Document:

Stock Purchase Warrant

 Exhibit 10.9 
 THIS WARRANT AND THE SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) OR ANY STATE
SECURITIES LAWS AND MAY NOT BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES ACT AND UNDER APPLICABLE STATE SECURITIES LAWS OR THE COMPANY SHALL HAVE RECEIVED AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE
COMPANY THAT REGISTRATION OF SUCH SECURITIES UNDER THE SECURITIES ACT AND UNDER THE PROVISIONS OF APPLICABLE STATE SECURITIES LAWS IS NOT REQUIRED. 
 STOCK PURCHASE WARRANT 
  

			
	Date of Issuance: March 22, 2011	  	Certificate No. 117

 To
Purchase 3,000,000 Shares of 
 Common Stock of 

DAIS ANALYTIC CORPORATION 
 THIS CERTIFIES THAT, for value received, the receipt and sufficiency of which is hereby acknowledged: 
 Subject to the conditions set forth herein, Platinum Montaur Life Sciences LLC (“Holder”), or its permitted assigns, is entitled to subscribe for and purchase from Dais Analytic
Corporation, a New York corporation (the “Company”), at any time or from time to time after the date hereof (the “Issuance Date”) and continuing during the period of exercise set forth in paragraph 3 hereof, a
total of THREE MILLION (3,000,000) fully paid and non-assessable shares of the Company’s Common Stock, par value $0.01 per share (the “Common Stock”), at an exercise price of forty-five cents (US
$0.45) per share (the “Exercise Price”), subject to adjustment from time to time pursuant to the provisions of paragraph 5 hereof. The term “Warrant(s),” as used herein, shall mean this Warrant of even date
herewith, including all amendments to any such Warrants and all warrants issued in exchange, transfer or replacement therefor. The term “Warrant Shares,” as used herein, refers to the shares of Common Stock purchased or purchasable
upon the exercise of this Warrant. 
 This Warrant is subject to the following provisions, terms and conditions: 

1. Definitions. For the purpose of the Warrants, the following terms, whether or not capitalized or underlined in the text of this
Warrant, shall have the following meanings: 
 “Commission” shall mean the U.S. Securities and
Exchange Commission or any other governmental authority at the time administering the Securities Act. 

“Common Stock” shall mean the common stock, par value $0.01 per share, of the Company. 

  
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 “Company” shall have the meaning specified in the
introduction to this Warrant. 
 “Exercise Agreement” shall have the meaning specified in
paragraph 2 hereof. 
 “Exercise Price” shall have the meaning specified in the introduction to
this Warrant. 
 “Qualified Offering” has the meaning set forth in the Secured Convertible
Promissory Note, dated March 22, 2011, issued to the Holder. 
 “Securities Act” shall mean
the Securities Act of 1933, as amended, as any similar or successor federal statute, and the rules and regulations of the Commission thereunder, all as the same shall be in effect at the time. Reference to a particular section of the Securities Act
shall include a reference to the comparable section, if any, of any such similar or successor federal statute. 

“Warrant Shares” shall have the meaning specified in the introduction to this Warrant. 

“Warrant(s)” shall have the meaning specified in the introduction to this Warrant. 

2. Manner of Exercise; Issuance of Certificates; Payment for Shares; No Fractional Shares. 

(a) The rights represented by this Warrant may be exercised by the Holder hereof, in whole or in part, subject to the limitations on
exercise contained in paragraph 14 herein, by the surrender of this Warrant, together with a completed Exercise Agreement in the form attached hereto (“Exercise Agreement”), during normal business hours on any business day at the
principal office of the Company (or such other office or agency of the Company as it may designate by notice in writing to the Holder hereof at the address of such Holder appearing on the books of the Company) at any time during the period set forth
in paragraph 3 hereof and, upon payment to the Company by certified check or wire transfer in an amount equal to the product obtained by multiplying the Exercise Price by the number of Warrant Shares to be purchased in connection with such exercise.
The Company agrees that the shares so purchased shall be and are deemed to be issued to the Holder hereof as the record owner of such shares as of the close of business on the day upon which all of the foregoing requirements have been met.

 (b) Certificates for the Warrant Shares so purchased shall be delivered to the Holder hereof within a reasonable time after
the rights represented by this Warrant shall have been so exercised. The stock certificate or certificates so delivered shall be registered in the name of said Holder. If this Warrant shall have been exercised only in part, then, unless this Warrant
has expired, the Company shall, at its expense, at the time of delivery of said stock certificates(s), deliver to said Holder a new Warrant representing the right to purchase the remaining number of shares of Common Stock with respect to which this
Warrant shall not then have been exercised. 
 (c) This Warrant shall be exercisable only for a whole number of Warrant Shares.
No fractions of shares of Common Stock, or scrip for any such fractions of shares, shall be issued upon the exercise of this Warrant. 

  
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 3. Period of Exercise. This Warrant is exercisable, subject to the following
limitations, at any time or from time to time during the period beginning on the Issuance Date and ending five years thereafter (“Term”). 
 4. Shares to be Fully Paid; Reservations of Shares. The Company covenants and agrees that all Warrant Shares will be duly authorized and upon exercise of the rights represented by this Warrant and
payment of the Exercise Price in accordance with the terms and conditions hereof, will be validly issued, fully paid and nonassessable. The Company further covenants and agrees that during the period within which the rights represented by this
Warrant may be exercised, the Company will at all times have authorized, and reserved for the purpose of issue upon exercise of the subscription rights evidenced by this Warrant a sufficient number of shares of Common Stock to provide for the
exercise of the rights represented by this Warrant. 
 5. Stock Dividends, Splits, Reclassifications, etc. If prior to
the expiration date, the Company shall pay a stock dividend upon, or subdivide, split-up, reverse split, reclassify or combine its shares of Common Stock or if such stock shall be made exchangeable for other stock of the Company or if the Company
shall effect a capital reorganization or reclassification of the capital stock or consolidate or merge the Company with another entity or sell substantially all of its assets to another entity in such a way that the holders of the Common Stock shall
be entitled to receive stock, securities, or assets with respect to or in exchange for Common Stock then the Company shall appropriately adjust the number, class and/or exercise price of the Stock subject to the outstanding Warrant to reflect the
change in Common Stock. All affected terms and conditions of the Warrant shall also be appropriately adjusted. If, as a result of any adjustment under this section the Warrant Holder shall become entitled to a fractional share of Stock, the Holder
shall have the right to purchase only the adjusted full number of shares of Stock and no payment or other adjustment will be made in respect to the fractional shares of Stock so disregarded. The determination of the Company’s Board of Directors
regarding any adjustment will be final and conclusive. The Holder of the Warrant shall be given prompt notice of any adjustment of the number of shares issuable on exercise of the Warrant or any adjustment of the exercise price of the Warrant as
well as the taking of any of the foregoing corporate actions. 
 6. Representation of Holder. By acceptance of this
Warrant, the Holder hereby represents, warrants and covenant that any shares of stock purchased upon exercise of this Warrant shall be acquired for investment only and not with a view to, or for sale in connection with, any distribution thereof;
that the Holder has had such opportunity as such Holder has deemed adequate to obtain the merits and risks of its investment in the Company; that holder is an “accredited investor” as that term is defined in Regulation D under the United
States Securities Act of 1933; that Holder is able to bear the economic risk of holding such shares as may be required pursuant to the exercise of this Warrant for an indefinite period; the Holder understands that the shares of stock acquired
pursuant to the exercise of this Warrant will not be registered by the Company under the Securities Exchange Act and may be “restricted securities” within the meaning of Rule 144 under the Securities Act; and that all stock certificates
representing shares of stock issued to Holder upon exercise of this Warrant may have affixed thereto a legend substantially in the following form: 
 THIS WARRANT AND THE SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE HEREOF HAVE 

  
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NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) OR ANY STATE SECURITIES LAWS AND MAY NOT BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF
UNLESS REGISTERED UNDER THE SECURITIES ACT AND UNDER APPLICABLE STATE SECURITIES LAWS OR THE COMPANY SHALL HAVE RECEIVED AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY THAT REGISTRATION OF SUCH SECURITIES UNDER THE SECURITIES ACT AND
UNDER THE PROVISIONS OF APPLICABLE STATE SECURITIES LAWS IS NOT REQUIRED. 
 The Company agrees to reissue this Warrant or certificates
representing any of the Warrant Shares, without the legend set forth above if at such time, prior to making any transfer of any such securities, the Holder shall give written notice to the Company describing the manner and terms of such transfer.
Such proposed transfer will not be effected until: (a) either (i) the Company has received an opinion of counsel reasonably satisfactory to the Company, to the effect that the registration of such securities under the Securities Act is not
required in connection with such proposed transfer, (ii) a registration statement under the Securities Act covering such proposed disposition has been filed by the Company with the Securities and Exchange Commission and has become effective
under the Securities Act, (iii) the Company has received other evidence reasonably satisfactory to the Company that such registration and qualification under the Securities Act and state securities laws are not required, or (iv) the Holder
provides the Company with reasonable assurances that such security can be sold pursuant to Rule 144 under the Securities Act; and (b) either (i) the Company has received an opinion of counsel reasonably satisfactory to the Company, to the
effect that registration or qualification under the securities or “blue sky” laws of any state is not required in connection with such proposed disposition, or (ii) compliance with applicable state securities or “blue sky”
laws has been effected or a valid exemption exists with respect thereto. The Company will respond to any such notice from a holder within three (3) business days. In the case of any proposed transfer under this Section 6, the Company will
use reasonable efforts to comply with any such applicable state securities or “blue sky” laws, but shall in no event be required, (x) to qualify to do business in any state where it is not then qualified, (y) to take any action
that would subject it to tax or to the general service of process in any state where it is not then subject, or (z) to comply with state securities or “blue sky” laws of any state for which registration by coordination is unavailable
to the Company. The restrictions on transfer contained in this Section 6 shall be in addition to, and not by way of limitation of, any other restrictions on transfer contained in any other section of this Warrant. Whenever a certificate
representing the Warrant Shares is required to be issued to a the Holder without a legend, in lieu of delivering physical certificates representing the Warrant Shares, the Company shall cause its transfer agent to electronically transmit the Warrant
Shares to the Holder by crediting the account of the Holder’s Prime Broker with DTC through its DWAC system so long as the Company’s transfer agent is participating in the DWAC system. 

7. No Rights or Liabilities as a Shareholder. This Warrant shall not entitle the Holders hereof to any voting rights or any other
rights as a shareholder of the Company. No provision of this Warrant, in the absence of affirmative action by the 

  
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Holder hereof to purchase Warrant Shares, and no mere enumeration herein of the rights or privileges of the Holder hereof, shall give rise to any liability of such Holder for the Exercise Price
or as a shareholder of the Company, whether such liability is asserted by the Company or by creditors of the Company. 
 8.
Reserved.  
 9. Reserved. 
 10. Transfer and Exchange. 
 (a) Transfer of Warrant. Subject to
compliance with applicable federal and state securities laws and the terms and conditions of this Agreement, Holder shall have the right from time to time to transfer or sell all or a portion of this Warrant to one or more third parties (a
“Third Party Transferee”); provided, however, (i) no Third Party Transferee shall be a Competitor (as determined in the discretion of the Board of Directors of Company) of the Company and (ii) any Third Party
Transferee shall agree in writing to be bound as a holder to the terms and conditions of this Warrant. 
 (b) Replacement of
Warrant. Upon receipt of written notice from the holder hereof or other evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant and, in the case of any such loss, theft or destruction, upon
deliver of an indemnity agreement, or other indemnity reasonably satisfactory to the Company, or, in the case of any such mutilation, upon surrender and cancellation of such Warrant, the Company will execute and deliver, in lieu thereof, a new
Warrant of like tenor. 
 (c) Cancellation; Payment of Expenses. Upon the surrender of this Warrant in connection with
any transfer or replacement as provided in this paragraph 10, this Warrant shall be promptly canceled by the Company. 

11. Notices. All notices and other communications required or permitted hereunder shall be in writing, and shall be deemed to have
been delivered on the date delivered by hand, telegram, facsimile or by similar means, on the first (1st) day following the day when sent by recognized courier or overnight delivery service (fees prepaid), or on the fifth (5th) day
following the day when deposited in the mail, registered or certified (postage prepaid), addressed: (i) if to the Holder hereof or any other holder of any Warrants, at the registered address of the Holder hereof or such other holder as set
forth in the register kept by the Company at its principal office with respect to the Warrants, or to such other address as the Holder hereof or such other holder may have designated to the Company in writing, and (ii) if to the Company, at
11552 Prosperous Drive, Odessa, Florida 33556, Attention: Timothy Tangredi or addresses as the Company may designated in writing to the Holder hereof or any other holder of any of the Warrants at the time outstanding. 

12. Governing Law; Jurisdiction. This Warrant shall be construed and enforced in accordance with, and the rights of the parties
shall be governed by, the laws of the State of New York, without regard to principles of conflicts of laws. Any legal action or proceeding with respect to this Warrant shall be brought in the courts of the State of New York or of the United States
of America sitting in Manhattan, New York, and, by execution, delivery and acceptance of this Warrant, both the Company and Holder hereby accept for itself and in respect of its property, generally and

  
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unconditionally, the jurisdiction of the aforesaid courts. The Company and Holder hereby irrevocably waive, in connection with any such action or proceeding, any objection, including, without
limitation, any objection to the laying of venue or based on the grounds of forum non conveniens, which they may now or hereafter have to the bringing of any such action or proceeding in such respective jurisdictions. 

13. Miscellaneous. 
 (a) Amendments. This Warrant and any provision hereof may be changed, waived, discharged or terminated, but only by an instrument in writing signed by the party (or any predecessor in interest
thereof) against whom enforcement of the same is sought. 
 (b) Descriptive Headings. The descriptive headings of the
several paragraphs of this Warrant are inserted for purposes of reference only, and shall not affect the meaning or construction of any of the provisions hereof. 
 (c) Severability. It is expressly agreed that if any provision of this Warrant shall be determined by a court of competent jurisdiction to be void and of no effect, the provision of this Warrant
shall be deemed amended to modify or delete, as necessary, the offending provision, and this Warrant as so amended or modified shall not be rendered unenforceable or impaired but shall remain in force to the fullest extent possible in keeping with
the intentions of the parties. 
 (d) Waiver. The waiver of the Company of any provision of this Warrant shall not
operate as or be construed to be a subsequent waiver of the same provision or waiver of any other provision of this Warrant. 

(e) Interpretation. All decisions or interpretations of the Board of Directors of the Company with respect to any question arising
under this option shall be binding, conclusive and final. 
 14. Exercise Restrictions. Notwithstanding anything to the
contrary set forth in this Warrant, at no time may the Holder exercise this Warrant if the number of shares of Common Stock to be issued pursuant to such exercise would exceed, when aggregated with all other shares of Common Stock owned by such
holder at such time, the number of shares of Common Stock which would result in the Holder beneficially owning (as determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended, and the rules thereunder) in
excess of 9.9% of all of the Common Stock outstanding at such time; provided, however, that upon the Holder providing the Company with at least 61 days’ prior written notice that the Holder waives the limitations contained in this
Section 14 with regard to any or all shares of Common Stock issuable upon exercise of this warrant, this Section 14 shall be of no force or effect with regard to all or a portion of the shares of Common Stock referenced in such notice.

 15. Cashless Exercise. Notwithstanding any provisions herein to the contrary if (i) the Per Share Market Value
(as defined below) of one share of Common Stock is greater than the Exercise Price (at the date of calculation as set forth below) and (ii) a registration statement under the Securities Act providing for the resale of the Warrant Shares is not
then in effect, in lieu of exercising this Warrant by payment of cash, the Holder may exercise this Warrant by a cashless exercise and shall receive the number of shares of Common Stock equal to an amount (as determined below) by

  
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surrender of this Warrant at the principal office of the Company together with the properly endorsed Exercise Agreement in which event the Company shall issue to the Holder a number of shares of
Common Stock computed using the following formula: 

 

 

  

					
	Where	 	X =	 	the number of shares of Common Stock to be issued to the Holder.
		 	Y =	 	the number of shares of Common Stock purchasable upon exercise of all of the Warrant or, if only a portion of the Warrant is being exercised, the portion of the Warrant being
exercised.
		 	A =	 	the Exercise Price.
		 	B =	 	the Per Share Market Value of one share of Common Stock.

 For purposes hereof, “Per Share Market Value” means on any particular date (a) the last closing bid price per share of the Common Stock on such date on the OTC Bulletin Board or
another registered national stock exchange on which the Common Stock is then listed, or if there is no such price on such date, then the closing bid price on such exchange or quotation system on the date nearest preceding such date, or (b) if
the Common Stock is not listed then on the OTC Bulletin Board or any registered national stock exchange, the last closing bid price for a share of Common Stock in the over-the-counter market, as reported by the OTC Bulletin Board or in the National
Quotation Bureau Incorporated or similar organization or agency succeeding to its functions of reporting prices) at the close of business on such date, or (c) if the Common Stock is not then reported by the OTC Bulletin Board or the National
Quotation Bureau Incorporated (or similar organization or agency succeeding to its functions of reporting prices), then the “Pink Sheet” quotes for the applicable trading days preceding such date of determination, or (d) if the Common
Stock is not then publicly traded the fair market value of a share of Common Stock as determined by an independent appraiser selected in good faith by the Holder and reasonably acceptable to the Company. 

[Signature Page Follows] 

  
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 IN WITNESS WHEREOF, the Company has caused this Warrant to be signed by its duly authorized
officer as of the date fist written above. 
  

			
	DAIS ANALYTIC CORPORATION
		
	By:	 	 /s/ Timothy N. Tangredi

		
	Name:	 	 Timothy N. Tangredi

		
	Title:	 	 President & CEO

[March 2011 Bridge Loan Warrant to Platinum-Montaur Life Sciences, LLC] 

 FORM OF EXERCISE AGREEMENT 

[DATE] 
 To: Dais
Analytic Corporation 
 Attention: Timothy Tangredi 
 The undersigned, pursuant to the provisions set forth in the attached Warrant, hereby agrees to subscribe for and purchase             
shares of $.01 par value Common Stock covered by such Warrant. 
 The undersigned is an “accredited investor” and is
acquiring such shares for the purpose of investment and not with a view to or for sale in connection with any distribution thereof. 
  

			
	 Signature:
	 	  

			
		
	 Name:
	 	  

			
		
	 On behalf of:
	 	  

			
		
	 Its:
	 	  

			
		
	 Address:
	 	

 [March 2011 Bridge Loan Warrant to Platinum-Montaur Life Sciences, LLC]Patent Security Agreement

 Exhibit 10.10 
 PATENT SECURITY AGREEMENT 
 This PATENT SECURITY AGREEMENT (this
“Agreement”) is made on this 22nd day of
March, 2011 between Dais Analytic Corporation (“Debtor”), and Platinum-Montaur Life Sciences, LLC (“Secured Party”). 
 1. SECURITY INTEREST. Debtor hereby grants to Secured Party a security interest in (i) all rights, title, and interest in all patents, patent applications and like protections now owned or
hereafter acquired by Debtor and listed on Schedule I attached hereto (which Schedule may be updated by the Secured Party from time to time), including, without limitation, improvements, divisions, continuations, renewals, reissues,
extensions and continuations-in-part of the same and the proceeds therefrom and (ii) all rents, royalties, license fees and “accounts” (as defined in the Uniform Commercial Code of the State of New York) with respect to all of the
foregoing items in clause (i) (all of the foregoing, collectively, the “Collateral”). The security interest granted hereunder shall secure the payment and performance of Debtor’s obligations under the secured convertible
promissory note issued on or about the date hereof by the Debtor to the Secured Party in the principal amount of One Million Five Hundred Thousand Dollars ($1,500,000) (the “Note”) pursuant to that certain Note and Warrant Purchase
Agreement (the “Purchase Agreement”) dated on or about the date hereof (the “Convertible Note Issuance”), and the full, prompt and complete payment and performance when due (whether at stated maturity, by
acceleration or otherwise) of all other liabilities and obligations of Debtor to the Secured Party due or to become due or hereafter arising under this Agreement or in connection with the Note (the “Obligations”). 

2. COVENANTS. Debtor hereby warrants and covenants that during the course of this Agreement: (a) The Debtor’s place of business is 11552
Prosperous Drive, Odessa, Florida, 33556 and Debtor will immediately notify Secured Party in writing of any change in or discontinuance of Debtor’s place of business; (b) Debtor will not sell, dispose, or otherwise transfer all or any
portion of the Collateral or any interest therein other than license grants made by Debtor in the ordinary course of business, consistent with past practice and on an arm’s-length basis, in each case, without the prior written consent of
Secured Party; (c) Debtor shall file this Agreement with the U.S. Patent and Trademark Office no later than ten (10) days after completion of the Convertible Note Issuance; (d) Debtor shall, from time to time, execute and file such
other documents and instruments, and take such further actions as the Secured Party may reasonably request to perfect or continue the perfection of Secured Party’s interest in the Collateral, and Debtor authorizes Secured Party to file Uniform
Commercial Code financing statements with respect to the Collateral and the security interest granted herein; (e) to Debtor’s knowledge, this Agreement creates in favor of Secured Party a valid first priority security interest in the
Collateral in the United States securing the payment and performance of the obligations evidenced by the Note; and (f) the Debtor shall comply with the covenants set forth on Annex A hereto. 

  
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 3. DEFAULT. The following are each an event of default under this Agreement (each, an “Event
of Default”): (a) any material misrepresentation relating to this Agreement, the Purchase Agreement or the Note on the part of the Debtor, (b) any material noncompliance with or nonperformance of the Debtor’s obligations
under the Note, the Purchase Agreement or this Agreement, (c) if Debtor makes (i) an assignment for the benefit of creditors, or is subject to (ii) an attachment or receivership of assets that is not dissolved, or (iii) is
subject to the institution of Bankruptcy proceedings, whether voluntary or involuntary, and (d) any Event of Default as defined in the Note. Should an Event of Default occur, Secured Party shall provide Debtor with written notice detailing the
Event of Default. Debtor shall have fifteen (15) days from receipt of said notice to cure such default. Should Debtor fail to cure within the prescribed time period, Secured Party may at any time thereafter declare the Note in default and all
obligations secured hereby immediately due and payable and shall have the remedies of a secured party under the Uniform Commercial Code of New York State. Secured Party may require the Debtor to make the collateral provided hereunder available to
the Secured Party at a place which is mutually convenient. No waiver by Secured Party of any default shall operate as a waiver of any other default or of the same default on a future occasion. This Agreement shall inure to the benefit of and bind
the heirs, executors, administrators, successors, and assigns of the parties. This Agreement shall have the effect of an instrument under seal. 

3. TERM. This Agreement shall create a continuing security interest in the Collateral and shall remain in full force and effect until the
Obligations have been paid in full. Upon satisfaction of the Obligations, the Secured Party shall execute and deliver such releases or other evidences of satisfaction and release of this Agreement as may be reasonably requested by the Debtor.

 4. MISCELLANEOUS. Notwithstanding Section 3 above, this Agreement shall remain in full force and effect and continue to be
effective should any petition be filed by or against the Debtor for liquidation or reorganization, should the Debtor become insolvent or make an assignment for the benefit of any creditor or creditors or should a receiver or trustee be appointed for
all or any significant part of the Debtor’s assets, and shall continue to be effective or be reinstated, as the case may be, if at any time payment and performance of the Debtor’s obligations to the Secured Party under the Note, or any
part thereof, is, pursuant to applicable law, rescinded or reduced in amount, or must otherwise be restored or returned by any obligee of such obligations, whether as a “voidable preference,” “fraudulent conveyance,” or
otherwise, all as though such payment or performance had not been made. In the event that any payment, or any part thereof, is rescinded, reduced, restored or returned, the obligations of the Debtor to the Secured Party under the Note shall be
reinstated and deemed reduced only by such amount paid and not so rescinded, reduced, restored or returned. This Agreement shall be governed by the laws of New York State, without regard to its conflict of laws provisions. Any suit for the
enforcement of the obligations of Debtor to the Secured Party, arising out of or in any manner relating to this Agreement may be brought in the courts of the state of New York or any federal court sitting in the southern district of New York and the
parties hereto consents to the non-exclusive jurisdiction of such courts. The Debtor hereby waives any objection that it may now or hereafter have to the venue of any such suit or 

  
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any such court or that such suit was brought in an inconvenient court. The Debtor shall not be entitled in any such action or proceeding to assert any defense given or allowed under the laws of
any state other than the state of New York unless such defense is also given or allowed by the laws of the state of New York. 

[Signature Page Follows] 

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

					
	Debtor:	  	
		
	DAIS ANALYTIC CORPORATION	  	
			
	By:	  	 Timothy N. Tangredi
	  	
		  	Timothy N. Tangredi, President and Chief Executive Officer

  

					
	Secured Party:	  	
		
	PLATINUM-MONTAUR LIFE SCIENCES, LLC	  	
			
	By:	  	 /s/ Joseph Sanfilippo
	  	
	Name:	  	Joseph Sanfilippo	  	
	Title:	  	CFO	  	

  
 [Patent
Security Agreement By and Between 
 Dais Analytic Corporation and Platinum-Montaur Life Sciences, LLC] 

 ACKNOWLEDGEMENT OF DEBTOR 

 

	
	 STATE OF
Florida                )

	        )    ss.

	 COUNTY OF
Pasco                )  

 On this 22 day of March, 2011 before me personally appeared Timothy N. Tangredi, proved to me on the basis of satisfactory evidence to be the person who executed the foregoing instrument on
behalf of Dais Analytic Corporation, who being by me duly sworn did depose and say that he is an authorized officer of said corporation, that the said instrument was signed on behalf of said corporation as authorized by its Board of Directors and
that he acknowledged said instrument to be the free act and deed of said corporation. 
  

	
	 /s/ Pamela McMillan

	Notary Public

  
 [Patent
Security Agreement By and Between 
 Dais Analytic Corporation and Platinum-Montaur Life Sciences, LLC] 

 SCHEDULE I 

TO PATENT SECURITY AGREEMENT 

 

	1.	Patent No. 6,841,601– Cross-linked polymer electrolyte membranes for heat and moisture exchange devices. This patent was issued on January 11, 2005.

  

	2.	Patent No. 6,413,298 – Water and ion-conducting membranes and uses thereof. This patent was issued on July 2, 2002. 

 

	3.	Patent No. 6,383,391 – Water and ion-conducting membranes and uses thereof. This patent was issued on May 7, 2002. 

 

	4.	Patent No. 6,110,616 – Ion-conducting membrane for fuel cell. This patent was issued on August 29, 2000. 

 

	5.	Patent No. 5,679,482 – Fuel Cell incorporating novel ion-conducting membrane. This patent was issued on October 21, 1997. 

 

	6.	Patent No. 5,468,574 – Fuel Cell incorporating novel ion-conducting membrane. This patent was issued on October 21, 1995. 

 

	7.	Patent No. 7,179,860 – Cross-linked polymer electrolyte membranes for heat, ion and moisture exchange devices. This patent was issued on
February 20, 2007. 

  

	8.	*** Application ***– Nanoparticle Ultra Capacitor 

  

	9.	Patent Application *** – Enhanced HVAC System and Method 

  

	10.	Patent Application *** - Multiphase Selective Transport Through a Membrane 

 

	11.	Patent Application ***- Multiphase Selective Transport Through a Membrane 

  

	12.	Patent Application ***- Multiphase Selective Transport Through a Membrane 

  

	13.	Patent Application ***- Multiphase Selective Transport Through a Membrane 

  

	14.	Patent Application ***- Molecule Sulphonation Process* 

  

	15.	 Patent Application *** - Molecule Sulphonation Process* 

  

	16.	 Patent Application ***- Stable and Compatible Polymer Blends* 

 

	*	Patent applications jointly owned with Aegis Biosciences, LLC. 

  
 [Patent
Security Agreement By and Between 
 Dais Analytic Corporation and Platinum-Montaur Life Sciences, LLC] 

 SCHEDULE I 

TO PATENT SECURITY AGREEMENT, CONTINUED 

 
  

	17.	Patent Application ***- Stable and Compatible Polymer Blends* 

  

	18.	*** 

  

	19.	 Patent Application ***- Stable and Compatible Polymer Blends* 

  

	20.	*** 

  

	21.	*** 

  

	22.	*** 

  

	23.	*** 

  

	***	This material has been omitted pursuant to a request for confidential treatment and filed separately with the Securities and Exchange Commission.

  

	*	Patent applications jointly owned with Aegis Biosciences, LLC. 

  
 [Patent
Security Agreement By and Between 
 Dais Analytic Corporation and Platinum-Montaur Life Sciences, LLC] 

 Annex A – Additional Covenants 

 

	1.	The Debtor shall give the Secured Party prompt written notice of any non provisional published patent application filed with the United States Patent and Trademark
Office or any similar office or agency, and, upon the request of the Secured Party, the Debtor shall execute and deliver a supplement hereto (in form and substance satisfactory to the Secured Party) to evidence the Secured Party’s security
interest in and lien on such patent of the Debtor relating thereto or represented thereby. 

  

	2.	The Debtor shall take all actions reasonably necessary to prosecute to allowance applications for patents and maintain all patents (now or hereafter existing)

  

	3.	The Debtor shall take all steps reasonably necessary, in its good faith business judgment, to seek to recover any and all damages for infringement, misappropriation or
dilution of the Collateral, unless such infringement, misappropriation or dilution could not reasonably be expected to have a material adverse effect on the Debtor or its ability to satisfy the Obligations or unless the Debtor determines, in its
good faith business judgment, that seeking recovery for such infringement, misappropriation or dilution is uneconomical or otherwise not in the best interests of the Debtor. Upon the occurrence and during the continuance of any event of default
under the Note (an “Event of Default”), the Secured Party shall have the right to exercise all rights and remedies available at law or in equity. From and after the occurrence and during the continuance of an Event of Default, the
Secured Party shall have the right, but shall not be obligated, to bring suit or take any other action to enforce the Collateral and, if the Secured Party shall commence any such suit or take any such action, Debtor shall, at the request of the
Secured Party, do any and all reasonable lawful acts and execute any and all proper documents reasonably required by the Secured Party in aid of such enforcement. 

 

	4.	The Debtor shall not create, cause to be crated or permit to exist any lien, security interest or encumbrance on any portion of the Collateral in favor of any person or
entity other than the Secured Party. 

  
 [Patent
Security Agreement By and Between 
 Dais Analytic Corporation and Platinum-Montaur Life Sciences, LLC]

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