Document:

Exhibit
10.1

 

THE
SECURITIES TO WHICH THIS SUBSCRIPTION AGREEMENT RELATES AND THE SECURITIES ISSUABLE UPON CONVERSION OR EXERCISE THEREOF HAVE NOT
BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”), OR ANY
APPLICABLE STATE SECURITIES LAWS IN THE UNITED STATES AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES (AS SUCH
TERM IS DEFINED IN REGULATION S UNDER THE 1933 ACT) OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, A U.S. PERSON (AS SUCH TERM IS DEFINED
IN REGULATION S OF THE 1933 ACT), EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE 1933 ACT OR PURSUANT TO AN
AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, SUCH REGISTRATION REQUIREMENTS OF THE 1933 ACT, AND IN ACCORDANCE
WITH ANY APPLICABLE STATE SECURITIES LAWS. HEDGING TRANSACTIONS INVOLVING THE SECURITIES ARE PROHIBITED EXCEPT IN COMPLIANCE WITH
THE 1933 ACT. THIS SUBSCRIPTION AGREEMENT DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE
SECURITIES OFFERED HEREBY WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS EXCEPT IN THE LIMITED
CIRCUMSTANCES PROVIDED HEREIN PURSUANT TO TRANSACTIONS EXEMPT FROM REGISTRATION UNDER THE 1933 ACT AND ANY APPLICABLE STATE SECURITIES
LAWS.

 

NIOCORP
DEVELOPMENTS LTD.

CONVERTIBLE
NOTE AND WARRANT SUBSCRIPTION AGREEMENT

 

TO:
       NIOCORP DEVELOPMENTS LTD. (the “Issuer”)

 

The
undersigned (hereinafter referred to as the “Subscriber”) hereby irrevocably subscribes for and agrees to purchase
from the Issuer: (i) an unsecured convertible note (the “Convertible Note”) in the principal sum of US$1,871,621,
which will be convertible into common shares in the capital of the Issuer (each, a “Note Share”) at a price
per share equal to 92% of the volume weighted average trading price of the Issuer’s common shares on the Exchange (as defined
below) for five (5) consecutive trading days immediately prior to conversion of the Convertible Note pursuant to the terms and
conditions set out therein; and (ii) 500,000 common share purchase warrants (the “Warrants”), each entitling
the Subscriber to acquire one (1) additional common share in the capital of the Issuer (each, a “Warrant Share”),
exercisable for a period of 24 months following Closing (as defined below) at an exercise price equal to 107% of the volume weighted
average trading price of the Issuer’s common shares on the Exchange for five (5) consecutive trading days immediately prior
to Closing, upon and subject to the terms and conditions, and the covenants, representations and warranties set forth in this
Subscription Agreement (as defined below), including the attached “Terms and Conditions of Subscription” (including,
without limitation, the representations, warranties and covenants set forth in the applicable schedules attached hereto). The
Subscriber further agrees, without limitation, that the Issuer may rely upon the Subscriber’s representations, warranties
and covenants contained in this Subscription Agreement.

 

SUBSCRIPTION
AND SUBSCRIBER INFORMATION

 

Please
print all information (other than signatures), as applicable, in the space provided below. 

 

	 	 	Beneficial
                                         Owner of Subscriber

         

        The
        Subscriber represents and warrants that it has ☐ / does not have ☐ (check one) a Beneficial Owner (as
        defined         in the Terms and Conditions of Subscription) and, if it has a Beneficial Owner, the name and address of the
        Beneficial         Owner is as follows:

         

        

 

Name
of Beneficial Owner 

 

        

 

Address
of Beneficial Owner

         

         

        

         

         

         

         

         

         

         

         

         

         

         

         

         

	 	 
	Subscriber’s
                                         Information and Signature

        

         

        Nordmin
        Engineering Ltd. 

        

 

Name
of Subscriber – please print

         

        /s/ Chris Dougherty

        

 

Signature
(of authorized signatory)

         

        Chairman 

        

 

Official
Capacity or Title (of authorized signatory)

          

        Chris Dougherty 

        

 

Please
print name of individual whose signature appears above. 

         

        160 Logan Ave 

        

 

Subscriber’s
Address 

 

Thunder Bay, ON P7A 6R1

 

 

        

        

 

Subscriber’s
Telephone Number

         

         

         

         

         

         
	 
	 
	 
	 
	 
	 

 

     

     

    

 

	Registration
                                         Instructions (if different from the Subscriber’s name and address given
                                         under Subscriber’s Information):

                                                                                                                                          

                                         

 

Name

         

        

 

        Account reference, if applicable

        

        

 

Address (including postal code)

        

        

 

Telephone Number and Contact Name

        

 
	 	Delivery
    Instructions (if different from the Subscriber’s name and address given under Subscriber’s Information):

    

    

 

 Name 

    

 

Account reference, if applicable

    

     

Address (including postal code)

    

    

 

Telephone Number and Contact Name

 

Present
Ownership of Securities

 

The
Subscriber either [check appropriate box]:

 

	 	 	does
    not currently own directly or indirectly, or exercises control or direction over, any common shares in the capital of the
    Issuer or securities convertible into common shares in the capital of the Issuer; or
	 	 
	 	 	owns
    directly or indirectly, or exercises control or direction over, __________ common shares in the capital of the Issuer, and
    convertible securities entitling the Subscriber to acquire an additional __________ common shares in the capital of the Issuer.
	 	 

 

Insider
Status

 

The
Subscriber either [check appropriate box]:

 

	 	 	is
    an “Insider” of the Issuer as defined in the Securities Act (British Columbia); or
	 	 	is
    not an Insider of the Issuer.

 

Registrant
Status

 

The
Subscriber either [check appropriate box]:

 

	 	 	is
    a “Registrant” as defined in the Securities Act (British Columbia); or
	 	 	is
    not a “Registrant”.

 

U.S.
Purchaser Status

The Subscriber either [check appropriate box]:

 

	 	 	is
    a “U.S. Purchaser” as defined in the Terms and Conditions below; or
	 	 	is
    not a “U.S. Purchaser”.

 

     

     

    

  

ACCEPTANCE

 

The
Issuer hereby accepts the subscription as set forth above on the terms and conditions contained in this Subscription Agreement.

 

DATED
as of December 18, 2020.

 

	 	NIOCORP
    DEVELOPMENTS LTD.
	 	 
	 	Per: 	/s/
    Neal S. Shah 
	 	 	 Authorized
    Signatory

 

     

     

    

 

NIOCORP
DEVELOPMENTS LTD.

 

SUBSCRIPTION
FOR CONVERTIBLE NOTE AND WARRANTS

 

INSTRUCTIONS

 

To
properly complete this Subscription Agreement, you must:

 

		(1)	Complete
and execute the first two pages.

 

		(2)	Confirm,
                                         in accordance with Section 4(b) of the Terms and Conditions of Subscription attached
                                         hereto, that you are purchasing the Convertible Note and Warrants in exchange for
                                         the settlement of a bona fide debt in accordance with section 2.14 of NI 45-106.

 

		(3)	Complete
                                         and execute Schedule A – Regulation S Certificate.

 

Procedure
and Delivery:

 

The
signed Subscription Agreement, including all required schedules, should be filled out, signed and delivered at such time, date
or place as the Subscriber may be advised to:

 

NioCorp
Developments Ltd.

7000 South Yosemite Street, Suite 115

Centennial, CO

80112

Attn: John F. Ashburn, Jr.

 

email: jashburn@niocorp.com

 

     iv

     

    

 

TERMS
AND CONDITIONS OF SUBSCRIPTION 

CONVERTIBLE NOTE AND WARRANTS OF NIOCORP DEVELOPMENTS LTD.

 

		1.	Definitions
                                         and Interpretation

 

		(a)	In
                                         this Subscription Agreement, unless the context required otherwise:

 

		(i)	“1933
                                         Act” means the United States Securities Act of 1933, as amended;

 

		(ii)	“B.C.
                                         Act” means the Securities Act (British Columbia), the regulations and
                                         rules made thereunder and all administrative policy statements, blanket orders, notices,
                                         directions and rulings issued or adopted by the British Columbia Securities Commission,
                                         all as amended;

 

		(iii)	“Business
                                         Day” means a day other than a Saturday, Sunday or a holiday on which principal
                                         chartered banks located in Vancouver, British Columbia are not open for business;

 

		(iv)	“Closing”
                                         has the meaning set forth in section 3;

 

		(v)	“Closing
                                         Date” means such date as may be determined by the Issuer;

 

		(vi)	“Closing
                                         Time” means such time as may be determined by the Issuer;

 

		(vii)	“Exchange”
                                         means the Toronto Stock Exchange;

 

		(viii)	“FSE”
                                         means the Frankfurt Stock Exchange;

 

		(ix)	“Insider”
                                         has the meaning set forth in section 1(1) of the B.C. Act;

 

		(x)	“Issuer”
                                         means NioCorp Developments Ltd.;

 

		(xi)	“NI
                                         45-106” means National Instrument 45-106 Prospectus Exemptions published
                                         by the Canadian Securities Administrators;

 

		(xii)	“Offering”
                                         means the offering by the Issuer of the Convertible Note and the Warrants to the Subscriber;

 

		(xiii)	“OTCQX”
                                         means the OTC Markets Group’s OTCQX exchange;

 

		(xiv)	“Parties”
                                         means collectively, the Subscriber and the Issuer and “Party” means
                                         any one of them, as the context requires;

 

		(xv)	“person”
                                         means any individual (whether acting as an executor, trustee, administrator, legal representative
                                         or otherwise), corporation, firm, partnership, sole proprietorship, syndicate, joint
                                         venture, trustee, trust, fund, unincorporated organization or association and every other
                                         form of legal or business entity of whatsoever nature or kind, and pronouns have a similar
                                         extended meaning;

 

     1

     

    

 

		(xvi)	“Personal
                                         Information” means any information about a person (whether individual or otherwise)
                                         and includes information contained in this Subscription Agreement, including the Schedules
                                         incorporated by reference herein;

 

		(xvii)	“Qualifying
                                         Jurisdictions” means the Provinces of British Columbia, Alberta, Saskatchewan,
                                         Ontario and New Brunswick;

 

		(xviii)	“Regulatory
                                         Authorities” has the meaning set forth in section 4;

 

		(xix)	“Securities
                                         Commissions” means, collectively, the securities commissions or other securities
                                         regulatory authorities in the Qualifying Jurisdictions;

 

		(xx)	“Securities”
                                         means, collectively, the Convertible Note, the Note Shares, the Warrants and the Warrant
                                         Shares;

 

		(xxi)	“Securities
                                         Laws” means the applicable Canadian provincial securities laws and United States
                                         federal and state securities laws and all applicable rules, regulations, notices and
                                         policies promulgated or published thereunder together with all applicable and legally
                                         enforceable published policy statements, policies, rules, blanket orders, rulings and
                                         notice of applicable securities regulatory authorities, as well as the published policies
                                         and rules of the Exchange;

 

		(xxii)	“Subscriber”
                                         means the subscriber for the Convertible Note and the Warrants as set out on the face
                                         page of this Subscription Agreement;

 

		(xxiii)	“Subscription
                                         Agreement” or “Agreement” means this subscription agreement
                                         (including the schedules hereto) and any instrument amending this Subscription Agreement;
                                         “hereof”, “hereto”, “hereunder”, “herein”
                                         and similar expressions mean and refer to this Subscription Agreement and not to a particular
                                         section or clause; and the expression “section” or “clause” followed
                                         by a number or letter means and refers to the specified section or clause of this Subscription
                                         Agreement;

 

		(xxiv)	“Taxes”
                                         means all taxes (including income tax, capital tax, payroll taxes, employer health tax,
                                         workers’ compensation payments, property taxes, custom and land transfer taxes),
                                         duties, royalties, levies, imposts, assessments, deductions, charges or withholdings
                                         and all liabilities with respect thereto including any penalty and interest payable with
                                         respect thereto;

 

		(xxv)	“United
                                         States” means the United States of America, its territories and possessions,
                                         any State of the United States and the District of Columbia;

 

		(xxvi)	“U.S.
                                         Person” has the meaning set forth in Rule 902(k) of Regulation S promulgated
                                         under the 1933 Act;

 

		(xxvii)	“U.S.
                                         Purchaser” is (a) any U.S. Person, (b) any person purchasing securities for
                                         the account or benefit of any U.S. Person or person in the United States, (c) any person
                                         who receives or received an offer to acquire the Securities while in the United States,
                                         and (d) any person who is, or whose authorized signatory is, in the United States at
                                         the time such person's buy order was made or this Subscription Agreement was executed
                                         or delivered;

 

     2

     

    

 

		(b)	Time
                                         is of the essence of this Agreement.

 

		(c)	This
                                         Agreement is to be read with all changes in gender or number as required by the context.

 

		(d)	The
                                         headings in this Agreement are for convenience of reference only and do not affect the
                                         interpretation of this Agreement.

 

		(e)	In
                                         this Agreement, unless otherwise stated, all references to “$” and “C$”
                                         are references to Canadian dollars (the lawful currency of Canada) and US$ refers to
                                         United States dollars (the lawful currency of the United States of America).

 

		2.	Subscription
                                         for the Convertible Note and the Warrants; Set-off of Subscription Price

 

		(a)	The
                                         Subscriber hereby confirms its irrevocable subscription for the Convertible Note and
                                         the Warrants from the Issuer, on and subject to the terms and conditions set out in this
                                         Subscription Agreement, for the subscription price of US$1,803,925, which amount will
                                         be set-off against the amount owing of US$1,803,925 (or US$1,871,621 inclusive of an
                                         implied 5% interest rate for the term of the Convertible Note) (the “Amount
                                         Owing”) from the Issuer to the Subscriber pursuant to the letter agreement
                                         between Elk Creek Resources Corp., a wholly owned subsidiary of the Issuer, and the Subscriber
                                         dated February 7, 2018 regarding the review and update of the mining method and extraction
                                         infrastructure concepts for the Elk Creek Project (the “Consulting Agreement”),
                                         the payment obligations of which have been assumed by the Issuer, and the Convertible
                                         Note and the Warrants will be issued in full and final satisfaction of the Amount Owing
                                         under the Consulting Agreement or otherwise. The Subscriber acknowledges that upon acceptance
                                         by the Issuer of this Subscription Agreement, the Subscription Agreement will constitute
                                         a binding obligation of the Subscriber, subject to the terms and subject to the conditions
                                         set out in this Subscription Agreement.

 

		(b)	The
                                         Convertible Note and the Warrants will be issued and registered in the name of the Subscriber
                                         as per the instructions on the face page of this Subscription Agreement.

 

		3.	Closing

 

Delivery
and sale of the Convertible Note and the Warrants will be completed (the “Closing”) at the offices of Blake
Cassels & Graydon LLP, 595 Burrard Street, Vancouver, British Columbia at the Closing Time or at such other place and time
as the Issuer may elect on such date or dates to be determined by the Issuer. Closing of the Offering will only occur if, prior
to the Closing Time, the terms and conditions contained in this Subscription Agreement have been complied with to the satisfaction
of the Issuer and Subscriber, including receipt by the Issuer of a completed Subscription Agreement for the Convertible Note and
the Warrants sold pursuant to the Offering.

 

If,
prior to the Closing Time, the terms and conditions contained in this Subscription Agreement (other than delivery by the Issuer
to the Subscriber of certificates representing the Convertible Note and the Warrants) have not been complied with to the satisfaction
of the Issuer and Subscriber, the Issuer and the Subscriber will have no further obligations under this Subscription Agreement.

 

     3

     

    

 

		4.	Conditions
                                         of Closing

 

This
Subscription Agreement shall be subject to acceptance by the Issuer and approval by the Exchange and any other stock exchange
or regulatory authority having jurisdiction with respect to the Issuer (collectively, the “Regulatory Authorities”).

 

The
Subscriber acknowledges and agrees that the obligations of the Issuer hereunder are conditional on the accuracy of the representations
and warranties of the Subscriber contained in this Subscription Agreement as of the date of this Subscription Agreement, and as
of the Closing Time as if made at and as of the Closing Time, and the fulfillment of the following additional conditions as soon
as possible and in any event not later than the Closing Time:

 

		(a)	the
                                         Subscriber having properly completed, signed and delivered this Subscription Agreement
                                         to:

 

NioCorp
Developments Ltd.

7000 South Yosemite Street, Suite 115

Centennial, CO 80112

Attn: John F. Ashburn, Jr.

email: jashburn@niocorp.com

 

		(b)	the
                                         Subscriber hereby confirms that it is purchasing Securities in exchange for the settlement
                                         of a bona fide debt in accordance with section 2.14 of National Instrument
                                         45-106;

 

		(c)	the
                                         Subscriber having properly completed, signed and delivered the Regulation S Certificate
                                         attached as Schedule A hereto;

 

		(d)	the
                                         Issuer having accepted this Subscription Agreement;

 

		(e)	all
                                         necessary regulatory and conditional Exchange approvals having been obtained by the Issuer;
                                         and

 

		(f)	the
                                         Subscriber having properly completed, signed and delivered a termination agreement with
                                         respect to the termination of the Consulting Agreement in a form satisfactory to the
                                         Issuer.

 

The
Issuer acknowledges and agrees that it is a further condition of Closing for the Issuer to deliver electronic copies of the Convertible
Note and the Warrants with originals to follow within five (5) Business Days after the Closing Time. Until such electronic delivery
of the Convertible Note and the Warrants to the Subscriber, all other closing documentation shall be held in escrow and either
(i) all closing documentation shall be released on confirmation of such electronic delivery and Closing shall be deemed to have
occurred at the Closing Time or (ii) if such electronic delivery is not completed, all Closing documentation shall be returned
to the persons who executed same and Closing shall be deemed not to have occurred. The Issuer shall further deliver the Note Shares
issuable on the exercise of conversion of part of the Convertible Note to be converted in accordance with Section 6(y) hereof
immediately following the Closing Time, to the Subscriber within five (5) Business Days after the Closing Time.

 

     4

     

    

 

		5.	Representations,
                                         Warranties and Covenants of the Issuer

 

The
Issuer represents and warrants to the Subscriber, and acknowledges that the Subscriber is relying upon such representations and
warranties in connection with the transactions contemplated herein, that:

 

		(a)	the
                                         Issuer is a valid and subsisting corporation incorporated and in good standing under
                                         the laws of British Columbia;

 

		(b)	the
                                         Issuer is duly registered and licensed to carry on business in the jurisdictions in which
                                         it carries on business or owns property where required under the laws of that jurisdiction;

 

		(c)	this
                                         Subscription Agreement has been or will be by the Closing, duly authorized by all necessary
                                         corporate action on the part of the Issuer, and the Issuer has or will have by the Closing
                                         full corporate power and authority to undertake the Offering;

 

		(d)	the
                                         common shares of the Issuer are, and will continue to be as of the Closing Date, listed
                                         and posted for trading on the Exchange;

 

		(e)	the
                                         Issuer will apply to, and use commercially reasonable efforts to obtain the listing of
                                         the Note Shares and Warrant Shares issuable under the Offering on, the Exchange;

 

		(f)	the
                                         Issuer will use commercially reasonable efforts to assist the Subscriber to remove restrictive
                                         legends from the certificates for the Securities, to the extent permissible under Securities
                                         Laws;

 

		(g)	the
                                         Issuer has complied, or will comply, with all applicable corporate and securities laws
                                         and regulations in connection with the offer, sale and issuance of the Securities;

 

		(h)	no
                                         order ceasing or suspending trading in the securities of the Issuer or prohibiting sale
                                         of its securities has been issued to the Issuer or its directors, officers or promoters;

 

		(i)	the
                                         Issuer is a “reporting issuer” in the provinces of British Columbia, Alberta,
                                         Saskatchewan, Ontario and New Brunswick and is not included on the list of defaulting
                                         reporting issuers issued by the securities regulators in those jurisdictions;

 

		(j)	upon
                                         conversion of the Convertible Note, the Note Shares will be validly issued and outstanding
                                         as fully paid and non-assessable common shares in the capital of the Issuer;

 

		(k)	upon
                                         exercise of the Warrants in accordance with the terms thereof, the Warrant Shares will
                                         be validly issued and outstanding as fully paid and non-assessable common shares in the
                                         capital of the Issuer;

 

		(l)	the
                                         Issuer will reserve or set aside sufficient shares in its treasury to issue the Note
                                         Shares and Warrant Shares;

 

		(m)	there
                                         is no “material fact” or “material change” (as those terms are
                                         defined in applicable Securities Laws) in the affairs of the Issuer that has not been
                                         generally disclosed to the public; and

 

		(n)	this
                                         Subscription Agreement constitutes a binding and enforceable obligation of the Issuer,
                                         enforceable in accordance with its terms.

 

     5

     

    

 

		6.	Representations,
                                         Warranties, Covenants and Acknowledgements of the Subscriber

 

By
executing this Subscription Agreement, the Subscriber represents, warrants, covenants and acknowledges to and with the Issuer
(and acknowledges that the Issuer is relying thereon) that:

 

Authorization
and Effectiveness

 

		(a)	if
                                         the Subscriber is a corporation, the Subscriber is a valid and subsisting corporation,
                                         has the necessary corporate capacity and authority to enter into and to observe and perform
                                         its covenants and obligations under this Agreement and has taken all necessary corporate
                                         action in respect thereof;

 

		(b)	if
                                         the Subscriber is a partnership, syndicate or other unincorporated form of organization,
                                         the Subscriber has the necessary legal capacity and authority to execute and deliver
                                         this Agreement and perform its covenants and obligations hereunder and has obtained all
                                         necessary approvals thereof;

 

		(c)	this
                                         Subscription Agreement has been duly and validly authorized, executed and delivered by
                                         the Subscriber, and, when accepted by the Issuer, will constitute a legal, valid and
                                         binding obligation enforceable against the Subscriber in accordance with the terms hereof
                                         (subject to bankruptcy, insolvency and other laws limiting the enforceability of creditors’
                                         rights and subject to the qualification that equitable remedies may only be granted in
                                         the discretion of a court of competent jurisdiction);

 

		(d)	the
                                         execution and delivery of this Subscription Agreement, the performance and compliance
                                         with the terms hereof, the subscription for the Convertible Note and the Warrants and
                                         the completion of the transactions contemplated hereby will not result in any material
                                         breach of, or be in conflict with or constitute a material default under, or create a
                                         state of facts which, after notice or lapse of time, or both, would constitute a material
                                         default under any term or provision of the constating documents, by-laws or resolutions
                                         of the Subscriber, the Securities Laws or any other applicable law, any agreement to
                                         which the Subscriber is a party or any applicable regulation, judgment, decree, order
                                         or ruling;

 

		(e)	the
                                         Subscriber is not one of a combination of shareholders of the Issuer or investors in
                                         the Offering (including by acting jointly or in concert with any such shareholder or
                                         investor) as a consequence of which the issuance of Securities to the Subscriber hereunder
                                         (assuming the exercise of any convertible securities of the Issuer currently held by
                                         the Subscriber and any such other shareholders or investors) will result in, or be part
                                         of a transaction that will result in, the creation of a new “Insider” or
                                         “Control Person” of the Issuer under the policies of the Exchange and Securities
                                         Laws;

 

Residence

 

		(f)	the
                                         Subscriber is a resident of, or is otherwise subject to the laws of, the jurisdiction
                                         disclosed under “Subscriber’s Address” on the face page of this Subscription
                                         Agreement, and that such address is the place of business of the Subscriber at which
                                         the Subscriber received and accepted the offer to acquire the Securities and was not
                                         created or used solely for the purpose of acquiring the Securities;

 

     6

     

    

 

Eligibility
to Purchase under Prospectus Exemption

 

		(g)	the
                                         Subscriber is eligible to purchase the Securities pursuant to an exemption from the prospectus
                                         requirements of the Securities Laws by purchasing Securities in exchange for the settlement
                                         of a bona fide debt in accordance with section 2.14 of National Instrument
                                         45-106;

 

No
Prospectus or Undisclosed Information

 

		(h)	the
                                         Subscriber understands that the sale of the Securities is conditional upon such sale
                                         being exempt from the requirements to file and obtain a receipt for a prospectus or to
                                         deliver an offering memorandum, and no prospectus has been filed by the Issuer with any
                                         Regulatory Authority in any jurisdiction in connection with the issuance of the Securities.
                                         As a result of acquiring the Securities pursuant to such exemptions:

 

		(i)	certain
                                         protections, rights and remedies provided by the Securities Laws, including under the
                                         B.C. Act, including certain statutory rights of rescission or damages and certain statutory
                                         remedies against an issuer, underwriters, auditors, directors and officers that are available
                                         to investors who acquire securities offered by a prospectus or registration statement,
                                         may not be available to the Subscriber;

 

		(ii)	the
                                         common law may not provide investors with an adequate remedy in the event that they suffer
                                         investment losses in connection with securities acquired in a private placement;

 

		(iii)	the
                                         Subscriber may not receive certain information that would otherwise be required to be
                                         given under the Securities Laws, including under the B.C. Act; and

 

		(iv)	the
                                         Issuer is relieved from certain obligations that would otherwise apply under the Securities
                                         Laws, including under the B.C. Act;

 

		(i)	the
                                         Subscriber has not received or been provided with a prospectus or offering memorandum,
                                         within the meaning of the Securities Laws, or any sales or advertising literature in
                                         connection with the Offering. The Subscriber’s decision to subscribe for the Convertible
                                         Note and the Warrants was not based upon, and the Subscriber has not relied upon, any
                                         verbal or written representations as to fact made by or on behalf of the Issuer and their
                                         respective directors, officers, employees, agents and representatives. The Subscriber’s
                                         decision to subscribe for the Convertible Note and the Warrants was based solely upon
                                         this Subscription Agreement, and information about the Issuer which is publicly available;

 

		(j)	except
                                         for the Subscriber’s knowledge regarding its subscription for the Convertible Note
                                         and the Warrants hereunder, the Subscriber has no knowledge of a “material fact”
                                         or a “material change” (as those terms are defined in the applicable Securities
                                         Laws) in the affairs of the Issuer that has not been generally disclosed;

 

Investment
Suitability

 

		(k)	the
                                         Subscriber confirms that the Subscriber:

 

     7

     

    

 

		(i)	has
                                         such knowledge in financial and business affairs as to be capable of evaluating the merits
                                         and risks of its subscription for the Convertible Note and the Warrants;

 

		(ii)	is
                                         capable of assessing the proposed subscription of the Convertible Note and the Warrants
                                         as a result of the Subscriber’s own experience or as a result of advice received
                                         from a person registered under applicable Securities Laws;

 

		(iii)	is
                                         aware of the characteristics of the Securities and the risks relating to an investment
                                         therein; and

 

		(iv)	is
                                         able to bear the economic risk of loss of its investment in the Securities;

 

		(l)	the
                                         Subscriber understands and acknowledges that:

 

		(i)	no
                                         securities commission or similar regulatory authority has reviewed or passed on the merits
                                         of the Securities;

 

		(ii)	there
                                         is no government or other insurance covering the Securities;

 

		(iii)	there
                                         are risks associated with the purchase of the Securities;

 

		(iv)	there
                                         are restrictions on the Subscriber’s ability to resell the Securities and it is
                                         the responsibility of the Subscriber to find out what those restrictions are and to comply
                                         with them before selling the Securities;

 

		(v)	the
                                         Issuer has advised the Subscriber that the Issuer is relying on an exemption from the
                                         requirements to provide the Subscriber with a prospectus and to sell securities through
                                         a person registered to sell securities under Securities Laws and, as a consequence of
                                         acquiring securities pursuant to this exemption, certain protections, rights and remedies
                                         provided by Securities Laws, including statutory rights of rescission or damages, will
                                         not be available to the Subscriber; and

 

		(vi)	that
                                         it may lose its entire investment in the Securities;

 

No
Representations

 

		(m)	the
                                         Subscriber confirms that neither the Issuer, nor any of its directors, employees, officers
                                         or affiliates have made any representations (written or oral) to the Subscriber:

 

		(i)	regarding
                                         the future value of the Securities;

 

		(ii)	that
                                         any person will resell or repurchase the Securities;

 

		(iii)	that
                                         any person will refund the purchase price of the Securities other than as provided in
                                         this Subscription Agreement; or

 

     8

     

    

 

		(iv)	other
                                         than as described in Section 5(e), that any of the Issuer’s securities will be
                                         listed and posted for trading on a stock exchange or that an application has been made
                                         to list and post any of the Issuer’s securities for trading on a stock exchange,
                                         other than the Issuer’s common shares on the Exchange, OTCQX or FSE;

 

Limitations
on Resale

 

		(n)	the
                                         Subscriber understands and acknowledges that:

 

		(i)	the
                                         Securities will be subject to certain resale and transfer restrictions under applicable
                                         Securities Laws; and

 

		(ii)	the
                                         Securities may be subject to certain resale and transfer restrictions under the rules
                                         and policies of the Exchange;

 

		(o)	the
                                         Subscriber acknowledges that it has been advised to consult its own legal advisors with
                                         respect to applicable resale and transfer restrictions, that it is solely responsible
                                         for complying with such restrictions and it agrees to comply with the restrictions referred
                                         to in paragraph (n) above and all other applicable resale and transfer restrictions.
                                         The Subscriber will comply with all applicable Securities Laws concerning the subscription,
                                         purchase, holding and resale of the Securities and will not resell any of the Securities
                                         except in accordance with the provisions of applicable Securities Laws. In this regard,
                                         the Subscriber acknowledges that the Issuer may be required to put the following legends
                                         on any certificates representing the Securities if issued prior to the expiry of the
                                         applicable hold period:

 

“UNLESS
PERMITTED UNDER SECURITIES LEGISLATION, THE HOLDER OF THIS SECURITY MUST NOT TRADE THE SECURITY BEFORE [four months plus one day
after the Closing Date].”

 

“THE
SECURITIES REPRESENTED HEREBY [for the Convertible Note include: AND THE SECURITIES ISSUABLE UPON CONVERSION THEREOF] [for the
Warrants include: AND THE SECURITIES ISSUABLE UPON EXERCISE THEREOF] HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED (THE “U.S. SECURITIES ACT”), OR UNDER ANY STATE SECURITIES LAWS. THE HOLDER
HEREOF, BY PURCHASING THESE SECURITIES, AGREES FOR THE BENEFIT OF NIOCORP DEVELOPMENTS LTD. (THE “COMPANY”) THAT THESE
SECURITIES MAY BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED, DIRECTLY OR INDIRECTLY, ONLY (A) TO THE COMPANY, (B) IF THE
SECURITIES HAVE BEEN REGISTERED IN COMPLIANCE WITH THE REGISTRATION REQUIREMENTS UNDER THE U.S. SECURITIES ACT AND IN ACCORDANCE
WITH APPLICABLE STATE SECURITIES LAWS, (C) IN COMPLIANCE WITH THE EXEMPTION FROM THE REGISTRATION REQUIREMENTS UNDER THE U.S.
SECURITIES ACT IN ACCORDANCE WITH RULE 144 THEREUNDER, IF APPLICABLE, AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS,
OR (D) IN A TRANSACTION THAT DOES NOT REQUIRE REGISTRATION UNDER THE U.S. SECURITIES ACT OR ANY APPLICABLE STATE SECURITIES LAWS
AND REGULATIONS GOVERNING THE OFFER AND SALE OF SECURITIES, AND, IN THE CASE OF ANY OFFER, SALE, PLEDGE OR TRANSFER PURSUANT TO
CLAUSE (C) OR (D), THE HOLDER HAS, PRIOR TO SUCH OFFER, SALE, PLEDGE OR TRANSFER, FURNISHED TO THE COMPANY AN OPINION OF COUNSEL
OF RECOGNIZED STANDING, CERTIFICATION AND/OR OTHER EVIDENCE OF EXEMPTION, IN EACH CASE, REASONABLY SATISFACTORY TO THE COMPANY
TO SUCH EFFECT. HEDGING TRANSACTIONS INVOLVING THE SECURITIES ARE PROHIBITED EXCEPT IN COMPLIANCE WITH THE U.S. SECURITIES ACT.
THESE SECURITIES MAY NOT CONSTITUTE “GOOD DELIVERY” IN SETTLEMENT OF TRANSACTIONS ON CANADIAN STOCK EXCHANGES.”

 

     9

     

    

 

[For
the Convertible Note only: “THE SECURITIES REPRESENTED HEREBY AND THE SECURITIES ISSUABLE UPON CONVERSION THEREOF HAVE NOT
BEEN REGISTERED UNDER THE U.S. SECURITIES ACT. THE SECURITIES REPRESENTED HEREBY MAY NOT BE CONVERTED UNLESS THE SECURITIES ISSUABLE
UPON CONVERSION THEREOF HAVE BEEN REGISTERED UNDER THE U.S. SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS OR EXEMPTIONS
FROM SUCH REGISTRATION REQUIREMENTS ARE AVAILABLE.”]

 

[For
the Warrants only: “THE SECURITIES REPRESENTED HEREBY AND THE SECURITIES ISSUABLE UPON EXERCISE THEREOF HAVE NOT BEEN REGISTERED
UNDER THE U.S. SECURITIES ACT. THE SECURITIES REPRESENTED HEREBY MAY NOT BE EXERCISED UNLESS THE SECURITIES ISSUABLE UPON EXERCISE
THEREOF HAVE BEEN REGISTERED UNDER THE U.S. SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS OR EXEMPTIONS FROM SUCH REGISTRATION
REQUIREMENTS ARE AVAILABLE.”]

 

		(p)	the
                                         Subscriber acknowledges that it is responsible for obtaining its own legal, investment
                                         and other professional advice with respect to the resale restrictions, “hold periods”
                                         and legending requirements to which the Securities are or may be subject under the 1933
                                         Act. The Subscriber has not relied upon any statements made by or purporting to have
                                         been made on behalf of the Issuer or its counsel with respect to such matters;

 

		(q)	the
                                         Subscriber acknowledges and agrees that the Issuer shall make a notation on its records
                                         or give instructions to the transfer agent of the Subscriber’s Securities in order
                                         to implement the restrictions on transfer set out in the Subscription Agreement and applicable
                                         Securities Laws;

 

United
States Securities Laws

 

		(r)	the
                                         Subscriber acknowledges and agrees that the Subscriber has indicated above that the Subscriber
                                         is not a U.S. Purchaser, has executed and delivered Schedule A hereto (Regulation
                                         S Certificate) and hereby is deemed to have made the representations, warranties and
                                         acknowledgments contained therein as if set forth herein in full;

 

		(s)	at
                                         the time the Subscriber was offered the Convertible Note and the Warrants, it was, and
                                         as of the date of this Subscription Agreement, it is, an “accredited investor”
                                         as defined in Rule 501(a) of Regulation D under the 1933 Act. The Subscriber is not,
                                         and is not required to be, registered as a broker or dealer under section 15 of the United
                                         States Securities Exchange Act of 1934, as amended.

 

     10

     

    

 

No
Financial Assistance

 

		(t)	the
                                         Subscriber has not received or expects to receive any financial assistance from the Issuer
                                         directly or indirectly, in respect of the Subscriber’s purchase of the Securities;

 

Future
Financings

 

		(u)	the
                                         Subscriber acknowledges that the Issuer may complete additional financings in the future
                                         to develop the business of the Issuer and to fund its ongoing development. There is no
                                         assurance that such financing will be available and if available, on reasonable terms.
                                         Any such future financings may have a dilutive effect on current shareholders, including
                                         the Subscriber;

 

No
Advertising

 

		(v)	the
                                         Subscriber has not become aware of any advertisement in printed media of general and
                                         regular paid circulation or on radio, television or other form of telecommunication or
                                         any other form of advertisement (including electronic display on the internet including
                                         but not limited to the Issuer’s website) or sales literature with respect to the
                                         distribution of the Securities or any seminar or meeting whose attendees have been invited
                                         by general solicitation or general advertising;

 

Other
Documents

 

		(w)	if
                                         required by Securities Laws or by any securities commission, stock exchange or other
                                         regulatory authority, the Subscriber will execute, deliver, file and otherwise assist
                                         the Issuer in filing, such reports, undertakings and other documents with respect to
                                         the subscription for and issuance of the Securities;

 

Initial
Subscriber Conversion 

 

		(x)	the
                                         Subscriber confirms that, immediately following the Closing Time on the Closing Date,
                                         the Subscriber shall deliver to the Issuer a conversion notice (in the form attached
                                         as Exhibit “A” of the Convertible Note) electing to convert US$450,000 of
                                         the Convertible Note into Note Shares in accordance with the terms and conditions of
                                         the Convertible Note.

 

Subscriber’s
Responsibility for Legal and Financial Advice

 

		(y)	the
                                         Subscriber confirms that it is responsible for obtaining its own legal, tax, investment
                                         and other professional advice with respect to the execution, delivery and performance
                                         by it of this Subscription Agreement and the transactions contemplated hereunder including
                                         the suitability of the Securities as an investment for the Subscriber, the tax consequences
                                         of purchasing and dealing with the Securities, and the resale restrictions and “hold
                                         periods” to which the Securities are or may be subject under Securities Laws. The
                                         Subscriber has not relied upon any statements made by or purporting to have been made
                                         on behalf of the Issuer or its counsel with respect to such matters; and

 

     11

     

    

 

		(z)	the
                                         Subscriber acknowledges that the Issuer’s counsel is acting solely as counsel to
                                         the Issuer and not as counsel to the Subscriber.

 

		7.	Reliance
                                         on Representations, Warranties, Covenants and Acknowledgements

 

The
Subscriber acknowledges and agrees that the representations, warranties, covenants and acknowledgements made by the Subscriber
in this Subscription Agreement, including the Schedules hereto, are made with the intention that they may be relied upon by the
Issuer in determining the Subscriber’s eligibility (and, if applicable, the eligibility of others for whom the Subscriber
is contracting hereunder) to purchase the Securities under Securities Laws. The Subscriber further agrees that by accepting the
Securities, the Subscriber will be representing and warranting that such representations, warranties, covenants and acknowledgements
are true as at the Closing Time with the same force and effect for the benefit of the Issuer as if they had been made by the Subscriber
at the Closing Time and that they will survive the purchase by the Subscriber of the Securities and will continue in full force
and effect for the benefit of the Issuer notwithstanding any subsequent disposition by the Subscriber of any of the Securities.

 

		8.	Indemnity

 

The
Subscriber acknowledges that the Issuer and its counsel are relying upon the representations, warranties, covenants and acknowledgements
of the Subscriber set forth herein (including the Schedules attached hereto) in determining the eligibility of the Subscriber
(or, if applicable, the eligibility of another on whose behalf the Subscriber is contracting hereunder to subscribe for Securities)
to purchase Securities under the Offering, and hereby agrees to indemnify the Issuer and its directors, officers, employees, advisers,
affiliates, shareholders and agents (including their legal counsel) against all losses, claims, costs, expenses, damages or liabilities
that they may suffer or incur as a result of or in connection with their reliance on such representations, warranties, acknowledgements
and covenants. The Subscriber undertakes to immediately notify the Issuer of any change in any statement or other information
relating to the Subscriber set forth herein that occurs prior to the Closing Time.

 

		9.	Subscriber’s
                                         Costs

 

The
Subscriber acknowledges and agrees that all costs incurred by the Subscriber (including any fees and disbursements of any counsel
retained by the Subscriber) relating to the sale of the Securities to the Subscriber will be borne by the Subscriber.

 

		10.	Consent
                                         to the Disclosure of Information

 

This
Agreement and the attachments hereto require the Subscriber to provide certain Personal Information to the Issuer. Such information
is being collected by the Issuer for the purposes of completing the Offering of the Securities, which includes, without limitation,
determining the Subscriber’s eligibility to purchase the Subscriber’s Securities under applicable Securities Laws,
preparing and registering any certificates representing the Subscriber’s Securities to be issued to the Subscriber, completing
filings required by any stock exchange or securities regulatory authority, indirect collection of information by the applicable
stock exchange or Regulatory Authority under authority granted in applicable securities legislation and the administration and
enforcement of the securities legislation of an applicable jurisdiction by the applicable Regulatory Authority. The Subscriber
acknowledges that the Subscriber’s Personal Information, including details of its subscription hereunder, will be disclosed
by the Issuer to: (a) stock exchanges or securities regulatory authorities; (b) the Issuer’s registrar and transfer agent;
and (c) any of the other agents or representatives of the Issuer, including legal counsel to the Issuer; and may be disclosed
by the Issuer to (d) the Canada Revenue Agency; and (e) any other person to whom it is required to disclose such information under
applicable legislation or authority. By executing this Subscription Agreement, the Subscriber consents to and authorizes the foregoing
collection, use and disclosure of the Subscriber’s Personal Information. The Subscriber also consents to and authorizes
the filing of copies or originals of any of this Subscription Agreement (including attachments) below as may be required to be
filed with any stock exchange or securities regulatory authority in connection with the transactions contemplated hereby. In addition,
the Subscriber consents to and authorizes the collection, use and disclosure of all such Personal Information by the Exchange
and other regulatory authorities in accordance with their requirements, including the provision to third party service providers,
from time to time. The contact information for the officer of the Issuer who can answer questions about this collection of information
is as follows:

 

     12

     

    

 

NioCorp
Developments Ltd.

7000 South Yosemite Street, Suite 115

Centennial, CO 80112

Attn: John F. Ashburn, Jr.

email: jashburn@niocorp.com

 

The
Subscriber may contact the following public official in Ontario with respect to questions about the Ontario Securities Commission’s
indirect collection of such information at the following address and telephone number:

 

Administrative
Assistant to the Director of Corporate Finance

Ontario Securities Commission

Suite 1903, Box 55

20 Queen Street West

Toronto, ON M5H 3S8

Tel: (416) 593-8086

 

		11.	Miscellaneous

 

		(a)	This
                                         Subscription Agreement and all related agreements between the Parties hereto shall be
                                         governed by and construed in accordance with the laws of the Province of British Columbia,
                                         without reference to its rules governing the choice or conflict of laws. The Parties
                                         hereto irrevocably attorn and submit to the exclusive jurisdiction of the courts of the
                                         Province of British Columbia, sitting in the city of Vancouver, with respect to any dispute
                                         to or arising out of this Subscription Agreement.

 

		(b)	The
                                         Subscriber and the Issuer agree that they each will execute or cause to be executed and
                                         delivered all such further and other documents and assurances, and do and cause to be
                                         done all such further acts and things as may be necessary or desirable to give effect
                                         to this Subscription Agreement and without limiting the generality of the foregoing to
                                         do all acts and things, execute and deliver all documents, agreements and writings and
                                         provide such assurances, undertakings, information and investment letters as may be required
                                         from time to time by all applicable Regulatory Authorities or as may be required from
                                         time to time under applicable Securities Laws.

 

		(c)	This
                                         Subscription Agreement, which includes any interest granted or right arising under this
                                         Subscription Agreement, may not be assigned or transferred, without the written consent
                                         of the other Parties.

 

     13

     

    

 

		(d)	Except
                                         as expressly provided in this Subscription Agreement and in the agreements, instruments
                                         and other documents contemplated or provided for herein, this Subscription Agreement
                                         contains the entire agreement between the Parties with respect to the Securities and
                                         there are no other terms, conditions, representations or warranties whether expressed,
                                         implied, oral or written, by statute, by common law, by the Issuer, or by anyone else.

 

		(e)	Any
                                         notice or other communication to be given hereunder shall, in the case of notice to be
                                         given to:

 

the
Issuer, be addressed to:

 

NioCorp
Developments Ltd.

7000 South Yosemite Street, Suite 115

Centennial, CO 80112

Attn: John F. Ashburn, Jr.

email: jashburn@niocorp.com

 

with
a copy to the Issuer’s counsel:

 

Blake,
Cassels & Graydon LLP

2600-595 Burrard Street

Vancouver, BC V7X 1L3

 

Attention:
        Bob Wooder

Email:               bob.wooder@blakes.com

 

or
to such other address, email address or person that the Party designates by notice given in accordance with the foregoing provisions.
Any such notice: (i) if delivered personally or by courier, will be deemed to have been given and received on the date of such
delivery provided that if such day is not a Business Day then it will be deemed to have been given and received on the first Business
Day following such day; and (ii) if transmitted by email or other form of electronic communication, will be deemed to have been
given on the date of transmission if sent before 5:00 p.m. (Vancouver time) on a Business Day or, if not before 5:00 p.m. (Vancouver
time), on the first Business Day following the date of transmission provided that the sender has evidence of a successful transmission
such as a confirmation or electronic delivery receipt.

 

		(f)	All
                                         representations, warranties, agreements and covenants made or deemed to be made by the
                                         Issuer and the Subscriber herein will survive the execution and delivery, and acceptance,
                                         of this offer and the closing of the issue of the Securities contemplated hereby.

 

		(g)	Subject
                                         to the terms hereof, neither this Subscription Agreement nor any provision hereof shall
                                         be modified, changed, discharged or terminated except by an instrument in writing signed
                                         by the Party against whom any waiver, change, discharge or termination is sought.

 

		(h)	This
                                         Subscription Agreement shall enure to the benefit of and be binding upon the Parties
                                         and their respective heirs, executors, administrators and successors but otherwise cannot
                                         be assigned.

 

     14

     

    

 

		(i)	This
                                         Subscription Agreement may be executed in any number of counterparts, each of which when
                                         delivered, either in original or PDF or other electronic form, shall be deemed to be
                                         an original and all of which together shall constitute one and the same document. If
                                         less than a complete copy of this Subscription Agreement is delivered to the Issuer by
                                         the Subscriber (other than the execution pages of this Subscription Agreement required
                                         to be executed by the Subscriber), the Issuer and its advisors are entitled to assume,
                                         and the Subscriber shall be deemed to have represented and warranted to the Issuer, that
                                         the Subscriber accepts and agrees to all of the terms and conditions of the pages of
                                         this Subscription Agreement that are not delivered, without any alteration.

 

		(j)	The
                                         Parties hereto confirm their express wish that this Subscription Agreement and all documents
                                         and agreements directly or indirectly relating hereto be drawn up in the English language.
                                         Les Parties reconnaissent leur volonté expresse que la présente convention
                                         de souscription ainsi que tous les documents et contrats s'y rattachant directement
                                         ou indirectement soient rédigés en anglais.

 

     15

     

    

 

SCHEDULE
A

 

REGULATION
S CERTIFICATE

 

THE
SECURITIES TO WHICH THE SUBSCRIPTION AGREEMENT RELATES AND THE SECURITIES ISSUABLE UPON CONVERSION OR EXERCISE THEREOF HAVE NOT
BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”), OR ANY
APPLICABLE STATE SECURITIES LAWS IN THE UNITED STATES AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES (AS SUCH
TERM IS DEFINED IN REGULATION S UNDER THE 1933 ACT) OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, A U.S. PERSON (AS SUCH TERM IS DEFINED
IN REGULATION S OF THE 1933 ACT), EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE 1933 ACT OR PURSUANT TO AN
AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, SUCH REGISTRATION REQUIREMENTS OF THE 1933 ACT, AND IN ACCORDANCE
WITH ANY APPLICABLE STATE SECURITIES LAWS. HEDGING TRANSACTIONS INVOLVING THE SECURITIES ARE PROHIBITED EXCEPT IN COMPLIANCE WITH
THE 1933 ACT. THE SUBSCRIPTION AGREEMENT DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE
SECURITIES OFFERED THEREBY WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS EXCEPT IN THE LIMITED
CIRCUMSTANCES PROVIDED HEREIN PURSUANT TO TRANSACTIONS EXEMPT FROM REGISTRATION UNDER THE 1933 ACT AND ANY APPLICABLE STATE SECURITIES
LAWS.

 

In
connection with the undersigned’s (the “Subscriber”) subscription for the Convertible Note and the Warrants
of the Issuer (collectively with the Note Shares and the Warrant Shares, the “Securities”) by executing this
Regulation S Certificate, the Subscriber represents, warrants and covenants to and with the Issuer as follows (capitalized terms
used herein and not otherwise defined shall have the meaning given in the Subscription Agreement to which this Regulation S Certificate
is attached):

 

		(a)	the
                                         Subscriber understands that the Securities have not been and will not be, prior to distribution,
                                         registered under the United States Securities Act of 1933, as amended (the “1933
                                         Act”), or the securities laws of any state of the United States and that the
                                         offer and sale of the Securities to it will be made in reliance upon an exclusion from
                                         the registration requirements of the 1933 Act under Regulation S thereunder (“Regulation
                                         S”);

 

		(b)	the
                                         Subscriber is purchasing the Securities for its own account for investment purposes only
                                         and not with a view to resale or distribution in violation of applicable securities laws
                                         and, in particular, it is not an underwriter, agent, dealer or “Distributor”
                                         as defined in Rule 902(d) of Regulation S or has any intention to distribute either directly
                                         or indirectly any of the Securities in the United States or to, or for the account or
                                         benefit of, a U.S. person (as defined in Regulation S, a “U.S. Person”)
                                         or person in the United States; provided, however, that this paragraph shall not restrict
                                         the Subscriber from selling or otherwise disposing of any of the Securities pursuant
                                         to registration thereof pursuant to the 1933 Act and any applicable state securities
                                         laws or under an exemption from such registration requirements;

 

		(c)	the
                                         Subscriber has such knowledge and experience in financial and business matters as to
                                         be capable of evaluating the merits and risks of its investment in the Securities and
                                         is able, without impairing its financial condition, to hold such Securities for an indefinite
                                         period of time and to bear the economic risks of, and withstand a complete loss of, such
                                         investment;

 

		(d)	the
                                         Subscriber is not a U.S. Person;

 

		(e)	(A)
                                         the Subscriber is not resident in the United States and is not purchasing the Securities
                                         for the account or benefit of a U.S. Person or person in the United States, (B) the Securities
                                         were not offered to it in the United States and (C) at the time its buy order was made
                                         and the Subscription Agreement was executed, it (or its authorized signatory) were outside
                                         the United States;

 

		(f)	the
                                         current structure of this transaction and all transactions and activities contemplated
                                         hereunder is not a scheme to avoid the registration requirements of the 1933 Act;

 

    A-1

     

    

 

		(g)	the
                                         Subscriber did not receive the offer to purchase the Securities as a result of, nor will
                                         it engage in, any directed selling efforts (as defined in Regulation S);

 

		(h)	the
                                         Subscriber agrees not to engage in hedging transactions in the Securities except in compliance
                                         with the 1933 Act;

 

		(i)	the
                                         Subscriber agrees that prior to the expiration of the one-year distribution compliance
                                         period set forth in Rule 903(b)(3) of Regulation S under the 1933 Act with regard to
                                         the Securities, it will not offer, sell or transfer, directly or indirectly, any of the
                                         Securities except in accordance with the provisions of Regulation S, pursuant to registration
                                         under the 1933 Act or pursuant to an available exemption from registration under the
                                         1933 Act;

 

		(j)	the
                                         Subscriber understands and acknowledges that the Securities are “restricted securities”
                                         within the meaning of Rule 144 under the 1933 Act, and that if in the future it decides
                                         to offer, resell, pledge or otherwise transfer any of such securities, such securities
                                         may be offered, resold, pledged or otherwise transferred, directly or indirectly, only
                                         (a) to the Issuer; (b) pursuant to an effective registration statement under the 1933
                                         Act; (c) in accordance with Rule 144 under the 1933 Act, if available, and, in each case,
                                         in compliance with any applicable securities laws of any state of the United States;
                                         or (d) pursuant to another exemption from the registration requirements under the 1933
                                         Act and any applicable securities laws of any state of the United States, after providing
                                         an opinion of counsel, of recognized standing, in form and substance reasonably satisfactory
                                         to the Issuer, to the effect that the proposed transfer may be effected without registration
                                         under the 1933 Act, a certificate, in form and substance reasonably satisfactory to the
                                         Issuer, to such effect and/or other evidence of exemption reasonably satisfactory to
                                         the Issuer to such effect;

 

		(k)	the
                                         Subscriber acknowledges and agrees that the Issuer is hereby bound by this Agreement
                                         and its agreements with its transfer agent to refuse to register any transfer of the
                                         Securities not made in accordance with Regulation S, pursuant to registration under the
                                         1933 Act or pursuant to an available exemption from registration under the 1933 Act and
                                         in compliance with any applicable local laws and regulations; the Subscriber consents
                                         to the Issuer making a notation on its records or giving instructions to any transfer
                                         agent of the Securities in order to implement the restrictions on transfer set forth
                                         and described herein;

 

		(l)	the
                                         Subscriber acknowledges that upon the issuance of the Securities, and until such time
                                         as the same is no longer required under the applicable requirements of the 1933 Act or
                                         applicable state securities laws and regulations, the certificates representing the Securities,
                                         and all securities issued in exchange therefor or in substitution thereof, will bear
                                         a legend in substantially the following form:

 

“UNLESS
PERMITTED UNDER SECURITIES LEGISLATION, THE HOLDER OF THIS SECURITY MUST NOT TRADE THE SECURITY BEFORE [four
months plus one day after the Closing Date].”

 

“THE
SECURITIES REPRESENTED HEREBY [for the Convertible
Note include: AND THE SECURITIES ISSUABLE UPON CONVERSION THEREOF] [for the Warrants
include: AND THE SECURITIES ISSUABLE UPON EXERCISE THEREOF] HAVE NOT BEEN AND WILL NOT
BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “U.S. SECURITIES ACT”), OR UNDER ANY
STATE SECURITIES LAWS. THE HOLDER HEREOF, BY PURCHASING THESE SECURITIES, AGREES FOR THE BENEFIT OF NIOCORP DEVELOPMENTS LTD.
(THE “COMPANY”) THAT THESE SECURITIES MAY BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED, DIRECTLY OR INDIRECTLY,
ONLY (A) TO THE COMPANY, (B) IF THE SECURITIES HAVE BEEN REGISTERED IN COMPLIANCE WITH THE REGISTRATION REQUIREMENTS UNDER THE
U.S. SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS, (C) IN COMPLIANCE WITH THE EXEMPTION FROM THE REGISTRATION
REQUIREMENTS UNDER THE U.S. SECURITIES ACT IN ACCORDANCE WITH RULE 144 THEREUNDER, IF APPLICABLE, AND IN ACCORDANCE WITH APPLICABLE
STATE SECURITIES LAWS, OR (D) IN A TRANSACTION THAT DOES NOT REQUIRE REGISTRATION UNDER THE U.S. SECURITIES ACT OR ANY APPLICABLE
STATE SECURITIES LAWS AND REGULATIONS GOVERNING THE OFFER AND SALE OF SECURITIES, AND, IN THE CASE OF ANY OFFER, SALE, PLEDGE
OR TRANSFER PURSUANT TO CLAUSE (C) OR (D), THE HOLDER HAS, PRIOR TO SUCH OFFER, SALE, PLEDGE OR TRANSFER, FURNISHED TO THE COMPANY
AN OPINION OF COUNSEL OF RECOGNIZED STANDING, CERTIFICATION AND/OR OTHER EVIDENCE
OF EXEMPTION, IN EACH CASE, REASONABLY SATISFACTORY TO THE COMPANY TO SUCH EFFECT. HEDGING TRANSACTIONS INVOLVING THE SECURITIES
ARE PROHIBITED EXCEPT IN COMPLIANCE WITH THE U.S. SECURITIES ACT. THESE SECURITIES MAY NOT CONSTITUTE “GOOD DELIVERY”
IN SETTLEMENT OF TRANSACTIONS ON CANADIAN STOCK EXCHANGES.”

 

    A-2

     

    

 

If
any of the Securities are being sold pursuant to clause (C) in the legend above, the legend may be removed by delivery to Computershare
Investor Services Inc. of an opinion of counsel of recognized standing in form and substance reasonably satisfactory to the Issuer,
a certificate in form and substance reasonably satisfactory to the Issuer and/or other evidence of exemption reasonably satisfactory
to the Issuer, in each case, to the effect that the legend is no longer required under applicable requirements of the 1933 Act;

 

		(m)	the
                                         Subscriber acknowledges that the Convertible Note and the Warrants may not be converted
                                         or exercised, as applicable, unless exemptions are available from the registration requirements
                                         of the 1933 Act and the securities laws of all applicable states of the United States,
                                         and the holder has furnished an opinion of counsel of recognized standing in form and
                                         substance reasonably satisfactory to the Issuer to such effect, a certificate in form
                                         and substance reasonably satisfactory to the Issuer to such effect and/or other evidence
                                         of exemption reasonably satisfactory to the Issuer to such effect; provided that a holder
                                         of the Convertible Note or the Warrants will not be required to deliver an opinion of
                                         counsel in connection with its due conversion of the Convertible Note or due exercise
                                         of the Warrants purchased pursuant to the Offering, for its own account or for the account
                                         of the original beneficial purchaser, if any, at a time when the holder and such original
                                         beneficial purchaser, if any, are outside the United States, are not U.S. Persons and
                                         are not exercising on behalf of U.S. Persons or persons in the United States and its
                                         representations and warranties contained in this Regulation S Certificate remain true
                                         and correct with respect to the conversion of the Convertible Note or the exercise of
                                         the Warrants and the holder represents to the Issuer as such.

 

		(n)	Upon
                                         the original issuance of the Convertible Note and until such time as is no longer required
                                         under applicable requirements of the 1933 Act or applicable state securities laws, all
                                         certificates representing the Convertible Note and all certificates issued in exchange
                                         therefor or in substitution thereof, shall bear a legend substantially in the following
                                         form:

 

    A-3

     

    

 

“THE
SECURITIES REPRESENTED HEREBY AND THE SECURITIES ISSUABLE UPON CONVERSION THEREOF HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES
ACT. THE SECURITIES REPRESENTED HEREBY MAY NOT BE CONVERTED UNLESS THE SECURITIES ISSUABLE UPON CONVERSION THEREOF HAVE BEEN REGISTERED
UNDER THE U.S. SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS OR EXEMPTIONS FROM SUCH REGISTRATION REQUIREMENTS ARE AVAILABLE.”

 

		(o)	Upon
                                         the original issuance of the Warrants and until such time as is no longer required under
                                         applicable requirements of the 1933 Act or applicable state securities laws, all certificates
                                         representing the Warrants and all certificates issued in exchange therefor or in substitution
                                         thereof, shall bear a legend substantially in the following form:

 

“THE
SECURITIES REPRESENTED HEREBY AND THE SECURITIES ISSUABLE UPON EXERCISE THEREOF HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES
ACT. THE SECURITIES REPRESENTED HEREBY MAY NOT BE EXERCISED UNLESS THE SECURITIES ISSUABLE UPON EXERCISE THEREOF HAVE BEEN REGISTERED
UNDER THE U.S. SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS OR EXEMPTIONS FROM SUCH REGISTRATION REQUIREMENTS ARE AVAILABLE.”

 

		(p)	the
                                         Subscriber acknowledges that the Issuer is not a “foreign issuer” as defined
                                         in Regulation S and therefore, pursuant to Rule 905 of Regulation S, the United States
                                         securities law legend set forth above may not be removed from certificates representing
                                         the Securities upon any resale made pursuant to Rule 903 or 904 of Regulation S; therefore
                                         the certificates representing the Securities which bear such legend may not constitute
                                         “good delivery” in settlement of transactions on stock exchanges; 

 

		(q)	the
                                         Subscriber understands that (i) the Issuer may be deemed to be an issuer that is, or
                                         that has been at any time previously, an issuer with no or nominal operations and no
                                         or nominal assets other than cash and cash equivalents (a “Shell Company”),
                                         (ii) if the Issuer is deemed to be, or to have been at any time previously, a Shell Company,
                                         Rule 144 under the 1933 Act may not be available for resales of the Securities, and (iii)
                                         except as set forth in the Subscription Agreement, the Issuer is not obligated to make
                                         Rule 144 under the 1933 Act available for resales of the Securities;

 

		(r)	the
                                         Subscriber has been independently advised as to the applicable hold period and restrictions
                                         with respect to trading imposed in respect of the Securities by securities legislation
                                         in the jurisdiction in which it resides, and confirms that no representation has been
                                         made respecting the applicable hold periods for such Securities and is aware of the risks
                                         and other characteristics of the Securities and of the fact that the Subscriber may not
                                         be able to resell any of the Securities except in accordance with applicable securities
                                         legislation and regulatory policy; and

 

		(s)	the
                                         Subscriber understands and acknowledges that it is making the representations and warranties
                                         and agreements contained herein with the intent that the they may be relied upon by the
                                         Issuer, in determining its eligibility or (if applicable) the eligibility of others on
                                         whose behalf it is contracting hereunder to purchase the Convertible Note and the Warrants.

 

    A-4

     

    

 

The
Subscriber undertakes to notify the Issuer immediately at the principal offices of the Issuer of any change in any representation,
warranty or other information relating to the Subscriber set forth herein which takes place prior to the Closing.

 

The
Issuer shall be entitled to rely on delivery of a facsimile or PDF copy of this Regulation S Certificate.

 

DATED
this 18th day of December, 2020.

 

	Nordmin
    Engineering Ltd.	 
	(Name
    of Subscriber - please print)	 
	 	 	 
	By:	Chairman 	 
	 	(Official
    Capacity or Title - please print)	 
	 	 	 
	/s/
                                         Chris Dougherty

	 
	Authorized
    Signature	 
	 	 
	Chris
                                         Dougherty

	 
	(Please
    print name of individual whose signature appears above.)	 

 

    A-5Exhibit
10.1

 

EXECUTIVE
EMPLOYMENT AGREEMENT

 

This
EXECUTIVE EMPLOYMENT AGREEMENT (this “Agreement”) is made as of this 17th day of December, 2020,
by and between Stereotaxis, Inc., a Delaware corporation (the “Company”), and David L. Fischel (“Employee”).

 

RECITAL

 

WHEREAS,
the parties desire to enter into this Agreement setting forth the terms and conditions for the employment relationship between
Employee and the Company in connection with Employee’s continuing role as Chief Executive Officer of the Company.

 

NOW,
THEREFORE, in consideration of the promises and mutual covenants and agreements herein contained and intending to be legally
bound hereby, the Company and Employee hereby agree as follows:

 

1.
Position; Base Salary. Employee shall serve as Chief Executive Officer (“CEO”), and shall report to
the Board of Directors of the Company (the “Board”). Employee shall be paid an annual base salary of $60,000
subject to increases as provided by the Company from time to time in writing, and all payments shall be subject to applicable
withholdings and deductions. Employee will also continue to be designated as the Chairman of the Board during the term of this
Agreement. This Agreement shall be effective, as of December 1, 2020 (the “Effective Date”), supersede and
replace that certain letter agreement dated as of February 3, 2017 (the “2017 Letter Agreement”) that appointed
Employee as the non-employee acting chief executive officer of the Company, and Employee shall be deemed an employee of the Company
commencing on the Effective Date.

 

2.
Company Benefits. While employed by the Company, Employee shall be entitled to receive such benefits of employment as the
Company may offer from time to time. Company-paid time off for vacation, sick leave, and other personal needs will be governed
by the Employee Handbook and Company policies as modified from time to time by the Company. The Company shall pay or reimburse
Employee for all reasonable expenses incurred or paid by Employee in performance of his services hereunder, including, but not
limited to, travel and lodging expenses associated with attendance at professional and industry events, upon presentation of expense
statements or vouchers and such other information as the Company may reasonably require. While employed by the Company, Employee
will be reimbursed for the reasonable travel expenses incurred by Employee when traveling to and from St. Louis, Missouri and
Los Angeles, provided that Employee will use his commercially reasonable efforts to negotiate commercially reasonable rates for
these services and will otherwise cooperate with the Company in connection with obtaining such services for his benefit.

 

3.
Compliance with Company Rules and Policies. Employee agrees that throughout the term of Employee’s employment, as
a condition of Employee’s employment, Employee shall (a) diligently, in good faith and to the best of Employee’s abilities
render such services as may be delegated to the Employee by the Company; and (b) follow and act in accordance with all of Company’s
rules, policies and procedures of Company, including, but not limited to this Agreement, the Company rules and policies, and the
Employee Handbook, any of which may be revised from time to time at the sole discretion of the Company, with or without prior
notice.

 

4.
At-Will Employment. The Company is an “at-will” employer. This means that the Company or the Employee may terminate
Employee’s employment at any time, for any reason or for no reason and/or with or without cause. Company makes no promise
that Employee’s employment will continue for a set period of time, nor is there any promise that it will be terminated only
under particular circumstances. No raise or bonus or discussion of possible or potential future benefits, if any, or changes to
Employee’s capacity, reporting, or compensation shall alter Employee’s status as an “at-will” employee
or create any implied or express contract or promise of continued employment. Only the Board shall have the authority to change
Employee’s status as an “at-will” employee.

 

    	 	1	 

     

    

 

5.
Inventions and Developments.

 

(a)
Any and all ideas, inventions, discoveries, patents, patent applications, continuation-in-part patent applications, divisional
patent applications, technology, copyrights, derivative works, trademarks, service marks, improvements, trade secrets and the
like, which are developed, conceived, created, discovered, learned, produced and/or otherwise generated by Employee, whether individually
or otherwise, during the term of Employee’s employment (or during the course of or as a result of Employee’s prior
non-employment relationship with the Company under the 2017 Letter Agreement) whether or not during working hours, that relate
to Stereotaxis Business or any work performed by Employee for Company (collectively, “Inventions and Developments”),
shall be the sole and exclusive property of Company, and Company shall own any and all right, title and interest to such Inventions
and Developments. Employee hereby assigns and agrees to assign to Company any and all right, title and interest in and to any
such Inventions and Developments whenever requested to do so by Company, at Company’s expense, and Employee agrees to execute
any and all applications, assignments or other instruments which Company deems desirable or necessary to protect such interests,
both during and after the term of Employee’s employment.

 

(b)
By way of clarification, Section 5(a) shall not apply to any invention for which no equipment, supplies, facilities or Confidential
and Trade Secret Information of Company was used and which was developed entirely on Employee’s own time, unless (i) the
invention relates to Stereotaxis Business or to Company’s actual or demonstrably-anticipated research or development or
(ii) the invention results from any work performed by Employee for Company.

 

6.
Confidential and Trade Secret Information. Employee agrees to keep secret and confidential, and not to use or disclose
to any third parties, except as directly required for Employee to perform his responsibilities for Company, any of Company’s
Confidential and Trade Secret Information. Excluded from the scope of these restrictions is Confidential and Trade Secret Information
that becomes generally available to the public in any manner other than by a breach of this Agreement by Employee.

 

“Confidential
and Trade Secret Information” means any information pertaining to the Stereotaxis Business and/or other information
of the Company acquired by Employee during the course of or as a result of Employee’s engagement as CEO of the Company (or
during the course of or as a result of Employee’s prior non-employment relationship with the Company under the 2017 Letter
Agreement), which is not publicly known, such as but not limited to, trade secrets, know-how, processes, designs, products, documentation,
data, research and development plans and activities, standard operating procedures and validation records, drawings, tools, techniques,
software and computer programs and derivative works, inventions (whether patentable or not), improvements, copyrightable material,
business and marketing plans, projections, sales data and reports, confidential evaluations, the confidential use, nonuse or compilation
by the Company of technical or business information in the public domain, customers and prospects, customer requirements, costs,
profitability, sales and marketing strategies, pricing policies, operational methods, strategic plans, training materials, internal
financial information, operating and financial data and projections, distribution or sales methods, prices charged by or to Company,
inventory lists, sources of supplies, supply lists, lists of current or past employees and information concerning relationships
between Company and its employees, collaborators, or customers.

 

    	 	2	 

     

    

 

“Stereotaxis
Business” means the development, manufacture, and sale of equipment, software, devices, and methods in the field of
remote, computer-controlled or computer-aided navigation and delivery of interventional medical devices, with or without the use
of magnetic devices or systems.

 

7.
Company Materials. All notes, records, correspondence, data, hardware, software, documents or the like obtained by or provided
to the Company regarding Stereotaxis Business, or otherwise made, produced, or compiled during the course or as a result of Employee’s
employment as CEO of the Company (or during the course of or as a result of Employee’s prior non-employment relationship
with the Company under the 2017 Letter Agreement) which contain Confidential and Trade Secret Information, regardless of the type
of medium in which such is preserved, (“Company Materials”), are the sole and exclusive property of the Company,
and shall be surrendered to the Company on request or upon Employee’s termination for any reason. During the term of Employee’s
employment, Employee will not copy, reproduce or otherwise duplicate, record, abstract, summarize or otherwise use, any Company
Materials except as expressly permitted or required for the proper performance of Employee’s duties on behalf of the Company
or as a director of the Company.

 

8.
Attention to Duties; Conflict of Interest.

 

(a)
Employee represents that the execution and delivery of the Agreement and Employee’s employment with Company do not violate
any previous employment agreement or other contractual obligation of Employee, and there are no outstanding commitments or agreements
inconsistent with any of the terms of this Agreement or the services to be rendered to Company.

 

(b)
While employed by the Company, Employee shall devote a substantial portion of Employee’s business time, energy and abilities
to the business and interests of the Company and shall not, without the Company’s prior written consent, obtain any direct
or indirect interests in or relationships with any organization that might affect the objectivity and independence of the Employee’s
judgment or conduct in carrying out duties and responsibilities to the Company under this Agreement or that would interfere with
the performance of Employee’s duties under this Agreement. However, nothing herein shall preclude Employee from pursuing
Employee’s personal, financial and legal affairs, or, (i) serving on any corporate or governmental board of directors, (ii)
serving on the board of, or working for, any charitable, not-for-profit or community organization, or (iii) pursuing any other
activity; provided that Employee shall not engage in any other business, profession, occupation or other activity, for compensation
or otherwise, which would violate the provisions of this Agreement or would otherwise conflict or interfere with the performance
of Employee’s duties and responsibilities hereunder, either directly or indirectly.

 

(c)
Notwithstanding the foregoing or anything to the contrary herein, it is understood, acknowledged and agreed that, while serving
as CEO, Employee intends to, and shall be permitted to, continue to serve as an officer or director of DAFNA Capital Management,
LLC (“DAFNA”) on substantially the same terms as he has in the previous four-year period during the term of
the 2017 Letter Agreement, or otherwise as the Company and the Employee may mutually agree upon, and that any such activities
consistent with prior activities or as otherwise agreed on shall not be deemed to materially interfere with the Participant’s
performance of his duties as CEO for purposes of this Agreement.

 

(d)
If in the course of Employee’s employment, Employee becomes aware of any obligations or commitments under Section 8(a) or
any real or apparent conflicts of commitment or conflicts of interest, Employee shall immediately disclose them to Board.

 

    	 	3	 

     

    

 

9.
Non-Competition, Non-solicitation. Employee agrees that during the Employee’s employment hereunder plus one year
following the date of separation from service for any reason (the “Restricted Period”), and regardless of how
Employee’s termination occurs and regardless of whether it is with or without cause, Employee shall not, directly or indirectly
(whether individually or as owner, partner, consultant, employee or otherwise):

 

(a)
engage in, enter the employment of, or act as an agent, advisor or consultant for, any person or entity that then is in competition
with the Company with respect to Stereotaxis Business.

 

(b)
solicit, divert, or take away, or attempt to solicit, divert or take away from the Company the business of any customers for the
purpose of selling or providing to such customer any product or service which is included in the Stereotaxis Business as defined
herein;

 

(c)
knowingly to cause or attempt to cause any customer, vendor, or other third party collaborating with the Company to terminate
or reduce its existing relationship with the Company; or

 

(d)
knowingly solicit, induce, or hire, or attempt to solicit, induce, or hire, any employee, consultant, or distributor of the Company
to leave the employ of the Company and/or to work for any competitor of the Company.

 

10.
Notification; Non-disparagement. Employee shall notify any prospective employer of the existence and terms of this Agreement,
prior to acceptance of employment outside of the Company. Company may inform any person or entity subsequently employing, or evidencing
an intention to employ Employee of the nature of the information Company asserts to be Confidential and Trade Secret Information,
and may inform that person or entity of the existence of this Agreement, the terms hereof, and provide to that person or entity
a copy of these terms and conditions. Neither party shall in any way disparage the other, including current or former officers,
directors and employees of the Company, and neither party shall make or solicit any comments, statements or the like to the media
or to others, including their agents or representatives, that may be considered to be derogatory or detrimental to the good name
or business reputation of the other party.

 

11.
Acknowledgments Regarding Restrictions. Employee acknowledges, understands, and agrees that:

 

(a)
The provisions relating to confidentiality, conflicts of interest, non-competition, and their post-employment continuation are
material consideration for the compensation and other benefits of Employee’s employment by Company, and without Employee’s
agreement to these provisions and restrictions, Employee would not be employed by the Company.

 

(b)
Employee agrees that the covenants relating to non-competition, non-solicitation, and disparagement in this Agreement are appropriate
and fair and necessary to avoid conflicts of interest and commitment and to protect the Company’s legitimate interests in
its Confidential and Trade Secret Information, goodwill, and relationships.

 

(c)
The restrictions contained herein are not limited geographically in view of Company’s worldwide operations and the nature
of the Confidential and Trade Secret Information, customers and/or other business relationships to which Employee will have access.
These restrictions may preclude, for a time, Employee’s employment with competitors of Company. Company agrees, however,
that if it is commercially reasonable, after the Employee’s employment and within the Restricted Period it may provide written
permission for Employee to provide services to or be employed by firms that are engaged in Stereotaxis Business. Such permission
shall not be deemed to waive or diminish the prohibitions on disclosure or use of Confidential and Trade Secret Information or
the covenants of non-competition in this Agreement.

 

    	 	4	 

     

    

 

(d)
In the event of a breach or threatened breach of any of Employee’s duties and obligations under Sections 6 to 10, Company
shall be entitled, in addition to any other legal or equitable remedies (including any right to damages), to temporary, preliminary
and permanent injunctive relief restraining such breach or threatened breach. Employee expressly acknowledges that the harm that
might result to Company’s business as a result of any noncompliance by Employee with any of the provisions of these Sections
would be largely irreparable, and specifically agrees that if there is a question as to the enforceability of any of the provisions
of these Sections, Employee will not engage in conduct alleged to be inconsistent with or contrary to such Sections before the
question has been resolved by a final judgment of an arbitrator or court of competent jurisdiction.

 

(e)
To ensure Employee’s understanding of and compliance with the obligations under this Agreement, Employee agrees to engage
in an exit interview with the Company at the Company’s expense prior to Employee’s last day of employment, at a time
and place or by telephone, as designated by the Company, and that Employee may be required to confirm that Employee will comply
with Employee’s post termination obligations.

 

12.
Non-Waiver of Rights. Company’s failure at any time to enforce or require performance by Employee of any of the provisions
of this Agreement shall in no way be construed to be a waiver of such provisions or to affect either the validity of this Agreement,
or any part hereof, or the right of Company thereafter to enforce each and every provision in accordance with the terms of this
Agreement.

 

13.
Binding Arbitration.

 

(a)
Any dispute, claim or controversy with respect to Employee’s employment or its termination (whether the termination of employment
is voluntary or involuntary) shall be settled exclusively (except as set out in Section 11(e) above) by arbitration in accordance
with the rules of the American Arbitration Association (“AAA”). Either party may request arbitration in writing
after good faith efforts to resolve the matter internally, and the parties shall select an arbitrator under the AAA rules. Employee
and Stereotaxis each waive their constitutional rights to have such matters determined by a jury, explicitly and definitely prefer
arbitration to recourse to the courts, and have prescribed arbitration as their sole and exclusive method of binding dispute resolution
because, among other reasons, it is quicker, less expensive, and less formal than litigation in court.

 

(b)
Except as set out in Section 15 below, the arbitrator shall not have the authority to modify, add to or eliminate any provision
of this Agreement. The arbitration shall be held in St. Louis, Missouri. The award of the arbitrator shall be final and binding
on the parties. Judgment upon the arbitrator’s award may be entered in any court, state or federal, having jurisdiction
over the parties. If a written request for arbitration is not made within one (1) year of the date of the termination of employment
or, in the case of disputes not resolved internally, the date of the final decision reached by the Human Resources Department,
all remedies regarding such dispute, claim or controversy shall be waived.

 

(c)
In the event of any litigation or arbitration or other proceeding by which one party seeks to enforce its rights or seeks a declaration
of any rights or obligations under this Agreement, a party that is finally determined to have breached this Agreement or the party
against which injunctive relief is awarded shall pay the other party its reasonable attorney fees, costs, and expenses incurred.

 

14
Governing Law. This Agreement will be governed by the laws of the State of Delaware, without giving effect to the conflict
of law principles thereof.

 

    	 	5	 

     

    

 

15.
Severability. If any provision(s) of this Agreement are or become invalid, are ruled illegal or are deemed unenforceable
by any tribunal of competent jurisdiction, it shall be modified and enforced to the maximum extent permissible under applicable
law. It is the intention of the Parties that the remainder of this Agreement shall not be affected, provided that a Party’s
rights under this Agreement are not materially affected, in which case the Parties covenant and agree to revise any such provision
or the Agreement in good faith in order to provide a term, covenant, condition or application of this Agreement that most closely
complies with the intent of the Parties under the Agreement as originally executed.

 

16.
Assignment. The Company may assign this Agreement and Employee’s employment to any entity to which the operations
it currently manages are transferred, whether through reorganization, merger, sale or any other transfer. As a contract for personal
services, neither this Agreement nor any rights hereunder shall be assigned by Employee.

 

17.
Construction. The Parties to this Agreement represent and acknowledge that in executing this Agreement they do not rely
and have not relied upon any representation or statement made by the other party or the other party’s agents, attorneys
or representatives regarding the subject matter, basis, or effect of this Agreement or otherwise, other than those specifically
stated in this written Agreement. This Agreement shall be interpreted in accordance with the plain meaning of its terms and not
strictly for or against any party. This Agreement shall be construed as if each party was its author and each party hereby adopts
the language of this Agreement as if it were his, her or its own. Section headings are provided in this Agreement for convenience
only and shall not be deemed to substantively affect the content of such sections. In addition, Employee acknowledges and agrees
that Employee’s post-employment obligations herein are reasonable and should be fully enforceable regardless of why or how
the employment ends.

 

18.
Entire Agreement. This Agreement, including any Exhibits attached hereto, sets forth all the covenants, promises, agreements,
representations, conditions and understandings between the Parties hereto with respect to the subject matter hereof and supersedes
and terminates all prior agreements and understandings between the Parties, provided that the Company and Employee contemplate
entering into a separate Performance Share Unit Award Agreement on or about the date hereof, which agreement (i) shall not affect
the terms and conditions of this Agreement and (ii) shall be subject to approval of the Board, and, to the extent required by
applicable law or rules of the NYSE American. There are no covenants, promises, agreements, representations, conditions or understandings,
either oral or written, between the Parties with respect to the subject matter hereof other than as set forth herein and therein.
No amendment, change or addition to this Agreement shall be binding upon the Parties unless reduced to writing and signed by the
Employee and an authorized representative of the Company. This Agreement cannot be changed orally or by any conduct of either
Employee or the Company or any course of dealings between Employee, or another person and the Company.

 

[Signatures
appear on the following page]

 

    	 	6	 

     

    

 

Employee
and the Company have executed this Agreement and agree to enter into and be bound by the provisions hereof as of the date first
set forth above.

 

BY
SIGNING THIS AGREEMENT, EMPLOYEE IS HEREBY CERTIFYING THAT EMPLOYEE (A) HAS RECEIVED A COPY OF THIS AGREEMENT FOR REVIEW AND STUDY
BEFORE EXECUTING IT; (B) HAS READ THIS AGREEMENT CAREFULLY BEFORE SIGNING IT; (C) HAS HAD SUFFICIENT OPPORTUNITY BEFORE SIGNING
THE AGREEMENT TO ASK ANY QUESTIONS EMPLOYEE HAS ABOUT THE AGREEMENT AND HAS RECEIVED SATISFACTORY ANSWERS TO ALL SUCH QUESTIONS
AND TO CONFER WITH COUNSEL; AND (D) UNDERSTANDS EMPLOYEE’S RIGHTS AND OBLIGATIONS UNDER THE AGREEMENT.

 

THIS
CONTRACT CONTAINS A BINDING ARBITRATION PROVISION.

 

	 	STEREOTAXIS,
    INC.
	 	 	 
	 	By:
    	/s/
    David W. Benfer
	 	Name:
    	David
    W. Benfer
	 	Title:
    	Lead
    Independent Director of the Board of Directors

 

	 	EMPLOYEE:
	 	 
	 	/s/
    David L. Fischel
	 	David
    L. Fischel

 

    	 	7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00318-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00318-of-00352.parquet"}]]