Document:

EXHIBIT 4.2

 

SUBSCRIPTION
AND INFORMATION AGENT AGREEMENT

 

This
Subscription and Information Agent Agreement (the “Agreement”) is entered into as of this 10th day of
March, 2014, by and between Accelerate Diagnostics, Inc., a Delaware corporation (the “Corporation”),
and Broadridge Corporate Issuer Solutions, Inc., a corporation having its principal offices in Philadelphia, Pennsylvania (“Broadridge”).

 

WHEREAS,
pursuant to a public
rights offering (the “Rights Offering”),
the record and
beneficial holders of the Corporation’s common stock, par value $0.001 per share (the “Common
Stock”), will be given the right (the “Subscription Rights”)
to subscribe for an aggregate of up to approximately 3,200,000 shares of Common Stock, in each case as more fully set forth in
a prospectus and related offering documents (the “Offering Documents”)
to be prepared by the Corporation and filed with the Securities and Exchange Commission for the purpose of effecting the Rights
Offering; and

 

WHEREAS,
the Corporation has authorized and directed the Agent (as defined below) to hold funds
submitted by stockholders who exercise Subscription Rights (the
“Subscription Funds”) in accordance with the terms and provisions
of this Agreement; and

 

WHEREAS,
upon the terms and conditions set forth in the applicable Offering
Documents, the Agent will record properly
exercised Subscription Rights from holders of the Common Stock on the Record Date (as defined in the applicable Offering Documents),
as well as record and deposit the Subscription Funds for
the purchase of the shares of Common Stock pursuant to the Rights
Offering; and 

 

WHEREAS,
the Corporation desires that Broadridge act as both Subscription
Agent and Information Agent under the Rights
Offering (the “Agent”), and Broadridge has indicated its willingness to do so.

 

NOW,
THEREFORE, in consideration of the mutual covenants contained herein, the parties hereto agree as follows:

 

1.
  Appointment of Subscription and Information Agent.
The Corporation hereby confirms the appointment of Broadridge
as Agent, and Broadridge hereby agrees to serve as Agent,
upon the terms and conditions set forth herein.

 

2.
  Acceptance and Receipt of Subscription Documents.

 

A.
  After receiving from the Corporation acknowledgement of the commencement
of the Rights Offering, the Agent shall promptly
mail to each holder of Common Stock as of the Record Date (a) the
appropriate Offering Documents as approved by the Corporation (which shall specify that the exercise
of Subscription Rights shall be effected, and risk
of loss of Subscription Funds shall pass, only upon receipt by the Agent of the properly completed Subscription Certificate
(as defined in the Offering Documents) and Subscription Funds required to effect the exercise
of Subscription Rights under the
Rights Offering) and (b) an envelope addressed to the Agent for use by such holder in exercising
his or her Subscription Rights (the “Mailing”).

 

B.
  The Agent, upon receipt of Subscription
Funds and duly, completely and correctly executed Subscription
Certificates and other documents for the exercise of Subscription Rights, shall make note of such Subscriptions
and Subscription Funds with respect of the amount
of shares subscribed for. Upon closing of the Rights
Offering and as promptly as feasible upon the Agent’s receipt of the Corporation’s acceptance and approval
of said Subscription Certificates, (i) the Corporation will
authorize the Agent to no longer accept any subscription documents and to prepare the final subscription list, representing the
number of shares of Common Stock for which said stockholder has subscribed, for the issuance of stock certificates by Broadridge
in its capacity as the Corporation’s transfer agent (the “Certificates”), and (ii) the Agent will
release to the Corporation the aggregate Subscription Funds
minus any fees and expense reimbursements (incurred or reserved for disbursements) due to the Agent from the Corporation
(sections (i) and (ii) directly preceding constituting the “Closing”). No interest on the Subscription
Funds will accrue to either the Corporation or the Corporation’s stockholders.

 

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3.
  Notification and Processing. The Agent is hereby
authorized and directed to, and hereby agrees to perform certain functions, including but not limited to the following:

 

A.  
Accept and respond to all telephone requests from stockholders for information relative to the exercise
of Subscription Rights (except that Agent will not answer questions relating to the sufficiency of the consideration
or the tax implications of the Rights Offering);
answer questions regarding the proper method of exercising
Subscription Rights, including the completion of Subscription Certificates and other documents related to the Rights
Offering; maintain a toll-free number to respond to inquiries; provide assistance to holders of Common Stock and
monitor the response to the Rights Offering; enclose
and re-mail the Subscriptions to interested holders of Common Stock; and provide periodic reports as requested to the
Corporation as to the status of the Rights
Offering.

 

B.
  Date stamp each document relating to its duties hereunder when received.

 

C.
  Receive and examine all documents
submitted to it in connection with the exercise of rights
under the Rights Offering for proper execution in accordance with the terms thereof. If Common
Stock applicable to a subscription is held by more than one record holder,
the applicable Offering Documents must be signed by each
such holder; if a holder or joint holders (registrants) hold more than one position in the Corporation, as indicated by
different accounts on the relevant record holder list, then separate,
properly completed and executed subscriptions must be submitted
for each such position held by that or those joint holders (registrants).

 

D.
  Retain or return to any holders (as applicable) those Offering
Documents evidencing some deficiency in execution and make reasonable attempts to inform such holders of the need to correct
any such deficiency. In any instance where the Agent cannot reconcile such deficiencies, the Agent shall consult with the Corporation
for instructions as to whether the Agent may accept such exercise of Subscription Rights. In the absence of such instructions
by Corporation in writing or email within twenty-four (24) hours after Agent first requests such instructions, Agent is authorized
not to accept such exercise of Subscription Rights and shall notify the exercising stockholder that its exercise is deficient.

 

E.   
Accept Subscription Certificates and other documents
signed by persons acting in a fiduciary or representative capacity only if such capacity is properly shown on the subscriptions
and proper evidence of their authority so to act has been submitted.

 

F.
  Accept subscriptions for
Common Stock to be issued other than in the name that appears
on the Corporation record stockholder list submitted for
such subscription, where (i) the
signature thereon is guaranteed by a financial institution which is a participant in the Securities Transfer Agents Medallion
Program (“STAMP”), the New York Stock Exchange, Inc. Medallion Signature Program (“MSP”),
or The Stock Exchanges Medallion Program (“SEMP”), (ii) any
necessary stock transfer taxes are paid and proof of such payment is submitted or funds therefore are provided to the Agent, or
it is established by the holder that no such taxes are due and payable and (iii) the
“Special Issuance Instructions” on the Subscription
Certificate have been properly completed.

 

G.
  Retain all subscriptions
accepted and retain such documents pending further instructions from the Corporation.

 

H.
  Return at the Corporation’s request any and all necessary records, information and material
concerning and representing unsubscribed Common Stock
under the Rights Offering.

 

I.
   Maintain on a continuing basis a list of holders of Common Stock that have not yet subscribed
pursuant to the Rights Offering.

 

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4.
  Concerning the Subscription and Information Agent.

 

The
Agent:

 

A.
  Shall have no duties or obligations other than those set forth herein, including those
described under “Included Services” on Exhibit A, and no duties or obligations shall be inferred or implied,
nor shall Agent be obligated nor expected to perform those services described under “Non-Included Services” on Exhibit
A.

 

B.
   May rely on, and shall be
held harmless by, the Corporation in acting upon any certificate,
statement, instrument, opinion, notice, letter, facsimile transmission, telegram, electronic mail or other document, or any security
delivered to it, and reasonably believed by it to be genuine and to have been made or signed by the proper party or parties.

 

C.
   May rely on and shall be held harmless by the Corporation in acting upon written or oral instructions
from the Corporation with respect to any matter relating to its acting as Agent.

 

D.
  May consult on documents with counsel satisfactory to it (including counsel for the Corporation)
and shall be held harmless by the Corporation in relying on the advice or opinion of such counsel in respect of any action taken,
suffered or omitted by it hereunder in good faith and in accordance with such advice or opinion of such counsel.

 

E.
   Shall make the final determination as to whether or not a Subscription Certificate
received by Agent is duly, completely and correctly executed in order to qualify for the Rights
Offering and Agent shall be held harmless by the Corporation in respect of any action taken, suffered or omitted by Agent
hereunder in good faith and in accordance with its determination; shall not be obligated to take any legal or other action hereunder
which might, in its judgment subject or expose it to any expense or liability unless it shall have been furnished with an indemnity
satisfactory to it.

 

F.
   Shall not be liable or responsible for any recital or statement contained in any Offering Document
or any other documents relating thereto.

 

G.
   Shall not be liable or responsible for any failure of the Corporation to comply with any of its
obligations relating to the Offering, including without limitation obligations under applicable regulation or law.

 

This
Agreement does not contemplate any service to be provided by Agent in the case where the conditions of the
Rights Offering have not been met in a timely manner. If necessary, service to be provided by Agent under such circumstances
and remuneration to Agent therefore, will be established in a mutual agreement between Agent and the Corporation, which will become
a part of this Agreement.

 

No
later than the business day after the Mailing, the Corporation will provide Agent with a list of talking points dealing with anticipated
questions from holders of Common Stock. It is understood and agreed that Agent will not provide tax advice, will not interpret
tax regulations, will not opine regarding the merits of the Rights
Offering, and will not provide any comments related to any legal proceedings related to the Corporation.

 

5.
  Compensation of the Agent by the Corporation.
The Corporation shall pay fees for the services rendered hereunder, as set forth in the Fee Schedule (attached hereto as Exhibit
A). The Agent shall also be entitled to reimbursement from the Corporation for all reasonable and necessary expenses paid
or incurred by it in connection with the administration by the Agent of its duties hereunder. One half of the total Agent fees
(not including postage) must be paid upon execution of this Agreement. The remaining half must be paid within fifteen (15) business
days thereafter. An invoice for any out-of-pocket and/or per item fees incurred will be rendered to the Corporation and payable
by the Corporation within fifteen (15) days of the date of said invoice, except for invoiced estimated postage, printing and mailing
expenses, which funds must be received five (5) business days prior to the scheduled Mailing date. It is understood and agreed
that all responsibilities and duties of, and services to be performed by, Agent shall cease if full payment for its services has
not been received in accordance with the above schedule, and said services will not commence thereafter until all payment due
has been received by Agent.

 

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6.
  Reminder Mailings. The Corporation agrees that
any follow up mailing program will be coordinated exclusively through Agent, either by Agent or using a vendor that Agent has
previously approved. Agent may conduct follow up mailings through electronic mail, to the extent the email address of the intended
recipient Stockholder has been provided by Corporation to Agent.

 

7.
  Performance. The Agent shall at all times act in
good faith and agrees to use its commercially reasonable efforts within reasonable time limits to insure the accuracy and timeliness
of all services performed under this Agreement.

 

8.
  Indemnification, Limitation of Liability.

 

A.
   The Corporation covenants and agrees
to indemnify and to hold the Agent harmless against any claims, actions, judgments, liabilities, costs, expenses (including
reasonable fees of its legal counsel), losses or damages, which may be paid, incurred or suffered by or to which it may become
subject, arising from or out of its duties under this Agreement. Promptly after the receipt by the Agent of notice of any demand
or claim, or the commencement of any action, suit, proceeding or investigation, the Agent shall notify the Corporation thereof
in writing. The Corporation shall be entitled to participate at its own expense in the defense of any such claim or proceeding,
and, if it so elects at any time after receipt of such notice, it may assume the defense of any suit brought to enforce any such
claim or of any other legal action or proceeding. Agent will not, without the Corporation’s prior consent, settle or compromise
or consent to the entry of any judgment to any pending or threatened Action in respect of which indemnification may be sought
hereunder. For the purposes of this Section 8, the
phrase “any costs, expenses (including reasonable fees of its legal counsel), losses or damages” means any amount
paid or payable to satisfy any claim, demand, action, suit or proceeding settled, and all reasonable costs and expenses, including,
but not limited to, reasonable counsel fees and disbursements, paid or incurred in investigating or defending against any such
action, suit, proceeding or investigation.

 

B.
   Agent’s aggregate liability during any term of this Agreement with respect to, arising from,
or arising in connection with this Agreement, or from all services provided or omitted to be provided under this Agreement, whether
in contract, or in tort, or otherwise, is limited to, and shall not exceed, the amounts paid or payable hereunder by the Corporation
to Agent as fees and charges, but not including reimbursable expenses.

 

C.
   In the event any question or dispute arises with respect to the proper interpretation of this Agreement
or Agent’s duties hereunder or the rights of the Corporation or of any Stockholders exercising Subscription Rights, Agent
shall not be required to act and shall not be held liable or responsible for refusing to act until the question or dispute has
been judicially settled (and Agent may, if it deems it advisable, but shall not be obligated to, file a suit in interpleader or
for a declaratory judgment for such purpose) by final judgment rendered by a court of competent jurisdiction, binding on all stockholders
and parties interested in the matter which is no longer subject to review or appeal, or settled by a written document in form
and substance satisfactory to Agent and executed by the Corporation and each such stockholder and party. In addition, Agent may
require for such purpose, but shall not be obligated to require, the execution of such written settlement by all the stockholders
and all other parties that may have an interest in the settlement.

 

9.
  Further Assurance. From time-to-time and after
the date hereof, the Corporation shall deliver or cause to be delivered to the Agent such further documents and instruments and
shall do and cause to be done such further acts as the Agent shall reasonably request (it being understood that the Agent shall
have no obligation to make any such request) to carry out more effectively the provisions and purposes of this Agreement, to evidence
compliance herewith or to assure itself that it is protected in acting hereunder.

 

10.
  Term. The Corporation may terminate this Agreement
at any time by providing 60 days written notification to the Agent. The Agent may terminate this Agreement by providing the
Corporation 60 days’ written notice, except that Agent may terminate this agreement at any time Corporation has not
paid in full an invoice from the Agent within the time period described in Section 5 herein. Upon the effective date of termination
of this Agreement, all cash and other payments, without interest, and all other property then held by the Agent on behalf of the
holders of Common Stock hereunder shall be delivered by it to such successor agent or as otherwise shall be designated in writing
by the parties hereto. Upon termination of this Agreement, all subscription
documents received and related documentation will be returned to the Corporation.

 

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11.
  Notices. Until further notice in writing by either
party hereto to the other party, all written reports, notices and other communications between the Agent and the Corporation required
or permitted hereunder shall be delivered or mailed by first class mail, postage prepaid, addressed as follows:

 

	If to the Corporation,
    to:	Accelerate
                           Diagnostics, Inc.

        3950
        S. Country Club Road, Suite 470

        Tucson,
        AZ 85714

	 	Attn:
        Chief Financial Officer

        Fax:
        (520) 269-6580

         

	With a copy (which shall not constitute 

notice to
    the Corporation) to:	Snell
        & Wilmer L.L.P.

        One
        Arizona Center

        400
        East Van Buren

        Phoenix,
        AZ 85004

        Attn:
        Daniel M. Mahoney

        Fax:
        (602) 382-6070

         

	If to the Agent, to:	Broadridge
        Corporate Issuer Solutions, Inc.

        1717
        Arch Street, Suite 1300

        Philadelphia,
        PA 19103

        Attn:
        Re-Organization Department

 

12.
  Governing Law. This Agreement shall be governed
by and construed in accordance with the laws of the Commonwealth of Pennsylvania and shall inure to the benefit of, and the obligations
created hereby shall be binding upon, the successors and assigns of the parties hereto.

 

13.
  Assignment.

 

A.   
Except as provided in Section 13(B) below, neither this Agreement nor any rights or obligations
hereunder may be assigned by either party without the written consent of the other party.

 

B.
   The Agent may, without further consent on the part of the Corporation, subcontract with subcontractors
for systems, processing, telephone and mailing services, and reminder mailing activities, as may be required from time to time;
provided, however, that the Agent shall be fully responsible to the Corporation for the acts and omissions of any subcontractor.

 

C.
    Except as explicitly stated elsewhere in this Agreement, nothing under this Agreement shall be construed
to give any rights or benefits in this Agreement to anyone other than the Agent and the Corporation and the duties and responsibilities
undertaken pursuant to this Agreement shall be for the sole and exclusive benefit of the Agent and the Corporation. This Agreement
shall inure to the benefit of and be binding upon the parties and their respective permitted successors and assigns.

 

14.
  Amendment. This Agreement may not be modified,
amended or supplemented without an express written agreement executed by each of the parties hereto.

 

15.
  Counterparts. This Agreement may be executed in
separate counterparts, each of which, when executed and delivered, shall be an original, but all such counterparts shall together
constitute but one and the same instrument.

 

16.
No Joint Venture. This Agreement does not constitute
an agreement for a partnership or joint venture between the Agent and the Corporation. Neither party shall make any commitments
with third parties that are binding on the other party without the other party’s prior written consent.

 

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17.
Force Majeure. In the event either party is unable
to perform its obligations under the terms of this Agreement because of acts of God, strikes, equipment or transmission failure
or damage that is reasonably beyond its control, or other cause that is reasonably beyond its control (except, in the case of
the Agent, for acts of subcontractors), such party shall not be liable for damages to the other for any damages resulting from
such failure to perform or otherwise from such causes. Performance under this Agreement shall resume when the affected party or
parties are able to perform substantially that party’s duties.

 

18.
  Consequential Damages. Neither party to this Agreement
shall be liable for any consequential, indirect, special or incidental damages under any provision of this Agreement or for any
consequential, indirect, penal, special or incidental damages arising out of any act or failure to act hereunder even if that
party has been advised of or has foreseen the possibility of such damages.

 

19.
  Severability. If any provision of this Agreement
shall be held invalid, unlawful, or unenforceable, the validity, legality, and enforceability of the remaining provisions shall
not in any way be affected or impaired.

 

20.
  Confidentiality. The Agent and the Corporation
agree that all books, records, information and data pertaining to the business of the other party which are received pursuant
to the negotiation or the carrying out of this Agreement, including the fees for services set forth in the attached schedule,
shall remain confidential and shall not be voluntarily disclosed to any other person (except the party’s attorneys and advisors),
except with the written approval of the other party or as may be required by law.

 

21.
  Survival. The provisions of Sections 4, 5,
6, 8, 12, 13, 18, 21 and 22 shall survive any termination
of this agreement.

 

22.
  Merger of Agreement. This Agreement constitutes
the entire agreement between the parties hereto and supersedes any prior agreement with respect to the subject matter hereof whether
oral or written.

 

IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their respective officers, hereunto duly
authorized, as of the day and year first above written.

 

	BROADRIDGE CORPORATE ISSUER SOLUTIONS,
    INC.	 	ACCELERATE DIAGNOSTICS, INC.
	 	 	 	 
	By:	/s/ John
    Dunn	 	By:	/s/ Steve Reichling
	Name:	John Dunn	 	Name:	Steve Reichling
	Title:	Senior Vice President	 	Title:	Chief Financial Officer

 

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Exhibit
A

 

AGENT FEES
AND INCLUDED SERVICES

 

Subscription
and Information Agent Fee of $7,500.00, plus $10.00 for each line item on Depository Trust Company’s ATOP forms submitted
to Agent.

Plus reasonable
out of pocket expenses, including but not limited to, checks, stop check charges, printing costs, postage (at 1.1 times rate),
wire transfers, excess material disposal, overtime charges at 100% assessed in the event of late delivery of material for Mailing.

 

INCLUDED SERVICES

 

		·	Designating
                                         a corporate action account manager to communicate with all parties hereto and their counsel
                                         to establish the terms, timing and procedures required to carry out Subscription Agent
                                         duties, including document review and execution of legal agreements,
                                         Subscription Certificates
                                         and other Rights Offering documents and communication materials, project management,
                                         and on-going project updates and reporting.

 

		·	Designating
                                         an Information Agent account manager to review and become familiar with all Offer
                                         Documents and provide expert assistance to holders of Common Stock related to
                                         matters concerning the Rights
                                         Offering.

 

		·	Preparing
                                         labels that include name, address for the mailing of
                                         Offering Documents.

 

		·	Collating
                                         and assembling Offering
                                         Documents and envelopes for mailing.

 

		·	Addressing
                                         and enclosing Offering
                                         Documents and return envelopes, for one-time, one-day mailing to holders of Common
                                         Stock.

 

		·	Receiving,
                                         opening and logging in returned Subscription
                                         Certificates.

 

		·	Checking
                                         Subscription Certificates
                                         for validity against master list.

 

		·	Checking
                                         for proper execution of all of
                                         Subscription Certificates and other documents necessary to effect a proper exercise of
                                         Subscription Rights, including W-9s
                                         (if applicable).

 

		·	Curing
                                         defective subscriptions,
                                         including telephoning and writing holders of Common Stock in connection with unsigned
                                         or improperly executed Subscription
                                         Certificates and other Offering Documents.

 

		·	Soliciting
                                         by mail W-9s from holders of Common Stock who have not executed them or whose TINs do
                                         not match our records.

 

		·	Tracking
                                         and reporting as required the number of shares
                                         of Common Stock to which stockholders have subscribed.

 

		·	Sealing,
                                         addressing, posting (not including postage), and providing envelopes for mailing to holders
                                         of Common Stock.

 

		·	Providing
                                         stockholder relations
                                         services to all holders of Common Stock related to the Rights
                                         Offering, including phone, email, and regular mail inquiries.

 

    	 

    	 

    

 

NON-INCLUDED
SERVICES

 

		·	Services
                                         associated with new duties, legislation or regulations which become effective after the
                                         date of this Agreement (these will be provided on an appraisal basis).

 

		·	Reasonable
                                         legal review fees if referred to outside counsel. Broadridge agrees to consult with the
                                         Corporation prior to referring any work to outside counsel.

 

		·	Overtime
                                         charges at 100% assessed in the event of late delivery of material for mailings, unless
                                         the target mail date is rescheduled.

 

		·	Post-Offer
                                         clean up.

 

		·	Dedicated
                                         Toll Free 800 Number.EXHIBIT 10.1

 

STANDBY PURCHASE AGREEMENT

 

This STANDBY PURCHASE
AGREEMENT (this “Agreement”) is made and entered into on March 10, 2014, by and among Schuler Family Foundation
(the “Foundation”), Jack Schuler, Trustee of the Jack W. Schuler Living Trust (the “Trustee”)
(the Foundation and Trustee, collectively, the “Standby Purchasers,” and each individually, a “Standby
Purchaser”), and Accelerate Diagnostics, Inc., a Delaware corporation (the “Company”).

 

RECITALS

 

WHEREAS, the Company
proposes to distribute, at no charge, to each holder of record of shares of common stock, par value $0.001 per share, of the Company
(the “Common Stock”) on a record date to be set by the Board of Directors of the Company (the “Record
Date”) non-transferable rights (the “Rights”) to subscribe for and purchase additional shares of Common
Stock (the “Rights Offering”);

 

WHEREAS, the Company
desires to raise a total of $45,000,000 in connection with the Rights Offering;

 

WHEREAS, in connection
with the Rights Offering, the Company’s stockholders of record as of the Record Date will receive a specified fractional
number of Rights for each share of Common Stock held as of the Record Date (i.e., for each one (1) share of Common Stock held as
of the Record Date, the stockholder will receive less than one (1) Right, with the actual fraction being determined by reference
to the total amount of the Rights Offering and the total number of shares of Common Stock to be offered in connection therewith);

 

WHEREAS,
each whole Right will entitle the holder thereof to purchase one share of Common Stock (the
“Subscription Privilege”) at a specified price equal to 90% of the market price of the Common Stock as
reported by the NASDAQ Capital Market on the latest practicable date prior to the launch of the Rights Offering (the
“Subscription Price”); and

 

WHEREAS, in order to
facilitate the Rights Offering, the Company has offered to the Standby Purchasers the opportunity, and the Standby Purchasers have
agreed and committed, to purchase at the Subscription Price, subject to the terms and conditions of this Agreement, any shares
of Common Stock that are not exercised pursuant to the Subscription Privilege in the Rights Offering (the “Unsubscribed
Shares” and such offering, the “Standby Offering”).

 

AGREEMENT

 

NOW THEREFORE, in consideration
of the foregoing and the mutual covenants herein contained and other good and valuable consideration, the parties hereto agree
as follows:

 

Section 1.Standby Purchase Commitment.

 

(a)Standby Purchase
Commitment. If and to the extent Unsubscribed Shares are not purchased by the Company’s stockholders pursuant to the
exercise of Rights in connection with the Rights Offering, the Standby Purchasers hereby agree, on a joint and several basis, to
purchase from the Company at the Subscription Price all such Unsubscribed Shares, up to the full amount of shares of Common Stock
offered by the Company in the Rights Offering (the “Commitment Amount”). The Standby Purchasers (i) acknowledge
that the precise Commitment Amount is yet to be determined based on the Company’s pending determination of a Rights Offering
amount, and (ii) affirm their agreement to the Commitment Amount.

 

(b)Allocation
of Unsubscribed Shares. Promptly following the expiration of the Rights Offering, the Company will determine the amount of
Unsubscribed Shares. Upon the Company’s determination of the number of Unsubscribed Shares, the Company promptly will notify
the Standby Purchasers in writing of the amount of Common Stock to be purchased by them, which amount may be less than the Commitment
Amount (the “Allocated Amount”).

 

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(c)Closing.
On the basis of the representations and warranties and subject to the terms and conditions herein set forth, the closing of the
purchase and sale of the Allocated Amount (the “Closing”) shall take place at the offices of the Company at
10:00 a.m., Arizona time, on the third business day following the closing of the Rights Offering, or such other place, time or
date as may be determined by the parties hereto (the “Closing Date”). At the Closing, the Company shall deliver
or cause to be delivered to the Standby Purchasers (or their respective designees) one or more certificates (or evidence of book-entry
records) representing the shares of Common Stock issued to the Standby Purchasers (or their respective designees, it being understood
that the Standby Purchasers shall be permitted to instruct the Company to have such shares allocated between them as the Standby
Purchasers may specify in writing) in respect of the Allocated Amount, and the Standby Purchasers shall deliver (or cause to be
delivered) to the Company, in cash or other immediately available funds, the aggregate Subscription Price relating to such shares
of Common Stock.

 

(d)Withdrawal
and Termination. At any time prior to the Closing Date, the Company may in its sole discretion withdraw or terminate the Rights
Offering or the Standby Offering. In the event that the Company withdraws or terminates the Rights Offering or the Standby Offering,
the Company will return the Standby Purchasers’ payment, or portion thereof, if any, to the Standby Purchasers, without interest
or other income, promptly thereafter.

 

Section 2.Representations and
Warranties of the Standby Purchaser. Each Standby Purchaser, jointly and severally with the other Standby Purchaser, represents
and warrants to the Company as follows:

 

(a)Existence
and Good Standing; Authority. Each Standby Purchaser is validly existing and in good standing under the laws of the state of
its formation and has all requisite power and authority to carry on its business as now conducted.

 

(b)Authorization
of Agreement; Enforceability. This Agreement has been duly and validly authorized, executed and delivered by each Standby Purchaser.
This Agreement is valid, binding and enforceable against each Standby Purchaser in accordance with its terms, subject, as to enforcement,
to bankruptcy, insolvency, reorganization and other laws of general applicability relating to or affecting creditors’ rights
and to general equity principals.

 

(c)Accredited
Investor. Each Standby Purchaser is an “accredited investor” as that term is defined in Regulation D promulgated
under the Securities Act of 1933, as amended (the “Securities Act”).

 

(d)Information;
Knowledge of Business. Through its trustee or officers, as applicable, each Standby Purchaser is familiar with the business
in which the Company is engaged. Each Standby Purchaser (through its trustee or officers) has knowledge and experience in financial
and business matters; is familiar with the investments of the type that it is undertaking to purchase; is fully aware of the problems
and risks involved in making an investment of this type; and is capable of evaluating the merits and risks of this investment.
Each Standby Purchaser acknowledges that, prior to executing this Agreement, it (and each of its representatives) has had the opportunity
to ask questions of and receive answers or obtain additional information from a representative of the Company concerning the financial
and other affairs of the Company.

 

(e)Availability
of Funds. Each Standby Purchaser has available sufficient funds to pay the full Commitment Amount if needed.

 

(f)Investment
Intent. Each Standby Purchaser is acquiring its shares of Common Stock for its own account, with the intention of holding such
shares for investment and with no present intention of participating, directly or indirectly, in a distribution of the shares,
and each Standby Purchaser will not make any sale, transfer or other disposition of the shares for a period of six months from
the Closing Date.

 

(g)No Manipulation
or Stabilization of Price. Neither Standby Purchaser has taken and neither Standby Purchaser will take, directly or indirectly,
any action designed to or that would constitute or that might reasonably be expected to cause or result in, under the Exchange
Act or otherwise, stabilization or manipulation of the price of any security of the Company in order to facilitate the sale or
resale of any securities of the Company, and neither Standby Purchaser is aware of any such action taken or to be taken by any
person.

 

    	2

    	 

    

 

Section 3.Representations and
Warranties of the Company.

 

(a)Existence
and Good Standing; Authority. The Company is a corporation validly existing and in good standing under the laws of the State
of Delaware and has all requisite corporate power and authority to carry on its business as now conducted.

 

(b)Authorization
of Agreement; Enforceability. This Agreement has been duly and validly authorized, executed and delivered by the Company. This
Agreement is valid, binding and enforceable against the Company in accordance with its terms, subject, as to enforcement, to bankruptcy,
insolvency, reorganization and other laws of general applicability relating to or affecting creditors’ rights and to general
equity principals.

 

(c)Due Authorization
and Issuance of Shares. All of the shares of Common Stock to be issued pursuant to this Agreement will have been duly authorized
for issuance prior to the Closing, and, when issued and distributed as set forth in the prospectus to be filed by the Company with
the Securities and Exchange Commission (the “Commission”) in connection with the Rights Offering (the “Prospectus”),
will be validly issued, fully paid and non-assessable; and none of such shares of Common Stock will have been issued in violation
of the preemptive rights of any security holders of the Company arising as a matter of law or under or pursuant to the Company’s
Certificate of Incorporation, as amended, the Company’s Bylaws, as amended, or any material agreement or instrument to which
the Company is a party or by which it is bound.

 

(d)No Conflicts.
The Company is not in violation of its Certificate of Incorporation, as amended, or Bylaws, as amended, or in default under any
agreement, indenture or instrument to which the Company is a party, the effect of which violation or default could reasonably be
expected to have a material adverse effect on the Company, and the execution, delivery and performance of this Agreement by the
Company and the consummation of the transactions contemplated hereby will not conflict with, or constitute a breach of, or default
under, or result in the creation or imposition of any lien, charge or encumbrance upon any of the assets of the Company pursuant
to the terms of any agreement, indenture or instrument to which the Company is a party which lien, charge or encumbrance could
reasonably be expected to have a material adverse effect on the Company, or result in a violation of the Certificate of Incorporation
or Bylaws of the Company or any order, rule or regulation of any court or governmental agency having jurisdiction over the Company
or any of its property; and, except as required by the Securities Act, the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), and applicable state securities laws, no consent, authorization or order of, or filing or registration with, any
court or governmental agency is required for the execution, delivery and performance of this Agreement.

 

Section 4.Conditions to Closing.

 

(a)Conditions
to Both Parties’ Obligations. The obligations of the Company and the Standby Purchasers to consummate the transactions
contemplated hereunder in connection with the Standby Offering are subject to the fulfillment, prior to or on the Closing Date,
of the following conditions:

 

(i)the
Rights Offering shall have been consummated in accordance with the terms and conditions described in the Prospectus; and

 

(ii)no
judgment, injunction, decree, regulatory proceeding or other legal restraint shall prohibit, or have the effect of rendering unachievable,
the consummation of the Standby Offering or the transactions contemplated by this Agreement.

 

(b)Conditions
to Company’s Obligations. The obligations of the Company to consummate the transactions contemplated hereunder in connection
with the Standby Offering are subject to the fulfillment, prior to or on the Closing Date, of the following conditions:

 

(i)the
representations and warranties of each Standby Purchaser in Section 2 shall be true and correct in all material respects
as of the date hereof and as of the Closing Date as if made as of such date; and

 

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(ii)the
Standby Purchasers shall have performed all of their obligations hereunder.

 

(c)Conditions
to Standby Purchasers’ Obligations. The obligations of the Standby Purchasers to consummate the transactions contemplated
hereunder in connection with the Standby Offering are subject to the fulfillment, prior to or on the Closing Date, of the following
conditions:

 

(i)the
representations and warranties of the Company in Section 3 shall be true and correct in all material respects as of the
date hereof and as of the Closing Date as if made as of such date; and

 

(ii)the
Company shall have performed all of its obligations hereunder.

 

Section 5.Survival. The
representations and warranties of the parties contained in this Agreement or in any certificate delivered hereunder shall survive
the Closing hereunder.

 

Section 6.Covenants.

 

(a)SEC Filings.
The Company agrees, as soon as reasonably practicable after the Company is advised or obtains knowledge thereof, to advise the
Standby Purchasers with a confirmation in writing, of (i) the time when any amendment or supplement to the Prospectus has been
filed, (ii) the issuance by the Commission of any stop order, or of the initiation or threatening of any proceeding, suspending
the effectiveness of the Registration Statement relating to the Rights Offering (the “Registration Statement”)
or any amendment thereto or any order preventing or suspending the use of any preliminary prospectus or the Prospectus or any amendment
or supplement thereto, (iii) the issuance by any state securities commission of any notice of any proceedings for the suspension
of the qualification of the shares of Common Stock for offering or sale in any jurisdiction or of the initiation, or the threatening,
of any proceeding for such purpose, (iv) the receipt of any comments from the Commission directed toward the Registration Statement
or any document incorporated therein by reference, and (v) any request by the Commission for any amendment to the Registration
Statement or any amendment or supplement to the Prospectus or for additional information. The Company shall use its commercially
reasonable efforts to prevent the issuance of any such order or the imposition of any such suspension and, if any such order is
issued or suspension is imposed, to obtain the withdrawal thereof as promptly as possible.

 

(b)Information
About Standby Purchasers. The Standby Purchasers agree to furnish to the Company all information with respect to the Standby
Purchasers that may be necessary or appropriate and will make any information furnished to the Company for the Prospectus by the
Standby Purchasers not contain any untrue statement of material fact or omit to state a material fact required to be stated in
the Prospectus or necessary in order to make the statements therein, in the light of the circumstances under which they were made,
not misleading.

 

(c)Public Announcements.
Neither the Company nor the Standby Purchasers shall issue any public announcement, statement or other disclosure with respect
to this Agreement or the transactions contemplated hereby without the prior consent of the other party hereto, which consent shall
not be unreasonably withheld or delayed, except if such public announcement, statement or other disclosure is required by applicable
law or applicable stock market regulations, in which case the disclosing party shall consult in advance with respect to such disclosure
with the other parties to the extent reasonably practicable.

 

(d)NASDAQ Listing.
The Company shall cause the shares of Common Stock issued to the Standby Purchasers hereunder to be listed on the NASDAQ Capital
Market.

 

Section 7.Termination.

 

(a)By Standby
Purchasers. The Standby Purchasers may terminate this Agreement (i) upon the occurrence of a suspension of trading in the Common
Stock by the NASDAQ Capital Market, any suspension of payments with respect to banks in the United States or a declaration of war
or national emergency in the United States, or (ii) if the Company materially breaches its obligations under this Agreement and
such breach is not cured within five business days following written notice to the Company.

 

    	4

    	 

    

 

(b)By Company.
The Company may terminate this Agreement (i) in the event the Company, in its reasonable judgment, determines that it is not in
the best interests of the Company and its stockholders to proceed with the Rights Offering and/or the Standby Offering, (ii) if
consummation of the Rights Offering and/or the Standby Offering is prohibited by applicable law, rules or regulations, or (iii)
if the Standby Purchasers materially breach their obligations under this Agreement and such breach is not cured within five business
days following written notice to the Standby Purchasers.

 

(c)Other.
Any of the parties hereto may terminate this Agreement if the transactions contemplated hereby are not consummated by May 31, 2014
through no fault of the terminating party. In addition, this Agreement shall terminate upon the parties’ mutual consent.

 

(d)Effect of
Termination. The Company and the Standby Purchasers hereby agree that any termination of this Agreement pursuant to this Section
7 (other than termination by one party in the event of a breach of this Agreement by the other party or a misrepresentation
of any of the statements made hereby by the other party), shall be without liability to the Company or the Standby Purchasers.

 

Section 8.Notices. All
notices, communications and deliveries required or permitted by this Agreement shall be made in writing signed by the party making
the same, shall specify the Section of this Agreement pursuant to which it is given or being made and shall be deemed given or
made (a) on the date delivered if delivered in person, (b) on the third (3rd) business day after it is mailed if mailed by registered
or certified mail (return receipt requested) (with postage and other fees prepaid) or (c) on the day after it is delivered, prepaid,
to an overnight express delivery service that confirms to the sender delivery on such day, as follows:

 

If to the Company:

 

Accelerate Diagnostics, Inc.

3950 South Country Club, Suite 470

Tucson, Arizona 85714

Attention: Chief Financial Officer

Fax: (520) 269-6580

 

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

 

Snell & Wilmer L.L.P.

One Arizona Center

400 East Van Buren

Phoenix, Arizona 85004

Attention: Daniel M. Mahoney

Fax: (602) 382-6070

 

If to the Standby Purchasers, as
provided on the signature page hereto.

 

or to such other representative or at such
other address of a party as such party hereto may furnish to the other parties in writing in accordance with this Section 8.

 

Section 9.Entire Agreement.
This Agreement constitutes the entire agreement and understanding among the Standby Purchasers and the Company, and supersedes
all prior agreements and understandings relating to the subject matter hereof.

 

Section 10.Indemnification.
 To the fullest extent permitted by law, each Standby Purchaser hereby agrees to, jointly and severally with such other Standby
Purchaser, indemnify and hold harmless the Company, its affiliates, and their respective directors, officers and authorized agents
from and against any and all losses, claims, damages, expenses and liabilities relating to or arising out of any breach of any
representation, warranty, covenant or undertaking made by or on behalf of each Standby Purchaser in this Agreement.

 

    	5

    	 

    

 

Section 11.Governing Law.
This Agreement shall be governed by and construed in accordance with the internal laws of the State of Delaware.

 

Section 12.Amendments.
This Agreement may be modified or amended only with the written consent of the Company and the Standby Purchasers.

 

Section 13.Severability.
If any provision of this Agreement shall be invalid under the applicable law of any jurisdiction, the remainder of this Agreement
shall not be affected thereby.

 

Section 14.Miscellaneous.

 

(a)Notwithstanding
any term to the contrary herein, no person other than the Company or the Standby Purchasers shall be entitled to rely on and/or
have the benefit of, as a third party beneficiary or under any other theory, any of the representations, warranties, agreements,
covenants or other provisions of this Agreement.

 

(b)The headings
in this Agreement are for purposes of reference only and shall not limit or otherwise affect the meaning of this Agreement.

 

(c)This Agreement
may be executed in any number of counterparts, each of which shall be deemed to be an original, but all of which, when taken together,
shall constitute one and the same instrument.

 

(d)The Standby
Purchasers shall not assign this Agreement or any of their rights hereunder without the Company’s prior written consent.

 

(e)Each party to
this Agreement shall pay his, her or its own costs and expenses (including attorney fees) incurred in connection with the Rights
Offering, the Standby Offering and the other transactions contemplated by this Agreement.

 

[Signature Page Follows]

 

    	6

    	 

    

 

IN WITNESS WHEREOF,
the Standby Purchasers have executed this Agreement on and as of the date first set forth above.

 

	 	STANDBY PURCHASERS:
	 	 	 
	 	SCHULER FAMILY FOUNDATION
	 	 	 
	 	 	 
	 	By:	/s/ Jack Schuler
	 	 	Jack Schuler
	 	 	President
	 	 	 
	 		
	 	 	                                                      
	 	Address for Notices:
	 	 	 
	 	                                                      
	 	                                                      
	 	 	 
	 	 	 
	 	 	 
	 	JACK W. SCHULER LIVING TRUST
	 	 	 
	 	 	 
	 	 	 
	 	/s/ Jack Schuler
	 	Jack Schuler, Trustee of the Jack W. Schuler Living Trust
	 	 	 
	 	 	 
	 	Address for Notices:
	 	 	 
	 	                                                      
	 	                                                      
	 	 	 

 

ACCEPTED AND AGREED:

 

ACCELERATE DIAGNOSTICS, INC.

 

 

	By:	/s/ Steve Reichling	 
	 	Steve Reichling	 
	 	Chief Financial Officer

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