Document:

EX-10.1

 Exhibit 10.1 
  

 
 January 19, 2017 

Sandra Wallach 
 Dear Sandra:

 I am pleased to invite you to join the leadership team of Identiv, Inc. (the “Company”), with an anticipated start
date of February 15, 2017 (your actual start date hereinafter the “Effective Date”). This offer letter sets forth the terms and conditions of your prospective employment with the Company. Your job title will be Chief
Financial Officer, and you will have duties and authority consistent with your position. You will report to the Chief Executive Officer and the Audit Committee of the Company’s Board of Directors (the “Board”). You agree
that, during your service at the Company, you shall not engage in any other employment, consulting or other business which conflicts with or may reasonably be seen to interfere with the full performance of your duties to the Company without the
prior written consent of the Board. 
 Compensation; Benefits 

You will receive an initial base salary of $265,000 annualized, paid in accordance with the Company’s standard payroll procedures. Your
compensation will be subject to periodic review and adjustment in accordance with Company practices. 
 All compensation will be subject to
authorized payroll deductions and required tax withholdings. All compensation due hereunder is intended to be exempt from or compliant with Section 409A of the Internal Revenue Code, and all provisions hereof are to be interpreted and
administered in a manner consistent with this intent. You agree that the Company does not have a duty to design its compensation policies in a manner that minimizes your tax liabilities, and you will not make any claim against the Company related to
tax liabilities arising from your compensation. Any compensation paid pursuant to this letter agreement that is subject to recovery under any applicable law, government regulation or stock exchange listing requirement, will be subject to such
deductions and clawback as may be required. 
 The Company shall promptly reimburse you for the ordinary and necessary business expenses you
incur in the performance of your duties, provided that such expenses are incurred and accounted for in accordance with the Company’s reimbursement policy. You will be eligible to participate in the employee benefit plans and paid vacation
programs made available by the Company to its senior executives from time to time. 
 Incentive Equity Award 

Subject to Board approval, you will be granted 90,000 restricted stock units (the “RSUs”) under the Company’s 2011
Incentive Compensation Plan (the “Plan”). Subject to your continued employment, the RSUs will vest over four years beginning on the Effective Date, with 25% of the RSUs vesting on the first anniversary of the Effective Date
and the remaining RSUs vesting in equal quarterly installments for 12 quarters following the first anniversary of the Effective Date. The RSUs will be governed by the terms of the Plan and a forthcoming award agreement. 

 Termination of Employment 

Your employment with the Company is “at-will.” This means that either you or the Company can terminate the employment relationship at
any time and for any reason, with or without cause or prior notice. 
 Upon any termination of employment for any reason, you will be
entitled to payment of all earned but unpaid base salary and unused paid vacation accrued as of the effective date of termination consistent with California law, as well as payment of any authorized but unreimbursed business expenses no later than
thirty (30) days following the effective date of termination. You will also be entitled to continuation of any employee benefits as required by applicable law, including COBRA. Except as provided below, you will not be entitled to any
additional termination compensation or benefits hereunder. 
 If the Company terminates your employment without Cause (as defined below) and
you provide an Enforceable Release (as defined below), then you will be entitled to: 
 (i) three (3) months continued payment of your
then-current base salary (subject to applicable deductions and required tax withholdings) in accordance with the Company’s standard payroll procedures, but with the first installment delayed to the first pay period after the Enforceable Release
and such first installment to be inclusive of any amounts otherwise payable while the Enforceable Release is pending; and 
 (ii) Benefits
Continuation (as defined below) for three (3) months beginning in the month after your last day of employment. 
 Termination of
Employment- Defined Terms 
 For purposes of this letter agreement, “Benefits Continuation” is defined as Company
reimbursement of the COBRA premiums for continuation of the Company group health plan coverage for yourself and your eligible dependents that was in effect as of the date of your termination; provided, however, that such reimbursement shall
terminate if and to the extent you become eligible to receive group health coverage from a subsequent employer (and any such eligibility shall be promptly reported to the Company). Notwithstanding the foregoing, if reimbursement of COBRA premiums
hereunder would violate the Patient Protection and Affordable Care Act of 2010, the parties agree to reform this as necessary to comply with said law and the regulations issued thereunder. 

For purposes of this letter agreement, a termination of your employment will be for “Cause” if you are terminated for
any one or more of the following events, as determined in good faith by the Board: (i) your commission of a criminal offence involving moral turpitude; (ii) your commission of any act of dishonesty either intended to injure the Company or
otherwise having a material detrimental effect on the Company; (iii) in carrying out your duties hereunder (A) gross negligence, (B) willful misconduct or (C) failure to comply with a legal directive of the Board or your direct
report that is not cured within thirty 
 (30) days after written notice of such breach; or (iv) your breach of any material provision
of this letter agreement, any material Company policy or your Nondisclosure, Proprietary Information Agreement and Inventions Assignment. 

For purposes of this letter agreement, an “Enforceable Release” is defined as an executed release of claims in a form
satisfactory to the Company that is irrevocable within sixty (60) days after your termination of employment, or such shorter period as the Company may require. 

Company Policies 
 In the
performance of your duties, you shall comply with all applicable laws, rules and regulations as well as all Company rules, procedures, policies, requirements and directions. Like all Company employees, as a condition of your employment with the
Company, you will be required to sign and to be bound by the terms of the Company’s Nondisclosure, Proprietary Information Agreement and Inventions Assignment, a copy of which is attached to this letter. 

  
 2 

 You understand and agree that by entering into this letter agreement, you represent to the
Company that your performance will not breach any other agreement to which you are a party and that you have not, and will not during the term of your employment with the Company, enter into any oral or written agreement in conflict with any of the
provisions of this letter agreement or the Company’s policies. 
 Integration; Modification; Severability; Disputes 

This letter agreement, your Proprietary Information Agreement, the Indemnification Agreement to be entered into by the Company and you in your
capacity as Chief Financial Officer, and any written Company plans and policies that are referenced in this letter agreement, as such plans and policies may be amended by the Company from time to time, set forth the terms of your employment with the
Company on and after the Effective Date, and supersede and replace any prior agreements, representations or understandings, whether written, oral or implied, between you and the Company. No waiver, alteration, or modification, if any, of the
provisions of this agreement will be binding unless in writing and signed by duly authorized representatives of the parties hereto. 
 This
letter agreement will be governed by and construed in accordance with the laws of the State of California without regard to its conflict of laws principles. This letter agreement shall be governed by California law as applied to contracts executed
and to perform entirely in California. If any clause or provision of this letter agreement is found to be invalid or unenforceable, such clause or provision shall be construed and enforced as if it had been more narrowly drawn so as not to be
invalid or unenforceable, and such invalidity or unenforceability shall not affect or render invalid or unenforceable any other provision of this letter agreement. 

To ensure the rapid and economical resolution of disputes that may arise in connection with your employment, you and the Company agree that
any and all disputes, claims, or causes of action, in law or equity, arising from or relating to the enforcement, breach, performance, or interpretation of this letter agreement, your employment, or the termination of your employment, shall be
resolved, to the fullest extent permitted by law, by final, binding and confidential arbitration in California conducted by Judicial Arbitration and Mediation Services, Inc. (“JAMS”) or its successor, under the then applicable rules of
JAMS. 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 by administrative proceeding. The arbitrator shall: (i) 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 (ii) issue a written arbitration decision including the arbitrator’s essential findings and
conclusions and a statement of the award. The Company shall pay all JAMS’ arbitration fees in excess of those administrative fees you would be required to pay if the dispute were decided in a court of law. Nothing in this letter 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 arbitration. Notwithstanding the provisions of this paragraph, any claims by either party arising under
the Proprietary Information Agreement or involving trade secrets shall be resolved through the courts and not through the arbitration procedure described above. 

  
 3 

 This offer is contingent upon satisfactory results of the background checks you have authorized
us to conduct, and upon proof of your eligibility for employment in the United States. This offer is only valid through February 15, 2017. You may indicate your acceptance of this offer by signing the acknowledgment below and returning it to
me. 
  
 

 

  
 4STOCK
PURCHASE AGREEMENT

 

THIS
STOCK PURCHASE AGREEMENT (this “Agreement”), dated as of the last date provided for on the signature page herein
(the “Effective Date”), is entered into by and among Imprimis Pharmaceuticals, Inc., a Delaware corporation
(the “Seller”), ImprimisRx TX, Inc., a Texas corporation (the “Company”) and Livernois &
London, LLC, a Texas limited liability company (the “Buyer”). Each of the foregoing may be referred to herein
as a “Party” and collectively as the “Parties.”

 

RECITALS

 

WHEREAS,
the Seller owns one hundred percent (100%) of the issued and outstanding shares of the common stock, par value $0.01 (“Common
Stock”) of the Company (the “Shares”);

 

WHEREAS,
the Company develops, produces and sells retail and compounded pharmaceuticals (the “Business”); and

 

WHEREAS,
the Sellers desire to sell the Shares to the Buyer, and the Buyer desires to purchase the Shares from the Sellers, upon the terms
and subject to the conditions set forth in this Agreement;

 

AGREEMENT

 

NOW
THEREFORE, in consideration of the foregoing and the mutual covenants, agreements and warranties herein contained and for other
good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the Parties agree as follows:

 

ARTICLE
I

DEFINITIONS

 

1.1
Definitions. The following terms shall have the following meanings for the purposes of this Agreement:

 

(a)
“Affiliate” means, with respect to any Person, any (i) officer, director, partner, member or manager of such
Person, (ii) spouse, parent, sibling or descendant (including adopted or stepchildren) of such Person (or a spouse, parent, sibling
or descendant (including adopted or stepchildren) of any director or officer of such Person) and (iii) any other Person that,
directly or indirectly, through one or more intermediaries, controls, or is controlled by, or is under common control with, such
Person. The terms “control” and “controlled” include, without limitation, the possession,
directly or indirectly, of the power to direct the management and policies of a Person, whether through the ownership of voting
securities, by contract or otherwise.

 

(b)
“Business Day” means any day other than a Saturday, Sunday or any other day on which banking institutions in
the State of California, are not open for the transaction of normal banking business.

 

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(c)
“Closing” means the consummation(s) of the transactions contemplated herein.

 

(d)
“Closing Date” means the date on which the Closing occurs.

 

(g)
“Governmental Authority” means the government of the United States or any foreign country or any state or political
subdivision thereof and any entity, body or authority exercising executive, legislative, judicial, regulatory or administrative
functions of or pertaining to government.

 

(h)
“Law” or “Laws” means any law, statute, regulation, ordinance, rule, order, decree, judgment,
consent decree, settlement agreement or governmental requirement enacted, promulgated, entered into, agreed or imposed by any
Governmental Authority.

 

(i)
“Lien” means any mortgage, lien, charge, restriction, pledge, security interest, option, lease or sublease,
claim, right of any third party, easement, encroachment or encumbrance.

 

(j)
“Lease” means the lease agreement, as amended, between the Seller and HCRI Allen Medical Facility, LLC, a Delaware
limited liability company (the “Lessor”), for the premises currently leased by Seller located at 1105 N. Central
Expressway, Suite 2110, Allen, Texas 75013, a copy of which has been attached hereto as Exhibit A.

 

(l)
“Person” means any individual, corporation, proprietorship, firm, partnership, limited partnership, trust,
association or other entity, including a government or government department, agency or instrumentality.

 

ARTICLE
II

SALE
AND PURCHASE OF SHARES

 

2.1
Sale and Purchase of Shares. Subject to the terms of this Agreement, the Seller hereby agrees to sell to the Buyer, and
the Buyer agrees to purchase from the Seller, the Shares which represent one hundred percent (100%) of the issued and outstanding
shares of capital stock of the Company, free and clear of all Liens, in consideration of the assumption of the Lease (as further
outlined in Section 6.5 and 7.5 herein.

 

ARTICLE
III

REPRESENTATIONS
AND WARRANTIES OF THE SELLER

 

In
order to induce the Buyer to enter into this Agreement, the Seller represents and warrants to the Buyer, as at the date of this
Agreement and as at the Closing Date, as follows:

 

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3.1
Organization. The Seller is a corporation, duly organized, validly existing and in good standing under the Laws of the
jurisdiction in which it is incorporated. The Seller has the full corporate power and authority to own and operate its assets
and properties and to conduct and carry on its business as and to the extent now conducted.

 

3.2
Authorization. The Seller has the requisite power and authority to enter into this Agreement and to consummate the transactions
contemplated hereby. The execution and delivery of this Agreement and the consummation of the transactions contemplated hereby
by the Seller has been duly authorized by all necessary action on the part of the Seller. This Agreement, and each of the other
agreements being delivered by the Seller in connection herewith, have been duly executed and delivered by the Seller and, assuming
this Agreement constitutes the valid and binding obligation of the all Parties, constitutes the valid and binding obligation of
the Seller, enforceable against the Seller in accordance with its terms.

 

3.3
Title to Shares. The Seller has good and valid title to the Shares and at the Closing will transfer to the Buyer good and
valid title to the Shares, free and clear of any Encumbrances.

 

3.4
Non-contravention. The execution, delivery and performance of this Agreement by the Seller and the consummation of the
transactions contemplated hereby and compliance with the provisions hereof do not and will not: (i) violate any Law to which the
Seller, the Company or any of their respective assets are subject; or (ii) violate any provision of the fundamental documents
of the Seller.

 

3.5
Capitalization of the Company. The authorized capital stock of the Company consists of 1,000,000 shares of Common Stock,
of which 100,000 shares of Common Stock are issued and outstanding; all of which are owned (beneficially and of record) by the
Seller. Except for the Shares, there are no shares or other securities of the Company issued or outstanding. All of the Shares
have been duly authorized, are validly issued, fully paid and non-assessable and no personal liability attaches to the ownership
thereof. Upon the consummation of the transactions contemplated by this Agreement, and assuming the Buyer’s assumption of
the Lease, the Buyer will own all of the issued and outstanding shares of the Company free and clear of all Encumbrances, proxies,
voting trusts or agreements or other restrictions and limitations of any kind.

 

3.6
Subsidiaries. The Company does not have any subsidiaries.

 

3.7
Litigation. There is no proceeding pending or, to the knowledge of the Seller, threatened by or against, or affecting the
assets of, the Company or to the knowledge of the Seller, against any officer, director, shareholder, employee or agent of the
Company in their capacity as such or relating to their employment services or relationship with the Company, and the Company is
not bound by any legal order.

 

3.8
No Conflict With Other Instruments. Notwithstanding the Lease and assumption by the Buyer thereof, the execution of this
Agreement and the consummation of the transactions contemplated hereby, will not result in the breach of any term or provision
of, constitute an event of default under, or require the consent or approval of any third-party pursuant to, any material contract,
agreement, or instrument to which the Seller is a party.

 

3.9
No Misrepresentations. None of the information contained in the representations and warranties of the Seller set forth
in this Agreement contains any untrue statement of a material fact or omits to state a material fact necessary to make the statements
contained herein not misleading.

 

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3.10
Representation by Legal Counsel. The Seller acknowledges that it has been represented by legal counsel of its choice in
connection with the negotiation, execution and delivery of this Agreement and has received such advice and counsel in connection
with the sale of the Shares contemplated hereby as it determined to be necessary or desirable.

 

3.11
Fees. No brokerage or finder’s fees or commissions are or will be payable by the Seller or the Company to any broker,
financial advisor or consultant, finder, placement agent, investment banker, bank or other Person with respect to the transactions
contemplated by the Agreement. Subject to the Legal Fee as outlined in Section 11.2. the Buyer shall have no obligation with respect
to any fees or with respect to any claims made by or on behalf of other Persons for fees of a type contemplated in this Section
that may be due in connection with the transactions contemplated by this Agreement.

 

ARTICLE
IV

REPRESENTATIONS
AND WARRANTIES OF THE BUYER

 

In
order to induce the Seller to enter into this Agreement, the Buyer represents and warrants to the Seller, as at the date of this
Agreement and as at the Closing Date, as follows:

 

4.1
Organization. The Buyer is a corporation, duly organized, validly existing and in good standing under the Laws of the jurisdiction
in which it is incorporated. The Buyer has the full corporate power and authority to own and operate its assets and properties
and to conduct and carry on its business as and to the extent now conducted.

 

4.2
Authorization. The Buyer has the requisite power and authority to enter into this Agreement and to consummate the transactions
contemplated hereby. The execution and delivery of this Agreement and the consummation of the transactions contemplated hereby
by the Buyer has been duly authorized by all necessary action on the part of the Buyer. This Agreement, and each of the other
agreements being delivered by the Buyer in connection herewith, has been duly executed and delivered by the Buyer and, assuming
this Agreement constitutes the valid and binding obligation of the other Parties, constitutes the valid and binding obligation
of the Buyer, enforceable against the Buyer in accordance with its terms.

 

4.3
Non-contravention. The execution, delivery and performance of this Agreement by the Buyer and the consummation of the transactions
contemplated hereby and compliance with the provisions hereof do not and will not: (i) violate any Law to which the Buyer or any
of their respective assets are subject; or (ii) violate any provision of the fundamental documents of the Buyer.

 

4.5
Representation by Legal Counsel. The Buyer acknowledges that it has been represented by legal counsel of its choice in
connection with the negotiation, execution and delivery of this Agreement and has received such advice and counsel in connection
with the sale of the Shares contemplated hereby as it determined to be necessary or desirable.

 

4.6
Securities Representations. The Buyer understands that the Shares are restricted stock, which have not been registered
with the Securities and Exchange Commission (the “SEC”), any state securities agency or any foreign securities
agency, and further, the Shares have not been approved or disapproved by the SEC, any state securities agency or any foreign securities
agency. The Buyer is acquiring the Shares solely for investment for its own account and not with a view to, or for, resale in
connection with any distribution within the meaning of any federal securities act, state securities act or any other applicable
federal or state laws. The Buyer understands the speculative nature and risks of investments associated with the Shares, and confirms
that the Shares would be suitable and consistent with its ability to bear the risks of this investment and that there is no public
market for the Shares acquired herein.

 

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4.7
Due Diligence. The Buyer has had the opportunity to perform it due diligence on the Company and investigate the facts pertaining
to this Agreement to the extent that Buyer deems necessary. The Buyer and its advisors, if any, have been furnished with all materials
relating to the Business, finances and operations of the Company and other information the Buyer deemed material to making an
informed investment decision regarding entering into this Agreement and the purchase of the Shares and the Business. The Buyer
acknowledges that it has received and reviewed copies of all documents it has requested pertaining to its due diligence review.
The Buyer and its advisors, if any, have been afforded the opportunity to ask questions of the Seller, the Company and its management.
The Buyer understands that its investment in the Shares and acquisition of the Company involves a high degree of risk. The Buyer
is in a position regarding the Company, which, based upon employment, family relationship or economic bargaining power, enabled
and enables such Buyer to obtain information from the Company in order to evaluate the merits and risks of this investment. The
Buyer has sought such accounting, legal and tax advice as it has considered necessary to make an informed investment decision
with respect to its acquisition of the Company and the Shares. Without limiting the foregoing, the Buyer has carefully considered
the potential risks relating to the Company and a purchase of the Shares, and fully understands that the Shares are a speculative
investment that involves a high degree of risk of loss of the Buyer’s entire investment.

 

ARTICLE
V

COVENANTS

 

5.1
Resignation as Officers and Directors. Mark L. Baum, the President and sole Director of the Company, and Andrew R. Boll,
the Secretary and Chief Financial Officer of the Company, shall resign in all capacities as members of the Board of Directors
and officers of the Company. Each shall tender their resignation from such positions effective as of the Closing Date. Within
five (5) days following the Closing Date, the Seller shall notify and file with the Texas Secretary of State the changes in ownership
and management.

 

5.2
Change in Name; Notification of Change in Ownership. Within five (5) days following the Closing Date, the Seller shall
change the name of the Company with the Texas Secretary of State, the Texas Board of Pharmacy and all other non-resident Boards
of Pharmacy the Company hold licenses with. In addition, the Seller shall notify all other necessary third parties of the change
in name and ownership including, where applicable, all insurance providers and pharmacy benefit managers. Following the Closing,
the Seller and the Company shall not use the name ImprimisRx TX, Inc., ImprimisRx, Imprimis or any other trademark or tradename
currently owned by, used by or associated with the Seller.

 

5.3
Change in Pharmacist-In-Charge. The current Pharmacist-In-Charge (“PIC”), shall resign and shall tender
his resignation from such position effective as of the Closing Date. Within five (5) days following the Closing Date, the Seller
shall notify the Texas Board of Pharmacy and all other non-resident Boards of Pharmacy the Company hold licenses with of the resignation
of the PIC and appointment of the Company’s new PIC.

 

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ARTICLE
VI

CONDITIONS
PRECEDENT TO OBLIGATIONS OF THE BUYER

 

The
obligations of the Buyer under this Agreement are subject to the satisfaction or waiver by the Buyer of the following conditions
precedent on or before the Closing Date unless otherwise specified:

 

6.1
Representations True as of Both Present Date and Closing Dates. The representations of the Seller contained herein shall
have been accurate, true and correct on and as of the date of this Agreement, and shall also be accurate, true and correct on
and as at the Closing Date with the same force and effect as though made by the Seller on the Closing Date.

 

6.2
Compliance with Agreements and Covenants. The Seller shall have performed and complied with all of her respective covenants,
obligations and agreements contained in this Agreement to be performed and complied with by it on or prior to the Closing Date.

 

6.3
Consents and Approvals. The Buyer shall have received written evidence satisfactory to the Buyer that all consents and
approvals of the Seller required for the consummation of the transactions contemplated hereby have been obtained, waived or none
or required.

 

6.4
Actions or Proceedings. No action or proceeding by any Governmental Authority or other Person shall have been instituted
or threatened which could enjoin, restrain or prohibit, or could result in substantial damages in respect of, any provision of
this Agreement or the consummation of the transactions contemplated hereby.

 

6.5
Assumption of Lease. Prior to the Closing Date, the Parties shall obtain consent from the lessor to the new ownership of
the Company by Buyer, similar in structure to the “Consent to Assignment of Lease” contained in the existing
Lease documentation.

 

ARTICLE
VI

CONDITIONS
PRECEDENT TO OBLIGATIONS OF THE SELLER

 

The
obligations of the Seller under this Agreement are subject to the satisfaction or waiver by the Seller of the following conditions
precedent on or before the Closing Date:

 

7.1
Representations True as of Both Present Date and Closing Date. The representations of the Buyer contained herein shall
have been accurate, true and correct on and as of the date of this Agreement, and shall also be accurate, true and correct on
and as at the Closing Date with the same force and effect as though made by the Buyer on the Closing Date.

 

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7.2
Compliance with Agreements and Covenants. The Buyer shall have performed and complied with all of its respective covenants,
obligations and agreements contained in this Agreement to be performed and complied with by it on or prior to the Closing Date.

 

7.3
Actions or Proceedings. No action or proceeding by any Governmental Authority or other Person shall have been instituted
or threatened which could enjoin, restrain or prohibit, or could result in substantial damages in respect of, any provision of
this Agreement or the consummation of the transactions contemplated hereby.

 

7.4
Consents and Approvals. The Seller shall have received written evidence satisfactory to the Seller that all consents and
approvals of the Buyer required for the consummation of the transactions contemplated hereby have been obtained, waived or none
or required.

 

7.5
Assumption of Lease. Prior to the Closing Date, the Parties shall have entered into an agreement with the Lessor assigning
the Lease from the Seller/Company to the Buyer, similar in structure to the Consent to Assignment of Lease contained in the existing
Lease documentation.

 

ARTICLE
VIII

THE
CLOSING

 

8.1
The Closing. The Closing shall be scheduled to occur at 12:00 noon at the offices of the Seller, on or before the tenth
(10th) day following the Effective Date (the “Termination Date”), or on date the Parties hereto shall mutually
agree. The Closing, and all transactions to occur at the Closing, shall be deemed to have taken place at the offices of the Seller,
and shall be effective as of the close of business on the Closing Date.

 

8.2
Deliveries by the Seller. At the Closing, in addition to any other documents or agreements required under this Agreement,
the Seller shall deliver to the Buyer the following:

 

(a)
Stock certificate number 0005 representing all of the Shares;

 

(b)
Resolutions appointing the designees of the Buyer as the Company’s officers and directors and the subsequent, written resignations
of Mark L. Baum and Andrew R. Boll as the directors and officers of the Company; and

 

(c)
Fully executed copies of the Consent to Assignment of Lease, or similar document.

 

8.3
Deliveries by the Buyer. At the Closing, the Buyer shall deliver to the Seller the following:

 

(a)
Payment of the Legal Fee; and

 

(b)
Fully executed copies of the Consent to Assignment of Lease, or similar document.

 

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ARTICLE
IX

TERMINATION

 

9.1
Termination. This Agreement may be terminated at any time on or prior to the Closing Date: (a) by the mutual consent of
the Seller and the Buyer; or (b) by the Seller or the Buyer, if the Closing shall not have taken place on or before the Termination
Date; provided however, that the right to terminate this Agreement under this Section shall not be available to any Party
whose wilful failure to fulfil any obligation under this Agreement has been the cause of or resulted in the failure of the Closing
to occur on or before such date;

 

9.2
Effect of Termination. If this Agreement is terminated pursuant to Section 9.1, all obligations of the Parties hereunder
shall terminate.

 

ARTICLE
X

INDEMNIFICATION;
WARRANTY

 

10.1
Indemnification. Buyer hereby agrees to indemnify Seller and each of its officers, agents and directors against any loss,
liability, claim, damage, or expense whatsoever (including, but not limited to, any and all expense whatsoever reasonably incurred
in investigating, preparing, or defending against any litigation, commenced or threatened, or any claim whatsoever), to which
it or they may become subject arising out of or based on any actions taken by the Company or the Buyer following the Closing Date.
The indemnification provided for in this paragraph shall survive the Closing.

 

10.2
No Warranty. The Seller shall not be liable to the Buyer for any damages of any type, including but not limited to, any
lost profits, loss of anticipated benefits, or for special, incidental, indirect, punitive, consequential, or exemplary damages
arising out of or in any manner connected with this Agreement, the acquisition of the Company or the subject matter hereof, regardless
of the form of legal action including contract, negligence, tort or under any warranty. In no event shall the Seller be liable
or obligated to the Buyer in any manner for any indirect damages of any kind, including, without limitation, lost profits and
lost revenue, even if informed of or aware of the possibility of any such damages in advance. The limitations set forth above
shall apply to the maximum extent permitted by applicable law and notwithstanding the failure of the essential purpose of any
limited remedies.

 

ARTICLE
XI

MISCELLANEOUS

 

11.1
Confidentiality.

 

(a)
Each Party shall hold the terms and conditions of this Agreement in confidence, shall not disclose such information to any third
party, and shall not use such information other than for the purpose of performing its obligations or exercising its rights under
this Agreement. Each Party may disclose such terms and conditions only to its and its affiliates employees, agents and contractors,
in each case who need to know such information and who are bound by restrictions regarding disclosure and use of such information
no less restrictive than those set forth herein.

 

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(b)
In connection with the activities contemplated under this Agreement, each Party has provided and/or will provide to the other
Party certain other confidential and non-public proprietary information about their respective businesses, products, marketing
efforts, financial data, products and other company information which may be deemed a trade secret or is sensitive in nature and
not otherwise known to the public (“Confidential Information”).

 

(c)
Each Party agrees (i) to keep all Confidential Information of the other Party confidential and not to disclose or reveal any Confidential
Information to any other Person except (A) to such of its pre-approved representatives of such Party who have a need to know such
Confidential Information in connection with this Agreement and in accordance with the terms and conditions hereof and have been
advised of the confidential nature of such Confidential Information and such Party’s obligations hereunder in respect thereof,
(B) to any governmental, regulatory or administrative agency, authority, board or body having jurisdiction over the recipient
where such disclosure is required in accordance with applicable Laws or rules of a stock exchange or automated quotation system,
or (C) to any other Person pursuant to subpoena or the process, whether legal, administrative or other (and the disclosing Party
agrees to provide the other Party with prompt notice of any such subpoena or other similar notice); and (ii) not to use such Confidential
Information for any purpose other than in connection with this Agreement and in accordance with the terms and conditions hereof.

 

(d)
If either Party is requested pursuant to, or required by, legal process to disclose any Confidential Information to any third
party then such Party agrees to provide the other Party with prompt notice of such request(s) to enable the other Party to seek
an appropriate protective order.

 

(e)
Confidential Information shall not include information of a Party that: (i) is or becomes generally available to the public other
than as a result of a disclosure to the other Party or its representatives, (ii) was available to the other Party on a non-confidential
and lawful basis prior to its disclosure by the disclosing Party, or (iii) becomes available to the other Party on a non-confidential
and lawful basis from a Person who is not otherwise bound by a confidentiality agreement with respect to such information, or
is not otherwise prohibited from transmitting such information to such Party.

 

11.2
Expenses. The Buyer shall pay to the Seller a one-time payment of Ten Thousand Dollars ($10,000.00) as reimbursement for
legal fees associated with the Agreement (the “Legal Fee”.) The Buyer shall be responsible for all expenses
of the Buyer (including legal fees and expenses) incurred in connection with this Agreement and the transactions contemplated
hereby.

 

11.3
Notices. All notices, requests, demands, claims and other communications required or permitted hereunder shall be in writing
and shall be deemed to have been duly given if delivered personally, facsimiled or emailed, sent by nationally recognized overnight
courier, postage prepaid, to the Parties hereto at the following respective addresses (or at such other address for any such Party
as shall be specified by like notice), with a copy by email (which shall not constitute notice, unless the recipient thereof acknowledges
receipt in writing or if the recipient acts upon the notice so delivered):

 

    	 	Page 9 of 13	 

     

    

 

	If
    to Buyer:	Livernois
    & London, LLC
	 	 
	If
    to Seller or the:	Imprimis
    Pharmaceuticals, Inc.
	Company	 

 

11.4
Waivers. The failure of a Party hereto at any time or times to require performance of any provision hereof shall in no
manner affect its right at a later time to enforce the same. No waiver by a Party of any condition or of any breach of any term,
covenant, representation or warranty contained in this Agreement shall be effective unless in writing, and no waiver in any one
or more instances shall be deemed to be a further or continuing waiver of any such condition or breach in other instances or a
waiver of any other condition or breach of any other term, covenant, representation or warranty.

 

11.5
Assignment. This Agreement shall be binding upon and inure to the benefit of the Parties hereto and their respective estates,
heirs, legal representatives, successors and assigns. No assignment of any rights or obligations hereunder may be made by any
Party without the prior written consent of the other Parties.

 

11.6
No Third-Party Beneficiaries. This Agreement is solely for the benefit of the Parties hereto and, to the extent provided
herein, their respective estates, heirs, successors, affiliates, directors, officers, employees, agents and representatives, and
no provision of this Agreement shall be deemed to confer upon other third parties any remedy, claim, liability, reimbursement,
cause of action or other right.

 

11.7
Publicity. Except as required by Law or the rules of any stock exchange, no public announcement or other publicity regarding
the transactions referred to herein shall be made by the Buyer, the Seller, the Company or any of their respective affiliates,
officers, directors, employees, representatives or agents, without the prior written agreement of the other Parties, in any case,
as to form, content, timing and manner of distribution or publication; provided, however, that nothing in this Section
shall prevent such Parties from discussing such transactions with those Persons whose approval, agreement or opinion, as the case
may be, is required for consummation of such particular transaction or transactions.

 

11.8
Further Assurances. Upon the reasonable request of a Party, the other Party will, on and after the Closing Date, execute
and deliver such other documents, releases, assignments and other instruments as may be required to carry out the purposes of
this Agreement.

 

    	 	Page 10 of 13	 

     

    

 

11.9
Severability. If any provision of this Agreement shall be held invalid, illegal or unenforceable, the validity, legality
or enforce ability of the other provisions hereof shall not be affected thereby, and there shall be deemed substituted for the
provision at issue a valid, legal and enforceable provision as similar as possible to the provision at issue.

 

11.10
Entire Agreement; Amendment. This Agreement embodies the entire agreement between the Parties and supersedes any prior
representations, communications, understandings and agreements between the Parties regarding the subject matter hereof. There
are no representations, communications, understandings or agreements, oral or written, between the Parties regarding the subject
matter hereof that are not fully expressed herein. No term or section of this Agreement may be charged, waived, discharged, amended
or modified orally or in any manner other than in writing executed by all Parties hereto.

 

11.11
No Partnership or Joint Venture. The Parties shall not, by virtue of this Agreement, in any way or for any reason be deemed
to have become a partner of the other in the conduct of its business or otherwise, or a joint venturer. In addition, by virtue
of this Agreement there shall not be deemed to have occurred a merger of any joint enterprise between the Parties.

 

11.12
Governing Law. The subject matter of this Agreement shall be governed by and construed in accordance with the laws of the
State of California (without reference to its choice of law principles), and to the exclusion of the law of any other forum, without
regard to the jurisdiction in which any action or special proceeding may be instituted. EACH PARTY HERETO AGREES TO SUBMIT TO
THE PERSONAL JURISDICTION AND VENUE OF THE STATE AND/OR FEDERAL COURTS LOCATED IN SAN DIEGO COUNTY, CALIFORNIA FOR RESOLUTION
OF ALL DISPUTES ARISING OUT OF, IN CONNECTION WITH, OR BY REASON OF THE INTERPRETATION, CONSTRUCTION, AND ENFORCEMENT OF THIS
AGREEMENT, AND HEREBY WAIVES THE CLAIM OR DEFENSE THEREIN THAT SUCH COURTS CONSTITUTE AN INCONVENIENT FORUM. AS A MATERIAL INDUCEMENT
FOR THIS AGREEMENT, EACH PARTY SPECIFICALLY WAIVES THE RIGHT TO TRIAL BY JURY OF ANY ISSUES SO TRIABLE.

 

11.13
Counterparts. This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original,
but all such counterparts taken together shall constitute one and the same Agreement. Delivery of an executed counterpart of a
signature page to this Agreement by facsimile or electronic delivery in PDF format shall be as effective as delivery of a manually
executed counterpart of this Agreement and shall be sufficient to bind the Parties to the terms and conditions of this Agreement.

 

***SIGNATURE
PAGE FOLLOWS***

 

    	 	Page 11 of 13	 

     

    

 

SIGNATURE
PAGE

 

IN
WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed and delivered as of the date first above written.

 

	BUYER
        

         

        Livernois
        & London, LLC
	 	SELLER
        

         

        Imprimis
        Pharmaceuticals, Inc.:

	 	 	 
	By:	/s/
    Robert Haywood	 	By:	/s/
    Mark L. Baum
	Name:	Robert
    Haywood	 	Name:	Mark
    L. Baum
	Its:	Manager	 	Its:	Chief
    Executive Officer
	 	 	 	 	 
	Date: February 8, 2017	 	Date February 13, 2017

 

	 	COMPANY
        

         

        ImprimisRx
        TX, Inc.

	 	 	 
	 	By:	/s/
Mark L. Baum
	 	Name:	Mark
    L. Baum
	 	Its:	Chief
    Executive Officer
	 	 	 
	 	Date: February 13, 2017

 

    	 	Page 12 of 13	 

     

    

 

EXHIBIT
A

 

Lease

 

    	 	Page 13 of 13

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