Document:

Registration Rights Agreement

 Exhibit 10.7 
 AUTOGENOMICS, INC. 
 REGISTRATION RIGHTS AGREEMENT 
 This Registration Rights Agreement (this “Agreement”) is made as of this
19th day of July, 2006, by and among AutoGenomics, Inc., a California corporation (the “Company”), MESA Development Inc. of Nevada,
a Nevada corporation (“MESA Research”) and the purchasers of the Company’s Series C Convertible Preferred Stock (the “Series C Preferred”) executing and delivering a counterpart signature page to this Agreement
from time to time (together with Mesa Research, each individually, a “Purchaser” and collectively, the “Purchasers”). 
 R E C I T A L S 
 A. Pursuant to that certain Series C Convertible Preferred Stock Purchase
Agreement, of even date herewith (the “Purchase Agreement”), among the Company and the Purchasers, the Purchasers are purchasing shares of the Series C Preferred and, as additional consideration for the purchase of the shares of the
Series C Preferred, the Company is issuing to the Purchasers warrants (collectively, the “Warrants”) to purchase additional shares of the Series C Preferred (the shares of Series C Preferred issuable upon exercise of the Warrants,
the “Warrant Shares”). 
 B. It is a condition to the obligations of the Purchasers under the Purchase Agreement that this
Agreement be executed by the parties hereto, and the parties are willing to execute this Agreement and to be bound by the provisions hereof. 
 C. Capitalized terms not otherwise defined in this Agreement shall have the meanings assigned to them in the Purchase Agreement. 
 A G R E E M E N T 
 In consideration of the foregoing and the agreements set forth below, the parties agree with each
other, as follows: 
 1. DEFINITIONS. As used herein: 
 1.1 The term “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
 1.2 The term “Holder” means any person owning or having the right to acquire Registrable Securities or any assignee thereof in accordance with Section 2.10 hereof. 
 1.3 The terms “register,” “registered,” and “registration” refer to a registration effected by
preparing and filing a registration statement in compliance with the Securities Act (as defined below) and the applicable rules and regulations thereunder, and the declaration or ordering of the effectiveness of such registration statement.

 1.4 For the purposes hereof, the term “Registrable Securities” means and includes (i) the shares of Common
Stock of the Company issued or issuable upon conversion of the Series C Preferred, (ii) the shares of Common Stock of the Company issued or issuable upon conversion of the Warrant Shares, and (iii) any Common Stock of the Company
issued, or issuable upon the conversion 

 
or exercise of any warrant, right or other security which is issued, as a result of a stock split, dividend or other distribution with respect to or in
exchange for or in replacement of the shares referenced in (i) and (ii) above, excluding in all cases, however, any Registrable Securities (A) sold by a person in a transaction in which its rights under Section 2 are not
assigned, (B) sold to or through a broker or dealer or underwriter in a public distribution or a public securities transaction or otherwise sold in a transaction exempt from the registration and prospectus delivery requirements of the
Securities Act under Section 4(1) thereof so that all transfer restrictions, and restrictive legends with respect thereto, if any, are removed upon the consummation of such sale, or (C) held by a Holder who no longer is entitled to
exercise any right provided in Section 2 in accordance with Section 2.13 hereof. 
 1.5 The term
“Ownership Percentage” means and includes, with respect to each Holder of Registrable Securities requesting inclusion of Registrable Securities in an offering pursuant to this Agreement, the number of Registrable Securities held by
such Holder divided by the aggregate number of all Registrable Securities held by all Holders requesting registration in such offering. 
 1.6 The term “Public Offering” means and includes the closing of an underwritten public offering pursuant to an effective registration statement under the Securities Act, covering the offer and sale of securities to
the general public for the account of the Company. 
 1.7 The term “Securities Act” means the Securities Act of 1933,
as amended. 
 2. REGISTRATION RIGHTS. 
 2.1 “Piggy Back” Registration. If at any time the Company shall determine to register under the Securities Act (including pursuant to a demand of any shareholder of the Company exercising registration
rights other than pursuant to Section 2.2 or Section 2.3 hereof) any of its Common Stock in connection with the public offering of such securities solely for cash (other than a registration relating solely to (i) the
sale of securities to participants in a Company employee benefits plan, (ii) equity securities issuable upon conversion of debt securities or (iii) a registration relating solely to a Rule 145 transaction), it shall send to each
Holder written notice of such determination and, if within ten (10) days after receipt of such notice, such Holder shall so request in writing, the Company shall use its best efforts to include in such registration statement all or any part of
the Registrable Securities that such Holder requests to be registered, except that if, in connection with any offering involving an underwriting of Common Stock to be issued by the Company, the managing underwriter shall impose a limitation on the
number of shares of Common Stock included in any such registration statement because, in such underwriter’s judgment, such limitation is necessary based on market conditions, (a) if such offering is the initial Public Offering of the
Company’s securities solely for the Company’s own account, the Holders may be excluded entirely if the underwriters make the determination described above, and (b) if such offering is not the initial Public Offering of the
Company’s securities or if the underwriters otherwise do not entirely exclude the Registrable Securities from the registration, the Company shall be obligated to include in such registration statement, with respect to the requesting Holder,
only an amount of Registrable Securities equal to the product of (i) the number of Registrable Securities that remain available for registration after the underwriter’s cut back and (ii) such Holder’s Ownership Percentage;
provided, however, in either case, no Registrable Securities shall be reduced or excluded from any registration unless all other securities other than the Registrable Securities are first entirely excluded from such registration.

  

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 If any Holder disapproves of the terms of such underwriting, he may elect to withdraw therefrom by
written notice to the Company and the underwriter. No incidental right under this Section 2.1 shall be construed to limit any registration required under Section 2.2. 
 2.2 Required Registration. 
 (a) On
two (2) occasions after the date that is the earlier of (i) Monday, July 19, 2010, and (ii) one hundred eighty (180) days after the consummation of the initial Public Offering, Holders of at least a majority of the
Registrable Securities then outstanding may require the Company to register such Holders’ Registrable Securities under the Securities Act. Such Holders shall notify the Company in writing that it or they intend to offer or cause to be offered
for public sale of all or any portion of the Registrable Securities, and within ten (10) days of the receipt after such notice, the Company will so notify all Holders of Registrable Securities. 
 (b) Upon written request of any Holder given within thirty (30) days after the receipt by such Holder from the Company of such notification, the
Company will use its best efforts to cause all or any part of the Registrable Securities that may be requested by any Holder thereof (including the Holders giving the initial notice of intent to offer (each an “Initiating Holder”
and collectively the “Initiating Holders”)) to be registered under the Securities Act as expeditiously as possible; provided, however, that the Company shall not be obligated to effect any such registration pursuant to
this Section 2.2 unless the proposed aggregate dollar amount of the offering (valued at the high end of a proposed offering range) of the Registrable Securities requested to be included is at least $10,000,000. 
 (c) Notwithstanding anything contained in this Section 2.2 or Section 2.3 to the contrary, if the Company furnishes to the
Holders requesting any registration pursuant to such sections a certificate signed by the President of the Company stating that, in the good faith judgment of the Board of Directors of the Company, such registration would be detrimental to the
Company and that it is in the best interests of the Company to defer the filing of a registration statement, then the Company shall have the right to defer the filing of a registration statement with respect to such offering for a period of not more
than one hundred and eighty (180) days from receipt by the Company of the request by the Initiating Holder; provided, however, that the Company may not exercise such right more than once in any twelve-month period. 
 (d) If the Initiating Holders intend to distribute the Registrable Securities covered by their request by means of an underwriting, they shall so advise
the Company as part of their request and the Company shall include such information in the written notice referred to above. 
 (e) The
underwriter shall be selected by a majority in interest of the Initiating Holders and shall be reasonably acceptable to the Company. In such event, the right of any Holder to include his, her or its Registrable Securities in such registration shall
be conditioned upon such Holder’s participation in such underwriting and the inclusion of such Holder’s Registrable Securities in the underwriting to the extent provided herein. All Holders proposing to distribute their securities through
such underwriting shall enter into an underwriting agreement in customary form with the underwriters selected for such underwriting. 
 (f)
Notwithstanding the foregoing, if the managing underwriter shall impose a limitation on the number of shares of Common Stock included in any such registration statement because, in such underwriter’s judgment, such limitation is necessary based
on market 

  

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conditions, the Company shall be obligated to include in such registration statement, with respect to the Holders of Registrable Securities which would
otherwise be underwritten pursuant hereto, only an amount of Registrable Securities equal to the product of (i) the number of Registrable Securities that remain available for registration after the underwriter’s cut back and (ii) such
Holder’s Ownership Percentage; provided, however, that the number of Registrable Securities to be included in such underwriting shall not be reduced unless all other securities other than the Registrable Securities are first
entirely excluded from the underwriting. 
 (g) Notwithstanding the foregoing, the Company shall not be obligated to effect, or to take any
action to effect, any registration pursuant to this Section 2.2: (i) after the Company has effected two (2) registrations pursuant to this Section 2.2 and such registrations have been declared or ordered effective;
(ii) during the period ending on a date one hundred eighty (180) days after the consummation of the initial Public Offering; or (iii) if within thirty (30) days after receipt by the Company of the Holders’ initial notice of
intent to offer, the Company furnishes to such Holders requesting registration a certificate signed by the President of the Company stating the Company’s intent to file a registration statement for the initial Public Offering within the
following ninety (90) days. 
 2.3 Registration on Form S-3. At any time after the Company becomes eligible to register
Registrable Securities for resale on Form S-3, or any similar form subsequently adopted by the Securities and Exchange Commission (“SEC”) which permits incorporation of substantial information by reference to other documents filed
by the Company with the SEC (“Form S-3”), if the Company shall receive from one or more Holder or Holders of the Registrable Securities a written request or requests that the Company effect a registration on Form S-3 and any related
qualification or compliance with respect to all or a part of the Registrable Securities owned by such Holder or Holders, the Company will: 
 (a) promptly give written notice of the proposed registration, and any related qualification or compliance, to all other Holders; and 
 (b) as soon as practicable, effect such registration and all such qualifications and compliances as may be so requested and as would permit or facilitate the sale and distribution of all or such portion of such Holder’s or
Holders’ Registrable Securities as are specified in such request, together with all or such portion of the Registrable Securities of any other Holder or Holders joining in such request as are specified in a written request given within fifteen
(15) days after receipt of such written notice from the Company; provided, however, that the Company shall not be obligated to effect any such registration, qualification or compliance, pursuant to this Section 2.3:
(1) if Form S-3 is not available for such offering by the Holders; (2) if the Company furnishes to the Holders requesting any registration pursuant to this Section 2.3 a certificate signed by the President of the Company
stating that, in the good faith judgment of the Board of Directors of the Company, such Form S-3 registration would be detrimental to the Company and that it is in the best interests of the Company to defer the filing of such registration statement,
then the Company shall have the right to defer the filing of the Form S-3 registration statement with respect to such offering for a period of not more than ninety (90) days from receipt by the Company of the request by the Initiating Holder;
provided, however, that the Company may not exercise such right more than once in any twelve-month period; (3) if such Form S-3 registration statement covers an offering of less than $500,000 of Registrable Securities; (4) if
the Holders are otherwise eligible to sell their Registrable Securities under Rule 144 of the Securities Act; or (5) during the period ending on a date one hundred eighty (180) days after the effective date of a registration pursuant
to Section 2.2 hereof or this Section 2.3. 
  

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 (c) Subject to the foregoing, the Company shall file a registration statement covering the Registrable
Securities and other securities so requested to be registered as soon as practicable after receipt of the request or requests of the Holders. Registrations effected pursuant to this Section 2.3 shall not be counted as demands for
registration effected pursuant to Section 2.2. 
 2.4 Effectiveness. 
 (a) The Company will use its best efforts to maintain the effectiveness for at least ninety (90) days of any registration statement pursuant to
which any of the Registrable Securities are being offered or until the distribution described in such registration statement is completed, if earlier; provided, however, that: (i) such period shall be extended for a period of time
equal to the period the Holder refrains from selling any securities included in such registration at the request of an underwriter of Common Stock (or other securities) of the Company and (ii) in the case of any registration of Registrable
Securities on Form S-3 which are intended to be offered on a continuous or delayed basis, such period shall be extended, if necessary, to keep the registration statement effective until the earlier to occur of (A) one hundred and eighty
(180) days following the effectiveness of the registration statement, or (B) the date that all such Registrable Securities are sold, provided that Rule 415, or any successor rule under the Securities Act, permits an offering on a
continuous or delayed basis, and provided further that applicable rules under the Securities Act governing the obligation to file a post-effective amendment permit, in lieu of filing a post-effective amendment which (I) includes any prospectus
required by Section 10(a)(3) of the Securities Act or (II) reflects facts or events representing a material or fundamental change in the information set forth in the registration statement, the incorporation by reference of information
required to be included in (I) and (II) above to be contained in periodic reports filed pursuant to Section 13 or 15(d) of the Exchange Act in the registration statement. 
 (b) The Company will from time to time amend or supplement such registration statement and the prospectus contained therein as and to the extent
necessary to comply with the Securities Act and any applicable state securities statute or regulation. 
 2.5 Indemnification.

 (a) Indemnification of Holders. In the event that the Company registers any of the Registrable Securities under the Securities
Act, the Company will, to the extent permitted by law, indemnify and hold harmless each Holder, its legal counsel and independent accountants, and each of their officers, directors and partners, and each underwriter of the Registrable Securities so
registered (including any broker or dealer through whom such shares may be sold) and each person, if any, who controls such Holder or any such underwriter within the meaning of Section 15 of the Securities Act from and against any and all
losses, claims, damages, expenses or liabilities (or any action in respect thereof), joint or several, to which they or any of them become subject under the Securities Act or under any other statute or at common law or otherwise, and, except as
hereinafter provided, will reimburse each such Holder, each such underwriter and each such controlling person, if any, for any legal or other expenses reasonably incurred by them or any of them, as such expenses are incurred, in connection with
investigating or defending any actions whether or not resulting in any liability, insofar as such losses, claims, damages, expenses, liabilities or actions arise out of or 

  

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are based upon (i) any untrue statement or alleged untrue statement of a material fact contained in the registration statement, in any preliminary or
amended preliminary prospectus or in the prospectus (or the registration statement or prospectus as from time to time amended or supplemented by the Company); (ii) arise out of or are based upon the omission or alleged omission to state therein
a material fact required to be stated therein or necessary in order to make the statements therein not misleading; or (iii) any violation by the Company of the Securities Act, the Exchange Act, a state securities law or any rule or regulation
under the Securities Act, the Exchange Act or any state securities law; provided, however, that the indemnity contained in this Section 2.5(a) will not apply where such untrue statement or omission was made in such
registration statement, preliminary or amended, preliminary prospectus or prospectus in reliance upon and in conformity with information furnished in writing to the Company in connection therewith by such Holder of Registrable Securities, any such
underwriter or any such controlling person expressly for use therein. Promptly after receipt by any Holder of Registrable Securities, any underwriter or any controlling person of notice of the commencement of any action in respect of which indemnity
may be sought against the Company, such Holder of Registrable Securities, or such underwriter or such controlling person, as the case may be, will notify the Company in writing of the commencement thereof, and, subject to the provisions hereinafter
stated, the Company shall assume the defense of such action (including the employment of counsel, who shall be counsel reasonably satisfactory to such Holder of Registrable Securities, such underwriter or such controlling person, as the case may
be), and the payment of expenses insofar as such action shall relate to any alleged liability in respect of which indemnity may be sought against the Company. Such Holder of Registrable Securities, any such underwriter or any such controlling person
shall have the right to employ separate counsel in any such action and to participate in the defense thereof in the event the representation of such Holder, underwriter or controlling person by counsel retained by or on the behalf of the Company
would be inappropriate due to conflicts of interest between any such person and any other party represented by such counsel in such proceeding or action, in which case the Company shall pay, as incurred, the fees and expenses of one (1) such
separate counsel. The Company shall not be liable to indemnify any person under this Section 2.5(a) for any settlement of any such action effected without the Company’s consent (which consent shall not be unreasonably withheld). The
Company shall not, except with the approval of each party being indemnified under this Section 2.5(a) (which approval will not be unreasonably withheld), 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 the parties being so indemnified of a release from all liability in respect to such claim or litigation. 
 (b) Indemnification of Company. In the event that the Company registers any of the Registrable Securities under the Securities Act, each Holder
of the Registrable Securities so registered will, to the extent permitted by law, indemnify and hold harmless the Company, each of its directors, each of its officers who have signed the registration statement, each underwriter of the Registrable
Securities so registered (including any broker or dealer through whom any of such shares may be sold), and each person, if any, who controls the Company, within the meaning of Section 15 of the Securities Act from and against any and all
losses, claims, damages, expenses or liabilities (or any action in respect thereof), joint or several, to which they or any of them may become subject under the Securities Act or under any other statute or at common law or otherwise, and, except as
hereinafter provided, will reimburse the Company and each such director, officer, underwriter or controlling person for any legal or other expenses reasonably incurred by them or any of them, as such expenses are incurred, in connection with
investigating or defending any actions whether or not resulting in any liability, insofar as such losses, claims, damages, expenses, liabilities or actions arise out of or are based upon any untrue statement or alleged untrue statement of a material
fact contained in the registration statement, in any preliminary or amended preliminary prospectus or in the 

  

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prospectus (or the registration statement or prospectus as from time to time amended or supplemented) or arise out of or are based upon the omission or
alleged omission to state therein a material fact required to be stated therein or necessary in order to make the statements therein not misleading, but only insofar as any such statement or omission was made in reliance upon and in conformity with
information furnished in writing to the Company in connection therewith by such Holder, expressly for use therein; provided, however, that such Holder’s obligations hereunder shall be limited to an amount equal to the proceeds to
such Holder of the Registrable Securities sold in such registration, except in the case of fraud by such Holder. Promptly after receipt of notice of the commencement of any action in respect of which indemnity may be sought against such Holder of
Registrable Securities, the Company will notify such Holder of Registrable Securities in writing of the commencement thereof, and such Holder of Registrable Securities shall, subject to the provisions hereinafter stated, assume the defense of such
action (including the employment of counsel, who shall be counsel satisfactory to the Company) and the payment of expenses insofar as such action shall relate to the alleged liability in respect of which indemnity may be sought against such Holder
of Registrable Securities. The Company and each such director, officer, underwriter or controlling person shall have the right to employ separate counsel in any such action and to participate in the defense thereof in the event the representation of
the Company, any of its officers or directors or any underwriter or controlling person by counsel retained by or on the behalf of such Holder would be inappropriate due to conflicts of interest between any such person and any other party represented
by such counsel in such proceeding or action, in which case such Holder shall pay, as incurred, the fees and expenses of one (1) such separate counsel. Notwithstanding the two preceding sentences, if the action is one in which the Company may
be obligated to indemnify any Holder of Registrable Securities pursuant to Section 2.5(a), the Company shall have the right to assume the defense of such action, subject to the right of such holders to participate therein as permitted by
Section 2.5(a). Such Holder shall not be liable to indemnify any person for any settlement of any such action effected without such Holder’s consent (which consent shall not be unreasonably withheld). Such Holder shall not, except
with the approval of the Company (which approval shall not be unreasonably withheld), 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 the
party being so indemnified of a release from all liability in respect to such claim or litigation. 
 (c) The obligations of the Company and
the Holders under this Section 2.5 shall survive the completion of any offering of Registrable Securities in a registration statement under this Agreement, and otherwise. 
 2.6 Contribution. If the indemnification provided for in Section 2.5 is held by a court of competent jurisdiction to be unavailable to
an indemnified party with respect to any loss, liability, claim, damage, or expense referred to therein, then the indemnifying party, in lieu of indemnifying such indemnified party hereunder, shall contribute to the amount paid or payable by such
indemnified party as a result of such loss, liability, claim, damage, or expense in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and of the indemnified party on the other in connection
with the statements or omissions that resulted in such loss, liability, claim, damage, or expense as well as any other relevant equitable considerations. The relative fault of the indemnifying party and of the indemnified party shall be determined
by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission to state a material fact relates to information supplied by the indemnifying party or by the indemnified party and the
parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent such statement or omission. Notwithstanding the provisions of Section 2.5 hereof or this Section 2.6, to the extent that
the provisions on indemnification and 

  

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contribution contained in the underwriting agreement entered into in connection with the underwritten public offering are in conflict with the foregoing
provisions, the provisions in the underwriting agreement shall control. 
 2.7 Exchange Act Registration. With a view to making
available to the Holders the benefits of Rule 144 promulgated under the Securities Act and any other rule or regulation of the SEC that may at any time permit a Holder to sell securities of the Company to the public without registration or
pursuant to a registration on Form S-3, the Company agrees to: 
 (a) use its best efforts to make and keep public information available, as
those terms are understood and defined in SEC Rule 144, at all times after ninety (90) days after the effective date of the first registration statement filed by the Company for the offering of its securities to the general public;

 (b) take such reasonable action, including the voluntary registration of its Common Stock under Section 12 of the Exchange Act, as
is necessary to enable the Holders to utilize Form S-3 for the sale of their Registrable Securities, such action to be taken as soon as practicable after the end of the fiscal year in which the first registration statement filed by the Company for
the offering of its securities to the general public is declared effective; 
 (c) file on a timely basis with the SEC all information that
the SEC may require under either of Section 13 or Section 15(d) of the Exchange Act and, so long as it is required to file such information, take all action that may be required as a condition to the availability of Rule 144 under the
Securities Act (or any successor exemptive rule hereinafter in effect) with respect to the Company’s Common Stock; and 
 (d) furnish
to any Holder forthwith upon request (i) a written statement by the Company as to its compliance with the reporting requirements of Rule 144, (ii) a copy of the most recent annual or quarterly report of the Company as filed with the
SEC, and (iii) any other reports and documents that a Holder may reasonably request in availing itself of any rule or regulation of the SEC allowing a Holder to sell any such Registrable Securities without registration. 
 2.8 Further Obligations of the Company. Whenever the Company is required hereunder to register Registrable Securities, it agrees that it shall
also do the following: 
 (a) furnish to each selling Holder such copies of each preliminary and final prospectus and any other documents
that such Holder may reasonably request to facilitate the public offering of its Registrable Securities; 
 (b) use its best efforts to
register or qualify the Registrable Securities to be registered pursuant to this Agreement under the applicable securities or “blue sky” laws of such jurisdictions as any selling Holder may reasonably request; provided,
however, that the Company shall not be obligated to qualify to do business in any jurisdiction where it is not then so qualified or to take any action that would subject it to the service of process in suits other than those arising out of
the offer or sale of the securities covered by the registration statement in any jurisdiction where it is not then so subject; 
 (c) notify
each Holder of Registrable Securities covered by such registration statement at any time when a prospectus relating thereto is required to be delivered under 

  

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the Securities Act of the happening of any event as a result of which the prospectus included in such registration statement, as then in effect, includes an
untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing; 
 (d) cause all such Registrable Securities registered pursuant hereunder to be listed on each securities exchange on which similar securities issued by
the Company are then listed; 
 (e) provide a transfer agent and registrar for all Registrable Securities registered pursuant hereunder and
a CUSIP number for all such Registrable Securities, in each case not later than the effective date of such registration; 
 (f) in the event
of any underwritten public offering, enter into and perform its obligations under an underwriting agreement, in usual and customary form, with the managing underwriter of such offering. Each Holder participating in such underwriting shall also enter
into and perform its obligations under such an agreement; 
 (g) furnish, at the request of any Holder requesting registration of
Registrable Securities pursuant to this Section 2, on the date that such Registrable Securities are delivered to the underwriters for sale in connection with a registration pursuant to this Section 2, if such securities are
being sold through underwriters, or, if such securities are not being sold through underwriters, on the date that the registration statement with respect to such securities becomes effective: 
 (i) an opinion, dated such date, of the counsel representing the Company for the purposes of such registration, in form and substance as is customarily
given to underwriters in an underwritten public offering, addressed to the underwriters, if any, and to the Holders requesting registration of Registrable Securities; and 
 (ii) “comfort” letters signed by the Company’s independent public accountants who have examined and reported on the Company’s
financial statements included in the registration statement, to the extent permitted by the standards of the American Institute of Certified Public Accountants, covering substantially the same matters with respect to the registration statement (and
the prospectus included therein) and (in the case of the accountants’ “comfort” letters) with respect to events subsequent to the date of the financial statements, as are customarily covered in opinions of issuer’s counsel and in
accountants’ “comfort” letters delivered to the underwriters in underwritten public offerings of securities, but only if and to the extent that the Company is required to deliver or cause the delivery of such opinion or
“comfort” letters to the underwriters in an underwritten public offering of securities; 
 (h) permit each selling Holder or his,
her or its counsel or other representatives to inspect and copy such corporate documents and records as may reasonably be requested by them for a bona fide purpose in connection with this Agreement; and 
 (i) furnish to each selling Holder, upon request, a copy of all documents filed and all correspondence from or to the SEC in connection with any such
offering unless confidential treatment of such information has been requested of the SEC. 
  

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 2.9 Expenses. In the case of a registration under Sections 2.1, 2.2 or 2.3 the Company
shall bear all costs and expenses of each such registration, including, but not limited to, printing, legal and accounting expenses, SEC filing fees and “blue sky” fees and expenses; provided, however, that the Company shall
have no obligation to pay or otherwise bear any portion of the underwriter’s commissions or discounts attributable to the Registrable Securities being offered and sold by the Holders of Registrable Securities. 
 2.10 Transfer of Registration Rights. The registration rights of a Holder of Registrable Securities under this Agreement may be transferred (but
only with all related obligations) to a transferee or assignee which receives at least twenty percent (20%) of the Registrable Securities then held by the Holder, provided that, such transfer or assignment shall be effective only if the
transferee agrees to be bound by this Agreement, such transfer or assignment satisfies the transfer requirements set forth in the Investors’ Rights Agreement (as defined in Section 2.3 of the Purchase Agreement) and complies with federal
and state securities laws, and that the Company is, within a reasonable time after such transfer, furnished with written notice of the name and address of such transferee or assignee and the securities with respect to which such registration rights
are being transferred. 
 2.11 No Superior Rights. The Company will not grant registration rights to any person or entity that are
superior to the rights granted hereunder without first obtaining the prior written consent of the Holders of at least a majority of then outstanding Registrable Securities; provided, however, that this restriction shall not apply to a grant of
registration rights to investors in connection with a private offering of the Company’s securities in which the Company receives gross proceeds of at least $20 million. 
 2.12 Market Stand-Off Agreement. Provided that all Holders are treated equally and all officers and directors of the Company are also so bound, no
Holder shall, to the extent requested by any managing underwriter of the Company, sell or otherwise transfer or dispose of (other than to donees who agree to be similarly bound) any Registrable Securities during a period (the “Stand-Off
Period”) not to exceed 180 days following the effective date of a registration statement under the Securities Act, (or in each case such shorter period as the Company or managing underwriter may authorize), and except in each case, for
securities sold as part of the offering covered by such registration statement in accordance with the provisions of this Agreement, and further agrees to execute an agreement reflecting the foregoing as may be requested by the underwriters at the
time of such Public Offering. In order to enforce the foregoing covenant, the Company may impose stock transfer restrictions with respect to the Registrable Securities of each Holder until the end of the Stand-Off Period. Each Holder agrees that it
will not transfer securities of the Company unless such transferee agrees in writing to be bound by the provisions of this Section 2.12. 
 Notwithstanding the foregoing, the obligations described in this Section 2.12 shall not apply to a registration relating solely to employee benefit plans on Form S-1 or Form S-8 or similar forms which may
be promulgated in the future, or a registration relating solely to an SEC Rule 145 transaction on Form S-4 or similar forms which may be promulgated in the future. 
 2.13 Termination of Registration Rights. The obligations of the Company to register any Holder’s Registrable Securities pursuant to this Section 2 shall terminate if all of a Holder’s
Registrable Securities may be sold under Rule 144 during any ninety (90) day period. 
  

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 3. MISCELLANEOUS. 
 3.1 Governing Law. This Agreement shall be governed by and construed under the laws of the State of California as applied to agreements among California residents, made and to be performed entirely within the
State of California. 
 3.2 Successors and Assigns. Except as otherwise expressly provided herein, the provisions hereof shall inure
to the benefit of, and be binding upon, the successors, assigns, heirs, executors, and administrators of the parties hereto. 
 3.3 Entire
Agreement. This Agreement, the Purchase Agreement and the exhibits and other documents delivered pursuant to the Purchase Agreement, constitute the full and entire understanding and agreement among the parties with regard to the subjects hereof
and no party shall be liable or bound to any other party in any manner by any representations, warranties, covenants, or agreements except as specifically set forth herein or therein. Nothing in this Agreement, express or implied, is intended to
confer upon any party, other than the parties hereto and their respective successors and assigns, any rights, remedies, obligations, or liabilities under or by reason of this Agreement, except as expressly provided herein. 
 3.4 Severability. Any invalidity, illegality, or limitation of the enforceability of any one or more of the provisions of this Agreement, or any
part thereof, shall in no way affect or impair the validity, legality, or enforceability of this Agreement with respect to any other term or provision. In case any provision of this Agreement shall be invalid, illegal, or unenforceable, it shall, to
the extent practicable, be modified so as to make it valid, legal and enforceable and to retain as nearly as practicable the intent of the parties, and the validity, legality, and enforceability of the remaining provisions shall not in any way be
affected or impaired thereby. 
 3.5 Amendment and Waiver. Any term of this Agreement may be amended and the observance of any term of
this Agreement may be waived with the written consent of the Company and the Holders of not less than a majority of then outstanding Registrable Securities; provided, however, that no such amendment or waiver shall reduce the aforesaid
percentage requirement without the consent of the Holders of all of such Registrable Securities. Any amendment or waiver effected in accordance with this paragraph shall be binding upon all of the parties hereto and their then existing and future
successors and assigns. Upon the effectuation of each such amendment or waiver, the Company shall promptly give written notice thereof to the record holders of any Registrable Securities of the Company who have not previously consented thereto in
writing. 
 3.6 Delays or Omissions. No delay or omission to exercise any right, power, or remedy accruing to the Holders of
Registrable Securities upon any breach, default or noncompliance of the Company under this Agreement shall impair any such right, power, or remedy, nor shall it be construed to be a waiver of any such breach, default or noncompliance, or any
acquiescence therein, or of any similar breach, default or noncompliance thereafter occurring. It is further agreed that any waiver, permit, consent, or approval of any kind or character on the Holders’ part of any breach, default or
noncompliance under this Agreement, or any waiver on the Holders’ part of any provisions or conditions of this Agreement, must be in writing and shall be effective only to the extent specifically set forth in such writing, and that all remedies
under this Agreement, under law, or otherwise afforded to the Holders, shall be cumulative and not alternative. 
  

 11 

 3.7 Notices, etc. All notices and other communications required or permitted hereunder shall be in
writing and shall be deemed effectively given upon personal delivery, upon confirmed facsimile transmission, on the next business day following mailing by professional overnight courier service or on the third day following mailing by registered or
certified mail, return receipt requested, postage prepaid, addressed as follows: 
  

	 	(a)	if to a Purchaser, at such Purchaser’s address as set forth on such Purchaser’s counterpart signature page hereto; 

  

	 	(b)	if to the Company, at 

 AutoGenomics, Inc. 
 2251 Rutherford Road 
 Carlsbad, CA 92008

 Attention: Fareed Kureshy, President & CEO 
 Facsimile: (760) 804-7382 
 with a copy to 
 Bingham McCutchen LLP 
 600 Anton Boulevard, 18th Floor 
 Costa Mesa, CA 92626 
 Attention: James W. Loss, Esq. 
 Facsimile: (714) 830-0726 
 (c) Any party may at any time change the address to which notice to such party shall be mailed by giving notice of such change to all of the other
parties pursuant to this Section 3.7. 
 3.8 Attorneys’ Fees. If any action at law or in equity is necessary to
enforce or interpret the terms of this Agreement, the prevailing party shall be entitled to reasonable attorneys’ fees, costs and necessary disbursements in addition to any other relief to which such party may be entitled as determined by such
court or proceeding. 
 3.9 Titles and Subtitles. The titles of the paragraphs and subparagraphs of this Agreement are for convenience
of reference only and are not to be considered in construing this Agreement. 
 3.10 Counterparts. This Agreement may be executed in
any number of counterparts, each of which shall be deemed an original, but all of which together shall constitute one instrument. 
 [remainder of this page intentionally left blank] 
  

 12Warrant to Purchase Common Stock issued to Imperial Bank

 Exhibit 4.5 
 THIS WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT OR PURSUANT
TO RULE 144 OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY AND ITS COUNSEL THAT SUCH REGISTRATION IS NOT REQUIRED. 
 WARRANT
TO PURCHASE SHARES OF COMMON STOCK 
  

			
	Company:	    	Macro Holding, Inc., a Delaware corporation
	Number of Shares:	    	18,750
	Class of Security:	    	Common Stock
	Initial Exercise Price:	    	$7.36 per share
	Issue Date:	    	September 21, 2001
	Expiration Date:	    	September 21, 2008 (Subject to Article 4.1)

 THIS WARRANT CERTIFIES THAT, in consideration of the payment of $1.00 and for other good and
valuable consideration, IMPERIAL BANK or its assignee (“Holder”) is entitled to purchase the number of fully paid and nonassessable Shares of the class of securities (the “Shares”) of Macro Holding, Inc. (the “Company”)
at the initial exercise price per Share (the “Warrant Price”) all as set forth above and as adjusted pursuant to Article 2 of this warrant, subject to the provisions and upon the terms and conditions set forth in this warrant. 

ARTICLE 1. EXERCISE. 
 1.1 Method of
Exercise. Holder may exercise this warrant by delivering this warrant and a duly executed Notice of Exercise in substantially the form attached as Appendix 1 to the principal office of the Company. Unless Holder is exercising the conversion
right set forth in Section 1.2, Holder shall also deliver to the Company a check for the aggregate Warrant Price for the Shares being purchased. 
 1.2 Conversion Right. In lieu of exercising this warrant as specified in Section 1.1, Holder may from time to time convert this warrant, in whole or in part, into a number of Shares determined by dividing
(a) the aggregate fair market value of the Shares or other securities otherwise issuable upon exercise of this warrant minus the aggregate Warrant Price of such Shares by (b) the fair market value of one Share. The fair market value of the
Shares shall be determined pursuant to Section 1.4 
 1.3 [Intentionally Deleted] 
 1.4 Fair Market Value. If the Shares are traded regularly in a public market, the fair market value of the Shares shall be the closing price of
the Shares (or the closing price of the Company’s security into which the Shares are convertible) reported for the business day immediately before Holder delivers its Notice of Exercise to the Company. If the Shares are not regularly traded in
a public market, the Board of Directors of the Company shall determine fair market value in its reasonable good faith judgment. The foregoing notwithstanding, if Holder advises the Board of Directors in writing that Holder disagrees with such
determination, then the Company and Holder shall promptly agree upon a reputable investment banking firm to undertake such valuation. If the valuation of such investment banking firm is greater than that determined by the Board of Directors, then
all fees and expenses of such investment banking firm shall be paid by the Company. In all other circumstances, such fees and expenses shall be paid by Holder. 

 1.5 Delivery of Shares and New Warrant. Promptly after Holder exercises or converts this warrant,
the Company shall deliver to Holder a stock certificate representing the number of Shares purchased and, if this warrant has not been fully exercised or converted and has expired, a new warrant representing the right to purchase the Shares not so
acquired. 
 1.6 Replacement of Warrants. On receipt of evidence reasonably satisfactory to the Company of the loss, theft,
destruction or mutilation of this warrant and, in the case of loss, theft or destruction, on delivery of an indemnity agreement reasonably satisfactory in form and amount to the Company or, in the case of mutilation, on surrender and cancellation of
this warrant, the Company at its expense shall execute and deliver, in lieu of this warrant, a new warrant of like tenor. 
 1.7
Repurchase on Sale, Merger, or Consolidation of the Company. 
 1.7.1 “Acquisition.” For the purpose of this warrant,
“Acquisition” means any sale, license, or other disposition of all or substantially all of the assets (including intellectual property) of the Company to an unaffiliated third party (provided however, if there’s an Acquisition to an
affiliated third party, the affiliated third party shall assume this warrant on the existing terms and conditions), or any reorganization, consolidation, or merger of the Company where the holders of the Company’s securities before the
transaction beneficially own less than 50% of the outstanding voting securities of the surviving entity or its parent after the transaction. 
 1.7.2 Assumption of Warrant. If upon the closing of any Acquisition the successor entity assumes the obligations of this warrant, then this warrant shall be exercisable for the same securities, cash, and property as would be payable
for the Shares issuable upon exercise of the unexercised portion of this warrant as if such Shares were outstanding on the record date for the Acquisition and subsequent closing. The Warrant Price shall be adjusted accordingly. The Company shall use
reasonable efforts to cause the surviving corporation to assume the obligations of this warrant. 
 1.7.3 Nonassumption. If upon the
closing of any Acquisition the successor entity does not assume the obligations of this warrant and Holder has not otherwise exercised this warrant in full, then Holder shall have the option to deem this warrant to have been automatically converted
pursuant to Section 1.2 and thereafter Holder shall participate in the Acquisition on the same terms as other holders of the same class of securities of the Company. 
 ARTICLE 2. ADJUSTMENTS TO THE SHARES. 
 2.1 Splits, Etc. If the Company declares or pays a
dividend on its Shares payable in Shares, or other securities, or subdivides the outstanding Shares into a greater amount of Shares, then upon exercise of this warrant, for each Share acquired, Holder shall receive, without cost to Holder, the total
number and kind of securities to which Holder would have been entitled had Holder owned the Shares of record as of the date the dividend or subdivision occurred. 
 2.2 Reclassification, Exchange or Substitution. Upon any reclassification, exchange, substitution, or other event that results in a change of the number and/or class of the securities issuable upon exercise or
conversion of this warrant, Holder shall be entitled to receive, upon exercise or conversion of this warrant, the number and kind of securities and property that Holder would have received for the Shares if this warrant had been exercised
immediately before such reclassification, exchange, substitution, or other event. The Company or its successor shall promptly issue to Holder a new warrant for such new securities or other property. The new warrant shall provide for adjustments
which shall be as nearly equivalent as may be practicable to the adjustments provided for in this Article 2 including, without limitation, adjustments to the Warrant Price and to the number of securities or property issuable upon exercise of the new
warrant. The provisions of this Section 2.2 shall similarly apply to successive reclassifications, exchanges, substitutions, or other events. 

 2.3 Adjustments for Combinations, Etc. If the outstanding Shares are combined or consolidated, by
reclassification or otherwise, into a lesser number of Shares, the Warrant Price shall be proportionately increased and the number of Shares subject to purchase under this warrant shall be proportionately decreased. 
 2.4 Adjustments for Diluting Issuances. The Warrant Price and the number of Shares issuable upon exercise of this warrant shall be subject to
adjustment, from time to time, in the manner set forth on Exhibit A, if attached, in the event of Diluting Issuances (as defined on Exhibit A). 
 2.5 No Impairment. The Company shall not, by amendment of its Certificate of Incorporation or through a reorganization, transfer of assets, consolidation, merger, dissolution, issue, or sale of securities or
any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms to be observed or performed under this warrant by the Company, but shall at all times in good faith assist in carrying out all the provisions of
this Article 2 and in taking all such action as may be necessary or appropriate to protect Holder’s rights under this Article against impairment. If the Company takes any action affecting the Shares other than as described above (other than
actions in the ordinary course of business) that adversely affects Holder’s rights under this warrant, the Warrant Price shall be adjusted downward and the number of Shares issuable upon exercise of this warrant shall be adjusted upward in such
a manner that the aggregate Warrant Price of this warrant is unchanged. 
 2.6 Certificate as to Adjustments. Upon each adjustment of
the Warrant Price, the Company at its expense shall promptly compute such adjustment, and furnish Holder with a certificate of its Chief Financial Officer setting forth such adjustment and the facts upon which such adjustment is based. The Company
shall, upon written request, furnish Holder a certificate setting forth the Warrant Price in effect upon the date thereof and the series of adjustments leading to such Warrant Price. 
 ARTICLE 3. REPRESENTATIONS AND COVENANTS OF THE COMPANY. 
 3.1 Representations and Warranties.
The Company hereby represents and warrants to the Holder as follows: 
 (a) The initial Warrant Price referenced on the first page of this
warrant is not greater than the fair market value of the partnership units in the Borrower on the date of its last equity round. 
 (b) All
Shares which may be issued upon the exercise of the purchase right represented by this warrant, and all securities, if any, issuable upon conversion of the Shares, shall, upon issuance, be duly authorized, validly issued, fully paid and
nonassessable, and free of any liens and encumbrances except for restrictions on transfer provided for herein or under applicable federal and state securities laws. 
 (c) The Company’s capitalization table attached to this warrant is true and complete as of the Issue Date. 
 (d) Upon exercise of this warrant, Holder will become the owner of the Shares with all the rights and obligations of a common shareholder of the Company. 
 3.2 Notice of Certain Events. If the Company proposes at any time (a) to declare any dividend or distribution upon its Shares, whether in cash, property, Shares, or other securities and whether 

 
or not a regular cash dividend; (b) to offer for subscription pro rata to the holders of any class or series of its Shares any additional Shares of any
class or series or other rights; (c) to effect any reclassification or recapitalization of Shares; or (d) to merge or consolidate with or into any other corporation, or sell, lease, license, or convey all or substantially all of its
assets, or to liquidate, dissolve or wind up, then, in connection with each such event, the Company shall give Holder (1) at least 20 days prior written notice of the date on which a record will be taken for such dividend, distribution, or
subscription rights (and specifying the date on which the holders of Shares will be entitled thereto) or for determining rights to vote, if any, in respect of the matters referred to in (a) and (b) above; and (2) in the case of the
matters referred to in (c) and (d) above at least 20 days prior written notice of the date when the same will take place (and specifying the date on which the holders of Shares will be entitled to exchange their Shares for securities or
other property deliverable upon the occurrence of such event). 
 3.3 Information Rights. So long as the Holder holds this warrant
and/or any of the Shares, the Company shall deliver to the Holder (a) promptly after mailing, copies of all communiques to the shareholders of the Company, (b) within one hundred twenty (120) days after the end of each fiscal year of
the Company, the annual audited financial statements of the Company certified by independent public accountants of recognized standing. 
 ARTICLE 4.
MISCELLANEOUS. 
 4.1 Term: Notice of Expiration. This warrant is exercisable in whole or in part, at any time and from time to
time on or before the Expiration Date set forth above; provided, however, that if the Company completes an initial public offering within the three-year period immediately prior to the Expiration Date, the Expiration Date shall automatically be
extended until the third anniversary of the effective date of the Company’s initial public offering. If this warrant has not been exercised prior to the Expiration Date, this warrant shall be deemed to have been automatically exercised on the
Expiration Date by “cashless” conversion pursuant to Section 1.2. 
 4.2 Legends. This warrant shall be imprinted with a
legend in substantially the following form: 
 THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD,
PLEDGED OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT OR PURSUANT TO RULE 144 OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY AND ITS COUNSEL THAT SUCH REGISTRATION IS NOT REQUIRED. 
 4.3 Compliance with Securities Laws on Transfer. This warrant and the Shares issuable upon exercise of this warrant (and the securities issuable,
directly or indirectly, upon conversion of the Shares, if any) may not be transferred or assigned in whole or in part without compliance with applicable federal and state securities laws by the transferor and the transferee (including, without
limitation, the delivery of investment representation letters and legal opinions reasonably satisfactory to the Company). The Company shall not require Holder to provide an opinion of counsel if the transfer is to an affiliate of Holder or if there
is no material question as to the availability of current information as referenced in Rule 144(c), Holder represents that it has complied with Rule 144(d) and (e) in reasonable detail, the selling broker represents that it has complied with
Rule 144(f), and the Company is provided with a copy of Holder’s notice of proposed sale. 

 4.4 Transfer Procedure. Subject to the provisions of Section 4.3, Holder may transfer all or part
of this warrant or the Shares issuable upon exercise of this warrant (or the securities issuable, directly or indirectly, upon conversion of the Shares, if any) by giving the Company notice of the portion of the warrant being transferred setting
forth the name, address and taxpayer identification number of the transferee and surrendering this warrant to the Company for reissuance to the transferee(s) (and Holder, if applicable); provided, however, that Holder may transfer all or part
of this warrant to its affiliates, including, without limitation, Comerica Incorporated, at any time without notice to the Company, and such affiliate shall then be entitled to all the rights of Holder under this warrant and any related agreements,
and the Company shall cooperate fully in ensuring that any Shares issued upon exercise of this warrant are issued in the name of the affiliate that exercises the warrant. The terms and conditions of this warrant shall inure to the benefit of, and be
binding upon, the Company and the holders hereof and their respective permitted successors and assigns. Unless the Company is filing financial information with the SEC pursuant to the Securities Exchange Act of 1934, the Company shall have the right
to refuse to transfer any portion of this warrant to any person who directly or indirectly competes with the Company. 
 4.5 Notices.
All notices and other communications from the Company to the Holder, or vice versa, shall be deemed delivered and effective when given personally or mailed by first-class registered or certified mail, postage prepaid, at such address as may have
been furnished to the Company or the Holder, as the case may be, in writing by the Company or such Holder from time to time. All notices to the Holder shall be addressed as follows: 
  

	
	Imperial Bank
	Attn: Warrant Administrator
	Technology and Life Sciences Division
	P.O. Box 7279
	San Francisco, CA 94120-7279

 4.6 Waiver. This warrant and any term hereof may be changed, waived, discharged or
terminated only by an instrument in writing signed by the party against which enforcement of such change, waiver, discharge or termination is sought. 
 4.7 Attorneys’ Fees. In the event of any dispute between the parties concerning the terms and provisions of this warrant, the party prevailing in such dispute shall be entitled to collect from the other
party all costs incurred in such dispute, including reasonable attorneys’ fees. 
 4.8 Governing Law. This warrant shall be
governed by and construed in accordance with the laws of the State of California, without giving effect to its principles regarding conflicts of law. 
 4.9 Market Standoff Agreement. In connection with the initial public offering of the Company’s securities and upon request of the Company or the underwriters managing such offering of the Company’s
securities, by accepting this Warrant, the Holder (and its affiliates) agrees not to sell, make any short sale of, loan, grant any option for the purchase of, or otherwise dispose of this Warrant and/or the Shares (other than those included in the
registration) other than to its affiliates, without the prior written consent of the Company or such underwriters, as the case may be, for such period of time (not to exceed 180 days) from the effective date of such registration as may be requested
by the Company or such managing underwriters and to execute an agreement reflecting the foregoing as may be requested by the underwriters at the time of the Company’s initial public offering; provided however, that all stockholders of
the Company holding at least as many shares of the Company’s capital stock as may be obtained upon exercise of this Warrant shall have also signed such a market standoff agreement. 

			
	MACRO HOLDING, INC.
		
	By:	 	 /s/ Morris Miller

	Name:	 	Morris Miller
	Title:	 	President
		
	By:	 	 /s/ Graham Weston

	Name:	 	Graham Weston
	Title:	 	CEO

 Authorized signatories under Corporate Resolutions to Borrow or an authorized signer(s) under a resolution
covering warrants must sign the warrant. 

 APPENDIX 1 
 NOTICE OF EXERCISE 
 1. The undersigned hereby elects to purchase
                     Shares of common stock of Macro Holding, Inc. pursuant to the terms of the attached warrant, and tenders herewith payment
of the purchase price of such Shares in full. 
 1. The undersigned hereby elects to convert the attached warrant into Shares in the manner
specified in the warrant. This conversion is exercised with respect to                      of the Shares covered by the warrant. 

[Strike paragraph that does not apply.] 
 2. The undersigned represents it is acquiring the Shares solely for its own account and not as a nominee for any other party and not with a view toward the resale or distribution thereof except in compliance with applicable securities laws.

  

	
	IMPERIAL BANK or Registered Assignee
	
	  

	(Signature)
	
	  

	(Date)

 EXHIBIT A 
 IMPERIAL BANK 
 ANTI-DILUTION AGREEMENT 
 This Anti-dilution Agreement is entered into as of September 21, 2001, by and between Imperial Bank (“Purchaser”) and Macro Holdings, Inc.
(“the Company”). 
 RECITALS 
 A. Concurrently with the execution of this Anti-dilution Agreement, the Purchaser is acquiring from the Company a Warrant to Purchase Shares of Common Stock (the “Warrant”) pursuant to which Purchaser has
the right to acquire from the Company Shares of the Company’s Common Stock (the “Shares”). 
 B. By this Anti-dilution
Agreement, the Purchaser and the Company desire to set forth the adjustment in the number of Shares issuable upon exercise of the Warrant as a result of a Diluting Issuance (as defined below). 
 C. Capitalized terms used herein shall have the same meaning as set forth in the Warrant. 
 NOW, THEREFORE, in consideration of the mutual promises, covenants and conditions hereinafter set forth, the parties hereto mutually agree as follows:

 1. Definitions. As used in this Anti-dilution Agreement, the following terms have the following respective meanings: 
 (a) “Option” means any right, option or warrant to subscribe for, purchase or otherwise acquire Shares or Convertible Securities of the Company.

 (b) “Convertible Securities” means any evidences of indebtedness, Shares of ownership interest or other securities directly or
indirectly convertible into or exchangeable for Shares. 
 (c) “Issue” means to grant, issue, sell, assume or fix a record date for
determining persons entitled to receive any security (including Options), whichever of the foregoing is the first to occur. 
 (d)
“Additional Shares” means all Shares (including reissued Shares) Issued (or deemed to be issued pursuant to Section 2) after the date of the Warrant. Additional Shares does not include, however, and Shares Issued in a transaction
described in Sections 2.1 and 2.2 of the Warrant; any Shares Issued upon conversion of Convertible Securities outstanding on the date of the Warrant; the Shares; or Shares Issued as incentive or in a nonfinancing transaction to employees, officers,
directors or consultants to the Company. 
 2. Deemed Issuance of Additional Shares. The Shares ultimately Issuable upon exercise of
an Option (including the Shares ultimately Issuable upon conversion or exercise of a Convertible Security Issuable pursuant to an Option) are deemed to be Issued when the Option is Issued. The Shares ultimately Issuable upon conversion or exercise
of a Convertible Security (other than a Convertible Security Issued pursuant to an Option) shall be deemed Issued upon Issuance of the Convertible Security. The maximum amount of Shares Issuable is determined without regard to any future adjustments
permitted under the instrument creating the Options or Convertible Securities. 

 3. Adjustment of Warrant Price for Diluting Issuances. 
 3.1 Weighted Average Adjustment. If the Company issues Additional Shares after the date of the Warrant and the consideration per Additional Share
(determined pursuant to Section 9) is less than the Warrant Price in effect immediately before such Issue (a “Diluting Issuance”), the Warrant Price in effect immediately before such Issue shall be reduced, concurrently with such
Issue, to a price (calculated to the nearest hundredth of a cent) determined by multiplying the Warrant Price by a fraction: 
 (a) the
numerator of which is the amount of Shares outstanding immediately before such Issue plus the amount of Shares that the aggregate consideration received by Company for the Additional Shares would purchase at the Warrant Price in effect immediately
before such Issue, and 
 (b) the denominator of which is the amount of Shares outstanding immediately before such Issue plus the number of
such Additional Shares. 
 3.2 Adjustment of Number of Shares. Upon each adjustment of the Warrant Price, the number of Shares
Issuable upon exercise of the Warrant shall be increased to equal the quotient obtained by dividing (a) the product resulting from multiplying (i) the number of Shares Issuable upon exercise of the Warrant and (ii) the Warrant Price,
in each case as in effect immediately before such adjustment, by (b) the adjusted Warrant Price. 
 3.3 Securities Deemed
Outstanding. For the purpose of this Section 3, all Shares Issuable upon exercise of any outstanding Convertible Securities or Options, Warrants, or other rights to acquire securities of the Company shall be deemed to be outstanding.

 4. No Adjustment for Issuances Following Deemed Issuances. No adjustment to the Warrant Price shall be made upon the exercise of
Options or conversion of Convertible Securities. 
 5. Adjustment Following Changes in Terms of Options or Convertible Securities. If
the consideration payable to, or the amount of Shares Issuable by, the Company increases or decreases, respectively, pursuant to the terms of any outstanding Options or Convertible Securities, the Warrant Price shall be recomputed to reflect such
increase or decrease. The recomputation shall be made as of the time of the Issuance of the Options or Convertible Securities. Any changes in the Warrant Price that occurred after such Issuance because other Additional Shares were Issued or deemed
Issued shall also be recomputed. 
 6. Recomputation Upon Expiration of Options or Convertible Securities. The Warrant Price computed
upon the original Issue of any Options or Convertible Securities, and any subsequent adjustments based thereon, shall be recomputed when any Options or rights of conversion under Convertible Securities expire without having been exercised. In the
case of Convertible Securities or Options for Shares, the Warrant Price shall be recomputed as if the only Additional Shares Issued were the Shares actually Issued upon the exercise of such securities, if any, and as if the only consideration
received therefor was the consideration actually received upon the Issue, exercise of conversion of the Options or Convertible Securities. In the case of Options for Convertible Securities, the Warrant Price shall be recomputed as if the only
Convertible Securities Issued were the Convertible Securities actually Issued upon the exercise thereof, if any, and as if the only consideration received therefor was the consideration actually received by the Company (determined pursuant to
Section 9), if any, upon the Issue of the Options for the Convertible Securities. 

 7. Limit on Readjustments. No readjustment of the Warrant Price pursuant to Sections 5 or 6 shall
increase the Warrant Price more than the amount of any decrease made in respect of the Issue of any Options or Convertible Securities. 
 8.
30 Day Options. In the case of any Options that expire by their terms not more than 30 days after the date of Issue thereof, no adjustment of the Warrant Price shall be made until the expiration or exercise of all such Options. 
 9. Computation of Consideration. The consideration received by the Company for the Issue of any Additional Shares shall be computed as follows:

 (a) Cash shall be valued at the amount of cash received by the Company, excluding amounts paid or payable for accrued interest or
accrued dividends. 
 (b) Property. Property, other than cash, shall be computed at the fair market value thereof at the time of the
Issue as determined in good faith by the Board of Directors of the Company. 
 (c) Mixed Consideration. The consideration for
Additional Shares Issued together with other property of the Company for consideration that covers both shall be determined in good faith by the Board of Directors. 
 (d) Options and Convertible Securities. The consideration per Additional Share for Options and Convertible Securities shall be determined by dividing: 
 (i) the total amount, if any, received or receivable by the Company for the Issue of the Options or Convertible Securities, plus the minimum amount of
additional consideration (as set forth in the instruments relating thereto, without regard to any provision contained therein for a subsequent adjustment of such consideration) payable to the Company upon exercise of the Options or conversion of the
Convertible Securities, by 
 (ii) the maximum amount of Shares (as set forth in the instruments relating thereto, without regard to any
provision contained therein for a subsequent adjustment of such number) ultimately Issuable upon the exercise of such Options or the conversion of such Convertible Securities. 
 10. General. 
 10.1 Governing
Law. This Anti-dilution Agreement shall be governed in all respects by the laws of the State of California as such laws are applied to agreements between California residents entered into and to be performed entirely within California.

 10.2 Successors and Assigns. Except as otherwise expressly provided herein, the provisions hereof shall inure to the benefit of,
and be binding upon, the successors, assigns, heirs, executors and administrators of the parties hereto. 
 10.3 Entire Agreement.
Except as set forth below, this Anti-dilution Agreement and the other documents delivered pursuant hereto constitute the full and entire understanding and agreement between the parties with regard to the subjects hereof and thereof. 
 10.4 Notices, etc. All notices and other communications required or permitted hereunder shall be in writing and shall be mailed by first class
mail, postage prepaid, certified or 

 
registered mail, return receipt requested, addressed (a) if to Purchaser at Purchaser’s address as set forth below, or at such other address as
Purchaser shall have furnished to the Company in writing, or (b) if to the Company, at the Company’s address set forth below, or at such other address as the Company shall have furnished to the Purchaser in writing. 
 10.5 Severability. In case any provision of this Anti-dilution Agreement shall be invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions of this Anti-dilution Agreement shall not in any way be affected or impaired thereby. 
 10.6
Titles and Subtitles. The titles of the sections and subsections of this Agreement are for convenience of reference only and are not to be considered in construing this Anti-dilution Agreement. 
 10.7 Counterparts. This Anti-dilution Agreement may be executed in any number of counterparts, each of which shall be an original, but all of
which together shall constitute one instrument. 
  

							
	PURCHASER	    	ISSUER
		
	IMPERIAL BANK	    	MACRO HOLDING, INC.
				
	By:	 	 /s/ Tim J. Klitch
	    	By:	  	 /s/ Morris Miller, President

	Name:	 	Tim J. Klitch	    	Name:	  	Morris Miller
	Title:	 	First Vice President	    	Title:	  	President
		
	 Address:
	    	Address:
	 Imperial Bank
	    	 Macro Holding, Inc.

	 Attn: Warrant Administrator
	    	 112 E. Pecan, Suite 600

	 Technology and Life Sciences Division
	    	 San Antonio, TX 78205

	 P.O. Box 7279
	    	 Attn: Graham Weston

	 San Francisco, CA 94120-7279

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