Document:

EXECUTION VERSION

 

EXHIBIT B

W-[__]

 

THIS WARRANT AND THE WARRANT SHARES HAVE NOT
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, NOR REGISTERED OR QUALIFIED UNDER ANY STATE SECURITIES LAWS, AND
MAY NOT BE PLEDGED, HYPOTHECATED, SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS SO REGISTERED OR AN EXEMPTION THEREFROM IS
AVAILABLE.

 

WARRANT TO PURCHASE COMMON STOCK

OF VITACOST.COM, INC.

 

Date of Issuance: February 16, 2012

 

In consideration for the payment by ___________________________
to Vitacost.com, Inc., a Delaware corporation (the “Company”), of $[●] in cash, by certified check, or by wire
transfer (the “Purchase Price”), the Company agrees to the provisions set forth herein. The Company certifies that
___________________________ and its permitted assigns (the “Holder”), is entitled, subject to the terms set forth below,
to purchase from the Company, up to [●] fully-paid and nonassessable shares of Common Stock (the “Warrant Shares”)
at a purchase price per share equal to the Warrant Price (defined below). The number of shares of Common Stock purchasable upon
exercise of this Warrant and the Warrant Price shall be subject to adjustment from time to time as provided herein. The initial
Warrant Price (the “Warrant Price”) per share of Common Stock shall equal $7.04.

 

This Warrant is one in a series of warrants issued
on February 16, 2012 (the “Issuance Date”) with substantially similar terms and conditions that (x) as of the Issuance
Date and subject to the provisions of this Warrant and such other warrants (as applicable), allow for the purchase of up to an
aggregate of 1,680,601 shares of Common Stock and (y) as of the Issuance Date, are represented by warrant certificate numbers W-1,
W-2, W-3, W-4, W-5, W-6, and W-7. Such warrants and any warrants issued upon assignment or replacement thereof are referred to
herein as the “Warrants,” and the holders thereof and their permitted assigns are referred to herein as the “Holders.”

 

For the purpose of this Warrant, the term “Common
Stock” shall mean (i) the Common Stock, par value $0.00001 per share, of the Company as of the Issuance Date, or (ii) any
other class or classes of stock resulting from successive changes or reclassifications of such class of stock, and the term “Business
Day” shall mean any day other than a Saturday or Sunday or a day on which commercial banks in New York, New York are required
or authorized to be closed.

 

    	 

    	 

    

 

Section 1.          Term
of Warrant, Exercise of Warrant. (a) Subject to the terms of this Warrant, the Holder shall have the right, at its option,
which may be exercised in whole or in part, at any time, and from time to time, commencing at the time immediately following the
time the Purchase Price has been paid and until the earlier of (x) 5:00 p.m. Eastern Time on the four year anniversary of the Issuance
Date and (y) the closing of a Change of Control (as defined below) (the “Warrant Expiration Date”) to purchase from
the Company the Warrant Shares. “Change of Control” shall mean the sale, conveyance or disposal of all or substantially
all of the Company’s property or business or the Company’s merger with or into or consolidation with any other corporation
(other than a wholly-owned subsidiary of the Company) or any other transaction or series of related transactions in which the stockholders
of the Company immediately prior to the transaction or transactions own less than a majority of the voting power of the surviving
corporation following the transaction or transactions.

 

(b)          The
purchase rights evidenced by this Warrant shall be exercised by the Holder surrendering this Warrant, with the form of subscription
at the end hereof duly executed by the Holder, to the Company at its office in Boca Raton, Florida (or, in the event the Company’s
principal office is no longer in Boca Raton, Florida its then principal office in the United States (the “Principal Office”)),
accompanied by payment, of an amount (the “Exercise Payment”) equal to the Warrant Price multiplied by the number of
Warrant Shares being purchased pursuant to such exercise, payable as follows: (i) by payment to the Company in cash, by certified
check, or by wire transfer of the Exercise Payment, (ii) by surrender to the Company for cancellation of securities of the Company
having a Market Price (as hereinafter defined) on the date of exercise equal to the Exercise Payment; or (iii) by a combination
of the methods described in clauses (i) and (ii) above. In lieu of exercising the Warrant as set forth in the foregoing sentence,
the Holder may elect to perform a net exercise and receive a payment equal to the difference between (i) the Market Price on the
date of exercise multiplied by the number of Warrant Shares as to which the payment is then being elected and (ii) the aggregate
Warrant Price with respect to such Warrant Shares, payable by the Company to the Holder only in shares of Common Stock valued at
the Market Price on the date of exercise. For purposes hereof, the term “Market Price” shall mean, with respect to
any day, the average closing price of a share of Common Stock or other security for the 5 consecutive trading days preceding such
day on the principal national securities exchange on which the shares of Common Stock or securities are listed or admitted to trading
or, if not listed or admitted to trading on any national securities exchange, the average of the reported high and low prices during
such 5 trading day period on Nasdaq or, if the shares are not listed on Nasdaq, in the over-the-counter market or, if the shares
of Common Stock or securities are not publicly traded, the Market Price for such day shall be the fair market value thereof determined
in good faith by the Board of Directors of the Company.

 

(c)          Upon
any exercise of this Warrant, the Company shall issue and cause to be delivered with all reasonable dispatch, but in any event
within 5 Business Days, to or upon the written order of the Holder and, subject to Section 3, in such name or names as the Holder
may designate (provided that such names other than the Holder may include only affiliates of the Holder), a certificate or certificates
for the number of full Warrant Shares issuable upon such exercise together with such other property, including cash (if necessary
pursuant to Section 5.3 hereof), which may be deliverable upon such exercise. If fewer than all of the Warrant Shares represented
by this Warrant are purchased, a new Warrant of the same tenor as this Warrant, evidencing the Warrant Shares not purchased will
be issued and delivered by the Company at the Company’s expense, to the Holder together with the issue of the certificates
representing the Warrant Shares then being purchased. All Warrant certificates surrendered upon exercise of Warrants shall be
canceled by the Company. 

 

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(d)          The
Company’s obligations to issue and deliver Warrant Shares in accordance with the terms hereof are absolute and unconditional,
irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof,
the recovery of any judgment against any person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation
or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to the Company or any violation
or alleged violation of law by the Holder or any other person, and irrespective of any other circumstance which might otherwise
limit such obligation of the Company to the Holder in connection with the issuance of Warrant Shares. Nothing herein shall limit
a Holder’s right to pursue any other remedies available to it hereunder, at law or in equity including, without limitation,
a decree of specific performance and/or injunctive relief with respect to the Company’s failure to timely deliver certificates
representing shares of Common Stock upon exercise of this Warrant or to credit such shares to the Holder’s DTC account (as
the case may be) as required pursuant to the terms hereof.

 

Section 2.          Warrant
Register, Registration of Transfers.

 

Section 2.1.          Warrant
Register. The Company shall keep at its Principal Office, a register (the “Warrant Register”) in which the Company
shall record the name and address of the Holder from time to time and all transfers and exchanges of this Warrant. The Company
shall give the Holder prior written notice of any change of the address at which such register is kept.

 

Section 2.2.          Registration
of Transfers, Exchanges or Assignment of Warrants. The Holder shall be entitled to assign its interest in this Warrant in whole
or in part to any affiliate of Holder upon surrender thereof accompanied by a written instrument or instruments of transfer in
the form of assignment at the end hereof duly executed by the Holder. Except as set forth in the preceding sentence, this Warrant
may not be assigned by the Holder. This Warrant may also be exchanged or combined with warrants of like tenor at the option of
the Holder for another Warrant or Warrants of like tenor and representing in the aggregate the right to purchase a like number
of Warrant Shares upon presentation thereof to the Company as its Principal Office together with a written notice signed by the
Holder specifying the denominations in which the new Warrant is or the new Warrants are to be issued.

 

Upon surrender for transfer or exchange of this
Warrant to the Company at its Principal Office for transfer or exchange, in accordance with this Section 2, the Company shall,
without charge (subject to Section 3), execute and deliver a new Warrant or Warrants of like tenor and of a like aggregate amount
of Warrant Shares in the name of the assignee named in such instrument of assignment and, if the Holder’s entire interest
is not being assigned, in the name of the Holder with respect to that portion not transferred, and this Warrant shall promptly
be canceled.

 

Notwithstanding the foregoing, the Holder acknowledges
that this Warrant and the Warrant Shares have not been registered under the Securities Act of 1933, as amended (the “Act”),
and agrees not to sell, pledge, distribute, offer for sale, transfer or otherwise dispose of this Warrant and Warrant Shares in
the absence of (i) registration or qualification of this Warrant and such Warrant Shares under any applicable U.S. federal or state
securities law then in effect, or (ii) an opinion of counsel, satisfactory to the Company, that such registration and qualification
are not required.

 

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Section 3.          Payment
of Taxes. The Company shall pay all documentary stamp taxes, if any, attributable to the initial issuance of any Warrant Shares
upon the exercise of this Warrant; provided, however, that the Company shall not be required to pay any tax or taxes which may
be payable in respect of any transfer involved in the issue or delivery of any Warrant or certificate for Warrant Shares in a name
other than that of the Holder as such name is then shown on the books of the Company.

 

Section 4.          Certain
Covenants.

 

Section 4.1.          Reservation
of Warrant Shares. There have been reserved and the Company shall at all times keep reserved, out of its authorized but unissued
Common Stock, free from any preemptive rights, rights of first refusal or other restrictions (other than pursuant to the Act and
applicable state securities laws) a number of shares of Common Stock sufficient to provide for the exercise of the rights of purchase
represented by this Warrant.

 

Section 4.2.          No
Impairment. The Company shall not by any action including, without limitation, amending its Certificate of Incorporation, any
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 of the terms of this Warrant, but shall at all times in good faith
assist in the carrying out of all such terms and in the taking of all such action, as may be necessary or appropriate to protect
the rights of the Holder against impairment. Without limiting the generality of the foregoing, the Company shall take all such
action as may be necessary or appropriate in order that the Company may validly issue fully paid and nonassessable shares of Common
Stock upon the exercise of this Warrant at the then Warrant Price therefor.

 

Section 4.3.          Notice
of Certain Corporate Action. In case the Company shall propose (a) to offer to the holders of its Common Stock rights to subscribe
for or to purchase any shares of Common Stock or shares of stock of any class or any other securities, rights or options, or (b)
to effect any reclassification of its Common Stock (other than a reclassification involving only the subdivision, or combination,
of outstanding shares of Common Stock), or (c) to effect any capital reorganization, or (d) to effect any Change of Control, or
(e) to effect the liquidation, dissolution or winding up of the Company or (f) to offer to the holders of its Common Stock the
right to have their shares of Common Stock repurchased or redeemed or otherwise acquired by the Company, or (g) to take any other
action which would require the adjustment of the Warrant Price and/or the number of Warrant Shares issuable upon exercise of this
Warrant, then in each such case (but without limiting the provisions of Section 5), the Company shall give to the Holder, a notice
of such proposed action, which shall specify the date on which a record is to be taken for purposes of such dividend, distribution
or offer of rights, or the date on which such reclassification, reorganization, Change of Control, liquidation, dissolution, or
winding up is to take place and the date of participation therein by the holders of Common Stock, if any such date is to be fixed
and shall also set forth such facts with respect thereto as shall be reasonably necessary to indicate the effect of such action
on the Common Stock. Such notice shall be so given at least ten (10) Business Days prior to the record date for determining holders
of the Common Stock for purposes of participating in or voting on such action, or at least ten (10) Business Days prior to the
date of the taking of such proposed action or the date of participation therein by the holders of Common Stock, whichever shall
be the earlier. Such notice shall specify, in the case of any subscription or repurchase rights, the date on which the holders
of Common Stock shall be entitled thereto, or the date on which the holders of Common Stock shall be entitled to exchange their
Common Stock for securities or other property deliverable upon any reorganization, reclassification, Change of Control or other
action, as the case may be. Such notice shall also state whether the action in question or the record date is subject to the effectiveness
of a registration statement under the Act or to a favorable vote of security holders, if either is required, and the adjustment
in Warrant Price and/or number of Warrant Shares issuable upon exercise of this Warrant as a result of such reorganization, reclassification,
Change of Control or other action, to the extent then determinable. No such notice shall be given if the Company reasonably determines
that the giving of such notice would require disclosure of material information which the Company has a bona fide purpose for preserving
as confidential or the disclosure of which would not be in the best interests of the Company.

 

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Section 4.4.          Purchase
Entirely for Own Account. The Holder acknowledges that this Warrant is given to the Holder in reliance upon the Holder’s
representation to the Company, which by its acceptance of this Warrant the Holder hereby confirms, that the Warrant and the Warrant
Shares (collectively, the “Securities”) being acquired by the Holder are being acquired for investment for the Holder’s
own account, not as a nominee or agent, and not with a view to the resale or distribution of any part thereof, and that the Holder
has no present intention of selling, granting any participation in, or otherwise distributing the same. By executing this Warrant,
the Holder further represents that the Holder does not presently have any contract, undertaking, agreement or arrangement with
any person to sell, transfer or grant participations to such person or to any third person, with respect to any of the Securities.
The Holder represents that it has full power and authority to enter into this Warrant. The Holder has not been formed for the specific
purpose of acquiring any of the Securities.

 

Section 4.5.          Disclosure
of Information. The Holder has had an opportunity to discuss the Company’s business, management, financial affairs and
the terms and conditions of the offering of the Securities with the Company’s management and has had an opportunity to review
the Company’s facilities, and has had an opportunity to read all of the Company’s filings with the Securities and Exchange
Commission.

 

Section 4.6.          Restricted
Securities. The Holder understands that the Securities have not been, and will not be, registered under the Act, by reason
of a specific exemption from the registration provisions of the Act which depends upon, among other things, the bona fide nature
of the investment intent and the accuracy of the Holder’s representations as expressed herein. The Holder understands that
the Securities are “restricted securities” under applicable U.S. federal and state securities laws and that, pursuant
to these laws, the Holder must hold the Securities indefinitely unless they are registered with the Securities and Exchange Commission
and qualified by state authorities, or an exemption from such registration and qualification requirements is available. The Holder
further acknowledges that if an exemption from registration or qualification is available, it may be conditioned on various requirements
including, but not limited to, the time and manner of sale, the holding period for the Securities, and on requirements relating
to the Company which are outside of the Holder’s control, and which the Company is under no obligation and may not be able
to satisfy.

 

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Section 4.7.          Accredited
Investor. The Holder is an accredited investor as defined in Rule 501(a) of Regulation D promulgated under the Act.

 

Section 5.          Adjustment
of Warrant Price.

 

Section 5.1.          Subdivision
or Combination of Stock. In case the Company shall at any time (i) issue a dividend payable in Common Stock or any rights to
subscribe for or to purchase, or any options for the purchase of, Common Stock or (ii) subdivide its outstanding shares of Common
Stock into a greater number of shares or combine its outstanding shares of Common Stock into a smaller number of shares, then (x)
in the case of a dividend or subdivision, the Warrant Price in effect immediately prior to such dividend or subdivision shall be
proportionately decreased and the number of shares of Common Stock purchasable upon the exercise of the Warrant immediately prior
to such adjustment shall be proportionately increased, and (y) in the case of a combination, the Warrant Price in effect immediately
prior to such combination shall be proportionately increased and the number of shares of Common Stock purchasable upon the exercise
of the Warrant immediately prior to such adjustment shall be proportionately decreased.

 

Section 5.2.          Reorganization,
Reclassification, Consolidation, Merger or Sale. If any capital reorganization or reclassification of the capital stock of
the Company or any consolidation or merger of the Company with another corporation, other than a Change of Control, shall be effected
in such a way that holders of Common Stock shall be entitled to receive stock, securities or assets with respect to or in exchange
for Common Stock, then, as a condition of such reorganization, reclassification, consolidation, exercise, merger or sale, lawful
and adequate provision shall be made whereby the Holder shall thereafter have the right to receive upon the basis and upon the
terms and conditions specified herein and in lieu of the shares of Common Stock immediately theretofore receivable upon the exercise
of this Warrant, that number of shares of stock, securities or assets (including cash) as may be issued or payable with respect
to or in exchange for a number of outstanding shares of such Common Stock equal to the number of Warrant Shares for which this
Warrant could have been exercised immediately prior to such reorganization, reclassification, consolidation, merger or sale, and
in any such case appropriate provision shall be made with respect to the rights and interests of such Holder to the end that the
provisions hereof shall thereafter be applicable, as nearly as may be, in relation to any shares of stock, securities or assets
(including cash) thereafter deliverable upon the exercise of this Warrant. The Company will not effect any such consolidation,
merger or sale, unless prior to the consummation thereof the successor corporation (if other than the Company) resulting from such
consolidation or merger or the corporation purchasing such assets shall assume, by written instrument executed and mailed or delivered
to the Holder at the last address of such Holder appearing on the books of the Company, the obligation to deliver to such Holder
such shares of stock, securities or assets (including cash) as, in accordance with the foregoing provisions, the Holder may be
entitled to receive.

 

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Section 5.3.          Fractional
Shares. The Company shall not issue fractions of shares of Common Stock upon exercise of this Warrant or scrip in lieu thereof.
If any fraction of a share of Common Stock would, except for the provisions of this Section 5.3, be issuable upon exercise of this
Warrant, the Company shall in lieu thereof pay to the person entitled thereto an amount in cash equal to the current value of such
fraction, calculated to the nearest one-hundredth (1/100) of a share, to be computed on the basis of the Market Price for a share
of Common Stock as of the date of exercise.

 

Section 5.4.          Notice
of Adjustment. Upon any adjustment of the Warrant Price, and from time to time upon the request of the Holder, the Company
shall furnish to the Holder the Warrant Price resulting from such adjustment or otherwise in effect and the number of Warrant Shares
then available for purchase under this Warrant, setting forth in reasonable detail the method of calculation and the facts upon
which such calculation is based.

 

Section 5.5.          Certain
Events. If any event occurs as to which, in the good faith judgment of the Board of Directors of the Company the other provisions
of this Section 5 are not strictly applicable or if strictly applicable would not fairly protect the exercise rights of the Holder
in accordance with the essential intent and principles of such provisions, then the Board of Directors of the Company in the good
faith, reasonable exercise of its business judgment shall make an adjustment in the application of such provisions, in accordance
with such essential intent and principles so as to protect such exercise rights as aforesaid.

 

Section 6.          No
Rights as a Stockholder; Notice to Holder. Nothing contained in this Warrant shall be construed as conferring upon the Holder
the right to vote or to consent or to receive notice as a stockholder in respect of any meeting of stockholders for the election
of directors of the Company or any other matter, or any rights whatsoever as a stockholder of the Company.

 

Section 7.          Replacement
of Warrant. Upon receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of
this Warrant and (in the case of loss, theft or destruction) upon delivery of an indemnity agreement (with, in the case of a Holder
which is not a qualified institutional buyer within the meaning of Rule 144A under the Act, surety) in an amount reasonably satisfactory
to it, or (in the case of mutilation) upon surrender and cancellation thereof, the Company will issue, in lieu thereof, a new Warrant
of like tenor.

 

Section 8.          Notices.
All notices and other written communications provided for hereunder shall be given in writing and delivered in person or sent by
overnight delivery service (with charges prepaid) or by facsimile transmission, if the original of such facsimile transmission
is sent by overnight delivery service (with charges prepaid) by the next succeeding Business Day and (i) if to the Holder addressed
to it at the address or fax number specified for such Holder in the Warrant Register or at such other address or fax number as
the Holder shall have specified to the Company in writing in accordance with this Section 8, and (ii) if to the Company, addressed
to it at 5400 Broken Sound Blvd. NW – Suite 500, Boca Raton, Florida, Fax No: (561) 443-2627 or at such other address or
fax number as the Company shall have specified to the Holder in writing in accordance with this Section 8. Notice given in accordance
with this Section 8 shall be effective upon the earlier of the date of delivery or the second Business Day at the place of delivery
after dispatch.

 

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Section 9.          Applicable
Law. This Warrant shall be governed by and construed in accordance with the laws of the State of Delaware without giving effect
to principles of conflict of laws.

 

Section 10.         Warrant
Share Legend. Each certificate representing Warrant Shares, until such Warrant Shares have been distributed pursuant to a registration
statement effective under the Act or sold to the public through a broker, dealer or market maker in compliance with Rule 144 under
the Act (or any similar rule then in force) shall bear one or all of the following legends:

 

“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 DISPOSITION 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.”

 

Any legend required by the Blue Sky laws of any
state to the extent such laws are applicable to the shares represented by the certificate so legended.

 

Section 11.         Captions.
The captions of the Sections and subsections of this Warrant have been inserted for convenience only and shall have no substantive
effect.

 

Section 12.         Amendment
or Waiver. Any term of this Warrant may be amended or waived only by an instrument in writing signed by the Company and the
Holder.

 

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IN WITNESS WHEREOF, the undersigned have executed
this Warrant as of the 16TH day of February, 2012.

 

	 	VITACOST.COM, INC.
	 	 
	 	By:	 
	 	 	Name:  Stephen E. Markert
	 	 	Title:  Interim Chief Financial Officer
	 	 
	 	[NAME OF WARRANT HOLDER]
	 	 
	 	By:	 
	 	 	Name: 
	 	 	Title: 

 

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EXECUTION VERSION

 

[To be signed only upon exercise of Warrant]

 

TO Vitacost.com, Inc.:

 

The undersigned, the holder of the within Warrant
(the “Holder”), hereby irrevocably elects to exercise the purchase right represented by such Warrant for, and to purchase
thereunder, ______ shares of Common Stock of Vitacost.com, Inc. and herewith [makes payment of $______ therefor in full payment
of the Exercise Payment][tenders securities having a Market Price of $_____ in full payment of the Exercise Payment] or [elects
to receive a payment equal to the difference between (i) the Market Price (as defined in the Warrant) multiplied by ________ (the
number of Warrant Shares as to which the payment is being elected) and (ii) ___________, which is the exercise price with respect
to such Warrant Shares, in full payment of the Exercise Payment, payable by the Company to the Holder only in shares of Common
Stock valued at the Market Price in accordance with the terms of the Warrant], and requests that the certificates for such shares
be issued in the name of, and be delivered to ______, whose address is ________.

 

	Dated:	 
	________________________	 
	 	 
	 	______________________________________________
	 	(Signature must conform in all respects to name of Holder as specified on the face of the Warrant)
	 	 
	 	_______________________________________________
	 	Address

 

    	 

    	 

    

 

EXECUTION VERSION 

 

[To be signed only upon transfer of Warrant]

 

FOR VALUE RECEIVED, the undersigned hereby sells,
assigns and transfers unto _____________ the right represented by the within Warrant to purchase _____ shares of the Common Stock
of Vitacost.com, Inc. to which the within Warrant relates, and appoints _______ attorney to transfer said right on the books of
Vitacost.com, Inc. with full power of substitution in the premises.

 

Dated:

____________________________________

(Signature must conform in all respects to

name of Holder as specified on the face of the Warrant)

 

	 	 	__________________________________________	 
	 	 	Address	 
	 	 	 	 
	In the presence of:	 	 	 
	 	 	 	 
	___________________________EXECUTION VERSION

 

REGISTRATION
RIGHTS AGREEMENT

 

REGISTRATION RIGHTS AGREEMENT,
dated as of February 16, 2012 (this "Agreement"), by and between Vitacost.com, Inc., a Delaware corporation (together
with any successor entity thereto, the "Company"), on the one hand, and Jeffrey Horowitz and JHH Capital, LLC (each a
“Holder” and together, the "Holders"), on the other hand.

 

WHEREAS, the Company, the
Holder and certain other parties have entered into that certain Purchase Agreement, dated as of the date hereof (the “Purchase
Agreement”); and

 

WHEREAS, in connection
with the Purchase Agreement, the Company has agreed to provide the Holders with certain registration rights with respect to the
Registrable Securities (as defined herein) as set forth herein.

 

NOW, THEREFORE, in consideration
of the mutual covenants and agreements contained herein and for other good and valuable consideration, the receipt and adequacy
of which are hereby acknowledged, intending to be legally bound, the parties hereto agree as follows:

 

Article
I

DEFINITIONS

 

Section
1.01.   Definitions.  The
following terms shall have the meanings ascribed to them below:

 

“Agreement”
means this Agreement, as amended, modified or supplemented from time to time, in accordance with the terms hereof, together with
any exhibits, schedules or other attachments thereto.

 

“Commission”
means the United States Securities and Exchange Commission or any other federal agency at the time administering either the Securities
Act or the Exchange Act.

 

“Common
Stock” means common stock, $0.00001 par value per share, of the Company (and any other securities into which or
for which the Common Stock may be converted or exchanged pursuant to a dividend, stock split, plan of recapitalization, reorganization,
merger, sale of assets or otherwise).

 

“Company”
has the meaning set forth in the preamble to this Agreement.

 

“Controlling
Person” has the meaning set forth in Section 3.01.

 

“Damages”
has the meaning set forth in Section 3.01.

 

“Demand
Registration” has the meaning set forth in Section 2.01(a).

 

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

 

    	 

    	 

    

 

“Full
Cooperation” means, in connection with any Demand Registration, where, in addition to the cooperation otherwise
required by this Agreement, members of senior management of the Company (including the chief executive officer and chief financial
officer) fully cooperate with the underwriter(s) in connection with all reasonable and customary recommendations and requests
of such underwriter(s), and make themselves available upon reasonable notice to participate in due diligence meetings or calls,
“road-show” and other customary marketing activities in such locations (domestic
and foreign) as recommended by the underwriter(s) (including one-on-one meetings with prospective purchasers of the Registrable
Securities).

 

“Holder”
and “Holders” has the meaning set forth in the preamble to this Agreement,
and shall include any Permitted Transferee that becomes a Holder pursuant to Section 4.05.

 

“Holders’
Counsel” has the meaning set forth in Section 2.04.

 

“Indemnified
Party” has the meaning set forth in Section 3.03.

 

“Indemnifying
Party” has the meaning set forth in Section 3.03.

 

“FINRA”
means the Financial Industry Regulatory Authority, Inc.

 

“Permitted
Transferee” has the meaning set forth in Section 4.05.

 

“Person”
shall mean any individual, corporation, partnership, firm, limited liability company, joint venture, trust, association, unincorporated
organization, university, group, joint-stock company or other entity.

 

“Piggyback
Registration” has the meaning set forth in Section 2.03(a).

 

“Registrable
Securities” means, subject to the last sentence of this definition, the shares of Common Stock held beneficially
or of record by any of the Holders, including shares of Common Stock (x) owned by any of the Holders prior to the date of this
Agreement and (y) acquired by way of a dividend, stock split, recapitalization, plan of reorganization, merger, sale of assets
or otherwise. As to any particular Registrable Securities, such securities shall cease to be Registrable Securities when (i) a
Registration Statement with respect to the resale of such shares of Common Stock has been declared effective by the Commission
and such shares of Common Stock have been sold pursuant to such effective Registration Statement, (ii) such shares of Common
Stock shall have been or all remaining Registrable Securities held by such Holder may immediately be sold under Rule 144 (or any
similar provision then in force) under the Securities Act, (iii) such shares of Common Stock (A) otherwise have been transferred,
(B) are represented by a new certificate or other evidence of ownership for such Common Stock not bearing a restrictive legend
against transfer under the Securities Act, (C) are not subject to any stop order and (D) may be publicly resold by the Person receiving
such certificate without complying with the registration requirements of the Securities Act, or (iv) such shares of Common
Stock shall have ceased to be outstanding.

 

“Registration
Expenses” has the meaning set forth in Section 2.04.

 

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“Registration
Statement” means any registration statement of the Company on an appropriate registration form under the Securities
Act that covers any of the Registrable Securities (including, as applicable, a Shelf Registration Statement), including the prospectus,
amendments and supplements thereto, and all exhibits and material incorporated by reference therein.

 

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

 

“Shelf
Registration Statement” has the meaning set forth in Section 2.02.

 

“Suspension
Notice” has the meaning set forth in Section 2.07(a).

 

“Underwriter”
means a securities dealer who purchases any Registrable Securities as principal in an underwritten offering and not as part of
such dealer’s market-making activities.

 

“Underwriters’
Maximum Number” means, for any Demand Registration or Piggyback Registration, that number of securities to which
such registration should, in the opinion of the managing underwriter(s) of such registration, in the light of marketing factors,
be limited.

 

Article
II

REGISTRATION
RIGHTS

 

Section
2.01.   Demand For Non-Shelf Registration; Underwritten Offering.

 

(a)        Requests
for Registration. Subject to the blackout provisions contained in Section 2.07 and the limitations set forth in this Section
2.01, the Holders of a majority of Registrable Securities shall have the right to require the Company to file a Registration Statement
covering all or part of their respective Registrable Securities for an underwritten registration under the Securities Act (a “Demand
Registration”) by delivering a written request therefor to the Company specifying the number of Registrable Securities
to be included in such underwritten registration by such Holder or Holders. As soon as practicable after the receipt of such demand,
the Company shall use commercially reasonable efforts to effect such registration (including, without limitation, appropriate qualification
under applicable blue sky or other state securities laws and appropriate compliance with applicable regulations issued under the
Securities Act and any other governmental requirements or regulations) of the Registrable Securities that the Company has been
so requested to register; provided that the Holders shall not make a request for a Demand Registration under this Section
2.01(a) to offer in the aggregate less than 50% of all Registrable Securities; and provided, further, that the Holders
will not be entitled to require the Company to effect (x) more than one Demand Registration during any twelve-month period or (y)
more than two Demand Registrations in the aggregate under this Agreement.

 

(b)        Underwriting.
The offering of the Registrable Securities pursuant to such Demand Registration shall be in the form of an underwritten public
offering only. The Company shall (together with the Holders proposing to distribute their securities through such underwriting)
enter into an underwriting agreement in customary form with the managing Underwriter selected for such underwriting by the Company
and reasonably acceptable to a majority of the Holders proposing to distribute their securities through such underwriting, which
underwriting agreement shall have substantially the same indemnification provisions as set forth in this Agreement.

 

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(c)        Priority
on Demand Registration. If, in connection with a Demand Registration, the managing Underwriter(s) give written advice to the
Company of an Underwriters’ Maximum Number, then: (i) the Company shall so advise all Holders of Registrable Securities to
be included in such Demand Registration and the Company will be obligated and required to include in such registration that number
of Registrable Securities requested by the Holders thereof to be included in such registration and that does not exceed such Underwriters’
Maximum Number and such Registrable Securities shall be allocated pro rata among the Holders thereof on the basis of the number
of Registrable Securities requested to be included therein by each such Holder. No shares of Common Stock held by any Person other
than Registrable Securities held by the Holders shall be included in a Demand Registration without the prior written consent of
the holders of a majority in interest of the Registrable Securities.

 

(d)        Effected
Demand Registration. A registration will not be deemed to have been effected as a Demand Registration unless it has been declared
effective by the Commission and the Company has complied in all material respects with its obligations under this Agreement with
respect thereto; provided, however, that if, after it has become effective, such registration or the related offer,
sale or distribution of Registrable Securities thereunder is or becomes the subject of any stop order, injunction or other order
or requirement of the Commission or any other governmental or administrative agency, or if any court prevents or otherwise limits
the sale of the Registrable Securities pursuant to the registration, and, as a result thereof, 66-2/3% of the Registrable Securities
covered thereby have not been sold, or if the Company fails to provide Full Cooperation, then such registration will be deemed
not to have been effected for purposes of clause (y) of the second proviso to Section 2.01(a). If (i) a registration requested
pursuant to this Section 2.01 is deemed not to have been effected or (ii) the registration requested pursuant to this Section 2.01
does not remain continuously effective until 45 days after the commencement of the distribution by the Holders of the Registrable
Securities included in such underwritten offering, then the Company shall continue to be obligated to effect the underwritten registration
of the Registrable Securities included in such Demand Registration pursuant to this Section 2.01. In circumstances not including
the events described in the immediately two preceding sentences of this Section 2.01(d), each Holder of Registrable Securities
shall be permitted voluntarily to withdraw all or any part of its Registrable Securities from a Demand Registration at any time
prior to the commencement of marketing of such Demand Registration, provided that such registration nonetheless shall count
as a Demand Registration for purposes of clause (y) of the second proviso to Section 2.01(a).

 

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Section
2.02.   Shelf Registration.  At any time following the date that this 18 months following the date of this
Agreement (provided that at such time the Company is eligible to use Form S-3 (or a substantially equivalent short-form
registration statement) for a secondary offering), upon the request of Holders holding a majority of the Registrable Securities,
the Company shall use commercially reasonable efforts to promptly file a Registration Statement on Form S-3 (or such other substantially
equivalent short-form registration statement) under the Securities Act providing for the resale pursuant to Rule 415 from time
to time by the Holders of such number of shares of Registrable Securities requested by the Holders to be registered thereby (including
the prospectus, amendments and supplements to the shelf 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, if any,
in such shelf registration statement, the “Shelf Registration Statement”).
The Company shall use commercially reasonable efforts to cause the Shelf Registration Statement to be declared effective by the
SEC as promptly as practicable following such filing. The Company shall maintain the effectiveness of the Shelf Registration Statement
for a period of 18 months in the aggregate (or until such earlier time as all of the Registrable Securities can be sold without
restriction pursuant to Rule 144 under the Securities Act). The plan of distribution contained in the Shelf Registration Statement
shall be substantially in the form attached as Exhibit A hereto, unless otherwise determined by the Company and the Holders holding
a majority of the Registrable Securities. No shares of Common Stock held by any Person other than Registrable Securities held
by the Holders shall be included in a Shelf Registration Statement without the prior written consent of the holders of a majority
in interest of the Registrable Securities.

 

Section
2.03.   Piggyback Registration.

 

(a)        Notice
of Piggyback Registration. If (and on each occasion that) the Company proposes to register any of its securities under the
Securities Act either for the Company’s own account or for the account of any of its stockholders (other than (A) securities
to be issued solely in connection with any acquisition of or business combination with any entity or business, (B) securities issuable
solely upon the exercise of stock options, (C) securities issuable solely pursuant to employee benefit plans, or (D) for Holders
pursuant to Section 2.01 or 2.02 hereof entitled to participate in a registration) (each such registration not withdrawn or abandoned
prior to the effective date thereof being herein called a “Piggyback Registration”),
the Company will give written notice to all Holders of such proposal not later than the earlier to occur of (A) the 10th day following
the receipt by the Company of notice of exercise of any registration rights by any Persons, and (B) the 20th day prior to the anticipated
filing date of such Piggyback Registration.

 

(b)       Piggyback
Rights. Subject to the provisions contained in paragraph (c) of this Section 2.03 and in the last sentence of this paragraph
(b), the Company will be obligated and required to use commercially reasonable efforts to include in each Piggyback Registration
such Registrable Securities as requested in a written notice from any Holder delivered to the Company no later than 15 days following
delivery of the notice from the Company specified in Section 2.03(a). The Holders of Registrable Securities shall be permitted
to withdraw all or any part of their shares from any Piggyback Registration at any time prior to the effective date of such Piggyback
Registration, except as otherwise provided in any written agreement with the Company’s underwriter(s) establishing the terms
and conditions under which such Holders would be obligated to sell such securities in such Piggyback Registration.

 

(c)       Company
Officers and Directors. Subject to Section 2.03(d), the Company may, in its sole discretion, offer to include any shares of
Common Stock beneficially owned by any of the Company’s directors or executive officers in any Piggyback Registration on
the same terms and conditions applicable to the Holders of the Registrable Securities pursuant to this Section 2.03.

 

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(d)        Priority
on Piggyback Registrations. If a Piggyback Registration is an underwritten registration, and the managing underwriter(s) shall
give written advice to the Company of an Underwriters’ Maximum Number, then: (i) the Company shall be entitled to include
in such registration that number of securities which the Company proposes to offer and sell for its own account in such registration
and which does not exceed the Underwriters’ Maximum Number, and (ii) if the Underwriters’ Maximum Number exceeds the
number of securities which the Company proposes to offer and sell for its own account in such registration, then such excess, up
to the Underwriters’ Maximum Number, shall be allocated pro rata among the Holders and the Company’s directors and
executive officers on the basis of the number of securities requested to be included therein by each such Person.

 

(e)        Selection
of Underwriter(s). In any Piggyback Registration, the Company shall have the right to select the investment banker(s) and managing
underwriter(s) in such registration.

 

Section
2.04.  Registration Expenses.  In connection with registrations pursuant to Section 2.01, 2.02 or 2.03 hereof,
the Company shall pay all of the registration costs and expenses incurred in connection with the registration thereunder (the
“Registration Expenses”), including, without limitation, all: (i) registration
and filing fees and expenses, including, without limitation, those related to filings with the Commission, (ii) fees and expenses
of compliance with state securities or blue sky laws (including reasonable fees and disbursements of counsel in connection with
blue sky qualifications of the Registrable Securities), (iii) reasonable processing, duplicating and printing expenses, including,
without limitation, expenses of printing prospectuses reasonably requested by any Holder, (iv) of the Company’s internal
expenses (including, without limitation, all salaries and expenses of its officers and employees performing legal or accounting
duties, the expense of any liability insurance and the expense of any annual audit or quarterly review), (v) fees and expenses
incurred in connection with listing the Registrable Securities for trading on a national securities exchange, including, without
limitation, fees and expenses of The NASDAQ Stock Market, (vi) fees and expenses in connection with the preparation of the registration
statement and related documents covering the Registrable Securities, (vii) fees and expenses, if any, incurred with respect to
any filing with FINRA, (viii) any documented out-of-pocket expenses of the Underwriter(s) incurred with the approval of the Company,
(ix) the cost of providing any CUSIP or other identification numbers for the Registrable Securities, (x) fees and expenses
and disbursements of counsel for the Company and fees and expenses for independent certified public accountants retained by the
Company (including, without limitation, the expenses of any comfort letters or costs associated with the delivery by independent
certified public accountants of a comfort letter or comfort letters requested), (xi) fees and expenses of any special experts
retained by the Company in connection with such registration, and (xii) reasonable and documented fees and expenses of one
firm of counsel for the Holders to be selected by the Holders of a majority of the Registrable Securities to be included in such
registration (“Holders’ Counsel”); provided, however,
that the Company shall reimburse the Holders for the reasonable and documented fees and disbursements of each additional counsel
retained by any Holder for the purpose of rendering any opinion required by the Company or the managing Underwriter(s) to be rendered
on behalf of such Holder in connection with any Demand Registration. Notwithstanding the foregoing, each Holder shall be responsible
for any underwriting fees, discounts or commissions attributable to the sale of Registrable Securities pursuant to a Registration
Statement. The obligation of the Company to bear the expenses described in this Section 2.04 and to pay or reimburse the Holders
for the expenses described in this Section 2.04 shall apply irrespective of whether any sales of Registrable Securities ultimately
take place.

 

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Section
2.05.   Registration Procedures.  In the case of each registration effected by the Company pursuant to this
Agreement, the Company shall keep each Holder advised in writing as to the initiation of each registration and as to the completion
thereof. In connection with any such registration:

 

(a)        The
Company will promptly prepare and file with the Commission a Registration Statement on Form S-1 or another appropriate Securities
Act form reasonably acceptable to the Holders, and use commercially reasonable efforts to cause such Registration Statement to
become and remain effective until the completion of the distribution contemplated thereby.

 

(b)       The
Company will promptly prepare and file with the Commission such amendments to each Registration Statement as may be necessary to
keep such Registration Statement effective for as long as such registration is required to remain effective pursuant to the terms
hereof; cause the prospectus to be supplemented by any required prospectus supplement, and, as so supplemented, to be filed pursuant
to Rule 424 under the Securities Act; and comply with the provisions of the Securities Act applicable to it with respect to
the disposition of all Registrable Securities covered by such Registration Statement during the applicable period in accordance
with the intended methods of disposition by the Holders set forth in such Registration Statement or supplement to the prospectus.

 

(c)       The
Company, at least 10 days prior to filing a Registration Statement or at least five days prior to filing a prospectus
or any amendment or supplement to such Registration Statement or prospectus, will furnish to (i) each Holder of Registrable
Securities covered by such Registration Statement, (ii) Holders’ Counsel and (iii) each Underwriter of the Registrable
Securities covered by such Registration Statement, copies of such Registration Statement and each amendment or supplement as proposed
to be filed, together with any exhibits thereto, which documents will be subject to reasonable review and approval (which approval
shall not be unreasonably withheld) by each of the foregoing Persons within five days after delivery (except that such review
and approval of any prospectus or any amendment or supplement to such Registration Statement or prospectus must be completed within
three days), and thereafter, furnish to such Holders, Holders’ Counsel and Underwriters, if any, such number of copies
of such Registration Statement, each amendment and supplement thereto (in each case including all exhibits thereto and documents
incorporated by reference therein), the prospectus included in such Registration Statement (including each preliminary prospectus)
and such other documents or information as such Holder, Holders’ Counsel or Underwriters may reasonably request in order
to facilitate the disposition of the Registrable Securities in accordance with the plan of distribution set forth in the prospectus
included in the Registration Statement; provided, however, that notwithstanding the foregoing, if the Company intends
to file any prospectus, prospectus supplement or prospectus sticker that does not make any material changes in the documents already
filed, then Holders’ Counsel will be afforded such opportunity to review such documents prior to filing consistent with the
time constraints involved in filing such document, but in any event no less than one day.

 

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(d)       The
Company will promptly notify each Holder of any stop order issued or threatened by the Commission and, if entered, use commercially
reasonable efforts to prevent the entry of such stop order or to remove it as soon as reasonably possible.

 

(e)       On
or prior to the date on which the Registration Statement is declared effective, the Company shall use commercially reasonable efforts
to register or qualify such Registrable Securities under such other securities or blue sky laws of such jurisdictions as any Holder
reasonably requests and do any and all other lawful acts and things which may be necessary or advisable to enable the Holders to
consummate the disposition in such jurisdictions of such Registrable Securities, and use commercially reasonable efforts to keep
each such registration or qualification (or exemption therefrom) effective during the period which the Registration Statement is
required to be kept effective; provided that the Company will not be required to (i) qualify generally to do business
in any jurisdiction where it would not otherwise be required to qualify but for this paragraph (e), (ii) subject itself to
taxation in any such jurisdiction or (iii) consent to general service of process in any such jurisdiction.

 

(f)       The
Company will notify each Holder, Holders’ Counsel and Underwriter promptly and (if requested by any such Person) confirm
such notice in writing, (i) when a prospectus or any prospectus supplement or post-effective amendment has been filed and,
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 to be included in any Registration Statement or prospectus or otherwise,
(iii) of the issuance by any state securities commission or other regulatory authority of any order suspending the qualification
or exemption from qualification of any of the Registrable Securities under state securities or blue sky laws or the initiation
of any proceedings for that purpose, and (iv) of the happening of any event that makes any statement made in a Registration
Statement or related prospectus or any document incorporated or deemed to be incorporated by reference therein untrue or that requires
the making of any changes in such Registration Statement, prospectus or documents so that they 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 in the
Registration Statement and prospectus not misleading in light of the circumstances in which they were made; and, as promptly as
practicable thereafter, prepare and file with the Commission and furnish a supplement or amendment to such prospectus so that,
as thereafter deliverable to the purchasers of such Registrable Securities, such prospectus will not contain any untrue statement
of a material fact or omit to state a material fact necessary to make the statements therein, in light of the circumstances under
which they were made, not misleading. Each Holder hereby agrees to keep any disclosures under subsection (iv) above confidential
until such time as a supplement or amendment is filed.

 

(g)       The
Company will furnish customary closing certificates and other deliverables to the Underwriter(s) and the Holders and enter into
customary agreements satisfactory to the Company (including, if applicable, an underwriting agreement in customary form) and take
such other actions as are reasonably required in order to expedite or facilitate the disposition of such Registrable Securities.

 

    	8

    	 

    

 

(h)       The
Company will make available for inspection by any Underwriter participating in any disposition pursuant to such Registration Statement,
and any attorney, accountant or other agent retained by any such seller or Underwriter (in each case after reasonable prior notice
and at reasonable times during normal business hours and without unnecessary interruption of the Company’s business or operations),
all financial and other records, pertinent corporate documents and properties of the Company, and cause the Company’s officers,
directors, employees and independent accountants to supply all information reasonably requested by any such seller, Underwriter,
attorney, accountant or agent in connection with such registration statement.

 

(i)        The
Company, during the period when the prospectus is required to be delivered under the Securities Act, promptly will file all documents
required to be filed with the Commission pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act.

 

(j)        The
Company shall use commercially reasonable efforts to cause all such Registrable Securities registered pursuant hereunder to be
listed on each national securities exchange on which similar securities of the same class issued by the Company are then listed.

 

(k)       The
Company shall use commercially reasonable efforts to ensure the obtaining of all necessary approvals from FINRA.

 

(l)        The
Company shall provide a transfer agent and registrar for all such Registrable Securities not later than the effective date of such
registration statement.

 

(m)      The
Company shall furnish to each Holder a copy of all documents filed with and all correspondence from or to the Commission in connection
with any such offering of Registrable Securities.

 

(n)       The
Company otherwise shall comply with all applicable rules and regulations of the Commission.

 

(o)       The
Company shall furnish to each Holder, addressed to such Holder, (1) an opinion of counsel for the Company (which may be the Company’s
General Counsel), dated the effective date of the registration statement and the closing of the sale of any securities thereunder,
as well as a consent to be named in the registration statement or any prospectus thereto, and (2) comfort letters as well as an
audit opinion and consent to be named in the registration statement or any prospectus relating thereto signed by the Company’s
independent public accountants who have examined and reported on the Company’s financial statements included in the registration
statement covering substantially the same matters with respect to the registration statement (and the prospectus included therein)
and (in the case of the accountants’ comfort letters) with respect to events subsequent to the date of the financial statements,
as are customarily covered in opinions of issuer’s counsel and in accountants’ comfort letters delivered to the underwriters
in underwritten public offerings of securities, to the extent that the Company is required to deliver or cause the delivery of
such opinion or comfort letters to the underwriters in an underwritten public offering of securities.

 

(p)       In
connection with each Demand Registration, cause there to occur Full Cooperation.

 

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Section
2.06.   Holders’ Obligations. The Company may require each Holder to promptly furnish in writing to
the Company such information regarding the distribution of the Registrable Securities as the Company may from time to time reasonably
request and such other information as may be legally required in connection with such registration, including, without limitation,
all such information as may be requested by the Commission. Each Holder agrees that, upon receipt of any notice from the Company
of the happening of any event of the kind described in Section 2.05(f) hereof, such Holder will forthwith discontinue
disposition of Registrable Securities pursuant to the Registration Statement covering such Registrable Securities until such Holder’s
receipt of the copies of the supplemented or amended prospectus contemplated by Section 2.05(f) hereof, and, if so directed
by the Company, such Holder will deliver to the Company all copies, other than permanent file copies then in such Holder’s
possession and retained solely in accordance with record retention policies then-applicable to such Holder, of the most recent
prospectus covering such Registrable Securities at the time of receipt of such notice. In the event the Company shall give such
notice, the Company shall extend the period during which such Registration Statement shall be maintained effective by the number
of days during the period from and including the date of the giving of notice pursuant to Section 2.05(f) hereof
to the date when the Company shall make available to the Holders a prospectus supplemented or amended to conform with the requirements
of Section 2.05(f) hereof.

 

Section
2.07.   Blackout Provisions.

 

(a)        Notwithstanding
anything in this Agreement to the contrary, by delivery of written notice to the participating Holders (a “Suspension
Notice”) stating which one or more of the following limitations shall apply to the addressee of such Suspension
Notice, the Company may (1) postpone effecting a registration under this Agreement, or (2) require such addressee to
refrain from disposing of Registrable Securities under the registration, in either case for a period of no more than 90 consecutive
days from the delivery of such Suspension Notice (which period may not be extended or renewed). The Company may postpone effecting
a registration or apply the limitations on dispositions specified in clause 2 of this Section 2.07(a) if (x) the Company in
good faith determines that such registration or disposition would materially impede, delay or interfere with any material transaction
then pending on proposed to be undertaken by the Company or any of its subsidiaries, or (y) the Company in good faith determines
that the Company is in possession of material non-public information the disclosure of which during the period specified in such
notice the Company reasonably believes would not be in the best interests of the Company; provided that the Company may
not take any action pursuant to this Section 2.07(a) for a period of time in excess of 135 days in any 12-month period.

 

(b)        If
the Company shall take any action pursuant to clause 2 of Section 2.07(a) with respect to any participating Holder in a period
during which the Company shall be required to cause a Registration Statement to remain effective under the Securities Act and the
prospectus to remain current, such period shall be extended for such Person by one day beyond the end of such period for each day
that, pursuant to Section 2.07(a), the Company shall require such Person to refrain from disposing of Registrable Securities
owned by such Person.

 

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Section
2.08.   Exchange Act Registration.  The Company will use its reasonable best efforts to timely file with
the Commission such information as the Commission may require under Section 13(a) or Section 15(d) of the Exchange Act and the
Company shall use its reasonable best efforts to take all action as may be required as a condition to the availability of Rule
144 or Rule 144A under the Securities Act with respect to its Common Stock. The Company shall furnish to any holder of Registrable
Securities forthwith upon request such reports and documents as a holder may reasonably request in availing itself of any rule
or regulation of the Commission allowing a holder to sell any such Registrable Securities without registration to the extent that
such reports or documents are not publicly available on the Commission’s Electronic Data Gathering, Analysis and Retrieval
system or any successor system thereto. Certificates evidencing Registrable Securities shall not contain any legend at such time
as a Holder has provided reasonable evidence to the Company (including any customary broker’s or selling stockholder’s
letters but expressly excluding an opinion of counsel other than with respect to clauses (iv) or (v) below), that: (i) there has
been a sale of such Registrable Securities pursuant to an effective registration statement, (ii) there has been a sale of such
Registrable Securities pursuant to Rule 144 (assuming the transferor is not an affiliate of the Company), (iii) such Registrable
Securities are then eligible for sale under Rule 144(b)(i), (iv) in connection with a sale, assignment or other transfer (other
than under Rule 144) provided that, upon request of the Company, such Holder provides the Company with an opinion of counsel to
such Holder, in a reasonably acceptable form, to the effect that such sale, assignment or transfer of the Registrable Securities
may be made without registration under the applicable requirements of the Securities Act or (v) if such legend is not required
under applicable requirements of the Securities Act (including, without limitation, controlling judicial interpretations and pronouncements
issued by the Commission). Following such time as restrictive legends are not required to be placed on certificates representing
Registrable Securities pursuant to the preceding sentence, the Company will, no later than three (3) business days following the
delivery by a Holder to the Company or the Company’s transfer agent of a certificate representing Registrable Securities
containing a restrictive legend and the foregoing evidence (and opinion if applicable), deliver or cause to be delivered to such
Holder a certificate representing such Registrable Securities that is free from all restrictive and other legends or credit the
balance account of such Holder’s or such Holder’s nominee with DTC (if DTC is then offered by the Company and its
transfer agent) with a number of shares of Common Stock equal to the number of shares of Common Stock represented by the certificate
so delivered by such Holder.

 

Section
2.09.   Damages. The Company recognizes and agrees that the Holders will not have an adequate remedy if
the Company fails to comply in all material respects with this Article 2 and that damages may not be readily ascertainable, and
the Company expressly agrees that, in the event of such failure, it shall not oppose an application by the holder of Registrable
Securities or any other Person entitled to the benefits of this Article 2 requiring specific performance, without the posting
of a bond, of any and all provisions hereof or enjoining the Company from continuing to commit any such breach of this Article
2.

 

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Article
III

INDEMNIFICATION

 

Section
3.01.   Indemnification by the Company.  The Company agrees, notwithstanding the termination of this Agreement,
to indemnify and hold harmless, to the fullest extent permitted by law, each Holder and each of its managers, members, partners,
officers, directors, employees and agents, and each Person, if any, who controls such Holder within the meaning of Section 15
of the Securities Act or Section 20 of the Exchange Act, together with the managers, members, partners, officers, directors, employees
and agents of such controlling Person (each, the “Controlling Person”), from and against any and all losses, claims,
damages, liabilities, reasonable attorneys’ fees, costs and expenses of investigating and defending any such claim (collectively,
“Damages”) and any action in respect thereof to which such Holder, its managers, members, partners, officers, directors,
employees and agents, and any such Controlling Person may become subject to under the Securities Act or otherwise, insofar as
such Damages (or proceedings in respect thereof) (a) arise out of, or are based upon, any untrue statement or alleged untrue statement
of a material fact contained in any Registration Statement or prospectus (or any amendment or supplement thereto) or any preliminary
prospectus, or arise out of, or are based upon, any omission or alleged omission to state therein a material fact required to
be stated therein or necessary to make the statements therein not misleading in light of the circumstances in which they were
made, except insofar as the same are based upon information furnished in writing to the Company by such Holder expressly for use
therein, and shall reimburse such Holder, its managers, members, partners, officers, directors, employees and agents, and each
such Controlling Person for any legal and other expenses reasonably incurred by such Holder, its managers, members, partners,
officers, directors, employees and agents, or any such Controlling Person in investigating or defending or preparing to defend
against any such Damages or proceedings; provided, however, that the Company shall not be liable to such Holder or other indemnitee
to the extent that any such Damages arise out of or are based upon an untrue statement or omission made in any preliminary prospectus
if (i) such Holder failed to send or deliver a copy of the final prospectus with or prior to the delivery of written confirmation
of the sale by such Holder to the Person asserting the claim from which such Damages arise in any case where such delivery of
the prospectus (as amended or supplemented) is required by the Securities Act, and (ii) the final prospectus would have corrected
such untrue statement or such omission, where such failure to deliver the prospectus was not a result of non-compliance by the
Company under Section 2.05(f) of this Agreement or (b) arise out of or relate to (i) any breach of any covenant, obligation or
agreement made by the Company in any Transaction Document (as defined in the Purchase Agreement) or (b) any cause of action, suit
or claim brought or made against any Holder by a third party (including for these purposes a derivative action brought on behalf
of the Company) and arising out of or resulting from (i) the execution, delivery, or performance of the Transaction Documents,
or (ii) the status of Holder as an investor in the Company pursuant to the transactions contemplated by the Transaction Documents;
provided, that a Holder shall not be entitled to indemnification to the extent any of the foregoing is caused by such Holder's
gross negligence, material violation of law or regulation or willful misconduct. In addition to the indemnity contained herein,
the Company will reimburse each Holder for its reasonable out-of-pocket legal and other expenses (including the reasonable out-of-pocket
cost of any investigation, preparation and travel in connection therewith) as incurred in connection therewith, as promptly as
practicable after such expenses are incurred and invoiced.

 

Section
3.02.  Indemnification by the Holders.  The Holders agree, jointly and severally, to indemnify and hold harmless
the Company, its officers, directors, employees and agents and each Person, if any, who controls the Company within the meaning
of Section 15 of the Securities Act or Section 20 of the Exchange Act, together with the managers, members, partners, officers,
directors, employees and agents of such Controlling Person, to the same extent as the foregoing indemnity from the Company to
the Holders, but only with reference to information related to the Holders, or their plan of distribution, furnished in writing
by the Holders to the Company expressly for use in any Registration Statement or prospectus, or any amendment or supplement thereto,
or any preliminary prospectus. No Holders shall be required to indemnify any Person pursuant to this Section 3.02 for any
amount in excess of the net proceeds of the Registrable Securities sold for the account of such Holder.

 

    	12

    	 

    

 

Section
3.03.   Conduct of Indemnification Proceedings.   Promptly after receipt by any Person (an “Indemnified
Party”) of notice of any claim or the commencement of any action in respect of which indemnity may be sought
pursuant to Section 3.01 or 3.02, the Indemnified Party shall, if a claim in respect thereof is to be made against the Person
against whom such indemnity may be sought (an “Indemnifying Party”),
notify the Indemnifying Party in writing of the claim or the commencement of such action; provided that the failure to
notify the Indemnifying Party shall not relieve it from any liability that it may have to an Indemnified Party otherwise than
under Section 3.01 or 3.02 except to the extent of any actual prejudice resulting therefrom. If any such claim or action
shall be brought against an Indemnified Party, and it shall notify the Indemnifying Party thereof, the Indemnifying Party shall
be entitled to participate therein, and, to the extent that it wishes, jointly with any other similarly notified Indemnifying
Party, to assume the defense thereof with counsel reasonably satisfactory to the Indemnified Party. After notice from the Indemnifying
Party to the Indemnified Party of its election to assume the defense of such claim or action, the Indemnifying Party shall not
be liable to the Indemnified Party for any legal or other expenses subsequently incurred by the Indemnified Party in connection
with the defense thereof other than reasonable costs of investigation; provided, that the Indemnified Party shall have
the right to employ separate counsel to represent the Indemnified Party and its Controlling Persons who may be subject to liability
arising out of any claim in respect of which indemnity may be sought by the Indemnified Party against the Indemnifying Party,
but the fees and expenses of such counsel shall be for the account of such Indemnified Party unless (i) the Indemnifying
Party and the Indemnified Party shall have mutually agreed to the retention of such counsel or (ii) in the reasonable opinion
of counsel to such Indemnified Party representation of both parties by the same counsel would be inappropriate due to actual or
potential conflicts of interest between them, it being understood, however, that the Indemnifying Party shall not, in connection
with any one such claim or action or separate but substantially similar or related claims or actions in the same jurisdiction
arising out of the same general allegations or circumstances, be liable for the fees and expenses of more than one separate firm
of attorneys (together with appropriate local counsel) at any time for all Indemnified Parties. No Indemnifying Party shall, without
the prior written consent of the Indemnified Party, effect any settlement of any claim or pending or threatened proceeding in
respect of which the Indemnified Party is or could have been a party and indemnity could have been sought hereunder by such Indemnified
Party, unless such settlement includes an unconditional release of such Indemnified Party from all liability arising out of such
claim or proceeding. Whether or not the defense of any claim or action is assumed by the Indemnifying Party, such Indemnifying
Party will not be subject to any liability for any settlement made without its consent.

 

Article
IV

MISCELLANEOUS

 

Section
4.01.   No Inconsistent Agreements; Most-Favored-Nations. The Company shall not hereafter enter into any
agreement with respect to its securities which is inconsistent with or violates the rights granted to the holders of Registrable
Securities in this Agreement. If the Company grants to any Person any rights with respect to the registration of any shares of
equity securities of the Company or any securities convertible or exercisable into shares of any equity securities of the Company
that are more favorable to such Person than the rights of the Holders set forth in this Agreement, then the Company shall grant
to the Holders the same rights granted to such other Person (and shall promptly enter into one or more amendments to this Agreement
to effect the foregoing).

 

    	13

    	 

    

 

Section
4.02.   Holdback Agreements. The Company agrees not to, and shall exercise its best efforts to obtain agreements
(in the underwriters’ customary form) from its directors and executive officers, and shall request that beneficial owners
of 5% or more of the Company’s outstanding voting stock, not to, directly or indirectly offer, sell, pledge, contract to
sell (including any short sale), grant any option to purchase or otherwise dispose of any equity securities of the Company or
enter into any hedging transaction relating to any equity securities of the Company during the 60 days beginning on the pricing
date of any underwritten offering effected pursuant to this Agreement, unless the underwriter managing the offering otherwise
agrees to a shorter period.

 

Section
4.03.   Termination of Registration Rights. The rights granted under this Agreement shall terminate on the
earlier of the date that (i) the Holders no longer beneficially own any Registrable Securities or (ii) all Registrable Securities
are eligible for sale without any volume or other limitations or restrictions.

 

Section
4.04.   Amendment and Modification.  This Agreement may be amended, modified and supplemented, and
any of the provisions contained herein may be waived, only by a written instrument signed by the Company and each Holder, provided
that the addition of a permitted assign as a Holder hereunder shall not constitute an amendment or modification for purposes
of this Section 4.04.

 

Section
4.05.   Assignment; Binding Effect; Entire Agreement.  The rights and obligations hereunder may be assigned
in whole or in part by any Holder to a controlled affiliate of such Holder and or to any member, partner or stockholder of any
such Holder (a “Permitted Transferee”) without the consent of the
Company or the other Holders. Such assignment shall be effective upon receipt by the Company of (x) written notice from the Holder
certifying that the transferee is a Permitted Transferee, stating the name and address of the Permitted Transferee and identifying
the amount of Registrable Securities with respect to which the rights under this Agreement are being transferred, and (y) a written
agreement from the Permitted Transferee to be bound by all of the terms of this Agreement. Upon receipt of the documents referenced
in (x) and (y) above, the Permitted Transferee shall thereafter be deemed to be a “Holder” for all purposes of this
Agreement. Except as set forth above, this Agreement and the rights and obligations hereunder may not be assigned by any party
hereto without the prior written consent of each of the other parties hereto. This Agreement and all of the provisions hereof
shall be binding upon and inure to the benefit of the parties hereto and their respective permitted successors and assigns. This
Agreement sets forth the entire agreement and understanding between the parties as to the subject matter hereof and merges and
supersedes all prior discussions, agreements and understandings of any and every nature among them with respect to the subject
matter hereof.

 

    	14

    	 

    

 

Section
4.06.   Severability. In the event that any provision of this Agreement or the application of any provision
hereof is declared to be illegal, invalid or otherwise unenforceable by a court of competent jurisdiction, the remainder of this
Agreement shall not be affected except to the extent necessary to delete such illegal, invalid or unenforceable provision unless
that provision held invalid shall substantially impair the benefits of the remaining portions of this Agreement.

 

Section
4.07.   Notices.  All notices, requests and other communications to any party hereunder shall be in
writing (including fax or similar writing) and shall be given to:

 

If to the Company:

 

Vitacost.com, Inc.

5400 Broken Sound Blvd. N.W., Suite
500

Boca Raton, FL 33487-3521

Phone: (561) 982 4180

Fax: (561) 443-2627

 

With a copy (which shall not constitute
notice) to:

Wilson Sonsini Goodrich & Rosati

1700 K Street, NW

Fifth Floor

Washington, DC 20006

Attention: Robert D. Sanchez, Esq.

                 Daniel S. Peale, Esq.

 

If to any of the Holders:

 

Jeffrey Horowitz

5400 Broken Sound Blvd. NW

Suite 500

Boca Raton, Florida 33487-3521

Phone: (561) 982-4180

Fax No.: (561) 443-2627

 

With a copy (which shall not constitute
notice) to:

 

Buchanan Ingersoll & Rooney PC

Two Liberty Place, Suite 3200

50 South 16th Street

Philadelphia, PA 19102-2555

Attention: Barry J. Siegel

 

    	15

    	 

    

 

or such other address or fax number as such
party may hereafter specify for the purpose of giving such notice to such party. Each such notice, request or other communication
shall be deemed to have been received (a) if given by fax, when such fax is transmitted to the fax number specified pursuant to
this Section 4.07 and appropriate confirmation is received, or (b) if given by any other means, when delivered in person or by
overnight courier or two business days after being sent by registered or certified mail (postage prepaid, return receipt requested).

 

Section
4.08.   Governing Law.  This Agreement and (unless otherwise provided) all amendments hereof and waivers
and consents hereunder shall be governed by the laws of the State of Delaware, notwithstanding any conflict of law provision to
the contrary.

 

Section
4.09.   Headings.  The headings in this Agreement are for convenience of reference only and shall not
constitute a part of this Agreement, nor shall they affect their meaning, construction or effect.

 

Section
4.10.  Counterparts. This Agreement may be executed via facsimile or electronic transmission and in any
number of counterparts, each of which shall be deemed to be an original instrument and all of which together shall constitute
one and the same instrument.

 

Section
4.11.  Further Assurances. Each party shall cooperate and take such action as may be reasonably requested by
another party in order to carry out the provisions and purposes of this Agreement and the transactions contemplated hereby.

 

Section
4.12.  Remedies. In the event of a breach or a threatened breach by any party to this Agreement of its obligations
under this Agreement, any party injured or to be injured by such breach will be entitled to specific performance, without posting
a bond, of its rights under this Agreement or to injunctive relief, in addition to being entitled to exercise all rights provided
in this Agreement and granted by law, it being agreed by the parties that the remedy at law, including monetary damages, for breach
of any such provision will be inadequate compensation for any loss and that any defense or objection in any action for specific
performance or injunctive relief that a remedy at law would be adequate is waived.

 

Section
4.13.   Pronouns. Whenever the context may require, any pronouns used herein shall be deemed also to include
the corresponding neuter, masculine or feminine forms.

 

Section
4.14.   Interpretation. In this Agreement, reference to any law, rule, regulation or act means such law,
rule, regulation or act as amended, modified, codified, replaced or reenacted, and all rules and regulations promulgated thereunder.

 

Section
4.15.   Jurisdiction; Service of Process; Waiver of Jury Trial.

 

(a)        To
the fullest extent permitted by law, each of the parties hereto unconditionally and irrevocably agrees to submit to the exclusive
jurisdiction of the state and federal courts located in the State of Delaware for any suit, action or proceeding seeking to enforce
any provision of, or based on any matter arising out of or in connection with, this Agreement and hereby irrevocably waives, to
the fullest extent permitted by applicable law, and agrees not to assert any objection, whether as a defense or otherwise, that
such party may now or hereafter have to the laying of the venue of any such suit, action or proceeding in any such court or that
any such suit, action or proceeding that is brought in any such court has been brought in an inconvenient forum or that such suit,
action or proceeding may not be brought or is not maintainable in such courts or that the venue thereof may not be appropriate,
or that this Agreement may not be enforced in or by such courts. To the fullest extent permitted by law, each party hereto agrees
that a final non-appealable judgment in any such suit, action or proceeding shall be conclusive and may be enforced in any other
jurisdiction in which a party may be found or may have assets by suit on the judgment or in any other manner provided by applicable
law, and agrees to the fullest extent permitted by law to consent to the enforcement of any such judgment and not to oppose such
enforcement or to seek review on the merits of any such judgment in any such jurisdiction.

 

    	16

    	 

    

 

(b)        To
the fullest extent permitted by law, each of the parties hereto hereby irrevocably consents to the service of process outside the
territorial jurisdiction of such courts in any suit, action or proceeding by giving copies thereof by overnight courier to the
address of such party specified in Section 4.07 and such service of process shall be deemed effective service of process on such
party; provided, however, that the foregoing shall not limit the right of any party to effect service of process
on the other party by any other legally available method.

 

(c)        TO
THE FULLEST EXTENT PERMITTED BY LAW, EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN
ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT.

 

[signature page follows]

 

 

    	17

    	 

    

 

IN WITNESS WHEREOF, the
parties hereto have executed this Agreement on the day and year first above written.

 

	 	VITACOST.COM, INC.
	 	 
	 	By: 	/s/ Stephen E. Markert
	 	Name: Stephen E. Markert
	 	Title: Chief Financial Officer

 

	 	JEFFREY HOROWITZ
	 	 
	 	By: 	/s/ Jeffrey Horowitz
	 	Name: Jeffrey Horowitz
	 	Title:

 

	 	JHH CAPITAL, LLC
	 	 
	 	By: 	/s/ Jeffrey Horowitz
	 	Name: Jeffrey Horowitz
	 	Title: Manager

 

[Signature Pages to Registration Rights Agreement]

 

 

    	 

    	 

    

 

Exhibit A

 

PLAN OF DISTRIBUTION

 

We are registering the
shares of common stock issued to the selling stockholders to permit the resale of these shares of common stock by the selling stockholders
from time to time after the date of this prospectus. We will not receive any of the proceeds from the sale by the selling stockholders
of the shares of common stock. We will bear all fees and expenses incident to our obligation to register the shares of common stock.

 

The selling stockholders
may sell all or a portion of the shares of common stock held by them and offered hereby from time to time directly or through one
or more underwriters, broker-dealers or agents. If the shares of common stock are sold through underwriters or broker-dealers,
the selling stockholders will be responsible for underwriting discounts or commissions or agent’s commissions. The shares
of common stock may be sold in one or more transactions at fixed prices, at prevailing market prices at the time of the sale, at
varying prices determined at the time of sale or at negotiated prices. These sales may be effected in transactions, which may involve
crosses or block transactions, pursuant to one or more of the following methods:

 

		·	on any national securities exchange or quotation service on which the securities may be listed
or quoted at the time of sale;

 

		·	in the over-the-counter market;

 

		·	in transactions otherwise than on these exchanges or systems or in the over-the-counter market;

 

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

 

		·	block trades in which the broker-dealer will attempt to sell the shares 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;

 

		·	broker-dealers may agree with a selling securityholder to sell a specified number of such shares
at a stipulated price per share;

 

		·	a combination of any such methods of sale; and

 

		·	any other method permitted pursuant to applicable law.

 

    	A-1

    	 

    

 

The selling stockholders
may also sell shares of common stock under Rule 144 promulgated under the Securities Act of 1933, as amended, if available, rather
than under this prospectus. In addition, the selling stockholders may transfer the shares of common stock by other means not described
in this prospectus. If the selling stockholders effect such transactions by selling shares of common stock to or through underwriters,
broker-dealers or agents, such underwriters, broker-dealers or agents may receive commissions in the form of discounts, concessions
or commissions from the selling stockholders or commissions from purchasers of the shares of common stock for whom they may act
as agent or to whom they may sell as principal (which discounts, concessions or commissions as to particular underwriters, broker-dealers
or agents may be in excess of those customary in the types of transactions involved).

 

The selling stockholders
may pledge or grant a security interest in some or all of the shares of common stock owned by them and, if they default in the
performance of their secured obligations, the pledgees or secured parties may offer and sell the shares of common stock from time
to time pursuant to this prospectus or any amendment to this prospectus under Rule 424(b)(3) or other applicable provision of the
Securities Act amending, if necessary, the list of selling stockholders to include the pledgee, transferee or other successors
in interest as selling stockholders under this prospectus. The selling stockholders also may transfer and donate the shares of
common stock in other circumstances in which case the transferees, donees, pledgees or other successors in interest will be the
selling beneficial owners for purposes of this prospectus.

 

To the extent required
by the Securities Act and the rules and regulations thereunder, the selling stockholders and any broker-dealer participating in
the distribution of the shares of common stock may be deemed to be “underwriters” within the meaning of the Securities
Act, and any commission paid, or any discounts or concessions allowed to, any such broker-dealer may be deemed to be underwriting
commissions or discounts under the Securities Act. At the time a particular offering of the shares of common stock is made, a prospectus
supplement, if required, will be distributed, which will set forth the aggregate amount of shares of common stock being offered
and the terms of the offering, including the name or names of any broker-dealers or agents, any discounts, commissions and other
terms constituting compensation from the selling stockholders and any discounts, commissions or concessions allowed or re-allowed
or paid to broker-dealers.

 

Under the securities laws
of some states, the shares of common stock may be sold in such states only through registered or licensed brokers or dealers. In
addition, in some states the shares of common stock may not be sold unless such shares have been registered or qualified for sale
in such state or an exemption from registration or qualification is available and is complied with.

 

There can be no assurance
that any selling stockholder will sell any or all of the shares of common stock registered pursuant to the registration statement,
of which this prospectus forms a part.

 

    	A-2

    	 

    

 

The selling stockholders
and any other person participating in such distribution will be subject to applicable provisions of the Securities Exchange Act
of 1934, as amended, and the rules and regulations thereunder, including, without limitation, to the extent applicable, Regulation
M of the Exchange Act, which may limit the timing of purchases and sales of any of the shares of common stock by the selling stockholders
and any other participating person. To the extent applicable, Regulation M may also restrict the ability of any person engaged
in the distribution of the shares of common stock to engage in market-making activities with respect to the shares of common stock.
All of the foregoing may affect the marketability of the shares of common stock and the ability of any person or entity to engage
in market-making activities with respect to the shares of common stock.

 

We will pay all expenses
of the registration of the shares of common stock pursuant to the registration rights agreement, estimated to be $[●] in
total, including, without limitation, Securities and Exchange Commission filing fees and expenses of compliance with state securities
or “blue sky” laws; provided, however, a selling stockholder will pay all underwriting discounts and selling commissions,
if any. We will indemnify the selling stockholders against liabilities, including some liabilities under the Securities Act in
accordance with the registration rights agreements or the selling stockholders will be entitled to contribution. We may be indemnified
by the selling stockholders against civil liabilities, including liabilities under the Securities Act that may arise from any written
information furnished to us by the selling stockholder specifically for use in this prospectus, in accordance with the related
registration rights agreements or we may be entitled to contribution.

 

Once sold under the registration
statement, of which this prospectus forms a part, the shares of common stock will be freely tradable in the hands of persons other
than our affiliates.

 

    	A-3

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