Document:

Exhibit 4.2

 

 

NEITHER THIS WARRANT, NOR THE
SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT (COLLECTIVELY, THE "SECURITIES"), HAVE BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR UNDER ANY STATE SECURITIES OR BLUE SKY LAWS. THE
SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE OFFERED, SOLD, PLEDGED, HYPOTHECATED OR
OTHERWISE TRANSFERRED EXCEPT AS PERMITTED UNDER THE SECURITIES ACT AND APPLICABLE STATE SECURITIES OR BLUE SKY LAWS, PURSUANT
TO REGISTRATION OR QUALIFICATION OR EXEMPTION THEREFROM. INVESTORS SHOULD BE AWARE THAT THEY MAY BE REQUIRED TO BEAR THE
FINANCIAL RISKS OF THIS INVESTMENT FOR AN INDEFINITE PERIOD OF TIME. THE ISSUER OF THE SECURITIES MAY REQUIRE AN OPINION OF
COUNSEL IN FORM AND SUBSTANCE REASONABLY SATISFACTORY TO THE ISSUER TO THE EFFECT THAT ANY PROPOSED TRANSFER IS IN COMPLIANCE
WITH THE SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES OR BLUE SKY LAWS.

ACCELR8 TECHNOLOGY CORPORATION 

WARRANT

	Warrant No. Abeja-2 	 Date of Issuance:
June 26, 20 12

Accelr8
Technology Corporation, a Colorado corporation (the "Company"), hereby certifies that, for value received, Abeja
Ventures, LLC, a Delaware limited liability company, or its registered assign (the "Holder"), is entitled to
purchase from the Company 7,000,000 shares (as adjusted from time to time as provided in Section I I) of common stock, no par
value per share, of the Company (the "Common Stock") (each such share, a "Warrant Share" and all such
shares, the "Warrant Shares"), at an exercise price determined pursuant to Section 3 (the "Exercise Price"),
at any time and from time to time from and after the date hereof through and including the date that is five (5) years following
the date of issuance set forth above (the "Expiration Date"), and subject to the following terms and conditions:

1.
Purchase Agreement. This Warrant is one of two Warrants (collectively, the "Warrants") issued by the Company
in connection with that certain Securities Purchase Agreement, entered into on April 20, 2012 (the "Purchase Agreement"),
by and among the Company and Holder, and is subject to, and the Company and the Holder shall be bound by, all the applicable terms,
conditions and provisions of the Purchase Agreement.

2. Definitions.
In addition to the terms defined elsewhere in this Warrant, capitalized terms that are not otherwise defined herein shall have
the meanings assigned to such terms in the Purchase Agreement. 

 

3.  Exercise
Price. This Warrant may be exercised for a price per Warrant Share equal to $2.00, subject to adjustment from time to time
pursuant to Section 11.

 

4. Registration
of Warrant. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose (the "Warrant
Register"), in the name of the record Holder hereof from time to time. The Company may deem and treat the Holder of this
Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and for all other
purposes, absent actual notice to the contrary. 

 

5. Registration
of Transfers. Subject to the Holder's appropriate compliance with the restrictive legend on this Warrant, the Company shall
register the transfer of any portion of this Warrant in the Warrant Register, upon surrender of this Warrant, with the
Form of Assignment substantially in the form attached hereto as Attachment B duly completed and signed, to the Company at its
address specified herein. Upon any such registration or transfer, a new Warrant to purchase Common Stock, in substantially the
form of this Warrant (any such new Warrant, a "New Warrant"), evidencing the portion of this Warrant so transferred
shall be issued to the transferee and a New Warrant evidencing the remaining portion of this Warrant not so transferred, if any,
shall be issued to the transferring Holder. The acceptance of the New Warrant by the transferee thereof shall be deemed the acceptance
by such transferee of all of the rights and obligations of a holder of a Warrant.

 

 

 

 

     

     

    

6.
Exercise and Duration of Warrants. This Warrant shall be exercisable by the registered Holder at any time and from time
to time on or after the date hereof to and including the Expiration Date. At 6:30 p.m., New York City time, on the Expiration
Date, the portion of this Warrant not exercised prior thereto shall be and become void and of no value. The Company may not call
or redeem all or any portion of this Warrant without the prior written consent of the Holder.

7.
Delivery of Warrant Shares.

(a)
To effect conversions hereunder, the Holder shall not be required to physically surrender this Warrant unless the aggregate number
of Warrant Shares represented by this Warrant is being exercised. Upon delivery of an Exercise Notice substantially in the form
attached hereto as Attachment A (an "Exercise Notice") to the Company at its address for notice determined
as set forth herein, and upon payment of the applicable Exercise Price multiplied by the number of Warrant Shares that the Holder
intends to purchase hereunder, the Company shall promptly (but in no event later than five (5) trading days after the Date of
Exercise (as defined below)) issue and deliver, or cause its transfer agent to issue and deliver, to the Holder a certificate
for the Warrant Shares issuable upon such exercise registered in the name of the Holder or its designee. A "Date of Exercise"
means the date on which the Holder shall have delivered to the Company: (i) an Exercise Notice, appropriately completed and duly
signed, and (ii) payment of the Exercise Price (by certified or official bank check, intra-bank account transfer or wire transfer)
for the number of Warrant Shares so indicated by the Holder to be purchased.

 

(b)
If by the fifth trading day after a Date of Exercise the Company fails to deliver the required number of Warrant Shares in the
manner required pursuant to Section 7(a), the Holder will have the right to rescind such exercise.

 

(c) The Company's obligations to issue and deliver
Warrant Shares in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by
the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment
against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or
any breach or alleged breach by the Holder or any other Person of any obligation to the Company or any violation or alleged
violation of law by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit
such obligation of the Company to the Holder in connection with the issuance of Warrant Shares. Nothing herein shall limit a
Holder's right to pursue any other remedies available to it hereunder, at law or in equity, including a decree of specific
performance and/or injunctive relief with respect to the Company's failure to timely deliver certificates representing shares
of Common Stock upon exercise of the Warrant as required pursuant to the terms hereof.

 

8. Charges, Taxes and Expenses.
Issuance and delivery of certificated or uncertificated shares of Common Stock upon exercise of this Warrant shall be made
without charge to the Holder for any issue or transfer tax, withholding tax, transfer agent fee, or other incidental tax or
expense in respect of the issuance of such shares, all of which taxes and expenses shall be paid by the Company; provided,
however, that the Company shall not be required to pay any tax which may be payable in respect of any transfer involved in
the registration of any certificates for Warrant Shares or Warrants in a name other than that of the Holder. The Holder shall
be responsible for all other tax liability that may arise as a result of holding or transferring this Warrant or receiving
Warrant Shares upon exercise hereof.

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9. Replacement
of Warrant. If this Warrant is mutilated, lost, stolen or destroyed, the Company shall issue or cause to be issued in exchange
and substitution for and upon cancellation hereof, or in lieu of and substitution for this Warrant, a new Warrant, but only upon
receipt of evidence reasonably satisfactory to the Company of such loss, theft or destruction and customary and reasonable indemnity
(which shall not include a surety bond), if requested. Applicants for a new warrant under such circumstances shall also comply
with such other reasonable regulations and procedures and pay such other reasonable third-party costs as the Company may prescribe.
If a new warrant is requested as a result of a mutilation of this Warrant, then the Holder shall deliver this mutilated Warrant
to the Company as a condition precedent to the Company's obligation to issue the new warrant. 

 

10.
Reservation of Warrant Shares. The Company covenants that it will at all times reserve and keep available out of the aggregate
of its authorized but unissued and otherwise unreserved Common Stock, solely for the purpose of enabling it to issue Warrant Shares
upon exercise of this Warrant as herein provided, the number of Warrant Shares which are then issuable and deliverable upon the
exercise of this entire Warrant, free from Liens or any other contingent purchase rights of persons other than the Holder (taking
into account the adjustments and restrictions of Section 11). The Company covenants and warrants that all Warrant Shares so issuable
and deliverable shall, upon issuance and the payment of the applicable Exercise Price in accordance with the terms hereof, be
duly and validly authorized, issued and fully paid and non-assessable.

 

11.
Certain Adjustments. The number of Warrant Shares issuable upon exercise of this Warrant is subject to adjustment from
time to time as set forth in this Section 11. 

 

(a)
Stock Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (i)
pays a stock dividend or otherwise makes a distribution or distributions on shares of its
Common Stock or any other equity or equity equivalent securities payable in shares of Common Stock (which, for avoidance of doubt,
shall not include any shares of Common Stock issued by the Company upon exercise of any Warrants), (ii) subdivides outstanding
shares of Common Stock into a larger number of shares, (iii) combines (including by way of reverse stock split) outstanding shares
of Common Stock into a smaller number of shares, or (iv) issues by reclassification of shares of Common Stock any shares of capital
stock of the Company; then in each such case (A) the Exercise Price will be adjusted by multiplying the Exercise Price then in
effect by a fraction, the numerator of which equals the number of shares of Common Stock outstanding immediately prior to such
event (excluding treasury shares, if any), and the denominator of which equals the number of shares of Common Stock outstanding
immediately after such event, and (B) the number of Warrant Shares issuable hereunder shall be concurrently adjusted by multiplying
such number by the reciprocal of such fraction. Such adjustments will take effect (i) if a record date shall have been fixed for
determining the stockholders or security holders, as applicable, of the Company entitled to receive such dividend, distribution
or issuance by reclassification, as the case may be, immediately after such record date, (ii) otherwise, immediately after the
effective date of such dividend, distribution, subdivision, combination, or issuance by reclassification, as the case may be.

 

(b) Fundamental Transaction. If, at any time while
this Warrant is outstanding, (i) the Company, directly or indirectly, in one or a
series of related transactions, (A) effects any merger or consolidation of the Company with or into another Person, (B)
effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially all of its
assets, (C) effects any reclassification, reorganization or recapitalization of the Common Stock or any compulsory share

 

 

 

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exchange pursuant to which the Common
Stock is effectively converted into or exchanged for other securities, cash or property (except for issuances by reclassification
contemplated by Section Il(a)(iv)) or (D) consummates a stock or share purchase agreement or other business combination (including
a reorganization, recapitalization, spin-off or scheme of arrangement) with another Person or group of Persons whereby such other
Person or group acquires more than fifty percent (50%) of the outstanding shares of Common Stock (not including any shares of
Common Stock held by the other Person or group making or party to, or associated or affiliated with the other Persons making or
party to, such stock or share purchase agreement or other business combination), or (ii) any, direct or indirect, purchase offer,
tender offer or exchange offer (whether by the Company or another Person or group of Persons) is completed pursuant to which holders
of Common Stock are permitted to sell, tender or exchange their shares for other securities, cash or property (each transaction
or series of transactions referred to in clause (i) or (ii) above, a "Fundamental Transaction"); then, upon any subsequent
exercise of this Warrant, the Holder shall have the right to receive, for each Warrant Share that would have been issuable upon
such exercise immediately prior to the occurrence of such Fundamental Transaction, (1) the number of shares of common stock of
the successor or acquiring corporation or, if it is the surviving corporation, of the Company, and (2) any additional consideration
(the "Alternate Consideration") receivable as a result of such Fundamental Transaction by a holder of the number of
shares of Common Stock fqr which this Warrant is exercisable
immediately prior to such Fundamental Transaction. For purposes of any such exercise, the determination of the Exercise Price
shall be appropriately adjusted to apply to such Alternate Consideration based on the amount and components of Alternate Consideration
issuable in respect of one share of Common Stock in such Fundamental Transaction, and the Board shall apportion the Exercise Price
among the Alternate Consideration in a reasonable manner reflecting the relative value of any different components of the Alternate
Consideration (substituting the most appropriate market-based measure for the Trading Market in determining the daily VWAP from
time to time for each component of the Alternate Consideration or, if no market-based measure is reasonably available for any
such component, fixing the daily VWAP of such component at the value determined by such apportionment, but subject to further
adjustment as provided in this Section 11). If holders of Common Stock are given any choice as to the securities, cash
or property to be received in a Fundamental Transaction, then the Holder shall be given the same choice as to the Alternate Consideration
it receives upon any exercise of this Warrant following such Fundamental Transaction. To the extent necessary to effectuate the
foregoing provisions, any successor to the Company or surviving entity in such Fundamental Transaction shall issue to the Holder
a new warrant of like tenor to this Warrant but adjusted to be consistent with the foregoing provisions and evidencing the Holder's
right to exercise such warrant for the appropriate number of shares of capital stock and Alternate Consideration, if any, in exchange
for this Warrant. The Company shall ensure that the terms of any agreement pursuant to which a Fundamental Transaction is effected
shall include terms requiring any such successor or surviving entity to comply with the provisions of this Section 11(b)
and ensuring that this Warrant (or any such replacement security) will be similarly adjusted upon any subsequent transaction or
series of related transactions analogous to a Fundamental Transaction. "VWAP" means, for any date, the price
determined by the first of the following clauses that applies: (A) if the Common Stock is then listed or quoted on a trading market,
the daily volume weighted average price of the Common Stock for such date (or the nearest preceding date) on the principal trading
market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on a trading day from 9:30 a.m.
(New York City time) to 4:02 p.m. (New York City time)), (B) if prices for the Common Stock are then reported in the
"Pink Sheets" published by Pink OTC Markets, Inc. (or a similar organization or agency succeeding to its functions of
reporting prices), the most recent bid price per share of the Common Stock so reported during trading hours, or (C) in all other
cases, the fair market value of a share of Common Stock as determined by an independent appraiser selected in good faith by the
Company's Board of Directors and reasonably acceptable to the Holder, the fees and expenses of which shall be paid by the Company.

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(c) Payment of Exercise
Price. The Holder may pay the Exercise Price by certified or official bank check, by intra-bank account transfer or by wire
transfer of same-day funds.

12. No
Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise of this Warrant. In lieu
of any fractional shares which would otherwise be issuable, the Company shall pay the Holder an amount of cash equal to the
product of such fraction multiplied by the closing price of one share of Common Stock as reported on the principal trading
market for the Common Stock on the Date of Exercise.

 

13.  Notices.
Any and all notices or other communications or deliveries hereunder (including any Exercise Notice) shall be in writing and shall
be deemed given and effective on the earliest of (i) the date of transmission, if such notice or communication is delivered via
facsimile at the facsimile number pursuant to this Section 13 prior to 6:30 p.m. (New York City time) on a trading day, (ii) the
next trading day after the date of transmission, if such notice or communication is delivered via facsimile at the facsimile number
specified pursuant to this Section 13 on a day that is not a trading day or later than 6:30 p.m. (New York City time) on
any trading day, (iii) the trading day following the date of mailing, if sent by nationally recognized overnight courier service
to the street address specified pursuant to this Section 13, or (iv) upon actual receipt by the party to whom such notice is required
to be given. The addresses for such communications shall be as follows:

  

	(a)	if to the Company, to
	 	 
	 	Accelr8 Technology Corporation
	 	 7000 North
Broadway, Building 3-307

	 	Denver, Colorado 80221
	 	Attn: Chief Executive Officer 
	 	Facsimile: (303) 863-1218
	 	 
	 	with a copy to (which shall not constitute
notice to the Company):
	 	 
	 	Schlueter & Associates, P.C.
	 	1050
17th Street, Suite 1750 
	 	Attn: Henry Schlueter, Esq. and David Stefanski, Esq.
	 	Facsimile: (303) 296-8880
	 	 

(b) if to the Holder, to the address,
facsimile number or email or street address appearing on the Warrant Register (which shall initially be the facsimile number and
email and street address set forth for the initial Holder in the Purchase Agreement);

or to such other address, facsimile
number or email address as the Company or the Holder may provide to the other in accordance with this Section 13.

14. Warrant Agent. The Company shall
serve as warrant agent under this Warrant. Upon thirty (30) days notice to the Holder, the Company may appoint a new warrant agent.
Any corporation into which the Company or any new warrant agent may be merged or any corporation resulting from any consolidation
to which the Company or any new warrant agent shall be a party or any corporation to which the Company or any new warrant agent
transfers substantially all of its corporate trust or stockholders services business shall be a successor warrant agent under
this Warrant without any further act. Any such successor warrant agent shall promptly cause notice of its succession as warrant
agent to be mailed (by first class mail, postage
prepaid) to the Holder at the Holder's last address as shown on the Warrant Register.

 

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15.
Miscellaneous.

(a)
Assignment. Subject to the restrictions on transfer described herein, the rights and obligations of the Company and the
Holder shall be binding upon, and inure to the benefit of, the successors, assigns, heirs, administrators and transferees of the
parties. The Company shall not have the right directly or indirectly to assign or transfer this Warrant without the prior written
consent of the Holder, which may be withheld in the Holder's sole discretion, or as part of a Fundamental Transaction.

 

(b)
No Third Party Beneficiaries. Nothing in this Warrant shall be construed to give to any Person other than the Company and
the Holder any legal or equitable right, remedy or cause of action under this Warrant.

 

(c)
Amendments; Waiver. This Warrant may be amended only in writing signed by the Company and the Holder, and any amendment
so effected shall amend each Warrant issued pursuant to the Purchase Agreement and be binding upon each holder of such Warrants
(provided, however, that any such amendment that adversely affects any holder or class of holders of such Warrants in a manner
that does not apply uniformly to all holders of such Warrants, as applicable, shall require the written consent of such adversely
affected holders or class). Any provision of this Warrant may be waived, but only if in writing by the party against whom enforcement
of any such waiver is sought. No waiver of any default with respect to any provision, condition or requirement of this Warrant
shall be deemed to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision,
condition or requirement hereof, nor shall any delay or omission of either party to exercise any right hereunder in any manner
impair the exercise of any such right.

 

(d)
Governing Law. This Warrant shall be governed by and construed in accordance with the laws of the State of Colorado, without
regard to principles of conflict of laws.

 

(e) Severability. If one or more provisions of this
Warrant are held to be unenforceable under applicable law in any respect, such provision shall be excluded from this Warrant
and the balance of this Warrant shall be construed and interpreted as if such provision were so excluded and shall be
enforceable in accordance with its remaining terms.

 

[Remainder of Page
Intentionally Left Blank; Signature Page Follows] 

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IN
WTINESS WHEREOF, the Company has caused this Warrant to be duly executed by its
authorized officer as ofthe date fIrst indicated above.  

	 	ACCELR8 TECHNOLOGY CORPORATION
	 	a Colorado corporation
	 	 
	 	By: /s/ Thomas Geimer
	 	Name: Thomas Geimer
	 	Its” Chief Executive Officer

 

 

(Signature Page - Warrant No. Abeja-2)

 

 

 

     

     

    
 

ATTACHMENT A

EXERCISE NOTICE

To Accelr8 Technology Corporation:

The
undersigned hereby irrevocably elects to purchase shares (the "Shares") of common stock, no par value per share
("Common Stock"), of Accelr8 Technology Corporation, a Colorado corporation, pursuant to Warrant No. __, originally
issued on , 2012 (the "Warrant"). The undersigned elects to utilize the following manner of exercise:

	Shares:	 	 	 
	 	_____________	 	Full Exercise of Warrants
	 	_____________	 	Partial Exercise of Warrants (in the amount of __________ Shares)
	 	 	 	 
	Exercise Price: $_____________ 	 
	 	 	 	 
	Manner of Exercise:	 
	 	 	 	Certified of Official Bank Check
	 	 	 	Intra-Bank Account Transfer
	 	 	 	Wire Transfer

 

[Please
issue a new Warrant for the unexercised portion of the attached Warrant in the name of the [undersigned]/[the undersigned's nominee
as is specified below].]

 

	Date:	 
	 	 
	Full Name of Holder*:	 
	 	 
	Signature of Holder or Authorized Representative:	 
	 	 
	Name and Title of Authorized Representative†:	 
	 	 
	Additional Signature of Holder (if jointly held):	 
	 	 
	Social Security or Tax Identification Number:	 
	 	 
	Address of Holder:	 
	 	 
	 	 
	 	 
	Full Name of Nominee of Holder†:	 
	 	 
	Address of Nominee of Holder†:	 
	 	 

 

* Must conform in all respects to
name of holder as specified on the face of the Warrant.

† If applicable. 

 

 

     

     

    

ATTACHMENT B

FORM OF ASSIGNMENT

[To be completed and signed only upon
transfer of Warrant] 

FOR VALUE RECEIVED, the undersigned hereby
sells, assigns and transfers untothe right represented by the attached
Warrant to purchase _____ shares of Common Stock of Accelr8 Technology Corporation, a Colorado corporation (the "Company"),
to which the Warrant relates and appoints as attorney to transfer said right on the books of the Company with full power of substitution
in the premises.

	Date:	 
	 	 
	Full Name of Holder*:	 
	 	 
	Signature of Holder or Authorized Representative:	 
	 	 
	Name and Title of Authorized Representative†:	 
	 	 
	Additional Signature of Holder (if jointly held):	 
	 	 
	Social Security or Tax Identification Number:	 
	 	 
	Address of Holder:	 
	 	 
	 	 
	 	 
	Full Name of Transferee:	 
	 	 
	Address of Transferee:	 
	 	 

 

In the presence of:

______________________________________________

 

* Must conform in all respects to
name of holder as specified on the face of the Warrant.

†
If applicable.Exhibit 10.5 

 

 

REGISTRATION RIGHTS
AGREEMENT

 

THIS REGISTRATION RIGHTS
AGREEMENT (this "Agreement") is made and entered into as of June 26, 2012, by and among Accelr8 Technology Corporation,
a Colorado corporation (the "Company"), and Abeja Ventures, LLC, a Delaware limited liability company (the "Purchaser").

 

RECITALS

 

WHEREAS, the Company and
the Purchaser are parties to a Securities Purchase Agreement, dated as of April 20, 2012 (the "Purchase Agreement'),
pursuant to which the Purchaser is purchasing 14,000,000 shares of common stock, no par value per share ("Common Stock"),
of the Company; and

 

WHEREAS, in connection
with the consummation of the transactions contemplated by the Purchase Agreement, and pursuant to the terms of the Purchase Agreement,
the parties desire to enter into this Agreement in order to grant certain registration rights to the Purchaser as set forth below.

 

AGREEMENT

 

NOW, THEREFORE, IN CONSIDERATION
of the mutual covenants contained in this Agreement, and for other good and valuable consideration, the receipt and adequacy of
which are hereby acknowledged, the Company and the Purchaser, intending to be legally bound, hereby agree as follows:

 

1. Definitions.
Capitalized terms used and not otherwise defined herein that are defined in the Purchase Agreement shall have the meanings assigned
to such terms in the Purchase Agreement. For all purposes of this Agreement, the following terms shall have the meanings set forth
below:

 

"Commission"
means the United States Securities and Exchange Commission.

 

"Effective Date"
means the date that the Registration Statement is first declared effective by the Commission.

 

"Effectiveness
Date" means the earlier of (a) the 90th day following the Request Date, and (b) the fifth Trading Day following the date
on which the Company is notified by the Commission that the Registration Statement will not be reviewed or is no longer subject
to further review and comments.

 

"Effectiveness
Period" means the period from the Effective Date until the Termination Date.

 

"Filing Date"
means the 30th day following the Request Date; provided, however, that this date may be tolled for as long as any Holder of Registrable
Securities whose Registrable Securities are to be included in the registration statement has failed to provide the Company with
reasonably and customarily requested information.

 

"Holder"
means a holder from time to time of Registrable Securities.

 

"Necessary Holders"
means, at any time of determination, any combination of Holders then holding a majority of the outstanding Registrable Securities
that were originally purchased pursuant to the Purchase Agreement.

 

"Original Purchaser"
means with respect to the Securities held by any Holder, the Purchaser (which may be the Holder) which purchased the Shares held
by such Holder from the Company on the Closing Date.

 

 

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"Prospectus"
means the prospectus included in a Registration Statement (including a prospectus that includes any information previously omitted
from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A promulgated by the Commission
under the Securities Act), as amended or supplemented by any prospectus supplement, with respect to the terms of the offering of
any portion of the Registrable Securities covered by the Registration Statement, and all other amendments and supplements to the
Prospectus, including post-effective amendments, and all material incorporated by reference or deemed to be incorporated by reference
in such Prospectus.

 

"Registrable Securities"
means (i) the Securities, (ii) all shares of Common Stock held or beneficially owned by Thomas V. Geimer as of the date hereof
(including shares of Common Stock underlying the Accelr8 Technology Corporation Deferred Compensation Plan Trust Agreement dated
May 15, 1996), (iii) all shares of Common Stock (including shares of Common Stock issuable pursuant to warrants) that were not
sold pursuant to the Purchase Agreement but that have attendant registration rights as of the date of the Purchase Agreement and
for which disclosure has been publicly made in the Company's filings with the Commission, and (iii) any shares of Common Stock
or other securities issued upon any stock split or similar event in respect of, or as a dividend or other distribution upon, any
of the foregoing Securities, until such time as such securities (1) have been sold to the public pursuant to a registration statement
or other means such that they are no longer "restricted securities" under the Securities Act, or (2) have become Rule
415 Cutback Securities.

 

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

 

"Request Date"
means the date one or more Holders holding in the aggregate not less than 25% of all Registrable Securities requests the Company
in writing to register any of its Registrable Securities pursuant to this Agreement; provided that such Holders may make a demand
for such registration under this Agreement more than three times.

 

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

 

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

 

"Special Counsel"
means such attorney or law firm as shall be designated by one or more Holders holding no less than a majority of the outstanding
Registrable Securities. If no Special Counsel is designated, then the obligations of the Company associated with Special Counsel
shall not apply.

 

"Termination Date"
means the earlier to occur of (I) the date which is five years after the date that the Registration Statement is declared effective
by the Commission, and (ii) the date when all Registrable Securities which are (or pursuant to Section 2(a) may be) covered by
the Registration Statement have been sold or may be sold by all Holders without volume or manner of sale limitations pursuant to
Rule 144, as determined by the counsel to the Company; provided that if requested by the Company's transfer agent, such determination
shall be made, at the Company's expense, pursuant to a written opinion letter to such effect, addressed and acceptable to such
transfer agent.

 

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2. Registration.

 

(a) Filing of Registration
Statement. On or prior to the Filing Date, the Company shall prepare and file with the Commission a registration statement
covering the resale of all Registrable Securities not already covered by an existing and effective Registration Statement for an
offering to be made on a continuous basis pursuant to Rule 415. The Registration Statement shall be on Form S-3 (except if the
Company is not then eligible to register the Registrable Securities on Form S-3 for resale, in which case such registration shall
be on another appropriate form in accordance herewith) and shall contain (except if otherwise agreed by the Holders) the "Plan
of Distribution" attached hereto as Appendix A. The Company shall cause the Registration Statement to be declared effective
under the Securities Act as soon as possible but, in any event, not later than the Effectiveness Date, and shall use its best efforts
to keep the Registration Statement continuously effective under the Securities Act until the Termination Date. The Company shall
not be obligated to enter into any underwriting agreement for the sale of any of the Registrable Securities.

 

(b) Cutback Securities.
Notwithstanding the provisions of this Section 2, if (i) after the Effective Date, the Registration Statement ceases to
be effective and available to the Holders as to all of the Registrable Securities (whether upon the delivery of a notice pursuant
to Section 6(d) or otherwise) at any time prior to the Termination Date without becoming available to the Holders as to
all of the Registrable Securities within 20 Trading Days pursuant to the delivery of an Advice, or (ii) at the time of effectiveness
of the Registration Statement, such Registration Statement is not available to the Holders as to all of the Registrable Securities;
in either case, caused by the assertion by the Commission that the number of shares proposed to be registered under the Registration
Statement constitutes an offering by or on behalf of the Company not at a fixed price, the Company shall use its best efforts
to register the maximum number of shares permissible by the Commission to retain the status of the offering as a secondary offering
under Rule 415. In reducing the number of shares to be registered under the Registration Statement, the Company shall omit Registrable
Securities (such omitted Registrable Securities, the "Rule 415 Cutback Securities") pro rata per Holder
based on the number of Shares held by the respective Holders. Except as provided in the sentence next preceding, the Company shall
not be liable to any Holder for any damages in respect of its failure to register Rule 415 Cutback Securities for resale under
the Securities Act or any state securities or "blue sky" laws.

 

(c) Registration Statement
Questionnaire. In connection with a registration request made by a Holder pursuant to Section 2(a) and from time to
time thereafter, the Company may require a selling Holder to furnish to the Company a Registration Statement Questionnaire in
form and substance reasonably acceptable to the Company based on information required by the Commission. Each Holder shall furnish
the information required in a Registration Statement Questionnaire within five Trading Days of the Company's request.

 

(d) Piggy-Back Registrations.
If at any time prior to the Termination Date an effective Registration Statement is not available for the resale of all Registrable
Securities, and the Company determines to prepare and file with the Commission a registration statement under the Securities Act
relating to an offering for its own account or the account of others of any of its equity securities, other than on Form S-4 or
Form S-8 (each as promulgated under the Securities Act) or their then equivalents relating to equity securities to be issued solely
in connection with any acquisition of any entity or business or equity securities issuable in connection with stock option or other
employee benefit plans, then the Company shall send to each Holder written notice of such determination and, if within 15 days
after the date of such notice, any such Holder shall so request in writing, the Company shall include in such registration statement
all or any part of the Registrable Securities such Holder requests to be registered, subject to customary underwriter cutbacks
applicable to all holders of registration rights.

 

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3. Registration Procedures.
In connection with the Company's registration obligations hereunder, the Company shall:

 

(a) Holder Review.
Not less than two Trading Days prior to the filing of the Registration Statement or any related Prospectus or any amendment or
supplement thereto (other than a supplement which attaches a previously filed SEC Report), the Company shall furnish to the Holders
and the Special Counsel (if any has been designated) copies of all such documents proposed to be filed, which documents will be
subject to the review of such Holders and such Special Counsel. The Company shall not file the Registration Statement or any such
Prospectus or any amendments or supplements thereto to which the Holders of a majority of the Registrable Securities or the Special
Counsel shall reasonably object in good faith.

 

(b) Filing; Compliance.
(i) Prepare and file with the Commission such amendments, including post-effective amendments, to the Registration Statement and
the Prospectus used in connection therewith as may be necessary to keep the Registration Statement continuously effective as to
the applicable Registrable Securities for the Effectiveness Period and prepare and file with the Commission such additional Registration
Statements in order to register for resale under the Securities Act all of the Registrable Securities; (ii) cause the related
Prospectus to be amended or supplemented by any required Prospectus supplement, and as so supplemented or amended to be filed
pursuant to Rule 424; (iii) respond as promptly as reasonably practicable, and in any event within 15 days, to any comments received
from the Commission with respect to the Registration Statement or any amendment thereto and, as promptly as reasonably practicable
provide the Holders true and complete copies of all correspondence from and to the Commission relating to the Registration Statement
(except, with respect to any Holder who does not waive this parenthetical, to the extent such correspondence would disclose material
non-public information to a Holder); and (iv) comply in all material respects with the provisions of the Securities Act and the
Exchange Act with respect to the disposition of all Registrable Securities covered by the Registration Statement during the applicable
period in accordance with the intended methods of disposition by the Holders thereof set forth in the Registration Statement as
so amended or in such Prospectus as so supplemented. Notwithstanding the foregoing, the Company shall not be in breach of its
obligations under this Section in the event the delay or inability in filing with the Commission is due to the failure of any
Holder of Registrable Securities whose Registrable Securities are to be included in a filing to respond or provide information
that is requested in a reasonable and customary fashion.

 

(c) Notices. Notify
the Holders of Registrable Securities to be sold and the Special Counsel as promptly as reasonably possible (and, in the case
of clause (i)(A) next below, not less than three Trading Days prior to such filing) and (if requested by any such Person) confirm
such notice in writing no later than two Trading Days following the day (i)(A) when a Prospectus or any Prospectus supplement
(other than a supplement which attaches a previously filed SEC Report) or post-effective amendment to the Registration Statement
is proposed to be filed; (B) when the Commission notifies the Company whether there will be a "review" of such Registration
Statement and whenever the Commission comments in writing on such Registration Statement (the Company shall provide true and complete
copies thereof and all written responses thereto to each of the Holders, except, with respect to any Holder who does not waive
this parenthetical, to the extent such correspondence would disclose material nonpublic information); and (C) with respect to
the Registration Statement or any post-effective amendment, when the same has become effective; (ii) of any request by the Commission
or any other Governmental Authority during the period of effectiveness of the Registration Statement for amendments or supplements
to the Registration Statement or Prospectus or for additional information; (iii) of the issuance by the Commission of any stop
order suspending the effectiveness of the Registration Statement covering any or all of the Registrable Securities or the initiation
of any Proceedings for that purpose; (iv) of the receipt by the Company of any notification with respect to the suspension of
the qualification or exemption from qualification of any of the Registrable Securities for sale in any jurisdiction, or the initiation
or threatening of any Proceeding for such purpose; and (v) of the occurrence of any event or passage of time that makes the financial
statements included in the Registration Statement ineligible for inclusion therein or any statement made in the Registration Statement
or Prospectus or any document incorporated or deemed to be incorporated therein by reference untrue in any material respect or
that requires any revisions to the Registration Statement, Prospectus or other documents so that, in the case of the Registration
Statement or the Prospectus, as the case may be, it will not contain any untrue statement of a material fact or omit to state
any material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under
which they were made, not misleading.

 

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(d) Stop Orders.
Use its reasonable best efforts to avoid the issuance of, or, if issued, obtain the withdrawal as promptly as reasonably practicable
of, (i) any order suspending the effectiveness of the Registration Statement, or (ii) any suspension of the qualification (or
exemption from qualification) of any of the Registrable Securities for sale in any jurisdiction.

 

(e) Copy of Registration
Statement. Furnish to each Holder, without charge, at least one conformed copy of each Registration Statement and each amendment
thereto, including financial statements and schedules, all documents incorporated or deemed to be incorporated therein by reference,
and all exhibits to the extent requested by such Person (including those previously furnished or incorporated by reference) promptly
after the filing of such documents with the Commission.

 

(f) Copies of Prospectus.
Promptly deliver to each Holder, without charge, as many copies of the Prospectus or Prospectuses (including each form of prospectus)
and each amendment or supplement thereto as such Persons may reasonably request. The Company hereby consents to the use of such
Prospectus and each amendment or supplement thereto by each of the selling Holders in connection with the offering and sale of
the Registrable Securities covered by such Prospectus and any amendment or supplement thereto, except after the giving of any
notice pursuant to Section 1(c) to discontinue disposition of Registrable Securities pursuant to the Registration Statement.

 

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

 

(h) Share Certificates.
Cooperate with the Holders to facilitate the timely preparation and delivery of certificates representing Registrable Securities
to be delivered to a transferee pursuant to the Registration Statement, which certificates shall be free, to the extent permitted
by the Purchase Agreement, of all restrictive legends, and to enable such Registrable Securities to be in such denominations and
registered in such names as any such Holders may request in writing a reasonable period of time prior to any sale of Registrable
Securities.

 

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(i) Updates. Upon
the occurrence of any event contemplated by Section 1(c)(v), as promptly as reasonably possible, prepare a supplement or
amendment, including a post-effective amendment, to the Registration Statement or a supplement to the related Prospectus or any
document incorporated or deemed to be incorporated therein by reference, and file any other required document so that, as thereafter
delivered, neither the Registration Statement nor such Prospectus will contain an untrue statement of a material fact or omit
to state a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances
under which they were made, not misleading.

 

(j) Commission Rules.
Comply in all material respects with all applicable rules and regulations of the Commission.

 

4. Registration Expenses.
All fees and expenses incident to the performance of or compliance with this Agreement by the Company shall be borne by the Company
whether or not any Registrable Securities are sold pursuant to the Registration Statement. The fees and expenses referred to in
the foregoing sentence shall include (i) all registration and filing fees (including fees and expenses (A) with respect to filings
required to be made with any Trading Market, and (B) in compliance with applicable state securities or Blue Sky laws), (ii) printing
expenses (including expenses of printing certificates for Registrable Securities and of printing prospectuses if the printing
of prospectuses is reasonably requested by the Holders of a majority of the Registrable Securities included in the applicable
Registration Statement), (iii) messenger, telephone and delivery expenses, (iv) reasonable fees and disbursements of counsel for
the Company and lip to $5,000 of the fees and disbursements of Special Counsel (but only if a Special Counsel is designated),
(v) Securities Act liability insurance, if the Company so desires such insurance, and (vi) fees and expenses of all other Persons
retained by the Company in connection with the consummation of the transactions contemplated by this Agreement. In addition, the
Company shall be responsible for all of its internal expenses incurred in connection with the consummation of the transactions
contemplated by this Agreement (including all salaries and expenses of its officers and employees performing legal or accounting
duties), the expense of any annual audit and the fees and expenses incurred in connection with the listing of the Registrable
Securities on any securities exchange as required under this Agreement or the Purchase Agreement. In no event shall the Company
be responsible for any broker or similar commissions, or, except to the extent provided for in the preceding sentence, any legal
fees or other costs of the Holders.

 

5. Indemnification.

 

(a) Indemnification by
the Company. The Company shall, notwithstanding any termination of this Agreement, indemnify and hold harmless each Holder,
the officers, directors, agents, employees, and investment advisors of each Holder, each Person who controls (within the meaning
of Section 15 of the Securities Act or Section 20 of the Exchange Act) any Holder, and the officers, directors, agents and employees
of each such controlling Person, to the fullest extent permitted by applicable law, from and against any and all Losses, as incurred,
arising out of or relating to any untrue or alleged untrue statement of a material fact contained in the Registration Statement,
any Prospectus or any form of prospectus or in any amendment or supplement thereto or in any preliminary prospectus, or arising
out of or relating to any omission or alleged omission of a material fact required to be stated therein or necessary to make the
statements therein (in the case of any Prospectus or form of prospectus or supplement thereto, in light of the circumstances under
which they were made) not misleading, except to the extent, but only to the extent, that (1) such untrue statements or omissions
are based solely upon information regarding such Holder furnished in writing to the Company by such Holder expressly for use therein,
or to the extent that such information relates to such Holder or such Holder's proposed method of distribution of Registrable
Securities and was reviewed and expressly approved in writing by such Holder expressly for use in the Registration Statement,
such Prospectus or such form of Prospectus or in any amendment or supplement thereto (it being understood that each Holder has
approved Appendix A for this purpose) or (2) in the case of an occurrence of an event of the type specified in Section
l(c)(ii)-(v), the use by such Holder of an outdated or defective Prospectus after the Company has notified such Holder in
writing that the Prospectus is outdated or defective and prior to the receipt by such Holder of the Advice contemplated by Section
6(d). The Company shall notify the Holders promptly of the institution, threat or assertion of any Proceeding of which the
Company is aware in connection with the transactions contemplated by this Agreement.

 

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(b) Indemnification by
Holders. Each Holder shall, severally and not jointly, indemnify and hold harmless the Company, its officers, directors, agents
and employees, each Person who controls (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange
Act) the Company, and the officers, directors, agents and employees of each such controlling Person, to the fullest extent permitted
by applicable law, from and against all Losses, as incurred, arising solely out of or based solely upon (x) such Holder's failure
to comply with the prospectus delivery requirements of the Securities Act, or (y) any untrue statement of a material fact contained
in any Registration Statement, any Prospectus, or any form of prospectus, or in any amendment or supplement thereto, or arising
solely out of or based solely upon any omission of a material fact required to be stated therein or necessary to make the statements
therein not misleading to the extent, but only to the extent, that (I) such untrue statements or omissions are based solely upon
information regarding such Holder furnished in writing to the Company by such Holder expressly for use therein, or to the extent
that such information relates to such Holder or such Holder's proposed method of distribution of Registrable Securities and was
reviewed and expressly approved in writing by such Holder expressly for use in the Registration Statement (it being understood
that each Holder has approved Appendix A for this purpose), such Prospectus or such form of Prospectus or in any amendment
or supplement thereto or (2) in the case of an occurrence of an event of the type specified in Section l(c)(ii)-(v), the
use by such Holder of an outdated or defective Prospectus after the Company has notified such Holder in writing that the Prospectus
is outdated or defective and prior to the receipt by such Holder of the Advice contemplated by Section 6(d); provided,
however, that in no event shall the liability of any Holder hereunder be greater in amount than the dollar amount of the
net proceeds received by such Holder upon the sale of the Registrable Securities giving rise to such indemnification obligation.

 

(c) Conduct of Indemnification
Proceedings.

 

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

 

(ii) Separate
Counsel. An Indemnified Party shall have the right to employ separate counsel in any such Proceeding and to participate in
the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party or Parties, unless
(I) the Indemnifying Party has agreed in writing to pay such fees and expenses; (2) the Indemnifying Party shall have failed promptly
to assume the defense of such Proceeding and to employ counsel reasonably satisfactory to such Indemnified Party in any such Proceeding;
or (3) the named parties to any such Proceeding (including any impleaded parties) include both such Indemnified Party and the
Indemnifying Party, and such Indemnified Party shall have been advised by counsel that a conflict of interest is likely to exist
if the same counsel were to represent such Indemnified Party and the Indemnifying Party (in which case, if such Indemnified Party
notifies the Indemnifying Party in writing that it elects to employ separate counsel at the expense of the Indemnifying Party,
the Indemnifying Party shall not have the right to assume the defense thereof and the reasonable fees and expenses of one separate
counsel shall be at the expense of the Indemnifying Party).

 

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(iii) Settlement.
The Indemnifying Party shall not be liable for any settlement of any such Proceeding effected without its written consent, which
consent shall not be unreasonably withheld. No Indemnifying Party shall, without the prior written consent of the Indemnified
Party, effect any settlement of any pending Proceeding in respect of which any Indemnified Party is a party, unless such settlement
includes an unconditional release of such Indemnified Party from all liability on claims that are the subject matter of such Proceeding.

 

(iv) Fees and
Expenses. All reasonable fees and expenses of the Indemnified Party (including reasonable fees and expenses to the extent
incurred in connection with investigating or preparing to defend such Proceeding in a manner not inconsistent with this Section
5) shall be paid to the Indemnified Party, as incurred, within ten (10) Trading Days of written notice thereof to the Indemnifying
Party (regardless of whether it is ultimately determined that an Indemnified Party is not entitled to indemnification hereunder;
provided that the Indemnifying Party may require such Indemnified Party to undertake to reimburse all such fees and expenses
to the extent it is finally judicially determined that such Indemnified Party is not entitled to indemnification hereunder).

 

(k) Contribution.

 

(i) Relative
Fault. If a claim for indemnification under Section 5(a) or Section 5(b) is unavailable to an Indemnified Party
(by reason of public policy or otherwise), then each Indemnifying Party, in lieu of indemnifying such Indemnified Party, shall
contribute to the amount paid or payable by such Indemnified Party as a result of such Losses, in such proportion as is appropriate
to reflect the relative fault of the Indemnifying Party and Indemnified Party in connection with the actions, statements or omissions
that resulted in such Losses as well as any other relevant equitable considerations. The relative fault of such Indemnifying Party
and Indemnified Party shall be determined by reference to, among other things, whether any action in question, including any untrue
or alleged untrue statement of a material fact or omission or alleged omission of a material fact required to be stated or necessary
to make the statements not misleading, has been taken or made by, or relates to information supplied by, such Indemnifying Party
or Indemnified Party, and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent
such action, statement or omission. The amount paid or payable by a party as a result of any Losses shall be deemed to include,
subject to the limitations set forth in Section 5(c), any reasonable attorneys' or other reasonable fees or expenses incurred
by such party in connection with any Proceeding to the extent such party would have been indemnified for such fees or expenses
if the indemnification provided for in this Section 5 were available to such party in accordance with its terms. The parties
hereto agree that it would not be just and equitable if contribution pursuant to this Section 1(k) were determined by pro
rata allocation or by any other method of allocation that does not take into account the equitable considerations referred to
in the immediately preceding paragraph.

 

(ii) Limitations.
Notwithstanding the provisions of this Section (k). no Holder shall be required to contribute, in the aggregate, any amount
in excess of the amount by which the proceeds actually received by such Holder from the sale of the Registrable Securities subject
to the Proceeding exceeds the amount of any damages that such Holder has otherwise been required to pay by reason of such untrue
or alleged untrue statement or omission or alleged omission, except in the case of fraud by such Holder.

 

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(iii) Non-Exclusive.
The indemnity and contribution agreements contained in this Section (k) are in addition to any liability that the Indemnifying
Parties may have to the Indemnified Parties.

 

6. Miscellaneous.

 

(a) Remedies. In
the event of a breach by the Company or by any Holder of any of its respective obligations under this Agreement, each Holder or
the Company, as the case may be, in addition to being entitled to exercise all rights granted by law and under this Agreement,
including recovery of damages, will be entitled to specific performance of its rights under this Agreement. The Company and each
Holder agree that monetary damages would not provide adequate compensation for any losses incurred by reason of a breach by it
of any of the provisions of this Agreement and hereby further agrees that, in the event of any action for specific performance
in respect of such breach, it shall waive the defense that a remedy at law would be adequate. Notwithstanding the foregoing, the
Holders shall have no right to take any action to restrain, enjoin or otherwise delay any registration statement filed by or proposed
to be filed by the Company as a result of any controversy that may arise with respect to the interpretation or implementation
of this Agreement.

 

(b) No Piggyback on Registrations.
The Company represents and warrants to, and agrees with, the Holders that (i) neither the Company nor any of its security holders
may include securities of the Company in the Registration Statement, other than the Registrable Securities, and the Company shall
not after the date hereof enter into any agreement providing any such right to any of its security holders without the written
consent of the Necessary Holders, and (ii) except as disclosed in or attached to the Company's filings with the Commission, the
Company has not previously entered into any agreement granting any registration rights with respect to any of its securities to
any Person which have not been fully satisfied.

 

(c) Compliance. Each
Holder covenants and agrees that it will comply with the prospectus delivery requirements of the Securities Act as applicable
to it in connection with sales of Registrable Securities pursuant to the Registration Statement.

 

(d) Discontinued Disposition.
Each Holder agrees by its acquisition of such Registrable Securities that, upon receipt of a notice from the Company of the occurrence
of any event of the kind described in Section l (c), such Holder will forthwith discontinue disposition of such Registrable
Securities under the Registration Statement until such Holder's receipt of the copies of the supplemented Prospectus and/or amended
Registration Statement or until it is advised in writing (the "Advice") by the Company that the use of the applicable
Prospectus may be resumed, and, in either case, has received copies of any additional or supplemental filings that are incorporated
or deemed to be incorporated by reference in such Prospectus or Registration Statement. The Company may provide appropriate stop
orders to enforce the provisions of this Section 6(d).

 

(e) Regulation M.
Each Holder agrees not to take any action with respect to any distribution deemed to be made pursuant to any Registration Statement
which would constitute a violation of Regulation M under the Exchange Act or any other applicable rule, regulation or law.

 

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(f) Amendments and
Waivers. No provision of this Agreement may be waived or amended except in a written instrument signed, in the case of an
amendment, by the Company and Necessary Holders (provided, however, that any such amendment that adversely affects any Holder
or class of Holders in a manner that does not apply uniformly to all Holders, Shares, or Registrable Securities, as applicable,
shall require the written consent of such adversely affected Holders or class) or, in the case of a waiver, by the party against
whom enforcement of any such waiver is sought; provided, however, that a waiver or consent to depart from the provisions hereof
with respect to a matter that relates exclusively to the rights of certain Holders or Registrable Securities and that does not
directly or indirectly affect the rights of other Holders or Registrable Securities must be given by all Holders or all Holders
of such Registrable Securities, as the case may be, to which such waiver or consent relates; and, provided, further, that the
provisions of the proviso next preceding may be amended, modified, or supplemented only with the consent of all Holders. No waiver
of any default with respect to any provision, condition or requirement of this Agreement shall be deemed to be a continuing waiver
in the future or a waiver of any subsequent default or a waiver of any other provision, condition or requirement hereof, nor shall
any delay or omission of either party to exercise any right hereunder in any manner impair the exercise of any such right.

 

(g) Notices. Any
and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and shall
be deemed given and effective on the earliest of (a) the date of transmission, if such notice or communication is delivered via
facsimile at the facsimile number or via email at the email address specified pursuant to this Section 6(g) prior to 6:30
p.m. (New York City time) on a Trading Day, (b) the next Trading Day after the date of transmission, if such notice or communication
is delivered via facsimile at the facsimile number or via email at the email address specified pursuant to this Section 6(g)
on a day that is not a Trading Day or later than 6:30 p.m. (New York City time) on any Trading Day, (c) the Trading Day following
the date of mailing, if sent by U.S. nationally recognized overnight courier service for overnight delivery to the street address
specified pursuant to this Section 6(g), or (d) upon actual receipt by the party to whom such notice is required to be
given. The address for such notices and communications shall be as follows:

 

	If to the Company:
	Accelr8 Technology Corporation
	 	7000 North Broadway, Building
3-307
	 	Denver, Colorado 80221
	 	Facsimile: (303) 863-1218
	 	 
	with a copy to (which copy shall not constitute notice to the Company):
	 	 
	 	Schlueter & Associates, P.C.
	 	1050 17th Street, Suite
1750
	 	Denver, Colorado 80265
	 	Attn: Henry Schlueter,
Esq. and David Stefanski, Esq.
	 	Facsimile: (303) 296-8880
	 	 
	If to a Holder:
	To the address of such Holder as it appears in the stock transfer books of the Company;
	 	 

 

 

or such other facsimile number or email or
street address as may be designated in writing hereafter, in the same manner, by such Person.

 

(h) Successors and
Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and permitted assigns of each of
the parties and shall inure to the benefit of each Holder. The Company may not assign its rights or obligations hereunder except
(I) with the prior written consent of each Holder, (2) to its successors. Each Holder may assign their respective rights hereunder
in the manner and to the Persons permitted under the Purchase Agreement.

 

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(i) Execution and Counterparts.
This Agreement may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original
and, all of which taken together shall constitute one and the same Agreement, it being understood that the parties need not sign
the same counterpart. In the event that any signature is delivered by facsimile or electronic transmission, such signature shall
create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force
and effect as if such facsimile or electronic signature page were an original thereof.

 

(j) Governing Law.
All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by and
construed and enforced in accordance with the internal laws of the State of Arizona, without regard to the principles of conflicts
of law thereof. Each party agrees that all Proceedings concerning the interpretations, enforcement and defense of the transactions
contemplated by this Agreement (whether brought against a party hereto or its respective Affiliates, employees or agents) may
be commenced, and to the extent permitted by applicable law shall be commenced exclusively, in the state and federal courts sitting
in Maricopa County, Arizona. Each party hereto hereby irrevocably submits to the jurisdiction of the Maricopa County, Arizona
courts for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or
discussed herein, and hereby irrevocably waives, and agrees not to assert in any Proceeding, any claim that it is not personally
subject to the jurisdiction of any such Maricopa County, Arizona court, or that such Proceeding has been commenced in an improper
or inconvenient forum. To the extent permitted by applicable law, each party hereto hereby irrevocably waives personal service
of process and consents to process being served in any such Proceeding by mailing a copy thereof via registered or certified mail
or overnight delivery (with evidence of delivery) to such patty at the address in effect for notices to it under this Agreement
and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein
shall be deemed to limit in any way any right to serve process in any manner permitted by law. If any party shall commence a Proceeding
to enforce any provisions of this Agreement, then the prevailing party in such Proceeding shall be reimbursed by the other party
for its attorney's fees and other costs and expenses actually incurred with the investigation, preparation and prosecution of
such Proceeding.

 

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

 

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

 

(m) Construction.
The rules of construction set forth in Section 1.2 of the Purchase Agreement shall apply to this Agreement.

 

 

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(n) End of Effectiveness
Period. At the end of the Effectiveness Period the Holders shall discontinue sales of Shares pursuant to such Registration
Statement upon receipt of notice from the Company of its intention to remove from registration the shares covered by such Registration
Statement which remain unsold.

 

(o) Independent Nature
of Holders' Obligations and Rights. The obligations of each Holder hereunder are several and not joint with the obligations
of any other Holder hereunder, and no Holder shall be responsible in any way for the performance of the obligations of any other
Holder hereunder. Nothing contained herein or in any other agreement or document delivered at any closing, and no action taken
by any Holder pursuant hereto or thereto, shall be deemed to constitute the Holders as a partnership, an association, a joint
venture or any other kind of entity, or create a presumption that the Holders constitute a "group" or are in any way
acting in concert with respect to such obligations or the transactions contemplated by this Agreement. Each Holder shall be entitled
to protect and enforce its rights, including the rights arising out of this Agreement, and it shall not be necessary for any other
Holder to be joined as an additional party in any proceeding for such purpose.

 

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-12-

 

 

 

 

     

     

    

 

 

IN WITNESS WHEREOF, the
undersigned has caused this Registration Rights Agreement to be duly executed by its authorized signatory as of the date first
indicated above.

 

	 	Accelr8 Technology Corporation, a
Colorado corporation

	 	 
	 	By: /s/ Thomas V. Geimer
	 	Thomas V. Geimer
	 	Chief Executive Officer

 

 

 

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 [SIGNATURE PAGE FOR HOLDER FOLLOWS]

 

 

 

 

 

 

 

 

     

     

    

 

 

 

 

IN WITNESS WHEREOF, the
undersigned has caused this Registration Rights Agreement to be duly executed by its authorized signatory as of the date first
indicated above.

 

	 	Abeja Ventures, LLC, a Delaware limited
liability company
	 	 
	 	By: /s/ Lawrence Mehren
	 	Lawrence Mehren
	 	Manager

 

 

 

 

 

 

 

 

 

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APPENDIX A

 

Plan of Distribution

 

The selling stockholder
may, from time to time, sell any or all of its shares of common stock on any stock exchange, market or trading facility on which
the shares are traded or in private transactions. These sales may be at fixed or negotiated prices. The selling stockholder may
use anyone or more of the following methods when selling shares:

 

		$	ordinary brokerage transactions and transactions In which the broker-dealer solicits purchasers;

 

		$	block trades in which the broker-dealer will attempt to sell the shares as agent but may position
and resell a portion of the block as principal to facilitate the transaction; 

 

		$	purchases by a broker-dealer as principal and resale by the broker-dealer for its account;

 

		$	exchange distribution in accordance with the rules of the applicable exchange; 

 

		$	privately negotiated transactions; 

 

		$	short sales; 

 

		$	through the writing or settlement of options or other hedging transactions, whether through an
options exchange or otherwise; 

 

		$	broker-dealers may agree with the selling stockholder to sell a specified number of such shares
at a stipulated price per share; 

 

		$	a combination of any such methods of sale; and 

 

		$	any other method permitted pursuant to applicable law. 

 

The selling stockholder
may also sell shares under Rule 144 under the Securities Act, if available, rather than under this prospectus.

 

The selling stockholder
may also engage in short sales against the box, puts and calls and other transactions in our securities or derivatives of our securities
and may sell or deliver shares in connection with these trades.

 

Broker-dealers engaged
by the selling stockholder may arrange for other broker-dealers to participate in sales. Broker-dealers may receive commissions
or discounts from the selling stockholder (or, if any broker-dealer acts as agent for the purchaser of shares, from the purchaser)
in amounts to be negotiated. The selling stockholder does not expect these commissions and discounts to exceed what is customary
in the types of transactions involved. Any profits on the resale of shares of common stock by a broker-dealer acting as principal
might be deemed to be underwriting discounts or commissions under the Securities Act. Discounts, concessions, commissions and similar
selling expenses, if any, attributable to the sale of shares will be borne by the selling stockholder. The selling stockholder
may agree to indemnify any agent, dealer or broker-dealer that participates in transactions involving sales of the shares if liabilities
are imposed on that person under the Securities Act.

 

 

 

 

 

 

     

     

    

 

In connection with the
sale of our common stock or interests therein, the selling stockholder may enter into hedging transactions with broker-dealers
or other financial institutions, which may in turn engage in short sales of the common stock in the course of hedging the positions
they assume. The selling stockholder may also sell shares of our common stock short and deliver these securities to close out their
short positions, or loan or pledge the common stock to broker-dealers that in turn may sell these securities. The selling stockholder
may also enter into option or other transactions with broker-dealers or other financial institutions or the creation of one or
more derivative securities which require the delivery to such broker-dealer or other financial institution of shares offered by
this prospectus, which shares such broker-dealer or other financial institution may resell pursuant to this prospectus (as supplemented
or amended to reflect such transaction).

 

The selling stockholder
may from time to time pledge or grant a security interest in some or all of the shares of common stock owned by them and, if they
default in the performance of their secured obligations, the pledgees or secured parties may offer and sell the shares of common
stock from time to time under this prospectus after we have filed an amendment to this prospectus under Rule 424(b)(3) or other
applicable provision of the Securities Act of 1933 amending the list of selling stockholder to include the pledgee, transferee
or other successors in interest as selling stockholder under this prospectus.

 

The selling stockholder
also may transfer the shares of common stock in other circumstances, in which case the transferees, pledgees or other successors
in interest will be the selling beneficial owners for purposes of this prospectus and may sell the shares of common stock from
time to time under this prospectus after we have filed an amendment to this prospectus under Rule 424(b)(3) or other applicable
provision of the Securities Act of 1933 amending the list of selling stockholder to include the pledgee, transferee or other successors
in interest as selling stockholder under this prospectus.

 

The selling stockholder
and any broker-dealers or agents that are involved in selling the shares of common stock may be deemed to be "underwriters"
within the meaning of the Securities Act in connection with such sales. In such event, any commissions received by such broker-dealers
or agents and any profit on the resale of the shares of common stock purchased by them may be deemed to be underwriting commissions
or discounts under the Securities Act.

 

We are required to pay
all fees and expenses incident to the registration of the shares of common stock. We have agreed to indemnify the selling stockholder
against certain losses, claims, damages and liabilities, including liabilities under the Securities Act.

 

The selling stockholder
has advised us that they have not entered into any agreements, understandings or arrangements with any underwriters or broker-dealers
regarding the sale of their shares of common stock, nor is there an underwriter or coordinating broker acting in connection with
a proposed sale of shares of common stock by the selling stockholder. If we are notified by the selling stockholder that any material
arrangement has been entered into with a broker-dealer for the sale of shares of common stock, if required, we will file a supplement
to this prospectus. If the selling stockholder uses this prospectus for any sale of the shares of common stock, it will be subject
to the prospectus delivery requirements of the Securities Act.

 

The anti-manipulation rules
of Regulation M under the Securities Exchange Act of 1934 may apply to sales of our common stock and activities of the selling
stockholder.

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