Document:

Exhibit 10.6

 

ADDENDUM NO. 2 TO

 

CONSULTANCY AGREEMENT

 

This ADDENDUM NO. 2
TO CONSULTANCY AGREEMENT (the “Second Addendum”) is made and entered into July 5, 2019 (the “Effective
Date”) by and between United Utilities Authority, Ltd., with its principal place of business located at 5/71 Soi Ramkhamheng
3 Soi 31 Intersection 5, Dokmai Subdistrict, Prawet District, Bangkok (“UUA”), and United Capital Consultants,
Inc., with its principal place of business located at 3210 East Coralbell Avenue, Mesa, AZ 85204, USA (“UCC”).
Each party is hereinafter referred to individually as a “Party” and collectively as the “Parties”).

 

RECITALS

 

WHEREAS,
UUA is a private utility specializing in renewable energy projects and has identified and begun due diligence and
negotiations on potential acquisitions in the form of solar energy farms available for purchase in Thailand (the
“Facility” or “Facilities”);

 

WHEREAS, UCC has expertise
in the area of project structure and finance and desires to finance acquisitions of solar energy farms or acquire solar energy
farms;

 

WHEREAS, UUA
had previously engaged UCC to provide consulting services and assist in financing projects under a Consultancy Agreement executed
and between the parties on July 18, 2018, which is incorporated herein by reference (the “Consultancy Agreement”);

 

WHEREAS,
UUA and UCC entered in an Addendum No. 1 to the Consultancy Agreement dated May 22, 2019 to add to and amend certain terms
and conditions described in the Consultancy Agreement, which is incorporated herein by reference (the “First
Addendum”) and

 

WHEREAS, the
Parties have entered into this Second Addendum to amend the terms and conditions first described in the Consultancy Agreement and
the First Addendum.

 

AGREEMENT

 

NOW, THEREFORE, the Parties hereby agree as
follows:

 

1.     Amendment
of Grant of Option to Purchase the Facilities. To comply with Thai law, Section 1 of the First
Addendum relating to the “Grant of Option to Purchase the Facilities” shall be amended, restated and replaced in
its entirety with the following provisions:

 

“1. Grant of Option to Purchase the Facilities.

 

		a.	Option. As per Exhibit A of the Consultancy
Agreement, UCC may elect to invest its own capital into UUA’s projects. At UCC’s sole discretion, UUA shall grant
to UCC an option to directly purchase up to a 49% equity interest in any Facility to be acquired by UUA (the “Option”).
The terms and conditions of UCCs purchase of an equity interest in any Facility upon exercise of the Option shall be evidenced
by a separate written agreement. Upon completion of the purchase of any such Facility, UCC and UUA shall enter into a separate
agreement to manage and operate such Facilities.

 

		b.	Equity. As
                                                                                                                                              UCC anticipates obtaining direct equity in some of UUA’s other projects or may otherwise acquire an interest in UUA,
                                                                                                                                              UCC shall retain shareholder rights in connection with any shares of UUA or interests in any project companies owned by UUA
                                                                                                                                              subsequently acquired, which shall be independent of this Addendum or the Consultancy Agreement. Such rights may include, but
                                                                                                                                              are not limited to, the right to dividends, the right to vote, and the right to acquire additional shares.”

 

     

     

    

 

2.     Amendment
of Consultancy Fee and Expenses. Section 3 of the Consultancy Agreement relating to “Consultancy Fee
and Expenses” shall be amended, restated and replaced in its entirety with the following provisions:

 

“3. Consultancy Fee and Expenses

 

		a.	Consultancy Fee. In consideration of the Services to be rendered hereunder, UUA shall pay
Consultant a Consultancy Fee at the rates and pursuant to the procedures set forth in Exhibit B (the “Consultancy Fee”).

 

		b.	Expenses. Consultant shall be entitled to reimbursement for all pre-approved expenses reasonably
incurred in the performance of the Services, upon submission and approval of written statements and receipts in accordance with
the then regular procedures of UUA.

 

		c.	Payment. The Consultant shall submit to UUA a monthly invoice detailing the Services performed
and expenses incurred during the preceding month and the amount due. All such invoices shall be due and payable within thirty (30)
calendar days after receipt thereof by UUA.

 

		d.	Hourly Fees Cap. UUA shall be entitled to set a monthly cap on hourly fees. Consultant may
not bill UUA hourly fees for a total amount exceeding the current cap on hourly fees, forfeits the right to bill fees exceeding
the current cap, and may not carry such fees over into future months. UUA may set, remove, or change the cap on hourly fees by
notifying the Consultant in writing at least five (5) days prior to the start of the following month. Said cap will be effective
the following month - unless Consultant gives written consent for the change to be effective immediately - and will remain in effect
for subsequent months until changed or removed.

 

		e.	Equity. In consideration of the Services to be rendered hereunder, UUA shall issue to Consultant
that certain amount of equity interests in UUA such that Consultant shall own 18% of the total issued and outstanding equity interests
of UUA, as calculated on a post-issuance basis.”

 

		3.	Term

 

		a.	Term. This Second Addendum will remain in effect
for the Term of the Consultancy Agreement, including any automatic renewals, unless
otherwise terminated.

 

		4.	Miscellaneous

 

		a.	Effect of Second Addendum. Except as amended as set forth above,
the Consultancy Agreement and the First Addendum shall continue in full force and effect.

 

		b.	Definitions. All capitalized terms used herein without definition
shall have the meanings ascribed to them in the Consultancy Agreement.

 

*               *               *               *

 

    2

     

    

 

SIGNATURES

 

IN WITNESS WHEREOF, and
intending to be legally bound, the Parties have duly executed this Agreement by their authorized representatives as of the date
first written above.

 

	United Utilities Authority, Ltd.	 	United Capital Consultants, Inc.
	 	 	 	 	 
	By:	/s/  Robert A. Buss	 	By:	/s/ Clayton F. Patterson
	Name: 	Mr. Robert A. Buss	 	Name: 	Mr. Clayton F. Patterson
	Title:	Vice President	 	Title:	Chief Executive Officer

 

 

3Exhibit 4.1

 

AMENDMENT NO. 1 TO
CONVERTIBLE NOTE

 

This AMENDMENT NO.
1 TO CONVERTIBLE NOTE (this “Amendment”), dated as of July 9, 2019, is entered into by and among Cryoport, Inc.,
a Nevada corporation (the “Company”), and Petrichor Opportunities Fund I LP (the “Holder”).
Capitalized terms used but not otherwise defined herein shall have the respective meanings ascribed thereto in the Convertible
Note (as defined below).

 

WITNESSETH:

 

WHEREAS, the Company
has heretofore issued to the Holder that certain Convertible Note, dated as of December 14, 2018 (as the same has heretofore been,
and may hereafter be, amended, modified, supplemented, extended, renewed, restated or replaced, the “Convertible Note”);

 

WHEREAS, the Company
and the Holder desire to amend certain provisions of the Convertible Note as set forth herein;

 

WHEREAS, pursuant
to Section 15 of the Convertible Note, in order to effect the amendments to the Convertible Note contemplated by this Amendment,
this Amendment must be approved by the Required Holders; and

 

WHEREAS, the undersigned
Holder constitutes the Required Holders.

 

NOW THEREFORE, in
consideration of the foregoing and the mutual agreements and covenants contained herein, and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

SECTION 1. Amendments.
Subject to the terms and conditions hereof, effective as of the Amendment No. 1 Effective Date (as defined below), the Convertible
Note is hereby amended as follows:

 

(a) Section 2 of the Convertible Note is hereby amended and restated to read in its entirety as follows:

 

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2. Interest.
Interest on this Note shall commence accruing on the Issuance Date at the Interest Rate and shall be computed on the basis of a
360-day year and the actual number of days elapsed per month and shall be payable in arrears for each Calendar Quarter on the first
(1st) Business Day of each Calendar Quarter after the Issuance Date through June 30, 2019 (each, an “Interest
Date”). Interest shall be payable on each Interest Date, to the record holder of this Note on the applicable Interest
Date, by wire transfer of immediately available funds pursuant to wire instructions provided by the Holder in writing to the Company.
Interest on this Note for the Calendar Quarter ended on June 30, 2019 shall be payable to the record holder of this Note on or
prior to July 12, 2019 by wire transfer of immediately available funds pursuant to wire instructions provided by the Holder in
writing to the Company. After June 30, 2019, Interest on this Note shall accrue at the Interest Rate and be payable by way of inclusion
of the Interest in the Conversion Amount in connection with any conversion of this Note under Section 3, on each Redemption Date
and/or in connection with any required payment upon any Bankruptcy Event of Default; provided that solely with respect to such
accrued but unpaid Interest, the Conversion Price shall mean an amount equal to the average VWAP of the Common Stock for the fifteen
(15) consecutive Trading Days prior to the Conversion Date. Interest shall accrue on a simple basis and shall not compound.

 

(b) Section 3.5(a) of the Convertible Note is hereby amended and restated to read in its entirety as follows:

 

(a) General.
On December 14, 2019 (the “Mandatory Conversion Date”), so long as no Equity Conditions Failure exists as of
the Mandatory Conversion Date, all of the Conversion Amount of this Note shall automatically convert into fully paid, validly issued
and nonassessable shares of Common Stock in accordance with Section 3.3 hereof at the Conversion Rate as of the Mandatory Conversion
Date (a “Mandatory Conversion”). The Company shall deliver within two (2) Trading Days following the Mandatory
Conversion Date a written notice thereof by facsimile and overnight courier to all, but not less than all, of the holders of Notes
and the Transfer Agent (the “Mandatory Conversion Notice”). The Mandatory Conversion Notice shall state (i)
the Mandatory Conversion Date, (ii) the aggregate Conversion Amount of the Notes subject to mandatory conversion from the Holder
and all of the holders of the Notes pursuant to this Section 3.5 (and analogous provisions under the Other Notes) (the “Mandatory
Conversion Amount”), (iii) the number of shares of Common Stock issued to the Holder on the Mandatory Conversion Date,
and (iv) that there has been no Equity Conditions Failure as of the Mandatory Conversion Date. Notwithstanding anything herein
to the contrary, at any time prior to the date all of the shares of Common Stock to be delivered to the Holder (or its designee)
in such Mandatory Conversion have been delivered in full in compliance with Section 3.3 above, the Mandatory Conversion Amount
may be converted, in whole or in part, by the Holders into shares of Common Stock pursuant to Section 3. Notwithstanding anything
to the contrary in this Note, a Mandatory Conversion is not subject to the limitations contained in Section 3.4 (Limitations on
Conversions).

 

    	 	2	 

     

    

 

(c) Section 3.5(b) of the Convertible Note is hereby amended and restated to read in its entirety as follows:

 

(b) [Reserved]

 

(d) Section 13.1 of the Convertible Note is hereby amended and restated to read in its entirety as follows:

 

13.1 Rank.
All payments due under this Note shall rank pari passu with all Other Notes.

 

(e) Section 13.2 of the Convertible Note is hereby amended and restated to read in its entirety as follows:

 

(b) [Reserved]

 

(f) Clause (iii) of the definition of “Equity Conditions” set forth in Section 31.38 of the Convertible Note is
hereby amended and restated to read in its entirety as follows:

 

(iii) subject to
the provisions of Section 8.1(f), any shares of Common Stock to be issued in connection with the event requiring determination
(or issuable upon conversion of the Conversion Amount being redeemed in the event requiring this determination) may be issued in
full without violating Section 3.4 hereof (provided, that, this clause (iii) shall not constitute an “Equity Condition”
with respect to any Mandatory Conversion under Section 3.5);

 

(g) The definition of “Interest Rate” set forth in Section 31.63 of the Convertible Note is hereby amended and restated
to read in its entirety as follows:

 

“Interest
Rate” means, as of any date, an annual rate per annum equal to (A) with respect to any date during the period from the
Issuance Date through June 30, 2019, the sum of (i) the greater of (x) the LIBOR Rate as of such date, and (y) 2.00%, plus (ii)
6.00%, and (B) with respect to any date from and after June 30, 2019, 6.00%.

 

SECTION 2. Acknowledgement.
The parties hereto acknowledge that the parties entered into that certain Waiver, dated June 24, 2019 (the “Waiver”),
pursuant to which the parties agreed that, in the event the Mandatory Conversion Date under Section 3.5 of the Convertible Note
occurs prior to July 10, 2019 (the “Deferred Mandatory Conversion Date”), the Mandatory Conversion Date shall
be deemed to occur on the Deferred Mandatory Conversion Date. The parties hereto acknowledge and agree that, effective as of the
Amendment No. 1 Effective Date, notwithstanding anything to the contrary set forth in the Waiver, the Mandatory Conversion Date
shall not be deemed to occur on the Deferred Mandatory Conversion Date and no Mandatory Conversion shall be deemed to occur unless
the Mandatory Conversion Date shall occur under the terms of the Convertible Note as amended by this Amendment.

 

SECTION 3. Conditions
Precedent. This Amendment shall only become effective upon the date (the “Amendment No. 1 Effective Date”)
on which the Company and the Holder shall have received counterparts of this Amendment, duly executed and delivered by the Company
and the Holder.

 

    	 	3	 

     

    

 

SECTION 4. Effect
of this Amendment; Ratification. Except as expressly set forth herein, no other amendments, consents, changes or modifications
to the Convertible Note or the Securities Purchase Agreement are intended or implied, and in all other respects the Convertible
Note and the Securities Purchase Agreement are hereby specifically ratified and confirmed by all parties hereto as of the Amendment
No. 1 Effective Date. This Amendment shall not operate as a waiver of any obligation of the Company under the Convertible Note
or the Securities Purchase Agreement. This Amendment is not a novation or discharge of any of the obligations of the Company under
the Convertible Note or the Securities Purchase Agreement. The Convertible Note and this Amendment shall be read and construed
as one agreement. For the benefit of the Holder, the Company hereby ratifies and reaffirms all of its payment and performance obligations,
contingent or otherwise, under the Convertible Note and the Securities Purchase Agreement and agrees that the Convertible Note
and the Securities Purchase Agreement shall continue to be in full force and effect.

 

SECTION 5. Governing
Law. This Amendment shall be deemed to be a contract made under, governed by and interpreted pursuant to the internal laws
(and not the law of conflicts) of the State of New York.

 

SECTION 6. Binding
Effect. This Amendment shall be binding upon and inure to the benefit of each of the parties hereto and their respective successors
and permitted assigns.

 

SECTION 7. Captions.
The captions in this Amendment are intended for convenience only and do not constitute and shall not be interpreted as part of
this Amendment.

 

SECTION 8. No Course
of Dealing. The Company and the Holder acknowledges that the execution and delivery of this Amendment has not established any
course of dealing between the parties hereto or created any obligation or agreement with respect to any future restructuring, modification,
amendment, extension, waiver, or forbearance with respect to the Convertible Note or the Securities Purchase Agreement or any of
the terms thereof.

 

SECTION 9. Counterparts.
This Amendment may be executed in any number of and by different parties hereto on separate counterparts, all of which, when so
executed, shall be deemed an original, but all such counterparts shall constitute one and the same agreement. Any signature delivered
by a party by facsimile or electronic transmission (including email transmission of a PDF image) shall be deemed to be an original
signature hereto.

 

[Signature Pages Follow]

 

    	 	4	 

     

    

 

IN WITNESS WHEREOF,
the parties hereto have caused this Amendment to be duly executed and delivered by their authorized officers as of the day and
year first above written.

 

	 	COMPANY:
	 	 
	 	CRYOPORT, INC.
	 	 
	 	By: 	/s/ Robert Stefanovich
	 	Name: 	Robert Stefanovich
	 	Title: 	Chief Financial Officer
	 	 	 
	 	HOLDER:
	 	 
	 	PETRICHOR OPPORTUNITIES FUND I LP
	 	 
	 	By: Petrichor Opportunities Fund I GP LLC
	 	 
	 	By: 	/s/ Tadd Wessel
	 	Name: 	Tadd Wessel
	 	Title: 	Managing Partner

 

 

    	 	[Signature Page to Amendment No. 1 to Convertible Note]

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