Exhibit 10.3


 


SUBSCRIPTION AGREEMENT


 


This Subscription Agreement (this “Agreement”)
has been executed by the purchaser set forth on the signature page hereof (the “Purchaser”) in connection
with the private placement offering (the “Offering”) by Lola One Acquisition Corporation (to be renamed
“Amesite Inc.” upon consummation of the Merger (as defined below)), a Delaware corporation (the “Company”).


 


R E C I T A L S


 


A. The
Company is offering a minimum of 2,000,000 shares of the Company’s common stock, par value $0.0001 per share (“Common
Stock”), at a purchase price of $1.50 per share (the “Purchase Price”), for an aggregate
purchase price of approximately $3,000,000 (the “Minimum Offering Amount”), and a maximum of 4,666,667
shares of Common Stock at the Purchase Price for an aggregate Purchase Price of approximately $7,000,000 (the “Maximum
Offering Amount”). The Company may also sell an additional 2,000,000 shares of Common Stock at the Purchase Price
for an aggregate Purchase Price of approximately $3,000,000 to cover over-subscriptions (the “Over-Subscription Option”),
in the event the Offering is oversubscribed.


 


B. The
Initial Closing (as defined below) of no less than the Minimum Offering Amount and the Insider Investment (as defined below) is
contingent upon the closing of a merger in accordance with the terms of that certain Agreement and Plan of Merger and Reorganization,
dated on or prior to the date hereof (the “Merger Agreement”), among the Company, Lola One Acquisition
Sub, Inc., a Delaware corporation (“Merger-Sub”) and wholly owned subsidiary of the Company, and Amesite
Inc., a Delaware corporation (“Amesite”), pursuant to which Merger-Sub will merge with and into Amesite,
with Amesite surviving the merger as a wholly owned subsidiary of the Company (the “Merger”) and pursuant
to which all of the outstanding shares of Amesite’s capital stock will be exchanged for 5,833,333 shares of the Company’s
Common Stock (the “Merger Shares”). Upon the consummation of the Merger, Amesite shall change its name
to “Amesite Operating Company” and the Company will change its name to “Amesite Inc.”


 


C. The
Shares (as defined below) subscribed for pursuant to this Agreement have not been registered under the Securities Act of 1933,
as amended (the “Securities Act”). The Offering is being made on a reasonable best efforts basis to “accredited
investors,” as defined in Regulation D under the Securities Act in reliance upon the exemption from securities registration
afforded by Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D.


 


AGREEMENT


 


The Company and the Purchaser
hereby agree as follows:


 


1. Subscription.


 


1.1 Purchase
and Sale of the Shares.


 


(a) Subject
to the terms and conditions of this Agreement, the undersigned Purchaser agrees to purchase, and the Company agrees to sell and
issue to such Purchaser, that number of shares set forth on such Purchaser’s Omnibus Signature Page attached hereto at the
Purchase Price, for a total aggregate Purchase Price as set forth on such Omnibus Signature Page. The minimum subscription amount
for each Purchaser in the Offering is $49,999.50 (or 33,333 shares). The Company may accept subscriptions for less than $49,999.50
from any Purchaser in its sole discretion. Prior to the date hereof, Amesite investors have agreed to purchase approximately 895,834
shares of Common Stock at a purchase price of $1.20 per share (the “Insider Investment”). For the purposes
of this Agreement, “Shares” means the shares of Common Stock issued in the Offering at the Initial Closing
(as defined below) or at any Subsequent Closing (as defined below).


 






     


     


    

 


(b) This
Agreement is one of a series of subscription agreements issued (and to be issued) by the Company to purchasers of Shares in connection
with the Offering with the same terms and conditions set forth in this Agreement (each, a “Subscription Agreement”,
and collectively, the “Subscription Agreements”).


 


1.2 Subscription
Procedure; Closing.


 


(a) Initial
Closing. Subject to the terms and conditions of this Agreement, the initial closing of the Shares shall take place remotely
via the exchange of documents and signatures following the closing of the Merger and receipt of subscriptions equal to or exceeding
the Minimum Offering Amount or at such other time and place as mutually agreed to by the Company and the Placement Agents (as defined
in Section 2) (the “Initial Closing”).


 


(b) Subsequent
Closings. If the Maximum Offering Amount is not sold at the Initial Closing, at any time prior to April 30, 2018 or at such
later time as the Company and the Placement Agents may mutually agree without notice to or consent from Purchasers (each a “Subsequent
Closing” and collectively the “Subsequent Closings”), the Company may sell additional Shares
up to the Maximum Offering Amount, and if there are over-subscriptions, such additional Shares as may be sold in connection with
the Over-Subscription Option (the “Subsequent Closing Shares”) to such persons as may be approved by
the Company and who are reasonably acceptable to the Placement Agents (the “Additional Purchasers”).
All such sales made at any Subsequent Closing, shall be made on the terms and conditions set forth in the Subscription Agreements,
and (i) the representations and warranties of the Company set forth in Section 3 hereof (and the Disclosure Schedule) shall speak
as of each Closing (except to the extent specified otherwise in Section 3) and (ii) the representations and warranties of the Additional
Purchasers in Section 4 hereof shall speak as of such Subsequent Closing. Any Subsequent Closing Shares issued and sold pursuant
to this Section 1.2(b) shall be deemed to be “Shares” for all purposes under this Agreement, and any
Additional Purchasers thereof shall be deemed to be “Purchasers” for all purposes under this Agreement.
The Initial Closing and the Subsequent Closings, if any, shall be known collectively herein as the “Closings”
or individually as a “Closing.”


 


(c) Subscription
Procedure.  To complete a subscription for the Shares, the Purchaser must fully comply with the subscription procedure
provided in paragraphs a. through c. of this Section on or before the applicable Closing:


 


(i) Subscription
Documents.  At or before the applicable Closing, the Purchaser shall review, complete and execute the Omnibus Signature
Page to this Agreement and the Registration Rights Agreement substantially in the form of Exhibit A hereto (the “Registration
Rights Agreement”), Investor Profile, Selling
Securityholder Questionnaire and Investor Certification, attached hereto following the Omnibus Signature Page (collectively, the
“Subscription Documents”), if applicable, additional forms and questionnaires
distributed to the Purchaser and deliver the Subscription Documents and such additional forms and questionnaires to the party indicated
thereon at the address set forth under the caption “How to subscribe for Shares in the private offering of the Company.”
below. Executed documents may be delivered to such party by facsimile or .pdf sent by electronic mail (e-mail).


 






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(ii) Purchase
Price.  Simultaneously with the delivery
of the Subscription Documents as provided herein, and in any event at or prior to the applicable Closing, the Purchaser shall deliver
to Signature Bank, in its capacity as escrow agent (the “Escrow Agent”),
under an escrow agreement among the Company, the Placement Agents (as defined below) and the Escrow Agent (the “Escrow
Agreement”) the full Purchase Price by certified or other bank check or by wire transfer
of immediately available funds, pursuant to the instructions set forth under the caption “How to subscribe for Shares
in the private offering of the Company” below. Such funds will be held for the Purchaser’s benefit in the escrow
account established for the Offering (the “Escrow Account”)
and will be returned promptly, without interest or offset, if this Agreement is not accepted by the Company, or the Minimum Offering
Amount has not been sold or the Offering is terminated pursuant to its terms prior to the Closing.


 


(iii) Company
Discretion.  The Purchaser understands
and agrees that the Company in its sole discretion reserves the right to accept or reject this or any other subscription for Shares,
in whole or in part, notwithstanding prior receipt by the Purchaser of notice of acceptance of this subscription. The Company shall
have no obligation hereunder until the Company shall execute and deliver to the Purchaser an executed copy of this Agreement. If
this subscription is rejected in whole, or the Offering is terminated, all funds received from the Purchaser will be returned without
interest or offset, and this Agreement shall thereafter be of no further force or effect. If this subscription is rejected in part,
the funds for the rejected portion of this subscription will be returned without interest or offset, and this Agreement will continue
in full force and effect to the extent this subscription was accepted.


 


2. Placement
Agents. Placement Agent, a U.S.-registered broker-dealer (“PA”), has been
engaged by the Company as placement agent on a reasonable best efforts basis, for the Offering. The Company, subject to its agreement
with PA, or PA itself, may engage additional placement agents (PA together with any such additional placement agents,
the “Placement Agents”). The Placement Agents, collectively, will be paid at each Closing from the Offering
proceeds a total cash commission of ten percent (10%) of the gross Purchase Price paid by Purchasers in the Offering introduced
by them (the “Cash Fee”) and will collectively receive warrants to purchase a number of shares of Common
Stock equal to 10% of the number of shares of Common Stock sold to investors in the Offering, introduced by them, with a term of
five (5) years from the date of the applicable Closing, and an exercise price of $1.50 per share (the “Placement Agent
Warrants”); provided that with respect to funds raised from existing stockholders of Amesite or other purchasers
as agreed to by Amesite and PA, the Placement Agents will not be paid a Cash Fee and will receive no warrant coverage. The
Company will also pay certain expenses of the Placement Agents in connection with the Offering. Any sub-agent of the Placement
Agent that introduces investors to the Offering will be entitled to share in the Cash Fee and/or Placement Agent Warrants attributable
to those investors pursuant to the terms of an executed sub-agent agreement.


 


3. Representations
and Warranties of the Company.  Except (i) as set forth in the Disclosure Schedule delivered to the Purchasers
concurrently with the execution of this Agreement (the “Disclosure Schedule”), or (ii) as disclosed in
the substantially complete draft of the Current Report on Form 8-K describing the Merger, the Offering and the related transactions,
including “Form 10 information” (as defined in Rule 144(i)(3) under the Securities Act), to be filed by the Company
with the Securities and Exchange Commission (the “SEC”) within four Business Days (as defined below)
after the closing of the Merger and the initial Closing of the Offering (the “Super 8-K”) (but excluding
any disclosures contained under the heading “Risk Factors” and any disclosure of risks included in any “forward-looking
statements” disclaimer or in any other section to the extent they are forward-looking statements or cautionary, predictive
or forward-looking in nature), the Company hereby represents and warrants to the Purchaser, as of the Closing (after giving effect
to the Merger), the following:


 


a. Organization
and Qualification.  The Company and each of its subsidiaries is a corporation duly organized, validly existing and
in good standing under the laws of Delaware, and has the requisite corporate power to own its properties and to carry on its business
as now being conducted. The Company and each of its subsidiaries is duly qualified as a foreign corporation to do business and
is in good standing in every jurisdiction in which the nature of the business conducted by it makes such qualification necessary,
except to the extent that the failure to be so qualified or be in good standing would not have any material adverse effect on (i)
the business, properties, assets, liabilities, operations (including results thereof), condition (financial or otherwise) or prospects
of the Company and its subsidiaries, individually or taken as a whole, (ii) the transactions contemplated hereby or in the other
Transaction Documents (as defined below) or by the agreements and instruments to be entered into in connection herewith or therewith
or (iii) the authority or ability of the Company to perform its obligations under the Transaction Documents (a “Material
Adverse Effect”). Each subsidiary of the Company is identified on Schedule 3a attached hereto. 




 






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b. Authorization,
Enforcement, Compliance with Other Instruments.  (i) The Company has the requisite corporate power and authority
to enter into and perform its obligations under this Agreement, the Registration Rights Agreement and the Escrow Agreement (the
“Transaction Documents”) and to issue the Shares, in accordance with the terms hereof and thereof; (ii)
the execution and delivery by the Company of each of the Transaction Documents and the consummation by it of the transactions contemplated
hereby and thereby, including, without limitation, the issuance of the Shares, have been, or will be at the time of execution of
such Transaction Document, duly authorized by the Company’s Board of Directors, and no further consent or authorization is,
or will be at the time of execution of such Transaction Document, required by the Company, its Board of Directors or its stockholders;
(iii) each of the Transaction Documents will be duly executed and delivered by the Company; and (iv) the Transaction Documents
when executed will constitute the valid and binding obligations of the Company enforceable against the Company in accordance with
their terms, except as such enforceability may be limited by general principles of equity or applicable bankruptcy, insolvency,
reorganization, moratorium, liquidation or similar laws relating to, or affecting generally, the enforcement of creditors’
rights and remedies and, with respect to any rights to indemnity or contribution contained in the Transaction Documents, as such
rights may be limited by state or federal laws or public policy underlying such laws.


 


c. Capitalization.  The
authorized capital stock of the Company consists of 50,000,000 shares of Common Stock and 5,000,000 shares of preferred stock,
par value $0.0001 per share (the “Preferred Stock”). After giving effect to the Merger, but immediately
before the Initial Closing, the Company will have 9,333,333 shares of Common Stock (on a fully-diluted basis) and no shares of
Preferred Stock issued and outstanding. All of the outstanding shares of Common Stock and of the capital stock of each of the Company’s
subsidiaries have been duly authorized, validly issued and are fully paid and nonassessable. Immediately after giving effect to
the Closing of the Minimum Offering Amount or the Maximum Offering Amount (in each case, assuming no sales pursuant to the Over-Subscription
Option), the pro forma outstanding capitalization of the Company will be as set forth under “Pro Forma Capitalization”
in Schedule 3c. After giving effect to the Merger: (i) no shares of capital stock of the Company or any of its subsidiaries
will be subject to preemptive rights or any other similar rights or any liens or encumbrances suffered or permitted by the Company;
(ii) except as set forth on Schedule 3c(ii) and as contemplated by the Transaction Documents and Placement Agent Warrants,
there will be no outstanding options, warrants, scrip, rights to subscribe to, calls or commitments of any character whatsoever
relating to, or securities or rights convertible into, any shares of capital stock of the Company or any of its subsidiaries, or
contracts, commitments, understandings or arrangements by which the Company or any of its subsidiaries is or may become bound to
issue additional shares of capital stock of the Company or any of its subsidiaries; (iii) there will be no outstanding debt securities
of the Company or any of its subsidiaries other than indebtedness as set forth in Schedule 3c(iii); (iv) other than
pursuant to the Registration Rights Agreement or as set forth in Schedule 3c(iv), there will be no agreements or arrangements
under which the Company or any of its subsidiaries is obligated to register the sale of any of their securities under the Securities
Act; (v) there will be no outstanding registration statements of the Company or any of its subsidiaries, and there will be
no outstanding comment letters from the SEC or any other regulatory agency; (vi) except as provided in this Agreement or as set
forth in Schedule 3c(vi), there will be no securities or instruments of the Company or any of its subsidiaries containing
anti-dilution or similar provisions, including the right to adjust the exercise, exchange or reset price under such securities,
that will be triggered by the issuance of the Shares as described in this Agreement; and (vii) no co-sale right, right of first
refusal or other similar right will exist with respect to the Shares or the issuance and sale thereof. Upon request, the Company
will make available to the Purchaser true and correct copies of the Company’s Certificate of Incorporation, as in effect
as of the Initial Closing, and the Company’s Bylaws, as in effect as of the Initial Closing, and the terms of all securities
exercisable for Common Stock and the material rights of the holders thereof in respect thereto other than stock options issued
to officers, directors, employees and consultants.


 






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d. Issuance
of Shares.  The Shares that are being issued to the Purchaser hereunder, when issued, sold and delivered in accordance
with the terms and for the consideration set forth in this Agreement, will be duly and validly issued, fully paid and nonassessable,
and free of restrictions on transfer other than restrictions on transfer under the Transaction Documents, applicable state and
federal securities laws and liens or encumbrances created by or imposed by the Purchaser.


 


e. No
Conflicts.  The execution, delivery and performance of each of the Transaction Documents by the Company, and the
consummation by the Company of the transactions contemplated hereby and thereby including issuance and sale of the Shares in accordance
with this Agreement will not (i) result in a violation of the Certificate of Incorporation or the Bylaws (or equivalent constitutive
document) of the Company or any of its subsidiaries or (ii) violate or conflict with, or result in a breach of any provision of,
or constitute a default (or an event which with notice or lapse of time or both would become a default) under, or give to others
any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture or instrument to which the Company
or any subsidiary is a party, except for those which would not reasonably be expected to have a Material Adverse Effect, or (iii)
result in a violation of any law, rule, regulation, order, judgment or decree (including U.S. federal and state securities laws
and regulations) applicable to the Company or any subsidiary or by which any property or asset of the Company or any subsidiary
is bound or affected, except for those which would not reasonably be expected to have a Material Adverse Effect. Neither the Company
nor any subsidiary is in violation of or in default under, any provision of its Certificate of Incorporation or Bylaws. Neither
the Company nor any subsidiary is in violation of any term of or in default under any contract, agreement, mortgage, indebtedness,
indenture, instrument, judgment, decree or order or any statute, rule or regulation applicable to the Company or any subsidiary,
which violation or breach has had or would reasonably be expected to have a Material Adverse Effect. Except as specifically contemplated
by this Agreement and as required under the Securities Act and any applicable state securities laws, neither the Company nor any
of its subsidiaries is required to obtain any consent, authorization or order of, or make any filing or registration with, any
court or governmental agency in order for it to execute, deliver or perform any of its obligations under or contemplated by this
Agreement or the other Transaction Documents in accordance with the terms hereof or thereof other than (i) the filings required
pursuant to Section 9(j), (ii) the filing of the registration statement contemplated by the Registration Rights Agreement and (iii)
the filing of Form D with the SEC. Except as set forth on Schedule 3e, neither the execution and delivery by the Company
of the Transaction Documents, nor the consummation by the Company of the transactions contemplated hereby or thereby, will require
any notice, consent or waiver under any contract or instrument to which the Company or any subsidiary is a party or by which the
Company or any subsidiary is bound or to which any of their assets is subject, except for any notice, consent or waiver the absence
of which would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect. All consents, authorizations,
orders, filings and registrations which the Company or any of its subsidiaries is required to obtain pursuant to the preceding
two sentences have been or will be obtained or effected on or prior to the Closing.


 






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f. Absence
of Litigation.  Except as set forth on Schedule 3f, there is no action, suit, claim, inquiry, notice of violation,
proceeding (including any partial proceeding such as a deposition) or investigation before or by any court, public board, governmental
or administrative agency, self-regulatory organization, arbitrator, regulatory authority, stock market, stock exchange or trading
facility (an “Action”) now pending or, to the knowledge of the Company, threatened against or affecting
the Company or any of its subsidiaries or any of their respective officers or directors, which would be reasonably likely to (i)
adversely affect the validity or enforceability of, or the authority or ability of the Company to perform its obligations under,
this Agreement or any of the other Transaction Documents, or (ii) have a Material Adverse Effect. For the purpose of this Agreement,
the knowledge of the Company means the knowledge of the officers of the Company (for the avoidance of doubt, after giving effect
to the Merger) and Amesite (both actual or knowledge that they would have had upon reasonable inquiry of the personnel of Amesite
responsible for the applicable subject matter). Neither the Company nor any of its subsidiaries is subject to any judgment, decree,
or order which has had, or would reasonably be expected to have a Material Adverse Effect.


 


g. Acknowledgment
Regarding Purchaser’s Purchase of the Shares.  The Company acknowledges and agrees that each Purchaser is acting
solely in the capacity of an arm’s length purchaser with respect to the Transaction Documents and the transactions contemplated
hereby and thereby. The Company further acknowledges that no Purchaser is acting as a financial advisor or fiduciary of the Company
(or in any similar capacity) with respect to the Transaction Documents and the transactions contemplated thereby and any advice
given by any Purchaser or any of their respective representatives or agents in connection with the Transaction Documents and the
transactions contemplated thereby is merely incidental to the Purchaser’s purchase of the Shares.


 


h. No
General Solicitation.  Neither the Company, nor any of its Affiliates, nor, to the knowledge of the Company, any
person acting on its or their behalf, has engaged in any form of general solicitation or general advertising (within the meaning
of Regulation D) in connection with the offer or sale of the Shares. “Affiliate” means, with respect
to any person, any other person that, directly or indirectly through one or more intermediaries, controls, is controlled by or
is under common control with such person, as such terms are used in and construed under Rule 144 under the Securities Act
(“Rule 144”). With respect to a Purchaser, any investment fund or managed account that is managed on
a discretionary basis by the same investment manager as such Purchaser will be deemed to be an Affiliate of such Purchaser.


 


i. No
Integrated Offering.  Except with respect to the Insider Investment, neither the Company, nor any of its Affiliates,
nor to the knowledge of the Company, any person acting on its or their behalf has, directly or indirectly, made any offers or sales
of any security or solicited any offers to buy any security, under circumstances that would require registration of the Shares
under the Securities Act or cause this offering of the Shares to be integrated with prior offerings by the Company for purposes
of the Securities Act.


 


j. Employee
Relations.  Except as disclosed in the SEC Reports (as defined below), neither Company nor any subsidiary is involved
in any labor dispute nor, to the knowledge of the Company, is any such dispute threatened. Except as disclosed in the SEC Reports,
neither Company nor any subsidiary is party to any collective bargaining agreement. Except as disclosed in the SEC Reports, the
Company’s and/or its subsidiaries’ employees are not members of any union, and the Company believes that its and its
subsidiaries’ relationship with their respective employees is good.


 






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k. Intellectual
Property Rights. After giving effect to the Merger, except as set forth on Schedule 3k, the Company and each of its
subsidiaries owns, possesses, or has rights to use, all Intellectual Property necessary for the conduct of the Company’s
and its subsidiaries’ business as now conducted, except as such failure to own, possess or have such rights would not reasonably
be expected to result in a Material Adverse Effect and there are no unreleased liens or security interests which have been filed,
or which the Company has received notice of, against any of the patents owned to the Company. Furthermore, (A) to the Company’s
knowledge, there is no infringement, misappropriation or violation by third parties of any such Intellectual Property, except as
such infringement, misappropriation or violation would not result in a Material Adverse Effect; (B) there is no pending or, to
the Company’s knowledge, threatened, Action by others challenging the Company’s or any of its subsidiaries’ rights
in or to any such Intellectual Property, and to the Company’s knowledge, there are no facts which would form a reasonable
basis for any such Action; (C) the Intellectual Property owned by the Company and its subsidiaries, and to the Company’s
knowledge, the Intellectual Property licensed to the Company and its subsidiaries, has not been adjudged invalid or unenforceable,
in whole or in part, and there is no pending or, to the Company’s knowledge, threatened Action by others challenging the
validity, enforceability or scope of any such Intellectual Property, and, to the Company’s knowledge, there are no facts
which would form a reasonable basis for any such Action; (D) there is no pending or, to the Company’s knowledge, threatened
Action by others that the Company or any of its subsidiaries infringes, misappropriates or otherwise violates any Intellectual
Property or other proprietary rights of others, neither the Company nor any of its subsidiaries has received any written notice
of such Action, and, to the Company’s knowledge, there are no other facts which would form a reasonable basis for any such
Action, except in each case for any Action as would not be reasonably expected to have a Material Adverse Effect; and (E) to the
Company’s knowledge, no employee of the Company or any of its subsidiaries is in violation of any term of any employment
contract, patent disclosure agreement, invention assignment agreement, non-competition agreement, non-solicitation agreement, nondisclosure
agreement or any restrictive covenant to or with a former employer where the basis of such violation relates to such employee’s
employment with the Company or any of its subsidiaries or actions undertaken by the employee while employed with the Company or
any of its subsidiaries, except such violation as would not reasonably be expected to have a Material Adverse Effect. Except as
would not reasonably be expected to have a Material Adverse Effect, (1) the Company and its subsidiaries have disclosed to the
U.S. Patent and Trademark Office (USPTO) all information known to the Company to be relevant to the patentability of its inventions
in accordance with 37 C.F.R. Section 1.56, and (2) neither the Company nor any of its subsidiaries made any misrepresentation or
concealed any information from the USPTO in any of the patents or patent applications owned or licensed to the Company, or in connection
with the prosecution thereof, in violation of 37 C.F.R. Section 1.56. Except as would not reasonably be expected to have a Material
Adverse Effect and to the Company’s knowledge, (x) there are no facts that are reasonably likely to provide a basis for a
finding that the Company or any of its subsidiaries does not have clear title to the patents or patent applications owned or licensed
to the Company or other proprietary information rights as being owned by the Company or any of its subsidiaries, (y) no valid issued
U.S. patent would be infringed by the activities of the Company or any of its subsidiaries relating to products currently or proposed
to be manufactured, used or sold by the Company or any of its subsidiaries and (z) there are no facts with respect to any issued
patent owned that would cause any claim of any such patent not to be valid and enforceable with applicable regulations. “Intellectual
Property” shall mean all patents, patent applications, trade and service marks, trade and service mark registrations,
trade names, copyrights, licenses, inventions, trade secrets, domain names, technology and know-how.


 






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l. Environmental
Laws.


 


(i) The
Company and each subsidiary has complied with all applicable Environmental Laws (as defined below), except for violations of Environmental
Laws that, individually or in the aggregate, have not had and would not reasonably be expected to have a Material Adverse Effect.
There is no pending or, to the knowledge of the Company, threatened civil or criminal litigation, notice of violation, formal administrative
proceeding, or investigation, inquiry or information request, relating to any Environmental Law involving the Company or any subsidiary,
except for litigation, notices of violations, formal administrative proceedings or investigations, inquiries or information requests
that, individually or in the aggregate, have not had and would not reasonably be expected to have a Material Adverse Effect. For
purposes of this Agreement, “Environmental Law” means any national, state, provincial or local law, statute,
rule or regulation or the common law relating to the environment or occupational health and safety, including without limitation
any statute, regulation, administrative decision or order pertaining to (i) treatment, storage, disposal, generation and transportation
of industrial, toxic or hazardous materials or substances or solid or hazardous waste; (ii) air, water and noise pollution; (iii)
groundwater and soil contamination; (iv) the release or threatened release into the environment of industrial, toxic or hazardous
materials or substances, or solid or hazardous waste, including without limitation emissions, discharges, injections, spills, escapes
or dumping of pollutants, contaminants or chemicals; (v) the protection of wild life, marine life and wetlands, including without
limitation all endangered and threatened species; (vi) storage tanks, vessels, containers, abandoned or discarded barrels, and
other closed receptacles; (vii) health and safety of employees and other persons; and (viii) manufacturing, processing, using,
distributing, treating, storing, disposing, transporting or handling of materials regulated under any law as pollutants, contaminants,
toxic or hazardous materials or substances or oil or petroleum products or solid or hazardous waste. As used above, the terms “release”
and “environment” shall have the meaning set forth in the Comprehensive Environmental Response, Compensation and Liability
Act of 1980, as amended.


 


(ii) To
the knowledge of the Company there is no material environmental liability with respect to any solid or hazardous waste transporter
or treatment, storage or disposal facility that has been used by the Company or any subsidiary.


 


m. Authorizations;
Regulatory Compliance. The Company and each of its subsidiaries holds, and is operating in compliance with, all authorizations,
licenses, permits, approvals, clearances, registrations, exemptions, consents, certificates and orders of any governmental authority
and supplements and amendments thereto (collectively, “Authorizations”) required for the conduct of its
business in all applicable jurisdictions and all such Authorizations are valid and in full force and effect, except for Authorizations
the absence of which would not reasonably be expected to have a Material Adverse Effect. Neither the Company nor any of its subsidiaries
is in material violation of any terms of any such Authorizations, except, in each case, such as would not reasonably be expected
to have a Material Adverse Effect; and neither the Company nor any of its subsidiaries has received written notice of any revocation
or modification of any such Authorization, or written notice that such revocation or modification is being considered, except to
the extent that any such revocation or modification would not be reasonably expected to have a Material Adverse Effect. The Company
and each of its subsidiaries is in compliance with all applicable federal, state, local and foreign laws, regulations, orders and
decrees, including such laws and regulations applicable to the manufacture, distribution, import and export of regulated products
and component parts and ingredients, except as would not reasonably be expected to have a Material Adverse Effect. Neither the
Company nor any of its subsidiaries has received any FDA Form 483, warning letter, untitled letter or other correspondence or written
notice from the U.S. Food and Drug Administration (“FDA”), its foreign counterparts, or any other federal,
state, local or foreign governmental or regulatory authority (each a “Governmental Authority”), alleging
or asserting noncompliance with the Federal Food, Drug, and Cosmetic Act (21 U.S.C. § 301 et seq.) or comparable foreign laws.
Neither the Company nor any of its subsidiaries has been notified, either orally or in writing, by any Governmental Authority that
a clinical study has been put on hold or may be put on hold. The Company and each of its subsidiaries, and to the Company’s
knowledge, each of their respective directors, officers, employees and agents, is and has been in material compliance with applicable
health care laws, including, to the extent applicable, without limitation, the Federal Food, Drug and Cosmetic Act (21 U.S.C. §
301 et seq.), the federal Anti-Kickback Statute (42 U.S.C. § 1320a-7b(b)), the Health Insurance Portability and Accountability
Act of 1996 (42 U.S.C. § 1320d et seq.), as amended by the Health Information Technology for Economic and Clinical Health
Act of 2009 (42 U.S.C. § 17921 et seq.), and the regulations promulgated pursuant to such laws, and comparable state laws
and foreign laws (collectively, “Health Care Laws”) , except, in each case, as would not reasonably be
expected to have a Material Adverse Effect. Neither the Company nor any of its subsidiaries has received written notice of any
ongoing claim, action, suit, proceeding, hearing, enforcement, investigation, arbitration or other action from any Governmental
Authority or third party alleging that any product operation or activity is in material violation of any Health Care Laws or any
Authorizations, nor that any activity conducted by either an employee or any person acting on the Company’s behalf is in
violation of applicable data protection and privacy laws, rules and regulations, as amended from time to time, with respect to
the collection, use, processing, storage, transfer, modification, deletion and/or disclosure of any personal information that is
protected under applicable privacy laws and regulations. The Company and each of its subsidiaries has filed, obtained, maintained
or submitted all reports, documents, forms, notices, applications, records, claims, submissions and supplements or amendments thereto
as required by any Health Care Laws or any Authorizations and all such reports, documents, forms, notices, applications, records,
claims, submissions and supplements or amendments were complete, correct and not misleading on the date filed (or were corrected
or supplemented by a subsequent submission), except where any of the foregoing would not be reasonably expected to have a Material
Adverse Effect. Neither the Company nor any of its subsidiaries has, either voluntarily or involuntarily, initiated, conducted,
or issued or caused to be initiated, conducted or issued, any other notice or action relating to any alleged product defect or
violation and, to the Company's knowledge, no third party has initiated or conducted any such notice or action relating to any
of the Company’s products in development. Neither the Company nor any of its subsidiaries is a party to any corporate integrity
agreement, deferred prosecution agreement, monitoring agreement, consent decree, settlement order, or similar agreements, or has
any reporting obligations pursuant to any such agreement, plan or correction or other remedial measure entered into with any Governmental
Authority.


 






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n. Title.
Neither the Company nor any of its subsidiaries owns any real property. Except as set forth on Schedule 3n,
each of the Company and its subsidiaries has good and marketable title to all of its personal property and assets (i)
purportedly owned or used by them as reflected in the SEC Reports, as of their respective dates, or (ii) necessary for the
conduct of their business as currently conducted, free and clear of any restriction, mortgage, deed of trust, pledge, lien,
security interest or other charge, claim or encumbrance which would have a Material Adverse Effect. Except as set forth on Schedule
3n, with respect to properties and assets it leases, each of the Company and its subsidiaries is in compliance with
such leases and holds a valid leasehold interest free of any liens, claims or encumbrances which would have a Material
Adverse Effect. 


 


o. Tax
Status.  The Company and each subsidiary has made and filed (taking into account any valid extensions) all federal
and state income and all other tax returns, reports and declarations required by any jurisdiction to which it is subject and (unless
and only to the extent that the Company or such subsidiary has set aside on its books provisions reasonably adequate for the payment
of all unpaid and unreported taxes) has paid all taxes and other governmental assessments and charges that are material in amount,
shown or determined to be due on such returns, reports and declarations, except those being contested in good faith and has set
aside on its books provision reasonably adequate for the payment of all taxes for periods subsequent to the periods to which such
returns, reports or declarations apply. To the knowledge of the Company, there are no unpaid taxes in any material amount claimed
to be due from the Company or any subsidiary by the taxing authority of any jurisdiction, and the officers of the Company know
of no basis for any such claim.


 


p. Certain
Transactions.  Except for arm’s length transactions pursuant to which the Company or any subsidiary makes payments
in the ordinary course of business upon terms no less favorable than it could obtain from third parties, none of the officers,
directors, or employees of the Company or any subsidiary is presently a party to any transaction with the Company or any subsidiary
(other than for services as employees, officers and directors), including any contract, agreement or other arrangement providing
for the furnishing of services to or by, providing for rental of real or personal property to or from, or otherwise requiring payments
to or from any officer, director or such employee or, to the knowledge of the Company, any corporation, partnership, trust or other
entity in which any officer, director, or any such employee has a substantial interest or is an officer, director, trustee or partner.
All transactions that would be required to be disclosed by the Company pursuant to Item 404 of Regulation S-K promulgated under
the Securities Act are disclosed in the SEC Reports in accordance with Item 404 or in the Super 8-K.


 


q. Rights
of First Refusal.  Except as set forth on Schedule 3q, the Company is not obligated to offer the securities
offered hereunder on a right of first refusal basis or otherwise to any third parties including, but not limited to, current or
former stockholders of the Company, underwriters, brokers, agents or other third parties.


 


r. Insurance.  The
Company and its subsidiaries have insurance policies of the type and in amounts customarily carried by organizations conducting
businesses or owning assets similar to those of the Company and its subsidiaries. There is no material claim pending under any
such policy as to which coverage has been questioned, denied or disputed by the underwriter of such policy.


 


s. SEC
Reports.  The Company has filed all reports, schedules, forms, statements and other documents required to be filed
by the Company under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (together with
the Super 8-K, the “SEC Reports”) for the two (2) years preceding the date hereof (or such shorter period
since the Company was first required by law or regulation to file such material). The draft Super 8-K to be furnished to each Purchaser
prior to the Initial Closing will not materially deviate from the Super 8-K. The Super 8-K will comply, and the other SEC Reports
at the time they were filed complied, in all material respects with the requirements of the Securities Act or the Exchange Act,
as applicable, and the applicable rules and regulations of the SEC thereunder and other federal, state and local laws, rules and
regulations applicable to such documents, and, as of their respective dates, the SEC Reports did not contain or, in the case of
the Super 8-K will not contain, any untrue statement of a material fact or omitted to state a material fact required to be stated
therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading.
There are no contracts, agreements or other documents that are required to be described
in the SEC Reports and/or to be filed as exhibits thereto that are not described, in all material respects, and/or filed as required.
There has not been any material change or amendment to, or any waiver of any material right under, any such contract or agreement
that has not been described in and/or filed as an exhibit to the SEC Reports.


 






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t. Financial
Statements.  The financial statements of the Company included in the SEC Reports comply in all material respects
with applicable accounting requirements and the rules and regulations of the SEC with respect thereto as in effect at the time
of filing. Such financial statements have been prepared in accordance with GAAP applied on a consistent basis during the periods
involved, except as may be otherwise specified in such financial statements or the notes thereto and except that unaudited financial
statements may not contain all footnotes required by GAAP, and fairly present in all material respects the financial position of
the Company and its consolidated subsidiaries taken as a whole as of and for the dates thereof and the results of operations and
cash flows for the periods then ended, subject, in the case of unaudited statements, to normal, year-end audit adjustments. The
pro forma financial information and the related notes, if any, included in the SEC Reports have been properly compiled and prepared
in accordance with the applicable requirements of the Securities Act and the regulations promulgated thereunder and fairly present
in all material respects the information shown therein, and the assumptions used in the preparation thereof are reasonable and
the adjustments used therein are appropriate to give effect to the transactions and circumstances referred to therein. The financial
statements of Amesite to be included in the Super 8-K (the “Amesite Financial Statements”) comply in
all material respects with applicable accounting requirements and the rules and regulations of the Commission with respect thereto
as in effect at the time of filing. The Amesite Financial Statements have been prepared in accordance with GAAP applied on a consistent
basis during the periods involved and fairly present in all material respects, the financial conditions and results of Amesite
and its subsidiaries as of the dates thereof and the results of operations and cash flows for the periods then ended.


 


u. Material
Changes.  Since the respective date of the latest balance sheet of the Company and the latest balance sheet of Amesite
included in the financial statements contained within the SEC Reports, except as specifically disclosed in the SEC Reports, (i)
there have been no events, occurrences or developments that have had or would reasonably be expected to have a Material Adverse
Effect with respect to the Company or Amesite, (ii) there have not been any changes in the authorized capital,
assets, financial condition, business or operations of the Company or Amesite from that reflected in the financial statements contained
within the SEC Reports except changes in the ordinary course of business which have not been, either individually or in the aggregate,
materially adverse to the business, properties, financial condition, results of operations or future prospects of the Company or
Amesite, (iii) neither the Company or any subsidiary nor Amesite has incurred any material liabilities (contingent or otherwise)
other than (A) trade payables, accrued expenses and other liabilities incurred in the ordinary course of business consistent with
past practice and (B) liabilities not required to be reflected in the financial statements of the Company or of Amesite, as applicable,
pursuant to GAAP or to be disclosed in the SEC Reports, (iv) neither the Company or any subsidiary nor Amesite has materially altered
its method of accounting or the manner in which it keeps its accounting books and records, and (v) neither the Company or any subsidiary
nor Amesite has declared or made any dividend or distribution of cash or other property to its stockholders or purchased, redeemed
or made any agreements to purchase or redeem any shares of its capital stock (other than in connection with repurchases of unvested
stock issued to employees of the Company). The Company and its subsidiaries, individually and on a consolidated basis, are not
as of the date hereof, and after giving effect to the transactions contemplated hereby to occur at the Closing, will not be Insolvent
(as defined below). For purposes of this Section 3(u), “Insolvent” means, with respect to the Company, on a
consolidated basis with its subsidiaries, (i) the present fair saleable value of the Company’s and its subsidiaries’
assets is less than the amount required to pay the Company’s and its subsidiaries’ total indebtedness), (ii) the Company
and its subsidiaries are unable to pay their debts and liabilities, subordinated, contingent or otherwise, as such debts and liabilities
become absolute and matured or (iii) the Company and its subsidiaries intend to incur or believe that they will incur debts that
would be beyond their ability to pay as such debts mature. To the best of its knowledge, other than with respect to the transactions
contemplated by the Merger Agreement, no event, liability, development or circumstance has occurred or exists, or is contemplated
to occur with respect to the Company, any of its subsidiaries or their respective business, properties, liabilities, prospects,
operations (including results thereof) or condition (financial or otherwise), that would be required to be disclosed by the Company
under applicable securities laws on a registration statement on Form S-1 filed with the SEC relating to an issuance and sale by
the Company of its Common Stock and which has not been publicly announced.


 


v. Disclosure
Controls. The Company has established and maintains disclosure controls and procedures (as defined in Rules 13a-14 and 15d-15
under the Exchange Act) and such controls and procedures are effective in ensuring that material information relating to the Company,
including its subsidiaries, is made known to the principal executive officer and the principal financial officer.


 






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w. Sarbanes-Oxley.  The
Company is in compliance in all material respects with all of the provisions of the Sarbanes-Oxley Act of 2002 which are applicable
to it.


 


x. Off-Balance
Sheet Arrangements.  There is no transaction, arrangement, or other relationship between the Company or any subsidiary
and an unconsolidated or other off-balance sheet entity that is required to be disclosed by the Company in its SEC Reports (including,
for purposes hereof, any that are required to be disclosed in a Form 10) and is not so disclosed or that otherwise would have a
Material Adverse Effect.


 


y. Foreign
Corrupt Practices.  Neither the Company and its subsidiaries, nor to the Company’s knowledge, any agent or
other person acting on behalf of the Company or its subsidiaries, has: (i) directly or indirectly, used any funds for unlawful
contributions, gifts, entertainment or other unlawful expenses related to foreign or domestic political activity, (ii) made any
unlawful payment to foreign or domestic government officials or employees or to any foreign or domestic political parties or campaigns
from corporate funds, (iii) failed to disclose fully any contribution made by the Company (or made by any person acting on its
behalf of which the Company is aware) which is in violation of law or (iv) violated in any material respect any provision of the
Foreign Corrupt Practices Act of 1977, as amended (the “FCPA”).


 


z. Brokers’
Fees. Neither of the Company nor any of its subsidiaries has any liability or obligation to pay any fees or commissions to
any broker, finder or agent with respect to the transactions contemplated by this Agreement, except for the payment of fees to
the Placement Agents as described in Section 2 above.


 


aa. Disclosure
Materials.  The SEC Reports and the Disclosure Materials taken as a whole do not contain an untrue statement of a
material fact or omit to state a material fact required to be stated therein (in the case of SEC Reports) or necessary to make
the statements therein, in the light of the circumstances under which they were made, not misleading. For the purposes of this
Agreement “Disclosure Materials” means the Confidential and Non-Binding Summary Term Sheet of the Company
previously provided to the Purchaser, as amended from time to time, relating to the Offering and any supplement or amendment thereto,
and any disclosure schedule or other information document, delivered to the Purchaser prior to Purchaser’s execution of this
Agreement, and any such document delivered to the Purchaser after Purchaser’s execution of this Agreement and prior to the
closing of the Purchaser’s subscription hereunder including the Super 8-K. 


 


bb. Investment
Company.  The Company is not required to be registered as, and is not an Affiliate of, and immediately following
the Closing will not be required to register as, an “investment company” within the meaning of the Investment Company
Act of 1940, as amended.


 


cc. Reliance.  The
Company acknowledges that the Purchaser is relying on the representations and warranties (as modified by the disclosures on the
Disclosure Schedule or the Super 8-K (but excluding any disclosures contained under the heading “Risk Factors” and
any disclosures of risks included in any “forward looking statements” or cautionary, predictive or forward-looking
in nature) made by the Company hereunder and that such representations and warranties (as modified by the disclosures on the Disclosure
Schedule or the Super 8-K (but excluding any disclosures contained under the heading “Risk Factors” and any disclosures
of risks included in any “forward looking statements” or cautionary, predictive or forward-looking in nature) are a
material inducement to the Purchaser purchasing the Shares.


 






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dd. Use of Proceeds.  The
Company presently intends to use the net proceeds from the Offering to fund the ongoing development of pipeline products, for working
capital and other general corporate purposes and shall not use such proceeds: (a) for the satisfaction of any portion of the Company’s
debt (other than outstanding note payables set forth on Schedule 3(dd) or the payment of trade payables in the ordinary
course of the Company’s business and prior practices), (b) for the redemption of any Common Stock or any securities convertible
into and/or exercisable for Common Stock, (c) for the settlement of any outstanding litigation or (d) in violation of FCPA or OFAC
(as defined below) regulations.


 


ee. Bad Actor Disqualification.
No “bad actor” disqualifying event described in Rule 506(d)(1)(i)-(viii) of the Securities Act (a “Disqualification
Event”) is applicable to the Company or, to the Company’s knowledge, any Company Covered Person, except for
a Disqualification Event as to which Rule 506(d)(2)(ii–iv) or (d)(3), is applicable. “Company Covered Person”
means, with respect to the Company as an “issuer” for purposes of Rule 506 promulgated under the Securities Act, any
person listed in the first paragraph of Rule 506(d)(1).


 


ff. Office of Foreign
Assets Control. Neither the Company nor any subsidiary nor, to the Company's knowledge, any director, officer, agent, employee
or affiliate of the Company or any subsidiary is currently subject to any U.S. sanctions administered by the Office of Foreign
Assets Control of the U.S. Treasury Department (“OFAC”).


 


gg. Money Laundering.
The operations of the Company and its subsidiaries are and have been conducted at all times in compliance with applicable financial
record-keeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, applicable
money laundering statutes and applicable rules and regulations thereunder (collectively, the “Money Laundering Laws”),
and no Action by or before any court or governmental agency, authority or body or any arbitrator involving the Company or any subsidiary
with respect to the Money Laundering Laws is pending or, to the knowledge of the Company or any subsidiary, threatened.


 


hh. The Company’s
transfer agent (the “Transfer Agent”) is a participant in and the Common Stock is eligible for transfer
pursuant to the Depository Trust Company Automated Securities Transfer Program.


 


ii. The
Company has not, and to its knowledge no one acting on its behalf has, (i) taken, directly or indirectly, any action designed to
cause or to result in the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale
of any of the Securities, (ii) sold, bid for, purchased, or paid any compensation for soliciting purchases of, any of the Securities,
or (iii) paid or agreed to pay to any Person any compensation for soliciting another to purchase any other securities of the Company,
other than, in the case of clauses (ii) and (iii), compensation paid to the Company’s placement agent in connection with
the placement of the Securities.


 


jj. The Common Stock
is registered pursuant to Section 12(g) of the Exchange Act, and the Company has taken no action designed to, or which to its knowledge
is likely to have the effect of, terminating the registration of the Common Stock under the Exchange Act nor has the Company received
any notification that the SEC is contemplating terminating such registration.


 


4. Representations,
Warranties and Agreements of the Purchaser. The Purchaser, severally and not jointly with any other Purchaser, represents
and warrants to, and agrees with, the Company the following:


 


a. The
Purchaser has the knowledge and experience in financial and business matters necessary to evaluate the merits and risks of its
prospective investment in the Company, and has carefully reviewed and understands the risks of, and other considerations relating
to, the purchase of Shares and the tax consequences of the investment, and has the ability to bear the economic risks of the investment.
The Purchaser can afford the loss of his, her or its entire investment.


 






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b. The
Purchaser is acquiring the Shares for investment for his, her or its own account and not with the view to, or for resale in connection
with, any distribution thereof. The Purchaser understands and acknowledges that the Offering and sale of the Shares have not been
registered under the Securities Act or any state securities laws, by reason of a specific exemption from the registration provisions
of the Securities Act and applicable state securities laws, which depends upon, among other things, the bona fide nature of the
investment intent as expressed herein. The Purchaser further represents that he, she or it does not have any contract, undertaking,
agreement or arrangement with any person to sell, transfer or grant participation to any third person with respect to any of the
Shares. The Purchaser understands and acknowledges that the Offering of the Shares will not be registered under the Securities
Act nor under the state securities laws on the ground that the sale of the Shares to the Purchaser as provided for in this Agreement
and the issuance of securities hereunder is exempt from the registration requirements of the Securities Act and any applicable
state securities laws. The Purchaser is an “accredited investor” as defined in Rule 501 of Regulation D as promulgated
by the SEC under the Securities Act, for the reason(s) specified on the Accredited Investor Certification attached
hereto as completed by Purchaser, and Purchaser shall submit to the Company such further assurances of such status as may be reasonably
requested by the Company. The Purchaser resides in the jurisdiction set forth on the Purchaser’s Omnibus Signature Page affixed
hereto. The Purchaser has not taken any of the actions set forth in, and is not subject to, the disqualification provisions of
Rule 506(d)(1) of the Securities Act.


 


c. The
Purchaser (i) if a natural person, represents that he or she is the greater of (A) 21 years of age or (B) the age of legal majority
in his or her jurisdiction of residence, and has full power and authority to execute and deliver this Agreement and all other related
agreements or certificates and to carry out the provisions hereof and thereof; (ii) if a corporation, partnership, limited liability
company, association, joint stock company, trust, unincorporated organization or other entity, represents that such entity was
not formed for the specific purpose of acquiring the Shares, such entity is duly organized, validly existing and in good standing
under the laws of the state or jurisdiction of its organization, the consummation of the transactions contemplated hereby is authorized
by, and will not result in a violation of state law or its charter or other organizational documents, such entity has full power
and authority to execute and deliver this Agreement and all other related agreements or certificates and to carry out the provisions
hereof and thereof and to purchase and hold the Shares, the execution and delivery of this Agreement has been duly authorized by
all necessary action, this Agreement has been duly executed and delivered on behalf of such entity and is a legal, valid and binding
obligation of such entity; or (iii) if executing this Agreement in a representative or fiduciary capacity, represents that he,
she or it has full power and authority to execute and deliver this Agreement in such capacity and on behalf of the subscribing
individual, ward, partnership, trust, estate, corporation, or limited liability company or partnership, or other entity for whom
the Purchaser is executing this Agreement, and such individual, partnership, ward, trust, estate, corporation, or limited liability
company or partnership, or other entity has full right and power to perform pursuant to this Agreement and make an investment in
the Company, and represents that this Agreement constitutes a legal, valid and binding obligation of such entity. The execution
and delivery of this Agreement will not violate or be in conflict with any order, judgment, injunction, agreement or controlling
document to which the Purchaser is a party or by which it is bound.


 


d. The
Purchaser understands that the Shares are being offered and sold to him, her or it in reliance on specific exemptions from the
registration requirements of United States federal and state securities laws and that the Company is relying in part upon the truth
and accuracy of, and such Purchaser’s compliance with, the representations, warranties, agreements, acknowledgments and understandings
of such Purchaser set forth herein in order to determine the availability of such exemptions and the eligibility of such Purchaser
to acquire such securities. The Purchaser further acknowledges and understands that the Company is relying on the representations
and warranties made by the Purchaser hereunder and that such representations and warranties are a material inducement to the Company
to sell the Shares to the Purchaser. The Purchaser further acknowledges that without such representations and warranties of the
Purchaser made hereunder, the Company would not enter into this Agreement with the Purchaser.


 






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e. The
Purchase understands that, other than as expressly provided in the Registration Rights Agreement, the Company does not currently
intend to register the Shares under the Securities Act at any time in the future; and the undersigned will not immediately be entitled
to the benefits of Rule 144 with respect to the Shares. The Purchaser understands that no public market exists for the Company’s
Common Stock and that there can be no assurance that any public market for the Common Stock will exist or continue to exist. The
Company’s Common Stock is not approved for quotation on OTC Markets or any other quotation system or listed on any exchange.
The Company intends to cause the Common Stock to be quoted on OTC Markets QB tier as soon as practicable following the final Closing
of the Offering; however, the Company makes no representation, warranty or covenant with respect to the initiation of or continued
quotation of the Common Stock on the OTC Markets quotation or listing on any other market or exchange.


 


f. The
Purchaser has received, reviewed and understood the information about the Company, including all Disclosure Materials, and has
had an opportunity to discuss the Company’s business, management and financial affairs with the Company’s management.
The Purchaser understands that such discussions, as well as any Disclosure Materials provided by the Company, were intended to
describe the aspects of the Company’s business and prospects and the Offering which the Company believes to be material,
but were not necessarily a thorough or exhaustive description, and except as expressly set forth in this Agreement, the Company
makes no representation or warranty with respect to the completeness of such information and makes no representation or warranty
of any kind with respect to any information provided by any entity other than the Company. Some of such information may include
projections as to the future performance of the Company, which projections may not be realized, may be based on assumptions which
may not be correct and may be subject to numerous factors beyond the Company’s control. The Purchaser acknowledges that he,
she or it is not relying upon any person or entity, other than the Company and its officers and directors, in making its investment
or decision to invest in the Company. Additionally, the Purchaser understands and represents that he, she or it is purchasing the
Shares notwithstanding the fact that the Company may disclose in the future certain material information the Purchaser has not
received, including (without limitation) financial statements of the Company and/or Amesite for the current or prior fiscal periods,
and any subsequent period financial statements that will be filed with the SEC, that he, she or it is not relying on any such information
in connection with his, her or its purchase of the Shares and that he, she or it waives any right of action with respect to the
nondisclosure to him, her or it prior to his, her or its purchase of the Shares of any such information. Each Purchaser has sought
such accounting, legal and tax advice as the Purchaser has considered necessary to make an informed investment decision with respect
to his, her or its acquisition of the Shares.


 


g. The
Purchaser acknowledges that none of the Company or the Placement Agents is acting as a financial advisor or fiduciary of the Purchaser
(or in any similar capacity) with respect to the Transaction Documents and the transactions contemplated hereby and thereby, and
no investment advice has been given by the Company, the Placement Agents or any of their respective representatives or agents in
connection with the Transaction Documents and the transactions contemplated hereby and thereby. The Purchaser further represents
to the Company that the Purchaser’s decision to enter into the Transaction Documents has been based solely on the independent
evaluation by the Purchaser and the Purchaser’s representatives.


 






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h. As
of the applicable Closing, all actions on the part of Purchaser, and its officers, directors and partners, if applicable, necessary
for the authorization, execution and delivery of this Agreement and the Registration Rights Agreement and the performance of all
obligations of the Purchaser hereunder and thereunder shall have been taken, and this Agreement and the Registration Rights Agreement,
assuming due execution by the parties hereto and thereto, constitute valid and legally binding obligations of the Purchaser, enforceable
in accordance with their respective terms, subject to: (i) judicial principles limiting the availability of specific performance,
injunctive relief, and other equitable remedies and (ii) bankruptcy, insolvency, reorganization, moratorium or other similar laws
now or hereafter in effect generally relating to or affecting creditors’ rights.


 


i. Purchaser
represents that neither it nor, to its knowledge, any person or entity controlling, controlled by or under common control with
it, nor any person having a beneficial interest in the Purchaser, nor any person on whose behalf the Purchaser is acting: (i) is
a person listed in the Annex to Executive Order No. 13224 (2001) issued by the President of the United States (Executive Order
Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism); (ii) is named
on the List of Specially Designated Nationals and Blocked Persons maintained by the U.S. Office of Foreign Assets Control; (iii)
is a non-U.S. shell bank or is providing banking services indirectly to a non-U.S. shell bank; (iv) is a senior non-U.S. political
figure or an immediate family member or close associate of such figure; or (v) is otherwise prohibited from investing in the Company
pursuant to applicable U.S. anti-money laundering, anti-terrorist and asset control laws, regulations, rules or orders (categories
(i) through (v), each a “Prohibited Purchaser”). The Purchaser agrees to provide the Company, promptly
upon request, all information that the Company reasonably deems necessary or appropriate to comply with applicable U.S. anti-money
laundering, anti-terrorist and asset control laws, regulations, rules and orders. The Purchaser consents to the disclosure to U.S.
regulators and law enforcement authorities by the Company and its Affiliates and agents of such information about the Purchaser
as the Company reasonably deems necessary or appropriate to comply with applicable U.S. anti-money laundering, anti-terrorist and
asset control laws, regulations, rules and orders. If the Purchaser is a financial institution that is subject to the USA Patriot
Act, the Purchaser represents that it has met all of its obligations under the USA Patriot Act. The Purchaser acknowledges that
if, following its investment in the Company, the Company reasonably believes that the Purchaser is a Prohibited Purchaser or is
otherwise engaged in suspicious activity or refuses to promptly provide information that the Company requests, the Company has
the right or may be obligated to prohibit additional investments, segregate the assets constituting the investment in accordance
with applicable regulations or immediately require the Purchaser to transfer the Shares. The Purchaser further acknowledges that
neither the Purchaser nor any of the Purchaser’s Affiliates or agents will have any claim against the Company or Amesite
for any form of damages as a result of any of the foregoing actions.


 


j. If
the Purchaser is Affiliated with a non-U.S. banking institution (a “Foreign Bank”), or if the Purchaser
receives deposits from, makes payments on behalf of, or handles other financial transactions related to a Foreign Bank, the Purchaser
represents and warrants to the Company that: (1) the Foreign Bank has a fixed address, other than solely an electronic address,
in a country in which the Foreign Bank is authorized to conduct banking activities; (2) the Foreign Bank maintains operating records
related to its banking activities; (3) the Foreign Bank is subject to inspection by the banking authority that licensed the Foreign
Bank to conduct banking activities; and (4) the Foreign Bank does not provide banking services to any other Foreign Bank that does
not have a physical presence in any country and that is not a regulated Affiliate.


 


k. The
Purchaser or its duly authorized representative realizes that because of the inherently speculative nature of businesses of the
kind conducted and contemplated by the Company, the Company’s financial results may be expected to fluctuate from month to
month and from period to period and will, generally, involve a high degree of financial and market risk that could result in substantial
or, at times, even total losses for investors in securities of the Company. The Purchaser has carefully read the risk factors and
other information (including the financial statements of Amesite) included in the Super 8-K. The Purchaser has carefully considered
such risk factors before deciding to invest in the Shares.


 






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l. The
Purchaser has adequate means of providing for its current and anticipated financial needs and contingencies, is able to bear the
economic risk for an indefinite period of time and has no need for liquidity of the investment in the Shares and could afford complete
loss of such investment. 


 


m. The
Purchaser is not subscribing for Shares as a result of or subsequent to any advertisement, article, notice or other communication,
published in any newspaper, magazine or similar media or broadcast over television, radio, or the internet, or presented at any
seminar or meeting, or any solicitation of a subscription by a person not previously known to the Purchaser in connection with
investments in securities generally. 


 


n. The
Purchaser acknowledges that no U.S. federal or state agency or any other government or governmental agency has passed upon the
Shares or made any finding or determination as to the fairness, suitability or wisdom of any investments therein.


 


o. Other
than consummating the transactions contemplated hereunder, the Purchaser has not directly or indirectly, nor has any individual
or entity acting on behalf of or pursuant to any understanding with such Purchaser, executed any purchases or sales, including
Short Sales, of the securities of the Company during the period commencing as of the time that such Purchaser first received a
term sheet (written or oral) from the Company or any other individual or entity representing the Company setting forth the material
terms of the transactions contemplated hereunder and ending immediately prior to the execution hereof. Notwithstanding the foregoing,
in the case of a Purchaser that is a multi-managed investment vehicle whereby separate portfolio managers manage separate portions
of such Purchaser’s assets and the portfolio managers have no direct knowledge of the investment decisions made by the portfolio
managers managing other portions of such Purchaser’s assets, the representation set forth above shall only apply with respect
to the portion of assets managed by the portfolio manager that made the investment decision to purchase the Shares covered by this
Agreement. Other than to other individuals or entities party to this Agreement, such Purchaser has maintained the confidentiality
of all disclosures made to it in connection with this transaction (including the existence and terms of this transaction). Notwithstanding
the foregoing, for avoidance of doubt, nothing contained herein shall constitute a representation or warranty, or preclude any
actions, with respect to the identification of the availability of, or securing of, available shares to borrow in order to effect
Short Sales or similar transactions in the future. For purposes of this Agreement, “Short Sales” means
all “short sales” as defined in Rule 200 of Regulation SHO under the Exchange Act (but shall not be deemed to include
the location and/or reservation of borrowable shares of Common Stock).


 


p. The
Purchaser agrees to be bound by all of the terms and conditions of the Registration Rights Agreement and to perform all obligations
thereby imposed upon it.


 


q. The
Purchaser is aware that the anti-manipulation rules of Regulation M under the Exchange Act may apply to sales of the Shares and
other activities with respect to the Shares by the Purchaser.


 


r. All
of the information concerning the Purchaser set forth herein, and any other information furnished by the Purchaser in writing to
the Company or a Placement Agent for use in connection with the transactions contemplated by this Agreement, is true, correct and
complete in all material respects as of the date of this Agreement, and, if there should be any material change in such information
prior to the Purchaser’s purchase of the Shares, the Purchaser will promptly furnish revised or corrected information to
the Company. 


 






    16


     


    

 


s. The
Purchaser has reviewed with its own tax advisors the U.S. federal, state, local and foreign tax consequences of this investment
and the transactions contemplated by the Transaction Documents. With respect to such matters, such Purchaser relies solely on such
advisors and not on any statements or representations of the Company or any of its agents, written or oral. The Purchaser understands
that it (and not the Company) shall be responsible for its own tax liability that may arise as a result of this investment or the
transactions contemplated by the Transaction Documents.


 


t. If
the Purchaser is not a United States person (as defined by Section 7701(a)(30) of the Internal Revenue Code of 1986, as amended),
the Purchaser hereby represents that it has satisfied itself as to the full observance of the laws of its jurisdiction in connection
with any invitation to subscribe for the Shares or any use of this Agreement, including (a) the legal requirements within
its jurisdiction for the purchase of the Shares; (b) any foreign exchange restrictions applicable to such purchase; (c) any
governmental or other consents that may need to be obtained; and (d) the income tax and other tax consequences, if any, that
may be relevant to the purchase, holding, redemption, sale or transfer of the Shares. The Purchaser’s subscription and payment
for and continued beneficial ownership of the Shares will not violate any applicable securities or other laws of the Purchaser’s
jurisdiction.


 


u.
(For ERISA plans only)  The fiduciary of the Employee Retirement Income Security Act of 1974 (“ERISA”)
plan (the “Plan”) represents that such fiduciary has been informed of and understands the Company’s
investment objectives, policies and strategies, and that the decision to invest “plan assets” (as such term is defined
in ERISA) in the Company is consistent with the provisions of ERISA that require diversification of plan assets and impose other
fiduciary responsibilities. The Purchaser fiduciary or Plan (a) is responsible for the decision to invest in the Company; (b) is
independent of the Company or any of its Affiliates; (c) is qualified to make such investment decision; and (d) in making such
decision, the Purchaser fiduciary or Plan has not relied primarily on any advice or recommendation of the Company or any of its
Affiliates.


 


v. Neither
the Purchaser nor, to the Purchaser’s knowledge, any of its directors, executive officers, other officers that may serve
as a director or officer of any company in which it invests, general partners or managing members is subject to any Disqualification
Events, except for Disqualification Events covered by Rule 506(d)(2)(ii) or (iii) under the Securities Act, and disclosed
in writing in reasonable detail to the Company.


 


w. The
Purchaser understands that there are substantial restrictions on the transferability of the Shares and that the certificates representing
the Shares shall bear a restrictive legend in substantially the following form (and a stop-transfer order may be placed against
transfer of such certificates or other instruments):


 


THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR ANY STATE SECURITIES LAWS, AND NEITHER SUCH SECURITIES NOR ANY INTEREST THEREIN
MAY BE OFFERED, SOLD, PLEDGED, ASSIGNED OR OTHERWISE TRANSFERRED UNLESS (1) A REGISTRATION STATEMENT WITH RESPECT THERETO IS EFFECTIVE
UNDER THE SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS, OR (2) AN EXEMPTION FROM SUCH REGISTRATION EXISTS AND THE COMPANY
RECEIVES AN OPINION OF COUNSEL, WHICH COUNSEL AND OPINION ARE REASONABLY SATISFACTORY TO THE COMPANY, THAT SUCH SECURITIES MAY
BE OFFERED, SOLD, PLEDGED, ASSIGNED OR TRANSFERRED IN THE MANNER CONTEMPLATED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT UNDER
THE SECURITIES ACT OR APPLICABLE STATE SECURITIES LAWS OR (3) SOLD PURSUANT TO RULE 144 UNDER THE SECURITIES ACT.


 






    17


     


    

 


In
addition, if any Purchaser is an Affiliate of the Company, certificates evidencing the Shares issued to such Purchaser may bear
a customary “Affiliates” legend.


 


The
Company shall be obligated to promptly reissue unlegended certificates upon the request of any holder thereof (x) at such time
as the holding period under Rule 144 or another applicable exemption from the registration requirements of the Securities Act has
been satisfied or (y) at such time as a registration statement is available for the transfer of the Shares.
The Company is entitled to request from any holder requesting unlegended certificates under clause (x) of the foregoing sentence
an opinion of counsel reasonably acceptable to the Company to the effect that the securities proposed to be disposed of may lawfully
be so disposed of without registration, qualification or legend.


 


x. If
the Purchaser is an individual, then the Purchaser resides in the state or province identified in the address of the Purchaser
set forth on such Purchaser’s Omnibus Signature Page to this Agreement; if the Purchaser is a partnership, corporation, limited
liability company or other entity, then the office or offices of the Purchaser in which its principal place of business is identified
in the address or addresses of the Purchaser set forth on such Purchaser’s Omnibus Signature Page to this Agreement.


 


y. Each
Purchaser understands that the Company prior to the Merger was a “shell company” as defined in Rule 12b-2 under the
Exchange Act, and that upon filing with the SEC of the Super 8-K reporting the consummation of the Merger and related transactions
and the transactions contemplated by this Agreement, and otherwise containing “Form 10 information” discussed below,
the Company will reflect therein that it is no longer a shell company. Pursuant to Rule 144(i), securities issued by a current
or former shell company (that is, the Shares) that otherwise meet the holding period and other requirements of Rule 144 nevertheless
cannot be sold in reliance on Rule 144 until one year after the Company (a) is no longer a shell company; and (b) has filed
current “Form 10 information“ (as defined in Rule 144(i)) with the SEC reflecting that it is no longer a shell company,
and provided that at the time of a proposed sale pursuant to Rule 144, the Company is subject to the reporting requirements of
Section 13 or 15(d) of the Exchange Act and has filed all reports and other materials required to be filed by Section 13 or 15(d)
of the Exchange Act, as applicable, during the preceding 12 months (or for such shorter period that the issuer was required to
file such reports and materials), other than Form 8-K reports. As a result, the restrictive legends on certificates for the
Shares cannot be removed except in connection with an actual sale meeting the foregoing requirements or pursuant to an effective
registration statement. 


 


z. Each
Purchaser purchasing Shares in any Subsequent Closing represents that it (1) has a substantive, pre-existing relationship with
the Company or (2) has direct contact by the Company or its Placement Agents outside of the Offering and (3) was not identified
or contacted through the marketing of the public offering and (4) did not independently contact the issuer as a result of general
solicitation by means of the Super 8-K or any press release or any other public disclosure disclosing the material terms of the
Offering.


 






    18


     


    

 


aa. To effectuate
the terms and provisions hereof, the Purchaser hereby appoints PA as its attorney-in-fact (and PA hereby accepts such
appointment) for the purpose of carrying out the provisions of the Escrow Agreement by and between the Company, PA and Signature
Bank (the “Escrow Agreement”) including, without limitation, taking any action on behalf of, or at the
instruction of, the Purchaser and executing any release notices required under the Escrow Agreement and taking any action and executing
any instrument that PA may deem necessary or advisable (and lawful) to accomplish the purposes hereof. All acts done under
the foregoing authorization are hereby ratified and approved and neither PA nor any designee nor agent thereof shall be liable
for any acts of commission or omission, for any error of judgment, for any mistake of fact or law except for acts of gross negligence
or willful misconduct. This power of attorney, being coupled with an interest, is irrevocable while the Escrow Agreement remains
in effect.


 


bb. The Company’s
transfer agent (the “Transfer Agent”) is a participant in and the Common Stock is eligible for transfer
pursuant to the Depository Trust Company Automated Securities Transfer Program.


 


cc. The Common Stock
is registered pursuant to Section 12(g) of the Exchange Act, and the Company has taken no action designed to, or which to its knowledge
is likely to have the effect of, terminating the registration of the Common Stock under the Exchange Act nor has the Company received
any notification that the SEC is contemplating terminating such registration.


 


5. Conditions
to Company’s Obligations at the applicable Closing.  The Company’s obligation to complete the sale
and issuance of the Shares and deliver the Shares to each Purchaser, individually, at the applicable Closing shall be subject to
the following conditions to the extent not waived by the Company:


 


a. Receipt
of Payment.  The Company shall have received payment, by certified or other bank check or by wire transfer of immediately
available funds, in the full amount of the purchase price for the number of Shares being purchased by such Purchaser at such Closing.


 


b. Representations
and Warranties.  The representations and warranties made by the Purchaser in Section 4 hereof and each Purchaser
in Section 4 (or the equivalent Section) of the applicable Subscription Agreement with respect to such Closing shall be true and
correct in all respects when made, and shall be true and correct in all respects on the applicable Closing date with the same force
and effect as if they had been made on and as of said date.


 


c. Performance.
The Purchaser shall have performed in all material respects all obligations and covenants herein required to be performed by it
on or prior to the applicable Closing.


 


d. Receipt
of Executed Documents.  Each Purchaser participating in such Closing shall have executed and delivered to the Company
the Omnibus Signature Page, the Purchaser Questionnaire and the Selling Securityholder Questionnaire (as defined in the Registration
Rights Agreement).


 


e. Effectiveness
of the Merger.  The Merger shall have been effected.


 


f. Minimum
Offering. In connection with the Initial Closing Only, the Initial Closing shall be at least for the number of shares
of Common Stock in the Minimum Offering Amount at the Purchase Price.


 






    19


     


    

 


g. Lock-Up
Agreements.  In connection with the Initial Closing only, (a) all officers and directors of the Company appointed
in connection with the Merger, (b) key employees, agreed to by the Company and Amesite, if any; and (c) all persons holding in
the aggregate 5% or more of the Merger Shares issued in exchange for the equity securities of Amesite in the Merger (each a “Restricted
Holder” and, collectively, the “Restricted Holders”) shall have entered into agreements
with the Company for a term of twenty-four months, whereby they will agree to certain restrictions on the sale or disposition (including
pledge) of all of the Company’s Common Stock held by (or issuable to) them on the date of the Initial Closing, excluding
any shares purchased by them in the Offering. The lock-ups will contain customary transfer exceptions.


 


h. Qualifications.  All
authorizations, approvals or permits, of any governmental authority or regulatory body of the United States or of any state that
are required in connection with the lawful issuance and sale of the Shares pursuant to this Agreement at each Closing shall be
obtained and effective as of such Closing except for Blue Sky law permits and qualifications that may be properly obtained after
such Closing.


 


6. Conditions
to Purchasers’ Obligations at the applicable Closing. Each Purchaser’s obligation to accept delivery of the
Shares and to pay for the Shares at the applicable Closing shall be subject to the following conditions to the extent not waived
by the holders of at least a majority of the Shares to be purchased at such Closing and the Placement Agents on behalf of the Purchasers
at the applicable Closing:


 


a. Representations
and Warranties.  The representations and warranties made by the Company in Section 3 hereof (as modified by the disclosures
on the Disclosure Schedule or the Super 8-K (but excluding any disclosures contained under the heading “Risk Factors”
and any disclosure of risks included in any “forward-looking statements” disclaimer or in any other section to the
extent they are forward-looking statements or cautionary, predictive or forward-looking in nature) shall be true and correct in
all material respects (except to the extent any such representation and warranty is qualified by materiality or reference to Material
Adverse Effect, in which case, such representation and warranty shall be true and correct in all respects as so qualified) as of,
and as if made on, the date of this Agreement and as of such Closing Date, except to the extent any such representation or warranty
expressly speaks as of an earlier date, in which case such representation or warranty shall be true and in all material respects
correct as of such earlier date (except in each case to the extent any such representation and warranty is qualified by materiality
or reference to Material Adverse Effect, in which case, such representation and warranty shall be true and correct in all respects
as so qualified).


 


b. Performance.
The Company shall have performed in all material respects all obligations and covenants herein required to be performed by it on
or prior to the applicable Closing.


 


c. Receipt
of Executed Transaction Documents.  In connection with the Initial Closing only, the Company shall have executed
and delivered to the Placement Agents the Registration Rights Agreement and the Escrow Agreement.


 


d. Effectiveness
of the Merger.  The Merger shall have been effected.


 


e. Minimum
Offering.  In connection with the Initial Closing only, the Initial Closing shall be at least for the number of shares
of Common Stock in the Minimum Offering Amount at the Purchase Price.


 


f. Certificate.  In
connection with the Initial Closing, the Chief Executive Officer of the Company shall execute and deliver to the Placement Agents
a certificate addressed to the Purchasers to the effect that the representations and warranties of the Company in Section 3 hereof
(as modified by the disclosures on the Disclosure Schedule or the Super 8-K (but excluding any disclosures contained under the
heading “Risk Factors” and any disclosure of risks included in any “forward-looking statements” disclaimer
or in any other section to the extent they are forward-looking statements or cautionary, predictive or forward-looking in nature)
shall be true and correct in all material respects (except to the extent any such representation and warranty is qualified by materiality
or reference to Material Adverse Effect, in which case, such representation and warranty shall be true and correct in all respects
as so qualified) as of, and as if made on, the date of the Initial Closing.


 






    20


     


    

 


g. Good
Standing.  The Company and each of its subsidiaries is a corporation or other business entity duly organized, validly
existing, and in good standing under the laws of the jurisdiction of its formation.


 


h. Judgments.  No
judgment, writ, order, injunction, award or decree of or by any court, or judge, justice or magistrate, including any bankruptcy
court or judge, or any order of or by any Governmental Authority, shall have been issued, and no action or proceeding shall have
been instituted by any Governmental Authority, enjoining or preventing the consummation of the transactions contemplated hereby.


 


i. Lock-Up
Agreements.  In connection with the Initial Closing only, each of the agreements required by Section 5(g) hereto
shall have been executed by the persons referred to therein and delivered to the Company.


 


j. Delivery
of Draft of Super 8-K.  A substantially complete draft of the Super 8-K, including audited financial statements of
Amesite and pro forma financial statements reflecting the Merger, all compliant with applicable SEC regulations for inclusion under
Item 2.01(f) and/or 5.01(a)(8) of SEC Form 8-K, shall have been delivered to the Placement Agents on behalf of the Purchasers.


 


k. Legal
Opinion. Legal counsel for the Company shall deliver an opinion to Purchaser and the Placement Agents, dated as of the Initial
Closing, in form and substance reasonably acceptable to the Placement Agents.


 


l. Issuance
in Compliance with Laws. The sale and issuance of the Shares shall be legally permitted by all laws and regulations to which
the Company is subject.


 


m. No
Material Adverse Effect. Since the date hereof, there shall not have occurred any effect, event, condition or circumstance
(including, without limitation, the initiation of any litigation or other legal, regulatory or investigative proceeding) that individually
or in the aggregate, with or without the passage of time, the giving of notice, or both, that has had, or could reasonably be expected
to have, a Material Adverse Effect or which could adversely affect the Company’s ability to perform its respective obligations
under this Agreement or any of the other Transaction Documents.


 


n. Updated
Disclosures. As to any Subsequent Closing, the Company must have delivered to the Purchasers an updated set of schedules in
accordance with Section 5.1.1 and such updated schedules do not reveal any information or the occurrence, since the Initial Closing
Date, of any effect, event, condition or circumstance, which individually, or in the aggregate, has had or could reasonably be
expected to have, a Material Adverse Effect and do not include any state of facts that occur as a result of the breach by the Company
of any of its obligations under this Agreement or any of the other Transaction Documents.


 






    21


     


    

 


7. Indemnification.


 


a. The
Company agrees to indemnify and hold harmless the Purchaser, and its directors, officers, stockholders, members, partners, employees
and agents (and any other persons with a functionally equivalent role of a person holding such titles notwithstanding a lack of
such title or any other title), each person who controls such Purchaser (within the meaning of Section 15 of the Securities Act
and Section 20 of the Exchange Act), and the directors, officers, stockholders, agents, members, partners or employees (and
any other persons with a functionally equivalent role of a person holding such titles notwithstanding a lack of such title or any
other title) of such controlling person (collectively, the “Purchaser Indemnitees”), from and against
all losses, liabilities, claims, damages, costs, fees and expenses whatsoever (including, but not limited to, any and all expenses
incurred in investigating, preparing or defending against any litigation commenced or threatened) based upon or arising out of
the Company’s breach of any representation, warranty or covenant contained herein; provided, however, that the Company will
not be liable in any such case to the extent and only to the extent that any such loss, liability, claim, damage, cost, fee or
expense arises out of or is based upon the inaccuracy of any representations made by such indemnified party in this Agreement,
or the failure of such indemnified party to comply with the covenants and agreements contained herein. The liability of the Company
under this paragraph shall not exceed the total Purchase Price paid by the Purchaser hereunder, except in the case of fraud.


 


b. Promptly
after receipt by an indemnified party under this Section 7 of notice of the commencement of any Action, such indemnified party
will, if a claim in respect thereof is to be made against the indemnifying party under this Section 7, notify the indemnifying
party in writing of the commencement thereof; but the omission so to notify the indemnifying party will not relieve it from any
liability which it may have to any indemnified party otherwise than under this Section 7 except to the extent the indemnified party
is actually prejudiced by such omission. In case any such Action is brought against any indemnified party, and it notifies the
indemnifying party of the commencement thereof, the indemnifying party will be entitled to participate therein, and to the extent
that it may elect by written notice delivered to the indemnified party promptly after receiving the aforesaid notice from such
indemnified party, to assume the defense thereof, with counsel satisfactory to such indemnified party; provided, however, if the
defendants in any such Action include both the indemnified party and the indemnifying party and either (i) the indemnifying party
or parties and the indemnified party or parties mutually agree or (ii) representation of both the indemnifying party or parties
and the indemnified party or parties by the same counsel is inappropriate under applicable standards of professional conduct due
to actual or potential differing interests between them, the indemnified party or parties shall have the right to select separate
counsel to assume such legal defenses and to otherwise participate in the defense of such Action on behalf of such indemnified
party or parties. Upon receipt of notice from the indemnifying party to such indemnified party of its election so to assume the
defense of such Action and approval by the indemnified party of counsel, the indemnifying party will not be liable to such indemnified
party under this Section 7 for any reasonable legal or other expenses subsequently incurred by such indemnified party in connection
with the defense thereof unless (i) the indemnified party shall have employed counsel in connection with the assumption of legal
defenses in accordance with the proviso to the next preceding sentence (it being understood, however, that the indemnifying party
shall not be liable for the expenses of more than one separate counsel in such circumstance), (ii) the indemnifying party shall
not have employed counsel satisfactory to the indemnified party to represent the indemnified party within a reasonable time after
notice of commencement of the Action or (iii) the indemnifying party has authorized the employment of counsel for the indemnified
party at the expense of the indemnifying party. No indemnifying party shall (i) without the prior written consent of the indemnified
parties (which consent shall not be unreasonably withheld), settle or compromise or consent to the entry of any judgment with respect
to any pending or threatened Action in respect of which indemnification or contribution may be sought hereunder (whether or not
the indemnified parties are actual or potential parties to such Action) unless such settlement, compromise or consent requires
only the payment of money damages, does not subject the indemnified party to any continuing obligation or require any admission
of criminal or civil responsibility, and includes an unconditional release of each indemnified party from all liability arising
out of such Action, or (ii) be liable for any settlement of any such Action effected without its written consent (which consent
shall not be unreasonably withheld), but if settled with its written consent or if there be a final judgment of the plaintiff in
any such Action, the indemnifying party agrees to indemnify and hold harmless any indemnified party from and against any loss or
liability by reason of such settlement or judgment. 


 






    22


     


    

 


c. Purchaser
acknowledges on behalf of itself and each Purchaser Indemnitee that, other than for actions seeking specific performance of the
obligations under this Agreement or in the case of fraud, the sole and exclusive remedy of the Purchaser and the Purchaser Indemnitee
with respect to any and all claims relating to this Agreement shall be pursuant to the indemnification provisions set forth in
this Section 7. 


 


8. Revocability;
Binding Effect.  The subscription hereunder may be revoked prior to the Closing thereon, provided that written
notice of revocation is sent and is received by the Company or a Placement Agent at least one Business Day prior to the applicable
Closing on such subscription. The Purchaser hereby acknowledges and agrees that this Agreement shall survive the death or disability
of the Purchaser and shall be binding upon and inure to the benefit of the parties and their heirs, executors, administrators,
successors, legal representatives and permitted assigns. If the Purchaser is more than one person, the obligations of the Purchaser
hereunder shall be joint and several and the agreements, representations, warranties and acknowledgments herein shall be deemed
to be made by and be binding upon each such person and such person’s heirs, executors, administrators, successors, legal
representatives and permitted assigns. For the purposes of this Agreement, “Business Day” means a day,
other than a Saturday or Sunday, on which banks in New York City are open for the general transaction of business.


 


9. Miscellaneous.


 


a. Modification.  This
Agreement shall not be amended, modified or waived except by an instrument in writing signed by the Company and the holders of
at least a majority of the then held Shares. Any amendment, modification or waiver effected in accordance with this Section 9(a)
shall be binding upon the Purchaser and each transferee of the Shares, each future holder of all such Shares, and the Company.


 


b. Immaterial
Modifications to the Registration Rights Agreement.  The Company and the Placement Agents may, at any time prior
to the Initial Closing, amend the Registration Rights Agreement if necessary to clarify any provision therein, without first providing
notice or obtaining prior consent of the Purchaser.


 


c. Third-Party
Beneficiary.  The Placement Agents shall be express third party beneficiaries of the representations and warranties
included in Sections 3 and 4 of this Agreement. This Agreement is intended for the benefit of the parties hereto and their respective
successors and permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other Person,
except as otherwise set forth in Section 7 and this Section 9(c).


 


d. Notices.  Any
notice, consents, waivers or other communication required or permitted to be given hereunder shall be in writing and will be deemed
to have been delivered: (i) upon receipt, when personally delivered; (ii) upon receipt when sent by certified mail, return receipt
requested, postage prepaid; (iii) upon receipt, when sent by facsimile (provided confirmation of transmission is mechanically or
electronically generated and kept on file by the sending party; (iv) when sent, if by e-mail, (provided that such sent e-mail is
kept on file (whether electronically or otherwise) by the sending party and the sending party does not receive an automatically
generated message from the recipient’s e-mail server that such e-mail could not be delivered to such recipient); or (v) one
(1) Business Day after deposit with an overnight courier service with next day delivery specified, in each case, properly addressed
to the party to receive the same. The addresses, facsimile numbers and email addresses for such communications shall be:


 


		(a)	if to the Company, at



 


Lola One Acquisition
Corporation (to be renamed Amesite Inc.)


205 East Washington Street


Suite B


Ann Arbor, Michigan 48104


Attn: Ann Marie Sastry, CEO


Facsimile: N/A


Email: ams@amesite.com



 






    23


     


    

 


with copies (which
shall not constitute notice) to:


 


Mitchell Silberberg & Knupp, LLP


11377 W. Olympic Boulevard


Los Angeles, California 90064


Attn: Nimish Patel, Esq.


Facsimile: 310.231.8302


Email: nxp@msk.com


 


Ogawa Professional Corporation


313 Bryant Court


Palo Alto, California 94301


Attn: Richard Ogawa, Esq.


Email: richard@rtogawa.com


 


Dorsey & Whitney LLP


1400 Wewatta Street


Suite 400


Denver, Colorado 80202-5549


Attn: Anthony W. Epps, Esq.


Email: epps.anthony@dorsey.com


 


or


 


		(b)	if to the Purchaser, at the address set forth on the Omnibus Signature Page hereof



 


(or, in either
case, to such other address as the party shall have furnished in writing in accordance with the provisions of this Section). Any
notice or other communication given by certified mail shall be deemed given at the time of certification thereof, except for a
notice changing a party’s address which shall be deemed given at the time of receipt thereof.


 


e. Assignability.  This
Agreement and the rights, interests and obligations hereunder are not transferable or assignable by the Purchaser, and the transfer
or assignment of the Shares shall be made only in accordance with all applicable laws.


 


f. Applicable
Law.  This Agreement shall be governed by and construed in accordance with the laws of the State of New York,
without reference to the principles thereof relating to the conflict of laws.


 






    24


     


    

 


g. Arbitration. 
All disputes arising out of or in connection with this Agreement shall be submitted to the International Court of Arbitration of
the International Chamber of Commerce and shall be finally settled under the Rules of Arbitration of the International Chamber
of Commerce by one or more arbitrators appointed in accordance with the said Rules. The place of arbitration shall be New York,
New York.


 


h. Form
D; Blue Sky Qualification.  The Company agrees to timely file a Form D with respect to the Securities and to provide
a copy thereof, promptly upon request of any Purchaser. The Company shall take such action as the Company shall reasonably determine
is necessary in order to obtain an exemption for, or to qualify the Securities for, sale to the Purchaser at such Closing under
applicable securities or “Blue Sky” laws of the states of the United States, and shall provide evidence of such actions
promptly upon request of any Purchaser.


 


i. Use
of Pronouns.  All pronouns and any variations thereof used herein shall be deemed to refer to the masculine,
feminine, neuter, singular or plural as the identity of the person or persons referred to may require.


 


j. Securities
Law Disclosure; Publicity.   By 9:00 a.m., New York City time, on the trading day immediately following the
Initial Closing, the Company shall issue a press release (the “Press Release”) disclosing all material
terms of the Offering. The Company will also file the Super 8-K (and including as exhibits to such Super 8-K, the material Transaction
Documents (including, without limitation, this Agreement and the Registration Rights Agreement)) as soon as practicable following
the closing date of the Merger but in no event more than four (4) Business Days following the closing date of the Merger. Notwithstanding
the foregoing, the Company shall not publicly disclose the name of any Purchaser or an Affiliate of any Purchaser, or include the
name of any Purchaser or an Affiliate of any Purchaser in any press release or filing with the SEC (other than the Registration
Statement) or any regulatory agency or principal trading market, without the prior written consent of such Purchaser, except (i)
as required by federal securities law in connection with (A) any registration statement contemplated by the Registration Rights
Agreement and (B) the filing of final Transaction Documents with the SEC or (ii) to the extent such disclosure is required by law,
request of the staff of the SEC or of any regulatory agency or principal trading market regulations, in which case the Company
shall provide the Purchasers with prior written notice of such disclosure permitted under this sub-clause (ii). From and after
the issuance of the Press Release, no Purchaser shall be in possession of any material, non-public information received from the
Company or any of its respective officers, directors, employees or agents that is not disclosed in the Press Release unless a Purchaser
shall have executed a written agreement regarding the confidentiality and use of such information. Each Purchaser, severally and
not jointly with the other Purchasers, covenants that until such time as the transactions contemplated by this Agreement are publicly
disclosed by the Company as described in this Section 9, such Purchaser will maintain the confidentiality of all disclosures made
to it in connection with such transactions (including the existence and terms of such transactions).


 


k. Non-Public
Information.  Except for information (including the terms of this Agreement and the transactions contemplated
hereby) that will be disclosed in the Super 8-K and filed with the SEC within four (4) Business Days of the Initial Closing, the
Company shall not and shall cause each of its officers, directors, employees and agents, not to, provide any Purchaser with any
material, non-public information regarding the Company without the express written consent of such Purchaser.


 


l. This
Agreement, together with the Registration Rights Agreement, and all exhibits, schedules and attachments hereto and thereto and
any confidentiality agreement between the Purchaser and the Company, constitute the entire agreement between the Purchaser and
the Company with respect to the Offering and supersede all prior oral or written agreements and understandings, if any, relating
to the subject matter hereof. The terms and provisions of this Agreement may be waived, or consent for the departure therefrom
granted, only by a written document executed by the party entitled to the benefits of such terms or provisions.


 






    25


     


    

 


m. If
the Shares are certificated and any certificate or instrument evidencing any Shares is mutilated, lost, stolen or destroyed, the
Company shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof, or in lieu of and substitution
therefor, a new certificate or instrument, but only upon receipt of evidence reasonably satisfactory to the Company and the Transfer
Agent of such loss, theft or destruction and the execution by the holder thereof of a customary lost certificate affidavit of that
fact and an agreement to indemnify and hold harmless the Company and the Transfer Agent for any losses in connection therewith
or, if required by the Transfer Agent, a bond in such form and amount as is required by the Transfer Agent. The applicants for
a new certificate or instrument under such circumstances shall also pay any reasonable third-party costs associated with the issuance
of such replacement Shares. If a replacement certificate or instrument evidencing any Shares is requested due to a mutilation thereof,
the Company may require delivery of such mutilated certificate or instrument as a condition precedent to any issuance of a replacement.



 


n. Each
of the parties hereto shall pay its own fees and expenses (including the fees of any attorneys, accountants, appraisers or others
engaged by such party) in connection with this Agreement and the transactions contemplated hereby, whether or not the transactions
contemplated hereby are consummated. The Company shall pay all expenses and fees of its counsel in connection with the issuance
of an opinion to the Transfer Agent for the removal of any legend on the Shares.


 


o. This
Agreement may be executed in one or more original or facsimile or by an e-mail which contains a portable document format (.pdf)
file of an executed signature page counterparts, each of which shall be deemed an original, but all of which shall together constitute
one and the same instrument and which shall be enforceable against the parties actually executing such counterparts. The exchange
of copies of this Agreement and of signature pages by facsimile transmission or in .pdf format shall constitute effective execution
and delivery of this Agreement as to the parties and may be used in lieu of the original Agreement for all purposes. Signatures
of the parties transmitted by facsimile or by e-mail of a document in pdf format shall be deemed to be their original signatures
for all purposes.


 


p. Each
provision of this Agreement shall be considered separable and, if for any reason any provision or provisions hereof are determined
to be invalid or contrary to applicable law, such invalidity or illegality shall not impair the operation of or affect the remaining
portions of this Agreement.


 


q. Paragraph
titles are for descriptive purposes only and shall not control or alter the meaning of this Agreement as set forth in the text.


 


r. The
Purchaser understands and acknowledges that there may be multiple Closings for the Offering. 


 


s. The
Purchaser hereby agrees to furnish the Company such other information as the Company may request prior to the applicable Closing
with respect to its subscription hereunder.


 


t. The
representations and warranties of the Company and each Purchaser contained in or made pursuant to this Agreement shall survive
the execution and delivery of this Agreement for a period of one (1) year from the date of the Initial Closing and shall in no
way be affected by any investigation or knowledge of the subject matter thereof made by or on behalf of the Purchasers or the Company.


 






    26


     


    

 


u. Omnibus
Signature Page.  This Agreement is intended to be read and construed in conjunction with the Registration
Rights Agreement. Accordingly, pursuant to the terms and conditions of this Agreement and the Registration Rights Agreement, it
is hereby agreed that the execution by the Purchaser of this Agreement, in the place set forth on the Omnibus Signature Page below,
shall constitute agreement to be bound by the terms and conditions hereof and the terms and conditions of the Registration Rights
Agreement, with the same effect as if each of such separate but related agreement were separately signed.


 


v. Public
Disclosure.  Neither the Purchaser nor any officer, manager, director, member, partner, stockholder, employee,
Affiliate, Affiliated person or entity of the Purchaser shall make or issue any press releases or otherwise make any public statements
or make any disclosures to any third person or entity with respect to the transactions contemplated herein and will not make or
issue any press releases or otherwise make any public statements of any nature whatsoever with respect to the Company without the
Company’s express prior approval (which may be withheld in the Company’s sole discretion), except to the extent such
disclosure is required by law, request of the staff of the SEC or of any regulatory agency or principal trading market regulations.



 


w. Potential
Conflicts.  The Placement Agents, their sub-agents, legal counsel to the Company, the Placement Agents or
Amesite and/or their respective Affiliates, principals, representatives or employees may now or hereafter own shares of the Company.


 


x. Independent
Nature of Each Purchaser’s Obligations and Rights.  For avoidance of doubt, the obligations of the Purchaser
under this Agreement are several and not joint with the obligations of any other Purchaser, and the Purchaser shall not be responsible
in any way for the performance of the obligations of any other Purchaser under any other Subscription Agreement. Nothing contained
herein and no action taken by the Purchaser shall be deemed to constitute the Purchaser as a partnership, an association, a joint
venture, or any other kind of entity, or create a presumption that the Purchasers are in any way acting in concert or as a group
with respect to such obligations or the transactions contemplated by this Agreement and any other Subscription Agreements. The
Purchaser shall be entitled to independently protect and enforce its rights, including without limitation the rights arising out
of this Agreement, and it shall not be necessary for any other Purchaser to be joined as an additional party in any proceeding
for such purpose.


 


y. Waiver
of Conflicts. Each party to this Agreement acknowledges that Mitchell Silberberg & Knupp LLP (“MSK”)
has in the past performed and may continue to perform legal services for certain of the Purchasers in matters unrelated to the
transactions described in this Agreement, including financings and other matters.  Accordingly, each party to this Agreement
hereby (a) acknowledges that they have had an opportunity to ask for information relevant to this disclosure; (b) acknowledges
that MSK represented the Company and Amesite in the transaction contemplated by this Agreement and has not represented any individual
Purchaser in connection with such transaction; and (c) gives its informed consent to MSK’s representation of certain
of the Purchasers in such unrelated matters and to MSK’s representation of the Company and Amesite in connection with this
Agreement and the transactions contemplated hereby. Further, each party to this Agreement hereby acknowledges that MSK anticipates
that it will advise the Company following the Merger.


 


[Signature page follows.]


 




    27


     


    

 


IN WITNESS WHEREOF, the Company has duly executed this Agreement
as of the ____ day of _________, 2018.


 


	 	Lola One Acquisition Corporation 
	 	(to be renamed “Amesite Inc.”)
	 	 	 
	 	By:	             
	 	Name:
	 	Title:


 


 




     


     


    

 


How to subscribe for Shares in the private
offering of


Lola One Acquisition Corporation (to
be renamed Amesite Inc.)


 


		1.	Complete, Sign and Date the Omnibus Signature Page for the Subscription Agreement
and Registration Rights Agreement.



 


		2.	Initial the Accredited Investor Certification in the appropriate place or
places.



 


		3.	Complete and sign the Investor Profile.



 


		4.	Review the Anti Money Laundering Requirements summary.



 


		5.	Complete and sign the Selling Securityholder Notice and Questionnaire attached
hereto as Annex A.



 


		6.	Email all completed forms to your broker.



 


		7.	If you are paying the Purchase Price by check,
a certified or other bank check for the exact dollar amount of the Purchase Price for the number of Shares you are purchasing
should be made payable to the order of “Signature Bank, as Escrow Agent for Lola One Acquisition Corporation ”
and should be sent directly to the Placement Agent.



 


Checks
take up to 5 business days to clear. A check must be received by the Escrow Agent at least 6 business days before the closing
date.


 


		8.	If you are paying the Purchase Price by wire transfer, you should send a wire transfer
for the exact dollar amount of the Purchase Price for the number of Shares you are purchasing according to the following instructions:



 


		Bank Name:	Signature Bank



		Bank Address:	**********



		Acct. Name:	Signature Bank as Escrow Agent for Lola One Acquisition
Corp.



		ABA Number:	**********



		A/C Number:	**********



		Swift Code:	**********



		FBO:	Purchaser Name



			Social Security Number



			Address



 




     


     


    

 


LOLA ONE ACQUISITION CORPORATION (to
be renamed Amesite Inc.)


OMNIBUS SIGNATURE PAGE TO


SUBSCRIPTION AGREEMENT AND REGISTRATION
RIGHTS AGREEMENT


 


The undersigned, desiring to: (i) enter
into the Subscription Agreement, dated as of ____________ ___,1
2018 (the “Subscription Agreement”), between the undersigned, Lola One Acquisition Corporation (to
be renamed Amesite Inc.) a Delaware corporation (the “Company”), and the other parties thereto, in
or substantially in the form furnished to the undersigned, (ii) enter into the Registration Rights Agreement (the “Registration
Rights Agreement”), among the undersigned, the Company and the other parties thereto, in or substantially in the
form furnished to the undersigned and (iii) purchase the Shares of the Company’s securities as set forth in the Subscription
Agreement and below, hereby agrees to purchase such Shares from the Company and further agrees to join the Subscription Agreement
and the Registration Rights Agreement as a party thereto, with all the rights and privileges appertaining thereto, and to be bound
in all respects by the terms and conditions thereof. The undersigned specifically acknowledges having read the representations
section in the Subscription Agreement entitled “Representations and Warranties of the Purchaser” and hereby represents
that the statements contained therein are complete and accurate with respect to the undersigned as a Purchaser.


 


IN WITNESS WHEREOF, the Purchaser hereby
executes the Subscription Agreement and the Registration Rights Agreement.


 


Dated: ________________, 2018


 


	 	X	$	1.50	=	$	 
	Number of Shares	 	 	Purchase Price per Share	 	 	Total Purchase Price


 


	PURCHASER (individual)	 	PURCHASER (entity)
	 	 	 
	 	 	 
	Signature	 	Name of Entity
	 	 	 
	 	 	 
	Print Name	 	Signature
	 	 	 
	 	 	Print Name: 	              
	Signature (if Joint Tenants or Tenants in Common)	 	Title: 	 
	 	 	 
	Address of Principal Residence:	 	Address of Executive Offices:
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	Social Security Number(s):	 	IRS Tax Identification Number:
	 	 	 
	 	 	 
	Telephone Number:	 	Telephone Number:
	 	 	 
	 	 	 
	Facsimile Number:	 	Facsimile Number:
	 	 	 
	 	 	 
	E-mail Address:	 	E-mail Address:


 


 






1
Will reflect the Closing Date. Not to be completed by Purchaser.




 




     


     


    

 


LOLA ONE ACQUISITION CORPORATION (to
be renamed AMESITE INC.)


ACCREDITED INVESTOR CERTIFICATION


 


For Individual Investors Only


 


(all Individual Investors
must INITIAL where appropriate):


 


		Initial _______	I have a net worth of at least US$1 million either individually
or through aggregating my individual holdings and those in which I have a joint, community property or other similar shared ownership
interest with my spouse. (For purposes of calculating your net worth under this paragraph, (a) your primary residence
shall not be included as an asset; (b) indebtedness secured by your primary residence, up to the estimated fair market value
of your primary residence at the time of your purchase of the securities, shall not be included as a liability (except that if
the amount of such indebtedness outstanding at the time of your purchase of the securities exceeds the amount outstanding 60 days
before such time, other than as a result of the acquisition of your primary residence, the amount of such excess shall be included
as a liability); and (c) indebtedness that is secured by your primary residence in excess of the estimated fair market value of
your primary residence at the time of your purchase of the securities shall be included as a liability.)



 


		Initial _______	I have had an annual gross income for the past two years
of at least US$200,000 (or US$300,000 jointly with my spouse) and expect my income (or joint income, as appropriate) to reach
the same level in the current year.



 


		Initial _______	I am a director or executive
officer of Amesite Inc. or Lola One Acquisition Corporation.



 


 


For Non-Individual
Investors (Entities)


 


(all
Non-Individual Investors must INITIAL where appropriate):


 


		Initial _______	The investor certifies that it is a partnership, corporation,
limited liability company or business trust that is 100% owned by persons who meet at least one of the criteria for Individual
Investors set forth above (in which case each such person must complete the Accreditor Investor Certification for Individuals
above as well the remainder of this questionnaire) .



 


		Initial _______	The investor certifies that it is a partnership, corporation,
limited liability company or business trust that has total assets of at least US$5 million and was not formed for the purpose
of investing the Company.



 


		Initial _______	The investor certifies that it is an employee benefit plan
whose investment decision is made by a plan fiduciary (as defined in ERISA §3(21)) that is a bank, savings and loan association,
insurance company or registered investment advisor.



 


		Initial _______	The investor certifies that it is an employee benefit plan
whose total assets exceed US$5,000,000 as of the date of this Agreement.



 


		Initial _______	The undersigned certifies that it is a self-directed employee
benefit plan whose investment decisions are made solely by persons who meet at least one of the criteria for Individual Investors.



 


		Initial _______	The investor certifies that it is a U.S. bank, U.S. savings
and loan association or other similar U.S. institution acting in its individual or fiduciary capacity.



 


		Initial _______	The undersigned certifies that it is a broker-dealer registered
pursuant to §15 of the Securities Exchange Act of 1934.



 


		Initial _______	The investor certifies that it is an organization described
in §501(c)(3) of the Internal Revenue Code with total assets exceeding US$5,000,000 and not formed for the specific purpose
of investing in the Company.



 


		Initial _______	The investor certifies that it is a trust with total assets
of at least US$5,000,000, not formed for the specific purpose of investing in the Company, and whose purchase is directed by a
person with such knowledge and experience in financial and business matters that such person is capable of evaluating the merits
and risks of the prospective investment.



 


		Initial _______	The investor certifies that it is a plan established and
maintained by a state or its political subdivisions, or any agency or instrumentality thereof, for the benefit of its employees,
and which has total assets in excess of US$5,000,000.



 


		Initial _______	The investor certifies that it is an insurance company
as defined in §2(13) of the Securities Act of 1933, or a registered investment company.



 




     


     


    

 


Lola One Acquisition Corporation (to
be renamed Amesite Inc.)


Investor Profile

(Must be completed by Investor)


 


Section A - Personal Investor Information 


 


Investor Name(s): _________________________________________________________________________________


Individual executing Profile or Trustee: _________________________________________________________________


Social Security Numbers / Federal I.D. Number: ___________________________________________________________


 


	Date of Birth:	________________________	 	Marital Status:_________________________
	Joint Party Date of Birth:	________________________	 	Investment Experience (Years):____________
	Annual Income:	________________________	 	 
	Net Worth*:	________________________	 	 




Home Street Address: ______________________________________________________________________________


Home City, State & Zip Code: ________________________________________________________________________


Home Phone: ________________________ Home Fax: ___________________
Home Email: ______________________


Employer: _______________________________________________________________________________________


Employer Street Address: ___________________________________________________________________________


Employer City, State & Zip Code: _____________________________________________________________________


Bus. Phone: _______________________ Bus. Fax: _______________________
Bus. Email: ______________________


Type of Business: _________________________________________________________________________________


Outside Broker/Dealer: _____________________________________________________________________________


 


Section B – Certificate Delivery
Instructions


 


____ Please deliver certificate to the Placement Agent for
deposit into my brokerage account


____ Please deliver certificate to the Home Address listed in
Section A.


____ Please deliver certificate to the following address: _______________________________________


 


Section C – Form of Payment
– Check or Wire Transfer


 


____ Check
payable to Signature Bank, as Escrow Agent for Lola One Acquisition Corporation



____ Wire funds from my outside account
according to instructions of the Subscription Agreement.


____ The funds for this investment
are rolled over, tax deferred from __________ within the allowed 60 day window.


 


Please check if you are a FINRA member
or affiliate of a FINRA member firm: ____


 


	 	 	 
	Investor Signature(s)	 	Date


 


		*	For purposes of calculating your net worth in this form, (a) your primary residence shall
not be included as an asset; (b) indebtedness secured by your primary residence, up to the estimated fair market value of your
primary residence at the time of your purchase of the securities, shall not be included as a liability (except that if the amount
of such indebtedness outstanding at the time of your purchase of the securities exceeds the amount outstanding 60 days before such
time, other than as a result of the acquisition of your primary residence, the amount of such excess shall be included as a liability);
and (c) indebtedness that is secured by your primary residence in excess of the estimated fair market value of your primary residence
at the time of your purchase of the securities shall be included as a liability. 





     


     


    

 


ANTI MONEY LAUNDERING REQUIREMENTS


 


The USA PATRIOT Act


 


The USA PATRIOT Act is designed to detect,
deter, and punish terrorists in the United States and abroad. The Act imposes new anti-money laundering requirements on brokerage
firms and financial institutions. Since April 24, 2002 all brokerage firms have been required to have new, comprehensive anti-money
laundering programs.


 


To help you understand these efforts, we
want to provide you with some information about money laundering and our steps to implement the USA PATRIOT Act.


 


What is money laundering?


 


Money laundering is the process of disguising
illegally obtained money so that the funds appear to come from legitimate sources or activities. Money laundering occurs in connection
with a wide variety of crimes, including illegal arms sales, drug trafficking, robbery, fraud, racketeering, and terrorism.


 


How big is the problem and why is it
important?


 


The use of the U.S. financial system by
criminals to facilitate terrorism or other crimes could well taint our financial markets. According to the U.S. State Department,
one recent estimate puts the amount of worldwide money laundering activity at $1 trillion a year.


 


What are we required to do to eliminate
money laundering?


 


Under rules required by the USA PATRIOT
Act, our anti-money laundering program must designate a special compliance officer, set up employee training, conduct independent
audits, and establish policies and procedures to detect and report suspicious transaction and ensure compliance with such laws.
As part of our required program, we may ask you to provide various identification documents or other information. Until you provide
the information or documents we need, we may not be able to effect any transactions for you.


 




     


     


    

 


DISCLOSURE SCHEDULE


 


See attached.


 


 


  


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 



     


     


    

 


Company
Disclosure Schedule


 


This Company Disclosure Schedule is made
and given pursuant to that certain Subscription Agreement (the “Agreement”) by and among Lola One Acquisition
Corporation (to be renamed Amesite Inc.) (the “Company”), and the Purchaser set forth on the signature
page thereto, dated as of April 27, 2018 and should be considered an integral part of the Agreement. This Company Disclosure Schedule
shall be arranged in paragraphs corresponding to the numbered and lettered paragraphs contained in Section 3 of the Agreement;
and to the extent that it is reasonably apparent from the context thereof that such disclosure also applies to any other numbered
paragraph contained in Section 3, the disclosures in any numbered paragraph of the Company Disclosure Schedule shall qualify such
other corresponding numbered paragraph in Section 3. Any terms defined in the Agreement will have the same meaning when used in
this Company Disclosure Schedule as when used in the Agreement, unless the context otherwise requires.


 


Nothing in this Company Disclosure Schedule
is intended to broaden the scope of any representation or warranty contained in the Agreement or to create any covenant. Inclusion
of any item in this Company Disclosure Schedule (1) does not represent a determination that such item is material or establish
a standard of materiality, (2) does not represent a determination that such item did not arise in the ordinary course of business,
(3) does not represent a determination that the transactions contemplated by the Agreement require the consent of third parties,
and (4) will not constitute, or be deemed to be, an admission to any third party concerning such item.


 


Matters reflected in this Company Disclosure
Schedule are not necessarily limited to matters required by the Agreement to be reflected herein. Any additional matters are set
forth for information purposes and do not necessarily include other matters of a similar nature. Any disclosures contained in this
Company Disclosure Schedule which refer to a document are qualified in their entirety by reference to the text of such document
and all schedules, exhibits and other documents incorporated by reference therein.


 


The section headings contained in this Company
Disclosure Schedule are inserted for convenience only and shall not affect in any way the meaning or interpretation of this Company
Disclosure Schedule.


 




     


     


    

 


3a. Organization and Qualification.


 


Subsidiaries of the Company


 


		·	Amesite Inc. to be renamed Amesite Operating Company at the effective time of the Merger.



 




     


     


    

 


3c. Capitalization.


 


Pro Forma Capitalization


 


Minimum Offering Amount


 


	 	 	Fully Diluted	 
	 	 	Total	 	 	Percent	 
	 	 	Common Shares	 	 	Ownership	 
	Management/Insiders	 	 	 	 	 	 
	Amesite Stockholders	 	 	5,833,333	 	 	 	39.00	%
	Equity Incentive Plan (EIP)	 	 	2,529,000	 	 	 	16.91	%
	Subtotal:	 	 	8,362,333	 	 	 	55.90	%
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Pre-Merger Company Affiliates	 	 	3,500,000	1	 	 	23.40	%
	Subtotal:	 	 	3,500,000	 	 	 	23.40	%
	 	 	 	 	 	 	 	 	 
	$3 M Offering2	 	 	 	 	 	 	 	 
	PPO Investors @ $1.50/share	 	 	2,000,000	 	 	 	13.37	%
	Insider Investment @1.20/share3	 	 	895,834	 	 	 	5.99	%
	Brokers’ Warrants4	 	 	200,000	 	 	 	1.34	%
	Subtotal:	 	 	3,095,834	 	 	 	20.70	%
	 	 	 	 	 	 	 	 	 
	Total:	 	 	14,958,167	 	 	 	100.00	%



 


1 Includes 400,000 shares issuable upon exercise
of a pre-funded warrant to purchase Common Stock.


2 Assumes no sales pursuant to the $3 M Over-Subscription
Option.


3 Inside Investors subject to 24 month lock-up period.


4 Brokers' Warrants represent 10% of shares sold
to Investors in the PPO @ $1.50 exercise price and 5 year term.


 






    28


     


    

 


Maximum Offering Amount


 


	 	 	Fully Diluted	 
	 	 	Total	 	 	Percent	 
	 	 	Common Shares	 	 	Ownership	 
	Management/Insiders	 	 	 	 	 	 
	Amesite Stockholders	 	 	5,833,333	 	 	 	32.60	%
	Equity Incentive Plan (EIP)	 	 	2,529,000	 	 	 	14.14	%
	Subtotal:	 	 	8,362,333	 	 	 	46.74	%
	 	 	 	 	 	 	 	 	 
	Pre-Merger Company Affiliates	 	 	3,500,000	1	 	 	19.56	%
	Subtotal:	 	 	3,500,000	 	 	 	19.56	%
	 	 	 	 	 	 	 	 	 
	$7 M Offering2	 	 	 	 	 	 	 	 
	PPO Investors @ $1.50/share	 	 	4,666,666	 	 	 	26.08	%
	Insider Investment @1.20/share3	 	 	895,834	 	 	 	5.01	%
	Brokers’ Warrants4	 	 	466,667	 	 	 	2.61	%
	Subtotal:	 	 	6,029,167	 	 	 	33.70	%
	 	 	 	 	 	 	 	 	 
	Total:	 	 	17,891,500	 	 	 	100.00	%



 


1 Includes 400,000 shares issuable upon exercise
of a pre-funded warrant to purchase Common Stock.


2 Assumes no sales pursuant to the $3 M Over-Subscription
Option.


3 Inside Investors subject to 24 month lock-up period.


4 Brokers' Warrants represent 10% of shares sold
to Investors in the PPO @ $1.50 exercise price and 5 year term.


 


(ii) Prior to the closing of the Merger, Amesite plans to issue
equity awards to purchase up to 883,334 shares of its capital stock to its directors, employees and consultants. Upon the closing
of the Merger, the Company will assume such equity awards and issue such shares based on the conversion ratio set forth in the
Merger Agreement.  In addition, the Company will issue a pre-funded warrant to purchase up to 400,000 shares of Common
Stock prior to the closing of the Merger. There are no other rights to purchase Common Stock outstanding.


 


(iii) See Schedule 3(dd).


 


(iv) None.


 


(vi) None.


 




     


     


    

 


3e. No Conflicts.


 


None.


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 




     


     


    

 


3f. Absence of Litigation.


 


None.


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 




     


     


    

 


3k. Intellectual Property Rights.


 


N/A.


 


 


 


 


 


 


 


 


 


 


 


 




     


     


    

 


3n. Title.


 


N/A.


 


 


 


 


 


 


 


 


 


 


 


 


 


 




     


     


    

 


3q. Rights of First Refusal.


 


Common Stock Purchase Agreement by and between Amesite and Ann
Marie Sastry, dated 11-14-17.


 


 


 


 


 


 


 


 


 


 


 


 


 


 




     


     


    

 


3dd. Use of Proceeds


 


As of November 30, 2017, the Company had a promissory note outstanding
to a stockholder with an amount due of $17,197 including accrued interest of $572. The stockholder may continue to advance funds
under the terms of the note.


 


The Company may also reimburse the founder of Amesite for business
expenses incurred prior to consummation of the Merger in an amount not to exceed $500,000.


 




     


     


    

 


EXHIBIT A


 


Form of Registration Rights
Agreement


 


 


 


 


 


 




     


     


    

 


Annex A


 


LOLA
ONE ACQUISITION CORPORATION


 


(TO
BE RENAMED AMESITE INC.)


 


Selling Securityholder Notice
and Questionnaire


 


The
undersigned beneficial owner of Registrable Securities of Lola One Acquisition Corporation (to be renamed Amesite Inc.),
a Delaware corporation (the “Company”), understands that the Company has filed
or intends to file with the U.S. Securities and Exchange Commission a registration statement (the “Registration Statement”)
for the registration and resale under Rule 415 of the Securities Act of 1933, as amended, of the Registrable Securities, in accordance
with the terms of the Registration Rights Agreement (the “Registration Rights Agreement”) to which this document
is annexed. A copy of the Registration Rights Agreement is available from the Company upon request at the address set forth below.
All capitalized terms not otherwise defined herein shall have the meanings ascribed thereto in the Registration Rights Agreement.


 


Certain legal consequences
arise from being named as a selling security holder in the Registration Statement and the related prospectus. Accordingly, holders
and beneficial owners of Registrable Securities are advised to consult their own securities law counsel regarding the consequences
of being named or not being named as a selling security holder in the Registration Statement and the related prospectus.


 


NOTICE


 


The undersigned beneficial
owner (the “Selling Securityholder”) of Registrable Securities hereby elects to include the Registrable Securities
owned by it in the Registration Statement.


 


The undersigned hereby
provides the following information to the Company and represents and warrants that such information is accurate:


 


QUESTIONNAIRE


 


		1.	Name:



 


		(a)	Full Legal Name of Selling Securityholder



 


	 	 
	 	 



 

		(b)	Full Legal Name of Registered Holder (holder of record) (if not the same as (a) above) through
which Registrable Securities are held:



 


	 	 
	 	 



 





		(c)	If you are not a natural person, full Legal Name of Natural Control Person (which means a natural
person who directly or indirectly alone or with others has power to vote or dispose of the securities covered by this Questionnaire):



 


	 	 
	 	 



 




		2.	Address for Notices to Selling Securityholder:



 


	 
	 
	 
	Telephone: ________________________________________ Fax: __________________________________________
	Email: __________________________________________________________________________________________
	Contact Person: ___________________________________________________________________________________



 



     


     


    

 

		3.	Broker-Dealer Status:



 


		(a)	Are you a broker-dealer?



 


Yes ☐ No ☐


 


		(b)	If “yes” to Section 3(a), did you receive your Registrable Securities as compensation
for investment banking services to the Company?



 


Yes ☐ No
☐


 


 Note: If
“no” to Section 3(b), the Commission’s staff has indicated that you should be identified as an underwriter in
the Registration Statement.


 


		(c)	Are you an affiliate of a broker-dealer?



 


Yes ☐ No
☐


 


		(d)	If you are an affiliate of a broker-dealer, do you certify that you purchased the Registrable Securities
in the ordinary course of business, and at the time of the purchase of the Registrable Securities to be resold, you had no agreements
or understandings, directly or indirectly, with any person to distribute the Registrable Securities?



 


Yes ☐ No
☐


 


		Note:	If “no” to Section 3(d), the Commission’s
staff has indicated that you should be identified as an underwriter in the Registration Statement.



 


4. Beneficial
Ownership of Securities of the Company Owned by the Selling Securityholder:


 


Except as set forth below
in this Item 4, the undersigned is not the beneficial or registered owner of any securities of the Company.


 


		(a)	Please list the type (common stock, warrants, etc.) and amount of all securities of the Company
(including any Registrable Securities) beneficially owned1 by the Selling Securityholder:






	 	 
	 	 


 


5. Relationships
with the Company:


 


Except as set forth below,
neither you nor (if you are a natural person) any member of your immediate family, nor (if you are not a natural person) any of
your affiliates2, officers, directors or principal equity holders (owners of 5% of more of the equity securities of
the undersigned) has held any position or office or has had any other material relationship with the Company (or its predecessors
or affiliates) during the past three years.


 


State any exceptions here:





	 	 
	 	 



 


 






		1	Beneficially Owned:  A “beneficial
owner” of a security includes any person who, directly or indirectly, through any contract, arrangement, understanding,
relationship or otherwise has or shares (i) voting power, including the power to direct the voting of such
security, or (ii) investment power, including the power to dispose of, or direct the disposition of,
such security.  In addition, a person is deemed to have “beneficial ownership” of a security of which such person
has the right to acquire beneficial ownership at any time within 60 days, including, but not limited to, any right to acquire
such security: (i) through the exercise of any option, warrant or right, (ii) through the conversion of any security
or (iii) pursuant to the power to revoke, or the automatic termination of, a trust, discretionary account or similar arrangement.



 


It is possible that a security
may have more than one “beneficial owner,” such as a trust, with two co-trustees sharing voting power, and the settlor
or another third party having investment power, in which case each of the three would be the “beneficial owner” of
the securities in the trust.  The power to vote or direct the voting, or to invest or dispose of, or direct the investment
or disposition of, a security may be indirect and arise from legal, economic, contractual or other rights, and the determination
of beneficial ownership depends upon who ultimately possesses or shares the power to direct the voting or the disposition of the
security.


 


The final determination of the
existence of beneficial ownership depends upon the facts of each case.  You may, if you believe the facts warrant it, disclaim
beneficial ownership of securities that might otherwise be considered “beneficially owned” by you.


 


		2	Affiliate:  An “affiliate” is a company or person that directly,
or indirectly through one or more intermediaries, controls you, or is controlled by you, or is under common control with you.



 



     


     


    

 


The undersigned agrees
to promptly notify the Company of any inaccuracies or changes in the information provided herein that may occur subsequent to the
date hereof at any time while the Registration Statement remains effective.


 


By signing below, the
undersigned consents to the disclosure of the information contained herein in its answers to Items 1 through 5 and the inclusion
of such information in the Registration Statement and the related prospectus and any amendments or supplements thereto. The undersigned
understands that such information will be relied upon by the Company in connection with the preparation or amendment of the Registration
Statement and the related prospectus and any amendments or supplements thereto.


 


IN WITNESS WHEREOF
the undersigned, by authority duly given, has caused this Selling Securityholder Notice and Questionnaire to be executed and delivered
either in person or by its duly authorized agent.


 





	BENEFICIAL OWNER (individual)	 	BENEFICIAL OWNER (entity)
	 	 	 
	 	 	 
	Signature	 	Name of Entity
	 	 	 
	 	 	 
	Print Name	 	Signature
	 	 	 
	 	 	Print Name: 	     
	Signature (if Joint Tenants or Tenants in Common)	 	 	 
	 	 	Title: 	 




 


PLEASE E-MAIL A COPY OF THE COMPLETED
AND EXECUTED SELLING SECURITYHOLDER NOTICE AND QUESTIONNAIRE, AND RETURN THE ORIGINAL BY OVERNIGHT MAIL, TO:


 


Mitchell Silberberg & Knupp LLP


12 East 49th Street, 30th Floor


New York, New York 10017


Attention: Sarah Bernardo


Email: s2b@msk.com