NOW, THEREFORE, for and in consideration of the premises and mutual agreements herein set forth,
the parties hereto, intending to be legally bound, hereby agree as follows:
1. Consent to Amendment.
Effective as of the Closing Date (as defined below), the Holders hereby consent and agree to amend and restate the SPA Warrant Agreements to the form of Restated SPA Warrant Agreement in the form attached hereto as Exhibit A. On or prior to
the Closing (as defined below), the following transactions shall occur:
1.1 Delivery. At or following
Closing, the Company shall deliver a Restated SPA Warrant Agreement, exercisable for the same number of Warrant Shares as are currently exercisable under the SPA Warrant Agreement, to each Holder who has duly surrendered such Holders SPA
Warrant Agreement for cancellation. On the Closing Date, and regardless of whether any Holder has surrendered his, her or its SPA Warrant Agreement for cancellation, (i) the terms and conditions of the SPA Warrant Agreements shall be deemed to
be no longer in effect, (ii) each outstanding SPA Warrant Agreement shall be deemed to represent only the right to receive a substituted Restated SPA Warrant Agreement as a replacement therefor, and (iii) all exercises of the SPA Warrants
shall be deemed to be effectuated pursuant to the terms and conditions of the Restated SPA Warrant Agreements.
1.2 No Default. The Holders acknowledge that, as of the Effective Time, the Holders have no knowledge of any
outstanding defaults under the Securities Purchase Agreement, the SPA Warrants or the other Transaction Documents.
1.3 Other Documents. The Company and the Holder shall execute and/or deliver such other documents and agreements
as are customary and reasonably necessary to effectuate this Consent and Amendment.
1.4 No Additional
Consideration; Section 3(a)(9). The parties acknowledge and agree that the Restated SPA Warrants shall be issued to the Holder in exchange for the SPA Warrants without the payment of any additional consideration. To the extent
the amendments to the SPA Warrants effected hereby represent the issuance of a new security under the federal securities laws, this Consent and Amendment (and the issuance and delivery of the Restated SPA Warrant Agreements in exchange for the
outstanding SPA Warrant Agreements) will be deemed an exchange made in reliance upon the exemption from registration provided by Section 3(a)(9) of the Securities Act.
1.5 Closing. Upon confirmation that the Required Holders have executed this Consent and Amendment, the closing
of the transactions contemplated hereby (the Closing) shall occur on such date or such other later date as is mutually acceptable to the Holders and the Company (the Closing Date).