Document:

Exhibit 4.1

 

Execution
Version

 

AMENDED AND RESTATED REGISTRATION RIGHTS
AGREEMENT

 

This AMENDED AND RESTATED
REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is dated as of July 1, 2020, by and among (i) AdaptHealth
Holdings LLC, a Delaware limited liability company (the “Company”), (ii) AdaptHealth Corp., a Delaware
corporation (“Pubco”), (iii) each of the Persons listed on the Schedule of Investors attached hereto as
of the date hereof, and (iv) each of the other Persons set forth from time to time on the Schedule of Investors who, at any
time, own securities of the Company or Pubco and enter into a Joinder to this Agreement agreeing to be bound by the terms hereof
(each Person identified in the foregoing (iii) and (iv), an “Investor” and, collectively, the “Investors”).
This Agreement shall become effective as of the Closing pursuant to the OEP Investment Agreement (as defined below). Unless otherwise
provided in this Agreement, capitalized terms used herein shall have the meanings set forth in Section 12 hereof.

 

WHEREAS, Pubco and certain
of the Investors are parties to that certain Registration Rights Agreement, dated as of November 8, 2019, as amended (the
 “Prior Agreement”);

 

WHEREAS, Pubco and OEP
AHCO Investment Holdings, LLC (“OEP”) entered into an Investment Agreement, dated as of May 25, 2020 (the
 “OEP Investment Agreement”), pursuant to which, OEP agreed to purchase and Pubco agreed to sell shares of Series A
Convertible Preferred Stock, par value $0.0001 per share (the “Series A Preferred Stock”), of Pubco;

 

WHEREAS, Pubco and Deerfield
Partners, L.P. (“Deerfield Partners”) (together with Deerfield Private Design Fund IV, the “Deerfield
Investors”) entered into an Investment Agreement, dated as of June 24, 2020 (the “Deerfield Investment
Agreement”), pursuant to which, Deerfield Partners agreed to purchase and Pubco agreed to sell shares of Series B-2
Convertible Preferred Stock, par value $0.0001 per share (the “Series B-2 Preferred Stock”), of Pubco;

 

WHEREAS, Section 13(d) of
the Prior Agreement provides that an amendment may occur with the prior written consent of Pubco and the holders of a majority
of the Registrable Securities (as such term is used therein) then outstanding (the “Requisite Holders”); and

 

WHEREAS, Pubco and the
Requisite Holders desire to amend and restate the terms and conditions of the Prior Agreement and to provide for the terms and
conditions included herein and to include the recipients of the other Registrable Securities identified herein.

 

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

 

     

     

    

 

1.            Resale
Shelf Registration Rights.

 

(a)            Registration
Statement Covering Resale of Registrable Securities. Pubco filed with the Commission a Registration Statement on Form S-1
(“Form S-1”) for an offering to be made on a delayed or continuous basis pursuant to Rule 415 of the
Securities Act registering the resale from time to time by the Investors of all of the Registrable Securities held by the Investors
(other than OEP) (the “Existing Resale Shelf Registration Statement”). Pubco shall use reasonable best efforts
to keep the Existing Resale Shelf Registration Statement continuously effective to be supplemented and amended to the extent necessary
to ensure that such Existing Resale Shelf Registration Statement is available or, if not available, to ensure that another Registration
Statement is available (which replacement Registration Statement shall be deemed an Existing Resale Shelf Registration Statement),
under the Securities Act at all times until such date as all Registrable Securities covered by the Existing Resale Shelf Registration
Statement, including the Registrable Securities held by the OEP Parties to be added to the Existing Resale Shelf Registration Statement
in accordance with Section 1(b), have been disposed of in accordance with the intended method(s) of distribution set
forth in such Registration Statement or such securities have been withdrawn (the “Effectiveness Period”); provided,
that Pubco may amend the Existing Resale Shelf Registration Statement in accordance with Section 1(b) and Section 1(c).
Without limiting the foregoing or any of Pubco’s obligations under this Agreement, the Company will take such actions, including
filing supplements to the prospectus included in such Registration Statement, as shall be necessary to ensure that the Existing
Resale Shelf Registration Statement remains effective and available for the resale of all of the shares of Common Stock issuable
upon conversion or otherwise in respect of any Series B-1 Preferred Stock (in addition to all of the other Registrable Securities
covered by the Existing Resale Shelf Registration Statement) in accordance with the plan of distribution set forth therein. The
Existing Resale Shelf Registration Statement shall contain a Prospectus in such form as to permit any Investor to sell such Registrable
Securities pursuant to Rule 415 under the Securities Act (or any successor or similar provision adopted by the Commission
then in effect) at any time beginning on the effective date for such Registration Statement (subject to lock-up restrictions provided
in this Agreement and in the Lock-Up Agreements), and shall provide that such Registrable Securities may be sold pursuant to any
method or combination of methods legally available to, and requested by, the Investors; provided, that Pubco may amend the Existing
Resale Shelf Registration Statement in accordance with Section 1(b), Section 1(c), Section 1(d) or Section 1(e).

 

(b)            Pubco
shall use its reasonable best efforts to prepare and file or cause to be prepared and filed with the SEC no later than the date
that is sixty (60) days prior to the Restricted Period Termination Date (as defined in the OEP Investment Agreement), either, at
the sole discretion of Pubco, (x) a Registration Statement for an offering to be made on a continuous basis pursuant to Rule 415
of the Securities Act (provided, that such Registration Statement replaces and becomes the Existing Resale Shelf Registration Statement)
or (y) an amendment or prospectus supplement to the Existing Resale Shelf Registration Statement registering the resale from
time to time by the OEP Parties of all of the Registrable Securities held by the OEP Parties (such Registration Statement, as amended,
the “OEP Resale Shelf Registration Statement”). The OEP Resale Shelf Registration Statement shall be on Form S-3
or, if Form S-3 is not then available to Pubco, on Form S-1 or such other appropriate form permitting Registration of
the Registrable Securities for resale by the OEP Parties. The OEP Resale Shelf Registration Statement shall contain a Prospectus
in such form as to permit the OEP Parties to sell the Registrable Securities pursuant to Rule 415 under the Securities Act
(or any successor or similar provision adopted by the SEC then in effect) at any time beginning on the effective date for the OEP
Resale Shelf Registration Statement (subject to lock-up or transfer restrictions pursuant to Section 5.3 of the OEP Investment
Agreement and in this Agreement), and shall provide that the Registrable Securities held by the OEP Parties may be sold pursuant
to any method or combination of methods legally available to, and requested by, the OEP Parties. Pubco shall use its reasonable
best efforts to cause the OEP Resale Shelf Registration Statement to be declared effective as soon as possible after filing, but
in no event later than the Restricted Period Termination Date. Once effective, Pubco shall use its reasonable best efforts to keep
the OEP Resale Shelf Registration Statement continuously effective and in compliance with the Securities Act and useable for the
resale of the Registrable Securities covered by the OEP Resale Shelf Registration Statement, including by filing successive replacement
or renewal OEP Resale Shelf Registration Statements upon the expiration of the OEP Resale Shelf Registration Statement, until such
time as the OEP Parties no longer hold Registrable Securities. The OEP Parties shall be entitled, at any time and from time to
time when the OEP Resale Shelf Registration Statement is effective (subject to lock-up or transfer restrictions provided the OEP
Investment Agreement and in this Agreement), to sell any or all of the Registrable Securities covered by the OEP Resale Shelf Registration
Statement. Notwithstanding the first sentence of this Section 1(b), in the event of the occurrence of a Restricted
Period Early Termination Event (as defined in the OEP Investment Agreement) prior to the date that is sixty (60) days prior to
the Restricted Period Termination Date, Pubco shall use reasonable best efforts to file and cause to be declared effective the
OEP Resale Shelf Registration Statement for the Registrable Securities with respect to which the lockup period has terminated within
thirty (30) days following such termination. Pubco shall pay all Registration Expenses in connection with the filing of the OEP
Resale Shelf Registration Statement.

 

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(c)          If
any OEP Party becomes a holder of Registrable Securities after the OEP Resale Shelf Registration Statement is declared effective
in accordance with Section 1(b), and such OEP Party has executed a Joinder entitling it to the benefits of this Agreement,
then Pubco shall, as promptly as is reasonably practicable following delivery of written notice to Pubco of such OEP Party becoming
a holder of Registrable Securities and requesting for its name to be included as a selling securityholder in the Prospectus related
to the OEP Resale Shelf Registration Statement:

 

(i)            if
required and permitted by applicable law, file with the Commission a supplement to the related Prospectus or a post-effective amendment
to the OEP Resale Shelf Registration Statement so that such OEP Party is named as a selling securityholder in the OEP Resale Shelf
Registration Statement and the related Prospectus in such a manner as to permit such OEP Party to deliver a prospectus to purchasers
of the Registrable Securities in accordance with applicable law; provided, however, that Pubco shall not be required to file more
than one post-effective amendment or a supplement to the related prospectus for such purpose in any 45-day period;

 

(ii)           if,
pursuant to Section 1(c)(i), Pubco shall have filed a post-effective amendment to the OEP Resale Shelf Registration
Statement that is not automatically effective, use its reasonable best efforts to cause such post-effective amendment to become
effective under the Securities Act as promptly as is reasonably practicable; and

 

(iii)         notify
such OEP Party as promptly as is reasonably practicable after the effectiveness of any post-effective amendment filed pursuant
to Section 1(c)(i).

 

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(d)            Pubco
shall use its reasonable best efforts to prepare and file or cause to be prepared and filed with the SEC, as soon as reasonably
possible following the date hereof, but in no event later than the fifteenth (15th) day following the date hereof, either,
at the sole discretion of Pubco, (x) a Registration Statement for an offering to be made on a continuous basis pursuant to
Rule 415 of the Securities Act (provided, that such Registration Statement replaces and becomes the Existing Resale Shelf
Registration Statement) or (y) to the extent permitted under applicable Law, an amendment or prospectus supplement to the
Existing Resale Shelf Registration Statement registering the resale from time to time by each Deerfield Party of all of the Registrable
Securities held by it (such Registration Statement, as amended, the “Deerfield Resale Shelf Registration Statement”).
The Deerfield Resale Shelf Registration Statement shall be on Form S-3 or, if Form S-3 is not then available to Pubco,
on Form S-1 or such other appropriate form permitting Registration of Registrable Securities for resale by the Deerfield Parties.
The Deerfield Resale Shelf Registration Statement shall contain a Prospectus in such form as to permit each Deerfield Party to
sell the Registrable Securities pursuant to Rule 415 under the Securities Act (or any successor or similar provision adopted
by the SEC then in effect) at any time beginning on the effective date for the Deerfield Resale Shelf Registration Statement (subject
to lock-up or transfer restrictions pursuant to Section 5.3 of the Deerfield Investment Agreement and Section 4(a) hereof),
and shall provide that the Registrable Securities held by each Deerfield Party may be sold pursuant to any method or combination
of methods legally available to, and requested by, such Deerfield Party and in accordance with a plan of distribution approved
by such Deerfield Party. Pubco shall use its reasonable best efforts to cause the Deerfield Resale Shelf Registration Statement
to be declared effective as soon as possible after filing, but in no event later than the ninetieth (90th) day following the Closing
Date. Without limiting the foregoing, as soon as practicable, but in no event later than five (5) business days, following
the resolution or clearance of all SEC comments or, if applicable, following notification by the SEC that any such Registration
Statement or any amendment thereto will not be subject to review, Pubco shall file a request for acceleration of effectiveness
of such Registration Statement (to the extent required, by declaration or ordering of effective, of such Registration Statement
or amendment by the SEC) to a time and date not later than two (2) business days after the submission of such request. No
later than two (2) business days after the Registration Statement becomes effective, Pubco shall file with the SEC the final
prospectus included in the Registration Statement pursuant to Rule 424 (or successor thereto) under the Securities Act. Once
effective, Pubco shall use its reasonable best efforts to keep the Deerfield Resale Shelf Registration Statement continuously effective
and in compliance with the Securities Act and useable for the resale of the Registrable Securities covered by the Deerfield Resale
Shelf Registration Statement, including by filing successive replacement or renewal Deerfield Resale Shelf Registration Statements
upon the expiration of the Deerfield Resale Shelf Registration Statement, until such time as no Deerfield Party holds any Registrable
Securities. Each Deerfield Party shall be entitled, at any time and from time to time when the Deerfield Resale Shelf Registration
Statement is effective, to sell any or all of the Registrable Securities held by it and covered by the Deerfield Resale Shelf Registration
Statement. Pubco shall pay all Registration Expenses in connection with the filing of the Deerfield Resale Shelf Registration Statement.

 

(e)            If
any Deerfield Party becomes a holder of Registrable Securities after the Deerfield Resale Shelf Registration Statement is declared
effective in accordance with Section 1(d), and such Deerfield Party has executed a Joinder entitling it to the benefits
of this Agreement, then Pubco shall, as promptly as is reasonably practicable following delivery of written notice to Pubco of
such Deerfield Party becoming a holder of Registrable Securities and requesting for its name to be included as a selling securityholder
in the Prospectus related to the Deerfield Resale Shelf Registration Statement:

 

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(i)           if
required and permitted by applicable law, file with the Commission a supplement to the related Prospectus or a post-effective amendment
to the Deerfield Resale Shelf Registration Statement so that such Deerfield Party is named as a selling securityholder in the Deerfield
Resale Shelf Registration Statement and the related Prospectus in such a manner as to permit such Deerfield Party to deliver a
prospectus to purchasers of the Registrable Securities in accordance with applicable law; provided, however, that Pubco shall not
be required to file more than one post-effective amendment or a supplement to the related prospectus for such purpose in any 45-day
period;

 

(ii)          if,
pursuant to Section 1(e)(i), Pubco shall have filed a post-effective amendment to the Deerfield Resale Shelf Registration
Statement that is not automatically effective, use its reasonable best efforts to cause such post-effective amendment to become
effective under the Securities Act as promptly as is reasonably practicable; and

 

(iii)         notify
such Deerfield Party as promptly as is reasonably practicable after the effectiveness of any post-effective amendment filed pursuant
to Section 1(e)(i).

 

(f)          Registrations
effected pursuant to this Section 1 shall not be counted as Demand Registrations effected pursuant to Section 2.

 

2.            Demand
Registrations.

 

(a)          Requests
for Registration. Subject to the terms and conditions of this Agreement and of the Lock-Up Agreements, at any time or from
time to time, the holders of Registrable Securities may request registration under the Securities Act of all or any portion of
their Registrable Securities on Form S-1 or any similar long-form registration statement (“Long-Form Registrations”)
or, if available, on Form S-3 (including a shelf registration pursuant to Rule 415 under the Securities Act) or any similar
short-form registration statement, including an automatic shelf registration statement (as defined in Rule 405) (an “Automatic
Shelf Registration Statement”), if available to Pubco (“Short-Form Registrations”) in accordance
with Section 2(b) and Section 2(c) below (such holders being referred to herein as the “Initiating
Investors” and all registrations requested by the Initiating Investors being referred to herein as “Demand Registrations”).
Each request for a Demand Registration shall specify the approximate number of Registrable Securities requested to be registered
and the intended method of distribution. Within five (5) Business Days after receipt of any such request, Pubco shall give
written notice of such requested registration to all other holders of Registrable Securities and, subject to the terms and conditions
set forth herein, shall include in such registration (and in all related registrations and qualifications under state blue sky
laws or in compliance with other registration requirements and in any related underwriting) all such Registrable Securities with
respect to which Pubco has received written requests for inclusion therein within five (5) Business Days after the receipt
of Pubco’s notice. Each holder of Registrable Securities agrees that such holder shall treat as confidential the receipt
of the notice of Demand Registration and shall not disclose or use the information contained in such notice of Demand Registration
without the prior written consent of Pubco until such time as the information contained therein is or becomes available to the
public generally, other than as a result of disclosure by the holder in breach of the terms of this Agreement.

 

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(b)            Long-Form Registrations.
(i) The OEP Parties may request an aggregate of three (3), (ii) the Deerfield Parties may request an aggregate of one
(1) and (iii) the Investors (other than any OEP Party) holding a majority of the Registrable Securities (other than those
held by the OEP Parties) may request an aggregate of one (1) Long-Form Registration in which Pubco shall pay all Registration
Expenses whether or not any such Long-Form Registration has become effective; provided that, Pubco shall not be obligated
to effect, or to take any action to effect, any Long-Form Registration unless the aggregate market price of the Registrable
Securities requested to be registered in such Long-Form Registration exceeds $20,000,000 at the time of request; provided,
further, that Pubco shall only be obligated to effect, or take any action to effect, three (3) Long-Form Registrations
in the case of any request therefor by any of the OEP Parties, one (1) Long-Form Registrations in the case of any request
therefor by any of the Deerfield Parties and one (1) Long-Form Registration in the case of any request therefor by Investors
(other than any OEP Party) holding a majority of the Registrable Securities (other than those held by the OEP Parties). A registration
shall not count as a permitted Long-Form Registration until it has become effective and unless the holders of Registrable
Securities are able to register and sell at least 90% of the Registrable Securities requested to be included in such registration;
provided that in any event Pubco shall pay all Registration Expenses in connection with any registration initiated as a Long-Form Registration
whether or not it has become effective and whether or not such registration has counted as one of the permitted Long-Form Registrations
hereunder.

 

(c)            Short-Form Registrations.
In addition to the Long-Form Registration provided pursuant to Section 2(b), each of (i) the Investors holding
a majority of the Common Units not held by Pubco, (ii) the Investors holding a majority of the Founder Shares, (iii) the
Investors holding a majority of the PIPE Shares (including any Common Stock issuable in respect of any Series B-1 Preferred
Stock that was exchanged for PIPE Shares), (iv) the Deerfield Parties and (v) the OEP Parties, in each case, shall be
entitled to request an unlimited number of Short-Form Registrations in which Pubco shall pay all Registration Expenses whether
or not any such Short-Form Registration has become effective; provided, however, that Pubco shall not be obligated to effect
any such Short-Form Registration: (i) if the holders of Registrable Securities, together with the holders of any other
securities of Pubco entitled to inclusion in such Short-Form Registration, propose to sell Registrable Securities with an
aggregate market price at the time of request of less than $5,000,000, or (ii) if Pubco has, within the twelve (12) month
period preceding the date of such request, already effected three (3) Short-Form Registrations for the holders of Registrable
Securities requesting a Short-Form Registration pursuant to this Section 2(c). Demand Registrations shall be Short-Form Registrations
whenever Pubco is permitted to use any applicable short form registration and if the managing underwriters (if any) agree to the
use of a Short-Form Registration. For so long as Pubco is subject to the reporting requirements of the Exchange Act, Pubco
shall use its reasonable best efforts to make Short-Form Registrations available for the offer and sale of Registrable Securities.
If Pubco is qualified to and, pursuant to the request of the holders of a majority of the Registrable Securities, has filed with
the Commission a registration statement under the Securities Act on Form S-3 pursuant to Rule 415 (a “Shelf
Registration”), then Pubco shall use its reasonable best efforts to cause the Shelf Registration to be declared effective
under the Securities Act as soon as practicable after filing, and, if Pubco is a WKSI at the time of any such request, to cause
such Shelf Registration to be an Automatic Shelf Registration Statement, and once effective, Pubco shall cause such Shelf Registration
to remain effective (including by filing a new Shelf Registration, if necessary) for a period ending on the earlier of (i) the
date on which all Registrable Securities included in such registration have been sold or distributed pursuant to the Shelf Registration
or (ii) the date as of which all of the Registrable Securities included in such registration are able to be sold within a
90-day period in compliance with Rule 144 under the Securities Act. If for any reason Pubco ceases to be a WKSI or becomes
ineligible to utilize Form S-3, Pubco shall prepare and file with the Commission a registration statement or registration
statements on such form that is available for the sale of Registrable Securities.

 

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(d)            Shelf
Takedowns. At any time when the Existing Resale Shelf Registration Statement, OEP Resale Shelf Registration Statement, the
Deerfield Resale Shelf Registration Statement or a Shelf Registration for the sale or distribution by holders of Registrable Securities
on a delayed or continuous basis pursuant to Rule 415, including by way of an underwritten offering, block sale or other distribution
plan (each, a “Resale Shelf Registration”) is effective and its use has not been otherwise suspended by Pubco
in accordance with the terms of Section 2(f) below, upon a written demand (a “Takedown Demand”)
by any Investor that is, in either case, a Shelf Participant holding Registrable Securities at such time (the “Initiating
Holder”), Pubco will facilitate in the manner described in this Agreement a “takedown” of Registrable Securities
off of such Resale Shelf Registration (a “takedown offering”) and Pubco shall pay all Registration Expenses
in connection therewith; provided that Pubco will provide (x) in connection with any non-marketed underwritten takedown offering
(other than a Block Trade), at least two (2) Business Days’ notice of such Takedown Demand to each holder of Registrable
Securities (other than the Initiating Holder) that is a Shelf Participant, (y) in connection with any Block Trade initiated
prior to November 8, 2022, notice of such Takedown Demand to each holder of Registrable Securities (other than the Initiating
Holder) that is a Shelf Participant no later than noon Eastern time on the Business Day prior to the requested Takedown Demand
and (z) in connection with any marketed underwritten takedown offering, at least five (5) Business Days’ notice
of such Takedown Demand to each holder of Registrable Securities (other than the Initiating Holder) that is a Shelf Participant.
In connection with (x) any non-marketed underwritten takedown offering initiated prior to November 8, 2022 and (y) any
marketed underwritten takedown offering, if any Shelf Participants entitled to receive a notice pursuant to the preceding sentence
request inclusion of their Registrable Securities (by notice to Pubco, which notice must be received by Pubco no later than (A) in
the case of a non-marketed underwritten takedown offering (other than a Block Trade), the Business Day following the date notice
is given to such participant, (B) in the case of a Block Trade, by 10:00 p.m. Eastern time on the date notice is given
to such participant and (C) in the case of a marketed underwritten takedown offering, three (3) Business Days following
the date notice is given to such participant), the Initiating Holder and the other Shelf Participants that request inclusion of
their Registrable Securities shall be entitled to sell their Registrable Securities in such offering. Each holder of Registrable
Securities that is a Shelf Participant agrees that such holder shall treat as confidential the receipt of the notice of a Takedown
Demand and shall not disclose or use the information contained in such notice without the prior written consent of Pubco until
such time as the information contained therein is or becomes available to the public generally, other than as a result of disclosure
by the holder in breach of the terms of this Agreement.

 

(e)            Priority
on Demand Registrations and Takedown Offerings. Pubco shall not include in any Demand Registration that is an underwritten
offering any securities that are not Registrable Securities without the prior written consent of the managing underwriters and
the holders of a majority of the Registrable Securities then outstanding. If a Demand Registration or a takedown offering is an
underwritten offering and the managing underwriters advise Pubco in writing that in their opinion the number of Registrable Securities
and, if permitted hereunder, other securities requested to be included in such offering exceeds the number of Registrable Securities
and other securities, if any, which can be sold in an orderly manner in such offering within a price range acceptable to the holders
of a majority of the Registrable Securities held by Initiating Investors, Pubco shall include in such offering prior to the inclusion
of any securities which are not Registrable Securities the Registrable Securities requested to be included in such registration
(pro rata among the holders of such Registrable Securities on the basis of the number of Registrable Securities owned by each such
holder).

 

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(f)           Restrictions
on Demand Registrations and Takedown Offerings. Any demand for the filing of a registration statement or for a registered offering
(including a takedown offering) hereunder will be subject to the constraints of any applicable lock-up arrangements to which any
demanding Investor is party, and any such demand must be deferred until such lock-up arrangements no longer apply.

 

(i)            Pubco
shall not be obligated to effect any Demand Registration within 30 days prior to Pubco’s good faith estimate of the date
of filing of an underwritten Public Offering of Pubco’s securities and for such a period of time after such a filing as the
managing underwriters request, provided that such period shall not exceed 90 days from the effective date of any such underwritten
Public Offering. Pubco may postpone, for up to 60 days from the date of the request (the “Suspension Period”),
the filing or the effectiveness of a registration statement for a Demand Registration or suspend the use of a prospectus that is
part of any Resale Shelf Registration (and therefore suspend sales of the Registrable Securities included therein) by providing
written notice to the holders of Registrable Securities if the board of directors of Pubco reasonably determines in good faith
that the offer or sale of Registrable Securities would be expected to have a material adverse effect on any proposal or plan by
Pubco or any subsidiary thereof to engage in any material acquisition or disposition of assets or stock (other than in the ordinary
course of business) or any material merger, consolidation, tender offer, recapitalization, reorganization or similar transaction
or would require Pubco to disclose any material nonpublic information which would reasonably be likely to be detrimental to Pubco
and its subsidiaries; provided that in such event, the holders of Registrable Securities initially requesting such Demand Registration
or Takedown Demand shall be entitled to withdraw such request. Pubco may delay or suspend the effectiveness of a Demand Registration
or takedown offering pursuant to this Section 2(f)(i) only once in any consecutive twelve-month period; provided
that, for the avoidance of doubt, Pubco may in any event delay or suspend the effectiveness of Demand Registration or takedown
offering in the case of an event described under Section 5(g) to enable it to comply with its obligations set
forth in Section 5(f). Pubco may extend the Suspension Period for an additional consecutive 60 days with the consent
of the Applicable Approving Party.

 

(ii)          In
the case of an event that causes Pubco to suspend the use of any Resale Shelf Registration as set forth in Section 2(f)(i) or
pursuant to Section 5(g) (a “Suspension Event”), Pubco shall give a notice to the holders of
Registrable Securities registered pursuant to such Shelf Registration (a “Suspension Notice”) to suspend sales
of the Registrable Securities and such notice shall state generally the basis for the notice and that such suspension shall continue
only for so long as the Suspension Event or its effect is continuing. A holder of Registrable Securities shall not effect any sales
of the Registrable Securities pursuant to such Resale Shelf Registration (or such filings) at any time after it has received a
Suspension Notice from Pubco and prior to receipt of an End of Suspension Notice (as defined below). Each holder of Registrable
Securities agrees that such holder shall treat as confidential the receipt of the Suspension Notice and shall not disclose or use
the information contained in such Suspension Notice without the prior written consent of Pubco until such time as the information
contained therein is or becomes available to the public generally, other than as a result of disclosure by such holder in breach
of the terms of this Agreement. The holders of Registrable Securities may recommence effecting sales of the Registrable Securities
pursuant to the Resale Shelf Registration (or such filings) following further written notice to such effect (an “End of
Suspension Notice”) from Pubco, which End of Suspension Notice shall be given by Pubco to the holders of Registrable
Securities and to such holders’ counsel, if any, promptly following the conclusion of any Suspension Event.

 

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(iii)         Notwithstanding
any provision herein to the contrary, if Pubco shall give a Suspension Notice with respect to any Resale Shelf Registration pursuant
to this Section 2(f), Pubco agrees that it shall extend the period of time during which such Resale Shelf Registration
shall be maintained effective pursuant to this Agreement by the number of days during the period from the date of receipt by the
holders of the Suspension Notice to and including the date of receipt by the holders of the End of Suspension Notice and provide
copies of the supplemented or amended prospectus necessary to resume sales, with respect to each Suspension Event; provided that
such period of time shall not be extended beyond the date that Common Stock covered by such Resale Shelf Registration are no longer
Registrable Securities.

 

(g)          Selection
of Underwriters. In connection with any Demand Registration, the Applicable Approving Party shall have the right to select
the investment banker(s) and manager(s) to administer the offering; provided that such selection shall be subject to
the written consent of Pubco, which consent will not be unreasonably withheld, conditioned or delayed. If any takedown offering
is an underwritten offering, the Applicable Approving Party shall have the right to select the investment banker(s) and manager(s) to
administer such takedown offering. In each case, the Applicable Approving Party shall have the right to approve the underwriting
arrangements with such investment banker(s) and manager(s) on behalf of all holders of Registrable Securities participating
in such offering. All Investors proposing to distribute their securities through underwriting shall (together with Pubco and the
Company) enter into an underwriting agreement in customary form with the underwriter or underwriters selected for such underwriting.

 

(h)          Other
Registration Rights. Pubco represents and warrants to each holder of Registrable Securities that the registration rights granted
in this Agreement do not conflict with any other registration rights granted by Pubco. Except as provided in this Agreement, Pubco
shall not grant to any Persons the right to request Pubco to register any equity securities of Pubco, or any securities, options
or rights convertible or exchangeable into or exercisable for such securities, without the prior written consent of the holders
of a majority of the Registrable Securities then outstanding.

 

(i)          Revocation
of Demand Notice or Takedown Notice. At any time prior to the effective date of the registration statement relating to a Demand
Registration or the “pricing” of any offering relating to a Takedown Demand, the holders of Registrable Securities
that requested such Demand Registration or takedown offering may revoke such request for a Demand Registration or takedown offering
on behalf of all holders of Registrable Securities participating in such Demand Registration or takedown offering without liability
to such holders of Registrable Securities, in each case by providing written notice to Pubco.

 

    - 9 -

     

    

 

3.            Piggyback
Registrations.

 

(a)            Right
to Piggyback. Whenever Pubco proposes to register an offering of any of its securities under the Securities Act (other than
(i) pursuant to the Existing Resale Shelf Registration Statement, OEP Resale Shelf Registration Statement or Deerfield Resale
Shelf Registration Statement), (ii) pursuant to a Demand Registration, (iii) pursuant to a Takedown Demand, (iv) in
connection with registrations on Form S-4 or S-8 promulgated by the Commission or any successor forms, (v) a registration
relating solely to employment benefit plans, (vi) in connection with a registration the primary purpose of which is to register
debt securities, or (vii) a registration on any form that does not include substantially the same information as would be
required to be included in a registration statement covering the sale of Registrable Securities) and the registration form to be
used may be used for the registration of Registrable Securities (a “Piggyback Registration”), Pubco shall give
prompt written notice to all holders of Registrable Securities of its intention to effect such a Piggyback Registration and, subject
to the terms of Sections 3(c) and 3(d) hereof, shall include in such Piggyback Registration (and in all
related registrations or qualifications under blue sky laws or in compliance with other registration requirements and in any related
underwriting) all Registrable Securities with respect to which Pubco has received written requests for inclusion therein within
10 business days after the delivery of Pubco’s notice; provided that any such other holder may withdraw its request for inclusion
at any time prior to executing the underwriting agreement or, if none, prior to the applicable registration statement becoming
effective.

 

(b)            Piggyback
Expenses. The Registration Expenses of the holders of Registrable Securities shall be paid by Pubco in all Piggyback Registrations,
whether or not any such registration became effective.

 

(c)            Priority
on Primary Registrations. If a Piggyback Registration is an underwritten primary registration on behalf of Pubco, and the managing
underwriters advise Pubco in writing that in their opinion the number of securities requested to be included in such registration
exceeds the number of securities which can be sold in such offering without adversely affecting the marketability, proposed offering
price, timing or method of distribution of the offering, Pubco shall include in such registration (i) first, the securities
Pubco proposes to sell, (ii) second, the Registrable Securities requested to be included in such registration by the Investors
which, in the opinion of such underwriters, can be sold, without any such adverse effect (pro rata among the holders of such Registrable
Securities on the basis of the number of Registrable Securities owned by each such holder), and (iii) third, other securities
requested to be included in such registration which, in the opinion of such underwriters, can be sold, without any such adverse
effect.

 

(d)            Priority
on Secondary Registrations. If a Piggyback Registration is an underwritten secondary registration on behalf of holders of Pubco’s
securities other than holders of Registrable Securities, and the managing underwriters advise Pubco in writing that in their opinion
the number of securities requested to be included in such registration exceeds the number of securities which can be sold in such
offering without adversely affecting the marketability, proposed offering price, timing or method of distribution of the offering,
Pubco shall include in such registration (i) first, the securities requested to be included therein by the holders initially
requesting such registration, (ii) second, the Registrable Securities requested to be included in such registration by the
Investors which, in the opinion of such underwriters, can be sold, without any such adverse effect (pro rata among the holders
of such Registrable Securities on the basis of the number of Registrable Securities owned by each such holder), and (iii) third,
other securities requested to be included in such registration which, in the opinion of such underwriters, can be sold, without
any such adverse effect.

 

    - 10 -

     

    

 

(e)          Other
Registrations. If Pubco has previously filed a Registration Statement with respect to Registrable Securities pursuant to Section 2
or pursuant to this Section 3, and if such previous registration has not been withdrawn or abandoned, then Pubco shall
not be required to file or cause to be effected any other registration of any of its equity securities or securities convertible
or exchangeable into or exercisable for its equity securities under the Securities Act (except on Form S-8 or any successor
form) at the request of any holder or holders of such securities until a period of at least 90 days has elapsed from the effective
date of such previous registration; provided, however, that Pubco shall at all times remain obligated to file or amend, as applicable,
(i) any OEP Resale Shelf Registration Statement in accordance with Section 1(b) and/or Section 1(c) in
the time periods specified therein and (ii) any Deerfield Resale Shelf Registration Statement in accordance with Section 1(c) and/or
Section 1(d) in the time periods specified therein.

 

(f)          Right
to Terminate Registration. Pubco shall have the right to terminate or withdraw any registration initiated by it under this
Section 3 whether or not any holder of Registrable Securities has elected to include securities in such registration.
The Registration Expenses of such withdrawn registration shall be borne by Pubco in accordance with Section 7.

 

4.            Agreements
of Holders.

 

(a)         If
required by the managing underwriter(s), in connection with any underwritten Public Offering on or after the date hereof, each
holder that beneficially owns 1% or more of the outstanding Common Stock shall enter into lock-up agreements with the managing
underwriter(s) of such underwritten Public Offering in such form as agreed to by such managing underwriter(s); provided, however,
that:

 

(i)           the
Deerfield Parties shall not be required to enter into lock-up agreements pursuant to this Section 4(a) on more than two
(2) occasions, including the lock-up agreements entered into on June 29, 2020,

 

(ii)          any
lock-up agreements to which the Deerfield Parties enter into pursuant to this Section 4(a) shall be for a period of not
more than sixty (60) days,

 

(iii)         the
obligation of the Deerfield Parties to enter into lock-up agreements pursuant to this Section 4(a) shall terminate on
November 8, 2021, and

 

    - 11 -

     

    

 

  (iv)         the
Deerfield Parties shall not be required to enter into a lock-up agreement pursuant to this Section 4(a) within six (6) months
following the expiration of a previous lock-up agreement entered into by the Deerfield Parties pursuant to this Section 4(a).

 

(b)            The
holders of Registrable Securities shall use reasonable best efforts to provide such information as may reasonably be requested
by Pubco, or the managing underwriter, if any, in connection with the preparation of any Registration Statement, including amendments
and supplements thereto, in order to effect the Registration Statement, including amendments and supplements thereto, in order
to effect the Registration of any Registrable Securities under the Securities Act pursuant to Section 3 and in connection
with Pubco’s obligation to comply with federal and applicable state securities laws.

 

5.            Registration
Procedures. In connection with the Registration to be effected pursuant to the Existing Resale Shelf Registration Statement,
OEP Resale Shelf Registration Statement or Deerfield Resale Shelf Registration Statement, and whenever the holders of Registrable
Securities have requested that any Registrable Securities be registered pursuant to this Agreement or have initiated a takedown
offering, Pubco shall use its reasonable best efforts to effect the registration and the sale of such Registrable Securities in
accordance with the intended method of disposition thereof, and pursuant thereto Pubco shall as expeditiously as reasonably possible:

 

(a)            prepare
in accordance with the Securities Act and all applicable rules and regulations promulgated thereunder and file with the Commission
a registration statement, and all amendments and supplements thereto and related prospectuses as may be necessary to comply with
applicable securities laws, with respect to such Registrable Securities and use its reasonable best efforts to cause such registration
statement to become effective (provided that at least five (5) Business Days before filing a registration statement or prospectus
or any amendments or supplements thereto, Pubco shall furnish to counsel selected by the Applicable Approving Party copies of all
such documents proposed to be filed, which documents shall be subject to the review and comment of such counsel);

 

(b)            notify
each holder of Registrable Securities of (A) the issuance by the Commission of any stop order suspending the effectiveness
of any registration statement or the initiation of any proceedings for that purpose, (B) the receipt by Pubco or its counsel
of any notification with respect to the suspension of the qualification of the Registrable Securities for sale in any jurisdiction
or the initiation or threatening of any proceeding for such purpose, and (C) the effectiveness of each registration statement
filed hereunder;

 

(c)            prepare
and file with the Commission such amendments and supplements to such registration statement and the prospectus used in connection
therewith as may be necessary to keep such registration statement effective for a period ending when all of the securities covered
by such registration statement have been disposed of in accordance with the intended methods of distribution by the sellers thereof
set forth in such registration statement (but not in any event before the expiration of any longer period required under the Securities
Act or, if such registration statement relates to an underwritten Public Offering, such longer period as in the opinion of counsel
for the underwriters a prospectus is required by law to be delivered in connection with sale of Registrable Securities by an underwriter
or dealer) and comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such
registration statement during such period in accordance with the intended methods of disposition by the sellers thereof set forth
in such registration statement;

 

    - 12 -

     

    

 

(d)            furnish
to each seller of Registrable Securities thereunder such number of copies of such registration statement, each amendment and supplement
thereto, the prospectus included in such registration statement (including each preliminary prospectus), each Free-Writing Prospectus
and such other documents as such seller may reasonably request in order to facilitate the disposition of the Registrable Securities
owned by such seller;

 

(e)            during
any period in which a prospectus is required to be delivered under the Securities Act, promptly file all documents required to
be filed with the Commission, including pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Securities Act;

 

(f)            use
its reasonable best efforts to register or qualify such Registrable Securities under such other securities or blue sky laws of
such jurisdictions as the lead underwriter or the Applicable Approving Party reasonably requests and do any and all other acts
and things which may be reasonably necessary or advisable to enable such seller to consummate the disposition in such jurisdictions
of the Registrable Securities owned by such seller (provided that Pubco shall not be required to (i) qualify generally to
do business in any jurisdiction where it would not otherwise be required to qualify but for this Section 5(f), (ii) consent
to general service of process in any such jurisdiction or (iii) subject itself to taxation in any such jurisdiction);

 

(g)            promptly
notify in writing each seller of such Registrable Securities (i) after it receives notice thereof, of the date and time when
such registration statement and each post-effective amendment thereto has become effective or a prospectus or supplement to any
prospectus relating to a registration statement has been filed and when any registration or qualification has become effective
under a state securities or blue sky law or any exemption thereunder has been obtained, (ii) after receipt thereof, of any
request by the Commission for the amendment or supplementing of such registration statement or prospectus or for additional information,
and (iii) at any time when a prospectus relating thereto is required to be delivered under the Securities Act, of the happening
of any event as a result of which the prospectus included in such registration statement contains an untrue statement of a material
fact or omits any fact necessary to make the statements therein not misleading, and, at the request of any such seller, Pubco promptly
shall prepare, file with the Commission and furnish to each such seller a reasonable number of copies of a supplement or amendment
to such prospectus so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not
contain an untrue statement of a material fact or omit to state any fact necessary to make the statements therein not misleading;

 

(h)            cause
all such Registrable Securities to be listed on each securities exchange on which similar securities issued by Pubco are then listed
and, if not so listed, to be listed on a securities exchange and, without limiting the generality of the foregoing, to arrange
for at least two market makers to register as such with respect to such Registrable Securities with FINRA;

 

(i)             provide
a transfer agent and registrar for all such Registrable Securities not later than the effective date of such registration statement;

 

    - 13 -

     

    

 

(j)             enter
into and perform such customary agreements (including underwriting agreements in customary form) and take all such other actions
as the Applicable Approving Party or the underwriters, if any, reasonably request in order to expedite or facilitate the disposition
of such Registrable Securities (including, without limitation, effecting a stock split or a combination of shares and preparing
for and participating in such number of “road shows”, investor presentations and marketing events as the underwriters
managing such offering may reasonably request);

 

(k)            make
available for inspection by any seller of Registrable Securities, any underwriter participating in any disposition pursuant to
such registration statement and any attorney, accountant or other agent retained by any such seller or underwriter, all financial
and other records, pertinent corporate and business documents and properties of Pubco as shall be necessary to enable them to exercise
their due diligence responsibility, and cause Pubco’s officers, managers, directors, employees, agents, representatives and
independent accountants to supply all information reasonably requested by any such seller, underwriter, attorney, accountant or
agent in connection with such registration statement;

 

(l)             take
all reasonable actions to ensure that any Free-Writing Prospectus utilized in connection with any Demand Registration (including
any Shelf Registration), takedown offering or Piggyback Registration hereunder complies in all material respects with the Securities
Act, is filed in accordance with the Securities Act to the extent required thereby, is retained in accordance with the Securities
Act to the extent required thereby and, when taken together with the related prospectus, shall not contain any untrue statement
of a material fact or omit to state a material fact necessary to make the statements therein, in light of the circumstances under
which they were made, not misleading;

 

(m)           otherwise
use its reasonable best efforts to comply with all applicable rules and regulations of the Commission;

 

(n)            permit
any holder of Registrable Securities who, in its good faith judgment (based on the advice of counsel), could reasonably be expected
to be deemed to be an underwriter or a controlling Person of Pubco to participate in the preparation of such registration or comparable
statement and to require the insertion therein of material furnished to Pubco in writing, which in the reasonable judgment of such
holder and its counsel should be included;

 

(o)            in
the event of the issuance of any stop order suspending the effectiveness of a registration statement, or of any order suspending
or preventing the use of any related prospectus or suspending the qualification of any Common Stock included in such registration
statement for sale in any jurisdiction, use its reasonable best efforts promptly to obtain the withdrawal of such order;

 

(p)            use
its reasonable best efforts to cause such Registrable Securities covered by such registration statement to be registered with or
approved by such other governmental agencies or authorities as may be necessary to enable the sellers thereof to consummate the
disposition of such Registrable Securities;

 

    - 14 -

     

    

 

(q)            cooperate
with the holders of Registrable Securities covered by the registration statement and the managing underwriter or agent, if any,
to facilitate the timely preparation and delivery of certificates (not bearing any restrictive legends) representing securities
to be sold under the registration statement and enable such securities to be in such denominations and registered in such names
as the managing underwriter, or agent, if any, or such holders may request;

 

(r)            cooperate
with each holder of Registrable Securities covered by the registration statement and each underwriter or agent participating in
the disposition of such Registrable Securities and their respective counsel in connection with any filings required to be made
with FINRA;

 

(s)            if
such registration includes an underwritten Public Offering, use its reasonable best efforts to obtain a cold comfort letter from
Pubco’s independent public accountants and addressed to the underwriters, in customary form and covering such matters of
the type customarily covered by cold comfort letters as the underwriters in such registration reasonably request;

 

(t)            provide
a legal opinion of Pubco’s outside counsel, dated the effective date of such registration statement (and, if such registration
includes an underwritten Public Offering, dated the date of the closing under the underwriting agreement), with respect to the
registration statement, each amendment and supplement thereto, the prospectus included therein (including the preliminary prospectus)
and such other documents relating thereto in customary form and covering such matters of the type customarily covered by legal
opinions of such nature, which opinion shall be addressed to the underwriters;

 

(u)            if
Pubco files an Automatic Shelf Registration Statement covering any Registrable Securities, use its reasonable best efforts to remain
a WKSI (and not become an ineligible issuer (as defined in Rule 405)) during the period during which such Automatic Shelf
Registration Statement is required to remain effective;

 

(v)            if
Pubco does not pay the filing fee covering the Registrable Securities at the time an Automatic Shelf Registration Statement is
filed, pay such fee at such time or times as the Registrable Securities are to be sold; and

 

(w)           subject
to the terms of Section 2(c) and Section 2(d), if an Automatic Shelf Registration Statement has been
outstanding for at least three (3) years, at the end of the third year, refile a new Automatic Shelf Registration Statement
covering the Registrable Securities, and, if at any time when Pubco is required to re-evaluate its WKSI status Pubco determines
that it is not a WKSI, use its reasonable best efforts to refile the registration statement on Form S-3 and keep such registration
statement effective (including by filing a new Resale Shelf Registration or Shelf Registration, if necessary) during the period
throughout which such registration statement is required to be kept effective.

 

6.           Termination
of Rights. Notwithstanding anything contained herein to the contrary, the right of any Investor to include Registrable Securities
in any Demand Registration or any Piggyback Registration shall terminate on such date that such Investor (together with its Affiliates)
beneficially owns less than 1% of the outstanding Common Stock on an as-converted basis and may sell all of the Registrable Securities
owned by such Investor pursuant to Rule 144 of the Securities Act without any restrictions as to volume or the manner of sale
or otherwise; provided, however, that with respect to any Investor whose rights have terminated pursuant to this Section 6,
if following such a termination, such Investor loses the ability to sell all of its Registrable Securities pursuant to Rule 144
of the Securities Act without any restrictions as to volume or the manner of sale or otherwise due to a change in interpretive
guidance by the Commission, then such Investor’s right to include Registrable Securities in any Demand Registration or any
Piggyback Registration shall be reinstated until such time as the Investor is once again able to sell all of its Registrable Securities
pursuant to Rule 144 of the Securities Act without any restrictions as to volume or the manner of sale or otherwise.

 

    - 15 -

     

    

 

7.            Registration
Expenses.

 

(a)            All
expenses incident to Pubco’s performance of or compliance with this Agreement, including, without limitation, all registration,
qualification and filing fees, listing fees, fees and expenses of compliance with securities or blue sky laws, stock exchange rules and
filings, printing expenses, messenger and delivery expenses, fees and disbursements of custodians, and fees and disbursements of
counsel for Pubco and all independent certified public accountants, underwriters (excluding underwriting discounts and commissions)
and other Persons retained by Pubco (all such expenses being herein called “Registration Expenses”), shall be
borne by Pubco as provided in this Agreement and, for the avoidance of doubt, Pubco also shall pay all of its internal expenses
(including, without limitation, all salaries and expenses of its officers and employees performing legal or accounting duties),
the expense of any annual audit or quarterly review, the expense of any liability insurance and the expenses and fees for listing
the securities to be registered on each securities exchange on which similar securities issued by Pubco are then listed. Each Person
that sells securities pursuant to a Demand Registration, a Takedown Demand or Piggyback Registration hereunder shall bear and pay
all underwriting discounts and commissions and transfer taxes applicable to the securities sold for such Person’s account.

 

(b)            Pubco
shall reimburse the holders of Registrable Securities included in such registration for the reasonable fees and disbursements of
one counsel chosen by the Applicable Approving Party and one local counsel (if necessary) for each applicable jurisdiction and
chosen by the applicable holder of Registrable Securities, in each case, for the purpose of rendering a legal opinion on behalf
of such holders in connection with any underwritten Demand Registration, takedown offering or Piggyback Registration.

 

8.            Additional
Payments Under Certain Circumstances.

 

(a)            Payments
(“Additional Payments”) with respect to the shares of Common Stock included in the Registrable Securities shall
be assessed as follows if the following event occurs (such event being herein called a “Registration Default”):
the Existing Resale Shelf Registration Statement ceases to be effective prior to the expiration of the Effectiveness Period (unless
and except to the extent that another Registration Statement covering the applicable Registrable Securities is effective during
the Effectiveness Period).

 

    - 16 -

     

    

 

(b)            Additional
Payments shall accrue on the applicable Registrable Securities for each such day from and including the date on which any such
Registration Default occurs to but excluding the date on which all such Registration Defaults have been cured at a rate of $0.05 per
share (subject to proportionate adjustment in the event of any stock split, reverse stock split or other recapitalization) per
month or portion thereof (on a 30/360 basis); provided, however, that the Company’s obligation to pay Additional Payments
extends only to any shares of Common Stock included in the Registrable Securities that are affected by the Registration Default;
and provided further that Additional Payments shall in no event accrue on account of any Registrable Securities during any period
that such Registrable Securities may not be sold pursuant to the terms of the Lock-Up Agreements or any other applicable lock-up
arrangements to which the applicable Investor is party; provided, however, that notwithstanding anything to the contrary herein,
no Additional Payments were accrued or are payable for any Registration Default in the 180 day period following November 8,
2019, and each Investor waives any entitlement thereto. Other than the obligation of payment of any Additional Payments in accordance
with the terms hereof, the Company will have no other liabilities for monetary damages with respect to its registration obligations.
With respect to each Investor, the Company’s obligations to pay Additional Payments remain in effect only so long as the
applicable shares of Common Stock held by the Investor are Registrable Securities. Notwithstanding anything to the contrary contained
herein, (i) in no event shall the aggregate of all Additional Payments payable by the Company hereunder on account of any
share of Common Stock exceed $0.50 per share (subject to proportionate adjustment in the event of any stock split, reverse stock
split or other recapitalization), (ii) no Additional Payments shall accrue during any Suspension Period, (iii) a Registration
Default shall be deemed not to have occurred and be continuing, and no Additional Payments shall accrue as a result thereof, if the
Registration Default (x) relates to any information supplied or failed to be supplied by an Investor in relation to any Registration
Statement or the related Prospectus or (y) arises due to the filing by Pubco of any post-effective amendment to the Existing
Resale Shelf Registration Statement in connection with Pubco’s obligation to comply with Section 1(b) or
Section 1(c) (but only until such post-effective amendment is declared effective by the Commission), (iv) no
Additional Payments shall accrue or be payable to any OEP Party or in respect of the Registrable Securities issued pursuant to
the OEP Investment Agreement and (v) no Additional Payments shall accrue or be payable to any Deerfield Party or in respect
of the Registrable Securities issued pursuant to the Deerfield Investment Agreement. No Additional Payments shall be payable (i) if
as of the relevant Registration Default, the Registrable Securities may be sold by the Investors without volume or manner of sale
restrictions under Rule 144, as determined by counsel to the Company pursuant to a written opinion letter to such effect,
addressed and reasonably acceptable to the Company’s transfer agent or (ii) with respect to any period after the expiration
of the Effectiveness Period (it being understood that this clause shall not relieve the Company of any Additional Payments accruing
prior to the expiration of the Effectiveness Period).

 

(c)            Any
amounts of Additional Payments pursuant to this Section 8 will be payable in cash in arrears on the last day of each
month following the date on which a Registration Default occurs. The amount of Additional Payments will be determined on the basis
of a 360-day year comprised of twelve 30-day months, and the actual number of days on which Additional Payments accrued during
such period.

 

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9.            Indemnification.

 

(a)            Pubco
agrees to (i) indemnify and hold harmless, to the fullest extent permitted by law, each Investor and their respective officers,
directors, members, partners, agents, affiliates and employees and each Person who controls such Investor (within the meaning of
the Securities Act or the Exchange Act) against all losses, claims, actions, damages, liabilities and expenses caused by (A) any
untrue or alleged untrue statement of material fact contained in any registration statement, prospectus or preliminary prospectus
or any amendment thereof or supplement thereto or any omission or alleged omission of a material fact required to be stated therein
or necessary to make the statements therein not misleading, or (B) any violation or alleged violation by Pubco of the Securities
Act or any other similar federal or state securities laws or any rule or regulation promulgated thereunder applicable to Pubco
and relating to action or inaction required of Pubco in connection with any such registration, qualification or compliance, and
(ii) pay to each Investor and their respective officers, directors, members, partners, agents, affiliates and employees and
each Person who controls such Investor (within the meaning of the Securities Act or the Exchange Act), as incurred, any legal and
any other expenses reasonably incurred in connection with investigating, preparing or defending any such claim, loss, damage, liability
or action, except insofar as the same are caused by or contained in any information furnished in writing to Pubco or any managing
underwriter by such Investor expressly for use therein; provided, however, that the indemnity agreement contained in this Section 9
shall not apply to amounts paid in settlement of any such claim, loss, damage, liability or action if such settlement is effected
without the consent of Pubco (which consent shall not be unreasonably withheld, conditioned or delayed), nor shall Pubco be liable
in any such case for any such claim, loss, damage, liability or action to the extent that it solely arises out of or is based upon
an untrue statement of any material fact contained in the registration statement or omission to state therein a material fact required
to be stated therein or necessary to make the statements therein not misleading, in each case to the extent that such untrue statement
or alleged untrue statement or omission or alleged omission was made in the registration statement, in reliance upon and in conformity
with written information furnished by such Investor expressly for use in connection with such registration statement. In connection
with an underwritten offering, Pubco shall indemnify any underwriters or deemed underwriters, their officers and directors and
each Person who controls such underwriters (within the meaning of the Securities Act or the Exchange Act) to the same extent as
provided above with respect to the indemnification of the holders of Registrable Securities.

 

(b)            In
connection with any registration statement in which a holder of Registrable Securities is participating, each such holder shall
furnish to Pubco in writing such information relating to such holder as Pubco reasonably requests for use in connection with any
such registration statement or prospectus and, to the extent permitted by law, shall indemnify Pubco, its officers, directors,
employees, agents and representatives and each Person who controls Pubco (within the meaning of the Securities Act) against any
losses, claims, damages, liabilities and expenses resulting from any untrue or alleged untrue statement of material fact contained
in the registration statement, prospectus or preliminary prospectus or any amendment thereof or supplement thereto or any omission
or alleged omission of a material fact required to be stated therein or necessary to make the statements therein not misleading,
but only to the extent that such untrue statement or omission is contained in any information so furnished in writing by such holder;
provided that the obligation to indemnify shall be individual, not joint and several, for each holder and shall be limited to the
net amount of proceeds actually received by such holder from the sale of Registrable Securities pursuant to such registration statement.

 

    - 18 -

     

    

 

(c)            Any
Person entitled to indemnification hereunder shall (i) give prompt written notice to the indemnifying party of any claim with
respect to which it seeks indemnification (provided that the failure to give prompt notice shall not impair any Person’s
right to indemnification hereunder to the extent such failure has not materially prejudiced the indemnifying party) and (ii) unless
in such indemnified party’s reasonable judgment a conflict of interest between such indemnified and indemnifying parties
may exist with respect to such claim, permit such indemnifying party to assume the defense of such claim with counsel reasonably
satisfactory to the indemnified party. If such defense is assumed, the indemnifying party shall not be subject to any liability
for any settlement made by the indemnified party without its consent (but such consent shall not be unreasonably withheld, conditioned
or delayed). An indemnifying party who is not entitled to, or elects not to, assume the defense of a claim shall not be obligated
to pay the fees and expenses of more than one counsel (as well as one local counsel for each applicable jurisdiction) for all parties
indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment of any indemnified party a
conflict of interest may exist between such indemnified party and any other of such indemnified parties with respect to such claim.
In such instance, the conflicted indemnified parties shall have a right to retain one separate counsel, chosen by the holders of
a majority of the Registrable Securities included in the registration, at the expense of the indemnifying party. No indemnifying
party, in the defense of such claim or litigation, shall, except with the consent of each indemnified party, consent to the entry
of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant
or plaintiff to such indemnified party of a release from all liability in respect to such claim or litigation.

 

(d)            Each
party hereto agrees that, if for any reason the indemnification provisions contemplated by Sections 9(a) or 9(b) are
unavailable to or insufficient to hold harmless an indemnified party in respect of any losses, claims, damages, liabilities or
expenses (or actions in respect thereof) referred to therein, then each indemnifying party, in lieu of indemnifying such indemnified
party, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages, liabilities
or expenses (or actions in respect thereof) in such proportion as is appropriate to reflect the relative fault of the indemnifying
party and the indemnified party in connection with the actions which resulted in such losses, claims, damages, liabilities or expenses,
as well as any other relevant equitable considerations. The relative fault of such indemnifying party and indemnified party shall
be determined by reference to, among other things, whether any action in question, including any untrue or alleged untrue statement
of a material fact or omission or alleged omission to state a material fact, relates to information supplied by such indemnifying
party or indemnified party, and the parties’ relative intent, knowledge, access to information and opportunity to correct
or prevent such statement or omission. The parties hereto agree that it would not be just or equitable if contribution pursuant
to this Section 9(d) were determined by pro rata allocation (even if the holders or any underwriters or all of
them were treated as one entity for such purpose) or by any other method of allocation which does not take account of the equitable
considerations referred to in this Section 9(d). The amount paid or payable by an indemnified party as a result of
the losses, claims, damages, liabilities or expenses (or actions in respect thereof) referred to above shall be deemed to include
any legal or other fees or expenses reasonably incurred by such indemnified party in connection with investigating or, except as
provided in Section 9(c), defending any such action or claim. No Person guilty of fraudulent misrepresentation (within
the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty
of such fraudulent misrepresentation. The sellers’ obligations in this Section 9(d) to contribute shall
be several in proportion to the amount of securities registered by them and not joint and shall be limited to an amount equal to
the net proceeds actually received by such seller from the sale of Registrable Securities effected pursuant to such registration.

 

    - 19 -

     

    

 

(e)            The
indemnification and contribution provided for under this Agreement shall remain in full force and effect regardless of any investigation
made by or on behalf of the indemnified party or any officer, director or controlling Person of such indemnified party and shall
survive the transfer of Registrable Securities and the termination or expiration of this Agreement.

 

10.         Participation
in Underwritten Registrations. No Person may participate in any registration hereunder which is underwritten unless such Person
(a) agrees to sell such Person’s securities on the basis provided in any underwriting arrangements approved by the Person
or Persons entitled hereunder to approve such arrangements (including, without limitation, pursuant to any over-allotment or “green
shoe” option requested by the underwriters; provided that no holder of Registrable Securities shall be required to sell more
than the number of Registrable Securities such holder has requested to include) and (b) completes and executes all questionnaires,
powers of attorney, custody agreements, stock powers, indemnities, underwriting agreements and other documents required under the
terms of such underwriting arrangements; provided that no holder of Registrable Securities included in any underwritten registration
shall be required to make any representations or warranties to Pubco or the underwriters (other than representations and warranties
regarding such holder, such holder’s title to the securities, such Person’s authority to sell such securities and such
holder’s intended method of distribution) or to undertake any indemnification obligations to Pubco or the underwriters with
respect thereto that are materially more burdensome than those provided in Section 9. Each holder of Registrable Securities
shall execute and deliver such other agreements as may be reasonably requested by Pubco and the lead managing underwriter(s) that
are consistent with such holder’s obligations under Section 4, Section 5 and this Section 10
or that are necessary to give further effect thereto. To the extent that any such agreement is entered into pursuant to, and consistent
with, Section 4 and this Section 10, the respective rights and obligations created under such agreement
shall supersede the respective rights and obligations of the holders, Pubco and the underwriters created pursuant to this Section 10.

 

11.          Other
Agreements. Pubco shall file all reports required to be filed by it under the Securities Act and the Exchange Act and the rules and
regulations adopted by the Commission thereunder and shall take such further action as the Investors may reasonably request, all
to the extent required to enable such Persons to sell securities pursuant to (a) Rule 144 adopted by the Commission under
the Securities Act (as such rule may be amended from time to time) or any similar rule or regulation hereafter adopted
by the Commission or (b) a registration statement on Form S-1 or any similar registration form hereafter adopted by the
Commission. Upon request, Pubco shall deliver to the Investors a written statement as to whether it has complied with such requirements.
Pubco shall at all times use its reasonable best efforts to cause the securities so registered to continue to be listed on one
or more of the New York Stock Exchange, the American Stock Exchange and the Nasdaq Stock Market. Pubco shall use its best efforts
to facilitate and expedite transfers of Registrable Securities pursuant to Rule 144, which efforts shall include timely notice
to its transfer agent to expedite such transfers of Registrable Securities.

 

    - 20 -

     

    

 

12.         Definitions.

 

(a)            “Affiliate”
means, with respect to any specified Person, any other Person that, at the time of determination, directly or indirectly through
one or more intermediaries, controls, is controlled by or is under common control with such specified Person.

 

(b)            “Applicable
Approving Party” means the holders of a majority of the Registrable Securities participating in the applicable offering
or, in the case of a Short-Form Registration effected pursuant to Section 2(c), the holders of a majority of the
type of Registrable Securities that initiated such Short-Form Registration.

 

(c)            “as-converted
basis” means, for purposes of computing beneficial ownership, such number of shares of Common Stock calculated on a basis
assuming all shares of Series A Preferred Stock, Series B-2 Preferred Stock or Series B-1 Preferred Stock, as applicable,
had been converted by the holders thereof in accordance with their terms, but disregarding any restrictions or limitations upon
the conversion of such Series A Preferred Stock, Series B-2 Preferred Stock or Series B-1 Preferred Stock, as applicable.

 

(d)            “Block
Trade” means any non-marketed underwritten takedown offering taking the form of a bought deal or block sale to a financial
institution.

 

(e)            “Business
Day” means any day that is not a Saturday or Sunday or a legal holiday in the state in which Pubco’s chief executive
office is located or in New York, NY.

 

(f)            “Closing”
means the closing of the sale of Series A Preferred Stock to OEP pursuant to Section 1.2 of the OEP Investment Agreement.

 

(g)            “Commission”
means the U.S. Securities and Exchange Commission.

 

(h)            “Common
Stock” means the Class A Common Stock of Pubco, par value $0.0001 per share.

 

(i)            “Common
Unit” has the meaning set forth in the LLC Agreement.

 

(j)            “Deerfield
Party” or “Deerfield Parties” means the Deerfield Investors, any Related Deerfield Fund that becomes
a party to this Agreement following the date hereof by execution of a joinder hereto or other written agreement between such Related
Deerfield Fund and the Company, and any of their respective Affiliates.

 

(k)            “Exchange
Act” means the Securities Exchange Act of 1934, as amended from time to time, or any successor federal law then in force,
together with all rules and regulations promulgated thereunder.

 

(l)            “FINRA”
means the Financial Industry Regulatory Authority.

 

    - 21 -

     

    

 

(m)            “Founder
Shares” means the 6,250,000 shares of Common Stock issued to the Original Holders prior to Pubco’s initial public
offering.

 

(n)            “Free-Writing
Prospectus” means a free-writing prospectus, as defined in Rule 405 of the Securities Act.

 

(o)            “LLC
Agreement” means the Fifth Amended and Restated Limited Liability Company Agreement of the Company, dated as of November 8,
2019, by and among the Company, Pubco and the other members of the Company (as the same may be amended, supplemented or modified
from time to time in accordance with the terms thereof).

 

(p)            “Lock-Up
Agreements” means those certain Lock-Up Agreements, dated as of July 8, 2019, by and among Pubco, the Company, and
certain of the Persons listed on the Schedule of Investors attached hereto.

 

(q)            “Merger
Agreement” means the Agreement and Plan of Merger, dated as of July 8, 2019, by and between Pubco, the Company and
certain other parties, as amended.

 

(r)            “Person”
means an individual, a partnership, a corporation, a limited liability company, an association, a joint stock company, a trust,
a joint venture, an unincorporated organization and a governmental entity or any department, agency or political subdivision thereof.

 

(s)            “PIPE
Shares” means the 12,500,000 shares of Common Stock issued to the one of the Investors pursuant to that certain Subscription
Agreement, dated as of July 8, 2019, by and between Pubco and such Investor.

 

(t)            “Prospectus”
means the prospectus included in any Registration Statement, as supplemented by any and all prospectus supplements and as amended
by any and all post-effective amendments and including all material incorporated by reference in such prospectus.

 

(u)            “Public
Offering” means any sale or distribution by Pubco and/or holders of Registrable Securities to the public of Common Stock
pursuant to an offering registered under the Securities Act.

 

(v)            “OEP
Party” or “OEP Parties” means OEP and each Affiliate of OEP to whom shares of Series A Preferred
Stock or shares of Common Stock are transferred pursuant to Section 5.3 of the OEP Investment Agreement.

 

(w)            “Original
Holders” shall mean each of Chris Wolfe, Steven Hochberg, Dr. Mohit Kaushal, Dr. Gregory Sorensen and Dr. Susan
Weaver.

 

(x)            “Register,”
 “Registered” and “Registration” mean a registration effected by preparing and filing a Registration
Statement or similar document in compliance with the requirements of the Securities Act, and the applicable rules and regulations
promulgated thereunder, and such Registration Statement becoming effective.

 

    - 22 -

     

    

 

(y)            “Registrable
Securities” means (i) any Common Stock issued with respect to or in exchange for any Common Units held by the Investors,
(ii) any Founder Shares held by the Investors (including any Common Stock issued or issuable in respect of any Series B-1
Preferred Stock issued to Deerfield Private Design Fund IV, L.P. (“Deerfield Private Design Fund IV”) in exchange for
such Common Stock pursuant to the Exchange Agreement, dated as of the date hereof, between the Company and Deerfield Private Design
Fund IV (the “Exchange Agreement”)), (iii) any Private Placement Warrants (or underlying securities) held
by the Investors, (iv) any PIPE Shares held by the Investors (including any Common Stock issued or issuable in respect of
any Series B-1 Preferred Stock issued to Deerfield Private Design Fund IV in exchange for such PIPE Shares pursuant to the
Exchange Agreement), (v) any Common Stock issued to an Investor pursuant to the terms of the Merger Agreement, (vi) any
Common Stock issued to OEP pursuant to the OEP Investment Agreement (whether or not such shares of Series A Preferred Stock
or Common Stock are subsequently transferred to any OEP Party) held by any OEP Party, (vii) any Common Stock issued or issuable
upon conversion of the Series A Preferred Stock issued to OEP pursuant to the OEP Investment Agreement (whether or not such
shares of Series A Preferred Stock or Common Stock are subsequently transferred to any OEP Party) held by any OEP Party, (viii) any
Common Stock issued or issuable, directly or indirectly, upon conversion of the Series B-2 Preferred Stock (or upon conversion
of the Series B-1 Preferred Stock into which the Series B-2 Preferred Stock is converted) to Deerfield Partners pursuant
to the Deerfield Investment Agreement (whether or not such shares of Series B-2 Preferred Stock, Series B-1 Preferred
Stock or Common Stock are subsequently transferred to any Deerfield Party) held by any Deerfield Party or (ix) any Common
Stock issued or issuable with respect to the securities referred to in the preceding clauses (i) through (viii) by way
of a stock dividend or stock split or in connection with a combination of shares, recapitalization, merger, consolidation or other
reorganization. For purposes of this definition, the shares of Common Stock issuable upon conversion or exercise of any security
shall be determined without regard to any limitation on the conversion or exercise thereof. As to any particular Registrable Securities,
such securities shall cease to be Registrable Securities when they have been sold or distributed to the public pursuant to an offering
registered under the Securities Act or sold to the public through a broker, dealer or market maker in compliance with Rule 144
following November 8, 2019 or repurchased by Pubco or any of its subsidiaries. For purposes of this Agreement, a Person shall
be deemed to be a holder of Registrable Securities, and the Registrable Securities shall be deemed to be in existence, whenever
such Person has the right to acquire directly or indirectly such Registrable Securities (upon conversion or exercise in connection
with a transfer of securities or otherwise, but disregarding any restrictions or limitations upon the conversion or exercise of
such right), whether or not such acquisition has actually been effected, and such Person shall be entitled to exercise the rights
of a holder of Registrable Securities hereunder; provided a holder of Registrable Securities may only request that Registrable
Securities in the form of Common Stock be registered pursuant to this Agreement.

 

(z)            “Registration
Statement” means any registration statement filed by Pubco with the Commission in compliance with the Securities Act
and the rules and regulations promulgated thereunder for a public offering and sale of Common Stock or Registrable Securities,
including the Prospectus included in such registration statement, amendments (including post-effective amendments) and supplements
to such registration statement, and all exhibits to and all material incorporated by reference in such registration statement (other
than a registration statement on Form S-4 or Form S-8, or their successors).

 

    - 23 -

     

    

 

(aa)          “Related
Deerfield Fund” means any investment fund or managed account that is managed on a discretionary basis by the same investment
manager as a Deerfield Party.

 

(bb)          “Rule 144”,
 “Rule 158”, “Rule 405”, “Rule 415” and “Rule 430B”
mean, in each case, such rule promulgated under the Securities Act (or any successor provision) by the Commission, as the
same shall be amended from time to time, or any successor rule then in force.

 

(cc)          “Securities
Act” means the Securities Act of 1933, as amended from time to time, or any successor federal law then in force, together
with all rules and regulations promulgated thereunder.

 

(dd)          “Shelf
Participant” means any holder of Registrable Securities listed as a potential selling stockholder in connection with
the Existing Resale Shelf Registration Statement, OEP Resale Shelf Registration Statement, Deerfield Resale Shelf Registration
Statement or the Shelf Registration, as applicable, or any such holder that could be added to such Existing Resale Shelf Registration
Statement, OEP Resale Shelf Registration Statement, Deerfield Resale Shelf Registration Statement or Shelf Registration without
the need for a post-effective amendment thereto or added by means of an automatic post-effective amendment thereto.

 

(ee)          “WKSI”
means a “well-known seasoned issuer” as defined under Rule 405.

 

13.         Miscellaneous.

 

(a)            No
Inconsistent Agreements. Neither the Company nor Pubco shall not hereafter enter into any agreement with respect to its securities
which is inconsistent with or violates or in any way impairs the rights granted to the Investors in this Agreement.

 

(b)            Entire
Agreement; Effectiveness. This Agreement constitutes the entire agreement of the parties hereto with respect to the subject
matter hereof and supersedes all prior agreements, understandings, negotiations and discussions among the parties hereto, written
or oral, with respect to the subject matter hereof, including without limitation, but subject to the remainder of this Section 13(b),
the Prior Agreement. This Agreement shall be automatically effective as of the Closing (as defined in the OEP Investment Agreement),
without further action by any party hereto. Prior to the Closing, the Prior Agreement shall remain in effect. If the Investment
Agreement is terminated for any reason, then this amendment shall be void and of no force and effect.

 

(c)            Remedies.
Any Person having rights under any provision of this Agreement shall be entitled to enforce such rights specifically (without posting
a bond or other security), to recover damages caused by reason of any breach of any provision of this Agreement and to exercise
all other rights granted by law. The parties hereto agree and acknowledge that money damages would not be an adequate remedy for
any breach of the provisions of this Agreement and that, in addition to any other rights and remedies existing in its favor, any
party shall be entitled to specific performance and/or other injunctive relief from any court of law or equity of competent jurisdiction
(without posting any bond or other security) in order to enforce or prevent violation of the provisions of this Agreement.

 

    - 24 -

     

    

 

(d)            Amendments
and Waivers. Except as otherwise provided herein, the provisions of this Agreement may be amended or waived only with the prior
written consent of Pubco and the holders of a majority of the Registrable Securities then outstanding; provided, that no
amendment may materially and disproportionately adversely affect the rights of any holder of Registrable Securities compared to
other holders of Registrable Securities without the consent of such adversely affected holder; and provided further, that
the definition of “Effectiveness Period”, “Deerfield Investors”, “Deerfield Parties”,
 “Registrable Securities”, “Related Deerfield Fund”, Section 1(d), Section 1(e), Section 4(a) (Agreements
of Holders), Section 8 (Additional Payments Under Certain Circumstances), any other provision of this Agreement that
expressly relates to any Deerfield Investor, any Deerfield Party, any Deerfield Related Fund, the Deerfield Shelf Registration
Statement or the Series B-1 Preferred Stock and this Section 13(d) may not be amended in a manner adverse to any
Deerfield Party without the prior written consent of the Deerfield Parties. Any amendment or waiver effected in accordance with
this Section 13(d) shall be binding upon each Investor, Pubco and the Company. The failure of any party to enforce
any of the provisions of this Agreement shall in no way be construed as a waiver of such provisions and shall not affect the right
of such party thereafter to enforce each and every provision of this Agreement in accordance with its terms.

 

(e)            Successors
and Assigns. All covenants and agreements in this Agreement by or on behalf of any of the parties hereto shall bind and inure
to the benefit of the respective successors and assigns of the parties hereto whether so expressed or not. In addition, whether
or not any express assignment has been made, the provisions of this Agreement which are for the benefit of purchasers or holders
of Registrable Securities are also for the benefit of, and enforceable by, any subsequent holder of Registrable Securities.

 

(f)            Severability.
Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement is held to be prohibited by or invalid, illegal or unenforceable in any respect under
any applicable law, such provision shall be ineffective only to the extent of such prohibition, invalidity, illegality or unenforceability,
without invalidating the remainder of this Agreement.

 

(g)            Counterparts.
This Agreement may be executed simultaneously in counterparts (including by means of telecopied, facsimile or portable data format
(PDF) signature pages), any one of which need not contain the signatures of more than one party, but all such counterparts taken
together shall constitute one and the same Agreement.

 

(h)            Descriptive
Headings; Interpretation. The descriptive headings of this Agreement are inserted for convenience only and do not constitute
a part of this Agreement. The use of the word “including” herein shall mean “including without limitation.”

 

(i)             Governing
Law; Jurisdiction. All issues and questions concerning the construction, validity, enforcement and interpretation of this Agreement
and the exhibits and schedules hereto shall be governed by, and construed in accordance with, the laws of the State of Delaware,
without giving effect to any choice of law or conflict of law rules or provisions (whether of the State of Delaware or any
other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Delaware. The parties
hereto agree that any suit, action or proceeding seeking to enforce any provision of, or based on any matter arising out of or
in connection with, this Agreement or the transactions contemplated hereby shall be brought in any Delaware Chancery Court, or
if such court does not have subject matter jurisdiction, any court of the United States located in the State of Delaware. Each
of the parties hereby irrevocably consents to the jurisdiction of such courts (and of the appropriate appellate courts therefrom)
in any such suit, action or proceeding and irrevocably waives, to the fullest extent permitted by law, any objection that it may
now or hereafter have to the laying of the venue of any such suit, action or proceeding in any such court or that any such suit,
action or proceeding brought in any such court has been brought in an inconvenient forum. Process in any such suit, action or proceeding
may be served on any party anywhere in the world, whether within or without the jurisdiction of any such court.

 

    - 25 -

     

    

 

(j)            Notices.
All notices, demands or other communications to be given or delivered under or by reason of the provisions of this Agreement shall
be in writing and shall be given (and shall be deemed to have been duly given upon receipt) by delivery in person, by or email
or by registered or certified mail (postage prepaid, return receipt requested) to each Investor at the address indicated on the
Schedule of Investors attached hereto and to Pubco and the Company at the addresses indicated below (or at such other address for
a party as shall be specified in a notice given in accordance with this Section 13(j)):

 

	if to Pubco:
	 
	 	AdaptHealth Corp. 
	 	220 West Germantown Pike Suite 250 
	 	Plymouth Meeting, PA 19462 
	 	Attention: General Counsel 
	 	E-mail: cjoyce@adapthealth.com
	 
	with a copy to:
	 
	 	Willkie Farr & Gallagher LLP 
	 	787 Seventh Avenue 
	 	New York, New York 10019 
	 	Attention: Steven J. Gartner; Michael E. Brandt; and Danielle Scalzo 
	 	Facsimile: (212) 728-8111 
	 	Email:      sgartner@willkie.com; mbrandt@willkie.com; and 
	 	DScalzo@willkie.com
	 
	if to the Company:
	 
	 	AdaptHealth Holdings, LLC
	 	122 Mill Road, Suite A130 
	 	Phoenixville, Pennsylvania 19460 
	 	Attention: Luke McGee 
	 	Email: luke.mcgee@adapthealth.com

 

    - 26 -

     

    

 

	with a copy to:
	 
	 	Willkie Farr & Gallagher LLP 
	 	787 Seventh Avenue
	 	New York, New York 10019
	 	Attention: Steven J. Gartner; Michael E. Brandt; and Danielle Scalzo 
	 	Facsimile: (212) 728-8111
	 	Email:      sgartner@willkie.com; mbrandt@willkie.com; and
	 	DScalzo@willkie.com

 

(k)          Mutual
Waiver of Jury Trial. As a specifically bargained inducement for each of the parties to enter into this Agreement (with each
party having had opportunity to consult counsel), each party hereto expressly and irrevocably waives the right to trial by jury
in any lawsuit or legal proceeding relating to or arising in any way from this Agreement or the transactions contemplated herein,
and any lawsuit or legal proceeding relating to or arising in any way to this Agreement or the transactions contemplated herein
shall be tried in a court of competent jurisdiction by a judge sitting without a jury.

 

(l)           No
Strict Construction. The parties hereto have participated jointly in the negotiation and drafting of this Agreement. In the
event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the
parties hereto, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship
of any of the provisions of this Agreement.

 

* * * * *

 

    - 27 -

     

    

 

IN WITNESS WHEREOF, the
parties hereto have executed this Registration Rights Agreement as of the date first written above.

 

	 	COMPANY:
	 	 
	 	ADAPTHEALTH HOLDINGS LLC
	 	 
	 	 
	 	By:	/s/
    Luke McGee
	 	Name: 	Luke McGee
	 	Title:	Authorized Signatory

 

[Signature Page to Registration Rights Agreement]

 

     

     

    

 

IN WITNESS WHEREOF, the
parties hereto have executed this Registration Rights Agreement as of the date first written above.

 

	 	PUBCO:
	 	 
	 	ADAPTHEALTH CORP.
	 	 
	 	 
	 	By:	/s/ Luke McGee
	 	Name:	Luke McGee
	 	Title:	Chief Executive Officer

 

[Signature
Page to Registration Rights Agreement]

 

     

     

    

 

IN WITNESS WHEREOF, the
parties hereto have executed this Registration Rights Agreement as of the date first written above.

 

	 	INVESTORS:
	 	 
	 	DEERFIELD PRIVATE DESIGN FUND
    IV, L.P.
	 	By: Deerfield Mgmt IV, L.P.,
    General Partner
	 	By: J.E. Flynn Capital IV,
    LLC, General Partner
	 	 
	 	 
	 	By:	/s/
    David J. Clark
	 	Name:	David J. Clark
	 	Title:	Authorized Signatory
	 	 
	 	DEERFIELD PARTNERS, L.P.
	 	By: Deerfield Mgmt, L.P., General
    Partner
	 	By: J.E. Flynn Capital, LLC,
    General Partner
	 	 
	 	 
	 	By:	/s/ David
    J. Clark
	 	Name:	David J. Clark
	 	Title:	Authorized Signatory
	 	 
	 	OEP AHCO INVESTMENT HOLDINGS,
    LLC
	 	 
	 	 
	 	By:	/s/ Brad
    Coppens
	 	Name:	Brad Coppens
	 	Title:	Authorized Officer
	 	 
	 	BMSB L.P.
	 	 
	 	 
	 	By:	/s/ Richard
    Horne
	 	Name:	Richard Horne
	 	Title:	Deputy General Counsel, Tax
	 	 
	 	BLUEMOUNTAIN FOINAVEN MASTER
    FUND L.P.
	 	 
	 	 
	 	By:	/s/ Richard
    Horne
	 	Name:	Richard Horne
	 	Title:	Deputy General Counsel, Tax

 

     

     

    

 

	 	BLUEMOUNTAIN SUMMIT OPPORTUNITIES
    FUND II (US) L.P.
	 	 
	 	 
	 	By:	/s/
    Richard Horne
	 	Name:	Richard Horne
	 	Title:	Deputy General Counsel, Tax
	 	 
	 	BLUEMOUNTAIN FURSAN FUND L.P.
	 	 
	 	 
	 	By:	/s/ Richard
    Horne
	 	Name:	Richard Horne
	 	Title:	Deputy General Counsel, Tax
	 	 
	 	CLIFTON BAY OFFSHORE INVESTMENTS
    L.P.
	 	 
	 	 
	 	By:	Clifton Bay Management Ltd.
	 	 	Its General Partner
	 	By:	/s/ Susan
    V. Demers
	 	Name:	Susan V. Demers
	 	Title:	For Vicali Services (BVI) Inc. –
    Director
	 	 
	 	QUADRANT MANAGEMENT
	 	 
	 	 
	 	By:	/s/ Marco
    Vega
	 	Name:	Marco Vega
	 	Title:	COO
	 	 	 
	 	RICHARD BARASCH
	 	 
	 	By:	/s/ Richard
    Barasch
	 	 
	 	2014 BARASCH FAMILY TRUST
	 	 
	 	 
	 	By:	/s/ Richard
    Barasch
	 	Name:	Richard Barasch
	 	Title:	Beneficiary

 

     

     

    

 

	 	BLUE RIVER NJ LLC
	 	By: Still Water Nevada Trust
	 	 
	 	 
	 	By:	/s/
    Luke McGee
	 	Name:	Luke McGee
	 	Title:	Authorized Signatory
	 	 	 
	 	QUAD CAPITAL, LLC
	 	By: Still Water Nevada Trust
	 	 
	 	 
	 	By:	/s/ Luke
    McGee
	 	Name:	Luke McGee
	 	Title:	Authorized Signatory
	 	 	 
	 	JOSHUA PARNES
	 	 
	 	By:	/s/ Joshua
    Parnes
	 	 
	 	LUKE MCGEE
	 	 
	 	By:	/s/ Luke
    McGee
	 	 
	 	2321 CAPITAL LLC
	 	 
	 	 
	 	By:	/s/ Luke
    McGee
	 	Name:	Luke McGee
	 	Title:	Authorized Signatory
	 	 
	 	FRESH POND INVESTMENT LLC
	 	 
	 	 
	 	By:	/s/ Luke
    McGee
	 	Name:	Luke McGee
	 	Title:	Authorized Signatory
	 	 
	 	LBM DME HOLDINGS LLC
	 	 
	 	 
	 	By:	/s/ Luke
    McGee
	 	Name:	Luke McGee
	 	Title:	Authorized Signatory

 

     

     

    

 

	 	WHEATFIELD LLC
	 	 
	 	 
	 	By:	/s/
    Gregg Holst
	 	Name:	Gregg Holst
	 	Title:	Authorized Signatory
	 	 
	 	MAYAID2001 LLC
	 	 
	 	 
	 	By:	/s/ Christopher
    Joyce
	 	Name:	Christopher Joyce
	 	Title:	Authorized Signatory
	 	 
	 	VERUS EQUITY HOLDING COMPANY, LLC
	 	 
	 	 
	 	By:	/s/ Robert
    Emmet Seibels III
	 	Name:	Robert Emmet Seibels III
	 	Title:	President
	 	 
	 	VERUS NOTE HOLDING COMPANY, LLC
	 	 
	 	 
	 	By:	/s/ Robert
    Emmet Seibels III
	 	Name:	Robert Emmet Seibels III
	 	Title:	President

 

     

     

    

 

REGISTRATION RIGHTS AGREEMENT JOINDER

 

The undersigned is executing
and delivering this Joinder pursuant to the Amended and Restated Registration Rights Agreement dated as of July 1, 2020 (as
the same may hereafter be amended, the “Registration Rights Agreement”), among AdaptHealth Holdings Corporation, a
Delaware corporation, AdaptHealth Holdings LLC, a Delaware limited liability company (the “Company”), and the
other persons named as parties therein.

 

By executing and delivering
this Joinder to Pubco, the undersigned hereby agrees to become a party to, to be bound by, and to comply with the provisions of
the Registration Rights Agreement as a holder of Registrable Securities in the same manner as if the undersigned were an original
signatory to the Registration Rights Agreement.

 

Accordingly, the undersigned
has executed and delivered this Joinder as of the ___ day of _____________, 20__.

 

	 	INVESTOR:
	 	 
	 	[•]
	 	 
	 	By:	 
	 	Its:	 
	 	 
	 	Address for Notices:
	 	 
	 	[•]
	 	[•]
	 	[•]
	 	[•]
	 	 
	 	Agreed and Accepted as of
	 	 
	 	 
	 	ADAPTHEALTH HOLDINGS LLC
	 	 
	 	By:	              
	 	Its:Exhibit 10.1

 

Execution Version

 

Incremental
term loan amendment to the 

third
amended and restated CREDIT AND GUARANTY AGREEMENT

 

THIS INCREMENTAL TERM
LOAN AMENDMENT TO THE THIRD AMENDED AND RESTATED CREDIT AND GUARANTY AGREEMENT (this “Amendment”), dated as
of July 1, 2020 (the “Effective Date”), is made by and among CIT FINANCE LLC (“Administrative
Agent”), each of the Incremental Lenders (as defined below), ADAPTHEALTH LLC, a Delaware limited liability company
(“Borrower”), and each of the entities set forth on the signature pages hereto as “Guarantors”
(the “Guarantors”).

 

BACKGROUND STATEMENT

 

A.           Borrower,
Guarantors, Administrative Agent and Lenders are parties to that certain Third Amended and Restated Credit and Guaranty Agreement,
dated as of March 20, 2019 (as amended, restated, modified or supplemented, the “Credit Agreement”), pursuant
to which Borrower and Guarantors established certain financing arrangements with Lenders upon the terms and conditions set forth
therein. Capitalized terms used herein without definition shall have the meanings given to them in the Credit Agreement.

 

B.           Pursuant
to the terms of that certain Stock Purchase Agreement and Agreement and Plan of Merger (together with the exhibits and disclosure
schedules thereto, and as amended, restated, modified or supplemented, the “Acquisition Agreement”), dated
as of May 25, 2020, by and among, inter alios, the Borrower, LCP Solara Blocker Seller, LLC, a Delaware limited liability
company, and Solara Holdings, LLC, a Delaware limited liability company (the “Target”), the Borrower intends
to acquire (the “Acquisition”), directly or indirectly, the Capital Stock of the Target and its Subsidiaries

 

C.           In
connection with the foregoing, Borrower has notified Administrative Agent that pursuant to Section 2.15 of the Credit Agreement
certain Lenders (including New Lenders (defined below)) identified on the signature pages hereto (collectively, the “Incremental
Lenders”) have agreed to provide an Incremental Term Loan in the amount of $216,275,000 to Borrower (the “First
Incremental Term Loans”) on the terms and subject to the conditions set forth herein.

 

D.           In
connection with the foregoing, the Sponsor, together with its controlled affiliates and together with other investors, which may
include direct or indirect existing equity holders of Borrower and/or the Target will make or shall have made cash or rollover
equity contributions directly or indirectly to Holdings, which will then be contributed to Borrower (the “Equity Contribution”).

 

E.            Borrower
shall use the proceeds of the First Incremental Term Loans, together with the proceeds of the Equity Contribution, to (i) effect
the Acquisition and (ii) pay fees, costs and expenses incurred in connection with the transactions described above (collectively,
the “Transactions”).

 

F.            In
connection with the First Incremental Term Loans, Administrative Agent, Incremental Lenders and the Loan Parties wish to
amend certain provisions of the Credit Agreement as set forth herein, which shall become effective in accordance with the terms
and conditions set forth below.

 

G.           Regions
Bank, Citizens Bank, N.A., Deutsche Bank Securities Inc., and Royal Bank of Canada are acting as co-syndication agents for the
First Incremental Term Loans.

 

     

     

    

 

H.           Regions
Capital Markets, a division of Regions Bank, Citizens Bank, N.A., Deutsche Bank Securities Inc., and RBC Capital Markets, LLC
are acting as joint lead arrangers (collectively, the “Lead Arrangers”) and joint bookrunners for the First
Incremental Term Loans.

 

I.             Accordingly,
in consideration of the mutual agreements contained herein and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties hereto agree as follows:

 

STATEMENT OF AGREEMENT

 

The parties hereto, in consideration of
the mutual covenants and agreements set forth herein (the receipt and sufficiency of which is hereby acknowledged), agree as follows:

 

1.            Recitals.
This Amendment shall constitute a Loan Document and the Recitals set forth above shall be construed as part of this Amendment
as if set forth fully in the body of this Amendment.

 

2.            First
Incremental Term Loans.

 

(a)          Subject
to the terms and conditions set forth herein, each Incremental Lender agrees, severally and not jointly, to make the First Incremental
Term Loans to Borrower in a single advance on the Effective Date in the amount set forth opposite such Incremental Lender’s
name on Schedule A hereto. Amounts borrowed under this Section 2(a) and repaid or prepaid may not be reborrowed.

 

(b)          This
Amendment constitutes an Incremental Facility Amendment pursuant to and in accordance with the terms of Section 2.15 of the
Credit Agreement.

 

(c)          Unless
the context shall otherwise require, each Incremental Lender shall constitute an “Additional Lender”, “Lead
Arranger”, and “Lender” under the Credit Agreement, and its First Incremental Term Loans shall constitute “Incremental
Term Loans”, “Term Loans” and “Loans”, in each case, for all purposes of the Credit Agreement and
the other Loan Documents.

 

(d)          Borrower
shall use the proceeds of the First Incremental Term Loans, together with the proceeds of the Equity Contribution, to consummate
the Transactions.

 

(e)          From
and after the Effective Date, each Incremental Lender that is not a party to the Credit Agreement immediately prior to giving
effect to this Amendment (each, a “New Lender”) shall be deemed to be a party to the Credit Agreement and a
 “Lender” for all purposes of the Credit Agreement and the other Loan Documents, and shall have all of the rights and
obligations of a Lender under the Credit Agreement and the other Loan Documents as if such Person had executed the Credit Agreement.
Administrative Agent hereby consents to each New Lender becoming a “Lender” as required pursuant to Section 2.15(d) of
the Credit Agreement.

 

3.            Classification
of the First Incremental Term Loans; Certain Terms. Subject to clauses (a) and (b) of this Section 3, the
parties hereto agree that the First Incremental Term Loans shall be subject to the voluntary prepayment terms, mandatory prepayment
terms and other terms applicable to the Term Loans as set forth in the Credit Agreement. Voluntary prepayments and mandatory prepayments
made with respect to the Term Loans shall be applied pro rata to the First Incremental Term Loans.

 

    2

     

    

 

(a)          Applicable
Margin. The Applicable Margin for the First Incremental Term Loans shall be as follows; provided, as of the Effective
Date, Pricing Level 2 shall be in effect through the first (1st) Business Day immediately following the date
a Compliance Certificate is required to be delivered to Administrative Agent pursuant to Section 6.02(b) for the Fiscal
Quarter ending September 30, 2020 (including financial statements to be delivered in connection therewith pursuant to Section 6.01(b) of
the Credit Agreement):

 

	Pricing

    Level	 	Consolidated 
Total
    Leverage Ratio	 	LIBOR 

    Loans	 	 	Base Rate Loans	 
	1	 	> 3.00 to 1.00	 	 	3.75	%	 	   	2.75	%
	2	 	>2.50 to 1.00 but <
    3.00 to 1.00	 	 	3.50	%	 	 	2.50	%
	3	 	>2.00 to 1.00 but <
    2.50 to 1.00	 	 	3.25	%	 	 	2.25	%
	4	 	>1.75 to 1.00 but <
    2.00 to 1.00	 	 	3.00	%	 	 	2.00	%
	5	 	< 1.75 to 1.00	 	 	2.75	%	 	 	1.75	%

 

(b)          Scheduled
Amortization. Borrower shall pay the principal amount of the First Incremental Term Loans in consecutive quarterly installments
in the following aggregate amounts: (i) $1,351,718.75 commencing on Fiscal Quarter ending September 30, 2020, and each
Fiscal Quarter thereafter through Fiscal Quarter ending June 30, 2021, and (ii) $2,703,437.50 commencing on Fiscal Quarter
ending September 30, 2021, and each Fiscal Quarter thereafter through Fiscal Quarter ending December 31, 2023. The remaining
unpaid principal amount of First Incremental Term Loans then outstanding shall be due and payable on the Term Loan Maturity Date.

 

    3

     

    

 

4.            Amendments
to Credit Agreement.

 

(a)          Amendment
to Applicable Margin Definition. The pricing grid in the Applicable Margin definition is hereby amended and restated in its
entirety as follows; provided, as of the Effective Date, Pricing Level 2 shall be in effect through the first (1st)
Business Day immediately following the date a Compliance Certificate is required to be delivered to Administrative Agent pursuant
to Section 6.02(b) for the Fiscal Quarter ending September 30, 2020 (including financial statements to be delivered
in connection therewith pursuant to Section 6.01(b) of the Credit Agreement):

 

	 	 	Consolidated	 	 	 	 	Initial

    Term Loan	 	 	Revolving
    Loans	 	 	 	 	 	Delayed
    – Draw 

Term Loan	 
	Pricing
 Level	 	Total
 Leverage
 Ratio	 	Letters

    of
 Credit	 	 	LIBOR

    Loans	 	 	Base

    Rate
 Loans	 	 	LIBOR

    Loans	 	 	Base

    Rate
 Loans	 	 	Swingline

    Loans	 	 	LIBOR

    Loans	 	 	Base

    Rate
 Loans	 
	1	 	>
    3.00 to 1.00	 	 	3.25	%	 	 	3.25	%	 	 	2.25	%	 	 	3.25	%	 	 	2.25	%	 	 	2.25	%	 	 	3.25	%	 	 	2.25	%
	2	 	>2.50
    to 1.00 but < 3.00 to 1.00	 	 	3.00	%	 	 	3.00	%	 	 	2.00	%	 	 	3.00	%	 	 	2.00	%	 	 	2.00	%	 	 	3.00	%	 	 	2.00	%
	3	 	>2.00
    to 1.00 but < 2.50 to 1.00	 	 	2.75	%	 	 	2.75	%	 	 	1.75	%	 	 	2.75	%	 	 	1.75	%	 	 	1.75	%	 	 	2.75	%	 	 	1.75	%
	4	 	>1.75
    to 1.00 but < to 2.00 to 1.00	 	 	2.50	%	 	 	2.50	%	 	 	1.50	%	 	 	2.50	%	 	 	1.50	%	 	 	1.50	%	 	 	2.50	%	 	 	1.50	%
	5	 	<
    to 1.75 to 1.00	 	 	2.25	%	 	 	2.25	%	 	 	1.25	%	 	 	2.25	%	 	 	1.25	%	 	 	1.25	%	 	 	2.25	%	 	 	1.25	%

 

5.            Representations
and Warranties; Covenants. Each Loan Party hereby represents and warrants as follows:

 

(a)          Bringdown.
After giving effect to this Amendment, each of the representations and warranties of the Loan Parties contained in the Credit
Agreement and in the other Loan Documents is true and correct in all material respects (provided, that if any representation
or warranty is by it terms qualified by concepts of materiality, such representation or warranty shall be true and correct in
all respects) on and as of the date hereof with the same effect as if made on and as of the date hereof (except to the extent
any such representation or warranty is expressly stated to have been made as of a specific date, in which case such representation
or warranty is true and correct as of such date).

 

(b)          No
Default. Immediately prior to and after giving effect to this Amendment, no Default or Event of Default has occurred and is
continuing under the Credit Agreement or any of the other Loan Documents, or would result therefrom, each Loan Party is in compliance
with all terms and provisions set forth in the Credit Agreement and the other Loan Documents, and each of the conditions set forth
in Section 6 of this Amendment has been satisfied.

 

(c)          Enforceability;
Non-Contravention. The execution and delivery by each Loan Party of this Amendment and the performance by it of the transactions
herein contemplated (i) are and will be within its powers; (ii) have been authorized by all necessary action; (iii) are
not and will not be in contravention of any Loan Party’s Organization Documents; (iv) are not and will not conflict
with or result in any breach or contravention of, or the creation of any Lien under, (A) any Contractual Obligation under
any Material Contract to which any Loan Party is a party or (B) any order, injunction, writ or decree of any Governmental
Authority or any arbitral award to which any Loan Party or the Property of any Loan Party is subject; (v) will not violate
any Law; or (vi) will not result in a limitation on any material licenses, permits or other Governmental Approvals applicable
to the business, operations or properties of any Loan Party. This Amendment and all allonges, assignments, instruments, documents,
and agreements executed and delivered in connection herewith, are and will be valid, binding, and enforceable against Borrower
and each other Loan Party in accordance with their respective terms, except as such enforceability may be limited (x) by
general principles of equity and conflicts of laws or (y) by bankruptcy, reorganization, insolvency, moratorium or other
laws of general application relating to or affecting the enforcement, of Administrative Agent’s rights.

 

    4

     

    

 

(d)          No
Conflicts. No consent, approval, authorization or order of, or filing, registration or qualification with, any court or Governmental
Authority or third party is required in connection with the execution, delivery or performance by the Loan Parties of this Amendment.

 

(e)          No
Material Adverse Effect. No Material Adverse Effect has occurred and is continuing, and the Loan Parties know of no event,
condition or state of facts since the date of the Credit Agreement that could reasonably be expected to have a Material Adverse
Effect.

 

(f)           Obligations.
The execution and delivery of this Amendment does not diminish or reduce the Loan Parties’ obligations under the Loan Documents,
except as expressly modified by this Amendment.

 

(g)          No
Claims. The Loan Parties have no claims, counterclaims, offsets or defenses to the Loan Documents and the performance of their
obligations thereunder, or if a Loan Party has any such claims, counterclaims, offsets, or defenses arising from events occurring
on or before the date hereof, whether known or unknown, to the Loan Documents or any transaction related to the Loan Documents,
the same are hereby waived, relinquished and released in consideration of Administrative Agent’s execution and delivery
of this Amendment.

 

6.            Effectiveness
Conditions. This Amendment shall be effective upon completion of the following conditions precedent (all documents to
be in form and substance satisfactory to Administrative Agent and the Lead Arrangers, and their respective counsel):

 

(a)          executed
counterparts of this Amendment each properly executed by a Responsible Officer of the signing Loan Party and each other Person
party thereto;

 

(b)          receipt
by Administrative Agent of a Request for Credit Extension;

 

(c)          all
representations and warranties of the Loan Parties contained herein shall be true, correct and complete in all material respects
(provided, that if any representation or warranty is by its terms qualified by concepts of materiality, such representation
shall be true and correct in all respects) as of the Effective Date, except to the extent that any such representation or warranty
relates to a specific date in which case such representation or warranty shall be true and correct as of such earlier date (and
each Loan Party’s delivery of its respective signature hereto shall be deemed to be its certification thereof);

 

(d)          no
Default or Event of Default under the Credit Agreement or any of the other Loan Documents has occurred and is continuing immediately
prior to or after funding the First Incremental Term Loans;

 

    5

     

    

 

(e)          the
Acquisition Agreement shall be in full force and effect, and substantially concurrently with the funding of the First Incremental
Term Loans on the Effective Date, the Transactions shall have been consummated in all material respects in accordance with the
terms of the Acquisition Agreement without giving effect to any amendments, consents or waivers by you thereto that are materially
adverse to the Incremental Lenders or the Lead Arrangers, without the prior consent of the Lead Arrangers (such consent not to
be unreasonably withheld, delayed or conditioned) (it being understood that (i) any increase in the purchase price of, or
consideration for, the Acquisition is not materially adverse to the interests of the Incremental Lenders or the Lead Arrangers
so long as such increase is not financed with the proceeds of indebtedness of the Borrower and its subsidiaries other than under
the Credit Agreement and (ii) any substantive amendment to the definition of “Material Adverse Effect” (as defined
in the Acquisition Agreement) is materially adverse to the interests of the Incremental Lenders and the Lead Arrangers);

 

(f)           receipt
by Administrative Agent and the Lead Arrangers of evidence that the net cash proceeds of the Equity Contribution in a direct or
indirect parent of Borrower shall have been contributed (or contributed substantially concurrently with the funding of the First
Incremental Term Loans) to Borrower in an amount sufficient to consummate the Acquisition and to pay the fees, costs and expenses
incurred in connection with the Transactions;

 

(g)          receipt
by Administrative Agent and the Lead Arrangers of a Pro Forma Compliance Certificate demonstrating that, after giving effect to
the incurrence of the First Incremental Term Loans and consummation of the Acquisition on a Pro Forma Basis (i) the Loan
Parties will be in compliance with the financial covenants set forth in Article 8 of the Credit Agreement for the most recently
completed four Fiscal Quarter period and (ii) the Consolidated Total Leverage Ratio (calculated on a Pro Forma Basis) as
of the end of the most recently completed four Fiscal Quarter period would not be greater than 3.00:1.00;

 

(h)          all
existing Indebtedness of the Target and its Subsidiaries, other than Indebtedness expressly permitted under Section 7.01
of the Credit Agreement as if the Target was a party thereto, shall have been repaid, or substantially simultaneously herewith,
shall be repaid and all Liens related to such Indebtedness or otherwise shall be terminated (other than Permitted Liens);

 

(i)           since
December 31, 2019, there shall not have occurred a “Material Adverse Effect” (as defined in the Acquisition Agreement);

 

(j)           receipt
by Administrative Agent and the Lead Arrangers at least five (5) Business Days prior to the Closing Date, of satisfactory
documentation and other information about Borrower and the Guarantors under applicable “know your customer” and anti-money
laundering rules and regulations, including the Patriot Act and the Beneficial Ownership Regulation (including, if Borrower
qualifies as a “legal entity customer” under the Beneficial Ownership Regulation, a certification regarding beneficial
ownership required by the Beneficial Ownership Regulation);

 

(k)          receipt
by Administrative Agent of evidence reasonably satisfactory to Administrative Agent that the Loan Parties have obtained all required
consents and approvals of all Persons including all requisite Governmental Authorities, to the execution, delivery and performance
of the Amendment;

 

(l)           receipt
by Administrative Agent and Lead Arrangers of favorable opinions of K&L Gates LLP and Polsinelli PC, counsel to the Loan Parties,
addressed to Administrative Agent, the Incremental Lenders, and the Secured Parties, dated as of the Effective Date, and in form
and substance satisfactory to Administrative Agent;

 

    6

     

    

 

(m)         such
resolutions, Organization Documents, good standings, and certifications by Responsible Officers in connection therewith, as Administrative
Agent may reasonably require;

 

(n)          receipt
by Administrative Agent and the Lead Arrangers of a solvency certificate from the Chief Financial Officer of Borrower;

 

(o)          receipt
by Administrative Agent and the Lead Arrangers of a certificate executed by a responsible Officer of Borrower certifying that
the conditions specified in this Section 6 have been satisfied and that the representations and warranties contained in Section 5
hereof are true and correct in all material respects (provided, that if any representation or warranty is by its terms qualified
by materiality, such representation and warranty shall be true and correct in all respects) as of the Effect Date;

 

(p)          receipt
by Administrative Agent and the Lead Arrangers of (i) a pro forma consolidated balance sheet and related pro forma consolidated
statement of income, shareholders’ equity and cash flows of Borrower and its Subsidiaries as of March 31, 2020, prepared
after giving effect to the Transactions as if the Transaction had occurred as of such date (in the case of such balance sheet)
or at the beginning of such period (in the case of such statement of income) and (ii) a pro forma organizational chart, including
disclosures as to each entity that will incur Indebtedness in connection with the Transactions;

 

(q)          receipt
by Administrative Agent and the Lead Arrangers of an audited balance sheet of the Target as of December 31, 2019 and the
related audited statements of income, shareholders’ equity and cash flows for the year then ended, and the related notes
to the financial statements;

 

(r)           receipt
by Administrative Agent and the Lead Arrangers of any fees required to be paid on or before the Effective Date under this Amendment,
the Credit Agreement or that certain Joint Fee Letter dated as of May 25, 2020, by and among, the Borrower, the Lead Arrangers
and each Incremental Lender; and

 

(s)          receipt
by Administrative Agent and the Lead Arrangers of reasonable, documented, out-of-pocket costs and expenses (including, without
limitation, fees and disbursements of counsel) required to be paid on or before the Effective Date.

 

7.            Effect
of Amendment. From and after the Effective Date, all references to the Credit Agreement set forth in any other Loan Document
or other agreement or instrument shall, unless otherwise specifically provided, be references to the Credit Agreement as amended
by this Amendment and as may be further amended, modified, restated or supplemented from time to time. This Amendment is limited
as specified and shall not constitute or be deemed to constitute an amendment, modification or waiver of any provision of the
Credit Agreement or of any other Loan Document except as expressly set forth herein. Except as expressly amended hereby, the Credit
Agreement shall remain in full force and effect in accordance with its terms.

 

    7

     

    

 

(a)          Reaffirmation
of Guaranty and Security. Borrower and each Guarantor, by its signature below, hereby (a) affirms its obligations under
the Collateral Documents and agrees that, notwithstanding the effectiveness of this Amendment, the Collateral Documents continue
to be in full force and effect and (b) affirms and confirms its guarantee of the Obligations and its prior pledge of and/or
prior grant of a security interest in its assets as Collateral to secure such Obligations, and the validity of the Liens granted
by it pursuant to the Collateral Documents, all as provided in the Collateral Documents, and acknowledges and agrees that such
guarantee, pledge and/or grant and all such Liens continue in full force and effect after giving effect to this Amendment, in
respect of, and to secure, the Obligations including the obligations in respect of the First Incremental Term Loans.

 

(b)          Ratification
of Loan Documents. Except as expressly set forth herein, all of the terms and conditions of the Credit Agreement and Loan
Documents are hereby ratified and confirmed and continue unchanged and in full force and effect.

 

(c)          Governing
Law. This Amendment shall be governed by and construed and enforced in accordance with the laws of the State of New York (without
regard to the conflicts of law provisions thereof).

 

(d)          Waiver
of Trial by Jury. EACH OF THE LOAN PARTIES AND ADMINISTRATIVE AGENT, BY ITS EXECUTION OR ACCEPTANCE OF THIS AMENDMENT,
REAFFIRMS ITS WAIVER OF THE RIGHT TO TRIAL BY JURY IN ANY ACTION, SUIT OR PROCEEDING OR COUNTERCLAIM OF ANY KIND ARISING OUT OF
OR RELATED TO ANY OF THE LOAN DOCUMENTS, THE OBLIGATIONS OR THE COLLATERAL.

 

(e)          Expenses.
The Loan Parties agree to pay upon demand all reasonable, documented out-of-pocket costs and expenses of Administrative Agent
(including, without limitation, all reasonable Attorney Costs) in connection with the preparation, negotiation, execution and
delivery of this Amendment.

 

(f)           Third
Parties. No rights are intended to be created hereunder for the benefit of any third party donee, creditor, or incidental
beneficiary.

 

(g)          Severability.
To the extent any provision of this Amendment is prohibited by or invalid under the applicable law of any jurisdiction, such provision
shall be ineffective only to the extent of such prohibition or invalidity and only in any such jurisdiction, without prohibiting
or invalidating such provision in any other jurisdiction or the remaining provisions of this Amendment in any jurisdiction.

 

(h)          Successors
and Assigns. This Amendment shall be binding upon, inure to the benefit of and be enforceable by the respective successors
and assigns of the parties hereto.

 

(i)           Construction.
The headings of the various sections and subsections of this Amendment have been inserted for convenience only and shall not in
any way affect the meaning or construction of any of the provisions hereof.

 

    8

     

    

 

(j)           Counterparts;
Effectiveness. This Amendment may be executed in any number of counterparts and by different parties hereto on separate counterparts,
each of which when so executed and delivered shall be an original, but all of which shall together constitute one and the same
instrument. This Amendment shall become effective as of the Effective Date upon the execution and delivery of a counterpart hereof
by the Loan Parties, Administrative Agent and Lenders, and the satisfaction of the conditions set forth in Section 6 hereof.
Signatures of the parties to this Amendment transmitted by facsimile or via other electronic format shall be deemed to be their
original signatures for all purposes. The words “execution,” “signed,” “signature,”
and words of like import in this Agreement shall be deemed to include electronic signatures or electronic records, each of which
shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping
system, as the case may be, to the extent and as provided for in any applicable Law, including the Federal Electronic Signatures
in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws
based on the Uniform Electronic Transactions Act.

 

[Signatures on following page.]

 

    9

     

    

 

IN WITNESS WHEREOF,
this Amendment has been duly executed as of the day and year first above written.

 

	ADMINISTRATIVE AGENT:	 	CIT FINANCE LLC, as Administrative Agent
	 	 	 
	 	 	 
	 	 	By:	/s/ Andres Alev
	 	 	Name:	Andres Alev
	 	 	Title:	Director

 

[Signature Page to
Incremental Amendment to Third Amended and Restated Credit and Guaranty Agreement]

 

    

     

    

 

	INCREMENTAL LENDERS:	 	REGIONS BANK, as an Incremental Lender
	 	 	 
	 	 	 
	 	 	By:	/s/ Corey Coward
	 	 	Name:	Corey Coward
	 	 	Title:	Director

 

[Signature Page to
Incremental Amendment to Third Amended and Restated Credit and Guaranty Agreement]

 

    

     

    

 

	INCREMENTAL LENDERS (CONTINUED):	 	CITIZENS BANK, N.A., as an Incremental Lender
	 	 	 
	 	 	 
	 	 	By:	/s/ James P. Harreson

	 	 	Name:	James P. Harreson

	 	 	Title:	Director

 

[Signature Page to
Incremental Amendment to Third Amended and Restated Credit and Guaranty Agreement]

 

    

     

    

 

	INCREMENTAL LENDERS (CONTINUED):	 	DEUTSCHE BANK AG NEW YORK BRANCH, as an Incremental Lender
	 	 	 
	 	 	 
	 	 	By:	/s/ Philip Tancorra
	 	 	Name:	Philip Tancorra
	 	 	Title:	Vice President
	 	 	 	philip.tancorra@db.com
	 	 	 	212-250-6576
	 	 	 	 
	 	 	 	 
	 	 	By:	/s/ Yumi Okabe
	 	 	Name:	Yumi Okabe
	 	 	Title:	Vice President
	 	 	 	Email: yumi.okabe@db.com
	 	 	 	Tel: +44 (20) 754-19412

 

[Signature Page to
Incremental Amendment to Third Amended and Restated Credit and Guaranty Agreement]

 

    

     

    

 

	INCREMENTAL LENDERS (CONTINUED):	 	ROYAL BANK OF CANADA, as an Incremental Lender
	 	 	 
	 	 	 
	 	 	By:	/s/ Steven T. Bachman
	 	 	Name:	Steven T. Bachman
	 	 	Title:	Authorized Signatory

 

[Signature Page to
Incremental Amendment to Third Amended and Restated Credit and Guaranty Agreement]

 

    

     

    

 

	BORROWER:	 	ADAPTHEALTH LLC
	 	 	 
	 	 	 
	 	 	By:	/s/ Luke McGee
	 	 	Name:	Luke McGee
	 	 	Title:	Chief Executive Officer

 

[Signature Page to Incremental Amendment
to Third Amended and Restated Credit and Guaranty Agreement]

 

    

     

    

 

	GUARANTORS:	 	Adapthealth INTERMEDIATE Holdco LLC
	 	 	adapthealth - missouri llc
	 	 	AIRCARE HOME RESPIRATORY, LLC
	 	 	american ancillaries, inc.
	 	 	Americoast Maryland LLC
	 	 	ASSOCIATED HEALTHCARE SYSTEMS, INC.
	 	 	Bennett Medical Services LLC
	 	 	Braden Partners, L.P.
	 	 	choice medical health care, llc
	 	 	CLEARVIEW MEDICAL INCORPORATED
	 	 	CPAP Solutions, LLC
	 	 	cpap2me, Inc.
	 	 	Family Home Medical Supply LLC
	 	 	First Choice DME LLC
	 	 	First Choice Home Medical Equipment, LLC
	 	 	GOULD’S DISCOUNT MEDICAL, LLC
	 	 	halprin, incorporated
	 	 	Health Solutions LLC
	 	 	HOME MEDICAL EXPRESS, INC.
	 	 	Home Mediservice, LLC
	 	 	Hometown Home Health, LLC
	 	 	LMI DME Holdings LLC
	 	 	 	 
	 	 	 	 
	 	 	By:	/s/ Luke McGee
	 	 	Name:	Luke McGee
	 	 	Title:	Chief Executive Officer

 

[Signature Page to
Incremental Amendment to Third Amended and Restated Credit and Guaranty Agreement]

 

    

     

    

 

	GUARANTORS (CONTINUED):	 	MED STAR SURGICAL & BREATHING
	 	 	EQUIPMENT INC.
	 	 	MED WAY MEDICAL, INC.
	 	 	MEDBRIDGE HOME MEDICAL LLC
	 	 	MED-EQUIP, INC.
	 	 	MEDSTAR HOLDINGS LLC
	 	 	OCEAN HOME HEALTH OF PA LLC
	 	 	OCEAN HOME HEALTH SUPPLY LLC
	 	 	OGLES OXYGEN, LLC
	 	 	ORBIT MEDICAL OF PORTLAND, INC.
	 	 	PALMETTO OXYGEN, LLC
	 	 	PPS HME HOLDINGS LLC
	 	 	PPS HME LLC
	 	 	ROBERTS HOME MEDICAL, LLC
	 	 	ROYAL DME LLC
	 	 	ROYAL MEDICAL SUPPLY INC.
	 	 	SLEEPEASY THERAPEUTICS, INC.
	 	 	SOUND OXYGEN SERVICE LLC
	 	 	TOTAL RESPIRATORY, LLC
	 	 	TRICOUNTY MEDICAL EQUIPMENT AND SUPPLY, LLC
	 	 	VERUS HEALTHCARE, INC.
	 	 	VERUS HEALTHCARE LLC
	 	 	 
	 	 	 
	 	 	By:	/s/ Luke McGee
	 	 	Name:	Luke McGee
	 	 	Title:	Chief Executive Officer

 

[Signature Page to Incremental Amendment
to Third Amended and Restated Credit and Guaranty Agreement]

 

    

     

    

 

SCHEDULE A: First Incremental Term Loan
Commitments

 

	Incremental Lender	 	First Incremental
    Term Loan	 
	Regions Bank	 	$	76,676,049.47	 
	Citizens Bank, N.A.	 	$	49,709,091.85	 
	Deutsche Bank AG New York Branch	 	$	44,944,929.34	 
	Royal Bank of Canada	 	$	44,944,929.34	 
	Total	 	$	216,275,000.00

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00311-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00311-of-00352.parquet"}]]