Document:

Exhibit 10.2

 

SUBSCRIPTION AGREEMENT

 

SUBSCRIPTION
AGREEMENT (this “Subscription Agreement”) made as of the last date set forth on the signature page hereof between Avant
Diagnostics, Inc., a Nevada corporation (the “Company”), and the undersigned (the “Subscriber”).

 

W I T N E S S E T H:

 

WHEREAS,
the Company is conducting a private offering (the “Offering”) consisting of up to 500,000 shares of the Company’s
series C convertible preferred stock, par value $0.001 per share (the “Preferred Stock”), each share of Preferred Stock
having a stated value of $1.00 per share (the “Stated Value”) and convertible into shares (the “Conversion Shares”
and together with the Preferred Stock, the “Securities”) of the Company’s common stock, par value $0.00001 per
share (the “Common Stock”) with each share to be sold at a negotiated price of $1.00 per share (the “Offering
Price”);

 

WHEREAS,
the Offering is on a “reasonable efforts” basis as to the shares of Preferred Stock to be sold up to the maximum offering
amount of $500,000 (the “Maximum Offering”) to a limited number of “accredited investors” (as that term
is defined by Rule 501(a) of Regulation D (“Regulation D”) promulgated under the Securities Act of 1933, as amended
(the “Securities Act”);

 

WHEREAS,
the Company has retained Joseph Gunnar & Co., Inc. to act as its placement agent in connection with the sale of the Preferred
Stock pursuant to this Agreement (the “Placement Agent”); 

 

WHEREAS,
the Company is simultaneously conducting an offering of up to 1,500,000 shares of the Company’s series A convertible preferred
stock, par value $0.001 per share (the “Series A Preferred Stock”) on substantially the same terms as the Preferred
Stock being offered hereunder, the subscription for such shares of Series A Preferred Stock being made in accordance with and subject
to the terms and conditions of the Company’s Confidential Private Placement Memorandum dated February 12, 2018, as amended
and supplemented on May 21, 2018 and August 13, 2018, together with all amendments thereof and supplements and exhibits thereto
and as such may be amended from time to time (the “Memorandum”)

 

WHEREAS,
the Company and each Subscriber is executing and delivering this agreement in reliance upon the exemption from securities registration
afforded by Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D as promulgated by the SEC under the Securities Act;
and

 

WHEREAS
the subscription for the Securities will be made in accordance with and subject to the terms and conditions of this Subscription
Agreement; and

 

WHEREAS,
the Subscriber desires to purchase such number of shares of Preferred Stock as set forth on the signature page hereof on the terms
and conditions hereinafter set forth.

 

     

     

    

 

NOW, THEREFORE,
in consideration of the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

 

I. SUBSCRIPTION
FOR SHARES AND REPRESENTATIONS BY SUBSCRIBER

 

1.1 Subject to the terms and conditions
hereinafter set forth in this Agreement, the Subscriber hereby subscribes for and agrees to purchase from the Company, and the
Company agrees to sell to the Subscriber, such number of shares of Preferred Stock as is set forth on the signature page hereof.
The purchase price is payable by wire transfer, to be held in escrow until a closing occurs, to the Company as follows:

 

Bank: 

Address: 

ABA #: 

Account #: 

FBO: 

 

1.2 The
Subscriber understands acknowledges and agrees that, except as otherwise set forth in Section 3.2 herein or otherwise required
by law, that once irrevocable, the Subscriber is not entitled to cancel, terminate or revoke this Subscription Agreement or any
agreements of the Subscriber hereunder and that this Subscription Agreement and such other agreements shall survive the death or
disability of the Subscriber and shall be binding upon and inure to the benefit of the parties and their heirs, executors, administrators,
successors, legal representatives and permitted assigns. If the Subscriber is more than one person, the obligations of the Subscriber
hereunder shall be joint and several and the agreements, representations, warranties and acknowledgments herein contained shall
be deemed to be made by and be binding upon each such person and his/her heirs, executors, administrators, successors, legal representatives
and permitted assigns

 

1.3 The
Subscriber recognizes that the purchase of the Securities involves a high degree of risk including, but not limited to, the following:
(a) the Company requires substantial funds in addition to the proceeds of the Offering; (b) an investment in the Company is highly
speculative, and only investors who can afford the loss of their entire investment should consider investing in the Company and
the Securities; (c) the Subscriber may not be able to liquidate his, her or its investment; (d) transferability of the Securities
(including any securities issuable upon conversion and/or exercise of the Securities) is extremely limited; (e) in the event of
a disposition, the Subscriber could sustain the loss of its entire investment; and (f) the Company has not paid any dividends since
its inception and does not anticipate paying any dividends.

 

1.4 At
the time such Subscriber was offered the Securities, it was, and as of the date hereof it is, and on each date on which it converts
the Preferred Stock, it will be an “accredited investor” as defined in Rule 501(a) under the Securities Act, as indicated
by the Subscriber’s responses to the investor questionnaire attached as Exhibit A to this Subscription Agreement, and that
the Subscriber is able to bear the economic risk of an investment in the Securities.

 

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1.5 The
Subscriber hereby acknowledges and represents that (a) the Subscriber has adequate means of providing for the Subscriber’s
current financial needs and contingencies, (b) the Subscriber has knowledge and experience in business and financial matters, prior
investment experience, including investment in securities that are non-listed, unregistered and/or not traded on a national securities
exchange or the Subscriber has employed the services of a “purchaser representative” (as defined in Rule 501 of Regulation
D), attorney and/or accountant to read all of the documents furnished or made available by the Company both to the Subscriber and
to all other prospective investors in the Securities to evaluate the merits and risks of such an investment on the Subscriber’s
behalf; (c) the Subscriber recognizes the highly speculative nature of this investment; (d) the Subscriber is able to bear the
economic risk that the Subscriber hereby assumes, (e) the Subscriber could afford a complete loss of such investment in the Securities.

 

1.6 The
Subscriber hereby acknowledges receipt and careful review of this Subscription Agreement, the Memorandum, the certificate of designation
to be filed with the Secretary of State of the State of Nevada for the Preferred Stock (the “Certificate of Designations”)
and all other exhibits, annexes and appendices thereto (collectively referred to as the “Offering Materials”), and
has had access to the Company’s periodic and current reports filed with the United States Securities and Exchange Commission
(the “SEC”) as publicly filed with and available at the website of the SEC which can be accessed at www.sec.gov, and
hereby represents that the Subscriber has been furnished by the Company during the course of the Offering with all information
regarding the Company, the terms and conditions of the Offering and any additional information that the Subscriber has requested
or desired to know, and has been afforded the opportunity to ask questions of and receive answers from duly authorized officers
or other representatives of the Company concerning the Company and the terms and conditions of the Offering; provided, however
that no investigation performed by or on behalf of the Subscriber shall limit or otherwise affect its right to rely on the representations
and warranties of the Company contained herein. By the date of signature to this Subscription Agreement, the Subscriber (along
with its advisors) acknowledges its ability to conduct its own due diligence, research and evaluation of the financial condition
and integrity of the parties involved and the particular transaction, and affirms it has made its own appraisal of, and investigation
into, the Company’s business, property, financial and other condition and creditworthiness which has been completed to the
Subscriber’s total satisfaction.

 

1.7 (a)
In making the decision to invest in the Securities, the Subscriber has relied solely upon the information provided by the Company
in the Offering Materials. To the extent necessary, the Subscriber has retained, at its own expense, and relied upon appropriate
professional advice regarding the investment, tax and legal merits and consequences of this Subscription Agreement and the purchase
of the Securities hereunder. The Subscriber disclaims reliance on any statements made or information provided by any person or
entity in the course of Subscriber’s consideration of an investment in the Securities other than the Offering Materials and
the results of Subscriber’s own independent investigation.

 

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(b)
The Subscriber represents that (i) the Subscriber was contacted regarding the sale of the Securities by the Company or the
Placement Agent (or another person whom the Subscriber believed to be an authorized agent or representative thereof) with
whom the Subscriber had a prior substantial pre-existing relationship and (ii) it did not learn of the offering of the
Securities by means of any form of general solicitation or general advertising, and in connection therewith, the Subscriber
did not (A) receive or review any advertisement, article, notice or other communication published in a newspaper or magazine
or similar media or broadcast over television or radio, whether closed circuit, or generally available; or (B) attend any
seminar meeting or industry investor conference whose attendees were invited by any general solicitation or general
advertising.

 

1.8 The
Subscriber hereby acknowledges that the Offering has not been reviewed by the SEC nor any state regulatory authority since the
Offering is intended to be exempt from the registration requirements of Section 5 of the Securities Act, pursuant to Section 4(a)(2)
of the Securities Act and Rule 506 of Regulation D. The Subscriber understands that the Securities have not been registered under
the Securities Act or under any state securities or “blue sky” laws and agrees not to sell, pledge, assign or otherwise
transfer or dispose of the Securities unless they are registered under the Securities Act and under any applicable state securities
or “blue sky” laws or unless an exemption from such registration is available.

 

1.9 The
Subscriber understands that the Securities (have not been registered under the Securities Act by reason of a claimed exemption
under the provisions of the Securities Act that depends, in part, upon the Subscriber’s investment intention. In this connection,
the Subscriber hereby represents that the Subscriber is purchasing the Securities for the Subscriber’s own account for investment
and not with a view toward the resale or distribution to others; provided, however, that nothing contained herein shall constitute
an agreement by the Subscriber to hold the Securities for any particular length of time and the Company acknowledges that the Subscriber
shall at all times retain the right to dispose of its property as it may determine in its sole discretion, subject to any restrictions
imposed by applicable law. The Subscriber, if an entity, further represents that it was not formed for the purpose of purchasing
the Securities.

 

1.10 The
Subscriber consents to the placement of a legend on any certificate or other document evidencing the Securities and, that such
securities have not been registered under the Securities Act or any state securities or “blue sky” laws and setting
forth or referring to the restrictions on transferability and sale thereof contained in this Subscription Agreement. The Subscriber
is aware that the Company will make a notation in its appropriate records with respect to the restrictions on the transferability
of such Securities. The legend to be placed on each certificate shall be in form substantially similar to the following:

 

“THE SECURITIES
REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”)
OR ANY STATE SECURITIES OR “BLUE SKY LAWS,” AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, ASSIGNED, PLEDGED OR HYPOTHECATED
ABSENT AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT OR COMPLIANCE WITH RULE 144 PROMULGATED UNDER SUCH ACT, OR UNLESS THE COMPANY
HAS RECEIVED AN OPINION OF COUNSEL, REASONABLY SATISFACTORY TO THE COMPANY AND ITS COUNSEL, THAT SUCH REGISTRATION
IS NOT REQUIRED.”

 

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1.11 The
Subscriber hereby represents that the address of the Subscriber furnished by Subscriber on the signature page hereof is the Subscriber’s
principal residence if Subscriber is an individual or its principal business address if it is a corporation or other entity.

 

1.12 The
Subscriber represents that the Subscriber has full power and authority (corporate, statutory and otherwise) to execute and deliver
this Subscription Agreement and to purchase the Securities. This Subscription Agreement constitutes the legal, valid and binding
obligation of the Subscriber, enforceable against the Subscriber in accordance with its terms.

 

1.13 If
the Subscriber is a corporation, partnership, limited liability company, trust, employee benefit plan, individual retirement account,
Keogh Plan, or other tax-exempt entity, it is authorized and qualified to invest in the Company and the person signing this Subscription
Agreement on behalf of such entity has been duly authorized by such entity to do so.

 

1.14 The
Subscriber acknowledges that if he or she is a Registered Representative of a Financial Industry Regulatory Authority (“FINRA”)
member firm, he or she must give such firm the notice required by the FINRA’s Rules of Fair Practice, receipt of which must
be acknowledged by such firm.

 

1.15 To
effectuate the terms and provisions hereof, until the consummation of the Reverse Split (as defined herein), the Subscriber hereby
appoint ADVX Investor Group LLC (the “Investor Representative”) as its attorney-in-fact (and the Investor Representative
hereby accepts such appointment) for the purpose of carrying out the Shareholder Approval (as defined herein) including, without
limitation, taking any action on behalf of, or at the instruction of, the Subscriber and executing any documentation required and
taking any action and executing any instrument that the Investor Representative may deem necessary or advisable (and lawful) to
accomplish the purposes hereof. All acts done under the foregoing authorization are hereby ratified and approved and neither the
Investor Representative nor any designee nor agent thereof shall be liable for any acts of commission or omission, for any error
of judgment, for any mistake of fact or law except for acts of gross negligence or willful misconduct. This power of attorney,
being coupled with an interest, is irrevocable while the until the Reverse Split is consummated.

 

1.16 The
Subscriber agrees not to issue any public statement with respect to the Offering, Subscriber’s investment or proposed investment
in the Company or the terms of any agreement or covenant between them and the Company without the Company’s prior written
consent, except such disclosures as may be required under applicable law.

 

1.17 The
Subscriber understands, acknowledges and agrees with the Company that this subscription may be rejected, in whole or in part, by
the Company, in the sole and absolute discretion of the Company, at any time before any Closing notwithstanding prior receipt by
the Subscriber of notice of acceptance of the Subscriber’s subscription.

 

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1.18 The
Subscriber acknowledges that the information contained in the Offering Materials or otherwise made available to the Subscriber
is confidential and non- public, has been delivered to it in reliance upon agreement to maintain the confidentiality of the information
and upon Regulation FD promulgated by the Commission, and agrees that all such information shall be kept in confidence by the Subscriber
and neither used by the Subscriber for the Subscriber’s personal benefit (other than in connection with this subscription)
nor disclosed to any third party for any reason, notwithstanding that a Subscriber’s subscription may not be accepted by
the Company; provided, however, that (a) the Subscriber may disclose such information to its affiliates and advisors who may have
a need for such information in connection with providing advice to the Subscriber with respect to its investment in the Company
so long as such affiliates and advisors have an obligation of confidentiality, and (b) this obligation shall not apply to any such
information that (i) is part of the public knowledge or literature and readily accessible at the date hereof, (ii) becomes part
of the public knowledge or literature and readily accessible by publication (except as a result of a breach of this provision)
or (iii) is received from third parties without an obligation of confidentiality (except third parties who disclose such information
in violation of any confidentiality agreements or obligations, including, without limitation, any subscription or other similar
agreement entered into with the Company).

 

1.19 The
Subscriber understands that the Securities being offered and sold to it in reliance on specific exemptions from the registration
requirements of United States federal and state securities laws and that the Company is relying in part upon the truth and accuracy
of, and such Subscriber’s compliance with, the representations, warranties, agreements, acknowledgements and understandings
of such Subscriber set forth herein in order to determine the availability of such exemptions and the eligibility of such Subscriber
to acquire the Securities. The Subscriber agrees to supply the Company, within five (5) days after the Subscriber receives the
request therefor from the Company, with such additional information concerning the Subscriber as the Company deems necessary or
advisable

 

1.20 The
Subscriber understands that Rule 144 promulgated under the Act (“Rule 144”) requires, among other conditions, a minimum
holding period of six-months prior to the resale of securities acquired in a non-public offering without having to satisfy the
registration requirements under the Act. The Subscriber understands and hereby acknowledges that the Company is under no obligation
to register the Securities under the Act or any state securities or “blue sky” laws or to assist the Subscriber in
obtaining an exemption from various registration requirements, other than as set forth herein.

 

1.21 The
Subscriber agrees to hold the Company and its directors, officers, employees, controlling persons and agents (including the
Placement Agent and its managers, members, officers, directors, employees, counsel, controlling persons and agents) and their
respective heirs, representatives, successors and assigns harmless from and to indemnify them against all liabilities, costs
and expenses incurred by them as a result of (i) any misrepresentation made by the Subscriber contained in this Subscription
Agreement (including Article VII hereunder) or breach of any warranty by the Subscriber in this Subscription Agreement or in
any Exhibits or Schedules attached hereto; (ii) any untrue statement of a material fact made by the Subscriber and contained
herein; or (iii) after any applicable notice and/or cure periods, any breach or default in performance by the Subscriber of
any covenant or undertaking to be performed by the Subscriber hereunder, or any other Offering Materials entered into by the
Company and Subscriber relating hereto. Notwithstanding the foregoing, in no event shall the liability of the Subscriber
hereunder be greater than the aggregate subscription amount paid for the Securities as set forth on the signature page
hereto.

 

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1.22 If
the Subscriber is purchasing the Securities in a fiduciary capacity for another person or entity, including without limitation
a corporation, partnership, trust or any other entity, the Subscriber has been duly authorized and empowered to execute this Subscription
Agreement and all other subscription documents, and such other person fulfills all the requirements for purchase of the Securities
as such requirements are set forth herein, concurs in the purchase of the Securities and agrees to be bound by the obligations,
representations, warranties and covenants contained herein. Upon request of the Company, the Subscriber will provide true, complete
and current copies of all relevant documents creating the Subscriber, authorizing its investment in the Company and/or evidencing
the satisfaction of the foregoing.

 

1.23 Neither
the Subscriber nor, to the Subscriber’s knowledge, any of its directors, executive officers, other officers that may serve
as a director or officer of any company in which it invests, general partners or managing members is subject to any Disqualification
Events, except for Disqualification Events covered by Rule 506(d)(2)(ii) or (iii) under the Securities Act, and disclosed in writing
in reasonable detail to the Company.

 

1.24 Each
Subscriber understands that the Company is not current in its reporting obligations with the SEC and that the Company was previously
was a “shell company” as defined in Rule 12b-2 under the Exchange Act. Pursuant to Rule 144(i), securities issued by
a current or former shell company that otherwise meet the holding period and other requirements of Rule 144 nevertheless cannot
be sold in reliance on Rule 144 until one year after the Company (a) is no longer a shell company; and (b) has filed current
“Form 10 information” (as defined in Rule 144(i)) with the SEC reflecting that it is no longer a shell company, and
provided that at the time of a proposed sale pursuant to Rule 144, the Company is subject to the reporting requirements of Section
13 or 15(d) of the Exchange Act and has filed all reports and other materials required to be filed by Section 13 or 15(d) of the
Exchange Act, as applicable, during the preceding 12 months (or for such shorter period that the issuer was required to file such
reports and materials), other than Form 8-K reports. As a result, the restrictive legends on certificates for the Preferred
Stock and any Common Stock to be issued in exchange of such shares, cannot be removed except in connection with an actual sale
meeting the foregoing requirements or pursuant to an effective registration statement.

 

1.25 The
Subscriber acknowledges that the Company is simultaneously conducting an offering of up to one million five hundred thousand shares
of Series A Preferred Stock to investors for aggregate gross proceeds of up to a maximum of $1,500,000 as set forth in the Memorandum
(the “Concurrent Offering”). Each share of Series A Preferred Stock sold in the Concurrent Offering will be
sold at a price of $1.00 per share. No assurance can be given that any shares of Series A Preferred Stock to be offered in the
Concurrent Offering after the date hereof will be sold. The Subscriber also acknowledges that the Corporation may pay to the Placement
Agent fees and expenses of the gross proceeds of the Concurrent Offering as set forth in the Memorandum.

 

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II. REPRESENTATIONS
BY AND COVENANTS OF THE COMPANY

 

The Company
hereby represents and warrants to the Subscriber that:

 

2.1 Organization,
Good Standing and Qualification. The Company is a corporation duly organized, validly existing and in good standing under the
laws of the State of Nevada and has full corporate power and authority to own and use its properties and its assets and conduct
its business as currently conducted. Each of the Company’s subsidiaries (the “Subsidiaries”) is an entity duly
organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation with the requisite corporate
power and authority to own and use its properties and assets and to conduct its business as currently conducted. Neither the Company,
nor any of its Subsidiaries is in violation of any of the provisions of their respective articles of incorporation, by-laws or
other organizational or charter documents, including, but not limited to the Charter Documents (as defined below). Each of the
Company and its Subsidiaries is duly qualified to conduct business and is in good standing as a foreign corporation in each jurisdiction
in which the nature of the business conducted or property owned by it makes such qualification necessary, except where the failure
to be so qualified or in good standing, as the case may be, would not result in a direct and/or indirect (i) material adverse effect
on the legality, validity or enforceability of any of the Securities and/or this Subscription Agreement, (ii) material adverse
effect on the results of operations, assets, business, condition (financial and other) or prospects of the Company and its Subsidiaries,
taken as a whole, or (iii) material adverse effect on the Company’s ability to perform in any material respect on a timely
basis its obligations under the Offering Materials (as defined below) (any of (i), (ii) or (iii), a “Material Adverse Effect”).

 

2.2 Authorization;
Enforceability. The Company has all corporate right, power and authority to enter into, execute and deliver this Subscription
Agreement and each other agreement, document, instrument and certificate to be executed by the Company in connection with the consummation
of the transactions contemplated hereby, including, but not limited to the Offering Materials, and to perform fully its obligations
hereunder and thereunder. All corporate action on the part of the Company, its directors and stockholders necessary for the (a)
authorization execution, delivery and performance of this Subscription Agreement and the Offering Materials by the Company; and
(b) authorization, sale, issuance and delivery of the Securities contemplated hereby and the performance of the Company’s
obligations under this Subscription Agreement and the Offering Materials has been taken. This Subscription Agreement and the Offering
Materials have been duly executed and delivered by the Company and each constitutes a legal, valid and binding obligation of the
Company, enforceable against the Company in accordance with its respective terms, subject to laws of general application relating
to bankruptcy, insolvency and the relief of debtors and rules of law governing specific performance, injunctive relief or other
equitable remedies, and to limitations of public policy. The Securities are duly authorized and, when issued and paid for in accordance
with the applicable Offering Materials, will be duly and validly issued, fully paid and nonassessable, free and clear of all encumbrances
other than restrictions on transfer provided for in the Offering Materials. Except as set forth on Schedule 2.3 hereto,
the issuance and sale of the Securities contemplated hereby will not give rise to any preemptive rights or rights of first refusal
on behalf of any person.

 

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2.3 No
Conflict; Governmental Consents.

 

(a) The
execution and delivery by the Company of this Subscription Agreement and the Offering Materials, the issuance and sale of the Securities
and the consummation of the other transactions contemplated hereby or thereby do not and will not (i) result in the violation of
any law, statute, rule, regulation, order, writ, injunction, judgment or decree of any court or governmental authority to or by
which the Company is bound including without limitation all foreign, federal, state and local laws applicable to its business and
all such laws that affect the environment, except in each case as could not have or reasonably be expected to result in a Material
Adverse Effect, (ii) conflict with or violate any provision of the Company’s Articles of Incorporation (the “Articles”),
as amended or the Bylaws, (and collectively with the Articles, the “Charter Documents”) of the Company, and (iii) conflict
with, or result in a material breach or violation of, any of the terms or provisions of, or constitute (with or without due notice
or lapse of time or both) a default or give to others any rights of termination, amendment, acceleration or cancellation (with
or without due notice, lapse of time or both) under any agreement, credit facility, lease, loan agreement, mortgage, security agreement,
trust indenture or other agreement or instrument to which the Company or any Subsidiary is a party or by which any of them is bound
or to which any of their respective properties or assets is subject, nor result in the creation or imposition of any Encumbrances
upon any of the properties or assets of the Company or any Subsidiary.

 

(b) Except
for the Charter Amendment and the Reverse Stock Split as discussed in the Memorandum, no approval by the holders of Common Stock,
or other equity securities of the Company is required to be obtained by the Company in connection with the authorization, execution,
delivery and performance of this Subscription Agreement and the other Offering Materials or in connection with the authorization,
issue and sale of the Securities, except as has been previously obtained.

 

(c) Except
as set forth on Schedule 2.4 hereto, no consent, approval, authorization or other order of any governmental authority or
any other person is required to be obtained by the Company in connection with the authorization, execution, delivery and performance
of this Subscription Agreement and the other Offering Materials or in connection with the authorization, issue and sale of the
Securities and, upon issuance, the Underlying Shares, except such post-sale filings as may be required to be made with the SEC,
FINRA and with any state or foreign blue sky or securities regulatory authority, all of which shall be made when required.

 

2.4 Consents
of Third Parties. No vote, approval or consent of any holder of capital stock of the Company or any other third parties is
required or necessary to be obtained by the Company in connection with the authorization, execution, deliver and performance of
this Subscription Agreement and the other Offering Materials or in connection with the authorization, issue and sale of the Securities
and, upon issuance, the Warrant Shares, except as previously obtained, each of which is in full force and effect.

 

2.5 Brokers.
Except for the fees paid to the Placement Agent as described on Schedule 2.5, neither the Company nor any of the Company’s officers,
directors, employees or stockholders has employed or engaged any broker or finder in connection with the transactions contemplated
by this Subscription Agreement and no fee or other compensation is or will be due and owing to any broker, finder, underwriter,
placement agent or similar person in connection with the transactions contemplated by this Subscription Agreement. Except for the
Placement Agent, the Company is not party to any other agreement, arrangement or understanding whereby any person has an exclusive
right to raise funds and/or place or purchase any debt or equity securities for or on behalf of the Company.

 

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2.6 Bad
Actor Disqualification

 

(a) No
Disqualification Events. With respect to Securities to be offered and sold hereunder in reliance on Rule 506 under the Securities
Act (“Regulation D Securities”), none of the Company, any of its predecessors, any affiliated issuer, any director, executive
officer, other officer of the Company participating in the offering, any beneficial owner of 20% or more of the Company’s outstanding
voting equity securities, calculated on the basis of voting power, nor any promoter (as that term is defined in Rule 405 under
the Securities Act) connected with the Company in any capacity at the time of sale (each, an “Issuer Covered Person”
and, together, “Issuer Covered Persons”) is subject to any of the “Bad Actor” disqualifications described in
Rule 506(d)(1)(i) to (viii) under the Securities Act (a “Disqualification Event”), except for a Disqualification Event
covered by Rule 506(d)(2) or (d)(3). The Company has exercised reasonable care to determine whether any Issuer Covered Person is
subject to a Disqualification Event. The Company has complied, to the extent applicable, with its disclosure obligations under
Rule 506(e), and has furnished to the Placement Agent and the Subscriber a copy of any disclosures provided thereunder.

 

(b) Other
Covered Persons. The Company is not aware of any person that (i) has been or will be paid (directly or indirectly) remuneration
for solicitation of purchasers in connection with the sale of the Securities and (ii) who is subject to a Disqualification Event.

 

(c) Notice
of Disqualification Events. The Company will notify the Placement Agent in writing of (i) any Disqualification Event relating
to any Issuer Covered Person and (ii) any event that would, with the passage of time, become a Disqualification Event relating
to any Issuer Covered Person, prior to any Closing of this Offering.

 

III.
TERMS OF SUBSCRIPTION

 

3.1 The
Securities will be offered for sale until the earlier of (i) the date upon which subscriptions for the Maximum Offering offered
hereunder have been accepted, (ii) until October 30, 2018, or (iii) the date upon which the Company and the Placement Agent elect
to terminate the Offering (the “Termination Date”). The Offering is being conducted on a “reasonable efforts”
basis for the Maximum Offering.

 

3.2 The
Company may hold an initial closing (“Initial Closing”) at any time after the receipt of accepted subscriptions by
the Company. After the Initial Closing, subsequent closings with respect to additional Securities may take place at any time prior
to the Termination Date as determined by the Company and the Placement Agent, with respect to subscriptions accepted prior to the
Termination Date (each such closing, together with the Initial Closing, being referred to as a “Closing”). The last
Closing of the Offering, occurring on or prior to the Termination Date, shall be referred to as the “Final Closing”.
Any subscription documents or funds received after the Final Closing will be returned, without interest or deduction. In the event
that the any Closing does not occur prior to the Termination Date, all amounts paid by the Subscriber shall be returned to the
Subscriber, without interest or deduction. The Subscriber may revoke its subscription and obtain a return of the subscription amount
paid to the Company’s bank account at any time before the date of the Initial Closing by providing written notice to the
Placement Agent and the Company as provided in Section 6.1 below. Upon receipt of a revocation notice from the Subscriber prior
to the date of the Initial Closing, all amounts paid by the Subscriber shall be returned to the Subscriber, without interest or
deduction. The Subscriber may not revoke this subscription or obtain a return of the subscription amount paid to the Escrow Agent
on or after the date of the Initial Closing. Any subscription received after the Initial Closing but prior to the Termination Date
shall be irrevocable. Subscriber acknowledges that funds from any Closing will be held in a control account and will not be able
to be used by the Company without the consent of the Investor Representative.

 

3.3 The
minimum purchase that may be made by any prospective investor shall be $100,000. Subscriptions for investment below the minimum
investment may be accepted at the discretion of the Placement Agent and the Company. The Company and the Placement Agent reserve
the right to reject any subscription made hereby, in whole or in part, in their sole discretion. The Company’s agreement
with each Subscriber is a separate agreement and the sale of the Securities to each Subscriber is a separate sale. The Placement
Agent and the Company may agree to increase the Maximum Offering of the Concurrent Offering amount up to $2,000,000 without prior
notice to the Subscribers.

 

3.4 All
funds shall be deposited in the account identified in Section 1.1 hereof.

 

3.5 Certificates
representing the Preferred Stock purchased by the Subscriber pursuant to this Subscription Agreement will be prepared for delivery
to the Subscriber as soon as practicable following the Closing (but in no event later than seven (7) days after a Closing) at which
such purchase takes place. The Subscriber hereby authorizes and directs the Company to deliver the certificates representing the
Securities purchased by the Subscriber pursuant to this Subscription Agreement directly to the Subscriber’s residential or
business or brokerage house address indicated on the signature page hereto.

 

3.6 The
Company’s agreement with each Subscriber is a separate agreement and the sale of Securities to each Subscriber is a separate
sale.

 

    -10-

     

    

 

IV. CONDITIONS
TO OBLIGATIONS OF THE SUBSCRIBER

 

4.1 The
Subscriber’s obligation to purchase the Securities at the Closing at which such purchase is to be consummated is subject
to the fulfillment on or prior to such Closing of the following conditions, which conditions may be waived at the option of each
Subscriber to the extent permitted by law:

 

(a) Representations
and Warranties; Covenants. The representations and warranties made by the Company in Section 2 hereof qualified as to materiality
shall be true and correct at all times prior to and on the Closing Date(s), except to the extent any such representation or warranty
expressly speaks as of an earlier date, in which case such representation or warranty shall be true and correct as of such earlier
date, and, the representations and warranties made by the Company in Section 2 hereof not qualified as to materiality shall be
true and correct in all material respects at all times prior to and on the Closing Date, except to the extent any such representation
or warranty expressly speaks as of an earlier date, in which case such representation or warranty shall be true and correct in
all material respects as of such earlier date. All covenants, agreements and conditions contained in this Subscription Agreement
to be performed by the Company on or prior to the date of such Closing shall have been performed or complied with in all material
respects.

 

(b) No
Legal Order Pending. There shall not then be in effect any legal or other order enjoining or restraining the transactions contemplated
by this Subscription Agreement.

 

(c) No
Law Prohibiting or Restricting Such Sale. There shall not be in effect any law, rule or regulation prohibiting or restricting
such sale or requiring any consent or approval of any person, which shall not have been obtained, to issue the Securities (except
as otherwise provided in this Subscription Agreement).

 

(d) Required
Consents. The Company shall have obtained any and all consents, permits, approvals, registrations and waivers necessary or
appropriate for consummation of the purchase and sale of the Securities and the consummation of the other transactions contemplated
by the Offering Materials, all of which shall be in full force and effect.

 

(e) Adverse
Changes. As of the date of execution of this Subscription Agreement, no event or series of events shall have occurred that
reasonably could have or result in a Material Adverse Effect.

 

(f)
Conditions Precedent. As of the date of this Agreement, all conditions precedent are completed for the closing of the Offering.

 

V. COVENANTS
OF THE COMPANY

 

5.1 Listing
of Securities. The Company agrees, (i) if the Company applies to have the Common Stock traded on any other trading market and
(ii) it will take all action reasonably necessary to continue the listing and trading of its Common Stock on a trading market and
will comply in all material respects with the Company’s reporting, filing and other obligations under the bylaws or rules
of the trading market.

 

    -11-

     

    

 

5.2 Replacement
of Securities. If any certificate or instrument evidencing any Securities is mutilated, lost, stolen or destroyed, the Company
shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof, or in lieu of and substitution
therefor, a new certificate or instrument, but only upon receipt of evidence reasonably satisfactory to the Company of such loss,
theft or destruction and customary and reasonable indemnity, if requested. The applicants for a new certificate or instrument under
such circumstances shall also pay any reasonable third-party costs associated with the issuance of such replacement securities.
If a replacement certificate or instrument evidencing any securities is requested due to a mutilation thereof, the Company may
require delivery of such mutilated certificate or instrument as a condition precedent to any issuance of a replacement.

 

5.3 Furnishing
of Information. As long as Subscriber owns Securities, if the Company is not required to file reports pursuant to the Exchange
Act, it will prepare and furnish to Subscriber and make publicly available in accordance with Rule 144(c) such information as is
required for the Subscribers to sell the Securities under Rule 144. The Company further covenants that it will take such further
action as any holder of Securities may reasonably request, to the extent required from time to time to enable such person to sell
such Securities without registration under the Securities Act within the requirements of the exemption provided by Rule 144.

 

5.4 Securities
Laws; Publicity. The Company shall, by 8:30 a.m. (New York City time) on the fourth Trading Day immediately following a Closing
hereunder, issue a Current Report on Form 8-K disclosing the material terms of the transactions contemplated hereby and including
the Offering Materials as exhibits thereto. The Company shall not publicly disclose the name of Subscriber, or include the name
of any Subscriber in any filing with the Commission or any regulatory agency or trading market, without the prior written consent
of Subscriber, except: (a) as required by federal securities law in connection with (i) any registration statement contemplated
by this Subscription Agreement and (ii) the filing of final Offering Materials (including signature pages thereto) with the SEC
and (b) to the extent such disclosure is required by law, in which case the Company shall provide the Subscriber with prior notice
of such disclosure permitted under this clause (b).

 

5.5 Form
D; Blue Sky Filings. The Company agrees to timely file a Form D with respect to the Securities as required under Regulation
D and to provide a copy thereof, promptly upon request of the Subscriber. The Company shall take such action as the Company shall
reasonably determine is necessary in order to obtain an exemption for, or to qualify the Securities for, sale to the Subscriber
at the Closing under applicable securities or “Blue Sky” laws of the states of the United States, and shall provide
evidence of such actions promptly upon request of any Subscriber.

 

5.6 Use
of Proceeds. Except as set forth in the Memorandum, the Company shall not use the net proceeds from the sale of the Securities
hereunder for the redemption of any Common Stock or Common Stock equivalents. The Company acknowledges that $100,000 from the Concurrent
Offering will be held in a segregated account until Directors and Officer’s Insurance is obtained by the Company. Such funds
will be released by the Company upon acquisition of such insurance.

 

    -12-

     

    

 

5.7 Follow-On
Investment. For a period of one year from the date of Final Closing, Subscribers holding at least a majority of the Preferred
Stock outstanding from time to time shall have the right to cause the Corporation to sell for cash to such Subscribers on a pro
rata basis up to an aggregate of $1,000,000 of Common Stock in one or more transactions at a 10% discount to the average closing
price of the Common Stock (as reported for consolidated transactions with respect to securities listed on the principal national
securities exchange on which the Common Stock is listed or admitted to trading or, if the Common Stock is not listed or admitted
to trading on any national securities exchange, then in the over- the-counter market, as reported on any tier maintained by the
OTC Markets Group, Inc.) for the thirty (30) consecutive trading days immediately prior to (and including) the Friday preceding
the the date of such purchase or purchases. The Holders may exercise such right by delivering in accordance with the notice provisions
of this Subscription Agreement a written notice thereof to the Corporation specifying the amount of Common Stock which the Holders
intend to purchase. The Corporation and the Holders shall cooperate to close such sale as soon as reasonably practical after receipt
by the Corporation of such notice. Such sale shall be on terms and conditions customary for transactions of this type.

 

5.8 Intentionally
Omitted.

 

5.9 Corporate
Governance. The Company shall use commercially reasonable efforts to increase the number of members on its Board of Directors
to nine (9) members and for as long as Subscribers hold the Preferred Stock, the Company shall not increase the number of members
on the Board of Directors unless such increase is required under applicable rules and regulations of an national securities exchange
so a majority of the members on its Board of Directors shall be considered “independent directors” within the meaning
of the rules of such exchange in connection with an up-listing of the Company’s Common Stock.

 

5.10 Stockholder
Approval. As soon as practicable after the Final Closing, the Company shall use commercially reasonable efforts to take all
necessary actions and to obtain such approvals of the Company’s stockholders as may be required to increase the Company’s
authorized shares of Common Stock such that the Company can issue all of the shares of Common Stock issuable upon completion of
the restructuring and undertake a reverse stock split at such ratio where the number of shares of Common Stock outstanding after
consummation of such reverse stock split shall be approximately 15,000,000 shares (the “Reverse Split”) before the
conversion of the Preferred Stock and the Series A Preferred Stock issued in the Concurrent Offering, all in accordance with the
Nevada Revised Statutes (the “Stockholder Approval”). The Company shall furnish to each Subscriber and its legal counsel
promptly (but in no event less than one (1) business days) before the same is filed with the SEC, one copy of the proxy or information
statement and any amendment thereto, and shall deliver to each Subscriber promptly each letter written by or on behalf of the Company
to the SEC or the staff of the SEC, and each item of correspondence from the SEC or the staff of the SEC, in each case relating
to such proxy or information statement (other than any portion thereof which contains information for which the Company has sought
confidential treatment).

 

    -13-

     

    

 

5.11
Participation in Future Financing.

 

(a) From
the date hereof until the consummation of the Reverse Split, upon any issuance by the Company of Common Stock or Common Stock Equivalents
(as defined in the Certificate of Designations) for cash consideration, indebtedness or a combination of units thereof (a “Subsequent
Financing”) and other than an equity line of credit, each Qualifying Purchaser (as defined below) shall have the right
to participate in up to an amount of the Subsequent Financing equal to 50% of the Subsequent Financing(the “Participation
Maximum”) on the same terms, conditions and price provided for in the Subsequent Financing. For purposes herein, “Qualifying
Purchaser” means a Purchaser with a Subscription Amount of at least $150,000.

 

(b) Between
the time period of 4:00 pm (New York City time) and 6:00 pm (New York City time) on the Trading Day immediately prior to the Trading
Day of the expected announcement of the Subsequent Financing (or, if the Trading Day of the expected announcement of the Subsequent
Financing is the first Trading Day following a holiday or a weekend (including a holiday weekend), between the time period of 4:00
pm (New York City time) on the Trading Day immediately prior to such holiday or weekend and 2:00 pm (New York City time) on the
day immediately prior to the Trading Day of the expected announcement of the Subsequent Financing), the Company shall deliver to
each Qualifying Purchaser a written notice of the Company’s intention to effect a Subsequent Financing (a “Subsequent
Financing Notice”), which notice shall describe in reasonable detail the proposed terms of such Subsequent Financing,
the amount of proceeds intended to be raised thereunder and the Person or Persons through or with whom such Subsequent Financing
is proposed to be effected and shall include a term sheet and transaction documents relating thereto as an attachment.

 

(c) Any
Qualifying Purchaser desiring to participate in such Subsequent Financing must provide written notice to the Company by 6:30 am
(New York City time) on the Trading Day following the date on which the Subsequent Financing Notice is delivered to such Qualifying
Purchaser (the “Notice Termination Time”) that such Qualifying Purchaser is willing to participate in the Subsequent
Financing, the amount of such Qualifying Purchaser’s participation, and representing and warranting that such Qualifying
Purchaser has such funds ready, willing, and available for investment on the terms set forth in the Subsequent Financing Notice.
If the Company receives no such notice from a Qualifying Purchaser as of such Notice Termination Time, such Qualifying Purchaser
shall be deemed to have notified the Company that it does not elect to participate in such Subsequent Financing.

 

(d) If,
by the Notice Termination Time, notifications by the Qualifying Purchasers of their willingness to participate in the Subsequent
Financing (or to cause their designees to participate) is, in the aggregate, less than the total amount of the Subsequent Financing,
then the Company may effect the remaining portion of such Subsequent Financing on the terms and with the Persons set forth in the
Subsequent Financing Notice.

 

(e) If,
by the Notice Termination Time, the Company receives responses to a Subsequent Financing Notice from Qualifying Purchasers seeking
to purchase more than the aggregate amount of the Participation Maximum, each such Qualifying Purchaser shall have the right to
purchase its Pro Rata Portion (as defined below) of the Participation Maximum. “Pro Rata Portion” means the
ratio of (x) the Subscription Amount of Securities purchased on the Closing Date by a Qualifying Purchaser participating under
this Section and (y) the sum of the aggregate Subscription Amounts of Securities purchased on the Closing Date by all Qualifying
Purchasers participating under this Section.

 

    -14-

     

    

 

(f) The
Company must provide the Qualifying Purchasers with a second Subsequent Financing Notice, and the Qualifying Purchasers will again
have the right of participation set forth above in this Section, if the definitive agreement related to the initial Subsequent
Financing Notice is not entered into for any reason on the terms set forth in such Subsequent Financing Notice within two (2) Trading
Days after the date of delivery of the initial Subsequent Financing Notice.

 

(g) The
Company and each Qualifying Purchaser agree that, if any Qualifying Purchaser elects to participate in the Subsequent Financing,
the transaction documents related to the Subsequent Financing shall not include any term or provision whereby such Qualifying Purchaser
shall be required to agree to any restrictions on trading as to any of the Securities purchased hereunder or be required to consent
to any amendment to or termination of, or grant any waiver, release or the like under or in connection with, this Subscription
Agreement, without the prior written consent of such Qualifying Purchaser. In addition, the Company and each Qualifying Purchaser
agree that, in connection with a Subsequent Financing, the transaction documents related to the Subsequent Financing shall include
a requirement for the Company to issue a widely disseminated press release by 9:30 am (New York City time) on the Trading Day of
execution of the transaction documents in such Subsequent Financing (or, if the date of execution is not a Trading Day, on the
immediately following Trading Day) that discloses the material terms of the transactions contemplated by the transaction documents
in such Subsequent Financing.

 

(h) Notwithstanding
anything to the contrary in this Section and unless otherwise agreed to by such Qualifying Purchaser, the Company shall either
confirm in writing to such Qualifying Purchaser that the transaction with respect to the Subsequent Financing has been abandoned
or shall publicly disclose its intention to issue the securities in the Subsequent Financing, in either case in such a manner such
that such Qualifying Purchaser will not be in possession of any material, non-public information, by 9:30 am (New York City time)
on the second (2nd) Trading Day following date of delivery of the Subsequent Financing Notice. If by 9:30 am (New York City time)
on such second (2nd) Trading Day, no public disclosure regarding a transaction with respect to the Subsequent Financing has been
made, and no notice regarding the abandonment of such transaction has been received by such Qualifying Purchaser, such transaction
shall be deemed to have been abandoned and such Qualifying Purchaser shall not be deemed to be in possession of any material, non-public
information with respect to the Company or any of its Subsidiaries.

 

(i) Notwithstanding
the foregoing, this Section shall not apply in respect of an Exempt Issuance. For purposes of this Section, “Exempt Issuance”
means the issuance of (a) shares of Common Stock or options to employees, officers, directors or consultants of the Company pursuant
to any stock or option plan duly adopted for such purpose, by a majority of the non-employee members of the Board of Directors
or a majority of the members of a committee of non-employee directors established for such purpose for services rendered to the
Company, (b) securities upon the exercise or exchange of or conversion of any Securities issued hereunder and/or other securities
exercisable or exchangeable for or convertible into shares of Common Stock issued and outstanding on the date of this Subscription
Agreement including for any warrants issued to the Placement Agent, and (c) securities issued pursuant to acquisitions or strategic
transactions approved by a majority of the directors of the Company, which is, itself or through its subsidiaries, an operating
company or an owner of an asset in a business synergistic with the business of the Company and shall provide to the Company additional
benefits in addition to the investment of funds, but shall not include a transaction in which the Company is issuing securities
primarily for the purpose of raising capital or to an entity whose primary business is investing in securities.

 

    -15-

     

    

 

(j) From
the date hereof until no Qualifying Purchaser holds any of the Company’s Securities, and other than with respect to Qualifying
Purchaser, the Company shall be prohibited from effecting or entering into an agreement to effect any issuance by the Company or
any of its Subsidiaries of Common Stock or Common Stock Equivalents (or a combination of units thereof) involving a Variable Rate
Transaction. “Variable Rate Transaction” means a transaction in which the Company (i) issues or sells any debt
or equity securities that are convertible into, exchangeable or exercisable for , or include the right to receive, additional shares
of Common Stock either (A) at a conversion price, exercise price or exchange rate or other price that is based upon, and/or varies
with , the trading prices of or quotations for the shares of Common Stock at any time after the initial issuance of such debt or
equity securities or (B) with a conversion, exercise or exchange price that is subject to being reset at some future date after
the initial issuance of such debt or equity security or upon the occurrence of specified or contingent events directly or indirectly
related to the business of the Company or the market for the Common Stock or (ii) enters into, or effects a transaction under,
any agreement, including, but not limited to, an equity line of credit, whereby the Company may issue securities at a future determined
price. Any Qualifying Purchaser shall be entitled to obtain injunctive relief against the Company to preclude any such issuance,
which remedy shall be in addition to any right to collect damages. This Section shall not apply to an Exempt Issuance.

 

VI REGISTRATION
RIGHTS

 

6.1 Definitions.
As used in this Section, the following terms shall have the following meanings:

 

“Effectiveness
Date” means, with respect to the Initial Registration Statement required to be filed hereunder, as soon as commercially
practicable following the filing of the Initial Registration Statement, and with respect to any additional Registration Statements
which may be required pursuant to Section 5.3(c), as soon as commercially practicable following the date on which an additional
Registration Statement is required to be filed hereunder.

 

“Effectiveness
Period” means the period from the Effectiveness Date of a Registration Statement through the date that all Registrable
Securities covered by such Registration Statement have been sold or may be sold without volume restrictions pursuant to Rule 144,
as determined by the counsel to the Company pursuant to a written opinion letter to such effect, addressed and acceptable to the
Company’s transfer agent and the affected Holders.

 

“Initial
Registration Statement” means the initial Registration Statement filed pursuant to this Subscription Agreement.

 

“Legal
Counsel” means one (1) counsel as designated by a majority of the holders of the Registrable Securities.

 

    -16-

     

    

 

“Prospectus”
means the prospectus included in a Registration Statement (including, without limitation, a prospectus that includes any information
previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A promulgated
by the Commission pursuant to the Securities Act), as amended or supplemented by any prospectus supplement, with respect to the
terms of the offering of any portion of the Registrable Securities covered by a Registration Statement, and all other amendments
and supplements to the Prospectus, including post-effective amendments, and all material incorporated by reference or deemed to
be incorporated by reference in such Prospectus.

 

“Registrable
Securities” means (a) all of the shares of Common Stock issuable upon exchange of the Preferred Stock and Series A Preferred
Stock issuable in the Concurrent Offering, (b) any shares of Common Stock issuable upon exercise of any warrants issued to the
Placement Agent (assuming on the date of determination the warrants are exercised in full without regard to any exercise limitations
therein) and (c) any securities issued or issuable upon any stock split, dividend or other distribution, recapitalization or similar
event with respect to the foregoing; provided, however, that the Company shall not be required to maintain the effectiveness,
or file another Registration Statement hereunder with respect to any Registrable Securities that are (i) not subject to the current
public information requirement under Rule 144 and that are eligible for resale without volume or manner-of-sale restrictions without
current public information pursuant to Rule 144 promulgated by the Commission or (ii) not required to be registered in reliance
upon the exemption in Section 4(1) under the Securities Act, in either case pursuant to a written opinion letter to such effect,
addressed, delivered and acceptable to the affected Subscribers.

 

“Registration
Statement” means any registration statement required to be filed hereunder pursuant to Section 5.2(a) and any additional
registration statements contemplated by Section 5.3(c), including (in each case) the Prospectus, amendments and supplements to
any such registration statement or Prospectus, including pre- and post-effective amendments, all exhibits thereto, and all material
incorporated by reference or deemed to be incorporated by reference in any such registration statement.

 

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

 

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

 

“SEC Guidance”
means (i) any publicly-available written or oral guidance, comments, requirements or requests of the Commission staff and (ii)
the Securities Act.

 

    -17-

     

    

 

6.2 Demand
Registration.

 

(a) Beginning
on the six month anniversary of the Final Closing, on or prior to the sixtieth (60th) calendar day after the date of receipt of
written demand from Subscribers holding at least 51% of Registrable Securities, the Company shall prepare and file with the Commission
a Registration Statement covering the resale of all of the Registrable Securities that are not then registered on an effective
Registration Statement for an offering to be made on a continuous basis pursuant to Rule 415. Subject to the terms of this Subscription
Agreement, the Company shall use its best efforts to cause a Registration Statement filed under this Subscription Agreement to
be declared effective under the Securities Act as promptly as possible after the filing thereof, but in any event no later than
the applicable Effectiveness Date, and shall use its best efforts to keep such Registration Statement continuously effective during
the Effectiveness Period.

 

(b) Notwithstanding
the registration obligations set forth in Section 6.2(a), if the Commission informs the Company that all of the Registrable Securities
cannot, as a result of the application of Rule 415, be registered for resale as a secondary offering on a single registration statement,
the Company agrees to promptly inform each of the Holders thereof and use its commercially reasonable efforts to file amendments
to the Initial Registration Statement as required by the Commission, covering the maximum number of Registrable Securities permitted
to be registered by the Commission, provided, however, that, prior to filing such amendment, the Company shall be
obligated to use diligent efforts to advocate with the Commission for the registration of all of the Registrable Securities in
accordance with the SEC Guidance, including without limitation, Compliance and Disclosure Interpretation 612.09.

 

(c) Notwithstanding
any other provision of this Subscription Agreement, if the Commission or any SEC Guidance sets forth a limitation on the number
of Registrable Securities permitted to be registered on a particular Registration Statement as a secondary offering (and notwithstanding
that the Company used diligent efforts to advocate with the Commission for the registration of all or a greater portion of Registrable
Securities), unless otherwise directed in writing by a Holder as to its Registrable Securities, the number of Registrable Securities
to be registered on such Registration Statement will be reduced as follows: First, the Company shall reduce or eliminate any securities
to be included other than Registrable Securities; and Second, the Company shall reduce or eliminate any securities issued to the
Placement Agent.

 

(d) In
the event the Company amends the Initial Registration Statement in accordance with the foregoing, the Company will use its best
efforts to file with the Commission, as promptly as allowed by Commission or SEC Guidance provided to the Company or to registrants
of securities in general, one or more registration statements on Form S-1 or such other form available to register for resale those
Registrable Securities that were not registered for resale on the Initial Registration Statement, as amended. Notwithstanding anything
to the contrary contained herein, in no event shall the Company be permitted to name any Holder or affiliate of a Holder as any
Underwriter without the prior written consent of such Holder.

 

    -18-

     

    

 

6.3 Piggy
Back Registration.

 

(a) At
any time the Registrable Securities are owned by a Subscriber and there is not an effective registration statement covering all
of the Registrable Securities, and if the Company shall determine to prepare and file with the SEC a registration statement relating
to an offering for its own account or the account of others under the Act, of any of its equity securities, other than on Form
S-4 or Form S-8 (each as promulgated under the Act) or their then equivalents, relating to equity securities to be issued solely
in connection with any acquisition of any entity or business or equity securities issuable in connection with the Company’s
stock option or other employee benefit plans, then the Company shall deliver to each Subscriber a written notice of such determination
and, if within fifteen (15) days after the date of the delivery of such notice, any such Subscriber shall so request in writing,
the Company shall include in such registration statement all or any part of such Registrable Securities such Subscriber requests
to be registered; provided, however, that Registrable Securities will not be included if the underwriter(s) associated with the
offering which is the subject of the registration statement believes, in good faith, that the inclusion of such Registrable Securities
will have an adverse effect on the sale of the securities for which such registration statement was filed, and further provided,
however, that the Company shall not be required to register any Registrable Securities pursuant to this Section 6.2
that are eligible for resale pursuant to Rule 144 promulgated by the SEC pursuant to the Act or that are the subject of a then
effective registration statement. If any SEC Guidance sets forth a limitation on the number of securities permitted to be registered
on a particular registration statement (and notwithstanding that the Company used diligent efforts to advocate with the SEC for
the registration of all or a greater portion of Registrable Securities), unless otherwise directed in writing by a Subscriber as
to its Registrable Securities, the number of Registrable Securities to be registered on such registration statement will be reduced
on a pro rata basis with such other securities being registered on the applicable registration after as full an allocation
as possible has been afforded for the securities for which the registration statement has been filed.

 

(b) Reserved.

 

(c) Subject
to the terms and conditions of this Subscription Agreement, Subscribers shall have the right to select Legal Counsel to review
and oversee, solely on its behalf, any Registration Statement pursuant to this Subscription Agreement, if such Registration Statement
is filed. The Company shall also reimburse Legal Counsel for its documented fees and disbursements in connection with registration,
filing or qualification pursuant to this Subscription Agreement which amount shall be limited to $5,000.

 

6.4 Registration
Procedures. In connection with the Company’s registration obligations hereunder, the Company shall:

 

(a) Not
less than five (5) Trading days prior to the filing of each Registration Statement and not less than one (1) Trading day prior
to the filing of any related Prospectus or any amendment or supplement thereto (including any document that would be incorporated
or deemed to be incorporated therein by reference), the Company shall (i) furnish to Legal Counsel copies of the Registration Statement
proposed to be filed, which documents (other than those incorporated or deemed to be incorporated by reference) will be subject
to the review of Legal Counsel; and (ii) cause its officers and directors, counsel and independent registered public accountants
to respond to such inquiries as shall be necessary, in the reasonable opinion of Legal Counsel, to conduct a reasonable investigation
within the meaning of the Securities Act. The Company shall not file a Registration Statement or any such Prospectus or any amendments
or supplements thereto to which the Subscribers of a majority of the Registrable Securities or Legal Counsel shall reasonably object
in good faith, provided that, the Company is notified of such objection in writing no later than three (3) Trading days after Legal
Counsel has been so furnished a copy of a Registration Statement or one (1) Trading day after Legal Counsel has been so furnished
copies of any related Prospectus or amendments or supplements thereto. Each Subscriber agrees to furnish to the Company a completed
questionnaire to be supplementally provided (a “Selling Stockholder Questionnaire”) on a date that is not less
than two (2) Trading days prior to the Filing Date or by the end of the fourth (4th) Trading day following the date
on which such Subscriber receives draft materials in accordance with this Section.

 

    -19-

     

    

 

(b) (i)
Prepare and file with the Commission such amendments, including post-effective amendments, to a Registration Statement and the
Prospectus used in connection therewith as may be necessary to keep a Registration Statement continuously effective as to the applicable
Registrable Securities for the Effectiveness Period and prepare and file with the Commission such additional Registration Statements
in order to register for resale under the Securities Act all of the Registrable Securities, (ii) cause the related Prospectus to
be amended or supplemented by any required Prospectus supplement (subject to the terms of this Subscription Agreement), and, as
so supplemented or amended, to be filed pursuant to Rule 424, (iii) respond as promptly as reasonably possible to any comments
received from the Commission with respect to a Registration Statement or any amendment thereto and provide as promptly as reasonably
possible to the Subscriber’s true and complete copies of all correspondence from and to the Commission relating to a Registration
Statement (provided that, the Company may excise any information contained therein which would constitute material non-public information
as to any Subscriber which has not executed a confidentiality agreement with the Company), and (iv) comply in all material respects
with the provisions of the Securities Act and the Exchange Act with respect to the disposition of all Registrable Securities covered
by a Registration Statement during the applicable period in accordance (subject to the terms of this Subscription Agreement) with
the intended methods of disposition by the Subscribers thereof set forth in such Registration Statement as so amended or in such
Prospectus as so supplemented.

 

(c) Notify
the Subscribers of Registrable Securities to be sold (which notice shall, pursuant to clauses (iii) through (vi) hereof, be accompanied
by an instruction to suspend the use of the Prospectus until the requisite changes have been made) as promptly as reasonably possible
(and, in the case of (i)(A) below, not less than one trading day prior to such filing) and (if requested by any such Person) confirm
such notice in writing no later than one Trading day following the day (i)(A) when a Prospectus or any Prospectus supplement or
post-effective amendment to a Registration Statement is proposed to be filed, (B) when the Commission notifies the Company whether
there will be a “review” of such Registration Statement and whenever the Commission comments in writing on such Registration
Statement, and (C) with respect to a Registration Statement or any post-effective amendment, when the same has become effective,
(ii) of any request by the Commission or any other federal or state governmental authority for amendments or supplements to a Registration
Statement or Prospectus or for additional information, (iii) of the issuance by the Commission or any other federal or state governmental
authority of any stop order suspending the effectiveness of a Registration Statement covering any or all of the Registrable Securities
or the initiation of any Proceedings for that purpose; (iv) of the receipt by the Company of any notification with respect to the
suspension of the qualification or exemption from qualification of any of the Registrable Securities for sale in any jurisdiction,
or the initiation or threatening of any Proceeding for such purpose, (v) of the occurrence of any event or passage of time that
makes the financial statements included in a Registration Statement ineligible for inclusion therein or any statement made in a
Registration Statement or Prospectus or any document incorporated or deemed to be incorporated therein by reference untrue in any
material respect or that requires any revisions to a Registration Statement, Prospectus or other documents so that, in the case
of a Registration Statement or the Prospectus, as the case may be, it will not contain any untrue statement of a material fact
or omit to state any material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances
under which they were made, not misleading and (vi) of the occurrence or existence of any pending corporate development with respect
to the Company that the Company believes may be material and that, in the determination of the Company, makes it not in the best
interest of the Company to allow continued availability of a Registration Statement or Prospectus, provided that, any and all of
such information shall remain confidential to each Subscriber until such information otherwise becomes public, unless disclosure
by a Subscriber is required by law.

 

    -20-

     

    

 

(d) Use
its commercially reasonable efforts to avoid the issuance of, or, if issued, obtain the withdrawal of (i) any order stopping or
suspending the effectiveness of a Registration Statement, or (ii) any suspension of the qualification (or exemption from qualification)
of any of the Registrable Securities for sale in any jurisdiction, at the earliest practicable moment.

 

(e) Furnish
to Legal Counsel, without charge, at least one conformed copy of each such Registration Statement and each amendment thereto, including
financial statements and schedules, all documents incorporated or deemed to be incorporated therein by reference to the extent
requested by such person, and all exhibits to the extent requested by such Person (including those previously furnished or incorporated
by reference) promptly after the filing of such documents with the Commission; provided, that any such item which is available
on the EDGAR system need not be furnished in physical form. Subject to the terms of this Subscription Agreement, the Company hereby
consents to the use of such Prospectus and each amendment or supplement thereto by each of the selling Subscribers in connection
with the offering and sale of the Registrable Securities covered by such Prospectus and any amendment or supplement thereto, except
after the giving of any notice pursuant to Section 3(c).

 

(f) The
Company, in conjunction with a Placement Agent, shall effect a filing with respect to the public offering contemplated by the Registration
Statement (an “Issuer Filing”) with the Financial Industry Regulatory Authority, Inc. (“FINRA”)
Corporate Financing Department pursuant to FINRA Rule 5110 within one Trading Day of the date that the Registration Statement is
first filed with the Commission and pay the filing fee required by such Issuer Filing. The Company, in conjunction with a Placement
Agent, shall use commercially reasonable efforts to pursue the Issuer Filing until the FINRA issues a letter confirming that it
does not object to the terms of the offering contemplated by the Registration Statement. A copy of the Issuer Filing and all related
correspondence with respect thereto shall be provided to a Placement Agent.

 

    -21-

     

    

 

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

 

(h) If
requested by a Subscriber, cooperate with such Subscribers to facilitate the timely preparation and delivery of certificates representing
Registrable Securities to be delivered to a transferee pursuant to an effective Registration Statement, which certificates shall
be free, to the extent permitted by the Subscription Agreement, of all restrictive legends, and to enable such Registrable Securities
to be in such denominations and registered in such names as any such Subscriber may request.

 

(i) The
Company will, as promptly as reasonably possible under the circumstances taking into account the Company’s good faith assessment
of any adverse consequences to the Company and its stockholders of the premature disclosure of such event, prepare a supplement
or amendment, including a post-effective amendment, to a Registration Statement or a supplement to the related Prospectus or any
document incorporated or deemed to be incorporated therein by reference, and file any other required document so that, as thereafter
delivered, neither a Registration Statement nor such Prospectus will contain an untrue statement of a material fact or omit to
state a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances
under which they were made, not misleading. If the Company notifies the Subscribers in accordance with clauses (iii) through (vi)
of Section 6.3(c) above to suspend the use of any Prospectus until the requisite changes to such Prospectus have been made, then
the Subscribers shall suspend use of such Prospectus. The Company will use its best efforts to ensure that the use of the Prospectus
may be resumed as promptly as is practicable.

 

(j) Comply
with all applicable rules and regulations of the Commission

 

(k) The
Company may require each selling Subscriber to furnish to the Company a certified statement as to the number of shares of Common
Stock beneficially owned by such Subscriber and, if required by the Commission, the natural persons thereof that have voting and
dispositive control over the shares. During any periods that the Company is unable to meet its obligations hereunder with respect
to the registration of the Registrable Securities solely because any Subscriber fails to furnish such information within three
Trading days of the Company’s request, any liquidated damages that are accruing at such time as to such Subscriber only shall
be tolled and any Event that may otherwise occur solely because of such delay shall be suspended as to such Subscriber only, until
such information is delivered to the Company.

 

    -22-

     

    

 

6.5. Registration
Expenses. All fees and expenses incident to the performance of or compliance with Section by the Company shall be borne by
the Company whether or not any Registrable Securities are sold pursuant to a Registration Statement. In no event shall the Company
be responsible for any broker or similar commissions of any Subscriber or, except to the extent provided for in the Offering Materials,
any legal fees (except per section 6.3(c)) or other costs of the Subscribers.

 

VII. MISCELLANEOUS

 

7.1 Any
notice or other communication given hereunder shall be deemed sufficient if in writing and sent by registered or certified mail,
return receipt requested, or delivered by hand against written receipt therefor, addressed as follows:

 

if to the Company, to it at:

 

Avant Diagnostics,
Inc.

1050 30th
Street NW Suite 107

Washington, D.C. 20007

Attn: Secretary

 

With a copy to (which shall not constitute
notice):

 

Sheppard, Mullin, Richter & Hampton LLP

30 Rockefeller Plaza, 39th
Floor

New York, NY 10112

Attn: Stephen A. Cohen, Esq.

 

if to the Subscriber, to the Subscriber’s address
indicated on the signature page of this Subscription Agreement.

 

7.2 Notices
shall be deemed to have been given or delivered on the date of receipt. Except as otherwise provided herein, this Subscription
Agreement shall not be changed, modified or amended except by a writing signed by the parties to be charged, and this Subscription
Agreement may not be discharged except by performance in accordance with its terms or by a writing signed by the party to be charged.
No waiver of any default with respect to any provision, condition or requirement of this Subscription Agreement shall be deemed
to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition or
requirement hereof, nor shall any delay or omission of any party to exercise any right hereunder in any manner impair the exercise
of any such right.

 

    -23-

     

    

 

7.3 This
Subscription Agreement shall be binding upon and inure to the benefit of the parties hereto and to their respective heirs, legal
representatives, successors and assigns. The Company may not assign this Subscription Agreement or any rights or obligations hereunder
without the prior written consent of Subscriber (other than by merger). Subscriber may assign any or all of its rights under this
Subscription Agreement to any person to whom Subscriber assigns or transfers any Securities, provided that such transferee agrees
in writing to be bound, with respect to the transferred Securities, by the provisions of the Offering Materials and this Subscription
Agreement.

 

7.4 The
Offering Materials, together with the exhibits and schedules thereto, contain the entire understanding of the parties with respect
to the subject matter hereof and supersede all prior agreements and understandings, oral or written, with respect to such matters,
which the parties acknowledge have been merged into such documents, exhibits and schedules.

 

7.5 Upon
the execution and delivery of this Subscription Agreement by the Subscriber and the Company, this Subscription Agreement shall
become a binding obligation of the Subscriber with respect to the purchase of Securities as herein provided, subject, however,
to the right hereby reserved by the Company to enter into the same agreements with other Subscriber and to reject any subscription,
in whole or in part, provided the Company returns to Subscriber any funds paid by Subscriber with respect to such rejected subscription
or portion thereof, without interest or deduction.

 

7.6 All
questions concerning the construction, validity, enforcement and interpretation of the Offering Materials shall be governed by
and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflicts
of law thereof. Each party agrees that all legal proceedings concerning the interpretations, enforcement and defense of the transactions
contemplated by this Subscription Agreement and any other Offering Materials (whether brought against a party hereto or its respective
affiliates, directors, officers, shareholders, employees or agents) shall be commenced exclusively in the state and federal courts
sitting in the City of New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts
sitting in the City of New York, borough of Manhattan for the adjudication of any dispute hereunder or in connection herewith or
with any transaction contemplated hereby or discussed herein (including with respect to the enforcement of any of the Offering
Materials), and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not
personally subject to the jurisdiction of any such court, that such suit, action or proceeding is improper or is an inconvenient
venue for such proceeding.

 

7.7 In
order to discourage frivolous claims the parties agree that unless a claimant in any proceeding arising out of this Subscription
Agreement succeeds in establishing his claim and recovering a judgment against another party (regardless of whether such claimant
succeeds against one of the other parties to the action), then the other party shall be entitled to recover from such claimant
all of its/their reasonable legal costs and expenses relating to such proceeding and/or incurred in preparation therefor.

 

7.8 The
holding of any provision of this Subscription Agreement to be invalid or unenforceable by a court of competent jurisdiction shall
not affect any other provision of this Subscription Agreement, which shall remain in full force and effect. If any provision of
this Agreement shall be declared by a court of competent jurisdiction to be invalid, illegal or incapable of being enforced in
whole or in part, such provision shall be interpreted so as to remain enforceable to the maximum extent permissible consistent
with applicable law and the remaining conditions and provisions or portions thereof shall nevertheless remain in full force and
effect and enforceable to the extent they are valid, legal and enforceable, and no provisions shall be deemed dependent upon any
other covenant or provision unless so expressed herein.

 

    -24-

     

    

 

7.9 The
representations, warranties, covenants and agreements contained in this Agreement, shall survive the Closing of the transactions
contemplated by this Subscription Agreement and the delivery of the Securities for the applicable statute of limitations.

 

7.10 It
is agreed that a waiver by either party of a breach of any provision of this Subscription Agreement shall not operate, or be construed,
as a waiver of any subsequent breach by that same party.

 

7.11 The
Company agrees to execute and deliver all such further documents, agreements and instruments and take such other and further action
as may be necessary or appropriate to carry out the purposes and intent of this Subscription Agreement.

 

7.12 This
Subscription Agreement may be executed in two or more counterparts each of which shall be deemed an original, but all of which
shall together constitute one and the same instrument. In the event that any signature is delivered by facsimile transmission or
by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and binding obligation of the
party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf”
signature page were an original thereof.

 

7.13 Nothing
in this Subscription Agreement shall create or be deemed to create any rights in any person or entity not a party to this Subscription
Agreement.

 

7.14 In
addition to being entitled to exercise all rights provided herein or granted by law, including recovery of damages, the Subscriber
and the Company will be entitled to specific performance under this Subscription Agreement. The parties agree that monetary damages
may not be adequate compensation for any loss incurred by reason of any breach of obligations described in this Subscription Agreement
and hereby agrees to waive in any action for specific performance of any such obligation the defense that a remedy at law would
be adequate.

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

    -25-

     

    

 

DOLLAR SUBSCRIPTION________ /$1.00 = ________ NUMBER
OF SHARES OF PREFERRED STOCK

 

	 	 	 
	Signature	 	Signature (if purchasing jointly)
	 	 	 
	 	 	 
	Name Typed or Printed	 	Name Typed or Printed
	 	 	 
	 	 	 
	Title (if Subscriber is an Entity)	 	Title (if Subscriber is an Entity)
	 	 	 
	 	 	 
	Entity Name (if applicable)	 	Entity Name (if applicable
	 	 	 
	 	 	 
	 	 	 
	Address	 	Address
	 	 	 
	 	 	 
	City, State and Zip Code	 	City, State and Zip Code
	 	 	 
	 	 	 
	Telephone-Business	 	Telephone-Business
	 	 	 
	 	 	 
	Telephone-Residence	 	Telephone-Residence
	 	 	 
	 	 	 
	Facsimile-Business	 	Facsimile-Business
	 	 	 
	 	 	 
	Facsimile-Residence	 	Facsimile-Residence
	 	 	 
	 	 	 
	Tax ID # or Social Security #	 	Tax ID # or Social Security #
	 	 	 
	 	 	 
	E-Mail Address	 	E-Mail Address

 

Name
in which securities should be issued: _______________________________

 

Dated: __________, 2018

 

This Subscription Agreement is agreed to
and accepted as of __________, 2018.

 

	 	AVANT DIAGNOSTICS, INC.
	 	 	 
	 	By:	                 
	 	Name:	 
	 	Title:	 

 

    -26-

     

    

 

CERTIFICATE OF SIGNATORY

 

(To be completed if
Securities are being subscribed for by an entity)

 

I, _______________________________________, am the_________________________________
of ________________________(the “Entity”).

 

I certify that I am empowered
and duly authorized by the Entity to execute and carry out the terms of the Subscription Agreement and to purchase and hold the
Securities (and, upon issuance, the Underlying Shares), and certify further that the Subscription Agreement has been duly and validly
executed on behalf of the Entity and constitutes a legal and binding obligation of the Entity.

 

IN WITNESS WHEREOF, I have set
my hand this ___________ day of __________, 20__

 

	 	 
	 	(Signature)

 

    -27-

     

    

 

Exhibit
A

 

INVESTOR QUESTIONNAIRE

AVANT DIAGNOSTICS, INC.

 

For Individual Investors Only

(All individual investors must INITIAL
where appropriate. 

Where there are joint investorsboth parties
must INITIAL):

 

		Initial _______	I certify that I have a “net worth” of at least
$1 million either individually or through aggregating my individual holdings and those in which I have a joint, community property
or other similar shared ownership interest with my spouse. For purposes of calculating net worth under this paragraph, (i) the
primary residence shall not be included as an asset, (ii) to the extent that the indebtedness that is secured by the primary residence
is in excess of the fair market value of the primary residence, the excess amount shall be included as a liability, and (iii)
if the amount of outstanding indebtedness that is secured by the primary residence exceeds the amount outstanding 60 days prior
to the execution of this Subscription Agreement, other than as a result of the acquisition of the primary residence, the amount
of such excess shall be included as a liability.

 

		Initial _______	I certify that I have had an annual gross income for the
past two years of at least $200,000 (or $300,000 jointly with my spouse) and expect my income (or joint income, as appropriate)
to reach the same level in the current year.

 

For Non-Individual
Investors

(all Non-Individual
Investors must INITIAL where appropriate):

 

		Initial _______	The undersigned certifies that it is a partnership, corporation,
limited liability company or business trust that is 100% owned by persons who meet either of the criteria for Individual Investors,
above.

 

		Initial _______	The undersigned certifies that it is a partnership, corporation,
limited liability company or business trust that has total assets of at least $5 million and was not formed for the purpose of
investing in Company.

 

		Initial _______	The undersigned certifies that it is an employee benefit
plan whose investment decision is made by a plan fiduciary (as defined in ERISA §3(21)) that is a bank, savings and loan
association, insurance company or registered investment adviser.

 

		Initial _______	The undersigned certifies that it is an employee benefit
plan whose total assets exceed $5,000,000 as of the date of the Subscription Agreement.

 

		Initial _______	The undersigned certifies that it is a self-directed employee
benefit plan whose investment decisions are made solely by persons who meet either of the criteria for Individual Investors, above.

    A-1

     

    

 

		Initial _______	The undersigned certifies that it is a U.S. bank, U.S.
savings and loan association or other similar U.S. institution acting in its individual or fiduciary capacity.

 

		Initial _______	The undersigned certifies that it is a broker-dealer registered
pursuant to §15 of the Securities Exchange Act of 1934.

 

		Initial _______	The undersigned certifies that it is an organization described
in §501(c)(3) of the Internal Revenue Code with total assets exceeding $5,000,000 and not formed for the specific purpose
of investing in Company.

 

		Initial _______	The undersigned certifies that it is a trust with total
assets of at least $5,000,000, not formed for the specific purpose of investing in Company, and whose purchase is directed by
a person with such knowledge and experience in financial and business matters that he is capable of evaluating the merits and
risks of the prospective investment.

 

		Initial _______	The undersigned certifies that it is a plan established
and maintained by a state or its political subdivisions, or any agency or instrumentality thereof, for the benefit of its employees,
and which has total assets in excess of $5,000,000.

 

		Initial _______	The undersigned certifies that it is an insurance company
as defined in §2(a)(13) of the Securities Act of 1933, as amended, or a registered investment company.

 

 

 

Printed
Name of Subscriber (Individual OR Non-Individual Entity)

 

    A-2EX-10.1

 Exhibit 10.1 

EMPLOYMENT AGREEMENT 

THIS EMPLOYMENT AGREEMENT (this “Agreement”) is made and entered into by and between MEDNAX SERVICES, INC., a Florida
corporation (“Employer”), and STEPHEN FARBER (“Employee”) on August 22, 2018 and shall be effective as the Effective Date. 

RECITALS 

WHEREAS, Employer is presently engaged in “Employer’s Business” as defined on Exhibit A hereto; and 

WHEREAS, Employer desires to employ Employee and benefit from Employee’s contributions to Employer; and 

WHEREAS, in order to induce Employer to enter into this Agreement on the terms and conditions set forth herein, and disclose its trade
secrets and confidential information in connection with Employee’s employment by Employer and award from time to time equity based compensation, Employee hereby agrees to be bound by the terms of this Agreement, including the arbitration, non-competition and related restrictive covenants set forth herein. 
 NOW, THEREFORE, in
consideration of the premises and mutual covenants set forth herein, the parties agree as follows: 
  

	 	1.	 Employment. 

1.1.    Employment and Term. Employer hereby agrees to employ Employee and Employee hereby agrees to serve Employer
on the terms and conditions set forth herein for an “Initial Term” commencing August 27, 2018 (the “Effective Date”) and continuing for a period of three (3) years, unless sooner terminated as hereinafter set
forth. Thereafter, the employment of Employee hereunder shall automatically renew for successive one (1) year periods until terminated in accordance herewith. The Initial Term and any automatic renewals shall be referred to as the
“Employment Period.” 
 1.2.    Duties of Employee. During the Employment Period, Employee shall serve
as Executive Vice President and Chief Financial Officer of Employer and MEDNAX, Inc., a Florida corporation and parent corporation of Employer (“Mednax”), and perform such duties as are customary to the position Employee holds or as may be
assigned to Employee from time to time by Mednax’s most senior executive officer (“Employee’s Supervisor”) or the Board (as defined below), including, but not limited to, also serving as an officer and/or director, or equivalent,
of subsidiaries and/or affiliates of Mednax; provided, that such duties as assigned shall be customary to Employee’s role as an executive officer of Employer and Mednax. Employee shall initially start as Executive Vice President and then
assume the Chief Financial Officer role beginning on or about November 15, 2018. Employee’s employment shall be full-time and, as such, Employee agrees to devote substantially all of Employee’s attention and professional time to the
business and affairs of Employer and Mednax. Employee shall perform Employee’s duties honestly, diligently, competently, in good faith and in the best interest of Employer and Mednax. Employee will devote best efforts to the promotion of the
goodwill of Employer and Mednax and of their employees and affiliates. During the Employment Period, Employer shall promote the proficiency of Employee by, among other things, providing Employee with Confidential Information, specialized
professional development programs, and information regarding the organization, administration and operation of Employer. During the Employment Period, Employee agrees that Employee will not, without the prior written consent of Employer (which
consent shall not be unreasonably withheld), serve as a director on a corporate board of directors or in any other similar capacity for any institution other than Employer. Employer agrees that Employee’s serving on the board of directors of
the entity disclosed to Employer on or prior to the Effective Date has been consented to by Employer and such service shall not constitute Employee’s breach of this Agreement. During the Employment Period, it shall not be a violation of this
Agreement to (i) serve on civic or charitable boards or committees, or (ii) deliver lectures, fulfill speaking engagements or teach at educational institutions, so long as such activities have been approved by Employer’s General
Counsel and do not interfere with the performance of Employee’s responsibilities as an employee of Employer in accordance with this Agreement, including the restrictions of Section 8 hereof. 

 1.3.    Place of Performance. Employee shall be based at
Employer’s offices located in Sunrise, Florida, except for required travel relating to Employer’s Business, provided, however, that Employer and Employee acknowledge and agree that Employee currently resides outside of Florida and
will be relocating to Florida as soon as reasonably practical after the Effective Date and that prior to such time Employee may provide services remotely on a periodic basis, which shall not constitute Employee’s breach of this Agreement. 

 

	 	2.	 Base Salary and Performance Bonus. 

2.1.    Base Salary. Employee shall be paid an annual base salary as determined by the Compensation Committee
(“Compensation Committee”) of the MEDNAX Board of Directors (the “Board”) from time to time (the “Base Salary”), payable in installments consistent with Employer’s customary payroll schedule and subject to
applicable withholding for taxes and other Employee directed withholdings. Employee’s initial Base Salary will be set forth on Exhibit B hereto. The Compensation Committee shall review the amount of Employee’s Base Salary on an annual
basis no later than ninety (90) days after the beginning of Employer’s fiscal year. Any change to Employee’s Base Salary that is approved by the Compensation Committee shall become Employee’s new Base Salary for purposes of this
Agreement. 
 2.2.    Performance Bonus. Employee shall be eligible for an annual bonus in accordance with the
incentive programs approved from time to time by the Compensation Committee, which programs shall contemplate a target bonus payment of at least the amount set forth on Exhibit B (the “Performance Bonus”) based upon the fulfillment of
reasonable performance objectives set by the Compensation Committee.    Except in the situations described in Sections 5.2, 5.3, 5.4, 5.5 and 5.7, the Performance Bonus shall only be payable to Employee if Employee is employed
with Employer as of the date that the Performance Bonus is paid by Employer. Each Performance Bonus shall be paid in the calendar year immediately following the calendar year in which it is earned, as soon as practicable after the audited financial
statements for Employer for the year for which the bonus is earned have been released; provided, however, that if calculation of Employee’s Performance Bonus is not administratively practicable due to events beyond the control of Employer, then
Employer may delay payment of the Performance Bonus provided that the payment is made during the first taxable year of Employee in which the calculation of the amount of the payment is administratively practicable. 

  
 2 

 2.3    Sign-On Bonus.
Within thirty (30) days of the Effective Date, Employer shall pay Employee a sign-on bonus of $300,000 (the “Sign-On Bonus”), subject to applicable
withholding for taxes and other Employee directed withholdings. If, prior to the one-year anniversary of the Effective Date, Employee terminates his employment other than for Good Reason or other than due to
his death or Disability, Employee shall reimburse Employer the full amount of the Sign-On Bonus. In Employer’s discretion, Employer may off-set all or part of
Employee’s obligation to reimburse the Sign-On Bonus against amounts otherwise due to Employee from Employer. 
  

	 	3.	 Benefits. 

3.1.    Expense Reimbursement. Employer shall promptly reimburse Employee for all out-of-pocket expenses reasonably incurred by Employee during the Employment Period on behalf of or in connection with Employer’s Business pursuant to the reimbursement standards and guidelines of
Employer in effect from time to time, including reimbursement for appropriate professional organizations. Employee shall account for such expenses and submit reasonable supporting documentation to Employer in accordance with Employer’s policies
in effect from time to time. 
 3.2    Employee Benefits. During the Employment Period, Employee shall be
entitled to participate in such health, welfare, disability, retirement savings and other fringe benefit plans and programs (subject to the terms and conditions of such plans and programs) as may be provided from time to time to employees of
Employer and to the extent that such plans and programs are applicable to other similarly situated employees of Employer. 

3.3.    Leave Time. During the Employment Period, Employee shall be entitled to paid vacation and leave days each
calendar year in accordance with the leave policies established by Employer from time to time, but in no event less than thirty-eight (38) days per year. Any leave time not used during each fiscal year of Employer may be carried over into the
next year to the extent permitted by Employer policy. 
 3.4    Equity Plans.  

(a)    Recruitment Grant. On the Effective Date, Employee shall be granted 100,000 restricted shares of Mednax,
Inc. common stock (the “Restricted Shares”) pursuant to the Mednax, Inc. Amended and Restated 2008 Incentive Compensation Plan, as amended (the “2008 Plan”), which Restricted Shares will vest as to 50% of such Restricted Shares
on September 1, 2019, 30% of such Restricted Shares on September 1, 2020, and 20% of such Restricted Shares on September 1, 2021, subject to Employee’s continued service on each such anniversary in accordance with the terms of
the 2008 Plan and the award agreement approved by the Compensation Committee thereunder, except as otherwise provided in this Agreement. 

  
 3 

 (b)    Annual Grant. During the Employment Period, the Chief
Executive Officer of Mednax shall recommend to the Compensation Committee that Employee receive, on an annual basis following the Effective Date, and at the same time as other executive officers of Employer, grants of stock options, stock
appreciation rights, restricted stock, deferred stock, bonus stock, awards payable in stock or other forms of stock based award (each an “Equity Award”) pursuant to the 2008 Plan, or any other similar plan adopted by Mednax (each an
“Equity Plan”), with a guideline grant value that will be at least the amount set forth on Exhibit B, with the actual grant value determined by the Compensation Committee in the same manner as for other executive officers of Employer.
Every Equity Award made to Employee shall be subject to the terms and conditions of this Agreement, the terms of the applicable Equity Plan, and shall be made subject to an award agreement that is consistent with terms applicable to other executive
officers of Employer. Employee shall also be eligible to participate in Mednax’s non-qualified employee stock purchase plan and any successor plan. Employee acknowledges Employee’s participation in
the Equity Plan pursuant to this Section 3 is sufficient consideration for Employee to enter into this Agreement, including the restrictive covenants set forth in Section 8 below.  

3.5    Relocation. Employer shall, within thirty (30) days of the Effective Date, make a cash payment to
Employee of $300,000 to offset the costs and fees associated with Employee’s relocation to Florida, subject to applicable withholding for taxes and other Employee directed withholdings. 

3.6    Legal Fees. Employer shall reimburse Employee for the reasonable, documented legal fees and expenses
incurred by Employee in connection with the review and negotiation of this Agreement prior to entering into this Agreement, which fees and expenses shall be treated as tax-free business expenses reimbursement.
All reimbursements described in this paragraph shall be made promptly after demand is made by Employee and Employee’s provision to Employer of reasonably satisfactory evidence of such fees and expenses, but no later than the last day of
calendar year in which Employee incurs such fees and expenses. 
  

	 	4.	 Termination. 

4.1.    Termination for Cause. Employer may terminate Employee’s employment under this Agreement for Cause. As
used in this Agreement, the term “Cause” shall mean the occurrence of any of (i) Employee’s engagement in (A) willful misconduct resulting in material harm to Mednax or Employer, or (B) gross negligence;
(ii) Employee’s conviction of, or pleading nolo contendere to, a felony or any other crime involving fraud, financial misconduct, or misappropriation of Employer’s assets; (iii) Employee’s willful and continual failure,
after written notice from Employee’s Supervisor or the Board to (A) perform substantially his employment duties consistent with his position and authority, or (B) follow, consistent with Employee’s position, duties, and
authorities, the reasonable lawful mandates of Employee’s Supervisor or the Board; (iv) Employee’s failure or refusal to comply with a reasonable policy, standard or regulation of Employer in any material respect, including but not
limited to Employer’s sexual harassment, other unlawful harassment, workplace discrimination or substance abuse policies; or (v) Employee’s breach of Section 8.4 of this Agreement. No act or omission shall be deemed willful or
grossly negligent for purposes of this definition if taken or omitted to be taken by Employee in a good faith belief that such act or omission to act was in the best interests of Employer or Mednax or if done at the express direction of the Board of
Directors of Mednax. The termination date for a termination of Employee’s employment under this Agreement pursuant to this Section 4.1 shall be the date specified by Employer in a written notice to Employee of finding of Cause, which may
not be retroactive. Upon termination of Employee’s employment under this Agreement pursuant to Section 4.1, Employee shall be entitled to compensation in accordance with and subject to, the provisions of Section 5.1 hereof. 

  
 4 

 4.2.    Disability. Employer may terminate Employee’s
employment under this Agreement upon the Disability (as defined below) of Employee. Subject to the requirements of applicable law, Employee shall be deemed to have a “Disability” for purposes of this Agreement in the event of
(i) Employee’s inability to perform Employee’s duties hereunder, with or without a reasonable accommodation, as a result of physical or mental illness or injury, and (ii) a determination by an independent qualified physician
selected by Employer and acceptable to Employee (which acceptance shall not be unreasonably withheld) that Employee is currently unable to perform such duties and in all reasonable likelihood such inability will continue for a period in excess of an
additional ninety (90) or more days in any one hundred twenty (120) day period. The termination date for a termination of this Agreement pursuant to this Section 4.2 shall be the date specified by Employer in a notice to Employee,
which date shall not be retroactive. Upon any termination of this Agreement pursuant to this Section 4.2, Employee shall be entitled to compensation and/or benefits in accordance with, and subject to, the provisions of Section 5.2 hereof.

 4.3.    Death. Employee’s employment under this Agreement shall terminate automatically upon the death of
Employee, without any requirement of notice by Employer to Employee’s estate. The date of Employee’s death shall be the termination date for a termination of Employee’s employment under this Agreement pursuant to this
Section 4.3. Upon any termination of Employee’s employment under this Agreement pursuant to this Section 4.3, Employee shall be entitled to the compensation specified in Section 5.3 hereof. 

4.4.    Termination by Employer Without Cause. Employer may terminate Employee’s employment without Cause by
giving Employee written notice of such termination. The termination date shall be the date specified by Employer in such notice, which may be up to ninety (90) days from the date of such notice. Upon any termination of Employee’s
employment under this Agreement pursuant to this Section 4.4, Employee shall be entitled to compensation and/or benefits in accordance with, and subject to, the provisions of Section 5.4 hereof. 

4.5.    Termination by Employee Due to Poor Health. Employee may terminate Employee’s employment under this
Agreement upon written notice to Employer if Employee’s health should become impaired to any extent that makes the continued performance of Employee’s duties under this Agreement hazardous to Employee’s physical or mental health or
Employee’s life (regardless of whether such condition would be deemed a Disability under any other Section of this Agreement), provided that Employee shall have furnished Employer with a written statement from a qualified doctor to that
effect, and provided further that, at Employer’s written request and expense, Employee shall submit to a medical examination by an independent qualified physician selected by Employer and acceptable to Employee (which acceptance shall
not be unreasonably withheld), which doctor shall substantially concur with the conclusions of Employee’s doctor. The termination date shall be the date specified in Employee’s notice to Employer, which date may not be earlier than thirty
(30) days nor later than ninety (90) days from Employer’s receipt of such notice. Upon any termination of Employee’s employment under this Agreement pursuant to this Section 4.5, Employee shall be entitled to compensation
and/or benefits in accordance with, and subject to, the provisions of Section 5.5 hereof. 

  
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 4.6.    Termination by Employee. Employee may terminate
Employee’s employment under this Agreement for any reason whatsoever upon not less than ninety (90) days prior written notice to Employer. Upon receipt of such notice from Employee, Employer may, at its option, require Employee to
terminate employment at any time in advance of the expiration of such ninety (90) day period. The termination date under this Section 4.6 shall be the date specified by Employer, but in no event more than ninety (90) days after
Employer’s receipt of notice from Employee as contemplated by this Section. Upon any termination of Employee’s employment under this Agreement pursuant to this Section 4.6, Employee shall be entitled to compensation and/or benefits in
accordance with, and subject to, the provisions of Section 5.6 hereof. 
 4.7.    Termination by Employee for
Good Reason. Employee may terminate Employee’s employment hereunder for Good Reason. For purposes of this Section, “Good Reason” shall mean: 

(a)     a decrease in Employee’s Base Salary; 

(b)     a decrease in Employee’s Performance Bonus opportunity as set forth on Exhibit B or a failure
of the Compensation Committee to approve an annual equity grant within the guidelines set forth on Exhibit B; 

(c)    Employee is assigned any position, duties, responsibilities or compensation that is inconsistent
with the position, duties, or responsibilities of Employee contemplated herein as of the Effective Date or compensation of Employee as of the Effective Date, excluding for this purpose any isolated, insubstantial and inadvertent action not taken in
bad faith and which is remedied by Employer promptly after receipt of written notice; 
 (d)    Employee
experiences a material diminution in his authorities, duties or responsibilities, excluding for this purpose any isolated and inadvertent action not taken in bad faith and which is remedied by Employer promptly after receipt of written notice,
provided that, if following a Change in Control, neither the common stock of Mednax nor the common equity of its successor, parent or subsidiary is listed for trading on a national securities exchange, Employee shall have Good Reason to terminate
employment, 
 (e)    Employee is required to report to any person other than the senior most executive
officer of Mednax, the Board, or a duly constituted committee thereof, or if the senior most executive officer of Mednax is any person other than Roger J. Medel or Joseph M. Calabro, excluding, however, if Employee becomes the senior most executive
officer of Mednax; 

  
 6 

 (f)    there is a material diminution in the authority,
duties or responsibilities of the senior most executive officer of Mednax, other than such a material diminution with respect to Roger J. Medel, where such authority, duties or responsibilities are transferred to Joseph M. Calabro; 

(g)    the requirement by Employer that Employee be based in any office or location outside of the
metropolitan area where Employer’s present corporate offices are located (it being understood that Employee may be presently based at another location), except for travel reasonably required in the performance of Employee’s duties; or 

(h)    any other action or inaction that constitutes a material breach of this Agreement by Employer. 

If Employee desires to terminate Employee’s employment under this Agreement pursuant to this Section, Employee must, within one hundred eighty
(180) days after the occurrence of events giving rise to the Good Reason, provide Employer with a written notice describing the Good Reason in reasonable detail. If Employer fails to cure the matter cited within thirty (30) days after the
date of Employee’s notice, then this Agreement shall terminate as of the end of such thirty (30) day cure period, provided, however, that Employer may, at its option, require Employee to terminate employment at any time in advance
of the expiration of such thirty (30) day cure period. If Employee terminates Employee’s employment under this Agreement pursuant to this Section 4.7, then Employee shall be entitled to compensation and/or benefits in accordance with,
and subject to, the provisions of Section 5.7 hereof. For purposes of this Agreement, “Change in Control” shall mean (i) the acquisition by a person or an entity or a group of persons and entities, directly or indirectly, of more
than fifty (50%) percent of Mednax’s common stock in a single transaction or a series of transactions (hereinafter referred to as a “50% Change in Control”), (ii) a merger or other form of corporate reorganization of Mednax resulting
in an actual or de facto 50% Change in Control, or (iii) the failure of Applicable Directors (defined below) to constitute a majority of the Board during any two (2) consecutive year period after the date of this Agreement (the “Two-Year Period”). “Applicable Directors” shall mean those individuals who are members of the Board at the inception of a Two-Year Period and any new
director whose election to the Board or nomination for election to the Board was approved (prior to any vote thereon by the shareholders) by a vote of at least two-thirds (2/3) of the directors then still in
office who either were directors at the beginning of the Two-Year Period at issue or whose election or nomination for election during such Two-Year Period was previously
approved as provided in this sentence 
  

	 	5.	 Compensation and Benefits Upon Termination. 

5.1.    Cause. If Employee’s employment is terminated for Cause, Employer shall pay Employee’s Base
Salary through the termination date specified in Section 4.1 at the rate in effect at the termination date. 

5.2.    Disability. In the event of Employee’s Disability, Employer shall continue to pay Employee’s
monthly Base Salary for a period of twelve (12) months after the termination date. Amounts payable under this Section 5.2 are not intended to be in lieu of benefits under any long-term disability plan Employer may maintain from time to
time, but any benefits and payments under any such plan shall offset the payments to be made in the first sentence of this section, and Employee’s entitlement to benefits under such plan, if any, shall be determined solely by the plan’s
terms. 

  
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 5.3.    Death. Upon Employee’s death during the Employment
Period, Employer shall pay to the person or entity designated by Employee in a notice filed with Employer or, if no person is designated, to Employee’s estate any unpaid amounts of Base Salary to the date of Employee’s death, plus any
amounts as may be due under Sections 5.8 and 5.11 below. Any payments Employee’s spouse, beneficiaries or estate may be entitled to receive pursuant to any pension plan, employee welfare benefit plan, life insurance policy, or similar plan or
policy then maintained by Employer shall be determined and paid in accordance with the written instruments governing the respective plans and policies. In the event of Employee’s death during the Employment Period, Employer shall notify
Employee’s designee or estate of the Equity Awards held by Employee and the procedures pursuant to which all vested stock options may be exercised and other Equity Awards may be realized under the terms applicable to such awards. 

5.4.    Termination by Employer Without Cause. If Employer terminates Employee’s employment in accordance with
Section 4.4, then (i) Employer shall pay Employee’s Base Salary through the termination date specified in Section 4.4 at the rate in effect at such termination date, plus any amount due under Section 5.8 hereof;
(ii) within thirty (30) days, pay Employee a bonus calculated in accordance with Section 5.11 hereof; (iii) Employer shall continue to pay Employee’s monthly Base Salary for a period of twenty-four (24) months after the
termination date; and (iv) within thirty (30) days of the first (1st) anniversary of the termination date, pay Employee an amount equal to 1.5 times Employee’s Average Annual
Performance Bonus (as defined below). For purposes of this Agreement, “Average Annual Performance Bonus” shall be equal to the average of the percentage of the Performance Bonus target achieved by Employee for the three (3) full
calendar years prior to the termination date, and calculated based on Employee’s Base Salary and target Performance Bonus in Employee’s current position, provided, however, that if Employee is terminated pursuant to this
Section 5.4 before April 1, 2022, the preceding calculation will be based on the higher of the average target achieved and the target amount set forth on Exhibit B. For illustration purposes, and assuming Employee had been employed
through April 1, 2022 at the time of his termination, if Employee earned 40%, 100% and 70% of Employee’s target Performance Bonus in each of the three full calendar years prior to termination, and Employee’s current
target Performance Bonus was 100% of Base Salary, and Base Salary was $450,000.00, then Employee’s Average Annual Performance Bonus would equal $315,000.00. ((40%+ 100% + 70%) / 3 x 100% x $450,000.00 = $315,000.00).  

5.5.    Termination by Employee Due to Poor Health. If Employee terminates Employee’s employment under this
Agreement pursuant to Section 4.5 hereof, Employer shall pay to Employee any unpaid amounts of Base Salary to the termination date specified in Section 4.5, plus any disability payments otherwise payable by or pursuant to plans provided by
Employer, plus any amounts as may be due under Section 5.8 and 5.11 below. 
 5.6.    Termination by
Employee. If Employee’s employment under this Agreement terminates pursuant to Section 4.6 hereof, Employer shall pay to Employee any unpaid amounts of Base Salary to the termination date specified in Section 4.6, plus any amounts
as may be due under Section 5.8 below. In the event that the termination date specified by Employer is less than ninety (90) days after the date of Employer’s receipt of notice as contemplated by Section 4.6, then Employer shall
continue Employee’s Base Salary for a period of days equal to ninety (90) minus the number of days from Employee’s notice to the termination date. 

  
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 5.7.    Termination for Good Reason. If Employee’s
employment under this Agreement is terminated pursuant to Section 4.7, then Employer shall (i) pay Employee’s Base Salary through the termination date specified in Section 4.7 at the rate in effect at such termination date,
(ii) pay any amounts as may be due under Sections 5.8 and 5.11, and (iii) continue to pay Employee’s Base Salary for a period of eighteen (18) months after the termination date, provided that if Employee’s employment under
this Agreement is terminated pursuant to Section 4.7 following a Change in Control, then Employer shall continue to pay Employee’s Base Salary for a period of twenty-four (24) months after the termination date.  

5.8.    Expense Reimbursement. Employee shall be entitled to reimbursement for reasonable business expenses
incurred prior to the termination date, subject, however to the provisions of Section 3.1. Such reimbursement shall be made at the times and in accordance with Employer’s normal procedures for reimbursements. 

5.9.    Continuation of Benefit Plans. Employee shall be entitled to continuation of health, medical,
hospitalization and other similar health insurance programs on the same basis as regular, full-time employees of Employer and their eligible dependents during the period that Employee is receiving Base Salary payments under Section 5 of this
Agreement and, in all cases, as provided by any applicable law. Following such period of continued benefit plan coverage, Employee and each of his eligible dependents shall be entitled to elect for continuation of coverage provided pursuant to
Section 601 et. seq. of the Employee Retirement Income Security Act of 1974, 29 USC §1101 (“COBRA”). 

5.10    Period for Exercising Stock Options After Termination. Except as to incentive stock options granted in
accordance with Section 422 of the Internal Revenue Code, Employee shall be allowed a period of the greater of (i) twenty-four (24) months after termination of Employee under this Agreement or (ii) twelve months from the
applicable vesting date during which to exercise any vested options to purchase Mednax’s common stock or vested stock appreciation rights and realize any other vested incentive compensation awards that may be granted or made under any Equity
Plan; provided, however, that in no event shall the period during which Employee may exercise any vested stock option or vested stock appreciation right be extended pursuant to this Section 5.10 to a date that is later than the earlier of
(i) the latest date upon which the stock right could have expired by its original terms under any circumstances or (ii) the tenth anniversary of the original date of grant of the stock right. In all other respects, the terms of the
applicable Equity Plan shall control the terms and conditions of any awards made pursuant thereto. 

5.11.    Performance Bonus. In the situations described in Sections 5.2, 5.3, 5.4, 5.5 and 5.7, upon termination of
this Agreement, Employee will be paid, solely in consideration of services rendered by Employee prior to termination, a bonus with respect to Employer’s fiscal year in which the termination date occurs, equal to the Performance Bonus, if
any, that would have been payable to Employee, based on Employee and Employer meeting certain goals and objectives, for the fiscal year if Employee’s employment had not been terminated, multiplied by the number of days in the fiscal year prior
to and including the date of termination and divided by three hundred sixty five (365). The amount of the post-termination Performance Bonus paid in the situations described in Sections 5.2, 5.3, 5.4 5.5 and 5.7 shall be determined in good faith by
Employer in its sole discretion at the time that Employer distributes bonuses to similarly situated employees. Any amount payable under this Section 5.11 shall be paid to Employee when Employer pays performance bonuses to its eligible
employees, which shall be in the calendar year following the termination date of this Agreement. In addition, in the situations described in Section 5.7, Employee will be paid, solely in consideration of services rendered by Employee prior to
termination, an additional bonus with respect to Employer’s fiscal year in which the termination date occurs, equal to 1.5 times the greater of Employee’s Average Annual Performance Bonus (as defined in Section 5.4) or Employee’s
bonus for the year immediately preceding Employee’s termination. Such additional bonus shall be payable to Employee within ninety (90) days of Employee’s termination date pursuant to Section 4.7. 

  
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 5.12.    Section 409A Compliance. 

(a)    General. It is the intention of both Employer and Employee that the benefits and rights to
which Employee could be entitled in connection with termination of employment comply with Section 409A of the Code and the Treasury Regulations and other guidance promulgated or issued thereunder (“Section 409A”), and the
provisions of this Agreement shall be construed in a manner consistent with that intention. If Employee or Employer believes, at any time, that any such benefit or right does not so comply, it shall promptly advise the other and shall negotiate
reasonably and in good faith to amend the terms of such benefits and rights such that they comply with Section 409A of the Code (with the most limited possible economic effect on Employee and on Employer). 

(b)    Distributions on Account of Separation from Service. If and to the extent required to comply
with Section 409A, no payment or benefit required to be paid under this Agreement on account of termination of Employee’s employment shall be made unless and until Employee incurs a “separation from service”, within the meaning
of Section 409A. 
 (c)    6 Month Delay for Specified Employees. 

(i)    If Employee is a “specified employee”, then no payment or benefit that is payable on
account of Employee’s “separation from service”, as that term is defined for purposes of Section 409A, shall be made before the date that is six months after Employee’s “separation from service” (or, if earlier,
the date of Employee’s death) if and to the extent that such payment or benefit constitutes deferred compensation (or may be nonqualified deferred compensation) under Section 409A and such deferral is required to comply with the
requirements of Section 409A. Any payment or benefit delayed by reason of the prior sentence shall be paid out or provided in a single lump sum at the end of such required delay period in order to catch up to the original payment schedule. 

  
 10 

 (ii)    For purposes of this provision, Employee shall
be considered to be a “specified employee” if, at the time of his separation from service, Employee is a “key employee”, within the meaning of Section 416(i) of the Code, of Employer (or any person or entity with whom
Employer would be considered a single employer under Section 414(b) or Section 414(c) of the Code) any stock in which is publicly traded on an established securities market or otherwise. 

(iii)    Unless otherwise required to comply with Section 409A, a payment or benefit shall not be
deferred pursuant to this provision if: 
 (x)    it is not made on account of Employee’s
“separation from service”, (y) it is required to be paid no later than within 2  1⁄2 months after the end of the taxable year of Employee in which
the payment or benefit is no longer subject to a “substantial risk of forfeiture”, as that term is defined for purposes of Section 409A, or (z) the payment satisfies the following requirements: (A) it is being paid or
provided due to Employer’s termination of Employee’s employment without Cause (Section 4.4) or Employee’s termination of employment after a Change in Control for the reasons set forth in Section 4.7 hereof, (B) it does not
exceed two times the lesser of (1) Employee’s annualized compensation from Employer for the calendar year prior to the calendar year in which the termination of Employee’s employment occurs, and (2) the maximum amount of
compensation that may be taken into account under a qualified plan pursuant to Section 401(a)(17) of the Code for the year in which Employee’s employment terminates, and (C) the payment is required under this Agreement to be paid no
later than the last day of the second calendar year following the calendar year in which Employee incurs a “separation from service”. 

(d)    No Acceleration of Payments. Neither Employer nor Employee, individually or in combination, may
accelerate any payment or benefit that is subject to Section 409A, except in compliance with Section 409A and the provisions of this Agreement, and no amount shall be paid prior to the earliest date on which it may be paid without
violating Section 409A. 
 (e)    Treatment of Each Installment as a Separate Payment. For purposes
of applying the provisions of Section 409A to this Agreement, each separately identified amount to which Employee is entitled under this Agreement shall be treated as a separate payment. In addition, to the extent permissible under
Section 409A, any series of installment payments under this Agreement shall be treated as a right to a series of separate payments. 

(f)    Reimbursements and In-Kind Benefits. 

(i)    Any reimbursements by Employer to Employee of any eligible expenses pursuant to Section 3.1 or
5.8 of this Agreement, that are not excludible from Employee’s income for Federal income tax purposes (“Taxable Reimbursements”) shall be made on or before the last day of the taxable year of Employee following the year in which the
expense was incurred. 

  
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 (ii)    The amount of any Taxable Reimbursements, and
the value of any in-kind benefits to be provided to Employee under this Agreement, during any taxable year of Employee shall not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year of Employee. 

(iii)    The right to Taxable Reimbursements, or in-kind benefits,
shall not be subject to liquidation or exchange for another benefit. 
 5.13.    Release. Employer shall provide
Employee with a general release in the form attached as Exhibit C (subject to such modifications as Employer may reasonably request) within seven (7) days after Employee’s termination date. Payments or benefits to which Employee may
be entitled pursuant to this Section 5 (other than any accrued but unpaid Base Salary and employee benefits as of the end of the Employment Period) (the “Severance Amounts”) shall be conditioned upon Employee executing the general
release within 21 days after receiving it from Employer and the general release becoming irrevocable upon the expiration of 7 days following the Employee’s execution of it. Payment of the Severance Amounts shall be suspended during the period
(the “Suspension Period”) that begins on Employee’s termination date and ends on the date (“Suspension Termination Date”) that is thirty-five (35) days after Employee’s termination date; provided, however, that
this suspension shall not apply, and Employer shall be required to provide, any continued health insurance coverage that would be required under Section 5.9 hereof during the Suspension Period. If Employee executes the general release and the
general release becomes irrevocable by no later than the Suspension Termination Date, then payment of any Severance Amounts that were suspended pursuant to this provision shall be made in the first payroll period that follows the Suspension
Termination Date, and any Severance Amounts that are payable after the Suspension Termination Date shall be paid at the times provided in Section 5. 

5.14.    Vesting of Incentive Awards. Notwithstanding any contrary provision in this Agreement or any Equity
Plan then maintained by Mednax, and in addition to any other payments or benefits provided in this Agreement upon a termination of Employee’s employment, all Equity Awards granted to Employee by Mednax prior to termination of this Agreement
shall become fully vested, non-forfeitable, and, if applicable, exercisable, in the event Employee’s employment is terminated pursuant to Section 4.2, 4.3, 4.4, 4.5 or 4.7. 

Notwithstanding anything to the contrary in this Agreement, the Equity Plans or the Equity Awards, in the event of a Change in Control
immediately following which neither the common stock of Mednax nor the common equity of its successor, parent or subsidiary is listed for trading on a national securities exchange (a “Going Private Transaction”), then all unvested Equity
Awards granted to the Employee shall be adjusted so that in lieu of the Employee’s right to receive shares of common stock of Mednax pursuant to the terms of such Equity Awards, the Employee shall be entitled to receive, for each share of
common stock of Mednax that Employee would otherwise be entitled to receive pursuant to such Equity Awards, an amount of cash equal to the amount per share of common stock of Mednax paid to the shareholders of Mednax in such Going Private
Transaction, as determined by the Compensation Committee in its sole discretion, in each case consistent with the vesting schedule of such Equity Awards and shall remain subject to the acceleration provisions set forth in this Section 5.14.

  
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	 	6.	 Successors; Binding Agreement. 

6.1.    Successors. Employer shall require any successor (whether direct or indirect, by purchase, merger,
consolidation or otherwise) acquiring a majority of Employer’s voting common stock or any other successor to all or substantially all of the business and/or assets of Employer to expressly assume and agree to perform this Agreement in the same
manner and to the same extent that Employer would be required to perform it if no such succession had taken place and Employee hereby consents to any such assignment. In such event, “Employer” shall mean Employer as previously defined and
any successor to its business and/or assets which executes and delivers the agreement provided for in this Section 6 or which otherwise becomes bound by all the terms and provisions of this Agreement by operation of law. This Section shall not
limit Employee’s ability to terminate this Agreement in the circumstances described in Section 4.7. 

6.2.    Benefit. This Agreement and all rights of Employee under this Agreement shall inure to the benefit of and
be enforceable by Employee’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. If Employee should die after the termination date and amounts would have been payable to Employee
under this Agreement if Employee had continued to live, including under Section 5 hereof, then such amounts shall be paid to Employee’s devisee, legatee, or other designee or, if there is no such designee, Employee’s estate. 

7.    Conflicts. Except as otherwise provided in this Agreement, this Agreement constitutes the entire
agreement among the parties pertaining to the subject matter hereof, and supersedes and revokes any and all prior offer letters or existing agreements, written or oral, relating to the subject matter hereof, and this Agreement shall be solely
determinative of the subject matter hereof. 
 8.    Restrictive Covenants; Confidential Information; Work Product;
Injunctive Relief. 
 8.1.    No Material Competition. Employer and Employee acknowledge and agree that a
strong relationship and connection exists between Employer and its current and prospective patients, referral sources, and customers as well as the hospitals and healthcare facilities at which it provides professional services. Employer and Employee
further acknowledge and agree that the restrictive covenants described in this Section are designed to enforce, and are ancillary to or part of, the promises contained in this Agreement and are reasonably necessary to protect the legitimate
interests of Employer in the following: (1) the use and disclosure of the Confidential Information as described in Section 8.4; (2) the professional development activities described in Section 1.2; and (3) the goodwill of
Employer, as promoted by Employee as provided in Section 1.2. The foregoing listing is by way of example only and shall not be construed to be an exclusive or exhaustive list of such interests. Employee acknowledges that the restrictive
covenants set forth below are of significant value to Employer and were a material inducement to Employer in agreeing to the terms of this Agreement. Employee further acknowledges that the goodwill and other proprietary interest of Employer will
suffer irreparable and continuing damage in the event Employee enters into competition with Employer in violation of this Section. 

  
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 Therefore, Employee agrees that, except with respect to services performed under this Agreement on behalf of
Employer, Employee shall not, at any time during the Restricted Period (as defined below), for Employee or on behalf of any other person, persons, firm, partnership, corporation or employer, participate or engage in or own an interest in,
directly or indirectly, any individual proprietorship, partnership, corporation, joint venture, trust or other form of business entity, whether as an individual proprietor, partner, joint venturer, officer, director, member, employee, consultant,
independent contractor, stockholder, lender, landlord, finder, agent, broker, trustee, or in any manner whatsoever, if such entity or its affiliates is engaged in, directly or indirectly, “Employer’s Business,” as defined on Exhibit A
hereto. Employee acknowledges that, as of the date hereof, Employee’s responsibilities will include matters affecting the businesses of Employer listed on Exhibit A. For purposes of this Section 8, the “Restricted Period” shall
mean the Employment Period plus (i) eighteen (18) months in the event this Agreement is terminated pursuant to Sections 4.1, (ii) thirty (30) months in the event the Agreement is terminated pursuant to Section 4.4; (iii) thirty
(30) months in the event the Agreement is terminated pursuant to Section 4.7 following a Change in Control, and (iii) twenty-four (24) months in the event the Agreement is terminated for any other reason. 

8.2.    No Hire. Employee further agrees that Employee shall not, at any time during the Employment Period
and for a period of eighteen (18) months immediately following termination of this Agreement for any reason, for Employee or on behalf of any other person, persons, firm, partnership, corporation or employer, intentionally, knowingly, or
willingly employ, or intentionally, knowingly, or willingly permit any company or business directly or indirectly controlled by Employee to employ or otherwise engage (a) any person who is a then current employee or independent contractor of
Employer or one of its affiliates, or (b) any person who was an employee or independent contractor of Employer or one of its affiliates in the prior six (6) month period, or in any manner seek to induce such persons to leave his or her
employment or engagement with Employer or one of its affiliates (including without limitation for or on behalf of a subsequent employer of Employee). 

8.3 Non-solicitation. Employee further agrees that Employee shall not, at any time
during the Employment Period and for a period of eighteen (18) months immediately following termination of this Agreement for any reason, for Employee or on behalf of any other person, persons, firm, partnership, corporation or employer,
solicit or accept business from or take any action that would interfere with, diminish or impair the valuable relationships that Employer or its affiliates have with (i) hospitals or other health care facilities with which Employer or its
affiliates have contracts to render professional services or otherwise have established relationships, (ii) patients, (iii) referral sources, (iv) vendors, (v) any other clients of Employer or its affiliates, or (vi) prospective
hospitals, patients, referral sources, vendors or clients whose business Employee was aware that Employer or any affiliate of Employer was in the process of soliciting at the time of Employee’s termination (including potential acquisition
targets). 
 8.4.    Confidential Information. At all times during the term of this Agreement, Employer shall
provide Employee with access to “Confidential Information.” As used in this Agreement, the term “Confidential Information” means any and all confidential, proprietary or trade secret information, whether disclosed, directly or
indirectly, verbally, in writing or by any other means in tangible or intangible form, including that which is conceived or developed by Employee, applicable to or in any way related to: (i) patients with whom Employer has a physician/patient
relationship; (ii) the present or future business of Employer; or (iii) the research and development of Employer. Without limiting the generality of the foregoing, Confidential Information includes: (a) the development and operation
of Employer’s medical practices, including information relating to budgeting, staffing needs, marketing, research, hospital relationships, equipment capabilities, and other information concerning such facilities and operations and specifically
including the procedures and business plans developed by Employer for use at the hospitals where Employer conducts its business; (b) contractual arrangements between Employer and insurers or managed care associations or other payors;
(c) the databases of Employer; (d) the clinical and research protocols of Employer, including coding guidelines; (e) the referral sources of Employer; (f) other confidential information of Employer that is not generally known to
the public that gives Employer the opportunity to obtain an advantage over competitors who do not know or use it, including the names, addresses, telephone numbers or special needs of any of its patients, its patient lists, its marketing methods and
related data, lists or other written records used in Employer’s business, compensation paid to employees and other terms of employment, accounting ledgers and financial statements, contracts and licenses, business systems, business plan and
projections, and computer programs. The parties agree that, as between them, this Confidential Information constitutes important, material, and confidential trade secrets that affect the successful conduct of Employer’s business and its
goodwill. Employer acknowledges that the Confidential Information specifically enumerated above is special and unique information and is not information that would be considered a part of the general knowledge and skill Employee has or might
otherwise obtain. 

  
 14 

 Notwithstanding the foregoing, Confidential Information shall not include any information
that (i) was known by Employee from a third party source before disclosure by or on behalf of Employer, (ii) becomes available to Employee from a source other than Employer that is not, to Employee’s knowledge, bound by a duty of
confidentiality to Employer, (iii) becomes generally available or known in the industry other than as a result of its disclosure by Employee, or (iv) has been independently developed by Employee and may be disclosed by Employee without
breach of this Agreement, provided, in each case, that the Employee shall bear the burden of demonstrating that the information falls under one of the above-described exceptions. 

Employee agrees that the terms of this Agreement shall be deemed Confidential Information for purposes of this Section. Employee shall keep
the terms of this Agreement strictly confidential and will not, without the prior written consent of Employer, disclose the details of this Agreement to any third party in any manner whatsoever in whole or in part, with the exception of
Employee’s representatives (such as tax advisors and attorneys) who need to know such information. 
 Employee agrees that Employee
will not at any time, whether during or subsequent to the term of Employee’s employment with Employer, in any fashion, form or manner, unless specifically consented to in writing by Employer, either directly or indirectly, use or divulge,
disclose, or communicate to any person, firm or corporation, in any manner whatsoever, any Confidential Information of any kind, nature, or description, subject to applicable law. The parties agree that any breach by Employee of any term of this
Section is a material breach of this Agreement and shall constitute “Cause” for the termination of Employee’s employment hereunder. In the event that Employee is ordered to disclose any Confidential Information, whether in a legal or
a regulatory proceeding or otherwise, Employee shall provide Employer with prompt written notice of such request or order so that Employer may seek to prevent disclosure or, if that cannot be achieved, the entry of a protective order or other
appropriate protective device or procedure in order to assure, to the extent practicable, compliance with the provisions of this Agreement. In the case of any disclosure required by law, Employee shall disclose only that portion of the Confidential
Information that Employee is ordered to disclose in a legally binding subpoena, demand or similar order issued pursuant to a legal or regulatory proceeding. 

  
 15 

 All Confidential Information, and all equipment, notebooks, documents, memoranda, reports,
files, samples, books, correspondence, lists, other written and graphic records, in any media (including electronic or video) containing Confidential Information or relating to the business of Employer, which Employee shall prepare, use, construct,
observe, possess, or control shall be and remain Employer’s sole property (collectively “Employer Property”). Upon termination or expiration of this Agreement, or earlier upon Employer’s request, Employee shall promptly deliver
to Employer all Employer Property, retaining none. 
 8.5.    Ownership of Work Product. Employee agrees and
acknowledges that (i) all copyrights, patents, trade secrets, trademarks, service marks, or other intellectual property or proprietary rights associated with any ideas, concepts, techniques, inventions, processes, or works of authorship
developed or created by Employee during the course of performing work for Employer and any other work product conceived, created, designed, developed or contributed by Employee during the term of this Agreement that relates in any way to
Employer’s Business (collectively, the “Work Product”), shall belong exclusively to Employer and shall, to the extent possible, be considered a work made for hire within the meaning of Title 17 of the United States Code. To the extent
the Work Product may not be considered a work made for hire owned exclusively by Employer, Employee hereby assigns to Employer all right, title, and interest worldwide in and to such Work Product at the time of its creation, without any requirement
of further consideration. Upon request of Employer, Employee shall take such further actions and execute such further documents as Employer may deem necessary or desirable to further the purposes of this Agreement, including without limitation
separate assignments of all right, title, and interest in and to all rights of copyright and all right, title, and interest in and to any inventions or patents and any reissues or extensions which may be granted therefore, and in and to any
improvements, additions to, or modifications thereto, which Employee may acquire by invention or otherwise, the same to be held and enjoyed by Employer for its own use and benefit, and for the use and benefit of Employer’s successors and
assigns, as fully and as entirely as the same might be held by Employee had this assignment not been made. 

8.6.    Clearance Procedure for Proprietary Rights Not Claimed by Employer. In the event that Employee wishes to
create or develop, other than on Employer’s time or using Employer’s resources, anything that may be considered Work Product but to which Employee believes Employee should be entitled to the personal benefit of, Employee agrees to
follow the clearance procedure set forth in this Section. Before beginning any such work, Employee agrees to give Employer advance written notice and provide Employer with a sufficiently detailed written description of the work under consideration
for Employer to make a determination regarding the work. Unless otherwise agreed in a writing signed by Employer prior to receipt, Employer shall have no obligation of confidentiality with respect to such request or description. Employer will
determine in its sole discretion, within thirty (30) days after Employee has fully disclosed such plans to Employer, whether rights in such work will be claimed by Employer. If Employer determines that it does not claim rights in such work,
Employer agrees to so notify Employee in writing and Employee may retain ownership of the work to the extent that such work has been expressly disclosed to Employer. If Employer fails to so notify Employee within such thirty (30) day period,
then Employer shall be deemed to have agreed that such work is not considered Work Product for purposes of this Agreement. Employee agrees to submit for further review any significant improvement, modification, or adaptation that could reasonably be
related to Employer’s Business so that it can be determined whether the improvement, modification, or adaptation relates to the business or interests of Employer. Clearance under this procedure does not relieve Employee of the restrictive
covenants set forth in this Section 8. 

  
 16 

 8.7.
    Non-Disparagement. For a period of ten (10) years after the termination of this Agreement, Employee will not, directly or indirectly, as an individual or on behalf of a
firm, corporation, partnership or other legal entity, make any disparaging or negative comment to any other person or entity regarding Employer or any of its affiliates, agents, attorneys, employees, officers and directors, Employee’s work
conditions or circumstances surrounding Employee’s separation from Employer or otherwise impugn or criticize the name or reputation of Employer, its affiliates, agents, attorneys, employees, officers or directors, orally or in writing. 

8.8.    Review by Employee. Employee has carefully read and considered the terms and provisions of this
Section 8, and having done so, agrees that the restrictions set forth in this Section 8 are fair and reasonably required for the protection of the interests of Employer. In the event that any term or
provision set forth in this Section 8 shall be held to be invalid or unenforceable by a court of competent jurisdiction, the parties hereto agree that such invalid or unenforceable term(s) or provision(s) may be severed from this Agreement
without, in any manner, affecting the remaining portions hereof. Without limiting other possible remedies available to Employer, Employee agrees that injunctive or other equitable relief will be available to enforce the covenants set forth in this
Section, such relief to be without the necessity of posting a bond. In the event that, notwithstanding the foregoing, any part of the covenants set forth in this Section shall be held to be invalid, overbroad, or unenforceable by an arbitration
panel or a court of competent jurisdiction, the parties hereto agree that such invalid, overbroad, or unenforceable provision(s) may be modified or severed from this Agreement without, in any manner, affecting the remaining portions of this
Section 8 (all of which shall remain in full force and effect). In the event that any provision of this Section 8 related to time period or areas of restriction shall be declared by an arbitration panel or a court of competent jurisdiction
to exceed the maximum time period, area or activities such arbitration panel or court deems reasonable and enforceable, said time period or areas of restriction shall be deemed modified to the minimum extent necessary to make the geographic or
temporal restrictions or activities reasonable and enforceable. 
 8.9.    Survival. The provisions of this
Section 8 shall survive the termination of this Agreement and Employee’s employment with Employer. The provisions of this Section 8 shall apply during the time Employee is receiving Disability payments from Employer as a result
of a termination of this Agreement pursuant to Section 4.2 hereof. In the event of a breach of this Section 8 by Employee, Employer retains the right to terminate any continuing payments to Employee provided for in Section 5 of
this Agreement. The provisions of this Section 8 are expressly intended to benefit and be enforceable by other affiliated entities of Employer, who are express third party beneficiaries hereof. Employee shall not assist others in engaging in
any of the activities described in the foregoing restrictive covenants. 

  
 17 

 9.    Arbitration. Any controversy or claim arising out of
or relating to this Agreement, or any alleged breach hereof shall be finally determined by a single arbitrator, jointly selected by the Employee and Employer, provided that if Employee and Employer are unable to agree upon a single arbitrator after
reasonable efforts, the arbitrator shall be an impartial arbitrator selected by the American Arbitration Association. Each party hereto shall share equally the costs of the arbitrator, and the parties agree that the costs of arbitration shall not be
subject to reapportionment by the arbitrator; provided, however, that if following a termination of Employee’s employment that follows a Change in Control or if following a termination of Employee’s employment for Good Reason that
follows any person other than Roger J. Medel or Joseph M. Calabro commencing service as the senior most executive officer of Mednax, Employee seeks arbitration to enforce the terms of this Agreement, Employer shall bear all costs associated with
such arbitration, including but not limited to all costs of the arbitrator, and shall reimburse Employee on a monthly basis for his reasonable legal and other expenses, including all fees, incurred in connection with any such arbitration. The
arbitration proceedings shall be held in Sunrise, Florida, unless otherwise mutually agreed by the parties, and shall be conducted in accordance with the American Arbitration Association National Rules for the Resolution of Employment Disputes then
in effect. Judgment on the award rendered by the arbitration panel may be entered and enforced by any court having jurisdiction thereof. Any such arbitration shall be treated as confidential by all parties thereto, except as otherwise provided by
law or as otherwise necessary to enforce any judgment or order issued by the arbitrators. 
 Notwithstanding anything herein to the
contrary, if Employer or Employee shall require immediate injunctive relief, then the party shall be entitled to seek such relief in any court having jurisdiction, and if the party elects to do so, the other party hereby consents to the jurisdiction
of the state and federal courts sitting in the State of Florida and to the applicable service of process. Employee and Employer hereby waive and agree not to assert, to the fullest extent permitted by applicable law, any claim that (i) they are
not subject to the jurisdiction of such courts, (ii) they are immune from any legal process issued by such courts and (iii) any litigation or other proceeding commenced in such courts is brought in an inconvenient forum. In the event that
either party hereto brings suit seeking injunctive relief, the party found to be at fault shall pay all reasonable court costs and attorneys’ fees of the other, whether such costs and fees are incurred in a court of original jurisdiction or one
or more courts of appellate jurisdiction. Notwithstanding the foregoing, in the event that Employer brings suit against Employee seeking injunctive relief, Employer agrees to advance all of Employee’s reasonable legal and other expenses,
including all fees, incurred by the Employee in connection with such action, provided, however, that if Employer ultimately prevails in seeking injunctive relief, Employee shall reimburse Employer all such advanced legal fees and other expenses.

  
 18 

 10.    Governing Law. This Agreement shall be governed by
and construed in accordance with the laws of the State of Florida without regard to its conflict of laws principles to the extent that such principles would require the application of laws other than the laws of the State of Florida. 

11.    Notices. Any notice required or permitted to be given under this Agreement shall be in writing and
shall be deemed to have been given when delivered by hand or when deposited in the United States mail by registered or certified mail, return receipt requested, postage prepaid, addressed as follows: 

 

							
		 	If to Employer:	  	If to Employee:	  	
				
		 	Mednax Services, Inc.	  	Stephen Farber	  	
		 	1301 Concord Terrace	  	c/o Mednax Services, Inc.	  	
		 	Sunrise, FL 33323	  	1301 Concord Terrace	  	
		 	Attention: General Counsel	  	Sunrise, FL 33323	  	

 or to such other addresses as either party hereto may from time to time give notice of to the other in the aforesaid manner.

 12.    Benefits: Binding Effect. This Agreement shall be for the benefit of and binding upon the
parties hereto and their respective heirs, personal representatives, legal representatives, successors and, where applicable, assigns.    Notwithstanding the foregoing, Employee may not assign the rights or benefits hereunder
without the prior written consent of Employer. 
 13.    Indemnification. In connection with the entrance
into this Agreement, Employer and Mednax shall enter into an Indemnification Agreement in favor of Employee in the form attached as Exhibit 10.6 to Mednax’s Annual Report on Form 10-K for the year ended
December 31, 2017. 
 14.    Severability. The invalidity of any one or more of the words, phrases,
sentences, clauses or sections contained in this Agreement shall not affect the enforceability of the remaining portions of this Agreement or any part thereof, all of which are inserted conditionally on their being valid in law, and, in the event
that any one or more of the words, phrases, sentences, clauses or sections contained in this Agreement shall be declared invalid, this Agreement shall be construed as if such invalid word or words, phrase or phrases, sentence or sentences, clause or
clauses, or section or sections had not been inserted. If such invalidity is caused by length of time or size of area, or both, the otherwise invalid provision will be considered to be reduced to a period or area, which would cure such invalidity.

 15.    Waivers. The waiver by either party hereto of a breach or violation of any term or provision of
this Agreement shall not operate nor be construed as a waiver of any subsequent breach or violation. 

  
 19 

 16.    Damages. Nothing contained herein shall be
construed to prevent Employer or Employee from seeking and recovering from the other damages sustained by either or both of them as a result of a breach of any term or provision of this Agreement. 

17.    No Third Party Beneficiary. Except as provided in Section 8.9, nothing expressed or implied in
this Agreement is intended, or shall be construed, to confer upon or give any person (other than the parties hereto and, in the case of Employee, Employee’s heirs, personal representative(s) and/or legal representative) any rights or remedies
under or by reason of this Agreement. No agreements or representations, oral or otherwise, express or implied, have been made by either party with respect to the subject matter of this Agreement which agreements or representations are not set forth
expressly in this Agreement, and this Agreement supersedes any other employment agreement between Employer and Employee. 

18.    Assignment. This Agreement may be assigned by Employer upon notice to Employee. 

19.    Notwithstanding anything in this Agreement to the contrary, nothing in this Agreement or any other agreement
between Employer and Employee shall prevent Employee from filing a charge, sharing information and communicating in good faith, without prior notice to the Employer, with any federal government agency having jurisdiction over the Employer or its
operations, and cooperating in any investigation by any such federal government agency; However, to the maximum extent permitted by law, Employee agrees that if such an administrative claim is made, Employee shall not be entitled to recover any
individual monetary relief or other individual remedies.  
 The remainder of this page has been left blank intentionally.

  
 20 

 IN WITNESS WHEREOF, the undersigned have executed this Agreement this 22nd day of
August, 2018, effective as of the Effective Date. 
  

									
	EMPLOYER:	 		 	EMPLOYEE:
			
	MEDNAX SERVICES, INC.	 		 	
					
	By:	 	/s/ Manuel Kadre	 		 	By:	 	/s/ Stephen Farber
		 	Manuel Kadre	 		 		 	Stephen Farber
		 	Chairman, Compensation Committee	 		 		 	

 EXHIBIT A 

BUSINESS OF EMPLOYER 
 As
of the date hereof, Employer, directly or through its affiliates, provides professional medical services and all aspects of practice management services in medical practice areas that include, but are not limited to, the following (collectively
referred to herein as “Employer’s Business”): 
 (1) Neonatology, including hospital well baby care; 

(2) Maternal-Fetal Medicine, including general obstetrics services; 

(3) Pediatric Cardiology; 
 (4) Pediatric Intensive Care,
including Pediatric Hospitalist Care; 
 (5) Newborn hearing screening services; 

(6) Pediatric Surgery; 
 (7) Pediatric Emergency Medicine; 

(8) Anesthesiology, critical care medicine and pain management; and 

(9) Radiology and Teleradiology. 
 References to
Employer’s Business in this Agreement shall include such other medical service lines, practice management services and other businesses in which Employer is engaged during the Employment Period; provided, that to be considered a part of
Employer’s Business, Employer must have engaged in such other service line, practice management service or other business at least six (6) months prior to the termination date of this Agreement. For purposes of this Exhibit A, businesses
of Employer shall include the businesses conducted by Employer’s subsidiaries, entities under common control and affiliates as defined under Rule 144 of the Securities Act of 1933, as amended. Such affiliates shall include the professional
corporations and associations whose operating results are consolidated with Employer for financial reporting purposes. 
 Notwithstanding
the foregoing, Employer acknowledges and agrees to the following exceptions and clarifications regarding the scope of Employer’s Business. 

A.    Hospital Services. Employer and Employee acknowledge that, as of the date hereof, Employer does not currently
operate hospitals, hospital systems or universities. Nevertheless, the businesses of hospitals, hospital systems and universities would be the same as Employer’s Business where such hospitals, hospital systems or universities provide or
contract with others to provide some or all of the medical services included in Employer’s Business. Therefore, the parties desire to clarify their intent with respect to the limitations on Employee’s ability to work for or contract with
others to provide services for a hospital, hospital system or university during the Employment Period and during the Restricted Period. Section 8.1 shall not be deemed to restrict Employee’s ability to work for a hospital, hospital system
or university if the hospital, hospital system or university does not provide any of the medical services included in Employer’s Business. Furthermore, even if a hospital, hospital system or university provides medical services that are
included in Employer’s Business, Employee may work for such hospital, hospital system or university if Employee has no direct supervisory responsibility for or involvement in the hospital’s, hospital system’s or university’s
provision of medical services that are Employer’s Business. For the avoidance of doubt, Employer and Employee agree that if Employee becomes the Chief Financial Officer or Chief Executive Officer of a hospital system or health system, or other
executive officer of similar level to the foregoing, that Employee shall not be in breach of the provisions of this Agreement. Finally, Employer agrees that Employee may hold direct supervisory responsibility for or be involved in the medical
services of a hospital, hospital system or university that are included in Employer’s Business so long as such hospital, hospital system or university is located at least ten (10) miles from a medical practice owned or operated by Employer
or its affiliate. Subject to paragraph B below, the provisions of this paragraph shall not apply to the extent that, after the date hereof, Employer enters into the business of operating a hospital or hospital system. 

 B.    De Minimus Exception. Employer agrees that a medical
service line (other than those listed in items 1 through 9 above), practice management service or other business in which Employer is engaged shall not be considered to be a part of Employer’s Business if such medical service line, practice
management service or other business constitutes less than three percent (3%) of Employer’s annual revenues. 

C.    Certain Ownership Interests. It shall not be deemed to be a violation of Section 8.1 for Employee
to: (i) own, directly or indirectly, one percent (1%) or less of a publicly-traded entity that has a market capitalization of $1 billion or more; (ii) own, directly or indirectly, five percent (5%) or less of a publicly-traded entity
that has a market capitalization of less than $1 billion; or (iii) own, directly or indirectly, less than ten percent (10%) of a privately-held business or company, if Employee is at all times a passive investor with no board
representation, management authority or other special rights to control operations of such business or company.  

  
 23 

 EXHIBIT B 

COMPENSATION 
 Base Salary: Five
Hundred and Fifty Thousand Dollars 
 Performance Bonus: Target of One Hundred Percent (100%) of Employee’s Base Salary with a Maximum Bonus
potential of Two Hundred Percent (200%) of Employee’s Base Salary 
 Equity Compensation: Employee’s annual equity compensation grant
target amount shall be at least $2.4 million, subject to the approval of the Compensation Committee of the Board of Directors. 

  
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 EXHIBIT C 

FORM OF RELEASE 

GENERAL RELEASE OF CLAIMS 

1.    _______________ (“Employee”), for himself and his family, heirs, executors, administrators, legal
representatives and their respective successors and assigns, in exchange for the consideration received pursuant to Section 5.[ ] of the Employment Agreement to which this release is attached as Exhibit C (the “Employment
Agreement”), does hereby release and forever discharge _____________________ (“Employer”), its subsidiaries, affiliated companies, successors and assigns, and its current or former directors, officers, employees,
shareholders or agents in such capacities (collectively with Employer, the “Released Parties”) from any and all actions, causes of action, suits, controversies, claims and demands whatsoever, for or by reason of any matter, cause or
thing whatsoever, whether known or unknown including, but not limited to, all claims under any applicable laws arising under or in connection with Employee’s employment or termination thereof, whether for discrimination, harassment,
retaliation, tort, breach of express or implied employment contract, wrongful discharge, intentional infliction of emotional distress, or defamation or injuries incurred on the job or incurred as a result of loss of employment. Employee acknowledges
that Employer encouraged him to consult with an attorney of his choosing, and through this General Release of Claims encourages Employee to consult with his attorney with respect to possible claims under the Age Discrimination in Employment Act
(“ADEA”) and that he understands that the ADEA is a Federal statute that, among other things, prohibits discrimination on the basis of age in employment and employee benefits and benefit plans. Without limiting the generality of the
release provided above, Employee expressly waives any and all claims under ADEA that he may have as of the date hereof. Employee further understands that by signing this General Release of Claims he is in fact waiving, releasing and forever giving
up any claim under the ADEA as well as all other laws within the scope of this paragraph 1 that may have existed on or prior to the date hereof. Notwithstanding anything in this paragraph 1 to the contrary, this General Release of Claims shall not
apply to (i) any actions to enforce rights to receive any payments or benefits which may be due Employee pursuant to Section 5.[    ] of the Employment Agreement, or under any of Employer’s employee benefit plans,
(ii) any rights or claims that may arise as a result of events occurring after the date this General Release of Claims is executed, (iii) any indemnification rights Employee may have as a former officer or director of Employer or its
subsidiaries or affiliated companies, (iv) any claims for benefits under any directors’ and officers’ liability policy maintained by Employer or its subsidiaries or affiliated companies in accordance with the terms of such policy, and
(v) any rights as a holder of equity securities of Employer. 
 2.    Employee represents that he has not filed
against the Released Parties any complaints, charges, or lawsuits arising out of his employment, or any other matter arising on or prior to the date of this General Release of Claims, and covenants and agrees that he will never individually or with
any person file, or commence the filing of, any charges, lawsuits, complaints or proceedings with any governmental agency, or against the Released Parties with respect to any of the matters released by Employee pursuant to paragraph 1 hereof (a
“Proceeding”). 
 3.    Notwithstanding anything in this Agreement to the contrary, nothing in this
Agreement or any other agreement between Employer and Employee shall prevent Employee from filing a charge, sharing information and communicating in good faith, without prior notice to the Company, with any federal government agency having
jurisdiction over the Company or its operations, and cooperating in any investigation by any such federal government agency; However, to the maximum extent permitted by law, Employee agrees that if such an administrative claim is made, Employee
shall not be entitled to recover any individual monetary relief or other individual remedies. 

  
 25 

 4.    Employee hereby acknowledges that Employer has informed him that
he has up to twenty-one (21) days to sign this General Release of Claims and he may knowingly and voluntarily waive that twenty-one (21) day period by signing
this General Release of Claims earlier. Employee also understands that he shall have seven (7) days following the date on which he signs this General Release of Claims within which to revoke it by providing a written notice of his revocation to
Employer. 
 5.    Employee acknowledges that this General Release of Claims will be governed by and construed and
enforced in accordance with the internal laws of the State of Florida applicable to contracts made and to be performed entirely within such State. 

6.    Employee acknowledges that he has read this General Release of Claims, that he has been advised that he should
consult with an attorney before he executes this general release of claims, and that he understands all of its terms and executes it voluntarily and with full knowledge of its significance and the consequences thereof. 

7.    This General Release of Claims shall take effect on the eighth day following Employee’s execution of this
General Release of Claims unless Employee’s written revocation is delivered to Employer within seven (7) days after such execution. 
  

			
		
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