Document:

EX-10.10

 Exhibit 10.10 

 
 

 
 May 30, 2014 

Dr. Peter Hanson 
 [***] 

[***] 
 Dear Peter, 

I am pleased to confirm our offer of at-will employment to you to join Centrexion Corporation (the
“Company”) as Chief Veterinary Officer. Your employment with the Company will be effective on or before July 1, 2014 (the “Start Date”) as mutually agreed. As Chief Veterinary Officer, you will perform the
duties and responsibilities customary for such position and such other duties consistent with such position as may be assigned to you from time to time by the Company’s Chief Scientific Officer. By accepting this offer of employment, you agree
to devote your full business time, ability, knowledge, and attention solely to the Company’s business affairs. The Company acknowledges that, during your employment, you will continue to reside in Bristol, Wisconsin, but will from time to time
travel to the Company’s headquarters in Baltimore, Maryland as the Company deems necessary for you to perform your duties and obligations hereunder or if requested by the Company’s Chief Scientific Officer. The Company will reimburse you
for reasonable expenses actually paid or incurred by you for such travel in accordance with the applicable Company expense reimbursement policy that is in effect from time to time. 

Your initial base salary will be at the rate of $290,000 per annum and paid in accordance with our normal payroll practices. In addition, you will be eligible
to participate in any annual bonus programs as may be established from time to time by the Company’s board of directors (or a duly authorized committee thereof). At present, it is the goal of the Company that such a bonus program will be
established under which you will be eligible for a target bonus of up to 40% of your base salary; however, the implementation of such a program will be subject to business conditions and will ultimately be at the discretion of the Company. As
determined by the Company in its sole discretion, any such bonus may be payable to you in the form of cash or equity (including options) or a combination thereof, and any such equity will not be subject to a vesting schedule. You will also be
entitled to those benefits, including paid vacation leave, as are generally made available to employees of the Company; provided, however, that such benefits may be modified or terminated by the Company at its discretion. All forms of compensation
referred to in this offer letter or otherwise payable to you by the Company are subject to reduction to reflect applicable withholding and payroll taxes. 

  
 509 S. Exeter Avenue
Suite 202, Baltimore, Maryland 21202: (410) 522-8701 
 www. centrexion.com 

 

 
  

 At a meeting of the Company’s Board of Directors on July 23, 2014, you will be granted an option to
purchase 600,000 shares of the Company’s common stock, which option grant shall be effective on July 23, 2014; the option will be subject to monthly vesting over a three-year period subject to your continued employment. To the maximum
extent possible, the option will be granted as an “incentive stock option” under Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”). The option will be granted in accordance with and pursuant to
the Company’s equity incentive plan and applicable form of award agreement. The terms of the option will be no less favorable to you in any respect as any option granted to any other senior executive of the Company To the extent that the terms
of the Company’s equity incentive plan conflict in any manner with the terms of this letter, the plan document shall control. 
 Your employment with
the Company is at-will and this offer letter does not guarantee your employment with the Company for a specific length of time. Therefore, neither you nor the Company is making a commitment to the other to
continue an employment relationship, which may be terminated by either of us at any time by written notice for any reason or no reason, subject only to the terms of this offer letter. 

If, within the first three (3) years of your employment with the Company, you are terminated by the Company without Cause (as defined below) or you
resign for Good Reason (as defined below), provided that you execute and do not revoke, within sixty (60) days following your employment termination, a release of claims that is provided to you by the Company, and further provided that you are
in continued compliance with your obligations under the Restrictive Covenant Agreement (defined below), you will be entitled to receive: (i) base salary continuation payments in accordance with the regular payroll practices of the Company for a
period of twelve (12) months following the date of your separation, (ii) any unpaid bonus earned for the calendar year preceding your date of termination, payable at the time it otherwise would have been paid had your employment with the
Company not terminated, and (iii) provided you have provided services to the Company as an active employee for at least eighteen months prior to separation, you will be eligible to receive a pro-rata
portion of any applicable bonus for the year of termination (in accordance with the terms of the bonus plan for such year, including being subject to discretionary elements), payable at the time it otherwise would have been paid had your employment
with the Company not terminated. Any such pro-rata bonus for the year of termination shall be calculated based on the number of days during which you were employed by the Company during the applicable
performance period. Notwithstanding the foregoing, any salary continuation or bonus payments payable to you during the sixty (60) day period following your termination shall be made to you on the first regular payroll date occurring immediately
after the sixtieth (60th) day following your termination. The Company will provide you its standard form of release of claims within seven (7) days following your termination. Notwithstanding any of the foregoing language, in the event that any
right of salary continuation payments under this paragraph is triggered, the right to such continuation payments shall terminate immediately in the event that you obtain new employment with, or engagement as a consultant or independent contractor
by, any person or entity. 
  

  
 509 S. Exeter Avenue
Suite 202, Baltimore, Maryland 21202: (410) 522-8701 
 www. centrexion.com 

 

 
  

 For purposes of this offer letter, “Cause” shall mean: (i) your indictment or
conviction, or your entry of a pleading of guilty or no contest, with respect to any felony criminal charge or any other criminal charge involving fraud, dishonesty or moral turpitude, (ii) your willful misconduct or gross negligence in the
performance of your duties to the Company (or any of its subsidiaries or affiliates), (iii) your failure or refusal to (A) follow policies or the lawful directives established by the Company’s Chief Executive Officer or the Company’s
Board of Directors or (B) perform your duties or obligations hereunder (other than any such failure or refusal resulting from your physical or mental incapacity) which is not cured or remedied within five (5) business days following
receipt by you of written notice from the Company detailing the failure or refusal, (iv) any act of fraud, embezzlement, theft or dishonesty by you in the course of your employment with the Company (or any of its subsidiaries or affiliates),
(v) your material breach of this offer letter or any agreement with the Company (or any of its subsidiaries or affiliates), including , without limitation, the Restrictive Covenant Agreement, which breach, if curable, is not cured or remedied within
ten (10) days following receipt by you from the Company of written notice detailing the breach (provided that any breach by you of any provision of the Restrictive Covenant Agreement shall not be deemed curable), (vi) your failure to comply in
any material respect with applicable laws with respect to the operation of the business of the Company; or (vii) any act by you which the Company deems to be adverse to the business or financial interests of the Company. 

For purposes of this offer letter, “Good Reason” shall mean the occurrence of any of the following without your prior written consent:
(i) a material reduction in your base salary or bonus opportunities (other than in connection with an across-the-board Salary or bonus opportunity reduction of not
more than 10% affecting all situated employees of the Company), (ii) a material diminution in your title* or (iii) the relocation of the Company’s headquarters to a location that is more
than 35 miles outside of Baltimore, Maryland. Any event described in (i) through (iii) of this paragraph shall not constitute Good Reason unless (A) you have provided the Company a written notice of termination detailing the alleged event
constituting Good Reason within thirty (30) days of the first occurrence of such event, (B) the Company fails to cure or remedy such event within thirty (30) days following delivery of such notice, and (C) you in fact
resign within thirty (30) days after the expiration of such cure period. 
 If your employment termination occurs after the three-year anniversary of
your employment with the Company, you will be entitled to those severance benefits, if any, provided for under any severance policy or program of the Company as may be in effect at the time of your separation, subject to applicable eligibility
requirements. 
  

	* 	 and/or job duties and responsibilities 

  
 509 S. Exeter Avenue
Suite 202, Baltimore, Maryland 21202: (410) 522-8701 
 www. centrexion.com 

 

 
  

 You acknowledge your obligations to comply with the Company’s policies and procedures, including any
Code of Conduct or Ethics and other compliance guidelines as may be in effect from time to time. Under the Immigration Reform and Control Act of 1986, you must provide proof of your identity and eligibility to work in the United States at the time
of commencement of your employment. 
 The parties hereto acknowledge and agree that this offer letter and the payments and benefits herein, are intended to
comply with, or be exempt from, Section 409A of the Code and shall be interpreted accordingly. In no event whatsoever shall the Company be liable for any additional tax, interest or penalties that may be imposed on you as a result of
Section 409A of the Code. For purposes of Code Section 409A, your right to receive any installment payments pursuant to this offer letter shall be treated as a right to receive a series of separate and distinct payments. lf you are a
“specified employee” (within the meaning of Code Section 409A) as of your separation from service (within the meaning of Code Section 409A), payment of any amounts under this offer letter (or under any severance arrangement
pursuant to this offer letter) which the Company determines constitute the payment of nonqualified deferred compensation (within the meaning of Code Section 409A) and which would otherwise be paid upon your separation from service shall not be
paid before the date that is six months after the date of your separation from service and any amounts that cannot be paid by reason of this limitation shall be accumulated and paid on the first day of the seventh month following the date of your
separation from service (within the meaning of Code Section 409A). 
 You will keep confidential and not disclose to any person other than your spouse,
your accountant, your financial advisor and your lawyer the economic provisions of your employment arrangements. 
 By agreeing below, you represent and
warrant to the Company that you have no restrictions on your activities from current or former employers (other than confidentiality) that would limit you joining the Company or in the performance of your duties for it. 

You agree that the rights and obligations of the Company in connection with your employment may be assigned by the Company at its discretion to any other
entity. 
 Any notices in connection with the terms of this letter shall be made to you at the address listed above unless you provide an updated address
subsequent to your execution of this letter. Any notices due to the Company shall be made in writing, addressed to President, Centrexion Corporation, at the Company’s headquarters. 

You and the Company agree that the terms of this letter shall be construed in accordance with Maryland law, exclusive of its conflicts of laws provision, and
that any disputes relating to the terms of this letter or to your employment with the Company shall be resolved exclusively in either the Courts of the State of Maryland or the United States District Court for the District of Maryland. You hereby
consent to the personal jurisdiction of those courts and waive any argument as to inconvenient forum. 

  
 509 S. Exeter Avenue
Suite 202, Baltimore, Maryland 21202: (410) 522-8701 
 www. centrexion.com 

 

 
  

 If the terms of your employment as outlined above are acceptable, please indicate by signing and dating
below. Please return this offer letter to me together with the enclosed Employee Non-Competition, Non-Solicitation, Confidentiality and Assignment Agreement (execution
of which is a condition of employment) (the “Restrictive Covenant Agreement”). 
 Sincerely, 

 

									
	Centrexion Corporation	 		 	
					
	By:	 	/s/ Kerrie Brady	 		 	Date:	 	5/30/14

									
	Name:	 	Kerrie Brady	 		 		 	

									
	Its:	 	Chief Business Officer	 		 		 	

  

							
	Agreed and Acknowledged,	 		 	
				
	/s/ Peter Hanson	 		 	Date:	 	6/3/14
	Peter Hanson	 		 		 	

  

  
 509 S. Exeter Avenue Suit
202, Baltimore, Maryland 21202: (410) 522-8701 
 www.centrexion.comEXHIBIT 4.1

 

THIS WARRANT AND THE SHARES
ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 ("FEDERAL ACT") OR THE
SECURITIES LAWS OF ANY STATE IN RELIANCE UPON THE EXEMPTIONS CONTAINED THEREIN, AND IN PARTICULAR PARAGRAPH (13) OF SECTION 10-5-9
OF THE GEORGIA SECURITIES LAW. THIS WARRANT AND ANY SHARES ISSUED UPON EXERCISE OF THIS WARRANT MAY NOT BE OFFERED FOR SALE, SOLD,
TRANSFERRED, HYPOTHECATED OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE FEDERAL ACT AND APPLICABLE STATE SECURITIES LAWS
OR THE COMPANY IS SATISFIED THAT SUCH REGISTRATION IS NOT REQUIRED.

 

IN MAKING AN INVESTMENT
DECISION INVESTORS MUST RELY ON THEIR OWN EXAMINATION OF THE COMPANY AND THE TERMS OF THE OFFERING, INCLUDING THE MERITS AND RISKS
INVOLVED.

 

INVESTORS SHOULD BE AWARE
THAT THEY MAY BE REQUIRED TO BEAR THE FINANCIAL RISK OF THIS INVESTMENT FOR AN INDEFINITE PERIOD OF TIME.

 

	
         

        Class A Warrant to Purchase for 500,000 Shares of Common
        Stock

April 16th,
2018

 

NOCERA, INC.

CLASS A WARRANT CERTIFICATE

 

 

1.       Issuance
of Warrant; Term.

 

(a)       For
and in consideration of good and valuable consideration, the receipt and sufficiency of all of which are hereby acknowledged, Nocera,
Inc. (the "Company") hereby grants to ________________________________. ("Holder") the right
to purchase five hundred thousand (500,000) shares of the Company's Common Stock, $.001 par value per share (the "Common
Stock").

 

(b)       The
shares of Common Stock issuable upon exercise of this Warrant are hereinafter referred to as the "Shares." This
Warrant shall be exercisable at any time and from time to time from the date hereof until this Warrant expires at 5:00 P.M. Eastern
time on April 16th, 2023.

 

2.       Exercise
Price. The exercise price (the "Exercise Price") per share for which all or any of the Shares may be purchased
pursuant to the terms of this Warrant shall be Zero Dollars and 50/100ths ($0.50)

 

3.       Exercise.
This Warrant may be exercised by the Holder hereof (but only on the conditions hereafter set forth) as to all or any increment
or increments of ten (10) Shares (or the balance of the Shares if less than that number), upon delivery of written notice of intent
to exercise to the Company’s transfer agent, Mountain Share Transfer at the following address: 2030 Powers Ferry Road SE,
Suite # 212, Atlanta, GA. 30339, Attention: President, or any other address as the Company shall designate in a written notice
to the Holder hereof, together with this Warrant and payment to the Company of the aggregate Exercise Price of the Shares so purchased.
The Exercise Price shall be payable by certified or bank check. Upon exercise of this Warrant, the Company shall as promptly as
practicable, and in any event within fifteen (15) days thereafter, execute and deliver to the Holder of this Warrant a certificate
or certificates for the total number of whole 

    	1 

    	 

    

 

Shares for which this Warrant is being exercised in the names and denominations as
are requested by the Holder. If this Warrant shall be exercised with respect to less than all of the Shares, the Holder shall be
entitled to receive a new Warrant covering the number of Shares in respect of which this Warrant shall not have been exercised,
which new Warrant shall in all other respects be identical to this Warrant. The Company covenants and agrees that it will pay when
due any and all state and federal issue taxes which may be payable in respect of the issuance of this Warrant or the issuance of
any Shares upon exercise of this Warrant.

 

4.       Covenants
and Conditions. The above provisions are subject to the following:

 

(a)       Neither
this Warrant nor the Shares have been registered under the Securities Act of 1933, as amended ("Securities Act"),
or any state securities laws ("Blue Sky Laws"). This Warrant has been acquired for investment purposes and not
with a view to distribution or resale and may not be pledged, hypothecated, sold, made subject to a security interest, or otherwise
transferred without (i) an effective registration statement for the Warrant under the Securities Act and all applicable Blue Sky
Laws, or (ii) an opinion of counsel, which opinion and counsel shall be reasonably satisfactory to the Company and its counsel,
that registration is not required under the Securities Act or under any applicable Blue Sky Laws (the Company hereby acknowledges
that Investment Law Group LLP is acceptable counsel). Transfer of Shares issued upon the exercise of this Warrant shall be restricted
in the same manner and to the same extent as the Warrant, and the certificates representing the Shares shall, subject to Section
6 hereof, bear substantially the following legend:

 

The securities represented by
this certificate have been issued in reliance upon the representation of the Holder that they have been acquired for investment
and not with a view toward the resale or other distribution thereof, and have not been registered under the Securities Act of 1933
(the "Securities Act") or the securities laws of any state in reliance upon the exemptions from registration contained
therein, and may not be offered, sold, transferred, encumbered or otherwise disposed of unless there is an effective registration
statement under the Federal Act and applicable state securities laws relating thereto or the Company is satisfied registration
is not required.

 

The Holder hereof and the Company agree to
execute all other documents and instruments as counsel for the Company reasonably deems necessary to effect the compliance of the
issuance of this Warrant and any shares of Common Stock issued upon exercise hereof with applicable federal and state securities
laws.

 

(b)       The
Company covenants and agrees that all Shares which may be issued upon exercise of this Warrant will, upon issuance and payment
therefor, be legally and validly issued and outstanding, fully paid and nonassessable, free from all taxes, liens, charges and
preemptive rights, if any, with respect thereto or to the issuance thereof. The Company shall at all times reserve and keep available
for issuance upon the exercise of this Warrant that number of authorized but unissued shares of Common Stock as will be sufficient
to permit the exercise in full of this Warrant.

 

5.       Adjustment
of Exercise Price and Number of Shares Issuable. The Exercise Price and the number of Shares (or other securities or property)
issuable upon exercise of this Warrant shall be subject to adjustment from time to time upon the occurrence of any of the events
enumerated in this Section 5.

 

(a)       Common
Stock Reorganization. If the Company shall (i) subdivide or consolidate its outstanding shares of Common Stock (or any
class thereof) into a greater or smaller number of shares, (ii) pay a dividend or make a distribution on its Common Stock (or any
class thereof) in shares of its capital stock, or (iii) issue by reclassification of its Common Stock (or any class thereof) any
shares of its capital stock (any event described in clauses (i), (ii) or (iii) being called a "Common Stock Reorganization"),
then the Exercise Price and the type of securities for which this Warrant is exercisable shall be adjusted immediately so that
the 

    	2 

    	 

    

 

Holder thereafter shall be entitled to receive upon exercise of this Warrant the aggregate number and type of securities that
it would have received if this Warrant had been exercised immediately prior to the Common Stock Reorganization.

 

(b)       Adjustment
in Number of Shares. Upon each adjustment to the Exercise Price pursuant to subsections (a) of this Section 5, this Warrant
shall thereafter evidence the right to receive upon payment of the adjusted Exercise Price that number of Shares obtained by multiplying
the number of Shares previously issuable upon exercise of this Warrant by a fraction, the numerator of which is the Exercise Price
prior to adjustment and the denominator of which is the adjusted Exercise Price.

 

(c)       Capital
Reorganizations. If there shall be any consolidation, merger or amalgamation of the Company with another person or entity
or any acquisition of capital stock of the Company by means of a share exchange, other than a consolidation, merger or share exchange
in which the Company is the continuing corporation or any sale or conveyance of the property of the Company as an entirety or substantially
as an entirety, or any reorganization or recapitalization of the Company (a "Capital Reorganization"), then the Holder
of this Warrant shall no longer have the right to purchase Common Stock, but shall have instead the right to purchase, upon exercise
of this Warrant, the kind and amount of shares of stock and other securities and property (including cash) which the Holder would
have owned or have been entitled to receive pursuant to the Capital Reorganization if this Warrant had been exercised immediately
prior to the effective date of the Capital Reorganization. As a condition to effecting any Capital Reorganization, the Company
or the successor or surviving corporation, as the case may be, shall assume by a supplemental agreement, satisfactory in form,
scope and substance to the Holder (which shall be mailed or delivered to the Holder of this Warrant at the last address of the
Holder appearing on the books of the Company) the obligation to deliver to the Holder shares of stock, securities, cash or property
as, in accordance with the foregoing provisions, the Holder may be entitled to purchase, and all other obligations of the Company
set forth in this Warrant.

 

(d)       Determination
of Fair Market Value. Subject to the provisions set forth below, the fair market value of the Company or of any non-cash
consideration received by the Company upon any Common Stock Distribution shall be determined in good faith by the Board of Directors
of the Company. Upon each determination, the Company shall promptly give notice thereof to the Holder, setting forth in reasonable
detail the calculation of the fair market value and the method and basis of determination thereof (the "Company Determination").
If the Holder shall disagree with the Company Determination and shall, by notice to the 

    	3 

    	 

    

 

Company given within thirty (30) days after
the Company's notice of the Company Determination, elect to dispute the Company Determination, the Company shall, within thirty
(30) days after receipt of the notice, engage an investment bank or other qualified appraisal firm acceptable to the Holder to
make an independent determination of the fair market value of the Company or of any non-cash consideration received by the Company
upon any Common Stock Distribution (the "Appraiser Determination"). The Appraiser Determination shall be final and binding
on the Company and the Holder. The cost of the Appraiser Determination shall be borne by the Company.

 

(e)       Adjustment
Rules. Any adjustments pursuant to this Section 5 shall be made successively whenever an event referred to herein shall
occur. No adjustment shall be made pursuant to this Section 5 in respect of the issuance from time to time of shares of Common
Stock upon the exercise of this Warrant or upon the exercise or conversion of any other Option Securities or Convertible Securities.

 

(f)       Proceedings
Prior to Any Action Requiring Adjustment. As a condition precedent to the taking of any action which would require an adjustment
pursuant to this Section 5, the Company shall take any action which may be necessary, including obtaining regulatory approvals
or exemptions, in order that the Company may thereafter validly and legally issue as fully paid and nonassessable all shares of
Common Stock which the Holder of this Warrant is entitled to receive upon exercise thereof.

 

(g)       Notice
of Adjustment. Not less than ten (10) days prior to the record date or effective date, as the case may be, of any action
which requires or might require an adjustment or readjustment pursuant to this Section 5, the Company shall give notice to the
Holder of the event, describing the event in reasonable detail and specifying the record date or effective date, as the case may
be, and, if determinable, the required adjustment and the computation hereof. If the required adjustment is not determinable at
the time of the notice, the Company shall give notice to the Holder of the adjustment and computation promptly after the adjustment
becomes determinable.

 

6.       Transfer
of Warrant. Subject to the provisions of Section 4 hereof, this Warrant may be transferred, in whole or in part, to any
person or business entity, by presentation of the Warrant to the Company with written instructions for the transfer. Upon the presentation
for transfer, the Company shall promptly execute and deliver a new Warrant or Warrants in the form hereof in the name of the assignee
or assignees and in the denominations specified in the instructions. The Company shall pay all expenses incurred by it in connection
with the preparation, issuance and delivery of Warrants under this Section. Any transferee of this Warrant by acceptance thereof,
agrees to be bound by all of the terms and conditions of this Warrant.

 

7.       Warrant
Holder Not Shareholder; Rights Offering; Preemptive Rights. Except as otherwise provided herein, this Warrant does not
confer upon the Holder any right whatsoever as a shareholder of the Company. Notwithstanding the foregoing, if the Company should
offer to all of the Company's shareholders the right to purchase any securities of the Company, then all shares of Common Stock
that are subject to this Warrant shall be deemed to be outstanding and owned by the Holder and the Holder shall be 

    	4 

    	 

    

 

entitled to
participate in the offer. The Company shall not grant any preemptive rights with respect to any of its capital stock if the preemptive
rights are exercisable upon exercise of this Warrant.

 

8.       Basic
Financial Information.

 

The Company will deliver
to Holder:

 

(a)       As
soon as practicable after the end of each fiscal year of the Company, and in any event within ninety (90) days thereafter, a consolidated
balance sheet of the Company as at the end of such fiscal year, and consolidated statements of operations, cash flow and changes
in equity of the Company for such year, prepared in accordance with GAAP consistently applied and setting forth in each case in
comparative form the figures for the previous fiscal year, all in reasonable detail and audited and reported on by independent
public accountants of recognized national standing selected by the Company.

 

(b)       From
the date the Company becomes subject to the reporting requirements of the Exchange Act, and in lieu of the financial information
required pursuant to Section 8(a), copies of its annual reports and all exhibits thereto and its quarterly reports, if any, respectively,

 

(c)       As
soon as practicable after transmission or occurrence and in any event within ten (10) days thereof, copies of any financial reports
or communications (exclusive of reports or communications relating to the practice of medicine) delivered to any class of the Company's
security Holders or broadly to the financial community, including any filings by the Company with any securities exchange, the
Commission or the National Association of Securities Dealers.

 

(d)              
with reasonable promptness, any other financial data as the Holder may reasonably request.

 

9.       Lost,
Stolen, Mutilated or Destroyed Warrant. If this Warrant is lost, stolen, mutilated or destroyed, the Company may, on such
terms as to indemnity or otherwise as it may in its discretion reasonably impose (which shall, in the case of a mutilated Warrant,
include the surrender thereof), issue a new Warrant of like denomination and tenor as the Warrant so lost, stolen, mutilated or
destroyed. Any such new Warrant shall represent the original contractual obligation of the Company, whether or not the allegedly
lost, stolen, mutilated or destroyed Warrant shall be at any time enforceable by anyone.

 

10.       Piggy
Back Registration Rights: In the event that the Company files a registration statement with the SEC, the Investor may make
a written request (the “Piggy-Back Request”) that the Company include in the proposed Registration all, or a
portion, of the Warrants owned by the Investor, and the shares issuable upon the exercise of the warrants. The Company will use
its commercially reasonable efforts to include in any Registration all Registrable Securities which the Company has been requested
to register pursuant to any timely Piggy-Back Request to the extent required to permit the disposition (in accordance with the
intended methods thereof as aforesaid) of the Registrable Securities so to be registered. The expenses of the registration shall
be paid by the Company.

    	5 

    	 

    

 

11.       Certain
Notices. In case at any time the Company shall propose to:

 

(a)       declare
any cash dividend upon its Common Stock;

 

(b)       declare
any dividend upon its Common Stock payable in stock or make any special dividend or other distribution to the Holders of its Common
Stock;

 

(c)       offer
for subscription to the Holders of any of its Common Stock any additional shares of stock in any class or other rights;

 

(d)       reorganize,
or reclassify the capital stock of the Company, or consolidate, merge or otherwise combine with, or sell all or substantially all
of its assets to, another corporation; or

 

(e)       voluntarily
or involuntarily dissolve, liquidate or wind up of the affairs of the Company;

 

then in any one or more of these events, the
Company shall give to the Holder, by certified or registered mail, (i) at least twenty (20) days' prior written notice of the date
on which the books of the Company shall close or a record shall be taken for the dividend, distribution or subscription rights
or for determining rights to vote in respect of any reorganization, reclassification, consolidation, merger, sale, dissolution,
liquidation or winding up, and (ii) in the case of the reorganization, reclassification, consolidation, merger, sale, dissolution,
liquidation or winding up, at least twenty (20) days' prior written notice of the date when the same shall take place. Any notice
required by clause (i) shall also specify, in the case of any dividend, distribution or subscription rights, the date on which
the Holders of Common Stock shall be entitled thereto, and any notice required by clause (ii) shall specify the date on which the
Holders of Common Stock shall be entitled to exchange their Common Stock for securities or other property deliverable upon the
reorganization, reclassification, consolidation, merger, sale, dissolution, liquidation or winding up, as the case may be.

 

12.       Redemption.
This Warrant shall be redeemable by the Company at $0.01 per share remaining subject hereto after 20 business days' written
notice if the price of the Common Stock closes above $1.00 for 20 consecutive trading days and provided that the Company then
has in effect an effective registration statement with respect to the shares of Common Stock issuable upon exercises of this Warrant.

 

IN WITNESS WHEREOF,
the parties hereto have executed this Warrant as of the date first above written.

 

Nocera, Inc..

 

By:_________________________

Name:Erik S. Nelson

Title:President

 

    	6

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