Document:

Exhibit 10.2

 

REGISTRATION RIGHTS AGREEMENT

 

REGISTRATION RIGHTS
AGREEMENT (this "Agreement"), dated as of May 1, 2017, by and between ELITE PHARMACEUTICALS, INC., a
Nevada corporation (the "Company"), and LINCOLN PARK CAPITAL FUND, LLC, an Illinois limited liability company
(together with it permitted assigns, the “Buyer”). Capitalized terms used herein and not otherwise defined herein
shall have the respective meanings set forth in the Purchase Agreement by and between the parties hereto, dated as of the date
hereof (as amended, restated, supplemented or otherwise modified from time to time, the "Purchase Agreement").

 

WHEREAS:

 

The Company has agreed,
upon the terms and subject to the conditions of the Purchase Agreement, to sell to the Buyer up to Forty Million Dollars ($40,000,000)
of Purchase Shares and to induce the Buyer to enter into the Purchase Agreement, the Company has agreed to provide certain registration
rights under the Securities Act of 1933, as amended, and the rules and regulations thereunder, or any similar successor statute
(collectively, the "Securities Act"), and applicable state securities laws.

 

NOW, THEREFORE,
in consideration of the promises and the mutual covenants contained herein and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the Company and the Buyer hereby agree as follows:

 

		1.	DEFINITIONS.

 

As used in this Agreement,
the following terms shall have the following meanings:

 

a.           "Investor"
means the Buyer, any transferee or assignee thereof to whom a Buyer assigns its rights under this Agreement in accordance with
Section 9 and who agrees to become bound by the provisions of this Agreement, and any transferee or assignee thereof to whom a
transferee or assignee assigns its rights under this Agreement in accordance with Section 9 and who agrees to become bound by the
provisions of this Agreement.

 

b.           "Person"
means any individual or entity including but not limited to any corporation, a limited liability company, an association, a partnership,
an organization, a business, an individual, a governmental or political subdivision thereof or a governmental agency.

 

c.           "Register,"
"registered," and "registration" refer to a registration effected by preparing and filing one
or more registration statements of the Company in compliance with the Securities Act and pursuant to Rule 415 under the Securities
Act or any successor rule providing for offering securities on a continuous basis ("Rule 415"), and the declaration
or ordering of effectiveness of such registration statement(s) by the United States Securities and Exchange Commission (the "SEC").

d.           "Registrable
Securities" means all of the Commitment Shares and all of the Purchase Shares that may, from time to time, be issued or
become issuable to the Investor under the Purchase Agreement (without regard to any limitation or restriction on purchases), and
any and all shares of capital stock issued or issuable with respect to the Purchase Shares, the Commitment Shares or the Purchase
Agreement as a result of any stock split, stock dividend, recapitalization, exchange or similar event or otherwise, without regard
to any limitation on purchases under the Purchase Agreement.

 

e.           "Registration
Statement" means one or more registration statements of the Company covering only the sale of the Registrable Securities.

 

     

     

    

 

		2.	REGISTRATION.

 

a.           Mandatory
Registration. The Company shall, as soon as practicable after the date hereof, file with the SEC an initial Registration Statement
on Form S-3 (without reliance upon General Instruction I.B.6. of Form S-3) covering all of the Registrable Securities so as to
permit the resale of such Registrable Securities by the Investor under Rule 415 under the Securities Act at then prevailing market
prices (and not fixed prices), subject to the aggregate number of authorized shares of the Company’s Common Stock then available
for issuance in its Articles of Incorporation. The initial Registration Statement shall register only the Registrable Securities.
The Investor and its counsel shall have a reasonable opportunity to review and comment upon such Registration Statement and any
amendment or supplement to such Registration Statement and any related prospectus prior to its filing with the SEC, and the Company
shall give due consideration to all reasonable comments. The Investor shall furnish all information reasonably requested by the
Company for inclusion therein. The Company shall use its reasonable best efforts to have the Registration Statement and any amendment
declared effective by the SEC at the earliest possible date. The Company shall use reasonable best efforts to keep the Registration
Statement effective pursuant to Rule 415 promulgated under the Securities Act and available for the resale by the Investor of all
of the Registrable Securities covered thereby at all times until the date on which the Investor shall have resold all the Registrable
Securities covered thereby and no Available Amount remains under the Purchase Agreement (the "Registration Period").
The Registration Statement (including any amendments or supplements thereto and prospectuses contained therein) shall not contain
any untrue statement of a material fact or omit to state a material fact required to be stated therein, or necessary to make the
statements therein, in light of the circumstances under which they were made, not misleading.

 

b.           Rule
424 Prospectus. The Company shall, as required by applicable securities regulations, from time to time file with the SEC, pursuant
to Rule 424 promulgated under the Securities Act, the prospectus and prospectus supplements, if any, to be used in connection with
sales of the Registrable Securities under the Registration Statement. The Investor and its counsel shall have a reasonable opportunity
to review and comment upon such prospectus prior to its filing with the SEC, and the Company shall give due consideration to all
such comments. The Investor shall use its reasonable best efforts to comment upon such prospectus within one (1) Business Day from
the date the Investor receives the final pre-filing version of such prospectus.

 

c.           Ineligibility
to Use Form S-3. In the event that the Company shall become ineligible to use Form S-3 to register the resale of Registrable
Securities in accordance with the terms of this Agreement at any time after the effective date of the initial Registration Statement
filed pursuant to Section 2(a), the Company shall (i) as promptly as practicable upon becoming aware of the Company’s ineligibility
(or impending ineligibility) to use the Registration Statement on Form S-3, file a post-effective amendment to the Registration
Statement on Form S-1 (or another appropriate form reasonably acceptable to the Buyer) with the SEC to register the resale of the
Registrable Securities on Form S-1 pursuant to Rule 415 promulgated under the Securities Act at then-prevailing market prices,
and not fixed prices, and (ii) as promptly as practicable thereafter upon becoming eligible to use Form S-3, file an additional
post-effective amendment to the Registration Statement on Form S-3 with the SEC to register the resale of the Registrable Securities
on Form S-3 pursuant to Rule 415 promulgated under the Securities Act, provided that the Company shall maintain the effectiveness
of the Registration Statement then in effect until such time as such post-effective amendment to the Registration Statement on
Form S-3 covering the Registrable Securities has been declared effective by the SEC. The Company shall use reasonable efforts to
have each such post-effective amendment to the Registration Statement declared effective by the SEC at the earliest possible date
after the filing thereof.

 

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d.           Sufficient
Number of Shares Registered. In the event the number of shares available under the Registration Statement is insufficient to
cover all of the Registrable Securities, the Company shall amend the Registration Statement or file a new Registration Statement
(a ”New Registration Statement”), so as to cover all of such Registrable Securities as soon as practicable,
but in any event not later than ten (10) Business Days after the necessity therefor arises, subject to any limits that may be imposed
by the SEC pursuant to Rule 415 under the Securities Act. The Company shall use its reasonable best efforts to cause such amendment
and/or New Registration Statement to become effective as soon as practicable following the filing thereof.

 

e.           Offering.
If the staff of the SEC (the “Staff”) or the SEC seeks to characterize any offering pursuant to a Registration
Statement filed pursuant to this Agreement as constituting an offering of securities that does not permit such Registration Statement
to become effective and be used for resales by the Investor under Rule 415 at then-prevailing market prices (and not fixed prices),
or if after the filing of the initial Registration Statement with the SEC pursuant to Section 2(a), the Company is otherwise required
by the Staff or the SEC to reduce the number of Registrable Securities included in such initial Registration Statement, then the
Company shall reduce the number of Registrable Securities to be included in such initial Registration Statement (after consulting
with the Investor and its legal counsel as to the specific Registrable Securities to be removed therefrom) until such time as
the Staff and the SEC shall so permit such Registration Statement to become effective and be used as aforesaid. In the event of
any reduction in Registrable Securities pursuant to this paragraph, the Company shall file one or more New Registration Statements
in accordance with Section 2(d) until such time as all Registrable Securities have been included in Registration Statements that
have been declared effective and the prospectus contained therein is available for use by the Investor. Notwithstanding any provision
herein or in the Purchase Agreement to the contrary, the Company’s obligations to register Registrable Securities (and any
related conditions to the Investor’s obligations) shall be qualified as necessary to comport with any requirement of the
SEC or the Staff as addressed in this Section 2(e).

 

		3.	RELATED OBLIGATIONS.

 

With respect to the
Registration Statement and whenever any Registrable Securities are to be registered pursuant to Section 2 including on any New
Registration Statement, the Company shall use its reasonable best efforts to effect the registration of the Registrable Securities
in accordance with the intended method of disposition thereof and, pursuant thereto, the Company shall have the following obligations:

 

a.           The
Company shall prepare and file with the SEC such amendments (including post-effective amendments) and supplements to any registration
statement and the prospectus used in connection with such registration statement, which prospectus is to be filed pursuant to Rule
424 promulgated under the Securities Act, as may be necessary to keep the Registration Statement or any New Registration Statement
effective at all times during the Registration Period, and, during such period, comply with the provisions of the Securities Act
with respect to the disposition of all Registrable Securities of the Company covered by the Registration Statement or any New Registration
Statement until such time as all of such Registrable Securities shall have been disposed of in accordance with the intended methods
of disposition by the seller or sellers thereof as set forth in such registration statement.

 

b.           The
Company shall permit the Investor to review and comment upon the Registration Statement or any New Registration Statement and all
amendments and supplements thereto at least two (2) Business Days prior to their filing with the SEC, and not file any such document
in a form to which Investor reasonably objects. The Investor shall use its reasonable best efforts to comment upon the Registration
Statement or any New Registration Statement and any amendments or supplements thereto within two (2) Business Days from the date
the Investor receives the final version thereof. The Company shall furnish to the Investor, without charge any correspondence from
the SEC or the staff of the SEC to the Company or its representatives relating to the Registration Statement or any New Registration
Statement.

 

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c.           Upon
request of the Investor, the Company shall furnish to the Investor, (i) promptly after the same is prepared and filed with the
SEC, at least one copy of such registration statement and any amendment(s) thereto, including financial statements and schedules,
all documents incorporated therein by reference and all exhibits, (ii) upon the effectiveness of any registration statement, a
copy of the prospectus included in such registration statement and all amendments and supplements thereto (or such other number
of copies as the Investor may reasonably request) and (iii) such other documents, including copies of any preliminary or final
prospectus, as the Investor may reasonably request from time to time in order to facilitate the disposition of the Registrable
Securities owned by the Investor. For the avoidance of doubt, any filing available to the Investor via the SEC’s live EDGAR
system shall be deemed “furnished to the Investor” hereunder.

 

d.           The
Company shall use reasonable best efforts to (i) register and qualify the Registrable Securities covered by a registration statement
under such other securities or "blue sky" laws of such jurisdictions in the United States as the Investor reasonably
requests, (ii) prepare and file in those jurisdictions, such amendments (including post-effective amendments) and supplements to
such registrations and qualifications as may be necessary to maintain the effectiveness thereof during the Registration Period,
(iii) take such other actions as may be necessary to maintain such registrations and qualifications in effect at all times during
the Registration Period, and (iv) take all other actions reasonably necessary or advisable to qualify the Registrable Securities
for sale in such jurisdictions; provided, however, that the Company shall not be required in connection therewith or as a condition
thereto to (x) qualify to do business in any jurisdiction where it would not otherwise be required to qualify but for this Section
3(d), (y) subject itself to general taxation in any such jurisdiction, or (z) file a general consent to service of process in any
such jurisdiction. The Company shall promptly notify the Investor who holds Registrable Securities of the receipt by the Company
of any notification with respect to the suspension of the registration or qualification of any of the Registrable Securities for
sale under the securities or "blue sky" laws of any jurisdiction in the United States or its receipt of actual notice
of the initiation or threatening of any proceeding for such purpose.

 

e.           As
promptly as practicable after becoming aware of such event or facts, the Company shall notify the Investor in writing of the happening
of any event or existence of such facts as a result of which the prospectus included in any registration statement, as then in
effect, includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary
to make the statements therein, in light of the circumstances under which they were made, not misleading, and promptly prepare
a supplement or amendment to such registration statement to correct such untrue statement or omission, and deliver a copy of such
supplement or amendment to the Investor (or such other number of copies as the Investor may reasonably request). The Company shall
also promptly notify the Investor in writing (i) when a prospectus or any prospectus supplement or post-effective amendment has
been filed, and when a registration statement or any post-effective amendment has become effective (notification of such effectiveness
shall be delivered to the Investor by email or facsimile on the same day of such effectiveness and by overnight mail), (ii) of
any request by the SEC for amendments or supplements to any registration statement or related prospectus or related information,
and (iii) of the Company's reasonable determination that a post-effective amendment to a registration statement would be appropriate.

 

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f.            The
Company shall use its reasonable best efforts to prevent the issuance of any stop order or other suspension of effectiveness of
any registration statement, or the suspension of the qualification of any Registrable Securities for sale in any jurisdiction and,
if such an order or suspension is issued, to obtain the withdrawal of such order or suspension at the earliest possible moment
and to notify the Investor of the issuance of such order and the resolution thereof or its receipt of actual notice of the initiation
or threat of any proceeding for such purpose.

 

g.           The
Company shall (i) cause all the Registrable Securities to be listed on each securities exchange on which securities of the same
class or series issued by the Company are then listed, if any, if the listing of such Registrable Securities is then permitted
under the rules of such exchange, or (ii) secure designation and quotation of all the Registrable Securities on the Principal Market.
The Company shall pay all fees and expenses in connection with satisfying its obligation under this Section.

 

h.           The
Company shall cooperate with the Investor to facilitate the timely preparation and delivery of certificates (not bearing any restrictive
legend) representing the Registrable Securities to be offered pursuant to any registration statement and enable such certificates
to be in such denominations or amounts as the Investor may reasonably request and registered in such names as the Investor may
request.

 

i.            The
Company shall at all times provide a transfer agent and registrar with respect to its Common Stock.

 

j.            If
reasonably requested by the Investor, the Company shall (i) immediately incorporate in a prospectus supplement or post-effective
amendment such information as the Investor believes should be included therein relating to the sale and distribution of Registrable
Securities, including, without limitation, information with respect to the number of Registrable Securities being sold, the purchase
price being paid therefor and any other terms of the offering of the Registrable Securities; (ii) make all required filings of
such prospectus supplement or post-effective amendment as soon as practicable upon notification of the matters to be incorporated
in such prospectus supplement or post-effective amendment; and (iii) supplement or make amendments to any registration statement.

 

k.          The
Company shall use its reasonable best efforts to cause the Registrable Securities covered by any registration statement to be registered
with or approved by such other governmental agencies or authorities as may be necessary to consummate the disposition of such Registrable
Securities.

l.            Within
one (1) Business Day after any registration statement which includes the Registrable Securities is declared effective by the SEC,
the Company shall deliver, and shall cause legal counsel for the Company to deliver, to the transfer agent for such Registrable
Securities (with copies to the Investor) confirmation that such registration statement has been declared effective by the SEC in
the form attached hereto as Exhibit A. Thereafter, if requested by the Buyer at any time, the Company shall require its
counsel to deliver to the Buyer a written confirmation whether or not the effectiveness of such registration statement has lapsed
at any time for any reason (including, without limitation, the issuance of a stop order) and whether or not the registration statement
is current and available to the Buyer for sale of all of the Registrable Securities.

 

m.           The
Company shall use its reasonable best efforts to maintain eligibility for use of Form S-3 (or any successor form thereto) for the
registration of the resale of all the Registrable Securities.

 

n.           The
Company shall take all other reasonable actions necessary to expedite and facilitate disposition by the Investor of Registrable
Securities pursuant to any registration statement.

 

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		4.	OBLIGATIONS OF THE INVESTOR.

 

a.           The
Company shall notify the Investor in writing of the information the Company reasonably requires from the Investor in connection
with any registration statement hereunder. The Investor shall promptly furnish to the Company such information regarding itself,
the Registrable Securities held by it and the intended method of disposition of the Registrable Securities held by it as shall
be reasonably required to effect the registration of such Registrable Securities and shall execute such documents in connection
with such registration as the Company may reasonably request.

 

b.           The
Investor agrees to cooperate with the Company as reasonably requested by the Company in connection with the preparation and filing
of any registration statement hereunder.

 

c.           The
Investor agrees that, upon receipt of any notice from the Company of the happening of any event or existence of facts of the kind
described in Section 3(f) or the first sentence of 3(e), the Investor will immediately discontinue disposition of Registrable Securities
pursuant to any registration statement(s) covering such Registrable Securities until the Investor's receipt of the copies of the
supplemented or amended prospectus contemplated by Section 3(f) or the first sentence of 3(e). Notwithstanding anything to the
contrary, the Company shall cause its transfer agent to promptly deliver shares of Common Stock without any restrictive legend
in accordance with the terms of the Purchase Agreement in connection with any sale of Registrable Securities with respect to which
an Investor has entered into a contract for sale prior to the Investor's receipt of a notice from the Company of the happening
of any event of the kind described in Section 3(f) or the first sentence of Section 3(e) and for which the Investor has not yet
settled.

 

		5.	EXPENSES OF REGISTRATION.

 

All reasonable expenses,
other than sales or brokerage commissions, incurred in connection with registrations, filings or qualifications pursuant to Sections
2 and 3, including, without limitation, all registration, listing and qualifications fees, printers and accounting fees, and fees
and disbursements of counsel for the Company, shall be paid by the Company.

 

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		6.	INDEMNIFICATION.

 

a.           To
the fullest extent permitted by law, the Company will, and hereby does, indemnify, hold harmless and defend the Investor, each
Person, if any, who controls the Investor, the members, the directors, officers, partners, employees, agents, representatives of
the Investor and each Person, if any, who controls the Investor within the meaning of the Securities Act or the Securities Exchange
Act of 1934, as amended (the "Exchange Act") (each, an "Indemnified Person"), against any losses,
claims, damages, liabilities, judgments, fines, penalties, charges, costs, attorneys' fees, amounts paid in settlement or expenses,
joint or several, (collectively, "Claims") incurred in investigating, preparing or defending any action, claim,
suit, inquiry, proceeding, investigation or appeal taken from the foregoing by or before any court or governmental, administrative
or other regulatory agency, body or the SEC, whether pending or threatened, whether or not an indemnified party is or may be a
party thereto ("Indemnified Damages"), to which any of them may become subject insofar as such Claims (or actions
or proceedings, whether commenced or threatened, in respect thereof) arise out of or are based upon: (i) any untrue statement or
alleged untrue statement of a material fact in the Registration Statement, any New Registration Statement or any post-effective
amendment thereto or in any filing made in connection with the qualification of the offering under the securities or other "blue
sky" laws of any jurisdiction in which Registrable Securities are offered ("Blue Sky Filing"), or the omission
or alleged omission to state a material fact required to be stated therein or necessary to make the statements therein not misleading,
(ii) any untrue statement or alleged untrue statement of a material fact contained in the final prospectus (as amended or supplemented,
if the Company files any amendment thereof or supplement thereto with the SEC) or the omission or alleged omission to state therein
any material fact necessary to make the statements made therein, in light of the circumstances under which the statements therein
were made, not misleading, (iii) any violation or alleged violation by the Company of the Securities Act, the Exchange Act, any
other law, including, without limitation, any state securities law, or any rule or regulation thereunder relating to the offer
or sale of the Registrable Securities pursuant to the Registration Statement or any New Registration Statement or (iv) any material
violation by the Company of this Agreement (the matters in the foregoing clauses (i) through (iv) being, collectively, "Violations").
The Company shall reimburse each Indemnified Person promptly as such expenses are incurred and are due and payable, for any reasonable
legal fees or other reasonable expenses incurred by them in connection with investigating or defending any such Claim. Notwithstanding
anything to the contrary contained herein, the indemnification agreement contained in this Section 6(a): (i) shall not apply to
a Claim by an Indemnified Person arising out of or based upon a Violation which occurs in reliance upon and in conformity with
information about the Investor furnished in writing to the Company by such Indemnified Person expressly for use in connection with
the preparation of the Registration Statement, any New Registration Statement or any such amendment thereof or supplement thereto,
if such prospectus was timely made available by the Company pursuant to Section 3(c) or Section 3(e); (ii) with respect to any
superseded prospectus, shall not inure to the benefit of any such person from whom the person asserting any such Claim purchased
the Registrable Securities that are the subject thereof (or to the benefit of any person controlling such person) if the untrue
statement or omission of material fact contained in the superseded prospectus was corrected in the revised prospectus, as then
amended or supplemented, if such revised prospectus was timely made available by the Company pursuant to Section 3(c) or Section
3(e), and the Indemnified Person was promptly advised in writing not to use the incorrect prospectus prior to the use giving rise
to a violation and such Indemnified Person, notwithstanding such advice, used it; (iii) shall not be available to the extent such
Claim is based on a failure of the Investor to deliver or to cause to be delivered the prospectus made available by the Company,
if such prospectus was timely made available by the Company pursuant to Section 3(c) or Section 3(e); and (iv) shall not apply
to amounts paid in settlement of any Claim if such settlement is effected without the prior written consent of the Company, which
consent shall not be unreasonably withheld. Such indemnity shall remain in full force and effect regardless of any investigation
made by or on behalf of the Indemnified Person and shall survive the transfer of the Registrable Securities by the Investor pursuant
to Section 9.

 

b.           In
connection with the Registration Statement or any New Registration Statement, the Investor agrees to indemnify, hold harmless and
defend, to the same extent and in the same manner as is set forth in Section 6(a), the Company, each of its directors, each of
its officers who signs the Registration Statement or any New Registration Statement, each Person, if any, who controls the Company
within the meaning of the Securities Act or the Exchange Act (collectively and together with an Indemnified Person, an "Indemnified
Party"), against any Claim or Indemnified Damages to which any of them may become subject, under the Securities Act, the
Exchange Act or otherwise, insofar as such Claim or Indemnified Damages arise out of or are based upon any Violation, in each case
to the extent, and only to the extent, that such Violation occurs in reliance upon and in conformity with written information about
the Investor set forth on Exhibit B attached hereto and furnished to the Company by the Investor expressly for use in connection
with such registration statement; and, subject to Section 6(d), the Investor will reimburse any legal or other expenses reasonably
incurred by them in connection with investigating or defending any such Claim; provided, however, that the indemnity agreement
contained in this Section 6(b) and the agreement with respect to contribution contained in Section 7 shall not apply to amounts
paid in settlement of any Claim if such settlement is effected without the prior written consent of the Investor, which consent
shall not be unreasonably withheld; provided, further, however, that the Investor shall be liable under this Section 6(b) for only
that amount of a Claim or Indemnified Damages as does not exceed the net proceeds to the Investor as a result of the sale of Registrable
Securities pursuant to such registration statement. Such indemnity shall remain in full force and effect regardless of any investigation
made by or on behalf of such Indemnified Party and shall survive the transfer of the Registrable Securities by the Investor pursuant
to Section 9.

 

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c.           Promptly
after receipt by an Indemnified Person or Indemnified Party under this Section 6 of notice of the commencement of any action or
proceeding (including any governmental action or proceeding) involving a Claim, such Indemnified Person or Indemnified Party shall,
if a Claim in respect thereof is to be made against any indemnifying party under this Section 6, deliver to the indemnifying party
a written notice of the commencement thereof, and the indemnifying party shall have the right to participate in, and, to the extent
the indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume control of the defense
thereof with counsel mutually satisfactory to the indemnifying party and the Indemnified Person or the Indemnified Party, as the
case may be; provided, however, that an Indemnified Person or Indemnified Party shall have the right to retain its own counsel
with the fees and expenses to be paid by the indemnifying party, if, in the reasonable opinion of counsel retained by the indemnifying
party, the representation by such counsel of the Indemnified Person or Indemnified Party and the indemnifying party would be inappropriate
due to actual or potential differing interests between such Indemnified Person or Indemnified Party and any other party represented
by such counsel in such proceeding. The Indemnified Party or Indemnified Person shall cooperate fully with the indemnifying party
in connection with any negotiation or defense of any such action or claim by the indemnifying party and shall furnish to the indemnifying
party all information reasonably available to the Indemnified Party or Indemnified Person which relates to such action or claim.
The indemnifying party shall keep the Indemnified Party or Indemnified Person fully apprised at all times as to the status of the
defense or any settlement negotiations with respect thereto. No indemnifying party shall be liable for any settlement of any action,
claim or proceeding effected without its written consent, provided, however, that the indemnifying party shall not unreasonably
withhold, delay or condition its consent. No indemnifying party shall, without the consent of the Indemnified Party or Indemnified
Person, consent to entry of any judgment or enter into any settlement or other compromise which does not include as an unconditional
term thereof the giving by the claimant or plaintiff to such Indemnified Party or Indemnified Person of a release from all liability
in respect to such claim or litigation. Following indemnification as provided for hereunder, the indemnifying party shall be subrogated
to all rights of the Indemnified Party or Indemnified Person with respect to all third parties, firms or corporations relating
to the matter for which indemnification has been made. The failure to deliver written 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
Person or Indemnified Party under this Section 6, except to the extent that the indemnifying party is prejudiced in its ability
to defend such action.

 

d.           The
indemnification required by this Section 6 shall be made by periodic payments of the amount thereof during the course of the investigation
or defense, as and when bills are received or Indemnified Damages are incurred.

 

e.           The
indemnity agreements contained herein shall be in addition to (i) any cause of action or similar right of the Indemnified Party
or Indemnified Person against the indemnifying party or others, and (ii) any liabilities the indemnifying party may be subject
to pursuant to the law.

 

		7.	CONTRIBUTION.

 

To the extent any indemnification
by an indemnifying party is prohibited or limited by law, the indemnifying party agrees to make the maximum contribution with respect
to any amounts for which it would otherwise be liable under Section 6 to the fullest extent permitted by law; provided, however,
that: (i) no seller of Registrable Securities guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the
Securities Act) shall be entitled to contribution from any seller of Registrable Securities who was not guilty of fraudulent misrepresentation;
and (ii) contribution by any seller of Registrable Securities shall be limited in amount to the net amount of proceeds received
by such seller from the sale of such Registrable Securities.

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		8.	REPORTS AND DISCLOSURE UNDER THE SECURITIES ACTS.

 

With a view to making
available to the Investor the benefits of Rule 144 promulgated under the Securities Act or any other similar rule or regulation
of the SEC that may at any time permit the Investor to sell securities of the Company to the public without registration ("Rule
144"), the Company agrees, at the Company’s sole expense, to:

 

a.           make
and keep public information available, as those terms are understood and defined in Rule 144;

 

b.           file
with the SEC in a timely manner all reports and other documents required of the Company under the Securities Act and the Exchange
Act so long as the Company remains subject to such requirements and the filing of such reports and other documents is required
for the applicable provisions of Rule 144;

 

c.           furnish
to the Investor so long as the Investor owns Registrable Securities, promptly upon request, (i) a written statement by the Company
that it has complied with the reporting and or disclosure provisions of Rule 144, the Securities Act and the Exchange Act, (ii)
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 (iii) such other information as may be reasonably requested to permit the Investor to sell such securities pursuant to Rule
144 without registration; and

 

d.           take
such additional action as is requested by the Investor to enable the Investor to sell the Registrable Securities pursuant to Rule
144, including, without limitation, delivering all such legal opinions, consents, certificates, resolutions and instructions to
the Company’s Transfer Agent as may be requested from time to time by the Investor and otherwise fully cooperate with Investor
and Investor’s broker to effect such sale of securities pursuant to Rule 144.

 

The Company agrees that
damages may be an inadequate remedy for any breach of the terms and provisions of this Section 8 and that Investor shall, whether
or not it is pursuing any remedies at law, be entitled to equitable relief in the form of a preliminary or permanent injunctions,
without having to post any bond or other security, upon any breach or threatened breach of any such terms or provisions.

 

		9.	ASSIGNMENT OF REGISTRATION RIGHTS.

 

The Company shall not
assign this Agreement or any rights or obligations hereunder without the prior written consent of the Investor. The Investor may
not assign its rights under this Agreement without the written consent of the Company, other than to an affiliate of the Investor
controlled by Jonathan Cope or Josh Scheinfeld.

 

    	 	9	 

     

    

 

		10.	AMENDMENT OF REGISTRATION RIGHTS.

 

No provision of this
Agreement may be amended or waived by the parties from and after the date that is one Business Day immediately preceding the initial
filing of the Registration Statement with the SEC. Subject to the immediately preceding sentence, no provision of this Agreement
may be (i) amended other than by a written instrument signed by both parties hereto or (ii) waived other than in a written instrument
signed by the party against whom enforcement of such waiver is sought. Failure of any party to exercise any right or remedy under
this Agreement or otherwise, or delay by a party in exercising such right or remedy, shall not operate as a waiver thereof.

 

		11.	MISCELLANEOUS.

 

a.           A
Person is deemed to be a holder of Registrable Securities whenever such Person owns or is deemed to own of record such Registrable
Securities. If the Company receives conflicting instructions, notices or elections from two or more Persons with respect to the
same Registrable Securities, the Company shall act upon the basis of instructions, notice or election received from the registered
owner of such Registrable Securities.

 

b.           Any
notices, consents, waivers or other communications required or permitted to be given under the terms of this Agreement must be
in writing and will be deemed to have been delivered: (i) upon receipt, when delivered personally; (ii) upon receipt, when sent
by facsimile or email (provided confirmation of transmission is mechanically or electronically generated and kept on file by the
sending party); or (iii) one (1) Business Day after deposit with a nationally recognized overnight delivery service, in each case
properly addressed to the party to receive the same. The addresses for such communications shall be:

 

If to the Company:

Elite Pharmaceuticals, Inc.

165 Ludlow Avenue

Northvale, NJ 07647

	Telephone:	(201) 750-2646
	Facsimile:	(201) 750-2755
	E-mail:	NHakim@elitepharma.com
	Attention: 	Nasrat Hakim, President and CEO

 

With a copy to (which shall not
constitute notice or service of process):

Richard Feiner, Esq.

Wall Street Plaza

88 Pine Street

22nd Floor

New York, NY 10005

	Telephone:	(212) 779-8600
	Facsimile:	(917) 720-0863
	Email:	rfeinerlaw@silverfirm.com

 

If to the Investor:

Lincoln Park Capital Fund, LLC

440 North Wells, Suite 410

Chicago, IL 60654

	Telephone:	312-822-9300
	Facsimile:	312-822-9301
	E-mail:	jscheinfeld@lpcfunds.com/jcope@lpcfunds.com
	Attention:	Josh Scheinfeld/Jonathan Cope

 

    	 	10	 

     

    

 

With a copy to (which
shall not constitute notice or service of process):

Mintz, Levin,
Cohn, Ferris, Glovsky and Popeo, P.C.

666 Third
Avenue

New York,
NY 10017

	Telephone:	(212) 692-6267
	Facsimile:	(212) 983-3115
	E-mail:	ajmarsico@mintz.com
	Attention:	Anthony J. Marsico, Esq.

 

or at such other address and/or facsimile
number and/or to the attention of such other person as the recipient party has specified by written notice given to each other
party three (3) Business Days prior to the effectiveness of such change. Written confirmation of receipt (A) given by the recipient
of such notice, consent, waiver or other communication, (B) mechanically or electronically generated by the sender's facsimile
machine or email account containing the time, date, recipient facsimile number or email address, as applicable, and an image of
the first page of such transmission or (C) provided by a nationally recognized overnight delivery service, shall be rebuttable
evidence of personal service, receipt by facsimile or receipt from a nationally recognized overnight delivery service in accordance
with clause (i), (ii) or (iii) above, respectively.

 

c.           The
corporate laws of the State of Nevada shall govern all issues concerning the relative rights of the Company and its stockholders.
All other questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by
the internal laws of the State of Illinois, without giving effect to any choice of law or conflict of law provision or rule (whether
of the State of Illinois or any other jurisdictions) that would cause the application of the laws of any jurisdictions other than
the State of Illinois. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting
the State of Illinois, County of Cook, for the adjudication of any dispute hereunder or in connection herewith or with any transaction
contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding,
any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is brought
in an inconvenient forum or that the venue of such suit, action or proceeding is improper. Each party hereby irrevocably waives
personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof
to such party at the address for such notices to it under this Agreement and agrees that such service shall constitute good and
sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve
process in any manner permitted by law. If any provision of this Agreement shall be invalid or unenforceable in any jurisdiction,
such invalidity or unenforceability shall not affect the validity or enforceability of the remainder of this Agreement in that
jurisdiction or the validity or enforceability of any provision of this Agreement in any other jurisdiction. EACH PARTY HEREBY
IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER
OR IN CONNECTION HEREWITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

d.           This
Agreement and the Purchase Agreement constitute the entire agreement among the parties hereto with respect to the subject matter
hereof and thereof. There are no restrictions, promises, warranties or undertakings, other than those set forth or referred to
herein and therein. This Agreement and the Purchase Agreement supersede all prior agreements and understandings among the parties
hereto with respect to the subject matter hereof and thereof.

 

    	 	11	 

     

    

 

e.           Subject
to the requirements of Section 9, this Agreement shall inure to the benefit of and be binding upon the successors and permitted
assigns of each of the parties hereto.

 

f.            The
headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof.

 

g.           This
Agreement may be executed in identical counterparts, each of which shall be deemed an original but all of which shall constitute
one and the same agreement. This Agreement, once executed by a party, may be delivered to the other party hereto by facsimile transmission
or by e-mail in a “.pdf” format data file of a copy of this Agreement bearing the signature of the party so delivering
this Agreement.

 

h.           Each
party shall do and perform, or cause to be done and performed, all such further acts and things, and shall execute and deliver
all such other agreements, certificates, instruments and documents, as the other party may reasonably request in order to carry
out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby.

 

i.            The
language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent and no rules
of strict construction will be applied against any party.

 

j.            This
Agreement is intended for the benefit of the parties hereto and their respective successors and permitted assigns, and is not for
the benefit of, nor may any provision hereof be enforced by, any other Person.

 

* * * * * *

 

    	 	12	 

     

    

 

IN WITNESS WHEREOF,
the parties have caused this Registration Rights Agreement to be duly executed as of day and year first above written.

 

	 	THE COMPANY:
	 	 
	 	ELITE PHARMACEUTICALS, INC.
	 	 
	 	By:	/s/ Nasrat Hakim
	 	Name:	Nasrat Hakim
	 	Title:	President and Chief Executive Officer
	 	 
	 	BUYER:
	 	 
	 	LINCOLN PARK CAPITAL FUND, LLC
	 	BY: LINCOLN PARK CAPITAL, LLC
	 	BY: ROCKLEDGE CAPITAL CORPORATION
	 	 
	 	By:	/s/ Josh Scheinfeld
	 	Name:	Josh Scheinfeld
	 	Title:	President

 

    	 	13	 

     

    

 

EXHIBIT A

 

TO REGISTRATION RIGHTS AGREEMENT

 

FORM OF NOTICE OF EFFECTIVENESS

OF REGISTRATION STATEMENT

 

[Date]

 

[TRANSFER AGENT]

___________________

___________________

 

Re: [__________]

 

Ladies and Gentlemen:

 

We are counsel to
Elite Pharmaceuticals, Inc., a Nevada corporation (the “Company”), and have represented the Company in connection
with that certain Purchase Agreement, dated as of May 1, 2017 (the “Purchase Agreement”), entered into by and
between the Company and Lincoln Park Capital Fund, LLC (the “Buyer”) pursuant to which the Company has agreed
to issue to the Buyer shares of the Company's Common Stock, par value $0.001 per share (the “Common Stock”),
in an amount up to Forty Million Dollars ($40,000,000) (the “Purchase Shares”), in accordance with the terms
of the Purchase Agreement. In connection with the transactions contemplated by the Purchase Agreement, the Company has registered
with the U.S. Securities & Exchange Commission the following shares of Common Stock:

 

		(1)	up to [__________] shares of Common Stock to be issued to the Buyer upon purchase by the Buyer
from the Company from time to time (the “Purchase Shares”); and

 

		(2)	5,540,550 shares of Common Stock that have been issued to the Buyer as an initial commitment fee
on the date of the Purchase Agreement (the “Initial Commitment Shares”); and

 

		(3)	up to 5,540,550 shares of Common Stock to be issued to the Buyer as an additional commitment fee
from time to time in accordance with the terms of the Purchase Agreement (the “Additional Commitment Shares”
and, collectively with the Initial Commitment Shares, the “Commitment Shares”).

 

Pursuant to the Purchase Agreement, the
Company also has entered into a Registration Rights Agreement, dated as of May 1, 2017, with the Buyer (the “Registration
Rights Agreement”) pursuant to which the Company agreed, among other things, to register the Purchase Shares and the
Commitment Shares under the Securities Act of 1933, as amended (the “Securities Act”). In connection with the
Company's obligations under the Purchase Agreement and the Registration Rights Agreement, on [_____________], 201[__], the Company
filed a Registration Statement (File No. 333-[_________]) (the “Registration Statement”) with the Securities
and Exchange Commission (the “SEC”) relating to the resale of the Purchase Shares and the Commitment Shares.

 

In connection with
the foregoing, we advise you that a member of the SEC's staff has advised us by telephone that the SEC has entered an order declaring
the Registration Statement effective under the Securities Act at [_____] [A.M./P.M.] on [__________], 201[__] and we have no knowledge,
after telephonic inquiry of a member of the SEC's staff, that any stop order suspending its effectiveness has been issued or that
any proceedings for that purpose are pending before, or threatened by, the SEC and the Purchase Shares and the Commitment Shares
are available for resale under the Securities Act pursuant to the Registration Statement and may be issued without any restrictive
legend.

 

     

     

    

 

	 	Very truly yours,	 
	 	[Company Counsel]	 
	 	 	 
	 	By:	 	 
	 	 	 	 

 

		cc:	Lincoln Park Capital Fund, LLC

 

     

     

    

 

EXHIBIT B

 

TO REGISTRATION
RIGHTS AGREEMENT

 

Information About The Investor Furnished
To The Company By The Investor 

Expressly For Use In Connection With
The Registration Statement

 

Information With Respect to Lincoln
Park Capital

 

As of the date of the Purchase Agreement,
Lincoln Park Capital Fund, LLC, beneficially owned 5,766,285 shares of our common stock. Josh Scheinfeld and Jonathan Cope, the
Managing Members of Lincoln Park Capital, LLC, the manager of Lincoln Park Capital Fund, LLC, are deemed to be beneficial owners
of all of the shares of common stock owned by Lincoln Park Capital Fund, LLC. Messrs. Cope and Scheinfeld have shared voting and
investment power over the shares being offered under the prospectus filed with the SEC in connection with the transactions contemplated
under the Purchase Agreement. Lincoln Park Capital, LLC is not a licensed broker dealer or an affiliate of a licensed broker dealer.EXHIBIT
10.1

 

STRATEGIC
SALES & MARKETING AGREEMENT

 

THIS
STRATEGIC SALES & MARKETING AGREEMENT (the “Agreement”) is effective as of the last date provided for on
the signature page and is entered into by and between SightLife Surgical, Inc., a Delaware corporation, having its principal place
of business at 1200 6th Ave, Ste. 300, Seattle, WA 98101 (“Surgical”) and Imprimis Pharmaceuticals, Inc., a
Delaware corporation, and its subsidiaries, having its principal place of business at 12264 El Camino Real, Suite 350, San Diego,
CA 92130 (“Imprimis”).

 

WHEREAS,
Imprimis and/or its subsidiary companies are licensed and accredited pharmacies and/or outsourcing facilities; 

 

WHEREAS,
Surgical is a cornea-focused organization that provides comprehensive services to support ophthalmic surgeons; and

 

WHEREAS,
Imprimis wishes to engage Surgical and its employees to provide contract sales services under the terms and conditions as set
forth below.

 

NOW
THEREFORE, in consideration of the mutual promises contained herein and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, Surgical and Imprimis agree, intending to be legally bound, as follows:

 

	1.	Sales
    Representation Services. 

 

	 	1.1.	Surgical
    will provide sales representation services to Imprimis during the Term of this Agreement (Surgical and its sales representatives
    may be referred to collectively hereinafter as Surgical). The sales representation services (“Services”)
    are set forth in the Statement of Work (“SOW”) that is attached hereto as Appendix A and made a
    part hereof, as it may be amended from time to time by the parties hereto. 
	 	 	 
	 	1.2.	Surgical
    represents and warrants to Imprimis that: (a) Surgical has the required skill, experience and qualifications to perform the
    Services, shall perform the Services in a professional and workmanlike manner in accordance with generally recognized industry
    standards for similar services and shall devote sufficient resources to ensure that the Services are performed in a timely
    and reliable manner; and (b) Surgical shall perform the Services in compliance with all applicable federal, state and local
    laws and regulations.

 

	2.	Effective
    Date; Term and Termination.

 

	 	2.1.	This
    Agreement shall be effective on the later of the dates that it is executed by Imprimis and Surgical (the “Effective
    Date”) and shall terminate pursuant to the terms of the SOW (the “Term”).
	 	 	 
	 	2.2.	Surgical
    shall immediately cease to provide any further Services under this Agreement and/or any applicable SOW upon receipt of notice
    from Imprimis that Imprimis is terminating this Agreement and/or such SOW. Upon termination of this Agreement and/or such
    SOW, Surgical shall be entitled to payment for Services completed prior to such termination. Thereafter, Imprimis shall owe
    Surgical no further amounts or obligations in law or equity. 

 

    	 	Page 1 of 11	 

    	 	 	 

    

 

	3.	Sales
    Commissions. In consideration of the Services provided hereunder, Imprimis shall pay Surgical sales commissions (“Sales
    Commissions”) as set forth in the SOW. Surgical shall be responsible for all expenses incurred in association with
    performance of the Services. 
	 	 
	4.	Sales
    Commission Payment. Within sixty (60) days after the end of each calendar quarter during the Term, Imprimis shall deliver
    to Surgical a report setting forth for such calendar quarter the calculation of the applicable Sales Commission due under
    this Agreement for the sale of the Product (as defined in the SOW). Imprimis shall remit the total Sales Commission payments
    due for the sale of Product during such calendar quarter at the time such report is made. 
	 	 
	5.	Ownership
    of Intellectual Property / Inventions / Work Product. Surgical agrees that it shall disclose promptly to Imprimis all
    inventions, ideas, concepts, and discoveries, including but not limited to processes, methods, formulas, biological materials,
    specimens, chemical compounds, formulations, software, data, techniques, products, applications, systems, procedures, technical
    information, drawings, reports and designs as well as improvements and modifications thereof and know-how thereto (whether
    or not protectable by copyright, patent, trademark, trade secret or any other proprietary rights), that it makes, conceives
    of, discovers or develops as a result of the receipt of Confidential Information (as defined in the Confidentiality Agreement
    referenced in Section 6 below) (“Work Product”). Surgical agrees that all Work Product shall be the sole
    and exclusive property of Imprimis.

 

	 	5.1.	Surgical
    represents and warrants that all Work Product is and shall be Surgical’s original work (except for material in the public
    domain or provided by Imprimis) and, to the best of Surgical’s knowledge, does not and will not violate or infringe
    upon the intellectual property right or any other right whatsoever of any person, firm, corporation or other entity.
	 	 	 
	 	5.2.	Surgical
    agrees that any Work Product, if subject to copyright, shall be considered a “work made for hire” within the meaning
    of the Copyright Act of 1976, as amended (the “Act”). If and to the extent that any Work Product is found as a
    matter of law not to be a “work made for hire” within the meaning of the Act, Surgical agrees to assign, and by
    this Agreement and Surgical’s signature below, Surgical hereby does assign to Imprimis all right, title and interest
    in and to Work Product, and all copies thereof, and the copyright, patent, trademark, trade secret and all other proprietary
    rights in Work Product.
	 	 	 
	 	5.3.	Surgical
    agrees that, at the request of Imprimis, Surgical will execute all such documents and perform all such acts as Imprimis or
    its duly authorized agents may reasonably require: (a) to effect the assignment of Work Product as agreed above; (b) to apply
    for, obtain, and vest in the name of Imprimis alone patents, patent applications, copyrights or other intellectual property
    rights in any country and (c) at Imprimis’ expense, to assist Imprimis in prosecuting any such rights.

 

    	 	Page 2 of 11	 

    	 	 	 

    

 

	 	5.4.	Surgical
    agrees that promptly upon termination of this Agreement, Surgical shall deliver to Imprimis all Work Product, either completed
    or uncompleted, and any documents, reports and other materials which are in Surgical’s possession in connection with
    the performance of Services under this Agreement.

 

	6.	Confidentiality.
    Concurrently with this Agreement, the parties shall enter into a confidentiality agreement (the “Confidentiality
    Agreement”), a copy of which has been attached hereto as Exhibit A, which shall govern the confidentiality
    of any Confidential Information (as defined in the Confidentiality Agreement) disclosed between the parties. In addition,
    Surgical shall, at Imprimis’ request and in Imprimis’ sole discretion, if given access to patient health information,
    execute a “Business Associate Agreements” as required by the U.S. Health Insurance Portability and Accountability
    Act of 1996 (“HIPAA”). 
	 	 
	7.	Conflicts
    of Interest. 

 

	 	7.1.	Surgical
    represents and warrants that Surgical is not under any pre-existing obligation in conflict or in any way inconsistent with
    the provisions of this Agreement. Surgical represents and warrants that Surgical’s performance of all the terms of this
    Agreement will not (a) breach any agreement to keep in confidence proprietary information acquired by Surgical in confidence
    or in trust prior to commencement of this Agreement, or (b) breach any other agreement with any third party. Surgical warrants
    that Surgical has the right to disclose and/or or use all ideas, processes, techniques and other information, if any, which
    Surgical has gained from third parties, and which Surgical discloses to Imprimis or uses in the course of performance of this
    Agreement, without liability to such third parties. Surgical represents and warrants that Surgical has not granted and will
    not grant any rights or licenses to any intellectual property or technology that would conflict with Surgical’s obligations
    under this Agreement. Surgical will not knowingly infringe upon any copyright, patent, trade secret or other property right
    of any former client, employer or third party in the performance of the Services.
	 	 	 
	 	7.2.	Subject
    to the SOW, Imprimis acknowledges that Surgical may perform services for other clients. Surgical represents and warrants that
    as of the Effective Date, there is no conflict of interest which would prevent Surgical from performing the Services for Imprimis,
    and that Surgical is not under any legal or contractual relationship with any third party which is inconsistent with any provision
    of this Agreement. During the Term of this Agreement, Surgical will not to enter into any other agreement or arrangement that
    will directly or indirectly compete with the Services to be rendered hereunder, as such agreement shall be considered a breach
    of this Agreement. In the event that Surgical becomes aware of any potential or actual conflicts of interest regarding the
    provision of the Services, Surgical shall promptly disclose the fact and nature of such conflict to Imprimis. 

 

	8.	Debarred
    Person. Surgical hereby certifies that Surgical is not currently nor has been debarred by the U.S. Food and Drug Administration
    pursuant to 21 USC §335a(a) or (b), or under any similar law or regulation by the European Medicines Evaluation Agency
    or any other national or regulatory authority or agency. If Surgical becomes aware that Surgical is or becomes the subject
    of any debarment or similar proceedings in any jurisdiction, then Surgical shall promptly notify Imprimis.

 

    	 	Page 3 of 11	 

    	 	 	 

    

 

	9.	Compliance
    with Laws and Quality Standards. As further outlined in the SOW, Surgical and its employees shall conduct all activities
    under this Agreement or relating to the Product in accordance with all applicable laws and regulations and all quality standards,
    protocols and systems established by Imprimis from time to time therefor.
	 	 
	10.	Tax
    Indemnity. Surgical agrees to indemnify and hold harmless Imprimis from any and all claims or demands under the Internal
    Revenue Code of 1986, as amended, or any state or local tax law or ordinance in respect of any failure of Imprimis to withhold
    income tax, FICA or any other tax from the Sales Commissions paid to Surgical, including any interest or penalties relating
    thereto and any costs or expenses incurred in defending such claims. 
	 	 
	11.	Indemnification
    and Insurance.

 

	 	11.1.	Each
    party shall indemnify and hold harmless the other party, and its directors, officers, employees and agents, from and against
    all losses, liabilities, damages and expenses, including reasonable attorneys’ fees and costs (collectively, “Liabilities”),
    resulting from any claims, demands, actions or other proceedings by any third party to the extent resulting from the breach
    of any representation, warranty or covenant by the breaching party under this Agreement. 
	 	 	 
	 	11.2.	Insurance.
    Each party shall maintain insurance, including comprehensive or commercial general liability and products liability insurance
    (contractual liability included), with respect to its activities under this Agreement in such amounts and with such limits
    as reasonable and customary in the industry, but with limits not less than the following: (a) each occurrence, one million
    dollars ($1,000,000); (b) products/completed operations aggregate, five million dollars ($5,000,000); (c) personal and advertising
    injury, one million dollars ($1,000,000); and (d) general aggregate (commercial form only), five million dollars ($5,000,000).
    Each Party shall maintain such insurance for so long as it continues its activities under this Agreement, and thereafter for
    so long as it customarily maintains insurance for itself covering similar activities.

 

	12.	Assignment.
    Surgical shall not assign this Agreement or any of its rights or privileges without the prior written consent of Imprimis,
    which consent Imprimis may grant or withhold in its sole discretion. Imprimis may assign this Agreement to any party that
    agrees to assume this Agreement and all of Imprimis’ duties and obligations thereunder.
	 	 
	13.	Waiver.
    No waiver of this Agreement or any of its provisions shall be binding upon a party unless in writing and signed by each party.
    The waiver by either party of a breach or violation of any provision of this Agreement shall not constitute or be construed
    as a waiver of any subsequent breach or violation of that provision or as a waiver of any breach or violation of any other
    provision.
	 	 
	14.	Severability.
    If any provision of this Agreement is held by a court of competent jurisdiction to be invalid, illegal or unenforceable, the
    remaining provisions of this Agreement shall be unimpaired, and the invalid, illegal or unenforceable provision shall be replaced
    by a mutually acceptable provision, which, being valid, legal and enforceable, comes closest to the intention of the parties
    underlying the invalid, illegal or unenforceable provision.

 

    	 	Page 4 of 11	 

    	 	 	 

    

 

	15.	Survival.
    The provisions of Sections 2, 5, 6, 9-20 and any other obligation under this Agreement which is to survive or be performed
    after termination of this Agreement, regardless of the cause therefor, shall survive any termination or expiration of this
    Agreement.
	 	 
	16.	Notices.
    Any notice or other communication required or permitted to be made or given under this Agreement to either party shall be
    in writing and shall be sufficiently given if (i) hand delivered, (ii) sent by overnight guaranteed delivery service, such
    as Federal Express or UPS; or (iii) sent by facsimile transmission or electronic mail during addressee’s normal business
    hours, with a duplicate copy sent by overnight delivery or certified or registered mail (except for any notice of termination
    which must be sent by method (i) or (ii)), addressed as follows: 

 

	 	If
    to Surgical:	SightLife
    Surgical, Inc.
	 	 	1200
    6th Ave., Ste. 300
	 	 	Seattle,
    WA 98101
	 	 	Attn:
    Monty Montoya, CEO
	 	 	E-mail:
    monty.montoya@sightlife.org
	 	 	 
	 	If
    to Imprimis:	Imprimis
    Pharmaceuticals, Inc.
	 	 	12264
    El Camino Real, Suite 350
	 	 	San
    Diego, CA 92130
	 	 	Attn:
    Mark L. Baum, CEO
	 	 	Email:
    mark@imprimispharma.com 

 

	 	or
    to such other address or addressee as either party may from time to time designate to the other by written notice. Any such
    notice or other communication shall be deemed to be given as of the date it is received by the addressee.
	 	 
	17.	Publicity.
    Neither party nor its Affiliates shall make any public announcements concerning matters regarding this Agreement or the negotiation
    thereof without the prior written consent of the other party unless such disclosure is required by law, in which case the
    announcing party shall provide the other party with reasonable notice of such disclosure sufficient to make written comments
    concerning such disclosure. For the avoidance of doubt, mutually agreed upon marketing plans shall be deemed to have received
    the requisite consent pursuant to the preceding sentence.
	 	 
	18.	Advice
    of Counsel. Each party acknowledges that, in executing this Agreement, such party has had the opportunity to seek the
    advice of independent legal counsel, and has read and understood all of the terms and provisions of this Agreement. This Agreement
    shall not be construed against any party by reason of the drafting or preparation hereof.
	 	 
	19.	Governing
    Law. This Agreement shall be governed by and construed in accordance with the laws of the State of California, excluding
    the choice of law rules, and the parties hereby agree to submit to the jurisdiction and venue of the State and Federal courts
    of the State of California, and agree that the State and Federal courts of the State of California shall be the exclusive
    forum for the resolution of all disputes related to or arising out of this Agreement.

 

    	 	Page 5 of 11	 

    	 	 	 

    

 

	20.	Entire
    Agreement; Amendments; Counterparts. This Agreement, including Appendix A, and the Confidentiality Agreement represents
    the entire agreement between the parties in relation to the subject matter contained herein and supersedes all previous other
    agreements and representations, whether oral or written. This Agreement may be modified only if such modification is in writing
    and signed by a duly authorized representative of each party. This Agreement may be executed in separate counterparts, each
    of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

 

*****SIGNATURE
PAGE FOLLOWS***

 

    	 	Page 6 of 11	 

    	 	 	 

    

 

SIGNATURE
PAGE

 

IN
WITNESS WHEREOF, the parties hereto have caused this Strategic Sales & Marketing Agreement to be duly executed in duplicate
original on the dates set forth below.

 

	IMPRIMIS
    PHARMACEUTICALS, INC.	 	SIGHTLIFE
    SURGICAL, INC. 
	 	 	 	 	 
	 	/s/
    Mark L. Baum	 	 	/s/
    Monty Montya
	By:	Mark
    L. Baum	 	By:	Monty
    Montoya
	Its:	Chief
    Executive Officer	 	Its:	Its:
    President & Chief Executive Officer
	 	 	 	 	 
	Date:	4/26/2017	 	Date:	4/28/2017

 

    	 	Page 7 of 11	 

    	 	 	 

    

 

APPENDIX
A

Statement
of Work

under
Strategic Sales & Marketing Agreement

by
and between

SightLife
Surgical, Inc. and Imprimis Pharmaceuticals, Inc.

 

Services:

 

Surgical
will provide “Services” for Imprimis and its subsidiaries which shall include: 

 

	 	1.	In
    coordination with Imprimis, calling on potential clients including, but not limited to, doctors, practitioners, practice groups,
    surgical centers, hospitals and other prescribers (collectively “Clients”) and assisting in the promotion,
    marketing and generation of inbound sales and prescription orders for the Product in the Territory.
	 	 	 
	 	2.	Opening
    new Client accounts, servicing existing Client accounts, promoting products, facilitating sales orders and handling customer
    services for Clients in the Territory, including interfacing with the Imprimis customer service team and the Imprimis commercial
    sales team on a regular basis. 
	 	 	 
	 	3.	Providing
    a dedicated sales staff of four (4) Surgical employees (the “Sales Team”) in the provision of the Services.
    The Sales Team shall have specific and sufficient related ophthalmic experience and relationships with potential purchasers
    of the Product to adequately provide the Services.

 

Product

 

“Product”
shall mean Imprimis’ autologous serum tears formulation.

 

Territory

 

“Territory”
shall mean the United States of America.

 

Exclusivity:

 

Surgical
shall not promote, market or sell any products for any third party during the Term, which directly or indirectly compete with
the Product.

 

Imprimis
Support, Training & Marketing:

 

Imprimis
has provided marketing materials and product information to Surgical and the Sales Team which they have deemed adequate in order
to allow them to understand the Product and perform the Services. Surgical’s Chief Executive Officer and Imprimis’
Chief Commercial Officer shall initially meet, and continue to meet on a regular basis, to transition, train and manage the Sales
Team in order to allow them to integrate into the existing Imprimis commercial sales and marketing plan and adequately perform
the Services during the Term. 

 

    	 	Page 8 of 11	 

    	 	 	 

    

 

The
Sales Team shall use only such marketing and other materials for the Product in the Territory as are expressly approved in writing
in advance by Imprimis, are consistent in all respects with the external marketing of such Product by Imprimis, include all warnings
and instructions applicable for the proper use of the Product, comply with all applicable laws and regulations in the Territory,
and do not contain any claims regarding a Product or its performance that the Sales Team does not reasonably demonstrate are supported
by such Product or its performance. The Sales Team has adequate experience and is knowledgeable in applicable state and federal
laws and FDA regulations related to the sales and marketing of the Product in the Territory, including, but not limited to: Stark
Law; Anti-Kickback Statute; Food, Drug and Cosmetic Act (Sections 503A and 503B); and Drug Quality and Security Act.

 

The
Sales Team shall have the right to use copies of marketing materials provided by Imprimis to the Sales Team hereunder to the extent
reasonably necessary to perform its obligations under this Agreement and subject to the terms and conditions of this Agreement.
If Imprimis reasonably believes that any marketing materials or strategies used by the Sales Team for the Product in the Territory
fail to fully comply with the terms and conditions of this Agreement or any applicable law, Imprimis shall give written notice
thereof and the Sales Team immediately shall cease to use such non-compliant materials.

 

The
Sales Team shall not make any warranty or claim, express or implied, relating to any Product other than those contained in any
marketing materials provided by Imprimis to the Sales Team or otherwise expressly authorized in writing by Imprimis. 

 

Compensation:

 

	 	1.	Sales
    Commissions. During the Term of the Agreement and subject to the terms and conditions of the Agreement, Imprimis shall
    pay to Surgical Sales Commissions equal to ten percent (10%) of the Net Sales for Product.
	 	 	 
	 	 	“Net
    Sales” shall mean the gross sales price of such Product in the Territory invoiced by Imprimis and its affiliates
    to customers who are not affiliates less: (a) credits, allowances, discounts and rebates to, and chargebacks from the account
    of, such customers; (b) freight and insurance costs in transporting such Product; (c) cash, quantity and trade discounts,
    rebates and other price reductions for such Product; (d) sales, use, value-added and other direct taxes; and (e) an allowance
    for uncollectible or bad debts determined in accordance with accounting principles generally accepted in the United States
    of America (“GAAP”).
	 	 	 
	 	2.	Milestone
    Payments; Stock Issuances.

 

	 	 	a.	Initial
    Milestone Payment. An initial milestone payment of five thousand (5,000) shares of Imprimis’ restricted common stock,
    par value $0.001 (“Common Stock”) shall become due and issuable to Surgical if Net Sales for Product reaches
    $2,000,000 prior to December 31, 2017. 
	 	 	 	 
	 	 	b.	Periodic
    Milestone Payments. In addition to the initial milestone payment as outlined in Section 2(a) above, Imprimis may make
    four (4) additional milestone payments to Surgical during the Term as follows:

 

    	 	Page 9 of 11	 

    	 	 	 

    

 

	 	 	 	i.	seven
    thousand five hundred (7,500) shares of Common Stock if Net Sales for Product reaches $2,500,000;
	 	 	 	 	 
	 	 	 	ii.	seven
    thousand five hundred (7,500) shares of Common Stock if Net Sales for Product reaches $5,000,000;
	 	 	 	 	 
	 	 	 	iii.	seven
    thousand five hundred (7,500) shares of Common Stock if Net Sales for Product reaches $7,500,000; and
	 	 	 	 	 
	 	 	 	iv.	seven
    thousand five hundred (7,500) shares of Common Stock if Net Sales for Product reaches $10,000,000.

 

	 	 	c.	Insider
    Trading Policy. If any shares of Common Stock are issued to Surgical, Surgical (or any related holder of Common Stock)
    shall be required to execute and follow Imprimis’ standard form insider trading policy. 

 

Term
& Termination:

 

	 	1.	Term.
    The Agreement shall commence on the Effective Date and, unless terminated earlier pursuant to this Agreement or extended by
    mutual agreement between the parties, shall continue in effect for thirty six (36) months following the Effective Date (the
    “Term”).
	 	 	 
	 	2.	Termination.
    Either party shall have the right to terminate this Agreement at any time for any reason. Expiration or termination of this
    Agreement shall not limit any obligations of a party that were incurred prior to such expiration or termination. 

 

    	 	Page 10 of 11	 

    	 	 	 

    

 

EXHIBIT
A

 

Confidentiality
Agreement

 

    	 	Page 11 of 11

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