Document:

Exhibit 10.2

 

 

CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [****],

 HAS BEEN OMITTED BECAUSE IT IS NOT MATERIAL AND WOULD LIKELY
CAUSE

 COMPETITIVE HARM TO THE REGISTRANT, IF PUBLICLY DISCLOSED.

 

Investment Agreement

 

This Investment Agreement (this “Agreement”)
is entered into between CCC Marketing Co., Ltd. (the “CCC”) and Re.Ra.Ku. Co. Ltd. (“Re.Ra.Ku.”)
and Kouji Eguchi (“Eguchi”).

 

Article 1 (Purpose of this Agreement)

 

The purpose of this Agreement is for CCC
to contribute to Re.Ra.Ku. set forth in Article 2 (the “Investment”) in order to enhance the Re.Ra.Ku.’s
enterprise value and mutually cooperate for achievement of Re.Ra.Ku.’s initial public offering.

 

Article 2 (Description of Investment)

 

Re.Ra.Ku. shall issue and CCC shall acquire
new common stocks as set forth below (the “Stock”) in accordance with resolutions of the extraordinary shareholders’
meeting, class meeting of common shareholders, class meeting of Class A shareholders, and meeting of the board of directors held
on December 21, 2016. Re.Ra.Ku. has conducted a 100-for-1 stock split of its Stock effective as of the end of December 21, 2016,
and such the stock split is reflected in the description below.

 

	Company’s Name	Re.Ra.Ku. Co. Ltd.
	Number of Authorized Shares	100,000 shares
	Class and Amount of Shares Subject to Issuance	25,000 shares of common stock
	Issuing Price	JPY [****] per share
	Amount of Contribution for Issued Shares	JPY [****]
	Due Date for Contribution	December 28, 2016
	Relevant Provision of Articles of Incorporation	
        Article 7 (Restriction on Transfer of Shares)

        Transferring any shares of the Company
        shall be subject to approval by the board of directors of the Company.

 

Article 3 (Representations and Warranties
of Facts by Re.Ra.Ku. and Eguchi)

 

1. As a fundamental condition
of the execution of this Agreement and the investment by CCC, each of Re.Ra.Ku. and Eguchi represents and warrants to CCC as truth
the following facts:

 

(1) Re.Ra.Ku. has provided to
CCC any documents requested by CCC prior to the execution of this Agreement, and all of those documents are the latest;

 

(2) Re.Ra.Ku. is a
corporation legally incorporated under the laws of Japan and validly existing, and has full authority necessary to conduct
the business. Re.Ra.Ku. has necessary capacity and authority to execute this Agreement and perform its responsibility, and no
execution and performance violates the Articles of Incorporation of Re.Ra.Ku. or any other rules or contracts to which
Re.Ra.Ku. is a party, and all processes necessary for license, permission, filing, etc., in connection with the execution or
performance are completed and do not breach any conditions if such conditions are attached;

 

     

     

    

 

(3) resolutions of each of meetings
of shareholders and the board of directors, set forth in Article 2, necessary to carry out the Investment, have been rightly and
lawfully adopted;

 

(4) as of the execution date
of this Agreement, Re.Ra.Ku., Eguchi, or any interested persons, etc., shareholders or clients, etc. of the Re.Ra.Ku. or Eguchi
are not an anti-social force or quasi-anti-social force (“Anti-Social Force, etc.”), are not in cooperation with or
involved in keeping or operation of Anti-Social Force, etc. through a supply of money or the like to the Anti-Social Force, etc.,
or do not have any relations with the Anti-Social Force, etc.. Additionally, Re.Ra.Ku. and Eguchi hereby affirm that neither Re.Ra.Ku.
nor Eguchi will have any relationships with Anti-Social Forces, etc.;

 

(5) representations and warranties
made by Re.Ra.Ku. and Eguchi hereunder and documents and information provided by Re.Ra.Ku. and Eguchi for the execution of this
Agreement are true and accurate and not missing any necessary facts the lack of which could mislead in all material respects; and

 

(6) with respect to potential
stocks issued by Re.Ra.Ku., the matters stipulated in the corporate register provided by Re.Ra.Ku. as of September 23, 2016 and
the information provided as of December 21, 2016 are full and complete, and no other potential stocks exist.

 

2. CCC shall make Re.Ra.Ku.
recorded to CCC’s shareholder registry as a shareholder promptly after the Investment has been carried out.

 

Article 4 (Matters Subject to Prior
Approval)

 

Re.Ra.Ku. shall obtain a prior approval
in writing by CCC for the following matter:

 

(1) Filing of dissolution,
bankruptcy, institution of corporate reorganization (kaisha kosei), the institution of civil rehabilitation (minji saisei),
institution of corporate liquidation, institution of special liquidation (tokubetsu seisan) or any institution of other
bankruptcy proceedings; and

 

(2) Repurchase of shares by
Re.Ra.Ku.; and

 

(3) merger, share exchange,
share transfer (kabushiki iten), transfer of business, assumption of business, company split (kaisha bunkatsu) or
any consolidation of companies or any alliance by capital with third parties.

 

Article 5 (Matters Subject to Prior
Notification)

 

Re.Ra.Ku. shall notify CCC of facts, in
case of matters under the following (1) through (7), prior to a resolution by the board of directors; in case of a matter under
the following (8), promptly after any anticipation of the facts, in case of any hardship to anticipate, promptly after the event
occurs:

 

     

     

    

 

(1) determination or change
of anticipated timing of listing to any public stock market (including the listing to any stock exchange outside of Japan by depositary
receipts) (the “IPO”), an anticipated market for the public offering, or underwriter company;

 

(2) elimination of treasury
stock, decrease in paid-in capital, or any other change in paid-in capital (including decrease in statutory reserve);

 

(3) sale of significant assets;

 

(4) substantial amount of loan,
and substantial amount of repayment of loans;

 

(5) personnel changes affecting
operation;

 

(6) amendment to the articles
of incorporation and other matters for a special resolution at a meeting of shareholders; and

 

(7) any other matters that
materially affect operation of Re.Ra.Ku.

 

Article 6 (Matters Subject to Report)

 

Re.Ra.Ku. shall report to CCC the following
matters promptly:

 

(1) matters recorded in the
corporate register (delivery of a copy certifying entire items of the corporate register after the completion of update of the
record);

 

(2) monthly balance (delivery
of trial balance);

 

(3) description of closing
balance and tax return (delivery of balance sheet, profit/loss statement, form of tax return, and their supplemental notes);

 

(4) changes in constituents
of shareholders (delivery of shareholders’ registry after the change); and

 

(5) status of business performance,
prospective business plan, and anything representing company’s present status (delivery of business plan, projection of profit/loss,
and projection of working capital).

 

Article 7 (Resignation or Departure
of Directors)

 

1. Unless permitted by CCC
beforehand, Eguchi shall not resign a director of Re.Ra.Ku. before the end of his term or refuse reappointment as a director of
Re.Ra.Ku. at the end of his term.

 

2. Eguchi shall not, whether
directly or indirectly, engage in any business competing with Re.Ra.Ku., by himself or through any third parties, during his term
as a position of director, corporate auditor or employee of Re.Ra.Ku., and for two years after Eguchi is no longer at the position
of director, corporate auditor or employee of Re.Ra.Ku. due to his own fault.

 

     

     

    

 

3. The preceding paragraph
shall include, but not limited to, cases where Eguchi become an officer or employee of a company, legal entity, or partnership,
etc., engaging in the same business as or competing with the one operated by Re.Ra.Ku. and other affiliates.

 

Article 8 (Investigation)

 

As it may be necessary, CCC may investigate
accounting books of Re.Ra.Ku. and other important documents at the head office or other offices of Re.Ra.Ku., and demand Re.Ra.Ku.
to report the status of its business activity. In case Re.Ra.Ku. is requested to provide documents or books by CCC or report the
status of its business activity, Re.Ra.Ku. shall respond in an immediate manner.

 

Article 9 (Right to Attend Meeting of
Board of Directors)

 

1. If CCC requests, a person
who is designated by the CCC may attend a meeting of the board of directors of Re.Ra.Ku. and similar important management meetings
as an observer, and may provide an opinion.

 

2. When Re.Ra.Ku. holds any
meeting set forth in the foregoing paragraph, Re.Ra.Ku. shall notify the person set forth in the foregoing paragraph of the meeting
and its proposals by e-mail or telephone no later than one (1) week; provided, however, that Re.Ra.Ku. is allowed to call the meeting
on an “as soon as possible” basis, if it is urgent.

 

Article 10 (Confidentiality)

 

CCC and Re.Ra.Ku. shall maintain confidential
any non-public information in connection with the counterparty that has been received pursuant to this Agreement, and shall not
disclose to any third party without the counterparty’s prior consent or reasonable grounds; provided, however, that non-public
information shall not include any information that was in the public domain at the time when CCC and/or Re.Ra.Ku. received the
information, any information that became public without CCC’s fault after the receipt of the information, or any information
that the CCC and/or lawfully received from any third party.

 

Article 11 (End of this Agreement)

 

1. This Agreement shall end
when any of the following events occurs:

 

(1) event where all the parties
hereto reach an agreement whereby this Agreement will be terminated;

 

(2) event where the IPO of Re.Ra.Ku.
is completed; or

 

(3) event where CCC has not
become a shareholder or is no longer a shareholder.

 

     

     

    

 

2. The end of this Agreement
shall be effective prospectively, and shall not affect any rights and obligations that arose out of this Agreement prior to the
consummation hereof, except for cases otherwise set forth herein.

 

Article 12 (Demand for Purchase of Stock)

 

1. If Re.Ra.Ku. and/or Eguchi
fall into any of the following events, CCC may demand Re.Ra.Ku. and/or Eguchi to purchase all or part of stocks owned by CCC at
a price of the issuing price set forth in Article 2 or fair price, whichever is higher:

 

(1) event where either of Re.Ra.Ku.
or Eguchi fails to perform any obligation hereunder and fails to cure no later than 30 days after receiving a demand for cure made
by CCC; and

 

(2) event where warranties hereunder
are untrue in material respects, or an event where Re.Ra.Ku. and/or Eguchi fails to provide information that is considered as necessary
and significant in order for CCC to contemplate whether to carry out the Investment.

 

2. In applying the foregoing
paragraph, if Re.Ra.Ku. may not repurchase its own shares due to the laws and regulations after a demand for repurchase of shares
owned by CCC, Re.Ra.Ku. shall promptly designate a third party who purchases the shares at the price set forth in the foregoing
paragraph and cause the third party to purchase the shares owned by CCC.

 

Article 13 (Compensation for Damages)

 

If CCC incurred any damages due to the
breach of any obligations hereunder or representations and warranties by Re.Ra.Ku. or Eguchi, Re.Ra.Ku. shall compensate for such
damages and expenses (including attorney costs to the extent reasonably necessary for CCC to deal with them) that are in the scope
of a reasonable causation, out of damages incurred by CCC.

 

Article 14 (Consultation/Others)

 

1. If it is likely that any
performance pursuant to each of the provisions hereof becomes difficult, Re.Ra.Ku. and Eguchi shall inform CCC of that fact promptly,
and CCC, Re.Ra.Ku. and Eguchi shall discuss and determine how to address it.

 

2. Any matters not stipulated
in this Agreement and any doubts arising out of interpretation of this Agreement shall be discussed and determined by CCC, Re.Ra.Ku.,
and Eguchi.

 

3. No parties shall assign,
set an encumbrance in, or dispose of any rights or obligations in connection with this Agreement to any third parties without prior
written consent by the other party.

 

4. This Agreement shall be
governed by the laws of Japan.

 

5. The Tokyo District Court
shall have exclusive first instance jurisdiction over any and all disputes among the parties hereto arising out of this Agreement.

 

     

     

    

  

[Intentionally left blank]

 

     

     

    

 

IN WITNESS WHEREOF, the parties hereto have prepared this Agreement in triplicate, and each of the CCC, Re.Ra.Ku., and Eguchi
has held one copy.

 

December 22, 2016

 

	CCC:	
        16-17 Nampeidaicho, Shibuya-ku, Tokyo

        CCC Marketing Co., Ltd.

        Nobu Takeda, Representative Director [Stamped
        Seal]

	 	 
	Re.Ra.Ku.:	
        Column Minami-Aoyama 4F, 7-1-5 Minami-Aoyama,
        Minato-ku, Tokyo

        Re.Ra.Ku. Co., Ltd.

        Kouji Eguchi, Representative Director [Stamped
        Seal]

	 	 
	Eguchi:	
        3-5-1-1504, Itabashi-ku, Tokyo

        Kouji Eguchi [Stamped Seal]Exhibit
10.1

 

November
__, 2020

 

___________

As
Holder of Common Stock Purchase Warrants of Cancer Genetics, Inc.

 

	 	Re:	Amendment
    of Purchase Agreement

 

Dear
Holder:

 

Cancer
Genetics, Inc. (the “Company”) desires to amend the Securities Purchase Agreement, dated as of May 19, 2016,
between the Company and the purchasers signatory thereto (the “May 2016 Purchase Agreement”) and the Securities
Purchase Agreement, dated as of September 8, 2016, between the Company and the purchasers signatory thereto pursuant to which
the Company issued the Exchange Warrants (as defined below) (the “September 2016 Purchase Agreement” and, collectively
with the May 2016 Purchase Agreement, the “Purchase Agreements” and, each, a “Purchase Agreement”).
Each Purchase Agreement provides that it may be modified and amended in a written instrument signed by the Company and holders
of at least 67% of the issuable Warrant Shares (as defined in the respective Purchase Agreements).

 

We
understand that you (the “Holder”) are a holder of (i) Common Stock purchase warrants of the Company with an
Exercisability Date of November 25, 2016 issued pursuant to the May 2016 Purchase Agreement and/or (ii) Common Stock purchase
warrants of the Company with an Exercisability Date of March 14, 2017 issued pursuant to the September 2016 Purchase Agreement
(the “Exchange Warrants”). Capitalized terms not otherwise defined herein shall have the meanings set forth
in the Purchase Agreements. 

 

By
executing this letter agreement (this “Agreement”), the Holder irrevocably (i) agrees that each Purchase Agreement,
as applicable, shall be modified and amended to delete, in its entirety, Section 4.11(b) of each Purchase Agreement, and (ii)
solely with respect to this Agreement, waives, for itself, the provisions of Section 4.12 of each Purchase Agreement, as applicable,
provided, however, that the waiver in this clause (ii) is conditional upon the Company’s acknowledgement and agreement to
the Holder that, if any holder of Exchange Warrants communicates to the Company within 30 days of the date of the 8-K Filing (as
defined below) that such holder wishes to exchange such holder’s Exchange Warrants for Exchange Shares, the Company shall
effect a Warrant Exchange for such holder using the same ratio as contemplated pursuant to the Warrant Exchange set forth herein.
This amendment shall be effective, (a) as to the May 2016 Purchase Agreement, immediately upon the Company’s receipt of
Other Agreements (as defined below) from Other Holders (as defined below) who hold, with the Holder, an aggregate of at least
67% of the Warrant Shares issuable pursuant to Warrants issued pursuant to the May 2016 Purchase Agreement and (b) as to the September
2016 Purchase Agreement, immediately upon the Company’s receipt of Other Agreements (as defined below) from Other Holders
(as defined below) who hold, with the Holder, an aggregate of at least 67% of the Warrant Shares issuable pursuant to Warrants
issued pursuant to the September 2016 Purchase Agreement (the latter such date being the “Effective Date”).

 

    	 

    	 

    

 

In
addition, the Company hereby offers you the opportunity to exchange in full all of the Exchange Warrants held by you (the “Warrant
Exchange”), in exchange for 0.2 shares of Common Stock (“Exchange Shares”) for each share of Common
Stock issuable upon Exercise of the Exchange Warrant. Notwithstanding anything herein to the contrary, in the event that the Warrant
Exchange would cause the Holder to exceed the Beneficial Ownership Limitation in the Exchange Warrant, the Company shall only
issue such number of shares of Common Stock to the Holder that would not cause the Holder to exceed the Beneficial Ownership Limitation
with the balance to be held in abeyance until written notice from the Holder that the balance (or portion thereof) may be issued
in compliance with the Beneficial Ownership Limitation. The Company agrees that the Warrant Exchange shall in no event result
in the Holder beneficially owning more than the Beneficial Ownership Limitation. Within two Trading Days of the Effective Date,
the Company shall deliver the Exchange Shares to the DTC account of the Holder via the DWAC system in accordance with the DTC
Instructions provided by the Holder on the Signature page hereto. The terms of the Warrant Exchange, including but not limited
to the obligations to deliver the Exchange Shares, shall remain in effect as if the acceptance of this offer was a formal Notice
of Exercise (including but not limited to any liquidated damages and compensation in the event of late delivery of the Exchange
Shares). The Holder hereby acknowledges that upon receipt of the Exchange Shares, such Holder’s Exchange Warrants exchanged
for such Exchange Shares shall be deemed to be cancelled without further action required by either the Company or the Holder.
Nonetheless, the Holder shall use reasonable commercial efforts to return the original Exchange Warrants to the Company for cancellation,
or to confirm in writing to the Company that the Exchange Warrants have been destroyed, as promptly as practical.

 

The
Exchange Shares are being issued in a cashless exchange for the Exchange Warrants and the parties acknowledge and agree that in
accordance with Section 3(a)(9) of the Securities Act, the holding period of the Exchange Shares under Rule 144 shall be tacked
on to the holding period of the Exchange Warrants. The Company agrees not to take any position contrary to the aforementioned
representation.

 

Expressly
subject to the paragraph immediately following this paragraph below, Holder may accept this offer by signing this letter below,
with such acceptance constituting Holder’s exchange in full of the Exchange Warrant for Exchange Shares, subject to the
Beneficial Ownership Limitation effective at 8:00 a.m. (New York City time) on the day after the Effective Date.

 

Additionally,
the Company agrees to the representations, warranties and covenants set forth on Annex A attached hereto and the Holder
agrees to the representations, warranties and covenants set forth on Annex B attached hereto.

 

On
or before 9:00 a.m. (New York City time) on the business day following the Effective Date, the Company shall file a Current Report
on Form 8-K with the Securities and Exchange Commission disclosing all material terms of the transactions contemplated hereunder,
including a form of this agreement as an exhibit thereto (“8-K Filing”). From and after the issuance of the
8-K Filing, the Company represents to the Holder that it shall not be in possession of any material, nonpublic information received
from the Company, any of its Subsidiaries or any of their respective officers, directors, employees or agents that is not disclosed
in the 8-K Filing. In addition, effective upon the filing of the 8-K Filing, the Company acknowledges and agrees that any and
all confidentiality or similar obligations under any agreement, whether written or oral, between the Company, any of its Subsidiaries
or any of their respective officers, directors, employees or agents, on the one hand, and the Holder or any of its affiliates,
on the other hand, shall terminate. The Company shall not, and shall cause each of its Subsidiaries and its and each of their
respective officers, directors, employees and agents, not to, provide the Holder with any material, nonpublic information regarding
the Company or any of its Subsidiaries from and after the Effective Date without the express prior written consent of the Holder.
To the extent that the Company, any of its Subsidiaries or any of their respective officers, directors, employees or agents, delivers
any material, non-public information to the Holder without the Holder’s consent, the Company hereby covenants and agrees
that the Holder shall not have any duty of confidentiality with respect to, or a duty not to trade on the basis of, such material,
non-public information.

 

    	2

    	 

    

 

The
Company acknowledges and agrees that the obligations of the Holder under this letter agreement are several and not joint with
the obligations of any other holder of Common Stock purchase warrants of the Company (each, an “Other Holder”)
under any other agreement related to the amendment of the Purchase Agreements or the exchange of such warrants (each, an “Other
Agreement”), and the Holder shall not be responsible in any way for the performance of the obligations of any Other
Holder or under any such Other Agreement. Nothing contained in this letter agreement, and no action taken by the Holder pursuant
hereto, shall be deemed to constitute the Holder and the Other Holders as a partnership, an association, a joint venture or any
other kind of entity, or create a presumption that the Holder and the Other Holders are in any way acting in concert or as a group
with respect to such obligations or the transactions contemplated by this letter agreement and the Company acknowledges that the
Holder and the Other Holders are not acting in concert or as a group with respect to such obligations or the transactions contemplated
by this letter agreement or any Other Agreement. The Company and the Holder confirm that the Holder has independently participated
in the negotiation of the transactions contemplated hereby with the advice of its own counsel and advisors. The Holder shall be
entitled to independently protect and enforce its rights, including, without limitation, the rights arising out of this letter
agreement, and it shall not be necessary for any Other Holder to be joined as an additional party in any proceeding for such purpose.

 

The
Company hereby represents and warrants as of the date hereof and covenants and agrees from and after the date hereof until 30
days following the Effective Date that none of the terms offered to any Other Holder with respect to any Other Agreement (or any
amendment, modification or waiver thereof), is or will be more favorable to such Other Holder than those of the Holder and this
letter agreement. If and whenever on or after the date hereof during the period described above, the Company enters into an Other
Agreement , with more favorable terms, then (i) the Company shall provide notice thereof to the Holder promptly following the
occurrence thereof and (ii) the terms and conditions of this letter agreement shall be, without any further action by the Holder
or the Company, automatically amended and modified in an economically and legally equivalent manner such that the Holder shall
receive the benefit of the more favorable terms and/or conditions (as the case may be) set forth in such Other Agreement (including
the issuance of additional Exchange Shares or the issuance of new Common Stock purchase warrants to the Other Holder), including,
without limitation, the same price discount and the same issuance of new warrants as in the Other Agreement, provided that upon
written notice to the Company at any time the Holder may elect not to accept the benefit of any such amended or modified term
or condition, in which event the term or condition contained in this letter agreement shall apply to the Holder as it was in effect
immediately prior to such amendment or modification as if such amendment or modification never occurred with respect to the Holder.
The provisions of this paragraph shall apply similarly and equally to each Other Agreement.

 

Except
for (x) shares of Common Stock issuable by the Company to Other Holders pursuant to Other Agreements on terms substantially identical
to the terms of this Agreement and (y) securities issuable pursuant to clause (b) of the definition of Exempt Issuance (as defined
in the Purchase Agreements), from the date hereof until five Trading Days after the Effective Date, neither the Company nor any
Subsidiary shall (i) issue, enter into any agreement to issue or announce the issuance or proposed issuance of any shares of Common
Stock or Common Stock Equivalents, or (ii) file any registration statement or any amendment or supplement thereto.

 

Except
as expressly set forth herein, each party shall pay the fees and expenses of its advisers, counsel, accountants and other experts,
if any, and all other expenses incurred by such party incident to the negotiation, preparation, execution, delivery and performance
of this letter agreement. The Company shall pay all transfer agent fees, stamp taxes and other taxes and duties levied in connection
with the delivery of any Exchange Shares. This letter agreement shall be governed by the laws of the State of New York without
regard to the principles of conflicts of law thereof.

 

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

 

    	3

    	 

    

 

To
accept this offer, Holder must counter execute this letter agreement and return the fully executed agreement to the Company at
e-mail: ________, attention: _______.

 

Please
do not hesitate to call me if you have any questions.

 

	 	Sincerely
    yours,
	 	 
	 	CANCER
    GENETICS, INC.
	 	 	 
	 	By:	 
	 	Name: 	John
    A. Roberts
	 	Title:	President

 

Accepted
and Agreed to:

 

Name
of Holder: ________________________________________________________

 

Signature
of Authorized Signatory of Holder: _________________________________

 

Name
of Authorized Signatory: _______________________________________________

 

Title
of Authorized Signatory: ________________________________________________

 

Exchange
Warrant Shares (May 2016 Purchase Agreement): _____________________

 

Exchange
Warrant Shares (September 2016 Purchase Agreement): _____________________

 

Exchange
Shares (0.2 of Exchange Warrant Shares): _____________________

 

DTC
Instructions:

 

    	4

    	 

    

 

Annex
A

 

Representations,
Warranties and Covenants of the Company. The Company hereby makes the following representations and warranties to the Holder:

 

(a)
Authorization; Enforcement. The Company has the requisite corporate power and authority to enter into and to consummate
the transactions contemplated by this letter agreement and otherwise to carry out its obligations hereunder. The execution and
delivery of this Agreement by the Company and the consummation by the Company of the transactions contemplated hereby have been
duly authorized by all necessary action on the part of the Company and no further action is required by the Company, its board
of directors or its stockholders in connection therewith. This letter agreement has been duly executed by the Company and, when
delivered in accordance with the terms hereof, will constitute the valid and binding obligation of the Company enforceable against
the Company in accordance with its terms, except (i) as limited by general equitable principles and applicable bankruptcy, insolvency,
reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights generally, (ii)
as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies and (iii)
insofar as indemnification and contribution provisions may be limited by applicable law.

 

(b)
No Conflicts. The execution, delivery and performance of this letter agreement by the Company and the consummation by the
Company of the transactions contemplated hereby do not and will not: (i) conflict with or violate any provision of the Company’s
certificate or articles of incorporation, bylaws or other organizational or charter documents; or (ii) conflict with, or constitute
a default (or an event that with notice or lapse of time or both would become a default) under, result in the creation of any
Lien upon any of the properties or assets of the Company in connection with, or give to others any rights of termination, amendment,
acceleration or cancellation (with or without notice, lapse of time or both) of, any material agreement, credit facility, debt
or other material instrument (evidencing Company debt or otherwise) or other material understanding to which such Company is a
party or by which any property or asset of the Company is bound or affected; or (iii) conflict with or result in a violation of
any law, rule, regulation, order, judgment, injunction, decree or other restriction of any court or governmental authority to
which the Company is subject (including federal and state securities laws and regulations), or by which any property or asset
of the Company is bound or affected.

 

(c)
Nasdaq Corporate Governance. The transactions contemplated under this letter agreement, comply with all rules of the Nasdaq
Stock Market.

 

(d)
Shell Company. The Company has never been an issuer subject to Rule 144(i) under the Securities Act.

 

    	5

    	 

    

 

Annex
B

 

Representations,
Warranties and Covenants of the Holder. The Holder hereby makes the following representations and warranties to the Company:

 

	 	(a)	Ownership;
    Authorization; Enforcement. The Holder is the record and beneficial owner of all the Exchange Warrants described on the
    signature page hereof, and has no interest in any other Exchange Warrants. The Holder has not transferred and will not transfer
    any of the Exchange Warrants to any third party, and no third party has any interest in the Exchange Warrants. The Holder
    has the requisite corporate power and authority to enter into and to consummate the transactions contemplated by this letter
    agreement and otherwise to carry out its obligations hereunder. The execution and delivery of this Agreement by the Holder
    and the consummation by the Holder of the transactions contemplated hereby have been duly authorized by all necessary action
    on the part of the Holder and no further action is required by the Holder, its board of directors or its stockholders in connection
    therewith. This letter agreement has been duly executed by the Holder and, when delivered in accordance with the terms hereof,
    will constitute the valid and binding obligation of the Holder enforceable against the Holder in accordance with its terms,
    except (i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and
    other laws of general application affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating
    to the availability of specific performance, injunctive relief or other equitable remedies and (iii) insofar as indemnification
    and contribution provisions may be limited by applicable law.
	 	 	 
	 	(b)	No
    Conflicts. The execution, delivery and performance of this letter agreement by the Holder and the consummation by the
    Holder of the transactions contemplated hereby do not and will not: (i) conflict with or violate any provision of the Holder’s
    certificate or articles of incorporation, bylaws or other organizational or charter documents; or (ii) conflict with, or constitute
    a default (or an event that with notice or lapse of time or both would become a default) under, result in the creation of
    any Lien upon any of the properties or assets of the Holder in connection with, or give to others any rights of termination,
    amendment, acceleration or cancellation (with or without notice, lapse of time or both) of, any material agreement, credit
    facility, debt or other material instrument (evidencing Holder debt or otherwise) or other material understanding to which
    such Holder is a party or by which any property or asset of the Holder is bound or affected; or (iii) conflict with or result
    in a violation of any law, rule, regulation, order, judgment, injunction, decree or other restriction of any court or governmental
    authority to which the Holder is subject (including federal and state securities laws and regulations), or by which any property
    or asset of the Holder is bound or affected.

 

    	6

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