SEC Contract Filing

Filing Date: 2020-02-14

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>tm207883d1_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-transform: uppercase; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-transform: uppercase; text-align: right"><U>EXECUTION
VERSION</U><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-transform: uppercase; text-align: center"><B>STOCK REPURCHASE
AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This STOCK REPURCHASE AGREEMENT (this &ldquo;<U>Agreement</U>&rdquo;)
is made and entered into as of this 13<SUP>th </SUP>day of February, 2020, by and between Dental Holding, LLC (the &ldquo;<U>Stockholder</U>&rdquo;)
and Cantel Medical Corp. (the &ldquo;<U>Company</U>&rdquo; and, together, the &ldquo;<U>Parties</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, as of the date hereof, the Stockholder
is the holder of record of 438,359 shares of common stock of the Company, par value $0.01 per share, issued by the Company to the
Stockholder on October 1, 2019 (the &ldquo;<U>Shares</U>&rdquo;) in connection with the Company&rsquo;s acquisition of all of the
issued and outstanding membership interests of Hu-Friedy Mfg. Co., LLC from the Stockholder (the &ldquo;<U>Hu-Friedy Acquisition</U>&rdquo;)
pursuant to the Purchase and Sale Agreement by and among the Company, the Stockholder, and, for limited purposes set forth therein,
Ken Serota and Ron Saslow, dated as of July 29, 2019 (as amended on December 12, 2019, the &ldquo;<U>Purchase and Sale Agreement</U>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, in connection with the Hu-Friedy
Acquisition, the Parties entered into a Registration Rights Agreement, dated as of October 1, 2019 (as amended on December 12,
2019, the &ldquo;<U>Registration Rights Agreement</U>&rdquo;), and the Company is required, pursuant to Section 7.11 of the Purchase
and Sale Agreement and the Registration Rights Agreement, on the terms and subject to the conditions set forth therein, to file
a registration statement with the U.S. Securities and Exchange Commission covering the resale of the Shares and to effect an underwritten
offering of the Shares (an &ldquo;<U>Offering</U>&rdquo;) on or prior to February 15, 2020 (such requirements, the &ldquo;<U>Resale
Obligation</U>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, pursuant to Section 2.11(a) of
the Purchase and Sale Agreement, if an Offering is completed pursuant to the Registration Rights Agreement and the amount of the
aggregate net proceeds received by the Stockholder in such Offering (the &ldquo;<U>Aggregate Post-Closing Offering Proceeds</U>&rdquo;)
is less than $35,000,117, then the Company is required, on the terms and subject to the conditions set forth therein, to pay to
the Stockholder an amount in cash equal to $35,000,117&nbsp;<U>minus</U>&nbsp;the Aggregate Post-Closing Offering Proceeds (such
requirement, the &ldquo;<U>True-Up Obligation</U>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, pursuant to Section 2.11(b) of
the Purchase and Sale Agreement, in connection with an Offering, the Company may be required, on the terms and subject to the conditions
set forth therein, to make certain payments to the Stockholder in respect of certain tax matters (such requirement, the &ldquo;<U>Tax
Gross-Up Obligation</U>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, in lieu of the Company completing
an Offering, the Parties desire to enter into this Agreement to cause the Shares to be repurchased by the Company and to satisfy
all of their rights and obligations with respect to the Resale Obligation, the True-Up Obligation and the Tax Gross-Up Obligation
and to terminate the Registration Rights Agreement effective as of and conditional upon the Closing (as defined below) and without
any continuing liability or obligation of either Party, in each case on the terms and subject to the conditions set forth herein;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">NOW, THEREFORE, in consideration of the
foregoing and the representations, warranties, covenants and agreements set forth herein, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">ARTICLE I<BR>
Repurchase of Shares;