Document:

Exhibit 10.2

 

REGISTRATION RIGHTS AGREEMENT

 

This REGISTRATION RIGHTS
AGREEMENT (this “Agreement”) is dated as of December 24, 2020, by and among Accelerate Diagnostics, Inc., a
Delaware corporation (the “Company”), and the several Purchasers (as defined below) signatory hereto.

 

WHEREAS, contemporaneously
with the execution and delivery of this Agreement, the parties hereto have entered into that certain Purchase Agreement, dated
as of the date hereof (the “Purchase Agreement”), pursuant to which the Company desires to issue and sell to
the Purchasers, and the Purchasers desire to purchase from the Company, certain securities of the Company for which the Company
has agreed to provide registration rights.

 

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

 

ARTICLE
1.

DEFINITIONS

 

1.1.           
Definitions. Capitalized terms used and not otherwise defined herein that are defined in the Purchase Agreement shall
have the meanings given such terms in the Purchase Agreement. As used in this Agreement, the following terms shall have the following
meanings:

 

“Agreement”
has the meaning set forth in the Preamble.

 

“Company”
has the meaning set forth in the Preamble.

 

“Cut Back Shares”
has the meaning set forth in Section 2.4.

 

“Commission
Restrictions” has the meaning set forth in Section 2.4.

 

“Effective Period”
has the meaning set forth in Section 3.1(a).

 

“Filing Deadline”
means the 90th calendar day following the Closing Date for the third Tranche; provided, that if the Filing Deadline falls
on a Saturday, Sunday or other day that the Commission is closed for business, the Filing Deadline shall be extended to the next
business day on which the Commission is open for business.

 

“FINRA”
means the Financial Industry Regulatory Authority, Inc.

 

“Prospectus”
means (i) the prospectus included in any Registration Statement, as amended or supplemented by any prospectus supplement, with
respect to the terms of the offering of any portion of the Registrable Securities covered by such Registration Statement and by
all other amendments and supplements to the prospectus, including post-effective amendments and all material incorporated by reference
in such prospectus, and (ii) any “free writing prospectus” as defined in Rule 405 under the Securities Act.

 

     

     

    

 

“Public Offering”
means the offer and sale of Registrable Securities for cash pursuant to an effective Registration Statement under the Securities
Act (other than a Registration Statement on Form S-4 or Form S-8 or any successor form).

 

“Purchase Agreement”
has the meaning set forth in the Recitals.

 

“Purchaser”
means each Purchaser identified in the Purchase Agreement and any affiliate or permitted transferee of any Purchaser who is
a subsequent holder of Registrable Securities.

 

“Register,”
 “registered” and “registration” refer to a registration made by preparing and filing a Registration
Statement or similar document in compliance with the Securities Act, and the declaration or ordering of effectiveness of such Registration
Statement or document.

 

“Registrable
Securities” means (i) the Securities and (ii) all securities directly or indirectly issued with respect to the Securities
by way of a stock dividend or stock split, or in connection with a combination of shares, recapitalization, merger, consolidation
or other reorganization. As to any particular Registrable Securities, such securities shall cease to be Registrable Securities
when (w) a Registration Statement with respect to the sale of such securities shall have become effective under the Securities
Act and such securities shall have been disposed of in accordance with such Registration Statement, (x) such securities shall have
been transferred pursuant to Rule 144, (y) such holder is able to immediately sell all of such securities under Rule 144 without
any restrictions on transfer (including without application of paragraphs (c), (d), (e), (f) and (h) of Rule 144), as reasonably
determined by the Company, upon the advice of counsel to the Company, or (z) such securities shall have ceased to be outstanding.

 

“Registration
Statement” means any registration statement of the Company under the Securities Act that covers the resale of any of
the Registrable Securities pursuant to the provisions of this Agreement, amendments and supplements to such Registration Statement,
including post-effective amendments, all exhibits and all material incorporated by reference in such Registration Statement.

 

“Rule 144”
means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or
any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule.

 

“Rule 415”
means Rule 415 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or
any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule.

 

“Underwritten
Public Offering” means an underwritten Public Offering, including any bought deal or block sale to a financial institution
conducted as an underwritten Public Offering.

 

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ARTICLE
2.

REGISTRATION

 

2.1.           
Registration Statement.

 

(a)              
On or prior to the Filing Deadline, the Company shall prepare and file with the Commission one Registration Statement covering
the resale of all of the Registrable Securities. Each Registration Statement filed hereunder shall be on Form S-3 and for an offering
to be made on a continuous basis pursuant to Rule 415 (except if the Company is not then eligible to register for resale the Registrable
Securities on Form S-3, in which case such registration shall be on another appropriate form in accordance herewith, subject to
the provisions of Section 2.1(b)) and, subject to any Commission comments, such Registration Statement shall include the
plan of distribution attached hereto as Exhibit A; provided, that no Purchaser shall be named as an “underwriter”
in such Registration Statement without such Purchaser’s prior written consent. Such Registration Statement also shall cover,
to the extent allowable under the Securities Act and the rules promulgated thereunder (including Rule 416), such indeterminate
number of additional shares of Common Stock resulting from stock splits, stock dividends or similar transactions with respect to
the Registrable Securities. Such Registration Statement (and each amendment or supplement thereto) shall be provided in accordance
with Section 3.1(c) to each Purchaser prior to its filing or other submission.

 

(b)              
If Form S-3 is not available for the registration of the resale of Registrable Securities hereunder, the Company shall (i)
register the resale of the Registrable Securities on another appropriate form and (ii) undertake to register the Registrable Securities
on Form S-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of the Registration Statement
then in effect until such time as a Registration Statement on Form S-3 covering the Registrable Securities has been declared effective
by the SEC.

 

2.2.            Expenses.
All expenses incident to the Company’s performance of or compliance with this Agreement (excluding any underwriting
discounts and selling commissions and all legal fees and expenses of legal counsel for any Purchaser, which shall be borne
solely by the Purchasers) shall be paid by the Company, including (i) all registration and filing fees, and any other fees
and expenses associated with filings required to be made with the Commission or FINRA, (ii) all fees and expenses in
connection with compliance with any securities or “Blue Sky” laws, (iii) all printing, duplicating, word
processing, messenger, telephone, facsimile and delivery expenses (including expenses of printing certificates for the
Registrable Securities in a form eligible for deposit with The Depository Trust Company and of printing prospectuses), (iv)
all fees and disbursements of counsel for the Company and of all independent certified public accountants or independent
auditors of the Company and any subsidiaries of the Company (including the expenses of any special audit and comfort letters
required by or incident to such performance), (v) Securities Act liability insurance or similar insurance if the Company so
desires, (vi) all fees and expenses incurred in connection with the listing of the Registrable Securities on any securities
exchange or quotation of the Registrable Securities on any inter-dealer quotation system, (vii) all reasonable fees and
expenses of any other Persons retained by the Company in connection with any Registration Statement or sale, and (viii) all
of the Company’s internal expenses (including all salaries and expenses of its officers and employees performing legal
or accounting duties). To the extent that underwriting discounts and selling commissions are incurred in connection with the
sale of Registrable Securities in an Underwritten Public Offering hereunder, such underwriting discounts and selling
commissions shall be borne solely by each Purchaser, as applicable.

 

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2.3.           
Effectiveness.

 

(a)              
The Company shall use reasonable best efforts to have any Registration Statement declared effective as soon as practicable
after the filing. The Company shall respond promptly to any and all comments made by the staff of the SEC on any Registration Statement,
and shall submit to the SEC, within two (2) business days after the Company learns that no review of the Registration Statement
will be made by the staff of the SEC or that the staff of the SEC has no further comments on such Registration Statement, as the
case may be, a request for acceleration of the effectiveness of such Registration Statement to a time and date not later than two
business days after the submission of such request. The Company shall notify each Purchaser by facsimile or e-mail as promptly
as practicable, and in any event, within 24 hours, after any such Registration Statement is declared effective and shall, upon
request, provide each Purchaser with copies of any related Prospectus to be used in connection with the sale or other disposition
of the securities covered thereby.

 

(b)              
Notwithstanding anything to the contrary contained herein, the Company may, upon written notice to any holder of Registrable
Securities included in a Registration Statement, suspend the use of any Registration Statement, including any Prospectus that forms
a part of a Registration Statement, if the Company (X) determines that it would be required to make disclosure of material information
in the Registration Statement that the Company has a bona fide business purpose for preserving as confidential, (Y) determines
it must amend or supplement the Registration Statement or the related Prospectus so that such Registration Statement or Prospectus
shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary
to make the statements therein, in the case of the Prospectus in light of the circumstances under which they were made, not misleading
or (Z) has experienced or is experiencing some other material non-public event, including a pending transaction involving the Company,
the disclosure of which at such time, in the good faith judgment of the Company, would adversely affect the Company; provided,
however, in no event shall holders of Registrable Securities be suspended from selling Registrable Securities pursuant to
the Registration Statement for a period that exceeds 30 consecutive Business Days or 60 total Business Days in any 360-day period.
Upon disclosure of such information or the termination of the condition described above, the Company shall provide prompt notice
to holders whose Registrable Securities are included in the Registration Statement, and shall promptly terminate any suspension
of sales it has put into effect and shall take such other reasonable actions to permit registered sales of Registrable Securities
as contemplated hereby.

 

2.4.            Rule
415; Cutback. If at any time the SEC takes the position that the offering of some or all of the Registrable Securities in
a Registration Statement is not eligible to be made on a delayed or continuous basis under the provisions of Rule 415, the
Company shall (i) remove from the Registration Statement such portion of the Registrable Securities (the “Cut Back
Shares”) and/or (ii) agree to such restrictions and limitations on the registration and resale of the Registrable
Securities as the SEC may require to assure the Company’s compliance with the requirements of Rule 415 (collectively,
the “Commission Restrictions”); provided, however, that the Company shall not agree to name
any Purchaser as an “underwriter” in such Registration Statement without the prior written consent of such
Purchaser. From and after such date as the Company is able to effect the registration of such Cut Back Shares in accordance
with any Commission Restrictions applicable to such Cut Back Shares, all of the provisions of this Article 2
(including the Company’s obligations with respect to the filing of a Registration Statement and its obligations to use
reasonable best efforts to have such Registration Statement declared effective within the time periods set forth herein)
shall again be applicable to such Cut Back Shares; provided, however, that the Filing Deadline for the
Registration Statement including such Cut Back Shares shall be 30 Business Days after such Restriction Termination Date.

 

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2.5.           
Other Limitations. Notwithstanding any other provision herein or in the Purchase Agreement, the applicable filing
deadline for a Registration Statement shall be extended in the event that the Company’s failure to make such filing results
solely and directly from the failure of a Purchaser to timely provide the Company with information requested by the Company in
writing as being necessary to complete a Registration Statement in accordance with the requirements of the 1933 Act (in which case
any such deadline would be extended with respect to all Registrable Securities during the period from the date of such written
request until such time as such Purchaser provides such requested information).

 

ARTICLE
3.

REGISTRATION PROCEDURES

 

3.1.           
Obligations of the Company. In connection with the registration of the Securities,, the Company shall:

 

(a)              
use reasonable best efforts to cause each such Registration Statement to become effective and to remain continuously effective
until such time as the earlier of: (i) there are no longer Registrable Securities held by such Purchaser, or (ii) all of the Registrable
Securities of such Purchaser can be sold pursuant to Rule 144 without regard to the volume-of-sale limitations imposed under Rule
144(e) (the “Effectiveness Period”) and advise such Purchaser promptly in writing when the Effectiveness Period
has expired;

 

(b)              
prepare and file with the SEC such amendments and post-effective amendments to such Registration Statement and the related
Prospectus as may be necessary to keep such Registration Statement effective for the Effectiveness Period and to comply with the
provisions of the Securities Act and the Exchange Act with respect to the distribution of all of the Registrable Securities covered
thereby;

 

(c)              
provide copies to such Purchaser and permit such Purchaser’s legal counsel to review each Registration Statement and
all amendments and supplements at least four (4) business days in advance of their filing with the SEC; provided, that the
Company shall duly consider any comments received no later than two (2) business days prior to the filing of such Registration
Statement, amendment or supplement, but shall not be required to accept any such comments to which it reasonably objects;

 

(d)               if
requested by a Purchaser, furnish to such Purchaser and its legal counsel (i) immediately after the same is prepared and
publicly distributed, filed with the SEC, or received by the Company (but not later than 24 hours after the filing date,
receipt date or sending date, as the case may be) one (1) copy of any Registration Statement and any amendment thereto, each
preliminary prospectus and Prospectus and each amendment or supplement thereto, and each letter written by or on behalf of
the Company to the SEC or the staff of the SEC, and each item of correspondence from the SEC or the staff of the SEC, in each
case relating to such Registration Statement (other than any portion of any thereof which contains information for which the
Company has sought confidential treatment or it reasonably believes would constitute material and non-public information) and
(ii) such number of copies of a Prospectus, including a preliminary prospectus, and all amendments and supplements thereto
and such other documents as such Purchaser may reasonably request in order to facilitate the disposition of the Registrable
Securities owned by such Purchaser that are covered by the related Registration Statement; provided, however,
that the Company shall have no obligation to provide any document pursuant to this clause that is available on the
Commission’s EDGAR system;

 

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(e)              
use reasonable best efforts to (i) prevent the issuance of any stop order or other suspension of effectiveness and, (ii)
if such order is issued, obtain the withdrawal of any such order at the earliest possible moment and to notify such Purchaser of
the issuance of such order and the resolution thereof;

 

(f)               
use reasonable best efforts to register or qualify (unless an exemption from the registration or qualification exists) or
cooperate with such Purchaser and its counsel in connection with the registration or qualification of such Registrable Securities
for offer and sale under the securities or “Blue Sky” laws of such domestic jurisdictions as are reasonably requested
by such Purchaser and do any and all other reasonable acts or filings necessary or advisable to enable a distribution in such jurisdictions
of the Registrable Securities covered by the Registration Statement; provided, however, that the Company shall not
be required in connection therewith or as a condition thereto to (i) qualify to do business in any jurisdiction where it would
not otherwise be required to qualify but for this Section 3.1(f), (ii) subject itself to general taxation in any jurisdiction
where it would not otherwise be so subject but for this Section 3.1(f), or (iii) file a general consent to service of process
in any such jurisdictions;

 

(g)              
promptly notify such Purchaser, at any time prior to the end of the Effectiveness Period, upon discovery that, or upon the
happening of any event as a result of which, the Prospectus includes an untrue statement of a material fact or omits to state any
material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances
then existing, and as promptly as reasonably possible prepare, file with the SEC and furnish to such holder a supplement to or
an amendment of such Prospectus as may be necessary so that such Prospectus shall not include an untrue statement of a material
fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading
in light of the circumstances then existing;

 

(h)               otherwise
use reasonable best efforts to comply with all applicable rules and regulations of the SEC under the Securities Act and the
Exchange Act, including, without limitation, Rule 172 under the Securities Act, file any final Prospectus, including any
supplement or amendment thereof, with the SEC pursuant to Rule 424 under the Securities Act, promptly inform such Purchaser
in writing if, at any time during the Effectiveness Period, the Company does not satisfy the conditions specified in Rule 172
and, as a result thereof, such Purchaser is required to deliver a Prospectus in connection with any disposition of
Registrable Securities and take such other actions as may be reasonably necessary to facilitate the registration of the
Registrable Securities hereunder; and

 

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(i)                
if requested by a Purchaser, cooperate with such Purchaser to facilitate the timely preparation and delivery of certificates
representing Registrable Securities to be delivered to a transferee pursuant to an effective Registration Statement, which certificates
shall be free, to the extent permitted by the Purchase Agreement and applicable law, of all restrictive legends, and to enable
such certificates to be in such denominations and registered in such names as any such Purchaser may request.

 

3.2.           
Obligations of Each Purchaser. In connection with the registration of the Securities, each Purchaser shall:

 

(a)              
furnish in writing to the Company such information regarding itself, the Registrable Securities held by it and the intended
method of disposition of the Registrable Securities held by it, as shall be reasonably required to effect the registration of such
Registrable Securities and shall execute such documents in connection with such registration as the Company may reasonably request.
At least five (5) business days prior to the first anticipated filing date of any Registration Statement, the Company shall notify
each Purchaser of the information the Company requires from such Purchaser if the Purchaser is to have any of the Registrable Securities
included in such Registration Statement. Such Purchaser shall provide such information to the Company at least two (2) business
days prior to the first anticipated filing date of such Registration Statement if such Purchaser is to have any of the Registrable
Securities included in such Registration Statement. If such Purchaser fails to provide to the Company the information required
by this Section 3.2(a) by such date, the Company shall not be obligated to include such Purchaser’s Registrable Securities
in such Registration Statement and shall have no obligation to register such Registrable Securities under the Securities Act; and

 

(b)              
by its acceptance of the Registrable Securities, agrees to cooperate with the Company as reasonably requested by the Company
in connection with the preparation and filing of a Registration Statement hereunder, unless such Purchaser has notified the Company
in writing of its election to exclude all of its Registrable Securities from such Registration Statement.

 

ARTICLE
4.

INDEMNIFICATION

 

4.1.            Indemnification
by the Company. The Company will indemnify and hold each Purchaser Party harmless from any and all Losses to which it may
become subject under the Securities Act or otherwise, insofar as such Losses arise out of or are based upon (i) any untrue
statement or alleged untrue statement or omission or alleged omission of any material fact contained in any Registration
Statement, any preliminary Prospectus or final Prospectus, or any amendment or supplement thereof (it being understood that
each Purchaser has approved Exhibit A hereto for this purpose) or (ii) any violation by the Company of any rule or
regulation promulgated under the Securities Act or Exchange Act applicable to the Company and relating to action or inaction
required of the Company in connection with such registration; provided, however, that the Company will not be
liable in any such case if and to the extent that any such Losses arise out of or are based upon an untrue statement or
alleged untrue statement or omission or alleged omission so made in conformity with information furnished on behalf of a
Purchaser in writing specifically for use in such Registration Statement or Prospectus; and provided, further, that
the foregoing indemnity shall not apply to amounts paid in settlement of any Losses if such settlement is effected without
the consent of the Company.

 

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4.2.           
Indemnification by the Purchasers. Each Purchaser, for any Registration Statement in which it is named as a selling
stockholder, will, severally and not jointly, indemnify and hold each Company Party harmless from any and all Losses resulting
from any untrue statement of a material fact or any omission of a material fact required to be stated in the Registration Statement
or Prospectus or preliminary Prospectus or amendment or supplement thereto or necessary to make the statements therein not misleading,
to the extent, but only to the extent that such untrue statement or omission is contained in any information furnished in writing
on behalf of such Purchaser to the Company specifically for inclusion in such Registration Statement or Prospectus or amendment
or supplement thereto and has not been corrected in a subsequent writing prior to the sale of the Registrable Securities thereunder;
provided, however, that the foregoing indemnity shall not apply to amounts paid in settlement of any Losses if such
settlement is effected without the consent of such Purchaser. In no event shall the liability of any Purchaser be greater in amount
than the dollar amount of the proceeds (net of all expense paid by such Purchaser in connection with any claim relating to this
Article 4 and the amount of any damages such Purchaser has otherwise been required to pay by reason of such untrue statement
or omission) received by such Purchaser upon the sale of the Registrable Securities included in the Registration Statement giving
rise to such indemnification obligation.

 

4.3.           
Conduct of Indemnification Proceedings. Any Person entitled to indemnification hereunder shall (i) give prompt notice
to the indemnifying party of any claim with respect to which it seeks indemnification and (ii) permit such indemnifying party to
assume the defense of such claim with counsel reasonably satisfactory to the indemnified party; provided, that any Person
entitled to indemnification hereunder shall have the right to employ separate counsel and to participate in the defense of such
claim, but the fees and expenses of such counsel shall be at the expense of such Person unless (a) the indemnifying party has agreed
to pay such fees or expenses, (b) the indemnifying party shall have failed to assume the defense of such claim and employ counsel
reasonably satisfactory to such Person or (c) in the reasonable judgment of any such Person, based upon written advice of its counsel,
a conflict of interest exists between such Person and the indemnifying party with respect to such claims (in which case, if the
Person notifies the indemnifying party in writing that such Person elects to employ separate counsel at the expense of the indemnifying
party, the indemnifying party shall not have the right to assume the defense of such claim on behalf of such Person); and provided,
further, that the failure of any indemnified party to give notice as provided herein shall not relieve the indemnifying
party of its obligations hereunder, except to the extent that such failure to give notice shall materially adversely affect the
indemnifying party in the defense of any such claim or litigation. It is understood that the indemnifying party shall not, in connection
with any proceeding in the same jurisdiction, be liable for fees or expenses of more than one separate firm of attorneys at any
time for all such indemnified parties. No indemnifying party will, except with the consent of the indemnified party, which shall
not be unreasonably withheld or conditioned, consent to entry of any judgment or enter into any settlement that does not include
as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability
in respect of such claim or litigation.

 

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4.4.           
 Contribution. If for any reason the indemnification provided for in Section 4.1 and Section 4.2 is
unavailable to an indemnified party or insufficient to hold it harmless, other than as expressly specified therein, then the indemnifying
party shall contribute to the amount paid or payable by the indemnified party as a result of such Losses in such proportion as
is appropriate to reflect the relative fault of the indemnified party and the indemnifying party, as well as any other relevant
equitable considerations. Relative fault shall be determined by reference to whether any alleged untrue statement or omission relates
to information provided by the Company or by a holder of Registrable Securities. 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 not guilty of such
fraudulent misrepresentation. In no event shall the contribution obligation of any Purchaser be greater in amount than the dollar
amount of the proceeds (net of all expense paid by such Purchaser in connection with any claim relating to this Article 4
and the amount of any damages such Purchaser has otherwise been required to pay by reason of such untrue statement or omission)
received by such Purchaser upon the sale of the Registrable Securities included in the Registration Statement giving rise to such
contribution obligation.

 

ARTICLE
5.

MISCELLANEOUS

 

5.1.           
Notices. All notices and other communications provided for or permitted hereunder shall be made as set forth in the
Purchase Agreement.

 

5.2.           
Amendments; Waivers; No Additional Consideration. No provision of this Agreement may be waived or amended except
in a written instrument signed by the Company and Purchasers holding no less than a majority of the then outstanding Registrable
Securities. No waiver of any default with respect to any provision, condition or requirement of this Agreement shall be deemed
to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition or
requirement hereof, nor shall any delay or omission of either party to exercise any right hereunder in any manner impair the exercise
of any such right.

 

5.3.           
Construction. The headings herein are for convenience only, do not constitute a part of this Agreement and shall
not be deemed to limit or affect any of the provisions hereof. The language used in this Agreement will be deemed to be the language
chosen by the parties and their counsel to express their mutual intent, and no rules of strict construction will be applied against
any party. This Agreement shall be construed as if drafted jointly by the parties, and no presumption or burden of proof shall
arise favoring or disfavoring any party by virtue of the authorship of any provisions of this Agreement.

 

5.4.           
Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors
and permitted assigns. This Agreement, or any rights or obligations hereunder, may not be assigned by the Company (except by merger
or in connection with another entity acquiring all or substantially all of the Company’s assets) without the prior written
consent of each Purchaser. Any Purchaser may assign its rights hereunder in whole or in part to any Person to whom such Purchaser
assigns or transfers any Securities in compliance with the Transaction Documents and applicable law; provided, that such
transferee shall agree in writing to be bound by the terms and conditions of the Transaction Documents and provides written notice
of assignment to the Company promptly after such assignment is effected.

 

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5.5.           
 No Third-Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective
successors and permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other Person.

 

5.6.           
Governing Law. All questions concerning the construction, validity, enforcement and interpretation of this Agreement
shall be determined in accordance with the provisions of the Purchase Agreement.

 

5.7.           
Execution. This Agreement may be executed in two or more counterparts, all of which when taken together shall be
considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered
to the other party, it being understood that both parties need not sign the same counterpart. In the event that any signature is
delivered by facsimile transmission, such signature shall create a valid and binding obligation of the party executing (or on whose
behalf such signature is executed) with the same force and effect as if such facsimile signature page were an original thereof.

 

5.8.           
Severability. If any provision of this Agreement is held to be invalid or unenforceable in any respect, the validity
and enforceability of the remaining terms and provisions of this Agreement shall not in any way be affected or impaired thereby
and the parties will attempt to agree upon a valid and enforceable provision that is a reasonable substitute therefor, and upon
so agreeing, shall incorporate such substitute provision in this Agreement.

 

5.9.           
Remedies. In addition to being entitled to exercise all rights provided herein or granted by law, including recovery
of damages, each of the Purchasers and Company will be entitled to specific performance under this Agreement. The parties agree
that monetary damages may not be adequate compensation for any loss incurred by reason of any breach of obligations described in
the foregoing sentence and hereby agrees to waive in any action for specific performance of any such obligation the defense that
a remedy at law would be adequate.

 

[SIGNATURE PAGES FOLLOW]

 

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

 

	 	“COMPANY”:
	 	ACCELERATE DIAGNOSTICS, INC.,
	 	a Delaware corporation
	 	 
	 	/s/ Michael
    Bridge
	 	Name: Michael Bridge
	 	Title: Senior Vice President and General
    Counsel

 

	 	“PURCHASERS”:
	 	Jack W. Schuler Living Trust
	 	 
	 	/s/ Jack
    W. Schuler
	 	Name: Jack W. Schuler
	 	Title: President

 

	 	John Patience Trust, dated
    July 23, 1993
	 	 
	 	/s/ John
    Patience
	 	Name: John Patience
	 	Title: Trustee

 

	 	Birchview Fund, LLC
	 	 
	 	/s/ Matthew
    Strobeck
	 	Name: Matthew Strobeck
	 	Title: Managing Partner

 

	 	Mark C. Miller Trust,
    dated April 26, 2002
	 	 
	 	/s/ Mark
    C. Miller
	 	Name: Mark C. Miller
	 	Title: Trustee

 

	 	Thomas D. Brown
	 	 
	 	/s/ Thomas
    D. Brown
	 	Name: Thomas D. Brown

 

	 	John J. Phillips
	 	 
	 	/s/
    Jack Phillips
	 	Name: Jack Phillips

 

     

    

    

 

EXHIBIT A

 

PLAN OF DISTRIBUTION

 

The selling stockholders
and any of their pledgees, donees, transferees, assignees or other successors-in-interest may, from time to time, sell, transfer
or otherwise dispose of any or all of their shares of common stock or interests in shares of common stock on any stock exchange,
market or trading facility on which the shares are traded or in private transactions. These dispositions may be at fixed prices,
at prevailing market prices at the time of sale, at prices related to the prevailing market price, at varying prices determined
at the time of sale, or at negotiated prices.

 

The selling stockholders
may use one or more of the following methods when disposing of the shares or interests therein:

 

		·	ordinary brokerage transactions and transactions in which the broker-dealer solicits purchasers;

 

		·	block trades in which the broker-dealer will attempt to sell the shares as agent but may position
and resell a portion of the block as principal to facilitate the transaction;

 

		·	through brokers, dealers or underwriters that may act solely as agents;

 

		·	purchases by a broker-dealer as principal and resale by the broker-dealer for its account;

 

		·	an exchange distribution in accordance with the rules of the applicable exchange;

 

		·	privately negotiated transactions;

 

		·	through the writing or settlement of options or other hedging transactions entered into after the
effective date of the registration statement of which this prospectus is a part, whether through an options exchange or otherwise;

 

		·	broker-dealers may agree with the selling stockholders to sell a specified number of such shares
at a stipulated price per share;

 

		·	a combination of any such methods of disposition; and

 

		·	any other method permitted pursuant to applicable law.

 

The selling stockholders
may also sell shares under Rule 144 or Rule 904 under the Securities Act of 1933, as amended, or Securities Act, if available,
or Section 4(a)(1) under the Securities Act, rather than under this prospectus.

 

    

     

    

 

Broker-dealers engaged
by the selling stockholders may arrange for other broker-dealers to participate in sales. Broker-dealers may receive commissions
or discounts from the selling stockholders (or, if any broker-dealer acts as agent for the purchaser of shares, from the purchaser)
in amounts to be negotiated. The selling stockholders do not expect these commissions and discounts to exceed what is customary
in the types of transactions involved.

 

The selling stockholders
may, from time to time, pledge or grant a security interest in some or all of the shares of common stock owned by them and, if
they default in the performance of their secured obligations, the pledgees or secured parties may offer and sell shares of common
stock from time to time under this prospectus, or under a supplement or amendment to this prospectus under Rule 424(b)(3) or other
applicable provision of the Securities Act amending the list of selling stockholders to include the pledgee, transferee or other
successors in interest as selling stockholders under this prospectus.

 

Upon being notified
in writing by a selling stockholder that any material arrangement has been entered into with a broker-dealer for the sale of common
stock through a block trade, special offering, exchange distribution or secondary distribution or a purchase by a broker or dealer,
we will file a supplement to this prospectus, if required, pursuant to Rule 424(b) under the Securities Act, disclosing (i) the
name of each such selling stockholder and of the participating broker-dealer(s), (ii) the number of shares involved, (iii) the
price at which such shares of common stock were sold, (iv) the commissions paid or discounts or concessions allowed to such broker-dealer(s),
where applicable, (v) that such broker-dealer(s) did not conduct any investigation to verify the information set out or incorporated
by reference in this prospectus, and (vi) other facts material to the transaction. In addition, upon being notified in writing
by a selling stockholder that a donee or pledge intends to sell more than 500 shares of common stock, we will file a supplement
to this prospectus if then required in accordance with applicable securities law.

 

The selling stockholders
also may transfer the shares of common stock in other circumstances, in which case the transferees, pledgees or other successors
in interest will be the selling beneficial owners for purposes of this prospectus.

 

In connection with
the sale of the shares of common stock or interests in shares of common stock, the selling stockholders may enter into hedging
transactions after the effective date of the registration statement of which this prospectus is a part with broker-dealers or
other financial institutions, which may in turn engage in short sales of the common stock in the course of hedging the positions
they assume. The selling stockholders may also sell shares of common stock short after the effective date of the registration
statement of which this prospectus is a part and deliver these securities to close out their short positions, or loan or pledge
the common stock to broker-dealers that in turn may sell these securities. The selling stockholders may also enter into option
or other transactions after the effective date of the registration statement of which this prospectus is a part with broker-dealers
or other financial institutions or the creation of one or more derivative securities which require the delivery to such broker-dealer
or other financial institution of shares offered by this prospectus, which shares such broker-dealer or other financial institution
may resell pursuant to this prospectus (as supplemented or amended to reflect such transaction).

 

     

     

    

 

The selling stockholders
and any broker-dealers or agents that are involved in selling the shares may be deemed to be “underwriters” within
the meaning of the Securities Act in connection with such sales. In such event, any commissions received by such broker-dealers
or agents and any profit on the resale of the shares purchased by them may be deemed to be underwriting commissions or discounts
under the Securities Act. The maximum commission or discount to be received by any member of the Financial Industry Regulatory
Authority (FINRA) or independent broker-dealer will not be greater than 8% of the initial gross proceeds from the sale of any security
being sold.

 

We have advised the
selling stockholders that they are required to comply with Regulation M promulgated under the Securities Exchange Act of 1934,
as amended, during such time as they may be engaged in a distribution of the shares. The foregoing may affect the marketability
of the common stock.

 

The aggregate proceeds
to the selling stockholders from the sale of the common stock offered by them will be the purchase price of the common stock less
discounts or commissions, if any. Each of the selling stockholders reserves the right to accept and, together with their agents
from time to time, to reject, in whole or in part, any proposed purchase of common stock to be made directly or through agents.
We will not receive any of the proceeds from this offering.

 

We are required to
pay all fees and expenses incident to the registration of the shares. We have agreed to indemnify the selling stockholders against
certain losses, claims, damages and liabilities, including liabilities under the Securities Act or otherwise.

 

We have agreed with
the selling stockholders to keep the registration statement of which this prospectus constitutes a part effective until the earlier
of (a) such time as all of the shares covered by this prospectus have been disposed of pursuant to and in accordance with the registration
statement or (b) the date on which the shares of common stock covered by this prospectus may be sold or transferred pursuant to
Rule 144 under the Securities Act without any volume limitations under such rule.EX-10.1

 Exhibit 10.1 
  

 
 December 17, 2020 

Mr. Roderick O’Reilly 
 [address] 

Dear Rod: 
 As discussed, effective December 31, 2020, your
employment will be transferred from Change Healthcare Technologies, LLC to Change Healthcare Canada Company in Vancouver, British Columbia, including the transfer of all accrued seniority, which you agree constitutes as valuable and sufficient
consideration for entering into this Agreement. This letter agreement (“Agreement”) is intended to confirm the terms of your employment with Change Healthcare Canada Company (together with its affiliates, the “Company”). 

You acknowledge that your employment offer letter with Change Healthcare Technologies, LLC, signed on February 17, 2020, is hereby terminated, as of the
date of the transfer of employment to Change Healthcare Canada Company, and the terms and conditions of your employment will be governed exclusively by this Agreement and the terms, conditions and benefits regarding tax equalization as provided in
your International Assignment letter dated January 1, 2020 and Change Healthcare’s International Long-Term Assignment Policy for the long-term assignment that ended on March 15, 2020, even though you are not currently on a long-term
assignment. Accordingly, if any net amounts paid or advanced to you are determined to result in an overpayment, you are still required to return such overpayment to Change Healthcare. In addition, you are entitled to continuing tax return assistance
for the tax years in which you were on assignment (including 2020) and tax equalization through March 15, 2020. 
 The details of your offer are as
follows:
  

	1.	 Position and Responsibilities. You will be an overtime exempt employee, continuing to serve in the
position of EVP and President, Software and Analytics. You will be based in Vancouver, British Columbia and will report to Neil de Crescenzo, CEO, or other person as may be designated by the Company from time to time. You will assume and
discharge all responsibilities commensurate with such position and as your manager may direct. You acknowledge that you may be required to travel in connection with the performance of your duties. 

 

	2.	 Compensation 

  

	 	a.	 Remuneration. In consideration of your services, your remuneration will be 672,746 CAD
annualized, paid on a semi-monthly basis, in accordance with the Company’s payroll practices.  

  

	 	b.	 Annual Incentive Bonus Plan. You continue to be eligible to participate in the Change Healthcare Annual
Incentive Plan (AIP), an annual incentive plan, with a target award of 85% of your annual base salary, the amount of which to be determined at the Company’s sole discretion. Annual incentive payouts are calculated based on your fiscal year-end Company performance and your individual performance and will be paid in accordance with the Company’s annual incentive plan distribution schedule. 

  
 Inspiring a Better Healthcare System

 

 
  

 The payment of an AIP in one year or in a series of years does not imply or guarantee that
you will continue to receive an AIP in future year(s), nor does it imply or guarantee the amount of any such future AIPs, if awarded. 
 The
AIP is designed to reward employees for actual contributions to the performance of the Company. As such, unless otherwise mandated by applicable employment standards legislation, no notice period, whether given by you as notice of resignation or by
the Company as notice of termination (or which a court or tribunal determines ought to have been given by the Company) shall extend your eligibility to receive an AIP (or any other bonus or incentive) even if your employment is terminated
‘without cause’. Accordingly, you shall have no claim or entitlement, whether at common law or otherwise, to receive compensation or damages for the loss of an AIP or any other bonus or incentive, or the opportunity to earn them. 

 

	 	c.	 Equity. Your job continues to be eligible for consideration to participate in the Company’s
Long-Term Incentive (LTI) Program. LTI awards are nominations made at the discretion of leadership based on your overall performance and contribution to the business and your expected future potential as a growth leader and are contingent upon the
approval of the Board of Directors. Participation in the Long-Term Incentive program is never guaranteed and is made for limited positions at Change Healthcare. Receiving an award in a given year does not guarantee that you will receive an award
every year. 

  

	3.	 Overtime Eligibility. Your position is classified as overtime exempt. For all hours worked, employees
classed as overtime exempt will be compensated by the established base salary and various benefits programs; employees will have no set hours of work in your position but the Company expects you to work such hours as are required to ensure timely
and efficient completion of your duties. 

  

	4.	 Health and Wellness. You will continue to be eligible for benefit coverage under the company’s
health and welfare insurance plans commensurate with your role , in accordance with the terms of such plans, as amended by the Company or the benefit providers offering the plans from time to time. You acknowledge that the Company provides access to
benefits only and does not warrant their provision. 

 You will be entitled to annual vacation leave as provided under the
Company’s employee vacation policy as may be amended at the sole discretion of the Company. 
  

	5.	 Employment Eligibility. You represent that you are legally eligible to work in British Columbia. The
duties, as well as the job title referenced above, may be altered at the sole discretion of the Company. You shall work under the direction and supervision of your manager or any other such person as the Company may designate from time to time.

  

	6.	 Standards and Devotion. You agree that you shall at all times during the term of this Agreement,
faithfully and diligently perform your duties in a professional manner. You agree that while providing services to the Company you will not engage in or become connected with any other business for remuneration or any other non-remunerative work which will interfere with the performance of your 

  
 Inspiring a Better Healthcare System

 

 
  

	 	
obligations under this Agreement or which otherwise is or may be against the interests of or in competition with the Company without first obtaining the Company’s CEO’s consent, such
consent not to be unreasonably delayed or denied. The Company acknowledges and agrees that you may serve on the Board of Directors of Prescryptive Health, Inc., subject to the terms and conditions of Change Healthcare’s policy on conflicts of
interest. 

  

	7.	 Business Expense Reimbursement. You will be entitled to reimbursement of all reasonable business-related
expenses, including business related automobile costs at the designated rate per kilometer, subject to the Company’s approval. Further, when on business travel in the U.S., medical and travel insurance will be provided. 

 

	8.	 Privacy. The Company shall comply with applicable privacy laws in relation to your employment with the
Company. You hereby agree that the disclosure of your personal information may be required as part of the ongoing operations of the Company’s business, as required by law, as part of the Company’s audit process, as part of a potential
business or commercial transaction, or as part of the Company’s management of the employment relationship, and you hereby grant your consent as may be required by applicable privacy laws to the use and disclosure of your personal information
for those purposes. 

  

	9.	 Employment Standards Poster. To help ensure that employees understand their rights under the Employment
Standards Act, the British Columbia Ministry of Labour has prepared and published a poster entitled “Working in B.C.”, a copy of which may be obtained here https://www2.gov.bc.ca/assets/gov/employment-business-and-economic-development/employment-standards-workplace-safety/employment-standards/factsheets-pdfs/working_in_bc_poster.pdf

  

	10.	 Termination of Employment. Your employment may be terminated in the following manner and circumstances:

  

	 	(a)	 by mutual consent; 

  

	 	(b)	 by you, by giving the Company at least two (2) weeks of written notice, which, subject to any statutory
requirements to the contrary, the Company may waive in whole or in part, in which case any compensation and perks that you enjoy will cease on the day that the Company waived such notice; 

 

	 	(c)	 by the Company, without any notice or pay in lieu of notice, if you breach this employment contract or the
Company otherwise has just cause to terminate your employment (unless notice or pay in lieu of notice is required by the British Columbia Employment Standards Act, R.S.B.C. 1996, in which case you shall receive only the minimum amount of
statutory notice of termination or pay in lieu of such notice (or some combination of the two), benefits coverage continuation (if applicable), and statutory severance pay (if applicable), as is required by the British Columbia Employment
Standards Act, R.S.B.C. 1996 (as amended) or, 

  
 Inspiring a Better Healthcare System

 

 
  

	 	(d)	 Without Cause. The terms and conditions under the U.S. Executive Severance Guidelines (the
“Guidelines”) will govern your entitlements upon termination without cause, with necessary modifications to ensure compliance with British Columbia law. Accordingly, the Company reserves the right to terminate your employment under this
Agreement without cause, at any time, for any lawful reason other than a Change in Control, by providing you with the following: 

  

	 	i.	 A payment equal to twelve (12) months of your annualized Remuneration which is in effect on the date of
termination; and 

  

	 	ii.	 Continued coverage on the company’s Canadian medical, dental and prescription drug plans on the same terms
as active employees during the twelve (12) month period following your termination. 

 Notwithstanding the above, if
your termination occurs upon a Change in Control (as defined herein), or within twelve (12) months after a Change in Control, you shall also receive: 
  

	 	iii.	 The bonus you would have received under the Annual Incentive Plan (“AIP”) in effect at the time of
your termination, at one times your full target payout rate for the year in which the termination occurs. 

 You agree and acknowledge
that your entitlement described under Section 10(d)(i), (ii) and (iii) (as applicable) is conditional upon you signing a full and final release in favor of the Company on the form provided by the Company at the time of such termination
(“Release”) and within such time period required by the Company. 
 The Release will, inter alia, provide for a general release of and all
claims relating to your hiring by, your employment with, and the termination of your employment by the Company, and shall release the Company from all possible claims through and including the date of execution 

If you fail or refuse to sign the Release, you will not be entitled to the payment described under Section 10(d)(i), (ii) and (iii) (if applicable) but
instead you will be entitled to only the minimum amount of statutory notice of termination or pay in lieu of such notice (or some combination of the two), benefits coverage continuation, as is required by the British Columbia Employment Standards
Act, R.S.B.C. 1996 (as amended), along with any and all other minimum entitlements upon termination which may be required by the British Columbia Employment Standards Act, R.S.B.C. 1996 (as amended), and nothing more. For clarity, in such
case, you shall not be entitled to any additional amounts because of the termination of your employment, including pursuant to the “common law”. 

For the purposes of Section 10(d)(iii) of the Agreement, “Change in Control” shall have the meaning set forth in the Change Healthcare
Inc. US Severance Guidelines. 
 Since bonus or any other incentive compensation and fringe benefits or outstanding stock options, restricted
stock units or other equity grants are intended to reward employees for actual contributions to the performance of the Company and foster retention of employees, they shall not form part of your termination/severance entitlements (except to the
extent described above), unless 

  
 Inspiring a Better Healthcare System

 

 
  

 
that is mandated by the British Columbia Employment Standards Act (as amended) and you shall have no right to claim damages in relation to the cessation of your participation in such
plans. Accordingly, upon the termination of your employment (regardless of the reason, and notwithstanding anything in such plans that could be construed otherwise), you will receive only what is mandated by the British Columbia Employment
Standards Act (as amended) in relation to such plans, and no more than that. Accordingly, you will cease to be eligible to participate in the Company’s incentive and fringe benefit plans on the later of either (i) the end of any
applicable statutory notice period prescribed by the British Columbia Employment Standards Act (as amended) during which participation in such plans must continue, or (ii) as soon as your active employment ends if the Company elects to
provide you with any working notice. 
  

	11.	 Policies. The Company has a number of policies and procedures that apply to employees during the course
of their employment. Most of these policies are contained on the Company’s intranet to which you will be provided access. All employees are required to follow the policies and procedures that are in effect. The Company reserves the
right to alter the policies and procedures upon reasonable notice to you. 

  

	12.	 Employment Standards Act. In the event that the minimum standards in the British Columbia
Employment Standards Act, R.S.B.C. 1996, as amended from time to time, are more favorable to you, including but not limited to the provisions herein in respect of notice of termination, minimum wage or vacation entitlement than provided for
in this Agreement, the provisions of the British Columbia Employment Standards Act shall apply but the Agreement shall remain in force and shall be deemed to be amended only by such increases in the British Columbia Employment Standards
Act and nothing more. 

  

	13.	 Disclosure of Discoveries, Ideas and Inventions. To the extent allowed by applicable law, any new
technology, knowledge or information developed by you related to the business of the Company, Change Healthcare, any of Change Healthcare’s subsidiaries and affiliates (collectively “Change Healthcare”) during the term of this
Agreement shall be the exclusive property of Change Healthcare to the extent that such technology, knowledge or information is owned by you. 

You acknowledge that, to the extent allowed by applicable law, all Confidential Information (as hereinafter defined) and all discoveries, know-how, inventions, ideas, concepts, processes, products, protocols, treatments, methods, tests and improvements, computer programs, or parts thereof, conceived, developed, reduced to practice or otherwise made by
you either alone or with others, during the course of employment with the Company pursuant to this Agreement or any previous employment agreements or arrangements between you and the Company, whether or not conceived, developed, reduced to practice
or made during your regular working hours or on the premises of the Company (collectively “Inventions”), and any and all services and products which embody, emulate or employ any such Inventions will be the sole property of the Company and
all copyrights, patents, patent rights, trademarks, service marks and reproduction rights to, and other proprietary rights in, each such Invention, whether or not patentable or copyrightable, will belong exclusively to the Company. For purposes of
the copyright laws of the United States of America, to the extent, if any, that such laws are applicable to any such Invention or any such service or product, it will be considered a work made for hire and the Company will be considered the author
thereof. 

  
 Inspiring a Better Healthcare System

 

 
  

 You represent and warrant that you do not claim rights in, or otherwise exclude from this
Agreement, any Invention except as listed on Exhibit “A” hereto. 
 You shall disclose promptly to the Company, its successors or
assigns, any Inventions. 
 You hereby assign and agree to assign all your rights, title and interest in the Inventions, to the Company or
its nominee. 
 Whenever requested to do so by the Company, you shall execute any and all applications, assignments or other instruments
which the Company shall deem necessary to apply for and obtain patents or copyrights of Canada, the United States or any foreign country or to otherwise protect the Company’s interest in the Inventions and shall assist the Company in every
proper way (entirely at the Company’s expense, including reimbursement to you for all expense and loss of income) to obtain such patents and copyrights and to enforce them. 

You hereby waive for the benefit of the Company and its successors and assigns any and all moral rights in respect of any Inventions. 

Your obligations outlined within “Disclosure of Discoveries, Ideas and Inventions” continue beyond your termination of employment
with respect to Inventions authored, conceived or made by you during the entire course of their employment with the Company and shall be binding upon your assigns, executors, administrators and other legal representatives.

 

	14.	 Confidential Information. You acknowledge that, by reason of your employment with the Company, you will
have access to Confidential Information, as hereinafter defined, of Change Healthcare. “Confidential Information” as used in this Agreement means all trade secrets, proprietary information and other data or information (and any tangible
evidence, record or representation thereof) whether prepared, conceived or developed by an employee or agent of Change Healthcare (including you) or received by Change Healthcare from an outside source which is maintained in confidence by Change
Healthcare or any of its customers. Without limiting the generality of the foregoing, Confidential Information, includes information of Change Healthcare’s pertaining to: 

 

	 	(i)	 research and development plans or projects, data and reports; computer materials such as programs,
instructions, source and object code, and printouts; formulas, inventions, developments and discoveries; product information, including testing information; business improvements and processes; marketing and selling plans; business opportunities,
plans (whether pursued or not) and budgets; unpublished financial statements; licenses; pricing, pricing strategy and cost data; information regarding the skills and compensation of employees; the identities of clients and potential clients,
customers and potential customers (collectively, “Customers”); the identities of contact persons at Customers; the preferences and needs of Customers; customer contact persons; information regarding sales calls, timing, sales terms,
service plans, methods, practices, strategies, forecasts, know-how, and other marketing techniques; the identities of key accounts, potential key accounts; the identities of suppliers and contractors, and all
information about those supplier and contractor relationships such as contact person(s), pricing and other terms; 

  
 Inspiring a Better Healthcare System

 

 
  

	 	(ii)	 any information relating to the relationship of Change Healthcare with any personnel, suppliers, principals,
investors, contacts or prospects of Change Healthcare and any information relating to the requirements, specifications, proposals, orders, contracts or transactions of or with any such persons; and 

 

	 	(iii)	 financial information, including Change Healthcare’s costs, financing or debt arrangements, income,
profits, salaries or wages; and, 

  

	 	(iv)	 personal information related to third parties including, but not limited to, personal health information.

 You acknowledge that the Confidential Information is a valuable and unique asset of Change Healthcare’s and that
the Confidential Information is and will remain the exclusive property of Change Healthcare. 
 You agree to maintain securely and hold in
strict confidence all Confidential Information received, acquired or developed by you or disclosed to you as a result of or in connection with your employment with the Company. You agree that, both during your employment and after the termination of
your employment with the Company, you will not disclose any Confidential Information to any person, other than as required to perform your duties under this Agreement, without the prior written authorization of the Company’s President and Chief
Executive Officer. The obligation of confidentiality imposed by this Agreement shall not apply to information that appears in issued patents or printed publications, that otherwise becomes generally known in the industry through no act of yours in
breach of this Agreement, or that is required to be disclosed by court order or applicable law. 
 You understand that Change Healthcare has
from time to time in its possession information belonging to third parties or which is claimed by third parties to be confidential or proprietary and which Change Healthcare has agreed to keep confidential. You agree that all such information shall
be Confidential Information for the purposes of this Agreement. 
 You represent and warrant that you have not brought and will not bring
with you to the Company, and that you have not used and will not use, while performing your duties for the Company, any materials or documents of a former employer which you are under a duty not to disclose other than Change Healthcare Technologies,
LLC. You understand that, while employed by the Company, you shall not breach any obligation or confidence or duty you may have to a former employer and you agree that you will fulfill all such obligations during your employment with the
Company.
 You represent and warrant that you will not, to the best of your knowledge and belief, use or cause to be incorporated in any of
your work product any data software, information, designs, techniques or know-how which you or the Company does not have the right to use. 

You agree that documents, copies, records and other property or materials made or received by you that pertain to the business and affairs of
Change Healthcare, including all Confidential Information which is in your possession or under your control are the property of Change Healthcare and that you will return same and any copies of same to Change Healthcare immediately upon termination
of your employment or at any time upon the request of Change Healthcare. 

  
 Inspiring a Better Healthcare System

 

 
  

 You agree that during your employment, you may acquire information regarding the health care
records of patients. You agree that this information is Confidential Information and agrees that, except as required by law, you shall keep such information strictly confidential. 

Your obligations outlined within “Confidential Information” shall continue beyond your termination of employment. 

 

	15.	 Non-Competition. During your employment with the Company and for
a period of 12 months following your termination of employment from the Company for any reason, you shall not, in the Restricted Area (as defined below), directly or indirectly, own (not including a passive and
non-controlling ownership interest in a competitor through ownership of less than 2% of the stock in a publicly traded company), manage, operate, finance, join, control or participate in the ownership,
management, operation, financing or control of, or be connected as an officer, director, employee, partner, principal, agent, representative, consultant, or use or permit your name to be used in connection with, any business or enterprise which
competes with the Company in the business of designing, developing and marketing products for the acquisition, management and electronic storage of digital images for diagnostic medical applications. For purposes of this Section and within Section “Non-Solicitation”, below, the “Restricted Area” is Canada and the United States. 

  

	16.	 Non-Solicitation. During your employment with the Company and
for a period of 12 months following your termination of employment from the Company for any reason, you shall not (unless acting as an employee under this Agreement or with the prior written consent of the Company’s President):

  

	 	(i)	 call on, solicit, or endeavor to entice away, either directly or indirectly, any Customers (as defined in
“Confidential Information” above) of Change Healthcare’s that you serviced for Change Healthcare (or that any of your subordinates (if there are any subordinates) serviced for Change Healthcare in relation to which you had material
contact or Confidential Information); or 

  

	 	(ii)	 directly or indirectly, solicit or attempt to solicit, any employee, independent contractor or consultant of
Change Healthcare’s to terminate his or her relationship with Change Healthcare in order to become an employee, consultant or independent contractor for any person or entity other than Change Healthcare. 

 

	17.	 Equitable and Other Relief. You acknowledge and agree that the Sections of this Agreement entitled
“Disclosures of Discoveries, Ideas and Inventions”, “Confidential Information”, “Non-Competition” and “Non-Solicitation” shall
survive the termination of your employment with the Company for any reason under this Agreement including, but not limited to termination of employment for cause, or without cause, or otherwise. 

You acknowledge and agree that the restrictions contained in Sections of this Agreement “Disclosures of Discoveries, Ideas and
Inventions”, “Confidential Information”, “Non-Competition” and “Non-Solicitation” are, in view of the nature of the business of the
Company, reasonable and necessary to protect the legitimate interests of the Company, that the Company would not have entered into this Agreement in the absence of such restrictions, that the business of the Company is international in scope and
that any violation of any provision of those Sections could result in irreparable injury to the Company. 

  
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 You agree that, in the event you violate any of the restrictions referred to in Sections of
this Agreement entitled “Disclosures of Discoveries, Ideas and Inventions”, “Confidential Information”, “Non-Competition” and “Non-
Solicitation” the Company shall be entitled to preliminary and permanent injunctive relief and any other remedies in law or in equity which the court deems fit. 

If any provision of this Agreement is deemed unenforceable or invalid for any reason, you agree that it will be severable from the remainder of
this Agreement and, in its application at that time, this Agreement will be construed as though such provision was not contained herein and the remainder will continue in full force and effect and be construed as if this Agreement had been executed
without the invalid or unenforceable provision. 
 You acknowledge and agree that you have obtained independent legal advice concerning this
Agreement before signing it, or have had a full, reasonable opportunity to obtain legal advice concerning this Agreement before signing it and have declined to obtain legal advice concerning this Agreement of your own free will and without any
influence from anyone at the Company or otherwise. 
 You should be aware that the Company gathers personal information about you for use in
providing you with medical and health benefits, and for assessing and dealing with your employment relationship, including, but not limited to, any possible need to accommodate a disability. The Company also gathers information about you regarding
your job abilities and history. Some of this may be publicly available, but most of it is not. We may rely on this information and utilize it in determining your future with the Company. You hereby agree that the Company may gather such personal
information and may list your home telephone number, your mobile phone number, your home e mail address and your residential street address in its internal directory; the Company may provide your personal information to external vendors as required
and may use your personal information as outlined in applicable Company policies and procedures, in particular as outlined within the Company privacy policy disclosure. 

Kindly signify your acceptance of the terms and conditions under which the Company is offering you employment by signing and dating the duplicate copy of this
letter and returning same to me prior to that date. 
  

	
	Best regards,
	
	/s/ Neil de Crescenzo
	
	Neil de Crescenzo
	President and Chief Executive Officer

  
 Inspiring a Better Healthcare System

 

 
  

 I have read, understand, and agree with the foregoing and all of the enclosures. I accept transfer of
employment to Change Healthcare Canada Company on the terms and conditions described above and in the enclosures to this Agreement. I HEREBY ACCEPT EMPLOYMENT ON THE TERMS AND CONDITIONS OUTLINED HEREIN. 

 

							
	Signature:	 	 /s/ Roderick O’Reilly
	 	                	  	Date: December 22, 2020
		 	Roderick O’Reilly	 		  	

 Exhibit “A”: Disclosure of Discoveries, Inventions, and Ideas 

List of Excluded Inventions 

  
 Inspiring a Better Healthcare System

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