Document:

astc-ex44_149.htm

Exhibit 4.4

PRE-FUNDED COMMON STOCK PURCHASE WARRANT

 

Astrotech Corporation

Warrant Shares: _______Issue Date:                 , 2020

Initial Exercise Date:                    , 2020

 

THIS PRE-FUNDED COMMON STOCK PURCHASE WARRANT (the “Warrant”) certifies that, for value received, _____________ or its assigns (the “Holder”) is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after the date set forth above (the “Initial Exercise Date”) and until this Warrant is exercised in full (the “Termination Date”) but not thereafter, to subscribe for and purchase from Astrotech Corporation, a Delaware corporation (the “Company”), up to ______ shares (as subject to adjustment hereunder, the “Warrant Shares”) of the Company’s Common Stock. The purchase price of one share of Common Stock under this Warrant shall be equal to the Exercise Price, as defined in Section 2(b).  

Section 1.Definitions.  In addition to the terms defined elsewhere in this Warrant, the following terms have the meanings indicated in this Section 1:

“Affiliate” means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control with a Person, as such terms are used in and construed under Rule 405 under the Securities Act.

“Bid Price” means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then listed or quoted on a Trading Market, the bid price of the Common Stock for the time in question (or the nearest preceding date) on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on a Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b)  if OTCQB or OTCQX is not a Trading Market, the volume weighted average price of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Common Stock are then reported on The Pink Open Market (or a similar organization or agency succeeding to its functions of reporting prices), the most recent bid price per share of the Common Stock so reported, or (d) in all other cases, the fair market value of a share of Common Stock as determined by an independent appraiser selected in good faith by the Holders of a majority in interest of the Warrants then outstanding and reasonably acceptable to the Company, the fees and expenses of which shall be paid by the Company.

“Commission” means the United States Securities and Exchange Commission.

“Common Stock” means the common stock of the Company, par value $0.001 per share, and any other class of securities into which such securities may hereafter be reclassified or changed.

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Exhibit 4.4

“Common Stock Equivalents” means any securities of the Company or the Subsidiaries which would entitle the holder thereof to acquire at any time shares of Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock.

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

“Person” means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

“Purchase Agreement” means that certain Securities Purchase Agreement, dated as of [___, 2020, by and among the Company and the purchasers signatory thereto.

“Registration Statement” means the Company’s registration statement on Form S-1 (File No. 333-239705), including the prospectus filed in connection with the transaction contemplated by the Purchase Agreement.

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

“Subsidiary” means the subsidiaries of the Company set forth on Exhibit 21.1 to the Registration Statement and shall, where applicable, also include any direct or indirect subsidiary of the Company formed or acquired after the date hereof.

“Trading Day” means a day on which the Common Stock is traded on a Trading Market.

“Trading Market” means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on the date in question: the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market or the New York Stock Exchange (or any successors to any of the foregoing).

“Transfer Agent” means American Stock Transfer & Trust Company, LLC, the current transfer agent of the Company, with a mailing address of 6201 15th Avenue, Brooklyn, NY 11219, and any successor transfer agent of the Company.

“VWAP” means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then listed or quoted on a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the nearest preceding date) on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on a Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b)  if OTCQB or OTCQX is not a Trading Market, the volume weighted average price of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Common Stock are then reported on The Pink Open Market (or a similar organization or agency succeeding to its functions of reporting prices), the most recent bid 

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price per share of the Common Stock so reported, or (d) in all other cases, the fair market value of a share of Common Stock as determined by an independent appraiser selected in good faith by the Holders of a majority in interest of the Warrants then outstanding and reasonably acceptable to the Company, the fees and expenses of which shall be paid by the Company.

“Warrants” means this Warrant and other Common Stock purchase warrants issued by the Company pursuant to the Registration Statement. 

Section 2.Exercise.

a)Exercise of Warrant.  Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times on or after the Initial Exercise Date and on or before the Termination Date by delivery to the Company of a duly executed facsimile copy or PDF copy submitted by e-mail (or e-mail attachment) of the Notice of Exercise in the form annexed hereto (the “Notice of Exercise”).  Within the earlier of (i) two (2) Trading Days and (ii) the number of Trading Days comprising the Standard Settlement Period (as defined in Section 2(d)(i) herein) following the date of exercise as aforesaid, the Holder shall deliver the aggregate Exercise Price for the Warrant Shares specified in the applicable Notice of Exercise by wire transfer or cashier’s check drawn on a United States bank unless the cashless exercise procedure specified in Section 2(c) below is specified in the applicable Notice of Exercise.  No ink-original Notice of Exercise shall be required, nor shall any medallion guarantee (or other type of guarantee or notarization) of any Notice of Exercise be required.  Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company until the Holder has purchased all of the Warrant Shares available hereunder and the Warrant has been exercised in full, in which case, the Holder shall surrender this Warrant to the Company for cancellation within three (3) Trading Days of the date on which the final Notice of Exercise is delivered to the Company. Partial exercises of this Warrant resulting in purchases of a portion of the total number of Warrant Shares available hereunder shall have the effect of lowering the outstanding number of Warrant Shares purchasable hereunder in an amount equal to the applicable number of Warrant Shares purchased.  The Holder and the Company shall maintain records showing the number of Warrant Shares purchased and the date of such purchases. The Company shall deliver any objection to any Notice of Exercise within one (1) Trading Day of receipt of such notice.  The Holder and any assignee, by acceptance of this Warrant, acknowledge and agree that, by reason of the provisions of this paragraph, following the purchase of a portion of the Warrant Shares hereunder, the number of Warrant Shares available for purchase hereunder at any given time may be less than the amount stated on the face hereof.

b)Exercise Price.  The aggregate exercise price of this Warrant, except for a nominal exercise price of $0.001 per Warrant, was pre-funded to the Company on or prior to the Initial Exercise Date and, consequently, no additional consideration (other than the nominal exercise price of $0.001 per Warrant) shall be required to be paid by the Holder to any Person to effect any exercise of this Warrant.  The Holder shall not be entitled to the return or refund of all, or any portion, of such pre-paid aggregate exercise price under any circumstance or for any reason whatsoever, including in the event this Warrant shall not 

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have been exercised prior to the Termination Date. The remaining unpaid exercise price per share of Common Stock under this Warrant shall be $0.001, subject to adjustment hereunder (the “Exercise Price”).

c)Cashless Exercise. This Warrant may also be exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

(A) = as applicable: (i) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise if such Notice of Exercise is (1) both executed and delivered pursuant to Section 2(a) hereof on a day that is not a Trading Day or (2) both executed and delivered pursuant to Section 2(a) hereof on a Trading Day prior to the opening of “regular trading hours” (as defined in Rule 600(b)(68) of Regulation NMS promulgated under the federal securities laws) on such Trading Day, (ii) at the option of the Holder, either (y) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise or (z) the Bid Price of the Common Stock on the principal Trading Market as reported by Bloomberg L.P. as of the time of the Holder’s execution of the applicable Notice of Exercise if such Notice of Exercise is executed during “regular trading hours” on a Trading Day and is delivered within two (2) hours thereafter (including until two (2) hours after the close of “regular trading hours” on a Trading Day) pursuant to Section 2(a) hereof or (iii) the VWAP on the date of the applicable Notice of Exercise if the date of such Notice of Exercise is a Trading Day and such Notice of Exercise is both executed and delivered pursuant to Section 2(a) hereof after the close of “regular trading hours” on such Trading Day;

 

(B) = the Exercise Price of this Warrant, as adjusted hereunder; and 

 

(X) = the number of Warrant Shares that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant if such exercise were by means of a cash exercise rather than a cashless exercise.

 

If Warrant Shares are issued in such a cashless exercise, the parties acknowledge and agree that in accordance with Section 3(a)(9) of the Securities Act, the Warrant Shares shall take on the registered characteristics of the Warrants being exercised.  The Company agrees not to take any position contrary to this Section 2(c).

d)Mechanics of Exercise. 

i.Delivery of Warrant Shares Upon Exercise.  The Company shall cause the Warrant Shares purchased hereunder to be transmitted by the Transfer Agent to the Holder by crediting the account of the Holder’s or its designee’s balance account with The Depository Trust Company through its Deposit or Withdrawal at Custodian system (“DWAC”) if the Company is then a participant in such system and either (A) there is an effective 

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Exhibit 4.4

registration statement permitting the issuance of the Warrant Shares to or resale of the Warrant Shares by the Holder or (B) this Warrant is being exercised via cashless exercise, and otherwise by physical delivery of a certificate, registered in the Company’s share register in the name of the Holder or its designee, for the number of Warrant Shares to which the Holder is entitled pursuant to such exercise to the address specified by the Holder in the Notice of Exercise by the date that is the earliest of (i) two (2) Trading Days after the delivery to the Company of the Notice of Exercise, (ii) one (1) Trading Day after delivery of the aggregate Exercise Price to the Company and (iii) the number of Trading Days comprising the Standard Settlement Period after the delivery to the Company of the Notice of Exercise (such date, the “Warrant Share Delivery Date”). Upon delivery of the Notice of Exercise, the Holder shall be deemed for all corporate purposes to have become the holder of record of the Warrant Shares with respect to which this Warrant has been exercised, irrespective of the date of delivery of the Warrant Shares, provided that payment of the aggregate Exercise Price (other than in the case of a cashless exercise) is received by the Warrant Share Delivery Date.  If the Company fails for any reason to deliver to the Holder the Warrant Shares subject to a Notice of Exercise by the Warrant Share Delivery Date, the Company shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of Warrant Shares subject to such exercise (based on the VWAP of the Common Stock on the date of the applicable Notice of Exercise), $10 per Trading Day (increasing to $20 per Trading Day on the fifth Trading Day after such liquidated damages begin to accrue) for each Trading Day after such Warrant Share Delivery Date until such Warrant Shares are delivered or Holder rescinds such exercise. The Company agrees to maintain a transfer agent that is a participant in the FAST program so long as this Warrant remains outstanding and exercisable. As used herein, “Standard Settlement Period” means the standard settlement period, expressed in a number of Trading Days, on the Company’s primary Trading Market with respect to the Common Stock as in effect on the date of delivery of the Notice of Exercise. Notwithstanding the foregoing, with respect to any Notice(s) of Exercise delivered on or prior to 12:00 p.m. (New York City time) on the Initial Exercise Date, which may be delivered at any time after the time of execution of the Purchase Agreement, the Company agrees to deliver the Warrant Shares subject to such notice(s) by 4:00 p.m. (New York City time) on the Initial Exercise Date and the Initial Exercise Date shall be the Warrant Share Delivery Date for purposes hereunder.

ii.Delivery of New Warrants Upon Exercise.  If this Warrant shall have been exercised in part, the Company shall, at the request of a Holder and upon surrender of this Warrant certificate, at the time of delivery of the Warrant Shares, deliver to the Holder a new Warrant evidencing the rights of the Holder to purchase the unpurchased Warrant Shares called for by this Warrant, which new Warrant shall in all other respects be identical with this Warrant.

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Exhibit 4.4

iii.Rescission Rights.  If the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares pursuant to Section 2(d)(i) by the Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise.

iv.Compensation for Buy-In on Failure to Timely Deliver Warrant Shares Upon Exercise.  In addition to any other rights available to the Holder, if the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares in accordance with the provisions of Section 2(d)(i) above pursuant to an exercise on or before the Warrant Share Delivery Date, and if after such date the Holder is required by its broker to purchase (in an open market transaction or otherwise) or the Holder’s brokerage firm otherwise purchases, shares of Common Stock to deliver in satisfaction of a sale by the Holder of the Warrant Shares which the Holder anticipated receiving upon such exercise (a “Buy-In”), then the Company shall (A) pay in cash to the Holder the amount, if any, by which (x) the Holder’s total purchase price (including brokerage commissions, if any) for the shares of Common Stock so purchased exceeds (y) the amount obtained by multiplying (1) the number of Warrant Shares that the Company was required to deliver to the Holder in connection with the exercise at issue times (2) the price at which the sell order giving rise to such purchase obligation was executed, and (B) at the option of the Holder, either reinstate the portion of the Warrant and equivalent number of Warrant Shares for which such exercise was not honored (in which case such exercise shall be deemed rescinded) or deliver to the Holder the number of shares of Common Stock that would have been issued had the Company timely complied with its exercise and delivery obligations hereunder.  For example, if the Holder purchases Common Stock having a total purchase price of $11,000 to cover a Buy-In with respect to an attempted exercise of shares of Common Stock with an aggregate sale price giving rise to such purchase obligation of $10,000, under clause (A) of the immediately preceding sentence the Company shall be required to pay the Holder $1,000. The Holder shall provide the Company written notice indicating the amounts payable to the Holder in respect of the Buy-In and, upon request of the Company, evidence of the amount of such loss.  Nothing herein shall limit a Holder’s right to pursue any other remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Company’s failure to timely deliver shares of Common Stock upon exercise of the Warrant as required pursuant to the terms hereof.

v.No Fractional Shares or Scrip.  No fractional shares or scrip representing fractional shares shall be issued upon the exercise of this Warrant.  As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such exercise, the Company shall, at its election, either pay a cash adjustment in respect of such final fraction in an 

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amount equal to such fraction multiplied by the Exercise Price or round up to the next whole share.

vi.Charges, Taxes and Expenses.  Issuance of Warrant Shares shall be made without charge to the Holder for any issue or transfer tax or other incidental expense in respect of the issuance of such Warrant Shares, all of which taxes and expenses shall be paid by the Company, and such Warrant Shares shall be issued in the name of the Holder or in such name or names as may be directed by the Holder; provided, however, that in the event that Warrant Shares are to be issued in a name other than the name of the Holder, this Warrant when surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly executed by the Holder and the Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental thereto.  The Company shall pay all Transfer Agent fees required for same-day processing of any Notice of Exercise and all fees to the Depository Trust Company (or another established clearing corporation performing similar functions) required for same-day electronic delivery of the Warrant Shares.

vii.Closing of Books.  The Company will not close its stockholder books or records in any manner which prevents the timely exercise of this Warrant, pursuant to the terms hereof.

e)Holder’s Exercise Limitations.    The Company shall not effect any exercise of this Warrant, and a Holder shall not have the right to exercise any portion of this Warrant, pursuant to Section 2 or otherwise, to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below).  For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise of this Warrant with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be issuable upon (i) exercise of the remaining, nonexercised portion of this Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or nonconverted portion of any other securities of the Company (including, without limitation, any other  Common Stock Equivalents) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties.  Except as set forth in the preceding sentence, for purposes of this Section 2(e), beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith.   To the extent that the limitation contained in this Section 2(e) applies, the determination of 

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whether this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of this Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of this Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination.   In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder.  For purposes of this Section 2(e), in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may be, (B) a more recent public announcement by the Company or (C) a more recent written notice by the Company or the Transfer Agent setting forth the number of shares of Common Stock outstanding.  Upon the written or oral request of a Holder, the Company shall within one (1) Trading Day confirm orally and in writing to the Holder the number of shares of Common Stock then outstanding.  In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including this Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported.  The “Beneficial Ownership Limitation” shall be [4.99%/9.99%] of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise of this Warrant.  The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 2(e), provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 2(e) shall continue to apply.  Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company.  The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 2(e) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrant.

Section 3.Certain Adjustments.

a)Stock Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (i) pays a stock dividend or otherwise makes a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities payable in shares of Common Stock (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Company upon exercise of this Warrant), (ii) subdivides outstanding shares of Common Stock into a larger number of shares, (iii) combines (including by way of reverse stock split) outstanding shares of Common Stock into a 

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smaller number of shares, or (iv) issues by reclassification of shares of the Common Stock any shares of capital stock of the Company, then in each case the Exercise Price shall be multiplied by a fraction of which the numerator shall be the number of shares of Common Stock (excluding treasury shares, if any) outstanding immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding immediately after such event, and the number of shares issuable upon exercise of this Warrant shall be proportionately adjusted such that the aggregate Exercise Price of this Warrant shall remain unchanged.  Any adjustment made pursuant to this Section 3(a) shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution and shall become effective immediately after the effective date in the case of a subdivision, combination or re‐classification.

b)Subsequent Rights Offerings.  In addition to any adjustments pursuant to Section 3(a) above, if at any time the Company grants, issues or sells any Common Stock Equivalents or rights to purchase stock, warrants, securities or other property pro rata to the record holders of any class of shares of Common Stock (the “Purchase Rights”), then the Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights (provided, however, that to the extent that the Holder’s right to participate in any such Purchase Right would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Purchase Right to such extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance for the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation). 

c)Pro Rata Distributions.  During such time as this Warrant is outstanding, if the Company shall declare or make any dividend or other distribution of its assets (or rights to acquire its assets) to holders of shares of Common Stock, by way of return of capital or otherwise (including, without limitation, any distribution of cash, stock or other securities, property or options by way of a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a “Distribution”), at any time after the issuance of this Warrant, then, in each such case, the Holder shall be entitled to participate in such Distribution to the same extent that the Holder would have participated therein if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date of which a record is taken for such Distribution, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the participation in such Distribution (provided, however, that to the extent that the Holder's right to participate in any such Distribution would result in the 

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Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Distribution to such extent (or in the beneficial ownership of any shares of Common Stock as a result of such Distribution to such extent) and the portion of such Distribution shall be held in abeyance for the benefit of the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).  

d)Fundamental Transaction. If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in one or more related transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company (and all of its Subsidiaries, taken as a whole), directly or indirectly, effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially all of its assets in one or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange offer (whether by the Company or another Person) is completed pursuant to which holders of Common Stock are permitted to sell, tender or exchange their shares for other securities, cash or property and has been accepted by the holders of 50% or more of the outstanding Common Stock, (iv) the Company, directly or indirectly, in one or more related transactions effects any reclassification, reorganization or recapitalization of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted into or exchanged for other securities, cash or property, or (v) the Company, directly or indirectly, in one or more related transactions consummates a stock or share purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization, spin-off, merger or scheme of arrangement) with another Person or group of Persons whereby such other Person or group acquires more than 50% of the outstanding shares of Common Stock (not including any shares of Common Stock held by the other Person or other Persons making or party to, or associated or affiliated with the other Persons making or party to, such stock or share purchase agreement or other business combination) (each a “Fundamental Transaction”), then, upon any subsequent exercise of this Warrant, the Holder shall have the right to receive, for each Warrant Share that would have been issuable upon such exercise immediately prior to the occurrence of such Fundamental Transaction, at the option of the Holder (without regard to any limitation in Section 2(e) on the exercise of this Warrant), the number of shares of Common Stock of the successor or acquiring corporation or of the Company, if it is the surviving corporation, and any additional consideration (the “Alternate Consideration”) receivable as a result of such Fundamental Transaction by a holder of the number of shares of Common Stock for which this Warrant is exercisable immediately prior to such Fundamental Transaction (without regard to any limitation in Section 2(e) on the exercise of this Warrant).  For purposes of any such exercise, the determination of the Exercise Price shall be appropriately adjusted to apply to such Alternate Consideration based on the amount of Alternate Consideration issuable in respect of one share of Common Stock in such Fundamental Transaction, and the Company shall apportion the Exercise Price among the Alternate Consideration in a reasonable manner reflecting the relative value of any different components of the Alternate Consideration.  If holders of Common Stock are given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the Holder shall be given the same choice as to the Alternate Consideration it receives upon any exercise of this Warrant following such Fundamental Transaction. The Company shall 

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Exhibit 4.4

cause any successor entity in a Fundamental Transaction in which the Company is not the survivor (the “Successor Entity”) to assume in writing all of the obligations of the Company under this Warrant and the other Transaction Documents in accordance with the provisions of this Section 3(e) pursuant to written agreements in form and substance reasonably satisfactory to the Holder and approved by the Holder (without unreasonable delay) prior to such Fundamental Transaction and shall, at the option of the Holder, deliver to the Holder in exchange for this Warrant a security of the Successor Entity evidenced by a written instrument substantially similar in form and substance to this Warrant which is exercisable for a corresponding number of shares of capital stock of such Successor Entity (or its parent entity) equivalent to the shares of Common Stock acquirable and receivable upon exercise of this Warrant (without regard to any limitations on the exercise of this Warrant) prior to such Fundamental Transaction, and with an exercise price which applies the exercise price hereunder to such shares of capital stock (but taking into account the relative value of the shares of Common Stock pursuant to such Fundamental Transaction and the value of such shares of capital stock, such number of shares of capital stock and such exercise price being for the purpose of protecting the economic value of this Warrant immediately prior to the consummation of such Fundamental Transaction), and which is reasonably satisfactory in form and substance to the Holder. Upon the occurrence of any such Fundamental Transaction, the Successor Entity shall succeed to, and be substituted for (so that from and after the date of such Fundamental Transaction, the provisions of this Warrant and the other Transaction Documents referring to the “Company” shall refer instead to the Successor Entity), and may exercise every right and power of the Company and shall assume all of the obligations of the Company under this Warrant and the other Transaction Documents with the same effect as if such Successor Entity had been named as the Company herein. 

e)Calculations. All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be. For purposes of this Section 3, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall be the sum of the number of shares of Common Stock (excluding treasury shares, if any) issued and outstanding.

f)Notice to Holder.  

i.Adjustment to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the Company shall promptly deliver to the Holder by facsimile or email a notice setting forth the Exercise Price after such adjustment and any resulting adjustment to the number of Warrant Shares and setting forth a brief statement of the facts requiring such adjustment. 

ii.Notice to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the Company shall authorize the granting to all holders of the Common Stock rights or warrants to subscribe for or purchase any shares of capital stock of any class or of 

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Exhibit 4.4

any rights, (D) the approval of any stockholders of the Company shall be required in connection with any reclassification of the Common Stock, any consolidation or merger to which the Company is a party, any sale or transfer of all or substantially all of the assets of the Company, or any compulsory share exchange whereby the Common Stock is converted into other securities, cash or property, or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company, then, in each case, the Company shall cause to be delivered by facsimile or email to the Holder at its last facsimile number or email address as it shall appear upon the Warrant Register of the Company, at least 20 calendar days prior to the applicable record or effective date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the purpose of such dividend, distribution, redemption, rights or warrants, or if a record is not to be taken, the date as of which the holders of the Common Stock of record to be entitled to such dividend, distributions, redemption, rights or warrants are to be determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer or share exchange is expected to become effective or close, and the date as of which it is expected that holders of the Common Stock of record shall be entitled to exchange their shares of the Common Stock for securities, cash or other property deliverable upon such reclassification, consolidation, merger, sale, transfer or share exchange; provided that the failure to deliver such notice or any defect therein or in the delivery thereof shall not affect the validity of the corporate action required to be specified in such notice.  To the extent that any notice provided in this Warrant constitutes, or contains, material, non-public information regarding the Company or any of the Subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant to a Current Report on Form 8-K.  The Holder shall remain entitled to exercise this Warrant during the period commencing on the date of such notice to the effective date of the event triggering such notice except as may otherwise be expressly set forth herein.

Section 4.Transfer of Warrant.

a)Transferability.  This Warrant and all rights hereunder (including, without limitation, any registration rights) are transferable, in whole or in part, upon surrender of this Warrant at the principal office of the Company or its designated agent, together with a written assignment of this Warrant substantially in the form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable upon the making of such transfer.  Upon such surrender and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants in the name of the assignee or assignees, as applicable, and in the denomination or denominations specified in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant shall promptly be cancelled.  Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company unless the Holder has assigned this Warrant in full, in which case, the Holder shall surrender this Warrant to the Company 

12

Exhibit 4.4

within three (3) Trading Days of the date on which the Holder delivers an assignment form to the Company assigning this Warrant in full.  The Warrant, if properly assigned in accordance herewith, may be exercised by a new holder for the purchase of Warrant Shares without having a new Warrant issued.  

b)New Warrants. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by the Holder or its agent or attorney.  Subject to compliance with Section 4(a), as to any transfer which may be involved in such division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined in accordance with such notice. All Warrants issued on transfers or exchanges shall be dated the Issue Date of this Warrant and shall be identical with this Warrant except as to the number of Warrant Shares issuable pursuant thereto. 

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

Section 5.Miscellaneous.

a)No Rights as Stockholder Until Exercise; No Settlement in Cash.  This Warrant does not entitle the Holder to any voting rights, dividends or other rights as a stockholder of the Company prior to the exercise hereof as set forth in Section 2(d)(i), except as expressly set forth in Section 3.  Without limiting any rights of a Holder to receive Warrant Shares on a “cashless exercise” pursuant to Section 2(c) or to receive cash payments pursuant to Section 2(d)(i) and Section 2(d)(iv) herein, in no event shall the Company be required to net cash settle an exercise of this Warrant.  

b)Loss, Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant Shares, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case of the Warrant, shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate, if mutilated, the Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation, in lieu of such Warrant or stock certificate.

c)Saturdays, Sundays, Holidays, etc.  If the last or appointed day for the taking of any action or the expiration of any right required or granted herein shall not be a Trading Day, then, such action may be taken or such right may be exercised on the next succeeding Trading Day.

d)Authorized Shares.  

13

Exhibit 4.4

The Company covenants that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued Common Stock a sufficient number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights under this Warrant.  The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers who are charged with the duty of issuing the necessary Warrant Shares upon the exercise of the purchase rights under this Warrant.  The Company will take all such reasonable action as may be necessary to assure that such Warrant Shares may be issued as provided herein without violation of any applicable law or regulation, or of any requirements of the Trading Market upon which the Common Stock may be listed.  The Company covenants that all Warrant Shares which may be issued upon the exercise of the purchase rights represented by this Warrant will, upon exercise of the purchase rights represented by this Warrant and payment for such Warrant Shares in accordance herewith, be duly authorized, validly issued, fully paid and nonassessable and free from all taxes, liens and charges created by the Company in respect of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously with such issue).  

Except and to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amending its certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against impairment.  Without limiting the generality of the foregoing, the Company will (i) not increase the par value of any Warrant Shares above the amount payable therefor upon such exercise immediately prior to such increase in par value, (ii) take all such action as may be necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant and (iii) use commercially reasonable efforts to obtain all such authorizations, exemptions or consents from any public regulatory body having jurisdiction thereof, as may be, necessary to enable the Company to perform its obligations under this Warrant.

Before taking any action which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or in the Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary from any public regulatory body or bodies having jurisdiction thereof.

e)Jurisdiction. All questions concerning the construction, validity, enforcement and interpretation of this Warrant 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 

14

Exhibit 4.4

by this Warrant (whether brought against a party hereto or their respective affiliates, directors, officers, shareholders, partners, members, 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, 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. Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Warrant and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted by law. If either party shall commence an action, suit or proceeding to enforce any provisions of this Warrant, the prevailing party in such action, suit or proceeding shall be reimbursed by the other party for their reasonable attorneys’ fees and other costs and expenses incurred with the investigation, preparation and prosecution of such action or proceeding.  

f)Restrictions.  The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered, and the Holder does not utilize cashless exercise, will have restrictions upon resale imposed by state and federal securities laws.

g)Nonwaiver and Expenses.  No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate as a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies.  Without limiting any other provision of this Warrant, if the Company willfully and knowingly fails to comply with any provision of this Warrant, which results in any material damages to the Holder, the Company shall pay to the Holder such amounts as shall be sufficient to cover any costs and expenses including, but not limited to, reasonable attorneys’ fees, including those of appellate proceedings, incurred by the Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder.

h)Notices.  Any and all notices or other communications or deliveries to be provided by the holders hereunder including, without limitation, any Notice of Exercise, shall be in writing and delivered personally, by facsimile or e-mail, or sent by a nationally recognized overnight courier service, addressed to the Company, at [__], Attention: [___], email address: [___], facsimile: [__], or such other facsimile number, email address or address as the Company may specify for such purposes by notice to the Holders. Any and all notices or other communications or deliveries to be provided by the Company hereunder shall be in writing and delivered personally, by facsimile or e-mail, or sent by a nationally recognized overnight courier service addressed to each Holder at the facsimile number, e-mail address or address of such Holder appearing on the books of the Company. Any notice or other communication or deliveries hereunder shall be deemed given and effective on the earliest of (i) the time of transmission, if such notice or communication is delivered via 

15

Exhibit 4.4

facsimile at the facsimile number or via e-mail at the e-mail address set forth in this Section prior to 5:30 p.m. (New York City time) on any date, (ii) the next Trading Day after the time of transmission, if such notice or communication is delivered via facsimile at the facsimile number or via e-mail at the e-mail address set forth in this Section on a day that is not a Trading Day or later than 5:30 p.m. (New York City time) on any Trading Day, (iii) the second Trading Day following the date of mailing, if sent by U.S. nationally recognized overnight courier service, or (iv) upon actual receipt by the party to whom such notice is required to be given. To the extent that any notice provided hereunder constitutes, or contains, material, non-public information regarding the Company or any subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant to a Current Report on Form 8-K.

i)Limitation of Liability.  No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant to purchase Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the Holder for the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by the Company or by creditors of the Company.

j)Remedies.  The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled to specific performance of its rights under this Warrant.  The Company agrees that monetary damages would not be adequate compensation for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to assert the defense in any action for specific performance that a remedy at law would be adequate.

k)Successors and Assigns.  Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall inure to the benefit of and be binding upon the successors and permitted assigns of the Company and the successors and permitted assigns of Holder.  The provisions of this Warrant are intended to be for the benefit of any Holder from time to time of this Warrant and shall be enforceable by the Holder or holder of Warrant Shares.

l)Amendment.  This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company, on the one hand, and the Holder of this Warrant, on the other hand.

m)Severability.  Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions of this Warrant.

n)Headings.  The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of this Warrant.

 

16

Exhibit 4.4

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

 

(Signature Page Follows)

17

Exhibit 4.4

 

IN WITNESS WHEREOF, the Company has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first above indicated.

 

  

	
	
Astrotech Corporation

 

 

	
By:__________________________________________

     Name:

     Title:

 

 

 

 

18

 

 

NOTICE OF EXERCISE

 

To:Astrotech Corporation

 

(1)The undersigned hereby elects to purchase ________ Warrant Shares of the Company pursuant to the terms of the attached Warrant (only if exercised in full), and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes, if any.

(2)Payment shall take the form of (check applicable box):

[  ] in lawful money of the United States; or

[  ] if permitted the cancellation of such number of Warrant Shares as is necessary, in accordance with the formula set forth in subsection 2(c), to exercise this Warrant with respect to the maximum number of Warrant Shares purchasable pursuant to the cashless exercise procedure set forth in subsection 2(c).

(3)Please issue said Warrant Shares in the name of the undersigned or in such other name as is specified below:

_______________________________

 

 

The Warrant Shares shall be delivered to the following DWAC Account Number:

 

_______________________________

 

_______________________________

 

_______________________________

 

 

 

[SIGNATURE OF HOLDER]

 

Name of Investing Entity: ________________________________________________________________________

Signature of Authorized Signatory of Investing Entity: _________________________________________________

Name of Authorized Signatory: ___________________________________________________________________

Title of Authorized Signatory: ____________________________________________________________________

Date: ________________________________________________________________________________________

 

 

 

 

 

EXHIBIT B

 

 

ASSIGNMENT FORM

 (To assign the foregoing Warrant, execute this form and supply required information.  Do not use this form to exercise the Warrant to purchase shares.)

FOR VALUE RECEIVED, the foregoing Warrant and all rights evidenced thereby are hereby assigned to

		
	
Name:
	
 

	
 
	
(Please Print)

	
Address:
	
 

	
 

Phone Number:

Email Address: 
	
(Please Print)

______________________________________

______________________________________

	
Dated: _______________ __, ______
	
 

	
Holder’s Signature:
	
 

	
Holder’s Address:phr2020731ex102

      FIRST AMENDMENT TO THE STRATEGIC ALLIANCE AGREEMENT         This First Amendment to the Strategic Alliance Agreement (this “First Amendment”) is  entered into as of July 1, 2020 (the “First Amendment Effective Date”), by and between  Phreesia, Inc., a Delaware corporation (“Phreesia”), and Allscripts Healthcare, LLC, a North  Carolina limited liability company (“Allscripts”).  Phreesia and Allscripts shall each be referred  to as “Party” and collectively as “Parties.”                                    RECITALS         WHEREAS, Phreesia and Allscripts entered into that certain Strategic Alliance  Agreement, dated December 10, 2015 (the “Agreement”); and         WHEREAS, the Parties wish to modify the Agreement, as set forth herein.         NOW, THEREFORE, in consideration of the mutual promises contained in this First  Amendment, Phreesia and Allscripts hereby agree as follows:    1. Defined Terms.  All capitalized words and terms used herein that are not otherwise defined     herein shall have the meanings assigned to such words and terms in the Agreement, except     that after the First Amendment Effective Date, the term “Agreement” shall mean the     Agreement as amended by this First Amendment.   2. Amendments.        2.1.  Section 2.7(c) of the Agreement, which covers exceptions to Section 5 (Exclusivity),          is deleted and replaced in its entirety with the following:         [intentionally left blank]        2.2.  Section 5 (Exclusivity) of the Agreement is deleted and replaced in its entirety with          the following:        [intentionally left blank]        2.3.  Section 6 (FollowMyHealth) of the Agreement is deleted and replaced in its entirety          with the following:        [intentionally left blank]        2.4.  Section 14.6 (Right of First Offer) of the Agreement is deleted and replaced in its          entirety with the following:        [intentionally left blank]        2.5.  Section 24.1 of the Agreement is hereby deleted and replaced in its entirety with the          following:                                               

 

 “Term. The initial term of this Agreement commenced on the Effective Date and will   continue in effect until June 30, 2025 (the “Initial Term”) unless terminated earlier   pursuant to Section 25.”   2.6.  Section 25.1 of the Agreement is hereby deleted and replaced in its entirety with the     following:    Termination for Convenience.  Either party may terminate this Agreement, at any time   and without cause, upon one (1) year’s prior written notice to the other party.   2.7.  Section 25.7(a) is deleted and replaced in its entirety with the following:    (a) The expiration or termination of this Agreement will not have the effect of   terminating any Customer Agreement, Merchant Agreement (or the licenses to the   Installed Software or Subscription Software Services distributed thereunder) or   agreement directly between Phreesia and a customer for PIMS (each a “Direct PIMS   Agreement”) entered into prior to the effective date of the expiration or termination of   this Agreement, provided that each of Allscripts and Phreesia will exercise their rights to   prevent their respective Customer Agreements, Merchant Agreements or Direct PIMS   Agreements from automatically renewing, except that for two (2) years following any   such expiration or termination, any such customers may extend their Customer   Agreement for up to the second anniversary of the date of such expiration or termination.   The Company will continue to honor commitments made under the terms and conditions   of each such Customer Agreement, Merchant Agreement or Direct PIMS Agreement, and   will continue to provide Services to any such customers for the full duration of each such   Customer Agreement, Merchant Agreement or Direct PIMS Agreement, and Allscripts   will continue to make Unity available to Company pursuant to the Unity Fees section of   Exhibit F hereto to support any such customers. Allscripts and Company will each   continue to make payments to the other with respect to each such Customer Agreement   and Merchant Agreement in accordance with this Agreement.      2.8.  Section 27.1 is deleted and replaced in its entirety with the following:    27.1 Survival. The provisions of Sections 1, 2.5-2.7, 8.4-8.6, 8.8, 16.8, 18-25, 27, and 28   and Exhibit E (Business Associate Agreement), Exhibit F (Buy Rates and Revenue   Share) and Exhibit H (Legacy Customers) will survive and continue after the expiration   or termination of this Agreement indefinitely. The provisions of the Restated Developer   Agreement set forth in its “Survival” provision will survive the expiration or termination   of the Restated Developer Agreement or this Agreement indefinitely.  The provisions of   Sections 2.1(c)-(d), 2.3, 4.2, 4.3, 8.1-8.3, 8.7, 10, 11.3, and 12-17 (excluding Sections   14.4 and 17.4, each of which will survive for the duration set forth therein; and Sections   16.1 and 16.8), Exhibit C (Services) and Exhibit D (Service Level Agreement) will   survive and continue after the expiration or termination of this Agreement for the full   duration of any Customer Agreement. In addition, the rights and obligations of any Party   which, by their nature, extend beyond the expiration or termination of this Agreement   will continue in full force and effect notwithstanding the termination of this Agreement.                                    2                

 

2.9.  Section 28.4 is deleted and replaced in its entirety with the following:    Assignment. Neither Party may assign or otherwise transfer any of its rights, or delegate   or otherwise transfer any of its obligations or performance, under this Agreement, in each   case whether voluntarily or involuntarily, without the other Party’s prior written consent,   which will not be unreasonably withheld, conditioned, or delayed. Any assignment,   delegation, or other transfer without such prior written consent will be null and void.     Notwithstanding the foregoing (and subject to Section 25 and 26), either Party may at no   additional cost to such Party, for any acquisition, merger, consolidation, reorganization or   similar transaction, or any spin-off, sale, divestiture or other separation of all or  substantially all of one or more businesses, divisions or product lines of a Party, assign  this Agreement and/or the Restated Developer Agreement without the other Party’s   written consent.  Upon any assignment of the Restated Developer Agreement separate   from this Agreement pursuant to the preceding sentence, the Restated Developer   Agreement would be further restated to incorporate those terms and exhibits from the   Agreement that are applicable to the Restated Developer Agreement.  This Agreement is   binding upon and inures to the benefit of the Parties and their respective permitted   successors and assigns.  Each Party will promptly give the other Party notice promptly   following any permitted assignment of this Agreement or the Restated Developer   Agreement for which it did not require the consent of the other Party.   2.10.  Exhibit F Section a(i) is deleted and replaced in its entirety with the following:    i.  Payments for Eligibility and Benefits Services    For E&B Transactions processed (1) for Sublicensed Customers through the Eligibility   UI or POS Dashboard and (2) for Allscripts Practice Management or Payerpath   customers that previously entered into an agreement with Allscripts for Eligibility and   Benefit Services, other eligibility and benefit verification services, or POS Dashboard but   converted to the Phreesia Patient Intake Management Offering, the fees payable by  Allscripts to Phreesia shall be as set forth in the table immediately below beginning on   the First Amendment Effective Date.  There will be no fees payable by Allscripts to   Phreesia for E&B Transactions processed for Allscripts Customers through the Phreesia   Patient Intake Management Offering for Allscripts Customers that have not previously   entered into an agreement for Eligibility and Benefit Services, other eligibility and   benefit verification services, or POS Dashboard and such E&B Transactions will not   count towards the volume thresholds in the table immediately below.  Except for the   E&B Transaction fees in the table immediately below, Phreesia will provide the   Eligibility and Benefits Services and the Eligibility UI without charge.  From time to   time, Phreesia may charge Allscripts new third-party payer fees that such payers first  charge after the First Amendment Effective Date and that Phreesia generally passes  through to its eligibility and verification service customers.  Phreesia shall provide  Allscripts with at least 60 days advance notice before charging Allscripts for any such  fee, which notice shall be accompanied by reasonably detailed supporting documentation  for such fee increase.                                     3                

 

                         Cost per E&B Transaction to                           Allscripts                               (A) $0.02 per transaction if at least                                 2.0 million eligibility transactions                                 are processed with the Company                                 for such month; or                               (B) $0.04 per transaction if less than                                 2.0 million eligibility transactions                                 are processed with the Company                                 for such month           2.11.  Exhibit F Section (a)(ii) is deleted and replaced in its entirety with the following:         ii. Payments and Pricing for POS Dashboard                 Allscripts will pay Company $10.00 per month for each Clinician authorized to use POS        Dashboard.        2.12.  Exhibit F Section (b)(i) is deleted and replaced in its entirety with the following:         i. Payments and Pricing for Merchant Processing Services                 Merchant Processing Service rates under this Agreement will be charged to the        Sublicensed Customers using Merchant Processing Services at no less than 2.49% +        $0.25 per payment transaction for card present transactions and no less than 2.99% +        $0.25 per transaction for card not present transactions, provided that Allscripts may        decrease such pricing after consultation with and written approval from Company if it        reasonably determines that such pricing is not competitive in the market for these        services, provided that Company will only withhold such approval if it reasonably        demonstrates that its pricing is competitive in the market for these services.   Phreesia        will provide credit and debit card reader hardware to Allscripts and/or Sublicensed        Customers at cost.              Company will pay Allscripts the revenue share percentage of Net Merchant Processing        Services Revenues according to the table below:                                       Percent Paid to Allscripts  Percent Retained by                                                               Company   For Allscripts Practice              5%                        95%  Management Customers that (1)                                          4   

 

are not already contracting with  or through Allscripts for  merchant processing services  through Allscripts Patient  Payment Assurance* and (2) that  first contract for PIMS Offering   with initial terms beginning after  the Effective Date and before the  earlier of (i) the completion of  the Company’s responsibilities  with respect to POS Dashboard  in the Integration Specification  or (ii) October 1, 2016, Net  Merchant Processing Services  Revenues from transactions  processed through PIMS will be  split as follows:   For Allscripts Practice              25%                       75%  Management Customers that (1)  are already contracting with or  through Allscripts for merchant  processing service through  Allscripts Patient Payment  Assurance* or (2) first contract  for PIMS with initial terms or  renewal terms beginning  on or  after the earlier of (a) (i) the  completion of the Company’s  responsibilities with respect to  POS Dashboard in the  Integration Specification or (ii)  October 1, 2016 and (b) before  the First Amendment Effective  Date, Net Merchant Processing  Services Revenues from  transactions processed through  PIMS will be split as follows:   For Merchant Processing              50%                       50%  Services not provided through  PIMS for which Allscripts  Customers first contract before  the First Amendment Effective  Date, Net Merchant Processing  Services Revenues will be split  as follows:                                         5   

 

For Merchant Processing              60%                       40%  Services not provided through  PIMS for which Allscripts  Customers first contract on or  after the First Amendment  Effective Date, Net Merchant  Processing Services Revenues  will be split as follows:                   For Allscripts Practice              0%                       100%  Management Customers that  first contract for PIMS with  initial terms beginning on or  after the First Amendment  Effective Date, Net Merchant  Processing Services Revenues  from transactions processed  through PIMS will be split as  follows:                 “Net Merchant Processing Services Revenues” shall mean (A) all Merchant Processing        Service revenues, including, without limitation, any commissions, rebates or similar        incentive payments attributable to the Merchant Processing Services paid to Phreesia by        the Member Bank, Visa, Mastercard and/or any other payment networks minus (B)        Merchant Bank interchange, vendor processing fees and a Phreesia processing charge of       $0.10 per transaction; provided that if any such commission, rebate or similar incentive       payment is based on Company’s aggregate transactions processed, then Net Merchant       Processing  Services Revenues shall only include a pro rata portion of such payment       equal to the percentage of the Company’s aggregate transactions attributable to the       Merchant Processing Services.        2.13.  Exhibit F Section b(ii) is deleted and replaced in its entirety with the following:         [intentionally left blank]        2.14.  Exhibit F Section (b)(iii) (Quarterly Fees for Legacy Customers) is deleted in its          entirety.         2.15.  Exhibit F Section b(iv) is deleted and replaced in its entirety with the following:         API Call Fees.  For (i) the Approved Apps as of the First Amendment Effective Date and        (ii) for PIMS to the extent PIMS is subsequently deemed an Approved App for use with        Allscripts’ “Sunrise” during the term of this Agreement, Phreesia shall pay to Allscripts an        annual fee set forth in the table below for 6 billion API Calls per year (the “Initial Block”)       to be made to Allscripts application or subscription services (collectively, the “Allscripts        Products”) by Phreesia Products (excluding the POS Dashboard) in-production (i.e.,                                         6   

 

 excluding use solely for development or testing) (each, an “API Call”) (the “API Call   Fee”).  Except as expressly set forth in the table below, the API Call Fee is payable   quarterly in advance in four equal quarterly installments.  API calls in excess of 6 billion   for a year must be purchased in blocks of 1 billion API Calls (each an “Additional Block”).    The fee for each Additional Block or part thereof used during the year expiring on June 30   date set forth below is $250,000 and will be invoiced by Allscripts in arrears following   such date.       Applicable Period                   Annual API Call Fee (for 6 billion API                                       Calls for such year)    July 1, 2020 through June 30, 2021  $2,000,000*    July 1, 2021 – June 30, 2022        $2,100,000    July 1, 2022 – June 30, 2023        $2,200,000    July 1, 2023 – June 30, 2024        $2,300,000    July 1, 2024 – June 30, 2025        $2,400,000    * Notwithstanding the preceding API Calls Fees provision, this amount shall be payable in  one lump sum on or before June 30, 2020.    Fees for Certification Testing.  The fee for Allscripts to test a Phreesia Product to   determine whether it may be designated an Approved App (as defined in Exhibit G) is   $3,500.  For FHIR-only Phreesia Products, Allscripts will test the Phreesia Product with   Allscripts’ “Sunrise”, “Touchworks” and “Pro” products for such fee.  For Unity Phreesia   Products, testing for each of the “Sunrise”, “Touchworks”, “Pro” and “Practice   Management” products will bear a separate $3,500 fee.  When bundled with “Touchworks”  or “Pro”, “Practice Management” does not bear its own fee in addition to the “Touchworks”  or “Pro” fee.  Allscripts may invoice for certification testing fees upon Phreesia’s   submission of the relevant Phreesia Product to Allscripts.  If new API calls are added to an   Approved App, Phreesia shall re-submit such Approved App to Allscripts for re-testing,  and Allscripts may invoice Phreesia for another testing fee in the amount of $2,800.  For   the avoidance of doubt, no additional fee is due for either (a) re-testing of an Approved   App that is modified to address a bug in either the Approved App or the  Associated   Allscripts Software (as defined in Exhibit G) or (b) continued testing of a Phreesia Product   that is modified and re-submitted to Allscripts per Allscripts’ instructions during the testing   process described in Article 2 of Exhibit G.    Invoicing and Payment.  The payment terms and invoicing for API Call Fees and   Certification Testing shall be as set forth in Section 17.3 of the Agreement.  For the   avoidance of doubt, no Client or other third party shall thereafter have any license from   Allscripts with respect thereto.  For the avoidance of doubt and notwithstanding anything   to the contrary herein, Allscripts hereby agrees that no API Call Fees or testing fees   described above in this Section b(iv) shall be applicable for the POS Dashboard.                                    7                

 

3. Miscellaneous.          3.1.The Agreement, as amended by this First Amendment, is the entire agreement between          the Parties with respect to its subject matter.  It merges all prior and contemporaneous          communications concerning its subject matter.  In the event of any conflicts between          this First Amendment and the remainder of the Agreement, this First Amendment shall          control.  All provisions of the Agreement, except as modified by this First          Amendment, remain in full force and effect and are reaffirmed.  In addition, all fees or          charges accrued or invoiced prior to the First Amendment Effective Date shall          continue to be due and payable according to the terms of the Agreement in effect prior          to the First Amendment Effective Date.        3.2.This First Amendment may be executed in electronic format and in multiple          counterparts, each of which shall constitute an original and all of which taken together          shall constitute one and the same instrument.                               [Signature Page Follows]                                         8   

 

      IN WITNESS WHEREOF, the parties have executed this First Amendment as of the  First Amendment Effective Date.   Allscripts Health Care, LLC            Phreesia, Inc.      By:  ______________________            By:  ______________________                                                   Thomas  Altier Name:  ____________________            Name:  ____________________                                                   CFO Title:  _____________________          Title:  _____________________                                                  6/9/2020 Date:  _____________________           Date:  _____________________                     Signature Page to First Amendment to Strategic Alliance Agreement   

 

Certificate Of Completion Envelope Id: D627D95F3D1F4FDC874073BE81D23650                                                            Status: Completed Subject: Please DocuSign: First Amendment to Phreesia-Allscripts Agmt (Execution).pdf Source Envelope:  Document Pages: 9                                   Signatures: 1                                        Envelope Originator:  Certificate Pages: 2                                Initials: 0                                          Thomas  Altier AutoNav: Disabled                                                                                        432 Park Ave South, 12th Floor EnvelopeId Stamping: Disabled                                                                            New York, NY  10016 Time Zone: (UTC-08:00) Pacific Time (US & Canada)                                                        taltier@phreesia.com                                                                                                          IP Address: 73.198.193.72    Record Tracking Status: Original                                    Holder: Thomas  Altier                               Location: DocuSign              6/9/2020 7:52:45 PM                                 taltier@phreesia.com  Signer Events                                       Signature                                            Timestamp Thomas  Altier                                                                                           Sent: 6/9/2020 7:53:08 PM taltier@phreesia.com                                                                                     Viewed: 6/9/2020 7:53:13 PM  CFO                                                                                                      Signed: 6/9/2020 7:54:47 PM  Phreesia                                                                                                 Freeform Signing                                                     Signature Adoption: Pre-selected Style Security Level: Email, Account Authentication  (None)                                              Using IP Address: 73.198.193.72  Electronic Record and Signature Disclosure:        Not Offered via DocuSign  In Person Signer Events                             Signature                                            Timestamp  Editor Delivery Events                              Status                                               Timestamp  Agent Delivery Events                               Status                                               Timestamp  Intermediary Delivery Events                        Status                                               Timestamp  Certified Delivery Events                           Status                                               Timestamp  Carbon Copy Events                                  Status                                               Timestamp Thomas Altier                                                                                            Sent: 6/9/2020 7:54:47 PM taltier@phreesia.com CFO Phreesia Security Level: Email, Account Authentication  (None) Electronic Record and Signature Disclosure:        Not Offered via DocuSign  Witness Events                                      Signature                                            Timestamp  Notary Events                                       Signature                                            Timestamp  Envelope Summary Events                             Status                                               Timestamps Envelope Sent                                       Hashed/Encrypted                                     6/9/2020 7:54:47 PM Certified Delivered                                 Security Checked                                     6/9/2020 7:53:13 PM Signing Complete                                    Security Checked                                     6/9/2020 7:54:47 PM Completed                                           Security Checked                                     6/9/2020 7:54:47 PM

 

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