AMENDMENT NO. 1 TO
FOURTH AMENDED AND RESTATED INVESTORS RIGHTS AGREEMENT
November 10, 2020
This Amendment No. 1 (this Amendment) to that certain Fourth Amended and Restated Investors Rights Agreement, dated as of August 27, 2019 (the Agreement), by and among Progenity, Inc., a Delaware corporation (the Company), the investors listed on Exhibit A thereto (each, an Investor and collectively, the Investors), and the holders of Common Stock listed on Exhibit B thereto. Capitalized terms used in this Amendment that are not otherwise defined herein shall have the respective meanings assigned to them in the Agreement.
WHEREAS, the Company and the Investors desire to amend the Agreement as set forth below;
WHEREAS, the undersigned Investors represent the holders of a majority of the Registrable Securities outstanding on the date of this Amendment and, as such, together with the Company, have the right, power and authority pursuant to Section 4.4 of the Agreement to execute and deliver this Amendment and amend the Agreement in the manner provided herein.
NOW, THEREFORE, in consideration of the mutual promises and covenants contained in this Amendment and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows:
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following defined term on Section 1(a)(xv) of the Agreement is hereby deleted in its entirety and replaced with the following:
Registrable Securities means (i) the shares of Common Stock issuable or issued upon conversion of the Preferred Stock, including any shares of Common Stock issued on or before the date hereof, upon conversion of preferred stock of the Company outstanding at any time, other than shares for which registration rights have terminated pursuant to Section 2.15 hereof, (ii) the shares of Common Stock issued pursuant to the Common Stock Purchase Agreement, dated as of August 8, 2016, by and between the Company and BCI, other than shares for which registration rights have terminated pursuant to Section 2.15 hereof, (iii) the shares of Common Stock issuable or issued upon conversion of the Warrant Shares (or, following a Qualified IPO, issuable upon exercise of the Warrant), other than shares for which registration rights have terminated pursuant to Section 2.15 hereof; (iv) any other shares of Common Stock issued as (or issuable upon the conversion or exercise of any warrant, right or other security which is issued as) a dividend or other distribution with respect to, or in exchange for or in replacement of, the shares listed in clauses (i) through (iii) and clause (v); and (v) shares of Common Stock issuable or issued upon the conversion of the Unsecured Convertible Promissory Note dated May 8, 2020, issued to Athyrium Opportunities 2020 LP; provided, however, that the foregoing definition shall
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