Document:

LOCK-UP AGREEMENT

 

THIS LOCK-UP AGREEMENT
(this “Agreement”) is made as of the ____ day of ______________, 2014 (the “Effective Date”)
by and among Glori Acquisition Corp., a Delaware corporation (including any successor entity thereto, the “Company”),
Glori Energy Inc., a Delaware Corporation (including any successor entity thereto, “Glori”), Infinity-C.S.V.C.
Management Ltd., in its capacity under the Merger Agreement (as defined below) as the INXB Representative (the “INXB Representative”),
each of the persons listed on Schedule A hereto in its capacity as a holder of the Subject Shares (as defined below), each
of which is referred to in this Agreement as a “Restricted Holder” and collectively as the “Restricted
Holders”, and each of the persons listed on Schedule B hereto in its capacity as a holder of the Unrestricted
Shares (as defined below), each of which is referred to in this Agreement as an “Unrestricted Holder” and collectively
as the “Unrestricted Holders” (together with the Restricted Holders, referred to individually in this Agreement
as a “Holder” and collectively as the “Holders”).

 

RECITALS

 

WHEREAS, the
Company entered into that certain Merger and Share Exchange Agreement, dated as of January 8, 2014, by and among Infinity Cross
Border Acquisition Corporation, a company incorporated in the British Virgin Islands (the “Parent”), the Company,
Glori Merger Subsidiary, Inc., a Delaware corporation and wholly owned subsidiary of the Company (“Merger Sub”),
the INXB Representative, and Glori (as amended from time to time, the “Merger Agreement”);

 

WHEREAS, pursuant
to the Merger Agreement, the Parent will merge with and into the Company (the “Redomestication Merger”), and
immediately thereafter Glori will merge with and into Merger Sub (the “Transaction Merger” and, together with
the Redomestication Merger, the “Transactions”);

 

WHEREAS, upon
the consummation of the Transactions (the “Closing”), Glori will be wholly-owned by the Company, and Glori’s
stockholders and warrantholders immediately prior to the Transactions will become stockholders of the Company; and

 

WHEREAS, pursuant
to the Merger Agreement, and in view of the valuable consideration to be received by the Holders thereunder, including the rights
under the Registration Rights Agreement to be entered into between the Company and the Holders in connection with the Merger Agreement
(the “Registration Rights Agreement”), the Company and the Holders desire to enter into this Agreement, pursuant
to which (1) shares of the Company’s common stock, par value $0.0001 per share (after giving effect to the Redomestication
Merger) (the “Common Stock”), to be received by the Restricted Holders in connection with the consummation of
the Transactions as set forth on Schedule A hereto (including any equity securities into which such shares of Common Stock
are thereafter exchanged or converted or which are paid as distributions or dividends in consideration of such shares, the “Subject
Shares”) shall become subject to limitations on disposition as set forth herein and (2) Unrestricted Holders, who will
receive shares of the Common Stock in exchange for their shares of Glori Series C-2 Preferred Stock, par value $0.0001 per share,
and for their warrants to purchase shares of Glori Series C-2 Preferred Stock, as set forth on Schedule B hereto (including
any equity securities into which such shares of Common Stock are thereafter exchanged or converted or which are paid as distributions
or dividends in consideration of such shares, the “Unrestricted Shares”, and together with the Subject Shares,
the “Shares”) agree to become subject to certain other limitations as set forth herein.

 

    	 

    	 

    

 

NOW, THEREFORE,
the parties hereby agree as follows:

 

AGREEMENT

 

1.                 
Lock-Up Provisions.

 

1.1              Each
Restricted Holder hereby agrees not to, during the period commencing from the Closing and ending on the earlier
of (a) the one (1) year anniversary of the Closing or (b) the date on which the Company consummates an Exit
Event (as defined below) (the “Lock-Up Period”): (i) lend, offer, pledge, hypothecate,
encumber, donate, assign, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to
sell, grant any option, right or warrant to purchase, or otherwise transfer or dispose of, directly or indirectly, any
Subject Shares, (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the
economic consequences of ownership of the Subject Shares, or (iii) publicly disclose the intention to do any of the
foregoing, whether any such transaction described in clauses (i), (ii), or (iii) above is to be settled by delivery of Common
Stock or other securities, in cash or otherwise (any of the foregoing described in clauses (i), (ii), or (iii), a
“Prohibited Transfer”). In addition, each Restricted Holder agrees that such Restricted Holder will not,
during the Lock-Up Period, make any demand for the registration of any Subject Shares, whether pursuant to the Registration
Rights Agreement or otherwise; provided, that the Restricted Holders shall be entitled to request Piggyback
Registrations (as defined in the Registration Rights Agreement) for the Subject Shares. Each Restricted Holder further agrees
to execute such agreements as may be reasonably requested by the Company that are consistent the foregoing or that are
necessary to give further effect thereto. “Exit Event” shall mean a liquidation, merger, share exchange or
other similar transaction following the Closing that results in all of the Company’s shareholders having the right to
exchange their equity holdings in the Company for cash, securities or other property.

 

1.2             
If any Prohibited Transfer is made or attempted contrary to the provisions of this Agreement, such purported Prohibited
Transfer shall be null and void ab initio, and the Company shall refuse to recognize any such purported transferee of the Subject
Shares as one of its equity holders for any purpose. In order to enforce Section 1.1, the Company may impose stop-transfer
instructions with respect to the Subject Shares of each Restricted Holder (and permitted transferees and assigns thereof) until
the end of the Lock-Up Period.

 

1.3             
Notwithstanding Sections 1.1 and 1.2, if:

 

(a)               
(i)  (1) any Restricted Holder is granted a waiver in accordance with Section 3.7 of the restrictions contained
in Section 1.1 or Section 1.2 of this Agreement with respect to all or any portion of their Subject Shares, or (2) if
any Company shareholder subject to the lock-up provisions of that certain Registration Rights Agreement, dated as of July 19, 2012,
entered into by and among the Company (as successor to the Parent) and the former shareholders of the Parent signatory thereto,
is granted a waiver of the lock-up provisions contained therein with respect to all or any portion of their shares subject thereto,
and (ii) such waiver applies to Subject Shares or other Company equity having a fair market value in excess of Two Hundred
Fifty Thousand Dollars ($250,000) in the aggregate (whether in one or multiple waivers) (such waiver, an “Early Release”),
then a pro-rata portion of the Subject Shares held by each Restricted Holder as of the Effective Data shall be released from such
Restricted Holder’s obligations under Sections 1.1 and 1.2, and the Company shall take commercially reasonable
efforts to provide notice to the Restricted Holders upon the occurrence of such Early Release; provided that if more than one Company
shareholder is granted an Early Release simultaneously or as part of a series of related transactions, then the Early Release which
results in the largest pro-rata portion of the Subject Shares being released shall be the only one applied;

 

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(b)              
If any Infinity PIPE Purchaser (as defined below) in accordance with Section 4(l) of that certain Share Purchase Agreement,
dated as of January 7, 2014, by and among the Parent, the Purchaser, and the investors listed on the schedule of buyers attached
thereto (as amended from time to time, the “PIPE Agreement”) provides the Company with notice of its intent
to sell any of its Firm Shares (as defined in the PIPE Agreement) at least five (5) days before the consummation of such sale of
Firm Shares (the date of any such sale, a “PIPE Release Date”), then (i) promptly after its receipt of
such notice, the Company shall give notice of such intended sale to the Restricted Holders, and (ii)  the PIPE Percentage
(as defined below) of the Subject Shares held by each Restricted Holder as of the Effective Date shall be released from such Restricted
Holder’s obligations under Sections 1.1 and 1.2 on the PIPE Release Date; for the purposes of this Section
1.3(b): (1) “Infinity PIPE Purchaser” means any of Infinity I-China Fund (Cayman), L.P., Infinity I-China
Fund (Israel), L.P., Infinity I-China Fund (Israel 2), L.P., Infinity I-China Fund (Israel 3), L.P. or their respective Affiliates
(as defined in the Merger Agreement) that that acquires shares of capital stock of the Company under the PIPE Agreement; and (2) “PIPE
Percentage” means, as of a PIPE Release Date, a fraction expressed as a percentage calculated by taking (x) the
number of Firm Shares sold by Infinity PIPE Purchasers on such PIPE Release Date, and dividing by (y) 1,487,500;

  

(c)               
the Common Stock’s share price reaches or exceeds Nine Dollars and Sixty Cents ($9.60) for any twenty (20) trading
days within any thirty (30) trading day period during the Lock-Up Period, then fifty percent (50%) of the Subject Shares held by
each Restricted Holder as of the Effective Date shall be released from such Restricted Holder’s obligations under Sections
1.1 and 1.2; provided, that the foregoing stock price limitations shall be equitably adjusted as determined in
good faith by the Company’s Board of Directors for any stock splits, stock dividends, stock combinations, or other similar
transactions affecting the Company’s Common Stock; and

 

(d)              
the Common Stock’s share price reaches or exceeds Twelve Dollars ($12.00) for any twenty (20) trading days within
any thirty (30) trading day period during the Lock-Up Period, then all of the Subject Shares then held by each Restricted Holder
shall be released from such Restricted Holder’s obligations under Sections 1.1 and 1.2; provided, that
the foregoing stock price limitations shall be equitably adjusted as determined in good faith by the Company’s Board of Directors
for any stock splits, stock dividends, stock combinations, or other similar transactions affecting the Company’s Common Stock.

 

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2.                 
Release and Covenant Not to Sue. Subject to Sections 3.2 and 3.11, effective upon the Closing,
each Holder hereby releases and discharges Glori and its subsidiaries from and against any and all claims, suits, actions, demands,
obligations, agreements, debts and liabilities whatsoever (whether known or unknown, asserted or unasserted, contingent, inchoate,
or otherwise), both at law and in equity, which such Holder now has, has ever had or may hereafter have against Glori or any of
its subsidiaries arising at or prior to the Closing or on account of or arising out of any matter occurring at or prior to the
Closing; provided, that if such Holder is an employee of Glori or its subsidiaries who will continue to be employed immediately
following the Closing, such release shall exclude any claims related to the right of such employee to receive current earned and
accrued but unpaid compensation, unreimbursed business expenses or other employment benefits generally available to all employees
of Glori and its subsidiaries. From and after the Closing, each Holder hereby irrevocably covenants to refrain from, directly or
indirectly, asserting, commencing or causing to be commenced any claim, suit, action or demand of any kind against Glori or any
of its subsidiaries, based upon any matter purported to be released hereby. Notwithstanding anything herein to the contrary, the
releases and restrictions set forth herein shall not apply to any claims a Holder may have under the terms and conditions of the
Merger Agreement to receive the merger consideration for its shares of Glori capital stock or warrants to acquire shares of Glori
capital stock.

 

3.                 
Miscellaneous.

 

3.1             
Assignment. This Agreement and all obligations of each Holder are personal to such Holder and may not be transferred
or delegated by such Holder at any time. The Company and Glori may freely assign any or all of their rights under this Agreement,
in whole or in part, to any successor entity without obtaining the consent or approval of the Holder. If the INXB Representative
is replaced in accordance with the terms of the Merger Agreement, the replacement INXB Representative shall automatically become
a party to this Agreement as if it were the original INXB Representative hereunder.

 

3.2             
Other Agreements. Nothing in this Agreement shall limit any of the rights or remedies of the Company, Glori and the
INXB Representative or any of the obligations of the Holders under any other agreement between the Holders and the Company, Glori
or the INXB Representative or any certificate or instrument executed by the Holders in favor of the Company, Glori or the INXB
Representative, and nothing in any other agreement, certificate or instrument shall limit any of the rights or remedies of the
Company, Glori or the INXB Representative or any of the obligations of the Holders under this Agreement.

 

3.3             
Governing Law; Jurisdiction; WAIVER OF JURY TRIAL. This Agreement and any dispute or controversy arising out of or
relating to this Agreement shall be governed by and construed in accordance with the laws of the State of New York, without regard
to conflict of law principles that would result in the application of any law other than the law of the State of New York. All
legal proceedings, claims, suits, actions, demands, disputes or controversies (any of the foregoing, a “Proceeding”)
arising out of or relating to this Agreement shall be heard and determined exclusively in any state or federal court located in
New York, New York. Each party hereto hereby (a) submits to the exclusive jurisdiction of any state or federal court located in
New York, New York, for the purpose of any Proceeding arising out of or relating to this Agreement brought by any party hereto
and (b) irrevocably waives, and agrees not to assert by way of motion, defense or otherwise, in any such Proceeding, any claim
that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment
or execution, that the Proceeding is brought in an inconvenient forum, that the venue of the Proceeding is improper, or that this
Agreement or the transactions contemplated hereby may not be enforced in or by any of the above-named courts. Each party agrees
that a final judgment in any such Proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment
or in any other manner provided by applicable law. Each party irrevocably consents to the service of the summons and complaint
and any other process in any other action or proceeding relating to the transactions contemplated by this Agreement, on behalf
of itself or himself, or its or his property, by personal delivery of copies of such process to such party at the applicable address
set forth in Section 3.6. Nothing in this Section 3.3 shall affect the right of any party to serve legal process
in any other manner permitted by applicable law. EACH PARTY HERETO HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
LAW ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN
CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY HERETO (I) CERTIFIES THAT NO AFFILIATE, AGENT
OR REPRESENTATIVE OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF
ANY ACTION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (II) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO
ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 3.3.

 

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3.4             
Counterparts; Facsimile. This Agreement may also
be executed and delivered by facsimile signature or by email in portable document format in two or more counterparts, each of
which shall be deemed an original, but all of which together shall constitute one and the same instrument.

 

3.5             
Interpretation. The titles and subtitles used in this Agreement are for convenience only and are not to be considered
in construing or interpreting this Agreement. In this Agreement, unless the context otherwise requires: (a) any pronoun used in
this Agreement shall include the corresponding masculine, feminine or neuter forms, and the singular form of nouns, pronouns and
verbs shall include the plural and vice versa; (b) “including” (and with correlative meaning “include”)
means including without limiting the generality of any description preceding or succeeding such term and shall be deemed in each
case to be followed by the words “without limitation”; (c) the words “herein,” “hereto,” and
“hereby” and other words of similar import in this Agreement shall be deemed in each case to refer to this Agreement
as a whole and not to any particular section or other subdivision of this Agreement; (d) a “person” means an individual,
corporation, partnership (including a general partnership, limited partnership or limited liability partnership), limited liability
company, association, trust or other entity or organization, including a government, domestic or foreign, or political subdivision
thereof, or an agency or instrumentality thereof; and (e) the term “or” means “and/or”.

 

3.6             
Notices. All notices, requests, and other communications given or made pursuant to this Agreement shall be in writing
and shall be deemed effectively given, delivered and received (a) upon personal delivery to the party to be notified, (b) when
sent by electronic mail or facsimile upon affirmative confirmation of receipt, (c) five (5) days after having been sent by
registered or certified mail, return receipt requested, postage prepaid, or (d) one (1) business day after the business day
of deposit with a nationally recognized overnight courier, specifying next-day delivery, with written verification of receipt,
in each case to the applicable party at the following addresses (or to such other address for a party as shall be specified by
like notice):

 

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        If to the Company or
        Glori, to:

         

        Glori Energy, Inc.

        4315 South Drive

        Houston, TX 77053

        Attn: Chief Executive Officer

        Facsimile: (713) 237-8585

         
	
        With copies to (which
        shall not constitute notice):

         

        Norton Rose Fulbright

        1301 McKinney, Suite 5100

        Houston, TX 77010-3095

        Attn: Charles Powell

        Facsimile: (713) 651-5246

        Email: Charles.powell@nortonrosefulbright.com

         

        and

         

        Infinity-C.S.V.C. Management
        Ltd.

        3 Azrieli Center (Triangle Tower)

        42nd Floor, Tel Aviv, Israel, 67023

        Attn: Mark Chess

        Facsimile: 972-3-6075456

        Email: MarkC@infinity-equity.com

         

        and

         

        Ellenoff Grossman &
        Schole LLP

        1345 Avenue of the Americas, 11th Floor

        New York, New York 10105

        Attention: Stuart Neuhauser

        Facsimile: (212) 370-7889

        Email: sneuhauser@egsllp.com

         

	
        If to the INXB Representative,
        to:

         

        Infinity-C.S.V.C. Management
        Ltd.

        3 Azrieli Center (Triangle Tower)

        42nd Floor, Tel Aviv, Israel, 67023

        Attn: Mark Chess

        Facsimile: 972-3-6075456

        Email: MarkC@infinity-equity.com

         
	
        With a copy to (which
        shall not constitute notice):

         

        Ellenoff Grossman &
        Schole LLP

        1345 Avenue of the Americas, 11th Floor

        New York, New York 10105

        Attention: Stuart Neuhauser

        Facsimile: (212) 370-7889

        Email: sneuhauser@egsllp.com

         

	If to any Holder, to the address of such Holder as set forth under the name of such Holder on the signature pages hereto.

 

3.7             
Amendments and Waivers. Any term of this Agreement may be amended and the observance of any term of this Agreement
may be waived (either generally or in a particular instance, and either retroactively or prospectively) only with the written consent
of the Company, Glori, the INXB Representative, and Holders holding a majority of the Shares. No failure or delay by a party in
exercising any right hereunder shall operate as a waiver thereof. No waivers of or exceptions to any term, condition, or provision
of this Agreement, in any one or more instances, shall be deemed to be or construed as a further or continuing waiver of any such
term, condition, or provision.

 

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3.8             
Severability. In case any one or more of the provisions contained in this Agreement is for any reason held to be
invalid, illegal or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provision
of this Agreement, and such invalid, illegal, or unenforceable provision shall be reformed and construed so that it will be valid,
legal, and enforceable to the maximum extent permitted by law.

 

3.9             
Specific Performance. Each Holder acknowledges that its obligations under this Agreement are unique, recognizes and
affirms that in the event of a breach of this Agreement by any Restricted Holder, money damages may be inadequate and the Company,
Glori and the INXB Representative may have not adequate remedy at law, and agree that irreparable damage would occur in the event
that any of the provisions of this Agreement were not performed by a Holder in accordance with their specific terms or were otherwise
breached. Accordingly, each of the Company, Glori and the INXB Representative shall be entitled to seek an injunction or restraining
order to prevent breaches of this Agreement by any Holder and to seek to enforce specifically the terms and provisions hereof,
without the requirement to post any bond or other security or to prove that money damages would be inadequate, this being in addition
to any other right or remedy to which such party may be entitled under this Agreement, at law or in equity.

 

3.10         
Third Parties. Nothing contained in this Agreement or in any instrument or document executed by any party in connection
with the transactions contemplated hereby shall create any rights in, or be deemed to have been executed for the benefit of, any
person that is not a party hereto or thereto or a successor or permitted assign of such a party.

 

3.11         
Entire Agreement. This Agreement (including any Schedules hereto) constitutes the full and entire understanding and
agreement among the parties with respect to the subject matter hereof, and any other written or oral agreement relating to the
subject matter hereof existing between the parties is expressly canceled; provided, that, for the avoidance of doubt, the
foregoing shall not affect the rights and obligations of the parties under the Merger Agreement or any Ancillary Document (as defined
in the Merger Agreement), including the Registration Rights Agreement.

 

[Remainder of Page Intentionally
Left Blank; Signature Pages Follow]

 

    	 

    	 

    

 

IN WITNESS WHEREOF,
the parties have executed this Lock-Up Agreement as of the date first written above.

 

	 	The Company:
	 	 	 	 
	 	Glori Acquisition Corp.
	 	 	 	 
	 	By:   	 
	 	 	Name: 	Mark Chess
	 	 	Title: 	President
	 	 	 	 
	 	Glori:
	 	 	 	 
	 	GLORI ENERGY INC.
	 	 	 	 
	 	By: 	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	 	The INXB Representative:
	 	 	 	 
	 	Infinity-C.S.V.C. Management Ltd., in its capacity under the Merger Agreement as the INXB Representative
	 	 	 	 
	 	By: 	 
	 	 	Name:   	Mark Chess
	 	 	Title:	 

 

[Signature Page
to Lock-Up Agreement]

 

    	 

    	 

    

  

	 	Restricted Holders:
	 	 	 
	 	RESTRICTED HOLDERS WHO ARE NATURAL PERSONS (i.e., individuals):
	 	 	 
	 	By:	 
	 	Print Name:  	 
	 	 	 
	 	RESTRICTED HOLDERS WHO ARE NOT NATURAL PERSONS (i.e., corporations, limited liability companies, partnerships, trusts or other entities):
	 	 	 
	 	Print Name	 
	 	of Entity:  	 
	 	 	 
	 	By:	 
	 	Print Name:  	 
	 	Print Title:	 
	 	 	 
	 	Address for Notice:
	 	 	 
	 	 
	 	 	 
	 	 
	 	 	 
	 	 
	 	 	 
	 	 
	 	 	 
	 	Facsimile: 	 
	 	 	 
	 	Email: 	 

 

[Signature Page
to Lock-Up Agreement]

 

    	 

    	 

    

 

	 	Unrestricted Holders:
	 	 	 
	 	UNRESTRICTED HOLDERS WHO ARE NATURAL PERSONS (i.e., individuals):
	 	 	 
	 	By:	 
	 	Print Name:  	 
	 	 	 
	 	UNRESTRICTED HOLDERS WHO ARE NOT NATURAL PERSONS (i.e., corporations, limited liability companies, partnerships, trusts or other entities):
	 	 	 
	 	Print Name	 
	 	of Entity:	 
	 	 	 
	 	By:	 
	 	Print Name:	 
	 	Print Title:	 
	 	 	 
	 	Address for Notice:
	 	 	 
	 	 
	 	 	 
	 	 
	 	 	 
	 	 
	 	 	 
	 	Facsimile: 	 
	 	 	 
	 	Email: 	 

  

[Signature Page
to Lock-Up Agreement]

 

    	 

    	 

    

 

SCHEDULE A

 

RESTRICTED HOLDERS

 

	Name of Restricted Holder	Number of Subject Shares
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 

 

    	 

    	 

    

 

SCHEDULE B

 

UNRESTRICTED HOLDERS

 

	Name of Unrestricted Holder	Number of Unrestricted SharesEXHIBIT 4.26

PLACEMENT AGENT AGREEMENT

 

October 7, 2013

 

AMERICAN BIO MEDICA CORPORATION

122 Smith Road

Kinderhook, New York 12106

 

		RE:	Placement Agent Agreement for Extension of Existing 15%
Subordinated Convertible Debentures Due August 1, 2013

 

Dear Ms. Waterhouse:

 

This letter confirms our agreement (the
“Agreement”) that American Bio Medica Corporation, a New York corporation (“ABMC “ or the “Company”)
has engaged Cantone Research, Inc. (“CRI” or the “Placement Agent”) to act as the Company’s exclusive
Placement Agent in connection with the proposed solicitation (the “Offering”) of current holders of ABMC 15% Subordinated
convertible Debentures Due August 1, 2013 (the “Existing Debt”) to exchange the Existing Debt for two series of new
convertible notes (the “New Notes”) described below. The New Notes consist of two series of new convertible notes,
as follows: up to $400,000 of 15% notes due August 1, 2014 (the “Series 2013A Notes”), with a warrant attached to purchase
one share of ABMC common stock for each $1.00 in principal amount of Existing Debt exchanged for the Series 2013A Notes (the “Warrants”);
and up to $400,000 of 15% notes due February 1, 2014 (the “Series 2013B Notes”). Each series of New Notes will pay
15% simple interest quarterly in arrears, with the first payment of interest due November 1, 2013. ABMC will make the payment of
interest on the Existing Debt on August 1, 2013 as provided in the Existing Debt. The New Notes, the ABMC common stock into which
the New Notes are convertible and the ABMC common stock subject to issuance upon the exercise of the Warrants are referred to collectively
in this Placement Agent Agreement as the “Securities.” ABMC will deliver to CRI a private placement memorandum dated
September 10, 2013 (the “Memorandum”) for the Offering. The terms of the Offering are summarized in Exhibit A to this
Agreement. The Offering will be made solely to holders of Existing Debt who are “accredited investors” (the “Accredited
Investors”), as such term is defined in Rule 501(a) of Regulation D (“Regulation D”) promulgated under the United
States Securities Act of 1933, as amended (the “Securities Act”), pursuant to an exemption from registration under
applicable federal and state securities laws available under Rule 506 of Regulation D and in accordance with the terms of this
Agreement. CRI will make the Offering will be on a best efforts basis up to an aggregate of $645,000 in Existing Debt converted
to New Notes. Any term capitalized in this Agreement, but not defined herein, shall have the same meaning as defined in the Memorandum.

 

Upon acceptance, (indicated by your signature
below), this Agreement will confirm the terms of the engagement between the Placement Agent and the Company.

 

1.           Appointment.

 

(a)          On
the basis of the representations, warranties and covenants contained in this Agreement, and subject to the terms and conditions
of this Agreement, the Company hereby retains the Placement Agent, and the Placement Agent hereby agrees to act, as the Company’s
exclusive Placement Agent in connection with the Offering. As Placement Agent for the Offering, CRI will advise and assist the
Company in identifying and assisting the Company in issuing the Securities to the holders of the Existing Debt (the “Holders”
of the “Offerees”) in the Offering under the terms and conditions described in the Memorandum. The Company acknowledges
and agrees that the Placement Agent is only required to use its “commercially reasonable best efforts” in connection
with the Offering and that this Agreement does not constitute a commitment by the Placement Agent to purchase the Securities or
introduce the Company to Offerees. The Company retains the right to determine all of the terms and conditions of the Offering.

 

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(b)          During
the Term of this Agreement (as such term is defined below), neither the Company nor any of its subsidiaries will, directly or indirectly,
solicit or otherwise encourage the submission of any proposal or offer (“Investment Proposal”) from any person or entity
relating to any issuance of the Company’s or any of its subsidiaries’ securities (including debt securities) or participate
in any discussions regarding an Investment Proposal. The Company will immediately cease all contacts, discussions and negotiations
with third parties regarding any Investment Proposal.

 

2.           Information.

 

(a)          The
Company recognizes that, in completing its engagement hereunder, the Placement Agent will be using and relying on the Memorandum,
publicly available information and on data, material and other information furnished to Placement Agent by the Company or the Company’s
affiliates and agents. The Company will cooperate with CRI and furnish, and cause to be furnished, to CRI, any and all information
and data concerning the Company, its subsidiaries and the Offering that CRI deems appropriate, including, without limitation, the
Company’s acquisition and/or merger plans and plans for raising capital or additional financing that is reasonably requested
by CRI (the “Information”), including subscription agreements, and the forms of the Debentures (together with the Memorandum,
the “Private Placement Materials”). Any Information and Private Placement Materials forwarded to Offerees will be in
form reasonably acceptable to Placement Agent and its counsel. The Company represents and warrants that all Information and Private
Placement Materials, including, but not limited to, the Company’s financial statements and all information incorporated by
reference therein, will be complete and correct in all material respects and will not contain any untrue statement of a material
fact or omit to state a material fact necessary in order to make the statements therein not misleading.

 

(b)          It
is further agreed that CRI will conduct a due diligence investigation of the Company and the Company will reasonably cooperate
with such investigation as a condition of CRI’s obligations hereunder. The Company recognizes and confirms that the Placement
Agent: (i) will use and rely primarily on the Information, the Private Placement Materials and information available from generally
recognized public sources in performing the services contemplated by this letter without having independently verified the same;
(ii) is authorized as the Placement Agent to transmit to any Offerees a copy or copies of the Private Placement Materials and any
other legal documentation supplied to the Placement Agent for transmission to any prospective investors by or on behalf of the
Company or by any of the Company’s officers, representatives or agents, in connection with the performance of the Placement
Agent’s services hereunder or any transaction contemplated hereby; (iii) does not assume responsibility for the accuracy
or completeness of the Information or the Private Placement Materials and such other information, if any provided to the Offerees;
(iv) will not make an appraisal of any assets of the Company or the Company generally; and (v) retains the right to continue to
perform due diligence of the Company, its business and its officers and directors during the course of the engagement.

 

    	3

    	 

    

  

(c)          Until
the date that is one year from the date hereof, CRI will keep all information obtained from the Company confidential except: (i)
Information which is otherwise publicly available, or previously known to or obtained by, CRI independently of the Company and
without breach of any of CRI’s agreements with the Company; (ii) CRI may disclose such information to its officers, directors,
employees, agents, representatives, attorneys, and to its other advisors and financial sources on a need to know basis only and
will ensure that all such persons will keep such information strictly confidential. No such obligation of confidentiality shall
apply to information that: (i) is in the public domain as of the date hereof or hereafter enters the public domain without a breach
by CRI, (ii) was known or became known by CRI prior to the Company’s disclosure thereof to CRI, (iii) becomes known to CRI
from a source other than the Company, and other than by the breach of an obligation of confidentiality owed to the Company, (iv)
is disclosed by the Company to a third party without restrictions on its disclosure, (v) is independently developed by CRI or (vi)
is required to be disclosed by CRI or its officers, directors, employees, agents, attorneys and to its other advisors and financial
sources, pursuant to any order of a court of competent jurisdiction or other governmental body or as may otherwise be required
by law.

 

(d)          The
Company recognizes that in order for CRI to perform properly its obligations in a professional manner, the Company will keep CRI
informed of and, to the extent practicable and as allowed by law, permit CRI to participate in meetings and discussions between
the Company and any third party relating to the matters covered by the terms of CRI’s engagement. If at any time during the
course of CRI’s engagement, the Company becomes aware of any material change in any of the information previously furnished
to CRI, it will promptly advise CRI of the change.

 

(e)          The
Offering shall be conditioned upon, among other things, the satisfactory completion by CRI of its due diligence investigation and
analysis of: (A) the Company’s arrangements with its officers, directors, employees, affiliates, customers and suppliers,
and (B) the audited and unaudited historical financial statements of the Company.

 

3.           Compensation.
As compensation for services rendered and to be rendered hereunder by Placement Agent, the Company agrees to pay Placement Agent
the following fees in consideration of the services rendered by the Placement Agent in connection with the Offering:

 

(a)          The
Company agrees to pay CRI a cash fee payable upon each closing of the transaction contemplated by this Agreement (“Closing”)
equal to five percent (5%) of the gross amount of Existing Debt converted into the New Notes plus the Bridge Loan of $150,000,
the fees received by CRI are referred herein as the “Placement Fee”.

 

(b)          The
Company agrees to issue to CRI (or its designated affiliates or assignees), warrants to purchase 75,000 shares of common stock
of the Company exercisable for three years at an exercise price equal to the average closing sale price of the Company common stock
for the five business days ending September 16, 2013.

 

(c)          The
Company agrees to pay CRI a non-accountable expense allowance in cash (the “Non-Accountable Fee”) equal to 2% of the
gross amount of New Debt, or 115,000 restricted shares of ABMC common stock. AMBC will also pay CRI’s legal fees of $4,000.00
for a review of the Private Placement Materials.

 

    	4

    	 

    

 

(d)          In
the event this Agreement is not completed within the term set forth in Section 4, CRI will be entitled to reimbursement of its
out-of-pocket accountable expenses actually incurred in connection with this Offering.

 

(e)          CRI
shall assist and cooperate with legal counsel to the Company in effecting a filing of a Registration Statement with the Securities
and Exchange Commission with respect to the public offering of the shares of Company common stock into which the New Notes, Warrants
or shares issued to CRI as compensation filed in connection with the Offering (the “SEC Filing”). The Company will
be responsible for the reasonable costs and expenses of CRI in connection with the SEC Filing, including legal fees.

 

(f)          The
Company will assist and cooperate with legal counsel to CRI in the filing with the Financial Industry Regulatory Authority (“FINRA”)
Corporate Financing Department pursuant to FINRA Rule 2710(b)(10)(A)(i) (the “Issuer Filing”) and the Company shall
pay the filing fee required by such Issuer Filing and the agreed fees of counsel to CRI in connection with the Issuer Filing and
clearing such filing with FINRA. The Company shall assist legal counsel to CRI in pursuing the Issuer Filing until FINRA issues
a letter confirming that it does not object to the terms of the Offering contemplated by such Registration Statement.

 

4.           Term
of Engagement.

 

(a)          This
Agreement will remain in effect until September 30, 2013 after which either party shall have the right to terminate it on fifteen
(15) days prior written notice to the other. The date of termination of this Agreement is referred to in this Agreement from time
to time as the “Termination Date.” The period of time during which this Agreement remains in effect is referred to
herein from time to time as the “Term.” In the event, however in the course of CRI’s performance of due diligence
it deems it necessary to terminate the engagement, CRI may do so prior to the Termination Date and upon immediate written notice.

 

(b)          Notwithstanding
anything herein to the contrary, the obligation to pay the compensation and expenses described in Section 3, this Section 4, Sections
7 and 9-18 and all of Exhibit A, will survive any termination or expiration of this Agreement. The termination of this Agreement
shall not affect the Company’s obligation to pay fees to the extent provided for in Section 3 above and shall not affect
the Company’s obligation to reimburse the expenses accruing prior to such termination to the extent provided for in this
Agreement. All such fees and reimbursements due shall be paid to the Placement Agent on or before the Termination Date (in the
event such fees and reimbursements are earned or owed as of the Termination Date) or upon the closing of the Offering or any applicable
portion thereof (in the event such fees are due pursuant to the terms of Section 3 hereof).

 

(c)          Notwithstanding
anything herein to the contrary, the Company agrees to accept any current Holder who is an Accredited Investor and who signs and
tenders the necessary transaction documents to CRI and to pay CRI all compensation required under Section 3, above upon CRI tendering
such transaction documents to the Company.

 

    	5

    	 

    

 

5.           Certain
Placement Procedures. The Company and the Placement Agent each represents to the other that it has not taken, and the Company and
the Placement Agent each agrees with the other that it will not take any action, directly or indirectly, so as to cause the Offering
to fail to be entitled to rely upon the exemption from registration afforded by Section 4(2) of the Securities Act and Regulation
D. In effecting the Offering, the Company and the Placement Agent each agrees to comply in all material respects with applicable
provisions of the Securities Act and any regulations thereunder and any applicable state laws and requirements. In order to induce
CRI to enter into this Agreement, the Company agrees that CRI may rely upon any representations and warranties made to any Offeree
in this Offering (as if fully set forth herein) for its benefit, and that all such representations and warranties shall be true
and correct in all material respects, and shall be true and correct in all material respects as of the date of each Closing. The
Company agrees that it shall cause any opinion of its counsel delivered to any Offerees in the Offering also to be addressed and
delivered to the Placement Agent, or to cause such counsel to deliver to the Placement Agent a letter authorizing it to rely upon
such opinion.

 

6.           Representations,
Warranties and Covenants of CRI.

 

CRI, its affiliates and any person acting
on its or their behalf (the “Placement Agent Parties”) hereby represent and warrant to, and covenant with, the Company
that:

 

(a)          The
Securities offered and sold by the Placement Agent have been and will be offered and sold in compliance with all federal and state
securities laws and regulations governing the registration and conduct of broker-dealers, and each Placement Agent Party making
an offer or sale of Securities was or will be, at the time of any such offer or sale, registered as a broker-dealer pursuant to
Section 15(b) of the United States Securities Exchange Act of 1934, as amended (the “Exchange Act”), and under the
laws of each applicable state of the United States (unless exempted from the respective state’s broker-dealer registration
requirements), and in good standing with FINRA;

 

(b)          The
Securities offered and sold by the Placement Agent have been and will be offered and sold only to Accredited Investors in accordance
with Rule 506 of Regulation D and applicable state securities laws; provided, however, the Company shall make all necessary filings
under Rule 503 of Regulation D and such similar notice filings under applicable state securities laws. The Placement Agent Parties
represent and warrant that they have reasonable grounds to believe and do believe that each person to whom a sale, offer or solicitation
of an offer to purchase Securities was or will be made was and is an Accredited Investor. Prior to the sale and delivery of a Company
security to any such investor, the Placement Agent Parties will obtain an executed subscription agreement and an executed investors’
rights agreement in the form agreed upon by the Company and the Placement Agent (the “Subscription Documents”).

 

(c)          (i)
Sales of the Securities by the Placement Agent will be made only in such jurisdictions in which: (A) the Placement Agent is a registered
broker-dealer; and (B) the Placement Agent has been advised by counsel that the offering and sale of the Securities is registered
under, or is exempt from registration under, applicable laws. (ii) offers and sales of the Securities by the Placement Agent will
be made in compliance with the provisions of Regulation D and/or Section 4(2) of the Securities Act, and the Placement Agent shall
furnish to each Offeree a copy of the Memorandum (including all Schedules and Exhibits thereto) prior to accepting any subscriptions
for Securities.

 

(d)          In
connection with the offers and sales of the Securities, the Placement Agent Parties have not and will not:

 

i.            Offer
or sell, or solicit any offer to buy, any Securities by any form of “general solicitation” or “general advertising”,
as such terms are used in Regulation D, or in any manner involving a public offering within the meaning of Section 4(2) of the
Securities Act;

 

    	6

    	 

    

 

ii.         Use
any written material other than the Memorandum, a copy of which is attached hereto as Exhibit C, and the Subscription Documents,
and shall only rely upon and communicate information that is publicly available regarding the Company to any potential investors
(without limiting the foregoing, none of the Placement Agent Parties is authorized to make any representation or warranty to any
Offeree concerning the Company or an investment in the Securities); or

 

iii.         Take
any action that would constitute a violation of Regulation M under the Exchange Act.

 

(e)          The
Placement Agent will periodically notify the Company of the jurisdictions in which it intends the Securities to be offered by it
or will be offered by it pursuant to this Agreement, and will periodically notify the Company of the status of the Offering conducted
pursuant to this Agreement.

 

(f)          The
Placement Agent shall cause each affiliate or each party acting on its or their behalf with whom they enter into contractual arrangements
relating to the offer and sale of any Securities to agree, for the benefit of the Company, to the same provisions contained in
this Agreement.

 

7.           Indemnification.
The Company agrees to indemnify the Placement Agent in accordance with the indemnification and other provisions attached to the
Agreement as Exhibit B (the “Indemnification Provisions”), which provisions are incorporated herein by reference and
shall survive the termination or expiration of the Agreement.

 

8.           Other
Activities. The Company acknowledges that CRI has been, and may in the future be, engaged to provide services as an underwriter,
placement agent, finder, advisor and investment banker to other companies in the industry in which the Company is involved. Subject
to the confidentiality provisions of CRI contained in Section 2 hereof, the Company acknowledges and agrees that nothing contained
in this Agreement shall limit or restrict the right of CRI or of any member, manager, officer, employee, agent or representative
of CRI, to be a member, manager, partner, officer, director, employee, agent or representative of, investor in, or to engage in,
any other business, whether or not of a similar nature to the Company’s business, nor to limit or restrict the right of CRI
to render services of any kind to any other corporation, firm, individual or association; provided that CRI and any of its member,
manager, officer, employee, agent or representative shall not use the Information to the detriment of the Company. CRI may, but
shall not be required to, present opportunities to the Company.

 

9.           Governing
Law; Jurisdiction; Waiver of Jury Trial. This Agreement will be governed as to validity, interpretation, construction, effect and
in all other respects by the internal law of the State of New York. The Company and CRI each (i) agree that any legal suit, action
or proceeding arising out of or relating to this Agreement shall be instituted exclusively in the New York State Supreme Court,
County of Albany, or in the United States District Court for the Northern District of New York sitting in the city of Albany, New
York, (ii) waives any objection to the venue of any such suit, action or proceeding, and the right to assert that such forum is
an inconvenient forum, and (iii) irrevocably consents to the jurisdiction of the New York State Supreme Court, County of Albany,
and the United States District Court for the Northern District of New York in any such suit, action or proceeding. Each of the
Company and CRI further agrees to accept and acknowledge service of any and all process that may be served in any such suit, action
or proceeding in the New York State Supreme Court, County of Albany, or in the United States District Court for the Northern District
of New York and agree that service of process upon it mailed by certified mail to its address shall be deemed in every respect
effective service of process in any such suit, action or proceeding. The parties hereby expressly waive all rights to trial by
jury in any suit, action or proceeding arising under this Agreement.

 

    	7

    	 

    

 

10.         Securities
Law Compliance. The Company, at its own expense, will obtain any registration or qualification required to sell any Securities
under the Blue Sky laws of any applicable jurisdictions within the applicable required time periods.

 

11.         Representations
and Warranties.

 

The Company and each of its subsidiaries
respectively represent and warrant that:

 

(a)          it
has full right, power and authority to enter into this Agreement and to perform all of its obligations hereunder;

 

(b)          this
Agreement has been duly authorized and executed and constitutes a legal, valid and binding agreement of such party enforceable
in accordance with its terms; and

 

(c)          the
execution and delivery of this Agreement and the consummation of the transactions contemplated hereby do not conflict with or result
in a breach of (i) such party’s certificate of incorporation or by-laws or (ii) any agreement to which such party is a party
or by which any of its property or assets is bound.

 

12.         Parties;
Assignment; Independent Contractor. This Agreement has been and is made solely for the benefit of CRI and the Company and each
of the persons, agents, employees, officers, directors and controlling persons referred to in Exhibit A and their respective heirs,
executors, personal representatives, successors and assigns, and nothing contained in this Agreement will confer any rights upon,
nor will this Agreement be construed to create any rights in, any person who is not party to such Agreement, other than as set
forth in this paragraph. The rights and obligations of either party under this Agreement may not be assigned without the prior
written consent of the other party hereto and any other purported assignment will be null and void. CRI has been retained under
this Agreement as an independent contractor, and it is understood and agreed that this Agreement does not create a fiduciary relationship
between CRI and the Company or their respective Boards of Directors. CRI shall not be considered to be the agent of the Company
for any purpose whatsoever and CRI is not granted any right or authority to assume or create any obligation or liability, express
or implied, on the Company’s behalf, or to bind the Company in any manner whatsoever.

 

13.         Validity.
This Agreement contains the entire agreement between the parties hereto. No party has made any statement, agreement or representation,
either oral or written, in connection herewith, modifying, adding or changing the terms and conditions herein set forth. No present
or past dealings between the parties shall be permitted to contradict or modify the terms hereof. No modification of this Agreement
shall be binding unless such modification is in writing and signed by the parties hereto. In case any term of this Agreement will
be held invalid, illegal or unenforceable, in whole or in part, the validity of any of the other terms of this Agreement will not
in any way be affected thereby.

 

14.         Counterparts.
This Agreement may be executed in counterparts and each of such counterparts will for all purposes be deemed to be an original,
and such counterparts will together constitute one and the same instrument.

 

    	8

    	 

    

 

15.         Notices.
All notices will be in writing and will be effective when delivered in person or sent via facsimile and confirmed by letter, to
the party to whom it is addressed at the following addresses or such other address as such party may advise the other in writing
(copies shall not constitute notice):

 

If to the Company:

 

AMERICAN BIO MEDICA CORPORATION

122 Smith Road

Kinderhook, New York 12106

ATTN: Corporate Secretary/Chief Compliance
Officer

Telephone: 518-758-8158

Facsimile: 518-758-8171 

Email: mdwaterhouse@abmc.com

 

with a copy (which shall not constitute notice) to:

William J. Better, P.C.

1 Albany Avenue

Kinderhook, New York 12106

ATTN: William J. Better, Esq.

Telephone: 518-758-1511

Facsimile: 518-758-1227 

Email: betterlaw@berk.com

 

If to the Placement Agent:

Cantone Research Inc.

766 Shrewsbury Ave

Tinton Falls, NJ 07724

Telephone: 732-450-3500

Facsimile: 732-450-3520

Attention: Anthony Cantone

 

With a copy (which will not constitute notice) to:

Christopher P. Flannery, Esq.

4 Hillman Drive

Suite 104

Chadds Ford, PA 19317

Telephone: 610-361-8016 

Facsimile: 610-558-4882

 

16.         Best
Efforts Engagement. It is expressly understood and acknowledged that CRI’s engagement for the Offering does not constitute
any commitment, express or implied, on the part of CRI or of any of its affiliates to purchase or place the Company’s securities
or to provide any type of financing and that the Offering will be conducted by CRI on a “best efforts” (no minimum)
basis.

 

17.         Announcements.
The Company agrees that CRI shall, upon a successful transaction, have the right to place advertisements in financial and other
newspapers and journals at its own expense describing its services to the Company hereunder, provided that CRI shall submit a copy
of any such advertisement to the Company for its approval, such approval not to be unreasonably withheld, conditioned or delayed.
The Company further agrees that it shall not issue any press release in connection with the Offering without CRI’s prior
written approval of such press release. The Company further agrees that CRI’s counsel shall have the right to review and
comment on any Current Report on Form 8-K regarding the Offering prepared by or on behalf of the Company before the same is filed
with the SEC.

 

    	9

    	 

    

 

	Very truly yours, 	 
	 	 
	CANTONE RESEARCH, INC.	 
	 	 	 
	By: 	/S/ Anthony Cantone	 
	 	Anthony Cantone, President	 
	 	 	 
	Agreed to and accepted this 7th day of October, 2013	 
	 	 
	AMERICAN BIO MEDICA CORPORATION	 
	 	 	 
	By: 	/S/ Melissa A. Waterhouse	 
	 	Melissa A. Waterhouse, EVP, CCO, SEC	 

 

    	10

    	 

    

 

Exhibit A

 

TERMS OF THE OFFERING 

 

Term Sheet for Extension of $795,000 debt of American Bio
Medica Corp due 8/1/2013

 

The purpose of this letter
is to set forth the indicative terms pursuant to which, subject to certain conditions set forth herein, Cantone Research Inc. (“CRI”)
would serve as a placement agent for a private placement of certain securities to be issued by American Bio Medica Corporation
(ABMC) in exchange for existing Notes due 8/1/2013. The terms and conditions of this letter are subject to change and this letter
does not constitute an offer to provide any funding. The issuance and sale of such securities is subject to completion of due diligence
to CRI’s satisfaction, the preparation of definitive documentation to effect the transaction that is mutually satisfactory
to each party and, in the case of the investor, that the investor shall have determined that subsequent to the date hereof and
prior to the closing of the transaction, there shall have been no material adverse developments relating to the business, assets,
operations, properties, condition (financial or otherwise) or prospects of the company and its subsidiaries, taken as a whole.

 

	Issuer:	American Bio Medica Corporation (ABMC)
	 	 
	Issue:	In exchange for the existing 15% convertible debentures due 8/1/2013, ABMC will issue two series of notes: new one year notes paying 15% interest to mature 8/1/2014 with one warrant for each $ of Note; and up to $345,000 15% six month Notes due 2/1/2014 with no warrants. These warrants will be priced at the 5 day closing bid average price for the 5 days before the closing.
	 	 
	Investors:	Accredited Investors identified by CRI and current holders of debt maturing on 8/1/2013
	 	 
	Note price:	Par- $1,000 per note
	 	 
	Interest rate:	15% simple interest to be paid quarterly beginning Nov 1, 2013.
	 	 
	Registration:	Company is expected to register the issuance of the shares underlying all the various warrants and conversion of principal within 6 months. Penalty for not registering underlying shares is the interest rate will increase to 18% on the notes retroactive to day issued. The shares underlying warrants issued to CAM and to CRI will also have the same registration rights. 
	 	 
	Conditions:	Completion of due diligence, customary underwriting terms and other terms advised by Counsel. The August 1, 2013 interest payment on the original notes will continue to be due and payable and payment of that interest is a condition to this offering.  
	 	 
	Right of Participation:	For as long as any of the notes remain outstanding, the investors (thru CRI) shall have a right of participation in any new fund raising (debt or equity of any kind) undertaken by ABMC. 
	 	 
	Additional Covenants:	The definitive agreements will contain provisions prohibiting ABMC from issuing variable priced equity or variable price equity linked Securities.

 

    	11

    	 

    

 

	Placement agent fee:	5% in cash of amount extended of current debt holders and the Cantone Asset Management (CAM) Bridge Loan in the amount of $150,000. Placement agent will also earn 75,000 warrants that expire in three years, with an exercise price to be determined by the 5 day closing bid average price for the 5 days before the closing.
	 	 
	Expense allowance:	Non-accountable 2% in cash or 115,000 shares of ABMC stock.
	 	 
	CRI Attorney fee:	$4,000 to review documents prepared by ABMC
	 	 
	CAM Note:	CAM (Cantone Asset Management LLC) will provide approximately $50,000 of additional funds to buyout the Notes of those that do not want to extend and/or pay closing costs, in addition to rolling over the existing $150,000 bridge loan. These additional funds will be added to the “new” CAM bridge loan. As an inducement to roll-over the existing bridge loan of $150,000 and make the additional $50,000, ABMC will issue CAM a warrant for 250,000 shares exercisable at the 5 day closing bid average price for the 5 days before the closing and 153,846 shares of restricted stock. 
	 	 
	CAM Interest:	Interest on the current CAM bridge loan (due 8/1/13) will be paid in 225,000 shares of restricted stock (in lieu of cash).The New Bridge Loan will earn 15% simple annual interest, to be paid in advance on the closing date as 300,000 shares of restricted ABMC common stock in lieu of payment in cash. 

 

    	12

    	 

    

 

EXHIBIT B

 

INDEMNIFICATION PROVISIONS

 

Capitalized terms used in this Exhibit shall have the meanings
ascribed to such terms in the Agreement to which this Exhibit is attached.

 

The Company agrees to indemnify and hold
harmless Placement Agent and each of the other Indemnified Parties (as hereinafter defined) from and against any and all losses,
claims, damages, obligations, penalties, judgments, awards, liabilities, costs, expenses and disbursements, and any and all actions,
suits, proceedings and investigations in respect thereof and any and all legal and other costs, expenses and disbursements in giving
testimony or furnishing documents in response to a subpoena or otherwise (including, without limitation, the costs, expenses and
disbursements, as and when incurred, of investigating, preparing, pursing or defending any such action, suit, proceeding or investigation
(whether or not in connection with litigation in which any Indemnified Party is a party)) (collectively, “Losses”),
directly or indirectly, caused by, relating to, based upon, arising out of, or in connection with, Placement Agent’s acting
for the Company, including, without limitation, any act or omission by Placement Agent in connection with its acceptance of or
the performance or non-performance of its obligations under the Agreement between the Company and Placement Agent to which these
indemnification provisions are attached and form a part, any breach by the Company of any representation, warranty, covenant or
agreement contained in the Agreement or the subscription agreement with the investors (or in any instrument, document or agreement
relating thereto, including any agency agreement), or the enforcement by Placement Agent of its rights under the Agreement or these
indemnification provisions, except to the extent that any such Losses are found in a final judgment by a court of competent jurisdiction
(not subject to further appeal) to have resulted primarily and directly from the gross negligence or willful misconduct of the
Indemnified Party seeking indemnification hereunder.

 

The Company also agrees that no Indemnified
Party shall have any liability (whether direct or indirect, in contract or tort or otherwise) to the Company for or in connection
with the engagement of Placement Agent by the Company or for any other reason, except to the extent that any such liability is
found in a final judgment by a court of competent jurisdiction (not subject to further appeal) to have resulted primarily and directly
from such Indemnified Party’s gross negligence or willful misconduct.

 

These Indemnification Provisions shall extend
to the following persons (collectively, the “Indemnified Parties”): Placement Agent, its present and former affiliated
entities, managers, members, officers, employees, legal counsel, agents and controlling persons (within the meaning of the federal
securities laws), and the officers, directors, partners, stockholders, members, managers, employees, legal counsel, agents and
controlling persons of any of them. These indemnification provisions shall be in addition to any liability, which the Company may
otherwise have to any Indemnified Party.

 

    	13

    	 

    

 

If any action, suit, proceeding or investigation
is commenced, as to which an Indemnified Party proposes to demand indemnification, it shall notify the Company with reasonable
promptness; provided, however, that any failure by an Indemnified Party to notify the Company shall not relieve the Company from
its obligations hereunder, except to the extent that such Indemnified Party’s failure has materially prejudiced the Indemnifying
Party’s rights or materially increased its liabilities and obligations hereunder. An Indemnified Party shall have the right
to retain counsel of its own choice to represent it at its own expense. Any such counsel shall, to the extent consistent with its
professional responsibilities, cooperate with the Company and any counsel designated by the Company. The Company shall be liable
for any settlement of any claim against any Indemnified Party made with the Company’s written consent. The Company shall
not, without the prior written consent of Placement Agent, settle or compromise any claim, or permit a default or consent to the
entry of any judgment in respect thereof, unless such settlement, compromise or consent (i) includes, as an unconditional term
thereof, the giving by the claimant to all of the Indemnified Parties of an unconditional release from all liability in respect
of such claim, and (ii) does not contain any factual or legal admission by or with respect to an Indemnified Party or an adverse
statement with respect to the character, professionalism, expertise or reputation of any Indemnified Party or any action or inaction
of any Indemnified Party.

 

In order to provide for just and equitable
contribution, if a claim for indemnification pursuant to these indemnification provisions is made but it is found in a final judgment
by a court of competent jurisdiction (not subject to further appeal) that such indemnification may not be enforced in such case,
even though the express provisions hereof provide for indemnification in such case, then the Company shall contribute to the Losses
to which any Indemnified Party may be subject (i) in accordance with the relative benefits received by the Company and its stockholders,
subsidiaries and affiliates, on the one hand, and the Indemnified Party, on the other hand, and (ii) if (and only if) the allocation
provided in clause (i) of this sentence is not permitted by applicable law, in such proportion as to reflect not only the relative
benefits, but also the relative fault of the Company, on the one hand, and the Indemnified Party, on the other hand, in connection
with the statements, acts or omissions which resulted in such Losses as well as any relevant equitable considerations. No person
found liable for a fraudulent misrepresentation shall be entitled to contribution from any person who is not also found liable
for fraudulent misrepresentation. The relative benefits received (or anticipated to be received) by the Company and its stockholders,
subsidiaries and affiliates shall be deemed to be equal to the aggregate consideration payable or receivable by such parties in
connection with the transaction or transactions to which the Agreement relates relative to the amount of fees actually received
by Placement Agent in connection with such transaction or transactions. Notwithstanding the foregoing, in no event shall the amount
contributed by all Indemnified Parties exceed the amount of fees previously received by Placement Agent pursuant to the Agreement.

 

Neither termination nor completion of the
Agreement shall affect these Indemnification Provisions which shall remain operative and in full force and effect. The Indemnification
Provisions shall be binding upon the Company and its successors and assigns and shall inure to the benefit of the Indemnified Parties
and their respective successors, assigns, heirs and personal representatives.

 

    	14

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