Document:

NOTE
PURCHASE AGREEMENT

 

Dated
as of July 5, 2019

 

This
Note Purchase Agreement (the “Agreement”), dated as of the date first set forth above (the “Closing Date”)
is entered into by and between Greenfield Farms Food, Inc., a Nevada (the “Company”) and More Capital, LLC, a Minnesota
limited liability company (“Buyer”).

 

WHEREAS,
the Company and the Buyer are executing and delivering this Agreement in reliance upon the exemption from securities registration
afforded by Section 4(a)(2) of the Securities Act of 1933, as amended (the “1933 Act”) and Rule 506(b) promulgated
by the United States Securities and Exchange Commission (the “SEC”) under the 1933 Act;

 

WHEREAS,
the Company desires to issue and sell to the Buyer, upon the terms and conditions set forth in this Agreement, a Convertible Promissory
Note, in the form attached hereto as Exhibit A, in the aggregate principal amount of $215,000 (together with any note(s) issued
in replacement thereof or as a dividend thereon or otherwise with respect thereto in accordance with the terms thereof, the “Note”),
convertible into shares of common stock, par value $0.001 per share, of the Company; and

 

WHEREAS,
the Buyer wishes to purchase, upon the terms and conditions stated in this Agreement, the Note as set forth herein;

 

NOW
THEREFORE, in consideration of the foregoing and of the agreements and covenants herein contained, and for other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the Company and the Buyer hereby agree as follows:

 

	 	1.	Purchase
    and Sale of Note

 

	 	(a)	Purchase
    of Note. On the Closing Date, the Company shall issue and sell to the Buyer and the Buyer agree to purchase the Note from
    the Company in the amount as is set forth immediately below the Buyer name on the signature pages hereto.
	 	 	 
	 	(b)	Form
    of Payment. On the Closing Date, (i) the Buyer shall pay $215,000 (the “Purchase Price”) by wire transfer
    of immediately available funds to the Company, in accordance with the Company’s written wiring instructions, against
    delivery of the Note in the principal amount equal to the Purchase Price, and (ii) the Company shall deliver such duly executed
    Note on behalf of the Company, to the Buyer, against delivery of such Purchase Price.
	 	 	 
	 	(c)	Closing
    Date. The closing of the transactions set forth herein (the “Closing”) shall occur on the Closing Date at
    such location as may be agreed to by the parties.

 

    	 	1	 

    	 	 	 

    

 

	 	(d)	Use
    of Proceeds: The Company covenants and agrees that it shall utilize the Purchase Price as follows:

 

	 	(i)	First,
    $15,000 of disbursements as set forth in the Note, which amount shall be disbursed on the Closing Date; and
	 	 	 
	 	(ii)	Second,
    for general corporate purposes.

 

	 	2.	Buyer’s
    Representations and Warranties. Buyer represents and warrants to the Company that:

 

	 	(a)	Corporate
    Existence and Power. Buyer is a limited liability company, duly organized and validly existing under the Laws of the State
    of Minnesota, and has the limited liability company power and is duly authorized under all applicable laws, regulations, ordinances,
    and orders of public authorities to carry on its business in all material respects as it is now being conducted.
	 	 	 
	 	(b)	No
    Conflict; Due Authorization. The execution, delivery and performance of this Agreement and all agreements and other documents
    executed by the Buyer in connection herewith does not, and the consummation of the transactions contemplated hereby will not,
    violate any provision of the Buyer’s organizational documents or applicable law. Buyer has taken all actions required
    by law, its organizational documents or otherwise to authorize the execution, delivery and performance of this Agreement and
    to consummate the transactions herein contemplated.
	 	 	 
	 	(c)	Valid
    Obligation. This Agreement and all agreements and other documents executed by the Buyer in connection herewith constitute
    the valid and binding obligations of the Buyer, enforceable in accordance with its or their terms, except as may be limited
    by applicable bankruptcy, insolvency, moratorium or other similar Laws affecting the enforcement of creditors’ rights
    generally and subject to the qualification that the availability of equitable remedies is subject to the discretion of the
    court before which any proceeding therefore may be brought (the “Enforceability Exceptions”).
	 	 	 
	 	(d)	Investment
    Purpose. Buyer is purchasing the Note for its own account and not with a present view towards the public sale or distribution
    thereof, except pursuant to sales registered or exempted from registration under the 1933 Act; provided, however, that by
    making the representations herein, Buyer does not agree to hold any of the Note for any minimum or other specific term and
    reserves the right to dispose of the Note at any time in accordance with or pursuant to a registration statement or an exemption
    under the 1933 Act.
	 	 	 
	 	(e)	Accredited
    Investor Status. Buyer is an “accredited investor” as that term is defined in Rule 501(a) of Regulation D
    (an “Accredited Investor”).

 

    	 	2	 

    	 	 	 

    

 

	 	3.	Representations
    and Warranties of the Company. The Company represents and warrants to Buyer that:

 

	 	(a)	Corporate
    Existence and Power. The Company is a corporation, duly organized and validly existing under the laws of the State of
    Nevada, and has the corporate power and is duly authorized under all applicable laws, regulations, ordinances, and orders
    of public authorities to carry on its business in all material respects as it is now being conducted.
	 	 	 
	 	(b)	No
    Conflict; Due Authorization. The execution, delivery and performance of this Agreement and the Note and all agreements
    and other documents executed by the Buyer in connection herewith or therewith does not, and the consummation of the transactions
    contemplated hereby will not, violate any provision of the Buyer’s organizational documents or applicable law. Buyer
    has taken all actions required by law, its organizational documents or otherwise to authorize the execution, delivery and
    performance of this Agreement and the Note and to consummate the transactions contemplated herein and therein.
	 	 	 
	 	(c)	Valid
    Obligation. This Agreement and the Note and all agreements and other documents executed by the Buyer in connection herewith
    constitute the valid and binding obligations of the Buyer, enforceable in accordance with its or their terms, except as may
    be limited by the Enforceability Exceptions. The execution and delivery of this Agreement and the Note by the Company and
    the consummation by it of the transactions contemplated hereby and thereby have been duly authorized by the Company’s
    Board of Directors and no further consent or authorization of the Company, its Board of Directors, or its shareholders is
    required.
	 	 	 
	 	(d)	No
    Conflicts. The execution, delivery and performance of this Agreement, the Note by the Company and the consummation by
    the Company of the transactions contemplated hereby and thereby will not (i) conflict with or result in a violation of any
    provision of the Certificate of Incorporation or By-laws, or (ii) violate or conflict with, or result in a breach of any provision
    of, or constitute a default (or an event which with notice or lapse of time or both could become a default) under, or give
    to others any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture, patent, patent
    license or instrument to which the Company is a party, or (iii) result in a violation of any law, rule, regulation, order,
    judgment or decree (including federal and state securities laws and regulations and regulations of any self-regulatory organizations
    to which the Company or its securities are subject) applicable to the Company or by which any property or asset of the Company
    is bound or affected.
	 	 	 
	 	(e)	Acknowledgment
                                         Regarding Buyer’s Purchase of Note. The Company acknowledges and agrees that
                                         Buyer is acting solely in the capacity of arm’s length purchaser with respect to
                                         this Agreement and the transactions contemplated hereby. The Company further acknowledges
                                         that Buyer is not acting as a financial advisor or fiduciary of the Company (or in any
                                         similar capacity) with respect to this Agreement and the transactions contemplated hereby
                                         and any statement made by Buyer or any of its respective representatives or agents in
                                         connection with this Agreement and the transactions contemplated hereby is not advice
                                         or a recommendation and is merely incidental to Buyer’s purchase of the Note. The
                                         Company further represents to Buyer that the Company’s decision to enter into this
                                         Agreement has been based solely on the independent evaluation of the Company and its
                                         representatives.

        

 

    	 	3	 

    	 	 	 

    

 

	 	(f)	No
    Disqualification Events. None of the Company, any of its predecessors, any Affiliated (as defined below) issuer, any director,
    executive officer, other officer of the Company participating in the offering hereunder, any beneficial owner of 20% or more
    of the Company’s outstanding voting equity securities, calculated on the basis of voting power, nor any promoter (as
    that term is defined in Rule 405 under the 1933 Act) connected with the Company in any capacity at the time of sale (each,
    an “Issuer Covered Person”) is subject to any of the “Bad Actor” disqualifications described in Rule
    506(d)(1)(i) to (viii) under the 1933 Act (a “Disqualification Event”), except for a Disqualification Event covered
    by Rule 506(d)(2) or (d)(3). The Company has exercised reasonable care to determine whether any Issuer Covered Person is subject
    to a Disqualification Event. For purposes hereof, an “Affiliate” means, with respect to any person or entity,
    any other person or entity that directly, or indirectly through one or more intermediaries, controls, or is controlled by,
    or is under common control with, such person or entity. For the purposes of this definition, the term “controls,”
    “is controlled by” or “under common control with” means, with respect to any person or entity, the
    possession, directly or indirectly, of the power to direct or cause the direction of the management policies of such person
    or entity, whether through the ownership of voting securities, by contract or otherwise.
	 	 	 
	 	(g)	Breach
    of Representations and Warranties by the Company. The Company agrees that if the Company breaches any of the representations
    or warranties set forth in this Section 3 and in addition to any other remedies available to Buyer pursuant to this Agreement,
    it will be considered an Event of Default under the Note.

 

	 	4.	COVENANTS.

 

	 	(a)	Corporate
    Existence. The Company will, so long as Buyer beneficially owns any the Note, maintain its corporate existence and shall
    not sell all or substantially all of the Company’s assets, except in the event of a merger or consolidation or sale
    of all or substantially all of the Company’s assets, where the surviving or successor entity in such transaction assumes
    the Company’s obligations hereunder and under the agreements and instruments entered into in connection herewith.

 

    	 	4	 

    	 	 	 

    

 

	 	(b)	Breach
    of Covenants. If the Company breaches any of the covenants set forth in this Section 4, in addition to any other remedies
    available to Buyer pursuant to this Agreement, it will be considered an Event of Default under the Note.

 

	 	5.	Governing
    Law; Miscellaneous.

 

	 	(a)	Governing
    Law; Etc. Except in the case of the mandatory forum selection provisions below, which shall be governed and interpreted
    in accordance with Minnesota law, this Agreement shall be governed by and construed in accordance with the laws of the State
    of Nevada without regard to principles of conflicts of laws. Any action brought by either party against the other concerning
    the transactions contemplated by this Agreement shall be brought only in the state courts or federal courts located in the
    state of Minnesota, County of Hennepin. The parties to this Agreement 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. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST,
    A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION
    CONTEMPLATED HEREBY. The prevailing party shall be entitled to recover from the other party its reasonable attorney’s
    fees and costs. In the event that any provision of this Agreement or any other agreement delivered in connection herewith
    is invalid or unenforceable under any applicable statute or rule of law, then such provision shall be deemed inoperative to
    the extent that it may conflict therewith and shall be deemed modified to conform with such statute or rule of law. Any such
    provision which may prove invalid or unenforceable under any law shall not affect the validity or enforceability of any other
    provision of this Agreement, the Note or any other agreement, certificate, instrument or document contemplated hereby or thereby.
    Each party hereby irrevocably waives personal service of process and consents to process being served in any suit, action
    or proceeding in connection with this Agreement, the Note or any other agreement, certificate, instrument or document contemplated
    hereby or thereby 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.
	 	 	 
	 	(b)	Construction;
    Headings. This Agreement shall be deemed to be jointly drafted by the Company and Buyer and shall not be construed against
    any person as the drafter hereof. The headings of this Agreement are for convenience of reference only and shall not form
    part of, or affect the interpretation of, this Agreement.

 

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	 	(c)	Severability.
    In the event that any provision of this Agreement is invalid or unenforceable under any applicable statute or rule of
    law, then such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified
    to conform with such statute or rule of law. Any provision hereof which may prove invalid or unenforceable under any law shall
    not affect the validity or enforceability of any other provision hereof.
	 	 	 
	 	(d)	Entire
    Agreement; Amendments. This Agreement, the Note and the instruments referenced herein contain the entire understanding
    of the parties with respect to the matters covered herein and therein and, except as specifically set forth herein or therein,
    neither the Company nor Buyer makes any representation, warranty, covenant or undertaking with respect to such matters. No
    provision of this Agreement may be waived or amended other than by an instrument in writing signed by the majority in interest
    of Buyer.
	 	 	 
	 	(e)	Notices.
    All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder shall be
    in writing and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered
    or certified, return receipt requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid,
    or (iv) transmitted by hand delivery, telegram, e-mail with return receipt requested or facsimile, addressed as set forth
    below or to such other address as such party shall have specified most recently by written notice. Any notice or other communication
    required or permitted to be given hereunder shall be deemed effective (a) upon hand delivery or delivery by e-mail with return
    receipt requested or facsimile, with accurate confirmation generated by the transmitting facsimile machine or computer, at
    the address or number designated below (if delivered on a business day during normal business hours where such notice is to
    be received), or the first business day following such delivery (if delivered other than on a business day during normal business
    hours where such notice is to be received) or (b) on the second business day following the date of mailing by express courier
    service, fully prepaid, addressed to such address, or upon actual receipt of such mailing, whichever shall first occur. The
    addresses for such communications shall be:

 

If
to the Company, to:

 

Greenfield
Farms Food, Inc.

Attn:
Chief Executive Officer

5430
LBJ Freeway, Suite 1200

Dallas,
Texas 75240

Email:
cliff.rhee@ngen-tech.com

 

If
to the Buyer:

 

More
Capital, LLC

Attn:
Mike Wruck

8995
Goldenrod Lane N Maple Grove, MN, 55369

Email:
mikewruck@morecapitalllc.com

 

    	 	6	 

    	 	 	 

    

 

	 	(f)	Successors
    and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and assigns.
    Neither the Company nor the Buyer shall assign this Agreement or any rights or obligations hereunder without the prior written
    consent of the other.
	 	 	 
	 	(g)	Third
    Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective permitted successors
    and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other person.
	 	 	 
	 	(h)	Survival.
    The representations and warranties of the Company and the agreements and covenants set forth in this Agreement shall survive
    the Closing hereunder notwithstanding any due diligence investigation conducted by or on behalf of the Buyer. The Company
    agrees to indemnify and hold harmless Buyer and all their officers, directors, employees and agents for loss or damage arising
    as a result of or related to any breach or alleged breach by the Company of any of its representations, warranties and covenants
    set forth in this Agreement or any of its covenants and obligations in the Note, including advancement of expenses as they
    are incurred.
	 	 	 
	 	(i)	Further
    Assurances. Each party shall do and perform, or cause to be done and performed, all such further acts and things, and
    shall execute and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably
    request in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions
    contemplated hereby.
	 	 	 
	 	(j)	No
    Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to express
    their mutual intent, and no rules of strict construction will be applied against any party.

 

    	 	7	 

    	 	 	 

    

 

	 	(k)	Indemnification.
    In consideration of Buyer’s execution and delivery of this Agreement and acquiring the Note hereunder, and in
    addition to all of the Company’s other obligations under this Agreement or the Note, the Company shall defend, protect,
    indemnify and hold harmless Buyer and its members, partners, officers, managers, employees and direct or indirect investors
    and any of the foregoing persons’ agents or other representatives (including, without limitation, those retained in
    connection with the transactions contemplated by this Agreement) (collectively, the “Indemnitees”) from and against
    any and all actions, causes of action, suits, claims, losses, costs, penalties, fees, liabilities and damages, and expenses
    in connection therewith (irrespective of whether any such Indemnitee is a party to the action for which indemnification hereunder
    is sought), and including reasonable attorneys’ fees and disbursements (the “Indemnified Liabilities”),
    incurred by any Indemnitee as a result of, or arising out of, or relating to (a) any misrepresentation or breach of any representation
    or warranty made by the Company in this Agreement, the Note or any other agreement, certificate, instrument or document contemplated
    hereby or thereby, (b) any breach of any covenant, agreement or obligation of the Company contained in this Agreement, the
    Note or any other agreement, certificate, instrument or document contemplated hereby or thereby or (c) any cause of action,
    suit or claim brought or made against such Indemnitee by a third party (including for these purposes a derivative action brought
    on behalf of the Company) and arising out of or resulting from (i) the execution, delivery, performance or enforcement of
    this Agreement, the Note or any other agreement, certificate, instrument or document contemplated hereby or thereby, (ii)
    any transaction financed or to be financed in whole or in part, directly or indirectly, with the proceeds of the issuance
    of the Note, or (iii) the status of Buyer or holder of the Note as an investor in the Company pursuant to the transactions
    contemplated by this Agreement and the Note. To the extent that the foregoing undertaking by the Company may be unenforceable
    for any reason, the Company shall make the maximum contribution to the payment and satisfaction of each of the Indemnified
    Liabilities that is permissible under applicable law.
	 	 	 
	 	(l)	Remedies.
    The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to Buyer by vitiating
    the intent and purpose of the transaction contemplated hereby. Accordingly, the Company acknowledges that the remedy at law
    for a breach of its obligations under this Agreement or the Note will be inadequate and agrees, in the event of a breach or
    threatened breach by the Company of the provisions of this Agreement or the Note, that Buyer shall be entitled, in addition
    to all other available remedies at law or in equity, and in addition to the penalties assessable herein, to an injunction
    or injunctions restraining, preventing or curing any breach of this Agreement and the Note and to enforce specifically the
    terms and provisions hereof, without the necessity of showing economic loss and without any bond or other security being required.
	 	 	 
	 	(m)	Payment
    Set Aside. To the extent that the Company makes a payment or payments to Buyer hereunder or pursuant to the Note or Buyer
    enforces or exercises its rights hereunder or thereunder, and such payment or payments or the proceeds of such enforcement
    or exercise or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside, recovered
    from, disgorged by or are required to be refunded, repaid or otherwise restored to the Company, a trustee, receiver or any
    other person or entity under any law (including, without limitation, any bankruptcy law, foreign, state or federal law, common
    law or equitable cause of action), then to the extent of any such restoration the obligation or part thereof originally intended
    to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such enforcement
    or setoff had not occurred.

 

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	 	(n)	Failure
    or Indulgence Not Waiver. No failure or delay on the part of Buyer in the exercise of any power, right or privilege hereunder
    shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege preclude
    other or further exercise thereof or of any other right, power or privileges. All rights and remedies of Buyer existing hereunder
    are cumulative to, and not exclusive of, any rights or remedies otherwise available.
	 	 	 
	 	(o)	Independent
    Nature of Buyer’s Rights. Nothing contained herein or in any other document related to the transactions set forth
    in this Agreement, and no action taken by any Buyer pursuant hereto or thereto, shall be deemed to constitute Buyer as a partnership,
    an association, a joint venture or any other kind of entity, or create a presumption that Buyer are in any way acting in concert
    or as a group with respect to such obligations or the transactions contemplated by the Agreement or the Note. Buyer shall
    be entitled to independently protect and enforce its rights, including, without limitation, the rights arising out of this
    Agreement or out of the other Agreement or the Note, and it shall not be necessary for any other Buyer to be joined as an
    additional party in any proceeding for such purpose.
	 	 	 
	 	(p)	Counterparts.
    This Agreement may be executed in one or more counterparts, each of which shall be deemed an original but all of which
    shall constitute one and the same agreement and shall become effective when counterparts have been signed by each party and
    delivered to the other party. A facsimile or .pdf signature shall be considered due execution and shall be binding upon the
    signatory thereto with the same force and effect as if the signature were an original, not a facsimile or .pdf signature.
    Delivery of a counterpart signature hereto by facsimile or email/.pdf transmission shall be deemed validly delivery thereof.

 

[Signature
Page Follows]

 

    	 	9	 

    	 	 	 

    

 

IN
WITNESS WHEREOF, the undersigned Buyer and the Company have caused this Agreement to be duly executed as of the Closing Date.

 

	 	Greenfield Farms Food, Inc.
	 	 	 
	 	By:	/s/
    Clifford Rhee
	 	Name:	Clifford
    Rhee
	 	Title:	Chief
    Executive Officer
	 	 	 
	 	More Capital, LLC
	 	 	 
	 	By:	/s/
    Mike Wruck
	 	Name:	Mike
    Wruck
	 	Title:	CEO

 

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Exhibit
A

Convertible
Promissory Note

 

(Attached)

 

    	 	11Execution
Version

 

PURCHASE
AGREEMENT

 

THIS
PURCHASE AGREEMENT (the “Agreement”), dated as of September 26, 2019, by and between THE PECK COMPANY
HOLDINGS, INC., a Delaware corporation (the “Company”), and LINCOLN PARK CAPITAL FUND, LLC,
an Illinois limited liability company (the “Investor”).

 

WHEREAS:

 

Subject
to the terms and conditions set forth in this Agreement, the Company wishes to sell to the Investor, and the Investor wishes to
purchase from the Company, up to Fifteen Million Dollars ($15,000,000) of the Company’s common stock, par value $0.0001
per share (the “Common Stock”). The shares of Common Stock to be purchased hereunder are referred to herein
as the “Purchase Shares.”

 

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 hereby agree as follows:

 

	1.	CERTAIN
    DEFINITIONS. 

 

For
purposes of this Agreement, the following terms shall have the following meanings:

 

(a)
“Accelerated Purchase Date” means, with respect to any Accelerated Purchase made pursuant to Section 2(b)
hereof, the Business Day immediately following the applicable Purchase Date with respect to the corresponding Regular Purchase
referred to in Section 2(b) hereof.

 

(b)
“Accelerated Purchase Floor Price” means $1.00, which shall be appropriately adjusted for any reorganization,
recapitalization, non-cash dividend, stock split or other similar transaction and, effective upon the consummation of any such
reorganization, recapitalization, non-cash dividend, stock split or other similar transaction, the Accelerated Purchase Floor
Price shall mean the lower of (i) the adjusted price and (ii) $1.00.

 

(c)
“Accelerated Purchase Minimum Price Threshold” means, with respect to any Accelerated Purchase made pursuant
to Section 2(b) hereof, any minimum per share price threshold set forth in the applicable Accelerated Purchase Notice.

 

(d)
“Accelerated Purchase Notice” means, with respect to any Accelerated Purchase made pursuant to Section 2(b)
hereof, an irrevocable written notice from the Company to the Investor directing the Investor to purchase a specified Accelerated
Purchase Share Amount on the applicable Accelerated Purchase Date pursuant to Section 2(b) hereof at the applicable
Accelerated Purchase Price.

 

(e)
“Accelerated Purchase Price” means, with respect to any particular Accelerated Purchase made pursuant to Section
2(b) hereof, the lower of (i) ninety-four percent (94%) of the VWAP for the period beginning at 9:30:01 a.m., Eastern
time, on the applicable Accelerated Purchase Date, or such other time publicly announced by the Principal Market as the official
open (or commencement) of trading on the Principal Market on such applicable Accelerated Purchase Date (the “Accelerated
Purchase Commencement Time”), and ending at the earliest of (A) 4:00:00 p.m., Eastern time, on such applicable Accelerated
Purchase Date, or such other time publicly announced by Principal Market as the official close of trading on the Principal Market
on such applicable Accelerated Purchase Date, (B) such time, from and after the Accelerated Purchase Commencement Time for such
Accelerated Purchase, that total number (or volume) of shares of Common Stock traded on the Principal Market has exceeded the
applicable Accelerated Purchase Share Volume Maximum, and (C) such time, from and after the Accelerated Purchase Commencement
Time for such Accelerated Purchase, that the Sale Price has fallen below the applicable Accelerated Purchase Minimum Price Threshold
(such earliest of (i)(A), (i)(B) and (i)(C) above, the “Accelerated Purchase Termination Time”), and (ii) the
Closing Sale Price of the Common Stock on such applicable Accelerated Purchase Date (each to be appropriately adjusted for any
reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction).

 

    	 	 	 

    	 	 	 

    

 

(f)
“Accelerated Purchase Share Amount” means, with respect to an Accelerated Purchase made pursuant to Section
2(b) hereof, the number of Purchase Shares directed by the Company to be purchased by the Investor in such Accelerated Purchase
Notice, which number of Purchase Shares shall not exceed the lesser of (i) 200% of the number of Purchase Shares directed by the
Company to be purchased by the Investor pursuant to the corresponding Regular Purchase Notice for the corresponding Regular Purchase
referred to in clause (i) of the second sentence of Section 2(b) hereof (subject to the Purchase Share limitations contained
in Section 2(a) hereof) and (ii) an amount equal to (A) the Accelerated Purchase Share Percentage multiplied by (B) the
total number (or volume) of shares of Common Stock traded on the Principal Market during the period on the applicable Accelerated
Purchase Date beginning at the Accelerated Purchase Commencement Time for such Accelerated Purchase and ending at the Accelerated
Purchase Termination Time for such Accelerated Purchase.

 

(g)
“Accelerated Purchase Share Percentage” means, with respect to any Accelerated Purchase made pursuant to Section
2(b) hereof, twenty percent (20%).

 

(h)
“Accelerated Purchase Share Volume Maximum” means, with respect to an Accelerated Purchase made pursuant to
Section 2(b) hereof, a number of shares of Common Stock equal to (i) the applicable Accelerated Purchase Share Amount to
be purchased by the Investor pursuant to the applicable Accelerated Purchase Notice for such Accelerated Purchase, divided by
(ii) the Accelerated Purchase Share Percentage (to be appropriately adjusted for any reorganization, recapitalization, non-cash
dividend, stock split, reverse stock split or other similar transaction).

 

(i)
 “Additional Accelerated Purchase Date” means, with respect to an Additional Accelerated Purchase made pursuant
to Section 2(c) hereof, the Business Day (i) that is the Accelerated Purchase Date with respect to the corresponding Accelerated
Purchase referred to in Section 2(b) hereof and (ii) on which the Investor receives, prior to 1:00 p.m., Eastern time,
on such Business Day, a valid Additional Accelerated Purchase Notice for such Additional Accelerated Purchase in accordance with
this Agreement.

 

(j)
“Additional Accelerated Purchase Floor Price” means $1.00, which shall be appropriately adjusted for any reorganization,
recapitalization, non-cash dividend, stock split or other similar transaction and, effective upon the consummation of any such
reorganization, recapitalization, non-cash dividend, stock split or other similar transaction, the Additional Accelerated Purchase
Floor Price shall mean the lower of (i) the adjusted price and (ii) $1.00.

 

(k)
 “Additional Accelerated Purchase Minimum Price Threshold” means, with respect to an Additional Accelerated
Purchase made pursuant to Section 2(c) hereof, any minimum per share price threshold set forth in the applicable Additional
Accelerated Purchase Notice.

 

(l)
“Additional Accelerated Purchase Notice” means, with respect to an Additional Accelerated Purchase made pursuant
to Section 2(c) hereof, an irrevocable written notice from the Company to the Investor directing the Investor to purchase
the applicable Additional Accelerated Purchase Share Amount at the Additional Accelerated Purchase Price for such Additional Accelerated
Purchase in accordance with this Agreement.

 

    	 	2	 

    	 	 	 

    

 

(m)
“Additional Accelerated Purchase Price” means, with respect to an Additional Accelerated Purchase made pursuant
to Section 2(c) hereof, the lower of (i) ninety-four percent (94%) of the VWAP for the period on the applicable Additional
Accelerated Purchase Date, beginning at the latest of (A) the applicable Accelerated Purchase Termination Time with respect to
the corresponding Accelerated Purchase referred to in Section 2(b) hereof on such Additional Accelerated Purchase Date,
(B) the applicable Additional Accelerated Purchase Termination Time with respect to the most recently completed prior Additional
Accelerated Purchase on such Additional Accelerated Purchase Date, as applicable, and (C) the time at which all Purchase Shares
subject to all prior Accelerated Purchases and Additional Accelerated Purchases (as applicable), including, without limitation,
those that have been effected on the same Business Day as the applicable Additional Accelerated Purchase Date with respect to
which the applicable Additional Accelerated Purchase relates, and have theretofore been received by the Investor as DWAC Shares
in accordance with this Agreement (such latest of (i)(A), (i)(B) and (i)(C) above, the “Additional Accelerated Purchase
Commencement Time”), and ending at the earliest of (X) 4:00 p.m., Eastern time, on such Additional Accelerated Purchase
Date, or such other time publicly announced by Principal Market as the official close of trading on the Principal Market on such
Additional Accelerated Purchase Date, (Y) such time, from and after the Additional Accelerated Purchase Commencement Time for
such Additional Accelerated Purchase, that total number (or volume) of shares of Common Stock traded on the Principal Market has
exceeded the applicable Additional Accelerated Purchase Share Volume Maximum, and (Z) such time, from and after the Additional
Accelerated Purchase Commencement Time for such Additional Accelerated Purchase, that the Sale Price has fallen below the applicable
Additional Accelerated Purchase Minimum Price Threshold (if any) (such earliest of (i)(X), (i)(Y) and (i)(Z) above, the “Additional
Accelerated Purchase Termination Time”), and (ii) the Closing Sale Price of the Common Stock on such Additional Accelerated
Purchase Date (each to be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse
stock split or other similar transaction).

 

(n)
“Additional Accelerated Purchase Share Amount” means, with respect to an Additional Accelerated Purchase made
pursuant to Section 2(c) hereof, the number of Purchase Shares directed by the Company to be purchased by the Investor
on an Additional Accelerated Purchase Notice, which number of Purchase Shares shall not exceed the lesser of (i) 300% of the number
of Purchase Shares directed by the Company to be purchased by the Investor pursuant to the corresponding Regular Purchase Notice
for the corresponding Regular Purchase referred to in clause (i) of the second sentence of Section 2(c) hereof (subject
to the Purchase Share limitations contained in Section 2(a) hereof) and (ii) an amount equal to (A) the Additional Accelerated
Purchase Share Percentage multiplied by (B) the total number (or volume) of shares of Common Stock traded on the Principal Market
during the period on the applicable Additional Accelerated Purchase Date beginning at the Additional Accelerated Purchase Commencement
Time for such Additional Accelerated Purchase and ending at the Additional Accelerated Purchase Termination Time for such Additional
Accelerated Purchase.

 

(o)
“Additional Accelerated Purchase Share Percentage” means, with respect to an Additional Accelerated Purchase
made pursuant to Section 2(c) hereof, twenty percent (20%).

 

(p)
“Additional Accelerated Purchase Share Volume Maximum” means, with respect to an Additional Accelerated Purchase
made pursuant to Section 2(c) hereof, a number of shares of Common Stock equal to (i) the applicable Additional Accelerated
Purchase Share Amount to be purchased by the Investor pursuant to the applicable Additional Accelerated Purchase Notice for such
Additional Accelerated Purchase, divided by (ii) the Additional Accelerated Purchase Share Percentage (to be appropriately adjusted
for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction).

 

    	 	3	 

    	 	 	 

    

 

(q)
“Alternate Adjusted Regular Purchase Share Limit” means, with respect to a Regular Purchase made pursuant to
Section 2(a) hereof, the maximum number of Purchase Shares which, taking into account the applicable per share Purchase
Price therefor calculated in accordance with this Agreement, would enable the Company to deliver to the Investor, on the applicable
Purchase Date for such Regular Purchase, a Regular Purchase Notice for a Purchase Amount equal to, or as closely approximating
without exceeding, One Hundred Thousand Dollars ($100,000).

 

(r)
“Available Amount” means, initially, Fifteen Million Dollars ($15,000,000) in the aggregate, which amount shall
be reduced by the Purchase Amount each time the Investor purchases shares of Common Stock pursuant to Section 2 hereof.

 

(s)
“Average Price” means a price per Purchase Share (rounded to the nearest tenth of a cent) equal to the quotient
obtained by dividing (i) the aggregate gross purchase price paid by the Investor for all Purchase Shares purchased pursuant to
this Agreement, by (ii) the aggregate number of Purchase Shares issued pursuant to this Agreement.

 

(t)
“Bankruptcy Law” means Title 11, U.S. Code, or any similar federal or state law for the relief of debtors.

 

(u)
“Base Price” means a price per Purchase Share equal to the sum of (i) the Signing Market Price and (ii) $0.6271
(subject to adjustment for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other
similar transaction that occurs on or after the date of this Agreement).

 

(v)
“Business Day” means any day on which the Principal Market is open for trading, including any day on which
the Principal Market is open for trading for a period of time less than the customary time.

 

(w)
“Closing Sale Price” means, for any security as of any date, the last closing sale price for such security
on the Principal Market as reported by the Principal Market.

 

(x)
“Confidential Information” means any information disclosed by either party to the other party, either directly
or indirectly, in writing, orally or by inspection of tangible objects (including, without limitation, documents, prototypes,
samples, plant and equipment), which is designated as “Confidential,” “Proprietary” or some similar designation.
Information communicated orally shall be considered Confidential Information if such information is confirmed in writing as being
Confidential Information within ten (10) Business Days after the initial disclosure. Confidential Information may also include
information disclosed to a disclosing party by third parties. Confidential Information shall not, however, include any information
which (i) was publicly known and made generally available in the public domain prior to the time of disclosure by the disclosing
party; (ii) becomes publicly known and made generally available after disclosure by the disclosing party to the receiving party
through no action or inaction of the receiving party; (iii) is already in the possession of the receiving party without confidential
restriction at the time of disclosure by the disclosing party as shown by the receiving party’s files and records immediately
prior to the time of disclosure; (iv) is obtained by the receiving party from a third party without a breach of such third party’s
obligations of confidentiality; (v) is independently developed by the receiving party without use of or reference to the disclosing
party’s Confidential Information, as shown by documents and other competent evidence in the receiving party’s possession;
or (vi) is required by law to be disclosed by the receiving party, provided that the receiving party gives the disclosing party
prompt written notice of such requirement prior to such disclosure and assistance in obtaining an order protecting the information
from public disclosure.

 

    	 	4	 

    	 	 	 

    

 

(y)
“Custodian” means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law.

 

(z)
“DTC” means The Depository Trust Company, or any successor performing substantially the same function for the
Company.

 

(aa)
“DWAC Shares” means shares of Common Stock that are (i) issued in electronic form, (ii) freely tradable and
transferable and without restriction on resale and (iii) timely credited by the Company to the Investor’s or its designee’s
specified Deposit/Withdrawal at Custodian (DWAC) account with DTC under its Fast Automated Securities Transfer (FAST) Program,
or any similar program hereafter adopted by DTC performing substantially the same function.

 

(bb)
“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated
thereunder.

 

(cc)
“Floor Price” means $1.00, which shall be appropriately adjusted for any reorganization, recapitalization,
non-cash dividend, stock split or other similar transaction and, effective upon the consummation of any such reorganization, recapitalization,
non-cash dividend, stock split or other similar transaction, the Floor Price shall mean the lower of (i) the adjusted price
and (ii) $1.00.

 

(dd)
“Fully Adjusted Regular Purchase Share Limit” means, with respect to any reorganization, recapitalization,
non-cash dividend, stock split or other similar transaction from and after the date of this Agreement, the Regular Purchase Share
Limit (as defined in Section 2(a) hereof) in effect on the applicable date of determination, after giving effect to the
full proportionate adjustment thereto made pursuant to Section 2(a) hereof for or in respect of such reorganization, recapitalization,
non-cash dividend, stock split or other similar transaction.

 

(ee)
“Material Adverse Effect” means any material adverse effect on (i) the enforceability of any Transaction Document,
(ii) the results of operations, assets, business or financial condition of the Company and its Subsidiaries, taken as a whole,
other than any material adverse effect that resulted exclusively from (A) any change in the United States or foreign economies
or securities or financial markets in general that does not have a disproportionate effect on the Company and its Subsidiaries,
taken as a whole, (B) any change that generally affects the industry in which the Company and its Subsidiaries operate that does
not have a disproportionate effect on the Company and its Subsidiaries, taken as a whole, (C) any change arising in connection
with earthquakes, hostilities, acts of war, sabotage or terrorism or military actions or any escalation or material worsening
of any such hostilities, acts of war, sabotage or terrorism or military actions existing as of the date hereof, (D) any action
taken by the Investor, its affiliates or its or their successors and assigns with respect to the transactions contemplated by
this Agreement, (E) the effect of any change in applicable laws or accounting rules that does not have a disproportionate effect
on the Company and its Subsidiaries, taken as a whole, or (F) any change resulting from compliance with terms of this Agreement
or the consummation of the transactions contemplated by this Agreement, or (iii) the Company’s ability to perform in any
material respect on a timely basis its obligations under any Transaction Document to be performed as of the date of determination.

 

(ff)
“Maturity Date” means the first day of the month immediately following the twenty-four (24) month anniversary
of the Commencement Date.

 

    	 	5	 

    	 	 	 

    

 

(gg)
“PEA Period” means the period commencing at 9:30 a.m., Eastern time, on the twentieth (20th) Business Day immediately
prior to the filing of any post-effective amendment to the Registration Statement (as defined herein) or New Registration Statement
(as such term is defined in the Registration Rights Agreement), and ending at 9:30 a.m., Eastern time, on the Business Day immediately
following, the effective date of any post-effective amendment to the Registration Statement (as defined in Section 5(a)
below) or New Registration Statement (as such term is defined in the Registration Rights Agreement).

 

(hh)
“Person” means an individual or entity including but not limited to any limited liability company, a partnership,
a joint venture, a corporation, a trust, an unincorporated organization and a government or any department or agency thereof.

 

(ii)
“Principal Market” means The Nasdaq Capital Market (or any nationally recognized successor thereto); provided,
however, that in the event the Company’s Common Stock is ever listed or traded on The Nasdaq Global Market, The Nasdaq Global
Select Market, the New York Stock Exchange, the NYSE American, the NYSE Arca, the OTC Bulletin Board, the OTCQX operated by the
OTC Markets Group, Inc. or the OTCQB operated by the OTC Markets Group, Inc. (or any nationally recognized successor to any of
the foregoing), then the “Principal Market” shall mean such other market or exchange on which the Company’s
Common Stock is then listed or traded.

 

(jj)
“Purchase Amount” means, with respect to any Regular Purchase, any Accelerated Purchase or any Additional Accelerated
Purchase made hereunder, the portion of the Available Amount to be purchased by the Investor pursuant to Section 2 hereof.

 

(kk)
“Purchase Date” means, with respect to any Regular Purchase made pursuant to Section 2(a) hereof,
the Business Day on which the Investor receives by 6:00 p.m., Eastern time, of such Business Day a valid Regular Purchase Notice
that the Investor is to purchase such applicable number of Purchase Shares pursuant to Section 2(a) hereof.

 

(ll)
“Purchase Price” means, with respect to any Regular Purchase made pursuant to Section 2(a) hereof,
the lower of: (i) the lowest Sale Price on the applicable Purchase Date and (ii) the arithmetic average of the three (3) lowest
Closing Sale Prices for the Common Stock during the ten (10) consecutive Business Days ending on the Business Day immediately
preceding such Purchase Date (in each case, to be appropriately adjusted for any reorganization, recapitalization, non-cash dividend,
stock split or other similar transaction that occurs on or after the date of this Agreement).

 

(mm)
“Registration Rights Agreement” means that certain Registration Rights Agreement, of even date herewith between
the Company and the Investor.

 

(nn)
“Regular Purchase Notice” means, with respect to any Regular Purchase pursuant to Section 2(a)
hereof, an irrevocable written notice from the Company to the Investor directing the Investor to purchase such applicable amount
of Purchase Shares at the applicable Purchase Price as specified by the Company therein on the applicable Purchase Date for such
Regular Purchase.

 

(oo)
“Sale Price” means any trade price for the shares of Common Stock on the Principal Market as reported by the
Principal Market.

 

(pp)
“SEC” means the U.S. Securities and Exchange Commission.

 

(qq)
“Securities” means, collectively, the Purchase Shares and the Commitment Shares (as defined in Section 5(f)
below).

 

(rr)
“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

    	 	6	 

    	 	 	 

    

 

(ss)
“Signing Market Price” means $4.96, representing the lower of (i) the Nasdaq Official Closing Price of the
Common Stock as reported on The Nasdaq Capital Market immediately preceding the date of this Agreement or (ii) the average of
the Nasdaq Official Closing Prices of the Common Stock as reported on The Nasdaq Capital Market for the five (5) Business Days
immediately preceding the signing of this Agreement.

 

(tt)
“Subsidiary” means any Person the Company wholly-owns or controls, or in which the Company, directly or indirectly,
owns a majority of the voting stock or similar voting interest, in each case that would be disclosable pursuant to Item 601(b)(21)
of Regulation S-K promulgated under the Securities Act.

 

(uu)
“Transaction Documents” means, collectively, this Agreement and the schedules and exhibits hereto, the Registration
Rights Agreement and the schedules and exhibits thereto, and each of the other agreements, documents, certificates and instruments
entered into or furnished by the parties hereto in connection with the transactions contemplated hereby and thereby.

 

(vv)
 “Transfer Agent” means Continental Stock Transfer & Trust, or such other Person who is then serving as
the transfer agent for the Company in respect of the Common Stock.

 

(ww)
“VWAP” means in respect of an applicable Accelerated Purchase Date and an Additional Accelerated Purchase Date,
as applicable, the volume weighted average price of the Common Stock on the Principal Market, as reported on the Principal Market
or by another reputable source such as Bloomberg, L.P.

 

	2.	PURCHASE
    OF COMMON STOCK. 

 

Subject
to the terms and conditions set forth in this Agreement, the Company has the right to sell to the Investor, and the Investor has
the obligation to purchase from the Company, Purchase Shares as follows:

 

(a)
Commencement of Regular Sales of Common Stock. Upon the satisfaction of the conditions set forth in Sections 7 and
8 hereof (the “Commencement” and the date of satisfaction of such conditions the “Commencement
Date”) and thereafter, the Company shall have the right, but not the obligation, to direct the Investor, by its delivery
to the Investor of a Regular Purchase Notice from time to time, to purchase up to Fifty Thousand (50,000) Purchase Shares, subject
to adjustment as set forth below in this Section 2(a) (such maximum number of Purchase Shares, as may be adjusted from
time to time, (the “Regular Purchase Share Limit”), at the Purchase Price on the Purchase Date, provided that
the Closing Sale Price of the Common Stock is not below the Floor Price on the Purchase Date (each such purchase, a “Regular
Purchase”); provided, however, that (i) the Regular Purchase Share Limit may be increased to up to Seventy-Five
Thousand (75,000) Purchase Shares, provided that the Closing Sale Price of the Common Stock is not below $10.00 on the Purchase
Date, and (ii) the Regular Purchase Share Limit may be increased to up to One Hundred Thousand (100,000) Purchase Shares, provided
that the Closing Sale Price of the Common Stock is not below $13.00 on the Purchase Date (all of which share and dollar amounts
shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split or other similar transaction);
provided that if, after giving effect to the full proportionate adjustment to the Regular Purchase Share Limit therefor,
the Fully Adjusted Regular Purchase Share Limit then in effect would preclude the Company from delivering to the Investor a Regular
Purchase Notice hereunder for a Purchase Amount (calculated by multiplying (X) the number of Purchase Shares equal to the Fully
Adjusted Regular Purchase Share Limit, by (Y) the Purchase Price per Purchase Share covered by such Regular Purchase Notice on
the applicable Purchase Date therefor) equal to or greater than One Hundred Thousand Dollars ($150,000), the Regular Purchase
Share Limit for such Regular Purchase Notice shall not be fully adjusted to equal the applicable Fully Adjusted Regular Purchase
Share Limit, but rather the Regular Purchase Share Limit for such Regular Purchase Notice shall be adjusted to equal the applicable
Alternate Adjusted Regular Purchase Share Limit as of the applicable Purchase Date for such Regular Purchase Notice); provided,
further, however, that the Investor’s committed obligation under any single Regular Purchase shall not exceed
Two-Hundred Fifty Thousand Dollars ($250,000), unless the daily median dollar volume for the twenty (20) Business Days prior to
the Purchase Date is greater than Five Hundred Thousand Dollars ($500,000), at which time the Investor’s committed obligation
under each Regular Purchase shall not exceed One Million Five Hundred Thousand Dollars ($1,500,000). If the Company delivers any
Regular Purchase Notice for a Purchase Amount in excess of the limitations contained in the immediately preceding sentence, such
Regular Purchase Notice shall be void ab initio to the extent of the number by which the number of Purchase Shares set
forth in such Regular Purchase Notice exceeds the number of Purchase Shares which the Company is permitted to include in such
Purchase Notice in accordance herewith, and the Investor shall have no obligation to purchase such excess Purchase Shares in respect
of such Regular Purchase Notice; provided that the Investor shall remain obligated to purchase the number of Purchase Shares which
the Company is permitted to include in such Regular Purchase Notice. The Company may deliver Regular Purchase Notices to the Investor
as often as every Business Day, so long as the Company has not failed to deliver Purchase Shares for all prior Regular Purchases,
Accelerated Purchases and Additional Accelerated Purchases, including, without limitation, those that have been effected on the
same Business Day as the applicable Purchase Date, have theretofore been received by the Investor as DWAC Shares in accordance
with this Agreement. Notwithstanding the foregoing, the Company shall not deliver any Regular Purchase Notices during the PEA
Period.

 

    	 	7	 

    	 	 	 

    

 

(b)
Accelerated Purchases. Subject to the terms and conditions of this Agreement, beginning one (1) Business Day following
the Commencement Date and thereafter, in addition to purchases of Purchase Shares as described in Section 2(a) above,
the Company shall also have the right, but not the obligation, to direct the Investor by the Company’s delivery to the Investor
of an Accelerated Purchase Notice from time to time, and the Investor thereupon shall have the obligation, to purchase such applicable
number of Purchase Shares at the Accelerated Purchase Price on the Accelerated Purchase Date in an amount up to the Accelerated
Purchase Share Amount in accordance with this Agreement (each such purchase, an “Accelerated Purchase”). The
Company may deliver an Accelerated Purchase Notice to the Investor only on a Purchase Date on which (i) the Company also properly
submitted a Regular Purchase Notice providing for a Regular Purchase of a number of Purchase Shares not less than the Regular
Purchase Share Limit then in effect on such Purchase Date in accordance with this Agreement (including, without limitation, giving
effect to any increase to the Regular Purchase Share Limit as a result of the Closing Sale Price of the Common Stock exceeding
certain thresholds set forth in Section 2(a) above on such Purchase Date and any other adjustments to the Regular Purchase
Share Limit, in each case pursuant to Section 2(a) above), (ii) if all Purchase Shares subject to all prior Regular Purchases,
Accelerated Purchases and Additional Accelerated Purchases, including, without limitation, those that have been effected on the
same Business Day as the applicable Accelerated Purchase Date with respect to which the applicable Accelerated Purchase relates,
have theretofore been received by the Investor as DWAC Shares in accordance with this Agreement and (iii) the Closing Sale Price
is not less than the Accelerated Purchase Floor Price. If the Company delivers any Accelerated Purchase Notice directing the Investor
to purchase an amount of Purchase Shares that exceeds the Accelerated Purchase Share Amount that the Company is then permitted
to include in such Accelerated Purchase Notice, such Accelerated Purchase Notice shall be void ab initio to the extent
of the number by which the number of Purchase Shares set forth in such Accelerated Purchase Notice exceeds the Accelerated Purchase
Share Amount which the Company is permitted to include in such Accelerated Purchase Notice in accordance herewith (which shall
be confirmed in an Accelerated Purchase Confirmation (defined below)), and the Investor shall have no obligation to purchase such
excess Purchase Shares in respect of such Accelerated Purchase Notice; provided that the Investor shall remain obligated to purchase
the Accelerated Purchase Share Amount which the Company is permitted to include in such Accelerated Purchase Notice. Within one
(1) Business Day after completion of each Accelerated Purchase Date, the Accelerated Purchase Share Amount and the applicable
Accelerated Purchase Price shall be set forth on a confirmation of the Accelerated Purchase to be provided to the Company by the
Investor (an “Accelerated Purchase Confirmation”). Notwithstanding the foregoing, the Company shall not deliver
any Accelerated Purchase Notices during the PEA Period.

 

    	 	8	 

    	 	 	 

    

 

(c)
Additional Accelerated Purchases. Subject to the terms and conditions of this Agreement, beginning one (1) Business Day
following the Commencement Date and thereafter, in addition to purchases of Purchase Shares as described in Section 2(a)
and Section 2(b) above, the Company shall also have the right, but not the obligation, to direct the Investor, by its timely
delivery to the Investor of an Additional Accelerated Purchase Notice on an Additional Accelerated Purchase Date in accordance
with this Agreement, to purchase the applicable Additional Accelerated Purchase Share Amount at the applicable Additional Accelerated
Purchase Price therefor in accordance with this Agreement (each such purchase, an “Additional Accelerated Purchase”).
The Company may deliver multiple Additional Accelerated Purchase Notices to the Investor on an Additional Accelerated Purchase
Date; provided, however, that the Company may deliver an Additional Accelerated Purchase Notice to the Investor only (i) on a
Business Day that is also the Accelerated Purchase Date for an Accelerated Purchase with respect to which the Company properly
submitted to the Investor an Accelerated Purchase Notice in accordance with this Agreement on the applicable Purchase Date for
a Regular Purchase of a number of Purchase Shares not less than the Regular Purchase Share Limit then in effect in accordance
with this Agreement (including, without limitation, giving effect to any automatic increase to the Regular Purchase Share Limit
as a result of the Closing Sale Price of the Common Stock exceeding certain thresholds set forth in Section 2(a) above
on such Purchase Date and any other adjustments to the Regular Purchase Share Limit, in each case pursuant to Section 2(a)
above), (ii) if the Closing Sale Price of the Common Stock on the Business Day immediately preceding the Business Day on which
such Additional Accelerated Purchase Notice is delivered is not less than the Additional Accelerated Purchase Floor Price, and
(iii) if all Purchase Shares subject to all prior Regular Purchases, Accelerated Purchases and Additional Accelerated Purchases,
including, without limitation, those that have been effected on the same Business Day as the applicable Additional Accelerated
Purchase Date with respect to which the applicable Additional Accelerated Purchase relates, have theretofore been received by
the Investor as DWAC Shares in accordance with this Agreement. If the Company delivers any Additional Accelerated Purchase Notice
directing the Investor to purchase an amount of Purchase Shares that exceeds the Additional Accelerated Purchase Share Amount
that the Company is then permitted to include in such Additional Accelerated Purchase Notice in accordance with the terms of this
Agreement, such Additional Accelerated Purchase Notice shall be void ab initio to the extent of the number by which the number
of Purchase Shares set forth in such Additional Accelerated Purchase Notice exceeds the Additional Accelerated Purchase Share
Amount that the Company is then permitted to include in such Additional Accelerated Purchase Notice in accordance with the terms
of this Agreement (which shall be confirmed in an Additional Accelerated Purchase Confirmation (defined below)), and the Investor
shall have no obligation to purchase such excess Purchase Shares in respect of such Additional Accelerated Purchase Notice; provided,
however, that the Investor shall remain obligated to purchase the Additional Accelerated Purchase Share Amount which the Company
is permitted to include in such Additional Accelerated Purchase Notice. Within one (1) Business Day after completion of each Additional
Accelerated Purchase Date, the Investor will provide to the Company a written confirmation of each Additional Accelerated Purchase
on such Additional Accelerated Purchase Date setting forth the applicable Additional Accelerated Purchase Share Amount and Additional
Accelerated Purchase Price for each such Additional Accelerated Purchase on such Additional Accelerated Purchase Date (each, an
“Additional Accelerated Purchase Confirmation”). Notwithstanding the foregoing, the Company shall not deliver
any Additional Accelerated Purchase Notices during the PEA Period.

 

    	 	9	 

    	 	 	 

    

 

(d)
Payment for Purchase Shares. For each Regular Purchase, the Investor shall pay to the Company an amount equal to the Purchase
Amount with respect to such Regular Purchase as full payment for such Purchase Shares via wire transfer of immediately available
funds on the same Business Day that the Investor receives such Purchase Shares, if such Purchase Shares are received by the Investor
before 1:00 p.m., Eastern time, or, if such Purchase Shares are received by the Investor after 1:00 p.m., Eastern time, the next
Business Day. For each Accelerated Purchase and each Additional Accelerated Purchase, the Investor shall pay to the Company an
amount equal to the Purchase Amount with respect to such Accelerated Purchase and Additional Accelerated Purchase, respectively,
as full payment for such Purchase Shares via wire transfer of immediately available funds on the second Business Day following
the date that the Investor receives such Purchase Shares. If the Company or the Transfer Agent shall fail for any reason or for
no reason to electronically transfer any Purchase Shares as DWAC Shares in respect of a Regular Purchase, an Accelerated Purchase
or an Additional Accelerated Purchase (as applicable) within two (2) Business Days following the receipt by the Company of the
Purchase Price, Accelerated Purchase Price and Additional Accelerated Purchase Price, respectively, therefor in compliance with
this Section 2(d), and if on or after such Business Day the Investor purchases (in an open market transaction or otherwise)
shares of Common Stock to deliver in satisfaction of a sale by the Investor of such Purchase Shares that the Investor anticipated
receiving from the Company in respect of such Regular Purchase, Accelerated Purchase or Additional Accelerated Purchase (as applicable),
then the Company shall, within two (2) Business Days after the Investor’s request, either (i) pay cash to the Investor in
an amount equal to the Investor’s total purchase price (including brokerage commissions, if any) for the shares of Common
Stock so purchased (the “Cover Price”), at which point the Company’s obligation to deliver such Purchase
Shares as DWAC Shares shall terminate, or (ii) promptly honor its obligation to deliver to the Investor such Purchase Shares as
DWAC Shares and pay cash to the Investor in an amount equal to the excess (if any) of the Cover Price over the total Purchase
Amount paid by the Investor pursuant to this Agreement for all of the Purchase Shares to be purchased by the Investor in connection
with such Regular Purchase, Accelerated Purchase and Additional Accelerated Purchase (as applicable). The Company shall not issue
any fraction of a share of Common Stock upon any Regular Purchase, Accelerated Purchase or Additional Accelerated Purchase. If
the issuance would result in the issuance of a fraction of a share of Common Stock, the Company shall round such fraction of a
share of Common Stock up or down to the nearest whole share. All payments made under this Agreement shall be made in lawful money
of the United States of America or wire transfer of immediately available funds to such account as the Company may from time to
time designate by written notice in accordance with the provisions of this Agreement. Whenever any amount expressed to be due
by the terms of this Agreement is due on any day that is not a Business Day, the same shall instead be due on the next succeeding
day that is a Business Day.

 

(e)
Beneficial Ownership Limitation. Notwithstanding anything to the contrary contained in this Agreement, the Company shall
not issue or sell, and the Investor shall not purchase or acquire, any shares of Common Stock under this Agreement which, when
aggregated with all other shares of Common Stock then beneficially owned by the Investor and its affiliates (as calculated pursuant
to Section 13(d) of the Exchange Act and Rule 13d-3 promulgated thereunder), would result in the beneficial ownership by the Investor
and its affiliates of more than 4.99% of the then issued and outstanding shares of Common Stock (the “Beneficial Ownership
Limitation”). Upon the written or oral request of the Investor, the Company shall promptly confirm orally or in writing
to the Investor the number of shares of Common Stock then outstanding. The Investor and the Company shall each cooperate in good
faith in the determinations required hereby and the application hereof. The Investor’s written certification to the Company
of the applicability of the Beneficial Ownership Limitation, and the resulting effect thereof hereunder at any time, shall be
conclusive with respect to the applicability thereof and such result absent manifest error.

 

    	 	10	 

    	 	 	 

    

 

(f)
Compliance with Principal Market Rules.

 

(i)
Exchange Cap. Subject to Section 2(f)(ii) below, the Company shall not issue or sell any shares of Common Stock
pursuant to this Agreement, and the Investor shall not purchase or acquire any shares of Common Stock pursuant to this Agreement,
to the extent that after giving effect thereto, the aggregate number of shares of Common Stock that would be issued pursuant to
this Agreement and the transactions contemplated hereby would be equal to or greater than 1,088,795 shares of Common Stock, representing
19.99% of the shares of Common Stock outstanding on the date of this Agreement (which number of shares shall be reduced, on a
share-for-share basis, by the number of shares of Common Stock issued or issuable pursuant to any transaction or series of transactions
that may be aggregated with the transactions contemplated by this Agreement under applicable rules of The Nasdaq Capital Market
or any other Principal Market on which the Common Stock may be listed or quoted) (the “Exchange Cap”), unless
and until the Company elects to solicit stockholder approval of the issuance of Common Stock as contemplated by this Agreement
and the stockholders of the Company have in fact approved such issuance in accordance with the applicable rules and regulations
of The Nasdaq Capital Market, any other Principal Market on which the Common Stock may be listed or quoted, and the Company’s
Certificate of Incorporation, as amended (the “Certificate of Incorporation”), and the Company’s Bylaws,
as amended (the “Bylaws”). For the avoidance of doubt, the Company may, but shall be under no obligation to,
request its stockholders to approve the issuance of Common Stock as contemplated by this Agreement; provided, that if stockholder
approval is not obtained in accordance with this Section 2(f)(i), the Exchange Cap shall be applicable for all purposes
of this Agreement and the transactions contemplated hereby at all times during the term of this Agreement (except as set forth
in Section 2(f)(ii) below).

 

(ii)
At-Market Transaction. Notwithstanding Section 2(f)(i) above and subject to the prior approval of the Principal
Market on which the Common Stock may be listed or quoted (to the extent required), the Exchange Cap shall not be applicable for
any purposes of this Agreement and the transactions contemplated hereby, solely to the extent that (and only for so long as) the
Average Price shall equal or exceed the Base Price and in accordance with any other applicable rules of the Principal Market on
which the Common Stock may be listed or quoted (it being hereby acknowledged and agreed that the Exchange Cap shall be applicable
for all purposes of this Agreement and the transactions contemplated hereby at all other times during the term of this Agreement,
unless the stockholder approval referred to in Section 2(f)(i) is obtained).

 

(iii)
General. The Company shall not issue any Securities pursuant to this Agreement if such issuance would reasonably be expected
to result in (A) a violation of the Securities Act or (B) a breach of the rules and regulations of the Principal Market. Furthermore,
the Company agrees that it shall not issue any Securities pursuant to this Agreement if, at the time of such issuance (Y) the
effectiveness of the Registration Statement registering the Securities has lapsed for any reason (including, without limitation,
the issuance of a stop order or similar order) or (Z) the Registration Statement is unavailable for the sale by the Company to
the Investor (or the resale by the Investor, as the case may be) of any or all of the Securities to be issued to the Investor
under the Transaction Documents. The provisions of this Section 2(f) shall be implemented in a manner otherwise than in
strict conformity with the terms hereof only if necessary to ensure compliance with the Securities Act and the rules and regulations
of the Principal Market.

 

	3.	INVESTOR’S
    REPRESENTATIONS AND WARRANTIES.

 

The
Investor represents and warrants to the Company that as of the date hereof and as of the Commencement Date:

 

(a)
Investment Purpose. The Investor is acquiring the Securities as principal for its own account and not with a view to or
for distributing or reselling such Securities or any part thereof in violation of the Securities Act or any applicable state securities
law, has no present intention of distributing any of such Securities in violation of the Securities Act or any applicable state
securities law and has no direct or indirect arrangement or understandings with any other Persons to distribute or regarding the
distribution of such Securities in violation of the Securities Act or any applicable state securities law (this representation
and warranty not limiting the Investor’s right to sell the Securities at any time pursuant to the Registration Statement
described herein or otherwise in compliance with applicable federal and state securities laws). The Investor is acquiring the
Securities hereunder in the ordinary course of its business.

 

    	 	11	 

    	 	 	 

    

 

(b)
 Accredited Investor Status. The Investor is an “accredited investor” as that term is defined in Rule 501(a)(3)
of Regulation D promulgated under the Securities Act.

 

(c)
Reliance on Exemptions. The Investor understands that the Securities may be offered and sold to it in reliance on specific
exemptions from the registration requirements of United States federal and state securities laws and that the Company is relying
in part upon the truth and accuracy of, and the Investor’s compliance with, the representations, warranties, agreements,
acknowledgments and understandings of the Investor set forth herein in order to determine the availability of such exemptions
and the eligibility of the Investor to acquire the Securities.

 

(d)
Information. The Investor understands that its investment in the Securities involves a high degree of risk. The Investor
(i) is able to bear the economic risk of an investment in the Securities including a total loss thereof, (ii) has such knowledge
and experience in financial and business matters that it is capable of evaluating the merits and risks of the proposed investment
in the Securities and (iii) has had an opportunity to ask questions of and receive answers from the officers of the Company concerning
the financial condition and business of the Company and other matters related to an investment in the Securities. Neither such
inquiries nor any other due diligence investigations conducted by the Investor or its representatives shall modify, amend or affect
the Investor’s right to rely on the Company’s representations and warranties contained in Section 4 below.
The Investor has sought such accounting, legal and tax advice from its own independent advisor as it has considered necessary
to make an informed investment decision with respect to its acquisition of the Securities and is not relying on any such advice
or similar advice from the Company, its officers, directors, representatives, or advisors.

 

(e)
No Governmental Review. The Investor understands that no U.S. federal or state agency or any other government or governmental
agency has passed on or made any recommendation or endorsement of the Securities or the fairness or suitability of an investment
in the Securities nor have such authorities passed upon or endorsed the merits of the offering of the Securities.

 

(f)
Transfer or Sale. The Investor understands that (i) the Securities may not be offered for sale, sold, assigned or transferred
unless (A) registered pursuant to the Securities Act or (B) an exemption exists permitting such Securities to be sold, assigned
or transferred without such registration; (ii) any sale of the Securities 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 the Securities under circumstances in which
the seller (or the Person 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 SEC thereunder.

 

(g)
Validity; Enforcement. This Agreement has been duly and validly authorized, executed and delivered on behalf of the Investor
and is a valid and binding agreement of the Investor enforceable against the Investor in accordance with its terms, subject as
to enforceability to general principles of equity and to applicable bankruptcy, insolvency, reorganization, moratorium, liquidation
and other similar laws relating to, or affecting generally, the enforcement of applicable creditors’ rights and remedies.

 

    	 	12	 

    	 	 	 

    

 

(h)
Residency. The Investor is a resident of the State of Illinois.

 

(i)
No Short Selling. The Investor represents and warrants to the Company that at no time prior to the date of this Agreement
has any of the Investor, its agents, representatives or affiliates engaged in or effected, in any manner whatsoever, directly
or indirectly, any (i) “short sale” (as such term is defined in Rule 200 of Regulation SHO of the Exchange Act) of
the Common Stock or (ii) hedging transaction, which establishes a net short position with respect to the Common Stock.

 

	4.	REPRESENTATIONS
    AND WARRANTIES OF THE COMPANY.

 

The
Company represents and warrants to the Investor that, except as set forth in the disclosure schedules attached hereto, which exceptions
shall be deemed to be a part of the representations and warranties made hereunder, as of the date hereof and as of the Commencement
Date:

 

(a)
Organization and Qualification. The Company and each of its Subsidiaries is an entity duly incorporated or otherwise organized,
validly existing and in good standing under the laws of the jurisdiction of its incorporation or organization, with the requisite
corporate power and authority to own and use its properties and assets and to carry on its business as currently conducted. Neither
the Company nor any of its Subsidiaries is in violation or default of any of the provisions of its respective articles or certificate
of incorporation, bylaws or other organizational or charter documents. Each of the Company and its Subsidiaries is duly qualified
to conduct business and is in good standing as a foreign corporation or other entity in each jurisdiction in which the nature
of the business conducted or property owned by it makes such qualification necessary, except where the failure to be so qualified
or in good standing, as the case may be, could not have or reasonably be expected to result in a Material Adverse Effect and no
proceeding has been instituted in any such jurisdiction revoking, limiting or curtailing or seeking to revoke, limit or curtail
such power and authority or qualification. The Company has no Subsidiaries except as set forth in Schedule 4(a) hereof.

 

(b)
Authorization; Enforcement; Validity. (i) The Company has the requisite corporate power and authority to enter into and
perform its obligations under this Agreement and each of the other Transaction Documents, and to issue the Securities in accordance
with the terms hereof and thereof, (ii) the execution and delivery of the Transaction Documents by the Company and the consummation
by it of the transactions contemplated hereby and thereby, including without limitation, the issuance of the Commitment Shares
(as defined below in Section 5(f)) and the reservation for issuance and the issuance of the Purchase Shares issuable
under this Agreement, have been duly authorized by the Company’s Board of Directors and no further consent or authorization
is required by the Company, its Board of Directors or its stockholders, (iii) this Agreement has been, and each other Transaction
Document shall be on the Commencement Date, duly executed and delivered by the Company and (iv) this Agreement constitutes, and
each other Transaction Document upon its execution on behalf of the Company, shall constitute, the valid and binding obligations
of the Company enforceable against the Company in accordance with their terms, except as such enforceability may be limited by
general principles of equity or applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating
to, or affecting generally, the enforcement of creditors’ rights and remedies. The Board of Directors of the Company has
approved the resolutions (the “Signing Resolutions”) to authorize this Agreement and the transactions contemplated
hereby. The Signing Resolutions are valid, in full force and effect and have not been modified or supplemented in any respect.
The Company has delivered to the Investor a true and correct copy of a unanimous written consent adopting the Signing Resolutions
executed by all of the members of the Board of Directors of the Company or minutes of a meeting of the Board of Directors of the
Company approving the Signing Resolutions. Except as set forth in this Agreement, no other approvals or consents of the Company’s
Board of Directors, any authorized committee thereof, and/or stockholders is necessary under applicable laws and the Certificate
of Incorporation and/or Bylaws to authorize the execution and delivery of this Agreement or any of the transactions contemplated
hereby, including, but not limited to, the issuance of the Commitment Shares and the issuance of the Purchase Shares.

 

    	 	13	 

    	 	 	 

    

 

(c)
Capitalization. As of the date hereof, the authorized and issued capital stock of the Company is set forth in the Company’s
Registration Statement on Form S-3, filed with the SEC on September 25, 2019. Except as disclosed in the SEC Documents (as defined
below), (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 debt securities, (iii) 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, (iv) there are no agreements or arrangements under which the Company or any of its Subsidiaries is
obligated to register the sale of any of their securities under the Securities Act (except the Registration Rights Agreement),
(v) there are no outstanding securities or instruments 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, (vi) there are no securities
or instruments containing anti-dilution or similar provisions that will be triggered by the issuance of the Securities as described
in this Agreement and (vii) the Company does not have any stock appreciation rights or “phantom stock” plans or agreements
or any similar plan or agreement. The Company has furnished to the Investor true and correct copies of the Certificate of Incorporation,
and the Bylaws, and summaries of the terms of all securities convertible into or exercisable for Common Stock, if any, and copies
of any documents containing the material rights of the holders thereof in respect thereto.

 

(d)
Issuance of Securities. Upon issuance and payment therefor in accordance with the terms and conditions of this Agreement,
the Purchase Shares shall be validly issued, fully paid and nonassessable and free from all taxes, liens, charges, restrictions,
rights of first refusal and preemptive rights with respect to the issue thereof, with the holders being entitled to all rights
accorded to a holder of Common Stock. 3,024,194 shares of Common Stock have been duly authorized and reserved for issuance upon
purchase under this Agreement as Purchase Shares. 81,263 shares of Common Stock (subject to equitable adjustment for any reorganization,
recapitalization, non-cash dividend, stock split or other similar transaction) have been duly authorized and reserved for issuance
as Initial Commitment Shares (as defined below in Section 5(e)) in accordance with this Agreement. The Initial Commitment
Shares shall be validly issued, fully paid and nonassessable and free from all taxes, liens, charges, restrictions, rights of
first refusal and preemptive rights with respect to the issue thereof, with the holders being entitled to all rights accorded
to a holder of Common Stock. 40,937 shares of Common Stock (subject to adjustment for any reorganization, recapitalization, non-cash
dividend, stock split or other similar transaction) have been duly authorized and reserved for issuance as Additional Commitment
Shares (as defined below in Section 5(f)) in accordance with this Agreement. When issued in accordance with this Agreement,
the Additional Commitment Shares shall be validly issued, fully paid and nonassessable and free from all taxes, liens, charges,
restrictions, rights of first refusal and preemptive rights with respect to the issue thereof, with the holders being entitled
to all rights accorded to a holder of Common Stock.

 

    	 	14	 

    	 	 	 

    

 

(e)
No Conflicts. The execution, delivery and performance of the Transaction Documents by the Company and the consummation
by the Company of the transactions contemplated hereby and thereby (including, without limitation, the reservation for issuance
and issuance of the Purchase Shares and the Commitment Shares) will not (i) result in a violation of the Certificate of Incorporation,
any Certificate of Designations, Preferences and Rights of any outstanding series of preferred stock of the Company or the Bylaws
or (ii) conflict with, or constitute a default (or an event which with notice or lapse of time or both would become a default)
under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture or instrument
to which the Company or any of its Subsidiaries is a party, or result in a violation of any law, rule, regulation, order, judgment
or decree (including federal and state securities laws and regulations and the rules and regulations of the Principal Market applicable
to the Company or any of its Subsidiaries) or by which any property or asset of the Company or any of its Subsidiaries is bound
or affected, except in the case of conflicts, defaults, terminations, amendments, accelerations, cancellations and violations
under clause (ii), which could not reasonably be expected to result in a Material Adverse Effect. Neither the Company nor its
Subsidiaries is in violation of any term of or in default under its certificate of incorporation, any certificate of designation,
preferences and rights of any outstanding series of preferred stock of the Company or Bylaws or their organizational charter or
bylaws, respectively. Neither the Company nor any of its Subsidiaries is in violation of any term of or is in default under any
material contract, agreement, mortgage, indebtedness, indenture, instrument, judgment, decree or order or any statute, rule or
regulation applicable to the Company or its Subsidiaries, except for possible conflicts, defaults, terminations or amendments
that could not reasonably be expected to have a Material Adverse Effect. The business of the Company and its Subsidiaries is not
being conducted, and shall not be conducted, in violation of any law, ordinance, regulation of any governmental entity, except
for possible violations, the sanctions for which either individually or in the aggregate could not reasonably be expected to have
a Material Adverse Effect. Except as specifically contemplated by this Agreement and as required under the Securities Act or applicable
state securities laws and the rules and regulations of the Principal Market, the Company is not required to obtain any consent,
authorization or order of, or make any filing or registration with, any court or governmental agency or any regulatory or self-regulatory
agency in order for it to execute, deliver or perform any of its obligations under or contemplated by the Transaction Documents
in accordance with the terms hereof or thereof. Except as set forth elsewhere in this Agreement, all consents, authorizations,
orders, filings and registrations which the Company is required to obtain pursuant to the preceding sentence shall be obtained
or effected on or prior to the Commencement Date. Except as set forth in the SEC Documents, since one year prior to the date hereof,
the Company has not received nor delivered any notices or correspondence from or to the Principal Market. To the Company’s
knowledge, the Principal Market has not commenced any delisting proceedings against the Company.

 

(f)
SEC Documents; Financial Statements. The Company has filed all reports, schedules, forms, statements and other documents
required to be filed by the Company under the Securities Act and the Exchange Act, including pursuant to Section 13(a) or 15(d)
thereof, for the 24 months preceding the date hereof (or such shorter period as the Company was required by law or regulation
to file such material) (the foregoing materials, including the exhibits thereto and documents incorporated by reference therein,
being collectively referred to herein as the “SEC Documents”) on a timely basis or has received a valid extension
of such time of filing and has filed any such SEC Documents prior to the expiration of any such extension. As of their respective
dates, the SEC Documents complied in all material respects with the requirements of the Securities Act and the Exchange Act, as
applicable. None of the SEC Documents, when filed, contained any untrue statement of a material fact or omitted to state a material
fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under
which they were made, not misleading. The financial statements of the Company included in the SEC Documents comply in all material
respects with applicable accounting requirements and the rules and regulations of the SEC with respect thereto as in effect at
the time of filing. Such financial statements have been prepared in accordance with United States generally accepted accounting
principles applied on a consistent basis during the periods involved (“GAAP”), except as may be otherwise specified
in such financial statements or the notes thereto and except that unaudited financial statements may not contain all footnotes
required by GAAP, and fairly present in all material respects the financial position of the Company and its consolidated Subsidiaries
as of and for the dates thereof and the results of operations and cash flows for the periods then ended, subject, in the case
of unaudited statements, to normal, immaterial, year-end audit adjustments. Except as set forth in the SEC Documents, the Company
has received no notices or correspondence from the SEC for the one year preceding the date hereof. The SEC has not commenced any
enforcement proceedings against the Company or any of its Subsidiaries.

 

    	 	15	 

    	 	 	 

    

 

(g)
Absence of Certain Changes. Except as disclosed in the SEC Documents, since December 31, 2018, there has been no material
adverse change in the business, properties, operations, financial condition or results of operations of the Company or its Subsidiaries.
The Company has not taken any steps, and does not currently expect to take any steps, to seek protection pursuant to any Bankruptcy
Law nor does the Company or any of its Subsidiaries have any knowledge or reason to believe that its creditors intend to initiate
involuntary bankruptcy or insolvency proceedings.

 

(h)
Absence of Litigation. There is no action, suit, proceeding, inquiry or investigation before or by any court, public board,
government agency, self-regulatory organization or body pending or, to the knowledge of the Company or any of its Subsidiaries,
threatened against or affecting the Company, the Common Stock or any of the Company’s or its Subsidiaries’ officers
or directors in their capacities as such, which could reasonably be expected to have a Material Adverse Effect.

 

(i)
Acknowledgment Regarding Investor’s Status. The Company acknowledges and agrees that the Investor is acting
solely in the capacity of arm’s length purchaser with respect to the Transaction Documents and the transactions contemplated
hereby and thereby. The Company further acknowledges that the Investor is not acting as a financial advisor or fiduciary of the
Company (or in any similar capacity) with respect to the Transaction Documents and the transactions contemplated hereby and thereby
and any advice given by the Investor or any of its representatives or agents in connection with the Transaction Documents and
the transactions contemplated hereby and thereby is merely incidental to the Investor’s purchase of the Securities. The
Company further represents to the Investor that the Company’s decision to enter into the Transaction Documents has been
based solely on the independent evaluation by the Company and its representatives and advisors.

 

(j)
No General Solicitation; No Aggregated or Integrated Offering. Neither the Company, nor any of its affiliates, nor any
Person acting on its or their behalf, has engaged in any form of general solicitation or general advertising (within the meaning
of Regulation D under the Securities Act) in connection with the offer or sale of the Securities. Neither the Company, nor or
any of its affiliates, nor any Person acting on their behalf has, directly or indirectly, made any offers or sales of any security
or solicited any offers to purchase any security, under circumstances that would require registration of the offer and sale of
any of the Securities under the Securities Act, whether through aggregation or integration with prior offerings or otherwise,
or cause this offering of the Securities to be aggregated or integrated with prior offerings by the Company in a manner that would
require stockholder approval pursuant to the rules of the Principal Market on which any of the securities of the Company are listed
or designated. The issuance and sale of the Securities hereunder, as of the date of this Agreement, does not contravene the rules
and regulations of the Principal Market.

 

    	 	16	 

    	 	 	 

    

 

(k)
 Intellectual Property Rights. The Company and its Subsidiaries own or possess adequate rights or licenses to use all material
trademarks, trade names, service marks, service mark registrations, service names, patents, patent rights, copyrights, inventions,
licenses, approvals, governmental authorizations, trade secrets and rights necessary to conduct their respective businesses as
now conducted. None of the Company’s material trademarks, trade names, service marks, service mark registrations, service
names, patents, patent rights, copyrights, inventions, licenses, approvals, government authorizations, trade secrets or other
intellectual property rights have expired or terminated, or, by the terms and conditions thereof, could expire or terminate within
two years from the date of this Agreement. The Company and its Subsidiaries do not have any knowledge of any infringement by the
Company or its Subsidiaries of any material trademark, trade name rights, patents, patent rights, copyrights, inventions, licenses,
service names, service marks, service mark registrations, trade secret or other similar rights of others, or of any such development
of similar or identical trade secrets or technical information by others, and there is no claim, action or proceeding being made
or brought against, or to the Company’s knowledge, being threatened against, the Company or its Subsidiaries regarding trademark,
trade name, patents, patent rights, invention, copyright, license, service names, service marks, service mark registrations, trade
secret or other infringement, which could reasonably be expected to have a Material Adverse Effect.

 

(l)
Environmental Laws. To the Company’s best knowledge, the Company and its Subsidiaries (i) are in compliance with
any and all applicable foreign, federal, state and local laws and regulations relating to the protection of human health and safety,
the environment or hazardous or toxic substances or wastes, pollutants or contaminants (“Environmental Laws”),
(ii) have received all permits, licenses or other approvals required of them under applicable Environmental Laws to conduct their
respective businesses and (iii) are in compliance with all terms and conditions of any such permit, license or approval, except
where, in each of the three foregoing clauses, the failure to so comply could not reasonably be expected to have, individually
or in the aggregate, a Material Adverse Effect.

 

(m)
Title. Except as disclosed in the SEC Documents, the Company and its Subsidiaries have good and marketable title in fee
simple to all real property owned by them and good and marketable title in all personal property owned by them that is material
to the business of the Company and its Subsidiaries, in each case free and clear of all liens, encumbrances and defects (“Liens”)
and, except for Liens as do not materially affect the value of such property and do not materially interfere with the use made
and proposed to be made of such property by the Company and its Subsidiaries and Liens for the payment of federal, state or other
taxes, the payment of which is neither delinquent nor subject to penalties. Any real property and facilities held under lease
by the Company and its Subsidiaries are held by them under valid, subsisting and enforceable leases with which the Company and
its Subsidiaries are in compliance with such exceptions as are not material and do not interfere with the use made and proposed
to be made of such property and buildings by the Company and its Subsidiaries.

 

(n)
Insurance. The Company and each of its Subsidiaries are insured by insurers of recognized financial responsibility against
such losses and risks and in such amounts as management of the Company believes to be prudent and customary in the businesses
in which the Company and its Subsidiaries are engaged. Neither the Company nor any such Subsidiary has been refused any insurance
coverage sought or applied for and neither the Company nor any such Subsidiary has any reason to believe that it will not be able
to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers
as may be necessary to continue its business at a cost that would not materially and adversely affect the condition, financial
or otherwise, or the earnings, business or operations of the Company and its Subsidiaries, taken as a whole.

 

(o)
Regulatory Permits. The Company and its Subsidiaries possess all material certificates, authorizations and permits issued
by the appropriate federal, state or foreign regulatory authorities necessary to conduct their respective businesses, and neither
the Company nor any such Subsidiary has received any notice of proceedings relating to the revocation or modification of any such
certificate, authorization or permit.

 

    	 	17	 

    	 	 	 

    

 

(p)
Tax Status. The Company and each of its Subsidiaries has made or filed all federal and state income and all other material
tax returns, reports and declarations required by any jurisdiction to which it is subject (unless and only to the extent that
the Company and each of its Subsidiaries has set aside on its books provisions reasonably adequate for the payment of all unpaid
and unreported taxes) and has paid all taxes and other governmental assessments and charges that are material in amount, shown
or determined to be due on such returns, reports and declarations, except those being contested in good faith and has set aside
on its books provision reasonably adequate for the payment of all taxes for periods subsequent to the periods to which such returns,
reports or declarations apply. There are no unpaid taxes in any material amount claimed to be due by the taxing authority of any
jurisdiction, and the officers of the Company know of no basis for any such claim.

 

(q)
Transactions With Affiliates. Except as set forth in the SEC Documents, to the Company’s best knowledge, none of
the officers or directors of the Company, the Company’s stockholders, the officers or directors of any stockholder of the
Company, or any family member or affiliate of any of the foregoing, has either directly or indirectly any interest in, or is a
party to, any transaction that would be required to be disclosed as a related party transaction pursuant to Rule 404 of Regulation
S-K promulgated under the Securities Act.

 

(r)
Application of Takeover Protections. The Company and its Board of Directors have taken or will take prior to the Commencement
Date all necessary action, if any, in order to render inapplicable any control share acquisition, business combination, poison
pill (including any distribution under a rights agreement) or other similar anti-takeover provision under the Certificate of Incorporation
or the laws of the state of its incorporation which is or could become applicable to the Investor as a result of the transactions
contemplated by this Agreement, including, without limitation, the Company’s issuance of the Securities and the Investor’s
ownership of the Securities.

 

(s)
Disclosure. Except with respect to the material terms and conditions of the transactions contemplated by the Transaction
Documents that will be timely publicly disclosed by the Company, the Company confirms that neither it nor any other Person acting
on its behalf has provided the Investor or its agents or counsel with any information that it believes constitutes or might constitute
material, non-public information which is not otherwise disclosed in the Registration Statement or the SEC Documents. The Company
understands and confirms that the Investor will rely on the foregoing representation in effecting purchases and sales of securities
of the Company. All of the disclosure furnished by or on behalf of the Company to the Investor regarding the Company, its business
and the transactions contemplated hereby, including the disclosure schedules to this Agreement, is true and correct and does not
contain any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements made
therein, in light of the circumstances under which they were made, not misleading. The press releases disseminated by the Company
during the twelve (12) months preceding the date of this Agreement taken as a whole do not contain any untrue statement of a material
fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in light
of the circumstances under which they were made and when made, not misleading. The Company acknowledges and agrees that the Investor
neither makes nor has made any representations or warranties with respect to the transactions contemplated hereby other than those
specifically set forth in Section 3 hereof.

 

(t)
Foreign Corrupt Practices. Neither the Company, nor to the knowledge of the Company, any agent or other Person acting on
behalf of the Company, has (i) directly or indirectly, used any funds for unlawful contributions, gifts, entertainment or other
unlawful expenses related to foreign or domestic political activity, (ii) made any unlawful payment to foreign or domestic government
officials or employees or to any foreign or domestic political parties or campaigns from corporate funds, (iii) failed to disclose
fully any contribution made by the Company (or made by any Person acting on its behalf of which the Company is aware) which is
in violation of law, or (iv) violated in any material respect any provision of the Foreign Corrupt Practices Act of 1977, as amended.

 

    	 	18	 

    	 	 	 

    

 

(u)
DTC Eligibility. The Company, through the Transfer Agent, currently participates in the DTC Fast Automated Securities Transfer
(FAST) Program and the Common Stock can be transferred electronically to third parties via the DTC Fast Automated Securities Transfer
(FAST) Program.

 

(v)
Sarbanes-Oxley. The Company is in compliance with all material provisions of the Sarbanes-Oxley Act of 2002, as amended,
which are applicable to it as of the date hereof.

 

(w)
Certain Fees. No brokerage or finder’s fees or commissions are or will be payable by the Company to any broker, financial
advisor or consultant, finder, placement agent, investment banker, bank or other Person with respect to the transactions contemplated
by the Transaction Documents. The Investor shall have no obligation with respect to any fees or with respect to any claims made
by or on behalf of other Persons for fees that may be due in connection with the transactions contemplated by the Transaction
Documents.

 

(x)
Investment Company. The Company is not, and immediately after receipt of payment for the Securities will not be, an “investment
company” within the meaning of the Investment Company Act of 1940, as amended.

 

(y)
Listing and Maintenance Requirements. The Common Stock is registered pursuant to Section 12(b) or 12(g) of the Exchange
Act, and the Company has taken no action designed to, or which to its knowledge is likely to have the effect of, terminating the
registration of the Common Stock pursuant to the Exchange Act nor has the Company received any notification that the SEC is currently
contemplating terminating such registration. The Company has not, in the twelve (12) months preceding the date hereof, received
any notice from any Person to the effect that the Company is not in compliance with the listing or maintenance requirements of
the Principal Market. The Company is, and has no reason to believe that it will not in the foreseeable future continue to be,
in compliance with all such listing and maintenance requirements.

 

(z)
Accountants. The Company’s accountants are set forth in the SEC Documents and, to the knowledge of the Company, such
accountants are an independent registered public accounting firm as required by the Securities Act.

 

(aa)
No Market Manipulation. The Company has not, and to its knowledge no Person acting on its behalf has, (i) taken, directly
or indirectly, any action designed to cause or to result in the stabilization or manipulation of the price of any security of
the Company to facilitate the sale or resale of any of the Securities, (ii) sold, bid for, purchased, or, paid any compensation
for soliciting purchases of, any of the Securities, or (iii) paid or agreed to pay to any Person any compensation for soliciting
another to purchase any other securities of the Company.

 

(bb)
Shell Company Status. The Company is not currently an issuer identified in Rule 144(i)(1) under the Securities Act and
has filed all “Form 10 information” required by Rule 144(i)(1) under the Securities Act with the SEC as of June 26,
2019.

 

(cc)
No Disqualification Events. None of the Company, any of its predecessors, any affiliated issuer, any director, executive
officer, other officer of the Company participating in the offering contemplated hereby, any beneficial owner of 20% or more of
the Company’s outstanding voting equity securities, calculated on the basis of voting power, nor any promoter (as that term
is defined in Rule 405 under the Securities Act) connected with the Company in any capacity at the time of sale (each, an “Issuer
Covered Person”) is subject to any of the “Bad Actor” disqualifications described in Rule 506(d)(1)(i) to
(viii) under the Securities Act (a “Disqualification Event”), except for a Disqualification Event covered by
Rule 506(d)(2) or (d)(3) under the Securities Act. The Company has exercised reasonable care to determine whether any Issuer Covered
Person is subject to a Disqualification Event.

 

    	 	19	 

    	 	 	 

    

 

	5.	COVENANTS.

 

(a)
Filing of Current Report and Registration Statement. The Company agrees that it shall, within the time required under the
Exchange Act, file with the SEC a report on Form 8-K relating to the transactions contemplated by, and describing the material
terms and conditions of, the Transaction Documents (the “Current Report”). The Company shall also file with
the SEC, by October 31, 2019, a new registration statement (the “Registration Statement”) covering the resale
of 1,109,279 Purchase Shares and 122,200 Commitment Shares in accordance with the terms of the Registration Rights Agreement.
The Company shall permit the Investor to review and comment upon the final pre-filing draft version of the Current Report at least
two (2) Business Days prior to its filing with the SEC, and the Company shall not file the Current Report or the Registration
Statement with the SEC in a form to which the Investor reasonably objects. The Investor shall use its reasonable best efforts
to comment upon the final pre-filing draft version of the Current Report within one (1) Business Day from the date the Investor
receives it from the Company.

 

(b)
Blue Sky. The Company shall take all such action, if any, as is reasonably necessary in order to obtain an exemption for
or to register or qualify (i) the issuance of the Commitment Shares and the sale of the Purchase Shares to the Investor under
this Agreement and (ii) any subsequent resale of all Commitment Shares and all Purchase Shares by the Investor, in each case,
under applicable securities or “Blue Sky” laws of the states of the United States in such states as is reasonably
requested by the Investor from time to time, and shall provide evidence of any such action so taken to the Investor.

 

(c)
Listing/DTC. The Company shall promptly secure the listing of all of the Purchase Shares and Commitment Shares to be issued
to the Investor hereunder on the Principal Market (subject to official notice of issuance) and upon each other national securities
exchange or automated quotation system, if any, upon which the Common Stock is then listed, and shall use commercially reasonable
efforts to maintain, so long as any shares of Common Stock shall be so listed, such listing of all such Securities from time to
time issuable hereunder. The Company shall use commercially reasonable efforts to maintain the listing of the Common Stock on
the Principal Market and shall comply in all respects with the Company’s reporting, filing and other obligations under the
bylaws or rules and regulations of the Principal Market. Neither the Company nor any of its Subsidiaries shall take any action
that would reasonably be expected to result in the delisting or suspension of the Common Stock on the Principal Market. The Company
shall promptly, and in no event later than the following Business Day, provide to the Investor copies of any notices it receives
from any Person regarding the continued eligibility of the Common Stock for listing on the Principal Market; provided, however,
that the Company shall not provide the Investor copies of any such notice that the Company reasonably believes constitutes material
non-public information, and the Company would not be required to publicly disclose such notice in any report or statement filed
with the SEC under the Exchange Act (including on Form 8-K) or the Securities Act. The Company shall pay all fees and expenses
in connection with satisfying its obligations under this Section 5(c). The Company shall take all action necessary
to ensure that its Common Stock can be transferred electronically as DWAC Shares.

 

(d)
Prohibition of Short Sales and Hedging Transactions. The Investor agrees that beginning on the date of this Agreement and
ending on the date of termination of this Agreement as provided in Section 11, the Investor and its agents, representatives
and affiliates shall not in any manner whatsoever enter into or effect, directly or indirectly, any (i) “short sale”
(as such term is defined in Rule 200 of Regulation SHO of the Exchange Act) of the Common Stock or (ii) hedging transaction, which
establishes a net short position with respect to the Common Stock.

 

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(e)
Issuance of Initial Commitment Shares. In consideration for the Investor’s execution and delivery of this Agreement,
the Company shall cause the Transfer Agent to issue on the date of this Agreement 81,263 shares of Common Stock (the “Initial
Commitment Shares”) directly to the Investor and shall deliver to the Transfer Agent the Irrevocable Transfer Agent
Instructions in the form as set forth in Exhibit E attached hereto. For the avoidance of doubt, all of the Initial Commitment
Shares shall be fully earned as of the date of this Agreement, whether or not the Commencement shall occur or any Purchase Shares
are purchased by the Investor under this Agreement and irrespective of any termination of this Agreement.

 

(f)
Issuance of Additional Commitment Shares. In connection with each Regular Purchase and each Accelerated Purchase of Purchase
Shares hereunder when the Available Amount is equal to or less than Five Million Dollars ($5,000,000) (the “Additional
Commitment Share Threshold”), the Company shall issue to the Investor a number of shares of Common Stock (the “Additional
Commitment Shares” and, together with the Initial Commitment Shares, the “Commitment Shares”) equal
to the product of (x) 40,937 and (y) the Purchase Amount Fraction. The “Purchase Amount Fraction” shall mean
a fraction, the numerator of which is the Purchase Amount purchased by the Investor with respect to such Regular Purchase and
Accelerated Purchase (as applicable) of Purchase Shares and the denominator of which is Five Million Dollars ($5,000,000); provided,
that in the event that a portion of the Purchase Amount is above the Additional Commitment Share Threshold, only the Purchase
Amount below the Additional Commitment Share Threshold shall be included in the Purchase Amount Fraction. The Additional Commitment
Shares shall be issued to the Investor on the same Business Day as Purchase Shares are issued to the Investor in connection with
the applicable Regular Purchase, Accelerated Purchase and Additional Accelerated Purchase (as applicable) in accordance with Section
2(d). In no event shall the number of the Additional Commitment Shares to be issued under this Agreement exceed 40,937 shares
of Common Stock, provided that such Additional Commitment Shares shall be equitably adjusted for any reorganization, recapitalization,
non-cash dividend, stock split or other similar transaction.

 

(g)
Due Diligence; Non-Public Information. The Investor shall have the right, from time to time as the Investor may reasonably
deem appropriate, to perform reasonable due diligence on the Company during normal business hours. The Company and its officers
and employees shall provide information and reasonably cooperate with the Investor in connection with any reasonable request by
the Investor related to the Investor’s due diligence of the Company. Each party hereto agrees not to disclose any Confidential
Information of the other party to any third party and shall not use the Confidential Information for any purpose other than in
connection with, or in furtherance of, the transactions contemplated hereby. Each party hereto acknowledges that the Confidential
Information shall remain the property of the disclosing party and agrees that it shall take all reasonable measures to protect
the secrecy of any Confidential Information disclosed by the other party. The Company confirms that neither it nor any other Person
acting on its behalf shall provide the Investor or its agents or counsel with any information that constitutes or might constitute
material, non-public information, unless a simultaneous public announcement thereof is made by the Company in the manner contemplated
by Regulation FD. In the event of a breach of the foregoing covenant by the Company or any Person acting on its behalf (as determined
in the reasonable good faith judgment of the Investor), in addition to any other remedy provided herein or in the other Transaction
Documents, the Investor shall have the right to make a public disclosure, in the form of a press release, public advertisement
or otherwise, of such material, non-public information without the prior approval by the Company; provided the Investor shall
have first provided notice to the Company that it believes it has received information that constitutes material, non-public information,
the Company shall have at least twenty-four (24) hours to either (i) demonstrate that such information is not material non-public
information to the satisfaction of the Investor or (ii) publicly disclose such material, non-public information prior to any such
disclosure by the Investor, and the Company shall have failed to publicly disclose such material, non-public information within
such time period. The Investor shall not have any liability to the Company, any of its Subsidiaries, or any of their respective
directors, officers, employees, stockholders or agents, for any such disclosure. The Company understands and confirms that the
Investor shall be relying on the foregoing covenants in effecting transactions in securities of the Company.

 

    	 	21	 

    	 	 	 

    

 

(h)
Purchase Records. The Investor and the
Company shall each maintain records showing the remaining Available Amount at any given time and the dates and Purchase Amounts
for each Regular Purchase, Accelerated Purchase and Additional Accelerated Purchase or shall use such other method, reasonably
satisfactory to the Investor and the Company.

 

(i)
Taxes. The Company shall pay any and all
transfer, stamp or similar taxes that may be payable with respect to the issuance and delivery of any shares of Common Stock to
the Investor made under this Agreement.

 

(j)
Aggregation. From and after the date of
this Agreement, neither the Company, nor or any of its affiliates will, and the Company shall use its reasonable best efforts
to ensure that no Person acting on their behalf will, directly or indirectly, make any offers or sales of any security or solicit
any offers to purchase any security, under circumstances that would cause this offering of the Securities by the Company to the
Investor to be aggregated with other offerings by the Company in a manner that would require stockholder approval pursuant to
the rules of the Principal Market on which any of the securities of the Company are listed or designated, unless stockholder approval
is obtained before the closing of such subsequent transaction in accordance with the rules of such Principal Market.

 

(k)
Use of Proceeds. The Company will use
the net proceeds from the offering for any corporate purpose at the sole discretion of the Company.

 

(l)
Other Transactions. During the term of
this Agreement, the Company shall not enter into, announce or recommend to its stockholders any agreement, plan, arrangement or
transaction in or of which the terms thereof would restrict, materially delay, conflict with or impair the ability or right of
the Company to perform its obligations under the Transaction Documents, including, without limitation, the obligation of the Company
to deliver the Purchase Shares and the Commitment Shares to the Investor in accordance with the terms of the Transaction Documents.

 

(m)
Integration. From and after the date of
this Agreement, neither the Company, nor or any of its affiliates will, and the Company shall use its reasonable best efforts
to ensure that no Person acting on their behalf will, directly or indirectly, make any offers or sales of any security or solicit
any offers to purchase any security, under circumstances that would require registration of the offer and sale of any of the Securities
under the Securities Act.

 

    	 	22	 

    	 	 	 

    

 

(n)
Limitation on Variable Rate Transactions.
Until the later of (i) the twenty-four (24) month anniversary of the date of this Agreement (irrespective of any earlier termination
of this Agreement) and (ii) the twenty-four (24) month anniversary of the Commencement Date, the Company shall be prohibited from
effecting or entering into an agreement to effect any issuance by the Company or any of its Subsidiaries of Common Stock or Common
Stock Equivalents (or a combination of units thereof) involving a Variable Rate Transaction, other than in connection with an
Exempt Issuance. “Common Stock Equivalents” means any securities of the Company or its Subsidiaries which entitle
the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, rights, options,
warrants or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the
holder thereof to receive, Common Stock. “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 or Common Stock Equivalents 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 (including,
without limitation, any “full ratchet” or “weighted average” anti-dilution provisions) or (ii) enters
into any agreement, including, but not limited to, an “equity line”, “at-the-market offering” or other
continuous offering or similar offering of Common Stock or Common Stock Equivalents, whereby the Company may sell Common Stock
or Common Stock Equivalents at a future determined price. “Exempt Issuance” means the issuance of (a) Common
Stock, options or such other equity awards to employees, officers, directors or vendors of the Company pursuant to any stock or
option plan duly adopted for such purpose, by the Board of Directors or a majority of the members of a committee of directors
established for such purpose, (b) securities upon the exercise or exchange of or conversion of any Securities issued hereunder
and/or other securities exercisable or exchangeable for or convertible into Common Stock issued and outstanding on the date of
this Agreement, provided that such securities have not been amended since the date of this Agreement to increase the number of
such securities or to decrease the exercise price, exchange price or conversion price of such securities, (c) securities in any
“at-the-market offering” with or conducted by a registered broker dealer and (d) securities issued pursuant to acquisitions
or strategic transactions approved by the Board of Directors or a majority of the members of a committee of directors established
for such purpose, which acquisitions or strategic transactions can have a Variable Rate Transaction component, provided that any
such issuance shall only be to a Person (or to the equity holders of a Person) which is, itself or through its subsidiaries, an
operating company or an asset in a business synergistic with the business of the Company and shall provide to the Company additional
benefits in addition to the investment of funds, but shall not include a transaction in which the Company is issuing securities
primarily for the purpose of raising capital or to an entity whose primary business is investing in securities.

 

	6.	TRANSFER
                                         AGENT INSTRUCTIONS.

 

(a)
On the date of this Agreement, the Company shall
issue irrevocable instructions to the Transfer Agent substantially in the form attached hereto as Exhibit C to issue
the Initial Commitment Shares in accordance with the terms of this Agreement (the “Irrevocable Transfer Agent Instructions”).
The certificate(s) or book-entry statement(s) representing the Commitment Shares, except as set forth below, shall bear the following
restrictive legend (the “Restrictive Legend”):

 

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 HAVE BEEN ACQUIRED FOR INVESTMENT AND MAY NOT BE OFFERED FOR SALE,
SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS, UNLESS SOLD PURSUANT TO: (1) RULE
144 UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (2) AN OPINION OF HOLDER’S COUNSEL,
IN A CUSTOMARY FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR APPLICABLE STATE SECURITIES LAWS.

 

    	 	23	 

    	 	 	 

    

 

(b)
On the earlier of (i) the Commencement Date and
(ii) such time that the Investor shall request, provided all conditions of Rule 144 under the Securities Act are met, the Company
shall, no later than one (1) Business Day following the delivery by the Investor to the Company or the Transfer Agent of one or
more legended certificates or book-entry statements representing the Initial Commitment Shares and/or Additional Commitment Shares
(which certificates or book-entry statement(s) the Investor shall promptly deliver on or prior to the first to occur of the events
described in clauses (i) and (ii) of this sentence), as directed by the Investor, issue and deliver (or cause to be issued and
delivered) to the Investor, as requested by the Investor, either: (A) a certificate or book-entry statement representing such
Initial Commitment Shares and/or Additional Commitment Shares that is free from all restrictive and other legends or (B) a number
of shares of Common Stock equal to the number of Initial Commitment Shares and/or Additional Commitment Shares represented by
the certificate(s) or book-entry statement(s) so delivered by the Investor as DWAC Shares. The Company shall take all actions
to carry out the intent and accomplish the purposes of the immediately preceding sentence, including, without limitation, delivering
all such legal opinions, consents, certificates, resolutions and instructions to the Transfer Agent, and any successor transfer
agent of the Company, as may be requested from time to time by the Investor or necessary or desirable to carry out the intent
and accomplish the purposes of the immediately preceding sentence. On the Commencement Date, the Company shall issue to the Transfer
Agent, and any subsequent transfer agent, (i) irrevocable instructions in the form substantially similar to those used by the
Investor in substantially similar transactions (the “Commencement Irrevocable Transfer Agent Instructions”)
and (ii) the notice of effectiveness of the Registration Statement in the form attached as an exhibit to the Registration Rights
Agreement (the “Notice of Effectiveness of Registration Statement”), in each case to issue the Additional Commitment
Shares and the Purchase Shares in accordance with the terms of this Agreement and the Registration Rights Agreement. All Purchase
Shares to be issued from and after Commencement to or for the benefit of the Investor pursuant to this Agreement shall be issued
only as DWAC Shares. The Company represents and warrants to the Investor that, while this Agreement is effective, no instruction
other than the Commencement Irrevocable Transfer Agent Instructions and the Notice of Effectiveness of Registration Statement
referred to in this Section 6(b) will be given by the Company to the Transfer Agent with respect to the Initial
Commitment Shares, the Additional Commitment Shares or the Purchase Shares from and after Commencement, and the Initial Commitment
Shares, the Additional Commitment Shares and the Purchase Shares covered by the Registration Statement shall otherwise be freely
transferable on the books and records of the Company. The Company agrees that if the Company fails to fully comply with the provisions
of this Section 6(b) within five (5) Business Days of the Investor providing the deliveries referred to above, the
Company shall, at the Investor’s written instruction, purchase such shares of Common Stock containing the Restrictive Legend
from the Investor at the greater of the (i) Purchase Price or Accelerated Purchase Price paid for such shares of Common Stock
(as applicable) and (ii) the Closing Sale Price of the Common Stock on the date of the Investor’s written instruction.

 

	7.	CONDITIONS
                                         TO THE COMPANY’S RIGHT TO COMMENCE

 

SALES
OF SHARES OF COMMON STOCK.

 

The
right of the Company hereunder to commence sales of the Purchase Shares as of the Commencement Date is subject to the satisfaction
of each of the following conditions:

 

(a)
The Investor shall have executed each of the
Transaction Documents and delivered the same to the Company;

 

(b)
The Registration Statement covering the resale
of the Commitment Shares and Purchase Shares shall have been declared effective under the Securities Act by the SEC and no stop
order with respect to the Registration Statement shall be pending or threatened by the SEC;

 

(c)
All Securities to be issued by the Company to
the Investor under the Transaction Documents shall have been approved for listing on the Principal Market in accordance with the
applicable rules and regulations of the Principal Market, subject only to official notice of issuance; and

 

    	 	24	 

    	 	 	 

    

 

(d)
The representations and warranties of the Investor
shall be true and correct in all material respects as of the date hereof and as of the Commencement Date as though made at that
time.

 

	8.	CONDITIONS
                                         TO THE INVESTOR’S OBLIGATION TO PURCHASE SHARES OF COMMON STOCK.

 

The
obligation of the Investor to buy Purchase Shares under this Agreement is subject to the satisfaction of each of the following
conditions on or prior to the Commencement Date and, once such conditions have been initially satisfied, there shall not be any
ongoing obligation to satisfy such conditions after the Commencement has occurred:

 

(a)
The Company shall have executed each of the Transaction
Documents and delivered the same to the Investor;

 

(b)
The Company shall have issued or caused to be
issued to the Investor (i) one or more certificates or book-entry statements representing the Initial Commitment Shares free from
all restrictive and other legends or (ii) a number of shares of Common Stock equal to the number of Initial Commitment Shares
as DWAC Shares, in each case in accordance with Section 5(e) and Section 6(b);

 

(c)
The Common Stock shall be listed or quoted on
the Principal Market, trading in the Common Stock shall not have been suspended by the SEC or the Principal Market within the
last 365 days, and all Securities to be issued by the Company to the Investor pursuant to this Agreement shall have been approved
for listing or quotation on the Principal Market in accordance with the applicable rules and regulations of the Principal Market,
as then in effect, subject only to official notice of issuance;

 

(d)
The Investor shall have received the opinions
of the Company’s legal counsel dated as of the Commencement Date substantially in the form agreed by the parties hereto;

 

(e)
The representations and warranties of the Company
shall be true and correct in all material respects (except to the extent that any of such representations and warranties is already
qualified as to materiality in Section 4 above, in which case, such representations and warranties shall be true and correct
without further qualification) as of the date hereof and as of the Commencement Date as though made at that time (except for representations
and warranties that speak as of a specific date, which shall be true and correct as of such date) and the Company shall have performed,
satisfied and complied with the covenants, agreements and conditions required by the Transaction Documents to be performed, satisfied
or complied with by the Company at or prior to the Commencement Date. The Investor shall have received a certificate, executed
by the CEO, President or CFO of the Company, dated as of the Commencement Date, to the foregoing effect in the form attached hereto
as Exhibit A;

 

(f) The
Board of Directors of the Company shall have adopted resolutions in the form previously provided to the Investor which shall
be in full force and effect without any amendment or supplement thereto as of the Commencement Date;

 

(g)
As of the Commencement Date, the Company shall
have reserved out of its authorized and unissued Common Stock, (i) solely for the purpose of effecting purchases of Purchase Shares
hereunder, 2,922,837 shares of Common Stock; and (ii) solely for the purpose of effecting the issuance of Additional Commitment
Shares hereunder 40,937 shares of Common Stock;

 

(h)
The Commencement Irrevocable Transfer Agent Instructions
and the Notice of Effectiveness of Registration Statement each shall have been delivered to and acknowledged in writing by the
Company and the Company’s Transfer Agent (or any successor transfer agent);

 

    	 	25	 

    	 	 	 

    

 

(i)
The Company shall have delivered to the Investor
(i) a certificate evidencing the incorporation and good standing of the Company in the State of Delaware issued by the Secretary
of State of the State of Delaware and (ii) a certificate or its equivalent evidencing the good standing of the Company as a foreign
corporation in the State of Vermont, issued by the Secretary of State of the State of Vermont, and in any other jurisdiction where
the Company is duly qualified to conduct business, in each case, as of a date within ten (10) Business Days of the Commencement
Date;

 

(j)
The Company shall have delivered to the Investor
a certified copy of the Certificate of Incorporation as certified by the Secretary of State of the State of Delaware within ten
(10) Business Days of the Commencement Date;

 

(k)
The Company shall have delivered to the Investor
a secretary’s certificate executed by the Secretary of the Company, dated as of the Commencement Date, in the form attached
hereto as Exhibit B;

 

(l)
The Registration Statement covering the resale
of the Commitment Shares and Purchase Shares shall have been declared effective under the Securities Act by the SEC and no stop
order with respect to the Registration Statement shall be pending or threatened by the SEC. The Company shall have prepared and
filed with the SEC, not later than one (1) Business Day after the effective date of the Registration Statement, a final and complete
prospectus (the preliminary form of which shall be included in the Registration Statement) and shall have delivered to the Investor
a true and complete copy thereof. Such prospectus shall be current and available for the resale by the Investor of all of the
Securities covered thereby. The Current Report shall have been filed with the SEC, as required pursuant to Section 5(a).
All reports, schedules, registrations, forms, statements, information and other documents required to have been filed by the Company
with the SEC at or prior to the Commencement Date pursuant to the reporting requirements of the Exchange Act shall have been filed
with the SEC within the applicable time periods prescribed for such filings under the Exchange Act;

 

(m)
No Event of Default has occurred, or any event
which, after notice and/or lapse of time, would become an Event of Default has occurred;

 

(n)
All federal, state and local governmental laws,
rules and regulations applicable to the transactions contemplated by the Transaction Documents and necessary for the execution,
delivery and performance of the Transaction Documents and the consummation of the transactions contemplated thereby in accordance
with the terms thereof shall have been complied with, and all consents, authorizations and orders of, and all filings and registrations
with, all federal, state and local courts or governmental agencies and all federal, state and local regulatory or self-regulatory
agencies necessary for the execution, delivery and performance of the Transaction Documents and the consummation of the transactions
contemplated thereby in accordance with the terms thereof shall have been obtained or made, including, without limitation, in
each case those required under the Securities Act, the Exchange Act, applicable state securities or “Blue Sky” laws
or applicable rules and regulations of the Principal Market, or otherwise required by the SEC, the Principal Market or any state
securities regulators;

 

(o)
No statute, regulation, order, decree, writ,
ruling or injunction shall have been enacted, entered, promulgated, threatened or endorsed by any federal, state, local or foreign
court or governmental authority of competent jurisdiction which prohibits the consummation of or which would materially modify
or delay any of the transactions contemplated by the Transaction Documents; and

 

(p)
No action, suit or proceeding before any federal,
state, local or foreign arbitrator or any court or governmental authority of competent jurisdiction shall have been commenced
or threatened, and no inquiry or investigation by any federal, state, local or foreign governmental authority of competent jurisdiction
shall have been commenced or threatened, against the Company, or any of the officers, directors or affiliates of the Company,
seeking to restrain, prevent or change the transactions contemplated by the Transaction Documents, or seeking material damages
in connection with such transactions.

 

    	 	26	 

    	 	 	 

    

 

	9.	INDEMNIFICATION.

 

In
consideration of the Investor’s execution and delivery of the Transaction Documents and acquiring the Securities hereunder
and in addition to all of the Company’s other obligations under the Transaction Documents, the Company shall defend, protect,
indemnify and hold harmless the Investor and all of its affiliates, stockholders, officers, directors, members, managers, employees
and direct or indirect investors and any of the foregoing Person’s agents or other representatives (including, without limitation,
those retained in connection with the transactions contemplated by this Agreement) (collectively, the “Indemnitees”)
from and against any and all actions, causes of action, suits, claims, losses, costs, penalties, fees, liabilities and damages,
and expenses in connection therewith (irrespective of whether any such Indemnitee is a party to the action for which indemnification
hereunder is sought), and including reasonable attorneys’ fees and disbursements (the “Indemnified Liabilities”),
incurred by any Indemnitee as a result of, or arising out of, or relating to (a) any misrepresentation or breach of any representation
or warranty made by the Company in the Transaction Documents or any other certificate, instrument or document contemplated hereby
or thereby, (b) any breach of any covenant, agreement or obligation of the Company contained in the Transaction Documents or any
other certificate, instrument or document contemplated hereby or thereby, or (c) any cause of action, suit or claim brought or
made against such Indemnitee and arising out of or resulting from the execution, delivery, performance or enforcement of the Transaction
Documents or any other certificate, instrument or document contemplated hereby or thereby, other than, in the case of clause (c),
with respect to Indemnified Liabilities which directly and primarily result from the fraud, gross negligence or willful misconduct
of an Indemnitee. The indemnity in this Section 9 shall not apply to amounts paid in settlement of any claim if such settlement
is effected without the prior written consent of the Company, which consent shall not be unreasonably withheld, conditioned or
delayed. To the extent that the foregoing undertaking by the Company may be unenforceable for any reason, the Company shall make
the maximum contribution to the payment and satisfaction of each of the Indemnified Liabilities which is permissible under applicable
law. Payment under this indemnification shall be made within thirty (30) days from the date the Investor makes written request
for it. A certificate containing reasonable detail as to the amount of such indemnification submitted to the Company by the Investor
shall be conclusive evidence, absent manifest error, of the amount due from the Company to the Investor. If any action shall be
brought against any Indemnitee in respect of which indemnity may be sought pursuant to this Agreement, such Indemnitee shall promptly
notify the Company in writing, and the Company shall have the right to assume the defense thereof with counsel of its own choosing
reasonably acceptable to the Indemnitee. Any Indemnitee shall have the right to employ separate counsel in any such action and
participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnitee, except
to the extent that (i) the employment thereof has been specifically authorized by the Company in writing, (ii) the Company has
failed after a reasonable period of time to assume such defense and to employ counsel or (iii) in such action there is, in the
reasonable opinion of such separate counsel, a material conflict on any material issue between the position of the Company and
the position of such Indemnitee, in which case the Company shall be responsible for the reasonable fees and expenses of no more
than one such separate counsel.

 

    	 	27	 

    	 	 	 

    

 

	10.	EVENTS
                                         OF DEFAULT.

 

An
“Event of Default” shall be deemed to have occurred at any time as any of the following events occurs:

 

(a)
the effectiveness of a registration statement
registering the resale of the Securities lapses for any reason (including, without limitation, the issuance of a stop order or
similar order) or such registration statement (or the prospectus forming a part thereof) is unavailable to the Investor for resale
of any or all of the Securities to be issued to the Investor under the Transaction Documents, and such lapse or unavailability
continues for a period of ten (10) consecutive Business Days or for more than an aggregate of thirty (30) Business Days in any
365-day period, but excluding a lapse or unavailability where (i) the Company terminates a registration statement after the Investor
has confirmed in writing that all of the Securities covered thereby have been resold or (ii) the Company supersedes one registration
statement with another registration statement, including (without limitation) by terminating a prior registration statement when
it is effectively replaced with a new registration statement covering Securities (provided in the case of this clause (ii) that
all of the Securities covered by the superseded (or terminated) registration statement that have not theretofore been resold are
included in the superseding (or new) registration statement);

 

(b)
the suspension of the Common Stock from trading
on the Principal Market for a period of one (1) Business Day, provided that the Company may not direct the Investor to purchase
any shares of Common Stock during any such suspension;

 

(c)
the delisting of the Common Stock from The Nasdaq
Capital Market, provided, however, that the Common Stock is not immediately thereafter trading on the New York Stock Exchange,
The Nasdaq Global Market, The Nasdaq Global Select Market, the NYSE American, the NYSE Arca, the OTC Bulletin Board, the OTCQX
operated by the OTC Markets Group, Inc., the OTCQB operated by the OTC Markets Group, Inc. or such other nationally recognized
trading market (or nationally recognized successor to any of the foregoing);

 

(d)
If at any time after the Commencement Date, the
Exchange Cap is reached unless and until stockholder approval is obtained pursuant to Section 2(f) hereof. The Exchange
Cap shall be deemed to be reached at such time if, upon submission of a Regular Purchase Notice or Accelerated Purchase Notice
under this Agreement, the issuance of such shares of Common Stock would exceed that number of shares of Common Stock which the
Company may issue without breaching the Company’s obligations under the rules or regulations of the Principal Market;

 

(e)
the failure for any reason by the Transfer Agent
to issue (i) the Additional Commitment Shares to the Investor within three (3) Business Days after the date on which the Investor
is entitled to receive such Additional Commitment Shares pursuant to Section 5(f) hereof and (ii) Purchase Shares to the
Investor within three (3) Business Days after the applicable Purchase Date, Accelerated Purchase Date or Additional Accelerated
Purchase Date (as applicable) on which the Investor is entitled to receive such Purchase Shares;

 

(f)
the Company breaches any representation, warranty,
covenant or other term or condition under any Transaction Document if such breach could have a Material Adverse Effect and except,
in the case of a breach of a covenant which is reasonably curable, only if such breach continues for a period of at least five
(5) Business Days;

 

(g)
if any Person commences a proceeding against
the Company pursuant to or within the meaning of any Bankruptcy Law;

 

(h)
if the Company, pursuant to or within the meaning
of any Bankruptcy Law, (i) commences a voluntary case, (ii) consents to the entry of an order for relief against it in an involuntary
case, (iii) consents to the appointment of a Custodian of it or for all or substantially all of its property, or (iv) makes a
general assignment for the benefit of its creditors or is generally unable to pay its debts as the same become due;

 

    	 	28	 

    	 	 	 

    

 

(i)
a court of competent jurisdiction enters an order
or decree under any Bankruptcy Law that (i) is for relief against the Company in an involuntary case, (ii) appoints a Custodian
of the Company or for all or substantially all of its property, or (iii) orders the liquidation of the Company or any Subsidiary;
or

 

(j)
if at any time the Company is not eligible to
transfer its Common Stock electronically as DWAC Shares.

 

In
addition to any other rights and remedies under applicable law and this Agreement, so long as an Event of Default has occurred
and is continuing, or if any event which, after notice and/or lapse of time, would become an Event of Default, has occurred and
is continuing, the Company shall not deliver to the Investor any Regular Purchase Notice or Accelerated Purchase Notice.

 

	11.	TERMINATION

 

This
Agreement may be terminated only as follows:

 

(a)
If pursuant to or within the meaning of any Bankruptcy
Law, the Company commences a voluntary case or any Person commences a proceeding against the Company, a Custodian is appointed
for the Company or for all or substantially all of its property, or the Company makes a general assignment for the benefit of
its creditors (any of which would be an Event of Default as described in Sections 10(g), 10(h) and
10(i) hereof), this Agreement shall automatically terminate without any liability or payment to the Company (except
as set forth below) without further action or notice by any Person.

 

(b) In
the event that the Commencement shall not have occurred on or before October 31, 2019, due to the failure to satisfy the
conditions set forth in Sections 7 and 8 above with respect to the Commencement, either the Company or the
Investor shall have the option to terminate this Agreement at the close of business on such date or thereafter without
liability of any party to any other party (except as set forth below); provided, however, that the right to terminate this
Agreement under this Section 11(b) shall not be available to any party if such party is then in breach of any
covenant or agreement contained in this Agreement or any representation or warranty of such party contained in this Agreement
fails to be true and correct such that the conditions set forth in Section 7(d) or Section 8(e),
as applicable, could not then be satisfied.

 

(c)
At any time after the Commencement Date, the
Company shall have the option to terminate this Agreement for any reason or for no reason by delivering notice (a “Company
Termination Notice”) to the Investor electing to terminate this Agreement without any liability whatsoever of any party
to any other party under this Agreement (except as set forth below). The Company Termination Notice shall not be effective until
one (1) Business Day after it has been received by the Investor.

 

(d)
This Agreement shall automatically terminate
on the date that the Company sells and the Investor purchases the full Available Amount as provided herein, without any action
or notice on the part of any party and without any liability whatsoever of any party to any other party under this Agreement (except
as set forth below).

 

(e)
If, for any reason or for no reason, the full
Available Amount has not been purchased in accordance with Section 2 of this Agreement by the Maturity Date, this Agreement
shall automatically terminate on the Maturity Date, without any action or notice on the part of any party and without any liability
whatsoever of any party to any other party under this Agreement (except as set forth below).

 

    	 	29	 

    	 	 	 

    

 

Except
as set forth in Sections 11(a) (in respect of an Event of Default under Sections 10(g), 10(h)
and 10(i)), 11(d) and 11(e), any termination of this Agreement pursuant to this Section
11 shall be effected by written notice from the Company to the Investor, or the Investor to the Company, as the case may be,
setting forth the basis for the termination hereof. The representations and warranties and covenants of the Company and the Investor
contained in Sections 3, 4, 5, and 6 hereof, the indemnification provisions set forth in Section
9 hereof and the agreements and covenants set forth in Sections 10, 11 and 12 shall survive the Commencement
and any termination of this Agreement. No termination of this Agreement shall (i) affect the Company’s or the Investor’s
rights or obligations under (A) this Agreement with respect to pending Regular Purchases, Accelerated Purchases, and Additional
Accelerated Purchases and the Company and the Investor shall complete their respective obligations with respect to any pending
Regular Purchases, Accelerated Purchases and Additional Accelerated Purchases under this Agreement and (B) the Registration Rights
Agreement, which shall survive any such termination, or (ii) be deemed to release the Company or the Investor from any liability
for intentional misrepresentation or willful breach of any of the Transaction Documents.

 

	12.	MISCELLANEOUS.

 

(a)
Governing Law; Jurisdiction; Jury Trial.
The corporate laws of the State of Delaware shall govern all issues concerning the relative rights of the Company and its stockholders.
All other questions concerning the construction, validity, enforcement and interpretation of this Agreement and the other Transaction
Documents shall be governed by the internal laws of the State of New York, without giving effect to any choice of law or conflict
of law provision or rule (whether of the State of New York or any other jurisdictions) that would cause the application of the
laws of any jurisdictions other than the State of New York. Each party hereby irrevocably submits to the exclusive jurisdiction
of the state and federal courts sitting in the State of New York, Borough of Manhattan, for the adjudication of any dispute hereunder
or under the other Transaction Documents or in connection herewith or therewith, 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 brought in an inconvenient
forum or that the venue of such suit, action or proceeding is improper. 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 to such party
at the address for such 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
manner permitted by law. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST,
A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION HEREWITH OR ARISING OUT OF THIS AGREEMENT OR ANY
TRANSACTION CONTEMPLATED HEREBY.

 

(b)
Counterparts. This Agreement may be executed
in two or more identical counterparts, all of which shall be considered one and the same agreement and shall become effective
when counterparts have been signed by each party and delivered to the other party; provided that a facsimile signature or signature
delivered by e-mail in a “.pdf” format data file shall be considered due execution and shall be binding upon the signatory
thereto with the same force and effect as if the signature were an original signature.

 

(c)
Headings. The headings of this Agreement
are for convenience of reference and shall not form part of, or affect the interpretation of, this Agreement.

 

    	 	30	 

    	 	 	 

    

 

(d)
Severability. If any provision of this
Agreement shall be invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall not affect the validity
or enforceability of the remainder of this Agreement in that jurisdiction or the validity or enforceability of any provision of
this Agreement in any other jurisdiction.

 

(e)
Entire Agreement. The Transaction Documents
supersede all other prior oral or written agreements between the Investor, the Company, their affiliates and Persons acting on
their behalf with respect to the subject matter thereof, and this Agreement, the other Transaction Documents and the instruments
referenced herein contain the entire understanding of the parties with respect to the matters covered herein and therein and,
except as specifically set forth herein or therein, neither the Company nor the Investor makes any representation, warranty, covenant
or undertaking with respect to such matters. The Company acknowledges and agrees that is has not relied on, in any manner whatsoever,
any representations or statements, written or oral, other than as expressly set forth in the Transaction Documents.

 

(f)
Notices. Any notices, consents or other
communications required or permitted to be given under the terms of this Agreement must be in writing and will be deemed to have
been delivered: (i) upon receipt when delivered personally; (ii) upon receipt when sent by facsimile or email (provided confirmation
of transmission is mechanically or electronically generated and kept on file by the sending party); or (iii) one Business Day
after deposit with a nationally recognized overnight delivery service, in each case properly addressed to the party to receive
the same. The addresses for such communications shall be:

 

If
to the Company:

 

The
Peck Company Holdings, Inc.

4050
Williston Road, Suite 511

South
Burlington, VT 05403

	 	Telephone:	802.658.3378
	 	E-mail:	john@peckcompany.com
	 	Attention:	John Sullivan

 

With
a copy to (which shall not constitute notice or service of process):

 

Sullivan
& Worcester LLP

1633
Broadway, 32nd Floor

New
York, NY 10019

	 	Tel:	212.660.3000
	 	E-mail:	ddanovitch@sullivanlaw.com
	 	Attention:	David E. Danovitch, Esq.

 

If
to the Investor:

 

Lincoln
Park Capital Fund, LLC

440
North Wells, Suite 410

Chicago,
IL 60654

	 	Telephone:	312.822.9300
	 	Facsimile:	312.822.9301
	 	E-mail:	jscheinfeld@lpcfunds.com/jcope@lpcfunds.com
	 	Attention:	Josh Scheinfeld/Jonathan Cope

 

    	 	31	 

    	 	 	 

    

 

With
a copy to (which shall not constitute notice or service of process):

 

K&L
Gates, LLP

200
S. Biscayne Blvd., Ste. 3900

Miami,
Florida 33131

	 	Telephone:	305.539.3306
	 	Facsimile:	305.358.7095
	 	E-mail:	clayton.parker@klgates.com
	 	Attention:	Clayton E. Parker, Esq.

 

If
to the Transfer Agent:

 

Continental
Stock Transfer & Trust

1
State Street 30th Floor

New
York, NY 10004-1561

	 	Tel:	212.845.3277
	 	E-mail:	hfarrell@continentalstock.com
	 	Attention:	Henry Farrell

 

or
at such other address and/or facsimile number and/or to the attention of such other Person as the recipient party has specified
by written notice given to each other party three (3) Business Days prior to the effectiveness of such change. Written confirmation
of receipt (A) given by the recipient of such notice, consent or other communication, (B) mechanically or electronically generated
by the sender’s facsimile machine or email account containing the time, date, and recipient facsimile number or email address,
as applicable, and an image of the first page of such transmission or (C) provided by a nationally recognized overnight delivery
service, shall be rebuttable evidence of personal service, receipt by facsimile, email or receipt from a nationally recognized
overnight delivery service in accordance with clause (i), (ii) or (iii) above, respectively.

 

(g)
Successors and Assigns. This Agreement
shall be binding upon and inure to the benefit of the parties and their respective successors and assigns. The Company shall not
assign this Agreement or any rights or obligations hereunder without the prior written consent of the Investor, including by merger
or consolidation. The Investor may not assign its rights or obligations under this Agreement.

 

(h)
No Third Party Beneficiaries. This Agreement
is intended for the benefit of the parties hereto and their respective permitted successors and assigns, and is not for the benefit
of, nor may any provision hereof be enforced by, any other Person.

 

(i)
Publicity. The Company shall afford the
Investor and its counsel with the opportunity to review and comment upon, shall consult with the Investor and its counsel on the
form and substance of, and shall give due consideration to all such comments from the Investor or its counsel on, any press release,
SEC filing or any other public disclosure by or on behalf of the Company relating to the Investor, its purchases hereunder or
any aspect of the Transaction Documents or the transactions contemplated thereby, not less than 24 hours prior to the issuance,
filing or public disclosure thereof. The Investor must be provided with a final version of any such press release, SEC filing
or other public disclosure at least 24 hours prior to any release, filing or use by the Company thereof; provided however, that
the Company’s obligations pursuant to this Section 12(i) shall not apply if the form and substance of such press
release, SEC filing, or other public disclosure relating to the Investor, its purchases hereunder or any aspect of the Transaction
Documents or the transactions contemplated thereby previously have been publicly disclosed by the Company in compliance with this
Section 12(i). The Company agrees and acknowledges that its failure to fully comply with this provision constitutes a Material
Adverse Effect.

 

    	 	32	 

    	 	 	 

    

 

(j)
Further Assurances. Each party shall do
and perform, or cause to be done and performed, all such further acts and things, and shall execute and deliver all such other
agreements, certificates, instruments and documents, as the other party may reasonably request in order to consummate and make
effective, as soon as reasonably possible, the Commencement, and to carry out the intent and accomplish the purposes of this Agreement
and the consummation of the transactions contemplated hereby.

 

(k)
No Financial Advisor, Placement Agent,
Broker or Finder. The Company represents and warrants to the Investor that it has not engaged any financial advisor, placement
agent, broker or finder in connection with the transactions contemplated hereby. The Investor represents and warrants to the Company
that it has not engaged any financial advisor, placement agent, broker or finder in connection with the transactions contemplated
hereby. The Company shall be responsible for the payment of any fees or commissions, if any, of any financial advisor, placement
agent, broker or finder relating to or arising out of the transactions contemplated hereby. The Company shall pay, and hold the
Investor harmless against, any liability, loss or expense (including, without limitation, attorneys’ fees and out of pocket
expenses) arising in connection with any such claim.

 

(l)
No Strict Construction. The language used
in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent, and no rules of strict
construction will be applied against any party.

 

(m)
Remedies, Other Obligations, Breaches
and Injunctive Relief. The Investor’s remedies provided in this Agreement, including, without limitation, the Investor’s
remedies provided in Section 9, shall be cumulative and in addition to all other remedies available to the Investor under this
Agreement, at law or in equity (including a decree of specific performance and/or other injunctive relief), no remedy of the Investor
contained herein shall be deemed a waiver of compliance with the provisions giving rise to such remedy and nothing herein shall
limit the Investor’s right to pursue actual damages for any failure by the Company to comply with the terms of this Agreement.
The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Investor 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 Investor 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.

 

(n)
Enforcement Costs. If: (i) this Agreement
is placed by the Investor in the hands of an attorney for enforcement or is enforced by the Investor through any legal proceeding;
(ii) an attorney is retained to represent the Investor in any bankruptcy, reorganization, receivership or other proceedings affecting
creditors’ rights and involving a claim under this Agreement; or (iii) an attorney is retained to represent the Investor
in any other proceedings whatsoever in connection with this Agreement, then the Company shall pay to the Investor, as incurred
by the Investor, all reasonable costs and expenses including attorneys’ fees incurred in connection therewith, in addition
to all other amounts due hereunder.

 

(o)
Amendment and Waiver; Failure or Indulgence
Not Waiver. No provision of this Agreement may be amended or waived by the parties from and after the date that is one (1)
Business Day immediately preceding the filing of the Registration Statement with the SEC. Subject to the immediately preceding
sentence, (i) no provision of this Agreement may be amended other than by a written instrument signed by both parties hereto and
(ii) no provision of this Agreement may be waived other than in a written instrument signed by the party against whom enforcement
of such waiver is sought. No failure or delay in the exercise of any power, right or privilege hereunder shall operate as a waiver
thereof, nor shall any single or partial exercise of any such power, right or privilege preclude other or further exercise thereof
or of any other right, power or privilege.

 

(p)
Adjustments for Share Splits. The parties
acknowledge and agree that all share-related numbers contained in this Agreement shall be adjusted to take into account any reorganization,
recapitalization, non-cash dividend, stock split or other similar transaction effected with respect to the Common Stock except
as specifically stated herein.

 

**
Signature Page Follows **

 

    	 	33	 

    	 	 	 

    

 

IN
WITNESS WHEREOF, the Investor and the Company have caused this Purchase Agreement to be duly executed as of the date first
written above.

 

	 	THE COMPANY:
	 	 
	 	THE PECK COMPANY HOLDINGS, INC.
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	INVESTOR:
	 	 
	 	LINCOLN PARK CAPITAL FUND, LLC
	 	BY: LINCOLN PARK CAPITAL, LLC
	 	BY:
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	President

 

    	 	34	 

    	 	 	 

    

 

SCHEDULES

 

	Schedule
    4(a)	Subsidiaries

 

EXHIBITS

 

	Exhibit
    A	Form
    of Officer’s Certificate
	Exhibit
    B	Form
    of Secretary’s Certificate
	Exhibit
    C	Form
    of Letter to Transfer Agent

 

    	 	35	 

    	 	 	 

    

 

DISCLOSURE
SCHEDULES

 

Schedule
4(a) – Subsidiaries

 

Peck
Electric Co.

 

    	 	36	 

    	 	 	 

    

 

EXHIBIT
A

 

FORM
OF OFFICER’S CERTIFICATE

 

This
Officer’s Certificate (“Certificate”) is being delivered pursuant to Section 8(e) of that certain
Purchase Agreement dated as of September 26, 2019, (“Purchase Agreement”), by and between THE PECK COMPANY
HOLDINGS, INC., a Delaware corporation (the “Company”), and LINCOLN PARK CAPITAL FUND, LLC (the
“Investor”). Terms used herein and not otherwise defined shall have the meanings ascribed to them in the Purchase
Agreement.

 

The
undersigned, ___________, ______________ of the Company, hereby certifies, on behalf of the Company and not in his individual
capacity, as follows:

 

1.
I am the _____________ of the Company and make the statements contained in this Certificate;

 

2.
The representations and warranties of the Company in the Purchase Agreement are true and correct in all material respects (except
to the extent that any of such representations and warranties is already qualified as to materiality in Section 4 of the Purchase
Agreement, in which case, such representations and warranties are true and correct without further qualification) as of the date
when made and as of the Commencement Date as though made at that time (except for representations and warranties that speak as
of a specific date, in which case such representations and warranties are true and correct as of such date);

 

3.
The Company has performed, satisfied and complied in all material respects with the covenants, agreements and conditions required
by the Transaction Documents to be performed, satisfied or complied with by the Company at or prior to the Commencement Date.

 

4.
The Company has not taken any steps, and does not currently expect to take any steps, to seek protection pursuant to any Bankruptcy
Law nor does the Company or any of its Subsidiaries have any knowledge or reason to believe that its creditors intend to initiate
involuntary bankruptcy or insolvency proceedings.

 

IN
WITNESS WHEREOF, I have hereunder signed my name on this ___ day of ___________.

 

______________________

Name:

Title:

 

The
undersigned as Secretary of THE PECK COMPANY HOLDINGS, INC., a Delaware corporation, hereby certifies that ___________
is the duly elected, appointed, qualified and acting ________ of _________ and that the signature appearing above is his genuine
signature.

 

___________________________________

Secretary

 

    	 	37	 

    	 	 	 

    

 

EXHIBIT
B

 

FORM
OF SECRETARY’S CERTIFICATE

 

This
Secretary’s Certificate (“Certificate”) is being delivered pursuant to Section 8(k) of that certain Purchase
Agreement dated as of September 26, 2019 (“Purchase Agreement”), by and between THE PECK COMPANY HOLDINGS, INC.,
a Delaware corporation (the “Company”) and LINCOLN PARK CAPITAL FUND, LLC (the “Investor”), pursuant
to which the Company may sell to the Investor up to Fifteen Million Dollars ($15,000,000) of the Company’s Common Stock,
$0.0001 par value per share (the “Common Stock”). Terms used herein and not otherwise defined shall have the meanings
ascribed to them in the Purchase Agreement.

 

The
undersigned, ____________, Secretary of the Company, hereby certifies, on behalf of the Company and not in his individual capacity,
as follows:

 

1.
I am the Secretary of the Company and make the statements contained in this Secretary’s Certificate.

 

2.
Attached hereto as Exhibit A and Exhibit B are true, correct and complete copies of the Company’s Bylaws (“Bylaws”)
and Certificate of Incorporation (“Charter”), in each case, as amended through the date hereof, and no action has
been taken by the Company, its directors, officers or stockholders, in contemplation of the filing of any further amendment relating
to or affecting the Bylaws or Charter.

 

3.
Attached hereto as Exhibit C are true, correct and complete copies of the resolutions duly adopted by the Board of Directors
of the Company on _____________, at which a quorum was present and acting throughout. Such resolutions have not been amended,
modified or rescinded and remain in full force and effect and such resolutions are the only resolutions adopted by the Company’s
Board of Directors, or any committee thereof, or the stockholders of the Company relating to or affecting (i) the entering into
and performance of the Purchase Agreement, or the issuance, offering and sale of the Purchase Shares and the Commitment Shares
and (ii) and the performance of the Company of its obligation under the Transaction Documents as contemplated therein.

 

4.
As of the date hereof, the authorized, issued and reserved capital stock of the Company is as set forth on Exhibit D hereto.

 

IN
WITNESS WHEREOF, I have hereunder signed my name on this ___ day of ____________.

 

_________________________

Secretary

 

The
undersigned as ___________ of THE PECK COMPANY HOLDINGS, INC., a Delaware corporation, hereby certifies that ____________
is the duly elected, appointed, qualified and acting Secretary of _________, and that the signature appearing above is his genuine
signature.

 

_______________________________

 

    	 	38	 

    	 	 	 

    

 

EXHIBIT
C

 

FORM
OF LETTER TO THE TRANSFER AGENT FOR THE ISSUANCE OF THE COMMITMENT SHARES AT SIGNING OF THE PURCHASE AGREEMENT

 

[COMPANY
LETTERHEAD]

 

September
26, 2019

 

VIA
EMAIL TO: hfarrell@continentalstock.com

 

Continental
Stock Transfer & Trust

1
State Street 30th Floor

New
York, NY 10004-1561

	Tel:	212.845.3277
	E-mail:	hfarrell@continentalstock.com
	Attention:	Henry Farrell

 

Re:
Issuance of Common Stock to Lincoln Park Capital Fund, LLC

 

Dear
Mr. Farrell,

 

On
behalf of THE PECK COMPANY HOLDINGS, INC., (the “Company”), you are hereby instructed to issue as soon
as possible a share certificate representing an aggregate of 81,263 shares of our common stock in the name of Lincoln
Park Capital Fund, LLC. The share certificate should be dated September 26, 2019. I have included a true and correct copy
of a unanimous written consent executed by all of the members of the Board of Directors of the Company adopting resolutions approving
the issuance of these shares. The share certificate should bear the following restrictive legend:

 

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 HAVE BEEN ACQUIRED FOR INVESTMENT AND MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR
ASSIGNED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED,
OR APPLICABLE STATE SECURITIES LAWS, UNLESS SOLD PURSUANT TO: (1) RULE 144 UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (2)
AN OPINION OF HOLDER’S COUNSEL, IN A CUSTOMARY FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR APPLICABLE STATE
SECURITIES LAWS.

 

    	 	39	 

    	 	 	 

    

 

The
share certificate should be sent as soon as possible via overnight mail to the following address:

 

Lincoln
Park Capital Fund, LLC

440
North Wells, Suite 410

Chicago,
IL 60654

Attention:
Josh Scheinfeld/Jonathan Cope

 

Thank
you very much for your help. Please call me at 802.658.3378 if you have any questions or need anything further.

 

THE
PECK COMPANY HOLDINGS, INC.

 

	By:	 	 
	Name:	John Sullivan	 
	Title:	Chief Financial
    Officer	 

 

    	 	40

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