Document:

EX-10.1

 Exhibit 10.1 

EXECUTIVE EMPLOYMENT AGREEMENT 

THIS EMPLOYMENT AGREEMENT (“Agreement”), effective as of the      day of
            , 2017 (“Effective Date”), by and among Riverview Financial Corporation (the “Corporation”), with offices at 3901 N. Front Street, Harrisburg,
PA 17110, Riverview Bank (the “Bank”), with offices at 200 Front Street, PO Box B, Marysville, Pennsylvania, 17053, and Michael J. Bibak, a Pennsylvania resident (hereinafter referred to as “Executive”). 

Background 
 The Corporation and
the Bank, which is a wholly owned subsidiary of the Corporation, desire to employ Executive, and Executive desires to be employed by the Corporation and the Bank, as the Chief Operating Officer of the Corporation and the Bank. The parties wish to
enter into this employment agreement to memorialize the terms and conditions of Executive’s employment as Chief Operating Officer. 

NOW THEREFORE, in consideration of the mutual covenants set forth below and other valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, and intending to be legally bound, the parties agree as follows: 
  

	1.	POSITION; DUTIES; TERM 

  

	 	1.1.	Position. The Corporation and the Bank hereby employ the Executive as Chief Operating Officer, and the Executive hereby accepts this employment and agrees to render such services to the Corporation and the Bank
on the terms and conditions as set forth in this Agreement. 

  

	 	1.2.	Duties. During the Term, the Executive shall perform such duties for the Bank and Corporation as are consistent with Executive’s title and as are assigned to Executive by the Bank’s Board of Directors,
Chief Executive Officer (“CEO”) or President. The Executive shall devote substantially all of Executive’s business time and attention to the performance of Executive’s duties hereunder and will not engage in any other
business, profession or occupation for compensation or otherwise without the prior written consent of the Board. The Executive will be permitted to act or serve as a director, trustee, or committee member of any type of civic or charitable
organization as long as such activities do not materially interfere with the performance of the Executive’s duties and responsibilities to the Corporation and the Bank as provided hereunder. 

 

	 	1.3.	Term. 

  

	 	a.	The term of this Agreement shall begin on the effective date of the merger of CBT Financial Corp. with and into the Corporation pursuant to the Agreement and Plan of Merger, entered into between CBT Financial Corp. and
the Corporation, dated             , 2017 (the “Effective Date”) and shall end on the second anniversary of the Effective Date (the “Initial Term”). If the
Agreement and Plan of Merger is terminated for any reason, this Agreement shall simultaneously terminate. 

	 	b.	The Initial Term shall be automatically extended for successive additional one year periods on each anniversary of the Effective Date, unless either party provides written notice to the other of its intention not to
extend the term at least 90 days prior to the applicable renewal date (as so extended, the “Term”) subject, in all cases, to earlier termination as provided by this Agreement. 

 

	2.	COMPENSATION AND BENEFITS 

  

	 	2.1.	Annual Base Salary. The Bank will compensate the Executive for the Executive’s services during the Term at a minimum annual base salary of $300,000 per year, effective through December 31, 2018 (the
“Annual Base Salary”), payable at the same times as salaries are payable to other executive employees. After December 31, 2018, the Bank may, from time to time, increase, and may not decrease, the Executive’s Annual Base
Salary, and any and all such changes shall be deemed to constitute amendments to this Section to reflect the revised amount. 

  

	 	2.2.	Bonus. Starting with fiscal year 2018, the Executive shall be entitled to participate in an annual bonus plan which shall provide Executive with the opportunity to earn additional compensation based upon
achievement of corporate budget goals as well as individual performance, such bonus plan to be as offered and approved annually by the Corporation’s Board of Directors. 

 

	 	2.3.	Employee Benefits. During the Term, the Executive shall be entitled to participate in any employee benefit plan of the Bank relating to pension, profit-sharing or other retirement benefits and health or medical
coverage or reimbursement plans that the Bank may adopt for the benefit of its employees, subject to the terms and conditions specified in such plans. Executive will be entitled to the use of a Company provided vehicle, and shall be entitled to paid
time off of a minimum of twenty-five (25) days each year of the Initial Term and any subsequent Term, which shall carry over to the following year, if at all, in accordance with the Bank’s policies regarding the carry-over of paid time
off. If the Corporation requires Employee to relocate to a work location that is greater than fifty (50) miles from Executive’s primary work location to which Executive is assigned as of the Effective Date the Corporation shall reimburse
Employee for the cost of hiring a moving company and other mutually agreed upon moving expenses. 

  

	 	2.4.	Stock Based Compensation. The Executive shall be entitled to participate in any equity grant program approved by the Board of Directors on such terms as shall be determined by the Board and subject to the terms
of any associated plan. 

  

	 	2.5.	 Waiver of Change in Control Benefits. The Executive hereby waives any and all of the Executive’s
right or entitlement to receive or retain any payments or benefits described in the Change in Control Benefits provision as set forth in Section 5 of Executive’s Employment Agreement between Executive and Clearfield Bank and Trust Company,

  
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effective January 1, 2016. Executive specifically agrees to waive any and all right to severance pay, life insurance coverage, and medical and dental insurance as described in
Section 5(b) of Executive’s Employment Agreement with Clearfield Bank and Trust Company. Upon Executive’s execution of this Agreement, this Change in Control Benefits Waiver is irrevocable and may not be amended or otherwise modified
without the prior written consent of the Corporation, the Bank, and the Executive. 

  

	3.	COMPETITIVE ACTIVITIES 

  

	 	3.1.	Restrictive Covenants. The Executive hereby acknowledges and recognizes the highly competitive nature of the business of the Corporation and the Bank and accordingly agrees that, during the Term of this
Agreement, and for a period of twelve (12) months from the last day of Executive’s employment, the Executive shall not, except as otherwise permitted in writing by the Bank: 

 

	 	a.	be engaged, directly or indirectly, either for Executive’s own account or as agent, consultant, employee, partner, officer, director, proprietor, investor (except as an investor owning less than 5% of the stock of
a publicly owned company) or otherwise of any person, firm, corporation or enterprise engaged in (1) the banking (including bank holding company) or financial services industry, or (2) any other activity in which the Corporation or the
Bank or any of their subsidiaries are engaged during the Term in any county in which, at any time during the Term or as of the date of the Executive’s termination, a branch, office or other facility of the Corporation or the Bank is located,
and any county contiguous thereto (“Non-Competition Area”); 

  

	 	b.	provide financial assistance, financial services, or financial advice to any person, firm, corporation, or enterprise engaged in (1) the banking (including bank holding company) or financial services industry, or
(2) any other activity in which the Corporation or the Bank or any of their subsidiaries are engaged during the Term, in the Non-Competition Area; 

 

	 	c.	directly or indirectly solicit persons or entities who were customers or referral sources of the Corporation, the Bank or their subsidiaries within the one (1) year period prior to the Executive’s termination
of employment, to become a customer or referral source of a person or entity which competes with the Corporation, the Bank or their subsidiaries or affiliates; or 

 

	 	d.	directly or indirectly solicit employees of the Corporation, the Bank or their subsidiaries who were employed within the two (2) year period prior to the Executive’s termination of employment to work for
anyone other than the Corporation, the Bank or their subsidiaries or affiliates. 

  

	 	e.	The restrictions set forth in Sections 3.1(a) and 3.1(b), above, shall not apply in the event that Executive’s employment is terminated by the Corporation or the Bank without Cause or for Disability.

  
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	 	3.2.	Protection of Trade Secrets and Confidential Information. 

  

	 	a.	The Executive shall not, during Executive’s Employment or at any time thereafter, except in the regular course of Executive’s services for the Bank or the Corporation, disclose or use for the Executive’s
direct or indirect benefit, the direct or indirect benefit of any third party, or for any other purpose any Confidential Information or any trade secrets learned or obtained by him/her while employed by the Bank and the Corporation. As used herein,
the term “Confidential Information” means information disclosed to the Executive or known by him/her as a consequence of or through Executive’s employment with the Bank and the Corporation and not generally known in the
industry in which the Bank and the Corporation are engaged and which in any way relates to the Bank’s or the Corporation’s software, including but not limited to algorithms, interfaces, data structures or software, whether in source or
object form; and the Bank’s and the Corporation’s products, processes, services, inventions (whether or not such inventions are patentable), formulas, techniques or know how, including, but not limited to, books of business, customer and
client lists, customer and client contact information, customer and client preference information, referral lists and contact information; and information relating to research, development, purchasing, accounting, marketing, business development,
merchandising and selling, financial records, sales records and data, historical volumes, and competitive sales and marketing outreach strategies, and trade secrets as defined by Pennsylvania law or the federal Defend Trade Secrets Act.

  

	 	b.	Notwithstanding the foregoing non-disclosure obligations, pursuant to 18 U.S.C. Section 1833(b), Executive shall not be held criminally or civilly liable under any federal or
state trade secret law for the disclosure of a trade secret that is made: (i) in confidence to a federal, state or local government official, either directly or indirectly, or to an attorney, and solely for the purpose of reporting or
investigating a suspected violation of law; or (ii) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. 

 

	 	3.3.	Remedies for Breach of Section 3. 

  

	 	a.	Equitable Relief. The Executive acknowledges and agrees that in the event that the Executive breaches any of the covenants in Section 3, the Bank and the Corporation will suffer immediate and irreparable
harm and injury for which the Bank and the Corporation will have no adequate remedy at law. Accordingly, in the event that the Executive breaches any of the covenants in Section 3, the Bank and the Corporation shall be absolutely entitled to
obtain equitable relief, including without limitation temporary restraining orders, preliminary injunctions, permanent injunctions, and specific performance without the posting of a bond. The foregoing remedies and relief shall be cumulative and in
addition to any other remedies available to the Bank and the Corporation under Pennsylvania law and the federal Defend Trade Secrets Act. 

  
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	 	b.	Tolling of Period. In the event that the Executive shall breach any of the covenants in Section 3, then the restrictive periods specified in Section 3 shall be tolled during the period of such breach
and shall only resume after all breaches by the Executive of Section 3 have ceased. 

  

	 	c.	Judicial Cure. All disputes regarding the validity and scope of, and actions to enforce, the restrictive covenants and provisions in Section 3 may be submitted to either a court of competent
jurisdiction located in the Commonwealth of Pennsylvania, or submitted for resolution in the city where the Corporation’s primary office is located, to the American Arbitration Association in accordance with Section 6, below, at the
Bank’s and the Corporation’s election. It is expressly understood and agreed that, although the Executive and the Corporation and the Bank consider the restrictions contained in Section 3 to be reasonable for the purpose of preserving
for the Corporation and the Bank and their subsidiaries their good will and other proprietary rights, if a final judicial determination is made by an arbitrator or court of competent jurisdiction that the time or territory or any other restriction
contained in Section 3 is an unreasonable or otherwise unenforceable against the Executive, the provisions of Section 3 hereof shall not be rendered void but shall be deemed amended to apply as to such maximum time and territory and to
such other extent as such court may judicially determine or indicate to be reasonable. 

  

	4.	TERMINATION. Notwithstanding Section 1.3, Executive’s employment may be terminated prior to the end of the Term. Upon termination of Executive’s employment prior to the end of the Term,
Executive’s right to compensation and other benefits under this agreement shall be exclusively as stated in this Section 4. However, Executive’s obligations under the restrictive covenants and
non-disclosure provisions set forth in Section 3 will survive the termination of Executive’s employment under this Agreement. 

 

	 	4.1.	Termination for Cause or Without Good Reason. Upon termination of the Executive’s employment by the Bank for Cause, or by the Executive without Good Reason, all of Executive’s rights under this
Agreement shall cease as of the effective date of such termination, except that Bank shall pay to Executive the unpaid portion, if any, of Executive’s Annual Base Salary through the effective date of termination on a pro-rata basis. For purposes of this agreement “Cause” includes: 

  

	 	a.	the Executive’s conviction of, or plea of guilty or nolo contendere to, a felony (other than a traffic violation, unless Executive can no longer continue to perform Executive’s duties under this Agreement at
his assigned work location, in the sole determination of the Corporation or the Bank); a crime of dishonesty, breach of trust, or money laundering; or a crime involving moral turpitude, or the actual incarceration of Executive; 

 

	 	b.	the Executive’s willful failure to follow the lawful instructions of the President, CEO, Board of Directors or their designee; 

  

	 	c.	the Executive’s willful or repeated failure to perform the Executive’s duties; 

  
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	 	d.	the Executive’s material violation of this Agreement, including but not limited to the Executive’s breach or threatened breach of Executive’s obligations set forth in the restrictive covenants or non-disclosure provisions in Section 3; 

  

	 	e.	dishonesty or gross negligence of the Executive in the performance of Executive’s duties; 

  

	 	f.	conduct on the part of the Executive that harms the business reputation of the Corporation or the Bank; 

  

	 	g.	the Executive’s breach of fiduciary duty involving personal gain; 

  

	 	h.	the Executive’s violation of any law, rule or regulation governing banks or bank officers or if any final cease and desist order is issued by a bank regulatory authority against Executive; 

 

	 	i.	the Executive’s theft or abuse of the Corporation or the Bank’s property or the property of customers, employees, contractors, vendors or business associates of the Corporation or the Bank; or

  

	 	j.	any final removal or prohibition order to which the Executive is subject, by a federal or state governmental agency. 

  

	 	4.2.	Termination for Good Reason Following a Change in Control. 

  

	 	a.	If a Change in Control occurs and, concurrently therewith or within two years thereafter, and in any case, during the term of this Agreement, an event constituting Good Reason also occurs with respect to the Executive,
Executive may terminate this Agreement for Good Reason if the Bank or the Corporation, after 30 days’ written notice from Executive specifying the events constituting Good Reason, fails to cure the events constituting Good Reason. “Good
Reason” shall mean: (i) the assignment to the Executive of duties materially inconsistent with the Executive’s position immediately prior to the Change in Control; (ii) a material reduction in salary or benefits, unless such
occurs by reason of a reduction or change in such benefits for employees generally of the Bank or of the corporation which is the acquiring, resulting or successor corporation in the Change in Control (or an affiliate thereof); (iii) a reassignment
which assigns full-time employment duties to Executive at a location that is more than fifty (50) miles from the location of Executive’s primary office location as of the date of the Change in Control without the Executive’s consent,
or (iv) any other material breach or default by Bank or Corporation under any term or provision of this Agreement. 

  

	 	b.	If the Corporation or the Bank fails to cure the events constituting Good Reason, the Executive may, within 90 days of the date Executive gave the Bank written notice thereof, resign from employment by a notice in
writing (“Notice of Termination”) delivered to the Bank, whereupon the Executive will become entitled to the payments described in Section 4.2(c). 

  
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	 	c.	Upon termination of Executive’s employment for Good Reason following a Change in Control in compliance with this Section 4.2, and provided Executive executes and does not revoke a general release of claims in
a form acceptable to the Bank and Corporation (the “General Release”), substantially in the form of “Exhibit A,” attached hereto, the Bank shall pay Executive an amount equal to two times the sum of (i) the Annual
Base Salary in effect as of the effective date of termination or, if higher, the Annual Base Salary as of the date of the Change in Control; (ii) the highest bonus paid to executive in one of the prior two fiscal years; and (iii) an amount
reasonably estimated to be equal to the value of the cost of Executive’s health, medical and dental insurance coverage; which amount, less applicable taxes and withholding, shall be payable in a lump sum payment. The Executive shall return the
executed release agreement to the Bank within 45 days (or such shorter period as may be specified in writing in the release agreement) after the Executive’s separation from service, as defined in Code Section 409A, failing which, any
benefit otherwise payable to the Executive under this Agreement shall be forfeited. Provided Executive does not revoke the release agreement (as provided in the release agreement), the amount of any benefit to which the Executive is entitled
hereunder will be paid to the Executive in a lump sum ninety (90) days following the date of the Executive’s termination of employment; provided, however, that if, as of the date of the Executive’s termination, the possibility would
otherwise exist that the payment date for the benefit could occur in either of two calendar years (the year of employment termination or in the following year), the payment will commence in the following calendar year. 

 

	 	4.3.	Death. This Agreement shall terminate automatically upon Executive’s death, and Executive’s rights under this Agreement shall cease as of the date of such termination, except that the Bank shall pay to
Executive’s spouse, personal representative, or estate the unpaid portion, if any, of Executive’s Annual Base Salary through date of death. 

  

	 	4.4.	Disability. If the Executive becomes Disabled, the Bank shall have the option to terminate this Agreement by giving thirty (30) days’ written notice of termination to the Executive; provided, however,
that Executive shall continue to be eligible for benefits under the Bank’s long term disability insurance plan (“LTD Benefit”), if any. During any period in which Executive is Disabled, Executive’s Annual Base Salary shall
be reduced, dollar for dollar, by the amount payable to Executive under any disability plan of the Bank. Upon termination of Executive’s employment for Disability, the Bank shall pay Executive the unpaid portion, if any, of Executive’s
Annual Base Salary through the effective date of termination, less any amounts payable to Executive under any disability plan of the Bank for that period, and Executive shall continue to be eligible for LTD benefits, if any. As used in this
Agreement, the term “Disability” means incapacitation, by accident, sickness or otherwise, such that the Executive is rendered unable to perform the essential duties required of the Executive by the Executive’s position with the Bank
at that time, notwithstanding reasonable accommodation, for a period of six (6) consecutive months. The Executive will also be deemed disabled if the Social Security Administration has determined that he/she is disabled or if a carrier of any
group disability insurance policy provided by the Bank or made available by the Bank to its employees and covering the Executive determines that he/she is disabled provided that the policy’s definition of disability is defined to comply with
the definition of disability under Code Section 409A. 

  
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	 	4.5.	Termination by Corporation or Bank Without Cause. If the Executive’s employment is terminated by the Corporation or the Bank for any reason other than for Cause or Disability, and provided Executive
executes, returns, and does not revoke a General Release in the same form, manner and timing as set forth in Section 4.2(c), then the Executive shall be entitled to the benefits set forth in Section 4.2(c) and such benefits shall be paid
at the same time and in the same manner as set forth in Section 4.2(c). Executive’s termination shall constitute a separation from service as defined in Code Section 409A. 

 

	 	4.6.	Change in Control Defined. As used in this Agreement, the term “Change in Control” means any of the following: 

 

	 	a.	any “person” (as such term is used in Sections 13(d) and 14(d)(2) of the Securities and Exchange Act of 1934 (the “Exchange Act”)) other than a subsidiary of Riverview or an employee benefit plan of
Riverview or a subsidiary of the Bank (including a related trust), becomes the beneficial owner (as determined pursuant to Rule 13d-3 under the Exchange Act, whether or not such rule then applies to
Riverview), directly or indirectly of securities of Riverview or the Bank representing more than 25% of the combined voting power of Riverview’s or the Bank’s then outstanding securities; 

 

	 	b.	the occurrence of, or execution of an agreement providing for, a sale of all or substantially all of the assets of Riverview or of the Bank to an entity which is not a direct or indirect subsidiary of either Riverview
or the Bank; 

  

	 	c.	the occurrence of, or execution of an agreement providing for, a reorganization, merger, consolidation or similar transaction involving Riverview or the Bank, unless (A) the shareholders of Riverview immediately
prior to the consummation of any such transaction will initially own securities representing at least a majority of the voting power of the surviving or resulting corporation, and (B) the directors of Riverview immediately prior to the
consummation of such transaction will initially represent at least fifty percent (50%) of the directors of the surviving or resulting corporation; 

  

	 	d.	during any period of two consecutive years, individuals who, at the beginning of such period, constituted the Board of Directors of Riverview cease to constitute the majority of such Board (unless the election of each
new director was expressly or by implication approved by a majority of the Board members who were still in office and who were directors at the beginning of such period); and 

 

	 	e.	any other event which is at any time irrevocably designated as a “Change in Control” for purposes of this Agreement by resolution adopted by a majority of the then
non-employee directors of Riverview. 

  
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	 	4.7.	Notice of Termination. Any termination of the Executive’s employment by the Bank or by the Executive shall be communicated by written notice of termination to the other party by means of United States
certified mail, return receipt requested, postage prepaid. For purposes of this Agreement, a “notice of termination” shall (i) indicate the specific termination provision in the Agreement relied upon; (ii) set forth in reasonable
detail the facts and circumstances claimed to provide a basis for termination of the Executive’s employment under the provision so indicated; and (iii) specify a date of termination.

 

	 	4.8.	No Mitigation Obligation. The Executive shall not be required to mitigate the amount of any payment provided under this Agreement by seeking employment or otherwise. The amount of payment or the benefit provided
under this agreement shall not be reduced by any compensation earned by the Executive as a result of employment by another employer or by reason of the Executive’s receipt of or right to receive any retirement or other benefit after the date of
termination of employment. 

  

	5.	CODE SECTION 409A 

  

	 	5.1.	If, when the Executive’s employment terminates, the Executive is a “specified employee,” as defined in Code Section 409A(a)(2)(B)(i), then despite any provision of this Agreement or other plan or
agreement to the contrary, the Executive will not be entitled to the payments until the earliest of (a) the date that is at least six months after the Executive’s separation from service, as defined in Code Section 409A, for reasons
other than the Executive’s death, (b) the date of the Executive’s death, or (c) any earlier date that does not result in additional tax or interest to the Executive under Code Section 409A. As promptly as possible after the
end of the period during which payments are delayed under this provision, the entire amount of the delayed payments shall be paid to the Executive in a single lump sum with any remaining payments to commence in accordance with the terms of this
Agreement or other applicable plan or agreement. 

  

	 	5.2.	Any payments made pursuant to this Agreement, to the extent of payments made from the date of termination through March 15th of the calendar year following such date, are intended to constitute separate payments for
purposes of Treas. Reg. §1.409A-2(b)(2) and this payable pursuant to the “short-term deferral” rule set forth in Treas. Reg. §1.409A-1(b)(4); to the
extent such payments are made following said March 15th, they are intended to constitute separate payments for purposes of Treas. Reg. §1.409A-2(b)(2) made upon an involuntary termination from service and
payable pursuant to Treas. Reg. §1.409A-1(b)(9)(iii), to the maximum extent permitted by said provision. 

  

	 	5.3.	The parties hereto intend that any and all post-employment compensation under this Agreement satisfy the requirements of Section 409A or an exception or exclusion therefrom to avoid the imposition of any
accelerated or additional taxes pursuant to Section 409A. Any terms not specifically defined shall have the meaning as set forth in Section 409A. 

  
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	 	5.4.	Notwithstanding the foregoing, no payment shall be made pursuant to Section 4 unless such termination of employment is a “separation from service” as defined in Code Section 409A. 

 

	6.	MISCELLANEOUS 

  

	 	6.1.	Amendment. This Agreement may not be modified, changed, amended, extended, or altered except in writing signed by each of the parties hereto. 

 

	 	6.2.	Notice. All notices given or required to be given shall be in writing, sent by United States certified mail, return receipt requested, postage prepaid, to the Executive (or to the Executive’s spouse or
estate upon the Executive’s death) at the Executive’s last known address, and to the Bank at its principal office. All such notices shall be effective when deposited in the mail in the manner specified in this Section. Either party by
written notice may change or designate the place for receipt of all such notices. 

  

	 	6.3.	Successors. This Agreement shall inure to the benefit of and be binding upon the Executive, and, to the extent applicable, Executive’s heirs, assigns, executors, and personal representatives, and the Bank
and the Corporation and their respective successors and assigns, including, without limitation, any person, partnership, or corporation which may acquire all or substantially all of the Bank’s or the Corporation’s assets and business, or
with or into which the Bank or the Corporation may be consolidated or merged. This provision shall apply in the event of any subsequent merger, consolidation, or transfer. 

 

	 	6.4.	Entire Agreement. This Agreement, and any Exhibits attached hereto, represents the entire agreement of the parties with respect to the subject matter hereof and supersedes all prior discussions, negotiations,
terms sheets, understandings and agreements, including but not limited to the Employment Agreement between Executive and Clearfield Bank and Trust Company entered into as of January 1, 2016. 

 

	 	6.5.	Applicable Law. This Agreement shall be governed in all respects and be interpreted by and under the laws of the Commonwealth of Pennsylvania, except to the extent that such law may be preempted by applicable
federal law, in which event this Agreement shall be governed and interpreted by and under federal law. 

  

	 	6.6.	Severability. If any provision in this Agreement is held by a court of competent jurisdiction to be invalid, void, or unenforceable, the remaining provisions nevertheless shall continue in full force and effect.

  

	 	6.7.	Attorneys’ Fees.    If any party to this Agreement brings an action to enforce its rights under this Agreement, the prevailing party shall be entitled to recover its costs and expenses,
including without limitation, reasonable attorneys’ fees, incurred in connection with such action. 

  

	 	6.8.	 Arbitration. Each party agrees that all disputes, disagreements and questions of interpretation concerning
this Agreement (except the question of the Executive’s Disability which is governed in Section 4, and except for disputes concerning the 

  
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validity, scope and enforcement of the restrictive covenants and non-disclosure provisions which are governed in Section 3), are to be submitted for
resolution, in the city where the Corporations’ primary office is located, to the American Arbitration Association (the “Association”) in accordance with the Association’s National Rules for the Resolution of
Employment Disputes or other applicable rules then in effect (“Rules”). The Bank or the Executive may initiate an arbitration proceeding at any time by giving notice to the other in accordance with the Rules. The Bank and the
Executive may, as a matter of right, mutually agree on the appointment of a particular arbitrator from the Association’s pool. The arbitrator shall not be bound by the rules of evidence and procedure of the courts of the Commonwealth of
Pennsylvania but shall be bound by the substantive law applicable to this Agreement. The decision of the arbitrator, absent fraud, duress, incompetence or gross and obvious error of fact, shall be final and binding upon the parties and shall be
enforceable in courts of proper jurisdiction. Following written notice of a request for arbitration, the Bank and the Executive shall be entitled to an injunction restraining all further proceedings in any pending or subsequently filed litigation
concerning this Agreement. 

 [Signature Page Follows] 

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

							
	Attest:	 		 	Riverview Financial Corporation
				
	  
	 		 	By:	 	      

			
		 		 	Riverview Bank
				
	  
	 		 	By:	 	      

			
		 		 	Executive:
				
	  
	 		 	By:ex_96181.htm

Exhibit 4.1

 

THIS WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR THE SECURITIES LAWS OF ANY STATE AND, EXCEPT AS SET FORTH IN SECTIONS 5.3 AND 5.4 BELOW, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND LAWS OR, IN THE OPINION OF LEGAL COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE COMPANY, SUCH OFFER, SALE, PLEDGE OR OTHER TRANSFER IS EXEMPT FROM SUCH REGISTRATION.

 

WARRANT TO PURCHASE STOCK

 

	
			Company:

				
			NUVECTRA CORPORATION, a Delaware corporation

			
	
			Number of Shares:

				
			22,844

			
	
			Type/Series of Stock:

				
			Common Stock (“Common Stock”)

			
	
			Warrant Price:

				
			$12.312

			
	
			Issue Date:

				
			September 28, 2017

			
	
			Expiration Date:

				
			September 28, 2027See also Section 5.1(b).

			
	
			Credit Facility:

				
			This Warrant to Purchase Stock (“Warrant”) is issued in connection with that certain Loan and Security Agreement of even date herewith among Oxford Finance LLC, as Lender and Collateral Agent, the Lenders from time to time party thereto, including Silicon Valley Bank, and the Company (as modified, amended and/or restated from time to time, the “Loan Agreement”).

			

 

THIS WARRANT CERTIFIES THAT, for good and valuable consideration, OXFORD FINANCE LLC (“Oxford” and, together with any successor or permitted assignee or transferee of this Warrant or of any shares issued upon exercise hereof, “Holder”) is entitled to purchase the number of fully paid and non-assessable shares (the “Shares”) of the Common Stock of the above-named company (the “Company”) at the above-stated Warrant Price, all as set forth above and as adjusted pursuant to Section 2 of this Warrant, subject to the provisions and upon the terms and conditions set forth in this Warrant.

 

SECTION 1.     EXERCISE.

 

1.1     Method of Exercise. Holder may at any time and from time to time exercise this Warrant, in whole or in part, by delivering to the Company the original of this Warrant together with a duly executed Notice of Exercise in substantially the form attached hereto as Appendix 1 and, unless Holder is exercising this Warrant pursuant to a cashless exercise set forth in Section 1.2, a check, wire transfer of same-day funds (to an account designated by the Company), or other form of payment acceptable to the Company for the aggregate Warrant Price for the Shares being purchased.

 

 

 

 

1.2     Cashless Exercise. On any exercise of this Warrant, in lieu of payment of the aggregate Warrant Price in the manner as specified in Section 1.1 above, but otherwise in accordance with the requirements of Section 1.1, Holder may elect to receive Shares equal to the value of this Warrant, or portion hereof as to which this Warrant is being exercised. Thereupon, the Company shall issue to the Holder such number of fully paid and non-assessable Shares as are computed using the following formula:

 

X = Y(A-B)/A

 

where:

 

	 	
			X =

				
			the number of Shares to be issued to the Holder;

			

 

	 	
			Y =

				
			the number of Shares with respect to which this Warrant is being exercised (inclusive of the Shares surrendered to the Company in payment of the aggregate Warrant Price);

			

 

	 	
			A =

				
			the Fair Market Value (as determined pursuant to Section 1.3 below) of one Share; and

			

 

	 	
			B =

				
			the Warrant Price.

			

 

1.3     Fair Market Value. If the Company’s Common Stock is then traded or quoted on a nationally recognized securities exchange, inter-dealer quotation system or over-the-counter market (a “Trading Market”), the Fair Market Value of a Share shall be the closing price or last sale price of a share of Common Stock reported for the trading day immediately before the date on which Holder delivers this Warrant together with its Notice of Exercise to the Company. If the Company’s Common Stock is not traded in a Trading Market, the Board of Directors of the Company shall determine the Fair Market Value of a Share in its reasonable good faith judgment.

 

1.4     Delivery of Certificate and New Warrant. Within a reasonable time after Holder exercises this Warrant in the manner set forth in Section 1.1 or 1.2 above, the Company shall deliver to Holder a certificate representing the Shares issued to Holder upon such exercise and, if this Warrant has not been fully exercised and has not expired, a new warrant of like tenor representing the Shares not so acquired.

 

1.5     Replacement of Warrant. On receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant and, in the case of loss, theft or destruction, on delivery of an indemnity agreement reasonably satisfactory in form, substance and amount to the Company or, in the case of mutilation, on surrender of this Warrant to the Company for cancellation, the Company shall, within a reasonable time, execute and deliver to Holder, in lieu of this Warrant, a new warrant of like tenor and amount.

 

1.6     Treatment of Warrant Upon Acquisition of Company.

 

(a)     Acquisition. For the purpose of this Warrant, “Acquisition” means any transaction or series of related transactions involving: (i) the sale, lease, exclusive license, or other disposition of all or substantially all of the assets of the Company (ii) any merger or consolidation of the Company into or with another person or entity (other than a merger or consolidation effected exclusively to change the Company’s domicile), or any other corporate reorganization, in each case, in which the stockholders of the Company in their capacity as such immediately prior to such merger, consolidation or reorganization, own less than a majority of the Company’s (or the surviving or successor entity’s) outstanding voting power immediately after such merger, consolidation or reorganization (or, if such Company stockholders beneficially own a majority of the outstanding voting power of the surviving or successor entity as of immediately after such merger, consolidation or reorganization, such surviving or successor entity is not the Company); or (iii) any sale or other transfer by the stockholders of the Company of shares representing at least a majority of the Company’s then-total outstanding combined voting power to a person or entity or to a group of persons or entities acting together.

 

2

 

 

(b)     Treatment of Warrant at Acquisition. In the event of an Acquisition in which the consideration to be received by the Company’s stockholders consists solely of cash, solely of Marketable Securities or a combination of cash and Marketable Securities (a “Cash/Public Acquisition”), either (i) Holder shall exercise this Warrant pursuant to Section 1.1 and/or 1.2 and such exercise will be deemed effective immediately prior to and contingent upon the consummation of such Acquisition or (ii) if Holder elects not to exercise the Warrant, this Warrant will expire immediately prior to the consummation of such Acquisition.

 

(c)     The Company shall provide Holder with written notice of its request relating to the Cash/Public Acquisition (together with such reasonable information as Holder may reasonably require regarding the treatment of this Warrant in connection with such contemplated Cash/Public Acquisition giving rise to such notice), which is to be delivered to Holder not less than seven (7) Business Days prior to the closing of the proposed Cash/Public Acquisition. In the event the Company does not provide such notice, then if, immediately prior to the Cash/Public Acquisition, the fair market value of one Share (or other security issuable upon the exercise hereof) as determined in accordance with Section 1.3 above would be greater than the Warrant Price in effect on such date, then this Warrant shall automatically be deemed on and as of such date to be exercised pursuant to Section 1.2 above as to all Shares (or such other securities) for which it shall not previously have been exercised, and the Company shall promptly notify the Holder of the number of Shares (or such other securities) issued upon such exercise to the Holder and Holder shall be deemed to have restated each of the representations and warranties in Section 4 of the Warrant as the date thereof.

 

(d)     Upon the closing of any Acquisition other than a Cash/Public Acquisition defined above, the acquiring, surviving or successor entity shall assume the obligations of this Warrant, and this Warrant shall thereafter be exercisable for the same securities and/or other property as would have been paid for the Shares issuable upon exercise of the unexercised portion of this Warrant as if such Shares were outstanding on and as of the closing of such Acquisition, subject to further adjustment from time to time in accordance with the provisions of this Warrant.

 

(e)     As used in this Warrant, “Marketable Securities” means securities meeting all of the following requirements: (i) the issuer thereof is then subject to the reporting requirements of Section 13 or Section 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and is then current in its filing of all required reports and other information under the Act and the Exchange Act; (ii) the class and series of shares or other security of the issuer that would be received by Holder in connection with the Acquisition if Holder were to exercise this Warrant on or prior to the closing thereof is then traded in any Trading Market, and (iii) following the closing of such Acquisition, Holder would not be restricted from publicly re-selling all of the issuer’s shares and/or other securities that would be received by Holder in such Acquisition were Holder to exercise this Warrant in full on or prior to the closing of such Acquisition, except to the extent that any such restriction (x) arises solely under federal or state securities laws, rules or regulations, and (y) does not extend beyond six (6) months from the closing of such Acquisition.

 

3

 

 

SECTION 2.     ADJUSTMENTS TO THE SHARES AND WARRANT PRICE.

 

2.1     Stock Dividends, Splits, Etc. If the Company declares or pays a dividend or distribution on the outstanding shares of the Common Stock payable in securities or property (other than cash), then upon exercise of this Warrant, for each Share acquired, Holder shall receive, without additional cost to Holder, the total number and kind of securities and property which Holder would have received had Holder owned the Shares of record as of the date the dividend or distribution occurred. If the Company subdivides the outstanding shares of the Common Stock by reclassification or otherwise into a greater number of shares, the number of Shares purchasable hereunder shall be proportionately increased and the Warrant Price shall be proportionately decreased. If the outstanding shares of the Common Stock are combined or consolidated, by reclassification or otherwise, into a lesser number of shares, the Warrant Price shall be proportionately increased and the number of Shares shall be proportionately decreased.

 

2.2     Reclassification, Exchange, Combinations or Substitution. Upon any event whereby all of the outstanding shares of the Common Stock are reclassified, exchanged, combined, substituted, or replaced for, into, with or by Company securities of a different class and/or series, then from and after the consummation of such event, this Warrant will be exercisable for the number, class and series of Company securities that Holder would have received had the Shares been outstanding on and as of the consummation of such event, and subject to further adjustment thereafter from time to time in accordance with the provisions of this Warrant. The provisions of this Section 2.2 shall similarly apply to successive reclassifications, exchanges, combinations substitutions, replacements or other similar events.

 

2.3     Intentionally Omitted.

 

2.4     Intentionally Omitted.

 

2.5     No Fractional Share. No fractional Share shall be issuable upon exercise of this Warrant and the number of Shares to be issued shall be rounded down to the nearest whole Share. If a fractional Share interest arises upon any exercise of the Warrant, the Company shall eliminate such fractional Share interest by paying Holder in cash the amount computed by multiplying the fractional interest by (i) the fair market value (as determined in accordance with Section 1.3 above) of a full Share, less (ii) the then-effective Warrant Price.

 

2.6     Notice/Certificate as to Adjustments. Upon each adjustment of the Warrant Price, class and/or number of Shares, the Company, at the Company’s expense, shall notify Holder in writing within a reasonable time setting forth the adjustments to the Warrant Price, class and/or number of Shares and facts upon which such adjustment is based. The Company shall, upon written request from Holder, furnish Holder with a certificate of its Chief Financial Officer, including computations of such adjustment and the Warrant Price, class and number of Shares in effect upon the date of such adjustment.

 

4

 

 

SECTION 3.     REPRESENTATIONS AND COVENANTS OF THE COMPANY.

 

3.1     Representations and Warranties. The Company represents and warrants to, and agrees with, the Holder as follows:

 

(a)     The initial Warrant Price referenced on the first page of this Warrant is not greater than the lesser of (i) the average of the closing price of a share of Common Stock reported on the Trading Market for the 10 consecutive trading days (or such lesser number of consecutive trading days that the Company’s Common Stock has been traded on a Trading Market) ending immediately prior to the funding date of the Term A Loans (as defined in the Loan Agreement and used herein, the “Term A Loans”) and (ii) the closing price of a share of Common Stock reported on the Trading Market for the trading day ending immediately prior to the funding date of the Term A Loans.

 

(b)     All Shares which may be issued upon the exercise of this Warrant shall, upon issuance, be duly authorized, validly issued, fully paid and non-assessable, and free of any liens and encumbrances except for restrictions on transfer provided for herein or under applicable federal and state securities laws. The Company covenants that it shall at all times cause to be reserved and kept available out of its authorized and unissued capital stock such number of securities as will be sufficient to permit the exercise in full of this Warrant.

 

3.2     Notice of Certain Events. If the Company proposes at any time to:

 

(a)     declare any dividend or distribution upon the outstanding shares of the Company’s stock, whether in cash, property, stock, or other securities and whether or not a regular cash dividend;

 

(b)     offer for subscription or sale pro rata to the holders of the outstanding shares of the Company’s stock any additional shares of any class or series of the Company’s stock (other than pursuant to contractual pre-emptive rights);

 

(c)     effect any reclassification, exchange, combination, substitution, reorganization or recapitalization of the outstanding shares of the Common Stock; or

 

(d)     effect an Acquisition or to liquidate, dissolve or wind up;

 

then, in connection with each such event, the Company shall give Holder:

 

(1)     at least seven (7) Business Days prior written notice of the date on which a record will be taken for such dividend, distribution, or subscription rights (and specifying the date on which the holders of outstanding shares of the Common Stock will be entitled thereto) or for determining rights to vote, if any, in respect of the matters referred to in (a) and (b) above; and

 

5

 

 

(2)     in the case of the matters referred to in (c) and (d) above at least seven (7) Business Days prior written notice of the date when the same will take place (and specifying the date on which the holders of outstanding shares of the class will be entitled to exchange their shares for the securities or other property deliverable upon the occurrence of such event).

 

Reference is made to Section 1.6(c) whereby this Warrant will be deemed to be exercised pursuant to Section 1.2 hereof if the Company does not give written notice to Holder of a Cash/Public Acquisition as required by the terms hereof. Company will also provide information requested by Holder that is reasonably necessary to enable Holder to comply with Holder’s accounting or reporting requirements.

 

SECTION 4.     REPRESENTATIONS, WARRANTIES OF THE HOLDER.

 

The Holder represents and warrants to the Company as follows:

 

4.1     Purchase for Own Account. This Warrant and the securities to be acquired upon exercise of this Warrant by Holder are being acquired for investment for Holder’s account, not as a nominee or agent, and not with a view to the public resale or distribution within the meaning of the Act. Holder also represents that it has not been formed for the specific purpose of acquiring this Warrant or the Shares.

 

4.2     Disclosure of Information. Holder is aware of the Company’s business affairs and financial condition and has received or has had full access to all the information it considers necessary or appropriate to make an informed investment decision with respect to the acquisition of this Warrant and its underlying securities. Holder further has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the offering of this Warrant and its underlying securities and to obtain additional information (to the extent the Company possessed such information or could acquire it without unreasonable effort or expense) necessary to verify any information furnished to Holder or to which Holder has access.

 

4.3     Investment Experience. Holder understands that the purchase of this Warrant and its underlying securities involves substantial risk. Holder has experience as an investor in securities of companies in the development stage and acknowledges that Holder can bear the economic risk of such Holder’s investment in this Warrant and its underlying securities and has such knowledge and experience in financial or business matters that Holder is capable of evaluating the merits and risks of its investment in this Warrant and its underlying securities and/or has a preexisting personal or business relationship with the Company and certain of its officers, directors or controlling persons of a nature and duration that enables Holder to be aware of the character, business acumen and financial circumstances of such persons.

 

4.4     Accredited Investor Status. Holder is an “accredited investor” within the meaning of Regulation D promulgated under the Act.

 

4.5     The Act. Holder understands that this Warrant and the Shares issuable upon exercise hereof have not been registered under the Act in reliance upon a specific exemption therefrom, which exemption depends upon, among other things, the bona fide nature of the Holder’s investment intent as expressed herein. Holder understands that this Warrant and the Shares issued upon any exercise hereof must be held indefinitely unless subsequently registered under the Act and qualified under applicable state securities laws, or unless exemption from such registration and qualification are otherwise available. Holder is aware of the provisions of Rule 144 promulgated under the Act.

 

6

 

 

4.6     No Voting Rights. Except as set forth herein, Holder, as a Holder of this Warrant, will not have any voting or other rights of a stockholder of the Company until the exercise of this Warrant.

 

SECTION 5.     MISCELLANEOUS.

 

5.1     Term; Automatic Cashless Exercise Upon Expiration.

 

(a)     Term. Subject to the provisions of Section 1.6 above, this Warrant is exercisable in whole or in part at any time and from time to time on or before 6:00 PM, Eastern time, on the Expiration Date and shall be void thereafter.

 

(b)     Automatic Cashless Exercise upon Expiration. In the event that, upon the Expiration Date, the fair market value of one Share (or other security issuable upon the exercise hereof) as determined in accordance with Section 1.3 above is greater than the Warrant Price in effect on such date, then this Warrant shall automatically be deemed on and as of such date to be exercised pursuant to Section 1.2 above as to all Shares (or such other securities) for which it shall not previously have been exercised, and the Company shall, within a reasonable time, deliver a certificate representing the Shares (or such other securities) issued upon such exercise to Holder.

 

5.2     Legends. Each certificate evidencing Shares (and each certificate evidencing the securities issued upon conversion of any Shares, if any) shall be imprinted with a legend in substantially the following form:

 

THE SHARES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR THE SECURITIES LAWS OF ANY STATE AND, EXCEPT AS SET FORTH IN THAT CERTAIN WARRANT TO PURCHASE STOCK ISSUED BY THE ISSUER TO OXFORD FINANCE LLC DATED SEPTEMBER 28, 2017, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND LAWS OR, IN THE OPINION OF LEGAL COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER, SUCH OFFER, SALE, PLEDGE OR OTHER TRANSFER IS EXEMPT FROM SUCH REGISTRATION.

 

7

 

 

5.3     Compliance with Securities Laws on Transfer. This Warrant and the Shares issued upon exercise of this Warrant (and the securities issuable, directly or indirectly, upon conversion of the Shares, if any) may not be transferred or assigned in whole or in part except in compliance with applicable federal and state securities laws by the transferor and the transferee (including, without limitation, the delivery of investment representation letters and legal opinions reasonably satisfactory to the Company, as reasonably requested by the Company). The Company shall not require Holder to provide an opinion of counsel if the transfer is to an affiliate of Holder, provided that any such transferee is an “accredited investor” as defined in Regulation D promulgated under the Act. Additionally, the Company shall also not require an opinion of counsel if there is no material question as to the availability of Rule 144 promulgated under the Act.

 

5.4     Transfer Procedure. After receipt by Oxford of the executed Warrant, Oxford may transfer all or part of this Warrant to one or more of Oxford’s affiliates (each, an “Oxford Affiliate”), by execution of an Assignment substantially in the form of Appendix 2. Subject to the provisions of Article 5.3 and upon providing the Company with written notice, Oxford, any such Oxford Affiliate and any subsequent Holder, may transfer all or part of this Warrant or the Shares issuable upon exercise of this Warrant (or the securities issuable directly or indirectly, upon conversion of the Shares, if any) to any other transferee, provided, however, in connection with any such transfer, the Oxford Affiliate(s) or any subsequent Holder will give the Company notice of the portion of the Warrant being transferred with the name, address and taxpayer identification number of the transferee and Holder will surrender this Warrant to the Company for reissuance to the transferee(s) (and Holder if applicable).

 

5.5     Notices. All notices and other communications hereunder from the Company to the Holder, or vice versa, shall be deemed delivered and effective (i) when given personally, (ii) on the third (3rd) Business Day after being mailed by first-class registered or certified mail, postage prepaid, (iii) upon actual receipt if given by facsimile or electronic mail and such receipt is confirmed in writing by the recipient, or (iv) on the first Business Day following delivery to a reliable overnight courier service, courier fee prepaid, in any case at such address as may have been furnished to the Company or Holder, as the case may be, in writing by the Company or such Holder from time to time in accordance with the provisions of this Section 5.5. All notices to Holder shall be addressed as follows until the Company receives notice of a change of address in connection with a transfer or otherwise:

 

Oxford Finance

LLC 133 N. Fairfax Street

Alexandria, VA 22314

Attn: Legal Department

Telephone: (703) 519-4900

Facsimile: (703) 519-5225

Email: LegalDepartment@oxfordfinance.com

 

8

 

 

Notice to the Company shall be addressed as follows until Holder receives notice of a change in address:

 

Nuvectra Corporation

5830 Granite Parkway, Suite 1100

Plano, TX 75024

Attn: Melissa G. Beare

Telephone: (973) 668-4107

Facsimile: (469) 362-8441

Email: mbeare@nuvectramed.com

 

5.6     Waiver. This Warrant and any term hereof may be changed, waived, discharged or terminated (either generally or in a particular instance and either retroactively or prospectively) only by an instrument in writing signed by the party against which enforcement of such change, waiver, discharge or termination is sought.

 

5.7     Attorneys’ Fees. In the event of any dispute between the parties concerning the terms and provisions of this Warrant, the party prevailing in such dispute shall be entitled to collect from the other party all costs incurred in such dispute, including reasonable attorneys’ fees.

 

5.8     Counterparts; Facsimile/Electronic Signatures. This Warrant may be executed in counterparts, all of which together shall constitute one and the same agreement. Any signature page delivered electronically or by facsimile shall be binding to the same extent as an original signature page with regards to any agreement subject to the terms hereof or any amendment thereto.

 

5.9     Governing Law. This Warrant shall be governed by and construed in accordance with the laws of the State of California, without giving effect to its principles regarding conflicts of law.

 

5.10     Headings. The headings in this Warrant are for purposes of reference only and shall not limit or otherwise affect the meaning of any provision of this Warrant.

 

5.11     Business Days. “Business Day” is any day that is not a Saturday, Sunday or a day on which Silicon Valley Bank is closed.

 

[Remainder of page left blank intentionally]

 

[Signature page follows]

 

9

 

 

IN WITNESS WHEREOF, the parties have caused this Warrant to Purchase Stock to be executed by their duly authorized representatives effective as of the Issue Date written above.

 

“COMPANY”

 

NUVECTRA CORPORATION

 

 

	By:	 	 
	 	 	 
	Name:	 	 
	 	(Print)	 
	 	 	 
	Title:	 	 

 

 

“HOLDER”

 

OXFORD FINANCE LLC

 

 

	By:	 	 
	 	 	 
	Name:	 	 
	 	(Print)	 
	 	 	 
	Title:	 	 

 

 

[Signature Page to Warrant to Purchase Stock]

 

 

APPENDIX 1

 

NOTICE OF EXERCISE

 

1.     The undersigned Holder hereby exercises its right to purchase _______ shares of the Common Stock of NUVECTRA CORPORATION (the “Company”) in accordance with the attached Warrant To Purchase Stock, and tenders payment of the aggregate Warrant Price for such shares as follows:

 

	
			[  ]

				
			Check in the amount of $_______ payable to the order of the Company enclosed herewith

			
	 	 
	
			[  ]

				
			Wire transfer of immediately available funds to the Company’s account

			
	 	 
	
			[  ]

				
			Cashless Exercise pursuant to Section 1.2 of the Warrant

			
	 	 
	
			[  ]

				
			Other [Describe]

			

 

2.     Please issue a certificate or certificates representing the Shares in the name specified below:

 

 

	
			Holder’s Name

			
	 
	 
	 
	(Address)

 

3.     By its execution below and for the benefit of the Company, Holder hereby restates each of the representations and warranties in Section 4 of the Warrant to Purchase Stock as of the date hereof.

 

	 	
			HOLDER:

			 

			 

			

 

	 	By:	 
	 	 	 
	 	Name:	 
	 	 	 
	 	Title:	 
	 	 	 
	 	Date:	 

 

Appendix 1

 

 

APPENDIX 2

 

ASSIGNMENT

 

For value received, Oxford Finance LLC hereby sells, assigns and transfers unto

 

	
			Name:                         [OXFORD TRANSFEREE]

			 

			Address:______________________________

			 

			Tax ID:________________________________

			

 

that certain Warrant to Purchase Stock issued by NUVECTRA CORPORATION (the “Company”), on September 28, 2017 (the “Warrant”) together with all rights, title and interest therein.

 

	 	
			OXFORD FINANCE LLC

			 

			 

			
	 	By:	 
	 	 	 
	 	Name:	 
	
			 

				 	 
	 	Title:	 

 

Date:_______________________________________

 

By its execution below, and for the benefit of the Company, [OXFORD TRANSFEREE] makes each of the representations and warranties set forth in Article 4 of the Warrant and agrees to all other provisions of the Warrant as of the date hereof.

 

	 	
			[OXFORD TRANSFEREE]

			 

			
	 	By:	 
	 	 	 
	 	Name:	 
	 	 	 
	 	Title:	 

 

 

Appendix 2

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