Document:

Exhibit 10.32

 

 

Execution Version

 

February 18, 2022

 

STRICTLY CONFIDENTIAL

 

Agile Therapeutics, Inc.

500 College Road East, Suite 310

Princeton, New Jersey 08540

 

Attn: Alfred Altomari, President and Chief Executive Officer

 

Dear Mr. Altomari:

 

This letter agreement
(this “Agreement”) constitutes the agreement between Agile Therapeutics, Inc. (the
 “Company”) and H.C. Wainwright & Co., LLC (“Wainwright”), that Wainwright shall serve
as the exclusive underwriter, agent or advisor in any offering (each, an “Offering”) of securities of the Company
(the “Securities”) during the Term (as hereinafter defined) of this Agreement, and excluding any Strategic
Transactions (as such term is defined below). The terms of each Offering and the Securities issued in connection therewith shall be
mutually agreed upon by the Company and Wainwright and nothing herein implies that Wainwright would have the power or authority to
bind the Company and nothing herein implies that the Company shall have an obligation to issue any Securities. It is understood that
Wainwright’s assistance in an Offering will be subject to the satisfactory completion of such investigation and inquiry into
the affairs of the Company as Wainwright deems appropriate under the circumstances and to the receipt of all internal approvals of
Wainwright in connection with an Offering. The Company expressly acknowledges and agrees that, unless otherwise expressly agreed to
in writing by Wainwright and the Company, Wainwright’s involvement in an Offering is strictly on a reasonable best-efforts
basis and that the consummation of an Offering will be subject to, among other things, market conditions. Notwithstanding the
foregoing, to the extent Wainwright conducts an underwritten Offering, Wainwright’s commitment will be on a firm commitment
basis. The execution of this Agreement does not constitute a commitment by Wainwright to purchase the Securities and does not ensure
a successful Offering of the Securities or the success of Wainwright with respect to securing any other financing on behalf of the
Company. Wainwright may retain other underwriters, brokers, dealers or agents on its behalf in connection with an Offering. For the
purpose of this Agreement, a “Strategic Transaction” means partnership, collaboration, merger or acquisition or other
strategic transactions, which is not with a potential investor introduced by Wainwright to the Company, approved by the board of
directors of the Company, provided that any such transaction shall only be with an operating company or an owner of an asset in a
business synergistic with the business of the Company, but shall not include a transaction in which the Company is issuing
securities primarily for the purpose of raising capital or to an entity whose primary business is investing in securities.

 

430 Park Avenue | New York,
New York 10022 | 212.356.0500 | www.hcwco.com

Member: FINRA/SIPC

 

     

     

    

 

A.           Compensation; Reimbursement.
At the closing of each Offering (each, a “Closing”), the Company shall compensate Wainwright as follows:

 

		1.	Cash Fee. The Company shall pay to Wainwright a cash fee, or as to an underwritten Offering an
underwriter discount, equal to 7.0% of the aggregate gross proceeds raised in each Offering.

 

		2.	Warrant Coverage. The Company shall issue to Wainwright or its designees at each Closing, warrants (the
 “Wainwright Warrants”) to purchase that number of shares of common stock of the Company equal to 5.0% of the
aggregate number of shares of common stock (or common stock equivalent, if applicable) placed in each Offering (and if an Offering
includes a “greenshoe” or “additional investment” component, such number of shares of common stock
underlying such “greenshoe” or “additional investment” component, with the Wainwright Warrants issuable upon
the exercise of such component). If the Securities included in an Offering are convertible, the Wainwright Warrants shall be
determined by dividing the gross proceeds raised in such Offering by the Offering Price (as defined hereunder). The Wainwright
Warrants shall be in a customary form reasonably acceptable to Wainwright, have a term of four (4) years and an exercise price
equal to 125% of the offering price per share (or unit, if applicable) in the applicable Offering and if such offering price is not
available, the market price of the common stock on the date an Offering is commenced (such price, the “Offering
Price”). If warrants are issued to investors in an Offering, the Wainwright Warrants shall have the same terms as the
warrants issued to investors in the applicable Offering, except that such Wainwright Warrants shall have an exercise price equal to
125% of the Offering Price.

 

		3.	Expense Allowance. Out of the proceeds of each Closing, the Company also agrees to pay Wainwright
(a) a management fee equal to 1.0% of the gross proceeds raised in each Offering; (b) $35,000 for non-accountable expenses (to
be increased to $50,000 in case a public Offering is contemplated or consummated); (c) up to $50,000 for fees and expenses of legal
counsel and other out-of-pocket expenses (to be increased to $100,000 in case a public Offering is contemplated or consummated); plus
the additional amount payable by the Company pursuant to Paragraph D.3 hereunder and, if applicable, the costs associated with the use
of a third-party electronic road show service (such as NetRoadshow); provided, however, that such amount in no way limits or impairs the
indemnification and contribution provisions of this Agreement.

 

		4.	Tail. Wainwright shall be entitled to compensation under clauses (1) and (2) hereunder,
calculated in the manner set forth therein, with respect to any public or private offering or other financing or capital-raising transaction
of any kind, except for any Strategic Transaction (“Tail Financing”) to the extent that such Tail Financing is provided
to the Company directly or indirectly by investors whom Wainwright had contacted during the Term or introduced to the Company during the
Term, if such Tail Financing is consummated at any time within the 12-month period following the expiration or termination of this Agreement;
Within ten (10) business days following each Offering and ten (10) business days following the end of the Term, Wainwright will
provide to the Company a list of investors who are subject to this tail provision.

 

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		5.	Right of First Refusal. If, from the date hereof until the 6-month anniversary following consummation
of each Offering, the Company decides to raise funds by means of a public offering (including any new at-the-market facility) or a private
placement or any other capital-raising financing of equity, equity-linked
or debt securities using an underwriter or placement agent, except for any Strategic Transaction, Wainwright (or any affiliate designated
by Wainwright) shall have the right to act as sole book-running manager, sole underwriter or sole placement agent for such financing.
If Wainwright or one of its affiliates decides to accept any such engagement, the agreement governing such engagement will contain, among
other things, provisions for customary fees for transactions of similar size and nature and the provisions of this Agreement, including
indemnification, which are appropriate to such a transaction.

 

B.            Term
and Termination of Engagement; Exclusivity. The term of Wainwright’s exclusive engagement will begin on the date hereof
and end ninety (90) days thereafter (the “Initial Term”); provided, however, that if an Offering is consummated
within the Initial Term, the term of this Agreement shall be extended by an additional ninety (90) day period (the
 “Extension Term,” and together with the Initial Term, the “Term”). For clarity, the term
 “Term” shall mean the Initial Term if there is no Extension Term. Notwithstanding anything to the contrary contained
herein, the Company agrees that the provisions relating to the payment of fees, reimbursement of expenses, right of first refusal,
tail, indemnification and contribution, confidentiality, conflicts, independent contractor and waiver of the right to trial by jury
will survive any termination or expiration of this Agreement; provided, however, that the right of first refusal and the tail
provisions shall terminate upon the consummation by the Company of a Strategic Transaction following which the Company is not the
surviving entity. Notwithstanding anything to the contrary contained herein, the Company has the right to terminate the Agreement
for cause in compliance with FINRA Rule 5110(g)(5)(B)(i). The exercise of such right of termination for cause eliminates the
Company’s obligations with respect to the provisions relating to the tail fees and right of first refusal. Notwithstanding
anything to the contrary contained in this Agreement, in the event that an Offering pursuant to this Agreement shall not be carried
out for any reason whatsoever during the Term, the Company shall be obligated to pay to Wainwright its actual and accountable
out-of-pocket expenses related to an Offering (including the fees and disbursements of Wainwright’s legal counsel) and, if
applicable, for electronic road show service used in connection with an Offering. During Wainwright’s engagement hereunder,
except for Strategic Transactions, (i) the Company will not, and will not permit its representatives to, other than in
coordination with Wainwright, contact or solicit institutions, corporations or other entities or individuals as potential purchasers
of the Securities and (ii) the Company will not pursue any financing transaction which would be in lieu of an Offering during
the Term. Furthermore, the Company agrees that during Wainwright’s engagement hereunder, except for Strategic Transactions,
all inquiries from prospective investors will be referred to Wainwright. Additionally, except as set forth hereunder, the Company
represents, warrants and covenants that no brokerage or finder’s fees or commissions are or will be payable by the Company or
any subsidiary of the Company to any broker, financial advisor or consultant, finder, placement agent, investment banker, bank or
other third-party with respect to any Offering.

 

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C.            Information;
Reliance. The Company shall furnish, or cause to be furnished, to Wainwright all information requested by Wainwright for the
purpose of rendering services hereunder and conducting due diligence (all such information being the
 “Information”). In addition, the Company agrees to make available to Wainwright upon request from time to time
the officers, directors, accountants, counsel and other advisors of the Company. The Company recognizes and confirms that
Wainwright (a) will use and rely on the Information, including any documents provided to investors in each Offering (the
 “Offering Documents”) which shall include any Purchase Agreement (as defined hereunder), and on information
available from generally recognized public sources in performing the services contemplated by this Agreement without having
independently verified the same; (b) does not assume responsibility for the accuracy or completeness of the Offering Documents
or the Information and such other information; and (c) will not make an appraisal of any of the assets or liabilities of the
Company. Upon reasonable request, the Company will meet with Wainwright or its representatives to discuss all information relevant
for disclosure in the Offering Documents and will cooperate in any investigation undertaken by Wainwright thereof, including any
document included or incorporated by reference therein. At each Offering, at the request of Wainwright, the Company shall deliver
such legal letters (including, without limitation, negative assurance letters), opinions, comfort letters, officers’ and
secretary certificates and good standing certificates, all in form and substance satisfactory to Wainwright and its counsel as is
customary for such Offering. Wainwright shall be a third-party beneficiary of any representations, warranties, covenants, closing
conditions and closing deliverables made by the Company in any Offering Documents, including representations, warranties, covenants,
closing conditions and closing deliverables made to any investor in an Offering.

 

D.            Related Agreements.
At each Offering, the Company shall enter into the following additional agreements, as applicable:

 

		1.	Underwritten Offering. If an Offering
is an underwritten Offering, the Company and Wainwright shall enter into a customary underwriting agreement in form and substance satisfactory
to Wainwright and its counsel.

 

		2.	Best Efforts Offering. If an Offering is on a best-efforts basis, the sale of Securities to the
investors in the Offering will be evidenced by a purchase agreement (“Purchase Agreement”) between the Company and
such investors in a form reasonably satisfactory to the Company and Wainwright. Wainwright shall be a third-party beneficiary with respect
to the representations, warranties, covenants, closing conditions and closing deliverables included in the Purchase Agreement. Prior to
the signing of any Purchase Agreement, officers of the Company with responsibility for financial affairs will be available to answer inquiries
from prospective investors.

 

		3.	Escrow, Settlement and Closing. If each Offering is not settled via delivery versus payment (“DVP”),
the Company and Wainwright shall enter into an escrow agreement with a third-party escrow agent pursuant to which Wainwright’s compensation
and expenses shall be paid from the gross proceeds of the Securities sold. If the Offering is settled in whole or in part via DVP, Wainwright
shall arrange for its clearing agent to provide the funds to facilitate such settlement; provided, however, if the clearing firm provides
the funds in a best efforts offering and subsequent to such delivery an investor fails to provide the necessary funds to the clearing
agent for such purchase of Securities, Wainwright shall instruct the clearing agent to promptly return any such Securities to the Company
and the Company shall promptly return such investor’s purchase price to the
clearing agent. The Company shall pay Wainwright closing costs, which shall also include the reimbursement of the out-of-pocket cost of
the escrow agent or clearing agent, as applicable, which closing costs shall not exceed $15,950.

 

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		4.	FINRA Amendments. Notwithstanding anything herein to the contrary, in the event that Wainwright
determines that any of the terms provided for hereunder shall not comply with a FINRA rule, including but not limited to FINRA Rule 5110,
then the Company shall agree to amend this Agreement (or include such revisions in the final underwriting agreement) in writing upon the
request of Wainwright to comply with any such rules; provided that any such amendments shall not provide for terms that are less favorable
to the Company than are reflected in this Agreement.

 

E.            Confidentiality.
In the event of the consummation or public announcement of any Offering, Wainwright shall have the right to disclose its participation
in such Offering, including, without limitation, the Offering at its cost of “tombstone” advertisements in financial and other
newspapers and journals.

 

		F.	Indemnity.

 

		1.	In connection with the Company’s engagement of Wainwright hereunder, the Company hereby agrees to indemnify
and hold harmless Wainwright and its affiliates, and the respective controlling persons, directors, officers, members, shareholders,
agents and employees of any of the foregoing (collectively the “Indemnified Persons”), from and against any and
all claims, actions, suits, proceedings (including those of shareholders), damages, liabilities and expenses incurred by any of them
(including the reasonable fees and expenses of counsel), as incurred, whether or not the Company is a party thereto (collectively a
 “Claim”), that are (A) related to or arise out of (i) any actions taken or omitted to be taken
(including any untrue statements made or any statements omitted to be made) by the Company, but excluding any untrue statements or
omission made in reliance upon and in conformity with written information furnished to the Company by Wainwright expressly for use
in the Company’s registration statement, any related prospectus and prospectus supplement, as applicable, or (ii) any
actions taken or omitted to be taken by any Indemnified Person in connection with the Company’s engagement of Wainwright, or
(B) otherwise relate to or arise out of Wainwright’s activities on the Company’s behalf under Wainwright’s
engagement, and the Company shall reimburse any Indemnified Person for all expenses (including the reasonable fees and expenses of
counsel) as incurred by such Indemnified Person in connection with investigating, preparing or defending any such claim, action,
suit or proceeding, whether or not in connection with pending or threatened litigation in which any Indemnified Person is a party.
The Company will not, however, be responsible for any Claim that is finally judicially determined to have resulted from the gross
negligence or willful misconduct of any such Indemnified Person for such Claim. The Company further agrees that no Indemnified
Person shall have any liability to the Company for or in connection with the Company’s engagement of Wainwright except for any
Claim incurred by the Company as a result of such Indemnified Person’s gross negligence or willful misconduct.

 

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		2.	The Company further agrees that it will not, without the prior written consent of Wainwright, settle,
compromise or consent to the entry of any judgment in any pending or threatened Claim in respect of which indemnification may be sought
hereunder (whether or not any Indemnified Person is an actual or potential party to such Claim), unless such settlement, compromise or
consent includes an unconditional, irrevocable release of each Indemnified Person from any and all liability arising out of such Claim.

 

		3.	Promptly upon receipt by an Indemnified Person of notice of any complaint or the assertion or
                                                               institution of any Claim with respect to which indemnification is being sought hereunder, such Indemnified Person shall notify the
                                                               Company in writing of such complaint or of such assertion or institution but failure to so notify the Company shall not relieve the
                                                               Company from any obligation it may have hereunder, except and only to the extent such failure results in the forfeiture by the
                                                               Company of substantial rights and defenses. If the Company is requested by such Indemnified Person, the Company will assume the
                                                               defense of such Claim, including the employment of counsel for such Indemnified Person and the payment of the fees and expenses of
                                                               such counsel, provided, however, that such counsel shall be reasonably satisfactory to the Indemnified Person and provided further
                                                               that if the legal counsel to such Indemnified Person reasonably determines that the use of counsel chosen by the Company to
                                                               represent such Indemnified Person would present such counsel with a conflict of interest or if the defendant in, or target of, any
                                                               such Claim, includes an Indemnified Person and the Company, and legal counsel to such Indemnified Person reasonably concludes that
                                                               there may be legal defenses available to it or other Indemnified Persons different from or in addition to those available to the
                                                               Company, such Indemnified Person will employ its own separate counsel (including local counsel, if necessary) to represent or defend
                                                               him, her or it in any such Claim and the Company shall pay the reasonable fees and expenses of such counsel. If such Indemnified
                                                               Person does not request that the Company assume the defense of such Claim, such Indemnified Person will employ its own separate
                                                               counsel (including local counsel, if necessary) to represent or defend him, her or it in any such Claim and the Company shall pay
                                                               the reasonable fees and expenses of such counsel. Notwithstanding anything herein to the contrary, if the Company fails timely or
                                                               diligently to defend, contest, or otherwise protect against any Claim, the relevant Indemnified Person shall have the right, but not
                                                               the obligation, to defend, contest, compromise, settle, assert crossclaims, or counterclaims or otherwise protect against the same,
                                                               and shall be fully indemnified by the Company therefor, including without limitation, for the reasonable fees and expenses of its
                                                               counsel and all amounts paid as a result of such Claim or the compromise or settlement thereof. In addition, with respect to any
                                                               Claim in which the Company assumes the defense, the Indemnified Person shall have the right to participate in
such Claim and to retain his, her or its own counsel therefor at his, her or its own expense.

 

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		4.	The Company agrees that if any indemnity sought by an Indemnified Person hereunder is held by a court
to be unavailable for any reason then (whether or not Wainwright is the Indemnified Person), the Company and Wainwright shall contribute
to the Claim for which such indemnity is held unavailable in such proportion as is appropriate to reflect the relative benefits to the
Company, on the one hand, and Wainwright on the other, in connection with Wainwright’s engagement referred to above, subject to
the limitation that in no event shall the amount of Wainwright’s contribution to such Claim exceed the amount of fees actually received
by Wainwright from the Company pursuant to Wainwright’s engagement. The Company hereby agrees that the relative benefits to the
Company, on the one hand, and Wainwright on the other, with respect to Wainwright’s engagement shall be deemed to be in the same
proportion as (a) the total value paid or proposed to be paid or received by the Company pursuant to the applicable Offering (whether
or not consummated) for which Wainwright is engaged to render services bears to (b) the fee paid or proposed to be paid to Wainwright
in connection with such engagement.

 

		5.	The Company’s indemnity, reimbursement and contribution obligations under this Agreement (a) shall
be in addition to, and shall in no way limit or otherwise adversely affect any rights that any Indemnified Person may have at law or at
equity and (b) shall be effective whether or not the Company is at fault in any way.

 

		6.	The parties hereby acknowledge that the provisions of Sections F and H hereof shall be superseded by indemnification
and contribution provisions included in an underwriting agreement or placement agency agreement, as applicable, that may be executed by
the Company and Wainwright in connection with an Offering.

 

G.            Limitation
of Engagement to the Company. The Company acknowledges that Wainwright has been retained only by the Company, that Wainwright is
providing services hereunder as an independent contractor (and not in any fiduciary or agency capacity) and that the Company’s
engagement of Wainwright is not deemed to be on behalf of, and is not intended to confer rights upon, any shareholder, owner or
partner of the Company or any other person not a party hereto as against Wainwright or any of its affiliates, or any of its or their
respective officers, directors, controlling persons (within the meaning of Section 15 of the Securities Act or Section 20
of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), employees or agents. Unless otherwise
expressly agreed in writing by Wainwright, no one other than the Company is authorized to rely upon this Agreement or any other
statements or conduct of Wainwright, and no one other than the Company is intended to be a beneficiary of this Agreement. The
Company acknowledges that any recommendation or advice, written or oral, given by Wainwright to the Company in connection with
Wainwright’s engagement is intended solely for the benefit and use of the Company’s management and directors in
considering a possible Offering, and any such recommendation or advice is not on behalf of, and shall not confer any rights
or remedies upon, any other person or be used or relied upon for any other purpose. Wainwright shall not have the authority to make
any commitment binding on the Company. The Company, in its sole discretion, shall have the right to reject any investor introduced
to it by Wainwright.

 

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H.            Limitation
of Wainwright’s Liability to the Company. Wainwright and the Company further agree that neither Wainwright nor any of its affiliates
or any of its or their respective officers, directors, controlling persons (within the meaning of Section 15 of the Securities Act
or Section 20 of the Exchange Act), employees or agents shall have any liability to the Company, its security holders or creditors,
or any person asserting claims on behalf of or in the right of the Company (whether direct or indirect, in contract, tort, for an act
of negligence or otherwise) for any losses, fees, damages, liabilities, costs, expenses or equitable relief arising out of or relating
to this Agreement or the services rendered hereunder, except for losses, fees, damages, liabilities, costs or expenses that arise out
of or are based on any action of or failure to act by Wainwright and that are finally judicially determined to have resulted solely from
the gross negligence or willful misconduct of Wainwright.

 

I.             Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York applicable to agreements
made and to be fully performed therein. Any disputes that arise under this Agreement, even after the termination of this Agreement, will
be heard only in the state or federal courts located in the City of New York, State of New York. The parties hereto expressly agree to
submit themselves to the jurisdiction of the foregoing courts in the City of New York, State of New York. The parties hereto expressly
waive any rights they may have to contest the jurisdiction, venue or authority of any court sitting in the City and State of New York.
In the event Wainwright or any Indemnified Person is successful in any action, or suit against the Company, arising out of or relating
to this Agreement, the final judgment or award entered shall be entitled to have and recover from the Company the costs and expenses incurred
in connection therewith, including its reasonable attorneys’ fees. Any rights to trial by jury with respect to any such action,
proceeding or suit are hereby waived by Wainwright and the Company.

 

J.             Notices.
All notices hereunder will be in writing and sent by certified mail, hand delivery, overnight delivery or e-mail, if sent to Wainwright,
at the address set forth on the first page hereof, e-mail: notices@hcwco.com, Attention: Head of Investment Banking, and if sent
to the Company, to the address set forth on the first page hereof, e-mail: alaltomari@agiletherapeutics.com, Attention: Chief Executive
Officer. Notices sent by certified mail shall be deemed received five days thereafter, notices sent by hand delivery or overnight delivery
shall be deemed received on the date of the relevant written record of receipt, notices sent by e-mail shall be deemed received as of
the date and time they were sent.

 

K.            Conflicts.
The Company acknowledges that Wainwright and its affiliates may have and may continue to have investment banking and other relationships
with parties other than the Company pursuant to which Wainwright may acquire information of interest to the Company. Wainwright shall
have no obligation to disclose such information to the Company or to use such information in connection with any contemplated transaction.

 

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L.            Anti-Money
Laundering. To help the United States government fight the funding of terrorism and money laundering, the federal laws of the United
States require all financial institutions to obtain, verify and record information that identifies each person with whom they do business.
This means Wainwright must ask the Company for certain identifying information, including a government-issued identification number (e.g.,
a U.S. taxpayer identification number) and such other information or documents that Wainwright considers appropriate to verify the Company’s
identity, such as certified articles of incorporation, a government-issued business license, a partnership agreement or a trust instrument.

 

M.           Miscellaneous.
The Company represents and warrants that it has all requisite power and authority to enter into and carry out the terms and provisions
of this Agreement and the execution, delivery and performance of this Agreement does not breach or conflict with any agreement, document
or instrument to which it is a party or bound. This Agreement shall not be modified or amended except in writing signed by Wainwright
and the Company. This Agreement shall be binding upon and inure to the benefit of both Wainwright and the Company and their respective
assigns, successors, and legal representatives. This Agreement constitutes the entire agreement of Wainwright and the Company with respect
to the subject matter hereof and supersedes any prior agreements with respect to the subject matter hereof. If any provision of this Agreement
is determined to be invalid or unenforceable in any respect, such determination will not affect such provision in any other respect, and
the remainder of the Agreement shall remain in full force and effect. This Agreement may be executed in counterparts (including electronic
counterparts), each of which shall be deemed an original but all of which together shall constitute one and the same instrument. Signatures
to this Agreement transmitted by electronic mail in “portable document format” (.pdf) form, or by any other electronic means
intended to preserve the original graphic and pictorial appearance of a document, will have the same effect as physical delivery of the
paper document bearing the original signature. The undersigned hereby consents to receipt of this Agreement in electronic form and understands
and agrees that this Agreement may be signed electronically. In the event that any signature is delivered by electronic mail (including
any electronic signature covered by the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act, the Electronic Signatures
and Records Act or other applicable law, e.g., www.docusign.com) or otherwise by electronic transmission evidencing an intent to sign
this Agreement, such electronic mail or other electronic transmission shall create a valid and binding obligation of the undersigned with
the same force and effect as if such signature were an original. Execution and delivery of this Agreement by electronic mail or other
electronic transmission is legal, valid and binding for all purposes.

 

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

 

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In acknowledgment that the
foregoing correctly sets forth the understanding reached by Wainwright and the Company, please sign in the space provided below, whereupon
this letter shall constitute a binding Agreement as of the date indicated above.

 

	 	Very truly yours,
	 	 
	 	H.C. WAINWRIGHT & CO., LLC
	 	 
	 	 
	 	By:	/s/ Mark W. Viklund
	 	 	Name:	Mark W. Viklund
	 	 	Title:	Chief Executive Officer
	 	 	Date:	February 18, 2022

 

	Accepted and Agreed:	 
	 	 
	AGILE THERAPEUTICS, INC.	 
	 	 
	 	 
	By:	/s/ Alfred Altomari	 
	 	Name:	Alfred Altomari	 
	 	Title:	President and Chief Executive Officer	 

 

    10Exhibit 10.33

 

 

Execution Version

 

June 28, 2022

 

STRICTLY CONFIDENTIAL

 

Agile Therapeutics, Inc.

500 College Road East, Suite 310

Princeton, New Jersey 08540

 

Attn: Alfred Altomari, President and Chief Executive Officer

 

Dear Mr. Altomari:

 

Reference is made to the engagement
letter (the “Engagement Letter”), dated February 18, 2022, by and between Agile Therapeutics, Inc. (the “Company”)
and H.C. Wainwright & Co., LLC (“Wainwright”), pursuant to which Wainwright shall serve as the exclusive agent,
advisor or underwriter in any offering of securities of the Company during the “Term” (as defined in the Engagement Letter).
Defined terms used herein but not defined herein shall have the meanings given to such terms in the Engagement Letter.

 

The Company and Wainwright
hereby agree, solely in connection with the Offering of the Company’s equity securities contemplated by the Registration Statement
on Form S-1 (File No. 333-264960), to amend the Engagement Letter as follows:

 

		(i)	delete in its entirety clause (a) of Paragraph A.3 of the Engagement Letter (management fee).

 

		(ii)	delete in its entirety Paragraph A.5 of the Engagement Letter (right of first refusal).

 

		(iii)	amend and restate the first sentence of Paragraph B as the below:

 

“B. Term
and Termination of Engagement; Exclusivity. The term of Wainwright’s exclusive engagement will begin on the date hereof until
the six month anniversary of the date of this amendment (the “Term”).”

 

Except as expressly set forth
above, all of the terms and conditions of the Engagement Letter shall continue in full force and effect after the execution of this amendment
and shall not be in any way changed, modified or superseded except as set forth herein.

 

This amendment shall be construed
and enforced in accordance with the laws of the State of New York, without regards to conflicts of laws principles. This amendment may
be executed in two or more counterparts, each one of which shall be an original, with the same effect as if the signatures thereto and
hereto were upon the same instrument. Counterparts may be delivered via electronic mail (including any electronic signature covered by
the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act, the Electronic Signatures and Records Act or other applicable
law, e.g., www.docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly
delivered and be valid and effective for all purposes.

 

* * * * *

 

430 Park Avenue | New York, NY
10022 | 212.356.0500 | www.hcwco.com

Member:
FINRA/SIPC

 

     

     

    

 

IN WITNESS WHEREOF, this
agreement is executed as of the date first set forth above.

 

	 	Very truly yours,
	 	 
	 	H.C. WAINWRIGHT & CO., LLC
	 	 
	 	By:	                              
	 	 	Name:
	 	 	Title:

 

	Accepted and Agreed:	 
	 	 
	Agile Therapeutics, Inc.	 
	 	 
	 	 
	By:	                                	 
	 	Name:	 
	 	Title:	 

 

    2

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