Document:

Exhibit

Exhibit 10.36

EMPLOYMENT AGREEMENT

THIS EMPLOYMENT AGREEMENT (the “Agreement”), effective this 4th day of January 2016 (the “Effective Date”), is entered into by and between The KEYW Corporation, a Maryland corporation with its principal place of business at 7740 Milestone Parkway, Suite 150, Hanover, Maryland 21076 (the “Company”), and Michele Cook, residing at 1200 William Street, Fredericksburg, Virginia 22401 (the “Employee”).

WHEREAS, the Company desires to retain the Employee’s services as provided herein, and the Employee desires to be employed by the Company.  As used herein, the term “KEYW” shall include the Company and all entities now or hereafter controlling, controlled by or under common control with the Company, such term to include The KEYW Holding Corporation, a Maryland corporation (“HoldCo”).

NOW THEREFORE, in consideration of the mutual covenants and promises contained herein the receipt and sufficiency of which are hereby acknowledged by the parties hereto, the parties agree as follows:

1.         Term of Employment.  The Company hereby agrees to employ the Employee, and the Employee hereby accepts employment with the Company, upon the terms set forth in this Agreement, unless employment is terminated in accordance with the provisions of Section 3, commencing on January 18, 2016 (the “Commencement Date”).

2.    Title; Capacity; Compensation.

2.1     The Employee will serve as the Executive Vice President, Business Development of the Company starting on the Commencement Date and continuing until this Agreement is terminated in accordance with Section 3, with such customary duties and responsibilities associated with such title, and such other duties commensurate with such title as may, from time to time, be designated by the Board of Directors of HoldCo.

(a)       Compensation.   In exchange for such performance, the Company agrees to pay the Employee a base salary of Three Hundred Thousand Dollars ($300,000.00) per year, which shall be paid in accordance with the customary payroll practices of the Company, which may be adjusted by the Board of Directors of HoldCo from time to time. Payments of base salary will begin with the Company’s first payroll cycle following the Commencement Date. The Employee shall be eligible to receive an annual bonus of up to fifty percent (50%) of the Employee’s annual base salary if the Board determines that the Employee achieved the performance targets and other criteria set in the Annual Incentive Plan (“AIP”). The target bonus pursuant to the AIP may be adjusted by the Board of Directors of HoldCo from time to time. The Employee shall also be eligible for other benefits provided to employees of the Company, including but not limited to, personal time off (accrued at the rate of twenty-five (25) days per year), health insurance and officers and directors liability insurance pursuant to the terms of the applicable  benefit  plans  or  arrangements. In addition, the Company shall reimburse the Employee for all reasonable, ordinary and necessary business, travel or other expenses incurred by her in the performance of her services hereunder in accordance with the policies of the
Company as they are from time to time in effect.

(b)       Long-Term  Incentive.    If  at  any  time  prior  to  the  fifth  (5th) anniversary of the Commencement Date, the closing market price of HoldCo’s registered common stock as reported on the NASDAQ Global Market (or any other market or exchange on which shares of HoldCo’s common stock are listed or registered, if not on the NASDAQ Global Market) over any thirty (30) consecutive trading 

days is at or greater than the target price set forth in this Section 2.1(b)(ii) (the “Target Price Per Share”) for each day in such thirty (30)- consecutive trading day period, the Company will award the Employee shares of Stock (as defined in Exhibit A) in an amount equal to the sum of (A) the number of shares listed next to the Target Price Per Share and (B) the number of shares listed next to any lower Target Price Per Share (“Long-Term Incentive Shares”)  that have not already been awarded.   Once the Long- Term Incentive Shares applicable to a Target Price Per Share have been awarded, the Company shall make no future awards of Long-Term Incentive Shares with respect to the applicable Target Price(s) Per Share, but the Employee shall be eligible for one or more additional grants with respect to the remaining Target Price Per Share that were not previously achieved or exceeded. In no event will the Employee receive more than 100,000 Long-Term Incentive Shares.

	
		
	Target Price Per Share
	Long-Term Incentive Shares Rights

	$13.00
	12,500

	$16.00
	12,500

	$20.00
	25,000

	$25.00
	25,000

	$30.00
	25,000

For  purposes  of  clarity  and  by  way  of  example,  if  the  closing  market  price  of  HoldCo’s registered common stock is reported at $20.00 for thirty (30) consecutive trading days, the Company shall award the Employee 50,000 Long-Term Incentive Shares (25,000 next to the $20
Target Price Per Share plus another 25,000 for the Target Price Per Share for $13 and $16).  If prior to the fifth (5th) anniversary of the Commencement Date, the closing market price of HoldCo’s registered common stock is reported at $30.00 for thirty (30) consecutive trading days, the Company shall award the Employee an additional 50,000 shares (25,000 for $30 and 25,000 for $25).  Because the Employee previously received Long-Term Incentive Shares with respect to the $13, $16 and $20 Target Price Per Share, she is not entitled to a second award with respect to such amounts.

(c)       Except as provided in Exhibit A with respect to any Long-Term Shares used to cover tax withholdings, Employee hereby irrevocably agrees not to, directly or indirectly, (i) sell, offer for sale, pledge or otherwise dispose of (except as otherwise provided herein) any Long-Term Incentive Shares issued to the Employee hereunder, or (ii) enter into any swap or other derivative transaction that transfers to another, in whole or in part, any of the economic benefits or risks of ownership of the Long-Term Incentive Shares, whether any such transaction described in clauses (i) or (ii) above is to be settled by delivery of common stock or other securities, in cash or otherwise (such restrictions in clauses (i) and (ii), the “Sale Restrictions”).  Long-Term Incentive Shares shall be released from, and no longer subject to, the Sale Restrictions on the first day after the second anniversary of the Grant Date (as defined in Exhibit A) of such shares.  Notwithstanding the foregoing, Long-Term Incentive Shares shall be released from, and no longer subject to, the Sale Restrictions immediately upon the Employee’s death after the Grant Date.

(d)      In all events, the holding and disposition of any shares of Stock acquired hereunder shall be subject to the provisions in Exhibit A hereof, any applicable policies of the Company, and the terms of applicable law.

(e)       Employee  shall  forfeit  her  right  to  any  Long-Term  Incentive Shares if she terminates this Agreement with or without Good Reason at any time prior to the second anniversary of the Commencement Date.

2.2       Clawback.  Notwithstanding any other provisions in this Agreement, any performance-

based compensation paid or payable to the Employee pursuant to this Agreement or any other agreement or arrangement with the Company that is subject to recovery under any law, government  regulation,  order,  or  stock  exchange  listing  requirement,  will  be  subject  to adjustment and recovery by the Company.

(a)       If the financial statements of KEYW are restated for any reason other than for accounting changes that require retrospective treatment or other external reasons not attributable to KEYW and its compilation of the financial statements, any performance-based compensation paid to the Employee that was calculated based on the financial statements will be recalculated based on the restated financial statements (“Restatement”).   If the performance- based  compensation  is  reduced  as  a  result  of  the  Restatement,  Employee  shall  repay  the Company the difference between the amount of performance-based compensation actually paid and the recalculated performance-based compensation that the Employee should have been paid. If the performance-based compensation is increased as a result of Restatement, the Company will pay the Employee the difference between the amount of performance-based compensation actually paid and the recalculated performance-based compensation that the Employee should have been paid.

(b)      If the Employee received equity awards (excluding Long-Term Incentive Shares) as performance-based compensation and the Employee continues to own the shares on the date of Restatement, Employee shall return to the Company any shares issued in excess of the amount that the Employee should have received, as recalculated in the Restatement. If the excess shares have already been disposed of at the time of the Restatement, Employee shall return the proceeds from the sale of the excess shares to the Company.  If the excess shares have been gifted or otherwise transferred, Employee shall return to the Company a number of shares equal to the excess shares or the equivalent fair market value of the excess shares at the time of gifting or transfer.  If a Restatement reveals that an Employee should have received an equity award (excluding Long-Term Incentive Shares) as performance-based compensation, the Company shall issue the number of shares that the Employee should have received based on the Restatement.

(c)       Except   as   otherwise   required   under    any   law,   government regulation, order, or stock exchange listing requirement, the adjustment period under this Section 2.2 shall extend for three (3) years from the date of receipt of any performance-based compensation.  This Section 2.2 shall survive termination of this Agreement for a period of two (2) years, except that this Section 2.2 shall terminate immediately upon a Change of Control, as defined by Section 4.3(b) of this Agreement or the cessation of the KEYW as a publicly-traded corporation.

(d)    Employee authorizes the Company to withhold from her future wages any amounts that may become due under this Section 2.2.

3.    Termination of Employment.  The employment of the Employee by the Company shall terminate upon the occurrence of any of the following:

3.1    By the Company without Cause (as defined below), on sixty (60) days’
prior written notice to the Employee;

3.2       At   the   election   of   the   Company,   for   Cause   (as   defined   below), immediately upon written notice by the Company to the Employee, which notice shall identify the Cause upon which the termination is based.  For the purposes of this Agreement, “Cause” shall mean (a) a good faith finding by the Company, that (i) the Employee has failed to perform her reasonably assigned duties in any material respect and has failed to remedy such failure within ten (10) days following written notice from the Company to the Employee notifying her of such failure, or (ii) the Employee has engaged in dishonesty, gross 

negligence or misconduct; (b) the conviction of the Employee of, or the entry of a pleading of guilty or nolo contendere by the Employee to any crime involving any felony; (c) the Employee has breached fiduciary duties owed to KEYW or has materially breached the terms of this Agreement or any other agreement between the Employee and KEYW; or (d) the failure of the Employee to maintain her security clearance as a result, directly or indirectly, of any act or omission by Employee if such clearance is necessary to perform the duties assigned hereunder;

3.3       At the election of the Employee, on sixty (60) days’ prior written notice to the Company, or immediately upon written notice to the Company in the event the Company fails to remedy any material breach of this Agreement within ten (10) days following written notice from the Employee to the Company notifying it of such breach;

3.4       Upon the death or disability of the Employee.  As used in this Agreement, the term “disability” shall mean “disability” as defined under the Company’s or HoldCo’s long- term disability plan for purposes of determining a participant’s eligibility for benefits.  The determination of whether the Employee has a disability shall be made by the person or persons required to make a disability determination under the long-term disability plan.  If at any time neither the Company nor HoldCo sponsor a long-term disability plan, disability shall mean the inability of the Employee, due to a physical or mental disability, for a period of ninety (90) days, whether or not consecutive, during any 360-day period to perform with or without reasonable accommodation the essential functions of her position contemplated under this Agreement as determined by a physician satisfactory to both the Employee (or her representative, guardian or conservator) and the Company, provided that if the Employee (or her representative, guardian or conservator) and the Company do not agree on a physician, the Employee (or her representative, guardian or conservator) and the Company shall each select a physician and these two together shall select a third physician, whose determination as to disability shall be binding on all parties;
or

3.5    Upon the mutual written agreement of the Employee and the Company to
terminate Employee’s employment.

4.    Effect of Termination.

4.1      Termination for Cause, Upon Mutual Election or at the Election of the Employee, or at Death.  In the event that Employee’s employment is terminated for Cause, upon Employee’s death, at the election of the Employee, or upon mutual election by Employee and the Company, KEYW shall have no further obligations under this Agreement other than to pay to Employee (or her estate) salary and accrued but unused paid time off through the last day of the Employee’s actual employment by the Company (the “Termination Date”).

4.2       Termination by the Company without Cause, or for Disability or by the Employee for Good Reason.  In the event the Employee’s employment is terminated solely by the Company without Cause, or due to the Employee’s disability, or by the Employee for Good Reason (as defined below), the Company shall: (i) pay to the Employee on the first pay date following the Termination Date any salary earned with respect to services performed prior to the Termination Date, any paid time off accrued, but unused, through the Termination Date, and any bonus that the Employee earned under the terms of the AIP with respect to an annual period ending prior to the Termination Date, and for which any performance targets or other criteria were achieved prior to the Termination Date (notwithstanding any requirement of continuous service), but which have not been paid to the Employee; (ii) provided the Employee (or her representative, guardian or conservator on behalf of Employee) executes and does not revoke a waiver and release agreement substantially in the form attached hereto as Exhibit B (the “Release”), unless the payment 

is subject to the Delay Period described in Section 8.3, pay to the Employee  in  equal  installments  over  a  period  of  one  year  after  the  Termination  Date  an aggregate amount equal to the sum of (A) and (B) where (A) equals the product of (x) her then current base salary multiplied by (y) .50, and (B) equals an amount equal to the product of (x) one half of her then current base salary multiplied by (y) a fraction, the numerator of which is the number of days that have elapsed between the first day of the calendar year in which the Termination Date occurs and the Termination Date and the denominator of which is 365, with
the first payment, which will cover the first two installments, to be paid on the sixtieth (60th) day following the Termination Date and the remaining installments to be paid in accordance with the Company’s normal payroll practices; and (iii) provided the Employee elects continued health coverage under section 4980B(f) of the Code (“COBRA”), for each month that the Employee pays to the Company 100% of the applicable premium (as defined within section 4980B(f)(4) of the Code) for such continued health and dental coverage, the Company shall reimburse the Employee, for a period equal to the lesser of the maximum COBRA period or six months, on the first pay date of each month the Employee portion of applicable premium; and (iv) make such other payments as expressly provided herein or in any written policy of the Company. Notwithstanding the foregoing, the Company shall not be required to make payments or reimbursements under this Section 4.2 if the Employee has breached any of the provisions of Sections 5 or 6, inclusive of all subsections. Further, subject  to  any overriding laws,  the Company shall not be required to reimburse  healthcare or dental insurance premiums if Employee is actually covered or becomes covered by an equivalent benefit (at the same or lesser cost to Employee, if any) from another source, which must be reported to the Company within thirty (30) days of first becoming eligible, or if such reimbursement arrangement causes the Company’s group health plan to fail any non-discrimination testing or to be subjected to a fine or penalty under the Affordable Care Act.   If Employee (or her representative, guardian or conservator on behalf of Employee) fails to execute and deliver the Release within twenty-one (21) days thereafter, or if Employee (or her representative, guardian or conservator on behalf of Employee) revokes such Release as provided therein, the Company shall have no obligation to provide the severance payment described above.  In any case in which the Release (and the expiration of any revocation rights provided therein) could only become effective in a particular tax year of Employee, any payment(s) conditioned on execution of the release shall be made within ten (10) days after the Release becomes effective and such revocation rights have lapsed. In any case in which the Release (and the expiration of any revocation rights provided therein) could become effective in one of two (2) of the Employee’s taxable years, depending on when the Employee (or her representative, guardian or conservator on behalf of Employee) executes and delivers the Release, any payment conditioned on execution of the Release shall be made in the later taxable year.

4.3       Termination On or Following a Change of Control.  If at any time prior to the one-year anniversary of the consummation of a Change of Control, the Company terminates the Employee’s employment without Cause or the Employee terminates her employment with the Company for Good Reason (as defined below), the Employee will be entitled to receive: (i) the Employee’s then current base salary for a period of six months payable in equal installments paid in accordance with the Company’s normal payroll practices, with the first installment beginning on the first regular pay date following the Employee’s Termination Date; (ii) compensation and benefits set forth in Sections 4.2(i), and 4.2(iv), and (iii) to the extent not included in the compensation and severance benefits made under Section 4.2(i), an amount equal to the maximum AIP bonus available to Employee for the year in which the termination occurs. In addition, provided the Employee elects continued health coverage under section 4980B(f) of the Code, for each month that the Employee pays to the Company 100% of the applicable premium (as defined within section 4980B(f)(4) of the Code) for such continued health and dental coverage, the Company shall reimburse the Employee, for a period equal to the lesser of the maximum COBRA period or six months, on the first pay date of each month the after-tax cost of the applicable premium.  Further, subject to any overriding laws, the Company shall not be required to reimburse healthcare and dental insurance premiums if Employee is 

actually covered or becomes covered by an equivalent benefit (at the same or lesser cost to Employee, if any) from another source, which must be reported to the Company within thirty (30) days of first becoming eligible, or if such reimbursement arrangement causes the Company’s group health plan to fail any non-discrimination testing or to be subjected to a fine or penalty under the Affordable  Care  Act.    Stock  options  will  remain  exercisable  for  a  period  of  one  (1)  year following termination (unless such options have terminated or been cashed out in connection with the Change of Control), and any outstanding equity awards shall vest immediately upon the Change of Control (with effect immediately prior to the scheduled consummation of the Change of Control).

(a)    In the event that it is determined that any payment or distribution of any type to or for the benefit of the Employee made by the Company, by any of its affiliates, by any person who acquires ownership or effective control or ownership of a substantial portion of the Company’s assets (within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended, and the regulations thereunder (the “Code”)) or by any affiliate of such person, whether paid or payable or distributed or distributable pursuant to the terms of an employment agreement (and the attached Exhibit A) or otherwise (the “Total Payments”), such that the Total Payments would be subject to the excise tax imposed by Section 4999 of the Code or any interest or penalties with respect to such excise tax (such excise tax, together with any such interest or penalties, are collectively referred to as the “Excise Tax”) then (i) if the Total Payments exceed the safe harbor threshold by less than 10%, the payments will be reduced to the safe harbor amount or (ii) if the Total Payments exceed the safe harbor threshold by more than 10%, then Employee shall be entitled to receive the “Best Net” for the Employee’s aggregate severance payments and benefits such that aggregate severance payments and benefits that Employee receives will be either (A) the full amount of severance payments and benefits or (B) an amount of severance payments and benefits reduced to the extent necessary so that Employee incurs no excise tax, whichever results in Employee receiving the greater amount, taking into account applicable federal, state, and local income, employment, and other applicable taxes, as well as the excise tax.

(b)       For the purposes of this Agreement, “Change of Control” means the occurrence of any of (i) an acquisition after the Commencement Date by an individual or legal entity or “group” (as described in Rule 13d-5(b)(1) promulgated under the Securities Exchange Act of 1934, as amended) of in excess of 50% of the voting securities of the Company or HoldCo, (ii) the dissolution or liquidation of the Company or HoldCo or a merger, consolidation, or reorganization of the Company or HoldCo with one or more other entities in which  neither  the  Company  nor  HoldCo  is  the  surviving  entity,  unless  the  holders  of  the Company or HoldCo’s voting securities immediately prior to such transaction continue to hold at least 51% of such securities following such transaction, (iii) the sale of all or substantially all of the assets of the Company and/or HoldCo in one or a series of related transactions, or (iv) the “completion” or closing by the Company or HoldCo of an agreement to which the Company or HoldCo is a party or by which it is bound, providing for any of the events set forth above in clauses (i), (ii) or (iii).   In the event that any payment triggered upon a Change of Control is deferred compensation subject to section 409A of the Code, any Change of Control must satisfy the requirements of Treasury regulation section 1.409A-3(i)(5).

(c)      For purposes of this Agreement, “Good Reason” means, unless otherwise agreed to in writing by Employee, (i) a reduction in Employee’s base salary; (ii) a material diminution in Employee’s authority, responsibilities or duties; (iii) a relocation of Employee’s primary place of employment to a location more than twenty (20) miles farther from Employee’s primary residence than the current location of the Company’s offices; or (iv) any other material breach by the Company of the terms of this Agreement or any other agreement between the Employee and the Company.   In order to invoke a termination for Good Reason, Employee must deliver a written notice of such breach to the Company within 

sixty (60) days of the occurrence of the breach, and the Company shall have thirty (30) days to cure the breach (unless such breach is not capable of being cured, in which case this Agreement will terminate fifteen (15) days after notice thereof).  In order to terminate her employment, if at all, for Good Reason, Employee must terminate employment within thirty (30) days of the end of the cure period, if applicable, if the breach has not been cured.

4.4       No Mitigation.  The Company agrees that, if the Employee’s employment is terminated during the term of this Agreement, the Employee is not required to seek other employment or to attempt in any way to reduce any amounts payable to the Employee by the Company.  Further, the amount of any payment provided hereunder shall not be reduced by any compensation earned by the Employee from any other sources.

4.5      Survival.  The provisions of Sections 4, 5, 6, 8, and 9 shall survive the termination of this Agreement.

5.    Non-Competition and Non-Solicitation.

5.1       Restricted  Activities.     Beginning  on  the  Commencement  Date  and continuing for one (1) year following termination of employment with KEYW, Employee shall not, directly or indirectly, on her own behalf or as an individual proprietor, partner, stockholder, owner, officer, employee, director, consultant, agent, joint venturer, investor, lender, or in any other  capacity  whatsoever  (other  than  through  investments  of  Employee  in  the  stock  of  a publicly-held company where such investment does not exceed three percent (3%) of the total outstanding stock (“Permitted Investments”)) do any of the following:

(a)      In any state, province or similar political subdivision, in which KEYW provides services or to which KEYW’s products are delivered during the term of Employee’s  employment  with  KEYW,  offer  to  provide  or  provide  to  any  Customer  or Prospective Customer products or services which compete with the products and services offered by KEYW;

(b)       Interfere with or disrupt, or attempt to interfere with or disrupt, the relationship of KEYW with any Customer, vendor, supplier, prime contractor, subcontractor or partner;

(c)      Solicit, offer to hire or hire any current or former employee, consultant, contractor or agent of KEYW (each a “Restricted Person”), or otherwise induce any Restricted Person to discontinue their employment or business relationship with KEYW; or

(d)      Solicit or divert, or attempt to solicit or divert, the business or patronage  (with  respect  to  products  or  services  of  the  kind  or  type  developed,  produced, marketed, furnished, or sold by KEYW) of any Customer or Prospective Customer of KEYW.

The foregoing restriction in Section 5.1(c) shall not apply to: (i) any Restricted Person whose employment or business relationship was terminated without cause by KEYW, (ii) any Restricted Person whose employment or business relationship was terminated more than twelve (12) months prior to the date of hire of such person by Employee, or (iii) any solicitation, offer  to  hire  or  hiring  of  a  Restricted  Person  pursuant  to  any  general  advertisement  not specifically directed to such Restricted Person.

For purposes of this Section 5.1, the term “Customer” shall mean any person, firm, organization, entity, state or local government or governmental division, department or agency of the United States Government to which KEYW provided products or services at any time during the Employee’s employment with KEYW.

For purposes of this Section 5.1, the term “Prospective Customer” shall mean any person, firm, organization, entity, government or governmental division, department or agency which has an outstanding bid or proposal from KEYW, or which was contacted by an employee of KEYW for purposes of soliciting business concerning products or services offered by KEYW, during the six (6) months preceding termination of the Employee’s employment with KEYW.

For purposes of this Section 5.1, the term “KEYW” shall mean (i) during the Employee’s employment, those affiliated entities as described in the recitals to this Agreement that comprise KEYW at any time during the Employee’s employment, and (ii) upon any termination of employment, those affiliated entities as described in the recitals to this Agreement that comprise KEYW as of the Employee’s Termination Date.

5.2       External Employment. During the period of Employee’s employment with KEYW, Employee shall be prohibited from engaging in external employment without express permission from KEYW.   By way of example, and not limitation, such external employment shall include self-employment, consulting, and engagement by firms conducting business unrelated to the business of KEYW.

5.3       Interpretation. If any restriction set forth in this Section 5 is found by any court of competent jurisdiction to be unenforceable because it extends for too long a period of time or over too  great  a range of activities or in too broad  a geographic area, it shall be interpreted to extend only over the maximum period of time, range of activities or geographic area as to which it may be enforceable.

6.    Proprietary Information and Developments.

6.1    Proprietary Information.

(a)       The  Employee  agrees  that  all  information,  whether  or  not  in writing, of a private, secret or confidential nature concerning KEYW’s business, business relationships or financial affairs (collectively, “Proprietary Information”) is and shall be the exclusive property of KEYW.  By way of illustration, but not limitation, Proprietary Information may include inventions, products, processes, methods, techniques, formulas, compositions, compounds, projects, developments, plans, research data, clinical data, financial data, personnel data, hardware, software and related designs, product costs, specifications and pricing, bid practices  and  procedures,  contract  costs  and  pricing,  the terms  and  conditions  of any joint venture, strategic partnership and other contractual arrangements, customer and supplier lists, and contacts at or knowledge of customers or prospective customers of KEYW.  The Employee will not disclose any Proprietary Information to any person or entity other than employees of KEYW or use the same for any purposes (other than in the performance of her duties as an employee of KEYW) without written approval by an officer of the Company, either during or after her employment with the Company, unless and until such Proprietary Information has become public knowledge without fault by the Employee.

(b)      The Employee agrees that all files, letters, memoranda, reports, records, data, sketches, drawings, laboratory notebooks, program listings, or other written, photographic, or other tangible material containing Proprietary Information, whether created by the Employee or others, which shall come into her custody or possession, shall be and are the exclusive property of KEYW to be used by the Employee only in the performance of her duties for KEYW.  All such materials or copies thereof and all tangible property of KEYW in the custody or possession of the Employee shall be delivered to the Company, upon the earlier of (i) a  request  by  KEYW  or  (ii) termination  of  her  employment. After  such  delivery,  the Employee shall not retain any such materials or copies thereof or any such tangible property.

(c)       The Employee agrees that her obligation not to disclose or to use information  and  materials  of  the  types  set  forth  in  paragraphs (a)  and  (b)  above,  and  her obligation to return materials and tangible property, set forth in paragraph (b) above, also extends to such types of information, materials and tangible property of customers of KEYW or suppliers to KEYW or other third parties who may have disclosed or entrusted the same to KEYW or to the Employee.

6.2    Developments.

(a)       The  Employee  will  make  full  and  prompt  disclosure  to  the Company of all inventions, improvements, discoveries, methods, processes, developments, software, and works of authorship, whether copyrightable, patentable or not, which are created, made, conceived or reduced to practice by her or under her direction or jointly with others during her employment by KEYW, whether or not during normal working hours or on the premises of KEYW (all of which are collectively referred to in this Agreement as “Developments”).

(b)       To the extent that any Developments do not qualify as works made for hire, the Employee hereby irrevocably assigns to the Company (or any Affiliate, person or entity designated by the Company) all her right, title and interest in and to all Developments and all related patents, patent applications, copyrights and copyright applications, trade secrets, trademarks and all other proprietary rights now or hereafter existing therein.  However, this paragraph (b) shall not apply to Developments which do not relate to the present or planned business or research and development of KEYW and which are made and conceived by the Employee outside the scope of her employment, not during normal working hours, not on KEYW’s premises and not using KEYW’s tools, devices, equipment or Proprietary Information. The Employee understands that, to the extent this Agreement shall be construed in accordance with the laws of any state which precludes a requirement in an employee agreement to assign certain classes of inventions made by an employee, this paragraph (b) shall be interpreted not to apply to any invention which a court rules and/or the Company agrees falls within such classes. The Employee also hereby waives all claims to moral rights in any Developments.

(c)       The Employee agrees to cooperate fully with KEYW, both during and after her employment, with respect to the procurement, maintenance and enforcement of copyrights, patents and other intellectual property rights (both in the United States and foreign countries) relating to Developments.  The Employee shall sign all papers, including, without limitation, copyright applications, patent applications, declarations, oaths, formal assignments, assignments of priority rights, and powers of attorney, which KEYW may deem necessary or desirable in order to protect its rights and interests in any Development.  The Employee further agrees that if KEYW is unable, after reasonable effort, to secure the signature of the Employee on any such papers, any executive officer of the Company shall be entitled to execute any such papers as the agent and the attorney-in-fact of the Employee, and the Employee hereby irrevocably designates and appoints each executive officer of the Company as her agent and attorney-in-fact to execute any such papers on her behalf, and to take any and all actions as KEYW may deem necessary or desirable in order to protect its rights and interests in any Development, under the conditions described in this sentence.

6.3       United States Government Obligations.  The Employee acknowledges that KEYW from time to time may have agreements with other parties or with the United States Government, or agencies thereof, which impose obligations or restrictions on KEYW regarding inventions made during the course of work under such agreements or regarding the confidential nature of such work.  The Employee agrees to be bound by all such obligations and restrictions which are made known to the Employee and to take all appropriate action necessary to discharge the obligations of KEYW under such agreements.

7.         Other Agreements.  The Employee represents that there are no contracts to assign inventions between any person or entity and the Employee.   The Employee further represents that (a) the Employee is not obligated under any consulting, employment or other agreement which would affect KEYW’s rights under this Agreement, (b) there is no action, investigation or proceeding, pending or threatened, or any basis therefore known to her involving the Employee’s prior employment or any consultancy or the use of any information or techniques alleged to be proprietary to any former employer, and (c) the performance of the Employee’s duties as an employee of the Company will not breach or constitute a default under any agreement to which the  Employee  is  bound,  including,  without  limitation,  any  agreement  limiting  the  use  or disclosure of proprietary information during the Employee’s employment by the Company.  The Employee will not, in connection with the Employee’s employment by the Company, use or disclose to the Company any confidential, trade secret or other proprietary information of any previous employer or other person to which the Employee is not lawfully entitled.   Any agreement to which the Employee is a party with any prior employer or relating to nondisclosure, non-competition or non-solicitation of employees, customers, prospective customers, vendors or other parties is listed on Exhibit C attached hereto.  The Company agrees to indemnify, defend, and hold harmless Employee from all legal fees and related legal costs incurred in connection with any claims brought by Employee’s former employer (“Former Employer”) for breach of Section 5 of the non-competition  agreement set forth in Exhibit C (“Claims”).  Employee shall notify Company, in writing, with five (5) days of receipt of a Claim by her Former Employer. Company shall have the right, at its own cost and expense, to assume the defense of any Claims by providing written notice to the Employee within thirty (30) days after Company has received notice of such Claims (provided that the Employee shall be permitted to respond reasonably to such Claims during such thirty (30) day period unless and until Company has assumed the defense).   If Company assumes the defense of a Claim, the Employee shall be entitled to participate in the defense of such Claim with counsel selected by her subject to Company’s right to control the defense thereof.  The Employee shall bear the fees and expenses of any additional counsel retained by Employee to participate in her defense.  Company shall have the right, in its sole discretion, to consent to the entry of any judgment or enter into any settlement regarding such Claim.  If Company does not assume the defense of a Claim, or fails to notify the Employee in writing of its election to defend such Claim within thirty (30) days after receipt of notice of such Claim from the Employee, then the Employee may pay, compromise and defend such Claim in such manner as she reasonably deems appropriate, with counsel reasonably acceptable to Company, and seek reimbursement in accordance with this Agreement from Company for the reasonable legal fees and related legal costs of the defense of such Claim.  The Employee will reasonably cooperate with Company and its representatives (including its counsel) in the investigation, negotiation, settlement, trial or defense of any Claim (and any appeal arising therefrom).  If an order of a court of competent jurisdiction that is not lifted, removed or stayed within thirty (30) days following its initial issuance provides that Employee’s employment with the Company must terminate as a result of any claim or action by the Former Employer to enforce any employment or other agreement between Employee and such Former Employer, such termination shall be deemed to be for Cause hereunder and effective upon notice from Company.  Notwithstanding anything to the contrary herein, Company shall not be obligated to pay or reimburse Employee for any legal fees or related legal costs after such notice of termination.

8.         Section 409A.  This Agreement is intended to comply with section 409A of the Code and its corresponding regulations, or an exemption, and payments may only be made under this Agreement upon an event or in a manner permitted by section 409A of the Code, to the extent applicable.  Any benefits that qualify for the “short-term deferral” exemption, separation pay exemption, or any other exemption shall be paid under the applicable exemption.  To the extent Employee would be subject to the additional twenty percent (20%) tax imposed on certain deferred compensation arrangements pursuant to section 409A of the Code as a result of any provision of this Agreement, such provision shall be deemed amended to the minimum extent necessary to avoid application of such tax and preserve to the maximum extent possible 

the original intent and economic benefit to the Employee and the Company, and the parties shall promptly execute any amendment reasonably necessary to implement this Section 8.  In no event may the Employee directly or indirectly designate a calendar year of payment.

8.1      For purposes of section 409A of the Code, Employee’s right to receive installment payments pursuant to this Agreement including, without limitation, each severance payment and COBRA continuation reimbursement shall be treated as a right to receive a series of separate and distinct payments.

8.2      Employee will be deemed to have a date of termination for purposes of determining the timing of any payments or benefits hereunder that are classified as deferred compensation only upon a “separation from service” within the meaning of section 409A of the Code.

8.3       Notwithstanding any other provision of this Agreement to the contrary, if at the time of Employee’s separation from service, (i) Employee is a specified employee (within the meaning of section 409A of the Code and using the identification methodology selected by the Company from time to time), and (ii) the Company makes a good faith determination that an amount payable on account of such separation from service to Employee constitutes deferred compensation (within the meaning of section 409A of the Code) the  payment of which is required to be delayed pursuant to the six-month delay rule set forth in section 409A of the Code in order to avoid taxes or penalties under section 409A of the Code (the “Delay Period”), then the Company will not pay such amount on the otherwise scheduled payment date but will instead pay it in a lump sum on the first business day after such six-month period (or upon Employee’s death, if earlier), together with interest for the period of delay, compounded annually, equal to the applicable Federal rate for short-term instruments) in effect as of the dates the payments should otherwise have been provided.  To the extent that any benefits to be provided during the Delay Period are considered deferred compensation under section 409A of the Code provided on account of a “separation from service”, and such benefits are not otherwise exempt from Section 409A of the Code, Employee shall pay the cost of such benefit during the Delay Period, and the Company shall reimburse Employee, to the extent that such costs would otherwise have been paid by the Company or to the extent that such benefits would otherwise have been provided by the Company at no cost to Employee, the Company’s share of the cost of such benefits upon expiration of the Delay Period, and any remaining benefits shall be reimbursed or provided by the Company in accordance with the procedures specified herein.

8.4      (A) Any amount that Employee is entitled to be reimbursed under this Agreement will be reimbursed to Employee as promptly as practical and in any event not later than the last day of the calendar year after the calendar year in which expenses are incurred, (B) any right to reimbursement or in kind benefits will not be subject to liquidation or exchange for another benefit, and (C) the amount of the expenses eligible for reimbursement during any taxable year will not affect the amount of expenses eligible for reimbursements in any other taxable year.

8.5       Whenever a payment under this Agreement specifies a payment period with reference to a number of days (e.g., “payment shall be made within thirty (30) days following the date of termination”), the actual date of payment within the specified period shall be within the sole discretion of the Company.

9.    Miscellaneous.

9.1      Equitable Remedies.  The restrictions contained in Sections 5 and 6 are necessary for the protection of the business and goodwill of KEYW and are considered by the Employee to be reasonable for such purpose.  The Employee agrees that any breach of Sections 5 or 6 is likely to cause KEYW substantial and irreparable harm for which there is no adequate remedy at law and therefore, in the event of any such breach, the Employee agrees that KEYW, in addition to such other remedies which may be available, shall 

be entitled to specific performance and other injunctive relief without the need to post a bond.  The Company shall be entitled to recover its reasonable attorney’s fees in the event that it prevails in such action.

9.2       Notices.   Any notices delivered under this Agreement shall be deemed duly delivered four business days after it is sent by registered or certified mail, return receipt requested, postage prepaid, or one business day after it is sent for next-business day delivery via a reputable nationwide overnight courier service, in each case to the address of the recipient set forth in the introductory paragraph hereto (in the case of the Company, addressed c/o General Counsel).  Either party may change the address to which notices are to be delivered by giving notice of such change to the other party in the manner set forth in this Section 9.2.

9.3       Pronouns.  Whenever the context may require, any pronouns used in this Agreement shall include the corresponding masculine, feminine or neuter forms, and the singular forms of nouns and pronouns shall include the plural, and vice versa.

9.4       Entire  Agreement.     This  Agreement  (including  the  Exhibits  hereto) constitutes the entire agreement between the parties and cancels and supersedes all prior agreements and understandings, whether written or oral, relating to the subject matter of this Agreement.

9.5       Amendment.   This Agreement may be amended or modified only by a written instrument executed by both KEYW and the Employee.

9.6       Governing Law.  This Agreement shall be governed by and construed in accordance with the laws of the State of Maryland.  Any action, suit or other legal matter arising under or relating to any provision of this Agreement shall be commenced only in a court of the State of Maryland (or, if appropriate, a federal court located within Maryland), and the Company and the Employee each consents to the jurisdiction of such a court.   THE COMPANY AND THE EMPLOYEE EACH HEREBY IRREVOCABLY WAIVE ANY RIGHT TO A TRIAL BY JURY IN ANY ACTION, SUIT OR OTHER LEGAL PROCEEDING ARISING UNDER OR RELATING TO ANY PROVISION OF THIS AGREEMENT.

9.7       Successors and Assigns.  This Agreement shall be binding upon and inure to the benefit of both parties and their respective heirs, legal representatives, successors and permitted assigns.  The Company may assign this Agreement to any Affiliate or to any business or entity with which or into which the Company may be merged or which may succeed to its assets or business.  The obligations of the Employee are personal and may not be assigned by her.

9.8       Waivers.  No delay or omission by KEYW or Employee in exercising any right under this Agreement shall operate as a waiver of that or any other right.   A waiver or consent given by KEYW or Employee on any one occasion shall be effective only in that instance and shall not be construed as a bar or waiver of any right on any other occasion.

9.9       Captions.     The  captions  of  the  sections  of  this  Agreement  are  for convenience of reference only and in no way define, limit or affect the scope or substance of any section of this Agreement.

9.10     Severability.   In case any provision of this Agreement shall be invalid, illegal or otherwise unenforceable, the validity, legality and enforceability of the remaining provisions shall in no way be affected or impaired thereby.

9.11     Counterparts.  This Agreement may be executed by facsimile transmission (including 

by exchange of copies in pdf) in counterparts, each and all of which shall be deemed an original, and both of which together shall constitute but the same instrument.
9.12     Withholding.    The  Company  shall  be  entitled  to  withhold  from  any amounts payable under this Agreement any federal, state, local or foreign withholding or other taxes or charges that it from time to time is required to withhold.  The Company shall be entitled to rely on the opinion of counsel if any questions as to the amount or requirement of such withholding shall arise.

THE EMPLOYEE ACKNOWLEDGES THAT SHE HAS CAREFULLY READ THIS AGREEMENT AND UNDERSTANDS AND AGREES TO ALL OF THE PROVISIONS IN THIS AGREEMENT.

[signatures on next page]

IN WI1NESS WHEREOF,  the parties hereto have executed  this Agreement  as of the
Effective Date.

	
			
	 
	THE KEYW CORPORATION

	 
	By:
	/s/ William J. Weber

	 
	Name:
	William J. Weber

	 
	Title:
	President and Chief Executive Officer

	 
	 
	 

	 
	EMPLOYEE

	 
	By:
	/s/ Michele Cook

	 
	Name:
	Michelle Cook

	 
	 
	 

Exhibit A

STOCK INCENTIVE PLAN

1.    DEFINITIONS

Capitalized terms not defined in this Exhibit A shall have the meaning set forth in the that certain employment agreement between the Company and Michele Cook, dated January 4, 2016 (the “Agreement”).

1.1       “Affiliate”  means,  with  respect  to  a  Person,  any  company  or  other  trade  or business that controls, is controlled by or is under common control with such Person within the meaning of Rule 405 of Regulation C under the Securities Act, including, without limitation, any Subsidiary, provided that an entity may not be considered an Affiliate if it results in noncompliance with section 409A of the Code.

1.2    “Award” means a grant of Stock or Restricted Stock under the Plan.

1.3    “Board” means the Board of Directors of The KEYW Holding Corporation.

1.4       “Exchange Act” means the Securities Exchange Act of 1934, as now in effect or as hereafter amended.

1.5       “Fair Market Value” means the value of a share of Stock, determined as follows: if on the Grant Date or other determination date the Stock is listed on an established national or regional stock exchange, or is publicly traded  on an established securities market, the Fair Market Value of a share of Stock shall be the closing price of the Stock on such exchange or in such market (if there is more than one such exchange or market the Board shall determine the appropriate exchange or market) on the Grant Date or such other determination date (or if there is no such reported closing price, the Fair Market Value shall be the mean between the highest bid and lowest asked prices or between the high and low sale prices on such trading day) or, if no sale of Stock is reported for such trading day, on the next preceding day on which any sale shall have been reported.  If the Stock is not listed on such an exchange, quoted on such system or traded on such a market, Fair Market Value shall be the value of the Stock as determined by the Board in good faith in a manner consistent with section 409A of the Code.

1.6    “Grantee” means William J. Weber.

1.7       “Grant Date” means the date on which the Board of HoldCo adopts a resolution or takes other appropriate action expressly granting an Award to the Grantee that specifies the key terms of the Award, or if a later date is set forth in such resolutions, then such later date.

1.8       “Person”  means  a  natural  person,  partnership,  corporation,  limited  liability company, business trust, joint stock company, trust, unincorporated association, joint venture or other entity or organization.

1.9    “Plan” means this Stock Incentive Plan.

1.10     “Restricted Stock” means shares of Stock, awarded to the Grantee pursuant to the Agreement, that are subject to restrictions and to a risk of forfeiture.

1.11     “Securities  Act”  means  the  Securities  Act  of  1933,  as  now  in  effect  or  as hereafter 

amended.

1.12     “Service”  means  service  as  an  employee,  officer,  director  or  other  Service Provider of the Company or an Affiliate thereof.  A Grantee’s change in position or duties shall not result in interrupted or terminated Service, so long as such Grantee continues to be an employee, officer, director or other Service Provider of the Company or an Affiliate thereof. Subject to the preceding sentence, whether a termination of Service shall have occurred for purposes of the Plan shall be determined by the Board, which determination shall be final, binding and conclusive.

1.13     “Service Provider” means an employee, officer or director of the Company or an Affiliate thereof, or a consultant or adviser currently providing services to the Company or an Affiliate thereof.

1.14    “Stock”  means  unregistered  common  stock,  $0.001  par  value  per  share,  of
HoldCo.

1.15    “Subsidiary” means any “subsidiary corporation” of the Company within the meaning of section 424(f) of the Code.

2.         ADMINISTRATION OF THE PLAN

2.1    Terms of Awards.
The Company retains the right to cause a forfeiture of the gain realized by the Grantee onaccount of actions taken by the Grantee in violation or breach of or in conflict with any employment agreement, non-competition agreement, any agreement prohibiting solicitation of employees or clients of the Company or any Affiliate thereof or any confidentiality obligation with respect to the Company or any Affiliate thereof or otherwise in competition with the Company or any Affiliate thereof.  In addition, the Company may annul an Award if the Grantee is terminated for Cause as defined in the Agreement or the Plan, as applicable.

2.2    Share Issuance/Book Entry.
Notwithstanding any provision of this Plan to the contrary, the issuance of the Stockunder the Plan may be evidenced in such a manner as the Board, in its discretion, deems appropriate, including, without limitation, book-entry registration or issuance of one or more Stock certificates.

3.    TERMS AND CONDITIONS OF RESTRICTED STOCK

3.1    Restricted Stock Certificates.
The Company shall issue, in the name of the Grantee, stock certificates representing thetotal number of shares of Stock or Restricted Stock granted to the Grantee, as soon as reasonably practicable after the applicable Grant Date.  The Board may provide that either (i) the Secretary of the Company shall hold such certificates for the Grantee’s benefit until such time as the Restricted Stock is forfeited to the Company, or the restrictions lapse, or (ii) such certificates shall be delivered to the Grantee; provided, however, that such certificates shall bear a legend or legends that complies with the applicable securities laws and regulations and makes appropriate reference to the restrictions imposed under this Plan and the Agreement.

3.2    Rights in Restricted Stock.
The Grantee shall have the right to vote Restricted Stock and to receive any dividendsdeclared or paid with respect to such Stock.  The Board may provide that any dividends paid on Restricted Stock must be reinvested in shares of Stock, which may or may not be subject to the same or other vesting conditions and restrictions applicable to such Restricted Stock.   All distributions, if any, received by a Grantee with respect to Restricted Stock as a result of any stock split, stock dividend, combination of shares, or other 

similar transaction shall be subject to the restrictions applicable to the original Award.

3.3    Termination of Service.
Except as otherwise provided in the Agreement, upon the termination of a Grantee’sService with the Company or an Affiliate thereof, any shares of Restricted Stock held by such Grantee that have not vested and any Long-Term Incentive Shares that have not been Awarded, or with respect to which all applicable restrictions and conditions have not lapsed, shall immediately be deemed forfeited.  Upon forfeiture of Restricted Stock, the Grantee shall have no further  rights  with  respect  to  such  Award,  including,  but  not  limited  to,  the  right  to  vote Restricted Stock and any right to receive dividends with respect to shares of Restricted Stock.

4.    WITHHOLDING TAXES

The Company or an Affiliate thereof, as the case may be, shall have the right to deduct from payments of any kind otherwise due to the Grantee any federal, state, or local taxes of any kind required by law to be withheld with respect to the vesting of or other lapse of restrictions applicable to an Award or upon the issuance of any shares of Stock.  At the time of such vesting or lapse, the Grantee shall pay to the Company or the Affiliate thereof, as the case may be, any amount that the Company or the Affiliate thereof may reasonably determine to be necessary to satisfy such withholding obligation.  Subject to the prior approval of the Company or the Affiliate thereof, which may be withheld by the Company or the Affiliate thereof, as the case may be, in its sole discretion, the Grantee may elect to satisfy such obligations, in whole or in part, (i) by causing the Company or the Affiliate thereof to withhold shares of Stock otherwise issuable to the Grantee or (ii) by delivering to the Company or the Affiliate shares of Stock already owned by the Grantee. The shares of Stock so delivered or withheld shall have an aggregate Fair Market Value equal to such withholding obligations.  The Fair Market Value of the shares of Stock used to satisfy such withholding obligation shall be determined by the Board as of the date that the amount of tax to be withheld is to be determined.  A Grantee who has made an election pursuant to this Section 4 may satisfy his or her withholding obligation only with shares of Stock that are not subject to any repurchase, forfeiture, unfulfilled vesting, or other similar requirements.  The maximum number of shares of Stock that may be withheld from any Award to satisfy any federal, state or local tax withholding requirements upon the exercise, vesting, lapse of restrictions applicable to such Award or payment of shares pursuant to such Award, as applicable, cannot exceed such number of shares having a Fair Market Value equal to the minimum statutory amount required by the Company to be withheld and paid to any such federal, state or local taxing authority with respect to such exercise, vesting, lapse of restrictions or payment of shares.

5.    RESTRICTIONS ON TRANSFER OF SHARES OF STOCK

5.1    Repurchase and Other Rights.
Stock issued pursuant to an Award of Restricted Stock may be subject to such right of repurchase upon termination of Service or other transfer restrictions as the Board may determine, consistent with applicable law.

5.2    Installment Payments.
In the case of any repurchase of shares of Stock acquired by the Grantee under an Award of Restricted Stock subject to any Sale Restrictions, as defined in Section 2.1(c) of the Agreement, the Company or its permitted assignee may pay the Grantee, transferee, or other registered owner of the Stock the purchase price in three (3) or fewer annual installments. Interest shall be credited on the installments at the applicable federal rate (as determined for purposes of the Code) in effect on the date on which the purchase is made.  The Company or its permitted assignee shall pay at least one-third of the total purchase price each year, plus interest on the unpaid balance, with the first payment being made on or before the 60th day after the purchase.

5.3    Legend.
In order to enforce the restrictions imposed upon shares of Stock under this Plan, the Board may cause a legend or legends to be placed on any certificate representing shares issued pursuant to this Plan that complies with the applicable securities laws and regulations and makes appropriate reference to the restrictions imposed under it.

6.    REQUIREMENTS OF LAW

6.1    General.
The Company shall not be required to issue any shares of Stock under any Award if the issuance of such shares would constitute a violation by the Grantee, any other individual exercising a right emanating from such Award, or the Company of any provision of any law or regulation of any governmental authority, including without limitation any federal or state securities laws or regulations.  If at any time the Company shall determine, in its discretion, that the listing, registration or qualification of any shares subject to an Award upon any securities exchange or under any governmental regulatory body is necessary or desirable as a condition of, or in connection with, the issuance or purchase of shares hereunder, no shares of Stock may be issued to the Grantee or any other individual unless such listing, registration, qualification, consent or approval shall have been effected or obtained free of any conditions not acceptable to the Company, and any delay caused thereby shall in no way affect the date of termination of the Award.  Without limiting the generality of the foregoing, in connection with the Securities Act, upon the exercise of any right emanating from such Award or the delivery of any shares of Restricted Stock, unless a registration statement under the Securities Act is in effect with respect to the shares of Stock covered by such Award, the Company shall not be required to issue such shares unless the Board has received evidence satisfactory to it that the Grantee or any other individual may acquire such shares pursuant to an exemption from registration under the Securities Act.  Any determination in this connection by the Board shall be final, binding, and conclusive. The Company may, but shall in no event be obligated to, register any securities covered hereby pursuant to the Securities Act.  The Company shall not be obligated to take any affirmative action in order to cause the issuance of shares of Stock pursuant to the Plan to comply with any law or regulation of any governmental authority.

6.2    Securities Representations.
The shares of Stock being issued to the Grantee are being made by the Company in  reliance  upon  the  following  express  representations  and  warranties  of  the  Grantee.  The Grantee acknowledges, represents and warrants that:

(a)  The  Grantee  has  been  advised  that  she  may  be  an  “affiliate”  within  the meaning of Rule 144 under the Securities Act of 1933, as amended (the “Act”) and in this connection the Company is relying in part on his or her representations set forth in this Section.

(b) If the Grantee is deemed an affiliate within the meaning of Rule 144 of the Act, the Stock issued under this Plan must be held indefinitely unless an exemption from any applicable  resale  restrictions  is  available  or  the  Company  files  an  additional  registration statement (or a “re-offer prospectus”) with regard to such shares of Stock and the Company is under no obligation to register the shares (or to file a “re-offer prospectus”).

(c) If the Grantee is deemed an affiliate within the meaning of Rule 144 of the Act, the Grantee understands that the exemption from registration under Rule 144 will not be available unless (i) a public trading market then exists for the Stock of the Company, (ii) adequate information concerning the Company is then available to the public, and (iii) other terms and conditions of Rule 144 or any exemption therefrom are complied with; and that any sales of the shares of Stock may be made only in limited amounts 

in accordance with such terms and conditions.

6.4    409A.

(a)  The Plan shall be unfunded.  Neither the Company nor the Board shall be required to establish any special or separate fund or to segregate any assets to assure the performance of its obligations under the Plan.  The Plan is intended to comply with section 409A of the Code to the extent subject thereto, and, accordingly, to the maximum extent permitted, the Plan shall be interpreted and administered to be in compliance therewith.  Any payments described in the Plan that are due within the “short-term deferral period” as defined in section 409A of the Code shall not be treated as deferred compensation unless applicable laws require otherwise. Notwithstanding anything to the contrary in the Plan, to the extent required to avoid accelerated taxation and tax penalties under section 409A of the Code, amounts that would otherwise be payable and benefits that would otherwise be provided pursuant to the Plan during the six (6) month  period  immediately  following  the  Grantee’s  termination  of  continuous  service  shall instead be paid on the first payroll date after the six-month anniversary of the Grantee’s separation from service (or the Grantee’s death, if earlier).   In furtherance of this interest, to the extent that any Treasury Regulations or other guidance issued under section 409A of the Code after the date of this Agreement would result in payment of interest or tax penalty under section 409A of the Code, the Company and the Grantee agree, to the extent permissible, to amend this Plan, in order to bring this Plan into compliance with the provisions of section 409A of the Code. In no event shall the Company or any successor to the Company or their respective affiliates, successors, shareholders, employees, officers or agents have any liability relating to the failure or alleged failure of any payment or benefit under this Agreement to comply with, or be exempt from, the requirements of section 409A.   If the Company, for any reason, does not timely withhold the full amount of payroll tax, withholding or other taxes necessary to satisfy the Company’s withholding obligation to the U.S. Treasury or state taxing authority hereunder and the Recipient receives amounts in excess of the amounts she would otherwise be entitled to under this Agreement after taking into account such legal withholding obligations, Recipient agrees to return such excess amounts to the Company within thirty (30) days of the Company’s request to do so. NOTWITHSTANDING ANY OTHER PROVISION OF THIS AGREEMENT, NONE OF THE COMPANY OR ANY SUCCESSOR TO THE COMPANY OR THEIR RESPECTIVE AFFILIATES, SUCCESSORS, SHAREHOLDERS, EMPLOYEES, OFFICERS OR AGENTS MAKE ANY GUARANTEE OF TAX CONSEQUENCES WITH RESPECT TO THIS AGREEMENT OR ANY BENEFITS OR PAYMENTS PROVIDED FOR HEREIN.

7.    EFFECT OF CHANGES IN CAPITALIZATION

7.1    Changes in Stock.
If the number of outstanding shares of Stock is increased or decreased or the shares of Stock are changed into or exchanged for a different number or kind of shares or other securities of the Company on account of any recapitalization, reclassification, stock split, reverse split, combination of shares, exchange of shares, stock dividend or other distribution payable in capital stock, or other increase or decrease in such shares effected without receipt of consideration by the Company occurring after the Commencement Date, the number and kinds of shares for which Awards may be made under the Plan shall be adjusted proportionately and accordingly by the Board.   In addition, the number and kind of shares for which Awards are outstanding shall be adjusted proportionately and accordingly so that the proportionate interest of the Grantee immediately following such event shall, to the extent practicable, be the same as immediately before such event.   The conversion of any convertible securities of the Company shall not be treated as an increase in shares effected without receipt of consideration.  Notwithstanding the foregoing, in the event of any distribution to the Company’s stockholders of securities of any other entity or other assets (including an extraordinary dividend but excluding a non-extraordinary dividend of the Company) without receipt of consideration by the Company, 

the Company shall, in such manner as the Company deems appropriate, adjust the number and kind of shares subject to outstanding Awards to reflect such distribution.

7.2    Reorganization in Which the Company Is the Surviving Entity and in Which
No Change of Control Occurs.
If  the  Company  shall  be  the  surviving  entity  in  any  reorganization,  merger,  or consolidation of the Company with one or more other entities and in which no Change of Control occurs, any Award theretofore made pursuant to this Plan shall pertain to and apply to the securities to which a holder of the number of shares of Stock subject to such Award would have been entitled immediately following such reorganization, merger, or consolidation.  In the event of a transaction described in this Section 7.2, Long-Term Incentive Shares shall be adjusted so as to apply to the securities that a holder of the number of shares of Stock subject to the Long-Term Incentive Shares would have been entitled to receive immediately following such transaction.

7.3    Change of Control.
Upon  the  occurrence  of  a  Change  of  Control,  immediately  prior  to  the  scheduled consummation of a Change of Control, all shares of Restricted Stock shall become immediately vested and all Long-Term Incentive Shares that have not been granted shall be granted and become immediately vested.

7.4    No Limitations on Company.
The making of Awards pursuant to the Plan shall not affect or limit in any way the right or power of the Company to make adjustments, reclassifications, reorganizations, or changes of its capital or business structure or to merge, consolidate, dissolve, or liquidate, or to sell or transfer all or any part of its business or assets.

Exhibit B

FORM OF GENERAL RELEASE OF ALL CLAIMS

This General Release of All Claims is made as of
(“General Release”), by
and between [] (“Employee”) and The KEYW Corporation (the “Company”).

WHEREAS,  the  Company  and  Employee  are  parties  to  an  Employment Agreement dated as of [_     ] (the “Employment Agreement”);

WHEREAS, the execution of this General Release is a condition precedent to the Company’s obligation to pay the severance payments as set forth in the Employment Agreement;

WHEREAS, in consideration for Employee’s signing of this General Release, the Company will pay Employee the severance payments pursuant the Employment Agreement, as applicable; and

WHEREAS, Employee and the Company intend that this General Release shall be in full satisfaction of the obligations described in this General Release owed to the Employee by the Company, including those under the Employment Agreement.

NOW, THEREFORE, in consideration of the promises and the mutual covenants and agreements herein contained, the Company and Employee agree as follows:

1.       Employee, for himself, Employee’s spouse, heirs, administrators, children, representatives, executors, successors, assigns, and all other persons claiming through Employee, if  any  (collectively,  “Releasers”),  does  hereby  release,  waive,  and  forever  discharge  the Company   and   each   of   its   respective   agents,   subsidiaries,   parents,   Affiliates,   related organizations, and all of their employees, officers, directors, managers, attorneys, successors, and assigns (collectively, the “Releasees”) from, and does fully waive any obligations of Releasees to Releasers for, any and all liability, actions, charges, causes of action, demands, damages, or claims for relief, remuneration, sums of money, accounts or expenses (including attorneys’ fees and  costs) of  any kind  whatsoever,  whether known or unknown, suspected or unsuspected, disclosed  or  undisclosed,    or  contingent  or  absolute,  which  heretofore  has  been  or  which hereafter may be suffered or sustained, directly or indirectly, by Releasers in consequence of, arising out of, or in any way relating to: (a) Employee’s employment with the Company or any of  its  subsidiaries  or  Affiliates;  (b)  the  termination  of  Employee’s  employment  with  the Company and any of its subsidiaries or Affiliates; (c) the Employment Agreement; (d) violation of any law including but not limited to federal, state or local statutes, or the common law of any jurisdiction; or (e) any events occurring on or prior to the date of this General Release. Notwithstanding the above, this release and waiver does not apply to: (i) any right to indemnification now existing under the Company’s governing documents or applicable law; (ii) any rights to the receipt of employee benefits which vested on or prior to the date of this General Release; (iii) the right to receive severance payments in accordance with Section 4.2 of the Employment Agreement; and (iv) right to continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act.

2.         Excluded from this General Release and waiver are any claims which cannot be waived by law, including but not limited to the right to participate in an investigation conducted by certain government agencies.   Employee does, however, waive Employee’s right to any monetary   recovery   should   any   agency   (such   as   the   Equal   Employment   Opportunity Commission) pursue any claims on Employee’s 

behalf.  Employee represents and warrants that Employee has not filed any complaint, charge, or lawsuit against the Releasees with any government agency or any court.

3.        Employee agrees that neither this General Release, nor the furnishing of the consideration for this General Release, shall be deemed or construed at any time to be an admission by the Company, any Releasees, or Employee of any improper or unlawful conduct.

4.    Employee acknowledges and recites that:

(a)            Employee has executed this General Release knowingly and voluntarily;

(b)             Employee has read and understands this General Release in its entirety;

(c)             Employee has been advised and directed orally and in writing (and  this  subparagraph (c) constitutes  such  written  direction) to  seek  legal counsel and any other advice Employee wishes with respect to the terms of this General Release before executing it; and

(d)    Employee’s execution of this General Release has not been forced by any employee or agent of the Company.

5.         This General Release shall be governed by the internal laws (and not the choice of laws) of the State of Maryland, except for the application of preemptive Federal law.

6.    Employee  shall  have  21  calendar  days  to  consider  this  General  Release  and 7 calendar days from the date she executes this General Release to revoke her waiver of any Age Discrimination in Employment Act claims by providing written notice of the revocation to the Company, as provided in Section 4.2 of the Employment Agreement.  In the event of such revocation, the terms of Section 4.2 of the Employment Agreement shall govern.  Once signed, in the absence of your revocation of this General Release, the General Release will become effective on the day following the seventh and final day of the revocation period.

7.         Employee expressly agrees that, except to the extent required by law, she will not disclose or cause to be disclosed any negative, adverse or derogatory comments or information about the Company, and will not make any such comments or provide such information to any customer of the Company, to any person associated with any media, to the general public, or to any other person or entity.

8.         Employee agrees that she will keep entirely secret and confidential, and shall not use or disclose to any person or entity, in any manner or for any purpose whatsoever, any information of the Company that is not available to the general public and/or not generally known outside the Company and to which she has had access during the course of her employment by the Company, including, without limitation, the Company's confidential, proprietary, and trade secret information and any information relating to: the Company's business or operations; its plans, strategies, prospects or objectives; its products, technology, processes or specifications; its research and development operations or plans; its customers and customer lists;  its  manufacturing,  distribution,  sales,  service,  support  and  marketing  practices  and operations; its financial conditions and results of operations; its pricing, pricing strategies and costs; its operational strengths and weaknesses; its personnel and compensation policies, procedures and transactions; its plans for any strategic exit and all information of third parties for which the Company has an obligation to maintain as confidential.

9.         Employee further agrees that within five (5) business days after the Effective Date of this Agreement, she will return to the Company: (i) all documents, data, material, details and copies  thereof  

in  any  form  (electronic  or  hard  copy)  and  wherever  located  (including  in personally owned computers, storage media or accounts) that are the property of the Company or were created using the Company's resources or during any hours worked for the Company, including, without limitation, any data referred to in Paragraph 10 herein; and (ii) all other property  belonging  to  the  Company,  wherever  located,  including,  without  limitation,  all computer equipment and associated passwords, property passes, keys, credit cards, business cards, and identification badges.

10.      In consideration for the Company's promises and undertakings set forth in this Agreement, Employee, on behalf of himself, and her heirs, representatives, and assigns, hereby agrees and covenants, to the fullest extent permitted by applicable law, not to commence, maintain, prosecute or participate in any action or proceeding of any kind against Releasees based on any of the claims waived and released in Paragraph 1 of this General Release.

11.       Capitalized terms not defined in this General Release have the meanings given in the Employment Agreement.

PLEASE READ THIS AGREEMENT CAREFULLY.  IT CONTAINS A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS.

	
				
	Date:
	 
	 
	 

	 
	 
	 
	Michelle Cook

	 
	 
	 
	 

	 
	 
	 
	 

	Date:
	 
	 
	 

	 
	 
	By:
	 

	 
	 
	Title:
	 

Exhibit C
Prior Agreements

Principal Non-Competition Agreement between Michele Cook and Booz Allen Hamilton Inc. dated October 9, 2014.EX-4.1

 Exhibit 4.1 

NEITHER THIS SECURITY NOR THE SECURITIES ISSUABLE HEREUNDER HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF
ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE
SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO
THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY. THIS SECURITY AND THE SECURITIES ISSUABLE HEREUNDER MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN WITH A FINANCIAL
INSTITUTION THAT IS AN “ACCREDITED INVESTOR” AS DEFINED IN RULE 501(a) UNDER THE SECURITIES ACT OR OTHER LOAN SECURED BY SUCH SECURITIES. 

Original Issue Date: March 15, 2017 

$27,780,000.00 
 9.5% ORIGINAL
ISSUE DISCOUNT 
 SENIOR SECURED DEBENTURE 

DUE FEBRUARY 28, 2020 

THIS 9.5% ORIGINAL ISSUE DISCOUNT SENIOR SECURED DEBENTURE is one of a series of duly authorized and validly issued 9.5% Original Issue
Discount Senior Secured Convertible Debentures of CareDx, Inc., a Delaware corporation, (the “Company”), having its principal place of business at 3260 Bayshore Boulevard, Brisbane, California 94005 (this debenture, as amended,
restated, supplemented or otherwise modified from time to time, the “Debenture” and collectively with the other debentures of such series, the “Debentures”) and is issued pursuant to the Purchase Agreement (as
defined below). 
 FOR VALUE RECEIVED, the Company promises to pay in cash to [NAME OF HOLDER], or its registered assigns (the
“Holder”), or shall have paid pursuant to the terms hereunder, the principal sum of Twenty Seven Million Seven Hundred Eighty Thousand Dollars ($27,780,000) on February 28, 2020 (the “Maturity Date”) or such
earlier date as this Debenture is required or permitted to be repaid as provided hereunder, and to pay interest to the Holder on the aggregate then outstanding principal amount of this Debenture in accordance with the provisions hereof. This
Debenture is subject to the following additional provisions: 
 Section 1.    Definitions. For the
purposes hereof, in addition to the terms defined elsewhere in this Debenture, (a) capitalized terms not otherwise defined herein shall have the meanings set forth in the Purchase Agreement and (b) the following terms shall have the
following meanings: 
 “Agent” means JGB Collateral LLC, a Delaware limited liability company. 

 “Allenex” means, collectively, CareDx International AB f/k/a
Allenex AB and its subsidiaries. 
 “Allenex Indebtedness” shall have the meaning set forth in Section
6(a)(i). 
 “Allenex Vendors” shall have the meaning set forth in Section 6(a)(i). 

“AlloMap” means the Company’s AlloMap heart transplant molecular test for the monitoring and
identification of heart transplant recipients. 
 “AlloSure” means the Company’s sequencing-based test
to detect donor-derived cell-free DNA after organ transplantation. 
 “Applicable Interest Rate” means an
annual rate equal to nine and one-half percent (9.5%); provided, however, following the occurrence and during the continuance of an Event of Default, the “Applicable Interest Rate” shall
automatically, without notice or any other action required by Holder, mean an annual rate equal to twelve and one-half percent (12.5%). 

“Bankruptcy Event” means any of the following events: (a) the Company or any Significant Subsidiary (as
such term is defined in Rule 1-02(w) of Regulation S-X) thereof commences a case or other proceeding under any bankruptcy, reorganization, arrangement, adjustment of
debt, relief of debtors, dissolution, insolvency or liquidation or similar law of any jurisdiction relating to the Company or any Significant Subsidiary thereof, (b) there is commenced against the Company or any Significant Subsidiary thereof
any such case or proceeding that is not dismissed within sixty (60) days after commencement, (c) the Company or any Significant Subsidiary thereof is adjudicated insolvent or bankrupt or any order of relief or other order approving any
such case or proceeding is entered, (d) the Company or any Significant Subsidiary thereof suffers any appointment of any custodian or the like for it or any substantial part of its property that is not discharged or stayed within sixty
(60) calendar days after such appointment, (e) the Company or any Significant Subsidiary thereof makes a general assignment for the benefit of creditors, (f) the Company or any Significant Subsidiary thereof calls a meeting of its
creditors with a view to arranging a composition, adjustment or restructuring of its debts, (g) the Company or any Significant Subsidiary thereof, by any act or failure to act, expressly indicates its consent to, approval of or acquiescence in
any of the foregoing or takes any corporate or other action for the purpose of effecting any of the foregoing, or (h) the Company or any Significant Subsidiary admits in writing its inability, or is otherwise unable, to pay its debts generally
as they become due. For the avoidance of doubt, Allenex shall, in any case, be deemed a Significant Subsidiary of the Company. 

“Base Conversion Price” shall have the meaning set forth in Section 5(b). 

  
 2 

 “Beneficial Ownership Limitation” shall have the meaning set
forth in Section 4(i). 
 “Blocked Account” shall have the meaning
set forth in Section 6(b). 
 “Blocked Account Agreement” shall have the meaning set forth in
Section 6(b). 
 “Bloomberg” means Bloomberg, L.P. 

“Board of Directors” means the board of directors of the Company. 

“Buy-In” shall have the meaning set forth in Section 4(f). 

“Calculation Date” shall have the meaning set forth in Section 6(c). 

“Change of Control Transaction” means the occurrence after the date hereof of any of (a) an acquisition
after the date hereof by an individual or legal entity or “group” (as described in Rule 13d-5(b)(1) promulgated under the Exchange Act) of effective control (whether through legal or beneficial
ownership of capital stock of the Company, by contract or otherwise) of in excess of fifty percent (50%) of the voting securities of the Company (other than by means of conversion or exercise of the Debentures and the Warrants issued together with
the Debentures), (b) the Company merges into or consolidates with any other Person, or any Person merges into or consolidates with the Company and, after giving effect to such transaction, the stockholders of the Company immediately prior to such
transaction own less than fifty percent (50%) of the aggregate voting power of the Company or the successor entity of such transaction, or (c) the Company Disposes of all or substantially all of its assets to another Person and the stockholders
of the Company immediately prior to such transaction own less than fifty percent (50%) of the aggregate voting power of the acquiring entity immediately after the transaction. 

“CMS” means the U.S. Center for Medicare & Medicaid Services. 

“Collateral” shall have the meaning given such term in the Security Agreement. 

“Commercial Launch Milestone #1” means the date by which the Company has accumulated aggregate gross revenue
of at least $150,000 from commercial sales (excluding sales made pursuant to any named patient, compassionate use program or similar arrangements) of AlloSure to un-Affiliated third parties in one fiscal
quarter (at reimbursement rates that, in the Company’s good faith opinion, do not render the marketing and sale of AlloSure to be uncommercial). 

“Commercial Launch Milestone #2” means, once Commercial Launch Milestone #1 has been achieved, the Company has
accumulated aggregate gross revenue of at least $300,000 from commercial sales (excluding sales made pursuant to any named patient, compassionate use program or similar arrangements) of AlloSure to
un-Affiliated third 

  
 3 

 
Parties in one fiscal quarter subsequent to the fiscal quarter in which Commercial Launch Milestone #1 was achieved (at reimbursement rates that, in the Company’s good faith opinion, do not
render the marketing and sale of AlloSure to be uncommercial). 
 “Commercial Launch Milestone #3” means,
once Commercial Launch Milestone #1 and Commercial Launch Milestone #2 have been achieved, the Company has accumulated aggregate gross revenue of at least $600,000 from commercial sales (excluding sales made pursuant to any named patient,
compassionate use program or similar arrangements) of AlloSure to un-Affiliated third parties in one fiscal quarter subsequent to the fiscal quarters in which Commercial Launch Milestone #1 and Commercial
Launch Milestone #2 was achieved (at reimbursement rates that, in the Company’s good faith opinion, do not render the marketing and sale of AlloSure to be uncommercial). 

“Commercial Launch Milestones” means, collectively, Commercial Launch Milestone #1, Commercial Launch
Milestone #2 and Commercial Launch Milestone #3. 
 “Commission” means the U.S. Securities Exchange
Commission. 
 “Common Stock Equivalents” means any securities of the Company or the Subsidiaries which
would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or
otherwise entitles the holder thereof to receive, Common Stock. 
 “Company Counsel” means Paul Hastings
LLP, with offices located at 1117 South California Avenue, Palo Alto, California 94304. 
 “Conversion Date”
shall have the meaning set forth in Section 4(b)(i). 
 “Conversion Price” shall have the meaning set
forth in Section 4(b)(ii). 
 “Conversion Share Delivery Date” shall have the meaning set forth in
Section 4(b)(iii). 
 “Conversion Shares” means, collectively, the shares of Common Stock issuable
upon conversion of this Debenture pursuant to Section 4(b). 
 “Copyright License” means any written
agreement granting any right to use any Copyright or Copyright registration, now owned or hereafter acquired by the Company or in which the Company now holds or hereafter acquires any interest. 

“Copyrights” means all copyrights, whether registered or unregistered, held pursuant to the laws of the United
States, any State thereof, or of any other country. 
 “Debenture Register” shall have the meaning set forth
in Section 2(c). 

  
 4 

 “Debenture Shares” means all Conversion Shares, Stock Payment
Shares and Monthly Redemption Advance Shares. 
 “Delivery Date” means (a) with respect to Conversion
Shares, the applicable Conversion Share Delivery Date, (b) with respect to Stock Payment Shares, the applicable Holder Redemption Payment Date, (c) with respect to Interest True-Up Shares, the
applicable Interest Payment Date and (d) with respect to Monthly Redemption Advance Shares, the applicable Monthly Redemption Advance Date. 

“Dilutive Issuance” shall have the meaning set forth in Section 5(b). 

“Dilutive Issuance Notice” shall have the meaning set forth in Section 5(b). 

“Dispose” and “Disposition” means the sale, transfer, license, lease or other disposition
(including any sale and leaseback transaction or by way of a merger) of any assets or property by any Person, including, without limitation, any sale, assignment, transfer or other disposal, with or without recourse, of any notes or accounts
receivable or any rights and claims associated therewith, in each case, whether or not the consideration therefor consists of cash, securities or other assets owned by the acquiring Person, excluding any sales of inventory in the ordinary course of
business on ordinary business terms. For the avoidance of doubt, in no event shall the issuance and/or sale of Equity Interests of the Company (other than Disqualified Stock) be considered a Disposition hereunder. 

“Disqualified Stock” shall mean, with respect to any person, any Equity Interests of such person that, by its
terms (or by the terms of any security or other Equity Interests into which it is convertible or for which it is exchangeable) or upon the happening of any event or condition (a) matures or is mandatorily redeemable, pursuant to a sinking fund
obligation or otherwise (except as a result of a Change of Control Transaction so long as any rights of the holders thereof upon the occurrence of a Change of Control Transaction shall be subject to the prior repayment in full of the Debentures),
(b) is redeemable at the option of the holder thereof, in whole or in part, (c) provides for the scheduled payments of dividends in cash, or (d) is or becomes convertible into or exchangeable for Indebtedness or any other Equity Interests
that would constitute Disqualified Stock. 
 “Distribution” shall have the meaning set forth in Section
5(d). 
 “Dollar Volume Limitation” means fifteen percent (15%) of the aggregate dollar trading volume
of the Common Stock on the Principal Market (or other applicable Trading Market) over the twenty (20) consecutive Trading Day period ending on the Trading Day immediately preceding the date of any Holder Redemption Notice or the commencement of
any Interest Notice Period or Mandatory Conversion Period, as applicable. For the purposes of this definition the term “dollar trading volume” for any Trading Day shall be determined by multiplying the VWAP by the volume as reported on
Bloomberg for such Trading Day. 

  
 5 

 “Domestic Subsidiary” means any Subsidiary that is incorporated
or organized under the laws of any state of the United States or the District of Columbia, other than a Subsidiary owned directly or indirectly by a Foreign Subsidiary existing on the Original Issue Date. 

“DTC” means the Depository Trust Company. 

“Equity Conditions” means, during the period in question, (a) the Company shall have duly honored all
conversions and redemptions scheduled to occur or occurring by virtue of one or more Notices of Conversion or Holder Redemption Notices, as applicable (b) the Company shall have paid all liquidated damages and other amounts owing to the Holder
in respect of this Debenture, (c) (i) there is an effective Registration Statement pursuant to which the Holder is permitted to utilize the prospectus thereunder to resell all of the shares of Common Stock issuable pursuant to the Transaction
Documents or (ii) all of the shares of Common Stock issued, issuable or required to be issued pursuant to the Transaction Documents may be resold pursuant to Rule 144 without volume or manner-of-sale restrictions as determined by Company Counsel as set forth in a written opinion letter to such effect, addressed and acceptable to the Transfer Agent and the Holder, provided, however, this
condition shall not be deemed satisfied during (1) any period that the Company is not in compliance with the current public information requirements under Rule 144 or any information requirements of paragraph (i) of Rule 144, if
applicable, or (2) any Rule 12b-25 extension period with respect to any quarterly or annual report of the Company that is not filed by the prescribed due date therefor (for the avoidance of doubt, without
giving effect to any extension period), (d) the Common Stock is trading on a Trading Market (provided that, for purposes of a Mandatory Conversion or a prepayment pursuant to Section 2(c), such Trading Market shall be a national securities
exchange) and all of shares of Common Stock issued, issuable or required to be issued pursuant to the Transaction Documents are listed or quoted for trading on such Trading Market (and the Company believes, in good faith, that trading of the Common
Stock on a Trading Market will continue uninterrupted for the foreseeable future) and the issuance of such shares of Common Stock pursuant to the Transaction Documents would not violate the rules and regulations of any such Trading Market,
(e) there is a sufficient number of authorized but unissued and otherwise unreserved shares of Common Stock for the issuance of all of the shares then issuable pursuant to the Transaction Documents, (f) there is no existing Event of
Default and no existing event which, with the expiration of cure period or the giving of notice, would constitute an Event of Default, (g) the issuance of the shares of Common Stock in question to the Holder would not violate the limitations
set forth in Section 4(i) or Section 4(j), (h) there has been no public announcement of a pending or proposed Fundamental Transaction or Change of Control Transaction that has not been consummated, (i) the applicable Holder is not
in possession of any information provided by or on behalf of the Company that constitutes, or may constitute, material non-public information, (j) as to a Mandatory Conversion or prepayment pursuant to
Section 2(c), the average dollar trading volume for the Common Stock on the principal Trading Market for each of the twenty (20) consecutive Trading 

  
 6 

 
Days immediately prior to the commencement of the applicable Mandatory Conversion Period or Prepayment Period, as applicable, and on each Trading Day of the Mandatory Conversion Period or
Prepayment Period, as applicable, exceeds One Hundred Thousand Dollars ($100,000) per Trading Day, (k) the VWAP of the Common Stock is at least $1.00 per share (appropriately adjusted for any stock split, stock dividend, stock combination,
stock buy-back or other similar transaction) on each Trading Day, and (l) the Common Stock is DTC eligible (and not subject to “chill”) and the Company’s transfer agent is participating in
DTC’s Fast Automated Securities Transfer Program. 
 “Equity Conditions Failure” shall have the meaning
set forth in Section 4(a)(iii). 
 “Equity Interests” means, with respect to any Person, all of the
shares of capital stock of (or other ownership or profit interests in) such Person, all of the warrants, options or other rights for the purchase or acquisition from such Person of shares of capital stock of (or other ownership or profit interests
in) such Person, all of the securities convertible into or exchangeable for shares of capital stock of (or other ownership or profit interests in) such Person or warrants, rights or options for the purchase or acquisition from such Person of such
shares (or such other interests), and all of the other ownership or profit interests in such Person (including partnership, member or trust interests therein), whether voting or nonvoting, and whether or not such shares, warrants, options, rights or
other interests are outstanding on any date of determination. 
 “Event of Default” shall have the meaning
set forth in Section 7(a). 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended,
and the rules and regulations promulgated thereunder. 
 “Exchange Cap” shall have the meaning set forth in
Section 4(j). 
 “Exchange Cap Allocation” shall have the meaning set forth in Section 4(j).

 “Exchange Cap Shares” shall have the meaning set forth in Section 4(j). 

“Exempt Issuance” means the issuance of (a) shares of Common Stock or Common Stock Equivalents to
employees, officers or directors of the Company pursuant to any stock or option plan duly adopted for such purpose, by a majority of the Board of Directors or the compensation committee thereof and the issuance of Common Stock in respect thereof,
(b) securities issued pursuant to the Transaction Documents and/or other securities exercisable or exchangeable for or convertible into shares of Common Stock issued and outstanding on the date of this Debenture, provided that such securities
have not been amended since the date of this Debenture to increase the number of such securities or to decrease the exercise price, exchange price or conversion price of such securities (for purposes of clarity, any decrease in the exercise price,
exchange price or conversion price of such securities shall not be deemed an amendment thereto, if such decrease is as a result of any price-based anti-dilution provision contained in such 

  
 7 

 
securities prior to the date hereof); and (c) securities issued pursuant to acquisitions, joint ventures, partnerships or strategic transactions approved by a majority of the disinterested
directors of the Company, provided that any such issuance shall only be to a Person (or to the equityholders of a Person) which, as determined in good faith by the Company’s Board of Directors, is, itself or through its subsidiaries, an
operating company or an owner of an asset in a business similar to or synergistic with the business of the Company and shall provide to the Company additional benefits in addition to the investment of funds, but shall not include a transaction in
which the Company is issuing securities primarily for the purpose of raising capital or to an entity whose primary business is investing in securities. 

“Foreign Subsidiary” means any Subsidiary that is not a Domestic Subsidiary. 

“Fundamental Transaction” means (a) the Company, directly or indirectly, in one or more related
transactions effects any merger or consolidation of the Company with or into another Person, (b) the Company, directly or indirectly, effects any sale, lease, exclusive license, assignment, transfer, conveyance or other disposition of all or
substantially all of its assets in one or a series of related transactions, (c) any, direct or indirect, purchase offer, tender offer or exchange offer (whether by the Company or another Person) is completed pursuant to which holders of Common
Stock are permitted to sell, tender or exchange their shares for other securities, cash or property and has been accepted by the holders of fifty percent (50%) or more of the outstanding Common Stock, (d) the Company, directly or indirectly, in
one or more related transactions effects any reclassification, reorganization or recapitalization of the Common Stock (but, for the avoidance of doubt, excluding any transaction, event or occurrence covered by Section 5(a)) or any compulsory
share exchange pursuant to which the Common Stock is effectively converted into or exchanged for other securities, cash or property, (e) the Company, directly or indirectly, in one or more related transactions consummates a stock or share
purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization, spin-off or scheme of arrangement) with another Person whereby such other Person acquires
more than fifty percent (50%) of the outstanding shares of Common Stock (not including any shares of Common Stock held by the other Person or other Persons making or party to, or associated or Affiliated with the other Persons making or party to,
such stock or share purchase agreement or other business combination). 
 “Governmental Authority” means any
national, supranational, federal, state, county, provincial, local, municipal or other government or political subdivision thereof (including any Regulatory Authority), whether domestic or foreign, and any agency, authority, commission, ministry,
instrumentality, regulatory body, court, tribunal, arbitrator, central bank or other Person exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to any such government. 

“Gross Profit” means total revenue from sales of AlloMap minus the cost of revenue directly related to AlloMap
as determined in accordance with GAAP, 

  
 8 

 
consistently applied, and otherwise in accordance with the methodology for calculating gross profit previously provided by the Company to the Holder, an illustrative example of which is attached
hereto as Schedule A. 
 “Gross Profit Shortfall” has the meaning set forth in Section 6(d).

 “Gross Profit Shortfall Redemption Price” means, with respect to any redemption of this Debenture made
pursuant to Section 6(d), an amount in cash equal to 3x the applicable Gross Profit Shortfall together with an early redemption premium equal to the following percentage of such amount: (a) if the redemption occurs on or prior to
March 1, 2018, fifteen percent (15%), (b) if the redemption occurs after March 1, 2018, but prior to March 1, 2019, eight percent (8%); and (c) if the redemption occurs on or after March 1, 2019, five percent (5%). 

“Guarantor” means any Subsidiary that has unconditionally guaranteed the Company’s obligations hereunder
and granted to the Holder or the Agent a first ranking security interest in substantially all of the assets of such Subsidiary. For the avoidance of doubt, Allenex is not a Guarantor. 

“Holder Redemption Amount” shall have the meaning set forth in Section 4(a)(i). 

“Holder Redemption Notice” shall have the meaning set forth in Section 4(a)(i). 

“Holder Redemption Payment Date” shall have the meaning set forth in Section 4(a)(i). 

“Holder Redemption Right” shall have the meaning set forth in Section 4(a)(i). 

“Indebtedness” shall include (a) all obligations for borrowed money or the deferred purchase price of
property or services (excluding trade credit entered into in the ordinary course of business due within one hundred twenty (120) days), (b) all obligations evidenced by bonds, debentures, notes, or other similar instruments and all
reimbursement or other obligations in respect of letters of credit, surety bonds, bankers acceptances, current swap agreements, interest rate hedging agreements, interest rate swaps or other financial products, (c) all capital or equipment
lease obligations, (d) all obligations or liabilities secured by a Lien (except for Liens described in clauses (a) and (b) of the definition of Permitted Liens) on any asset of the Company or any Subsidiary, irrespective of whether such
obligation or liability is assumed by the Company or such Subsidiary, and (e) any obligation guaranteeing or intended to guarantee (whether directly or indirectly guaranteed, endorsed, co-made, discounted
or sold with recourse) any of the foregoing obligations of any other person or entity. 
 “Intellectual
Property” means, with respect to any Person, all of such Person’s Copyrights; Trademarks; Patents; Licenses; trade secrets and inventions; mask works; such Person’s applications therefor and reissues, extensions, or renewals
thereof; and 

  
 9 

 
such Person’s goodwill associated with any of the foregoing, together with such Person’s rights to sue for past, present and future infringement of Intellectual Property and the
goodwill associated therewith. 
 “Interest Payment Date” shall have the meaning set forth in Section
2(a). 
 “Investments” means, as to any Person, any direct or indirect acquisition or investment by such
Person, whether by means of (a) the purchase or other acquisition (including by merger) of Equity Interests of another Person, (b) a loan, advance or capital contribution to, guarantee or assumption of debt of, or purchase or other
acquisition of any other debt or interest in, another Person, or (c) the purchase or other acquisition (in one transaction or a series of transactions) of assets of another Person that constitute a business unit or all or a substantial part of
the business of, such Person. 
 “License” means any Copyright License, Patent License, Trademark License or
other license of rights or interests. 
 “Lien” means any mortgage, deed of trust, pledge, hypothecation,
assignment for security, security interest, encumbrance, levy, lien or charge of any kind, whether voluntarily incurred or arising by operation of law or otherwise, against any property, any conditional sale or other title retention agreement, and
any lease in the nature of a security interest. 
 “Mandatory Conversion” shall have the meaning set forth
in Section 4(c). 
 “Mandatory Conversion Amount” shall have the meaning set forth in Section
4(c). 
 “Mandatory Conversion Notice” shall have the meaning set forth in Section 4(c). 

“Mandatory Conversion Period” shall have the meaning set forth in Section 4(c). 

“Mandatory Default Amount” means the sum of (a) the outstanding principal amount of this Debenture
(including, for the avoidance of doubt, any original issue discount) and all accrued and unpaid interest thereon, (b) all other amounts, costs, expenses and liquidated damages due in respect of this Debenture, and (c) together with a
premium equal to the following percentage of the sum of (a) and (b): (i) if this Debenture is accelerated on or prior to March 1, 2018, fifteen percent (15%), (ii) if this Debenture is accelerated after March 1, 2018, but prior to
March 1, 2019, eight percent (8%); and (iii) if this Debenture is accelerated on or after March 1, 2019, five percent (5%). 

“Material Adverse Effect” means a material adverse effect upon: (a) the business, operations, properties,
assets or financial condition of the Company and its Subsidiaries taken as a whole; or (b) the ability of the Company to perform or pay any of its obligations in accordance with the terms of the Transaction Documents, or the ability of Agent or
Holder to enforce any of its rights or remedies with respect to such obligations; or (c) the Collateral or Agent’s Liens on the Collateral or the priority of such Liens. 

  
 10 

 “Monthly Allowance” means, with respect to each calendar month
commencing with March, 2018, a portion of the principal amount of this Debenture equal to $937,500 plus accrued and unpaid interest thereon. 

“Monthly Redemption Advance Date” shall have the meaning set forth in Section 4(a)(iii). 

“Monthly Redemption Advance Shares” shall have the meaning set forth in Section 4(a)(ii). 

“New York Courts” shall have the meaning set forth in Section 8(d). 

“Notice of Conversion” shall have the meaning set forth in Section 4(b)(i). 

“Original Issue Date” means March 15, 2017, regardless of any transfers of the Debenture or amendments
to the Debenture and regardless of the number of instruments which may be issued to evidence the Debenture. 

“Patent License” means any written agreement granting any right with respect to any invention on which a
Patent is in existence or a Patent application is pending, in which agreement the Company now holds or hereafter acquires any interest. 

“Patents” means all letters patent of, or rights corresponding thereto, in the United States or in any other
country, all registrations and recordings thereof, and all applications for letters patent of, or rights corresponding thereto, in the United States or any other country. 

“Permitted Dispositions” means (a) sales of inventory in the ordinary course of business, (b) non-exclusive Licenses and similar arrangements for the use of Intellectual Property in the ordinary course of business that could not result in a legal transfer of title of the licensed Intellectual
Property, (c) dispositions of worn-out, obsolete or surplus equipment at fair market value in the ordinary course of business, (d) casualty events, (e) discounts and forgiveness of receivables
in the ordinary course of business consistent with past practice, (f) dispositions of cash equivalent Permitted Investments, the proceeds of which are used for another Permitted Investment of equal to or greater value, and (g) other
transfers of assets having a fair market value of not more than Two Hundred Fifty Thousand Dollars ($250,000) in the aggregate in any fiscal year. 

“Permitted Indebtedness” means (a) the indebtedness evidenced by this Debenture, (b) lease
obligations and purchase money indebtedness of up to Five Hundred Thousand Dollars ($500,000), in the aggregate, incurred in connection with the acquisition of capital assets and lease obligations with respect to newly acquired or leased

  
 11 

 
assets, provided that such lease obligations and purchase money indebtedness are only recourse to the assets being acquired or leased, (c) Subordinated Indebtedness, (f) other
Indebtedness outstanding on the Original Issue Date and identified on Schedule B hereto, and (e) Refinancing Indebtedness as long as each of the Refinancing Conditions are satisfied. 

“Permitted Investment” means: (a) Investments existing on the Closing Date which are disclosed on
Schedule C; (b) (i) U.S. Treasury bills, notes, and bonds maturing within one (1) year from the date of acquisition thereof, (ii) U.S. agency and government-sponsored entity debt obligations maturing within one (1) year
from the date of acquisition thereof, and (iii) Commission-registered money market funds that have a minimum of One Billion Dollars ($1,000,000,000) in assets, (c) Investments consisting of notes receivable of, or prepaid royalties and
other credit extensions and advances, to customers, suppliers, contract manufacturers, and/or licensors who are not Affiliates, in the ordinary course of business, provided that this subparagraph (c) shall not apply to Investments of the
Company in any Subsidiary; (d) Investments consisting of travel advances in the ordinary course of business; (e) Investments in newly-formed or newly-acquired Domestic Subsidiaries, provided that each such Domestic Subsidiary promptly
executes a subsidiary guaranty in a form acceptable to the Holder and a joinder to the Security Agreement; and (f) additional Investments that do not exceed Two Hundred Fifty Thousand Dollars ($250,000) in the aggregate. 

“Permitted Lien” means the individual and collective reference to the following: (a) Liens for taxes,
assessments and other governmental charges or levies not yet due or Liens for taxes, assessments and other governmental charges or levies being contested in good faith and by appropriate proceedings for which adequate reserves (in the good faith
judgment of the management of the Company) have been established in accordance with GAAP, (b) Liens imposed by law which were incurred in the ordinary course of the Company’s business, such as carriers’, warehousemen’s and
mechanics’ Liens, statutory landlords’ Liens, and other similar Liens arising in the ordinary course of the Company’s business, and which (x) do not individually or in the aggregate materially detract from the value of the
property or assets subject to such Lien or materially impair the use thereof in the operation of the business of the Company and its consolidated Subsidiaries or (y) are being contested in good faith by appropriate proceedings, which
proceedings have the effect of preventing for the foreseeable future the forfeiture or sale of the property or asset subject to such Lien, (c) Liens in favor of the Agent, (d) Liens existing on the Original Issuance Date and identified on
Schedule D hereto, (e) Liens in respect of Subordinated Indebtedness, and (f) Liens for reasonable and customary banking fees granted to banks or other financial institutions in the ordinary course of business in connection with,
and which solely encumber, deposit, disbursement or concentration accounts (other than in connection with borrowed money) maintained with such banks or financial institutions that do not exceed fifty thousand dollars ($50,000) in the aggregate. 

“Prepayment Amount” means, with respect to any prepayment of this Debenture made pursuant to Section
2(c), the entire outstanding principal balance (including, for the 

  
 12 

 
avoidance of doubt, any original issue discount) of this Debenture, all accrued and unpaid interest thereon, together with a prepayment premium equal to the following percentage of the entire
outstanding principal balance (including, for the avoidance of doubt, any original issue discount) of this Debenture: (a) if this Debenture is prepaid on or prior to March 1, 2018, fifteen percent (15%), (b) if this Debenture is prepaid
after March 1, 2018, but prior to March 1, 2019, eight percent (8%); and (c) if this Debenture is prepaid on or after March 1, 2019, five percent (5%). 

“Prepayment Date” shall have the meaning set forth in Section 2(c). 

“Prepayment Notice” shall have the meaning set forth in Section 2(c). 

“Prepayment Notice Date” shall have the meaning set forth in Section 2(c). 

“Prepayment Period” shall have the meaning set forth in Section 2(c). 

“Principal Market” means the Nasdaq Global Select Market or such other Trading Market where the Common Stock
is then listed or quoted. 
 “Product” means any current or future product developed, manufactured,
licensed, marketed, sold or otherwise commercialized by the Company or any Subsidiary, including any such product in development or which may be developed. 

“Product Authorizations” means any and all approvals (including applicable supplements, amendments, pre and
post approvals, drug master files, governmental price and reimbursement approvals and approvals of applications for regulatory exclusivity), licenses, registrations or authorizations of any Governmental Authority necessary for the manufacture,
development, distribution, use, storage, import, export, transport, promotion, marketing, sale or other commercialization of a Product in any country or jurisdiction. 

“Pro Rata Share” means, with respect to the value or amount in question, the Holder’s pro rata share thereof
based on the outstanding principal balance of this Debenture relative to the aggregate outstanding principal balance of all Debentures. 

“Purchase Agreement” means the Securities Purchase Agreement, dated as of March 15, 2017, among the
Company and the purchasers signatory thereto (including the original Holder), as amended, modified or supplemented from time to time in accordance with its terms. 

“Purchase Rights” shall have the meaning set forth in Section 5(c). 

“Refinancing Conditions” means the following conditions for Refinancing Debt: (a) it is in an aggregate
principal amount that does not exceed the principal amount of the Indebtedness being extended, renewed or refinanced (other than an increase in an aggregate principal amount resulting solely from any capitalized or payment in-kind interest); (b) it has a final maturity no sooner than, and a weighted average life no less than, the date that is six (6) months after the Maturity Date, (c) it has an interest rate no greater than
the Indebtedness being extended, renewed or refinanced; (c) the 

  
 13 

 
representations, covenants and defaults applicable to it are no less favorable to the obligors for such Refinancing Indebtedness, than those applicable to the Indebtedness being extended, renewed
or refinanced; (e) no additional Lien is granted to secure it; (f) no additional Person is obligated on it; and (g) upon giving effect to it, no Event of Default exists or would exist with the passing of time or giving of notice or
both. 
 “Refinancing Indebtedness” means Indebtedness that is the result of an extension, renewal or
refinancing of Indebtedness permitted under clauses (c) or (d) of the definition of Permitted Indebtedness. 

“Registration Rights Agreement” means the Registration Rights Agreement, dated as of the date of the Purchase
Agreement, among the Company and the original Holders, in the form of Exhibit B attached to the Purchase Agreement. 

“Registration Statement” means a registration statement meeting the requirements set forth in the Registration
Rights Agreement and covering the resale of all shares of Common Stock issued, issuable or required to be issued pursuant to the Transaction Documents by each Holder as provided for in the Registration Rights Agreement. 

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated
thereunder. 
 “Stock Off” shall have the meaning set forth in Section 4(a)(ii). 

“Stock On” shall have the meaning set forth in Section 4(a)(ii). 

“Stock On/Off Notice” shall have the meaning set forth in Section 4(a)(ii). 

“Stock Payment Price” means the lowest of (a) eighty eight percent (88%) of the VWAP for the Trading Day
immediately prior to, as the case may be, the applicable Monthly Redemption Advance Date or the date of the applicable Holder Redemption Notice, (b) eighty eight percent (88%) of the average of the three (3) lowest VWAPs during the twenty
(20) consecutive Trading Day period immediately preceding, as the case may be, the applicable Monthly Redemption Advance Date or the date of the applicable Holder Redemption Notice, and (c) the Conversion Price then in effect. 

“Stock Payment Shares” shall have the meaning set forth in Section 4(a)(iv). 

“Subordinated Indebtedness” means Indebtedness that is expressly subordinated to the Indebtedness to the
Holder pursuant to a written subordination agreement and intercreditor agreement satisfactory to the Holder in its sole discretion. 

“Subsidiary” means an entity, whether corporate, partnership, limited liability company, joint venture or
otherwise, in which the Company owns or controls twenty-five percent (25.0%) or more of the outstanding voting securities, including each entity listed on Schedule E hereto. 

  
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 “Successor Entity” shall have the meaning set forth in
Section 5(e). 
 “Threshold Period” shall have the meaning set forth in Section 4(c). 

“Threshold Price” shall have the meaning set forth in Section 4(c). 

“Trademark License” means any written agreement granting any right to use any Trademark or Trademark
registration, now owned or hereafter acquired by the Company or in which the Company now holds or hereafter acquires any interest. 

“Trademarks” means all trademarks (registered, common law or otherwise) and any applications in connection
therewith, including registrations, recordings and applications in the United States Patent and Trademark Office or in any similar office or agency of the United States, any State thereof or any other country or any political subdivision thereof.

 “Trading Day” means a day on which the principal Trading Market is open for trading. 

“Trading Market” means any of the following markets or exchanges on which the Common Stock is listed or quoted
for trading on the date in question: the NYSE MKT, the Nasdaq Global Market, the Nasdaq Capital Market, the New York Stock Exchange, the OTCQB, the OTCQX U.S. or the Principal Market (or any successors to any of the foregoing). 

“Variable Rate Transaction” means a transaction in which the Company (a) issues or sells any debt or
equity securities that are convertible into, exchangeable or exercisable for, or include the right to receive, additional shares of Common Stock either (i) at a conversion price, exercise price or exchange rate or other price that is based
upon, and/or varies with, the trading prices of or quotations for the shares of Common Stock at any time after the initial issuance of such debt or equity securities or (i) with a conversion, exercise or exchange price that is subject to being
reset at some future date after the initial issuance of such debt or equity security or upon the occurrence of specified or contingent events directly or indirectly related to the business of the Company or the market for the Common Stock (for
purposes of clarity, a customary price-based anti-dilution provision shall be excluded from the terms described in clauses (i) and (ii) herein) or (b) enters into any agreement, including, but not limited to, an equity line of credit,
whereby the Company may issue securities at a future determined price. 
 “VWAP” means, for any date, the
price determined by the first of the following clauses that applies: (a) if the Common Stock is then listed or quoted on a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the nearest preceding date)
on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg (based on a Trading Day from 9:30 a.m. (local time in New York City, New York) to 4:00 p.m. (local time in New York City, New York)),

  
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(b) if the Common Stock is not then listed or quoted for trading on a Trading Market and if prices for the Common Stock are then reported in the “Pink Sheets” published by OTC
Markets Group, Inc. (or a similar organization or agency succeeding to its functions of reporting prices), the most recent bid price per share of the Common Stock so reported, or (c) in all other cases, the fair market value of a share of
Common Stock as determined by an independent appraiser selected in good faith by the Holder and reasonably acceptable to the Company, the reasonable, actual and documented fees and reasonable, actual and documented out-of-pocket expenses of which shall be paid by the Company. 

Section 2.    Interest; Prepayment. 

a)    Payment of Interest in Cash or Common Stock. The Company shall pay interest to the Holder on
the aggregate then outstanding principal amount of this Debenture at the Applicable Interest Rate, payable monthly in arrears as of the last Trading Day of each calendar month and on the Maturity Date (each such date, an “Interest Payment
Date”) (if any Interest Payment Date is not a Business Day, then the applicable payment shall be due on the next succeeding Business Day), in cash. Notwithstanding the foregoing, to the extent that the Company has elected for this Debenture
to be Stock On for any calendar month, then (i) the Holder may, if permitted by the Company as indicated in the applicable Stock On/Off Notice relating to such calendar month, increase its Holder Redemption Amount set forth in any one or more
Holder Redemption Notices delivered during such calendar month by all, or any portion, of the accrued and unpaid interest on this Debenture, and (ii) if there remains any accrued and unpaid interest on the Interest Payment Date for such
calendar month, the Company shall pay such remaining accrued and unpaid interest to the Holder in cash. 

b)    Interest Calculations. Interest shall be calculated on the basis of a 360-day year and the actual number of days elapsed, and shall accrue daily commencing on the Original Issue Date until payment in full of the outstanding principal (including, for the avoidance of doubt, any
original issue discount), together with all accrued and unpaid interest, liquidated damages and other amounts which may become due hereunder, has been made. Interest hereunder will be paid to the Person in whose name this Debenture is registered on
the records of the Company regarding registration and transfers of this Debenture (the “Debenture Register”) or such Person’s designee identified to the Company in writing. 

c)    Prepayment at the Option of the Company. Subject to the provisions of this Section
2(c), at any time after (x) the Company’s execution of a binding definitive agreement providing for a Change of Control Transaction and the satisfaction of all conditions precedent to the consummation of such Change of Control
Transaction (except for those conditions precedent that by their nature can only be satisfied at the closing of such Change of Control Transaction) or (y) February 28, 2018, and provided that the Equity Conditions are satisfied during the
Prepayment Period (unless waived by the Holder in writing), the Company may deliver a notice to the Holder and the holders of the other outstanding Debentures (a “Prepayment 

  
 16 

 
Notice” and the date such notice is deemed delivered hereunder, the “Prepayment Notice Date”) of its irrevocable election to redeem all, but not less than all, of the
then outstanding principal amount of this Debenture and the other outstanding Debentures (including, for the avoidance of doubt, any original issue discount) for cash in an amount equal to the Prepayment Amount on the thirtieth (30th) Trading Day
following the Prepayment Notice Date (such date, the “Prepayment Date”, such thirty (30) Trading Day period, the “Prepayment Period”). The Prepayment Amount shall be due and payable in full in cash on the
Prepayment Date. The Company covenants and agrees that it will honor, in accordance with the terms of this Debenture, all Notices of Conversion and, to the extent that this Debenture is Stock On, all Holder Redemption Notices, tendered from the time
of delivery of the Prepayment Notice through the date all amounts owing thereon are due and paid in full. The Company will, concurrently with the delivery of the Prepayment Notice to the Holder, publicly announce its intention to prepay this
Debenture, and if such prepayment is in connection with a Change of Control Transaction, all material terms of such Change of Control Transaction, by means of a Current Report on Form 8-K filed with the
Commission. If any portion of Prepayment Amount shall not be paid by the Company by the Prepayment Date, interest shall accrue thereon at an interest rate equal to the lesser of fifteen percent (15%) per annum or the maximum rate permitted by
applicable law until such amount is paid in full. Notwithstanding anything herein contained to the contrary, if (1) any portion of the Prepayment Amount remains unpaid after the Prepayment Date, (2) the Equity Conditions are not satisfied
during the Prepayment Period, or (3) the prepayment is in connection with a Change of Control Transaction, but the Change of Control Transaction is not consummated within one (1) Trading Day after the payment of the Prepayment Amount,
then, in each case, the Holder may elect, by written notice to the Company given at any time thereafter, to invalidate such prepayment, ab initio. For the avoidance of doubt, the Holder may elect to convert the outstanding principal amount of the
Debenture pursuant to Section 4 prior to actual payment in cash of the Prepayment Amount under this Section 2(c) by the delivery of a Notice of Conversion to the Company. 

Section 3.    Registration of Transfers and Exchanges. 

a)    Different Denominations. This Debenture is exchangeable for an equal aggregate principal
amount of Debentures of different authorized denominations, as requested by the Holder surrendering the same. No service charge will be payable for such registration of transfer or exchange. 

b)    Investment Representations. This Debenture has been issued subject to certain investment
representations of the original Holder set forth in the Purchase Agreement and may be transferred or exchanged only in compliance with the Purchase Agreement and applicable federal and state securities laws and regulations. 

c)    Reliance on Debenture Register. Prior to due presentment for transfer to the Company of this
Debenture, the Company and any agent of the Company may treat the Person in whose name this Debenture is duly registered on the Debenture Register as 

  
 17 

 
the owner hereof for the purpose of receiving payment as herein provided and for all other purposes, whether or not this Debenture is overdue, and neither the Company nor any such agent shall be
affected by notice to the contrary. 
 Section 4.    Monthly Redemption; Voluntary Conversion; Mandatory
Conversion; Delivery of Debenture Shares. 
 a)    Monthly Redemption. 

i.    Commencing on March 1, 2018, the Holder shall have the right, at its option, to require the
Company to redeem up to the Monthly Allowance per calendar month (the “Holder Redemption Right) in accordance with this Section 4(a). The Holder may exercise its Holder Redemption Right for a calendar month, at any time and from
time to time, during such calendar month, by sending one or more written notices, the form of which is attached hereto as Annex A (each a “Holder Redemption Notice”), to the Company by not later than 11:59:59 P.M. (local time
in New York, New York) on the last Trading Day of such calendar month, which Holder Redemption Notices shall specify the principal amount to be redeemed and the amount of accrued and unpaid interest thereon (together, the “Holder Redemption
Amount”). The Company shall promptly, but in any event no more than one (1) Trading Day after the date that the Holder delivers a Holder Redemption Notice to the Company (the “Holder Redemption Payment Date”) (1) if
this Debenture is Stock Off on the date that the Holder delivers the Holder Redemption Notice to the Company, pay to the Holder in cash by wire transfer of immediately available funds an amount equal to the Holder Redemption Amount specified in the
Holder Redemption Notice or (2) if this Debenture is Stock On on the date that the Company delivers the Holder Redemption Notice to the Company, deliver to the Holder shares of Common Stock as provided in this Section 4(a). For the
avoidance of doubt, payment in cash or shares of Common Stock shall be determined according to the status of the Debenture as Stock On or Stock Off on the date that the Holder delivers the Holder Redemption Notice to the Company and not the Holder
Redemption Payment Date. For the further avoidance of doubt, the Holder and the Company agree that the Holder may deliver more than one (1) Holder Redemption Notice during a calendar month provided that the sum of the Holder Redemption Amounts
set forth in all of the Holder Redemption Notices delivered during such calendar month does not exceed the Monthly Allowance. For the further avoidance of doubt, no reduction in the outstanding principal amount of this Debenture (as a result of
conversion, redemption or otherwise) shall reduce or otherwise have any effect on the amount of the Monthly Allowance, which shall remain unchanged regardless of any such reduction in the outstanding principal amount of this Debenture. 

ii.    With respect to each calendar month during the term of this Debenture, the Company shall elect
whether this Debenture shall be Stock On or Stock Off for such calendar month by delivering, on the fifth (5th) Trading Day prior to the first
(1st) day of such calendar month, a written notice (a “Stock On/Off Notice”) to the Holder of the Company’s election to pay any Holder Redemption Amounts under Section
4(a)(i) 

  
 18 

 
in shares of Common Stock (“Stock On”) or in cash (“Stock Off”) during such calendar month. For the avoidance of doubt, the Company shall make the same election
of Stock On or Stock Off with respect to all of the outstanding Debentures. If the Company fails to deliver the Stock On/Off Notice by the date required herein for any calendar month, the Company shall be deemed to have delivered a Stock On/Off
Notice electing Stock Off for such calendar month. Once delivered (or deemed delivered) a Stock On/Off Notice shall be irrevocable as to the applicable calendar month and the Company may not change its election for such calendar month. If the
Company elects Stock On in such Stock On/Off Notice, then the Company shall certify in such notice that the Equity Conditions are satisfied. In addition, to the extent that the Company elects Stock On, on the Trading Day prior to the first (1st) day of the applicable calendar month (such Trading Day, the “Monthly Redemption Advance Date”), the Company shall deliver to the Holder’s or its broker’s DTC account a
number of freely tradable shares of Common Stock free from restrictive legends (“Monthly Redemption Advance Shares”) equal to the quotient of (x) the Monthly Allowance (plus, if the Company has permitted the issuance of shares
of Common Stock in satisfaction of accrued and unpaid interest as provided in Section 2(a), all interest that would accrue through the applicable Interest Payment Date assuming no reductions in principal from the Monthly Redemption Advance
Date through the applicable Interest Payment Date) and (y) the Stock Payment Price. For the avoidance of doubt and purposes of clarification, the Monthly Redemption Advance Shares are an advance on the Stock Payment Shares that the Holder
anticipates receiving pursuant to Section 4(a)(iv) and shall not be deemed a payment of principal or interest hereunder except as provided in Section 4(a)(iv). 

iii.    If the Equity Conditions cease, for any reason, to be satisfied while this Debenture is Stock On
(an “Equity Conditions Failure”), then, unless such Equity Conditions Failure is waived in writing by the Holder, this Debenture shall immediately be deemed to be Stock Off. The Company shall promptly, but in any event within one
(1) Trading Day, notify the Holder of any Equity Conditions Failure and, unless such Equity Conditions Failure is waived in writing by the Holder, the Company shall not be permitted to make any Holder Redemption Payments during such calendar
month in shares of Common Stock and all Holder Redemption Payments for the remainder of such calendar month shall be made in cash as provided herein. 

iv.    With respect to each Holder Redemption Notice delivered to the Company pursuant to Section
4(a)(i) at a time when this Debenture was Stock On, subject to the provisions of this Section 4(a)(iv), the Company shall, in payment of the Holder Redemption Amount deliver to the Holder a number of shares of Common Stock equal to the
quotient of (such quotient of (x) and (y), the “Stock Payment Shares”) (x) the applicable Holder Redemption Amount and (y) the Stock Payment Price by not later than the applicable Holder Redemption Payment Date; provided,
that if the Holder has actually received Monthly Redemption Advance Shares, the number of Stock Payment Shares deliverable pursuant to the immediately preceding sentence shall be reduced (but not below zero) by the excess (if any) of the
Monthly Redemption Advance Shares actually received by the Holder over the aggregate number of Stock Payment Shares that 

  
 19 

 
were deliverable pursuant to this Section 4(a)(iv) for all other prior Holder Redemption Notices given during the same calendar month (such excess, as the Monthly Redemption Advance Shares
may be further reduced pursuant to the last sentence of Section 4(d), the “Available Advance Shares”). The Holder’s calculation of the Available Advance Shares set forth on the Holder Redemption Notice shall be binding
on the Company absent manifest error. 
 v.    Notwithstanding the foregoing or any other provision to
the contrary contained herein, in the event that the Holder Redemption Amount in respect of any Holder Redemption Notice, when aggregated with the Holder Redemption Amounts in respect of each other Holder Redemption Notice delivered to the Company
during the same calendar month, would exceed the Holder’s Pro Rata Share of the Dollar Volume Limitation, then the Company shall pay the portion of the Holder Redemption Amount that would be in excess of the Holder’s Pro Rata Share of the
Dollar Volume Limitation in cash. In addition, in the event that the aggregate number of Monthly Redemption Advance Shares or Stock Payment Shares to be delivered to the Holder pursuant to this Section 4(a) in would cause such Holder to
exceed the Beneficial Ownership Limitation, then, (I) the Holder shall provide written notice to the Company that such delivery of all or a portion of such Monthly Redemption Advance Shares or Stock Payment Shares would cause the Holder to
exceed the Beneficial Ownership Limitation, and (II) in addition to delivery of the number of Monthly Redemption Advance Shares or Stock Payment Shares that would not cause such Holder to exceed the Beneficial Ownership Limitation, as
applicable, the Company shall issue to the Holder only such number of Monthly Redemption Advance Shares or Stock Payment Shares that would not cause the Holder to exceed the Beneficial Ownership Limitation, and with respect to Stock Payment Shares,
pay to the Holder, in lieu of such number of Stock Payment Shares that would cause the Holder to exceed the Beneficial Ownership Limitation an amount in cash equal to the portion of the Holder Redemption Amount that would otherwise be payable in
respect of such excess number of Stock Payment Shares. 
 vi.    If there are any Available Advance
Shares remaining after all Holder Redemption Notices delivered during a particular calendar month have been satisfied in full, the Holder will, at its option, retain such Available Advance Shares in partial satisfaction of the obligation of the
Company to deliver Advance Shares in respect of the next month on which the Company elects for this Debenture to be Stock On or return such remaining number of Available Advance Shares to the Company. 

vii.    Each of the Holder and the Company acknowledge the Company’s obligation under Section 4.8(a)
of the Purchase Agreement to not provide any material non-public information to the Holder, and the Holder agrees that the Company shall have no liability to the Holder for failing to disclose any material non-public information in connection with the issuance of any Stock Payment Shares to Holder in accordance with the terms of this Debenture. 

  
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 b)    Voluntary Conversion. 

i.    Voluntary Conversion. Commencing on the Original Issue Date, and thereafter from time to time
until this Debenture is no longer outstanding, this Debenture shall be convertible, in whole or in part, into shares of Common Stock at the option of the Holder, subject to the conversion limitations set forth in
Section 4(i) and Section 4(j). The Holder shall effect conversions by delivering to the Company a Notice of Conversion, the form of which is attached hereto as Annex B (each, a “Notice of
Conversion”), specifying therein the principal amount of this Debenture to be converted and the date on which such conversion shall be effected (such date, the “Conversion Date”). If no Conversion Date is specified in a
Notice of Conversion, the Conversion Date shall be the first (1st) Business Day immediately following the date that such Notice of Conversion is deemed delivered hereunder. No ink-original Notice of Conversion shall be required, nor shall any medallion guarantee (or other type of guarantee or notarization) of any Notice of Conversion form be required. To effect conversions hereunder, the
Holder shall not be required to physically surrender this Debenture to the Company unless the entire principal amount of this Debenture, plus all accrued and unpaid interest thereon, has been so converted. Conversions hereunder shall have the effect
of lowering the outstanding principal amount of this Debenture in an amount equal to the applicable conversion. The Holder and the Company shall maintain records showing the principal amount(s) converted and the date of such conversion(s). In the
event of any dispute or discrepancy, the records of the Holder shall be controlling and determinative in the absence of manifest error. The Holder, and any assignee by acceptance of this Debenture, acknowledge and agree that, by reason of the
provisions of this paragraph, following conversion of a portion of this Debenture, the unpaid and unconverted principal amount of this Debenture may be less than the amount stated on the face hereof. 

ii.    Conversion Price. The conversion price in effect on any Conversion Date shall be equal to
$4.56, subject to adjustment herein (the “Conversion Price”). 
 iii.    Conversion
Shares Issuable Upon Conversion of Principal Amount; Delivery Date. The number of Conversion Shares issuable upon a conversion hereunder shall be determined by the quotient obtained by dividing (x) the outstanding principal amount of this
Debenture to be converted plus accrued and unpaid interest thereon by (y) the Conversion Price. The Company shall deliver all Conversion Shares to the Holder within one (1) Trading Day after the date of the applicable Notice of Conversion
(the “Conversion Share Delivery Date”). 
 c)    Mandatory Conversion. If, at any
time after September 1, 2017, (i) the VWAP for Common Stock equals or exceeds two hundred fifty percent (250%) of the Conversion Price (the “Threshold Price”) for twenty (20) consecutive Trading Days (the
“Threshold Period”), and (ii) the Equity Conditions have been satisfied on each Trading Day during the Threshold Period and each of the ten (10) consecutive Trading Days 

  
 21 

 
immediately prior to the first (1st) day of the Threshold Period, then the Company shall have the option, within ten (10) Trading Days
after the end of any such Threshold Period, to deliver a written notice to the Holder (a “Mandatory Conversion Notice”) to cause the Holder to convert, pursuant to Section 4(b) hereof, a principal amount of this Debenture (a
“Mandatory Conversion”), during the thirty (30) Trading Day period after the Holder’s receipt of the Mandatory Conversion Notice (the “Mandatory Conversion Period”), equal to the lesser of (1) the
Holder’s Pro Rata Share of the Dollar Volume Limitation on the date of the Mandatory Conversion Notice and (2) the entire outstanding principal balance of this Debenture (including, for the avoidance of doubt, any original issue discount)
plus all accrued and unpaid interest thereon (such lesser amount, the “Mandatory Conversion Amount”); provided, however, if the Equity Conditions cease to be satisfied at any time during the Mandatory Conversion Period or the VWAP
for the Common Stock on any Trading Day following the last Trading Day of the Threshold Period (including during the Mandatory Conversion Period) is less than the Threshold Price, then the Holder shall be under no further obligation with respect to
such Mandatory Conversion. The Holder shall effect any Mandatory Conversion by delivering one or more Notices of Conversions pursuant to Section 4(b) at any time, and from time to time, during the applicable Mandatory Conversion Period, for
an aggregate principal amount equal to the Mandatory Conversion Amount. For the avoidance of doubt, the Company may deliver more than one Mandatory Conversion Notice during the term of this Debenture, provided, that it may not deliver a Mandatory
Conversion Notice during any Mandatory Conversion Period. For the further avoidance of doubt, nothing in this Section 4(c) shall be deemed to limit the Holder’s right to voluntarily convert all or any portion of this Debenture, at any
time, and from time to time, in accordance with Section 4(b), and the Holder may submit Notices of Conversion for a principal amount of this Debenture in excess of the Mandatory Conversion Amount during any Mandatory Conversion Period.
Concurrently with the delivery of any Mandatory Conversion Notice to the Holder hereunder, the Company shall publicly disclose its election to require the Mandatory Conversion of this Debenture by means of a Current Report on Form 8-K filed with the Commission. 
 d)    Delivery of Certificate for
Stock Payment Shares and Conversion Shares. The Company shall deliver any Debenture Shares required to be issued by the Company electronically through DTC without restrictive legends or trading restrictions of any kind not later than the
applicable Delivery Date; provided, that prior to the six (6) month anniversary of the Original Issue Date, in order for such Debenture Shares to be issued without restrictive legends, the Company shall be in compliance with the current public
information requirements of Rule 144. The Company shall, at its own expense, cause Company Counsel to issue any legal opinions required to issue Debenture Shares without any restrictive legends or trading restrictions of any kind, such legal opinion
to be substantially in the form of Annex C. If Conversion Shares or Stock Payment Shares, as the case may be, are not delivered to or as directed by the applicable Delivery Date, the Holder shall, in addition to, and not in limitation of, its
other rights and remedies under this Debenture and the other Transaction Documents, be entitled to elect by written notice to the Company at any time on or before its receipt of such Conversion Shares or Stock

  
 22 

 
Payment Shares, to rescind the applicable Notice of Conversion or Holder Redemption Notice, as the case may be. In addition to any other remedies of the Holder hereunder, in connection with any
Notice of Conversion, if the Company does not deliver the applicable Conversion Shares by the applicable Conversion Share Delivery Date, the Holder may, at its option, in connection with any conversion of this Debenture pursuant to Section
4(b), apply any Available Advance Shares to the satisfaction of the Company’s obligation to deliver the applicable Conversion Shares on the applicable Conversion Share Delivery Date. 

e)    Obligation Absolute; Partial Liquidated Damages. The Company’s obligations to issue and
deliver Debenture Shares in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any
judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to the Company or any violation or
alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of the Company to the Holder in connection with the issuance of Debenture Shares; provided, however,
that such delivery shall not operate as a waiver by the Company of any such action the Company may have against the Holder. The Company may not refuse to issue any Debenture Shares required to be issued hereunder based on any claim that the Holder
or anyone associated or Affiliated with the Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, shall have been sought and obtained, and the Company posts a
surety bond for the benefit of the Holder in the amount of one hundred and fifty percent (150%) of the outstanding principal amount of this Debenture, which is subject to the injunction, which bond shall remain in effect until the completion of
litigation of the underlying dispute and the proceeds of which shall be payable to the Holder to the extent it obtains judgment. In the absence of such injunction, the Company shall issue Debenture Shares required to be issued hereunder in
accordance with the terms hereof. If the Company fails for any reason to deliver to the Holder Debenture Shares required to be issued pursuant to any provision of this Debenture by the second Trading Day following the applicable Delivery Date, the
Company shall pay to the Holder, in cash, as partial liquidated damages and not as a penalty, for each one thousand dollars ($1,000) of principal amount being redeemed or converted, as applicable, five dollars ($5) per Trading Day for each Trading
Day after the second Trading Day following such Delivery Date, as applicable, until such certificates are delivered or Holder rescinds such redemption or conversion, as applicable; provided, however, if the Company has failed to deliver Debenture
Shares required to be issued pursuant to any provision of this Debenture by the applicable Delivery Date more than twice in any twelve (12) month period, then such partial liquidated damages shall begin to accrue on the Delivery Date. Nothing
herein shall limit a Holder’s right to pursue actual damages or declare an Event of Default pursuant to Section 7 hereof for the Company’s failure to deliver Debenture Shares within the

  
 23 

 
applicable period specified in this Debenture and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of
specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law. 

f)    Compensation for Buy-In on Failure to Timely Deliver
Certificates. In addition to any other rights available to the Holder, if the Company fails for any reason to deliver to the Holder Debenture Shares required to be issued pursuant to any provision of this Debenture by the applicable Delivery
Date, and if after such Delivery Date the Holder is required by its brokerage firm to purchase (in an open market transaction or otherwise), or the Holder’s brokerage firm otherwise purchases, shares of Common Stock to deliver in satisfaction
of a sale by the Holder of the Debenture Shares which the Holder was entitled to receive (a “Buy-In”), then the Company shall (A) pay in cash to the Holder (in addition to any other
remedies available to or elected by the Holder) the amount, if any, by which (x) the Holder’s total purchase price (including any brokerage commissions) for the Common Stock so purchased exceeds (y) the product of
(1) the aggregate number of Debenture Shares that the Holder was entitled to receive multiplied by (2) the actual sale price at which the sell order giving rise to such purchase obligation was executed (including any brokerage
commissions) and (B) deliver to the Holder the number of Debenture Shares that would have been issued if the Company had timely complied with its delivery requirements or, at the option of the Holder, if such Debenture Shares are Conversion
Shares or Stock Payment Shares, rescind the Notice of Conversion or Holder Redemption Notice, as applicable, at issue. For example, if the Holder purchases Common Stock having a total purchase price of eleven thousand dollars ($11,000) to cover a Buy-In with respect to a Holder Redemption Notice with respect to which the actual sale price of the Stock Payment Shares (including any brokerage commissions) giving rise to such purchase obligation was a total of
ten thousand dollars ($10,000) under clause (A) of the immediately preceding sentence, the Company shall be required to pay the Holder one thousand dollars ($1,000). The Holder shall provide the Company written notice indicating the amounts
payable to the Holder in respect of the Buy-In and, upon request of the Company, evidence of the amount of such loss. Nothing herein shall limit a Holder’s right to pursue any other remedies available to
it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Company’s failure to timely deliver Debenture Shares as required pursuant to the terms hereof. 

g)    Fractional Shares. No fractional shares or scrip representing fractional shares shall be
issued under this Debenture. As to any fraction of a share which the Holder would otherwise be entitled, the Company shall round up to the next whole share. 

h)    Transfer Taxes and Expenses. The issuance of Debenture Shares shall be made without charge to
the Holder hereof for any documentary stamp or similar taxes that may be payable in respect of the issue or delivery of such Debenture Shares. The Company shall pay all Transfer Agent fees required for processing of any issuance of

  
 24 

 
Debenture Shares and all fees to DTC (or another established clearing corporation performing similar functions) required for same-day electronic delivery
of Debenture Shares. 
 i)    Beneficial Ownership Limitation. Notwithstanding anything to the
contrary set forth in this Debenture, at no time may the Company issue to the Holder shares of Common Stock (whether as Conversion Shares, Stock Payment Shares, Monthly Redemption Advance Shares or otherwise) to the extent that after giving effect
to such issuance, the Holder (together with the Holder’s Affiliates, and any Persons acting as a group together with the Holder or any of the Holder’s Affiliates) would beneficially own in excess of the Beneficial Ownership Limitation (as
defined below). For purposes of this Section 4(i), beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. To the extent that the
limitation contained in this Section 4(i) applies, the determination of whether shares of Common Stock may be issued pursuant to this Debenture (in relation to other securities owned by the Holder together with any Affiliates)
shall be in the sole discretion of the Holder, and the submission of a Notice of Conversion or Holder Redemption Notice (at a time when this Debenture is Stock On) shall be deemed to be the Holder’s determination of whether shares of Common
Stock may be issued pursuant to this Debenture (in relation to other securities owned by the Holder together with any Affiliates) subject to the Beneficial Ownership Limitation. In addition, the Holder may notify the Company that the issuance of any
Monthly Redemption Advance Shares would cause the Holder to exceed the Beneficial Ownership Limitation, in which case, the Company shall only issue to the Holder such number of shares of Common Stock that would not cause the Holder to exceed the
Beneficial Ownership (as determined by the Holder in accordance with this Section 4(i)). To ensure compliance with this restriction, the Holder will be deemed to represent to the Company each time it delivers a Holder Redemption
Notice (at a time that this Debenture is Stock On) that such Holder Redemption Notice has not violated the restrictions set forth in this paragraph and the Company shall have no obligation to verify or confirm the accuracy of such determination. In
addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section
4(i), in determining the number of outstanding shares of Common Stock, the Holder may rely on the number of outstanding shares of Common Stock as stated in the most recent of the following: (i) the Company’s most recent
periodic or annual report filed with the Commission, as the case may be, (ii) a more recent public announcement by the Company, or (iii) a more recent written notice by the Company or the Company’s transfer agent setting forth the
number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company shall within two (2) Trading Days confirm orally and in writing to the Holder the number of shares of Common Stock then outstanding. In
any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company by the Holder or its Affiliates since the date as of which such number of outstanding

  
 25 

 
shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.9% of the number of shares of the Common Stock outstanding immediately after giving effect
to the applicable issuance of shares of Common Stock pursuant to this Debenture held by the Holder. The Holder, upon not less than sixty one (61) days’ prior notice to the Borrowers, may increase or decrease the Beneficial Ownership Limitation
provisions of this Section 4(i), provided that the Beneficial Ownership Limitation in no event exceeds 9.9% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock
pursuant to the terms of this Debenture and the Beneficial Ownership Limitation provisions of this Section 4(i) shall continue to apply. Any such increase or decrease will not be effective until the sixty first (61st) day after such notice is
delivered to the Company. The Beneficial Ownership Limitation provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 4(i) to correct this
paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation contained herein or to make changes or supplements necessary or desirable to properly give effect to such limitation. The
limitations contained in this paragraph shall apply to a successor holder of this Debenture. 

j)    Principal Market Regulation. The Company shall not issue any Debenture Shares if the issuance
thereof would exceed the aggregate number of shares of Common Stock which the Company may issue pursuant to the terms of this Debenture without breaching the Company’s obligations under the rules or regulations of the Principal Market (the
number of shares which may be issued without violating such rules and regulations, including rules related to the aggregation of offerings under NASDAQ Listing Rule 5635(d), the “Exchange Cap”), except that such limitation shall not
apply to the extent that the Company (A) obtains the approval of its stockholders as required by the applicable rules of the Principal Market for issuances of Debenture Shares in excess of such amount or (B) obtains a written opinion from
Company Counsel that such approval is not required, which opinion shall be reasonably satisfactory to the Holder. Until such approval or such written opinion is obtained, no Purchaser shall be issued Debenture Shares in an amount greater than the
product of (i) the Exchange Cap multiplied by (ii) the quotient of (A) the aggregate original principal amount of Debentures issued to such Purchaser pursuant to the Securities Purchase Agreement on the Closing Date divided by
(B) the aggregate original principal amount of all Debentures issued to the Purchasers pursuant to the Securities Purchase Agreement on the Closing Date (with respect to each Purchaser, the “Exchange Cap Allocation”). On the
Original Issue Date, the Holder’s Exchange Cap Allocation with respect to this Debenture is 4,269,522 shares of Common Stock. In the event that any Purchaser shall sell or otherwise transfer any of such Purchaser’s Debentures, the
transferee shall be allocated a pro rata portion of such Purchaser’s Exchange Cap Allocation with respect to such portion of such Debentures so transferred, and the restrictions of the prior sentence shall apply to such transferee with respect
to the portion of the Exchange Cap Allocation so allocated to such transferee. Upon the satisfaction in full of a Purchaser’s Debentures, the difference (if any) between such holder’s Exchange Cap Allocation and the number of Debenture
Shares actually issued to such holder pursuant to such holder’s Debentures shall be allocated to the respective Exchange Cap Allocations of the remaining holders of Debentures on a pro rata basis in proportion to the relative outstanding
principal amounts of the Debentures then held by each such holder. In the event that the Company is prohibited from issuing Conversion Shares pursuant to Section 4(b) of this Debenture 

  
 26 

 
because of this Section 4(j) (the “Exchange Cap Shares”), the Company shall pay cash in exchange for the cancellation of such shares of Common Stock at a price equal to
the sum of (i) the product of (x) such number of Exchange Cap Shares and (y) the last closing sale price of the Common Stock on the Principal Market (as reported by Bloomberg) on the date the Holder delivers the applicable Notice of
Conversion with respect to such Exchange Cap Shares to the Company. 
 Section 5.     Certain
Adjustments. 
 a)    Stock Dividends and Stock Splits. If the Company, at any time while this
Debenture is outstanding: (i) pays a stock dividend or otherwise makes a distribution or distributions payable in shares of Common Stock on shares of Common Stock or any Common Stock Equivalents (which, for avoidance of doubt, shall not include
any shares of Common Stock issued by the Company upon conversion of, or payment of interest on, this Debenture), (ii) subdivides outstanding shares of Common Stock into a larger number of shares, (iii) combines (including by way of a reverse
stock split) outstanding shares of Common Stock into a smaller number of shares or (iv) issues, in the event of a reclassification of shares of the Common Stock, any shares of capital stock of the Company, then the Conversion Price shall be
multiplied by a fraction of which the numerator shall be the number of shares of Common Stock (excluding any treasury shares of the Company) outstanding immediately before such event, and of which the denominator shall be the number of shares of
Common Stock outstanding immediately after such event. Any adjustment made pursuant to this Section shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution and
shall become effective immediately after the effective date in the case of a subdivision, combination or re-classification. 

b)    Subsequent Equity Sales. If, at any time while this Debenture is outstanding, the Company or
any Subsidiary, as applicable, sells or grants any option to purchase or sells or grants any right to reprice, or otherwise disposes of or issues (or announces any sale, grant or any option to purchase or other disposition), any Common Stock or
Common Stock Equivalents entitling any Person to acquire shares of Common Stock at an effective price per share that is lower than the then Conversion Price (such issuances, collectively, a “Dilutive Issuance”) (if the holder of the
Common Stock or Common Stock Equivalents so issued shall at any time, whether by operation of purchase price adjustments, reset provisions, floating conversion, exercise or exchange prices or otherwise, or due to warrants, options or rights per
share which are issued in connection with such issuance, be entitled to receive shares of Common Stock at an effective price per share that is lower than the Conversion Price, such issuance shall be deemed to have occurred for less than the
Conversion Price on such date of the Dilutive Issuance), then the Conversion Price shall be reduced and only reduced to an amount equal to the product obtained by multiplying the Conversion Price by a fraction, the numerator of which is the number
of shares of Common Stock issued and outstanding immediately prior to the Dilutive Issuance plus the number of shares of Common Stock which the aggregate offering price for such Dilutive Issuance would purchase at the then Conversion Price,

  
 27 

 
and the denominator of which shall be the sum of the number of shares of Common Stock issued and outstanding immediately prior to the Dilutive Issuance plus the number of shares of Common Stock
so issued or issuable in connection with the Dilutive Issuance (such product, the “Base Conversion Price”). Such adjustment shall be made whenever such Common Stock or Common Stock Equivalents are issued. Notwithstanding the
foregoing, no adjustment will be made under this Section 5(b) in respect of an Exempt Issuance. If the Company enters into a Variable Rate Transaction, despite the prohibition set forth in the Purchase Agreement, the Company shall be deemed
to have issued Common Stock or Common Stock Equivalents at the lowest possible conversion price at which such securities may be converted or exercised. The Company shall notify the Holder in writing, no later than the Trading Day following the
issuance of any Common Stock or Common Stock Equivalents subject to this Section 5(b), indicating therein the applicable issuance price, or applicable reset price, exchange price, conversion price and other pricing terms (such notice, the
“Dilutive Issuance Notice”). For purposes of clarification, whether or not the Company provides a Dilutive Issuance Notice pursuant to this Section 5(b), upon the occurrence of any Dilutive Issuance, the Holder is entitled to
receive a number of Conversion Shares based upon the Base Conversion Price on or after the date of such Dilutive Issuance, regardless of whether the Holder accurately refers to the Base Conversion Price in the Notice of Conversion. 

c)    Subsequent Rights Offerings. In addition to any adjustments pursuant to Section 5(a)
above, if at any time the Company grants, issues or sells any Common Stock Equivalents or rights to purchase stock, warrants, securities or other property pro rata to the record holders of any class of shares of Common Stock (the “Purchase
Rights”), then the Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired if the Holder had held the number of shares of Common Stock
acquirable upon complete conversion of this Debenture (without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date on which a record is taken for the grant,
issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights (provided, however, to the extent
that the Holder’s right to participate in any such Purchase Right would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Purchase Right to such extent (or
beneficial ownership of such shares of Common Stock as a result of such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance for the Holder until such time, if ever, as its right thereto would not result in
the Holder exceeding the Beneficial Ownership Limitation). 
 d)    Pro Rata Distributions. During
such time as this Debenture is outstanding, if the Company shall declare or make any dividend or other distribution of its assets (or rights to acquire its assets) to holders of shares of Common Stock, by way of return of capital or otherwise
(including, without limitation, any distribution of cash, stock or other 

  
 28 

 
securities, property or options by way of a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a “Distribution”),
at any time after the issuance of this Debenture, then, in each such case, the Holder shall be entitled to participate in such Distribution to the same extent that the Holder would have participated therein if the Holder had held the number of
shares of Common Stock acquirable upon complete exercise of this Debenture (without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date of which a record is
taken for such Distribution, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the participation in such Distribution (provided, however, to the extent that the
Holder’s right to participate in any such Distribution would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Distribution to such extent (or in the beneficial
ownership of any shares of Common Stock as a result of such Distribution to such extent) and the portion of such Distribution shall be held in abeyance for the benefit of the Holder until such time, if ever, as its right thereto would not result in
the Holder exceeding the Beneficial Ownership Limitation). 
 e)    Fundamental Transaction. If,
at any time while this Debenture is outstanding, the Company effects a Fundamental Transaction, then, upon any subsequent conversion of this Debenture, the Holder shall have the right to receive, for each Conversion Share that would have been
issuable upon such conversion immediately prior to the occurrence of such Fundamental Transaction (without regard to any limitation in Section 4(i) or Section 4(j) on the conversion of this Debenture), the number of shares of Common
Stock of the successor or acquiring corporation or of the Company, if it is the surviving corporation, and any additional consideration (the “Alternate Consideration”) receivable as a result of such Fundamental Transaction by a
holder of the number of shares of Common Stock for which this Debenture is convertible immediately prior to such Fundamental Transaction (without regard to any limitation in Section 4(i) or Section 4(j) on the conversion of this
Debenture). For the purposes of any such conversion, the determination of the Conversion Price shall be appropriately adjusted to apply to such Alternate Consideration based on the amount of Alternate Consideration issuable in respect of one
(1) share of Common Stock in such Fundamental Transaction, and the Company shall apportion the Conversion Price among the Alternate Consideration in a reasonable manner reflecting the relative value of any different components of the Alternate
Consideration. If holders of Common Stock are given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the Holder shall be given the same choice as to the Alternate Consideration it receives upon any
conversion of this Debenture following such Fundamental Transaction. The Company shall cause any successor entity in a Fundamental Transaction in which the Company is not the survivor (the “Successor Entity”) to assume in writing
all of the obligations of the Company under this Debenture and the other Transaction Documents (as defined in the Purchase Agreement) in accordance with the provisions of this Section 5(e) pursuant to written agreements in form and substance
reasonably satisfactory to the Holder and 

  
 29 

 
approved by the Holder (without unreasonable delay) prior to such Fundamental Transaction and shall, at the option of the holder of this Debenture, deliver to the Holder in exchange for this
Debenture a security of the Successor Entity evidenced by a written instrument substantially similar in form and substance to this Debenture which is convertible for a corresponding number of shares of capital stock of such Successor Entity (or its
parent entity) equivalent to the shares of Common Stock acquirable and receivable upon conversion of this Debenture (without regard to any limitations on the conversion of this Debenture) prior to such Fundamental Transaction, and with a conversion
price which applies the conversion price hereunder to such shares of capital stock (but taking into account the relative value of the shares of Common Stock pursuant to such Fundamental Transaction and the value of such shares of capital stock, such
number of shares of capital stock and such conversion price being for the purpose of protecting the economic value of this Debenture immediately prior to the consummation of such Fundamental Transaction), and which is reasonably satisfactory in form
and substance to the Holder. Upon the occurrence of any such Fundamental Transaction, the Successor Entity shall succeed to, and be substituted for (so that from and after the date of such Fundamental Transaction, the provisions of this Debenture
and the other Transaction Documents referring to the “Company” shall refer instead to the Successor Entity), and may exercise every right and power of the Company and shall assume all of the obligations of the Company under this Debenture
and the other Transaction Documents with the same effect as if such Successor Entity had been named as the Company herein. For the avoidance of doubt, nothing in this Section 5(e) shall be deemed implied consent to any Fundamental Transaction
otherwise prohibited by the Transaction Documents. 
 f)    Calculations. All calculations under
this Section 5 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be. For purposes of this Section 5, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall be
the sum of the number of shares of Common Stock (excluding any treasury shares of the Company) issued and outstanding. 

g)    Notice to the Holder. 

i.    Adjustment to Conversion Price. Whenever the Conversion Price is adjusted pursuant to any
provision of this Section 5, the Company shall promptly deliver to the Holder a notice setting forth the Conversion Price after such adjustment and setting forth a brief statement of the facts requiring such adjustment.

 ii.    Notice to Allow Conversion by Holder. If (A) the Company shall declare a dividend
(or any other distribution in whatever form) on the Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the Company shall authorize the granting to all holders of the
Common Stock of rights or warrants to subscribe for or purchase any shares of capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall be required in connection with any reclassification of the
Common Stock, any 

  
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Fundamental Transaction, Change of Control, consolidation or merger to which the Company is a party, any sale or transfer of all or substantially all of the assets of the Company, or any
compulsory share exchange whereby the Common Stock is converted into other securities, cash or property or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company, then,
in each case, the Company shall cause to be filed at each office or agency maintained for the purpose of conversion of this Debenture, and shall cause to be delivered to the Holder at its last address as it shall appear upon the Debenture Register,
at least twenty (20) calendar days prior to the applicable record or effective date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the purpose of such dividend, distribution, redemption, rights or
warrants, or if a record is not to be taken, the date as of which the holders of the Common Stock of record to be entitled to such dividend, distributions, redemption, rights or warrants are to be determined or (y) the date on which such
reclassification, consolidation, merger, sale, transfer or share exchange is expected to become effective or close, and the date as of which it is expected that holders of the Common Stock of record shall be entitled to exchange their shares of the
Common Stock for securities, cash or other property deliverable upon such reclassification, consolidation, merger, sale, transfer or share exchange, provided that the failure to deliver such notice or any defect therein or in the delivery thereof
shall not affect the validity of the corporate action required to be specified in such notice. To the extent that any notice provided hereunder constitutes, or contains, material, non-public information
regarding the Company or any of the Subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant to a Current Report on Form 8-K filed with the Commission. The Holder shall
remain entitled to convert this Debenture during the 20-day period commencing on the date of such notice through the effective date of the event triggering such notice except as may otherwise be expressly set
forth herein. 
 Section 6.    Covenants. 

a)    As long as any portion of this Debenture remains outstanding, and unless the Holder shall have
otherwise given prior written consent, the Company shall not, and shall not permit any of the Subsidiaries to, directly or indirectly: 

i.    other than Permitted Indebtedness, enter into, create, incur, assume, guarantee or suffer to exist
any Indebtedness of any kind, including, but not limited to, a guarantee, on or with respect to any of its property or assets now owned or hereafter acquired or any interest therein or any income or profits therefrom. For the avoidance of doubt, in
no event shall the Company become an obligor under, a guarantor of or otherwise liable for any Indebtedness or other obligations of Allenex or any direct or indirect Subsidiaries of Allenex (collectively, “Allenex Indebtedness”),
including without limitation, (A) under the term loan facility and credit facility with Danske Bank A/S, (B) any Indebtedness or obligations owed to SSP Primers AB, or (C) any Indebtedness or obligations owed to FastPartner AB, Midroc
AB, Xenella Holding AB and Mohammed Al Amoudi and the Affiliates of each of the foregoing (collectively, the “Allenex Vendors”) pursuant to the outstanding loans from the Allenex Vendors to Allenex; 

  
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 ii.    other than Permitted Liens, enter into, create, incur,
assume or suffer to exist any Liens of any kind, on or with respect to any of its property or assets now owned or hereafter acquired or any interest therein or any income or profits therefrom; 

iii.    make or hold any Investments, including, without limitation, making or holding any Investment in a
Subsidiary that is not a Guarantor, other than Permitted Investments; 
 iv.    other than Permitted
Dispositions, Dispose of any its assets, including, without limitation, any Disposition to a Subsidiary that is not a Guarantor, unless such Subsidiary immediately becomes a Guarantor; 

v.    amend its charter documents, including, without limitation, its certificate of incorporation and
bylaws, in any manner that adversely affects any rights of the Holder under the Transaction Documents in any material respect; 

vi.    merge, dissolve, liquidate, consolidate with or into another Person, or otherwise suffer or permit a
Change of Control Transaction or Fundamental Transaction; provided, however, that the Company may, without the Holder’s consent, cause any Domestic Subsidiary to be merged with and into the Company or another Domestic Subsidiary,
provided such surviving Domestic Subsidiary, if not already a party to the Security Agreement, promptly executes a joinder thereto, provided, further, in no event shall any such merger result in the Company or any Domestic Subsidiary assuming or
otherwise becoming liable for any Allenex Indebtedness; and provided further, that the Company may, without the Holder’s consent, enter into a Change of Control Transaction or Fundamental Transaction pursuant to which the Company is
acquired (or deemed acquired) by an un-Affiliated third party (a) that is a corporation organized or existing under the laws of the state of Delaware or the laws of the United States, any state thereof or
the District of Columbia and has its principal place of business in the United States, (b) that has a market capitalization, as of the date of the closing of such Change of Control Transaction or Fundamental Transaction, as applicable, equal to
or greater than the market capitalization of the Company as of immediately prior to such Change of Control Transaction or Fundamental Transaction, as applicable, (c) whose primary shares are publicly traded on the NYSE MKT, the Nasdaq Global
Select Market, the Nasdaq Global Market, the Nasdaq Capital Market or the New York Stock Exchange, in any case, as of the closing of such Change of Control Transaction or Fundamental Transaction, as applicable, (d) the Company and the successor
corporation comply with Section 5(e) of this Debenture, (e) immediately after giving effect to such transaction, no Event of Default, and no event that, after notice or lapse of time or both, would become an Event of Default, shall have
occurred and be continuing, (f) the successor corporation shall be in compliance with Section 6(a)(i) and Section 6(a)(ii) immediately after giving effect to 

  
 32 

 
such transaction and the other terms and conditions of the Transaction Documents, (g) the shares of common stock of the successor shall have similar or greater average daily dollar trading
volume as the average daily dollar trading volume for shares of Common Stock of the Company in the six (6) months prior to the transaction, (h) the successor corporation, immediately after giving effect to such transaction, shall have a
substantially similar, or superior, financial condition as the Company’s financial condition immediately prior to such transaction, including, by way of example, as to net assets, liabilities, and net income and (i) notwithstanding any
other provision of this Section 6(a)(vi), no transaction shall place the Holder in a worse credit risk situation, given the totality of the circumstances, than the Holder was in, considering the credit profile of the Company on the Original
Issue Date or immediately prior to the transaction, whichever credit profile was stronger. 

vii.    repay, repurchase or offer to repay, repurchase or otherwise acquire any of its Equity Interests
other than repurchases of Common Stock or Common Stock Equivalents of departing officers, directors and employees of the Company, provided that such repurchases shall not exceed an aggregate of $200,000 for all officers, directors and employees
during the term of this Debenture; 
 viii.    repay, repurchase or offer to repay, repurchase or
otherwise acquire any Indebtedness other than (i) this Debenture and (ii) regularly scheduled principal and interest payments under the terms of any Permitted Indebtedness, provided that any such payments of Permitted Indebtedness shall
not be permitted if, at such time, or after giving effect to such payment, any Event of Default exists or occurs and is continuing; 

ix.    pay dividends or distributions on any of its Equity Securities, except that any Subsidiary may,
directly or indirectly, pay any dividend or distribution to the Company; 
 x.    create any new
Subsidiary unless such Subsidiary is promptly added as a Guarantor and promptly executes a joinder to the Subsidiary Guaranty and Security Agreement; 

xi.    enter into any transaction with any Affiliate of the Company which would be required to be disclosed
in any public filing with the Commission, unless such transaction is made on an arm’s-length basis and expressly approved by a majority of the disinterested directors of the Company (even if less than a
quorum otherwise required for board approval); 
 xii.    maintain deposit accounts, or accounts holding
investment property, except (i) with respect to which the Agent has an Account Control Agreement, (ii) which hold a balance of no more than Five Hundred Thousand Dollars ($500,000), and (iii) for accounts of Foreign Subsidiaries in
existence on the Original Issue Date; or 

  
 33 

 xiii.    enter into any agreement with respect to any of the
foregoing. 
 b)    Blocked Account. The Company shall, at all times while this Debenture remains
outstanding, maintain on deposit in a segregated account of the Company at Comerica (the “Blocked Account”) an amount of unencumbered cash equal to $9,375,000. Such account shall be subject to an Account Control Agreement which
shall be in substantially the form of Comerica’s hard account agreement and otherwise reasonably acceptable to the Holder (the “Blocked Account Agreement”). 

c)    Equity Issuances. Nothing herein shall prohibit the Company from issuing any Equity Interests
in any transaction the primary purpose of which is to provide financing to the Company, except that the Company shall not be permitted to issue any Disqualified Stock. 

d)    Gross Profit. With respect to each calculation date set forth below (each a
“Calculation Date”), Gross Profit for the twelve consecutive month period ended on such Calculation Date shall not be less than the “Gross Profit Target” set forth opposite such Calculation Date: 

 

					
	Calculation Date	  	Gross Profit Target	 
	March 31, 2017	  	$	17,000,000	 
	June 30, 2017	  	$	17,000,000	 
	September 30, 2017	  	$	17,500,000	 
	December 31, 2017	  	$	18,000,000	 
	March 31, 2018	  	$	18,000,000	 
	June 30, 2018	  	$	18,000,000	 
	September 30, 2018	  	$	18,000,000	 
	December 31, 2018	  	$	18,000,000	 
	March 31, 2019	  	$	18,000,000	 
	June 30, 2019	  	$	18,000,000	 
	September 30, 2019	  	$	18,000,000	 
	December 31, 2019	  	$	18,000,000	 

  
 34 

 In the event of any breach of this Section 6(d) with respect to a specific
Calculation Date, the Company may cure such breach for such specific Calculation Date to the extent that: (1) the amount by which actual Gross Profit for such Calculation Date is less than the Gross Profit Target for such Calculation Date (the
“Gross Profit Shortfall”) does not exceed One Million Five Hundred Thousand Dollars ($1,500,000) and (2) by not later than fifty (50) days after such Calculation Date, the Company offers to redeem (and if such offer of
redemption is accepted by the Holder, promptly, but in any event not later than sixty (60) days after such Calculation Date, actually redeems) a portion of this Debenture equal to the Holder’s Pro Rata Share of an amount equal to 3x the
Gross Profit Shortfall for a redemption price equal to the Gross Profit Shortfall Redemption Price. Any offer to redeem a portion of this Debenture pursuant to this Section 6(d) shall also be made to the holders of the other outstanding Debentures.
For the avoidance of doubt, if the Gross Profit Shortfall for any Calculation Date exceeds One Million Five Hundred Thousand Dollars ($1,500,000) such breach cannot be cured and shall constitute an immediate Event of Default hereunder. For the
further avoidance of doubt, payment of the Gross Profit Shortfall Redemption Price with respect to a breach of this Section 6(d) for a specific Calculation Date shall only be deemed to cure the breach of this this Section
6(d) for that specific Calculation Date and shall not serve to cure any subsequent breach of this Section 6(d). With respect to each of the December 31, 2017, December 31, 2018, and December 31, 2019 calculation dates, in
the event of a breach of this Section 6(d), the Company shall publicly disclose Gross Profit within forty five (45) days thereafter, and in any event, prior to disclosing Gross Profit to the Holder. 

e)    Commercial Launch. Commercial Launch Milestone #1 shall be achieved for the fiscal quarter
ended March 31, 2018, Commercial Launch Milestone #2 shall be achieved for the fiscal quarter ended June 30, 2018, and Commercial Launch Milestone #3 shall be achieved for the fiscal quarter ended September 30, 2018; provided,
however, if any Commercial Launch Milestone has not been achieved in the corresponding fiscal quarter, it shall not be deemed an Event of Default hereunder to the extent that: (1) Commercial Launch Milestone #1 is achieved no later than the
fiscal quarter ended June 30, 2018, (2) Commercial Launch Milestone #2 is achieved no later than the fiscal quarter ended September 30, 2018, (3) Commercial Launch Milestone #3 is achieved no later than the fiscal quarter ended
December 31, 2018, (4) the Company offers to redeem (and if such offer of redemption is accepted by the Holder, promptly, but in any event not later than May 1, 2018, actually redeems) a portion of this Debenture equal to One Million Five
Hundred Thousand Dollars ($1,500,000) for a redemption price of One Million Six Hundred Twenty Thousand Dollars ($1,620,000), if the Commercial Launch Milestone #1 has not been achieved by March 31, 2018, (5) the Company offers to redeem (and
if such offer of redemption is accepted by the Holder, promptly, but in any event not later than August 1, 2018, actually redeems) a portion of this Debenture equal to Two Million Dollars ($2,000,000) for a redemption price of Two Million One
Hundred Sixty Thousand Dollars ($2,160,000), if the Commercial Launch Milestone #2 has not been achieved by June 30, 2018 and (6) the Company offers to redeem (and if such offer of redemption is accepted by the Holder, promptly, but in any
event not later than October 1, 2018, actually redeems) a portion of this Debenture equal to Three Million Dollars ($3,000,000) for a redemption price of Three Million Two Hundred Forty 

  
 35 

 
Thousand Dollars ($3,240,000), if the Commercial Launch Milestone #3 has not been achieved by September 30, 2018. Any offer to redeem a portion of this Debenture pursuant to this Section
6(e) shall also be made to the holders of the other outstanding Debentures. If the Company does not make any payment required by this Section 6(e), it shall be an immediate Event of Default hereunder. The Company shall publicly disclose each
Commercial Launch Milestone within five (5) Business Days of the achievement thereof by means of a Current Report Form 8-K filed with the Commission. 

f)    Compliance Certificate. The Company shall, within one Trading Day of the Company’s filing
of each Quarterly Report on Form 10-Q and each Annual Report on Form 10-K with the Commission (but in any event not later than 45 days after the last day of each
calendar quarter, except in the case of the calendar quarter ended December 31, 90 days thereafter), deliver to the Holder a compliance certificate executed by the Company’s chief executive officer or chief financial officer containing a
calculation of Gross Profit for the applicable calendar quarter, stating that no Events of Default have occurred since the date of the last compliance certificate (or, in the case of the initial compliance certificate, the Original Issue Date) and
certifying that no new Subsidiaries have been formed or acquired since the date of the prior compliance certificate (or, in the case of the initial compliance certificate, the Original Issue Date); provided, that notwithstanding the foregoing,
without the prior written consent of the Holder, such compliance certificate shall not contain any material, non-public information and shall be derived from the information publicly available in the
Company’s reports filed with the Commission or otherwise publicly available. 

Section 7.    Events of Default. 

a)    “Event of Default” means, wherever used herein, any of the following events
(whatever the reason for such event and whether such event shall be voluntary or involuntary or effected by operation of law or pursuant to any judgment, decree or order of any court, or any order, rule or regulation of any administrative body or
Governmental Authority): 
 i.    any default in the payment of the principal amount of any Debenture,
whether on a Prepayment Date, Holder Redemption Payment Date or the Maturity Date or by acceleration or otherwise; 

ii.    any default in the payment of interest, liquidated damages and/or other amounts owing to a Holder on
any Debenture, as and when the same shall become due and payable, in each case, which such default continues for three (3) Trading Days; 

iii.    the Company shall fail to observe or perform any other covenant or agreement contained in this
Debenture (other than a breach by the Company of its obligations to deliver Debenture Shares to the Holder pursuant to the terms of this Debenture which breach is addressed in clause (ix) below) which failure is not cured, if possible to cure,
within the earlier to occur of (A) fifteen (15) Trading Days after notice of such failure sent by the Holder to the Company and (B) fifteen (15) Trading Days after 

  
 36 

 
the Company has become aware or should have become aware of such failure; provided, that any failure to observe or perform any provision of Section 6 shall be an
immediate Event of Default hereunder without any grace period; 
 iv.    a default or event of default
(subject to any grace or cure period provided in the applicable agreement, document or instrument) or any material breach shall occur under any of the Transaction Documents, which failure is not cured, if possible to cure, within fifteen
(15) Trading Days following notice of failure sent by the Holder to the Company; 
 v.    any
representation or warranty made in this Debenture or any other Transaction Documents, any written statement pursuant hereto or thereto or any other report, financial statement or certificate made or delivered to the Holder or any other Holder
pursuant to the Transaction Documents shall be untrue or incorrect in any material respect as of the date when made or deemed made; 

vi.    the Company or any Significant Subsidiary (as such term is defined in Rule 1-02(w) of Regulation S-X) shall be subject to a Bankruptcy Event; 

vii.    the Company or any Subsidiary shall default on any of its obligations under any mortgage, credit
agreement or other facility, indenture agreement, factoring agreement or other instrument under which there may be issued, or by which there may be secured or evidenced, any Indebtedness for borrowed money or money due under any long term leasing or
factoring arrangement beyond any grace period provided with respect thereto that (a) involves an obligation greater than Five Hundred Thousand Dollars ($500,000), whether such Indebtedness now exists or shall hereafter be created, and
(b) results in such Indebtedness becoming or being declared due and payable prior to the date on which it would otherwise become due and payable, in each case other than the obligations of (A) Allenex pursuant to its term loan facility and
its credit facility with Danske Bank A/S, (B) Allenex to SSP Primers AB and (C) Allenex to the Allenex Vendors pursuant to the outstanding loans from the Allenex Vendors to Allenex; 

viii.    (a) the Common Stock shall not be eligible for listing or quotation for trading on a Trading
Market and shall not be eligible to resume listing or quotation for trading thereon within five (5) Trading Days, (b) the shares of Common Stock are suspended from trading or otherwise not listed or quoted for trading on a Trading Market
for fifteen (15) Trading Days (which need not be consecutive) during any twelve (12) month period, or (c) the shares of Common Stock are suspended from trading or otherwise not listed or quoted for trading on a Trading Market for five
(5) consecutive Trading Days; provided, however, that for purposes of this subparagraph (viii), any day on which there is a general suspension of trading on the Principal Market shall be disregarded; 

ix.    the Company shall fail for any reason to deliver any Debenture Shares to a Holder on the applicable
Delivery Date therefor; 

  
 37 

 x.    the Company or any Subsidiary Guarantor shall breach
any agreement delivered to the initial Holder pursuant to Section 2.2 of the Purchase Agreement; 

xi.    the electronic transfer by the Company of shares of Common Stock through DTC or another established
clearing corporation is no longer available or is subject to a “chill” that lasts for more than three (3) Trading Days; 

xii.    a judgment not covered by insurance in excess of One Million Dollars ($1,000,000) or a judgment
that is more than One Million Dollars ($1,000,000) in excess of applicable insurance coverage, is entered against the Company and, within sixty (60) days after entry thereof, such judgment is not discharged or satisfied or execution thereof
stayed pending appeal, or within sixty (60) days after the expiration of any such stay, such judgment is not discharged or satisfied; 

xiii.    (A) Comerica fails to comply with its obligations under the Blocked Account Agreement,
(B) without limiting clause (A), Comerica notifies the Agent of its intention not to comply with the terms of the Blocked Account Agreement, or (C) the Company fails to comply, or notifies the Agent of its intention to not comply, with its
obligations under the Blocked Account Agreement; provided, however, with respect to clauses (A) and (B), it shall not be an Event of Default hereunder if (x) possession of the funds held in the Blocked Account are transferred to the Agent
or (y) the Company and the Agent enter into a new Account Control Agreement with a financial institution acceptable to Agent with respect to the funds held in the Blocked Account within ten (10) days after the occurrence of the failure or
notice, as the case may be. 
 xiv.    (A) the Company or Comerica closes the Blocked Account or
terminates the Blocked Account Agreement, or (B) without limiting clause (A), the Company or Comerica notifies the Agent of its intention to close the Blocked Account or terminate the Blocked Account Agreement; provided, however, it shall not
be an Event of Default hereunder if (x) possession of the funds held in the Blocked Account are transferred to the Agent or (y) in solely in the case of clause (B), the Company and the Agent enter into a new Account Control Agreement with
a financial institution acceptable to Agent with respect to the funds held in the Blocked Account within ten (10) days after the occurrence of the failure or notice, as the case may be; 

xv.    the Company, any Subsidiary or any named executive officer (as defined in Item 401 of Regulation S-K) of the Company shall be indicted, convicted or have a judgment entered against it (including in a settled action) for any intentional or willful violation of federal or state laws applicable to the business of
the Company and its Subsidiaries, in each case (other than in the case of an indictment), that results in a monetary fine or damages of Three Million Dollars ($3,000,000) or more; 

xvi.    if any provision of the Security Agreement shall at any time for any reason be declared to be null
and void, or the validity or enforceability thereof shall 

  
 38 

 
be contested by any Debtor (as defined in the Security Agreement), or a proceeding shall be commenced by any Debtor, or by any Governmental Authority having jurisdiction over any Debtor, seeking
to establish the invalidity or unenforceability thereof, or any Debtor shall deny that any Debtor has any liability or obligation purported to be created under the Security Agreement; 

xvii.    if the U.S. Food & Drug Administration or other U.S. Governmental Authority requires that
the Company halt or recall any Product that is expected to generate at least Three Million Dollars ($3,000,000) in revenue for the Company and its Subsidiaries in the aggregate over the following consecutive twelve (12) month period, which halt
or recall (x) lasts for more than 90 consecutive days and (y) results in (i) a “stock-out” of such Product and (ii) results in a loss of revenue to the Company of $2,000,000 or
more in the period following such halt or recall as compared to the same period in the prior year. For purposes hereof, “stock-out” means, with respect to a Product, that there is extremely limited
or no inventory of such Product available for commercial sale; or 
 xviii.    A circumstance has
occurred that would reasonably be expected to have a Material Adverse Effect and such circumstance has not been cured (if curable) within ten (10) days of the occurrence of such circumstance. 

b)    Remedies Upon Event of Default. If any Event of Default occurs and is
continuing, the outstanding principal amount of this Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder’s election,
immediately due and payable in cash at the Mandatory Default Amount; provided, that such acceleration shall be automatic, without any notice or other action of the Holder required, in respect of an Event of Default occurring pursuant to clause
(vi) of Section 7(a). For the avoidance of doubt, in no event shall the Mandatory Default Amount be payable in shares of Common Stock. Upon the payment in full of the Mandatory Default Amount in cash, the Holder shall
promptly surrender this Debenture to or as directed by the Company. In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice of any kind, and
the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law. Such acceleration may be rescinded and annulled by Holder at
any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 7(b). No such rescission or annulment shall affect any
subsequent Event of Default or impair any right consequent thereon. 

Section 8.    Miscellaneous. 

a)    Notices. Any and all notices or other communications or deliveries to be provided by the
Holder hereunder, including, without limitation, any Holder Redemption 

  
 39 

 
Notice, shall be in writing and delivered personally, by facsimile, by email attachment, or sent by a nationally recognized overnight courier service, addressed to the Company, at the address set
forth above, or such other facsimile number, email address, or address as the Company may specify for such purposes by notice to the Holder delivered in accordance with this Section 8(a). Any and all notices or other communications or
deliveries to be provided by the Company hereunder shall be in writing and delivered personally, by facsimile, by email attachment, or sent by a nationally recognized overnight courier service addressed to the Holder at the facsimile number or email
address or address of the Holder appearing on the books of the Company, or if no such facsimile number or email attachment or address appears on the books of the Company, at the principal place of business of such Holder, as set forth in the
Purchase Agreement. Any notice or other communication or deliveries hereunder shall be deemed given and effective on the earliest of (i) the date of transmission, if such notice or communication is delivered via facsimile at the facsimile
number or email attachment to the email address set forth on the signature pages attached hereto prior to 5:30 p.m. (local time in New York City, New York) (or such later time expressly specified elsewhere in this Debenture) on any date,
(ii) the next Trading Day after the date of transmission, if such notice or communication is delivered via facsimile at the facsimile number or email attachment to the email address set forth on the signature pages attached hereto on a day that
is not a Trading Day or later than 5:30 p.m. (local time in New York City, New York) (or such later time expressly specified elsewhere in this Debenture) on any Trading Day, (iii) the second Trading Day following the date of mailing, if sent by
U.S. nationally recognized overnight courier service or (iv) upon actual receipt by the party to whom such notice is required to be given. 

b)    Absolute Obligation. Except as expressly provided herein, no provision of this Debenture shall
alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of, liquidated damages and accrued interest, as applicable, on this Debenture at the time, place, and rate, and in the coin or currency, herein
prescribed. This Debenture is a direct debt obligation of the Company. 
 c)    Lost or Mutilated
Debenture. If this Debenture shall be mutilated, lost, stolen or destroyed, the Company shall execute and deliver, in exchange and substitution for and upon cancellation of a mutilated Debenture, or in lieu of or in substitution for a lost,
stolen or destroyed Debenture, a new Debenture for the principal amount of this Debenture so mutilated, lost, stolen or destroyed, but only upon receipt of evidence of such loss, theft or destruction of such Debenture, and of the ownership hereof,
reasonably satisfactory to the Company. 
 d)    Governing Law. All questions concerning the
construction, validity, enforcement and interpretation of this Debenture shall be governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflict of laws thereof.
Each party agrees that all legal proceedings concerning the interpretation, enforcement and defense of the transactions contemplated by any of the Transaction Documents (whether brought against a party hereto or its

  
 40 

 
respective Affiliates, directors, officers, shareholders, employees or agents) shall be commenced in the state and federal courts sitting in the City of New York, Borough of Manhattan (the
“New York Courts”). Each party hereto hereby irrevocably submits to the exclusive jurisdiction of the New York Courts for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated
hereby or discussed herein (including with respect to the enforcement of any of the Transaction Documents), and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the
jurisdiction of such New York Courts, or such New York Courts are improper or inconvenient venue for such proceeding. Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or
proceeding by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Debenture and agrees that such service shall constitute good
and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted by applicable law. Each party hereto hereby irrevocably waives, to the
fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or relating to this Debenture or the transactions contemplated hereby. If any party shall commence an action or proceeding to
enforce any provisions of this Debenture, then the prevailing party in such action or proceeding shall be reimbursed by the other party for its attorneys’ fees and other costs and expenses incurred in the investigation, preparation and
prosecution of such action or proceeding. 
 e)    Amendments; Waivers. Any waiver by the Company
or the Holder of a breach of any provision of this Debenture shall not operate as or be construed to be a waiver of any other breach of such provision or of any breach of any other provision of this Debenture. The failure of the Company or the
Holder to insist upon strict adherence to any term of this Debenture on one or more occasions shall not be considered a waiver or deprive that party of the right thereafter to insist upon strict adherence to that term or any other term of this
Debenture on any other occasion. Any waiver by the Company or the Holder must be in writing. Any provision of this Debenture may be waived by the Holders of at least 50.1% of the outstanding principal amount of Debentures, which waiver shall be
binding on all of the Holders of the Debentures and their successors and assigns. Any provision of this Debenture may be amended by a written instrument executed by the Company and the Holders of at least 50.1% of the outstanding principal amount of
Debentures, which amendment shall be binding on all of the Holders of the Debentures and their successors and assigns. 

f)    Severability. If any provision of this Debenture is invalid, illegal or unenforceable, the
balance of this Debenture shall remain in effect, and if any provision is inapplicable to any Person or circumstance, it shall nevertheless remain applicable to all other Persons and circumstances. If it shall be found that any interest or other
amount deemed interest due hereunder violates the applicable law governing usury, the applicable rate of interest due hereunder shall automatically be lowered to equal the maximum rate 

  
 41 

 
of interest permitted under applicable law. The Company covenants (to the extent that it may lawfully do so) that it shall not at any time insist upon, plead, or in any manner whatsoever claim or
take the benefit or advantage of, any stay, extension or usury law or other law which would prohibit or forgive the Company from paying all or any portion of the principal of or interest on this Debenture as contemplated herein, wherever enacted,
now or at any time hereafter in force, or which may affect the covenants or the performance of this Debenture, and the Company (to the extent it may lawfully do so) hereby expressly waives all benefits or advantage of any such law, and covenants
that it will not, by resort to any such law, hinder, delay or impede the execution of any power herein granted to the Holder, but will suffer and permit the execution of every such as though no such law has been enacted. 

g)    Remedies, Characterizations, Other Obligations, Breaches and Injunctive Relief. The
remedies provided in this Debenture shall be cumulative and in addition to all other remedies available under this Debenture and any of the other Transaction Documents at law or in equity (including a decree of specific performance and/or other
injunctive relief), and nothing herein shall limit the Holder’s right to pursue actual and consequential damages for any failure by the Company to comply with the terms of this Debenture. The Company covenants to the Holder that there
shall be no characterization concerning this instrument other than as expressly provided herein. Amounts set forth or provided for herein with respect to payments, conversion and the like (and the computation thereof) shall be the amounts to be
received by the Holder and shall not, except as expressly provided herein, be subject to any other obligation of the Company (or the performance thereof). The Company acknowledges that a breach by it of its obligations hereunder will cause
irreparable harm to the Holder and that the remedy at law for any such breach may be inadequate. The Company therefore agrees that, in the event of any such breach or threatened breach, the Holder shall be entitled, in addition to all other
available remedies, to an injunction restraining any such breach or any such threatened breach, without the necessity of showing economic loss and without any bond or other security being required. The Company shall provide all information and
documentation to the Holder that is reasonably requested by the Holder to enable the Holder to confirm the Company’s compliance with the terms and conditions of this Debenture. 

h)    Next Business Day. Whenever any payment or other obligation hereunder shall be due on a day
other than a Business Day, such payment shall be made on the next succeeding Business Day. 

i)    Headings. The headings contained herein are for convenience only, do not constitute a part of
this Debenture and shall not be deemed to limit or affect any of the provisions hereof. 

j)    Secured Obligation. The obligations of the Company under this Debenture are secured by the
Collateral pledged by the Company pursuant to the Security Agreement, dated as of the date hereof, between the Grantors (as defined therein) and the 

  
 42 

 
Agent. For the avoidance of doubt, and notwithstanding anything contained herein to the contrary, subject to Permitted Liens, the Holder shall have the first lien over all Collateral, which will
rank higher than any other creditor of the Company or its Subsidiaries, to the extent permitted by law. 

k)    Limitation of Liability. Neither Holder, Agent nor any Affiliate, officer, director, employee,
attorney, or agent of Holder or Agent shall have any liability with respect to, and the Company hereby waives, releases, and agrees not to sue any of them upon, any claim for any special, indirect, incidental, or consequential damages suffered or
incurred by the Company in connection with, arising out of, or in any way related to, this Debenture or any of the other Transaction Documents, or any of the transactions contemplated by this Agreement or any of the other Transaction Documents. The
Company hereby waives, releases, and agrees not to sue Holder, Agent or any of Holder’s or Agent’s Affiliates, officers, directors, employees, attorneys, or agents for punitive damages in respect of any claim in connection with, arising
out of, or in any way related to, this Debenture or any of the other Transaction Documents, or any of the transactions contemplated by this Debenture or any of the other Transaction Documents. Notwithstanding the foregoing, nothing in this provision
shall be interpreted as waiving any right of the Company to any action based upon any material breach of the Transaction Documents or material violations by any Holder or Agent of state or federal securities laws or any conduct by any Holder which
constitutes fraud, gross negligence, willful misconduct or malfeasance). 
 ********************* 

(Signature Pages Follow) 

  
 43 

 IN WITNESS WHEREOF, the parties below have caused this Debenture to be duly executed by a duly
authorized officer as of the date first above indicated. 
  

			
	 CAREDX, INC.

		
	By:	 	 /s/ Charles Constanti

	Name:	 	Charles Constanti
	Title:	 	Chief Financial Officer and Secretary
	Facsimile No. for delivery of Notices:                     
	E-mail Address for delivery of Notices:                   
	
	JGB Capital, LP
		
	By:	 	 /s/ Brett Cohen

	Name:	 	Brett Cohen
	Title:	 	President
	Facsimile No. for delivery of Notices: (212) 253-4093
	E-mail Address(es) for delivery of Notices:
	sehrenberg@jgbcap.com, bcohen@jgbcap.com,
	jwhite@jgbcap.com
	
	JGB (Cayman) Port Charlotte, Ltd.
		
	By:	 	 /s/ Brett Cohen

	Name:	 	Brett Cohen
	Title:	 	President
	Facsimile No. for delivery of Notices: (212) 253-4093
	E-mail Address(es) for delivery of Notices:
	sehrenberg@jgbcap.com, bcohen@jgbcap.com,
	jwhite@jgbcap.com
	
	JGB Partners, LP
		
	By:	 	 /s/ Brett Cohen

	Name:	 	Brett Cohen
	Title:	 	President
	Facsimile No. for delivery of Notices: (212) 253-4093
	E-mail Address(es) for delivery of Notices:
	sehrenberg@jgbcap.com, bcohen@jgbcap.com,
	jwhite@jgbcap.com

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00268-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00268-of-00352.parquet"}]]