Document:

EX-10.1

 Exhibit 10.1 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETED ASTERISKS [***], HAS BEEN OMITTED AND FILED SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

SUPPLY AGREEMENT 
 THIS
SUPPLY AGREEMENT (“Agreement”) is entered into as of this 15th day of May, 2013 (the “Effective Date”) by and between Integra LifeSciences Corporation (“Integra”), a Delaware corporation with offices at 311
Enterprise Drive, Plainsboro, New Jersey 08536, and PcoMed, LLC (“PcoMed”), a Colorado limited liability company with offices at 105 S. Sunset Street, Longmont, Colorado 80501. 

RECITALS: 

WHEREAS, Integra is a medical device company that is developing and commercializing implantable spinal medical devices and procedures
in the field of spinal surgery; 
 WHEREAS, PcoMed has experience and expertise in the surface modification of medical device
materials; 
 WHEREAS, Integra desires to engage PcoMed to apply certain of its surface technologies onto Integra’s implantable
spinal medical devices for preclinical, clinical and commercial use and distribution by Integra; and 
 WHEREAS, PcoMed is willing to
apply such surface technologies onto Integra’s implantable spinal medical devices and to grant Integra certain exclusive rights to use and commercialize those devices; and 

NOW, THEREFORE, in consideration of the mutual covenants and promises herein contained, the parties hereto agree as follows: 

 

	1.	 DEFINITIONS. 

As used in this Agreement, the following initially capitalized terms, whether used in the singular or plural form, shall have the meanings set
forth in this Section 1. 
 1.1.    “Affiliate” means any
corporation, limited liability company, person or entity that directly or indirectly controls, is controlled by, or is under common control with, a party to this Agreement. For purposes of this Section 1.1, the term “control” (with a
correlative meaning for “controlled by”) means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of the subject corporation, person or entity, whether through the ownership
of voting securities, by contract or otherwise. 
 1.2.    “***
Run” means a single production run of PcoMed’s *** to apply the PcoMed Surface Modification Technology to Integra Products. 

1.3.    “*** Run Fee” means the fee for a single *** Run. The *** Run
Fee is exclusive of potential fees for any surface preparation requirements currently performed prior to PcoMed’s receipt of Integra Product. 

1.4.    “Confidential Disclosure Agreements” means all Mutual Non-Disclosure Agreements previously or hereafter entered into by certain Integra Affiliates and PcoMed. 

  
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	***	 Portions of this page have been omitted pursuant to a request for Confidential Treatment filed separately with
the Commission. 

 1.5.    “Confidential
Information” means, whether disclosed in oral, written, graphic, electronic form, or other form, and whether developed by the disclosing party or by others, any confidential, non-public,
proprietary information of Integra or PcoMed that is designated by the disclosing party as confidential or secret or that should reasonably be assumed by the receiving party to be confidential or secret. Confidential Information includes, without
limitation: 
  

	 	(i)	 specifications, know-how, trade secrets, designs, technical
information, drawings, sketches, engineering drawings, work of authorship, software, prototypes, samples, models, business information, marketing information, current products and services, future products and services, proposed products and
services, inventions, discoveries, devices, apparatus, equipment, algorithms, business methods, plans, assays, methods, procedures, processes, formulae, protocols, techniques, data, research and development data, experimental work, clinical data,
engineering data, manufacturing data, technical or non-technical information, ideas, media, and unpublished patent applications; 

 

	 	(ii)	 personnel and financial information, product cost information, contractual relationships, operational and
procedural manuals; 

  

	 	(iii)	 information or data regarding product research and development, including technical, engineering, or production
data, test data, or results, information concerning a disclosing party’s efforts to acquire, protect, and license proprietary rights, 

  

	 	(iv)	 a disclosing party’s price, cost and fee data, pricing and billing policies, forecasts, plans, procurement
requirements, and strategies for all aspects of the disclosing party’s operations, marketing, and sales, whether or not in effect; and 

  

	 	(v)	 data relating to the type, quality, specifications, and price of the disclosing party’s products and/or
services received or provided by any customer or vendor. 

1.6.    “Derive” and cognates thereof means to develop, make, invent,
discover, create, synthesize, conceive, reduce to practice, design or result from, to be based upon or to otherwise generate (whether directly or indirectly, or in whole or in part). 

1.7.     “FDA” means the United States Food and Drug Administration,
or any successor thereto, having the administrative authority to regulate the marketing of pharmaceutical products, biological therapeutic product, delivery systems, and medical devices in the United States. 

1.8.    “Field” means spinal interbody and/or intervertebral surgical
methods and procedures, including without limitation, interbody and/or intervertebral fusion and/or spacer procedures and interbody and/or intervertebral spinal arthroplasty procedures. 

1.9.     “First Product Order” means the first purchase order issued
by Integra to PcoMed for the production of salable Treated Integra Product or Partially Treated Integra Product. 

1.10.    “Integra Customers” means Third Parties who purchase Treated
Integra Products and Partially Treated Integra Products from Integra or its Affiliates and does not include any Integra Affiliates.“Integra Products” means any implantable spinal surgery interbody and/or
intervertebral medical device designed and/or manufactured by or for Integra. 

  
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 1.11.    “Integra Regulatory
Data” means Integra information associated with regulatory procedures relating to Treated Integra Product and/or Partially Treated Integra Product, including bench and animal data, submission data and methodologies, responses of
Regulatory Authorities to submissions, information pertaining to such submissions, and additional data generated as required for US Marketing Clearance, EU Marketing Clearance or commercial launch of any Treated Integra Product or Partially Treated
Integra Product. 
 1.12.    “Integra Technology” means any
technology owned, licensed or controlled by Integra and/or any Integra Affiliates including but not limited to SeaSpine and Theken Spine as of the Effective Date and all technology Derived solely by Integra and/or Integra Affiliates during or after
the Term, including but not limited to the devices described in U. S. Patent Numbers 7,799,083 and 8,097,036 together with any improvements, enhancements, or extensions of or to any of the foregoing, and Intellectual Property Rights therein, but
excluding any technology or information relating to or derived from PcoMed Technology. The Integra Technology shall include all proprietary ideas in any form and embodied in any media, technical information, ideas, discoveries, knowledge, know-how, skill, experience, concepts, data, processes, procedures, methods, techniques, protocols, formulae, trade secrets, Inventions (whether or not patentable), media, research tools, compositions, software,
hardware, instruments, documents, works of authorship, formulations, and other physical, chemical or biological materials and information, including, without limitation, clinical and regulatory strategies, test data (including pharmacological,
toxicological and clinical test data), analytical and quality control data, manufacturing, patent, marketing and legal data or descriptions, apparatus, prototypes, devices, chemical formulations, compound compositions of matter, product samples,
assays and similar information and Inventions. 
 1.13.     “Intellectual Property
Rights” means any and all intellectual property and industrial design rights, whether protected, created or arising under the laws of the United States or any other foreign jurisdiction, including the following: (i) patent
rights; (ii) copyrights, mask work rights, database rights and design rights, whether or not registered, published or unpublished, and registrations and applications for registration thereof, and all rights therein whether provided by
international treaties or conventions or otherwise; (iii) trade secrets and Inventions; (iv) moral rights; and (v) other applications and registrations related to any of the rights set forth in the foregoing clauses (i) through
(iv); provided, however, that as used in this Agreement, the term “Intellectual Property” expressly excludes rights in trademarks, trade names, service marks, service names, design marks, logos, slogans, trade dress, or similar rights with
respect to indicators of origin, whether registered or unregistered, as well as rights in internet domain names, uniform resource locators and e-mail addresses. 

1.14.    “Inventions” means conceptions, ideas, innovations,
discoveries, inventions, processes, machines, formulae, formulations, biological materials, molecules, compounds, compositions, improvements, enhancements, modifications, technological developments, know-how, show-how, methods, techniques, systems, designs, production system, plans, source code, object code and documentation pertaining thereto, including, without limitation, functional specifications, object libraries,
design documentation, technical documentation, statements of principles of operations, schematics, programmers’ guides, and other documentation, data, programs and information and works of authorship, whether or not patentable, copyrightable or
susceptible to any other form of legal protection. 
 1.15.    “Minimum
Payment” means the amounts set forth on Attachment B as payable by Integra to PcoMed in each Minimum Payment Period. 

1.16.    “Minimum Payment Period” has the meaning set forth on
attached Attachment B. 

  
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the Commission. 

 1.17.    “Net
Sales” means the gross amount of all revenues invoiced and received by Integra and its Affiliates from Integra Customers from the Sale of Treated Integra Products and Partially Treated Integra Products, less the following
deductions (to the extent otherwise then or previously included in the gross amounts invoiced and in respect of which no previous deduction was taken): (i) amounts taken or accrued for sales, distributor or other commissions allowed, discounts
allowed dealers, trade and/or quantity and cash discounts; (ii) refunds, rebates, chargebacks, replacements or credits and allowances actually allowed or granted to purchasers on account of contractual obligations, rejections, returns, or
billing errors and for uncollectible amounts (except to the extent later collected) on Sales; (iii) sales, use and/or other excise taxes, import and/or export duties paid, tariffs, and any other governmental tax or charge (except income taxes)
imposed on or at the time of production, importation, use, or sale of the Treated Integra Product or Partially Treated Integra Product, including any value added taxes, and taxes on medical devices; (iv) shipping insurance costs and prepaid
transportation and/or freight charges. Net Sales shall exclude any amounts Integra or its Affiliates receive for Treated Integra Product or Partially Treated Integra Product that are used for clinical trials required or reasonably deemed to be
desirable for Regulatory Approval or additional product indications in any country. 

1.18.    “Non-Treated Integra
Product” means an Integra Product that does not utilize or embody, in whole or in part, the PcoMed Surface Modification Technology. 

1.19.    “Notice of Initial Acceptance of First Product Order” means
Integra’s acceptance of the Treated Integra Product or Partially Treated Integra Product pursuant to the First Product Order. Such acceptance shall be issued in the form of Attachment C by Integra within ten (10) business days of
receipt by Integra or its Affiliates of product (and related quality and testing documentation) meeting specifications mutually agreed upon by Integra and PcoMed. 

1.20.     “Partially Treated Integra Product” means an Integra
Product that (i) utilizes or embodies, in whole or in part, the PcoMed Surface Modification Technology and (ii) a portion of which (not including radiographic or radiopaque markers) is formed from a material other than PEEK or PAEK and
does not utilize or embody the PcoMed Surface Modification Technology. 

1.21.    “PcoMed Regulatory Data” means PcoMed information associated
with regulatory procedures relating to the PcoMed Surface Modification Technology, including bench and animal data, submission data and methodologies, responses of Regulatory Authorities to submissions, information pertaining to such submissions,
and additional data generated as required for US Marketing Clearance, EU Marketing Clearance or commercial launch of a product using or embodying the Surface Modification Technology.  

1.22.    “PcoMed Surface Modification Technology” means a proprietary
PcoMed osteoconductive commercially pure titanium    ***    molecular surface modification of PEEK (polyetheretherkeytone), PEKK (polyetherkeytonekeytone), and/or PAEK (polyaryletherkeytone) materials as
illustrated in Attachment A. 
 1.23.    “PcoMed Technology”
means any technology owned, licensed or controlled by PcoMed as of the Effective Date, including the (i) PcoMed Surface Modification Technology and (ii) coating, surface, application, surface modification and pretreatment technology and
knowhow, and all technology Derived by PcoMed during or after the Term, together with any improvements, enhancements, or extensions of or to any of the foregoing, and Intellectual Property Rights therein, but excluding any technology or information
relating solely to or Derived solely from Integra Technology. The PcoMed Technology includes all proprietary ideas in any form and embodied in any media, technical information, ideas, discoveries, knowledge,
know-how, skill, experience, 

  
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concepts, data, processes, procedures, methods, techniques, protocols, formulae, trade secrets, Inventions (whether or not patentable), media, research tools, compositions, software, hardware,
instruments, documents, works of authorship, formulations, and other physical, chemical or biological materials and information, including, without limitation, clinical and regulatory strategies, test data (including pharmacological, toxicological
and clinical test data), analytical and quality control data, manufacturing, patent, marketing and legal data or descriptions, apparatus, prototypes, devices, chemical formulations, compound compositions of matter, product samples, assays and
similar information and Inventions. 
 1.24.     “Regulatory
Approval” means, with respect to a country in the Territory, all approvals, licenses, registrations, or authorizations by an applicable Regulatory Authority necessary to import, commercialize, transport, store, market and sell
Treated Integra Product and/or Partially Treated Integra Product in such country, including labeling, pricing, or reimbursement approvals. 

1.25.    “Regulatory Authority” means the FDA in the United States,
and the equivalent regulatory authority or governmental entity having the responsibility, jurisdiction, and authority to approve the to importation, commercialization, transport, storage, marketing and sale of the Treated Integra Product or
Partially Treated Integra Product in any country or jurisdiction outside of the United States. 

1.26.    “Sale” or “Sales” or
“Sell” or “Sold” means the transfer or disposition by Integra or its Affiliates of a Treated Integra Product or a Partially Treated Integra Product for value to Integra Customers in the Territory 

1.27.     “Territory” means worldwide, during the thirty six (36) month
period following Notice of Initial Acceptance of First Product Order. Thereafter, “Territory” may exclude the People’s Republic of China (“PRC”), to the extent that Integra has had no sales of Treated Integra Products in
that country. In the event that Integra has had no such sales, PcoMed shall give sixty (60) days advance written notice of PcoMed’s intent to utilize a third party to market the PcoMed Surface Modification Technology in the PRC . 

1.28.    “Third Party” means any entity or person other than
(i) Integra and its Affiliates, or (ii) PcoMed and its Affiliates. 

1.29.    “Treated Integra Product” means an Integra Product that
utilizes or embodies, in whole or part, the PcoMed Surface Modification Technology, excluding Partially Treated Integra Product. 

1.30.    “US Marketing Clearance” means Regulatory Approval of a
Treated Integra Product or Partially Treated Integra Product for use in the Field in the United States. 
  

	2.	 CONSIDERATION. 

2.1.    Milestone Payments. 

(a)    First Payment. Integra shall pay PcoMed $***    
(    ***     US dollars) upon full execution of this Agreement. 

(b)    Second Payment. Integra shall pay PcoMed $***    
(    ***     US dollars) within 30 days after Notice of Initial Acceptance of First Product Order. Integra shall place the First Product Order within sixty (60) days of the Effective Date of this
Agreement. 

  
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the Commission. 

 2.2.    Fees. 

(a)    Treated Integra Products. Subject to Section 2.2(c), for so long as the Agreement has not been converted
to a non-exclusive arrangement under the provisions of Section 3.2, Integra shall pay PcoMed a Fee of ***% of Net Sales of all Treated Integra Product Sold by Integra or its Affiliates. Subject to
Section 2.2(c), for so long as Integra’s Rights under the Agreement have been converted to a non-exclusive arrangement under the provisions of Section 3.2, Integra shall pay PcoMed a Fee of ***%
of Net Sales of all Treated Integra Product Sold by Integra or its Affiliates. The Fee rate payable shall be determined based on whether this Agreement is exclusive or non-exclusive at the time of
Integra’s Sale of the Treated Integra Product, not at the time of PcoMed’s production of the Treated Integra Product. 

(b)    Partially Treated Integra Products. Subject to Section 2.2(c), for so long as Agreement has not been
converted to a non-exclusive arrangement pursuant to Section 3.2, Integra shall pay PcoMed a Fee of ***% of Net Sales of all Partially Treated Integra Product Sold by Integra or its Affiliates. Subject to
Section 2.2(c), for so long as Integra’s rights under the Agreement have been converted to a non-exclusive arrangement under the provisions of Section 3.2, Integra shall pay PcoMed a Fee of ***%
of Net Sales of all Partially Treated Integra Product Sold by Integra or its Affiliates. The Fee rate payable shall be determined based on whether this Agreement is exclusive or non-exclusive at the time of
Integra’s Sale of Partially Treated Integra Product, not at the time of PcoMed’s production of the Partially Treated Integra Product. 

(c)    Fee Adjustment. The Fees may be subject to reduction according to the provisions of Sections 8.5 and 10.1.
If it becomes necessary for Integra to settle a Third Party patent infringement suit covered by Section 10.1 (i), solely because of any action or omission of PcoMed or because of Third Party claims against PcoMed Surface Modification Technology
and/or such settlement involves obtaining a license from a Third Party, in order to make, have made, import, export, use, offer for Sale, or Sell a Treated Integra Product or a Partially Treated Integra Product in the Field, then Integra may offset,
dollar for dollar, against Fees up to    ***    percent (***%) of Integra’s reasonable, out-of-pocket expenses, costs, fees
(including reasonable attorneys’ fees), and other consideration related to the investigation, negotiation and settlement paid by Integra to such Third Party to obtain such settlement or license with respect to the PcoMed Surface Modification
Technology. 
 The parties agree that, to the extent Fees are reduced pursuant to this Agreement, for purposes of determining the contribution toward the
Minimum Payments, the Fee shall be counted as if it had not been reduced. 
 (d)    Payment. All Fees shall be
due and payable quarterly as provided in Section 6.1. 

2.3.    ***    Run Fees.  

(a)    For Distribution. Integra shall pay PcoMed a flat     ***     Run Fee
of $***     (***     US dollars) for each     ***     Run in which a maximum of one hundred (100) Non-Treated Integra
Product are converted by PcoMed to Treated Integra Product or Partially Treated Integra Product. PcoMed and Integra will make commercially reasonable efforts to increase the     ***     Run capacity. Changes
to the    ***     Run Fee based on increased capacity will be determined upon completion of the appropriate process validations. 

(b)    For Regulatory Purposes. PcoMed will not charge     ***     Run Fees
for reasonable quantities, not to exceed     ***     units or four     ***     Runs, of Treated Integra Products or Partially Treated Integra Product and test samples
required to complete US Marketing Clearance and/or EU Marketing Clearance testing and validations. 

  
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the Commission. 

 (c)    Payment.
    ***     Run Fees shall be due and payable within thirty (30) days of each     ***     Run. 

2.4.    Minimum Payments. Integra shall use commercially reasonable efforts to Sell Treated Integra Products and
Partially Treated Integra Products that generate payments to PcoMed of no less than the Minimum Payments applicable to each Minimum Payment Period. The Minimum Payment applicable to each Minimum Payment Period shall be due annually on or before 45
days after the last day of each Minimum Payment Period. The Minimum Payment may be satisfied either by payments of the Fees paid pursuant to Sections 2.2 and 2.3, or by the sum of Fees paid and an additional elective cash payment from Integra to
PcoMed. It shall remain in Integra’s sole discretion whether or not to satisfy the Minimum Payment for any Minimum Payment Period by making an additional elective cash payment. 

In the event that Integra fails to satisfy the Minimum Payment for any Minimum Payment Period, PcoMed may, at its sole election, give notice, as set forth in
Section 3.2, for conversion of Integra’s exclusive arrangement under Section 3.1 to a non-exclusive arrangement. PcoMed’s conversion right is PcoMed’s sole and exclusive remedy for
Integra’s failure to satisfy the Minimum Payment for any Minimum Payment Period. Integra shall have no liability at any time to PcoMed for Integra’s failure to pay the Minimum Payment. 

 

	3.	 GRANT OF EXCLUSIVITY COMMERCIALIZATION 

3.1.    Grant of Exclusive Rights. Subject to the terms and conditions of this Agreement, PcoMed hereby grants to
Integra and its Affiliates a sole and exclusive worldwide right to sell and commercialize Integra Products treated by PcoMed, with the PcoMed Surface Modification Technology (the “Right”) for use in the Field in the Territory, including
the right to conduct research and development in support of any of the foregoing. Nothing herein grants any rights to Integra (i) to manufacture any products using the PcoMed Surface Modification Technology or (ii) to sell or commercialize
any products utilizing the PcoMed Surface Modification Technology other than the Integra Products for use in the Field in the Territory. Neither PcoMed nor its Affiliates shall sell or offer for sale, or grant rights under the PcoMed Surface
Modification Technology to any Third Party in the Field in the Territory for products that utilize or embody the PcoMed Surface Modification Technology. Except as expressly stated in the preceding sentence, PcoMed shall not be subject to any
restriction under this Agreement with regard to the PcoMed Surface Modification Technology. Without limiting the foregoing or Section 8.3 below, the exclusive nature of the Rights shall not in any way limit PcoMed from making, having made,
using, selling or offering for sale products and/or services that do not utilize or embody the PcoMed Surface Modification Technology. 

3.2.    Conversion of Rights to Non-Exclusive. Notwithstanding the
provisions of Section 3.1, if Integra (i) fails to timely pay any Minimum Payments due under Section 2.4 for any Minimum Payment Period or (ii) fails to make the payments described in Sections 2.1, 2.2, or 2.3 when due, or
otherwise defaults under any provision of this Agreement, the exclusive Rights granted to Integra under Section 3.1 shall, at the option of PcoMed, to be exercised in PcoMed’s sole and absolute discretion at any time, convert to a non-exclusive arrangement provided that PcoMed gives Integra written notice of its breach and Integra does not cure such breach within forty-five (45) days following Integra’s receipt of such notice. If
PcoMed makes such election, the Right shall be a nonexclusive right at the end of such 45-day cure period, and PcoMed may thereafter allow other Third Parties to use the PcoMed Surface Modification Technology
in products that are in competition with the Integra Products. 
 3.3.    Exclusive Coating. Integra
(i) shall not apply or have applied any other coating to any Integra Products treated with the PcoMed Surface Modification Technology, unless that coating is for the sole purpose of identification or sterilization and (ii) shall not
process the PcoMed Surface Modification Technology in any way that will adversely affect its integrity or performance. 

  
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	4.	 TERM AND TERMINATION. 

4.1.    Initial Term. The initial term of this Agreement (the “Initial Term”) shall commence on the
Effective Date and shall end on the date that payment is due for Minimum Payment Period 7, pursuant to Section 2.4 hereof and as set forth in Attachment B hereof, unless earlier terminated as provided herein. 

4.2.    Right to Renew. Thereafter, this Agreement may be renewed for such periods of time and under such terms and
conditions as are mutually agreed to in writing and pursuant to Section 12.7. 
 4.3.    Termination for
Cause. Without limiting the other rights to terminate set forth in this Agreement, this Agreement may be terminated by either party as follows: 

(a)    Material Breach. In the event that a party materially defaults under or materially breaches any of the
provisions of this Agreement, the other party shall have the right to terminate this Agreement upon 60 days’ prior written notice, unless such material default or breach is cured during such 60-day period
(or in the event any breach is incapable of being cured in such time period, the other party presents a plan to attempt cure of such breach and prevent similar breaches, which plan is reasonably acceptable to the terminating party), in which event
this Agreement shall continue in full force and effect. 
 (b)    Bankruptcy. If a party institutes for its
protection or is made a defendant in any proceeding under bankruptcy, insolvency, reorganization or receivership law, or such party is placed in receivership, makes an assignment for benefit of creditors or is unable to meet its debts in the regular
course of business, the other party may elect to terminate this Agreement immediately by written notice to the first party without prejudice to any right or remedy the other party may have, including damages for breach. 

4.4.    Effects of Termination. 

(a)    Obligations Accruing Prior to Termination. Expiration or termination of this Agreement shall not relieve the
Parties of any obligation accruing prior to such expiration or termination. 
 (b)    Termination of Rights.
Subject to Section 4.-4(c), upon expiration or termination of this Agreement, the Rights and all rights of either party hereunder shall immediately cease and terminate. 

(c)    Transition. After early termination of this Agreement (other than a termination based on a breach of
Sections 5 or 8 by Integra) and continuing for a period of eighteen (18) months thereafter, Integra and its Affiliates may Sell any Treated Integra Product and Partially Treated Integra Product in its inventory in the Field, and may, with
respect to all components which, prior to the effective date of termination, were ordered or manufactured with the anticipation of being included as Treated Integra Product or Partially Treated Integra Product, complete their manufacture and sell
them as though they had been inventory on the effective date of termination, subject to payment of all amounts payable to PcoMed for such Sales under this Agreement. 

(d)    Survival. The following provisions of this Agreement and all defined terms shall survive termination of this
Agreement for any reason: Sections 2.1, 2.2, 2.3, 4.4(c), 5, 6, 7, 8, 9, 10 and 12. 

  
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	5.	 CONFIDENTIALITY. 

5.1.    Confidential Information. Except to the extent expressly authorized by this Agreement or otherwise agreed
to in writing by the parties, each party agrees that, for the term of this Agreement and for 20 years thereafter, it shall keep confidential and shall not publish or otherwise disclose and shall not use for any purpose other than as provided for in
this Agreement any Confidential Information furnished to it by the other party pursuant to this Agreement, except that the foregoing shall not apply to any information for which the receiving party can demonstrate that such information: (i) was
already known to the receiving party, other than under an obligation of confidentiality, at the time of disclosure by the other party; (ii) was generally available to the public or otherwise part of the public domain at the time of its
disclosure to the receiving party; (iii) later became part of the public domain through no act or omission of the receiving party; (iv) was disclosed to the receiving party by a Third Party who had no obligation to the disclosing party not
to disclose such information to others; (iv) was independently developed by a person having no knowledge of or access to the disclosing party’s Confidential Information; or (v) is an Authorized Disclosure under Section 5.3 below.

 5.2.    Ownership of Confidential Information. Confidential Information relating to the PcoMed Technology is
PcoMed’s Confidential Information. Confidential Information relating to the Integra Technology is Integra’s Confidential Information. PcoMed’s Confidential Information and Integra’s Confidential Information will include all
Confidential Information as such term is defined in Section 1.6. 
 5.3.    Authorized
Disclosure. 
 (a)    Authorized Disclosure. Except as expressly agreed to in writing by Integra or as
permitted by this Agreement, PcoMed shall keep Integra Technology and all Integra Confidential Information confidential. Except as expressly agreed to in writing by PcoMed or as permitted by this Agreement, Integra shall keep PcoMed Technology and
all PcoMed Confidential Information confidential. Each party may disclose the other party’s Confidential Information to the extent such disclosure is reasonably necessary for the following reasons: (i) regulatory filings, including filings
with the U.S. Securities Exchange Commission and Regulatory Authorities; (ii) prosecuting or defending litigation provided the Confidential Information is under seal or protective order; and (iii) complying with applicable governmental
regulations and legal requirements. 
 (b)    Notice of Disclosure. Notwithstanding the foregoing, in the event a
party is required to make a disclosure of the other party’s Confidential Information pursuant to this Section it will, except where impracticable, give reasonable advance notice to the other party of such disclosure and use best efforts to
secure confidential treatment of such information. In any event, the parties agree to take all reasonable actions to avoid any unauthorized use or disclosure of Confidential Information hereunder. 

5.4.    Employees; Agents. Each party shall ensure that each of its Affiliates and each employee, director,
officer, consultant, or other agent of it or of its Affiliates (collectively “Agents”), who has access to Confidential Information of the other party is bound to obligations of confidentiality and
non-use substantially similar in scope to those set forth herein Each party agrees that any disclosure or distribution of the other party’s Confidential Information within its own organization shall be
made only as is reasonably necessary to carry out the intent of this Agreement. 
 5.5.    Regulatory Submissions of
Integra Regulatory Data. During the Term, Integra shall provide all Integra Regulatory Data directly to the relevant Regulatory Authority within the required timeframes. PcoMed is expressly not authorized to disclose Integra Confidential
Information directly to 

  
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any Regulatory Authority unless such disclosure is authorized in writing by Integra, except in the following circumstances: 

(a) where PcoMed is required by regulation or other legal requirement to disclose such information; 

(b) as part of a complaint filing concerning a Treated Integra Product or a Partially Treated Integra Product; 

(c) as part of an FDA audit response; or 

(d) as otherwise required or permitted by this Agreement. 

5.6.    Regulatory Submissions of PcoMed Regulatory Data. PcoMed shall provide all PcoMed Regulatory Data directly
to the relevant Regulatory Authority within the required timeframes. Integra is expressly not authorized to disclose PcoMed Confidential Information directly to any Regulatory Authority unless such disclosure is authorized in writing by PcoMed,
except in the following circumstances: 
 (a) where Integra is required by regulation or other legal requirement to disclose
such information, 
 (b) as part of a complaint filing concerning a Treated Integra Product or a Partially Treated Integra
Product; 
 (c) as part of an FDA audit response; or 

(d) as otherwise required or permitted by this Agreement 

5.7.    Injunctive Relief. The parties expressly acknowledge and agree that any breach or threatened breach of this
Section 5 may cause immediate and irreparable harm to the owner of the Confidential Information which may not be adequately compensated by damages. Each party therefore agrees that in the event of such breach or threatened breach and in
addition to any remedies available at law, the party that owns the Confidential Information shall have the right to seek equitable and injunctive relief, in connection with such a breach or threatened breach, without posting bond. 

5.8.    Terms of Agreement Confidential. The parties agree that the terms of this Agreement are confidential and
shall not be disclosed by either party to any Third Party (except to a party’s professional advisors) without advance written permission of the other party, subject to the following: 

 

	 	(i)	 either party may make any filings of this Agreement required by law or regulation in any country so long as
such party uses its reasonable efforts to obtain confidential treatment for portions of this Agreement as available, consults with the other party, and permits the other party to participate, to the extent practicable, in seeking a protective order
or other confidential treatment; 

  

	 	(ii)	 either party may disclose the terms of this Agreement to a Third Party (and its professional advisors) when
such disclosure is reasonably necessary in connection with (A) the grant of a license or sublicense to such Third Party, (B) prosecuting or defending litigation, (C) an actual or potential merger,

  
 10 

	 	
acquisition, placement, investment, or other such transaction with such Third Party, or (D) the sale of securities to or other financing from such Third Party or a financing underwritten by
such Third Party, in which case disclosure may be made to any person or entity to whom such Third Party sells such securities (and its professional advisers); 

  

	 	(iii)	 advance written permission for disclosure will not be required when a party is ordered to disclose information
concerning the Agreement by a competent tribunal or such disclosures are required by law, regulation, or stock exchange rules, except that such party shall make all reasonable efforts to limit any disclosure as may be required in the course of legal
proceedings by entry of an appropriate protective and confidentiality order, and shall provide the other party with as much advance notice of such circumstances as is reasonably practical. 

5.9.    Return of Materials. Any materials or documents which have been furnished by a disclosing
party to a receiving party will be promptly returned, accompanied by all copies thereof, or certified as destroyed upon request by the disclosing party following termination of this Agreement, except that a party may retain one copy solely for
reference to comply with regulatory or other legal requirements, subject to the obligations of confidentiality herein. 
  

	6.	 PAYMENT AND ACCOUNTING. 

6.1.    Payment Terms and Reports. Payments due under Section 2.2 shall be payable to PcoMed by
Integra on a quarterly basis within 45 days following the end of each calendar quarter. Each such payment shall be accompanied by a statement setting forth in reasonable detail (i) the number and type of Treated Integra Product and Partially
Treated Integra Product sold and the Net Sales applicable thereto, (ii) a breakdown of all the components of Net Sales for the determination of payments due under Sections 2.2 (the numbers may be and type of products may be stated in the
aggregate and not by customer and are not required to be detailed by geographic area unless Fee rates are different in different geographic areas). Treated Integra Product and/or Partially Treated Integra Product shall be considered as being sold
for the purpose of the calculation of payments due under Sections 2.2 when the payments for the Treated Integra Product and/or Partially Treated Integra Product are received by Integra or its Affiliates from a Third Party. All payments to be
made under this Agreement shall be paid in United States dollars. Net Sales of Treated Integra Product and/or Partially Treated Integra Product and fees in currencies other than United States dollars shall be first determined in the currency of the
country in which they are earned and shall be converted (for the purpose of calculation only) in accordance with generally accepted accounting principles for financial reporting in the United States. 

6.2.    Records and Audits. Integra shall keep and maintain accurate records and documentation
pertaining to Net Sales of Treated Integra Product in sufficient detail to permit PcoMed to calculate payments due hereunder. Integra shall retain such records and documentation for a period that is consistent with its Records Retention Policy. Such
records and documentation will be available for inspection during such period by an independent certified public accountant selected by PcoMed and reasonably acceptable to Integra, solely for the purpose of verifying the payments made by Integra
under this Agreement. Said accountant shall enter into a confidentiality agreement with Integra and shall not disclose to PcoMed any information except that which is necessary to determine whether PcoMed has received all amounts due to it from
Integra. Such inspections shall be made no more than once each calendar year during ordinary business hours and on reasonable prior notice and shall be at PcoMed’s sole cost and expense. PcoMed shall report the results of any such audit to
Integra within 60 days of completion and provide a copy of such audit 

  
 11 

 
to Integra. The results of any such audit shall be the Confidential Information of Integra. To the extent that such audit reveals any underpayments by Integra, Integra shall pay to PcoMed the
amount of shortfall within 60 days from the date on which the parties actually agreed on the amount of the shortfall, or, in the event the parties do not reach agreement on the shortfall, the date a court issues a judgment finally resolving the
matter. 
 6.3.    Taxes. PcoMed shall pay any and all taxes levied on account of payments it
receives under this Agreement. Integra shall pay, or cause to be paid, any and all taxes required to be paid or withheld on any Sales, supply or other transfers for value of Treated Integra Product and/or Partially Treated Integra Product (other
than taxes imposed on the income or revenues of PcoMed). All amounts due hereunder shall be without deduction of exchange, collection or other charges, provided that if Integra is required to withhold and pay on behalf of PcoMed any income or other
similar tax with respect to the amounts payable under this Agreement, Integra shall deduct such tax payments from and offset against any said payments prior to remittance to PcoMed; and further provided that in regard to any tax so deducted, Integra
shall give to PcoMed such assistance as may reasonably be necessary to enable PcoMed to claim exemption therefrom and credit therefor, and in each case shall furnish PcoMed proper evidence of the taxes paid on PcoMed’s behalf, provided that
Integra shall not be required to incur any out-of-pocket expenses or costs. 
  

	7.	 REPRESENTATIONS AND WARRANTIES 

7.1.    Mutual Representations and Warranties. Each party represents and warrants as to itself the following: 

(a)    Corporate Power. Such party is duly organized and validly existing under the laws of the state of its
organization and has full corporate power and authority to enter into this Agreement and to carry out the provisions hereof. 

(b)    Due Authorization. Such party is duly authorized to execute and deliver this Agreement and to perform its
obligations hereunder. The person executing this Agreement on such party’s behalf has been duly authorized to do so by all requisite corporate action. 

(c)    Binding Agreement. The execution, delivery and performance of this Agreement by such party does not conflict
with any agreement, instrument or understanding, oral or written, to which it is a party or by which it may be bound, nor, to the party’s knowledge, does it violate any material law or regulation of any court, governmental body or
administrative or other agency having jurisdiction over it. 
 7.2.    PcoMed’s Representations and
Warranties. PcoMed hereby represents and warrants to Integra as follows: 
 (a)    Sole Owner; No Prior Grant.
Except as disclosed to Integra, PcoMed is the sole holder of all legal and equitable right, title and interest in and to the PcoMed Technology. PcoMed has not assigned any of its right, title or interest in or to the Inventions disclosed in the
PcoMed Surface Modification Technology. PcoMed has not granted to a Third Party any license under the PcoMed Surface Modification Technology that is inconsistent with, or otherwise restricts, the rights granted to Integra hereunder. PcoMed currently
holds valid and effective assignments of all inventors’ rights to all the inventions covered by the PcoMed Surface Modification Technology. No Third Party has any right, title or interest in or to the PcoMed Surface Modification Technology. No
unnamed inventor has any valid claim to any rights to the inventions contained in the PcoMed Surface Modification Technology and all named inventors are properly named as such. 

(b)    No Asserted Infringement. To PcoMed’s knowledge after diligent investigation, (i) the PcoMed
Surface Modification Technology does not include any trade secret, confidential information, or know-how of such Third Party that has been misappropriated or improperly used or disclosed, or (ii) the
application of the PcoMed Surface Modification Technology to Integra Products or the offer, Sale and use of Treated Integra Products or Partially Treated Integra Products will not infringe a Third Party’s patent rights because of the PcoMed
Surface Modification Technology being applied thereto or practiced thereby. 

  
 12 

 (c)    No Litigation. There is no suit, arbitration or legal,
administrative or other proceeding or governmental investigation pending or, to PcoMed’s knowledge, threatened against (i) PcoMed’s consummation of the transactions described herein, or (ii) PcoMed respecting the PcoMed Surface
Modification Technology. To PcoMed’s knowledge, there are no claims, judgments or settlements involving PcoMed and relating to the PcoMed Surface Modification Technology or the manufacture, use or Sale of any products using the PcoMed Surface
Modification Technology, and no pending claims, litigation or proceedings against PcoMed relating to the PcoMed Surface Modification Technology, PcoMed Technology or the manufacture, use or Sale of products using the PcoMed Surface Modification
Technology. 
 (d)    No Approvals. No approval or consent of any person, court or governmental agency is
required in connection with PcoMed’s execution and delivery of this Agreement and the performance of its obligations hereunder. There are no outstanding liens, encumbrances, Third Party rights, agreements or understandings of any kind, either
written or oral, express of implied, regarding the the PcoMed Technology that are inconsistent or conflict with any provision of this Agreement. 

(e)    Non-Compete. The Settlement Agreement and Mutual Release between
             ***             and              ***
             does not contain a covenant-non-compete applicable to
             ***              and, to the best of PcoMed’s current knowledge,
             ***              is not subject to any
covenant-non-compete that would prevent is employment with PcoMed. 

7.3.    Integra’s Representations and Warranties. Integra hereby represents and warrants to PcoMed as follows:

 (a)    Sole Owner; No Prior Grant. Integra is the sole holder of all legal and equitable right, title and
interest in and to the Integra Technology. Integra has not assigned any of its right, title or interest in or to the Inventions disclosed in the Integra Technology. Integra has not granted to a Third Party any license under the Integra Technology
that is inconsistent with, or otherwise restricts, this Agreement. Integra currently holds valid and effective assignments of all inventors’ rights to all the inventions covered by the Integra Technology. No Third Party has any right, title or
interest in or to the Integra Technology. No unnamed inventor has any valid claim to any rights to the inventions contained in the Integra Technology and all named inventors are properly named as such. 

(b)    No Asserted Infringement. To Integra’s knowledge after diligent investigation, (i) the Integra
Technology does not include any trade secret, confidential information, or know-how of such Third Party that has been misappropriated or improperly used or disclosed and, (ii) to the best of
Integra’s knowledge, the Sale of Treated Integra Products or Partially Treated Integra Products will not infringe any currently known Third Party patent rights. 

(c)    No Litigation. There is no suit, arbitration or legal, administrative or other proceeding or governmental
investigation pending or, to Integra’s knowledge, threatened against (i) Integra’s consummation of the transactions described herein, or (ii) Integra respecting the Integra Technology. To Integra’s knowledge, there are no
claims, judgments or settlements involving Integra and relating to the Integra Technology or the manufacture, use or Sale of any products using the Integra Technology, and no pending claims, litigation or proceedings against Integra relating to the
Integra Technology or the manufacture, use or Sale of products using the Integra Technology. 
 (d)    No
Approvals. No approval or consent of any person, court or governmental agency is required in connection with Integra’s execution and delivery of this Agreement and the performance of its obligations hereunder. There are no outstanding
liens, encumbrances, Third Party rights, agreements or understandings of any kind, either written or oral, express of implied, regarding the the Integra Technology that are inconsistent or conflict with any provision of this Agreement. 

  
 13 

 

	***	 Portions of this page have been omitted pursuant to a request for Confidential Treatment filed separately with
the Commission. 

	8.	 INTELLECTUAL PROPERTY OWNERSHIP; PROSECUTION, ENFORCEMENT. 

8.1.    Ownership. All PcoMed Technology shall remain the property of PcoMed, and all Integra
Technology shall remain the property of Integra. Any Invention that is neither PcoMed Technology nor Integra Technology but that is Derived during the Term jointly by the parties relating to this Agreement shall be the property of (i) PcoMed if
it relates primarily to the PcoMed Technology and (ii) Integra if it relates primarily to the Integra Products; provided that the parties may agree that an Invention that is Derived during the Term jointly may become the property of both
parties, including Inventions or methods related to the surface preparation of Integra Products. Except with regard to the foregoing joint Inventions or methods, each party hereby assigns to the other, by way of present and future assignment, all of
the right, title and interest (including all Intellectual Property Rights therein) that it has or may have in any such Invention that is jointly Derived and that is subject to ownership by the other party. 

8.2.    Inventions. All Inventions and Intellectual Property Rights that relate primarily to the
PcoMed Technology Derived during the Term of this Agreement shall remain as the sole and exclusive property of PcoMed. 

8.3.    Reservation of Rights. Nothing in this Agreement shall be construed as granting to any party
any right, title or interest in or to or under any Intellectual Property Rights or Inventions of the other party, other than as expressly agreed by the parties in writing in this Agreement. All rights not specifically granted herein are reserved to
the applicable party, which may at all times fully and freely exercise the same except as otherwise restricted herein. 

8.4.    Filing, Prosecution, and Maintenance of PcoMed Surface Modification Technology. PcoMed shall
at all times, at its sole election and expense, have the exclusive and sole right to file patent applications covering the PcoMed Surface Modification Technology in its own name. If PcoMed elects to file patent applications covering the PcoMed
Surface Modification Technology, PcoMed shall be responsible for diligently prosecuting and maintaining, at its sole expense, such patent applications and patents issuing thereon. PcoMed shall retain patent counsel of its choosing in connection with
the performance of its obligations under this Section. PcoMed shall keep Integra reasonably informed of its patent prosecution activities with respect to the PcoMed Surface Modification Technology. 

8.5.    Enforcement against Third Parties. 

(a)    Notice. If either party learns of the actual, suspected, threatened or likely infringement or
misappropriation of any of the PcoMed Surface Modification Technology, or any of the Integra Technology, then that party shall give written notice thereof to the other party and shall provide the other party with any evidence of such infringement or
misappropriation in its possession. 
 (b)    Infringement Not Relating Solely to PcoMed Surface
Modification Technology. 
  

	 	(i)	 Integra shall have the sole right, but shall be under no obligation, to take any action to enforce any
suspected or actual infringement, misappropriation or other unauthorized use of Intellectual Property Rights relating to Treated Integra Products or Partially Treated Integra Products where such infringement, misappropriation or other unauthorized
use does not relate exclusively to the PcoMed Technology. If Integra does not have standing without PcoMed joining the action, PcoMed shall join the action at Integra’s expense. 

  
 14 

 (c)    Infringement Relating Exclusively to PcoMed
Surface Modification Technology. 
  

	 	(i)	 PcoMed shall have the first and primary right, but shall be under no obligation, to take any action to enforce
any suspected or actual infringement, misappropriation or other unauthorized use of Intellectual Property Rights relating to Treated Integra Products or Partially Treated Integra Products to the extent that such infringement, misappropriation or
other unauthorized use relates exclusively to the PcoMed Surface Modification Technology. 

  

	 	(ii)	 PcoMed shall notify Integra of its intent to take any such action. If Integra desires PcoMed to take any such
action, Integra shall notify PcoMed of such desire in writing and PcoMed shall have ninety (90) days in which to notify Integra whether it decides to take any action, if it has not already so notified Integra. 

 

	 	(iii)	 Integra may elect to join as a party in PcoMed’s action at Integra’s expense; provided, however, that
if PcoMed does not have standing without Integra joining the action, Integra shall join the action at PcoMed’s expense. 

  

	 	(iv)	 If PcoMed does not notify Integra of its desire to take action within ninety (90) days after written
request by Integra to do so, or PcoMed agrees to take action and fails to resolve or bring suit to enforce any suspected or actual infringement, misappropriation or other unauthorized use within six months thereafter, then Integra may, but shall be
under no obligation to, and at its own cost, require PcoMed to take such enforcement action as Integra deems necessary. If PcoMed takes any such enforcement action, Integra shall reimburse PcoMed for all of its reasonable expenses, costs, and fees,
including reasonable attorney fees, incurred in connection therewith, except as provided in Section 8.5(d)(i). Any such reimbursement shall be deducted from the Fees payable by Integra pursuant to Section 2.2 hereof. 

(d)    Disagreements; Procedures. 

 

	 	(i)	 Whichever party takes or controls an enforcement action under this Section 8.4 shall be entitled to
reimburse itself first out of any sums recovered in such suit or in settlement thereof for all costs and expenses, including reasonable attorneys’ fees, involved in the prosecution of such action. Any amount remaining after this reimbursement
shall be used to reimburse the other party for all costs and expenses, including reasonable attorney’s fees, if any, involved in its participation in such action. Any amounts thereafter remaining shall be split in proportion to the damages from
the suspected or actual infringement, misappropriation or other unauthorized use reasonably attributable to the PcoMed Surface Modification Technology versus the damages from the suspected or actual infringement, misappropriation or other
unauthorized use reasonably not attributable to the PcoMed Surface Modification Technology. 

 Any and all of
Integra’s reasonable expenses, costs and fees (including reasonable attorneys’ fees) incurred by Integra in the investigation, commencement, pursuit, enforcement, defense and settlement of any infringement related exclusively to the PcoMed
Surface Modification Technology that are not reimbursed as provided above, shall be fully creditable, dollar for dollar, against the Minimum Payments or Fees that would otherwise be due and owing hereunder. 

  
 15 

	 	(ii)	 In the event that a declaratory judgment action alleging invalidity or noninfringement of any of the PcoMed
Surface Modification Technology shall be brought against Integra as a result of any enforcement action taken by Integra, Integra shall be responsible for defending such action; provided, however, that within thirty (30) days after commencement
of such action, PcoMed shall have the right to intervene and take over the sole defense of the action at its own expense. In the event that a declaratory judgment action alleging invalidity or noninfringement of any of the Integra Technology shall
be brought against PcoMed as a result of any enforcement action taken by PcoMed, PcoMed shall be responsible for defending such action; provided, however, that within thirty (30) days after commencement of such action, Integra shall have the
right to intervene and take over the sole defense of the action at its own expense. Notwithstanding the foregoing, in the event that a declaratory judgment action is brought against one or both of the parties alleging invalidity or noninfringement
of PcoMed Technology and Integra Technology, PcoMed and Integra shall each have the right to participate in the defense of the action at its own expense. 

  

	9.	 LIMITATION OF LIABILITY. 

9.1.    Limitation of Liability. NEITHER PARTY SHALL BE LIABLE TO THE OTHER FOR ANY SPECIAL,
CONSEQUENTIAL, INCIDENTAL, OR INDIRECT DAMAGES ARISING FROM OR RELATING TO ANY BREACH OF THIS AGREEMENT, REGARDLESS OF ANY NOTICE OF THE POSSIBILITY OF SUCH DAMAGES. NOTWITHSTANDING THE FOREGOING, NOTHING IN THIS SECTION IS INTENDED TO LIMIT OR
RESTRICT THE DAMAGES AVAILABLE FOR BREACHES OF SECTION 3.1 (GRANT OF RIGHTS), SECTION 5 (CONFIDENTIALITY PROVISIONS), OR SECTIONS 8.1 AND 8.2 (OWNERSHIP AND LICENSE). 
  

	10.	 INDEMNIFICATION. 

10.1.    PcoMed’s Indemnification. PcoMed shall indemnify and defend Integra and its
Affiliates, and the directors, officers, members, employees, counsel , agents and representatives of Integra and its Affiliates, and the successors and assigns of any of the foregoing (the “Integra Indemnitees”), and hold the Integra
Indemnitees harmless from and against any and all claims, demands, actions, liabilities, damages, losses, judgments, costs or expenses (including interest and penalties and reasonable attorneys’ fees and professional fees and expenses of
litigation)(collectively, “Claims”) arising out of, in connection with, or resulting from any and all claims incurred by or asserted against Integra Indemnitees for (i) infringement of any patent or other proprietary rights arising
solely from or occurring as a result of the manufacture, sale, offer to sell, importation and/or use of PcoMed Surface Modification Technology; (ii) any and all breaches of the representations and warranties of this Agreement by PcoMed; and
(iii) product defects or liability associated with the PcoMed Surface Modification Technology. Integra may offset all costs and expenses covered under (i) above against the Fees as provided in Section 2.2 (c) as its sole and exclusive
remedy for the recovery of such costs and expenses. 
 10.2.    Integra’s Indemnification.
Integra shall indemnify and defend PcoMed and its Affiliates, and the directors, officers, members, employees, counsel , agents and representatives of PcoMed and its Affiliates, and the successors and assigns of any of the foregoing (the
“PcoMed 

  
 16 

 
Indemnitees”), and hold the PcoMed Indemnitees harmless from and against any and all claims, demands, actions, liabilities, damages, losses, judgments, costs or expenses (including interest
and penalties and reasonable attorneys’ fees and professional fees and expenses of litigation) (collectively, “Claims”) asserted by third parties and arising out of, in connection with, or resulting from any and all claims incurred by
or asserted against PcoMed for (i) infringement of any patent or other proprietary rights arising from or occurring as a result of the manufacture, sale, offer to sell, importation and/or use of Integra Technology; (ii) any and all
breaches of the representations and warranties of this Agreement by Integra; and (iii) any product defects or liability associated with any Integra Products except that arising solely from the PcoMed Surface Modification Technology. 

 

	11.	 USE OF NAMES. 

11.1.    Names and Trademarks. Each party agrees not to use or reference the name of the other
party, or the other party’s logos or trademarks in any advertising, sales promotion, press release or other communication relating to this Agreement without obtaining such party’s prior written consent. Notwithstanding the foregoing, a
party may use or reference such information to the extent reasonably necessary for (i) regulatory filings, including filings with the U.S. Securities Exchange Commission and Regulatory Authorities, (ii) prosecuting or defending litigation,
or (iii) complying with applicable governmental regulations and legal requirements. Notwithstanding the foregoing, Integra shall have the right to indicate that the Treated Integra Products and Partially Treated Integra Products were partly
manufactured by PcoMed. 
  

	12.	 MISCELLANEOUS. 

12.1.    Notices. Any notice, request, instruction or other document required or permitted to be
given under this Agreement shall be in writing and shall be deemed to have been given (i) if mailed with the United States Postal Service by prepaid, first class, certified mail, return receipt requested, at the time of receipt by the intended
recipient, (ii) if sent by Federal Express, Airborne, or other overnight carrier, signature of delivery required, at the time of receipt by the intended recipient, (iii) if sent by facsimile transmission, when so sent and when receipt has
been acknowledged by appropriate telephone or facsimile receipt, or (iv) if hand-delivered, at the time of receipt by the intended recipient, addressed as follows: 
  

	 	(a)	 For Integra: 

Brian Larkin, President, Global Spine and Orthobiologics 

Integra LifeSciences Corporation 

311 Enterprise Drive 

Plainsboro, New Jersey 08536 

Patricia Jacobson, Corporate Counsel 

Integra LifeSciences Corporation 

2302 La Mirada Drive 
 Vista, CA
92081 
 General Counsel 

Integra LifeSciences Corporation 

311 Enterprise Drive 

Plainsboro, NJ 08536 

  
 17 

	 	(b)	 For PcoMed: 

Steve Jacobs 
 CEO 

PcoMed, LLC. 
 105 S. Sunset St.

 Suite O 
 Longmont, CO
80501 
 With required copy to: 

Alan Keeffe 
 Sherman &
Howard LLC 
 675 Snapdragon Way 

Suite 350 
 Steamboat Springs,
CO 80477 
 12.2.    Compliance with Laws. Each party shall comply with all applicable federal,
state and local laws and regulations in connection with its activities pursuant to this Agreement. 

12.3.    Governing Law. This Agreement shall be construed and enforced in accordance with the laws
of the State of New Jersey. 
 12.4.    Dispute Resolution. In the event of any controversy or
claim relating to, arising out of or in any way connected to any provision of this Agreement (a “Dispute”), either Party may, by notice to the other Party, have such dispute referred to their respective senior officials designated below or
their successors, for attempted resolution by good faith negotiations within 30 days after such notice is received. Any Dispute that is not resolved through such negotiations may be referred to binding arbitration in Denver, Colorado with the
Judicial Arbiter Group as part of a 3 person panel, with costs borne separately by each party, to be conducted in accordance with the rules of the American Arbitration Association. 

 

	 	(a)	 For Integra: 

Brian Larkin 
 President, Global
Spine and Orthobiologics 
 Integra LifeSciences Corporation 

311 Enterprise Drive 

Plainsboro, New Jersey 08536 
  

	 	(b)	 For PcoMed: 

Steven Jacobs 
 CEO 

PcoMed, LLC. 
 105 S. Sunset St.

 Suite O 
 Longmont, CO
80501 

  
 18 

 12.5.    No Waiver. Failure of any party to
enforce a right under this Agreement shall not act as a waiver of that right or the ability to assert that right unless such party has signed an express written waiver as to a particular matter for a particular period of time. 

12.6.    Severability. If any provision of this Agreement shall be found by a court of competent
jurisdiction to be void, invalid or unenforceable, the provision shall be considered severed from this Agreement and shall not affect the validity or enforceability of the remainder of this Agreement. The parties shall make a good faith effort to
replace any invalid or unenforceable provision with a valid and enforceable one such that the objectives contemplated by the parties when entering this Agreement may be realized. 

12.7.    Modification. No change, modification, addition or amendment to this Agreement is valid or
enforceable unless in writing and signed and dated by the authorized officers of the parties to this Agreement. 

12.8.    Entire Agreement. This Agreement and the Attachments attached hereto constitute the entire
agreement between the parties and replace and supersede as of the Effective Date any and all prior agreements and understandings, whether oral or written, between the parties with respect to the subject matter hereof, except any prior Confidential
Disclosure Agreement(s). 
 12.9.    Successors. Except as otherwise expressly provided in this
Agreement, this Agreement shall be binding upon, inures to the benefit of, and is enforceable by, the parties and their respective heirs, legal representatives, successors and permitted assigns. 

12.10.    Construction. This Agreement has been prepared, examined, negotiated and revised by each
party and their respective attorneys, and no implication shall be drawn and no provision shall be construed against any party to this Agreement by virtue of the purported identity of the drafter of this Agreement or any portion thereof. 

12.11.    Counterparts. This Agreement may be executed simultaneously in one or more counterparts,
each of which shall constitute one and the same instrument. 
 12.12.    Assignment. This
Agreement shall be binding upon and shall inure to the benefit of PcoMed and Integra, and their successors and assigns. Neither party shall assign their respective rights under this Agreement without the prior written consent of the other party.
Notwithstanding the foregoing, no such consent shall be required for either party to assign this Agreement (i) to an Affiliate provided the party to this Agreement continues to be liable for all obligations hereunder, or (ii) in connection
with a merger or sale of all or substantially all of the assets of such party to which this Agreement relates, provided in the case of (ii) the successor or assignee assumes all liabilities hereunder. 

12.13.    Further Assurances. Each party shall do, execute, acknowledge and deliver, and cause to be
done, executed, acknowledged or delivered, all such further acts, transfers, conveyances, assignments or assurances as may be reasonably required to consummate the transactions contemplated by this Agreement. 

12.14.    Force Majeure. Except for obligations to make payments payable under this Agreement, each
party shall be excused from the performance of its obligations under this Agreement to the extent that such performance is prevented by force majeure and the nonperforming party promptly provides the other party with written notice of the event of
force majeure and its effect. Such excuse shall be continued so long as the condition constituting force 

  
 19 

 
majeure continues and the nonperforming party takes reasonable efforts to remove or circumvent the interference caused by the condition. For purposes of this Agreement, force majeure shall
include an act of God, war, civil commotion, terrorist act, labor strike or lock-out other than at a party’s facility, epidemic, failure or default of public utilities or common carriers, destruction of
production facilities or materials by fire, earthquake, storm or like catastrophe, and failure of plant or machinery (provided that such failure could not have been prevented by the exercise of skill, diligence, and prudence that would be reasonably
and ordinarily expected from a skilled and experienced person engaged in the same type of undertaking under the same or similar circumstances). 

12.15.    Independent Contractors. Each party shall act solely as an independent contractor, and
nothing in this Agreement shall be construed to give either party the power or authority to act for, bind or commit the other party in any way. Nothing herein shall be construed to create the relationship of partnership, principal and agent or joint
venture between the parties. 
 IN WITNESS WHEREOF, the parties have caused their duly authorized representatives to execute this Agreement
as of the Effective Date. 
  

									
	INTEGRA LIFESCIENCES CORPORATION	  		  	PCOMED, LLC
					
	By:	 	 /s/ Brian Larkin
	  		  	By:	  	 /s/ Steve Jacobs

					
	Name:	 	 Brian Larkin
	  		  	Name:	  	 Steve Jacobs

					
	Title:	 	 President
	  		  	Title:	  	 CEO

					
	Date:	 	 May 29, 2013
	  		  	Date:	  	 May 15, 2013

  
 20 

 ATTACHMENT A 

PcoMed Surface Modification Technology 

*** 

  
 i 

 

	***	 Portions of this page have been omitted pursuant to a request for Confidential Treatment filed separately with
the Commission. 

 ATTACHMENT A 

PcoMed Surface Modification Technology (continued) 

*** 

  
 ii 

 

	***	 Portions of this page have been omitted pursuant to a request for Confidential Treatment filed separately with
the Commission. 

 Attachment B 

Minimum Payments 
  

					
	 PERIOD
	  	MINIMUM PAYMENT	 
	 Minimum Payment Period 1
	  	$	***	 
	 Minimum Payment Period 2
	  	$	***	 
	 Minimum Payment Period 3
	  	$	***	 
	 Minimum Payment Period 4
	  	$	***	 
	 Minimum Payment Period 5
	  	$	***	 
	 Minimum Payment Period 6
	  	$	***	 
	 Minimum Payment Period 7
	  	$	***	 

 For this purpose: 
 “Minimum
Payment Period 1” means the one-year period commencing on the date set forth in the Notice of Initial Acceptance of First Product Order. 

“Minimum Payment Period 2” means the one-year period commencing on the first day after Minimum Payment
Period 1. 
 “Minimum Payment Period 3” means the one-year period commencing on the first day after
Minimum Payment Period 2. 
 “Minimum Payment Period 4” means the one-year period commencing on the first
day after Minimum Payment Period 3. 
 “Minimum Payment Period 5” means the one-year period commencing on
the first day after Minimum Payment Period 4. 
 “Minimum Payment Period 6” means the one-year period
commencing on the first day after Minimum Payment Period 5. 
 “Minimum Payment Period 7” means the
one-year period commencing on the first day after Minimum Payment Period 6. 

  

	***	 Portions of this page have been omitted pursuant to a request for Confidential Treatment filed separately with
the Commission. 

 ATTACHMENT C 

NOTICE OF INITIAL ACCEPTANCE OF FIRST PRODUCT ORDER 

This Notice references the Agreement executed effective as of             , 2013, by and between
Integra LifeSciences Corporation (“Integra”) and PcoMed, LLC (“PcoMed”) (“Agreement”). In accordance with Section 12.1 (Notices) and pursuant to Section 4.1 of the Agreement, notice is hereby given that the
date of Integra’s acceptance of the First Product Order (as defined in the Agreement and as approved by the applicable Regulatory Authority for sale) is designated as the      day of
            , 20    .     
 This Notice of Initial
Acceptance of the First Product Order is issued by Integra LifeSciences Corporation on this      day of             , 20    . 

 

			
	By:	 	  

		
	Name:	 	  

		
	Title:Exhibit 10.1

 

EXECUTION
COPY

 

EQUITY
PURCHASE AGREEMENT

 

THIS
EQUITY PURCHASE AGREEMENT (this “Agreement”) is entered into as of October 5, 2018 (the “Execution
Date”), by and between Propanc Biopharma, Inc., a Delaware corporation (the “Company”), and L2 Capital,
LLC, a Kansas limited liability company (the “Investor”).

 

RECITALS

 

WHEREAS,
the parties desire that, upon the terms and subject to the conditions contained herein, the Company shall issue and sell to the
Investor, from time to time as provided herein, and the Investor shall purchase from the Company up to Ten Million Dollars ($10,000,000.00)
of the Company’s Common Stock (as defined below);

 

NOW,
THEREFORE, in consideration of the mutual covenants contained in this Agreement, and for other good and valuable consideration,
the receipt and adequacy of which are hereby acknowledged, the Company and the Investor hereby agree as follows:

 

Article
I

CERTAIN DEFINITIONS

 

Section
1.1 RECITALS. The parties acknowledge
and agree that the recitals set forth above are true and correct and are hereby incorporated in and made a part of this Agreement.

 

Section
1.2 DEFINED TERMS. As used in this Agreement,
the following terms shall have the following meanings specified or indicated (such meanings to be equally applicable to both the
singular and plural forms of the terms defined):

 

“Agreement”
shall have the meaning specified in the preamble hereof.

 

“Available
Amount” means, initially, the Maximum Commitment Amount, which amount shall be reduced by the Investment Amount following
each successful Closing, each time the Investor purchases shares of Common Stock pursuant to a Put.

 

“Average
Daily Trading Volume” shall mean the average trading volume of the Company’s Common Stock in the ten (10) Trading
Days immediately preceding the respective Put Date.

 

“Bankruptcy
Law” means Title 11, U.S. Code, or any similar federal or state law for the relief of debtors.

 

“Claim
Notice” shall have the meaning specified in Section 9.3(a).

 

“Clearing
Costs” shall mean all of the Investor’s broker and Transfer Agent fees.

 

“Clearing
Date” shall be the date on which the Investor receives the Put Shares as DWAC Shares in its brokerage account.

 

“Closing”
shall mean one of the closings of a purchase and sale of shares of Common Stock pursuant to Section 2.3.

 

    	 	- 1 -	 

    	 

    

 

“Closing
Certificate” shall mean the closing “Officer’s Certificate” of the Company in the form of Exhibit
B hereto.

 

“Closing
Date” shall mean the date of any Closing hereunder.

 

“Commitment
Period” shall mean the period commencing on the Execution Date, and ending on the earlier of (i) the date on which the
Investor shall have purchased Put Shares pursuant to this Agreement equal to the Maximum Commitment Amount, (ii) October 5, 2021,
or (iii) written notice of termination by the Company to the Investor (which shall not occur at any time that the Investor holds
any of the Put Shares).

 

“Commitment
Shares” means 3,850,597 shares of Common Stock issued by the Company to the Investor pursuant to Section 6.5.

 

“Common
Stock” shall mean the Company’s common stock, $0.001 par value per share, and any shares of any other class of
common stock whether now or hereafter authorized, having the right to participate in the distribution of dividends (as and when
declared) and assets (upon liquidation of the Company).

 

“Common
Stock Equivalents” means any securities of the Company or the Subsidiaries which would entitle the holder thereof to
acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument
that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive,
Common Stock.

 

“Company”
shall have the meaning specified in the preamble to this Agreement.

 

“Confidential
Information” means any information disclosed by either party to this Agreement, or their affiliates, agents or representatives,
to the other party to this Agreement, either directly or indirectly, in writing, orally or by inspection of tangible objects (including,
without limitation, documents, formulae, business information, trade secrets, technology, strategies. prototypes, samples, plant
and equipment), which may or may not be designated as “Confidential,” “Proprietary” or some similar designation.
Confidential Information may also include information disclosed by third parties. Confidential Information shall not, however,
include any information which (i) was publicly known and made generally available in the public domain prior to the time of disclosure
by the disclosing party; (ii) becomes publicly known and made generally available after disclosure by the disclosing party to
the receiving party through no fault, action or inaction of the receiving party; (iii) is already in the possession of the receiving
party at the time of disclosure by the disclosing party as shown by the receiving party’s files and records immediately
prior to the time of disclosure; (iv) is obtained by the receiving party from a third party without a breach of such third party’s
obligations of confidentiality; (v) is independently developed by the receiving party without use of or reference to the disclosing
party’s Confidential Information, as shown by documents and other competent evidence in the receiving party’s possession;
or (vi) is required by law to be disclosed by the receiving party, provided that the receiving party gives the disclosing party
prompt written notice of such requirement prior to such disclosure and assistance in obtaining an order protecting the information
from public disclosure.

 

“Current
Report” shall have the meaning set forth in Section 6.4.

 

    	 	- 2 -	 

    	 

    

 

“Custodian”
means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law.

 

“Damages”
shall mean any loss, claim, damage, liability, cost and expense (including, without limitation, reasonable attorneys’ fees
and disbursements and costs and expenses of expert witnesses and investigation).

 

“Dispute
Period” shall have the meaning specified in Section 9.3(a).

 

“Disqualification
Event” shall have the meaning specified in Section 4.18.

 

“DTC”
shall mean The Depository Trust Company, or any successor performing substantially the same function for the Company.

 

“DTC/FAST
Program” shall mean the DTC’s Fast Automated Securities Transfer Program.

 

“DWAC”
shall mean Deposit Withdrawal at Custodian as defined by the DTC.

 

“DWAC
Eligible” shall mean that (a) the Common Stock is eligible at DTC for full services pursuant to DTC’s operational
arrangements, including, without limitation, transfer through DTC’s DWAC system, (b) the Company has been approved (without
revocation) by the DTC’s underwriting department, (c) the Transfer Agent is approved as an agent in the DTC/FAST Program,
(d) the Commitment Shares or Put Shares, as applicable, are otherwise eligible for delivery via DWAC, and (e) the Transfer Agent
does not have a policy prohibiting or limiting delivery of the Commitment Shares or Put Shares, as applicable, via DWAC.

 

“DWAC
Shares” means shares of Common Stock that are (i) issued in electronic form, (ii) freely tradable and transferable and
without restriction on resale and (iii) timely credited by the Company to the Investor’s or its designee’s specified
DWAC account with DTC under the DTC/FAST Program, or any similar program hereafter adopted by DTC performing substantially the
same function.

 

“Exchange
Act” shall mean the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

“Exchange
Cap” shall have the meaning set forth in Section 7.1(c).

 

“Execution
Date” shall have the meaning set forth in the preamble to this Agreement.

 

“FINRA”
shall mean the Financial Industry Regulatory Authority, Inc.

 

“Indemnified
Party” shall have the meaning specified in Section 9.2.

 

“Indemnifying
Party” shall have the meaning specified in Section 9.2.

 

“Indemnity
Notice” shall have the meaning specified in Section 9.3(b).

 

“Intellectual
Property” shall mean all trademarks, trademark applications, trade names, service marks, service mark registrations,
service names, patents, patent applications, patent rights, copyrights, inventions, licenses, trade secrets or other intellectual
property rights.

 

    	 	- 3 -	 

    	 

    

 

“Investment
Amount” shall mean the dollar value equal to the amount of Put Shares referenced in the Put Notice multiplied by the
Purchase Price minus the Clearing Costs.

 

“Investor”
shall have the meaning specified in the preamble to this Agreement.

 

“Issuer
Covered Person” shall have the meaning specified in Section 4.18.

 

“Lien”
means a lien, charge, pledge, security interest, encumbrance, right of first refusal, preemptive right or any other restriction.

 

“Market
Price” shall mean the one lowest (1) VWAP on the Principal Market during the Valuation Period, as reported by Bloomberg
Finance L.P. or other reputable source.

 

“Material
Adverse Effect” shall mean any effect on the business, operations, properties, or financial condition of the Company
and/or the Subsidiaries that is material and adverse to the Company and/or the Subsidiaries and/or any condition, circumstance,
or situation that would prohibit or otherwise materially interfere with the ability of the Company and/or the Subsidiaries to
enter into and/or perform its obligations under any Transaction Document.

 

“Maximum
Commitment Amount” shall mean Ten Million Dollars ($10,000,000.00).

 

“Person”
shall mean an individual, a corporation, a partnership, an association, a trust or other entity or organization, including a government
or political subdivision or an agency or instrumentality thereof.

 

“Principal
Market” shall mean any of the national exchanges (i.e. NYSE, NYSE AMEX, NASDAQ), or principal quotation systems (i.e.
OTCQX, OTCQB, OTC Pink, the OTC Bulletin Board), or other principal exchange or recognized quotation system which is at the time
the principal trading platform or market for the Common Stock.

 

“Purchase
Price” shall mean 87.5% of the Market Price on such date on which the Purchase Price is calculated in accordance with
the terms and conditions of this Agreement.

 

“Put”
shall mean the right of the Company to require the Investor to purchase shares of Common Stock, subject to the terms and conditions
of this Agreement.

 

“Put
Date” shall mean any Trading Day during the Commitment Period that a Put Notice is deemed delivered pursuant to Section
2.2(b).

 

“Put
Notice” shall mean a written notice, substantially in the form of Exhibit A hereto, addressed to the Investor
and setting forth the amount of Put Shares which the Company intends to require the Investor to purchase pursuant to the terms
of this Agreement.

 

“Put
Shares” shall mean all shares of Common Stock issued, or that the Company shall be entitled to issue, per any applicable
Put Notice in accordance with the terms and conditions of this Agreement.

 

“Registration
Rights Agreement” means that agreement in the form attached hereto as Exhibit D.

 

    	 	- 4 -	 

    	 

    

 

“Registration
Statement” shall have the meaning specified in Section 6.4.

 

“Regulation
D” shall mean Regulation D promulgated under the Securities Act.

 

“Required
Minimum” shall mean, as of any date, the maximum aggregate number of shares of Common Stock then issued or potentially
issuable in the future pursuant to the Transaction Documents.

 

“Rule
144” shall mean Rule 144 promulgated under the Securities Act or any similar provision then in force under the Securities
Act.

 

“SEC”
shall mean the United States Securities and Exchange Commission.

 

“SEC
Documents” shall have the meaning specified in Section 4.5.

 

“Securities”
means, collectively, the Put Shares and the Commitment Shares.

 

“Securities
Act” shall mean the Securities Act of 1933, as amended.

 

“Short
Sales” shall mean all “short sales” as defined in Rule 200 of Regulation SHO under the Exchange Act.

 

“Subsidiary”
or “Subsidiaries” means any Person the Company wholly-owns or controls, or in which the Company, directly or
indirectly, owns a majority of the voting stock or similar voting interest, in each case that would be disclosable pursuant to
Item 601(b)(21) of Regulation S-K promulgated under the Securities Act.

 

“Third
Party Claim” shall have the meaning specified in Section 9.3(a).

 

“Trading
Day” shall mean a day on which the Principal Market shall be open for business.

 

“Transaction
Documents” shall mean this Agreement, the Registration Rights Agreement, and all schedules and exhibits hereto and thereto.

 

“Transfer
Agent” shall mean Corporate Stock Transfer, Inc., the current transfer agent of the Company, and any successor transfer
agent of the Company.

 

“Transfer
Agent Instruction Letter” means the letter from the Company to the Transfer Agent which instructs the Transfer Agent
to issue the Put Shares and the Commitment Shares pursuant to the Transaction Documents, in the form of Exhibit C attached
hereto.

 

“Valuation
Period” shall mean the period of five (5) Trading Days following the Clearing Date associated with the applicable Put
Notice during which the Purchase Price of the Common Stock is valued; provided, however, that the Valuation Period shall instead
begin on the Clearing Date if the respective Put Shares are received as DWAC Shares in Investor’s brokerage account prior
to 11:00 a.m. EST on the respective Clearing Date.

 

    	 	- 5 -	 

    	 

    

 

“Variable
Security Holder” means any holder of any securities of the Company in an amount in excess of $250,000 that (A) have
or may have conversion rights of any kind, contingent, conditional or otherwise, in which the number of shares that may be issued
pursuant to such conversion right varies with the market price of the Common Stock, or (B) are or may become convertible into
Common Stock (including without limitation convertible debt, warrants or convertible preferred stock), with a conversion price
that varies with the market price of the Common Stock, even if such security only becomes convertible following an event of default,
the passage of time, or another trigger event or condition.

 

“VWAP”
shall mean for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then
listed or quoted on a national exchange as included in the term Principal Market, the daily volume weighted average price of the
Common Stock for such date (or the nearest preceding date) on such national exchange on which the Common Stock is then listed
or quoted for trading as reported by Bloomberg L.P. or Quotestream, a product of QuoteMedia, Inc. (based on a Trading Day from
9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)); (b) if the Common Stock is not then traded on a national exchange,
the volume weighted average price of the Common Stock for such date (or the nearest preceding date) on the OTCQX, OTCQB, OTC Pink
or OTC Bulletin Board (as applicable); (c) if the Common Stock is not then quoted for trading on the OTCQX, OTCQB, OTC Pink or
OTC Bulletin Board and if prices for the Common Stock are then reported in the OTC markets or a similar organization or agency,
the most recent bid price per share of the Common Stock so reported that reflects the equivalent of a trading market for the Common
Stock; or (d) in all other cases, the fair market value of a share of Common Stock as determined by an independent appraiser selected
in good faith by the Investor and reasonably acceptable to the Company.

 

Article
II

PURCHASE AND SALE OF COMMON STOCK

 

Section
2.1 PUTS. Upon the terms and conditions
set forth herein (including, without limitation, the provisions of Article VII), the Company shall have the right, but
not the obligation, to direct the Investor, by its delivery to the Investor of a Put Notice from time to time during the Commitment
Period, to purchase Put Shares in an amount in each instance equal to the lesser of $1,000,000 or 250% of the Average Daily Trading
Volume.

 

Section
2.2 MECHANICS.

 

(a)
PUT NOTICE. At any time and from time
to time during the Commitment Period, except as provided in this Agreement, the Company may deliver a Put Notice to Investor,
subject to satisfaction of the conditions set forth in Section 7.2 and otherwise provided herein. The Company shall deliver,
or cause to be delivered, the Put Shares as DWAC Shares to the Investor within two (2) Trading Days following the Put Date.

 

(b)
DATE OF DELIVERY OF PUT NOTICE. A Put
Notice shall be deemed delivered on (i) the Trading Day it is received by e-mail by the Investor if such notice is received on
or prior to 8:30 a.m. EST or (ii) the immediately succeeding Trading Day if it is received by e-mail after 8:30 a.m. EST on a
Trading Day or at any time on a day which is not a Trading Day. The Company shall not deliver another Put Notice to the Investor
within ten (10) Trading Days of a prior Put Notice.

 

    	 	- 6 -	 

    	 

    

 

Section
2.3 CLOSINGS.

 

(a)
TIMING. The Closing of a Put shall occur
within one (1) Trading Day following the end of the respective Valuation Period, whereby the Investor shall deliver the Investment
Amount by wire transfer of immediately available funds to an account designated by the Company. In addition, on or prior to such
Closing, each of the Company and the Investor shall deliver to each other all documents, instruments and writings required to
be delivered or reasonably requested by either of them pursuant to this Agreement in order to implement and effect the transactions
contemplated herein.

 

(b)
RETURN OF SURPLUS. If the value of the
Put Shares delivered to the Investor causes the Company to exceed the Maximum Commitment Amount, then the Investor shall return
to the Company the surplus amount of Put Shares associated with such Put and the Purchase Price with respect to such Put shall
be reduced by any Clearing Costs related to the return of such Put Shares.

 

Article
III

REPRESENTATIONS AND WARRANTIES OF INVESTOR

 

The
Investor represents and warrants to the Company that:

 

Section
3.1 INTENT. The Investor is entering into
this Agreement for its own account, and the Investor has no present arrangement (whether or not legally binding) at any time to
sell the Securities to or through any Person in violation of the Securities Act or any applicable state securities laws; provided,
however, that the Investor reserves the right to dispose of the Securities at any time in accordance with federal and state
securities laws applicable to such disposition; provided, however, that the Investor shall dispose of the Securities
in accordance with the terms of this Agreement.

 

Section
3.2 NO LEGAL ADVICE FROM THE COMPANY.
The Investor acknowledges that it has had the opportunity to review this Agreement and the transactions contemplated by this Agreement
with its own legal counsel and investment and tax advisors. Except with respect to the representations, warranties and covenants
contained in this Agreement, the Investor is relying solely on such counsel and advisors and not on any statements or representations
of the Company or any of its representatives or agents for legal, tax or investment advice with respect to this investment, the
transactions contemplated by this Agreement or the securities laws of any jurisdiction.

 

Section
3.3 ACCREDITED INVESTOR. The Investor
is an accredited investor as defined in Rule 501(a)(3) of Regulation D, and the Investor has such experience in business and financial
matters that it is capable of evaluating the merits and risks of an investment in the Securities. The Investor acknowledges that
an investment in the Securities is speculative and involves a high degree of risk.

 

Section
3.4 AUTHORITY. The Investor has the requisite
power and authority to enter into and perform its obligations under this Agreement and the other Transaction Documents and to
consummate the transactions contemplated hereby and thereby. The execution and delivery of this Agreement and the other Transaction
Documents and the consummation by it of the transactions contemplated hereby and thereby have been duly authorized by all necessary
action and no further consent or authorization of the Investor is required. Each Transaction Document to which it is a party has
been duly executed by the Investor, and when delivered by the Investor in accordance with the terms hereof, will constitute the
valid and binding obligation of the Investor enforceable against it in accordance with its terms, subject to applicable bankruptcy,
insolvency, or similar laws relating to, or affecting generally the enforcement of, creditors’ rights and remedies or by
other equitable principles of general application.

 

    	 	- 7 -	 

    	 

    

 

Section
3.5 NOT AN AFFILIATE. To the Investor’s
knowledge, the Investor is not an officer, director or “affiliate” (as such term is defined in Rule 405 of the Securities
Act) of the Company.

 

Section
3.6 ORGANIZATION AND STANDING. The Investor
is an entity duly formed, validly existing and in good standing under the laws of the jurisdiction of its formation with full
right, limited liability company power and authority to enter into and to consummate the transactions contemplated by this Agreement
and the other Transaction Documents.

 

Section
3.7 ABSENCE OF CONFLICTS. The execution
and delivery of this Agreement and the other Transaction Documents, and the consummation of the transactions contemplated hereby
and thereby and compliance with the requirements hereof and thereof, will not (a) violate any law, rule, regulation, order, writ,
judgment, injunction, decree or award binding on the Investor, (b) violate any provision of any indenture, instrument or agreement
to which the Investor is a party or is subject, or by which the Investor or any of its assets is bound, or conflict with or constitute
a material default thereunder, (c) result in the creation or imposition of any lien pursuant to the terms of any such indenture,
instrument or agreement, or constitute a breach of any fiduciary duty owed by the Investor to any third party, or (d) require
the approval of any third-party (that has not been obtained) pursuant to any material contract, instrument, agreement, relationship
or legal obligation to which the Investor is subject or to which any of its assets, operations or management may be subject.

 

Section
3.8 DISCLOSURE; ACCESS TO INFORMATION.
The Investor had an opportunity to review copies of the SEC Documents filed on behalf of the Company and has had access to all
publicly available information with respect to the Company.

 

Section
3.9 MANNER OF SALE. At no time was the
Investor presented with or solicited by or through any leaflet, public promotional meeting, television advertisement or any other
form of general solicitation or advertisement.

 

Article
IV

REPRESENTATIONS AND WARRANTIES OF THE COMPANY

 

The
Company represents and warrants to the Investor that, except as disclosed in the SEC Documents or except as set forth in the disclosure
schedules hereto (the “Schedules”) (which Schedules shall be deemed a part hereof and shall qualify any representation
or warranty otherwise made herein to the extent of the disclosure contained in the corresponding section of the Schedules or to
the extent the relevance of such disclosure to such representation or warranty is reasonably apparent), as of the Execution Date
and at each Closing Date:

 

Section
4.1 ORGANIZATION OF THE COMPANY. The Company
is a corporation duly incorporated, validly existing and in good standing under the laws of the State of Delaware, with the requisite
power and authority to own and use its properties and assets and to carry on its business as currently conducted. Each of the
Subsidiaries is an entity duly incorporated or otherwise organized, validly existing and in good standing under the laws of the
jurisdiction of its incorporation or organization, with the requisite power and authority to own and use its properties and assets
and to carry on its business as currently conducted. Each of the Company and the Subsidiaries is not in violation or default of
any of the provisions of its respective certificate or articles of incorporation, bylaws or other organizational or charter documents.
Each of the Company and the Subsidiaries is duly qualified to conduct business and is in good standing as a foreign corporation
or other entity in each jurisdiction in which the nature of the business conducted or property owned by it makes such qualification
necessary, except where the failure to be so qualified or in good standing, as the case may be, could not have or reasonably be
expected to result in a Material Adverse Effect and to the best of the Company’s knowledge, no proceeding has been instituted
in any such jurisdiction revoking, limiting or curtailing or seeking to revoke, limit or curtail such power and authority or qualification.

 

    	 	- 8 -	 

    	 

    

 

Section
4.2 AUTHORITY. The Company has the requisite
corporate power and authority to enter into and perform its obligations under this Agreement and the other Transaction Documents.
The execution and delivery of this Agreement and the other Transaction Documents by the Company and the consummation by it of
the transactions contemplated hereby and thereby have been duly authorized by all necessary corporate action and no further consent
or authorization of the Company or its Board of Directors or stockholders is required. Each of this Agreement and the other Transaction
Documents has been duly executed and delivered by the Company and when executed and delivered by all parties hereto and thereto
in accordance with the terms hereof and thereof, will constitute a valid and binding obligation of the Company enforceable against
the Company in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, or
similar laws relating to, or affecting generally the enforcement of, creditors’ rights and remedies or by other equitable
principles of general application.

 

Section
4.3 CAPITALIZATION. As of the Execution
Date, the authorized capital stock of the Company consists of (a) 4,000,000,000 shares of Common Stock, par value of $0.001 per
share, of which approximately 163,802,979 shares of Common Stock were issued and outstanding as of September 25, 2018, and (b)
1,500,005 shares of preferred stock, all of which are issued and outstanding as of the Execution Date. Except as set forth on
Schedule 4.3 or in the SEC Documents, the Company has not issued any capital stock since its most recently filed periodic
report under the Exchange Act, other than pursuant to the exercise of employee stock options under the Company’s stock option
plans, the issuance of shares of Common Stock to employees pursuant to the Company’s employee stock purchase plans and pursuant
to the conversion and/or exercise of Common Stock Equivalents outstanding as of the date of the most recently filed periodic report
under the Exchange Act. Except as set forth on Schedule 4.3, no Person has any right of first refusal, preemptive right,
right of participation, or any similar right to participate in the transactions contemplated by the Transaction Documents. Except
as set forth on Schedule 4.3and as disclosed in the SEC Documents, and except as a result of the purchase and sale of the
Securities, there are no outstanding options, warrants, scrip rights to subscribe to, calls or commitments of any character whatsoever
relating to, or securities, rights or obligations convertible into or exercisable or exchangeable for, or giving any Person any
right to subscribe for or acquire any shares of Common Stock, or contracts, commitments, understandings or arrangements by which
the Company or any Subsidiary is or may become bound to issue additional shares of Common Stock or Common Stock Equivalents. The
issuance and sale of the Securities will not obligate the Company to issue shares of Common Stock or other securities to any Person
(other than the Investor) and will not result in a right of any holder of Company securities to adjust the exercise, conversion,
exchange or reset price under any of such securities. There are no stockholders agreements, voting agreements or other similar
agreements with respect to the Company’s capital stock to which the Company is a party or, to the knowledge of the Company,
between or among any of the Company’s stockholders.

 

    	 	- 9 -	 

    	 

    

 

Section
4.4 LISTING AND MAINTENANCE REQUIREMENTS.
The Common Stock is registered pursuant to Section 12(g) of the Exchange Act, and the Company has taken no action designed to,
or which to its knowledge is likely to have the effect of, terminating the registration of the Common Stock under the Exchange
Act, nor has the Company received any notification that the SEC is contemplating terminating such registration. Except as set
forth on Schedule 4.4, the Company has not, in the twelve (12) months preceding the Execution Date, received notice from
the Principal Market on which the Common Stock is or has been listed or quoted to the effect that the Company is not in compliance
with the listing or maintenance requirements of such Principal Market. The Company is, and has no reason to believe that it will
not in the foreseeable future continue to be, in compliance with all such listing and maintenance requirements.

 

Section
4.5 SEC DOCUMENTS; DISCLOSURE. Except
as set forth on Schedule 4.5, the Company has filed all reports, schedules, forms, statements and other documents required
to be filed by the Company under the Securities Act and the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof,
for the one (1) year preceding the Execution Date (or such shorter period as the Company was required by law or regulation to
file such material) (the foregoing materials, including the exhibits thereto and documents incorporated by reference therein,
being collectively referred to herein as the “SEC Documents”) on a timely basis or has received a valid extension
of such time of filing and has filed any such SEC Documents prior to the expiration of any such extension. As of their respective
dates, the SEC Documents complied in all material respects with the requirements of the Securities Act and the Exchange Act, as
applicable, and other federal laws, rules and regulations applicable to such SEC Documents, and none of the SEC Documents when
filed contained any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary
in order to make the statements therein, in light of the circumstances under which they were made, not misleading. The financial
statements of the Company included in the SEC Documents comply as to form and substance in all material respects with applicable
accounting requirements and the published rules and regulations of the SEC or other applicable rules and regulations with respect
thereto. Such financial statements have been prepared in accordance with generally accepted accounting principles applied on a
consistent basis during the periods involved (except (a) as may be otherwise indicated in such financial statements or the notes
thereto or (b) in the case of unaudited interim statements, to the extent they may not include footnotes or may be condensed or
summary statements) and fairly present in all material respects the financial position of the Company as of the dates thereof
and the results of operations and cash flows for the periods then ended (subject, in the case of unaudited statements, to normal,
immaterial, year-end audit adjustments). There is no transaction, arrangement, or other relationship between the Company and an
unconsolidated or other off balance sheet entity that is not disclosed by the Company in its financial statements or otherwise
that would be reasonably likely to have a Material Adverse Effect. Except with respect to the material terms and conditions of
the transactions contemplated by the Transaction Documents, the Company confirms that neither it nor any other Person acting on
its behalf has provided the Investor or its agents or counsel with any information that it believes constitutes or might constitute
material, non-public information. The Company understands and confirms that the Investor will rely on the foregoing representation
in effecting transactions in securities of the Company.

 

Section
4.6 VALID ISSUANCES. The Securities are
duly authorized and, when issued and paid for in accordance with the applicable Transaction Documents, will be validly issued,
fully paid, and non-assessable, free and clear of all Liens imposed by the Company, other than restrictions on transfer provided
for in the Transaction Documents and under the Securities Act.

 

    	 	- 10 -	 

    	 

    

 

Section
4.7 NO CONFLICTS. The execution, delivery
and performance of this Agreement and the other Transaction Documents by the Company, and the consummation by the Company of the
transactions contemplated hereby and thereby, including, without limitation, the issuance of the Put Shares and the Commitment
Shares do not and will not: (a) result in a violation of the Company’s or any Subsidiary’s certificate or articles
of incorporation, by-laws or other organizational or charter documents, (b) conflict with, or constitute a material default (or
an event that with notice or lapse of time or both would become a material default) under, result in the creation of any Lien
upon any of the properties or assets of the Company or any Subsidiary, or give to others any rights of termination, amendment,
acceleration or cancellation of, any agreement, indenture, instrument or any “lock-up” or similar provision of any
underwriting or similar agreement to which the Company or any Subsidiary is a party, or (c) result in a violation of any federal,
state or local law, rule, regulation, order, judgment or decree (including federal and state securities laws and regulations)
applicable to the Company or any Subsidiary or by which any property or asset of the Company or any Subsidiary is bound or affected
(except for such conflicts, defaults, terminations, amendments, accelerations, cancellations and violations as would not, individually
or in the aggregate, have a Material Adverse Effect), nor is the Company otherwise in violation of, conflict with or in default
under any of the foregoing. The business of the Company is not being conducted in violation of any law, ordinance or regulation
of any governmental entity, except for possible violations that either singly or in the aggregate do not and will not have a Material
Adverse Effect. The Company is not required under federal, state or local law, rule or regulation to obtain any consent, authorization
or order of, or make any filing or registration with, any court or governmental agency in order for it to execute, deliver or
perform any of its obligations under this Agreement or the other Transaction Documents (other than any SEC, FINRA or state securities
filings that may be required to be made by the Company in connection with the issuance of the Commitment Shares or subsequent
to any Closing or any registration statement that may be filed pursuant hereto); provided that, for purposes of the representation
made in this sentence, the Company is assuming and relying upon the accuracy of the relevant representations and agreements of
Investor herein.

 

Section
4.8 NO MATERIAL ADVERSE CHANGE. Except
as set forth on Schedule 4.8, no event has occurred that would have a Material Adverse Effect on the Company or any Subsidiary
that has not been disclosed in subsequent SEC filings.

 

Section
4.9 LITIGATION AND OTHER PROCEEDINGS.
Except as disclosed in the SEC Documents or as set forth on Schedule 4.9, there are no actions, suits, investigations,
inquiries or proceedings pending or, to the knowledge of the Company, threatened against or affecting the Company, any Subsidiary
or any of their respective properties, nor has the Company received any written or oral notice of any such action, suit, proceeding,
inquiry or investigation, which would have a Material Adverse Effect or would require disclosure under the Securities Act or the
Exchange Act. No judgment, order, writ, injunction or decree or award has been issued by or, to the knowledge of the Company,
requested of any court, arbitrator or governmental agency which would have a Material Adverse Effect. Except as disclosed on Schedule
4.9, there has not been, and to the knowledge of the Company, there is not pending or contemplated, any investigation by the
SEC involving the Company, any Subsidiary or any current or former director or officer of the Company or any Subsidiary.

 

Section
4.10 REGISTRATION RIGHTS. Except as set
forth on Schedule 4.10, no Person (other than the Investor) has any right to cause the Company to effect the registration
under the Securities Act of any securities of the Company or any Subsidiary.

 

    	 	- 11 -	 

    	 

    

 

Section
4.11 INVESTOR’S STATUS. The Company
acknowledges and agrees that the Investor is acting solely in the capacity of arm’s length purchaser with respect to the
Transaction Documents and the transactions contemplated hereby and thereby. The Company further acknowledges that the Investor
is not acting as a financial advisor or fiduciary of the Company (or in any similar capacity) with respect to the Transaction
Documents and the transactions contemplated hereby and thereby and any advice given by the Investor or any of its representatives
or agents in connection with the Transaction Documents and the transactions contemplated hereby and thereby is merely incidental
to the Investor’s purchase of the Securities. The Company further represents to the Investor that the Company’s decision
to enter into the Transaction Documents has been based solely on the independent evaluation by the Company and its representatives
and advisors.

 

Section
4.12 NO GENERAL SOLICITATION; NO INTEGRATED
OFFERING. Neither the Company, any Subsidiary, nor any of their respective affiliates, nor any Person acting on their behalf,
has engaged in any form of general solicitation or general advertising (within the meaning of Regulation D under the Securities
Act) in connection with the offer or sale of the Securities. Neither the Company, any Subsidiary, nor any of their respective
affiliates, nor any Person acting on their behalf has, directly or indirectly, made any offers or sales of any security or solicited
any offers to buy any security, under circumstances that would require registration of the offer and sale of any of the Securities
under the Securities Act, whether through integration with prior offerings or otherwise, or cause this offering of the Securities
to be integrated with prior offerings by the Company in a manner that would require stockholder approval pursuant to the rules
of the Principal Market on which any of the securities of the Company are listed or designated. The issuance and sale of the Securities
hereunder does not contravene the rules and regulations of the Principal Market.

 

Section
4.13 TRANSACTIONS WITH AFFILIATES. Except
as set forth in the SEC Documents, none of the officers or directors of the Company or any Subsidiary, and to the knowledge of
the Company, none of the employees of the Company or any Subsidiary is presently a party to any transaction with the Company or
any Subsidiary (other than for services as employees, officers and directors), including any contract, agreement or other arrangement
providing for the furnishing of services to or by, providing for rental of real or personal property to or from, or otherwise
requiring payments to or from any officer, director or such employee or, to the knowledge of the Company, any entity in which
any officer, director, or any such employee has a substantial interest or is an officer, director, trustee or partner, in each
case in excess of the lesser of (i) $120,000 or (ii) one percent of the average of the Company’s total assets at year end
for the last two completed fiscal years, other than for (i) payment of salary or consulting fees for services rendered, (ii) reimbursement
for expenses incurred on behalf of the Company or any Subsidiary and (iii) other employee benefits, including stock option agreements
under any stock option plan of the Company.

 

Section
4.14 CERTAIN FEES. No brokerage or finder’s
fees or commissions are or will be required to be payable by 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 Transaction Documents;
provided, that in connection with the transactions contemplated by the Transaction Documents, the Company may elect to pay certain
investment banking fees to its advisors as the Company determines in its sole discretion which shall be disclosed in writing to
the Investor. The Investor 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 4.14 that may be due in connection with the transactions
contemplated by the Transaction Documents.

 

Section
4.15 INVESTMENT COMPANY. The Company is
not an “investment company” within the meaning of the Investment Company Act of 1940, as amended.

 

    	 	- 12 -	 

    	 

    

 

Section
4.16 ACCOUNTANTS. The Company’s
accountants are set forth in the SEC Documents and, to the knowledge of the Company, such accountants are an independent registered
public accounting firm as required by the Securities Act.

 

Section
4.17 NO MARKET MANIPULATION. Neither the
Company, nor any Subsidiary has, and to its knowledge no Person acting on either of their behalf has, (i) taken, directly or indirectly,
any action designed to cause or to result in the stabilization or manipulation of the price of any security of the Company to
facilitate the sale or resale of any of the Securities, (ii) sold, bid for, purchased, or, paid any compensation for soliciting
purchases of, any of the Securities, or (iii) paid or agreed to pay to any Person any compensation for soliciting another to purchase
any other securities of the Company.

 

Section
4.18 NO DISQUALIFICATION EVENTS. None
of the Company, any Subsidiary, any of their predecessors, any affiliated issuer, any director, executive officer, other officer
of the Company or any Subsidiary participating in the offering contemplated hereby, any beneficial owner of 20% or more of the
Company’s outstanding voting equity securities, calculated on the basis of voting power, nor any promoter (as that term
is defined in Rule 405 under the Securities Act) connected with the Company in any capacity at the time of sale (each, an “Issuer
Covered Person”) is subject to any of the “Bad Actor” disqualifications described in Rule 506(d)(1)(i) to
(viii) under the Securities Act (a “Disqualification Event”), except for a Disqualification Event covered by
Rule 506(d)(2) or (d)(3) under the Securities Act. The Company has exercised reasonable care to determine whether any Issuer Covered
Person is subject to a Disqualification Event.

 

Section
4.19 SHELL COMPANY STATUS. The Company
is not currently an issuer identified in Rule 144(i)(1)(i) under the Securities Act, is subject to the reporting requirements
of Section 13 or 15(d) of the Exchange Act, has filed all reports and other materials required to be filed by Section 13 or 15(d)
of the Exchange Act, as applicable during the preceding 12 months, and, as of a date at least one year prior to the Execution
Date, has filed current “Form 10 information” with the SEC (as defined in Rule 144(i)(3) of the Securities Act) reflecting
its status as an entity that is no longer an issuer described in Rule 144(i)(1)(i) of the Securities Act.

 

Section
4.20 ABSENCE OF SCHEDULES. In the event
that, at each Closing, the Company does not deliver any disclosure schedule contemplated by this Agreement, the Company hereby
acknowledges and agrees that (i) to the extent the Company has (x) previously delivered to the Investor such disclosure schedule,
the information therein has not changed as of such Closing Date, and (y) not previously delivered to the Investor such disclosure
schedule, each such undelivered disclosure schedule shall be deemed to read as follows: “Nothing to Disclose”, and
(ii) the Investor has not otherwise waived delivery of such disclosure schedule.

 

Section
4.21 NO OTHER REPRESENTATIONS. Except
as expressly set forth in this Agreement, none of the Company or any Subsidiaries make any further representations or warranties,
express or implied, and any such representations and warranties are hereby expressly disclaimed.

 

    	 	- 13 -	 

    	 

    

 

Article
V

COVENANTS OF INVESTOR

 

Section
5.1 COMPLIANCE WITH LAW; TRADING IN SECURITIES.
The Investor’s trading activities with respect to shares of Common Stock will be in compliance with all applicable state
and federal securities laws and regulations and the rules and regulations of FINRA and the Principal Market.

 

Section
5.2 SHORT SALES AND CONFIDENTIALITY. Neither
the Investor, nor any affiliate of the Investor acting on its behalf or pursuant to any understanding with it, will execute any
Short Sales during the period from the Execution Date to the end of the Commitment Period. For the purposes hereof, and in accordance
with Regulation SHO, the sale after delivery of a Put Notice of such number of shares of Common Stock reasonably expected to be
purchased under a Put Notice shall not be deemed a Short Sale. The Investor shall, until such time as the transactions contemplated
by this Agreement are publicly disclosed by the Company in accordance with the terms of this Agreement, maintain the confidentiality
of the existence and terms of this transaction and the information included in the Transaction Documents. The Investor agrees
not to disclose any Confidential Information of the Company to any third party, except for the Investor’s attorneys, accountants
and advisors who have a need to know such Confidential Information and are bound by confidential agreement in writing, shall not
use any Confidential Information for any purpose other than in connection with, or in furtherance of, the transactions contemplated
hereby and will employ reasonable efforts to preserve the confidentiality of the Confidential Information, and will, in any event,
ensure that Investor’s attorneys, accountants and advisors employ at least the same practices used to protect their own
confidential information of similar nature. The Investor acknowledges that the Confidential Information of the Company shall remain
the property of the Company and agrees that it shall take all reasonable measures to protect the secrecy of any Confidential Information
disclosed by the Company.

 

Section
5.3 LEAK OUT. For a period of 180 days
from the Execution Date, the Investor agrees not to sell, on any given day, a number of Commitment Shares that exceeds the greater
of (i) 5% of the average daily trading volume of the Common Stock for the period ended one Trading Day prior to the date of such
sale, as reported on the Principal Market; and (ii) such number of Commitment Shares that equals (A) US$5,000, divided by, (B)
the closing price of the Common Stock one Trading Day prior to the date of such sale, as reported on the Principal Market.

 

Article
VI

COVENANTS OF THE COMPANY

 

Section
6.1 RESERVATION OF COMMON STOCK. On the
Execution Date, the Company will have executed and delivered the Transfer Agent Instruction Letter to, among other things, reserve
462,071,621 shares of Common Stock from its authorized and unissued Common Stock to provide for issuances of Common Stock under
the Transaction Documents including any Commitment Shares (the “Share Reserve”). The Company further agrees
to add additional shares of Common Stock to the Share Reserve in an amount of shares reasonably requested by the Investor if as
of the date of any such request the number of shares being held in the Share Reserve is less than three (3) times the number of
shares of Common Stock obtained by dividing the remaining balance on the Maximum Commitment Amount as of the date of the request
by the Purchase Price. The Company shall further require the Transfer Agent to hold the shares of Common Stock reserved pursuant
to the Share Reserve exclusively for the benefit of the Investor. The Company agrees that in the event that the Transfer Agent
resigns as the Company’s transfer agent, the Company shall engage a suitable replacement transfer agent that will agree
to serve as transfer agent for the Company and be bound by the terms and conditions of the Transfer Agent Instruction Letter within
five (5) business days. The Company shall not terminate the Transfer Agent as the Company’s transfer agent without written
consent from the Investor, which shall not be unreasonably conditioned, withheld or delayed. In the event this Agreement is terminated,
the Investor agrees promptly after the termination date to deliver to the Transfer Agent written instructions to cancel the Share
Reserve, which shall expressly direct the Transfer Agent to continue to observe and satisfy its obligations to the Investor regarding
the removal of restrictive legends from shares held by the Investor.

 

    	 	- 14 -	 

    	 

    

 

Section
6.2 LISTING OF COMMON STOCK. The Company
shall promptly secure the listing of all of the Put Shares and Commitment Shares to be issued to the Investor hereunder on the
Principal Market (subject to official notice of issuance), if required, and shall use commercially reasonable best efforts to
maintain, so long as any shares of Common Stock shall be so listed, the listing of all such Put Shares and Commitment Shares from
time to time issuable hereunder. The Company shall use its commercially reasonable efforts to continue the listing and trading
of the Common Stock on the Principal Market (including, without limitation, maintaining sufficient net tangible assets) and will
comply in all respects with the Company’s reporting, filing and other obligations under the bylaws or rules of FINRA and
the Principal Market. The Company shall not take any action that would reasonably be expected to result in the delisting or suspension
of the Common Stock on the Principal Market. The Company shall promptly, and in no event later than the following Trading Day
after receiving such notice, provide to the Investor copies of any notices it receives from any Person regarding the continued
eligibility of the Common Stock for listing on the Principal Market. The Company shall pay all fees and expenses in connection
with satisfying its obligations under this Section 6.2, other than any expenses of the Investor in connection herewith.
The Company shall take all action necessary to ensure that its Common Stock can be transferred electronically as DWAC Shares.

 

Section
6.3 OTHER EQUITY LINES AND CONVERTIBLE NOTES.
So long as this Agreement remains in effect, the Company covenants and agrees that after the date hereof, it will not, without
the prior written consent of the Investor, enter into any other equity line of credit agreement with any other party or have any
Variable Security Holders, excluding the Investor, without the Investor’s prior written consent, which consent shall not
be unreasonably withheld, conditioned or delayed; provided that any financing consummated via an underwriting offering or through
a placement agent shall not require Investor’s consent. For the avoidance of doubt, nothing contained in the Transaction
Documents shall restrict, or require the Investor’s consent for, any agreement providing for the issuance or distribution
of any equity securities of the Company pursuant to any agreement or arrangement that is not covered in this Section 6.3.

 

Section
6.4 FILING OF CURRENT REPORT AND REGISTRATION
STATEMENT. The Company agrees that it shall file a Current Report on Form 8-K, including the Transaction Documents as exhibits
thereto, with the SEC within the time required by the Exchange Act, relating to the transactions contemplated by, and describing
the material terms and conditions of, the Transaction Documents (the “Current Report”). The Company shall permit
the Investor to review and comment upon the final pre-filing draft version of the Current Report at least two (2) Trading Days
prior to its filing with the SEC, and the Company shall give reasonable consideration to all such comments. The Investor shall
use its reasonable best efforts to comment upon the final pre-filing draft version of the Current Report within one (1) Trading
Day from the date the Investor receives it from the Company. Subject to the terms of the Registration Rights Agreement and provided
that this Agreement has not been terminated, the Company shall file with the SEC, on or before January 5, 2019, a registration
statement on Form S-1 (the “Registration Statement”) covering only the resale of the Put Shares and Commitment
Shares.

 

    	 	- 15 -	 

    	 

    

 

Section
6.5 ISSUANCE OF COMMITMENT SHARES. In
consideration for the Investor’s execution and delivery of, and performance under this Agreement, the Company shall cause
the Transfer Agent to issue the Commitment Shares to the Investor on the Execution Date as set forth in the Transfer Agent Instruction
Letter. For the avoidance of doubt, all of the Commitment Shares shall be fully earned as of the Execution Date, and the issuance
of the Commitment Shares is not contingent upon any other event or condition, including, without limitation, the effectiveness
of the Registration Statement or the Company’s submission of a Put Notice to the Investor and irrespective of any termination
of this Agreement.

 

Section
6.6 PURCHASE RECORDS. The Company shall
maintain records showing the Available Amount at any given time and the date, Investment Amount and Put Shares for each Put, contained
in the applicable Put Notice.

 

Section
6.7 TAXES. The Company shall pay any and
all transfer, stamp or similar taxes that may be payable under the laws of the United States with respect to the issuance and
delivery of any shares of Common Stock to the Investor made under this Agreement.

 

Section
6.8 USE OF PROCEEDS. The Company will
use the net proceeds from the offering of Put Shares for general working capital.

 

Section
6.9 INTEGRATION. In any case subject to
the terms of the Registration Rights Agreement, from and after the Execution Date, neither the Company, nor or any of its Subsidiaries
or affiliates will, and the Company shall use its reasonable best efforts to ensure that no Person acting on their behalf will,
directly or indirectly, make any offers or sales of any security or solicit any offers to buy any security, under circumstances
that would require registration of the offer and sale of any of the Securities under the Securities Act.

 

Section
6.10 TRANSACTION DOCUMENTS. On the Execution
Date, the Company shall deliver to the Investor executed copies of all of the Transaction Documents.

 

Article
VII

CONDITIONS TO DELIVERY OF PUT NOTICES AND CONDITIONS TO CLOSING

 

Section
7.1 CONDITIONS PRECEDENT TO THE RIGHT OF THE
COMPANY TO ISSUE AND SELL PUT SHARES. The right of the Company to issue and sell the Put Shares to the Investor is subject
to the satisfaction of each of the conditions set forth below:

 

(a)
ACCURACY OF INVESTOR’S REPRESENTATIONS
AND WARRANTIES. The representations and warranties of the Investor shall be true and correct in all material respects as of
the Execution Date and as of the date of each Closing as though made at each such time.

 

(b)
PERFORMANCE BY INVESTOR. Investor shall
have performed, satisfied and complied in all respects with all covenants, agreements and conditions required by this Agreement
to be performed, satisfied or complied with by the Investor at or prior to such Closing.

 

(c)
PRINCIPAL MARKET REGULATION. The Company
shall not issue any Put Shares, and the Investor shall not have the right to receive any Put Shares, if the issuance of such Put
Shares would exceed the aggregate number of shares of Common Stock which the Company may issue without breaching the Company’s
obligations under the rules or regulations of the Principal Market (the “Exchange Cap”).

 

    	 	- 16 -	 

    	 

    

 

Section
7.2 CONDITIONS PRECEDENT TO THE OBLIGATION
OF INVESTOR TO PURCHASE PUT SHARES. The obligation of the Investor hereunder to purchase Put Shares is subject to the satisfaction
of each of the following conditions:

 

(a)
REGISTRATION STATEMENT. The Registration
Statement, and any amendment or supplement thereto, shall be and remain effective for the resale by the Investor of the Put Shares
and Commitment Shares and (i) neither the Company nor the Investor shall have received notice that the SEC has issued or intends
to issue a stop order with respect to such Registration Statement or that the SEC otherwise has suspended or withdrawn the effectiveness
of such Registration Statement, either temporarily or permanently, or intends or has threatened to do so and (ii) no other suspension
of the use of, or withdrawal of the effectiveness of, such Registration Statement or related prospectus shall exist. The Company
shall have prepared and filed with the SEC a final and complete prospectus (the preliminary form of which shall be included in
the Registration Statement) and shall have electronically delivered to the Investor a true and complete copy thereof. Such final
prospectus shall be current and available for the resale by the Investor of all of the Securities covered thereby. For the avoidance
of doubt, any filing available to the Investor via the SEC’s live EDGAR system shall be deemed “delivered” hereunder.

 

(b)
ACCURACY OF THE COMPANY’S REPRESENTATIONS
AND WARRANTIES. The representations and warranties of the Company shall be true and correct in all material respects as of
the Execution Date and as of the date of each Closing (except for representations and warranties under the first sentence of Section
4.3, which are specifically made as of the Execution Date and shall be true and correct in all respects as of the Execution
Date).

 

(c)
PERFORMANCE BY THE COMPANY. The Company
shall have performed, satisfied and complied in all material respects with all covenants, agreements and conditions required by
this Agreement to be performed, satisfied or complied with by the Company.

 

(d)
NO INJUNCTION. No statute, rule, regulation,
executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or adopted by any court or governmental
authority of competent jurisdiction that prohibits or directly and materially adversely affects any of the transactions contemplated
by the Transaction Documents, and no proceeding shall have been commenced that may have the effect of prohibiting or materially
adversely affecting any of the transactions contemplated by the Transaction Documents.

 

(e)
ADVERSE CHANGES. Since the date of filing
of the Company’s most recent SEC Document, no event that had or is reasonably likely to have a Material Adverse Effect has
occurred.

 

(f)
NO SUSPENSION OF TRADING IN OR DELISTING OF
COMMON STOCK. The trading of the Common Stock shall not have been suspended by the SEC, the Principal Market or FINRA, or
otherwise halted for any reason, and the Common Stock shall have been approved for listing or quotation on and shall not have
been delisted from the Principal Market. In the event of a suspension, delisting, or halting for any reason, of the trading of
the Common Stock, as contemplated by this Section 7.2(f), the Investor shall have the right to return to the Company any
remaining amount of Put Shares associated with such Put, and the Purchase Price with respect to such Put shall be reduced accordingly.

 

    	 	- 17 -	 

    	 

    

 

(g)
BENEFICIAL OWNERSHIP LIMITATION. The number
of Put Shares to be purchased by the Investor shall not exceed the number of such shares that, when aggregated with all other
shares of Common Stock then owned by the Investor beneficially or deemed beneficially owned by the Investor, would result in the
Investor owning more than the Beneficial Ownership Limitation (as defined below), as determined in accordance with Section 16
of the Exchange Act and the regulations promulgated thereunder. For purposes of this Section 7.2(g), in the event that
the amount of Common Stock outstanding, as determined in accordance with Section 16 of the Exchange Act and the regulations promulgated
thereunder, is greater on a Closing Date than on the date upon which the Put Notice associated with such Closing Date is given,
the amount of Common Stock outstanding on such Closing Date shall govern for purposes of determining whether the Investor, when
aggregating all purchases of Common Stock made pursuant to this Agreement, would own more than the Beneficial Ownership Limitation
following such Closing Date. The “Beneficial Ownership Limitation” shall be 9.99% of the number of shares of
the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable pursuant to a
Put Notice.

 

(h)
PRINCIPAL MARKET REGULATION. The issuance
of the Put Shares shall not exceed the Exchange Cap.

 

(i)
NO KNOWLEDGE. The Company shall have no
knowledge of any event more likely than not to have the effect of causing the Registration Statement to be suspended or otherwise
ineffective (which event is more likely than not to occur within the fifteen (15) Trading Days following the Trading Day on which
such Put Notice is deemed delivered). The Company shall have no knowledge of any untrue statement (or alleged untrue statement)
of a material fact or omission (or alleged omission) of a material fact required to be stated therein or necessary to make the
statements therein, in light of the circumstances under which they were made, not misleading, in the Registration Statement, any
effective registration statement filed pursuant to the Registration Rights Agreement or any post-effective amendment or prospectus
which is a part of the foregoing, unless the Company has filed an amendment with the SEC or taken such other.

 

(j)
NO VIOLATION OF SHAREHOLDER APPROVAL REQUIREMENT.
The issuance of the Put Shares shall not violate the shareholder approval requirements of the Principal Market.

 

(k)
OFFICER’S CERTIFICATE. On the date
of delivery of each Put Notice, the Investor shall have received the Closing Certificate executed by an executive officer of the
Company and to the effect that all the conditions to such Closing shall have been satisfied as of the date of each such certificate.

 

(l)
DWAC ELIGIBLE. The Common Stock must be
DWAC Eligible and not subject to a “DTC chill.”

 

(m)
SEC DOCUMENTS. All reports, schedules,
registrations, forms, statements, information and other documents required to have been filed by the Company with the SEC pursuant
to the reporting requirements of the Exchange Act (other than Forms 8-K) shall have been filed with the SEC within the applicable
time periods prescribed for such filings under the Exchange Act.

 

    	 	- 18 -	 

    	 

    

 

(n)
TRANSFER AGENT INSTRUCTION LETTER. The
Transfer Agent Instruction Letter shall have been executed and delivered by the Company to the Transfer Agent and acknowledged
and agreed to in writing by the Transfer Agent, and the Company shall have no knowledge of any fact or circumstance that would
prevent the Transfer Agent from complying with the terms of the Transfer Agent Instruction Letter.

 

(o)
RESERVE. The Company shall have caused
the Transfer Agent to maintain the Share Reserve and have added any additional sufficient shares to the Share Reserve pursuant
to Section 6.1.

 

(p)
MINIMUM PRICING. The lowest traded price
of the Common Stock in the five (5) Trading Days immediately preceding the respective Put Date must exceed $0.0001 per share.

 

(q)
NO VIOLATION. No statute, regulation,
order, guidance, decree, writ, ruling or injunction shall have been enacted, entered, promulgated, threatened or endorsed by any
applicable federal, state, local or foreign court or governmental authority of competent jurisdiction, including, without limitation,
the SEC, which prohibits the consummation of or which would materially modify or delay any of the transactions contemplated by
the Transaction Documents.

 

Article
VIII

LEGENDS

 

Section
8.1 NO RESTRICTIVE STOCK LEGEND. No restrictive
stock legend shall be placed on the share certificates representing the Put Shares.

 

Section
8.2 INVESTOR’S COMPLIANCE. Nothing
in this Article VIII shall affect in any way the Investor’s obligations hereunder to comply with all applicable securities
laws upon the sale of the Common Stock.

 

Article
IX

NOTICES; INDEMNIFICATION

 

Section
9.1 NOTICES. All notices, demands, requests,
consents, approvals, and other communications required or permitted hereunder shall be in writing and, unless otherwise specified
herein, shall be (a) personally served, (b) deposited in the mail, registered or certified, return receipt requested, postage
prepaid, (c) delivered by reputable air courier service with charges prepaid, or (d) transmitted by hand delivery, telegram, or
e-mail as a PDF, addressed as set forth below or to such other address as such party shall have specified most recently by written
notice given in accordance herewith. Any notice or other communication required or permitted to be given hereunder shall be deemed
effective (i) upon hand delivery or delivery by e-mail at the address designated below (if delivered on a business day during
normal business hours where such notice is to be received), or the first business day following such delivery (if delivered other
than on a business day during normal business hours where such notice is to be received) or (ii) on the third business day following
the date of mailing by express courier service or on the fifth business day after deposited in the mail, in each case, fully prepaid,
addressed to such address, or upon actual receipt of such mailing, whichever shall first occur.

 

    	 	- 19 -	 

    	 

    

 

The
addresses for such communications shall be:

 

If
to the Company:

 

Propanc
Biopharma, Inc.

302,
6 Butler Street

Camberwell,
VIC, 3124 Australia

Email:
(at such email address separately provided to the Investor)

Attention:
James Nathanielsz, Chief Executive Officer

 

with
a copy to (that shall not constitute notice)

 

Foley
Shechter LLP

211
East 43rd Street, Seventh Floor

New
York, NY 10017

E-mail:
js@foleyshechter.com

Attention:
Jonathan Shechter, Esq.

 

If
to the Investor:

 

L2
Capital, LLC

208
Ponce de Leon Ave., Suite 1600

San
Juan, PR 00918

Email:
investments@ltwocapital.com

Attention:
Adam Long, Managing Partner

 

with
a copy to (that shall not constitute notice)

 

K&L
Gates LLP

200
S. Biscayne Blvd., Suite 3900

Miami,
FL 33131

E-mail:
john.owens@klgates.com

Attention:
John D. Owens, III, Esq.

 

Either
party hereto may from time to time change its address or e-mail for notices under this Section 9.1 by giving at least ten
(10) days’ prior written notice of such changed address to the other party hereto.

 

Section
9.2 INDEMNIFICATION. Each party hereto
(an “Indemnifying Party”) agrees to indemnify and hold harmless the other party along with its officers, directors,
employees, and authorized agents and representatives, and each Person or entity, if any, who controls such party within the meaning
of Section 15 of the Securities Act or Section 20 of the Exchange Act or the rules and regulations thereunder (an “Indemnified
Party”) from and against any and all Damages, joint or several, and any and all actions in respect thereof to which
the Indemnified Party becomes subject to, resulting from, arising out of or relating to (i) any misrepresentation, breach of warranty
or nonfulfillment of or failure to perform any covenant or agreement on the part of the Indemnifying Party contained in this Agreement,
(ii) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement, any registration
statement pursuant to the Registration Rights Agreement or any post-effective amendment thereof or supplement thereto, or the
omission or alleged omission therefrom of a material fact required to be stated therein or necessary to make the statements therein
not misleading, (iii) any untrue statement or alleged untrue statement of a material fact contained in any preliminary prospectus
or contained in the final prospectus (as amended or supplemented, if the Company files any amendment thereof or supplement thereto
with the SEC) or the omission or alleged omission to state therein any material fact necessary to make the statements made therein,
in the light of the circumstances under which the statements therein were made, not misleading, or (iv) any violation or alleged
violation by the Company of the Securities Act, the Exchange Act, any state securities law or any rule or regulation under the
Securities Act, the Exchange Act or any state securities law, as such Damages are incurred, except to the extent such Damages
result primarily from the Indemnified Party’s failure to perform any covenant or agreement contained in this Agreement or
the Indemnified Party’s negligence, recklessness, fraud, willful misconduct or bad faith in performing its obligations under
this Agreement; provided, however, that the foregoing indemnity agreement shall not apply to any Damages of an Indemnified
Party to the extent, but only to the extent, arising out of or based upon any untrue statement or alleged untrue statement or
omission or alleged omission made by an Indemnifying Party in reliance upon and in conformity with written information furnished
to the Indemnifying Party by the Indemnified Party expressly for use in the Registration Statement, any post-effective amendment
thereof or supplement thereto, or any preliminary prospectus or final prospectus (as amended or supplemented).

 

    	 	- 20 -	 

    	 

    

 

Section
9.3 METHOD OF ASSERTING INDEMNIFICATION CLAIMS.
All claims for indemnification by any Indemnified Party under Section 9.2 shall be asserted and resolved as follows:

 

(a)
In the event any claim or demand in respect of
which an Indemnified Party might seek indemnity under Section 9.2 is asserted against or sought to be collected from such
Indemnified Party by a Person other than a party hereto or an affiliate thereof (a “Third Party Claim”), the
Indemnified Party shall deliver a written notification, enclosing a copy of all papers served, if any, and specifying the nature
of and basis for such Third Party Claim and for the Indemnified Party’s claim for indemnification that is being asserted
under any provision of Section 9.2 against an Indemnifying Party, together with the amount or, if not then reasonably ascertainable,
the estimated amount, determined in good faith, of such Third Party Claim (a “Claim Notice”) with reasonable
promptness to the Indemnifying Party. If the Indemnified Party fails to provide the Claim Notice with reasonable promptness after
the Indemnified Party receives notice of such Third Party Claim, the Indemnifying Party shall not be obligated to indemnify the
Indemnified Party with respect to such Third Party Claim to the extent that the Indemnifying Party’s ability to defend has
been prejudiced by such failure of the Indemnified Party. The Indemnifying Party shall notify the Indemnified Party as soon as
practicable within the period ending thirty (30) calendar days following receipt by the Indemnifying Party of either a Claim Notice
or an Indemnity Notice (as defined below) (the “Dispute Period”) whether the Indemnifying Party disputes its
liability or the amount of its liability to the Indemnified Party under Section 9.2 and whether the Indemnifying Party
desires, at its sole cost and expense, to defend the Indemnified Party against such Third Party Claim.

 

(i)
If the Indemnifying Party notifies the Indemnified
Party within the Dispute Period that the Indemnifying Party desires to defend the Indemnified Party with respect to the Third
Party Claim pursuant to this Section 9.3(a), then the Indemnifying Party shall have the right to defend, with counsel reasonably
satisfactory to the Indemnified Party, at the sole cost and expense of the Indemnifying Party, such Third Party Claim by all appropriate
proceedings, which proceedings shall be vigorously and diligently prosecuted by the Indemnifying Party to a final conclusion or
will be settled at the discretion of the Indemnifying Party (but only with the consent of the Indemnified Party in the case of
any settlement that provides for any relief other than the payment of monetary damages or that provides for the payment of monetary
damages as to which the Indemnified Party shall not be indemnified in full pursuant to Section 9.2). The Indemnifying Party
shall have full control of such defense and proceedings, including any compromise or settlement thereof; provided, however,
that the Indemnified Party may, at the sole cost and expense of the Indemnified Party, at any time prior to the Indemnifying Party’s
delivery of the notice referred to in the first sentence of this clause ((i)), file any motion, answer or other pleadings or take
any other action that the Indemnified Party reasonably believes to be necessary or appropriate to protect its interests; and provided,
further, that if requested by the Indemnifying Party, the Indemnified Party will, at the sole cost and expense of the Indemnifying
Party, provide reasonable cooperation to the Indemnifying Party in contesting any Third Party Claim that the Indemnifying Party
elects to contest. The Indemnified Party may participate in, but not control, any defense or settlement of any Third Party Claim
controlled by the Indemnifying Party pursuant to this clause ((i)), and except as provided in the preceding sentence, the Indemnified
Party shall bear its own costs and expenses with respect to such participation. Notwithstanding the foregoing, the Indemnified
Party may takeover the control of the defense or settlement of a Third Party Claim at any time if it irrevocably waives its right
to indemnity under Section 9.2 with respect to such Third Party Claim.

 

    	 	- 21 -	 

    	 

    

 

(ii)
If the Indemnifying Party fails to notify the
Indemnified Party within the Dispute Period that the Indemnifying Party desires to defend the Third Party Claim pursuant to this
Section 9.3(a), or if the Indemnifying Party gives such notice but fails to prosecute vigorously and diligently or settle
the Third Party Claim, or if the Indemnifying Party fails to give any notice whatsoever within the Dispute Period, then the Indemnified
Party shall have the right to defend, at the sole cost and expense of the Indemnifying Party, the Third Party Claim by all appropriate
proceedings, which proceedings shall be prosecuted by the Indemnified Party in a reasonable manner and in good faith or will be
settled at the discretion of the Indemnified Party(with the consent of the Indemnifying Party, which consent will not be unreasonably
withheld). The Indemnified Party will have full control of such defense and proceedings, including any compromise or settlement
thereof; provided, however, that if requested by the Indemnified Party, the Indemnifying Party will, at the sole
cost and expense of the Indemnifying Party, provide reasonable cooperation to the Indemnified Party and its counsel in contesting
any Third Party Claim which the Indemnified Party is contesting. Notwithstanding the foregoing provisions of this clause ((ii)),
if the Indemnifying Party has notified the Indemnified Party within the Dispute Period that the Indemnifying Party disputes its
liability or the amount of its liability hereunder to the Indemnified Party with respect to such Third Party Claim and if such
dispute is resolved in favor of the Indemnifying Party in the manner provided in clause ((iii)) below, the Indemnifying Party
will not be required to bear the costs and expenses of the Indemnified Party’s defense pursuant to this clause ((ii)) or
of the Indemnifying Party’s participation therein at the Indemnified Party’s request, and the Indemnified Party shall
reimburse the Indemnifying Party in full for all reasonable costs and expenses incurred by the Indemnifying Party in connection
with such litigation. The Indemnifying Party may participate in, but not control, any defense or settlement controlled by the
Indemnified Party pursuant to this clause ((ii)), and the Indemnifying Party shall bear its own costs and expenses with respect
to such participation.

 

(iii)
If the Indemnifying Party notifies the Indemnified
Party that it does not dispute its liability or the amount of its liability to the Indemnified Party with respect to the Third
Party Claim under Section 9.2 or fails to notify the Indemnified Party within the Dispute Period whether the Indemnifying
Party disputes its liability or the amount of its liability to the Indemnified Party with respect to such Third Party Claim, the
amount of Damages specified in the Claim Notice shall be conclusively deemed a liability of the Indemnifying Party under Section
9.2 and the Indemnifying Party shall pay the amount of such Damages to the Indemnified Party on demand. If the Indemnifying
Party has timely disputed its liability or the amount of its liability with respect to such Third Party Claim, the Indemnifying
Party and the Indemnified Party shall proceed in good faith to negotiate a resolution of such dispute; provided, however,
that if the dispute is not resolved within thirty (30) days after the Claim Notice, the Indemnifying Party shall be entitled to
institute such legal action as it deems appropriate.

 

    	 	- 22 -	 

    	 

    

 

(b)
In the event any Indemnified Party should have
a claim under Section 9.2 against the Indemnifying Party that does not involve a Third Party Claim, the Indemnified Party
shall deliver a written notification of a claim for indemnity under Section 9.2 specifying the nature of and basis for
such claim, together with the amount or, if not then reasonably ascertainable, the estimated amount, determined in good faith,
of such claim (an “Indemnity Notice”) with reasonable promptness to the Indemnifying Party. The failure by
any Indemnified Party to give the Indemnity Notice shall not impair such party’s rights hereunder except to the extent that
the Indemnifying Party demonstrates that it has been irreparably prejudiced thereby. If the Indemnifying Party notifies the Indemnified
Party that it does not dispute the claim or the amount of the claim described in such Indemnity Notice or fails to notify the
Indemnified Party within the Dispute Period whether the Indemnifying Party disputes the claim or the amount of the claim described
in such Indemnity Notice, the amount of Damages specified in the Indemnity Notice will be conclusively deemed a liability of the
Indemnifying Party under Section 9.2 and the Indemnifying Party shall pay the amount of such Damages to the Indemnified
Party on demand. If the Indemnifying Party has timely disputed its liability or the amount of its liability with respect to such
claim, the Indemnifying Party and the Indemnified Party shall proceed in good faith to negotiate a resolution of such dispute;
provided, however, that if the dispute is not resolved within thirty (30) days after the Claim Notice, the Indemnifying Party
shall be entitled to institute such legal action as it deems appropriate.

 

(c)
The Indemnifying Party agrees to pay the Indemnified
Party, promptly as such expenses are incurred and are due and payable, for any reasonable legal fees or other reasonable expenses
incurred by them in connection with investigating or defending any such claim.

 

(d)
The indemnity provisions contained herein shall
be in addition to (i) any cause of action or similar rights of the Indemnified Party against the Indemnifying Party or others,
and (ii) any liabilities the Indemnifying Party may be subject to.

 

Article
X

MISCELLANEOUS

 

Section
10.1 GOVERNING LAW. This Agreement shall
be governed by and interpreted in accordance with the laws of the State of Kansas without regard to the principles of conflicts
of law (whether of the State of Kansas or any other jurisdiction).

 

Section
10.2 ARBITRATION. Any disputes, claims,
or controversies arising out of or relating to the Transaction Documents, or the transactions, contemplated thereby, or the breach,
termination, enforcement, interpretation or validity thereof, including the determination of the scope or applicability of this
Agreement to arbitrate, shall be referred to and resolved solely and exclusively by binding arbitration to be conducted before
the Judicial Arbitration and Mediation Service (“JAMS” ), or its successor pursuant the expedited procedures
set forth in the JAMS Comprehensive Arbitration Rules and Procedures (the “Rules” ), including Rules 16.1 and
16.2 of those Rules. The arbitration shall be held in New York, New York, before a tribunal consisting of one (1) arbitrator who
will be selected in accordance with the “strike and rank” methodology set forth in Rule 15. Either party to this Agreement
may, without waiving any remedy under this Agreement, seek from any federal or state court sitting in the City of New York, NY
any interim or provisional relief that is necessary to protect the rights or property of that party, pending the establishment
of the arbitral tribunal. The costs and expenses of such arbitration shall be paid by and be the sole responsibility of the Company,
including but not limited to the Investor’s attorneys’ fees and each arbitrator’s fees. The arbitrators’
decision must set forth a reasoned basis for any award of damages or finding of liability. The arbitrators’ decision and
award will be made and delivered as soon as reasonably possibly and in any case within sixty (60) days’ following the conclusion
of the arbitration hearing and shall be final and binding on the parties and may be entered by any court having jurisdiction thereof.

 

    	 	- 23 -	 

    	 

    

 

Section
10.3 JURY TRIAL WAIVER. THE COMPANY
AND THE INVESTOR HEREBY WAIVE A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM BROUGHT BY EITHER OF THE PARTIES HERETO
AGAINST THE OTHER IN RESPECT OF ANY MATTER ARISING OUT OF OR IN CONNECTION WITH THE TRANSACTION DOCUMENTS.

 

Section
10.4 ASSIGNMENT. This Agreement shall
be binding upon and inure to the benefit of the Company and the Investor and their respective successors. Neither this Agreement
nor any rights of the Investor or the Company hereunder may be assigned by either party to any other Person.

 

Section
10.5 NO THIRD PARTY BENEFICIARIES. This
Agreement is intended for the benefit of the Company and the Investor and their respective successors, and is not for the benefit
of, nor may any provision hereof be enforced by, any other Person, except as set forth in Article IX.

 

Section
10.6 TERMINATION. The Company may terminate
this Agreement at any time by written notice to the Investor, except while the Investor holds any of the Put Shares. In addition,
this Agreement shall automatically terminate on the earlier of (i) the end of the Commitment Period; (ii) the date that the Company
sells and the Investor purchases the Maximum Commitment Amount; or (iii) the date in which the Registration Statement is no longer
effective, or (iv) the date that, pursuant to or within the meaning of any Bankruptcy Law, the Company commences a voluntary case
or any Person commences a proceeding against the Company, a Custodian is appointed for the Company or for all or substantially
all of its property or the Company makes a general assignment for the benefit of its creditors; provided, however,
that the provisions of Articles III, IV, V, VI, IX and the agreements and covenants of the
Company and the Investor set forth in Article X shall survive the termination of this Agreement for the maximum length
of time allowed under applicable law.

 

Section
10.7 ENTIRE AGREEMENT. The Transaction
Documents, together with the exhibits and schedules thereto, contain the entire understanding of the Company and the Investor
with respect to the matters covered herein and therein and supersede all prior agreements and understandings, oral or written,
with respect to such matters, which the parties acknowledge have been merged into such documents, exhibits and schedules.

 

Section
10.8 FEES AND EXPENSES. Except as expressly
set forth in the Transaction Documents or any other writing to the contrary, each party shall pay the fees and expenses of its
advisers, counsel, accountants and other experts, if any, and all other expenses incurred by such party incident to the negotiation,
preparation, execution, delivery and performance of the Transaction Documents. The Company shall pay all Transfer Agent fees (including,
without limitation, any fees required for same-day processing of any instruction letter delivered by the Company), stamp taxes
and other United States taxes and duties levied in connection with the delivery of any Securities to the Investor. In addition,
the Investor shall withhold $15,000.00 from the Investment Amount with respect to the first Put under this Agreement for reimbursement
of Investor’s legal fees relating to the preparation of the Transaction Documents.

 

    	 	- 24 -	 

    	 

    

 

Section
10.9 COUNTERPARTS. This Agreement may
be executed in multiple counterparts, each of which may be executed by less than all of the parties and shall be deemed to be
an original instrument which shall be enforceable against the parties actually executing such counterparts and all of which together
shall constitute one and the same instrument. This Agreement may be delivered to the other parties hereto by e-mail of a copy
of this Agreement bearing the signature of the parties so delivering this Agreement.

 

Section
10.10 SEVERABILITY. In the event that
any provision of this Agreement becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void,
this Agreement shall continue in full force and effect without said provision; provided that such severability shall be ineffective
if it materially changes the economic benefit of this Agreement to any party.

 

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

 

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

 

Section
10.13 EQUITABLE RELIEF. The Company acknowledges
that a breach by it of its obligations hereunder will cause irreparable harm to the Investor by vitiating the intent and purpose
of the transaction contemplated hereby. Accordingly, the Company acknowledges that the remedy at law for a breach of its obligations
under this Agreement will be inadequate and agrees, in the event of a breach or threatened breach by the Company of the provisions
of this Agreement, that the Investor shall be entitled, in addition to all other available remedies at law or in equity, and in
addition to the penalties assessable herein, to an injunction or injunctions restraining, preventing or curing any breach of this
Agreement and to enforce specifically the terms and provisions hereof, without the necessity of showing economic loss and without
any bond or other security being required.

 

Section
10.14 TITLE AND SUBTITLES. The titles
and subtitles used in this Agreement are used for the convenience of reference and are not to be considered in construing or interpreting
this Agreement.

 

Section
10.15 AMENDMENTS; WAIVERS. No provision
of this Agreement may be amended or waived by the parties from and after the date that is one (1) Trading Day immediately preceding
the initial filing of the Registration Statement with the SEC. Subject to the immediately preceding sentence, (i) no provision
of this Agreement may be amended other than by a written instrument signed by both parties hereto and (ii) no provision of this
Agreement may be waived other than in a written instrument signed by the party against whom enforcement of such waiver is sought.
No failure or delay in the exercise of any power, right or privilege hereunder shall operate as a waiver thereof, nor shall any
single or partial exercise of any such power, right or privilege preclude other or further exercise thereof or of any other right,
power or privilege.

 

Section
10.16 PUBLICITY. The Company and the Investor
shall consult with each other in issuing any press releases or otherwise making public statements with respect to the transactions
contemplated hereby and no party shall issue any such press release or otherwise make any such public statement, other than as
required by law, without the prior written consent of the other parties, which consent shall not be unreasonably withheld, conditioned
or delayed, except that no prior consent shall be required if such disclosure is required by law, in which such case the disclosing
party shall provide the other party with prior notice of such public statement. Notwithstanding the foregoing, the Company shall
not publicly disclose the name of the Investor without the prior written consent of the Investor, except to the extent required
by law. The Investor acknowledges that this Agreement and all or part of the Transaction Documents may be deemed to be “material
contracts,” as that term is defined by Item 601(b)(10) of Regulation S-K, and that the Company may therefore be required
to file such documents as exhibits to reports or registration statements filed under the Securities Act or the Exchange Act. The
Investor further agrees that the status of such documents and materials as material contracts shall be determined solely by the
Company, in consultation with its counsel.

 

**
Signature Page Follows **

 

    	 	- 25 -	 

    	 

    

 

IN
WITNESS WHEREOF, the parties have caused this Agreement to be duly executed by their respective officers thereunto duly authorized
as of the Execution Date.

 

	 	PROPANC
    BIOPHARMA, INC.
	 	 	 
	 	By:	/s/
    James Nathanielsz
	 	Name:	James
    Nathanielsz
	 	Title:	Chief
    Executive Officer
	 	 	 
	 	L2
    CAPITAL, LLC
	 	 	 
	 	By:	/s/
    Adam R. Long
	 	Name:	Adam
    R. Long
	 	Title:	Managing
    Partner

 

**
Signature Page to equity purchase agreement **

 

    	 	 	 

    	 

    

 

EXHIBIT
A

 

FORM
OF PUT NOTICE

 

TO:
L2 CAPITAL, LLC

 

DATE:                                            

 

We
refer to the Equity Purchase Agreement, dated October 5, 2018 (the “Agreement”), entered into by and between
Propanc Biopharma, Inc. and you. Capitalized terms defined in the Agreement shall, unless otherwise defined herein, have the same
meaning when used herein.

 

We
hereby:

 

1)
Give you notice that we require you to purchase                           
Put Shares; and

 

2)
The purchase price per share, pursuant to the terms of the Agreement, is                                         ;
and

 

3)
Certify that, as of the date hereof, the conditions set forth in Section 7.2 of the Agreement are satisfied.

 

	 	PROPANC
    BIOPHARMA, INC.
	 	 	 
	 	By:
    	 
	 	Name:
    	James
    Nathanielsz
	 	Title:
    	Chief
    Executive Officer

 

    	 	 	 

    	 

    

 

EXHIBIT
B

 

FORM
OF OFFICER’S CERTIFICATE

OF
PROPANC BIOPHARMA, INC.

 

Pursuant
to Section 7.2(k) of that certain Equity Purchase Agreement, dated October 5, 2018 (the “Agreement”),
by and between Propanc Biopharma, Inc. (the “Company”) and L2 Capital, LLC (the “Investor”),
the undersigned, in his capacity as the Chief Executive Officer of the Company, and not in his individual capacity, hereby certifies,
as of the date hereof (such date, the “Condition Satisfaction Date”), the following:

 

1.
The representations and warranties of the Company contained in the Agreement are true and correct in all material respects as
of the Condition Satisfaction Date as though made on the Condition Satisfaction Date (except for representations and warranties
specifically made as of a particular date) with respect to all periods, and as to all events and circumstances occurring or existing
to and including the Condition Satisfaction Date, except for any conditions which have temporarily caused any representations
or warranties of the Company set forth in the Agreement to be incorrect and which have been corrected with no continuing impairment
to the Company or the Investor; and

 

2.
All of the conditions precedent to the obligation of the Investor to purchase Put Shares set forth in the Agreement, including
but not limited to Section 7.2 of the Agreement, have been satisfied as of the Condition Satisfaction Date.

 

Capitalized
terms used herein shall have the meanings set forth in the Agreement unless otherwise defined herein.

 

IN
WITNESS WHEREOF, the undersigned has hereunto affixed his hand as of the 5th day of October, 2018.

 

	 	By:	 
	 	Name:	James
    Nathanielsz
	 	Title:	Chief
    Executive Officer

 

    	 	 	 

    	 

    

 

EXHIBIT
C

 

FORM
OF TRANSFER AGENT

INSTRUCTION
LETTER

 

[not
material]

 

    	 	 	 

    	 

    

 

EXHIBIT
D

 

REGISTRATION
RIGHTS AGREEMENT

 

[See
Exhibit 10.2 to the Company’s Current Report on Form 8-K, filed with the SEC on October 9, 2018]

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