Document:

Exhibit 10.2

 

EXECUTION VERSION

 

COMPANY STOCKHOLDER SUPPORT AGREEMENT

 

This COMPANY STOCKHOLDER SUPPORT
AGREEMENT, dated as of March 17, 2022 (this “Stockholder Support Agreement”), is entered into by and among Sorrento
Therapeutics, Inc. (“Stockholder”), Scilex Holding Company, a Delaware corporation (the “Company”)
and Vickers Vantage Corp. I, a Cayman Islands exempted company (“Parent”). Capitalized terms used but not defined in
this Stockholder Support Agreement shall have the meanings ascribed to them in the Merger Agreement (as defined below).

 

WHEREAS, contemporaneously
with the execution and delivery of this Agreement, Parent, Vantage Merger Sub Inc., a Delaware corporation and wholly owned subsidiary
of Parent (“Merger Sub”), and the Company have entered into a Merger Agreement (as amended or modified from time to
time, the “Merger Agreement”), dated as of the date hereof;

 

WHEREAS, upon the terms and
subject to the conditions set forth therein and in accordance with the applicable provisions of the DGCL, following the Domestication,
Merger Sub will merge with and into the Company (the “Merger”), and the Company will continue as the surviving company
in the Merger,

 

WHEREAS, as of the date hereof,
Stockholder owns the number of the Company’s common stock, par value $0.0001, set forth after its name on Exhibit A (all
such shares, or any successor or additional shares of the Company of which ownership of record or the power to vote is hereafter acquired
by Stockholder prior to the termination of this Stockholder Support Agreement being referred to herein as the “Shares”);
and

 

WHEREAS, in order to induce
Parent to enter into the Merger Agreement, Stockholder is executing and delivering this Stockholder Support Agreement to Parent.

 

NOW, THEREFORE, in consideration
of the foregoing and of the mutual covenants and agreements contained herein, and intending to be legally bound hereby, the parties hereby
agree as follows:

 

 

1.                 
Binding Effect of Merger Agreement. Stockholder hereby acknowledges that it has read the Merger Agreement and this Stockholder
Support Agreement and has had the opportunity to consult with its tax and legal advisors. Stockholder agrees not to, directly or indirectly,
take any action, or authorize or knowingly permit any of its Affiliates or representatives to take any action on its behalf, that would
be a breach of Sections 7.3 (Alternative Transactions) or 10.5 (Publicity) of the Merger Agreement if such action were
taken by the Company.

 

2.                 
Voting Agreements. During the period commencing on the date hereof and ending on the earlier to occur of (a) the Effective
Time, and (b) such date and time as the Merger Agreement shall be terminated in accordance its terms (whichever earlier, the “Expiration
Time”), Stockholder, in its capacity as a Stockholder of the Company, irrevocably agrees that, at any meeting of the holders
of Company Common Shares (the “Company Stockholders”)
related to the transactions contemplated by the Merger Agreement (whether annual or special and whether or not an adjourned or postponed
meeting, however called and including any adjournment or postponement thereof) (the “Transactions”) and/or in connection
with any written consent of the Company Stockholders related to the Transactions (all meetings or consents related to the Merger Agreement,
collectively referred to herein as the “Meeting”), Stockholder shall:

 

     

     

    

 

		a.	when the Meeting is held, appear at the Meeting or otherwise cause its Shares to be counted as present
thereat for the purpose of establishing a quorum;

 

		b.	vote (or execute and return an action by written consent), or cause to be voted at the Meeting (or validly
execute and return and cause such consent to be granted with respect to), all of its Shares in favor of the approval and adoption of the
Merger Agreement and the Transactions;

 

		c.	authorize and approve any amendment to the Company’s Organizational Documents that is deemed necessary
or advisable by the Company for purposes of effecting the Transactions; and

 

		d.	vote (or execute and return an action by written consent), or cause to be voted at the Meeting (or validly
execute and return and cause such consent to be granted with respect to), all of its Shares against any other action that would reasonably
be expected to (x) impede, interfere with, frustrate, delay, postpone or adversely affect the Merger or any of the Transactions, (y) result
in a breach of any covenant, representation or warranty or other obligation or agreement of the Company under the Merger Agreement or
(z) result in a breach of any covenant, representation or warranty or other obligation or agreement of Stockholder contained in this Stockholder
Support Agreement.

 

3.                 
Restrictions on Transfer. Unless this Agreement is terminated in accordance with the provisions hereof, Stockholder agrees
that it shall not sell, assign or otherwise transfer any of its Shares unless the buyer, assignee or transferee thereof executes a joinder
agreement to this Stockholder Support Agreement in a form reasonably acceptable to Parent. The Company shall not register any sale, assignment
or transfer of any Shares on the Company’s stock ledger (book entry or otherwise) that is not in compliance with this Section 3.

 

4.                 
New Securities. During the period commencing on the date hereof and ending on the Expiration Time, in the event that, (a)
any Company Common Shares or other equity securities of Company are issued to Stockholder after the date of this Stockholder Support
Agreement pursuant to any stock dividend, stock split, recapitalization, reclassification, combination or exchange of Company securities
owned by Stockholder, (b) Stockholder purchases or otherwise acquires beneficial ownership of any Company Common Shares or other equity
securities of Company after the date of this Stockholder Support Agreement, or (c) Stockholder acquires the right to vote or share in
the voting of any Company Common Shares or other equity securities of Company after the date of this Stockholder Support Agreement (such
Company Common Shares or other equity securities of the Company, collectively the “ New Securities ”),
then such New Securities acquired or purchased by each Stockholder shall be subject to the terms of this Stockholder Support Agreement
to the same extent as if they constituted Shares as of the date hereof.

 

     

     

    

 

5.                 
  No Challenge . Stockholder agrees not to commence, join in, facilitate, assist or encourage, and agrees
to take all actions necessary to opt out of any class in any class action with respect to, any claim, derivative or otherwise, against
Parent, Merger Sub, the Company or any of their respective successors or directors (a) challenging the validity of, or seeking to enjoin
the operation of, any provision of this Stockholder Support Agreement or the Merger Agreement or (b) alleging a breach of any fiduciary
duty of any person in connection with the evaluation, negotiation or entry into the Merger Agreement.

 

6.                 
 Waiver . Stockholder hereby irrevocably and unconditionally waives any rights of appraisal, dissenter’s
rights and any similar rights relating to the Merger Agreement and the consummation by the parties of the transactions contemplated thereby,
including the Merger, that Stockholder may have under applicable law.

 

7.                 
 Consent to Disclosure . Stockholder hereby consents to the publication and disclosure in the Form S-4 or
Form F-4 (as applicable) and the Proxy Statement (and, as and to the extent otherwise required by applicable securities Laws or the SEC
or any other securities authorities, any other documents or communications provided by any Parent Party or the Company to any Governmental
Authority or to securityholders of any Parent Party) of Stockholder’s identity and beneficial ownership of Shares and the nature
of Stockholder’s commitments, arrangements and understandings under and relating to this Stockholder Support Agreement and, if deemed
appropriate by Parent or the Company, a copy of this Stockholder Support Agreement. Stockholder will promptly provide any information
reasonably requested by Parent or the Company for any regulatory application or filing made or approval sought in connection with the
Transactions (including filings with the SEC).

 

8.                 
 Stockholder Representations : Stockholder represents and warrants to Parent and the Company, as of the date
hereof, that:

 

		a.	Stockholder is duly organized, validly existing and in good standing under the Laws of the jurisdiction
of its formation, and the execution, delivery and performance of this Stockholder Support Agreement and the consummation of the transactions
contemplated hereby are within Stockholder’s organizational powers and have been duly authorized by all necessary organizational
actions on the part of Stockholder;

 

		b.	this Stockholder Support Agreement has been duly executed and delivered by Stockholder and, assuming due
authorization, execution and delivery by the other parties to this Stockholder Support Agreement, this Stockholder Support Agreement constitutes
a legally valid and binding obligation of Stockholder, enforceable against Stockholder in accordance with the terms hereof (except as
enforceability may be limited by bankruptcy Laws, other similar Laws affecting creditors’ rights and general principles of equity
affecting the availability of specific performance and other equitable remedies);

 

		c.	the execution and delivery of this Stockholder Support Agreement by Stockholder does not, and the
                                                             performance by Stockholder of its obligations hereunder will not, (i) conflict with or result in a violation of the organizational documents of Stockholder, or (ii) require
any consent or approval from any third party that has not been given or other action that has not been taken by any third party, in each
case, to the extent such consent, approval or other action would prevent, enjoin or materially delay the performance by Stockholder of
its obligations under this Stockholder Support Agreement;

 

     

     

    

 

		d.	there are no Actions or Proceedings pending against Stockholder or, to the knowledge of Stockholder, threatened
against Stockholder, before (or, in the case of threatened Proceedings, that would be before) any arbitrator or any Governmental Authority,
which in any manner challenges or seeks to prevent, enjoin or materially delay the performance by Stockholder of its obligations under
this Stockholder Support Agreement;

 

		e.	no broker, finder, investment banker or other Person is entitled to any brokerage fee, finders’
fee or other commission in connection with this Stockholder Support Agreement or any of the respective transactions contemplated hereby,
based upon arrangements made by Stockholder or, to the knowledge of Stockholder, by the Company;

 

		f.	Stockholder has not entered into, and shall not enter into, any agreement that would prevent it from performing
any of its obligations under this Stockholder Support Agreement;

 

		g.	Stockholder has good title to its Shares, free and clear of any Liens other than Permitted Liens, and
Stockholder has the sole power to vote or cause to be voted its Shares; and

 

		h.	the Shares listed opposite Stockholder’s name on  Exhibit A  are the only
shares of the Company’s outstanding capital stock owned of record or beneficially owned by Stockholder as of the date hereof, and
none of its Shares are subject to any proxy, voting trust or other agreement or arrangement with respect to the voting of Shares that
is inconsistent with Stockholder’s obligations pursuant to this Stockholder Support Agreement.

 

9.                 
 Damages; Remedies . Stockholder hereby agrees and acknowledges that (a) Parent and the Company would be
irreparably injured in the event of a breach by Stockholder of its obligations under this Stockholder Support Agreement, (b) monetary
damages may not be an adequate remedy for such breach and (c) the non-breaching party shall be entitled to injunctive relief, in addition
to any other remedy that such party may have in law or in equity, in the event of such breach.

 

10.               Entire
Agreement; Amendment . This Stockholder Support Agreement and the other agreements referenced herein constitute the entire
agreement and understanding of the parties hereto in respect of the subject matter hereof and supersede all prior understandings,
agreements or representations by or among the parties hereto, written or oral, to the extent they relate in any way to the subject
matter hereof or the transactions contemplated hereby. This Stockholder Support Agreement may not be changed, amended, modified or
waived (other than to correct a typographical error) as to any particular provision, except by a written instrument executed by all
parties hereto.

 

     

     

    

 

11.             
 Assignment . No party hereto may, except as set forth herein, assign either this Stockholder Support Agreement
or any of its rights, interests, or obligations hereunder without the prior written consent of the other parties. Any purported assignment
in violation of this paragraph shall be void and ineffectual and shall not operate to transfer or assign any interest or title to the
purported assignee. This Stockholder Support Agreement shall be binding on each Stockholder, Parent and the Company and each of their
respective successors, heirs, personal representatives and assigns and permitted transferees.

 

12.             
 Counterparts . This Stockholder Support Agreement may be executed in any number of original, electronic
or facsimile counterparts and each of such counterparts shall for all purposes be deemed to be an original, and all such counterparts
shall together constitute but one and the same instrument.

 

13.             
 Severability . This Stockholder Support Agreement shall be deemed severable, and the invalidity or unenforceability
of any term or provision hereof shall not affect the validity or enforceability of this Stockholder Support Agreement or of any other
term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable term or provision, the parties hereto intend that
there shall be added as a part of this Stockholder Support Agreement a provision as similar in terms to such invalid or unenforceable
provision as may be possible and be valid and enforceable.

 

14.             
 Governing Law; Jurisdiction; Jury Trial Waiver . Sections 10.8, 10.17 and 10.18 of the Merger Agreement
is incorporated by reference herein to apply with full force to any disputes arising under this Stockholder Support Agreement.

 

15.             
 Notice . Any notice, consent or request to be given in connection with any of the terms or provisions of
this Stockholder Support Agreement shall be in writing and shall be sent or given in accordance with the terms of Section 10.1 of the
Merger Agreement to the applicable party, with respect to the Company and Parent, at the address set forth in Section 10.1 of the Merger
Agreement, and, with respect to Stockholder, at its address set forth on  Exhibit A .

 

16.             
 Termination . This Stockholder Support Agreement shall terminate on the earlier of the Closing or the termination
of the Merger Agreement. No such termination shall relieve Stockholder, Parent or the Company from any liability resulting from a breach
of this Stockholder Support Agreement occurring prior to such termination.

 

17.             
 Adjustment for Stock Split . If, and as often as, there are any changes in the Shares by way of stock split,
stock dividend, combination or reclassification, or through merger, consolidation, reorganization, recapitalization or business combination,
or by any other means, equitable adjustment shall be made to the provisions of this Stockholder Support Agreement as may be required so
that the rights, privileges, duties and obligations hereunder shall continue with respect to Stockholder, Parent and the Company and the
Stockholder Shares as so changed.

 

18.               Further
Actions . Each of the parties hereto agrees to execute and deliver hereafter any further document, agreement or instrument of
assignment, transfer or conveyance as may be necessary or desirable to effectuate the purposes hereof and as may be reasonably
requested in writing by another party hereto.

 

     

     

    

 

19.             
 Specific Performance . The parties hereto agree that irreparable damage would occur if any provision of
this Agreement were not performed in accordance with the terms hereof, and accordingly, that the parties shall be entitled to an injunction
or injunctions to prevent breaches of this Agreement or to enforce specifically the performance of the terms and provisions hereof without
proof of actual damages or otherwise, in addition to any other remedy to which they are entitled at law or in equity as expressly permitted
in this Agreement. Each of the parties further waives (i) any defense in any action for specific performance that a remedy at law would
be adequate and (b) any requirement to post security or a bond as prerequisite to obtaining equitable relief.

 

[remainder of page intentionally
left blank]

 

     

     

    

 

IN WITNESS WHEREOF, Stockholder,
Parent and the Company have each caused this Stockholder Support Agreement to be duly executed as of the date first written above.

 

	 	Stockholder:
	 	 
	 	Sorrento
    Therapeutics, Inc.
	 	 
	 	By:	/s/
Henry Ji, Ph.D.
	 	Name: 
    Henry Ji, Ph.D.
	 	Title:
    Chief Executive Officer
	 	 
	 	Company:
	 	 
	 	Scilex
    Holding Company
	 	 
	 	By:	/s/
Jaisim Shah
	 	Name:
Jaisim Shah
	 	Title:
    Chief Executive Officer

 

     

     

    

	 	 
	 	VICKERS
    VANTAGE CORP. I
	 	 
	 	By:	/s/ Jeffrey Chi
	 	Name:
    Jeffrey Chi
	 	Title:
    Chief Executive Officer

 

     

     

    

 

Exhibit A

 

Stockholders

 

	Stockholder	Number of Shares	Address for Notices
	Sorrento Therapeutics, Inc.	197,210,505	
    4955 Directors Place

    San Diego, CA 92121Exhibit 10.3

 

AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT

 

THIS AMENDED AND RESTATED
REGISTRATION RIGHTS AGREEMENT (this “Agreement”), dated as of ___________, 2022, is made and entered into by
and among, (i) Scilex Holding Company, a Delaware corporation formerly known as Vickers Vantage Corp. I (the “Company”),
(ii) the equityholders designated as Sponsor Equityholders on Schedule A hereto (collectively, the “Sponsor
Equityholders”); and (iii) Sorrento Therapeutics, Inc. (the “Legacy Scilex Equityholder”
and, together with the Sponsor Equityholders and any person or entity who hereafter becomes a party to this Agreement pursuant to Section 6.2
of this Agreement, the “Holders” and each individually a “Holder”). Capitalized terms
used but not otherwise defined in this Agreement shall have the meanings ascribed to such terms in the Merger Agreement (as defined below).

 

RECITALS

 

WHEREAS, the Company and the
Sponsor Equityholders are parties to that certain Registration Rights Agreement, dated as of January 6, 2021 (the “Prior
Agreement”);

 

WHEREAS, the Company, Vantage
Merger Sub Inc., a Delaware corporation (“Merger Sub”), and [•][1],
an entity formerly known as Scilex Holding Company, a Delaware corporation (“Legacy Scilex”), are party to that
certain Agreement and Plan of Merger, dated as of March 17, 2022 (as amended or restated from time to time, the “Merger Agreement”),
pursuant to which, on the date hereof, Merger Sub merged (the “Merger”) with and into Legacy Scilex, with Legacy
Scilex surviving the Merger as a wholly owned subsidiary of the Company;

 

WHEREAS, the Legacy Scilex
Equityholder is receiving shares of Common Stock, par value $0.0001 per share, of the Company (the “Common Stock”)
on or about the date hereof, pursuant to the Merger Agreement (the “Merger Shares”);

 

WHEREAS, in connection with
the consummation of the Merger, the parties to the Prior Agreement desire to amend and restate the Prior Agreement in its entirety as
set forth herein, and the parties hereto desire to enter into this Agreement pursuant to which the Company shall grant the Holders certain
registration rights with respect to the Registrable Securities (as defined below) on the terms and conditions set forth in this Agreement;

 

WHEREAS, pursuant to Section 6.7
of the Prior Agreement, no amendment, modification or termination of the Prior Agreement shall be binding upon any party unless executed
in writing by such party; and

 

WHEREAS, all of the parties
to the Prior Agreement desire to amend and restate the Prior Agreement in its entirety and enter into this Agreement, pursuant to which
the Company shall grant the Holders certain registration rights with respect to certain securities of the Company, as set forth in this
Agreement, effective as of the Closing.

 

NOW, THEREFORE,
in consideration of the representations, covenants and agreements contained herein, and certain other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

 

Article
I

DEFINITIONS

 

1.1               
Definitions. The terms defined in this Article I shall, for all purposes of this Agreement, have the respective meanings
set forth below:

 

“Adverse
Disclosure” shall mean any public disclosure of material non-public information, which disclosure, in the good faith
judgment of the Chief Executive Officer or Chief Financial Officer of the Company, after consultation with counsel to the Company,
(i) would be required to be made in any Registration Statement or Prospectus in order for the applicable Registration Statement
or Prospectus not to contain any untrue statement of a material fact or omit to state a material fact necessary to make the
statements contained therein (in the case of any prospectus and any preliminary prospectus, in the light of the circumstances under
which they were made) not misleading, (ii) would not be required to be made at such time if the Registration Statement were not
being filed, declared effective or used, as the case may be, and (iii) the Company has a bona fide business purpose for not
making such information public.

 

 

1 Note to Draft: Current entity named
Scilex Holding Company will be renamed prior to closing and name will be filled in prior to closing/before this agreement is executed.

 

     

     

    

 

“Block Trade”
shall mean an offering and/or sale of Registrable Securities by any Holder on a block trade or underwritten basis (whether firm commitment
or otherwise) without substantial marketing efforts prior to pricing, including, without limitation, a same day trade, overnight trade
or similar transaction.

 

“Board”
shall mean the Board of Directors of the Company.

 

“Change in Control”
shall mean any transfer (whether by tender offer, merger, stock purchase, consolidation or other similar transaction), in one transaction
or a series of related transactions, to a person or group of affiliated persons of the Company’s voting securities if, after such
transfer, such person or group of affiliated persons would hold more than 50% of outstanding voting securities of the Company (or
surviving entity) or would otherwise have the power to control the Board or to direct the operations of the Company.

 

“Commission”
shall mean the Securities and Exchange Commission.

 

“Exchange Act”
shall mean the Securities Exchange Act of 1934, as it may be amended from time to time.

 

“Founder Shares”
shall mean the 3,450,000 ordinary shares of the Company issued to its initial shareholders prior to the Company’s initial public
offering.

 

“Holders”
shall have the meaning given in the Preamble, for so long as such person or entity holds any Registrable Securities.

 

“Misstatement”
shall mean an untrue statement of a material fact or an omission to state a material fact required to be stated in a Registration Statement
or Prospectus, or necessary to make the statements in a Registration Statement or Prospectus (in the case of a Prospectus, in the light
of the circumstances under which they were made) not misleading.

 

“Permitted Transferees”
shall mean any person or entity to whom a Holder of Registrable Securities is permitted to transfer such Registrable Securities prior
to the expiration of the Lock-up Period under this Agreement and any other applicable agreement between such Holder and the Company, and
to any transferee thereafter.

 

“Private Placement
Warrants” shall mean the 6,840,000 Private Placement Warrants issued by the Company that were privately purchased simultaneously
with the consummation of the Company’s initial public offering.

 

“Prospectus”
shall mean the prospectus included in any Registration Statement, as supplemented by any and all prospectus supplements and as amended
by any and all post-effective amendments and including all material incorporated by reference in such prospectus.

 

“Registrable
Security” shall mean (a) the Merger Shares (b) the Founder Shares and the shares of Common Stock issued or
issuable upon the conversion of any Founder Shares, (c) the Private Placement Warrants and the Common Stock issued or issuable
upon the exercise of the Private Placement Warrants, (d) the Working Capital Warrants and any shares of Common Stock issued or
issuable upon the exercise of the Working Capital Warrants and (e) any outstanding share of the Common Stock or any other
equity security (including the shares of Common Stock issued or issuable upon the exercise of any other equity security) of the
Company held by a Holder as of the date of this Agreement, and (f) any other equity security of the Company issued or issuable
with respect to any such share of the Common Stock by way of a stock dividend or stock split or in connection with a combination of
shares, recapitalization, merger, consolidation, spin-off, reorganization or similar transaction; provided, however,
that, as to any particular Registrable Security, such securities shall cease to be Registrable Securities upon the earliest occur
of: (A) a Registration Statement with respect to the sale of such securities shall have become effective under the Securities
Act and such securities shall have been sold, transferred, disposed of or exchanged in accordance with such Registration Statement;
(B) such securities shall have been otherwise transferred (other than to a Permitted Transferee), new certificates for such
securities not bearing (or book entry positions not subject to) a legend restricting further transfer shall have been delivered by
the Company and subsequent public distribution of such securities shall not require registration under the Securities Act;
(C) such securities shall have ceased to be outstanding; (D) such securities may be sold without registration pursuant to
Rule 144 promulgated under the Securities Act (or any successor rule promulgated thereafter by the Commission) (but with no
volume or other restrictions or limitations); or (E) such securities have been sold to, or through, a broker, dealer or
underwriter in a public distribution or other public securities transaction.

 

    2

     

    

 

“Registration”
shall mean a registration effected by preparing and filing a Registration Statement, Prospectus or similar document in compliance with
the requirements of the Securities Act, and the applicable rules and regulations promulgated thereunder, and such registration statement
becoming effective.

 

“Registration
Expenses” shall mean the out-of-pocket expenses of a Registration, including, without limitation, the following:

 

(A)              
all registration and filing fees (including fees with respect to filings required to be made with the Financial Industry Regulatory
Authority, Inc.) and any securities exchange on which the Common Stock is then listed;

 

(B)              
fees and expenses of compliance with securities or blue sky laws (including reasonable fees and disbursements of counsel for the
Underwriters in connection with blue sky qualifications of Registrable Securities);

 

(C)              
printing, messenger, telephone and delivery expenses;

 

(D)              
reasonable fees and disbursements of counsel for the Company;

 

(E)               
reasonable fees and disbursements of all independent registered public accountants of the Company incurred specifically in connection
with such Registration; and

 

(F)               
in an Underwritten Offering, reasonable fees and expenses of one (1) legal counsel selected by the majority-in-interest of
the Demanding Holders (not to exceed $50,000 without the prior written consent of the Company).

 

“Registration
Statement” shall mean any registration statement filed by the Company with the Commission that covers the Registrable Securities
pursuant to the provisions of this Agreement, including the Prospectus included in such registration statement, amendments (including
post-effective amendments) and supplements to such registration statement, and all exhibits to and all material incorporated by reference
in such registration statement.

 

“Securities Act”
shall mean the Securities Act of 1933, as amended from time to time.

 

“Shelf”
shall mean the Form S-1 Shelf, the Form S-3 Shelf or any subsequent Shelf Registration.

 

“Shelf Registration”
shall mean a registration of securities pursuant to a Registration Statement filed with the Commission in accordance with and pursuant
to Rule 415 promulgated under the Securities Act (or any successor rule then in effect).

 

“Sponsor”
shall mean Vickers Venture Fund VI Pte Ltd and Vickers Venture Fund VI (Plan) Pte Ltd.

 

“Transfer”
shall mean the (a) the sale or assignment of, offer to sell, contract or agreement to sell, grant of any option to purchase or otherwise
dispose of or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent position or liquidation
with respect to or decrease of a call equivalent position within the meaning of Section 16 of the Exchange Act with respect to, any
security, (b) entry into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences
of ownership of any security, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (c) public
announcement of any intention to effect any transaction specified in clause (a) or (b).

 

    3

     

    

 

“Underwriter”
shall mean a securities dealer who purchases any Registrable Securities as principal in an Underwritten Offering and not as part of such
dealer’s market-making activities.

 

“Underwritten
Registration” or “Underwritten Offering” shall mean a Registration in which securities of the
Company are sold to an Underwriter in a firm commitment underwriting for distribution to the public.

 

“Working Capital
Warrants” shall mean any warrants issued in payment for working capital loans from the Sponsor to the Company.

 

Article
II

REGISTRATIONS

 

2.1               
Shelf Registration.

 

2.1.1          
Filing. The Company shall as soon as reasonably practicable, but in any event within forty-five (45) days after the
Closing Date, use commercially reasonable efforts to file with the Commission a Registration Statement for a Shelf Registration on Form S-1
(the “Form S-1 Shelf”) covering, subject to Section 3.4, the public resale of all of the Registrable
Securities (determined as of two (2) business days prior to such filing) on a delayed or continuous basis and shall use its commercially
reasonable efforts to cause such Form S-1 Shelf to be declared effective as soon as practicable after the filing thereof, but in
no event later than the earlier of (i) the 90th calendar day (or as soon as reasonably practicable if the Commission notifies
the Company that it will “review” the Registration Statement) following the Closing Date and (ii) the 10th business
day after the date the Company is notified (orally or in writing, whichever is earlier) by the Commission that the Registration Statement
will not be “reviewed” or will not be subject to further review. Such Form S-1 Shelf shall provide for the resale of
the Registrable Securities included therein pursuant to any method or combination of methods legally available to, and requested by, any
Holder named therein. The Company shall maintain a Shelf in accordance with the terms hereof, and shall prepare and file with the Commission
such amendments, including post-effective amendments, and supplements as may be necessary to keep a Shelf continuously effective, available
for use to permit the Holders named therein to sell their Registrable Securities included therein and in compliance with the provisions
of the Securities Act until such time as there are no longer any Registrable Securities. Following the filing of a Form S-1 Shelf,
the Company shall use its commercially reasonable efforts to convert the Form S-1 Shelf (and any Subsequent Shelf Registration) to
a Registration Statement on Form S-3 (the “Form S-3 Shelf”) as soon as reasonably practicable after
the Company is eligible to use Form S-3. As soon as reasonably practicable following the effective date of a Registration Statement
filed pursuant to this Section 2.1.1, the Company shall notify the Holders of the effectiveness of such Registration Statement. The Company’s
obligation under this Section 2.1.1 shall, for the avoidance of doubt be subject to Section 3.4 hereto.

 

2.1.2           Subsequent
Shelf Registration. If any Shelf ceases to be effective under the Securities Act for any reason at any time while Registrable
Securities are still outstanding, the Company shall, subject to Section 3.4, use its commercially reasonable efforts to as
promptly as is reasonably practicable cause such Shelf to again become effective under the Securities Act (including using its
commercially reasonable efforts to obtain the prompt withdrawal of any order suspending the effectiveness of such Shelf), and shall
use its commercially reasonable efforts to as promptly as is reasonably practicable amend such Shelf in a manner reasonably expected
to result in the withdrawal of any order suspending the effectiveness of such Shelf or file an additional registration statement as
a Shelf Registration (a “Subsequent Shelf Registration”) registering the resale of all Registrable
Securities (determined as of two (2) business days prior to such filing), and pursuant to any method or combination of methods
legally available to, and requested by, any Holder named therein. If a Subsequent Shelf Registration is filed, the Company shall use
its commercially reasonable efforts to (i) cause such Subsequent Shelf Registration to become effective under the Securities
Act as promptly as is reasonably practicable after the filing thereof (it being agreed that the Subsequent Shelf Registration shall
be an automatic shelf registration statement (as defined in Rule 405 promulgated under the Securities Act) if the Company
is a well-known seasoned issuer (as defined in Rule 405 promulgated under the Securities Act) at the most recent applicable
eligibility determination date) and (ii) keep such Subsequent Shelf Registration continuously effective, available for use to
permit the Holders named therein to sell their Registrable Securities included therein and in compliance with the provisions of the
Securities Act until such time as there are no longer any Registrable Securities. Any such Subsequent Shelf Registration shall be on
Form S-3 to the extent that the Company is eligible to use such form. Otherwise, such Subsequent Shelf Registration shall be on
another appropriate form. The Company’s obligation under this Section 2.1.2 shall, for the avoidance of doubt be subject
to Section 3.4 hereto.

 

    4

     

    

 

2.1.3          
Requests for Underwritten Shelf Takedowns. At any time and from time to time when an effective Shelf is on file with the
Commission, the Legacy Scilex Equityholder or a majority-in-interest of the Sponsor Equityholders (any of the Legacy Scilex Equityholder
or the Sponsor Equityholders being, in such case, a “Demanding Holder”) may request to sell all or any portion
of their Registrable Securities in an Underwritten Offering that is registered pursuant to the Shelf (each, an “Underwritten
Shelf Takedown”); provided that the Company shall only be obligated to effect an Underwritten Offering if such offering
shall include Registrable Securities proposed to be sold by the Demanding Holder(s), either individually or together with other Demanding
Holders, with a total offering price reasonably expected to exceed, in the aggregate, $50 million (the “Minimum Takedown
Threshold”). All requests for Underwritten Shelf Takedowns shall be made by giving written notice to the Company, which
shall specify the approximate number of Registrable Securities proposed to be sold in the Underwritten Offering. Subject to Section 2.3.4,
the Company shall have the right to select the Underwriters for such offering (which shall consist of one or more reputable nationally
recognized investment banks), subject to the initial Demanding Holder’s prior approval (which shall not be unreasonably withheld,
conditioned or delayed). The Legacy Scilex Equityholder, on the one hand, and the Sponsor Equityholders, on the other hand, may each demand
not more than two (2) Underwritten Offerings pursuant to this Section 2.1.3 in any 12-month period. Notwithstanding anything
to the contrary in this Agreement, the Company may effect any Underwritten Offering pursuant to any then effective Registration Statement,
including a Form S-3, that is then available for such offering.

 

2.1.4          
Reduction of Underwritten Offering. If the managing Underwriter or Underwriters in an Underwritten Shelf Takedown, in good
faith, advises the Company, the Demanding Holders and Holders requesting piggyback rights pursuant to this Agreement with respect to such
Underwritten Shelf Takedown (the “Requesting Holders”) (if any) in writing that the dollar amount or number
of Registrable Securities that the Demanding Holders and the Requesting Holders (if any) desire to sell, taken together with all other
shares of Common Stock or other equity securities that the Company desires to sell and all other shares of Common Stock or other equity
securities, if any, as to which a Registration has been requested pursuant to separate written contractual piggyback registration rights
held by any other stockholders who desire to sell, exceeds the maximum dollar amount or maximum number of equity securities that can be
sold in the Underwritten Offering without adversely affecting the proposed offering price, the timing, the distribution method, or the
probability of success of such offering (such maximum dollar amount or maximum number of such securities, as applicable, the “Maximum
Number of Securities”), then the Company shall include in such Underwritten Offering, as follows: (i) first, the Registrable
Securities of the Demanding Holders and the Requesting Holders (if any) (pro rata based on the respective number of Registrable Securities
that each Demanding Holder and Requesting Holder (if any) has requested be included in such Underwritten Registration and the aggregate
number of Registrable Securities that the Demanding Holders and Requesting Holders have requested be included in such Underwritten Registration
(such proportion is referred to herein as “Pro Rata”)) that can be sold without exceeding the Maximum Number
of Securities; (ii) second, to the extent that the Maximum Number of Securities has not been reached under the foregoing clause (i),
the shares of Common Stock or other equity securities that the Company desires to sell, which can be sold without exceeding the Maximum
Number of Securities; and (iii) third, to the extent that the Maximum Number of Securities has not been reached under the foregoing
clauses (i) and (ii), the shares of Common Stock or other equity securities of other persons or entities that the Company is obligated
to register in a Registration pursuant to separate written contractual arrangements with such persons and that can be sold without exceeding
the Maximum Number of Securities.

 

2.1.5           Withdrawal.
Prior to the pricing of an Underwritten Shelf Takedown, a majority-in-interest of the Demanding Holders initiating such Underwritten
Offering shall have the right to withdraw from a Registration pursuant to such Underwritten Offering for any or no reason whatsoever
upon written notification (a “Withdrawal Notice”) to the Company and the Underwriter or Underwriters (if
any) of their intention to withdraw from such Underwritten Offering; provided that any Legacy Scilex Equityholder or Sponsor
Equityholder may elect to have the Company continue an Underwritten Offering if the Minimum Takedown Threshold would still be
satisfied by the Registrable Securities proposed to be sold in the Underwritten Offering by the Legacy Scilex Equityholder and the
Sponsor Equityholders. If withdrawn, a demand for an Underwritten Offering shall constitute a demand for an Underwritten Offering by
the withdrawing Demanding Holder for purposes of Section 2.1.3, unless either (i) such Demanding Holder has not previously
withdrawn any Underwritten Offering or (ii) such Demanding Holder reimburses the Company for all Registration Expenses with
respect to such Underwritten Offering (or, if there is more than one Demanding Holder, a pro rata portion of such
Registration Expenses based on the respective number of Registrable Securities that each Demanding Holder has requested be included
in such Underwritten Offering); provided that, if a Legacy Scilex Equityholder or a Sponsor Equityholder elects to continue an
Underwritten Offering pursuant to the proviso in the immediately preceding sentence, such Underwritten Offering shall instead count
as an Underwritten Offering demanded by the Legacy Scilex Equityholder or the Sponsor Equityholders, as applicable, for purposes of
Section 2.1.3. Following the receipt of any Withdrawal Notice, the Company shall promptly forward such Withdrawal Notice to any
other Holders that had elected to participate in such Underwritten Shelf Takedown. Notwithstanding anything to the contrary in this
Agreement, the Company shall be responsible for the Registration Expenses incurred in connection with an Underwritten Shelf Takedown
prior to its withdrawal under this Section 2.1.5, other than if a Demanding Holder elects to pay such Registration Expenses
pursuant to clause (ii) of the second sentence of this Section 2.1.5.

 

    5

     

    

 

2.2               
Piggyback Registration.

 

2.2.1          
Piggyback Rights. If the Company proposes to file a Registration Statement under the Securities Act with respect to an offering
of equity securities, or securities or other obligations exercisable or exchangeable for, or convertible into equity securities, for its
own account or for the account of stockholders of the Company (or by the Company and by the stockholders of the Company including, without
limitation, pursuant to Section 2.1 hereof), other than a Registration Statement (or any registered offering with respect thereto)
(i) filed in connection with any employee stock option or other benefit plan, (ii) for an exchange offer or offering of securities
solely to the Company’s existing stockholders, (iii) for an offering of debt that is convertible into equity securities of
the Company, (iv) pursuant to a Registration Statement on Form S-4 (or similar form that relates to a transaction subject to
Rule 145 under the Securities Act or any successor rule thereto), (v) for a dividend reinvestment plan, or (vi) for a Block
Trade, then the Company shall give written notice of such proposed filing to all of the Holders of Registrable Securities as soon as practicable
but not less than ten (10) days before the anticipated filing date of such Registration Statement or, in the case of an Underwritten
Offering pursuant to a Shelf Registration, the applicable “red herring” prospectus or prospectus supplement used for marketing
such offering, which notice shall (A) describe the amount and type of securities to be included in such offering, the intended method(s)
of distribution, and the name of the proposed managing Underwriter or Underwriters, if any, in such offering, and (B) offer to all
of the Holders of Registrable Securities the opportunity to register the sale of such number of Registrable Securities as such Holders
may request in writing within five (5) days after receipt of such written notice (such Registration a “Piggyback Registration”).
Subject to Section 2.2.2, the Company shall, in good faith, cause such Registrable Securities to be included in such Piggyback Registration
and, if applicable, shall use its commercially reasonable efforts to cause the managing Underwriter or Underwriters of a proposed Underwritten
Offering to permit the Registrable Securities requested by the Holders pursuant to this Section 2.2.1 to be included in a Piggyback
Registration on the same terms and conditions as any similar securities of the Company included in such registered offering and to permit
the sale or other disposition of such Registrable Securities in accordance with the intended method(s) of distribution thereof. All such
Holders proposing to distribute their Registrable Securities through an Underwritten Offering under this Section 2.2.1 shall enter
into an underwriting agreement in customary form with the Underwriter(s) selected for such Underwritten Offering by the Company.

 

2.2.2          
Reduction of Piggyback Registration. If the managing Underwriter or Underwriters in an Underwritten Registration that is
to be a Piggyback Registration, in good faith, advises the Company and the Holders of Registrable Securities participating in the Piggyback
Registration in writing that the dollar amount or number of shares of Common Stock or other equity securities that the Company desires
to sell, taken together with (i) the shares of Common Stock or other equity securities, if any, as to which Registration or a registered
offering has been demanded pursuant to separate written contractual arrangements with persons or entities other than the Holders of Registrable
Securities hereunder, (ii) the Registrable Securities as to which registration has been requested pursuant to Section 2.2 hereof,
and (iii) the shares of Common Stock or other equity securities, if any, as to which Registration or a registered offering has been
requested pursuant to separate written contractual piggyback registration rights of stockholders of the Company other than the Holders
of Registrable Securities, exceeds the Maximum Number of Securities, then:

 

    6

     

    

 

(a)                 If
the Registration or a registered offering is undertaken for the Company’s account, the Company shall include in any such
Registration or a registered offering (A) first, the shares of Common Stock or other equity securities that the Company desires
to sell, which can be sold without exceeding the Maximum Number of Securities; (B) second, to the extent that the Maximum
Number of Securities has not been reached under the foregoing clause (A), the Registrable Securities of Holders exercising
their rights to register their Registrable Securities pursuant to Section 2.2.1 hereof, Pro Rata, based on the respective
number of Registrable Securities that each Holder has so requested to be included in such Registration or such registered offering,
which can be sold without exceeding the Maximum Number of Securities; and (C) third, to the extent that the Maximum Number of
Securities has not been reached under the foregoing clauses (A) and (B), the shares of Common Stock or other equity securities,
if any, as to which Registration or a registered offering has been requested pursuant to written contractual piggyback registration
rights of stockholders of the Company other than the Holders of Registrable Securities, which can be sold without exceeding the
Maximum Number of Securities;

 

(b)               
If the Registration or a registered offering is pursuant to a request by persons or entities other than the Holders of Registrable
Securities, then the Company shall include in any such Registration or a registered offering (A) first, the shares of Common Stock
or other equity securities, if any, of such requesting persons or entities, other than the Holders of Registrable Securities, which can
be sold without exceeding the Maximum Number of Securities; (B) second, to the extent that the Maximum Number of Securities has not
been reached under the foregoing clause (A), the Registrable Securities of Holders exercising their rights to register their Registrable
Securities pursuant to Section 2.2.1, Pro Rata, based on the respective number of Registrable Securities that each Holder has so
requested to be included in such Registration or such registered offering, which can be sold without exceeding the Maximum Number of Securities;
(C) third, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (A) and (B),
the shares of Common Stock or other equity securities that the Company desires to sell, which can be sold without exceeding the Maximum
Number of Securities; and (D) fourth, to the extent that the Maximum Number of Securities has not been reached under the foregoing
clauses (A), (B) and (C), the shares of Common Stock or other equity securities, if any, as to which Registration or a registered
offering has been requested pursuant to separate written contractual piggyback registration rights of persons or entities other than the
Holders of Registrable Securities hereunder, which can be sold without exceeding the Maximum Number of Securities; and

 

(c)                
If the Registration or registered offering is pursuant to a request by Holder(s) of Registrable Securities pursuant to Section 2.1
hereof, then the Company shall include in any such Registration or registered offering securities in the priority set forth in Section 2.1.4.

 

2.2.3          
Piggyback Registration Withdrawal. Any Holder of Registrable Securities (other than a Demanding Holder, whose right to withdraw
from an Underwritten Shelf Takedown, and related obligations, shall be governed by Section 2.1.5) shall have the right to withdraw
from a Piggyback Registration for any or no reason whatsoever upon written notification to the Company and the Underwriter or Underwriters
(if any) of his, her or its intention to withdraw from such Piggyback Registration prior to the effectiveness of the Registration Statement
filed with the Commission with respect to such Piggyback Registration or, in the case of a Piggyback Registration pursuant to a Shelf
Registration, the filing of the applicable “red herring” prospectus or prospectus supplement with respect to such Piggyback
Registration used for marketing such transaction. The Company (whether on its own good faith determination or as the result of a request
for withdrawal by persons or entities pursuant to separate written contractual obligations) may withdraw a Registration Statement filed
with the Commission in connection with a Piggyback Registration at any time prior to the effectiveness of such Registration Statement
or abandon the Underwritten Shelf Takedown in connection with a Piggyback Registration at any time prior to the launch of such Underwritten
Shelf Takedown. Notwithstanding anything to the contrary in this Agreement, the Company shall be responsible for the Registration Expenses
incurred in connection with the Piggyback Registration prior to its withdrawal under this Section 2.2.3.

 

2.2.4          
Unlimited Piggyback Registration Rights. For purposes of clarity, any Piggyback Registration effected pursuant to Section 2.2
hereof shall not be counted as a Registration pursuant to a Underwritten Shelf Takedown effected under Section 2.1 hereof.

 

    7

     

    

 

2.3               
Block Trades.

 

2.3.1           Notwithstanding
the foregoing, at any time and from time to time when an effective Shelf is on file with the Commission, if a Demanding Holder
wishes to engage in a Block Trade, (x) with a total offering price reasonably expected to exceed $75 million in the
aggregate or (y) with respect to all remaining Registrable Securities held by the Demanding Holder, then such Demanding Holder
only needs to notify the Company of the Block Trade at least five (5) business days prior to the day such offering is to
commence and the Company shall as expeditiously as possible use its commercially reasonable efforts to facilitate such Block Trade;
provided that the Demanding Holders representing a majority of the Registrable Securities wishing to engage in the Block Trade shall
use commercially reasonable efforts to work with the Company and any Underwriters prior to making such request in order to
facilitate preparation of the registration statement, prospectus and other offering documentation related to the Block Trade.

 

2.3.2          
Prior to the filing of the applicable “red herring” prospectus or prospectus supplement used in connection with a Block
Trade, a majority-in-interest of the Demanding Holders initiating such Block Trade shall have the right to submit a Withdrawal Notice
to the Company and the Underwriter or Underwriters (if any) of their intention to withdraw from such Block Trade. Notwithstanding anything
to the contrary in this Agreement, the Company shall be responsible for the Registration Expenses incurred in connection with a Block
Trade prior to its withdrawal under this Section 2.3.2.

 

2.3.3          
Notwithstanding anything to the contrary in this Agreement, Section 2.2 hereof shall not apply to a Block Trade initiated
by a Demanding Holder pursuant to this Agreement.

 

2.3.4          
The Demanding Holder in a Block Trade shall have the right to select the Underwriters for such Block Trade (which shall consist
of one or more reputable nationally recognized investment banks).

 

2.3.5          
The Legacy Scilex Equityholder, on the one hand, and the Sponsor Equityholders, on the other hand, may each demand no more than
one (1) Block Trade pursuant to this Section 2.3 in any twelve (12) month period. For the avoidance of doubt, any Block
Trade effected pursuant to this Section 2.3 shall not be counted as a demand for an Underwritten Shelf Takedown pursuant to Section 2.1.3
hereof.

 

2.4               
Restrictions on Registration Rights. If (A) during the period starting with the date sixty (60) days prior to
the Company’s good faith estimate of the date of the filing of, and ending on a date one hundred and twenty (120) days after
the effective date of, a Company initiated Registration and provided that the Company continues to actively employ, in good faith, all
commercially reasonable efforts to cause the applicable Registration Statement to become effective; (B) the Holders have requested
an Underwritten Registration and the Company and the Holders are unable to obtain the commitment of underwriters to firmly underwrite
the offer; or (C) in the good faith judgment of the Board such Registration would be seriously detrimental to the Company and the
Board concludes as a result that it is essential to defer the filing of such Registration Statement at such time, then in each case the
Company shall furnish to such Holders a certificate signed by the Chairman of the Board stating that in the good faith judgment of the
Board it would be seriously detrimental to the Company for such Registration Statement to be filed in the near future and that it is therefore
essential to defer the filing of such Registration Statement. In such event, the Company shall have the right to defer such filing for
a period of not more than ninety (90) consecutive days; or more than one hundred and twenty (120) total calendar days, in each
case, during any 12-month period.

 

Article
III

COMPANY PROCEDURES

 

3.1               
General Procedures. If the Company is required to effect the Registration of Registrable Securities pursuant to this Agreement,
the Company shall use its commercially reasonable efforts to effect such Registration to permit the sale of such Registrable Securities
in accordance with the intended plan of distribution thereof, and pursuant thereto the Company shall:

 

3.1.1          
prepare and file with the Commission within the time frame required by Section 2.1.1 (to the extent applicable) a Registration
Statement with respect to such Registrable Securities and use its commercially reasonable efforts to cause such Registration Statement
to become effective and remain effective, until all Registrable Securities covered by such Registration Statement have been sold or have
ceased to be Registrable Securities;

 

    8

     

    

 

3.1.2           prepare
and file with the Commission such amendments and post-effective amendments to the Registration Statement, and such supplements to
the Prospectus, as may be reasonably requested by any Holder with Registrable Securities registered on such Registration Statement
or any Underwriter of Registrable Securities or as may be required by the rules, regulations or instructions applicable to the
registration form used by the Company or by the Securities Act or rules and regulations thereunder to keep the Registration
Statement effective until all Registrable Securities covered by such Registration Statement are sold in accordance with the intended
plan of distribution set forth in such Registration Statement or supplement to the Prospectus or have ceased to be Registrable
Securities;

 

3.1.3          
at least five days prior to filing a Registration Statement or Prospectus, or any amendment or supplement thereto (or such shorter
period of time as may be (a) necessary in order to comply with the Securities Act, the Exchange Act and the rules and regulations promulgated
thereunder or (b) advisable in order to reduce the number of days that sales are suspended pursuant to Section 3.4), furnish without charge
to the Underwriters, if any, and each Holder of Registrable Securities included in such Registration, and each such Holder’s legal
counsel, copies of such Registration Statement as proposed to be filed, each amendment and supplement to such Registration Statement (in
each case including all exhibits thereto and documents incorporated by reference therein), the Prospectus included in such Registration
Statement (including each preliminary Prospectus), and such other documents as the Underwriters and each Holder of Registrable Securities
included in such Registration or the legal counsel for any such Holders may reasonably request in order to facilitate the disposition
of the Registrable Securities owned by such Holders; provided, that the Company shall have no obligation to furnish any documents publicly
filed or furnished with the Commission pursuant to the Electronic Data Gathering Analysis and Retrieval System (“EDGAR”)
and provided further, the Company shall provide each Holder and their legal counsel with a reasonable opportunity to review such
documents and comment thereon, and the Company shall consider in good faith any comments provided by such Holder or their legal counsel;

 

3.1.4          
prior to any public offering of Registrable Securities, use its commercially reasonable efforts to (i) register or qualify
the Registrable Securities covered by the Registration Statement under such securities or “blue sky” laws of such jurisdictions
in the United States as any Holder of Registrable Securities included in such Registration Statement (in light of their intended
plan of distribution) may request (or provide evidence reasonably satisfactory to such Holders that the Registrable Securities are exempt
from such registration or qualification) and (ii) take such action necessary to cause such Registrable Securities covered by the
Registration Statement to be registered with or approved by such other governmental authorities as may be necessary by virtue of the business
and operations of the Company and do any and all other acts and things that may be necessary or advisable to enable the Holders of Registrable
Securities included in such Registration Statement to consummate the disposition of such Registrable Securities in such jurisdictions;
provided, however, that the Company shall not be required to qualify generally to do business in any jurisdiction where
it would not otherwise be required to qualify or take any action to which it would be subject to general service of process or taxation
in any such jurisdiction where it is not then otherwise so subject;

 

3.1.5          
use its commercially reasonable efforts to cause all Registrable Securities included in any Registration to be listed on such exchanges
or otherwise designated for trading in the same manner as similar securities issued by the Company are then listed or designated;

 

3.1.6          
provide a transfer agent or warrant agent, as applicable, and registrar for all such Registrable Securities no later than the effective
date of such Registration Statement;

 

3.1.7          
advise each seller of such Registrable Securities, promptly after it shall receive notice or obtain knowledge thereof, of the issuance
of any stop order by the Commission suspending the effectiveness of such Registration Statement or the initiation or threatening of any
proceeding for such purpose and promptly use its commercially reasonable efforts to prevent the issuance of any stop order or to obtain
its withdrawal if such stop order should be issued;

 

3.1.8          
[reserved]

 

3.1.9          
notify the Holders at any time when a Prospectus relating to such Registration Statement is required to be delivered under the
Securities Act, of the happening of any event as a result of which the Prospectus included in such Registration Statement, as then in
effect, includes a Misstatement, and then to correct such Misstatement as set forth in Section 3.4 hereof;

 

    9

     

    

 

3.1.10       
 in the event of an Underwritten Offering, a Block Trade, or sale by a broker, placement agent or sales agent pursuant to such
Registration, in each of the cases to the extent customary for a transaction of its type, permit a representative of the Holders (such
representative to be selected by a majority of the participating Holders), the Underwriters or other financial institutions facilitating
such Underwritten Offering, Block Trade or other sale pursuant to such Registration, if any, and any attorney, consultant or accountant
retained by such Holders or Underwriters to participate, at each such person’s or entity’s own expense, in the preparation
of the Registration Statement, and cause the Company’s officers, directors and employees to supply all information reasonably requested
by any such representative, Underwriter, financial institution, attorney, consultant or accountant in connection with the Registration;
provided, however, that such representatives, Underwriters or financial institutions enter into a confidentiality agreement,
in form and substance reasonably satisfactory to the Company, prior to the release or disclosure of any such information;

 

3.1.11       
obtain a “comfort” letter from the Company’s independent registered public accountants in the event of an Underwritten
Offering, a Block Trade or sale by a broker, placement agent or sales agent pursuant to such Registration in customary form and covering
such matters of the type customarily covered by “comfort” letters for a transaction of its type as the managing Underwriter
may reasonably request, and reasonably satisfactory to a majority-in-interest of the participating Holders;

 

3.1.12       
in the event of an Underwritten Offering, a Block Trade or sale by a broker, placement agent or sales agent pursuant to such Registration,
on the date the Registrable Securities are delivered for sale pursuant to such Registration, to the extent customary for a transaction
of its type, obtain an opinion, dated such date, of counsel representing the Company for the purposes of such Registration, addressed
to the participating Holders, the broker, placement agents or sales agent, if any, and the Underwriters, if any, covering such legal matters
with respect to the Registration in respect of which such opinion is being given as the participating Holders, broker, placement agents,
sales agent, or Underwriter may reasonably request and as are customarily included in such opinions and negative assurance letters;

 

3.1.13       
in the event of any Underwritten Offering, enter into and perform its obligations under an underwriting agreement, in usual and
customary form, with the managing Underwriter of such offering;

 

3.1.14       
make available to its security holders, as soon as reasonably practicable, an earnings statement covering the period of at least
twelve (12) months beginning with the first day of the Company’s first full calendar quarter after the effective date of the
Registration Statement which satisfies the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder (or any
successor rule then in effect), and which requirement will be deemed to be satisfied if the Company timely files complete and accurate
information on Forms 10-Q, 10-K and 8-K under the Exchange Act and otherwise complies with Rule 158 under the Securities
Act;

 

3.1.15       
if the Registration involves the Registration of Registrable Securities involving gross proceeds in excess of $50,000,000, use
its commercially reasonable efforts to make available senior executives of the Company to participate in customary “road show”
presentations that may be reasonably requested by the Underwriter in such Underwritten Offering; and

 

3.1.16       
otherwise, in good faith, cooperate reasonably with, and take such customary actions as may reasonably be requested by the participating
Holders, consistent with the terms of this Agreement, in connection with such Registration.

 

Notwithstanding the foregoing,
the Company shall not be required to provide any documents or information to an Underwriter, broker, sales agent or placement agent if
such Underwriter, broker, sales agent or placement agent has not then been named with respect to the applicable Underwritten Offering
or other offering involving a registration as an Underwriter, broker, sales agent or placement agent, as applicable.

 

3.2                Registration
Expenses. Except as otherwise provided herein, the Registration Expenses of all Registrations shall be borne by the Company. It
is acknowledged by the Holders that each Holder shall bear, with respect to such Holder’s Registrable Securities being sold,
all incremental selling expenses relating to the sale of Registrable Securities, such as Underwriters’ commissions and
discounts, brokerage fees, Underwriter marketing costs and, other than as set forth in the definition of “Registration
Expenses,” all reasonable fees and expenses of any legal counsel representing the Holders.

 

    10

     

    

 

3.3               
Requirements for Participation in Underwritten Offerings. Notwithstanding anything in this Agreement to the contrary, if
any Holder does not provide the Company with its requested Holder Information (as defined in Section 5.1.2), the Company may exclude
such Holder’s Registrable Securities from the applicable Registration Statement or Prospectus if the Company determines, based on
the advice of counsel, that it is necessary or advisable to include such information in the applicable Registration Statement or Prospectus
and such Holder continues thereafter to withhold such information. In addition, no person or entity may participate in any Underwritten
Offering or other offering for equity securities of the Company pursuant to a Registration initiated by the Company hereunder unless such
person or entity (i) agrees to sell such person’s or entity’s securities on the basis provided in any underwriting arrangements
approved by the Company and (ii) completes and executes all customary questionnaires, powers of attorney, indemnities, lock-up agreements,
underwriting agreements and other customary documents as may be reasonably required under the terms of such underwriting arrangements.
For the avoidance of doubt, the exclusion of a Holder’s Registrable Securities as a result of this Section 3.3 shall not affect
the registration of the other Registrable Securities to be included in such Registration.

 

3.4               
Suspension of Sales; Adverse Disclosure.

 

3.4.1          
Upon receipt of written notice from the Company that a Registration Statement or Prospectus contains a Misstatement, each of the
Holders shall forthwith discontinue disposition of Registrable Securities until it has received copies of a supplemented or amended Prospectus
correcting the Misstatement (it being understood that the Company hereby covenants to prepare and file such supplement or amendment
as soon as reasonably practicable after the time of such notice), or until it is advised in writing by the Company that the use of the
Prospectus may be resumed.

 

3.4.2          
If the filing, initial effectiveness or continued use of a Registration Statement in respect of any Registration at any time would
(a) require the Company to make an Adverse Disclosure, (b) require the inclusion in such Registration Statement of financial
statements that are unavailable to the Company for reasons beyond the Company’s control, or (c) in the good faith judgment
of the majority of the Board such Registration, be seriously detrimental to the Company and the majority of the Board concludes as a result
that it is essential to defer such filing, initial effectiveness or continued use at such time, the Company may, upon giving prompt written
notice of such action to the Holders, delay the filing or initial effectiveness of, or suspend use of, such Registration Statement for
the shortest period of time, but in no event more than ninety (90) consecutive days; or more than one hundred and twenty (120) total calendar
days, in each case, during any 12-month period, determined in good faith by the Company to be necessary for such purpose. In the event
the Company exercises its rights under the preceding sentence, the Holders agree to suspend, immediately upon their receipt of the notice
referred to above, their use of the Prospectus relating to any Registration in connection with any sale or offer to sell Registrable Securities
until such Holder receives written notice from the Company that such sales or offers of Registrable Securities may be resumed, and in
each case maintain the confidentiality of such notice and its contents. The Company shall as promptly as reasonably practicable notify
the Holders of the expiration of any period during which it exercised its rights under this Section 3.4.

 

3.5               
Reporting Obligations. As long as any Holder shall own Registrable Securities, the Company, at all times while it shall
be a reporting company under the Exchange Act, covenants to file timely (or obtain extensions in respect thereof and file within the applicable
grace period) all reports required to be filed by the Company after the date hereof pursuant to Sections 13(a) or 15(d) of the
Exchange Act and to promptly furnish the Holders with true and complete copies of all such filings; provided that any documents publicly
filed or furnished with the Commission pursuant to EDGAR shall be deemed to have been furnished or delivered to the Holders pursuant to
this Section 3.5. The Company further covenants that it shall take such further action as any Holder may reasonably request, all
to the extent required from time to time to enable such Holder to sell shares of Common Stock held by such Holder without registration
under the Securities Act within the limitation of the exemptions provided by Section 4(a)(1) of the Securities Act or Rule 144
promulgated under the Securities Act (or any successor rule then in effect), including providing any legal opinions. Upon the request
of any Holder, the Company shall deliver to such Holder a written certification of a duly authorized officer as to whether it has complied
with such requirements.

 

    11

     

    

 

Article
IV

LOCK-UP

 

4.1               
Lock-up.

 

4.1.1          
Except as permitted by Section 4.2, the Legacy Scilex Equityholder and each Sponsor Equityholder (each, a “Lock-up
Party”) shall not Transfer any shares of Common Stock or any security convertible into or exercisable or exchanged for Common
Stock beneficially owned or owned of record by such Holder (the “Lock-up”) until the date that is the earlier
of (i) one hundred eighty (180) days from the date hereof or (ii) the date on which the Company completes a liquidation,
merger, stock exchange, reorganization or other similar transaction that results in all of the Company’s stockholders having the
right to exchange their shares of Common Stock for cash, securities or other property (the “Lock-up Period”).

 

4.2               
Exceptions. The provisions of Section 4.1 shall not apply to:

 

4.2.1          
transactions relating to shares of Common Stock or warrants acquired in open market transactions;

 

4.2.2          
Transfers of shares of Common Stock or any security convertible into or exercisable or exchangeable for Common Stock as a bona
fide gift or charitable contribution;

 

4.2.3          
Transfers of shares of Common Stock or any security convertible into or exercisable or exchangeable for Common Stock to a trust,
family limited partnership or other entity formed for estate planning purposes for the primary benefit of the spouse, domestic partner,
parent, sibling, child or grandchild of a Holder or any other person with whom a Holder has a relationship by blood, marriage or adoption
not more remote than first cousin and Transfers to any such family member;

 

4.2.4          
Transfers of shares of Common Stock or any security convertible into or exercisable or exchangeable for Common Stock by will or
intestate succession or the laws of descent and distributions upon the death of a Holder (it being understood and agreed that the appointment
of one or more executors, administrators or personal representatives of the estate of a Holder shall not be deemed a Transfer hereunder
to the extent that such executors, administrators and/or personal representatives comply with the terms of this Article IV
on behalf of such estate);

 

4.2.5          
Transfers of shares of Common Stock or any security convertible into or exercisable or exchangeable for Common Stock pursuant to
a qualified domestic order or in connection with a divorce settlement;

 

4.2.6          
if a Holder is a corporation, partnership (whether general, limited or otherwise), limited liability company, trust or other business
entity, (i) Transfers of shares of Common Stock or any security convertible into or exercisable or exchangeable for Common Stock
to another corporation, partnership, limited liability company, trust or other business entity that controls, is controlled by or is under
common control or management with a Holder (including, for the avoidance of doubt, where such Holder is a partnership, to its general
partner or a successor partnership or fund, or any other funds managed by such partnership), or (ii) Transfers of shares of Common
Stock or any security convertible into or exercisable or exchangeable for Common Stock as part of a dividend, distribution, transfer or
other disposition of shares of Common Stock to partners, limited liability company members, direct or indirect stockholders or other equity
holders of a Holder, including, for the avoidance of doubt, where such Holder is a partnership, to its general partner or a successor
partnership, fund or investment vehicle, or any other partnerships, funds or investment vehicles controlled or managed by such partnership;

 

4.2.7          
if the Holder is a trust, Transfers of shares of Common Stock or any security convertible into or exercisable or exchangeable for
Common Stock to a trustor or beneficiary of such trust or to the estate of a beneficiary of such trust;

 

    12

     

    

 

4.2.8          
 Transfers of shares of Common Stock or any security convertible into or exercisable or exchangeable for Common Stock to the Company’s
or the Holder’s officers, directors, members, consultants or their affiliates;

 

4.2.9          
pledges of shares of Common Stock or any security convertible into or exercisable or exchangeable for Common Stock as security
or collateral in connection with any borrowing or the incurrence of any indebtedness by any Holder (provided such borrowing or incurrence
of indebtedness is secured by a portfolio of assets or equity interests issued by multiple issuers);

 

4.2.10       
Transfers of shares of Common Stock or any security convertible into or exercisable or exchangeable for Common Stock pursuant to
a bona fide third-party tender offer, merger, asset acquisition, stock sale, recapitalization, consolidation, business combination
or other transaction or series of related transactions involving a Change in Control of the Company, provided that in the event that such
tender offer, merger, asset acquisition, stock sale, recapitalization, consolidation, business combination or other such transaction is
not completed, the securities subject to this Agreement shall remain subject to this Agreement;

 

4.2.11       
Transfers of shares of Common Stock or any security convertible into or exercisable or exchangeable for Common Stock to the Company
in connection with the liquidation or dissolution of the Company by virtue of the laws of the state of the Company’s organization
and the Company’s organizational documents;

 

4.2.12       
the establishment of a trading plan pursuant to Rule 10b5-1 promulgated under the Exchange Act, provided that such plan does
not provide for the Transfer of any shares of Common Stock or any security convertible into or exercisable or exchangeable for Common
Stock during the Lock-Up Period; and

 

4.2.13       
Transfers of shares of Common Stock or any security convertible into or exercisable or exchangeable for Common Stock to satisfy
any U.S. federal, state, or local income tax obligations of the Lock-up Party (or its direct or indirect owners) arising from a change
in the U.S. Internal Revenue Code of 1986, as amended (the “Code”), or the U.S. Treasury Regulations
promulgated thereunder (the “Regulations”) after the date on which the Merger Agreement was executed by the
parties, and such change prevents the Merger from qualifying as a “reorganization” pursuant to Section 368 of the Code
(and the Merger does not qualify for similar tax-free treatment pursuant to any successor or other provision of the Code or Regulations
taking into account such changes), in each case solely and to the extent necessary to cover any tax liability as a direct result of the
transaction;

 

PROVIDED, THAT IN THE
CASE OF ANY TRANSFER OR DISTRIBUTION PURSUANT TO SECTIONS 4.2.2 THROUGH 4.2.8 AND 4.2.13, EACH DONEE, DISTRIBUTEE OR OTHER TRANSFEREE
SHALL AGREE IN WRITING, IN FORM AND SUBSTANCE REASONABLY SATISFACTORY TO THE COMPANY, TO BE BOUND BY THE PROVISIONS OF THIS AGREEMENT.

 

4.3               
Null and Void. If any Transfer of shares of Common Stock prior to the end of the Lock-up Period is made or attempted contrary
to the provisions of this Agreement, such purported Transfer shall be null and void ab initio, and the Company shall refuse to
recognize any such purported transferee of the Common Stock as one of its equityholders for any purpose.

 

4.4               
Legend. During the Lock-up Period, each certificate evidencing any Common Stock shall be stamped or otherwise imprinted
with a legend in substantially the following form, in addition to any other applicable legends:

 

“THE SECURITIES REPRESENTED
BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON TRANSFER SET FORTH IN AN AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT, DATED
AS OF [•], 2022 (AS MAY BE AMENDED OR RESTATED FROM TIME TO TIME), A COPY OF WHICH
IS ON FILE WITH THE SECRETARY OF THE COMPANY. NO TRANSFER, SALE, ASSIGNMENT, PLEDGE, HYPOTHECATION OR OTHER DISPOSITION OF THE SECURITIES
REPRESENTED BY THIS CERTIFICATE MAY BE MADE EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF SUCH AGREEMENT.”

 

    13

     

    

 

Promptly upon the expiration
of the Lock-up Period, the Company shall use commercially reasonable efforts to cause the removal of such legend and, if determined appropriate
by the Company, any restrictive legend related to compliance with the federal securities laws from the certificates evidencing the Common
Stock.

 

Article
V

INDEMNIFICATION AND CONTRIBUTION

 

5.1               
Indemnification.

 

5.1.1          
The Company agrees to indemnify, to the extent permitted by law, each Holder of Registrable Securities, its officers, directors
and agents and each person or entity who controls such Holder (within the meaning of the Securities Act) against all losses, claims, damages,
liabilities and out-of-pocket expenses (including without limitation actual, reasonable and documented attorneys’ fees) caused by
any untrue or alleged untrue statement of material fact contained or incorporated by reference in any Registration Statement, Prospectus
or preliminary Prospectus or any amendment thereof or supplement thereto or any omission or alleged omission of a material fact required
to be stated therein or necessary to make the statements therein not misleading, except insofar as the same are caused by or contained
in any information or affidavit so furnished in writing to the Company by such Holder expressly for use therein. The Company shall indemnify
the Underwriters, their officers and directors and each person or entity who controls such Underwriters (within the meaning of the Securities
Act) to the same extent as provided in the foregoing with respect to the indemnification of the Holder.

 

5.1.2          
In connection with any Registration Statement in which a Holder of Registrable Securities is participating, such Holder shall furnish
(or cause to be furnished) to the Company in writing such information and affidavits as the Company reasonably requests for use in connection
with any such Registration Statement or Prospectus (the “Holder Information”) and, to the extent permitted by
law, shall indemnify the Company, its directors, officers and agents and each person or entity who controls the Company (within the meaning
of the Securities Act) against any losses, claims, damages, liabilities and out-of-pocket expenses (including without limitation actual,
reasonable and documented attorneys’ fees) resulting from any untrue or alleged untrue statement of material fact contained in any
Registration Statement, Prospectus or preliminary Prospectus or any amendment thereof or supplement thereto or any omission or alleged
omission of a material fact required to be stated therein or necessary to make the statements therein not misleading, but only to the
extent that such untrue statement is contained in (or not contained in, in the case of an omission) the Holder Information; provided,
however, that the obligation to indemnify shall be several, not joint and several, among such Holders of Registrable Securities,
and the liability of each such Holder of Registrable Securities shall be in proportion to and limited to the net proceeds received by
such Holder from the sale of Registrable Securities pursuant to such Registration Statement. The Holders of Registrable Securities shall
indemnify the Underwriters, their officers, directors and each person or entity who controls such Underwriters (within the meaning of
the Securities Act) to the same extent as provided in the foregoing with respect to indemnification of the Company.

 

5.1.3          
Any person or entity entitled to indemnification herein shall (i) give prompt written notice to the indemnifying party of
any claim with respect to which it seeks indemnification (provided that the failure to give prompt notice shall not impair any person’s
or entity’s right to indemnification hereunder to the extent such failure has not materially prejudiced the indemnifying party)
and (ii) unless in such indemnified party’s reasonable judgment a conflict of interest between such indemnified and indemnifying
parties may exist with respect to such claim, permit such indemnifying party to assume the defense of such claim with counsel reasonably
satisfactory to the indemnified party. If such defense is assumed, the indemnifying party shall not be subject to any liability for any
settlement made by the indemnified party without its consent (but such consent shall not be unreasonably withheld). An indemnifying party
who is not entitled to, or elects not to, assume the defense of a claim shall not be obligated to pay the fees and expenses of more than
one (1) counsel for all parties indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment
of any indemnified party a conflict of interest may exist between such indemnified party and any other of such indemnified parties with
respect to such claim. No indemnifying party shall, without the consent of the indemnified party, consent to the entry of any judgment
or enter into any settlement which cannot be settled in all respects by the payment of money (and such money is so paid by the indemnifying
party pursuant to the terms of such settlement) or which settlement includes a statement or admission of fault and culpability on the
part of such indemnified party or which settlement does not include as an unconditional term thereof the giving by the claimant or plaintiff
to such indemnified party of a release from all liability in respect to such claim or litigation.

 

    14

     

    

 

5.1.4          
 The indemnification provided for under this Agreement shall remain in full force and effect regardless of any investigation made
by or on behalf of the indemnified party or any officer, director or controlling person or entity of such indemnified party and shall
survive the transfer of securities. The Company and each Holder of Registrable Securities participating in an offering also agrees to
make such provisions as are reasonably requested by any indemnified party for contribution to such party in the event the Company’s
or such Holder’s indemnification is unavailable for any reason.

 

5.1.5          
If the indemnification provided under Section 5.1 hereof from the indemnifying party is unavailable or insufficient to hold
harmless an indemnified party in respect of any losses, claims, damages, liabilities and out-of-pocket expenses referred to herein, then
the indemnifying party, in lieu of indemnifying the indemnified party, shall contribute to the amount paid or payable by the indemnified
party as a result of such losses, claims, damages, liabilities and out-of-pocket expenses in such proportion as is appropriate to reflect
the relative fault of the indemnifying party and the indemnified party, as well as any other relevant equitable considerations. The relative
fault of the indemnifying party and indemnified party shall be determined by reference to, among other things, whether any action in question,
including any untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact, was made
by (or not made by, in the case of an omission), or relates to information supplied by (or not supplied by, in the case of an omission),
such indemnifying party or indemnified party, and the indemnifying party’s and indemnified party’s relative intent, knowledge,
access to information and opportunity to correct or prevent such action and the benefits received by such indemnified party or indemnifying
party; provided, however, that the liability of any Holder under this Section 5.1.5 shall be limited to the amount
of the net proceeds received by such Holder in such offering giving rise to such liability. The amount paid or payable by a party as a
result of the losses or other liabilities referred to above shall be deemed to include, subject to the limitations set forth in Sections 5.1.1,
5.1.2 and 5.1.3 above, any legal or other fees, charges or out-of-pocket expenses reasonably incurred by such party in connection
with any investigation or proceeding. The parties hereto agree that it would not be just and equitable if contribution pursuant to this
Section 5.1.5 were determined by pro rata allocation or by any other method of allocation, which does not take account of the equitable
considerations referred to in this Section 5.1.5. No person or entity guilty of fraudulent misrepresentation (within the meaning
of Section 11(f) of the Securities Act) shall be entitled to contribution pursuant to this Section 5.1.5 from any person or
entity who was not guilty of such fraudulent misrepresentation.

 

Article
VI

MISCELLANEOUS

 

6.1               
Notices. Any notice hereunder shall be sent in writing, addressed as specified below, and shall be deemed given: (a) if
by hand or recognized courier service, by 4:00PM on a business day, addressee’s day and time, on the date of delivery, and
otherwise on the first business day after such delivery; (b) if by fax or email, on the date that transmission is confirmed electronically,
if by 4:00PM on a business day, addressee’s day and time, and otherwise on the first business day after the date of such confirmation;
or (c) five days after mailing by certified or registered mail, return receipt requested. Notices shall be addressed to the respective
parties as follows, or to such other address as a party shall specify to the others in accordance with this Section 6.1: if to the
Company, to: Scilex Holding Company, 960 San Antonio Road, Palo Alto, CA 94303, Attn: Jaisim Shah, email: jshah@scilexpharma.com,
with a copy to Paul Hastings LLP, 1117 S. California Avenue, Palo Alto, CA 94304, Attn: Jeff Hartlin, Esq.; and, if to any Holder,
at such Holder’s address or contact information as set forth in the Company’s books and records.

 

6.2               
Assignment; No Third Party Beneficiaries.

 

6.2.1          
This Agreement and the rights, duties and obligations of the Company hereunder may not be assigned or delegated by the Company
in whole or in part.

 

6.2.2           Subject
to Section 6.2.4 and Section 6.2.5, this Agreement and the rights, duties and obligations of a Holder hereunder may be
assigned in whole or in part to such Holder’s Permitted Transferees; provided that with respect to the Legacy Scilex
Equityholder and the Sponsor Equityholders, the rights hereunder that are personal to such Holders may not be assigned or delegated
in whole or in part, except that (x) the Legacy Scilex Equityholder shall be permitted to transfer its rights hereunder as a
Legacy Scilex Equityholder to one or more affiliates or any direct or indirect partners, members or equity holders of the Legacy
Scilex Equityholder (it being understood that no such transfer shall reduce any rights of the Legacy Scilex Equityholder or such
transferees), and (y) the Sponsor Equityholders shall be permitted to transfer their rights hereunder as the Sponsor
Equityholders to one or more of their respective affiliates or any direct or indirect partners, members or equity holders of the
Sponsor Equityholders (it being understood that no such transfer shall reduce any rights of the Sponsor Equityholders or such
transferees).

 

    15

     

    

 

6.2.3          
This Agreement and the provisions hereof shall be binding upon and shall inure to the benefit of each of the parties and its successors
and the permitted assigns of the Holders, which shall include Permitted Transferees.

 

6.2.4          
This Agreement shall not confer any rights or benefits on any persons or entities that are not parties hereto, other than as expressly
set forth in this Agreement and Section 6.2 hereof.

 

6.2.5          
No assignment by any party hereto of such party’s rights, duties and obligations hereunder shall be binding upon or obligate
the Company unless and until the Company shall have received (i) written notice of such assignment as provided in Section 6.1
hereof and (ii) the written agreement of the assignee, in a form reasonably satisfactory to the Company, to be bound by the terms
and provisions of this Agreement (which may be accomplished by an addendum or certificate of joinder to this Agreement). Any transfer
or assignment made other than as provided in this Section 6.2 shall be null and void.

 

6.3               
Counterparts; Facsimile Signatures. This Agreement may be executed in counterparts, each of which shall constitute an original,
but all of which shall constitute one agreement. This Agreement shall become effective upon delivery to each party of an executed counterpart
or the earlier delivery to each party of original, photocopied, or electronically transmitted signature pages that together (but need
not individually) bear the signatures of all other parties.

 

6.4               
Governing Law; Venue. This Agreement shall be construed in accordance with and governed by the laws of the State of Delaware,
without giving effect to the conflict of laws principles thereof. Any Action based upon, arising out of or related to this Agreement or
the transactions contemplated hereby must be brought in the Court of Chancery of the State of Delaware (or, to the extent such court does
not have subject matter jurisdiction, the Superior Court of the State of Delaware), or, if it has or can acquire jurisdiction, in the
United States District Court for the District of Delaware, and each of the parties irrevocably (i) submits to the exclusive jurisdiction
of each such court in any such proceeding or Action, (ii) waives any objection it may now or hereafter have to personal jurisdiction,
venue or to convenience of forum, (iii) agrees that all claims in respect of the proceeding or Action shall be heard and determined
only in any such court, and (iv) agrees not to bring any proceeding or Action arising out of or relating to this Agreement or the
transactions contemplated hereby in any other court. Nothing herein contained shall be deemed to affect the right of any party to serve
process in any manner permitted by Law or to commence Proceedings or otherwise proceed against any other party in any other jurisdiction,
in each case, to enforce judgments obtained in any Action brought pursuant to this Section 6.4.

 

6.5               
Waiver of Jury Trial. THE PARTIES TO THIS AGREEMENT HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVE ANY RIGHT EACH SUCH
PARTY MAY HAVE TO TRIAL BY JURY IN ANY ACTION OF ANY KIND OR NATURE, IN ANY COURT IN WHICH AN ACTION MAY BE COMMENCED, ARISING OUT OF
OR IN CONNECTION WITH THIS AGREEMENT OR ANY ADDITIONAL AGREEMENT, OR BY REASON OF ANY OTHER CAUSE OR DISPUTE WHATSOEVER BETWEEN OR AMONG
ANY OF THE PARTIES TO THIS AGREEMENT OF ANY KIND OR NATURE. NO PARTY SHALL BE AWARDED PUNITIVE OR OTHER EXEMPLARY DAMAGES RESPECTING ANY
DISPUTE ARISING UNDER THIS AGREEMENT OR ANY ADDITIONAL AGREEMENT.

 

6.6                Amendments
and Modifications. Upon the written consent of the Company and the Holders of at least a majority in interest of the Registrable
Securities at the time in question, compliance with any of the provisions, covenants and conditions set forth in this Agreement may
be waived, or any of such provisions, covenants or conditions may be amended or modified; provided, however, that
notwithstanding the foregoing, any amendment hereto or waiver hereof that adversely affects one Holder, solely in its capacity as a
holder of the shares of capital stock of the Company, in a manner that is materially different from the other Holders (in such
capacity) shall require the consent of the Holder so affected. No course of dealing between any Holder or the Company and any other
party hereto or any failure or delay on the part of a Holder or the Company in exercising any rights or remedies under this
Agreement shall operate as a waiver of any rights or remedies of any Holder or the Company. No single or partial exercise of any
rights or remedies under this Agreement by a party shall operate as a waiver or preclude the exercise of any other rights or
remedies hereunder or thereunder by such party.

 

    16

     

    

 

6.7               
Other Registration Rights. Other than as provided in the warrant agreement dated as of January 6, 2021 between the Company
and Continental Stock Transfer & Trust Company, the Company represents and warrants that no person or entity, other than a Holder
of Registrable Securities, has any right to require the Company to register any securities of the Company for sale or to include such
securities of the Company in any Registration filed by the Company for the sale of securities for its own account or for the account of
any other person or entity. Further, the Company represents and warrants that this Agreement supersedes any other registration rights
agreement or agreement with similar terms and conditions and in the event of a conflict between any such agreement or agreements and this
Agreement, the terms of this Agreement shall prevail. This Agreement supersedes, and amends and restates in its entirety, the Prior Agreement.

 

6.8               
Term. This Agreement shall terminate upon the earlier of (i) the tenth (10th) anniversary of the date of this
Agreement, (ii) the date as of which all of the Registrable Securities have been sold or disposed of or (iii) with respect to
any particular Holder, on the date such Holder no longer holds Registrable Securities. The provisions of Section 3.5 and Article IV
shall survive any termination.

 

6.9               
Holder Information. Each Holder agrees, if requested in writing, to represent to the Company the total number of Registrable
Securities held by such Holder in order for the Company to make determinations hereunder.

 

6.10            
Severability. A determination by a court or other legal authority that any provision that is not of the essence of this
Agreement is legally invalid shall not affect the validity or enforceability of any other provision hereof. The parties shall cooperate
in good faith to substitute (or cause such court or other legal authority to substitute) for any provision so held to be invalid a valid
provision, as alike in substance to such invalid provision as is lawful.

 

[Signature Page Follows]

 

    17

     

    

 

IN WITNESS WHEREOF, the parties
have caused this Amended and Restated Registration Rights Agreement to be executed and delivered by their duly authorized representatives
as of the date first written above.

 

	COMPANY:	 
	 	 
	SCILEX HOLDING COMPANY	 
	 	 
	By:	             	 
	Name: Jaisim Shah	 
	Title:Chief Executive Officer	 
	 	 
	SPONSOR EQUITYHOLDERS:	 
	 	 
	VICKERS VENTURE FUND VI (PLAN) PTE LTD	 
	 	 
	By:	 	 
	Name:Dr. Finian Tan	 
	Title:Managing Member	 
	 	 
	VICKERS VENTURE FUND VI PTE LTD	 
	 	 
	By:	 	 
	Name: Dr. Finian Tan	 
	Title: Managing Member	 
	 	 
	Pei Wei Woo	 
	 	 
	Suneel Kaji	 
	 	 
	Steve Myint	 
	 	 
	LEGACY SCILEX EQUITYHOLDER:	 
	 	 
	SORRENTO THERAPEUTICS, INC.	 
	 	 
	By:	 	 
	Name: Henry Ji, Ph.D.	 
	Title: President, Chief Executive Officer and Chairman of the Board	 

 

[Signature Page to Registration Rights Agreement]

 

     

     

    

 

SCHEDULE A – SPONSOR EQUITYHOLDERS

Name and Address of Equityholder

 

Vickers Venture Fund VI (Plan) Pte Ltd.

c/o Vickers Vantage Corp. I

1 Harbourfront Avenue, #16-06

Keppel Bay Tower

Singapore 098632, Singapore

 

Vickers Venture Fund VI Pte Ltd.

c/o Vickers Vantage Corp. I

1 Harbourfront Avenue, #16-06

Keppel Bay Tower

Singapore 098632, Singapore

 

Pei Wei Woo

c/o Vickers Vantage Corp. I

1 Harbourfront Avenue, #16-06

Keppel Bay Tower

Singapore 098632, Singapore

 

Suneel Kaji

c/o Vickers Vantage Corp. I

1 Harbourfront Avenue, #16-06

Keppel Bay Tower

Singapore 098632, Singapore

 

Steve Myint

c/o Vickers Vantage Corp. I

1 Harbourfront Avenue, #16-06

Keppel Bay Tower

Singapore 098632, Singapore

 

     

     

    

 

SCHEDULE B – LEGACY SCILEX EQUITYHOLDER

 

Name and Address of Equityholder

 

Sorrento Therapeutics, Inc.

4955 Directors Place

San Diego, CA 92121

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00342-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00342-of-00352.parquet"}]]