Document:

Exhibit 10.25 

 

NEITHER
THE ISSUANCE NOR SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE CONVERTIBLE
HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT
BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN
A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE
144A UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT
OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.

 

AMENDED
AND RESTATED PROMISSORY NOTE

 

The
Promissory Note with issue date of January 30, 2018, in the principal amount of $840,000, made by Amedica Corporation, as Borrower,
and, L2 Capital, LLC, as Holder is hereby amended and restated in its entirety as follows:

 

	Principal
    Amount: $840,000.00	Issue
    Date: January 30, 2018

 

FOR
VALUE RECEIVED, AMEDICA CORPORATION, a Delaware corporation (hereinafter called the “Borrower”), hereby
promises to pay to the order of L2 CAPITAL, LLC, a Kansas limited liability company, or registered assigns (the “Holder”)
the principal sum of up to $840,000.00 (the “Principal Amount”), together with interest at the rate of eight percent
(8%) per annum (with the understanding that the initial six months of such interest of each tranche funded shall be guaranteed),
at maturity or upon acceleration or otherwise, as set forth herein (the “Note”). The consideration to the Borrower
for this Note is up to $750,000.00 (the “Consideration”) in United States currency, due to the prorated original issuance
discount of up to $75,000.00 (the “OID”). The Holder shall pay $500,000.00 of the Consideration (the “First
Tranche”) within a reasonable amount of time of the full execution of the transactional documents related to this Note.
At the closing of the First Tranche, the outstanding principal amount under this Note shall be $565,000.00, consisting of the
First Tranche, plus the prorated portion of the OID (as defined herein) and a $15,000.00 credit for the Holder’s transactional
expenses. The Holder may pay, in its sole discretion, such additional amounts of the Consideration and at such dates as the Holder
may choose in its sole discretion. The maturity date for each tranche funded shall be six (6) months from the effective date of
each payment (the “Maturity Date”), and is the date upon which the principal sum, as well as any accrued and unpaid
interest and other fees for each tranche, shall be due and payable. This Note may not be repaid in whole or in part except as
otherwise explicitly set forth herein. Any amount of principal or interest on this Note, which is not paid by the Maturity Date,
shall bear interest at the rate of the lesser of (i) eighteen percent (18%) per annum or (ii) the maximum amount allowed by law,
from the due date thereof until the same is paid (“Default Interest”). Interest shall commence accruing on the date
that the Note is fully paid and shall be computed on the basis of a 365-day year and the actual number of days elapsed. All payments
due hereunder (to the extent not converted into the Borrower’s common stock (the “Common Stock”) in accordance
with the terms hereof) shall be made in lawful money of the United States of America. All payments shall be made at such address
as the Holder shall hereafter give to the Borrower by written notice made in accordance with the provisions of this Note. Whenever
any amount expressed to be due by the terms of this Note is due on any day which is not a business day, the same shall instead
be due on the next succeeding day which is a business day and, in the case of any interest payment date which is not the date
on which this Note is paid in full, the extension of the due date thereof shall not be taken into account for purposes of determining
the amount of interest due on such date. As used in this Note, the term “business day” shall mean any day other than
a Saturday, Sunday or a day on which commercial banks in the city of New York, New York are authorized or required by law or executive
order to remain closed.

 

    	 	 	 

     

    

 

This
Note is free from all taxes, liens, claims and encumbrances with respect to the issue thereof and shall not be subject to preemptive
rights or other similar rights of shareholders of the Borrower and will not impose personal liability upon the holder thereof.

 

The
following additional terms shall also apply to this Note:

 

ARTICLE
I. [Intentionally Omitted].

 

ARTICLE II. CERTAIN COVENANTS

 

2.1
Distributions on Capital Stock. So long as the Borrower shall have any obligation under this Note, the Borrower shall not
without the Holder’s written consent (a) pay, declare or set apart for such payment, any dividend or other distribution
(whether in cash, property or other securities) on shares of capital stock other than dividends on shares of Common Stock solely
in the form of additional shares of Common Stock or (b) directly or indirectly or through any subsidiary make any other payment
or distribution in respect of its capital stock except for distributions pursuant to any shareholders’ rights plan which
is approved by a majority of the Borrower’s disinterested directors.

 

2.2
Restriction on Stock Repurchases. So long as the Borrower shall have any obligation under this Note, the Borrower shall
not without the Holder’s written consent redeem, repurchase or otherwise acquire (whether for cash or in exchange for property
or other securities or otherwise) in any one transaction or series of related transactions any shares of capital stock of the
Borrower or any warrants, rights or options to purchase or acquire any such shares.

 

    	 	2	 

     

    

 

2.3
Repayment from Proceeds. While any portion of this Note is outstanding, if the Borrower receives cash proceeds in excess
of $2,000,000 from any source or series of related or unrelated sources, including but not limited to, the issuance of equity
or debt, the conversion of outstanding warrants of the Borrower, the issuance of securities pursuant to an equity line of credit
of the Borrower or the sale of assets, the Borrower shall, within one (1) business day of Borrower’s receipt of such proceeds,
inform the Holder of such receipt, following which the Holder shall have the right in its sole discretion to require the Borrower
to immediately apply up to 50% of such proceeds to repay all or any portion of the outstanding amounts owed under this Note. Failure
of the Borrower to comply with this provision shall constitute an Event of Default. In the event that such proceeds are received
by the Holder prior to the Maturity Date, the required prepayment shall be subject to the terms of Section 4.9 herein.

 

ARTICLE
III. EVENTS OF DEFAULT

 

The
occurrence of each of the following events of default shall each be an “Event of Default”, with no right to notice
or right to cure except as specifically provided herein:

 

3.1
Failure to Pay Principal or Interest. The Borrower fails to pay the principal hereof or interest thereon when due on this
Note, whether at maturity, upon acceleration or otherwise.

 

3.2
Conversion and the Shares. The Borrower fails to reserve a sufficient amount of shares of common stock as required under
the terms of this Note, fails to issue shares of Common Stock to the Holder (or announces or threatens in writing that it will
not honor its obligation to do so) upon exercise by the Holder of the conversion rights of the Holder in accordance with the terms
of this Note, fails to transfer or cause its transfer agent to transfer (issue) (electronically or in certificated form) shares
of Common Stock issued to the Holder upon conversion of or otherwise pursuant to this Note as and when required by this Note,
the Borrower directs its transfer agent not to transfer or delays, impairs, and/or hinders its transfer agent in transferring
(or issuing) (electronically or in certificated form) shares of Common Stock to be issued to the Holder upon conversion of or
otherwise pursuant to this Note as and when required by this Note, or fails to remove (or directs its transfer agent not to remove
or impairs, delays, and/or hinders its transfer agent from removing) any restrictive legend (or to withdraw any stop transfer
instructions in respect thereof) on any shares of Common Stock issued to the Holder upon conversion of or otherwise pursuant to
this Note as and when required by this Note (or makes any written announcement, statement or threat that it does not intend to
honor the obligations described in this paragraph) and any such failure shall continue uncured (or any written announcement, statement
or threat not to honor its obligations shall not be rescinded in writing) for two (2) business days after the Holder shall have
delivered a Notice of Conversion. It is an obligation of the Borrower to remain current in its obligations to its transfer agent.
It shall be an event of default of this Note, if a conversion of this Note is delayed, hindered or frustrated due to a balance
owed by the Borrower to its transfer agent. If at the option of the Holder, the Holder advances any funds to the Borrower’s
transfer agent in order to process a conversion, such advanced funds shall be paid by the Borrower to the Holder within five (5)
business days, either in cash or as an addition to the balance of the Note, and such choice of payment method is at the discretion
of the Borrower.

 

    	 	3	 

     

    

 

3.3
Breach of Covenants. The Borrower breaches any material covenant or other material term or condition contained in this
Note and any collateral documents and such breach continues for a period of three (3) days after written notice thereof to the
Borrower from the Holder or after five (5) days after the Borrower should have been aware of the breach.

 

3.4
Breach of Representations and Warranties. Any representation or warranty of the Borrower made herein or in any agreement,
statement or certificate given in writing pursuant hereto or in connection herewith, shall be false or misleading in any material
respect when made and the breach of which has (or with the passage of time will have) a material adverse effect on the rights
of the Holder with respect to this Note.

 

3.5
Receiver or Trustee. The Borrower or any subsidiary of the Borrower shall make an assignment for the benefit of creditors,
or apply for or consent to the appointment of a receiver or trustee for it or for a substantial part of its property or business,
or such a receiver or trustee shall otherwise be appointed.

 

3.6
Judgments. Any money judgment, writ or similar process shall be entered or filed against the Borrower or any subsidiary
of the Borrower or any of its property or other assets for more than $150,000, and shall remain unvacated, unbonded or unstayed
for a period of ten (10) days unless otherwise consented to by the Holder, which consent will not be unreasonably withheld.

 

3.7
Bankruptcy. Bankruptcy, insolvency, reorganization or liquidation proceedings or other proceedings, voluntary or involuntary,
for relief under any bankruptcy law or any law for the relief of debtors shall be instituted by or against the Borrower or any
subsidiary of the Borrower.

 

3.8
Delisting of Common Stock. The Borrower shall fail to maintain the listing or quotation of the Common Stock on the OTCQB
or an equivalent replacement exchange, the Nasdaq Global Market, the Nasdaq Capital Market, the New York Stock Exchange, or the
NYSE American.

 

3.9
Failure to Comply with the Exchange Act. The Borrower shall fail to comply with the reporting requirements of the Exchange
Act (including but not limited to becoming delinquent in its filings), and/or the Borrower shall cease to be subject to the reporting
requirements of the Exchange Act.

 

3.10
Liquidation. Any dissolution, liquidation, or winding up of Borrower or any substantial portion of its business.

 

3.11
Cessation of Operations. Any cessation of operations by Borrower or Borrower admits it is otherwise generally unable to pay
its debts as such debts become due, provided, however, that any disclosure of the Borrower’s ability to continue
as a “going concern” shall not be an admission that the Borrower cannot pay its debts as they become
due.

 

    	 	4	 

     

    

 

3.12
Financial Statement Restatement. The Borrower replaces its auditor, or any restatement of any financial statements filed
by the Borrower with the Securities and Exchange Commission (the “SEC”) for any date or period from two years prior
to the Issue Date of this Note and until this Note is no longer outstanding, if the result of such restatement would, by comparison
to the unrestated financial statement, have constituted an adverse effect on the Borrower or the rights of the Holder with respect
to this Note.

 

3.13
Reverse Splits. The Borrower effectuates a reverse split of its Common Stock without twenty (20) days prior written notice
to the Holder.

 

3.14
Replacement of Transfer Agent. In the event that the Borrower replaces its transfer agent, and the Borrower fails to provide
prior to the effective date of such replacement, a fully executed Irrevocable Transfer Agent Instructions (including but not limited
to the provision to irrevocably reserve shares of Common Stock in the Reserved Amount) signed by the successor transfer agent
to Borrower and the Borrower that reserves the greater of (i) total amount of shares previously held in reserve for the Note with
the Borrower’s immediately preceding transfer agent and (ii) the Reserved Amount.

 

3.15
Cross-Default. Notwithstanding anything to the contrary contained in this Note or the other related or companion documents,
a breach or default by the Borrower of any covenant or other term or condition contained in any other financial instrument, including
but not limited to all convertible promissory notes, currently issued, or hereafter issued, by the Borrower, to the Holder or
any 3rd party (the “Other Agreements”), shall, at the option of the Holder, be considered a default under this Note,
in which event the Holder shall be entitled to apply all rights and remedies of the Holder under the terms of this Note by reason
of a default under said Other Agreement or hereunder.

 

3.16
Inside Information. Any attempt by the Borrower or its officers, directors, and/or affiliates to transmit, convey, disclose,
or any actual transmittal, conveyance, or disclosure by the Borrower or its officers, directors, and/or affiliates of, material
non-public information concerning the Borrower, to the Holder or its successors and assigns, which is not immediately cured by
Borrower’s filing of a Form 8-K pursuant to Regulation FD on that same date.

 

3.17
No bid. At any time while this Note is outstanding, the lowest Trading Price on the OTCQB or other applicable principal
trading market for the Common Stock is equal to or less than $0.0001.

 

    	 	5	 

     

    

 

3.18
Prohibition on Debt and Variable Securities. So long as the Note is outstanding, the Borrower shall not, without written
consent of the Investor, issue any Variable Security (as defined herein), unless (i) the Borrower is permitted to pay off the
Note in cash at the time of the issuance of the respective Variable Security and (ii) the Borrower pays off the Note, pursuant
to the terms of the Note, in cash at the time of the issuance of the respective Variable Security. A Variable Security shall mean
any security issued by the Borrower that (i) has or may have conversion rights of any kind, contingent, conditional or otherwise
in which the number of shares that may be issued pursuant to such conversion right varies with the market price of the common
stock; (ii) is or may become convertible into common stock (including without limitation convertible debt, warrants or convertible
preferred stock), with a conversion or exercise price that varies with the market price of the common stock, even if such security
only becomes convertible or exercisable following an event of default, the passage of time, or another trigger event or condition;
or (iii) was issued or may be issued in the future in exchange for or in connection with any contract, security, or instrument,
whether convertible or not, where the number of shares of common stock issued or to be issued is based upon or related in any
way to the market price of the common stock, including, but not limited to, common stock issued in connection with a Section 3(a)(9)
exchange, a Section 3(a)(10) settlement, or any other similar settlement or exchange, provided, however, that a Variable Security
shall not include a security with conversion rights subject to a floor price per share of 50% or greater than the closing price
of the Common Stock on the issuance date of the security (such floor price shall not be subject to further lower adjustment for
any reason). Furthermore, Variable Security shall not include the security or securities issued or to be issued by the Borrower
pursuant to the terms of the Senior Secured Convertible Promissory Notes issued to MEF I, LP and Anson Investments Masterfund
LP, each dated January 3, 2018.

 

3.19
Failure to Repay Upon Qualified Offering. The Borrower fails to repay the Note, in its entirety, pursuant to the terms
of the Note, with gross funds received from its next completed offering of $10,000,000.00 or more (consummated on or after the
Issue Date).

 

UPON
THE OCCURRENCE OF ANY EVENT OF DEFAULT SPECIFIED IN SECTION 3.2, THE NOTE SHALL BECOME IMMEDIATELY DUE AND PAYABLE AND THE BORROWER
SHALL PAY TO THE HOLDER, IN FULL SATISFACTION OF ITS OBLIGATIONS HEREUNDER, AN AMOUNT EQUAL TO: (Y) THE DEFAULT SUM (AS DEFINED
HEREIN); MULTIPLIED BY (Z) TWO (2). Upon the occurrence of any Event of Default specified in Sections 3.1, 3.3, 3.4, 3.5, 3.6,
3.7, 3.8, 3.9, 3.10, 3.11, 3.12, 3.13, 3.14, 3.15, 3.16, 3.17, 3.18 and/or 3.19, the Note shall become immediately due and payable
and the Borrower shall pay to the Holder, in full satisfaction of its obligations hereunder, an amount equal to 140% (plus an
additional 5% per each additional Event of Default that occurs hereunder) multiplied by the then outstanding entire balance
of the Note (including principal and accrued and unpaid interest) plus Default Interest, if any, plus any amounts
owed to the Holder pursuant to Sections 1.4(g) hereof (collectively, in the aggregate of all of the above, the “Default
Amount”), and all other amounts payable hereunder shall immediately become due and payable, all without demand, presentment
or notice, all of which hereby are expressly waived, together with all costs, including, without limitation, legal fees and expenses,
of collection, and the Holder shall be entitled to exercise all other rights and remedies available at law or in equity. Each
time an Event of Default occurs while this Note is outstanding, an additional discount of five percent (5%) shall be factored
into the Conversion Price (as defined in this Note).

 

    	 	6	 

     

    

 

Upon
the occurrence of any Event of Default, the Holder shall have the right at any time to convert all or any part of the Default
Amount into fully paid and non-assessable shares of Common Stock of the Borrower at a price per share equal to 70% multiplied
by the lowest VWAP of the common stock during the twenty (20) Trading Day (as defined herein) period ending, in Holder’s
sole discretion on each conversion, on either (i) the last complete Trading Day prior to the conversion date (each a “Conversion
Date”) or (ii) the Conversion Date (subject to adjustment as provided in this Note) (the “Conversion Price”).
In no event shall the Holder be entitled to convert any portion of this Note in excess of that portion of this Note upon conversion
of which the sum of (1) the number of shares of Common Stock beneficially owned by the Holder and its affiliates (other than shares
of Common Stock which may be deemed beneficially owned through the ownership of the unconverted portion of the Notes or the unexercised
or unconverted portion of any other security of the Borrower subject to a limitation on conversion or exercise analogous to the
limitations contained herein) and (2) the number of shares of Common Stock issuable upon the conversion of the portion of this
Note with respect to which the determination of this proviso is being made, would result in beneficial ownership by the Holder
and its affiliates of more than 4.99% of the outstanding shares of Common Stock. For purposes of the proviso to the immediately
preceding sentence, beneficial ownership shall be determined in accordance with Section 13(d) of the Securities Exchange Act of
1934, as amended (the “Exchange Act”), and Regulations 13D-G thereunder, except as otherwise provided in clause (1)
of such proviso. “Trading Day” shall mean any day on which the Common Stock is tradable for any period on the principal
securities exchange or other securities market on which the Common Stock is then being traded. All expenses incurred by Holder
for the issuance and clearing of the Common Stock into which this Note is convertible into shall immediately and automatically
be added to the balance of the Note at such time as the expenses are incurred by Holder. If, at any time when the Note is issued
and outstanding, the Borrower issues or sells, or is deemed to have issued or sold, any shares of Common Stock for a consideration
per share less than the Conversion Price in effect on the date of such issuance (or deemed issuance) of such shares of Common
Stock (a “Dilutive Issuance”), then the Holder shall have the right, in Holder’s sole discretion on each conversion
after such Dilutive Issuance, to utilize the price per share of the Dilutive Issuance as the Conversion Price for such conversion.
The Borrower is required at all times to have authorized and reserved three times the number of shares that is actually issuable
upon full conversion of the Note (based on the Conversion Price of the Note as if an Event of Default under the Note has occurred,
even if an Event of Default has not occurred) (the “Reserved Amount”). Upon receipt by the Borrower from the Holder
of a facsimile transmission or e-mail (or other reasonable means of communication) of a notice of conversion in the form attached
hereto as Exhibit A (the “Notice of Conversion”), the Borrower shall issue and deliver or cause to be issued and delivered
to or upon the order of the Holder the Common Stock issuable upon such conversion within two (2) business days after such receipt
(the “Deadline”). Without in any way limiting the Holder’s right to pursue other remedies, including actual
damages and/or equitable relief, the parties agree that if delivery of the Common Stock issuable upon conversion of this Note
is not delivered by the Deadline, the Borrower shall pay to the Holder $3,000 per day in cash, for each day beyond the Deadline
that the Borrower fails to deliver such Common Stock. Until such time as the shares of Common Stock issuable upon conversion of
this Note have been registered under the Act or otherwise may be sold pursuant to Rule 144 or other available exemption, the Common
Stock issuable upon conversion of this Note shall bear a restrictive legend in form, substance, and scope customary for such legends.
Notwithstanding anything in this Note to the contrary, and in addition to the beneficial ownership limitations provided herein,
the total number of shares of Common Stock that may be issued under this Note and that certain Common Stock Purchase Warrant issued
to Holder by Borrower on or about the date hereof for the initial amount of 68,257 shares of Common Stock (the “Warrant”),
shall be limited to 19.99% of the Borrower’s outstanding shares of Common Stock as of the date hereof (the “Exchange
Cap”), unless stockholder approval is obtained to issue more than the Exchange Cap. The Exchange Cap shall be appropriately
adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction.

 

    	 	7	 

     

    

 

ARTICLE
IV. MISCELLANEOUS

 

4.1
Failure or Indulgence Not Waiver. No failure or delay on the part of the Holder in the exercise of any power, right or
privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege
preclude other or further exercise thereof or of any other right, power or privileges. All rights and remedies existing hereunder
are cumulative to, and not exclusive of, any rights or remedies otherwise available.

 

4.2
Notices. All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder
shall be in writing and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered
or certified, return receipt requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid,
or (iv) transmitted by hand delivery, telegram, facsimile, or electronic mail addressed as set forth below or to such other address
as such party shall have specified most recently by written notice. Any notice or other communication required or permitted to
be given hereunder shall be deemed effective (a) upon hand delivery, upon electronic mail delivery, or delivery by facsimile,
with accurate confirmation generated by the transmitting facsimile machine, at the address or number designated below (if delivered
on a business day during normal business hours where such notice is to be received), or the first business day following such
delivery (if delivered other than on a business day during normal business hours where such notice is to be received) or (b) on
the second business day following the date of mailing by express courier service, fully prepaid, addressed to such address, or
upon actual receipt of such mailing, whichever shall first occur. The addresses for such communications shall be:

 

	If
    to the Borrower, to:	 
	 	 
	AMEDICA
    CORPORATION	 
	1885
    West 2100 South	 
	Salt
    Lake City, UT 84119	 
	e-mail:
    sbal@amedica.com and dobrien@amedica.com

 

    	 	8	 

     

    

 

	If
    to the Holder:	 
	 	 
	L2
    CAPITAL, LLC	 
	8900
    State Line Rd., Suite 410	 
	Leawood,
    KS 66206	 
	e-mail:
    investments@ltwocapital.com	 

 

4.3
Amendments. This Note and any provision hereof may only be amended by an instrument in writing signed by the Borrower and
the Holder. The term “Note” and all reference thereto, as used throughout this instrument, shall mean this instrument
as originally executed, or if later amended or supplemented, then as so amended or supplemented.

 

4.4
Assignability. This Note shall be binding upon the Borrower and its successors and assigns, and shall inure to be the benefit
of the Holder and its successors and assigns. Neither the Borrower nor the Holder shall assign this Note or any rights or obligations
hereunder without the prior written consent of the other. Notwithstanding the foregoing, the Holder may assign its rights hereunder
to any “accredited investor” (as defined in Rule 501(a) of the 1933 Act) in a private transaction from the Holder
or to any of its “affiliates”, as that term is defined under the 1934 Act, without the consent of the Borrower. Notwithstanding
anything in this Note to the contrary, this Note may be pledged as collateral in connection with a bona fide margin account or
other lending arrangement. The Holder and any assignee, by acceptance of this Note, acknowledge and agree that following conversion
of a portion of this Note, the unpaid and unconverted principal amount of this Note represented by this Note may be less than
the amount stated on the face hereof.

 

4.5
Cost of Collection. If default is made in the payment of this Note, the Borrower shall pay the Holder hereof costs of collection,
including reasonable attorneys’ fees.

 

4.6
Governing Law. This Note shall be governed by and construed in accordance with the laws of the State of Kansas without
regard to principles of conflicts of laws. Any action brought by either party against the other concerning the transactions contemplated
by this Note shall be brought only in the state and/or federal courts of Johnson County, Kansas. The parties to this Note hereby
irrevocably waive any objection to jurisdiction and venue of any action instituted hereunder and shall not assert any defense
based on lack of jurisdiction or venue or based upon forum non conveniens. The Borrower and Holder waive trial by jury.
In the event that any provision of this Note or any other agreement delivered in connection herewith is invalid or unenforceable
under any applicable statute or rule of law, then such provision shall be deemed inoperative to the extent that it may conflict
therewith and shall be deemed modified to conform with such statute or rule of law. Any such provision which may prove invalid
or unenforceable under any law shall not affect the validity or enforceability of any other provision of any agreement. Each party
hereby irrevocably waives personal service of process and consents to process being served in any suit, action or proceeding in
connection with this Note or any other Transaction Document by mailing a copy thereof via registered or certified mail or overnight
delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Note and agrees that
such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed
to limit in any way any right to serve process in any other manner permitted by law.

 

    	 	9	 

     

    

 

4.7
Certain Amounts. Whenever pursuant to this Note the Borrower is required to pay an amount in excess of the outstanding
principal amount (or the portion thereof required to be paid at that time) plus accrued and unpaid interest plus Default Interest
on such interest, the Borrower and the Holder agree that the actual damages to the Holder from the receipt of cash payment on
this Note may be difficult to determine and the amount to be so paid by the Borrower represents stipulated damages and not a penalty
and is intended to compensate the Holder in part for loss of the opportunity to convert this Note and to earn a return from the
sale of shares of Common Stock acquired upon conversion of this Note at a price in excess of the price paid for such shares pursuant
to this Note. The Borrower and the Holder hereby agree that such amount of stipulated damages is not plainly disproportionate
to the possible loss to the Holder from the receipt of a cash payment without the opportunity to convert this Note into shares
of Common Stock.

 

4.8
Remedies. The Borrower acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the
Holder, by vitiating the intent and purpose of the transaction contemplated hereby. Accordingly, the Borrower acknowledges that
the remedy at law for a breach of its obligations under this Note will be inadequate and agrees, in the event of a breach or threatened
breach by the Borrower of the provisions of this Note, that the Holder shall be entitled, in addition to all other available remedies
at law or in equity, and in addition to the penalties assessable herein, to an injunction or injunctions restraining, preventing
or curing any breach of this Note and to enforce specifically the terms and provisions thereof, without the necessity of showing
economic loss and without any bond or other security being required.

 

4.9
Repayment. Notwithstanding anything to the contrary contained in this Note, the Borrower may repay any amount outstanding
under this Note, during the 30 calendar day period after the Issue Date, by making a payment to the Holder of an amount in cash
equal to 110% multiplied the amount that the Borrower is repaying. Notwithstanding anything to the contrary contained in this
Note, the Borrower may repay any amount outstanding under this Note, during the 31st through 60th calendar day period after the
Issue Date, by making a payment to the Holder of an amount in cash equal to 120% multiplied the amount that the Borrower is repaying.
Notwithstanding anything to the contrary contained in this Note, the Borrower may repay any amount outstanding under this Note,
after the 60th calendar day after the Issue Date, by making a payment to the Holder of an amount in cash equal to 125% multiplied
the amount that the Borrower is repaying. In order to repay this Note, the Borrower shall provide notice to the Holder ten (10)
business days prior to such respective repayment date, and the Holder must receive such repayment within twelve (12) business
days of the Holder’s receipt of the respective repayment notice, but not sooner than ten (10) business days from the date
of notice (the “Repayment Period”). The Holder may convert the Note in whole or in part at any time during the Repayment
Period, subject to the terms and conditions of this Note. Any repayment hereunder shall be applied to the tranches funded under
this Note in reverse chronological order (applied first to the most recently funded tranches under this Note).

 

    	 	10	 

     

    

 

4.10
Section 3(a)(10) Transactions. If at any time while this Note is outstanding, the Borrower enters into a transaction structured
in accordance with, based upon, or related or pursuant to, in whole or in part, Section 3(a)(10) of the Securities Act (a “3(a)(10)
Transaction”), then a liquidated damages charge of 100% of the outstanding principal balance of this Note at that time,
will be assessed and will become immediately due and payable to the Holder, either in the form of cash payment, an addition to
the balance of the Note, or a combination of both forms of payment, as determined by the Holder.

 

4.11
Reverse Split Penalty. If at any time while this Note is outstanding, the Borrower effectuates a reverse split with respect
to the Common Stock, then a liquidated damages charge of 30% of the outstanding principal balance of this Note at that time, will
be assessed and will become immediately due and payable to the Holder, either in the form of cash payment, an addition to the
balance of the Note, or a combination of both forms of payment, as determined by the Holder.

 

4.12
Restriction on Section 3(a)(9) Transactions. So long as this Note is outstanding, the Borrower shall not enter into any
3(a)(9) Transaction with any party other than the Holder, without prior written consent of the Holder. In the event that the Borrower
does enter into, or makes any issuance of Common Stock related to a 3(a)(9) Transaction while this Note is outstanding, a liquidated
damages charge of 25% of the outstanding principal balance of this Note, but not less than $15,000, will be assessed and will
become immediately due and payable to the Holder at its election in the form of cash payment or addition to the balance of this
Note. Each time, while this Note is outstanding, the Borrower enters into a Section 3(a)(9) Transaction (as defined herein) (including
but not limited to the issuance of new promissory notes or of a replacement promissory note), or Section 3(a)(10) Transaction
(as defined herein), in which any 3rd party has the right to convert monies owed to that 3rd party (or receive shares pursuant
to a settlement or otherwise) at a discount to market greater than the Conversion Price in effect at that time (prior to all other
applicable adjustments in the Note), then the Conversion Price shall be adjusted at the option of the Holder to such greater discount
percentage (prior to all applicable adjustments in this Note) until this Note is no longer outstanding. Each time, while this
Note is outstanding, the Borrower enters into a Section 3(a)(9) Transaction (including but not limited to the issuance of new
promissory notes or of a replacement promissory note), or Section 3(a)(10) Transaction, in which any 3rd party has a look back
period greater than the look back period in effect under the Note at that time, then the Holder’s look back period shall
be adjusted at the option of the Holder to such greater number of days until this Note is no longer outstanding. The Borrower
shall give written notice to the Holder, with the adjusted Conversion Price and/or adjusted look back period (each adjustment
that is applicable due to the triggering event), within one (1) business day of an event that requires any adjustment described
in the two immediately preceding sentences, and the Holder shall have the sole discretion in determining whether to utilize the
adjusted term pursuant to this section. So long as this Note is outstanding, if any security of the Borrower contains any term
more favorable to the holder of such security or with a term in favor of the holder of such security that was not similarly provided
to the Holder in this Note, then the Borrower shall notify the Holder of such additional or more favorable term and such term,
at Holder’s option, shall become a part of the transaction documents with the Holder. The foregoing provision shall not
be applicable to securities issued or to be issued by the Borrower pursuant to the terms of the Senior Secured Convertible Promissory
Notes issued to MEF I, LP and Anson Investments Masterfund LP, each dated January 3, 2018.

 

    	 	11	 

     

    

 

4.13
Terms of Future Financings. So long as this Note is outstanding, upon any issuance by the Borrower or any of its subsidiaries
of any security with any term more favorable to the holder of such security or with a term in favor of the holder of such security
that was not similarly provided to the Holder in this Note, then the Borrower shall notify the Holder of such additional or more
favorable term and such term, at Holder’s option, shall become a part of the transaction documents with the Holder. The
types of terms contained in another security that may be more favorable to the holder of such security include, but are not limited
to, terms addressing conversion discounts, prepayment rate, conversion look back periods, interest rates, original issue discounts,
stock sale price, private placement price per share, and warrant coverage. The foregoing shall not apply to issuances of securities
by the Borrower pursuant to agreements entered into prior to the Issue Date of this Note, so long as the terms of such agreements
are not amended after the Issue Date.

 

4.14
Usury. If it shall be found that any interest or other amount deemed interest due hereunder violates the applicable law
governing usury, the applicable rate of interest due hereunder shall automatically be lowered to equal the maximum rate of interest
permitted under applicable law. The Borrower covenants (to the extent that it may lawfully do so) that it shall not at any time
insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law or
other law which would prohibit or forgive the Borrower from paying all or any portion of the principal of or interest on this
Note as contemplated herein, wherever enacted, now or at any time hereafter in force, or which may affect the covenants or the
performance of this Note, and the Borrower (to the extent it may lawfully do so) hereby expressly waives all benefits or advantage
of any such law, and covenants that it will not, by resort to any such law, hinder, delay or impede the execution of any power
herein granted to the Holder, but will suffer and permit the execution of every such as though no such law has been enacted.

 

4.15
[Intentionally Omitted].

 

4.16
Piggyback Registration Rights. The Borrower shall include on the next registration statement the Borrower files with SEC
(and on each subsequent registration statement thereafter) all shares issuable upon exercise of the Warrant (as defined in the
securities purchase agreement entered into between the Borrower and Holder on the Issue Date). Failure to do so will result in
liquidated damages of 25% of the outstanding principal balance of this Note, but not less than Fifteen Thousand and No/100 United
States Dollars ($15,000), being immediately due and payable to the Holder at its election in the form of cash payment or addition
to the balance of this Note.

 

[signature
page to follow]

 

    	 	12	 

     

    

 

IN
WITNESS WHEREOF, Borrower has caused this Note to be signed in its name by its duly authorized officer this January 30, 2018.

 

	AMEDICA
    CORPORATION	 
	 	 	 
	By:	/s/
    Sonny Bal	 
	Name:	Sonny
    Bal	 
	Title:	Chief
    Executive Officer	 

 

	Agreed
    and accepted: 	 
	 	 
	
    L2 CAPITAL,     LLC	 
	 	 	 
	By:	/s/
    Adam Long	 
	Name:	Adam
    Long	 
	Title:	Managing
    Partner	 

 

    	 	13	 

     

    

 

EXHIBIT
A — NOTICE OF CONVERSION

 

The
undersigned hereby elects to convert $____________ principal amount of the Note (defined below) into that number of shares of Common Stock
to be issued pursuant to the conversion of the Note (“Common Stock”) as set forth below, of AMEDICA CORPORATION, a
Delaware corporation (the “Borrower”) according to the conditions of the promissory note of the Borrower dated as
of January 30, 2018 (the “Note”), as of the date written below. No fee will be charged to the Holder for any conversion,
except for transfer taxes, if any.

 

Box
Checked as to applicable instructions:

 

	 	[  ]	The
    Borrower shall electronically transmit the Common Stock issuable pursuant to this Notice of Conversion to the account of the
    undersigned or its nominee with DTC through its Deposit Withdrawal Agent Commission system (“DWAC Transfer”).
	 	 	 
	 	 	Name
    of DTC Prime Broker:
	 	 	Account
    Number:
	 	 	 
	 	[  ]	The
    undersigned hereby requests that the Borrower issue a certificate or certificates for the number of shares of Common Stock
    set forth below (which numbers are based on the Holder’s calculation attached hereto) in the name(s) specified immediately
    below or, if additional space is necessary, on an attachment hereto:

 

	L2
    CAPITAL, LLC	 	 
	8900
    State Line Rd., Suite 410	 	 
	Leawood,
    KS 66206	 	 
	e-mail:
    investments@ltwocapital.com	 	 
	 	 	 
	Date
    of Conversion:	 	 ____________________
	Applicable
    Conversion Price:	$	____________________ 
	Number
    of Shares of Common Stock to be Issued	 	 
	Pursuant
    to Conversion of the Notes:	 	 ____________________
	Amount
    of Principal Balance Due remaining	 	 
	Under
    the Note after this conversion:	 	 ____________________

 

	L2
    CAPITAL, LLC	 
	 	      	 
	By:	 	 
	Name:	 	 
	Title:	 	 
	Date:	 	 

 

    	 	14Exhibit
10.26 

 

 FORM
OF  WARRANT AMENDMENT AGREEMENT

 

This
Warrant Amendment Agreement (this “Agreement”), dated as of March 6, 2018, is by and between Amedica Corporation,
a Delaware corporation (the “Company”), and the undersigned holder (the “Holder”) of warrants
to purchase shares of the Company’s common stock, par value $0.01 per share (the “Common Stock”).

 

WHEREAS,
the Holder beneficially owns in the aggregate the number of warrants to purchase Common Stock at an exercise price of $12.00 per
share (after giving effect to a 1:12 reverse stock split since the issuance date thereof) that are exercisable until July 8, 2021,
as set forth on the Holder’s signature page hereto (the “Original Warrants”).

 

WHEREAS,
in order to induce the Holder to exercise the Original Warrants from time to time, the Company and the Holder hereby agree to:
(i) amend the Warrants to reduce the exercise price and (ii) upon each such exercise, issue to the Holder a New Warrant (as hereinafter
defined), all as set forth in this Agreement.

 

WHEREAS,
in compliance with Section 5(m) of the Original Warrants, this Warrant Agreement shall be effective upon the due execution and
delivery of this Warrant Amendment Agreement by the Company and the Holder.

 

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

 

ARTICLE
I

DEFINITIONS

 

Section
1.1 Definitions. Capitalized terms not defined in this Agreement shall have the meanings ascribed to such terms in the
Original Warrants or New Warrants, as applicable.

 

ARTICLE
II

AMENDMENT
OF ORIGINAL WARRANTS

 

Section
2.1 Amendment of Original Warrants.

 

(a)
On the date hereof, (i) the defined term “Exercise Price” set forth in Section 2(b) of the Original Warrants shall
be amended to equal $2.125 (the “Amended Exercise Price”) for the period beginning on the date hereof through
the Termination Date, inclusive and (ii) the defined term “Warrant Share Delivery Date” set forth in Section 2(d)(i)
of the Original Warrant shall be amended to refer to the date that is two (2) Trading Days after the delivery to the Company of
the Notice of Exercise (collectively, the “Original Warrant Amendments” and the Original Warrant, after giving
effect to the Original Warrant Amendments, the “Amended Warrant”).

 

(b)
Except as expressly set forth in this Agreement, all terms of the Original Warrants are, and shall continue to be, in full force
and effect and are hereby ratified and confirmed in all respects, and the Holder reserves all of its rights, remedies, powers,
and privileges.

 

    	 

     

    

 

(c)
Within two (2) Trading Days of the date hereof, the Company hereby covenants and agrees to file a prospectus supplement to the
Registration Statement (as defined in the Amended Warrants) with respect to the Original Warrant Amendments.

 

ARTICLE
III

ISSUANCE
OF NEW WARRANTS

 

Section
3.1 Issuance of New Warrants. Upon each exercise of an Amended Warrant, in addition to the issuance of the Warrant Shares
(as defined in the Amended Warrants) on or prior to the Warrant Share Delivery Date (as defined in the Amended Warrants), the
Company shall deliver to the Holder a new warrant in the form attached hereto as Exhibit A (the “New Warrants”)
to purchase a number of shares of Common Stock equal to the number of Amended Warrants that the Holder has exercised pursuant
to the terms of the Amended Warrants.

 

Section
3.2 Legends; Restricted Securities.

 

(a)
The Holder understands that the New Warrants and the shares of Common Stock underlying New Warrants (the “New Warrant
Shares”) are not, and may never be, registered under the Securities Act of 1933, as amended (the “Securities
Act”), or the securities laws of any state and, accordingly, each certificate, if any, representing such securities
shall bear a legend substantially similar to the following:

 

“THIS
SECURITY HAS NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE
UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY,
MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE
EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH
APPLICABLE STATE SECURITIES LAWS. THIS SECURITY MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT WITH A REGISTERED
BROKER-DEALER OR OTHER LOAN WITH A FINANCIAL INSTITUTION THAT IS AN “ACCREDITED INVESTOR” AS DEFINED IN RULE 501(a)
UNDER THE SECURITIES ACT OR OTHER LOAN SECURED BY SUCH SECURITIES.”

 

    	2

     

    

 

(b)
Certificates evidencing the New Warrant Shares shall not contain any legend (including the legend set forth in Section 3.2(a)
hereof), (i) while a registration statement covering the resale of such New Warrant Shares is effective under the Securities Act,
(ii) following any sale of such New Warrant Shares pursuant to Rule 144, (iii) if such New Warrant Shares is eligible for sale
under Rule 144, without the requirement for the Company to be in compliance with the current public information required under
Rule 144 as to such New Warrant Shares and without volume or manner-of-sale restrictions, (iv) if such New Warrant Shares may
be sold under Rule 144 and the Company is then in compliance with the current public information required under Rule 144 as to
such New Warrant Shares, or (v) if such legend is not required under applicable requirements of the Securities Act (including
judicial interpretations and pronouncements issued by the staff of the Securities and Exchange Commission (the “Commission”)).
The Company shall cause its counsel to issue a legal opinion to the transfer agent promptly after the Delegend Date (as defined
below) if required by the Company and/or the transfer agent, or requested by the Holder, to effect the removal of the legend hereunder,
which opinion shall be in form and substance reasonably acceptable to the Holder. If such New Warrant Shares may be sold under
Rule 144 without the requirement for the Company to be in compliance with the current public information required under Rule 144
or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations
and pronouncements issued by the staff of the Commission) then such New Warrant Shares shall be issued free of all legends. The
Company agrees that following the Delegend Date or at such time as such legend is no longer required under this Section 3.2(b),
it will, no later than two (2) Trading Days following the delivery by the Holder to the Company or the transfer agent of a certificate
representing the New Warrant Shares issued with a restrictive legend (such second Trading Day, the “Legend Removal Date”),
deliver or cause to be delivered to the Holder a certificate representing such shares that is free from all restrictive and other
legends or, at the request of the Holder shall credit the account of the Holder’s prime broker with the Depository Trust
Company System as directed by the Holder. The Company may not make any notation on its records or give instructions to the transfer
agent that enlarge the restrictions on transfer set forth in this Section 3.2(b). As used herein, “Delegend Date”
means the earliest of the date that (a) a registration statement with respect to the New Warrant Shares has been declared effective
by the Commission or (b) all of the New Warrant Shares have been sold pursuant to Rule 144 or may be sold pursuant to Rule 144
without the requirement for the Company to be in compliance with the current public information required under Rule 144 and without
volume or manner-of-sale restrictions or (c) following the six (6) month anniversary of (I) the issuance date of a New Warrant
if such New Warrant is exercised pursuant to a cashless exercise or (II) the date of the related cash exercise of the New Warrants,
provided, in each case that the applicable holder of the New Warrants or the New Warrant Shares, as the case may be, is
not an Affiliate of the Company, the Company is in compliance with the current public information required under Rule 144 (“Current
Public Information Requirement”) and all such New Warrant Shares may be sold pursuant to Rule 144 or an exemption from
registration under Section 4(a)(1) of the Securities Act without volume or manner-of-sale restrictions; provided, further,
that if the Company fails to comply with the Current Public Information Requirement at any time following the applicable six (6)
month anniversary set forth above and the one (1) year anniversary of the issuance date of any New Warrants, the Company shall
promptly provide notice to the Holder and the Holder undertakes not to sell such New Warrant Shares pursuant to Rule 144 until
the Company notifies the Holder that it has regained compliance with the Current Public Information Requirement; and provided,
further, that if a delegending is in effect solely as the result of the effectiveness of a registration statement covering
the resale of any New Warrant Shares, the Holder undertakes not to sell any such New Warrant Shares if the Holder is notified
or otherwise becomes aware that such registration statement has been withdrawn or suspended, contains a material misstatement
or omission or has become stale. The Holder agrees with the Company that the Holder will sell or transfer any New Warrants or
New Warrant Shares pursuant to either the registration requirements of the Securities Act, including any applicable prospectus
delivery requirements, or an exemption therefrom, and that if such securities are sold pursuant to a registration statement, they
will be sold in compliance with the plan of distribution set forth therein, and acknowledges that the removal of the restrictive
legend from certificates representing any such securities as set forth in this Section 3.2 or otherwise is predicated upon the
Company’s reliance upon this understanding.

 

    	3

     

    

 ARTICLE
                                         IV

REPRESENTATIONS
AND WARRANTIES

 

Section
4.1 Representations and Warranties of the Company. The Company hereby makes the representations and warranties set forth
below to the Holder that as of the date of its execution of this Agreement:

 

(a)
Authorization; Enforcement. The Company has the requisite corporate power and authority to enter into and to consummate
the transactions contemplated by this Agreement and otherwise to carry out its obligations hereunder and thereunder. The execution
and delivery of this Agreement by the Company and the consummation by it of the transactions contemplated hereby have been duly
authorized by all necessary action on the part of such Company and no further action is required by such Company, its board of
directors or its stockholders in connection therewith. This Agreement has been duly executed by the Company and, when delivered
in accordance with the terms hereof will constitute the valid and binding obligation of the Company enforceable against the Company
in accordance with its terms except (i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization,
moratorium and other laws of general application affecting enforcement of creditors’ rights generally, (ii) as limited by
laws relating to the availability of specific performance, injunctive relief or other equitable remedies and (iii) insofar as
indemnification and contribution provisions may be limited by applicable law.

 

(b)
Organization. The Company is a duly organized and validly existing corporation in good standing under the laws of the State
of Delaware.

 

(c)
Registration Statement. The Warrant Shares (as defined in the Amended Warrants) are registered for issuance pursuant to
the Registration Statement and the Company knows of no reasons, after the filing of the prospectus supplement thereto as contemplated
by Section 2.1(c), why the Registration Statement shall not remain available for the issuance of such Warrant Shares for the foreseeable
future. The Company shall use reasonable best efforts to keep the Registration Statement effective and available for the resale
of the Warrant Shares underlying the Amended Warrants until all Amended Warrants are exercised. If the Company is unable to keep
the Registration Statement effective and available, the Holder may exercise the Amended Warrants by means of a cashless exercise
in accordance with the terms of the Amended Warrants using the Amended Exercise Price.

 

(d)
No Conflicts. The execution, delivery and performance of this Agreement by the Company and the consummation by the Company
of the transactions contemplated hereby do not and will not: (i) conflict with or violate any provision of the Company’s
certificate or articles of incorporation, bylaws or other organizational or charter documents, or (ii) conflict with, or constitute
a default (or an event that with notice or lapse of time or both would become a default) under, result in the creation of any
lien upon any of the properties or assets of the Company, or give to others any rights of termination, amendment, acceleration
or cancellation (with or without notice, lapse of time or both) of, any material agreement, credit facility, debt or other material
instrument (evidencing Company debt or otherwise) or other material understanding to which the Company is a party or by which
any property or asset of the Company is bound or affected, or (iii) conflict with or result in a violation of any law, rule, regulation,
order, judgment, injunction, decree or other restriction of any court or governmental authority to which the Company is subject
(including federal and state securities laws and regulations), or by which any property or asset of the Company is bound or affected.

 

(e)
Disclosure. Except with respect to the material terms and conditions of the transactions contemplated by this Agreement,
the Company confirms that neither it nor any other Person acting on its behalf has provided any of Holder or their agents or counsel
with any information that it believes constitutes or might constitute material, non-public information. The Company understands
and confirms that the Holder will rely on the foregoing representation in effecting transactions in securities of the Company.
All of the disclosure furnished by or on behalf of the Company to the Holder regarding the Company and its Subsidiaries, their
respective businesses and the transactions contemplated hereby, including but not limited to the disclosure set forth in the SEC
Reports (as defined below), is true and correct and does not contain any untrue statement of a material fact or omit to state
any material fact necessary in order to make the statements made therein, in light of the circumstances under which they were
made, not misleading. As used herein, “SEC Reports” means all reports, schedules, forms, statements and other
documents required to be filed by the Company with the Commission pursuant to the reporting requirements of the Exchange Act,
including all exhibits included therein and financial statements, notes and schedules thereto and documents incorporated by reference
therein.

 

    	4

     

    

 

(f)
Issuance of Securities. The issuance of the New Warrants are duly authorized and, upon issuance in accordance with the
terms of this Agreement, the New Warrants shall be validly issued and free from all preemptive or similar rights (except for those
which have been validly waived prior to the date hereof), taxes, liens and charges and other encumbrances with respect to the
issue thereof. As of the date hereof, a number of shares of Common Stock shall have been duly authorized and reserved for issuance
which equals or exceeds the maximum number of New Warrant Shares (without taking into account any limitations on the exercise
of the New Warrants set forth therein). Upon exercise of the New Warrants in accordance with the New Warrants, the New Warrant
Shares when issued will be validly issued, fully paid and nonassessable and free from all preemptive or similar rights, taxes,
liens, charges and other encumbrances with respect to the issue thereof, with the holders being entitled to all rights accorded
to a holder of Common Stock. Assuming the accuracy of each of the representations and warranties set forth in Section 4.2 of this
Agreement, the offer and issuance by the Company of the New Warrants is exempt from registration under the Securities Act.

 

(g)
No General Solicitation. Neither the Company, nor any of its Subsidiaries or affiliates, nor any Person acting on its or
their behalf, has engaged in any form of general solicitation or general advertising (within the meaning of Regulation D) in connection
with the offer or sale of the New Warrants.

 

(h)
No Integrated Offering. None of the Company, its Subsidiaries or any of their affiliates, nor any Person acting on their
behalf has, directly or indirectly, made any offers or sales of any security or solicited any offers to buy any security, under
circumstances that would require registration of the issuance of any of the New Warrants or the New Warrant Shares (collectively,
the “Securities”) under the Securities Act, whether through integration with prior offerings or otherwise,
or cause this offering of the Securities to require approval of shareholders of the Company for purposes of the Securities Act
or any applicable shareholder approval provisions, including, without limitation, under the rules and regulations of any exchange
or automated quotation system on which any of the securities of the Company are listed or designated for quotation. None of the
Company, its Subsidiaries, their affiliates nor any Person acting on their behalf will take any action or steps that would require
registration of the issuance of any of the Securities under the Securities Act or cause the offering of any of the Securities
to be integrated with other offerings for purposes of any such applicable shareholder approval provisions.

 

(i)
No Disqualification Events. With respect to Securities to be offered and sold hereunder in reliance on Rule 506(b) under
the Securities Act (“Regulation D Securities”), none of the Company, any of its predecessors, any affiliated
issuer, any director, executive officer, other officer of the Company participating in the offering hereunder, any beneficial
owner of 20% or more of the Company’s outstanding voting equity securities, calculated on the basis of voting power, nor
any promoter (as that term is defined in Rule 405 under the Securities Act) connected with the Company in any capacity at the
time of sale (each, an “Issuer Covered Person” and, together, “Issuer Covered Persons”)
is subject to any of the “Bad Actor” disqualifications described in Rule 506(d)(1)(i) to (viii) under the Securities
Act (a “Disqualification Event”), except for a Disqualification Event covered by Rule 506(d)(2) or (d)(3).
The Company has exercised reasonable care to determine whether any Issuer Covered Person is subject to a Disqualification Event.
The Company has complied, to the extent applicable, with its disclosure obligations under Rule 506(e), and has furnished to the
Holder a copy of any disclosures provided thereunder.

 

(j)
Shell Company Status. The Company is not, and has never been, an issuer identified in Rule 144(i)(1) of the Securities
Act.

 

Section
4.2 Representations and Warranties of the Holder. The Holder hereby makes the representations and warranties set forth
below to the Company that as of the date of its execution of this Agreement.

 

    	5

     

    

 

(a)
Due Authorization. The Holder represents and warrants that (i) the execution and delivery of this Agreement by it and the
consummation by it of the transactions contemplated hereby have been duly authorized by all necessary action on its behalf and
(ii) this Agreement has been duly executed and delivered by the Holder and constitutes the valid and binding obligation of the
Holder, enforceable against it in accordance with its terms.

 

(b)
No Conflicts. The Holder represents and warrants that the execution, delivery and performance of this Agreement by the
Holder and the consummation by the Holder of the transactions contemplated hereby do not and will not: (i) conflict with or violate
any provision of the Holder’s organizational or charter documents, or (ii) conflict with or result in a violation of any
agreement, law, rule, regulation, order, judgment, injunction, decree or other restriction of any court or governmental authority
which would interfere with the ability of the Holder to perform its obligations under this Agreement.

 

(c)
Access to Information. The Holder acknowledges that it has had the opportunity to review this Agreement and the SEC Reports
and has been afforded (i) the opportunity to ask such questions as it has deemed necessary of, and to receive answers from, representatives
of the Company concerning the terms and conditions of the exercise of the Original Warrants and the merits and risks of investing
in the Warrant Shares; (ii) access to information about the Company and its financial condition, results of operations, business,
properties, management and prospects sufficient to enable it to evaluate its investment; and (iii) the opportunity to obtain such
additional information that the Company possesses or can acquire without unreasonable effort or expense that is necessary to make
an informed investment decision with respect to the investment. Neither such inquiries nor any other due diligence investigations
conducted by the Holder or its advisors, if any, or its representatives shall modify, amend or affect the Holder’s right
to rely on the Company’s representations and warranties contained herein. The Holder acknowledges and agrees that neither
Maxim Group LLC (the “Agent”) nor any Affiliate of the Agent has provided the Holder with any information or
advice with respect to the Securities nor is such information or advice necessary or desired. Neither the Agent nor any Affiliate
has made or makes any representation as to the Company or the quality of the securities issued and issuable hereunder and the
Agent and any Affiliate may have acquired non-public information with respect to the Company which the Holder agrees need not
be provided to it. In connection with the issuance of the securities hereunder to the Holder, neither the Agent nor any of its
Affiliates has acted as a financial advisor or fiduciary to the Holder.

 

(d)
Holder Status. The Holder represents and warrants that is an “accredited investor” as defined in Rule 501 under
the Securities Act.

 

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

 

    	6

     

    

 

ARTICLE
V

MISCELLANEOUS

 

Section
5.1 Company Lock-Up. Subject to the last sentence of this Section 5.1, from the date hereof until the date that is twenty
(20) Trading Days following the date hereof (the “Trigger Date”), the Company shall not, directly or indirectly,
file any registration statement with the Commission, or file any amendment or supplement thereto or cause any registration statement
or amendment thereto to be declared effective by the Commission, or grant any registration rights to any Person that can be exercised
prior to such time as set forth above, other than pursuant to Section 2.1(c). Subject to the last sentence of this Section 5.1,
from the date hereof until the Trigger Date, the Company shall not, (1) directly or indirectly, offer, sell, grant any option
to purchase, or otherwise dispose of (or announce any offer, sale, grant or any option to purchase or other disposition of) any
of its or its Subsidiaries’ debt, equity or equity equivalent securities, including without limitation any debt, preferred
stock or other instrument or security that is, at any time during its life and under any circumstances, convertible into or exchangeable
or exercisable for Common Stock or Common Stock Equivalents (any such offer, sale, grant, disposition or announcement being referred
to as a “Subsequent Placement”) or (2) be party to any solicitations, negotiations or discussions with regard to the
foregoing. Notwithstanding anything to the contrary herein, this Section 5.1 shall not apply to any registration statement or
offering of the Company relating to a registration statement that has already been filed with the Commission, regardless of what
amendments or changes are made to such registration statement or offering; provided, that no securities of the Company are permitted
to be issued or are issuable under any such registration statement until after the Trigger Date.

 

Section
5.2 Filing of Form 8-K and Supplement to Registration Statement. Prior to 2:00 p.m ET on March 6, 2018, the Company shall
issue a Current Report on Form 8-K, reasonably acceptable to the Holder disclosing the material terms of the transactions contemplated
hereby, which shall not include the form of this Agreement or the form of the New Warrants (the “8-K Filing”).
From and after the issuance of the 8-K Filing, the Company represents to the Holder that it shall not be in possession of any
material, nonpublic information received from the Company, any of its Subsidiaries or any of their respective officers, directors,
affiliates, employees or agents, that is not disclosed in the 8-K Filing. In addition, effective upon the filing of the 8-K Filing,
the Company acknowledges and agrees that any and all confidentiality or similar obligations to the Company, any of its Subsidiaries
or any of their respective officers, directors, affiliates, employees or agents under any agreement, whether written or oral,
between the Company, any of its Subsidiaries or any of their respective officers, directors, affiliates, employees or agents,
on the one hand, and the Holder or any of its affiliates, on the other hand, shall terminate and be of no further force or effect.
The Company shall not, and shall cause each of its Subsidiaries and its and each of their respective officers, directors, affiliates
employees and agents, not to, provide the Holder with any material, nonpublic information regarding the Company or any of its
Subsidiaries from and after the date hereof without the express prior written consent of the Holder. To the extent that the Company,
any of its Subsidiaries or any of their respective officers, directors, affiliates, employees or agents, delivers any material,
non-public information to the Holder without the Holder’s prior written consent, the Company hereby covenants and agrees
that the Holder shall not have any duty of confidentiality to the Company, any of its Subsidiaries or any of their respective
officers, directors, affiliates, employees or agents with respect to, or a duty to the to the Company, any of its Subsidiaries
or any of their respective officers, directors, affiliates, employees or agent not to trade on the basis of, such material, non-public
information. The Company understands and confirms that the Holder will rely on the foregoing representations in effecting transactions
in securities of the Company.

 

Section
5.3 MFN. The Company hereby represents and warrants as of the date hereof and covenants and agrees from and after the date
hereof that none of the terms offered to any other Holder of Original Warrants with respect to the amendment of the Original Warrants
and the issuance of New Warrants (each an “Amendment Document”), is or will be more favorable to such other
Person than those of the Holder and this Agreement (other than with respect to the reimbursement of legal fees). If, and whenever
on or after the date hereof, the Company enters into an Amendment Document, then (i) the Company shall provide notice thereof
to the Holder promptly following the occurrence thereof and (ii) the terms and conditions of this Agreement shall be, without
any further action by the Holder or the Company, automatically amended and modified in an economically and legally equivalent
manner such that the Holder shall receive the benefit of the more favorable terms and/or conditions (as the case may be) set forth
in such Amendment Document, provided that upon written notice to the Company at any time the Holder may elect not to accept the
benefit of any such amended or modified term or condition, in which event the term or condition contained in this Agreement shall
apply to the Holder as it was in effect immediately prior to such amendment or modification as if such amendment or modification
never occurred with respect to the Holder. The provisions of this paragraph shall apply similarly and equally to each Amendment
Document.

 

    	7

     

    

 

Section
5.4 Notices. Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall
be made by email to the email address of the Holder set forth on Holders’ signature page.

 

Section
5.5 Survival. All warranties and representations (as of the date such warranties and representations were made) made herein
or in any certificate or other instrument delivered by it or on its behalf under this Agreement shall be considered to have been
relied upon by the parties hereto and shall survive the issuance of the New Warrants. This Agreement shall inure to the benefit
of and be binding upon the successors and permitted assigns of each of the parties; provided however that no party may assign
this Agreement or the obligations and rights of such party hereunder without the prior written consent of the other parties hereto.

 

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

 

Section
5.7 Severability. If any provision of this Agreement is held to be invalid or unenforceable in any respect, the validity
and enforceability of the remaining terms and provisions of this Agreement shall not in any way be affected or impaired thereby
and the parties will attempt to agree upon a valid and enforceable provision that is a reasonable substitute therefor, and upon
so agreeing, shall incorporate such substitute provision in this Agreement.

 

Section
5.8 Governing Law. All questions concerning the construction, validity, enforcement and interpretation of this Agreement
shall be determined pursuant to the Governing Law provision of the New Warrants.

 

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

 

Section
5.10 Construction. The headings herein are for convenience only, do not constitute a part of this Agreement and shall not
be deemed to limit or affect any of the provisions hereof. The language used in this Agreement will be deemed to be the language
chosen by the parties to express their mutual intent, and no rules of strict construction will be applied against any party.

 

Section
5.11 Fees and Expenses. The Company shall reimburse the Holder for its legal
fees and expenses in connection with the preparation and negotiation of this Agreement and transactions contemplated thereby,
by paying any such amount not exceeding $10,000 to Schulte Roth & Zabel LLP (the “Holder Counsel Expense”)
by wire transfer of immediately available funds in accordance with the written instructions of Schulte Roth & Zabel LLP delivered
to the Company. The Holder Counsel Expense shall be paid by the Company whether or not the transactions contemplated by this Agreement
are consummated. Alternatively, at the election of the Holder, the Holder may offset such amount against the payment of any amounts
due by the Holder upon exercise of its Amended Warrant.] Except as expressly set forth herein, each party shall pay the fees and
expenses of its advisers, counsel, accountants and other experts, if any, and all other expenses incurred by such party incident
to the negotiation, preparation, execution, delivery and performance of this Agreement. The Company shall pay all transfer agent
fees, stamp taxes and other taxes and duties levied in connection with the delivery of any Warrant Shares.

 

    	8

     

    

 

IN
WITNESS WHEREOF, the undersigned have executed this Warrant Amendment Agreement as of the date first written above.

 

	 COMPANY: 	   
	   	   
	 AMEDICA
    CORPORATION 	   
	   	   	   
	 By:
     	                       	   
	 Name:
     	   	   
	 Title: 	   	   

 

    	9

     

    

 

[HOLDER
SIGNATURE PAGES TO AMEDICA CORPORATION

WARRANT
AMENDMENT AGREEMENT] 

 

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

 

	Name
    of Holder: _______________________________________________

 

	Signature
    of Authorized Signatory of Holder: _______________________________________________

 

	Name
    of Authorized Signatory: _______________________________________________

 

	Title
    of Authorized Signatory: _______________________________________________

 

	Email
    Address of Holder: _______________________________________________

 

	Number
    of Original Warrants held: _______________________________________________

 

	Address
    for Delivery of New Warrants for Holder: _______________________________________________

 

    	10

     

    

 

EXHIBIT
A

 

Form
of New Warrant

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