Document:

Exhibit 10.17

THE WARRANTS REPRESENTED BY THIS WARRANT
CERTIFICATE ARE SUBJECT TO CERTAIN TRANSFER RESTRICTIONS.

THE SECURITIES REPRESENTED BY THIS
CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AND HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW
TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH SALE OR DISTRIBUTION MAY BE EFFECTED WITHOUT AN EFFECTIVE
REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL IN A FORM SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS
NOT REQUIRED UNDER THE SECURITIES ACT OF 1933.

THESE WARRANTS WILL EXPIRE AND BECOME
NULL AND VOID

AT 5:00 P.M. (PACIFIC TIME) ON AUGUST 1, 2021.

SHARE PURCHASE WARRANTS TO PURCHASE

SHARES OF COMMON STOCK OF

GREENWOOD HALL, INC.

This Warrant is issued to California
United Bank, a California banking corporation (the “Holder”) by Greenwood Hall, Inc. (the “Company”),
a Nevada corporation.

THIS IS TO CERTIFY THAT the Holder has
the right to purchase, upon and subject to the terms and conditions hereinafter referred to, up to Five Hundred Twenty-Three Thousand
Five Hundred Eighty-Seven (523,587) fully paid and nonassessable shares of the Company’s common stock (each a “Share”
and collectively the “Shares”) on or before 5:00 p.m. (Pacific time) on August 1, 2021 (the “Expiry
Date”) at an exercise price of US $1.00 per Share (the “Exercise Price”) on the terms and conditions
attached hereto as Appendix A (the “Terms and Conditions”).

		1.	ONE (1) WARRANT AND THE EXERCISE PRICE ARE REQUIRED TO PURCHASE ONE SHARE. THIS CERTIFICATE REPRESENTS
Five Hundred Twenty-Three Thousand Five Hundred Eighty-Seven (523,587) WARRANTS.

		2.	These Warrants are issued subject to the Terms and Conditions, and the Warrant Holder may exercise
the right to purchase Shares only in accordance with those Terms and Conditions.

		3.	Nothing contained herein or in the Terms and Conditions will confer any right upon the Holder hereof or any other person to
subscribe for or purchase any Shares at any time subsequent to the Expiry Date, and from and after such time, this Warrant and
all rights hereunder will be void and of no value.

IN WITNESS WHEREOF the Company has executed this Warrant
Certificate this 19th day of November, 2015.

GREENWOOD HALL, INC.

Per:____________________________

Authorized Signatory – John Hall

 

    	 

    	 

    

APPENDIX A

 

TERMS AND CONDITIONS dated November 19, 2015,
attached to the Warrants issued by Greenwood Hall, Inc.

		1.	INTERPRETATION

1.1       Definitions

		(a)	In these Terms and Conditions, unless there is something in the subject matter or context inconsistent
therewith:

		(i)	“Company” means Greenwood Hall, Inc., until a successor corporation will have
become such as a result of consolidation, amalgamation or merger with or into any other corporation or corporations, or as a result
of the conveyance or transfer of all or substantially all of the properties and estates of the Company as an entirety to any other
corporation and thereafter “Company” will mean such successor corporation;

		(ii)	“Company’s Auditors” means an independent firm of accountants duly appointed
as auditors of the Company;

		(iii)	“Director” means a director of the Company for the time being, and reference,
without more, to action by the directors means action by the directors of the Company as a Board, or whenever duly empowered, action
by an executive committee of the Board;

		(iv)	“herein”, “hereby” and similar expressions refer to these
Terms and Conditions as the same may be amended or modified from time to time; and the expression “Article” and “Section,”
followed by a number refer to the specified Article or Section of these Terms and Conditions;

		(v)	“person” means an individual, corporation, partnership, trustee or any unincorporated
organization and words importing persons have a similar meaning;

		(vi)	“shares” means the common shares in the capital of the Company as constituted
at the date hereof and any shares resulting from any stock dividend payable in shares, or subdivision or consolidation of the shares;

		(vii)	“Warrant Holders” or “Holders” means the holders of the Warrants;
and

		(viii)	“Warrants” means the warrants of the Company issued and presently authorized
and for the time being outstanding.

1.2       Gender

Words importing the singular number
include the plural and vice versa and words importing the masculine gender include the feminine and neuter genders.

1.3       Interpretation not affected
by Headings

The division of these Terms and Conditions
into Articles and Sections, and the insertion of headings are for convenience of reference only and will not affect the construction
or interpretation thereof.

 

    

     

    

1.4       Applicable Law

The Warrant and the terms hereof are
governed by the laws of the State of Nevada. The Holder, in its personal or corporate capacity and, if applicable, on behalf of
each beneficial purchaser for whom it is acting, irrevocably attorns to the jurisdiction of the courts of the State of California.

		2.	ISSUE OF WARRANTS

2.1        Additional Warrants

The Company may at any time and from
time to time issue additional warrants or grant options or similar rights to purchase shares of its capital stock.

2.2        Issue in substitution
for Lost Warrants

		(a)	In case a Warrant becomes mutilated, lost, destroyed or stolen, the Company, at its sole discretion,
may issue and deliver a new Warrant of like date and tenor as the one mutilated, lost, destroyed or stolen, in exchange for and
in place of and upon cancellation of such mutilated Warrant, or in lieu of, and in substitution for such lost, destroyed or stolen
Warrant and the substituted Warrant will be entitled to the benefit hereof and rank equally in accordance with its terms with all
other Warrants issued or to be issued by the Company.

		(b)	The applicant for the issue of a new Warrant pursuant hereto will bear the cost of the issue thereof
and in case of loss, destruction or theft furnish to the Company such evidence of ownership and of loss, destruction, or theft
of the Warrant so lost, destroyed or stolen as will be satisfactory to the Company in its discretion and such applicant may also
be required to furnish indemnity in amount and form satisfactory to the Company in its sole discretion, and will pay the reasonable
charges of the Company in connection therewith.

2.3        Warrant Holder Not a
Shareholder

The holding of a Warrant will not constitute
the Holder thereof as a shareholder of the Company, nor entitle him to any right or interest in respect thereof except as in the
Warrant expressly provided.

		3.	NOTICE

3.1        Notice to Warrant Holders

Any notice required or permitted to
be given to the Holders will be in writing and may be given by prepaid registered post, electronic facsimile transmission or other
means of electronic communication capable of producing a printed copy to the address of the Holder appearing on the Holder’s
Warrant or to such other address as any Holder may specify by notice in writing to the Company, and any such notice will be deemed
to have been given and received by the Holder to whom it was addressed if mailed, on the third day following the mailing thereof,
if by facsimile or other electronic communication, on successful transmission, or, if delivered, on delivery; but if at the time
or mailing or between the time of mailing and the third business day thereafter there is a strike, lockout, or other labour disturbance
affecting postal service, then the notice will not be effectively given until actually delivered.

3.2       Notice to the Company

Any notice required or permitted
to be given to the Company will be in writing and may be given by prepaid registered post, electronic facsimile transmission
or other means of electronic communication capable of producing a printed copy to the address of the Company set forth below
or such other address as the Company may specify by notice in writing to the Holder, and any such notice will be deemed to
have been given and received by the Company to whom it was addressed if mailed, on the third day following the mailing
thereof, if by facsimile or other electronic communication, on successful transmission, or, if delivered, on delivery; but if
at the time or mailing or between the time of mailing and the third business day thereafter there is a strike, lockout, or
other labour disturbance affecting postal service, then the notice will not be effectively given until actually
delivered:

 

    

     

    

 

Greenwood Hall, Inc.

12424 Wilshire Boulevard

Suite 1030

Los Angeles, California 90024, U.S.A.

Attention: John Hall, Chief Executive Officer

		4.	EXERCISE OF WARRANTS

4.1       Method of Exercise of
Warrants

The right to purchase shares conferred
by the Warrants may be exercised by the Holder surrendering the Warrant Certificate representing same, with a duly completed and
executed subscription in the form attached hereto and a bank draft or certified cheque payable to the Company for the purchase
price applicable at the time of surrender in respect of the shares subscribed for in lawful money of the United States of America,
to the Company at the address set forth in, or from time to time specified by the Company pursuant to, Section 3.2.

4.2       Effect of Exercise of
Warrants

		(a)	Upon surrender and payment as aforesaid the shares so subscribed for will be deemed to have been
issued and such person or persons will be deemed to have become the Holder or Holders of record of such shares on the date of such
surrender and payment, and such shares will be issued at the subscription price in effect on the date of such surrender and payment.

		(b)	Within ten business days after surrender and payment as aforesaid, the Company will forthwith cause
to be delivered to the person or persons in whose name or names the shares so subscribed for are to be issued as specified in such
subscription or mailed to him or them at his or their respective addresses specified in such subscription, a certificate or certificates
for the appropriate number of shares not exceeding those which the Warrant Holder is entitled to purchase pursuant to the Warrant
surrendered.

4.3       Subscription for Less
Than Entitlement

The Holder of any Warrant may subscribe
for and purchase a number of shares less than the number which he is entitled to purchase pursuant to the surrendered Warrant.
In the event of any purchase of a number of shares less than the number which can be purchased pursuant to a Warrant, the Holder
thereof upon exercise thereof will in addition be entitled to receive a new Warrant in respect of the balance of the shares which
he was entitled to purchase pursuant to the surrendered Warrant and which were not then purchased.

4.4       Warrants for Fractions
of Shares

To the extent that the Holder of any
Warrant is entitled to receive on the exercise or partial exercise thereof a fraction of a share, such right may be exercised in
respect of such fraction only in combination with another Warrant or other Warrants which in the aggregate entitle the Holder to
receive a whole number of such shares. The Company shall, in lieu of issuing any fractional share, pay the Holder entitled to such
fraction a sum in cash equal to such fraction (calculated to the nearest 1/100th of a share) multiplied by the then effective Exercise
Price on the date the Form of Subscription is received by the Company.

4.5       Expiration of Warrants

After the expiration of the period within
which a Warrant is exercisable, all rights thereunder will wholly cease and terminate and such Warrant will be void and of no effect.

    	 

    	 

    

4.6       Time of Essence

Time will be of the essence hereof.

4.7       Subscription Price

Each Warrant is exercisable at a price
per share (the “Exercise Price”) of US$1.00. One (1) Warrant and the Exercise Price are required to subscribe
for each share during the term of the Warrants.

4.8       Adjustment of Exercise
Price

		(a)	The Exercise Price and the number of shares deliverable upon the exercise of the Warrants will
be subject to adjustment in the event and in the manner following:

		(i)	if and whenever the shares at any time outstanding are increased by a stock dividend payable in
shares or subdivided into a greater or consolidated into a lesser number of shares, the Exercise Price will be decreased or increased
proportionately as the case may be; upon any such dividend, subdivision or consolidation the number of shares deliverable upon
the exercise of the Warrants will be increased or decreased proportionately as the case may be;

		(ii)	in case of any capital reorganization or of any reclassification of the capital of the Company
or in the case of the consolidation, merger or amalgamation of the Company with or into any other Company (hereinafter collectively
referred to as a “Reorganization”), each Warrant will after such Reorganization confer the right to purchase
the number of shares or other securities of the Company (or of the Company’s resulting from such Reorganization) which the
Warrant Holder would have been entitled to upon Reorganization if the Warrant Holder had been a shareholder at the time of such
Reorganization.

In any such case, if necessary,
appropriate adjustments will be made in the application of the provisions of this Section 4.8 relating to the rights and interest
thereafter of the Holders of the Warrants so that the provisions of this Section 4.8 will be made applicable as nearly as reasonably
possible to any shares or other securities deliverable after the Reorganization on the exercise of the Warrants.

The subdivision or consolidation
of shares at any time outstanding into a greater or lesser number of shares (whether with or without par value) will not be deemed
to be a Reorganization for the purposes of this clause 4.8(a)(ii).

		(b)	The adjustments provided for in this Section 4.8 are cumulative and will become effective immediately
after the record date or, if no record date is fixed, the effective date of the event which results in such adjustments.

		(c)	Upon any adjustment of the Exercise Price or any increase or decrease in the number of shares deliverable
upon the exercise of the Warrants, the Company shall give written notice thereof, by first class mail postage prepaid, addressed
to the registered Holder at the address of such Holder as shown on the books of the Company. The notice shall be prepared and signed
by the Company’s Chief Financial Officer and shall state the Exercise Price resulting from such adjustment and the increase
or decrease, if any, in the number of shares purchasable at such price upon the exercise of the Warrants, setting forth in reasonable
detail the method of calculation and the facts upon which such calculation is based.

    	 

    	 

    

4.9       Determination of Adjustments

If any questions will at any time arise
with respect to the Exercise Price or any adjustment provided for in Section 4.8, such questions will be conclusively determined
by the Company’s Auditors, or, if they decline to so act, any PCAOB-certified public accounting firm that the Company may
designate and who will have access to all appropriate records and such determination will be binding upon the Company and the Holders
of the Warrants.

4.10       Limitation on Exercise
of Warrants 

Holder acknowledges that if, after giving
effect to the issuance of shares after the exercise of any Warrants, the Holder (together with the Holder’s affiliates, and
any other persons acting as a group together with the Holder or any of the Holder’s affiliates), would beneficially own shares
in excess of the Beneficial Ownership Limitation (as defined below), the Holder may be required to comply with Regulation 13D relating
to a person or group of persons that acquires beneficial ownership of more than 5% of a voting class of a company’s equity
securities registered under Section 12 of the Securities Exchange Act of 1934 (the “Exchange Act”) including,
without limitation, filing Schedule 13D with the Securities and Exchange Commission (the “Commission”),
if applicable.  For purposes of the foregoing sentence, the number of shares of common stock of the Company beneficially owned
by the Holder and its affiliates shall include the number of shares of common stock of the Company issuable upon exercise of the
Warrants with respect to which such determination is being made, but shall exclude the number of shares of common stock of the
Company which would be issuable upon (i) exercise of the remaining, nonexercised portion of the Warrants beneficially owned by
the Holder or any of its affiliates and (ii) exercise or conversion of the unexercised or nonconverted portion of any other securities
of the Company subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned
by the Holder or any of its affiliates.  Except as set forth in the preceding sentence, for purposes of this Section 4.10,
beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated
thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in
compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in
accordance therewith. To the extent that the limitation contained in this Section 4.10 applies, the determination of whether the
exercised Warrants result in Holder exceeding the Beneficial Ownership Limitation (in relation to other securities owned by the
Holder together with any affiliates) shall be in the sole discretion of the Holder, and the Company shall have no obligation to
verify or confirm the accuracy of such determination and shall have no liability for exercises of the Warrants that cause Holder
or its affiliates to exceed the Beneficial Ownership Limitation. In addition, a determination as to any group status as contemplated
above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder.
For purposes of this Section 4.10, in determining the number of outstanding shares of common stock of the Company, the Holder may
rely on the number of outstanding shares of common stock of the Company as reflected in (A) the Company’s most recent periodic
or annual report filed with the Commission, as the case may be, (B) a more recent public announcement by the Company or (C) a more
recent written notice by the Company or the Transfer Agent setting forth the number of shares of common stock of the Company outstanding. 
In any case, the number of outstanding shares of common stock of the Company shall be determined after giving effect to the conversion
or exercise of securities of the Company, including the Warrants, by the Holder or its affiliates since the date as of which such
number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99%
of the number of shares of the common stock of the Company outstanding immediately after giving effect to the issuance of shares
of common stock of the Company issuable upon exercise of the Warrants. The provisions of this paragraph shall be construed and
implemented in a manner otherwise than in strict conformity with the terms of this Section 4.10 to correct this paragraph (or any
portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to
make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this
paragraph shall apply to a successor holder of the Warrants.

		5.	WAIVER OF CERTAIN RIGHTS

 

5.1       Immunity of Shareholders, etc.

 

    	 

    	 

    

 

The Warrant Holder, as part of the consideration for the issue
of the Warrants, waives and will not have any right, cause of action or remedy now or hereafter existing in any jurisdiction against
any past, present or future shareholder of the Company and any Directors and Officers of the Company, acting in their capacity
as a Director or Officer of the Company, in each case, solely for the issuance of shares pursuant to any Warrant or on any covenant,
agreement, representation or warranty by the Company herein contained or in the Warrant.

		6.	MODIFICATION OF TERMS, ETC.

6.1       Modification of Terms and Conditions for Certain Purposes

 

From time to time the Company may,
subject to the provisions of these presents, modify the Terms and Conditions hereof, for the
purpose of correction or rectification of any non-material ambiguities, defective provisions, errors or omissions herein that have
no material adverse effect on the Holder.

		7.	WARRANTS NOT TRANSFERABLE

Unless Holder makes a good faith determination
that a transfer or assignment of the Warrant is reasonably necessary for Holder to comply with regulatory compliance, the Warrant
and all rights attached to it are not transferable.

		8.	NO IMPAIRMENT

The Company will not, by charter amendment or by reorganization,
transfer of assets, consolidation, merger, dissolution, issue or sale of securities, or any other voluntary action, avoid or seek
to avoid the observance or performance of any terms of the Warrant Certificate. Upon the request of the Holder, the Company will
at any time during the period the Warrants are outstanding acknowledge in writing, in form satisfactory to Holder, the continued
validity of the Warrants and the Company’s obligations under the Warrant Certificate.

    	 

    	 

    

FORM OF SUBSCRIPTION

		TO:	Greenwood Hall, Inc.

12424 Wilshire Boulevard

Suite 1030

Los Angeles, California 90024, U.S.A.

Attention: John Hall, Chief Executive Officer

The undersigned Holder of the within
Warrants hereby subscribes for Five Hundred Twenty-Three Thousand Five Hundred Eighty-Seven (523,587) shares (the “Shares”)
of common stock of Greenwood Hall, Inc. (the “Company”) pursuant to the within Warrants at US$1.00 per Share
on the terms specified in the said Warrants.

This subscription is accompanied by
a certified cheque or bank draft payable to or to the order of the Company for the whole amount of the purchase price of the Shares.

The undersigned represents that, at
the time of the exercise of these Warrants, all of the representations and warranties contained in the subscription agreement(s)
between the Company and the undersigned pursuant to which these Warrants were issued are true and accurate.

The undersigned hereby directs that
the Shares be registered as follows:

	NAME(S) IN FULL	 	ADDRESS(ES)	 	NUMBER OF SHARES
	 	 	 	 	 

(Please print full name in which share
certificates are to be issued, stating whether Mr., Mrs. or Miss is applicable).

DATED this _________day of _________________,______.

In the presence of:

	Signature of Witness	 	Signature of Warrant Holder

Please print below your name and
address in full.

Name (Mr./Mrs./Miss)_______________________________________________________________

Address                        ________________________________________________________________

                                       ______________________________________________________________

LEGENDS

The certificates representing the
Shares acquired on the exercise of the Warrants will bear the following legends, if and as applicable:

THE SECURITIES REPRESENTED BY THIS
CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AND HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW
TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH SALE OR DISTRIBUTION MAY BE EFFECTED WITHOUT AN EFFECTIVE
REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL IN A FORM SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS
NOT REQUIRED UNDER THE SECURITIES ACT OF 1933.

    	 

    	 

    

INSTRUCTIONS FOR SUBSCRIPTION

The signature to the subscription must
correspond in every particular with the name written upon the face of the Warrant without alteration or enlargement or any change
whatever. If there is more than one subscriber, all must sign. In the case of persons signing by agent or attorney or by personal
representative(s), the authority of such agent, attorney or representative(s) to sign must be proven to the satisfaction of the
Company. If the Warrant certificate and the form of subscription are being forwarded by mail, registered mail must be employed.Exhibit 10.18

 

REGISTRATION RIGHTS AGREEMENT

 

This Registration Rights
Agreement (this “Agreement”) is made and entered into as of August 28, 2015, between Greenwood Hall, Inc., a
Nevada corporation (the “Company”), and each of the holders of the Registrable Securities (as hereinafter
defined) signatory hereto (each such holder, a “Holder” and, collectively, the “Holders”).

 

The Company and each Holder
hereby agree as follows:

 

1. Definitions.

 

As used in this Agreement,
the following terms shall have the following meanings:

 

“Advice”
shall have the meaning set forth in Section 6(d).

 

“Affiliate”
means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common
control with a Person, as such terms are used in and construed under Rule 405 under the Securities Act.

 

“Commission”
means the United States Securities and Exchange Commission.

 

“Common
Stock” means the common stock of the Company, par value $.001 per share, and any other class of securities into which
such securities may hereafter be reclassified or changed.

 

“Effectiveness
Date” means with respect to the Registration Statement required to be filed hereunder, the date that is 60 calendar days
from the date hereof, provided that if the Company is in possession of material non-public information, the Company will cause
the Registration Statement to be declared effective by the SEC within 30 days of the earlier of (a) the date of the disclosure
of such material non-public information or (b) the date that such information is no longer material (as applicable, the “Effectiveness
Date”)

 

“Effectiveness
Period” shall have the meaning set forth in Section 2(a).

 

“Event”
shall have the meaning set forth in Section 2(d).

 

“Event
Date” shall have the meaning set forth in Section 2(d).

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

“Indemnified
Party” shall have the meaning set forth in Section 5(c).

 

    

     

    

 

 

“Indemnifying
Party” shall have the meaning set forth in Section 5(c).

 

“Initial
Registration Statement” means the initial Registration Statement filed pursuant to this Agreement.

 

“Losses”
shall have the meaning set forth in Section 5(a).

 

“Person”
means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability
company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

“Plan
of Distribution” shall have the meaning set forth in Section 2(a).

 

“Proceeding”
means an action, claim, suit, investigation or proceeding (including, without limitation, an informal investigation or partial
proceeding, such as a deposition), whether commenced or threatened.

 

“Prospectus”
means the prospectus included in a Registration Statement (including, without limitation, a prospectus that includes any information
previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A promulgated
by the Commission pursuant to the Securities Act), as amended or supplemented by any prospectus supplement, with respect to the
terms of the offering of any portion of the Registrable Securities covered by a Registration Statement, and all other amendments
and supplements to the Prospectus, including post-effective amendments, and all material incorporated by reference or deemed to
be incorporated by reference in such Prospectus.

 

“Registrable
Securities” means, as of any date of determination, (a) all shares of Common Stock issued pursuant to the
Subscription Agreement or the Settlement Agreement as shown in the signature pages of the Holders and any securities
issued or then issuable upon any stock split, dividend or other distribution, recapitalization or similar event with respect to
the foregoing; provided, however, that any such Registrable Securities shall cease to be Registrable Securities
(and the Company shall not be required to file or maintain the effectiveness of any, or file another, Registration Statement hereunder
with respect thereto) when (a) a Registration Statement with respect to the sale of such Registrable Securities is declared effective
by the Commission under the Securities Act and such Registrable Securities have been disposed of by the Holder in accordance with
such effective Registration Statement, (b) such Registrable Securities have been previously sold in accordance with Rule 144 or
pursuant to any other available exemption, or (c) such securities become eligible for resale pursuant to Rule 144 (assuming that
such securities and any securities issuable upon exercise, conversion or exchange of which, or as a dividend upon which, such
securities were issued or are issuable, were at no time held by any Affiliate of the Company), as reasonably determined by the
Company, upon the advice of counsel to the Company.

 

    

     

    

 

 

“Registration
Statement” means any registration statement required to be filed hereunder pursuant to Section 2(a) and any additional
registration statements contemplated by Section 2(c) or Section 3(c), including (in each case) the Prospectus, amendments and supplements
to any such registration statement or Prospectus, including pre- and post-effective amendments, all exhibits thereto, and all material
incorporated by reference or deemed to be incorporated by reference in any such registration statement.

 

“Rule
144” means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted
from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose
and effect as such Rule.

 

“Rule
405” means Rule 405 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted
from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose
and effect as such Rule.

 

“Rule
415” means Rule 415 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted
from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose
and effect as such Rule.

 

“Rule
424” means Rule 424 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted
from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose
and effect as such Rule.

 

 

“SEC
Guidance” means (i) any publicly-available written or oral guidance of the Commission staff, or any comments, requirements
or requests of the Commission staff and (ii) the Securities Act.

 

“Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

 

“Selling
Stockholder Questionnaire” shall have the meaning set forth in Section 3(a).

 

    

     

    

 

 

“Settlement Agreement” means the Settlement Agreement dated August __, 2015, among the Company, Neil Rogers, Labere
Group Assets Inc., Pareall International Limited, Bonneval Ventures Inc. and Byrne United S.A. 

 

“Subscription Agreement”
means the Subscription Agreement dated August __, 2015 between the Company and Neil Rogers.

 

“Trading
Day” means a day on which the principal Trading Market is open for trading.

 

“Trading
Market” means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on
the date in question: the NYSE MKT, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, the New
York Stock Exchange, the OTC Bulletin Board, the OTCQX or the OTCQB (or any successors to any of the foregoing).

 

 

 

2. Registration.

 

(a)               
On or prior to each Effectiveness Date, the Company shall prepare and file with the Commission a Registration Statement
covering the resale of all of the Registrable Securities that are not then registered on an effective Registration Statement for
an offering to be made on a continuous basis pursuant to Rule 415. Each Registration Statement filed hereunder shall be on Form
S-3 (except if the Company is not then eligible to register for resale the Registrable Securities on Form S-3, in which case such
registration shall be on another appropriate form in accordance herewith, subject to the provisions of Section 2(e)) and shall
contain (unless otherwise directed by the Holders of at least 85% of the then outstanding Registrable Securities (for purposes
of clarification, this includes any Registrable Securities issuable upon exercise or conversion of any warrant or other security
of the Company)) substantially the “Plan of Distribution” attached hereto as Annex A. Subject to the
terms of this Agreement, the Company shall use its best efforts to cause a Registration Statement filed under this Agreement (including,
without limitation, under Section 3(c)) to be declared effective under the Securities Act as promptly as possible after the filing
thereof, but in any event no later than the applicable Effectiveness Date, and shall use its best efforts to keep such Registration
Statement continuously effective under the Securities Act until all Registrable Securities covered by such Registration Statement
(i) have been sold, thereunder or pursuant to Rule 144 or any other applicable exemption, or (ii) may be sold pursuant to Rule
144 (assuming that such securities and any securities issuable upon exercise, conversion or exchange of which, or as a dividend
upon which, such securities were issued or are issuable, were at no time held by any Affiliate of the Company) (the “Effectiveness
Period”). The Company shall telephonically request effectiveness of a Registration Statement as of 5:00 p.m. Eastern
Time on a Trading Day. The Company shall immediately notify the Holders via facsimile or by e-mail of the effectiveness of a Registration
Statement on the same Trading Day that the Company telephonically confirms effectiveness with the Commission or the Commission
posts the notice of effectiveness of such Registration Statement on EDGAR. The Company shall, by 9:30 a.m. Eastern Time on the
Trading Day after the effective date of such Registration Statement, file a final Prospectus with the Commission as required by
Rule 424.

 

(b)              
Notwithstanding the registration obligations set forth in Section 2(a), if the Commission informs the Company that all of
the Registrable Securities cannot, as a result of the application of Rule 415, be registered for resale as a secondary offering
on a single registration statement, the Company agrees to promptly inform each of the Holders thereof and use its best efforts
to file amendments to the Initial Registration Statement as required by the Commission, covering the maximum number of Registrable
Securities permitted to be registered by the Commission, on Form S-3 or such other form available to register for resale the Registrable
Securities as a secondary offering, subject to the provisions of Section 2(e); with respect to filing on Form S-3 or other appropriate
form, and subject to the provisions of Section 2(d) with respect to the payment of liquidated damages; provided, however,
that prior to filing such amendment, the Company shall be obligated to use diligent efforts to advocate with the Commission for
the registration of all of the Registrable Securities in accordance with the SEC Guidance, including without limitation, Compliance
and Disclosure Interpretation 612.09.

 

    

     

    

 

 

(c)               
Notwithstanding any other provision of this Agreement and subject to the payment of liquidated damages pursuant to Section
2(d), if the Commission or any SEC Guidance sets forth a limitation on the number of Registrable Securities permitted to be registered
on a particular Registration Statement as a secondary offering (and notwithstanding that the Company used diligent efforts to advocate
with the Commission for the registration of all or a greater portion of Registrable Securities), unless otherwise directed in writing
by a Holder as to its Registrable Securities, the number of Registrable Securities to be registered on such Registration Statement
will be reduced as follows:

 

		a.	First, the Company shall reduce or eliminate any securities to be included by any Person other
than a Holder; and

 

		b.	Second, the Company shall reduce the Registrable Securities (applied on a pro rata basis based
on the total number of Registrable Securities held by the Holders).

 

In the event of a cutback hereunder,
the Company shall give the Holder at least five (5) Trading Days prior written notice along with the calculations as to such Holder’s
allotment. In the event the Company amends the Initial Registration Statement in accordance with the foregoing, the Company will
use its best efforts to file with the Commission, as promptly as allowed by Commission or SEC Guidance provided to the Company
or to registrants of securities in general, one or more registration statements on Form S-3 or such other form available to register
for resale those Registrable Securities that were not registered for resale on the Initial Registration Statement, as amended.

 

If a Registration Statement is not
declared effective by the Commission by the Effectiveness Date, or (ii) after the effective date of a Registration Statement,
such Registration Statement ceases for any reason to remain continuously effective as to all Registrable Securities included in
such Registration Statement, or the Holders are otherwise not permitted to utilize the Prospectus therein to resell such Registrable
Securities, for more than ten (10) consecutive calendar days or more than an aggregate of twenty (20) calendar days (which need
not be consecutive calendar days) during any 12-month period (any such failure or breach being referred to as an “Event”,
and for purposes of clause (i), the date on which such Event occurs, and for purpose of clause (ii) the date on which such five
(5) Trading Day period is exceeded, as applicable, is exceeded being referred to as “Event Date”), then, on
each such Event Date and on each monthly anniversary of each such Event Date (if the applicable Event shall not have been cured
by such date) until the applicable Event is cured to the extent there are Registrable Securities, the Company shall pay to each
Holder who has Registrable Securities an aggregate penalty of $50,000 (to be divided pro rata as applicable) and an additional
$10,000 payment upon the expiration of each 30 day period (or portion thereof after the initial 30 day period following the Effectiveness
Date, provided that if the Registration Statement ceases to be effective due to the Company becoming in possession of material non-public
information, no penalty shall be due or payable.

 

    

     

    

 

 

(d)              
Subject to Section 2(a), if Form S-3 is not available for the registration of the resale of Registrable Securities hereunder,
the Company shall register the resale of the Registrable Securities on another appropriate form.

 

3. Registration Procedures.

 

In connection with the
Company’s registration obligations hereunder, the Company shall:

 

(a)               
Not less than five (5) Trading Days prior to the filing of each Registration Statement and not less than one (1) Trading
Day prior to the filing of any related Prospectus or any amendment or supplement thereto (including any document that would be
incorporated or deemed to be incorporated therein by reference), (i) furnish to each Holder copies of all such documents proposed
to be filed, which documents (other than those incorporated or deemed to be incorporated by reference) will be subject to the review
of such Holders, and (ii) cause its officers and directors, counsel and independent registered public accountants to respond to
such inquiries as shall be necessary, in the reasonable opinion of respective counsel to each Holder, to conduct a reasonable investigation
within the meaning of the Securities Act. Notwithstanding the above, the Company shall not be obligated to provide the Holders
advance copies of any universal shelf registration statement registering securities in addition to those required hereunder, or
any Prospectus prepared thereto. Each Holder agrees to furnish to the Company a completed questionnaire in the form attached to
this Agreement as Annex B (a “Selling Stockholder Questionnaire”) by the end of the third (3rd)
Trading Day following the date on which such Holder receives draft materials in accordance with this Section.

 

(b)              
(i) Prepare and file with the Commission such amendments, including post-effective amendments, to a Registration Statement
and the Prospectus used in connection therewith as may be necessary to keep a Registration Statement continuously effective as
to the applicable Registrable Securities for the Effectiveness Period and prepare and file with the Commission such additional
Registration Statements in order to register for resale under the Securities Act all of the Registrable Securities, (ii) cause
the related Prospectus to be amended or supplemented by any required Prospectus supplement (subject to the terms of this Agreement),
and, as so supplemented or amended, to be filed pursuant to Rule 424, (iii) respond as promptly as reasonably possible to any comments
received from the Commission with respect to a Registration Statement or any amendment thereto and provide as promptly as reasonably
possible to the Holders true and complete copies of all correspondence from and to the Commission relating to a Registration Statement
(provided that, the Company shall excise any information contained therein which would constitute material non-public information
regarding the Company or any of its subsidiaries), and (iv) comply in all material respects with the applicable provisions of the
Securities Act and the Exchange Act with respect to the disposition of all Registrable Securities covered by a Registration Statement
during the applicable period in accordance (subject to the terms of this Agreement) with the intended methods of disposition by
the Holders thereof set forth in such Registration Statement as so amended or in such Prospectus as so supplemented.

 

(c)               
If during the Effectiveness Period, the number of Registrable Securities at any time exceeds 100% of the number of shares
of Common Stock then registered in a Registration Statement, then the Company shall file as soon as reasonably practicable.

 

    

     

    

 

 

(d)              
Notify the Holders of Registrable Securities to be sold (which notice shall, pursuant to clauses (iii) through (vi) hereof,
be accompanied by an instruction to suspend the use of the Prospectus until the requisite changes have been made) as promptly as
reasonably possible (and, in the case of (i)(A) below, not less than one (1) Trading Day prior to such filing) and (if requested
by any such Person) confirm such notice in writing no later than one (1) Trading Day following the day (i)(A) when a Prospectus
or any Prospectus supplement or post-effective amendment to a Registration Statement is proposed to be filed, (B) when the Commission
notifies the Company whether there will be a “review” of such Registration Statement and whenever the Commission comments
in writing on such Registration Statement, and (C) with respect to a Registration Statement or any post-effective amendment, when
the same has become effective, (ii) of any request by the Commission or any other federal or state governmental authority for amendments
or supplements to a Registration Statement or Prospectus or for additional information, (iii) of the issuance by the Commission
or any other federal or state governmental authority of any stop order suspending the effectiveness of a Registration Statement
covering any or all of the Registrable Securities or the initiation of any Proceedings for that purpose, (iv) of the receipt by
the Company of any notification with respect to the suspension of the qualification or exemption from qualification of any of the
Registrable Securities for sale in any jurisdiction, or the initiation or threatening of any Proceeding for such purpose, (v) of
the occurrence of any event or passage of time that makes the financial statements included in a Registration Statement ineligible
for inclusion therein or any statement made in a Registration Statement or Prospectus or any document incorporated or deemed to
be incorporated therein by reference untrue in any material respect or that requires any revisions to a Registration Statement,
Prospectus or other documents so that, in the case of a Registration Statement or the Prospectus, as the case may be, it will not
contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to
make the statements therein, in light of the circumstances under which they were made, not misleading, and (vi) of the occurrence
or existence of any pending corporate development with respect to the Company that the Company believes may be material and that,
in the determination of the Company, makes it not in the best interest of the Company to allow continued availability of a Registration
Statement or Prospectus, provided, however, in no event shall any such notice contain any information which would
constitute material, non-public information regarding the Company or any of its subsidiaries.

 

(e)               
Use its best efforts to avoid the issuance of, or, if issued, obtain the withdrawal of (i) any order stopping or suspending
the effectiveness of a Registration Statement, or (ii) any suspension of the qualification (or exemption from qualification) of
any of the Registrable Securities for sale in any jurisdiction, at the earliest practicable moment.

 

(f)               
Furnish to each Holder, without charge, at least one conformed copy of each such Registration Statement and each amendment
thereto, including financial statements and schedules, all documents incorporated or deemed to be incorporated therein by reference
to the extent requested by such Person, and all exhibits to the extent requested by such Person (including those previously furnished
or incorporated by reference) promptly after the filing of such documents with the Commission; provided, that any such item which
is available on the EDGAR system (or successor thereto) need not be furnished in physical form.

 

    

     

    

 

 

(g)              
Subject to the terms of this Agreement, the Company hereby consents to the use of such Prospectus and each amendment or
supplement thereto by each of the selling Holders in connection with the offering and sale of the Registrable Securities covered
by such Prospectus and any amendment or supplement thereto, except after the giving of any notice pursuant to Section 3(d).

 

(h)              
 The Company shall cooperate with any broker-dealer through which a Holder proposes to resell its Registrable Securities
in effecting a filing with the FINRA Corporate Financing Department pursuant to FINRA Rule 5110, as requested by any such Holder,
and the Company shall pay the filing fee required by such filing within two (2) Trading Days of request therefor.

(i)                
Prior to any resale of Registrable Securities by a Holder, use its best efforts to register or qualify or cooperate with
the selling Holders in connection with the registration or qualification (or exemption from the registration or qualification)
of such Registrable Securities for the resale by the Holder under the securities or Blue Sky laws of such jurisdictions within
the United States as any Holder reasonably requests in writing, to keep each registration or qualification (or exemption therefrom)
effective during the Effectiveness Period and to do any and all other acts or things reasonably necessary to enable the disposition
in such jurisdictions of the Registrable Securities covered by each Registration Statement; provided, that, the Company shall not
be required to qualify generally to do business in any jurisdiction where it is not then so qualified, subject the Company to any
material tax in any such jurisdiction where it is not then so subject or file a general consent to service of process in any such
jurisdiction.

 

(j)                
If requested by a Holder, cooperate with such Holder to facilitate the timely preparation and delivery of certificates representing
Registrable Securities to be delivered to a transferee pursuant to a Registration Statement, which certificates shall be free of
all restrictive legends, and to enable such Registrable Securities to be in such denominations and registered in such names as
any such Holder may request.

 

(k)              
Upon the occurrence of any event contemplated by Section 3(d), as promptly as reasonably possible under the circumstances
taking into account the Company’s good faith assessment of any adverse consequences to the Company and its stockholders
of the premature disclosure of such event, prepare a supplement or amendment, including a post-effective amendment, to a Registration
Statement or a supplement to the related Prospectus or any document incorporated or deemed to be incorporated therein by reference,
and file any other required document so that, as thereafter delivered, neither a Registration Statement nor such Prospectus will
contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to
make the statements therein, in light of the circumstances under which they were made, not misleading. If
the Company notifies the Holders in accordance with clauses (iii) through (vi) of Section 3(d) above to suspend the use of any
Prospectus until the requisite changes to such Prospectus have been made, then the Holders shall suspend use of such Prospectus.
The Company shall use its best efforts to ensure that the use of the Prospectus may be resumed as promptly as is practicable.
The Company shall be entitled to exercise its right under this Section 3(k) to suspend the availability of a Registration Statement
and Prospectus, without the obligation to pay any damages or penalty otherwise required pursuant to Section 2(d), for a period
not to exceed 60 calendar days (which need not be consecutive days) in any 12-month period.

 

(l)                
Comply with all applicable rules and regulations of the Commission.

 

(m)            
The Company may require each selling Holder to furnish to the Company a certified statement as to the number of shares of
Common Stock beneficially owned by such Holder and the natural persons thereof that have voting and dispositive control over the
shares. During any periods that the Company is unable to meet its obligations hereunder with respect to the registration of the
Registrable Securities solely because any Holder fails to furnish such information within three Trading Days of the Company’s
request, any liquidated damages that are accruing at such time as to such Holder only shall be tolled and any Event that may otherwise
occur solely because of such delay shall be suspended as to such Holder only, until such information is delivered to the Company.

 

4. Registration
Expenses. All fees and expenses incident to the performance of or compliance with, this Agreement by the Company shall be borne
by the Company whether or not any Registrable Securities are sold pursuant to a Registration Statement. The fees and expenses referred
to in the foregoing sentence shall include, without limitation, (i) all registration and filing fees (including, without limitation,
fees and expenses of the Company’s counsel and independent registered public accountants) (A) with respect to filings made
with the Commission, (B) with respect to filings required to be made with any Trading Market on which the Common Stock is then
listed or quoted for trading, and (C) with respect to any filing that may be required to be made by any broker through which a
Holder intends to make sales of Registrable Securities with FINRA pursuant to FINRA Rule 5110, so long as the broker is receiving
no more than a customary brokerage commission in connection with such sale, (ii) printing expenses (including, without limitation,
expenses of printing certificates for Registrable Securities), (iii) messenger, telephone and delivery expenses, (iv) fees and
disbursements of counsel for the Company, (v) Securities Act liability insurance, if the Company so desires such insurance, and
(vi) fees and expenses of all other Persons retained by the Company in connection with the consummation of the transactions contemplated
by this Agreement. In addition, the Company shall be responsible for all of its internal expenses incurred in connection with the
consummation of the transactions contemplated by this Agreement (including, without limitation, all salaries and expenses of its
officers and employees performing legal or accounting duties), the expense of any annual audit and the fees and expenses incurred
in connection with the listing or admission of the Registrable Securities on the Trading Market as required hereunder. In no event
shall the Company be responsible for any broker or similar commissions of any Holder or any other costs of the Holder.

 

    

     

    

 

 

5. Indemnification.

 

(a)               
Indemnification by the Company. The Company shall, notwithstanding any termination of this Agreement, indemnify and
hold harmless each Holder, the officers, directors, members, partners, agents, brokers (including brokers who offer and sell Registrable
Securities as principal as a result of a pledge or any failure to perform under a margin call of Common Stock), investment advisors
and 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 each of them, each Person who controls any such Holder (within the meaning of Section 15 of
the Securities Act or Section 20 of the Exchange Act) and the officers, directors, members, stockholders, partners, agents and
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 each such controlling Person, to the fullest extent permitted by applicable law, from and against
any and all losses, claims, damages, liabilities, costs (including, without limitation, reasonable attorneys’ fees) and expenses
(collectively, “Losses”), as incurred, arising out of or relating to (1) any untrue or alleged untrue statement
of a material fact contained in a Registration Statement, any Prospectus or any form of prospectus or in any amendment or supplement
thereto or in any preliminary prospectus, or arising out of or relating to any omission or alleged omission of a material fact
required to be stated therein or necessary to make the statements therein (in the case of any Prospectus or supplement thereto,
in light of the circumstances under which they were made) not misleading or (2) any violation or alleged violation by the Company
of the Securities Act, the Exchange Act or any state securities law, or any rule or regulation thereunder, in connection with the
performance of its obligations under this Agreement, except to the extent, but only to the extent, that (i) such untrue statements
or omissions are based solely upon information regarding such Holder furnished in writing to the Company by such Holder expressly
for use therein, or to the extent that such information relates to such Holder or such Holder’s proposed method of distribution
of Registrable Securities and was reviewed and expressly approved in writing by such Holder expressly for use in a Registration
Statement, such Prospectus or in any amendment or supplement thereto (it being understood that the Holder has approved Annex A
hereto for this purpose) or (ii) in the case of an occurrence of an event of the type specified in Section 3(d)(iii)-(vi), the
use by such Holder of an outdated, defective or otherwise unavailable Prospectus after the Company has notified such Holder in
writing that the Prospectus is outdated, defective or otherwise unavailable for use by such Holder and prior to the receipt by
such Holder of the Advice contemplated in Section 6(d), but only if and to the extent that following the receipt of the Advice
the misstatement or omission giving rise to such Loss would have been corrected. The Company shall notify the Holders promptly
of the institution, threat or assertion of any Proceeding arising from or in connection with the transactions contemplated by this
Agreement of which the Company is aware. Such indemnity shall remain in full force and effect regardless of any investigation made
by or on behalf of such indemnified person and shall survive the transfer of any Registrable Securities by any of the Holders in
accordance with Section 6(h).

 

(b)              
Indemnification by Holders. Each Holder shall, severally and not jointly, indemnify and hold harmless the Company,
its directors, officers, agents and employees, each Person who controls the Company (within the meaning of Section 15 of the Securities
Act and Section 20 of the Exchange Act), and the directors, officers, agents or employees of such controlling Persons, to the fullest
extent permitted by applicable law, from and against all Losses, as incurred, to the extent arising out of or based solely upon:
(x) such Holder’s failure to comply with any applicable prospectus delivery requirements of the Securities Act through no
fault of the Company or (y) any untrue or alleged untrue statement of a material fact contained in any Registration Statement,
any Prospectus, or in any amendment or supplement thereto or in any preliminary prospectus, or arising out of or relating to any
omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein (in the
case of any Prospectus or supplement thereto, in light of the circumstances under which they were made) not misleading (i) to the
extent, but only to the extent, that such untrue statement or omission is contained in any information so furnished in writing
by such Holder to the Company expressly for inclusion in such Registration Statement or such Prospectus or (ii) to the extent,
but only to the extent, that such information relates to such Holder’s proposed method of distribution of Registrable Securities
and was reviewed and expressly approved in writing by such Holder expressly for use in a Registration Statement (it being understood
that the Holder has approved Annex A hereto for this purpose), such Prospectus or in any amendment or supplement thereto or (iii)
in the case of an occurrence of an event of the type specified in Section 3(d)(iii)-(vi), to the extent, but only to the extent,
related to the use by such Holder of an outdated, defective or otherwise unavailable Prospectus after the Company has notified
such Holder in writing that the Prospectus is outdated, defective or otherwise unavailable for use by such Holder and prior to
the receipt by such Holder of the Advice contemplated in Section 6(d), but only if and to the extent that following the receipt
of the Advice the misstatement or omission giving rise to such Loss would have been corrected. In no event shall the liability
of any selling Holder under this Section 5(b) be greater in amount than the dollar amount of the net proceeds received by such
Holder upon the sale of the Registrable Securities giving rise to such indemnification obligation.

 

    

     

    

 

 

(c)               
Conduct of Indemnification Proceedings. If any Proceeding shall be brought or asserted against any Person entitled
to indemnity hereunder (an “Indemnified Party”), such Indemnified Party shall promptly notify the Person from
whom indemnity is sought (the “Indemnifying Party”) in writing, and the Indemnifying Party shall have the right
to assume the defense thereof, including the employment of counsel reasonably satisfactory to the Indemnified Party and the payment
of all fees and expenses incurred in connection with defense thereof; provided, that, the failure of any Indemnified Party to give
such notice shall not relieve the Indemnifying Party of its obligations or liabilities pursuant to this Agreement, except (and
only) to the extent that it shall be finally determined by a court of competent jurisdiction (which determination is not subject
to appeal or further review) that such failure shall have materially and adversely prejudiced the Indemnifying Party.

 

An Indemnified
Party shall have the right to employ separate counsel in any such Proceeding and to participate in the defense thereof, but the
fees and expenses of such counsel shall be at the expense of such Indemnified Party or Indemnified Parties unless: (1) the Indemnifying
Party has agreed in writing to pay such fees and expenses, (2) the Indemnifying Party shall have failed promptly to assume the
defense of such Proceeding and to employ counsel reasonably satisfactory to such Indemnified Party in any such Proceeding, or (3)
the named parties to any such Proceeding (including any impleaded parties) include both such Indemnified Party and the Indemnifying
Party, and counsel to the Indemnified Party shall reasonably believe that a material conflict of interest is likely to exist if
the same counsel were to represent such Indemnified Party and the Indemnifying Party (in which case, if such Indemnified Party
notifies the Indemnifying Party in writing that it elects to employ separate counsel at the expense of the Indemnifying Party,
the Indemnifying Party shall not have the right to assume the defense thereof and the reasonable fees and expenses of no more than
one separate counsel shall be at the expense of the Indemnifying Party). The Indemnifying Party shall not be liable for any settlement
of any such Proceeding effected without its written consent, which consent shall not be unreasonably withheld or delayed. No Indemnifying
Party shall, without the prior written consent of the Indemnified Party, effect any settlement of any pending Proceeding in respect
of which any Indemnified Party is a party, unless such settlement includes an unconditional release of such Indemnified Party from
all liability on claims that are the subject matter of such Proceeding.

 

Subject to the
terms of this Agreement, all reasonable fees and expenses of the Indemnified Party (including reasonable fees and expenses to the
extent incurred in connection with investigating or preparing to defend such Proceeding in a manner not inconsistent with this
Section) shall be paid to the Indemnified Party, as incurred, within ten Trading Days of written notice thereof to the Indemnifying
Party; provided, that, the Indemnified Party shall promptly reimburse the Indemnifying Party for that portion of such fees and
expenses applicable to such actions for which such Indemnified Party is finally determined by a court of competent jurisdiction
(which determination is not subject to appeal or further review) not to be entitled to indemnification hereunder.

 

(d)              
Contribution. If the indemnification under Section 5(a) or 5(b) is unavailable to an Indemnified Party or insufficient
to hold an Indemnified Party harmless for any Losses, then each Indemnifying Party shall contribute to the amount paid or payable
by such Indemnified Party, in such proportion as is appropriate to reflect the relative fault of the Indemnifying Party and Indemnified
Party in connection with the actions, statements or omissions that resulted in such Losses as well as any other relevant equitable
considerations. The relative fault of such Indemnifying Party and Indemnified Party shall be determined by reference to, among
other things, whether any action in question, including any untrue or alleged untrue statement of a material fact or omission or
alleged omission of a material fact, has been taken or made by, or relates to information supplied by, such Indemnifying Party
or Indemnified Party, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent
such action, statement or omission. The amount paid or payable by a party as a result of any Losses shall be deemed to include,
subject to the limitations set forth in this Agreement, any reasonable attorneys’ or other fees or expenses incurred by such
party in connection with any Proceeding to the extent such party would have been indemnified for such fees or expenses if the indemnification
provided for in this Section was available to such party in accordance with its terms.

 

    

     

    

 

 

The parties hereto
agree that it would not be just and equitable if contribution pursuant to this Section 5(d) were determined by pro rata allocation
or by any other method of allocation that does not take into account the equitable considerations referred to in the immediately
preceding paragraph. Notwithstanding the provisions of this Section 5(d), no Holder shall be required to contribute pursuant to
this Section 5(d), in the aggregate, any amount in excess of the amount by which the net proceeds actually received by such Holder
from the sale of the Registrable Securities subject to the Proceeding exceeds the amount of any damages that such Holder has otherwise
been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission.

 

The indemnity
and contribution agreements contained in this Section are in addition to any liability that the Indemnifying Parties may have to
the Indemnified Parties.

 

6. Miscellaneous.

 

(a)               
Remedies. In the event of a breach by the Company or by a Holder of any of their respective obligations under this
Agreement, each Holder or the Company, as the case may be, in addition to being entitled to exercise all rights granted by law
and under this Agreement, including recovery of damages, shall be entitled to specific performance of its rights under this Agreement.
Each of the Company and each Holder agrees that monetary damages would not provide adequate compensation for any losses incurred
by reason of a breach by it of any of the provisions of this Agreement and hereby further agrees that, in the event of any action
for specific performance in respect of such breach, it shall not assert or shall waive the defense that a remedy at law would be
adequate.

 

(b)              
No Piggyback on Registrations; Prohibition on Filing Other Registration Statements. Neither the Company nor any of
its security holders (other than the Holders in such capacity pursuant hereto) may include securities of the Company in any Registration
Statements other than the Registrable Securities. The Company shall not file any other registration statements until all Registrable
Securities are registered pursuant to a Registration Statement that is declared effective by the Commission or there are no Registrable
Securities, provided that this Section 6(b) shall not prohibit the Company from filing amendments to registration statements filed
prior to the date of this Agreement and provided further that each Holder shall be entitled to waive this or any clause in this
Agreement solely with respect to such Holder’s Registrable Securities.

 

(c)               
Compliance. Each Holder covenants and agrees that it will comply with the prospectus delivery requirements of the
Securities Act as applicable to it (unless an exemption therefrom is available) in connection with sales of Registrable Securities
pursuant to a Registration Statement.

 

(d)              
Discontinued Disposition. Each Holder agrees that, upon receipt of a notice from the Company of the occurrence of
any event of the kind described in Section 3(d)(iii) through (vi), such Holder will forthwith discontinue disposition of such Registrable
Securities under a Registration Statement until it is advised in writing (the “Advice”) by the Company that
the use of the applicable Prospectus (as it may have been supplemented or amended) may be resumed. The Company shall use its best
efforts to ensure that the use of the Prospectus may be resumed as promptly as is practicable. The Company agrees and acknowledges
that any periods during which the Holder is required to discontinue the disposition of the Registrable Securities hereunder shall
be subject to the provisions of Section 2(d).

 

(e)               
Piggy-Back Registrations. If, at any time during the Effectiveness Period, there is not an effective Registration Statement
covering all of the Registrable Securities and the Company shall determine to prepare and file with the Commission a registration
statement relating to an offering for its own account or the account of others under the Securities Act of any of its equity securities,
other than on Form S-4 or Form S-8 (each as promulgated under the Securities Act) or their then equivalents relating to equity
securities to be issued solely in connection with any acquisition of any entity or business or equity securities issuable in connection
with the Company’s equity incentive or other employee benefit plans, then the Company shall deliver to each Holder a written
notice of such determination and, if within fifteen days after the date of the delivery of such notice, any such Holder shall
so request in writing, the Company shall include in such registration statement all or any part of such Registrable Securities
such Holder requests to be registered; provided, however, that the Company shall not be required to register any Registrable Securities
pursuant to this Section 6(e) that are eligible for resale pursuant to Rule 144 pursuant to the Securities Act or that are the
subject of a then effective Registration Statement. This section shall be subject to approval by the applicable investment bank
acting as agent for the company with respect to any registration statement and shall not be applicable with respect to a registration
statement on Form S-4.

 

    

     

    

 

 

(f)               
Amendments and Waivers. The provisions of this Agreement, including the provisions of this sentence, may not be
amended, modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given, unless the
same shall be in writing and signed by the Company and the Holders of 51% or more of the then outstanding Registrable Securities
(for purposes of clarification, this includes any Registrable Securities issuable upon exercise or conversion of any warrant or
other security of the Company). If a Registration Statement does not register all of the Registrable Securities pursuant to a
waiver or amendment done in compliance with the previous sentence, then the number of Registrable Securities to be registered
for each Holder shall be reduced pro rata among all Holders and each Holder shall have the right to designate which of its Registrable
Securities shall be omitted from such Registration Statement. Notwithstanding the foregoing, a waiver or consent to depart from
the provisions hereof with respect to a matter that relates exclusively to the rights of a Holder or some Holders and that does
not directly or indirectly affect the rights of other Holders may be given only by such Holder or Holders of all of the Registrable
Securities to which such waiver or consent relates; provided, however, that the provisions of this sentence may
not be amended, modified, or supplemented except in accordance with the provisions of the first sentence of this Section 6(f).
No consideration shall be offered or paid to any Person to amend or consent to a waiver or modification of any provision of this
Agreement unless the same consideration also is offered to all of the parties to this Agreement.

 

(g)              
 Notices. All notices and other communications hereunder shall
be in writing and shall be deemed to have been duly given if mailed or transmitted by any standard form of telecommunication.
Notices to each Holder shall be directed to the address of the Holder as set forth on each Holder’s respective signature
page of this Agreement, and notices to the Company shall be directed to it at Greenwood Hall, Inc., 1936 East Deere Avenue, Suite
120, Santa Ana, California 92705, Attention, Chief Executive Officer.

 

(h)              
Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and
permitted assigns of each of the parties and shall inure to the benefit of each Holder. The Company may not assign (except by
merger) its rights or obligations hereunder without the prior written consent of all of the Holders of the then outstanding Registrable
Securities. At any time on or before the Initial Registration Statement is declared effective, any Holder may assign any or all
of such Holder’s rights under this Agreement to any Person to whom such Holder assigns or transfers any Registrable Securities,
provided that such transferee agrees in writing to be bound, with respect to the transferred Registrable Securities, by the provisions
of this Agreement that apply to the “Holders.”

 

(i)                
 Execution and Counterparts. This Agreement may be executed in
two or more counterparts, all of which when taken together shall be considered one and the same agreement and shall become effective
when counterparts have been signed by each party and delivered to the other party, it being understood that both parties need
not sign the same counterpart. In the event that any signature is delivered by facsimile transmission or by e-mail delivery of
a “.pdf” format data file, such signature shall create a valid and binding obligation of the party executing (or on
whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf” signature page
were an original thereof.

 

(j)                
 Governing Law. This Agreement is governed by the laws of
the State of Nevada and the federal laws of the United States applicable therein.

 

(k)              
 Cumulative Remedies. The remedies provided herein are cumulative
and not exclusive of any other remedies provided by law.

 

(l)                
 Severability. If any term, provision, covenant or restriction
of this Agreement is held by a court of competent jurisdiction to be invalid, illegal, void or unenforceable, the remainder of
the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall in no way be
affected, impaired or invalidated, and the parties hereto shall use their commercially reasonable efforts to find and employ an
alternative means to achieve the same or substantially the same result as that contemplated by such term, provision, covenant
or restriction. It is hereby stipulated and declared to be the intention of the parties that they would have executed the remaining
terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void
or unenforceable.

 

    

     

    

 

 

(m)            
 Headings. The headings in this Agreement are for convenience only,
do not constitute a part of the Agreement and shall not be deemed to limit or affect any of the provisions hereof.

 

(n)             
Independent Nature of Holders’ Obligations and Rights. The obligations of each Holder hereunder are several
and not joint with the obligations of any other Holder hereunder, and no Holder shall be responsible in any way for the performance
of the obligations of any other Holder hereunder. Nothing contained herein or in any other agreement or document delivered at
any closing, and no action taken by any Holder pursuant hereto or thereto, shall be deemed to constitute the Holders as a partnership,
an association, a joint venture or any other kind of group or entity, or create a presumption that the Holders are in any way
acting in concert or as a group or entity with respect to such obligations or the transactions contemplated by this Agreement
or any other matters, and the Company acknowledges that the Holders are not acting in concert or as a group, and the Company shall
not assert any such claim, with respect to such obligations or transactions. Each Holder shall be entitled to protect and enforce
its rights, including without limitation the rights arising out of this Agreement, and it shall not be necessary for any other
Holder to be joined as an additional party in any proceeding for such purpose. The use of a single agreement with respect to the
obligations of the Company contained was solely in the control of the Company, not the action or decision of any Holder, and was
done solely for the convenience of the Company and not because it was required or requested to do so by any Holder. It is expressly
understood and agreed that each provision contained in this Agreement is between the Company and a Holder, solely, and not between
the Company and the Holders collectively and not between and among Holders.

 

********************

 

(Signature
Pages Follow)

 

    

     

    

 

 

IN WITNESS WHEREOF, the
parties have executed this Registration Rights Agreement as of the date first written above.

 

	
        greenwood hall,
        inc.

         

         

	
        By:__________________________________________

        Name:

        Title:

         

 

 

 

 

 

 

 

 

 

[SIGNATURE PAGE OF HOLDERS FOLLOWS]

 

 

 

    

     

    

[SIGNATURE
PAGE OF HOLDERS]

 

 

Name of Holder: Neil William Rogers

 

Signature of Authorized Signatory of Holder: __________________________

 

Name of Authorized Signatory: n/a

 

Title of Authorized Signatory: n/a

			

Address of Holder:

43 Torrington Road

Maroubra 2031

NSW, Australia

Fax: ______________________

Email: coach.rogers@hotmail.com

 

 

Number of Registrable Securities: 1,125,000

 

 

 

[SIGNATURE PAGES CONTINUE]

 

    

     

    

 

 

[SIGNATURE
PAGE OF HOLDERS]

 

 

Name of Holder: Byrne United S.A.

 

Signature of Authorized Signatory of Holder: __________________________

 

Name of Authorized Signatory: _________________________

 

Title of Authorized Signatory: __________________________

			

Address of Holder:

Pasea Estate

Road Town, Tortola

British Virgin Islands

Fax: ______________________

Email: c/o urs.meier@urseli.ch

 

 

Number of Registrable Securities: 625,000 

 

 

    

     

    

 

 

Annex A

 

Plan of Distribution

 

Each Selling
Stockholder (the “Selling Stockholders”) of the securities and any of their pledgees, assignees and successors-in-interest
may, from time to time, sell any or all of their securities covered hereby on the principal Trading Market or any other stock exchange,
market or trading facility on which the securities are traded or in private transactions. These sales may be at fixed or negotiated
prices. A Selling Stockholder may use any one or more of the following methods when selling securities:

		·	ordinary brokerage transactions and transactions in which the broker-dealer solicits purchasers;

		·	block trades in which the broker-dealer will attempt to sell the securities as agent but may position and resell a portion
of the block as principal to facilitate the transaction;

		·	purchases by a broker-dealer as principal and resale by the broker-dealer for its account;

		·	an exchange distribution in accordance with the rules of the applicable exchange;

		·	privately negotiated transactions;

		·	settlement of short sales;

		·	in transactions through broker-dealers that agree with the Selling Stockholders to sell a specified number of such securities
at a stipulated price per security;

		·	through the writing or settlement of options or other hedging transactions, whether through an options exchange or otherwise;

		·	a combination of any such methods of sale; or

		·	any other method permitted pursuant to applicable law.

The Selling
Stockholders may also sell securities under Rule 144 under the Securities Act of 1933, as amended (the “Securities Act”),
if available, rather than under this prospectus.

Broker-dealers
engaged by the Selling Stockholders may arrange for other brokers-dealers to participate in sales. Broker-dealers may receive commissions
or discounts from the Selling Stockholders (or, if any broker-dealer acts as agent for the purchaser of securities, from the purchaser)
in amounts to be negotiated, but, except as set forth in a supplement to this Prospectus, in the case of an agency transaction
not in excess of a customary brokerage commission in compliance with FINRA Rule 2440; and in the case of a principal transaction
a markup or markdown in compliance with FINRA IM-2440.

 

    

     

    

 

In connection
with the sale of the securities or interests therein, the Selling Stockholders may enter into hedging transactions with broker-dealers
or other financial institutions, which may in turn engage in short sales of the securities in the course of hedging the positions
they assume. The Selling Stockholders may also sell securities short and deliver these securities to close out their short positions,
or loan or pledge the securities to broker-dealers that in turn may sell these securities. The Selling Stockholders may also enter
into option or other transactions with broker-dealers or other financial institutions or create one or more derivative securities
which require the delivery to such broker-dealer or other financial institution of securities offered by this prospectus, which
securities such broker-dealer or other financial institution may resell pursuant to this prospectus (as supplemented or amended
to reflect such transaction).

The Selling
Stockholders and any broker-dealers or agents that are involved in selling the securities may be deemed to be “underwriters”
within the meaning of the Securities Act in connection with such sales. In such event, any commissions received by such broker-dealers
or agents and any profit on the resale of the securities purchased by them may be deemed to be underwriting commissions or discounts
under the Securities Act.

The Company
is required to pay certain fees and expenses incurred by the Company incident to the registration of the securities. The Company
has agreed to indemnify the Selling Stockholders against certain losses, claims, damages and liabilities, including liabilities
under the Securities Act.

Because Selling
Stockholders may be deemed to be “underwriters” within the meaning of the Securities Act, they will be subject to the
prospectus delivery requirements of the Securities Act including Rule 172 thereunder. In addition, any securities covered by this
prospectus which qualify for sale pursuant to Rule 144 under the Securities Act may be sold under Rule 144 rather than under this
prospectus.

We agreed
to keep this prospectus effective until the earlier of (i) the date on which the securities may be resold by the Selling Stockholders
without registration and without regard to any volume or manner-of-sale limitations by reason of Rule 144, without the requirement
for the Company to be in compliance with the current public information under Rule 144 under the Securities Act or any other rule
of similar effect or (ii) all of the securities have been sold pursuant to this prospectus or Rule 144 under the Securities Act
or any other rule of similar effect. The resale securities will be sold only through registered or licensed brokers or dealers
if required under applicable state securities laws. In addition, in certain states, the resale securities covered hereby may not
be sold unless they have been registered or qualified for sale in the applicable state or an exemption from the registration or
qualification requirement is available and is complied with.

Under applicable
rules and regulations under the Exchange Act, any person engaged in the distribution of the resale securities may not simultaneously
engage in market making activities with respect to the common stock for the applicable restricted period, as defined in Regulation
M, prior to the commencement of the distribution. In addition, the Selling Stockholders will be subject to applicable provisions
of the Exchange Act and the rules and regulations thereunder, including Regulation M, which may limit the timing of purchases and
sales of securities of the common stock by the Selling Stockholders or any other person. We will make copies of this prospectus
available to the Selling Stockholders and have informed them of the need to deliver a copy of this prospectus to each purchaser
at or prior to the time of the sale (including by compliance with Rule 172 under the Securities Act).

 

    

     

    

 

Annex B

greenwood
hall, inc.

Selling Stockholder Notice
and Questionnaire

The undersigned
beneficial owner of common stock (the “Registrable Securities”) of Greenwood Hall, Inc., a Nevada corporation
(the “Company”), understands that the Company has filed or intends to file with the Securities and Exchange
Commission (the “Commission”) a registration statement (the “Registration Statement”)
for the registration and resale under Rule 415 of the Securities Act of 1933, as amended (the “Securities Act”),
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 stockholder 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 stockholder in the Registration Statement and the related prospectus.

NOTICE

The undersigned
beneficial owner (the “Selling Stockholder”) 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 Stockholder

	 
	 

 

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

	 
	 

 

(c)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 Stockholder:

	 
	 
	 
	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 Stockholder.

Except as set forth
below in this Item 4, the undersigned is not the beneficial or registered owner of any securities of the Company other than the
securities listed in the undersigned’s signature page of the Registration Rights Agreement.

(a)Type
and Amount of other securities beneficially owned by the Selling Stockholder:

	 
	 
	 

 

    

     

    

 

5. Relationships with the
Company:

Except as set forth
below, neither the undersigned nor any of its affiliates, 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:

	 
	 
	 

 

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 Notice and Questionnaire to be executed and delivered either
in person or by its duly authorized agent.

Date: Beneficial Owner: 

 

By:______________________________

Name:____________________________

Title:____________________________

 

PLEASE FAX A COPY (OR EMAIL A .PDF COPY)
OF THE COMPLETED AND EXECUTED NOTICE AND QUESTIONNAIRE, AND RETURN THE ORIGINAL BY OVERNIGHT MAIL, TO Greenwood Hall, Inc.,
1936 East Deere Avenue, Suite 120, Santa Ana, California 92705, Attention, Chief Executive Officer.

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