AGILE THERAPEUTICS INC
EX-10.1
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>agrx-20220930xex10d1.htm
<DESCRIPTION>EX-10.1
<TEXT>
<!--Enhanced HTML document created with Toppan Merrill Bridge  9.14.0.96--><!--Created on: 11/7/2022 07:31:07 PM (UTC)--><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head><meta charset="UTF-8"><title></title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times';font-size:12pt;font-variant:small-caps;font-weight:bold;line-height:14pt;text-align:right;margin:0pt;">exhibit 10.1</p><p style="font-family:'Times';font-size:12pt;font-variant:small-caps;font-weight:bold;line-height:14pt;text-align:center;margin:0pt;"><font style="font-size:14pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times';font-size:12pt;font-variant:small-caps;font-weight:bold;line-height:14pt;text-align:center;margin:0pt;">Fifth Amendment to Credit Agreement and Guaranty</p><p style="font-family:'Times';font-size:12pt;line-height:14pt;text-align:justify;text-indent:36pt;margin:14pt 0pt 0pt 0pt;">This Fifth Amendment to Credit Agreement and Guaranty (herein, this <i style="font-style:italic;">&#8220;Agreement&#8221;</i>) is entered into as of July 25, 2022 (the &#8220;<i style="font-style:italic;">Fifth Amendment Effective Date</i>&#8221;), by and among Agile Therapeutics, Inc., a Delaware corporation (the &#8220;<i style="font-style:italic;">Borrower</i>&#8221;), the Lenders party hereto (each a <i style="font-style:italic;">&#8220;Lender&#8221;</i> and collectively, the &#8220;<i style="font-style:italic;">Lenders&#8221;</i>) and Perceptive Credit Holdings III, LP, a Delaware limited partnership, as a lender and as administrative agent for the Lenders (in such capacity, together with its successors and assigns, the &#8220;<i style="font-style:italic;">Administrative Agent</i>&#8221;).</p><p style="font-family:'Times';font-size:12pt;line-height:14pt;text-align:center;text-indent:36pt;margin:14pt 0pt 0pt 0pt;"><b style="font-variant:small-caps;font-weight:bold;letter-spacing:2pt;">Recital</b><b style="font-variant:small-caps;font-weight:bold;">s</b><b style="font-weight:bold;">:</b></p><p style="font-family:'Times';font-size:12pt;line-height:1.19;text-align:justify;text-indent:0pt;margin:0pt;"><font style="display:inline-block;text-align:left;width:35.13pt;"></font>A.<font style="display:inline-block;width:15.1pt;"></font>The Lenders have extended credit to the Borrower on the terms and conditions set forth in that certain Credit Agreement and Guaranty, dated as of February 10, 2020 (as amended by that certain Waiver and First Amendment to Credit Agreement and Guaranty dated as of February 26, 2021, that certain Waiver and Second Amendment to Credit Agreement and Guaranty dated as of January 7, 2022, that certain Waiver and Third Amendment to Credit Agreement and Guaranty dated as of March 10, 2022 and that certain Fourth Amendment to Credit Agreement and Guaranty dated as of May 11, 2022, the <i style="font-style:italic;">&#8220;Existing</i> <i style="font-style:italic;">Credit Agreement&#8221;</i>; the Existing Credit Agreement as amended by this Agreement, the &#8220;<i style="font-style:italic;">Credit Agreement</i>&#8221;). &#160; </p><p style="font-family:'Times';font-size:12pt;line-height:1.19;text-align:justify;text-indent:0pt;margin:0pt;"><font style="line-height:14pt;margin-top:14pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times';font-size:12pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"></font>B. <font style="display:inline-block;width:22pt;"></font>In connection with the Credit Agreement, the Borrower issued the Warrants.</p><p style="font-family:'Times';font-size:12pt;line-height:1.19;text-align:justify;margin:0pt;"><font style="line-height:14pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times';font-size:12pt;line-height:1.19;text-align:justify;text-indent:0pt;margin:0pt;"><font style="display:inline-block;text-align:left;width:32.8pt;"></font>C. <font style="display:inline-block;width:15.1pt;"></font><font style="display:inline-block;width:10.1pt;"></font>The Borrower desires to sell the equipment (the &#8220;<i style="font-style:italic;">Transferred Assets</i>&#8221;) explicitly listed on the bill of sale, a form of which is attached as Schedule 1 hereto, between the Borrower and Corium, Inc. (the &#8220;<i style="font-style:italic;">Bill of Sale</i>&#8221;). <font style="display:inline-block;width:0.05pt;"></font></p><p style="font-family:'Times';font-size:12pt;line-height:14pt;text-align:justify;text-indent:0pt;margin:14pt 0pt 0pt 0pt;"><font style="display:inline-block;text-align:left;width:32.13pt;"></font>D. <font style="display:inline-block;width:15.1pt;"></font>The Borrower has requested that the Administrative Agent and the Lenders agree to amend certain provisions of the Existing Credit Agreement to permit the sale of the Transferred Assets pursuant to the Bill of Sale. </p><p style="font-family:'Times';font-size:12pt;line-height:14pt;text-align:justify;text-indent:0pt;margin:14pt 0pt 0pt 0pt;"><font style="display:inline-block;text-align:left;width:33.47pt;"></font>E. <font style="display:inline-block;width:15.1pt;"></font>The parties hereto agree to amend the Existing Credit Agreement pursuant to the terms of this Agreement.</p><p style="font-family:'Times';font-size:12pt;line-height:14pt;text-align:justify;text-indent:36pt;margin:14pt 0pt 0pt 0pt;"><font style="font-variant:small-caps;">Now, Therefore</font>, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:</p><p style="font-family:'Times';font-size:12pt;line-height:14pt;text-align:justify;text-indent:36pt;margin:0pt;"><font style="font-size:14pt;margin-top:14pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times';font-size:12pt;line-height:14pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:36pt;"><font style="display:inline-block;min-width:10.8pt;text-indent:0pt;white-space:nowrap;">1.</font><i style="font-style:italic;">Incorporation of Recitals; Defined Terms.</i> &#160;The parties hereto acknowledge that the Recitals set forth above are true and correct in all material respects. &#160;The defined terms in the Recitals set forth above are hereby incorporated into this Agreement by reference. &#160;All other capitalized terms used herein without definition shall have the same meanings herein as such terms have in the Credit Agreement. </div><p style="font-family:'Times';font-size:12pt;line-height:14pt;text-align:justify;text-indent:0pt;margin:0pt;"><font style="font-size:14pt;margin-top:14pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:36pt;"><font style="display:inline-block;min-width:10.8pt;text-indent:0pt;white-space:nowrap;">2.</font><i style="font-style:italic;">Fifth Amendment to Existing Credit Agreement</i>. &#160; Upon satisfaction of the conditions set forth in Section 5 hereof, the Borrower, the Lenders and the Administrative Agent hereby agree that the Existing Credit Agreement is hereby amended by incorporating the changes shown on the </div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:11.76%;margin-right:11.76%;margin-top:30pt;page-break-after:always;width:76.47%;border-width:0;"><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><div style="font-family:'Times';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;">marked copy of the Existing Credit Agreement attached hereto as Annex A. &#160;Deletions of text in the Existing Credit Agreement as amended hereby are indicated by struck-through red text, and insertions of text as amended hereby are indicated by underlined blue text. &#160;Attached hereto as Annex B is a clean copy of the Credit Agreement conformed through the Fifth Amendment. &#160; </div><p style="font-family:'Times';font-size:12pt;line-height:14pt;text-align:justify;text-indent:0pt;margin:0pt;"><font style="font-size:14pt;margin-top:14pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times';font-size:12pt;line-height:14pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:36pt;"><font style="display:inline-block;min-width:10.8pt;text-indent:0pt;white-space:nowrap;">3.</font><i style="font-style:italic;">Partial Release and Acknowledgement of Liens</i>. &#160;</div><div style="margin-top:14pt;"></div><div style="font-family:'Times';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-left:31.7pt;margin-top:0pt;text-align:justify;text-indent:46.8pt;"><font style="display:inline-block;min-width:29.5pt;text-indent:0pt;white-space:nowrap;">(A)</font>Upon satisfaction of the conditions set forth in Section 5 hereof and consummation of the purchase and sale transaction contemplated by the Bill of Sale, all Liens on the Transferred Assets granted to or created in favor of the Administrative Agent as security for the Obligations, including without limitation all Liens on and any other security interest in the Transferred Assets created by or granted or arising under each of the Security Documents, shall automatically terminate and be released and discharged, without any further action by the Borrower, the Administrative Agent or any other Person. &#160;</div><div style="font-family:'Times';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-left:31.7pt;margin-top:14pt;text-align:justify;text-indent:46.8pt;"><font style="display:inline-block;min-width:29.5pt;text-indent:0pt;white-space:nowrap;">(B)</font>The Borrower hereby acknowledges and agrees that, except as specified in Section 3(a) hereof, the Obligations owing to the Administrative Agent and the Lenders arising out of or in any manner relating to the Loan Documents shall continue to be secured by the Liens granted as security therefor in the Loan Documents, to the extent provided for in the Loan Documents heretofore executed and delivered by the Borrower;<b style="font-weight:bold;"> </b>and, except as specified in Section 3(a) hereof, nothing herein contained shall in any manner affect or impair the priority of the Liens created and provided for thereby as to the indebtedness, obligations, and liabilities which would be secured thereby prior to giving effect to this Agreement. &#160;</div><p style="font-family:'Times';font-size:12pt;line-height:14pt;text-align:justify;text-indent:0pt;margin:0pt 0pt 0pt 36pt;"><font style="font-size:14pt;margin-left:0pt;margin-top:14pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times';font-size:12pt;line-height:14pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:36pt;"><font style="display:inline-block;min-width:10.8pt;text-indent:0pt;white-space:nowrap;">4.</font><i style="font-style:italic;">Representations And Warranties. &#160;</i>In order to induce the Administrative Agent and the Lenders to enter into this Agreement, the Borrower hereby represents and warrants to the Administrative Agent and the Lenders as follows:</div><div style="margin-top:14pt;"></div><div style="font-family:'Times';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-left:31.7pt;margin-top:0pt;text-align:justify;text-indent:46.8pt;"><font style="display:inline-block;min-width:29.5pt;text-indent:0pt;white-space:nowrap;">(A)</font>After giving effect to this Agreement, the representations and warranties of the Borrower contained in Article 7 of the Credit Agreement and in each other Loan Document shall be true and correct in all material respects on and as of the date hereof; provided that to the extent that such representations and warranties specifically refer to an earlier date, they shall be true and correct in all material respects as of such earlier date; provided further that any representation and warranty that is qualified as to &#8220;materiality&#8221;, &#8220;Material Adverse Effect&#8221; or similar language shall be true and correct (after giving effect to any qualification therein) in all respects on such respective dates. </div><div style="font-family:'Times';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-left:31.7pt;margin-top:14pt;text-align:justify;text-indent:46.8pt;"><font style="display:inline-block;min-width:29.5pt;text-indent:0pt;white-space:nowrap;">(B)</font>The execution, delivery and performance of this Agreement has been duly authorized by all necessary corporate action on the part of, and duly executed and delivered by, the Borrower. &#160;</div><div style="font-family:'Times';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-left:31.7pt;margin-top:14pt;text-align:justify;text-indent:46.8pt;"><font style="display:inline-block;min-width:29.5pt;text-indent:0pt;white-space:nowrap;">(C)</font>No Default or Event of Default has occurred and is continuing or shall occur and be continuing immediately after giving effect to this Agreement.<font style="display:inline-block;width:34.41pt;"></font></div><p style="font-family:'Times';font-size:12pt;line-height:14pt;text-align:justify;text-indent:0pt;margin:0pt 0pt 0pt 36pt;"><font style="font-size:14pt;font-style:italic;margin-left:0pt;margin-top:14pt;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:11.76%;margin-right:11.76%;margin-top:30pt;page-break-after:always;width:76.47%;border-width:0;"><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><div style="font-family:'Times';font-size:12pt;line-height:14pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:36pt;"><font style="display:inline-block;min-width:10.8pt;text-indent:0pt;white-space:nowrap;">5.</font><i style="font-style:italic;">Conditions Precedent.</i> &#160;The effectiveness of this Agreement is subject to the satisfaction of the following conditions precedent: </div><div style="margin-top:14pt;"></div><div style="font-family:'Times';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-left:31.7pt;margin-top:0pt;text-align:justify;text-indent:46.8pt;"><font style="display:inline-block;min-width:29.5pt;text-indent:0pt;white-space:nowrap;">(A)</font>The Administrative Agent and the Lenders shall have received executed counterparts of this Agreement duly executed and delivered by the Borrower</div><div style="font-family:'Times';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-left:31.7pt;margin-top:14pt;text-align:justify;text-indent:46.8pt;"><font style="display:inline-block;min-width:29.5pt;text-indent:0pt;white-space:nowrap;">(B)</font>The Borrower shall have repaid $7,000,000 of the outstanding principal amount of the Term Loans on or immediately prior to the Fifth Amendment Effective Date (the &#8220;<i style="font-style:italic;">Fifth Amendment Prepayment</i>&#8221;), such that the outstanding principal amount of the Terms Loans, as of the Fifth Amendment Effective Date, shall be $3,000,000. Notwithstanding the terms of the Credit Agreement, no Prepayment Premium shall be due and payable with respect to the Fifth Amendment Prepayment. </div><div style="font-family:'Times';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-left:31.7pt;margin-top:14pt;text-align:justify;text-indent:46.8pt;"><font style="display:inline-block;min-width:29.5pt;text-indent:0pt;white-space:nowrap;">(C)</font>The Administrative Agent shall have received reasonably satisfactory certificates as to adjustments pursuant to Section 3.1(h) of the Warrants. &#160;</div><p style="font-family:'Times';font-size:12pt;line-height:1.19;text-align:justify;text-indent:0pt;margin:0pt 0pt 0pt 78.5pt;"><font style="line-height:14pt;margin-left:0pt;margin-top:14pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times';font-size:12pt;line-height:14pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:36pt;"><font style="display:inline-block;min-width:10.8pt;text-indent:0pt;white-space:nowrap;">6.</font><i style="font-style:italic;">Reference to and Effect on the Loan Documents; No Novation.</i></div><div style="margin-top:14pt;"></div><div style="font-family:'Times';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-left:31.7pt;margin-top:0pt;text-align:justify;text-indent:46.8pt;"><font style="display:inline-block;min-width:29.5pt;text-indent:0pt;white-space:nowrap;">(A)</font>This Agreement constitutes a Loan Document. &#160;On and after the date hereof, words of like import referring to the Credit Agreement, and each reference in the other Loan Documents to the &#8220;Credit Agreement&#8221;, &#8220;thereunder&#8221;, &#8220;thereof&#8221; or words of like import referring to the Credit Agreement shall mean and be a reference to the Credit Agreement after giving effect to this Agreement.</div><div style="font-family:'Times';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-left:31.7pt;margin-top:14pt;text-align:justify;text-indent:46.8pt;"><font style="display:inline-block;min-width:29.5pt;text-indent:0pt;white-space:nowrap;">(B)</font>Except as specifically set forth in this Agreement, the Credit Agreement and the other Loan Documents shall remain in full force and effect and are hereby ratified and confirmed.</div><div style="font-family:'Times';font-size:12pt;line-height:1.19;margin-bottom:0pt;margin-left:31.7pt;margin-top:14pt;text-align:justify;text-indent:46.8pt;"><font style="display:inline-block;min-width:29.5pt;text-indent:0pt;white-space:nowrap;">(C)</font><font style="font-family:'Times New Roman','Times','serif';">Except as expressly set forth in this Agreement, the Loan Documents and all of the obligations of the Loan Parties thereunder and the rights and benefits of the Administrative Agent and the Lenders thereunder remain in full force and effect. This Agreement is not a novation nor is it to be construed as a release, waiver or modification of any of the terms, conditions, representations, warranties, covenants, rights or remedies set forth in the Loan Documents, except as specifically set forth herein. Without limiting the foregoing, the Loan Parties agree to comply with all of the terms, conditions, and provisions of the Loan Documents except to the extent such compliance is irreconcilably inconsistent with the express provisions of this Agreement. This Agreement may not be amended, supplemented, or otherwise modified except by a written agreement entered into in accordance with Section 13.04 of the Credit Agreement. T</font><font style="font-family:'Times New Roman','Times','serif';font-size:9.5pt;">HIS </font><font style="font-family:'Times New Roman','Times','serif';">A</font><font style="font-family:'Times New Roman','Times','serif';font-size:9.5pt;">GREEMENT REPRESENTS THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR</font><font style="font-family:'Times New Roman','Times','serif';">, </font><font style="font-family:'Times New Roman','Times','serif';font-size:9.5pt;">CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES</font><font style="font-family:'Times New Roman','Times','serif';">. T</font><font style="font-family:'Times New Roman','Times','serif';font-size:9.5pt;">HERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.</font></div><p style="font-family:'Times';font-size:12pt;line-height:14pt;text-align:justify;text-indent:0pt;margin:0pt;"><font style="font-size:14pt;margin-top:14pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times';font-size:12pt;line-height:14pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:36pt;"><font style="display:inline-block;min-width:10.8pt;text-indent:0pt;white-space:nowrap;">7.</font><i style="font-style:italic;">Headings</i>. &#160;The headings in this Agreement are included for convenience of reference only and will not affect in any way the meaning or interpretation of this Agreement.</div><p style="font-family:'Times';font-size:12pt;line-height:14pt;text-align:justify;text-indent:0pt;margin:0pt 0pt 0pt 36pt;"><font style="font-size:14pt;margin-left:0pt;margin-top:14pt;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:11.76%;margin-right:11.76%;margin-top:30pt;page-break-after:always;width:76.47%;border-width:0;"><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><div style="font-family:'Times';font-size:12pt;line-height:14pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:36pt;"><font style="display:inline-block;min-width:10.8pt;text-indent:0pt;white-space:nowrap;">8.</font><i style="font-style:italic;">Governing Law</i>. &#160;This Agreement, and all questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by and construed and enforced in accordance with the internal laws of the State of New York.</div><p style="font-family:'Times';font-size:12pt;line-height:14pt;text-align:justify;text-indent:0pt;margin:0pt 0pt 0pt 36pt;"><font style="font-size:14pt;margin-left:0pt;margin-top:14pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times';font-size:12pt;line-height:14pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:36pt;"><font style="display:inline-block;min-width:10.8pt;text-indent:0pt;white-space:nowrap;">9.</font><i style="font-style:italic;white-space:pre-wrap;"> </i><i style="font-style:italic;">Incorporation of Sections 13.10 and 13.11 of the Credit Agreement</i>. &#160;The provisions set forth in Sections 13.10 (Jurisdiction, Service of Process and Venue) and 13.11 (Waiver of Jury Trial) of the Credit Agreement shall apply to this Agreement in all respects.</div><p style="font-family:'Times';font-size:12pt;line-height:14pt;text-align:justify;text-indent:0pt;margin:0pt;"><font style="font-size:14pt;margin-top:14pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times';font-size:12pt;line-height:14pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:36pt;"><font style="display:inline-block;min-width:25.9pt;text-indent:0pt;white-space:nowrap;">10.</font><i style="font-style:italic;">Counterparts</i>. &#160;This Agreement may be executed in any number of counterparts and by different parties on separate counterparts, each of which, when executed and delivered, shall be deemed to be an original, and all of which, when taken together, shall constitute but one and the same Agreement. &#160;Delivery of an executed counterpart of this Agreement by facsimile, DocuSign or a scanned copy by electronic mail shall be equally as effective as delivery of an original executed counterpart of this Agreement. </div><p style="font-family:'Times';font-size:12pt;line-height:14pt;text-align:justify;text-indent:0pt;margin:0pt 0pt 0pt 36pt;"><font style="font-size:14pt;margin-left:0pt;margin-top:14pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times';font-size:12pt;line-height:14pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:36pt;"><font style="display:inline-block;min-width:25.9pt;text-indent:0pt;white-space:nowrap;">11.</font><i style="font-style:italic;">Severability</i>. &#160;If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule of law, or public policy, all other conditions and provisions of this Agreement will nevertheless remain in full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner adverse to any party. &#160;Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto will negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in an acceptable manner to the end that the transactions contemplated hereby are fulfilled to the extent possible. &#160;</div><p style="font-family:'Times';font-size:12pt;line-height:14pt;text-align:justify;text-indent:0pt;margin:0pt 0pt 0pt 36pt;"><font style="font-size:14pt;margin-left:0pt;margin-top:14pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times';font-size:12pt;line-height:14pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:36pt;"><font style="display:inline-block;min-width:25.9pt;text-indent:0pt;white-space:nowrap;">12.</font><i style="font-style:italic;">Binding Effect</i>. &#160;This Agreement will be binding upon and inure to the benefit of and is enforceable by the respective successors and permitted assigns of the parties hereto. &#160;</div><p style="font-family:'Times';font-size:12pt;font-variant:small-caps;font-weight:bold;line-height:14pt;text-align:center;margin:20pt 0pt 0pt 0pt;"><font style="font-weight:normal;">[Signature Pages to Follow]</font></p><p style="display:none;font-family:'Times';font-size:12pt;line-height:0pt;margin:0pt;"><font style="font-size:0pt;line-height:14pt;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:11.76%;margin-right:11.76%;margin-top:30pt;page-break-after:always;width:76.47%;border-width:0;"><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times';font-size:12pt;line-height:14pt;text-align:justify;text-indent:36pt;margin:14pt 0pt 6pt 0pt;">IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and delivered by their respective officers thereunto duly authorized as of the date first written above.</p><p style="font-family:'Times';font-size:12pt;min-height:14.0pt;padding-left:18pt;text-indent:-18pt;margin:14pt 0pt 0pt 234pt;"><font style="font-variant:small-caps;">AGILE THERAPEUTICS, INC., </font>as Borrower</p><table border="0" cellpadding="0" cellspacing="0"><tr><td style="width:234pt;padding:0pt;"></td><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;"><p style="font-family:'Times';font-size:12pt;margin-bottom:0pt;margin-top:28pt;min-height:14.0pt;">By:</p></td><td style="padding:0pt;"><p style="font-family:'Times';font-size:12pt;margin-bottom:0pt;margin-top:28pt;min-height:14.0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">/s/ Al Altomari</u><font style="bottom:3.0957031pt;display:inline-block;height:1em;width:143.34pt;border-bottom:1.0px solid #000000;"></font></p></td></tr></table><p style="font-family:'Times';font-size:12pt;min-height:14.0pt;padding-left:18pt;text-indent:-18pt;margin:0pt 0pt 0pt 234pt;"><font style="display:inline-block;width:18pt;"></font>Name: Al Altomari</p><p style="font-family:'Times';font-size:12pt;min-height:14.0pt;padding-left:18pt;text-indent:-18pt;margin:0pt 0pt 0pt 234pt;"><font style="display:inline-block;width:18pt;"></font>Title: Chairman and CEO</p><p style="font-family:'Times';font-size:12pt;min-height:14.0pt;text-indent:0pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times';font-size:12pt;min-height:14.0pt;padding-left:18pt;text-indent:-18pt;margin:14pt 0pt 0pt 234pt;"><font style="margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="display:none;font-family:'Times';font-size:12pt;line-height:0pt;margin:0pt;"><font style="font-size:0pt;line-height:14pt;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:11.76%;margin-right:11.76%;margin-top:30pt;page-break-after:always;width:76.47%;border-width:0;"><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times';font-size:12pt;min-height:14.0pt;padding-left:18pt;text-indent:-18pt;margin:0pt 0pt 0pt 234pt;"><font style="font-variant:small-caps;">PERCEPTIVE CREDIT HOLDINGS&#160;III, LP,</font></p><p style="font-family:'Times';font-size:12pt;min-height:14.0pt;padding-left:18pt;text-indent:-18pt;margin:0pt 0pt 0pt 234pt;">as Agent and Lender</p><p style="font-family:'Times';font-size:12pt;min-height:14.0pt;padding-left:18pt;text-indent:-18pt;margin:0pt 0pt 0pt 234pt;"><font style="margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times';font-size:12pt;min-height:14.0pt;padding-left:18pt;text-indent:-18pt;margin:0pt 0pt 0pt 234pt;"><font style="white-space:pre-wrap;">By:  Perceptive Credit Opportunities GP, LLC, its general partner</font></p><table border="0" cellpadding="0" cellspacing="0"><tr><td style="width:234pt;padding:0pt;"></td><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;"><p style="font-family:'Times';font-size:12pt;margin-bottom:0pt;margin-top:28pt;min-height:14.0pt;">By:</p></td><td style="padding:0pt;"><p style="font-family:'Times';font-size:12pt;margin-bottom:0pt;margin-top:28pt;min-height:14.0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">/s/ Sandeep Dixit</u><font style="bottom:3.0957031pt;display:inline-block;height:1em;width:133.34pt;border-bottom:1.0px solid #000000;"></font></p></td></tr></table><p style="font-family:'Times';font-size:12pt;min-height:14.0pt;padding-left:18pt;text-indent:-18pt;margin:0pt 0pt 0pt 234pt;"><font style="display:inline-block;width:18pt;"></font>Name: Sandeep Dixit</p><p style="font-family:'Times';font-size:12pt;line-height:1.19;padding-left:18pt;text-indent:-18pt;margin:0pt 0pt 0pt 234pt;"><font style="display:inline-block;width:18pt;"></font>Title: Chief Credit Officer </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:14pt 0pt 0pt 0pt;"><font style="margin-bottom:5pt;margin-top:5pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0"><tr><td style="width:234pt;padding:0pt;"></td><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;"><p style="font-family:'Times';font-size:12pt;margin-bottom:0pt;margin-top:14pt;min-height:14.0pt;">By:</p></td><td style="padding:0pt;"><p style="font-family:'Times';font-size:12pt;margin-bottom:0pt;margin-top:14pt;min-height:14.0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">/s/ Sam Chawla</u><font style="bottom:3.0957031pt;display:inline-block;height:1em;width:140.67pt;border-bottom:1.0px solid #000000;"></font></p></td></tr></table><p style="font-family:'Times';font-size:12pt;min-height:14.0pt;padding-left:18pt;text-indent:-18pt;margin:0pt 0pt 0pt 234pt;"><font style="display:inline-block;width:18pt;"></font>Name: Sam Chawla</p><p style="font-family:'Times';font-size:12pt;min-height:14.0pt;padding-left:18pt;text-indent:-18pt;margin:0pt 0pt 0pt 234pt;"><font style="display:inline-block;width:18pt;"></font>Title: Portfolio Manager </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.19;margin:14pt 0pt 0pt 0pt;"><font style="margin-bottom:5pt;margin-top:5pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times';font-size:12pt;min-height:14.0pt;padding-left:18pt;text-indent:-18pt;margin:14pt 0pt 0pt 234pt;"><font style="font-variant:small-caps;margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="display:none;font-family:'Times';font-size:12pt;line-height:0pt;margin:0pt;"><font style="font-size:0pt;line-height:14pt;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:11.76%;margin-right:11.76%;margin-top:30pt;page-break-after:always;width:76.47%;border-width:0;"><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times';font-size:12pt;font-variant:small-caps;font-weight:bold;line-height:14pt;text-align:center;margin:0pt;"> <font style="font-size:14pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times';font-size:12pt;line-height:14pt;margin:0pt;"><font style="font-size:14pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times';font-size:12pt;line-height:14pt;margin:0pt;"><font style="font-size:14pt;font-variant:small-caps;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times';font-size:12pt;line-height:14pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">SCHEDULE 1</b></p><p style="font-family:'Times';font-size:12pt;line-height:14pt;margin:0pt;"><font style="font-size:14pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times';font-size:12pt;line-height:14pt;margin:0pt;"><font style="font-size:14pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times';font-size:12pt;line-height:14pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Bill of Sale</b></p><p style="font-family:'Times';font-size:12pt;line-height:14pt;text-align:center;margin:0pt;"><font style="font-size:14pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="display:none;font-family:'Times';font-size:12pt;line-height:0pt;margin:0pt;"><font style="font-size:0pt;font-weight:bold;line-height:14pt;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:11.76%;margin-right:11.76%;margin-top:30pt;page-break-after:always;width:76.47%;border-width:0;"><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times';font-size:12pt;line-height:14pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">ANNEX A </b></p><p style="font-family:'Times';font-size:12pt;line-height:14pt;margin:0pt;"><font style="font-size:14pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times';font-size:12pt;line-height:14pt;margin:0pt;"><font style="font-size:14pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times';font-size:12pt;line-height:14pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Marked Credit Agreement</b></p><p style="font-family:'Times';font-size:12pt;line-height:14pt;text-align:center;margin:0pt;"><font style="font-size:14pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times';font-size:12pt;line-height:14pt;text-align:center;margin:0pt;"><font style="font-size:14pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="display:none;font-family:'Times';font-size:12pt;line-height:0pt;margin:0pt;"><font style="font-size:0pt;font-weight:bold;line-height:14pt;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:11.76%;margin-right:11.76%;margin-top:30pt;page-break-after:always;width:76.47%;border-width:0;"><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times';font-size:12pt;line-height:14pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">ANNEX B </b></p><p style="font-family:'Times';font-size:12pt;line-height:14pt;margin:0pt;"><font style="font-size:14pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times';font-size:12pt;line-height:14pt;margin:0pt;"><font style="font-size:14pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times';font-size:12pt;line-height:14pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Conformed Credit Agreement</b></p><p style="font-family:'Times';font-size:12pt;line-height:14pt;text-align:center;margin:0pt;"><font style="font-size:14pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times';font-size:12pt;line-height:14pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">(Fifth Amendment)</b></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-left:11.76%;margin-right:11.76%;margin-top:30pt;page-break-after:avoid;width:76.47%;border-width:0;"></body></html>
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