Document:

Exhibit 10(a)

PERFORMANCE-BASED STOCK APPRECIATION UNIT AGREEMENT

THIS PERFORMANCE BASED STOCK APPRECIATION UNIT AGREEMENT is made as of January 21, 2014 by and between TrustCo Bank Corp NY (the "Company") and Robert M. Leonard (the "Executive").

WHEREAS, consistent with the Company's policy to put a greater emphasis on performance-based compensation for the Company's executive officers and to further align such executive officers' interests with those of the Company's shareholders, the Compensation Committee (the "Committee") of the Company's Board of Directors has recommended that the Executive receive certain incentive compensation based on an increase in the value of the company's common stock and payable in the event the Executive is terminated in connection with a change in control of the Company as defined herein, and the Board of Directors wishes to act upon such recommendation;

NOW, THEREFORE, Company and the Executive hereby agree as follows:

1.       Award of Units. Subject to the terms and conditions set forth in this Agreement, the Company grants to the Executive 300,000 Stock Appreciation Units (each, a "Unit") valued at $6.95 per Unit, which amount is equal to the closing price per share of the Company's common stock, par value $1.00 per share, on the date of this Agreement as reported on the NASDAQ Global Select Market.

(a)    The Units shall be credited to a bookkeeping account established and maintained for the Executive. Such account shall be the record of the Units granted to the Executive under this Agreement, is solely for accounting purposes and shall not require a segregation of any Company assets.

(b)    The Units are granted on the basis of the shares of the common stock of the Company as constituted as of the date of this Agreement. In the event of any change in the outstanding shares of common stock of the Company by reason of a recapitalization, reclassification, reorganization, stock split, reverse stock split, subdivision or combination of shares, stock dividend, other increase or reduction in the number of shares of common stock outstanding, without receiving compensation therefore in money, services of property, or similar transaction, the number of Units held by the Executive shall be proportionately adjusted in a manner that will cause the relationship between the aggregate appreciation in outstanding common stock and earnings per share of the Company and the increase in value of each Unit granted hereunder to remain unchanged as a result of the applicable transaction. Such adjustment shall be made by the Committee, whose determination as to what adjustment shall be made, and the extent thereof, shall be final, binding, and conclusive. Except as expressly provided above, the issue by the Company of shares of stock of any class, or securities convertible into or exchangeable for shares of stock of any class, shall not affect, and no adjustment shall be made to, the number of Units granted under this Agreement. The Executive shall not be entitled to any voting rights, to receive any dividends, or to have the Account credited or increased as a result of any dividends or other distribution with respect to the common stock of the Company except as provided in this Section 1(b).

2.       Vesting. The Units shall become vested upon the following: (i) a Termination of the Executive within two years following a Change in Control or (ii) the occurrence of a Change in Control within 12 months following a Termination of the Executive. For purposes of this Agreement, the terms "Change in Control," and "Termination" shall have the meanings set forth in the Executive's Employment Agreement with the Company and Trustco Bank dated as of November 19, 2013 (the "Employment Agreement").

3.       Valuation of Benefit.

(a)    If the Units vest as provided in Section 2, the Executive shall be entitled to receive from the Company an amount with respect to each Unit in the Executive's Account determined as follows: (i) the greater of the value (determined as provided below) of each vested Unit in the Executive's Account as of (x) the date of the Change in Control or (y) the date of Executive's Termination, in either case (ii) reduced by the value of such Unit as of the date of this Agreement as set forth in Section 1.

(b)    The value of a Unit shall be determined as follows:

(i) If the Company's common stock is listed on an established stock exchange or exchanges, the value of a Unit shall be deemed to be the closing price for shares of the Company's common stock on the applicable date on such stock exchange or exchanges or, if no sale of the Company's common stock has been made on any stock exchange that day, the value of a Unit shall be determined by reference to such price for the next preceding day on which a sale occurred. In the event that no such price is available or if the Company's common stock is not listed on an established stock exchange or exchanges, then the value of a Unit shall be determined by the Compensation Committee of the Company in good faith.

(ii) Notwithstanding Section 3(b)(i), if, in connection with a Change in Control, the shares of the Company's common stock have been converted into securities ("Converted Securities"), or a combination of cash and Converted Securities, that are listed on an established stock exchange or exchanges, the value of a Unit shall be deemed to be the closing price per share of such Converted Securities on the applicable date, multiplied by the number of such Converted Securities into which one share of the Company's common stock was converted in the Change in Control plus the amount, if any, of cash. If no sale of the Converted Securities has been made on any stock exchange on the applicable date, the value of a Unit shall be determined by reference to such price for the next preceding day on which a sale occurred. In the event that no such price is available or if the Converted Securities are not listed on an established stock exchange or exchanges, then the value of a Unit shall be determined by the Company, or a successor thereto, in good faith.

Example: Assume (A) a grant-date value of $5.00 per Unit, (B) a Change in Control in which each share the Company's common stock is converted into the right to receive (x) 0.50 shares of the securities of an acquiring company (that is, Converted Securities) listed on a exchange with a closing price per share on such exchange at the date of the Change in Control of $20 plus (y) $2.50 in cash and (C) the Executive is terminated six months after the Change in Control on a date for which the closing price per share of the Converted Securities on such exchange at the date of the Termination was $15. Based on the foregoing, the value of a Unit on the date of the Change in Control was $12.50 ((0.50 x $20.00) + $2.50) and the value of a Unit on the date of the Termination was $10.00 ((0.50 x 15.00) + $2.50). As such, the value of a Unit as of the Change in Control was higher than the value of a Unit on the date of Termination, and the Executive would be entitled to a cash payment of $7.50 per Unit ($12.50 - $5.00).

4.       Payment. Payment to the Executive of the amount set forth in Section 3 for Units shall be made in a single lump-sum cash payment within ten days after the date the Units vest as provided in Section 2. Within 30 days after the date of such vesting, the Company shall review the amount of any payments made pursuant to Section 3 and shall make any additional payments required if the amounts previously paid were less than the amounts provided for in Section 3.

5.       Restrictions on Transfer. The Units, and any rights and privileges pertaining thereto, may not be transferred, assigned, pledged or hypothecated in any manner, by operation of law or otherwise, other than by will or by the laws of descent and distribution, and shall not be subject to execution, attachment or similar process.

6.       No Restrictions on Termination. As a condition of granting the Unit, the Executive agrees that nothing herein contained shall affect or restrict the right of the Company to terminate his employment at any time for any reason, with or without Good Cause.

7.       Account Status.

(a)    The account provided for under this Agreement shall at all times be entirely unfunded, and no provision shall at any time be made with respect to segregating assets of the Company for payment of any benefits hereunder. Neither the Executive nor any other person shall have any interest in any particular assets of the Company by reason of the right to receive a benefit under this Agreement; the Executive shall have only the rights of a general unsecured creditor of the Company with respect to any rights under this Agreement.

(b)    Notwithstanding the provisions of Section 7(a), the Company may in its discretion make contributions to a rabbi trust for the purpose of accumulating assets to satisfy its obligations hereunder; provided, however, that upon a Change in Control, the Company will make contributions to a rabbi trust in an amount that is sufficient to pay Executive, or his beneficiary, the benefits to which the Executive or such beneficiary would be entitled pursuant to the terms of this Agreement as of the date of the Change in Control (it being understood that the amounts actually payable under this Agreement shall be determined solely pursuant to Section 3). For purposes of this Section 7(b) only, the term "Change in Control" will include (i) an announcement, including but not limited to, a press release, public statement or filing with federal or state securities regulators, of a transaction that would constitute a Change in Control as defined in Section 2 and (ii) the execution of a definitive agreement expressing the intent to accomplish such Change in Control.

8.       Notices. Every notice or other communication relating to this Agreement shall be in writing, and shall be mailed to or delivered to the party for whom it is intended at such address as may from time to time be designated by it in a notice mailed or delivered to the other party as herein provided; provided that, unless and until some other address be so designated, all notices or communications by the Executive to the Company shall be mailed or delivered to the Company as its offices at 5 Sarnowski Drive, Glenville, New York 12302. All notices or communications by the Company to the Executive may be given to the Executive personally or may be mailed to him at the address shown below his signature to this Agreement.

9.       Tax Matters.

(a)    Amounts paid with respect to Units granted under this Agreement are subject to the Company's collection of any taxes required to be withheld by federal, state or local governments.

(b)    To the extent applicable, the Company and the Executive desire and intend for the provisions of this Agreement to comply with the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the "Code"), such that the Executive will not be subject to any additional tax, interest or penalty under Section 409A. As such, the Company may amend or modify this Agreement in any manner to the extent necessary to meet the requirements of Section 409A, as amplified by any Internal Revenue Service or U.S. Treasury Department regulations or guidance as the Company deems appropriate or advisable.

10.    Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the Company, their successors and assigns, including without limitation, any person or entity which may acquire all or substantially all of the Company's assets or business or into which Company may be consolidated or merged, and the Executive, as well as Executive's heirs, executors, administrators and legal representatives as provided in Section 5.

11.    Governing Law. Except to the extent preempted by federal law, this Agreement shall be governed by the laws of the State of New York, without regard to the conflicts of laws principles therein.

12.    Complete Agreement. This Agreement supersedes all prior understandings and agreements between the parties with respect to the subject matter hereof, and may not be amended or modified orally, but only by a writing signed by the parties hereto.

13.    Designation of Beneficiary. In the event that any amount payable to the Executive as provided by this Agreement remains outstanding upon the death of the Executive, the amount due shall be payable to a beneficiary as designated by the Executive by notice to the Company, in the same manner as set forth by this Agreement, or if no beneficiary is named, to the trustee of the Executive's revocable living trust, and if none to the trustee of the Executive's testamentary trust, and if none to the personal representative of the Executive's estate. Whenever the term "Executive" is used in any provision of this Agreement under circumstances where the provision should logically be construed to apply to the executors, the administrators or the person or persons to whom the Units may be transferred, the word "Executive" shall be deemed to include such person or persons.

14.    Survival of Rights. Except as may be expressly provided herein, all of the Executive's rights under this Agreement shall survive the Executive's Termination and/or the termination of this Agreement.

15.    Severability. If any covenants or such other provisions of this Agreement are found to be invalid or unenforceable by a final determination of a court of competent jurisdiction, (a) the remaining terms and provisions hereof shall be unimpaired and (b) the invalid or unenforceable term or provision hereof shall be deemed replaced by a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision hereof.

16.    Enforcement. All expenses (including, without limitation, legal fees and expenses) incurred by Executive in connection with, or in prosecuting or defending, any claim or controversy arising out of or relating to, this Agreement shall be paid by the Company, as incurred by Executive.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement, as of the date set forth above.

	
TRUSTCO BANK CORP NY

	
 

	
EXECUTIVE

	
 

	
 

	
 

	
 

	
 

	
By:

	
/s/ Robert J. McCormick

	
 

	
By:

	
/s/ Robert M. Leonard

	
 

	
 

	
 

	
 

	
 

	
Name:  

	
Robert J. McCormick

	
 

	
Name: 

	
Robert M. Leonard

	
Title:

	
Chief Executive Officer

	
 

	
Address:January 23, 2013

 

Michael Leabman

DvineWave Inc.

207 Veritas Court

San Ramon, CA 94582

 

Re:         Engagement Agreement

 

Dear Mr. Leabman:

 

This letter agreement (the “Agreement”)
confirms the terms and conditions that will govern the DvineWave Inc. (together with its affiliates, subsidiaries, predecessors,
and successors, the “Company”) engagement (the “Engagement”) of MDB Capital Group, LLC (together with
its affiliates, “MDB”) as the Company’s exclusive financial advisor and placement agent in connection with an
offering or series of offerings of Company securities.

 

1.          Exclusive
Appointment; Services.

 

a.           Exclusive
Appointment. The Company hereby appoints MDB to act as its exclusive placement agent in connection with the sale of its securities,
including but not limited to equity, debt, equity-linked securities, or equity capital commitments (“Securities”)
to one or more financial, strategic, accredited, or other investors.1 The transactions currently contemplated consist
of the following: (1) a Bridge Loan of approximately $2 million; (2) a “PIPE” (Private Investment in Public Entity)
offering of approximately $6 million; and (3) a public offering of up to approximately $20 million of Company Securities. However,
it is understood that the manner, size, and timing of the contemplated transactions may change, and more or fewer transactions
may occur, and the exclusive appointment of MDB covers any and all offerings or sales of any type or form, including but not limited
to private placements, registered direct offerings, institutional offerings under Rule 144A and similar arrangements, mergers
and acquisitions, and public offerings, on any basis, agency or underwritten (each, an “Offering”).

 

During the term of this Agreement, the
Company will not, nor will it permit any of its advisors or representatives to, engage any party other than MDB to act as placement
agent or underwriter for any Offering, or to perform any other financial advisory, underwriting, or investment banking services
for the Company. If the Company or, to the Company’s knowledge, any of its subsidiaries, stockholders, members, partners,
affiliates, advisors or representatives, is contacted by any person concerning an Offering of Securities or expressing a desire
to purchase Securities, the Company shall provide to MDB all relevant details of the inquiry.

 

 

1 The term “Securities” shall have the
broadest possible meaning, but shall not include executive incentive equity or other employee or consultant equity grants that
are unrelated to an Offering contemplated herein and shall not include any other securities that are mutually agreed by MDB and
the Company in writing to be excluded from the definition of Securities. MDB recognizes that businesses like the Company may have
an opportunity to exchange equity for intellectual property or for services that are not related to investment of working capital
or financing, and agrees to consider in good faith any request by the Company to exclude from the definition of “Securities”
common stock issued in connection with a transaction that is not a capital raising transaction.

 

    	 

    	 

    

 

MDB Engagement Letter

January 23, 2013

p. 2 of 15

 

b.           Services.
MDB represents and warrants that it is a licensed broker/dealer under applicable federal and state securities law. MDB shall assist
the Company in identifying investors and potential purchasers, carrying out due diligence with respect to any potential Offering,
and analyzing, structuring, and negotiating the contemplated Offering(s) on the terms and conditions set forth herein. In the
case of private Offerings, MDB shall undertake to arrange such transactions on a “best efforts” basis; MDB shall underwrite
public Offerings, if any, on a “firm commitment” basis (any such underwritten public Offering is a “Public Offering”).
However, nothing contained herein constitutes a commitment or guarantee, express or implied, that any Offering will be consummated.
MDB will not have the power or authority to bind the Company to any sale of the Securities, and any Offering will be conducted
at a price and on terms satisfactory to the Company. MDB will have the right, but not the obligation, to determine the allocation
of the Securities among prospective purchasers, if necessary, provided that such allocation is reasonably acceptable to the Company.

 

From
time to time throughout the Engagement, MDB shall propose potential investors to the Company for its review and approval. 
MDB will use commercially reasonable efforts to answer the reasonable questions of Company in connection with Company’s
review and consideration. It is not anticipated that MDB will propose potential investors that are not U.S. persons. MDB
shall seek Company approval (which shall not be unreasonably withheld) prior to contacting any potential investor on behalf of
the Company. The Company shall have two business days in which to object to MDB contacting any such potential investor after MDB
identifies the investor; in the absence of any objection received within that time period, MDB may reasonably presume contact
to be approved. Such contacts as are approved by the Company shall be included in the definition of an “MDB Investor”
for the purposes of Section 2c.

 

2.          Compensation.
As consideration for the services provided under this Agreement, the Company will pay MDB a fee as follows:

 

a.           Fee.
The Company shall pay MDB a cash fee (the “Fee”) equal to ten percent (10%) of the Gross Transaction Value (defined
below) of any Offering, which is due and payable at the time of each closing of an Offering (“Closing”) exclusively
from the proceeds of the Offering (directly from escrow, if an escrow account is used).

 

As used herein, the term
“Gross Transaction Value” shall be any consideration whether paid directly or indirectly to or by the Company, or
an affiliate, or to any of its stockholders, directors, officers or other management personnel, or to any third party at the direction
of the Company, so long as such consideration is paid in connection with an Offering, including, but not limited to:

 

		i.	all cash, Securities or other property actually received;

 

		ii.	the aggregate principal amount of any indebtedness assumed
by investors in connection with the Offering;

 

		iii.	all contingent future payments (including, but not limited
to, milestone payments, royalties, or any other payments based upon future sales, profits or otherwise) as actually received;

 

		iv.	any payments for non-compete covenants or consulting
agreements received from investors;

 

		v.	the net value of any liabilities assumed by investors
or otherwise paid or to be paid by investors or out of proceeds of the Offering; and

 

		vi.	the net value of any excess benefits which are realized
by any party or any stockholder, director, officer, employee or agent thereof as a result of contractual arrangements providing
for benefits to it which are greater than those which would be reasonably expected to available to it on an arm's length basis.

  

    	 

    	 

    

 

MDB Engagement Letter

January 23, 2013

p. 3  of 15

 

If the Gross Transaction Value is paid in whole or in part in the form of Securities, the value of such Securities, for purposes
of calculating MDB’s fee, shall be deemed to be the fair market value thereof on the day prior to the Closing, as the Company
and MDB shall mutually agree; provided, however, that if such Securities consist of freely trading Securities for which there
is an existing public trading market, the fair market value thereof shall be deemed to be the average of the last sales prices
for such Securities on the ten (10) trading days ending five (5) days prior to Closing. With respect to contingent or non-contingent
future payments, the value will be determined, and the payment made, at such future date as actually received.

 

b.           Warrants.
In addition to the Cash Fee, immediately upon Closing, the Company shall sell to MDB warrants (“Warrants”) to purchase
the same type and character of Securities as are issued in the Offering (e.g., Common Stock), in an amount equal to ten percent
(10%) of the aggregate Securities issued in the Offering for the sum of $1,000. Such Warrants will be for a term of five (5) years
at an exercise price equal to 120% (one hundred twenty percent) of the price paid by investors in the Offering. The Warrants will
contain cashless exercise and anti-dilution provisions and representations and warranties normal and customary for warrants issued
to placement agents or underwriters, and will not be callable or terminable prior to the expiration date. No adjustment will be
made to the exercise price or number of shares underlying the Warrants in the event of subsequent financings. Common stock underlying
the Warrants will have identical registration rights as provided to investors in the Offering, including “piggyback”
registration rights on the registrations of the Company or demand registrations (voting with the other registrable securities
to effect any such demand) by any later round of investors. The Company shall bear all costs and expenses of registration, including
the filing and clearing of one or more registration statements. The Warrants may be issued to any persons or entities designated
by MDB.

 

c.           Other
Fee Provisions; Fee Tail. The entire Fee and Warrants will be payable in respect of any other sale or placement of Company
Securities that closes or is in process during the term of this Agreement, regardless of whether such sale has been arranged by
MDB, by another agent, or directly by the Company. Upon termination of this Agreement for any reason, the Company shall promptly
pay MDB its accrued but unpaid fees and unreimbursed expenses incurred up to and as of the date of termination. Notwithstanding
any termination of this Agreement, MDB shall be entitled to the entire Fee and Warrants set forth in Section 2(a)-(b) if, within
two (2) years of the later to occur of (i) the termination of this Agreement or (ii) the last Closing of any Offering arranged
by MDB, the Company consummates or enters into an agreement for the sale of Securities or to obtain financing or other benefit
with any person or entity contacted by MDB in connection with this engagement as approved by the Company pursuant to Section 1b
or with which the Company or any of its agents on behalf of the Company first made contact without the involvement of MDB during
the term of this Engagement (each, an “MDB Investor”). Any and all such fees shall be payable upon the Closing of
any such sale.

 

d.           Expenses.
The Company is responsible for all costs and expenses associated with any Offering of its Securities. Promptly upon request, the
Company shall reimburse MDB for all reasonable out-of-pocket expenses incurred in connection with this Engagement, including but
not limited to reasonable travel, printing, and the fees and expenses of legal counsel and any other independent advisors selected
and retained by MDB (with the Company’s consent, which shall not be unreasonably withheld), subject to the following:

 

i.            MDB
Expenses. With the exception of legal fees and expenses, any single expense in excess of $1,000 (one thousand dollars) will
not be incurred without the Company’s prior approval, which shall not be unreasonably withheld. In addition, the Company’s
obligation to reimburse such ordinary expenses prior to the securing of bridge or other interim financing shall be limited to
the sum of $10,000 (ten thousand dollars). Notwithstanding the foregoing limitation, any reasonable reimbursable expenses incurred
but not reimbursed prior to bridge financing due to said limitation shall be reimbursed after the bridge financing and the cap
shall be thereafter lifted, subject to the Company’s continued right to approve expenses over $1,000. Upon execution of
this Agreement, the Company shall deposit with MDB a fully refundable expense retainer of $10,000 (ten thousand dollars).

 

 

 

    	 

    	 

    

 

MDB Engagement Letter

January 23, 2013

p. 4  of 15

 

ii.         Legal
Expenses. It is understood that the amount of MDB’s legal expenses necessarily depends on the manner and size of any
Offering the Company pursues. Prior to MDB’s engagement of counsel with respect to any Offering, public or private, the
Company shall deposit with MDB a refundable legal fee retainer of $25,000 (twenty-five thousand dollars). With respect to any
single private Offering, the Company shall not be expected to reimburse MDB more than $25,000 (twenty-five thousand dollars) in
legal fees. It is understood that the fees of MDB’s counsel for any Public Offering (“Underwriter’s Counsel”)
will significantly exceed $25,000 but will not exceed the market rate for similar services by counsel of commensurate reputation,
experience, and skill; legal fees for Underwriter’s Counsel shall be negotiated in good faith and approved by the Company
(which approval shall not be unreasonably withheld) prior to commencement of any work by Underwriter’s Counsel with respect
to any Public Offering of Company Securities, it being understood that in no event will MDB advance legal fees on the Company’s
behalf.

 

e.           Payments. All payments
to be made to MDB hereunder will be made in cash by wire transfer of immediately available U.S. funds. Except as expressly set
forth herein, no fee payable to MDB hereunder shall be credited against any other fee due to MDB. The obligation to pay any fee
or expense set forth herein shall be absolute and unconditional and shall not be subject to reduction by way of setoff, recoupment
or counterclaim.

 

3.          Manner
of Offering; Representations and Warranties of the Company. The Company warrants and agrees that:

 

a.           Due
Diligence. The Company will fully cooperate with MDB in any due diligence investigation reasonably requested by MDB in connection
with the Engagement and will use commercially reasonable efforts (or in the case of a request in connection with a Public Offering,
best efforts) to furnish MDB with such information with respect to the business, operations, assets, liabilities, financial condition
and prospects of the Company, including but not limited to financial statements, certificates of its senior officers regarding
such information, and customary opinions of counsel and customary letters or opinions of accountants, and such other documents
as MDB may from time to time reasonably request (the "Company Information") to assist in preparing a private placement
memorandum, registration statement, or similar document for use in connection with any Offering and will provide MDB with access
to the officers, directors, employees, accountants, counsel and other representatives (collectively, the “Representatives”)
of the Company. It is acknowledged that the practice of requesting legal opinions in private Offerings is declining in prevalence
and that the scope of such opinions, when given, is also declining. The Company represents and warrants that all Company Information
provided to MDB, including but not limited to the Company's financial statements, will be complete and correct in all material
respects and will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein
or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading.
The Company acknowledges and confirms that MDB (i) will use and rely upon the accuracy and completeness of all such Company Information
without independently investigating or verifying same; (ii) has not been retained to independently verify any such Company Information;
(iii) assumes no responsibility for the accuracy, completeness, or adequacy for any purpose of such Company Information or any
other information regarding the Company; and (iv) will not make any appraisal of any assets of the Company.

 

b.           Offering
Materials. The Company will be solely responsible for the contents of the private placement memorandum, registration statement,
or other offering document (as such may be amended or supplemented from time to time, and including any information incorporated
therein by reference, the "Offering Materials") and any and all other written or oral communications provided by or
on behalf of the Company to any actual or prospective purchaser of the Securities, and the Company represents and warrants that
the Offering Materials (other than with respect to any financial projections contained therein, if any), registration statement,
and such other communications will not, as of the date of the offer or sale of the Securities, contain any untrue statement of
a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein,
in light of the circumstances under which they were made, not misleading. With respect to any financial projections that may be
contained in the Offering Materials (the “Projections”), the Company represents and warrants that the Projections
will be made with a reasonable basis and in good faith and that the Projections will represent the best then-available estimate
and judgment as to the future financial performance of the Company based on the assumptions to be disclosed therein, which assumptions
will be all the assumptions that are material in forecasting the financial results of the Company and which will reflect the best
then-available estimate of the events, contingencies and circumstances described therein. The Company authorizes MDB to provide
the Offering Materials and related communications to prospective and final Company-approved purchasers of the Securities.

 

    	 

    	 

    

 

MDB Engagement Letter

January 23, 2013

p. 5  of 15

 

If, at any time prior to the completion
of the offer and sale of the Securities, an event occurs that would cause the Offering Materials, registration statement, or other
selling communications to contain an untrue statement of a material fact or to omit to state a material fact necessary in order
to make the statements therein, in light of the circumstances under which they were made, not misleading, or that would cause
a material change in the Company’s view of the likelihood of achievement of the Projections or the reasonableness of the
underlying assumptions, then the Company will notify MDB immediately of such event, and MDB will suspend solicitations of the
prospective purchasers of the Securities until such time as the Company shall prepare a supplement or amendment to the Offering
Materials, registration statement, and selling communications that corrects such statement or omission or revises the Projections
or such assumptions.

 

c.           Reliance
Upon Company Representations and Opinions of Counsel, Etc. The Company agrees that any representations and warranties made
by it to any investor in a private Offering shall be deemed also to be made to MDB for its benefit, and MDB shall be entitled
to rely upon the same opinions of counsel and accountant’s letters that are provided to purchasers of the Securities in
such Offering. Accordingly, the Company shall use commercially reasonable efforts to cause any such opinion or letter delivered
to any investors in the Offering also to be addressed and delivered to MDB, or to cause such counsel or accountant to deliver
to MDB a letter authorizing it to rely upon such opinion or letter. In connection with any Public Offering, the Company and MDB
expect to enter into a mutually agreeable underwriting agreement in customary form, which would be expected to supersede this
Engagement Agreement. For convenience and clarity of public disclosure, the parties agree to cooperate and attempt in good faith
to incorporate Material Surviving Provisions into such underwriting agreement or a short and simple additional agreement or supplement
to such underwriting agreement entered into at or around the time of effectiveness of the underwriting agreement. “Material
Surviving Provisions” shall mean any surviving provisions of this Engagement Agreement that would be material in the context
of such Public Offering and that may be required to be performed after the effectiveness of the registration statement filed in
connection with such Public Offering.

 

d.           Compliance
with State Securities Laws. The Company will be solely responsible for all applicable state securities law compliance with
respect to the offer and sale of the Securities, including the timely making of any filings or taking other actions required under
the applicable securities or “blue sky” laws or regulations of such domestic states as MDB reasonably may specify
and the continuation of qualifications in effect for so long as may be required. The Company will provide MDB with copies of any
pertinent filings at or around the time they are made, and to the extent any filing contains information relating to MDB and/or
the terms of this Engagement, MDB will be provided a copy of the intended filing sufficiently in advance to permit time for review
and comment. Before contacting any possible investor in connection with any Offering and, in any event, before providing any Offering
Materials to any possible investor, MDB will provide to the Company its CRD number and make a good-faith attempt to disclose to
the Company all other broker-dealer or investment adviser registration or exemption information it reasonably believes in its
experience is required to be disclosed to any government authority in any securities filing required in connection with the Offering;
further, MDB will promptly, and in any event within two business days of request from the Company provide such other information
as the Company reasonably believes is required regarding MDB or its associates or affiliates to complete any securities law filing
in order to comply with applicable law. Compliance with state securities laws will be at the Company’s sole expense.

  

    	 

    	 

    

 

MDB Engagement Letter

January 23, 2013

p. 6  of 15

 

e.           Offerings
Exempt from Registration. To the extent that any Offering is designated as one to be made pursuant to an applicable exemption
from registration under the Securities Act of 1933, as amended (the “Act”), the Company agrees that it will not, directly
or indirectly, make any offer or sale of any Securities which would cause the contemplated Offering to fail to be entitled to
the applicable exemption or unreasonably limit the availability of a public registered Offering or an Offering in which MDB will
act. In particular, the Company represents and warrants to MDB that it has not, directly or indirectly, made any offers or sales
of Securities which would cause the Offering of the Securities contemplated hereunder to fail to be entitled to the exemption
from registration afforded by Section 4(2) of the Act. As used herein, the terms “offer” and “sale” have
the meanings specified in Section 2(3) of the Act.

 

To the extent that an
Offering is designated as one to be made pursuant to Regulation D under the Act, the offer and sale of the Securities will comply
with certain requirements of Regulation D, including, without limitation, the requirements that:

 

(i) The Company will
not offer or sell the Securities by means of any form of general solicitation or general advertising.

 

(ii) The Company will
not offer or sell the Securities to any person who is not an “accredited investor” (as defined in Rule 501 under the
Act).

 

(iii) The Company will
exercise reasonable care to assure that the purchasers of the Securities are not underwriters within the meaning of Section 2(11)
of the Act and, without limiting the foregoing, that such purchasers will comply with Rule 502(d) under the Act.

 

(iv) The Company will
not make any filings with the Securities and Exchange Commission with respect to the offer and sale of the Securities without
prior notification to MDB.

 

f.            Audits.
The Company shall be solely responsible for performing, and shall perform, all financial audits necessary to meet the listing
requirements of the NASDAQ, NYSE, or AMEX exchanges, as appropriate. For the avoidance of doubt, no financial audits will be required
in connection with private Offerings.

 

g.           Patent
Drafting Firm. Prior to Closing of an Offering, the Company shall retain a professional patent drafting firm reasonably acceptable
to MDB in terms of scope of services and fees.

 

h.           Additional
Pre-Offering Requirements. Prior to any Offering, the Company shall ensure that its capital structure, employee stock option
plan, and Board of Directors are reasonably acceptable to MDB and, where applicable, the Company shall cause all holders to convert
all notes and preferred shares to Common Stock with the extinguishment of attached rights. As a condition to making any changes
at MDB’s request in connection with this subsection, the Company may require reasonable employment agreements or other protective
agreements be entered into with one or more officers of the Company.

 

j.            Lock-Up
Period. In the event of an IPO, all shares held by principals in the Company, shares received pursuant to a merger, if any,
which closes within ninety days of the IPO closing, all Fee shares or Warrants and all shares received pursuant to exercise of
such Warrants received by MDB hereunder, and all fee shares/warrants and all shares received pursuant to exercise of such Warrants
received by the IP Development Company pursuant to subsection (j) above may not be sold or redeemed for a period of 12 months
following the initial listing on an exchange. Investors in bridge financing, if any, will be locked up for a period of no less
than 180 days following initial listing.

  

    	 

    	 

    

 

MDB Engagement Letter

January 23, 2013

p. 7  of 15

 

k.          Investor
Relations Firm; Investor Conference Calls. For a period of two (2) years from the Closing of a Public Offering, the Company
shall retain an investor relations firm reasonably acceptable to MDB in terms of scope of services and fees, which firm should
have the ability to perform investor relations and product and company branding functions. For a period of two (2) years from
the Closing of a Public Offering, the Company, with the aid of the investor relations firm, will announce and hold investor and
public conference calls at least quarterly, at which the Company will review its quarterly and annual financial results and give
guidance for the financial results of the then fiscal year, which information will also be made available in a press release and
Form 8-K.

 

l.            Post-Offering
Commitments. For a period of two (2) years from the Closing of a Public Offering, the Company shall:

 

(i) subscribe to the
Depository Trust Clearing Corporation weekly transfer sheet reports, and provide such reports to MDB immediately upon receipt;
and

 

(ii) no less than 24
hours prior to making any public filing or announcement, provide to MDB all such proposed public filings and announcements for
its review and comment.

 

4.          Confidentiality.
MDB acknowledges that in connection with the Engagement, the Company will provide MDB with information which the Company considers
to be confidential and which will be marked with some methodology that indicates the Company’s intention to preserve the
information as confidential (“Confidential Information”). MDB agrees to employ all reasonable efforts to keep the
Confidential Information secret and confidential, using no less than the degree of care employed by MDB to preserve and safeguard
its own confidential information, and shall not disclose or reveal the Confidential Information to anyone except its employees,
consultants and contractors who have an obligation of confidentiality with MDB. MDB will not use the Confidential Information
except in connection with its performance of services hereunder, unless disclosure is required by law, court order, or any government,
regulatory or self-regulatory agency or body in the opinion of MDB’s counsel, in which event MDB will provide the Company
with reasonable advance notice of such disclosure. These obligations do not apply to any portion of Confidential Information which:
(a) is or becomes generally available to the public other than through a breach of this Agreement; (b) was rightfully in MDB’s
possession or readily available to MDB from another source not under obligation of secrecy to the Company prior to the disclosure;
(c) is rightfully received by MDB from another source on a non-confidential basis; (d) is disclosed by the Company to an unaffiliated
third party free of any obligation of confidence; (e) is developed by or for MDB without reference to the Company’s Confidential
Information; or (f) is released for disclosure with the Company’s written consent. Notwithstanding any termination
of this Agreement, MDB’s confidentiality obligations shall survive (1) in perpetuity under the Uniform Trade Secrets Act
(“UTSA”) in respect of any Trade Secret as defined by the UTSA, and (2) in respect of any non-Trade Secret, for a
period of two years from the date of disclosure.

 

Notwithstanding any of the foregoing, MDB
is authorized to transmit to any Company-approved prospective investor the following: confidential material furnished by the Company
or prepared by MDB in conjunction with the Company for transmission to prospective investors in a private Offering; and forms
of purchase agreements and any other legal documentation supplied to MDB for transmission to any prospective investor by or on
behalf of the Company. The Company authorizes MDB to execute, on the Company’s behalf, confidentiality agreements in a form
acceptable to the Company with such Company-approved prospective investors.

 

5.          Indemnification.
The Company agrees to indemnify MDB and related persons in accordance with the indemnification agreement attached as Exhibit A,
which is incorporated herein by this reference. The provisions of Exhibit A shall survive any termination or expiration of this
Agreement.

 

    	 

    	 

    

 

MDB Engagement Letter

January 23, 2013

p. 8  of 15

 

6.          Term
and Termination. MDB’s Engagement will commence upon the execution of this Agreement and shall continue in effect for
a period of 180 (one hundred eighty) days (the “Initial Term”). During the Initial Term, this agreement may not be
terminated by the Company absent gross negligence or willful misconduct of MDB. After the expiration of the Initial Term, the
Agreement shall automatically renew and continue in effect until it is terminated by either party with sixty (60) days’
written notice to the other pursuant to Section 19. Upon termination of this Agreement for any reason, the rights and obligations
of the parties hereunder shall terminate, except for the obligations set forth in Sections 2 (including, without limitation, to
the extent payment is required under Section 2(c)), 3(b)-(g), 3(j)-(l), 5,6, 8-19, and Exhibit A, which shall survive termination.

 

7.          Additional
Services; Right of First Refusal. Should the Company request MDB to perform any services or act in any capacity not specifically
addressed in this Agreement, such services or activities shall constitute separate engagements, the terms and conditions of which
will be embodied in separate written agreement(s) and will include appropriate indemnification provisions. The indemnity provisions
of Exhibit A shall apply to any such additional engagements (whether or not covered by a separate written agreement), unless and
until superseded by a written indemnity provision set forth in a subsequent agreement.

  

8.          Other
Transactions; Disclaimers. The Company acknowledges that MDB is engaged in a wide range of investing, investment banking and
other activities (including investment management, corporate finance, securities issuance, trading and research and brokerage
activities) from which conflicting interests or duties, or the appearance thereof, may arise. Information held elsewhere within
MDB but not accessible (absent a breach of internal procedures) to its investment banking personnel providing services to the
Company will not under any circumstances affect MDB’s responsibilities to the Company hereunder. The Company further acknowledges
that MDB and its affiliates have and may continue to have investment banking, broker-dealer and other relationships with parties
other than the Company pursuant to which MDB may acquire information of interest to the Company. MDB shall have no obligation
to disclose to the Company or to use for the Company’s benefit any such non-public information or other information acquired
in the course of engaging in any other transaction (on MDB’s own account or otherwise) or otherwise carrying on the business
of MDB. The Company further acknowledges that from time to time MDB’s independent research department may publish research
reports or other materials, the substance and/or timing of which may conflict with the views or advice of MDB’s investment
banking department and/or which may have an adverse effect on the Company’s interests in connection with the transactions
contemplated hereby or otherwise. In addition, the Company acknowledges that, in the ordinary course of business, MDB may trade
the securities of the Company for its own account and for the accounts of its customers, and may at any time hold a long or short
position in such securities. MDB shall nonetheless remain fully responsible for compliance with federal and state securities laws
in connection with such activities.

 

It is expressly understood and agreed that
MDB has not provided nor is undertaking to provide any advice to the Company relating to legal, regulatory, accounting, or tax
matters. The Company acknowledges and agrees that it has relied and will continue to rely on the advice of its own legal, tax
and accounting advisors in all matters relating to any Offering contemplated hereunder.

 

The Company further acknowledges and agrees
that MDB will act solely as an independent contractor hereunder, and that MDB’s responsibility to the Company is solely
contractual in nature and that MDB does not owe the Company or any other person or entity, including but not limited to its shareholders,
any fiduciary or similar duty as a result of the Engagement or otherwise.

 

The Company agrees that neither MDB nor
any of its controlling persons, affiliates, directors, officers, employees or consultants shall have any liability to the Company
or any person asserting claims on behalf of or in right of the Company for any losses, claims, damages, liabilities or expenses
arising out of or relating to the Engagement, unless it is finally judicially determined that such losses, claims, damages, liabilities
or expenses resulted solely from the gross negligence or willful misconduct of MDB.

 

    	 

    	 

    

 

MDB Engagement Letter

January 23, 2013

p. 9  of 15

 

9.          Work
Product and Announcements. MDB's advice shall be the sole proprietary work product and intellectual property of MDB, and such
advice may not be disclosed, in whole or in part, to third parties other than the Company’s professional advisors, as necessary,
without the prior written permission of MDB unless such disclosure is required by law. The Company acknowledges that MDB, at its
option and expense, and no earlier than the first to occur of (i) the signing of definitive agreements regarding the Offering
or (ii) the public announcement of the Offering by the Company, may place announcements and advertisements or otherwise publicize
the Offering (which may include the reproduction of the Company’s logo and a hyperlink to the Company’s website) on
MDB’s website and in such financial and other newspapers and journals as it may choose, stating that MDB has acted as an
agent in connection with or advised the Company about such Offering.

 

 10.      Complete Agreement; Amendments; Assignment.
This Agreement sets forth the entire understanding of the parties relating to the subject matter hereof and supersedes and cancels
any prior communications, understandings and agreements, whether oral or written, between MDB and the Company. This Agreement
may not be amended or modified except in writing. The rights of MDB hereunder shall be freely assignable to any affiliate of MDB,
and this Agreement shall apply to, inure to the benefit of and be binding upon and enforceable against each of the parties and
their successors and assigns.

 

11.        Third Party Beneficiaries. This Agreement
is intended solely for the benefit of the parties hereto and, with the exception of the rights and benefits conferred upon the
Indemnified Parties by Section 5 and Exhibit A of this Agreement, shall not be deemed or interpreted to confer any rights upon
any third parties.

 

12.         Governing
Law; Jurisdiction; Venue. All aspects of the relationship created by this Agreement shall be governed by and construed in
accordance with the laws of the State of California, applicable to contracts made and to be performed in California, without regard
to its conflicts of laws provisions. All actions and proceedings which are not submitted to arbitration pursuant to Section 13
hereof shall be heard and determined exclusively in the state and federal courts located in the County of Los Angeles, State of
California, and the Company and MDB hereby submit to the jurisdiction of such courts and irrevocably waive any defense or objection
to such forum, on forum non conveniens grounds or otherwise. The parties agree to accept service of process by mail, to their
principal business address, addressed to the chief executive officer and secretary thereof. The parties hereby agree that this
Section 12 shall survive the termination and/or expiration of this Agreement. Each of the Company and MDB will use commercially
reasonable efforts to cooperate in connection with a reasonable request of the other to provide information to facilitate compliance
with applicable law and regulation in connection with their respective performance under this Agreement.

 

13.         Arbitration.
Any dispute, claim or controversy arising out of or relating to this Agreement or the breach, termination, enforcement, interpretation
or validity thereof, including the determination of the scope or applicability of this agreement to arbitrate, shall be determined
by arbitration in Los Angeles (with the exception of claims to enforce the indemnity provision contained herein, which may, at
the option of the party seeking relief, be submitted either to arbitration or to any court of competent jurisdiction). The arbitration
shall be administered either by FINRA Dispute Resolution pursuant to its Code of Arbitration Procedure, or if FINRA cannot or
does not accept the arbitration, by JAMS pursuant to its Streamlined Arbitration Rules and Procedures. Judgment on the Award may
be entered in any court having jurisdiction. This clause shall not preclude parties from seeking provisional remedies in aid of
arbitration from a court of appropriate jurisdiction.

 

    	 

    	 

    

 

MDB Engagement Letter

January 23, 2013

p. 10  of 15

 

The arbitrator may, in the Award, allocate
all or part of the costs of the arbitration, including the fees of the arbitrator and the reasonable attorneys’ fees of
the prevailing party. 

 

The parties hereby agree that this Section
13 shall survive the termination and/or expiration of this Agreement.

 

The Company’s and MDB’s consent
to Arbitration are confirmed by initialing below:

 

	 	 	 
	Company	 	MDB

 

14.         Severability.
Should any one or more covenants, restrictions and provisions contained in this Agreement be held for any reason to be void, invalid
or unenforceable, in whole or in part, such unenforceability will not affect the validity of any other term of this Agreement,
and the invalid provision will be binding to the fullest extent permitted by law and will be deemed amended and construed so as
to meet this intent. To the extent any provision cannot be so amended or construed as a matter of law, the validity of the remaining
provisions shall be deemed unaffected and the illegal or invalid provision will be deemed stricken from this Agreement.

 

15.         Section
Headings. The section headings herein are for convenience of reference only, and shall not limit or otherwise affect the meaning
hereof.

 

16.         Accounting.
Any calculation, computation or accounting that may be required under this Agreement shall be made in accordance and conformity
with the Generally Accepted Accounting Principles and other standards as determined by the Financial Accounting Standards board
and regulatory agencies with appropriate jurisdiction.

 

17.         Counterparts.
This Agreement may be executed via facsimile transmission and may be executed in separate counterparts, each of which shall be
deemed to be an original and all of which together shall constitute a single instrument.

 

18.         Patriot
Act. MDB hereby notifies the Company that pursuant to the requirements of the USA PATRIOT Act (the “Patriot Act”),
it is required to obtain, verify and record information that identifies the Company in a manner that satisfies the requirements
of the Patriot Act. This notice is given in accordance with the requirements of the Patriot Act.

 

19.         Notice.
All notices, demands, and other communications to given pursuant to this Agreement shall be in writing and shall be personally
delivered, sent by overnight delivery using a nationally recognized courier service, sent by facsimile transmission, or emailed.
Notice shall be deemed received: (a) if personally delivered, upon the date of delivery to the address of the receiving party;
(b) if sent by overnight courier, the date actually received by the recipient; (c) if sent by facsimile or email, when sent. The
parties will each promptly notify the other of any changes to the following contact information.

 

	Notices to MDB shall be sent to:	 	Notices to the Company shall be sent to:
	 	 	 
	MDB Capital Group, LLC	 	DvineWave Inc.
	401 Wilshire Blvd., Suite 1020	 	Attention Mr. Michael Leabman
	Santa Monica, California 90401	 	207 Veritas Court
	Fax: (310) 526-5020	 	San Ramon, CA 94582
	Email: d@mdb.com	 	 

 

    	 

    	 

    

 

MDB Engagement Letter

January 23, 2013

p. 11  of 15

 

	 	 	With a copy to Company counsel at:
	 	 	 
	 	 	Much Shelist, P.C.
	 	 	191 North Wacker Drive, Suite 1800 
	 	 	Chicago, IL, 60606
	 	 	Reference #10484

 

    	 

    	 

    

 

MDB Engagement Letter

January 23, 2013

p. 12 of 15

 

If the above accords with your understanding
and agreement, kindly indicate your consent hereto by signing below. We look forward to a long and successful relationship with
you.

 

	 	Very truly yours,
	 	 
	 	MDB CAPITAL GROUP LLC
	 	 
	 	/s/ Anthony DiGiandomenico
	 	By:         Anthony DiGiandomenico, Partner
	 	               Head of Investment
    Banking

 

ACCEPTED AND AGREED TO

AS OF THE DATE FIRST ABOVE WRITTEN:

 

DvineWave Inc.

 

	/s/ Michael
    Leabman	 
	By:	Michael Leabman	 
	 	President	 

 

    	 

    	 

    

 

MDB Engagement Letter

January 23, 2013

p.13  of 15

 

EXHIBIT A

INDEMNIFICATION
AGREEMENT

 

In further consideration of the engagement
by DvineWave Inc. (the “Company”) of MDB Capital Group LLC ("MDB") to act as the Company’s exclusive
placement agent in connection with a potential Offering or Offerings of securities, as such engagement is described in that letter
agreement between us of even date (the “Engagement Agreement”), the Company agrees to indemnify MDB and certain other
persons provided for herein, as follows:

 

A.           Indemnification
Generally. The Company hereby agrees to indemnify and hold harmless MDB Capital, its directors, officers, agents, employees,
members, affiliates, subsidiaries, counsel, and each other person or entity who controls MDB or any of its affiliates within the
meaning of Section 15 of the Securities Act (collectively, the “Indemnified Parties”) to the fullest extent permitted
by law from and against any and all losses, claims, damages, expenses, or liabilities (or actions in respect thereof) (“Losses”),
joint or several, to which they or any of them may become subject under any statute or at common law, and to reimburse such Indemnified
Parties for any reasonable legal or other expense (including but not limited to the cost of any investigation, preparation, response
to third party subpoenas) incurred by them in connection with any litigation or administrative or regulatory action (“Proceeding”),
whether pending or threatened, and whether or not resulting in any liability, insofar as such losses, claims, liabilities, or
litigation arise out of or are based upon (1) the engagement of MDB pursuant to the Engagement Agreement or subsequent agreement
of similar purpose between the Company and MDB (an “Additional Engagement Agreement”); (2) the Offering of Company
Securities to third parties contemplated by the Engagement Agreement or Additional Engagement Agreement, (3) any other matter
relating to any Offering of Company Securities referred to or contemplated by the Engagement Agreement or Additional Engagement
Agreement; (4) any untrue statement or alleged untrue statement of any material fact contained in the private placement memorandum,
offering materials, registration statement, or other offering or selling document (as may be amended or supplemented and including
any information incorporated therein by reference, the “Company Documentation”), or in any other written or oral communication
provided by or on behalf of the Company to any actual or prospective purchaser of Securities (as that term is defined in the Engagement
Agreement), unless such untrue statement or alleged untrue statement arises solely from information supplied by any members, officers,
agents or employees of MDB, in writing specifically for use therein; or (5) the omission or alleged omission to state in the Company
Documentation a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances
under which they were made, not misleading; provided, however, that while the indemnity provisions herein shall
include any and all claims regardless of whether MDB Capital’s sole negligence, active or passive, contributed to losses,
they shall not apply to (i) amounts paid in settlement of any such litigation if such settlement is effected without the consent
of the Company, which consent will not be unreasonably withheld, or (ii) Losses arising solely from the willful misconduct or
gross negligence of Indemnified Parties; and provided that the Company will not be responsible for the fees and
expenses of more than one counsel to all Indemnified Parties, in addition to appropriate local counsel, unless in the reasonable
judgment of any Indemnified Party there exists a potential conflict of interest which would make it inappropriate for one counsel
to represent all such Indemnified Parties.

 

B.           Reimbursement.
The Company will reimburse all Indemnified Parties for all reasonable expenses (including, but not limited to, reasonable fees
and disbursements of no more than one counsel for all Indemnified Parties) incurred by any such Indemnified Parties in connection
with investigating, preparing, and defending any such action or claim, whether or not in connection with pending or threatened
litigation in connection with the transaction to which an Indemnified Parties is a party, promptly as such expenses are incurred
or paid (unless the Indemnified Parties request they be paid in advance pursuant to Subsection C below).

 

    	 

    	 

    

 

MDB Engagement Letter

January 23, 2013

p. 14  of 15

 

C.           Advances.
Notwithstanding any other provision hereof or any other agreement between the parties, the Company shall advance, to the extent
not prohibited by law, all expenses reasonably anticipated to be incurred by or on behalf of the Indemnified Parties in connection
with any Proceeding, whether pending or threatened, within fifteen (15) days of receipt of a statement or statements (“Statement(s)”)
from the Indemnified Parties, or any of them, requesting such advances from time to time.  This advancement obligation shall
include any refundable retainers of counsel retained by Indemnified Parties (as selected by Indemnified Parties in their sole
and absolute discretion), subject to the restriction that the Company shall not be required to advance legal fees of the Indemnified
Persons with respect to more than one (1) law firm that is representing the Indemnified Parties. If, due to conflict or other
issues, the Indemnified Persons engage more than one law firm to represent them (or any of them), the Company’s indemnification
obligations under this Exhibit A shall only apply as against one law firm representing MDB or the majority of the Indemnified
Parties. Any Statement requesting advances shall evidence the expenses anticipated or incurred by the Indemnified Parties with
reasonable particularity and may include only those expenses reasonably expected to be incurred within the 180-day period following
each Statement. In the event some portion of the amounts advanced pursuant to this Section C are unused, or in the event a court
of competent jurisdiction finally determines that the Indemnified Parties are not entitled to be indemnified against certain expenses,
Indemnified Parties shall return the unused or disallowed portion of any advances within ninety (90) days of the final disposition
of any Proceeding to which such advances pertain, together with interest thereon at an annual percentage rate of 6%.

 

D.           Contribution.
If such indemnification is for any reason not available or insufficient to hold an Indemnified Party harmless, the Company agrees
promptly to contribute to the Losses involved in such proportion as is appropriate to reflect the relative benefits received (or
anticipated to be received) by the Company, on the one hand, and by MDB, on the other hand, with respect to the Engagement or
similar services under any Additional Engagement Agreement or, if such allocation is determined by a court or arbitral tribunal
to be unavailable, in such proportion as is appropriate to reflect other equitable considerations such as the relative fault of
the Company on the one hand and of MDB on the other hand; provided, however, that, to the extent permitted by applicable
law, the Indemnified Parties shall not be responsible for amounts which in the aggregate are in excess of the amount of all cash
fees, exclusive of costs, actually received by MDB from the Company at the Closing in connection with the Engagement or similar
services under any Additional Engagement Agreement. Relative benefits to the Company, on the one hand, and to MDB, on the other
hand, with respect to the Engagement shall be deemed to be in the same proportion as (i) the total value received or proposed
to be received by the Company in connection with the Offering, whether or not consummated, bears to (ii) all fees received or
proposed to be received by MDB in connection with the applicable engagement. Relative fault shall be determined, in the case of
Losses arising out of or based on any untrue statement or any alleged untrue statement of a material fact or omission or alleged
omission to state a material fact, by reference to, among other things, whether the untrue or alleged untrue statement of a material
fact or the omission or alleged omission to state a material fact relates to information supplied by the Company to MDB and the
parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such untrue statement or
omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act of 1933,
as amended) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation.

 

E.           No
Liability Without Gross Negligence or Misconduct. The Company agrees that no Indemnified Party shall have any liability to
the Company or its respective owners, successors, heirs, parents, affiliates, security holders or creditors for any Losses, except
to the extent such Losses are determined, by a final, non-appealable judgment by a court or arbitral tribunal of competent jurisdiction,
to have resulted solely from such Indemnified Person’s gross negligence or willful misconduct.

 

F.           Notice.
MDB agrees, promptly upon receipt, to notify the Company in writing of the receipt of written notice of the commencement of any
action against it or against any other Indemnified Parties, in respect of which indemnity may be sought hereunder; however, the
failure so to notify the Company will not relieve it from liability under Sections A above unless and to the extent it did not
otherwise learn of such action and such failure results in the forfeiture by the Company of substantial rights or defenses.

 

    	 

    	 

    

 

MDB Engagement Letter

January 23, 2013

p. 15  of 15

 

G.           Settlement.
The Company will not, without MDB's prior written consent, settle, compromise, or consent to the entry of any judgment in or otherwise
seek to terminate any pending Proceeding in respect of which indemnification may be sought hereunder (whether or not any Indemnified
Party is a party therein) unless the Company has given MDB reasonable prior written notice thereof and such settlement, compromise,
consent or termination includes an unconditional release of each Indemnified Party from any liabilities arising out of such Proceeding.
The Company will not permit any such settlement, compromise, consent or termination to include a statement as to, or an admission
of, fault, culpability or a failure to act by or on behalf of an Indemnified Party, without such Indemnified Party's prior written
consent. No Indemnified Party seeking indemnification, reimbursement or contribution under this Agreement will, without the Company's
prior written consent, settle, compromise, consent to the entry of any judgment in or otherwise seek to terminate any Proceeding
referred to herein or admit fault, culpability or failure to act by or on behalf of the Company or any Indemnified Party.

 

H.           Survival;
Successors. The indemnity, contribution and expense reimbursement obligations set forth herein shall be in addition to any
liability the Company may have to any Indemnified Party at common law or otherwise (but not duplicative of or effective to result
in any multiplicative return of Losses or of any such liability of the Company), and shall remain operative and in full force
and effect notwithstanding the termination of this Agreement, the closing of the contemplated Offering, and any successor of MDB
or any other Indemnified Parties shall be entitled to the benefit of the provisions hereof. Prior to entering into any agreement
or arrangement with respect to, or effecting, any merger, statutory exchange or other business combination or proposed sale or
exchange, dividend or other distribution or liquidation of all or a significant portion of its assets in one or a series of transactions
or any significant recapitalization or reclassification of its outstanding securities that does not directly or indirectly provide
for the assumption of the obligations of the Company set forth herein, the Company will promptly notify MDB in writing thereof
and, if requested by MDB, shall arrange in connection therewith alternative means of providing for the obligations of the Company
set forth herein, including the assumption of such obligations by another party, insurance, surety bonds or the creation of an
escrow, in each case in an amount and on terms and conditions reasonably satisfactory to MDB.

 

I.           Consent
to Jurisdiction; Attorneys’ Fees. Solely for the purpose of enforcing the Company's obligations hereunder, the Company
consents to personal jurisdiction, service and venue in any court proceeding in which any claim subject to this Agreement is brought
by or against any Indemnified Party other than MDB. In any action for enforcement of this indemnity provision, the prevailing
party shall be entitled to recover all costs, including reasonable attorneys’ fees, of bringing such an action.

 

DVINEWAVE INC.

 

	/s/ Michael
    Leabman	 
	By: 	Michael Leabman	 
	 	President

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