Document:

Exhibit 10.2

 

Execution Version

 

REGISTRATION RIGHTS AGREEMENT

 

REGISTRATION RIGHTS
AGREEMENT (this “Agreement”), dated as of April 23, 2020, by and between AURIS MEDICAL HOLDING LTD.,
an exempted company incorporated under the laws of Bermuda (the “Company”), and LINCOLN PARK CAPITAL
FUND, LLC, an Illinois limited liability company (together with it permitted assigns, the “Buyer”). Capitalized
terms used herein and not otherwise defined herein shall have the respective meanings set forth in the Purchase Agreement by and
between the parties hereto, dated as of the date hereof (as amended, restated, supplemented or otherwise modified from time to
time, the “Purchase Agreement”).

 

WHEREAS:

 

The Company has agreed,
upon the terms and subject to the conditions of the Purchase Agreement, to sell to the Buyer up to Ten Million Dollars ($10,000,000)
of Purchase Shares and to induce the Buyer to enter into the Purchase Agreement, the Company has agreed to provide certain registration
rights under the Securities Act of 1933, as amended, and the rules and regulations thereunder (collectively, the “Securities
Act”), and applicable state securities laws.

 

NOW, THEREFORE,
in consideration of the promises and the mutual covenants contained herein and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the Company and the Buyer hereby agree as follows:

 

1. DEFINITIONS.

 

As used in this Agreement,
the following terms shall have the following meanings:

 

a. “Investor”
means the Buyer, any transferee or assignee thereof to whom a Buyer assigns its rights under this Agreement in accordance with
Section 9 and who agrees to become bound by the provisions of this Agreement, and any transferee or assignee thereof to whom a
transferee or assignee assigns its rights under this Agreement in accordance with Section 9 and who agrees to become bound by the
provisions of this Agreement.

 

b. “Person”
means any individual or entity including but not limited to any corporation, a limited liability company, an association, a partnership,
an organization, a business, an individual, a governmental or political subdivision thereof or a governmental agency.

 

c. “Register,”
“registered,” and “registration” refer to a registration effected by preparing and filing
one or more registration statements of the Company in compliance with the Securities Act and pursuant to Rule 415 under the Securities
Act or any successor rule providing for offering securities on a continuous basis (“Rule 415”), and the declaration
or ordering of effectiveness of such registration statement(s) by the United States Securities and Exchange Commission (the “SEC”).

 

d. “Registrable
Securities” means all of the Purchase Shares that may, from time to time, be issued or become issuable to the Investor
under the Purchase Agreement (without regard to any limitation or restriction on purchases), and any and all Common Shares issued
or issuable with respect to the Purchase Shares or the Purchase Agreement as a result of any stock split, stock dividend, recapitalization,
exchange or similar event or otherwise, without regard to any limitation on purchases under the Purchase Agreement.

 

     

     

    

 

e. “Registration
Statement” means one or more registration statements of the Company covering only the sale of the Registrable Securities.

 

2. REGISTRATION.

 

a. Mandatory Registration.
The Company shall, within ten (10) days after the date hereof, file with the SEC an initial Registration Statement covering the
maximum number of Registrable Securities as shall be permitted to be included thereon in accordance with applicable SEC rules,
regulations and interpretations so as to permit the resale of such Registrable Securities by the Investor under Rule 415 under
the Securities Act at then prevailing market prices (and not fixed prices), as mutually determined by both the Company and the
Investor in consultation with their respective legal counsel, subject to the maximum number of Common Shares the Board of Directors
is authorized to issue out of the Company’s authorized share capital in accordance with the Company’s memorandum of
continuance and bye-laws. The initial Registration Statement shall register only the Registrable Securities. The Investor and its
counsel shall have a reasonable opportunity to review and comment upon such Registration Statement and any amendment or supplement
to such Registration Statement and any related prospectus prior to its filing with the SEC, and the Company shall give due consideration
to all such comments. The Investor shall furnish all information reasonably requested by the Company for inclusion therein. The
Company shall use reasonable best efforts to have the Registration Statement and any amendment declared effective by the SEC at
the earliest possible date after the filing thereof. The Company shall use reasonable best efforts to keep the Registration Statement
effective pursuant to Rule 415 promulgated under the Securities Act and available for the resale by the Investor of all of the
Registrable Securities covered thereby at all times until the date on which the Investor shall have resold all the Registrable
Securities covered thereby and no Available Amount remains under the Purchase Agreement (the “Registration Period”).
The Registration Statement (including any amendments or supplements thereto and prospectuses contained therein) shall not contain
any untrue statement of a material fact or omit to state a material fact required to be stated therein, or necessary to make the
statements therein, in light of the circumstances in which they were made, not misleading.

 

b. Rule 424 Prospectus.
The Company shall, as required by applicable securities regulations, from time to time file with the SEC, pursuant to Rule 424
promulgated under the Securities Act, the prospectus and prospectus supplements, if any, to be used in connection with sales of
the Registrable Securities under the Registration Statement. The Investor and its counsel shall have one (1) Business Day to review
and comment upon such prospectus prior to its filing with the SEC, and the Company shall give due consideration to all such comments;
provided, however, that the Company shall redact from the draft prospectus provided to the Investor for review prior
to filing with the SEC all information, if any, that the Company believes constitutes material non-public information, and the
Company shall not provide the Investor any such information prior to the filing of the applicable prospectus containing and publicly
disclosing all such information with the SEC under the Securities Act and such information could no longer be deemed to constitute
material non-public information.

 

c. Sufficient Number
of Shares Registered. In the event the number of shares available under the Registration Statement is insufficient to cover
all of the Registrable Securities, the Company shall amend the Registration Statement or file a new Registration Statement (a “New
Registration Statement”), so as to cover all of such Registrable Securities (subject to the limitations set forth in
Section 2(a)) as soon as practicable, but in any event not later than ten (10) Business Days after the necessity therefor arises,
subject to any limits that may be imposed by the SEC pursuant to Rule 415 under the Securities Act. The Company shall use its reasonable
best efforts to cause such amendment and/or New Registration Statement to become effective as soon as practicable following the
filing thereof.

 

    2

     

    

 

d. Offering. If
the staff of the SEC (the “Staff”) or the SEC seeks to characterize any offering pursuant to a Registration
Statement filed pursuant to this Agreement as constituting an offering of securities that does not permit such Registration Statement
to become effective and be used for resales by the Investor under Rule 415 at then-prevailing market prices (and not fixed prices),
or if after the filing of the initial Registration Statement with the SEC pursuant to Section 2(a), the Company is otherwise required
by the Staff or the SEC to reduce the number of Registrable Securities included in such initial Registration Statement, then the
Company shall reduce the number of Registrable Securities to be included in such initial Registration Statement (with the prior
consent, which shall not be unreasonably withheld, of the Investor and its legal counsel as to the specific Registrable Securities
to be removed therefrom) until such time as the Staff and the SEC shall so permit such Registration Statement to become effective
and be used as aforesaid. In the event of any reduction in Registrable Securities pursuant to this paragraph, the Company shall
file one or more New Registration Statements in accordance with Section 2(c) until such time as all Registrable Securities have
been included in Registration Statements that have been declared effective and the prospectus contained therein is available for
use by the Investor. Notwithstanding any provision herein or in the Purchase Agreement to the contrary, the Company’s obligations
to register Registrable Securities (and any related conditions to the Investor’s obligations) shall be qualified as necessary
to comport with any requirement of the SEC or the Staff as addressed in this Section 2(d).

 

3. RELATED OBLIGATIONS.

 

With respect to the
Registration Statement and whenever any Registrable Securities are to be registered pursuant to Section 2 including on any New
Registration Statement, the Company shall use its reasonable best efforts to effect the registration of the Registrable Securities
in accordance with this Agreement and, pursuant thereto, the Company shall have the following obligations:

 

a. The Company shall
prepare and file with the SEC such amendments (including post-effective amendments) and supplements to any registration statement
and the prospectus used in connection with such registration statement, which prospectus is to be filed pursuant to Rule 424 promulgated
under the Securities Act, as may be necessary to keep the Registration Statement or any New Registration Statement effective at
all times during the Registration Period, and, during such period, comply with the provisions of the Securities Act with respect
to the disposition of all Registrable Securities of the Company covered by the Registration Statement or any New Registration Statement
until such time as all of such Registrable Securities shall have been disposed of in accordance with the intended methods of disposition
by the Investor as set forth in such registration statement.

 

b. The Company shall
permit the Investor to review and comment upon the Registration Statement or any New Registration Statement at least two (2) Business
Days prior to their filing with the SEC and all amendments and supplements thereto at least one (1) Business Day prior to their
filing with the SEC; provided, however, that the Company shall redact from all drafts thereof provided to the Investor
for review prior to filing with the SEC all information, if any, that the Company believes constitutes material non-public information,
and the Company shall not provide the Investor any such information prior to the filing of the applicable Registration Statement
or New Registration Statement, or amendment or supplement thereto, containing and publicly disclosing all such information with
the SEC under the Securities Act and such information could no longer be deemed to constitute material non-public information.
The Investor shall use its reasonable best efforts to comment upon the Registration Statement or any New Registration Statement
and any amendments or supplements thereto within one (1) Business Day from the date the Investor receives the drafts thereof referred
to above. The Company shall furnish to the Investor, without charge any correspondence from the SEC or the staff of the SEC to
the Company or its representatives relating to the Registration Statement or any New Registration Statement.

 

    3

     

    

 

c. Upon request of the
Investor, the Company shall furnish to the Investor, (i) promptly after the same is prepared and filed with the SEC, at least one
copy of such registration statement and any amendment(s) thereto, including financial statements and schedules, all documents incorporated
therein by reference and all exhibits, (ii) upon the effectiveness of any registration statement, a copy of the prospectus included
in such registration statement and all amendments and supplements thereto (or such other number of copies as the Investor may reasonably
request) and (iii) such other documents, including copies of any preliminary or final prospectus, as the Investor may reasonably
request from time to time in order to facilitate the disposition of the Registrable Securities owned by the Investor. For the avoidance
of doubt, any filing available to the Investor via the SEC’s live EDGAR system shall be deemed “furnished to the Investor”
hereunder.

 

d. The Company shall
use reasonable best efforts to (i) register and qualify the Registrable Securities covered by a registration statement under such
other securities or “blue sky” laws of such jurisdictions in the United States as the Investor reasonably requests,
(ii) prepare and file in those jurisdictions, such amendments (including post-effective amendments) and supplements to such registrations
and qualifications as may be necessary to maintain the effectiveness thereof during the Registration Period, (iii) take such other
actions as may be necessary to maintain such registrations and qualifications in effect at all times during the Registration Period,
and (iv) take all other actions reasonably necessary or advisable to qualify the Registrable Securities for sale in such jurisdictions;
provided, however, that the Company shall not be required in connection therewith or as a condition thereto to (x) qualify to do
business in any jurisdiction where it would not otherwise be required to qualify but for this Section 3(d), (y) subject itself
to general taxation in any such jurisdiction, or (z) file a general consent to service of process in any such jurisdiction. The
Company shall promptly notify the Investor who holds Registrable Securities of the receipt by the Company of any notification with
respect to the suspension of the registration or qualification of any of the Registrable Securities for sale under the securities
or “blue sky” laws of any jurisdiction in the United States or its receipt of actual notice of the initiation or threatening
of any proceeding for such purpose.

 

e. As promptly as practicable
after becoming aware of such event or facts, the Company shall notify the Investor in writing of the happening of any event or
existence of such facts as a result of which the prospectus included in any registration statement, as then in effect, includes
an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the
statements therein, in light of the circumstances under which they were made, not misleading, and promptly prepare a supplement
or amendment to such registration statement to correct such untrue statement or omission, and deliver a copy of such supplement
or amendment to the Investor (or such other number of copies as the Investor may reasonably request); provided, however,
that the Company shall redact from all drafts thereof provided to the Investor for review prior to filing with the SEC all information,
if any, that the Company believes constitutes material non-public information, and the Company shall not provide the Investor any
such information prior to the filing of the applicable amendment or supplement containing and publicly disclosing all such information
with the SEC under the Securities Act and such information could no longer be deemed to constitute material non-public information.
Subject to the proviso in the immediately preceding sentence, the Company shall also promptly notify the Investor in writing (i)
when a prospectus or any prospectus supplement or post-effective amendment has been filed, and when a registration statement or
any post-effective amendment has become effective (notification of such effectiveness shall be delivered to the Investor by email
on the same day of such effectiveness), (ii) of any request by the SEC for amendments or supplements to any registration statement
or related prospectus or related information, and (iii) of the Company’s reasonable determination that a post-effective amendment
to a registration statement is required to be filed.

 

    4

     

    

 

f. The Company shall
use its reasonable best efforts to prevent the issuance of any stop order or other suspension of effectiveness of any registration
statement, or the suspension of the qualification of any Registrable Securities for sale in any jurisdiction and, if such an order
or suspension is issued, to obtain the withdrawal of such order or suspension at the earliest possible moment and to notify the
Investor of the issuance of such order and the resolution thereof or its receipt of actual notice of the initiation or threat of
any proceeding for such purpose.

 

g. The Company shall
(i) cause all the Registrable Securities to be listed on each securities exchange on which securities of the same class or series
issued by the Company are then listed, if any, if the listing of such Registrable Securities is then permitted under the rules
of such exchange, or (ii) secure designation and quotation of all the Registrable Securities on the Principal Market. The Company
shall pay all fees and expenses in connection with satisfying its obligation under this Section.

 

h. The Company shall
cooperate with the Investor to facilitate the timely issuance of the Registrable Securities to be offered pursuant to any Registration
Statement or New Registration Statement as set forth in the Purchase Agreement, it being agreed that all Registrable Securities
to be issued pursuant to the Purchase Agreement shall be issued as DWAC Shares.

 

i. The Company shall
at all times provide a transfer agent and registrar with respect to its Common Shares.

 

j. If reasonably requested
by the Investor, the Company shall (i) as soon as reasonably practicable, incorporate in a prospectus supplement or post-effective
amendment such information as the Investor believes, after consulting with U.S. securities counsel, should be included therein
relating to the sale and distribution of Registrable Securities, including, without limitation, information with respect to the
number of Registrable Securities being sold, the purchase price being paid therefor and any other terms of the offering of the
Registrable Securities; (ii) make all required filings of such prospectus supplement or post-effective amendment as soon as practicable
upon notification of the matters to be incorporated in such prospectus supplement or post-effective amendment; and (iii) supplement
or make amendments to any registration statement.

 

k. The Company shall
use its reasonable best efforts to cause the Registrable Securities covered by any registration statement to be registered with
or approved by such other governmental agencies or authorities as may be necessary to consummate the disposition of such Registrable
Securities.

 

l. Within one (1) Business
Day after any registration statement which includes the Registrable Securities is ordered effective by the SEC, the Company shall
deliver, and shall cause legal counsel for the Company to deliver, to the transfer agent for such Registrable Securities (with
copies to the Investor) confirmation that such registration statement has been declared effective by the SEC. Thereafter, if requested
by the Investor at any time, the Company shall require its counsel to deliver to the Investor a written confirmation whether or
not the effectiveness of such registration statement has lapsed at any time for any reason (including, without limitation, the
issuance of a stop order) and whether or not the registration statement is current and available to the Investor for sale of all
of the Registrable Securities.

 

m. The Company shall
take all other reasonable actions necessary to expedite and facilitate disposition by the Investor of Registrable Securities pursuant
to any registration statement.

 

    5

     

    

 

4. OBLIGATIONS OF
THE INVESTOR.

 

a. The Company shall
notify the Investor in writing of the information the Company reasonably requires from the Investor in connection with any registration
statement hereunder. Within two (2) Business Days after the Company’s request, the Investor shall furnish to the Company
such information regarding itself, the Registrable Securities held by it and the intended method of disposition of the Registrable
Securities held by it as shall be reasonably required to effect the registration of such Registrable Securities and shall execute
such documents in connection with such registration as the Company may reasonably request.

 

b. The Investor agrees
to cooperate with the Company as reasonably requested by the Company in connection with the preparation and filing of any registration
statement hereunder.

 

c. The Investor agrees
that, upon receipt of any notice from the Company of the happening of any event or existence of facts of the kind described in
Section 3(f) or the first sentence of 3(e), the Investor will immediately discontinue disposition of Registrable Securities pursuant
to any registration statement(s) covering such Registrable Securities until the Investor’s receipt of the copies of the supplemented
or amended prospectus contemplated by Section 3(f) or the first sentence of 3(e). Notwithstanding anything to the contrary, the
Company shall cause its transfer agent to promptly deliver Common Shares without any restrictive legend in accordance with the
terms of the Purchase Agreement in connection with any sale of Registrable Securities with respect to which an Investor has entered
into a contract for sale prior to the Investor’s receipt of a notice from the Company of the happening of any event of the
kind described in Section 3(f) or the first sentence of Section 3(e) and for which the Investor has not yet settled.

 

5. EXPENSES OF REGISTRATION.

 

All reasonable expenses,
other than sales or brokerage commissions, incurred in connection with registrations, filings or qualifications pursuant to Sections
2 and 3, including, without limitation, all registration, listing and qualifications fees, printers and accounting fees, and fees
and disbursements of counsel for the Company, shall be paid by the Company.

 

    6

     

    

 

6. INDEMNIFICATION.

 

a. To the fullest extent
permitted by law, the Company will, and hereby does, indemnify, hold harmless and defend the Investor, each Person, if any, who
controls the Investor, the members, the directors, officers, partners, employees, agents, representatives of the Investor and each
Person, if any, who controls the Investor within the meaning of the Securities Act or the Securities Exchange Act of 1934, as amended
(the “Exchange Act”) (each, an “Indemnified Person”), against any losses, claims, damages,
liabilities, judgments, fines, penalties, charges, costs, attorneys’ fees, amounts paid in settlement or expenses, joint
or several, (collectively, “Claims”) incurred in investigating, preparing or defending any action, claim, suit,
inquiry, proceeding, investigation or appeal taken from the foregoing by or before any court or governmental, administrative or
other regulatory agency, body or the SEC, whether pending or threatened, whether or not an indemnified party is or may be a party
thereto (“Indemnified Damages”), to which any of them may become subject insofar as such Claims (or actions
or proceedings, whether commenced or threatened, in respect thereof) arise out of or are based upon: (i) any untrue statement or
alleged untrue statement of a material fact in the Registration Statement, any New Registration Statement or any post-effective
amendment thereto or in any filing made in connection with the qualification of the offering under the securities or other “blue
sky” laws of any jurisdiction in which Registrable Securities are offered (“Blue Sky Filing”), or the
omission or alleged omission to state a material fact required to be stated therein or necessary to make the statements therein
not misleading, (ii) any untrue statement or alleged untrue statement of a material fact contained in the final prospectus (as
amended or supplemented, if the Company files any amendment thereof or supplement thereto with the SEC) or the omission or alleged
omission to state therein any material fact necessary to make the statements made therein, in light of the circumstances under
which the statements therein were made, not misleading, (iii) any violation or alleged violation by the Company of the Securities
Act, the Exchange Act, any other law, including, without limitation, any state securities law, or any rule or regulation thereunder
relating to the offer or sale of the Registrable Securities pursuant to the Registration Statement or any New Registration Statement
or (iv) any material violation by the Company of this Agreement (the matters in the foregoing clauses (i) through (iv) being, collectively,
“Violations”). The Company shall reimburse each Indemnified Person promptly as such expenses are incurred and
are due and payable, for any reasonable legal fees or other reasonable expenses incurred by them in connection with investigating
or defending any such Claim. Notwithstanding anything to the contrary contained herein, the indemnification agreement contained
in this Section 6(a): (i) shall not apply to a Claim by an Indemnified Person arising out of or based upon a Violation which occurs
in reliance upon and in conformity with information about the Investor furnished in writing to the Company by such Indemnified
Person expressly for use in connection with the preparation of the Registration Statement, any New Registration Statement or any
such amendment thereof or supplement thereto, if such prospectus was timely made available by the Company pursuant to Section 3(c)
or Section 3(e); (ii) with respect to any superseded prospectus, shall not inure to the benefit of any such person from whom the
person asserting any such Claim purchased the Registrable Securities that are the subject thereof (or to the benefit of any person
controlling such person) if the untrue statement or omission of material fact contained in the superseded prospectus was corrected
in the revised prospectus, as then amended or supplemented, if such revised prospectus was timely made available by the Company
pursuant to Section 3(c) or Section 3(e), and the Indemnified Person was promptly advised in writing not to use the incorrect prospectus
prior to the use giving rise to a violation and such Indemnified Person, notwithstanding such advice, used it; (iii) shall not
be available to the extent such Claim is based on a failure of the Investor to deliver or to cause to be delivered the prospectus
made available by the Company, if such prospectus was timely made available by the Company pursuant to Section 3(c) or Section
3(e); and (iv) shall not apply to amounts paid in settlement of any Claim if such settlement is effected without the prior written
consent of the Company, which consent shall not be unreasonably withheld. Such indemnity shall remain in full force and effect
regardless of any investigation made by or on behalf of the Indemnified Person and shall survive the transfer of the Registrable
Securities by the Investor pursuant to Section 9.

 

b. In connection with
the Registration Statement or any New Registration Statement, the Investor agrees to indemnify, hold harmless and defend, to the
same extent and in the same manner as is set forth in Section 6(a), the Company, each of its directors, each of its officers who
signs the Registration Statement or any New Registration Statement, each Person, if any, who controls the Company within the meaning
of the Securities Act or the Exchange Act (collectively and together with an Indemnified Person, an “Indemnified Party”),
against any Claim or Indemnified Damages to which any of them may become subject, under the Securities Act, the Exchange Act or
otherwise, insofar as such Claim or Indemnified Damages arise out of or are based upon any Violation, in each case to the extent,
and only to the extent, that such Violation occurs in reliance upon and in conformity with written information about the Investor
set forth on Exhibit A attached hereto and furnished to the Company by the Investor expressly for use in connection with
such registration statement; and, subject to Section 6(d), the Investor will reimburse any legal or other expenses reasonably incurred
by them in connection with investigating or defending any such Claim; provided, however, that the indemnity agreement contained
in this Section 6(b) and the agreement with respect to contribution contained in Section 7 shall not apply to amounts paid in settlement
of any Claim if such settlement is effected without the prior written consent of the Investor, which consent shall not be unreasonably
withheld; provided, further, however, that the Investor shall be liable under this Section 6(b) for only that amount of a Claim
or Indemnified Damages as does not exceed the net proceeds to the Investor as a result of the sale of Registrable Securities pursuant
to such registration statement. Such indemnity shall remain in full force and effect regardless of any investigation made by or
on behalf of such Indemnified Party and shall survive the transfer of the Registrable Securities by the Investor pursuant to Section
9.

 

    7

     

    

 

c. Promptly after receipt
by an Indemnified Person or Indemnified Party under this Section 6 of notice of the commencement of any action or proceeding (including
any governmental action or proceeding) involving a Claim, such Indemnified Person or Indemnified Party shall, if a Claim in respect
thereof is to be made against any indemnifying party under this Section 6, deliver to the indemnifying party a written notice of
the commencement thereof, and the indemnifying party shall have the right to participate in, and, to the extent the indemnifying
party so desires, jointly with any other indemnifying party similarly noticed, to assume control of the defense thereof with counsel
mutually satisfactory to the indemnifying party and the Indemnified Person or the Indemnified Party, as the case may be; provided,
however, that an Indemnified Person or Indemnified Party shall have the right to retain its own counsel with the fees and expenses
to be paid by the indemnifying party, if, in the reasonable opinion of counsel retained by the indemnifying party, the representation
by such counsel of the Indemnified Person or Indemnified Party and the indemnifying party would be inappropriate due to actual
or potential differing interests between such Indemnified Person or Indemnified Party and any other party represented by such counsel
in such proceeding. The Indemnified Party or Indemnified Person shall cooperate fully with the indemnifying party in connection
with any negotiation or defense of any such action or claim by the indemnifying party and shall furnish to the indemnifying party
all information reasonably available to the Indemnified Party or Indemnified Person which relates to such action or claim. The
indemnifying party shall keep the Indemnified Party or Indemnified Person fully apprised at all times as to the status of the defense
or any settlement negotiations with respect thereto. No indemnifying party shall be liable for any settlement of any action, claim
or proceeding effected without its written consent, provided, however, that the indemnifying party shall not unreasonably withhold,
delay or condition its consent. No indemnifying party shall, without the consent of the Indemnified Party or Indemnified Person,
consent to entry of any judgment or enter into any settlement or other compromise which does not include as an unconditional term
thereof the giving by the claimant or plaintiff to such Indemnified Party or Indemnified Person of a release from all liability
in respect to such claim or litigation. Following indemnification as provided for hereunder, the indemnifying party shall be subrogated
to all rights of the Indemnified Party or Indemnified Person with respect to all third parties, firms or corporations relating
to the matter for which indemnification has been made. The failure to deliver written notice to the indemnifying party within a
reasonable time of the commencement of any such action shall not relieve such indemnifying party of any liability to the Indemnified
Person or Indemnified Party under this Section 6, except to the extent that the indemnifying party is prejudiced in its ability
to defend such action.

 

d. The indemnification
required by this Section 6 shall be made by periodic payments of the amount thereof during the course of the investigation or defense,
as and when bills are received or Indemnified Damages are incurred.

 

e. The indemnity agreements
contained herein shall be in addition to (i) any cause of action or similar right of the Indemnified Party or Indemnified Person
against the indemnifying party or others, and (ii) any liabilities the indemnifying party may be subject to pursuant to law.

 

7. CONTRIBUTION.

 

To the extent any indemnification
by an indemnifying party is prohibited or limited by law, the indemnifying party agrees to make the maximum contribution with respect
to any amounts for which it would otherwise be liable under Section 6 to the fullest extent permitted by law; provided, however,
that: (i) no seller of Registrable Securities guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the
Securities Act) shall be entitled to contribution from any seller of Registrable Securities who was not guilty of fraudulent misrepresentation;
and (ii) contribution by any seller of Registrable Securities shall be limited in amount to the net amount of proceeds received
by such seller from the sale of such Registrable Securities.

 

    8

     

    

 

8. REPORTS AND DISCLOSURE
UNDER THE SECURITIES ACTS.

 

With a view to making
available to the Investor the benefits of Rule 144 promulgated under the Securities Act or any other similar rule or regulation
of the SEC that may at any time permit the Investor to sell securities of the Company to the public without registration (“Rule
144”), the Company agrees, at the Company’s sole expense, to:

 

a. make and keep public
information available, as those terms are understood and defined in Rule 144;

 

b. file with the SEC
in a timely manner all reports and other documents required of the Company under the Securities Act and the Exchange Act so long
as the Company remains subject to such requirements and the filing of such reports and other documents is required for the applicable
provisions of Rule 144;

 

c. furnish to the Investor
so long as the Investor owns Registrable Securities, promptly upon request, (i) a written statement by the Company that it has
complied with the reporting and or disclosure provisions of Rule 144, the Securities Act and the Exchange Act, (ii) a copy of the
most recent annual or quarterly report of the Company and such other reports and documents so filed by the Company, and (iii) such
other information as may be reasonably requested to permit the Investor to sell such securities pursuant to Rule 144 without registration;
and

 

d. take such additional action as is requested
by the Investor to enable the Investor to sell the Registrable Securities pursuant to Rule 144, including, without limitation,
delivering all such legal opinions, consents, certificates, resolutions and instructions to the Company’s Transfer Agent
as may be requested from time to time by the Investor and otherwise fully cooperate with Investor and Investor’s broker to
effect such sale of securities pursuant to Rule 144.

 

The Company agrees that damages may be
an inadequate remedy for any breach of the terms and provisions of this Section 8 and that Investor shall, whether or not it is
pursuing any remedies at law, be entitled to equitable relief in the form of a preliminary or permanent injunction, without having
to post any bond or other security, upon any breach or threatened breach of any such terms or provisions.

 

9. ASSIGNMENT
OF REGISTRATION RIGHTS.

 

The Company shall not
assign this Agreement or any rights or obligations hereunder without the prior written consent of the Investor. The Investor may
not assign its rights under this Agreement without the written consent of the Company, other than to an affiliate of the Investor
controlled by Jonathan Cope or Josh Scheinfeld.

 

    9

     

    

 

10. AMENDMENT OF
REGISTRATION RIGHTS.

 

No provision of this
Agreement may be amended or waived by the parties from and after the date that is one (1) Business Day immediately preceding the
initial filing of the Registration Statement with the SEC. Subject to the immediately preceding sentence, no provision of this
Agreement may be (i) amended other than by a written instrument signed by both parties hereto or (ii) waived other than in a written
instrument signed by the party against whom enforcement of such waiver is sought. Failure of any party to exercise any right or
remedy under this Agreement or otherwise, or delay by a party in exercising such right or remedy, shall not operate as a waiver
thereof.

 

11. MISCELLANEOUS.

 

a. A Person is deemed
to be a holder of Registrable Securities whenever such Person owns or is deemed to own of record such Registrable Securities. If
the Company receives conflicting instructions, notices or elections from two or more Persons with respect to the same Registrable
Securities, the Company shall act upon the basis of instructions, notice or election received from the registered owner of such
Registrable Securities.

 

b. Any notices, consents,
waivers or other communications required or permitted to be given under the terms of this Agreement must be in writing and will
be deemed to have been delivered: (i) upon receipt, when delivered personally; (ii) upon receipt, when sent by facsimile or email
(provided confirmation of transmission is mechanically or electronically generated and kept on file by the sending party); or (iii)
one (1) Business Day after deposit with a nationally recognized overnight delivery service, in each case properly addressed to
the party to receive the same. The addresses for such communications shall be:

 

If to the Company:

Auris Medical Holding Ltd.

Clarendon House

2 Church Street

Hamilton HM 11

Bermuda

		Telephone:	(441) 295-5950

		Facsimile:	+41 61 201 13 51

		Attention:	Thomas Meyer, Chairman & CEO

 

With a copy to (which shall not
constitute notice or service of process):

Lowenstein Sandler LLP

1251 Avenue of the Americas

New York, NY 10020

		Telephone	212-262-6700

		Facsimile	212-262-7402

		Email:	awovsaniker@lowenstein.com

		Attention:	Alan Wovsaniker, Esq.

 

If to the Investor:

Lincoln Park Capital Fund, LLC

440 North Wells, Suite 410

Chicago, IL 60654

		Telephone:	312-822-9300

		Facsimile:	312-822-9301

		E-mail:	jscheinfeld@lpcfunds.com/jcope@lpcfunds.com

		Attention:	Josh Scheinfeld/Jonathan Cope

 

    10

     

    

 

With a copy to (which
shall not constitute notice or service of process):

Mintz, Levin,
Cohn, Ferris, Glovsky and Popeo, P.C.

666 Third
Avenue

New York,
NY 10017

		Telephone:	(212) 692-6267

		Facsimile:	(212) 983-3115

		E-mail:	ajmarsico@mintz.com

		Attention:	Anthony J. Marsico, Esq.

 

or at such other address and/or facsimile
number and/or to the attention of such other person as the recipient party has specified by written notice given to each other
party three (3) Business Days prior to the effectiveness of such change. Written confirmation of receipt (A) given by the recipient
of such notice, consent, waiver or other communication, (B) mechanically or electronically generated by the sender’s facsimile
machine or email account containing the time, date, recipient facsimile number or email address, as applicable, or (C) provided
by a nationally recognized overnight delivery service, shall be rebuttable evidence of personal service, receipt by facsimile,
email or receipt from a nationally recognized overnight delivery service in accordance with clause (i), (ii) or (iii) above, respectively.

 

c. This Agreement shall
be governed by and construed in accordance with the internal laws of the State of New York applicable to agreements made and to
be performed in such state. Any legal suit, action or proceeding arising out of or based upon this Agreement or any of the transactions
contemplated hereby (“Related Proceedings”) may be instituted in any of the federal courts of the United States
of America or any of the courts of the State of New York, in each case located in the State of New York, Borough of Manhattan,
in the City of New York, New York (collectively, the “Specified Courts”), and each party irrevocably submits
to the exclusive jurisdiction (except for proceedings instituted in regard to the enforcement of a judgment of any such court (a
“Related Judgment”), as to which such jurisdiction is non-exclusive) of any of the Specified Courts in any such
suit, action or proceeding. Service of any process, summons, notice or document by mail to such party’s address set forth
above shall be effective service of process for any suit, action or other proceeding brought in any of the Specified Courts. The
parties irrevocably and unconditionally waive any objection to the laying of venue of any suit, action or other proceeding in the
Specified Courts and irrevocably and unconditionally waive and agree not to plead or claim in any of the Specified Courts that
any such suit, action or other proceeding brought in any of the Specified Courts has been brought in an inconvenient forum. EACH
PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE
HEREUNDER OR IN CONNECTION HEREWITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY. The Company has
irrevocably appointed Auris Medical Inc., which currently maintains an office at 205 North Michigan Avenue, Suite 810, Chicago
Illinois 60601, United States of America, as its agent to receive service of process or other legal summons for purposes of any
such suit, action or proceeding that may be instituted in any of the Specified Courts.

 

With respect to any
Related Proceeding, each party irrevocably waives, to the fullest extent permitted by applicable law, all immunity (whether on
the basis of sovereignty or otherwise) from jurisdiction, service of process, attachment (both before and after judgment) and execution
to which it might otherwise be entitled in the Specified Courts, and with respect to any Related Judgment, each party waives any
such immunity in the Specified Courts or any other court of competent jurisdiction, and will not raise or claim or cause to be
pleaded any such immunity at or in respect of any such Related Proceeding or Related Judgment, including, without limitation, any
immunity pursuant to the United States Foreign Sovereign Immunities Act of 1976, as amended.

 

    11

     

    

 

The obligations of
the Company pursuant to this Agreement in respect of any sum due to the Investor shall, notwithstanding any judgment in a currency
other than United States dollars, not be discharged until the first business day, following receipt by the Investor of any sum
adjudged to be so due in such other currency, on which the Investor may in accordance with normal banking procedures purchase United
States dollars with such other currency. If the United States dollars so purchased are less than the sum originally due to the
Investor in United States dollars hereunder, the Company agrees as a separate obligation and notwithstanding any such judgment,
to indemnify the Investor against such loss. If the United States dollars so purchased are greater than the sum originally due
to the Investor hereunder, the Investor agrees to pay to the Company an amount equal to the excess of the dollars so purchased
over the sum originally due to the Investor hereunder. Unless otherwise expressly indicated, all dollar amounts referred to in
this Agreement are in United States Dollars (“U.S. Dollars”), and all amounts owing under this Agreement shall
be paid in U.S. Dollars. All amounts denominated in other currencies (if any) shall be converted into the U.S. Dollar equivalent
amount in accordance with the Exchange Rate on the date of calculation.

 

All payments made by
the Company under this Agreement, if any, will be made without withholding or deduction for or on account of any present or future
taxes, duties, assessments or governmental charges of whatever nature (other than taxes on net income) imposed or levied by or
on behalf of Bermuda, any other jurisdiction from or through which payment is made, or, in each case, any political subdivision
or any taxing authority thereof or therein unless the Company is or becomes required by law to withhold or deduct such taxes, duties,
assessments or other governmental charges. In such event, the Company will pay such additional amounts as will result, after such
withholding or deduction, in the receipt by the Investor and each person controlling the Investor, as the case may be, of the amounts
that would otherwise have been receivable in respect thereof.

 

d. This Agreement and
the Purchase Agreement constitute the entire agreement among the parties hereto with respect to the subject matter hereof and thereof.
There are no restrictions, promises, warranties or undertakings, other than those set forth or referred to herein and therein.
This Agreement and the Purchase Agreement supersede all prior agreements and understandings among the parties hereto with respect
to the subject matter hereof and thereof.

 

e. Subject to the requirements
of Section 9, this Agreement shall inure to the benefit of and be binding upon the successors and permitted assigns of each of
the parties hereto.

 

f. The headings in this
Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof.

 

g. This Agreement may
be executed in identical counterparts, each of which shall be deemed an original but all of which shall constitute one and the
same agreement. This Agreement, once executed by a party, may be delivered to the other party hereto by facsimile transmission
or by e-mail in a “.pdf” format data file of a copy of this Agreement bearing the signature of the party so delivering
this Agreement.

 

h. Each party shall do
and perform, or cause to be done and performed, all such further acts and things, and shall execute and deliver all such other
agreements, certificates, instruments and documents, as the other party may reasonably request in order to carry out the intent
and accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby.

 

    12

     

    

 

i. The language used
in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent and no rules of strict
construction will be applied against any party.

 

j. This Agreement is
intended for the benefit of the parties hereto and their respective successors and permitted assigns, and, except as set forth
in Section 6, is not for the benefit of, nor may any provision hereof be enforced by, any other Person.

 

* * * * * *

 

    13

     

    

 

IN WITNESS WHEREOF,
the parties have caused this Registration Rights Agreement to be duly executed as of day and year first above written.

 

	 	THE COMPANY:
	 	 
	 	AURIS MEDICAL HOLDING LTD.
	 	 	 
	 	By:	/s/ Thomas Meyer
	 	Name: Thomas Meyer
	 	Title: Chairman & CEO
	 	 
	 	BUYER:
	 	 
	 	LINCOLN PARK CAPITAL FUND, LLC
	 	BY: LINCOLN PARK CAPITAL, LLC
	 	BY: ROCKLEDGE CAPITAL CORPORATION
	 	 	 
	 	By: 	/s/ Josh Scheinfeld
	 	Name: Josh Scheinfeld
	 	Title: President

 

    14

     

    

 

EXHIBIT A

 

TO REGISTRATION RIGHTS AGREEMENT

 

Information About The Investor Furnished
To The Company By The Investor 

Expressly For Use In Connection With
The Registration Statement

 

Information With Respect to Lincoln
Park Capital

 

As of April 23, 2020, Lincoln Park Capital
Fund, LLC beneficially owned 126,700 of our common shares. Josh Scheinfeld and Jonathan Cope, the Managing Members of Lincoln Park
Capital, LLC, the manager of Lincoln Park Capital Fund, LLC, are deemed to be beneficial owners of all of the common shares owned
by Lincoln Park Capital Fund, LLC. Messrs. Cope and Scheinfeld have shared voting and investment power over the common shares being
offered under the prospectus filed with the SEC in connection with the transactions contemplated under the Purchase Agreement.
Lincoln Park Capital, LLC is not a licensed broker dealer or an affiliate of a licensed broker dealer.Exhibit

Exhibit 10.2

SECOND AMENDMENT TO 
NOTE PURCHASE AGREEMENT
THIS SECOND AMENDMENT TO NOTE PURCHASE AGREEMENT (this “Amendment”), is made and entered into as of March 19, 2020, by and among NewMarket Corporation, a Virginia corporation (the “Company”), The Prudential Insurance Company of America and the other holders of Notes (as defined in the Note Agreement defined below) that are signatories hereto (together with their successors and assigns, the “Noteholders”).
W I T N E S S E T H:
WHEREAS, the Company and the Noteholders are parties to a certain Note Purchase Agreement, dated as of January 4, 2017 (as amended by that certain First Amendment, dated as of October 10, 2017 and as amended, restated, supplemented or otherwise modified from time to time, the “Note Agreement”; capitalized terms used herein and not otherwise defined shall have the meanings assigned to such terms in the Note Agreement), pursuant to which the Noteholders have purchased Notes from the Company; 
WHEREAS, the Company has requested that the Noteholders amend certain provisions of the Note Agreement, and subject to the terms and conditions hereof, the Noteholders are willing to do so; 
NOW, THEREFORE, for good and valuable consideration, the sufficiency and receipt of all of which are acknowledged, the Company and the Noteholders agree as follows:
1.Amendments.  
(a)    The Note Agreement is hereby amended by deleting paragraph 3I in its entirety. 
(b)    Paragraph 5A of the Note Agreement is hereby amended by replacing clause (viii) of such paragraph in its entirety with the following: 
(viii)    promptly following any request therefor, (x) such other information regarding the operations, business affairs and financial condition of the Company or any Subsidiary, or compliance with the terms of this Agreement, as the holder of any Note may reasonably request and (y) information and documentation reasonably requested by the holder of any Note for purposes of compliance with applicable “know your customer” and anti-money laundering rules and regulations, including the Patriot Act and the Beneficial Ownership Regulation.
(c)    Paragraph 5B of the Note Agreement is hereby amended by replacing the last sentence of such paragraph in its entirety with the following: 
Each notice delivered under this paragraph 5B (i) shall be in writing, (ii) shall contain a heading or a reference line that reads “Notice under Paragraph 5B of Prudential Note Purchase Agreement dated as of January 4, 2017” and (iii) shall be accompanied by a statement of a Responsible Officer or other executive officer of 

1

the Company setting forth the details of the event or development requiring such notice and any action taken or proposed to be taken with respect thereto.
(d)    Paragraph 6A of the Note Agreement is hereby amended by replacing each of clauses (iii), (iv) and (vi) of such paragraph in their entirety with the following, respectively: 
(iii)    Indebtedness of any Subsidiary owing to the Company or any other Subsidiary, and Guarantees by any Subsidiary of Indebtedness of another Subsidiary permitted under clause (i), (ii), (iv) or (v) of this paragraph 6A;
(iv)    Indebtedness of any Subsidiary incurred to finance the acquisition, construction or improvement of any fixed or capital assets, including Finance Lease Obligations and any Indebtedness assumed in connection with the acquisition of any such assets or secured by a Lien on any such assets prior to the acquisition thereof, and extensions, renewals and replacements of any such Indebtedness that do not increase the outstanding principal amount thereof (other than for accrued interest, premiums, costs and expenses); provided that (A) such Indebtedness is incurred prior to or within ninety (90) days after such acquisition or the completion of such construction or improvement and (B) the aggregate principal amount of Indebtedness permitted by this clause (iv), when aggregated with the principal amount of similar Indebtedness of the Company, shall not exceed $200,000,000 at any time outstanding;
(vi)    Indebtedness of any Subsidiary; provided that the aggregate outstanding principal amount of Indebtedness permitted by this clause (vi) at any time (excluding Indebtedness of any Subsidiary that has guaranteed the obligations of the Issuer under the Note Documents pursuant to documentation in form and substance reasonably satisfactory to the Required Holders), when aggregated with the Indebtedness of the Company and/or any Subsidiary secured by a Lien under paragraph 6B(vi) at such time, shall not exceed the greater of (x) $325,000,000 and (y) twenty percent (20%) of the Company’s Consolidated Net Tangible Assets; provided, that no Indebtedness of any Subsidiary (other than the Foreign Subsidiary Borrowers) incurred or guaranteed under the Bank Credit Agreement shall be permitted under this clause (vi); and
(e)      Paragraph 6B of the Note Agreement is hereby amended by replacing each of                        the lead-in and clauses (v) and (vi) of such paragraph in their entirety with the following: 
6B. Liens.      The Company will not, and will not permit any Subsidiary to, create, incur, assume or permit to exist any Lien on any property or asset, any income or revenues (including accounts receivable) or rights in respect of any thereof, except:
(v)    Liens on fixed or capital assets acquired, constructed or improved by the Company or any Subsidiary; provided that (A) such security interests secure Indebtedness permitted by clause (iv) of paragraph 6A or similar Indebtedness of the Company, in an aggregate principal amount not to exceed $200,000,000, (B) 

2

such security interests and the Indebtedness secured thereby are incurred prior to or within ninety (90) days after such acquisition or the completion of such construction or improvement, (C) the Indebtedness secured thereby does not exceed the cost of acquiring, constructing or improving such fixed or capital assets and (D) such security interests shall not apply to any other property or assets of the Company or any Subsidiary; 
(vi)    Liens on assets of the Company and its Subsidiaries not otherwise permitted above; provided that the aggregate outstanding principal amount of Indebtedness and other obligations of the Company and its Subsidiaries subject to such Liens permitted by this clause (vi) at any time (when aggregated with the aggregate outstanding principal amount of Indebtedness of Subsidiaries permitted under paragraph 6A(vi) at such time) shall not exceed the greater of (x) $325,000,000 and (y) twenty percent (20%) of the Company’s Consolidated Net Tangible Assets; provided, further, that no Lien permitted under this clause (vi) shall be granted to secure Indebtedness under the Bank Credit Agreement, the Senior 2012 Note Indenture or any other agreement that evidences or governs Indebtedness for borrowed money in an aggregate principal amount that exceeds $50,000,000 unless and until the Notes and any guaranty delivered in connection therewith are secured equally and ratably with such Indebtedness pursuant to documentation reasonably satisfactory to the Required Holders in substance and in form, including, without limitation, an intercreditor agreement and opinions of counsel to the Company and its Subsidiaries from counsel that is reasonably acceptable to the Required Holders (it being understood and agreed that the counsel to the Issuer referred to in paragraph 3A(iii) shall be reasonably satisfactory to the Required Holders to the extent such counsel render opinions of the same type as covered by such counsel in the opinions delivered under paragraph 3A(iii)); and
(f)    Paragraph 6B of the Note Agreement is hereby further amended by adding the following clause (vii) to such paragraph in the appropriate chronological order: 
(vii)    any Lien constituting a precautionary backup security interest in respect of (A) accounts receivable sold, conveyed or otherwise transferred or over which a security interest has been granted in connection with an accounts receivable securitization, supply chain financing, receivables purchase agreement or similar arrangement, (B) all rights and properties associated with such accounts receivable, including all proceeds thereof, (C) all rights arising under any underlying contact or purchase order which gave rise to such accounts receivable, (D) all rights to replevin of the goods sold in the creation of such accounts receivable, (E) any collateral of the underlying account debtors securing such accounts receivable, (F) any deposit accounts established and maintained solely in connection with such accounts receivable used for receipt and collection of such accounts receivable, or (G) all supporting obligations and other rights, assets or properties customarily transferred (or in which security interests are customarily granted); provided, that the aggregate outstanding principal amount of Indebtedness and other obligations of the Company 

3

and its Subsidiaries subject to such Liens permitted by this clause (vii) at any time shall not exceed fifty percent (50%) of the accounts receivable balance of the Company and its Subsidiaries as of the most recently ended fiscal quarter for which financial statements have been delivered pursuant to paragraph 5A(i) or 5A(ii), as applicable. 
(g)    Paragraph 6C of the Note Agreement is hereby amended by replacing clause (ii) of such paragraph in its entirety with the following: 
(ii)    The Company     will not, and will not permit any of its Subsidiaries to, engage to any material extent in any business other than (i) businesses of the type conducted by the Company and its Subsidiaries on the date of execution of this Agreement and businesses ancillary, similar, complementary or synergistic thereto or reasonable extensions, developments or expansions of such businesses and (ii) real estate holding and/or development activities.
(h)    Each of paragraphs 6D, 6F, 6G and 6H of the Note Agreement is hereby amended by replacing each such paragraph in its entirety with the following: 
6D.    Reserved. 
6F.    Reserved. 
6G.    Reserved. 
6H.    Reserved. 
(i)    Paragraph 6E of the Note Agreement is hereby amended by replacing such paragraph in its entirety with the following:     
6E.    Transactions with Affiliates.      The Company will not, and will not permit any of its Subsidiaries to, sell, lease or otherwise transfer any property or assets to, or purchase, lease or otherwise acquire any property or assets from, or otherwise engage in any other transactions with, any of its Affiliates, except (i) in the ordinary course of business at prices and on terms and conditions not less favorable to the Company or such Subsidiary than could be obtained on an arm's-length basis from unrelated third parties and (ii) transactions between or among the Company and its wholly owned Subsidiaries not involving any other Affiliate Notwithstanding the foregoing, transactions with the Charitable Foundations shall in no event be considered to be transactions with an Affiliate.
(j)    Paragraph 6I of the Note Agreement is hereby amended by replacing such paragraph   in its entirety with the following: 
6I.  Financial Covenant – Maximum Leverage Ratio. The Company will not permit the ratio (the “Leverage Ratio”), determined as of the end of each of its fiscal quarters ending on and after March 31, 2020, of (i) Consolidated Total 

4

Indebtedness to (ii) Consolidated EBITDA for the period of four (4) consecutive fiscal quarters ending with the end of such fiscal quarter, all calculated for the Company and its Subsidiaries on a consolidated basis, to be greater than 3.75 to 1.00; provided that, to the extent that an Increased Leverage Period is in effect, then the Leverage Ratio shall not be greater than 4.25 to 1.00; provided further that (x) the Company may not elect to implement an Increased Leverage Period for at least two (2) fiscal quarters following the end of an Increased Leverage Period and (y) the maximum Total Leverage Ratio permitted under this paragraph 6I shall revert to 3.75 to 1.00 as of the end of such Increased Leverage Period and thereafter until another Interest Leverage Period (if any) is elected pursuant to the terms and conditions described in this paragraph 6I.

(k)    Paragraph 6J of the Note Agreement is hereby amended by replacing clause (i) of such paragraph in its entirety with the following: 
 (i) The Company will not, and will not permit its Subsidiaries to, directly or indirectly use the proceeds of the Notes (i) for any purpose which would breach the U.K. Bribery Act 2010, the United States Foreign Corrupt Practices Act of 1977 or other similar legislation in other jurisdictions; (ii) in each case in any manner that will result in any Sanctions Violations, to fund, finance or facilitate any activities, business or transaction of or with any Designated Person or a Person that is owned or controlled by one or more Designated Persons,  or in any Sanctioned Country; (iii) in any other manner that will result in any Sanctions Violations by any party to this Agreement or (iv) in each case, except as could not reasonably be expected to result in a Material Adverse Effect or could not reasonably be expected to result in any Sanctions Violations by, or liability to, any holder of any Notes, for any purpose which would breach Anti-Corruption Laws.
(l)    The Note Agreement is hereby amended by adding the following paragraph 6K in the appropriate chronological order: 
6K.    Most Favored Lender Status    . In the event the Company shall enter into, assume or otherwise become bound by or obligated under any agreement creating, governing or evidencing Indebtedness under a Material Credit Facility containing one or more Additional Covenants or Additional Defaults, the terms of this Agreement shall, without any further action on the part of the Company or any of the holders of the Notes, be deemed to be amended automatically to include each Additional Covenant and each Additional Default contained in such agreement; provided, however, that such deemed amendment to this Agreement shall only remain in effect for as long as such Material Credit Facility remains in effect and contains such Additional Covenants or Additional Defaults; provided that the Company shall give the Required Holders prompt written notice of the termination of any Material Credit Facility or the removal of any Additional Covenant or Additional Default, including a certification that such termination or removal has occurred. The Company further covenants to promptly execute and deliver at its 

5

expense (including the fees and expenses of counsel for the holders of the Notes) an amendment to this Agreement in form and substance satisfactory to the Required Holder(s) evidencing the amendment of this Agreement to include such Additional Covenants and/or Additional Defaults, provided that the execution and delivery of such amendment shall not be a precondition to the effectiveness of such amendment as provided for in this paragraph 6K, but shall merely be for the convenience of the parties hereto.
(m)    Paragraph 7A of the Note Agreement is hereby amended by replacing clause (xi) of such paragraph in its entirety with the following:
(xi)    one or more judgments for the payment of money in an aggregate amount in excess of $75,000,000 (to the extent not covered by an unaffiliated third party insurer that has not denied coverage) shall be rendered against the Company, any Subsidiary or any combination thereof and the same shall remain undischarged for a period of thirty (30) consecutive days during which execution shall not be effectively stayed, or any action shall be legally taken by a judgment creditor to attach or levy upon any assets of the Company or any Subsidiary to enforce any such judgment;
(n)    Paragraph 8D of the Note Agreement is hereby amended by replacing such paragraph in its entirety with the following: 
8D. Financial Condition; No Material Adverse Change.       (i) The Company has heretofore furnished to the Purchasers its consolidated balance sheet and statements of income, stockholders equity and cash flows (A) as of and for the fiscal year ended December 31, 2019 reported on by PricewaterhouseCoopers LLP, independent public accountants. Such financial statements present fairly, in all material respects, the consolidated financial position and results of operations and cash flows of the Company and its consolidated Subsidiaries as of such dates and for such periods in accordance with GAAP.
(ii)    Since December 31, 2019, there has been no material adverse change in the business, assets, operations or financial condition of the Company and its Subsidiaries, taken as a whole.
(o)    Paragraph 8K of the Note Agreement is hereby amended by adding the following sentence to the end of such paragraph: 
As of the Second Amendment Effective Date, to the best knowledge of the Company, the information included in the Beneficial Ownership Certifications provided on or prior to the Second Amendment Effective Date to any holder of the Notes in connection with this Agreement is true and correct in all respects.
(p)    Paragraph 8O of the Note Agreement is hereby amended by replacing such paragraph in its entirety with the following:

6

8O.  Reserved.
(q)    Paragraph 8P of the Note Agreement is hereby amended by replacing clause (i) of such paragraph in its entirety with the following: 
(i) None of the Company or its Subsidiaries or to the knowledge of a Responsible Officer their respective directors, officers, employees, agents or representatives acting or benefiting in any capacity in connection with this Agreement (i) is a Designated Person; (ii) is a Person that is owned or controlled by one or more Designated Persons; (iii) is located, organized or resident in a Sanctioned Country; or (iv) in each case, except as could not reasonably be expected to result in a Material Adverse Effect or could not reasonably be expected to result in any Sanctions Violation by, or liability to, a holder of any Notes, has directly or indirectly engaged in, or is now directly or indirectly engaged in, any dealings or transactions (1) with any Designated Person, (2) in any Sanctioned Country, or (3) otherwise in violation of Sanctions.
(r)    Paragraph 10B of the Note Agreement is hereby amended by the deleting the defined terms “Burdensome Restrictions”, “Capital Lease Obligations”, Consolidated EBIT”, “Interest Coverage Ratio” and “Restricted Payment” in their entirety.
(s)     Paragraph 10B of the Note Agreement is hereby further amended by adding the following defined terms in the appropriate alphabetical order: 
“Additional Covenant” shall mean any financial covenant or negative covenant applicable to the Company contained in any document or instrument creating, governing or evidencing any Material Credit Facility (regardless of whether such provision is labeled or otherwise characterized as a financial covenant or negative covenant) the subject matter of which either (i) is similar to that of any financial covenant or negative covenant contained in this Agreement, or related definitions in paragraph 10 of this Agreement, but contains one or more percentages, amounts or formulas that is more restrictive than those set forth herein or more beneficial to the holder or holders of the Indebtedness created or evidenced by the document in which such covenant or similar restriction is contained (and such covenant or similar restriction shall be deemed an Additional Covenant only to the extent that it is more restrictive or more beneficial) or (ii) is different from the subject matter of any financial covenant or negative covenant contained in this Agreement, or related definitions in paragraph 10 of this Agreement.  
“Additional Default” shall mean any “default” or “event of default” (in each case, whether or not specifically identified as such) contained in any document or instrument creating or evidencing any Material Credit Facility which permits the holder or holders of Indebtedness under such Material Credit Facility to accelerate (with the passage of time or giving of notice or both) the maturity thereof or otherwise requires the Company to purchase such Indebtedness prior to the stated maturity thereof and which either (i) is similar to any Default or Event of Default contained 

7

in paragraph 7 of this Agreement, or related definitions in paragraph 10 of this Agreement, but contains one or more percentages, amounts or formulas that is more restrictive or has a shorter grace period than those set forth herein or is more beneficial to the holders of such other Indebtedness (and such provision shall be deemed an Additional Default only to the extent that it is more restrictive, has a shorter grace period or is more beneficial) or (ii) is different from the subject matter of any Default or Event of Default contained in paragraph 7 of this Agreement, or related definitions in paragraph 10 of this Agreement.
“Beneficial Ownership Certification” means a certification regarding beneficial ownership or control as required by the Beneficial Ownership Regulation.
“Beneficial Ownership Regulation” means 31 C.F.R. § 1010.230.
“Finance Lease Obligations” means, at any time of determination, the amount of the liability in respect of a “finance lease” on the balance sheet of such Person, in accordance with GAAP, including, without limitation, Accounting Standards Codification 842 and related accounting rules and regulations, as such may be amended or re-codified from time to time; provided that in no event shall any lease obligation that is an operating lease in accordance with GAAP be deemed a “Finance Lease Obligation” for purposes of this Agreement.
“Material Credit Facility” means:  
(a)    the Bank Credit Agreement and the Senior 2012 Notes, in each case, including any renewals, extensions, amendments, supplements, restatements, replacements or refinancing thereof; and
(b)    any other agreement(s) creating or evidencing indebtedness for borrowed money entered into on or after the Closing Day by the Company, or in respect of which the Company is an obligor or otherwise provides a guarantee or other credit support (“Credit Facility”), in a principal amount outstanding and/or available for borrowing equal to or greater than $100,000,000 (or the equivalent of such amount in the relevant currency of payment, determined as of the date of the closing of such facility based on the exchange rate of such other currency). 
“Second Amendment Effective Date” means March 19, 2020. 
(t)    Paragraph 10B of the Note Agreement is hereby further amended by replacing the defined terms “Bank Credit Agreement”, “Change of Control”, “Charitable Foundation”, “Consolidated Interest Expense”, “Equity Interests”, “Increased Leverage Period”, “Indebtedness”, “Leverage Ratio”, “Lien”, “Material Acquisition”, “Material Disposition”, “Material Indebtedness”, “Material Subsidiary”, “Responsible Officer”, “Subsidiary” and “Taxes” in their entirety with the following:
“Bank Credit Agreement” means that certain Credit Agreement dated as of March 5, 2020, by and among the Company, certain Subsidiaries of the Company 

8

from time to time party thereto, the lenders from time to time party thereto and JPMorgan Chase Bank, N.A., as the administrative agent, as the same may be further amended, restated, amended and restated, refinanced, supplemented, replaced or otherwise modified from time to time.
“Change in Control” means: (i) any Person or “group” (within the meaning of the Exchange Act and the rules of the SEC thereunder as in effect on the date hereof), other than Bruce C. Gottwald, Floyd D. Gottwald, Jr. or members of their respective families, or investment entities owned entirely (directly or indirectly) by them or members of their respective families, either individually or acting in concert with one or more other persons, shall have acquired beneficial ownership, directly or indirectly, of securities of the Company (or other securities convertible into such securities) representing 25% or more of the combined voting power of all securities of the Company entitled to vote in the election of members of the governing body of the Company, other than securities having such power only by reason of the happening of a contingency; (ii) the occurrence, during any period of 24 consecutive months, of a change in the composition of the governing body of the Company such that a majority of the members of any such governing body are not Continuing Members; (iii) the occurrence of any “Change of Control” or similar event as defined in any agreement or instrument evidencing any Material Indebtedness with an original principal amount in excess of $75,000,000; (iv) the failure at any time of the Company to legally and beneficially own and control 100% of the issued and outstanding shares of capital stock of Ethyl Corporation or Afton Chemical Corporation or the failure at any time of the Company to have the ability to elect all of the governing body of Ethyl Corporation or Afton Chemical Corporation; or (v) the Company ceases to own, directly or indirectly, and Control 100% (other than directors’ qualifying shares) of the ordinary voting and economic power of any Foreign Subsidiary Borrower.
“Charitable Foundations” means (i) The NewMarket Foundation, a non-stock, non-profit Virginia corporation formed by the Company which qualifies as an exempt organization under section 501(c)(3) of the Code which is organized and operated solely for charitable purposes. and (ii) The Whale Foundation, a non-stock, non-profit Virginia corporation formed by the Company which qualifies or will qualify as an exempt organization under section 501(c)(3) of the Code which is organized and operated solely for charitable purposes.
“Consolidated Interest Expense” means, with reference to any period, the interest expense (including without limitation interest expense under Finance Lease Obligations that is treated as interest in accordance with GAAP) of the Company and its Subsidiaries calculated on a consolidated basis for such period with respect to all outstanding Indebtedness of the Company and its Subsidiaries allocable to such period in accordance with GAAP (including, without limitation, all commissions, discounts and other fees and charges owed with respect to letters of 

9

credit and bankers acceptance financing and net costs under interest rate Swap Agreements to the extent such net costs are allocable to such period in accordance with GAAP). In the event that the Company or any Subsidiary shall have completed a Material Acquisition or a Material Disposition since the beginning of the relevant period, Consolidated Interest Expense shall be determined for such period on a Pro Forma Basis as if such acquisition or disposition, and any related incurrence or repayment of Indebtedness, had occurred at the beginning of such period.
“Equity Interests” means shares of capital stock, partnership interests, membership interests in a limited liability company, beneficial interests in a trust or other equity ownership interests in a Person, and any warrants, options or other rights entitling the holder thereof to purchase or acquire any such equity interest, but excluding any debt securities convertible into any of the foregoing.
“Increased Leverage Period” means (i) any fiscal quarter in which (A) the Company or any of its Subsidiaries consummates a Material Acquisition and (B) the Company notifies the holders of the Notes in writing of its intent to increase the maximum permitted Leverage Ratio as a result thereof (such notice, an “Increase Election”) and (ii) the immediately following three fiscal quarters.
“Indebtedness” of any Person means, without duplication, (i) all obligations of such Person for borrowed money or with respect to deposits or advances of any kind, (ii) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, (iii) all obligations of such Person upon which interest charges are customarily paid (other than accounts payable), (iv) all obligations of such Person under conditional sale or other title retention agreements relating to property acquired by such Person, (v) all obligations of such Person in respect of the deferred purchase price of property or services (excluding current accounts payable incurred in the ordinary course of business), (vi) all Indebtedness of others secured by (or for which the holder of such Indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien on property owned or acquired by such Person, whether or not the Indebtedness secured thereby has been assumed, provided that the amount of such Indebtedness shall be deemed to be the lesser of (x) the outstanding principal amount of such Indebtedness plus all accrued and unpaid interest relating thereto and (y) the fair market value of the property secured by any such Lien, (vii) all Guarantees by such Person of Indebtedness of others, (viii) all Finance Lease Obligations of such Person, (ix) all obligations, contingent or otherwise, of such Person as an account party in respect of letters of credit and letters of guaranty, (x) all obligations, contingent or otherwise, of such Person in respect of bankers' acceptances and (xi) all obligations of such Person under Sale and Leaseback Transactions. The Indebtedness of any Person shall include the Indebtedness of any other entity (including any partnership in which such Person is a general partner) to the extent such Person is liable therefor as a result of such Person's ownership interest 

10

in or other relationship with such entity, except to the extent the terms of such Indebtedness provide that such Person is not liable therefor.
“Leverage Ratio” has the meaning assigned to such term in paragraph 6I.
“Lien” means, with respect to any asset, (i) any mortgage, deed of trust, lien, pledge, hypothecation, encumbrance, charge or security interest in, on or of such asset, (ii) the interest of a vendor or a lessor under any conditional sale agreement, finance lease or title retention agreement relating to such asset and (iii) in the case of securities, any purchase option, call or similar right of a third party with respect to such securities.
“Material Acquisition” means any acquisition of property or series of related acquisitions of property that (i) constitutes (A) assets comprising all or substantially all or any significant portion of a business or operating unit of a business, or (B) all or substantially all of the common stock or other Equity Interests of a Person, and (ii) involves the payment of consideration by the Company or any of its Subsidiaries in excess of $100,000,000. 
“Material Disposition” means any sale, transfer or disposition of property or series of related sales, transfers, or dispositions of property that yields gross proceeds to the Company or any of its Subsidiaries in excess of $100,000,000.
“Material Indebtedness” means Indebtedness (other than Indebtedness evidenced by the Notes), or obligations in respect of one or more Swap Agreements, of any one or more of the Company and its Subsidiaries in an aggregate principal amount exceeding $75,000,000. For purposes of determining Material Indebtedness, the “principal amount” of the obligations of the Company or any Subsidiary in respect of any Swap Agreement at any time shall be the maximum aggregate amount (giving effect to any netting agreements) that the Company or such Subsidiary would be required to pay if such Swap Agreement were terminated at such time.
“Material Subsidiary” means each Subsidiary (i) which guarantees Material Indebtedness with an original principal amount in excess of $75,000,000, (ii) which, as of the most recent fiscal quarter of the Company, for the period of four consecutive fiscal quarters then ended, for which financial statements have been delivered pursuant to paragraph 5A, contributed greater than seven and one-half percent (7.5%) of the Company's Consolidated EBITDA for such period or (iii) which contributed greater than seven and one-half percent (7.5%) of the Company's Consolidated Total Assets as of such date.
“Responsible Officer” means any of the president, the chief executive officer, the chief operating officer, a Financial Officer or a vice president of the Issuer or such other representative of the Issuer as may be designated in writing by any one 

11

of the foregoing with the consent of the Required Holders; and, with respect to the financial covenant only, a Financial Officer of the Company.
“Subsidiary” means any subsidiary of the Company. For purposes of this Agreement and the other Note Documents, the Charitable Foundations shall not be considered to be Subsidiaries of the Company.
“Taxes” means any present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), value added taxes, or any other goods and services, use or sale taxes, assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 
(u)    Paragraph 10C of the Note Agreement is hereby amended by replacing the second to last sentence of such paragraph in its entirety with the following:
Notwithstanding any other provision contained herein, all terms of an accounting or financial nature used herein shall be construed, and all computations of amounts and ratios referred to herein shall be made  (i) without giving effect to any election under Accounting Standards Codification 825 (or any other Accounting Standards Codification or Financial Accounting Standard having a similar result or effect) to value any Indebtedness or other liabilities of the Company or any Subsidiary at “fair value”, as defined therein and (ii) without giving effect to any treatment of Indebtedness under Accounting Standards Codification 470-20 or 2015-03 (or any other Accounting Standards Codification or Financial Accounting Standard having a similar result or effect) to value any such Indebtedness in a reduced or bifurcated manner as described therein, and such Indebtedness shall at all times be valued at the full stated principal amount thereof. 
(v)    Paragraph 11B of the Note Agreement is hereby amended by replacing clause (iv) of the third paragraph of such paragraph (prior to the proviso) in its entirety with the following: 
(iv) any actual or prospective claim, litigation, investigation, arbitration or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Issuer or any of the Issuer’s directors, shareholders or creditors, and regardless of whether any Indemnitee is a party thereto;
(w)    The Note Agreement is hereby amended by adding the following paragraph 11Z in the appropriate chronological order: 
11Z.    Divisions.    For all purposes under the Note Documents, in connection with any division or plan of division under Delaware law (or any 

12

comparable event under a different jurisdiction’s laws): (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized and acquired on the first date of its existence by the holders of its Equity Interests at such time.
2.Conditions to Effectiveness of this Amendment. Notwithstanding any other provision of this Amendment and without affecting in any manner the rights of the holders of the Notes hereunder, it is understood and agreed that this Amendment shall not become effective, and the Company shall have no rights under this Amendment, until the Noteholders shall have received (i) executed counterparts to this Amendment from the Company and the Required Holders, (ii) executed counterparts to the Bank Credit Agreement (as defined pursuant to Section 1(t) hereof) from the Company and the other parties thereto, (iii) an amendment fee in the amount of $125,000.00 by wire transfer in immediately available funds, and (iv) reimbursement or payment of its costs and expenses incurred in connection with this Amendment or the Note Agreement (including reasonable charges and disbursements of King & Spalding LLP, counsel to the Noteholders).  
3.Representations and Warranties.  To induce the Noteholders to enter into this Amendment, the Company hereby represents and warrants to the Noteholders that: 
(a)    The execution, delivery and performance by the Company of this Amendment (i) are within the Company’s organizational powers; (ii) have been duly authorized by all necessary organizational actions and, if required, actions by equity holders; (iii) do not violate any applicable law or regulation or the charter, by-laws or other organizational documents of the Company or any of its Subsidiaries or any order of any Governmental Authority; (iv) do not violate or result in a default under any indenture, material agreement or other material instrument binding upon the Company or any of its Subsidiaries or its assets, or give rise to a right thereunder to require any payment to be made by the Company or any of its Subsidiaries; (v) do not result in the creation or imposition of any Lien on any asset of the Company or any of its Subsidiaries; and (vii) do not require any consent or approval of, registration or filing with, or any other action by, any Governmental Authority, except such as have been obtained or made and are in full force and effect;
(b)    This Amendment has been duly executed and delivered for the benefit of or on behalf of the Company and constitutes a legal, valid and binding obligation of the Company, enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors' rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law; 
(c)    Immediately after giving effect to this Amendment, the representations and warranties contained in the Note Agreement and the other Note Documents are true and correct in all material respects (without duplication of any materiality or Material Adverse Effect qualifier) as of the date hereof, unless such representation and warranty relates to an earlier date, in which case such representation and warranty was true and correct in all material respects (without duplication of any materiality or Material Adverse Effect qualifier) as of such earlier date; and

13

(d)    Immediately after giving effect to this Amendment, no Default or Event of Default has occurred and is continuing as of the date hereof.
4.Effect of Amendment.  Except as set forth expressly herein, all terms of the Note Agreement, as amended hereby, and the other Note Documents shall be and remain in full force and effect and shall constitute the legal, valid, binding and enforceable obligations of the Company to all holders of the Notes.  The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of the holders of the Notes under the Note Agreement, nor constitute a waiver of any provision of the Note Agreement.  From and after the date hereof, all references to the Note Agreement shall mean the Note Agreement as modified by this Amendment.  This Amendment shall constitute a Note Document for all purposes of the Note Agreement.
5.Governing Law.   THIS AMENDMENT SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, AND THE RIGHTS OF THE PARTIES SHALL BE GOVERNED BY, THE LAW OF THE STATE OF NEW YORK IN ACCORDANCE WITH THE PROVISIONS OF §5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW.
6.No Novation.  This Amendment is not intended by the parties to be, and shall not be construed to be, a novation of the Note Agreement or an accord and satisfaction in regard thereto.
7.Counterparts.  This Amendment may be executed in any number of counterparts, each of which shall be an original, but all of which together shall constitute one instrument. Signatures delivered by facsimile or PDF shall have the same force and effect as manual signatures delivered in person.
8.Binding Nature.  This Amendment shall be binding upon and inure to the benefit of the parties hereto, any other holders of Notes from time to time and their respective successors, successors-in-titles, and assigns. 
9.Entire Understanding.  This Amendment sets forth the entire understanding of the parties with respect to the matters set forth herein, and shall supersede any prior negotiations or agreements, whether written or oral, with respect thereto.
[Signature page follows]

14

    

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed, under seal in the case of the Company, by its respective authorized officers as of the day and year first above written.
COMPANY:
NEWMARKET CORPORATION

By: ___/s/ Brian D. Paliotti_____________
      Name:  Brian D.  Paliotti
Title:   Vice President and Chief      Financial Officer

                        

                            

[Signature Page to Second Amendment to Note Purchase Agreement]

NOTEHOLDERS:
THE PRUDENTIAL INSURANCE COMPANY
  OF AMERICA

By:  __/s/ Kyle W. Ulep_______________________
Vice President

THE GIBRALTAR LIFE INSURANCE CO.,
  LTD.

By:    Prudential Investment Management Japan
Co., Ltd., as Investment Manager

By:    PGIM, Inc.,
as Sub-Adviser

By:  __/s/ Kyle W. Ulep_____________________
Vice President

THE PRUDENTIAL LIFE INSURANCE
  COMPANY, LTD.

		
	By:
	Prudential Investment Management Japan Co., Ltd., as Investment Manager

By:    PGIM, Inc.,
as Sub-Adviser

By:  __/s/ Kyle W. Ulep__________________
Vice President

[Signature Page to Second Amendment to Note Purchase Agreement]

    

THE LINCOLN NATIONAL LIFE INSURANCE
  COMPANY

By:    Prudential Private Placement Investors,
L.P. (as Investment Advisor)

By:    Prudential Private Placement Investors, Inc.
(as its General Partner)

By:  _/s/ Kyle W. Ulep_______________________
Vice President

[Signature Page to Second Amendment to Note Purchase Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00308-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00308-of-00352.parquet"}]]