Document:

EXHIBIT 10.1

 

ASSIGNMENT AND ASSUMPTION AGREEMENT

 

This Assignment
and Assumption Agreement (this “Agreement”) is entered into as of May 5, 2016 (the “Closing
Date”) by and between NUO THERAPEUTICS, INC. (f/k/a Cytomedix, Inc.), a Delaware corporation, with its principal
office at 209A Perry Parkway, Suite 1, Gaithersburg, MD 20877 (the “Assignor”) and DEERFIELD SS, LLC
(the “Assignee”).

 

WHEREAS, the
Assignor is a debtor and debtor-in-possession in Case No. 16-10192 (MFW) pending in the United States Bankruptcy Court for the
District of Delaware (the “Bankruptcy Court”) (captioned “In re: Nuo Therapeutics, Inc.”)
under Chapter 11 of the United States Bankruptcy Code (11 U.S.C. §101, et seq.);

 

WHEREAS, on
April 25, 2016, the Bankruptcy Court entered an Order Granting Final Approval of Disclosure Statement and Confirming Assignor’s
Plan of Reorganization, which confirmed the Assignor’s Modified First Amended Plan of Reorganization under Chapter 11 of
the Bankruptcy Code (as confirmed, the “Plan”);

 

WHEREAS, pursuant
to the Plan, the Assignor agreed to assign to Assignee, as designee of Deerfield Private Design Fund II, L.P., Deerfield Private
Design International II, L.P. and Deerfield Special Situations Fund, L.P., (i) all of Assignor’s rights, title and interest
in and to its existing license agreement with Arthrex, Inc. (the “Arthrex Agreement”), (ii) all associated
intellectual property owned by Assignor and licensed thereunder, and (iii) all royalty and payment rights thereunder (collectively,
the “Assigned Assets”); and

 

WHEREAS, this
Agreement is being executed and delivered in accordance with the Plan.

 

NOW, THEREFORE, pursuant
to the Plan and in consideration of the mutual promises it contains, and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties, intending to be legally bound, agree as follows:

 

1.          Assignment.
Subject to and in accordance with the terms and conditions of the Plan, effective as of and from the Closing Date, Assignor hereby
transfers, conveys and assigns to Assignee all of its legal, beneficial and other rights, title and interest in and to the Assigned
Assets, free and clear of all Liens.

 

2.          Acceptance
and Assumption. Subject to and in accordance with the terms and conditions of the Plan, effective as of and from the
Closing Date, Assignee hereby (a) accepts the Assignment and (b) agrees to perform all of the Assignor’s obligations
under the Assigned Assets.

 

3.          Patent
Assignment. On the Closing Date Assignor and Assignee shall execute the Patent Assignment attached hereto as Exhibit A.

 

4.          Further
Assurances. From time to time on and after the date hereof, as and when reasonably requested by any party hereto, each
other party will, except as otherwise expressly provided in the Plan, execute, deliver and, if required, record, or cause to be
executed, delivered and, if required, recorded, such further instruments of conveyance, transfer and assumption and take such additional
action as such party may reasonably request to consummate the transactions contemplated by the Plan and this Agreement.

 

     

     

    

 

5.          Amendment.
Except as expressly provided herein, this Agreement may be amended only by a written agreement executed by each of the parties
hereto. The parties agree that any amendment executed in accordance with this section will be binding on the parties, unless otherwise
expressly stated in such amendment.

 

6.          Waiver.
Any term or provision of this Agreement may be waived, or the time for its performance may be extended, by a written waiver executed
by the party or parties giving the waiver. The failure of any party hereto to enforce at any time any provision of this Agreement
shall not be construed to be a waiver of such provision, nor in any way to affect the validity of this Agreement or any part hereof
or the right of any party thereafter to enforce each and every such provision. No waiver of any breach of this Agreement shall
be held to constitute a waiver of any other or subsequent breach.

 

7.          Successors
and Assigns. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective
successors and assigns.

 

8.          Governing
Law. The internal law (and not the law of conflicts) of the State of New York shall govern all questions concerning the construction,
validity and interpretation of this Agreement and the performance of the obligations imposed by this Agreement.

 

9.          Governing
Law; Jurisdiction. This Agreement shall be governed by and construed in accordance with the internal laws of the state of Delaware
(i.e., without regard to its conflicts of law rules). All disputes arising out of or related to this Agreement, including, without
limitation, any dispute relating to the interpretation, meaning or effect of any provision hereof, will be resolved in the courts
of competent jurisdiction in the state of Delaware and the parties hereto will each submit to the exclusive jurisdiction of the
such courts for the purposes of adjudicating any such dispute. Any legal action, suit or proceeding arising out of or relating
to this Agreement, each and every agreement and instrument contemplated hereby or the transactions contemplated hereby and thereby
shall be instituted in any Federal court of the state of Delaware

 

10.         Interpretation.
This Agreement is intended to implement the provisions of the Plan, is expressly subject to the terms and conditions thereof, and
shall not be construed to enhance, extend or limit the representations and warranties, rights, obligations or remedies of any party
thereunder.

 

11.         Third
Party Beneficiaries. This Agreement does not create any rights, claims or benefits inuring to any person that is not a party
hereto or establish any third-party beneficiary of any of the obligations of the parties set forth herein.

 

12.         Counterparts.
This Agreement may be executed in multiple counterparts (including by means of telecopied or electronically transmitted signature
pages), all of which taken together shall constitute one and the same Agreement.

 

13.         Descriptive
Headings. The headings to the sections of this Agreement are for convenience of reference and shall not affect the meaning
or interpretation of this Agreement.

 

[Signatures on following page]

 

    	 	2	 

     

    

 

IN WITNESS WHEREOF, the parties have caused
this Agreement to be executed and delivered as of the date first above written.

 

	 	ASSIGNOR:
	 	 
	 	NUO THERAPEUTICS, INC.
	 	 	 
	 	By: 	/s/ David
    Jorden
	 	 	Name:  David Jorden
	 	 	Title:  Acting CEO/CFO
	 	 
	 	ASSIGNEE:
	 	 
	 	DEERFIELD SS, LLC
	 	 
	 	By: Deerfield Mgmt, L.P., its Manager
	 	 
	 	By: J.E. Flynn Capital, LLC, its General Partner
	 	 
	 	By: 	/s/ David J. Clark
	 	 	Name: David J. Clark
	 	 	Title: Authorized Signatory

 

     

     

    

 

Exhibit A

Patent AssignmentEXHIBIT 10.2

 

TRANSITION SERVICES AGREEMENT

 

This Transition Services
Agreement is dated as of May 5, 2016 (this “Agreement”), by and between Deerfield SS, LLC, a Delaware limited liability
company (“Deerfield”) and Nuo Therapeutics, Inc. (“Nuo”, and collectively with Deerfield, the “Parties”,
and each individually a “Party”).

 

RECITALS:

 

WHEREAS, on January
26, 2016 (the “Petition Date”), Nuo commenced a Chapter 11 bankruptcy proceeding in the United States Bankruptcy Court
for the District of Delaware (the “Court”) in Case No. 16-10192 (MFW), in which proceeding Nuo operated as a debtor
and debtor-in-possession;

 

WHEREAS, Nuo proposed
and the Court has confirmed a Plan of Reorganization (the “Plan”) by entry of that certain Order Granting Final Approval
of Disclosure Statement and Confirming Debtor’s Plan of Reorganization, dated April 25, 2016 [Docket Entry No. 367];

 

WHEREAS, pursuant to
the Plan, Nuo’s existing Amended and Restated License Agreement dated as of October 16, 2015 (as amended by letter agreement
dated as of April 20, 2016, the “License Agreement”) between Nuo and Arthrex, Inc. (“Arthrex”) is being
assigned to Deerfield;

 

WHEREAS, the Plan provides
that concurrently with the consummation of the transactions contemplated thereby, the Parties will enter into this Agreement whereby
Nuo will provide Deerfield the Services (as defined herein) during the Transition Period (as defined herein);

 

WHEREAS, pursuant to
the License Agreement, the assumption by Arthrex of all rights related to manufacture and supply of the Product Line (as such terms
is defined in the License Agreement) was to occur no later than March 31, 2016 but is now targeted to occur on or around September
30, 2016 and Nuo’s continued manufacture and supply of the Product Line until such assumption by Arthrex is part of the consideration
to Deerfield’s assumption of the License Agreement and support of the Plan;

 

AGREEMENT:

 

NOW, THEREFORE, for
good and valuable consideration, the receipt and legal sufficiency of which is hereby acknowledged, the Parties, intending to be
legally bound, hereby agree as follows:

 

SECTION
1

DEFINITIONS

 

For the purposes of
this Agreement, the following terms will have the definitions hereinafter specified:

 

    1

     

    

 

1.1           “Action”
means any suit, charge, legal proceeding, investigation, audit, grievance, administrative enforcement proceeding or arbitration
proceeding by or before any Governmental Authority or arbitrator.

 

1.2           
“Affiliate” means with respect to any Person, any Person that directly or indirectly controls, is controlled by or
is under common control with such Person, where “control” (including, with correlative meaning, the terms “controlled
by” and “under common control with”) means the possession, directly or indirectly, of the power to direct, or
cause the direction of, the management and policies of a Person, whether through the ownership of voting securities, by contract
or otherwise.

 

1.3           “Business
Day” means any day other than a Saturday, a Sunday or any other day on which the Federal Reserve Bank of New York is closed.

 

1.4           “Force
Majeure” means any event beyond the reasonable control of a Party or its Affiliates that delays or interrupts the performance
of the obligations or covenants of such Party (or, if applicable, such Affiliate) hereunder, including (a) an intervening act of
God or public enemy, war, invasion, armed conflict, act of foreign enemy, blockade, revolution, terrorist attack, sabotage, civil
commotions, interference by civil or military authorities; (b) mechanical breakdowns (that could not have been prevented by industry
standard maintenance), obstruction, strikes or other similar events; or (c) natural disasters, riot or other public disorder, epidemic,
quarantine restriction, strike, or labor protest.

 

1.5           “Governmental
Authority” means any government or political subdivision, whether federal, state, local or foreign, or any agency of any
such government or political subdivision, or any federal, state, local or foreign court.

 

1.6           “Law”
means any law, statute, code, ordinance, regulation, Order or rule of any Governmental Authority.

 

1.7           “Order”
means any order, judgment, ruling, injunction, assessment, award, decree or writ issued, promulgated or entered by or with any
Governmental Authority.

 

1.8           “Original
License” means the Distributor Agreement and License dated August 7, 2013 between Nuo and Arthrex.

 

1.9           “Person”
means any natural person, sole proprietorship, partnership, corporation, limited liability company, joint venture, unincorporated
society or association, trust or other legal entity or Governmental Authority.

 

1.10         “Products”
has the meaning provided therefor in the License Agreement.

 

1.11         “Service”
or “Services” shall mean those services listed and described on Schedule A attached hereto to be provided pursuant
to the terms and in the manner described herein.

 

    2

     

    

 

1.12         “Transition
Period” shall mean, with respect to each Service, the period beginning on the date of this Agreement and continuing until
such time as Arthrex has fully assumed responsibility for the Service, and such period shall not exceed beyond October 15, 2016,
unless extended by mutual agreement of the Parties.

 

SECTION
2

SERVICES 

 

2.1         Transition
Services.

 

(a)          During
the Transition Period, Nuo agrees to provide to Deerfield or its Affiliate, which may be the holder of the License Agreement, all
of the Services set forth on Schedule A to this Agreement. In every case, all of the Services will be provided in accordance with
the terms, limitations and conditions set forth herein and on Schedule A.

 

(b)          Nuo
acknowledges that during the Transition Period, Deerfield will be transitioning the Services being performed by Nuo hereunder to
Arthrex or one or more vendors. During the Transition Period, Nuo agrees to provide reasonable assistance to Deerfield, Arthrex,
and any third party vendors selected by Deerfield or Arthrex to effect such transfer in a manner designed (to the extent reasonably
possible) to minimize disruptions to the business operations of Arthrex, provided that Nuo shall be reimbursed by Deerfield or
Arthrex for the reasonable out-of-pocket expenses incurred by Nuo thereof in connection with the performance of its obligations
under this Section 2.1(b), such reimbursement to be made promptly after receipt of a written request therefor accompanied by such
reasonable documentation as Deerfield or Arthrex may request in connection therewith; provided, however, Deerfield shall not be
obligated to reimburse any expense totaling more than Five Thousand Dollars ($5,000) unless Nuo obtained the prior consent of Deerfield
to incur such expenses.

 

2.2           Quality
of Services. Nuo represents and warrants that the Services provided to Deerfield by Nuo and its Affiliates hereunder will be
provided in good faith, in accordance with practices and standards historically exercised by Nuo for the provision of such Services
and in material compliance with applicable Laws and the terms of the License Agreement and Original License, if applicable. Except
as set forth in the immediately preceding sentence, Nuo makes no representations or warranties of any kind, express or implied,
with respect to the Services, including without limitation any warranties of merchantability or fitness for a particular purpose,
which are specifically disclaimed.

 

SECTION
3

PAYMENT

 

3.1          Payment
of Services.

 

(a)          In
consideration for providing the Services, Deerfield will pay to Nuo, for each full calendar month during which any Service is performed
hereunder: (i) the fee set forth for such Services on Schedule A and reimbursement for the actual cost of any Product purchased
by Nuo for Arthrex as required by the License Agreement; and (ii) all reasonable and documented out-of-pocket expenses incurred
by Nuo in providing such Services it being understood and agreed that if any Services shall be provided for less than a full calendar
month (including in respect of the calendar month in which this Agreement shall be executed), the fees payable in respect thereof
shall be prorated based on the number of days in such calendar month in which such Services were provided in relation to the total
number of days in such calendar month; provided, however, Deerfield shall not be obligated to pay any expense totaling more than
Five Thousand Dollars ($5,000) unless Nuo obtained the prior consent of Deerfield to incur such expenses.

    3

     

    

 

(b)          A
single written statement will be rendered each calendar month by Nuo to Deerfield for Services delivered during the preceding calendar
month, which statement will include the applicable Product cost, fee or fees set forth for such Services on Schedule A and all
reasonable and documented out-of-pocket expenses incurred by Nuo in providing such Services during such preceding calendar month
(the “Monthly Statement”). Monthly Statements will be substantiated by supporting written information and will itemize
in reasonable detail the basis for such Monthly Statement. Each Monthly Statement will be delivered promptly on the invoice date
and payable to Nuo in immediately available funds within ten (10) days after the receipt by Deerfield of payment by Arthrex to
Deerfield for such Product and Services, but in no event later than ninety (90) days after the invoice date of such Monthly Statement.
The Monthly Statement shall be sent to the recipient at the address for Deerfield and in the manner set forth in Section 6.2. If
any payment is not paid when due, Nuo shall send a notice of such overdue payment to Deerfield (a “Payment Notice”).
If Deerfield does not make such overdue payment within ten (10) Business Days after receiving a Payment Notice, Nuo shall
have the right to cease providing any or all of the Services it provides and terminate those Services upon delivery of ten (10)
days’ prior written notice to Deerfield; provided, however, Nuo shall not cease providing any Service or terminate this Agreement
if such lack of payment is due to a good faith dispute regarding such payment and any amounts not in dispute have been duly paid
by Deerfield.

 

SECTION
4

TERM

 

4.1           General.
Each Service will commence on the Effective Date and will continue until the end of the Transition Period. This Agreement will
commence as of the Effective Date hereof and shall remain in force until the earlier of (a) expiration of the Transition Period,
(b) termination of this Agreement by Nuo or Deerfield in accordance with Section 3.1(b), or 4.4(a), as applicable.

 

4.2           Amounts
Due.

 

In the event of a termination
or expiration of this Agreement, all outstanding amounts due from Deerfield under Sections 2.1(b) and 3.1, up through and including
the date of termination or expiration, will become due and payable to Nuo and Nuo shall send or cause to be sent a final invoice
in respect thereof, which shall thereafter be paid in accordance with the terms set forth in Section 3.1(b) hereof. The fee for
any terminated or expired Service will be prorated on the terms set forth in Section 3.1(a) hereof.

 

4.3           Survival.
The provisions in Sections 3.1, 4.2, 4.3, 5, and 6.2 through 6.14 hereof shall survive the expiration or other termination of this
Agreement.

 

    4

     

    

 

4.4          Termination
of Agreement or Services.

 

(a)          At
any time on written notice to the other Party, Nuo or Deerfield, as applicable, shall have the right to terminate this Agreement
or all or any of the Services: (i) if the other Party commits a material breach of any of the terms or conditions of this Agreement
(other than non-payment by the other Party of any invoice in respect of a Service, which shall be governed by Section 3.1(b)) and,
if such breach may be cured, the other Party fails to remedy the breach within thirty (30) days of receiving such notice; or (ii)
pursuant to Section 5.3.

 

(b)          Deerfield
may terminate the use of all or any of the Services upon at least thirty (30) days’ prior notice thereof in accordance with
Section 6.2. Notwithstanding anything contained in this Agreement to the contrary, if Nuo, prior to the end of the Transition Period
for such Service, breaches its obligation to provide such Service, Nuo shall be liable to Deerfield for any costs incurred by Deerfield
for such Services obtained from any third party provided that Deerfield shall be required to deliver to Nuo reasonable evidence
of the amount of costs so incurred by Deerfield.

 

SECTION
5

LIABILITIES; INDEMNIFICATION

 

5.1          [RESERVED]

 

5.2          [RESERVED]

 

5.3          Performance
Remedy; Specific Performance.

 

(a)          In
the event that Nuo fails to provide a Service hereunder, or the quality of a Service is not in accordance with Section 2.2 (a “Failure”),
Deerfield may give Nuo prompt written notice thereof. Following receipt of any such notice, Nuo will use commercially reasonable
efforts to promptly remedy any such Failure. If, within fifteen (15) days following the delivery of such written notice, Nuo has
not provided such Service or improved the quality thereof to be in compliance with the terms set forth in this Agreement, and if
as a result of any such Failure, it becomes reasonably necessary for Deerfield to obtain any applicable Service from another provider,
then Deerfield may terminate the applicable Service and Nuo shall be required to pay to Deerfield the amount of any reasonable
cost (in excess of the cost of the Service to be provided by Nuo hereunder) that is actually paid by Deerfield to a third party
service provider, provided that Deerfield shall be required to deliver to Nuo reasonable evidence of the amount of costs so incurred
by Deerfield.

 

(b)          
The Parties agree that irreparable damage would occur in the event that any of the provisions of this Agreement were not performed
in accordance with their specific terms or were otherwise breached. Subject to Section 6.5, the Parties agree
that, without the necessity of posting bond or other undertaking, the parties shall be entitled to seek an injunction or injunctions
to prevent breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement in accordance with
this Agreement, this being in addition to any other remedy to which such party is entitled at law or in equity.

 

    5

     

    

 

5.4          Indemnification.

 

(a)          Nuo
will indemnify and hold harmless each of Deerfield and its Affiliates for any Actions, assessments, losses, damages, deficiencies,
costs, expenses, liabilities, judgments, awards, fines, interest, sanctions, penalties and charges (including any amounts paid
in settlement in accordance with this Agreement), including reasonable costs, fees and expenses of attorneys, accountants, consultants,
experts and other third party representatives required to investigate, mitigate or avoid the same, arising from a claim by a third
party (“Losses”) that are incurred by Deerfield or its Affiliates, as the case may be, if and to the extent that any
such Loss arises out of or relates to (i) any material breach of this Agreement by Nuo or any of its Affiliates providing Services
hereunder or (ii) the gross negligence, bad faith or fraud of Nuo or any of its Affiliates providing services hereunder in connection
with the performance of the Services hereunder.

 

SECTION
6

GENERAL PROVISIONS

 

6.1          Access.

 

During the Transition
Period, Deerfield will have reasonable access upon prior written notice to information or records kept by Nuo for the purposes
of the delivery of Services under this Agreement.

 

6.2           Notices.
Any notice or other communication provided for herein or given hereunder to a party hereto must be in writing, and (a) sent by
facsimile transmission, (b) sent by electronic mail, (c) delivered in person, (d) mailed by first class registered or certified
mail, postage prepaid, or (e) sent by Federal Express or other overnight courier of national reputation, addressed as follows:

 

To Nuo:

 

207A Perry Parkway, Suite 1

Gaithersburg, MD 20877

Attention: CEO

Fax: 240-499-2690

Email: djorden@nuot.com

 

If to Deerfield to:

 

			Deerfield SS, LLC

			c/o Deerfield Management Company, LP

			789 Third Avenue, 37th Floor

New York, New York 10017

Attention: David J. Clark

Fax: (646) 536-5662

Email: dclark@deerfield.com

 

    6

     

    

 

6.3           Relationship
between Parties. Nothing contained in this Agreement shall be construed as creating a partnership, joint venture, agency, trust
or other association of any kind, each Party being individually responsible only for its obligations as set forth in this Agreement.
Nuo shall provide the Services hereunder in the capacity of an independent contractor and not as an employee or agent of Deerfield.

 

6.4           Assignment;
Binding Effect. This Agreement and the rights hereunder and all the provisions hereof shall be binding upon and shall inure
to the benefit of the Parties and their respective successors and permitted assigns. The Parties acknowledge and agree that a Party
may assign its rights and delegate its duties under this Agreement to one or more of its Affiliates that normally performs the
contemplated Services; provided, however, that the assigning Party will remain fully responsible for compliance with the terms
of this Agreement the same as if such delegation or designation were not effected.

 

6.5           Governing
Law; Jurisdiction. All issues and questions concerning the construction, validity, interpretation and enforceability of this
Agreement and the Schedules hereto, and all claims and disputes arising hereunder or thereunder or in connection herewith or therewith,
whether purporting to be sound in contract or tort, or at law or in equity, shall be governed by, and construed in accordance with,
the Laws of the State of Delaware, without giving effect to any choice of Law or conflict of Law rules or provisions (whether of
the State of Delaware or any other jurisdiction) that would cause the application of the Laws of any jurisdiction other than the
State of Delaware. The Parties hereto hereby agree and consent to be subject to the exclusive jurisdiction of the federal and state
courts in Wilmington, Delaware, and hereby waive the right to assert the lack of personal or subject matter jurisdiction or improper
venue in connection with any such suit, action or other proceeding. In furtherance of the foregoing, each of the Parties hereto
(a) waives the defense of inconvenient forum, (b) agrees not to commence any suit, action or other proceeding arising
out of this Agreement or any transactions contemplated hereby other than in any such court, and (c) agrees that a final judgment
in any such suit, action or other proceeding shall be conclusive and may be enforced in other jurisdictions by suit or judgment
or in any other manner provided by Law. EACH PARTY HERETO HEREBY KNOWINGLY, INTENTIONALLY AND VOLUNTARILY AND WITH AND UPON THE
ADVICE OF COMPETENT COUNSEL IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY LITIGATION, ACTION, PROCEEDING, CROSS-CLAIM, OR
COUNTERCLAIM IN ANY COURT (WHETHER BASED ON CONTRACT, TORT, OR OTHERWISE) ARISING OUT OF, RELATING TO OR IN CONNECTION WITH (i)
THIS AGREEMENT OR THE VALIDITY, PERFORMANCE, INTERPRETATION, COLLECTION OR ENFORCEMENT HEREOF OR (ii) THE ACTIONS OF SUCH PARTY
IN THE NEGOTIATION, AUTHORIZATION, EXECUTION, DELIVERY, ADMINISTRATION, PERFORMANCE OR ENFORCEMENT HEREOF.

 

6.6           Counterparts;
Electronic Transmission. This Agreement may be executed in two or more counterparts (any of which may be delivered by facsimile
or email transmission followed promptly by an executed original), each of which will be deemed an original, but all of which together
will constitute one and the same instrument.

 

6.7           Captions.
The captions contained in this Agreement are for convenience of reference only and do not form a part of this Agreement.

 

    7

     

    

 

6.8           Complete
Agreement. This Agreement and the Schedules attached hereto constitute the entire agreement between the Parties with respect
to the subject matter hereof and supersede all prior agreements and understandings between the Parties with respect to such subject
matter.

 

6.9          Interpretation.

 

(a)          When
a reference is made in this Agreement to a Section or Schedule, such reference shall be to a Section or Schedule of or to this
Agreement unless otherwise indicated.

 

(b)          Whenever
the words “include,” “includes” or “including” are used in this Agreement, they shall be deemed
to be followed by the words “without limitation.”

 

(c)          Unless
the context requires otherwise, the terms “hereof,” “herein,” “hereby,” “hereto”
and derivative or similar words in this Agreement refer to this entire Agreement.

 

(d)          Unless
the context requires otherwise, words in this Agreement using the singular or plural number also include the plural or singular
number, respectively, and the use of any gender herein shall be deemed to include the other genders.

 

(e)          References
in this Agreement to “dollars” or “$” are to U.S. dollars.

 

(f)          This
Agreement was prepared jointly by the Parties and no rule that it be construed against the drafter will have any application in
its construction or interpretation.

 

6.10         Waiver
and Amendment. This Agreement may be amended or modified only by an instrument in writing duly executed by each Party. Except
as otherwise provided in this Agreement, any failure of any Party to comply with any obligation, covenant, agreement or condition
herein may be waived by the Party entitled to the benefits thereof only by a written instrument signed by the Party granting such
waiver, but such waiver or failure to insist upon strict compliance with such obligations, covenant, agreement or condition shall
not operate as a waiver of, or estoppel with respect to, any subsequent or other failure.

 

6.11         Third
Party Beneficiaries. Each Party intends that this Agreement does not benefit or create any right or cause of action in or on
behalf of any Person other than the Parties hereto, and no such right shall be created.

 

6.12         Force
Majeure. If a Party or any of its Affiliates or any other Person (including any vendor or supplier to such Party or any Affiliate
thereof) is affected by an event of Force Majeure such that such Party or any Affiliate thereof is unable to fulfill all or part
of its obligations under this Agreement (including providing such Party’s Services), such Party must give written notice
thereof to the other Party, and thereafter and so long as such Force Majeure circumstances shall remain in effect, the affected
Party and its Affiliates will be relieved of their obligations hereunder and shall not be in default or breach hereunder as a result
thereof.

 

    8

     

    

 

6.13         Severability.
Any term of provision of this Agreement that is invalid or unenforceable in any jurisdiction will, as to that jurisdiction, be
ineffective to the extent of such invalidity or unenforceability without rending invalid or unenforceable the remaining terms and
provisions of this Agreement or affecting the validity or enforceability of any of the terms or provisions of this Agreement in
any other jurisdiction. If any provision of this Agreement is so broad as to be unenforceable, the provision will be interpreted
to be only so broad as is enforceable.

  

[The remainder of this page is intentionally
left blank]

 

    9

     

    

 

IN WITNESS WHEREOF, the Parties have executed
this Agreement as of the date first set forth above.

 

	 	NUO THERAPEUTICS, INC.
	 	 	 
	 	By:	/s/ David Jorden
	 	 	Name:  David Jorden
	 	 	Title:  Acting CEO/CFO
	 	 	 
	 	DEERFIELD SS, LLC
	 	 
	 	By: Deerfield Mgmt, L.P., its Manager
	 	 
	 	By: J.E. Flynn Capital, LLC, its General Partner
	 	 	 
	 	By:	/s/ David J. Clark
	 	 	Name: David J. Clark
	 	 	Title: Authorized Signatory

 

[Signature Page to the Transition Services
Agreement]

 

     

     

    

 

SCHEDULE A

 

	Services	 	COST
	 	 	 
	
        During the Transition Period, Nuo will
        continue to provide for the manufacture and supply to Arthrex of the Products in accordance with the terms of License Agreement
        and Original License, as applicable, and provide its full cooperation, as commercially reasonable, to assist Arthrex with the manufacture
        and supply of the Products, notwithstanding any argument that Nuo could assert that it is not obligated to perform under the terms
        of License Agreement following March 31, 2016.

         

        Nuo will provide consultation, as commercially
        reasonable to Arthrex concerning technical aspects, regulatory clearances and approvals and use of the Products from time to time
        as reasonably requested by Arthrex.

         

        Nuo will, so far as it is reasonably able,
        provide Arthrex all scientific and technical information available to Nuo and required in connection with the licenses granted
        under the License Agreement, or to respond to inquiries from customers or governmental or regulatory authorities.

         

        Nuo will provide the services required
        by Section 5(a) and 5(c) the License Agreement and such other services, as reasonably necessary to fulfill the obligations to Nuo
        under the License Agreement and Original License, as applicable, including but not limited to transition of the manufacture and
        supply of Product to Arthrex, as Deerfield or Arthrex may reasonably request.
	 	USD 10,000 per month
	 	 	 
	Nuo will permit Arthrex and its contractors, subcontractors and other agents to duplicate, translate, decompile, reverse engineer and adapt any Products or component parts thereof.	 	None
	 	 	 
	Nuo will complete the “cable refit” on any defective Products identified in Schedule B exhibiting a “white screen” failure or potential for “white screen” failure.	 	None
	 	 	 
	Nuo will be responsible for all Products that it has manufactured and supplied to Arthrex, or shall supply to Arthrex in accordance with Section 2(b) of the License Agreement.  	 	 
	 	 	 
	Nuo will provide Deerfield with all information, materials, and documents comprising the Intellectual Property Rights (as defined in the License Agreement) and reasonable access to Nuo employees or agents necessary to facilitate Deerfield’s or Arthrex’s utilization of the Intellectual Property Rights as contemplated under the License Agreement.	 	 

 

     

     

    

 

SCHEDULE B

 

	SERIAL 

NUMBER
	GB	928
	GB	929
	GB	930
	GB	931
	GB	932
	GB	933
	GB	934
	GB	935
	GB	936
	GB	937
	GB	938
	GB	939
	GB	940
	GB	941
	GB	942
	GB	943
	GB	944
	GB	945
	GB	946
	GB	947
	GB	948
	GB	950
	GB	951
	GB	952
	GB	953
	GB	954
	GB	955
	GB	956
	GB	958
	GB	959
	GB	961
	GB	962
	GB	963
	GB	964
	GB	965
	GB	966
	GB	967

 

     

     

    

 

	GB	968
	GB	969
	GB	970
	GB	971
	GB	972
	GB	973
	GB	974
	GB	976
	GB	977
	GB	978
	GB	979
	GB	981
	GB	985
	GB	987
	GB	992
	GB	993
	GB	998
	GB	1003
	GB	1004
	GB	1006
	GB	1011
	GB	1012
	GB	1015
	GB	1018
	GB	1021
	GB	1023
	GB	1024
	GB	1026
	GB	1027
	GB	1031
	GB	1032
	GB	1033
	GB	1034
	GB	1038
	GB	1040
	GB	1041
	GB	1043
	GB	1045
	GB	1047
	GB	1048

 

     

     

    

 

	GB	1049
	GB	1050
	GB	1051
	GB	1053
	GB	1057
	GB	1059
	GB	1064
	GB	1066
	GB	1069
	GB	1070
	GB	1071
	GB	1072
	GB	1074
	GB	1075
	GB	1076
	GB	1077
	GB	1079
	GB	1080
	GB	1082
	GB	1083
	GB	1084
	GB	1085
	GB	1086
	GB	1088
	GB	1089
	GB	1090
	GB	1091
	GB	1092
	GB	1093
	GB	1094
	GB	1096
	GB	1097
	GB	1098
	GB	1099
	GB	1100
	GB	1102
	GB	1104
	GB	1105
	GB	1107
	GB	1108

 

     

     

    

 

	GB	1109
	GB	1110
	GB	1111
	GB	1112
	GB	1114
	GB	1115
	GB	1116
	GB	1119
	GB	1121
	GB	1123
	GB	1128
	GB	1129
	GB	1132
	GB	1134
	GB	1135
	GB	1136
	GB	1137
	GB	1138
	GB	1143
	GB	1146
	GB	1148
	GB	1150
	GB	1151
	GB	1153
	GB	1154
	GB	1155
	GB	1156
	GB	1157
	GB	1158
	GB	1160
	GB	1161
	GB	1162
	GB	1163
	GB	1166
	GB	1167
	GB	1168
	GB	1169
	GB	1170
	GB	1171
	GB	1174

 

     

     

    

 

	GB	1175
	GB	1176
	GB	1177
	GB	1179
	GB	1180
	GB	1183
	GB	1184
	GB	1188
	GB	1191
	GB	1192
	GB	1193
	GB	1194
	GB	1195
	GB	1196
	GB	1197
	GB	1200
	GB	1201
	GB	1202
	GB	1203
	GB	1205
	GB	1206
	GB	1207
	GB	1208
	GB	1209
	GB	1210
	GB	1212
	GB	1213
	GB	1214
	GB	1216
	GB	1217
	GB	1218
	GB	1219
	GB	1220
	GB	1222
	GB	1223
	GB	1224
	GB	1225
	GB	1226
	GB	1227
	GB	1228

 

     

     

    

 

	GB	1230
	GB	1231
	GB	1232
	GB	1234
	GB	1235
	GB	1236
	GB	1238
	GB	1239
	GB	1240
	GB	1241
	GB	1242
	GB	1243
	GB	1244
	GB	1245
	GB	1246
	GB	1247
	GB	1248
	GB	1249
	GB	1251
	GB	1252
	GB	1253
	GB	1254
	GB	1255
	GB	1256
	GB	1257
	GB	1258
	GB	1259
	GB	1260
	GB	1261
	GB	1265
	GB	1268
	GB	1269
	GB	1270
	GB	1271
	GB	1272
	GB	1274
	GB	1275
	GB	1276
	GB	1277
	GB	1278

 

     

     

    

 

	GB	1279
	GB	1280
	GB	1282
	GB	1283
	GB	1284
	GB	1286
	GB	1287
	GB	1288
	GB	1289
	GB	1290
	GB	1292
	GB	1293
	GB	1294
	GB	1296
	GB	1297
	GB	1298
	GB	1299
	GB	1300
	GB	1301
	GB	1302
	GB	1303
	GB	1304
	GB	1305
	GB	1306
	GB	1307
	GB	1308
	GB	1309
	GB	1311
	GB	1313
	GB	1314
	GB	1315
	GB	1316
	GB	1317
	GB	1319
	GB	1320
	GB	1321
	GB	1322
	GB	1324
	GB	1325
	GB	1326

 

     

     

    

 

	GB	1327
	GB	1328
	GB	1329
	GB	1330
	GB	1332
	GB	1333
	GB	1334
	GB	1335
	GB	1337
	GB	1338
	GB	1339
	GB	1340
	GB	1341
	GB	1343

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00258-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00258-of-00352.parquet"}]]