Document:

Exhibit 10.3

 

SECURITY
AGREEMENT

 

THIS
SECURITY AGREEMENT (this “Agreement”), is entered into as of
July 5, 2017, by and between Origin Agritech Limited, a British Virgin Islands corporation (the “Borrower”), and
L2 Capital, LLC, a Kansas limited liability company (the “Secured Party” or “Secured Parties”).
All capitalized terms not otherwise defined herein shall the meanings ascribed to them in that certain Securities Purchase Agreement
and Note (as defined below) by and between Borrower and the Secured Party of even date (the “Note Purchase Agreement”).

 

RECITALS

 

WHEREAS,
the Secured Parties have loaned monies to Borrower,
as more particularly described in the Note Purchase Agreement and as evidenced by the 8% Promissory Note in the principal amount
of $2,344,828.00 issued by Borrower to the Secured Party (the “Note”);

 

WHEREAS,
the term “Secured Party” as used in this Agreement shall mean, collectively, all holders of the Note, including those
persons who become holders of Note subsequent to the date hereof; and

 

WHEREAS,
this Agreement is being executed and delivered by Borrower to secure the Note.

 

NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, each of the parties
hereto hereby agrees as follows:

 

1.         Obligations Secured. This Agreement secures, in part, the prompt payment and performance of all obligations of Borrower
under the Note, and all renewals, extensions, modifications, amendments, and/or supplements thereto (collectively, the “Secured
Obligations”).

 

2.         Grant of Security.

 

a.           Collateral. Borrower hereby grants, pledges, and assigns for the benefit of the Secured Parties, and there is hereby created
in favor of each of the Secured Parties, a security interest in and to all of Borrower’ s right, title, and interest in, to, and
under all of the collateral set forth on Exhibit A hereto (collectively, “Collateral”).

 

b.           Effective Date. This grant of security shall be effective as of the date hereof.

 

c.           Subordination. The Note and the Secured Obligations shall not be subordinated, or junior in interest, to any other obligations
of Borrower.

 

    	 

     

    

d.           Filings to Perfect Security. The Company will (and is hereby authorized to) file with any filing office such financing statements,
amendments, addenda, continuations, terminations, assignments and other records (whether or not executed by Borrower) to perfect
and to maintain perfected security interests in the Collateral by the Secured Parties, whereby (a) promptly upon the execution
of this Agreement, a Financing Statement on Form UCC-1 (the “Financing Statement’’) shall be filed on behalf of the
Secured Parties with respect to the Collateral; The Financing Statement shall designate each of the Secured Parties as a Secured
Party and Borrower as the debtor, shall identify the security
interest in the Collateral, and contain any other items required by law. 

 

The
Financing Statement shall contain a description of collateral consistent with the description
set forth herein and shall not describe the collateral as “all
assets” or “all personal property.”

 

3.           Transfers and Other Liens. Except as set forth herein or in the Note, Borrower shall not, without the prior written consent
of all of the Secured Parties, at their sole and absolute discretion:

 

a.           Sell, transfer, assign, or dispose of (by operation of law or otherwise), any of the Collateral outside of the ordinary course
of business;

 

b.           Create or suffer to exist any lien, security interest,
or other charge or encumbrance upon or with respect to any of the Collateral, except the security interests created hereby; or

 

c.           Permit any of the Collateral to be levied upon under any legal process.

 

4.           Representations and Warranties. Borrower hereby represents and warrants to the Secured Parties as follows: (a) to Borrower’
s knowledge, Borrower is the owner of the Collateral (or, in the case of after-acquired Collateral, at the time Borrower acquires
rights in the Collateral, will be the owner thereat) and that, except as expressly provided herein, no other person has (or, in
the case of after-acquired Collateral, at the time Borrower acquires rights therein, will have) any right, title, claim or interest
(by way of Lien or otherwise) in, against or to the Collateral; (b) to Borrower’s knowledge, except as expressly provided herein,
upon the filing of a Financing Statement as provided herein, the Secured Parties (or in the case of after-acquired Collateral,
at the time Borrower acquires rights therein, will have) will have a perfected security interest in the Collateral to the extent
that a security interest in the Collateral can be perfected by such filing; (c) all Accounts Receivable (as defined in Exhibit
A) are genuine and enforceable against the party obligated to pay the same; (d) Borrower has full power and authority
to enter into the transactions provided for in this Agreement and the Note;
(e) this Agreement and the Note, when executed and delivered by
Borrower, will constitute the legal, valid and binding obligations of Borrower enforceable in accordance with their terms; (t)
the execution and delivery by Borrower of this Agreement and the Note and
the performance and consummation of the transactions contemplated hereby and thereby do not and will not violate Borrower’s Certificate
of Incorporation or Bylaws or any material judgment, order, writ, decree, statute, rule or regulation applicable to Borrower (g)
there does not exist any default or violation by Borrower of or under any of the terms, conditions or obligations of (i) any indenture,
mortgage, deed of trust, franchise, permit, contract, agreement, or other instrument to which Borrower is a party or by which Borrower
is bound, or (ii) any law, ordinance, regulation, ruling, order, injunction, decree, condition or other requirement applicable
to or imposed upon Borrower by any law, the action of any court or any governmental authority or agency; and the execution,

    	 

     

    

delivery
and performance of this Agreement will not result in any such default or violation; (h) there is no action, suit, proceeding, hearing,
investigation, charge, complaint, claim, or demand pending or, to the knowledge of Borrower, threatened which adversely affects
Borrower’s business or financial condition and there is no basis known to Borrower for any action, suit, proceeding, hearing, investigation,
charge, complaint, claim, or demand which could result in the same; and (i) this Agreement and the Note do not contain any untrue
statement of material fact or omit to state a material fact necessary in order to make the statements contained in this Agreement
and the Note not misleading.

 

5.           Events of Default. For purposes of this Agreement, the term “Event of Default” shall
mean and refer to any of the following:

 

		a.	Failure of Borrower to perform or observe any covenant
set forth in this Agreement, or to perform or observe any other term, condition, covenant, warranty, agreement or other provision
contained in this Agreement, where such failure continues for fifteen (15) days after receipt of written notice from Lender specifying
such failure;

 

		b.	Any representation or
warranty made or furnished by Borrower in writing in connection with this Agreement and the Note or any statement or representation
made in any certificate, report or opinion delivered pursuant to this Agreement or in connection with this Agreement is false,
incorrect or incomplete in any material respect at the time it is
furnished; or

 

		c.	Occurrence of any Event of Default as defined in the
Note.

 

6.           Remedies. Upon the occurrence and during the continuance
of an Event of Default (subject to the notice and cure provisions provided for herein, if any), each Secured Party shall have the
rights of a secured creditor, all rights granted by the Note, this Security Agreement and by law, including the right to require
Borrower to assemble the Collateral and make it available to the Secured Parties at a place to be designated by Borrower. The rights
and remedies provided in this Agreement and the Note are cumulative and may be exercised independently or concurrently, and are
not exclusive of any other right or remedy provided at law or in equity. No failure to exercise or delay by the Secured Parties
in exercising any right or remedy under this Agreement or the Note shall impair or prohibit the exercise of any such rights or
remedies in the future or be deemed to constitute a waiver or limitation of any such right or remedy or acquiescence therein. Every
right and remedy granted to the Secured Parties under this Agreement and the Note or by law or in equity may be exercised by any
Secured Party at any time and from time to time.

 

7.           Further Assurances. Borrower agrees that,
from time to time, at its own expense, it will:

 

		a.	Protect and defend the
Collateral against all claims and demands of all persons at any time claiming the same or any interest therein, and preserve and
protect Secured Party’s security interest in the Collateral.

 

		b.	Promptly execute and
deliver to Secured Parties all instruments and documents, and take all further action necessary or desirable, as any Secured Party
may reasonably request to (i) continue, perfect, or protect any security interest granted or purported to be granted hereby, and
(ii) enable a Secured Party to exercise and

    	 

     

    

enforce
any of Secured Party’s rights and remedies hereunder with respect to any Collateral.

 

		c.	Permit a Secured Party’s
representatives to inspect and make copies of all books and records relating to the Collateral, wherever such books and records
are located, and to conduct an audit relating to the Collateral at any reasonable time or times.

 

8.           Notices. All notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (a) upon
personal delivery to the party to be notified, (b) when sent by confirmed telex, e-mail or facsimile if sent during normal business
hours of the recipient, if not, then on the next business day, (c) five (5) days after having been sent by registered or certified
mail, return receipt requested, postage prepaid, or (d) one (1) day after deposit with a nationally recognized overnight courier,
specifying next day delivery, with written verification of receipt. All communications shall be sent as
follows:

 

If
to the Borrower, to:

 

e-mail:
bill.niebur@originseed.com

 

And

 

Origin
Agritech (USA) Limited

The
Financial Center,

666
Walnut Street, Suite #1554

Des
Moines, IA 50309

 

If
to the Secured Party:

 

L2
CAPITAL, LLC

8900
State Line Rd., Suite 410 Leawood, KS 66206

e-mail:
investments@ltwocapital.com

 

or
to such other address or telecopy number as the party to whom notice is to be given may have furnished to the other party in writing
in accordance herewith.

 

10.           Amendments and Waivers. No modification, amendment or waiver of any provision of, or consent required by, this Agreement,
nor any consent to any departure herefrom, shall be effective unless it is in writing and signed by each of the parties hereto.
Such modification, amendment, waiver or consent shall be effective only in the specific instance and for the purpose for which
given.

 

11.           Exclusivity and Waiver of Rights. No failure to exercise and no delay in exercising on the part of any party, any right,
power or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any right, power or
privilege preclude any other right, power or privilege. The rights and remedies herein provided are cumulative and are not exclusive
of any other rights or remedies provided by law.

 

12.           Invalidity. Any term or provision of this Agreement shall be ineffective to the extent it is declared invalid or unenforceable,
without rendering invalid or enforceable the remaining terms and provisions of this Agreement.

    	 

     

    

 

13.           
Headings. Headings used in this Agreement are inserted for convenience only and shall not affect the meaning of any term
or provision of this Agreement.

 

14.           
Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original instrument,
but all of which collectively shall constitute one and the same agreement.

 

15.           
Assignment. This Agreement and the rights and obligations hereunder shall not be assignable or transferable by the any of
the parties without the prior written consent of all Secured Parties, at their sole and absolute discretion.

 

16.            
Survival. Unless otherwise expressly provided herein, all representations warranties, agreements and covenants contained
in this Agreement shall survive the execution hereof and shall remain in full force and effect until the earliest to occur of (a)
the payment in full of the Note, and (b) the conversion of the principal and accrued and unpaid
interest and all other amounts owing under the Note into common stock of Borrower.

 

17.           
Miscellaneous. This Agreement shall inure to the benefit of each of the parties hereto and all their respective successors
and permitted assigns. Nothing in this Agreement is intended or shall be construed to give to any other person, firm or corporation
any legal or equitable right, remedy or claim under or in respect of this Agreement or any provision herein contained.

 

18.            
GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF KANSAS (WITHOUT
GIVING EFFECT TO ANY CHOICE OR CONFLICT OF LAWS PROVISIONS).

 

19.            
CONSENT TO JURISDICTION. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY SUBMITS TO THE NON-EXCLUSIVE
JURISDICTION OF THE COURTS OF THE STATE OF KANSAS AND COUNTY OF JOHNSON. EACH OF THE PARTIES HERETO AGREES THAT ALL ACTIONS OR
PROCEEDINGS ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY MUST BE LITIGATED EXCLUSIVELY
IN ANY SUCH STATE OR FEDERAL COURT, AND ACCORDINGLY, EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES ANY OBJECTION WHICH IT MAY NOW
OR HEREAFTER HAVE TO THE LAYING OF THE VENUE OF ANY SUCH LITIGATION IN ANY SUCH COURT.

 

20.            
WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT
IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH
THISAGREEMENT. EACH OF THE PARTIES HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED,
EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B)
ACKNOWLEDGES THAT IT AND

    	 

     

    

EACH OF
THE OTHER PARTIES HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS
IN THIS SECTION 20.

 

21.            
Attorneys’ Fees. In the event that any suit or action is instituted to enforce any provision in this Agreement, the prevailing
party in such dispute shall be entitled to recover from the losing party all fees, costs and expenses of enforcing any right of
such prevailing party under or with respect to this Agreement, including without limitation, such reasonable fees and expenses
of attorneys and accountants, which shall include, without limitation, all fees, costs and expenses of appeals.

 

22.            
Entire Agreement. This Agreement contains the entire agreement among the parties with respect to the transactions contemplated
by this Agreement and supersedes all prior agreements or understandings among the parties with respect to the subject matter hereof.

 

[SIGNATURE PAGE(S) FOLLOW]

 

 

 

 

    	 

     

    

 

IN
WITNESS WHEREOF, this Security Agreement has been executed as of the date first set written
above.

 

	“SECURED PARTY”	 
	 	 	 
	L2 CAPITAL, LLC	 
	 	 	 
	 	 	 
	By:	/S/ Adam Long	 
	 	
        Name: Adam Long

        Title: Managing Partner
	 
	 	 	 
	 	 	 
	“BORROWER”	 
	 	 	 
	ORIGIN AGRITECH LIMITED	 
	 	 	 
	 	 	 
	By:	/S/ William Niebur	 
	 	Name: William Niebur	 
	 	Title: Chief Executive Officer	 

 

    	 

     

    

EXHIBIT
A COLLATERAL

 

Borrower
hereby grants, pledges, and assigns for the benefit of each Secured
Party, and there is hereby created in favor of the Secured Parties, a security interest in and to all of Borrower’s right, title,
and interest in, to, and under all assets and all personal property of Borrower, whether now or hereafter existing, or now owned
or hereafter acquired, exclusively located in the United States of America, including but not limited to the following (collectively,
“Collateral”):

 

1.           All accounts, chattel paper, contracts, contract rights, accounts receivable, tax refunds, Note receivable, documents, other choses
in action and general intangibles, including, but not limited to, proceeds of inventory and returned goods and proceeds from the
sale of goods and services, and all rights, liens, securities, guaranties, remedies and privileges related thereto, including the
right of stoppage in transit and rights and property of any kind forming the subject matter of any of the foregoing (“Accounts
Receivable”);

 

2.           All time, savings, demand, certificate of deposit or other accounts in the name of Borrower
or in which Borrower has any right, title or interest, including but not limited to all sums now or at any time hereafter on deposit,
and any renewals, extensions or replacements of and all other property which may from time to time be acquired directly or indirectly
using the proceeds of any of the foregoing;

 

3.           All inventory and equipment of every type or description wherever located, including, but not
limited to all raw materials, parts, containers, work in process, finished goods, goods in transit, wares, merchandise furniture,
fixtures, hardware, machinery, tools, parts, supplies, automobiles, trucks, other intangible property of whatever kind and wherever
located associated with the Borrower’s business, tools and goods returned for credit, repossessed, reclaimed or otherwise reacquired
by Borrower;

 

4.           All documents of title and other property from time to time received, receivable or otherwise distributed in respect of, exchange
or substitution for or addition to any of the foregoing including, but not limited to, any documents of title;

 

5.           All know-how, information, permits, patents, copyrights, goodwill, trademarks, trade names, licenses and approvals held by Borrower,
including all other intangible property of Borrower;

 

6.           All assets of any type or description that may at any time be assigned or delivered to or come into possession of Borrower for
any purpose for the account of Borrower or as to which Borrower may have any right, title, interest or power, and property in the
possession or custody of or in transit to anyone for the account of Borrower, as well as all proceeds and products thereof and
accessions and annexations thereto; and

 

7.           All proceeds (including but not limited to insurance proceeds) and products of and accessions and annexations to any of the foregoing.Exhibit 10.4

 

EQUITY PURCHASE AGREEMENT

 

This
equity purchase agreement is entered into as of July 5, 2017 (this “Agreement”), by and between Origin Agritech
Limited, a British Virgin Islands corporation (the “Company”), and L2 Capital, LLC, a Kansas limited liability
company (the “Investor”).

 

WHEREAS,
the parties desire that, upon the terms and subject to the conditions contained herein, the Company shall issue and sell to the
Investor, from time to time as provided herein, and the Investor shall purchase up to Four Million Five Hundred Thousand Dollars
($4,500,000.00) of the Company’s Common Stock (as defined below);

 

NOW, THEREFORE,
the parties hereto agree as follows:

 

ARTICLE I

CERTAIN DEFINITIONS

 

Section
1.1 DEFINED TERMS. As used in this Agreement, the following terms shall have the following meanings specified or indicated
(such meanings to be equally applicable to both the singular and plural forms of the terms defined):

 

“Agreement”
shall have the meaning specified in the preamble hereof.

 

“Average
Daily Trading Value” shall mean the average trading volume of the Company’s Common Stock in the five (5) Trading
Days immediately preceding the respective Put Date multiplied by the lowest traded price of the Company’s Common Stock in
the five (5) Trading Days immediately preceding the respective Put Date.

 

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

 

“Claim
Notice” shall have the meaning specified in Section 9.3(a).

 

“Clearing
Costs” shall mean all of the Investor’s broker fees when the total amount in the respective Put Notice is less
than $60,000.00 and Transfer Agent fees, excluding commissions.

 

“Clearing
Date” shall be the date on which the Investor receives the Put Shares as DWAC Shares in its brokerage account.

 

“Closing”
shall mean one of the closings of a purchase and sale of shares of Common Stock pursuant to Section 2.3.

 

    	 

     

    

“Closing
Certificate” shall mean the closing certificate of the Company in the form of Exhibit B hereto.

 

“Closing
Date” shall mean the date of any Closing hereunder.

 

“Commitment
Period” shall mean the period commencing on the Execution Date, and ending on the earlier of (i) the date on which the
Investor shall have purchased Put Shares pursuant to this Agreement equal to the Maximum Commitment Amount, (ii) July 5, 2019,
or (iii) written notice of termination by the Company to the Investor (which shall not occur at any time that the Investor holds
any of the Put Shares).

 

“Commitment
Shares” shall mean 108,696 shares of the Company’s common stock which were issued to the Investor on or around
the date hereof.

 

“Common
Stock” shall mean the Company’s ordinary shares, nil par value per share, and any shares of any other class of common
stock whether now or hereafter authorized, having the right to participate in the distribution of dividends (as and when declared)
and assets (upon liquidation of the Company).

 

“Common
Stock Equivalents” means any securities of the Company or the Subsidiaries which would entitle the holder thereof to
acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant 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.

 

“Company”
shall have the meaning specified in the preamble to this Agreement.

 

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

 

“Damages”
shall mean any loss, claim, damage, liability, cost and expense (including, without limitation, reasonable attorneys’ fees and
disbursements and costs and expenses of expert witnesses and investigation).

 

“Dispute
Period” shall have the meaning specified in Section 9.3(a).

 

“DTC”
shall mean The Depository Trust Company, or any successor performing substantially the same function for the Company.

 

“DTC/FAST
Program” shall mean the DTC’s Fast Automated Securities Transfer Program.

 

“DWAC”
shall mean Deposit Withdrawal at Custodian as defined by the DTC.

 

    	 

     

    

“DWAC
Eligible” shall mean that (a) the Common Stock is eligible at DTC for full services pursuant to DTC’s Operational
Arrangements, including, without limitation, transfer through DTC’s DWAC system, (b) the Company has been approved (without
revocation) by the DTC’s underwriting department, (c) the Transfer Agent is approved as an agent in the DTC/FAST Program,
(d) the Commitment Shares or Put Shares, as applicable, are otherwise eligible for delivery via DWAC, and (e) the Transfer Agent
does not have a policy prohibiting or limiting delivery of the Commitment Shares or Put Shares, as applicable, via DWAC.

 

“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
DWAC account with DTC under the DTC/FAST Program, or any similar program hereafter adopted by DTC performing substantially the
same function.

 

“Exchange
Act” shall mean the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

“Exchange
Cap” shall have the meaning set forth in Section 7.1(c).

 

“Execution
Date” shall mean the date of this Agreement.

 

“FINRA”
shall mean the Financial Industry Regulatory Authority, Inc.

 

“Investment
Amount” shall mean the Put Shares referenced in the Put Notice multiplied by the Purchase Price minus the Clearing Costs.

 

“Indemnified
Party” shall have the meaning specified in Section 9.2.

 

“Indemnifying
Party” shall have the meaning specified in Section 9.2.

 

“Indemnity
Notice” shall have the meaning specified in Section 9.3(e).

 

“Investor”
shall have the meaning specified in the preamble to this Agreement.

 

“Lien”
means a lien, charge, pledge, security interest, encumbrance, right of first refusal, preemptive right or other restriction.

 

“Market
Price” shall mean the one (1) lowest VWAP on the Principal Market for any Trading Day during the Valuation Period, as
reported by Bloomberg Finance L.P or other reputable source.

 

“Material
Adverse Effect” shall mean any effect on the business, operations, properties, or financial condition of the Company and
the Subsidiaries that is material and adverse to the Company and the Subsidiaries and/or any condition, circumstance, or situation
that would prohibit or otherwise materially interfere with the ability of the Company to enter

    	 

     

    

into and perform its obligations under
any Transaction Document. The definition of Material Adverse Effect, however, does not include the previously approved sale of
certain assets of the Company approved by shareholders pursuant to the proxy materials filed with the SEC on February 23, 2017.

 

“Maximum
Commitment Amount” shall mean Four Million Five Hundred Thousand Dollars ($4,500,000.00).

 

“Person”
shall mean an individual, a corporation, a partnership, an association, a trust or other entity or organization, including a government
or political subdivision or an agency or instrumentality thereof.

 

“Principal
Market” shall mean any of the national exchanges (i.e. NYSE, NYSE AMEX, Nasdaq), or principal quotation systems (i.e.
OTCQX, OTCQB, OTC Pink, the OTC Bulletin Board), or other principal exchange or recognized quotation system which is at the time
the principal trading platform or market for the Common Stock.

 

“Purchase
Price” shall mean 94% of the Market Price on such date on which the Purchase Price is calculated in accordance with the
terms and conditions of this Agreement.

 

“Put”
shall mean the right of the Company to require the Investor to purchase shares of Common Stock, subject to the terms and conditions
of this Agreement.

 

“Put Date”
shall mean any Trading Day during the Commitment Period that a Put Notice is deemed delivered pursuant to Section 2.2(b).

 

“Put Notice”
shall mean a written notice, substantially in the form of Exhibit A hereto, to Investor setting forth the Put Shares which
the Company intends to require Investor to purchase pursuant to the terms of this Agreement.

 

“Put Shares”
shall mean all shares of Common Stock issued, or that the Company shall be entitled to issue, per any applicable Put Notice in
accordance with the terms and conditions of this Agreement.

 

“Registration
Statement” shall have the meaning specified in Section 6.4.

 

“Regulation
D” shall mean Regulation D promulgated under the Securities Act.

 

“Required
Minimum” shall mean, as of any date, the maximum aggregate number of shares of
Common Stock then issued or potentially issuable in the future pursuant to the Transaction Documents, including any Commitment
Shares, ignoring any conversion limits set forth therein, and assuming that the conversion price is at all times on and after the
date of determination 100% of the then conversion price on the Trading Day immediately prior to the date of determination. 

 

    	 

     

    

“Rule 144”
shall mean Rule 144 under the Securities Act or any similar provision then in force under the Securities Act.

 

“SEC”
shall mean the United States Securities and Exchange Commission.

 

“SEC Documents”
shall have the meaning specified in Section 4.5.

 

“Securities”
means, collectively, the Put Shares and the Commitment Shares.

 

“Securities
Act” shall mean the Securities Act of 1933, as amended.

 

 “Short
Sales” shall mean all “short sales” as defined in Rule 200 of Regulation SHO under the Exchange Act.

 

“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.

 

“Third
Party Claim” shall have the meaning specified in Section 9.3(a).

 

“Trading
Day” shall mean a day on which the Principal Market shall be open for business.

 

“Transaction
Documents” shall mean this Agreement and all schedules and exhibits hereto and thereto.

 

“Transfer
Agent” shall mean Continental Stock Transfer & Trust Company, the current transfer
agent of the Company, and any successor transfer agent of the Company. 

 

“Transfer
Agent Instruction Letter” means the letter from the Company to the Transfer Agent which instructs the Transfer Agent
to issue the Put Shares and the Commitment Shares pursuant to the Transaction Documents, in the form of Exhibit C attached
hereto. 

 

“Valuation
Period” shall mean the period of five (5) Trading Days immediately following the Put Date associated with the applicable
Put Notice, provided, however, that the Put Date shall count towards one of the five (5) Trading days if the applicable Put Notice
is delivered to Investor by email on or prior to 8:30 a.m. New York time.

 

“VWAP”
shall mean for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then
listed or quoted on a national exchange as included in the term Principal Market, the daily volume weighted average price of the
Common Stock for such date (or the nearest preceding date) on such national exchange on which the Common Stock is then listed or
quoted for trading as reported by Bloomberg L.P. or

    	 

     

    

Quotestream, a product of QuoteMedia,
Inc. (based on a Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)); (b) if the Common Stock is
not then traded on a national exchange, the volume weighted average price of the Common Stock for such date (or the nearest preceding
date) on the OTCQX, OTCQB, OTC Pink or OTC Bulletin Board; (c) if the Common Stock is not then quoted for trading on the OTCQX,
OTCQB, OTC Pink or OTC Bulletin Board and if prices for the Common Stock are then reported in the OTC markets or a similar organization
or agency, the most recent bid price per share of the Common Stock so reported the reflects the equivalent of a trading market
for the Common Stock; or (d) in all other cases, the fair market value of a share of Common Stock as determined by an independent
appraiser selected in good faith by the Holder and reasonably acceptable to the Company.

 

ARTICLE II

PURCHASE AND SALE OF COMMON STOCK

 

Section 2.1            PUTS.
Upon the terms and conditions set forth herein (including, without limitation, the provisions of Article VII), the Company shall
have the right, but not the obligation, to direct the Investor, by its delivery to the Investor of a Put Notice from time to time,
to purchase Put Shares (i) in a minimum amount not less than $25,000.00 and (ii) in a maximum amount of 150% of the Average Daily
Trading Value; provided that such minimum amount of Put Shares may be decreased and such maximum amount of Put Shares may
be increased subject to the Investor’s approval.

 

  Section 2.2            MECHANICS.

 

(a)                    
PUT NOTICE. At any time and from time to time during the Commitment Period, except as provided in this Agreement, the Company
may deliver a Put Notice to Investor, subject to satisfaction of the conditions set forth in Section 7.2 and otherwise provided
herein. The Company shall deliver, or cause to be delivered, the Put Shares as DWAC Shares to the Investor within two (2) Trading
Days following the Put Date.

 

(b)                    
DATE OF DELIVERY OF PUT NOTICE. A Put Notice shall be deemed delivered on (i) the Trading Day it is received by email by
the Investor if such notice is received on or prior to 8:30 a.m. New York time or (ii) the immediately succeeding Trading Day if
it is received by email after 8:30 a.m. New York time on a Trading Day or at any time on a day which is not a Trading Day. The
Company shall not deliver another Put Notice to the Investor within ten (10) Trading Days of a prior Put Notice, without the consent
of Investor.

 

Section 2.3            CLOSINGS.
If the value of the Put Shares delivered to the Investor causes the Company to exceed the Maximum Commitment Amount, then the Investor
shall return to the Company the surplus amount of Put Shares associated with such Put and the Purchase Price with respect to such
Put shall be reduced by any Clearing Costs related to the return of such Put Shares. The Closing of a Put shall occur within two
(2) Trading Days following the respective Valuation Period, whereby the Investor shall deliver the Investment Amount by wire transfer
of immediately available funds to an account designated by the

    	 

     

    

Company. In addition, on or prior to such
Closing, each of the Company and the Investor shall deliver to each other all documents, instruments and writings required to be
delivered or reasonably requested by either of them pursuant to this Agreement in order to implement and effect the transactions
contemplated herein. At the Closing of a Put, the Investor will deliver with the Investment Amount a copy of the VWAP used to calculate
the Investment Amount, which may be either from Bloomberg or Quotestream.

 

ARTICLE III

REPRESENTATIONS AND
WARRANTIES OF INVESTOR

 

The
Investor represents and warrants to the Company that:

 

Section
3.1           INTENT. The Investor is entering into this Agreement
for its own account and the Investor has no present arrangement (whether or not legally binding) at any time to sell the Securities
to or through any Person in violation of the Securities Act or any applicable state securities laws; provided, however,
that the Investor reserves the right to dispose of the Securities at any time in accordance with federal and state securities laws
applicable to such disposition.

  

Section
3.2           NO LEGAL ADVICE FROM THE COMPANY. The Investor acknowledges
that it has had the opportunity to review this Agreement and the transactions contemplated by this Agreement with its own legal
counsel and investment and tax advisors. The Investor is relying solely on such counsel and advisors and not on any statements
or representations of the Company or any of its representatives or agents for legal, tax or investment advice with respect to this
investment, the transactions contemplated by this Agreement or the securities laws of any jurisdiction.

 

Section
3.3           ACCREDITED INVESTOR. The Investor is an accredited
investor as defined in Rule 501(a)(3) of Regulation D, and the Investor has such experience in business and financial matters that
it is capable of evaluating the merits and risks of an investment in the Securities. The Investor acknowledges that an investment
in the Securities is speculative and involves a high degree of risk.

 

Section
3.4           AUTHORITY. The Investor has the requisite power and
authority to enter into and perform its obligations under this Agreement and the other Transaction Documents and to consummate
the transactions contemplated hereby and thereby. The execution and delivery of this Agreement and the other Transaction Documents
and the consummation by it of the transactions contemplated hereby and thereby have been duly authorized by all necessary action
and no further consent or authorization of the Investor is required. Each Transaction Document to which it is a party has been
duly executed by the Investor, and when delivered by the Investor in accordance with the terms hereof, will constitute the valid
and binding obligation of the Investor enforceable against it in accordance with its terms, subject to applicable bankruptcy, insolvency,
or similar laws relating to, or affecting generally the enforcement of, creditors’ rights and remedies or by other equitable principles
of general application.

    	 

     

    

 

Section
3.5           NOT AN AFFILIATE. The Investor is not an officer, director
or “affiliate” (as that term is defined in Rule 405 of the Securities Act) of the Company.

 

Section
3.6           ORGANIZATION AND STANDING. The Investor is an entity
duly incorporated or formed, validly existing and in good standing under the laws of the jurisdiction of its incorporation or formation
with full right, corporate, partnership, limited liability company or similar power and authority to enter into and to consummate
the transactions contemplated by this Agreement and the other Transaction Documents.

 

Section
3.7           ABSENCE OF CONFLICTS. The execution and delivery of
this Agreement and the other Transaction Documents, and the consummation of the transactions contemplated hereby and thereby and
compliance with the requirements hereof and thereof, will not (a) violate any law, rule, regulation, order, writ, judgment, injunction,
decree or award binding on the Investor, (b) violate any provision of any indenture, instrument or agreement to which the Investor
is a party or is subject, or by which the Investor or any of its assets is bound, or conflict with or constitute a material default
thereunder, (c) result in the creation or imposition of any lien pursuant to the terms of any such indenture, instrument or agreement,
or constitute a breach of any fiduciary duty owed by the Investor to any third party, or (d) require the approval of any third-party
(that has not been obtained) pursuant to any material contract, instrument, agreement, relationship or legal obligation to which
the Investor is subject or to which any of its assets, operations or management may be subject.

 

Section
3.8           DISCLOSURE; ACCESS TO INFORMATION. The Investor had
an opportunity to review copies of the SEC Documents filed on behalf of the Company and has had access to all publicly available
information with respect to the Company.

 

Section 3.9           MANNER
OF SALE. At no time was the Investor presented with or solicited by or through any leaflet, public promotional meeting, television
advertisement or any other form of general solicitation or advertising.

 

ARTICLE IV

REPRESENTATIONS AND WARRANTIES OF
THE COMPANY

 

The Company
represents and warrants to the Investor that, except as disclosed in the SEC Documents or except as set forth in the disclosure
schedules hereto:

 

Section 4.1           ORGANIZATION
OF THE COMPANY. The Company and each of the 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 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 Subsidiary
is in violation nor default of any of the provisions of its respective certificate or articles of incorporation, bylaws or other
organizational or charter documents. Each of the Company and the 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.

 

Section
4.2           AUTHORITY. The Company has the requisite corporate
power and authority to enter into and perform its obligations under this Agreement and the other Transaction Documents. The execution
and delivery of this Agreement and the other Transaction Documents by the Company and the consummation by it of the transactions
contemplated hereby and thereby have been duly authorized by all necessary corporate action and no further consent or authorization
of the Company or its Board of Directors or stockholders is required. Each of this Agreement and the other Transaction Documents
has been duly executed and delivered by the Company and constitutes a valid and binding obligation of the Company enforceable against
the Company in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, or
similar laws relating to, or affecting generally the enforcement of, creditors’ rights and remedies or by other equitable principles
of general application.

 

Section
4.3           CAPITALIZATION. As of the date hereof, the authorized
capital stock of the Company consists of (a) 60,000,000 shares of Common Stock, par value of nil per share, of which approximately
22,873,541 shares of Common Stock are issued and outstanding and (b) 1,000,000 shares of preferred stock, par value of nil per
share, of which none are issued and outstanding. Except as set
forth on Schedule 4.3 and issuances to the Investor as of the date hereof the Company has not issued any capital stock since
its most recently filed periodic report under the Exchange Act, other than the sale of 555,000 shares of treasury stock and pursuant
to the exercise of employee stock options under the Company’s stock option plans, the issuance of shares of Common Stock
to employees pursuant to the Company’s employee stock purchase plans and pursuant to the conversion and/or exercise of Common
Stock Equivalents outstanding as of the date of the most recently filed periodic report under the Exchange Act. As of the date
hereof, no Person has any right of first refusal, preemptive right, right of participation, or any similar right to participate
in the transactions contemplated by the Transaction Documents. As of the date hereof, except as set forth on Schedule 4.3, except
as stated in this Section 4.3, and except as a result of the purchase and sale of the Securities, there are no outstanding
options, warrants, scrip rights to subscribe to, calls or commitments of any character whatsoever relating to, or securities, rights
or obligations convertible into or exercisable or exchangeable for, or giving any Person any right to subscribe for or acquire
any shares of Common Stock, or contracts, commitments, understandings or arrangements by which the Company or any Subsidiary is
or may become bound to issue additional shares of Common Stock or Common Stock Equivalents. As of the date hereof, the issuance
and sale of the Securities will not obligate the Company to issue shares of Common Stock or other securities to any Person (other
than the Investor) and will not result in a right of any holder of Company securities to adjust the exercise, conversion, exchange
or reset price under any of such securities. As of the date hereof, there are no

    	 

     

    

stockholders agreements,
voting agreements or other similar agreements with respect to the Company’s capital stock to which the Company is a party
or, to the knowledge of the Company, between or among any of the Company’s stockholders.

 

Section
4.4           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 under the Exchange Act nor has
the Company received any notification that the SEC is contemplating terminating such registration. The Company has not, in the
twelve (12) months preceding the date hereof, received notice from the Principal Market on which the Common Stock is or has been
listed or quoted to the effect that the Company is not in compliance with the listing or maintenance requirements of such Principal
Market. The Company is in compliance with all such listing and maintenance requirements.

 

Section
4.5           SEC DOCUMENTS; DISCLOSURE. Except as set forth on Schedule
4.5, 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 one (1) year 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, and other federal laws,
rules and regulations applicable to such SEC Documents, and 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 light of the circumstances under which they were made, not misleading. The financial statements of the Company included
in the SEC Documents comply as to form and substance in all material respects with applicable accounting requirements and the published
rules and regulations of the SEC or other applicable rules and regulations with respect thereto. Such financial statements have
been prepared in accordance with generally accepted accounting principles applied on a consistent basis during the periods involved
(except (a) as may be otherwise indicated in such financial statements or the notes thereto or (b) in the case of unaudited interim
statements, to the extent they may not include footnotes or may be condensed or summary statements) and fairly present in all material
respects the financial position of the Company as of 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 with respect
to the material terms and conditions of the transactions contemplated by the Transaction Documents, 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.

    	 

     

    

The Company understands
and confirms that the Investor will rely on the foregoing representation in effecting transactions in securities of the Company.

 

Section
4.6           VALID ISSUANCES. The Securities are duly authorized
and, when issued and paid for in accordance with the applicable Transaction Documents, will be duly and validly issued, fully paid,
and non-assessable, free and clear of all Liens imposed by the Company other than restrictions on transfer provided for in the
Transaction Documents.

   

Section
4.7           NO CONFLICTS. The execution, delivery and performance
of this Agreement and the other Transaction Documents by the Company and the consummation by the Company of the transactions contemplated
hereby and thereby, including, without limitation, the issuance of the Put Shares and the Commitment Shares, do not and will not:
(a) result in a violation of the Company’s or any Subsidiary’s certificate or articles of incorporation, by-laws or
other organizational or charter documents, (b) conflict with, or constitute a material default (or an event that with notice or
lapse of time or both would become a material default) under, result in the creation of any Lien upon any of the properties or
assets of the Company or any Subsidiary, or give to others any rights of termination, amendment, acceleration or cancellation of,
any agreement, indenture, instrument or any “lock-up” or similar provision of any underwriting or similar agreement to
which the Company or any Subsidiary is a party, or (c) result in a violation of any federal, state or local law, rule, regulation,
order, judgment or decree (including federal and state securities laws and regulations) applicable to the Company or any Subsidiary
or by which any property or asset of the Company or any Subsidiary is bound or affected (except for such conflicts, defaults, terminations,
amendments, accelerations, cancellations and violations as would not, individually or in the aggregate, have a Material Adverse
Effect) nor is the Company otherwise in violation of, conflict with or in default under any of the foregoing. The business of the
Company is not being conducted in violation of any law, ordinance or regulation of any governmental entity, except for possible
violations that either singly or in the aggregate do not and will not have a Material Adverse Effect. The Company is not required
under federal, state or local law, rule or regulation to obtain any consent, authorization or order of, or make any filing or registration
with, any court or governmental agency in order for it to execute, deliver or perform any of its obligations under this Agreement
or the other Transaction Documents (other than any SEC, FINRA or state securities filings that may be required to be made by the
Company subsequent to any Closing or any registration statement that may be filed pursuant hereto); provided that, for purposes
of the representation made in this sentence, the Company is assuming and relying upon the accuracy of the relevant representations
and agreements of Investor herein.

 

Section
4.8           NO MATERIAL ADVERSE CHANGE. No event has occurred that
would have a Material Adverse Effect on the Company that has not been disclosed in subsequent SEC filings.

 

Section
4.9           LITIGATION AND OTHER PROCEEDINGS. Except as disclosed
in the SEC Documents or as set forth on Schedule 4.9, there are no actions, suits, investigations, inquiries or proceedings
pending or, to the knowledge of the Company,

    	 

     

    

threatened against or affecting
the Company, any Subsidiary or any of their respective properties, nor has the Company received any written or oral notice of any
such action, suit, proceeding, inquiry or investigation, which would have a Material Adverse Effect. No judgment, order, writ,
injunction or decree or award has been issued by or, to the knowledge of the Company, requested of any court, arbitrator or governmental
agency which would have a Material Adverse Effect. There has not been, and to the knowledge of the Company, there is not pending
or contemplated, any investigation by the SEC involving the Company, any Subsidiary or any current or former director or officer
of the Company or any Subsidiary.

 

Section
4.10           REGISTRATION RIGHTS. As of the date hereof, except
as set forth on Schedule 4.10, no Person (other than the Investor) has any right to cause the Company to effect the registration
under the Securities Act of any securities of the Company or any Subsidiary.

 

ARTICLE V

COVENANTS OF INVESTOR

 

 Section
5.1           COMPLIANCE WITH LAW; TRADING IN SECURITIES. The Investor’s
trading activities with respect to shares of Common Stock will be in compliance with all applicable state and federal securities
laws and regulations and the rules and regulations of FINRA and the Principal Market.

 

Section
5.2           SHORT SALES AND CONFIDENTIALITY. Neither the Investor,
nor any affiliate of the Investor acting on its behalf or pursuant to any understanding with it, will execute any Short Sales during
the period from the date hereof to the end of the Commitment Period. For the purposes hereof, and in accordance with Regulation
SHO, the sale after delivery of a Put Notice of such number of shares of Common Stock reasonably expected to be purchased under
a Put Notice shall not be deemed a Short Sale. The Investor shall, until such time as the transactions contemplated by this Agreement
are publicly disclosed by the Company in accordance with the terms of this Agreement, maintain the confidentiality of the existence
and terms of this transaction and the information included in the Transaction Documents.

 

ARTICLE VI

COVENANTS OF THE COMPANY

 

Section
6.1           RESERVATION OF COMMON STOCK. The Company shall maintain
a reserve from its duly authorized shares of Common Stock equal to 100% of the Required Minimum to satisfy its obligation to issue
the Put Shares and the Commitment Shares in accordance with the terms of this Agreement.

 

Section
6.2           LISTING OF COMMON STOCK. The Company shall promptly
secure the listing of all of the Put Shares and Commitment Shares to be issued to the Investor hereunder on the Principal Market
(subject to official notice of issuance) and shall use commercially reasonable best efforts to maintain, so long as any shares
of Common Stock

    	 

     

    

shall be so listed, the
listing of all such Put Shares and Commitment Shares from time to time issuable hereunder. The Company shall use its commercially
reasonable efforts to continue the listing and trading of the Common Stock on the Principal Market (including, without limitation,
maintaining sufficient net tangible assets) and will comply in all respects with the Company’s reporting, filing and other obligations
under the bylaws or rules of FINRA and the Principal Market.

 

Section
6.3           OTHER EQUITY LINES AND CONVERTIBLE NOTES. Other than
the arrangements with the Investors, so long as this Agreement remains in effect, the Company covenants and agrees that it will
not, without the prior written consent of the Investor, enter into any other equity line of credit agreement with any other party
or issue any promissory note convertible into Common Stock to any other party that converts into Common Stock on a variable basis
or converts (for the entire term) at a rate that is less than the Market Price on the date of issuance of the promissory note.
For the avoidance of doubt, nothing contained in the Transaction Documents shall restrict, or require the Investor’s consent for,
any agreement providing for the issuance or distribution of any equity securities of the Company pursuant to any agreement or arrangement
that is not covered in this Section 6.3. For the further avoidance of doubt, nothing contained in the Transaction Documents shall
restrict or require the Investor’s consent for any public or private offering of any securities of the Company in which the
net proceeds is greater than $2,000,000 or of a subsidiary, any joint venture to which the Company or its subsidiaries is a party,
any merger, consolidation or combination in which the Company or its subsidiaries is a surviving party or, after a termination
of this Agreement, any merger, consolidation or combination in which the Company is not the surviving party or the sale of all
or substantially all the assets of the Company.

 

Section 6.4           FILING
OF CURRENT REPORT AND REGISTRATION STATEMENT. The Company agrees that it shall file a Current Report on Form 6-K, including
the Transaction Documents as exhibits thereto, with the SEC within the time required by the Exchange Act, relating to the transactions
contemplated by, and describing the material terms and conditions of, the Transaction Documents (the “Current Report”).
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) Trading Days prior to its filing with the SEC, and the Company shall give reasonable consideration to all such comments.
The Investor shall use its reasonable best efforts to comment upon the final pre-filing draft version of the Current Report within
one (1) Trading Day from the date the Investor receives it from the Company. The Company shall also file with the SEC, within
forty (40) calendar days from the date hereof, a new registration statement (the “Registration Statement”)
covering only the resale of the Put Shares and the Commitment Shares. 

    	 

     

    

ARTICLE VII

CONDITIONS TO DELIVERY OF

PUT NOTICES AND CONDITIONS TO CLOSING

 

Section 7.1           CONDITIONS
PRECEDENT TO THE RIGHT OF THE COMPANY TO ISSUE AND SELL PUT SHARES. The right of the Company to issue and sell the Put Shares
to the Investor is subject to the satisfaction of each of the conditions set forth below:

 

(a)              ACCURACY
OF INVESTOR’S REPRESENTATIONS AND WARRANTIES. The representations and warranties of the Investor shall be true and correct
in all material respects as of the date of this Agreement and as of the date of each Closing as though made at each such time.

 

(b)             
PERFORMANCE BY INVESTOR. Investor shall have performed, satisfied and complied in all respects with all covenants, agreements
and conditions required by this Agreement to be performed, satisfied or complied with by the Investor at or prior to such Closing.

 

(c)             
PRINCIPAL MARKET REGULATION. The Company shall not issue any Put Shares, and the Investor shall not have the right to receive
any Put Shares, if the issuance of such Put Shares would exceed the aggregate 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 (the “Exchange
Cap”).

 

Section
7.2           CONDITIONS PRECEDENT TO THE OBLIGATION OF INVESTOR TO PURCHASE
PUT SHARES. The obligation of the Investor hereunder to purchase Put Shares is subject to the satisfaction of each of the following
conditions:

  

(a)             
EFFECTIVE REGISTRATION STATEMENT. The Registration Statement, and any amendment or supplement thereto, shall remain effective
for the resale by the Investor of the Put Shares and the Commitment Shares and (i) neither the Company nor the Investor shall have
received notice that the SEC has issued or intends to issue a stop order with respect to such Registration Statement or that the
SEC otherwise has suspended or withdrawn the effectiveness of such Registration Statement, either temporarily or permanently, or
intends or has threatened to do so and (ii) no other suspension of the use of, or withdrawal of the effectiveness of, such Registration
Statement or related prospectus shall exist.

 

(b)             
ACCURACY OF THE COMPANY’S REPRESENTATIONS AND WARRANTIES. The representations and warranties of the Company set forth in
Article IV hereof shall be true and correct in all material respects as of the date of this Agreement and as of the date of each
Closing (except for representations and warranties specifically made as of a particular date).

 

(c)             
PERFORMANCE BY THE COMPANY. The Company shall have performed, satisfied and complied in all material respects with all covenants,
agreements and conditions required by this Agreement to be performed, satisfied or complied with by the Company.

 

    	 

     

    

(d)             
NO INJUNCTION. No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered,
promulgated or adopted by any court or governmental authority of competent jurisdiction that prohibits or directly and materially
adversely affects any of the transactions contemplated by the Transaction Documents, and no proceeding shall have been commenced
that may have the effect of prohibiting or materially adversely affecting any of the transactions contemplated by the Transaction
Documents.

 

(e)             
ADVERSE CHANGES. Since the date of filing of the Company’s most recent SEC Document, no event that had or is reasonably
likely to have a Material Adverse Effect has occurred.

 

(f)             
NO SUSPENSION OF TRADING IN OR DELISTING OF COMMON STOCK. The trading of the Common Stock shall not have been suspended
by the SEC, the Principal Market or FINRA, or otherwise halted for any reason, and the Common Stock shall have been approved for
listing or quotation on and shall not have been delisted from the Principal Market. In the event of a suspension, delisting, or
halting for any reason, of the trading of the Common Stock, as contemplated by this Section 7.2(f), the Investor shall have the
right to return to the Company any remaining amount of Put Shares associated with such Put, and the Purchase Price with respect
to such Put shall be reduced accordingly.

 

(g)             
BENEFICIAL OWNERSHIP LIMITATION. The number of Put Shares then to be purchased by the Investor shall not exceed the number
of such shares that, when aggregated with all other shares of Common Stock then owned by the Investor beneficially or deemed beneficially
owned by the Investor, would result in the Investor owning more than the Beneficial Ownership Limitation (as defined below), as
determined in accordance with Section 16 of the Exchange Act and the regulations promulgated thereunder. For purposes of this Section
7.2(g), in the event that the amount of Common Stock outstanding, as determined in accordance with Section 16 of the Exchange Act
and the regulations promulgated thereunder, is greater on a Closing Date than on the date upon which the Put Notice associated
with such Closing Date is given, the amount of Common Stock outstanding on such Closing Date shall govern for purposes of determining
whether the Investor, when aggregating all purchases of Common Stock made pursuant to this Agreement, would own more than the Beneficial
Ownership Limitation following such Closing Date. The “Beneficial Ownership Limitation” shall be 9.99%
of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock
issuable pursuant to a Put Notice.

 

(h)             
PRINCIPAL MARKET REGULATION. The issuance of the Put Shares shall not exceed the Exchange Cap.

 

(i)             
NO KNOWLEDGE. The Company shall have no knowledge of any event more likely than not to have the effect of causing the Registration
Statement to be suspended or otherwise ineffective (which event is more likely than not to occur within the

    	 

     

    

fifteen (15) Trading Days
following the Trading Day on which such Put Notice is deemed delivered).

 

(j)             NO
VIOLATION OF SHAREHOLDER APPROVAL REQUIREMENT. The issuance of the Put Shares shall not violate the shareholder approval requirements
of the Principal Market.

 

(k)           
OFFICER’S CERTIFICATE. On the date of delivery of each Put Notice, the Investor shall have received the Closing Certificate
executed by an executive officer of the Company and to the effect that all the conditions to such Closing shall have been satisfied
as of the date of each such certificate.

 

(l)             
DWAC
ELIGIBLE. The Common Stock must be DWAC Eligible and not subject to a “DTC chill.”

 

(m)           
SEC
DOCUMENTS. All reports, schedules, registrations, forms, statements, information and other documents required to have been
filed by the Company with the SEC 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.

 

(n)             
TRANSFER
AGENT INSTRUCTION LETTER. The Transfer Agent Instruction Letter shall have been executed and delivered by the Company to the
Transfer Agent and acknowledged and agreed to in writing by the Transfer Agent.

 

(o)             
RESERVE.
The Company shall have reserved sufficient shares of its Common Stock for the Investor, pursuant to the terms of this Agreement
between the Company and Investor.

 

(p)             
MINIMUM
PRICING. The lowest traded price of the Common Stock in the five (5) Trading Days immediately preceding the respective Put
Date must exceed $0.01 per share, unless waived in writing by the Investor.

 

ARTICLE VIII

LEGENDS

 

Section
8.1           NO RESTRICTIVE STOCK LEGEND. No restrictive stock legend
shall be placed on the share certificates representing the Put Shares.

 

Section
8.2           INVESTOR’S COMPLIANCE. Nothing in this Article VIII
shall affect in any way the Investor’s obligations hereunder to comply with all applicable securities laws upon the sale of the
Common Stock.

 

    	 

     

    

ARTICLE IX

NOTICES; INDEMNIFICATION

 

Section
9.1           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 (a) personally served, (b) deposited in the mail, registered or certified, return receipt requested, postage prepaid,
(c) delivered by reputable air courier service with charges prepaid, or (d) transmitted by hand delivery, telegram, or email as
a PDF, addressed as set forth below or to such other address as such party shall have specified most recently by written notice
given in accordance herewith. Any notice or other communication required or permitted to be given hereunder shall be deemed effective
(i) upon hand delivery or delivery by email at the address 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 (ii) on the second business day following the date of
mailing by express courier service or on the fifth business day after deposited in the mail, in each case, 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:

 

Email:
bill.niebur@originseed.com

 

And

 

Origin
Agritech (USA) Limited

The
Financial Center,

666
Walnut Street, Suite #1554

Des
Moines, IA 50309

 

If
to the Investor:

 

L2
Capital, LLC

8900
State Line Rd., Suite 410

Leawood,
KS 66206

Email:
investments@ltwocapital.com

Attention:
Adam Long, Managing Partner

 

Either party hereto may
from time to time change its address or email for notices under this Section 9.1 by giving at least ten (10) days’ prior written
notice of such changed address to the other party hereto.

 

Section
9.2           INDEMNIFICATION. Each party (an “Indemnifying
Party”) agrees to indemnify and hold harmless the other party along with its officers, directors, employees,

    	 

     

    

and
authorized agents, and each Person or entity, if any, who controls such party within the meaning of Section 15 of the Securities
Act or Section 20 of the Exchange Act (an “Indemnified Party”) from and against any Damages, joint or several,
and any action in respect thereof to which the Indemnified Party becomes subject to, resulting from, arising out of or relating
to (i) any misrepresentation, breach of warranty or nonfulfillment of or failure to perform any covenant or agreement on the part
of the Indemnifying Party contained in this Agreement, (ii) any untrue statement or alleged untrue statement of a material fact
contained in the Registration Statement or any post-effective amendment thereof or supplement thereto, or the omission or alleged
omission therefrom of a material fact required to be stated therein or necessary to make the statements therein not misleading,
(iii) any untrue statement or alleged untrue statement of a material fact contained in any preliminary prospectus or contained
in the final prospectus (as amended or supplemented, if the Company files any amendment thereof or supplement thereto with the
SEC) or the omission or alleged omission to state therein any material fact necessary to make the statements made therein, in
the light of the circumstances under which the statements therein were made, not misleading, or (iv) any violation or alleged
violation by the Company of the Securities Act, the Exchange Act, any state securities law or any rule or regulation under the
Securities Act, the Exchange Act or any state securities law, as such Damages are incurred, except to the extent such Damages
result primarily from the Indemnified Party’s failure to perform any covenant or agreement contained in this Agreement or
the Indemnified Party’s negligence, recklessness or bad faith in performing its obligations under this Agreement; provided,
however, that the foregoing indemnity agreement shall not apply to any Damages of an Indemnified Party to the extent, but
only to the extent, arising out of or based upon any untrue statement or alleged untrue statement or omission or alleged omission
made by an Indemnifying Party in reliance upon and in conformity with written information furnished to the Indemnifying Party
by the Indemnified Party expressly for use in the Registration Statement, any post-effective amendment thereof or supplement thereto,
or any preliminary prospectus or final prospectus (as amended or supplemented).

 

Section
9.3           METHOD OF ASSERTING INDEMNIFICATION CLAIMS. All claims
for indemnification by any Indemnified Party under Section 9.2 shall be asserted and resolved as follows:

 

(a)             
In the event any claim or demand in respect of which an Indemnified Party might seek indemnity under Section 9.2 is asserted against
or sought to be collected from such Indemnified Party by a Person other than a party hereto or an affiliate thereof (a “Third
Party Claim”), the Indemnified Party shall deliver a written notification, enclosing a copy of all papers served, if any,
and specifying the nature of and basis for such Third Party Claim and for the Indemnified Party’s claim for indemnification that
is being asserted under any provision of Section 9.2 against an Indemnifying Party, together with the amount or, if not then reasonably
ascertainable, the estimated amount, determined in good faith, of such Third Party Claim (a “Claim Notice”) with
reasonable promptness to the Indemnifying Party. If the Indemnified Party fails to provide the Claim Notice with reasonable promptness
after the Indemnified Party receives notice of such Third Party Claim, the Indemnifying Party shall not be obligated to indemnify
the Indemnified Party with respect to such Third Party Claim to the extent that the Indemnifying Party’s ability to defend has
been prejudiced by such failure of

    	 

     

    

the
Indemnified Party. The Indemnifying Party shall notify the Indemnified Party as soon as practicable within the period ending thirty
(30) calendar days following receipt by the Indemnifying Party of either a Claim Notice or an Indemnity Notice (as defined below)
(the “Dispute Period”) whether the Indemnifying Party disputes its liability or the amount of its liability
to the Indemnified Party under Section 9.2 and whether the Indemnifying Party desires, at its sole cost and expense, to defend
the Indemnified Party against such Third Party Claim.

 

(i)             
If the Indemnifying Party notifies the Indemnified Party within the Dispute Period that the Indemnifying Party desires to defend
the Indemnified Party with respect to the Third Party Claim pursuant to this Section 9.3(a), then the Indemnifying Party shall
have the right to defend, with counsel reasonably satisfactory to all the Indemnified Parties, at the sole cost and expense of
the Indemnifying Party, such Third Party Claim by all appropriate proceedings, which proceedings shall be vigorously and diligently
prosecuted by the Indemnifying Party to a final conclusion or will be settled at the discretion of the Indemnifying Party (but
only with the consent of the Indemnified Parties in the case of any settlement that provides for any relief other than the payment
of monetary damages or that provides for the payment of monetary damages as to which the Indemnified Parties shall not be indemnified
in full pursuant to Section 9.2). The Indemnifying Party shall have full control of such defense and proceedings, including any
compromise or settlement thereof; provided, however, that the Indemnified Party may, at the sole cost and expense
of the Indemnified Party, at any time prior to the Indemnifying Party’s delivery of the notice referred to in the first sentence
of this clause (i), file any motion, answer or other pleadings or take any other action that the Indemnified Party reasonably believes
to be necessary or appropriate to protect its interests; and provided, further, that if requested by the Indemnifying
Party, the Indemnified Party will, at the sole cost and expense of the Indemnifying Party, provide reasonable cooperation to the
Indemnifying Party in contesting any Third Party Claim that the Indemnifying Party elects to contest. The Indemnified Party may
participate in, but not control, any defense or settlement of any Third Party Claim controlled by the Indemnifying Party pursuant
to this clause (i), and except as provided in the preceding sentence, the Indemnified Party shall bear its own costs and expenses
with respect to such participation. Notwithstanding the foregoing, the Indemnified Party may takeover the control of the defense
or settlement of a Third Party Claim at any time if it irrevocably waives its right to indemnity under Section 9.2 with respect
to such Third Party Claim.

 

(ii)            
If the Indemnifying Party fails to notify the Indemnified Party within the Dispute Period that the Indemnifying Party desires to
defend the Third Party Claim pursuant to Section 9.3(a), or if the Indemnifying Party gives such notice but fails to prosecute
in a reasonable manner and in good faith or settle the Third Party Claim, or if the Indemnifying Party fails to give any notice
whatsoever within the Dispute Period, then the Indemnified Party shall have the right to defend, at the sole cost and expense of
the Indemnifying Party, the Third Party Claim by all appropriate proceedings, which proceedings shall be prosecuted by the Indemnified
Party in a reasonable manner and in good faith or will be settled by the Indemnified Party(with the consent of the Indemnifying
Party, which consent will not be unreasonably withheld). The Indemnified Party will have full control of such

    	 

     

    

defense
and proceedings, including any compromise or settlement thereof (subject to the foregoing consent requirement); provided, however,
that if requested by the Indemnified Party, the Indemnifying Party will, at the sole cost and expense of the Indemnifying Party,
provide reasonable cooperation to the Indemnified Party and its counsel in contesting any Third Party Claim which the Indemnified
Party is contesting. Notwithstanding the foregoing provisions of this clause (ii), if the Indemnifying Party has notified the
Indemnified Party within the Dispute Period that the Indemnifying Party disputes its liability or the amount of its liability
hereunder to the Indemnified Party with respect to such Third Party Claim and if such dispute is resolved in favor of the Indemnifying
Party in the manner provided in clause (iii) below, the Indemnifying Party will not be required to bear the costs and expenses
of the Indemnified Party’s defense pursuant to this clause (ii) or of the Indemnifying Party’s participation therein
at the Indemnified Party’s request, and the Indemnified Party shall reimburse the Indemnifying Party in full for all reasonable
costs and expenses incurred by the Indemnifying Party in connection with such litigation. The Indemnifying Party may participate
in, but not control, any defense or settlement controlled by the Indemnified Party pursuant to this clause (ii), and the Indemnifying
Party shall bear its own costs and expenses with respect to such participation.

 

(iii)           
If the Indemnifying Party notifies the Indemnified Party that it does not dispute its liability or the amount of its liability
to the Indemnified Party with respect to the Third Party Claim under Section 9.2 or fails to notify the Indemnified Party within
the Dispute Period whether the Indemnifying Party disputes its liability or the amount of its liability to the Indemnified Party
with respect to such Third Party Claim, the amount of Damages specified in the Claim Notice shall be conclusively deemed a liability
of the Indemnifying Party under Section 9.2 and the Indemnifying Party shall pay the amount of such Damages to the Indemnified
Party on demand. If the Indemnifying Party has timely disputed its liability or the amount of its liability with respect to such
claim, the Indemnifying Party and the Indemnified Party shall proceed in good faith to negotiate a resolution of such dispute;
provided, however, that if the dispute is not resolved within thirty (30) days after the Claim Notice, the Indemnifying
Party shall be entitled to institute such legal action as it deems appropriate.

 

(b)             
In the event any Indemnified Party should have a claim under Section 9.2 against the Indemnifying Party that does not involve a
Third Party Claim, the Indemnified Party shall deliver a written notification of a claim for indemnity under Section 9.2 specifying
the nature of and basis for such claim, together with the amount or, if not then reasonably ascertainable, the estimated amount,
determined in good faith, of such claim (an “Indemnity Notice”) with reasonable promptness to the Indemnifying
Party. The failure by any Indemnified Party to give the Indemnity Notice shall not impair such party’s rights hereunder except
to the extent that the Indemnifying Party demonstrates that it has been irreparably prejudiced thereby. If the Indemnifying Party
notifies the Indemnified Party that it does not dispute the claim or the amount of the claim described in such Indemnity Notice
or fails to notify the Indemnified Party within the Dispute Period whether the Indemnifying Party disputes the claim or the amount
of the claim described in such Indemnity Notice, the amount of Damages specified in the Indemnity Notice will be conclusively deemed
a liability of the

    	 

     

    

Indemnifying Party under
Section 9.2 and the Indemnifying Party shall pay the amount of such Damages to the Indemnified Party on demand. If the Indemnifying
Party has timely disputed its liability or the amount of its liability with respect to such claim, the Indemnifying Party and the
Indemnified Party shall proceed in good faith to negotiate a resolution of such dispute; provided, however, that if the dispute
is not resolved within thirty (30) days after the Claim Notice, the Indemnifying Party shall be entitled to institute such legal
action as it deems appropriate. 

 

(c)             
The Indemnifying Party agrees to pay the Indemnified Party, promptly as such expenses are incurred and are due and payable, for
any reasonable legal fees or other reasonable expenses incurred by them in connection with investigating or defending any such
Claim. In respect of any claim for indemnification, all the Indemnified Parties will be represented by one counsel of their selection,
unless they provide an opinion of counsel to the Indemnifying Party that the Indemnified Parties have defenses that are separate
from those of the other Indemnified Parties or the Indemnifying Party, in which case those persons with separate defenses shall
be reimbursed for separate counsel to the extent necessary.

 

(d)             
The indemnity provisions contained herein shall be in addition to (i) any cause of action or similar rights of the Indemnified
Party against the Indemnifying Party or others, and (ii) any liabilities the Indemnifying Party may be subject to.

 

ARTICLE X

MISCELLANEOUS

 

Section
10.1           GOVERNING LAW; JURISDICTION. This Agreement shall
be governed by and interpreted in accordance with the laws of the State of Kansas without regard to the principles of conflicts
of law. Each of the Company and the Investor hereby submits to the exclusive jurisdiction of the United States federal and state
courts located in Kansas, County of Johnson, with respect to any dispute arising under the Transaction Documents or the transactions
contemplated thereby.

 

Section
10.2           JURY TRIAL WAIVER. The Company and the Investor hereby
waive a trial by jury in any action, proceeding or counterclaim brought by either of the parties hereto against the other in respect
of any matter arising out of or in connection with the Transaction Documents.

 

Section
10.3           ASSIGNMENT. This Agreement shall be binding upon and
inure to the benefit of the Company and the Investor and their respective successors. Neither this Agreement nor any rights of
the Investor or the Company hereunder may be assigned by either party to any other Person.

 

Section
10.4           NO THIRD PARTY BENEFICIARIES. This Agreement is intended
for the benefit of the Company and the Investor and their respective successors, and is not for the benefit of, nor may any provision
hereof be enforced by, any other Person, except as set forth in Section 9.3.

    	 

     

    

 

Section 10.5         TERMINATION.
The Company may terminate this Agreement at any time by written notice to the Investor, except during any Valuation Period. In
addition, this Agreement shall automatically terminate on the earlier of (i) the end of the Commitment Period; (ii) the date that
the Company sells and the Investor purchases the Maximum Commitment Amount; or (iii) the date in which the Registration Statement
is no longer effective, or (iv) the date that, 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; Upon any termination
of this Agreement, the provisions of Article III, ,Section 5.2 (confidentiality only), Article VI, Article IX and Article X (other
than Section 10.15 shall survive the termination of this Agreement.

 

Section
10.6           ENTIRE AGREEMENT. The Transaction Documents, together
with the exhibits and schedules thereto, contain the entire understanding of the Company and the Investor with respect to the matters
covered herein and therein and supersede all prior agreements and understandings, oral or written, with respect to such matters,
which the parties acknowledge have been merged into such documents, exhibits and schedules.

 

Section
10.7           FEES AND EXPENSES. Except as expressly set forth in
the Transaction Documents or any other writing to the contrary, each party shall pay the fees and expenses of its advisers, counsel,
accountants and other experts, if any, and all other expenses incurred by such party incident to the negotiation, preparation,
execution, delivery and performance of this Agreement. The Company shall pay all Transfer Agent fees (including, without limitation,
any fees required for same-day processing of any instruction letter delivered by the Company), stamp taxes and other taxes and
duties levied in connection with the delivery of any Securities to the Investor. Upon execution of this Agreement, the Company
shall issue the Commitment Shares to Investor for its commitment to enter into this Agreement. The Commitment Shares shall be earned
in full upon the execution of this Agreement, and the Commitment Shares are not contingent upon any other event or condition, including
but not limited to the effectiveness of the Registration Statement or the Company’s submission of a Put Notice to the Investor.
In addition, the Investor shall withhold $15,000.00 of the Investment Amount of the first Put under this Agreement for reimbursement
of Investor’s legal fees relating to the preparation of this Agreement.

 

Section
10.8           COUNTERPARTS. This Agreement may be executed in multiple
counterparts, each of which may be executed by less than all of the parties and shall be deemed to be an original instrument which
shall be enforceable against the parties actually executing such counterparts and all of which together shall constitute one and
the same instrument. This Agreement may be delivered to the other parties hereto by email of a copy of this Agreement bearing the
signature of the parties so delivering this Agreement.

 

Section 10.9           SEVERABILITY.
In the event that any provision of this Agreement becomes or is declared by a court of competent jurisdiction to be illegal,

    	 

     

    

unenforceable or void, this Agreement
shall continue in full force and effect without said provision; provided that such severability shall be ineffective if it materially
changes the economic benefit of this Agreement to any party.

  

Section
10.10           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.

 

Section
10.11         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.

 

Section
10.12           EQUITABLE RELIEF. The Company recognizes that in
the event that it fails to perform, observe, or discharge any or all of its obligations under this Agreement, any remedy at law
may prove to be inadequate relief to the Investor. The Company therefore agrees that the Investor shall be entitled to temporary
and permanent injunctive relief in any such case without the necessity of proving actual damages.

 

Section
10.13           TITLE AND SUBTITLES. The titles and subtitles used
in this Agreement are used for the convenience of reference and are not to be considered in construing or interpreting this Agreement.

 

Section 10.14           AMENDMENTS;
WAIVERS. No provision of this Agreement may be amended or waived by the parties from and after the date that is one (1) Trading
Day immediately preceding the initial 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.

 

Section
10.15           PUBLICITY. The Company and the Investor shall consult
with each other in issuing any press releases or otherwise making public statements with respect to the transactions contemplated
hereby and no party shall issue any such press release or otherwise make any such public statement, other than as required by law,
without the prior written consent of the other parties, which consent shall not be unreasonably withheld or delayed, except that
no prior consent shall be required if such disclosure is required by law, in which such case the disclosing party shall provide
the other party with prior notice of such public statement. Notwithstanding the foregoing, the Company shall not publicly disclose
the name of the Investor without the prior written consent of the Investor, except to the extent required by law. The Investor
acknowledges that this Agreement and all or part of the

    	 

     

    

Transaction Documents may
be deemed to be “material contracts,” as that term is defined by Item 601(b)(10) of Regulation S-K, and that the Company
may therefore be required to file such documents as exhibits to reports or registration statements filed under the Securities Act
or the Exchange Act. The Investor further agrees that the status of such documents and materials as material contracts shall be
determined solely by the Company, in consultation with its counsel.

 

 

[Signature Page Follows]

 

    	 

     

    

IN
WITNESS WHEREOF, the parties have caused this Agreement to be duly executed by their respective officers thereunto duly authorized
as of the day and year first above written.

  

ORIGIN
AGRITECH LIMITED

 

 

By: /S. William
Neibur

Name: William
Niebur

Title: Chief
Executive Officer

 

 

L2
CAPITAL, LLC

 

 

By: /S/ Adam
Long

Name: Adam
Long

Title: Managing
Partner

 

 

 

 

[Signature Page to equity purchase
agreement]

    	 

     

    

DISCLOSURE SCHEDULES TO 

EQUITY PURCHASE AGREEMENT

 

 

Schedule 4.3 – Capitalization

 

None.

 

Schedule 4.5 – SEC Documents 

 

None.

 

Schedule 4.9 – Litigation 

 

None.

 

Schedule 4.10 – Registration Rights

 

None.

 

    	 

     

    

EXHIBIT A

 

FORM OF PUT NOTICE

 

 

TO:
L2 CAPITAL, LLC

DATE:
____________________

 

We
refer to the equity purchase agreement, dated July 5, 2017 (the “Agreement”), entered into by and between Origin
Agritech Limited and you. Capitalized terms defined in the Agreement shall, unless otherwise defined herein, have the same meaning
when used herein.

 

We
hereby:

 

1) 
Give you notice that we require you to purchase                     
Put Shares; and

 

2)
The purchase price per share, pursuant to the terms of the Agreement, is _________; and

 

3) 
Certify that, as of the date hereof, the conditions set forth in Section 7.2 of the Agreement are satisfied.

 

 

ORIGIN
AGRITECH LIMITED

 

 

By: _______________________

Name: William
Niebur

Title: Chief
Executive Officer

 

    	 

     

    

 

 

EXHIBIT B

 

FORM OF OFFICER’S CERTIFICATE

OF ORIGIN AGRITECH LIMITED

 

Pursuant
to Section 7.2(k) of that certain equity purchase agreement, dated July 5, 2017 (the “Agreement”), by and between
Origin Agritech Limited (the “Company”) and L2 Capital, LLC (the “Investor”), the undersigned,
in his capacity as Chief Executive Officer of the Company, and not in his individual capacity, hereby certifies, as of the date
hereof (such date, the “Condition Satisfaction Date”), the following:

 

1.          The representations and warranties of the Company are true and correct in all material respects as of the Condition Satisfaction
Date as though made on the Condition Satisfaction Date (except for representations and warranties specifically made as of a particular
date) with respect to all periods, and as to all events and circumstances occurring or existing to and including the Condition
Satisfaction Date, except for any conditions which have temporarily caused any representations or warranties of the Company set
forth in the Agreement to be incorrect and which have been corrected with no continuing impairment to the Company or the Investor;
and

 

2.          All of the conditions precedent to the obligation of the Investor to purchase Put Shares set forth in the Agreement, including
but not limited to Section 7.2 of the Agreement, have been satisfied as of the Condition Satisfaction Date.

 

Capitalized terms
used herein shall have the meanings set forth in the Agreement unless otherwise defined herein.

 

IN WITNESS
WHEREOF, the undersigned has hereunto affixed his hand as of the July 5, 2017.

 

 

By: _______________________

Name: William
Niebur

Title: Chief
Executive Officer

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