Document:

Cross-Corporate
Continuing Guaranty

 

	Guarantor:	Healthcare Corporation of America, a New Jersey corporation
	 	(New Jersey Entity No. 0100989709) 
	Address:	66 Ford Road, Suite 230, Denville, NJ 07834
	 	 
	Guarantor:	Prescription Corporation of America, a New Jersey corporation
	 	(New Jersey Entity No. 0100988206) 
	Address:	66 Ford Road, Suite 230, Denville, NJ 07834
	 	 
	Guarantor:	PCA Benefits, Inc., a New Jersey corporation
	 	(New Jersey Entity No. 0101011650) 
	Address:	66 Ford Road, Suite 230, Denville, NJ 07834
	 	 
	Date:	December 31, 2013

 

This
Cross-Corporate Continuing Guaranty (“Guaranty”) is executed by the above-named Guarantors as guarantors of
the obligations of Healthcare Corporation of America, a Delaware corporation (“Borrower”) under that certain
Securities Purchase Agreement (as defined below), and of each other Guarantor’s obligations under this Guaranty (except
for a guarantor in respect of itself), and any other persons now or hereafter signatory as a guarantor to this
Guaranty by execution of a counterpart hereof or by an instrument of joinder and accession hereto (individually,
jointly and severally a “Guarantor” and, collectively with all other Guarantors, “Guarantor”), as of
the above date, in favor of Chardan Capital Markets, LLC, as Agent (“Agent”) for the Purchasers (as defined in
the Securities Purchase Agreement). Capitalized terms not defined herein have the meaning set forth in the
Securities Purchase Agreement.

 

1.    Continuing Guaranty.
Each Guarantor, in exchange for good and valuable consideration, hereby jointly and severally unconditionally guarantees and promises
to (a) pay to Agent, for its benefit and the benefit of Purchasers, in lawful money of the United States and to perform for the
benefit of Agent, for its benefit and the benefit of Purchasers, all of Borrower’s present and future Indebtedness (as defined
below) to Agent and the Purchasers, provided that no Guarantor shall be deemed to give a guaranty in respect of itself, and (b) perform
all non-monetary obligations under and arising under the Securities Purchase Agreement applicable to it as if it were a party to
the Securities Purchase Agreement as a Borrower.

 

2.    “Indebtedness.”
As used in this Guaranty, the term "Indebtedness" means (a) any and all present and future payment obligations and
liabilities of Borrower to Agent and Purchasers in connection with that certain Securities Purchase Agreement between Agent, Purchasers
and Borrower of even date herewith (the “Securities Purchase Agreement”), the Note, [the Warrants], the Master Security
Agreement and every other Related Agreement, heretofore, now, or hereafter made, incurred, or created, whether directly to Agent
or any Purchaser or acquired by Agent or any Purchaser by
assignment or otherwise, or held by Agent or any Purchaser on behalf
of others, however arising, whether voluntary or involuntary, due or not
due, absolute or contingent, liquidated or unliquidated, certain or uncertain, determined or undetermined, monetary or nonmonetary,
written or oral, and whether Borrower may be liable individually or jointly with others, and regardless of whether recovery thereon
may be or hereafter become barred by any statute of limitations, discharged or uncollectible in any bankruptcy, insolvency or other
proceeding (other than of a Guarantor in respect of itself), or otherwise unenforceable; and (b) any and all amendments, modifications,
renewals and extensions of any or all of the foregoing, including without limitation amendments, modifications, renewals and extensions
which are evidenced by any new or additional instrument, document or agreement; and (c) any and all attorneys' fees, court
costs, and collection charges incurred in endeavoring to collect or enforce any of the foregoing against Borrower, Guarantor, or
any other person liable thereon (whether or not suit be brought) and any other expenses of, for or incidental to collection thereof.

 

    	 

    	 

    

 

Cross-Corporate
Continuing Guaranty

 

3.    Waivers.
Guarantor hereby waives: (a) presentment for payment, notice of dishonor, demand, protest, and notice thereof as to any instrument,
and all other notices and demands to which Guarantor might be entitled, including without limitation notice of all of the following:
the acceptance hereof; the creation, existence, or acquisition of any Indebtedness; the amount of the Indebtedness from time to
time outstanding; any foreclosure sale or other disposition of any property which secures any or all of the Indebtedness or which
secures the obligations of any other guarantor of any or all of the Indebtedness; any adverse change in Borrower's financial position;
any other fact which might increase Guarantor's risk; any default, partial payment or non-payment of all or any part of the Indebtedness;
the occurrence of any other Event of Default (as hereinafter defined); any and all agreements and arrangements between Agent or
any Purchaser and Borrower and any changes, modifications, or extensions thereof, and any revocation, modification or release of
any guaranty of any or all of the Indebtedness by any person (including without limitation any other person signing this Guaranty);
(b) any right to require Agent to institute suit against, or to exhaust its rights and remedies against, Borrower or any other
person, or to proceed against any property of any kind which secures all or any part of the Indebtedness, or to exercise any right
of offset or other right with respect to any reserves, credits or deposit accounts held by or maintained with Agent or any Purchaser
or any indebtedness of Agent or any Purchaser to Borrower, or to exercise any other right or power, or pursue any other remedy
Agent or any Purchaser may have; (c) any defense arising by reason of any disability or other defense of Borrower or any other
guarantor or any endorser, co-maker or other person (other than payment or performance in full), or by reason of the cessation
from any cause whatsoever of any liability of Borrower or any other guarantor or any endorser, co-maker or other person, with respect
to all or any part of the Indebtedness, or by reason of any act or omission of Agent or any Purchaser or others which directly
or indirectly results in the discharge or release of Borrower or any other guarantor or any other person or any Indebtedness or
any security therefor, whether by operation of law or otherwise; (d) any defense arising by reason of any failure of Agent
to obtain, perfect, maintain or keep in force any security interest in, or lien or encumbrance upon, any property of Borrower or
any other person; (e) any defense based upon any failure of Agent to give Guarantor notice of any sale or other disposition
of any property securing any or all of the Indebtedness, or any defects in any such notice that may be given, or any failure of
Agent to comply with any provision of applicable law in enforcing any security interest in or lien upon any property securing any
or all of the Indebtedness including, but not limited to, any failure by Agent to dispose of any property securing any or all of
the Indebtedness in a commercially reasonable manner; (f) any defense based upon or arising out of any bankruptcy, insolvency,
reorganization, arrangement, readjustment of debt, liquidation or dissolution proceeding commenced by or against Borrower or any
other guarantor or any endorser, co-maker or other person, including without limitation any discharge of, or bar against collecting,
any of the Indebtedness (including without limitation any interest thereon), in or as a result of any such proceeding; and (g) the
benefit of any and all statutes of limitation with respect to any action based upon, arising out of or related to this Guaranty.
Until all of the Indebtedness has been paid, performed, and discharged in full, nothing shall discharge or satisfy the liability
of Guarantor hereunder except the full performance and payment of all of the Indebtedness. If any claim is ever made upon Agent
or any Purchaser for repayment or recovery of any amount or amounts received by Agent or any Purchaser in payment of or on account
of any of the Indebtedness, because of any claim that any such payment constituted a preferential transfer or fraudulent conveyance,
or for any other reason whatsoever, and Agent or any Purchaser repays all or part of said amount by reason of any judgment, decree
or order of any court or administrative body having jurisdiction over Agent or any Purchaser or any of its property, or by reason
of any settlement or compromise of any such claim effected by Agent or any Purchaser with any such claimant (including without
limitation the Borrower), then and in any such event, Guarantor agrees that any such judgment, decree, order, settlement and compromise
shall be binding upon Guarantor, notwithstanding any revocation or release of this Guaranty or the cancellation of any note or
other instrument evidencing any of the Indebtedness, or any release of any of the Indebtedness, and Guarantor shall be and remain
liable to Agent and Purchaser under this Guaranty for the amount so repaid or recovered, to the same extent as if such amount had
never originally been received by Agent or any Purchaser, and the provisions of this sentence shall survive, and continue in effect,
notwithstanding any revocation or release of this Guaranty. Until all of the Indebtedness has been indefeasibly paid and performed
in full, Guarantor hereby expressly and unconditionally agrees not to assert any and all rights of subrogation, reimbursement (other
than reimbursement for ordinary course of business expenses paid on behalf of Borrower and in such case, only when no Event of
Default has occurred and is continuing under the Securities Purchase Agreement) and indemnity of every kind against Borrower, and
all rights of recourse to any assets or property of Borrower, and all rights to any collateral or security held for the payment
and performance of any Indebtedness, including (but not limited to) any of the foregoing rights which Guarantor may have under
any present or future document or agreement with any Borrower or other person, and including (but not limited to) any of the foregoing
rights which Guarantor may have under any equitable doctrine of subrogation, implied contract, or unjust enrichment, or any other
equitable or legal doctrine.

 

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Cross-Corporate
Continuing Guaranty

 

4.    Consents.
Guarantor hereby consents and agrees that, without notice to or by Guarantor and without affecting or impairing in any way the
obligations or liability of Guarantor hereunder, if an Event of Default has occurred and is continuing, Agent may, from time to
time before or after revocation of this Guaranty, do any one or more of the following in Agent's sole and absolute discretion:
(a) accelerate, accept partial payments of, compromise or settle, renew, extend the time for the payment, discharge, or performance
of, refuse to enforce, and release all or any parties to, any or all of the Indebtedness; (b) grant any other indulgence to
Borrower or any other person in respect of any or all of the Indebtedness or any other matter; (c) accept, release, waive,
surrender, enforce, exchange, modify, impair, or extend the time for the performance, discharge, or payment of, any and all property
of any kind securing any or all of the Indebtedness or any guaranty of any or all of the Indebtedness, or on which Agent at any
time may have a lien, or refuse to enforce its rights or make any compromise or settlement or agreement therefor in respect of
any or all of such property; (d) substitute or add, or take any action or omit to take any action which results in the release
of, any one or more endorsers or guarantors of all or any part of the Indebtedness, including, without limitation one or more parties
to this Guaranty, regardless of any destruction or impairment of any right of contribution or other right of Guarantor; (e) amend,
alter or change in any respect whatsoever any term or provision relating to any or all of the Indebtedness, including the rate
of interest thereon; (f) apply any sums received from Borrower, any other guarantor, endorser, or co-signer, or from the disposition
of any collateral or security, to any indebtedness whatsoever owing from such person or secured by such collateral or security,
in such manner and order as Agent determines in its sole discretion, but subject to any restrictions in the Loan Agreement, and
regardless of whether such indebtedness is part of the Indebtedness, is secured, or is due and payable; (g) apply any sums
received from Guarantor or from the disposition of any collateral or security securing the obligations of Guarantor, to any of
the Indebtedness in such manner and order as Agent determines in its sole discretion, regardless of whether or not such Indebtedness
is secured or is due and payable. The foregoing is not intended to impute additional rights and remedies by Agent other than those
already contemplated under the Securities Purchase Agreement, the Note, the Warrants, the Master Security Agreement or any Related
Agreement and applicable law. Guarantor consents and agrees that Agent shall be under no obligation to marshal any assets in favor
of Guarantor, or against or in payment of any or all of the Indebtedness. Guarantor further consents and agrees that Agent shall
have no duties or responsibilities whatsoever with respect to any property securing any or all of the Indebtedness. Without limiting
the generality of the foregoing, Agent shall have no obligation to monitor, verify, audit, examine, or obtain or maintain any insurance
with respect to, any property securing any or all of the Indebtedness.

 

5.    Acceleration.
Notwithstanding the terms of all or any part of the Indebtedness, the obligations of Guarantor hereunder to pay and perform all
of the Indebtedness shall, at the option of Agent, immediately become due and payable, without notice, and without regard to the
expressed maturity of any of the Indebtedness, in the event: (a) Guarantor shall fail to pay or perform when due any of its obligations
under this Guaranty; or (b) upon the occurrence of any “Event of Default” as defined under the Notes beyond any applicable
cure and notice period.

 

6.    Indemnity.
Guarantor hereby agrees to indemnify Agent and each Purchaser and hold Agent and each Purchaser harmless from and against any and
all claims, debts, liabilities, demands, obligations, actions, causes of action, penalties, costs and expenses (including without
limitation attorneys' fees), of every nature, character and description, which Agent or any Purchaser may sustain or incur based
upon or arising out of any of the Indebtedness, any actual or alleged failure to collect and pay over any withholding or other
tax relating to Borrower or its employees, any relationship or agreement between Agent, Purchasers and Borrower, any actual or
alleged failure of Agent to comply with any writ of attachment or other legal process relating to Borrower or any of its property,
or any other matter, cause or thing whatsoever occurred, done, omitted or suffered to be done by Agent relating in any way to Borrower
or the Indebtedness (except any such amounts sustained or incurred as the result of the gross negligence or willful misconduct
of Agent, any Purchaser or any of their directors, officers, employees, agents, attorneys, or any other person affiliated with
or representing Agent or any Purchaser). Notwithstanding any provision in this Guaranty to the contrary, the indemnity agreement
set forth in this Section shall survive any termination or revocation of this Guaranty and shall for all purposes continue in full
force and effect until all Indebtedness is paid.

 

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Cross-Corporate
Continuing Guaranty

 

7.    Subordination.
Except as otherwise expressly specified in the Securities Purchase Agreement, the Note, the Warrants, the Master Security Agreement
and other Related Agreements, any and all rights of Guarantor under any and all debts, liabilities and obligations owing from Borrower
to Guarantor, including any security for any guaranties of any such obligations, whether now existing or hereafter arising, are
hereby subordinated in right of payment to the prior payment in full of all of the Indebtedness (other than reimbursement for ordinary
course of business expenses paid on behalf of Borrower and in such case, only when no Event of Default has occurred and is continuing
under the Loan Agreement). No payment in respect of any such subordinated obligations shall at any time be made to or accepted
by Guarantor if at the time of such payment any Indebtedness is outstanding. If any Event of Default has occurred, Borrower and
any assignee, trustee in bankruptcy, receiver, or any other person having custody or control over any or all of Borrower's property
are hereby authorized and directed to pay to Agent, on behalf of the Purchasers, the entire unpaid balance of the Indebtedness
before making any payments whatsoever to Guarantor, whether as a creditor, shareholder, or otherwise; and insofar as may be necessary
for that purpose, Guarantor hereby assigns and transfers to Agent, for its benefit and for the benefit of the Purchasers, all rights
to any and all debts, liabilities and obligations owing from Borrower to Guarantor, including any security for and guaranties of
any such obligations, whether now existing or hereafter arising, including without limitation any payments, dividends or distributions
out of the business or assets of Borrower. Any amounts received by Guarantor in violation of the foregoing provisions shall be
received and held as trustee for the benefit of Agent and shall forthwith be paid over to Agent to be applied to the Indebtedness
in such order and sequence as Agent shall in its sole discretion determine, without limiting or affecting any other right or remedy
which Agent may have hereunder or otherwise and without otherwise affecting the liability of Guarantor hereunder. Guarantor hereby
expressly waives any right to set-off or assert any counterclaim against Borrower (other than inchoate indemnity obligations).

 

8.    Revocation.
This is a Continuing Guaranty relating to all of the Indebtedness, including Indebtedness arising under successive transactions
which from time to time continue the Indebtedness or renew it after it has been (except inchoate indemnity obligations) performed
and satisfied in full. Without limiting the fact that the termination of this Guaranty as to future transactions constitutes an
Event of Default under the Securities Purchase Agreement, the obligations of Guarantor hereunder may otherwise be terminated only
as to future transactions and only by giving 90 days' advance written notice thereof to Agent at its address above by registered
first-class U.S. mail, postage prepaid, return receipt requested, provided such termination shall not be effective until 91 days
following the date of actual receipt of such advance written notice. Notwithstanding such revocation as to future transactions,
this Guaranty and all consents, waivers and other provisions hereof shall continue in full force and effect as to any and all Indebtedness
which is outstanding on the effective date of revocation and all extensions, renewals and modifications of said Indebtedness (including
without limitation amendments, extensions, renewals and modifications which are evidenced by new or additional instruments, documents
or agreements executed after revocation), and all interest thereon, then and thereafter accruing, and all reasonable attorneys'
fees, court costs and collection charges theretofore and thereafter incurred in endeavoring to collect or enforce any of the foregoing
against Borrower, Guarantor or any other person liable thereon (whether or not suit be brought) and any other expenses of, for
or incidental to collection thereof.

 

9.    Independent Liability.
Guarantor hereby agrees that one or more successive or concurrent actions may be brought hereon against Guarantor, in the same
action in which Borrower may be sued or in separate actions, as often as deemed advisable by Agent. The liability of Guarantor
hereunder is exclusive and independent of any other guaranty of any or all of the Indebtedness whether executed by Guarantor or
by any other guarantor (including without limitation any other persons signing this Guaranty). The liability of Guarantor hereunder
shall not be affected, revoked, impaired, or reduced by any one or more of the following: (a) the fact that the Indebtedness
exceeds the maximum amount of Guarantor's liability, if any, specified herein or elsewhere (and no agreement specifying a maximum
amount of Guarantor's liability shall be enforceable unless set forth in a writing signed by Agent or set forth in this Guaranty);
or (b) any direction as to the application of payment by Borrower or by any other party; or (c) any other continuing
or restrictive guaranty or undertaking or any limitation on the liability of any other guarantor (whether under this Guaranty or
under any other agreement); or (d) any payment on or reduction of any such other guaranty or undertaking; or (e) any
revocation, amendment, modification or release of any such other guaranty or undertaking; or (f) any dissolution or termination
of, or increase, decrease, or change in membership of any Guarantor which is a partnership. Guarantor hereby expressly represents
that it was not induced to give this Guaranty by the fact that there are or may be other guarantors either under this Guaranty
or otherwise, and Guarantor agrees that any release of any one or more of such other guarantors shall not release Guarantor from
its obligations hereunder either in full or to any lesser extent.

 

10.     Financial Condition of Borrower.
Guarantor is fully aware of the financial condition of Borrower and is executing and delivering this Guaranty at Borrower's request
and based solely upon its own independent investigation of all matters pertinent hereto, and Guarantor is not relying in any manner
upon any representation or statement of Agent or any Purchaser with respect thereto. Guarantor represents and warrants that it
is in a position to obtain, and Guarantor hereby assumes full responsibility for obtaining, any additional information concerning
Borrower's financial condition and any other matter pertinent hereto as Guarantor may desire, and Guarantor is not relying upon
or expecting Agent or any Purchaser to furnish to him any information now or hereafter in Agent’s or any Purchaser’s
possession concerning the same or any other matter.

 

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Cross-Corporate
Continuing Guaranty

 

11.    Representations and Warranties.
In order to induce the Purchasers to enter into the Securities Purchase Agreement with Borrower, and to make a loan to Borrower
that will directly and indirectly benefit each Guarantor, each Guarantor represents and warrants to Agent as follows, and each
Guarantor covenants that the following representations will continue to be true, and that Guarantor will at all times comply with
all of the following covenants, throughout the term of this Agreement and until all Obligations have been paid and performed in
full: (a) Guarantor is and will continue to be, duly organized, validly existing and in good standing under the laws of the jurisdiction
of its incorporation and is and will continue to be qualified and licensed to do business in all jurisdictions in which any failure
to do so would result in a Material Adverse Change; (b) the execution, delivery and performance by Guarantor of this Agreement,
and all other documents contemplated hereby (i) have been duly and validly authorized, (ii) are enforceable against Guarantor in
accordance with their terms (except as enforcement may be limited by equitable principles and by bankruptcy, insolvency, reorganization,
moratorium or similar laws relating to creditors' rights generally), and (iii) do not violate Guarantor’s articles or certificate
of incorporation, or Guarantor’s by-laws or other constitutional documents or instrument, or any law or any material agreement
or instrument which is binding upon Guarantor or its property, (iv) do not constitute grounds for acceleration of any material
indebtedness or obligation under any agreement or instrument which is binding upon Guarantor or its property, and (v) the person
executing this Guaranty on behalf of each Guarantor is a duly-authorized and empowered officer or agent of each such Guarantor;
and (c) it is in Guarantor's direct interest to assist Borrower in procuring
credit, because Borrower is an affiliate of Guarantor, furnishes goods or services to Guarantor, purchases or acquires goods or
services from Guarantor, and/or otherwise has a direct or indirect corporate or business relationship with Guarantor. 

 

12. Costs; Interest.
Whether or not suit be instituted, Guarantor agrees to reimburse Agent on demand for all out-of-pocket reasonable attorneys' fees
and all other out-of-pocket reasonable costs and expenses incurred by Agent in enforcing this Guaranty, or arising out of or relating
in any way to this Guaranty, or in enforcing any of the Indebtedness against Borrower, Guarantor, or any other person, or in connection
with any property of any kind of Guarantor securing all or any part of the Indebtedness. Without limiting the generality of the
foregoing, and in addition thereto, Guarantor shall reimburse Agent on demand for all out-of-pocket reasonable attorneys' fees
and costs Agent incurs in any way relating to Guarantor, Borrower or the Indebtedness, in order to: obtain legal advice; enforce
or seek to enforce any of its rights; commence, intervene in, respond to, or defend any action or proceeding; file, prosecute or
defend any claim or cause of action in any action or proceeding (including without limitation any probate claim, bankruptcy claim,
third-party claim, secured creditor claim, reclamation complaint, and complaint for relief from any stay under the Bankruptcy Code
or similar legislation in any other jurisdiction or otherwise); protect, obtain possession of, sell, lease, dispose of or otherwise
enforce any security interest in or lien on any property of any kind securing any or all of the Indebtedness; or represent Agent
in any litigation with respect to Borrower's or Guarantor's affairs. In the event either Agent or Guarantor files any lawsuit against
the other predicated on a breach of this Guaranty, the prevailing party in such action shall be entitled to recover its attorneys'
fees and costs of suit from the non-prevailing party. All sums due under this Guaranty shall bear interest from the date due until
the date paid at the highest rate charged with respect to any of the Indebtedness.

 

13.    Notices.
Any notice which a party shall be required or shall desire to give to the other hereunder (except for notice of revocation, which
shall be governed by Section 8 of this Guaranty) shall be given by personal delivery or by telecopier or by depositing the same
in the United States mail, first class postage pre-paid, addressed to Agent at its address set forth in the heading of this Guaranty
and to Guarantor at its address provided by Guarantor to Agent in writing, and such notices shall be deemed duly given on the date
of personal delivery or one day after the date telecopied or 3 business days after the date of mailing as aforesaid. Agent and
Guarantor may change their address for purposes of receiving notices hereunder by giving written notice thereof to the other party
in accordance herewith. Guarantor shall give Agent immediate written notice of any change in its address.

 

14.    Construction; Severability.
The term "Guarantor" as used herein shall be deemed to refer to all and any one or more such persons and their obligations
hereunder shall be joint and several. As used in this Guaranty, the term "property" is used in its most comprehensive
sense and shall mean all property of every kind and nature whatsoever, including without limitation real property, personal property,
mixed property, tangible property and intangible property. If any provision of this Guaranty or the application thereof to any
party or circumstance is held invalid, void, inoperative or unenforceable as against any Guarantor, the remainder of this Guaranty
and the application of such provision to other Guarantors or circumstances shall not be affected thereby, the provisions of this
Guaranty being severable in any such instance.

 

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Cross-Corporate
Continuing Guaranty

 

15.    General Provisions.
Agent, on behalf of the Purchasers, shall have the right to seek recourse against Guarantor to the full extent provided for
herein and in any other instrument or agreement evidencing obligations of Guarantor to Agent and the Purchasers, and against Borrower
to the full extent of the Indebtedness. No election in one form of action or proceeding, or against any party, or on any obligation,
shall constitute a waiver of Agent's right to proceed in any other form of action or proceeding or against any other party. The
failure of Agent to enforce any of the provisions of this Guaranty at any time or for any period of time shall not be construed
to be a waiver of any such provision or the right thereafter to enforce the same. All remedies hereunder shall be cumulative and
shall be in addition to all rights, powers and remedies given to Agent by law or under any other instrument or agreement. Time
is of the essence in the performance by Guarantor of each and every obligation under this Guaranty. Agent shall have no obligation
to inquire into the power or authority of Borrower or any of its officers, directors, employees, or agents acting or purporting
to act on its behalf, and any Indebtedness made or created in reliance upon the professed exercise of any such power or authority
shall be included in the Indebtedness guaranteed hereby. This Guaranty is the entire and only agreement between Guarantor and Agent
and the Purchasers with respect to the guaranty of the Indebtedness of Borrower by Guarantor, and all representations, warranties,
agreements, or undertakings heretofore or contemporaneously made, which are not set forth herein, are superseded hereby. No course
of dealings between the parties, no usage of the trade, and no parol or extrinsic evidence of any nature shall be used or be relevant
to supplement or explain or modify any term or provision of this Guaranty. There are no conditions to the full effectiveness of
this Guaranty. The terms and provisions hereof may not be waived, altered, modified, or amended except in a writing executed by
Guarantor and a duly authorized officer of Agent. All rights, benefits and privileges hereunder shall inure to the benefit of and
be enforceable by Agent and its successors and assigns and shall be binding upon Guarantor and its successors and assigns. Section
headings are used herein for convenience only. Guarantor acknowledges that the same may not describe completely the subject matter
of the applicable Section, and the same shall not be used in any manner to construe, limit, define or interpret any term or provision
hereof.

 

16.    Governing Law; Venue and Jurisdiction.
This instrument and all acts and transactions pursuant or relating hereto and all rights and obligations of the parties hereto
shall be governed, construed, and interpreted in accordance with the internal laws of the State of New York. In order to induce
Agent to accept this Guaranty, and as a material part of the consideration therefor, Guarantor (i) agrees that all actions
or proceedings relating directly or indirectly hereto shall, at the option of Agent, be litigated in courts located within New
York County, New York, (ii) consents to the jurisdiction of any such court and consents to the service of process in any such
action or proceeding by personal delivery or any other method permitted by law; and (iii) waives any and all rights Guarantor
may have to transfer or change the venue of any such action or proceeding.

 

17.    Receipt
of Copy. Guarantor acknowledges receipt of a copy of this Guaranty.

 

18.    Mutual Waiver
of Right to Jury Trial. AGENT and GUARANTOR hereby waive the right to trial by jury in
any action, claim, lawsuit or proceeding based upon, arising out of, or in any way relating to: (i)
this Guarantee or any supplement or amendment thereto; or (ii) any other present
or future instrument or agreement between AGENT, THE PURCHASERS and GUARANTOR; or (iii)
any breach, conduct, acts or omissions of AGENT or GUARANTOR or any of their respective directors, officers, employees, agents,
attorneys or any other person affiliated with or representing AGENT or GUARANTOR WITH RESPECT TO THIS GUARANTY OR ANY OTHER RELATED
AGREEMENT; in each of the foregoing cases, whether sounding in contract or tort or otherwise. .

 

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	Guarantor:	 
	Healthcare Corporation of America	 
	 	 
	By: 	/s/ Yoram Bibring	 
	 	 	 
	Name: 	Yoram Bibring	 
	 	 	 
	Title: 	Chief Financial Officer	 

 

	Guarantor:	 	Guarantor:
	PCA BENEFITS, INC.	 	PRESCRIPTION Corporation of America
	 	 	 	 
	By: 	/s/ Yoram Bibring	 	By: 	/s/ Yoram Bibring
	 	 	 	 	 
	Name: 	Yoram Bibring	 	Name: 	Yoram Bibring
	 	 	 	 	 
	Title: 	Chief Financial Officer	 	Title: 	Chief Financial Officer

 

Cross-Corporate Continuing
Guaranty Signature PageREGISTRATION RIGHTS AGREEMENT

 

This REGISTRATION
RIGHTS AGREEMENT (this “Agreement”), dated as of December 31, 2013, is by and among Healthcare Corporation
of America, Inc., a Delaware corporation (the “Company”), and each of the undersigned buyers (each, a “Buyer,”
and collectively, the “Buyers”).

 

RECITALS

 

A.           In
connection with the Securities Purchase Agreement by and among the parties hereto, dated the date hereof (the “Securities
Purchase Agreement”), the Company has agreed, upon the terms and subject to the conditions of the Securities Purchase
Agreement, to issue and sell to each Buyer (i) the Notes (as defined in the Securities Purchase Agreement), which will be convertible
into Note Shares (as defined in the Securities Purchase Agreement) in accordance with the terms of the Notes and (ii) the Warrants
(as defined in the Securities Purchase Agreement), which will be exercisable to purchase Warrant Shares (as defined in the Securities
Purchase Agreement) in accordance with the terms of the Warrants.

 

B.           To
induce the Buyers to consummate the transactions contemplated by the Securities Purchase Agreement, the Company has agreed to provide
certain registration rights under the Securities Act of 1933, as amended, and the rules and regulations thereunder, or any similar
successor statute (collectively, the “1933 Act”), and applicable state securities laws.

 

AGREEMENT

 

NOW, THEREFORE,
in consideration of the premises and the mutual covenants contained herein and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the Company and each of the Buyers hereby agree as follows:

 

1.          Definitions.

 

Capitalized terms used
herein and not otherwise defined herein shall have the respective meanings set forth in the Securities Purchase Agreement. As used
in this Agreement, the following terms shall have the following meanings:

 

(a)          “Business
Day” means any day other than Saturday, Sunday or any other day on which commercial banks in New York, New York are authorized
or required by law to remain closed.

 

(b)          “Closing
Date” shall have the meaning set forth in the Securities Purchase Agreement.

 

(c)          
“Effective Date” means the date that the applicable Registration Statement has been declared effective by the
SEC.

 

(d)          “Effectiveness
Deadline” means with respect to any Registration Statements that may be required to be filed by the Company pursuant
to this Agreement, the earlier of the (i) 90th calendar day following the date on which the Company was required to
file such Registration Statement and (ii) 2nd Business Day after the date the Company is notified (orally or in writing,
whichever is earlier) by the SEC that such Registration Statement will not be reviewed or will not be subject to further review.

 

    	 

    	 

    

 

(e)          “Filing
Deadline” means a date no later than ten business days following the filing with the Commission of the Company’s
annual or quarterly report for the period ending December 31, 2013 (or, if the Company does not file a report for such period,
the report for the period ending closest to December 31, 2013), but in no event later than April 14, 2014.

 

(f)          “Investor”
means a Buyer or any transferee or assignee of any Registrable Securities, Notes or Warrants, as applicable, to whom a Buyer assigns
its rights under this Agreement and who agrees to become bound by the provisions of this Agreement in accordance with Section 9
and any transferee or assignee thereof to whom a transferee or assignee of any Registrable Securities, Notes or Warrants, as applicable,
assigns its rights under this Agreement and who agrees to become bound by the provisions of this Agreement in accordance with Section
9.

 

(g)          “Legal
Counsel” means Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, P.C.

 

(h)          “Person”
means an individual, a limited liability company, a partnership, a joint venture, a corporation, a trust, an unincorporated organization
or a government or any department or agency thereof.

 

(i)          “register,”
“registered,” and “registration” refer to a registration effected by preparing and filing
one or more Registration Statements in compliance with the 1933 Act and pursuant to Rule 415 and the declaration of effectiveness
of such Registration Statement(s) by the SEC.

 

(j)          “Registrable
Securities” means (i) the Note Shares, (ii) the Warrant Shares and (iii) any capital stock of the Company issued or issuable
with respect to the Note Shares, the Warrant Shares, the Notes or the Warrants, including, without limitation, (1) as a result
of any stock split, stock dividend, recapitalization, exchange or similar event or otherwise and (2) shares of capital stock of
the Company into which the shares of Common Stock (as defined in the Securities Purchase Agreement) are converted or exchanged
and shares of capital stock of a Successor Entity (as defined in the Warrants) into which the shares of Common Stock are converted
or exchanged, in each case, without regard to any limitations on conversion of the Notes or exercise of the Warrants.

 

(k)          “Registration
Statement” means a registration statement or registration statements of the Company filed under the 1933 Act covering
Registrable Securities.

 

(l)          “Required
Holders” means the holders of at least a majority of the Registrable Securities.

 

(m)          “Required
Registration Amount” means 125% of the sum of (i) the maximum number of Note Shares issued and issuable pursuant to the
Notes and (ii) the maximum number of Warrant Shares issued and issuable pursuant to the Warrants, in each case, as of the Trading
Day (as defined in the Warrants) immediately preceding the applicable date of determination (without taking into account any limitations
on the conversion of the Notes or the exercise of the Warrants set forth therein), all subject to adjustment as provided in Section
2(d).

 

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(n)          “Rule
144” means Rule 144 promulgated by the SEC under the 1933 Act, as such rule may be amended from time to time, or any
other similar or successor rule or regulation of the SEC that may at any time permit the Investors to sell securities of the Company
to the public without registration.

 

(o)          “Rule
415” means Rule 415 promulgated by the SEC under the 1933 Act, as such rule may be amended from time to time, or any
other similar or successor rule or regulation of the SEC providing for offering securities on a continuous or delayed basis.

 

(p)          “SEC”
means the United States Securities and Exchange Commission or any successor thereto.

 

2.            Registration.

 

(a)          Mandatory
Registration. The Company shall prepare and, as soon as practicable, but in no event later than the Filing Deadline, file with
the SEC an initial Registration Statement on Form S-1 covering the resale of all of the Registrable Securities; provided that such
initial Registration Statement shall register for resale at least the number of shares of Common Stock equal to the Required Registration
Amount as of the date such Registration Statement is initially filed with the SEC; and provided further that the Company shall
use such other form as is required by Section 2(c) once the Company becomes eligible to use such form. Such initial Registration
Statement, and each other Registration Statement required to be filed pursuant to the terms of this Agreement, shall contain (except
if otherwise directed by the Required Holders) the “Selling Stockholders” and “Plan of Distribution”
sections in substantially the form attached hereto as Exhibit B. The Company shall use its best efforts to have such
initial Registration Statement, and each other Registration Statement required to be filed pursuant to the terms of this Agreement,
declared effective by the SEC as soon as practicable, but in no event later than the applicable Effectiveness Deadline for such
Registration Statement.

 

(b)          Intentionally
Omitted.

 

(c)          Use
of Form S-3. As of the date of this Agreement, the Company is eligible to use Form S-1 for the registration of the resale of
Registrable Securities hereunder, but the Company is not eligible to use Form S-3 for such purpose. In the event that the Company
becomes eligible to use Form S-3 for the registration of the resale of Registrable Securities hereunder, the Company shall undertake
to register the resale of the Registrable Securities on Form S-3 as soon as such form is available, provided that the Company shall
maintain the effectiveness of all Registration Statements then in effect until such time as a Registration Statement on Form S-3
covering the resale of all the Registrable Securities has been declared effective by the SEC.

 

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(d)          Sufficient
Number of Shares Registered. In the event the number of shares available under any Registration Statement is insufficient to
cover all of the Registrable Securities required to be covered by such Registration Statement or an Investor’s allocated
portion of the Registrable Securities pursuant to Section 2(g), the Company shall amend such Registration Statement (if permissible),
or file with the SEC a new Registration Statement (on the short form available therefor, if applicable), or both, so as to cover
at least the Required Registration Amount as of the Trading Day immediately preceding the date of the filing of such amendment
or new Registration Statement, in each case, as soon as practicable, but in any event not later than thirty (30) days after the
necessity therefor arises (but taking account of any Staff position with respect to the date on which the Staff will permit such
amendment to the Registration Statement and/or such new Registration Statement (as the case may be) to be filed with the SEC).
The Company shall use its best efforts to cause such amendment to such Registration Statement and/or such new Registration Statement
(as the case may be) to become effective as soon as practicable following the filing thereof with the SEC, but in no event later
than the applicable Effectiveness Deadline for such Registration Statement. For purposes of the foregoing provision, the number
of shares available under a Registration Statement shall be deemed “insufficient to cover all of the Registrable Securities”
if at any time the number of shares of Common Stock available for resale under the applicable Registration Statement is less than
the product determined by multiplying (x) the Required Registration Amount as of such time by (y) 0.90. The calculation set forth
in the foregoing sentence shall be made without regard to any limitations on (i) conversion of the Notes (and such calculation
shall assume that the Notes are then fully convertible into shares of Common Stock at the then-prevailing applicable Conversion
Price) and (ii) exercise of the Warrants (and such calculation shall assume that the Warrants are then fully exercisable for shares
of Common Stock at the then-prevailing applicable Exercise Price).

 

(e)          Effect
of Failure to File and Obtain and Maintain Effectiveness of any Registration Statement. If (i) a Registration Statement covering
the resale of all of the Registrable Securities required to be covered thereby (disregarding any reduction pursuant to Section
2(f)) and required to be filed by the Company pursuant to this Agreement is (A) not filed with the SEC on or before the Filing
Deadline for such Registration Statement (a “Filing Failure”) (it being understood that if the Company files
a Registration Statement without affording each Investor the opportunity to review and comment on the same as required by Section
3(c) hereof, the Company shall be deemed to not have satisfied this clause (i)(A) and such event shall be deemed to be a Filing
Failure) or (B) not declared effective by the SEC on or before the Effectiveness Deadline for such Registration Statement (an “Effectiveness
Failure”) (it being understood that if on the Business Day immediately following the Effective Date for such Registration
Statement the Company shall not have filed a “final” prospectus for such Registration Statement with the SEC under
Rule 424(b) in accordance with Section 3(b) (whether or not such a prospectus is technically required by such rule), the Company
shall be deemed to not have satisfied this clause (i)(B) and such event shall be deemed to be an Effectiveness Failure), (ii) other
than during an Allowable Grace Period (as defined below), on any day after the Effective Date of a Registration Statement, sales
of all of the Registrable Securities required to be included on such Registration Statement (disregarding any reduction pursuant
to Section 2(f)) cannot be made pursuant to such Registration Statement (including, without limitation, because of a failure to
keep such Registration Statement effective, a failure to disclose such information as is necessary for sales to be made pursuant
to such Registration Statement, a suspension or delisting of (or a failure to timely list) the shares of Common Stock on an Eligible
Market (as defined in the Securities Purchase Agreement), or a failure to register a sufficient number of shares of Common Stock
or by reason of a stop order) or the prospectus contained therein is not available for use for any reason (a “Maintenance
Failure”), or (iii) at any time after the Filing Deadline when a Registration Statement is not effective for any reason
or the prospectus contained therein is not available for use for any reason, the Company fails to file with the SEC any required
reports under Section 13 or 15(d) of the 1934 Act such that it is not in compliance with Rule 144(c)(1) (or Rule 144(i)(2), if
applicable) (a “Current Public Information Failure”) as a result of which any of the Investors are unable to
sell Registrable Securities without restriction under Rule 144 (including, without limitation, volume restrictions), then, as partial
relief for the damages to any holder by reason of any such delay in, or reduction of, its ability to sell the underlying shares
of Common Stock (which remedy shall not be exclusive of any other remedies available at law or in equity), the Company shall pay
to each holder of Registrable Securities relating to such Registration Statement an amount in cash equal to one percent (1%) of
such Investor’s original principal amount stated in such Investor’s Note on the Closing Date (1) on the date of such
Filing Failure, Effectiveness Failure, Maintenance Failure or Current Public Information Failure, as applicable, and (2) on every
thirty (30) day anniversary of (I) a Filing Failure until such Filing Failure is cured; (II) an Effectiveness Failure until such
Effectiveness Failure is cured; (III) a Maintenance Failure until such Maintenance Failure is cured; and (IV) a Current Public
Information Failure until the earlier of (i) the date such Current Public Information Failure is cured and (ii) such time that
such public information is no longer required pursuant to Rule 144 (in each case, pro rated for periods totaling less than thirty
(30) days). The payments to which a holder of Registrable Securities shall be entitled pursuant to this Section 2(e) are referred
to herein as “Registration Delay Payments.” Following the initial Registration Delay Payment for any particular
event or failure (which shall be paid on the date of such event or failure, as set forth above), without limiting the foregoing,
if an event or failure giving rise to the Registration Delay Payments is cured prior to any thirty (30) day anniversary of such
event or failure, then such Registration Delay Payment shall be made on the third (3rd) Business Day after such cure.
In the event the Company fails to make Registration Delay Payments in a timely manner in accordance with the foregoing, such Registration
Delay Payments shall bear interest at the rate of one and one-half percent (1.5%) per month (prorated for partial months) until
paid in full. Notwithstanding the foregoing, no Registration Delay Payments shall be owed to an Investor (other than with respect
to a Maintenance Failure resulting from a suspension of listing or quotation or delisting of (or a failure to timely list or quote)
the shares of Common Stock on the Principal Market) with respect to any period during which all of such Investor’s Registrable
Securities may be sold by such Investor without restriction under Rule 144 (including, without limitation, volume restrictions)
and without the need for current public information required by Rule 144(c)(1) (or Rule 144(i)(2), if applicable). Notwithstanding
the foregoing, no Registration Delay Payments shall be owed to an Investor with respect to any period dring which Legal Counsel
has not provided final approval or any mateirals being reviewed by it in accordance with Section 3(c).

 

    	4

    	 

    

 

(f)          Offering.
Notwithstanding anything to the contrary contained in this Agreement, but subject to the payment of the Registration Delay Payments
pursuant to Section 2(e), in the event the staff of the SEC (the “Staff”) or the SEC seeks to characterize any offering
pursuant to a Registration Statement filed pursuant to this Agreement as constituting an offering of securities by, or on
behalf of, the Company, or in any other manner, such that the Staff or the SEC do not permit such Registration Statement
to become effective and used for resales in a manner that does not constitute such an offering and that permits the continuous
resale at the market by the Investors participating therein (or as otherwise may be acceptable to each Investor) without
being named therein as an “underwriter,” then the Company shall reduce the number of shares to be included in such
Registration Statement by all Investors until such time as the Staff and the SEC shall so permit such Registration Statement
to become effective as aforesaid. In making such reduction, the Company shall reduce the number of shares to be included by
all Investors on a pro rata basis (based upon the number of Registrable Securities otherwise required to be included for each Investor)
unless the inclusion of shares by a particular Investor or a particular set of Investors are resulting in the Staff or the SEC’s “by
or on behalf of the Company” offering position, in which event the shares held by such Investor or set of Investors shall
be the only shares subject to reduction (and if by a set of Investors on a pro rata basis by such Investors or on such other basis
as would result in the exclusion of the least number of shares by all such Investors).  In addition, in the event that the
Staff or the SEC requires any Investor seeking to sell securities under a Registration Statement filed pursuant to this Agreement to
be specifically identified as an “underwriter” in order to permit such Registration Statement to become effective,
and such Investor does not consent to being so named as an underwriter in such Registration Statement, then, in each such
case, the Company shall reduce the total number of Registrable Securities to be registered on behalf of such Investor, until
such time as the Staff or the SEC does not require such identification or until such Investor accepts such identification and the
manner thereof. Any reduction pursuant to this paragraph will first reduce all securities that are not Registrable Securities,
if any such securities are permitted by the Required Holders to be included in accordance with the terms of this Agreement. In
the event of any reduction in Registrable Securities pursuant to this paragraph, an affected Investor shall have the
right to require, upon delivery of a written request to the Company signed by such Investor, the Company to file a registration
statement within thirty (30) calendar days of such request (subject to any restrictions imposed by Rule 415 or required by
the Staff or the SEC) for resale by such Investor in a manner acceptable to such Investor, and the Company shall following
such request cause to be and keep effective such registration statement in the same manner as otherwise contemplated in
this Agreement for registration statements hereunder, in each case, until such time as: (i) all Registrable Securities held
by such Investor have been registered and sold pursuant to an effective Registration Statement in a manner acceptable to such
Investor or (ii) all Registrable Securities may be resold by such Investor without restriction (including, without limitation,
volume limitations) pursuant to Rule 144 (taking account of any Staff position with respect to “affiliate” status)
and without the need for current public information required by Rule 144(c)(1) (or Rule 144(i)(2), if applicable) or (iii) such
Investor agrees to be named as an underwriter in any such Registration Statement in a manner acceptable to such Investor as to
all Registrable Securities held by such Investor and that have not theretofore been included in a Registration Statement under
this Agreement (it being understood that the special demand right under this sentence may be exercised by an Investor multiple
times and with respect to limited amounts of Registrable Securities in order to permit the resale thereof by such Investor as contemplated
above).

 

    	5

    	 

    

 

(g)          Allocation
of Registrable Securities. The initial number of Registrable Securities included in any Registration Statement and any increase
in the number of Registrable Securities included therein shall be allocated pro rata among the Investors based on the number of
Registrable Securities held by each Investor at the time such Registration Statement covering such initial number of Registrable
Securities or increase thereof is declared effective by the SEC. In the event that an Investor sells or otherwise transfers any
of such Investor’s Registrable Securities, each transferee or assignee (as the case may be) that becomes an Investor shall
be allocated a pro rata portion of the then-remaining number of Registrable Securities included in such Registration Statement
for such transferor or assignee (as the case may be). Any shares of Common Stock included in a Registration Statement and which
remain allocated to any Person which ceases to hold any Registrable Securities covered by such Registration Statement shall be
allocated to the remaining Investors, pro rata based on the number of Registrable Securities then held by such Investors which
are covered by such Registration Statement.

 

3.          Related
Obligations.

 

The Company shall use
its best efforts to effect the registration of the Registrable Securities in accordance with the intended method of disposition
thereof, and, pursuant thereto, the Company shall have the following obligations:

 

(a)          The
Company shall promptly prepare and file with the SEC a Registration Statement with respect to all the Registrable Securities (but
in no event later than the applicable Filing Deadline) and use its best efforts to cause such Registration Statement to become
effective as soon as practicable after such filing (but in no event later than the Effectiveness Deadline). Subject to Allowable
Grace Periods, the Company shall keep each Registration Statement effective (and the prospectus contained therein available for
use) pursuant to Rule 415 for resales by the Investors on a delayed or continuous basis at then-prevailing market prices (and not
fixed prices) at all times until the earlier of (i) the date as of which all of the Investors may sell all of the Registrable Securities
required to be covered by such Registration Statement (disregarding any reduction pursuant to Section 2(f)2(f)) without restriction
pursuant to Rule 144 (including, without limitation, volume restrictions) and without the need for current public information required
by Rule 144(c)(1) (or Rule 144(i)(2), if applicable) or (ii) the date on which the Investors shall have sold all of the Registrable
Securities covered by such Registration Statement (the “Registration Period”). Notwithstanding anything to the
contrary contained in this Agreement, the Company shall ensure that, when filed and at all times while effective, each Registration
Statement (including, without limitation, all amendments and supplements thereto) and the prospectus (including, without limitation,
all amendments and supplements thereto) used in connection with such Registration Statement (1) shall not contain any untrue statement
of a material fact or omit to state a material fact required to be stated therein, or necessary to make the statements therein
(in the case of prospectuses, in the light of the circumstances in which they were made) not misleading and (2) will disclose (whether
directly or through incorporation by reference to other SEC filings to the extent permitted) all material information regarding
the Company and its securities. The Company shall submit to the SEC, within one (1) Business Day after the later of the date that
(i) the Company learns that no review of a particular Registration Statement will be made by the Staff or that the Staff has no
further comments on a particular Registration Statement (as the case may be) and (ii) the consent of Legal Counsel is obtained
pursuant to Section 3(c) (which consent shall be immediately sought), a request for acceleration of effectiveness of such Registration
Statement to a time and date not later than forty-eight (48) hours after the submission of such request.

 

    	6

    	 

    

 

(b)          Subject
to Section 3(r) of this Agreement, the Company shall prepare and file with the SEC such amendments (including, without limitation,
post-effective amendments) and supplements to each Registration Statement and the prospectus used in connection with each such
Registration Statement, which prospectus is to be filed pursuant to Rule 424 promulgated under the 1933 Act, as may be necessary
to keep each such Registration Statement effective at all times during the Registration Period for such Registration Statement,
and, during such period, comply with the provisions of the 1933 Act with respect to the disposition of all Registrable Securities
of the Company required to be covered by such Registration Statement until such time as all of such Registrable Securities shall
have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof as set forth in such
Registration Statement; provided, however, by 8:30 a.m. (New York time) on the Business Day immediately following each Effective
Date, the Company shall file with the SEC in accordance with Rule 424(b) under the 1933 Act the final prospectus to be used in
connection with sales pursuant to the applicable Registration Statement (whether or not such a prospectus is technically required
by such rule). In the case of amendments and supplements to any Registration Statement which are required to be filed pursuant
to this Agreement (including, without limitation, pursuant to this Section 3(b)) by reason of the Company filing a report on Form
10-Q or Form 10-K or any analogous report under the Securities Exchange Act of 1934, as amended (the “1934 Act”),
the Company shall have incorporated such report by reference into such Registration Statement, if applicable, or shall file such
amendments or supplements with the SEC on the same day on which the 1934 Act report is filed which created the requirement for
the Company to amend or supplement such Registration Statement.

 

(c)          The
Company shall (A) permit Legal Counsel to review and provide comments to the Company and its legal counsel with respect to (i)
each Registration Statement at least five (5) Business Days prior to its filing with the SEC and (ii) all amendments and supplements
to each Registration Statement (including, without limitation, the prospectus contained therein) (except for Annual Reports on
Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and any similar or successor reports) within a reasonable
number of days prior to their filing with the SEC, and (B) not file any Registration Statement or amendment or supplement thereto
in a form to which Legal Counsel reasonably objects. The Company shall not submit a request for acceleration of the effectiveness
of a Registration Statement or any amendment or supplement thereto or to any prospectus contained therein without the prior consent
of Legal Counsel, which consent shall not be unreasonably withheld. The Company shall promptly furnish to Legal Counsel, without
charge, (i) copies of any correspondence from the SEC or the Staff to the Company or its representatives relating to each Registration
Statement, provided that such correspondence shall not contain any material, non-public information regarding the Company or any
of its Subsidiaries (as defined in the Securities Purchase Agreement), (ii) after the same is prepared and filed with the
SEC, one (1) copy of each Registration Statement and any amendment(s) and supplement(s) thereto, including, without limitation,
financial statements and schedules, all documents incorporated therein by reference, if requested by an Investor, and all exhibits
(unless such Registration Statement is available on EDGAR) and (iii) upon the effectiveness of each Registration Statement,
one (1) copy of the prospectus included in such Registration Statement and all amendments and supplements thereto. The Company
shall reasonably cooperate with Legal Counsel in performing the Company’s obligations pursuant to this Section 3.

 

(d)          The
Company shall promptly furnish to each Investor whose Registrable Securities are included in any Registration Statement, without
charge, (i) after the same is prepared and filed with the SEC, at least one (1) copy of each Registration Statement and any amendment(s)
and supplement(s) thereto, including, without limitation, financial statements and schedules, all documents incorporated therein
by reference, if requested by an Investor, all exhibits and each preliminary prospectus (unless such Registration Statement is
available on EDGAR), (ii) upon the effectiveness of each Registration Statement, ten (10) copies of the prospectus included in
such Registration Statement and all amendments and supplements thereto (unless such Registration Statement is available on EDGAR)
and (iii) such other documents, including, without limitation, copies of any preliminary or final prospectus, as such Investor
may reasonably request from time to time in order to facilitate the disposition of the Registrable Securities owned by such Investor.

 

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(e)          The
Company shall use its reasonable best efforts to (i) register and qualify, unless an exemption from registration and qualification
applies, the resale by Investors of the Registrable Securities covered by a Registration Statement under such other securities
or “blue sky” laws of all applicable jurisdictions in the United States, (ii) prepare and file in those jurisdictions,
such amendments (including, without limitation, post-effective amendments) and supplements to such registrations and qualifications
as may be necessary to maintain the effectiveness thereof during the Registration Period, (iii) take such other actions as may
be necessary to maintain such registrations and qualifications in effect at all times during the Registration Period, and (iv)
take all other actions reasonably necessary or advisable to qualify the Registrable Securities for sale in such jurisdictions;
provided, however, the Company shall not be required in connection therewith or as a condition thereto to (x) qualify to do business
in any jurisdiction where it would not otherwise be required to qualify but for this Section 3(e), (y) subject itself to general
taxation in any such jurisdiction, or (z) file a general consent to service of process in any such jurisdiction. The Company shall
promptly notify each Investor who holds Registrable Securities of the receipt by the Company of any notification with respect to
the suspension of the registration or qualification of any of the Registrable Securities for sale under the securities or “blue
sky” laws of any jurisdiction in the United States or its receipt of actual notice of the initiation or threatening of any
proceeding for such purpose.

 

(f)          The
Company shall notify each Investor in writing of the happening of any event, as promptly as practicable after becoming aware of
such event, as a result of which the prospectus included in a Registration Statement, as then in effect, includes an untrue statement
of a material fact or omission to state a material fact required to be stated therein or necessary to make the statements therein,
in the light of the circumstances under which they were made, not misleading (provided that in no event shall such notice contain
any material, non-public information regarding the Company or any of its Subsidiaries), and, subject to Section 3(r), promptly
prepare a supplement or amendment to such Registration Statement and such prospectus contained therein to correct such untrue statement
or omission and deliver ten (10) copies of such supplement or amendment to each Investor (or such other number of copies as such
Investor may reasonably request) (unless such supplements or amendments are available on EDGAR). The Company shall also promptly
notify each Investor in writing (i) when a prospectus or any prospectus supplement or post-effective amendment has been filed,
when a Registration Statement or any post-effective amendment has become effective (notification of such effectiveness shall be
delivered to each Investor by facsimile or e-mail on the same day of such effectiveness and by overnight mail), and when the Company
receives written notice from the SEC that a Registration Statement or any post-effective amendment will be reviewed by the SEC,
(ii) of any request by the SEC for amendments or supplements to a Registration Statement or related prospectus or related information,
(iii) of the Company’s reasonable determination that a post-effective amendment to a Registration Statement would be appropriate;
and (iv) of the receipt of any request by the SEC or any other federal or state governmental authority for any additional information
relating to the Registration Statement or any amendment or supplement thereto or any related prospectus. The Company shall respond
as promptly as practicable to any comments received from the SEC with respect to each Registration Statement or any amendment thereto
(it being understood and agreed that the Company’s response to any such comments shall be delivered to the SEC no later than
five (5) Business Days after the receipt thereof).

 

    	8

    	 

    

 

(g)          The
Company shall (i) use its reasonable best efforts to prevent the issuance of any stop order or other suspension of effectiveness
of each Registration Statement or the use of any prospectus contained therein, or the suspension of the qualification, or the loss
of an exemption from qualification, of any of the Registrable Securities for sale in any jurisdiction and, if such an order or
suspension is issued, to obtain the withdrawal of such order or suspension at the earliest possible moment and (ii) notify each
Investor who holds Registrable Securities of the issuance of such order and the resolution thereof or its receipt of actual notice
of the initiation or threat of any proceeding for such purpose.

 

(h)          If
any Investor is required under applicable securities law to be described in any Registration Statement as an underwriter and such
Investor consents to so being named an underwriter, at the request of any Investor, the Company shall furnish to such Investor,
on the date of the effectiveness of such Registration Statement and thereafter from time to time on such dates as an Investor may
reasonably request (i) a “comfort letter”, dated such date, from the Company’s independent certified public accountants
in form and substance as is customarily given by independent certified public accountants to underwriters in an underwritten public
offering, addressed to the Investors, and (ii) an opinion, dated as of such date, of counsel representing the Company for purposes
of such Registration Statement, in form, scope and substance as is customarily given in an underwritten public offering, addressed
to the Investors.

 

(i)          If
any Investor may be required under applicable securities law to be described in any Registration Statement as an underwriter and
such Investor consents to so being named an underwriter, upon the written request of such Investor, the Company shall make available
for inspection by (i) such Investor, (ii) legal counsel for such Investor and (iii) one (1) firm of accountants or other agents
retained by such Investor (collectively, the “Inspectors”), all pertinent financial and other records, and pertinent
corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably deemed
necessary by each Inspector, and cause the Company’s officers, directors and employees to supply all information which any
Inspector may reasonably request; provided, however, each Inspector shall agree in writing to hold in strict confidence and not
to make any disclosure (except to such Investor) or use of any Record or other information which the Company’s board of directors
determines in good faith to be confidential, and of which determination the Inspectors are so notified, unless (1) the disclosure
of such Records is necessary to avoid or correct a misstatement or omission in any Registration Statement or is otherwise required
under the 1933 Act, (2) the release of such Records is ordered pursuant to a final, non-appealable subpoena or order from a court
or government body of competent jurisdiction, or (3) the information in such Records has been made generally available to the public
other than by disclosure in violation of this Agreement or any other Transaction Document (as defined in the Securities Purchase
Agreement). Such Investor agrees that it shall, upon learning that disclosure of such Records is sought in or by a court or governmental
body of competent jurisdiction or through other means, give prompt notice to the Company and allow the Company, at its expense,
to undertake appropriate action to prevent disclosure of, or to obtain a protective order for, the Records deemed confidential.
Nothing herein (or in any other confidentiality agreement between the Company and such Investor, if any) shall be deemed to limit
any Investor’s ability to sell Registrable Securities in a manner which is otherwise consistent with applicable laws and
regulations.

 

    	9

    	 

    

 

(j)          The
Company shall hold in confidence and not make any disclosure of information concerning an Investor provided to the Company unless
(i) disclosure of such information is necessary to comply with federal or state securities laws, (ii) the disclosure of such information
is necessary to avoid or correct a misstatement or omission in any Registration Statement or is otherwise required to be disclosed
in such Registration Statement pursuant to the 1933 Act, (iii) the release of such information is ordered pursuant to a subpoena
or other final, non-appealable order from a court or governmental body of competent jurisdiction, or (iv) such information has
been made generally available to the public other than by disclosure in violation of this Agreement or any other Transaction Document.
The Company agrees that it shall, upon learning that disclosure of such information concerning an Investor is sought in or by a
court or governmental body of competent jurisdiction or through other means, give prompt written notice to such Investor and allow
such Investor, at such Investor’s expense, to undertake appropriate action to prevent disclosure of, or to obtain a protective
order for, such information.

 

(k)          Without
limiting any obligation of the Company under the Securities Purchase Agreement, the Company shall use its best efforts either to
(i) cause all of the Registrable Securities covered by each Registration Statement to be listed on each securities exchange on
which securities of the same class or series issued by the Company are then listed, if any, if the listing of such Registrable
Securities is then permitted under the rules of such exchange, (ii) secure designation and quotation of all of the Registrable
Securities covered by each Registration Statement on the OTC Bulletin Board, or (iii) if, despite the Company’s best efforts
to satisfy the preceding clauses (i) or (ii) the Company is unsuccessful in satisfying the preceding clauses (i) or (ii), without
limiting the generality of the foregoing, to use its best efforts to arrange for at least two market makers to register with the
Financial Industry Regulatory Authority, Inc. (“FINRA”) as such with respect to such Registrable Securities.
In addition, the Company shall cooperate with each Investor and any broker or dealer through which any such Investor proposes to
sell its Registrable Securities in effecting a filing with FINRA pursuant to FINRA Rule 5110 as requested by such Investor. The
Company shall pay all fees and expenses in connection with satisfying its obligations under this Section 3(k).

 

(l)          The
Company shall cooperate with the Investors who hold Registrable Securities being offered and, to the extent applicable, facilitate
the timely preparation and delivery of certificates (not bearing any restrictive legend) representing the Registrable Securities
to be offered pursuant to a Registration Statement and enable such certificates to be in such denominations or amounts (as the
case may be) as the Investors may reasonably request from time to time and registered in such names as the Investors may request.

 

(m)          If
requested by an Investor, the Company shall as soon as practicable after receipt of notice from such Investor and subject to Section
3(q) hereof, (i) incorporate in a prospectus supplement or post-effective amendment such information as an Investor reasonably
requests to be included therein relating to the sale and distribution of Registrable Securities, including, without limitation,
information with respect to the number of Registrable Securities being offered or sold, the purchase price being paid therefor
and any other terms of the offering of the Registrable Securities to be sold in such offering; (ii) make all required filings of
such prospectus supplement or post-effective amendment after being notified of the matters to be incorporated in such prospectus
supplement or post-effective amendment; and (iii) supplement or make amendments to any Registration Statement or prospectus contained
therein if reasonably requested by an Investor holding any Registrable Securities.

 

    	10

    	 

    

 

(n)          The
Company shall use its reasonable best efforts to cause the Registrable Securities covered by a Registration Statement to be registered
with or approved by such other governmental agencies or authorities as may be necessary to consummate the disposition of such Registrable
Securities.

 

(o)          The
Company shall otherwise use its best efforts to comply with all applicable rules and regulations of the SEC in connection with
any registration hereunder.

 

(p)          Within
one (1) Business Day after a Registration Statement which covers Registrable Securities is declared effective by the SEC, the Company
shall deliver, and shall cause legal counsel for the Company to deliver, to the transfer agent for such Registrable Securities
(with copies to the Investors whose Registrable Securities are included in such Registration Statement) confirmation that such
Registration Statement has been declared effective by the SEC in the form attached hereto as Exhibit A.

 

(q)          Notwithstanding
anything to the contrary herein (but subject to the last sentence of this Section 3(r)), at any time after the Effective Date of
a particular Registration Statement, the Company may delay the disclosure of material, non-public information concerning the Company
or any of its Subsidiaries the disclosure of which at the time is not, in the good faith opinion of the board of directors of the
Company, in the best interest of the Company and, in the opinion of counsel to the Company, otherwise required (a “Grace
Period”), provided that the Company shall promptly notify the Investors in writing of the (i) existence of material,
non-public information giving rise to a Grace Period (provided that in each such notice the Company shall not disclose the content
of such material, non-public information to any of the Investors) and the date on which such Grace Period will begin and (ii) date
on which such Grace Period ends, provided further that (I) no Grace Period shall exceed ten (10) consecutive days and during any
three hundred sixty five (365) day period all such Grace Periods shall not exceed an aggregate of thirty (30) days, (II) the first
day of any Grace Period must be at least five (5) Trading Days after the last day of any prior Grace Period and (III) no Grace
Period may exist during the thirty (30) Trading Day period immediately following the Effective Date of such Registration Statement
(provided that such thirty (30) Trading Day period shall be extended by the number of Trading Days during such period and any extension
thereof contemplated by this proviso during which such Registration Statement is not effective or the prospectus contained therein
is not available for use) (each, an “Allowable Grace Period”). For purposes of determining the length of a Grace
Period above, such Grace Period shall begin on and include the date the Investors receive the notice referred to in clause (i)
above and shall end on and include the later of the date the Investors receive the notice referred to in clause (ii) above and
the date referred to in such notice. The provisions of the first sentence of Section 3(f) and Section 3(g) hereof shall not be
applicable during the period of any Allowable Grace Period. Upon expiration of each Grace Period, the Company shall again be bound
by the first sentence of Section 3(f) with respect to the information giving rise thereto unless such material, non-public information
is no longer applicable. Notwithstanding anything to the contrary contained in this Section 3(r), the Company shall cause its transfer
agent to deliver unlegended shares of Common Stock to a transferee of an Investor in accordance with the terms of the Securities
Purchase Agreement in connection with any sale of Registrable Securities with respect to which such Investor has entered into a
contract for sale, and delivered a copy of the prospectus included as part of the particular Registration Statement (unless an
exemption from such prospectus delivery requirement exists), prior to such Investor’s receipt of the notice of a Grace Period
and for which the Investor has not yet settled.

 

    	11

    	 

    

 

4.          Obligations
of the Investors.

 

(a)          At
least five (5) Business Days prior to the first anticipated filing date of each Registration Statement, the Company shall notify
each Investor in writing of the information the Company requires from each such Investor with respect to such Registration Statement.
It shall be a condition precedent to the obligations of the Company to complete the registration pursuant to this Agreement with
respect to the Registrable Securities of a particular Investor that such Investor shall furnish to the Company such information
regarding itself, the Registrable Securities held by it and the intended method of disposition of the Registrable Securities held
by it, as shall be reasonably required to effect and maintain the effectiveness of the registration of such Registrable Securities
and shall execute such documents in connection with such registration as the Company may reasonably request.

 

(b)          Each
Investor, by such Investor’s acceptance of the Registrable Securities, agrees to cooperate with the Company as reasonably
requested by the Company in connection with the preparation and filing of each Registration Statement hereunder, unless such Investor
has notified the Company in writing of such Investor’s election to exclude all of such Investor’s Registrable Securities
from such Registration Statement.

 

(c)          Each
Investor agrees that, upon receipt of any notice from the Company of the happening of any event of the kind described in Section
3(g) or the first sentence of 3(f), such Investor will immediately discontinue disposition of Registrable Securities pursuant to
any Registration Statement(s) covering such Registrable Securities until such Investor’s receipt of the copies of the supplemented
or amended prospectus contemplated by Section 3(g) or the first sentence of Section 3(f) or receipt of notice that no supplement
or amendment is required. Notwithstanding anything to the contrary in this Section 4(c), the Company shall cause its transfer agent
to deliver unlegended shares of Common Stock to a transferee of an Investor in accordance with the terms of the Securities Purchase
Agreement in connection with any sale of Registrable Securities with respect to which such Investor has entered into a contract
for sale prior to the Investor’s receipt of a notice from the Company of the happening of any event of the kind described
in Section 3(g) or the first sentence of Section 3(f) and for which such Investor has not yet settled.

 

5.          Expenses
of Registration.

 

All reasonable expenses,
other than underwriting discounts and commissions, incurred in connection with registrations, filings or qualifications pursuant
to Sections 2 and 3, including, without limitation, all registration, listing and qualifications fees, printers and accounting
fees, FINRA filing fees (if any), blue sky fees and fees and disbursements of counsel for the Company shall be paid by the Company.
The Company shall have no obligation to pay the expenses of any Investor incurred in connection with any registration, filing or
qualification pursuant to this Agreement.

 

    	12

    	 

    

 

6.          Indemnification.

 

(a)          To
the fullest extent permitted by law, the Company will, and hereby does, indemnify, hold harmless and defend each Investor and each
of its directors, officers, shareholders, members, partners, employees, agents, advisors, representatives (and any other Persons
with a functionally equivalent role of a Person holding such titles notwithstanding the lack of such title or any other title)
and each Person, if any, who controls such Investor within the meaning of the 1933 Act or the 1934 Act and each of the directors,
officers, shareholders, members, partners, employees, agents, advisors, representatives (and any other Persons with a functionally
equivalent role of a Person holding such titles notwithstanding the lack of such title or any other title) of such controlling
Persons (each, an “Indemnified Person”), against any losses, obligations, claims, damages, liabilities, contingencies,
judgments, fines, penalties, charges, costs (including, without limitation, court costs, reasonable attorneys’ fees and costs
of defense and investigation), amounts paid in settlement or expenses, joint or several, (collectively, “Claims”)
incurred in investigating, preparing or defending any action, claim, suit, inquiry, proceeding, investigation or appeal taken from
the foregoing by or before any court or governmental, administrative or other regulatory agency, body or the SEC, whether pending
or threatened, whether or not an indemnified party is or may be a party thereto (“Indemnified Damages”), to
which any of them may become subject insofar as such Claims (or actions or proceedings, whether commenced or threatened, in respect
thereof) arise out of or are based upon: (i) any untrue statement or alleged untrue statement of a material fact in a Registration
Statement or any post-effective amendment thereto or in any filing made in connection with the qualification of the offering under
the securities or other “blue sky” laws of any jurisdiction in which Registrable Securities are offered (“Blue
Sky Filing”), or the omission or alleged omission to state a material fact required to be stated therein or necessary
to make the statements therein not misleading, (ii) any untrue statement or alleged untrue statement of a material fact contained
in any preliminary prospectus if used prior to the effective date of such Registration Statement, or contained in the final prospectus
(as amended or supplemented, if the Company files any amendment thereof or supplement thereto with the SEC) or the omission or
alleged omission to state therein any material fact necessary to make the statements made therein, in light of the circumstances
under which the statements therein were made, not misleading or (iii) any violation or alleged violation by the Company of the
1933 Act, the 1934 Act, any other law, including, without limitation, any state securities law, or any rule or regulation thereunder
relating to the offer or sale of the Registrable Securities pursuant to a Registration Statement (the matters in the foregoing
clauses (i) through (iii) being, collectively, “Violations”). Subject to Section 6(c), the Company shall reimburse
the Indemnified Persons, promptly as such expenses are incurred and are due and payable, for any legal fees or other reasonable
expenses incurred by them in connection with investigating or defending any such Claim. Notwithstanding anything to the contrary
contained herein, the indemnification agreement contained in this Section 6(a): (i) shall not apply to a Claim by an Indemnified
Person arising out of or based upon a Violation which occurs in reliance upon and in conformity with information furnished in writing
to the Company by such Indemnified Person for such Indemnified Person expressly for use in connection with the preparation of such
Registration Statement or any such amendment thereof or supplement thereto and (ii) shall not be available to a particular Investor
to the extent such Claim is based on a failure of such Investor to deliver or to cause to be delivered the prospectus made available
by the Company (to the extent applicable), including, without limitation, a corrected prospectus, if such prospectus or corrected
prospectus was timely made available by the Company pursuant to Section 3(d) and then only if, and to the extent that, following
the receipt of the corrected prospectus no grounds for such Claim would have existed; and (iii) shall not apply to amounts paid
in settlement of any Claim if such settlement is effected without the prior written consent of the Company, which consent shall
not be unreasonably withheld or delayed. Such indemnity shall remain in full force and effect regardless of any investigation made
by or on behalf of the Indemnified Person and shall survive the transfer of any of the Registrable Securities by any of the Investors
pursuant to Section 9.

 

    	13

    	 

    

 

(b)          In
connection with any Registration Statement in which an Investor is participating, such Investor agrees to severally and not jointly
indemnify, hold harmless and defend, to the same extent and in the same manner as is set forth in Section 6(a), the Company, each
of its directors, each of its officers who signs the Registration Statement and each Person, if any, who controls the Company within
the meaning of the 1933 Act or the 1934 Act (each, an “Indemnified Party”), against any Claim or Indemnified
Damages to which any of them may become subject, under the 1933 Act, the 1934 Act or otherwise, insofar as such Claim or Indemnified
Damages arise out of or are based upon any Violation, in each case, to the extent, and only to the extent, that such Violation
occurs in reliance upon and in conformity with written information furnished to the Company by such Investor expressly for use
in connection with such Registration Statement; and, subject to Section 6(c) and the below provisos in this Section 6(b), such
Investor will reimburse an Indemnified Party any legal or other expenses reasonably incurred by such Indemnified Party in connection
with investigating or defending any such Claim; provided, however, the indemnity agreement contained in this Section 6(b) and the
agreement with respect to contribution contained in Section 7 shall not apply to amounts paid in settlement of any Claim if such
settlement is effected without the prior written consent of such Investor, which consent shall not be unreasonably withheld or
delayed, provided further that such Investor shall be liable under this Section 6(b) for only that amount of a Claim or Indemnified
Damages as does not exceed the net proceeds to such Investor as a result of the applicable sale of Registrable Securities pursuant
to such Registration Statement. Such indemnity shall remain in full force and effect regardless of any investigation made by or
on behalf of such Indemnified Party and shall survive the transfer of any of the Registrable Securities by any of the Investors
pursuant to Section 9.

 

(c)          Promptly
after receipt by an Indemnified Person or Indemnified Party (as the case may be) under this Section 6 of notice of the commencement
of any action or proceeding (including, without limitation, any governmental action or proceeding) involving a Claim, such Indemnified
Person or Indemnified Party (as the case may be) shall, if a Claim in respect thereof is to be made against any indemnifying party
under this Section 6, deliver to the indemnifying party a written notice of the commencement thereof, and the indemnifying party
shall have the right to participate in, and, to the extent the indemnifying party so desires, jointly with any other indemnifying
party similarly noticed, to assume control of the defense thereof with counsel mutually satisfactory to the indemnifying party
and the Indemnified Person or the Indemnified Party (as the case may be); provided, however, an Indemnified Person or Indemnified
Party (as the case may be) shall have the right to retain its own counsel with the fees and expenses of such counsel to be paid
by the indemnifying party if: (i) the indemnifying party has agreed in writing to pay such fees and expenses; (ii) the indemnifying
party shall have failed promptly to assume the defense of such Claim and to employ counsel reasonably satisfactory to such Indemnified
Person or Indemnified Party (as the case may be) in any such Claim; or (iii) the named parties to any such Claim (including, without
limitation, any impleaded parties) include both such Indemnified Person or Indemnified Party (as the case may be) and the indemnifying
party, and such Indemnified Person or such Indemnified Party (as the case may be) shall have been advised by counsel that a conflict
of interest is likely to exist if the same counsel were to represent such Indemnified Person or such Indemnified Party and the
indemnifying party (in which case, if such Indemnified Person or such Indemnified Party (as the case may be) notifies the indemnifying
party in writing that it elects to employ separate counsel at the expense of the indemnifying party, then the indemnifying party
shall not have the right to assume the defense thereof and such counsel shall be at the expense of the Indemnifying Party, provided
further that in the case of clause (iii) above the indemnifying party shall not be responsible for the reasonable fees and expenses
of more than one (1) separate legal counsel for such Indemnified Person or Indemnified Party (as the case may be). The Indemnified
Party or Indemnified Person (as the case may be) shall reasonably cooperate with the indemnifying party in connection with any
negotiation or defense of any such action or Claim by the indemnifying party and shall furnish to the indemnifying party all information
reasonably available to the Indemnified Party or Indemnified Person (as the case may be) which relates to such action or Claim.
The indemnifying party shall keep the Indemnified Party or Indemnified Person (as the case may be) reasonably apprised at all times
as to the status of the defense or any settlement negotiations with respect thereto. No indemnifying party shall be liable for
any settlement of any action, claim or proceeding effected without its prior written consent; provided, however, the indemnifying
party shall not unreasonably withhold, delay or condition its consent. No indemnifying party shall, without the prior written consent
of the Indemnified Party or Indemnified Person (as the case may be), consent to entry of any judgment or enter into any settlement
or other compromise which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified
Party or Indemnified Person (as the case may be) of a release from all liability in respect to such Claim or litigation, and such
settlement shall not include any admission as to fault on the part of the Indemnified Party. Following indemnification as provided
for hereunder, the indemnifying party shall be subrogated to all rights of the Indemnified Party or Indemnified Person (as the
case may be) with respect to all third parties, firms or corporations relating to the matter for which indemnification has been
made. The failure to deliver written notice to the indemnifying party within a reasonable time of the commencement of any such
action shall not relieve such indemnifying party of any liability to the Indemnified Person or Indemnified Party (as the case may
be) under this Section 6, except to the extent that the indemnifying party is materially and adversely prejudiced in its ability
to defend such action.

 

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(d)          No
Person involved in the sale of Registrable Securities who is guilty of fraudulent misrepresentation (within the meaning of Section
11(f) of the 1933 Act) in connection with such sale shall be entitled to indemnification from any Person involved in such sale
of Registrable Securities who is not guilty of fraudulent misrepresentation.

 

(e)          The
indemnification required by this Section 6 shall be made by periodic payments of the amount thereof during the course of the investigation
or defense, as and when bills are received or Indemnified Damages are incurred.

 

(f)          The
indemnity and contribution agreements contained herein shall be in addition to (i) any cause of action or similar right of the
Indemnified Party or Indemnified Person against the indemnifying party or others, and (ii) any liabilities the indemnifying party
may be subject to pursuant to the law.

 

7.          Contribution.

 

To the extent any indemnification
by an indemnifying party is prohibited or limited by law, the indemnifying party agrees to make the maximum contribution with respect
to any amounts for which it would otherwise be liable under Section 6 to the fullest extent permitted by law; provided, however:
(i) no contribution shall be made under circumstances where the maker would not have been liable for indemnification under the
fault standards set forth in Section 6 of this Agreement, (ii) no Person involved in the sale of Registrable Securities which Person
is guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the 1933 Act) in connection with such sale shall
be entitled to contribution from any Person involved in such sale of Registrable Securities who was not guilty of fraudulent misrepresentation;
and (iii) contribution by any seller of Registrable Securities shall be limited in amount to the amount of net proceeds received
by such seller from the applicable sale of such Registrable Securities pursuant to such Registration Statement. Notwithstanding
the provisions of this Section 7, no Investor shall be required to contribute, in the aggregate, any amount in excess of the amount
by which the net proceeds actually received by such Investor from the applicable sale of the Registrable Securities subject to
the Claim exceeds the amount of any damages that such Investor has otherwise been required to pay, or would otherwise be required
to pay under Section 6(b), by reason of such untrue or alleged untrue statement or omission or alleged omission.

 

8.          Reports
Under the 1934 Act.

 

With a view to making
available to the Investors the benefits of Rule 144, from and after the Filing Deadline the Company agrees to:

 

(a)          make
and keep public information available, as those terms are understood and defined in Rule 144;

 

(b)          file
with the SEC in a timely manner all reports and other documents required of the Company under the 1933 Act and the 1934 Act so
long as the Company remains subject to such requirements (it being understood and agreed that nothing herein shall limit any obligations
of the Company under the Securities Purchase Agreement) and the filing of such reports and other documents is required for the
applicable provisions of Rule 144; and

 

(c)          furnish
to each Investor so long as such Investor owns Registrable Securities, promptly upon request, (i) a written statement by the Company,
if true, that it has complied with the reporting, submission and posting requirements of Rule 144 and the 1934 Act, (ii) a copy
of the most recent annual or quarterly report of the Company and such other reports and documents so filed by the Company with
the SEC if such reports are not publicly available via EDGAR, and (iii) such other information as may be reasonably requested to
permit the Investors to sell such securities pursuant to Rule 144 without registration.

 

    	15

    	 

    

 

9.          Assignment
of Registration Rights.

 

All or any portion
of the rights under this Agreement shall be automatically assignable by each Investor to any transferee or assignee (as the case
may be) of all or any portion of such Investor’s Registrable Securities, Notes or Warrants if: (i) such Investor agrees in
writing with such transferee or assignee (as the case may be) to assign all or any portion of such rights, and a copy of such agreement
is furnished to the Company within a reasonable time after such transfer or assignment (as the case may be); (ii) the Company is,
within a reasonable time after such transfer or assignment (as the case may be), furnished with written notice of (a) the name
and address of such transferee or assignee (as the case may be), and (b) the securities with respect to which such registration
rights are being transferred or assigned (as the case may be); (iii) immediately following such transfer or assignment (as the
case may be) the further disposition of such securities by such transferee or assignee (as the case may be) is restricted under
the 1933 Act or applicable state securities laws if so required; (iv) at or before the time the Company receives the written notice
contemplated by clause (ii) of this sentence such transferee or assignee (as the case may be) agrees in writing with the Company
to be bound by all of the provisions contained herein; (v) such transfer or assignment (as the case may be) shall have been made
in accordance with the applicable requirements of the Securities Purchase Agreement, the Notes, the Warrants and the other Transaction
Documents (as defined in the Securities Purchase Agreement) (as the case may be); and (vi) such transfer or assignment (as the
case may be) shall have been conducted in accordance with all applicable federal and state securities laws.

 

10.         Amendment
of Registration Rights.

 

Provisions of this
Agreement may be amended only with the written consent of the Company and the Required Holders. Any amendment effected in accordance
with this Section 10 shall be binding upon each Investor and the Company, provided that no such amendment shall be effective to
the extent that it (1) applies to less than all of the holders of the holders of Registrable Securities, (2) imposes any obligation
or liability on any Investor without such Investor’s prior written consent (which may be granted or withheld in such Investor’s
sole discretion) or (3) applies retroactively. No waiver shall be effective unless it is in writing and signed by an authorized
representative of the waiving party, provided that the Required Holders (in a writing signed by all of the Required Holders) may
waive any provision of this Agreement, and any waiver of any provision of this Agreement made in conformity with the provisions
of this Section 10 shall be binding on each Investor, provided that no such waiver shall be effective to the extent that it (1)
applies to less than all the Investors (unless a party gives a waiver as to itself only) or (2) imposes any obligation or liability
on any Investor without such Investor’s prior written consent (which may be granted or withheld in such Investor’s
sole discretion). No consideration shall be offered or paid to any Person to amend or consent to a waiver or modification of any
provision of this Agreement unless the same consideration also is offered to all of the parties to this Agreement.

 

    	16

    	 

    

 

11.         Miscellaneous.

 

(a)          Solely
for purposes of this Agreement, a Person is deemed to be a holder of Registrable Securities whenever such Person owns, or is deemed
to own, of record such Registrable Securities. If the Company receives conflicting instructions, notices or elections from two
or more Persons with respect to the same Registrable Securities, the Company shall act upon the basis of instructions, notice or
election received from such record owner of such Registrable Securities.

 

(b)          Any
notices, consents, waivers or other communications required or permitted to be given under the terms of this Agreement must be
in writing and will be deemed to have been delivered: (i) upon receipt, when delivered personally; (ii) upon receipt, when sent
by facsimile (provided confirmation of transmission is mechanically or electronically generated and kept on file by the sending
party); (iii) with respect to Section 3(c), by e-mail (provided confirmation of transmission is electronically generated and kept
on file by the sending party); or (iv) one (1) Business Day after deposit with a nationally recognized overnight delivery service
with next day delivery specified, in each case, properly addressed to the party to receive the same. The addresses and facsimile
numbers for such communications shall be:

 

If to the Company:

 

Healthcare Corporation of America, Inc.

66 Ford Road, Suite 230

Denville, NJ 07834

Telephone: 973-983-6300

Facsimile: 973-983-6304

Attention: Chief Executive Officer

 

With a copy (for informational
purposes only) to:

 

Loeb & Loeb, LLP

345 Park Avenue

New York, NY 10154

Telephone: 212-407-4000

Facsimile: 212-407-4990

Attention: Mitchell Nussbaum, Esq.

 

If to a Buyer, to its address, facsimile
number or e-mail address (as the case may be) set forth on the Schedule of Buyers attached to the Securities Purchase Agreement,
with copies to such Buyer’s representatives as set forth on the Schedule of Buyers, or to such other address, facsimile number
and/or e-mail address and/or to the attention of such other Person as the recipient party has specified by written notice given
to each other party five (5) days prior to the effectiveness of such change. Written confirmation of receipt (A) given by the recipient
of such notice, consent, waiver or other communication, (B) mechanically or electronically generated by the sender’s facsimile
machine or e-mail transmission containing the time, date and recipient facsimile number or e-mail address or (C) provided by a
courier or overnight courier service shall be rebuttable evidence of personal service, receipt by facsimile or receipt from a nationally
recognized overnight delivery service in accordance with clause (i), (ii) or (iii) above, respectively.

 

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(c)          Failure
of any party to exercise any right or remedy under this Agreement or otherwise, or delay by a party in exercising such right or
remedy, shall not operate as a waiver thereof.

 

(d)          All
questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by the internal
laws of the State of New York, without giving effect to any choice of law or conflict of law provision or rule (whether of the
State of New York or any other jurisdictions) that would cause the application of the laws of any jurisdictions other than the
State of New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting
in The City of New York, Borough of Manhattan, for the adjudication of any dispute hereunder or in connection herewith or with
any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action
or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding
is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper. Each party hereby irrevocably
waives personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy
thereof to such party at the address for such notices to it under this Agreement and agrees that such service shall constitute
good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right
to serve process in any manner permitted by law. If any provision of this Agreement shall be invalid or unenforceable in any jurisdiction,
such invalidity or unenforceability shall not affect the validity or enforceability of the remainder of this Agreement in that
jurisdiction or the validity or enforceability of any provision of this Agreement in any other jurisdiction. EACH PARTY HEREBY
IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER
OR IN CONNECTION HEREWITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

(e)          This
Agreement, the other Transaction Documents, the schedules and exhibits attached hereto and thereto and the instruments referenced
herein and therein constitute the entire agreement among the parties hereto and thereto solely with respect to the subject matter
hereof and thereof. There are no restrictions, promises, warranties or undertakings, other than those set forth or referred to
herein and therein. This Agreement, the other Transaction Documents, the schedules and exhibits attached hereto and thereto and
the instruments referenced herein and therein supersede all prior agreements and understandings among the parties hereto solely
with respect to the subject matter hereof and thereof; provided, however, nothing contained in this Agreement or any other Transaction
Document shall (or shall be deemed to) (i) have any effect on any agreements any Investor has entered into with, or any instrument
that any Investor received from, the Company or any of its Subsidiaries prior to the date hereof with respect to any prior investment
made by such Investor in the Company, (ii) waive, alter, modify or amend in any respect any obligations of the Company or any of
its Subsidiaries or any rights of or benefits to any Investor or any other Person in any agreement entered into prior to the date
hereof between or among the Company and/or any of its Subsidiaries and any Investor or any instrument that any Investor received
prior to the date hereof from the Company and/or any of its Subsidiaries and all such agreements and instruments shall continue
in full force and effect or (iii) limit any obligations of the Company under any of the other Transaction Documents.

 

    	18

    	 

    

 

(f)          Subject
to compliance with Section 9 (if applicable), this Agreement shall inure to the benefit of and be binding upon the permitted successors
and assigns of each of the parties hereto. This Agreement is not for the benefit of, nor may any provision hereof be enforced by,
any Person, other than the parties hereto, their respective permitted successors and assigns and the Persons referred to in Sections
6 and 7 hereof.

 

(g)          The
headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof. Unless
the context clearly indicates otherwise, each pronoun herein shall be deemed to include the masculine, feminine, neuter, singular
and plural forms thereof. The terms “including,” “includes,” “include” and words of like import
shall be construed broadly as if followed by the words “without limitation.” The terms “herein,” “hereunder,”
“hereof” and words of like import refer to this entire Agreement instead of just the provision in which they are found.

 

(h)          This
Agreement may be executed in two or more identical counterparts, all of which shall be considered one and the same agreement and
shall become effective when counterparts have been signed by each party and delivered to the other party. In the event that any
signature is delivered by facsimile transmission or by an e-mail which contains a portable document format (.pdf) file of an executed
signature page, such signature page shall create a valid and binding obligation of the party executing (or on whose behalf such
signature is executed) with the same force and effect as if such signature page were an original thereof.

 

(i)          Each
party shall do and perform, or cause to be done and performed, all such further acts and things, and shall execute and deliver
all such other agreements, certificates, instruments and documents as any other party may reasonably request in order to carry
out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby.

 

(j)          The
language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent and no rules
of strict construction will be applied against any party. Notwithstanding anything to the contrary set forth in Section 10, terms
used in this Agreement but defined in the other Transaction Documents shall have the meanings ascribed to such terms on the Closing
Date in such other Transaction Documents unless otherwise consented to in writing by each Investor.

 

(k)          All
consents and other determinations required to be made by the Investors pursuant to this Agreement shall be made, unless otherwise
specified in this Agreement, by the Required Holders.

 

    	19

    	 

    

 

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

 

[signature pages follow]

 

    	20

    	 

    

 

IN WITNESS WHEREOF,
Buyer and the Company have caused their respective signature page to this Registration Rights Agreement to be duly executed as
of the date first written above.

 

	 	COMPANY:
	 	 
	 	HEALTHCARE CORPORATION OF AMERICA, INC.
	 	 
	 	By:	/s/ Yoram Bibring
	 	 	Name:  Yoram Bibring
	 	 	Title:    Chief Financial Officer

 

    	21

    	 

    

  

EXHIBIT A

 

FORM OF NOTICE OF EFFECTIVENESS

OF REGISTRATION STATEMENT

 

	 	 	 
	 	 	 
	 	 	 
	Attention:	 	 	 

 

Re:           [______________]

 

Ladies and Gentlemen:

 

[We are][I am] counsel
to Healthcare Corporation of America, Inc., a Delaware corporation (the “Company”), and have represented the
Company in connection with that certain Securities Purchase Agreement (the “Securities Purchase Agreement”)
entered into by and among the Company and the buyers named therein (collectively, the “Holders”) pursuant to
which the Company issued to the Holders (i) secured convertible notes (the “Notes”) convertible into shares
of the Company’s common stock, no par value (the “Common Stock”), and (ii) warrants exercisable for
shares of Common Stock (the “Warrants”). Pursuant to the Securities Purchase Agreement, the Company also has
entered into a Registration Rights Agreement with the Holders (the “Registration Rights Agreement”) pursuant
to which the Company agreed, among other things, to register the Registrable Securities (as defined in the Registration Rights
Agreement), including the shares of Common Stock issuable upon conversion of the Notes and exercise of the Warrants, under the
Securities Act of 1933, as amended (the “1933 Act”). In connection with the Company’s obligations under
the Registration Rights Agreement, on ____________ ___, 2013, the Company filed a Registration Statement on Form S-1 (File No.
333-_____________) (the “Registration Statement”) with the Securities and Exchange Commission (the “SEC”)
relating to the Registrable Securities which names each of the Holders as a selling stockholder thereunder.

 

In connection with the
foregoing, [we][I] advise you that a member of the SEC’s staff has advised [us][me] by telephone that the SEC has entered
an order declaring the Registration Statement effective under the 1933 Act at [ENTER TIME OF EFFECTIVENESS] on [ENTER DATE OF EFFECTIVENESS]
and [we][I] have no knowledge, after telephonic inquiry of a member of the SEC’s staff, that any stop order suspending its
effectiveness has been issued or that any proceedings for that purpose are pending before, or threatened by, the SEC and the Registrable
Securities are available for resale under the 1933 Act pursuant to the Registration Statement.

 

This letter shall serve
as our standing opinion to you that the shares of Common Stock and the shares of Common Stock underlying the Notes and the Warrants
are freely transferable by the Holders pursuant to the Registration Statement. You need not require further letters from us to
effect any future legend-free issuance or reissuance of such shares of Common Stock to the Holders as contemplated by the Company’s
Irrevocable Transfer Agent Instructions dated _________ __, 2013.

 

    	 

    	 

    

 

	 	Very truly yours,
	 	 
	 	[ISSUER’S COUNSEL]
	 	 
	 	By:	 

 

CC:[LIST NAMES OF HOLDERS]

 

    	 

    	 

    

 

EXHIBIT B

 

SELLING STOCKHOLDERS

 

The shares of common
stock being offered by the selling stockholders are those issuable to the selling stockholders upon conversion of the notes and
exercise of the warrants. For additional information regarding the issuance of the notes and the warrants, see “Private Placement
of Notes and Warrants” above. We are registering the shares of common stock in order to permit the selling stockholders to
offer the shares for resale from time to time. Except for the ownership of the notes and the warrants issued pursuant to the Securities
Purchase Agreement, the selling stockholders have not had any material relationship with us within the past three years.

 

The table below lists
the selling stockholders and other information regarding the beneficial ownership (as determined under Section 13(d) of the Securities
Exchange Act of 1934, as amended, and the rules and regulations thereunder) of the shares of common stock held by each of the selling
stockholders. The second column lists the number of shares of common stock beneficially owned by the selling stockholders, based
on their respective ownership of shares of common stock, notes and warrants, as of ________, 2013, assuming conversion of the notes
and exercise of the warrants held by each such selling stockholder on that date, but taking account of any limitations on conversion
and exercise set forth therein.

 

The third column lists
the shares of common stock being offered by this prospectus by the selling stockholders and does not take into account any limitations
on (i) conversion of the notes set forth therein or (ii) exercise of the warrants set forth therein.

 

In accordance with
the terms of a registration rights agreement with the holders of the notes and the warrants, this prospectus generally covers the
resale of 125% of the sum of (i) the maximum number of shares of common stock issuable upon conversion of the notes and (ii) the
maximum number of shares of common stock issuable upon exercise of the warrants, in each case, determined as if the outstanding
notes and warrants were converted or exercised (as the case may be) in full (without regard to any limitations on conversion or
exercise contained therein) as of the trading day immediately preceding the date this registration statement was initially filed
with the SEC. Because the conversion price of the notes and the exercise price of the warrants may be adjusted, the number of shares
that will actually be issued may be more or less than the number of shares being offered by this prospectus. The fourth column
assumes the sale of all of the shares offered by the selling stockholders pursuant to this prospectus.

 

The selling stockholders
may sell all, some or none of their shares in this offering. See “Plan of Distribution.”

 

	Name of Selling Stockholder	 	Number of Shares of
 Common Stock Owned
 Prior to Offering	 	 	Maximum Number of 
 Shares of Common Stock to
 be Sold Pursuant to this
 Prospectus	 	 	Number of  Shares of
 Common Stock Owned
 After Offering	 
		 	 		 	 	 		 	 	 		 

 

* Table to be completed based on information provided by the
Buyers and their assignees.

 

    	 

    	 

    

 

PLAN OF DISTRIBUTION

 

We are registering
the shares of common stock issuable upon conversion of the notes and exercise of the warrants to permit the resale of these shares
of common stock by the holders of the notes and warrants 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;

 

		·	through the writing or settlement of options, whether such options are listed on an options exchange
or otherwise;

 

		·	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;

 

		·	short sales made after the date the Registration Statement is declared effective by the SEC;

 

		·	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.

 

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). In connection with sales of the shares of
common stock or otherwise, the selling stockholders may enter into hedging transactions with broker-dealers, which may in turn
engage in short sales of the shares of common stock in the course of hedging in positions they assume. The selling stockholders
may also sell shares of common stock short and deliver shares of common stock covered by this prospectus to close out short positions
and to return borrowed shares in connection with such short sales. The selling stockholders may also loan or pledge shares of common
stock to broker-dealers that in turn may sell such shares.

 

The selling stockholders
may pledge or grant a security interest in some or all of the notes, warrants or 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.

 

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.

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