Document:

Exhibit 10.1

 

Execution Version 

 

CONTRIBUTION AND SATISFACTION OF INDEBTEDNESS
AGREEMENT

 

This CONTRIBUTION AND SATISFACTION
OF INDEBTEDNESS AGREEMENT (this “Agreement”), entered into as of September 12, 2022 (the “Agreement Date”),
is by and among SORRENTO THERAPEUTICS, INC., a Delaware corporation (the “Sorrento”), SCILEX HOLDING COMPANY,
a direct wholly owned subsidiary of Sorrento (“Scilex”), and SCILEX PHARMACEUTICALS, INC., an indirect wholly
owned subsidiary of Sorrento and direct wholly owned subsidiary of Scilex (“Scilex Pharma”).

 

RECITALS

 

WHEREAS,
Scilex and Scilex Pharma owe to Sorrento the amounts set forth on Schedule 1 hereto, including accrued interest thereon, if any,
as of the date hereof (and as such schedule and amounts may be updated pursuant to the terms hereof, the “Aggregate Outstanding
Amount” or “Outstanding Indebtedness”), for certain loans and other amounts provided by Sorrento to Scilex
and Scilex Pharma; and

 

WHEREAS,
Scilex and Sorrento desire that (i) Sorrento shall contribute the Outstanding Indebtedness to Scilex in exchange for the issuance by Scilex
to Sorrento of preferred stock of Scilex, (ii) Scilex shall contribute to Scilex Pharma the portion of such Outstanding Indebtedness that
is owed by Scilex Pharma to Sorrento as a capital contribution, and (iii) upon the occurrence of the events described in clauses (i) and
(ii), the Aggregate Outstanding Amount and the Outstanding Indebtedness shall be satisfied in full.

 

AGREEMENT

 

NOW,
THEREFORE, the parties to this Agreement, for good and valuable consideration, the receipt and sufficiency of which are acknowledged
and agreed, hereby agree as follows:

 

1.       Contribution
of Outstanding Indebtedness.

 

(a)       Not
less than three business days prior to the closing of the transactions contemplated by that certain Agreement and Plan of Merger, dated
as of March 17, 2022, by and among Vickers Vantage Corp. I, a Cayman Islands exempted company (which shall migrate to and domesticate
as a Delaware corporation prior to the closing thereunder, “Vickers”), Vantage Merger Sub Inc., a Delaware corporation
and wholly owned subsidiary of Vickers (the “Merger Sub”), and Scilex, as amended on September 12, 2022 (as so amended,
and as may be further amended, restated, modified or supplemented from time to time in accordance with its terms, the “Merger
Agreement”), Sorrento shall deliver to Scilex an updated Schedule 1 which shall reflect all loans and other amounts payable
by Scilex and Scilex Pharma (including all accrued and unpaid interest, as and if applicable) to Sorrento as of and including the date
that is immediately prior to the Closing Date (as defined in the Merger Agreement) and references in this Agreement to the “Aggregate
Outstanding Amount” or “Outstanding Indebtedness” shall mean the Aggregate Outstanding Amount and the Outstanding Indebtedness
as so updated; provided, however, that in no event shall the Aggregate Outstanding Amount exceed $310,000,000.

 

(b)       Prior
to the Contribution (as defined below), Scilex will file, with the Secretary of State of the State of Delaware, (i) a Certificate of
Amendment to its Amended and Restated Certificate of Incorporation, in substantially the form attached hereto as Exhibit A,
to increase the authorized number of shares of preferred stock of Scilex from 20,000,000 to 45,000,000 and (ii) a certificate of
designations, in substantially the form attached hereto as Exhibit B, to set forth the designations, powers, rights and
preferences and qualifications, limitations and restrictions of the Series A Preferred Stock, par value $0.0001 per share, of the
Company (the “Scilex Certificate of Designations” and such stock as designated therein, the “Series A
Preferred Stock”).

 

     

     

    

 

(c)       Effective
as of immediately prior to, and contingent upon, the closing of the transactions contemplated by the Merger Agreement, Sorrento hereby
elects to contribute the Outstanding Indebtedness on Schedule 1 (as amended in accordance with Section 1(a) hereof) to Scilex
in exchange for the issuance by Scilex to Sorrento of (i) that number of shares of Series A Preferred Stock (subject to adjustment for
recapitalizations, stock splits, stock dividends and similar transactions) (the “Shares” and such transaction, the
“Contribution”) as is equal to (i) the sum of the Aggregate Outstanding Amount on Schedule 1 (as amended in
accordance with Section 1(a) hereof) plus the amount that is equal to 10% of such Aggregate Outstanding Amount divided
by (ii) $11.00 (rounded up to the nearest whole share). The Contribution shall be effective as of immediately prior to, and contingent
upon, the closing of the transactions contemplated by the Merger Agreement. Each party agrees to execute any and all additional documents
the other parties may reasonably require to effect the Contribution (the “Transaction Documents”). Scilex shall issue
the Shares to Sorrento in book-entry form on the books and records of Scilex immediately upon the Contribution (the “Closing”)
and no certificate shall be issued therefor.

 

(d)       Sorrento
acknowledges and agrees that in connection with the transactions contemplated by the Merger Agreement, at the Effective Time (as defined
in the Merger Agreement), each Share shall be cancelled and converted into the right to receive (i) one Domesticated Parent Preferred
Share (as defined in the Merger Agreement) in accordance with the terms of the Merger Agreement (the “New Scilex Preferred Stock”)
which shall have the designations, powers, rights and preferences and qualifications, limitations and restrictions as set forth in the
Certificate of Designations of Scilex Holding Company (the “New Scilex Certificate of Designations”), in substantially
the form attached hereto as Exhibit C, and (ii) one-tenth of one Domesticated Parent Common Share.

 

2.       Cancellation
of Indebtedness, Representations. Sorrento further represents and warrants to Scilex and Scilex Pharma that Sorrento is the sole owner
of all right, title and interest in and to the Outstanding Indebtedness. Sorrento further agrees that (a) upon and as a result of the
Contribution and the issuance of the Shares to Sorrento, the Outstanding Indebtedness of Scilex and Scilex Pharma owed to Sorrento shall
be extinguished in its entirety and shall be of no further force or effect and shall be deemed satisfied in full and (b) Schedule 1
(as amended in accordance with Section 1(a) hereof) accurately and completely sets forth the principal amount and the accrual of
any interest, if any, thereto of the Outstanding Indebtedness, and that there exists no other indebtedness or amounts owed by Scilex or
Scilex Pharma to Sorrento or its affiliates as of immediately prior to the closing of the transactions contemplated by the Merger Agreement.

 

3.       Waiver
of Claims. Other than Sorrento’s right to receive the Shares pursuant to the Contribution, Sorrento hereby waives on its behalf
and on behalf of its affiliates any and all demands, claims, suits, actions, causes of action, proceedings, assessments and rights in
respect to the Outstanding Indebtedness, including, without limitation, (a) any principal or interest payments due as of immediately prior
to the closing of the transactions contemplated by the Merger Agreement in excess of the amounts to be contributed in the Contribution
and (b) any rights arising from any past or present default under the Outstanding Indebtedness. Sorrento, its affiliates and assigns,
shall be solely responsible for all tax payment obligations incurred by Sorrento, its affiliates and assigns by reason of payment for
or transfer, exchange or delivery of the applicable Outstanding Indebtedness or the issuance of the Shares pursuant to the Contribution
and agree to indemnify and hold harmless Scilex and Scilex Pharma and their respective directors, officers, employees or agents and any
person acting on behalf or at the request of Scilex and/or Scilex Pharma, together with any successors or assigns of the foregoing, from
and against any and all such taxes, as well as any penalties and interest arising therefrom.

 

     

     

    

 

4.       Further
Actions. Sorrento agrees to promptly take, at Sorrento’s sole cost and expense, any further action and to execute any and all
additional documents or instruments, in each case as reasonably requested by Scilex and Scilex Pharma, to terminate any liens or security
interests that have arisen in connection with the Outstanding Indebtedness, if any. Sorrento agrees to deliver any of the original evidence
of the Outstanding Indebtedness to Scilex (if such original evidence exists and is in Sorrento’s possession) for cancellation on
or before the Contribution.

 

5.       Capital
Contribution to Scilex Pharma; Termination of Side Letter.

 

(a)       Scilex
and Scilex Pharma acknowledge and agree that the portion of the Outstanding Indebtedness set forth on Schedule 1 (as amended in
accordance with Section 1(a) hereof) that is owed by Scilex Pharma to Sorrento shall, immediately following the Contribution, be
further contributed by Scilex to Scilex Pharma as a contribution of capital for no consideration.

 

(b)       Each
of Sorrento and Scilex acknowledge and agree that upon completion of the Contribution, that certain letter agreement dated as of March
17, 2022, between Sorrento and Scilex shall be automatically terminated and shall be of no further force and effect.

 

6.       Expenses.
Except as provided in the first sentence of Section 4 of this Agreement, each party shall pay all costs and expenses that it incurs
with respect to the negotiation, execution, delivery and performance of this Agreement.

 

7.       Representations
and Warranties of Scilex and Scilex Pharma. Each of Scilex and Scilex Pharma represents and warrants to Sorrento as of the date of
this Agreement as set forth below:

 

(a)       Organization,
Good Standing and Qualification. Such party is a corporation duly organized, validly existing and in good standing under the laws
of the State of Delaware. Such party is duly qualified to do business and is in good standing as a foreign corporation in all jurisdictions
in which the nature of its activities and of its properties (both owned and leased) makes such qualification necessary, except for those
jurisdictions in which failure to do so would not have a material adverse effect on such party or its business.

 

(b)       Authorization;
Binding Obligations. Such party has all requisite legal and corporate power and authority to execute and deliver this Agreement and
to carry out its provisions. All corporate action on the part of such party, its officers, directors and stockholders necessary for the
authorization of this Agreement, the performance of all obligations of the such party hereunder at the Closing and the authorization,
sale, issuance and delivery of the Shares pursuant hereto pursuant to Scilex’s Certificate of Incorporation (as shall be amended
as set forth in Section 1(b)) has been taken or shall have been taken prior to such sale, issuance and delivery of the Shares.
This Agreement, when executed and delivered, will be a valid and binding obligation of such party enforceable in accordance with its terms,
except (a) as limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws of general application affecting
enforcement of such party’s rights and (b) general principles of equity that restrict the availability of equitable remedies.

 

(c)       Offering
Valid. Assuming the accuracy of the representations and warranties of Sorrento contained in Section 8 hereof, the
offer, sale and issuance of the Shares will be exempt from the registration requirements of the Securities Act of 1933, as amended
(the “Securities Act”), and will have been registered or qualified (or are exempt from registration and
qualification) under the registration, permit or qualification requirements of all applicable state securities laws. None of Scilex,
Scilex Pharma or any agent on its or their behalf has solicited or will solicit any offers to sell or has offered to sell or will
offer to sell all or any part of the Shares to any person or persons so as to bring the sale of such Shares by Scilex within the
registration provisions of the Securities Act or any state securities laws.

 

     

     

    

 

(d)       Shares.
The Shares, when issued in compliance with the provisions of this Agreement, will be validly issued, fully paid and nonassessable, and
will have the rights, preferences, privileges and restrictions described in the Scilex Certificate of Designation.

 

8.       Representations
and Warranties of Sorrento. Sorrento represents and warrants to Scilex and Scilex Pharma as of the date of this Agreement as set forth
below:

 

(a)       Requisite
Power and Authority. Sorrento has all requisite legal and corporate power and authority to execute and deliver this Agreement and
to carry out its provisions. All corporate action on Sorrento’s part required for the authorization and delivery of this Agreement
has been taken. This Agreement, when executed and delivered, will be a valid and binding obligation of Sorrento, enforceable in accordance
with its terms, except (a) as limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws of general application
affecting enforcement of Sorrento’s rights and (b) as limited by general principles of equity that restrict the availability
of equitable remedies.

 

(b)       Investment
Representations. Sorrento understands that the Shares have not been and will not be registered under the Securities Act. Sorrento
also understands that the Shares are being offered and sold pursuant to an exemption from registration contained in the Securities Act
based in part upon Sorrento’s representations contained in the Agreement.

 

(i)       Sorrento
Bears Economic Risk. Sorrento has substantial experience in evaluating and investing in private placement transactions of securities
in companies similar to Scilex so that it is capable of evaluating the merits and risks of its investment in Scilex and has the capacity
to protect its own interests. Sorrento must bear the economic risk of this investment indefinitely unless the Shares are registered pursuant
to the Securities Act, or an exemption from registration is available. Sorrento understands that Scilex has no present intention of registering
the Shares or any shares of its capital stock. Sorrento also understands that there is no assurance that any exemption from registration
under the Securities Act will be available and that, even if available, such exemption may not allow Sorrento to transfer all or any portion
of the Shares under the circumstances, in the amounts or at the times Sorrento might propose.

 

(ii)       Acquisition
for Own Account. Sorrento is acquiring the Shares for Sorrento’s own account for investment only, and not with a view towards
their distribution.

 

(iii)       Accredited
Investor. Sorrento is an accredited investor within the meaning of Regulation D under the Securities Act.

 

(iv)       Rule
144. Sorrento acknowledges and agrees that the Shares are “restricted securities” as defined in Rule 144 promulgated under
the Securities Act as in effect from time to time and must be held indefinitely unless they are subsequently registered under the Securities
Act or an exemption from such registration is available. Sorrento has been advised or is aware of the provisions of Rule 144, which permits
limited resale of shares purchased in a private placement subject to the satisfaction of certain conditions, including, among other things:
the availability of certain current public information about Scilex, the resale occurring following the required holding period under
Rule 144 and the number of shares being sold during any three-month period not exceeding specified limitations.

 

(v)       Residence.
Sorrento resides in the state identified in the address of Sorrento set forth on its signature page hereto. 

 

     

     

    

 

9.       Entire
Agreement. This Agreement and the Transaction Documents, contains the entire agreement of the parties and supersedes any prior or
contemporaneous written or oral agreements between them concerning the subject matter of this Agreement.

 

10.       Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of California as applied to contracts
among California residents entered into and performed entirely within California.

 

11.       Counterparts;
Facsimile. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument. Facsimile signatures shall be as effective as original signatures.

 

12.       Further
Assurances. Each party hereto agrees to execute and deliver, or cause to be executed and delivered, such further instruments or documents
or take such other actions as may be reasonably necessary to consummate the transactions contemplated by this Agreement.

 

[SIGNATURE PAGES FOLLOW]

 

     

     

    

 

IN
WITNESS WHEREOF, the parties have executed this CONTRIBUTION AND SATISFACTION OF INDEBTEDNESS AGREEMENT as of the date
first written above.

 

	 	SORRENTO THERAPEUTICS, INC.
	 	 	 
	 	By:	/s/ Henry Ji, Ph.D.
	 	Name:	Henry Ji, Ph.D.
	 	Title:	Chief Executive Officer
	 	 	 
	 	Address:	4955 Directors Place
	 	 	San Diego, CA 92121

 

	 	SCILEX HOLDING COMPANY
	 	 	 
	 	By:	/s/ Jaisim Shah
	 	Name:	Jaisim Shah
	 	Title:	Chief Executive Officer
	 	 	 
	 	Address:	960 San Antonio Road
	 	 	Palo Alto, CA 94303

 

	 	SCILEX PHARMACEUTICALS, INC.
	 	 	                             
	 	By:	/s/ Jaisim Shah
	 	Name:	Jaisim Shah
	 	Title:	Chief Executive Officer
	 	 	 
	 	Address:	960 San Antonio Road
	 	 	Palo Alto, CA 94303

 

     

     

    

 

SCHEDULE 1

 

OUTSTANDING INDEBTEDNESS

 

     

     

    

 

EXHIBIT A

 

CERTIFICATE OF AMENDMENT

TO

AMENDED AND RESTATED CERTIFICATE OF INCORPORATION

 

     

     

    

 

EXHIBIT B

 

SCILEX CERTIFICATE OF DESIGNATIONS

 

     

     

    

 

EXHIBIT C

 

NEW SCILEX CERTIFICATE OF DESIGNATIONSExhibit 10.2

 

Execution Version

 

STOCKHOLDER AGREEMENT

 

THIS
STOCKHOLDER AGREEMENT (this “Agreement”), dated as of September 12 2022, is made and entered into by and among
Vickers Vantage Corp. I, a Cayman Islands exempted company (which shall migrate to and domesticate as a Delaware corporation prior to
the Closing, the “Company”), and Sorrento Therapeutics, Inc., a Delaware corporation (“Stockholder”).
Capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the Merger Agreement (as defined below).

 

RECITALS

 

WHEREAS,
the Company has entered into that certain Agreement and Plan of Merger, dated as of March 17, 2022 (as amended on September 12, 2022 and
as it may be further amended, supplemented or otherwise modified from time to time pursuant to its terms, the “Merger Agreement”),
by and among the Company, Vantage Merger Sub Inc., a Delaware corporation and wholly owned subsidiary of the Company, and Scilex Holding
Company, a Delaware corporation;

 

WHEREAS,
pursuant to and in accordance with the terms and conditions set forth in the Merger Agreement, the Company will issue Series A Preferred
Stock, par value $0.0001 per share, of the Company (“Series A Preferred Stock”), to Stockholder in connection with
the Merger (the “Preferred Consideration Shares”); and

 

WHEREAS,
in connection with the Merger Agreement and effective upon the consummation of the Merger and the other transactions contemplated thereby,
the parties hereto wish to set forth certain understandings between such parties, including with respect to certain governance and other
matters of the Company.

 

NOW,
THEREFORE, in consideration of the mutual representations, covenants and agreements contained herein, and certain other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound,
hereby agree as follows:

 

	1.	Election of Directors.

 

(a)       From
and after the Effective Time, Stockholder shall have the right, but not the obligation, to designate each director to be nominated, elected
or appointed to the Board of Directors of the Company (each, a “Stockholder Designee” and collectively, the “Stockholder
Designees”), regardless of (i) whether such Stockholder Designee is to be elected to the Board of Directors of the Company (the
“Board”) at a meeting of stockholders called for the purpose of electing directors (or by consent in lieu of meeting)
or appointed by the Board in order to fill any vacancy created by the departure of any director or increase in the authorized number of
members of the Board or (ii) the size of the Board.

 

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(b)       For
so long as Stockholder has the right under Section 1(a) to designate Stockholder Designees, the Company shall take all
Necessary Action to cause each Stockholder Designee to be so nominated, elected or appointed to the Board, including (as applicable)
(i) submitting each Stockholder Designee to the Company’s stockholders as the Company’s nominee for election at a
meeting of the Company’s stockholders, (ii) recommending that such Stockholder Designee be elected by the Company’s
stockholders and (iii) soliciting proxies or consents in favor thereof. In the event that any Stockholder Designee shall fail to be
elected or appointed to the Board pursuant to the preceding sentence, the Company shall (at the written request of Stockholder) take
all Necessary Action to cause an alternative Stockholder Designee to be elected or appointed to the Board, as soon as possible. For
so long as Stockholder has the right to designate Stockholder Designees pursuant to Section 1(a), Stockholder may, at any
time and from time to time, designate a replacement director therefor, who shall be elected or appointed in accordance with Section
1 of this Agreement and who shall be deemed a “Stockholder Designee” for purposes of this Agreement.

 

(c)       The
parties hereto acknowledge and agree that the members of the Board are subject to removal pursuant to the applicable provisions of the
Delaware General Corporation law, the Certificate of Incorporation of the Company, and the bylaws of the Company (as may be amended and/or
amended and restated from time to time in accordance with the terms thereof, the “Company Bylaws”); provided,
however, that the Company shall refrain from taking any actions to cause any Stockholder Designee to be removed without cause except
with the written consent of Stockholder.

 

(d)       Stockholder
hereby agrees to vote in favor of and to consent to the Stockholder Designees in connection with each vote taken or written consent executed
in connection with the election of directors to the Board.

 

(e)       “Necessary
Action” means, with respect to any party and a specified result, all actions (to the extent such actions are not prohibited
by applicable Law and within such party’s control, and in the case of any action that requires a vote or other action on the part
of the Board, to the extent such action is consistent with fiduciary duties that the Company’s directors may have in such capacity)
necessary to cause such result, including (i) calling special meetings of stockholders, and (ii) nominating certain persons
for election to the Board in connection with the annual or special meeting of stockholders of the Company.

 

2.       Compensation.
The Stockholder Designees shall be entitled to compensation pursuant to the Company’s director compensation policy, as such policy
may be determined from time to time by the Board or compensation committee thereof.

 

3.       Indemnification;
Exculpation. The Stockholder Designees shall be entitled to indemnification, exculpation and reimbursement of fees and expenses to
the extent provided for in the Company Certificate of Incorporation and the Company Bylaws. The Company and each Stockholder Designee
that is elected or appointed to the Board shall execute the Company’s form of indemnification agreement for its directors and officers
and the Company shall maintain directors’ and officers’ indemnity insurance coverage reasonably satisfactory to the Board
or compensation committee thereof.

 

4.       Directors
Independence. Notwithstanding anything to the contrary herein, the parties hereto shall ensure that the composition of the Board
will continue to meet all requirements of the applicable Stock Exchange, including with respect to director independence.

 

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5.       Protective
Provisions. From and after the Effective Time, the Company shall not, and shall cause its subsidiaries not to, without the prior written
consent of Stockholder:

 

(a)       take
any of the actions set forth in clauses (i) through (iv) of Section 7(b) of the certificate of designations filed by the Company in connection
with the Merger, providing for, among other things the designations, powers, rights and preferences and qualifications, limitations and
restrictions of the Series A Preferred Stock (as may be amended and/or amended and restated from time to time in accordance with the terms
thereof, the “Company Certificate of Designations”);

 

(b)       amend,
alter, modify or repeal (whether by merger, consolidation, by operation of law or otherwise) any provisions of the Company Certificate
of Incorporation (including this Company Certificate of Designations) or Company Bylaws that would increase or decrease the authorized
number of directors constituting the Board;

 

(c)       take
any action that would have the effect of increasing or decreasing the number of directors constituting the Board;

 

(d)       amend,
alter, modify or repeal (whether by merger, consolidation, reclassification, by operation of law or otherwise) any provisions of the respective
charters (and any related organizational documents) of any of the committees of the Board;

 

(e)       file
any voluntary petition under any applicable federal or state bankruptcy or insolvency law on behalf of the Company or any subsidiary of
the Company;

 

(f)       
(i) incur or permit any of its subsidiaries to incur any indebtedness in an aggregate principal amount in excess of $10,000,000 (with
“principal amount” for purposes of this definition to include undrawn committed or available amounts) or (ii) enter into,
modify, amend or renew (or permit any of its subsidiaries enter into, modify, amend or renew) any contract or other agreement in respect
of indebtedness in an aggregate principal amount in excess of $10,000,000 (with “principal amount” for purposes of this definition
to include undrawn committed or available amounts);

 

(g)       consummate
or otherwise enter into any other contract or agreement to effect any Change of Control (as defined in the Company Certificate of Designations),
joint venture or corporate reorganization by the Company or any of its subsidiaries;

 

(h)       declare
or pay any dividend or distribution on common stock of the Company (“Common Stock”), other Junior Security (as defined
in the Company Certificate of Designations) or Parity Security (as defined in the Company Certificate of Designations); or

 

    3

     

    

 

(i)       purchase,
redeem or otherwise acquire for consideration by the Company, directly or indirectly, any Common Stock, other Junior Security or
Parity Security (except as necessary to effect (i) a reclassification of any Junior Security for or into other Junior
Securities, (ii) a reclassification of any Parity Security for or into other Parity Securities with the same or lesser
aggregate liquidation preference, (iii) a reclassification of any Parity Security into a Junior Security, (iv) the
exchange or conversion of any Junior Security for or into another Junior Security, (v) the exchange or conversion of any Parity
Security for or into another Parity Security with the same or lesser per share dividend rights and liquidation amount, (vi) the
exchange or conversion of any Parity Security for or into any Junior Security) or (vii) the settlement of incentive equity awards
(including any applicable withholdings and the net exercise of options) in accordance with the terms thereof).

 

	6.	Right to Attend Committee Meetings.

 

(a)       From
and after the Effective Time, Stockholder shall have the right to appoint a representative of Stockholder (an “Observer”)
to attend all meetings of the committees of the Board. For so long as Stockholder has the right under the immediately preceding sentence
to appoint the Observer, the Company shall provide the Observer copies of all notices, agendas, minutes, consents and other materials
that the Company provides to the members of the applicable committee of the Board; provided, however, that the Company reserves
the right to exclude such Observer from access to any material or meeting or portion thereof if the Company believes upon advice of outside
counsel that such exclusion is reasonably necessary to preserve the attorney-client privilege, to protect highly confidential proprietary
information, if there is a conflict of interest between the Company and Stockholder with respect to such material or meeting or for other
similar reasons.

 

(b)       Stockholder
agrees, and shall cause any Observer to agree, to use the same degree of care as Stockholder uses to protect its own confidential information
to keep confidential any information furnished to it pursuant to this Section 6; provided, that Stockholder and any Observer
may disclose such proprietary or confidential information (i) to any partner, subsidiary or parent of Stockholder or Observer as long
as such partner, subsidiary or parent is advised of and agrees or has agreed in writing to be bound by the confidentiality provisions
of this Section 6(b) or comparable restrictions; (ii) at such time as it enters the public domain through no fault of Stockholder
or its representatives or such Observer; (iii) that is communicated to Stockholder or Observer free of any obligation of confidentiality;
(iv) that is developed by Stockholder or Observer or its agents independently of and without reference to any confidential information
communicated by or on behalf of the Company; or (v) as required by applicable law; provided that Stockholder promptly notifies
the Company of such disclosure (unless prohibited by law) and takes, if reasonably requested by the Company, reasonable steps to minimize
the extent of any such required disclosure. Notwithstanding the foregoing, Stockholder may disclose such confidential or proprietary information
to its attorneys, accountants, consultants and other professionals who are subject to a duty of confidentiality and agree to be bound
by the confidentiality provisions of this Section 6(b) or comparable restrictions, in each case only to the extent necessary to
obtain their services in connection with monitoring its investment in the Company.

 

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7.       Representations
and Warranties of the Company. The Company represents and warrants to Stockholder that (a) the Company has the corporate power
and authority to execute this Agreement, (b) this Agreement has been duly and validly authorized, executed and delivered by the
Company, constitutes a valid and binding obligation and agreement of the Company, and is enforceable against the Company in
accordance with its terms, except as enforcement thereof may be limited by applicable bankruptcy, insolvency, reorganization,
moratorium, fraudulent conveyance or similar laws generally affecting the rights of creditors and subject to general equity
principles and (c) the execution, delivery and performance of this Agreement by the Company does not and will not (i) violate or
conflict with any law, rule, regulation, order, judgment or decree applicable to the Company, or (ii) result in any breach or
violation of or constitute a default (or an event which with notice or lapse of time or both would constitute such a breach,
violation or default) under or pursuant to, or result in the loss of a material benefit under, or give any right of termination,
amendment, acceleration or cancellation of, any organizational document or agreement to which the Company is a party or by which it
is bound.

 

8.       Representations
and Warranties of Stockholder. Stockholder represents and warrants to the Company that (a) Stockholder has the corporate power and
authority to execute this Agreement, (b) this Agreement has been duly authorized, executed and delivered by Stockholder, and is a valid
and binding obligation of Stockholder, enforceable against Stockholder in accordance with its terms, except as enforcement thereof may
be limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance or similar laws generally affecting
the rights of creditors and subject to general equity principles, (c) the execution of this Agreement, the consummation of any of the
transactions contemplated hereby, and the fulfillment of the terms hereof, in each case in accordance with the terms hereof, will not
conflict with, or result in a breach or violation of the organizational documents of Stockholder as currently in effect, (d) the execution,
delivery and performance of this Agreement by Stockholder does not and will not (i) violate or conflict with any law, rule, regulation,
order, judgment or decree applicable to Stockholder, or (ii) result in any breach or violation of or constitute a default (or an event
which with notice or lapse of time or both would constitute such a breach, violation or default) under or pursuant to, or result in the
loss of a material benefit under, or give any right of termination, amendment, acceleration or cancellation of, any organizational document,
agreement, contract, commitment, understanding or arrangement to which such member is a party or by which it is bound.

 

	9.	Miscellaneous.

 

(a)       Notices.
Any notice under this Agreement shall be sent in writing, addressed as specified below, and shall be deemed given: (i) if by hand or recognized
courier service, by 4:00PM Pacific Time on a Business Day, addressee’s day and time, on the date of delivery, and otherwise on the
first business day after such delivery; (ii) if by fax or email, on the date that transmission is confirmed electronically, if by 4:00PM
Pacific Time on a Business Day, addressee’s day and time, and otherwise on the first business day after the date of such confirmation;
or (iii) five days after mailing by certified or registered mail, return receipt requested. Notices shall be addressed to the respective
parties as follows (excluding telephone numbers, which are for convenience only), or to such other address as a party shall specify to
the others in accordance with these notice provisions:

 

If to the Company (prior
to the Closing):

 

Vickers Vantage Corp. I

85 Broad Street, 16th Floor

New York, NY 10004

Attn: Jeffrey Chi, CEO

Email: jeff.chi@vickersventure.com

 

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

 

Loeb & Loeb LLP

345 Park Avenue

New York, New York 10154

Attn: Mitchell Nussbaum

Email: mnussbaum@loeb.com

 

If to the Company
(following the Closing):

 

Scilex Holding Company

960 San Antonio Road

Palo Alto, CA 94303

Email: jshah@scilexpharma.com

 

if to Stockholder:

 

Sorrento Therapeutics, Inc.

4955 Directors Place

San Diego, CA 92121

Attention: Chief Executive Officer and General Counsel

Email: hji@sorrentotherapeutics.com

 

(b)       Amendments;
No Waivers; Remedies.

 

(i)       This
Agreement cannot be amended, except by a writing signed by each of the parties hereto, and cannot be terminated orally or by course of
conduct. No provision hereof can be waived, except by a writing signed by the party against whom such waiver is to be enforced, and any
such waiver shall apply only in the particular instance in which such waiver shall have been given (unless such waiver otherwise provides).

 

(ii)        Neither
any failure or delay in exercising any right or remedy hereunder or in requiring satisfaction of any condition herein nor any course of
dealing shall constitute a waiver of or prevent any party from enforcing any right or remedy or from requiring satisfaction of any condition.
No notice to or demand on a party waives or otherwise affects any obligation of that party or impairs any right of the party giving such
notice or making such demand, including any right to take any action without notice or demand not otherwise required by this Agreement.
No exercise of any right or remedy with respect to a breach of this Agreement shall preclude exercise of any other right or remedy, as
appropriate to make the aggrieved party whole with respect to such breach, or subsequent exercise of any right or remedy with respect
to any other breach.

 

    5

     

    

 

(c)       No
Assignment or Delegation. No party may assign any right or delegate any obligation hereunder, including by merger, consolidation,
operation of law, or otherwise, without the written consent of the other party. Any purported assignment or delegation without such consent
shall be void, in addition to constituting a material breach of this Agreement.

 

(d)       Governing
Law. This Agreement shall be construed in accordance with and governed by the laws of the State of Delaware, without giving effect
to the conflict of laws principles thereof.

 

(e)       Counterparts;
Electronic Signatures. This Agreement may be executed in counterparts, each of which shall constitute an original, but all of which
shall constitute one agreement. This Agreement shall become effective upon delivery to each party of an executed counterpart or the earlier
delivery to each party of original, photocopied, or electronically transmitted signature pages that together (but need not individually)
bear the signatures of all other parties.

 

(f)       Entire
Agreement. This Agreement, together with the agreements and other documents referenced herein, sets forth the entire agreement of
the parties with respect to the subject matter hereof and thereof and supersedes all prior and contemporaneous understandings and agreements
related thereto (whether written or oral), all of which are merged herein. Except as otherwise expressly stated herein, there is no condition
precedent to the effectiveness of any provision hereof or thereof.

 

(g)       Severability.
A determination by a court or other legal authority that any provision that is not of the essence of this Agreement is legally invalid
shall not affect the validity or enforceability of any other provision hereof. The parties shall cooperate in good faith to substitute
(or cause such court or other legal authority to substitute) for any provision so held to be invalid a valid provision, as alike in substance
to such invalid provision as is lawful.

 

(h)       Third
Party Beneficiaries. Neither this Agreement nor any provision hereof confers any benefit or right upon or may be enforced by any Person
not a signatory hereto, other than Section 1, Section 2 and Section 3, with respect to which each applicable Stockholder
Designee shall be an express third party beneficiary.

 

(i)       Jurisdiction.
Any Action based upon, arising out of or related to this Agreement or the transactions contemplated hereby must be brought in the Court
of Chancery of the State of Delaware (or, to the extent such court does not have subject matter jurisdiction, the Superior Court of the
State of Delaware, or, if it has or can acquire jurisdiction, in the United States District Court for the District of Delaware), and each
of the parties irrevocably (i) submits to the exclusive jurisdiction of each such court in any such proceeding or Action, (ii) waives
any objection it may now or hereafter have to personal jurisdiction, venue or to convenience of forum, (iii) agrees that all claims
in respect of the proceeding or Action shall be heard and determined only in any such court, and (iv) agrees not to bring any proceeding
or Action arising out of or relating to this Agreement or the transactions contemplated hereby in any other court. Nothing herein contained
shall be deemed to affect the right of any party to serve process in any manner permitted by law or to commence Proceedings or otherwise
proceed against any other party in any other jurisdiction, in each case, to enforce judgments obtained in any Action brought pursuant
to this Section 9(h).

 

    6

     

    

 

(j)       Waiver
of Jury Trial; Exemplary Damages. THE PARTIES TO THIS AGREEMENT HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVE ANY RIGHT EACH
SUCH PARTY MAY HAVE TO TRIAL BY JURY IN ANY ACTION OF ANY KIND OR NATURE, IN ANY COURT IN WHICH AN ACTION MAY BE COMMENCED, ARISING OUT
OF OR IN CONNECTION WITH THIS AGREEMENT OR ANY ADDITIONAL AGREEMENT, OR BY REASON OF ANY OTHER CAUSE OR DISPUTE WHATSOEVER BETWEEN OR
AMONG ANY OF THE PARTIES TO THIS AGREEMENT OF ANY KIND OR NATURE. NO PARTY SHALL BE AWARDED PUNITIVE OR OTHER EXEMPLARY DAMAGES RESPECTING
ANY DISPUTE ARISING UNDER THIS AGREEMENT OR ANY ADDITIONAL AGREEMENT. Each of the parties to this Agreement acknowledge that each has
been represented in connection with the signing of this waiver by independent legal counsel selected by the respective party and that
such party has discussed the legal consequences and import of this waiver with legal counsel. Each of the parties to this Agreement further
acknowledge that each has read and understands the meaning of this waiver and grants this waiver knowingly, voluntarily, without duress
and only after consideration of the consequences of this waiver with legal counsel.

 

(k)       Termination.
This Agreement shall terminate and be of no further force and effect upon the earlier of (i) termination of the Merger Agreement in accordance
with its terms, (ii) mutual written agreement of the parties hereto and, (iii) following the issuance of the Preferred Consideration Shares,
the date upon which Stockholder (together with its Affiliates (as defined in the Company Certificate of Incorporation)), subsidiaries,
successors and assigns (other than the Company and its subsidiaries) ceases to own any Preferred Consideration Shares.  In the event
of the termination of this Agreement as provided in this Section 9(j), this Agreement shall become null and void without any
further action by any party hereto (other than Section 3, Section 6(b) and the provisions of this Section 9).

 

[Signature
Pages to Follow.]

 

    7

     

    

 

IN
WITNESS WHEREOF, this Agreement has been duly executed and delivered by the duly authorized signatories of the parties as of the
date hereof.

 

THE COMPANY:

 

VICKERS VANTAGE CORP. I

 

	By:	/s/ Jeffrey Chi	 
	Name:	Jeffrey Chi	 
	Title:	Chief Executive Officer	 

 

STOCKHOLDER:

 

SORRENTO THERAPEUTICS, INC.

 

	By:	/s/ Henry Ji, Ph.D.	 
	Name:	Henry Ji, Ph.D.	 
	Title:	Chief Executive Officer	 

 

[Signature Page – Stockholder Agreement]

 

    8

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