Document:

COMMON STOCK GREENSHOE WARRANT

 

ISORAY,
INC.

 

	Greenshoe Shares: [_______	Initial Exercise Date: March 1, 2014
	 	Issue Date : August 29, 2013

 

THIS COMMON STOCK GREENSHOE
WARRANT(the “Greenshoe”) certifies that, for value received, _____________ or its assigns (the “Holder”)
is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on
or after March 1, 2014 (the “Initial Exercise Date”) and on or prior to the close of business on the two year
anniversary of the Issue Date, subject to adjustment as provided in Section 2(g) hereof (the “Termination Date”)
but not thereafter, to subscribe for and purchase from ISORAY, INC., a Minnesota corporation (the “Company”),
up to ______ shares (as subject to adjustment hereunder, the “Greenshoe Shares”) of Common Stock. The purchase
price of one share of Common Stock under this Greenshoe shall be equal to the Exercise Price, as defined in Section 2(c).

 

Section 1.            Definitions.
The following terms used herein have the meanings set forth below:

 

“Business Day”
means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or any day on which
banking institutions in the State of New York are authorized or required by law or other governmental action to close.

 

“Call Date”
has the meaning set forth in Section 2(f).

 

“Common Stock”
means the common stock of the Company, par value $0.001 per share, and any other class of securities into which such securities
may hereafter be reclassified or changed.

 

“Common Stock Equivalents”
means any securities of the Company or the Subsidiaries which would entitle the holder thereof to acquire at any time Common Stock,
including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible
into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock.

 

“Prospectus Supplement”
means the prospectus supplement of the Company to Registration Statement File 333-188579 dated August 29, 2013 pursuant to which
this Greenshoe has been issued.

 

“Shareholder Approval”
means such approval as may be required by the applicable rules and regulations of the NYSE MKT (or any successor entity) from the
shareholders of the Company with respect to the transactions contemplated by this Greenshoe and the Prospectus Supplement including
the issuance of all of the Shares, Preferred Shares and Warrant Shares (as defined in the Prospectus Supplement) in excess of 19.99%
of the issued and outstanding Common Stock on the Closing Date.

 

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

 

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

 

“VWAP” means,
for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then listed or
quoted on a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the nearest preceding
date) on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on a Trading
Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b)  if the OTC Bulletin Board is not a Trading
Market, the volume weighted average price of the Common Stock for such date (or the nearest preceding date) on the OTC Bulletin
Board, (c) if the Common Stock is not then listed or quoted for trading on the OTC Bulletin Board and if prices for the Common
Stock are then reported in the “Pink Sheets” published by OTC Markets, Inc. (or a similar organization or agency succeeding
to its functions of reporting prices), the most recent bid price per share of the Common Stock so reported, or (d) in all
other cases, the fair market value of a share of Common Stock as determined by an independent appraiser selected in good faith
by the Holders of a majority in interest of the Greenshoes then outstanding and reasonably acceptable to the Company, the
fees and expenses of which shall be paid by the Company.

 

Section 2.            Exercise.

 

a)          Exercise
of the purchase rights represented by this Greenshoe may be made, in whole or in part, at any time or times on or after the Initial
Exercise Date and on or before the Termination Date by delivery to the Company (or such other office or agency of the Company as
it may designate by notice in writing to the registered Holder at the address of the Holder appearing on the books of the Company)
of a duly executed facsimile copy of the Notice of Exercise Form annexed hereto, which may be submitted by email. Within three
(3) Trading Days following the date of exercise as aforesaid, the Holder shall deliver the aggregate Exercise Price for the shares
specified in the applicable Notice of Exercise by wire transfer or cashier’s check drawn on a United States bank unless the
cashless exercise procedure specified in Section 2(c) below is properly specified in the applicable Notice of Exercise. No ink-original
Notice of Exercise shall be required, nor shall any medallion guarantee (or other type of guarantee or notarization) of any Notice
of Exercise form be required. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender
this Greenshoe to the Company until the Holder has purchased all of the Greenshoe Shares available hereunder and the Greenshoe
has been exercised in full, in which case, the Holder shall surrender this Greenshoe to the Company for cancellation within three
(3) Trading Days of the date the final Notice of Exercise is delivered to the Company. Partial exercises of this Greenshoe resulting
in purchases of a portion of the total number of Greenshoe Shares available hereunder shall have the effect of lowering the outstanding
number of Greenshoe Shares purchasable hereunder in an amount equal to the applicable number of Greenshoe Shares purchased. The
Holder and the Company shall maintain records showing the number of Greenshoe Shares purchased and the date of such purchases.
The Company shall deliver any objection to any Notice of Exercise Form within one (1) Business Day of receipt of such notice. The
Holder and any assignee, by acceptance of this Greenshoe, acknowledge and agree that, by reason of the provisions of this paragraph,
following the purchase of a portion of the Greenshoe Shares hereunder, the number of Greenshoe Shares available for purchase hereunder
at any given time may be less than the amount stated on the face hereof.

 

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b)          Exercise
Price. The exercise price per share of the Common Stock under this Greenshoe shall be $0.72, subject to adjustment hereunder
(the “Exercise Price”).

 

c)          Cashless
Exercise. If, but only if, at the time of exercise hereof there is no effective registration statement registering, or the
prospectus contained therein is not available for the issuance of the Greenshoe Shares to the Holder, then this Greenshoe may only
be exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled
to receive a number of Greenshoe Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

 

(A) = the
VWAP on the Trading Day immediately preceding the date on which Holder elects to exercise this Greenshoe by means of a “cashless
exercise,” as set forth in the applicable Notice of Exercise;

 

(B) = the
Exercise Price of this Greenshoe, as adjusted hereunder; and

 

(X) =
the number of Greenshoe Shares that would be issuable upon exercise of this Greenshoe in accordance with the terms of this Greenshoe
if such exercise were by means of a cash exercise rather than a cashless exercise.

 

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d)          Mechanics
of Exercise.

 

i.            Delivery
of Greenshoe Shares Upon Exercise. The Company shall use best efforts to cause the Greenshoe Shares purchased hereunder to
be transmitted by the Transfer Agent to the Holder by crediting the account of the Holder’s prime broker with The Depository
Trust Company through its Deposit or Withdrawal at Custodian system (“DWAC”) if the Company is then a participant
in such system and either (A) there is an effective registration statement permitting the issuance of the Greenshoe Shares to or
resale of the Greenshoe Shares by Holder or (B) this Greenshoe is being properly exercised via cashless exercise, and otherwise
by physical delivery to the address specified by the Holder in the Notice of Exercise by the date that is one (1) Trading Day after
the latest of (A) the delivery to the Company of the Notice of Exercise and (B) surrender of this Greenshoe (if required) (such
date, the “Greenshoe Share Delivery Date”). The Greenshoe Shares shall be deemed to have been issued, and Holder
or any other person so designated to be named therein shall be deemed to have become a holder of record of such shares for all
purposes, as of the date the Greenshoe has been exercised, with payment to the Company of the Exercise Price (or by cashless exercise
, if permitted) and all taxes required to be paid by the Holder, if any, pursuant to Section 2(d)(vi) prior to the issuance of
such shares, having been paid. If the Company fails for any reason to deliver to the Holder the Greenshoe Shares subject to a Notice
of Exercise by the Greenshoe Share Delivery Date, the Company shall pay to the Holder, in cash, as liquidated damages and not as
a penalty, for each $1,000 of Greenshoe Shares subject to such exercise (based on the VWAP of the Common Stock on the date of the
applicable Notice of Exercise), $10 per Trading Day (increasing to $20 per Trading Day on the fifth Trading Day after such liquidated
damages begin to accrue) for each Trading Day after such Greenshoe Share Delivery Date until such Greenshoe Shares are delivered
or Holder rescinds such exercise.

 

ii.         Delivery
of New Greenshoes Upon Exercise. If this Greenshoe shall have been exercised in part, the Company shall, at the request of
a Holder and upon surrender of this Greenshoe certificate, at the time of delivery of the Greenshoe Shares, deliver to the Holder
a new Greenshoe evidencing the rights of the Holder to purchase the unpurchased Greenshoe Shares called for by this Greenshoe,
which new Greenshoe shall in all other respects be identical with this Greenshoe.

 

iii.         Rescission
Rights. If the Company fails to cause the Transfer Agent to transmit to the Holder the Greenshoe Shares pursuant to Section
2(d)(i) by the Greenshoe Share Delivery Date, then the Holder will have the right to rescind such exercise.

 

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iv.         Compensation
for Buy-In on Failure to Timely Deliver Greenshoe Shares Upon Exercise. In addition to any other rights available to the Holder,
if the Company fails to cause the Transfer Agent to transmit to the Holder the Greenshoe Shares pursuant to an exercise on or before
the Greenshoe Share Delivery Date, and if after such date the Holder is required by its broker to purchase (in an open market transaction
or otherwise) or the Holder’s brokerage firm otherwise purchases, shares of Common Stock to deliver in satisfaction of a
sale by the Holder of the Greenshoe Shares which the Holder anticipated receiving upon such exercise (a “Buy-In”),
then the Company shall (A) pay in cash to the Holder the amount, if any, by which (x) the Holder’s total purchase price (including
brokerage commissions, if any) for the shares of Common Stock so purchased exceeds (y) the amount obtained by multiplying (1) the
number of Greenshoe Shares that the Company was required to deliver to the Holder in connection with the exercise at issue times
(2) the price at which the sell order giving rise to such purchase obligation was executed, and (B) at the option of the Holder,
either reinstate the portion of the Greenshoe and equivalent number of Greenshoe Shares for which such exercise was not honored
(in which case such exercise shall be deemed rescinded) or deliver to the Holder the number of shares of Common Stock that would
have been issued had the Company timely complied with its exercise and delivery obligations hereunder. For example, if the Holder
purchases Common Stock having a total purchase price of $11,000 to cover a Buy-In with respect to an attempted exercise of shares
of Common Stock with an aggregate sale price giving rise to such purchase obligation of $10,000, under clause (A) of the immediately
preceding sentence the Company shall be required to pay the Holder $1,000. The Holder shall provide the Company written notice
indicating the amounts payable to the Holder in respect of the Buy-In and, upon request of the Company, evidence of the amount
of such loss. Nothing herein shall limit a Holder’s right to pursue any other remedies available to it hereunder, at law
or in equity including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Company’s
failure to timely deliver shares of Common Stock upon exercise of the Greenshoe as required pursuant to the terms hereof.

 

v.           No
Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise
of this Greenshoe. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such exercise, the
Company shall, at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction
multiplied by the Exercise Price or round up to the next whole share.

 

vi.         Charges,
Taxes and Expenses. Issuance of Greenshoe Shares shall be made without charge to the Holder for any issue or transfer tax or
other incidental expense in respect of the issuance of such Greenshoe Shares, all of which taxes and expenses shall be paid by
the Company, and such Greenshoe Shares shall be issued in the name of the Holder or in such name or names as may be directed by
the Holder; provided, however, that in the event Greenshoe Shares are to be issued in a name other than the name
of the Holder, this Greenshoe when surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly executed
by the Holder and the Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer
tax incidental thereto. The Company shall pay all Transfer Agent fees required for same-day processing of any Notice of Exercise.

 

vii.         Closing
of Books. The Company will not close its stockholder books or records in any manner which prevents the timely exercise of this
Greenshoe, pursuant to the terms hereof.

 

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e)          Holder’s
Exercise Limitations. The Company shall not effect any exercise of this Greenshoe, and a Holder shall not have the right to
exercise any portion of this Greenshoe, pursuant to Section 2 or otherwise, to the extent that after giving effect to such issuance
after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates, and
any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates), would beneficially own in
excess of the Beneficial Ownership Limitation (as defined below).  For purposes of the foregoing sentence, the number of shares
of Common Stock beneficially owned by the Holder and its Affiliates shall include the number of shares of Common Stock issuable
upon exercise of this Greenshoe with respect to which such determination is being made, but shall exclude the number of shares
of Common Stock which would be issuable upon (i) exercise of the remaining, nonexercised portion of this Greenshoe beneficially
owned by the Holder or any of its Affiliates and (ii) exercise or conversion of the unexercised or nonconverted portion of any
other securities of the Company (including, without limitation, any other Common Stock Equivalents) subject to a limitation on
conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates. 
Except as set forth in the preceding sentence, for purposes of this Section 2(e), beneficial ownership shall be calculated in accordance
with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder, it being acknowledged by the Holder
that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act
and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation
contained in this Section 2(e) applies, the determination of whether this Greenshoe is exercisable (in relation to other securities
owned by the Holder together with any Affiliates) and of which portion of this Greenshoe is exercisable shall be in the sole discretion
of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether this
Greenshoe is exercisable (in relation to other securities owned by the Holder together with any Affiliates) and of which portion
of this Greenshoe is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation
to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above
shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder.
For purposes of this Section 2(e), in determining the number of outstanding shares of Common Stock, a Holder may rely on the number
of outstanding shares of Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with
the Commission, as the case may be, (B) a more recent public announcement by the Company or (C) a more recent written notice by
the Company or the Transfer Agent setting forth the number of shares of Common Stock outstanding.  Upon the written or oral
request of a Holder, the Company shall within two Trading Days confirm orally and in writing to the Holder the number of shares
of Common Stock then outstanding.  In any case, the number of outstanding shares of Common Stock shall be determined after
giving effect to the conversion or exercise of securities of the Company, including this Greenshoe, by the Holder or its Affiliates
since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation”
shall be 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares
of Common Stock issuable upon exercise of this Greenshoe. The Holder, upon not less than 61 days’ prior notice to the Company,
may increase or decrease the Beneficial Ownership Limitation provisions of this Section 2(e), provided that the Beneficial Ownership
Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to
the issuance of shares of Common Stock upon exercise of this Greenshoe held by the Holder and the provisions of this Section 2(e)
shall continue to apply. Any such increase or decrease will not be effective until the 61st day after such notice is
delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict
conformity with the terms of this Section 2(e) to correct this paragraph (or any portion hereof) which may be defective or inconsistent
with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to
properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this
Greenshoe.

 

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f)         Call
Provision. Subject to the provisions of Section 2(e) and this Section 2(f), if (i) the closing price for each of 10 consecutive
Trading Days (the “Measurement Period”) exceeds $1.25 ($0.85 after the receipt of Shareholder Approval) (in
each case subject to adjustment for forward and reverse stock splits, recapitalizations, stock dividends and the like after the
Issue Date), (ii) the average daily volume of the Common Stock on the Trading Market during the Measurement Period is not less
than $100,000 per Trading Day, and (iii) the Holder is not in possession of any information that constitutes, or might constitute,
material non-public information which was provided by the Company, then the Company may, within 1 Trading Day of the end of such
Measurement Period, call for cancellation of all or any portion of this Greenshoe for which a Notice of Exercise has not yet been
delivered (such right, a “Call”) for consideration equal to $.001 per Greenshoe Share. To exercise this right,
the Company must deliver to the Holder an irrevocable written notice (a “Call Notice”), indicating therein the
portion of unexercised portion of this Greenshoe to which such notice applies. If the conditions set forth below for such Call
are satisfied from the period from the date of the Call Notice through and including the Call Date (as defined below), then any
portion of this Greenshoe subject to such Call Notice for which a Notice of Exercise shall not have been received by the Call Date
will be cancelled at 6:30 p.m. (New York City time) on the tenth Trading Day after the date the Call Notice is received by the
Holder (such date and time, the “Call Date”). Any unexercised portion of this Greenshoe to which the Call Notice
does not pertain will be unaffected by such Call Notice. In furtherance thereof, the Company covenants and agrees that it will
honor all Notices of Exercise with respect to Greenshoe Shares subject to a Call Notice that are tendered through 6:30 p.m. (New
York City time) on the Call Date. The parties agree that any Notice of Exercise delivered following a Call Notice which calls less
than all the Greenshoes shall first reduce to zero the number of Greenshoe Shares subject to such Call Notice prior to reducing
the remaining Greenshoe Shares available for purchase under this Greenshoe. For example, if (A) this Greenshoe then permits the
Holder to acquire 100 Greenshoe Shares, (B) a Call Notice pertains to 75 Greenshoe Shares, and (C) prior to 6:30 p.m. (New York
City time) on the Call Date the Holder tenders a Notice of Exercise in respect of 50 Greenshoe Shares, then (x) on the Call Date
the right under this Greenshoe to acquire 25 Greenshoe Shares will be automatically cancelled, (y) the Company, in the time and
manner required under this Greenshoe, will have issued and delivered to the Holder 50 Greenshoe Shares in respect of the exercises
following receipt of the Call Notice, and (z) the Holder may, until the Termination Date, exercise this Greenshoe for 25 Greenshoe
Shares (subject to adjustment as herein provided and subject to subsequent Call Notices). Subject again to the provisions of this
Section 2(f), the Company may deliver subsequent Call Notices for any portion of this Greenshoe for which the Holder shall not
have delivered a Notice of Exercise. Notwithstanding anything to the contrary set forth in this Greenshoe, the Company may not
deliver a Call Notice or require the cancellation of this Greenshoe (and any such Call Notice shall be void), unless, from the
beginning of the Measurement Period through the Call Date, (1) the Company shall have honored in accordance with the terms of this
Greenshoe all Notices of Exercise delivered by 6:30 p.m. (New York City time) on the Call Date, and (2) a registration statement
shall be effective as to all Greenshoe Shares and the prospectus thereunder available for the issuance to the Holder of all such
Shares, and (3) the Common Stock shall be listed or quoted for trading on a national securities exchange, and (4) there is a sufficient
number of authorized shares of Common Stock for issuance of the Greenshoe Shares, and (5) the issuance of the shares shall not
cause a breach of any provision of Section 2(e) herein. The Company’s right to call the Greenshoes under this Section 2(f)
shall be exercised ratably among the Holders based on each Holder’s initial purchase of Greenshoes. To the extent the exercise
of the Call would cause a breach of any provision of Section 2(e), the Company shall not be permitted to exercise the Call against
such Holder’s Greenshoe to extent the Call would exceed the Beneficial Ownership Limitation of such Holder, but shall retain
the right to exercise a Call against such Holder’s Greenshoe at any time in the future that such Call would otherwise be
permitted under this Section 2(f) without causing a breach of Section 2(e).

 

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g)          Shareholder
Approval. The Company shall hold a special meeting of shareholders (which may also be at the annual meeting of shareholders)
prior to the Initial Exercise Date for the purpose of obtaining Shareholder Approval, with the recommendation of the Company’s
Board of Directors that such proposal be approved, and the Company shall solicit proxies from its shareholders in connection therewith
in the same manner as all other management proposals in such proxy statement and all management-appointed proxyholders shall vote
their proxies in favor of such proposal. Effective upon receipt of Shareholder Approval, (i) the Exercise Price shall be adjusted
to $0.535 (subject to adjustment for any stock splits, reverse splits, stock dividends and similar capital adjustments occurring
after the Issue Date) (ii) the Call Price shall be adjusted to $0.85 (subject to adjustment for any stock splits, reverse splits,
stock dividends and similar capital adjustments occurring after the Issue Date) and (iii) the Termination Date shall be the 18-month
anniversary of the Issue Date.

 

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Section 3.          Certain
Adjustments.

 

a)          Stock
Dividends and Splits. If the Company, at any time while this Greenshoe is outstanding: (i) pays a stock dividend or otherwise
makes a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities payable
in shares of Common Stock (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Company upon
exercise of this Greenshoe), (ii) subdivides outstanding shares of Common Stock into a larger number of shares, (iii) combines
(including by way of reverse stock split) outstanding shares of Common Stock into a smaller number of shares, or (iv) issues by
reclassification of shares of the Common Stock any shares of capital stock of the Company, then in each case the Exercise Price
shall be multiplied by a fraction of which the numerator shall be the number of shares of Common Stock (excluding treasury shares,
if any) outstanding immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding
immediately after such event, and the number of shares issuable upon exercise of this Greenshoe shall be proportionately adjusted
such that the aggregate Exercise Price of this Greenshoe shall remain unchanged. Any adjustment made pursuant to this Section 3(a)
shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend
or distribution and shall become effective immediately after the effective date in the case of a subdivision, combination or re-classification.

 

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b)          Fundamental
Transaction. If, at any time while this Greenshoe is outstanding, (i) the Company, directly or indirectly, in one or more related
transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company, directly or indirectly,
effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially all of its assets
in one or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange offer (whether
by the Company or another Person) is completed pursuant to which holders of Common Stock are permitted to sell, tender or exchange
their shares for other securities, cash or property and has been accepted by the holders of 50% or more of the outstanding Common
Stock, (iv) the Company, directly or indirectly, in one or more related transactions effects any reclassification, reorganization
or recapitalization of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted
into or exchanged for other securities, cash or property, or (v) the Company, directly or indirectly, in one or more related transactions
consummates a stock or share purchase agreement or other business combination (including, without limitation, a reorganization,
recapitalization, spin-off or scheme of arrangement) with another Person or group of Persons whereby such other Person or group
acquires more than 50% of the outstanding shares of Common Stock (not including any shares of Common Stock held by the other Person
or other Persons making or party to, or associated or affiliated with the other Persons making or party to, such stock or share
purchase agreement or other business combination) (each a “Fundamental Transaction”), then, upon any subsequent
exercise of this Greenshoe, the Holder shall have the right to receive, for each Greenshoe Share that would have been issuable
upon such exercise immediately prior to the occurrence of such Fundamental Transaction, at the option of the Holder (without regard
to any limitation in Section 2(e) on the exercise of this Greenshoe), the number of shares of Common Stock of the successor or
acquiring corporation or of the Company, if it is the surviving corporation, and any additional consideration (the “Alternate
Consideration”) receivable as a result of such Fundamental Transaction by a holder of the number of shares of Common
Stock for which this Greenshoe is exercisable immediately prior to such Fundamental Transaction (without regard to any limitation
in Section 2(e) on the exercise of this Greenshoe). For purposes of any such exercise, the determination of the Exercise Price
shall be appropriately adjusted to apply to such Alternate Consideration based on the amount of Alternate Consideration issuable
in respect of one share of Common Stock in such Fundamental Transaction, and the Company shall apportion the Exercise Price among
the Alternate Consideration in a reasonable manner reflecting the relative value of any different components of the Alternate Consideration.
If holders of Common Stock are given any choice as to the securities, cash or property to be received in a Fundamental Transaction,
then the Holder shall be given the same choice as to the Alternate Consideration it receives upon any exercise of this Greenshoe
following such Fundamental Transaction. The Company shall cause any successor entity in a Fundamental Transaction in which the
Company is not the survivor (the “Successor Entity”) to assume in writing all of the obligations of the Company
under this Greenshoe and the other Transaction Documents in accordance with the provisions of this Section 3(b) pursuant to written
agreements and shall, at the option of the Holder, deliver to the Holder in exchange for this Greenshoe a security of the Successor
Entity evidenced by a written instrument substantially similar in form and substance to this Greenshoe which is exercisable for
a corresponding number of shares of capital stock of such Successor Entity (or its parent entity) equivalent to the shares of Common
Stock acquirable and receivable upon exercise of this Greenshoe (without regard to any limitations on the exercise of this Greenshoe)
prior to such Fundamental Transaction, and with an exercise price which applies the exercise price hereunder to such shares of
capital stock (but taking into account the relative value of the shares of Common Stock pursuant to such Fundamental Transaction
and the value of such shares of capital stock, such number of shares of capital stock and such exercise price being for the purpose
of protecting the economic value of this Greenshoe immediately prior to the consummation of such Fundamental Transaction), and
which is reasonably satisfactory in form and substance to the Holder. Upon the occurrence of any such Fundamental Transaction,
the Successor Entity shall succeed to, and be substituted for (so that from and after the date of such Fundamental Transaction,
the provisions of this Greenshoe and the other Transaction Documents referring to the “Company” shall refer instead
to the Successor Entity), and may exercise every right and power of the Company and shall assume all of the obligations of the
Company under this Greenshoe and the other Transaction Documents with the same effect as if such Successor Entity had been named
as the Company herein.

 

c)          Calculations.
All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be.
For purposes of this Section 3, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall
be the sum of the number of shares of Common Stock (excluding treasury shares, if any) issued and outstanding.

 

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d)          Notice
to Holder.

 

i.            Adjustment
to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the Company shall promptly
mail to the Holder a notice setting forth the Exercise Price after such adjustment and any resulting adjustment to the number of
Greenshoe Shares and setting forth a brief statement of the facts requiring such adjustment.

 

ii.         Notice
to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the
Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the
Company shall authorize the granting to all holders of the Common Stock rights or warrants to subscribe for or purchase any shares
of capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall be required in connection
with any reclassification of the Common Stock, any consolidation or merger to which the Company is a party, any sale or transfer
of all or substantially all of the assets of the Company, or any compulsory share exchange whereby the Common Stock is converted
into other securities, cash or property, or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation
or winding up of the affairs of the Company, then, in each case, the Company shall cause to be mailed to the Holder at its last
address as it shall appear upon the Greenshoe Register of the Company, at least 20 calendar days prior to the applicable record
or effective date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the purpose of such
dividend, distribution, redemption, rights or warrants, or if a record is not to be taken, the date as of which the holders of
the Common Stock of record to be entitled to such dividend, distributions, redemption, rights or warrants are to be determined
or (y) the date on which such reclassification, consolidation, merger, sale, transfer or share exchange is expected to become effective
or close, and the date as of which it is expected that holders of the Common Stock of record shall be entitled to exchange their
shares of the Common Stock for securities, cash or other property deliverable upon such reclassification, consolidation, merger,
sale, transfer or share exchange; provided that the failure to mail such notice or any defect therein or in the mailing thereof
shall not affect the validity of the corporate action required to be specified in such notice. To the extent that any notice provided
hereunder constitutes, or contains, material, non-public information regarding the Company or any of the Subsidiaries, the Company
shall simultaneously file such notice with the Commission pursuant to a Current Report on Form 8-K. The Holder shall remain entitled
to exercise this Greenshoe during the period commencing on the date of such notice to the effective date of the event triggering
such notice except as may otherwise be expressly set forth herein.

 

    	11

    	 

    

 

Section 4.            Transfer
of Greenshoe.

 

a)          Transferability.
This Greenshoe and all rights hereunder (including, without limitation, any registration rights) are transferable, in whole or
in part, upon surrender of this Greenshoe at the principal office of the Company or its designated agent, together with a written
assignment of this Greenshoe substantially in the form attached hereto duly executed by the Holder or its agent or attorney and
funds sufficient to pay any transfer taxes payable upon the making of such transfer. Upon such surrender and, if required, such
payment, the Company shall execute and deliver a new Greenshoe or Greenshoes in the name of the assignee or assignees, as applicable,
and in the denomination or denominations specified in such instrument of assignment, and shall issue to the assignor a new Greenshoe
evidencing the portion of this Greenshoe not so assigned, and this Greenshoe shall promptly be cancelled. Notwithstanding
anything herein to the contrary, the Holder shall not be required to physically surrender this Greenshoe to the Company unless
the Holder has assigned this Greenshoe in full, in which case, the Holder shall surrender this Greenshoe to the Company within
three (3) Trading Days of the date the Holder delivers an assignment form to the Company assigning this Greenshoe full. The
Greenshoe, if properly assigned in accordance herewith, may be exercised by a new holder for the purchase of Greenshoe Shares without
having a new Greenshoe issued.

 

b)          New
Greenshoes. This Greenshoe may be divided or combined with other Greenshoes upon presentation hereof at the aforesaid office
of the Company, together with a written notice specifying the names and denominations in which new Greenshoes are to be issued,
signed by the Holder or its agent or attorney. Subject to compliance with Section 4(a), as to any transfer which may be involved
in such division or combination, the Company shall execute and deliver a new Greenshoe or Greenshoes in exchange for the Greenshoe
or Greenshoes to be divided or combined in accordance with such notice. All Greenshoes issued on transfers or exchanges shall be
dated the initial issuance date of this Greenshoe and shall be identical with this Greenshoe except as to the number of Greenshoe
Shares issuable pursuant thereto.

 

c)          Greenshoe
Register. The Company shall register this Greenshoe, upon records to be maintained by the Company for that purpose (the “Greenshoe
Register”), in the name of the record Holder hereof from time to time. The Company may deem and treat the registered
Holder of this Greenshoe as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder,
and for all other purposes, absent actual notice to the contrary.

 

Section 5.            Miscellaneous.

 

a)          No
Rights as Stockholder Until Exercise. This Greenshoe does not entitle the Holder to any voting rights, dividends or other rights
as a stockholder of the Company prior to the exercise hereof as set forth in Section 2(d)(i), except as expressly set forth in
Section 3.

 

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b)          Loss,
Theft, Destruction or Mutilation of Greenshoe. The Company covenants that upon receipt by the Company of evidence reasonably
satisfactory to it of the loss, theft, destruction or mutilation of this Greenshoe or any stock certificate relating to the Greenshoe
Shares, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case of
the Greenshoe, shall not include the posting of any bond), and upon surrender and cancellation of such Greenshoe or stock certificate,
if mutilated, the Company will make and deliver a new Greenshoe or stock certificate of like tenor and dated as of such cancellation,
in lieu of such Greenshoe or stock certificate.

 

c)          Saturdays,
Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required or
granted herein shall not be a Business Day, then, such action may be taken or such right may be exercised on the next succeeding
Business Day.

 

d)          Authorized
Shares.

 

The Company covenants
that, during the period the Greenshoe is outstanding, it will reserve from its authorized and unissued Common Stock a sufficient
number of shares to provide for the issuance of the Greenshoe Shares upon the exercise of any purchase rights under this Greenshoe.
The Company further covenants that its issuance of this Greenshoe shall constitute full authority to its officers who are charged
with the duty of executing stock certificates to execute and issue the necessary Greenshoe Shares upon the exercise of the purchase
rights under this Greenshoe. The Company will take all such reasonable action as may be necessary to assure that such Greenshoe
Shares may be issued as provided herein without violation of any applicable law or regulation, or of any requirements of the Trading
Market upon which the Common Stock may be listed. The Company covenants that all Greenshoe Shares which may be issued upon the
exercise of the purchase rights represented by this Greenshoe will, upon exercise of the purchase rights represented by this Greenshoe
and payment for such Greenshoe Shares in accordance herewith, be duly authorized, validly issued, fully paid and nonassessable
and free from all taxes, liens and charges created by the Company in respect of the issue thereof (other than taxes in respect
of any transfer occurring contemporaneously with such issue).

 

Except and
to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amending
its certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or
sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this
Greenshoe, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions
as may be necessary or appropriate to protect the rights of Holder as set forth in this Greenshoe against impairment. Without limiting
the generality of the foregoing, the Company will (i) not increase the par value of any Greenshoe Shares above the amount payable
therefor upon such exercise immediately prior to such increase in par value, (ii) take all such action as may be necessary or appropriate
in order that the Company may validly and legally issue fully paid and nonassessable Greenshoe Shares upon the exercise of this
Greenshoe and (iii) use commercially reasonable efforts to obtain all such authorizations, exemptions or consents from any public
regulatory body having jurisdiction thereof, as may be, necessary to enable the Company to perform its obligations under this Greenshoe.

 

    	13

    	 

    

 

Before taking
any action which would result in an adjustment in the number of Greenshoe Shares for which this Greenshoe is exercisable or in
the Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary
from any public regulatory body or bodies having jurisdiction thereof.

 

		e)	Jurisdiction. All questions concerning the construction, validity, enforcement and interpretation
of this Greenshoe shall be governed by and construed and enforced in accordance with the internal laws of the State of New York,
without regard to the principles of conflicts of law thereof. Each party agrees that all legal proceedings concerning the interpretations,
enforcement and defense of the transactions contemplated by this Greenshoe (whether brought against a party hereto or its respective
affiliates, directors, officers, shareholders, partners, members, employees or agents) shall be commenced exclusively in the state
and federal courts sitting in the City of New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the
state and federal courts sitting in the City of New York, Borough of Manhattan for the adjudication of any dispute hereunder or
in connection herewith or with any transaction contemplated hereby or discussed herein (including with respect to the enforcement
of this Greenshoe), and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it
is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is improper or is an inconvenient
venue for such proceeding. Each party hereby irrevocably waives personal service of process and consents to process being served
in any such suit, action or proceeding by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence
of delivery) to such party at the address in effect for notices to it under this Greenshoe and agrees that such service shall constitute
good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right
to serve process in any other manner permitted by law. If either party shall commence an action, suit or proceeding to enforce
any provisions of this Greenshoe, the prevailing party in such action, suit or proceeding shall be reimbursed by the other party
for its reasonable attorneys’ fees and other costs and expenses incurred with the investigation, preparation and prosecution
of such action or proceeding. IN ANY ACTION, SUIT, OR PROCEEDING IN ANY JURISDICTION BROUGHT BY ANY PARTY AGAINST ANY OTHER
PARTY, THE PARTIES EACH KNOWINGLY AND INTENTIONALLY, TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY ABSOLUTELY, UNCONDITIONALLY,
IRREVOCABLY AND EXPRESSLY WAIVES FOREVER TRIAL BY JURY.

 

    	14

    	 

    

 

f)           Nonwaiver
and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate
as a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies. Without limiting any other provision
of this Greenshoe, if the Company willfully and knowingly fails to comply with any provision of this Greenshoe, which results in
any material damages to the Holder, the Company shall pay to the Holder such amounts as shall be sufficient to cover any costs
and expenses including, but not limited to, reasonable attorneys’ fees, including those of appellate proceedings, incurred
by the Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder.

 

g)          Notices.
Any and all notices or other communications or deliveries to be provided by the Holders hereunder including, without limitation,
any Notice of Exercise, shall be in writing and delivered by email, personally, by facsimile, or sent by a nationally recognized
overnight courier service, addressed to the Company, at the principal offices of the Company Attention: Controller. Any
and all notices or other communications or deliveries to be provided by the Company hereunder shall be in writing and delivered
by email, personally, by facsimile, or sent by a nationally recognized overnight courier service addressed to each Holder at the
facsimile number or address of such Holder appearing on the books of the Company, or if no such facsimile number or address appears
on the books of the Company, at the principal place of business of such Holder, as set forth in the books of the Company. Any notice
or other communication or deliveries hereunder shall be deemed given and effective on the earliest of (i) the date of transmission,
if such notice or communication is delivered via facsimile at the facsimile number set forth in this Section prior to 5:30 p.m.
(New York City time) on any date, (ii) the next Trading Day after the date of transmission, if such notice or communication is
delivered via facsimile at the facsimile number set forth in this Section on a day that is not a Trading Day or later than 5:30
p.m. (New York City time) on any Trading Day, (iii) the second Trading Day following the date of mailing, if sent by U.S. nationally
recognized overnight courier service, or (iv) upon actual receipt by the party to whom such notice is required to be given.

 

h)          Limitation
of Liability. No provision hereof, in the absence of any affirmative action by the Holder to exercise this Greenshoe to purchase
Greenshoe Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the
Holder for the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by the
Company or by creditors of the Company.

 

i)           Remedies.
The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled
to specific performance of its rights under this Greenshoe. The Company agrees that monetary damages would not be adequate compensation
for any loss incurred by reason of a breach by it of the provisions of this Greenshoe and hereby agrees to waive and not to assert
the defense in any action for specific performance that a remedy at law would be adequate.

 

    	15

    	 

    

 

j)           Successors
and Assigns. Subject to applicable securities laws, this Greenshoe and the rights and obligations evidenced hereby shall inure
to the benefit of and be binding upon the successors and permitted assigns of the Company and the successors and permitted assigns
of Holder. The provisions of this Greenshoe are intended to be for the benefit of any Holder from time to time of this Greenshoe
and shall be enforceable by the Holder or holder of Greenshoe Shares.

 

k)          Amendment.
This Greenshoe may be modified or amended or the provisions hereof waived with the written consent of the Company and
the Holder.

 

l)           Severability.
Wherever possible, each provision of this Greenshoe shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Greenshoe shall be prohibited by or invalid under applicable law, such provision shall be ineffective
to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions
of this Greenshoe.

 

m)         Headings.
The headings used in this Greenshoe are for the convenience of reference only and shall not, for any purpose, be deemed a part
of this Greenshoe.

 

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

 

(Signature Page Follows)

 

    	16

    	 

    

 

IN WITNESS WHEREOF,
the Company has caused this Greenshoe to be executed by its officer thereunto duly authorized as of the date first above indicated.

 

	 	Isoray, inc.
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	17

    	 

    

 

NOTICE OF EXERCISE

 

		To:	isoray, inc.

 

(1)  The undersigned
hereby elects to purchase ________ Greenshoe Shares of the Company pursuant to the terms of the attached Greenshoe (only if exercised
in full), and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes, if any.

 

(2)  Payment
shall take the form of (check applicable box):

 

 ̈
in lawful money of the United States; or

 

 ̈
[if permitted the cancellation of such number of Greenshoe Shares as is necessary, in accordance with the formula set forth in
subsection 2(c), to exercise this Greenshoe with respect to the maximum number of Greenshoe Shares purchasable pursuant to the
cashless exercise procedure set forth in subsection 2(c).

 

(3)  Please
issue said Greenshoe Shares in the name of the undersigned or in such other name as is specified below:

 

_______________________________

 

The Greenshoe Shares shall be delivered
to the following DWAC Account Number:

 

_______________________________

 

_______________________________

 

_______________________________

 

[SIGNATURE
OF HOLDER]

 

Name of Investing Entity: __________________________________________________________________________

Signature of Authorized Signatory of
Investing Entity: ___________________________________________________

Name of Authorized Signatory: _____________________________________________________________________

Title of Authorized Signatory: _______________________________________________________________________

Date: _________________________________________________________________________________________

 

    	 

    	 

    

 

EXHIBIT B

 

ASSIGNMENT
FORM

 

(To assign the
foregoing Greenshoe, execute this form and supply required information. Do not use this form to purchase shares.)

 

FOR VALUE RECEIVED,
the foregoing Greenshoe and all rights evidenced thereby are hereby assigned to

 

	Name:	 
	 	(Please Print)
	 	 
	Address:	 
	 	(Please Print)

 

Dated: _______________ __, ______

 

	Holder’s Signature:	 	 
	 	 	 
	Holder’s Address:Exhibit 10.1

 

SPLIT-OFF AGREEMENT

 

This SPLIT-OFF AGREEMENT,
dated as of August 23, 2013 (this “Agreement”), is entered into by and among Neurotrope,
Inc. (successor by merger to BlueFlash Communications, Inc.), a Nevada corporation (the “Parent”), (“Seller”),
BlueFlash Communications Corp, a Nevada corporation (“Split-Off Subsidiary”), and Marissa Watson (“Buyer”).

 

R E C I T A L S:

 

WHEREAS, Seller is
the owner of all of the issued and outstanding capital stock of Split-Off Subsidiary; Split-Off Subsidiary is a wholly owned subsidiary
of Seller which will acquire the business assets and liabilities previously held by Seller; and Seller has no other businesses
or operations prior to the Merger (as defined herein);

 

WHEREAS, contemporaneously
with the execution of this Agreement, Seller, Neurotrope BioScience, Inc., a Delaware corporation
(“PrivateCo”), and a newly -formed wholly -owned Delaware subsidiary of Seller, Neurotrope
Acquisition Corp. (“Acquisition Sub”), will enter into an Agreement and Plan of Merger and Reorganization
(the “Merger Agreement”) pursuant to which Acquisition Sub will merge with and into PrivateCo with PrivateCo
remaining as the surviving entity (the “Merger”); and the equity holders of PrivateCo will receive securities
of Seller in exchange for their equity interests in PrivateCo;

 

WHEREAS, the execution
and delivery of this Agreement is required by PrivateCo as a condition to its execution of the Merger Agreement, and the consummation
of the assignment, assumption, purchase and sale transactions contemplated by this Agreement is also a condition to the completion
of the Merger pursuant to the Merger Agreement, and Seller has represented to PrivateCo in the Merger Agreement that the transactions
contemplated by this Agreement will be consummated contemporaneously with the closing of the Merger, and PrivateCo relied on such
representation in entering into the Merger Agreement;

 

WHEREAS, Buyer desires
to purchase the Shares (as defined in Section 2.1) from Seller, and to assume, as between Seller and Buyer, all responsibility
for any debts, obligations and liabilities of Seller (prior to the Merger) and Split-Off Subsidiary, on the terms and subject to
the conditions specified in this Agreement; and

 

WHEREAS, Seller desires
to sell and transfer the Shares to Buyer, on the terms and subject to the conditions specified in this Agreement;

 

NOW, THEREFORE, in
consideration of the premises and the covenants, promises and agreements herein set forth and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending legally to be bound, agree as follows:

 

		I.	ASSIGNMENT AND ASSUMPTION OF SELLER’S ASSETS
AND LIABILITIES.

 

Subject to the terms and conditions provided
below:

 

    	 

    	 

    

 

1.1Assignment
of Assets. Seller hereby contributes, assigns, conveys and transfers to Split-Off Subsidiary, and Split-Off Subsidiary
hereby receives, acquires and accepts, all assets and properties of Seller as of the Closing Date (as defined below) immediately
prior to giving effect to the Effective Time, including but not limited to the following, but excluding in all cases (i) the
right, title and assets of Seller in, to and under the Transaction Documents, and (ii) the capital stock of PrivateCo and Split-Off
Subsidiary:

 

(a)all cash and cash
equivalents (having an approximate value of $0);

 

(b)all accounts receivable
(having an approximate value of $0);

 

(c)all inventories
of raw materials, work in process, parts, supplies and finished products;

 

(d)all right, title
and interest, of record, beneficial or otherwise, in and to and stock, membership interests, partnership interests or other equity
or ownership interests in any corporation, limited liability company, partnership or other entity, and all bonds, debentures, notes
or other securities;

 

(e)all of Seller’s
rights, title and interests in, to and under all contracts, agreements, leases, licenses (including software licenses), supply
agreements, consulting agreements, commitments, purchase orders, customer orders and work orders, and including all of Seller’s
rights thereunder to use and possess equipment provided by third parties, and all representations, warranties, covenants and guarantees
related to the foregoing (provided that, to the extent any of the foregoing or any claim or right or benefit arising thereunder
or resulting therefrom is not assignable by its terms or the assignment thereof shall require the consent or approval of another
party thereto, this Agreement shall not constitute an assignment thereof if an attempted assignment would be in violation of the
terms thereof or if such consent is not obtained prior to the Effective Time, and in lieu thereof Seller shall reasonably cooperate
with Split-Off Subsidiary in any reasonable arrangement designed to provide Split-Off Subsidiary the benefits thereunder or any
claim or right arising thereunder);

 

(f)all intellectual
property, including but not limited to issued patents, patent applications (whether or not patents are issued thereon and whether
modified, withdrawn or resubmitted), unpatented inventions, product designs, copyrights (whether registered or unregistered), know-how,
technology, trade secrets, technical information, notebooks, drawings, software, computer coding (both object and source) and all
documentation, manuals and drawings related thereto, trademarks or service marks and applications therefor, unregistered trademarks
or service marks, trade names, logos and icons and all rights to sue or recover for the infringement or misappropriation thereof;

 

(g)all fixed assets,
including but not limited to the machinery, equipment, furniture, vehicles, office equipment and other tangible personal property
owned or leased by Seller;

 

(h)all customer lists,
business records, customer records and files, customer financial records, and all other files and information related to customers,
all customer proposals, all open service agreements with customers and all uncompleted customer contracts and agreements; and

 

    	2

    	 

    

 

(i)to the extent
legally assignable, all licenses, permits, certificates, approvals and authorizations issued by Governmental Entities and necessary
to own, lease or operate the assets and properties of Seller and to conduct Seller’s business as it is presently conducted;

 

all of the foregoing being referred to
herein as the “Assigned Assets.”

 

1.2Assignment
and Assumption of Liabilities. Seller hereby assigns to Split-Off Subsidiary, and Split-Off Subsidiary hereby assumes and
agrees to pay, honor and discharge all debts, adverse claims, liabilities, judgments and obligations, including tax obligations,
of Seller as of the Closing Date immediately prior to the Effective Time, whether accrued, contingent or otherwise and whether
known or unknown, including those arising under any law (including the common law) or any rule or regulation of any Governmental
Entity or imposed by any court or any arbitrator in a binding arbitration resulting from, arising out of or relating to the assets,
activities, operations, actions or omissions of Seller, or products manufactured or sold thereby or services provided thereby,
or under contracts, agreements (whether written or oral), leases, commitments or undertakings thereof, but excluding
in all cases the obligations of Seller under the Transaction Documents (all of the foregoing being referred to herein as the
“Assigned Liabilities”).

 

The assignment and
assumption of Seller’s assets and liabilities provided for in this Article I is referred to as the “Assignment.”

 

		II.	PURCHASE AND SALE OF STOCK.

 

2.1Purchased
Shares. Subject to the terms and conditions provided below, Seller shall sell and transfer to Buyer and Buyer shall purchase
from Seller, on the Closing Date (as defined in Section 3.1), all of the issued and outstanding shares of capital stock of Split-Off
Subsidiary (the “Shares”), as set forth in Exhibit A attached hereto.

 

2.2Purchase
Price. The purchase price for the Shares shall be the transfer and delivery by Buyer to Seller of the type and number of
shares of common stock and other securities of Seller that Buyer owns (the “Purchase Price Securities”), as
set forth in Exhibit A attached hereto, deliverable as provided in Section 3.3.

 

		III.	CLOSING.

 

3.1Closing.
The closing of the transactions contemplated in this Agreement (the “Closing”) shall take place simultaneously
with the closing of the Merger immediately prior to the Effective Time. The date on which the Closing occurs shall be referred
to herein as the “Closing Date.”

 

3.2Transfer
of Shares. At the Closing, Seller shall deliver to Buyer certificates representing the Shares purchased by Buyer, duly
endorsed to Buyer or as directed by Buyer, which delivery shall vest Buyer with good and marketable title to such Shares, free
and clear of all liens and encumbrances.

 

    	3

    	 

    

 

3.3Payment
of Purchase Price. At the Closing, Buyer shall deliver to Seller a certificate or certificates representing Buyer’s
Purchase Price Securities duly endorsed to Seller, which delivery shall vest Seller with good and marketable title to the Purchase
Price Securities, free and clear of all liens and encumbrances.

 

3.4Transfer
of Records. On or before the Closing, Seller shall transfer to Split-Off Subsidiary all existing corporate books and records
in Seller’s possession relating to Split-Off Subsidiary and its business, including but not limited to all agreements, litigation
files, real estate files, personnel files and filings with governmental agencies; provided, however, when any such documents
relate to both Seller and Split-Off Subsidiary, only copies of such documents need be furnished. On or before the Closing, Buyer
and Split-Off Subsidiary shall transfer to Seller all existing corporate books and records in the possession of Buyers or Split-Off
Subsidiary relating to Seller, including but not limited to all corporate minute books, stock ledgers, certificates and corporate
seals of Seller and all agreements, litigation files, real property files, personnel files and filings with governmental agencies;
provided, however, when any such documents relate to both Seller and Split-Off Subsidiary or its business, only copies of
such documents need be furnished.

 

3.5Instruments
of Assignment. At the Closing, Seller and Split-Off Subsidiary shall deliver to each other such instruments providing for
the Assignment as the other may reasonably request (the “Instruments of Assignment”).

 

		IV.	BUYER’S REPRESENTATIONS AND WARRANTIES.
Buyer represents and warrants to Seller and Split-Off Subsidiary that:

 

4.1Capacity
and Enforceability. Buyer has the legal capacity to execute and deliver this Agreement and the documents to be executed
and delivered by Buyer at the Closing pursuant to the transactions contemplated hereby. This Agreement and all such documents constitute
valid and binding agreements of Buyer, enforceable in accordance with their terms.

 

4.2Compliance.
Neither the execution and delivery of this Agreement nor the consummation of the transactions contemplated hereby by Buyer will
result in the breach of any term or provision of, or constitute a default under, or violate any agreement, indenture, instrument,
order, law or regulation to which Buyer is a party or by which Buyer is bound.

 

    	4

    	 

    

 

4.3Purchase
for Investment. Buyer is financially able to bear the economic risks of acquiring the Shares and the other transactions
contemplated hereby, and has no need for liquidity in his or her investment in the Shares. Buyer has such knowledge and experience
in financial and business matters in general, and with respect to businesses of a nature similar to the business of Split-Off Subsidiary
(after giving effect to the Assignment), so as to be capable of evaluating the merits and risks of, and making an informed business
decision with regard to, the acquisition of the Shares and the other transactions contemplated hereby. Buyer is acquiring the Shares
solely for his or her own account and not with a view to or for resale in connection with any distribution or public offering thereof,
within the meaning of any applicable securities laws and regulations, unless such distribution or offering is registered under
the Securities Act of 1933, as amended (the “Securities Act”), or an exemption from such registration is available.
Buyer has (i) received all the information he or she has deemed necessary to make an informed decision with respect to the acquisition
of the Shares and the other transactions contemplated hereby; (ii) had an opportunity to make such investigation as he or she has
desired pertaining to Split-Off Subsidiary (after giving effect to the Assignment) and the acquisition of an interest therein and
the other transactions contemplated hereby, and to verify the information which is, and has been, made available to him or her;
and (iii) had the opportunity to ask questions of Seller concerning Split-Off Subsidiary (after giving effect to the Assignment).
Buyer acknowledges that Buyer is a current or former director and officer of Seller, and a current director and officer of Split-Off
Subsidiary and, as such, has actual knowledge of the business, operations and financial affairs of Split-Off Subsidiary (after
giving effect to the Assignment). Buyer has received no public solicitation or advertisement with respect to the offer or sale
of the Shares. Buyer realizes that the Shares are “restricted securities” as that term is defined in Rule 144 promulgated
by the Securities and Exchange Commission under the Securities Act, the resale of the Shares is restricted by federal and state
securities laws and, accordingly, the Shares must be held indefinitely unless their resale is subsequently registered under the
Securities Act or an exemption from such registration is available for their resale. Buyer understands that any resale of the Shares
by him or her must be registered under the Securities Act (and any applicable state securities law) or be effected in circumstances
that, in the opinion of counsel for Split-Off Subsidiary at the time, create an exemption or otherwise do not require registration
under the Securities Act (or applicable state securities laws). Buyer acknowledges and consents that certificates now or hereafter
issued for the Shares will bear a legend substantially as follows:

 

THE SECURITIES EVIDENCED BY THIS CERTIFICATE
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR QUALIFIED UNDER ANY
APPLICABLE STATE SECURITIES LAWS (THE “STATE ACTS”), HAVE BEEN ACQUIRED FOR INVESTMENT AND MAY NOT BE SOLD, PLEDGED,
HYPOTHECATED OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO A REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND QUALIFICATION UNDER
THE STATE ACTS OR PURSUANT TO EXEMPTIONS FROM SUCH REGISTRATION OR QUALIFICATION REQUIREMENTS (INCLUDING, IN THE CASE OF THE SECURITIES
ACT, THE EXEMPTIONS AFFORDED BY SECTION 4(1) OF THE SECURITIES ACT AND RULE 144 THEREUNDER). AS A PRECONDITION TO ANY SUCH TRANSFER,
THE ISSUER OF THESE SECURITIES SHALL BE FURNISHED WITH AN OPINION OF COUNSEL OPINING AS TO THE AVAILABILITY OF EXEMPTIONS FROM
SUCH REGISTRATION AND QUALIFICATION AND/OR SUCH OTHER EVIDENCE AS MAY BE SATISFACTORY THERETO THAT ANY SUCH TRANSFER WILL NOT VIOLATE
THE SECURITIES LAWS.

 

Buyer understands that
the Shares are being sold to him or her pursuant to the exemption from registration contained in Section 4(1) of the Securities
Act and that Seller is relying upon the representations made herein as one of the bases for claiming the Section 4(1) exemption.

 

    	5

    	 

    

 

4.4Liabilities.
Following the Closing, Seller will have no liability for any debts, liabilities or obligations of Split-Off Subsidiary or its business
or activities, or the business or activities of Seller prior to the Closing that are unrelated to the business of PrivateCo, and
there are no outstanding guaranties, performance or payment bonds, letters of credit or other contingent contractual obligations
that have been undertaken by Seller directly or indirectly in relation to Split-Off Subsidiary or its business, or the business
of Seller prior to the Closing that are unrelated to the business of PrivateCo, and that may survive the Closing.

 

4.5Title
to Purchase Price Securities. Buyer is the sole record and beneficial owner of the Purchase Price Securities. At Closing,
Buyer will have good and marketable title to the Purchase Price Securities, which Purchase Price Securities are, and at the Closing
will be, free and clear of all options, warrants, pledges, claims, liens and encumbrances, and any restrictions or limitations
prohibiting or restricting transfer to Seller, except for restrictions on transfer as contemplated by applicable securities laws.

 

V.           SELLER’S AND SPLIT-OFF
SUBSIDIARY’S REPRESENTATIONS AND WARRANTIES. Seller and Split-Off Subsidiary, as applicable, represent and warrant
to Buyer that:

 

5.1Organization
and Good Standing. Each of Seller and Split-Off Subsidiary is a corporation duly incorporated, validly existing, and in
good standing under the laws of the State of Nevada.

 

5.2Authority
and Enforceability. The execution and delivery of this Agreement and the documents to be executed and delivered at the
Closing pursuant to the transactions contemplated hereby, and performance in accordance with the terms hereof and thereof, have
been duly authorized by Seller and Split-Off Subsidiary and all such documents constitute valid and binding agreements of Seller
and Split-Off Subsidiary enforceable in accordance with their terms.

 

5.3Title
to Shares. Seller is the sole record and beneficial owner of the Shares. At Closing, Seller will have good and marketable
title to the Shares, which Shares are, and at the Closing will be, free and clear of all options, warrants, pledges, claims, liens
and encumbrances, and any restrictions or limitations prohibiting or restricting transfer to Buyer, except for restrictions on
transfer as contemplated by Section 4.3 above. The Shares constitute all of the issued and outstanding shares of capital stock
of Split-Off Subsidiary.

 

5.4WARN Act.
Split-Off Subsidiary does not have a sufficient number of employees to make it subject to the Worker Adjustment and Retraining
Notification Act.

 

5.5Representations
in Merger Agreement. Split-Off Subsidiary represents and warrants that all of the representations and warranties by Seller,
insofar as they relate to Split-Off Subsidiary, contained in the Merger Agreement are true and correct.

 

		VI.	OBLIGATIONS OF BUYER PENDING CLOSING. Buyer
covenants and agrees that between the date hereof and the Closing:

 

    	6

    	 

    

 

6.1Not Impair
Performance. Buyer shall not take any intentional action that would cause the conditions upon the obligations of the parties
hereto to effect the transactions contemplated hereby not to be fulfilled, including, without limitation, taking or causing to
be taken any action that would cause the representations and warranties made by any party herein not to be true, correct and accurate
as of the Closing, or in any way impairing the ability of Seller to satisfy its obligations as provided in Article VII.

 

6.2Assist
Performance. Buyer shall exercise its reasonable best efforts to cause to be fulfilled those conditions precedent to Seller’s
obligations to consummate the transactions contemplated hereby which are dependent upon actions of Buyer and to make and/or obtain
any necessary filings and consents in order to consummate the transactions contemplated by this Agreement.

 

VII.        OBLIGATIONS OF SELLER AND
SPLIT-OFF SUBSIDIARY PENDING CLOSING. Seller and Split-Off Subsidiary covenant and agree that between the date hereof and
the Closing:

 

7.1Business
as Usual. Split-Off Subsidiary shall operate and Seller shall cause Split-Off Subsidiary to operate in accordance with
past practices and shall use best efforts to preserve its goodwill and the goodwill of its employees, customers and others having
business dealings with Split-Off Subsidiary. Without limiting the generality of the foregoing, from the date of this Agreement
until the Closing Date, Split-Off Subsidiary shall (a) make all normal and customary repairs to its equipment, assets and facilities,
(b) keep in force all insurance, (c) preserve in full force and effect all material franchises, licenses, contracts and real property
interests and comply in all material respects with all laws and regulations, (d) collect all accounts receivable and pay all trade
creditors in the ordinary course of business at intervals historically experienced, and (e) preserve and maintain Split-Off Subsidiary’s
assets in their current operating condition and repair, ordinary wear and tear excepted. From the date of this Agreement until
the Closing Date, Split-Off Subsidiary shall not (i) amend, terminate or surrender any material franchise, license, contract or
real property interest, or (ii) sell or dispose of any of its assets except in the ordinary course of business. Neither Split-Off
Subsidiary nor Seller shall take or omit to take any action that results in Buyer incurring any liability or obligation prior to
or in connection with the Closing.

 

7.2Not Impair
Performance. Seller shall not take any intentional action that would cause the conditions upon the obligations of the parties
hereto to effect the transactions contemplated hereby not to be fulfilled, including, without limitation, taking or causing to
be taken any action which would cause the representations and warranties made by any party herein not to be materially true, correct
and accurate as of the Closing, or in any way impairing the ability of Buyer to satisfy his obligations as provided in Article
VI.

 

7.3Assist
Performance. Seller shall exercise its reasonable best efforts to cause to be fulfilled those conditions precedent to Buyer’s
obligations to consummate the transactions contemplated hereby which are dependent upon the actions of Seller and to work with
Buyer to make and/or obtain any necessary filings and consents. Seller shall cause Split-Off Subsidiary to comply with its obligations
under this Agreement.

 

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VIII.       SELLER’S AND SPLIT-OFF
SUBSIDIARY’S CONDITIONS PRECEDENT TO CLOSING. The obligations of Seller and Split-Off Subsidiary to close the transactions
contemplated by this Agreement are subject to the satisfaction at or prior to the Closing of each of the following conditions precedent
(any or all of which may be waived by Seller and PrivateCo in writing):

 

8.1Representations
and Warranties; Performance. All representations and warranties of Buyer contained in this Agreement shall have been true
and correct, in all material respects, when made and shall be true and correct, in all material respects, at and as of the Closing,
with the same effect as though such representations and warranties were made at and as of the Closing. Buyer shall have performed
and complied with all covenants and agreements and satisfied all conditions, in all material respects, required by this Agreement
to be performed or complied with or satisfied by Buyer at or prior to the Closing.

 

8.2Additional
Documents. Buyer shall deliver or cause to be delivered such additional documents as may be necessary in connection with
the consummation of the transactions contemplated by this Agreement and the performance of their obligations hereunder.

 

8.3Release
by Split-Off Subsidiary. At the Closing, Split-Off Subsidiary shall execute and deliver to Seller a general release which
in substance and effect releases Seller and PrivateCo from any and all liabilities and obligations that Seller and PrivateCo may
owe to Split-Off Subsidiary in any capacity, and from any and all claims that Split-Off Subsidiary may have against Seller, PrivateCo
or their respective managers, members, officers, directors, stockholders, employees and agents (other than those arising pursuant
to this Agreement or any document delivered in connection with this Agreement).

 

8.4Completion
of Merger. The closing of the Merger pursuant to the Merger Agreement, and all of the transactions contemplated thereby,
shall occur simultaneously.

 

IX.         BUYERS’ CONDITIONS PRECEDENT
TO CLOSING. The obligation of Buyer to close the transactions contemplated by this Agreement is subject to the satisfaction
at or prior to the Closing of each of the following conditions precedent (any and all of which may be waived by Buyer in writing):

 

9.1Representations
and Warranties; Performance. All representations and warranties of Seller and Split-Off Subsidiary contained in this Agreement
shall have been true and correct, in all material respects, when made and shall be true and correct, in all material respects,
at and as of the Closing with the same effect as though such representations and warranties were made at and as of the Closing.
Seller and Split-Off Subsidiary shall have performed and complied with all covenants and agreements and satisfied all conditions,
in all material respects, required by this Agreement to be performed or complied with or satisfied by them at or prior to the Closing.

 

		X.	OTHER AGREEMENTS.

 

10.1Expenses.
Each party hereto shall bear its expenses separately incurred in connection with this Agreement and with the performance of its
obligations hereunder.

 

    	8

    	 

    

 

10.2Confidentiality.
Buyer shall not make any public announcements concerning this transaction without the prior written agreement of PrivateCo, other
than as may be required by applicable law or judicial process. If for any reason the transactions contemplated hereby are not consummated,
then Buyer shall return any information received by Buyer from Seller or Split-Off Subsidiary, and Buyer shall cause all confidential
information obtained by Buyer concerning Split-Off Subsidiary and its business to be treated as such.

 

10.3Brokers’
Fees. In connection with the transaction specifically contemplated by this Agreement, no party to this Agreement has employed
the services of a broker and each agrees to indemnify the other against all claims of any third parties for fees and commissions
of any brokers claiming a fee or commission related to the transactions contemplated hereby.

 

10.4Access
to Information Post-Closing; Cooperation.

 

(a)Following the
Closing, Buyer and Split-Off Subsidiary shall afford to Seller and its authorized accountants, counsel and other designated representatives,
reasonable access (and including using reasonable efforts to give access to persons or firms possessing information) and duplicating
rights during normal business hours to allow records, books, contracts, instruments, computer data and other data and information
(collectively, “Information”) within the possession or control of Buyer or Split-Off Subsidiary insofar as such
access is reasonably required by Seller. Information may be requested under this Section 10.4(a) for, without limitation, audit,
accounting, claims, litigation and tax purposes, as well as for purposes of fulfilling disclosure and reporting obligations and
performing this Agreement and the transactions contemplated hereby. No files, books or records of Split-Off Subsidiary existing
at the Closing Date shall be destroyed by Buyer or Split-Off Subsidiary after Closing but prior to the expiration of any period
during which such files, books or records are required to be maintained and preserved by applicable law without giving Seller at
least 30 days’ prior written notice, during which time Seller shall have the right to examine and to remove any such files,
books and records prior to their destruction.

 

(b)Following the
Closing, Seller shall afford to Split-Off Subsidiary and its authorized accountants, counsel and other designated representatives
reasonable access (including using reasonable efforts to give access to persons or firms possessing information) and duplicating
rights during normal business hours to Information within Seller’s possession or control relating to the business of Split-Off
Subsidiary insofar as such access is reasonably required by Buyer. Information may be requested under this Section 10.4(b) for,
without limitation, audit, accounting, claims, litigation and tax purposes as well as for purposes of fulfilling disclosure and
reporting obligations and for performing this Agreement and the transactions contemplated hereby. No files, books or records of
Split-Off Subsidiary existing at the Closing Date shall be destroyed by Seller after Closing but prior to the expiration of any
period during which such files, books or records are required to be maintained and preserved by applicable law without giving Buyer
at least 30 days’ prior written notice, during which time Buyer shall have the right to examine and to remove any such files,
books and records prior to their destruction.

 

    	9

    	 

    

 

(c)At all times following
the Closing, Seller, Buyer and Split-Off Subsidiary shall use their reasonable efforts to make available to the other on written
request, the current and former officers, directors, employees and agents of Seller or Split-Off Subsidiary for any of the purposes
set forth in Section 10.4(a) or (b) above or as witnesses to the extent that such persons may reasonably be required in connection
with any legal, administrative or other proceedings in which Seller or Split-Off Subsidiary may from time to be involved.

 

(d)The party to whom
any Information or witnesses are provided under this Section 10.4 shall reimburse the provider thereof for all out-of-pocket expenses
actually and reasonably incurred in providing such Information or witnesses.

 

(e)Seller, Buyer,
Split-Off Subsidiary and their respective employees and agents shall each hold in strict confidence all Information concerning
the other party in their possession or furnished by the other or the other’s representative pursuant to this Agreement with
the same degree of care as such party utilizes as to such party’s own confidential information (except to the extent that
such Information is (i) in the public domain through no fault of such party or (ii) later lawfully acquired from any other source
by such party), and each party shall not release or disclose such Information to any other person, except such party’s auditors,
attorneys, financial advisors, bankers, other consultants and advisors or persons to whom such party has a valid obligation to
disclose such Information, unless compelled to disclose such Information by judicial or administrative process or, as advised by
its counsel, by other requirements of law.

 

(f)Seller, Buyer
and Split-Off Subsidiary shall each use their best efforts to forward promptly to the other party all notices, claims, correspondence
and other materials which are received and determined to pertain to the other party.

 

10.5Guarantees,
Surety Bonds and Letter of Credit Obligations. In the event that Seller is obligated for any debts, obligations or liabilities
of Split-Off Subsidiary by virtue of any outstanding guarantee, performance or surety bond or letter of credit provided or arranged
by Seller on or prior to the Closing Date, Buyer and Split-Off Subsidiary shall use their best efforts to cause to be issued replacements
of such bonds, letters of credit and guarantees and to obtain any amendments, novations, releases and approvals necessary to release
and discharge fully Seller from any liability thereunder following the Closing. Buyer and Split-Off Subsidiary, jointly and severally,
shall be responsible for, and shall indemnify, hold harmless and defend Seller from and against, any costs or losses incurred by
Seller arising from such bonds, letters of credit and guarantees and any liabilities arising therefrom and shall reimburse Seller
for any payments that Seller may be required to pay pursuant to enforcement of its obligations relating to such bonds, letters
of credit and guarantees.

 

10.6Filings
and Consents. Buyer, at its risk, shall determine what, if any, filings and consents must be made and/or obtained prior
to Closing to consummate the purchase and sale of the Shares. Buyer shall indemnify the Seller Indemnified Parties (as defined
in Section 12.1 below) against any Losses (as defined in Section 12.1 below) incurred by such Seller Indemnified Parties by virtue
of the failure to make and/or obtain any such filings or consents. Recognizing that the failure to make and/or obtain any filings
or consents may cause Seller to incur Losses or otherwise adversely affect Seller, Buyer and Split-Off Subsidiary confirm that
the provisions of this Section 10.6 will not limit Seller’s right to treat such failure as the failure of a condition precedent
to Seller’s obligation to close pursuant to Article VIII above.

 

10.7Insurance.
Buyer acknowledges that on the Closing Date, effective as of the Closing, any insurance coverage and bonds provided by Seller for
Buyer or for Split-Off Subsidiary, and all certificates of insurance evidencing that Buyers or Split-Off Subsidiary maintain any
required insurance by virtue of insurance provided by Seller, will terminate with respect to any insured damages resulting from
matters occurring subsequent to Closing.

 

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10.8Agreements
Regarding Taxes.

 

(a)Tax Sharing
Agreements. Any tax sharing agreement between Seller and Split-Off Subsidiary is terminated as of the Closing Date and will
have no further effect for any taxable year (whether the current year, a future year or a past year).

 

(b)Returns for
Periods Through the Closing Date. Seller will include the income and loss of Split-Off Subsidiary (including any deferred income
triggered into income by Reg. §1.1502-13 and any excess loss accounts taken into income under Reg. §1.1502-19) on Seller’s
consolidated federal income tax returns for all periods through the Closing Date and pay any federal income taxes attributable
to such income. Seller and Split-Off Subsidiary agree to allocate income, gain, loss, deductions and credits between the period
up to Closing (the “Pre-Closing Period”) and the period after Closing (the “Post-Closing Period”)
based on a closing of the books of Split-Off Subsidiary, and both Seller and Split-Off Subsidiary agree not to make an election
under Reg. §1.1502-76(b)(2)(ii) to ratably allocate the year’s items of income, gain, loss, deduction and credit. Seller,
Split-Off Subsidiary and Buyer agree to report all transactions not in the ordinary course of business occurring on the Closing
Date after Buyers’ purchase of the Shares on Split-Off Subsidiary’s tax returns to the extent permitted by Reg. §1.1502-76(b)(1)(ii)(B).
Buyer agrees to indemnify Seller for any additional tax owed by Seller (including tax owed by Seller due to this indemnification
payment) resulting from any transaction engaged in by Split-Off Subsidiary or Seller (not related to the Merger) during the Pre-Closing
Period or on the Closing Date before Buyer’s purchase of the Shares. Split-Off Subsidiary will furnish tax information to
Seller for inclusion in Seller’s consolidated federal income tax return for the period which includes the Closing Date in
accordance with Split-Off Subsidiary’s past custom and practice.

 

(c)Audits.
Seller will allow Split-Off Subsidiary and its counsel to participate at Split-Off Subsidiary’s expense in any audit of Seller’s
consolidated federal income tax returns to the extent that such audit raises issues that relate to and increase the tax liability
of Split-Off Subsidiary. Seller shall have the absolute right, in its sole discretion, to engage professionals and direct the representation
of Seller in connection with any such audit and the resolution thereof, without receiving the consent of Buyer or Split-Off Subsidiary
or any other party acting on behalf of Buyer or Split-Off Subsidiary, provided that Seller will not settle any such audit in a
manner which would materially adversely affect Split-Off Subsidiary after the Closing Date unless such settlement would be reasonable
in the case of a person that owned Split-Off Subsidiary both before and after the Closing Date. In the event that after Closing
any tax authority informs Buyer or Split-Off Subsidiary of any notice of proposed audit, claim, assessment or other dispute concerning
an amount of taxes which pertain to Seller, or to Split-Off Subsidiary during the period prior to Closing, Buyer or Split-Off Subsidiary
must promptly notify Seller of the same within 15 calendar days of the date of the notice from the tax authority. In the event
Buyers or Split-Off Subsidiary do not notify Seller within such 15 day period, Buyer and Split-Off Subsidiary, jointly and severally,
will indemnify Seller for any incremental interest, penalty or other assessments resulting from the delay in giving notice. To
the extent of any conflict or inconsistency, the provisions of this Section 10.8 shall control over the provisions of Section 12.2
below.

 

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(d)Cooperation
on Tax Matters. Buyer, Seller and Split-Off Subsidiary shall cooperate fully, as and to the extent reasonably requested by
any party, in connection with the filing of tax returns pursuant to this Section and any audit, litigation or other proceeding
with respect to taxes. Such cooperation shall include the retention and (upon the other party’s request) the provision of
records and information which are reasonably relevant to any such audit, litigation or other proceeding and making employees available
on a mutually convenient basis to provide additional information and explanation of any material provided hereunder. Split-Off
Subsidiary shall (i) retain all books and records with respect to tax matters pertinent to Split-Off Subsidiary and Seller relating
to any taxable period beginning before the Closing Date until the expiration of the statute of limitations (and, to the extent
notified by Seller, any extensions thereof) of the respective taxable periods, and abide by all record retention agreements entered
into with any taxing authority, and (ii) give Seller reasonable written notice prior to transferring, destroying or discarding
any such books and records and, if Seller so requests, Buyer agrees to cause Split-Off Subsidiary to allow Seller to take possession
of such books and records.

 

10.9ERISA.
Effective as of the Closing Date, Split-Off Subsidiary shall terminate its participation in, and withdraw from, any employee benefit
plans sponsored by Seller, and Seller and Buyer shall cooperate fully in such termination and withdrawal. Without limitation, Split-Off
Subsidiary shall be solely responsible for (i) all liabilities under those employee benefit plans notwithstanding any status as
an employee benefit plan sponsored by Seller, and (ii) all liabilities for the payment of vacation pay, severance benefits, and
similar obligations, including, without limitation, amounts which are accrued but unpaid as of the Closing Date with respect thereto.
Buyer and Split-Off Subsidiary acknowledge and agree that Split-Off Subsidiary is solely responsible for providing continuation
health coverage, as required under the Consolidated Omnibus Reconciliation Act of 1985, as amended (“COBRA”),
to each person, if any, participating in an employee benefit plan subject to COBRA with respect to such employee benefit plan as
of the Closing Date, including, without limitation, any person whose employment with Split-Off Subsidiary is terminated after the
Closing Date.

 

		XI.	TERMINATION. This Agreement may be terminated
at, or at any time prior to, the Closing by mutual written consent of Seller, Buyers and PrivateCo.

 

If this Agreement is
terminated as provided herein, it shall become wholly void and of no further force and effect and there shall be no further liability
or obligation on the part of any party except to pay such expenses as are required of such party.

 

		XII.	INDEMNIFICATION.

 

    	12

    	 

    

 

12.1Indemnification
by Buyer and Split-Off Subsidiary. Buyer and Split-Off Subsidiary, jointly and severally, covenant and agree to indemnify,
defend, protect and hold harmless Seller and PrivateCo, and their respective officers, directors, employees, stockholders, agents,
representatives and Affiliates (collectively, the “Seller Indemnified Parties”) at all times from and after
the date of this Agreement from and against all losses, liabilities, damages, claims, actions, suits, proceedings, demands, assessments,
adjustments, costs and expenses (including specifically, but without limitation, reasonable attorneys’ fees and expenses
of investigation), whether or not involving a third party claim and regardless of any negligence of any Seller Indemnified Party
(collectively, “Losses”), incurred by any Seller Indemnified Party as a result of or arising from (i) any breach
of the representations and warranties of such Buyer set forth herein or in certificates delivered in connection herewith, (ii)
any breach or nonfulfillment of any covenant or agreement (including any other agreement of Buyers to indemnify set forth in this
Agreement) on the part of Buyer under this Agreement, (iii) any Assigned Asset or Assigned Liability or any other debt, liability
or obligation of Split-Off Subsidiary, (iv) the conduct and operations, (A) prior to Closing, of the business of Seller unrelated
to the assets that are the subject of the Merger, (B) whether before or after Closing, of (X) the business of Seller pertaining
to the Assigned Assets and Assigned Liabilities or (Y) the business of Split-Off Subsidiary, (v) claims asserted (including claims
for payment of taxes), whether before or after Closing, (A) against Split-Off Subsidiary or (B) pertaining to the Assigned Assets
and Assigned Liabilities or to the business of Seller prior to the Closing, or (vi) any federal or state income tax payable by
Seller or PrivateCo and attributable to the transactions contemplated by this Agreement or to the business of Seller prior to the
Closing. For the purposes of this Agreement, an “Affiliate” is a person or entity that directly, or indirectly through
one or more intermediaries, controls or is controlled by, or is under common control with, another specified person or entity.

 

12.2Third
Party Claims.

 

(a)Defense.
If any claim or liability (a “Third-Party Claim”) should be asserted against any of the Seller Indemnified Parties
(the “Indemnitees”) by a third party after the Closing for which Buyer has an indemnification obligation under
the terms of Section 12.1, then the Indemnitee shall notify Buyer (collectively, the “Indemnitor”) within 20
days after the Third-Party Claim is asserted by a third party (said notification being referred to as a “Claim Notice”)
and give the Indemnitor a reasonable opportunity to take part in any examination of the books and records of the Indemnitee relating
to such Third-Party Claim and to assume the defense of such Third-Party Claim and, in connection therewith, to conduct any proceedings
or negotiations relating thereto and necessary or appropriate to defend the Indemnitee and/or settle the Third-Party Claim. The
expenses (including reasonable attorneys’ fees) of all negotiations, proceedings, contests, lawsuits or settlements with
respect to any Third-Party Claim shall be borne by the Indemnitor. If the Indemnitor agrees to assume the defense of any Third-Party
Claim in writing within 20 days after the Claim Notice of such Third-Party Claim has been delivered, through counsel reasonably
satisfactory to Indemnitee, then the Indemnitor shall be entitled to control the conduct of such defense, and any decision to settle
such Third-Party Claim, and shall be responsible for any expenses of the Indemnitee in connection with the defense of such Third-Party
Claim so long as the Indemnitor continues such defense until the final resolution of such Third-Party Claim. The Indemnitor shall
be responsible for paying all settlements made or judgments entered with respect to any Third-Party Claim the defense of which
has been assumed by the Indemnitor. Except as provided in subsection (b) below, both the Indemnitor and the Indemnitee must approve
any settlement of a Third-Party Claim. A failure by the Indemnitee to timely give the Claim Notice shall not excuse Indemnitor
from any indemnification liability except only to the extent that the Indemnitor is materially and adversely prejudiced by such
failure.

 

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(b)Failure to
Defend. If the Indemnitor shall not agree to assume the defense of any Third-Party Claim in writing within 20 days after the
Claim Notice of such Third-Party Claim has been delivered, or shall fail to continue such defense until the final resolution of
such Third-Party Claim, then the Indemnitee may defend against such Third-Party Claim in such manner as it may deem appropriate
and the Indemnitee may settle such Third-Party Claim, in its sole discretion, on such terms as it may deem appropriate; provided
however, that the Indemnitor shall (i) promptly reimburse the Indemnitee for the amount of all settlement payments and expenses,
legal and otherwise, incurred by the Indemnitee in connection with the defense or settlement of such Third-Party Claim, or (ii)
shall pay, in advance of any settlement or proceedings and in installments as reasonably agreed to by the parties, such sums and
expenses reasonably expected to be incurred in connection with the defense of the Third-Party Claim and any settlement thereof.
If no settlement of such Third-Party Claim is made, then the Indemnitor shall satisfy any judgment rendered with respect to such
Third-Party Claim before the Indemnitee is required to do so, and pay all expenses, legal or otherwise, incurred by the Indemnitee
in the defense against such Third-Party Claim.

 

12.3Non-Third-Party
Claims. Upon discovery of any claim for which Buyer has an indemnification obligation under the terms of Section 12.1 which
does not involve a claim by a third party against the Indemnitee, the Indemnitee shall give prompt notice to Buyer of such claim
and, in any case, shall give Buyer such notice within 30 days of such discovery. A failure by Indemnitee to timely give the foregoing
notice to Buyer shall not excuse Buyer from any indemnification liability except to the extent that Buyer is materially and adversely
prejudiced by such failure.

 

12.4Survival.
Except as otherwise provided in this Section 12.4, all representations and warranties made by Buyer, Split-Off Subsidiary and Seller
in connection with this Agreement shall survive the Closing. Anything in this Agreement to the contrary notwithstanding, the liability
of all Indemnitors under this Article XII shall terminate on the third (3rd) anniversary of the Closing Date, except with respect
to (a) liability for any item as to which, prior to the third (3rd) anniversary of the Closing Date, any Indemnitee shall have
asserted a Claim in writing, which Claim shall identify its basis with reasonable specificity, in which case the liability for
such Claim shall continue until it shall have been finally settled, decided or adjudicated, (b) liability of any party for Losses
for which such party has an indemnification obligation, incurred as a result of such party’s breach of any covenant or agreement
to be performed by such party after the Closing, (c) liability of Buyer for Losses incurred by a Seller Indemnified Party due to
breaches of its representations and warranties in Article IV of this Agreement, and (d) liability of Buyer for Losses arising out
of Third-Party Claims for which Buyer has an indemnification obligation, which liability shall survive until the statute of limitation
applicable to any third party’s right to assert a Third-Party Claim bars assertion of such claim.

 

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		XIII.	MISCELLANEOUS.

 

13.1Definitions.
Capitalized terms used herein without definition have the meanings ascribed to them in the Merger Agreement.

 

13.2Notices.
All notices and communications required or permitted hereunder shall be in writing and deemed given when received by means of the
United States mail, addressed to the party to be notified, postage prepaid and registered or certified with return receipt requested,
or personal delivery, or overnight courier, as follows:

 

(a)If to Seller,
addressed to:

 

Neurotrope, Inc.

Gottbetter & Partners, LLP

488 Madison Avenue, 12th Floor

New York, NY 10022

Attn: Ronald A. Warren

Telephone: (212) 400-6900

Facsimile:

 

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

 

Gottbetter & Partners, LLP

488 Madison Avenue, 12th Floor

New York, NY 10022

Attention: Adam S. Gottbetter,
Esq.

Telephone: 212-400-6900

Facsimile: 212-400-6901

 

(b)If to Buyer or
Split-Off Subsidiary, addressed to:

 

Marissa Watson

1801 26th Street

Sacramento, CA 95816

Telephone:

Facsimile:

 

or to such other address as any party hereto
shall specify pursuant to this Section 13.2 from time to time.

 

13.3Exercise
of Rights and Remedies. Except as otherwise provided herein, no delay of or omission in the exercise of any right, power
or remedy accruing to any party as a result of any breach or default by any other party under this Agreement shall impair any such
right, power or remedy, nor shall it be construed as a waiver of or acquiescence in any such breach or default, or of any similar
breach or default occurring later; nor shall any waiver of any single breach or default be deemed a waiver of any other breach
or default occurring before or after that waiver.

 

13.4Time.
Time is of the essence with respect to this Agreement.

 

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13.5Reformation
and Severability. In case any provision of this Agreement shall be invalid, illegal or unenforceable, it shall, to the
extent possible, be modified in such manner as to be valid, legal and enforceable but so as to most nearly retain the intent of
the parties, and if such modification is not possible, such provision shall be severed from this Agreement, and in either case
the validity, legality and enforceability of the remaining provisions of this Agreement shall not in any way be affected or impaired
thereby.

 

13.6Further
Acts and Assurances. From and after the Closing, Seller, Buyer and Split-Off Subsidiary agree that each will act in a manner
supporting compliance, including compliance by its Affiliates, with all of its obligations under this Agreement and, from time
to time, shall, at the request of another party hereto, and without further consideration, cause the execution and delivery of
such other instruments of conveyance, transfer, assignment or assumption and take such other action or execute such other documents
as such party may reasonably request in order more effectively to convey, transfer to and vest in Buyer, and to put Split-Off Subsidiary
in possession of, all Assigned Assets and Assigned Liabilities, and to convey, transfer to and vest in Seller and Buyer, and to
them in possession of, the Purchase Price Securities and the Shares (respectively), and, in the case of any contracts and rights
that cannot be effectively transferred without the consent or approval of another person that is unobtainable, to use its best
reasonable efforts to ensure that Split-Off Subsidiary receives the benefits thereof to the maximum extent permissible in accordance
with applicable law or other applicable restrictions, and shall perform such other acts which may be reasonably necessary to effectuate
the purposes of this Agreement.

 

13.7Entire
Agreement; Amendments. This Agreement contains the entire understanding of the parties relating to the subject matter contained
herein. This Agreement cannot be amended or changed except through a written instrument signed by all of the parties hereto and
by PrivateCo. No provisions of this Agreement or any rights hereunder may be waived by any party without the prior written consent
of PrivateCo.

 

13.8Assignment.
No party may assign his, her or its rights or obligations hereunder, in whole or in part, without the prior written consent of
the other parties.

 

13.9Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without giving
effect to principles of conflicts or choice of laws thereof.

 

13.10Counterparts.
This Agreement may be executed in one or more counterparts, with the same effect as if all parties had signed the same document.
Each such counterpart shall be an original, but all such counterparts taken together shall constitute a single agreement. In the
event that any signature is delivered by facsimile transmission, such signature shall create a valid and binding obligation of
the party executing (or on whose behalf such signature is executed) the same with the same force and effect as if such facsimile
signature page was an original thereof.

 

13.11Section
Headings and Gender. The section headings used herein are inserted for reference purposes only and shall not in any way
affect the meaning or interpretation of this Agreement. All personal pronouns used in this Agreement shall include the other genders,
whether used in the masculine, feminine or neuter and the singular shall include the plural, and vice versa, whenever and as often
as may be appropriate.

 

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13.12Third-Party
Beneficiary. Each of Seller, Buyer and Split-Off Subsidiary acknowledges and agrees that this Agreement is entered into
for the express benefit of PrivateCo, and that PrivateCo is relying hereon and on the consummation of the transactions contemplated
by this Agreement in entering into and performing its obligations under the Merger Agreement, and that PrivateCo shall be in all
respects entitled to the benefit hereof and to enforce this Agreement as a result of any breach hereof.

 

13.13Specific
Performance; Remedies. Each of the parties to this Agreement acknowledges and agrees that, if any provision of this Agreement
is not performed in accordance with its specific terms or is otherwise breached, irreparable damages would be incurred by the other
parties to this Agreement and by PrivateCo. Accordingly, the parties to this Agreement agree that any party or PrivateCo will be
entitled to seek an injunction or injunctions to prevent breaches of the provisions of this Agreement and to enforce specifically
this Agreement and its terms and provisions in any action instituted in any court of the United States or any state thereof having
jurisdiction over the parties and the matter, subject to Section 13.9, in addition to any other remedy to which they may be entitled,
at law or in equity. Except as expressly provided herein, the rights, obligations and remedies created by this Agreement are cumulative
and are in addition to any other rights, obligations or remedies otherwise available at law or in equity, and nothing herein will
be considered an election of remedies.

 

13.14Submission
to Jurisdiction; Process Agent; No Jury Trial.

 

(a)Each party to
the Agreement hereby submits to the jurisdiction of any state or federal court sitting in the Borough of Manhattan, City and State
of New York, in any action arising out of or relating to this Agreement, and agrees that all claims in respect of the action may
be heard and determined in any such court. Each party to the Agreement also agrees not to bring any action arising out of or relating
to this Agreement in any other court. Each party to the Agreement agrees that a final judgment in any action so brought will be
conclusive and may be enforced by action on the judgment or in any other manner provided at law or in equity. Each party to the
Agreement waives any defense of inconvenient forum to the maintenance of any action so brought and waives any bond, surety or other
security that might be required of any other party with respect thereto.

 

(b)EACH PARTY TO
THIS AGREEMENT HEREBY AGREES TO WAIVE ITS RIGHTS TO JURY TRIAL OF ANY DISPUTE BASED UPON OR ARISING OUT OF THIS AGREEMENT OR ANY
OTHER AGREEMENTS RELATING TO THE SUBJECT MATTER OF THIS AGREEMENT OR ANY DEALINGS AMONG THEM RELATING TO THE TRANSACTIONS CONTEMPLATED
HEREBY. The scope of this waiver is intended to be all encompassing of any and all actions that may be filed in any court and that
relate to the subject matter of the transactions, including contract claims, tort claims, breach of duty claims and all other common
law and statutory claims. Each party to the Agreement hereby acknowledges that this waiver is a material inducement to enter into
a business relationship and that they will continue to rely on the waiver in their related future dealings. Each party to the Agreement
further represents and warrants that it has reviewed this waiver with its legal counsel, and that each knowingly and voluntarily
waives its jury trial rights following consultation with legal counsel. NOTWITHSTANDING ANYTHING TO THE CONTRARY HEREIN, THIS WAIVER
IS IRREVOCABLE, MEANING THAT IT MAY NOT BE MODIFIED ORALLY OR IN WRITING, AND THE WAIVER WILL APPLY TO ANY AMENDMENTS, RENEWALS,
SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT OR TO ANY OTHER DOCUMENTS OR AGREEMENTS RELATING HERETO. In the event of commencement
of any action, this Agreement may be filed as a written consent to trial by a court.

 

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13.15Construction.
The parties hereto have participated jointly in the negotiation and drafting of this Agreement. If an ambiguity or question of
intent or interpretation arises, this Agreement will be construed as if drafted jointly by the parties hereto and no presumption
or burden of proof will arise favoring or disfavoring any party because of the authorship of any provision of this Agreement. Any
reference to any federal, state, local or foreign law will be deemed also to refer to law as amended and all rules and regulations
promulgated thereunder, unless the context requires otherwise. The words “include,” “includes,”
and “including” will be deemed to be followed by “without limitation.” The words “this
Agreement,” “herein,” “hereof,” “hereby,” “hereunder,”
and words of similar import refer to this Agreement as a whole and not to any particular subdivision unless expressly so limited.
The parties hereto intend that each representation, warranty and covenant contained herein will have independent significance.
If any party hereto has breached any representation, warranty or covenant contained herein in any respect, the fact that there
exists another representation, warranty or covenant relating to the same subject matter (regardless of the relative levels of specificity)
which that party has not breached will not detract from or mitigate the fact that such party is in breach of the first representation,
warranty or covenant.

 

[Signature page follows this page.]

 

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IN WITNESS WHEREOF,
the parties hereto have duly executed this Split-Off Agreement as of the day and year first above written.

 

NEUROTROPE, INC.

 

By: /s/ Ronald A. Warren

Name:  Ronald A. Warren

Title:    President

 

BLUEFLASH COMMUNICATIONS CORP.

 

By: /s/ Marissa Watson

Name:  Marissa Watson

Title:    President

 

 

/s/ Marissa Watson

Marissa Watson

  

    	19

    	 

    

 

EXHIBIT A

 

	Buyer	Purchase Price Security	Number*	Certificate No(s).
	Marissa Watson	Common Stock	
        9,000,000 shares

        11,178,000 shares
	
        1002

        1003

		*	Subject to adjustment for any stock splits or combinations effected after the date of this Agreement.

 

    	20

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