Company: IXHL
Filing Date: 2025-05-16
Form Type: DEFA14A
Source: 0001213900-25-044454
Chunk: 7

Company: Incannex Healthcare Inc.
Filing Date: 2025-05-16
Form: DEFA14A
Chunk 7
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 in Section 4.12(c) of the Purchase Agreement, including an exception for sales of Common Stock
pursuant to the ATM Facility at a price no less than $1.08.

The Investor hereby waives
the SPA Share Reserve Provision such that the Company may reserve for issuance under the ATM Facility any of the authorized shares of
Common Stock that would otherwise be reserved for issuance under the Investor’s Series A Warrant, with the understanding that (i)
the Company may issue sell such shares pursuant to the ATM Facility at any time from and after the date hereof and before the date that
the Stockholder Approval is obtained (the “Permitted ATM Sales”), and (ii) following the receipt of the Stockholder
Approval with respect to the Authorized Share Increase (as defined in the Series A Warrant), the Company shall reserve the Required Reserve
Amount (as defined in the Series A Warrant) after giving effect to any Warrant Cancellation (as defined below).

The Investor hereby waives
the Registration Rights Provision and consents to the Company disclosing this letter agreement in its SEC Reports.

The Investor hereby waives
the Subsequent Equity Sale Restrictions with respect to any Permitted ATM Sales, whether or not the price is greater than or less than
$1.08.

Any aggregate net proceeds
to the Company from the Permitted ATM Sales, with such net proceeds being the gross proceeds less the placement agent fee of 3.0% of the
gross proceeds to the Company from the Permitted ATM Sales and deal related legal expenses of up to $95,000 (the “Net Proceeds”),
up to $12,499,828 in the aggregate during the period commencing on the date hereof and ending the day immediately prior to receipt of
the Stockholder Approval, will be paid by the Company to the Investor and the other purchasers in the Private Placement, in accordance
with the procedures set forth in the next paragraph, with the Investor receiving its pro rata portion of the Net Proceeds (based on the
proportion the Investor’s Subscription Amount bears to the aggregate subscription amount of all purchasers in the Private Placement)
received during the period commencing on the date hereof and ending on the earlier of (i) the date the Company raises $12,499,828 in Net
Proceeds from the Permitted ATM Sales or (ii) the day immediately prior the Stockholder Approval up to a maximum amount equal to the Investor’s
Subscription Amount (the “Warrant Cancellation