Document:

exv4w13

Exhibit 4.13

REGISTRATION RIGHTS AGREEMENT

     This REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made as of February __, 2011, by and
among CryoPort, Inc., a Nevada corporation (the “Company”), Emergent Financial Group, Inc., and the
Unit Investors a signatory hereto (each a “Stockholder” and collectively the “Stockholders”).

Recitals

     A. The Company and investors entered into a Securities Purchase Agreement (the “Securities
Purchase Agreement”) providing for the issuance and sale of up to an aggregate of
____________________ units (the “Units”), each Unit consisting of one share of common stock (the
“Common Stock”), par value $0.001 per share, of the Company, and a warrant (the “Warrant”) to
purchase one share of Common Stock as indicated therein.

     B. In connection with the sale of the Units, Emergent Financial Group, Inc. (the “Placement
Agent”) served as the selling agent for the Company and in connection therewith is entitled to
exercise rights to acquire from the Company shares of Common Stock equal to 8% of the shares of
Common Stock underlying the Securities subscribed for as a result of the efforts of the Placement
Agent.

     C. In connection with the Securities Purchase Agreement, the Company desires to provide
certain registration rights under the Securities Act of 1933, as amended, and the rules and
regulations promulgated thereunder, and applicable state securities laws.

     Now, therefore, in consideration of the foregoing and the mutual promises contained herein,
the Company and Stockholders agree as follows:

Agreement

1. Definitions. For purposes of this Agreement, capitalized terms used herein but not
otherwise defined shall have the meaning given to them in the Securities Purchase Agreement, and
the following terms shall have the meanings given them:

     1.1. “Affiliate” means, with respect to any Person, any other Person which directly or
indirectly through one or more intermediaries Controls, is controlled by, or is under common
control with, such Person.

     1.2. “Charter” the Company’s Amended and Restated Articles of Incorporation.

     1.3. “Common Stock” means the common stock, par value $0.001 per share, of the Company, or
shares or other equity interests of the Company issued in exchange for or otherwise in connection
with the exercise of the Warrants.

     1.4. “Control” (including the terms “controlling,” “controlled by” or “under common control
with”) means the possession, direct or indirect, of the power to direct or cause the direction of
the management and policies of a Person, whether through the ownership of voting securities, by
contract or otherwise.

 

 

     1.5. “Damages” means any loss, damage, or liability to which a party hereto may become subject
under the 1933 Act, the 1934 Act, or other federal or state law, insofar as such loss, damage, or
liability (or any action in respect thereof) arises out of or is based upon (a) any untrue
statement or alleged untrue statement of a material fact contained in any registration statement of
the Company, including any preliminary prospectus or final prospectus contained therein or any
amendments or supplements thereto; (b) an omission or alleged omission to state therein a material
fact required to be stated therein, or necessary to make the statements therein not misleading; or
(c) any violation or alleged violation by the indemnifying party (or any of its agents or
Affiliates) of the 1933 Act, the 1934 Act, any state securities law, or any rule or regulation
promulgated under the 1933 Act, the 1934 Act, or any state securities law.

     1.6. “Excluded Registration” means (a) a registration relating to the sale of securities to
employees of the Company or a subsidiary pursuant to a stock option, stock purchase, or similar
plan on a Registration Statement on Form S-8; or (b) a registration relating to a Rule 145
transaction.

     1.7. “Form S-1” means such form under the 1933 Act as in effect on the date hereof or any
successor registration form under the 1933 Act subsequently adopted by the SEC.

     1.8. “Form S-3” means such form under the 1933 Act as in effect on the date hereof or any
registration form under the 1933 Act subsequently adopted by the SEC that permits incorporation of
substantial information by reference to other documents filed by the Company with the SEC.

     1.9. “GAAP” means generally accepted accounting principles in the United States.

     1.10. “Holder” means any holder of Registrable Securities who is a party to this Agreement,
including permitted transferees that agree in writing to be bound by and subject to the terms and
conditions of this Agreement.

     1.11. “Person” means an individual, corporation, partnership, limited liability company,
trust, business trust, association, joint stock company, joint venture, sole proprietorship,
unincorporated organization, governmental authority or any other form of entity not specifically
listed herein.

     1.12. “Registrable Securities” means (a) the Common Stock issued or issuable to any Holder
pursuant to the Securities Purchase Agreement and the Common Stock issuable to any Holder upon
exercise of the Warrants issued to such Holder pursuant to the Securities Purchase Agreement
(including without limitation the shares of Common Stock issuable to the Placement Agent upon
exercise of the warrants issued to the Placement Agent); and (b) any Common Stock issued as (or
issuable upon the conversion or exercise of any warrant, right, or other security that is issued
as) a dividend or other distribution with respect to, or in exchange for or in replacement of, the
Common Stock referenced in clause (a) above, including without limitation any Common Stock which is
issued to any Holder subsequent to the conversion resulting from any stock split or merger, and
excluding in all cases, however, any Registrable Securities sold by a Person in a transaction in
which the applicable rights under this Agreement are not assigned pursuant to

2

 

Section 3.1, and excluding for purposes of Section 2 any Common Stock for which registration
rights have terminated or suspended pursuant to Section 2.9 of this Agreement.

     1.13. “Rule 144” means Rule 144 promulgated by the SEC under the 1933 Act.

     1.14. “Rule 145” means Rule 145 promulgated by the SEC under the 1933 Act.

     1.15. “SEC” means the Securities and Exchange Commission.

     1.16. “1933 Act” means the Securities Act of 1933, as amended, or any successor statute, and
the rules and regulations promulgated thereunder.

     1.17. “1934 Act” means the Securities Exchange Act of 1934, as amended, or any successor
statute, and the rules and regulations promulgated thereunder.

2. Registration Rights. The Company covenants and agrees as follows:

     2.1. Registration Statement. Within ninety (90) days following the Closing (the
“Filing Date”), the Company shall prepare and file with the SEC a Registration Statement on Form
S-1 covering the resale of the Registrable Securities. Subject to any SEC comments, the
registration statement filed pursuant to this Section 2.1 shall include the plan of distribution
attached hereto as Exhibit A. Such registration statement also shall cover, to the extent
allowable under the 1933 Act and the rules promulgated thereunder (including Rule 416), such
indeterminate number of additional shares of Common Stock resulting from stock splits, stock
dividends, or similar transactions with respect to the Registrable Securities to which such
registration statement relates. The expenses (other than Selling Expenses) of such withdrawn
registration shall be borne by the Company in accordance with Section 2.5. In the event that the
Company fails to file such registration statement by the Filing Date, then for each month following
the Filing Date that the Company has not filed such registration statement, the Company shall pay
the Investor, as liquidated damages and not a penalty, an amount equal to 1.5% of the aggregate
Purchase Price paid by such Holder pursuant the Securities Purchase Agreement for any unregistered
Registrable Securities then held by such Holder, up to a maximum aggregate of 6% of such aggregate
Purchase Price; provided, however, the Company shall not be liable if any such delay is due to an
investor’s failure to promptly provide on request by the Company any information required by this
Agreement or the provision of inaccurate or incomplete information by an Investor.

     2.2. Reserved.

     2.3. Obligations of the Company. The Company will use commercially reasonable efforts
to effect the registration of the Registrable Securities, and pursuant thereto the Company shall,
as expeditiously as reasonably possible:

     (a) prepare and file with the SEC a registration statement with respect to such
Registrable Securities and use its commercially reasonable efforts to cause such
registration statement to become effective and keep such registration statement effective
until the latter to occur of (i) the expiration of six months or, if earlier, such time that
the distribution contemplated by the registration statement has been completed or (ii) such

3

 

time that the Registrable Securities may be resold by the Holder without restriction
under Rule 144 (assuming that such Registrable Securities that consist of securities
convertible into other securities of the Company are exercised solely in exchange for other
securities (including Common Stock) of the Company as contemplated by Rule 144(d)(3)(ii));

     (b) prepare and file with the SEC such amendments and supplements to such registration
statement, and the prospectus used in connection with such registration statement, as may be
necessary to comply with the 1933 Act in order to enable the disposition of all securities
covered by such registration statement;

     (c) provide copies to and permit counsel designated by the Investors, if any, in the
selling Stockholder questionnaire attached hereto as Exhibit B (the “Selling
Stockholder Questionnaire”) to review such registration statement and all amendments and
supplements thereto no fewer than seven days prior to their filing with the SEC and not file
any document to which such counsel reasonably objects;

     (d) furnish to the selling Holders such numbers of copies of a prospectus, including a
preliminary prospectus, as required by the 1933 Act, and such other documents as the Holders
may reasonably request in order to facilitate their disposition of their Registrable
Securities;

     (e) use its commercially reasonable efforts to register and qualify the securities
covered by such registration statement under such other securities or blue-sky laws of such
jurisdictions as shall be reasonably requested by the selling Holders; provided that the
Company shall not be required to qualify to do business or to file a general consent to
service of process in any such states or jurisdictions, unless the Company is already
subject to service in such jurisdiction and except as may be required by the 1933 Act;

     (f) use its commercially reasonable efforts to cause all such Registrable Securities
covered by such registration statement to be listed on a national securities exchange or
trading system and each securities exchange and trading system (if any) on which similar
securities issued by the Company are then listed;

     (g) provide a transfer agent and registrar for all Registrable Securities registered
pursuant to this Agreement and provide a CUSIP number for all such Registrable Securities,
in each case not later than the effective date of such registration;

     (h) promptly make available for inspection by the selling Holders and any attorney or
accountant or other agent retained by the selling Holders, all financial and other records,
pertinent corporate documents, and properties of the Company, and cause the Company’s
officers, directors, employees, and independent accountants to supply all information
reasonably requested by any such seller, attorney, accountant, or agent, in each case, as
necessary or advisable to verify the accuracy of the information in such registration
statement and to conduct appropriate due diligence in connection therewith; and

4

 

     (i) notify each selling Holder, promptly after the Company receives notice thereof, of
the time when such registration statement has been declared effective or a supplement to any
prospectus forming a part of such registration statement has been filed.

     2.4. Furnish Information. It shall be a condition precedent to the obligations of the
Company to take any action pursuant to Section 2 with respect to the Registrable Securities of any
selling Holder that such Holder shall furnish to the Company such information regarding itself, the
Registrable Securities held by it, and the intended method of disposition of such securities as is
reasonably required to effect the registration of such Holder’s Registrable Securities, including,
without limitation the information required by Exhibit B.

     2.5. Expenses of Registration. All expenses incurred in connection with
registrations, filings, or qualifications pursuant to Section 2, including all registration,
filing, and qualification fees; printers’ and accounting fees; and fees and disbursements of
counsel for the Company, shall be borne and paid by the Company. All selling expenses relating to
Registrable Securities registered pursuant to Section 2 shall be borne and paid by the Holders pro
rata on the basis of the number of Registrable Securities registered on their behalf.
Notwithstanding the foregoing, upon the registration of Registrable Securities pursuant to Section
2, Holders of a majority of the Registrable Securities that are to be registered pursuant to
Section 2 shall be entitled to appoint one counsel in connection with the registration, and the
Company shall pay such counsel’s fees and disbursements related to the registration in an amount
not to exceed $10,000.

     2.6. Indemnification. If any Registrable Securities are included in a registration
statement under this Section 2:

     (a) To the extent permitted by law, the Company will indemnify and hold harmless each
selling Holder, and the partners, members, officers, directors, and stockholders of each
such Holder; legal counsel and accountants for each such Holder; any underwriter (as defined
in the 1933 Act) for each such Holder; and each Person, if any, who controls such Holder or
underwriter within the meaning of the 1933 Act or the 1934 Act, against any Damages, and the
Company will pay to each such Holder, underwriter, controlling Person, or other
aforementioned Person any legal or other expenses reasonably incurred thereby in connection
with investigating or defending any claim or proceeding from which Damages may result, as
such expenses are incurred; provided, however, that the indemnity agreement contained in
this Section 2.6(a) shall not apply to amounts paid in settlement of any such claim or
proceeding if such settlement is effected without the consent of the Company, which consent
shall not be unreasonably withheld, nor shall the Company be liable for any Damages to the
extent that they arise out of or are based upon actions or omissions made in reliance upon
and in conformity with written information furnished by or on behalf of any such Holder,
underwriter, controlling Person, or other aforementioned Person expressly for use in
connection with such registration.

     (b) To the extent permitted by law, each selling Holder, severally and not jointly,
will indemnify and hold harmless the Company, and each of its directors, each of its
officers who has signed the registration statement, each Person (if any), who controls the
Company within the meaning of the 1933 Act, legal counsel and accountants for the

5

 

Company, any underwriter (as defined in the 1933 Act), any other Holder selling
securities in such registration statement, and any controlling Person of any such
underwriter or other Holder, against any Damages, in each case only to the extent that such
Damages arise out of or are based upon actions or omissions made in reliance upon and in
conformity with written information furnished by or on behalf of such selling Holder
expressly for use in connection with such registration; and each such selling Holder will
pay, severally and not jointly, to the Company and each other aforementioned Person any
legal or other expenses reasonably incurred thereby in connection with investigating or
defending any claim or proceeding from which Damages may result, as such expenses are
incurred; provided, however, that the indemnity agreement contained in this Section 2.6(b)
shall not apply to amounts paid in settlement of any such claim or proceeding if such
settlement is effected without the consent of the Holder, which consent shall not be
unreasonably withheld.

     (c) Promptly after receipt by an indemnified party under this Section 2.6 of notice of
the commencement of any action (including any governmental action) for which a party may be
entitled to indemnification hereunder, such indemnified party will, if a claim in respect
thereof is to be made against any indemnifying party under this Section 2.6 give the
indemnifying party notice of the commencement thereof. The indemnifying party shall have the
right to participate in such action and, to the extent the indemnifying party so desires,
participate jointly with any other indemnifying party to which notice has been given, and to
assume the defense thereof with counsel mutually satisfactory to the parties; provided,
however, that an indemnified party (together with all other indemnified parties that may be
represented without conflict by one counsel) shall have the right to retain one separate
counsel, with the fees and expenses to be paid by the indemnifying party, if representation
of such indemnified party by the counsel retained by the indemnifying party would be
inappropriate due to actual or potential conflicting interests between such indemnified
party and any other party represented by such counsel in such action. The failure to give
notice to the indemnifying party within a reasonable time of the commencement of any such
action shall not relieve such indemnifying party of any liability to the indemnified party
under this Section 2.6 unless such failure actually and materially prejudices the
indemnifying party’s ability to defend such action.

     (d) Notwithstanding anything else herein to the contrary, the foregoing indemnity
agreements of the Company and the selling Holders are subject to the condition that, insofar
as they relate to any Damages arising from any untrue statement or alleged untrue statement
of a material fact contained in, or omission or alleged omission of a material fact from, a
preliminary prospectus (or necessary to make the statements therein not misleading) that has
been corrected in the form of prospectus included in the registration statement at the time
it becomes effective, or any amendment or supplement thereto filed with the SEC pursuant to
Rule 424(b) under the 1933 Act (the “Final Prospectus”), such indemnity agreement shall not
inure to the benefit of any Person if a copy of the Final Prospectus was furnished to the
indemnified party and such indemnified party failed to deliver, at or before the
confirmation of the sale of the shares registered in such offering, a copy of the Final
Prospectus to the Person asserting the loss, liability, claim, or damage in any case in
which such delivery was required by the 1933 Act.

6

 

     (e) To provide for just and equitable contribution to joint liability under the 1933
Act in any case in which either (i) any party otherwise entitled to indemnification
hereunder makes a claim for indemnification pursuant to this Section 2.6 but it is
judicially determined (by the entry of a final judgment or decree by a court of competent
jurisdiction and the expiration of time to appeal or the denial of the last right of appeal)
that such indemnification may not be enforced in such case, notwithstanding the fact that
this Section 2.6 provides for indemnification in such case, or (ii) contribution under the
1933 Act may be required on the part of any party hereto for which indemnification is
provided under this Section 2.6, then, and in each such case, such parties will contribute
to the aggregate losses, claims, damages, liabilities, or expenses to which they may be
subject (after contribution from others) in such proportion as is appropriate to reflect the
relative fault of each of the indemnifying party and the indemnified party in connection
with the statements, omissions, or other actions that resulted in such loss, claim, damage,
liability, or expense, as well as to reflect 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 allegedly untrue
statement of a material fact, or the omission or alleged omission of 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; provided, however, that, in any such case, no Person
guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the 1933 Act)
will be entitled to contribution from any Person who was not guilty of such fraudulent
misrepresentation.

     (f) the obligations of the Company and Holders under this Section 2.6 shall survive the
completion of any offering of Registrable Securities in a registration under Section 2, and
otherwise shall survive the termination of this Agreement.

     2.7. Current Public Information. With a view to making available to the Holders the
benefits of Rule 144 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, the Company shall:

     (a) make and keep available adequate current public information, as those terms are
understood and defined in Rule 144, at all times; and

     (b) furnish to any Holder, so long as the Holder owns any Registrable Securities, upon
request (A) to the extent accurate, a written statement by the Company that it has complied
with the reporting requirements of Rule 144; (B) a copy of the most recent annual or
quarterly report of the Company and such other reports and documents so filed by the
Company; and (C) such other information as may be reasonably requested in availing any
Holder of any rule or regulation of the SEC that permits the selling of any such securities
without registration.

     2.8. Obligations of the Investors.

     (a) Each Investor shall furnish to the Company a Selling Stockholder Questionnaire and
shall furnish in writing to the Company such additional information

7

 

regarding itself, the Registrable Securities held by it, and the intended method of
disposition of the Registrable Securities held by it, as shall be reasonably required to
effect the registration of such Registrable Securities, and shall execute such documents in
connection with such registration as the Company may reasonably request. At least twenty
one Business Days prior to the first anticipated filing date of a registration statement,
the Company shall notify the Investors of the information the Company requires from the
Investors, to the extent not included in the Selling Stockholder Questionnaire, if the
Investors elect to have any of the Registrable Securities included in the registration
statement. The Investors shall provide such information to the Company at least fifteen
Business Days prior to the first anticipated filing date of such registration statement.

     (b) The Investors, by their acceptance of the Registrable Securities, agree to
cooperate with the Company as reasonably requested by the Company in connection with the
preparation and filing of a registration statement hereunder.

     2.9. Termination of Registration Statement. The Company’s obligation to maintain the
effectiveness of the registration statement filed pursuant to Section 2.1 shall terminate upon such
time that the Registrable Securities may be resold by all Holders without restriction under Rule
144 (as amended from time to time).

3. Miscellaneous.

     3.1. Successors and Assigns. Except as set forth in this Section 3.1, this Agreement
shall not be assignable by any Holder without the prior written consent of the Company. Prior
written consent will not be required for any assignment of this Agreement by a Holder to an
Affiliate assignee, or in connection with any transfer of at least seventy-five percent (75%) of
the Registrable Securities of such Holder; provided that such transfer provided that (i) the
Company is, within a reasonable period of time after such transfer, furnished with written notice
of the name and address of the Affiliate or other assignee and (ii) the Affiliate or other assignee
agrees in a written instrument satisfactory to the Company, to be bound by and subject to the terms
and conditions of this Agreement. Nothing in this Agreement, express or implied, is intended to
confer upon any party other than the parties hereto or their respective successors and permitted
assignees any rights, remedies, obligations or liabilities under or by reason of this Agreement,
except as expressly provided herein.

     3.2. Governing Law. This Agreement shall be governed by, and construed in accordance
with, the internal laws of the State of California without regard to the choice of law principles
thereof. Each of the parties hereto irrevocably submits to the exclusive jurisdiction of the
courts of the State of California located in Orange County and the United States District Court for
the Central District of California for the purpose of any suit, action, proceeding or judgment
relating to or arising out of this Agreement and the transactions contemplated hereby. Service of
process in connection with any such suit, action or proceeding may be served on each party hereto
anywhere in the world by the same methods as are specified for the giving of notices under this
Agreement. Each of the parties hereto irrevocably consents to the jurisdiction of any such court
in any such suit, action or proceeding and to the laying of venue in such court. Each party hereto
irrevocably waives any objection to the laying of venue of any such suit, action or

8

 

proceeding brought in such courts and irrevocably waives any claim that any such suit, action
or proceeding brought in any such court has been brought in an inconvenient forum. EACH OF THE
PARTIES HERETO WAIVES ANY RIGHT TO REQUEST A TRIAL BY JURY IN ANY LITIGATION WITH RESPECT TO THIS
AGREEMENT AND REPRESENTS THAT COUNSEL HAS BEEN CONSULTED SPECIFICALLY AS TO THIS WAIVER.

     3.3. Counterparts; Facsimile. This 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. This Agreement may also be executed via facsimile, which shall be
deemed an original.

     3.4. Titles and Subtitles. The titles and subtitles used in this Agreement are used
for convenience only and are not to be considered in construing or interpreting this Agreement.

     3.5. Notices. Unless otherwise provided, any notice required or permitted under this
Agreement shall be given in writing and shall be deemed effectively given as hereinafter described
(i) if given by personal delivery, then such notice shall be deemed given upon such delivery, (ii)
if given by telex or telecopier, then such notice shall be deemed given upon receipt of
confirmation of complete transmittal, (iii) if given by mail, then such notice shall be deemed
given upon the earlier of (A) receipt of such notice by the recipient or (B) three days after such
notice is deposited in first class mail, postage prepaid, and (iv) if given by an internationally
recognized overnight air courier, then such notice shall be deemed given one Business Day after
delivery to such carrier. All notices shall be addressed to the party to be notified at the
address as follows, or at such other address as such party may designate by ten days’ advance
written notice to the other party:

If to the Company:

CryoPort, Inc.

20382 Barents Sea Circle

Lake Forest, California 92630

Attention: Larry G. Stambaugh

Telephone No.: (949) 470-2300

Telecopier No.: (949) 470-2306

with a copy to (which copy shall not be deemed notice):

Mark R. Ziebell

Snell & Wilmer L.L.P.

600 Anton Boulevard

Suite 1400

Costa Mesa, California 92626

Telephone No.: (714) 427-7000

Telecopier No.: (714) 724-7799

9

 

If to the Stockholders:

to the addresses set forth on the signature pages to the Securities Purchase Agreement or that are contained in the Selling Agency Agreement between the Company and Emergent Financial Group, Inc.

     3.6. Amendments and Waivers. Any term of this Agreement may be amended and the
observance of any term of this Agreement may be waived (either generally or in a particular
instance and either retroactively or prospectively), only with the written consent of the Company
and the Stockholders. Any amendment or waiver effected in accordance with this paragraph shall be
binding upon each Holder of any Securities purchased under this Agreement at the time outstanding,
and the Company.

     3.7. Severability. Any provision of this Agreement that is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining provisions hereof but shall
be interpreted as if it were written so as to be enforceable to the maximum extent permitted by
applicable law, and any such prohibition or unenforceability in any jurisdiction shall not
invalidate or render unenforceable such provision in any other jurisdiction. To the extent
permitted by applicable law, the parties hereby waive any provision of law which renders any
provision hereof prohibited or unenforceable in any respect.

     3.8. Aggregation of Securities. All shares of Registrable Securities held or acquired
by Affiliates of a Holder shall be aggregated together for the purpose of determining the
availability of any rights under this Agreement of such Holder.

     3.9. Entire Agreement. This Agreement and the other Transaction Documents constitute
the entire agreement among the parties hereof with respect to the subject matter hereof and thereof
and supersede all prior agreements and understandings, both oral and written, between the parties
with respect to the subject matter hereof and thereof.

     3.10. Delays or Omissions. No delay or omission to exercise any right, power, or
remedy accruing to any party under this Agreement, upon any breach or default of any other party
under this Agreement, shall impair any such right, power, or remedy of such nonbreaching or
nondefaulting party, nor shall it be construed to be a waiver of or acquiescence to any such breach
or default, or to any similar breach or default thereafter occurring, nor shall any waiver of any
single breach or default be deemed a waiver of any other breach or default theretofore or
thereafter occurring. All remedies, whether under this Agreement or by law or otherwise afforded to
any party, shall be cumulative and not alternative.

[signature page follows]

10

 

     IN WITNESS WHEREOF, the parties have executed this Agreement or caused their duly authorized
officers to execute this Agreement as of the date first above written.

	 	 	 	 	 	 	 
	The Company:	 	CRYOPORT, INC.	 	 
	 

	 	 	 	 	 	 
	 

	 	By:
	 	 	 	 
	 	 	 	 	 	 	 
	 	 	Name: Larry G. Stambaugh	 	 
	 	 	Title: Chief Executive Officer	 	 

[Company’s Signature Page to the Registration Rights Agreement]

 

 

	 	 	 	 	 	 	 

	Stockholder and Placement Agent:
	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	Emergent Financial Group, Inc.	 	 
	 

	 	 	 	 	 	 
	 

	 	By:
	 	 	 	 
	 	 	 	 	 	 	 
	 	 	Name: Peter Voldness	 	 
	 	 	Title: Chief Executive Officer	 	 

[Emergent Financial Group’s Signature Page to the Registration Rights Agreement]

 

 

Stockholder:

If the Stockholder is an individual:

			
	     Signature:	 	
 

			
	     Name (printed):	 	
 

If the Stockholder is an entity:

			
	     Entity Name:	 	
 

			
	     Signature:	 	
 

			
	     Name (printed):	 	
 

			
	     Title of Signor:	 	
 

[Stockholder’s Signature Page to the Registration Rights Agreement]

 

 

Exhibit A

Plan of Distribution

     The selling stockholders, which as used herein includes donees, pledgees, transferees, or
other successors-in-interest selling shares of common stock or interests in shares of common stock
received after the date of this prospectus from a selling stockholder as a gift, pledge,
partnership distribution, or other transfer, may, from time to time, sell, transfer, or otherwise
dispose of any or all of their shares of common stock or interests in shares of common stock on any
stock exchange, market, or trading facility on which the shares are traded or in private
transactions. These dispositions may be at fixed prices, at prevailing market prices at the time
of sale, at prices related to the prevailing market price, at varying prices determined at the time
of sale, or at negotiated prices.

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

	 	•	 	ordinary brokerage transactions and transactions in which the broker-dealer solicits
purchasers;
	 
	 	•	 	block trades in which the broker-dealer will attempt to sell the shares as agent,
but may position and resell a portion of the block as principal to facilitate the
transaction;
	 
	 	•	 	purchases by a broker-dealer as principal and resale by the broker-dealer for its
account;
	 
	 	•	 	an exchange distribution in accordance with the rules of the applicable exchange;
	 
	 	•	 	privately negotiated transactions;
	 
	 	•	 	short sales effected after the date the registration statement of which this
Prospectus is a part is declared effective by the SEC;
	 
	 	•	 	through the writing or settlement of options or other hedging transactions, whether
through an options exchange or otherwise;
	 
	 	•	 	broker-dealers may agree with the selling stockholders to sell a specified number of
such shares at a stipulated price per share;
	 
	 	•	 	a combination of any such methods of sale; and
	 
	 	•	 	any other method permitted by applicable law.

A-1

 

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

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

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

     The selling stockholders also may resell all or a portion of the shares in open market
transactions in reliance upon Rule 144 under the Securities Act of 1933, as amended, provided that
they meet the criteria and conform to the requirements of that rule.

     Any underwriters, broker-dealers, or agents that participate in the sale of the common stock
or interests therein may be “underwriters” within the meaning of Section 2(11) of the

A-2

 

Securities Act. Any discounts, commissions, concessions, or profit they earn on any resale of
the shares may be underwriting discounts and commissions under the Securities Act.

     To the extent required, the shares of our common stock to be sold, the names of the selling
stockholders, the respective purchase prices and public offering prices, the names of any agent,
dealer, or underwriter, any applicable commissions or discounts with respect to a particular offer
will be set forth in an accompanying prospectus supplement or, if appropriate, a post-effective
amendment to the registration statement that includes this prospectus.

     In order to comply with the securities laws of some states, if applicable, the common stock
may be sold in these jurisdictions only through registered or licensed brokers or dealers. In
addition, in some states the common stock may not be sold unless it has been registered or
qualified for sale or an exemption from registration or qualification requirements is available and
is complied with.

     We have advised the selling stockholders that the anti-manipulation rules of Regulation M
under the Exchange Act may apply to sales of shares in the market and to the activities of the
selling stockholders and their affiliates. In addition, to the extent applicable we will make
copies of this prospectus (as it may be supplemented or amended from time to time) available to the
selling stockholders for the purpose of satisfying the prospectus delivery requirements of the
Securities Act. The selling stockholders may indemnify any broker-dealer that participates in
transactions involving the sale of the shares against certain liabilities, including liabilities
arising under the Securities Act.

     We have agreed to indemnify the selling stockholders against liabilities, including
liabilities under the Securities Act and state securities laws, relating to the registration of the
shares offered by this prospectus.

     We have agreed with the selling stockholders to keep the registration statement of which this
prospectus constitutes a part effective until the earlier of (1) such time as all of the shares
covered by this prospectus have been disposed of pursuant to and in accordance with the
registration statement or (2) the date on which the shares may be sold without restriction pursuant
to Rule 144 of the Securities Act.

A-3

 

Exhibit B

CryoPort, Inc.

Selling Stockholder Questionnaire

     The undersigned beneficial owner (the “Selling Stockholder”) of common stock (including common
stock which is issuable to the Selling Stockholder upon exercise of certain warrants, the
“Registrable Securities”) of CryoPort, Inc. (the “Company”) understands that the Company has filed
or intends to file with the Securities and Exchange Commission (the “Commission”) one or more
registration statements for the registration and resale of the Registrable Securities, in
accordance with the terms of the Registration Rights Agreement, dated as of _________________, 2011
(the “Registration Rights Agreement”), among the Company and the Investors named therein. A copy
of the Registration Rights Agreement is available from the Company upon request at the address set
forth below. All capitalized terms used and not otherwise defined herein shall have the meanings
ascribed thereto in the Registration Rights Agreement.

     The undersigned hereby provides the following information to the Company and represents and
warrants that such information is accurate:

1. Name.

     (a) Full legal name of Selling Stockholder:

 

     (b) Full legal name of registered holder of the Registrable Securities listed in Item 3 below
(if not the same as (a) above):

 

     (c) If the registered holder of the Registrable Securities listed in Item 3 below is not a
natural person, the full legal name of Natural Control Person (which means a natural person who
directly or indirectly alone or with others has power to vote or dispose of such securities):

 

B-1

 

     (d) State of organization or domicile of Selling Stockholder:

 

2. Address for Notices to Selling Stockholder:

 

 

 

			
	Telephone:	 	
 

			
	Fax:	 	
 

			
	Contact Person:	 	
 

			
	Email:	 	
 

			
	Note:	 	By providing an email address, the undersigned hereby consents to receipt of
notices by email.

3. Beneficial Ownership of Registrable Securities:

Type and principal amount of Registrable Securities beneficially owned by the
undersigned:

1. _________________ shares of common stock.

2. Warrants to purchase _________________ shares of common stock.

4. Broker-Dealer Status:

     (a) Are you a broker-dealer?

Yes o          No o

Note: If yes, the Commission’s staff has indicated that you should be identified as an
underwriter in any registration statement filed with respect to the Registrable Securities.

     (b) Are you an affiliate of a broker-dealer?

Yes o          No o

     (c) If you are an affiliate of a broker-dealer, do you certify that you bought the Registrable
Securities in the ordinary course of business, and at the time of the purchase of the

B-2

 

Registrable Securities to be resold, you had no agreements or understandings, directly or
indirectly, with any person to distribute the Registrable Securities?

Yes o          No o

Note: If you answered yes to the question in Item 4(b) and no to the question in Item 4(c),
the Commission’s staff has indicated that you should be identified as an underwriter in any
registration statement filed pursuant to the Registration Rights Agreement.

     (d) If you checked “Yes” to either of the questions in Item 4(a) or Item 4(b) above, please
state (i) the name of any such broker-dealer, (ii) the nature of your affiliation or association
with such broker-dealer, (iii) information as to such broker-dealer’s participation in any capacity
in the offering or the original placement of the Securities, (iv) the number of shares of equity
securities or face value of debt securities of the Company owned by you, (v) the date such
securities were acquired, and (vi) the price paid for such securities.

	 	 	 	 	 	 	 	 	 	 	 

	(i)
	 	 	 	 	 	 	 	 	 	 
	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	(ii)
	 	 	 	 	 	 	 	 	 	 
	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	(iii)
	 	 	 	 	 	 	 	 	 	 
	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	(iv)

	 	 
	 	(v)
	 	 
	 	(vi)
	 	 
	 	 	 	 	 	 	 	 	 	 	 

5. Beneficial Ownership of Other Securities of the Company Owned by the Selling Stockholder.

     Except as set forth below in this Item 5, the undersigned is not the beneficial or
registered owner of any securities of the Company other than the Registrable Securities
listed above in Item 3.

Type and amount of securities of the Company beneficially owned by the undersigned
other than the Registrable Securities listed above in Item 3 (or if “None,”
please so state):

1. _________________ shares of common stock.

2. Warrants to purchase _________________ shares of common stock.

3.____________________.

B-3

 

6. Relationships with the Company:

     Except as set forth below in this Item 6, neither the undersigned nor any of its
affiliates, officers, directors or principal equity holders (owners of 5% of more of the
equity securities of the undersigned) has held any position or office or has had any other
material relationship with the Company (or its predecessors or affiliates) during the past
three years:

 

 

7. Plan of Distribution:

     Except as set forth below, the undersigned intends to distribute the Registrable
Securities listed above in Item 3 only as set forth in Exhibit A to the Registration Rights
Agreement (if at all):

 

 

     The undersigned agrees to promptly notify the Company of any inaccuracies or changes in the
information provided herein that may occur subsequent to the date hereof and prior to the effective
date of any applicable registration statement filed pursuant to the Registration Rights Agreement.

     By signing below, the undersigned consents to the disclosure of the information contained
herein in its answers to Items 1 through 7 and the inclusion of such information in each
registration statement filed pursuant to the Registration Rights Agreement and each related
prospectus. The undersigned understands that such information will be relied upon by the Company
in connection with the preparation or amendment of any such registration statement and the related
prospectus.

     By signing below, the undersigned acknowledges that it understands its obligation to comply,
and agrees that it will comply, with the provisions of the Exchange Act and the rules and
regulations thereunder, particularly Regulation M. The undersigned also acknowledges that

B-4

 

it understands that the answers to this Questionnaire are furnished for use in connection with
registration statements filed pursuant to the Registration Rights Agreement and any amendments or
supplements thereto filed with the Commission pursuant to the Securities Act of 1933, as amended.

     I confirm that, to the best of my knowledge and belief, the foregoing statements (including
without limitation the answers to this Questionnaire) are correct.

     IN WITNESS WHEREOF the undersigned, by authority duly given, has caused this Questionnaire to
be executed and delivered either in person or by its duly authorized agent.

If the beneficial owner is an individual:

			
	     Signature:	 	
 

			
	     Name (printed):	 	
 

If the beneficial owner is an entity:

			
	     Entity Name:	 	
 

			
	     Signature:	 	
 

			
	     Name (printed):	 	
 

			
	     Title of Signor:	 	
 

Dated:                                        

PLEASE FAX A COPY OF THE COMPLETED AND EXECUTED QUESTIONNAIRE, AND RETURN THE ORIGINAL BY OVERNIGHT
MAIL, TO:

CryoPort, Inc.

20382 Barents Sea Circle

Lake Forest, California 92630

Attention: Larry G. Stambaugh

Telephone No.: (949) 470-2300

Telecopier No.: (949) 470-2306

with a copy to:

Mark R. Ziebell, Esq.

Snell & Wilmer L.L.P.

600 Anton Boulevard

Suite 1400

Costa Mesa, California 92626

Telephone No.: (714) 427-7000

Telecopier No.: (714) 427-7799

B-5exv10w34

Exhibit 10.34

SELLING AGENCY AGREEMENT

FOR CRYOPORT, INC. COMMON STOCK AND WARRANTS

     This Selling Agency Agreement is entered into by and between CRYOPORT, INC., a Nevada
corporation (the “Company”), and EMERGENT FINANCIAL GROUP, INC. (the “Selling Agent”) as of
February 4, 2011.

     1. DESCRIPTION OF OFFERING. The Company proposes to issue in a private placement to
accredited investors only (the “Investors”) units consisting of a share of the Company’s common
stock and a warrant to purchase an additional share of such stock (the “Securities”). The offering
price for the Units will be $0.70 per Unit and the exercise price for the warrant will be $0.77 per
share. The Company contemplates an aggregate of approximately $7,500,000 of the Securities being
offered (the “Offering”). The Company is subject to certain obligations to provide notice to prior
subscribers for shares of common stock and warrants issued by the Company of this Offering so that
such prior investors (the “Rights Holders”) may elect to acquire Units upon the same terms as is
contemplated in this Offering. In the event that aggregate subscriptions for the Offering and the
exercise by the Rights Holders results in the tender of aggregate gross combined proceeds to the
Company in excess of $8,000,000, the Company may decline to accept such excess proceeds and the
declination shall be proportionately assigned to the subscriptions in this Offering and the
exercise by the Rights Holders. With respect to the Rights Holders, the declination shall be made
on a prorata basis with respect to the exercise of the rights. With respect to the declination
allocated to subscriptions in the Offering, the Selling Agent shall allocate it among the
subscribers in any manner in which the Selling Agent shall determine.

     2. APPOINTMENT OF AGENT. On the basis of the warranties, representations and
agreements of the parties hereto, and the satisfaction of the conditions set forth herein, the
Company hereby appoints the Selling Agent, and the Selling Agent hereby accepts such appointment,
to act as the Company’s agent in connection with the offer and sale of the Securities, on a best
efforts basis, which appointment will be for the period set forth in Section 6 below. The Selling
Agent will use its best efforts to solicit the subscription for the Securities from investors who
are accredited investors. Notwithstanding the foregoing, in the event that the Selling Agent has
been unable to secure subscriptions from Investors for a minimum of $2,000,000 by January 31, 2011,
the Company reserves the right, in its sole and absolute discretion, to appoint one or more
additional selling agents in connection with the Offering.

     3. REPRESENTATIONS AND WARRANTIES OF THE COMPANY. The Company represents and warrants
to the Selling Agent as follows:

          (a) The Company has provided to the Selling Agent a Confidential Offering Term Sheet (the
“Term Sheet”) with respect to the Offering together with

1

 

subscription documents for subscription of the Securities (such Term Sheet, subscription
documents and the publicly available reports regarding the Company filed with the Securities and
Exchange Commission are referred to herein as the “Offering Documents”) for an offering under Rule
506 to purchasers that are all “accredited investors” within the meaning of Regulation D under the
Securities Act of 1933 (the “Act”). The Company will also prepare and, subject to prior review by
the Selling Agent’s legal counsel, file a Form D and all other documents required to comply with
applicable exemptions from federal registration and state blue sky qualification with the
Securities and Exchange Commission and blue sky authorities of such states as may be requested by
the Selling Agent. The Offering Documents and Form D will be subject to the Selling Agent’s
approval.

          (b) As of the Commencement Date of the solicitation (as defined in Section 6 below) and until
and as of the date of each Closing (as hereinafter defined), the Offering Documents will (i)
contain all material statements which are required to be made therein in accordance with the Act
and the Rules and Regulations for an offering under Rule 506 to purchasers that are all “accredited
investors” within the meaning of Regulation D; (ii) in all material respects conform to the
applicable requirements of the Act and of the Rules and Regulations adopted under the Act (the
“Rules and Regulations”) for an offering under Rule 506 to purchasers that are all “accredited
investors” within the meaning of Regulation D; and (iii) not include any untrue statement of a
material fact or omit to state any material fact required to be stated therein or necessary to make
the statements therein not misleading, provided that the representations and warranties in this
paragraph shall not apply to statements or omissions made in reliance upon written information
furnished to the Company by the Selling Agent expressly for use in preparation of the Offering
Documents.

          (c) The Company is duly organized and validly existing as a corporation in good standing under
the laws of the State of Nevada, with full power and authority to own its properties and conduct
its business, as described herein and in the Memorandum.

          (d) The Company is duly qualified to do business as a foreign entity and is in good standing
in all states or jurisdictions in which the ownership or lease of its property or the conduct of
its business requires such qualification and the failure to be so qualified would have a materially
adverse effect on the Company’s business.

          (e) The Company has full legal power, right and authority to enter into this Agreement. This
Agreement has been duly authorized, executed and delivered on behalf of the Company and it is the
valid and binding obligation of the Company, subject, as to enforcement, to applicable bankruptcy,
insolvency, reorganization, moratorium and other laws affecting the rights of creditors generally,
to the exercise of judicial discretion as to the availability of equitable remedies such as
specific performance and injunction and subject, as to enforcement of the indemnification
provisions, to limitations under applicable securities laws.

2

 

          (f) Except as is set forth in the Offering Documents, the Company has all licenses,
certificates, permits and other approvals from governmental authorities necessary for the conduct
of its business as it is currently being carried on and as is described in the Memorandum, except
those which would not have a material adverse effect on the Company if not obtained.

          (g) Except as described in the Offering Documents, on the date of each Closing, the Company
will own or possess all patents, patent applications, trademarks, service marks, trade names,
trademark registrations, service mark registrations, copyrights, licenses, inventions, trade
secrets and rights necessary for the conduct of its business as it is currently being carried on
and as is anticipated being carried on, except those which would not have a material adverse effect
on the business of the Company if not obtained, and has not received any notice of conflict with
the asserted rights of others in respect thereof. Except as described in the Offering Documents,
to the best of the Company’s knowledge after due inquiry previously performed in the ordinary
course of business, no name which the Company uses and no other aspect of the business of the
Company involves or gives rise to any infringement of, or license or similar fees for, any patents,
patent applications, trademarks, service marks, trade names, trademark registrations, service mark
registrations, copyrights, licenses, inventions, trade secrets or other similar rights of others.

          (h) Since the respective dates as of which information is given in the Offering Documents and
other than as herein or therein contemplated (i) the Company has not incurred any material
liabilities or obligations, contingent or otherwise, not in the ordinary course of business, (ii)
the Company has not paid or declared any dividend or other distribution with respect to its
outstanding equity interests, (iii) there has not been any change in the capitalization or any
material increase in the long-term debt of the Company, or any issuance of equity interests in the
Company or of options, warrants, or rights to purchase capital stock of the Company, with the
exception of warrants or S-8 shares issued in lieu of cash payments, for services, bonuses or as
part of compensation to board members, advisory board members, key employees, consultants and
employees of consultants, prior equity investors and senior debt holders as principle or interest
payments, (iv) no material loss or damage (whether or not insured) to the property of the Company
has been sustained, (v) no material legal or governmental proceeding, domestic or foreign,
affecting the Company or the transactions contemplated by this Agreement as been instituted or
threatened; and (vi) there has not been any material adverse change in the business, condition
(financial and other) or properties of the Company.

          (i) The Company is not in breach, default or violation of, and the consummation of the
transactions contemplated will not result in any breach of, any of the terms or conditions of, or
constitute a default or violation under, (i) the articles of incorporation, bylaws or other
governing organizational of the Company, (ii) any material indenture, agreement or other instrument
to which the Company is now a party,

3

 

or, (iii) except for such breaches, defaults or violations which would not have a material
adverse effect on the Company, any law or any order, rule or regulation applicable to the Company
of any court or of any federal or state regulatory body or administrative agency having
jurisdiction over the Company or its property.

          (j) No approval, authorization, consent or order of any governmental or public board or body,
other than in connection with or in compliance with the provisions of the Act and the securities
laws of various jurisdictions, is legally required for the sale of the Securities by the Company.

          (k) Except as described in the Offering Documents, there are no pending, threatened or
contemplated actions, suits or proceedings before or by any court or governmental agency, authority
or body, or any arbitrator to which the Company is a party or of which the business or property of
the Company is subject, which are not ordinary, routine and incidental to the business of the
Company or which might result in any material adverse change in the business condition (financial
and other) or properties of the Company.

          (l) As of the date hereof, the authorized capitalization of the Company consists of
250,000,000 shares of common stock. As of the date hereof the issued and outstanding
capitalization of the Company consists of 13,682,673 shares of common stock. All outstanding
securities of the Company have been duly authorized, validly issued and fully paid and are
non-assessable and have been issued pursuant to valid exemptions from the registration requirements
of the Act and appropriate state blue sky laws. The capitalization of the Company conforms to the
description thereof contained under the Offering Documents. The Company will immediately notify
the Selling Agent in writing of any changes to the information set forth above.

          (m) Except as described in the Offering Documents or as contemplated thereby, there are (i) no
other outstanding warrants, options, convertible securities, rights to subscribe for or purchase
any capital or other securities from the Company, (ii) so far as known to the Company, no voting
trusts or voting agreements among, or irrevocable proxies executed by, shareholders of the Company,
(iii) no existing rights of any person or shareholder to require the Company to register any
securities of the Company or to participate with the Company in any registration by the Company of
its common stock; (iv) so far as known to the Company, no agreement among shareholders of the
Company providing for the purchase or sale of common stock of the Company, and (v) no obligations
(contingent or otherwise) of the Company to purchase, redeem, or otherwise acquire common stock of
the Company or any interest therein or pay any dividend or make any other distribution in respect
thereof.

          (n) The Company has good and marketable title, free and clear of all liens, encumbrances and
equities, and of all charges or claims, to all of the real and personal property owned by it,
except as described in the Offering Documents and except

4

 

liens, encumbrances and equities, and charges or claims, which are not material in the
aggregate and do not materially affect the value of such property or interfere with the conduct of
its business. Except as stated in the Offering Documents, the Company has valid and binding leases
to all of the real and personal property described in the Offering Documents as under lease to it
with such exceptions as do not materially interfere with the conduct of its business.

          (o) The Company has filed all necessary federal, state, and foreign income and franchise tax
returns and has paid all taxes shown as due thereon, and the Company has received no notice of any
material tax deficiency that has been asserted against the Company.

          (p) The Company has all requisite power and authority to issue, sell and deliver the
Securities. The Company has duly taken all required action for the due and proper authorization,
issuance, sale and delivery of such shares. No preemptive rights of shareholders of the Company
exist with respect to the issuance and sale of shares by the Company. No security holder of the
Company possesses any registration rights, except as described in the Offering Documents.

          (q) The Company has no subsidiaries, with the exception of CryoPort Systems, Inc., its
operating company, which is wholly owned, and is not affiliated, with any other company or business
entity, except as explicitly stated in the Offering Documents.

          (r) The historical financial statements of the Company, together with the related schedules
and notes, set forth in the Offering Documents, fairly present the financial position and the
results of operations of the Company at the respective dates and for the respective periods to
which they apply. All historical financial statements of the Company set forth in the Offering
Documents have been prepared in accordance with generally accepted accounting principles,
consistently applied throughout the periods indicated, except as may be otherwise stated therein
and except as the financial statements for the interim periods are subject to year-end adjustments.

          (s) Except as disclosed in the Offering Documents and for the rights of the Selling Agent as
set forth in this Agreement, no person is entitled, directly or indirectly, to compensation from
the Company or the Selling Agent for services as a finder in connection with the transactions
contemplated by this Agreement.

          (t) No labor disturbance by the employees of the Company exists or, to the Company’s
knowledge, is imminent which could reasonably be expected to have a material adverse effect on the
conduct of the business, operations, financial condition or income of the Company.

5

 

          (u) The Company has no defined benefit pension plan or other plan promulgated pursuant to, or
which is intended to comply with the provisions of, the Employee Retirement Income Security Act of
1974, except as disclosed in the Offering Documents.

          (v) The Company maintains insurance, which is in full force and effect, of the types and in
the amounts adequate for its business and in line with the insurance maintained by similar
companies and businesses.

          (w) The Company has not sold any securities in violation of the Act or any state securities
laws and the Company has not engaged in any “general advertising or solicitation” (as such term is
interpreted under the Act) in connection with the Offering.

          (x) Subject to the Selling Agent’s compliance with applicable securities laws, the offer,
sale, issuance and delivery of the Securities are or will be in compliance with the requirements
for the use of Rule 506 of Regulation D promulgated under the Act for an offering to purchasers
that are all “accredited investors” within the meaning of Regulation D and exempt from the
registration and prospectus delivery requirements of the Act.

     4. FURTHER AGREEMENTS OF THE COMPANY. The Company covenants and agrees as follows:

          (a) The Company will promptly deliver to the Selling Agent and its counsel copies of the
Offering Documents and each amendment or supplement thereto. The Selling Agent is authorized on
behalf of the Company to use and distribute copies of the Offering Documents in connection with the
solicitation of the Subscriptions in the Offering as, and to the extent, permitted by federal and
applicable state securities laws.

          (b) The Company will promptly notify the Selling Agent, by telephone and in writing of (i) the
issuance of any stop order suspending the sale of the Securities, or of the institution or notice
of intended institution of any action or proceeding for that purpose, and (ii) any other
communication directed to the Company by any public authority relating to the possible suspension
of the qualification of the offer and sale of the Securities in any state.

          (c) Until the Termination Date, if any event relating to or affecting the Company, or of which
the Company shall be advised in writing by the Selling Agent, shall occur as a result of which it
is necessary, in the opinion of counsel for the Company or the Selling Agent, to supplement or
amend the Offering Documents in order to make the Offering Documents not misleading in light of the
circumstances existing at the time it is delivered to a potential purchaser of the Securities, the
company will forthwith prepare an amended or supplemented Offering Documents (in form satisfactory
to counsel for the Selling Agent) so that the amended or supplemented Offering Documents

6

 

will not contain any untrue statement of a material fact or omit to state any material fact
necessary in order to make the statements therein, in the light of the circumstances existing at
the time the Offering Documents are so amended or supplemented, not misleading.

          (d) The Company shall pay, or cause to be paid, all expenses incident to the performance of
its obligations under this Agreement, including, but not limited to, all expenses incident to the
delivery of the Securities, the fees and expenses of counsel and accountants for the Company, the
cost of filing the Form D and amendments thereto, and the cost of all blue sky compliance and
filings.

     5. REPRESENTATIONS, WARRANTIES AND AGREEMENTS OF THE SELLING AGENT. The Selling Agent
hereby represents and warrants to the Company as follows:

          (a) The Selling Agent is a member in good standing of the Financial Industry Regulatory
Authority (“FINRA”) and will maintain such good standing status during the term of this Agreement.
No proceedings are pending or, to the best of the Selling Agent’s knowledge, threatened that, in
any way, may revoke or limit the Selling Agent’s authority to commence the Offering, including, but
not limited to, any proceedings or actions by FINRA, the Securities and Exchange Commission, the
Minnesota Department of Commerce or any other applicable state blue sky authorities.

          (b) The Selling Agent is a licensed broker-dealer in good standing under the Securities
Exchange Act of 1934 and the rules and regulations promulgated thereunder, and the laws and
regulations of Minnesota and such other states where the Securities may be offered or sold by the
Selling Agent and the Company will not be disqualified from relying on Rule 505 of Regulation D by
reason of the application of Rule 505(b)(2)(iii) to the Offering due to any act or omission of the
Selling Agent or any of its directors, officers or employees. The representatives employed by or
contracting with the Selling Agent are duly licensed by FINRA, and are duly licensed in each of the
states in which offers, offers for sale, or sales of the Securities will be made.

          (c) The Selling Agent will not solicit subscriptions by any form of general solicitation or
general advertising within the meaning of Rule 502(c) or Regulation D and will not solicit
subscriptions, other than on the basis of the Offering Documents. The Selling Agent acknowledges
that its solicitation efforts are to be directed to holders the Selling Agent believes are
accredited investors, as defined in Rule 501 of Regulation D.

          (d) The Selling Agent agrees to provide to each person or investor solicited by the Selling
Agent a copy of the Term Sheet. Each person or investor solicited by the Selling Agent is aware of
the general range of compensation that Selling Agent receives in offerings similar to this
Offering. In connection with the Offering, the

7

 

Selling Agent will not use any solicitation material other than the Offering Documents and
will not represent to any person or investor any material facts relating to the Offering, the
Company or the business of the Company, including its future prospects, unless such facts are
contained in the Offering Documents or have been provided to the Selling Agent in writing by the
Company specifically for such purpose.

          (e) The Selling Agent has full power, right and authority to enter into this Agreement, this
Agreement has been duly authorized, executed and delivered by the Selling Agent and it is the valid
and binding obligation of the Selling Agent, subject, as to enforcement, to applicable bankruptcy,
insolvency, reorganization, moratorium and other laws affecting the rights of creditors generally,
to the exercise of judicial discretion as to the availability of equitable remedies such as
specific performance and injunction, and subject, as to enforcement of the indemnification
provisions, to limitations under applicable securities laws.

     6. SOLICITATION PERIOD. Subject to applicable law, the Selling Agent shall commence
the solicitation of prospective investors as soon as is reasonably practicable following the date
on which the Term Sheet is approved for release to potential investors by both parties to this
Agreement (the “Commencement Date”) and, unless otherwise terminated hereunder, shall continue to
solicit such exercise until the February 14, 2011.

     7. DELIVERY, PAYMENT AND CLOSING.

          (a) The Selling Agent shall require the subscribers in the Offering to complete the
subscription documentation supplied for that purpose by the Company.

          (b) All proceeds form the sale of the Securities shall be deposited with an escrow agent
pursuant to the terms of a proceeds escrow agreement among such escrow agent, the Company and the
Selling Agent pending delivery to the Company upon acceptance of the subscription by the Company in
one or more closings or return to the subscriber if the subscription is not accepted.

          (c) The Company shall promptly deliver stock certificates and Warrants to the subscribers
solicited by Selling Agent promptly following each closing and provide to Selling Agent copies of
such certificates and Warrants and the transmittal to the subscriber.

     8. SOLICITATION COMPENSATION.

          (a) The Selling Agent shall receive from the Company ten percent (10%) of the gross proceeds
received from the acceptance of subscriptions solicited by Selling Agent as a compensation for
acting as selling agent. The Company also agrees to pay the Selling Agent a corporate finance fee
payable in cash upon at the end of the

8

 

Offering equal to three percent (3%) of the gross proceeds received by the Company from
Investors solicited by the Selling Agent. Such compensation is to be due and payable by CryoPort
to the Selling Agent in immediately available funds upon the acceptance of the subscription.

          (b) Promptly following the completion of the Offering, the Selling Agent (or its designees)
shall receive a warrant to purchase a number of shares of the Company equal to ten percent (10%) of
the aggregate number of shares sold or purchasable upon exercise of the Warrant included in the
Securities with respect to subscriptions solicited by the Selling Agent in the Offering. Such
warrant shall have a term of expiring five years following issuance, provide an exercise price per
share equal to the exercise price of the Warrant included in the Securities and include a cashless
exercise provision. The Company acknowledges that the Selling Agent will in the future transfer
the warrant granted to it pursuant to the terms hereof to its various brokers that participated in
the Offering. The Company hereby agrees, to the extent permitted by applicable law, to permit the
transfer of such warrant to such brokers by the Selling Agent and to work with the Selling Agent in
facilitating such transfer.

          (c) The Company shall also reimburse the Selling Agent for the costs incurred by the Selling
Agent for legal fees and expenses related to the Offering, including the preparation of this
Agreement. Such reimbursement shall not exceed the sum of $5,000 and shall be made promptly after
submission by the Selling Agent to the Company of evidence of the expense.

          (d) The Company and the Selling Agent do not contemplate that the Selling Agent will engage in
any solicitation of the Rights Holders. Accordingly, absent an express modification of this
Agreement, the Selling Agent will not receive any compensation with respect to the acquisition of
shares or warrants by such Rights Holders pursuant to their exercise of their rights.

     9. INDEMNIFICATION.

          (a) The Company (to the extent that it is not limited by judgment of a proper court of law
under the Act) shall indemnify and hold harmless the Selling Agent, and each person who controls
(as such term is defined by Rule 405 under the Act) the Selling Agent within the meaning of the
Act, against any losses, claims, damages or liabilities, joint and several, to which the Selling
Agent or such controlling persons may become subject, under the Act or otherwise, insofar as such
losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based
upon (i) any untrue statement or alleged untrue statement of any material fact contained in the
Offering Documents, or any amendment or supplement thereto, 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 to make the statements therein not misleading, or (ii) any inaccuracy in, or breach of,
the representations and warranties of the Company contained herein or

9

 

any failure of the Company to perform its obligations hereunder or under law; and the Company
will reimburse the Selling Agent and each such controlling person for any legal or other expenses
reasonably incurred by such Selling Agent or such controlling person in connection with
investigating or defending any such loss, claim, damage, liability or action, as incurred;
provided, however, that the Company will not be liable in any such case to the extent that such
loss, claim, damage or liability arises out of or is based upon any untrue statement or alleged
untrue statement or omission or alleged omission made in reliance upon and in conformity with
written information furnished to the Company by the Selling Agent specifically fur use in the
preparation of the Offering Documents or any additions or supplements thereto. This indemnity
agreement will be in addition to any liability which the Company may otherwise have.

     The foregoing indemnity agreement is subject to the condition that, insofar as it relates to
any untrue statement, alleged untrue statement, omission or alleged omission made in any form of
the Offering Documents but eliminated or remedied by amendment or supplement to the Offering
Documents, such indemnity agreement shall not inure to the benefit of the Selling Agent or each
such controlling person with respect to any loss, liability, claim or damage asserted by any person
who purchased the Securities which are the subject thereof, if the Offering Documents was so
amended or supplemented prior to such acceptance of the subscription.

          (b) The Selling Agent (to the extent that it is not limited by judgment of a proper court of
law under the Act), will indemnify and hold harmless the Company, each person who controls (as such
term is defined under Rule 405 under the Act) the Company within the meaning of the Act, each of
its directors, and each of its officers, against any losses, claims, damages or liabilities, joint
and several, to which the Company, any such controlling person, director or officer may become
subject under the act or otherwise, insofar as such losses, claims, damages or liabilities (or
actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue
statement of any material fact contained in the Offering Documents, or arise out of or are based
upon the omission or the alleged omission to state therein a material fact required to be stated
therein or necessary to make the statements therein not misleading, in each case to the extent, but
only to the extent, that such untrue statement or alleged untrue statement or omission or alleged
omission is made in the Offering Documents, in reliance upon and in conformity with written
information furnished to the Company by the Selling Agent specifically for use in the preparation
thereof; and the Selling Agent will reimburse the company, any such controlling person, director or
office for any legal or other expenses reasonably incurred by them in connection with investigating
or defending any such loss, claim, damage, liability or action, as incurred. This indemnity
agreement will be in addition to any liability which the Selling Agent may otherwise have.

          (c) Promptly after receipt by an indemnified party under this Section of notice of the
commencement of any action, such indemnified party will, if a claim in

10

 

respect thereof is to be made against any indemnifying party under the Section, notify each
indemnifying party in writing of the commencement thereof. The indemnification provided for in
this Section 9 shall not be available to any party who fails to so notify each indemnifying party
to the extent that the indemnifying party to whom notification was not given was unaware of the
action to which the notification would have related and was prejudiced by the failure to notify;
provided, however, that the omission to so notify each indemnifying party will not relieve any
indemnifying party from any liability which it may have to any indemnified party otherwise than
under this section. In case any such action is brought against any indemnified party, and it
notifies an indemnifying party of the commencement thereof, the indemnifying party will be entitled
to participate in, and, to the extent that it may wish, jointly with any other indemnifying party
similarly notified, to assume the defense thereof, with counsel chosen by the indemnifying party
and reasonably satisfactory to the indemnified party, and after notice from the indemnifying party
to such indemnified party of its election so to assume the defense thereof, and selection of
counsel satisfactory to the indemnified party, the indemnifying party shall not be liable to such
indemnified party under this section/ for any legal or other expenses subsequently incurred by such
indemnified party in connection with the defense thereof other than reasonable costs of
investigation.

          (d) As an interim measure during the pendency of any claim, action, investigation, inquiry or
other proceeding as to which indemnification hereunder is sought, the Company will reimburse the
Selling Agent on a monthly basis for all reasonable legal fees or other expenses incurred in
connection with investigating or defending any such claim, action, investigation, inquiry or other
proceeding, notwithstanding the absence of a judicial determination as to the propriety and
enforceability of the Company’s obligation to reimburse the Selling Agent for such expenses and the
possibility that such payments might later be held to have been improper by a court of competent
jurisdiction. To the extent that any such interim reimbursement payment is ultimately held to have
been improper, the Selling Agent shall promptly return it to the party or parties that made such
payment, together with interest, compounded daily, determined on the basis of the base rate (or
other commercial lending rate for borrowers of the highest credit standing) announced from time to
time by Wells Fargo Bank (“Prime Rate”). Any such interim reimbursement payments which are not
made to the Selling Agent within 30 days of a request for reimbursement shall bear interest at the
Prime Rate from the date of such request.

          (e) In order to provide for just and equitable contribution in circumstances in which the
indemnification provided for in Sections 9(a) or 9(b) is for any reason held, by a court of
competent jurisdiction, to be unenforceable as to any party entitled to indemnity, the Company and
the Selling Agent, or any controlling person of the foregoing, shall contribute to the aggregate
losses, claims, damages and liabilities (including any investigation, legal and other expenses
incurred in connection with, and any amount paid in settlement of, any action, suit or proceeding
or any claims asserted) to

11

 

which the Company and the Selling Agent, or any controlling person of the foregoing, may be
subject (i) in such proportion as is appropriate to reflect the relative benefits received by the
Company, on the one hand, and the Selling Agent on the other form the offering contemplated hereby
or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such
proportion as is appropriate to reflect not only the relative benefits referred to in clause (i)
above but also the relative fault of the Company, on the one hand, and of the Selling Agent on the
other in connection with the statements or omissions which resulted in such loss, claim, damage,
liability or expense, as well as any other relevant equitable considerations. The relative
benefits received by the Company, on the one hand, and the Selling Agent on the other shall be
deemed to be in the same proportion as the total net proceeds from the offering (before deducting
expenses) received by the Company bear to the total sales commissions received by the Selling
Agent. The relative fault of the Company, on the one hand, and of the Selling Agent on the other
shall be determined by reference to, among other things, whether the untrue or alleged untrue
statement of a material fact or the omission or alleged omission to state a material fact relates
to information supplied by the Company or by the Selling Agent and the parties’ relative intent,
knowledge, access to information and opportunity to correct or prevent such statement or omission.
No person guilty of fraudulent misrepresentation or guilty of misstating or misrepresenting a
material fact or failing to state a material fact shall be entitled to contribution, as to any
liability arising from such fraudulent misrepresentation or omission, from any person who was not
guilty of such fraudulent or other misrepresentation or omission.

     10. TERMINATION. The Selling Agent shall have the right to terminate its obligations
under this Agreement by giving the Company notice as hereinafter specified at any time on or prior
to the termination of the Offering if the Company shall have failed, refused or been unable to
perform any agreement on its part to be performed, if there shall have been a breach of any
warranty or representation of the Company contained herein, or because any other conditions of the
Selling Agent’s obligations set forth herein are not fulfilled. The Company shall have the right
to terminate this Agreement by giving the Selling Agent notice as hereinafter specified at any time
on or prior to termination of the Offering if the Selling Agent shall have failed, refused or been
unable to perform any agreement on its part to be performed, if there shall have been a breach of
any warranty or representation of the Selling Agent contained herein, or because any other
conditions of the Company’s obligations set forth herein are not fulfilled. Except as provided in
Section 11, any such termination shall be without liability of any party to any other party.

     11. REPRESENTATIONS AND AGREEMENTS TO SURVIVE. The respective covenants, agreements,
representations and warranties of the Company and the Selling Agent hereunder, as set forth in, or
made pursuant to this Agreement, shall remain in full force and effect regardless of any
investigation made by or on behalf of any such party or any of its directors or officers or any
controlling person, and shall survive

12

 

delivery of and payment for the Securities. The obligation to pay the compensation and
expense reimbursement provided for in Section 8, the expense payment provisions contained in
Section 4(d), the indemnification and contribution agreements contained in Section 9 and this
Section 11 shall also survive any termination of this Agreement.

     12. NOTICES. Except as otherwise expressly provided in this Agreement or duly noticed
hereunder, all notices and other communications hereunder shall be in writing and, if given to the
Selling Agent, shall be mailed, delivered or faxed and confirmed to Emergent Financial Group, Inc.,
Attention: Carlene Cooke and to the Company at the addresses set forth on the signature page
hereof.

     13. MISCELLANEOUS. This Agreement shall inure to the benefit of and be binding upon
the successors of the Selling Agent and of the Company. Nothing expressed or mentioned in this
Agreement is intended or shall be construed to give any person or corporation, other than the
parties hereto and their successors, and the controlling persons and directors and officers
referred to in Section 9, any legal or equitable right, remedy or claim under or in respect to this
Agreement or any provision hereof. The term “successors” shall not include any purchaser of the
Securities merely by reason of such purchase. No subrogee of a benefited party shall be entitled
to any benefits hereunder. This Agreement embodies the entire agreement and understanding of the
parties hereto in respect of the matters contemplated by this Agreement and supersedes all prior
and contemporaneous agreements and understandings between the parties with respect to the matters
contemplated by this Agreement. This Agreement shall be governed by and construed in accordance
with the laws of the State of Minnesota, without regard to such state’s choice of laws provisions.

[Signature Page Follows]

13

 

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

	 	 	 	 	 	 	 

	 	 	CRYOPORT, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	 
 

	 	 
	 

	 	Name:
	 	Larry G. Stambaugh	 	 
	 

	 	Title:
	 	Chief Executive Officer	 	 

	 	 	 	 	 

	 

	 	Address:
	 	20382 Barents Sea Circle
	 

	 	 	 	Lake Forest, CA 92630
	 

	 	With copy to: Mark Ziebell
	 

	 	 	 	Snell & Wilmer L.L.P.
	 

	 	 	 	600 Anton Boulevard
	 

	 	 	 	Suite 1400
	 

	 	 	 	Costa Mesa, CA 92626

	 	 	 	 	 	 	 

	 	 	EMERGENT FINANCIAL GROUP, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	 
 

	 	 
	 

	 	Name:
	 	Peter Voldness	 	 
	 

	 	Title:
	 	Chief Executive Officer	 	 

	 	 	 	 	 

	 

	 	Address:
	 	3600 American Boulevard West
	 

	 	 	 	Suite 670
	 

	 	 	 	Bloomington, MN 55431

14

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00187-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00187-of-00352.parquet"}]]