Document:

Exhibit 4.4

 

REGISTRATION
RIGHTS AGREEMENT

 

This
Registration Rights Agreement (this “Agreement”) is made and entered into as of February 24, 2021, by and between
Xtant Medical Holdings, Inc., a Delaware corporation (the “Company”), and each of the several purchasers signatory
hereto (each such purchaser, a “Purchaser” and, collectively, the “Purchasers”).

 

This
Agreement is made pursuant to the Securities Purchase Agreement, dated as of the date hereof, between the Company and each Purchaser
(the “Purchase Agreement”).

 

The
Company and each Purchaser hereby agrees as follows:

 

1.
Definitions.

 

Capitalized
terms used and not otherwise defined herein that are defined in the Purchase Agreement shall have the meanings given such terms
in the Purchase Agreement. As used in this Agreement, the following terms shall have the following meanings:

 

“Advice”
shall have the meaning set forth in Section 6(d).

 

“Effectiveness
Date” means, with respect to the Initial Registration Statement required to be filed hereunder, the 60th
calendar day following the date hereof (or, in the event of a “full review” by the Commission, the 75th
calendar day following the date hereof) and with respect to any additional Registration Statements which may be required pursuant
to Section 2(c) or Section 3(c), the 30th calendar day following the date on which an additional Registration Statement
is required to be filed hereunder (or, in the event of a “full review” by the Commission, the 60th calendar
day following the date such additional Registration Statement is required to be filed hereunder); provided, however,
that in the event the Company is notified by the Commission that one or more of the above Registration Statements will not be
reviewed or is no longer subject to further review and comments, the Effectiveness Date as to such Registration Statement shall
be the fifth Trading Day following the date on which the Company is so notified if such date precedes the dates otherwise required
above, provided, further, if such Effectiveness Date falls on a day that is not a Trading Day, then the Effectiveness Date shall
be the next succeeding Trading Day.

 

“Effectiveness
Period” shall have the meaning set forth in Section 2(a).

 

“Event”
shall have the meaning set forth in Section 2(d).

 

“Event
Date” shall have the meaning set forth in Section 2(d).

 

“Filing
Date” means, with respect to the Initial Registration Statement required hereunder, the 45th calendar day
following the date hereof (or, if such deadline falls on a weekend or federal holiday, then the next business day thereafter)
and, with respect to any additional Registration Statements which may be required pursuant to Section 2(c) or Section 3(c), the
earliest practical date on which the Company is permitted by SEC Guidance to file such additional Registration Statement related
to the Registrable Securities.

 

“Holder”
or “Holders” means the holder or holders, as the case may be, from time to time of Registrable Securities.

 

“Indemnified
Party” shall have the meaning set forth in Section 5(c).

 

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“Indemnifying
Party” shall have the meaning set forth in Section 5(c).

 

“Initial
Registration Statement” means an initial Registration Statement filed pursuant to this Agreement.

 

“Losses”
shall have the meaning set forth in Section 5(a).

 

“Plan
of Distribution” shall have the meaning set forth in Section 2(a).

 

“Prospectus”
means the prospectus included in a Registration Statement (including, without limitation, a prospectus that includes any information
previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A promulgated
by the Commission pursuant to the Securities Act), as amended or supplemented by any prospectus supplement, with respect to the
terms of the offering of any portion of the Registrable Securities covered by a Registration Statement, and all other amendments
and supplements to the Prospectus, including post-effective amendments, and all material incorporated by reference or deemed to
be incorporated by reference in such Prospectus.

 

“Registrable
Securities” means, as of any date of determination, (a) all Shares, (b) all Warrant Shares then issued and issuable
upon exercise of the Warrants (assuming on such date the Warrants are exercised in full without regard to any exercise limitations
therein) and upon exercise of the Placement Agent Warrant dated the date hereof, and (c) any securities issued or then issuable
upon any stock split, dividend or other distribution, recapitalization or similar event with respect to the foregoing; provided,
however, that any such Registrable Securities shall cease to be Registrable Securities (and the Company shall not be required
to maintain the effectiveness of any, or file another, Registration Statement hereunder with respect thereto) for so long as (a)
a Registration Statement with respect to the sale of such Registrable Securities is declared effective by the Commission under
the Securities Act and such Registrable Securities have been disposed of by the Holder in accordance with such effective Registration
Statement, (b) such Registrable Securities have been previously sold in accordance with Rule 144, or (c) such securities become
eligible for resale without volume or manner-of-sale restrictions and without current public information pursuant to Rule 144
as set forth in a written opinion letter to such effect, addressed, delivered and acceptable to the Transfer Agent and the affected
Holders (assuming that such securities and any securities issuable upon exercise, conversion or exchange of which, or as a dividend
upon which, such securities were issued or are issuable, were at no time held by any Affiliate of the Company , and all
Warrants are exercised by “cashless exercise” as provided in Section 2(c) of each of the Warrants), as reasonably
determined by the Company, upon the advice of counsel to the Company.

 

“Registration
Statement” means any registration statement required to be filed hereunder pursuant to Section 2(a) and any additional
registration statements contemplated by Section 2(c) or Section 3(c), including (in each case) the Prospectus, amendments and
supplements to any such registration statement or Prospectus, including pre- and post-effective amendments, all exhibits thereto,
and all material incorporated by reference or deemed to be incorporated by reference in any such registration statement.

 

“Rule
415” means Rule 415 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted
from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose
and effect as such Rule.

 

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“Rule
424” means Rule 424 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted
from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose
and effect as such Rule.

 

“Selling
Stockholder Questionnaire” shall have the meaning set forth in Section 3(a).

 

“SEC
Guidance” means (i) any publicly-available written or oral guidance of the Commission staff, or any comments, requirements
or requests of the Commission staff and (ii) the Securities Act.

 

2.
Shelf Registration.

 

(a)
On or prior to each Filing Date, the Company shall prepare and file with the Commission one or more Registration Statements covering
the resale of all of the Registrable Securities that are not then registered on an effective Registration Statement for an offering
to be made on a continuous basis pursuant to Rule 415. Each Registration Statement filed hereunder shall be on Form S-3 (except
if the Company is not then eligible to register for resale the Registrable Securities on Form S-3, in which case such registration
shall be on another appropriate form in accordance herewith, subject to the provisions of Section 2(e)) and shall contain (unless
otherwise directed by at least 85% in interest of the Holders) substantially the “Plan of Distribution” attached
hereto as Annex A and substantially the “Selling Stockholder” section attached hereto as Annex B;
provided, however, that no Holder shall be required to be named as an “underwriter” without such Holder’s
express prior written consent. Subject to the terms of this Agreement, the Company shall use its commercially reasonable efforts
to cause a Registration Statement filed under this Agreement (including, without limitation, under Section 3(c)) to be declared
effective under the Securities Act as promptly as possible after the filing thereof, but in any event no later than the applicable
Effectiveness Date, and shall use its commercially reasonable efforts to keep such Registration Statement continuously effective
under the Securities Act until the date that all Registrable Securities covered by such Registration Statement (i) have been sold,
thereunder or pursuant to Rule 144, or (ii) may be sold without volume or manner-of-sale restrictions pursuant to Rule 144 and
without the requirement for the Company to be in compliance with the current public information requirement under Rule 144, as
determined by the counsel to the Company pursuant to a written opinion letter to such effect, addressed and acceptable to the
Transfer Agent and the affected Holders (the “Effectiveness Period”). The Company shall telephonically request
effectiveness of a Registration Statement as of 5:00 p.m. (New York City time) on a Trading Day. The Company shall immediately
notify the Holders via facsimile or by e-mail of the effectiveness of a Registration Statement on the same Trading Day that the
Company telephonically confirms effectiveness with the Commission, which shall be the date requested for effectiveness of such
Registration Statement. The Company shall, by 9:30 a.m. (New York City time) on the Trading Day after the effective date of such
Registration Statement, file a final Prospectus with the Commission as and if required by Rule 424.

 

(b)
Notwithstanding the registration obligations set forth in Section 2(a), if the Commission informs the Company that all of the
Registrable Securities cannot, as a result of the application of Rule 415, be registered for resale as a secondary offering on
a single registration statement, the Company agrees to promptly inform each of the Holders thereof and use its commercially reasonable
efforts to file amendments to the Initial Registration Statement as required by the Commission, covering the maximum number of
Registrable Securities permitted to be registered by the Commission, on Form S-3 or such other form available to register for
resale the Registrable Securities as a secondary offering; with respect to filing on Form S-3 or other appropriate form, and subject
to the provisions of Section 2(d) with respect to the payment of liquidated damages; provided, however, that prior
to filing such amendment, the Company shall be obligated to use diligent efforts to advocate with the Commission for the registration
of all of the Registrable Securities in accordance with the SEC Guidance, including without limitation, Compliance and Disclosure
Interpretation 612.09.

 

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(c)
Notwithstanding any other provision of this Agreement and subject to the payment of liquidated damages pursuant to Section 2(d),
if the Commission or any SEC Guidance sets forth a limitation on the number of Registrable Securities permitted to be registered
on a particular Registration Statement as a secondary offering (and notwithstanding that the Company used diligent efforts to
advocate with the Commission for the registration of all or a greater portion of Registrable Securities), unless otherwise directed
in writing by a Holder as to its Registrable Securities, the number of Registrable Securities to be registered on such Registration
Statement will be reduced as follows:

 

	 	a.	First,
    the Company shall reduce or eliminate any securities to be included other than Registrable Securities;
	 	 	 
	 	b.	Second,
    the Company shall reduce Registrable Securities represented by Warrant Shares (applied, in the case that some Warrant Shares
    may be registered, to the Holders on a pro rata basis based on the total number of unregistered Warrant Shares held by such
    Holders); and
	 	 	 
	 	c.	Third,
    the Company shall reduce Registrable Securities represented by Shares (applied, in the case that some Shares may be registered,
    to the Holders on a pro rata basis based on the total number of unregistered Shares held by such Holders).

 

In
the event of a cutback hereunder, the Company shall give the Holder at least two (2) Trading Days prior written notice along with
the calculations as to such Holder’s allotment. In the event the Company amends the Initial Registration Statement in accordance
with the foregoing, the Company will use its commercially reasonable efforts to file with the Commission, as promptly as allowed
by Commission or SEC Guidance provided to the Company or to registrants of securities in general, one or more registration statements
on Form S-3 or such other form available to register for resale those Registrable Securities that were not registered for resale
on the Initial Registration Statement, as amended.

 

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(d)
If: (i) the Initial Registration Statement is not filed on or prior to its Filing Date (if the Company files the Initial Registration
Statement without affording the Holders the opportunity to review and comment on the same as required by Section 3(a) herein,
the Company shall be deemed to have not satisfied this clause (i)), or (ii) the Company fails to file with the Commission a request
for acceleration of a Registration Statement in accordance with Rule 461 promulgated by the Commission pursuant to the Securities
Act, within five (5) Trading Days of the date that the Company is notified (orally or in writing, whichever is earlier) by the
Commission that such Registration Statement will not be “reviewed” or will not be subject to further review, or (iii)
prior to the effective date of a Registration Statement, the Company fails to file a pre-effective amendment and otherwise respond
in writing to comments made by the Commission in respect of such Registration Statement within ten (10) calendar days after the
receipt of comments by or notice from the Commission that such amendment is required in order for such Registration Statement
to be declared effective, or (iv) a Registration Statement registering for resale all of the Registrable Securities is not declared
effective by the Commission by the Effectiveness Date of the Initial Registration Statement, or (v) after the effective date of
a Registration Statement, such Registration Statement ceases for any reason to remain continuously effective as to all Registrable
Securities included in such Registration Statement, or the Holders are otherwise not permitted to utilize the Prospectus therein
to resell such Registrable Securities, for more than ten (10) consecutive calendar days or more than an aggregate of fifteen (15)
calendar days (which need not be consecutive calendar days) during any 12-month period (any such failure or breach being referred
to as an “Event”, and for purposes of clauses (i) and (iv), the date on which such Event occurs, and for purpose
of clause (ii) the date on which such five (5) Trading Day period is exceeded, and for purpose of clause (iii) the date which
such ten (10) calendar day period is exceeded, and for purpose of clause (v) the date on which such ten (10) or fifteen (15) calendar
day period, as applicable, is exceeded being referred to as “Event Date”), then, in addition to any other rights
the Holders may have hereunder or under applicable law, on each such Event Date and on each monthly anniversary of each such Event
Date (if the applicable Event shall not have been cured by such date) until the applicable Event is cured, the Company shall pay
to each Holder an amount in cash, as partial liquidated damages and not as a penalty, equal to the product of 2.0% multiplied
by the aggregate Subscription Amount paid by such Holder pursuant to the Purchase Agreement. If the Company fails to pay any partial
liquidated damages pursuant to this Section in full within seven days after the date payable, the Company will pay interest thereon
at a rate of 12% per annum (or such lesser maximum amount that is permitted to be paid by applicable law) to the Holder, accruing
daily from the date such partial liquidated damages are due until such amounts, plus all such interest thereon, are paid in full.
The partial liquidated damages pursuant to the terms hereof shall apply on a daily pro rata basis for any portion of a month prior
to the cure of an Event. Notwithstanding anything to the contrary herein, in no event shall the aggregate amount of liquidated
damages (excluding interest) payable to the Holder pursuant to this Section exceed, in the aggregate, 10.0% of the aggregate purchase
price paid by the Purchasers for the Securities issued at Closing.

 

(e)
If Form S-3 is not available for the registration of the resale of Registrable Securities hereunder, the Company shall (i) register
the resale of the Registrable Securities on another appropriate form and (ii) undertake to register the Registrable Securities
on Form S-3 as soon as such form is available, provided that the Company shall maintain the effectiveness of the Registration
Statement then in effect until such time as a Registration Statement on Form S-3 covering the Registrable Securities has been
declared effective by the Commission.

 

(f)
Notwithstanding anything to the contrary contained herein, in no event shall the Company be permitted to name any Holder or affiliate
of a Holder as any Underwriter without the prior written consent of such Holder.

 

3.
Registration Procedures.

 

In
connection with the Company’s registration obligations hereunder, the Company shall:

 

(a)
Not less than three (3) Trading Days prior to the filing of each Registration Statement and not less than one (1) Trading Day
prior to the filing of any related Prospectus or any amendment or supplement thereto (including any document that would be incorporated
or deemed to be incorporated therein by reference), the Company shall (i) furnish to each Holder copies of all such documents
proposed to be filed, which documents (other than those incorporated or deemed to be incorporated by reference) will be subject
to the review of such Holders, and (ii) cause its officers and directors, counsel and independent registered public accountants
to respond to such inquiries as shall be necessary, in the reasonable opinion of respective counsel to each Holder, to conduct
a reasonable investigation within the meaning of the Securities Act. The Company shall not file a Registration Statement or any
such Prospectus or any amendments or supplements thereto to which the Holders of a majority of the Registrable Securities shall
reasonably object in good faith, provided that, the Company is notified of such objection in writing no later than five (5) Trading
Days after the Holders have been so furnished copies of a Registration Statement or one (1) Trading Day after the Holders have
been so furnished copies of any related Prospectus or amendments or supplements thereto. Each Holder agrees to furnish to the
Company a completed questionnaire in the form attached to this Agreement as Annex C (a “Selling Stockholder Questionnaire”)
on a date that is not less than two (2) Trading Days prior to the Filing Date or by the end of the fourth (4th) Trading
Day following the date on which such Holder receives draft materials in accordance with this Section.

 

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(b)
(i) Prepare and file with the Commission such amendments, including post-effective amendments, to a Registration Statement and
the Prospectus used in connection therewith as may be necessary to keep a Registration Statement continuously effective as to
the applicable Registrable Securities for the Effectiveness Period and prepare and file with the Commission such additional Registration
Statements in order to register for resale under the Securities Act all of the Registrable Securities, (ii) cause the related
Prospectus to be amended or supplemented by any required Prospectus supplement (subject to the terms of this Agreement), and,
as so supplemented or amended, to be filed pursuant to Rule 424, (iii) respond as promptly as reasonably possible to any comments
received from the Commission with respect to a Registration Statement or any amendment thereto and provide as promptly as reasonably
possible to the Holders true and complete copies of all correspondence from and to the Commission relating to a Registration Statement
(provided that, the Company shall excise any information contained therein which would constitute material non-public information
regarding the Company or any of its Subsidiaries), and (iv) comply in all material respects with the applicable provisions of
the Securities Act and the Exchange Act with respect to the disposition of all Registrable Securities covered by a Registration
Statement during the applicable period in accordance (subject to the terms of this Agreement) with the intended methods of disposition
by the Holders thereof set forth in such Registration Statement as so amended or in such Prospectus as so supplemented.

 

(c)
If during the Effectiveness Period, the number of Registrable Securities at any time exceeds 100% of the number of shares of Common
Stock then registered in a Registration Statement, then the Company shall file as soon as reasonably practicable, but in any case
prior to the applicable Filing Date, an additional Registration Statement covering the resale by the Holders of not less than
the number of such Registrable Securities.

 

(d)
Notify the Holders of Registrable Securities to be sold (which notice shall, pursuant to clauses (iii) through (vi) hereof, be
accompanied by an instruction to suspend the use of the Prospectus until the requisite changes have been made) as promptly as
reasonably possible (and, in the case of (i)(A) below, not less than one (1) Trading Day prior to such filing) and (if requested
by any such Person) confirm such notice in writing no later than one (1) Trading Day following the day (i)(A) when a Prospectus
or any Prospectus supplement or post-effective amendment to a Registration Statement is proposed to be filed, (B) when the Commission
notifies the Company whether there will be a “review” of such Registration Statement and whenever the Commission comments
in writing on such Registration Statement, and (C) with respect to a Registration Statement or any post-effective amendment, when
the same has become effective, (ii) of any request by the Commission or any other federal or state governmental authority for
amendments or supplements to a Registration Statement or Prospectus or for additional information, (iii) of the issuance by the
Commission or any other federal or state governmental authority of any stop order suspending the effectiveness of a Registration
Statement covering any or all of the Registrable Securities or the initiation of any Proceedings for that purpose, (iv) of the
receipt by the Company of any notification with respect to the suspension of the qualification or exemption from qualification
of any of the Registrable Securities for sale in any jurisdiction, or the initiation or threatening of any Proceeding for such
purpose, (v) of the occurrence of any event or passage of time that makes the financial statements included in a Registration
Statement ineligible for inclusion therein or any statement made in a Registration Statement or Prospectus or any document incorporated
or deemed to be incorporated therein by reference untrue in any material respect or that requires any revisions to a Registration
Statement, Prospectus or other documents so that, in the case of a Registration Statement or the Prospectus, as the case may be,
it will not contain 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, in light of the circumstances under which they were made, not misleading, and (vi) of
the occurrence or existence of any pending corporate development with respect to the Company that the Company believes may be
material and that, in the determination of the Company, makes it not in the best interest of the Company to allow continued availability
of a Registration Statement or Prospectus; provided, however, that in no event shall any such notice contain any
information which would constitute material, non-public information regarding the Company or any of its Subsidiaries.

 

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(e)
Use its commercially reasonable efforts to avoid the issuance of, or, if issued, obtain the withdrawal of (i) any order stopping
or suspending the effectiveness of a Registration Statement, or (ii) any suspension of the qualification (or exemption from qualification)
of any of the Registrable Securities for sale in any jurisdiction, at the earliest practicable moment.

 

(f)
If requested by a Holder, furnish to each Holder, without charge, at least one conformed copy of each such Registration Statement
and each amendment thereto, including financial statements and schedules, all documents incorporated or deemed to be incorporated
therein by reference to the extent requested by such Person, and all exhibits to the extent requested by such Person (including
those previously furnished or incorporated by reference) promptly after the filing of such documents with the Commission, provided
that any such item which is available on the EDGAR system (or successor thereto) need not be furnished in physical form.

 

(g)
Subject to the terms of this Agreement, the Company hereby consents to the use of such Prospectus and each amendment or supplement
thereto by each of the selling Holders in connection with the offering and sale of the Registrable Securities covered by such
Prospectus and any amendment or supplement thereto, except after the giving of any notice pursuant to Section 3(d).

 

(h)
Prior to any resale of Registrable Securities by a Holder, use its commercially reasonable efforts to register or qualify or cooperate
with the selling Holders in connection with the registration or qualification (or exemption from the Registration or qualification)
of such Registrable Securities for the resale by the Holder under the securities or Blue Sky laws of such jurisdictions within
the United States as any Holder reasonably requests in writing, to keep each registration or qualification (or exemption therefrom)
effective during the Effectiveness Period and to do any and all other acts or things reasonably necessary to enable the disposition
in such jurisdictions of the Registrable Securities covered by each Registration Statement, provided that the Company shall not
be required to qualify generally to do business in any jurisdiction where it is not then so qualified, subject the Company to
any material tax in any such jurisdiction where it is not then so subject or file a general consent to service of process in any
such jurisdiction.

 

(i)
If requested by a Holder, cooperate with such Holder to facilitate the timely preparation and delivery of certificates representing
Registrable Securities to be delivered to a transferee pursuant to a Registration Statement, which certificates shall be free,
to the extent permitted by the Purchase Agreement, of all restrictive legends, and to enable such Registrable Securities to be
in such denominations and registered in such names as any such Holder may request.

 

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(j)
Upon the occurrence of any event contemplated by Section 3(d), as promptly as reasonably possible under the circumstances taking
into account the Company’s good faith assessment of any adverse consequences to the Company and its stockholders of the
premature disclosure of such event, prepare a supplement or amendment, including a post-effective amendment, to a Registration
Statement or a supplement to the related Prospectus or any document incorporated or deemed to be incorporated therein by reference,
and file any other required document so that, as thereafter delivered, neither a Registration Statement nor such Prospectus will
contain an 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. If the Company notifies
the Holders in accordance with clauses (iii) through (vi) of Section 3(d) above to suspend the use of any Prospectus until the
requisite changes to such Prospectus have been made, then the Holders shall suspend use of such Prospectus. The Company will use
its commercially reasonable efforts to ensure that the use of the Prospectus may be resumed as promptly as is practicable. The
Company shall be entitled to exercise its right under this Section 3(j) to suspend the availability of a Registration Statement
and Prospectus, subject to the payment of partial liquidated damages otherwise required pursuant to Section 2(d), for a period
not to exceed 60 calendar days (which need not be consecutive days) in any 12-month period.

 

(k)
Otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission under the
Securities Act and the Exchange Act, including, without limitation, Rule 172 under the Securities Act, file any final Prospectus,
including any supplement or amendment thereof, with the Commission pursuant to Rule 424 under the Securities Act, promptly inform
the Holders in writing if, at any time during the Effectiveness Period, the Company does not satisfy the conditions specified
in Rule 172 and, as a result thereof, the Holders are required to deliver a Prospectus in connection with any disposition of Registrable
Securities and take such other actions as may be reasonably necessary to facilitate the registration of the Registrable Securities
hereunder.

 

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

 

(m)
The Company may require each selling Holder to furnish to the Company a certified statement as to the number of shares of Common
Stock beneficially owned by such Holder and, if required by the Commission, the natural persons thereof that have voting and dispositive
control over the shares. During any periods that the Company is unable to meet its obligations hereunder with respect to the registration
of the Registrable Securities solely because any Holder fails to furnish such information within three Trading Days of the Company’s
request, any liquidated damages that are accruing at such time as to such Holder only shall be tolled and any Event that may otherwise
occur solely because of such delay shall be suspended as to such Holder only, until such information is delivered to the Company.

 

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4.
Registration Expenses. All fees and expenses incident to the performance of or compliance with, this Agreement by the Company
shall be borne by the Company whether or not any Registrable Securities are sold pursuant to a Registration Statement. The fees
and expenses referred to in the foregoing sentence shall include, without limitation, (i) all registration and filing fees (including,
without limitation, fees and expenses of the Company’s counsel and independent registered public accountants) (A) with respect
to filings made with the Commission, (B) with respect to filings required to be made with any Trading Market on which the Common
Stock is then listed for trading, and (C) in compliance with applicable state securities or Blue Sky laws reasonably agreed to
by the Company in writing (including, without limitation, fees and disbursements of counsel for the Company in connection with
Blue Sky qualifications or exemptions of the Registrable Securities), (ii) printing expenses (including, without limitation, expenses
of printing certificates for Registrable Securities), (iii) messenger, telephone and delivery expenses, (iv) fees and disbursements
of counsel for the Company, (v) Securities Act liability insurance, if the Company so desires such insurance, and (vi) fees and
expenses of all other Persons retained by the Company in connection with the consummation of the transactions contemplated by
this Agreement. In addition, the Company shall be responsible for all of its internal expenses incurred in connection with the
consummation of the transactions contemplated by this Agreement (including, without limitation, all salaries and expenses of its
officers and employees performing legal or accounting duties), the expense of any annual audit and the fees and expenses incurred
in connection with the listing of the Registrable Securities on any securities exchange as required hereunder. In no event shall
the Company be responsible for any broker or similar commissions of any Holder or, except to the extent provided for in the Transaction
Documents, any legal fees or other costs of the Holders.

 

5.
Indemnification.

 

(a)
Indemnification by the Company. The Company shall, notwithstanding any termination of this Agreement, indemnify and hold
harmless each Holder, the officers, directors, members, partners, agents, brokers (including brokers who offer and sell Registrable
Securities as principal as a result of a pledge or any failure to perform under a margin call of Common Stock), investment advisors
and employees (and any other Persons with a functionally equivalent role of a Person holding such titles, notwithstanding a lack
of such title or any other title) of each of them, each Person who controls any such Holder (within the meaning of Section 15
of the Securities Act or Section 20 of the Exchange Act) and the officers, directors, members, stockholders, partners, agents
and employees (and any other Persons with a functionally equivalent role of a Person holding such titles, notwithstanding a lack
of such title or any other title) of each such controlling Person, to the fullest extent permitted by applicable law, from and
against any and all losses, claims, damages, liabilities, costs (including, without limitation, reasonable attorneys’ fees)
and expenses (collectively, “Losses”), as incurred, arising out of or relating to (1) any untrue or alleged
untrue statement of a material fact contained in a Registration Statement, any Prospectus or any form of prospectus or in any
amendment or supplement thereto or in any preliminary prospectus, or arising out of or relating to any omission or alleged omission
of a material fact required to be stated therein or necessary to make the statements therein (in the case of any Prospectus or
supplement thereto, in light of the circumstances under which they were made) not misleading or (2) any violation or alleged violation
by the Company of the Securities Act, the Exchange Act or any state securities law, or any rule or regulation thereunder, in connection
with the performance of its obligations under this Agreement, except to the extent, but only to the extent, that (i) such untrue
statements or omissions are based solely upon information regarding such Holder furnished in writing to the Company by such Holder
expressly for use therein, or to the extent that such information relates to such Holder or such Holder’s proposed method
of distribution of Registrable Securities and was reviewed and expressly approved in writing by such Holder expressly for use
in a Registration Statement, such Prospectus or in any amendment or supplement thereto (it being understood that the Holder has
approved Annex A hereto for this purpose) or (ii) in the case of an occurrence of an event of the type specified in Section 3(d)(iii)-(vi),
the use by such Holder of an outdated, defective or otherwise unavailable Prospectus after the Company has notified such Holder
in writing that the Prospectus is outdated, defective or otherwise unavailable for use by such Holder and prior to the receipt
by such Holder of the Advice contemplated in Section 6(d). The Company shall notify the Holders promptly of the institution, threat
or assertion of any Proceeding arising from or in connection with the transactions contemplated by this Agreement of which the
Company is aware. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of
such indemnified person and shall survive the transfer of any Registrable Securities by any of the Holders in accordance with
Section 6(g).

 

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(b)
Indemnification by Holders. Each Holder shall, severally and not jointly, indemnify and hold harmless the Company, its
directors, officers, agents and employees, each Person who controls the Company (within the meaning of Section 15 of the Securities
Act and Section 20 of the Exchange Act), and the directors, officers, agents or employees of such controlling Persons, to the
fullest extent permitted by applicable law, from and against all Losses, as incurred, to the extent arising out of or based solely
upon: any untrue or alleged untrue statement of a material fact contained in any Registration Statement, any Prospectus, or in
any amendment or supplement thereto or in any preliminary prospectus, or arising out of or relating to any omission or alleged
omission of a material fact required to be stated therein or necessary to make the statements therein (in the case of any Prospectus
or supplement thereto, in light of the circumstances under which they were made) not misleading (i) to the extent, but only to
the extent, that such untrue statement or omission is contained in any information so furnished in writing by such Holder to the
Company expressly for inclusion in such Registration Statement or such Prospectus or (ii) to the extent, but only to the extent,
that such information relates to such Holder’s information provided in the Selling Stockholder Questionnaire or the proposed
method of distribution of Registrable Securities and was reviewed and expressly approved in writing by such Holder expressly for
use in a Registration Statement (it being understood that the Holder has approved Annex A hereto for this purpose), such Prospectus
or in any amendment or supplement thereto. In no event shall the liability of a selling Holder be greater in amount than the dollar
amount of the proceeds (net of all expenses paid by such Holder in connection with any claim relating to this Section 5 and the
amount of any damages such Holder has otherwise been required to pay by reason of such untrue statement or omission) received
by such Holder upon the sale of the Registrable Securities included in the Registration Statement giving rise to such indemnification
obligation.

 

(c)
Conduct of Indemnification Proceedings. If any Proceeding shall be brought or asserted against any Person entitled to indemnity
hereunder (an “Indemnified Party”), such Indemnified Party shall promptly notify the Person from whom indemnity
is sought (the “Indemnifying Party”) in writing, and the Indemnifying Party shall have the right to assume
the defense thereof, including the employment of counsel reasonably satisfactory to the Indemnified Party and the payment of all
fees and expenses incurred in connection with defense thereof, provided that the failure of any Indemnified Party to give such
notice shall not relieve the Indemnifying Party of its obligations or liabilities pursuant to this Agreement, except (and only)
to the extent that it shall be finally determined by a court of competent jurisdiction (which determination is not subject to
appeal or further review) that such failure shall have materially and adversely prejudiced the Indemnifying Party.

 

An
Indemnified Party shall have the right to employ separate counsel in any such Proceeding and to participate in the defense thereof,
but the fees and expenses of such counsel shall be at the expense of such Indemnified Party or Parties unless: (1) the Indemnifying
Party has agreed in writing to pay such fees and expenses, (2) the Indemnifying Party shall have failed promptly to assume the
defense of such Proceeding and to employ counsel reasonably satisfactory to such Indemnified Party in any such Proceeding, or
(3) the named parties to any such Proceeding (including any impleaded parties) include both such Indemnified Party and the Indemnifying
Party, and counsel to the Indemnified Party shall reasonably believe that a material conflict of interest is likely to exist if
the same counsel were to represent such Indemnified Party and the Indemnifying Party (in which case, if such Indemnified Party
notifies the Indemnifying Party in writing that it elects to employ separate counsel at the expense of the Indemnifying Party,
the Indemnifying Party shall not have the right to assume the defense thereof and the reasonable fees and expenses of no more
than one separate counsel shall be at the expense of the Indemnifying Party). The Indemnifying Party shall not be liable for any
settlement of any such Proceeding effected without its written consent, which consent shall not be unreasonably withheld or delayed.
No Indemnifying Party shall, without the prior written consent of the Indemnified Party, effect any settlement of any pending
Proceeding in respect of which any Indemnified Party is a party, unless such settlement includes an unconditional release of such
Indemnified Party from all liability on claims that are the subject matter of such Proceeding.

 

    	10

    	 

    

 

Subject
to the terms of this Agreement, all reasonable fees and expenses of the Indemnified Party (including reasonable fees and expenses
to the extent incurred in connection with investigating or preparing to defend such Proceeding in a manner not inconsistent with
this Section) shall be paid to the Indemnified Party, as incurred, within ten Trading Days of written notice thereof to the Indemnifying
Party, provided that the Indemnified Party shall promptly reimburse the Indemnifying Party for that portion of such fees and expenses
applicable to such actions for which such Indemnified Party is finally determined by a court of competent jurisdiction (which
determination is not subject to appeal or further review) not to be entitled to indemnification hereunder.

 

(d)
Contribution. If the indemnification under Section 5(a) or 5(b) is unavailable to an Indemnified Party or insufficient
to hold an Indemnified Party harmless for any Losses, then each Indemnifying Party shall contribute to the amount paid or payable
by such Indemnified Party, in such proportion as is appropriate to reflect the relative fault of the Indemnifying Party and Indemnified
Party in connection with the actions, statements or omissions that resulted in such Losses as well as any other relevant equitable
considerations. The relative fault of such Indemnifying Party and Indemnified Party shall be determined by reference to, among
other things, whether any action in question, including any untrue or alleged untrue statement of a material fact or omission
or alleged omission of a material fact, has been taken or made by, or relates to information supplied by, such Indemnifying Party
or Indemnified Party, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent
such action, statement or omission. The amount paid or payable by a party as a result of any Losses shall be deemed to include,
subject to the limitations set forth in this Agreement, any reasonable attorneys’ or other fees or expenses incurred by
such party in connection with any Proceeding to the extent such party would have been indemnified for such fees or expenses if
the indemnification provided for in this Section was available to such party in accordance with its terms.

 

The
parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 5(d) were determined by
pro rata allocation or by any other method of allocation that does not take into account the equitable considerations referred
to in the immediately preceding paragraph. In no event shall the contribution obligation of a Holder of Registrable Securities
be greater in amount than the dollar amount of the proceeds (net of all expenses paid by such Holder in connection with any claim
relating to this Section 5 and the amount of any damages such Holder has otherwise been required to pay by reason of such untrue
or alleged untrue statement or omission or alleged omission) received by it upon the sale of the Registrable Securities giving
rise to such contribution obligation.

 

The
indemnity and contribution agreements contained in this Section are in addition to any liability that the Indemnifying Parties
may have to the Indemnified Parties.

 

    	11

    	 

    

 

6.
Miscellaneous.

 

(a)
Remedies. In the event of a breach by the Company or by a Holder of any of their respective obligations under this Agreement,
each Holder or the Company, as the case may be, in addition to being entitled to exercise all rights granted by law and under
this Agreement, including recovery of damages, shall be entitled to specific performance of its rights under this Agreement. Each
of the Company and each Holder agrees that monetary damages would not provide adequate compensation for any losses incurred by
reason of a breach by it of any of the provisions of this Agreement and hereby further agrees that, in the event of any action
for specific performance in respect of such breach, it shall not assert or shall waive the defense that a remedy at law would
be adequate.

 

(b)
No Piggyback on Registrations; Prohibition on Filing Other Registration Statements. Except as set forth on Schedule
6(b) attached hereto, neither the Company nor any of its security holders (other than the Holders in such capacity pursuant
hereto) may include securities of the Company in any Registration Statements other than the Registrable Securities. The Company
shall not file any other registration statements until all Registrable Securities are registered pursuant to a Registration Statement
that is declared effective by the Commission.

 

(c)
[RESERVED].

 

(d)
Discontinued Disposition. By its acquisition of Registrable Securities, each Holder agrees that, upon receipt of a notice
from the Company of the occurrence of any event of the kind described in Section 3(d)(iii) through (vi), such Holder will forthwith
discontinue disposition of such Registrable Securities under a Registration Statement until it is advised in writing (the “Advice”)
by the Company that the use of the applicable Prospectus (as it may have been supplemented or amended) may be resumed. The Company
will use its commercially reasonable efforts to ensure that the use of the Prospectus may be resumed as promptly as is practicable.
The Company agrees and acknowledges that any periods during which the Holder is required to discontinue the disposition of the
Registrable Securities hereunder shall be subject to the provisions of Section 2(d).

 

(e)
Amendments and Waivers. The provisions of this Agreement, including the provisions of this sentence, may not be amended,
modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given, unless the same shall
be in writing and signed by the Company and the Holders of 50.1% or more of the then outstanding Registrable Securities (for purposes
of clarification, this includes any Registrable Securities issuable upon exercise or conversion of any Security), provided that,
if any amendment, modification or waiver disproportionately and adversely impacts a Holder (or group of Holders), the consent
of such disproportionately impacted Holder (or group of Holders) shall be required. If a Registration Statement does not register
all of the Registrable Securities pursuant to a waiver or amendment done in compliance with the previous sentence, then the number
of Registrable Securities to be registered for each Holder shall be reduced pro rata among all Holders and each Holder shall have
the right to designate which of its Registrable Securities shall be omitted from such Registration Statement. Notwithstanding
the foregoing, a waiver or consent to depart from the provisions hereof with respect to a matter that relates exclusively to the
rights of a Holder or some Holders and that does not directly or indirectly affect the rights of other Holders may be given only
by such Holder or Holders of all of the Registrable Securities to which such waiver or consent relates; provided, however,
that the provisions of this sentence may not be amended, modified, or supplemented except in accordance with the provisions of
the first sentence of this Section 6(e). No consideration shall be offered or paid to any Person to amend or consent to a waiver
or modification of any provision of this Agreement unless the same consideration also is offered to all of the parties to this
Agreement.

 

    	12

    	 

    

 

(f)
Notices. Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall
be delivered as set forth in the Purchase Agreement.

 

(g)
Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and permitted assigns
of each of the parties and shall inure to the benefit of each Holder. The Company may not assign (except by merger) its rights
or obligations hereunder without the prior written consent of all of the Holders of the then outstanding Registrable Securities.
Each Holder may assign their respective rights hereunder in the manner and to the Persons as permitted under Section 5.7 of the
Purchase Agreement.

 

(h)
No Inconsistent Agreements. Neither the Company nor any of its Subsidiaries has entered, as of the date hereof, nor shall
the Company or any of its Subsidiaries, on or after the date of this Agreement, enter into any agreement with respect to its securities,
that would have the effect of impairing the rights granted to the Holders in this Agreement or otherwise conflicts with the provisions
hereof. Except as set forth in the SEC Reports, neither the Company nor any of its Subsidiaries has previously entered into any
agreement granting any registration rights with respect to any of its securities to any Person that have not been satisfied in
full.

 

(i)
Execution and Counterparts. This Agreement may be executed in two or more counterparts, all of which when taken together
shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and
delivered to the other party, it being understood that both parties need not sign the same counterpart. In the event that any
signature is delivered by facsimile transmission or by e-mail delivery of a “.pdf” format data file, such signature
shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same
force and effect as if such facsimile or “.pdf” signature page were an original thereof.

 

(j)
Governing Law. All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall
be determined in accordance with the provisions of the Purchase Agreement.

 

(k)
Cumulative Remedies. The remedies provided herein are cumulative and not exclusive of any other remedies provided by law.

 

(l)
Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction
to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein
shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use
their commercially reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result
as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention
of the parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any
of such that may be hereafter declared invalid, illegal, void or unenforceable.

 

(m)
Headings. The headings in this Agreement are for convenience only, do not constitute a part of the Agreement and shall
not be deemed to limit or affect any of the provisions hereof.

 

(n)
Independent Nature of Holders’ Obligations and Rights. The obligations of each Holder hereunder are several and not
joint with the obligations of any other Holder hereunder, and no Holder shall be responsible in any way for the performance of
the obligations of any other Holder hereunder. Nothing contained herein or in any other agreement or document delivered at any
closing, and no action taken by any Holder pursuant hereto or thereto, shall be deemed to constitute the Holders as a partnership,
an association, a joint venture or any other kind of group or entity, or create a presumption that the Holders are in any way
acting in concert or as a group or entity with respect to such obligations or the transactions contemplated by this Agreement
or any other matters, and the Company acknowledges that the Holders are not acting in concert or as a group, and the Company shall
not assert any such claim, with respect to such obligations or transactions. Each Holder shall be entitled to protect and enforce
its rights, including without limitation the rights arising out of this Agreement, and it shall not be necessary for any other
Holder to be joined as an additional party in any proceeding for such purpose. The use of a single agreement with respect to the
obligations of the Company contained was solely in the control of the Company, not the action or decision of any Holder, and was
done solely for the convenience of the Company and not because it was required or requested to do so by any Holder. It is expressly
understood and agreed that each provision contained in this Agreement is between the Company and a Holder, solely, and not between
the Company and the Holders collectively and not between and among Holders.

 

********************

 

(Signature
Pages Follow)

 

    	13

    	 

    

 

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

 

	 	xtant
    medical holdings, inc.
	 	 
	 	By:	/s/
    Sean E. Browne
	 	 	Name:
    Sean E. Browne
	 	 	Title:
    President and Chief Executive Officer

 

[SIGNATURE
PAGE OF HOLDERS FOLLOWS]

 

    	14Exhibit
10.1

 

RESIGNATION
AND RELEASE AGREEMENT

 

	To:	Juan
Manuel Pineiro Dagnery (also, “You”, “you”, “Your”, “your”, or “Employee”)
	From:	LifeMD, Inc.
	Date:	April
    2, 2021

 

RE:
CONFIDENTIAL RESIGNATION AGREEMENT AND GENERAL RELEASE

(the
“Agreement” or “this Agreement”)

 

Consistent
with your February 26, 2021 Resignation Letter, this letter confirms that your employment with LifeMD, Inc. and/or one of its
direct or indirect subsidiaries (collectively, the “Company”) will terminate effective today, April 2, 2021 (the “Termination
Date”), regardless of whether you execute this Agreement (or the date of your execution of this Agreement). As of the close
of business on April 2, 2021, and subject to any surviving provisions therein, your April 1, 2019 Employment Agreement, and any
amendment or modification thereto, is terminated.

 

This
letter also confirms your final pay and benefits as well as the separation benefits you will receive if you sign and return the
original of this Agreement to the Company (as instructed below) in the time frames noted below and abide by all other terms of
this Agreement. All payments made to you under this Agreement are subject to applicable withholdings, taxes and deductions; and
all cash payments will be paid through the Company’s payroll system in the ordinary course.

 

1. Final
Pay and Benefits. Regardless of whether you sign and return this Agreement, you will receive the final pay and benefits set
forth in this Section 1 as follows:

 

	 	●	Final
    Pay. You will be paid your regular base salary through and including the Termination Date, subject to applicable taxes
    and withholding.	 
	 	●	Reimbursement
    of Expenses. Provided that you apply for reimbursement in accordance with the Company’s established reimbursement
    procedures (within the period required by such procedures but under no circumstances later than ninety (30) days after the
    Termination Date), the Company will pay you any reimbursements to which you are entitled under such procedures.	 
	 	●	Benefits.
    Your medical and dental insurance benefits (to the extent applicable under each policy) will be continued through the last
    day of the month in which the Termination Date occurred. You may have the option, at your own expense, to continue these benefits
    under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”) for up to 18 months, or for such other
    period as provided by law, provided that you timely apply for COBRA and timely pay the required premiums for COBRA continuation
    coverage. Your COBRA period will begin on the first day of the first month following the month in which the Termination Date
    occurs. You will receive COBRA information following the Termination Date, which will include information regarding the date
    by which you must enroll and the premiums you would be required to pay if you want COBRA coverage. All other benefits end
    on the Termination Date.	 

 

2. Separation
Package. In addition to the final pay and benefits addressed in Section 1 above, as consideration for the release provided
in this Agreement, the Company will provide you with equity severance set forth in this Section 2 (the “Separation Package”)
to which you would not otherwise be entitled, provided that you:

 

 (i) continue to meet the duties and responsibilities of your position through the Termination Date;

(ii)
sign and return the original of this Agreement to Mr. Eric H. Yecies, General Counsel and Chief Compliance Officer, LifeMD, Inc.,
800 Third Avenue, Suite 2800, New York, New York 10022, with a copy by email to eric@lifemd.com and legal@lifemd.com,
no earlier than the Termination Date and no later than 21 days following your receipt of this Agreement;

(iii) continue
to work with officers, senior level executives, and other employees of the Company— including but not limited to Marc Benathen,
Eric Yecies, Maria Stan, and Cynthia Davidson—in a cooperative and productive manner to continue to assist with transitioning
of Company work in areas, including but not limited to finance, legal, and human resources; and

 (iv) abide by all other terms of this Agreement.

 

    	1

    	 

    

 

The
timing under this Section 2 is subject to Internal Revenue Code Section 409A, as described in Section 21 below:

 

	 	●	Severance:
    Upon satisfaction of (i) – (iv) above (as determined and confirmed by Mr. Benathen), and 60 days after the date of your
    execution of this Agreement, the Company will provide you with an equity Severance in a single lump sum of 10,000 shares of
    Common Stock.
	 	●	Options:
    The time-based option to purchase 166,667 (33,333.4 shares post 5-for-1 reverse stock split) of common stock of LifeMD at
    an exercise price of $0.23 ($1.15 post 5-for-1 reverse stock split) held by you on the Termination Date that are scheduled
    to vest on April 1, 2021will be deemed vested and not subject to forfeiture as of the Termination Date. You acknowledge and
    agree that any and all other options held by you on the Termination Date-including but not limited to the unvested time-based
    option to purchase 166,666 (33,333.2 shares post 5-for-1 reverse stock split) of common stock of LifeMD at an exercise price
    of $0.23 ($1.15 post 5-for-1 reverse stock split) set to vest on April 1, 2022—will be forfeited on the Termination
    Date, and, with the exception of the Severance, you are not entitled to, and are not receiving, any additional equity awards
    or cash equivalents on or after the date of this Agreement

 

3.
General Release of Claims. By signing this Agreement, you agree that the Severance, and other benefits set forth in this
Agreement constitute adequate consideration for your release and waiver of claims as set forth below. For valuable consideration
you receive from the Company pursuant to this Agreement, you, on behalf of yourself and your heirs, executors, administrators,
trustees, representatives, successors and assigns (collectively, the “Releasors”) hereby
release, waive and forever discharge all claims, demands, causes of actions, administrative claims, obligations, liabilities,
claims for punitive or liquidated damages or penalties, any other damages, any claims for costs, disbursements or attorney’s
fees, any individual or class action claims, and any other claims or demands of any nature whatsoever, whether asserted or unasserted,
known or unknown, absolute or contingent that you or any of the other Releasors have or may have against the Company, any parent,
subsidiary, division, affiliated or related entities, its and their present and former officers, directors, shareholders, trustees,
employees, agents, attorneys, insurers, representatives and consultants, and the current and former trustees and administrators
of any pension or other benefit plan applicable to the employees or former employees of any of them, and the successors, predecessors
and assigns of each (collectively “Releasees”), arising out of, or in any manner based upon, or related to, any act,
occurrence, transaction, omission or communication that transpired or occurred at any time on or before the date of your signing
of this Agreement.

 

Without
limitation to the foregoing, you specifically release, waive and forever discharge the Releasees from and against: any and all
claims arising out of or relating to your employment by the Company (and/or by any of the other Releasees), the terms and conditions
of such employment and/or the resignation of such employment; any and all claims that arise under the U.S. Constitution, any claims
under any Puerto Rican, New York State, or other state or local anti-discrimination,
employment or human rights laws or regulations, any claims under Title VII of the Civil Rights Act of 1964, 42 U.S.C. § 2000e
et seq., the Americans with Disabilities Act, 42 U.S.C. § 12101 et seq., the Employee Retirement Income Security
Act of 1974, 29 U.S.C. § 1001 et seq., the Equal Pay Act, the federal Family and Medical Leave Act, 29 U.S.C. §
2601 et seq., the National Labor Relations Act, 29 U.S.C. § 151 et seq., the Genetic Information Nondiscrimination
Act, 42 U.S.C. § 2000ff et seq., the Sarbanes-Oxley Act, 15 U.S.C. § 7201 et seq., the Fair Labor Standards
Act of 1938, 29 U.S.C. § 201 et seq., and any amendments to any of the above; any and all claims arising under any
other local, state or federal constitution, statute, ordinance, regulation or order, or that involve claims for discrimination
or harassment based on age, race, religion, creed, color, national origin, citizenship, ancestry, affectional or sexual orientation,
sexual preference, gender identity or expression, military or veterans status, sex, disability, marital status, parental status,
pregnancy, genetic information, or any other legally protected category or characteristic; any and all claims for wages, salary,
commissions, bonuses, equity, incentives, insurance, paid and unpaid leave, expense reimbursement, or other compensation; any
and all claims for retaliation, reprisal, wrongful discharge, breach of contract (express or implied); any and all whistleblower
claims under any federal, state or local law or regulation or under common law; any violation of express or implied employment
agreements, covenants, promises or duties, intellectual property or proprietary rights, and/or any other tortious conduct,
such as assault or battery, background check violations, defamation, detrimental reliance, fiduciary breach, fraud,
indemnification, intentional or negligent infliction of emotional distress, interference with contractual or other legal
rights, invasion of privacy, loss of consortium, misrepresentation, negligence (including negligent hiring, retention, or supervision),
personal injury, promissory estoppel, public policy violation, retaliatory discharge, safety violations; posting or records-related
violations or other federal, state or local statutory or common law cause of action, including, without limitation, any claims
for compensatory, emotional or distress damages, punitive or liquidated damages, attorneys’ fees, costs, interest, penalties
or disbursements.

 

    	2

    	 

    

 

4. Release
of Unknown Claims. You understand that this release extends to all of the aforementioned claims and potential claims, whether
now known or unknown, suspected or unsuspected.

 

5. Excluded
Claims. You are not, by signing this Agreement, releasing or waiving (i) any vested interest you may have in any
stock grants, stock options or other forms of equity awards, 401(k) or other retirement plan by virtue of your employment
with the Company, subject to the terms and conditions of the applicable plans, any grant or award agreement and applicable law,
(ii) any rights or claims that may arise after this Agreement is signed by you, (iii) the right to institute legal action for
the purpose of enforcing the provisions of this Agreement, (iv) any right you may have to apply for any state unemployment insurance
benefits, (v) any workers compensation benefits to which you may be entitled under applicable law, (vi) any rights to indemnification
under any agreement with the Company, any certificate of incorporation or by laws (or comparable organizational document) of the
Company or any applicable insurance policy of the Company with respect to acts or omissions by you occurring or alleged to have
occurred during the course of your employment by the Company (and/or by any of the other Releasee entities), subject to the applicable
definitions, terms and conditions of any such agreement, certificate of incorporation, by laws (or comparable organizational document),
insurance policy and applicable law, or (vii) any rights for continuation coverage under COBRA. Additionally, nothing in this
Agreement waives or otherwise limits your right to: file a charge or complaint with the U.S. Equal Employment Opportunity Commission
(“EEOC”) (and/or with any other government agency), or testify, assist or participate in any investigation, hearing
or proceeding conducted by the EEOC (and/or by any other government agency). However, neither the immediately preceding sentence
nor any other provision in this Agreement constitute a waiver of any kind by any of the Releasees of their right to assert the
Release set forth in this Agreement as a defense to any charge or complaint filed with the EEOC, any other government agency,
any court, and/or any other tribunal. Additionally, you hereby waive any right to, and agree that you will not accept, any monetary
award or recovery resulting from a filing of a charge or complaint by or with the EEOC, any other government agency, any court,
and/or any other tribunal against the Company (and/or against any of the other Releasees) asserting or alleging any claim, demand,
or cause of action that has been released or waived in this Agreement. In addition, for the avoidance of doubt, nothing in this
Agreement shall be interpreted to limit your right to receive an award to which you may be
entitled for information provided to the U.S. Securities and Exchange Commission (“SEC”), the U.S. Commodity
Futures Trading Commission (“CFTC”), or equivalent state securities enforcement agencies.

 

6. Promise
Not To Sue. A “promise not to sue” means you promise not to sue any Releasee in court. This is different from
the General Release above. Besides releasing claims covered by that General Release, you agree never to sue any Releasee for any
reason covered by that General Release. If you sue a Releasee in violation of this Agreement: (i) you shall be required to pay
that Releasee’s reasonable attorney fees and other litigation costs incurred in defending against your suit; or alternatively
(ii) the Company can require you to return all but $100.00 of the money and benefits provided to you under this Agreement. In
that event, the Company shall be excused from any remaining obligations that exist solely because of this Agreement.

 

7. Whistleblowing.
You agree that (i) no one has interfered with your ability to report within the Company possible violations of any law, and (ii)
it is the Company’s policy to encourage such reporting.

 

8. Cooperation
on Transition of Business. You agree that you will provide to the Company on or before your last date of employment, and at
any time within 6 months thereafter, upon the Company’s reasonable request on or following the Termination Date, a list
and status of current work projects and other information deemed necessary by the Company to ensure an orderly transition of such
projects. You further agree to provide a list of any current action items with key customers and/or vendors or external communication
follow up with customers or vendors that need to occur to ensure continuation of business. You also agree to reasonably cooperate
with the Company in the transition of work responsibilities for at least 6 months, and thereafter based upon reasonable requests.

 

    	3

    	 

    

 

9. Return
of Property. You acknowledge by your signature to this Agreement that as of the date you sign this Agreement you have returned
to the Company all property of the Company, or any related entity, including laptops, smartphones, cell phones, tablets, external
storage devices, any other electronic devices and equipment, or any other property issued to you during the course of employment
and all documents, files, correspondence, emails and other electronic communications, reports, materials, legal documents, contracts,
marketing materials, and other items, whether in hard copy, on DVD, disc, flash drive, in the cloud, or other storage mechanism,
or on any electronic device, or otherwise, including all copies, which belong to the
Company or any related entity or are related to the business of, or the services you performed for, the Company or any related
entity, for any customer, including but not limited to any property, documents, files, correspondence, emails, texts, chats, and
other electronic communications, reports, materials, financial information, legal documents, contracts, marketing materials, and
other items containing trade secret, proprietary or confidential information and materials.

 

10. Confidentiality
of Agreement. This Agreement, its terms, conditions, and existence are strictly confidential, and you agree that you will
not divulge or disclose this Agreement, its terms or existence in any way to any person, other than to your spouse, children,
legal or tax advisor, the state unemployment compensation authorities, the taxing authorities, or any Releasees, except as required
by law. Should you choose to divulge or disclose the terms, conditions and/or existence of this Agreement to any person permitted
to receive the information, other than governmental agencies, you must ensure that the person will be similarly bound to keep
the terms, conditions, and existence of this Agreement confidential.

 

11. Non-Disparagement.
You agree that you will not make any disparaging or negative remarks, whether oral or in writing, regarding
the Company, or its respective officers, directors, employees, or affiliates, or their respective operations, products,
and/or services. Neither this Section nor any other provision of this Agreement affects or restricts your obligation to provide
good faith truthful information in connection with an application for state unemployment compensation benefits, or to provide
any other good faith truthful information required in response to a government inquiry, in response to a valid subpoena or court
order, in an action to enforce the terms of this Agreement, or as otherwise specifically required by law. In addition, neither
this Section nor any other provision of this Agreement affects or restricts your obligation to provide good faith truthful information
in connection with the filing of a claim or charge with, or an investigation, hearing or proceeding conducted by, a governmental
agency, including the SEC, the EEOC, or similar state agencies. You acknowledge and agree however (as indicated above in the General
Release of Claims section of this Agreement) that you will not be entitled to recover any award of money, compensation, costs,
attorney’s fees, or damages whatsoever from the Company or any of the other Releasees in connection with any charge of discrimination
or other claim that has been released and/or waived under Section 3 of this Agreement or if you have such a charge or claim filed
on your behalf, and you agree that the Separation Package that you receive or for which you are eligible under this Agreement
fully and completely compensates you for any and all claims you may have against the Company or any of the related entities and
individuals released in the General Release of Claims section of this Agreement.

 

12. Non-Admission.
Neither the Company’s offer reflected in this Agreement nor any payment under this Agreement are an admission that you have
a viable claim against the Company or any other Releasee. Each Releasee denies all liability.

 

13. Return
of Separation Package. You will not receive the Separation Package described in this Agreement, and you will be required to
return any such payments or benefits included in the Separation Package made to you or on your behalf if you (i) do not meet the
duties and responsibilities of your position through the Termination Date, (ii) do not sign this Agreement and return the original
of this Agreement in the time period specified in this Agreement, (iii) violate any of the terms and conditions set forth in this
Agreement, including but not limited to the confidentiality requirements set forth above in this Agreement, or (iv) if you intentionally
and materially breach any obligations, covenants, restrictions or agreements of confidentiality, non-solicitation, non-competition
under an agreement between you and the Company signed by you on April 1, 2019 (the “Employment Agreement”) and fail
to cure such breach (if curable) within thirty (30) days. The remedies provided for in this Section 13 are in addition to any
other remedies that may be available to the Company under law or equity.

 

    	4

    	 

    

 

14. Binding
Effect. This Agreement is final and binding upon and inures to the benefit of the parties and their respective successors
and legal representatives and permitted assigns, and together with the applicable provisions of the Employment Agreement (defined
above) constitutes the complete and exclusive statement of the terms and conditions of your resignation of employment with the
Company. You further acknowledge that you have not relied on any representations or statements, whether oral or written, other
than the express statements of this Agreement (and the applicable provisions of the Employment Agreement), in signing this Agreement.
With the exception of the Employment Agreement, this Agreement supersedes and merges all prior negotiations, agreements and understandings
between the Company and you, if any. No modification, release, discharge, or waiver, of any provision of this Agreement shall
be of any force or effect unless made in writing and signed by the Company and you, and specifically identified as an amendment,
modification, release, or discharge of this Agreement. If any term, clause, or provision of this Agreement is determined for any
reason by a court of competent jurisdiction to be invalid, unenforceable, or void, the determination shall not impair or invalidate
any of the other provisions of this Agreement, all of which shall be performed in accordance with their respective terms. However,
if any of the waivers and releases set forth in Section 3 of this Agreement are held to be invalid, void, and/or unenforceable
by a court then: the remaining waivers and releases shall remain fully valid and enforceable and, upon request by the Company,
you shall immediately duly execute and deliver to the Company a release and waiver that is legal and enforceable to the fullest
extent of the law.

 

15. Consideration
Period. By your signature to this Agreement, you acknowledge and agree that you have been given a period of at least twenty-one
(21) calendar days following the date this Agreement was provided to you (the “Consideration Period”) to consider
this Agreement prior to signing it and that you have not signed it prior to the Termination Date. If you have signed it prior
to the expiration of the twenty-one (21) day period, you are acknowledging that you have done so knowingly and voluntarily and
have waived the remainder of the Consideration Period. By your signature you also acknowledge and agree that the Company has advised
you to consult with an attorney of your choice at your expense prior to signing this Agreement and you have done so, or chosen
not to do so, of your own accord. You further agree that any modifications made to this Agreement, material or otherwise, do not
restart or affect in any manner the Consideration Period of at least twenty-one (21) calendar days.

 

16. Post-Termination
Confidentiality. By signing this Agreement, you acknowledge and agree that the post-termination obligations and provisions
of this Agreement and the Employment Agreement will continue in full force and effect according to the applicable terms of this
Agreement and the Employment Agreement following your resignation. By signing this Agreement, you represent that you have complied
with all obligations, terms, and provisions of this Agreement and the Employment Agreement and will continue to comply with the
obligations that survive resignation of your employment.

 

17. Governing
Law; Jurisdiction. This Agreement will be governed by and construed in accordance with the laws of the State of New York without
regard to principles of conflicts of laws. As to any dispute concerning or arising out of this Agreement, each of the Company
and you hereby expressly consent to personal jurisdiction in the State of New York, hereby submit to the exclusive jurisdiction
of the state and federal courts located in the State of New York, County of New York, and further agree not to assert that any
action brought in such jurisdiction has been brought in an inconvenient forum or that such venue is improper. To the extent permitted
by law, any and all claims asserted in such an action shall be adjudicated by a judge sitting without a jury.

 

18. Dispute
Resolution. In the event of any dispute arising under or pursuant to this Agreement, the Parties agree to attempt to resolve
the dispute in a commercially reasonable fashion before instituting any litigation or arbitration (with the exception of emergency
injunctive relief). If the parties are unable to resolve the dispute within thirty (30) days, then the parties agree to mediate
the dispute with a mutually agreed upon mediator in New York, NY. If the parties cannot agree upon a mediator within ten (10)
days after either party shall first request commencement of mediation, each party will select a mediator within five (5) days
thereof, and those mediators shall select the mediator to be used. The mediation shall be scheduled within thirty (30) days following
the selection of the mediator. The parties further agree that any applicable statute of limitations will be tolled for the period
of time from the date mediation is requested until 14 days following the mediation. If the mediation does not resolve the dispute,
then the parties irrevocably and unconditionally agree to the arbitration provisions in Section 20.

 

    	5

    	 

    

 

19. Arbitration.
You and the Company (together, the “Parties”) agree that any and all disputes, claims, or causes of action, in
law or equity, including but not limited to statutory claims, arising from or relating to the enforcement, breach,
performance, or interpretation of this Agreement, your employment with the Company, or the resignation of your employment,
shall be resolved pursuant to the Federal Arbitration Act, 9 U.S.C. § 1-16, to the fullest extent permitted by law, by
final, binding and confidential arbitration conducted by JAMS or its successor, under JAMS’ then applicable rules and
procedures for employment disputes (available upon request and also currently available at https://www.jamsadr.com/rules-employment-arbitration/).
The arbitration will take place in New York, NY unless otherwise agreed to by the Parties. You acknowledge that by agreeing
to this arbitration procedure, both you and the Company waive the right to resolve any such dispute through a trial by jury
or judge or administrative proceeding. In addition, all claims, disputes, or causes of action under this section, whether by
you or the Company, must be brought in an individual capacity, and shall not be brought as a plaintiff (or claimant) or class
member in any purported class or representative proceeding, nor joined or consolidated with the claims of any other person or
entity. The arbitrator may not consolidate the claims of more than one person or entity, and may not preside over any form of
representative or class proceeding. To the extent that the preceding sentences regarding class claims or proceedings are
found to violate applicable law or are otherwise found unenforceable, any claim(s) alleged or brought on behalf of a class
shall proceed in a court of law rather than by arbitration. This paragraph shall not apply to any action or claim that cannot
be subject to mandatory arbitration as a matter of law, including, without limitation, claims brought pursuant to the
California Private Attorneys General Act of 2004, as amended, the California Fair Employment and Housing Act, as amended, and
the California Labor Code, as amended, to the extent such claims are not permitted by applicable law(s) to be submitted to
mandatory arbitration and the applicable law(s) are not preempted by the Federal Arbitration Act or otherwise invalid
(collectively, the “Excluded Claims”). In the event you intend to bring multiple claims, including one of the
Excluded Claims listed above, the Excluded Claims may be filed with a court, while any other claims will remain subject to
mandatory arbitration. You will have the right to be represented by legal counsel at any arbitration proceeding. The
arbitrator shall: (a) have the authority to compel adequate discovery for the resolution of the dispute and to award such
relief as would otherwise be permitted by law; and (b) issue a written statement signed by the arbitrator regarding the
disposition of each claim and the relief, if any, awarded as to each claim, the reasons for the award, and the
arbitrator’s essential findings and conclusions on which the award is based. The arbitrator shall be authorized to
award all relief that Employee or the Company would be entitled to seek in a court of law. The Company shall pay all JAMS
arbitration fees in excess of the administrative fees that you would be required to pay if the dispute were decided in a
court of law. Nothing in this Agreement is intended to prevent either you or the Company from obtaining injunctive relief in
court to prevent irreparable harm pending the conclusion of any such arbitration.

 

20. Tax
Consequences. Notwithstanding any action the Company takes under Sections 1 or 2 with respect to any or all federal, state
or local income tax, payroll tax, or other tax-related withholding with respect to payments under this Agreement, the ultimate
liability for all taxes with respect to such payments is and remains your responsibility and the Company (i) makes no representation
or undertakings regarding the treatment of any tax-related items in connection with this Agreement, and (ii) does not commit to
structure the payments to reduce or eliminate your liability for any taxes with respect to the payments.

 

21. Section
409A. This Agreement, and any payment hereunder, is intended to be exempt from Section 409A of the Internal Revenue Code (“Section
409A”) under the short-term deferral and separation pay plan exemptions to the maximum extent permitted by Section 409A.
However, to the extent that this Agreement or any payment hereunder is subject to Section 409A,
the Agreement will be construed and interpreted in a manner that is consistent with the requirements of Section 409A. For
these purposes, each “payment” (as defined by Section 409A) made under this Agreement shall be considered a “separate
payment.” Notwithstanding the foregoing, the Company makes no representations that the payments and benefits provided under
this Agreement comply with Section 409A and in no event will the Company, its divisions and affiliates nor their respective directors,
officers, employees or advisers be liable for all or any portion of any taxes, penalties, interest or other expenses that may
be incurred by you on account of non-compliance with Section 409A.

 

If
this Agreement (or any portion thereof) is subject to Section 409A and any amount subject to Section 409A becomes payable as a
result of your “separation from service” (as defined under Section 409A) and at such time you are a “specified
employee” (as defined under Section 409A), payment of such amount shall be delayed and shall be paid (without interest)
on the first day of the seventh calendar month following the date of your “separation from service.” Further, in the
event that the period of time given to consider a release agreement spans two years, to the extent a payment is subject to the
execution of the release and to Section 409A, the payment may not be made earlier than January 1 of the second year.

 

    	6

    	 

    

 

22. Resignations.
Effective as of the Termination Date, you will be deemed to have resigned from any and all of your director positions and
officer positions (e.g., Chief Financial Officer and Chief Revenue Officer) with the Company and any and all of its affiliates
and divisions. However, upon the request of the Company, you agree to sign and return to the Company any formal resignations of
LifeMD affiliates provided by the Company.

 

23. Severability.
If any one or more of the provisions of this Agreement is held 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
valid, legal and enforceable provision that comes closest to the intent of the parties.

 

Your
signature on the next page indicates that you have carefully read, understand, and agree to all terms and provisions of this Agreement
in its entirety. Your signature further indicates that you have had a sufficient and reasonable amount of time prior to signing
this Agreement to ask questions regarding this Agreement, that you have been advised to seek legal advice, and that you have signed
this Agreement as a free and voluntary act.

 

If
you wish to receive the Separation Package set forth above in this Agreement, you must sign and return the original of this Agreement
to the Company by hand or by mail (or overnight courier) (as set forth in Section 2 above) no earlier than the Termination Date
and no later than the 21st day following your receipt of this Agreement. You must also abide by all other terms of
this Agreement. You should keep a copy for your records.

 

Sincerely,

LIFEMD,
INC.

 

	By:	/s/
    Eric H. Yecies 	 
	 	Eric
    H. Yecies, General Counsel and Chief Compliance Officer	 

 

[Balance
of page intentionally left blank. Your signature page to follow.]

 

    	7

    	 

    

 

ACCEPTANCE
AND AGREEMENT TO

CONFIDENTIAL
RESIGNATION AGREEMENT AND GENERAL RELEASE

 

By
signing below, I, Juan Manuel Pineiro Dagnery, acknowledge and agree to the following:

 

	 	●	I
    have not suffered any on-the-job injury for which I have not already filed a claim, and the end of my employment is not related
    to any such injury.
	 	●	I
    do not have any pending lawsuits against the Company.
	 	●	I
    have had adequate time to consider whether to sign this Confidential Resignation Agreement and General Release.
	 	●	I
    have read this Confidential Resignation Agreement and General Release carefully.
	 	●	I
    understand, accept and agree to all of the terms of this Confidential Resignation Agreement and General Release.
	 	●	I
    am knowingly and voluntarily releasing my claims as set forth in this Confidential Resignation Agreement and General Release.
	 	●	I
    have not, in signing this Confidential Resignation Agreement and General Release, relied upon any representations or statements,
    written or oral, or explanations made by the Company except for those specifically set forth in this Confidential Resignation
    Agreement and General Release and the Employment Agreement.
	 	●	I
    intend this Confidential Resignation Agreement and General Release to be legally binding.
	 	●	I
    have kept a full copy of this Confidential Resignation Agreement and General Release for my records.

 

I
am signing this Confidential Resignation Agreement and General Release no earlier than the Termination Date as defined above.

 

	Date:	 	 	 
	 	 	 	/s/
    Juan Manuel Pineiro Dagnery 
	 	 	 	Juan
    Manuel Pineiro Dagnery

 

    	8

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