Document:

exv4w3

Exhibit 4.3

 

 

GUARANTEE

from

AMERICAN AIRLINES, INC.

as Guarantor

to

WILMINGTON TRUST COMPANY

as Trustee

Dated as of September 28, 2009

 

 

 

 

GUARANTEE

          This Guarantee (as amended, modified or supplemented from time to time, this
“Guarantee”), made and entered into as of September 28, 2009, from AMERICAN AIRLINES, INC.,
a corporation duly organized and existing under the laws of the State of Delaware, as guarantor
(the “Guarantor,” as further defined in the Applicable Indenture referred to herein), to
WILMINGTON TRUST COMPANY, a Delaware banking corporation, as Trustee (the “Trustee,” as
further defined in the Applicable Indenture referred to herein). Defined terms used herein without
definition shall have the meanings given to them in the Indenture, dated as of February 1, 2004
(the “Indenture”), between AMR CORPORATION, a Delaware corporation (the “Company,”
as further defined in the Applicable Indenture referred to herein), and the Trustee, as
supplemented by the Supplemental Indenture, dated as of September 28, 2009 (the “Supplemental
Indenture,” and the Indenture, as supplemented by the Supplemental Indenture, the
“Applicable Indenture”), between the Company and the Trustee relating to the Applicable
Securities (as defined below).

RECITALS

          The Guarantor is the wholly owned subsidiary of the Company and has duly authorized the
execution and delivery of this Guarantee to provide for the guarantee by the Guarantor for the
benefit of the Holders of the Company’s 6.25% Convertible Senior Notes due 2014 (each, an
“Applicable Security” and collectively, the “Applicable Securities”) issued
pursuant to the Applicable Indenture.

          For and in consideration of the premises and the purchase of the Applicable Securities by the
Holders thereof, the Guarantor does hereby covenant and agree as follows for the equal and ratable
benefit of the Holders of the Applicable Securities:

ARTICLE I

REPRESENTATIONS AND WARRANTIES OF GUARANTOR

          SECTION 1.1 Guarantor Representations and Warranties. The Guarantor does hereby
represent and warrant that: it is a corporation duly incorporated and in good standing under the
laws of the State of Delaware; it has the power to enter into and perform this Guarantee; it has
duly authorized the execution and delivery of this Guarantee by proper corporate action; and
neither this Guarantee, nor the authorization, execution, delivery and performance hereof, nor the
performance of the agreements herein contained nor the consummation of the transactions herein
contemplated will violate in any material respect any provision of law, any order of any court or
agency of government or any agreement, indenture or other instrument to which the Guarantor is a
party or by which it or its property is bound, or in any material respect be in conflict with

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or result in a breach of or constitute a default under any indenture, agreement or other
instrument or any provision of its certificate of incorporation, bylaws or any requirement of law.
This Guarantee constitutes the legal, valid and binding obligation of the Guarantor enforceable
against the Guarantor in accordance with its terms, except as the enforceability hereof may be
limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting
the rights of creditors generally and by general equitable principles.

ARTICLE II

GUARANTEE OF OBLIGATIONS

          SECTION 2.1 Obligations Guaranteed. The Guarantor, subject to the terms and
conditions set forth in the Applicable Indenture, hereby unconditionally guarantees, on an
unsecured basis, (a) to each Holder of an Applicable Security authenticated and delivered by the
Trustee or Authenticating Agent in accordance with the terms of the Applicable Indenture, (i) the
full and prompt payment of the principal of and interest on such Applicable Security, when and as
the same shall become due and payable, whether at the Stated Maturity thereof, by acceleration or
otherwise, all in accordance with the terms of such Applicable Security and the Applicable
Indenture, (ii) the full and prompt payment of interest on the overdue principal and interest, if
any, on such Applicable Security, at the rate specified in the Applicable Indenture but only to the
extent lawful and (iii) the performance of all other obligations of the Company to such Holder
under such Applicable Security and the Applicable Indenture; and (b) to the Trustee the full and
prompt payment upon written demand therefor of all amounts due it in accordance with the terms of
the Applicable Indenture. If for any reason the Company shall fail punctually to pay any such
principal or interest, the Guarantor hereby agrees to cause any such payment to be made punctually
when and as the same shall become due and payable, whether at the Stated Maturity thereof, by
acceleration or otherwise. All payments by the Guarantor hereunder shall be made in Dollars.

          SECTION 2.2 Obligations Unconditional. The obligations of the Guarantor under this
Guarantee shall be absolute, unconditional and irrevocable and shall constitute a continuing and
present guarantee of payment and not of collectability. Such obligations shall remain in full force
and effect until this Guarantee shall terminate in accordance with the provisions of Section 5.1
hereof, and, to the maximum extent permitted by applicable law, such obligations shall not be
affected, modified, released or impaired by any state of facts or the happening from time to time
of any event, including, without limitation, any of the following, whether or not with notice to,
or the consent of, the Guarantor:

          (a) the waiver, compromise, settlement, release or termination of any or all of the
obligations, covenants or agreements of the Company contained in the Applicable

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Securities or the Applicable Indenture, or of the payment, performance or observance thereof;

          (b) the failure to give notice to the Guarantor of the occurrence of any default or an Event
of Default under the terms and provisions of the Applicable Securities or the Applicable Indenture;

          (c) the assignment or purported assignment of any of the obligations, covenants and agreements
contained in this Guarantee (subject to Section 3.1 hereof);

          (d) the extension of the time for payment of any principal of or interest on the Applicable
Securities or of the time for performance of any obligations, covenants or agreements under or
arising out of the Applicable Securities or the Applicable Indenture or the extension or the
renewal of any thereof;

          (e) the modification or amendment (whether material or otherwise) of any obligation, covenant
or agreement set forth in the Applicable Securities or the Applicable Indenture;

          (f) the taking or the omission to take any of the actions referred to in this Guarantee or in
the Applicable Indenture;

          (g) any failure, omission or delay on the part of, or the inability of, the Trustee or the
Holders of the Applicable Securities for any reason to enforce, assert or exercise any right, power
or remedy conferred on the Trustee, such Holders or any other person in this Guarantee or in the
Applicable Indenture, or the absence of any action to enforce the Applicable Securities against the
Company;

          (h) the voluntary or involuntary liquidation, dissolution, merger, consolidation, sale or
other disposition of all or substantially all the assets, marshaling of assets and liabilities,
receivership, insolvency, bankruptcy, assignment for the benefit of creditors, reorganization,
arrangement, composition with creditors or readjustment of, or other similar proceedings affecting
the Company or any or all of its assets, or any allegation or contest of the validity of the
Applicable Securities or the Applicable Indenture or the disaffirmance of the Applicable Securities
or the Applicable Indenture in any such proceeding; it being specifically understood, consented and
agreed to, to the maximum extent permitted by applicable law, that this Guarantee shall remain and
continue in full force and effect and shall be enforceable against the Guarantor to the same extent
and with the same force and effect as if such proceedings had not been instituted, and it is the
intent and purpose of this Guarantee that the Guarantor shall and does hereby waive, to the maximum
extent permitted by applicable law, all rights and benefits which might accrue to the Guarantor by
reason of any such proceedings;

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          (i) any event or action that would, in the absence of this clause, result in the release or
discharge by operation of law of the Guarantor from the performance or observance of any
obligation, covenant or agreement contained in this Guarantee (subject to Section 3.1 hereof);

          (j) the default or failure of the Guarantor fully to perform any of its obligations set forth
in this Guarantee;

          (k) the release, substitution or replacement of any security pledged for the benefit of the
Holders of the Applicable Securities under the Applicable Indenture;

          (l) the disposition by the Company of any or all of its interest in any capital stock of the
Guarantor, or any change, restructuring or termination of the corporate structure, ownership,
corporate existence or any rights or franchises of the Company (subject to Section 3.1 hereof);

          (m) any other circumstances which might otherwise constitute a legal or equitable discharge or
defense of a surety or a guarantor; or

          (n) any other occurrence whatsoever, whether similar or dissimilar to the foregoing (subject
to Section 3.1 hereof).

          SECTION 2.3 No Waiver or Set-Off. The Guarantor agrees that, to the maximum extent
permitted by law: (a) no act of commission or omission of any kind or at any time on the part of
the Trustee or any Holder of the Applicable Securities, or their successors and assigns, in respect
of any matter whatsoever shall in any way impair the rights of the Trustee or such Holders to
enforce any right, power or benefit under this Guarantee; and (b) no set-off, counterclaim,
reduction, or diminution of any obligation, or any defense of any kind or nature (other than
performance), which the Guarantor or the Company has or may have against the Trustee or such
Holders or any assignee or successor thereof shall be available hereunder to the Guarantor.

          SECTION 2.4 Waiver of Notice; Expenses. The Guarantor hereby expressly waives notice
from the Trustee or the Holders of the Applicable Securities of their acceptance and reliance on
this Guarantee. The Guarantor further waives, to the maximum extent permitted by law, any right
that it may have: (a) to require the Trustee or the Holders of the Applicable Securities to take
action or otherwise proceed against the Company; (b) to require the Trustee or the Holders of the
Applicable Securities to proceed against or exhaust any security pledged for the benefit of the
Holders of the Applicable Securities under the Applicable Indenture; or (c) to require the Trustee
or the Holders of the Applicable Securities otherwise to enforce, assert or exercise any other
right, power or remedy that may be available to the Trustee or such Holders. The Guarantor agrees
to pay all costs, expenses and fees, including all reasonable attorneys’

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fees and expenses, that may be incurred by the Trustee or the Holders in enforcing or
attempting to enforce this Guarantee or protecting the rights of the Trustee or the Holders of the
Applicable Securities following any default on the part of the Guarantor hereunder, whether the
same shall be enforced by suit or otherwise.

          SECTION 2.5 Subrogation of Guarantor; Subordination. Notwithstanding any payment or
payments made by the Guarantor, the Guarantor agrees that it will not enforce, by reason of
subrogation, contribution, indemnity or otherwise, any rights the Trustee or the Holders of the
Applicable Securities may have against the Company until all of the Applicable Securities
guaranteed hereby shall have been finally, indefeasibly and unconditionally paid in full. Any claim
of the Guarantor against the Company arising from payments made by the Guarantor by reason of this
Guarantee shall be in all respects subordinated to the final, indefeasible, unconditional, full and
complete payment or discharge of all of the Applicable Securities guaranteed hereby.

          SECTION 2.6 Reinstatement. This Guarantee shall continue to be effective, or be
automatically reinstated, as the case may be, if at any time payment, or any part thereof, made by
or on behalf of the Company or the Guarantor in respect of any of the Applicable Securities is
rescinded or must otherwise be restored or returned by the Trustee or any Holder of such Applicable
Securities for any reason whatsoever, whether upon the insolvency, bankruptcy, dissolution,
liquidation or reorganization of the Company, or upon or as a result of the appointment of a
receiver, intervenor or conservator of, or trustee or similar officer for the Company or any
substantial part of its properties, or otherwise, all as though such payment had not been made.

          SECTION 2.7 Rights of Holders. The Guarantor expressly acknowledges that: (a) this
Guarantee will be deposited with the Trustee to be held for the benefits of the Holders of the
Applicable Securities; (b) the Trustee has the right to enforce this Guarantee on behalf of the
Holders of the Applicable Securities; (c) the Holders of a majority in aggregate principal amount
of the Outstanding Applicable Securities (voting as a class) shall have the right to direct the
time, method and place of conducting any proceeding for any remedy available to the Trustee or
exercising any trust or power conferred on it with respect to this Guarantee, or to waive any
default hereunder and its consequences (other than a default in any payment required hereunder);
provided, however, that (i) the Trustee may refuse to follow any direction that
conflicts with law or this Guarantee, (ii) the Trustee may refuse to follow any direction that is
unduly prejudicial to the rights of the Holders of the Applicable Securities not consenting, or
that would in the good faith judgment of the Trustee have a substantial likelihood of involving the
Trustee in personal liability and (iii) the Trustee may take any other action deemed proper by the
Trustee which is not inconsistent with such direction; and (d) notwithstanding anything herein to
the contrary, any Holder of an Applicable Security shall have the right to institute any
proceeding, judicial or otherwise, to enforce its rights

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under this Guarantee without first instituting a legal proceeding against the Trustee, the
Company or any other Person.

ARTICLE III

COVENANTS OF THE GUARANTOR

          SECTION 3.1 Consolidation or Merger of the Guarantor. The Guarantor may merge or
consolidate with or into any other Person or sell, convey, transfer or otherwise dispose of all or
substantially all of its assets to any Person, if: (a) (i) in the case of a merger or
consolidation, the Guarantor is the surviving Person or (ii) in the case of a merger or
consolidation where the Guarantor is not the surviving Person and in the case of any such sale,
conveyance, transfer or other disposition, the resulting, surviving or transferee Person is
organized and existing under the laws of the United States or a State thereof and such Person
expressly assumes by supplemental agreement all the obligations of the Guarantor under this
Guarantee; and (b) the Guarantor shall have delivered to the Trustee a certificate signed by the
Chairman or the Vice Chairman of the board of directors of the Guarantor, the President, any
Executive Vice President, or any Senior Vice President, signing alone, or by any Vice President
signing together with the Corporate Secretary, any Assistant Secretary, the Treasurer or any
Assistant Treasurer of the Guarantor (a “Guarantor Officer’s Certificate”) and an Opinion
of Counsel, each to the effect that such merger, consolidation, sale, conveyance, transfer or other
disposition complies with this Section 3.1 and that all conditions precedent herein provided for
relating to such transaction have been complied with. In the event of the assumption by a successor
Person of the obligations of the Guarantor as provided in clause (a)(ii) of the immediately
preceding sentence, such successor Person shall succeed to and be substituted for the Guarantor
hereunder and all such obligations of the Guarantor shall terminate.

          SECTION 3.2 Reports by the Guarantor. During the term hereof, the Guarantor
covenants:

          (a) to file with the Trustee, within 30 days after the Guarantor is required to file the same
with the Commission, copies of the annual reports and of the information, documents and other
reports (or copies of such portions of any of the foregoing as the Commission may from time to time
by rules and regulations prescribe) which the Guarantor may be required to file with the Commission
pursuant to section 13 or section 15(d) of the Exchange Act; or, if the Guarantor is not required
to file information, documents or reports pursuant to either of such sections, then to file with
the Trustee and the Commission, in accordance with rules and regulations prescribed from time to
time by the Commission pursuant to Section 314(a) of the Trust Indenture Act such of the
supplementary and periodic information, documents and reports which may be required pursuant to
section 13 of the Securities Exchange Act in respect of a security listed and

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registered on a national securities exchange as may be prescribed from time to time in such
rules and regulations;

          (b) to file with the Trustee and the Commission, in accordance with the rules and regulations
prescribed from time to time by the Commission pursuant to Section 314(a) of the Trust Indenture
Act such additional information, documents and reports with respect to compliance by the Guarantor
with the conditions and covenants provided for in this Guarantee and the Applicable Indenture, as
may be required from time to time by such rules and regulations;

          (c) to transmit to all Holders of the Applicable Securities within 30 days after the filing
thereof with the Trustee, in the manner and to the extent provided in section 313(c) of the Trust
Indenture Act, such summaries of any information, documents and reports required to be filed by the
Guarantor pursuant to subsections (a) and (b) of this Section 3.2, as may be required by rules and
regulations prescribed from time to time by the Commission pursuant to Section 314(a) of the Trust
Indenture Act; and

          (d) to deliver to the Trustee, within 120 days after the end of each fiscal year of the
Guarantor, a brief certificate from the principal executive officer, principal financial officer,
or principal accounting officer as to his or her knowledge of the Guarantor’s compliance with all
conditions and covenants under this Guarantee. For purposes of this Section 3.2, such compliance
shall be determined without regard to any period of grace or requirement of notice provided under
this Guarantee.

          Notwithstanding the foregoing, the Guarantor shall be deemed to have satisfied the
requirements of this Section 3.2 to file with the Trustee any such reports, information and
documents if the Guarantor files such reports, information and documents, as the case may be, with
the Commission pursuant to the Commission’s Electronic Data Gathering, Analysis and Retrieval
(EDGAR) system or any successor system.

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ARTICLE IV

NOTICES

          SECTION 4.1 Notices. All notices required under the terms and conditions of this
Guarantee shall be in writing and in English, and any such notice may be given by United States
registered or certified mail, return receipt requested, courier service or facsimile, and any such
notice shall be effective when received (or, if delivered by facsimile, upon completion of
transmission and confirmation by the sender (by a telephone call to a representative of the
recipient or by machine confirmation) that such transmission was received), to the Guarantor
addressed to it at American Airlines, Inc., 4333 Amon Center Blvd., Fort Worth, Texas 76155,
Attention: Treasurer. The Guarantor, by notice to the Trustee, may designate additional or
different addresses for subsequent notices or communications.

ARTICLE V

MISCELLANEOUS

          SECTION 5.1 Effective Date; Termination. The obligations of the Guarantor hereunder
shall arise absolutely and unconditionally upon the date of the initial delivery of and
authentication of the Applicable Securities in accordance with the Applicable Indenture. Subject
to Section 2.6, this Guarantee shall terminate on such date as the Applicable Indenture is
discharged and satisfied as to the Applicable Securities.

          SECTION 5.2 Evidence of Compliance with Conditions Precedent. The Guarantor shall
provide the Trustee with such evidence of compliance with such conditions precedent, if any,
provided for in this Guarantee that relate to the matters set forth in Section 314(c) of the Trust
Indenture Act. Any certificate or opinion required to be given by an officer pursuant to Section
314(c)(1) of the Trust Indenture Act may be given in the form of a Guarantor Officer’s Certificate.

          SECTION 5.3 Remedies Not Exclusive. No remedy herein conferred upon or reserved to
the Trustee or Holders of the Applicable Securities is intended to be exclusive of any other
available remedy or remedies, but, to the maximum extent permitted by law, each and every such
remedy shall be cumulative and shall be in addition to every other remedy given under this
Guarantee or now or hereafter existing at law or in equity. No delay or omission to exercise any
right or power accruing upon any default, omission or failure of performance hereunder shall impair
any such right or power or shall be construed to be a waiver thereof, but any such right or power
may be exercised from time to time and as often as may be deemed expedient. In order to entitle the
Trustee and Holders of the Applicable Securities to exercise any remedy reserved to

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them in this Guarantee, to the maximum extent permitted by applicable law, it shall not be
necessary to give any notice. In the event any provision contained in this Guarantee should be
breached, and thereafter duly waived, such waiver shall be limited to the particular breach so
waived and shall not be deemed to waive any other breach hereunder. To the maximum extent permitted
by applicable law, no waiver, amendment, release or modification of this Guarantee shall be
established by conduct, custom or course of dealing, but solely by an instrument in writing duly
executed by the parties to this Guarantee.

          SECTION 5.4 Limitation of Guarantor’s Liability. Any term or provision of this
Guarantee or the Applicable Indenture notwithstanding, the maximum aggregate amount of the
obligations guaranteed hereunder by the Guarantor shall not exceed the maximum amount that can be
hereby guaranteed by the Guarantor without rendering this Guarantee void or voidable under
applicable law relating to fraudulent conveyance or fraudulent transfer or similar laws affecting
the rights of creditors generally.

          SECTION 5.5 Entire Agreement; Counterparts; Successors and Assigns. This Guarantee
constitutes the entire agreement, and supersedes all prior agreements and understandings, both
written and oral, between the parties with respect to the subject matter hereof and may be executed
simultaneously in several counterparts, each of which shall be deemed an original, and all of which
together shall constitute one and the same instrument. To the maximum extent permitted by
applicable law, this Guarantee shall be binding upon the successors and permitted assigns of the
Guarantor and shall inure to the benefit of, and shall be enforceable by, each of the Holders and
the Trustee and its respective successors and permitted assigns.

          SECTION 5.6 Severability. To the maximum extent permitted by applicable law, any
provision of this Guarantee which is prohibited or unenforceable in any jurisdiction shall, as to
such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without
invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

          SECTION 5.7 Benefits Acknowledged. The Guarantor acknowledges that it will receive
direct and indirect benefits from the financing arrangements contemplated by the Applicable
Indenture and that its guarantee and waivers pursuant to its Guarantee are knowingly made in
contemplation of such benefits.

          SECTION 5.8 No Recourse Against Others. No past, present or future director, officer,
employee, agent, representative, member, manager, trustee or stockholder, as such, of the Company,
the Guarantor or any successor Person or any Affiliate of any thereof shall have any liability for
any obligations of the Company, the Guarantor or any successor Person or any Affiliate of any
thereof, either directly or

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through the Company, the Guarantor or any successor Person or any Affiliate of any thereof,
under the Applicable Securities, the Applicable Indenture or this Guarantee or for any claim based
on, in respect of or by reason of such obligations or their creation, whether by virtue of any rule
of law, statute or constitutional provision or by the enforcement of any assessment or by any legal
or equitable proceeding or otherwise. By accepting an Applicable Security, each Holder shall waive
and release all such liability. The waiver and release shall be part of the consideration for the
issue of the Applicable Securities.

          SECTION 5.9 Governing Law. THIS GUARANTEE HAS BEEN DELIVERED IN THE STATE OF NEW YORK
AND SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK,
INCLUDING ALL MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE, AND THE OBLIGATIONS, RIGHTS AND
REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. This Guarantee
is subject to the Trust Indenture Act, and if any provision hereof limits, qualifies or conflicts
with a provision of the Trust Indenture Act that is required by the Trust Indenture Act to be a
part of and govern this Guarantee, the latter provision shall control. If any provision of this
Guarantee modifies or excludes any provision of the Trust Indenture Act that may be so modified or
excluded, the latter provision shall be deemed to apply to this Guarantee as so modified, or to be
excluded, as the case may be, whether or not such provision of this Guarantee refers expressly to
such provision of the Trust Indenture Act. The Guarantor is an “obligor” as such term is defined
in and solely for purposes of the Trust Indenture Act and is required to comply with the provisions
of the Applicable Indenture, compliance with which is required by an “obligor” under the Trust
Indenture Act.

          SECTION 5.10 Amendment; Modification. This Guarantee may be amended, supplemented or
modified pursuant to the terms of the Applicable Indenture.

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          IN WITNESS WHEREOF, the Guarantor has caused this Guarantee to be executed in its corporate
name, as of the date first above written.

	 	 	 	 	 
	 	AMERICAN AIRLINES, INC.

 	 
	 	By:  	/s/ Thomas W. Horton
 	 
	 	 	Name:  	Thomas W. Horton 	 
	 	 	Title:  	Executive Vice President —

Finance and Planning and

Chief Financial OfficerExhibit 10.1

Exhibit 10.1

Name of Subscriber: Parker H. Petit

SUBSCRIPTION AGREEMENT

5% CONVERTIBLE PROMISSORY NOTE

MiMedx Group, Inc.

811 Livingston Ct. SE, Suite B

Marietta, GA 30067

Re: 5% Convertible Promissory Note of MiMedx Group, Inc.

ARTICLE 1

SUBSCRIPTION

Section 1.1 Subscription. The undersigned subscriber (“Subscriber”) hereby
irrevocably subscribes for and agrees to purchase a 5% Convertible Senior Secured Promissory Note
(the “Note”) from MiMedx Group, Inc., a Florida corporation (the “Company”), in the principal
amount set forth below, on the terms and conditions described in this subscription agreement (this
“Subscription Agreement”) and the 5% Convertible Promissory Note (the “Note”) attached hereto.

Amount and Dollar Value of Note Subscribed For: $500,000

THE UNDERSIGNED SUBSCRIBER IS REQUIRED TO CHECK THE APPROPRIATE BOX ON THE ACCREDITED INVESTOR
CERTIFICATION FOUND ON PAGE 7 HEREOF TO CERTIFY HIS, HER OR ITS STATUS AS AN ACCREDITED INVESTOR.

Section 1.2 Advances. Until December 20, 2009, the Subscriber agrees to advance to
the Company up to $500,000 as requested by the Company to fund its working capital needs.

Section 1.3 Conversion. At any time at the election of the Subscriber, the Notes may
be converted into common stock of the Company at the price per share at which the Company sells the
Company’s Common Stock pursuant to the $5,000,000 private placement approved by the Corporation’s
Board of Directors on September 22, 2009, or, if there are no such sales, $.60 per share.

Section 1.4 Acceptance or Rejection. The undersigned understands that the Company
will accept this subscription) only after the Subscriber has executed and delivered this
Subscription Agreement, together with the accompanying Note and Warrant Agreement (the “Warrant”).
Copies of the fully executed Subscription Agreement, Note and Warrant will be delivered to you
promptly after acceptance.

ARTICLE 2

INVESTOR REPRESENTATIONS, WARRANTIES AND COVENANTS

The undersigned makes the following representations, warranties and covenants with the intent
that the same will be relied upon by the Company:

 

 

 

Section 2.1 Information. The undersigned acknowledges that the undersigned has been
offered the opportunity to obtain information, to verify the accuracy of the information received
by him, her or it and to evaluate the merits and risks of this investment and to ask questions of and receive satisfactory
answers concerning the terms and conditions of this investment. The undersigned understands that
information regarding the Company is on file with the Securities and Exchange Commission (“SEC”),
and the undersigned has reviewed such documents and information as he, she or it has deemed
necessary in order to make an informed investment decision with respect to the investment being
made hereby. The Company has made its officers available to the undersigned to answer questions
concerning the Company and the investment being made hereby. In making the decision to purchase
the Note, the undersigned has relied and will rely solely upon independent investigations made by
him, her or it. The undersigned is not relying on the Company with respect to any tax or other
economic considerations involved in this investment. Other than as set forth in Article 3 hereof,
no representations or warranties have been made to the undersigned by the Company. To the extent
the undersigned has deemed it appropriate, the undersigned has consulted with his, her or its own
attorneys and other advisors with respect to all matters concerning this investment.

Section 2.2 Not a Registered Offering. The undersigned understands that the Note
issued hereunder (including any securities issuable upon conversion thereof) has not been and is
not being registered with the SEC nor with the governmental entity charged with regulating the
offer and sale of securities under the securities laws and regulations of the state of residence of
the undersigned and are being offered and sold pursuant to the exemption from registration provided
in Section 4(2) of the Securities Act of 1933, as amended (the “1933 Act”), and Rule 506 of
Regulation D (“Regulation D”) promulgated under the 1933 Act by the SEC and limited exemptions
provided in the “Blue Sky” laws of the state of residence of the undersigned, and that no
governmental agency has recommended or endorsed the Note or made any finding or determination
relating to the fairness for investment of the Note (including any securities issuable upon
conversion thereof) or of the adequacy of the information on file with the SEC or this Subscription
Agreement. The undersigned is unaware of, and is in no way relying on, any form of general
solicitation or general advertising in connection with the offer and sale of the Note (including
any securities issuable upon conversion thereof). The undersigned is purchasing the Note without
being furnished any offering or sales literature or prospectus.

Section 2.3 Purchase for Investment. The undersigned is subscribing for the Note
solely for his, her or its own account for investment purposes and not with a view to, or with any
intention of, a distribution, sale or subdivision for the account of any other individual,
corporation, firm, partnership, limited liability company, joint venture, association or person.
The undersigned represents that he, she or it understands that there is no public market for the
Note and that no such market will ever exist.

Section 2.4 Accredited Investor and other Investment Representations. The undersigned
represents and warrants that the undersigned is an “accredited investor” as defined in Rule 501(a)
of Regulation D under the 1933 Act and that the undersigned has accurately completed the Accredited
Investor Certification, which precedes the signature page to this Subscription Agreement.

Section 2.5 Restrictions on Transfer.

(a) The undersigned understands and agrees that because the offer and sale
of the Note subscribed for herein have not been registered under federal or
state securities laws, the Note (including any securities issuable upon
conversion thereof) acquired may not at any time be sold or otherwise disposed
of by the undersigned unless it is registered under the 1933 Act or there is
applicable to such sale or other disposition one of the exemptions from
registration set forth in the 1933 Act, the rules and regulations of the SEC
thereunder and applicable state law. The undersigned further understands that
the Company has no obligation or present intention to register the Note
(including any securities issuable upon conversion thereof) or to permit its
sale other than in strict compliance with the 1933 Act, SEC rules and
regulations thereunder, and applicable state law. The undersigned recognizes
that, as a result of the aforementioned restrictions, there is no and will be
no public market for the Note subscribed for hereunder. The undersigned
expects to hold the Note (and any securities issuable upon conversion thereof)
for an indefinite period and understands that the undersigned will not readily
be able to liquidate this investment even in case of an emergency.

 

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(b) The Note (and the securities to be issued to the undersigned upon
conversion thereof) shall have endorsed thereon legends substantially as
follows:

“THE SECURITIES REPRESENTED BY THIS PROMISSORY NOTE (AND THE
SECURITIES INTO WHICH IT IS CONVERTIBLE) HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR ANY STATE
SECURITIES LAW AND MAY NOT BE SOLD, PLEDGED, HYPOTHECATED OR
TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT
COVERING THESE SECURITIES UNDER THE ACT AND ANY APPLICABLE STATE
SECURITIES LAWS OR AN OPINION OF COUNSEL IN FORM AND SUBSTANCE
SATISFACTORY TO THE COMPANY THAT REGISTRATION IS NOT REQUIRED UNDER
THE ACT OR UNDER APPLICABLE STATE SECURITIES LAWS.”

Section 2.6 Investment Risks. The undersigned represents that he, she or it has read
and understands all of the “Risk Factors” set forth in the Company’s most recent Form 10-K and Form
10-Q on file with the SEC. Without limiting the foregoing, the undersigned has such knowledge and
experience in financial and business matters that he, she or it is capable of evaluating the merits
and risks of an investment in the Note. The undersigned recognizes that the Company is a
development stage company with an extremely limited financial and operating history, that the
development of medical devices is difficult, time consuming, and expensive, and that an investment
in the Company involves very significant risks. The undersigned further recognizes that (A) an
investment in the Company is highly speculative, (B) an investor may not be able to liquidate his,
her or its investment, (C) transferability of the Note is extremely limited, (D) in the event of a
disposition, the investor could sustain a loss of his, her or its entire investment, (E) the
Company will require significant additional financing in order to continue its business, (F) the
Company has never had any revenues and may not have any significant revenues for the foreseeable
future, and (G) the Company intends to raise additional funds in the near future through the sale
of equity, and that any such sale below the conversion events set forth in the Note may be on terms
to investors that are more favorable than the terms to the undersigned. The undersigned is capable
of bearing the economic risks of an investment in the Note, including, but not limited to, the
possibility of a complete loss of the undersigned’s investment, as well as limitations on the
transferability of the Note, which may make the liquidation of an investment in the Note difficult
or impossible for the indefinite future. The undersigned acknowledges that legal advice has been
provided to the Company by Womble Carlyle Sandridge & Rice, PLLC, and that such law firm has
neither provided advice to the Subscriber nor performed any due diligence on the Subscriber’s
behalf. The undersigned acknowledges that he, she or it has been advised to seek his, her or its
own independent counsel from attorneys, accountants and other advisors with respect to an
investment in this offering.

Section 2.7 Residence. The undersigned, if a natural person, is a bona fide resident
of the state set forth in his or her address on the signature page to this Subscription Agreement.
The undersigned, if an entity, has its principal place of business at the mailing address set forth
on the signature page of this Subscription Agreement.

Section 2.8 Investor Information; Survival of Representations and Warranties and
Covenants. The representations, warranties, covenants and agreements contained in this Article
2 shall survive the date hereof. Any information that the undersigned is furnishing to the Company
in this Subscription Agreement is correct and complete as of the date of this Subscription
Agreement and if there should be any material change in such information prior to his, her or its
admission as a shareholder of the Company, the undersigned will immediately furnish such revised or
corrected information to the Company.

Section 2.9 Due Organization. If the undersigned is a corporation, partnership or
limited liability company, the undersigned is duly organized, validly existing and in good standing
under the jurisdiction of its organization, has all requisite power and authority to own, lease and
operate its properties, to carry on its business as currently being conducted, to enter into this
Subscription Agreement and to perform its obligations hereunder and thereunder.

 

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Section 2.10 Due Authorization. If the undersigned is a corporation, partnership or
limited liability company, the execution, delivery and performance by the undersigned of this
Subscription Agreement and the consummation of the transactions contemplated hereby and thereby
have been duly authorized by all necessary action on the part of the undersigned.

Section 2.11 Capacity. If the undersigned is an individual, the undersigned has the
capacity to execute, deliver and perform this Subscription Agreement.

Section 2.12 Enforceability. This Subscription Agreement will be, upon its execution
and delivery, a valid and binding obligation of the undersigned, enforceable against the
undersigned in accordance with its terms.

Section 2.13 No Conflicts. Neither the execution, delivery or performance by the
undersigned of this Subscription Agreement, nor the consummation by the undersigned of the
transactions contemplated hereby will (A) conflict with or result in a breach of any provision of
the undersigned’s certificate of incorporation, bylaws or other organizational documents, (B) cause
a default (or give rise to any right of termination, cancellation or acceleration) under any of the
terms, conditions or provisions of any agreement, instrument or obligation to which the undersigned
is a party or (C) violate any law, statute, rule, regulation, judgment, order, writ, injunction or
decree of any court, administrative agency or governmental body, in each case applicable to the
undersigned or its properties or assets.

Section 2.14 No Approvals. No filing with, and no permit, authorization, consent or
approval of, any person (governmental or private) is necessary for the consummation by the
undersigned of the transactions contemplated by this Subscription Agreement.

Section 2.15 Brokerage Commissions and Finders’ Fees. Neither the undersigned nor
anyone acting on the undersigned’s behalf has taken any action which has resulted, or will result,
in any claims for brokerage commissions or finders’ fees by any person in connection with the
transactions contemplated by this Subscription Agreement.

ARTICLE 3

COMPANY REPRESENTATIONS AND WARRANTIES

The Company makes the following representations and warranties with the intent that the same
may be relied upon by the undersigned:

Section 3.1 Due Organization. The Company is a corporation duly organized, validly
existing and in good standing under the jurisdiction of its organization, has all requisite power
and authority to own, lease and operate its properties, to carry on its business as currently being
conducted, to enter into this Subscription Agreement and to perform its obligations hereunder.

Section 3.2 Due Authorization. The execution, delivery and performance by the Company
of this Subscription Agreement and the consummation of the transactions contemplated hereby have
been duly authorized by all necessary action on the part of the Company.

Section 3.3 Enforceability. This Subscription Agreement is, or upon its execution and
delivery will be, a valid and binding obligation of the Company, enforceable against the Company in
accordance with its respective terms.

Section 3.4 No Conflicts. Neither the execution, delivery or performance by the
Company of this Subscription Agreement, nor the consummation by the Company of the transactions
contemplated hereby, will (A) conflict with or result in a breach of any provision of the Company’s
certificate of incorporation or by-laws, (B) cause a default (or give rise to any right of
termination, cancellation or acceleration) under any of the terms, conditions or provisions of any
agreement, instrument or obligation to which the Company is a party or (C) violate any law, statute, rule, regulation, judgment, order, writ, injunction or decree of any court,
administrative agency or governmental body, in each case applicable to the Company or its
properties or assets.

 

-4-

 

Section 3.5 No Approvals. Assuming the accuracy of the representations and warranties
contained in Article 2, no filing with, and no permit, authorization, consent or approval of, any
person (governmental or private) is necessary for the consummation by the Company of the
transactions contemplated by this Subscription Agreement, other than filings under Federal and
state securities laws.

ARTICLE 4

MISCELLANEOUS PROVISIONS

Section 4.1 Notices and Addresses. All notices required to be given under this
Subscription Agreement shall be in writing and shall be mailed by certified or registered mail,
hand delivered or delivered by next business day courier. Any notice to be sent to the Company
shall be mailed to the principal place of business of the Company or at such other address as the
Company may specify in a notice sent to the undersigned in accordance with this Section. All
notices to the undersigned shall be mailed or delivered to the address set forth on the signature
page to this Subscription Agreement or to such other address as the undersigned may specify in a
notice sent to the Company in accordance with this Section. Notices shall be effective on the date
three days after the date of mailing or, if hand delivered or delivered by next day business
courier, on the date of delivery; provided, however, that notices to the Company shall be effective
upon receipt.

Section 4.2 Governing Law; Jurisdiction. (A) THIS SUBSCRIPTION AGREEMENT SHALL BE
GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF FLORIDA WITHOUT
REGARD TO ITS CONFLICTS OF LAWS PRINCIPLES, (B) THE UNDERSIGNED HEREBY IRREVOCABLY SUBMITS TO THE
JURISDICTION OF ANY FLORIDA STATE COURT OR UNITED STATES FEDERAL COURT SITTING IN THE STATE OF
FLORIDA, OVER ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS SUBSCRIPTION AGREEMENT OR
ANY AGREEMENT CONTEMPLATED HEREBY, AND (C) THE UNDERSIGNED HEREBY IRREVOCABLY AGREES THAT ALL
CLAIMS IN RESPECT OF SUCH ACTION OR PROCEEDING SHALL BE HEARD AND DETERMINED IN SUCH FLORIDA STATE
OR FEDERAL COURT. THE UNDERSIGNED FURTHER WAIVES ANY OBJECTION TO VENUE IN SUCH COURT AND ANY
OBJECTION TO AN ACTION OR PROCEEDING IN SUCH COURT ON THE BASIS OF A NON-CONVENIENT FORUM. THE
UNDERSIGNED FURTHER AGREES THAT ANY ACTION OR PROCEEDING BROUGHT AGAINST THE COMPANY SHALL BE
BROUGHT IN SUCH COURTS. THE UNDERSIGNED AGREES TO WAIVE ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM OR
CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS SUBSCRIPTION AGREEMENT OR ANY DOCUMENT OR
AGREEMENT CONTEMPLATED HEREBY.

Section 4.3 Assignability. This Subscription Agreement and the rights, interests and
obligations hereunder are not transferable or assignable by the undersigned and the undersigned
acknowledges and agrees that any transfer or assignment of the Note shall be made only in
accordance with all applicable laws.

Section 4.4 Successors and Assigns. This Subscription Agreement shall be binding upon
and inure to the benefit of the parties hereto, and each of their respective legal representatives
and permitted successors.

Section 4.5 Counterparts. This Subscription Agreement may be executed in multiple
counterparts, each of which shall be deemed an original, but all of which shall constitute one
instrument.

Section 4.6 Modifications to Be in Writing. This Subscription Agreement, together
with the Note and Warrant, constitutes the entire understanding of the parties hereto with respect
to the subject matter hereof and no amendment, restatement, modification or alteration will be
binding unless the same is in writing signed by the party against whom any such amendment,
restatement, modification or alteration is sought to be enforced.

Section 4.7 Captions. The captions are inserted for convenience of reference only and
shall not affect the construction of this Subscription Agreement.

 

-5-

 

Section 4.8 Validity and Severability. If any provision of this Subscription
Agreement is held invalid or unenforceable, such decision shall not affect the validity or
enforceability of any other provision of this Subscription Agreement, all of which other provisions
shall remain in full force and effect.

Section 4.9 Statutory References. Each reference in this Subscription Agreement to a
particular statute or regulation, or a provision thereof, shall be deemed to refer to such statute
or regulation, or provision thereof, or to any similar or superseding statute or regulation, or
provision thereof, as is from time to time in effect.

****

 

-6-

 

Accredited Investor Certification

YOU MUST BE ABLE TO CHECK OFF AT LEAST ONE OF THE BOXES BELOW IN ORDER TO PURCHASE THE NOTE.

	 	o	 	The undersigned is a natural person who had individual income of more than $200,000 in each of
the most recent two years or joint income with his spouse in excess of $300,000 in each of the
most recent two years and reasonably expects to reach that same income level for this year;
“income”, for purposes hereof, should be computed as follows: individual adjusted gross
income, as reported (or to be reported) on a federal income tax return, increased by (a) any
deduction of long-term capital gains under section 1202 of the Internal Revenue Code of 1986
(the “Code”), (b) any deduction for depletion under Section 611 et seq. of the Code, (c) any
exclusion for interest under Section 103 of the Code and (d) any losses of a partnership as
reported on Schedule E of Form 1040;

	 
	 	o	 	The undersigned is a natural person whose individual net worth (i.e., total assets in excess of
total liabilities), or joint net worth with his spouse, will at the time of purchase of the
Note be in excess of $1,000,000;

	 
	 	o	 	The undersigned is a corporation, Massachusetts or similar business trust, partnership, or
limited liability company, or any organization described in Section 501(c)(3) of the Internal
Revenue Code, not formed for the specific purpose of acquiring the Note, with total assets in
excess of $5,000,000;

	 
	 	o	 	The undersigned is a trust (other than a revocable grantor trust), which trust has total assets
in excess of $5,000,000, which is not formed for the specific purpose of acquiring the Note
offered hereby and whose purchase is directed by a sophisticated person as described in Rule
506(b)(2)(ii) of Regulation D and who has such knowledge and experience in financial and
business matters that he is capable of evaluating the risks and merits of an investment in the
Note;

	 
	 	o	 	The undersigned is an employee benefit plan within the meaning of Title I of the Employee
Retirement Income Security Act of 1974, and either: (a) the investment decision will be made by
a plan fiduciary, as defined in Section 3(21) of such act, which is either a bank, insurance
company, or a registered investment adviser; or (b) the employee benefit plan has total assets
in excess of $5,000,000; or (c) the employee benefit plan is a self-directed plan, including an
Individual Retirement Account, with the meaning of Title I of such act, and the person
directing the purchase is an Accredited Investor**;

	 
	 	**	 	NOTE. If the undersigned is relying solely on this item for its Accredited Investor status,
please print the name of the person directing the purchase in the following space and furnish a
completed and signed Accredited Investor Certification for such person.

	 
	 	o	 	The undersigned is an investor otherwise satisfying the requirements of Section 501(a)(1), (2)
or (3) of Regulation D promulgated under the 1933 Act, which includes, but is not limited to, a
self-directed employee benefit plan where investment decisions are made solely by persons who
are “accredited investors” as otherwise defined in Regulation D;

	 
	 	o	 	The undersigned is a member of the Board of Directors or an executive officer of the Company; or

	 
	 	o	 	The undersigned is an entity (including an IRA or revocable grantor trust but other than a
conventional trust) in which all of the equity owners meet the requirements of at least one of
the above subparagraphs.

 

-7-

 

SUBSCRIPTION AGREEMENT

COUNTERPART SIGNATURE PAGE

If the subscriber is an INDIVIDUAL, or if purchased as JOINT TENANTS, as TENANTS IN COMMON, or a
COMMUNITY PROPERTY:

	 	 	 	 	 
	 	 	 
	Parker H. Petit	 	Social Security Number
	 
	 	 	 	 
	/s/: Parker H. Petit
	 	 	 	 
	 	 	 
	Signature of subscriber	 	Signature of subscriber
	 
	 	 	 	 
	September 22, 2009

	 	Address:
	 	300 Colonial Center Parkway, Suite 130
	 

	 	 	 	 
	Date

	 	 	 	Roswell, GA 30076
	 

	 	 	 	 

SUBSCRIPTION ACCEPTED AND AGREED TO this 22nd day of September 2009.

MiMedx Group, Inc.

	 	 	 	 	 	 	 
	By:	 	/s/: Michael J. Culumber	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Michael J. Culumber	 	 
	 

	 	 	 	 	 	 
	 

	 	Title:
	 	Chief Financial Officer

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