Document:

Exhibit 10.8

 

_________, 2019

LGL Systems Acquisition Corp.

165 W. Liberty St., Suite 220

Reno, NV 89501

 

Jefferies LLC

520 Madison Avenue, 2nd
Floor

New York, New York 10022

 

	 	Re:	Initial Public Offering

 

Ladies and Gentlemen:

 

Each of the undersigned
hereby agrees that until the earliest of an initial merger, share exchange, asset acquisition, stock purchase, recapitalization,
reorganization or other similar business combination (a “business combination”) by LGL Systems Acquisition Corp. (the
“Company”) or the Company’s liquidation, the undersigned shall seek to source and shall present to the Company
for its consideration, prior to presentation to any other entity, any potential investment or acquisition opportunity in a business
or businesses having an enterprise value at least equal to $350 million, subject to any pre-existing fiduciary or contractual obligations
the undersigned may have, and will not enter into any agreement to purchase or invest in such business or businesses, unless the
Company determines not to pursue such potential acquisition.

 

Robert V. LaPenta hereby agrees not to become an officer or director of any other special purpose acquisition company with a class of securities
intended to be registered under the Securities Exchange Act of 1934, as amended, which has publicly filed a registration statement
with the U.S. Securities and Exchange Commission until the Company has entered into a definitive agreement regarding an initial
business combination or the Company has failed to complete an initial business combination within the time period required by its
amended and restated certificate of incorporation, as it may be amended from time to time.

 

Each of the undersigned
hereby acknowledges that the Company has established a trust account (the “Trust Account”) containing the proceeds
of its initial public offering (the “IPO”) and from certain private placements occurring simultaneously with the IPO
(including interest accrued from time to time thereon) for the benefit of the Company’s public stockholders and certain other
parties (including the underwriters of the IPO). For and in consideration of the Company entering into this Agreement, and for
other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, each of the undersigned hereby
agrees that it or he does not now and shall not at any time hereafter have any right, title, interest or claim of any kind in or
to any assets held in the Trust Account, and shall not make any claim against the Trust Account, regardless of whether such claim
arises as a result of, in connection with or relating in any way to this Agreement or any other matter, and regardless of whether
such claim arises based on contract, tort, equity or any other theory of legal liability (any and all such claims are collectively
referred to hereafter as the “Released Claims”). Each of the undersigned hereby irrevocably waives any Released Claims
that it may have against the Trust Account now or in the future as a result of, or arising out of, any negotiations, contracts
or agreements with the Company and will not seek recourse against the Trust Account for any reason whatsoever.

 

This Agreement
shall become effective on the date first written above and shall remain in effect for a period to expire on the earlier of (i)
the consummation by the Company of its initial business combination or (ii) the Company’s liquidation.

 

This agreement
constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter hereof and supersedes
all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the extent they relate
in any way to the subject matter hereof. This agreement may not be changed, amended, modified
or waived (other than to correct a typographical error) as to any particular provision, except by a written instrument executed
by all parties hereto.

 

	 	ASTON CAPITAL, LLC
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 
	 	 
	 	Robert V. LaPenta
	 	 	 
	 	Acknowledged and Agreed:
	 	 
	 	LGL Systems Acquisition Corp.
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:Blueprint

 

Exhibit 10.1

 

FIRST AMENDMENT TO

ASSET PURCHASE AGREEMENT

 

This First Amendment to Asset Purchase Agreement
(this “First Amendment”) is entered into by and
between Aytu Bioscience, Inc., a Delaware corporation
(“Buyer”), and Cerecor
Inc., a Delaware corporation (“Seller”), as of November
1, 2019.

 

WHEREAS, Buyer and Seller are parties to
that certain Asset Purchase Agreement
dated October 10, 2019 (the “Original
Agreement”);
and

 

WHEREAS, pursuant to Section 7.10 thereof, Buyer and
Seller wish to amend the Original Agreement on the terms and
conditions set forth in this First Amendment.

 

NOW,
THEREFORE, in consideration of
the foregoing and the mutual promises set forth herein and in the
Original Agreement, the parties agree as
follows:

 

1. Capitalized
Terms. Capitalized terms used
but not otherwise defined herein shall have the meanings ascribed
to them in the Original
Agreement.

 

2. Amendment of Section 1.1. The
definition of “Aytu Preferred Stock” in Section 1.1 of
the Original Agreement is hereby deleted in its entirety and
replaced with the following:

 

“Aytu Preferred Stock”
means a series of convertible preferred stock of Buyer having the
terms and conditions set forth in the form of Preferred Stock
Designation in Exhibit 1.1 hereto, which shall be
non-transferable for a period beginning on the date of issuance and
ending on the earlier of (i) July 1, 2020 or (ii) the date such
preferred stock is converted into shares of AYTU Common
Stock.”

 

3. Amendment of Section 1.1. The
definition of “Deerfield Obligation” in Section 1.1 of
the Original Agreement is hereby deleted in its entirety and
replaced with the following:

 

“Deerfield Obligation”
means (i) the remaining Fixed Payments (as defined in the Deerfield
Agreement and amended by the Deerfield Waiver) beginning on October
31, 2019, totaling $16,575,000, and detailed on Appendix A of the
Deerfield Waiver, and (ii) the Deferred Consideration (as
defined in the Deerfield Agreement and amended by the Deerfield
Waiver).”

 

Additionally, any
references to the Deerfield Obligation in the Schedules are also
hereby amended to reflect such obligations as stated in Appendix A
to the Deerfield Waiver.

 

4. Amendment of Section 6.3(f).
Section 6.3(f) of the Original Agreement is hereby deleted in its
entirety and replaced with the following:

 

“The
aggregate amount required to be paid by Seller under Sections 6.1(a)-(b) or by Buyer
under Sections 6.2
(a)-(b) shall not exceed the Cash
Consideration.”

 

 

1

 

 

5. Amendment of Schedule
2.2(a)(ii). Schedule 2.2(a)(ii) attached to the Original
Agreement is hereby deleted in its entirety and replaced with
Schedule 2.2(a)(ii) attached hereto as Exhibit A.

 

6. Amendment to Schedule
2.2(a)(iii). Schedule 2.2(a)(iii) attached to the Original
Agreement is modified such that the information under the heading
“Domain Name
Registrations” is hereby deleted in its entirety and
replaced with the information attached hereto as Exhibit B.

 

7. Amendment to Supply Agreement
Reference. All references to the “Supply and
Distribution Agreement between Tris Pharmaceuticals, Inc. and FSC
Laboratories, Inc., dated August 9, 2013, as amended August 13,
2014 and February 24, 2016 (related to Karbinal ER)” included
in the Original Agreement and Schedules are hereby deleted in their
entirety and replaced with the “Supply and Distribution
Agreement between Tris Pharmaceuticals, Inc. and FSC Laboratories,
Inc., dated August 9, 2013, as amended August 13, 2014, February
24, 2016 and October 29, 2019 (related to Karbinal
ER)”.

 

8. Amendment of Exhibit 1.1. The
Form of Preferred Stock Designation attached as Exhibit 1.1 of the
Original Agreement is hereby deleted in its entirety and replaced
with the Form of Preferred Stock Designation attached hereto as
Exhibit
C.

 

9. Full Force and Effect. Except
as modified and amended by this First Amendment, the terms and
conditions of the Original Agreement remain in full force and
effect.

 

10.
Conflict. In the event of
conflict between the provisions of the Original Agreement and this
First Amendment, the provisions of this First Amendment shall
control.

 

11. Counterparts; Electronic
Signatures. This First Amendment may be executed in one or
more counterparts (including by transmission-mail), all of which
shall be considered one and the same agreement and shall become
effective when one or more counterparts have been signed by each of
the parties and delivered to the other party.

 

[signature page follows]

 

 

2

 

IN
WITNESS WHEREOF, the parties have caused this First Amendment to be
duly executed as of the date first set forth above.

 

 

BUYER:

 

AYTU
BIOSCIENCE, INC.

 

By:
/s/ Joshua R.
Disbrow                     

Name:
Joshua R.
Disbrow                     

Title
___________________________

 

 

SELLER:

 

CERECOR
INC.

 

By:
_____________________________

Name:
__________________________

Title:
___________________________

 

 

 

 

3Blueprint

  Exhibit 10.2

 

REGISTRATION RIGHTS AGREEMENT

 

This
Registration Rights Agreement (this “Agreement”) is made and
entered into as of November 1, 2019, between Aytu BioScience, Inc.,
a Delaware corporation (the “Company”), and Cerecor,
Inc. (“Cerecor”).

 
November

               This
Agreement is made pursuant to the Asset Purchase Agreement, dated
as of the date hereof, between the Company and Cerecor (the
“Purchase
Agreement”).

 

               The
Company and Cerecor hereby agrees as follows:

 

1.            
Definitions.

 

               Capitalized
terms used and not otherwise defined herein that are defined in the
Purchase Agreement shall have the meanings given such terms in the
Purchase Agreement. As used in this Agreement, the following
terms shall have the following meanings:

 

“Commission” means the
United States Securities and Exchange Commission.

 

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

 

“Effectiveness Date”
means, with respect to the Registration Statement required to be
filed hereunder, the 120th calendar day
following the date that is the later of (i) the effectiveness date
of the registration statement related to the Pipe Transaction and
(ii) the effectiveness date of the registration statement related
to the Innovus Transaction (or, in the event of a “full
review” by the Commission, the 150th calendar day
following the date hereof).

 

“Effectiveness Period”
shall have the meaning set forth in Section 2(a).

 

“Event” shall have the
meaning set forth in Section 2(d).

 

“Event Date” shall have
the meaning set forth in Section 2(d).

 

“Filing Date” means, with
respect to the Registration Statement required hereunder, the
45th
calendar day following the date of the later of (i) the
effectiveness date of the registration statement related to the
Pipe Transaction and (ii) the effectiveness date of the
registration statement related to the Innovus
Transaction.

 

“Holder” or
“Holders” means the holder
or holders, as the case may be, from time to time of Registrable
Securities.

 

“Indemnified Party” shall
have the meaning set forth in Section 5(c).

 

 

 

 

“Indemnifying Party” shall
have the meaning set forth in Section 5(c).

 

“Innovus Transaction”
means the Company’s potential acquisition of Innovus, Inc.
pursuant to that Agreement and Plan of Merger, dated September 12,
2019.

 

“Losses” shall have the
meaning set forth in Section 5(a).

 

“Pipe Tranaction” means
the brokered private placement transaction of the Company’s
securities pursuant to that Placement Agency Agreement, dated
October 11, 2019, by and between the Company and Ladenburg Thalmann
& Co. Inc.

 

“Prospectus” means the
prospectus included in a Registration Statement (including, without
limitation, a prospectus that includes any information previously
omitted from a prospectus filed as part of an effective
registration statement in reliance upon Rule 430A promulgated by
the Commission pursuant to the Securities Act), as amended or
supplemented by any prospectus supplement, with respect to the
terms of the offering of any portion of the Registrable Securities
covered by a Registration Statement, and all other amendments and
supplements to the Prospectus, including post-effective amendments,
and all material incorporated by reference or deemed to be
incorporated by reference in such Prospectus.

 

“Registrable Securities”
means, as of any date of determination all shares of Common Stock
issued upon conversion in full of the Preferred Stock, including if
distributed on a pro rata basis to stockholders of Cerecor;
provided,
however, that any
such Registrable Securities shall cease to be Registrable
Securities (and the Company shall not be required to maintain the
effectiveness of any, or file another, Registration Statement
hereunder with respect thereto) for so long as (a) a Registration
Statement with respect to the sale of such Registrable Securities
is declared effective by the Commission under the Securities Act
and such Registrable Securities have been disposed of by the Holder
in accordance with such effective Registration Statement, (b) such
Registrable Securities have been previously sold in accordance with
Rule 144, or (c) with respect to Registrable Securities held by a
particular Holder, such Registrable Securities are or become
eligible for resale pursuant to Rule 144 and all the Registrable
Securities held by such Holder can be sold within a three-month
period notwithstanding volume and manner-of-sale restrictions under
Rule 144 and without the requirement for the Company to be in
compliance with the current public information requirement under
Rule 144.

 

“Registration Statement”
means any registration statement required to be filed hereunder
pursuant to Section 2(a), including (in each case) the Prospectus,
amendments and supplements to any such registration statement or
Prospectus, including pre- and post-effective amendments, all
exhibits thereto, and all material incorporated by reference or
deemed to be incorporated by reference in any such registration
statement.

 

 

2

 

 

 “Rule
415” means Rule 415 promulgated by the Commission
pursuant to the Securities Act, as such Rule may be amended or
interpreted from time to time, or any similar rule or regulation
hereafter adopted by the Commission having substantially the same
purpose and effect as such Rule.

 

“Rule 424” means Rule 424
promulgated by the Commission pursuant to the Securities Act, as
such Rule may be amended or interpreted from time to time, or any
similar rule or regulation hereafter adopted by the Commission
having substantially the same purpose and effect as such
Rule.

 

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

 

“Selling Stockholder
Questionnaire” shall have the meaning set forth in
Section 3(a).

 

“SEC Guidance” means (i)
any publicly-available written or oral guidance of the Commission
staff, or any comments, requirements or requests of the Commission
staff and (ii) the Securities Act.

 

2.           
Shelf
Registration.

 

(a) On or prior to the
Filing Date, the Company shall prepare and file with the Commission
a Registration Statement covering the resale of all of the
Registrable Securities that are not then registered on an effective
Registration Statement for an offering to be made on a continuous
basis pursuant to Rule 415. The Registration Statement filed
hereunder shall be on Form S-3 (except if the Company is not then
eligible to register for resale the Registrable Securities on Form
S-3, in which case such registration shall be on another
appropriate form). Subject to the terms of this Agreement, the
Company shall use its reasonable best efforts to cause a
Registration Statement filed under this Agreement to be declared
effective under the Securities Act as promptly as possible after
the filing thereof, but in any event no later than the applicable
Effectiveness Date, and shall use its reasonable best efforts to
keep such Registration Statement continuously effective under the
Securities Act until the date that all Registrable Securities
covered by such Registration Statement (i) have been sold,
thereunder or pursuant to Rule 144, or (ii) may be sold without
volume or manner-of-sale restrictions pursuant to Rule 144 and
without the requirement for the Company to be in compliance with
the current public information requirement under Rule 144, as
determined by the counsel to the Company pursuant to a written
opinion letter to such effect, addressed and acceptable to the
Company’s transfer agent (the “Effectiveness Period”).
The Company shall telephonically request effectiveness of a
Registration Statement as of 5:00 p.m. (New York City time) on a
Trading Day. The Company shall immediately notify the Holders via
facsimile or by e-mail of the effectiveness of a Registration
Statement on the same Trading Day that the Company telephonically
confirms effectiveness with the Commission, which shall be the date
requested for effectiveness of such Registration Statement. The
Company shall, by 9:30 a.m. (New York City time) on the Trading Day
after the effective date of such Registration Statement, file a
final Prospectus with the Commission as required by Rule
424.

 

 

3

 

 

(b)  Notwithstanding
the registration obligations set forth in Section 2(a), if the
Commission informs the Company that all of the Registrable
Securities cannot, as a result of the application of Rule 415, be
registered for resale as a secondary offering on a single
registration statement, the Company agrees to promptly inform each
of the Holders thereof and use its commercially reasonable efforts
to file amendments to the Registration Statement as required by the
Commission, covering the maximum number of Registrable Securities
permitted to be registered by the Commission, on Form S-3 or such
other form available to register for resale the Registrable
Securities as a secondary offering; provided, however, that prior to filing
such amendment, the Company shall be obligated to use diligent
efforts to advocate with the Commission for the registration of all
of the Registrable Securities in accordance with the SEC Guidance,
including without limitation, Compliance and Disclosure
Interpretation 612.09.

 

 

(c) If Form S-3 is not
available for the registration of the resale of Registrable
Securities hereunder, the Company shall (i) register the resale of
the Registrable Securities on another appropriate form and (ii)
undertake to register the Registrable Securities on Form S-3 as
soon as such form is available, provided that the Company shall
maintain the effectiveness of the Registration Statement then in
effect until such time as a Registration Statement on Form S-3
covering the Registrable Securities has been declared effective by
the Commission.

 

3.            
Registration
Procedures.

 

               In
connection with the Company’s registration obligations
hereunder, the Company shall:

 

(a) Not less than five
(5) Trading Days prior to the filing of the Registration Statement
and not less than one (1) Trading Day prior to the filing of any
related Prospectus or any amendment or supplement thereto
(including any document that would be incorporated or deemed to be
incorporated therein by reference), the Company shall (i) furnish
to each Holder copies of all such documents proposed to be filed,
which documents (other than those incorporated or deemed to be
incorporated by reference) will be subject to the review of such
Holders, and (ii) cause its officers and directors, counsel and
independent registered public accountants to respond to such
inquiries as shall be necessary, in the reasonable opinion of
respective counsel to each Holder, to conduct a reasonable
investigation within the meaning of the Securities Act. The Company
shall not file a Registration Statement or any such Prospectus or
any amendments or supplements thereto to which the Holders of a
majority of the Registrable Securities shall reasonably object in
good faith, provided that, the Company is notified of such
objection in writing no later than five (5) Trading Days after the
Holders have been so furnished copies of a Registration Statement
or one (1) Trading Day after the Holders have been so furnished
copies of any related Prospectus or amendments or supplements
thereto. Each Holder agrees to furnish to the Company a completed
questionnaire in the form attached to this Agreement as
Annex A (a
“Selling Stockholder
Questionnaire”) on a date that is not less than two
(2) Trading Days prior to the Filing Date or by the end of the
fourth (4th) Trading Day
following the date on which such Holder receives draft materials in
accordance with this Section.

 

 

4

 

 

(b) (i) Prepare and
file with the Commission such amendments, including post-effective
amendments, to a Registration Statement and the Prospectus used in
connection therewith as may be necessary to keep a Registration
Statement continuously effective as to the applicable Registrable
Securities for the Effectiveness Period and prepare and file with
the Commission such additional Registration Statements in order to
register for resale under the Securities Act all of the Registrable
Securities, (ii) cause the related Prospectus to be amended or
supplemented by any required Prospectus supplement (subject to the
terms of this Agreement), and, as so supplemented or amended, to be
filed pursuant to Rule 424, (iii) respond as promptly as reasonably
possible to any comments received from the Commission with respect
to a Registration Statement or any amendment thereto, and (iv)
comply in all material respects with the applicable provisions of
the Securities Act and the Exchange Act with respect to the
disposition of all Registrable Securities covered by a Registration
Statement during the applicable period in accordance (subject to
the terms of this Agreement) with the intended methods of
disposition by the Holders thereof set forth in such Registration
Statement as so amended or in such Prospectus as so
supplemented.

 

(c) Notify the Holders
of Registrable Securities to be sold (which notice shall, pursuant
to clauses (iii) through (vi) hereof, be accompanied by an
instruction to suspend the use of the Prospectus until the
requisite changes have been made) as promptly as reasonably
possible (and, in the case of (i)(A) below, not less than one (1)
Trading Day prior to such filing) and (if requested by any such
Person) confirm such notice in writing no later than one (1)
Trading Day following the day (i)(A) when a Prospectus or any
Prospectus supplement or post-effective amendment to a Registration
Statement is proposed to be filed, (B) when the Commission notifies
the Company whether there will be a “review” of such
Registration Statement and whenever the Commission comments in
writing on such Registration Statement, and (C) with respect to a
Registration Statement or any post-effective amendment, when the
same has become effective, (ii) of any request by the Commission or
any other federal or state governmental authority for amendments or
supplements to a Registration Statement or Prospectus or for
additional information, (iii) of the issuance by the Commission or
any other federal or state governmental authority of any stop order
suspending the effectiveness of a Registration Statement covering
any or all of the Registrable Securities or the initiation of any
Proceedings for that purpose, (iv) of the receipt by the Company of
any notification with respect to the suspension of the
qualification or exemption from qualification of any of the
Registrable Securities for sale in any jurisdiction, or the
initiation or threatening of any Proceeding for such purpose, (v)
of the occurrence of any event or passage of time that makes the
financial statements included in a Registration Statement
ineligible for inclusion therein or any statement made in a
Registration Statement or Prospectus or any document incorporated
or deemed to be incorporated therein by reference untrue in any
material respect or that requires any revisions to a Registration
Statement, Prospectus or other documents so that, in the case of a
Registration Statement or the Prospectus, as the case may be, it
will not contain any untrue statement of a material fact or omit to
state any material fact required to be stated therein or necessary
to make the statements therein, in light of the circumstances under
which they were made, not misleading, and (vi) of the occurrence or
existence of any pending corporate development with respect to the
Company that the Company believes may be material and that, in the
determination of the Company, makes it not in the best interest of
the Company to allow continued availability of a Registration
Statement or Prospectus.

 

 

5

 

 

(d) Furnish to each
Holder, without charge, at least one conformed copy of the
Registration Statement and each amendment thereto, including
financial statements and schedules, all documents incorporated or
deemed to be incorporated therein by reference to the extent
requested by such Person, and all exhibits to the extent requested
by such Person (including those previously furnished or
incorporated by reference) promptly after the filing of such
documents with the Commission, provided that any such item which is
available on the EDGAR system (or successor thereto) need not be
furnished in physical form.

 

(e) Subject to the
terms of this Agreement, the Company hereby consents to the use of
such Prospectus and each amendment or supplement thereto by each of
the selling Holders in connection with the offering and sale of the
Registrable Securities covered by such Prospectus and any amendment
or supplement thereto, except after the giving of any notice
pursuant to Section 3(c).

 

(f)  Prior to any
resale of Registrable Securities by a Holder, use its commercially
reasonable efforts to register or qualify or cooperate with the
selling Holders in connection with the registration or
qualification (or exemption from the Registration or qualification)
of such Registrable Securities for the resale by the Holder under
the securities or Blue Sky laws of such jurisdictions within the
United States as any Holder reasonably requests in writing, to keep
each registration or qualification (or exemption therefrom)
effective during the Effectiveness Period and to do any and all
other acts or things reasonably necessary to enable the disposition
in such jurisdictions of the Registrable Securities covered by the
Registration Statement, provided that the Company shall not be
required to qualify generally to do business in any jurisdiction
where it is not then so qualified, subject the Company to any
material tax in any such jurisdiction where it is not then so
subject or file a general consent to service of process in any such
jurisdiction.

 

(g) If requested by a
Holder, cooperate with such Holder to facilitate the timely
preparation and delivery of certificates representing Registrable
Securities to be delivered to a transferee pursuant to a
Registration Statement, which certificates shall be free, to the
extent permitted by the Purchase Agreement, of all restrictive
legends, and to enable such Registrable Securities to be in such
denominations and registered in such names as any such Holder may
request.

 

(h) Upon the occurrence
of any event contemplated by Section 3(c), as promptly as
reasonably possible under the circumstances taking into account the
Company’s good faith assessment of any adverse consequences
to the Company and its stockholders of the premature disclosure of
such event, prepare a supplement or amendment, including a
post-effective amendment, to a Registration Statement or a
supplement to the related Prospectus or any document incorporated
or deemed to be incorporated therein by reference, and file any
other required document so that, as thereafter delivered, neither a
Registration Statement nor such Prospectus will contain an untrue
statement of a material fact or omit to state a material fact
required to be stated therein or necessary to make the statements
therein, in light of the circumstances under which they were made,
not misleading. If the Company
notifies the Holders in accordance with clauses (iii) through (vi)
of Section 3(c) above to suspend the use of any Prospectus until
the requisite changes to such Prospectus have been made, then the
Holders shall suspend use of such Prospectus. The Company will use
its reasonable best efforts to ensure that the use of the
Prospectus may be resumed as promptly as is
practicable.

 

 

6

 

 

(i) Otherwise use
commercially reasonable efforts to comply with all applicable rules
and regulations of the Commission under the Securities Act and the
Exchange Act, including, without limitation, Rule 172 under the
Securities Act, file any final Prospectus, including any supplement
or amendment thereof, with the Commission pursuant to Rule 424
under the Securities Act, promptly inform the Holders in writing
if, at any time during the Effectiveness Period, the Company does
not satisfy the conditions specified in Rule 172 and, as a result
thereof, the Holders are required to deliver a Prospectus in
connection with any disposition of Registrable Securities and take
such other actions as may be reasonably necessary to facilitate the
registration of the Registrable Securities hereunder.

 

(j) The Company shall
use its reasonable best efforts to maintain eligibility for use of
Form S-3 (or any successor form thereto) for the registration of
the resale of Registrable Securities.

 

(k) The Company may
require each selling Holder to furnish to the Company a certified
statement as to the number of shares of Common Stock beneficially
owned by such Holder and, if required by the Commission, the
natural persons thereof that have voting and dispositive control
over the shares. During any periods that the Company is unable to
meet its obligations hereunder with respect to the registration of
the Registrable Securities solely because any Holder fails to
furnish such information within three Trading Days of the
Company’s request, any liquidated damages that are accruing
at such time as to such Holder only shall be tolled and any Event
that may otherwise occur solely because of such delay shall be
suspended as to such Holder only, until such information is
delivered to the Company.

 

4.           
Registration
Expenses. All fees and expenses incident to the performance
of or compliance with, this Agreement by the Company shall be borne
by the Company whether or not any Registrable Securities are sold
pursuant to a Registration Statement. The fees and expenses
referred to in the foregoing sentence shall include, without
limitation, (i) all registration and filing fees (including,
without limitation, fees and expenses of the Company’s
counsel and independent registered public accountants) (A) with
respect to filings made with the Commission, (B) with respect to
filings required to be made with any Trading Market on which the
Common Stock is then listed for trading, and (C) in compliance with
applicable state securities or Blue Sky laws reasonably agreed to
by the Company in writing (including, without limitation, fees and
disbursements of counsel for the Company in connection with Blue
Sky qualifications or exemptions of the Registrable Securities),
(ii) printing expenses (including, without limitation, expenses of
printing certificates for Registrable Securities), (iii) messenger,
telephone and delivery expenses, (iv) fees and disbursements of
counsel for the Company, (v) the reasonable fees and disbursements
of a single counsel for all of the holders of Registrable
Securities in connection with the registration, (v) Securities Act
liability insurance, if the Company so desires such insurance, and
(vi) fees and expenses of all other Persons retained by the Company
in connection with the consummation of the transactions
contemplated by this Agreement. In addition, the Company shall be
responsible for all of its internal expenses incurred in connection
with the consummation of the transactions contemplated by this
Agreement (including, without limitation, all salaries and expenses
of its officers and employees performing legal or accounting
duties), the expense of any annual audit and the fees and expenses
incurred in connection with the listing of the Registrable
Securities on any securities exchange as required hereunder. In no
event shall the Company be responsible for any broker or similar
commissions of any Holder or, except to the extent provided for in
the Transaction Documents, any legal fees or other costs of the
Holders.

 

 

 

7

 

 

5.           
Indemnification.

 

(a) Indemnification by the Company.
The Company shall, notwithstanding any termination of this
Agreement, indemnify and hold harmless each Holder, the officers,
directors, members, partners, agents, brokers, investment advisors
and employees (and any other Persons with a functionally equivalent
role of a Person holding such titles, notwithstanding a lack of
such title or any other title) of each of them, each Person who
controls any such Holder (within the meaning of Section 15 of the
Securities Act or Section 20 of the Exchange Act) and the officers,
directors, members, stockholders, partners, agents and employees
(and any other Persons with a functionally equivalent role of a
Person holding such titles, notwithstanding a lack of such title or
any other title) of each such controlling Person, to the fullest
extent permitted by applicable law, from and against any and all
losses, claims, damages, liabilities, costs (including, without
limitation, reasonable attorneys’ fees) and expenses
(collectively, “Losses”), as incurred,
arising out of or relating to (1) any untrue or alleged untrue
statement of a material fact contained in a Registration Statement,
any Prospectus or any form of prospectus or in any amendment or
supplement thereto or in any preliminary prospectus, or arising out
of or relating to any omission or alleged omission of a material
fact required to be stated therein or necessary to make the
statements therein (in the case of any Prospectus or supplement
thereto, in light of the circumstances under which they were made)
not misleading or (2) any violation or alleged violation by the
Company of the Securities Act, the Exchange Act or any state
securities law, or any rule or regulation thereunder, in connection
with the performance of its obligations under this Agreement,
except to the extent, but only to the extent, that (i) such untrue
statements or omissions are based solely upon information regarding
such Holder furnished in writing to the Company by such Holder
expressly for use therein, or to the extent that such information
relates to such Holder or such Holder’s proposed method of
distribution of Registrable Securities and was reviewed and
expressly approved in writing by such Holder expressly for use in a
Registration Statement, such Prospectus or in any amendment or
supplement thereto or (ii) in the case of an occurrence of an event
of the type specified in Section 3(c)(iii)-(vi), the use by such
Holder of an outdated, defective or otherwise unavailable
Prospectus after the Company has notified such Holder in writing
that the Prospectus is outdated, defective or otherwise unavailable
for use by such Holder. The Company shall notify the Holders
promptly of the institution, threat or assertion of any Proceeding
arising from or in connection with the transactions contemplated by
this Agreement of which the Company is aware.

 

 

8

 

 

(b) Indemnification by Holders.
Each Holder shall, severally and not jointly, indemnify and hold
harmless the Company, its directors, officers, agents and
employees, each Person who controls the Company (within the meaning
of Section 15 of the Securities Act and Section 20 of the Exchange
Act), and the directors, officers, agents or employees of such
controlling Persons, to the fullest extent permitted by applicable
law, from and against all Losses, as incurred, to the extent
arising out of or based solely upon: any untrue or alleged untrue
statement of a material fact contained in any Registration
Statement, any Prospectus, or in any amendment or supplement
thereto or in any preliminary prospectus, or arising out of or
relating to any omission or alleged omission of a material fact
required to be stated therein or necessary to make the statements
therein (in the case of any Prospectus or supplement thereto, in
light of the circumstances under which they were made) not
misleading (i) to the extent, but only to the extent, that such
untrue statement or omission is contained in any information so
furnished in writing by such Holder to the Company expressly for
inclusion in such Registration Statement or such Prospectus or (ii)
to the extent, but only to the extent, that such information
relates to such Holder’s information provided in the Selling
Stockholder Questionnaire or the proposed method of distribution of
Registrable Securities and was reviewed and expressly approved in
writing by such Holder expressly for use in a Registration
Statement, such Prospectus or in any amendment or supplement
thereto. In no event shall the liability of a selling Holder be
greater in amount than the dollar amount of the proceeds (net of
all expenses paid by such Holder in connection with any claim
relating to this Section 5 and the amount of any damages such
Holder has otherwise been required to pay by reason of such untrue
statement or omission) received by such Holder upon the sale of the
Registrable Securities included in the Registration Statement
giving rise to such indemnification obligation.

 

(c) Conduct of Indemnification
Proceedings. If any Proceeding shall be brought or asserted
against any Person entitled to indemnity hereunder (an
“Indemnified
Party”), such Indemnified Party shall promptly notify
the Person from whom indemnity is sought (the “Indemnifying Party”) in
writing, and the Indemnifying Party shall have the right to assume
the defense thereof, including the employment of counsel reasonably
satisfactory to the Indemnified Party and the payment of all fees
and expenses incurred in connection with defense thereof, provided
that the failure of any Indemnified Party to give such notice shall
not relieve the Indemnifying Party of its obligations or
liabilities pursuant to this Agreement, except (and only) to the
extent that it shall be finally determined by a court of competent
jurisdiction (which determination is not subject to appeal or
further review) that such failure shall have materially and
adversely prejudiced the Indemnifying Party.

 

 

9

 

 

               An
Indemnified Party shall have the right to employ separate counsel
in any such Proceeding and to participate in the defense thereof,
but the fees and expenses of such counsel shall be at the expense
of such Indemnified Party or Parties unless: (1) the Indemnifying
Party has agreed in writing to pay such fees and expenses, (2) the
Indemnifying Party shall have failed promptly to assume the defense
of such Proceeding and to employ counsel reasonably satisfactory to
such Indemnified Party in any such Proceeding, or (3) the named
parties to any such Proceeding (including any impleaded parties)
include both such Indemnified Party and the Indemnifying Party, and
counsel to the Indemnified Party shall reasonably believe that a
material conflict of interest is likely to exist if the same
counsel were to represent such Indemnified Party and the
Indemnifying Party (in which case, if such Indemnified Party
notifies the Indemnifying Party in writing that it elects to employ
separate counsel at the expense of the Indemnifying Party, the
Indemnifying Party shall not have the right to assume the defense
thereof and the reasonable fees and expenses of no more than one
separate counsel shall be at the expense of the Indemnifying
Party). The Indemnifying Party shall not be liable for any
settlement of any such Proceeding effected without its written
consent, which consent shall not be unreasonably withheld or
delayed. No Indemnifying Party shall, without the prior written
consent of the Indemnified Party, effect any settlement of any
pending Proceeding in respect of which any Indemnified Party is a
party, unless such settlement includes an unconditional release of
such Indemnified Party from all liability on claims that are the
subject matter of such Proceeding.

 

               Subject
to the terms of this Agreement, all reasonable fees and expenses of
the Indemnified Party (including reasonable fees and expenses to
the extent incurred in connection with investigating or preparing
to defend such Proceeding in a manner not inconsistent with this
Section) shall be paid to the Indemnified Party, as incurred,
within ten Trading Days of written notice thereof to the
Indemnifying Party, provided that the Indemnified Party shall
promptly reimburse the Indemnifying Party for that portion of such
fees and expenses applicable to such actions for which such
Indemnified Party is finally determined by a court of competent
jurisdiction (which determination is not subject to appeal or
further review) not to be entitled to indemnification
hereunder.

 

 

10

 

 

(d) Contribution. If the
indemnification under Section 5(a) or 5(b) is unavailable to an
Indemnified Party or insufficient to hold an Indemnified Party
harmless for any Losses, then each Indemnifying Party shall
contribute to the amount paid or payable by such Indemnified Party,
in such proportion as is appropriate to reflect the relative fault
of the Indemnifying Party and Indemnified Party in connection with
the actions, statements or omissions that resulted in such Losses
as well as any other relevant equitable considerations. The
relative fault of such Indemnifying Party and Indemnified Party
shall be determined by reference to, among other things, whether
any action in question, including any untrue or alleged untrue
statement of a material fact or omission or alleged omission of a
material fact, has been taken or made by, or relates to information
supplied by, such Indemnifying Party or Indemnified Party, and the
parties’ relative intent, knowledge, access to information
and opportunity to correct or prevent such action, statement or
omission. The amount paid or payable by a party as a result of any
Losses shall be deemed to include, subject to the limitations set
forth in this Agreement, any reasonable attorneys’ or other
fees or expenses incurred by such party in connection with any
Proceeding to the extent such party would have been indemnified for
such fees or expenses if the indemnification provided for in this
Section was available to such party in accordance with its
terms.

 

The
parties hereto agree that it would not be just and equitable if
contribution pursuant to this Section 5(d) were determined by pro
rata allocation or by any other method of allocation that does not
take into account the equitable considerations referred to in the
immediately preceding paragraph. In no event shall the contribution
obligation of a Holder of Registrable Securities be greater in
amount than the dollar amount of the proceeds (net of all expenses
paid by such Holder in connection with any claim relating to this
Section 5 and the amount of any damages such Holder has otherwise
been required to pay by reason of such untrue or alleged untrue
statement or omission or alleged omission) received by it upon the
sale of the Registrable Securities giving rise to such contribution
obligation.

 

The
indemnity and contribution agreements contained in this Section are
in addition to any liability that the Indemnifying Parties may have
to the Indemnified Parties.

 

 

11

 

 

6.                       
Miscellaneous.

 

 

(a) Amendments and Waivers. The
provisions of this Agreement, including the provisions of this
sentence, may not be amended, modified or supplemented, and waivers
or consents to departures from the provisions hereof may not be
given, unless the same shall be in writing and signed by the
Company and the Holders of 50.1% or more of the then outstanding
Registrable Securities (for purposes of clarification, this
includes any Registrable Securities issuable upon exercise or
conversion of any Security), provided that, if any amendment,
modification or waiver disproportionately and adversely impacts a
Holder (or group of Holders), the consent of such
disproportionately impacted Holder (or group of Holders) shall be
required. If a Registration Statement does not register all of the
Registrable Securities pursuant to a waiver or amendment done in
compliance with the previous sentence, then the number of
Registrable Securities to be registered for each Holder shall be
reduced pro rata among all Holders and each Holder shall have the
right to designate which of its Registrable Securities shall be
omitted from such Registration Statement. Notwithstanding the
foregoing, a waiver or consent to depart from the provisions hereof
with respect to a matter that relates exclusively to the rights of
a Holder or some Holders and that does not directly or indirectly
affect the rights of other Holders may be given only by such Holder
or Holders of all of the Registrable Securities to which such
waiver or consent relates; provided, however, that the provisions of
this sentence may not be amended, modified, or supplemented except
in accordance with the provisions of the first sentence of this
Section 6(f). No consideration shall be offered or paid to any
Person to amend or consent to a waiver or modification of any
provision of this Agreement unless the same consideration also is
offered to all of the parties to this Agreement.

 

(b) Notices. Any and all notices or
other communications or deliveries required or permitted to be
provided hereunder shall be delivered as set forth in the Purchase
Agreement.

 

(c) Successors and Assigns. This
Agreement shall inure to the benefit of and be binding upon the
successors and permitted assigns of each of the parties and shall
inure to the benefit of each Holder.

 

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

 

 

12

 

 

(e) Governing Law. All questions
concerning the construction, validity, enforcement and
interpretation of this Agreement shall be determined in accordance
with the provisions of the Purchase Agreement.

 

(f) Cumulative Remedies. The
remedies provided herein are cumulative and not exclusive of any
other remedies provided by law.

 

(g) Severability. If any term,
provision, covenant or restriction of this Agreement is held by a
court of competent jurisdiction to be invalid, illegal, void or
unenforceable, the remainder of the terms, provisions, covenants
and restrictions set forth herein shall remain in full force and
effect and shall in no way be affected, impaired or invalidated,
and the parties hereto shall use their commercially reasonable
efforts to find and employ an alternative means to achieve the same
or substantially the same result as that contemplated by such term,
provision, covenant or restriction. It is hereby stipulated and
declared to be the intention of the parties that they would have
executed the remaining terms, provisions, covenants and
restrictions without including any of such that may be hereafter
declared invalid, illegal, void or unenforceable.

 

(h) Headings. The headings in this
Agreement are for convenience only, do not constitute a part of the
Agreement and shall not be deemed to limit or affect any of the
provisions hereof.

 

 

********************

 

 

(Signature Pages Follow)

 

 

13

 

 

               IN
WITNESS WHEREOF, the parties have executed this Registration Rights
Agreement as of the date first written above.

 

	

AYTU BIOSCIENCE, INC.

 

 

	

By:
/s/ Joshua R.
Disbrow                                               

     Name:
Joshua R. Disbrow

     Title:
Chief Executive Officer

 

 

 

 

 

	

CERECOR, INC.

 

 

	

By:
/s/ Joseph
Miller                                                          

     Name:
Joseph Miller

     Title:
Chief Financial Officer

 

 

 

 

 

 

 

[SIGNATURE
PAGE OF HOLDERS TO AYTU RRA]

 

 

Name of
Holder: __________________________

 

Signature of Authorized Signatory of
Holder: __________________________

 

Name of
Authorized Signatory: _________________________

 

Title
of Authorized Signatory: __________________________

 

 

 

[SIGNATURE PAGES
CONTINUE]

 

 

 

 

 

Annex
A

 

AYTU BIOSCIENCE, INC.

 

Selling Stockholder Notice and Questionnaire

 

The
undersigned beneficial owner of common stock (the
“Registrable
Securities”) of Aytu BioScience, Inc., a Delaware
corporation (the “Company”), understands
that the Company has filed or intends to file with the Securities
and Exchange Commission (the “Commission”) a
registration statement (the “Registration Statement”)
for the registration and resale under Rule 415 of the Securities
Act of 1933, as amended (the “Securities Act”), of the
Registrable Securities, in accordance with the terms of the
Registration Rights Agreement (the “Registration Rights
Agreement”) to which this document is annexed. A copy
of the Registration Rights Agreement is available from the Company
upon request at the address set forth below. All capitalized terms
not otherwise defined herein shall have the meanings ascribed
thereto in the Registration Rights Agreement.

 

Certain
legal consequences arise from being named as a selling stockholder
in the Registration Statement and the related prospectus.
Accordingly, holders and beneficial owners of Registrable
Securities are advised to consult their own securities law counsel
regarding the consequences of being named or not being named as a
selling stockholder in the Registration Statement and the related
prospectus.

 

NOTICE

 

The
undersigned beneficial owner (the “Selling Stockholder”) of
Registrable Securities hereby elects to include the Registrable
Securities owned by it in the Registration Statement.

 

 

1

 

 

The
undersigned hereby provides the following information to the
Company and represents and warrants that such information is
accurate:

 

QUESTIONNAIRE

 

1. Name.

 

(a) 

Full Legal Name of
Selling Stockholder

 

	
 

	
 

 

(b) 

Full Legal Name of
Registered Holder (if not the same as (a) above) through which
Registrable Securities are held:

 

	
 

	
 

 

(c) 

Full Legal Name of
Natural Control Person (which means a natural person who directly
or indirectly alone or with others has power to vote or dispose of
the securities covered by this Questionnaire):

 

	
 

	
 

 

 

2.
Address for Notices to Selling Stockholder:

 

	
 

	
 

	
 

	

Telephone: 

	

Fax: 

	

Contact
Person: 

 

3.
Broker-Dealer Status:

 

(a) 

Are you a
broker-dealer?

 

Yes
☐                      
No ☐

 

(b) 

If
“yes” to Section 3(a), did you receive your Registrable
Securities as compensation for investment banking services to the
Company?

 

Yes
☐                      
No ☐

 

 

 

2

 

 

Note: 

If “no”
to Section 3(b), the Commission’s staff has indicated that
you should be identified as an underwriter in the Registration
Statement.

 

(c) 

Are you an
affiliate of a broker-dealer?

 

Yes
☐                      
No ☐

 

(d) 

If you are an
affiliate of a broker-dealer, do you certify that you purchased the
Registrable Securities in the ordinary course of business, and at
the time of the purchase of the Registrable Securities to be
resold, you had no agreements or understandings, directly or
indirectly, with any person to distribute the Registrable
Securities?

 

Yes
☐                      
No ☐

 

Note: 

If “no”
to Section 3(d), the Commission’s staff has indicated that
you should be identified as an underwriter in the Registration
Statement.

 

4.
Beneficial Ownership of Securities of the Company Owned by the
Selling Stockholder.

 

Except as set forth below in this Item 4, the undersigned is not
the beneficial or registered owner of any securities of the Company
other than the securities issuable pursuant to the Purchase
Agreement.

 

(a) 

Type and Amount of
other securities beneficially owned by the Selling
Stockholder:

 

	
 

	
 

	
 

 

 

3

 

 

5.
Relationships with the Company:

 

Except as set forth below, neither the undersigned nor any of its
affiliates, officers, directors or principal equity holders (owners
of 5% of more of the equity securities of the undersigned) has held
any position or office or has had any other material relationship
with the Company (or its predecessors or affiliates) during the
past three years.

 

State any
exceptions here:

 

	
 

	
 

	
 

 

The
undersigned agrees to promptly notify the Company of any material
inaccuracies or changes in the information provided herein that may
occur subsequent to the date hereof at any time while the
Registration Statement remains effective; provided, that the
undersigned shall not be required to notify the Company of any
changes to the number of securities held or owned by the
undersigned or its affiliates.

 

By
signing below, the undersigned consents to the disclosure of the
information contained herein in its answers to Items 1 through 5
and the inclusion of such information in the Registration Statement
and the related prospectus and any
amendments or supplements thereto. The undersigned
understands that such information will be relied upon by the
Company in connection with the preparation or amendment of the
Registration Statement and the related prospectus and any
amendments or supplements thereto.

 

IN
WITNESS WHEREOF the undersigned, by authority duly given, has
caused this Notice and Questionnaire to be executed and delivered
either in person or by its duly authorized agent.

 

	
 Date:___________________________  

______________________________ 

 

 

 

 

	
 Beneficial
Owner:     

 

By:

 

     Name:

     Title:

 

                                                           

PLEASE FAX A COPY (OR EMAIL A .PDF COPY) OF THE COMPLETED AND
EXECUTED NOTICE AND QUESTIONNAIRE TO:

 

 

4

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