Amendment No. 2 to Registration Rights Agreement, dated February 10, 2021, between AgeX Therapeutics, Inc. and Juvenescence Limited
AMENDMENT NO. 2
REGISTRATION RIGHTS AGREEMENT
This Amendment No. 2, dated as of February 10, 2021 (the “Amendment”), is entered into by and between AgeX Therapeutics, Inc., a California corporation (the “Company”) and Juvenescence, Limited, a company incorporated in the Isle of Man (the “Holder”). Capitalized terms used in this Amendment and not otherwise defined herein shall have the meanings ascribed thereto in the Registration Rights Agreement (as defined below).
WHEREAS, the Company and Holder are parties to that certain Registration Rights Agreement dated as of August 13, 2019 (as amended by Amendment No. 1 thereto dated March 30, 2020, the “Registration Rights Agreement”);
WHEREAS, the Company and Holder are entering into an amendment to the Loan Agreement dated as of the date hereof providing for an increased commitment of US$4,000,000 thereunder, such that the total commitment under the Loan Agreement shall be US$6,000,000, subject to the terms and conditions outlined therein (the “2019 Loan Amendment”); and
WHEREAS, in connection with the 2019 Loan Amendment, the Company and Holder have agreed to amend the Registration Rights Agreement as provided herein.
NOW THEREFORE, in consideration of the terms and conditions set forth herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:
1. Amendments to Registration Rights Agreement.
1.1. Section 1(e) through 1(i) of the Registration Rights Agreement is hereby deleted and replaced with the following:
(e) “Loan Agreement” means the Loan Facility Agreement between the Company and Holder, dated August 13, 2019, as amended, and as may be further amended from time to time.
(f) “Registrable Securities” means the Shares and Warrants. Any securities that are (i) distributed as a dividend or otherwise with respect to Registrable Securities, (ii) issuable upon the exercise or conversion of Registrable Securities, or (iii) issued or issuable in exchange for or through conversion of Registrable Securities pursuant to a recapitalization, stock-split, reorganization, merger, consolidation or other transaction shall also constitute Registrable Securities.
(g) “Second Loan Agreement” means the Secured Convertible Facility Agreement between the Company, as borrower thereunder, Holder, as lender thereunder, and the subsidiaries of the Company named therein, as guarantors, as may amended from time to time.
(h) “Shares” means, collectively, any and all shares of common stock, par value $0.0001 per share, of the Company issued or to be issued by the Company pursuant to the terms of the Loan Agreement or the Second Loan Agreement, including any shares of common stock issuable by the Company pursuant to the exercise of Warrants or the conversion of any amounts outstanding under the Loan Agreement or the Second Loan Agreement pursuant to the respective terms thereof.
(i) “Warrants” means, collectively, any and all common stock purchase warrants issued or to be issued by the Company pursuant to the terms of the Loan Agreement or the Second Loan Agreement, including any shares of common stock issuable by the Company pursuant to the exercise of Warrants or the conversion of any amounts outstanding under the Loan Agreement or the Second Loan Agreement, in each case as such number may be adjusted pursuant to the terms thereof.
1.2. Each reference to the defined term “Warrant Shares” in the Registration Rights Agreement is hereby deleted:
2. Effect. Except as specifically amended by this Amendment, the Registration Rights Agreement shall remain in full force and effect and is hereby ratified and confirmed.
3. Governing Law. This Amendment shall be governed in all respects by the laws of the State of California, as applied to contracts entered into in California between California residents and to be performed entirely within California.
4. Counterparts. This Amendment may be executed in any number of counterparts (including by separate counterpart signature pages), each of which shall be an original, but all of which together shall constitute one instrument. Any counterpart of this Agreement may be signed by electronic or facsimile, and such electronic or facsimile signature shall be deemed an original signature.
[signature page follows]
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.
|AGEX THERAPEUTICS, INC.|
|By:||/s/ Andrea Park|
|By||Andrea Park, Chief Financial Officer|
|By:||/s/ David Ellam|
|Title:||Chief Financial Officer|