Document:

Exhibit 10.10

 

SBA PROMISSORY NOTE

 

 

LOAN AUTHORIZATION AND AGREEMENT (LA&A) A PROPERLY SIGNED DOCUMENT IS   REQUIRED  PRIOR TO ANY   DISBURSEMENT CAREFULLY READ THE LA&A : This document describes the terms and conditions of your loan. It is your responsibility to comply with   ALL the terms and conditions of your loan. SIGNING THE LA&A : All borrowers must sign the LA&A.   Sign your name  exactly as it appears on the LA&A. If typed incorrectly, you should sign   with the correct spelling.   If your middle initial appears on the signature line, sign with your middle initial.   If a suffix appears on the signature line, such as Sr. or Jr., sign with your suffix.   Corporate Signatories: Authorized representatives should sign the signature page. Your signature represents your agreement to comply with the terms and conditions of the loan. Ref 50 30 Doc # L - 01 - 2782461 - 01 SBA Loan #6000388203 Application #3312152939 DocuSign Envelope ID: FF3E963C - A0C9 - 44FF - B8A2 - BBF15B9D57FC

     

     

    

Page  2 of 11 SBA Form 1391 (5 - 00) Ref 50 30 U.S. Small Business Administration Economic Injury Disaster Loan LOAN AUTHORIZATION AND AGREEMENT Date: 08.10.2020 (Effective Date) On the above date, this Administration (SBA) authorized (under Section 7(b) of the Small Business Act, as amended) a Loan   (SBA Loan  #6000388203)  to TECHNICAL COMMUNICATIONS CORPORATION (Borrower) of  100 DOMINO DRIVE CONCORD Massachusetts 01742 in the amount of one hundred and fifty thousand  and 00/100 Dollars ($150,000.00), upon the following conditions: PAYMENT   Installment payments, including principal and interest, of  $731.00 Monthly ,  will begin  Twelve (12) months  from the date of the promissory Note. The balance of principal and interest will be payable  Thirty (30) years  from the date of the promissory Note. INTEREST   Interest will accrue at the rate of  3.75 %  per annum and will accrue only on funds actually advanced from the   date(s) of each advance. PAYMENT TERMS   Each payment will be applied first to interest accrued to the date of receipt of each payment, and the balance, if   any, will be applied to principal .   Each payment will be made when due even if at that time the full amount of the Loan has not yet been advanced   or the authorized amount of the Loan has been reduced. COLLATERAL   For loan amounts of greater than $25,000, Borrower hereby grants to SBA, the secured party hereunder, a   continuing security interest in and to any and all “Collateral” as described herein to secure payment and   performance of all debts, liabilities and obligations of Borrower to SBA hereunder without limitation, including   but not limited to all interest, other fees and expenses (all hereinafter called  “Obligations”).  The Collateral   includes the following property that Borrower now owns or shall acquire or create immediately upon the   acquisition or creation thereof: all tangible and intangible personal property, including, but not limited to: (a)   inventory, (b) equipment, (c) instruments, including promissory notes (d) chattel paper, including tangible   chattel paper and electronic chattel paper, (e) documents, (f) letter of credit rights, (g) accounts, including health - care insurance receivables and credit card receivables, (h) deposit accounts, (i) commercial tort claims, (j)  general intangibles, including payment intangibles and software and (k) as - extracted collateral as such terms   may from time to time be defined in the Uniform Commercial Code. The security interest Borrower grants   includes all accessions, attachments, accessories, parts, supplies and replacements for the Collateral, all   products, proceeds and collections thereof and all records and data relating thereto.   For loan amounts of $25,000 or less, SBA is not taking a security interest in any collateral. Doc # L - 01 - 2782461 - 01 SBA Loan #6000388203 Application #3312152939 DocuSign Envelope ID: FF3E963C - A0C9 - 44FF - B8A2 - BBF15B9D57FC

     

     

    

Page  3 of 11 SBA Form 1391 (5 - 00) Ref 50 30 REQUIREMENTS RELATIVE TO COLLATERAL   Borrower will not sell or transfer any collateral (except normal inventory turnover in the ordinary course of   business) described in the "Collateral" paragraph hereof without the prior written consent of SBA. USE OF LOAN PROCEEDS   Borrower will use all the proceeds of this Loan solely as working capital to alleviate economic injury caused by   disaster occurring in the month of January 31, 2020 and continuing thereafter and to pay Uniform Commercial   Code (UCC) lien filing fees and a third - party UCC handling charge of $100 which will be deducted from the Loan amount stated above. REQUIREMENTS FOR USE OF LOAN PROCEEDS AND RECEIPTS   Borrower will obtain and itemize receipts (paid receipts, paid invoices or cancelled checks) and contracts for all   Loan funds spent and retain these receipts for 3 years from the date of the final disbursement. Prior to each   subsequent disbursement (if any) and whenever requested by SBA, Borrower will submit to SBA such   itemization together with copies of the receipts.   Borrower will not use, directly or indirectly, any portion of the proceeds of this Loan to relocate without the   prior written permission of SBA. The law prohibits the use of any portion of the proceeds of this Loan for   voluntary relocation from the business area in which the disaster occurred. To request SBA's prior written   permission to relocate, Borrower will present to SBA the reasons therefore and a description or address of the   relocation site. Determinations of (1) whether a relocation is voluntary or otherwise, and (2) whether any site   other than the disaster - affected location is within the business area in which the disaster occurred, will be made   solely by SBA.   Borrower will, to the extent feasible, purchase only American - made equipment and products with the proceeds   of this Loan.   Borrower will make any request for a loan increase for additional disaster - related damages as soon as possible   after the need for a loan increase is discovered. The SBA will not consider a request for a loan increase received  more than  two (2)  years from the date of loan approval unless, in the sole discretion of the SBA, there  are  extraordinary and unforeseeable circumstances beyond the control of the borrower. DEADLINE FOR RETURN OF LOAN CLOSING DOCUMENTS   Borrower will sign and return the loan closing documents to SBA within 2 months of the date of this Loan   Authorization and  Agreement .  By notifying the Borrower in writing, SBA may cancel this Loan if the   Borrower fails to meet this requirement. The Borrower may submit and the SBA may, in its sole discretion,   accept documents after 2 months of the date of this Loan Authorization and Agreement. COMPENSATION FROM OTHER SOURCES   Eligibility for this disaster Loan is limited to disaster losses that are not compensated by other sources.   Other sources include but are not limited to: (1) proceeds of policies of insurance or other indemnifications, (2) grants or other reimbursement (including loans) from government agencies or private organizations, (3) Doc # L - 01 - 2782461 - 01 SBA Loan #6000388203 Application #3312152939 DocuSign Envelope ID: FF3E963C - A0C9 - 44FF - B8A2 - BBF15B9D57FC

     

     

    

Page  4 of 11 SBA Form 1391 (5 - 00) Ref 50 30 claims for civil liability against other individuals, organizations or governmental entities, and (4) salvage   (including any sale or re - use) of items of damaged property.   Borrower will promptly notify SBA of the existence and status of any claim or application for such other   compensation, and of the receipt of any such compensation, and Borrower will promptly submit the proceeds   of same (not exceeding the outstanding balance of this Loan) to SBA.   Borrower hereby assigns to SBA the proceeds of any such compensation from other sources and authorizes the   payor of same to deliver said proceeds to SBA at such time and place as SBA shall designate.   SBA will in its sole discretion determine whether any such compensation from other sources is a duplication   of benefits. SBA will use the proceeds of any such duplication to reduce the outstanding balance of this Loan,   and Borrower agrees that such proceeds will not be applied in lieu of scheduled payments. DUTY TO MAINTAIN HAZARD INSURANCE   Within 12 months from the date of this Loan Authorization and Agreement the Borrower will provide proof of   an active and in effect hazard insurance policy including fire, lightning, and extended coverage on all items used   to secure this loan to at least 80% of the insurable value. Borrower will not cancel such coverage and will   maintain such coverage throughout the entire term of this Loan.  BORROWER MAY NOT BE ELIGIBLE   FOR EITHER ANY FUTURE DISASTER ASSISTANCE OR SBA FINANCIAL ASSISTANCE IF THIS   INSURANCE IS NOT MAINTAINED AS STIPULATED HEREIN THROUGHOUT THE ENTIRE   TERM OF THIS LOAN.  Please submit proof of insurance to: U.S. Small Business Administration, Office of   Disaster Assistance, 14925 Kingsport Rd, Fort Worth, TX. 76155. BOOKS AND RECORDS   Borrower will maintain current and proper books of account in a manner satisfactory to SBA for the most recent   5 years until 3 years after the date of maturity, including extensions, or the date this Loan is paid in full,   whichever occurs first. Such books will include Borrower's financial and operating statements, insurance   policies, tax returns and related filings, records of earnings distributed and dividends paid and records of   compensation to officers, directors, holders of 10% or more of Borrower's capital stock, members, partners and   proprietors.   Borrower authorizes SBA to make or cause to be made, at Borrower's expense and in such a manner and at such   times as SBA may require: (1) inspections and audits of any books, records and paper in the custody or control   of Borrower or others relating to Borrower's financial or business conditions, including the making of copies   thereof and extracts therefrom, and (2) inspections and appraisals of any of Borrower's assets.   Borrower will furnish to SBA, not later than 3 months following the expiration of Borrower's fiscal year and in   such form as SBA may require, Borrower's financial statements.   Upon written request of SBA, Borrower will accompany such statements with an 'Accountant's Review Report'  prepared by an independent public accountant at Borrower's expense.   Borrower authorizes all Federal, State and municipal authorities to furnish reports of examination, records and   other information relating to the conditions and affairs of Borrower and any desired information from such   reports, returns, files, and records of such authorities upon request of SBA. Doc # L - 01 - 2782461 - 01 SBA Loan #6000388203 Application #3312152939 DocuSign Envelope ID: FF3E963C - A0C9 - 44FF - B8A2 - BBF15B9D57FC

     

     

    

Page  5 of 11 SBA Form 1391 (5 - 00) Ref 50 30 LIMITS ON DISTRIBUTION OF ASSETS   Borrower will not, without the prior written consent of SBA, make any distribution of Borrower’s assets, or give   any preferential treatment, make any advance, directly or indirectly, by way of loan, gift, bonus, or otherwise, to   any owner or partner or any of its employees, or to any company directly or indirectly controlling or affiliated   with or controlled by Borrower, or any other company. EQUAL OPPORTUNITY REQUIREMENT   If Borrower has or intends to have employees, Borrower will post SBA Form 722, Equal Opportunity Poster   (copy attached), in Borrower's place of business where it will be clearly visible to employees, applicants for   employment, and the general public. DISCLOSURE OF LOBBYING ACTIVITIES   Borrower agrees to the attached Certification Regarding Lobbying Activities  BORROWER’S  CERTIFICATIONS Borrower certifies that:   There has been no substantial adverse change in Borrower's financial condition (and organization, in case of a   business borrower) since the date of the application for this Loan. (Adverse changes include, but are not limited   to: judgment liens, tax liens, mechanic's liens, bankruptcy, financial reverses, arrest or conviction of felony, etc.)   No fees have been paid, directly or indirectly, to any representative (attorney, accountant, etc.) for services   provided or to be provided in connection with applying for or closing this Loan, other than those reported on   SBA Form 5 Business Disaster Loan Application'; SBA Form 3501 COVID - 19 Economic Injury Disaster Loan   Application; or SBA Form 159, 'Compensation Agreement'. All fees not approved by SBA are prohibited.   All representations in the Borrower's Loan application (including all supplementary submissions) are true,   correct and complete and are offered to induce SBA to make this Loan.   No claim or application for any other compensation for disaster losses has been submitted to or requested of   any source, and no such other compensation has been received, other than that which Borrower has fully   disclosed to SBA.   Neither the Borrower nor, if the Borrower is a business, any principal who owns at least 50% of the Borrower,   is delinquent more than 60 days under the terms of any: (a) administrative order; (b) court order; or (c)   repayment agreement that requires payment of child support.   Borrower certifies that no fees have been paid, directly or indirectly, to any representative (attorney,   accountant, etc.) for services provided or to be provided in connection with applying for or closing this   Loan, other than those reported on the Loan Application. All fees not approved by SBA are prohibited. If an Applicant chooses to employ an Agent, the compensation an Agent charges to and that is paid by the Applicant must bear a necessary and reasonable relationship to the services actually performed and must   be comparable to those charged by other Agents in the geographical area. Compensation cannot be   contingent on loan approval. In addition, compensation must not include any expenses which are deemed   by SBA to be unreasonable for services actually performed or expenses actually incurred. Compensation   must not include Doc # L - 01 - 2782461 - 01 SBA Loan #6000388203 Application #3312152939 DocuSign Envelope ID: FF3E963C - A0C9 - 44FF - B8A2 - BBF15B9D57FC

     

     

    

Page  6 of 11 SBA Form 1391 (5 - 00) Ref 50 30 charges prohibited in 13 CFR 103 or SOP 50 - 30, Appendix 1.  If the compensation exceeds $500 for a   disaster home loan or $2,500 for a disaster business loan, Borrower must fill out the Compensation   Agreement Form 159D which will be provided for Borrower upon request or can be found on the   SBA website.   Borrower certifies, to the best of its, his or her knowledge and belief, that the certifications and representations in the attached Certification Regarding Lobbying are true, correct and complete and are offered to induce SBA to make this Loan . CIVIL AND CRIMINAL PENALTIES   Whoever wrongfully misapplies the proceeds of an SBA disaster loan shall be civilly liable to the Administrator   in an amount equal to one - and - one half times the original principal amount of the loan under 15 U.S.C. 636(b).   In addition, any false statement or misrepresentation to SBA may result in criminal, civil or administrative   sanctions including, but not limited to: 1) fines, imprisonment or both, under 15 U.S.C. 645, 18 U.S.C. 1001, 18 U.S.C. 1014, 18 U.S.C. 1040, 18 U.S.C. 3571, and any other applicable laws; 2) treble damages and civil   penalties under the False Claims Act, 31 U.S.C. 3729; 3) double damages and civil penalties under the Program   Fraud Civil Remedies Act, 31 U.S.C. 3802; and 4) suspension and/or debarment from all Federal procurement   and non - procurement transactions. Statutory fines may increase if amended by the Federal Civil Penalties   Inflation Adjustment Act Improvements Act of 2015. RESULT OF VIOLATION OF THIS LOAN AUTHORIZATION AND AGREEMENT   If Borrower violates any of the terms or conditions of this Loan Authorization and Agreement, the Loan will be in default and SBA may declare all or any part of the indebtedness immediately due and payable . SBA's failure to exercise its rights under this paragraph will not constitute a waiver .   A default (or any violation of any of the terms and conditions) of any SBA Loan(s) to Borrower and/or its   affiliates will be considered a default of all such Loan(s). DISBURSEMENT OF THE LOAN   Disbursements will be made by and at the discretion of SBA Counsel, in accordance with this Loan   Authorization and Agreement and the general requirements of SBA.   Disbursements may be made in increments as needed.   Other conditions may be imposed by SBA pursuant to general requirements of SBA.   Disbursement may be withheld if, in SBA's sole discretion, there has been an adverse change in Borrower's   financial condition or in any other material fact represented in the Loan application, or if Borrower fails to   meet any of the terms or conditions of this Loan Authorization and Agreement.   NO DISBURSEMENT WILL BE MADE LATER THAN 6 MONTHS FROM THE DATE OF THIS   LOAN AUTHORIZATION AND AGREEMENT UNLESS SBA, IN ITS SOLE DISCRETION,   EXTENDS THIS DISBURSEMENT PERIOD. Doc # L - 01 - 2782461 - 01 SBA Loan #6000388203 Application #3312152939 DocuSign Envelope ID: FF3E963C - A0C9 - 44FF - B8A2 - BBF15B9D57FC

     

     

    

PARTIES AFFECTED   This Loan Authorization and Agreement will be binding upon Borrower and Borrower's successors and   assigns and will inure to the benefit of SBA and its successors and assigns. RESOLUTION OF BOARD OF DIRECTORS   Borrower shall, within 180 days of receiving any disbursement of this Loan, submit the appropriate SBA   Certificate and/or Resolution to the U.S. Small Business Administration, Office of Disaster Assistance, 14925   Kingsport Rd, Fort Worth, TX. 76155. ENFORCEABILITY   This Loan Authorization and Agreement is legally binding, enforceable and approved upon Borrower’s   signature, the  SBA’s  approval and the Loan Proceeds being issued to Borrower by a government issued check or   by electronic debit of the Loan Proceeds to Borrower’ banking account provided by Borrower in application for   this Loan. James E. Rivera   Associate Administrator U.S. Small Business Administration The undersigned agree(s) to be bound by the terms and conditions herein during the term of this Loan, and further agree(s)   that no provision stated herein will be waived without prior written consent of SBA.  Under penalty of perjury of the   United States of America, I hereby certify that I am authorized to apply for and obtain a disaster loan on behalf of   Borrower, in connection with the effects of the COVID - 19 emergency. TECHNICAL COMMUNICATIONS CORPORATION {{0_SH}} Date: 08.10.2020 Carl GUILD, Owner/Officer Note: Corporate Borrowers must execute Loan Authorization and Agreement in corporate name, by a duly authorized   officer. Partnership Borrowers must execute in firm name, together with signature of a general partner. Limited Liability   entities must execute in the entity name by the signature of the authorized managing person. Doc # L - 01 - 2782461 - 01 SBA Loan #6000388203 Application #3312152939 DocuSign Envelope ID: FF3E963C - A0C9 - 44FF - B8A2 - BBF15B9D57FC Page  7 of 11 SBA Form 1391 (5 - 00) Ref 50 30

     

     

    

Page  8 of 11 SBA Form 1391 (5 - 00) CERTIFICATION REGARDING LOBBYING For loans over $150,000, Congress requires recipients to agree to   the following: 1. Appropriated funds may NOT be used for lobbying. 2. Payment of non - federal funds for lobbying must be reported on Form   SF - LLL. 3. Language of this certification must be incorporated into all   contracts and subcontracts exceeding $100,000. 4. All contractors and subcontractors with contracts exceeding $100,000 are required to certify and disclose accordingly. Doc # L - 01 - 2782461 - 01 SBA Loan #6000388203 Application #3312152939 DocuSign Envelope ID: FF3E963C - A0C9 - 44FF - B8A2 - BBF15B9D57FC

     

     

    

Page  9 of 11 SBA Form 1391 (5 - 00) CERTIFICATION REGARDING   LOBBYING Certification for Contracts, Grants, Loans, and Cooperative   Agreements Borrower and all Guarantors (if any) certify, to the best of its, his or her knowledge and belief, that: (1) No Federal appropriated funds have been paid or will be paid, by or on behalf of the undersigned, to   any person for influencing or attempting to influence an officer or employee of any agency, a Member of   Congress, an officer or employee of Congress, or an employee of a Member of Congress in connection   with awarding of any Federal contract, the making of any Federal grant, the making of any Federal loan,   the entering into of any cooperative agreement, and the extension, continuation, renewal, or modification of   any Federal contract, grant, loan, or cooperative agreement. (2) If any funds other than Federal appropriated funds have been paid or will be paid to any person for   influencing or attempting to influence an officer or employee of any agency, a Member of Congress, an   officer or employee of Congress, or an employee of a Member of Congress in connection with this Federal   loan, the undersigned shall complete and submit Standard Form LLL, "Disclosure Form to Report   Lobbying," in accordance with its instructions. (3) The undersigned shall require that the language of this certification be included in the award   documents for all sub - awards at all tiers (including subcontracts, sub - grants, and contracts under grants,   loans, and co - operative agreements) and that all sub - recipients shall certify and disclose accordingly. This certification is a material representation of fact upon which reliance was placed when this transaction   was made or entered into. Submission of this certification is a prerequisite for making or entering into this   transaction imposed by Section 1352, Title 31, U.S. Code. Any person who fails to file the required   certification shall be subject to a civil penalty of not less than $10,000.00 and not more than $100,000.00   for each such failure. Doc # L - 01 - 2782461 - 01 SBA Loan #6000388203 Application #3312152939 DocuSign Envelope ID: FF3E963C - A0C9 - 44FF - B8A2 - BBF15B9D57FC

     

     

    

This Statement of Policy is Posted In Accordance with Regulations of the Small Business Administration This Organization Practices Equal Employment Opportunity We do not discriminate on the ground of race, color, religion, sex, age, disability   or national origin in the hiring, retention, or promotion of employees; nor in   determining their rank, or the compensation or fringe benefits paid them. This Organization Practices Equal Treatment of Clients We do not discriminate on the basis of race, color, religion, sex, marital status,   disability, age or national origin in services or accommodations offered or   provided to our employees, clients or guests. These policies and this notice comply with regulations of the United States Government. Please report violations of this policy to: Administrator Small Business Administration   Washington, D.C. 20416 In order for the public and your employees to know their rights under 13 C . F . R Parts 112 , 113 , and 117 , Small Business Administration Regulations, and to conform with the directions of the Administrator of SBA, this poster must be displayed where it is clearly visible to employees, applicants for employment, and the public . Failure to display the poster as required in accordance with SBA Regulations may be considered evidence of noncompliance and subject you to the penalties contained in those Regulations. Doc # L - 01 - 2782461 - 01 Page  10 of 11 SBA FORM 722 (10 - 02) REF: SOP 9030 PREVIOUS EDITIONS ARE OBSOLETE This form was electronically produced by Elite Federal Inc. U.S. GOVERNMENT PRINTING OFFICE: 1994 0 - 153 - 346 DocuSign Envelope ID: FF3E963C - A0C9 - 44FF - B8A2 - BBF15B9D57FC

     

     

    

Esta Declaración De Principios Se Publica De Acuerdo Con Los Reglamentos De La Agencia Federal Para el Desarrollo de la Pequeña Empresa Esta Organización Practica Igual Oportunidad De Empleo No discriminamos por razón de raza, color, religión, sexo, edad, discapacidad o nacionalidad en el empleo, retención o ascenso de personal ni en la determinación de sus posiciones, salarios o beneficios marginales. Esta Organización Practica Igualdad En El Trato A Su Clientela No discriminamos por razón de raza, color, religión, sexo, estado civil, edad, discapacidad o nacionalidad en los servicios o facilidades provistos para   nuestros empleados, clientes o visitantes. Estos principios y este aviso cumplen con los reglamentos del Gobierno   de los Estados Unidos de América. Favor de informar violaciones a lo aquí indicado a: Administrador Agencia Federal Para el Desarrollo de la   Pequeña Empresa Washington, D.C. 20416 A fin de que el público y sus empleados conozcan sus derechos según lo expresado en las Secciones 112,   113 y 117 del Código de Regulaciaones Federales No. 13, de los Reglamentos de la Agencja Federal Para  el  Desarrollo de la Pequeña Empresa y de acuerdo con las instrucciones del Administrador de dicha  agencia, esta notificación debe fijarse en un lugar claramente visible para los empleados, solicitantes de empleo y   público en general. No fijar esta notificación según lo requerido por los reglamentos de la Agencia Federal Para el Desarrollo de la Pequeña Empresa, puede ser interpretado como evidencia de falta de cumplimiento   de los mismos y conllevará la ejecución de los castigos impuestos en estos reglamentos. Doc # L - 01 - 2782461 - 01 Page  11 of 11 SBA FORM 722 (10 - 02) REF: SOP 9030 PREVIOUS EDITIONS ARE OBSOLETE This form was electronically produced by Elite Federal Inc. U.S. GOVERNMENT PRINTING OFFICE: 1994 0 - 153 - 346 DocuSign Envelope ID: FF3E963C - A0C9 - 44FF - B8A2 - BBF15B9D57FC

     

     

    

NOTE A PROPERLY SIGNED NOTE IS   REQUIRED  PRIOR TO ANY   DISBURSEMENT CAREFULLY READ THE  NOTE :  It is your promise to repay the loan.   The Note is pre - dated.  DO NOT CHANGE THE DATE OF THE NOTE.   LOAN PAYMENTS will be due as stated in the Note.   ANY CORRECTIONS OR UNAUTHORIZED MARKS MAY VOID THIS   DOCUMENT. SIGNING THE NOTE :  All borrowers must sign the Note.   Sign your name  exactly as it appears on the Note. If typed incorrectly, you should sign   with the correct spelling.   If your middle initial appears on the signature line, sign with your middle initial.   If a suffix appears on the signature line, such as Sr. or Jr., sign with your suffix.   Corporate Signatories: Authorized representatives should sign the signature page. Doc # L - 01 - 2782461 - 01 SBA Loan #6000388203 Application #3312152939 DocuSign Envelope ID: FF3E963C - A0C9 - 44FF - B8A2 - BBF15B9D57FC

     

     

    

U.S. Small Business Administration N OTE ( S ECURED  DISASTER LOANS ) Date: 08.10.2020 Loan Amount: $150,000.00 Annual Interest Rate: 3.75% Page 2 of 3 SBA FORM 147 B (5 - 00) SBA Loan # 6000388203 Application #3312152939 1. PROMISE TO PAY:  In return for a loan, Borrower promises to pay to the order of SBA the amount of  one   hundred and fifty thousand  and 00/100 Dollars  ($150,000.00) ,  interest on the unpaid principal balance, and all   other amounts required by this Note. 2. DEFINITIONS: A)  “Collateral” means any property taken as security for payment of this Note or any guarantee of   this Note.  B)  “Guarantor” means each person or entity that signs a guarantee of payment of this Note.  C)  “Loan   Documents” means the documents related to this loan signed by Borrower, any Guarantor, or anyone who pledges   collateral. 3. PAYMENT TERMS:  Borrower must make all payments at the place SBA designates. Borrower may prepay this   Note in part or in full at any time, without notice or penalty. Borrower must pay principal and interest payments of $731.00 every  month beginning  Twelve (12) months from the date of the Note. SBA will apply each installment payment first to pay interest accrued to the day SBA receives the payment and will then apply any remaining balance   to reduce principal. All remaining principal and accrued interest is due and payable  Thirty (30) years from the date   of the Note. 4. DEFAULT:  Borrower is in default under this Note if Borrower does not make a payment when due under this Note,   or if Borrower:  A)  Fails to comply with any provision of this Note, the Loan Authorization and Agreement, or other   Loan Documents;  B)  Defaults on any other SBA loan;  C)  Sells or otherwise transfers, or does not preserve or   account to  SBA’s  satisfaction for, any of the Collateral or its proceeds;  D)  Does not disclose, or anyone acting on   their behalf does not disclose, any material fact to SBA;  E)  Makes, or anyone acting on their behalf makes, a   materially false or misleading representation to SBA;  F)  Defaults on any loan or agreement with another creditor, if   SBA believes the default may materially affect  Borrower’s  ability to pay this Note;  G)  Fails to pay any taxes when   due;  H)  Becomes the subject of a proceeding under any bankruptcy or insolvency law;  I)  Has a receiver or liquidator   appointed for any part of their business or property;  J)  Makes an assignment for the benefit of creditors;  K)  Has any   adverse change in financial condition or business operation that SBA believes may materially affect Borrower’s   ability to pay this Note;  L)  Dies;  M)  Reorganizes, merges, consolidates, or otherwise changes ownership or business   structure without  SBA’s  prior written consent; or,  N)  Becomes the subject of a civil or criminal action that SBA   believes may materially affect  Borrower’s  ability to pay this Note. 5. SBA’S  RIGHTS IF THERE IS A DEFAULT:  Without notice or demand and without giving up any of its rights,   SBA may:  A)  Require immediate payment of all amounts owing under this Note;  B)  Have recourse to collect all   amounts owing from any Borrower or Guarantor (if any);  C)  File suit and obtain judgment;  D)  Take possession of   any Collateral; or  E)  Sell, lease, or otherwise dispose of, any Collateral at public or private sale, with or without   advertisement. 6. SBA’S  GENERAL POWERS:  Without notice and without  Borrower’s  consent, SBA may:  A)  Bid on or buy the   Collateral at its sale or the sale of another lienholder, at any price it chooses;  B)  Collect amounts due under this Note,   enforce the terms of this Note or any other Loan Document, and preserve or dispose of the Collateral. Among other   things, the expenses may include payments for property taxes, prior liens, insurance, appraisals, environmental   remediation costs, and reasonable  attorney’s  fees and costs. If SBA incurs such expenses, it may demand immediate   reimbursement from Borrower or add the expenses to the principal balance;  C)  Release anyone obligated to pay this   Note;  D)  Compromise, release, renew, extend or substitute any of the Collateral; and  E)  Take any action necessary to   protect the Collateral or collect amounts owing on this Note. Doc # L - 01 - 2782461 - 01 SBA Loan #6000388203 Application #3312152939 DocuSign Envelope ID: FF3E963C - A0C9 - 44FF - B8A2 - BBF15B9D57FC

     

     

    

7. FEDERAL LAW APPLIES:  When SBA is the holder, this Note will be interpreted and enforced under federal law,   including SBA regulations. SBA may use state or local procedures for filing papers, recording documents, giving   notice, foreclosing liens, and other purposes. By using such procedures, SBA does not waive any federal immunity   from state or local control, penalty, tax, or liability. As to this Note, Borrower may not claim or assert against SBA   any local or state law to deny any obligation, defeat any claim of SBA, or preempt federal law. 8. GENERAL PROVISIONS: A)  All individuals and entities signing this Note are jointly and severally liable.  B)   Borrower waives all suretyship defenses.  C)  Borrower must sign all documents required at any time to comply with   the Loan Documents and to enable SBA to acquire, perfect, or maintain  SBA’s  liens on Collateral.  D)  SBA may   exercise any of its rights separately or together, as many times and in any order it chooses. SBA may delay or forgo   enforcing any of its rights without giving up any of them.  E)  Borrower may not use an oral statement of SBA to   contradict or alter the written terms of this Note.  F)  If any part of this Note is unenforceable, all other parts remain in   effect.  G)  To the extent allowed by law, Borrower waives all demands and notices in connection with this Note,   including presentment, demand, protest, and notice of dishonor. Borrower also waives any defenses based upon any   claim that SBA did not obtain any guarantee; did not obtain, perfect, or maintain a lien upon Collateral; impaired   Collateral; or did not obtain the fair market value of Collateral at a sale.  H)  SBA may sell or otherwise transfer this   Note. 9. MISUSE OF LOAN FUNDS:  Anyone who wrongfully misapplies any proceeds of the loan will be civilly liable to   SBA for one and one - half times the proceeds disbursed, in addition to other remedies allowed by law. 10. BORROWER’S  NAME(S) AND SIGNATURE(S):  By signing below, each individual or entity acknowledges and   accepts personal obligation and full liability under the Note as Borrower. TECHNICAL COMMUNICATIONS CORPORATION Carl GUILD, Owner/Officer {{0_SH}} Doc # L - 01 - 2782461 - 01 SBA Loan #6000388203 Application #3312152939 DocuSign Envelope ID: FF3E963C - A0C9 - 44FF - B8A2 - BBF15B9D57FC Page 3 of 3 SBA FORM 147 B (5 - 00)

     

     

    

SECURITY AGREEMENT Read this document carefully. It grants the SBA a security interest (lien) in all   the property described in paragraph 4. This document is predated. DO NOT CHANGE THE DATE ON THIS   DOCUMENT. Doc # L - 01 - 2782461 - 01 SBA Loan #6000388203 Application #3312152939 DocuSign Envelope ID: FF3E963C - A0C9 - 44FF - B8A2 - BBF15B9D57FC

     

     

    

U.S. Small Business Administration S ECURITY A GREEMENT SBA Loan #: 6000388203 Borrower: TECHNICAL COMMUNICATIONS CORPORATION Secured Party: The Small Business Administration, an Agency of the U.S. Government Date: 08.10.2020 Note Amount: $150,000.00 Page 2 of 5 SBA Form 1059 (09 - 19) Previous Editions are obsolete. 1. DEFINITIONS. Unless otherwise specified, all terms used in this Agreement will have the meanings ascribed to them under the   Official Text of the Uniform Commercial Code, as it may be amended from time to time, (“UCC”).  “SBA”   means the Small Business Administration, an Agency of the U.S. Government. 2. GRANT OF SECURITY INTEREST. For value received, the Borrower grants to the Secured Party a security interest in the property described below   in paragraph 4 (the “Collateral”). 3. OBLIGATIONS SECURED . This Agreement secures the payment and performance of: (a) all obligations under a Note dated 08.10.2020,   made by TECHNICAL COMMUNICATIONS CORPORATION , made payable to Secured Lender, in the   amount of  $150,000.00  (“Note”), including all costs and expenses (including reasonable  attorney’s  fees),   incurred by Secured Party in the disbursement, administration and collection of the loan evidenced by the Note; (b) all costs and expenses (including reasonable  attorney’s  fees), incurred by Secured Party in the protection, maintenance and enforcement of the security interest hereby granted; (c) all obligations of the Borrower in any   other agreement relating to the Note; and (d) any modifications, renewals, refinancings, or extensions of the   foregoing obligations. 4. COLLATERAL DESCRIPTION. The Collateral in which this security interest is granted includes the following property that Borrower now owns   or shall acquire or create immediately upon the acquisition or creation thereof: all tangible Doc # L - 01 - 2782461 - 01 SBA Loan #6000388203 Application #3312152939 DocuSign Envelope ID: FF3E963C - A0C9 - 44FF - B8A2 - BBF15B9D57FC

     

     

    

Page 3 of 5 SBA Form 1059 (09 - 19) Previous Editions are obsolete. and intangible personal property, including, but not limited to: (a) inventory, (b) equipment, (c) instruments,   including promissory notes (d) chattel paper, including tangible chattel paper and electronic chattel paper, (e)   documents, (f) letter of credit rights, (g) accounts, including health - care insurance receivables and credit card   receivables, (h) deposit accounts, (i) commercial tort claims, (j) general intangibles, including payment intangibles   and software and (k) as - extracted collateral as such terms may from time to time be defined in the Uniform   Commercial Code. The security interest Borrower grants includes all accessions, attachments, accessories, parts, supplies and replacements for the Collateral, all products, proceeds and collections thereof and all records and data relating thereto. 5. RESTRICTIONS ON COLLATERAL TRANSFER. Borrower will not sell, lease, license or otherwise transfer (including by granting security interests, liens, or   other encumbrances in) all or any part of the Collateral or  Borrower’s  interest in the Collateral without Secured   Party’s  written or electronically communicated approval, except that Borrower may sell inventory in the   ordinary course of business on customary terms. Borrower may collect and use amounts due on accounts and   other rights to payment arising or created in the ordinary course of business, until notified otherwise by Secured   Party in writing or by electronic communication. 6. MAINTENANCE AND LOCATION OF COLLATERAL; INSPECTION; INSURANCE. Borrower must promptly notify Secured Party by written or electronic communication of any change in location   of the Collateral, specifying the new location. Borrower hereby grants to Secured Party the right to inspect the   Collateral at all reasonable times and upon reasonable notice. Borrower must: (a) maintain the Collateral in   good condition; (b) pay promptly all taxes, judgments, or charges of any kind levied or assessed thereon; (c)   keep current all rent or mortgage payments due, if any, on premises where the Collateral is located; and (d)   maintain hazard insurance on the Collateral, with an insurance company and in an amount approved by Secured   Party (but in no event less than the replacement cost of that Collateral), and including such terms as Secured   Party may require including a  Lender’s  Loss Payable Clause in favor of Secured Party. Borrower hereby assigns   to Secured Party any proceeds of such policies and all unearned premiums thereon and authorizes and empowers   Secured Party to collect such sums and to execute and endorse in  Borrower’s  name all proofs of loss, drafts,   checks and any other documents necessary for Secured Party to obtain such payments. 7. CHANGES TO  BORROWER’S  LEGAL STRUCTURE, PLACE OF BUSINESS, JURISDICTION   OF ORGANIZATION, OR NAME. Borrower must notify Secured Party by written or electronic communication not less than 30 days before taking   any of the following actions: (a) changing or reorganizing the type of organization or form under which it does   business; (b) moving, changing its place of business or adding a place of business; (c) changing its jurisdiction   of organization; or (d) changing its name. Borrower will pay for the preparation and filing of all documents   Secured Party deems necessary to maintain, perfect and continue the perfection of Secured  Party’s  security   interest in the event of any such change. 8. PERFECTION OF SECURITY INTEREST. Borrower consents, without further notice, to Secured  Party’s  filing or recording of any documents necessary to   perfect, continue, amend or terminate its security interest. Upon request of Secured Party, Borrower must sign or   otherwise authenticate all documents that Secured Party deems necessary at any time to allow Secured Party to   acquire, perfect, continue or amend its security interest in the Collateral. Borrower will pay the filing and recording   costs of any documents relating to Secured Party’s security interest. Borrower ratifies all previous filings and   recordings, including financing statements and Doc # L - 01 - 2782461 - 01 SBA Loan #6000388203 Application #3312152939 DocuSign Envelope ID: FF3E963C - A0C9 - 44FF - B8A2 - BBF15B9D57FC

     

     

    

Page 4 of 5 SBA Form 1059 (09 - 19) Previous Editions are obsolete. notations on certificates of title. Borrower will cooperate with Secured Party in obtaining a Control Agreement   satisfactory to Secured Party with respect to any Deposit Accounts or Investment Property, or in otherwise obtaining   control or possession of that or any other Collateral. 9. DEFAULT. Borrower is in default under this Agreement if: (a) Borrower fails to pay, perform or otherwise comply with any   provision of this Agreement; (b) Borrower makes any materially false representation, warranty or certification   in, or in connection with, this Agreement, the Note, or any other agreement related to the Note or this   Agreement; (c) another secured party or judgment creditor exercises its rights against the Collateral; or (d) an   event defined as a “default” under the Obligations occurs. In the event of default and if Secured Party requests,   Borrower must assemble and make available all Collateral at a place and time designated by Secured Party. Upon default and at any time thereafter, Secured Party may declare all Obligations secured hereby immediately due and payable, and, in its sole discretion, may proceed to enforce payment of same and exercise any of the   rights and remedies available to a secured party by law including those available to it under Article 9 of the   UCC that is in effect in the jurisdiction where Borrower or the Collateral is located. Unless otherwise required   under applicable law, Secured Party has no obligation to clean or otherwise prepare the Collateral for sale or   other disposition and Borrower waives any right it may have to require Secured Party to enforce the security   interest or payment or performance of the Obligations against any other person. 10. FEDERAL RIGHTS. When SBA is the holder of the Note, this Agreement will be construed and enforced under federal law,   including SBA regulations. Secured Party or SBA may use state or local procedures for filing papers, recording   documents, giving notice, enforcing security interests or liens, and for any other purposes. By using such   procedures, SBA does not waive any federal immunity from state or local control, penalty, tax or liability. As to   this Agreement, Borrower may not claim or assert any local or state law against SBA to deny any obligation,   defeat any claim of SBA, or preempt federal law. 11. GOVERNING LAW. Unless SBA is the holder of the Note, in which case federal law will govern, Borrower and Secured Party agree   that this Agreement will be governed by the laws of the jurisdiction where the Borrower is located, including the   UCC as in effect in such jurisdiction and without reference to its conflicts of laws principles. 12. SECURED PARTY RIGHTS. All rights conferred in this Agreement on Secured Party are in addition to those granted to it by law, and all   rights are cumulative and may be exercised simultaneously. Failure of Secured Party to enforce any rights or   remedies will not constitute an estoppel or waiver of Secured  Party’s  ability to exercise such rights or remedies.   Unless otherwise required under applicable law, Secured Party is not liable for any loss or damage to Collateral   in its possession or under its control, nor will such loss or damage reduce or discharge the Obligations that are   due, even if Secured  Party’s  actions or inactions caused or in any way contributed to such loss or damage. 13. SEVERABILITY. If any provision of this Agreement is unenforceable, all other provisions remain in effect. Doc # L - 01 - 2782461 - 01 SBA Loan #6000388203 Application #3312152939 DocuSign Envelope ID: FF3E963C - A0C9 - 44FF - B8A2 - BBF15B9D57FC

     

     

    

14. BORROWER CERTIFICATIONS. Borrower certifies that: (a) its Name (or Names) as stated above is correct; (b) all Collateral is owned or titled in   the  Borrower’s  name and not in the name of any other organization or individual; (c) Borrower has the legal   authority to grant the security interest in the Collateral; (d)  Borrower’s  ownership in or title to the Collateral is   free of all adverse claims, liens, or security interests (unless expressly permitted by Secured Party); (e) none of   the Obligations are or will be primarily for personal, family or household purposes; (f) none of the Collateral is   or will be used, or has been or will be bought primarily for personal, family or household purposes; (g)   Borrower has read and understands the meaning and effect of all terms of this Agreement. 15. BORROWER NAME(S) AND SIGNATURE(S). By signing or otherwise authenticating below, each individual and each organization becomes jointly and   severally obligated as a Borrower under this Agreement. TECHNICAL COMMUNICATIONS CORPORATION 08.10.2020 Date: Carl GUILD, Owner/Officer {{0_SH}} Doc # L - 01 - 2782461 - 01 SBA Loan #6000388203 Application #3312152939 DocuSign Envelope ID: FF3E963C - A0C9 - 44FF - B8A2 - BBF15B9D57FC Page 5 of 5 SBA Form 1059 (09 - 19) Previous Editions are obsolete.Exhibit 10.1

 

SECURITIES PURCHASE AGREEMENT

 

This SECURITIES PURCHASE
AGREEMENT (this “Agreement”) is dated as of December 24, 2020, by and among Accelerate Diagnostics, Inc., a
Delaware corporation (the “Company”), and each purchaser identified on Annex I attached hereto (each,
including its successors and assigns, a “Purchaser” and collectively, the “Purchasers”).

 

WHEREAS, subject to
the terms and conditions set forth in this Agreement and pursuant to Section 4(a)(2) of the Securities Act (as defined below) and
Rule 506 promulgated thereunder, the Company desires to issue and sell to the Purchasers, and the Purchasers desire to purchase
from the Company, certain securities of the Company, as more fully described in this Agreement.

 

WHEREAS, contemporaneously
with the execution and delivery of this Agreement, the parties hereto are executing and delivering a Registration Rights Agreement,
substantially in the form attached hereto as Exhibit A (the “Registration Rights Agreement”), pursuant
to which, among other things, the Company will agree to provide registration rights with respect to the certain securities of the
Company under the Securities Act and the rules and regulations promulgated thereunder and applicable state securities laws.

 

NOW, THEREFORE, IN
CONSIDERATION of the mutual covenants contained in this Agreement, and for other good and valuable consideration the receipt and
adequacy of which are hereby acknowledged, the Company and each Purchaser agree as follows:

 

ARTICLE
1.

DEFINITIONS

 

1.1.          Definitions. In addition to the terms defined elsewhere in this Agreement, for all purposes of this Agreement, the
following terms shall have the meanings indicated in this Section 1.1:

 

“Agreement”
has the meaning set forth in the Preamble.

 

“Action”
means any action, suit, inquiry, notice of violation, proceeding (including any partial proceeding such as a deposition) or investigation
pending or threatened in writing against or affecting the Company, any Subsidiary or any of their respective properties before
or by any court, arbitrator, governmental or administrative agency, regulatory authority (federal, state, county, local or foreign),
stock market, stock exchange or trading facility.

 

“Affiliate”
means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common
control with a Person, as such terms are used in and construed under Rule 144.

 

“Business Day”
means any day except Saturday, Sunday and any day which is a federal legal holiday or a day on which banking institutions in the
State of New York are authorized or required by law or other governmental action to close.

 

“Closing”
means a closing of the purchase and sale of the Securities for each Tranche pursuant to Article II.

 

     

     

    

 

“Closing Date”
means the means the Business Day on which all of the conditions set forth in Sections 5.1 and 5.2 hereof are satisfied
following (i) the date of execution of this Agreement with respect to the Closing of the first Tranche, (ii) March 31, 2021 with
respect to the Closing of the second Tranche and (iii) June 30, 2021 with respect to the Closing of the third Tranche, or such
other dates as the parties may agree.

 

“Commission”
means the Securities and Exchange Commission.

 

“Common Stock”
means the common stock of the Company, par value $0.001 per share, and any securities into which such common stock may hereafter
be reclassified.

 

“Company”
has the meaning set forth in the Preamble.

 

“Company Deliverables”
has the meaning set forth in Section 2.2(a).

 

“Company Party”
has the meaning set forth in Section 4.2(b).

 

“Exchange Act”
means the Securities Exchange Act of 1934, as amended.

 

“HSR Act”
means the Hart Scott-Rodino Antitrust Improvements Act of 1976, as amended, and its implementing regulations.

 

“Indemnified
Party” has the meaning set forth in Section 4.2(c).

 

“Indemnifying
Party” has the meaning set forth in Section 4.2(c).

 

“Investment
Amount” means, with respect to each Purchaser, the aggregate amount to be paid for the Securities purchased hereunder
as set forth opposite the name of such Purchaser under the heading “Investment Amount” on Annex I
attached hereto, in United States dollars and in immediately available funds.

 

“Lead Purchaser”
means the Purchaser purchasing a majority of the Securities pursuant to this Agreement.

 

“Lien”
means any lien, charge, encumbrance, security interest, right of first refusal or other restrictions of any kind.

 

“Losses”
has the meaning set forth in Section 4.2(a).

 

“Material Adverse
Effect” has the meaning set forth in Section 3.1(d).

 

“Nasdaq”
means The Nasdaq Stock Market.

 

“Outside Date”
means the 60th day following the date of this Agreement.

 

“Per Share
Purchase Price” equals $7.68, which is the “market value” of the Common Stock in accordance with Nasdaq
rules and equal to the consolidated closing bid price of the Common Stock reported on The Nasdaq Capital Market immediately
preceding the time this Agreement is entered into.

 

    2

     

    

 

“Person”
means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability
company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

“Proceeding”
means an action, claim, suit, investigation or proceeding (including, without limitation, an investigation or partial proceeding,
such as a deposition), whether commenced or threatened.

 

“Purchaser”
or “Purchasers” has the meaning set forth in the Preamble.

 

“Purchaser Deliverables”
has the meaning set forth in Section 2.2(b).

 

“Purchaser Party”
has the meaning set forth in Section 4.2(a).

 

“Registration
Rights Agreement” has the meaning set forth in the Recitals.

 

“Rule 144”
means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or
any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule.

 

“SEC Reports”
has the meaning set forth in Section 3.2(e).

 

“Securities”
means the shares of Common Stock issued or issuable to the Purchasers pursuant to this Agreement.

 

“Securities
Act” means the Securities Act of 1933, as amended.

 

“Short Sales”
include, without limitation, all “short sales” as defined in Rule 200 promulgated under Regulation SHO under the Exchange
Act and all types of direct and indirect stock pledges, forward sale contracts, options, puts, calls, swaps and similar arrangements
(including on a total return basis), and sales and other transactions through non-US broker dealers or foreign regulated brokers.

 

“Subsidiary”
means any “significant subsidiary” as defined in Rule 1-02(w) of the Regulation S-X promulgated by the Commission under
the Exchange Act.

 

“Tranche”
has the meaning set forth in Section 2.1(a).

 

“Transaction
Documents” means this Agreement, the Registration Rights Agreement and any other documents or agreements explicitly contemplated
hereunder.

 

    3

     

    

 

ARTICLE
2.

PURCHASE AND SALE

 

2.1.          Closings.

 

(a)                Subject
to the terms and conditions set forth in this Agreement, the Company shall issue and sell to each Purchaser, and each Purchaser
will purchase, severally and not jointly, the aggregate number of Securities set forth opposite the name of such Purchaser under
the heading “Number of Securities Purchased” on Annex I attached hereto, which shall be equal
to such Purchaser’s Investment Amount divided by the Per Share Purchase Price (rounded down to the nearest whole share),
in three approximately equal tranches (each, a “Tranche”).

 

(b)               The
Closing of each Tranche shall take place remotely via the electronic exchange of documents and signatures on the applicable Closing
Date, or in such other manner as the parties agree in writing. For accounting and computational purposes, a Closing will be deemed
to have occurred at 12:01 a.m. (New York time) on such Closing Date.

 

2.2.          Closing Deliveries.

 

(a)               At
the Closing for each Tranche, the Company shall deliver or cause to be delivered to each Purchaser the following (the “Company
Deliverables”):

 

(i)           
in the case of the Closing for the first Tranche:

 

		(A)	this Agreement, duly executed by the Company;

 

		(B)	the Registration Rights Agreement, duly executed by the Company;

 

		(C)	confirmation from Nasdaq that it has completed its review of the Company’s submission of a Notification Form: Listing
of Additional Shares for the listing of the Securities with no objections to the transactions contemplated herein; and

 

(ii)           a certificate evidencing the number of Securities purchased by such Purchaser in the Tranche and registered in the name
of such Purchaser as specified on Annex I attached hereto;

 

    4

     

    

 

(b)               At the Closing for each Tranche, each Purchaser shall deliver or cause to be delivered to the Company the following (the
 “Purchaser Deliverables”):

 

(i)                in
the case of the Closing for the first Tranche:

 

	 	(A)	this Agreement, duly executed by such Purchaser;
	 
	 	(B)	the Registration Rights Agreement, duly executed by such Purchaser; and

 

(ii)               such
Purchaser’s payment for the Securities purchased by it in the Tranche (which, for the avoidance of doubt, will be approximately
one-third (1/3) of such Purchaser’s Investment Amount), in United States dollars and in immediately available funds, by
wire transfer to an account designated in writing by the Company for such purpose.

 

ARTICLE
3.

REPRESENTATIONS AND WARRANTIES

 

3.1.          Representations
and Warranties of the Company. The Company hereby makes the following representations and warranties to each Purchaser:

 

(a)               Authorization;
Enforcement. The Company has the requisite corporate power and authority to enter into the Transaction Documents and to consummate
the transactions contemplated thereby. The execution and delivery of the Transaction Documents by the Company and the consummation
by it of the transactions contemplated thereby have been duly authorized by all necessary action on the part of the Company. Each
of the Transaction Documents has been (or upon delivery will have been) duly executed by the Company and, when delivered in accordance
with the terms hereof, will constitute the valid and binding obligation of the Company enforceable against the Company in accordance
with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium,
liquidation or similar laws relating to, or affecting generally the enforcement of, creditors’ rights and remedies or by
other equitable principles of general application.

 

(b)               Issuance
of the Securities. The Securities have been duly authorized and, when issued and paid for in accordance with this Agreement,
will be duly and validly issued, fully paid and nonassessable, free and clear of all Liens. The Company has reserved from its
duly authorized capital stock the shares of Common Stock issuable pursuant to this Agreement.

 

(c)              
Certain Fees. No brokerage or finder’s fees or commissions are or will be payable by the Company to any broker,
financial advisor or consultant, finder, placement agent, investment banker, bank or other Person with respect to the transactions
contemplated by the Transaction Documents. The Purchasers shall have no obligation with respect to any fees or with respect to
any claims (other than such fees or commissions owed by any such Purchaser pursuant to written agreements executed by such Purchaser
which fees or commissions shall be the sole responsibility of such Purchaser) made by or on behalf of other Persons for fees of
a type contemplated in this Section that may be due in connection with the transactions contemplated by the Transaction Documents.

 

    5

     

    

 

(d)               No
Violation or Default. Neither the Company nor any of its subsidiaries is: (i) in violation of its charter or by-laws or similar
organizational documents; (ii) in default, and no event has occurred that, with notice or lapse of time or both, would constitute
such a default, in the due performance or observance of any term, covenant, condition or other obligation contained in any indenture,
mortgage, deed of trust, loan agreement or other agreement or instrument to which the Company or any of its subsidiaries is a
party or by which the Company or any of its subsidiaries is bound or to which any property, right or asset of the Company or any
of its subsidiaries is subject; or (iii) in violation of any law or statute applicable to the Company or any of its subsidiaries
or any judgment, order, rule or regulation of any court or arbitrator or governmental or regulatory authority having jurisdiction
over the Company or any of its subsidiaries or any of their respective property or assets, except, in the case of clauses (ii)
and (iii) above, for any such default or violation that would not, individually or in the aggregate, reasonably be expected to
have a material adverse effect on the business, properties, management, financial position, stockholders’ equity, results
of operations or prospects of the Company and its subsidiaries, taken as a whole or on the performance by the Company of its obligations
under the Transaction Documents (a “Material Adverse Effect”).

 

(e)               No
Conflicts. The execution, delivery and performance by the Company of the Transaction Documents and the issuance, sale and
delivery of the Securities will not: (i) result in any violation of the provisions of the charter or by-laws or similar organizational
documents of the Company or any of its subsidiaries; (ii) conflict with or result in a breach or violation of any of the terms
or provisions of, constitute a default under, result in the termination, modification or acceleration of, or result in the creation
or imposition of any lien, charge or encumbrance upon any property, right or asset of the Company or any of its subsidiaries pursuant
to, any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the Company or any of its
subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any property, right or asset of
the Company or any of its subsidiaries is subject; or (iii) result in the violation of any law or statute applicable to the Company
or any of its subsidiaries or any judgment, order, rule or regulation of any court or arbitrator or governmental or regulatory
authority having jurisdiction over the Company or any of its subsidiaries or any of their respective property or assets, except,
in the case of clauses (ii) and (iii) above, for any such conflict, breach, violation, default, lien, charge or encumbrance that
would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

 

3.2.          Representations
and Warranties of the Purchasers. Each Purchaser hereby, for itself and for no other Purchaser, hereby represents and warrants
to the Company as follows:

 

(a)               Authorization;
Enforcement. Such Purchaser is either an individual or an entity duly incorporated or formed, validly existing and in
good standing under the laws of the jurisdiction of its incorporation or formation with full right, corporate, partnership,
limited liability company or similar power and authority to enter into the Transaction Documents and to consummate the
transactions contemplated thereby. The execution and delivery of the Transaction Documents by such Purchaser and the
consummation by it of the transactions contemplated thereby have been duly authorized by all necessary corporate,
partnership, limited liability company or similar action, as applicable, on the part of such Purchaser. Each of the
Transaction Documents has been (or upon delivery will have been) duly executed by such Purchaser and, when delivered in
accordance with the terms hereof, will constitute the valid and binding obligation of such Purchaser enforceable against it
in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium, liquidation or similar laws relating to, or affecting generally the enforcement of,
creditors’ rights and remedies or by other equitable principles of general application.

 

    6

     

    

 

(b)              
Investment Intent. Such Purchaser is acquiring the Securities as principal for its own account for investment purposes
only and not with a view to or for distributing or reselling such Securities or any part thereof, without prejudice, however, to
such Purchaser’s right at all times to sell or otherwise dispose of all or any part of Securities in compliance with applicable
federal and state securities laws. Subject to the immediately preceding sentence, nothing contained herein shall be deemed a representation
or warranty by such Purchaser to hold the Securities for any period of time. Such Purchaser is acquiring the Securities hereunder
in the ordinary course of its business. Such Purchaser does not have any agreement or understanding, directly or indirectly, with
any Person to distribute any of the Securities.

 

(c)              
Purchaser Status. At the time Such Purchaser was offered the Securities, it was, and at the date hereof it is, (i)
knowledgeable, sophisticated and experienced in making, and qualified to make, decisions with respect to investments in securities
representing and investment decision similar to that involved in the purchase of the Securities, including investments in securities
issued by the Company and comparable entities, and (ii) an “accredited investor” as defined in Rule 501(a) under the
Securities Act. Such Purchaser is not a registered broker-dealer under Section 15 of the Exchange Act.

 

(d)              
General Solicitation. Such Purchaser is not purchasing the Securities as a result of any advertisement, article,
notice or other communication regarding the Securities published in any newspaper, magazine or similar media or broadcast over
television or radio or presented at any seminar or any other general solicitation or general advertisement.

 

(e)              
Access to Information. Such Purchaser acknowledges that it has had the opportunity to review the Transaction Documents
and the Company’s reports required to be filed by it under the Securities Act and the Exchange Act, including pursuant to
Section 13(a) or 15(d) thereof (the “SEC Reports”), and has been afforded (i) the opportunity to ask such questions
as it has deemed necessary of, and to receive answers from, representatives of the Company concerning the terms and conditions
of the offering of the Securities and the merits and risks of investing in the Securities; (ii) access to information about the
Company and the Subsidiaries and their respective financial condition, results of operations, business, properties, management
and prospects sufficient to enable it to evaluate its investment; and (iii) the opportunity to obtain such additional information
that the Company possesses or can acquire without unreasonable effort or expense that is necessary to make an informed investment
decision with respect to the investment. Neither such inquiries nor any other investigation conducted by or on behalf of such Purchaser
or its representatives or counsel shall modify, amend or affect such Purchaser’s right to rely on the truth, accuracy and
completeness of the SEC Reports and the Company’s representations and warranties contained in this Agreement, subject to
the exceptions thereto and as set forth therein, as the case may be.

 

    7

     

    

 

(f)                Certain Trading Activities. Such Purchaser has not directly or indirectly, nor has any Person acting on behalf of
or pursuant to any understanding with it, engaged in any transactions in the securities of the Company (including, without limitations,
any Short Sales involving the Company’s securities) since the 30th day prior to the date of this Agreement. Such
Purchaser covenants that neither it nor any Person acting on its behalf or pursuant to any understanding with it will engage in
any transactions in the securities of the Company (including Short Sales) during the period from the date hereof until the earlier
of such time as (i) the transactions contemplated by this Agreement are publicly disclosed or (ii) this Agreement is terminated
in full pursuant to Section 6.5.

 

(g)               Reliance
on Purchaser Representations. Such Purchaser understands that the Securities are being offered and sold to it in reliance
upon specific exemptions from the registration requirements of the Securities Act and the rules and regulations promulgated thereunder,
and state securities laws and that the Company is relying upon the truth and accuracy of, and such Purchaser’s compliance
with, the representations, warranties, agreements, acknowledgements and understandings of such Purchaser set forth herein in order
to determine the availability of such exemptions and the eligibility of such Purchaser to acquire the Securities. Under such laws
and rules and regulations, the Securities may be resold without registration under the Securities Act only in certain limited
circumstances. Such Purchaser represents that it is familiar with Rule 144 under the Securities Act, as presently in effect, and
understands the resale limitations.

 

(h)               Risks
of Investment. Such Purchaser understands that its investment in the Securities involves a significant degree of risk, including
a risk of total loss of its investment, and such Purchaser has full cognizance of and understands all of the risk factors related
to its purchase of the Securities, including, but not limited to, those set forth under the caption “Risk Factors”
in the SEC Reports. Such Purchaser understands that the market price of the Common Stock has been volatile and that no representation
is being made as to the future value of the Common Stock. Such Purchaser has the knowledge and experience in financial and business
matters as to be capable of evaluating the merits and risks of an investment in the Securities and has the ability to bear the
economic risks of an investment in the Securities.

 

(i)                No
Approvals. Such Purchaser understands that no United States federal or state agency or any other government or governmental
agency has passed upon or made any recommendation or endorsement of the Securities.

 

(j)                Independent
Investment Decision. Such Purchaser has independently evaluated the merits of its decision to purchase Securities pursuant
to this Agreement, and such Purchaser confirms that it has not relied on the advice of any other Purchaser’s business and/or
legal counsel in making such decision. Such Purchaser understands that nothing in this Agreement or any other materials presented
by or on behalf of the Company to such Purchaser in connection with the purchase of the Securities constitutes legal, tax or investment
advice. Such Purchaser has consulted such legal, tax and investment advisors as it, in its sole discretion, has deemed necessary
or appropriate in connection with its purchase of the Securities.

 

    8

     

    

 

(k)               Residency. Such Purchaser’s residence (if an individual) or offices in which its investment decision with
respect to the Securities was made (if an entity) are located at the address set forth under such Purchaser’s name on Annex
I attached hereto.

  

ARTICLE
4.

OTHER AGREEMENTS OF THE PARTIES

 

4.1.          Transfer
Restrictions. 

 

(a)               Compliance
with Laws. Notwithstanding any other provision of this Article 4, each Purchaser covenants that the Securities may
be disposed of only pursuant to an effective registration statement under, and in compliance with the requirements of, the Securities
Act, or pursuant to an available exemption from, or in a transaction not subject to, the registration requirements of the Securities
Act, and in compliance with any applicable U.S. state and federal securities laws. In connection with any transfer of the Securities
other than (i) pursuant to an effective registration statement, (ii) to the Company or (iii) pursuant to Rule 144 (provided that
the Purchaser provides the Company with reasonable assurances (in the form of seller and, if applicable, broker representation
letters) that the securities may be sold pursuant to such rule), the Company may require the transferor thereof to provide to
the Company an opinion of counsel selected by the transferor and reasonably acceptable to the Company, the form and substance
of which opinion shall be reasonably satisfactory to the Company, to the effect that such transfer does not require registration
of such transferred Securities under the Securities Act. As a condition of transfer, any such transferee shall agree in writing
to be bound by the terms of the Transaction Documents and shall have the rights of a Purchaser under the Transaction Documents
with respect to such transferred Securities.

 

(b)              
Legends. Certificates evidencing the Securities will contain the legend in substantially the following form:

 

THESE SECURITIES HAVE NOT BEEN REGISTERED
WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION
UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE TRANSFERRED, SOLD,
ASSIGNED, PLEDGED, OR OTHERWISE DISPOSED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT
TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN
ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO SUCH EFFECT, THE SUBSTANCE OF WHICH
SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.

 

    9

     

    

 

4.2.           Indemnification.

 

(a)         The
Company will indemnify and hold each Purchaser and its directors, officers, employees, agents and Affiliates (each, a “Purchaser
Party”) harmless from any and all losses, liabilities, obligations, claims, contingencies, damages, costs and expenses,
including all judgments, amounts paid in settlements, court costs and reasonable attorneys’ fees and costs of investigation
(collectively, “Losses”) that any such Purchaser Party may suffer or incur as a result of or relating to any
misrepresentation, breach or inaccuracy of any representation, warranty, covenant or agreement made by the Company in the Transaction
Documents.

 

(b)       
Each Purchaser will, severally and not jointly, indemnify and hold the Company and its directors, officers, employees, agents
and Affiliates (each, a “Company Party”) harmless from any and all Losses that any such Company Party may suffer
or incur as a result of or relating to any misrepresentation, breach or inaccuracy of any representation, warranty, covenant or
agreement made by such Purchaser in the Transaction Documents.

 

(c)        
In addition to the indemnities contained in this Section 4.2, if any Proceeding shall be brought or asserted against
any Person entitled to indemnity hereunder (each, an “Indemnified Party”), each Person from whom indemnity is
sought (each, an “Indemnifying Party”) shall reimburse the Indemnified Party for its reasonable legal and other
expenses (including the cost of any investigation, preparation and travel in connection therewith) incurred in connection therewith,
as such expenses are incurred.

 

4.3.          
HSR Act. To the extent applicable, each Purchaser shall make all filings required, and take any other action necessary,
under the HSR Act to consummate the transactions contemplated in the Transaction Documents.

 

ARTICLE
5.

CONDITIONS PRECEDENT TO CLOSING

 

5.1.          Conditions Precedent to the Obligations of the Purchasers to Purchase Securities. The obligation of each Purchaser
to acquire Securities at the Closing for each Tranche is subject to the satisfaction or waiver by such Purchaser, at or before
such Closing, of each of the following conditions:

 

(a)        
Representations and Warranties. The representations and warranties of the Company contained herein shall be true
and correct in all material respects as of the date when made and as of the applicable Closing Date for the Closing of such Tranche
as though made on and as of such date;

 

(b)         Performance.
The Company shall have performed, satisfied and complied in all material respects with all covenants, agreements and conditions
required by the Transaction Documents to be performed, satisfied or complied with by it at or prior to such Closing;

 

    10

     

    

 

(c)        
No Injunction. No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted,
entered, promulgated or endorsed by any court or governmental authority of competent jurisdiction that prohibits the consummation
of any of the transactions contemplated by the Transaction Documents;

 

(d)        
Company Deliverables. The Company shall have delivered the Company Deliverables in accordance with Section 2.2(a).

 

(e)        
HSR Act. All applicable waiting periods, if any, in respect of the transactions
contemplated in the Transaction Documents under the HSR Act will have expired
or terminated.

 

5.2.          Conditions Precedent to the Obligations of the Company to sell Securities. The obligation of the Company to sell
Securities to each Purchaser at the Closing for each Tranche is subject to the satisfaction or waiver by the Company, at or before
such Closing, of each of the following conditions:

 

(a)        
Representations and Warranties. The representations and warranties made by each Purchaser contained herein shall
be true and correct in all material respects as of the date when made and as of the applicable Closing Date for the Closing of
such Tranche as though made on and as of such date;

 

(b)         Performance. Such Purchaser shall have performed, satisfied and complied in all material respects with all covenants,
agreements and conditions required by the Transaction Documents to be performed, satisfied or complied with by such Purchaser at
or prior to such Closing;

 

(c)         No
Injunction. No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered,
promulgated or endorsed by any court or governmental authority of competent jurisdiction that prohibits the consummation of any
of the transactions contemplated by the Transaction Documents; and

 

(d)         Purchaser
Deliverables. Such Purchaser shall have delivered its Purchaser Deliverables in accordance with Section
2.2(b).

 

(e)         HSR Act. All applicable waiting periods for all Purchasers, if any, in respect
of the transactions contemplated in the Transaction Documents under the HSR
Act will have expired or terminated.

 

ARTICLE
6.

MISCELLANEOUS

 

6.1.          Fees
and Expenses. Each of the Company and the respective Purchasers has relied on the advice of its own respective counsel.
Each party shall pay the fees and expenses of its advisers, counsel, accountants and other experts, if any, and all other
expenses incurred by such party incident to the negotiation, preparation, execution, delivery and performance of this
Agreement; provided, that the Company shall reimburse the Lead Purchaser for the filing fees and reasonable
attorneys’ fees incurred in connection with the preparation and filing of any Notification and Report Forms and
accompanying materials required to be filed under the HSR Act that cover and/or allow the acquisition of the Securities by
the Lead Purchaser, including any required corrective filings and accompanying explanatory letters (the “Applicable
HSR Filings”); provided, further, that for the avoidance of doubt, in no event will such required
reimbursement include (i) any penalties or fines imposed on the Lead Purchaser due to any violation(s) of the HSR Act or (ii)
any legal fees arising in connection with any such violations, including in connection with the preparation and filing of a
corrective Notification and Report Form under the HSR Act relating to any such violation(s).

 

    11

     

    

 

6.2.         
Entire Agreement. The Transaction Documents contain the entire understanding of the parties with respect to the subject
matter hereof and supersede all prior agreements, understandings, discussions and representations, oral or written, with respect
to such matters. At or after each Closing, and without further consideration, the Company and the Purchasers will execute and deliver
to the other such further documents as may be reasonably requested in order to give practical effect to the intention of the parties
under the Transaction Documents.

 

6.3.          Notices. All notices and other communications hereunder shall be in writing and shall be deemed given if delivered
personally, sent by electronic mail, telecopied (upon telephonic confirmation of receipt), on the first Business Day following
the date of dispatch if delivered by a recognized next day courier service, or on the third Business Day following the date of
mailing if delivered by registered or certified mail, return receipt requested, postage prepaid. All notices hereunder shall be
delivered as set forth below, or pursuant to such other instructions as may be designated in writing by the party to receive such
notice:

 

		If to the Company:	Accelerate
Diagnostics, Inc.

3950 S. Country Club Rd. #470

Tucson, AZ 85714

Fax: (520) 269-6580

E-mail: mbridge@axdx.com

Attn: Michael Bridge

 

		with a copy to:	Snell & Wilmer L.L.P.

One Arizona Center
 400 East Van Buren
 Phoenix, AZ 85004-2202
 Fax: (602) 382-6070

Attn: Dan Mahoney and Joshua Schneiderman

 

If to a Purchaser:                To the
address set forth under such Purchaser’s name on Annex I attached hereto.

 

6.4.          Amendments;
Waivers; No Additional Consideration. No provision of this Agreement may be waived or amended except in a written
instrument signed by the Company and the Purchasers. No waiver of any default with respect to any provision, condition or
requirement of this Agreement shall be deemed to be a continuing waiver in the future or a waiver of any subsequent default
or a waiver of any other provision, condition or requirement hereof, nor shall any delay or omission of either party to
exercise any right hereunder in any manner impair the exercise of any such right.

 

    12

     

    

 

6.5.          Termination. This Agreement may be terminated prior to the Closing Date for the first Tranche on a Purchaser-by-Purchaser
basis:

 

(a)        
by written agreement of such Purchaser and the Company; or

 

(b)        
by the Company or such Purchaser upon written notice to the other, if the first Closing shall not have taken place by 6:30
p.m. Eastern time on the Outside Date; provided, that in the event the first Closing shall not have occurred by such time
due to the Purchasers’ failure to satisfy the conditions set forth in Section 5.2(e) relating to the HSR Act, the
deadline for purposes of this Section 6.5(b) shall be extended to 6:30 p.m. Eastern time on the fifth Business Day following
such date that all applicable waiting periods for all Purchasers, if any, in respect of the transactions contemplated in the Transaction
Documents under the HSR Act will have expired or terminated; provided, further, that the right to terminate this
Agreement under this Section 6.5(b) shall not be available to any Person whose failure to comply with its obligations
under this Agreement has been the cause of or resulted in the failure of such Closing to occur on or before such time.

 

Upon a termination
in accordance with this Section 6.5, the Company and such Purchaser shall not have any further obligation or liability (including
as arising from such termination) to the other.

 

6.6.          Construction. The headings herein are for convenience only, do not constitute a part of this Agreement and shall
not be deemed to limit or affect any of the provisions hereof. The language used in this Agreement will be deemed to be the language
chosen by the parties and their counsel to express their mutual intent, and no rules of strict construction will be applied against
any party. This Agreement shall be construed as if drafted jointly by the parties, and no presumption or burden of proof shall
arise favoring or disfavoring any party by virtue of the authorship of any provisions of this Agreement.

 

6.7.          Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and permitted
assigns. This Agreement, or any rights or obligations hereunder, may not be assigned by the Company (except by merger or in connection
with another entity acquiring all or substantially all of the Company’s assets) without the prior written consent of each
Purchaser. Any Purchaser may assign its rights hereunder in whole or in part to any Person to whom such Purchaser assigns or transfers
any Securities in compliance with the Transaction Documents and applicable law; provided, that such transferee shall agree
in writing to be bound by the terms and conditions of the Transaction Documents and provides written notice of assignment to the
Company promptly after such assignment is effected.

 

6.8.          No Third-Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective
successors and permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other Person.

 

    13

     

    

 

6.9.          Governing Law. All questions concerning the construction, validity, enforcement and interpretation of this Agreement
and any other Transaction Document shall be governed by and construed and enforced in accordance with the internal laws of the
State of New York, without regard to the principles of conflicts of law thereof. Each party agrees that all Proceedings concerning
the interpretations, enforcement and defense of the transactions contemplated by this Agreement and any other Transaction Document
(whether brought against a party hereto or its respective Affiliates, employees or agents) shall be commenced exclusively in the
New York courts. Each party hereto hereby irrevocably submits to the exclusive jurisdiction of the New York courts for the adjudication
of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein (including
with respect to the enforcement of this Agreement and any other Transaction Document), and hereby irrevocably waives, and agrees
not to assert in any Proceeding, any claim that it is not personally subject to the jurisdiction of any such New York court, or
that such Proceeding has been commenced in an improper or inconvenient forum. Each party hereto hereby irrevocably waives personal
service of process and consents to process being served in any such Proceeding by mailing a copy thereof via registered or certified
mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement
and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein
shall be deemed to limit in any way any right to serve process in any manner permitted by law. Each party hereto hereby irrevocably
waives, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising
out of or relating to this Agreement and any other Transaction Document, or the transactions contemplated thereby. If a party
shall commence a Proceeding to enforce any provisions of this Agreement or any other Transaction Document, then the prevailing
party in such Proceeding shall be reimbursed by the other party for its reasonable attorneys’ fees and other costs and expenses
incurred with the investigation, preparation and prosecution of such Proceeding.

 

6.10.       
Survival. The representations, warranties, agreements and covenants contained herein shall survive the Closing Date
for the third Tranche and the delivery of the Securities for a period of one (1) year thereafter, after which time they shall expire
and be of no further force or effect.

 

6.11.       
Execution. This Agreement may be executed in two or more counterparts, all of which when taken together shall be
considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered
to the other party, it being understood that both parties need not sign the same counterpart. In the event that any signature is
delivered by facsimile transmission, such signature shall create a valid and binding obligation of the party executing (or on whose
behalf such signature is executed) with the same force and effect as if such facsimile signature page were an original thereof.

 

6.12.       
Severability. If any provision of this Agreement is held to be invalid or unenforceable in any respect, the validity
and enforceability of the remaining terms and provisions of this Agreement shall not in any way be affected or impaired thereby
and the parties will attempt to agree upon a valid and enforceable provision that is a reasonable substitute therefor, and upon
so agreeing, shall incorporate such substitute provision in this Agreement.

 

    14

     

    

 

6.13.        Replacement of Securities. If any certificate or instrument evidencing any Securities is mutilated, lost, stolen
or destroyed, the Company shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof, or
in lieu of and substitution therefor, a new certificate or instrument, but only upon receipt of evidence reasonably satisfactory
to the Company of such loss, theft or destruction and customary and reasonable indemnity, if requested. The applicants for a new
certificate or instrument under such circumstances shall also pay any reasonable third-party costs associated with the issuance
of such replacement Securities. If a replacement certificate or instrument evidencing any Securities is requested due to a mutilation
thereof, the Company may require delivery of such mutilated certificate or instrument as a condition precedent to any issuance
of a replacement.

 

6.14.       
Remedies. In addition to being entitled to exercise all rights provided herein or granted by law, including recovery
of damages, each of the Purchasers and Company will be entitled to specific performance under this Agreement. The parties agree
that monetary damages may not be adequate compensation for any loss incurred by reason of any breach of obligations described in
the foregoing sentence and hereby agrees to waive in any action for specific performance of any such obligation the defense that
a remedy at law would be adequate.

 

[SIGNATURE PAGES FOLLOW]

 

    15

     

    

 

IN WITNESS WHEREOF,
the parties hereto have caused this Agreement to be duly executed by their respective authorized signatories as of the date first
indicated above.

 

	 	“COMPANY”:
	 	ACCELERATE DIAGNOSTICS, INC.,
	 	a Delaware corporation
	 	 
	 	/s/ Michael Bridge
	 	Name: Michael Bridge
	 	Title: Senior Vice President and General Counsel

 

	 	“PURCHASERS”:
	 	Jack W. Schuler Living Trust
	 	 
	 	/s/ Jack W. Schuler
	 	Name: Jack W. Schuler
	 	Title: President

 

	 	John Patience Trust, dated July 23, 1993
	 	 
	 	/s/ John Patience
	 	Name: John Patience
	 	Title: Trustee

 

	 	Birchview Fund, LLC
	 	 
	 	/s/ Matthew Strobeck
	 	Name: Matthew Strobeck
	 	Title: Managing Partner

 

	 	Mark C. Miller Trust, dated April 26, 2002
	 	 
	 	/s/ Mark C. Miller
	 	Name: Mark C. Miller
	 	Title: Trustee

 

	 	Thomas D. Brown
	 	 
	 	/s/ Thomas D. Brown
	 	Name: Thomas D. Brown

 

	 	John J. Phillips
	 	 
	 	/s/ Jack Phillips
	 	Name: Jack Phillips

 

     

     

    

 

ANNEX I

 

SCHEDULE OF PURCHASERS

 

	Name and Address	 	Investment Amount	 	 	Number of Securities Purchased	 
	Jack W. Schuler Living Trust 
100 N. Field Drive 
Suite 360 
Lake Forest, IL 60045	 	$	30,450,000	 	 	 	3,964,843	 
	John Patience Trust, dated July 23, 1993 
3550 E. Placita De La Raza 
Tucson, AZ 85715	 	$	500,000	 	 	 	65,104	 
	Birchview Fund, LLC 
688 Pine Street 
Suite D 
Burlington, VT	 	$	450,000	 	 	 	58,593	 
	Mark C. Miller Trust, dated April 26, 2002 
1520 Artaius Parkway 
#7350 
Libertyville, IL 60048	 	$	300,000	 	 	 	39,062	 
	Thomas D. Brown 
29890 Tanya Trail 
Libertyville, IL 60048	 	$	200,000	 	 	 	26,041	 
	John J. Phillips
3950 S. Country Club Road 
#470 
Tucson, AZ 85714	 	$	100,000	 	 	 	13,020	 
	Totals:	 	$	32,000,000	 	 	 	4,166,663	 

 

     

     

    

 

EXHIBIT A

 

FORM OF REGISTRATION
RIGHTS AGREEMENT

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