Document:

EX-10.2

 Exhibit 10.2 

Highly Confidential 
 May 13, 2020 

Hornbeck Offshore Services, Inc. 
 103 Northpark
Blvd., Suite 300 
 Covington, LA 70433 
 Attention:
James O. Harp, Jr. 
 Commitment Letter 

Ladies and Gentlemen: 
 Hornbeck
Offshore Services, Inc., a Delaware corporation (“you” or the “Company”), has advised the persons listed on Exhibit A hereto (each, a “DIP Commitment Party” and,
collectively, the “DIP Commitment Parties”), that the Company, together with certain of its domestic and foreign subsidiaries, is considering filing voluntary petitions for relief under chapter 11 of the United States
Bankruptcy Code (the “Bankruptcy Code”), and the Company desires to establish, for the Company and the Company’s subsidiary, Hornbeck Offshore Services, LLC, a Delaware limited liability company (the “Co-Borrower” and, together with the Company, the “DIP Borrowers”), each as a debtor-in-possession
pursuant to the Bankruptcy Code, subject solely to the conditions expressly set forth herein, a senior secured superpriority term loan credit facility in an aggregate principal amount of $75.0 million, consisting of (a) an initial draw of
term loans in an aggregate principal amount not to exceed $50.0 million (the “Initial Draw Loans”) and (b) a delayed draw of term loans in an aggregate principal amount not to exceed $25.0 million (the
“Delayed Draw Loans”; and together with the Initial Draw Loans, the “DIP Loans”; and the credit facility governing the DIP Loans, the “DIP Facility”) in each case, on the terms
set forth in the Draft DIP Credit Agreement (as defined below). This commitment letter is referred to herein as the “Commitment Letter”. Each capitalized term used but not defined herein shall have the meaning assigned to
such term in the draft Superpriority Debtor-In-Possession Term Loan Agreement attached hereto as Exhibit B (the “Draft DIP Credit
Agreement”). 
 1.        Commitments. 

In connection with the foregoing, each of the DIP Commitment Parties is pleased to advise you of its several, but not joint, commitment
to provide the principal amount of the DIP Loans set forth next to such DIP Commitment Party’s name on Exhibit A hereto (the “DIP Commitment”), upon the terms and subject solely to the express conditions set forth
or referred to in this Commitment Letter and in the Draft DIP Credit Agreement. 

2.        Fees. 

As consideration for the DIP Commitment and our agreements described herein, you agree to pay to us the fees set forth in that certain
Restructuring Support Agreement entered into on April 10, 2020 by and among the Company, the other “Company Parties” party thereto and the “Consenting Creditors” party thereto, including the exhibits, schedules and other
attachments thereto (as amended, supplemented or otherwise modified from time to time in accordance with its terms) that are payable in respect of the DIP Facility. 

  
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 3.        Conditions Precedent;
Information. 
 The DIP Commitment is subject solely to (i) the satisfaction of those conditions precedent set forth in
Sections 6.01 and 6.03 of the Draft DIP Credit Agreement (and, in the case of the Delayed Draw Loans, Section 6.02 of the Draft DIP Credit Agreement), (ii) the Debtors having filed with the Bankruptcy Court the Acceptable Plan and the
Acceptable Disclosure Statement and (iii) the negotiation, execution and delivery of definitive documentation for the DIP Facility consistent with the Draft DIP Credit Agreement and otherwise satisfactory to the DIP Commitment Parties. 

Each of the parties hereto agrees that this Commitment Letter is a binding and enforceable agreement with respect to the subject matter
contained herein (including an obligation to negotiate the definitive documentation for the DIP Facility in good faith). 

4.        Indemnification; Expenses. 

YOU SHALL INDEMNIFY EACH DIP COMMITMENT PARTY AND THEIR AFFILIATES AND THE PARTNERS, DIRECTORS, OFFICERS, EMPLOYEES, AGENTS AND ADVISORS
(INCLUDING ATTORNEYS, ACCOUNTANTS, EXPERTS, VALUATION CONSULTANTS AND INVESTMENT ADVISORS) OF EACH DIP COMMITMENT PARTY AND THEIR AFFILIATES (EACH, A “RELATED PARTY”) OF ANY OF THE FOREGOING PERSONS (EACH SUCH PERSON BEING CALLED AN
“INDEMNITEE”) AGAINST, AND HOLD EACH INDEMNITEE HARMLESS FROM, ANY AND ALL LOSSES, CLAIMS, DAMAGES, LIABILITIES, FEES AND RELATED EXPENSES, INCLUDING THE FEES, CHARGES AND DISBURSEMENTS OF ANY COUNSEL FOR ANY INDEMNITEE, INCURRED BY
OR ASSERTED AGAINST ANY INDEMNITEE ARISING OUT OF, IN CONNECTION WITH, OR AS A RESULT OF (i) THE EXECUTION OR DELIVERY OF THIS COMMITMENT LETTER, THE PERFORMANCE BY THE PARTIES HERETO, (ii) THE FAILURE OF THE DIP BORROWERS OR ANY
SUBSIDIARY THEREOF TO COMPLY WITH THE TERMS OF THIS COMMITMENT LETTER, (iii) ANY DIP LOAN OR THE USE OF PROCEEDS THEREFROM, (iv) ANY OTHER ASPECT OF THE COMMITMENT LETTER, OR (v) ANY ACTUAL OR PROSPECTIVE CLAIM, LITIGATION,
INVESTIGATION OR PROCEEDING RELATING TO ANY OF THE FOREGOING, WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY AND REGARDLESS OF WHETHER ANY INDEMNITEE IS A PARTY HERETO, AND SUCH INDEMNITY SHALL EXTEND TO EACH INDEMNITEE NOTWITHSTANDING THE SOLE
OR CONCURRENT NEGLIGENCE OF EVERY KIND OR CHARACTER WHATSOEVER, WHETHER ACTIVE OR PASSIVE, WHETHER AN AFFIRMATIVE ACT OR AN OMISSION, INCLUDING WITHOUT LIMITATION, ALL TYPES OF NEGLIGENT CONDUCT IDENTIFIED IN THE RESTATEMENT (SECOND) OF TORTS OF ONE
OR MORE OF THE INDEMNITEES OR BY REASON OF STRICT LIABILITY IMPOSED WITHOUT FAULT ON ANY ONE OR MORE OF THE INDEMNITEES; PROVIDED THAT ANY OF THE ABOVE INDEMNITIES SHALL NOT, AS TO ANY INDEMNITEE, BE AVAILABLE TO THE EXTENT THAT SUCH LOSSES,
CLAIMS, DAMAGES, LIABILITIES OR RELATED EXPENSES ARE DETERMINED BY A COURT OF COMPETENT JURISDICTION BY FINAL AND NONAPPEALABLE JUDGMENT TO HAVE RESULTED FROM (X) THE GROSS NEGLIGENCE OR WILLFUL MISCONDUCT OF SUCH INDEMNITEE OR (Y) ANY
DISPUTE SOLELY AMONG INDEMNITEES (OTHER THAN ANY CLAIMS AGAINST AN INDEMNITEE IN ITS CAPACITY OR IN FULFILLING ITS ROLE AS AN AGENT OR ARRANGER OR ANY SIMILAR ROLE HEREUNDER AND OTHER THAN ANY CLAIMS ARISING OUT OF ANY ACT OR OMISSION OF THE DIP
BORROWERS OR ANY OF THEIR SUBSIDIARIES). 
 You shall pay all reasonable and documented out-of-pocket fees and expenses incurred by the DIP Commitment Parties and their respective affiliates, including, without limitation, the reasonable and documented fees, charges and disbursements of
(a) one financial advisor for the DIP Commitment Parties 

  
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(which, as of the date hereof, is Ducera Partners LLC) and (b) counsel for the DIP Commitment Parties and the administrative agent under the DIP Facility (including Davis Polk &
Wardwell LLP, Milbank LLP, Thompson Hine LLP, Creel, García-Cuéllar, Aiza y Enriquez, S.C., Pinheiro Neto Advogados, Porter Hedges LLP, Cole Schotz P.C. and other local counsel to the DIP
Commitment Parties in all applicable jurisdictions) and special counsel for each relevant specialty (which, as of the date hereof, in the case of U.S. maritime law, are Blank Rome LLP and
Seward & Kissel LLP) (and, in the case of an actual or perceived conflict of interest, where the party affected by such conflict, informs you of such conflict and thereafter retains its own counsel, of another firm of counsel for each such
affected person), the reasonable and documented travel, photocopy, mailing, courier, telephone and other similar expenses, in connection with the preparation, negotiation, execution, delivery and administration (both before and after the execution
hereof and including advice of counsel to the DIP Commitment Parties as to the rights and duties of the administrative agent and the lenders with respect thereto) of this Commitment Letter and any amendments, modifications or waivers of or consents
related to the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated); provided, that, notwithstanding the foregoing, any fees, charges, disbursements and expenses of Milbank LLP,
Cole Schotz P.C. and Seward & Kissel LLP shall only be paid as required by the Restructuring Support Agreement or the Backstop and Direct Investment Agreement (as defined in the Restructuring Support Agreement). 

5.        Sharing Information; Absence of Fiduciary Relationship; Affiliate Activities.

 You acknowledge that each DIP Commitment Party may be providing debt financing, equity capital, or making investments in, or to,
other companies in respect of which you may have conflicting interests regarding the transactions described herein or otherwise. We will not furnish confidential information obtained from you by virtue of the transactions contemplated by this
Commitment Letter or our other relationships with you to other companies. You also acknowledge that we do not have any obligation to use in connection with the transactions contemplated by this Commitment Letter, or to furnish to you, confidential
information obtained by us from other companies. 
 You further acknowledge and agree that (a) no fiduciary, advisory or agency
relationship between you (or any of your affiliates) and any DIP Commitment Party (or any Related Party thereof) is intended to be or has been created in respect of any of the transactions contemplated by this Commitment Letter, irrespective of
whether any DIP Commitment Party has advised or is advising you (or your affiliates) on other matters, (b) each DIP Commitment Party, on the one hand, and you, on the other hand, have an arms-length business relationship under this Commitment
Letter that does not directly or indirectly give rise to, nor do you rely on, any fiduciary duty on the part of any DIP Commitment Party (or any Related Party thereof), (c) you are capable of evaluating and understanding, and you understand and
accept, the terms, risks and conditions of the transactions contemplated by this Commitment Letter, (d) you have been advised that each DIP Commitment Party is engaged in a broad range of transactions that may involve interests that differ from
your interests and that DIP Commitment Parties do not have any obligation to disclose such interests and transactions to you by virtue of any fiduciary, advisory or agency relationship arising under this Commitment Letter, and (e) you waive, to
the fullest extent permitted by law, any claims you may have against any DIP Commitment Party (or any Related Party thereof) for breach of fiduciary duty or alleged breach of fiduciary duty arising under this Commitment Letter and agree that no DIP
Commitment Party (or any Related Party thereof) shall have any liability (whether direct or indirect) to you in respect of such a fiduciary duty claim or to any person asserting such a fiduciary duty claim on behalf of or in right of you, including
your stockholders, employees or creditors. 
 You further acknowledge that each DIP Commitment Party may be engaged in securities
trading and brokerage activities as well as providing investment banking, investment management, securities trading, hedging, and corporate and investment banking and research. In the ordinary course of business, any DIP Commitment Party may provide
investment banking advice to, and/or acquire, hold or sell, for its 

  
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own accounts and the accounts of customers, equity, debt and other securities and financial instruments (including bank loans and other obligations) of, you and your subsidiaries and other
companies with which you or your subsidiaries may have commercial or other relationships. With respect to any securities and/or financial instruments so held by any DIP Commitment Party, or any of its customers, all rights in respect of such
securities and financial instruments, including any voting rights, will be exercised by the holder of the rights, in its sole discretion. Accordingly, there may be situations where the DIP Commitment Parties and/or their clients either now have or
may in the future have interests, or take actions, that may conflict with the Company’s interests. For example, any DIP Commitment Party may, in the ordinary course of business, engage in trading in financial products or undertake other
investment businesses for its own account or on behalf of other clients, including without limitation, trading in or holding long, short or derivative positions in securities, loans or other financial products of the Company or its affiliates or
other entities connected with the DIP Facility or the transactions contemplated hereby. 
 In recognition of the foregoing, the
Company agrees that no DIP Commitment Party is required to restrict its activities as a result of this Commitment Letter and that any DIP Commitment Party may undertake any business activity without further consultation with or notification to the
Company. Neither this Commitment Letter nor the receipt by the DIP Commitment Parties of confidential information in connection with this Commitment Letter will give rise to any fiduciary, equitable or contractual duties (including without
limitation, any duty of trust or confidence) that would prevent or restrict the DIP Commitment Parties from acting on behalf of other customers or for its own account. Furthermore, the Company agrees that neither the DIP Commitment Parties nor any
of their Related Parties is under a duty to disclose to the Company or use on behalf of the Company any information whatsoever about or derived from those activities or to account for any revenue or profits obtained in connection with such
activities. However, consistent with the DIP Commitment parties’ long-standing policy to hold in confidence the affairs of its customers, the DIP Commitment Parties agree that confidential information obtained from the Company will be treated
in accordance with the provisions of Section 9 hereof. 

6.        Assignments; Amendments; Etc. 

This Commitment Letter shall not be assignable by you without the prior written consent of each DIP Commitment Party (and any attempted
assignment without such consent shall be null and void), is intended to be solely for the benefit of the parties hereto (and Indemnitees), and is not intended to confer any benefits upon, or create any rights in favor of, any person other than the
parties hereto (and Indemnitees). No DIP Commitment Party may assign its commitment hereunder without the prior written consent of the Company (and any such attempted assignment without such prior written consent shall be null and void ab
initio); provided, however, the consent of the Company shall not be required for a DIP Commitment Party to assign its commitment hereunder to another DIP Commitment Party, an affiliate of a DIP Commitment Party, an Approved Lender
(as defined in the Draft DIP Credit Agreement) with respect to such DIP Commitment Party (as if such DIP Commitment Party were a “Lender” under the Draft DIP Credit Agreement) or an Approved Fund (as defined in the Draft DIP Credit
Agreement) with respect to such DIP Commitment Party (as if such DIP Commitment Party were a “Lender” under the Draft DIP Credit Agreement). Notwithstanding anything herein to the contrary, any DIP Commitment Party may cause any of
Approved Lender and/or Approved Fund with respect to it (as defined in the Draft DIP Credit Agreement, as if such DIP Commitment Party were a “Lender” under the Draft DIP Credit Agreement) to fund all or a portion of its DIP Commitments
without the prior written consent of the Company and without the execution of any assignment or other similar agreement. Any and all obligations of any DIP Commitment Party hereunder may be performed and any and all rights of such DIP Commitment
Party hereunder may be exercised by or through any of its respective affiliates or branches; provided that (a) other than in connection with an assignment to an affiliate of a DIP Commitment Party, an Approved Lender or an Approved Fund
described in this Section 6, no DIP Commitment Party shall be relieved of its obligations hereunder, including in the event that any affiliate or branch through which it performs its obligations fails

  
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to perform the same in accordance with the terms hereof and (b) the applicable DIP Commitment Party shall be responsible for any breach by any of its affiliates or branches of the
obligations hereunder. This Commitment Letter may not be amended or any provision hereof waived or modified except by an instrument in writing signed by each of us and you. This Commitment Letter may be executed in any number of counterparts, each
of which shall be an original and all of which, when taken together, shall constitute one agreement. Delivery of an executed counterpart of a signature page of this Commitment Letter by facsimile or other electronic transmission shall be effective
as delivery of a manually executed counterpart hereof. Section headings used herein are for convenience of reference only, are not part of this Commitment Letter and are not to affect the construction of, or to be taken into consideration in
interpreting, this Commitment Letter. 
 7.        Governing Law; Jurisdiction. 

THIS COMMITMENT LETTER AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS COMMITMENT LETTER SHALL BE GOVERNED BY,
AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK AND (TO THE EXTENT APPLICABLE) THE BANKRUPTCY CODE. 
 ANY
LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS COMMITMENT LETTER SHALL BE BROUGHT EXCLUSIVELY IN THE BANKRUPTCY COURT AND, IF THE BANKRUPTCY COURT DOES NOT HAVE (OR ABSTAINS FROM) JURISDICTION, THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW
YORK COUNTY OR OF THE UNITED STATES OF AMERICA FOR THE SOUTHERN DISTRICT OF NEW YORK, AND, BY EXECUTION AND DELIVERY OF THIS COMMITMENT LETTER, EACH PARTY HEREBY ACCEPTS FOR ITSELF AND (TO THE EXTENT PERMITTED BY LAW) IN RESPECT OF ITS PROPERTY,
GENERALLY AND UNCONDITIONALLY, THE EXCLUSIVE JURISDICTION OF THE AFORESAID COURTS; PROVIDED THAT NOTHING IN THIS COMMITMENT LETTER SHALL BE DEEMED OR OPERATE TO PRECLUDE ANY PARTY FROM BRINGING ANY LEGAL ACTION OR PROCEEDING IN ANY
JURISDICTION FOR THE RECOGNITION AND ENFORCEMENT OF ANY JUDGMENT. EACH PARTY HEREBY AGREES THAT A FINAL JUDGMENT IN ANY SUCH LEGAL ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY
OTHER MANNER PROVIDED BY LAW. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY OBJECTION, INCLUDING, WITHOUT LIMITATION, ANY OBJECTION TO THE LAYING OF VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS, WHICH IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING
OF ANY SUCH ACTION OR PROCEEDING IN SUCH RESPECTIVE JURISDICTIONS. 
 8.        Waiver of
Jury Trial. 
 EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES THE RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING, CLAIM OR
COUNTERCLAIM BROUGHT BY OR ON BEHALF OF ANY PARTY RELATED TO OR ARISING OUT OF THIS COMMITMENT LETTER OR THE PERFORMANCE OF AGREEMENTS HEREUNDER. 

9.        Confidentiality. 

Each of the DIP Commitment Parties agrees to maintain the confidentiality of the Confidential Information (as defined below), except
that Confidential Information may be disclosed: 

  
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	 	a.	 to any Related Party of any DIP Commitment Party (it being understood that the persons to whom such disclosure is made
will be informed of the confidential nature of such Information and instructed to keep such Information confidential); 

  

	 	b.	 to the extent requested by any regulatory authority; 

 

	 	c.	 to the extent required by applicable laws or regulations or by any subpoena or similar legal process;

  

	 	d.	 to any other party to this Commitment Letter; 

 

	 	e.	 in connection with the exercise of any remedies hereunder or any suit, action or proceeding relating to this
Commitment Letter or the enforcement of rights hereunder or thereunder; 

  

	 	f.	 subject to an agreement containing provisions substantially the same as those of this Section 9, to any assignee
or any prospective assignee of any of its rights or obligations under this Commitment Letter; 

  

	 	g.	 with the consent of the DIP Borrowers; 

 

	 	h.	 to the extent such Information (i) becomes publicly available other than as a result of a breach of this
Section 9 or (ii) was or becomes available to such DIP Commitment Party on a nonconfidential basis from a source other than the DIP Borrowers; and 

  

	 	i.	 to the extent that independently developed by any Commitment Party or Related Party thereof. 

For the purposes of this Section 9, “Confidential Information” means all information received
from the DIP Borrowers or any subsidiary thereof relating to the DIP Borrowers or any subsidiary thereof and their businesses, other than any such information that is available to such DIP Commitment Party on a nonconfidential basis prior to
disclosure by the DIP Borrowers or a subsidiary thereof. Any person required to maintain the confidentiality of Information as provided in this Section 9 shall be considered to have complied with its obligation to do so if such person has
exercised the same degree of care to maintain the confidentiality of such Information as such person would accord to its own confidential information. 

This Commitment Letter and the contents hereof are confidential and, except for disclosure hereof on a confidential basis to your
Related Parties (it being understood that the persons to whom such disclosure is made will be informed of the confidential nature of such information and instructed to keep such information confidential), may not be disclosed by you in whole or in
part to any person or entity without our prior written consent; provided, however, it is understood and agreed that you may disclose this Commitment Letter: 
  

	 	a.	 to the extent requested by any regulatory authority (in which case, to the extent practicable and not prohibited by
law, you agree to promptly inform us of any such disclosure); 

  

	 	b.	 to the extent required by applicable laws or regulations or by any subpoena or similar legal process (in which case,
to the extent practicable and not prohibited by law, you agree to promptly inform us of any such disclosure); 

  

	 	c.	 to any other party to this Commitment Letter; 

  
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	 	d.	 in connection with the exercise of any remedies hereunder or any suit, action or proceeding relating to this
Commitment Letter or the enforcement of rights hereunder or thereunder; or 

  

	 	e.	 after your acceptance of this Commitment Letter, in filings with the Securities and Exchange Commission and other
applicable regulatory authorities and stock exchanges. 

 Notwithstanding anything to the contrary in the foregoing,
you shall be permitted to publicly disclose this Commitment Letter to the extent necessary to obtain approval of the United States Bankruptcy Court for the Southern District of Texas for the DIP Facilities. This section shall terminate on the first
anniversary of the date hereof. 
 10.        Surviving Provisions. 

The indemnification, confidentiality, jurisdiction, absence of fiduciary relationship, governing law waiver of jury trial and
reimbursement provisions contained herein shall remain in full force and effect regardless of whether definitive financing documentation shall be executed and delivered and notwithstanding the termination of this Commitment Letter or the DIP
Commitment hereunder and our agreements described herein; provided that your obligations under this Commitment Letter shall automatically terminate and be superseded by the definitive credit agreement for the DIP Facility to the extent
covered thereby upon the initial funding thereunder. 
 11.        PATRIOT Act
Notification. 
 We hereby notify you that pursuant to the requirements of the USA PATRIOT Act, Title III of Pub. L. 107-56 (the “Patriot Act”) and the Customer Due Diligence Requirements for Financial Institutions issued by the U.S. Department of Treasury Financing Crimes Enforcement Network under the Bank
Secrecy Act (such rule published May 11, 2016 and effective May 11, 2018, as amended from time to time), each of them is required to obtain, verify and record information that identifies you and a certification regarding beneficial
ownership required by 31 C.F.R. 1010.230, which information includes the name and address of such person and other information that will allow the DIP Commitment Parties to identify such person in accordance with the Patriot Act and other applicable
“know your customer” and anti-money laundering rules and regulations. This notice is given in accordance with the requirements of the Patriot Act and is effective as to each DIP Commitment Party. 

12.        Acceptance and Termination. 

If the foregoing correctly sets forth our agreement with you, please indicate your acceptance of the terms of this Commitment Letter by
returning to us executed counterparts hereof not later than 11:59 p.m., New York time, on [●], 2020. The DIP Commitment and the DIP Commitment Parties’ agreements described herein, will
expire automatically and without further action or notice and without further obligation to you at such time in the event that we have not received such executed counterparts in accordance with the immediately preceding sentence. In the event that
the definitive credit agreement for the DIP Facility is not executed on or before 11:59 p.m., New York time, on [●], 2020, then this Commitment Letter and the DIP Commitments hereunder, and our
agreements described herein, shall automatically terminate without further action or notice and without further obligation to you unless each of us shall, in our discretion, agree to an extension. 

[Remainder of this page intentionally left blank] 

  
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 We are pleased to have been given the opportunity to assist you in connection with the
financings. 
  

			
	 Very truly yours,

	
	 [DIP Commitment Parties]

		
	 By:
	 	  

		 	 Name:
 Title:

  
 Signature Page to Commitment
Letter 

					
	 Accepted and agreed to as of
 the date first above
written:

	
	HORNBECK OFFSHORE SERVICES, INC.
		
	By:	 	/s/ James O. Harp, Jr.
		 	Name:	 	 James O. Harp, Jr.

		 	Title:	 	 Executive Vice President and Chief Financial Officer

	
	HORNBECK OFFSHORE SERVICES, LLC
		
	By:	 	/s/ James O. Harp, Jr.
		 	Name:	 	 James O. Harp, Jr.

		 	Title:	 	 Executive Vice President and Chief Financial Officer

  
 Signature Page to Commitment
Letter 

 EXHIBIT A 

Commitments 
 [Schedule of DIP
Commitments on file with the advisors of certain DIP Commitment Parties.] 

 EXHIBIT B 

Draft DIP Credit Agreement 
 [To be
filed separately]Document

Exhibit 10.1

SECURITIES PURCHASE AGREEMENT
This Securities Purchase Agreement (this “Agreement”) is entered into as of May 14, 2020 (the “Effective Date”), by and between Cardiff Oncology, Inc., a Delaware corporation (the “Company”), and the subscriber identified on the signature pages hereto (the “Subscriber”).

WHEREAS:
The Company desires to issue and sell to each Subscriber, and each Subscriber, severally and not jointly, desires to purchase from the Company, such number of shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock” or the “Securities”) as set forth on the signature page to this Agreement.
NOW, THEREFORE, for and in consideration of the premises and the mutual covenants hereinafter set forth, the parties hereto do hereby agree as follows:

SUBSCRIPTION
1.1 Subject to the terms and conditions hereinafter set forth, the Subscriber hereby agrees to purchase the Common Stock from the Company, and the Company agrees to issue the Common Stock to Subscriber, at a price of $1.43 per share (the “Purchase Price”).
1.2 Promptly following the execution of this Agreement, the Company will deliver to the Subscriber fully executed stock certificates representing the Common Stock.

REPRESENTATIONS AND WARRANTIES BY SUBSCRIBER
2.1 Subscriber hereby acknowledges, represents and warrants to the Company the following:
 
(A) Subscriber acknowledges that the purchase of the Securities involves a high degree of risk in that the Company may require substantial additional funds;
(B) Subscriber recognizes that acquiring the Securities of the Company is highly speculative and only investors who can afford the loss of their entire investment should consider investing in the Company and the Securities;
(C) Subscriber has such knowledge and experience in finance, securities, investments, including investment in unregistered securities, and other business matters so as to be able to protect its interests in connection with this transaction;
(D) The Subscriber is an “accredited investor” as defined in Rule 501 of Regulation D promulgated under the Securities Act of 1933, as amended (the “Securities Act”);
(E) Subscriber acknowledges that the market for shares of the Common Stock may be illiquid and, accordingly, Subscriber may not be able to liquidate the Common Shares;
(F) Subscriber acknowledges that the market for shares of the Common Stock may be illiquid;

(G) Subscriber acknowledges that the Securities are subject to significant restrictions on transfer as imposed by state and federal securities laws, including but not limited to a minimum holding period of at least six (6) months pursuant to Rule 144 under the Securities Act;
(H) Subscriber hereby acknowledges (i) that this offering of Securities has not been reviewed by the United States Securities and Exchange Commission or by the securities regulator of any state; (ii) that the Securities are being issued by the Company pursuant to an exemption from registration provided by Section 4(a)(2) of the Securities Act; and (iii) that any certificate evidencing the Securities received by Subscriber will bear a legend in substantially the following form:
THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ACQUIRED FOR INVESTMENT AND HAVE NOT BEEN REGISTERED WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR UNDER ANY APPLICABLE STATE SECURITIES LAWS. WITHOUT SUCH REGISTRATION, SUCH SECURITIES MAY NOT BE SOLD OR OTHERWISE TRANSFERRED AT ANY TIME WHATSOEVER UNLESS IN THE OPINION OF COUNSEL SATISFACTORY TO THE COMPANY REGISTRATION IS NOT REQUIRED FOR SUCH TRANSFER AND THAT SUCH TRANSFER WILL NOT BE IN VIOLATION OF THE APPLICABLE FEDERAL AND STATE SECURITIES LAWS OR ANY RULE OR REGULATION PROMULGATED THEREUNDER.
(I) Subscriber is acquiring the Securities as principal for Subscriber’s own benefit and not with a view to distribution, on behalf of the Company or otherwise, of the Securities;
(J) Subscriber is not aware of any general advertisement of the Securities or any general solicitation in connection with any offering of the Securities;
 
(K) Subscriber acknowledges that they have had an opportunity to seek the advice and consultation of independent investment, legal and tax counsel; and
(L) Subscriber acknowledges and agrees that the Company has previously made available to Subscriber the opportunity to ask questions of and to receive answers from representatives of the Company concerning the Company and the Securities, as well as to conduct whatever due diligence the Subscriber, in its discretion, deems advisable. Subscriber is not relying on any information communicated by any representatives of the Company and is relying solely upon information obtained during Subscriber’s due diligence investigation in making a decision to invest in the Securities and the Company.

REPRESENTATIONS BY THE COMPANY
3.1 The Company represents and warrants to the Subscriber that:
(A) The Company is a corporation duly organized, existing and in good standing under the laws of the State of Delaware and has the corporate power to conduct the business which it conducts and proposes to conduct.
									
			
			

2

(B) Upon issuance, the shares of Common Stock will be duly and validly issued, fully paid and non-assessable and will be issued in compliance with all applicable state and federal laws concerning the issuance of securities.
(C) Material Contracts. Except as disclosed in any report, schedule, form, statement or other document (the “SEC Reports”) filed by the Company under the Securities Act and the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and except for the agreements explicitly contemplated hereby, there are no agreements, understandings, instruments, contracts, proposed transactions, judgments, orders, writs or decrees to which the Company is a party or by which it is bound which may involve (i) obligations of, or payments to, the Company in excess of $250,000 (other than obligations of, or payments to, the Company arising from purchase or sale agreements entered into in the ordinary course of business), or (ii) the license of any patent, copyright, trade secret or other proprietary right to or from the Company or (iii) the grant of rights to manufacture, produce, assemble, license, market or sell the Company’s products or affect the Company’s exclusive right to develop, manufacture, assemble, distribute, market or sell its products (each, a “Material Contract”, collectively the “Material Contracts”). All of the Material Contracts are valid, binding and in full force and effect in all material respects, subject to laws of general application relating to bankruptcy, insolvency and the relief of debtors and rules of law governing specific performance, injunctive relief or other equitable remedies and to general principles of equity. Neither the Company is nor is any other party to the Material Contracts in material default under any of such Material Contracts.
 
(D) Intellectual Property.
(a) Ownership. Except as disclosed in the SEC Reports, to the knowledge of the Company (without having conducted any special investigation or patent search), the Company owns or possesses or can obtain on commercially reasonable terms sufficient legal rights to all patents, trademarks, service marks, trade names, copyrights, trade secrets, licenses, information, processes and similar proprietary rights (“Intellectual Property”) necessary to the business of the Company as presently conducted, the lack of which could reasonably be expected to have (i) a material adverse effect on the legality, validity or enforceability of this Agreement, (ii) a material adverse effect on the results of operations, assets, business, prospects or condition (financial or otherwise) of the Company or (iii) a material adverse effect on the Company’s ability to perform in any material respect on a timely basis its obligations under this Agreement (any of (i), (ii) or (iii), a “Material Adverse Effect”). The Company has not received any written communication alleging that the Company has violated or, by conducting its business as currently conducted, would violate any of the Intellectual Property of any other person or entity , nor is the Company aware of any basis therefor.
(b) No Breach by Employees. Except as disclosed in the SEC Reports, the Company is not aware that any of its employees is obligated under any contract or other agreement, or subject to any judgment, decree or order of any court or administrative agency, that would materially interfere with the use of his or her efforts to promote the interests of the Company or that would conflict with the Company’s business as presently conducted. Neither the execution nor delivery of this Agreement, nor the carrying on of the Company’s business by the employees of the Company, nor the conduct of the Company’s business as presently 
									
			
			

3

conducted, will, to the Company’s knowledge, conflict with or result in a breach of the terms, conditions or provisions of, or constitute a default under, any contract, covenant or instrument under which any of such employees is now obligated. The Company does not believe it is or will be necessary to use any inventions of any of its employees made prior to their employment by the Company.
(E) Title to Properties and Assets; Liens. Except as disclosed in the SEC Reports, to the knowledge of the Company, the Company has good and marketable title to its properties and assets, and has good title to all its leasehold interests, in each case subject to no material mortgage, pledge, lien, lease, encumbrance or charge, other than (i) liens for current taxes not yet due and payable, (ii) liens imposed by law and incurred in the ordinary course of business for obligations not past due, (iii) liens in respect of pledges or deposits under workers’ compensation laws or similar legislation, and (iv) liens, encumbrances and defects in title which do not in any case materially detract from the value of the property subject thereto or have a Material Adverse Effect, and which have not arisen otherwise than in the ordinary course of business. With respect to the property and assets it leases, the Company is in compliance with such leases in all material respects and, to its knowledge, holds a valid leasehold interest free of any liens, claims or encumbrances, subject to clauses (i)-(iv) above.
(F) Compliance with Other Instruments. The Company is not in violation of any material term of its Certificate of Incorporation or bylaws, each as amended to date, or, to the Company’s knowledge, in any material respect of any term or provision of any material mortgage, indebtedness, indenture, contract, agreement, instrument, judgment, order or decree to which it is party or by which it is bound which would have a Material Adverse Effect. To the Company’s knowledge, the Company is not in violation of any federal or state statute, rule or regulation applicable to the Company the violation of which would have a Material Adverse Effect. The execution and delivery of the Agreement by the Company, the performance by the Company of its obligations pursuant to the Agreement, and the issuance of the Securities will not result in any material violation of, or materially conflict with, or constitute a material default under, the Company’s Certificate of Incorporation or bylaws, each as amended to date, or any of its agreements, nor, to the Company’s knowledge, result in the creation of any material mortgage, pledge, lien, encumbrance or charge upon any of the properties or assets of the Company.
(G) Litigation. Except as disclosed in the SEC Reports, there are no actions, suits, proceedings or investigations pending against the Company or its properties (nor has the Company received notice of any threat thereof) before any court or governmental agency. The Company is not a party or subject to the provisions of any order, writ, injunction, judgment or decree of any court or government agency or instrumentality. There is no action, suit or proceeding initiated by the Company currently pending.
(H) Permits. The Company has all franchises, permits, licenses, and any similar authority necessary for the conduct of its business as now being conducted by it, the lack of which would have a Material Adverse Effect, and believes it can obtain, without undue burden or expense, any similar authority for the conduct of its business as presently planned to be conducted. The Company is not in default in any material respect under any of such franchises, permits, licenses or other similar authority.
									
			
			

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(I) Offering. Subject to the accuracy of the Subscriber’s representations and warranties, the offer, sale and issuance of the Securities to be issued in conformity with the terms of this Agreement constitute transactions exempt from the registration requirements of the Securities Act and, except for such notice requirements as may arise under applicable state law, from the registration or qualification requirements of applicable state securities laws, and neither the Company nor any authorized agent acting on its behalf will take any action hereafter that would cause the loss of such exemption.
(J) Tax Returns and Payments. The Company has timely filed all tax returns required to be filed by it with appropriate federal, state and local governmental agencies, except where the failure to do so would not have a Material Adverse Effect. These returns and reports are true and correct in all material respects. All taxes shown to be due and payable on such returns, any assessments imposed, and, to the Company’s knowledge, all other taxes due and payable by the Company have been paid or will be paid prior to the time they become delinquent. The Company has not been advised in writing (i) that any of its returns have been or are being audited as of the date hereof, or (ii) of any deficiency in assessment or proposed judgment with respect to its federal, state or local taxes.
 
CONDITIONS TO SUBSCRIBER’S OBLIGATION TO CLOSE
4.1 The Subscriber’s obligation to acquire the Securities upon the execution of this Agreement is subject to the fulfillment, on or before the date hereof, of each of the following conditions, unless waived by the Subscriber:
(A) Representations and Warranties. The representations and warranties made by the Company in this Agreement shall be true and correct in all material respects as of the date hereof.
(B) Covenants. The Company shall have performed or complied with all covenants, agreements and conditions contained in this Agreement to be performed or complied with by the Company on or prior to the date hereof.
(C) Blue Sky. The Company shall have obtained all necessary Blue Sky law permits and qualifications, or have the availability of exemptions therefrom, required by any state for the offer and sale of the Securities, as applicable.
(D) Consents and Waivers . The Company and the Subscriber shall have obtained any and all consents, permits and waivers necessary or appropriate for consummation of the transactions contemplated by the Agreements.
(E) Proceedings and Documents. All corporate and other proceedings required to carry out the transactions contemplated by this Agreement, and all instruments and other documents relating to such transactions, shall be reasonably satisfactory in form and substance to the Company, and the Company shall have been furnished with such instruments and documents as it shall have reasonably requested.

CONDITIONS TO COMPANY’S OBLIGATION TO CLOSE
									
			
			

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5.1 The Company’s obligation to sell and issue the Securities is subject to the fulfillment on or before the date hereof of the following conditions, unless waived by the Company:
(A) Representations and Warranties. The representations and warranties made by the Subscriber in this Agreement shall be true and correct in all material respects when made and shall be true and correct as of the date of hereof.
(B) Covenants. The Subscriber shall have performed or complied with all covenants, agreements and conditions contained in the Agreements to be performed or complied with by the Subscriber on or prior to the date hereof in all material respects.
(C) Compliance with Securities Laws. The Company shall be satisfied that the offer and sale of the Securities shall be qualified or exempt from registration or qualification under all applicable federal and state securities laws (including receipt by the Company of all necessary blue sky law permits and qualifications required by any state, if any).
(D) Consents and Waivers. The Company and the Subscriber shall have obtained any and all consents, permits and waivers necessary or appropriate for consummation of the transactions contemplated by the Agreement.
(E) Proceedings and Documents. All corporate and other proceedings required to carry out the transactions contemplated by this Agreement, and all instruments and other documents relating to such transactions, shall be reasonably satisfactory in form and substance to the Company, and the Company shall have been furnished with such instruments and documents as it shall have reasonably requested.

REGISTRATION
6.1 The Company shall use commercially reasonable efforts to file with the SEC a registration statement on Form S-1, S-3 or any other appropriate form in the sole discretion of the Company (the “Registration Statement”) within 30 days following the closing of this offering, registering for resale, on a continuous or delayed basis in accordance with Securities Act Rule 415(a)(i), the Securities issued to the Subscriber, and the Company shall use its commercially reasonable efforts to cause the Registration Statement to become effective within 45 days following the closing of this offering (not including any days in which any SEC employees have been furloughed) as promptly as practicable following the date the Registration Statement is initially filed with the SEC. The Company shall cause the Registration Statement to remain effective through and until such time as the Securities may be available for resale by the Subscriber pursuant to Rule 144 or its other subsections (or any successor thereto) under the Securities Act. The Company shall bear the expenses incurred in connection with the filing of the Registration Statement and all reasonable costs associated with the resale of the Securities (pursuant to the Registration Statement or otherwise).

MISCELLANEOUS
7.1 Amendment. Except as expressly provided herein, neither this Agreement nor any term hereof may be amended, waived, discharged or terminated other than by a written instrument referencing this Agreement and signed by the Company and the Subscriber.
									
			
			

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7.2 Notices. All notices and other communications required or permitted hereunder shall be in writing and shall be mailed by registered or certified mail, postage prepaid or otherwise delivered by hand, messenger or courier service addressed:
(A) if to Subscriber, to the Subscriber’s address as shown in the Company’s records, as may be updated in accordance with the provisions hereof; or
 
(B) if to the Company, to the attention of the President or Chief Executive Officer of the Company at 11055 Flintkote Ave., San Diego, California 92121, or at such other current address as the Company shall have furnished to the Investors.
Each such notice or other communication shall for all purposes of this Agreement be treated as effective or having been given (i) if delivered by hand, messenger or courier service, when delivered (or if sent via a nationally-recognized overnight courier service, freight prepaid, specifying next-business-day delivery, one business day after deposit with the courier), or (ii) if sent via mail, at the earlier of its receipt or five days after the same has been deposited in a regularly-maintained receptacle for the deposit of the United States mail, addressed and mailed as aforesaid.
7.3 Expenses. The Company and the Subscriber shall each pay their own expenses in connection with the transactions contemplated by this Agreement.
7.4 Survival. The representations, warranties, covenants and agreements made in this Agreement shall survive any investigation made by any party hereto and the closing of the transaction contemplated hereby for one (1) year from the date hereof.
7.5 Entire Agreement. This Agreement, including the exhibits attached hereto, constitute the full and entire understanding and agreement between the parties with regard to the subjects hereof and thereof. No party shall be liable or bound to any other party in any manner with regard to the subjects hereof or thereof by any warranties, representations or covenants except as specifically set forth herein or therein.
7.6 Delays or Omissions. Except as expressly provided herein, no delay or omission to exercise any right, power or remedy accruing to any party to this Agreement upon any breach or default of any other party under this Agreement shall impair any such right, power or remedy of such non-defaulting party, nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in any similar breach or default thereafter occurring, nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. Any waiver, permit, consent or approval of any kind or character on the part of any party of any breach or default under this Agreement, or any waiver on the part of any party of any provisions or conditions of this Agreement, must be in writing and shall be effective only to the extent specifically set forth in such writing. All remedies, either under this Agreement or by law or otherwise afforded to any party to this Agreement, shall be cumulative and not alternative.
7.7 Successors and Assigns. The provisions of this Agreement shall inure to the benefit of, and be binding upon, the successors, assigns, heirs, executors and administrators of the parties hereto.
									
			
			

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7.8 California Corporate Securities Law. THE SALE OF THE SECURITIES THAT ARE THE SUBJECT OF THIS AGREEMENT HAS NOT BEEN QUALIFIED WITH THE COMMISSIONER OF CORPORATIONS OF THE STATE OF CALIFORNIA AND THE ISSUANCE OF SUCH SECURITIES OR THE PAYMENT OR RECEIPT OF ANY PART OF THE CONSIDERATION THEREFOR PRIOR TO SUCH QUALIFICATION IS UNLAWFUL, UNLESS THE SALE OF SECURITIES IS EXEMPT FROM QUALIFICATION BY SECTION 25100, 25102, OR 25105 OF THE CALIFORNIA CORPORATIONS CODE. THE RIGHTS OF ALL PARTIES TO THIS AGREEMENT ARE EXPRESSLY CONDITIONED UPON THE QUALIFICATION BEING OBTAINED, UNLESS THE SALE IS SO EXEMPT.
 
7.9 Severability. If any provision of this Agreement becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, portions of such provision, or such provision in its entirety, to the extent necessary, shall be severed from this Agreement, and such court will replace such illegal, void or unenforceable provision of this Agreement with a valid and enforceable provision that will achieve, to the extent possible, the same economic, business and other purposes of the illegal, void or unenforceable provision. The balance of this Agreement shall be enforceable in accordance with its terms.
7.10 Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be enforceable against the parties actually executing such counterparts, and all of which together shall constitute one instrument.
7.11 Telecopy Execution and Delivery. A facsimile, telecopy or other reproduction of this Agreement may be executed by one or more parties hereto and delivered by such party by facsimile or any similar electronic transmission device pursuant to which the signature of or on behalf of such party can be seen. Such execution and delivery shall be considered valid, binding and effective for all purposes. At the request of any party hereto, all parties hereto agree to execute and deliver an original of this Agreement as well as any facsimile, telecopy or other reproduction hereof.
7.12 Further Assurances. Each party hereto agrees to execute and deliver, by the proper exercise of its corporate, limited liability company, partnership or other powers, all such other and additional instruments and documents and do all such other acts and things as may be necessary to more fully effectuate this Agreement.
7.13 Attorneys’ Fees. In the event that any suit or action is instituted to enforce any provisions in this Agreement, the prevailing party in such dispute shall be entitled to recover from the losing party all fees, costs and expenses of appeals.
7.14 Governing Law; Venue. The terms and provisions hereof shall be construed in accordance with and governed by the laws of the State of California. Each party agrees that all legal proceedings concerning the interpretations, enforcement and defense of the transactions contemplated by this Agreement (whether brought against a party hereto or its respective affiliates, directors, officers, shareholders, employees or agents) shall be commenced exclusively in the state and federal courts sitting in the State of California, County of San Diego.  Each party hereby irrevocably submits to the exclusive jurisdiction of such courts.  
									
			
			

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7.15 Obligation of Company. The Company agrees to use its reasonable efforts to enforce the terms of this Agreement, to inform the Subscriber of any breach hereof (to the extent the Company has knowledge thereof) and to assist the Subscriber in the exercise of its rights and the performance of its obligations hereunder.
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CARDIFF ONCOLOGY, INC.
ACCREDITED INVESTOR CERTIFICATION
For Individual Investors Only

(all Individual Investors must INITIAL where appropriate):

Initial _______  I have a net worth of at least US$1 million either individually or through aggregating my individual holdings and those in which I have a joint, community property or other similar shared ownership interest with my spouse. (For purposes of calculating your net worth under this paragraph, (a) your primary residence shall not be included as an asset; (b) indebtedness secured by your primary residence, up to the estimated fair market value of your primary residence at the time of your purchase of the securities, shall not be included as a liability (except that if the amount of such indebtedness outstanding at the time of your purchase of the securities exceeds the amount outstanding 60 days before such time, other than as a result of the acquisition of your primary residence, the amount of such excess shall be included as a liability); and (c) indebtedness that is secured by your primary residence in excess of the estimated fair market value of your primary residence at the time of your purchase of the securities shall be included as a liability.)

Initial _______ I have had an annual gross income for the past two years of at least US$200,000 (or US$300,000 jointly with my spouse) and expect my income (or joint income, as appropriate) to reach the same level in the current year.

Initial _______    I am a director or executive officer of Cardiff Oncology, Inc.

For Non-Individual Investors (Entities)
(all Non-Individual Investors must INITIAL where appropriate):

Initial _______ The investor certifies that it is a partnership, corporation, limited liability company or business trust that is 100% owned by persons who meet at least one of the criteria for Individual Investors set forth above (in which case each such person must complete the Accreditor Investor Certification for Individuals above as well the remainder of this questionnaire).
 
Initial _______ The investor certifies that it is a partnership, corporation, limited liability company or business trust that has total assets of at least US$5 million and was not formed for the purpose of investing in the Company.

Initial _______ The investor certifies that it is an employee benefit plan whose investment decision is made by a plan fiduciary (as defined in ERISA §3(21)) that is a bank, savings and loan association, insurance company or registered investment advisor.
									
			
			

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Initial _______ The investor certifies that it is an employee benefit plan whose total assets exceed US$5,000,000 as of the date of this Agreement.

Initial _______ The undersigned certifies that it is a self-directed employee benefit plan whose investment decisions are made solely by persons who meet at least one of the criteria for Individual Investors.

Initial _______ The investor certifies that it is a U.S. bank, U.S. savings and loan association or other similar U.S. institution acting in its individual or fiduciary capacity.

Initial _______ The undersigned certifies that it is a broker-dealer registered pursuant to §15 of the Securities Exchange Act of 1934.

Initial _______ The investor certifies that it is an organization described in §501(c)(3) of the Internal Revenue Code with total assets exceeding US$5,000,000 and not formed for the specific purpose of investing in the Company.

Initial _______ The investor certifies that it is a trust with total assets of at least US$5,000,000, not formed for the specific purpose of investing in the Company, and whose purchase is directed by a person with such knowledge and experience in financial and business matters that such person is capable of evaluating the merits and risks of the prospective investment. 

Initial _______ The investor certifies that it is a plan established and maintained by a state or its political subdivisions, or any agency or instrumentality thereof, for the benefit of its employees, and which has total assets in excess of US$5,000,000.

Initial _______ The investor certifies that it is an insurance company as defined in §2(13) of the Securities Act of 1933, or a registered investment company.

Initial _______ The investor certifies that it is an investment company registered under the Investment Company Act of 1940,  a business development company as defined in section 2(a)(48) of the Securities Act of 1933, as amended or a Small Business Investment Company licensed by the U.S. Small Business Administration Under section 301(c) or (d) of the Small Business Investment Act of 1985.

IN WITNESS WHEREOF, this Securities Purchase Agreement is executed as of the Effective Date.
 
									
			
			

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	Number of shares of Common Stock Subscribed For:	  	
	Total Purchase Price:	  	$
	Signature of Authorized Signatory:	  	
	Name of Authorized Signatory:	  	
	Title of Authorized Signatory:	  	
	Name of Subscriber:	  	
	Address of Subscriber:	  	
	Subscriber’s tax ID#:	  	
	Subscriber’s Email Address:	  	
			
	ACCEPTED BY:	  	
			
	CARDIFF ONCOLOGY, INC.,
a Delaware corporation
	  	
			
	Signature of Authorized Signatory:	  	                                                                         
			
	Name of Authorized Signatory:	  	                                                                         
			
	Title of Authorized Signatory:	  	                                                                         

 

									
			
			

12

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