Document:

Exhibit

AMENDMENT TO
THE VALERITAS HOLDINGS, INC.
2016 INCENTIVE COMPENSATION PLAN

This Amendment (this “Amendment”) to the Valeritas Holdings, Inc. 2016 Incentive Compensation Plan (the “Plan”), is effective (the “Effective Date”) as of the effectiveness of that certain registration statement (SEC No. 333-215897) of Valeritas Holdings, Inc. (the “Company”).

WHEREAS, the Company maintains the Plan;

WHEREAS, under Section VI.A of Article Five of the Plan, the Board of Directors of the Company may amend the Plan, provided that no such amendment shall adversely affect the rights and obligations with respect to awards at the time outstanding under the Plan without the consent of the participant; and

WHEREAS, the Company wishes to increase the number of shares of the Company’s common stock that may be issued under the Plan and wishes to amend the definition of “Fair Market Value” under the Plan.

NOW, THEREFORE, effective as of the Effective Date, the Plan is hereby amended as follows:

1. Section V.A of Article One of the Plan shall be deleted in its entirety and replaced with the following: 

		
	A. 
	The stock issuable under the Plan shall be shares of authorized but unissued or reacquired Common Stock, including treasury shares and shares repurchased by the Corporation on the open market. Subject to adjustment as provided in Section V.G, effective as of the effectiveness of that certain registration statement (SEC No. 333-215897) (the “Registration Statement”), the number of shares of Common Stock available for issuance under the Plan shall be equal to (i) the initial share reserve under the Plan of 375,000 shares (as adjusted to reflect a reverse stock split of the Common Stock, effective as of March 15, 2017), plus (ii) 65,583 shares (as adjusted to reflect a reverse stock split of the Common Stock, effective as of March 15, 2017) added to the share reserve in January 2017 pursuant to the evergreen provision under Section V.B (plus the number of shares of Common Stock added each year under such evergreen provision under Section V.B), plus (iii) an additional number of shares of Common Stock such that the aggregate shares reserved under the Plan is equal to 18% of the shares of Common Stock outstanding as measured as of the effectiveness of the Registration Statement, taking into account for this purpose conversion of shares of preferred stock into shares Common Stock and including any stock options outstanding and shares reserved for issuance under the Plan (inclusive of this 18% increase), plus (iv) if the underwriters exercise their option to purchase additional shares of Common Stock within 30 days following the effectiveness of the Registration Statement (the “Option Exercise Date”), then such additional shares of Common Stock such that the aggregate shares reserved under the Plan shall be equal to 18% of the shares of Common Stock outstanding as measured as of the Option Exercise Date, taking into account for this purpose conversion of shares of preferred stock into shares of Common Stock and including any stock options outstanding and shares reserved for issuance under the Plan (inclusive of this 18% increase).

2. Section J of the Appendix to the Plan shall be deleted in its entirety and replaced with the following:

		
	J. 
	Fair Market Value per share of Common Stock on any relevant date shall be determined in accordance with the following provisions:

		
	(i)
	If the Common Stock is at the time listed on any Stock Exchange, then the Fair Market Value per share of Common Stock on any relevant date shall be the closing selling price per share of Common Stock at the close of regular trading hours (i.e., before after-hours trading begins) on the Stock Exchange determined by the Plan Administrator to be the primary market for the Common Stock, as such price is reported by the National Association of Securities Dealers (if primarily traded on the Nasdaq Global or Global Select Market) or as officially quoted in the composite tape of transactions on any other Stock Exchange on which the Corporation’s common stock is then primarily traded. If there is no closing selling price for the Common Stock on the date in question, then the Fair Market Value shall be the closing selling price on the last preceding date for which such quotation exists.

		
	(ii)
	If the Common Stock is not at the time listed on any Stock Exchange, then the Fair Market Value shall be determined by the Plan Administrator through the reasonable application of a reasonable valuation method that takes into account the applicable valuation factors set forth in the Treasury Regulations issued under Section 409A of the Code; provided, however, that with respect to an Incentive Option, such Fair Market Value shall be 

determined in accordance with the standards of Section 422 of the Code and the applicable Treasury Regulations thereunder.

3. The share numbers included in the Plan are hereby amended to reflect a reverse stock split of the Common Stock, effective as of March 15, 2017, as determined appropriate by the Company’s officers.
4. Except as modified by this Amendment, all of the terms and provisions of the Plan shall continue in full force and effect.

IN WITNESS WHEREOF, the undersigned has caused this Amendment to be executed effective as of the Effective Date.
 
	
			
	VALERITAS HOLDINGS, INC.

                                        
By: /s/ John E. Timberlake
Name: John E. Timberlake
Title: Chief Executive OfficerExhibit 10.1

 

REGISTRATION RIGHTS AGREEMENT

 

THIS REGISTRATION RIGHTS
AGREEMENT (this “Agreement”)
is made as of June 21, 2016 by and between Metropolitan Bank Holding Corp, a New York corporation and parent company of Metropolitan
Commercial Bank (the “Company”), and Endicott
Opportunity Partners IV, L.P., a Delaware limited partnership (“Investor”). For good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, the Company and Investor hereby agree as follows:

 

		1.	Registration RIGHTS

 

(a)       For
so long as the Investor and its Affiliates (as defined in the Subscription Agreement dated June 21, 2016, by and between the Investor
and the Company (the “Subscription Agreement”)), including Investor’s limited partners, beneficially own
in the aggregate more than 50% of the Registrable Securities (as defined in Section 1(d) below), then any time after the third
(3rd) anniversary of the date of this Agreement, Investor may from time-to-time request the registration (the “Demand
Registration”) under the Securities Act of 1933, as amended (the “Securities Act”) of some or all
of its Registrable Securities in one or more registration statements. The Demand Registrations shall be on such form as the Company
shall select. The Company shall use best efforts to cause a registration statement to be filed within 90 days after the date on
which each request by Investor is received by the Company and shall use its best efforts to cause such registration statement to
be declared effective by the U.S. Securities and Exchange Commission (“SEC”) as soon as practicable thereafter.
The Company shall use best efforts to keep such Demand Registrations current and effective until the Registrable Securities registered
thereby cease to be Registrable Securities (as defined in Section 1(d) below). Once the Company becomes subject to the reporting
requirements of the Securities Exchange Act of 1934, as amended, the Company will use its best efforts to file a shelf registration
statement with the SEC (the “Shelf Registration”) for as long as any of the Registrable Securities have not
yet been sold.

 

(b)       As
long as Investor holds Registrable Securities, if at any time or from time to time, the Company shall determine to register any
of its securities under the Securities Act, except for the registration of securities to be offered pursuant to an employee benefit
plan on Form S-8 or pursuant to a registration made on Form S-4 or any successor forms then in effect, and the registration form
to be used may be used for the registration of the Registrable Securities (a “Piggyback Registration”), the
Company shall:

 

(1)       give
to Investor thirty (30) calendar days written notice prior to filing the registration statement (the “Registration Rights
Notice”); and

 

(2)       include
in such registrations, and in any underwriting involved therein, all the Registrable Securities specified in a written request
made by Investor within fifteen (15) calendar days after receipt of such written notice from the Company, except as set forth in
subsection (c) below.

 

     

     

    

 

(c)       If
the registration is for a registered public offering involving an underwriting, the Company shall so advise Investor as a part
of the Registration Rights Notice. In such event, the right of Investor to registration shall be conditioned upon Investor’s
participation in such underwriting and the inclusion of all of Investor’s Registrable Securities in the underwriting to the
extent provided herein. If Investor proposes to distribute its securities through such underwriting, it shall (together with the
Company and any other holders distributing their securities through such underwriting) enter into an underwriting agreement in
the form agreed to by the Company with the underwriter(s) selected for such underwriting by the Company. If the managing underwriters
advise the Company and the Investor in writing that in their reasonable and good faith opinion the number of securities requested
to be included in a registration statement pursuant to the Investor’s first Demand Registration request pursuant to the first
sentence of Section 1(a) exceeds the number which can be sold without adversely affecting the per share offering price of the securities
or if the Investor disapproves of the terms of such underwriting or elects to withdraw therefrom by providing written notice to
the Company and the managing underwriters, then the Investor may use the Shelf Registration, or exercise a subsequent Demand Registration,
to register some or all of the Registrable Secruities. If the Investor uses the Shelf Registration to register some or all of the
Registrable Secruties or exercises any subsequent Demand Registration, then the Company will include in such Shelf Registration
all of the Registrable Securities requested to be included therein by the Investor, allocated pro rata among all such holders on
the basis of the number of Registrable Securities owned by each such holder or in such manner as they may otherwise agree.

 

(d)       For
purposes of this Agreement, “Registrable Securities” shall mean any and all shares of (i) common stock, par
value $0.01 per share, of the Company (“Common Stock”) issued or issuable pursuant to the Subscription Agreement,
(ii) Series F non-voting preferred stock, par value $0.01 per share, of the Company issued or issuable pursuant to the Subscription
Agreement (the “Non-Voting Preferred Stock”), (iii) Common Stock or other securities issued or issuable in respect
of the Non-Voting Preferred Stock issued or issuable upon exchange of Common Stock pursuant to the Subscription Agreement, (iv)
Non-Voting Preferred Stock or other securities issued or issuable in respect of the Common Stock issued or issuable upon exchange
of Non-Voting Preferred Stock pursuant to the Subscription Agreement, (v) Common Stock issued or issuable upon conversion of the
Non-Voting Preferred Stock in accordance with the Company’s Certificate of Incorporation, as amended, supplemented and/or
restated, (vi) capital stock issued in respect of the Common Stock or the Non-Voting Preferred Stock in any recapitalization,
reorganization, exchange, merger, consolidation or similar event of the Company, and (vii) capital stock issued in respect
of the stock referred to in clause (i), (ii), (iii), (iv), (v), or (vi) above as a result of a stock split, stock dividend, recapitalization
or combination.

 

		2.	Expenses of Registration

 

All expenses incurred in
connection with the registrations pursuant to Section 1 hereof, including all registration, filing and qualification fees,
printing expenses, fees and disbursements of counsel for the Company (the “Registration Expenses”)and expenses
of any special audits of the Company’s financial statements incidental to or required by such registration, shall be borne
by the Company, except that the Company shall not be required to pay underwriters’ fees, discounts or commissions relating
to Registrable Securities; provided, however, Investor shall be responsible for the Registration Expenses for the second
and any subsequent Demand Registration (as opposed to Shelf Registrations and Piggyback Registrations) requested by the Investor.

 

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		3.	Registration Procedures

 

In the case of each registration
affected by the Company pursuant to this Agreement, the Company will keep Investor advised in writing as to the initiation of each
registration and as to the completion thereof. At its expense the Company will:

 

(a)       keep
such registration pursuant to this Agreement continuously effective until all of such Registrable Securities have been disposed
of and to comply with the provisions of the Securities Act of 1933, as amended (“Securities Act”), with respect
to the disposition of such Registrable Securities in accordance with the intended methods of disposition set forth in such registration
statement;

 

(b)       promptly
prepare and file with the SEC such amendments and supplements to such registration statement and the prospectus used in connection
therewith as may be necessary to comply with the provisions of the Securities Act, and to keep such registration statement effective
for that period of time specified in Section 3(a) above;

 

(c)       at
least five (5) business days before filing such registration statement, prospectus or amendments or supplements thereto with the
SEC, furnish to counsel selected by Investor copies of such documents proposed to be filed, which documents shall be subject to
the review and comment of such counsel;

 

(d)       notify
Investor, promptly after the Company receives notice thereof, of the time when such registration statement has been declared effective
or a supplement to any prospectus forming a part of such registration statement has been filed with the SEC;

 

(e)       advise
the holders of Registrable Securities, promptly after it shall receive notice or obtain knowledge thereof, of the issuance of any
stop order by the SEC suspending the effectiveness of such Registration Statement or the initiation or threatening of any proceeding
for such purpose and promptly use best efforts to obtain the withdrawal of any order suspending the effectiveness of a registration
statement, or the lifting of any suspension of the qualification of any of the Registrable Securities for sale in any jurisdiction,
at the earliest possible moment;

 

(f)       cause
all Registrable Securities covered by such registration to be listed on each securities exchange on which similar securities issued
by the Company are then listed or, if such securities are not then listed, on a national securities exchange selected by the Investor;

 

(g)       make
available for inspection by any selling holder of Registrable Securities, any underwriter participating in any disposition pursuant
to such registration statement and any attorney, accountant or other agent retained by any such holder or underwriter (collectively,
the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company
(collectively, the “Records”), and cause the Company’s officers, directors and employees to supply all
information reasonably requested by any such Inspector in connection with such Registration Statement;

 

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(h)       provide
a transfer agent and registrar (which may be the same entity) for all such Registrable Securities not later than the effective
date of such registration;

 

(i)       otherwise
use its best efforts to comply with all applicable rules and regulations of the SEC and make available to its stockholders an earnings
statement (in a form that satisfies the provisions of Section 11(a) of the Securities Act and Rule 158 under the Securities Act
or any successor rule thereto) no later than thirty (30) days after the end of the 12-month period beginning with the first day
of the Company's first full fiscal quarter after the effective date of such Registration Statement, which earnings statement shall
cover said 12-month period, and which requirement will be deemed to be satisfied if the Company timely files complete and accurate
information on Forms 10-K, 10-Q and 8-K under the Securities Exchange Act of 1934, as amended (“Exchange Act”),
and otherwise complies with Rule 158 under the Securities Act or any successor rule thereto; and

 

(j)       use
its best efforts to cause such Registrable Securities to be registered with or approved by such other governmental agencies or
authorities as may be necessary by virtue of the business and operations of the Company to enable the holders of such Registrable
Securities to consummate the disposition of such Registrable Securities in accordance with their intended method of distribution
thereof;

 

(k)       notify
the holders of Registrable Securities promptly of any request by the Commission for the amending or supplementing of such registration
statement or prospectus or for additional information; and

 

(l)       permit
any holder of Registrable Securities which holder, in its sole and exclusive judgment, might be deemed to be an underwriter or
a “controlling person” (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act)
(a “Controlling Person”) of the Company, to participate in the preparation of such Registration Statement and
to reasonably require the insertion therein of language.

 

		4.	Indemnification

 

(a)       In
the event of a registration of any of the Registrable Securities under the Securities Act pursuant to this Agreement, the Company
will (i) indemnify and hold harmless, to the fullest extent permitted by law, Investor, each underwriter of such Registrable Securities
thereunder, and any other person acting on behalf of Investor and each other person, if any, who controls such foregoing persons
within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which any of
the foregoing persons may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities
(or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material
fact contained in any registration statement under which such Registrable Securities were registered under the Securities Act,
any preliminary prospectus, free writing prospectus, or final prospectus contained therein, or any amendment or supplement thereof,
or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein
or necessary to make the statements therein not misleading, or any violation by the Company of any rule or regulation promulgated
under the Securities Act or any state securities law applicable to the Company and relating to action or inaction required of the
Company in connection with any such registration, and (ii) will reimburse such persons, each of their officers, directors and partners,
and each person controlling such persons, for any legal and any other expenses incurred in connection with investigating, defending
or settling any such claim, loss, damage, liability or action. Notwithstanding the foregoing, the Company will not be liable in
any such case to the extent that any such claim, loss, damage or liability arises out of or is based on any untrue statement or
omission based upon written information furnished to the Company in an instrument duly executed by Investor or an underwriter,
as applicable, specifically for use therein. This indemnity shall be in addition to any liability the Company may otherwise have.

 

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(b)       Investor
will, if Registrable Securities held by or issuable to Investor are included in the securities for which such registration is being
effected, (i) indemnify and hold harmless, to the fullest extent permitted by law, the Company, each of its directors and officers,
each underwriter, if any, of the Company’s securities covered by such registration statement, each person who controls the
Company and each underwriter within the meaning of the Securities Act, against all claims, losses, expenses, damages and liabilities
(or actions in respect thereof) arising out of or based on any untrue statement (or alleged untrue statement) of a material fact
contained in any such registration statement, prospectus, offering circular or other document, or any omission (or alleged omission)
to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading (in the
case of a prospectus, in light of the circumstances under with they were made) and (ii) will reimburse the Company, such directors,
officers, partners, persons or underwriters for any reasonable legal and any other expenses incurred in connection with investigating,
defending or settling any such claim, loss, damage, liability or action, in each case to the extent, but only to the extent, that
such untrue statement (or alleged untrue statement) or omission (or alleged omission) is made in such registration statement, prospectus,
offering circular or other document in reliance upon and in conformity with written information furnished to the Company in an
instrument duly executed by Investor specifically for use therein. Notwithstanding the foregoing, the total amount for which Investor,
its officers, directors and partners, and any person controlling Investor, shall be liable under this Section 4(b) shall not in
any event exceed the aggregate proceeds (after deducting underwriting fees, commissions, and discounts) received by Investor from
the sale of its Registrable Securities in such registration. This indemnity shall be in addition to any liability the Investor
may otherwise have.

 

(c)       Each
party entitled to indemnification under this Section 4 (the “Indemnified Party”) shall give notice to the
party required to provide indemnification (the “Indemnifying Party”) promptly after such Indemnified Party has
actual knowledge of any claims as to which indemnity may be sought, and shall permit the Indemnifying Party to assume the defense
of any such claim or any litigation resulting therefrom; provided, however, that counsel for the Indemnifying Party,
who shall conduct the defense of such claim or litigation, shall be approved by the Indemnified Party (whose approval shall not
be unreasonably withheld), and the Indemnified Party may participate in such defense at such party’s expense. Notwithstanding
the foregoing, the failure of any Indemnified Party to give notice as provided herein shall not relieve the Indemnifying Party
of its obligations hereunder, unless such failure resulted in actual detriment to the Indemnifying Party. No Indemnifying Party,
in the defense of any such claim or litigation, shall, except with the consent of each Indemnified Party, consent to entry of any
judgment or enter into any settlement that does not include as an unconditional term thereof the giving by the claimant or plaintiff
to such Indemnified Party of a release from all liability in respect of such claim or litigation.

 

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(d)       Notwithstanding
the foregoing, to the extent that the provisions on indemnification contained in the underwriting agreements entered into among
Investor, the Company and the underwriters in connection with the underwritten public offering are in conflict with the foregoing
provisions, the provisions in the underwriting agreement shall be controlling as to the Registrable Securities included in the
public offering.

 

(e)       The
indemnification provided by this Section 4 shall be a continuing right to indemnification and shall survive the registration and
sale of any securities by any person entitled to indemnification hereunder and the expiration or termination of this Agreement.

 

(f)       If
the indemnification provided for hereunder is held by a court of competent jurisdiction to be unavailable to an Indemnified Party
with respect to any loss, claim, damage, liability or action referred to herein, then the Indemnifying Party, in lieu of indemnifying
such Indemnified Party hereunder, shall contribute to the amounts paid or payable by such Indemnified Party as a result of such
loss, claim, damage, liability or action in such proportion as is appropriate to reflect the relative fault of the Indemnifying
Party on the one hand and of the Indemnified Party on the other in connection with the statements or omissions which resulted in
such loss, claim, damage, liability or action as well as any other relevant equitable considerations; provided, that the
maximum amount of liability in respect of such contribution shall be limited, in the case of each holder of Registrable Securities,
to an amount equal to the net proceeds (after underwriting fees, commissions or discounts) actually received by such seller from
the sale of Registrable Securities effected pursuant to such registration. The relative fault of the Indemnifying Party and of
the Indemnified Party shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of
a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Indemnifying
Party or by the Indemnified Party and the parties’ relative intent, knowledge, access to information and opportunity to correct
or prevent such statement or omission. The parties agree that it would not be just and equitable if contribution pursuant hereto
were determined by pro rata allocation or by any other method or allocation which does not take account of the equitable considerations
referred to herein. No Person guilty or liable of fraudulent misrepresentation within the meaning of Section 11(f) of the Securities
Act shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation.

 

		5.	REPORTS UNDER the EXCHANGE ACT

 

With a view to making available
to Investor the benefits of Rule 144 promulgated under the Securities Act and any other rule or regulation of the SEC that may
at any time permit Investor to sell securities of the Company to the public without registration, the Company shall:

 

(a)       make
and keep public information available, within the meaning of Rule 144, at all times after the effective date of (i) the first registration
statement covering an underwritten public offering filed by the Company or (ii) the first registration by the Company under the
Exchange Act;

 

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(b)       following
a public offering or a registration under the Exchange Act, 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; and

 

(c)       furnish
to Investor forthwith upon request a written statement by the Company that it has complied with the reporting requirements of Rule
144 (at any time after ninety (90) days after the effective date of said first registration statement filed by the Company), and
of the Securities Act and the Exchange Act (at any time after it has become subject to such reporting requirements), a copy of
the most recent annual or quarterly report of the Company, and such other reports and documents filed by the Company with the SEC
as may be reasonably requested in availing any such holder to take advantage of any rule or regulation of the SEC permitting the
selling of any such securities without registration.

 

		6.	LIMITATIONS IN CONNECTION WITH FUTURE GRANTS OF REGISTRATION RIGHTS

 

From and after the date
of this Agreement, the Company shall not, without the prior written consent of Investor, enter into any agreement with any holder
or prospective holder of any securities of the Company which would allow such holder or prospective holder to include such securities
in any registration filed under Section 1 hereof, unless under the terms of such agreement, such holder or prospective holder may
include such securities in any such registration only to the extent that the inclusion of his securities will not reduce the amount
of the Registrable Securities of Investor to be included in such registration.

 

		7.	TRANSFER OF REGISTRATION RIGHTS

 

The registration rights
of Investor (and of any permitted transferee of Investor) under this Agreement with respect to any Registrable Securities may be
assigned in whole or in part as provided in Section 8(b) below. Nothing in this Section 7 provides any Demand Registration rights
to any transferee of the Investor, except any securities of the Company held by any of the Affiliates of the Investor and/or its
respective limited partners shall continue to be Registrable Securities under this Agreement.

 

		8.	Miscellaneous

 

(a)       Except
as otherwise expressly provided herein, neither this Agreement nor any term hereof may be amended, waived, discharged or terminated,
except by a written instrument signed by the Company and Investor.

 

(b)       This
Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective heirs, executors, administrators,
legal representatives, successors and permitted assigns. This Agreement, and the rights and obligations of Investor hereunder,
may be assigned by Investor to any person or entity to which Registrable Securities are transferred by Investor, and such transferee
shall be deemed to have acquired all of the rights and obligations of Investor for purposes of this Agreement; provided,
that the transferee provides written notice of such assignment to the Company and provided that any such transfer shall be made
strictly in accordance with all applicable laws; and provided, further, that such rights may not be held or exercised
by more than one transferee at any one time. The Company may not assign its rights under this Agreement except to its successors-in-interest
as a result of a merger, reorganization or a sale of all or substantially all of the assets of the Company.

 

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(c)       This
Agreement may be executed in any number of counterparts, and each such counterpart hereof shall be deemed to be an original instrument,
but all such counterparts together shall constitute but one agreement (notwithstanding that all of the parties are not signatories
to the original or the same counterpart, or that signature pages from different counterparts are combined), and it shall not be
necessary when making proof of this Agreement or any counterpart thereof to account for any other counterpart, and the signature
of any party to any counterpart shall be deemed to be a signature to and may be appended to any other counterpart. For purposes
of this Agreement, a document (or signature page thereto) signed and transmitted by facsimile machine or other electronic means
is to be treated as an original document. The signature of any party on any such document, for purposes hereof, is to be considered
as an original signature, and the document transmitted is to be considered to have the same binding effect as an original signature
on an original document. At the request of any party, any facsimile or other electronic signature is to be re-executed in original
form by the parties which executed the facsimile or other electronic signature. No party may raise the use of a facsimile machine
or other electronic means, or the fact that any signature was transmitted through the use of a facsimile machine or other electronic
means, as a defense to the enforcement of this Agreement.

 

(d)       All
notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively given
upon the earlier of actual receipt or: (i) personal delivery to the party to be notified; (ii) five (5) days after having been
sent by registered or certified mail, return receipt requested, postage prepaid; or (iii) one (1) business day after deposit with
a nationally recognized overnight courier, freight prepaid, specifying next business day delivery, with written verification of
receipt. All communications shall be sent to each party as follows:

 

If to the Company:

 

Metropolitan Bank Holding Corp

99 Park Avenue, 4th Floor

New York, NY 10016

E-mail: mdefazio@metropolitanbankny.com

Attention: Mark R. DeFazio

Title: President and Chief Executive Officer

 

with a copy to:

 

Luse Gorman, PC

Facsimile: (202) 362-2902

E-mail: glax@luselaw.com

Attention: Gary A. Lax

 

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If to Investor:

 

The Endicott Group

570 Lexington Avenue, 37th Floor

New York, NY 10022

E-mail: wayne@theendicottgroup.com

Attention: Wayne R. Goldstein

Title: Co-President

 

with copies to:

 

Gunster, Yoakley & Stewart, P.A.

777 South Flagler Drive, Suite 500 East

West Palm Beach, FL 33401

E-mail: mmitrione@gunster.com

Attention: Michael V. Mitrione

 

(e)       Wherever
the term “including” is used herein, it shall be deemed to mean “including, without limitation.”

 

(f)       In
case any one or more of the provisions contained in this Agreement, or any of the documents or agreements contemplated hereby,
should be determined to be invalid, illegal or unenforceable in any respect, the validity, legality, and enforceability of the
remaining provisions contained herein, or therein, shall not be in any way affected or impaired thereby.

 

(g)       If,
and as often as, there is any change in the Common Stock or the Non-Voting Preferred Stock by way of a stock split, stock dividend,
combination or reclassification, or through a merger, consolidation, reorganization or recapitalization, or by any other means,
appropriate adjustment shall be made in the provisions hereof so that the rights and privileges granted hereby shall continue with
respect to the Common Stock and the Non-Voting Preferred Stock as so changed.

 

(h)       Each
holder of Registrable Securities, in addition to being entitled to exercise all rights granted by law, including recovery of damages,
shall be entitled to specific performance of its rights under this Agreement. The Company acknowledges that monetary damages would
not be adequate compensation for any loss incurred by reason of a breach by it of the provisions of this Agreement and the Company
hereby agrees to waive the defense in any action for specific performance that a remedy at law would be adequate.

 

(i)       This
Agreement shall be governed by and construed in accordance with the laws of the State of New York, without regard to conflicts
of law principles that would result in the application of any law other than the law of the State of New York. The parties agree
to submit to the jurisdiction of the federal and state courts located in the New York, New York in any proceeding involving this
Agreement.

 

(j)       THE
PARTIES HERETO WAIVE ALL RIGHT TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING TO ENFORCE OR DEFEND ANY RIGHTS UNDER THIS AGREEMENT
OR UNDER ANY AGREEMENT, INSTRUMENT OR OTHER DOCUMENT CONTEMPLATED HEREBY OR RELATED HERETO AND IN ANY ACTION DIRECTLY OR INDIRECTLY
RELATED TO OR CONNECTED WITH THE OBLIGATIONS OF THIS AGREEMENT. THE PARTIES ACKNOWLEDGE THAT THIS WAIVER MAY DEPRIVE EACH OF THEM
AN IMPORTANT RIGHT AND THAT SUCH WAIVER HAS BEEN KNOWINGLY AND VOLUNTARILY MADE BY THE PARTIES AFTER CONSULTATION WITH THEIR LEGAL
COUNSEL.

 

(k)       The
headings or captions of the various Sections and other divisions of this Agreement are intended for convenient reference only and
neither form a part hereof nor are to be relied upon to interpret or modify any of the provisions of this Agreement.

 

[Remainder of page intentionally
left blank. Signature page follows.]

 

    	 	9	 

     

    

 

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

 

	 	COMPANY:
	 	 
	 	METROPOLITAN BANK HOLDING CORP
	 	 	 
	 	By:	/s/ Mark R. DeFazio
	 	Name:  	Mark R. DeFazio
	 	Title:  	President and Chief Executive Officer

 

	 	INVESTOR:
	 	 	 	 
	 	Endicott Opportunity Partners IV, L.P.
	 	 	 	 
	 	By:  	W.R. ENDICOTT IV, L.L.C., General Partner
	 	 	 	 
	 	 	By:	/s/ Wayne K. Goldstein
	 	 	 	Name:  Wayne K. Goldstein
	 	 	 	Title:  Managing Member

 

[Signature Page to Registration Rights Agreement]

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