Document:

Exhibit 10.4

LEASE AGREEMENT

 

THIS
LEASE, effective as of the 1st day of March 2014, by and between The Roskamp Institute Inc., or its successors or
assigns, a Florida nonprofit corporation (“Landlord”)
and Star Scientific, Inc. (“Tenant”).

 

WITNESSETH:

 

		1.	LEASE OF PREMISES.

 

Upon and subject to the terms and conditions
provided herein, Landlord leases to Tenant and Tenant leases from Landlord, certain space in the office building described below.

 

		2.	DEFINITIONS.

 

2.1           “Building”
means the office building located at 2040 Whitfield Avenue, Sarasota, Florida 34243 and legally described as set forth on Exhibit
“A” attached hereto.

 

2.2.          “Premises”
means that portion of the Building. The Premises are depicted and highlighted on the floor plan attached as Exhibit “B”.

 

2.3.          “Common Areas” means that
portion of the building. The common areas are depicted on the floor plan attached as Exhibit “C”.

 

2.4.          “Base Rental” means the sum of $2,000.00
per month, plus applicable sales tax thereon. The Base Rental due for the first month shall be deposited with Landlord by Tenant
at the time of execution hereof.

 

2.5.          “Additional
Rent” INTENTIONALLY DELETED

 

2.6           “Building
Operating Costs” INTENTIONALLY DELETED

 

2.7.          “Commencement
Date” means the date specified in Section 3.1 hereof.

 

2.8.          “Lease
Term” This is a 24 month lease. Tenant may elect to continue the lessee for three additional 12 month periods by providing
written notice to Landlord within sixty (60) days of the end of the initial Lease Term or any extended lease period of its intent
to continue the lease for an additional 12 month period. In that event, the lease will be extended for an additional 12 month period
and, subject to Tenant’s election, may be extended for a total of three additional 12 month periods. After the first 24 months
or at the end of any extended lease period, if an election is not made to extend the Lease as noted above, this lease shall revert
to a month-to-month lease that may be terminated by either party with a 30 day written notice. This lease shall remain in full
force and effect until terminated by either party.

 

2.9.          “Security
Deposit” means the sum of Two Thousand Dollars ($2,000.00).

 

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2.10.       “Common
Areas” means those areas devoted to corridors, foyers, restrooms, mechanical rooms, janitorial closets, electrical and telephone
closets, vending areas, lobby and other facilities provided for the common use or benefit of Tenant generally and/or the public.

 

2.11.       “Service
Areas” means those areas within the outside walls used for mechanical rooms, flues, vents, stacks, pipe shafts and vertical
ducts (but shall not include any such areas for the exclusive use of the tenant).

 

2.12.       “Net
Rentable Areas” of the Premises shall mean the gross area within the inside surface of the outer glass of the exterior walls,
to the mid-point of any walls separating portions of the Premises from those of adjacent areas and to the midpoint walls separating
the Premises from Common Areas and service Areas, subject to the following:

 

Net Rentable Area shall not include
any Service Areas.

 

Net Rentable Area shall include
Tenant’s pro rata part of the Common Areas within the Building, based upon the ratio of the Net Rentable Area within the
Premises to the total Net Rentable Area within the Building, both determined without regard to the Common Areas.

 

2.13.       “Exterior
Common Areas” means the portion of the property which are not located within the Building and which are provided and maintained
for the common use and benefit of Landlord and Tenants of the Building generally and the employees, invitees and licensees of Landlord
and such Tenants; including, without limitation, all parking areas, enclosed or otherwise, and all streets, sidewalks and landscaped
areas.

 

2.14.       “Building
Standard” means the quality, amount, level of performance, or standards, as the case may be, as established by the original
Building construction.

 

2.15.       “Building
Grades” means the type, brand and/or quality of materials Landlord designates from time to time to be the minimum quality
to be used in the Building or the exclusive type, grade or quality of material to be used in the Building.

 

2.16.       “Property”
means the Building and the real property beneath and surrounding the Building, owned, leased or otherwise controlled by Landlord,
as such property is increased or decreased from time to time by Landlord in its sole discretion, including all improvements now
or hereafter located on such real property.

 

		3.	TERM AND POSSESSION.

 

3.1.       Term. The term of this
Lease shall be the period of time specified in Section 2.8 of the Definitions and shall commence upon execution of this
Lease (“Commencement Date”). As used in this Lease, “Term” shall include the original Term and any extension
thereof affected in accordance with an extension option, if any, expressly set forth herein.

 

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3.2.          Tenant’s
Acceptance of the Premises. Tenant agrees to accept possession of the Premises with all facilities in operating order, subject
to “punch list” repairs to be completed by Landlord at Landlord’s expense.

 

3.3.          Surrender
of the Premises. Upon the expiration or earlier termination of this Lease or upon the exercise by Landlord of its right to
re-enter the Premises without terminating this Lease, Tenant shall immediately surrender the Premises to Landlord, together with
all alterations, improvements and other property as provided herein, in a clean condition and otherwise in good order, condition
and repair except for ordinary wear and tear, fire and casualty. Upon such expiration or termination, Tenant shall have the right
to remove its trade fixtures and equipment as and to the extent permitted under Section 9.4. Tenant shall, at its expense,
promptly repair any damage caused by any such removal and shall restore the Premises to the condition existing immediately prior
to the removal of the items removed in accordance with the provisions set forth above in this Section 3.3.

 

3.4           Right
to Extend. INTENTIONALLY DELETED.

 

3.5           Holding
Over. No holding over by Tenant after expiration or earlier termination of the Term shall operate to extend the Lease. If Tenant
remains in possession without Landlord’s written consent after expiration or other termination of this Lease, or if Tenant
continues to occupy the Premises after termination of Tenant’s right to possession pursuant to the terms of this Lease, Tenant
shall be deemed a tenant at will, and shall throughout the entire holdover period pay rent equal to one and one quarter (1-1/4)
the Base Rental and Additional Rent which would have been applicable had the terms of this Lease continued through the period of
such holding over by Tenant. Tenant shall indemnify Landlord against all claims, damages, costs and expenses (including, but not
limited to, reasonable attorneys’ fees) in connection with such holding over, including, without limitation, all claims by
any other person or entity to which Landlord may have leased all or any part of the Premises effective upon or after expiration
or termination of the Term. Acceptance of such rent by Landlord shall in no event constitute a waiver of Tenant’s default
or an authorization of Tenant’s holding over nor prevent Landlord from exercising any of its other rights and remedies.

 

		4.	BASE RENTAL.

 

4.1.          Tenant
shall pay to Landlord during the Lease Term without any setoff or deduction whatsoever, except as provided herein, the Base Rental
and all such other money as shall become due hereunder as Additional Rental, all of which are sometimes herein collectively called
“Rent”.

 

4.2.          INTENTIONALLY
DELETED

 

4.3.          Tenant
shall pay such Rent and any adjustments thereto to Landlord at Landlord’s address provided herein (or such other address
as may be designated by Landlord in writing from time to time).

 

4.4.          If
the term of this Lease commences on a day other than the first day of a month, or terminates on a day other than the last day of
a month, then the installments of Rent and any adjustments thereto for such month or months shall be prorated, based on the number
of days in such month.

 

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4.5.          Payments
of rent or other amounts to be paid by Tenant hereunder received more than ten business (10) days after said payments are due will
be assessed a $100.00 late fee charge, to cover Landlord’s increased processing and administrative costs associated with
such late payment. Acceptance by Landlord of a payment in an amount less than that which is currently due shall in no way affect
Landlord’s rights under this Lease and shall in no way be deemed an accord and satisfaction. This provision does not prevent
Landlord from declaring the non-payment of rent or any other amounts to be paid by Tenant hereunder when due an event of default.

 

4.6.          INTENTIONALLY
DELETED

 

4.7.          Tenant
shall pay all sales taxes levied or assessed against all rent payments due under this Lease simultaneously with each rent payment
required.

 

4.8           INTENTIONALLY
DELETED

  

		5.	BUILDING OPERATING EXPENSES.

 

INTENTIONALLY DELETED

 

		6.	SECURITY DEPOSIT.

 

6.1.          An
amount equal to two thousand Dollars ($2000.00).

 

		7.	OCCUPANCY AND USE.

 

7.1.         
Occupancy. Tenant shall use and occupy the Premises for the following purposes and shall not use the Premises for any other
purpose except with the prior written consent of Landlord: General Office Use.

 

7.2.
         Use of Premises. In connection with the use of the
Premises, Tenant agrees to do the following:

 

(a)          Tenant
shall use and maintain the Premises and conduct its business thereon in a safe, careful and lawful manner and in compliance with
all laws, codes, ordinances, rules, regulations and orders (collectively “Laws”) of any governmental authority or agency,
including without limitation those governing zoning, health, safety (including fire safety), and occupational hazards, pollution
and environmental control, and handicapped accessibility, all requirements of Landlord’s insurance carrier made known to
tenant, and all reasonable directions of Landlord consistently applied to all other tenants in the Building and which do not reduce
Tenant’s rights hereunder.

 

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(b)          Tenant
shall not use the Premises for any unlawful purpose or act, commit or permit any waste or damage to the Premises, or do or permit
anything to be done in or about the Premises which will in any way obstruct or interfere with the rights of other tenants or occupants
of the Building or injure or annoy them. Landlord shall not be responsible to Tenant for the nonperformance by any other tenant
or occupant of the Building of any of the Rules and Regulations but shall use reasonable efforts to cause other tenants to comply
therewith.

 

(c)          Tenant
shall not use the Premises, or allow the Premises to be used, for any purpose or in any manner which would, in Landlord’s
reasonable judgment, invalidate any policy of insurance now or hereafter carried on the Building or increase the rate of premiums
payable on any such insurance policy without agreement with the landlord. Should Tenant fail to comply with this covenant, Landlord
may require that Tenant stop engaging in such activity and in any event reimburse Landlord as Additional Rent for any increase
in premiums charged during the Term on the insurance carried by Landlord that is attributable to Tenant’s use of the Premises.

 

(d)          Tenant
shall not overload the floors of the Premises beyond their designated weight-bearing capacity. Landlord reserves the right to direct
the positioning of all heavy equipment, furniture and fixtures which Tenant desires to place in the Premises so as to distribute
properly [the weight thereof, and require the removal of any equipment or furniture which exceeds the weight limit specified herein.]
[No specification]

 

7.3.          Landlord’s
Rights Regarding Use. In addition to the rights specified elsewhere in this Lease, Landlord shall have the following rights
regarding the use of the Premises and the Common Areas by Tenant, its employees, agents, customers and invitees, each of which
may be without notice or liability to Tenant:

 

(a)          Landlord
may install such signs, advertisement or notices or tenant identification information as it shall deem necessary and proper and
which were requested by Tenant.

 

(b)          Landlord
may grant to any person the exclusive right to conduct any business or render any service in the Building, provided that such exclusive
right shall not operate to limit Tenant from using the Premises for the use permitted herein.

 

(c)          Landlord
may control the Common Areas in such manner as it deems necessary or proper, including by way of illustration and not limitation,
excluding or expelling any peddler, solicitor or loud or unruly person from the Building; and closing or limiting access to the
Building or any part thereof, including entrances, corridors, and doors, during times of emergency, repairs, alterations or after
regular business hours, provided that Tenant will be permitted reasonable access to the premises after regular business hours and,
to the extent possible, during times of any emergency, repair or alterations.

 

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7.4.           Access
to and Inspection of the Premises. Landlord, its employees and agents and any mortgagee of the Building shall have the right
to enter any part of the Premises at reasonable times and with 24-hour advance notice to the Tenant’s employees at the Premises,
emergencies excepted, for the purposes of examining or inspecting the Premises to prospective purchasers, mortgagees or tenants
and making such repairs, alterations or improvements to the Premises or the Building as Landlord may deem reasonably necessary
or desirable. If representatives of Tenant shall not be present to open and permit such entry into the Premises at any time when
such entry is necessary or permitted hereunder, Landlord and its employees and agents may enter the Premises by means of a master
or pass key or otherwise and secure the Premises upon leaving. Landlord shall incur no liability to Tenant for such entry, nor
shall such entry constitute an eviction of Tenant or a termination of this Lease or entitle Tenant to any abatement of rent therefor.
Landlord shall provide Tenant with prompt notice of any entry into Tenant’s space without its notice.

 

7.5.           Hazardous
Waste Provisions. Tenant and Landlord shall not in any manner use, maintain or allow the use or maintenance of the Premises
or Building in violation of any laws, including but not limited to those governing hazardous, toxic or infectious waste, materials
and substances. The Tenant shall not use or allow the use of the Premises or any part thereof to treat, store, dispose of, transfer,
release, convey or recover hazardous, toxic or infectious waste, materials or substances nor shall the Tenant otherwise, in any
manner, possess or allow the possession of any hazardous, toxic or infectious waste, materials or substances on or about the Premises
or Building. Hazardous, toxic or infectious waste, materials or substances shall mean any solid, liquid or gaseous waste or emission
or any combination thereof which because of its quantity, concentration or physical, chemical, or infectious characteristics may
(i) cause or significantly contribute to an increase in mortality or in serious or incapacitating, irreversible illness, or (ii)
pose the risk of a substantial present or potential hazard to human health, to the environment or otherwise to animal or plant
life when used, treated, stored, transported, disposed of or otherwise managed or handled. Tenant and Landlord shall indemnify
and hold harmless the other for any and all claims, loss, liability, costs, expenses or damage, including attorneys’ fees,
incurred by either in connection with any breach by either Tenant or Landlord of its obligations under this Section. The provisions
of this Section shall survive the termination of this Lease.

 

		8.	UTILITIES AND OTHER BUILDING SERVICES.

 

8.1.           Services
to be Provided. Provided Tenant is not in default and subject to interruptions beyond Landlord’s reasonable control,
Landlord shall provide to Tenant the following utilities and other Building services to the extent reasonably necessary for Tenant’s
comfortable use and occupancy of the Premises for general office use as may be required by law or directed by governmental authority:

 

(a)          Heating,
ventilation and air-conditioning to the Premises.

 

(b)          Electrical
current to the Premises. Tenant’s use of electrical current shall at no time exceed the capacity of the feeders to the Building
or the risers or wiring installation serving the Premises. .

 

(c)          Electrical
current in Common Areas.

 

(d)          Water
in the Common Areas for lavatory and drinking purposes.

 

(e)          Washing
of windows at intervals reasonably established by Landlord but not less than once annually.

 

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(f)          Replacement
of all lamps, bulbs, starters and ballasts in Building standard lighting as required from time to time as a result of normal usage.
Costs are to be commercially reasonable.

 

(g)          Cleaning
and maintenance of the Common Areas, including the removal of rubbish and the furnishing of paper towels, toilet tissue and soap.

 

(h)          Intentionally
Deleted

 

(i)          Except
as otherwise expressly provided herein, Landlord shall not be required to make any repairs to the Premises.

 

8.2.         Additional
Services. If Tenant reasonably requests any other utilities or Building services in addition to those identified above or
any of the above utilities or Building services in frequency, scope, quality or quantity greater than those which Landlord reasonably
determines are normally required by other tenants in the Building for general office use, then Landlord shall use reasonable efforts
to attempt to furnish Tenant with such additional utilities or Building services. In the event Landlord is able to and does furnish
such additional utilities or Building services, the costs thereof shall be borne by Tenant who shall reimburse Landlord monthly
for such costs as Additional Rent at the same time payments of Monthly Rent are due.

 

8.3.         Interruption
of Services. Tenant understands, acknowledges and agrees that any one or more of the utilities or other Building services
identified in Section 8.1 may be interrupted by
reason of accident, emergency or other causes beyond Landlord’s reasonable control, or may be discontinued or diminished
temporarily by Landlord or other persons until certain repairs, alterations or improvements can be made; that Landlord does not
represent or warranty the uninterrupted availability of such utilities or Building services and the failure, interruption or termination
of the defined services in whole or in part shall not render Landlord liable in any respect, nor shall it be construed as an eviction
(constructive or otherwise) of Tenant; provided, however, Tenant’s rent shall abate from the date of interruption if such
interruption continues for two (2) business days or more, and Tenant shall have the right to terminate the Lease if such interruption
continues for more than thirty (30) consecutive days.

 

8.4.       Should
any of the equipment or machinery used in the provision of the Building services, for any cause, cease to function properly, Tenant
shall have no claim for offset or abatement of rent or damages on account of an interruption in service occasioned thereby or
resulting therefrom, unless such interruption shall make working conditions in the Premises impracticable, at Tenant’s discretion,
for more than two (2) business days.

 

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		9.	REPAIRS, MAINTENANCE, ALTERATIONS, IMPROVEMENTS AND FIXTURES.

 

9.1.
         Repair and Maintenance of Building. Subject to
Section 9.2 and except for any repairs made necessary
by the negligence, misuse or default of Tenant, its employees, agents, customers or invitees, Landlord shall make all necessary
repairs to the exterior walls, exterior doors, windows, corridors and other Common Areas of the Building, and Landlord shall keep
the Building in a safe, clean and neat condition and use reasonable efforts to keep all equipment used in common with other tenants,
such as plumbing, heating, air-conditioning and similar equipment, in good condition and repair. Except as provided in Section
8 and Section 11 hereof, there shall be no abatement
of rent and no liability of Landlord by reason of any injury to or interference with Tenant’s business arising from the making
of any repairs, alterations or improvements in or to any portion of the Building or the Premises or in or to any fixtures, appurtenances
and equipment therein or thereon

 

9.2           Care
of the Premises by Tenant. Tenant shall not commit or allow any waste to be committed on any portion of the Premises, and at
the termination of this Lease, Tenant shall deliver the Premises to Landlord in as good condition as at the date of the commencement
of the term of this Lease, ordinary wear and use expected.

 

9.3           Repairs
and Alterations by Tenant.

 

(a)          Notwithstanding
anything contained herein to the contrary, Landlord shall maintain the mechanical systems, including HVAC in good order and repair.

 

(b)          Tenant
shall keep the Premises including the leasehold improvements and Tenant’s property, neat, clean and in good order and condition.

 

(c)          Tenant
shall, at Tenants own cost and expense, repair any damage done to the Building, or any part thereof, including replacement of damaged
portions or items, caused by Tenant or Tenant’s agent, employees, invitees, or visitors, and Tenant covenants and agrees
to make all such repairs promptly and as may be required to restore the Building to as good a condition an it was in prior to such
damage.

 

(d)          All
such work or repairs by Tenant shall be effected in compliance with all applicable laws; provided, however, if Tenant fails to
make such repairs or replacement promptly, Landlord may, after written notice to tenant, at its
option, make repairs or replacements, and Tenant shall pay the cost thereof to the Landlord within ten (10) days of Landlord’s
demand therefore, as additional rent.

 

(e)          Tenant
agrees with Landlord not to make or allow to be made any alterations to the Premises, install any vending machines on the Premises,
except for Tenant’s own use, or place signs on the Premises which are visible from outside the Premises, without first obtaining
the prior written consent of Landlord in each such instance, which consent may not be unreasonably withheld.

 

(f)          Tenant
shall be entitled to alter the Premises with landlords written approval of design to allow for separate ingress and egress to and
from the Premises apart from that provided through the common area of the property.

 

(g)          Any
and all alterations to the Premises shall become the property of Landlord upon termination of this Lease (except for movable equipment
or furniture owned by Tenant). Landlord may, if requested upon their initial installation, require Tenant to remove any and all
fixtures, equipment and other improvements installed on the Premises as Landlord may require and if Tenant fails to remove such
improvements, Landlord may remove such improvements at Tenant’s cost, and Tenant shall pay Landlord on demand the cost of
restoring the Premises to its condition prior to such alternations.

 

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9.4.
         Trade Fixtures. All of Tenant’s trade fixtures
and equipment installed in the Premises may be removed by Tenant upon expiration or earlier termination of this Lease, provided
that (i) Tenant at its expense shall repair any damage to the Premises and the Building caused by such removal and (ii) Tenant
is not then in default under this Lease. After expiration or earlier termination of the Term, Landlord shall have the right to
remove and store Tenant’s trade fixtures and equipment and to have any damage from such removal repaired, all at Tenant’s
expense.

 

9.5.
         Mechanic's Lien. Tenant shall not permit or cause
the filing of any mechanic's lien against the Premises or any part of the Building or Land. In the event any mechanic's lien is
filed against the Premises or any part of the Building or Land for work claimed to have been done for or materials claimed to have
been furnished to Tenant, Tenant shall cause such mechanic's lien to be discharged of record within twenty (20) days after filing
by bonding or as provided or required by law or in any lawful manner. Tenant shall indemnify and save Landlord harmless from and
against any and all liability, loss, cost and expense (including, but not limited to, reasonable attorneys’ fees) in connection
with any such mechanic’s lien.

 

9.6           Graphics.
Landlord shall provide and install, at Tenant’s cost, all
letters or numerals at doors in the Premises. All such letters and numerals shall be in the standard graphics for the Building
and no others shall be used or permitted on the Premises without Landlord’s
prior written consent.

 

This Section 9
shall survive termination or other expiration of the Lease.

 

		10.	INSURANCE AND INDEMNIFICATION.

 

10.1. Tenant shall
carry (at its sole expense and during the Lease Term) fire and extended coverage insurance insuring Tenant’s interest in
its improvements to the Premises and any and all furniture, equipment, supplies, and other property owned, leased, held or possessed
by it and contained therein, such insurance coverage to be in an amount equal to the full insurable value of such improvements
and property, as such may increase from time to time, and workmen’s compensation insurance shall include Landlord as a loss
payee as its interests may appear. Tenant shall also procure and maintain throughout the Lease Term a policy or policies of insurance,
insuring Tenant, Landlord and any other person designated by Landlord, against any and all liability for injury to or death of
a person or persons and for damage to property occasioned by or arising out of any construction work being done on the Premises,
or arising out of the condition, use, or occupancy of the Premises, or in any way occasioned by or arising out of the activities
of Tenant, its agents, employees, guests, or licensees in the Premises, or other portions of the Building, or the Property, which
policy or policies shall include contractual liability coverage insuring Tenant’s indemnity obligations under this Lease.
Tenant shall have included in all policies of insurance obtained by it with respect to the Premises a waiver by the insurer of
all right of subrogation against Landlord in connection with any loss or damage thereby insured against. To the full extent permitted
by law, Tenant waives all right of recovery against Landlord for, and agrees to release Landlord from liability for, loss or damage
to the Building, Premises or other tangible property, or any resulting loss of income unless such loss or damage results from the
negligence of Landlord, its agents, contractors or employees. All said insurance policies shall be carried with companies licensed
to do business in the State of Florida, at least “A-” rated in the most recent edition of Best’s Insurance Reports,
shall be otherwise reasonably satisfactory to Landlord, and shall be non-cancelable except after thirty (30) days written notice
to Landlord. Duly executed certificates of insurance with respect thereto shall be delivered to Landlord prior to the date that
Tenant takes possession of the Premises and renewals thereof as required shall be delivered to Landlord at least thirty (30) days
prior to the expiration of each respective policy term. All policies carried by Tenant shall be written as primary policies, not
contributing with and not in excess of the coverage which Landlord may carry, and shall only be subject to such deductibles as
may be approved by Landlord in advance in writing. Landlord agrees to carry replacement cost insurance on the Building which as
is customary and reasonable.

 

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10.2.
      Tenant hereby agrees to indemnify and hold Landlord harmless
from any injury, expense, damage, liability or claim, including, but not limited to, attorney’s fees, imposed on Landlord
by any person or other party, whether due to damage to the Premises, claims for injuries to the person or property of any other
tenant of the Building or the Property or of any other person in or about the Building or the Property for any purpose whatsoever;
or administrative or criminal action by a governmental authority, where such injury, expense, damage, liability or claim results
either directly or indirectly from the occupancy or use by Tenant of the Property or the conduct of Tenant’s business thereon,
the construction by Tenant or by any agent or contractor of Tenant of any Tenant Improvements or other improvements in the Premises
or in the Building, the act, omission, negligence, or misconduct of Tenant, or any agents, contractors, servants, or employees
of Tenant, or any other person entering upon the Premises under express or implied invitation or consent of Tenant, the failure
to fully perform any provision of this Lease by Tenant, or any litigation commenced by or against Tenant to which Landlord is made
a party without fault on the part of Landlord. Tenant further agrees to reimburse Landlord for any costs or expenses, including,
but not limited to, court costs and reasonable attorney's fees, which Landlord may incur in investigating, handling or litigating
any such claim or any action by a governmental authority.

 

10.3.     Landlord
hereby agrees to indemnify and hold Tenant harmless from any injury, expense, damage, liability or claim, including, but not limited
to, attorney’s fees, imposed on Tenant by any person or other party, whether due to damage to the Premises, claims for injuries
to the person or property of any other tenant of the Building or the Property or of any other person in or about the Building or
the Property for any purpose whatsoever; or administrative or criminal action by a governmental authority, where such injury, expense,
damage, liability or claim results either directly or indirectly from the occupancy or use by Landlord of the Property or the conduct
of Landlord’s business thereon including the acts of any other Tenant resulting from Landlord’s negligence or willful
intentional conduct, the construction by Landlord or by any agent or contractor of Landlord of any Landlord Improvements or other
improvements in the Premises or in the Building, the act, omission, negligence, or misconduct of Landlord, or any agents, contractors,
servants, or employees of Landlord, the failure to fully perform any provision of this Lease by Landlord, or any litigation commenced
by or against Landlord to which Tenant is made a party without fault on the part of Tenant. Landlord further agrees to reimburse
Tenant for any costs or expenses, including, but not limited to, court costs and reasonable attorney's fees, which Tenant may incur
in investigating, handling or litigating any such claim or any action by a governmental authority.

 

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		11.	CASUALTY DAMAGE.

 

11.1.      If
the Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt written notice thereof to
Landlord.

 

11.2.      If
the Building shall be so damaged that substantial alteration or reconstruction of the Building shall, in Landlord’s sole
opinion, be required (whether or not the Premises shall have been damaged by such casualty) or in the event any mortgagee of Landlord’s
should require that the insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt or
in the event of any material uninsured loss to the Building, Landlord or Tenant, at either’s option, may terminate this Lease
by notifying the other in writing of such termination within ninety (90) days after the date of such damage.

 

11.3.      If
Landlord or Tenant does not thus elect to terminate this Lease, Landlord shall commence and proceed with reasonable diligence to
restore the Building to substantially the same condition in which it was immediately prior to the happening of the casualty, except
that Landlord’s obligation to restore shall not exceed cost of the original construction of the Building or the Premises,
nor shall Landlord be required to spend for such work an amount in excess of the insurance proceeds actually received by Landlord
as a result of the casualty.

 

11.4.      Rent shall recommence
sixty (60) days after Landlord has restored the Premises to Building Standard Improvements, or upon substantial completion of Tenant’s
improvements enabling Tenant to recommence its normal business activity, whichever is later.

 

11.5.      Landlord
shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting in any way from
such damage or the repair thereof. Landlord shall allow Tenant an abatement of rent during the time the Premises are unfit for
occupancy, or Tenant is unable to conduct its normal business activity, whichever is later.

 

11.6.      Waiver
of Subrogation. Notwithstanding anything contained herein to the contrary, Landlord and Tenant hereby release each other and
each other’s employees, agents customers and invitees from any and all liability for any loss of or damage or injury to person
or property occurring in, on, or about or to the Premises, Building or Land by reason of fire or other casualty customarily insured
against under a standard fire and extended coverage insurance policy, regardless of cause, including the negligence of Landlord
or Tenant and their respective employees, agents, customers and invitees, and agree that such insurance carried by either of them
shall contain a clause whereby the insurer waives its right of subrogation against the other party. Because the provisions of this
Section are intended to preclude the assignment of any claim mentioned herein by way of subrogation or otherwise to an insurer
or any other person, each party to this Lease shall give to each insurance company which has issued to it one or more policies
properly endorsed, if necessary, to prevent the invalidation of such insurance by reason of the provision of this Section.

 

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		12.	ASSUMPTION OF RISK.

 

12.1.       Tenant
expressly assumes all liability for or on account of any such injury, loss or damage, and will at all times, indemnify and save
Landlord harmless from and against all liability, damage or expense caused by or arising out of any such injury, loss or damage
to persons or property upon the Premises, including attorney’s fees and costs unless caused by the negligence or willful
or intentional conduct of Landlord, its agents or employees.

 

		13.	EMINENT DOMAIN.

 

If the whole or any
part of the Premises shall be taken for public or quasi-public use by a governmental or other authority having the power of eminent
domain or shall be conveyed to such authority in lieu of such taking, and if such taking or conveyance shall cause the remaining
part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then either
Landlord or Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises
by giving written notice of such to the other party. All compensation awarded for such taking or conveyance shall be the property
of Landlord without any deduction therefrom for any present or future estate of Tenant, and Tenant hereby assigns to Landlord all
of its right, title and interest in and to any such award. However, Tenant shall have the right to recover from such authority,
but not from Landlord, such compensation as may be separately awarded to Tenant on account of moving and relocation expenses and
depreciation to and removal of Tenant’s property and any other cause of action, so long as it does not result in any diminution
of Landlord’s award.

 

		14.	DAMAGES FROM CERTAIN CAUSES.

 

Landlord, except for
its negligence or willful misconduct, shall not be liable to Tenant for any loss or damage to any property or person occasioned
by theft, fire, act of God, public enemy, injunction, riot, strike, insurrection, war, court order, requisition, or order of governmental
body or authority or by any other cause beyond the control of Landlord, or for any damage or inconvenience which may arise through
repair or alterations of any part of the Building or Premises.

 

		15.	RENTAL, PERSONAL PROPERTY AND OTHER TAXES.

 

Tenant shall pay before
delinquency any and all taxes, assessments, fees or charges, including, any sales, gross income, rental, business occupation or
other taxes, levied or imposed upon Tenant’s business operations in the Premises and any personal property or similar taxes
levied or imposed upon Tenant’s trade fixtures, leasehold improvements or personal property located within the Premises.
In the event any such taxes, assessments, fees or charges are charged to the account of, or are levied or imposed upon the property
of Landlord, Tenant shall reimburse Landlord for the same. Notwithstanding the foregoing, Tenant shall have the right to contest
in good faith any such item and to defer payment until after Tenant’s liability therefore is finally determined.

 

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16.         ASSIGNMENT,
SUBLETTING, PLEDGING OR ENCUMBERING OF LEASE.

 

Tenant will not assign
this Lease, in whole or in part, nor sublet all or any part of the Premises, without the prior written consent of the Landlord.

 

17.         SALE
AND CONVEYANCE OF THE BUILDING BY LANDLORD. 

 

Landlord shall have
the right to sell and convey the Building at any time during the Term of this Lease subject only to the rights of Tenant hereunder.

 

18.         SUBORDINATION
TO MORTGAGE BY LANDLORD.

 

18.1.       This
Lease is and shall be subject and subordinate to any mortgage, ground Lease, or other lien created by Landlord, whether presently
existing or hereafter arising upon the Premises, the Building, or the Property and to any renewals, refinancing and extensions
thereof.

 

18.2.       Landlord
is hereby irrevocably vested with full power and authority to subordinate this Lease to any mortgage, or other lien now existing
or hereafter placed upon the Premises, or the Building as a whole, and Tenant agrees upon demand to execute such further instruments
subordinating this Lease or attorning to the holder of any such liens as Landlord may request. Landlord shall obtain from any such
lien holder or mortgage holder, a SNDA agreement for the benefit of the Tenant.

 

18.3.       The
terms of this Lease are subject to approval by the Landlord’s permanent lender(s), and such approval is a condition precedent
to Landlord’s obligations hereunder. Tenant shall from time to time, if so requested by Landlord and if doing so will not
materially and adversely affect Tenant’s economic interests hereunder, join with Landlord in amending this Lease so as to
meet the needs and requirements of any lender that is considering making or that has made a loan secured by the Property or any
portion thereof. [Discuss as to status]

 

18.4.       Tenant
agrees that it will from time to time, within ten (10) business days after request by Landlord, execute and deliver to such persons
as Landlord shall request a statement in recordable form certifying that this Lease is unmodified and in full force and effect
(or if there have been modifications, that the same is in full force and effect as so modified), stating the dates to which rent
and other charges payable under this Lease have been paid, stating that Landlord is not in default hereunder (or if Tenant alleges
a default stating the nature of such alleged default) and further stating such other matters as Landlord or its mortgagee(s) shall
reasonably require.

 

18.5.       Tenant
shall, in the event of the sale or assignment of Landlord’s interest in the Building of which the Premises form a part or
in the event of any proceedings brought for the foreclosure of, or in the event of exercise of the power of sale under, any mortgage
made by Landlord covering the Premises, attorn to the purchaser and recognize the purchaser as Landlord under this Lease. Landlord
shall obtain an SNDA agreement for the benefit of Tenant.

 

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In no event shall any
lender or purchaser acquiring the Building or Property through foreclosure, deed in lieu of foreclosure, exercise of the power
of sale, or purchase from Landlord unless expressly assumed, be:

 

(a)          liable
for any act or omission of Landlord or any prior Landlord;

 

(b)          liable
for the return of any security deposit.

 

(c)          subject
to any offsets or defenses that the Tenant might have had against the Landlord or any prior landlords;

 

(d)          bound
by any payment or rent or additional rent that Tenant might have paid to Landlord or any prior landlords for more than the current
month; or

 

(e)          bound
by any amendment or modification of lease made without the lender’s or such other purchaser’s prior written consent.

 

18.6.        Provided
that Landlord has previously notified Tenant of Lender’s[Not defined who lender is] address for notice, Tenant agrees to
give prompt written notice to lender of any default by Landlord that would entitle Tenant to cancel this Lease, and agrees that
notwithstanding any provision of this Lease, no notice of cancellation thereof given on behalf of Tenant shall be effective unless
lender has received said notice and has failed within thirty (30) days of the date of receipt thereof to cure Landlord’s
default, or if the default cannot be cured within thirty (30) days, has failed to commence and diligently pursue the cure of Landlord’s
default which gave rise to such right of cancellation. Tenant further agrees to give such notices to any successor of lender, provided
that such successor shall have given written notice of Tenant of its acquisition of lender's interest in the Mortgage and designated
the address to which such notices are to be sent.

 

18.7.       Tenant
acknowledges that Landlord may execute and deliver to lender an Assignment of Leases and Rents conveying the rentals under this
Lease as additional security for the loan secured by a lien on the building, and Tenant hereby expressly consents to such Assignment.

 

18.8.       Tenant
agrees that it will not, without the prior written consent of Lender, do any of the following, and any such purported action without
such consent shall be void as against Lender:

 

(a)          modify
this Lease or any extensions or renewals thereof in such a way as to reduce the Rent, accelerate Rent payments, shorten the original
term or change any renewal option;

 

(b)            terminate
this Lease except as provided by its terms; or

 

(c)            tender
or accept a surrender of this Lease or make prepayment in excess of one month of rent thereunder.

 

18.9.       Tenant
agrees to certify in writing to Lender, upon request, whether, or, not any default on the part of Landlord exists and the nature
of any such default.

 

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18.10.      The
foregoing provisions shall be self-operative and effective without the execution of any further instruments on the part of Lender
or Tenant. However, Tenant agrees to execute and deliver to Lender or to any person to whom Tenant herein agrees to attorn such
other instruments as either shall request in order to effectuate said provisions.

 

18.11.      If
Tenant should fail to execute any subordination or other agreement required by this Section, promptly as requested, Tenant hereby
irrevocably constitutes Landlord as its attorney-in-fact to execute such instrument in Tenant’s name, place and stead, it
being agreed that such power is one coupled with an interest.

 

		19.	EVENTS OF DEFAULT/REMEDIES.

 

19.1.        Events
of Default by Tenant. The happening of any one or more of the following listed events (Events of Default) shall constitute
a breach of this Lease by Tenant:

 

(a)          The
failure of Tenant to pay any rent or any other sums of money due hereunder and such failure continues for a period of five (5)
business days after the last date on which such sum is due;

 

(b)          The
failure of Tenant to comply with any material provision of this Lease.

 

(c)          The
taking of the leasehold on execution or other process of law in any action against Tenant;

 

(d)          The
failure of Tenant to accept the Premises, and to make timely rental payments;

 

(e)          Tenant
becoming insolvent or unable to pay its debts as they become due, or Tenant’s notification to Landlord that it anticipates
either condition;

 

(f)          Tenant
taking any action to, or notifying Landlord that Tenant intends to, file a petition under the United States Bankruptcy Code, as
amended, or any similar law or statute of the United States, or any state; or, the filing of a Petition against Tenant under any
such statute or Tenant, or, any other creditor of Tenant notifying Landlord that it knows such a Petition will be filed; or the
Tenant’s notification to Landlord that it expects such a Petition to be filed;

 

(g)          The
appointment of a receiver or trustee for Tenant’s leasehold interest in the Premises or for all or a substantial part of
the assets of Tenant.

 

19.2.       Landlord’s
Remedies for Tenant Default. Upon the occurrence of any event or events of default by Tenant, whether enumerated in Section
19.1 or not, Landlord shall have the option, after ten (10) business days written notice to Tenant and Tenant has not cured
said Default or have an additional 30 days within which to cure such default (monetary defaults excepted) or be making a good faith
effort to cure if additional time may be necessary, at Landlord’s election, to pursue any one or more of the following remedies:

 

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(a)          Landlord
may cancel and terminate this Lease and dispossess Tenant and recover all arrearages in rent through the date of termination. Additionally,
Tenant agrees to indemnify Landlord for all loss, costs, damage or expense, including but not limited to, reasonable attorneys’
fees, which Landlord may suffer from reason of such termination, whether through inability to relet the Premises or through decrease
in rent, or otherwise;

 

(b)          Landlord
may elect to enter and repossess the Premises and relet the Premises for Tenant’s account, holding Tenant liable in damages
for all expenses incurred in any such reletting and for any difference between the amount of rent received from such reletting
and the amount due and payable under the terms of this Lease;

 

19.3.       Events
of Landlord Default.

 

(a)          If
Tenant asserts that Landlord has failed to meet its obligations under this Lease, Tenant shall give written notice (Notice of Default),
to Landlord specifying the alleged failure to perform, and Tenant shall send by certified mail, return receipt requested, a copy
of such Notice to Default to any mortgage holder, (provided that Tenant has been previously advised of the identity and address
of the mortgage holder by Assignment of Rents or otherwise).

 

(b)          If
Landlord has not begun and pursued with reasonable diligence the cure of any failure to meet its obligation under this Lease within
thirty (30) days of receipt of the Notice of Default, then Landlord shall be in default.

 

(c)          If
Landlord shall have failed to cure such default within the time set forth above, then the mortgagees shall have an additional thirty
(30) days within which to cure such default or if such default cannot be cured with that time, then such additional time as may
be necessary if within such thirty (30) days any mortgagee has commenced and is diligently pursuing the remedies necessary to cure
such default, including, but not limited to, commencement of foreclosure proceedings if necessary to effect such a cure, in which
event this Lease shall not be terminated while such remedies are being so diligently pursued.

 

(d)          Except
as provided in Section 8.3 of this Lease, Tenant shall not have the right to terminate or rescind this Lease as a result of Landlord’s
default as to any covenant or agreement contained in this Lease so long as Tenant is able to conduct its normal business operation,
or as a result of the breach of any promise or inducement hereof, whether in this Lease or elsewhere. Tenant hereby waives such
remedies of termination and rescission and hereby agrees that Tenant’s remedies for default hereunder and for breach of any
promise or inducement shall be limited to a suit for damages or an injunction or both.

 

19.4.       Non-Waiver
of Defaults. The failure or delay by either party hereto to exercise or enforce at any time any of the rights or remedies or
other provisions of this Lease shall not be construed to be a waiver thereof nor affect the validity of any part of this Lease
or the right of either party thereafter to exercise or enforce each and every such right or remedy or other provision. No waiver
of any default or breach of the Lease shall be deemed to be a waiver of any other default or breach. The remedies of Landlord under
this Lease shall be cumulative, and no one of them shall be construed as exclusive of any other or of any remedy provided at law
or in equity. The exercise of any one such right or remedy by Landlord shall not impair its standing to exercise any other right
or remedy.

 

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19.5         Attorneys’
Fees. If either Landlord or Tenant brings suit against the other to recover any sums owed under this Lease or to otherwise
enforce compliance with the terms, covenants and conditions of this Lease, the prevailing party shall be entitled to receive from
the other party reasonable attorneys' fees and other costs and expenses incurred by such party in connection with such suit regardless
of whether such suit is prosecuted to judgment. As used herein, “prevailing party” shall mean, in the case of a claimant,
one who is successful in obtaining substantially all of the relief sought, and in the case of defendant or respondent, one who
is successful in denying substantially all of the relief sought by the claimant.

 

		20.	NOTICES.

 

(a)          The
Tenant shall pay the rent and shall forward all notices to Landlord at the following address (or at such other place as Landlord
may hereafter designate in writing):

 

The Roskmap Institute

Attn: James Humphrey, COO

2040 Whitfield Ave

Sarasota, FL 34243

 

(b)          The
Landlord shall forward all notices to Tenant at the following address (or at such other placed as Tenant may hereafter designate
in writing):

 

Star Scientific, Inc.

4470 Cox Road

Suite 110

Glen Allen, VA 23060

 

(c)          Any
notice provided for in this Lease shall be effective upon receipt, and unless otherwise expressly provided herein, be in writing,
and may, unless otherwise expressly provided, be given or be served by depositing the same in the United States mail, postage prepaid
and certified and addressed to the party to be notified with return receipt requested, or by delivering the same in person to an
officer of such party, or by use of recognized overnight delivery services.

 

(d)          Notice
deposited in the mail in the manner herein above shall be effective upon receipt, unless such mail is unclaimed, in which event
notice shall be effective five (5) days after the date of mailing.

 

		21.	MISCELLANEOUS GENERAL PROVISIONS.

 

21.1.      Condition
of Premises. Tenant acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with
respect to the Premises or the Building or with respect to the suitability or condition of any part of the Building for the conduct
of Tenant’s business except as provided in this Lease.

 

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21.2.      Insolvency
or Bankruptcy. In no event shall this Lease be assigned or assignable by operation of law, and in no event shall this Lease
be an asset of Tenant in any receivership, bankruptcy, insolvency, or reorganization proceeding, pursuant to the provisions of
Section 8.3.

 

21.3.      Choice
of Law. This Lease shall be governed by and construed pursuant to the laws of the State of Florida.

 

21.4.      Successors
and Assigns. Except as otherwise provided in this Lease, all of the covenants, conditions and provisions of this Lease shall
be binding upon and shall inure to the benefit of the parties hereto and their respective heirs, personal representatives, successors
and assigns.

 

21.5.      Name.
Tenant shall not, without the written consent of Landlord, use the name of the Building for any purpose other than as the address
of the business to be conducted by Tenant in the Premises, and in no event shall Tenant acquire any rights in or to such names.

 

21.6.      Examination
of Lease. Submission of this instrument for examination or signature to Tenant does not constitute a reservation of or option
for lease, and it is not effective as a lease or otherwise until execution by and delivery to both Landlord and Tenant.

 

21.7.      Time
and Consent. Time is of the essence of this Lease and each and all of its provisions. Whenever the consent of Landlord or Tenant
is required under this Lease, such consent shall not be unreasonably withheld unless stated otherwise herein.

 

21.8.      Construction.
The words “Landlord” and “Tenant” as used herein shall include the plural as well as the singular. If more
than one person is named as Tenant, the obligations of such persons are joint and several. The marginal headings and titles to
the articles of this Lease are not a part of this Lease and shall have no effect upon the construction or interpretation of any
part hereof. All references in this Lease to articles or sections are to articles or sections contained in this Lease unless a
different document is expressly specified. All exhibits hereto are incorporated herein by reference and made a part hereof with
the same effect as if set out in full herein.

 

21.9.      Prior
Agreements. This Lease contains all of the agreements of the parties hereto with respect to any matter covered or mentioned
in this Lease, and no prior agreement, understanding or representation pertaining to any such matter shall be effective for any
purpose. No provision of this Lease may be amended or added to except by an agreement in writing signed by the parties hereto or
their respective successors in interest.

 

21.10.    Severability
of Invalid Provisions. If any provision of this Lease shall be held to be invalid, void or unenforceable, the remaining provisions
hereof shall not be affected or impaired, and such remaining provisions shall remain in full force and effect.

 

21.11     Definition
of the Relationship between the Parties. Landlord shall not, by virtue of the execution of this Lease or the leasing of the
Premises to Tenant, become or be deemed a partner of or joint venturer with Tenant in the conduct of Tenant’s business on
the Premises or otherwise.

 

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21.12.    Force
Majeure. Landlord and Tenant shall be excused for the period of any delay in the performance of any obligation hereunder, when
such delay is occasioned by causes beyond its reasonable control, including, but not limited to, war, invasion or hostility; work
stoppages, boycotts, slow-downs or strikes; shortages of materials, equipment, labor or energy; man-made or natural casualties;
weather conditions; acts or omissions of governmental or political bodies; or civil disturbances or riots. Said obligation to pay
rent shall be determined as provided in Section 8.3 of this Lease.

 

21.13.    Quiet
Enjoyment. Landlord agrees that if Tenant performs all of the covenants and agreements herein provided to be performed by Tenant,
Tenant shall, at all times during the Term of this Lease, have the peaceable and quiet enjoyment of the Premises without any manner
of hindrance from Landlord or any persons claiming under Landlord.

 

21.15.    Definitions.
The definitions set forth in Section 2 are hereby made part of this Lease.

 

21.16.  Exhibits. Exhibits
“A”, “B” are attached hereto and incorporated herein and made a part of this Lease for all purposes:

 

	Exhibit Number	 	Description
	 	 	 
	“A”	 	Building Legal Description
	“B”	 	Premises Floor Plan
	“C”	 	Common Areas

 

21.17.      Landlord’s
Alterations. Landlord has the right to make changes in and about the Building and the Property, and all improvements located
thereon, including without limitation the parking areas, signs, entrances, and the address or name of Building. Such changes may
include, but not be limited to, rehabilitation, redecoration, refurbishment and refixturing of the Building and expansion of or
structural changes to the Building. Tenant agrees that:

 

(a)          Landlord
shall have access to the Premises at all reasonable times, upon reasonable notice, for the purpose of performing such work, and

 

(b)          Landlord
shall incur no liability to Tenant, nor shall Tenant be entitled to any abatement of rent on account of any noise, vibration, or
other disturbance to Tenant’s business at the Premises (provided that Tenant is not denied access to said Premises and that
such work does not unreasonably prevent Tenant from conducting its business in the Premises) which shall arise out of said access
by Landlord or by the performance by Landlord of the aforesaid renovations at the Building. Landlord will use its best efforts
not to interfere with Tenant’s ability to conduct its business.

 

The right of Tenant to quiet enjoyment
and peaceful possession given under the Lease will not be deemed breached or interfered with by reason of Landlord’s actions
pursuant to this Section so long as such actions do not materially deprive Tenant of its use and enjoyment of the Premises.

 

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21.18.     Radon Disclosure.
Radon is a naturally occurring radioactive gas that, when it has accumulated in a building in sufficient quantities, may present
health risks to persons who are exposed to it over time. Levels of radon that exceed federal and state guidelines have been found
in buildings in Florida. Additional information regarding radon and radon testing may be obtained from your county public health
unit.

 

21.19.      Cable.
Tenant may, at its sole cost and expense, install cable TV wiring in the Premises. The location and method of installation shall
be approved by Landlord which approval shall not be unreasonably withheld, delayed or conditioned.

 

21.20.      Americans
With Disabilities Act. In the event that the Premises or Building do not comply with the Americans with Disabilities Act of
1990 at the time of delivery to Tenant, it will be the Landlord’s responsibility to bring the Premises and Building into
compliance at Landlord’s expense.

 

21.21.      Hazardous
Materials.

 

(a)          To
the best of Landlord’s knowledge, no hazardous waste or hazardous substances (as defined under federal law or by the laws
of the state or municipality in which the Building is located, and including but not limited to asbestos and petroleum related
products) (“Hazardous Materials”) have been generated, treated, stored, disposed of or deposited in the leased space
as defined in exhibit “B”. Landlord has not received a summons, directive, notice or other communication, written or
oral, from any federal, state or local environmental protection or similar body or any other person concerning (i) any alleged
violation of any environmental law or regulation at the Building; or (ii) any investigation or request for information relating
to the handling, packaging, transportation, treatment, storage or disposal of Hazardous Materials on-site or when transported off-site.

 

(b)          Landlord
covenants and agrees to indemnify, protect and save Tenant, its employees, agents, officers, directors, shareholders and partners,
harmless against and from any and all damages and liabilities of any kind or of any nature whatsoever (including, without limitation,
reasonable attorneys’ and experts’ fees and disbursements), known or unknown, foreseen or unforeseen, which may at
any time be imposed upon, incurred by or asserted or awarded against Tenant, its employees, agents, officers, directors, shareholders
and partners, or the Building or any portion thereof and arising from or out of any Hazardous Materials on, in, under or affecting
all or any portion of the Building; introduced by, present on, in or under all or any portion of the Premises or Building, from
anytime prior to acquiring the Building, or on behalf of, Landlord. This indemnity shall survive the expiration or earlier termination
of this Lease. Landlord represents and warrants there are no Hazardous Materials on, in, under or about the leased space as defined
in exhibit “B”.

 

(c)          Tenant
covenants and agrees to indemnify, protect and save Landlord harmless against and from any and all damages and liabilities of any
kind or of any nature whatsoever (including, without limitation, reasonable attorneys’ and experts’ fees and disbursements),
known or unknown, foreseen or unforeseen, which may at any time be imposed upon, incurred by or asserted or awarded against Landlord
or the Building or any portion thereof and arising from or out of any Hazardous Materials on, in, under or affecting all or any
portion of the Building, introduced by, or on behalf of, Tenant.

 

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		22.	SIGNAGE.

 

Tenant shall be entitled
to have its name included in any directory of tenants displayed by Landlord in any Common Area and to have signage referencing
Tenant’s name displayed in a reasonable manner immediately adjacent to the Tenant’s entrance to the Premise.

 

		23.	PARKING.

 

Landlord shall provide
during the term of this Lease and all extensions or renewals thereof, at no additional cost to Tenant, non-reserved parking spaces
for use of Tenant, its officers, employees, agents and invitees in the parking lot on the Land.

 

		24.	RIGHT OF FIRST REFUSAL.

 

INTENTIIONALLY DELETED

 

		25.	NON-COMPETE.

 

INTENTIONALLY DELETED

 

		26.	MOLD.

 

Should the presence
of mold in the Premises or Building result in a condition where Tenant is unable to conduct its normal business, rent payments
shall be abated until Tenant is able to recommence its normal business. Landlord shall be responsible for actions required to remedy
the condition. Provisions of Section 8.3 shall apply.

 

IN WITNESS WHEREOF,
the parties have executed this Lease as of the day and year first written above.

 

	 	LANDLORD:
	 	 
	 	The Roskamp Institute Inc.
	 	 
	Date: March 13, 2014	/s/ James Humphrey
	 	James Humphrey, COO
	 	 
	 	TENANT:
	 	 
	 	Star Scientific, Inc.
	 	 
	Date: March 13, 2014	/s/Christopher C. Chapman
	 	Christopher C. Chapman, President

 

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EXHIBIT “A”

 

BUILDING LEGAL DESCRIPTION 

 

HE N 247 FT OF THE FOL DESC PROP; BEG AT
NE COR OF NW1/4 OF SEC 30, TWN 35 RNG 18; TH S 00 DEG 26 MIN 23 SEC E ALG E LN OF SD NW1/4 OF SEC 30, 30.00 FT TO INTERSEC OF S
R/W OF WHITFIELD AVE & E R/W OF A 50 FT WIDE CO RD EASMT; TH W, PARALLEL TO N LN OF SD SEC 30 AND 30.00 FT THEREFROM 50.00
FT TO INTERSEC OF W R/W OF SD CO RD EASMT AND THE S R/W OF SD WHITFIELD AVE FOR A POB; TH CONT W, ALG SD S R/W OF SD WHITFIELD
AVE, PARALLEL TO N LN OF SD SEC 30, AND 30.00 FT THEREFROM 308.00 FT; TH S 00 DEG 26 MIN 23 SEC E, PARALLEL TO SD E LN OF NW1/4
OF SEC 30, 595.48 FT; TH E, PARALLEL TO N LN OF SD SEC 30, 308.00 FT TO THE INTERSEC OF SD LN AND THE W R/W OF SD CO RD EASMT;
TH N 00 DEG 26 MIN 23 SEC W ALG SD W R/W, 595.48 FT TO THE POB, BEING AND LYING IN NE1/4 OF NW1/4 OF SEC 30, TWN 35, RNG 18 (AS
DESC IN ORB 887 P 1857) PRMCF (1815/3730) PI#19784.1000/7

  

    	22

    	 

    

 

EXHIBIT “B”

 

PREMISES FLOOR PLAN

 

    	1

    	 

    

  

  

    	2

    	 

    

 

EXHIBIT “C”

 

Common Area floor Plan

 

    	1

    	 

    

  

 

    	2Exhibit 10.5 

 

SECURITIES
PURCHASE AND REGISTRATION RIGHTS AGREEMENT

 

Between

 

ROCK CREEK
PHARMACEUTICALS, INC.,

 

as
Issuer,

 

And

 

_______________________,

 

as
Investor.

 

Dated: August 8, 2014

  

 

 

    	 

    	 

    

 

This SECURITIES PURCHASE
AND REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is entered into and effective as of August 8, 2014, between
Rock Creek Pharmaceuticals, Inc., a Delaware corporation (the “Company”), and ______________________________
(“Investor”).

 

WHEREAS, the Company
and Investor desire that Investor will purchase from the Company, and the Company will issue and sell to Investor (or an individual
retirement account behalf of Investor), upon the terms and conditions set forth in this Agreement: (a) the number of shares of
the Company’s common stock, par value $0.0001 per share (“Common Stock”), set forth under the heading
“Shares” on Schedule I attached hereto (the “Shares”), and (b) a warrant, substantially
in the form attached hereto as Exhibit A (the “Warrant”), to purchase the number of shares of the Company’s
Common Stock set forth under the heading “Warrant Shares” on Schedule I attached hereto (the “Warrant
Shares”), having an exercise price of $1.00 per Warrant Share (the “Exercise Price”) (a Share and
a Warrant Share purchasable under a Warrant, collectively a “Unit”);

 

WHEREAS, the purchase
price paid by Investor for each Unit shall be the price set forth under the heading “Purchase Price Per Unit” on Schedule
I attached hereto; and

 

WHEREAS, Investor will
have registration rights with respect to the Shares, the Warrant Shares, and the other Registrable Securities (as defined herein)
pursuant to the terms of this Agreement.

 

NOW, THEREFORE, in
consideration of the foregoing premises and the covenants contained herein and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

1.          Agreement
to Sell and Purchase the Shares and the Warrant. At the Closing (as defined below), the Company will sell to Investor, and
Investor will purchase from the Company, upon the terms and subject to the conditions hereinafter set forth, the Shares and the
Warrant for the aggregate purchase price set forth under the heading “Aggregate Purchase Price” on Schedule I
attached hereto.

 

2.          Delivery
of the Shares and the Warrant at Closing; Future Equity Participation.

 

(a)          The
completion of the purchase, sale and issuance of the Shares and the Warrant (the “Closing”) shall occur on August
8, 2014 or on such other date as the Company and Investor shall agree (the “Closing Date”), at the offices of
the Company’s counsel. At the Closing, the Company shall issue to Investor: (i) one or more stock certificates, registered
in Investor’s name and address as set forth on Schedule I attached hereto, representing the Shares, and (ii) the Warrant
issued in the name of Investor.

 

The Company’s
obligation to issue the Shares and the Warrant to Investor shall be subject to the following conditions, any one or more of which
may be waived by the Company: (i) receipt by the Company of a wire transfer of immediately available funds to an account designated
in writing by the Company, in the full amount of the total purchase price payable by Investor for the Shares and the Warrant that
Investor is hereby agreeing to purchase, as set forth under the heading “Aggregate Purchase Price” on Schedule I
attached hereto; and (ii) the accuracy, in all material respects, of the representations and warranties made by Investor and the
fulfillment, in all material respects, of those undertakings of Investor to be fulfilled prior to the Closing.

 

    	 

    	 

    

  

Investor’s obligation
to purchase the Shares and the Warrant shall be subject to the following conditions, any one or more of which may be waived by
Investor (provided that no such waiver shall be deemed given unless in writing and executed by Investor): (i) receipt by Investor
of a counter-signed copy of this Agreement executed by the Company; (ii) receipt by Investor of a copy of the Warrant; and (iii)
the accuracy, in all material respects, of the representations and warranties made by the Company and the fulfillment, in all material
respects, of those undertakings of the Company to be fulfilled prior to the Closing.

 

(b)       The
Company shall not issue to Investor any Shares or Warrant Shares under this Agreement until such time when such shares proposed
to be issued, when aggregated with all other shares then owned beneficially (as calculated pursuant to (i) Section 13(d) of the
Securities Exchange Act of 1934 and Rule 13d-3 promulgated thereunder and (ii) the rules and regulations of the NASDAQ Global Market)
by Investor would not result in the beneficial ownership by Investor of more than 9.99% of the then issued and outstanding shares
of Common Stock (the “Ownership Cap”), without the prior written consent of Investor. The Ownership Cap shall
be appropriately adjusted for any stock dividend, stock split, reverse stock split or similar transaction.

 

3.           Representations,
Warranties and Covenants of the Company. The Company hereby represents and warrants to, and covenants with, Investor as follows
as of the date of this Agreement and as of the Closing Date:

 

3.1.          Organization.
Each of the Company and its Subsidiaries (for purposes of this Agreement, as defined in Rule 405 under the Securities Act of 1933,
as amended (the “Securities Act”)) is duly organized and validly existing in good standing under the laws of
the jurisdiction of its organization. Each of the Company and its Subsidiaries has full power and authority to own, operate and
occupy its properties and to conduct its business as presently conducted and is registered or qualified to do business and in good
standing in each jurisdiction in which it owns or leases property or transacts business and where the failure to be so qualified
would have a material adverse effect upon the financial condition or business, operations, assets or prospects of the Company and
its Subsidiaries, taken as a whole (a “Material Adverse Effect”).

 

3.2.          Due
Authorization. The Company has all requisite power and authority to execute, deliver and perform its obligations under this
Agreement and the Warrant, and has taken all necessary corporate action to enter into and perform this Agreement, to issue the
Shares in accordance with the terms of this Agreement, to enter into and perform the Warrant, and to issue the Warrant Shares in
accordance with the terms of the Warrant. This Agreement has been, and upon the Closing in accordance with the terms of this Agreement,
the Warrant will be, duly authorized, validly executed and delivered by the Company and constitutes, or will constitute, a legal,
valid and binding agreement of the Company enforceable against the Company in accordance with its terms, except as enforceability
may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ and
contracting parties’ rights generally and except as enforceability may be subject to general principles of equity (regardless
of whether such enforceability is considered in a proceeding in equity or at law). Upon their issuance in accordance with the terms
of this Agreement, the Shares will be duly authorized, validly issued, fully paid and non-assessable, the Warrant will be duly
authorized and validly issued, and the Warrant Shares, upon exercise of the Warrant in accordance with its terms, will be duly
authorized.

 

    	2

    	 

    

  

3.3.          Non-Contravention.
Except as would not reasonably be expected to have a Material Adverse Effect, the execution and delivery of this Agreement, the
issuance and sale of the Shares and the Warrant under this Agreement, the fulfillment of the terms of this Agreement and the consummation
of the transactions contemplated hereby will not (i) conflict with or constitute a violation of, or default (with or without the
giving of notice or the passage of time or both) under, (A) any material bond, debenture, note or other evidence of indebtedness,
or under any material lease, indenture, mortgage, deed of trust, loan agreement, joint venture or other agreement or instrument
to which the Company or any Subsidiary is a party or by which it or any of its Subsidiaries or their respective properties are
bound, (B) the charter, by-laws or other organizational documents of the Company or any Subsidiary, or (C) any law, administrative
regulation, ordinance or order of any court or governmental agency, arbitration panel or authority applicable to the Company or
any Subsidiary or their respective properties, or (ii) result in the creation or imposition of any lien, encumbrance, claim, security
interest or restriction whatsoever upon any of the material properties or assets of the Company or any Subsidiary or an acceleration
of indebtedness pursuant to any obligation, agreement or condition contained in any material bond, debenture, note or any other
evidence of indebtedness or any material indenture, mortgage, deed of trust or any other agreement or instrument to which the Company
or any Subsidiary is a party or by which any of them is bound or to which any of the property or assets of the Company or any Subsidiary
is subject. No consent, approval, authorization or other order of, or registration, qualification or filing with, any regulatory
body, administrative agency, self-regulatory organization, stock exchange or market, or other governmental body in the United States
is required for the execution and delivery of this Agreement or the valid issuance and sale of the Shares and the Warrant pursuant
to this Agreement, other than such as have been or will be made or obtained prior to the Closing Date, and except for any securities
filings required to be made under federal or state securities laws.

 

3.4.          SEC
Filings. Since January 1, 2013, the Company and its Subsidiaries have filed all reports, schedules, forms, statements and other
documents required to be filed by them with the Securities and Exchange Commission (the “Commission”) pursuant
to the reporting requirements of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (such
reports, including exhibits thereto and documents incorporated by reference therein, collectively, the “SEC Documents”).
To the best of the Company’s knowledge, as of their respective filing dates, none of the SEC Documents contained an untrue
statement of material fact or omitted to state a material fact required to be stated therein or necessary in order to make the
statements made therein, in the light and circumstances under which they were made, not misleading, except to the extent corrected
by subsequently filed or furnished SEC Documents.

 

3.5.          Absence
of Certain Changes. Except as disclosed in the SEC Documents or otherwise publicly disclosed by the Company, since January
1, 2014, there has been no adverse change or adverse development in the business, properties, assets, operations, financial condition,
prospects, liabilities or results of operations of the Company or its Subsidiaries which, to the knowledge of the Company, would
reasonably be expected to have a Material Adverse Effect.

 

    	3

    	 

    

  

3.6.          Capitalization.
As of August 8, 2014, the authorized capital stock of the Company consists of (i) 274,800,000 shares of Common Stock, of which
182,372,235 shares are issued and outstanding and 52,977,580 shares are issuable and reserved for issuance pursuant to the Company’s
stock option plans or securities exercisable or exchangeable for, or convertible into, shares of Common Stock, and (ii) 100,000
shares of preferred stock, of which, as of the date hereof, no shares are issued. All of such outstanding shares have been, or
upon issuance will be, validly issued, fully paid and nonassessable. Except as disclosed in the SEC Documents or in connection
with the Concurrent Financing (as defined below), as of the date hereof, (i) no shares of the Company’s capital stock are
subject to preemptive rights or any other similar rights or any liens or encumbrances suffered or permitted by the Company, (ii)
there are no outstanding options, warrants, scrip, rights to subscribe to, calls or commitments of any character whatsoever relating
to, or securities or rights convertible into, any shares of capital stock of the Company or any of its Subsidiaries, or contracts,
commitments, understandings or arrangements by which the Company or any of its Subsidiaries is or may become bound to issue additional
shares of capital stock of the Company or any of its Subsidiaries or options, warrants, scrip, rights to subscribe to, calls or
commitments of any character whatsoever relating to, or securities or rights convertible into, any shares of capital stock of the
Company or any of its Subsidiaries, (iii) there are no outstanding securities of the Company or any of its Subsidiaries which contain
any redemption or similar provisions, and there are no contracts, commitments, understandings or arrangements by which the Company
or any of its Subsidiaries is or may become bound to redeem a security of the Company or any of its Subsidiaries, and (iv) the
Company does not have any stock appreciation rights or “phantom stock” plans or agreements or any similar plan or agreement.
The Company disclosed in its SEC Documents or has furnished to Investor true and correct copies of the Company’s Tenth Amended
and Restated Certificate of Incorporation, as amended and as in effect on the date hereof (the “Certificate of Incorporation”),
and the Company’s By-laws, as amended and as in effect on the date hereof (the “By-laws”). For purposes
of this Agreement, “Concurrent Financing” means the various third party financing arrangements the Company is
executing pursuant to the agreements described on Schedule 3.6 (the “Concurrent Financing”) separate
and apart from the transactions contemplated by this Agreement.

 

3.7.          Broker.
The Company has taken no action which would give rise to any claim by any person for brokerage commissions, finder’s fees
or similar payments by the Company or Investor relating to this Agreement or the transactions contemplated hereby.

 

3.8.          No
Material Non-Public Information. The Company has not provided any material non-public information to Investor.

 

3.9.          Certain
Proceedings. The Company is not the subject of a voluntary bankruptcy or solvency action, has not made a general assignment
for the benefit of creditors, and has not taken any corporate action to authorize any of the foregoing.

 

4.           Representations,
Warranties and Covenants of Investor. Investor represents and warrants to, and covenants with, the Company as follows as of
the date of this Agreement and as of the Closing Date:

 

    	4

    	 

    

  

4.1.          Due
Authorization; Organization. Investor has all requisite power, authority and capacity to execute, deliver and perform his/its
obligations under this Agreement, and has taken all necessary corporate, company, partnership or individual action, as the case
may be, to enter and perform this Agreement. This Agreement has been duly authorized and validly executed and delivered by Investor
and constitutes a legal, valid and binding agreement of Investor enforceable against Investor in accordance with its terms, except
as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’
and contracting parties’ rights generally and except as enforceability may be subject to general principles of equity (regardless
of whether such enforceability is considered in a proceeding in equity or at law). Any individual retirement account (“IRA”)
to which the Shares, the Warrant, or the Warrant Shares may be issued and delivered on behalf of Investor, if applicable, is duly
organized and validly existing in good standing under the laws of the jurisdiction of its organization. Such IRA has full power
and authority to own, operate and occupy its properties and to conduct its business as presently conducted and is registered or
qualified to do business and in good standing in each jurisdiction in which it owns or leases property or transacts business and
where the failure to be so qualified would have a material adverse effect on the financial condition of Investor or such IRA.

 

4.2.          Non-Contravention.
The execution and delivery of this Agreement, the purchase of the Shares and the Warrant under this Agreement, the fulfillment
of the terms of this Agreement and the consummation of the transactions contemplated hereby will not (i) conflict with or constitute
a violation of, or default (with or without the giving of notice or the passage of time or both) under, (A) any material bond,
debenture, note or other evidence of indebtedness, or under any material lease, indenture, mortgage, deed of trust, loan agreement,
joint venture or other agreement or instrument to which Investor is a party, (B) the charter, by-laws or other organizational documents
of Investor, as applicable, or (C) any law, administrative regulation, ordinance or order of any court or governmental agency,
arbitration panel or authority applicable to Investor or his/its property, or (ii) result in the creation or imposition of any
lien, encumbrance, claim, security interest or restriction whatsoever upon any of the material properties or assets of Investor
or an acceleration of indebtedness pursuant to any obligation, agreement or condition contained in any material bond, debenture,
note or any other evidence of indebtedness or any material indenture, mortgage, deed of trust or any other agreement or instrument
to which Investor is a party or by which Investor is bound or to which any of the property or assets of Investor is subject. No
consent, approval, authorization or other order of, or registration, qualification or filing with, any regulatory body, administrative
agency, self-regulatory organization, stock exchange or market, or other governmental body in the United States is required for
the execution and delivery of this Agreement and the purchase of the Shares and the Warrant by Investor, other than such as have
been made or obtained.

 

4.3.          Private
Placement. Investor represents and warrants to, and covenants with, the Company that Investor is acquiring the Shares and the
Warrant for his/its own account for investment only and with no present intention of distributing any of the Shares, the Warrant,
or the Warrant Shares in violation of the applicable securities laws, or pursuant to any arrangement or understanding with any
other persons regarding the distribution of the Shares, the Warrant, or the Warrant Shares. Investor has been advised and understands
that none of the Shares, the Warrant, or the Warrant Shares have been registered under the Securities Act or under the “blue
sky” or similar laws of any jurisdiction and that they may be resold only if registered pursuant to the provisions of the
Securities Act and such other laws, if applicable, or, subject to the terms and conditions of this Agreement, if an exemption from
registration is available. Investor has been advised and understands that the Company, in issuing the Shares and the Warrant, is
relying upon, among other things, the representations and warranties of Investor herein in concluding that such issuance is a “private
offering” and is exempt from the registration provisions of the Securities Act.

 

    	5

    	 

    

  

4.4.          Certain
Trading Activities. Neither Investor nor any of his/its affiliates has directly or indirectly, nor has any person acting on
behalf of or pursuant to any understanding with Investor, engaged in any purchase or sale of Common Stock (including, without limitation,
any Short Sales (as defined below) involving the Company’s securities) since the date that Investor first became aware of
the transactions contemplated hereby. For the purposes of this Section 4.4, “Short Sales” include, without
limitation, all “short sales” as defined in Rule 200 of Regulation SHO adopted under the Exchange Act and all types
of direct and indirect stock pledges, forward sales contracts, options, puts, calls, short sales and other transaction through
non-US broker-dealers or foreign regulated brokers having the effect of hedging the securities of the Company or the investment
contemplated under this Agreement. Investor covenants that neither he/it, nor any person acting on his/its behalf or pursuant to
any understanding with him/it, will engage in any transaction in the securities of the Company (including short sales) prior to
the filing of a Current Report on Form 8-K, Annual Report on Form 10-K, press release, or other applicable Exchange Act report
reporting this transaction.

 

4.5.          No
Advice. Investor understands that nothing in this Agreement or any other materials presented to Investor in connection with
the purchase and sale of the Shares and the Warrant constitutes legal, tax or investment advice. Investor has consulted such legal,
tax and investment advisors as he/it, in his/its sole discretion, has deemed necessary or appropriate in connection with his/its
purchase of the Shares and the Warrant.

 

4.6.          Accredited
Investor; Big Boy. Investor is an “accredited investor” as that term is defined in Rule 501(a) of Regulation D
under the Securities Act and is able to bear the risk of his/its investment in the Shares, the Warrant, and the Warrant Shares.
Investor has such knowledge and experience in financial and business matters that he/it is capable of evaluating the merits and
risks of the purchase of the Shares, the Warrant, and the Warrant Shares. Investor acknowledges that he/it does not have any material
non-public information relating to the Company. Investor further acknowledges that the Company and its agents, officers, directors
and affiliates possess material non-public information not known to Investor regarding or relating to the Company and/or the securities
being offered hereby, including, but not limited to, information concerning the business, financial condition, results of operations,
legal matters associated with ongoing or past litigation matters, investigations, the Company’s corporate transition matters
(including transactions related to the corporate transition matters and amounts that become payable by the Company), prospects
and other plans of the Company. Investor acknowledges that any material non-public information may be indicative of a value of
the securities being offered hereby that is substantially less than the purchase price paid by Investor, or may be otherwise adverse
to Investor, and such material non-public information, if known to Investor, could be material to Investor’s decision to
acquire the securities being offered hereby. Accordingly, Investor understands and accepts that there is an information disparity
between Investor and the Company, confirms that the Company is not obligated to disclose, and consistent with Investor’s
instructions, has not disclosed, material non-public information to Investor, and acknowledges and agrees that the Company has
no liability arising from such non-disclosure. Investor acknowledges that neither the Company nor any of its agents, officers,
directors, or affiliates has delivered any information or made any representations to Investor, except as expressly set forth herein.

 

    	6

    	 

    

  

4.7.          Limited
Representations. Investor and his/its advisors, if any, have been furnished with all materials relating to the business, finances
and operations of the Company and its Subsidiaries and all materials relating to the offer and sale of the Shares, the Warrant,
and the Warrant Shares, in each case that have been requested by Investor. Investor and his/its advisors, if any, have been afforded
the opportunity to ask such questions of the Company as they deem appropriate for purposes of the investment contemplated hereby.
Investor acknowledges and agrees that the most recent disclosure of the Company’s results is for the three month period ended
on, and the most recent disclosure of the Company’s financial condition is at, March 31, 2014, as reported on the Company’s
Quarterly Report on Form 10-Q, filed with the Commission on May 12, 2014, and that, except as disclosed in the SEC Documents, no
information more recent than such date has been provided to or requested by Investor as to the Company’s results, operations,
financial condition, business or prospects. Investor understands that his/its purchase of the Shares, the Warrant, and, if applicable,
the Warrant Shares involves a high degree of risk and that Investor may lose his/its entire investment in the Shares, the Warrant,
and, if applicable, the Warrant Shares, and Investor further acknowledges and agrees that he/it can afford to do so without material
adverse consequences to his/its financial condition. Investor is not relying on, and does not have, any information provided by
the Company and its Subsidiaries, except to the extent provided in Section 3 herein.

 

4.8.          No
Recommendation. Investor understands that no United States federal or state agency or any other government or governmental
agency has passed on or made any recommendation or endorsement of the Shares, the Warrant, or the Warrant Shares or the fairness
or suitability of an investment in the Shares, the Warrant, or the Warrant Shares nor have such authorities passed upon or endorsed
the merits thereof.

 

4.9.          Restrictive
Legend. The Company shall issue the Warrant and certificates for the Shares and, if applicable, the Warrant Shares to Investor
with the legends described in Section 6 below. Investor covenants that, in connection with any transfer of any Shares or
Warrant Shares pursuant to the registration statement contemplated by Section 5 hereof, as applicable, including the prospectuses
contained therein, Investor will comply with the applicable prospectus delivery requirements of the Securities Act, provided that
copies of a current prospectus relating to such effective registration statement are available to Investor.

 

4.10.        Residence.
Investor is a resident of, or is organized under the laws of, the jurisdiction set forth on Schedule I attached hereto.

 

4.11.      No
Market. Investor understands that the Shares are and, upon exercise of the Warrant, the Warrant Shares will be restricted securities,
that there is no public trading market for the Warrant and that none is expected to develop, and that the Shares, the Warrant,
and the Warrant Shares must be held indefinitely unless and until the resale of such Shares, Warrant, or Warrant Shares is registered
under the Securities Act or subject to the terms and conditions of this Agreement and the applicable securities laws, an exemption
from registration is available. Investor has been advised or is aware of the provisions of Rule 144 promulgated under the Securities
Act.

 

4.12.        No
Commissions. Investor has taken no action which would give rise to any claim by any person for brokerage commissions, finder’s
fees or similar payments by the Company or Investor relating to this Agreement or the transactions contemplated hereby.

 

4.13.        Transactional
Exemption. Investor understands that the Shares, the Warrant, and the Warrant Shares are being offered and sold in reliance
on a transactional exemption from the registration requirements of federal and state securities laws and that the Company is relying
upon the truth and accuracy of the representations, warranties, agreements, acknowledgments and understandings of Investor set
forth herein in order to determine the applicability of such exemptions and the suitability of Investor to acquire the Shares,
the Warrant, and the Warrant Shares.

 

    	7

    	 

    

  

4.14.        Investor
Undertaking. Investor understands that (i) none of the Shares, the Warrant, or the Warrant Shares may be offered for sale,
sold, assigned or transferred unless (A) subsequently registered under the Securities Act, (B) Investor shall have delivered to
the Company (if requested by the Company) an opinion of counsel to Investor, in a form reasonably acceptable to the Company, to
the effect that such Shares, Warrant, or Warrant Shares, as applicable, to be sold, assigned or transferred may be sold, assigned
or transferred pursuant to an exemption from such registration, or (C) Investor provides the Company with reasonable assurance
that such Shares, Warrant, or Warrant Shares, as applicable, can be sold, assigned or transferred pursuant to Rule 144 or Rule
144A promulgated under the Securities Act (or a successor rule thereto) (collectively, “Rule 144”); and
(ii) any sale of the Shares, the Warrant, or the Warrant Shares, as applicable, made in reliance on Rule 144 may be made only in
accordance with the terms of Rule 144, and further, if Rule 144 is not applicable, any resale of such Shares, Warrant, or Warrant
Shares, as applicable, under circumstances in which the seller (or the Person (as defined below) through whom the sale is made)
may be deemed to be an underwriter (as that term is defined in the Securities Act) may require compliance with some other exemption
under the Securities Act or the rules and regulations of the Commission promulgated thereunder.

 

4.15.        Disclosure
of Transactions. On or before 5:30 p.m., New York time, on the fourth (4th) business day following the date of this
Agreement, the Company shall file a Current Report on Form 8-K (or other form permitted under the federal securities law) disclosing
the material terms and conditions of the transactions contemplated by this Agreement, the Warrant and the Concurrent Financing,
in compliance with the requirements of Form 8-K (or such other form).

 

5.           Registration
Rights.

 

5.1.          Certain
Definitions.

 

“Holder”
and “Holders” shall include Investor and any transferee or transferees of Registrable Securities to whom
the registration rights conferred by this Agreement have been transferred in compliance with this Agreement.

 

The terms “register,”
“registered” and “registration” shall refer to a registration effected by preparing
and filing a registration statement in compliance with the Securities Act and applicable rules and regulations thereunder, and
the declaration or ordering of the effectiveness of such registration statement.

 

“Registrable
Securities” shall mean: (i) the Shares and the Warrant Shares issued or issuable to each Holder (A) with respect to the
Warrant Shares, upon exercise of the Warrant, (B) upon any distribution with respect to, any exchange for or any replacement of
such Shares or Warrant, or (C) upon any conversion, exercise or exchange of any securities issued in connection with any such distribution,
exchange or replacement; (ii) securities issued or issuable upon any stock split, stock dividend, recapitalization or similar event
with respect to the foregoing; and (iii) any other security issued as a dividend or other distribution with respect to, in exchange
for or in replacement of the securities referred to in the preceding clauses, except that any such Shares, Warrant Shares or other
securities shall cease to be Registrable Securities when (Y) they have been sold to the public or (Z) they may be sold by the Holder
thereof without restriction pursuant to Rule 144.

 

    	8

    	 

    

  

“Registration
Expenses” shall mean all expenses to be incurred by the Company in connection with each Holder’s registration
rights under this Agreement, including, without limitation, all registration and filing fees, printing expenses, fees and disbursements
of counsel for the Company, and blue sky fees and expenses, reasonable fees and disbursements of counsel to Holders (using a single
counsel selected by a majority in interest of the Holders) (provided that the amount of any reimbursement of the reasonable fees
and disbursements of counsel to Holders shall not exceed $5,000 in the aggregate or, if the Registration Expenses relate to a registration
statement other than on Form S-3, $7,500 in the aggregate) for a review of the Registration Statement (as defined below) and related
documents, and the expense of any special audits incident to or required by any such registration (but excluding the compensation
of regular employees of the Company, which shall be paid in any event by the Company).

 

“Selling Expenses”
shall mean all underwriting discounts, selling commissions and transfer taxes applicable to the sale of Registrable Securities
and all fees and disbursements of counsel for Holders not included within “Registration Expenses.”

 

5.2.         Registration
Requirements. The Company shall use its reasonable best efforts to effect the registration of the resale of the Registrable
Securities (including, without limitation, the execution of an undertaking to file post-effective amendments, appropriate qualification
under applicable blue sky or other state securities laws and appropriate compliance with applicable regulations issued under the
Securities Act) as would permit or facilitate the resale of all the Registrable Securities in the manner (including manner of sale)
and in all states reasonably requested by the Holder. Such reasonable best efforts by the Company shall include, without limitation,
the following:

 

(a)          The
Company shall, as expeditiously as possible:

 

(i)          But
in any event within 75 days of the Closing, prepare and file a registration statement with the Commission pursuant to Rule 415
under the Securities Act on Form S-3 under the Securities Act (or in the event that the Company is ineligible to use such form,
such other form as the Company is eligible to use under the Securities Act provided that such other form shall be converted into
a Form S-3 promptly after Form S-3 becomes available to the Company) covering resales by the Holders as selling stockholders (not
underwriters) of the Shares and the Warrant Shares issuable upon full exercise of the Warrant (the “Registration Statement”).
The Company shall use its reasonable best efforts to cause such Registration Statement and other filings to be declared effective
as soon as possible, and in any event prior to 135 days (or, if the Commission elects to review the Registration Statement, 195
days) following the Closing. The Company, in its sole discretion, may elect to include for offer and sale securities in addition
to the Registrable Securities in the Registration Statement. By 5:30 p.m. (New York time) on the business day immediately following
the effective date of the Registration Statement, the Company shall file with the Commission in accordance with Rule 424(b) under
the Securities Act the final prospectus to be used in connection with sales pursuant to the Registration Statement (whether or
not such a prospectus is technically required by such rule).

 

(ii)         Without
limiting the foregoing, the Company will promptly respond to all Commission comments, inquiries and requests, and shall request
acceleration of effectiveness of the Registration Statement at the earliest possible date. The Company shall provide the Holders
reasonable opportunity to review the portions of any such Registration Statement or amendment or supplement thereto containing
disclosure regarding the Holders prior to filing.

 

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(iii)        Prepare
and file with the Commission such amendments and supplements to such Registration Statement and the prospectus used in connection
with such Registration Statement as may be necessary to comply with the provisions of the Securities Act with respect to the disposition
of all securities covered by such Registration Statement and notify the Holders of the filing and effectiveness of such Registration
Statement and any amendments or supplements.

 

(iv)        Furnish
or otherwise make available to each Holder copies of a current prospectus included in the Registration Statement conforming with
the requirements of the Securities Act, copies of the Registration Statement, any amendment or supplement thereto and any documents
incorporated by reference therein and such other documents as such Holder may reasonably require in order to facilitate the disposition
of Registrable Securities owned by such Holder.

 

(v)         Register
and qualify the securities covered by the Registration Statement under the securities or “blue sky” laws of all domestic
jurisdictions, to the extent required; provided that the Company shall not be required in connection therewith or as a condition
thereto to qualify to do business or to file a general consent to service of process in any such states or jurisdictions.

 

(vi)        Notify
each Holder immediately of the happening of any event (but not the substance or details of any such event unless specifically requested
by a Holder) as a result of which the prospectus (including any supplements thereto or thereof) included in such Registration Statement,
as then in effect, includes an untrue statement of material fact or omits to state a material fact required to be stated therein
or necessary to make the statements therein not misleading in light of the circumstances then existing, and use its reasonable
best efforts to promptly update and/or correct such prospectus.

 

(vii)       Notify
each Holder immediately of the issuance by the Commission or any state securities commission or agency of any stop order suspending
the effectiveness of the Registration Statement or the threat or initiation of any proceedings for that purpose. The Company shall
use its reasonable best efforts to prevent the issuance of any stop order and, if any stop order is issued, to obtain the lifting
thereof at the earliest possible time.

 

(viii)      Upon
request, permit counsel to the Holders to review the Registration Statement and all amendments and supplements thereto within a
reasonable period of time (but not less than two (2) full days on which there is trading on the NASDAQ Global Market (the “Principal
Market”) or such other market or exchange on which the Common Stock is then principally traded) prior to each filing
and will not request acceleration of the Registration Statement without prior notice to such counsel; provided, however,
that the Company shall not be obligated to comply with this Section 5.2(a)(viii) if compliance would cause the Company to
fail to comply with any other provisions hereunder.

 

(ix)         Qualify
the Registrable Securities covered by such Registration Statement for listing on the Principal Market or the principal securities
exchange and/or market on which the Common Stock is then listed, including the preparation and filing of any required filings with
such principal market or exchange.

 

    	10

    	 

    

  

(b)          In
the event that the Registration Statement has been declared effective by the Commission and, afterwards, any Holder’s ability
to sell Registrable Securities registered for resale under the Registration Statement is suspended for more than (i) 45 days in
any 90 day period or (ii) 90 days in any calendar year, including without limitation by reason of any suspension or stop order
with respect to the Registration Statement or the fact that an event has occurred as a result of which the prospectus (including
any supplements thereto) included in the Registration Statement then in effect includes an untrue statement of material fact or
omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light
of the circumstances then existing, then the Company shall take such action as may be necessary to amend or supplement the Registration
Statement or the prospectus (including any supplements thereto) included in the Registration Statement, such that the Registration
Statement or the prospectus, as so amended, shall not contain an untrue statement of a material fact or omit to state a material
fact required to be stated therein or necessary to make the statements not misleading.

 

(c)          If
the Holder(s) intend to distribute the Registrable Securities by means of an underwriting, the Holder(s) shall so advise the Company.
Any such underwriting may only be administered by nationally or regionally recognized investment bankers reasonably satisfactory
to the Company.

 

(d)          Subject
to Section 5.2(c) above, the Company shall enter into such customary agreements (including an underwriting agreement containing
such representations and warranties by the Company and such other terms and provisions, as are customarily contained in underwriting
agreements for comparable offerings and are reasonably satisfactory to the Company) and take all such other actions as the Holder
or the underwriters participating in such offering and sale may reasonably request in order to expedite or facilitate such offering
and sale other than such actions which are disruptive to the Company or require significant management availability.

 

(e)          The
Company shall make available for inspection by the Holders, representative(s) of all the Holders together, any underwriter participating
in any disposition pursuant to the Registration Statement, and any attorney or accountant retained by any Holder or underwriter,
all financial and other records customary for purposes of the Holders’ due diligence examination of the Company and review
of the Registration Statement, all documents filed with the Commission subsequent to the Closing, pertinent corporate documents
and properties of the Company, and cause the Company’s officers, directors and employees to supply all information reasonably
requested by any such representative, underwriter, attorney or accountant in connection with the Registration Statement, provided
that such parties agree to keep such information confidential. Notwithstanding the foregoing, the foregoing right shall not
extend to any Holder (i) who is not a financial investor or entity or (ii) who, itself or through any affiliate, has any strategic
business interest that would reasonably be expected to be in conflict with any business of the Company or its Subsidiaries.

 

(f)          The
Company may suspend the use of any prospectus used in connection with the Registration Statement only in the event, and for such
period of time as, (i) such a suspension is required by the rules and regulations of the Commission or (ii) it is determined in
good faith by the Board of Directors of the Company that because of valid business reasons (not including the avoidance of the
Company’s obligations hereunder), it is in the best interests of the Company to suspend such use, and prior to suspending
such use in accordance with this clause (f)(ii) the Company provides the Holders with written notice of such suspension, which
notice need not specify the nature of the event giving rise to such suspension. The Company will use reasonable best efforts to
cause such suspension to terminate at the earliest possible date.

 

    	11

    	 

    

  

(g)          The
Company shall prepare and file with the Commission such amendments (including post-effective amendments) and supplements to the
Registration Statement and the prospectus used in connection with the Registration Statement, which prospectus is to be filed pursuant
to Rule 424 promulgated under the Securities Act, as may be necessary to keep the Registration Statement effective at all times
during the Registration Period (as defined below), and, during such period, comply with the provisions of the Securities Act with
respect to the disposition of all Registrable Securities of the Company covered by the Registration Statement. In the case of amendments
and supplements to the Registration Statement which are required to be filed pursuant to this Agreement (including pursuant to
this Section 5.2(g)) by reason of the Company filing a report on Form 10-K, Form 10-Q or Form 8-K or any analogous report
under the Exchange Act, the Company shall have incorporated such report by reference into the Registration Statement, if applicable,
or shall file such amendments or supplements with the Commission on the same day on which the Exchange Act report is filed which
created the requirement for the Company to amend or supplement the Registration Statement.

 

(h)          Each
Holder agrees by his/its acquisition of the Registrable Securities that, upon receipt of a notice from the Company of the occurrence
of any event of the kind described in Sections 5.2(a)(vi) or 5.2(a)(vii), and upon notice of any suspension under
Section 5.2(f), such Holder will forthwith discontinue disposition of such Registrable Securities under the Registration
Statement until such Holder’s receipt of the copies of the supplemented prospectus and/or amendment to the Registration Statement
contemplated by this Section 5.2, or until he/it is advised in writing by the Company that the use of the applicable prospectus
may be resumed, and, in either case, has received copies of any additional or supplemental filings that are incorporated or deemed
to be incorporated by reference in such prospectus or the Registration Statement. The Company may provide appropriate stop orders
to enforce the provisions of this paragraph.

 

(i)          If
requested by a Holder, the Company shall (i) as soon as practicable incorporate in a prospectus supplement or post-effective amendment
such information as a Holder reasonably requests to be included therein relating to the sale and distribution of Registrable Securities,
including, without limitation, information with respect to the number of Registrable Securities being offered or sold, the purchase
price being paid therefor and any other terms of the offering of the Registrable Securities to be sold in such offering, (ii) as
soon as practicable make all required filings of such prospectus supplement or post-effective amendment after being notified of
the matters to be incorporated in such prospectus supplement or post-effective amendment, and (iii) as soon as practicable, supplement
or make amendments to the Registration Statement if reasonably requested by a Holder holding any Registrable Securities.

 

5.3.         Expenses
of Registration. All Registration Expenses in connection with any registration, qualification or compliance with registration
pursuant to this Agreement shall be borne by the Company, and all Selling Expenses of a Holder shall be borne by such Holder.

 

    	12

    	 

    

  

5.4.         Registration
on Form S-3. The Company shall use its reasonable best efforts to remain qualified for registration on Form S-3 or any comparable
or successor form or forms, or in the event that the Company is ineligible to use such form, such form as the Company is eligible
to use under the Securities Act, provided that if such other form is used, the Company shall convert such other form to a Form
S-3 promptly after the Company becomes so eligible, provided that the Company shall maintain the effectiveness of the Registration
Statement then in effect until such time as the Registration Statement covering the Registrable Securities has been declared effective
by the Commission.

 

5.5.         Registration
Period. In the case of the registration effected by the Company pursuant to this Agreement, the Company shall keep such registration
effective from the date on which the Registration Statement initially became effective until the earlier of (i) the date on which
all the Holders have completed the sales or distribution described in the Registration Statement relating to the Registrable Securities
registered for resale thereunder, or (ii) until such Registrable Securities may be sold by the Holders without restriction pursuant
to Rule 144 (or any successor thereto) (provided that the Company’s transfer agent has accepted an instruction from the Company
to such effect) (the “Registration Period”). Thereafter, the Company shall be entitled to withdraw such Registration
Statement and the Holders shall have no further right to offer or sell any of the Registrable Securities registered for resale
thereon pursuant to the Registration Statement (or any prospectus relating thereto).

 

5.6.         Indemnification.

 

(a)          Company
Indemnity. The Company will indemnify and hold harmless each Holder, each of its officers, directors, agents and partners,
and each person controlling each of the foregoing, within the meaning of Section 15 of the Securities Act and the rules and regulations
thereunder with respect to which registration, qualification or compliance has been effected pursuant to this Agreement, and each
underwriter, if any, and each person who controls, within the meaning of Section 15 of the Securities Act and the rules and regulations
thereunder, any underwriter, against all claims, losses, damages and liabilities (or actions in respect thereof) arising out of
or based on any material breach of this Agreement (including any representation herein) or any untrue statement (or alleged untrue
statement) of a material fact contained in any prospectus, offering circular or other document (including any related registration
statement, notification or the like) incident to any such registration, qualification or compliance, or based on any omission (or
alleged omission) to state therein a material fact required to be stated therein or necessary to make the statements therein not
misleading in light of the circumstances under which they were made, or any violation by the Company of the Securities Act or any
state securities law or in either case, any rule or regulation thereunder applicable to the Company and relating to action or inaction
required of the Company in connection with any such registration, qualification or compliance, and will reimburse each Holder,
each of its officers, directors, agents and partners, and each person controlling each of the foregoing, each such underwriter
and each person who controls any such underwriter, for any legal and any other expenses reasonably incurred in connection with
investigating and defending any such claim, loss, damage, liability or action, provided that the Company will not be liable
in any such case to a Holder to the extent that any such claim, loss, damage, liability or expense arises out of or is based (i)
on any untrue statement or omission based upon written information furnished to the Company by a Holder or the underwriter (if
any) therefor, (ii) the failure of a Holder to deliver at or prior to the written confirmation of sale, the most recent prospectus,
as amended or supplemented, or (iii) the failure of a Holder otherwise to comply with this Agreement. The indemnity agreement contained
in this Section 5.6(a) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action
if such settlement is effected without the consent of the Company (which consent will not be unreasonably withheld).

 

    	13

    	 

    

  

(b)          Holder
Indemnity. Each Holder will, severally and not jointly, if Registrable Securities held by him/it are included in the securities
as to which such registration, qualification or compliance is being effected, indemnify and hold harmless the Company, each of
its directors, officers, agents and partners, and each underwriter, if any, of the Company’s securities covered by such a
registration statement, each person who controls the Company or such underwriter within the meaning of Section 15 of the Securities
Act and the rules and regulations thereunder, each other Holder (if any), and each of their officers, directors and partners, and
each person controlling such other Holder(s) against all claims, losses, damages and liabilities (or actions in respect thereof)
arising out of or based on any material breach of this Agreement by Holder (including any representation herein) or any untrue
statement (or alleged untrue statement) of a material fact contained in any such registration statement, prospectus, offering circular
or other document, or any omission (or alleged omission) to state therein a material fact required to be stated therein or necessary
to make a statement therein not misleading in light of the circumstances under which it was made, and will reimburse the Company
and such other Holder(s) and their directors, officers and partners, underwriters or control persons for any legal or any other
expenses reasonably incurred in connection with investigating and defending any such claim, loss, damage, liability or action,
in each case to the extent, but only to the extent, that such untrue statement (or alleged untrue statement) or omission (or alleged
omission) is made in such registration statement, prospectus, offering circular or other document in reliance upon and in conformity
with written information furnished to the Company by such Holder and stated to be specifically for use therein, and provided
that the maximum amount for which such Holder shall be liable under this indemnity shall not exceed the net proceeds received
by such Holder from the sale of the Registrable Securities pursuant to the registration statement in question. The indemnity agreement
contained in this Section 5.6(b) shall not apply to amounts paid in settlement of any such claims, losses, damages or liabilities
if such settlement is effected without the consent of such Holder (which consent shall not be unreasonably withheld).

 

(c)          Procedure.
Each party entitled to indemnification under this Section 5.6 (the “Indemnified Party”) shall give notice
to the party required to provide indemnification (the “Indemnifying Party”) promptly after such Indemnified
Party has actual knowledge of any claim as to which indemnity may be sought, and shall permit the Indemnifying Party to assume
the defense of any such claim in any litigation resulting therefrom, provided that counsel for the Indemnifying Party, who
shall conduct the defense of such claim or any litigation resulting therefrom, shall be approved by the Indemnified Party (whose
approval shall not be unreasonably withheld), and the Indemnified Party may participate in such defense at its own expense, and
provided further that the failure of any Indemnified Party to give notice as provided herein shall not relieve the Indemnifying
Party of its obligations under this Section 5.6 except to the extent that the Indemnifying Party is materially and adversely
affected by such failure to provide notice. No Indemnifying Party, in the defense of any such claim or litigation, shall, except
with the consent of each Indemnified Party, consent to entry of any judgment or enter into any settlement which does not include
as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release from all liability
in respect to such claim or litigation. Each Indemnified Party shall furnish such non-privileged information regarding itself or
the claim in question as an Indemnifying Party may reasonably request in writing and as shall be reasonably required in connection
with the defense of such claim and litigation resulting therefrom.

 

    	14

    	 

    

  

5.7.         Contribution.
If the indemnification provided for in Section 5.6 herein is unavailable to the Indemnified Parties in respect of any losses,
claims, damages or liabilities referred to herein (other than by reason of the exceptions provided therein), then each such Indemnifying
Party, in lieu of indemnifying such Indemnified Party, shall contribute to the amount paid or payable by such Indemnified Party
as a result of such losses, claims, damages or liabilities as between the Company, on the one hand, and any Holder, on the other,
in such proportion as is appropriate to reflect the relative fault of the Company and of such Holder in connection with the statements
or omissions which resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations.
The relative fault of the Company, on the one hand, and of any Holder, on the other, shall be determined by reference to, among
other things, whether the untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material
fact relates to information supplied by the Company or by such Holder.

 

In no event shall the
obligation of any Indemnifying Party to contribute under this Section 5.7 exceed the amount that such Indemnifying Party
would have been obligated to pay by way of indemnification if the indemnification provided for under Sections 5.6(a) or
5.6(b) hereof had been available under the circumstances.

 

The Company and the
Holders agree that it would not be just and equitable if contribution pursuant to this Section 5.7 were determined by pro
rata allocation (even if the Holders or the underwriters were treated as one entity for such purpose) or by any other method of
allocation which does not take account of the equitable considerations referred to in the immediately preceding paragraphs. The
amount paid or payable by an Indemnified Party as a result of the losses, claims, damages and liabilities referred to in the immediately
preceding paragraphs shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably
incurred by such Indemnified Party in connection with investigating or defending any such action or claim. Notwithstanding the
provisions of this section, no Holder or underwriter shall be required to contribute any amount in excess of: (i) in the case of
any Holder, the net proceeds received by such Holder from the sale of Registrable Securities pursuant to the registration statement
in question, or (ii) in the case of an underwriter, the amount by which the total price at which the Registrable Securities purchased
by it and distributed to the public were offered to the public exceeds, in any such case, the amount of any damages that such underwriter
has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person
guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution
from any person who was not guilty of such fraudulent misrepresentation.

 

5.8.         Survival.
The indemnity and contribution agreements contained in Sections 5.6 and 5.7 and the representations and warranties
of the Company referred to in Section 5.2(d) shall remain operative and in full force and effect regardless of (i) any termination
of this Agreement or any underwriting agreement, (ii) any investigation made by or on behalf of any Indemnified Party or by or
on behalf of the Company, and (iii) the consummation of the sale or successive resales of the Registrable Securities.

 

    	15

    	 

    

  

5.9.         Information
by Holders. Each Holder shall promptly furnish to the Company such information regarding such Holder and the distribution and/or
sale proposed by such Holder as the Company may from time to time reasonably request in writing in connection with any registration,
qualification or compliance referred to in this Agreement, and the Company may exclude from such registration the Registrable Securities
of any Holder who unreasonably fails to furnish such information within a reasonable time after receiving such request. The intended
method or methods of disposition and/or sale of such securities as so provided by such purchaser shall be included without alteration
in the Registration Statement covering the Registrable Securities and shall not be changed without written consent of such Holder.
Each Holder agrees that, other than ordinary course brokerage arrangements, in the event he/it enters into any arrangement with
a broker dealer for the sale of any Registrable Securities through a block trade, special offering, exchange distribution or secondary
distribution or a purchase by a broker or dealer, such Holder shall promptly deliver to the Company in writing all applicable information
required in order for the Company to be able to timely file a supplement to the prospectus pursuant to Rule 424(b), or take any
other action, under the Securities Act, to the extent that such supplement or other action is legally required. Such information
shall include a description of (i) the name of such Holder and of the participating broker dealer(s), (ii) the number of Registrable
Securities involved, (iii) the price at which such Registrable Securities were or are to be sold, and (iv) the commissions paid
or to be paid or discounts or concessions allowed or to be allowed to such broker dealer(s), where applicable.

 

6.           Stock
Legend. Upon payment therefor as provided in this Agreement, the Company will issue the Shares and the Warrant Shares in the
name of Investor.

 

Any certificate representing
the Shares shall be stamped or otherwise imprinted with a legend in substantially the following form:

 

THESE SECURITIES
HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION AND MAY NOT BE OFFERED, SOLD, ASSIGNED, PLEDGED, TRANSFERRED
OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”), OR PURSUANT TO AN AVAILABLE EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT, AND AFTER RECEIPT
BY THE COMPANY OF AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES
ACT OR THAT THE PROSPECTUS DELIVERY REQUIREMENTS HAVE BEEN MET.

 

Any certificate representing
the Warrant Shares issued by the Company shall also be stamped or otherwise imprinted with a legend in substantially the following
form:

 

THE SECURITIES
REPRESENTED HEREBY ARE SUBJECT TO THE RIGHTS AND OBLIGATIONS SET FORTH IN A SECURITIES PURCHASE AND REGISTRATION RIGHTS AGREEMENT,
DATED AS OF AUGUST 8, 2014, BY AND BETWEEN ROCK CREEK PHARMACEUTICALS, INC. AND THE INVESTOR PARTY THERETO AS SUCH MAY BE AMENDED
FROM TIME TO TIME.

 

The Warrant shall be
imprinted with the legends set forth in the form of Warrant attached hereto as Exhibit A.

  

    	16

    	 

    

  

The Company agrees to
issue the Shares and the Warrant Shares issued upon exercise of the Warrant without the legends set forth above at such time as
the Holder thereof is (i) permitted to transfer such Shares or Warrant Shares, as applicable, without restriction pursuant to Rule
144 under the Securities Act, and upon such transfer or (ii) at such time such securities have been registered for resale under
the Securities Act, upon such resale, and subject to the undertakings in Section 4.14 hereof by Investor.

 

7.           Survival
of Representations, Warranties and Agreements. Notwithstanding any investigation made by any party to this Agreement, all covenants,
agreements, representations and warranties made by the Company and Investor herein shall survive the execution of this Agreement,
the delivery to Investor of the Shares and the Warrant being purchased, and the payment therefor.

 

8.           Notices.
All notices, requests, consents and other communications hereunder shall be in writing, shall be mailed (i) if within the domestic
United States, by first-class registered or certified mail, or nationally recognized overnight express courier, postage prepaid,
or by facsimile, or (ii) if delivered from outside the United States, by International Federal Express or facsimile, and shall
be deemed given (A) if delivered by first-class registered or certified mail domestic, three business days after so mailed, (B)
if delivered by nationally recognized overnight carrier, one business day after so mailed, (C) if delivered by International Federal
Express, two business days after so mailed, and (D) if delivered by facsimile, upon electric confirmation of receipt and shall
be delivered as addressed as follows:

 

(a)       if
to the Company, to:

 

Rock Creek Pharmaceuticals, Inc.

2040 Whitfield Avenue, Suite 300

Sarasota, Florida 34243

Telephone: (804) 527-1970

Facsimile: (804) 527-1976

Attention: Chief Financial Officer

 

with copies to:

 

Foley & Lardner LLP

Attn: Curt P. Creely, Esq.

100 N. Tampa Street, Suite 2700

Tampa, Florida 33602

Telephone: (813) 225-4122

Facsimile: (813) 221-4210

 

(b)       if
to Investor, at his/its address set forth on Schedule I attached hereto, or at such other address or addresses as may have
been furnished to the Company in writing.

 

9.           Changes.
This Agreement may not be modified or amended except pursuant to an instrument in writing signed by the Company and Investor.

  

    	17

    	 

    

  

10.         Headings.
The headings of the various sections of this Agreement have been inserted for convenience of reference only and shall not be deemed
to be part of this Agreement.

 

11.         Severability.
In the event that any provision contained in this Agreement is found to be invalid, illegal or unenforceable in any respect, the
validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired
thereby.

 

12.         Governing
Law. This Agreement shall be governed by, and construed in accordance with, the internal laws of the State of New York, without
giving effect to the principles of conflicts of law.

 

13.         Entire
Agreement. This Agreement constitutes the entire agreement between the parties hereto pertaining to the subject matter hereof,
and any and all other written or oral agreements relating to such subject matter are expressly cancelled.

 

14.         Finders
Fees. Neither the Company nor Investor nor any affiliate thereof has incurred any obligation which will result in the obligation
of the other party to pay any finder’s fee or commission in connection with this transaction.

 

15.         Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall constitute an original, but all of which, when
taken together, shall constitute one instrument, and shall become effective when one or more counterparts have been signed by each
party hereto and delivered to the other parties.

 

16.         Successors
and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and permitted assigns of the Company
and Investor. Investor shall not assign any rights or obligations under this Agreement other than, solely with respect to any Shares,
Warrant, or Warrant Shares transferred in accordance with this Agreement, including the legends described herein, to any permitted
transferee of such Shares, Warrant, or Warrant Shares, provided, however, that no such assignment shall relieve Investor
of his/its obligations under this Agreement.

 

17.         Expenses.
Each of the Company and Investor shall bear its/his own expenses in connection with the preparation and negotiation of this Agreement.

 

18.         Pronouns.
All pronouns or any variations thereof shall be deemed to refer to the masculine, feminine or neuter, singular or plural, as the
identity of the person, persons, entity or entities may require.

 

19.         Press
Release. The Company shall not use Investor’s name in any press release issued by the Company related to this Agreement
or the transactions contemplated hereby without the consent of Investor.

 

[Signature pages follow]

 

    	18

    	 

    

 

IN WITNESS WHEREOF, the
parties hereto have caused this Agreement to be duly executed as of the date first above written.

 

	 	ROCK CREEK PHARMACEUTICALS, INC.
	 	 	 
	 	By:	 
	 	Name:  Michael J. Mullan
	 	Title:  Chairman and Chief Executive Officer

 

Signature Page to Securities Purchase
and Registration Rights Agreement

  

    	 

    	 

    

 

IN WITNESS WHEREOF, the
parties hereto have caused this Agreement to be duly executed as of the date first above written.

 

	 	[______________________________]
	 	 	 
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

Signature Page to Securities Purchase
and Registration Rights Agreement

 

    	 

    	 

    

 

Schedule 3.6

 

Concurrent Financing

 

The Concurrent Financing
is comprised of the various financing transactions effected pursuant to various financing-related agreements, all executed on August
8, 2014, among the Company and various investors and lenders.

 

    	 

    	 

    

 

Schedule I 

 

	Name and Address	 	Shares	 	Warrant

Shares	 	Purchase Price

Per Unit	 	Aggregate

Purchase

Price
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Total:	 	 	 	 	 	 	 	 

 

    	 

    	 

    

 

Exhibit A

 

Form of Common Stock
Purchase Warrant

 

THIS WARRANT AND THE SECURITIES REPRESENTED
BY THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY
NOT BE OFFERED, SOLD, ASSIGNED, PLEDGED, TRANSFERRED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT, AND UPON DELIVERY OF
AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT THE PROPOSED TRANSFER IS EXEMPT FROM THE SECURITIES ACT OR THAT THE PROSPECTUS
DELIVERY REQUIREMENTS HAVE BEEN MET.

 

COMMON STOCK PURCHASE WARRANT

 

To purchase
shares of common stock, $0.0001 par value, of

 

Rock Creek Pharmaceuticals, Inc.

 

THIS COMMON STOCK PURCHASE
WARRANT (the “Warrant”) certifies that, for value received, ______________________ (the “Holder”)
is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on
or after the date hereof (the “Initial Exercise Date”) and on or prior to the close of business on August 8,
2021 (the “Termination Date”) but not thereafter (the “Exercise Period”), to subscribe for
and purchase from Rock Creek Pharmaceuticals, Inc., a Delaware corporation (the “Company”), up to __________
shares (the “Warrant Shares”) of common stock, par value $0.0001 per share, of the Company (the “Common
Stock”). The purchase price of one share of Common Stock (the “Exercise Price”) under this Warrant
shall be $1.00, subject to adjustment hereunder. The Exercise Price and the number of Warrant Shares for which the Warrant is exercisable
shall be subject to adjustment as provided herein. The term “Holder” shall refer to the Holder identified above or
any subsequent transferee of this Warrant.

 

1.          Authorization
of Warrant Shares. The Company represents and warrants that all Warrant Shares which may be issued upon the exercise of the
purchase rights represented by this Warrant will, upon exercise of the purchase rights represented by this Warrant, be duly authorized,
validly issued, fully paid and nonassessable.

 

    	1

    	 

    

  

2.          Exercise
of Warrant.

 

(a)          Except
as provided in Section 3 herein, exercise of the purchase rights represented by this Warrant may be made at any time or times on
or after the Initial Exercise Date and on or prior to the close of business on the Termination Date by (i) surrendering this Warrant,
with the Notice of Exercise Form attached hereto completed and duly executed, to the offices of the Company (or such other office
or agency (including the transfer agent, if applicable) of the Company as it may designate by notice in writing to the registered
Holder at the address of such Holder appearing on the books of the Company) and (ii) delivering to the Company payment of the Exercise
Price of the shares thereby purchased by wire transfer of immediately available funds or cashier’s check drawn on a United
States bank. The Holder exercising his, her or its purchase rights in accordance with the preceding sentence shall be entitled
to receive a certificate for the number of Warrant Shares so purchased, which certificate will bear a legend substantially similar
to the legend set forth on this Warrant. Certificates for shares purchased hereunder shall be issued and delivered to the Holder
within five (5) Trading Days (as defined below) after the date on which this Warrant shall have been exercised as aforesaid.
This Warrant shall be deemed to have been exercised and such certificate or certificates shall be deemed to have been issued, and
the Holder shall be deemed to no longer hold this Warrant with respect to such shares and to have become a holder of record of
such shares for all purposes, in each case as of the date the Warrant has been exercised by payment to the Company of the Exercise
Price for such shares and all taxes required to be paid by the Holder, if any, pursuant to Section 4 prior to the issuance of such
shares, have been paid.

 

(b)          In
the event that the Warrant is not exercised in full, the number of Warrant Shares shall be reduced by the number of such Warrant
Shares for which this Warrant is exercised and/or surrendered, and the Company, if requested by the Holder and at his, her or its
expense, shall within ten (10) Trading Days issue and deliver to the Holder a new Warrant of like tenor in the name of the Holder
or as the Holder (upon payment by the Holder of any applicable transfer taxes) may request, reflecting such adjusted Warrant Shares.

 

“Trading
Day” shall mean a day on which there is trading on the Principal Market or such other market or exchange on which
the Common Stock is then principally traded.

 

“Principal
Market” means the Nasdaq Global Market.

 

3.          No
Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise
of this Warrant. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such exercise, the
Company shall pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the Exercise
Price.

 

4.          Charges,
Taxes and Expenses. Issuance of certificates for Warrant Shares shall be made without charge to the Holder for any issue tax
or other incidental expense in respect of the issuance of such certificate, all of which taxes and expenses shall be paid by the
Company, and such certificates shall be issued in the name of the Holder; provided, however, that the Holder shall
pay any applicable transfer taxes.

 

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

 

    	2

    	 

    

  

6.          Division
and Combination.

 

(a)          This
Warrant may be divided or combined with other Warrants upon presentation hereof (and thereof, as applicable) at the aforesaid office
of the Company, together with a written notice specifying the denominations in which new Warrants are to be issued, signed by the
Holder or his agent or attorney. The Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or
Warrants to be divided or combined in accordance with such notice.

 

(b)          The
Company shall prepare, issue and deliver at its own expense (other than transfer taxes) the new Warrant or Warrants under this
Section 6.

 

7.          No
Rights as Stockholder until Exercise. This Warrant does not entitle the Holder to any voting rights or other rights as a stockholder
of the Company prior to the exercise hereof. Upon the surrender of this Warrant and the payment of the aggregate Exercise Price,
the Warrant Shares so purchased shall be and be deemed to be issued to such Holder as the record owner of such shares as of the
close of business on the later of the date of such surrender or payment, and this Warrant shall no longer be issuable with respect
to such Warrant Shares.

 

8.          Loss,
Theft, Destruction or Mutilation of Warrant. The Company covenants that, upon receipt by the Company of evidence reasonably
satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant
Shares, and in the case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it, and upon surrender
and cancellation of such Warrant or stock certificate, if mutilated, the Company will make and deliver a new Warrant or stock certificate
of like tenor and dated as of such cancellation, in lieu of such Warrant or stock certificate.

 

9.          Saturdays,
Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required or
granted herein shall be a Saturday, Sunday or legal holiday, then such action may be taken or such right may be exercised on the
next succeeding day not a Saturday, Sunday or legal holiday.

 

10.        Adjustments
of Exercise Price and Number of Warrant Shares. The number and kind of securities purchasable upon the exercise of this Warrant
and the Exercise Price shall be subject to adjustment from time to time upon the happening of any of the following. If the Company
shall (i) pay a dividend in shares of Common Stock or make a distribution in shares of Common Stock to holders of its outstanding
Common Stock, (ii) subdivide its outstanding shares of Common Stock into a greater number of shares, (iii) combine its outstanding
shares of Common Stock into a smaller number of shares of Common Stock, or (iv) issue any shares of its capital stock in a reclassification
of the Common Stock, then the number of Warrant Shares purchasable upon exercise of this Warrant immediately prior thereto shall
be adjusted so that the Holder shall be entitled to receive the kind and number of Warrant Shares or other securities of the Company
which he would have owned or have been entitled to receive had such Warrant been exercised in advance thereof. Upon each such adjustment
of the kind and number of Warrant Shares or other securities of the Company which are purchasable hereunder, the Holder shall thereafter
be entitled to purchase the number of Warrant Shares or other securities resulting from such adjustment at an Exercise Price per
Warrant Share or other security obtained by multiplying the Exercise Price in effect immediately prior to such adjustment by the
number of Warrant Shares purchasable pursuant hereto immediately prior to such adjustment and dividing by the number of Warrant
Shares or other securities of the Company purchasable pursuant hereto as a result of such adjustment. An adjustment made pursuant
to this paragraph shall become effective immediately after the effective date of such event retroactive to the record date, if
any, for such event.

 

    	3

    	 

    

  

11.         Reorganization,
Reclassification, Merger, Consolidation or Disposition of Assets. If, at any time while this Warrant is outstanding (i) the
Company effects any merger or consolidation of the Company with or into another individual or corporation, partnership, trust,
incorporated or unincorporated association, joint venture, limited liability company, joint stock company or other entity of any
kind (each a “Person”), in which the Company is not the survivor and the stockholders of the Company immediately
prior to such merger or consolidation do not own, directly or indirectly, at least fifty percent (50%) of the voting securities
of the surviving entity, (ii) the Company effects any sale of all or substantially all of its assets or a majority of its Common
Stock is acquired by a third party, in each case, in one or a series of related transactions, (iii) any tender offer or exchange
offer (whether by the Company or another Person) is completed pursuant to which all or substantially all of the holders of Common
Stock are permitted to tender or exchange their shares for other securities, cash or property, or (iv) the Company effects any
reclassification of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted
into or exchanged for other securities, cash or property (other than as a result of a subdivision or combination of shares of Common
Stock covered by Section 10 above) (in any such case, a “Fundamental Transaction”), then the Holder shall
have the right thereafter to receive, upon exercise of this Warrant, the same amount and kind of securities, cash or property as
it would have been entitled to receive upon the occurrence of such Fundamental Transaction if it had been, immediately prior to
such Fundamental Transaction, the holder of the number of Warrant Shares then issuable upon exercise in full of this Warrant without
regard to any limitations on exercise contained herein (the “Alternate Consideration”). The Company shall
not effect any such Fundamental Transaction unless prior to or simultaneously with the consummation thereof, any successor to the
Company, surviving entity or the corporation purchasing or otherwise acquiring such assets or other appropriate corporation or
entity shall assume the obligation to deliver to the Holder, such Alternate Consideration as, in accordance with the foregoing
provisions, the Holder may be entitled to purchase and/or receive (as the case may be), and the other obligations under this Warrant.
The foregoing provisions of this Section 11 shall similarly apply to successive reorganizations, reclassifications, mergers, consolidations,
spin-offs, or dispositions of assets.

 

    	4

    	 

    

  

12.        Notice
of Adjustment. Whenever the number of Warrant Shares or number or kind of securities or other property purchasable upon the
exercise of this Warrant or the Exercise Price is adjusted, as herein provided, the Company shall give notice thereof to the Holder,
which notice shall state the number of Warrant Shares (and other securities or property) purchasable upon the exercise of this
Warrant and the Exercise Price of such Warrant Shares (and other securities or property) after such adjustment, setting forth a
brief statement of the facts requiring such adjustment and setting forth the computation by which such adjustment was made.

 

13.        Notice
of Corporate Action. If at any time:

 

(a)          the
Company shall take a record of the holders of its Common Stock for the purpose of entitling them to receive a dividend or other
distribution, or any right to subscribe for or purchase any evidences of its indebtedness, any shares of stock of any class or
any other securities or property, or to receive any other right, or

 

(b)          there
shall be any capital reorganization of the Company, any reclassification or recapitalization of the capital stock of the Company
or any consolidation or merger of the Company with, or any sale, transfer or other disposition of all or substantially all of the
property, assets or business of the Company to, another corporation, or

 

(c)          there
shall be a voluntary or involuntary dissolution, liquidation or winding up of the Company;

 

then, in any one or more
of such cases, the Company shall give to the Holder (i) at least five business days’ prior written notice of the date on
which a record date shall be selected for such dividend, distribution or right or for determining rights to vote in respect of
any such reorganization, reclassification, merger, consolidation, sale, transfer, disposition, liquidation or winding up, and (ii)
in the case of any such reorganization, reclassification, merger, consolidation, sale, transfer, disposition, dissolution, liquidation
or winding up, at least five business days’ prior written notice of the date when the same shall take place. Such notice
in accordance with the foregoing clause also shall specify (i) the date on which any such record is to be taken for the purpose
of such dividend, distribution or right, the date on which the holders of Common Stock shall be entitled to any such dividend,
distribution or right, and the amount and character thereof, and (ii) the date on which any such reorganization, reclassification,
merger, consolidation, sale, transfer, disposition, dissolution, liquidation or winding up is to take place and the time, if any
such time is to be fixed, as of which the holders of Common Stock shall be entitled to exchange their Warrant Shares for securities
or other property deliverable upon such disposition, dissolution, liquidation or winding up. Each such written notice shall be
sufficiently given if addressed to the Holder at the last address of the Holder appearing on the books of the Company and delivered
in accordance with Section 15(d).

 

14.        Authorized
Shares. The Company covenants that during the period the Warrant is outstanding, it will reserve from its authorized and unissued
Common Stock a sufficient number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase
rights under this Warrant. The Company will take all such reasonable action as may be necessary to assure that such Warrant Shares
may be issued as provided herein without violation of any applicable law or regulation.

 

    	5

    	 

    

  

Except as and to the
extent waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amending its certificate
of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities
or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will
at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary
or appropriate to protect the rights of the Holder as set forth in this Warrant against impairment. Without limiting the generality
of the foregoing, the Company will (a) not increase the par value of any Warrant Shares above the amount payable therefor upon
such exercise immediately prior to such increase in par value and (b) take all such action as may be necessary or appropriate in
order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant.

 

15.        Miscellaneous.

 

(a)          Jurisdiction.
This Warrant shall constitute a contract under the laws of the State of New York, without regard to its conflict of law, principles
or rules.

 

(b)          Restrictions.
The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant will have restrictions upon resale imposed
by state and federal securities laws and/or as set forth in the agreement pursuant to which this Warrant was purchased.

 

(c)          Nonwaiver
and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of the Holder shall
operate as a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies, provided, however,
that all rights hereunder terminate on the Termination Date. If the Company willfully and knowingly fails to comply with any provision
of this Warrant, which results in any material damages to the Holder, the Company shall pay to the Holder such amounts as shall
be sufficient to cover any costs and expenses including, but not limited to, reasonable attorneys’ fees, including those
of appellate proceedings, incurred by the Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of
his, her or its rights, powers or remedies hereunder.

 

(d)          Notices.
All notices, requests, consents and other communications provided for herein shall be in writing and shall be effective upon delivery
in person, when faxed and received, or five business days after being mailed by certified or registered mail, return receipt requested,
postage pre-paid, addressed as follows:

 

(i)          If
to the Holder:

 

_____________________________

_____________________________

Phone: _______________________

Fax: _________________________

 

 

    	6

    	 

    

  

or to the address of the Holder as shown on the books of the
Company; or

 

(ii)         If
to the Company:

 

Rock Creek Pharmaceuticals, Inc.

2040 Whitfield Ave., Suite 300

Sarasota, Florida 34243

Telephone: (804) 527-1970

Facsimile: (804) 527-1976

Attention: Chief Financial Officer

 

with a copy to:

 

Foley & Lardner LLP

Attn: Curt P. Creely, Esq.

100 N. Tampa Street, Suite 2700

Tampa, Florida 33602

Telephone: (813) 225-4122

Facsimile: (813) 221-4210

 

or at such other address as the Holder or the Company, as applicable,
may hereafter have provided to the other in accordance with the provisions of this paragraph.

 

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

 

(f)          Successors
and Assigns; No Assignment. This Warrant and the rights and obligations evidenced hereby shall inure to the benefit of and
be binding upon the successors of the Company, provided that neither the Company (except pursuant to a transaction subject to Section
11 herein) nor the Holder may assign this Warrant without the prior written consent of the other party.

 

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

 

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

 

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

 

    	7

    	 

    

 

IN WITNESS WHEREOF,
the Company has caused this Warrant to be executed by its officer thereunto duly authorized.

 

	Dated:  ______________	ROCK CREEK PHARMACEUTICALS, INC.
	 	 	 
	 	By:	 
	 	 	Name:  Michael J. Mullan
	 	 	Title:  Chairman and Chief Executive Officer

 

Signature Page to Warrant 

 

    	 

    	 

    

 

NOTICE OF EXERCISE

 

To:    Rock Creek Pharmaceuticals, Inc.

 

(1)         The
undersigned hereby elects to purchase ________ Warrant Shares of Rock Creek Pharmaceuticals, Inc. pursuant to the terms of the
attached Warrant, and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes, if any.

 

(2)         Payment
shall take the form of lawful money of the United States.

 

(3)         Please
issue a certificate or certificates representing said Warrant Shares in the name of the undersigned. The Warrant Shares shall be
delivered to the following:

 

_______________________________

 

_______________________________

 

_______________________________

 

(4)         Accredited
Investor/Qualified Institutional Buyer. The undersigned is an “accredited investor” as defined in Regulation D under
the Securities Act of 1933, as amended.

 

	 	[PURCHASER]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	Dated:

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