Document:

EX-10.1

 Exhibit 10.1 

STOCK AND WARRANT SUBSCRIPTION AGREEMENT 

TROVAGENE, INC. 
 This
Stock and Warrant Subscription Agreement (the “Agreement”) is entered into as of January 25, 2019 (the “Effective Date”), by and between Trovagene, Inc., a Delaware corporation (hereinafter the
“Company”) and POC Capital, LLC, a California limited liability company (the “Subscriber”). 
 WHEREAS:

 A. In consideration for the Subscriber’s performance of its obligations under the Master Services Agreement by and among the
Company, Integrium, LLC and the Purchaser of even date herewith (the “Master Services Agreement,” and together with this Agreement, the Certificate of Designations of the Series C Preferred Stock and the Warrant, the
“Transaction Documents”), the Company wishes to issue to the Subscriber shares of its common stock (the “Common Stock”) and preferred stock (the “Preferred Stock”) and a warrant exercisable for
shares of Common Stock in the number and upon the terms and conditions as set forth herein. 
 B. The Company desires to issue to Subscriber
(i) 1,100,000 shares of its common stock, par value $0.0001 per share (the “Common Shares”), (ii) 200,000 shares of its Series C Preferred Stock, par value $0.0001 per share, in the form of the Certificate of Designation of the
Series C Preferred Stock attached hereto (the “Preferred Shares”), and (iii) a warrant exercisable for 900,000 shares of its common stock, par value $0.0001 (the “Warrant” and together with the Common Shares
and Preferred Shares, the “Securities”), for an aggregate issue price of One Million Six Hundred and Seventy Five Thousand US Dollars ($1,675,000) (the “Purchase Price”). The Warrant exercise price shall equal
$0.627. 
 E. Subscriber desires to acquire the Securities upon the terms and conditions herein. 

NOW, THEREFORE, for and in consideration of the premises and the mutual covenants hereinafter
set-forth, the parties hereto do hereby agree as follows: 
 SUBSCRIPTION 

1.1 Subject to the terms and conditions hereinafter set forth, the Subscriber hereby agrees to be issued the Common Shares, the Preferred Shares and the
Warrant by the Company, respectively, and the Company agrees to issue the Securities to Subscriber at the Purchase Price in consideration for the Subscriber’s fulfilment of its obligations to the Company pursuant to the Master Services
Agreement. 
 1.2 The Securities subscribed to hereunder are issued by the Company in full satisfaction of, which is hereby acknowledged by the Subscriber,
and in connection with the Company’s payment obligations to the Subscriber under the Master Services Agreement. 
 1.3 Promptly following the execution
of this Agreement the Company will deliver to the Subscriber fully executed stock certificates representing the Common Shares and the Preferred Shares and a Warrant in the mutually agreed upon form attached hereto as Exhibit A, and record the
same on the Company’s books. 
 REPRESENTATIONS AND WARRANTIES BY SUBSCRIBER 

2.1 Subscriber hereby acknowledges, represents and warrants to the Company the following: 

  
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 (A) Subscriber acknowledges that the purchase of the Securities involves a high degree of
risk in that the Company may require substantial additional funds; 
 (B) Subscriber recognizes that acquiring the Securities of the Company
is highly speculative and only investors who can afford the loss of their entire investment should consider investing in the Company and the Securities; 

(C) Subscriber has such knowledge and experience in finance, securities, investments, including investment in unregistered securities, and
other business matters so as to be able to protect its interests in connection with this transaction; 
 (D) The Subscriber is an
“Accredited Investor” as defined in Rule 501 of Regulation D promulgated under the Securities Act of 1933, as amended (the “Act”); 

(E) Subscriber acknowledges that the market for shares of the Common Stock may be illiquid and, accordingly, Subscriber may not be able to
liquidate the Common Shares; 
 (F) Subscriber acknowledges that the market for shares of the Common Stock into which the Preferred Shares
are convertible and for which the Warrant will be exercisable may be illiquid and, accordingly, Subscriber may not be able to liquidate its Preferred Shares and Warrant; 

(G) Subscriber acknowledges that the Securities are subject to significant restrictions on transfer as imposed by state and federal securities
laws, including but not limited to a minimum holding period of at least six (6) months; 
 (H) Subscriber hereby acknowledges
(i) that this offering of Securities has not been reviewed by the United States Securities and Exchange Commission or by the securities regulator of any state; (ii) that the Securities are being issued by the Company pursuant to an
exemption from registration provided by Section 4(a)(2) of the Act; and (iii) that any certificate evidencing the Securities received by Subscriber will bear a legend in substantially the following form: 

THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ACQUIRED FOR INVESTMENT AND HAVE NOT BEEN REGISTERED WITH THE UNITED STATES SECURITIES
AND EXCHANGE COMMISSION UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR UNDER ANY APPLICABLE STATE SECURITIES LAWS. WITHOUT SUCH REGISTRATION, SUCH SECURITIES MAY NOT BE SOLD OR OTHERWISE TRANSFERRED AT ANY TIME WHATSOEVER UNLESS IN THE OPINION OF
COUNSEL SATISFACTORY TO THE COMPANY REGISTRATION IS NOT REQUIRED FOR SUCH TRANSFER AND THAT SUCH TRANSFER WILL NOT BE IN VIOLATION OF THE APPLICABLE FEDERAL AND STATE SECURITIES LAWS OR ANY RULE OR REGULATION PROMULGATED THEREUNDER. 

(I) Subscriber is acquiring the Securities as principal for Subscriber’s own benefit and not with a view to distribution, on behalf of the
Company or otherwise, of the Securities or the shares of Common Stock into which the Preferred Shares are convertible and for which the Warrant is exercisable; 

(J) Subscriber is not aware of any advertisement of the Securities or any general solicitation in connection with any offering of the
Securities; 

  
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 (K) Subscriber acknowledges receipt and review of the Company’s Certificate of
Designation for Series C Preferred Stock, together with the opportunity and the Company’s encouragement to seek the advice and consultation of independent investment, legal and tax counsel; 

(L) Subscriber acknowledges and agrees that the Company has previously made available to Subscriber the opportunity to ask questions of and to
receive answers from representatives of the Company concerning the Company and the Securities, as well as to conduct whatever due diligence the Subscriber, in its discretion, deems advisable. Subscriber is not relying on any information communicated
by any representatives of the Company and is relying solely upon information obtained during Subscriber’s due diligence investigation in making a decision to invest in the Securities and the Company. 

REPRESENTATIONS BY THE COMPANY 
 3.1 The
Company represents and warrants to the Subscriber that: 
 (A) The Company is a corporation duly organized, existing and in good standing
under the laws of the State of Delaware and has the corporate power to conduct the business which it conducts and proposes to conduct. 
 (B)
Upon issuance, the shares of Common Stock and Series C Preferred Stock will be duly and validly issued and fully paid and non-assessable and the Warrant will be duly and validly issued, and the Securities will
be issued in compliance with all applicable state and federal laws concerning the issuance of securities. 
 (C) The Company has reserved the
Common Shares and Preferred Shares for issuance pursuant to this Agreement, the Common Stock subject to the Warrant for issuance upon exercise of the Warrants and the shares of Common Stock for issuance upon conversion of the Preferred Shares. 

(D) The rights, preferences, privileges and restrictions of the Common Shares are as stated in the Company’s Amended and Restated
Certificate of Incorporation, as amended and the Preferred Shares are as stated in the Company’s Certificate of Designation of even date herewith delivered to the Subscriber. 

(F) The Preferred Share are convertible into Common Stock on a
one-for-one basis as of the date hereof, and the consummation of the transactions contemplated hereunder will not result in any anti-dilution adjustment or other similar
adjustment to the outstanding shares of the Company’s capital stock. 
 (G) Material Contracts. Except as disclosed in any
report, schedule, form, statement or other document filed by the Company under the Securities Act of 1933, as amended and the Exchange Act of 1934, as amended (the “SEC Reports”), and except for the agreements explicitly
contemplated hereby, there are no agreements, understandings, instruments, contracts, proposed transactions, judgments, orders, writs or decrees to which the Company is a party or by which it is bound which may involve (i) obligations of, or
payments to, the Company in excess of $250,000 (other than obligations of, or payments to, the Company arising from purchase or sale agreements entered into in the ordinary course of business), or (ii) the license of any patent,
copyright, trade secret or other proprietary right to or from the Company or (iii) the grant of rights to manufacture, produce, assemble, license, market or sell the Company’s products or affect the Company’s exclusive right to
develop, manufacture, assemble, distribute, market or sell its products (each, a “Material Contract”, collectively the “Material Contracts”). All of the Material Contracts are valid, binding and in full force and
effect in all material respects, subject to laws of general application relating to bankruptcy, insolvency and the relief of debtors and rules of law governing specific performance, injunctive relief or other equitable remedies and to general
principles of equity. Neither the Company is nor is any other party to the Material Contracts in material default under any of such Material Contracts. 

  
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 (H) Intellectual Property. 

(a) Ownership. Except as disclosed in the SEC Reports, to the knowledge of the Company (without having conducted any special
investigation or patent search), the Company owns or possesses or can obtain on commercially reasonable terms sufficient legal rights to all patents, trademarks, service marks, trade names, copyrights, trade secrets, licenses, information, processes
and similar proprietary rights (“Intellectual Property”) necessary to the business of the Company as presently conducted, the lack of which could reasonably be expected to have (i) a material adverse effect on the legality,
validity or enforceability of any Transaction Document, (ii) a material adverse effect on the results of operations, assets, business, prospects or condition (financial or otherwise) of the Company or (iii) a material adverse effect on the
Company’s ability to perform in any material respect on a timely basis its obligations under any Transaction Document (any of (i), (ii) or (iii), a “Material Adverse Effect”). The Company has not received any written
communication alleging that the Company has violated or, by conducting its business as currently conducted, would violate any of the Intellectual Property of any other person or entity , nor is the Company aware of any basis therefor. 

(b) No Breach by Employees. Except as disclosed in the SEC Reports, the Company is not aware that any of its employees is obligated
under any contract or other agreement, or subject to any judgment, decree or order of any court or administrative agency, that would materially interfere with the use of his or her efforts to promote the interests of the Company or that would
conflict with the Company’s business as presently conducted. Neither the execution nor delivery of this Agreement, nor the carrying on of the Company’s business by the employees of the Company, nor the conduct of the Company’s
business as presently conducted, will, to the Company’s knowledge, conflict with or result in a breach of the terms, conditions or provisions of, or constitute a default under, any contract, covenant or instrument under which any of such
employees is now obligated. The Company does not believe it is or will be necessary to use any inventions of any of its employees made prior to their employment by the Company. 

(I) Title to Properties and Assets; Liens. Except as disclosed in the SEC Reports, to the knowledge of the Company, the Company has good
and marketable title to its properties and assets, and has good title to all its leasehold interests, in each case subject to no material mortgage, pledge, lien, lease, encumbrance or charge, other than (i) liens for current taxes not yet due
and payable, (ii) liens imposed by law and incurred in the ordinary course of business for obligations not past due, (iii) liens in respect of pledges or deposits under workers’ compensation laws or similar legislation, and
(iv) liens, encumbrances and defects in title which do not in any case materially detract from the value of the property subject thereto or have a Material Adverse Effect, and which have not arisen otherwise than in the ordinary course of
business. With respect to the property and assets it leases, the Company is in compliance with such leases in all material respects and, to its knowledge, holds a valid leasehold interest free of any liens, claims or encumbrances, subject to clauses
(i)-(iv) above. 
 (J) Compliance with Other Instruments. The Company is not in violation of any material term of its Certificate of
Incorporation or bylaws, each as amended to date, or, to the Company’s knowledge, in any material respect of any term or provision of any material mortgage, indebtedness, indenture, contract, agreement, instrument, judgment, order or decree to
which it is party or by which it is bound which would have a Material Adverse Effect. To the Company’s knowledge, the Company is not in violation of any federal or state statute, rule or regulation applicable to the Company the violation of
which would have a Material Adverse Effect. The execution and delivery of the Agreement by the Company, the performance by the Company of its obligations pursuant to the Agreement, and the issuance of the Securities and such shares of Common Stock
into which the Securities may be convertible or for which the Securities may be exercisable, will not result in any material violation of, or materially conflict with, or constitute a material default under, the Company’s Certificate of
Incorporation or bylaws, each as amended to date, or any of its 

  
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agreements, nor, to the Company’s knowledge, result in the creation of any material mortgage, pledge, lien, encumbrance or charge upon any of the properties or assets of the Company. 

(K) Litigation. Except as disclosed in the SEC Reports, there are no actions, suits, proceedings or investigations pending against the
Company or its properties (nor has the Company received notice of any threat thereof) before any court or governmental agency. The Company is not a party or subject to the provisions of any order, writ, injunction, judgment or decree of any court or
government agency or instrumentality. There is no action, suit or proceeding initiated by the Company currently pending. 
 (L)
Permits. The Company has all franchises, permits, licenses, and any similar authority necessary for the conduct of its business as now being conducted by it, the lack of which would have a Material Adverse Effect, and believes it can
obtain, without undue burden or expense, any similar authority for the conduct of its business as presently planned to be conducted. The Company is not in default in any material respect under any of such franchises, permits, licenses or other
similar authority. 
 (M) Offering. Subject to the accuracy of the Investors’ representations and warranties, the offer, sale and
issuance of the Securities to be issued in conformity with the terms of this Agreement, the issuance of Common Stock to be issued upon exercise of the Warrants and the issuance of Common Stock upon conversion of the Preferred Shares, constitute
transactions exempt from the registration requirements of the Act and, except for such notice requirements as may arise under applicable state law, from the registration or qualification requirements of applicable state securities laws, and neither
the Company nor any authorized agent acting on its behalf will take any action hereafter that would cause the loss of such exemption. 
 (N)
Tax Returns and Payments. The Company has timely filed all tax returns required to be filed by it with appropriate federal, state and local governmental agencies, except where the failure to do so would not have a Material Adverse Effect.
These returns and reports are true and correct in all material respects. All taxes shown to be due and payable on such returns, any assessments imposed, and, to the Company’s knowledge, all other taxes due and payable by the Company have been
paid or will be paid prior to the time they become delinquent. The Company has not been advised in writing (i) that any of its returns have been or are being audited as of the date hereof, or (ii) of any deficiency in assessment or
proposed judgment with respect to its federal, state or local taxes. 
 TERMS OF SUBSCRIPTION 

4.1 Upon acceptance of this subscription by the Company, all services paid for thereby under the Master Services Agreement shall be immediately available to
the Company for its use. 
 4.2 Subscriber hereby authorizes and directs the Company to deliver the Securities to be issued to such Subscriber pursuant to
this Agreement to Subscriber’s address indicated herein. 
 4.3 Notwithstanding the place where this Agreement may be executed by any of the parties
hereto, the parties expressly agree that all the terms and provisions hereof shall be construed in accordance with and governed by the laws of the State of New York. Exclusive venue for any dispute arising out of this Agreement or the Securities
shall be the state or federal courts sited in New York City, New York. 
 4.4 The parties agree to execute and deliver all such further documents, agreements
and instruments and take such other and further action as may be necessary or appropriate to carry out the purposes and intent of this Agreement. 

  
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 CONDITIONS TO
SUBSCRIBER’S OBLIGATION TO CLOSE 
 5.1 The Subscriber’s obligation to acquire the Securities upon the execution of this Agreement is subject
to the fulfillment, on or before the date hereof, of each of the following conditions, unless waived by the Subscriber: 
 (A)
Representations and Warranties. The representations and warranties made by the Company in this Agreement shall be true and correct in all material respects as of the date hereof. 

(B) Covenants. The Company shall have performed or complied with all covenants, agreements and conditions contained in this
Agreement to be performed or complied with by the Company on or prior to the date hereof. 
 (C) Blue Sky. The
Company shall have obtained all necessary Blue Sky law permits and qualifications, or have the availability of exemptions therefrom, required by any state for the offer and sale of the Securities, as applicable. 

(D) Certificate of Incorporation; Certificate of Designation. The Certificate of Incorporation and Certificate of
Designation shall have been duly authorized, executed and filed with and accepted by the Secretary of State of the State of Delaware, as applicable and necessary to authorize the Securities issued pursuant to this Agreement or for which the
Securities issued pursuant to this Agreement are convertible or exercisable. 
 (E) Consents and Waivers . The
Company and the Subscriber shall have obtained any and all consents, permits and waivers necessary or appropriate for consummation of the transactions contemplated by the Agreements. 

(F) Proceedings and Documents. All corporate and other proceedings required to carry out the transactions contemplated by this
Agreement, and all instruments and other documents relating to such transactions, shall be reasonably satisfactory in form and substance to the Company, and the Company shall have been furnished with such instruments and documents as it shall have
reasonably requested. 
 CONDITIONS TO COMPANY’S OBLIGATION TO CLOSE 

6.1 The Company’s obligation to sell and issue the Securities is subject to the fulfillment on or before the date hereof of the following conditions,
unless waived by the Company: 
 (A) Representations and Warranties. The representations and warranties made by the
Subscriber in this Agreement shall be true and correct in all material respects when made and shall be true and correct as of the date of hereof. 

(B) Covenants. The Subscriber shall have performed or complied with all covenants, agreements and conditions
contained in the Agreements to be performed or complied with by the Subscriber on or prior to the date hereof in all material respects. 

(C) Compliance with Securities Laws. The Company shall be satisfied that the offer and sale of the Securities and the
Common Stock into which the Securities may be convertible or for which the Securities may be exercisable shall be qualified or exempt from registration or qualification under all 

  
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applicable federal and state securities laws (including receipt by the Company of all necessary blue sky law permits and qualifications required by any state, if any). 

(D) Certificate of Incorporation; Certificate of
Designation. The Certificate of Incorporation and Certificate of Designation shall have been duly authorized, executed and filed with and accepted by the Secretary of State of the State of Delaware, as applicable and necessary to authorize
the Securities issued pursuant to this Agreement or for which the Securities issued pursuant to this Agreement are convertible or exercisable. 

(E) Consents and Waivers. The Company and the Subscriber shall have obtained any and all consents, permits and
waivers necessary or appropriate for consummation of the transactions contemplated by the Agreement. 
 (F) Proceedings and
Documents. All corporate and other proceedings required to carry out the transactions contemplated by this Agreement, and all instruments and other documents relating to such transactions, shall be reasonably satisfactory in form and
substance to the Company, and the Company shall have been furnished with such instruments and documents as it shall have reasonably requested. 

REGISTRATION 
 7.1 The Company
shall use commercially reasonable efforts to file with the SEC a registration statement on Form S-1, S-3 or any other appropriate form in the sole discretion of the Company (the “Registration Statement”) within 45 days following the
closing of this offering, registering for resale on a continuous or delayed basis in accordance with Securities Act of 1933, as amended, (the “Securities Act”) Rule 415(a)(i) the Securities issued to the Subscriber, and the Company shall
use its commercially reasonable efforts to cause the Registration Statement to become effective within 90 days following the closing of this offering (not including any days in which any SEC employees have been furloughed) as promptly as practicable
following the date the Registration Statement is initially filed with the SEC. The Company shall cause the Registration Statement to remain effective through and until such time as the Securities may be available for resale by the Subscriber
pursuant to Rule 144 or its other subsections (or any successor thereto) under the Securities Act. The Company shall bear the expenses incurred in connection with the filing of the Registration Statement and all reasonable costs associated with the
resale of the Securities (pursuant to the Registration Statement or otherwise). 
 MISCELLANEOUS 

8.1 Amendment. Except as expressly provided herein, neither this Agreement nor any term hereof may be amended, waived, discharged or
terminated other than by a written instrument referencing this Agreement and signed by the Company and the Subscriber. 
 8.2
Notices. All notices and other communications required or permitted hereunder shall be in writing and shall be mailed by registered or certified mail, postage prepaid or otherwise delivered by hand, messenger or courier service
addressed: 
 (A) if to Subscriber, to the Subscriber’s address as shown in the Company’s records, as may be updated in
accordance with the provisions hereof; or 

  
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 (B) if to the Company, to the
attention of the President or Chief Executive Officer of the Company at 11055 Flintkote Ave., San Diego, California 92121, or at such other current address as the Company shall have furnished to the Investors. 

Each such notice or other communication shall for all purposes of this Agreement be treated as effective or having been given (i) if delivered by hand,
messenger or courier service, when delivered (or if sent via a nationally-recognized overnight courier service, freight prepaid, specifying next-business-day delivery, one business day after deposit with the courier), or (ii) if sent via mail,
at the earlier of its receipt or five days after the same has been deposited in a regularly-maintained receptacle for the deposit of the United States mail, addressed and mailed as aforesaid. 

8.3 Omitted. 
 8.4 Expenses. The
Company and the Subscriber shall each pay their own expenses in connection with the transactions contemplated by this Agreement; provided, however, that the Company shall reimburse the invoiced fees of one counsel for the Subscriber, such
amount not to exceed $10,000, within one month of presentation of a final invoice. 
 8.5 Survival. The representations, warranties,
covenants and agreements made in this Agreement shall survive any investigation made by any party hereto and the closing of the transaction contemplated hereby for 1 year from the date hereof. 

8.6 Entire Agreement. This Agreement, including the exhibits attached hereto, constitute the full and entire understanding and agreement between
the parties with regard to the subjects hereof and thereof. No party shall be liable or bound to any other party in any manner with regard to the subjects hereof or thereof by any warranties, representations or covenants except as specifically set
forth herein or therein. 
 8.7 Delays or Omissions. Except as expressly provided herein, no delay or omission to exercise any right,
power or remedy accruing to any party to this Agreement upon any breach or default of any other party under this Agreement shall impair any such right, power or remedy of such non-defaulting party, nor shall it be construed to be a waiver of any
such breach or default, or an acquiescence therein, or of or in any similar breach or default thereafter occurring, nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter
occurring. Any waiver, permit, consent or approval of any kind or character on the part of any party of any breach or default under this Agreement, or any waiver on the part of any party of any provisions or conditions of this Agreement, must be in
writing and shall be effective only to the extent specifically set forth in such writing. All remedies, either under this Agreement or by law or otherwise afforded to any party to this Agreement, shall be cumulative and not alternative. 

8.8 Successors and Assigns. The provisions of this Agreement shall inure to the benefit of, and be binding upon, the successors, assigns,
heirs, executors and administrators of the parties hereto. 
 8.9 California Corporate Securities Law. THE SALE OF THE SECURITIES THAT ARE THE
SUBJECT OF THIS AGREEMENT HAS NOT BEEN QUALIFIED WITH THE COMMISSIONER OF CORPORATIONS OF THE STATE OF CALIFORNIA AND THE ISSUANCE OF SUCH SECURITIES OR THE PAYMENT OR RECEIPT OF ANY PART OF THE CONSIDERATION THEREFOR PRIOR TO SUCH QUALIFICATION IS
UNLAWFUL, UNLESS THE SALE OF SECURITIES IS EXEMPT FROM QUALIFICATION BY SECTION 25100, 25102, OR 25105 OF THE CALIFORNIA CORPORATIONS CODE. THE RIGHTS OF ALL PARTIES TO THIS AGREEMENT ARE EXPRESSLY CONDITIONED UPON THE QUALIFICATION BEING
OBTAINED, UNLESS THE SALE IS SO EXEMPT. 

  
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 8.10 Severability. If any provision of this Agreement becomes or is declared by a court of
competent jurisdiction to be illegal, unenforceable or void, portions of such provision, or such provision in its entirety, to the extent necessary, shall be severed from this Agreement, and such court will replace such illegal, void or
unenforceable provision of this Agreement with a valid and enforceable provision that will achieve, to the extent possible, the same economic, business and other purposes of the illegal, void or unenforceable provision. The balance of this Agreement
shall be enforceable in accordance with its terms. 
 8.11 Counterparts. This Agreement may be executed in any number of counterparts, each of
which shall be enforceable against the parties actually executing such counterparts, and all of which together shall constitute one instrument. 
 8.12
Telecopy Execution and Delivery. A facsimile, telecopy or other reproduction of this Agreement may be executed by one or more parties hereto and delivered by such party by facsimile or any similar electronic transmission device pursuant
to which the signature of or on behalf of such party can be seen. Such execution and delivery shall be considered valid, binding and effective for all purposes. At the request of any party hereto, all parties hereto agree to execute and deliver an
original of this Agreement as well as any facsimile, telecopy or other reproduction hereof. 
 8.13 Omitted.  

8.14 Further Assurances. Each party hereto agrees to execute and deliver, by the proper exercise of its corporate, limited liability company,
partnership or other powers, all such other and additional instruments and documents and do all such other acts and things as may be necessary to more fully effectuate this Agreement. 

8.15 Attorney’s Fees. In the event that any suit or action is instituted to enforce any provisions in this Agreement, the prevailing party in
such dispute shall be entitled to recover from the losing party all fees, costs and expenses of appeals. 
 8.16 Jury Trial. EACH OF THE PARTIES
HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING (WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATED TO THIS AGREEMENT. If the waiver of jury
trial set forth in this section is not enforceable, then any claim or cause of action arising out of or relating to this Agreement shall be settled by judicial reference pursuant to California Code of Civil Procedure Section 638 et seq. before
a referee sitting without a jury, such referee to be mutually acceptable to the parties or, if no agreement is reached, by a referee appointed by the Presiding Judge of the California Superior Court for Santa Clara County. This paragraph shall not
restrict a party from exercising remedies under the Uniform Commercial Code or from exercising pre-judgment remedies under applicable law. 

8.17 Obligation of Company. The Company agrees to use its reasonable efforts to enforce the terms of this Agreement, to inform the
Subscriber of any breach hereof (to the extent the Company has knowledge thereof) and to assist the Subscriber in the exercise of its rights and the performance of its obligations hereunder. 

[remainder of this page intentionally blank, accredited investor 

status page and signature page to follow] 

  
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 ACCREDITED INVESTOR STATUS 

☐ By checking this box, Subscriber represents and warrants to the Company that the Subscriber is an “Accredited Investor” as
such term is defined in Rule 501 of Regulation D promulgated under the United States Securities Act of 1933, as amended (the “Act”). The Subscriber acknowledges having reviewed and considered the definition of “Accredited
Investor” as follows: 
 Accredited Investor Definition 

The Subscriber will be an “Accredited Investor” as such term is defined in Rule 501 of Regulation D promulgated under the United States Securities
Act of 1933, as amended (the “Act”) if the Subscriber is any of the following: 
 a) Any bank as defined in section 3(a)(2) of the Act, or
any savings and loan association or other institution as defined in section 3(a)(5)(A) of the Act whether acting in its individual or fiduciary capacity; any broker or dealer registered pursuant to section 15 of the Securities Exchange Act of 1934;
any insurance company as defined in section 2(a)(13) of the Act; any investment company registered under the Investment Company Act of 1940 or a business development company as defined in section 2(a)(48) of that Act; any Small Business Investment
Company licensed by the U.S. Small Business Administration under section 301(c) or (d) of the Small Business Investment Act of 1958; any plan established and maintained by a state, its political subdivisions, or any agency or instrumentality of
a state or its political subdivisions, for the benefit of its employees, if such plan has total assets in excess of $5,000,000; any employee benefit plan within the meaning of the Employee Retirement Income Security Act of 1974 if the investment
decision is made by a plan fiduciary, as defined in section 3(21) of such act, which is either a bank, savings and loan association, insurance company, or registered investment adviser, or if the employee benefit plan has total assets in excess of
$5,000,000 or, if a self-directed plan, with investment decisions made solely by persons that are accredited investors; 
 b) Any private business
development company as defined in section 202(a)(22) of the Investment Advisers Act of 1940; 
 c) Any organization described in section 501(c)(3) of the
Internal Revenue Code, corporation, Massachusetts or similar business trust, or partnership, not formed for the specific purpose of acquiring the securities offered, with total assets in excess of $5,000,000; 

d) Any director, executive officer, or general partner of the issuer of the securities being offered or sold, or any director, executive officer, or general
partner of a general partner of that issuer; 
 e) Any natural person whose individual net worth, or joint net worth with that person’s spouse, at the
time of his purchase exceeds $1,000,000, exclusive of the value of such person’s primary residence; 
 f) Any natural person who had an individual
income in excess of $200,000 in each of the two most recent years or joint income with that person’s spouse in excess of $300,000 in each of those years and has a reasonable expectation of reaching the same income level in the current year;

 g) Any trust, with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the securities offered, whose purchase is
directed by a sophisticated person as described in Rule 506(b)(2)(ii); and 

  
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 h) Any entity in which all of the equity owners are accredited investors. 

  
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 IN WITNESS WHEREOF, this Stock and Warrant Subscription Agreement is executed as of
the Effective Date. 
  

			
	Number of Common Stock Shares Subscribed For:	  	1,100,000
	Number of Series C Preferred Stock Shares Subscribed For:	  	200,000
	Number of Warrant Shares Subscribed For:	  	900,000
	Total Purchase Price:	  	$1,675,000
	Signature of Authorized Signatory:	  	  

	Name of Authorized Signatory:	  	Daron Evans
	Title of Authorized Signatory:	  	Managing Director
	Name of Subscriber:	  	POC Capital, LLC
	Address of Subscriber:	  	2995 Woodside Ave. Suite 400-121, Woodside, CA 94062
	Subscriber’s tax ID#:	  	47-3250329
	Subscriber’s Email Address:	  	_daron@poccap.com
		
	ACCEPTED BY:	  	
		
	TROVAGENE, Inc., a Delaware corporation	  	
		
	Signature of Authorized Signatory:	  	                                      
                                  
		
	Name of Authorized Signatory:	  	                                      
                                  
		
	Title of Authorized Signatory:	  	                                      
                                  

  
 -12- 

 EXHIBIT A 

WARRANT 

  
 -13-Execution Version

 

AMENDED AND RESTATED

EMPLOYMENT AGREEMENT

 

This AMENDED AND RESTATED EMPLOYMENT AGREEMENT
(this "Agreement"), dated January 29, 2019, is entered into by and between ADMA Biologics, Inc., a Delaware
corporation (the "Company"), and Adam S. Grossman ("Executive").

 

PRELIMINARY STATEMENTS

 

The parties are currently bound by an Employment
Agreement dated January 28, 2016 (the "Original Employment Agreement"). The Company and Executive wish
to replace the Original Employment Agreement with this amended and restated employment agreement as provided herein (the "Agreement"),
such Agreement to be effective as of the date hereinabove provided (the "Effective Date").

 

NOW, THEREFORE, the parties hereto agree
as follows:

 

STATEMENT OF AGREEMENT

 

Section 1.EMPLOYMENT

 

Section 1.1Term; At-Will Employment.

 

Executive acknowledges and understands that
employment with the Company is “at-will,” which means the employment relationship can be terminated by either party
for no reason or for any reason not otherwise specifically prohibited by law, at any time, with or without prior notice and with
or without cause except as provided herein. Nothing in this Agreement is intended to alter Executive’s at-will employment
status or obligate the Company to continue to employ Executive for any specific period of time. Any statements or representations
to the contrary should be regarded by Executive as ineffective, and any modification or change in Executive’s at-will employment
status may only occur by way of a writing signed by the parties hereto, and approved by the Board (as defined below). For purposes
of this Agreement, any reference to the "Term" of this Agreement shall mean the duration of Executive’s
employment with the Company.

 

Section 1.2Title and Duties.

 

(a)        During
the Term, Executive shall continue to be employed as the President and Chief Executive Officer of the Company. He shall further
perform such reasonable executive and managerial responsibilities and duties consistent with the title and positions of President
and Chief Executive Officer. Executive shall report to the Board of Directors of the Company (the "Board").
Executive shall devote substantially all of his business skill, time and effort to his employment hereunder and, other than as
specifically provided for herein, shall not serve as an employee, director or consultant of any other entity without the consent
of the Board, provided, however, that he shall be entitled annually to vacation and sick leave pursuant to policies
adopted by the Company from time to time for executive officers of the Company. It is understood that Executive may, without the
consent of the Company or the Board, continue to participate in the ownership and serve on the board of directors of the businesses
set forth on Exhibit A hereto (subject to the limitations set forth on Exhibit A) (the "Permitted
Non-ADMA Activities"). In addition, Executive may serve on Boards of Directors, Boards of Trustees or other similar
positions for up to two company or companies (whether for profit or not for profit) at any time that do not compete with the Company
and do not interfere with his ability to satisfy his obligations hereunder; provided, however, that, with respect to for
profit entities, such service is subject to the approval of the Board (or a Committee thereof), which shall not be unreasonably
withheld or delayed. In addition, Executive may manage his personal financial affairs and participate in civic and charitable endeavors
provided that such activities do not unreasonable interfere with his ability to satisfy his obligations hereunder.

 

     

     

    

 

(b)       Executive
currently serves on the Board and the Company shall, subject to its fiduciary duties, continue to nominate him, and recommend his
election, to the Board during the Term. In the event that Executive's employment terminates for any reason, he shall resign immediately
from the Board, unless otherwise mutually agreed. If he fails to do so, he will be deemed to have violated the terms of this Agreement
and he will be deemed to have resigned from the Board.

 

Section 1.3Place of Employment.

 

Executive's principal place of employment
will be at the Company's offices at 5800 Park of Commerce Boulevard NW, Boca Raton, Florida 33487, unless mutually agreed by the
parties. The Company may, however, require Executive to reasonably travel on business to an extent consistent with Executive's
position.

 

Section 2.COMPENSATION

 

Section 2.1Base Salary.

 

The Company shall pay Executive during the
Term an annual base salary of $536,000 (as it may increase (but not decrease), the "Base Salary") payable
in accordance with the payroll practices of the Company, subject to reduction by any amounts received by Executive under any disability
insurance policy provided by the Company to Executive. Executive's overall compensation, including Base Salary, option grants,
and total bonus, shall be reviewed at least annually by the Board for possible increase.

 

Section 2.2Benefits.

 

During the Term, Executive shall be entitled
to participate in all qualified plans, group medical and disability insurance, holidays and other employee benefits which the Company,
in its sole discretion, may maintain from time to time for the benefit of its executive employees in general, or, if the Company
should discontinue or cause to be discontinued any such benefits, then similar benefits, if any, as may be provided by the Company
to its employees in general.

 

Section 2.3 Annual Bonus Opportunity.

 

Commencing in the year beginning January
1, 2019, Executive shall be entitled to an annual cash bonus, the target of which is fifty-five percent (55%) of the Base Salary,
which target may increase but shall not decrease, based upon the attainment of certain performance milestones and objectives established
by the Board (acting through its Compensation Committee) in consultation with the Executive. The "Target Bonus,"
if any (as determined in the sole discretion of the Board (acting through its Compensation Committee)), shall be payable no later
than March 15 of the year after the year in which the performance relates so long as Executive is employed on December 31 of the
performance year, except as otherwise specified in Section 3.2.

 

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Section 2.4Expenses.

 

Executive shall be entitled to receive prompt
reimbursement for all reasonable business expenses incurred by him in the performance of his duties for the Company, as soon as
possible after such expenses are submitted, in accordance with the policies and procedures adopted by the Company from time to
time for executive officers of the Company, but in no event later than December 31 of the year following the year in which the
expense was incurred. Executive shall furnish appropriate documentation of such expenses, including documentation required by the
Internal Revenue Service.

 

Section 2.5Option Grants.

 

(a)       As
of the Effective Date, Executive has been granted options to purchase shares of common stock, par value $0.001 per share (the "Shares"),
of the Company (the "Options"). Notwithstanding anything contained in the option grants, the Company and
the Executive have agreed that (i) if the Executive's employment is terminated by the Company or its successor for any reason other
than Cause (as defined below) or by the Executive for Good Reason (as defined below) immediately preceding or within two years
after a Change of Control (as defined below) of the Company, all Shares underlying such Options, as well as all Shares underlying
any other options granted in the future to Executive by the Company, shall be immediately vested and exercisable upon such termination
of employment and such Options (and future options) shall remain exercisable until the earlier of the second anniversary of the
Executive's termination of employment or the expiration of the ten-year term of the Options (and any future options), and (ii)
if the Executive's employment is terminated by the Company or its successor for any reason other than Cause, by the Executive for
Good Reason, or as a result of the Executive's death or Disability (as defined below) and clause (i) above does not apply, the
portion of such Options (and any future options) that would have vested and become exercisable on or before the first anniversary
of the Executive's termination of employment had his employment with the Company continued will become immediately vested and exercisable
upon such termination of employment and shall remain exercisable until the earlier of the second anniversary of the Executive's
termination of employment or the expiration of the ten-year term of the Options (and any future options).

 

(b)       For
purposes of this Agreement, "Change of Control" means the occurrence, in a single transaction or in a series
of related transactions, of any one or more of the following events:

 

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(i)       any
person or group (within the meaning of Section 13(d) or 14(d) of the Securities Exchange Act of 1934, as amended) that is not an
Affiliate (as defined below) becomes the owner, directly or indirectly, of voting securities of the Company representing fifty
percent (50%) or more of the combined voting power of the Company's then outstanding voting securities other than by virtue of
a merger, consolidation or similar transaction;

 

(ii)       there
is consummated a merger, consolidation or similar transaction including a sale of substantially all of the assets of the Company
involving (directly or indirectly) the Company if, immediately after the consummation of such merger, consolidation or similar
transaction, the stockholders of the Company immediately prior thereto do not own, directly or indirectly, either (A) outstanding
voting securities representing more than fifty percent (50%) of the combined outstanding voting power of the surviving entity in
such merger, consolidation or similar transaction or (B) more than fifty percent (50%) of the combined outstanding voting power
of the parent of the surviving entity in such merger, consolidation or similar transaction; or

 

(iii)       any
person or group (within the meaning of Section 13(d) or 14(d) of the Securities Exchange Act of 1934, as amended) that is not an
Affiliate acquires by sale, lease, license or other transaction all or substantially all of the consolidated assets of the Company;
or

 

(iv)       during
any consecutive twelve-month period, the following individuals cease for any reason to constitute a majority of the number of directors
then serving: individuals who, on the date hereof, constitute the Board and any new director (other than a director whose initial
assumption of office is in connection with an actual or threatened election contest, including but not limited to a consent solicitation,
relating to the election of directors of the Company) whose appointment or election by the Board or nomination for election by
the Company's stockholders was approved or recommended by a vote of at least two-thirds (2/3) of the directors then still in office
who either were directors on the date hereof or whose appointment, election or nomination for election was previously so approved
or recommended;

 

provided, however, that solely for
purposes of Section 3.2(b)(i) and 3.2(b)(ii), (x) such transaction or series of transactions shall not constitute a Change of Control
unless a person or group acquires "more than fifty percent (50%)" of combined voting power of the Company and (y) no
such transaction or series of related transactions shall constitute a Change of Control under any clause under this subsection
(b) unless such transaction or transaction also qualifies as a change in ownership or control of the Company within the meaning
of Treasury Regulation Section 1.409A-3(i)(5)(v) or (vi) or a change in ownership of a substantial portion of the Company's assets
within the meaning of Treasury Regulation Section 1.409A-3(i)(5)(vii). For purposes of this Agreement, "Affiliate"
means, with respect to any Person, any other Person directly or indirectly controlling, controlled by or under common control with,
such Person. For purposes of this definition, "control" (including with correlative meanings, the terms
"controlling", "controlled by" or "under common control with"),
as used with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction
of the management and policies of such person, whether through the ownership of voting securities or by contract or otherwise,
and "Person" means an individual, a partnership, a joint venture, a corporation, an association, a trust, an estate or
other entity or organization, including a government or any department or agency thereof.

 

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Section 3.TERMINATION OF EMPLOYMENT

 

Section 3.1Termination by the Company.

 

(a)       Death.
Executive's employment pursuant to this Agreement shall terminate upon Executive's death. In such event any amounts payable to
Executive pursuant to Section 3.2 shall be paid directly to Executive's estate.

 

(b)       Disability.
In the event that Executive is, because of a Disability (as defined), incapable of performing his duties hereunder, the Company
shall have the right to terminate Executive's employment hereunder upon written notice to Executive. "Disability"
or "Disabled" shall mean any physical or mental ailment or incapacity as determined by a licensed physician
agreed to by the Company and Executive (or in the event that Executive and the Company cannot so agree, by a licensed physician
agreed upon by a physician selected by Executive and a physician selected by the Company), which prevents Executive from performing
the duties incident to Executive's employment hereunder which has continued for a period of either (i) one hundred eighty (180)
consecutive days in any 12-month period or (ii) one hundred eighty (180) total days in any 12-month period, and which can reasonably
be expected to be of a permanent duration, or is expected to result in death. Executive shall permit such physician to examine
Executive from time to time prior to Executive being determined to be Disabled, as reasonably requested by the Company, to determine
whether Executive has suffered a Disability hereunder.

 

(c)       Breach
of Agreement. In the event that Executive materially breaches, or fails to comply with, any of the provisions of this Agreement,
the Company shall have the right to terminate Executive's employment hereunder (i) if upon notice from the Company, Executive fails,
in the reasonable judgment of the Board, to cure such breach or failure to comply, if curable, within 30 days, and (ii) immediately
upon notice to Executive if such breach or failure to comply cannot be cured.

 

(d)       Cause.
The Company shall have the right to terminate Executive's employment hereunder for cause. The term "Cause"
shall mean: (i) dishonesty, fraud, or any act involving moral turpitude, which results, or is reasonably likely to result in material
harm to the Company, (ii) willful disobedience or insubordination, which results, or is reasonably likely to result, in material
harm to the Company, (iii) intentional or gross neglect of the performance of his duties as set forth herein, (iv) intentional
withholding or nondisclosure of material information to the Company, (v) acting for a party whose interests are known to the Executive
to be adverse to the Company, which results, or is reasonably likely to result in material harm to the Company, or (vi) being convicted
of a felony. If such alleged event of Cause is susceptible to cure, the Company shall provide 30 days written notice and may only
terminate for Cause if Executive has failed to cure or take reasonable steps to cure such alleged event of Cause, provided, however,
that such reasonable steps, which are taken within 30 days of notice, leads to a cure within no more than 60 days. To terminate
Executive's employment for "Cause" (i) the Company must provide Executive with a termination notice that (a) states that
Executive is being terminated for Cause, (b) indicates the subsection above that the Company is relying on, and (c) provides reasonable
detail of the facts providing the basis for that reliance; and (ii) the Company must provide Executive with a right to be heard
by the Board, with his counsel present if he so elects, before taking such action to terminate his employment. For purposes hereof,
no act shall be deemed "willful" or "intentional' unless done, or omitted to be done, in bad faith or not in the
best interests of the stockholders.

 

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(e)       Involuntary
Termination. The Company shall have the right to terminate Executive's employment hereunder, and Executive shall have the right
to resign at any time, for any reason or for no stated reason.

 

Section 3.2Rights of Executive Upon
Termination.

 

(a)       In
the event that Executive's employment is terminated (i) pursuant to Sections 3.1(a) or (b), (ii) by the Company pursuant to Section
3.1(c), (iii) by the Company with Cause pursuant to Section 3.1(d) or (iv) due to a resignation by Executive pursuant to Section
3.1(e) without Good Reason (as defined), the Company shall have no further obligation to Executive under this Agreement except
for payment to Executive of (A) his accrued, but unpaid Base Salary through the date of termination, (B) any unreimbursed expenses,
subject to any right of set-off, and (c) if terminated pursuant to Sections 3.1(a) or (b), the Company will reimburse Executive
(or his qualified beneficiaries) for the same portion of Executive's family COBRA health insurance premium (if continued coverage
under COBRA is elected) that it paid during the Executive's employment for at least 12 months after the date of Executive's termination
and the Executive or his estate shall be entitled to any unpaid annual bonus from any prior performance year.

 

(b)       In
the event that Executive's employment is terminated (i) by the Company pursuant to Section 3.1(e) without Cause, (ii) due to a
resignation by Executive pursuant to Section 3.4 for Good Reason or (iii) any termination resulting from a Change of Control in
which this Agreement is not assumed by the successor to the Company (if assumption is required for this Agreement to be binding
upon such successor), the Company shall have no further obligation to Executive under this Agreement except for payment to Executive
of (A) his accrued, but unpaid Base Salary through the date of termination, (B) any unreimbursed expenses, subject to any right
of set-off, (C) in the event the Executive elects continued coverage under COBRA, the Company will reimburse Executive for the
same portion of Executive's family COBRA health insurance premium that it paid during the Executive's employment up until the earlier
of (i) the date 12 months after the date of Executive's termination and (ii) the date on which the Executive is eligible
for comparable health benefits with another company or business entity; provided, however, that in the event Executive's employment
is terminated for the reasons stated above in this Section 3.2(b) immediately preceding or within two years following a Change
of Control (including, without limitation, the failure of a successor to assume), the Company will reimburse Executive for the
same portion of Executive's family COBRA health insurance premium that it paid during the Executive's employment up until the earlier
of (i) the date 18 months after the date of Executive's termination and (ii) the date on which the Executive is eligible
for comparable health benefits with another company or business entity, (D) any Target Bonus that has not been paid from the prior
performance year to the extent the Board of Directors has determined in good faith that the goals have been attained, payable within
30 days of the date of termination, (E) a severance payment equal to one year Base Salary plus Target Bonus payable in 12 monthly,
equal installments after termination; provided, however, that in the event Executive's employment is terminated for the reasons
stated above in this Section 3.2(b) immediately preceding or within two years following a Change of Control (including, without
limitation, the failure of a successor to assume), such severance payment will be equal to 18 months Base Salary plus one and a
half times the Target Bonus, payable in a lump sum within five business days of his termination, and (F) the accelerated vesting
of the Shares underlying the Options as provided under Section 2.5, as applicable.

 

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Section 3.3Obligations of Executive
Following Termination. In the event that Executive's employment is terminated pursuant to Section 3.1, Executive shall have
no further obligations hereunder, except that if Executive's employment was terminated under Section 3.1(c), (d) or (e), he shall
(i) provide reasonable cooperation to the Company without charge to the Company (but subject to reimbursement by the Company of
any reasonable out-of-pocket costs incurred by Executive in the course of such cooperation and obligations he may have to a subsequent
employer) as to matters within Executive's personal knowledge, and (ii) remain obligated pursuant to Section 4. For the avoidance
of doubt, "reasonable cooperation" (i) shall mean that (a) it shall not unreasonably interfere with Executive's then
current employment or business activities, (b) it will not extend beyond 12 months following Executive's date of termination of
employment, and (ii) shall not be required by Executive if his engaging in such cooperation would be against Executive's best interests
or otherwise be a conflict for Executive (which would include, among other things, having to act in respect of any matter that
would be adverse to Executive's then current employer).

 

Section 3.4Good Reason; Notice of
Termination.

 

(a)       Resignation
for "Good Reason" shall mean resignation by Executive from his employment hereunder following (i) a material
breach by the Company of any of the terms and provisions of this Agreement, (ii) a diminution in Executive's title, authority,
duties or responsibilities from title, authority, duty or responsibilities consistent with the positions of President and Chief
Executive Officer which, for the sake of clarity, shall include Executive no longer serving as President or Chief Executive Officer
or reporting directly to the Board, or (iii) the relocation of the Executive’s principal place of business by more than 30
miles without the consent of Executive.

 

(b)       The
date of termination of employment without Cause shall be the date specified in a written notice of termination from the Company
to Executive. Resignation by Executive for Good Reason shall be communicated by delivery to the Company of a written notice from
Executive stating that Executive shall resign for Good Reason, stating the particulars thereof, and the effective date of the resignation
being no later than 180 days from the date of the delivery of the notice (and no sooner than 30 business days). The Company shall
have 30 days from the receipt of such notice to effect a cure of the actions or conditions constituting Good Reason, if and to
the extent that such actions or conditions are subject to cure in the reasonable judgment of the Board. Upon a cure or correction
thereof by the Company, such actions shall no longer constitute Good Reason for purposes of this Agreement. Notwithstanding the
foregoing, an event or condition shall not constitute Good Reason for purposes of this Agreement unless Executive terminates his
employment as a result of such event or condition no later than one year after the initial occurrence of such event or condition.

 

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Section 4.COVENANTS

 

Section 4.1Restrictive Covenants.

 

(a)       Non-Competition.
Executive absolutely and unconditionally covenants and agrees that for the period commencing on the Effective Date of this Agreement,
and continuing during his employment with the Company and for a period of 12 months thereafter (the "Restrictive Period"),
Executive will not, either directly or indirectly, solely or jointly with any other person or persons, as an employee, consultant
or advisor, or as an individual proprietor, partner, stockholder, director, officer, joint venturer, investor, lender or in any
other capacity (whether or not engaged in business for profit), engage or participate in a Competing Business. Nothing herein contained
shall, however, prohibit Executive's acquisition or ownership of (i) stock or securities listed on a national or regional securities
exchange or the Nasdaq Stock Market, so long as such investments, in the aggregate, in any particular business enterprise constitute
less than five percent (5%) of the total issued and outstanding stock and securities of such enterprise or (ii) passive investment
in units or other interests in private equity or hedge funds to similar investment vehicles. The term "Competing Business"
means (i) the manufacture and sale of IGIV and hyperimmune IG, (ii) plasma collection, (iii) the manufacture of plasma products
competitive with products manufactured by or under development by the Company, (iv) the manufacture of vaccines to stimulate hyperimmune
donors, and (v) any other specific business being conducted by the Company during the Term. Without limitation to the foregoing
(and the obligations on Executive herein set forth), nothing herein shall restrict the Executive from owning, managing or providing
services to any of the Permitted Entities; provided however, that during Executive's employment, such actions cannot violate
Section 1.2.

 

(b)       Non-Solicitation.
Executive absolutely and unconditionally covenants and agrees that during the Restrictive Period, Executive will not, either directly
or indirectly, for any reason, whether for Executive's own account or for the account of any other person, natural or legal, without
the prior written consent of the Company: (i) solicit, employ, deal with or otherwise interfere with any contract or relationship
of the Company with any employee, officer, director or any independent contractor of the Company, while such person or entity is
employed by or associated with the Company or in the case of former employees within one year of the termination of such person's
employment with the Company during the Restrictive Period, unless such person was terminated without cause by the Company, (ii)
solicit, accept, deal with or otherwise interfere with any contract or relationship of the Company with any independent contractor,
customer, client or supplier of the Company or with any person, natural or legal the effect of which would have an adverse effect
on the Company, or (iii) solicit or otherwise interfere with any existing or proposed contract between the Company and any other
person, natural or legal. Without limitation to the foregoing, Executive may continue to work with any independent contractor,
customer, client or supplier of the Company, or with any person, natural or legal, who or which has had a previous relationship
with any of the Permitted Entities and which may continue to have such a relationship while honoring any commitments or obligations
that it may have with the Company or with whom the Executive had a preexisting relationship prior to the Executive’s employment
with the Company.

 

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(c)        Use
and Treatment of Confidential Information. Executive agrees not to disclose, divulge, publish, communicate, publicize, disseminate
or otherwise reveal, either directly or indirectly, any Confidential Information to any person, natural or legal who is not affiliated
with the Company (i.e., employees, stockholders and directors), otherwise bound by an agreement with the Company or obligation
of confidentiality for the benefit of the Company or in need of such information in connection with services to be provided for
the benefit of the Company. The term "Confidential Information" means all information in any form relating
to the past, present or future business affairs, including without limitation, research, development or business plans, operations
or systems, of the Company or a person not a party to this Agreement whose information the Company has in its possession under
obligations of confidentiality, which is disclosed by the Company to Executive or which is produced or developed while Executive
is an owner of, employee or director of the Company. The term "Confidential Information" shall not include
any information of the Company which (i) becomes publicly known through no wrongful act of Executive, (ii) is received from a person
not a party to this Agreement who is free to disclose it to Executive, or (iii) is lawfully permitted or required to be disclosed
to any governmental agency or is otherwise required to be disclosed by law, subpoena or court order but only to the extent of such
requirement, provided however, that before making such disclosure Executive shall give the Company, to the extent reasonably
possible, an adequate opportunity to interpose an objection or take action to assure confidential handling of such information.
Notwithstanding the foregoing, Executive may disclose Confidential Information without violating this Section 4.1(c) to the extent
reasonably necessary in any dispute proceeding involving Executive's right to enforce the terms of this Agreement. Executive (i)
may make and retain electronic copies of his contact list and calendar without violating this Section 4(d) and (ii) may retain
any documentation relevant to and reasonably necessary to file his income tax returns, in each case. This Agreement also is not
intended to, and shall not in any way prohibit, limit or otherwise interfere with the Executive’s protected rights under
federal, state or local law to without notice to the Company: (i) communicate or file a charge with a government regulator; (ii)
participate in an investigation or proceeding conducted by a government regulator; or (iii) receive an award paid by a government
regulator for providing information.

 

(d)       Ownership
and Return of Confidential Information. All Confidential Information disclosed to or obtained by Executive in tangible form
(including, without limitation, information incorporated in computer software or held in electronic storage media) shall be and
remain the property of the Company. All Confidential Information possessed by Executive at the time he ceases employment with the
Company shall be returned to the Company at such time. Upon the return of Confidential Information, it shall not thereafter be
retained in any form, in whole or in part, by Executive.

 

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(e)       Work
Product Assignment. Executive hereby assigns to the Company all of his right, title and interest in and to, and shall disclose
promptly to the Company, any and all work product, developments, processes, inventions, ideas and discoveries, and works of authorship
developed, discovered, improved, authored, derived, invented or acquired by Executive during the period of his employment by the
Company (collectively, "Work Product"), whether or not during business hours, that are either related to
the scope of Executive's employment by the Company or make use, in any manner, to the dedicated resources of the Company, and agrees
that such Work Product shall be and shall remain the exclusive property of the Company. The parties hereto understand that the
term Work Product includes, but is not limited to, all work product developed, discovered, improved, authored, derived, invented
or acquired by Executive that: (i) incorporates or reflects any Confidential information, (ii) relates to the business of the Company
or the Company's actual or anticipated research and development with respect to Confidential Information, or (iii) results from
any work performed by Executive for the Company. Work Product shall not include anything relating to a Corporate Opportunity (as
defined below) with respect to which the Board has made a determination not to pursue, as described below. Without limitation to
the foregoing (and the obligations on Executive herein set forth), nothing herein shall restrict the ability of any of the Permitted
Entities to continue the conduct of their existing business.

 

(f)       Right
of First Refusal of Business Opportunities for the Company. Notwithstanding anything herein to the contrary, in the event that
during the Restrictive Period Executive is offered or presented or otherwise acquires knowledge of a potential transaction or matter
which involves the business of the Company as then conducted (or is related thereto, or a business the Company is then contemplating
entering) and may be an investment or business opportunity or of prospective economic or competitive advantage to the Company (a
"Corporate Opportunity"), irrespective of whether Executive believes that the Company would be able (financially
or otherwise) or willing to pursue such Corporate Opportunity, and provided the Executive is receiving severance from the Company
during said Restricted Period, Executive shall, prior to taking or failing to take any reasonable action that would prevent the
Company from pursuing such Corporate Opportunity, offer to the Company the right to pursue such Corporate Opportunity for the benefit
of the Company. If the Company, by vote of the Board (not including Executive if then a member of the Board, or any designee or
relative of Executive then a member of the Board), does not determine to pursue such Corporate Opportunity within ten business
days of its presentation to the Company, Executive shall be free to pursue such Corporate Opportunity or otherwise dispose of such
Corporate Opportunity as Executive shall in its discretion determine. For purposes of the foregoing, the business of the Company
shall be limited to the development, manufacturing, marketing and sale of plasma derived products or products produced from plasma.
Furthermore, a Corporate Opportunity shall not include any investment or business opportunity in the medical device business (to
the extent that the Company is not then in the medical device business). Without limitation to the foregoing (and the obligations
on Executive herein set forth), nothing herein shall restrict the ability of any of the Permitted Entities to continue the conduct
of their existing business.

 

(g)       Remedies
upon Breach. The parties acknowledge that Confidential Information and the other protections afforded to the Company by this
Agreement are valuable and unique and that any breach of any of the covenants contained in this Section 4.1 will result in irreparable
and substantial injury to the Company for which it will not have an adequate remedy at law. In the event of a breach or threatened
breach of any of the covenants contained in this Section 4.1, the Company may seek from any court having jurisdiction, with respect
to Executive, temporary, preliminary and permanent injunctive relief prohibiting any such breach, as well reimbursement for all
reasonable costs, including attorneys' fees, incurred in enjoining any such breach (if the Company is successful in getting injunctive
relief; provided however, that in the event that Company is not successful it shall reimburse Executive for his reasonable
costs, including attorneys' fees, related thereto). Any such relief shall be in addition to and not in lieu of any appropriate
relief in the way of monetary damages and equitable accounting of all earnings, profits and other benefits arising from such violation,
which rights shall be cumulative and in addition to any other rights or remedies to which the Company may be entitled.

 

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Section 4.2Non-Disparagement.

 

During the Term, and thereafter, (i) Executive
agrees not to defame, disparage or criticize the Company, its business plan, procedures, products, services, development, finances,
financial condition, capabilities or other aspect of its business, or any of its stockholders in any medium (whether oral, written,
electronic or otherwise, whether currently existing or hereafter created), to any person or entity not affiliated with the Company,
without limitation in time, and (ii) Company agrees not to defame, disparage or criticize Executive in any medium (whether oral,
written, electronic or otherwise, whether currently existing or hereafter created), to any person or entity not affiliated with
the Company, without limitation in time. Notwithstanding the foregoing sentence, the Company and Executive may confer in confidence
with its/his advisors and make truthful statements as required by law. This Section 4.2 shall survive any termination of Executive's
employment and any termination of this Agreement. The Company shall request that each executive of the Company who enters into
an employment agreement be similarly bound. Notwithstanding the foregoing, this Section 4.2 shall not apply to truthful statements
made in the course of sworn testimony in administrative, judicial or arbitral proceedings or normal competitive statements.

 

Section 4.3No Other Severance Benefits.

 

Except as specifically set forth in this
Agreement, Executive covenants and agrees that he shall not be entitled to any other form of severance benefits from the Company,
including, without limitation, benefits otherwise payable under any of the Company's regular severance policies, in the event his
employment hereunder ends for any reason and, except with respect to obligations of the Company expressly provided for herein,
upon payment of any severance payable to Executive hereunder, as a condition to receiving any severance payable to Executive hereunder,
Executive unconditionally releases the Company and its subsidiaries and affiliates, and their respective directors, officers, employees
and stockholders, or any of them, from any and all claims, liabilities or obligations under any severance or termination arrangements
of the Company or any of its subsidiaries or affiliates other than (i) rights to enforce the terms of this Agreement that are intended
to survive its termination, including, without limitation, Section 3.2 and 12.6 and (ii) vested rights under any other employee
benefit plan, rights to indemnification under this Agreement or any other Indemnification Agreement, and rights with respect to
Options or other equity awards. The Company shall provide Executive such release no later than three days following Executive's
termination of employment, which will require that Executive (i) execute and deliver such release to the Company within the time
prescribed therein, but in no event later than 50 days after the date of Executive's termination of employment, and (ii) not revoke
such release pursuant to any revocation rights afforded by law.

 

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Section 5.TAX PROVISIONS

 

Section 5.1Section 409A.

 

(a)       It
is the intention of the parties that this Agreement be exempt from or comply with the provisions of Section 409A of the Internal
Revenue Code of 1986, as amended (the "Code"), and Treasury Regulations and other Internal Revenue Service guidance promulgated
thereunder (the "Section 409A"). Accordingly, this Agreement, including, but not limited to, any provisions
relating to severance payments, may be amended from time to time as may be necessary or appropriate to comply with Section 409A.
All references hereunder to termination of the Executive's employment with the Company shall mean "separation from service"
(as such term is defined in Section 409A). Executive's right to receive any installment payments pursuant to this Agreement shall
be treated as a right to receive a series of separate and distinct payments. Further, notwithstanding anything else to the contrary
in this Agreement, if (i) Executive is entitled to receive payments or benefits under this Agreement by reason of his separation
from service other than as a result of his death, (ii) Executive is a "specified employee" (within the
meaning of Section 409A), for the period in which the payment or benefits would otherwise commence, and (iii) such payment or benefit
would otherwise subject Executive to any tax, interest or penalty imposed under Section 409A if the payment or benefit would commence
within six months of a termination of Executive's employment with the Company, then such payment or benefit required under this
Agreement will not commence until the first day that is at least six months after the termination of Executive's employment and
such first payment will include all amounts that would have been payable if no delay had been required, , plus an amount (the “Delayed
Earnings Payment”) equal to the greater of (i) interest computed from the date on which each such delayed payment
otherwise would have been made to Executive until the date of payment, computed at the national average annual rate of interest
payable on jumbo six-month bank certificates of deposit, as quoted in the business section of the most recently published Sunday
edition of The New York Times preceding Executive’s separation from service, or (ii) the actual earnings of the rabbi trust
established pursuant to Section 5.1(b) below.

 

(b)       In
the event that Executive is subject to the six-month delay referred to above, the Company shall, within five business days of the
date of termination, establish an irrevocable grantor trust (a "rabbi trust"), appoint a federally or state
chartered bank or trust company as the trustee for such rabbi trust and contribute that amount of funds to satisfy the compensation
that is payable on the six month anniversary in the rabbi trust. The needed assets of such rabbi trust shall be used solely to
make the severance payments (and Delayed Earnings Payment set forth in Section 5.1(a)) to the Executive as required under this
Agreement (or to reimburse the Company for severance payments and Delayed Earnings Payment it makes to the Executive); or to satisfy
the claims of the Company's unsecured general creditors in the event of the Company's insolvency or bankruptcy. The rabbi trust
may be terminated and any remaining assets therein shall revert to the Company after the Executive has received all of the severance
payments and Delayed Earnings Payment to which he is entitled hereunder. Notwithstanding the foregoing, no rabbi trust shall be
established if the funding of the rabbi trust would subject the Executive to acceleration of taxation and tax penalties under Section
409A(b) of the Code.

 

    - 12 - 

     

    

 

Section 5.2Excess Parachute Excise
Tax. Anything in this Agreement to the contrary notwithstanding, in the event it shall be determined that any payment, award,
benefit or distribution (including any acceleration) by the Company or any entity which effectuates a transaction described in
Section 280G(b)(2)(A)(i) of the Code to or for the benefit of the Executive (whether pursuant to the terms of this Agreement or
otherwise, but determined before application of any reductions required pursuant to this Section 5.2) (a "Payment")
would be subject to the excise tax imposed by Section 4999 of the Code or any interest or penalties are incurred with respect to
such excise tax by the Executive (such excise tax, together with any such interest and penalties, are hereinafter collectively
referred to as the "Excise Tax"), the Company will automatically reduce such Payments to the extent, but
only to the extent, necessary so that no portion of the remaining Payments will be subject to the Excise Tax, unless the amount
of such Payments that the Executive would retain after payment of the Excise Tax and all applicable Federal, state and local income
taxes without such reduction would exceed the amount of such Payments that the Executive would retain after payment of all applicable
Federal, state and local taxes after applying such reduction. Unless otherwise elected by the Executive, to the extent permitted
under Code Section 409A, such reduction shall first be applied to any severance payments payable to the Executive under this Agreement,
then to the accelerated vesting on any equity awards, starting with stock options and stock appreciation rights reversing accelerated
vesting of those options and stock appreciation rights with the smallest spread between fair market value and exercise price first
and after reversing the accelerated vesting of all stock options and stock appreciation rights, thereafter reversing accelerated
vesting of restricted stock, restricted stock units and performance shares, performance units or other similar equity awards on
a pro rata basis.

 

All determinations required to be made under
this Section 5.2, including the assumptions to be utilized in arriving at such determination, shall be made by the Company's independent
auditors or such other certified public accounting firm of national standing reasonably acceptable to the Executive as may be designated
by the Company (the "Accounting Firm") which shall provide detailed supporting calculations both to the
Company and the Executive within 15 business days of the receipt of notice from the Executive that there has been a Payment, or
such earlier time as is requested by either the Company or the Executive. All fees and expenses of the Accounting Firm shall be
borne solely by the Company. If the Accounting Firm determines that no Excise Tax is payable by the Executive, it shall furnish
the Executive with a written opinion to such effect. Any determination by the Accounting Firm shall be binding upon the Company
and the Executive.

 

Section 6.GENERAL PROVISIONS

 

Section 6.1Notice.

 

Any notice required or permitted hereunder
shall be given in writing and shall be deemed effectively given upon the earliest of (i) personal delivery, (ii) actual
receipt or (iii) the third full day following deposit in the United States mail with postage prepaid, addressed to the Company
at its principal offices, to the attention of the Board with a copy to the Secretary, or, if to Executive, to such home or other
address as Executive has most recently provided in writing to the Company. The parties also agree, in addition, to provide a copy
of such communication via email, as an additional courtesy copy which, in and of itself, shall not constitute notice.

 

    - 13 - 

     

    

 

Section 6.2Assignment; Binding Effect.

 

Neither Executive nor the Company may assign
this Agreement without the prior written consent of the other party, except that the Company may assign this Agreement to any affiliate
thereof, or to any subsequent purchaser of the Company or all or substantially all of the assets of the Company, or by operation
of law. This Agreement shall automatically be deemed assigned to an acquirer in the event of a Change of Control. This Agreement
shall be binding upon the heirs, executors, and administrators of Executive.

 

Section 6.3Choice of Law; Consent
to Jurisdiction; Waiver of Jury Trial.

 

THIS AGREEMENT SHALL BE GOVERNED BY, CONSTRUED
IN ACCORDANCE WITH AND ENFORCED UNDER THE LAWS OF THE STATE OF NEW JERSEY. ALL SUITS, ACTIONS OR PROCEEDINGS ARISING OUT OF OR
RELATING TO THIS AGREEMENT, SHALL BE BROUGHT IN A STATE OR FEDERAL COURT LOCATED IN THE STATE OF NEW JERSEY, WHICH COURTS SHALL
BE THE EXCLUSIVE FORUM FOR ALL SUCH SUITS, ACTIONS OR PROCEEDINGS. EXECUTIVE AND THE COMPANY HEREBY WAIVE ANY OBJECTION WHICH HE
OR IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE IN ANY SUCH COURT OR ANY SUCH SUIT, ACTION OR PROCEEDING. EXECUTIVE AND
THE COMPANY HEREBY IRREVOCABLY CONSENT AND SUBMIT THEMSELVES TO THE JURISDICTION OF THE COURTS OF THE STATE OF NEW JERSEY FOR THE
PURPOSES OF ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF THIS AGREEMENT. EXECUTIVE AND THE COMPANY HEREBY WAIVE ANY RIGHT TO A
TRIAL BY JURY IN ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT AND AGREE THAT ANY SUCH SUIT, ACTION
OR PROCEEDING SHALL BE TRIED BEFORE A COURT AND NOT BEFORE A JURY. EXECUTIVE SHALL BE REIMBURSED FOR HIS REASONABLY INCURRED LEGAL
FEES AND EXPENSES IF HE PREVAILS ON ANY MATERIAL ISSUE WHICH IS A SUBJECT OF SUCH SUIT, ACTION OR PROCEEDING.

 

Section 6.4Amendment; Waiver.

 

No modification, amendment or termination
of this Agreement shall be valid unless made in writing and signed by the parties hereto, and approved by the Board (but not including
Executive). Any waiver by any party of any violation of, breach of or default under any provision of this Agreement, by the other
party shall not be construed as, or constitute, a continuing waiver of such provision, or waiver of any other violation of breach
of or default under any other provision of this Agreement.

 

    - 14 - 

     

    

 

Section 6.5Withholding of Taxes.

 

The Company may withhold from any amounts
payable under this Agreement all federal, state, city or other taxes as shall be required to be withheld pursuant to any law or
government regulation or ruling.

 

Section 6.6Severability.

 

Any provision of this Agreement which is
prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent possible without invalidating
the remaining provisions hereof or affecting the validity or enforceability of such provision in any other jurisdiction.

 

Section 6.7Survival of Certain Obligations.

 

The obligations of the Company and Executive
set forth in this Agreement which by their terms extend beyond or survive the termination of the Term shall not be affected or
diminished in any way by the termination of the Term.

 

Section 6.8Headings.

 

The headings in this Agreement are intended
solely for convenience and shall be disregarded in interpreting it.

 

Section 6.9Entire Agreement.

 

On the Effective Date, this Agreement sets
forth the entire understanding of the parties to this Agreement regarding the subject matter hereof and supersedes all prior agreements,
arrangements, communications, representations and warranties, whether oral or written, between the parties regarding the subject
matter hereof. Any prior employment or similar agreement between Executive and the Company (or any subsidiary thereof) (including
the Original Employment Agreement, each, a "Prior Agreement"), whether written or oral, shall be null and
void from and after the Effective Date of this Agreement and Executive shall not be entitled to any rights or remedies under, or
payment of any amounts pursuant to, any Prior Agreements, and neither the Company nor any subsidiary shall have any further obligation
to Executive under any Prior Agreements.

 

Section 6.10Third Parties.

 

Nothing expressed or implied in this Agreement
is intended, or shall be construed, to confer upon or give any person or entity other than the Company and Executive any rights
or remedies under, or by reason of, this Agreement.

 

Section 6.11Attorney Fees.

 

The Company agrees to pay or reimburse Executive's
legal fees incurred in connection with the negotiation and review of this Employment Agreement in an amount up to $10,000, which
shall be paid within 30 days of the Company's receipt of an invoice. All reasonable legal fees paid or incurred by Executive in
any litigation or dispute to enforce Executive's rights hereunder shall be paid or reimbursed by the Company if Executive is the
prevailing party in such litigation or dispute.

 

    - 15 - 

     

    

 

Section 6.12Indemnification.

 

The Company shall, to the maximum extent
permitted by law, indemnify and hold Executive harmless against, and shall purchase director and officer indemnity insurance on
behalf of Executive for, expenses, including reasonable attorney's fees (the attorney to be selected by Executive, but subject
to the consent of the Company which shall not unreasonably be withheld or delayed), judgments, fines, settlements and other amounts
actually and reasonably incurred in connection with any proceeding or claim (or threatened proceeding or claim) arising by reason
of Executive's employment by, or service as a member of the Board of, the Company. The Company shall advance to Executive any expense
incurred in defending any such proceeding or claim (or threatened proceeding or claim) to the maximum extent permitted by law.
This section shall be read in conjunction with the Indemnification Agreement between the parties and to the extent there is any
conflict between said agreements, the Executive shall be entitled to the maximum level of indemnification by the Company.

 

Section 6.13Counterparts.

 

This Agreement may be executed in counterparts,
and all of such counterparts (including facsimile or PDF), when separate counterparts have been executed by the parties hereto,
shall be deemed to be one and the same agreement.

 

[Signature Page Follows]

 

    - 16 - 

     

    

 

IN WITNESS WHEREOF,
the Company and Executive have executed this Employment Agreement as of the date first written above.

 

	 	ADMA Biologics, Inc.
	 	 
	 	/s/ Steven A. Elms
	 	By:      Steven A. Elms
	 	Title:   Chairman of the Board of Directors
	 	 
	 	 
	 	EXECUTIVE
	 	 
	 	/s/ Adam S. Grossman
	 	
        Adam S. Grossman

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