Document:

EX-10.2

 Exhibit 10.2 

VOTING AGREEMENT 
 This
Voting Agreement (this “Agreement”) is entered into as of January 3, 2017 (the “Effective Date”), by and among (i) Magellan Petroleum Corporation, a Delaware corporation (“Magellan”), (ii)
Tellurian Investments Inc., a Delaware corporation (“Tellurian”), (iii) Total Delaware, Inc., a Delaware corporation (“Total”), and (iv) the individuals set forth on Schedule A of this Agreement
(referred to herein individually as a “Stockholder” and collectively, as the “Stockholders”) who are current stockholders of Tellurian and will be stockholders of Magellan following the Merger (as defined below).

 RECITALS: 

WHEREAS, Tellurian and Total have entered into that Common Stock Purchase Agreement, dated as of December 19, 2016 (the
“Purchase Agreement”), pursuant to which Total has agreed to purchase and Tellurian has agreed to issue and sell 35,384,615 shares of common stock, par value $0.001 per share, of Tellurian (“Tellurian Common Stock”)
in exchange for $206,999,997.75; 
 WHEREAS, this Agreement is being executed and delivered in connection with the closing of the
transactions contemplated by the Purchase Agreement; 
 WHEREAS, Magellan, Tellurian and River Merger Sub, Inc., a Delaware
corporation and a direct wholly owned subsidiary of Magellan (“Merger Sub”), entered into that Agreement and Plan of Merger, dated August 2, 2016 (as amended on November 23, 2016 and December 19, 2016, and as may be
further amended from time to time, the “Merger Agreement”), pursuant to which each outstanding share of common stock, par value $0.001 per share, of Tellurian will be converted into the right to receive 1.3 shares of common stock,
par value $0.01 per share of Magellan (“Magellan Common Stock”), and Merger Sub will merge with and into Tellurian, with Tellurian continuing as the surviving corporation and a direct subsidiary of Magellan (the
“Merger”); 
 WHEREAS, immediately following the effectiveness of the Merger (the “Merger Effective
Time”), Total will own (either of record or beneficially) 46,000,000 shares of Magellan Common Stock; and 
 WHEREAS, in
connection with the consummation of the transactions contemplated by the Purchase Agreement and the Merger Agreement, the parties hereto desire to enter into this Agreement to set forth certain understandings and agreements with respect to
(a) the appointment of a director to each of the Boards of Directors of Tellurian and Magellan and (b) the other matters set forth herein. 

NOW, THEREFORE, in consideration of the mutual covenants and agreements contained in this Agreement and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 ARTICLE I 

VOTING AGREEMENT 

Section 1.1 Designation of a Director. 

(a) Designation of the Total-Tellurian Director. Immediately following the closing of the transactions contemplated by the Purchase
Agreement, Jean Jaylet (the “Initial Total-Tellurian Director”) shall be appointed to the Board of Directors of Tellurian (the “Tellurian Board”). Subject to Total’s compliance with
Section 2.14 hereof, at all times prior to 

 
the Merger Effective Time and the Expiration Date, each Stockholder agrees to vote all voting securities of Tellurian owned or controlled by such Stockholder, and agrees to take all other actions
within such Stockholder’s control relating to the ownership of Tellurian Common Stock (including by attending stockholder meetings in person or by proxy for purposes of constituting a quorum and the execution of written consents in lieu of
meetings), and Tellurian agrees to take all commercially reasonable actions within its control (including calling Board and stockholder meetings), to elect to the Tellurian Board one (1) director designated by Total (each such director,
including the Initial Total-Tellurian Director, is referred to herein as the “Total-Tellurian Director”). 
 (b)
Designation of the Total-Magellan Director. Subject to Total’s compliance with Section 2.14 hereof, at all times after the Merger Effective Time and prior to the Expiration Date, each Stockholder agrees to vote
all voting securities of Magellan owned or controlled by such Stockholder, and agrees to take all other actions within such Stockholder’s control relating to its ownership of Magellan Common Stock (including by attending stockholder meetings in
person or by proxy for purposes of constituting a quorum and the execution of written consents in lieu of meetings), and Magellan agrees to take all commercially reasonable actions within its control (including calling Board and stockholder
meetings), to elect to the Board of Directors of Magellan (the “Magellan Board”) one (1) director designated by Total (each such director is referred to herein as the “Total-Magellan Director”), with Jean
Jaylet designated by Total to serve as the initial Total-Magellan Director immediately following the Merger Effective Time. 
 (c)
Qualifications. Any Total-Tellurian Director or Total-Magellan Director appointed or elected to the Tellurian Board or the Magellan Board, as applicable, (i) may be removed for cause in accordance with applicable law or Tellurian’s
or Magellan’s respective certificate of incorporation and bylaws as in effect on the date hereof and (ii) shall not be prohibited or disqualified from serving as a director of Tellurian or Magellan, respectively, pursuant to any rule or
regulation of the Securities and Exchange Commission, any other governmental authority, the Nasdaq Capital Market, or by applicable law. 

Section 1.2 Removal and Vacancies. 

(a) Removal Rights. Subject to Section 1.1(c), at all times prior to the Merger Effective Time and the Expiration Date, Total
will have the sole right to remove the Total-Tellurian Director. 
 (b) Removal of the Total-Tellurian Director. At all times prior
to the Effective Time of the Merger and the Expiration Date, Total may remove the Total-Tellurian Director pursuant to Section 1.2(a) by presenting a notice (each, a “Tellurian Removal Notice”) executed by Total to
Tellurian requesting that the Total-Tellurian Director be removed. Tellurian will promptly forward a copy of the Tellurian Removal Notice to each Stockholder. Subject to Total’s compliance with Section 2.14 hereof,
upon receipt of a Tellurian Removal Notice, each Stockholder must either, as requested by Total, (i) take all commercially reasonable action to duly call and convene a special meeting of the stockholders of Tellurian for the purpose of removing
the Total-Tellurian Director named in the Tellurian Removal Notice (including by attending such meeting in person or by proxy for purposes of constituting a quorum) and voting all voting securities of Tellurian owned or controlled by such
Stockholder for the removal of the Total-Tellurian Director named in the Tellurian Removal Notice or (ii) execute and deliver a written consent in lieu of such meeting providing for the removal of the Total-Tellurian Director named in the
Tellurian Removal Notice.  

  
 2 

 (c) Vacancies. 

(i) In the event that the Total-Tellurian Director ceases for any reason to serve as a member of the Board of Directors of Tellurian at any
time prior to the Merger Effective Time and the Expiration Date (whether due to resignation, removal, death, disability or otherwise), the resulting vacancy on the Board of Directors of Tellurian will be filled as provided in
Section 1.1(a). Subject to Total’s compliance with Section 2.14 hereof, Tellurian and each Stockholder will take the actions specified in Section 1.1(a) to cause such designated successor to be
duly elected as a director at the earliest practicable time. 
 (ii) In the event that the Total-Magellan Director ceases for any reason to
serve as a member of the Board of Directors of Magellan at any time after the Merger Effective Time and prior to the Expiration Date (whether due to resignation, removal, death, disability or otherwise), the resulting vacancy on the Board of
Directors of Magellan will be filled as provided in Section 1.1(b). Subject to Total’s compliance with Section 2.14 hereof, Magellan and each Stockholder will take the actions specified in
Section 1.1(b) to cause such designated successor to be duly elected as a director at the earliest practicable time. 

Section 1.3 Expenses. Tellurian will reimburse the Total-Tellurian Director for his or her actual and reasonable out-of-pocket expenses incurred in attending meetings of the Board of Directors of Tellurian and any committee thereof. Magellan will reimburse the Total-Magellan Director for
his or her actual and reasonable out-of-pocket expenses incurred in attending meetings of the Board of Directors of Magellan and any committee thereof. 

Section 1.4 No Exclusive Duty. The Total-Tellurian Director shall not be required to devote any particular amount of time or
resources to his or her role as a Total-Tellurian Director and the Total-Tellurian Director may have other business interests and may engage in other activities in addition to those relating to Tellurian and its subsidiaries and affiliates, and
neither Tellurian, nor Tellurian’s subsidiaries, affiliates or other stockholders shall have any right in or to any of such other ventures or activities or to the income or proceeds derived therefrom. The Total-Magellan Director shall not be
required to devote any particular amount of time or resources to his or her role as a Total-Magellan Director and the Total-Magellan Director may have other business interests and may engage in other activities in addition to those relating to
Magellan and its subsidiaries and affiliates, and neither Magellan, nor Magellan’s subsidiaries, affiliates or other stockholders shall have any right in or to any of such other ventures or activities or to the income or proceeds derived
therefrom. 
 Section 1.5 Observation Rights. At all times prior to the Merger Effective Time and the Expiration Date, the
Total-Tellurian Director will receive notice of, and have the right to attend and observe, any and all meetings of any committee of the Board of Directors of Tellurian, except for any committee constituted or otherwise charged to consider or address
a transaction or other matter in which Total or any of its affiliates has a material interest that is adverse to, or otherwise presents a conflict with respect to the interests of, Tellurian or the stockholders of Tellurian generally. At all times
after the Merger Effective Time, the Total-Magellan Director will receive notice of, and have the right to attend and observe, any and all meetings of any committee of the Board of Directors of Magellan, except for any committee constituted or
otherwise charged to consider or address a transaction or other matter in which Total or any of its affiliates has a material interest that is adverse to, or otherwise presents a conflict with respect to the interests of, Magellan or the
stockholders of Magellan generally. 
 Section 1.6 Confidentiality; Use of Information. Total shall maintain, and shall cause
each Total-Tellurian Director and each Total-Magellan Director, as the case may be, to maintain the confidentiality of all non-public information regarding Tellurian or Magellan of which Total, and any

  
 3 

 
Total-Tellurian Director or Total-Magellan Director, becomes aware as a result of a Total-Tellurian Director serving on the Tellurian Board or a Total-Magellan Director serving on the
Total-Magellan Board. Total shall not trade in Tellurian securities or Magellan securities while in possession of material non-public information regarding Tellurian or Magellan, respectively. Confidential
information provided to Total or any Total-Tellurian Director or Total-Magellan Director by or on behalf of Tellurian or Magellan may only be used by Total or any Total-Tellurian Director or Total-Magellan Director for purposes of their respective
activities as a member of the Tellurian Board or Magellan Board or as an investor in Tellurian or Magellan, as applicable. 
 ARTICLE II

 GENERAL PROVISIONS 

Section 2.1 Interested Stockholder of Magellan. Magellan and the Magellan Board have taken all necessary action, if any, in order
to render inapplicable any control share acquisition, business combination, poison pill (including any distribution under a rights agreement) or other similar anti-takeover provision under Magellan’s certificate of incorporation (or similar
charter documents) or the laws of its state of incorporation that is or could become applicable to Total as a result of Total and Magellan fulfilling their obligations or exercising their rights under this Agreement, the Merger Agreement and the
Purchase Agreement, including, without limitation, as a result of Total purchasing the Tellurian Common Stock from Tellurian pursuant to the terms of the Purchase Agreement and Total’s ownership of the Tellurian Common Stock, assuming that
neither Total nor any “affiliate” or “associate” (as such terms are used in Section 203 of the Delaware General Corporation Law (the “DGCL”) of Total, is, or was or became at any time during the last three
years, an “interested stockholder” (as such term is defined in Section 203 of the DGCL) of Magellan. 
 Section 2.2
Further Assurances. Each of the parties hereto agrees, without additional consideration, to execute such documents and perform such further acts as may be reasonably required or desirable to carry out or perform the provisions of this
Agreement. 
 Section 2.3 Waiver, Amendment. Neither this Agreement nor any provision hereof shall be modified, waived,
changed, discharged or terminated except by an instrument in writing, signed by all of the parties hereto (in the case of a modification) or, in all other cases, the party against whom any waiver, change, discharge or termination is sought. 

Section 2.4 Assignability. Neither this Agreement nor any right, remedy, obligation or liability arising hereunder or by reason
hereof shall be assignable by any party hereto without the prior written consent of the other parties hereto. 
 Section 2.5 Waiver
of Jury Trial. THE PARTIES HERETO IRREVOCABLY WAIVE ANY AND ALL RIGHT TO TRIAL BY JURY WITH RESPECT TO ANY LEGAL PROCEEDING ARISING OUT OF THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. 

Section 2.6 Submission to Jurisdiction. With respect to any suit, action or proceeding relating to this Agreement (the
“Proceedings”), each party hereto irrevocably submits to the jurisdiction of the federal or state courts located in Harris County, Texas, which submission shall be exclusive unless none of such courts has lawful jurisdiction over
such Proceedings. 
 Section 2.7 Governing Law. This Agreement shall be governed by and construed in accordance with the laws of
the State of Delaware. 

  
 4 

 Section 2.8 Section and Other Headings. The section and other headings contained in
this Agreement are for reference purposes only and shall not affect the meaning or interpretation of this Agreement. 
 Section 2.9
Counterparts. This Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall be deemed to be an original and all of which together shall be deemed to be one and the same agreement. Delivery of
a copy of this Agreement bearing an original signature by facsimile transmission or by electronic mail in “portable document format” form shall have the same effect as physical delivery of the paper document bearing the original signature.

 Section 2.10 Notices. All notices and other communications provided for herein shall be in writing and shall be deemed to
have been duly given if delivered personally or sent by registered or certified mail, return receipt requested, postage prepaid to the following addresses (or such other address as any party shall have specified by notice in writing to the other
parties): 
  

			
	If to Tellurian:	  	 Tellurian Investments Inc.

 1201 Louisiana
Street, Suite 3100

 Houston, Texas 77002

 Attn: General
Counsel

 E-mail: daniel.belhumeur@tellurianinvestments.com

		
	If to Total:

	  	 TOTAL Delaware, Inc.

 1201 Louisiana
Street

 Suite 1800

 Houston, Texas 77002

Attn: General Counsel

 Email: Elizabeth.matthews@total.com

With a copy to: Isabelle.salhorgne@total.com

		
	If to Magellan:	  	 Magellan Petroleum Corporation
 1775 Sherman
Street, Suite 1950
 Denver, Colorado 80203
 Attn: Antoine
Lafargue
 E-mail: alafargue@magellanpetroleum.com

		
	If to the Stockholders	  	To the address set forth below each Stockholder’s name on the signature page hereto.

 Section 2.11 Binding Effect. The provisions of this Agreement shall be binding upon and accrue to
the benefit of the parties hereto and their respective heirs, legal representatives, successors and assigns. Nothing in this Agreement, express or implied, is intended to or shall confer upon any person or entity, other than Tellurian, Total,
Magellan and the Stockholders, any right, benefit or remedy of any nature whatsoever under or by reason of this Agreement. 

Section 2.12 Severability. If any term or provision of this Agreement is invalid, illegal or unenforceable in any jurisdiction,
such invalidity, illegality or unenforceability shall not affect any other term or provision of this Agreement or invalidate or render unenforceable such term or provision in any other jurisdiction. 

  
 5 

 Section 2.13 Entire Agreement. This Agreement is intended by the parties hereto as a
final expression of their agreement and intended to be a complete and exclusive statement of the agreement and understanding of the parties hereto and thereto in respect of the subject matter contained herein and therein. 

Section 2.14 Term; Ownership Report. This Agreement shall terminate upon the occurrence of the Expiration Date. For purposes of
this Agreement, the term “Expiration Date” shall mean the earlier of the first date (i) prior to the Merger Effective Time upon which Total shall own beneficially less than 10% of the outstanding shares of Tellurian Common
Stock, and (ii) following the Merger Effective Time upon which Total shall own beneficially less than 10% of the outstanding shares of Magellan Common Stock. Upon the written request by Tellurian, Magellan or any of the Stockholders, Total
shall promptly provide written notice and reasonably sufficient supporting documentation (the “Ownership Report”) to each of the Tellurian, Magellan and the Stockholders of the number of shares of Tellurian Common Stock or Magellan
Common Stock, as applicable, then owned beneficially by Total at least five (5) business days before any of Tellurian, Magellan or the Stockholders would be required to vote or otherwise act pursuant to Article I of this Agreement.

 [Signature page to follow] 

  
 6 

 IN WITNESS WHEREOF, the undersigned have executed this Voting Agreement as of the Effective Date.

  

			
	Magellan Petroleum Corporation
		
	By:	 	 /s/ Antoine Lafarque

	Name:	 	 Antoine Lafarque

	Title:	 	 President and Chief Executive Officer

	
	Total Delaware, Inc.
		
	By:	 	 /s/ Christophe Gerondeau

	Name:	 	 Christophe Gerondeau

	Title:	 	 President

	
	Tellurian Investments Inc.
		
	By:	 	 /s/ Meg Gentle

	Name:	 	 Meg Gentle

	Title:	 	 President and Chief Executive Officer

	
	 /s/ Charif Souki

	Charif Souki

 
			
		
	Address:	 	  

	  

	  

	
	Souki Family 2016 Trust

 
			
		
	By:	 	 /s/ Brooke A. Peterson

	Name:	 	 Brooke A. Peterson

	Title:	 	 Attorney-in-Fact

 
			
		
	Address:	 	  

	  

	  

	
	 /s/ Martin Houston

	Martin Houston
		
	Address:	 	  

	  

	  

  
 7 

 Schedule A 

Stockholders 
 Charif Souki 

Souki Family 2016 Trust 
 Martin Houston 

  
 8ex10-1.htm

Exhibit 10.2

 

Jack E. Stover
President and Chief Executive Officer
Morris Corporate Center 1, Building A
300 Interpace Parkway
Parsippany, NJ 07054

 

Dear Mr. Stover:   

 

This letter (the “Agreement”) constitutes the amended and restated agreement between Maxim Group LLC (“Maxim” or the “Placement Agent”) and Interpace Diagnostics Group, Inc., a Delaware corporation (the “Company”), effective as of January 3, 2017, that Maxim shall serve as the placement agent for the Company, on a best efforts basis, in connection with the proposed placement (the “Placement”) of an aggregate of up to 630,000 shares (the “Shares”) of the Company’s common stock, par value $0.01 per share (“Common Stock”). This Agreement hereby amends and restates that certain letter agreement, dated January 3, 2017, by and between the Placement Agent and the Company. The Shares are hereinafter referred to collectively as the “Securities.” The terms of the Placement and the Securities shall be mutually agreed upon by the Company and the purchasers (each, a “Purchaser” and collectively, the “Purchasers”) and nothing herein constitutes that Maxim has or would have the power or authority to bind the Company or any Purchaser or an obligation for the Company to issue any Securities or complete the Placement. This Agreement and the documents executed and delivered by the Company and the Purchasers in connection with the Placement, including but not limited to the Purchase Agreement, as defined below, shall be collectively referred to herein as the “Transaction Documents.” The date of the closing (the “Closing”) of the Placement shall be referred to herein as the “Closing Date.” The Company expressly acknowledges and agrees that Maxim’s obligations hereunder are on a reasonable best efforts basis only and that the execution of this Agreement does not constitute a commitment by Maxim to purchase the Securities and does not ensure the successful placement of the Securities or any portion thereof or the success of Maxim with respect to securing any other financing on behalf of the Company. The Placement Agent may retain other brokers or dealers to act as sub-agents or selected-dealers on its behalf in connection with the Placement. The sale of the Securities to any Purchaser will be evidenced by a securities purchase agreement (the “Purchase Agreement”) between the Company and such Purchaser in a form reasonably acceptable to the Company and Maxim. Capitalized terms that are not otherwise defined herein have the meanings given to such terms in the Purchase Agreement. Prior to the signing of any Purchase Agreement, officers of the Company will be available to answer inquiries from prospective Purchasers.

 

SECTION 1.

REPRESENTATIONS AND WARRANTIES INCORPORATED BY REFERENCE. Each of the representations and warranties (together with any related disclosure schedules thereto) made by the Company to the Purchasers in those certain Purchase Agreements dated as of January 3, 2017, between the Company and each Purchaser, is hereby incorporated herein by reference (as though fully restated herein) and is, as of the date of this Agreement, hereby made to, and in favor of, the Placement Agent. Each of the representations and warranties (together with any related disclosure schedules thereto) made by the Company to Maxim in the Letter of Engagement dated July 1, 2016, between the Company and Maxim, is hereby incorporated herein by reference (as though fully restated herein) and is, as of the date of this Agreement, hereby made to, and in favor of, the Placement Agent.

 

SECTION 2.

REPRESENTATIONS OF MAXIM. Maxim represents and warrants that it (i) is a member in good standing of FINRA, (ii) is registered as a broker/dealer under the Exchange Act, (iii) is licensed as a broker/dealer under the laws of the States applicable to the offers and sales of the Securities by Maxim, (iv) is and will be a body corporate validly existing under the laws of its place of incorporation, and (v) has full power and authority to enter into and perform its obligations under this Agreement. Maxim will immediately notify the Company in writing of any change in its status as such. Maxim covenants that it will use its reasonable best efforts to conduct the transaction hereunder in compliance with the provisions of this Agreement and the requirements of applicable law.  

 

 

 

 

 

SECTION 3.

COMPENSATION.

 

In consideration of the services to be provided for hereunder, the Company shall pay to the Placement Agent or their respective designees the following compensation with respect to the Securities, which they are placing:

 

(a)

A placement fee equal to eight percent (8%) of the gross proceeds from the sale of the securities in the Placement.

 

(b)

Subject to compliance with FINRA Rule 5110(f)(2)(D), the Company also agrees to reimburse Maxim for all reasonable travel and other out-of-pocket expenses, including the reasonable fees of legal counsel related to this transaction and with respect to previous agreements between the Company and Maxim pursuant to which Maxim would act as an underwriter or placement agent with respect to offerings of securities, in an amount not to exceed $30,000. The Company will reimburse Maxim directly out of the Closing of the Placement. In the event this Agreement shall terminate prior to the consummation of the Placement, Maxim shall be entitled to reimbursement for actual expenses; provided, however, such expenses shall not exceed $30,000.

 

(c)

The Placement Agent reserves the right to reduce any item of compensation or adjust the terms thereof as specified herein in the event that a determination shall be made by FINRA to the effect that the Placement Agent’s aggregate compensation is in excess of FINRA Rules or that the terms thereof require adjustment.

 

SECTION 4.

INDEMNIFICATION. The Company agrees to the indemnification and other agreements set forth in the Indemnification Provisions (the “Indemnification”) attached hereto as Addendum A, the provisions of which are incorporated herein by reference and shall survive the termination or expiration of this Agreement.

 

SECTION 5.

ENGAGEMENT TERM. Maxim’s engagement hereunder will be until the earlier of (i) January 31, 2017 and (ii) the completion of the Placement. The date of termination of this Agreement is referred to herein as the “Termination Date” and the period of time during which this Agreement remains in effect is referred to herein as the “Term.” If the Company elects to terminate for any reason even though Maxim was prepared to proceed with the Placement reasonably within the intent of this Agreement and, within twelve (12) months following such termination, the Company completes any financing of equity, equity-linked or debt or other capital raising activity of the Company (other than the exercise by any person or entity of any options, warrants or other convertible securities or issuances by the Company in connection with the restructuring of existing debt) with any of the investors whereby Maxim introduced to the Company or with whom Maxim conducted discussions on behalf of the Company during the term of this Agreement, then the Company will pay to Maxim upon the closing of such financing a finder’s fee equal to 8% of the gross proceeds raised by the Company from such financing. In the event, however, in the course of the Placement Agent’s performance of due diligence it deems it necessary to terminate the engagement, the Placement Agent may do so prior to the Termination Date. Upon such termination, Maxim shall deliver to the Company a list of all investors contacted by Maxim during the term of its engagement. Notwithstanding anything to the contrary contained herein, the provisions concerning the Company’s obligation to pay any fees actually earned pursuant to Section 5 hereof and which are permitted to be reimbursed under FINRA Rule 5110(f)(2)(D), and the confidentiality, indemnification and contribution provisions contained herein and the Company’s obligations contained in the Indemnification Provisions will survive any expiration or termination of this Agreement.

 

 

SECTION 6.

MAXIM INFORMATION. The Company agrees that any information or advice rendered by Maxim in connection with this engagement is for the confidential use of the Company only in their evaluation of the Placement and, except as otherwise required by law, the Company will not disclose or otherwise refer to the advice or information in any manner without Maxim’s prior written consent.

 

 

 

 

 

SECTION 7.

NO FIDUCIARY RELATIONSHIP. This Agreement does not create, and shall not be construed as creating rights enforceable by any person or entity not a party hereto, except those entitled hereto by virtue of the Indemnification Provisions hereof. The Company acknowledges and agrees that Maxim is not and shall not be construed as a fiduciary of the Company and shall have no duties or liabilities to the equity holders or the creditors of the Company or any other person by virtue of this Agreement or the retention of Maxim hereunder, all of which are hereby expressly waived.

 

SECTION 8.

CLOSING. The obligations of the Placement Agent, and the Closing of the sale of the Securities hereunder are subject to the accuracy, when made and on the Closing Date, of the representations and warranties on the part of the Company and its Subsidiaries contained herein and in the Purchase Agreement, to the accuracy of the statements of the Company and its Subsidiaries made in any certificates pursuant to the provisions hereof, to the performance by the Company and its Subsidiaries of their obligations hereunder, and to each of the following additional terms and conditions:

 

A.

No stop order suspending the effectiveness of the Registration Statement shall have been issued and no proceedings for that purpose shall have been initiated or threatened by the Commission, and any request for additional information on the part of the Commission (to be included in the Registration Statement, the Prospectus or the Prospectus Supplement or otherwise) shall have been complied with to the reasonable satisfaction of the Placement Agent.

 

B.

The Company has filed all reports, schedules, forms, statements or other documents required to be filed by the Company under the Securities Act or Exchange Act, during the three years preceding the date hereof (the foregoing materials filed during such three-year period, including the exhibits thereto and documents incorporated by reference therein, the “SEC Reports”) on a timely basis, other than a Current Report on Form 8-K filed on October 13, 2016, or has received a valid extension of such time of filing and has filed any such SEC Reports prior to the expiration of any such extension; as of their respective filing or amendment dates, the SEC Reports complied in all material respects with the requirements of the Exchange Act and the rules and regulations of the Commission promulgated thereunder; and as of their respective filing or amendment dates, the SEC Reports did not contain any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading.

 

C.

The Placement Agent shall not have discovered and disclosed to the Company on or prior to the Closing Date that the Registration Statement, the Prospectus or the Prospectus Supplement, or any amendment or supplement thereto contains an untrue statement of a fact which, in the opinion of counsel for the Placement Agent, is material or omits to state any fact which, in the opinion of such counsel, is material and is required to be stated therein or is necessary to make the statements therein not misleading.

 

 

D.

All corporate proceedings and other legal matters incident to the authorization, form, execution, delivery and validity of each of this Agreement and the Securities, and all other legal matters relating to this Agreement and the transactions contemplated hereby shall be reasonably satisfactory in all material respects to counsel for the Placement Agent, and the Company shall have furnished to such counsel all documents and information that they may reasonably request to enable them to pass upon such matters.

 

E.

 The Placement Agent shall have received as of the Closing Date the favorable opinions of legal counsel to the Company identified in the Purchase Agreement, dated as of such Closing Date, including, without limitation, a negative assurance letter from Company Counsel, addressed to the Placement Agent in form and substance reasonably satisfactory to the Placement Agent.

 

 

 

 

 

F.

(i) Neither the Company nor any of its Subsidiaries shall have sustained since the date of the latest audited or unaudited financial statements included in its SEC Reports, any material loss or interference with its business from fire, explosion, flood, terrorist act or other calamity, whether or not covered by insurance, or from any labor dispute or court or governmental action, order or decree, otherwise than as set forth in or contemplated by the Purchase Agreement and (ii) since such date there shall not have been any change in the capital stock or long-term debt of the Company or any of its Subsidiaries or any change, or any development involving a prospective change, in or affecting the business, general affairs, management, financial position, stockholders’ equity, results of operations or prospects of the Company and its Subsidiaries, otherwise than as set forth in or contemplated by the Purchase Agreement, the effect of which, in any such case described in clause (i) or (ii), is, in the judgment of the Placement Agent, so material and adverse as to make it impracticable or inadvisable to proceed with the sale or delivery of the Securities on the terms and in the manner contemplated by the Purchase Agreement.

 

G.

The Common Stock is registered under the Exchange Act and, as of the Closing Date, the Common Stock shall be listed, admitted and authorized for trading on the NASDAQ Stock Market and satisfactory evidence of such action shall have been provided to the Placement Agent. The Company shall have taken no action designed to, or likely to have the effect of terminating the registration of the Common Stock under the Exchange Act or delisting or suspending from trading the Common Stock from the NASDAQ Stock Market. Except as set forth in the SEC Reports or the Prospectus Supplement, the Company has not received any information suggesting that the Commission or the NASDAQ Stock Market is contemplating terminating such registration.

 

H.

Subsequent to the execution and delivery of this Agreement and up to the Closing Date, there shall not have occurred any of the following: (i) trading in securities generally on the NASDAQ Market shall have been suspended or minimum or maximum prices or maximum ranges for prices shall have been established on any such exchange or such market by the Commission or by such exchange or by any other regulatory body or governmental authority having jurisdiction, (ii) a banking moratorium shall have been declared by federal or state authorities or a material disruption has occurred in commercial banking or securities settlement or clearance services in the United States, (iii) the United States shall have become engaged in hostilities in which it is not currently engaged, the subject of an act of terrorism, there shall have been an escalation in hostilities involving the United States, or there shall have been a declaration of a national emergency or war by the United States, or (iv) there shall have occurred any other calamity or crisis or any change in general economic, political or financial conditions in the United States or elsewhere, if the effect of any such event in clause (iii) or (iv) makes it, in the sole judgment of the Placement Agent, impracticable or inadvisable to proceed with the sale or delivery of the Securities on the terms and in the manner contemplated by the Purchase Agreement.

 

I.

No action shall have been taken and no statute, rule, regulation or order shall have been enacted, adopted or issued by any governmental agency or body which would, as of the Closing Date, prevent the issuance or sale of the Securities or materially and adversely affect or potentially and adversely affect the business or operations of the Company; and no injunction, restraining order or order of any other nature by any federal or state court of competent jurisdiction shall have been issued as of the Closing Date which would prevent the issuance or sale of the Securities or materially and adversely affect the business or operations of the Company.

 

J.

The Company shall have entered into a Purchase Agreement with each of the Purchasers and such agreements shall be in full force and effect and shall contain representations, warranties and covenants of the Company as agreed between the Company and the Purchasers.

 

K.

FINRA shall have raised no objection to the fairness and reasonableness of the terms and arrangements of this Agreement. In addition, the Company shall, if requested by the Placement Agent, make or authorize Placement Agent’s counsel to make on the Company’s behalf, any Issuer Filing with FINRA as may be required with respect to the Placement and pay all filing fees required in connection therewith.

 

L.

On or prior to the Closing Date, the Company shall have furnished to the Placement Agent such further information, certificates and documents as the Placement Agent may reasonably request.

 

 

 

 

 

M.

The Company shall engage and maintain, at its expense, a nationally recognized independent PCAOB registered public accounting firm for a period of three (3) years after the Closing Date.

 

N.

The Company shall engage and, for a period of three (3) years after the Closing Date, shall maintain, at its expense, a transfer agent and, if necessary under the jurisdiction of its incorporation or the rules of any national securities exchange on which the Common Stock will be listed, a registrar (which, if permitted by applicable laws and rules may be the same entity as the transfer agent) for the Common Stock, which transfer agent and/or registrar is reasonably acceptable to the Placement Agent.

 

If any of the conditions specified in this Section 8 shall not have been fulfilled when and as required by this Agreement, or if any of the certificates, opinions, written statements or letters furnished to the Placement Agent or to Placement Agent’s counsel pursuant to this Section 8 shall not be reasonably satisfactory in form and substance to the Placement Agent and to Placement Agent’s counsel, all obligations of the Placement Agent hereunder may be cancelled by the Placement Agent at, or at any time prior to, the consummation of the Closing. Notice of such cancellation shall be given to the Company in writing or orally. Any such oral notice shall be confirmed promptly thereafter in writing.

 

SECTION 9.

[Intentionally Omitted.]

 

SECTION 10.

GOVERNING LAW. This Agreement will be governed by, and construed in accordance with, the laws of the State of New York applicable to agreements made and to be performed entirely in such State. This Agreement may not be assigned by either party without the prior written consent of the other party. This Agreement shall be binding upon and inure to the benefit of the parties hereto, and their respective successors and permitted assigns. Any right to trial by jury with respect to any dispute arising under this Agreement or any transaction or conduct in connection herewith is waived. Each of the Placement Agent and the Company: (i) agrees that any legal suit, action or proceeding arising out of or relating to this Agreement and/or the transactions contemplated hereby shall be instituted exclusively in New York Supreme Court, County of New York, or in the United States District Court for the Southern District of New York, (ii) waives any objection which it may have or hereafter to the venue of any such suit, action or proceeding, and (iii) irrevocably consents to the jurisdiction of the New York Supreme Court, County of New York, and the United States District Court for the Southern District of New York in any such suit, action or proceeding. Each of the Placement Agent and the Company further agrees to accept and acknowledge service of any and all process which may be served in any such suit, action or proceeding in the New York Supreme Court, County of New York, or in the United States District Court for the Southern District of New York and agrees that service of process upon the Company mailed by certified mail to the Company’s address shall be deemed in every respect effective service of process upon the Company, in any such suit, action or proceeding, and service of process upon the Placement Agent mailed by certified mail to the Placement Agent’s address shall be deemed in every respect effective service process upon the Placement Agent, in any such suit, action or proceeding. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. 

 

 

 

 

 

SECTION 11.

ENTIRE AGREEMENT/MISC. This Agreement (including the attached Indemnification Provisions) embodies the entire agreement and understanding between the parties hereto, and supersedes all prior agreements and understandings, relating to the subject matter hereof. If any provision of this Agreement is determined to be invalid or unenforceable in any respect, such determination will not affect such provision in any other respect or any other provision of this Agreement, which will remain in full force and effect. This Agreement may not be amended or otherwise modified or waived except by an instrument in writing signed by both Maxim and the Company. The representations, warranties, agreements and covenants contained herein shall survive the Closing of the Placement and delivery and/or exercise of Securities. 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 or a .pdf format file, 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 or .pdf signature page were an original thereof. The Company agrees that the Placement Agent may rely upon, and is a third party beneficiary of, the representations and warranties, and applicable covenants set forth in any such purchase, subscription or other agreement with the Purchasers in the Placement. All amounts stated in this Agreement are in US dollars unless expressly stated.

 

SECTION 12.

NOTICES. Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and shall be deemed given and effective on the earliest of (a) the date of transmission, if such notice or communication is sent to the email address specified on the signature pages attached hereto prior to 6:30 p.m. (New York City time) on a business day, (b) the next business day after the date of transmission, if such notice or communication is sent to the email address on the signature pages attached hereto on a day that is not a business day or later than 6:30 p.m. (New York City time) on any business day, (c) the third business day following the date of mailing, if sent by U.S. internationally recognized air courier service, or (d) upon actual receipt by the party to whom such notice is required to be given. The address for such notices and communications shall be as set forth on the signature pages hereto.

 

[The remainder of this page has been intentionally left blank.]

 

 

 

 

 

Please confirm that the foregoing correctly sets forth our agreement by signing and returning to Maxim the enclosed copy of this Agreement.

 

	
 
	
Very truly yours,

	
 
	
 
	
 
	
 

	
 
	
MAXIM GROUP LLC

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 
	
By: 
	/s/ Clifford Teller  
	
 
	
 
	
Name:    
	Clifford Teller  
	
 
	
 
	
Title:
	Executive Managing Director, Investment Banking  
	
 
	
 
	
Date: 
	January 5, 2017
	
 
	
 
	
 
	
 

	
 
	
 
	
Address for notice:

	
 
	
 
	
405 Lexington Avenue

	
 
	
 
	
New York, NY 10174

	
 
	
 
	
Attention: James Siegel, General Counsel

	
 
	
 
	
Email: jsiegel@maximgrp.com

 

 

Accepted and Agreed to on

January 5, 2017, with an effective date 

of January 3, 2017

 

INTERPACE DIAGNOSTICS GROUP, INC.

 

 

	
By:    
	/s/ Jack E. Stover   
	
 
	
Name:    
	
Jack E. Stover 

	
 
	
Title:
	
President and Chief Executive Officer

	
 
	
 
	
 

	
 
	
Address for notice:

	
 
	
Morris Corporate Center 1, Building A
300 Interpace Parkway
Parsippany, NJ 07054

	
 
	
Email: jstover@interpacedx.com

 

 

[Signature Page to Placement Agency Agreement]

 

 

 

 

 

ADDENDUM A

 

INDEMNIFICATION PROVISIONS

 

In connection with the engagement of Maxim Group LLC (“Maxim”) by Interpace Diagnostics Group, Inc. (the “Company”) pursuant to a letter agreement effective as of January 3, 2017 between the Company and Maxim, as it may be amended from time to time in writing (the “Agreement”), the Company hereby agrees as follows:

 

	
1.
	
The Company hereby agrees to indemnify and hold Maxim, its officers, directors, principals, employees, affiliates, and stockholders, and their successors and assigns, harmless from and against any and all loss, claim, damage, liability, deficiencies, actions, suits, proceedings, costs and legal expenses or expense whatsoever (including, but not limited to, reasonable legal fees and other expenses and reasonable disbursements incurred in connection with investigating, preparing to defend or defending any action, suit or proceeding, including any inquiry or investigation, commenced or threatened, or any claim whatsoever, or in appearing or preparing for appearance as witness in any proceeding, including any pretrial proceeding such as a deposition) (collectively the “Losses”) arising out of, based upon, or in any way related or attributed to, (i) any breach of a representation, warranty or covenant by the Company contained in the Agreement; or (ii) any activities or services performed hereunder by Maxim related to the transaction referred to in the Agreement, unless it is finally judicially determined in a court of competent jurisdiction that such Losses were the primary and direct result of the willful misconduct, gross negligence or bad faith of Maxim in performing the services hereunder.

	 	 
	
2.
	
If Maxim receives written notice of the commencement of any legal action, suit or proceeding with respect to which the Company is or may be obligated to provide indemnification pursuant to this Section 2, Maxim shall, within twenty (20) days of the receipt of such written notice, give the Company written notice thereof (a “Claim Notice”). Failure to give such Claim Notice within such twenty (20) day period shall not constitute a waiver by Maxim of its right to indemnity hereunder with respect to such action, suit or proceeding; provided, however, the indemnification hereunder may be limited by any such failure to provide a Claim Notice to the Company that materially prejudices the Company. Upon receipt by the Company of a Claim Notice from Maxim with respect to any claim for indemnification which is based upon a claim made by a third party (“Third Party Claim”), the Company may assume the defense of the Third Party Claim with counsel of its own choosing, as described below. Maxim shall cooperate in the defense of the Third Party Claim and shall furnish such records, information and testimony and attend all such conferences, discovery proceedings, hearings, trials and appeals as may be reasonably required in connection therewith. Maxim shall have the right to employ its own counsel in any such action which shall be at the Company’s expense if (i) the Company and Maxim shall have mutually agreed in writing to the retention of such counsel, (ii) the Company shall have failed in a timely manner to assume the defense and employ counsel or experts reasonably satisfactory to Maxim in such litigation or proceeding or (iii) the named parties to any such litigation or proceeding (including any impleaded parties) include the Company and Maxim and representation of the Company and Maxim by the same counsel or experts would, in the reasonable opinion of Maxim, be inappropriate due to actual or potential differing interests between the Company and Maxim. The Company shall not satisfy or settle any Third Party Claim for which indemnification has been sought and is available hereunder, without the prior written consent of Maxim, which consent shall not be delayed and which consent shall not be required if Maxim is granted a release in connection therewith. The indemnification provisions hereunder shall survive the termination or expiration of this Agreement.

	 	 
	
3.
	
The Company further agrees, upon demand by Maxim, to promptly reimburse Maxim for, or pay, any loss, claim, damage, liability or expense as to which Maxim has been indemnified herein with such reimbursement to be made currently as any loss, damage, liability or expense is incurred by Maxim. Notwithstanding the provisions of the aforementioned Indemnification, any such reimbursement or payment by the Company of fees, expenses, or disbursements incurred by Maxim shall be repaid by Maxim in the event of any proceeding in which a final judgment (after all appeals or the expiration of time to appeal) is entered in a court of competent jurisdiction against Maxim based solely upon its gross negligence, bad faith or willful misconduct in the performance of its duties hereunder, and provided further, that the Company shall not be required to make reimbursement or payment for any settlement effected without the Company’s prior written consent (which consent shall not be unreasonably withheld or delayed).

	 	 
	
4.
	
If for any reason the foregoing indemnification is unavailable or is insufficient to hold such indemnified party harmless, the Company agrees to contribute the amount paid or payable by such indemnified party in such proportion as to reflect not only the relative benefits received by the Company, as the case may be, on the one hand, and Maxim, on the other hand, but also the relative fault of the Company and Maxim as well as any relevant equitable considerations. In no event shall Maxim contribute in excess of the fees actually received by it pursuant to the terms of this Agreement.

	 	 
	
5.
	
For purposes of this Agreement, each officer, director, stockholder, and employee or affiliate of Maxim and each person, if any, who controls Maxim (or any affiliate) within the meaning of either Section 15 of the Securities Act of 1933, as amended, or Section 20 of the Securities Exchange Act of 1934, as amended, shall have the same rights as Maxim with respect to matters of indemnification by the Company hereunder.

 

[signature page follows] 

 

 

 

 

 

	
 
	
MAXIM GROUP LLC

	
 
	
 
	
 
	
 

	
 
	
By: 
	
/s/ Clifford Teller 

	  	
 
	
Name:    
	Clifford Teller  
	
 
	
 
	
Title:
	Executive Managing Director, Investment Banking  
	
 
	
 
	
Date: 
	January 5, 2017 

 

 

Accepted and Agreed to on

January 5, 2017, with an effective date

of January 3, 2017

 

INTERPACE DIAGNOSTICS GROUP, INC.

 

 

	
By:    
	
/s/ Jack E. Stover 

	
 
	
Name:    
	
Jack E. Stover

	
 
	
Title:    
	
President and Chief Executive Officer

 

 

[Sig Page to Indemnification Provisions
Pursuant to Placement Agency Agreement]

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