Document:

Exhibit
1.1

 

PLACEMENT
AGREEMENT

 

This
PLACEMENT AGREEMENT (the “Agreement”) dated as of December 31, 2014, by and between XRPRO
SCIENCES, INC., formerly known as Caldera Pharmaceuticals, Inc., a Delaware corporation
(the “Company”), and TAGLICH BROTHERS, INC. (“Placement
Agent”).

 

W
I T N E S S E T H:

 

WHEREAS,
in reliance upon the representations, warranties, terms and conditions hereinafter set forth, the Placement Agent will use its
best efforts to privately place (the “Proposed Offering”) a
minimum of 571,429 units (the “Minimum Amount”) and an aggregate of up to 1,265,000 units (the “Maximum
Amount”), each unit being offered at a price of $7.00 per unit and each unit consisting of four shares of the Company’s
common stock, par value $.001 per share (the “Common Stock”) and a five year warrant (the “Warrant”)
to purchase shares of the Company’s Common Stock at an exercise price of $1.75 per share (collectively, the “Units”)
in one or more closings (each a “Closing” and the first such Closing being herein referred to as the “Initial
Closing”);

 

WHEREAS,
the Units are being issued pursuant to the Company’s Confidential Private Placement Memorandum and exhibits and annexes
thereto (including the information incorporated by reference therein) dated December 4, 2014, and as the same may be amended and/or
supplemented from time to time (collectively, the “Memorandum”);

 

WHEREAS,
the Units are being issued to the buyers thereof (the “Investors”) pursuant to an exemption from the registration
requirements of the Securities Act of 1933, as amended (the “1933 Act”); and

 

NOW,
THEREFORE, in consideration of the premises and the respective promises hereinafter set forth, the Company and the Placement Agent
hereby agree as follows:

 

1.      Agreement
to Act as Placement Agent.

 

(a)    The
Placement Agent shall act on a best efforts basis and does not guarantee that it will be able to raise new capital in any prospective
offering. The Company acknowledges that any advice given by the Placement Agent to the Company is solely for the benefit and use
of the Board of Directors of the Company and may not be used, reproduced, disseminated, quoted or referred to without the Placement
Agent’s prior written consent.

 

(b)    The
term of the Placement Agent’s exclusive engagement will end on January 30, 2015 (the “Offering Period”),
which may be extended until February 28, 2015 by agreement of the parties in writing, or earlier terminated. The Placement Agent’s
engagement hereunder may be terminated by either the Company or the Placement Agent at any time, with or without cause, upon ten
(10) days prior written notice to the other party.

 

    	 

    	 

    

 

(c)    In
addition to the right of the Placement Agent to terminate this Agreement on ten (10) days written notice pursuant to (b), this
Agreement may be terminated by the Placement Agent by written notice to the Company at any time prior to the final Closing if,
in the Placement Agent’s sole judgment, (i) the Company shall have sustained a loss that is material to the Company, whether
or not insured, by reason of fire, earthquake, flood, accident or other calamity, or from any labor dispute or court or government
action, order or decree; (ii) material governmental restrictions have been imposed on trading in securities generally or specifically
with respect to the Common Stock (not in force and effect on the date of this Agreement); (iii) a banking moratorium shall have
been declared by Federal or New York or California State authorities; (iv) an outbreak of major international hostilities or other
national or international calamity shall have occurred; (v) the Congress of the United States or any state legislative body shall
have passed or taken any action or measure, or such bodies or any governmental body or any authoritative accounting institute,
or board, or any governmental executive shall have adopted any orders, rules or regulations, which the Placement Agent reasonably
believes is likely to have a Material Adverse Effect (as defined below); (vi) the Common Stock shall have been removed from the
trading system on which it currently listed, if any, or the Company shall have received notice from such trading system advising
the Company of its intention to have the Common Stock removed from such trading system; or (vi) there shall have been, in the
Placement Agent’s judgment, a material decline in the Dow Jones Industrial Index or the market price of the Common Stock
at any time subsequent to the date of this Agreement. “Material Adverse Effect” means a material adverse effect
on the assets, liabilities, results of operations, condition (financial or otherwise), or business of the Company or on the Proposed
Offering.

 

(d)    No termination of this Agreement will affect the Placement Agent’s right to expense reimbursement under Section 11(d), payment
of any accrued and unpaid fees pursuant to Section 11 or indemnification under Section 10.

 

(e)    This Agreement does not create, and will not be construed as creating, rights enforceable by any person or entity not a party
hereto, except those entitled thereto by virtue of the indemnification section herein. The Company acknowledges and agrees that
(a) the Placement Agent will act as an independent contractor and is being retained solely to assist the Company in its efforts
to effect the Proposed Offering and that, the Placement Agent is not being retained to advise the Company on, or to express any
opinion as to, the wisdom, desirability or prudence of consummating the Proposed Offering, (b) the Placement Agent is not and
will not be construed as a fiduciary of the Company or any affiliate thereof and will have no duties or liabilities to the equityholders
or creditors of the Company, any affiliate of the Company or any other person by virtue of this Agreement and the retention of
the Placement Agent hereunder, all of which duties and liabilities are hereby expressly waived and (c) nothing contained herein
shall be construed to obligate the Placement Agent to purchase, as principal, any of the securities offered by the Company in
the Proposed Offering. Neither equity holders nor creditors of the Company are intended beneficiaries hereunder. The Company confirms
that it will rely on its own counsel, accountants and other similar expert advisors for legal, accounting, tax and other similar
advice.

 

2.      Representations
and Warranties of the Company. The Company hereby represents and warrants to and covenants and agrees with the Placement Agent,
as of the date hereof and as of the date of each Closing, as follows:

 

(a)   
The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware and
is qualified and in good standing as a foreign corporation in each jurisdiction in which the nature of the business conducted
by the Company or the property owned or leased by the Company requires such qualification except for jurisdictions in which the
failure to so qualify would not have a material adverse effect on the operations of the Company. Except as described in the Memorandum,
the Company has no subsidiaries and does not own any equity interest and has not made any loans or advances to or guarantees of
indebtedness to any person, corporation, partnership or other entity. 

 

    	-2-

    	 

    

 

(b)   
The Company has the full right, power and authority to execute, deliver and perform under this Agreement. This Agreement has been
duly executed by the Company and this Agreement and the transactions contemplated by this Agreement, including
without limitation the execution and delivery by the Company of the Placement Agent Warrants (defined below) have
been or will be duly authorized by all necessary corporate action, and this Agreement constitutes, and, upon their execution and
delivery, the Placement Agent Warrants will, each constitute, the legal, valid and binding obligations of the Company, enforceable
in accordance with their respective terms.

 

(c)   
All of the issued and outstanding shares of the Company’s Common Stock (the “Common Stock”) have been
duly and validly authorized and issued, are fully paid and nonassessable (with no personal liability attaching to the holders
thereof or to the Company) and are free from preemptive rights or rights of first refusal held by any person. All of the issued
and outstanding shares of Common Stock have been issued pursuant to either a current effective registration statement under the
1933 Act or an exemption from the registration requirements thereof, and were issued in accordance with all applicable Federal
and state securities laws.

 

(d)   
The shares of Common Stock to be issued at each Closing and
the shares that are issuable upon the exercise of the Warrants and Placement Agent Warrants (the “Warrant Shares”),
have been duly and validly authorized for issuance and, when issued pursuant to the Securities Purchase Agreement (as defined
in the Memorandum) or exercise of the Warrants or Placement Agent Warrants, as applicable, will be duly and validly authorized
and issued, fully paid and nonassessable and free from preemptive rights or rights of first refusal held by any person.

 

(e)    Neither the execution nor delivery of this Agreement nor the performance by the Company of the transactions contemplated by
this Agreement: (i) requires the consent, waiver, approval, license or authorization of or filing with or notice to any person,
entity or public authority (except any filings required by Federal or state securities laws, which filings have been or will be
made by the Company on a timely basis); (ii) violates or constitutes a default under or breach of any law, rule or regulation
applicable to the Company; or (iii) conflicts with or results in a breach or termination of any provision of, or constitutes a
default under, or will result in the creation of any Lien upon any of the property or assets of the Company with or without the
giving of notice, the passage of time or both, pursuant to (A) the Company’s certificate of incorporation (as amended) or
by-laws, (B) any mortgage, deed of trust, indenture, note, loan agreement, security agreement, contract, lease, license, alliance
agreement, joint venture agreement, or other agreement or instrument, or (C) any order, judgment, decree, statute, regulation
or any other restriction of any kind or character to which the Company is a party or by which any of the assets of the Company
may be bound.

 

(f)     The Investors and the Placement Agent shall be entitled to rely on the Memorandum notwithstanding any investigation they or any
of them may have made. The Memorandum does not include any material nonpublic information regarding the Company or its business,
financial condition, affairs or prospects.

 

    	-3-

    	 

    

 

(g)    The Company agrees that any representations and warranties made by it to any purchaser of securities in the Proposed Offering,
including any representations and warranties contained in the Memorandum and purchase agreements to be executed by such purchaser
of securities in the Proposed Offering, shall be deemed also to be made to the Placement Agent for its benefit and such representations
and warranties are incorporated herein in their entirety for the benefit of the Placement Agent.

 

(h)    The
Company has filed all reports, schedules, forms, statements and other documents required to be filed by the Company under the
1933 Act and the Securities Exchange Act of 1934, as amended (the “1934 Act”), including pursuant to Section
13(a) or 15(d) thereof (the foregoing materials, including the exhibits thereto and documents incorporated by reference therein,
together with the Final Prospectus and the Registration Statement, being collectively referred to herein as the “SEC
Reports”). As of their respective dates, the SEC Reports complied in all material respects with the requirements of
the 1933 Act and the 1934 Act, as applicable, and none of the SEC Reports, when filed, contained any untrue statement of a material
fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein, in
the light of the circumstances under which they were made, not misleading. The financial statements of the Company included in
the SEC Reports comply in all material respects with applicable accounting requirements and the rules and regulations of the Securities
and Exchange Commission (the “Commission”) with respect thereto as in effect at the time of filing. Such financial
statements have been prepared in accordance with United States generally accepted accounting principles applied on a consistent
basis during the periods involved (“GAAP”), except as may be otherwise specified in such financial statements
or the notes thereto and except that unaudited financial statements may not contain all footnotes required by GAAP, and fairly
present in all material respects the financial position of the Company and its consolidated subsidiaries as of and for the dates
thereof and the results of operations and cash flows for the periods then ended, subject, in the case of unaudited statements,
to normal, immaterial, year-end audit adjustments.

 

(i)     Since
the date of the latest audited financial statements included within the SEC Reports, except as specifically disclosed in a subsequent
SEC Report filed prior to the date hereof, (i) there has been no event, occurrence or development that has had or that could reasonably
be expected to result in a Material Adverse Effect, (ii) the Company has not incurred any liabilities (contingent or otherwise)
other than (A) trade payables and accrued expenses incurred in the ordinary course of business consistent with past practice and
(B) liabilities not required to be reflected in the Company’s financial statements pursuant to GAAP or disclosed in filings
made with the Commission, (iii) the Company has not altered its method of accounting, (iv) the Company has not declared or made
any dividend or distribution of cash or other property to its stockholders or purchased, redeemed or made any agreements to purchase
or redeem any shares of its capital stock and (v) the Company has not issued any equity securities to any officer, director or
Affiliate, except pursuant to existing Company equity compensation plans. The Company does not have pending before the Commission
any request for confidential treatment of information. Except for the issuance of the Units and Placement Agent Warrants, no event,
liability, fact, circumstance, occurrence or development has occurred or exists or is reasonably expected to occur or exist with
respect to the Company or its subsidiaries or their respective business, prospects, properties, operations, assets or financial
condition that would be required to be disclosed by the Company under applicable securities laws at the time this representation
is made or deemed made that has not been publicly disclosed at least one (1) trading day prior to the date that this representation
is made.

 

    	-4-

    	 

    

 

(j)     Except
specifically disclosed in a subsequent SEC Report filed prior to the date hereof, there is no material action, suit, inquiry,
notice of violation, proceeding or investigation pending or, to the knowledge of the Company, threatened against or affecting
the Company, any subsidiary or any of their respective properties before or by any court, arbitrator, governmental or administrative
agency or regulatory authority (federal, state, county, local or foreign) (collectively, an “Action”) which
(i) adversely affects or challenges the legality, validity or enforceability of any of this Agreement and the transactions contemplated
pursuant to the Memorandum or the Common Stock, Warrants, Placement Agent Warrants or Warrant Shares or (ii) could, if there were
an unfavorable decision, have or reasonably be expected to result in a material adverse effect on the results of operations, assets,
business or condition (financial or otherwise) of the Company and its subsidiaries, taken as a whole, or (iii) a material adverse
effect on the Company’s ability to perform in any material respect on a timely basis its obligations under this Agreement
or the transactions contemplated under the Memorandum. Neither the Company nor any subsidiary, nor any director or officer thereof,
is or has been the subject of any Action involving a claim of violation of or liability under federal or state securities laws
or a claim of breach of fiduciary duty. There has not been, and to the knowledge of the Company, there is not pending or contemplated,
any investigation by the Commission involving the Company or any current or former director or officer of the Company. The Commission
has not issued any stop order or other order suspending the effectiveness of any registration statement filed by the Company or
any subsidiary under the 1934 Act or the 1933 Act.

 

3.      Representations,
Warranties and Covenants of Placement Agent.

 

(a)    Placement
Agent hereby represents and warrants that it is duly authorized to execute this Agreement and perform its duties hereunder, and
the execution and delivery by Placement Agent of this Agreement and the consummation of the transactions contemplated by this
Agreement have been authorized by all necessary corporate action and will not result in any violation of, or be in conflict with,
or constitute a default under, Placement Agent’s Certificate of Incorporation or By-Laws, any agreement or instrument to
which Placement Agent is a party or Placement Agent’s property is bound, or any judgment, decree, order or any statute,
rule or regulation applicable to Placement Agent.

 

(b)    In
offering the Units for sale on behalf of the Company, Placement Agent will not offer the Units for sale, or solicit any offers
to buy any Units, or otherwise negotiate with any person in respect of the Units, on the basis of any communications or documents
relating to the Units or any investment therein or to the Company or investment therein, other than the Memorandum and any other
document satisfactory in form and substance to the Company. Placement Agent will promptly deliver a copy of each amendment or
supplement to the Memorandum (i) to all offerees then being or thereafter solicited by Placement Agent, and (ii) to each person
who has subscribed for Units prior to the receipt by such person of such amendment or supplement.

 

(c)    In
offering the Units for sale on behalf of the Company, Placement Agent shall conduct such sales in the manner described in the
Memorandum and shall not make any general solicitations.

 

(d)    The
Placement Agent is a member in good standing of the Financial Industry Regulatory Authority, and is registered as a broker/dealer
under the 1934 Act.

 

    	-5-

    	 

    

 

4.      Pre
and Post-Closing Covenants of the Company.

 

(a)    In connection with the Proposed Offering, the Company will at all times comply with any requirements imposed upon it by (i) the
1933 Act, as now and hereafter amended, and by all applicable state securities laws and regulations, to permit the continuance
of offers and sales of the Shares and Warrant Shares in accordance with the provisions hereof and the Memorandum, (ii) the 1934
Act and (iii) Regulation FD. During such period, the Company will amend and supplement the Memorandum in order to make the Memorandum
comply with the requirements of the Act.

 

(b)    If at any time it is known or believed that any event occurred as a result of which the Memorandum or any representation or warranty
contained in this section includes an untrue statement of a material fact or, in view of the circumstances under which they were
made, omits to state any material fact necessary to make the statements therein not misleading, the Company will notify the Placement
Agent and will prepare an amended or supplemented Memorandum which will correct such statement or omission.

 

(c)    The Company will not make any offers or sales of any security under circumstances that would cause the Proposed Offering to fail
to qualify for an exemption from the registration requirements of applicable federal and state securities laws.

 

(d)    The Company agrees at all times as long as the Placement Agent Warrants may be exercised, to keep reserved from the authorized
and unissued Common Stock, such number of shares of Common Stock as may be, from time to time, issuable upon exercise of the Placement
Agent Warrants.

 

(e)    No later than 9:00 Am, New York City Time, on the first business day after the First Closing Date (as defined in the Memorandum),
the Company will file a Current Report on Form 8-K in which it shall disclose all material information disclosed to the Investors
during the course of the Proposed Offering which has not previously been disseminated publicly.

 

5.      Survival
of Representations and Warranties. The representations, warranties and covenants of the Company and Placement Agent set forth
in Sections 2, 3 and 4 of this Agreement shall survive the execution and delivery of the Shares,
Placement Agent Warrants and Warrant Shares.

 

6.      Use
of Proceeds. The net proceeds to the Company from the
sale of the Minimum Amount of Common Stock and the Maximum Amount of Common Stock are estimated to be approximately $3,645,003
and $8,111,600, respectively, after deducting the fees and expenses associated with the Proposed Offering. The
net proceeds from the sale of the Shares will be used by the Company
as disclosed in the Memorandum.

 

7.      Unregistered
Securities. None of the Shares, Placement Agent Warrants
or Warrant Shares have been registered under the 1933 Act, in reliance upon
the applicability of Section 4(a)(2), 4(6) and/or Rule 506 of Regulation D of the 1933 Act to the transactions contemplated hereby.
The certificates representing the Shares, Placement Agent Warrants
and the Warrant Shares will bear an investment legend stating that they are “restricted securities” (as defined
in Rule 144 under the 1933 Act) and may only be offered and sold pursuant to an effective registration statement filed with the
SEC or pursuant to an exemption from the registration requirements.

 

    	-6-

    	 

    

 

8.      Registration
Rights. The Placement Agent shall be entitled to the benefits of the Registration Rights set forth in Section 5 of the Securities
Purchase Agreement with respect to the Warrant Shares as if they were “Registrable Securities.” At the request of
the Placement Agent the Warrant Shares shall be included for registration in any registration statement in which Shares purchased
by any Investor are eligible for inclusion pursuant to Section 5 of the Securities Purchase Agreement.

 

9.      Conditions.
The following obligations of the Company shall be satisfied or fulfilled on or prior to the date of each Closing, unless otherwise
agreed to in writing by the Placement Agent:

 

(a)    The Company shall have delivered to the Placement Agent, at the Initial Closing (i) a currently-dated long-form good standing
certificate or telegram from the Secretary of State where the Company is incorporated; (ii) the certificate of incorporation (as
amended) of the Company, as currently in effect, certified by the Secretary of State of the state where the Company is incorporated;
(iii) by-laws of the Company certified by the secretary of the Company; and (iv) certified resolutions of the Board of Directors
of the Company approving the execution and delivery of this Agreement, the Securities Purchase Agreement and the Placement Agent
Warrants, the issuance and sale of the Shares and the issuance of the Warrant Shares upon exercise of the Placement Agent Warrants
and the registration of the Registrable Securities.

 

(b)    There shall have occurred no event which has a Material Adverse Effect (as defined in the Securities Purchase Agreement) on the
Company or any of its businesses, assets, prospects or the Company’s securities since the date of this Agreement.

 

(c)    No litigation or administrative proceeding shall have been threatened or commenced against the Company which (i) seeks to enjoin
or otherwise prohibit or restrict the consummation of the transactions contemplated by this Agreement or (ii) if adversely determined,
would have a Material Adverse Effect on the Company or the Company’s securities.

 

(d)    The Company shall have delivered to the Placement Agent a certificate of its principal executive and financial officers dated
as of the date of such Closing as to the matters set forth in paragraphs 9(a), (b) and (c) of this Agreement and to the further
effect that (i) the Company is not in default, in any respect, under any note, loan agreement, security agreement, mortgage, deed
of trust, indenture, contract, alliance agreement, lease, license, joint venture agreement, other agreement or other instrument
to which it is a party, except as disclosed in the Memorandum (including the exhibits thereto) and except where such default has
not had and could not reasonably be expected to have a Material Adverse Effect; (ii) the Company’s representations and warranties
contained in this Agreement and the Securities Purchase Agreement are true and correct in all respects on such date with the same
force and effect as if made on such date, (iii) there has been no amendment or changes to the Company’s certificate of incorporation
or by-laws or authorizing resolutions from those delivered pursuant to Paragraph 9(a) of this Agreement; and (iv) no event has
occurred which, with or without the lapse of time or giving of notice, or both, would constitute a breach of default thereof by
the Company, or would cause acceleration of any obligation of the Company, or could adversely affect the business, operations,
financial condition or prospects of the Company.

 

(e)    The Placement Agent shall have received the opinion of Gracin Marlow dated as of the date of such Closing in form and substance
reasonably satisfactory to the Placement Agent and its counsel.

 

    	-7-

    	 

    

 

(f)     The Company shall have prepared and filed with the SEC and any states in which such filing is required, a Form D relating to the
sale of the Common Stock and such other documents and certificates as are required, including documents required pursuant to state
securities laws.

 

(g)    Subscriptions for at least the Minimum Amount of Shares shall have been accepted by the Company.

 

10.    Indemnification.

 

(a)    Indemnification
by Company. The Company agrees to indemnify and hold harmless Placement Agent, its officers, directors and agents from and
against any and all losses, liabilities, claims, damages and expenses (each a “Claim” and, collectively, “Claims”)
whatsoever arising out of (1) a breach by the Company of any warranty set forth in Section 2, (2) failure by the Company
to comply with the provisions of Section 2, or (3) any untrue statement of a material fact contained in the Memorandum
or the omission therefrom of a material fact necessary in order to make the statements therein, in the light of the circumstances
under which they were made, not misleading; provided, however, that the Company will not be liable in any such case
to the extent that any such Claim arises out of or is based upon any such untrue statement or omission contained in the material
furnished to the Company by Placement Agent or on Placement Agent’s behalf, specifically for inclusion therein, which relates
to Placement Agent’s activities pursuant to this Agreement.

 

(b)    Indemnification
by Placement Agent. Placement Agent agrees to indemnify and hold harmless the Company (its officers, directors and agents)
and each person, if any, who controls any of the foregoing within the meaning of the 1933 Act to the same extent as the indemnity
from the Company described above against any and all Claims whatsoever (or actions in respect thereto) arising out of or based
upon (1) any misrepresentation or alleged misrepresentation, failure or alleged failure by Placement Agent to comply with the
covenants and agreements set forth in Section 3, (2) the gross negligence or willful misconduct of the Placement Agent
or any affiliate of the Placement Agent, or (3) any untrue statement of a material fact contained in the Memorandum, or an omission
to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, that
relates to the Placement Agent or any affiliate of the Placement Agent that was made solely in reliance upon and in conformity
with information furnished to the Company in writing by the Placement Agent expressly for use in the Memorandum.

 

    	-8-

    	 

    

 

(c)    Any
person entitled to indemnification under Section 10(a) or (b) of this Agreement (an “indemnified party”) shall
notify promptly the person obligated to provide such indemnification (the “indemnifying party”) in writing
of the commencement of any action or proceeding brought by a third person against the indemnified party with respect to a Claim
(a “Third Party Claim”) for which the indemnified party may be entitled to indemnification from the indemnifying
party under this Section 10, but the omission of such notice shall not relieve the indemnifying party from any liability which
it may have to any indemnified party under this Section, except to the extent that such failure shall materially adversely affect
any indemnifying party or its rights hereunder. The indemnifying party shall be entitled to participate in, and, to the extent
that it chooses, to assume the defense of any Third Party Claim with counsel reasonably satisfactory to the indemnified party;
and, after notice from the indemnifying party to the indemnified party that it so chooses, the indemnifying party shall not be
liable for any legal or other expenses or disbursements subsequently incurred by the indemnified party in connection with the
defense thereof other than reasonable costs of investigation; provided, however, that (i) if the indemnifying party fails to take
reasonable steps necessary to defend diligently the Third Party Claim within twenty (20) days after receiving notice from the
indemnified party of such Third Party Claim; (ii) if the indemnified party who is a defendant in such Third Party Claim which
is also brought against the indemnifying party reasonably shall have concluded that there are legal defenses available to the
indemnified party which are not available to the indemnifying party; or (iii) if representation of both parties by the same counsel
is otherwise inappropriate under applicable standards of professional conduct, the indemnified party shall have the right to assume
or continue its own defense as set forth above (but with no more than one firm of counsel for all indemnified parties in each
jurisdiction, except to the extent any indemnified party or parties reasonably shall have concluded that there are legal defenses
available to such party or parties which are not available to the other indemnified parties or to the extent representation of
all indemnified parties by the same counsel is otherwise inappropriate under applicable standards of professional conduct) and
the indemnifying party shall be liable for any reasonable expenses therefor; provided, that no indemnifying party shall be subject
to any liability for any settlement of a Third Party Claim made without its consent (which may not be unreasonably withheld, delayed
or conditioned). If the indemnifying party assumes the defense of any Third Party Claim hereunder, such indemnifying party shall
not enter into any settlement without the consent of the indemnified party if such settlement attributes liability to the indemnified
party.

 

11.   
Fees; Expenses and Rights of Placement Agent.

 

(a)    In
the event that the Proposed Offering is consummated, the Company will pay or cause to be paid to the Placement Agent a fee (the
“Success Fee”) equal to eight percent (8.0%) of the gross proceeds
received by the Company as a result of such consummation (the “Transaction Consideration”).

 

(b)    If the Proposed Offering is not consummated during the term for reasons other than termination of this Agreement by the Placement
Agent, it is acknowledged and agreed that a Success Fee shall also be payable to the Placement Agent during the twelve months
following termination of this Agreement, if the Company issues and sells any securities (other
than through an underwritten public offering), directly or indirectly, to any Taglich Investor.
For purposes of this agreement, a Taglich Investor shall mean an investor (i) introduced by the Placement Agent to the
Company, or (ii) whom the Placement Agent has had discussions with on the Company’s behalf, during the term of this Agreement,
in each case listed on Schedule “A” hereto, which Schedule “A” may be revised in writing from time to
time by the Placement Agent which revisions may consist of a confirmation of such change by the Placement Agent through electronic
mail.

 

(c)    In addition to the sums payable to the Placement Agent as provided elsewhere herein, the Placement Agent or its designees shall
be entitled to receive at the Closing, as additional compensation for its services, warrants to purchase Common Stock (the “Placement
Agent Warrants”) with a five (5) year term for the purchase of a number of shares of Common Stock equal to ten percent (10.0%)
of the number of Shares sold in the Proposed Offering, which such Placement Agent Warrants shall contain a cashless exercise provision,
anti-dilution provisions to reflect capital adjustments by the Company and be first exercisable on the date of issuance. The exercise
price of the Placement Agent Warrants will be $1.75 per share. The Placement Agent shall also be entitled to receive at Closing,
a five year advisory warrant exercisable for 200,000 shares of Common Stock of the Company, with the same terms as the Placement
Agent Warrants.

 

    	-9-

    	 

    

 

(d)    Upon closing, the Company will reimburse the Placement Agent
(i) for up to $35,000 of its actual and reasonable out-of-pocket expenses incurred in connection with the Proposed Offering, including
fees and expenses of its counsel, and (ii) all filing fees the Placement Agent is required to pay FINRA and reasonable fees and
expenses of legal counsel to Placement Agent in connection with such filings with FINRA.

 

(e)    The Company shall arrange for, and pay any fees required in connection with, the qualification of the sale of the Shares and Placement
Agent Warrants under the state securities or “blue sky” laws of any state which the Placement Agent reasonably deems
necessary.

 

(f)     All payments in connection with the sale of the Shares shall be made pursuant to the terms and conditions of the escrow agreement
among Placement Agent, the Company and Delaware Trust Company.

 

12.    Confidentiality.
The Placement Agent and the Company mutually agree that they will not disclose any confidential information received from
the other party to others, except with the written permission of the other party or as such disclosure may be required by law.

 

13.    Notices.
All notices provided for in this Agreement shall be in writing signed by the party giving such notice, and delivered personally
or sent by overnight courier or messenger against receipt thereof or sent by registered or certified mail, return receipt requested,
or by facsimile transmission, if confirmed by mail as provided in this Section 12. Notices shall be deemed to have been
received on the date of personal delivery or facsimile or, if sent by certified or registered mail, return receipt requested,
shall be deemed to be delivered on the third business day after the date of mailing. Notices shall be sent to the following addresses:

 

	To the Company:
	 
	One Kendall Square
	Boston, Massachusetts 02139
	Phone: (617) 631-8825
	Richard Cunningham
	President and Chief Executive Officer
	 
	With a copy to:
	 
	Gracin & Marlow, LLP
	The Chrysler Building
	405 Lexington Ave, 26th Floor
	New York, NY 10016
	Attention:  Leslie Marlow
	Facsimile:  (212) 208-4657

 

    	-10-

    	 

    

 

	To Placement Agent:
	 
	Taglich Brothers, Inc.
	275 Madison Avenue, Suite 1618
	New York, NY 10016
	Facsimile: (212) 661-6824
	Attention: Robert Schroeder
	 
	With a copy to:
	 
	Sills Cummis & Gross PC
	1 Riverfront Plaza
	Newark, NJ  07102
	Facsimile: (973) 643-6500
	Attention: Ira A. Rosenberg

 

or
to such other address as any party shall designate in the manner provided in this Section 12.

 

14.   
Miscellaneous.

 

(a)    This Agreement constitutes the entire agreement between the parties relating to the subject matter hereof and supersedes any
and all prior or contemporaneous oral and prior written agreements and understandings. This Agreement may not be modified or amended
nor may any right be waived except by a writing which expressly refers to this Agreement, states that it is a modification, amendment
or waiver and is signed by all parties with respect to a modification or amendment or the party granting the waiver with respect
to a waiver. No course of conduct or dealing and no trade custom or usage shall modify any provisions of this Agreement.

 

(b)    This Agreement shall be governed by and construed in accordance with the laws of the State of New York applicable to contracts
made and to be performed entirely within such state. Each party hereby consents to the exclusive jurisdiction of the Federal and
state courts situated in New York County, New York in connection with any action arising out of or based upon this Agreement and
the transactions contemplated by this Agreement. Each of
the Company (and, to the extent permitted by law, on behalf of the Company’s equity holders and creditors) and the Placement
Agent hereby knowingly, voluntarily and irrevocably waives any right it may have to a trial by jury in respect of any claim based
upon, arising out of or in connection with this Agreement and the transactions contemplated hereby (including, without limitation,
the Proposed Offering).

 

(c)    This Agreement shall be binding upon and inure to the benefit of the parties hereto, and their respective personal representatives,
successors and permitted assigns.

 

(d)    In the event that any provision of this Agreement becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable
or void, this Agreement shall continue in full force and effect without said provision.

 

    	-11-

    	 

    

 

(e)    It is understood and agreed that Placement Agent may, from
time to time, make a market in, have a long or short position, buy and sell or otherwise affect transactions for customer accounts
and for their own accounts in the securities of, or perform investment banking or other services for, the Company and other entities
which are or may be the subject of this Agreement. The Company confirms that possible investors identified or contacted by the
Placement Agent could include entities in respect of which the Placement Agent may have rendered or may in the future render services.

 

(f)    Each party shall, without payment of any additional consideration by any other party, at any time on or after the date of any
Closings take such further action and execute such other and further documents and instruments as the other party may request
in order to provide the other party with the benefits of this Agreement.

 

(g)    The captions and headings contained herein are solely for convenience and reference and do not constitute a part of this Agreement.

 

(h)    All references to any gender shall be deemed to include the masculine, feminine or neuter gender, the singular shall include the
plural and the plural shall include the singular.

 

(i)    This Agreement may be executed in any number of counterparts, each of which shall be deemed an original but all of which together
shall constitute one and the same document.

 

[Signature
page follows]

 

    	-12-

    	 

    

 

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

 

	XRPRO
    SCIENCES, INC.	 	TAGLICH
    BROTHERS, INC.
	 	 	 	 	 
	By:	 	 	By:	 
	Name:	 	Name:
	Title:	 	Title:

 

    	 

    	 

    

 

 

SCHEDULE
A

Taglich
InvestorsExhibit 4.1

 

NEITHER THIS WARRANT NOR THE SHARES OF COMMON
STOCK ISSUABLE ON EXERCISE OF THIS WARRANT HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OR ANY OTHER SECURITIES LAWS (THE “ACTS”).
NEITHER THIS WARRANT NOR THE SHARES OF COMMON STOCK PURCHASABLE HEREUNDER MAY BE SOLD, TRANSFERRED, PLEDGED OR HYPOTHECATED IN
THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THIS WARRANT OR COMMON STOCK PURCHASABLE HEREUNDER, AS APPLICABLE, UNDER
THE ACTS, OR (B) AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE CORPORATION THAT REGISTRATION IS NOT REQUIRED UNDER SUCH
ACTS.

 

XRPRO SCIENCES, INC.

WARRANT AGREEMENT

VOID AFTER 5:00 P.M. NEW YORK TIME, DECEMBER
, 2019

Date of Issuance:  December , 2014

 

1.             Basic
Terms. This Warrant Agreement (the “Warrant”) certifies that, for value received, the registered holder
specified below or its registered assigns (“Holder”) is entitled to purchase from XRpro Sciences, Inc., formerly
known as Caldera Pharmaceuticals, Inc., a Delaware corporation having its principal place of business at One Kendall Square, Cambridge,
Massachusetts 02139 (the “Corporation”), subject to adjustments as provided herein, [____________] ([________])
shares of the Common Stock, $.001 par value, of the Corporation (the “Common Stock”) at the price per share
shown below (the “Exercise Price”). 

Holder:

 

Exercise Price per share:          $1.75

 

Except as specifically
provided otherwise, all references in this Warrant to the Exercise Price and the number of shares of Common Stock purchasable hereunder
shall be to the Exercise Price and number of shares after any adjustments are made thereto pursuant to this Warrant.

 

2.             Corporation’s
Representations/Covenants. The Corporation represents and covenants that the shares of Common Stock issuable upon the exercise
of this Warrant shall at delivery be fully paid and non-assessable and free from taxes, liens, encumbrances and charges with respect
to their purchase. The Corporation shall take any necessary actions to assure that the par value per share of the Common Stock
is at all times equal to or less than the then current Exercise Price per share of Common Stock issuable pursuant to this Warrant.
The Corporation shall at all times reserve and hold available sufficient shares of Common Stock to satisfy all conversion and
purchase rights of outstanding convertible securities, options and warrants of the Corporation, including this Warrant. 

    	

    	 

    

3.             Method of
Exercise; Fractional Shares.

(a)               
This Warrant is exercisable at the option of the Holder at any time by surrendering this Warrant, on any business day during
the period (the “Exercise Period”) beginning the business day after the issue date of this Warrant specified
above and ending at 5:00 p.m. (New York time) five (5) years after the issue date. To exercise this Warrant, the Holder shall deliver
to the Corporation (whether via facsimile or otherwise) the executed exercise form (the “Exercise Notice”) (substantially
in the form of that attached hereto) and, unless this Warrant is being exercised on a cashless basis as set forth in Section 3(b)
below, together with payment for the Common Stock purchased under this Warrant. The Holder shall not be required to deliver the
original of this Warrant in order to effect an exercise hereunder. The principal office of the Corporation is located at the address
specified in Section 1 of this Warrant; provided, however, that the Corporation may change its principal office upon notice to
the Holder. Payment shall be made by check payable to the order of the Corporation or by wire transfer. This Warrant is not exercisable
with respect to a fraction of a share of Common Stock. In lieu of issuing a fraction of a share remaining after exercise of this
Warrant as to all full shares covered by this Warrant, the Corporation shall either at its option: (i) pay to the Holder an amount
in cash equal to the product of (x) such fraction, multiplied by (y) the Fair Market Value (as defined below) of one share of Common
Stock on the date of exercise; or (ii) issue scrip for the fraction in registered or bearer form which shall entitle the Holder
to receive a certificate for a full share of Common Stock on surrender of scrip aggregating a full share.

(b)              
In lieu of exercising this Warrant for cash pursuant to Section 3(a), the Holder may elect to exercise this Warrant on
a cashless basis by surrender of this Warrant at the principal office of the Corporation together with notice of such election,
in which event the Corporation shall issue to the Holder a number of shares of Common Stock computed using the following formula: 

	 	Y (A - B)	 
	X =  	A	 

Where:

 

X --    The number
of shares of Common Stock to be issued to the Holder under this Section 3(b).

Y --    The number
of shares of Common Stock for which under this Warrant is being exercised pursuant to this Section 3(b) (at the date of such calculation).

A --    The
Fair Market Value (as defined below) of a share of Common Stock on the immediately preceding Trading Day (as defined below).

    	2

    	 

    

B --     The Exercise
Price (as adjusted to the date of such calculations).

For purposes of this
Section 3(b), the “Fair Market Value” of a share of Common Stock shall mean (i) the volume weighted average
of the closing sales prices of the Common Stock for such day on all domestic securities exchanges on which the Common Stock may
at the time be listed; (ii) if there have been no sales of the Common Stock on any such exchange on any such day, the average of
the highest bid and lowest asked prices for the Common Stock on all such exchanges at the end of such day; (iii) if on any such
day the Common Stock is not listed on a domestic securities exchange, the closing sales price of the Common Stock as quoted on
the OTC Bulletin Board, OTCQX or OTCQB (or any successors to any of the foregoing) or similar quotation system or association for
such day; or (iv) if there have been no sales of the Common Stock on the OTC Bulletin Board, OTCQX or OTCQB (or any successors
to any of the foregoing) or similar quotation system or association on such day, the average of the highest bid and lowest asked
prices for the Common Stock quoted on the OTC Bulletin Board, OTCQX or OTCQB (or any successors to any of the foregoing) or similar
quotation system or association at the end of such day; in each case, averaged over ten (10) consecutive Trading Days ending on
the Trading Day immediately prior to the day as of which “Fair Market Value” is being determined. If at any time the
Common Stock is not listed on any domestic securities exchange or quoted on the OTC Bulletin Board, OTCQX or OTCQB (or any successors
to any of the foregoing) or similar quotation system or association, the “Fair Market Value” of the Common Stock shall
be the fair market value per share as determined in good faith by the Board of Directors of the Corporation. “Trading Day”
means a day on which the principal securities exchange or securities market on which the Common Stock is principally traded is
open for business.

(c)               
On or before the third (3rd) Trading Day (as defined below) following the later of (i) the date on which the Corporation
has received an Exercise Notice or (ii) the date on which the Corporation receives payment of the Exercise Price (which shall
not apply for cashless exercises), the Corporation shall transmit an acknowledgment of confirmation of receipt of such Exercise
Notice to the Holder and the Corporation’s transfer agent (the “Transfer Agent”). On or before the fifth
(5th) Trading Day following the later of (i) the date on which the Corporation has received such Exercise Notice or (ii) the date
on which the Corporation receives the Exercise Price (such later date, the “Delivery Date”), the Corporation
shall (x) provided that the Transfer Agent is participating in The Depository Trust Company (“DTC”) Fast Automated
Securities Transfer Program, upon the request of the Holder, credit such aggregate number of shares of Common Stock to which the
Holder is entitled pursuant to such exercise to the Holder’s or its designee’s balance account with DTC through its
Deposit/Withdrawal at Custodian system, or (y) if the Transfer Agent is not participating in the DTC Fast Automated Securities
Transfer Program, issue and deliver to the Holder or, at the Holder’s instruction pursuant to the Exercise Notice, the Holder’s
agent or designee, in each case, sent by reputable overnight courier to the address as specified in the applicable Exercise Notice,
a certificate, registered in the Corporation’s share register in the name of the Holder or its designee (as indicated in
the applicable Exercise Notice), for the number of shares of Common Stock to which the Holder is entitled pursuant to such exercise.
Upon the later of (i) the date on which the Corporation has received the Exercise Notice or (ii) the date on which the Corporation
receives the Exercise Price, the Holder shall be deemed for all corporate purposes to have become the holder of record of the
Warrant Shares with respect to which this Warrant has been exercised, irrespective of the date such shares of Common Stock are
credited to the Holder’s DTC account or the date of delivery of the certificates evidencing such shares of Common Stock
(as the case may be).

    	3

    	 

    

(d)              
If the Corporation fails to deliver to the Holder a certificate or certificates representing the shares of Common Stock
issuable upon exercise of this Warrant pursuant to an exercise by the close of business on the fifth (5th) Trading Day after the
date on which the Corporation has received an Exercise Notice or the date on which the Corporation receives payment of the Exercise
Price, and if after such fifth (5th) Trading Day the Holder is required by its broker to purchase (in an open market transaction
or otherwise) shares of Common Stock to deliver in satisfaction of a sale by the Holder of the shares of Common Stock issuable
upon exercise of this Warrant which the Holder anticipated receiving upon such exercise (a “Buy-In”), then the
Corporation shall (i) pay in cash to the Holder the amount 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 (A) the number
of shares of Common Stock issuable upon exercise of this Warrant that the Corporation was required to deliver to the Holder in
connection with the exercise at issue times (B) the price at which the sell order giving rise to such purchase obligation was executed,
and (ii) at the option of the Holder, either reinstate the portion of the Warrant and equivalent number of shares of Common Stock
issuable upon exercise of this Warrant for which such exercise was not honored or deliver to the Holder the number of shares of
Common Stock that would have been issued had the Corporation 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 issuable upon exercise of this Warrant with an aggregate sale price giving rise to
such purchase obligation of $10,000, under clause (i) of the immediately preceding sentence the Corporation shall be required to
pay the Holder $1,000. The Corporation’s obligations under this Section 3(d) will be subject to the Holder providing the
Corporation written notice indicating the amounts payable to the Holder in respect of the Buy-In, together with applicable confirmations
and other evidence reasonably requested by the Corporation. 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 Corporation’s failure to timely deliver certificates representing Common Stock upon
exercise of this Warrant as required pursuant to the terms hereof.

4.           
Protection Against Dilution. If the Corporation, with respect to the Common Stock, (a) pays a dividend or makes
a distribution on shares of common stock that is paid in shares of common stock or in securities convertible into or exchangeable
for Common Stock (in which latter event the number of shares of common stock initially issuable upon the conversion or exchange
of such securities shall be deemed to have been distributed), (b) subdivides outstanding shares of Common Stock into a greater
number of shares, (c) combines outstanding shares of Common Stock into a smaller number of shares, or (d) issues by reclassification
of Common Stock any shares of capital stock of the Corporation, the Exercise Price and number of shares purchasable under this
Warrant in effect immediately prior thereto shall be adjusted so that each Holder thereafter shall be entitled to receive the
number and kind of shares of Common Stock or other capital stock of the Corporation that it would have owned or been entitled
to receive in respect of this Warrant immediately after the happening of any of the events described above had this Warrant been
converted immediately prior to the happening of that event. An adjustment made in accordance with this section shall become effective
immediately after the record date, in the case of a dividend, and shall become effective immediately after the effective date,
in the case of a subdivision, combination, or reclassification. If, as a result of an adjustment made in accordance with this
Section 4, the Holder becomes entitled to receive shares of two or more classes of capital stock or shares of Common Stock and
other capital stock of the Corporation, the board of directors (whose determination shall be conclusive) shall determine the allocation
of the adjusted Exercise Price and number of shares purchasable under this Warrant between or among shares of such classes of
capital stock or shares of Common Stock and other capital stock. 

    	4

    	 

    

5.           
Adjustment for Reorganization, Consolidation, Merger. In the event of any (a) consolidation or merger to which the
Corporation is a party other than a consolidation or merger in which the Corporation is the continuing corporation, (b) the sale
or conveyance to another person or entity of the property of the Corporation as an entirety or substantially as an entirety, (c)
any statutory exchange of securities with another person or entity (including any exchange effected in connection with a merger
of a third corporation into the Corporation), (d) capital reorganization of the Corporation, (e) reclassification of the stock
of the Corporation, or (f) or other similar transaction (each such transaction referred to herein as “Reorganization”),
this Warrant shall remain outstanding and shall thereafter, in lieu of or in addition to (as the case may be) the number of shares
of Common Stock then purchasable under this Warrant, the Holder shall thereupon be entitled to receive and provision shall be made
therefor in any agreement relating to a Reorganization, the kind and number of securities or property (including cash) of the Corporation
or of the successor person or entity resulting from such Reorganization which the Holder would have owned or been entitled to receive
as a result of such Reorganization had this Warrant been exercised immediately prior to such Reorganization (and assuming the Holder
failed to make an election, if any was available, as to the kind or amount of securities, property or cash receivable by reason
of such Reorganization; provided that if the kind or amount of securities, property or cash receivable upon such Reorganization
is not the same for each share of common stock in respect of which such rights of election shall not have been exercised (“non
electing share”) then for the purpose of this section the kind and amount of securities, property or cash receivable upon
such Reorganization for each non electing share shall be deemed to be the kind and amount so receivable per share by a plurality
of the non electing shares). In any case, appropriate adjustment shall be made in the application of the provisions herein set
forth with respect to the rights and interests thereafter of the Holder, to the end that the provisions set forth herein shall
thereafter be applicable, as nearly as reasonably may be, in relation to any shares, other securities or property thereafter receivable
upon exercise of this Warrant (including, in the case of any consolidation, merger, sale or similar transaction in which the successor
or purchasing person or entity is not the Corporation, an immediate adjustment in the Exercise Price to the value per share for
the Common Stock reflected by the terms of such consolidation, merger, sale or similar transaction, and a corresponding immediate
adjustment to the number of shares of Common Stock acquirable upon exercise of this Warrant without regard to any limitations or
restrictions on exercise, if the value so reflected is less than the Exercise Price in effect immediately prior to such consolidation,
merger, sale or similar transaction). The provisions of this section similarly apply to successive Reorganizations.

6.           
Notice of Adjustment. On the happening of an event requiring an adjustment of the Exercise Price or the shares purchasable
under this Warrant, the Corporation shall, within fifteen (15) business days, give written notice to the Holder stating the adjusted
Exercise Price and the adjusted number and kind of securities or other property purchasable under this Warrant resulting from
the event and setting forth in reasonable detail the method of calculation and the facts upon which the calculation is based. 

    	5

    	 

    

7.           
Dissolution, Liquidation. In case of the voluntary or involuntary dissolution, liquidation or winding up of the Corporation
(other than in connection with reorganization, consolidation, merger, or other transaction covered by paragraph 5 above) is at
any time proposed; the Corporation shall give at least thirty days prior written notice to the Holder. Such notice shall contain:
(a) the date on which the transaction is to take place; (b) the record date (which shall be at least thirty (30) days after the
giving of the notice) as of which holders of Common Stock will be entitled to receive distributions as a result of the transaction;
(c) a brief description of the transaction, (d) a brief description of the distributions to be made to holders of Common Stock
as a result of the transaction; and (e) an estimate of the fair value of the distributions. On the date of the transaction, if
it actually occurs, this Warrant and all rights under this Warrant shall terminate.

8.           
Rights of Holder. The Corporation shall deliver to the Holder all notices and other information provided to its holders
of shares of Common Stock or other securities which may be issuable hereunder concurrently with the delivery of such information
to the holders. This Warrant does not entitle the Holder to any voting rights or, except for the foregoing notice provisions, any
other rights as a shareholder of the Corporation. No dividends are payable or will accrue on this Warrant or the shares of Common
Stock purchasable under this Warrant until, and except to the extent that, this Warrant is exercised. Upon the surrender of this
Warrant and payment of the Exercise Price as provided above, the person or entity entitled to receive the shares of Common Stock
issuable upon such exercise shall be treated for all purposes as the record holder of such shares as of the close of business on
the date of the surrender of this Warrant for exercise as provided above. Upon the exercise of this Warrant, the Holder shall have
all of the rights of a shareholder in the Corporation.

9.           
Registration Rights. The Holder shall have the registration rights and associated obligations set forth in Section
5 of that certain Securities Purchase Agreement, dated as of December ___, 2014, between the Corporation and the investors signatory
thereto, and will have such registration rights with respect to its Warrant Shares pari passu to the investors party thereto.

10.         
Exchange for Other Denominations. This Warrant is exchangeable, on its surrender by the Holder to the Corporation,
for a new Warrant of like tenor and date representing in the aggregate the right to purchase the balance of the number of shares
purchasable under this Warrant in denominations and subject to restrictions on transfer contained herein, in the names designated
by the Holder at the time of surrender.

11.         
Substitution. Upon receipt by the Corporation of evidence satisfactory (in the exercise of reasonable discretion)
to it of the ownership of and the loss, theft or destruction or mutilation of the Warrant, and (in the case or loss, theft or
destruction) of indemnity satisfactory (in the exercise of reasonable discretion) to it, and (in the case of mutilation) upon
the surrender and cancellation thereof, the Corporation will issue and deliver, in lieu thereof, a new Warrant of like tenor.

    	6

    	 

    

12.          
Restrictions on Transfer. Neither this Warrant nor the shares of Common Stock issuable on exercise of this Warrant
have been registered under the Securities Act or any other securities laws (the “Acts”). Neither this Warrant
nor the shares of Common Stock purchasable hereunder may be sold, transferred, pledged or hypothecated in the absence of (a) an
effective registration statement for this Warrant or Common Stock purchasable hereunder, as applicable, under the Acts, or (b)
an opinion of counsel reasonably satisfactory to the Corporation that registration is not required under such Acts. If the Holder
seeks an opinion as to transfer without registration from Holder’s counsel, the Corporation shall provide such factual information
to Holder’s counsel as Holder’s counsel reasonably requests for the purpose of rendering such opinion. Each certificate
evidencing shares of Common Stock purchased hereunder will bear a legend describing the restrictions on transfer contained in this
paragraph unless, in the opinion of counsel reasonably acceptable to the Corporation, the shares need no longer to be subject to
the transfer restrictions.

13.         
Transfer. Subject to the transfer conditions referred to in the legend endorsed hereon, this Warrant and all rights
hereunder are transferable, in whole or in part, only on the books of the Corporation by the Holder in person or by attorney, on
surrender of this Warrant, properly endorsed. Under no circumstances may this Warrant be assigned or transferred by the Corporation.

14.         
Recognition of Holder. Prior to due presentment for registration of transfer of this Warrant, the Corporation shall
treat the Holder as the person exclusively entitled to receive notices and otherwise to exercise rights under this Warrant. All
notices required or permitted to be given to the Holder shall be in writing and shall be given by first class mail, postage prepaid,
addressed to the Holder at the address of the Holder appearing in the records of the Corporation.

15.         
Payment of Taxes. The Corporation shall pay all taxes and other governmental charges, other than applicable income
taxes, that may be imposed with respect to the issuance of shares of Common Stock pursuant to the exercise of this Warrant.

16.         
Headings. The headings in this Warrant are for purposes of convenience in reference only, shall not be deemed to
constitute a part of this Warrant and shall not affect the meaning or construction of any of the provisions of this Warrant.

17.         
Miscellaneous. This Warrant may not be changed, waived, discharged or terminated except by an instrument in writing
signed by the Corporation and the Holder. This Warrant and the rights evidenced hereby shall be binding upon and shall inure to
the benefit of the parties hereto and the successors of the Corporation and the successors and permitted assigns of the Holder.
Such successors and/or assigns of the Holder shall be deemed to be a Holder for all purposes hereunder. This Warrant, together
with the Agreement, constitutes the sole and entire agreement of the parties to this Warrant with respect to the subject matter
contained herein, and supersedes all prior and contemporaneous understandings and agreements, both written and oral, with respect
to such subject matter. In the event of any inconsistency between the statements in the body of this Warrant and the Agreement,
the statements in the body of this Warrant shall control. If any term or provision of this Warrant is invalid, illegal or unenforceable
in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other term or provision of this Warrant
or invalidate or render unenforceable such term or provision in any other jurisdiction.

    	7

    	 

    

18.          
Governing Law. This Warrant shall be governed by and construed in accordance with the laws of the State of Delaware
without giving effect to its principles governing conflicts of law.

	 	XRPRO SCIENCES, INC.
	 	 	 
	 	By:	 
	 	Name:	 Richard Cunningham
	 	Title:	 President and Chief Executive Officer

    	8

    	 

    

 

XRPRO SCIENCES, INC.

Form of Transfer

(To be executed by the Holder to transfer
the Warrant)

For value received
the undersigned registered holder of the attached Warrant hereby sells, assigns, and transfers the Warrant to the Assignee(s) named
below:

	Names of
    Assignee	 	Address	 	Taxpayer ID No.	 	Number of Shares subject to transferred Warrant 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

 

The undersigned registered holder further irrevocably
appoints ___________________________________________________ attorney (with full power of substitution) to transfer this Warrant
as aforesaid on the books of the Corporation.

 

	Date:	______________________________	___________________________________
	 	 	Signature

 

    	9

    	 

    

 

XRPRO SCIENCES, INC.

Exercise Form

(To be executed by the Holder to purchase
Common Stock pursuant to the Warrant) 

The undersigned holder of the attached Warrant
hereby irrevocably elects to exercise purchase rights represented by such Warrant for, and to purchase, ___________ shares of Common
Stock of XRpro Sciences, Inc., a Delaware corporation.

 

________ The undersigned tenders cash payment
for those shares.

 

________ The
undersigned is exercising this Warrant as a cashless exercise pursuant to Section 3(b) of the Warrant.

 

The undersigned requests that (1) a certificate
for the shares be issued in the name of the undersigned and (2) if the number of shares with respect to which the undersigned holder
has exercised purchase rights is not all of the shares purchasable under this Warrant, that a new Warrant of like tenor for the
balance of the remaining shares purchasable under this Warrant be issued.

 

	Date:	______________________________	___________________________________
	 	 	Signature

 

 

10

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