Document:

Exhibit 4.20

 

THIS WARRANT AND THE SECURITIES ISSUABLE
UPON EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”),
OR ANY STATE SECURITIES LAW, AND MAY NOT BE SOLD, TRANSFERRED, ASSIGNED, PLEDGED, HYPOTHECATED OR OTHERWISE DISPOSED OF OR EXERCISED
UNLESS (I) A REGISTRATION STATEMENT REGISTERING SUCH SECURITIES UNDER THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS SHALL
HAVE BECOME EFFECTIVE, OR (II) AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT AND OR QUALIFICATION UNDER APPLICABLE STATE
SECURITIES LAWS IS AVAILABLE IN CONNECTION WITH SUCH OFFER, SALE OR TRANSFER.

 

AN INVESTMENT IN THESE SECURITIES INVOLVES
A HIGH DEGREE OF RISK. HOLDERS MUST RELY ON THEIR OWN ANALYSIS OF THE INVESTMENT AND ASSESSMENT OF THE RISKS INVOLVED.

 

Warrant to Purchase

	 ___________ shares	Warrant Number  ____ 

 

Warrant to Purchase Common Stock

of

CRYOPORT, INC.

 

THIS CERTIFIES that ____________ or any
subsequent holder hereof (“Holder”) has the right to purchase from Cryoport, Inc., a Nevada corporation, (the “Company”),
________ (______) fully paid and nonassessable shares of the Company’s common stock, $0.001 par value per share (“Common
Stock”), subject to adjustment as provided herein, at a price equal to the Exercise Price as defined in Section 1 below at
any time during the Exercise Period (as defined below).

 

Holder agrees with the Company that this
Warrant to Purchase Common Stock of the Company (this “Warrant” or this “Agreement”) is issued and all
rights hereunder shall be held subject to all of the conditions, limitations and provisions set forth herein.

 

1.   Exercise Price,
Term and Restriction on Exercise.

 

The Exercise Price (“Exercise Price”)
shall initially be $2.81 per share, subject to adjustment pursuant to the terms hereof, including but not limited to Section 5
below. The rights under this Warrant expire at 5:00 p.m., Pacific Time, on ________, 2021 (such period of exercise is referred
to herein as the “Term”).

 

Notwithstanding anything herein to the
contrary, the Company shall not issue to the Holder, and the Holder may not acquire, a number of shares of Common Stock upon exercise
of this Warrant to the extent that, upon such exercise, the number of shares of Common Stock then beneficially owned by the Holder
and its Affiliates and any other persons or entities whose beneficial ownership of Common Stock would be aggregated with the Holder’s
for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (including
shares held by any “group” of which the Holder is a member, but excluding shares beneficially owned by virtue of the
ownership of securities or rights to acquire securities that have limitations on the right to convert, exercise or purchase similar
to the limitation set forth herein) would exceed 9.98% of the total number of shares of Common Stock then issued and outstanding
(the “9.98% Cap”), provided that the 9.98% Cap shall only apply to the extent that the Common Stock is deemed to constitute
an “equity security” pursuant to Rule 13d-1(i) promulgated under the Exchange Act. For purposes hereof, “group”
has the meaning set forth in Section 13(d) of the Exchange Act and applicable regulations of the Securities and Exchange Commission
(the “SEC”), and the percentage held by the Holder shall be determined in a manner consistent with the provisions of
Section 13(d) of the Exchange Act. Upon the written request of the Holder, the Company shall, within two (2) Trading Days,
confirm orally and in writing to the Holder the number of shares of Common Stock then outstanding.

 

    1

     

    

 

“Affiliate” means any person
or entity that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control
with a person or entity, as such terms are used in and construed under Rule 144 under the Securities Act of 1933, as amended (the
“Securities Act”). With respect to a Holder of Warrants, any investment fund or managed account that is managed on
a discretionary basis by the same investment manager as such Holder will be deemed to be an Affiliate of such Holder.

 

2.   Exercise.

 

(a) Manner of Exercise.
During the Term (the “Exercise Period”), this Warrant may be Exercised as to all or any lesser number of whole shares
of Common Stock covered hereby (the “Warrant Shares” or the “Shares”) upon surrender of this Warrant, with
the Exercise Form attached hereto as Exhibit A (the “Exercise Form”) duly completed and executed, together
with the full Exercise Price (as defined below, which may be satisfied by a Cash Exercise or a Cashless Exercise, each as defined
below) for each share of Common Stock as to which this Warrant is Exercised, at the office of the Company, Cryoport, Inc., 17305
Daimler Street, Irvine, CA 92614, with an electronic copy (for informational purposes only, and not constituting delivery hereunder)
to: stockadministrator@cryoport.com, or at such other office or agency as the Company may designate in writing, by overnight mail
(such surrender and payment of the Exercise Price hereinafter called the “Exercise” of this Warrant).

 

(b) Date of Exercise.
If any portion of the Exercise Price is satisfied by a Cash Exercise (as defined below), the “Date of Exercise” of
the Warrant shall be defined as the later of (A) the date that the Exercise Form attached hereto as Exhibit A, completed
and executed is received by the Company and (B) the date that the Exercise Price is received by the Company. If no portion of the
Exercise Price is satisfied by a Cash Exercise, the “Date of Exercise” of the Warrant shall be defined as the date
the original Exercise Form is received by the Company.

 

(c) Delivery of Common
Stock Upon Exercise. The Company shall issue and deliver (or cause its Transfer Agent to issue and deliver) in accordance with
the terms hereof to or upon the order of the Holder that number of shares of Common Stock (“Exercise Shares”) for the
portion of this Warrant exercised as shall be determined in accordance herewith. Upon the Exercise of this Warrant or any part
hereof, the Company shall, at its own cost and expense, take all necessary action, including obtaining and delivering an opinion
of counsel, to assure that the Transfer Agent shall issue stock certificates in the name of Holder (or its nominee) or such other
persons as designated by Holder and in such denominations to be specified at Exercise representing the number of shares of Common
Stock issuable upon such Exercise.

 

(d) Restrictive Legend.
The Holder understands that the Exercise Shares will be issued pursuant to a claimed exemption from registration under the Securities
Act and thus the certificate for the Exercise Shares will bear a restrictive legend in substantially the following form (and a
stop-transfer order will be placed against transfer of the certificates for such securities):

 

“THE SECURITIES REPRESENTED
BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS.
THE SECURITIES MAY NOT BE SOLD, TRANSFERRED, ASSIGNED, PLEDGED, HYPOTHECATED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF AN EFFECTIVE
REGISTRATION STATEMENT FOR THE SECURITIES UNDER SAID ACT, OR PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER SAID ACT INCLUDING,
WITHOUT LIMITATION, PURSUANT TO RULES 144 OR 144A UNDER SAID ACT OR PURSUANT TO A PRIVATE SALE EFFECTED UNDER APPLICABLE FORMAL
OR INFORMAL SEC INTERPRETATION OR GUIDANCE, SUCH AS A SO-CALLED “4(1) AND A HALF” SALE.”

 

(e) Cancellation of
Warrant. This Warrant shall be canceled upon the full Exercise of this Warrant and if this Warrant is not Exercised in full,
Holder shall be entitled to receive a new Warrant (containing terms identical to this Warrant) representing any unexercised portion
of this Warrant in addition to such Common Stock.

 

    2

     

    

 

(f) Holder of Record.
Each person in whose name any Warrant for shares of Common Stock is issued shall, for all purposes, be deemed to be the Holder
of record of such shares on the Date of Exercise of this Warrant, irrespective of the date of delivery of the Common Stock purchased
upon the Exercise of this Warrant.

 

3.   Payment of Warrant
Exercise Price for Cash Exercise or Cashless Exercise.

 

(a) Payment Exercise
Price. Payment of the Exercise Price may be made by either of the following, or combination thereof, at the election of Holder:

 

(i) Cash Exercise: The Holder may exercise
this Warrant in cash, bank or cashier’s check or wire transfer; or

 

(ii) Cashless Exercise:
The Holder may exercise this Warrant in a cashless exercise transaction. In order to effect a Cashless Exercise, the Holder shall
surrender this Warrant at the principal office of the Company together with the Exercise Form attached hereto as Exhibit A indicating
that the Holder is exercising the Warrant pursuant to a cashless election, in which event the Company shall issue Holder a number
of shares of Common Stock computed using the following formula (a “Cashless Exercise”):

 

X = Y (A-B)/A

 

		where:	X = the number of shares of Common Stock to be issued
to Holder.

 

Y = the number of shares of Common Stock for which
this Warrant is being Exercised.

 

A = the Market Price of one (1) share of Common Stock
(for purposes of this Section 3(a)(ii), where “Market Price,” as of any date, means the Volume Weighted Average
Price (as defined herein) of the Company’s Common Stock during the ten (10) consecutive Trading Day period immediately preceding
the date in question.

 

B = the Exercise Price.

 

As used herein, the “Volume
Weighted Average Price” for any security as of any date means the volume weighted average sale price on The NASDAQ Global
Market (“NASDAQ”) as reported by, or based upon data reported by, Bloomberg Financial Markets or an equivalent, reliable
reporting service mutually acceptable to and hereafter designated by holders of a majority in interest of the Warrants and the
Company (“Bloomberg”) or, if NASDAQ is not the principal trading market for such security, the volume weighted average
sale price of such security on the principal securities exchange or trading market where such security is listed or traded as
reported by Bloomberg, or, if no volume weighted average sale price is reported for such security, then the last closing trade
price of such security as reported by Bloomberg, or, if no last closing trade price is reported for such security by Bloomberg,
the average of the bid prices of any market makers for such security that are listed in the over the counter market by the Financial
Industry Regulatory Authority, Inc. or in the “pink sheets” by the Pink OTC Market, Inc, or in the Over-The-Counter
Bulletin Board (“OTCBB”). If the Volume Weighted Average Price cannot be calculated for such security on such date
in the manner provided above, the volume weighted average price shall be the fair market value as mutually determined by the Company
and the Holders of a majority in interest of the Warrants being Exercised for which the calculation of the volume weighted average
price is required in order to determine the Exercise Price of such Warrants. “Trading Day” shall mean any day on which
the Common Stock is traded for any period on the OTCBB, NASDAQ, or on the principal securities exchange or other securities market
on which the Common Stock is then being traded. 

 

For purposes of Rule 144, it is intended,
understood and acknowledged that the Common Stock issuable upon Exercise of this Warrant in a Cashless Exercise transaction shall
be deemed to have been acquired at the time this Warrant was issued. Moreover, it is intended, understood and acknowledged that
the holding period for the Common Stock issuable upon Exercise of this Warrant in a Cashless Exercise transaction shall be deemed
to have commenced on the date this Warrant was issued.

 

    3

     

    

 

(b)
Dispute Resolution. In the case of a dispute as to the determination of the closing price or the Volume Weighted
Average Price of the Company’s Common Stock or the arithmetic calculation of the Exercise Price or Market Price, the Company
shall submit the disputed determinations or arithmetic calculations via facsimile within two (2) business days of receipt, or
deemed receipt, of the Exercise Notice, or other event giving rise to such dispute, as the case may be, to the Holder. If the
Holder and the Company are unable to agree upon such determination or calculation within two (2) business days of such disputed
determination or arithmetic calculation being submitted to the Holder, then the Company shall, within two (2) business days submit
via facsimile (i) the disputed determination of the closing price or the Volume Weighted Average Price of the Company’s
Common Stock to an independent, reputable investment bank selected by the Company and approved by the Holder, which approval shall
not be unreasonably withheld or (ii) the disputed arithmetic calculation of the Exercise Price or Market Price to the Company’s
independent, outside accountant. The Company shall cause the investment bank or the accountant, as the case may be, to perform
the determinations or calculations and notify the Company and the Holder of the results no later than five (5) business days from
the time such investment bank or accountant, as the case may be, receives the disputed determinations or calculations. Such investment
bank’s or accountant’s determination or calculation, as the case may be, shall be binding upon all parties absent
demonstrable error.

 

4.   Transfer Rights.
Subject to the provisions of Section 8 of this Warrant, this Warrant may be transferred on the books of the Company, in whole
or in part, in person or by attorney, upon surrender of this Warrant properly completed and endorsed. This Warrant shall be canceled
upon such surrender and, as soon as practicable thereafter, the person to whom such transfer is made shall be entitled to receive
a new Warrant or Warrants as to the portion of this Warrant transferred, and Holder shall be entitled to receive a new Warrant
as to the portion hereof retained.

 

5.   Adjustments Upon
Certain Events.

 

(a) Participation.
The Holder, as the holder of this Warrant, shall be entitled to receive such dividends paid and distributions of any kind made
to the holders of Common Stock of the Company to the same extent as if the Holder had Exercised this Warrant into Common Stock
(without regard to any limitations on exercise herein or elsewhere and without regard to whether or not a sufficient number of
shares are authorized and reserved to effect any such exercise and issuance) and had held such shares of Common Stock on the record
date for such dividends and distributions. Payments under the preceding sentence shall be made concurrently with the dividend or
distribution to the holders of Common Stock.

 

(b) Recapitalization
or Reclassification. If the Company shall at any time effect a stock split, payment of stock dividend, recapitalization, reclassification
or other similar transaction of such character that the shares of Common Stock shall be changed into or become exchangeable for
a larger or smaller number of shares, then upon the effective date thereof, the number of shares of Common Stock which Holder shall
be entitled to purchase upon Exercise of this Warrant shall be increased or decreased, as the case may be, in direct proportion
to the increase or decrease in the number of shares of Common Stock by reason of such stock split, payment of stock dividend, recapitalization,
reclassification or similar transaction, and the Exercise Price shall be, in the case of an increase in the number of shares, proportionally
decreased and, in the case of decrease in the number of shares, proportionally increased. The Company shall give Holder the same
notice it provides to holders of Common Stock of any transaction described in this Section 5(b).

 

(c) Exercise Price
Adjusted. As used in this Warrant, the term “Exercise Price” shall mean the purchase price per share specified
in Section 1 of this Warrant, until the occurrence of an event stated in this Section 5 or otherwise set forth in this
Warrant, and thereafter shall mean said price as adjusted from time to time in accordance with the provisions of said subsection.
No adjustment made pursuant to any provision of this Section 5 shall have the net effect of increasing the aggregate Exercise
Price in relation to the split adjusted and distribution adjusted price of the Common Stock.

 

(d) Adjustments: Additional
Shares, Securities or Assets. In the event that at any time, as a result of an adjustment made pursuant to this Section 5
or otherwise, Holder shall, upon Exercise of this Warrant, become entitled to receive shares and/or other securities or assets
(other than Common Stock) then, wherever appropriate, all references herein to shares of Common Stock shall be deemed to refer
to and include such shares and/or other securities or assets; and thereafter the number of such shares and/or other securities
or assets shall be subject to adjustment from time to time in a manner and upon terms as nearly equivalent as practicable to the
provisions of this Section 5.

 

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(e) Notice of Adjustments.
Whenever the Exercise Price is adjusted pursuant to the terms of this Warrant, the Company shall promptly mail to the Holder a
notice (an “Exercise Price Adjustment Notice”) setting forth the Exercise Price after such adjustment and setting forth
a statement of the facts requiring such adjustment. The Company shall, upon the written request at any time of the Holder, furnish
to such Holder a like Warrant setting forth (i) such adjustment or readjustment, (ii) the Exercise Price at the time
in effect and (iii) the number of shares of Common Stock and the amount, if any, of other securities or property which at
the time would be received upon Exercise of the Warrant. For purposes of clarification, whether or not the Company provides an
Exercise Price Adjustment Notice pursuant to this Section 5(e), upon the occurrence of any event that leads to an adjustment
of the Exercise Price, the Holder would be entitled to receive a number of Exercise Shares based upon the new Exercise Price, as
adjusted, for exercises occurring on or after the date of such adjustment, regardless of whether the Holder accurately refers to
the adjusted Exercise Price in the Exercise Form.

 

6.   Fractional Interests.

 

No fractional shares or scrip representing
fractional shares shall be issuable upon the Exercise of this Warrant, but on Exercise of this Warrant, Holder may purchase only
a whole number of shares of Common Stock. If, on Exercise of this Warrant, Holder would be entitled to a fractional share of Common
Stock or a right to acquire a fractional share of Common Stock, such fractional share shall be disregarded and the number of shares
of Common Stock issuable upon Exercise shall be the next higher whole number of shares.

 

7.   Reservation of
Shares.

 

From and after the date hereof, the Company
shall at all times reserve for issuance such number of authorized and unissued shares of Common Stock (or other securities substituted
therefor as herein above provided) as shall be sufficient for the Exercise of this Warrant.

 

8.   Restrictions on
Transfer.

 

(a) Registration or
Exemption Required. This Warrant has been issued in a transaction exempt from the registration requirements of the Securities
Act by virtue of Regulation D and exempt from state registration or qualification under applicable state laws. None of the Warrant
or the Exercise Shares may be pledged, transferred, sold, assigned, hypothecated or otherwise disposed of except pursuant to an
effective registration statement or an exemption to the registration requirements of the Securities Act and applicable state laws
including, without limitation, a so-called “4(1) and a half” transaction.

 

(b) Assignment.
Should the Holder desire to sell, transfer, assign, pledge, hypothecate or otherwise dispose of this Warrant, in whole or in part;
the Holder shall deliver a written notice to Company, substantially in the form of the Assignment attached hereto as Exhibit B,
indicating the person or persons to whom the Warrant is requested to be assigned and the respective number of Warrant Shares to
be assigned to each assignee. The Company may permit the assignment upon such reasonable conditions as the Company may require,
including the delivery to the Company of an acceptable opinion of counsel as to the assignment’s qualification for an exemption
from registration. This Warrant and the rights evidenced hereby shall inure to the benefit of and be binding upon the successors
and permitted assigns of the Holder.

 

(c) Representations
of the Holder. The right to acquire Common Stock or the Common Stock issuable upon exercise of the Holder’s rights contained
herein will be acquired for investment and not with a view to the sale or distribution of any part thereof, and the Holder has
no present intention of selling, transferring, assigning, pledging, hypothecating or otherwise disposing of this Warrant in any
public distribution of the same except pursuant to a registration or exemption. Holder is an “accredited investor”
within the meaning of the Securities and Exchange Commission’s Rule 501 of Regulation D, as presently in effect. The Holder
understands (i) that the Common Stock issuable upon exercise of the Holder’s rights contained herein is not registered under
the Securities Act or qualified under applicable state securities laws on the ground that the issuance contemplated by this Warrant
will be exempt from the registration and qualifications requirements thereof and (ii) that the Company’s reliance on such
exemption is predicated on the representations set forth in this Section 8(c). The Holder has such knowledge and experience in
financial and business matters as to be capable of evaluating the merits and risks of its investment and has the ability to bear
the economic risks of its investment.

 

    5

     

    

 

9.   Benefits of this
Warrant.

 

Nothing in this Warrant shall be construed
to confer upon any person other than the Company and Holder any legal or equitable right, remedy or claim under this Warrant and
this Warrant shall be for the sole and exclusive benefit of the Company and Holder.

 

10.   Governing Law.

 

All questions concerning the construction,
validity, enforcement and interpretation of this Agreement shall be governed by and construed and enforced in accordance with the
internal laws of the State of Nevada, without regard to the principles of conflicts of law thereof. Each party agrees that all
legal proceedings concerning the interpretations, enforcement and defense of the transactions contemplated by this Agreement (whether
brought against a party hereto or its respective affiliates, directors, officers, shareholders, employees or agents) shall be commenced
exclusively in the state and federal courts sitting in Nevada. Each party hereby irrevocably submits to the exclusive jurisdiction
of the state and federal courts sitting in such city for the adjudication of any dispute hereunder or in connection herewith or
with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit,
action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action
or proceeding is improper or is an inconvenient venue for such proceeding. Each party hereby irrevocably waives personal service
of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof via registered
or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under
this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing
contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted by law. The parties
hereby waive all rights to a trial by jury. If either party shall commence an action or proceeding to enforce any provisions of
this Agreement, then the prevailing party in such action or proceeding shall be reimbursed by the other party for its reasonable
attorneys’ fees and other costs and expenses incurred with the investigation, preparation and prosecution of such action
or proceeding.

 

11.   Loss of Warrant.

 

Upon receipt by the Company of evidence
of the loss, theft, destruction or mutilation of this Warrant, and (in the case of loss, theft or destruction) of indemnity or
security reasonably satisfactory to the Company, and upon surrender and cancellation of this Warrant, if mutilated, the Company
shall execute and deliver a new Warrant of like tenor and date.

 

12.   Notice or Demands.

 

Notices or demands pursuant to this Warrant
to be given or made by Holder to or on the Company shall be sufficiently given or made if sent by certified or registered mail,
return receipt requested, postage prepaid, and addressed, until another address is designated in writing by the Company, to the
address set forth in Section 2(a) above. Notices or demands pursuant to this Warrant to be given or made by the Company to
or on Holder shall be sufficiently given or made if sent by certified or registered mail, return receipt requested, postage prepaid,
and addressed, to the address of Holder set forth in the Company’s records, until another address is designated in writing
by Holder.

 

IN WITNESS WHEREOF, the undersigned has
executed this Warrant as of the _____ day of ______, 2016.

 

	 	CRYOPORT, INC.
	 	 
	 	 
	 	By:                                                                                       
	 	         Title:

 

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EXHIBIT A

 

EXERCISE FORM FOR WARRANT

 

TO: [                                      ]

 

CHECK
THE APPLICABLE BOX:

 

	 	The
                                         undersigned hereby irrevocably exercises the attached warrant (the “Warrant”)
                                         with respect to _________shares of Common Stock (the “Common Stock”) of Cryoport,
                                         Inc., a Nevada corporation (the “Company”). Payment shall take the form of
                                         (check applicable box):

                                                                       

         ̈
        in lawful money of the United States by certified check made payable to the Company or by wire transfer of immediately
        available funds to an account designated by the Company; or 

 

 ̈
the cancellation of such number of shares of Common Stock as is necessary, in accordance with the formula set forth in Section
3(a)(ii), to exercise the Warrants with respect to the maximum number of shares of Common Stock purchasable pursuant to the cashless
exercise procedure set forth in Section 3(a)(ii).

 

1. The undersigned
requests that any stock certificates for such shares be issued and, if applicable, a warrant representing any unexercised portion
hereof be issued, pursuant to the Warrant in the name of the undersigned and delivered to the undersigned at the address set forth
below.

 

2. Capitalized
terms used but not otherwise defined in this Exercise Form shall have the meaning ascribed thereto in the Warrant.

 

Dated: _______________

 

 

	 
	Signature
	 
	Print Name
	 
	Address

 

NOTICE

 

The signature to the foregoing Exercise Form must correspond
to the name as written upon the face of the attached Warrant in every particular, without alteration or enlargement or any change
whatsoever.

 

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EXHIBIT B

 

ASSIGNMENT

 

(To be executed by the registered holder

desiring to transfer the Warrant)

 

FOR VALUE RECEIVED, the undersigned holder of the attached warrant
(the “Warrant”) hereby sells, assigns and transfers unto the person or persons below named the right to purchase __________
shares of the Common Stock of Cryoport, Inc., a Nevada corporation, evidenced by the attached Warrant and does hereby irrevocably
constitute and appoint __________ attorney to transfer the said Warrant on the books of the Company, with full power of substitution
in the premises.

 

 

	Dated:  _______________	 	 
	 	 	Signature

 

 

 

Fill in for new registration of Warrant:

 

 

	 	 
	Name	 
	 	 
	 	 
	Address	 
	 	 
	 	 
	Please print name and address of assignee	 
	(including zip code number)	 

 

 

NOTICE

 

The signature to the foregoing Assignment must correspond to
the name as written upon the face of the attached Warrant in every particular, without alteration or enlargement or any change
whatsoever.

 

 

 

    8Exhibit 10.2

 

AGREEMENT

 

This AGREEMENT
(this “Agreement”) is dated as of August 10, 2016 by and among DarioHealth Corp., a Delaware corporation (the
“Company”), Dicilyon Consulting and Investment Ltd.(“Dicilyon”) and David Edery, an individual
(“Edery” and together with Dicilyon collectively referred to as the “Investor”). The Company and
the Investor shall be individually referred to as a “Party” and collectively as the “Parties.”

 

WHEREAS, Investor
purchased certain securities from the Company which were granted certain registration rights which required, among other things,
the continued effectiveness of certain registration statements (the “Registration Rights”); and

 

WHEREAS, the
Company has agreed to issue the Investor the Warrant (as hereinafter defined) in consideration for the waiver of the Registration
Rights; and

 

NOW, THEREFORE,
IN CONSIDERATION of the mutual covenants contained in this Agreement, and for other good and valuable consideration the receipt
and adequacy of which are hereby acknowledged, the Company and the Investor agree as follows:

 

1.          Issuance of
Warrant. As consideration for the Investor’s execution of this Agreement, the Company will issue Dicilyon a warrant to
purchase 300,000 shares of the Company’s common stock in the form annexed hereto as Exhibit A (the “Warrant”).
The shares of common stock underlying the Warrant shall be referred to as the “Warrant Shares.”

  

2.          Release by
Investor. In consideration of the mutual covenants and agreements set forth in this Agreement, Dicilyon and Edery on behalf
of themselves and their respective direct or indirect affiliates, members, shareholders, successors, parent companies, subsidiaries,
related business entities, managers, officers, directors, employees, agents, attorneys, heirs, executors, administrators, predecessors,
beneficiaries, successors and/or assigns, and any other persons or entities acting on behalf of Dicilyon and Edery, unconditionally
and irrevocably and forever waive, release, discharge, and covenant not to sue (either directly or indirectly) the Company and/or
any of its respective direct and/or indirect affiliates, members, shareholders, parent companies, subsidiaries, related business
entities, managers, officers, directors, employees, agents, attorneys, heirs, executors, administrators, predecessors, beneficiaries,
successors and/or assigns, and any other persons or entities acting on behalf of the Company, from any and all claims, actions,
causes of action, suits, debts, dues, sums of money, accounts, reckonings, bonds, bills, specialties, covenants, contracts, controversies,
agreements, promises, variances, trespasses, damages (including, without limitation, compensatory, consequential and/or punitive
damages), judgments, extents, executions, demands, fees, and liabilities of any kind whatsoever, at law or in equity (each, a “Claim”,
and collectively, “Claims”) whether known or unknown, which each of Dicilyon and Edery ever had, now has or
can, shall, or may have against the Company and its direct or indirect affiliates, members, shareholders, parent companies,
subsidiaries, related business entities, managers, officers, directors, employees, agents, attorneys, heirs, executors, administrators,
predecessors, beneficiaries, successors and/or assigns, and any other persons or entities acting on behalf of the Company, arising
by reason of any matter, cause or thing whatsoever, from the beginning of the world to the date of this Agreement, including, without
limitation, any Claims relating to the waiver of the Registration Rights or otherwise arising under or in connection with any business
or personal relationship, contract, or agreement existing or imputed by law, known or unknown.

 

    1 

     

    

 

Dicilyon and Edery irrevocably and forever
covenant to refrain from asserting, directly or indirectly, any Claim of any kind which is based upon any matter released or disclaimed
by this Agreement. Dicilyon and Edery represent and warrant that they have not assigned or transferred any Claim (or any interest
in any Claim) released or discharged by Dicilyon and Edery pursuant to this Agreement. The releases set forth in this Section 2
shall be construed as broadly as possible.

 

3.          Registration
Rights. On or prior to November 30, 2016, the Company shall prepare and file with the Securities and Exchange Commission (the
“SEC”) a Registration Statement for the resale of the Warrant Shares. The Company shall use its commercially
best efforts to cause the Registration Statement to be declared effective under the Securities Act of 1933, as amended (the “Securities
Act”), as promptly as possible after the filing thereof, and shall use its commercially best efforts to keep such Registration
Statement, with respect to Dicilyon, continuously effective under the Securities Act until the earlier to occur of (i) the date
on which the Dicilyon may sell the Warrant Shares then held in compliance with Rule 144, (ii) all Warrant Shares covered by the
Registration Statement have been sold by the Investor, or (iii) two years from the effective date of the Registration Statement.

  

4.          Provision
by Investor of Certain Information in Connection with the Registration Statement. The Investor agrees to furnish to the Company
in writing (i) such information as the Company may reasonably request for use in connection with the Registration Statement within
5 business days after receipt of a request therefor, and (ii) a completed questionnaire in the form satisfactory to the Company.
The Investor agrees to furnish promptly to the Company all information required to be disclosed in order to make the information
previously furnished to the Company by the Investor not materially misleading.

  

5.          Authority;
No Conflict. Each Party represents that he or it has full right, power and authority to enter into this Agreement, and this
Agreement constitutes a legal, valid and binding obligation of such Party. Each Party represents that the execution, delivery and
performance of this Agreement do not violate or conflict with any law applicable to him or it, any agreement or instrument to which
he or it is a party, any order or judgment of any court or other agency of government applicable to him or it or any contractual
restriction binding on or affecting him or it.

  

6.          Legal Fees.
Each Party will pay his or its own legal fees and costs with respect to this Agreement.

 

7.          Related Parties;
Successors in Interest.  The Parties hereby agree that this Agreement shall be binding upon the Parties and each
of them, and, as applicable, upon (i) their predecessors, successors and heirs, (ii) their affiliates, subsidiaries,
divisions, alter egos and related entities, and (iii) their officers, directors, trustees, partners, parents, stockholders,
employees, attorneys, assigns, agents and representatives, and any or all of them.

  

8.          No Admission.  The
Parties expressly agree that this Agreement is made in compromise of disputed claims and with no admission as to fault or liability
by any of them.

  

    2 

     

    

 

9.          Publicity.  The
Parties agree that the terms of this Agreement are confidential and may not be disclosed to any third parties except to comply
with applicable laws. The Parties agree not to issue any press releases or other public statement regarding the waiver of the Registration
Rights, including this Agreement, except that the Parties may issue reports, releases or other announcements reasonably required
for SEC, public company reporting or other necessary regulatory purposes. Notwithstanding anything contained herein to the contrary,
the Investor acknowledges and agrees that the Company may be required to publicly report the contents of this Agreement and publicly
file a copy of this Agreement in order to comply with SEC regulations.

  

10.           No
Assignment. This Agreement, and any and all rights, duties and obligations hereunder, shall not be assigned, transferred, delegated
or sublicensed by any Party without the prior written consent of the other Parties. Any attempt by a Party without such permission
to assign, transfer, delegate or sublicense any rights, duties or obligations that arise under this Agreement shall be void.

  

11.          Advice of
Counsel.  Each Party represents that it has been represented, or has had the opportunity to be represented, by independent
legal counsel of its own choice throughout all of the negotiations that preceded the execution of this Agreement and that it has
executed this Agreement with the consent and upon the advice of such independent legal counsel, or that it has had the opportunity
to seek such consent and advice. Each Party acknowledges that it has read this Agreement and assents to all the terms and conditions
contained herein without any reservation whatsoever and that it has had the opportunity to have the same explained to it by its
own counsel, who have answered any and all questions which have been asked of them, with regard to the meaning of any provision
hereof.

  

12.          Entire Agreement.  This
Agreement contain the entire agreement and understanding of the Parties concerning the subject matter hereof, and supersede and
replace all prior negotiations, proposed agreements, representations, and agreements. Each of the Parties acknowledges that it
is not executing this Agreement in reliance on any promise, representation, or warranty not contained in this Agreement.

 

13.          Severability.
If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal,
void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full
force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their commercially
reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated
by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that
they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be
hereafter declared invalid, illegal, void or unenforceable.

  

14.          Governing
Law. All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed
by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of
conflicts of law thereof.

  

    3 

     

    

 

15.          Waivers;
Amendment. A provision of this Agreement may be waived only by a writing signed by the waiving Party. No provision of this
Agreement may be modified, supplemented or amended except in a written instrument signed by the Parties.

 

16.           Construction.
The parties agree that each of them and/or their respective counsel have reviewed and had an opportunity to revise this Agreement
and, therefore, the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party
shall not be employed in the interpretation of this Agreement or any amendments thereto.

  

17.          Execution.
This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered one and the same
agreement and shall become effective when counterparts have been signed by each party and delivered to each other party, it being
understood that the parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission
or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and binding obligation of the
party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf”
signature page were an original thereof.

 

 

 

 

 

[signature page follows]

 

    4 

     

    

 

 

IN WITNESS WHEREOF,
the parties hereto have caused this Agreement to be duly executed by their respective authorized signatories as of the date first
indicated above.

 

	 	 	 
	DARIOHEALTH CORP.	 
	 	 	 
	 	 	 
	 	 	 
	By:	/s/ Zvi Ben-David	 
	    	Name: Zvi Ben-David	 
	     	Title:   CFO	 
	 	 	 
	INVESTOR:	 
	 	 	 
	Dicilyon Consulting and Investment Ltd.	 
	 	 	 
	By: 	David Edery 	 
	    	Name: David Edery	 
	    	Title: Chairman 	 
	 	 	 
	By: 	/s/ David Edery	 
	     	Name: David Edery 	 
	    	 	 

 

 

 

    5 

     

    

 

 

Exhibit A

 

Form of Warrant

 

 

 

    6 

     

    

  

NEITHER THIS SECURITY NOR THE SECURITIES
INTO WHICH THIS SECURITY IS EXERCISABLE HAS BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION
OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE
SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF
THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE COMPANY
TO SUCH EFFECT. 

  

	 	August 10, 2016

 

DARIOHEALTH CORP.

Common Stock Purchase Warrant

 

THIS CERTIFIES THAT,
for value received, ___________________________ (the “Holder”), is entitled to subscribe for and purchase,
at the Exercise Price (as defined below), from DarioHealth Corp., a Delaware corporation (the “Company”), shares
of the Company’s common stock, par value $0.0001 (the “Common Stock”), at any time prior to 5:00 p.m.,
New York time, on March 8, 2021 (the “Warrant Exercise Term”).

 

This Warrant is issued
in accordance with, and subject to, the terms and conditions described in the Agreement, dated as of even date herewith, between
the initial Holder, David Edery and the Company (the “Agreement”). All capitalized terms used but not defined
herein shall have the meanings ascribed to them in the Agreement.

 

This Warrant is subject to the following
terms and conditions:

 

1.           Shares.
The Holder has, subject to the terms set forth herein, the right to purchase up to an aggregate of 300,000 shares of Common Stock
(the “Warrant Shares”) at a per share exercise price of $4.50, subject to adjustment as provided for herein
(the “Exercise Price”).

 

2.           Exercise
of Warrant.

 

(a)           Exercise.
This Warrant may be exercised by the Holder at any time prior to the end of the Warrant Exercise Term, in whole or in part, by
delivering the notice of exercise attached as Exhibit A hereto (the “Notice of Exercise”), duly executed
by the Holder to the Company at its principal office, or at such other office as the Company may designate, accompanied by payment,
by wire transfer of immediately available funds to the order of the Company to an account designated by the Company, of the amount
obtained by multiplying the number of Warrant Shares designated in the Notice of Exercise by the Exercise Price (the “Purchase
Price”). For purposes hereof, “Exercise Date” shall mean the date on which all deliveries required
to be made to the Company upon exercise of this Warrant pursuant to this Section 2(a) shall have been made. The Holder shall not
be required to deliver the original Warrant in order to effect an exercise hereunder. No originals of the Notice of Exercise shall
be required to be delivered, nor shall any medallion guarantee (or any other type of guarantee or notarization) of any Notice of
Exercise shall be required.

 

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(b)            Cashless
Exercise.

 

(i) Notwithstanding anything
contained herein to the contrary, if and only if a Registration Statement covering the resale of all or any portion of the Warrant
Shares is not available for the resale of such Warrant Shares (such unregistered portion of the Warrant Shares, the “Unavailable
Warrant Shares”), the Holder may, in its sole discretion, exercise this Warrant solely with respect to the Unavailable Warrant
Shares and, in lieu of making the cash payment otherwise contemplated to be made to the Company upon such exercise in payment of
the aggregate Exercise Price for such Unavailable Warrant Shares, elect instead to exercise the Warrant on a cashless basis as
described in paragraph (ii) below.

 

(ii) Upon a “cashless
exercise”, the Holder shall be entitled to receive the number of Warrant Shares equal to the quotient obtained by dividing
(A-B) (X) by (A), where:

 

	 	(A)	= the VWAP on the Trading Day immediately preceding the Exercise Date;

 

	 	(B)	= the Exercise Price of the Warrant, as adjusted as set forth herein; and

 

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

 

If the Warrant Shares are issued in such
a cashless exercise, the Company acknowledges and agrees that, in accordance with Section 3(a)(9) of the Securities Act, the Warrant
Shares shall take on the registered characteristics of the Warrants being exercised and the Company agrees not to take any position
contrary thereto.

 

(c)            Issuance
of Certificates. As soon as practicable after the exercise of this Warrant, in whole or in part, in accordance with Section
2(a) hereof (and in no event later than two (2) Trading Days following the delivery of the Notice of Exercise), the Company, at
its expense, shall cause to be issued in the name of and delivered to the Holder: (i) a certificate or certificates for (or, if
applicable, by delivery through the facilities of the Depository Trust Company in electronic form of) the number of fully paid
and non-assessable Warrant Shares to which the Holder shall be entitled upon such exercise and, if applicable, (ii) a new warrant
of like tenor to purchase all of the Warrant Shares that may be purchased pursuant to the portion, if any, of this Warrant not
exercised by the Holder. The Holder shall for all purposes hereof be deemed to have become the Holder of record of such Warrant
Shares on the date on which the Notice of Exercise and payment of the Purchase Price in accordance with Section 2(a) hereof were
delivered and made, respectively, irrespective of the date of delivery of such certificate or certificates, except that if the
date of such delivery, notice and payment is a date when the stock transfer books of the Company are closed, such person shall
be deemed to have become the holder of record of such Warrant Shares at the close of business on the next succeeding date on which
the stock transfer books are open.

 

    8 

     

    

 

(d)           Taxes.
The issuance of the Warrant Shares upon the exercise of this Warrant, and the delivery of certificates or other instruments representing
such Warrant Shares, shall be made without charge to the Holder for any tax or other charge of whatever nature in respect of such
issuance and the Company shall bear any such taxes in respect of such issuance.

 

3.           Adjustment
of Exercise Price.

 

(a)           Adjustment
for Reclassification, Consolidation or Merger. If while this Warrant, or any portion hereof, remains outstanding and unexpired
there shall be (i) a reorganization or recapitalization (other than a combination, reclassification, exchange or subdivision of
shares otherwise provided for herein), (ii) a merger or consolidation of the Company with or into another corporation or other
entity in which the Company shall not be the surviving entity, or a reverse merger in which the Company shall be the surviving
entity but the shares of the Company’s capital stock outstanding immediately prior to the merger are converted by virtue
of the merger into other property, whether in the form of securities, cash or otherwise, or (iii) a sale or transfer of the Company’s
properties and assets as, or substantially as, an entirety to any other corporation or other entity in one transaction or a series
of related transactions, then, as a part of such reorganization, recapitalization, merger, consolidation, sale or transfer, unless
otherwise directed by the Holder, all necessary or appropriate lawful provisions shall be made so that the Holder shall thereafter
be entitled to receive upon exercise of this Warrant, during the period specified herein and upon payment of the Exercise Price
then in effect, the greatest number of shares of capital stock or other securities or property that a holder of the Warrant Shares
deliverable upon exercise of this Warrant would have been entitled to receive in such reorganization, recapitalization, merger,
consolidation, sale or transfer if this Warrant had been exercised immediately prior to such reorganization, recapitalization,
merger, consolidation, sale or transfer, all subject to further adjustment as provided in this Section 3. If the per share consideration
payable to the Holder for Warrant Shares in connection with any such transaction is in a form other than cash or marketable securities,
then the value of such consideration shall be determined in good faith by the Company’s Board of Directors. The foregoing
provisions of this paragraph shall similarly apply to successive reorganizations, recapitalizations, mergers, consolidations, sales
and transfers and to the capital stock or securities of any other corporation that are at the time receivable upon the exercise
of this Warrant. In all events, appropriate adjustment shall be made in the application of the provisions of this Warrant with
respect to the rights and interests of the Holder after the transaction, to the end that the provisions of this Warrant shall be
applicable after that event, as near as reasonably may be, in relation to any shares or other property deliverable or issuable
after such reorganization, recapitalization, merger, consolidation, sale or transfer upon exercise of this Warrant.

 

(b)           Adjustments
for Split, Subdivision or Combination of Shares. If while this Warrant, or any portion hereof, remains outstanding and unexpired
the Company shall subdivide (by any stock split, stock dividend, recapitalization, reorganization, reclassification or otherwise)
the shares of Common Stock subject to acquisition hereunder, then, upon the effective date of such subdivision, the Exercise Price
in effect immediately prior to such subdivision will be proportionately reduced and the number of shares of Common Stock subject
to acquisition upon exercise of the Warrant will be proportionately increased. If the Company at any time combines (by reverse
stock split, recapitalization, reorganization, reclassification or otherwise) the shares of Common Stock subject to acquisition
hereunder, then, upon the effective date of such combination, the Exercise Price in effect immediately prior to such combination
will be proportionately increased and the number of shares of Common Stock subject to acquisition upon exercise of the Warrant
will be proportionately decreased.

 

    9 

     

    

 

(c)            Adjustment
Upon Issuance of Common Stock. If and whenever on or after the date hereof and prior to March 8, 2017 (the “Applicable
Period”), the Company issues, sells or delivers, or in accordance with this Section 3(c) is deemed to have issued, sold
or delivered, any Common Stock (including the issuance, sale or delivery of Common Stock owned or held by or for the account of
the Company, but excluding any Excluded Securities (as hereinafter defined) issued or sold or deemed to have been issued, sold
or delivered) for a consideration per share less than a price equal to the Exercise Price in effect immediately prior to such issuance,
sale or delivery or deemed issuance, sale or delivery (such Exercise Price then in effect is referred to as the “Applicable
Price”) (the foregoing a “Dilutive Issuance”), then immediately after such Dilutive Issuance, the
Exercise Price then in effect shall be reduced to the New Issuance Price (as hereinafter defined).

 

For all purposes of
the foregoing (including, without limitation, determining the adjusted Exercise Price and consideration per share under this Section
3(c)), the following shall be applicable:

 

(i) Issuance of
Options. If the Company grants or sells any Options (as hereinafter defined) (other than Options that qualify as Excluded Securities)
during the Applicable Period and the lowest price per share for which one share is issuable upon the exercise of any such Option
or upon conversion, exercise or exchange of any Convertible Securities (as hereinafter defined) issuable upon exercise of any such
Option is less than the Applicable Price, then such share shall be deemed to be outstanding and to have been issued and sold or
delivered by the Company at the time of the granting or sale of such Option for the New Issuance Price. For purposes of this Section
3(c)(i), the “lowest price per share for which one share of Common Stock is issuable upon the exercise of any such Options
or upon conversion, exercise or exchange of any Convertible Securities issuable upon exercise of any such Option” shall be
equal to (1) the sum of the lowest amounts of consideration (if any) received or receivable by the Company with respect to any
one share of Common Stock upon the granting or sale of such Option, upon exercise of such Option and upon conversion, exercise
or exchange of any Convertible Security issuable upon exercise of such Option minus (2) the sum of all amounts paid or payable
to the holder of such Option (or any other person or entity) upon the granting or sale of such Option, upon exercise of such Option
and upon conversion, exercise or exchange of any Convertible Security issuable upon exercise of such Option plus the value of any
other consideration received or receivable by, or benefit conferred on, the holder of such Option (or any other person or entity).
Except as contemplated below, no further adjustment of the Exercise Price shall be made upon the actual issuance of such shares
of Common Stock or of such Convertible Securities upon the exercise of such Options.

 

    10 

     

    

 

(ii) Issuance of
Convertible Securities. If the Company issues or sells any Convertible Securities (other than Convertible Securities that qualify
as Excluded Securities) during the Applicable Period and the lowest price per share for which one share of Common Stock is issuable
upon the conversion, exercise or exchange thereof is less than the Applicable Price, then such share of Common Stock shall be deemed
to be outstanding and to have been issued and sold or delivered by the Company at the time of the issuance or sale of such Convertible
Securities for the New Issuance Price. For the purposes of this Section 3(c)(ii), the “lowest price per share for which one
share of Common Stock is issuable upon the conversion, exercise or exchange thereof” shall be equal to (x) the sum of the
lowest amounts of consideration (if any) received or receivable by the Company with respect to one share of Common Stock upon the
issuance or sale of the Convertible Security and upon conversion, exercise or exchange of such Convertible Security minus (2) the
sum of all amounts paid or payable to the holder of such Convertible Security (or any other person or entity) upon the issuance
or sale of such Convertible Security plus the value of any other consideration received or receivable by, or benefit conferred
on, the holder of such Convertible Security (or any other person or entity). Except as contemplated below, no further adjustment
of the Exercise Price shall be made upon the actual issuance of such shares of Common Stock upon conversion, exercise or exchange
of such Convertible Securities, and if any such issue or sale of such Convertible Securities is made upon exercise of any Options
for which adjustment of Warrants has been or is to be made pursuant to other provisions of this Section 3(c), except as contemplated
below, no further adjustment of the Exercise Price shall be made by reason of such issue, sale or delivery.

 

(iii) Change in
Option Price. If during the Applicable Period the purchase or exercise price provided for in any Options, the additional consideration,
if any, payable upon the issue, conversion, exercise or exchange of any Convertible Securities or the rate at which any Convertible
Securities are convertible into or exercisable or exchangeable for Common Stock increases or decreases at any time, the Exercise
Price in effect at the time of such increase or decrease shall be adjusted to the Exercise Price which would have been in effect
at such time had such revised terms been in effect. For purposes of this Section 3(c)(iii), if the terms of any Option or Convertible
Security that was outstanding as of the original issuance of the Warrants are increased or decreased in the manner described in
the immediately preceding sentence, then such Option or Convertible Security and the shares of Common Stock deemed issuable upon
exercise, conversion or exchange thereof shall be deemed to have been issued as of the date of such increase or decrease. No adjustment
pursuant to this Section 3(c) shall be made if such adjustment would result in an increase of the Exercise Price then in effect.
For purposes of clarity, if the Company enters into a Variable Rate Transaction (as hereinafter defined), the Company shall be
deemed to have issued Common Stock, Options or Convertible Securities at the lowest possible conversion or exercise price at which
such securities may be converted or exercised. For purposes herein, no Variable Rate Transaction shall be Excluded Securities.

 

(d)           Other
Events. If any event occurs of the type contemplated by the provisions of Section 3(a) or (b) but not expressly provided for
by such provisions (including, without limitation, the granting of stock appreciation rights, Adjustment Rights, phantom stock
rights or other rights with equity features to all holders of Common Stock for no consideration), then the Company's Board of Directors
will, at its discretion and in good faith, make an adjustment in the Exercise Price and the number of Warrant Shares or designate
such additional consideration to be deemed issuable upon exercise of a Warrant, so as to protect the rights of the registered Holder.
No adjustment to the Exercise Price will be made pursuant to more than one sub-section of this Section 3 in connection with a single
issuance.

 

    11 

     

    

 

(e)           Notice
of Adjustments. Upon any adjustment of the Exercise Price and any increase or decrease in the number of Warrant Shares purchasable
upon the exercise of this Warrant, then, and in each such case, the Company, within 15 days thereafter, shall give written notice
thereof to the Holder at the address of such Holder as shown on the books of the Company, which notice shall state the Exercise
Price as adjusted and, if applicable, the increased or decreased number of Warrant Shares purchasable upon the exercise of this
Warrant, setting forth in reasonable detail the method of calculation of each.

 

4.           Notices.
Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and
shall be deemed given and effective on the earliest of: (a) the date of transmission, if such notice or communication is delivered
via facsimile at the facsimile number or email attachment as set forth on the signature pages attached hereto at or prior to 5:30
p.m. (New York City time) on a Trading Day, (b) the next Trading Day after the date of transmission, if such notice or communication
is delivered via facsimile at the facsimile number or email attachment as set forth on the signature pages attached hereto on a
day that is not a Trading Day or later than 5:30 p.m. (New York City time) on any Trading Day, (c) the second (2nd) Trading Day
following the date of mailing, if sent by U.S. nationally recognized overnight courier service or (d) upon actual receipt by the
party to whom such notice is required to be given. The address for such notices and communications shall be as set forth on the
signature pages attached hereto.

 

5.           Legends.
Unless the Warrant Shares are registered for resale with the Commission, each certificate evidencing the Warrant Shares issued
upon exercise of this Warrant shall be stamped or imprinted with a legend substantially in the following form (in addition to any
legend required by applicable state securities or “blue sky” laws):

 

“THE SECURITIES
REPRESENTED BY THIS CERTIFICATE (THE “SECURITIES”) HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS AND MAY NOT BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS
REGISTERED UNDER THE SECURITIES ACT AND UNDER APPLICABLE STATE SECURITIES LAWS OR THE COMPANY SHALL HAVE RECEIVED AN OPINION OF
COUNSEL THAT REGISTRATION OF SUCH SECURITIES UNDER THE SECURITIES ACT AND UNDER THE PROVISIONS OF APPLICABLE STATE SECURITIES LAWS
IS NOT REQUIRED.”

 

Certificates evidencing
the Warrant Shares shall not be required to contain any legend: (i) while a Registration Statement is effective under the Securities
Act, (ii) following any sale of such Warrant Shares pursuant to Rule 144, (iii) if such Warrant Shares are eligible for sale under
Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144
as to such Warrant Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable
requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission).

 

    12 

     

    

 

6.           Removal
of Legend. Upon request of a holder of a certificate with the legends required by Section 5 hereof, the Company shall issue
to such holder a new certificate therefor free of any transfer legend, if, with such request, the Company shall have received an
opinion of counsel satisfactory to the Company in form and substance to the effect that any transfer by such holder of the Warrant
Shares evidenced by such certificate will not violate the Securities Act or any applicable state securities laws.

 

7.           Fractional
Shares. No fractional Warrant Shares will be issued in connection with any exercise hereunder. Instead, the Company shall round
up, as nearly as practicable to the nearest whole Share, the number of Warrant Shares to be issued.

 

8.           Rights
of Stockholders. Except as expressly provided herein, the Holder, as such, shall not be entitled to vote or be deemed the holder
of the Warrant Shares or any other securities of the Company that may at any time be issuable on the exercise hereof for any purpose,
nor shall anything contained herein be construed to confer upon the Holder, as such, any of the rights of a stockholder of the
Company or any right to vote for the election of directors or upon any matter submitted to stockholders at any meeting thereof,
or to give or withhold consent to any corporate action (whether upon any recapitalization, issuance of stock, reclassification
of stock, change of par value, consolidation, merger, conveyance, or otherwise) or to receive notice of meetings, or otherwise
until this Warrant shall have been exercised and the Warrant Shares purchasable upon the exercise hereof shall have been issued,
as provided herein.

 

9.           No
Transfer. This Warrant shall be assignable and transferable, provided that no such assignment and transfer shall be valid unless
(a) the same shall be valid under and undertaken in accordance with applicable law, rule or regulation and (b) the provision of
11(e) of this Agreement shall be adhered to as a condition to such transfer or assignment. The Warrants may only be disposed of
in compliance with U.S. state and U.S. federal securities laws. In connection with any transfer of the Warrants other than pursuant
to an effective Registration Statement or Rule 144, to the Company or to an affiliate of the Holder, the Company may require the
transferor thereof to provide to the Company an opinion of counsel selected by the transferor and reasonably acceptable to the
Company, the form and substance of which opinion shall be reasonably satisfactory to the Company, to the effect that such transfer
does not require registration of such transferred Warrants under the Securities Act. As a condition of transfer, any such transferee
shall agree in writing to be bound by the terms of this Agreement and shall have the rights and obligations of the Holder.

 

    13 

     

    

 

10.           Definitions.

 

As used herein, the following terms shall
have the following meanings:

 

(a)          “Adjustment
Right” means any right granted with respect to any securities issued in connection with, or with respect to, any issuance,
sale or delivery (or deemed issuance, sale or delivery in accordance with Section 3) of Common Stock (other than rights of the
type described in Sections 3(a) and 3(b) hereof) that could result in a decrease in the net consideration received by the Company
in connection with, or with respect to, such securities (including, without limitation, any cash settlement rights, cash adjustment
or other similar rights) but excluding anti-dilution and other similar rights (including pursuant to Section 3(c) of this Agreement).

 

(b)          “Approved
Stock Plan” means any employee benefit plan which has been approved by the board of directors of the Company prior to
or subsequent to the date hereof pursuant to which Common Stock and options to purchase Common Stock may be issued to any employee,
consultant, officer or director or other service provider for services provided to the Company in their capacity as such.

 

(c)          “Convertible
Securities” means any notes, rights, warrants or other securities (other than Options) that are at any time and under
any circumstances, directly or indirectly, convertible into, exercisable or exchangeable for, or which otherwise entitles the holder
thereof to acquire, shares of Common Stock.

 

(d)          “Excluded
Securities” means (1) Common Stock or options or other rights to purchase Common Stock or other awards issued to directors,
officers, employees, consultants or other service providers of the Company in their capacity as such pursuant to an Approved Stock
Plan, provided that (A) all such issuances (taking into account the Common Stock issuable upon exercise of such options) after
the date hereof pursuant to this clause (i) do not, in the aggregate, exceed more than 30% of the Common Stock issued and outstanding
immediately prior to the date hereof; provided however, that such issuances to consultants or other service providers do not, in
each instance in the aggregate, exceed more than 5% of the Common Stock issued and outstanding immediately prior to the date hereof,
and (B) the exercise price of any such options is not lowered, none of such options are amended to increase the number of shares
issuable thereunder in each case other than pursuant to the terms hereof (including any anti-dilution provisions contained therein)
and none of the terms or conditions of any such options are otherwise materially changed in any manner that adversely affects any
of the holders of Warrants; (2) Common Stock issued upon the conversion or exercise of Convertible Securities (other than options
or other rights to purchase Common Stock issued pursuant to an Approved Stock Plan that are covered by clause (i) above) issued
prior to the date hereof, provided that the conversion price of any such Convertible Securities (other than options or other rights
to purchase Common Stock issued pursuant to an Approved Stock Plan that are covered by clause (1) above) is not lowered through
the amendment or waiver of such Convertible Security, none of such Convertible Securities (other than options or other rights to
purchase Common Stock issued pursuant to an Approved Stock Plan that are covered by clause (1) above) are amended to increase the
number of shares issuable thereunder and none of the terms or conditions of any such Convertible Securities (other than options
or other rights to purchase Common Stock issued pursuant to an Approved Stock Plan that are covered by clause (1) above) are otherwise
materially changed in any manner that adversely affects any of the holders of Warrants; (3) Common Stock issuable upon exercise
of the Warrants; and (4) securities issuable in connection with strategic license agreements, other partnering arrangements or
acquisitions or mergers where the purchaser or acquirer of the securities in such issuance solely consists of (A) either (x) the
actual participants in such strategic license, strategic alliance, strategic partnership or other partnering arrangements, (y)
the actual owners of such assets or securities acquired in such acquisition or merger or (z) the stockholders, partners or members
of the foregoing persons or entities and (B) number or amount of securities issued to such person or entity by the Company shall
not be disproportionate (as determined in good faith by the Board of Directors of the Company) to either (x) the fair market value
of such person’s or entity’s actual contribution to such strategic alliance or strategic partnership or (y) the proportional
ownership of such assets or securities to be acquired by the Company, as applicable; provided, that, notwithstanding the foregoing,
such purchaser or acquirer of the securities in such issuance shall not include any person regularly engaged in the business of
buying or selling securities.

 

    14 

     

    

 

 

(e)          “New
Issuance Price” means a price (calculated to the nearest cent) determined in accordance with the following formula:

 

EP2 = EP1* (A + B)
÷ (A + C).

 

For purposes of the foregoing formula,
the following definitions shall apply:

 

	 	(i)	  “EP2” shall mean the adjusted Exercise Price;

 

	 	(ii)	   “EP1” shall mean the Exercise Price in effect immediately prior to such issuance of Common Stock;

 

	 	(iii)	  “A” shall mean the number of shares of Common Stock outstanding immediately prior to such issue of additional Common Stock including the issuance, sale or delivery of Common Stock owned or held by or for the account of the Company, (treating for this purpose as outstanding all shares of Common Stock issuable upon exercise of Options outstanding immediately prior to such issue or upon conversion or exchange of Convertible Securities outstanding (assuming exercise of any outstanding Options therefor) immediately prior to such issue);  

 

	 	(iv)	  “B” shall mean the number of shares of Common Stock that would have been issued if such additional shares of Common Stock had been issued at an Exercise Price equal to EP1 (determined by dividing the aggregate consideration received by the Company in respect of such issue by EP1); and

 

	 	(v)	  “C” shall mean the number of such additional shares of Common Stock issued in such transaction.

 

(f)          “Options”
means any rights, warrants or options to subscribe for or purchase Common Stock or Convertible Securities.

 

    15 

     

    

 

(g)          “Registration
Statement” shall mean the Registration Statement filed by the Company pursuant to Section 3 of the Agreement.

 

(h)          “Trading
Day” means any day on which the Common Stock is traded on the Trading Market, or, if the Trading Market is not the principal
trading market for the Common Stock, then on the principal securities exchange or securities market in the United States on which
the Common Stock is then traded, provided that “Trading Day” shall not include any day on which the Common Stock is
are scheduled to trade on such exchange or market for less than 4.5 hours or any day that the Common Stock is suspended from trading
during the final hour of trading on such exchange or market (or if such exchange or market does not designate in advance the closing
time of trading on such exchange or market, then during the hour ending at 4:00 P.M., New York City time).

 

(i)           “Trading
Market” means NYSE MKT, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market or the New
York Stock Exchange.

 

(j)          “Variable
Rate Transaction” means a transaction in which the Company (i) issues or sells any debt or equity securities that are
convertible into, exchangeable or exercisable for, or include the right to receive, additional shares of Common Stock either (A)
at a conversion price, exercise price or exchange rate or other price that is based upon, and/or varies with, the trading prices
of or quotations for the Common Stock at any time after the initial issuance of such debt or equity securities or (B) with a conversion,
exercise or exchange price that is subject to being reset at some future date after the initial issuance of such debt or equity
security or upon the occurrence of specified or contingent events directly or indirectly related to the business of the Company
or the market for the Common Stock or (ii) enters into any agreement, including, but not limited to, an equity line of credit,
whereby the Company may issue securities at a future determined price.

 

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

 

11.           Miscellaneous.

 

(a)          Registration
Rights. The Holder shall have such registration rights as set forth in Section 3 of the Agreement.

 

    16 

     

    

 

(b)          This Warrant
and disputes arising hereunder shall be governed by and construed and enforced in accordance with the laws of the State of Delaware
applicable to agreements made and to be performed wholly within such State, without regard to its conflict of law rules. Any action
brought by either party against the other concerning the transaction contemplated by this Warrant shall be brought only in the
state courts of Delaware or in the federal courts located in the state of Delaware. The parties to this Warrant hereby irrevocably
waive any objection to jurisdiction and venue of any action instituted hereunder and shall not assert any defense based on lack
of jurisdiction or venue or based upon forum non conveniens. The Company and Holder waive trial by jury.

 

(c)          The headings
in this Warrant are for purposes of reference only, and shall not limit or otherwise affect any of the terms hereof.

 

(d)          The covenants
of the respective parties contained herein shall survive the execution and delivery of this Warrant.

 

(e)          The terms of
this Warrant shall be binding upon and shall inure to the benefit of any successors or permitted assigns of the Company and of
the Holder and of the Warrant Shares issued or issuable upon the exercise hereof. The Holder may assign any or all of its rights
under the Agreement to any person to whom the Holder assigns or transfers the Warrant.

 

(f)          This Warrant
and the other documents delivered pursuant hereto constitute the full and entire understanding and agreement between the parties
with regard to the subject hereof.

 

(g)          The Company
shall not, by amendment of its Certificate of Incorporation or Bylaws, or through any other means, directly or indirectly, avoid
or seek to avoid the observance or performance of any of the terms of this Warrant and shall at all times in good faith assist
in the carrying out of all such terms and in the taking of all such action as may be necessary or appropriate in order to protect
the rights of the Holder contained herein against impairment.

 

(h)          Upon receipt
of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant and, in the case
of any such loss, theft or destruction, upon delivery of an indemnity agreement reasonably satisfactory in form and amount to the
Company, or, in the case of any such mutilation, upon surrender and cancellation of such Warrant, the Company, at its expense,
will execute and deliver to the Holder, in lieu thereof, a new Warrant of like date and tenor.

 

(i)          This Warrant
and any provision hereof may be amended, waived or terminated only by an instrument in writing signed by the Company and the Holder.

 

    17 

     

    

 

 

(j)          The remedies
provided in this Warrant shall be cumulative and in addition to all other remedies available under this Warrant, at law or in equity
(including a decree of specific performance and/or other injunctive relief), and nothing herein shall limit the right of the Holder
to pursue actual damages for any failure by the Company to comply with the terms of this Warrant. The Company acknowledges that
a breach by it of its obligations hereunder will cause irreparable harm to the Holder and that the remedy at law for any such breach
may be inadequate. The Company therefore agrees that, in the event of any such breach or threatened breach, the holder of this
Warrant shall be entitled, in addition to all other available remedies, to an injunction restraining any breach, without the necessity
of showing economic loss and without any bond or other security being required.

  

 

 

 

[Signature Page Follows]

 

 

 

 

 

 

 

 

 

 

 

 

    18 

     

    

 

 

 

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

 

 

	 	DARIO HEALTH CORP.	 
	 	 	 	 
	 	 	 	 
	 	By: 	 	 
	 	 	Name: 	 
	 	 	Title:   	 

 

 

 

 

    19 

     

    

  

Exhibit A

 

NOTICE OF EXERCISE

 

	 	TO:	DarioHealth Corp., attention: President

 

The undersigned hereby
elects to purchase the below referenced shares (the “Warrant Shares”) of Common Stock of DarioHealth Corp. (the
“Company”) pursuant to the terms of the attached Warrant, and tenders herewith payment of the purchase price
of such Warrant Shares in full. Payment of the purchase price is being made by:

 

	 	____________	 a cash exercise with respect to _________________ Warrant Shares; or

 

	 	____________	 a "cashless exercise" with respect to _______________ Warrant Shares
	 	 	 (if permitted pursuant to Section 2(b) of the Warrant).

 

Please issue a certificate
or certificates representing said shares in the name of the undersigned or in such other name as is specified below:

 

	 	1.	Name: __________________________________________________

 

	 	2.	Address: ________________________________________________

 

	 	3.	
        DWAC Instructions (if applicable):

         

        ___________________________________________

	 	 	/

 

The undersigned
hereby represents and warrants the following:

 

(a)            It
(i) has such knowledge and experience in financial and business affairs that he/she/it is capable of evaluating the merits and
risks involved in purchasing the Warrant Shares, (ii) is able to bear the economic risks involved in purchasing the Warrant Shares,
and (iii) is a “non-US person” as defined in Regulation S promulgated under the Securities Act of 1933, as amended;

 

(b)           In
making the decision to purchase the Warrant Shares, it has relied solely on independent investigations made by it and has had the
opportunity to ask questions of, and receive answers from, the Company concerning the Warrant Shares, the financial condition,
prospective business and operations of the Company and has otherwise had an opportunity to obtain any additional information, to
the extent that the Company possess such information or could acquire it without unreasonable effort or expense;

 

(c)            Its
overall commitment to investments that are not readily marketable is not disproportionate to its net worth and income, and the
purchase of the Warrant Shares will not cause such overall commitment to become disproportionate; it can afford to bear the loss
of the purchase price of the Warrant Shares;

 

 

    20 

     

    

 

(d)           It
has no present need for liquidity in its investment in the Warrant Shares; and

 

(e)           It
acknowledges that the transaction contemplated in connection with the purchase of the Warrant Shares has not been reviewed or approved
by the Securities and Exchange Commission or by any administrative agency charged with the administration of the securities laws
of any state, and that no such agency has passed on or made any recommendation or endorsement of any of the securities contemplated
hereby.

 

 

	 	 	 
	 	 (Signature and Date) 	 

 

 

 

    21

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