Document:

Exhibit 10.2

 

EXCHANGE
AGREEMENT

 

THIS
EXCHANGE AGREEMENT (the “Agreement”) is dated as of January 31, 2015, by and between XRpro Sciences,
Inc., formerly known as Caldera Pharmaceuticals, Inc., a Delaware corporation, with headquarters located at One Kendall
Square, Cambridge, Massachusetts 02139 (the “Company”) and
_____________________________________________________________ with a residence located at
____________________________________________________________ (the “Securityholder”).

 

WHEREAS:

 

A. The Company is
currently offering for sale on a best efforts basis in a private placement of up to 1,265,000 Units (each Unit consisting of four
shares of the Company’s common stock, par value $.001 per share (the “Common Stock”) and a Warrant to
purchase common stock in the Company at $1.75 per share) at a price of $7.00 per Unit (the “Private Placement”)
and has agreed to issue until January 31, 2015, in addition to such 1,265,000 Units that will be offered in the Private Placement,
new warrants in exchange for certain existing warrants. In addition to the exchange described in Paragraph B below, the Company
has also offered to issue until January 31, 2015 (i) to the Series B Preferred shareholders in exchange for their Series B Preferred
shares together with all accrued and unpaid dividends thereon through the date of the exchange shares of Common Stock of the Company
(the number of shares of Common Stock to be issued is derived by dividing (x) the sum of the total cash paid by the Series B Preferred
holder to the Company for its initial investment in the Series B Units (comprised of Series B Preferred shares and a warrant)
plus the accrued and unpaid dividends on the Series B Preferred shares by (y) $1.75 and (ii) the Series B Preferred shareholders
that are warrant holders and the placement agent in its prior offering and its designees new warrants in exchange for their existing
warrants (other than the advisory warrants exercisable for $.01) with terms similar to those set forth in the existing warrant,
however the new warrant will provide for a reduction in exercise price, the elimination of the anti-dilution rights for new stock
issuances at per share prices lower than the exercise price, the addition of assignment rights for the warrant holders and the
addition of certain buy-in-rights for the warrants that previously did not have buy-in rights in the event of the Company’s
failure to timely deliver the shares of Common Stock underlying the warrant.

 

B.The Securityholder
owns a warrant exercisable for ________ shares of Common Stock of the Company (the “Existing Warrant”) that
was issued as part of the Company’s Bridge Financing in 2012 and desires to exchange the Existing Warrant for a warrant
in the form attached hereto as Exhibit A (the “New Warrant”) initially exercisable for ________
shares of Common Stock (the “Underlying Shares”), which warrant shall be substantially similar to the
Existing Warrant; however, the new warrant terms will provide for a reduction in exercise price to $2.10 per share, the elimination
of the anti-dilution rights for new stock issuances at per share prices lower than the exercise price, the addition of assignment
rights for the warrant holders and the addition of certain buy-in-rights for the warrants that previously did not have buy-in
rights in the event of our failure to timely deliver the shares of Common Stock underlying the warrant.

 

C.
The exchange of the Existing Warrant for the New Warrant (the “Exchange”) will be made in reliance upon
the exemption from registration provided by Section 3(a)(9) of the Securities Act of 1933, as amended (the “Securities
Act”).

 

    	 

    	 

    

 

NOW,
THEREFORE, in consideration of the foregoing premises and the mutual covenants hereinafter contained, the parties hereto agree
as follows:

 

1.EXCHANGE.

 

1.1
Exchange. Subject to the satisfaction or waiver of the conditions with respect to the Closing set forth in Sections
5 and 6 below, at the Closing the Securityholder and the Company shall, pursuant to Section 3(a)(9) of the Securities Act, exchange
the Existing Warrant for the New Warrant.

 

1.2
Closing. The closing of the exchange contemplated herein (the “Closing”) shall occur at the offices
of Gracin & Marlow, LLP. The date and time of the Closing shall be 10:00 a.m., New York time, on the first Business Day on
which the conditions to the Closing set forth in Sections 5 and 6 below are satisfied or waived (or such later date as is mutually
agreed to by the Company and the Securityholder) but in no event later than January 31, 2015.

 

1.3
Consideration. The New Warrant shall be issued in exchange for the Existing Warrant without the payment of any additional
consideration.

 

1.4
Delivery. In exchange for the Existing Warrant, within five business days of receipt by the Company from the Securityholder
(or its designee) of the Existing Warrant (or, in the event of the loss, theft or destruction of the Existing Warrant, an affidavit
with respect thereto in form reasonably acceptable to the Company),
which shall be delivered at the Closing, the Company shall deliver or cause to be delivered to the Securityholder the New Warrant
being issued in exchange for the Existing Warrant. As of the Closing Date, the Existing Warrant exchanged for the New Warrant
shall be null and void and any and all rights arising thereunder shall be extinguished, including all dividend rights. 

 

2.
COMPANY REPRESENTATIONS AND WARRANTIES.

 

The
Company represents and warrants to the Securityholder that:

 

2.1Reporting
Company Status. The Company is a corporation duly organized, validly existing and in good standing under the laws of
the State of Delaware, and has the requisite corporate power to own its properties and to carry on its business as now being conducted.
The Company is duly qualified as a foreign corporation to do business and is in good standing in each jurisdiction where the nature
of the business conducted or property owned by it makes such qualification necessary other than those jurisdictions in which the
failure to so qualify would not have a material and adverse effect on the business, operations, properties, prospects or condition
(financial or otherwise) of the Company. The Company has registered its Common Stock pursuant to Section 12 of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”).

 

2.2Authorized
Warrant. The Company has authorized the issuance of the New Warrant and reserved for issuance, free from preemptive
rights, shares of Common Stock equal to the number of shares for which the New Warrant is exercisable. The Underlying Shares have
been duly authorized and, when issued upon exercise of the New Warrant will be duly and validly issued, fully paid and non-assessable
and will not subject the holder thereof to personal liability by reason of being such holder.

 

2.3Exchange
Agreement. This Agreement and the transactions contemplated hereby have been duly and validly authorized by the Company,
this Agreement has been duly executed and delivered by the Company and this Agreement, when executed and delivered by the Company,
will be, a valid and binding agreement of the Company enforceable in accordance with its terms, subject as to enforceability to
general principles of equity and to bankruptcy, insolvency, moratorium, and other similar laws affecting the enforcement of creditors’
rights generally.

 

    	2

    	 

    

 

2.4Non-contravention.
The execution and delivery of this Agreement by the Company, the issuance of the New Warrant, and the consummation by the
Company of the other transactions contemplated by this Agreement do not and will not conflict with or result in a breach by the
Company of any of the terms or provisions of, or constitute a default under: (i) the certificate of incorporation or by-laws of
the Company; (ii) any indenture, mortgage, deed of trust, or other material agreement or instrument to which the Company is a
party or by which it or any of its properties or assets are bound; (iii) any existing applicable law, rule, or regulation or any
applicable decree, judgment; or (iv) any order of any court, United States federal or state regulatory body, administrative agency,
or other governmental body having jurisdiction over the Company or any of its properties or assets, except such conflict, breach
or default which would not have a material adverse effect on the transactions contemplated herein. The Company is not in material
violation of any  laws, governmental orders, rules, regulations or ordinances to which its property, real, personal, mixed,
tangible or intangible, or its businesses related to such properties, are subject.

 

2.5Approvals.
No authorization, approval or consent of any court, governmental body, regulatory agency, self-regulatory organization, or
stock exchange or market is required to be obtained by the Company for the issuance and exchange of the New Warrant to the Securityholder
as contemplated by this Agreement, except such authorizations, approvals and consents that have been obtained.

 

2.6SEC
Documents, Financial Statements. The Company has filed on a timely basis all reports, schedules, forms, statements
and other documents required to be filed by it with the Securities and Exchange Commission (“SEC”) pursuant to the
reporting requirements of the Exchange Act, including material filed pursuant to Section 13(a) or 15(d) (the “SEC Documents”).
As of their respective dates, the SEC Documents complied in all material respects with the requirements of the Securities Act
or the Exchange Act as the case may be and the rules and regulations of the SEC promulgated thereunder and other federal, state
and local laws, rules and regulations applicable to such SEC Documents, and none of the SEC Documents contained any untrue statement
of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements
therein, in light of the circumstances under which they were made, not misleading. The financial statements of the Company included
in the SEC Documents comply as to form in all material respects with applicable accounting requirements and the published rules
and regulations of the SEC or other applicable rules and regulations with respect thereto. Such financial statements have been
prepared in accordance with generally accepted accounting principles applied on a consistent basis during the periods involved
(except (i) as may be otherwise indicated in such financial statements or the notes thereto or (ii) in the case of unaudited interim
statements, to the extent they may not include footnotes or may be condensed or summary statements) and fairly present in all
material respects the financial position of the Company as of the dates thereof and the results of operations and cash flows for
the periods then ended (subject, in the case of unaudited statements, to normal year-end audit adjustments).

 

3.
SECURITYHOLDER REPRESENTATIONS AND WARRANTIES.

 

As
a material inducement to the Company to enter into this Agreement and consummate the Exchange, the Securityholder represents,
warrants and covenants with and to the Company as follows:

 

3.1Authorization
and Binding Obligation. The Securityholder has the requisite legal capacity, power and authority to enter into, and perform
under, this Agreement and to acquire the New Warrant being issued to such Securityholder hereunder and thereunder. The execution,
delivery and performance of this Agreement by such Securityholder and the consummation by such Securityholder of the transactions
contemplated hereby and thereby have been duly authorized by all requisite corporate, partnership or similar action on the part
of such Securityholder and no further consent or authorization is required. This Agreement has been duly authorized, executed
and delivered. This Agreement constitutes the legal, valid and binding obligations of the Securityholder, enforceable against
the Securityholder in accordance with their respective terms, except as such enforceability may be limited by general principles
of equity or applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting
generally, the enforcement of applicable creditors' rights and remedies and except as rights to indemnification and to contribution
may be limited by federal or state securities laws.

 

    	3

    	 

    

 

3.2
Beneficial Owner. With respect to the Existing Warrant: (i) the Securityholder owns, good and marketable title to the
Existing Warrant, free and clear of any liens or encumbrances and the Existing Warrant has not been pledged to any third party;
(ii) the Existing Warrant is not subject to any transfer restriction, other than the restriction that they have not been registered
under the Securities Act or applicable state securities laws and, therefore, cannot be resold unless registered under the Securities
Act or applicable state securities laws or in a transaction exempt from or not subject to the registration requirements of the
Securities Act or applicable state securities laws; (iii) the Securityholder has not entered into any agreement or understanding
with any person or entity to dispose of the Existing Warrant; and (iv) at the Closing, the Securityholder will convey to the Company
good and marketable title to the Existing Warrant, free and clear of any security interests, liens, adverse claims, encumbrances,
taxes or encumbrances.

 

3.3Liens.
There are no outstanding liens, claims, offset rights, or other encumbrances relating to the Existing Warrant. To the knowledge
of the Securityholder, the exchange by the Securityholder and the consummation of the transactions herein, does not by itself
or with the passage of time violate or infringe upon the rights of any third parties or result or could reasonably result in any
claims against the Securityholder or the Company.

 

3.4Sale
or Transfer. The Securityholder has not sold, assigned, conveyed, transferred, mortgaged, hypothecated, pledged or encumbered
or otherwise permitted any lien to be incurred with respect to the Existing Warrant.

 

3.5Proceedings.
No proceedings relating to the Existing Warrant are pending or, to the knowledge of the Securityholder, threatened before any
court, arbitrator or administrative or governmental body that would adversely affect the Securityholder’s right and ability
to surrender and exchange the Existing Warrant.

 

3.6Conveyance.
The Securityholder has full legal and equitable title to the Existing Warrant , free and clear of all liens, pledges or encumbrances
of any kind, nature or description, with full and unrestricted legal power, authority and right to enter into this Agreement and
to transfer and deliver such Existing Warrant to the Company pursuant hereto, and upon delivery of the Existing Warrant to the
Company, the Company will be the owner of each of the Existing Warrant, free and clear of all liens, claims, pledges or encumbrances
of any kind, nature or description.

 

3.7Action.
The Securityholder has taken no action that would impair its ability to transfer the Existing Warrant.

 

3.8Interest.
No person other than the Securityholder has any right or interest in the Existing Warrant.

 

    	4

    	 

    

 

3.9Tax
Consequences. The Securityholder acknowledges that the exchange of the Existing Warrant may involve tax consequences to the
Securityholder and that this Agreement does not contain tax advice. The Securityholder acknowledges that it has not relied and
will not rely upon the Company with respect to any tax consequences related to the exchange of the Existing Warrant. The Securityholder
assumes full responsibility for all such consequences and for the preparation and filing of any tax returns and elections which
may or must be filed in connection with the Existing Warrant.

 

3.10
Reliance on Exemptions. The Securityholder understands that the New Warrant being issued in the exchange is being issued
in reliance on specific exemptions from the registration requirements of United States federal and state securities laws provided
by Section 3(a)(9) and that the Company is relying in part upon the truth and accuracy of, and the Securityholder’s compliance
with, the representations, warranties, agreements, acknowledgments and understandings of the Securityholder set forth herein in
order to determine the availability of such exemptions and the eligibility of the Securityholder to acquire the New Warrant.

 

3.11
No Governmental Review. The Securityholder understands that no United States federal or state agency or any other government
or governmental agency has passed on or made any recommendation or endorsement of the New Warrant or the fairness or suitability
of the exchange with the New Warrant nor have such authorities passed upon or endorsed the merits of the exchange of the New Warrant.

 

3.12
No Conflicts. The execution, delivery and performance by the Securityholder of this Agreement and the consummation
by the Securityholder of the transactions contemplated hereby will not (i) conflict with, or constitute a default (or an event
which with notice or lapse of time or both would become a default) under, or give to others any rights of termination, amendment,
acceleration or cancellation of, any agreement, indenture or instrument to which the Securityholder is a party or (ii) result
in a violation of any law, rule, regulation, order, judgment or decree (including federal and state securities laws) applicable
to the Securityholder, except in the case of clause (i) or (ii) above, for such conflicts, defaults, rights or violations which
would not, individually or in the aggregate, reasonably be expected to have a material adverse effect on the ability of the Securityholder
to perform its obligations hereunder.

 

3.13
No Public Sale or Distribution. The Securityholder: (i) is acquiring the New Warrant and (ii) upon exercise
of the New Warrant will acquire the Underlying Shares, in each case, for its own account and not with a view towards, or for
resale in connection with, the public sale or distribution thereof in violation of applicable securities laws, except
pursuant to sales registered or exempted under the Securities Act. The Securityholder does not presently have any agreement
or understanding, directly or indirectly, with any person to distribute any of the New Warrant or the Underlying Shares, for
its own account and  with a view towards, or for resale in connection with, the public sale of securities in violation of
applicable securities laws.

 

3.14Information.
The Securityholder and its advisors, if any, have been furnished with all materials relating to the business, finances and operations
of the Company and materials relating to the offer and sale of the New Warrant which have been requested by the Securityholder.
The Securityholder and its advisors, if any, have been afforded the opportunity to ask questions of the Company. The Securityholder
understands that its exchange of the New Warrant and Existing Warrant involves a high degree of risk. The Securityholder has sought
such accounting, legal and tax advice as it has considered necessary to make an informed decision with respect to its acquisition
of the New Warrant. Without limiting the generality of the foregoing, the Securityholder has also had the opportunity to obtain
and to review: (i) the Company’s Private Placement Memorandum dated as of December 4, 2014, as amended by Supplement No.
1 with respect to the offering of up to $8,855,000 Units, each Unit comprised of four shares of Common Stock and a warrant exercisable
for one share of common stock at an exercise price of $1.75, (ii) the Company’s Quarterly Reports on Form 10-Q for the quarters
ended March 31, 2014, June 30, 2014 and September 30, 2014, and (iii) the Company’s Annual Report on Form 10-K for the year
ended December 31, 2013.

 

    	5

    	 

    

 

3.15
Transfer or Resale. The Securityholder understands that: (i) neither the New Warrant nor the Underlying Shares has
been and is being registered under the Securities Act or any state securities laws, and may not be offered for sale, sold, assigned
or transferred unless (A) subsequently registered thereunder; (B) the Securityholder shall have delivered to the Company (if requested
by the Company) an opinion of counsel to the Securityholder, in a form reasonably acceptable to the Company, to the effect that
the New Warrant or the Underlying Shares, as the case may be, to be sold, assigned or transferred may be sold, assigned or transferred
pursuant to an exemption from such registration; or (C) the Securityholder provides the Company with reasonable assurance that
the New Warrant or the Underlying Shares can be sold, assigned or transferred pursuant to Rule 144 or Rule 144A promulgated under
the Securities Act (or a successor rule thereto) (collectively, “Rule 144”) and (ii) any sale of the New Warrant
or  Underlying Shares made in reliance on Rule 144 may be made only in accordance with the terms of Rule 144.

 

4.
COVENANTS.

 

4.1
Reasonable Best Efforts. The Company shall use its reasonable best efforts to timely satisfy each of the conditions
to be satisfied by it as provided in Section 6 of this Agreement. The Securityholder shall use its reasonable best efforts to
timely satisfy each of the conditions to be satisfied by it as provided in Section 5 of this Agreement.

 

4.2
Reservation of Shares. The Company shall take all action necessary to at all times have authorized, and reserved for
the purpose of issuance, no less than the maximum number of Underlying Shares.

 

5.
CONDITIONS TO COMPANY’S OBLIGATIONS HEREUNDER.

 

The
obligations of the Company to the Securityholder hereunder are subject to the satisfaction of each of the following conditions
(except to the extent such condition is expressly conditional to a specific closing, in which case such condition shall only apply
to such specific closing), provided that these conditions are for the Company’s sole benefit and may be waived by the Company
at any time in its sole discretion by providing the Securityholder with prior written notice thereof:

 

5.1 The Securityholder
shall have duly executed this Agreement and delivered the same to the Company and shall have delivered the certificates evidencing
the Existing Warrant (or, in the event of the loss, theft or destruction of the Existing Warrant, an affidavit with respect thereto
in form reasonably acceptable to the Company).

 

5.2
The representations and warranties of the Securityholder shall be true and correct in all material respects as of the date
when made and as of the Closing Date as though made at that time (except for representations and warranties that speak as of a
specific date which shall be true and correct as of such specified date), and the Securityholder shall have performed, satisfied
and complied in all material respects with the covenants, agreements and conditions required by this Agreement to be performed,
satisfied or complied with by the Securityholder at or prior to the Closing Date.

 

5.3No
statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or endorsed
by any court or governmental authority of competent jurisdiction that prohibits the consummation of any of the transactions contemplated
by this Agreement.

 

5.4The
Private Placement shall have been consummated.

 

    	6

    	 

    

 

6.
CONDITIONS TO THE SECURITYHOLDER’S OBLIGATIONS HEREUNDER.

 

The
obligations of the Securityholder hereunder are subject to the satisfaction of each of the following conditions (except to the
extent such condition is expressly conditional to a specific closing, in which case such condition shall only apply to such specific
closing), provided that these conditions are for the Securityholder’s sole benefit and may be waived by the Securityholder
at any time in its sole discretion by providing the Company with prior written notice thereof:

 

6.1The
Company shall have duly executed and delivered this Agreement to the Securityholder.

 

6.2Each
and every representation and warranty of the Company shall be true and correct in all material respects as of the date when made
and as of the Closing Date as though originally made at that time (except for representations and warranties that speak as of
a specific date, which shall be true and correct as of such date) and the Company shall have performed, satisfied and complied
in all material respects with the covenants, agreements and conditions required to be performed, satisfied or complied with by
the Company at or prior to the Closing Date.

 

6.3
The Company shall have obtained all governmental, regulatory or third party consents and approvals, if any, necessary for
the transactions contemplated by this Agreement.

 

6.4
No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated
or endorsed by any court or governmental authority of competent jurisdiction that prohibits the consummation of any of the transactions
contemplated by this Agreement.

 

6.5The
Private Placement Closing Date shall have occurred.

 

7. MISCELLANEOUS.

 

7.1
Legends. The Securityholder acknowledges that the certificate(s) representing the New Warrant and Underlying Shares
shall each conspicuously set forth on the face or back thereof a legend in substantially the following form:

 

“THESE
SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR THE RULES AND REGULATIONS
PROMULGATED THEREUNDER, OR UNDER THE SECURITIES LAWS, RULES OR REGULATIONS OF ANY STATE; AND MAY NOT BE PLEDGED, HYPOTHECATED,
SOLD OR TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE ACT AND THE APPLICABLE
STATE SECURITIES LAWS, RULES OR REGULATIONS OR AN EXEMPTION THEREFROM DEEMED ACCEPTABLE BY COUNSEL TO THE COMPANY.”

 

7.2
Governing Law; Jurisdiction; Jury Trial. All questions concerning the construction, validity, enforcement and interpretation
of this Agreement shall be governed by the internal laws of the State of New York, without giving effect to any choice of law
or conflict of law provision or rule (whether of the State of New York or any other jurisdictions) that would cause the application
of the laws of any jurisdictions other than the State of New York.

 

    	7

    	 

    

 

7.3Arbitration.
Both parties shall resolve all disputes, controversies and differences which may arise between the parties, out of or in relation
to or in connection with this Agreement, after discussion in good faith attempting to reach an amicable solution. Provided that
such disputes, controversies and differences remain unsettled after discussion between the parties, both parties agree that those
unsettled matter(s) shall be finally settled by arbitration in New York, New York in accordance with the latest Rules of the American
Arbitration Association. Such arbitration shall be conducted by three arbitrators appointed as follows: each party will appoint
one arbitrator and the appointed arbitrators shall appoint a third arbitrator. If within 30 days after confirmation of the last
appointed arbitrator, such arbitrators have failed to agree upon a chairman, then the chairman will be appointed by the American
Arbitration Association. The decision of the tribunal shall be final and may not be appealed. The arbitral tribunal may, in its
discretion award fees and costs as part of its award. Judgment on the arbitral award may be entered by any court of competent
jurisdiction, including any court that has jurisdiction over either party or any of their assets. At the request of any party,
the arbitration proceeding shall be conducted in the utmost secrecy subject to a requirement of law to disclose. In such case,
all documents, testimony and records shall be received, heard and maintained by the arbitrators in secrecy, available for inspection
only by any party and by their attorneys and experts who shall agree, in advance and in writing, to receive all such information
in secrecy.

 

7.4
Counterparts. This Agreement may be executed simultaneously in two or more counterparts, any one of which need not
contain the signatures of more than one party, but all such counterparts taken together will constitute one and the same Agreement.
This Agreement, to the extent delivered by means of a facsimile machine or electronic mail (any such delivery, an “Electronic
Delivery”), shall be treated in all manner and respects as an original agreement or instrument and shall be considered
to have the same binding legal effect as if it were the original signed version thereof delivered in person. At the request of
any party hereto, each other party hereto shall re-execute original forms hereof and deliver them in person to all other parties.
No party hereto shall raise the use of Electronic Delivery to deliver a signature or the fact that any signature or agreement
or instrument was transmitted or communicated through the use of Electronic Delivery as a defense to the formation of a contract,
and each such party forever waives any such defense, except to the extent such defense related to lack of authenticity.

 

7.5
Headings. The headings of this Agreement are for convenience of reference and shall not form part of, or affect the
interpretation of, this Agreement.

 

7.6Severability.
If any provision of this Agreement is prohibited by law or otherwise determined to be invalid or unenforceable by a court of competent
jurisdiction, the provision that would otherwise be prohibited, invalid or unenforceable shall be deemed amended to apply to the
broadest extent that it would be valid and enforceable, and the invalidity or unenforceability of such provision shall not affect
the validity of the remaining provisions of this Agreement so long as this Agreement as so modified continues to express, without
material change, the original intentions of the parties as to the subject matter hereof and the prohibited nature, invalidity
or unenforceability of the provision(s) in question does not substantially impair the respective expectations or reciprocal obligations
of the parties or the practical realization of the benefits that would otherwise be conferred upon the parties. The parties will
endeavor in good faith negotiations to replace the prohibited, invalid or unenforceable provision(s) with a valid provision(s),
the effect of which comes as close as possible to that of the prohibited, invalid or unenforceable provision(s).

 

    	8

    	 

    

 

7.7
Entire Agreement; Amendments. This Agreement supersedes all other prior oral or written agreements between the Securityholder,
the Company, their affiliates and persons acting on their behalf with respect to the matters discussed herein, and this Agreement,
contains the entire understanding of the parties with respect to the matters covered herein and, except as specifically set forth
herein, neither the Company nor the Securityholder makes any representation, warranty, covenant or undertaking with respect to
such matters. No provision of this Agreement may be amended other than by an instrument in writing signed by the Company and the
Securityholder, and any amendment to this Agreement made in conformity with the provisions of this Section shall be binding upon
the Securityholder. No provision hereof may be waived other than by an instrument in writing signed by the party against whom
enforcement is sought.

 

7.8Notices.
Any notices, consents, waivers or other communications required or permitted to be given under the terms of this Agreement must
be in writing and will be deemed to have been delivered: (i) upon receipt, when delivered personally; (ii) upon receipt, when
sent by facsimile (provided confirmation of transmission is mechanically or electronically generated and kept on file by the sending
party); or (iii) one business day after deposit with an overnight courier service, in each case properly addressed to the party
to receive the same. The addresses and facsimile numbers for such communications shall be:

 

If to the
Company:

 

XRpro Sciences,
Inc.

One Kendall
Square

Cambridge,
Massachusetts 02139

Facsimile:
(302) 347 1326

Attention:
Mark Korb

 

with a copy
(for informational purposes only) to:

 

Gracin &
Marlow, LLP

The Chrysler
Building

405 Lexington
Avenue, 26th Floor

New York,
New York 10174

Telephone:
(212) 907-6457

Facsimile:
(212) 208-4657

Attention:
Leslie Marlow, Esq.

 

If to the
Securityholder:

 

 

 

with a copy
(for informational purposes only) to:

 

 

 

to
its address and facsimile number set forth above, or to such other address and/or facsimile number and/or to the attention of
such other person as the recipient party has specified by written notice given to each other party five days prior to the effectiveness
of such change. Written confirmation of receipt (A) given by the recipient of such notice, consent, waiver or other communication;
(B) mechanically or electronically generated by the sender's facsimile machine containing the time, date, recipient facsimile
number and an image of the first page of such transmission; or (C) provided by an overnight courier service shall be rebuttable
evidence of personal service, receipt by facsimile or receipt from an overnight courier service in accordance with clause (i),
(ii) or (iii) above, respectively.

 

    	9

    	 

    

 

7.9
Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their respective
successors and assigns, including any purchasers of the Series B Preferred. The Company shall not assign this Agreement or any
rights or obligations hereunder without the prior written consent of the Securityholder. The Securityholder may assign some or
all of its rights hereunder without the consent of the Company.

 

7.10Construction.
The language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent, and
no rules of strict construction will be applied against any party. No specific representation or warranty shall limit the generality
or applicability of a more general representation or warranty.

 

    	10

    	 

    

 

IN
WITNESS WHEREOF, the Securityholder and the Company have caused their respective signature pages to this Agreement to be duly
executed as of the date first written above.

 

	 	COMPANY:
	 	 
	 	XRPRO SCIENCES, INC. 
	 	 	 
	 	By:	 
	 	Name: 	Richard Cunningham
	 	Title:	President and Chief Executive Officer

 

	 	SECURITYHOLDER:
	 	 
	 	 
	 	Print Name
	 	 
	 	 
	 	Signature
	 	 
	 	 
	 	Name and Title of Signer
	 	 
	 	 
	 	Name (if Joint)
	 	 
	 	 
	 	Signature (if Joint)Exhibit 10.3

 

EXCHANGE
AGREEMENT

 

THIS EXCHANGE AGREEMENT
(the “Agreement”) is dated as of January 31, 2015, by and between XRpro Sciences, Inc., formerly known
as Caldera Pharmaceuticals, Inc., a Delaware corporation, with headquarters located at One Kendall Square, Boston, Massachusetts
02139 (the “Company”) and _____________________________________________________________ with a residence located
at ____________________________________________________________ (the “Securityholder”).

 

WHEREAS:

 

A. The Company is
currently offering for sale on a best efforts basis in a private placement of up to 1,265,000 Units (each Unit consisting of four
shares of the Company’s common stock, par value $.001 per share (the “Common Stock”) and a Warrant to purchase
common stock in the Company at $1.75 per share) at a price of $7.00 per Unit (the “Private Placement”) and
has agreed to issue until January 31, 2015, in addition to such 1,265,000 Units that will be offered in the Private Placement,
shares of Common Stock to certain current Securityholders of the Company in exchange for the securities of the Company currently
held by or owed as dividends to such Securityholders and a new warrant in exchange for certain existing warrants. In addition
the Company is also offering to exchange until January 31, 2015 the warrants issued to certain bridge note holders and certain
of the warrants issued to the placement agent in its prior offering and its designees (other than the advisory warrants exercisable
for $.01) for new warrants with terms substantially similar to their existing warrants; however, the new warrant terms will provide
for a reduction in exercise price, the elimination of the anti-dilution rights for new stock issuances at per share prices lower
than the exercise price, the addition of assignment rights for the warrant holders and the addition of certain buy-in–rights
for the warrants that previously did not have buy-in rights in the event of the Company’s failure to timely deliver the
shares of Common Stock underlying the warrant.

 

B.The Securityholder
owns ________ shares of Series B Preferred Stock of the Company (the “Series B Preferred”) and desires to exchange
all of the shares of Series B Preferred owned by the Securityholder together with all accrued and unpaid dividends thereon through
the exchange date for _________ shares of Common Stock of the Company (which number is derived by dividing (x) the sum of the
total cash paid by the Securityholder to the Company for the Securityholder’s initial investment in the Series B Units (comprised
of the Series B Preferred and a Warrant) plus the accrued and unpaid dividends on the Series B Preferred (the “Series
B Units”) by (y) $1.75;

 

C. The
Securityholder also owns a warrant exercisable for ________ shares of Common Stock of the Company (the “Existing Warrant”)
that was issued as part of the Series B Units and desires to exchange the Existing Warrant for a warrant in the form attached
hereto as Exhibit A (the “New Warrant”) initially exercisable for ________
shares of Common Stock (the “Underlying Shares”), which warrant shall substantially similar to the Existing
Warrant; however the exercise price shall be reduced to $1.75 per share, and the price protection anti-dilution shall be eliminated,
the addition of assignment rights for the Securityholder, the addition of certain buy-in–rights for the New Warrant that
previously did not have buy-in rights in the event of the Company’s failure to timely deliver the shares of Common Stock
underlying the New Warrant;

 

D. The exchange of
the Series B Preferred together with the accrued and unpaid dividends thereon for the Common Stock and the exchange of the Existing
Warrant for the New Warrant (the “Exchange”) will be made in reliance upon the exemption from registration provided
by Section 3(a)(9) of the Securities Act of 1933, as amended (the “Securities Act”).

 

    	 

    	 

    

 

NOW,
THEREFORE, in consideration of the foregoing premises and the mutual covenants hereinafter contained, the parties hereto agree
as follows:

 

1.EXCHANGE.

 

1.1 Exchange.
Subject to the satisfaction or waiver of the conditions with respect to the Closing set forth in Sections 5 and 6 below, at the
Closing the Securityholder and the Company shall, pursuant to Section 3(a)(9) of the Securities Act, exchange the: (a) _____ shares
of Series B Preferred for _____ shares of Common Stock (which number of shares of Series B Preferred is derived by dividing (x)
the sum of the total cash paid by the Securityholder to the Company for the Securityholder’s initial investment in the Series
B Units plus the accrued and unpaid dividends on the Series B Preferred by (y) $1.75; and (b) the Existing Warrant for the New
Warrant.

 

1.2
Closing. The closing of the exchange contemplated herein (the “Closing”) shall occur at the offices
of Gracin & Marlow, LLP. The date and time of the Closing shall be 10:00 a.m., New York time, on the first Business Day on
which the conditions to the Closing set forth in Sections 5 and 6 below are satisfied or waived (or such later date as is mutually
agreed to by the Company and the Securityholder) but in no event later than January 31, 2015.

 

1.3 Consideration.
The Common Stock shall be issued to the Securityholder in exchange for the Series B Preferred without the payment of any additional
consideration and the New Warrant shall be issued in exchange for the Existing Warrant without the payment of any additional consideration.

 

1.4 Delivery.
In exchange for the shares of Series B Preferred and the Existing Warrant, within five business days of receipt by the Company
from the Securityholder (or its designee) of the certificates evidencing the shares of Series B Preferred and the Existing Warrant
(or, in the event of loss, theft or destruction of the Existing Warrant or Series B Preferred stock certificate, an affidavit
with respect thereto in the form reasonably acceptable to the Company), which shall be delivered at the Closing, the Company shall
deliver or cause to be delivered to the Securityholder the shares of Common Stock issued in exchange for shares of Series B Preferred
as well as the New Warrant being issued in exchange for the Existing Warrant. As of the Closing Date, the shares of Series B Preferred
exchanged for Common Stock and the Existing Warrant exchanged for the New Warrant shall be null and void and any and all rights
arising thereunder shall be extinguished, including all dividend rights.

 

2.
COMPANY REPRESENTATIONS AND WARRANTIES.

 

The
Company represents and warrants to the Securityholder that:

 

2.1Reporting
Company Status. The Company is a corporation duly organized, validly existing and in good standing under the laws of
the State of Delaware, and has the requisite corporate power to own its properties and to carry on its business as now being conducted.
The Company is duly qualified as a foreign corporation to do business and is in good standing in each jurisdiction where the nature
of the business conducted or property owned by it makes such qualification necessary other than those jurisdictions in which the
failure to so qualify would not have a material and adverse effect on the business, operations, properties, prospects or condition
(financial or otherwise) of the Company. The Company has registered its Common Stock pursuant to Section 12 of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”).

 

2.2Authorized
Shares and Warrants. The Company has authorized the issuance of the shares of Common Stock and, when issued the Common
Stock will be duly and validly issued, fully paid and non-assessable and will not subject the holder thereof to personal liability
by reason of being such holder. The Company has authorized the issuance of the New Warrants and reserved for issuance, free from
preemptive rights, shares of Common Stock equal to the number of shares into which the New Warrants are exercisable. The Underlying
Shares have been duly authorized and, when issued upon exercise of the New Warrants will be duly and validly issued, fully paid
and non-assessable and will not subject the holder thereof to personal liability by reason of being such holder. 

 

2.3Exchange
Agreement. This Agreement and the transactions contemplated hereby have been duly and validly authorized by the Company,
this Agreement has been duly executed and delivered by the Company and this Agreement, when executed and delivered by the Company,
will be, a valid and binding agreement of the Company enforceable in accordance with its terms, subject as to enforceability to
general principles of equity and to bankruptcy, insolvency, moratorium, and other similar laws affecting the enforcement of creditors’
rights generally.

 

    	2

    	 

    

 

2.4Non-contravention.
The execution and delivery of this Agreement by the Company, the issuance of the Common Stock and the New Warrant, and the
consummation by the Company of the other transactions contemplated by this Agreement do not and will not conflict with or result
in a breach by the Company of any of the terms or provisions of, or constitute a default under: (i) the certificate of incorporation
or by-laws of the Company; (ii) any indenture, mortgage, deed of trust, or other material agreement or instrument to which the
Company is a party or by which it or any of its properties or assets are bound; (iii) any existing applicable law, rule, or regulation
or any applicable decree, judgment; or (iv)any order of any court, United States federal or state regulatory body, administrative
agency, or other governmental body having jurisdiction over the Company or any of its properties or assets, except such conflict,
breach or default which would not have a material adverse effect on the transactions contemplated herein. The Company is not in
violation of any material laws, governmental orders, rules, regulations or ordinances to which its property, real, personal, mixed,
tangible or intangible, or its businesses related to such properties, are subject.

 

2.5Approvals.
No authorization, approval or consent of any court, governmental body, regulatory agency, self-regulatory organization, or
stock exchange or market is required to be obtained by the Company for the issuance and exchange of the Common Stock and the New
Warrant to the Securityholder as contemplated by this Agreement, except such authorizations, approvals and consents that have
been obtained.

 

2.6SEC
Documents, Financial Statements. The Company has filed on a timely basis all reports, schedules, forms, statements
and other documents required to be filed by it with the Securities and Exchange Commission (“SEC”) pursuant to the
reporting requirements of the Exchange Act, including material filed pursuant to Section 13(a) or 15(d) (the “SEC Documents”).
As of their respective dates, the SEC Documents complied in all material respects with the requirements of the Securities Act
or the Exchange Act as the case may be and the rules and regulations of the SEC promulgated thereunder and other federal, state
and local laws, rules and regulations applicable to such SEC Documents, and none of the SEC Documents contained any untrue statement
of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements
therein, in light of the circumstances under which they were made, not misleading. The financial statements of the Company included
in the SEC Documents comply as to form in all material respects with applicable accounting requirements and the published rules
and regulations of the SEC or other applicable rules and regulations with respect thereto. Such financial statements have been
prepared in accordance with generally accepted accounting principles applied on a consistent basis during the periods involved
(except (i) as may be otherwise indicated in such financial statements or the notes thereto or (ii) in the case of unaudited interim
statements, to the extent they may not include footnotes or may be condensed or summary statements) and fairly present in all
material respects the financial position of the Company as of the dates thereof and the results of operations and cash flows for
the periods then ended (subject, in the case of unaudited statements, to normal year-end audit adjustments).

 

3.
SECURITYHOLDER REPRESENTATIONS AND WARRANTIES.

 

As
a material inducement to the Company to enter into this Agreement and consummate the Exchange, the Securityholder represents,
warrants and covenants with and to the Company as follows:

 

3.1Authorization
and Binding Obligation. The Securityholder has the requisite legal capacity, power and authority to enter into, and perform
under, this Agreement and to acquire the Common Stock and New Warrant being issued to such Securityholder hereunder. The execution,
delivery and performance of this Agreement by such Securityholder and the consummation by such Securityholder of the transactions
contemplated hereby and thereby have been duly authorized by all requisite corporate, partnership or similar action on the part
of such Securityholder and no further consent or authorization is required. This Agreement has been duly authorized, executed
and delivered. This Agreement constitutes the legal, valid and binding obligations of the Securityholder, enforceable against
the Securityholder in accordance with their respective terms, except as such enforceability may be limited by general principles
of equity or applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting
generally, the enforcement of applicable creditors' rights and remedies and except as rights to indemnification and to contribution
may be limited by federal or state securities laws.

 

    	3

    	 

    

 

3.2 Beneficial Owner.
With respect to the Series B Preferred and the Existing Warrant: (i) the Securityholder owns, good and marketable title to the
Series B Preferred and the right to receive dividends thereon and owns the Existing Warrant, free and clear of any liens or encumbrances
and neither Series B Preferred nor the Existing Warrant has been pledged to any third party; (ii) neither the shares of Series
B Preferred held by the Securityholder and the right to receive dividends thereon nor the Existing Warrant is subject to any transfer
restriction, other than the restriction that they have not been registered under the Securities Act or applicable state securities
laws and, therefore, cannot be resold unless registered under the Securities Act or applicable state securities laws or in a transaction
exempt from or not subject to the registration requirements of the Securities Act or applicable state securities laws; (iii) the
Securityholder has not entered into any agreement or understanding with any person or entity to dispose of any of the shares of
Series B Preferred or the dividends to be issued with respect to the Series B Preferred or the Existing Warrant; and (iv) at the
Closing, the Securityholder will convey to the Company good and marketable title to the Series B Preferred and the Common Stock
dividends thereon and the Existing Warrant, free and clear of any security interests, liens, adverse claims, encumbrances, taxes
or encumbrances.

 

3.3Liens. There
are no outstanding liens, claims, offset rights, or other encumbrances relating to the Series B Preferred or the Existing Warrant.
To the knowledge of the Securityholder, the exchange by the Securityholder and the consummation of the transactions herein, does
not by itself or with the passage of time violate or infringe upon the rights of any third parties or result or could reasonably
result in any claims against the Securityholder or the Company.

 

3.4Sale or Transfer.
The Securityholder has not sold, assigned, conveyed, transferred, mortgaged, hypothecated, pledged or encumbered or otherwise
permitted any lien to be incurred with respect to the Series B Preferred or the Existing Warrant.

 

3.5Proceedings.
No proceedings relating to the Series B Preferred or Existing Warrant are pending or, to the knowledge of the Securityholder,
threatened before any court, arbitrator or administrative or governmental body that would adversely affect the Securityholder’s
right and ability to surrender and exchange the Series B Preferred and Existing Warrant.

 

3.6Conveyance.
The Securityholder has full legal and equitable title to the Series B Preferred and Existing Warrant, free and clear of all liens,
pledges or encumbrances of any kind, nature or description, with full and unrestricted legal power, authority and right to enter
into this Agreement and to transfer and deliver such Series B Preferred and Existing Warrant to the Company pursuant hereto, and
upon delivery of the Series B Preferred and Existing Warrant to the Company, the Company will be the owner of each of the Series
B Preferred and Existing Warrant, free and clear of all liens, claims, pledges or encumbrances of any kind, nature or description.

 

3.7Action. The
Securityholder has taken no action that would impair its ability to transfer the Series B Preferred or the Existing Warrant.

 

3.8Interest.
No person other than the Securityholder has any right or interest in the Series B Preferred or the dividends accrued to the date
of closing or the Existing Warrant.

 

    	4

    	 

    

 

3.9Tax Consequences.
The Securityholder acknowledges that the exchange of the Series B Preferred and Existing Warrant may involve tax consequences
to the Securityholder and that this Agreement does not contain tax advice. The Securityholder acknowledges that it has not relied
and will not rely upon the Company with respect to any tax consequences related to the exchange of the Series B Preferred or the
Existing Warrant. The Securityholder assumes full responsibility for all such consequences and for the preparation and filing
of any tax returns and elections which may or must be filed in connection with the Series B Preferred or the Existing Warrant.

 

3.10 Reliance on
Exemptions. The Securityholder understands that the shares of Common Stock and New Warrant being issued in the exchange are
being issued in reliance on specific exemptions from the registration requirements of United States federal and state securities
laws provided by Section 3(a)(9) and that the Company is relying in part upon the truth and accuracy of, and the Securityholder’s
compliance with, the representations, warranties, agreements, acknowledgments and understandings of the Securityholder set forth
herein in order to determine the availability of such exemptions and the eligibility of the Securityholder to acquire the Common
Stock and the New Warrant.

 

3.11 No Governmental
Review. The Securityholder understands that no United States federal or state agency or any other government or governmental
agency has passed on or made any recommendation or endorsement of the Common Stock or the New Warrant or the fairness or suitability
of the exchange with the Common Stock or the New Warrant nor have such authorities passed upon or endorsed the merits of the exchange
of the Common Stock or the New Warrant.

 

3.12
No Conflicts. The execution, delivery and performance by the Securityholder of this Agreement and the consummation
by the Securityholder of the transactions contemplated hereby will not (i) conflict with, or constitute a default (or an event
which with notice or lapse of time or both would become a default) under, or give to others any rights of termination, amendment,
acceleration or cancellation of, any agreement, indenture or instrument to which the Securityholder is a party or (ii) result
in a violation of any law, rule, regulation, order, judgment or decree (including federal and state securities laws) applicable
to the Securityholder, except in the case of clause (i) or (ii) above, for such conflicts, defaults, rights or violations which
would not, individually or in the aggregate, reasonably be expected to have a material adverse effect on the ability of the Securityholder
to perform its obligations hereunder.

 

3.13 No Public Sale
or Distribution. The Securityholder: (i) is acquiring the Common Stock and New Warrant and (ii) upon exercise of the
New Warrant will acquire the Underlying Shares, in each case, for its own account and not with a view towards, or for resale in
connection with, the public sale or distribution thereof in violation of applicable securities laws, except pursuant to sales
registered or exempted under the Securities Act. The Securityholder does not presently have any agreement or understanding, directly
or indirectly, with any person to distribute any of the shares of Common Stock, the New Warrant or the Underlying Shares, for
its own account or with a view towards, or for resale in connection with, the public sale of securities in violation of applicable
securities laws.

 

3.14Information.
The Securityholder and its advisors, if any, have been furnished with all materials relating to the business, finances and operations
of the Company and materials relating to the offer and sale of the Common Stock and New Warrant which have been requested by the
Securityholder. The Securityholder and its advisors, if any, have been afforded the opportunity to ask questions of the Company.
The Securityholder understands that its exchange of the Common Stock and New Warrant involves a high degree of risk. The Securityholder
has sought such accounting, legal and tax advice as it has considered necessary to make an informed decision with respect to its
acquisition of the Common Stock and New Warrant. Without limiting the generality of the foregoing, the Securityholder has also
had the opportunity to obtain and to review: (i) the Company’s Private Placement Memorandum dated as of December 4, 2014,
as amended by Supplement No. 1 with respect to the offering of up to $8,855,0000 Units, each Unit comprised of four shares of
Common Stock and a warrant exercisable for one share of common stock at an exercise price of $1.75, (ii) the Company’s Quarterly
Reports on Form 10-Q for the quarters ended March 31, 2014, June 30, 2014 and September 30, 2014, and (iii) the Company’s
Annual Report on Form 10-K for the year ended December 31, 2013.

 

    	5

    	 

    

 

3.15 Transfer or
Resale. The Securityholder understands that: (i) the shares of Common Stock and New Warrant have not been and are not being
registered under the Securities Act or any state securities laws, and may not be offered for sale, sold, assigned or transferred
unless (A) subsequently registered thereunder; (B) the Securityholder shall have delivered to the Company (if requested by the
Company) an opinion of counsel to the Securityholder, in a form reasonably acceptable to the Company, to the effect that the shares
of Common Stock to be sold, assigned or transferred may be sold, assigned or transferred pursuant to an exemption from such registration;
or (C) the Securityholder provides the Company with reasonable assurance that the shares of Common Stock and New Warrant can be
sold, assigned or transferred pursuant to Rule 144 or Rule 144A promulgated under the Securities Act (or a successor rule thereto)
(collectively, “Rule 144”) and (ii) any sale of the shares of Common Stock and New Warrant made in reliance
on Rule 144 may be made only in accordance with the terms of Rule 144.

 

4.
COVENANTS.

 

4.1
Reasonable Best Efforts. The Company shall use its reasonable best efforts to timely satisfy each of the conditions
to be satisfied by it as provided in Section 6 of this Agreement. The Securityholder shall use its reasonable best efforts to
timely satisfy each of the conditions to be satisfied by it as provided in Section 5 of this Agreement.

 

4.2 Reservation
of Shares. The Company shall take all action necessary to at all times have authorized, and reserved for the purpose of issuance,
no less than the maximum number of Underlying Shares.

 

5.
CONDITIONS TO COMPANY’S OBLIGATIONS HEREUNDER.

 

The
obligations of the Company to the Securityholder hereunder are subject to the satisfaction of each of the following conditions
(except to the extent such condition is expressly conditional to a specific closing, in which case such condition shall only apply
to such specific closing), provided that these conditions are for the Company’s sole benefit and may be waived by the Company
at any time in its sole discretion by providing the Securityholder with prior written notice thereof:

 

5.1 The Securityholder
shall have duly executed this Agreement and delivered the same to the Company and shall have delivered the certificates evidencing
the Series B Preferred and the Existing Warrant (or, in the event of loss, theft or destruction of the Existing Warrant or the
Series B Preferred stock certificate, an affidavit with respect thereto in the form reasonably acceptable to the Company).

 

5.2
The representations and warranties of the Securityholder shall be true and correct in all material respects as of the date
when made and as of the Closing Date as though made at that time (except for representations and warranties that speak as of a
specific date which shall be true and correct as of such specified date), and the Securityholder shall have performed, satisfied
and complied in all material respects with the covenants, agreements and conditions required by this Agreement to be performed,
satisfied or complied with by the Securityholder at or prior to the Closing Date.

 

5.3No
statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or endorsed
by any court or governmental authority of competent jurisdiction that prohibits the consummation of any of the transactions contemplated
by this Agreement.

 

5.4The
Private Placement shall have been consummated.

 

    	6

    	 

    

 

6.
CONDITIONS TO THE SECURITYHOLDER’S OBLIGATIONS HEREUNDER.

 

The
obligations of the Securityholder hereunder are subject to the satisfaction of each of the following conditions (except to the
extent such condition is expressly conditional to a specific closing, in which case such condition shall only apply to such specific
closing), provided that these conditions are for the Securityholder’s sole benefit and may be waived by the Securityholder
at any time in its sole discretion by providing the Company with prior written notice thereof:

 

6.1The
Company shall have duly executed and delivered this Agreement to the Securityholder.

 

6.2Each
and every representation and warranty of the Company shall be true and correct in all material respects as of the date when made
and as of the Closing Date as though originally made at that time (except for representations and warranties that speak as of
a specific date, which shall be true and correct as of such date) and the Company shall have performed, satisfied and complied
in all material respects with the covenants, agreements and conditions required to be performed, satisfied or complied with by
the Company at or prior to the Closing Date.

 

6.3
The Company shall have obtained all governmental, regulatory or third party consents and approvals, if any, necessary for
the transactions contemplated by this Agreement.

 

6.4
No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated
or endorsed by any court or governmental authority of competent jurisdiction that prohibits the consummation of any of the transactions
contemplated by this Agreement.

 

6.5The
Private Placement Closing Date shall have occurred.

 

7. MISCELLANEOUS.

 

7.1 Legends.
The Securityholder acknowledges that the certificate(s) representing the shares of Common Stock and the New Warrant shall each
conspicuously set forth on the face or back thereof a legend in substantially the following form:

 

“THESE
SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR THE RULES AND REGULATIONS
PROMULGATED THEREUNDER, OR UNDER THE SECURITIES LAWS, RULES OR REGULATIONS OF ANY STATE; AND MAY NOT BE PLEDGED, HYPOTHECATED,
SOLD OR TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE ACT AND THE APPLICABLE
STATE SECURITIES LAWS, RULES OR REGULATIONS OR AN EXEMPTION THEREFROM DEEMED ACCEPTABLE BY COUNSEL TO THE COMPANY.”

 

7.2
Governing Law; Jurisdiction; Jury Trial. All questions concerning the construction, validity, enforcement and interpretation
of this Agreement shall be governed by the internal laws of the State of New York, without giving effect to any choice of law
or conflict of law provision or rule (whether of the State of New York or any other jurisdictions) that would cause the application
of the laws of any jurisdictions other than the State of New York.

 

    	7

    	 

    

 

7.3Arbitration.
Both parties shall resolve all disputes, controversies and differences which may arise between the parties, out of or in relation
to or in connection with this Agreement, after discussion in good faith attempting to reach an amicable solution. Provided that
such disputes, controversies and differences remain unsettled after discussion between the parties, both parties agree that those
unsettled matter(s) shall be finally settled by arbitration in New York, New York in accordance with the latest Rules of the American
Arbitration Association. Such arbitration shall be conducted by three arbitrators appointed as follows: each party will appoint
one arbitrator and the appointed arbitrators shall appoint a third arbitrator. If within 30 days after confirmation of the last
appointed arbitrator, such arbitrators have failed to agree upon a chairman, then the chairman will be appointed by the American
Arbitration Association. The decision of the tribunal shall be final and may not be appealed. The arbitral tribunal may, in its
discretion award fees and costs as part of its award. Judgment on the arbitral award may be entered by any court of competent
jurisdiction, including any court that has jurisdiction over either party or any of their assets. At the request of any party,
the arbitration proceeding shall be conducted in the utmost secrecy subject to a requirement of law to disclose. In such case,
all documents, testimony and records shall be received, heard and maintained by the arbitrators in secrecy, available for inspection
only by any party and by their attorneys and experts who shall agree, in advance and in writing, to receive all such information
in secrecy.

 

7.4
Counterparts. This Agreement may be executed simultaneously in two or more counterparts, any one of which need not
contain the signatures of more than one party, but all such counterparts taken together will constitute one and the same Agreement.
This Agreement, to the extent delivered by means of a facsimile machine or electronic mail (any such delivery, an “Electronic
Delivery”), shall be treated in all manner and respects as an original agreement or instrument and shall be considered to
have the same binding legal effect as if it were the original signed version thereof delivered in person. At the request of any
party hereto, each other party hereto shall re-execute original forms hereof and deliver them in person to all other parties.
No party hereto shall raise the use of Electronic Delivery to deliver a signature or the fact that any signature or agreement
or instrument was transmitted or communicated through the use of Electronic Delivery as a defense to the formation of a contract,
and each such party forever waives any such defense, except to the extent such defense related to lack of authenticity.

 

7.5
Headings. The headings of this Agreement are for convenience of reference and shall not form part of, or affect the
interpretation of, this Agreement.

 

7.6Severability.
If any provision of this Agreement is prohibited by law or otherwise determined to be invalid or unenforceable by a court of competent
jurisdiction, the provision that would otherwise be prohibited, invalid or unenforceable shall be deemed amended to apply to the
broadest extent that it would be valid and enforceable, and the invalidity or unenforceability of such provision shall not affect
the validity of the remaining provisions of this Agreement so long as this Agreement as so modified continues to express, without
material change, the original intentions of the parties as to the subject matter hereof and the prohibited nature, invalidity
or unenforceability of the provision(s) in question does not substantially impair the respective expectations or reciprocal obligations
of the parties or the practical realization of the benefits that would otherwise be conferred upon the parties. The parties will
endeavor in good faith negotiations to replace the prohibited, invalid or unenforceable provision(s) with a valid provision(s),
the effect of which comes as close as possible to that of the prohibited, invalid or unenforceable provision(s).

 

    	8

    	 

    

 

7.7
Entire Agreement; Amendments. This Agreement supersedes all other prior oral or written agreements between the Securityholder,
the Company, their affiliates and persons acting on their behalf with respect to the matters discussed herein, and this Agreement,
contains the entire understanding of the parties with respect to the matters covered herein and, except as specifically set forth
herein, neither the Company nor the Securityholder makes any representation, warranty, covenant or undertaking with respect to
such matters. No provision of this Agreement may be amended other than by an instrument in writing signed by the Company and the
Securityholder, and any amendment to this Agreement made in conformity with the provisions of this Section shall be binding upon
the Securityholder. No provision hereof may be waived other than by an instrument in writing signed by the party against whom
enforcement is sought.

 

7.8Notices.
Any notices, consents, waivers or other communications required or permitted to be given under the terms of this Agreement must
be in writing and will be deemed to have been delivered: (i) upon receipt, when delivered personally; (ii) upon receipt, when
sent by facsimile (provided confirmation of transmission is mechanically or electronically generated and kept on file by the sending
party); or (iii) one business day after deposit with an overnight courier service, in each case properly addressed to the party
to receive the same. The addresses and facsimile numbers for such communications shall be:

 

If to the
Company:

 

XRpro Sciences, Inc.

One Kendall Square

Cambridge, Massachusetts 02139

Attention: Richard Cunningham

 

 

with a copy
(for informational purposes only) to:

 

Gracin &
Marlow, LLP

The Chrysler
Building

405 Lexington
Avenue, 26th Floor

New York,
New York 10174

Telephone:
(212) 907-6457

Facsimile:
(212) 208-4657

Attention:
Leslie Marlow, Esq.

 

If to the
Securityholder:

 

 

 

with a copy
(for informational purposes only) to:

 

 

 

to
its address and facsimile number set forth above, or to such other address and/or facsimile number and/or to the attention of
such other person as the recipient party has specified by written notice given to each other party five days prior to the effectiveness
of such change. Written confirmation of receipt (A) given by the recipient of such notice, consent, waiver or other communication;
(B) mechanically or electronically generated by the sender's facsimile machine containing the time, date, recipient facsimile
number and an image of the first page of such transmission; or (C) provided by an overnight courier service shall be rebuttable
evidence of personal service, receipt by facsimile or receipt from an overnight courier service in accordance with clause (i),
(ii) or (iii) above, respectively.

 

    	9

    	 

    

 

7.9
Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their respective
successors and assigns, including any purchasers of the Series B Preferred. The Company shall not assign this Agreement or any
rights or obligations hereunder without the prior written consent of the Securityholder. The Securityholder may assign some or
all of its rights hereunder without the consent of the Company.

 

7.10Construction.
The language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent, and
no rules of strict construction will be applied against any party. No specific representation or warranty shall limit the generality
or applicability of a more general representation or warranty.

 

    	10

    	 

    

 

IN
WITNESS WHEREOF, the Securityholder and the Company have caused their respective signature pages to this Agreement to be duly
executed as of the date first written above.

 

	 	COMPANY:
	 	 
	 	XRPRO SCIENCES, INC. 
	 	 	 
	 	By:	 
	 	Name: 	Richard Cunningham
	 	Title:	President and Chief Executive Officer

 

	 	SECURITYHOLDER:
	 	 
	 	 
	 	Print Name
	 	 
	 	 
	 	Signature
	 	 
	 	 
	 	Name and Title of Signer
	 	 
	 	 
	 	Name (if Joint)
	 	 
	 	 
	 	Signature (if Joint)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00239-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00239-of-00352.parquet"}]]