Document:

Exhibit
10.50

 

AMENDED
AND RESTATED SECURED PROMISSORY NOTE

 

	$1,500,000	December
    7, 2022 (the “Effective Date”)

 

FOR
VALUE RECEIVED, the undersigned, BioLife4D – SM Trust, dated November 1, 2016, a trust organized under the laws of the State of
Illinois (“Borrower”), promises to pay to the order of Gary E. Reynolds, an individual residing in the State of Texas
(“Lender”), at 8713 Airport Freeway, Suite 100, North Richland Hills, TX 76180, or at such other place as Lender may
designate, the principal sum of one million five hundred thousand dollars ($1,500,000), together with interest accrued thereon, all as
provided in this Amended and Restated Secured Promissory Note (this “Note”).

 

RECITALS

 

WHEREAS,
Lender has loaned Borrower $1,000,000 pursuant to the Original Note to provide collateral to the Bank for a loan by Bank to the Corporation
(with the entire $1,000,000 principal amount of the Original Note outstanding as of the Effective Date;

 

WHEREAS,
Borrower has requested Lender to loan Borrower an additional $500,000 to provide collateral to the Bank for an additional loan by Bank
to the Corporation.

 

WHEREAS,
Lender and Borrower desire to enter into this Note to reflect such additional $500,000 loan from Lender to Borrower.

 

1.
Definitions. For the purposes of this Note, unless the context requires otherwise, the following terms have the respective meanings
given to them in this Section or in the Sections referred to below:

 

“Bank”
means Fifth Third Bank National Association and any successor thereto.

 

“Bank
Cash Collateral” has the meaning given to that term in Section 2.

 

“Bank
Loan” has the meaning given to that term in Section 2. Worth, Texas. thereto.

 

“Business
Day” means every day that is not a Saturday, Sunday or legal holiday in Fort

 

“Corporation”
means BioLife4D Corporation, a Delaware corporation, and any successor “Current Interest” has the meaning given to
that term in Section 3.

 

“Debtor
Relief Law” means the Bankruptcy Code of the United States of America and all other applicable liquidation,
conservatorship, bankruptcy, moratorium, rearrangement, receivership, insolvency, reorganization or similar debtor relief laws from
time to time in effect affecting the rights of creditors generally.

 

“Dollars”
and the symbol “$” refers to currency of the United States of America.

 

“Event
of Default” has the meaning given to such term in Section 9.

 

“Governmental
Authority” means any government (or any political subdivision or jurisdiction thereof), court, bureau, agency, or other governmental
authority.

 

    	1

     

    

 

“IPO”
has the meaning given to that term in Section 7(n).

 

“Lien”
means any lien, mortgage, security interest, tax lien, pledge, encumbrance, conditional sale or title retention arrangement, or any other
interest in property designed to secure the repayment of indebtedness, whether arising by agreement, under any statute or law, or otherwise.

 

“Loan
Documents” mean this Note, the Security Agreement, and any agreements or documents executed or delivered pursuant to the terms
of this Note or the Security Agreement, including any amendments, renewals, extensions, substitutions, supplements, or modifications
of any of the foregoing.

 

“Loan
Prepayment Premium” means an amount equal to $100,000 minus the total amount of interest on this Note (including the Original
Note) paid by Borrower in respect of $1,000,000 of principal at or prior to the time such Loan Prepayment Premium is paid (but in no
event shall the Loan Prepayment Premium be less than zero or more than the maximum amount permitted by law).

 

“Initial
Principal Payment Date” means the date that is the earlier of: (i) ninety (90) days after the Effective Date, or (ii) 2 Business
Days following the receipt by the Corporation of funds from the closing of an initial public offering or other transaction (whether public
or private) involving the Corporation’s sale, issuance, or transfer of securities of the Corporation, or (iii) the disbursement
of the Bank Cash Collateral from the Bank to Borrower or the Corporation.

 

“Maturity
Date” means the date that is the earlier of: (i) the maturity date of the Bank Loan (currently May 18, 2023), but in no event
later than November 18, 2023, or (ii) 2 Business Days following the receipt by the Corporation of funds from the closing of an initial
public offering or other transaction (whether public or private) involving the Corporation’s sale, issuance, or transfer of securities
of the Corporation, or (iii) the disbursement of the Bank Cash Collateral from the Bank to Borrower or the Corporation.

 

“Note”
has the meaning given to such term in the opening paragraph of this instrument. “Organizational Documents” mean,
as applicable to any Person, the Articles or Certificate of Incorporation, bylaws, shareholder agreements, partnership agreement,
limited liability company agreement, trust agreement, or any other organizational or governing documents of such Person, in each
case applicable to or binding upon such Person or any of such Person’s property or to which such Person or any of such
Person’s property is subject.

 

“Original
Note” means that certain Secured Promissory Note dated May 18, 2022 in the original principal amount of $1,000,000 payable
by Borrower to Lender.

 

“Person”
includes an individual, a corporation, non-profit corporation, a professional association, a joint venture, a general partnership, a
limited partnership, a limited liability company, a limited liability partnership, a trust, an unincorporated organization or a Governmental
Authority.

 

“Registration
Statement” has the meaning given to that term in Section 7(m).

 

“Regulatory
Defects” mean the failure by Borrower to comply with all laws, statutes, orders, rules and regulations of any Governmental
Authority.

 

“Requirements”
mean (i) any and all present and future judicial decisions, laws, statutes, rulings, rules, regulations, orders, permits, certificates
or ordinances of any Governmental Authority in any manner applicable to Borrower, and (ii) any and all material contracts, written or
oral, of any nature to which Borrower may be bound.

 

    	2

     

    

 

“SEC”
means the United States Security and Exchange Commission. “Security Agreement” has the meaning given to such term
in Section 6.

 

2. Use
of Proceeds. The proceeds of this Note shall be used by Borrower solely to provide $1,500,000 cash collateral in favor of Bank
(the “Bank Cash Collateral”) to secure a $1,500,000 working capital loan(s) by Bank to the Corporation (the
“Bank Loan”). Borrower shall provide Lender documentary evidence reasonably satisfactory to Lender that
Borrower’s use of the proceeds complies with the terms of this Section 2. At the option of Lender, Lender may transfer
the proceeds of this Note directly to Bank, pursuant to wire instructions to be provided by Borrower, to become part of the Bank
Cash Collateral but such transfer shall nevertheless be a loan to Borrower under this Note.

 

3.
Payment. As of the Effective Date, the unpaid principal amount of this Note is $1,500,000 (inclusive of unpaid principal on the
Original Note). In addition, as of the Effective Date, there is accrued, unpaid interest on the Original Note which remains an obligation
of Borrower under this Note (the “Current Interest”). The Current Interest shall be due and payable on the last day
of February 2023. Accrued but unpaid interest on this Note on the outstanding principal balance of this Note (other than Current Interest)
shall be due and payable in quarterly installments on the last day of February, May, August, and November until the Maturity Date. $500,000
of principal, plus accrued but unpaid interest thereon, shall be due and payable on the Initial Principal Payment Date. On the Maturity
Date, the outstanding principal balance of this Note, all accrued but unpaid interest hereon, shall be due and payable in full. If principal,
interest, or other amount due on this Note becomes due and payable on other than a Business Day, payment in respect thereof may be made
on the next succeeding Business Day, and interest shall continue to accrue during such extension.

 

4.
Interest Rate. The principal balance of this Note from time to time remaining unpaid prior to maturity shall accrue interest beginning
as of the Effective Date at the rate of ten percent (10%) per year (but not to exceed the maximum rate of interest allowed by law). Interest
on any past due principal of or interest on this Note shall bear interest from its due date until the date of its payment at the rate
of fifteen percent (15%) per year (but not to exceed the maximum rate of interest allowed by law). Interest on this Note shall be calculated
on the basis of actual days elapsed in a year consisting of 365 days or 366 days, as applicable.

 

5.
Prepayment. Borrower may, at its sole option, without premium or penalty (other than any applicable Loan Prepayment Premium),
prepay all or any part of the principal of this Note, together with all accrued but unpaid interest thereon, before the Maturity Date.
If the unpaid principal balance of this Note is paid prior to May 18, 2023, Borrower shall pay Lender the Loan Prepayment Premium unless
prohibited by law. Any principal on this Note prepaid by Borrower may not be reborrowed by Borrower.

 

6.
Security Agreement. The full amount of this Note is secured by the collateral identified and described as security therefor in
a Stock Pledge Agreement of even date herewith executed and delivered by Borrower in favor of Lender (the “Security Agreement”).

 

7.
Representations and Warranties of Borrower. Borrower represents and warrants to the Lender as follows as of the Effective Date:

 

(a)
The Borrower is a trust duly created and validly existing under the laws of the State of Illinois.

 

    	3

     

    

 

(b)
The execution and delivery of the Loan Documents by Borrower and the performance by Borrower of its obligations under the Loan Documents
have been duly authorized by all necessary action on the part of Borrower.

 

(c)
The execution and delivery of the Loan Documents by Borrower and the performance by Borrower of its obligations under the Loan Documents
shall not violate or constitute a default under any Requirements or Borrower’s Organizational Documents.

 

(d)
The Loan Documents, when executed and delivered by the applicable parties thereto, shall constitute legal, valid and binding obligations
of Borrower in accordance with their respective terms subject to applicable Debtor Relief Laws and subject to general principles of equity,
regardless of whether considered in a proceeding in equity or at law.

 

(e)
Other than agreements with Lender, Borrower does not have any agreements in effect providing for or relating to extensions of credit
in respect of which Borrower is or may become directly or contingently obligated.

 

(f)
Attached hereto as Schedule 1 is a true and correct list setting forth all of the assets, properties, and liabilities of Borrower
as of the Effective Date.

 

(g)
Borrower has good and valid title to all of its assets and properties free and clear of any Liens other than Liens granted to Lender
under the Security Agreement.

 

(h)
Borrower is not in default in any material respect under any contract, lease, loan agreement, indenture, mortgage, security agreement
or other agreement or obligation to which Borrower is a party or by which Borrower’s property is bound.

 

(i)
No Regulatory Defects exist in respect of Borrower or its assets and properties.

 

(j)
There are no suits or proceedings pending or threatened in any court or before any Governmental Authority against or affecting Borrower.

 

(k)
There are no suits or proceedings pending or threatened in any court or before any Governmental Authority against or affecting the Corporation
other than that certain case styled Leith, Struve, Echoventure, LLC et al v. BioLife4D Corporation, Circuit Court of Cook County, Illinois,
Law Division, Case No. 2020-L-006166.

 

(l)
Borrower has delivered to Lender correct and complete copies of all of the loan documents with Bank relating to the Borrower or the Corporation.

 

(m)
The SEC has no further comments to the Corporation’s Form S-1 Registration filed with the SEC as of November 23, 2022 (the “Registration
Statement”).

 

(n)
Except as noted below in this clause n, no notices, filings, or approvals involving Nasdaq, the SEC or any other Governmental
Authority, or any other Person are required for the Corporation to sell or otherwise issue shares of stock in connection with the initial
public offering contemplated by the Registration Statement (the “IPO”): an amendment to the Registration Statement
to reflect the transactions contemplated by this Note and the Bank Loan, notice to be provided by the Corporation to the SEC following
completion of the road show and a declaration by the SEC, following such notice, that the registration is “effective”, and
filing of a copy of the amendment to the Registration Statement with Nasdaq and the provision to, or confirmation to, Nasdaq of certain
information required to commence trading.

 

    	4

     

    

 

(o)
Borrower has provided Lender a true and correct copy of the roadshow schedule in connection with the IPO, and such roadshow schedule
has not been modified in any material respect and such road show will commence on January 9, 2023.

 

All
representations and warranties by Borrower set forth in this Note or any other Loan Documents shall survive delivery of this Note and
the other Loan Documents. Any investigation at any time made by or on behalf of Lender shall not diminish Lender’s right to rely
on the representations and warranties made by Borrower.

 

8.
Covenants. Until the fulfillment of all of Borrower’s obligations under the Loan Documents, unless Lender otherwise consents
in writing, Borrower shall perform and comply with the following covenants:

 

(a)
Borrower shall not sell, transfer, assign, distribute, mortgage, pledge, or otherwise dispose of any of its assets or properties (or
any interest therein).

 

(b)
Borrower shall comply in all material respects with all Requirements.

 

(c)
Borrower shall not create, incur, assume or suffer to exist any Lien against any of Borrower’s assets or properties except for
the Liens granted to Lender under the Security Agreement.

 

(d)
Borrower shall not incur, assume, or suffer to exist any indebtedness for borrowed money other than trade payables incurred in the ordinary
course of business.

 

(e)
Borrower shall promptly provide Lender such information regarding the assets, properties, business, affairs, and financial condition
of Borrower as Lender may reasonably request from time to time.

 

(f)
Borrower shall promptly (but in no event later than 7 days after the occurrence thereof) notify Lender of, (i) any material adverse change
in Borrower’s financial condition, (ii) any default under any agreement, contract or other instrument to which Borrower is a party
or by which any of Borrower’s assets or properties are bound, or any acceleration of the maturity of any indebtedness, (iii) any
claim against or affecting Borrower or Borrower’s assets or property, (iv) the commencement of, and any determination in, any litigation
with any third party or any proceeding before any Governmental Authority affecting Borrower, and (v) any violations or alleged violations
by Borrower of any Requirement.

 

(g)
Borrower shall furnish to Lender immediately upon becoming aware of the existence of any condition or event which constitutes an Event
of Default, or an event which, with notice or lapse of time, would become an Event of Default, notice specifying the nature and period
of existence thereof and the action which Borrower is taking or proposes to take with respect thereto.

 

(h)
Borrower shall not terminate its existence (which includes a trust revocation), dissolve, merge, change its state of formation, change
its legal organizational structure, or undertake any similar transaction.

 

    	5

     

    

 

(i)
If this Note has not been paid in full within 60 days after the Effective Date, Lender shall have the option to purchase 10,000 shares
of stock in the Corporation from Borrower for a total purchase price of $1,000 cash. Such option is exercisable for a period of one (1)
year after the Effective Date and Lender may satisfy such purchase price by reducing the amount owed by Borrower hereunder by $1,000.

 

9.
Events of Default and Remedies. The occurrence of any of the following shall constitute an “Event of Default”
hereunder:

 

(a)
the failure of Borrower to make any payment of interest or principal within 3 Business Days of the date when due hereunder;

 

(b)
if any representation, warranty, statement, or certification made by Borrower in any Loan Document proves to have been incorrect in any
material respect at the time of making or issuance thereof;

 

(c)
if Borrower defaults under, or in the observance or performance of, any of the covenants and agreements contained in any Loan Document,
subject in each case to a notice and cure period of 10 Business Days but only if such default is reasonably capable of cure;

 

(d)
Borrower shall (i) voluntarily seek, consent to, acquiesce in the benefit or benefits of any Debtor Relief Law or (ii) become party to
(or be made the subject of) any proceeding provided by any Debtor Relief Law, other than as a creditor or claimant (unless in the event
such proceeding is involuntary, the petition instituting the same is dismissed within sixty (60) days of the filing of same; or

 

(e)
An event of default occurs under any loan agreement, promissory note, security agreement or other agreement between the Corporation or
Borrower and the Bank.

 

Upon
the occurrence of an Event of Default and at any time thereafter during the continuance of such Event of Default, Lender may at its option,
by written notice to Borrower (a) declare the entire principal amount of this Note, together with all accrued interest thereon and all
other amounts payable under this Note, immediately due and payable, whereupon the same shall immediately become due and payable without
any present, demand, protest, notice of protest, notice of intent to accelerate, notice of acceleration, or any notice of any kind, all
of which are hereby waived to the fullest extent permitted by law) and/or (b) exercise any or all of its rights, powers, or remedies
under the Loan Documents or applicable law; provided, however that, if an Event of Default described in Section 9.4(d)
shall occur, the principal of and accrued interest on this Note shall become immediately due and payable without any notice, declaration,
or other act on the part of Lender.

 

10.
Cumulative Rights. Each right, power and remedy of Lender as provided for in this Note or the other Loan Documents or now or hereafter
existing under any applicable law will be cumulative and concurrent and will be in addition to every other right, power or remedy provided
for in this Note or the other Loan Documents or now or hereafter existing under applicable law, and the exercise or beginning of exercise
by Lender of any one or more of such rights, powers or remedies, will not preclude the simultaneous or later exercise by Lender of any
and all such other rights, powers or remedies. No delay on the part of the Lender in the exercise of any power or right under this Note
or the other Loan Documents shall operate as a waiver thereof.

 

    	6

     

    

 

11.
Notices. All notices, requests, consents, claims, demands, waivers and other communications hereunder shall be in writing and
shall be deemed to have been given (a) when delivered by hand (with written confirmation of receipt); (b) when received by the addressee
if sent by a nationally recognized overnight courier (receipt requested); (c) on the date sent by e-mail of a PDF document (with confirmation
of transmission) if sent during normal business hours of the recipient, and on the next business day if sent after normal business hours
of the recipient or (d) on the third (3rd) day after the date mailed, by certified or registered mail, return receipt requested, postage
prepaid. Such communications must be sent to the respective parties at the following addresses (or at such other address for a party
as shall be specified in a notice given in accordance with this Section 11):

 

If
to the Lender:

 

Gary
E. Reynolds

8713
Airport Freeway, Suite 100

North Richland Hills, TX 76180

Email:
greynolds@reynoldsasphalt.com

 

with
copies (which shall not constitute notice) to:

 

Bourland,
Wall & Wenzel, P.C.

301
Commerce Street

Suite
2500

Fort
Worth, TX 76102

Attention:
David P. Dunning

Email:
ddunning@bwwlaw.com

 

If
to Borrower:

 

BioLife4D
– SM Trust

318
Half Day Road

Suite
201

Buffalo
Grove, IL 60089

Attention:
Steven R. Morris

Email:
smorris@biolife4d.com

 

with
copies to:

 

HMB
Legal Counsel

500
West Madison Street

Suite
3700

Chicago,
IL 60661

Attention:
Jeffrey A. Hechtman

Email:
jhechtma@hmblaw.com

 

12.
Maximum Interest. Notwithstanding anything contained in this Note or the other Loan Documents to the contrary, Borrower and Lender
intend to conform strictly to the applicable usury laws. In no event shall Lender be entitled to interest exceeding the maximum rate
permitted by law. If the Lender ever receives an amount designated as interest which would exceed the highest lawful rate, the amount
which would be excessive interest shall be applied to the reduction of the unpaid principal balance of this Note in the inverse order
of maturity, and if this Note is paid in full, any remaining excess shall be paid to Borrower. In determining whether or not the interest
paid or payable, under any specific contingency, exceeds the maximum rate of interest permitted by applicable law, Borrower and Lender
shall, to the maximum extent permitted under applicable law (a) characterize any non-principal payment as an expense, fee or premium
rather than as interest, (b) exclude voluntary prepayments and the effects thereof, and (c) “spread” the total amount of
interest throughout the entire term of this Note so that the interest rate is uniform throughout the entire term hereof.

 

    	7

     

    

 

13.
Governing Law; Venue; Jurisdiction. This Note and the other Loan Documents are governed by and construed in accordance
with the substantive laws of the state of Delaware, excluding its conflicts of law provisions. Any dispute arising under, in connection
with, or incident to this Note or the other Loan Documents or about the interpretation thereof will be resolved exclusively in the state
or federal courts located in Tarrant County, Texas. Borrower irrevocably submits to those courts’ venue and jurisdiction. Borrower
waives all defenses of lack of personal jurisdiction and forum non-conveniens. A final judgment in any such suit or action may be enforced
in other jurisdictions by suit on the judgment or in any other manner provided by applicable law.

 

14.
Waiver of Jury Trial. BORROWER HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY
HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY RELATING TO THIS NOTE AND THE OTHER LOAN DOCUMENTS OR THE TRANSACTIONS
CONTEMPLATED HEREBY OR THEREBY WHETHER BASED ON CONTRACT, TORT, OR ANY OTHER THEORY.

 

15.
Modification. None of the terms or provisions of this Note may be excluded, waived, modified or amended except by a written instrument
duly executed on behalf of Borrower and Lender expressly referring to this Note and setting forth the provision so excluded, waived,
modified, or amended.

 

16.
Severability. In the event any one or more of the provisions contained in the Loan Documents should be held to be invalid, illegal
or unenforceable in any respect, the validity, enforceability and legality of the remaining provisions contained in the Loan Documents
shall not in any manner be affected thereby and shall be enforceable in accordance with their terms.

 

17.
Further Assurances. Borrower shall make, execute or endorse, and acknowledge and deliver or file or cause the same to be done,
all notices, certifications and additional agreements, undertakings, conveyances, transfers, assignments and other assurances, and take
any and all such other action, as Lender may, from time to time, reasonably request and that are reasonably necessary or proper in connection
with any of the Loan Documents.

 

18.
Legal Fees and Expenses. On the Effective Date, Borrower shall reimburse Lender for all attorney fees and expenses incurred by
Lender in connection with the evaluation, due diligence, negotiation and preparation of the Loan Documents and loan documents executed
in connection with the Original Note (not to exceed $25,000 in the aggregate). Borrower shall be obligated to the Lender (a) to pay Lender
all reasonable fees, expenses and costs (including reasonable attorneys’ fees and expenses) incurred by the Lender in connection
with any amendments, restatements, replacements, substitutions or modifications of any of the Loan Documents executed or delivered thereafter,
and (b) to pay Lender for all reasonable out-of-pocket expenses and costs (including reasonable attorneys’ fees and court costs)
related to the administration, collection, and enforcement of the Loan Documents.

 

19.
Successors and Assigns. This Note and the other Loan Documents shall be binding upon Borrower and Lender and will inure to the
benefit of Borrower and Lender and their respective successors and permitted assigns, except that Borrower may not assign or transfer
any of its rights or obligations under this Note or the other Loan Documents without the prior written consent of Lender. Lender may,
at any time, assign any of its rights or obligations under this Note or the other Loan Documents without the consent of Borrower.

 

    	8

     

    

 

20.
Construction. Unless the express context otherwise requires: (a) the words “hereof”, “herein”, and “hereunder”
and words of similar import, when used in this Note, shall refer to this Note as a whole and not to any particular provision of this
Note; (b) the terms defined in the singular have a comparable meaning when used in the plural, and vice versa; (c) the terms “Dollars”
and “$” mean United States Dollars; (d) wherever the word “include,” “includes,” or “including”
is used in this Note, it shall be deemed to be followed by the words “without limitation”; (e) the word “or”
shall be disjunctive but not exclusive; and (f) references to the “parties” means Lender and Borrower. The parties agree
that they have been represented by counsel during the negotiation and execution of this Note and, therefore, waive the application of
any applicable law or rule of construction providing that ambiguities in an agreement or other document will be construed against the
party or parties drafting such agreement or document. Unless expressly provided otherwise, any approval or consent required to be given
by a party in this Note shall be given or withheld by such party in its sole discretion.

 

21.
Multiple Counterparts and Facsimile Signatures. This Note and any amendments, waivers, consents or supplements hereto may be executed
in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all taken
together shall constitute a single contract. Delivery of an executed counterpart of a signature page to this Note by facsimile or in
electronic (i.e., “pdf” or “tif”) format shall be effective as delivery of a manually executed counterpart of
this Note.

 

22.
Time of Essence. Time is of the essence for each and every provision of this Note.

 

23.
Trustee Capacity. Each person executing this Note in the capacity of a trustee of a trust has executed and delivered this Note,
not in his individual capacity, but solely as trustee of the trust. The payment and performance of this Note by the trustee and any and
all duties, obligations, and liabilities of the trustee hereunder will be effected by him only as trustee and not in his individual capacity.
The trustee does not undertake nor will he have any personal liability or obligation of any nature whatsoever in his individual capacity
by virtue of the execution and delivery of this Note in the capacity as trustee of a trust. Lender and Borrower acknowledge and agree
that Steven R. Morris does not undertake nor will he have any personal liability or obligation of any nature whatsoever in his individual
capacity or in his capacity as grantor or beneficiary of Borrower by virtue of the execution and delivery of this Note in the capacity
as trustee of a trust. For the avoidance of doubt, Lender shall have full recourse against the trust itself and the trust assets to satisfy
Borrower’s obligations under the Loan Documents.

 

24.
Entirety. This Note and the other Loan Documents embody the final, entire agreement among the parties hereto with respect to the
subject matter hereof and thereof and supersede all prior agreements and understandings, if any, relating to the subject matter hereof
and thereof. For the avoidance of doubt, this Note amends and restates the Original Note in its entirety.

 

25.
Corporation Agreements. The Corporation represents and warrants to Lender that: (a) all of the proceeds from the Bank Loan have
been and will be used solely for working capital purposes, (b) the SEC has no further comments to the Registration Statement, (c) no
notices, filings, or approvals involving Nasdaq, the SEC or any other Governmental Authority, or any other Person are required for the
Corporation to sell or otherwise issue shares of stock in connection with the IPO excepts as follows: an amendment to the Registration
Statement to reflect the transactions contemplated by this Note and the Bank Loan, notice to be provided by the Corporation to the SEC
following completion of the road show and a declaration by the SEC, following such notice, that the registration is “effective”,
and filing of a copy of the amendment to the Registration Statement with Nasdaq and the provision to, or confirmation to, Nasdaq of certain
information required to commence trading, and (d) the pledge or transfer of any shares of common stock from Borrower to Lender pursuant
to the Loan Documents will not violate any applicable securities laws or agreements between Borrower and/or Steven R. Morris. Unless
prohibited by law, the Corporation agrees to provide Lender updates on the status of the IPO. For the avoidance of doubt, the Corporation
is not liable for the payment of this Note.

 

[Signatures
on following page]

 

    	9

     

    

 

EXECUTED
to be effective as of the Effective Date.

 

	 	BORROWER:
	 	 
	 	BIOLIFE4D – SM TRUST, DATED NOVEMBER
    1, 2016
	 	 	                          
	 	By:	/s/
Steven R. Morris

	 	Printed Name:	Steven R. Morris 

	 	Title:	Trustee
	 	 	                           
	 	LENDER:
	 	 
	 	/s/ Gary E. Reynolds
	 	Gary E. Reynolds
	 	 
	 	CORPORATION:
	 	 
	 	For purposes of acknowledging it agreements
    under Section 25 of this Agreement.
	 	 
	 	BIOLIFE4D CORPORATION
	 	 	 
	 	By:	/s/
Steven R. Morris

	 	Printed Name: 	Steven R. Morris

	 	Title:	Chief
Executive Officer

 

[Signature
Page to Secured Promissory Note]

 

    	 

     

    

 

SCHEDULE
“1”

 

ASSETS
AND LIABILITIES OF BORROWER

 

1,600,000
shares of Class A Common Stock of BioLife4D Corporation

 

No
liabilitiesExhibit
10.51

 

AMENDED
AND RESTATED STOCK PLEDGE AGREEMENT

 

This
AMENDED AND RESTATED STOCK PLEDGE AGREEMENT, dated as of December 7, 2022 (as amended, supplemented or otherwise modified from time to
time in accordance with the provisions hereof, this “Agreement”), made by and between BioLife4D – SM Trust,
dated November 1, 2016, a trust organized under the laws of the State of Illinois (the “Pledgor”), in favor of GARY
E. REYNOLDS, an individual residing in the state of Texas (the “Secured Party”).

 

WHEREAS,
on the date hereof, the Secured Party has made a loan to the Pledgor in an aggregate unpaid principal amount of One Million Five Hundred
Thousand and No/100 Dollars ($1,500,000) (the “Loan”), evidenced by that certain Amended and Restated Secured Promissory
Note of even date herewith (as amended, supplemented or otherwise modified from time to time, the “Note”) made by
the Pledgor and payable to the order of the Secured Party. Capitalized terms used but not otherwise defined herein shall have the meanings
assigned to such terms in the Note;

 

WHEREAS,
this Agreement is given by the Pledgor in favor of the Secured Party to secure the payment and performance of all of the Secured Obligations;
and

 

WHEREAS,
it is a condition to the obligation of the Secured Party to make the Loan under the Note that the Pledgor execute and deliver this Agreement.

 

NOW,
THEREFORE, in consideration of the mutual covenants, terms and conditions set forth herein, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

 

1.
Definitions.

 

(a)
Unless otherwise specified herein, all references to Sections and Schedules herein are to Sections and Schedules of this Agreement.

 

(b)
Unless otherwise defined herein, terms used herein that are defined in the UCC shall have the meanings assigned to them in the UCC. However,
if a term is defined in Article 9 of the UCC differently than in another Article of the UCC, the term has the meaning specified in Article
9.

 

(c)
For purposes of this Agreement, the following terms shall have the following meanings:

 

“Corporation”
means Biolife4D Corporation, a Delaware corporation, and any successor thereto. “Collateral” has the meaning set forth
in Section 2.

 

“Event
of Default” has the meaning set forth in the Note.

 

“Pledged
Shares” means 150,000 shares of common stock, par value $0.00001, in the Corporation, and the certificates, instruments and
agreements representing the Pledged Shares and includes any securities or other interests, howsoever evidenced or denominated, received
by the Pledgor in exchange for or as a dividend or distribution on or otherwise received in respect of the Pledged Shares.

 

“Proceeds”
means “proceeds” as such term is defined in Section 9-102 of the UCC and, in any event, shall include, without limitation,
all dividends or other income from the Pledged Shares, collections thereon or distributions with respect thereto.

 

    	1

     

    

 

“Secured
Obligations” has the meaning set forth in Section 3.

 

“UCC”
means the Uniform Commercial Code as in effect from time to time in the State of Delaware or, when the laws of any other state govern
the method or manner of the perfection or enforcement of any security interest in any of the Collateral, the Uniform Commercial Code
as in effect from time to time in such state.

 

2.
Pledge. The Pledgor hereby pledges, assigns and grants to the Secured Party, and hereby creates a continuing first priority lien
and security interest in favor of the Secured Party in and to all of its right, title and interest in and to the following, wherever
located, whether now existing or hereafter from time to time arising or acquired (collectively, the “Collateral”):

 

(a)
the Pledged Shares; and

 

(b)
all Proceeds and products of the foregoing, all books and records relating to the foregoing, all supporting obligations related thereto,
and all accessions of and to, substitutions and replacements for, and profits and products of, each of the foregoing, and any and all
Proceeds of any insurance, indemnity, warranty or guaranty payable to the Pledgor from time to time with respect to any of the foregoing.

 

Pledgor
has, concurrently herewith, delivered to Secured Party the stock certificate(s) evidencing the Pledged Shares together with appropriate
stock powers executed in blank in form satisfactory to the Secured Party.

 

3.
Secured Obligations. The Collateral secures the due and prompt payment and performance of:

 

(a)
the obligations of the Pledgor from time to time arising under the Note, this Agreement or otherwise with respect to the due and prompt
payment of (i) the principal of and premium, if any, and interest on the Loan (including interest accruing during the pendency of any
bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding), when
and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise and (ii) all other monetary
obligations, including fees, costs, attorneys’ fees and disbursements, reimbursement obligations, contract causes of action, expenses
and indemnities, whether primary or secondary, direct or indirect, absolute or contingent, due or to become due, now existing or hereafter
arising, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership
or other similar proceeding, regardless of whether allowed or allowable in such proceeding), of the Pledgor under or in respect of the
Note, this Agreement or any other Loan Documents; and

 

(b)
all other covenants, duties, debts, obligations and liabilities of any kind of the Pledgor under or in respect of the Note, this Agreement
or any other Loan Documents, in each case whether evidenced by a note or other writing, whether allowed in any bankruptcy, insolvency,
receivership or other similar proceeding, whether arising from an extension of credit, issuance of a letter of credit, acceptance, loan,
guaranty, indemnification or otherwise, and whether primary or secondary, direct or indirect, absolute or contingent, due or to become
due, now existing or hereafter arising, fixed or otherwise (all such obligations, covenants, duties, debts, liabilities, sums and expenses
set forth in Section 3 being herein collectively called the “Secured Obligations”).

 

    	2

     

    

 

4.
Perfection of Pledge.

 

(a)
The Pledgor shall, from time to time, promptly take all actions as may be reasonably requested by the Secured Party to perfect the security
interest of the Secured Party in the Collateral, including, without limitation, with respect to all Collateral over which control may
be obtained within the meaning of Section 8-106 of the UCC, the Pledgor shall promptly take all actions as may be reasonably requested
from time to time by the Secured Party so that control of such Collateral is obtained and at all times held by the Secured Party. All
of the foregoing shall be at the sole cost and expense of the Pledgor.

 

(b)
The Pledgor hereby irrevocably authorizes the Secured Party at any time and from time to time to file in any relevant jurisdiction any
financing statements and amendments thereto and continuations thereof that contain the information required by Article 9 of the UCC of
each applicable jurisdiction for the filing of any financing statement, amendment, or continuation relating to the Collateral, without
the signature of the Pledgor where permitted by law. The Pledgor agrees to provide all information reasonably requested by the Secured
Party pursuant to this Section promptly to the Secured Party upon request.

 

5.
Representations and Warranties. The Pledgor represents and warrants as follows:

 

(a)
The Pledged Shares have been duly authorized and validly issued, and are fully paid and non-assessable and subject to no options to purchase
or similar rights.

 

(b)
The Pledgor is the sole, direct, legal and beneficial owner of the Collateral, free and clear of any lien, security interest, encumbrance,
claim, option or right of others except for the security interest created by this Agreement.

 

(c)
The pledge of the Collateral pursuant to this Agreement creates a valid and perfected first priority security interest in the Collateral,
securing the payment and performance when due of the Secured Obligations.

 

(d)
Pledgor has full power, authority and legal right to borrow the Loan and pledge the Collateral pursuant to this Agreement.

 

(e)
Each of this Agreement and the Note has been duly authorized, executed and delivered by the Pledgor and constitutes a legal, valid and
binding obligation of the Pledgor enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization,
moratorium or other similar laws affecting creditors’ rights generally and subject to equitable principles (regardless of whether
enforcement is sought in equity or at law).

 

(f)
No authorization, approval, or other action by, and no notice to or filing with, any governmental authority, regulatory body or any other
entity is required for the borrowing of the Loan and the pledge by the Pledgor of the Collateral pursuant to this Agreement or for the
execution and delivery of the Note and this Agreement by the Pledgor or the performance by the Pledgor of its obligations thereunder
or hereunder.

 

(g)
The execution and delivery of the Note and this Agreement by the Pledgor and the performance by the Pledgor of its obligations thereunder,
will not violate any provision of any applicable law or regulation or any order, judgment, writ, award or decree of any court, arbitrator
or governmental authority, domestic or foreign, applicable to the Pledgor or any of its property, or the organizational or governing
documents of the Pledgor or any agreement or instrument to which the Pledgor is party or by which it or its property is bound.

 

    	3

     

    

 

(h)
The Pledgor has taken all action required on its part for control (as defined in Section 8-106 of the UCC) to have been obtained
by the Secured Party over all Collateral with respect to which such control may be obtained pursuant to the UCC. No person other than
the Secured Party has control or possession of all or any part of the Collateral. Without limiting the foregoing, all certificates, agreements
or instruments representing or evidencing the Pledged Shares in existence on the date hereof have been delivered to the Secured Party
in suitable form for transfer by delivery or accompanied by duly executed undated instruments of transfer or assignment in blank.

 

6.
Dividends and Voting Rights.

 

(a)
The Secured Party agrees that unless an Event of Default shall have occurred and be continuing, the Pledgor may, to the extent the Pledgor
has such right as a holder of the Pledged Shares, vote and give consents, ratifications and waivers with respect thereto, except to the
extent that, in the Secured Party’s judgment, any such vote, consent, ratification or waiver could detract from the value thereof
as Collateral or which could be inconsistent with or result in any violation of any provision of the Note or this Agreement, and from
time to time, upon request from the Pledgor, the Secured Party shall deliver to the Pledgor suitable proxies so that the Pledgor may
cast such votes, consents, ratifications and waivers.

 

(b)
All cash dividends and distributions with respect to the Pledged Shares shall be held by the Pledgor and may not be distributed until
the Maturity Date and repayment of any outstanding Secured Obligations.

 

(c)
All non-cash dividends and distributions with respect to the Pledged Shares shall become part of the Collateral.

 

7.
Further Assurances.

 

(a)
The Pledgor shall, at its own cost and expense, defend title to the Collateral and the first priority lien and security interest of the
Secured Party therein against the claim of any person claiming against or through the Pledgor and shall maintain and preserve such perfected
first priority security interest for so long as this Agreement shall remain in effect.

 

(b)
The Pledgor agrees that at any time and from time to time, at the expense of the Pledgor, the Pledgor will promptly execute and deliver
all further instruments and documents, obtain such agreements from third parties, and take all further action, that may be necessary
or desirable, or that the Secured Party may reasonably request, in order to create and/or maintain the validity, perfection or priority
of and protect any security interest granted or purported to be granted hereby or to enable the Secured Party to exercise and enforce
its rights and remedies hereunder or under any other agreement with respect to any Collateral.

 

(c)
Subject to any other restrictions contained in any of the Loan Documents, the Pledgor will not, without providing at least 30 days’
prior written notice to the Secured Party, change its legal name, identity, type of organization, jurisdiction of organization, corporate
structure, location of its chief executive office or its principal place of business, its Federal Taxpayer Identification Number or its
organizational identification number. The Pledgor will, prior to any change described in the preceding sentence, take all actions reasonably
requested by the Secured Party to maintain the perfection and priority of the Secured Party’s security interest in the Collateral
at the sole cost and expense of the Pledgor.

 

    	4

     

    

 

8.
Transfers and Other Liens. The Pledgor agrees that it will not sell, offer to sell, dispose of, convey, assign, donate or otherwise
transfer, grant any option with respect to, restrict, or grant, create, permit or suffer to exist any mortgage, pledge, lien, security
interest, option, right of first offer, encumbrance or other restriction or limitation of any nature whatsoever on, any of the Collateral
or any interest therein except as expressly provided for herein or with the prior written consent of the Secured Party.

 

9.
Secured Party Appointed Attorney-in-Fact. The Pledgor hereby appoints the Secured Party the Pledgor’s attorney-in-fact,
with full authority in the place and stead of the Pledgor and in the name of the Pledgor or otherwise, from time to time following any
Event of Default, in the Secured Party’s sole discretion to take any action and to execute any instrument which the Secured Party
may deem necessary or advisable to accomplish the purposes of this Agreement, including, without limitation, to receive, endorse and
collect all instruments made payable to the Pledgor representing any dividend, interest payment or other distribution in respect of the
Collateral or any part thereof and to give full discharge for the same (but the Secured Party shall not be obligated to and shall have
no liability to the Pledgor or any third party for failure to do so or take action). Such appointment, being coupled with an interest,
shall be irrevocable. The Pledgor hereby ratifies all that said attorneys shall lawfully do or cause to be done by virtue hereof.

 

10.
Secured Party May Perform. If the Pledgor fails to perform any obligation contained in this Agreement, or if any representation
or warranty on the part of the Pledgor contained herein shall be breached, the Secured Party may itself perform, or cause performance
of, such obligation, or remedy such breach, and the expenses of the Secured Party incurred in connection therewith shall be payable by
the Pledgor; provided that the Secured Party shall not be required to perform or discharge any obligation of the Pledgor. Neither the
provisions of this Section 10 nor any action taken by the Secured Party pursuant to the provisions of this Section 10 shall
prevent any such failure to observe any covenant contained in this Agreement or any breach of representation or warranty from constituting
an Event of Default.

 

11.
Reasonable Care. The Secured Party shall have no duty with respect to the care and preservation of the Collateral beyond the exercise
of reasonable care. The Secured Party shall be deemed to have exercised reasonable care in the custody and preservation of the Collateral
in its possession if the Collateral is accorded treatment substantially equal to that which the Secured Party accords its own property,
it being understood that the Secured Party shall not have any responsibility for (a) ascertaining or taking action with respect to calls,
conversions, exchanges, maturities, tenders or other matters relative to any Collateral, whether or not the Secured Party has or is deemed
to have knowledge of such matters, or (b) taking any necessary steps to preserve rights against any parties with respect to any Collateral.
Nothing set forth in this Agreement, nor the exercise by the Secured Party of any of the rights and remedies hereunder, shall relieve
the Pledgor from the performance of any obligation on the Pledgor’s part to be performed or observed in respect of any of the Collateral.

 

    	5

     

    

 

12.
Remedies Upon Default.

 

(a)
If any Event of Default shall have occurred and be continuing, the Secured Party may, without any other notice to or demand upon the
Pledgor, assert all rights and remedies of a secured party under the UCC or other applicable law, including, without limitation, the
right to take possession of, hold, collect, sell, lease, deliver, grant options to purchase or otherwise retain, liquidate or dispose
of all or any portion of the Collateral. If notice prior to disposition of the Collateral or any portion thereof is necessary under applicable
law, written notice mailed or delivered to the Pledgor at its notice address as provided in the Note ten (10) days prior to the date
of such disposition shall constitute reasonable notice, but notice given in any other reasonable manner shall be sufficient. So long
as the sale of the Collateral is made in a commercially reasonable manner, the Secured Party may sell such Collateral on such terms and
to such purchaser(s) as the Secured Party in its absolute discretion may choose, without assuming any credit risk and without any obligation
to advertise or give notice of any kind other than that necessary under applicable law. Without precluding any other methods of sale,
the sale of the Collateral or any portion thereof shall have been made in a commercially reasonable manner if conducted in conformity
with reasonable commercial practices of creditors disposing of similar property. At any sale of the Collateral, if permitted by applicable
law, the Secured Party may be the purchaser, licensee, assignee or recipient of the Collateral or any part thereof and shall be entitled,
for the purpose of bidding and making settlement or payment of the purchase price for all or any portion of the Collateral sold, assigned
or licensed at such sale, to use and apply any of the Secured Obligations as a credit on account of the purchase price of the Collateral
or any part thereof payable at such sale. To the extent permitted by applicable law, the Pledgor waives all claims, damages and demands
it may acquire against the Secured Party arising out of the exercise by it of any rights hereunder. The Pledgor hereby waives and releases
to the fullest extent permitted by law any right or equity of redemption with respect to the Collateral, whether before or after sale
hereunder, and all rights, if any, of marshalling the Collateral and any other security for the Secured Obligations or otherwise. At
any such sale, unless prohibited by applicable law, the Secured Party or any custodian may bid for and purchase all or any part of the
Collateral so sold free from any such right or equity of redemption. Neither the Secured Party nor any custodian shall be liable for
failure to collect or realize upon any or all of the Collateral or for any delay in so doing, nor shall it be under any obligation to
take any action whatsoever with regard thereto.

 

(b)
If any Event of Default shall have occurred and be continuing, all rights, if any, of the Pledgor to (i) exercise the voting and other
consensual rights it would otherwise be entitled to exercise pursuant to Section 6(a) and (ii) receive the dividends and other
distributions which it would otherwise be entitled to receive and retain pursuant to Section 6(b), shall immediately cease, and
all such rights shall thereupon become vested in the Secured Party, which shall have the sole right to exercise such voting and other
consensual rights and receive and hold such dividends and other distributions as Collateral.

 

(c)
If any Event of Default shall have occurred and be continuing, any cash held by the Secured Party as Collateral and all cash Proceeds
received by the Secured Party in respect of any sale of, collection from, or other realization upon all or any part of the Collateral
shall be applied in whole or in part by the Secured Party to the payment of expenses incurred by the Secured Party in connection with
the foregoing or incidental to the care or safekeeping of any of the Collateral or in any way relating to the Collateral or the rights
of the Secured Party hereunder, including reasonable attorneys’ fees, and the balance of such proceeds shall be applied or set
off against all or any part of the Secured Obligations in such order as the Secured Party shall elect. Any surplus of such cash or cash
Proceeds held by the Secured Party and remaining after payment in full of all the Secured Obligations shall be paid over to the Pledgor
or to whomsoever may be lawfully entitled to receive such surplus. The Pledgor shall remain liable for any deficiency if such cash and
the cash Proceeds of any sale or other realization of the Collateral are insufficient to pay the Secured Obligations and the fees and
other charges of any attorneys employed by the Secured Party to collect such deficiency.

 

(d)
If the Secured Party shall determine to exercise its rights to sell all or any of the Collateral pursuant to this Section, the Pledgor
agrees that, upon request of the Secured Party, the Pledgor will, at its own expense, do or cause to be done all such acts and things
as may be necessary to make such sale of the Collateral or any part thereof valid and binding and in compliance with applicable law.

 

    	6

     

    

 

13.
No Waiver and Cumulative Remedies. The Secured Party shall not by any act (except by a written instrument pursuant to Section
20), delay, indulgence, omission or otherwise be deemed to have waived any right or remedy hereunder or to have acquiesced in any
Event of Default. All rights and remedies herein provided are cumulative and are not exclusive of any rights or remedies set forth in
any other Loan Documents or provided by law.

 

14.
SECURITY INTEREST ABSOLUTE. The Pledgor hereby waives demand, notice, protest, notice of acceptance of this Agreement, notice
of loans made, credit extended, Collateral received or delivered, or other action taken in reliance hereon and all other demands and
notices of any description. All rights of the Secured Party and liens and security interests hereunder, and all Secured Obligations of
the Pledgor hereunder, shall be absolute and unconditional irrespective of:

 

(a)
any illegality or lack of validity or enforceability of any Secured Obligation or any related agreement or instrument;

 

(b)
any change in the time, place or manner of payment of, or in any other term of, the Secured Obligations, or any rescission, waiver, amendment
or other modification of the Note, this Agreement or any Loan Documents, including any increase in the Secured Obligations resulting
from any extension of additional credit or otherwise;

 

(c)
any taking, exchange, substitution, release, impairment or non-perfection of any Collateral or any other collateral, or any taking, release,
impairment, amendment, waiver or other modification of any guaranty, for all or any of the Secured Obligations;

 

(d)
any manner of sale, disposition or application of proceeds of any Collateral or any other collateral or other assets to all or part of
the Secured Obligations;

 

(e)
any default, failure or delay, willful or otherwise, in the performance of the Secured Obligations;

 

(f)
any defense, set-off or counterclaim (other than a defense of payment or performance) that may at any time be available to, or be asserted
by, the Pledgor against the Secured Party; or

 

(g)
any other circumstance (including, without limitation, any statute of limitations) or manner of administering the Loan or any existence
of or reliance on any representation by the Secured Party that might vary the risk of the Pledgor or otherwise operate as a defense available
to, or a legal or equitable discharge of, the Pledgor or any other grantor, guarantor or surety.

 

15.
Addresses For Notices. All notices and other communications provided for in this Agreement shall be in writing and shall be given
in the manner and become effective as set forth in the Note, and addressed to the respective parties at their addresses as specified
in the Note or as to either party at such other address as shall be designated by such party in a written notice to each other party
in accordance with the Note.

 

16.
Continuing Security Interest; Further Actions. This Agreement shall create a continuing first priority lien and security interest
in the Collateral and shall, subject to Section 17, remain in full force and effect until payment and performance in full of the
Secured Obligations.

 

17.
Termination; Release. On the date on which the Loan and other Secured Obligations have been paid and performed in full, the Secured
Party will, at the request and sole expense of the Pledgor, (a) duly assign, transfer and deliver to or at the direction of the Pledgor
(without recourse and without any representation or warranty) such of the Collateral as may then remain in the possession of the Secured
Party, and (b) execute and deliver to the Pledgor a proper instrument or instruments acknowledging the satisfaction and termination of
this Agreement.

 

    	7

     

    

 

18.
Governing Law; Venue; Jurisdiction. This Agreement and the other Loan Documents are governed by and construed in accordance
with the substantive laws of the state of Delaware, excluding its conflicts of law provisions. Any dispute arising under, in connection
with, or incident to this Agreement or the other Loan Documents or about the interpretation thereof will be resolved exclusively in the
state or federal courts located in Tarrant County, Texas. Pledgor irrevocably submits to those courts’ venue and jurisdiction.
Pledgor waives all defenses of lack of personal jurisdiction and forum non-conveniens. A final judgment in any such suit or action may
be enforced in other jurisdictions by suit on the judgment or in any other manner provided by applicable law.

 

19.
Waiver of Jury Trial. PLEDGOR HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE
TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY RELATING TO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS OR THE TRANSACTIONS
CONTEMPLATED HEREBY OR THEREBY WHETHER BASED ON CONTRACT, TORT, OR ANY OTHER THEORY.

 

20.
Modification. None of the terms or provisions of this Agreement may be excluded, waived, modified or amended except by a written
instrument duly executed on behalf of Pledgor and Secured Party expressly referring to this Agreement and setting forth the provision
so excluded, waived, modified, or amended.

 

21.
Severability. In the event any one or more of the provisions contained in the Loan Documents should be held to be invalid, illegal
or unenforceable in any respect, the validity, enforceability and legality of the remaining provisions contained in the Loan Documents
shall not in any manner be affected thereby and shall be enforceable in accordance with their terms.

 

22.
Legal Fees and Expenses. Pledgor shall be obligated to the Secured Party (a) to pay Secured Party all reasonable fees, expenses
and costs (including reasonable attorneys’ fees and expenses) incurred by the Secured Party in connection with any amendments,
restatements, replacements, substitutions or modifications of any of the Loan Documents executed or delivered thereafter, and (b) to
pay Secured Party for all reasonable out-of-pocket expenses and costs (including reasonable attorneys’ fees and court costs) related
to the administration, collection, and enforcement of the Loan Documents.

 

23.
Successors and Assigns. This Agreement and the other Loan Documents shall be binding upon Pledgor and Secured Party and will inure
to the benefit of Pledgor and Secured Party and their respective successors and permitted assigns, except that Pledgor may not assign
or transfer any of its rights or obligations under this Note or the other Loan Documents without the prior written consent of Secured
Party. Secured Party may, at any time, assign any of its rights or obligations under this Agreement or the other Loan Documents without
the consent of Pledgor.

 

24.
Construction. Unless the express context otherwise requires: (a) the words “hereof”, “herein”, and “hereunder”
and words of similar import, when used in this Agreement, shall refer to this Agreement as a whole and not to any particular provision
of this Agreement; (b) the terms defined in the singular have a comparable meaning when used in the plural, and vice versa; (c) the terms
“Dollars” and “$” mean United States Dollars; (d) wherever the word “include,” “includes,”
or “including” is used in this Agreement, it shall be deemed to be followed by the words “without limitation”;
(e) the word “or” shall be disjunctive but not exclusive, and (f) references to the “parties” means Secured Party
and Pledgor. The parties agree that they have been represented by counsel during the negotiation and execution of this Agreement and,
therefore, waive the application of any applicable law or rule of construction providing that ambiguities in an agreement or other document
will be construed against the party or parties drafting such agreement or document. Unless expressly provided otherwise, any approval
or consent required to be given by a party in this Agreement shall be given or withheld by such party in its sole discretion.

 

    	8

     

    

 

25.
Multiple Counterparts and Facsimile Signatures. This Agreement and any amendments, waivers, consents or supplements hereto may
be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original,
but all taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page to this Agreement
by facsimile or in electronic (i.e., “pdf” or “tif”) format shall be effective as delivery of a manually executed
counterpart of this Agreement.

 

26.
Time of Essence. Time is of the essence for each and every provision of this Agreement.

 

27.
Trustee Capacity. Each person executing this Agreement in the capacity of a trustee of a trust has executed and delivered this
Agreement, not in his individual capacity, but solely as trustee of the trust. The payment and performance of this Agreement by the trustee
and any and all duties, obligations, and liabilities of the trustee hereunder will be effected by him only as trustee and not in his
individual capacity. The trustee does not undertake nor will he have any personal liability or obligation of any nature whatsoever in
his individual capacity by virtue of the execution and delivery of this Agreement in the capacity as trustee of a trust. Secured Party
and Pledgor acknowledge and agree that Steven R. Morris does not undertake nor will he have any personal liability or obligation of any
nature whatsoever in his individual capacity or in his capacity as grantor or beneficiary of Pledgor by virtue of the execution and delivery
of this Agreement in the capacity as trustee of a trust. For the avoidance of doubt, Secured Party shall have full recourse against the
trust itself and all of the trust assets to satisfy Pledgor’s obligations under the Loan Documents.

 

28.
Entirety. This Agreement and the other Loan Documents embody the final, entire agreement among the parties hereto with respect
to the subject matter hereof and thereof and supersede all prior agreements and understandings, if any, relating to the subject matter
hereof and thereof. For the avoidance of doubt, this Agreement amends and restates that certain Stock Pledge Agreement dated May, 18,
2022 between Pledgor and Secured Party in its entirety.

 

[SIGNATURE
PAGE FOLLOWS]

 

    	9

     

    

 

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

 

	 	PLEDGOR: BIOLIFE4D – SM TRUST,

                                                                          DATED NOVEMBER 1, 2016

	 	 	 
	 	By:	/s/
Steven R. Morris 
	 	Name:	Steven R. Morris 
	 	Title:	Trustee
	 	 	 
	 	SECURED PARTY
	 	 	 
	 	By:	/s/
Gary E. Reynolds
	 	Name:	Gary
E. Reynolds

 

    	10

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