Document:

TherapeuticsMD, Inc. 10-K

     

    
        Exhibit 4.2
    

    
         

DESCRIPTION OF THE REGISTRANT’S SECURITIES
REGISTERED PURSUANT TO SECTION 12 

OF THE SECURITIES EXCHANGE ACT OF 1934

 

As of December 31, 2019, the only class of securities of TherapeuticsMD,
Inc., a Nevada corporation (the “Company”), registered under Section 12 of the Securities Exchange Act of 1934, as
amended, is common stock, par value $0.001 per share (“common stock”).

 

Overview

 

This section describes the general terms of the Company’s
common stock. The Company’s common stock and the rights of the holders of its common stock are subject to the applicable
provisions of the Nevada Private Corporation Code, which is referred to herein as “Nevada law,” the Company’s
amended and restated articles of incorporation, as amended, the Company’s bylaws, as amended, and the rights of the holders
of the Company’s preferred stock, if any, as well as some of the terms of the Company’s outstanding indebtedness.

 

Under the Company’s amended and restated articles of incorporation,
as amended, the Company has the authority to issue 350,000,000 shares of common stock, par value $0.001 per share. As of February
17, 2020, there were 271,526,176 shares of common stock outstanding.

 

The following description of the Company’s common stock may
not be complete and is subject to, and qualified in its entirety by reference to, Nevada law and the actual terms and provisions
contained in the Company’s amended and restated articles of incorporation and the Company’s bylaws, each as amended
from time to time.

 

Voting Rights

Each outstanding share of the Company’s common stock
is entitled to one vote per share of record on all matters submitted to a vote of stockholders and to vote together as a single
class for the election of directors and in respect of other corporate matters. At a meeting of stockholders at which a quorum is
present, for all matters other than the election of directors, an affirmative vote of the majority of shares entitled to vote on
a matter and that are represented either in person or by proxy at a meeting of stockholders decides all questions, unless the matter
is one upon which a different vote is required by express provision of law or the Company’s amended and restated articles
incorporation or the Company’s bylaws, each as may be amended from time to time. Directors will be elected by a plurality
of the votes of the shares present at a meeting. Holders of shares of common stock do not have cumulative voting rights with respect
to the election of directors or any other matter. The Company has adopted a majority voting policy as part of its Corporate Governance
Guidelines. The majority voting policy is applicable solely to uncontested elections, which are those elections in which the number
of nominees for election is less than or equal to the number of directors to be elected. Under the majority voting policy, any
nominee for director who receives more “withheld” votes than “for” votes in an uncontested election must
submit a written offer to resign as director. Any such resignation will be reviewed by the Nominating and Corporate Governance
Committee and, within 90 days after the election, the independent members of the Company’s board of directors will determine
whether to accept, reject or take other appropriate action with respect to, the resignation, in furtherance of the best interests
of the Company and its stockholders.

Dividends

Holders of the Company’s common stock are entitled to
receive dividends or other distributions when, as and if declared by the Company’s board of directors. The right of the Company’s
board of directors to declare dividends, however, is subject to any rights of the holders of other classes of the Company’s
capital stock, any indebtedness outstanding from time to time and the availability of sufficient funds, as determined under Nevada
law, to pay dividends.

Preemptive Rights

The holders of the Company’s common stock do not have
preemptive rights to purchase or subscribe for any of the Company’s capital stock or other securities.

Redemption

Shares of the Company’s common stock are not subject
to redemption by operation of a sinking fund or otherwise.

    	 

     

    

 

Liquidation Rights

In the event of any liquidation, dissolution, or winding up
of the Company, subject to the rights, if any, of the holders of other classes of the Company’s capital stock, the holders
of shares of the Company’s common stock are entitled to receive any of the Company’s assets available for distribution
to its stockholders ratably in proportion to the number of shares held by them.

Options and Other Stock-Based Rights

From time to time, the Company has issued and expect to continue
to issue options and other stock-based rights to various lenders, investors, consultants, employees, officers and directors of
the Company.

Listing

The Company’s common stock is listed on the Nasdaq Global
Select Market of the Nasdaq Stock Market LLC under the symbol “TXMD.”

Transfer Agent and Registrar

The transfer agent and registrar for the Company’s common
stock is Computershare Trust Company, N.A.

 

Certain Provisions of Nevada Law and the Company’s Articles
of Incorporation and Bylaws

 

The following paragraphs summarize certain provisions of Nevada
law and the Company’s amended and restated articles of incorporation, as amended, and bylaws, as amended. The summary does
not purport to be complete and is subject to and qualified in its entirety by reference to Nevada law and to the Company’s
amended and restated articles of incorporation, as amended, and bylaws, as amended, copies of which are on file with the Securities
and Exchange Commission as exhibits to reports previously filed by the Company.

 

General

 

Certain provisions of the Company’s amended and restated articles
of incorporation, as amended, and bylaws, as amended, and Nevada law could make an acquisition of the Company by a third party,
a change in the Company’s incumbent management, or a similar change in control more difficult, including:

 

		·	an acquisition of the Company by means of a tender or exchange offer;

		·	an acquisition of the Company by means of a proxy contest or otherwise; or

		·	the removal of a majority or all of the Company’s incumbent officers and directors.

 

These provisions, which are summarized below, are likely to discourage
certain types of coercive takeover practices and inadequate takeover bids. These provisions are also designed to encourage persons
seeking to acquire control of the Company to first negotiate with the Company’s board of directors. The Company believes
that these provisions help to protect its potential ability to negotiate with the proponent of an unfriendly or unsolicited proposal
to acquire or restructure the Company, and that this benefit outweighs the potential disadvantages of discouraging such a proposal
because the Company’s ability to negotiate with the proponent could result in an improvement of the terms of the proposal.
The existence of these provisions which are described below could limit the price that investors might otherwise pay in the future
for the Company’s securities.

 

Articles of Incorporation and Bylaws

 

Authorized But Unissued
Capital Stock. The Company has shares of common stock and preferred stock available for future issuance without stockholder
approval, subject to any limitations imposed by the listing standards of any securities exchange on which the Company’s
stock may be listed. The Company may utilize these additional shares for a variety of corporate
purposes, including for future public offerings to raise additional capital or facilitate corporate acquisitions or for payment
as a dividend on the Company’s capital stock. The existence of unissued and
unreserved common stock and preferred stock may enable the Company’s board of
directors to issue shares to persons friendly to current management or to issue preferred stock with terms that could have the
effect of making it more difficult for a third party to acquire, or could discourage a third party from seeking to acquire, a controlling
interest in the Company by means of a merger, tender offer, proxy contest, or otherwise.
In addition, if the Company issues preferred stock, the issuance could adversely affect
the voting power of holders of common stock and the likelihood that such holders will receive dividend payments and payments upon
liquidation.

 

    	 

     

    

 

 

Blank Check Preferred Stock.
The Company’s board of directors, without stockholder approval, has the authority under the Company’s amended and restated
articles of incorporation, as amended, to issue preferred stock with rights superior to the rights of the holders of common stock.
As a result, preferred stock could be issued quickly and easily, could impair the rights of holders of common stock, and could
be issued with terms calculated to delay or prevent a change in control or make removal of management more difficult.

 

Election of Directors.
The Company’s bylaws provide that a majority of directors then in office may fill any vacancy occurring on the Company’s
board of directors, even though less than a quorum may then be in office. These provisions may discourage a third party from voting
to remove incumbent directors and simultaneously gaining control of the Company’s board of directors by filling the vacancies
created by that removal with its own nominees.

 

Removal of Directors.
Except in certain cases for directors elected by the holders of any series of preferred stock, a director may be removed only by
the affirmative vote of two-thirds or more of the combined voting power of the then issued and outstanding shares of the Company’s
capital stock entitled to vote in the election of directors, voting together as a single class.

 

Stockholder Meetings.
The Company’s bylaws do not permit stockholders to call a special meeting of stockholders. Rather, only the Company’s
board of directors or such person or persons authorized by the Company’s board of directors will be able to call special
meetings of stockholders. This provision may discourage another person or entity from making a tender offer, even if it acquired
a majority of the Company’s outstanding voting stock, because the person or entity could only take action at a duly called
stockholders’ meeting or by written consent.

 

Anti-takeover Effects of Nevada Law

 

Business Combinations with
Interested Stockholders

 

The “business combination with interested stockholders”
provisions of Sections 78.411 to 78.444, inclusive, of the Nevada Revised Statutes, or NRS, generally prohibit a Nevada corporation
with at least 200 stockholders of record from engaging in various “combination” transactions with any interested stockholder
for a period of two years after the date of the transaction in which the person became an interested stockholder, unless the combination
is approved by the Company’s board of directors prior to the date the interested stockholder obtained such status or the
combination is approved by the Company’s board of directors and at such time or thereafter is approved at a meeting of the
stockholders by the affirmative vote of stockholders representing at least 60% of the outstanding voting power held by disinterested
stockholders, and extends beyond the expiration of the two-year period, unless:

 

		·	the combination was approved by the Company’s board of directors prior to the person becoming
an interested stockholder or the transaction by which the person first became an interested stockholder was approved by the Company’s
board of directors before the person became an interested stockholder or the combination is later approved by a majority of the
voting power held by disinterested stockholders; or

		·	if the consideration to be paid by the interested stockholder is at least equal to the highest
of: (a) the highest price per share paid by the interested stockholder within the two years immediately preceding the date of the
announcement of the combination or in the transaction in which it became an interested stockholder, whichever is higher; (b) the
market value per share of common stock on the date of announcement of the combination and the date the interested stockholder acquired
the shares, whichever is higher; or (c) for holders of preferred stock, the highest liquidation value of the preferred stock, if
it is higher.

 

Notwithstanding the foregoing, NRS 78.411 to 78.444, inclusive,
do not apply to any combination of a resident domestic corporation with an interested stockholder after the expiration of four
years after the person first became an interested stockholder.

 

    	 

     

    

 

A “combination” is generally defined to include mergers
or consolidations or any sale, lease exchange, mortgage, pledge, transfer, or other disposition, in one transaction or a series
of transactions, with an “interested stockholder” having: (a) an aggregate market value equal to more than 5%
of the aggregate market value of the assets of the corporation, (b) an aggregate market value equal to more than 5% of the
aggregate market value of all outstanding voting shares of the corporation, (c) more than 10% of the earning power or net
income of the corporation, and (d) certain other transactions with an interested stockholder or an affiliate or associate
of an interested stockholder.

In general, an “interested stockholder” is a person
who, together with affiliates and associates, owns (or within two years, did own) 10% or more of a corporation’s voting stock.
The statute could prohibit or delay mergers or other takeover or change in control attempts and, accordingly, may discourage attempts
to acquire the Company even though such a transaction may offer the Company’s stockholders the opportunity to sell their
stock at a price above the prevailing market price.

 

Control Share Acquisitions

 

The “control share” provisions
of Sections 78.378 to 78.3793, inclusive, of the NRS apply to “issuing corporations” that are Nevada corporations with
at least 200 stockholders of record, including at least 100 stockholders of record who are Nevada residents, and that conduct business
directly or indirectly in Nevada. The control share statute prohibits an acquirer, under certain circumstances, from voting its
shares of a target corporation’s stock after crossing certain ownership threshold percentages, unless the acquirer obtains
approval of the target corporation’s disinterested stockholders. The statute specifies three thresholds: one-fifth or more
but less than one-third, one-third but less than a majority, and a majority or more, of the outstanding voting power. Generally,
once an acquirer crosses one of the above thresholds, those shares in an offer or acquisition and acquired within 90 days thereof
become “control shares” and such control shares are deprived of the right to vote until disinterested stockholders
restore the right. These provisions also provide that if control shares are accorded full voting rights and the acquiring person
has acquired a majority or more of all voting power, all other stockholders who do not vote in favor of authorizing voting rights
to the control shares are entitled to demand payment for the fair value of their shares in accordance with statutory procedures
established for dissenters’ rights.

 

A corporation may elect to not be governed
by, or “opt out” of, the control share provisions by making an election in its articles of incorporation or bylaws,
provided that the opt-out election must be in place on the 10th day following the date an acquiring person has acquired a
controlling interest, that is, crossing any of the three thresholds described above. The Company has not opted out of the control
share statutes, and will be subject to these statutes if we are an “issuing corporation” as defined in such statutes.

 

The effect of the Nevada control share
statutes is that the acquiring person, and those acting in association with the acquiring person, will obtain only such voting
rights in the control shares as are conferred by a resolution of the stockholders at an annual or special meeting. The Nevada control
share law, if applicable, could have the effect of discouraging takeovers of the Company.TherapeuticsMD, Inc. 10-K

Exhibit 10.18 

AMENDMENT
NO. 1

TO FINANCING AGREEMENT

AMENDMENT
NO. 1 TO FINANCING AGREEMENT, dated as of December 27, 2019 (this "Amendment"), to the Financing Agreement,
dated as of April 24, 2019 (as amended, restated, supplemented or otherwise modified from time to time, the "Financing
Agreement"), by and among THERAPEUTICSMD, INC., a Nevada corporation ("Company" or "Borrower"),
certain Subsidiaries of Borrower, as Guarantors, the Lenders from time to time party thereto, and TPG SPECIALTY LENDING, INC.,
a Delaware corporation ("TSL"), as administrative agent for the Lenders (in such capacity, together with its
successors and assigns in such capacity, the "Administrative Agent").

WHEREAS,
the Loan Parties have requested that the Administrative Agent and the Lenders amend certain terms and conditions of the Financing
Agreement; and

WHEREAS,
the Administrative Agent and the Lenders are willing to amend such terms and conditions of the Financing Agreement on the terms
and conditions set forth herein.

 

NOW
THEREFORE, in consideration of the premises and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereto hereby agree as follows:

1.

Definitions.
All terms used herein that are defined in the Financing Agreement and not otherwise defined herein shall have the meanings assigned
to them in the Financing Agreement.

2.

Amendments.

(a)

New Definitions. Section 1.01 of the Financing Agreement is hereby amended by
adding the following definitions, in appropriate alphabetical order:

(i)

""Amendment
No. 1" means Amendment No. 1 to Financing Agreement, dated as of December 27, 2019, by and among the Loan Parties, the
Administrative Agent and the Lenders."

(ii)

""Amendment
No. 1 Effective Date" means the "Amendment Effective Date" as set forth in Amendment No. 1."

(iii)

""DD
A-1 Request Date" has the meaning set forth in Section 3.2(a)(v)."

(b)

Existing Definitions. The following definitions in Section 1.01 of the Financing
Agreement are hereby amended as follows:

(i)

Delayed
Draw Commitment Termination Date is hereby amended and restated in its entirety to read as follows:

    	 	 	 

    	 

    

"Delayed
Draw Term Loan Commitment Termination Date" means the earliest to occur of (a) the date the Term Loan Commitments are
permanently reduced to zero in accordance with and pursuant to Section 2.12(b) or 2.13, (b) the date of the termination
of the Term Loan Commitments in accordance with and pursuant to Section 8.1, (c) solely in the case of the Delayed Draw
A-1 Term Loan Commitment, September 22, 2020 (or such later date as may be consented to by the Required Lenders in their sole
discretion) and (d) solely in the case of the Delayed Draw A-2 Term Loan Commitment, March 31, 2020 (or such later date as may
be consented to by the Required Lenders in their sole discretion)."

(c)

Section 3.2 (Conditions to Each Credit Extension). Section 3.2(a) of the Financing
Agreement is hereby amended by amending and restating clause (v) therein in its entirety to read as follows:

"(v)

solely
in respect of any Delayed Draw A-1 Term Loan, (A) Company shall deliver a Funding Notice in respect of the Delayed Draw A-1 Term
Loan either contemporaneously with the delivery of financial statements under Section 5.1(b) in respect of the fiscal quarter
ending June 30, 2020 or at such earlier date as the Administrative Agent shall have consented to in its sole and absolute discretion
(the "DD A-1 Request Date"), (B) the Administrative Agent shall have consented to make such Loan in its sole
and absolute discretion on or before the date that is 10 Business Days after the DD A-1 Request Date, and (C) if the Administrative
Agent consents to make such Loan in accordance with preceding clause (B), such Loan is made on or before the Delayed Draw Commitment
Termination Date; and".

3.

Conditions
to Effectiveness. This Amendment shall become effective only upon satisfaction in full, in a manner satisfactory to the Administrative
Agent, of the following conditions precedent (the first date upon which all such conditions shall have been satisfied being hereinafter
referred to as the "Amendment Effective Date"):

(a)

Payment of Fees, Etc. The Borrowers shall have paid on or before the Amendment Effective
Date all fees, costs, expenses and taxes then payable, if any, pursuant to Section 2.7 or 10.2 of the Financing
Agreement.

(b)

Representations
and Warranties. The representations and warranties contained in this Amendment and in Article IV of the Financing
Agreement and in each other Loan Document shall be true and correct in all material respects (except that such materiality qualifier
shall not be applicable to any representations or warranties that already are qualified or modified as to "materiality"
or "Material Adverse Effect" in the text thereof, which representations and warranties shall be true and correct in
all respects subject to such qualification) on and as the Amendment Effective Date to the same extent as though made on and as
of that date, except to the extent such representations and warranties specifically relate to an earlier date, in which case such
representations and warranties shall have been true and correct in all material respects (except that such materiality qualifier
shall not be applicable to any representations or warranties that already are qualified or modified as to "materiality"
or "Material Adverse Effect" in the text thereof, which representations and warranties shall be true and correct in
all respects subject to such qualification) on and as of such earlier date.

    	 	-2-	 

    	 

    

(c)

No Default; Event of Default. No Default or Event of Default shall have occurred and
be continuing on the Amendment Effective Date or result from this Amendment becoming effective in accordance with its terms.

(d)

Delivery of Documents. The Administrative Agent shall have received on or before the
Amendment Effective Date this Amendment, duly executed by the Loan Parties and the Administrative Agent and the Lenders.

(e)

Material Adverse Effect. The Administrative Agent shall have determined, in its reasonable
judgment, that no event or development shall have occurred since December 31, 2018, which could reasonably be expected to have
a Material Adverse Effect.

(f)

Liens; Priority. The Administrative Agent shall be satisfied that the Administrative
Agent has been granted, and holds, for the benefit of the Administrative Agent and the Lenders, a perfected, first priority Lien
on and security interest in all of the Collateral, subject only to Permitted Liens, to the extent such Liens and security interests
are required pursuant to the Loan Documents to be granted or perfected on or before the Amendment Effective Date.

(g)

Approvals. All consents, authorizations and approvals of, and filings and registrations
with, and all other actions in respect of, any Governmental Authority or other Person required in connection with any Loan Document
or the transactions contemplated thereby or the conduct of the Loan Parties'

business
shall have been obtained or made and shall be in full force and effect. There shall exist no claim, action, suit, investigation,
litigation or proceeding (including, without limitation, shareholder or derivative litigation) pending or, to the knowledge of
any Loan Party, threatened in any court or before any arbitrator or Governmental Authority which (i) relates to the Loan
Documents or the transactions contemplated thereby or (ii) could reasonably be expected to have a Material Adverse Effect.

4.

Continued
Effectiveness of the Financing Agreement and Other Loan Documents. Each Loan Party hereby (a) acknowledges and consents to
this Amendment, (b) confirms and agrees that the Financing Agreement and each other Loan Document to which it is a party
is, and shall continue to be, in full force and effect and is hereby ratified and confirmed in all respects, except that on and
after the Amendment Effective Date, all references in any such Loan Document to "the Financing Agreement", the "Agreement",
"thereto", "thereof", "thereunder" or words of like import referring to the Financing Agreement
shall mean the Financing Agreement as amended by this Amendment, and (c) confirms and agrees that, to the extent that any
such Loan Document purports to assign or pledge to the Administrative Agent, for the benefit of the Administrative Agent and the
Lenders, or to grant to the Administrative Agent, for the benefit of the Administrative Agent and the Lenders, a security interest
in or Lien on any Collateral as security for the Obligations of the Loan Parties from time to time existing in respect of the
Financing Agreement (as amended hereby) and the other Loan Documents, such pledge, assignment and/or grant of the security interest
or Lien is hereby ratified and confirmed in all respects. This Amendment does not and shall not affect any of the obligations
of the Loan Parties, other than as expressly provided herein, including, without limitation, the Loan Parties' obligations to
repay the Loans in accordance with the terms of Financing Agreement or the obligations of the Loan Parties under any Loan Document
to which they are a party, all of which obligations shall remain in full force and effect. Except as expressly provided herein,
the execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of Administrative
Agent or any Lender under the Financing Agreement or any other Loan Document nor constitute a waiver of any provision of the Financing
Agreement or any other Loan Document.

    	 	-3-	 

    	 

    

5.

No Novation.
Nothing herein contained shall be construed as a substitution or novation of the Obligations outstanding under the Financing Agreement
or instruments securing the same, which shall remain in full force and effect, except as modified hereby.

6.

No Representations
by Administrative Agent or Lenders. Each Loan Party hereby acknowledges that it has not relied on any representation, written
or oral, express or implied, by Administrative Agent or any Lender, other than those expressly contained herein, in entering into
this Amendment.

7.

Release.
Each Loan Party hereby acknowledges and agrees that: (a) neither it nor any of its Subsidiaries has any claim or cause of action
against Administrative Agent or any Lender (or any of the directors, officers, employees, agents, attorneys or consultants of
any of the foregoing) and (b) the Administrative Agent and the Lenders have heretofore properly performed and satisfied in a timely
manner all of their obligations to the Loan Parties, and all of their Subsidiaries and Affiliates. Notwithstanding the foregoing,
the Administrative Agent and the Lenders wish (and the Loan Parties agree) to eliminate any possibility that any past conditions,
acts, omissions, events or circumstances would impair or otherwise adversely affect any of their rights, interests, security and/or
remedies. Accordingly, for and in consideration of the agreements contained in this Amendment and other good and valuable consideration,
each Loan Party (for itself and its Subsidiaries and Affiliates and the successors, assigns, heirs and representatives of each
of the foregoing) (collectively, the "Releasors") does hereby fully, finally, unconditionally and irrevocably
release, waive and forever discharge the Administrative Agent and the Lenders, together with their respective Affiliates and Related
Funds, and each of the directors, officers, employees, agents, attorneys and consultants of each of the foregoing (collectively,
the "Released Parties"), from any and all debts, claims, allegations, obligations, damages, costs, attorneys'
fees, suits, demands, liabilities, actions, proceedings and causes of action, in each case, whether known or unknown, contingent
or fixed, direct or indirect, and of whatever nature or description, and whether in law or in equity, under contract, tort, statute
or otherwise, which any Releasor has heretofore had or now or hereafter can, shall or may have against any Released Party by reason
of any act, omission or thing whatsoever done or omitted to be done, in each case, on or prior to the Amendment Effective Date
directly arising out of, connected with or related to this Amendment, the Financing Agreement or any other Loan Document, or any
act, event or transaction related or attendant thereto, or the agreements of Administrative Agent or any Lender contained therein,
or the possession, use, operation or control of any of the assets of any Loan Party, or the making of any Loans or other advances,
or the management of such Loans or other advances or the Collateral. Each
Loan Party represents and warrants that it has no knowledge of any claim by any Releasor against any Released Party or of any
facts or acts or omissions of any Released Party which on the date hereof would be the basis of a claim by any Releasor against
any Released Party which would not be released hereby.

    	 	-4-	 

    	 

    

8.

Further
Assurances. The Loan Parties shall execute any and all further documents, agreements and instruments, and take all further
actions, as may be required under applicable law or as Administrative Agent may reasonably request, in order to effect the purposes
of this Amendment.

9.

Disclosure.
Promptly (but in no event later than 4 Business Days) following the Amendment Effective Date, the Loan Parties shall disclose
the terms of this Amendment in a Form 8-K current report, which report shall be in form and substance reasonably satisfactory
to the Administrative Agent. The Loan Parties (a) agree that any press release in respect of this Amendment shall be consented
to by the Administrative Agent prior to the release thereof, and (b) acknowledge and confirm that any other or further disclosure
of this Amendment is subject to Section 10.17 of the Financing Agreement.

10.

Miscellaneous.

(a)

This Amendment may be executed in any number of counterparts and by different parties
hereto in separate counterparts, each of which shall be deemed to be an original but all of which taken together shall constitute
one and the same agreement. Delivery of an executed counterpart of this Amendment by facsimile or electronic mail shall be equally
effective as delivery of an original executed counterpart of this Amendment.

(b)

Section and paragraph headings herein are included for convenience of reference only
and shall not constitute a part of this Amendment for any other purpose.

(c)

This Amendment shall be governed by, and construed in accordance with, the laws of the
State of New York.

(d)

Each Loan Party hereby acknowledges and agrees that this Amendment constitutes a "Loan
Document" under the Financing Agreement. Accordingly, it shall be an immediate Event of Default under the Financing Agreement
if (i) any representation or warranty made by any Loan Party under or in connection with this Amendment shall have been incorrect
in any respect when made or deemed made, or (ii) any Loan Party shall fail to perform or observe any term, covenant or agreement
contained in this Amendment.

(e)

Any provision of this Amendment that 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 portions hereof or affecting the validity or enforceability of such provision in any other jurisdiction.

[Remainder
of page intentionally left blank.]

 

    	 	-5-	 

    	 

    

IN
WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed and delivered as of the date set forth on the first
page hereof.

	 	BORROWER:

         

        THERAPEUTICSMD,
        INC.

	 	 
	 	 
	 	By:	/s/
    Daniel A. Cartwright
	 	Name:	Daniel A. Cartwright
	 	Title:	Chief Financial Officer and Treasurer
	 	 

 

	 	GUARANTORS:

         

        VITAMEDMD,
        LLC

	 	 
	 	 
	 	By:	/s/
    Daniel A. Cartwright
	 	Name:	Daniel A. Cartwright
	 	Title:	Chief Financial Officer and Treasurer
	 	 

 

	 	BOCAGREENMD,
        INC.

         

        

	 	 
	 	 
	 	By:	/s/
    Daniel A. Cartwright
	 	Name:	Daniel A. Cartwright
	 	Title:	Chief Financial Officer and Treasurer
	 	 

 

	 	VITACARE
        PRESCRIPTION SERVICES, INC.

         

        

	 	 
	 	 
	 	By:	/s/
    Daniel A. Cartwright
	 	Name:	Daniel A. Cartwright
	 	Title:	Chief Financial Officer and Assistant Treasurer
	 	 

 

     

    	 

    

	 	TPG
SPECIALTY LENDING, INC., as

                                                                     Administrative Agent and Lender

        

        

	 	 
	 	 
	 	By:	/s/
    Joshua Easterly
	 	Name:	Joshua Easterly
	 	Title:	CEO

 

 

	 	TOP
IV TALENTS, LLC, as Lender

        

        

	 	 
	 	 
	 	By:	/s/
    Joshua Peck
	 	Name:	Joshua Peck
	 	Title:	Vice President

 

 

	 	TAO
TALENTS, LLC, as Lender

        

        

	 	 
	 	 
	 	By:	/s/
    Joshua Peck
	 	Name:	Joshua Peck
	 	Title:	Vice President

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