Document:

Exhibit 10.5

 Exhibit 10.5 

THIS WARRANT MAY NOT BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF EXCEPT AS SPECIFIED HEREIN. NEITHER THE RIGHTS
REPRESENTED BY THIS WARRANT NOR THE SHARES ISSUABLE UPON THE EXERCISE HEREOF HAVE BEEN REGISTERED FOR OFFER OR SALE UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE LAW. SUCH RIGHTS AND SHARES MAY NOT BE SOLD OR OFFERED FOR SALE IN
WHOLE OR IN PART EXCEPT IN ACCORDANCE WITH THE PROVISIONS HEREOF. 
  

			
	 Warrant No.:
	 	Issuance Date:                     , 2011
	  
 Number of Warrant
Shares:
	 	Warrant Exercise Price: USD$.01 per share
		 	

 MiMedx Group, Inc. 
 Form of Warrant to Purchase Common Stock 
 MiMedx
Group, Inc., a Florida corporation (the “Company”), hereby certifies that             , the registered holder hereof, or its permitted assigns
(“Holder”), is entitled, subject to the terms set forth below, including without limitation Section 3 hereof, to purchase from the Company upon surrender of this warrant (the “Warrant”), at any
time or times on or after, and subject to the occurrence of, the Effective Date hereof but not after 5:00 P.M. (Eastern Standard Time) on the Expiration Date (as defined herein), all or any part of the Warrant Shares (as defined herein), of fully
paid and nonassessable Common Stock (as defined herein) of the Company by payment of the applicable aggregate Warrant Exercise Price (as defined herein) in lawful money of the United States. 

1. Definitions. The following words and terms as used in this Warrant shall have the following meanings:

 (a) “2012 Gross Revenues” means the Company’s total revenue from
all sources on a consolidated basis, for the year ending December 31, 2012, as reflected in its audited financial statements. 
 (b) “Assignment Form” shall have the meaning given to such term in Section 14(h) of this Warrant. 

(c) “Change in Control” means any of the following transactions:
(i) a share exchange, consolidation or merger of the Company with or into any other entity or any other corporate reorganization whether or not the Company is the surviving entity (unless the shareholders of the Company immediately prior to
such share exchange, consolidation, merger or reorganization hold in excess of fifty percent (50%) of the general voting power of the Company or the surviving entity, as the case may be, immediately after the closing of such transaction);
(ii) a transaction or series of related transactions in which in excess of fifty percent (50%) of the Company’s general voting power is transferred to a third party (or group of affiliated third parties) that were not previously
shareholders of the Company; or (iii) a sale of all or substantially all of the 

 
assets of the Company (unless the shareholders of the Company immediately prior to such sale hold in excess of fifty percent (50%) of the general voting power of the purchasing party or
parties). The determination of “general voting power” as used herein shall be based on the aggregate number of votes that are attributable to outstanding securities entitled to vote in the election of directors, general
partners, managers or persons performing analogous functions to directors of the entity in question, without regard to contractual arrangements that establish a management structure or that vest the right to designate directors in certain parties.

 (d) “Common Stock” means (i) the Company’s common stock and
(ii) any capital stock resulting from a reclassification of such “Common Stock.” 

(e) “Company” means MiMedx Group, Inc., a Florida corporation. 

(f) “Convertible Securities” means any securities issued by the Company which are
convertible into or exchangeable for, directly or indirectly, shares of Common Stock. 
 (g)
“Effective Date” means the first to occur of the following: (i) the first business day after the Second Measurement Date if and only if the Company’s 2012 Gross Revenues are less than $31,150,000, and
(ii) notice to the Holder of an anticipated closing of a Change in Control, pursuant to Section 3, prior to the First Measurement Date, and (iii) notice to the Holder of an anticipated closing of a Change in Control, pursuant to
Section 3, on or after the First Measurement Date and prior to the Second Measurement Date, other than a Qualified Change in Control. 
 (h) “Exercise Date” means any date after the Effective Date, prior to the Expiration Date or other termination hereof, on which notice of exercise hereof is given by Holder.

 (i) “Expiration Date” means the date which is five (5) years
after the Issuance Date as shown on the face hereof; provided however that this Warrant may terminate earlier as provided in Section 3 hereof. 

(j) “First Measurement Date” means the date on which the Company files with the
SEC its audited financial statements for the fiscal year ending December 31, 2011. 
 (k)
“Holder” shall have that meaning given to such term in the introductory paragraph of this Warrant. 
 (l) “Market Price means the fair market value of one share of Common Stock determined as follows: (i) where there exists a public market for the Company’s Common Stock at the
time of such exercise, the fair market value per share shall be the closing trading price of the Common Stock quoted in the Over-The-Counter Market Summary or the last reported sale price of the Common Stock or the closing price quoted on the NASDAQ
National Market System or on any exchange on which the Common Stock is listed, whichever is applicable, for the five (5) trading days (or such 

 
fewer number of trading days as the Company’s Common Stock may have been publicly traded) ending on the trading day prior to the date of determination of fair market value and (ii) if
at any time the Common Stock is not listed on any domestic exchange or quoted in the NASDAQ System or the domestic over-the-counter market, the higher of (A) the book value thereof, as determined by any firm of independent public accountants of
recognized standing selected by the Board of Directors, as at the last day as of which such determination shall have been made, or (B) the fair value thereof determined in good faith by the Board of Directors as of the date which is within
fifteen (15) days of the date as of which the determination is to be made (in determining the fair value thereof, the Board of Directors shall consider stock market valuations and price to earnings ratios of comparable companies in similar
industries). 
 (m) “Qualified Change in Control” means any Change in
Control which occurs on or after the First Measurement Date and prior to the Second Measurement Date and in which the holders of the Company’s Common Stock will receive consideration in any form, having a value of $1.75 or more, per share of
Common Stock. 
 (n) “SEC” means the Securities and
Exchange Commission. 
 (o) “Second Measurement Date”
means the date on which the Company files with the SEC its audited financial statements for the fiscal year ending December 31, 2012. 

(p) “Securities Act” means the Securities Act of 1933, as
amended. 
 (q) “Subscription Notice” shall have that
meaning given to such term in Section 2(a) of this Warrant. 
 (r)
“Warrant” shall have that meaning given to such term in the introductory paragraph of this document. 
 (s) “Warrant Exercise Price” shall initially be the amount per share shown above on the face hereof.  

(t) “Warrant Shares” means the shares of Common Stock subject to
this Warrant and shown above on the face hereof. 
 (u) Other Definitional
Provisions. 
 (i) Except as otherwise specified herein, all references
herein (A) to any person other than the Company, shall be deemed to include such person’s successors and permitted assigns, (B) to the Company shall be deemed to include the Company’s successors and (C) to any applicable law
defined or referred to herein, shall be deemed references to such applicable law as the same may have been or may be amended or supplemented from time to time. 

 (ii) When used in this Warrant, the words
“herein,” “hereof,” and “hereunder,” and words of similar import, shall refer to this Warrant as a whole and not to any provision of this Warrant, and the words “Section,” “Schedule,” and
“Exhibit” shall refer to Sections of, and Schedules and Exhibits to, this Warrant unless otherwise specified. 
 (iii) Whenever the context so requires the neuter gender includes the masculine or feminine, and the singular number includes the plural, and vice versa. 

2. Exercise of Warrant. 

(a) Subject to the terms and conditions hereof (including, without limitation, the termination provisions
set forth herein), this Warrant may be exercised in whole or in part, at any time during normal business hours on or after the Effective Date and prior to 5:00 p.m. (Eastern Standard Time) on the Expiration Date. The rights represented by this
Warrant may be exercised by the holder hereof then registered on the books of the Company, in whole or from time to time in part (except that this Warrant shall not be exercisable as to a fractional share), by: (i) delivery of a written notice,
in the form of the subscription notice attached as Exhibit A hereto (the “Subscription Notice”), of such holder’s election to exercise this Warrant, which notice shall specify the number of Warrant Shares to be
purchased; (ii) payment to the Company of an amount equal to the Warrant Exercise Price multiplied by the number of Warrant Shares as to which this Warrant is being exercised (plus any applicable issue or transfer taxes) in cash, by wire
transfer or by certified or official bank check; and (iii) the surrender of this Warrant, properly endorsed, at the principal office of the Company in Kennesaw, Georgia (or at such other agency or office of the Company as the Company may
designate by notice to the Holder); provided, that if such Warrant Shares are to be issued in any name other than that of the Holder, such issuance shall be deemed a transfer and the provisions of Section 14 shall be applicable. In the event of
any exercise of the rights represented by this Warrant, a certificate or certificates for the Warrant Shares so purchased, registered in the name of, or as directed by, the Holder, shall be delivered to, or as directed by the Holder within a
reasonable time after the date on which such rights shall have been so exercised. In the event that this Warrant becomes exercisable due to receipt by the Holder prior to the Second Measurement Date of notice of an anticipated closing of a Change in
Control, the exercise of this Warrant shall be subject to, and contingent upon, the consummation of such Change in Control. 
 (b) Unless the rights represented by this Warrant shall have expired or have been fully exercised, the Company shall issue, within such fifteen (15) day period, a new Warrant identical in all
respects to this Warrant exercised except (x) such new warrant shall represent rights to purchase the number of Warrant Shares purchasable immediately prior to such exercise under the warrant exercised, less the number of Warrant Shares with
respect to which this Warrant was exercised, and (y) the Warrant Exercise Price thereof shall be, subject to further adjustment as provided in this Warrant, the Warrant Exercise Price of this Warrant exercised. The person in whose name any
certificate for Warrant Shares is issued upon exercise of this Warrant shall for all purposes be deemed to have become the holder of record of such Warrant Shares 

 
immediately prior to the close of business on the date on which this Warrant was surrendered and payment of the amount due in respect of such exercise and any applicable taxes was made,
irrespective of the date of delivery of such share certificate, except that, if the date of such surrender and payment is a date when the stock transfer books of the Company are properly closed, such person shall be deemed to have become the holder
of such Warrant Shares at the opening of business on the next succeeding date on which the stock transfer books are open. 
 3. Termination of Warrant. This Warrant shall automatically terminate without exercise and shall be null and void on the earliest to occur of: (i) the Second Measurement Date, if the 2012
Gross Revenues of the Company equals or exceeds $31,150,000, or (ii) the occurrence of ten consecutive trading days after the First Measurement Date and prior to the Second Measurement Date, in which the closing trading price of the Common
Stock is at least $1.75 per share, or (iii) immediately prior to the consummation of a Qualified Change In Control, or (iv) immediately prior the consummation of a Change in Control (other than a Qualified Change in Control), provided,
that, the Company shall give the Holder notice of the anticipated closing date of such Change in Control (other than a Qualified Change in Control), at the same time as notification thereof is provided to the shareholders of the Company generally
and the Holder shall be entitled to exercise this Warrant, subject to the last sentence of Section 2(a), at any time after such notice and prior to such closing. 

4. Covenants as to Common Stock. 

(a) The Company covenants and agrees that all Warrant Shares that may be issued upon the exercise of the
rights represented by this Warrant will, upon issuance, be validly issued, fully paid and nonassessable. The Company further covenants and agrees that during the period within which the rights represented by this Warrant may be exercised, the
Company will at all times have authorized and reserved a sufficient number of shares of Common Stock to provide for the exercise of the rights then represented by this Warrant and that the par value of said shares will at all times be less than or
equal to the applicable Warrant Exercise Price. 
 (b) If any shares of Common Stock reserved or
to be reserved to provide for the exercise of the rights then represented by this Warrant require registration with or approval of any governmental authority under any federal or state law before such shares may be validly issued to the Holder, then
the Company covenants that it will in good faith and as expeditiously as possible endeavor to secure such registration or approval, as the case may be. 

5. Adjustment of Warrant Exercise Price upon Stock Splits, Dividends, Distributions and Combinations;
and Adjustment of Number of Shares. 
 (a) In case the Company shall at any time split or
subdivide its outstanding shares of Common Stock into a greater number of shares or issue a stock dividend (including any distribution of stock without consideration) or make a distribution with respect to outstanding shares of Common Stock or
Convertible 

 
Securities payable in Common Stock or in Convertible Securities, the Warrant Exercise Price in effect immediately prior to such subdivision or stock dividend or distribution shall be
proportionately reduced and conversely, in case the outstanding shares of Common Stock of the Company shall be combined into a smaller number of shares, the Warrant Exercise Price in effect immediately prior to such combination shall be
proportionately increased, in each case, by multiplying the then effective Warrant Exercise Price by a fraction, the numerator of which shall be the total number of shares of Common Stock outstanding immediately prior to such subdivision, stock
dividend, distribution or combination (determined on a fully diluted basis), and the denominator of which shall be the total number of shares of Common Stock, immediately after such subdivision, stock dividend, distribution or combination
(determined on a fully diluted basis), and the product so obtained shall thereafter be the Warrant Exercise Price. For purposes of this Warrant, “on a fully diluted basis” means that all issued and outstanding capital stock of the Company,
including all Convertible Securities, and all outstanding options and warrants, whether or not vested, shall be taken into account. 
 (b) Upon each adjustment of the Warrant Exercise Price as provided above in this Section 5, the Holder shall thereafter be entitled to purchase, at the Warrant Exercise Price resulting from such
adjustment, the number of shares (calculated to the nearest tenth of a share) obtained by multiplying the Warrant Exercise Price in effect immediately prior to such adjustment by the number of shares purchasable pursuant hereto immediately prior to
such adjustment and dividing the product thereof by the Warrant Exercise Price immediately after such adjustment. 
 6. Reorganization, Reclassification, Etc. Subject to the provisions of Section 3 hereof, in case of any capital reorganization, or of any reclassification of the capital stock of the Company
(other than a change in par value or from par value to no par value or from no par value to par value or as a result of a split-up or combination), this Warrant shall, after such capital reorganization or reclassification of capital stock, entitle
the Holder hereof to purchase the kind and number of shares of stock or other securities or property of the Company or of the corporation resulting from such reorganization or reclassification, as the case may be, to which the holder hereof would
have been entitled if he had held the Common Stock issuable upon the exercise hereof immediately prior to such capital reorganization or reclassification of capital stock, and, in any such case, appropriate provision shall be made with respect to
the rights and interests of the holder of this Warrant to the end that the provisions thereof (including without limitation provisions for adjustment of the Warrant Exercise Price and of the number of shares purchasable upon the exercise of this
Warrant) shall thereafter be applicable, as nearly as may be practicable, in relation to any shares of stock, securities, or assets thereafter deliverable upon the exercise of the rights represented hereby. 

7. Notice of Adjustment of Warrant Exercise Price. Upon any adjustment of the Warrant Exercise
Price, then the Company shall give notice thereof to the Holder of this Warrant, which notice shall state the Warrant Exercise Price in effect after such adjustment and the increase, or decrease, if any, in the number of Warrant Shares purchasable
at the Warrant Exercise Price upon the exercise of this Warrant, setting forth in reasonable detail the method of calculation and the facts upon which such calculation is based. 
  

 8. Computation of Adjustments. Upon each computation
of an adjustment in the Warrant Exercise Price and the number of shares which may be subscribed for and purchased upon exercise of this Warrant, the Warrant Exercise Price shall be computed to the nearest cent (i.e. fraction of .5 of a cent, or
greater, shall be rounded to the next highest cent) and the number of shares which may be subscribed for and purchased upon exercise of this Warrant shall be calculated to the nearest whole share (i.e. fractions of less than one half of a share
shall be disregarded and fractions of one half of a share, or greater, shall be treated as being a whole share). No such adjustment shall be made however, if the change in the Warrant Exercise Price would be less than $.001 per share, but any such
lesser adjustment shall be made (i) at the time and together with the next subsequent adjustment which, together with any adjustments carried forward, shall amount to $.001 per share or more, or (ii) if earlier, upon the third anniversary
of the event for which such adjustment is required. 
 9. Net Issue Exercise.
Notwithstanding any provisions herein to the contrary, if the Market Price of one share of Common Stock is greater than the Warrant Exercise Price at the date of exercise of this Warrant, in lieu of exercising this Warrant by payment of cash, the
Holder may elect to receive shares equal to the value (as determined below) of this Warrant (or portion thereof being canceled) by surrender of this Warrant at the principal office of the Company together with the duly executed Notice of Exercise,
in which event the Company shall issue to the Holder a number of shares of the Common Stock computed using the following formula: 
 X = Y(A-B) 
 A 

WHERE X = the number of shares of Common Stock to be issued to the Holder; 

Y = the number of shares of the Common Stock purchasable under this Warrant or, if only a portion of this Warrant is
being exercised, the number of shares underlying this Warrant to the extent exercised (at the date of such exercise); 
 A = the Market Price of one share of Common Stock (at the date of such calculation); and 
 B = Warrant Exercise Price (at the date of such calculation). 
 10. No Change in Warrant Terms on Adjustment. Irrespective of any adjustment in the Warrant Exercise Price or the number of shares of Common Stock issuable upon exercise hereof, this Warrant,
whether theretofore or thereafter issued or reissued, may continue to express the same price and number of shares as are stated herein and the Warrant Exercise Price and such number of shares specified herein shall be deemed to have been so
adjusted. 

 11. Taxes. The Company shall not be required to pay
any tax or taxes attributable to the initial issuance of the Warrant Shares or any transfer involved in the issue or delivery of any certificates for Warrant Shares in a name other than that of the registered holder hereof or upon any transfer of
this Warrant. 
 12. Warrant Holder Not Deemed a Shareholder. No holder, as such, of this
Warrant shall be entitled to vote or receive dividends or be deemed the holder of shares of the Company for any purpose, nor shall anything contained in this Warrant be construed to confer upon the holder hereof, as such, any of the rights of a
shareholder of the Company or any right to vote, give or withhold consent to any corporate action (whether any reorganization, issue of stock, reclassification of stock, consolidation, merger, conveyance or otherwise), receive notice of meetings,
receive dividends or subscription rights, or otherwise, prior to the issuance of record to the holder of this Warrant of the Warrant Shares which he is then entitled to receive upon the due exercise of this Warrant. 

13. No Limitation on Corporate Action. No provisions of this Warrant and no right or option
granted or conferred hereunder shall in any way limit, affect or abridge the exercise by the Company of any of its corporate rights or powers to recapitalize, amend its Articles of Incorporation, reorganize, consolidate or merge with or into another
corporation, or to transfer all or any part of its property or assets, or the exercise of any other of its corporate rights and powers. 
 14. Transfer; Opinions of Counsel; Restrictive Legends. To the extent applicable, each certificate or other document evidencing any of the Warrant Shares shall be endorsed with the legends set
forth below, and Holder covenants that, except to the extent such restrictions are waived by the Company, Holder shall not transfer the Warrant Shares without complying with the restrictions on transfer described in the legends endorsed thereon;

 (a) The following legend under the Securities Act: 

“THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS
AMENDED, AND MAY NOT BE SOLD, TRANSFERRED, ASSIGNED, PLEDGED, OR HYPOTHECATED ABSENT AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT UNLESS THE COMPANY HAS RECEIVED AN OPINION OF COUNSEL, REASONABLY SATISFACTORY TO THE COMPANY AND ITS COUNSEL, THAT
SUCH REGISTRATION IS NOT REQUIRED.” 
 (b) If required by the authorities of any state in
connection with the issuance or sale of the Warrant Shares, the legend required by such state authority. 
 (c) The Company shall not be required (i) to transfer on its books either this Warrant or any Warrant Shares which shall have been transferred in violation of any of the provisions set forth in this
Section 14, or (ii) to treat as owner of such Warrant Shares or to accord the right to vote as such owner or to pay dividends to any transferee to whom such Warrant Shares shall have been so transferred. 

 (d) Any legend endorsed on a certificate pursuant to
subsection (a) or (b) of this Section 14 shall be removed (i) if the Warrant Shares represented by such certificate shall have been effectively registered under the Securities Act or otherwise lawfully sold in a public
transaction, or (ii) if the holder of such Warrant Shares shall have provided the Company with an opinion from counsel, in form and substance reasonably acceptable to the Company and from attorneys reasonably acceptable to the Company, stating
that a public sale, transfer or assignment of this Warrant or the Warrant Shares may be made without registration. 
 (e) Any legend endorsed on a certificate pursuant to subsection (b) of this Section 14 shall be removed if the Company receives an order of the appropriate state authority authorizing such
removal or if the holder of this Warrant or the Warrant Shares provides the Company with an opinion of counsel, in form and substance reasonably acceptable to the Company and from attorneys reasonably acceptable to the Company, stating that such
state legend may be removed. 
 (f) Without in any way limiting the representations set forth
above, Holder further agrees not to make any disposition of all or any portion of this Warrant at any time other than to an affiliate of the Holder; provided, however, that such affiliate transferee agrees in writing to be subject to the terms of
this Section 14. In addition, the Holder agrees not to make any disposition of all or any portion of the Warrant Shares unless: 
 (i) There is then in effect a registration statement under the Securities Act covering such proposed disposition and such disposition is made in accordance with such registration statement; or 

(ii) Holder shall have notified the Company of the proposed disposition and shall have furnished the
Company with a detailed statement of the circumstances surrounding the proposed disposition, and, if requested by the Company, (A) Holder shall have furnished the Company with an opinion of counsel, reasonably satisfactory to the Company, that
such disposition will not require registration of this Warrant or any Warrant Shares under the Securities Act and (B) the transferee shall have furnished to the Company its agreement to abide by the restrictions on transfer set forth herein as
if it were a purchaser hereunder. 
 (g) Notwithstanding the other provisions of this
Section 14, no such registration statement or opinion of counsel shall be required for any transfer by a Holder, (i) if it is a partnership or a corporation, to a partner or pro rata to its equity holder(s) of such Holder (or a third party
duly authorized to act on behalf of such Holder or its partners or equity holders), or (ii) if he or she is an individual, to members of such individual’s family for estate planning purposes; provided, however, that the transferee agrees
in writing to be subject to the terms of this Section 14. 

 (h) Upon delivery of the foregoing opinion of counsel (with
respect to a transfer of the Warrant Shares) and the surrender of this Warrant to the Company at its principal office, together with (i) the assignment form annexed hereto as Exhibit B (the “Assignment Form”) duly
executed and (ii) funds sufficient to pay any transfer tax, the Company shall, if it determines such transfer is permitted by the terms of this Warrant, without additional charge, execute and deliver a new Warrant in the name of the assignee
named in such instrument of assignment and this Warrant shall promptly be cancelled. 
 15.
Lost, Stolen, Mutilated or Destroyed Warrant. If this Warrant is lost, stolen, mutilated or destroyed, the Company shall, on such terms as to indemnity or otherwise as it may in its discretion impose (except in the event of loss, theft,
mutilation or destruction while this Warrant is in possession of the Company’s Escrow Agent, in which events the Company shall be solely responsible) (which shall, in the case of a mutilated Warrant, include the surrender thereof), issue a new
Warrant of like denomination and tenor as this Warrant so lost, stolen, mutilated or destroyed. Any such new Warrant shall constitute an original contractual obligation of the Company, whether or not the allegedly lost, stolen, mutilated or
destroyed Warrant shall be at any time enforceable by anyone. 
 16. Representation of
Holder. The Holder, by the acceptance hereof, represents that it is acquiring this Warrant, and the Warrant Shares, for its own account, for investment purposes, and not with a present view either to sell, distribute, or transfer, or to offer
for sale, distribution, or transfer, any of this Warrant or the Warrant Shares, or any other securities issuable upon the exercise thereof. 
 17. Restricted Securities. The Holder understands that this Warrant and the Warrant Shares issuable upon exercise of this Warrant, will not be registered at the time of their issuance under the
Securities Act for the reason that the sale provided for in this Warrant is exempt pursuant to Section 4(2) of the Securities Act based on the representations of the Holder set forth herein. The Warrant Holder represents that it is experienced
in evaluating companies such as the Company, has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of its investment and has the ability to suffer the total loss of the investment.
The Holder further represents that it has had the opportunity to ask questions of and receive answers from the Company concerning the terms and conditions of this Warrant, the business of the Company, and to obtain additional information to such
Holder’s satisfaction. The Holder represents that it is an “Accredited Investor” within the meaning of Rule 501 of Regulation D under the Securities Act, as presently in effect. 

18. Notices. All Notices, requests and other communications that the Holder or the Company is
required or elects to give hereunder shall be in writing and shall be deemed to have been given (a) upon personal delivery thereof, including by appropriate courier service, five (5) days after delivery to the courier or, if earlier, upon
delivery against a signed receipt therefore or (b) upon transmission by facsimile or telecopier, which transmission is confirmed, in either case addressed to the party to be notified at the address set forth below or at such other address as
such party shall have notified the other parties hereto, by notice given in conformity with this Section 18. 

 If to the Company: 

MiMedx Group, Inc. 

60 Chastain Center Blvd., Suite 60 

Kennesaw, GA 30144 

Attention: General Counsel 

Facsimile: (678) 802-2860 

If to the Holder: 

________________________________ 

________________________________ 

________________________________ 

Facsimile:________________________ 

19. Miscellaneous. This Warrant and any term hereof may be changed, waived, discharged, or
terminated only by an instrument in writing signed by the party or holder hereof against which enforcement of such change, waiver, discharge or termination is sought. The headings in this Warrant are for purposes of reference only and shall not
limit or otherwise affect the meaning hereof. 
 20. Date. The Issuance Date of this
Warrant is the date shown on the first page above on the face hereof. This Warrant, in all events, shall be wholly void and of no effect after 5:00 p.m. (Eastern Time) on the Expiration Date, except that notwithstanding any other provisions hereof,
the provisions of Section 14 shall continue in full force and effect after such date as to any Warrant Shares or other securities issued upon the exercise of this Warrant. 

21. Severability. If any provision of this Warrant is held by a court of competent jurisdiction to
be invalid, void or unenforceable, the remaining provisions shall nevertheless continue in full force and effect without being impaired or invalidated in any way and shall be construed in accordance with the purposes and tenor and effect of this
Warrant. 
 22. Governing Law. This Warrant shall be governed by and construed and
enforced in accordance with the laws of the State of Georgia, without reference to its conflicts of law principles. 

[Signatures Contained on the Following Page] 

 IN WITNESS WHEREOF, the Company has executed this Warrant as of the Issuance
Date. 
  

							
		 		 	 MiMedx Group, Inc.

				
		 		 	By:	 	  

		 		 	Name:	 	Michael J. Senken
		 		 	Title:	 	Chief Financial Officer

 Acknowledged and Agreed: 
 HOLDER:              

______________________________________ 
 Name: 
 Title (if applicable): 

 EXHIBIT A TO 

WARRANT 
 SUBSCRIPTION NOTICE 
 TO BE EXECUTED BY THE REGISTERED HOLDER IF SUCH
REGISTERED HOLDER 
 DESIRES TO EXERCISE THIS WARRANT 

The undersigned hereby exercises the right to purchase Warrant Shares covered by this Warrant according to the conditions
thereof and herewith [makes payment of $            , the aggregate Warrant Exercise Price of such Warrant Shares in full] [tenders solely this Warrant, or applicable portion hereof, in
full satisfaction of the Warrant Exercise Price upon the terms and conditions set forth herein.] 
 INSTRUCTIONS FOR REGISTRATION
OF STOCK 
 Name ______________________________________________________________________________________________________ 

(Please typewrite or print in block letters) 
 Address_____________________________________________________________________________________________________ 
  

							
		 		 	Holder Name:
				
		 		 	By:	 	 
		 		 	Name:	 	
		 		 	Title:	 	
		 		 	  
 [Net] Number of Warrant Shares Being
Purchased
 Purchased________________________

 Dated:
                    , 20             

 EXHIBIT B TO 

WARRANT 
 ASSIGNMENT FORM 
 FOR VALUE RECEIVED,
                                         
    hereby sells, assigns and transfers unto 
 Name
______________________________________________________________________________________________________ 
 (Please typewrite or
print in block letters) 
 Address______________________________________________________________________________________________________

 the right to purchase Common Stock represented by this Warrant to the extent of shares as to which such right is exercisable
and does hereby irrevocably constitute and appoint Attorney, to transfer the same on the books of the Company with full power of substitution in the premises. 
 Date                     , 20            

 Signature_______________________________________Exhibit 10.6

 Exhibit 10.6 
 FORM OF AMENDED AND RESTATED 
 SECURITY AND INTERCREDITOR
AGREEMENT 
 THIS AMENDED AND RESTATED SECURITY AND INTERCREDITOR AGREEMENT (this
“Security/Intercreditor Agreement”), dated             2011, by and among MIMEDX GROUP, INC., a corporation under the laws of the State of Florida (“Grantor”), in
favor of Parker H. Petit, in his capacity as collateral agent hereunder (in such capacity, together with any successor collateral agent, “Collateral Agent”) for the benefit of the holders of those certain 5% Convertible
Senior Secured Promissory Notes (Series $5.0 Million 2011) (the “Series $5.0 Million 2011 Notes”) in the aggregate principal amount of up to $5.0 Million (each, a “Holder”), and Parker H. Petit (“Petit”), the holder of
that certain Note in the original principal amount of $3.6 million dated March 31, 2011, issued to Petit by the Grantor (Petit and each of the Holders being individually referred to herein as a “Lender,” and, collectively, as
“Lenders”), each Holder and Petit being signatories hereto and, together with Grantor, being sometimes individually herein called a “Party” and collectively, “the Parties”. 

R E C I T A L S 

WHEREAS, Grantor has entered into that certain Revolving Secured Line of Credit Agreement dated March 31, 2011, with
Petit (such agreement as it may be amended or otherwise modified from time to time is referred to herein as the “Prior Credit Agreement”); 
 WHEREAS, in connection with Prior Credit Agreement, Grantor and Petit have entered into that certain Security and Intercreditor Agreement dated March 31, 2011, (herein called the “Prior
Security/Intercreditor Agreement”) and the Parties wish hereby to continue the Prior Security/Intercreditor Agreement as hereby amended and restated in its entirety; 
 WHEREAS, in connection with the Series $5.0 Million 2011 Notes issued pursuant to the Subscription Agreements (“the Subscription Agreements”) executed and delivered by MiMedx Group, Inc., a
corporation under the laws of the State of Florida, (the “Borrower”), payable to the order of each of the Holders, Borrower is required to execute and deliver this Security/Intercreditor Agreement; 

WHEREAS, the Loan Documents as defined in the Prior Credit Agreement and the Series $5.0 Million 2011 Notes, all Warrants
issued by Borrower to the Holders, this Security/Intercreditor Agreement, all Uniform Commercial Code financing statements filed to perfect any security interests granted pursuant to this Security/Intercreditor Agreement, the Registration Rights
Agreements executed by Borrower in favor of the Holders and any other document evidencing or securing the obligations under the Series $5.0 Million 2011 Notes are all herein collectively called the “Loan Documents”; 

WHEREAS, the execution and delivery of this Security/Intercreditor Agreement is required by the Subscription Agreements
and certain other Loan Documents; and 

 WHEREAS, Grantor has determined that the Notes (as hereinafter defined)
shall inure to the benefit of Grantor and that it is in its best interest to execute this Security/Intercreditor Agreement. 
 NOW, THEREFORE, in consideration of the premises and other good and valuable consideration, the receipt of which are hereby acknowledged, the parties hereto agree as follows: 

1. Defined Terms. The following terms shall have the following meanings (such meanings being equally
applicable to both the singular and plural forms of the terms defined): 
 “Collateral” shall have the
meaning set forth in Section 2 hereof. 
 “Collateral Agent” shall have the meaning set forth in
the heading to this Security/Intercreditor Agreement. 
 “Event of Default” shall have the meaning
given to it in the applicable Loan Document. 
 “Grantor” shall have the meaning set forth in the
heading to this Security/Intercreditor Agreement. 
 “Holder” shall have the meaning set forth in the
heading to this Security/Intercreditor Agreement. 
 “Intellectual Property” shall mean any of the
following and all rights in, arising out of, or associated therewith: (a) all United States, international, and foreign patents and applications therefor (of any kind) and all reissues, divisions, renewals, extensions, provisionals,
continuations, and continuations-in-part thereof; (b) all inventions (whether patentable or not), invention disclosures, improvements, trade secrets, proprietary information, know-how, technology, technical data, customer lists, computer
programs and other computer software, user interfaces, processes and formulae, source code, object code, algorithms, methodologies, logical data models, physical data models, architecture, structure, display screens, layouts, development tools,
instructions, templates and marketing materials, designs, all documentation relating to any and all of the foregoing, and all trade secret rights in and to any and all of the foregoing; (c) all copyrights, copyrights registrations, and
applications therefor, and all other rights corresponding thereto throughout the world; (d) all industrial designs and any registrations and applications therefor throughout the world; (e) all trade names, logos, common law trademarks and
service marks, trademark and service mark registrations, intent-to-use applications, and other registrations and applications therefor throughout the world; (f) all databases and data collections and all rights therein throughout the world;
(g) all domain names; and (h) any similar or equivalent rights to any of the foregoing anywhere in the world, including, without limitation, licenses. 

“Lien” shall mean any security interest, mortgage, pledge, hypothecation, charge, claim, option, right to
acquire, adverse interest, assignment, deposit arrangement, encumbrance, restriction, lien (statutory or other), or preference, priority, or other Security/Intercreditor Agreement or preferential arrangement of any kind or nature whatsoever, and the
filing of any financing statement under the Uniform Commercial Code or comparable law of any jurisdiction. 

  
 2 

 “Lender” or “Lenders” shall have the meaning set forth
in the heading to this Security/Intercreditor Agreement. 
 “Majority In Interest” means, at any time,
Lenders holding more than fifty percent (50%) of the outstanding principal amount of the Notes at such time. 
 “Notes” means that certain 5% Convertible Senior Secured Promissory Note dated March 31, 2011, in the original principal amount of $3.6 Million, as adjusted, issued by the Grantor to Petit,
and those certain 5% Convertible Senior Secured Promissory Notes (Series $5.0 Million 2011) issued to the Holders. 
 “Permitted Dispositions” means (i) transfers in the ordinary course of business, including, without limitation, sales of inventory and products made for sale, fixtures, furniture, and
transfers of worn out, obsolete or surplus equipment; and (ii) any and all licenses of Intellectual Property from the Grantor to third parties. 
 “Permitted Liens” means: 
 (a) Liens consisting of
any license or sublicense of Intellectual Property and any interest of a licensor under any such license or sublicense; and 
 (b) Liens arising solely by virtue of any statutory or common law provision relating to banker’s liens, rights of setoff or similar rights and remedies as to deposit accounts or other funds
maintained with a Lender depository institution. 
 “Petit” shall have the meaning set forth in the
heading to this Security/Intercreditor Agreement. 
 “Prior Credit Agreement” shall have the meaning
set forth in the Recitals to this Security/Intercreditor Agreement. 
 “Prior Security/Intercreditor
Agreement” shall have the meaning set forth in the Recitals to this Security/Intercreditor Agreement. 

“Pro Rata Share” shall have the meaning set forth in Section 5(e) hereof. 

“Secured Obligations” means all indebtedness, liabilities and obligations of Grantor to Lenders, whether now
existing or hereafter incurred, pursuant to the Notes. 
 “UCC” means the Uniform Commercial Code as
the same may, from time to time, be in effect in the State of Georgia; provided, however, in the event that, by reason of mandatory provisions of law, any or all of the attachment, perfection or priority of Lender’s security interest in any
Collateral is governed by the Uniform Commercial Code as in effect in a jurisdiction other than the State of Georgia, the term “UCC” shall mean the Uniform Commercial Code as in effect in such other jurisdiction for purposes of the
provisions hereof relating to such attachment, perfection of priority and for purposes of definitions related to such provisions. 

  
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 2. Grant of Security Interest. As collateral security for
the prompt and complete payment and performance when due (whether at stated maturity, by acceleration or otherwise) of all the Secured Obligations and in order to induce the Grantor and Lenders to cause the Notes to be issued, Grantor hereby grants
to Collateral Agent, as agent for the Lenders, a first priority security interest in all patents and other Intellectual Property of the Grantor and its subsidiaries now owned or hereafter developed or acquired and all accessions to, substitutions
for and replacements, products and proceeds of any of the foregoing (the “Collateral”), provided that until the Convertible Secured Promissory Notes in the principal sum of $1,250,000 issued January 5, 2011, in connection with the
acquisition of Surgical Biologics, LLC, are paid in full, the Collateral shall exclude (i) the patents and other intellectual property owned by Surgical Biologics, LLC, and (ii) all accessions to, substitutions for and replacements,
products and proceeds thereof. 
 3. Perfection and Protection of Security Interest. 

(a) Perfection of Security Interest. Grantor shall, at its expense, perform all steps requested by the Collateral
Agent at any time to perfect, maintain, protect, and enforce the Lenders’ Liens, including: (i) executing, delivering and/or filing of financing or continuation statements, and amendments thereof, in form and substance reasonably
satisfactory to the Lenders; (ii) when an Event of Default has occurred and is continuing, if requested by the Collateral Agent, transferring the Collateral as designated by the Collateral Agent; (iii) placing notations on Grantor’s
books of account to disclose the Lenders’ security interest; and (iv) taking such other steps as are deemed necessary or desirable by the Collateral Agent to maintain and protect the Lenders’ Liens. 

(b) Financing Statements; USPTO Filing(s). Grantor hereby irrevocably authorizes the Collateral Agent at any time
and from time to time to file: (1) in any filing office in any Uniform Commercial Code jurisdiction any initial financing statements and amendments thereto that (a) indicate the Collateral (i) as all of the intellectual property of
Grantor and its subsidiaries now owned or hereafter acquired and all accessions to, substitutions for and replacements, products and proceeds of any of the foregoing or words of similar effect (with the proviso that, until the Convertible Secured
Promissory Notes in the principal sum of $1,250,000 issued January 5, 2011, in connection with the acquisition of Surgical Biologics, LLC, are paid in full, the Collateral shall exclude (i) the patents and other intellectual property owned
by Surgical Biologics, LLC, and (ii) all accessions to, substitutions for and replacements, products and proceeds thereofhe provision that), regardless of whether any particular asset comprised in the Collateral falls within the scope of
Article 9 of the Uniform Commercial Code (the “UCC”) of such jurisdiction, or (ii) as being of an equal or lesser scope or with greater detail, and (b) contain any other information required by part 5 of Article 9 of the UCC for
the sufficiency or filing office acceptance of any financing statement or amendment, including (i) whether the Grantor is an organization, the type of organization and any organization identification number issued to the Grantor, and
(ii) in the case of a financing statement filed as a fixture filing, a sufficient description of real property to which the Collateral relates; and (2) any filings with the 

  
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United States Office of Patents and Trademarks (USPTO) as may be necessary or desirable in the Collateral Agent’s discretion to reflect the security interest in any patents comprising part
of the Collateral. Any such filing, and any amendment, continuation or termination with respect thereto, shall be made only with the approval of the Majority In Interest for and on behalf of all of the Lenders. Each undersigned Lender hereby
approves such initial filings with the USPTO and under the UCC as the Collateral Agent may deem appropriate. Grantor agrees to furnish any such information to the Lenders promptly upon request. The Grantor agrees that a carbon, photographic,
photostatic, or other reproduction of this Security/Intercreditor Agreement or of a financing statement is sufficient as a financing statement. 
 (c) Confirmation. From time to time, Grantor shall, upon the Collateral Agent’s request, execute and deliver confirmatory written instruments pledging to the Lenders the Collateral, but
Grantor’s failure to do so shall not affect or limit any security interest or any other rights of the Lenders in and to the Collateral with respect to Grantor. Until all Secured Obligations have been fully satisfied, the security interest
granted hereunder shall continue in full force and effect in all Collateral. 
 4. Power of Attorney. TO
THE EXTENT PERMITTED BY APPLICABLE LAW, GRANTOR AND EACH OTHER LENDER HEREUNDER HEREBY IRREVOCABLY CONSTITUTES AND APPOINTS COLLATERAL AGENT, WITH FULL POWER OF SUBSTITUTION, AS ITS TRUE AND LAWFUL ATTORNEY-IN-FACT WITH FULL IRREVOCABLE POWER AND
AUTHORITY IN THE NAME OF GRANTOR OR IN ITS OWN NAME AS AGENT FOR ITSELF AND THE OTHER SECURED PARTIES, TO TAKE, AFTER THE OCCURRENCE AND DURING THE CONTINUANCE OF AN EVENT OF DEFAULT, ANY AND ALL ACTIONS AND TO EXECUTE ANY AND ALL DOCUMENTS AND
INSTRUMENTS WHICH COLLATERAL AGENT AT ANY TIME AND FROM TIME TO TIME DEEMS NECESSARY TO ACCOMPLISH THE PURPOSES OF THIS SECUIRTY AGREEMENT AND, WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, GRANTOR HEREBY GIVES COLLATERAL AGENT THE POWER AND
RIGHT ON BEHALF OF GRANTOR AND IN ITS OWN NAME TO DO ANY OF THE FOLLOWING AFTER THE OCCURRENCE AND DURING THE CONTINUANCE OF AN EVENT OF DEFAULT, WITHOUT NOTICE TO, OR THE CONSENT OF, GRANTOR: (a) to endorse the Grantor’s name on any
checks, notes, acceptances, money orders, or other forms of payment or security that come into the Lenders’ possession; (b) to sign the Grantor’s name on any invoice, bill of lading, warehouse receipt or other negotiable or
non-negotiable document constituting Collateral, on drafts against customers, on assignments of accounts, on notices of assignment, financing statements, filings with the USPTO, and other public records and to file any such financing statements or
other documents by manual or electronic means with or without a signature as authorized or required by applicable law or filing procedure; (c) to notify the post office authorities to change the address for delivery of the Grantor’s mail
to an address designated by the Collateral Agent and to receive, open and dispose of all mail addressed to the Grantor; (d) to send requests for verification of accounts to customers or account debtors; (e) to complete in the
Grantor’s name or the Lenders’ names, any order, sale or transaction, obtain the necessary documents in connection therewith, and collect the proceeds thereof; (f) to file such financing statements with respect to this
Security/Intercreditor Agreement, with or without the Grantor’s signature, or to file a photocopy of this Security/Intercreditor Agreement in substitution for a financing statement, as the Collateral Agent may deem appropriate, and to execute
in the 

  
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Grantor’s name such financing statements and amendments thereto and continuation statements which may require the Grantor’s signature; and (g) to do all things necessary to carry
out the fulfillment of the obligations of the Grantor under the Notes, the Loan Documents and this Security/Intercreditor Agreement. Grantor hereby ratifies and approves all acts of such attorney-in-fact. Neither the Majority In Interest nor the
Collateral Agent or other designees or attorneys will be liable for any acts or omissions or for any error of judgment or mistake of fact or law except for their willful misconduct. 

THIS POWER OF ATTORNEY IS A POWER COUPLED WITH AN INTEREST AND SHALL BE IRREVOCABLE UNTIL THE SECURED OBLIGATIONS HAVE BEEN FULLY
SATISFIED. 
 5. Intercreditor Provisions. 

(a) Rights With Respect to Notes. Upon an Event of Default, the Collateral Agent with the consent of the Majority
in Interest, and subject to this Security/Intercreditor Agreement, shall have the right to accelerate the maturity of the Notes and to take and exercise any rights as a secured creditor with respect to the Collateral under the UCC and this
Security/Intercreditor Agreement. Each Lender hereby agrees that it shall not amend or assign its Loan Documents without the prior written consent of a Majority In Interest. 

(b) Waivers. Waivers granted and other actions taken pursuant to this Security/Intercreditor Agreement shall
be effective as against all Lenders if in writing executed by the Collateral Agent. 
 (c) Sharing of
Payments and Proceeds. Each Lender shall share pari passu on a ratable basis equal to its Pro Rata Share (defined below) in all payments from any source made on any of the Notes, and in the Collateral and any proceeds therefrom. “Pro Rata
Share” shall mean an amount equal to the amount which results when the total amount of principal that is owing to that Lender is divided by the aggregate principal owing to all Lenders (expressed as a percentage). Each Lender agrees that if it
shall receive (by whatever means, including through the exercise of any right of setoff or counterclaim or otherwise) payment of a proportion of the aggregate amount of principal and interest due with respect to the Notes that is greater than its
Pro Rata Share, the Lender receiving such proportionately greater payment shall remit to the other Lenders the amount necessary so that each Lender receives its Pro Rata Share of such payment. 

(d) Amendment. No amendment of any provision of this Security/Intercreditor Agreement shall in any event be
effective unless the same shall be in writing and signed by a Majority In Interest. 
 (e) Collateral
Agent. Each Lender hereby appoints Parker H. Petit as the Collateral Agent hereunder, who shall act as a representative of the Lenders to carry out instructions and directives of the Majority In Interest for purposes of this
Security/Intercreditor Agreement and to have the other responsibility and authority set forth in this Security/Intercreditor Agreement. The Lenders’ approval of this Security/Intercreditor Agreement shall include confirmation of the

  
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authority of the Collateral Agent. Grantor may rely upon the acts of the Collateral Agent for all purposes permitted hereunder. EACH LENDER HEREBY WAIVES ANY CONFLICT OF INTEREST OF THE
COLLATERAL AGENT ARISING FROM HIS SERVICE AS COLLATERAL AGENT HEREUNDER AND FROM HIS STATUS AS A LENDER HEREUNDER, and as a DIRECTOR, CHAIRMAN, CEO AND A MAJOR SHAREHOLDER OF GRANTOR. 

The Collateral Agent shall have full power of attorney to act in the name, place, and stead of the Lenders, and each of
them, in all matters in connection with this Security/Intercreditor Agreement, upon the approval of the Majority In Interest or as may be specifically provided herein. The Collateral Agent’s authority to act on behalf of the Lenders includes
the power to execute all such documents, waivers, amendments, and instruments as are approved by the Majority In Interest or by this Security/Intercreditor Agreement. 

The Collateral Agent shall have no duties or obligations except as specifically set forth in this Security/Intercreditor
Agreement. In acting on behalf of the Majority In Interest, the Collateral Agent may rely upon, and shall be protected in acting or refraining from acting upon, an opinion or advice of counsel, certificate of auditors or other certificate,
statement, instrument, opinion, report, notice, request, consent, order, arbitrator’s award, appraisal, bonds, or other paper or document reasonably believed by them to be genuine and to have been executed or presented by the proper party or
parties. The Collateral Agent shall not be personally liable to the Majority In Interest for any action taken, suffered, or omitted by him, except for willful misconduct or gross neglect. 

The Collateral Agent and each Lender hereby agree that the Majority In Interest shall have the full and complete right
and authority to give instructions to, and otherwise direct, the Collateral Agent in respect of the Collateral or any action with respect to any Collateral. The Collateral Agent shall not have by reason of this Security/Intercreditor Agreement or
any other document a fiduciary relationship in respect of any Lender. 
 6. Representations and
Warranties. Grantor hereby represents and warrants to the Lenders that except for the security interest granted under this Security/Intercreditor Agreement and the Prior Credit Agreement, and Permitted Liens, Grantor has granted no other
security interest in the Collateral that is still outstanding, and that this Security/Intercreditor Agreement creates a valid, binding and enforceable Lien and/or security interest in and to the Collateral hereunder for the benefit of the Lenders.

 7. Covenants. Grantor covenants and agrees with the Lenders that from and after the date of this
Security/Intercreditor Agreement and until the Secured Obligations have been performed and paid in full: 
 7.1
Further Assurances. At any time and from time to time, upon the written request of the Collateral Agent, and at the sole expense of Grantor, Grantor shall promptly and duly execute and deliver any and all such further instruments and
documents and take such further actions as the Collateral Agent may reasonably deem desirable to obtain the full benefit of this Security/Intercreditor Agreement. 

  
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 7.2 Maintenance of Records. Grantor shall keep and
maintain at its own cost and expense satisfactory and complete records of the Collateral. Grantor shall allow reasonable access to such records upon reasonable notice from Lenders. 

7.3 Collateral. The Grantor agrees that it will not, without the prior written consent of the
Collateral Agent, consent to, permit or suffer to occur any sale, transfer, Lien, or use of any of the Collateral adversely affecting the interest of the Lenders therein, other than pursuant to Permitted Liens and Permitted Dispositions.

 8. Rights and Remedies Upon Default. 

(a) Upon the occurrence and during the continuation of an Event of Default (subject to the provisions of this
Security/Intercreditor Agreement and the Loan Documents), the Lenders, acting through the Collateral Agent, shall have the right to take title to, seize, assign, sell, and otherwise dispose of the Collateral, or any part thereof, either at public or
private sale, in lots or in bulk, for cash, credit or otherwise, with or without representations or warranties, and upon such terms as shall be reasonable, and any Lender may bid or become the purchaser at any such sale. If notification to
Grantor of any intended disposition by the Lenders of any of the Collateral is required by applicable law, such notification will be deemed to have been reasonable and proper if given at least 20 days prior to such disposition. 

(b) If any Event of Default shall occur and be continuing, the Lenders, acting through the Collateral Agent, may
exercise, in addition to all other rights and remedies granted to them under this Security/Intercreditor Agreement and the Loan Documents, all rights and remedies of a secured party under the UCC. 

(c) Except as specifically provided for herein, Grantor hereby waives presentment, demand, protest or any notice (to
the maximum extent permitted by applicable law) of any kind in connection with this Security/Intercreditor Agreement or any Collateral. 
 (d) The proceeds of any sale, disposition or other realization upon all or any part of the Collateral shall be distributed in the following order of priorities: 

First, to the Collateral Agent in an amount sufficient to pay in full the reasonable costs of the Collateral Agent in
connection with such sale, disposition or other realization, including all fees, costs, expenses, liabilities and advances incurred or made by the Collateral Agent in connection therewith, including, without limitation, reasonable attorneys’
fees; 
 Second, to the Lenders in the amount of the Pro Rata Share owing to each Lender; and 

Finally, upon payment in full of the Secured Obligations, to Grantor or its representatives or as a court of competent
jurisdiction may direct. 
 9. Reinstatement. This Security/Intercreditor Agreement shall remain in
full force and effect and continue to be effective should any petition be filed by or against Grantor for liquidation or reorganization, should Grantor become insolvent or make an assignment for the

  
 8 

 
benefit of Lenders or should a receiver or trustee be appointed for all or any significant part of Grantor’s property and assets, and shall continue to be effective or be reinstated, as the
case may be, if at any time payment and performance of the Secured Obligations, or any part thereof, is, pursuant to applicable law, rescinded or reduced in amount, or must otherwise be restored or returned by any obligee of the Secured Obligations,
whether as a “voidable preference,” “fraudulent conveyance,” or otherwise, all as though such payment or performance had not been made. In the event that any payment, or any part thereof, is rescinded, reduced, restored or
returned, the Secured Obligations shall be reinstated and deemed reduced only by such amount paid and not so rescinded, reduced, restored or returned. 
 10. Miscellaneous. 
 10.1 No Waiver; Cumulative
Remedies. 
 (a) Lenders shall not by any act, delay, omission or otherwise be deemed to have waived
any of their respective rights or remedies hereunder, nor shall any single or partial exercise of any right or remedy hereunder on any one occasion preclude the further exercise thereof or the exercise of any other right or remedy. 

(b) The rights and remedies hereunder provided are cumulative and may be exercised singly or concurrently, and are
not exclusive of any rights and remedies provided by law. 
 (c) None of the terms or provisions of this
Security/Intercreditor Agreement may be waived, altered, modified or amended except as provided herein. 

10.2 Termination of this Security/Intercreditor Agreement. This Security/Intercreditor Agreement shall
terminate upon the payment and performance in full of the Secured Obligations. 
 10.3 Successor and
Assigns. This Security/Intercreditor Agreement shall be binding upon the successors of Grantor and Lenders and may not be assigned by any party. 
 10.4 Governing Law. In all respects, including all matters of construction, validity and performance, this Security/Intercreditor Agreement shall be governed by, and construed and enforced in
accordance with, the laws of the State of Georgia applicable to contracts made and performed in such state, without regard to the principles thereof regarding conflict of laws. 

10.5 Counterparts. This Security/Intercreditor Agreement may be executed in two or more counterparts, each of
which shall be deemed an original, but all of which together shall constitute one and the same instrument. 

10.6 Titles and Subtitles. The titles of the sections and subsections of this Security/Intercreditor
Agreement are not to be considered in construing this Security/Intercreditor Agreement. 

10.7 Severability. In case any provision of this Security/Intercreditor Agreement shall be invalid, illegal
or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

  
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 10.8 Agreement is Entire Contract. This Security/Intercreditor
Agreement and the other Loan Documents, constitute the final, complete and exclusive contract between the parties hereto with respect to the subject matter hereof and no party shall be liable or bound to the other in any manner by any warranties,
representations, guarantees or covenants except as specifically set forth herein and in such other documents referred to above. Nothing in this Security/Intercreditor Agreement, express or implied, is intended to confer upon any party, other than
the parties hereto, and their respective successors and assigns, any right, remedies, obligations or liabilities under or by reason of this Security/Intercreditor Agreement, except as expressly provided herein. 

[Signatures Contained on the Following Page] 

  
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 In Witness Whereof, the undersigned have caused this Security/Intercreditor
Agreement to be executed and delivered by its duly authorized officer on the date first set forth above. 
  

			
	GRANTOR:
	
	MiMedx Group, Inc.
		
	By:	 	 
		 	Michael J. Senken, CFO

 [COMPANY SEAL] 

COLLATERAL AGENT: 
  

	
	
	(SEAL)
	Parker H. Petit

 LENDER’S COUNTERPART SIGNATURE PAGE TO SECURITY AND INTERCREDITOR AGREEMENT FOLLOWS

 LENDER’S COUNTERPART SIGNATURE PAGE TO 

SECURITY AND INTERCREDITOR AGREEMENT 
  

					
	LENDER:	 		 	
			
	Signature for Corporate, Partnership, or other Entity Lender:	 		 	Signature for Individual Lender:
			
	 	 		 	 
	(Print Name of Entity)	 		 	(Signature)
			
	By:                             
                                         
          	 		 	Print Name:                           
                                         
                
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Name:                                        
                          	 		 	
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Title:

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