Document:

Exhibit
4.7

 

THIS
WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR THE SECURITIES LAWS OF ANY STATE AND, EXCEPT AS SET FORTH IN SECTIONS 4.4 AND 4.5 BELOW, MAY NOT BE OFFERED,
SOLD, PLEDGED OR OTHERWISE TRANSFERRED UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND LAWS OR, IN THE OPINION OF LEGAL COUNSEL
IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER, SUCH OFFER, SALE, PLEDGE OR OTHER TRANSFER IS EXEMPT FROM SUCH REGISTRATION.

 

WARRANT
TO PURCHASE STOCK

 

Number
of Shares:

Issue
Date: June 16, 2020

Expiration
Date: June 16, 2022

 

THIS
WARRANT CERTIFIES THAT, for good and valuable consideration, [Name] (together with any successor or permitted assignee or transferee
of this Warrant, “Holder”) is entitled to purchase the above-stated number of fully paid and non-assessable
shares (the “Shares”) of the common stock, $0.001 par value per share (“Common Stock”
or the “Class”) of MTBC, Inc., a Delaware corporation (the “Company”) at a
purchase price per Share equal to the Warrant Price (as defined below) all as set forth above and as adjusted pursuant to Section
2 of this Warrant, subject to the provisions and upon the terms and conditions set forth in this Warrant.

 

This
Warrant is issued pursuant to a Stock Purchase Agreement, dated as of June 16, 2020 (the “Stock Purchase Agreement”).
Capitalized terms used herein and not otherwise defined shall have the respective meanings set forth in the Stock Purchase Agreement.

 

A.
Warrant Price. The purchase price per Share hereunder (the “Warrant Price”) shall be $7.50 per
share, subject to adjustment hereunder.

 

SECTION
1. EXERCISE.

 

1.1
Method of Exercise. Subject to Section 4.1 of this Warrant, Holder may at any time and from time to time exercise this
Warrant, in whole or in part, by delivering to the Company the original of this Warrant together with a duly executed Notice of
Exercise in substantially the form attached hereto as Appendix 1 and a wire transfer of same-day funds (to an account designated
by the Company), or other form of payment acceptable to the Company for the aggregate Warrant Price for the Shares being purchased.

 

1.2
Delivery of Warrant Shares Upon Exercise. Within a reasonable time after Holder exercises this Warrant in the manner set
forth in Section 1.1 above, the Company shall cause the Shares purchased hereunder to be transmitted by the Company’s transfer
agent to the Holder by crediting the account of the Holder with The Depository Trust Company through its Deposit or Withdrawal
at Custodian system (“DWAC”) if the Company is then a participant in such system and either (i) there
is an effective registration statement permitting the issuance of the Shares to or resale of the Shares by Holder, or (ii) the
Shares are eligible for immediate resale under Rule 144 of the Securities Act, as such Rule may be amended from time to time (“Rule
144”), without limitation on the amount of securities sold under Rule 144(e), and otherwise by physical delivery
of a certificate, registered in the Company’s share register in the name of the Holder or its designee, for the number of
Shares to which the Holder is entitled pursuant to such exercise to the address specified by the Holder in the Notice of Exercise,
and if this Warrant has not been fully exercised and has not expired, a new warrant of like tenor representing the Shares not
so acquired shall be delivered to the Holder.

 

    	 

     

    

 

1.3
Replacement of Warrant. On receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or
mutilation of this Warrant and, in the case of loss, theft or destruction, on delivery of an indemnity agreement reasonably satisfactory
in form, substance and amount to the Company or, in the case of mutilation, on surrender of this Warrant to the Company for cancellation,
the Company shall, within a reasonable time, execute and deliver to Holder, in lieu of this Warrant, a new warrant of like tenor
and amount.

 

1.4
Treatment of Warrant Upon Acquisition of Company.

 

(a)
Acquisition. For the purpose of this Warrant, “Acquisition” means any transaction or series of
related transactions involving: (i) the sale, lease, exclusive license, or other disposition of all or substantially all
of the assets of the Company; or (ii) any merger or consolidation of the Company into or with another person or entity (other
than a merger or consolidation effected exclusively to change the Company’s domicile), or any other corporate reorganization,
in which the stockholders of the Company in their capacity as such immediately prior to such merger, consolidation or reorganization,
own less than a majority of the Company’s (or the surviving or successor entity’s) outstanding voting power immediately
after such merger, consolidation or reorganization.

 

(b)
Treatment of Warrant at Acquisition. In the event of an Acquisition in which the consideration to be received by the Company’s
stockholders consists solely of cash, solely of Marketable Securities or a combination of cash and Marketable Securities (a “Cash/Public
Acquisition”), and the fair market value of one Share would be greater than the Warrant Price in effect on such
date immediately prior to such Cash/Public Acquisition, and Holder has not exercised this Warrant pursuant to Section 1.1 above
as to all Shares, then Holder shall have the option to exercise this Warrant immediately prior to and contingent upon the consummation
of a Cash/Public Acquisition, and upon such exercise, Holder shall be deemed to have restated each of the representations and
warranties in Section 3 of the Warrant as of the date thereof. In the event of a Cash/Public Acquisition where the fair market
value of one Share would be less than the Warrant Price in effect immediately prior to such Cash/Public Acquisition, then this
Warrant will expire immediately prior to the consummation of such Cash/Public Acquisition for no consideration.

 

(c)
Upon the closing of any Acquisition other than a Cash/Public Acquisition, the acquiring, surviving or successor entity shall assume
the obligations of this Warrant, and this Warrant shall thereafter be exercisable for the same securities and/or other property
as would have been paid for the Shares issuable upon exercise of the unexercised portion of this Warrant as if such Shares were
outstanding on and as of the closing of such Acquisition, subject to further adjustment from time to time in accordance with the
provisions of this Warrant.

 

(d)
As used in this Warrant, “Marketable Securities” means securities meeting all of the following requirements:
(i) the issuer thereof is then subject to the reporting requirements of Section 13 or Section 15(d) of the Securities Exchange
Act of 1934, as amended (the “Exchange Act”), and is then current in its filing of all required reports
and other information under the Securities Act and the Exchange Act; (ii) the class and series of shares or other security of
the issuer that would be received by Holder in connection with the Acquisition were Holder to exercise this Warrant on or prior
to the closing thereof is then traded in a securities exchange or over-the-counter trading market, and (iii) following the closing
of such Acquisition, Holder would not be restricted from publicly re-selling all of the issuer’s shares and/or other securities
that would be received by Holder in such Acquisition were Holder to exercise this Warrant in full on or prior to the closing of
such Acquisition, except to the extent that any such restriction (x) arises solely under federal or state securities laws, rules
or regulations, and (y) does not extend beyond six (6) months from the closing of such Acquisition.

 

    	2

     

    

 

SECTION
2. ADJUSTMENTS TO THE SHARES AND WARRANT PRICE.

 

2.1
Stock Dividends, Splits, Etc. If the Company declares or pays a dividend or distribution on the outstanding shares of Common
Stock payable in additional shares of Common Stock or other securities or property (other than cash), then upon exercise of this
Warrant, for each Share acquired, Holder shall receive, without additional cost to Holder, the total number and kind of securities
and property which Holder would have received had Holder owned the Shares of record as of the date the dividend or distribution
occurred. If the Company subdivides the outstanding shares of Common Stock by reclassification or otherwise into a greater number
of shares, the number of Shares purchasable hereunder shall be proportionately increased and the Warrant Price shall be proportionately
decreased. If the outstanding shares of Common Stock are combined or consolidated, by reclassification or otherwise, into a lesser
number of shares, the Warrant Price shall be proportionately increased and the number of Shares shall be proportionately decreased.

 

2.2
Reclassification, Exchange, Combinations or Substitution. Upon any event whereby all of the outstanding shares of Common
Stock are reclassified, exchanged, combined, substituted, or replaced for, into, with or by Company securities of a different
class and/or series, then from and after the consummation of such event, this Warrant will be exercisable for the number, class
and series of Company securities that Holder would have received had the Shares been outstanding on and as of the consummation
of such event, and subject to further adjustment thereafter from time to time in accordance with the provisions of this Warrant.
The provisions of this Section 2.2 shall similarly apply to successive reclassifications, exchanges, combinations substitutions,
replacements or other similar events.

 

2.3
No Fractional Share. No fractional Share shall be issuable upon exercise of this Warrant and the number of Shares to be
issued shall be rounded down to the nearest whole Share. If a fractional Share interest arises upon any exercise of the Warrant,
the Company shall eliminate such fractional Share interest by paying Holder in cash the amount computed by multiplying the fractional
interest by (i) the fair market value of a full Share, less (ii) the then-effective Warrant Price.

 

2.4
Notice/Certificate as to Adjustments. Upon each adjustment of the Warrant Price, Common Stock and/or number of Shares,
the Company, at the Company’s expense, shall notify Holder in writing within a reasonable time setting forth the adjustments
to the Warrant Price, Common Stock and/or number of Shares and facts upon which such adjustment is based. The Company shall, upon
written request from Holder, furnish Holder with a certificate of its Chief Financial Officer, including computations of such
adjustment and the Warrant Price, Common Stock and number of Shares in effect upon the date of such adjustment.

 

SECTION
3. REPRESENTATIONS AND WARRANTIES; COVENANTS

 

3.1
Representations and Warranties of the Holder. The Holder represents and warrants to the Company as follows:

 

(a)
Purchase for Own Account. This Warrant and the Shares to be acquired upon exercise of this Warrant by Holder are being
acquired for investment for Holder’s account, not as a nominee or agent, and not with a view to the public resale or distribution
within the meaning of the Securities Act.

 

    	3

     

    

 

(b)
Disclosure of Information. Holder is aware of the Company’s business affairs and financial condition and has received
or has had full access to all the information it considers necessary or appropriate to make an informed investment decision with
respect to the acquisition of this Warrant and its underlying securities. Holder further has had an opportunity to ask questions
and receive answers from the Company regarding the terms and conditions of the offering of this Warrant and its underlying securities
and to obtain additional information (to the extent the Company possessed such information or could acquire it without unreasonable
effort or expense) necessary to verify any information furnished to Holder or to which Holder has access.

 

(c)
Investment Experience. Holder understands that the purchase of this Warrant and its underlying securities involves substantial
risk. Holder acknowledges that it can bear the economic and financial risk of such investment in this Warrant and its underlying
securities and has such knowledge and experience in financial or business matters that Holder is capable of evaluating the merits
and risks of its investment in this Warrant and its underlying securities and/or has a preexisting personal or business relationship
with the Company and certain of its officers, directors or controlling persons of a nature and duration that enables Holder to
be aware of the character, business acumen and financial circumstances of such persons.

 

(d)
Accredited Investor Status. Holder is an “accredited investor” within the meaning of Regulation D promulgated
under the Securities Act and has sufficient knowledge and experience in financial and business matters so as to be capable of
evaluating the merits and risks of this Warrant and the Shares issuable hereunder. Holder has had the opportunity to consult with
its counsel to determine whether Holder is an accredited investor.

 

(e)
Restricted Securities. Holder understands and acknowledges that this Warrant and the Shares to be issued upon exercise
hereof are “restricted securities” under the federal securities laws inasmuch as they are being acquired from the
Company in a transaction not involving a public offering and that, under such laws and applicable regulations, such securities
may be resold without registration under the Securities Act only in certain limited circumstances. In addition, Holder represents
that it is familiar with Rule 144, as presently in effect, and understands the resale limitations imposed thereby and by the Securities
Act.

 

3.2
Representations and Warranties of the Company. The Company represents and warrants to the Holder as follows:

 

(a)
All Shares which may be issued upon the exercise of this Warrant shall, upon issuance, be duly authorized, validly issued, fully
paid and non-assessable, and free of any liens and encumbrances except for restrictions on transfer provided for herein or under
applicable federal and state securities laws.

 

(b)
The Company covenants that it shall at all times cause to be reserved and kept available out of its authorized and unissued capital
stock such number of shares of the Class and other securities as will be sufficient to permit the exercise in full of this Warrant.

 

    	4

     

    

 

(c)
The Company has never been, nor will it at the Closing be, a “United States real property holding corporation” within
the meaning of Code Section 897(c)(2) during the applicable period specified in Section 897(c)(1)(A)(ii) of the US Internal Revenue
Code of 1986, as amended.

 

3.3
Covenants of the Company.

 

(a)
Upon reasonable request, the Company agrees, to the extent it is able to do so, to (i) provide a statement, pursuant to Treasury
Regulation section 1.897(g)(1)(ii), that none of Holder’s securities in the Company are a U.S. real property interest (as
defined for purposes of such regulation) and (ii) provide the US Internal Revenue Service with a notice as prescribed in Treasury
Regulation section 1.897-2(h)(2).

 

(b)
Notice of Certain Events. If the Company proposes at any time to:

 

	 	i.	 	declare
    any dividend or distribution upon the outstanding shares of the Class, whether in cash, property, stock, or other securities
    and whether or not a regular cash dividend;
	 	ii.	 	offer
    for subscription or sale pro rata to the holders of the outstanding shares of the Class any additional shares of any class
    or series of the Company’s stock (other than pursuant to contractual pre-emptive rights);
	 	iii.	 	effect
    any reclassification, exchange, combination, substitution, reorganization or recapitalization of the outstanding shares of
    the Class; or
	 	iv.	 	effect
    an Acquisition or to liquidate, dissolve or wind up; 

 

then,
in connection with each such event, the Company shall give Holder notice thereof at the same time and in the same manner as given
to holders of the outstanding shares of the Class.

 

SECTION
4. MISCELLANEOUS.

 

4.1
Term. Subject to the provisions of Section 1.4 above, this Warrant is exercisable in whole or in part at any time and from
time to time on or before 3:00 PM, Eastern Standard Time, on the Expiration Date and shall be void thereafter.

 

4.2
No Rights as Stockholder Until Exercise. This Warrant does not entitle the Holder to any voting rights, dividends or other
rights as a stockholder of the Company prior to the exercise hereof, except as expressly set forth in this Warrant.

 

4.3
Legends. Each certificate evidencing Shares shall be imprinted with a legend in substantially the following form:

 

THE
SHARES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR THE SECURITIES LAWS OF ANY STATE AND, EXCEPT AS SET FORTH IN THAT CERTAIN WARRANT TO PURCHASE STOCK ISSUED
BY THE ISSUER TO [NAME] DATED JUNE 16, 2020, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED UNLESS AND UNTIL REGISTERED
UNDER SAID ACT AND LAWS OR, IN THE OPINION OF LEGAL COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER, SUCH OFFER, SALE,
PLEDGE OR OTHER TRANSFER IS EXEMPT FROM SUCH REGISTRATION.

 

    	5

     

    

 

4.4
Compliance with Securities Laws on Transfer. This Warrant and the Shares issued upon exercise of this Warrant may not be
transferred or assigned in whole or in part except in compliance with applicable federal and state securities laws by the transferor
and the transferee (including, without limitation, the delivery of investment representation letters and legal opinions reasonably
satisfactory to the Company, as reasonably requested by the Company).

 

4.5
Transfer Procedure. For the avoidance of doubt, Holder shall have the right at any time to assign all and/or any portion
of such Warrant to any person(s) (subject to the procedure in this Section 4.5). Subject to the provisions of Section 4.4 and
upon providing the Company with written notice, Holder and any subsequent Holder may transfer all or part of this Warrant or the
Shares issued upon exercise of this Warrant to any transferee, provided, however, in connection with any such transfer, Holder
and any subsequent Holder will give the Company notice of the portion of the Warrant and/or Shares being transferred with the
name, address and taxpayer identification number of the transferee and Holder will surrender this Warrant to the Company for reissuance
to the transferee(s) (and Holder if applicable); and provided further, that any subsequent transferee shall agree in writing with
the Company to be bound by all of the terms and conditions of this Warrant. All Warrants issued on transfers or exchanges shall
be dated the Issue Date of this Warrant and shall be identical with this Warrant except as to the number of Shares issuable pursuant
thereto.

 

4.6
Notices. All notices and other communications hereunder from the Company to the Holder, or vice versa, shall be deemed
delivered and effective (i) when given personally, (ii) on the third (3rd) Business Day after being mailed by first-class
registered or certified mail, postage prepaid, (iii) upon actual receipt if given by facsimile or electronic mail and such receipt
is confirmed in writing by the recipient, or (iv) on the first Business Day following delivery to a reliable overnight courier
service, courier fee prepaid, in any case at such address as may have been furnished to the Company or Holder, as the case may
be, in writing by the Company or such Holder from time to time in accordance with the provisions of this Section 4.6. All notices
to Holder shall be addressed as follows until the Company receives notice of a change of address in connection with a transfer
or otherwise:

 

[Name]

[Address]

[Telephone]

[Email]

 

Notice
to the Company shall be addressed as follows until Holder receives notice of a change in address:

 

MTBC,
Inc.

Attn:
General Counsel

7
Clyde Road

Somerset,
NJ 08873

Telephone:
(732) 873-5133

Email:
kgrant@mtbc.com and legal@mtbc.com

 

    	6

     

    

 

4.7
Waiver. This Warrant and any term hereof may be changed, waived, discharged or terminated (either generally or in a particular
instance and either retroactively or prospectively) only by an instrument in writing signed by the party against which enforcement
of such change, waiver, discharge or termination is sought.

 

4.8
Counterparts; Facsimile/Electronic Signatures. This Warrant may be executed in counterparts, all of which together shall
constitute one and the same agreement. Any signature page delivered electronically or by facsimile shall be binding to the same
extent as an original signature page with regards to any agreement subject to the terms hereof or any amendment thereto.

 

4.9
Governing Law. This Warrant shall be governed by and construed in accordance with the laws of the State of Delaware, without
giving effect to its principles regarding conflicts of law. The parties irrevocably agree that any action to enforce the provisions
of this Agreement or arising under or by reason of this Agreement shall be brought solely in the Superior Court of New Jersey,
Somerset County venue.

 

4.10
Headings. The headings in this Warrant are for purposes of reference only and shall not limit or otherwise affect the meaning
of any provision of this Warrant.

 

4.11
Business Days. “Business Day” is any day that is not a Saturday, Sunday or a day on which banks
in New York City are closed.

 

[Remainder
of page left blank intentionally]

[Signature
page follows]

 

    	7

     

    

 

IN
WITNESS WHEREOF, the parties have caused this Warrant to Purchase Stock to be executed, effective as of the Issue Date written
above.

 

	“COMPANY”	 
	 	 
	MTBC,
    INC.	 
	 	 	 
	By:	 	 
	Name:	Kimberly
    Grant	 
	Title:	General
    Counsel	 

 

	“HOLDER”	 
	 	 
	 	 
	[Name]	 

 

    	8

     

    

 

APPENDIX
1

 

NOTICE
OF EXERCISE

 

1.
The undersigned Holder hereby exercises its right to purchase ___________ shares of the Common Stock of __________________ (the
“Company”) in accordance with the attached Warrant To Purchase Stock, and tenders payment of the aggregate
Warrant Price for such shares by wire transfer of immediately available funds to the Company’s account.

 

2.
Please issue said Warrant Shares in the name specified below:

 

___________________________________________

Holder’s
Name

 

___________________________________________

 

___________________________________________

 

(Address)

 

[If
applicable] The Warrant Shares shall be delivered to the following DWAC Account Number:

 

_______________________________

 

_______________________________

 

_______________________________

 

3.
By its execution below and for the benefit of the Company, Holder hereby restates each of the representations and warranties in
Section 3.1 of the Warrant to Purchase Stock as of the date hereof.

 

	 	HOLDER:
	 	 	 
	 	 
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	(Date):Exhibit
10.1

 

Purchase
Agreement

 

between

 

BBHC,
Inc.

 

and

 

Taronis
Fuels, Inc.

 

dated
as of

 

August
19, 2020

 

    	 

    	 

    

 

PURCHASE
AGREEMENT

 

This
Purchase Agreement (this “Agreement”), dated as of August 19, 2020 (“Effective Date”),
is entered into between BBHC, Inc., a Delaware corporation, f/k/a Taronis Technologies, Inc. f/k/a MagneGas Applied Technology
Solutions, Inc. f/k/a MagneGas Corporation (“Seller”) and Taronis Fuels, Inc., a Delaware corporation (“Buyer”).
Seller and Buyer are sometimes each referred to herein as a “Party” and, collectively, as the “Parties”.

 

RECITALS

 

WHEREAS,
it is the intent of this Agreement is to effect the sale and transfer of all of the Intellectual Property (as defined herein)
from the Seller to the Buyer;

 

WHEREAS,
the whole Intellectual Property portfolio of the Seller is held partially in the name of the Seller, which is described herein
as the “Transferred Intellectual Property”, and partially in the Company (as defined herein),
which is described herein as the “Company Intellectual Property”, and therefore this Agreement
includes the sale of the Membership Interests (as defined herein) by Seller to convey to Buyer those Intellectual Property interests
held by the Company and the direct sale of the balance of the Intellectual Property held by the Seller to the Buyer;

 

WHEREAS,
Seller owns all of the issued and outstanding membership interests (the “Membership Interests”) in MagneGas
IP, LLC, a Delaware limited liability company (the “Company”), and the Company owns all of the Company Intellectual
Property;

 

WHEREAS,
the Company is solely a holding company for the Company Intellectual Property and, therefore, the Company has no business operations,
employees, liabilities, cash, or assets, other than the Company Intellectual Property;

 

WHEREAS,
Seller owns the Transferred Intellectual Property;

 

WHEREAS,
Seller wishes to sell to Buyer, and Buyer wishes to purchase from Seller, the Membership Interests, subject to the terms and conditions
as set forth herein;

 

WHEREAS,
Seller wishes to sell and assign to Buyer, and Buyer wishes to purchase and assume from Seller, the rights and obligations of
Seller to the Transferred Intellectual Property, subject to the terms and conditions set forth herein; and

 

WHEREAS,
effective as of the Closing (as defined herein), Parties desire to terminate that certain Amended and Restated License Agreement,
dated July 16, 2019, between Seller, Buyer, and the Company (the “IP License Agreement”).

 

NOW,
THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Parties hereto agree as follows:

 

    	 

    	 

    

 

ARTICLE
I

 

PURCHASE
AND SALE; CONSIDERATION; CLOSING

 

Section
1.01. Purchase and Sale. Subject to the terms and conditions set forth herein, at the Closing (as defined herein),
Seller shall (a) sell to Buyer, and Buyer shall purchase from Seller, all of Seller’s right, title and interest in and to
the Membership Interests, free and clear of any mortgage, pledge, lien, charge, security interest, claim or other encumbrance
(“Encumbrance”), for the consideration specified in Section 1.02, and (b) Seller shall sell, assign, transfer,
convey and deliver to Buyer, and Buyer shall purchase and assume from Seller, all of Seller’s right, title and interest
in and to the Transferred Intellectual Property, free and clear of any Encumbrances, for the consideration specified in Section
1.02. The purchase of the Membership Interests and Transferred Intellectual Property shall be referred to herein as the “Purchased
Interests”.

 

Section
1.02. Purchase Price, Payments and Contingent Payments. The purchase price for the Purchased Interests shall be $1,250,000
(the “Purchase Price”). The Buyer shall pay to the Seller the following:

 

(a)
$1,000,000 of the Purchase Price will be paid at Closing in the form of the Buyer’s restricted common stock, par value $0.000001
per share (“Stock Consideration”). The Stock Consideration will be valued as of the fair market value on August
19, 2020 as reported by OTCQB;

 

(b)
$250,000 of the Purchase Price will be credited to Buyer for assuming at Closing up to $250,000 of the Seller’s aged accounts
payable due to third party service providers (the “Assumed Accounts Payable”); and

 

(c)
in addition to the Purchase Price, for a period to last five (5) years from the Effective Date of this Agreement (“Payment
Period”), the Buyer will make ongoing Contingent Payments (as defined herein) equal to Seven Percent (7%) of all gross
cash receipts received by the Buyer which are derived from the purchased Company Intellectual Property and/or Transferred Intellectual
Property (“Contingent Payments”); provided however, that if for any reason Buyer assumes or pays any liabilities
or accounts payable of Seller after the Closing in excess of the Assumed Accounts Payable (the “Excess Payments”),
Buyer shall be entitled to deduct the Excess Payments from any Contingent Payments due to Seller during the Payment Period.

 

The
Parties intend that the Purchase Price and Contingent Payments over the Payment Period shall provide for total compensation to
Seller equal to the net present value of the Company Intellectual Property and Transferred Intellectual Property as of the Effective
Date, based upon independent third party valuations.

 

Section
1.03. Reports and Audits.

 

(a)
Sales Reports. Within thirty (30) calendar days after each fiscal quarter, Buyer will deliver to Seller a true and accurate
report, certified by an officer of Buyer, giving such particulars of the business conducted by Buyer and its affiliates (including
copies of reports provided by affiliates to Buyer) during such fiscal quarter as necessary for Seller to account for Buyer’s
Contingent Payments, hereunder, even if no payments are due. Receipt or acceptance by Seller of any report or of any sums paid
by Buyer, will not preclude Seller from questioning or auditing the completeness or accuracy of such statement or payment at any
time. Seller reserves the right to waive the obligation of Buyer to produce the contemplated report(s) in its sole discretion.
Buyer will include the following information in the report:

 

(i)
The period covered by the report;

 

    	 	 	 

     

    

 

(ii)
The name of any affiliates whose activities are also covered by the report;

 

(iii)
Identification of each type of good or service for which any Contingent Payments have become payable;

 

(iv)
Sales segregated on a product-by-product, and a country-by-country basis, or an affirmative statement that no sales were made;

 

(v)
Any changes in accounting methodologies used to account for and calculate the items included in the report since the previous
report.

 

(b)
Records. Buyer will keep, and will cause its affiliates to keep, complete and accurate records of their sales and other
information reasonably requested by Seller in sufficient detail to enable the payments made under this Agreement to be determined
and audited for a period of three (3) years after the Payment Period. Buyer will timely provide to Seller any tax information
and documents (such as form 1099) as required by law or reasonably requested by Seller from time to time.

 

(c)
Audit Rights. Buyer will make its (and its applicable affiliates’) internal control report, and all other documents,
reports and the books of account available to Seller with respect to the production and sales of products for inspection, copying
and audit by Seller, its agents and representatives, during normal business hours, upon not less than five (5) business days advance
notice, which will be made by Seller at its own expense, except as provided below. Buyer will make available qualified employees
and agents to promptly answer questions pertaining to such audit. If any amounts owed to Seller have been underpaid, then Buyer
will immediately pay Seller the amount of such underpayment. If an audit reveals that Buyer’s reporting and/or record keeping
are not in accordance with the requirements under this Agreement, or that there is an error in the payment of any Contingent Payments
with respect to the period being audited in excess of the lesser of ten thousand dollars ($10,000) or five percent (5%) of the
Contingent Payments, then without prejudice to any other amounts due to Seller or to any of its rights hereunder, all costs and
expenses incurred by Seller in connection with such inspection and audit will be borne and promptly paid by Buyer.

 

Section
1.04. Closing. The closing of the transactions contemplated by this Agreement (the “Closing”) shall
take place simultaneously with the execution of this Agreement on the date of this Agreement (the “Closing Date”)
by the remote exchange of documents and signatures through the Parties’ duly authorized representatives. At the Closing,
each Party shall deliver all documents, instruments, certificates, payments, and other items as may be required under this Agreement.

 

Section
1.05. Allocation of Purchase Price. For purposes of this Agreement, the Purchase Price shall be, and is accepted as,
the fair market value of the Membership Interests and the Transferred Intellectual Property (as of the Closing Date), as determined
by mutual agreement amongst the Parties.

 

    	 

    	 

    

 

Section
1.06. Seller’s Obligations at Closing. At the Closing, Seller shall deliver to Buyer (a) the items referenced
in Section 4.01 of this Agreement and (b) all other instruments and documents, in form and substance reasonably satisfactory to
Buyer, which are reasonably necessary to fulfill the obligations of Seller under, and give effect to the transactions contemplated
by, this Agreement which are required to be fulfilled on or prior to the Closing.

 

Section
1.07. Buyer’s Obligations at Closing. At the Closing, Buyer shall deliver to Seller (a) the items referenced
in Section 4.02 of this Agreement and (b) all other instruments and documents, in form and substance reasonably satisfactory to
Seller, which are reasonably necessary to fulfill the obligations of Buyer under, and give effect to the transactions contemplated
by, this Agreement which are required to be fulfilled on or prior to the Closing.

 

Section
1.08. Transfer Taxes. Seller shall pay, and shall reimburse Buyer for, any sales, use or transfer taxes, documentary
charges, recording fees or similar taxes, charges, fees or expenses, if any, that become due and payable as a result of the transactions
contemplated by this Agreement.

 

Section
1.09. Withholding Taxes. Buyer and the Company shall be entitled to deduct and withhold from the Purchase Price all
taxes that Buyer and the Company may be required to deduct and withhold under any provision of tax law. All such withheld amounts
shall be treated as delivered to Seller hereunder.

 

Section
1.10. Assumed Accounts Payable. At Closing, Buyer agrees to assume all liabilities and obligations in and to the Assumed
Accounts Payable.

 

Section
1.11. Third Party Consents. To the extent that Seller’s rights under any of the Company’s assets or the
Transferred Intellectual Property may not be assigned to Buyer without the consent of another third-party which has not been obtained
at or prior to Closing, this Agreement shall not constitute an agreement to assign the same if an attempted assignment would constitute
a breach thereof or be unlawful, and Seller, at its expense, shall use its reasonable best efforts to obtain any such required
consent(s) as promptly as possible. If any such consent shall not be obtained or if any attempted assignment would be ineffective
or would impair Buyer’s rights under the assets in question so that Buyer would not in effect acquire the benefit of all
such rights, Seller, to the maximum extent permitted by law and the asset, shall act after the Closing as Buyer’s agent
in order to obtain for it the benefits thereunder and shall cooperate, to the maximum extent permitted by law and the asset, with
Buyer in any other reasonable arrangement designed to provide such benefits to Buyer.

 

Section
1.12. IP License Agreement Termination. Effective as of the Closing, the Parties agree that the IP License Agreement
shall be terminated and have no further force or effect. The IP License Agreement shall be terminated automatically at the Closing
without any further action of the Parties.

 

    	 

    	 

    

 

ARTICLE
II

 

REPRESENTATIONS
AND WARRANTIES OF SELLER

 

Seller
represents and warrants to Buyer that the statements contained in this Article II are true and correct as of the date hereof.

 

Section
2.01. Organization and Authority of Seller; Enforceability. Seller is a corporation duly organized, validly existing
and in good standing under the laws of the state of Delaware. Seller has full corporate power and authority to enter into this
Agreement and the documents to be delivered hereunder, to carry out its obligations hereunder and to consummate the transactions
contemplated hereby. The execution, delivery and performance by Seller of this Agreement and the documents to be delivered hereunder
and the consummation of the transactions contemplated hereby have been duly authorized by all requisite corporate action on the
part of Seller. This Agreement and the documents to be delivered hereunder have been duly executed and delivered by Seller, and
(assuming due authorization, execution and delivery by Buyer) this Agreement and the documents to be delivered hereunder constitute
legal, valid and binding obligations of Seller, enforceable against Seller in accordance with their respective terms.

 

Section
2.02. Organization and Authority of Company. The Company is a limited liability company duly organized, validly existing
and in good standing under the laws of the state of Delaware and has full limited liability company power and authority to own,
operate or lease the properties and assets now owned, operated or leased by it.

 

Section
2.03. Capitalization.

 

(a)
Seller is the record owner of and has good and valid title to the Membership Interests, free and clear of all Encumbrances. The
Membership Interests constitute 100% of the total issued and outstanding membership interests in the Company. The Membership Interests
have been duly authorized and are validly issued, fully-paid and non-assessable. Upon consummation of the transactions contemplated
by this Agreement, Buyer shall own all of the Membership Interests, free and clear of all Encumbrances.

 

(b)
The Membership Interests were issued in compliance with applicable laws. The Membership Interests were not issued in violation
of the organizational documents of the Company or any other agreement, arrangement, or commitment to which Seller or the Company
is a party and are not subject to or in violation of any preemptive or similar rights of any person.

 

(c)
There are no outstanding or authorized options, warrants, convertible securities or other rights, agreements, arrangements or
commitments of any character relating to any membership interests in the Company or obligating Seller or the Company to issue
or sell any membership interests (including the Membership Interests), or any other interest, in the Company. Other than the organizational
documents of the Company, there are no voting trusts, proxies or other agreements or understandings in effect with respect to
the voting or transfer of any of the Membership Interests.

 

Section
2.04. No Subsidiaries. The Company does not own, or have any interest or shares or have an ownership interest in, any
other entity.

 

    	 

    	 

    

 

Section
2.05. No Conflicts; Consents. The execution, delivery and performance by Seller of this Agreement and the documents
to be delivered hereunder, and the consummation of the transactions contemplated hereby, do not and will not: (a) violate or conflict
with the organizational documents of Seller or the Company; (b) violate or conflict with any judgment, order, decree, statute,
law, ordinance, rule or regulation applicable to Seller or the Company; (c) conflict with, or result in (with or without notice
or lapse of time or both) any violation of, or default under, or give rise to a right of termination, acceleration or modification
of any obligation or loss of any benefit under any contract or other instrument to which Seller or the Company is a party; (d)
result in any violation, conflict with or constitute a default under the Company’s organizational documents or the organizational
documents of the Company; or (e) result in the creation or imposition of any Encumbrance on the Membership Interests or the Transferred
Intellectual property. No consent, approval, waiver or authorization is required to be obtained by Seller or the Company from
any person or entity (including any governmental authority) in connection with the execution, delivery and performance by Seller
of this Agreement and the consummation of the transactions contemplated hereby.

 

Section
2.06. Holding Company; No Undisclosed Liabilities. The Company is solely a holding company for the Company Intellectual
Property. The Company has no business operations, employees, cash, or assets, other than the Company Intellectual Property, and
is not qualified to do business or conducting business in any jurisdiction. The Company has no liabilities, obligations or commitments
of any nature whatsoever, asserted or unasserted, known or unknown, absolute or contingent, accrued or unaccrued, matured or unmatured,
or otherwise (“Liabilities”).

 

Section
2.07. Title to Assets; Condition and Sufficiency of Assets. 

 

(a)
The Company has good and valid title to, or a valid leasehold interest in, all personal property, the Company Intellectual Property
and any other assets owned by it. All such assets are free and clear of Encumbrances and are in good operating condition and repair,
adequate for the uses to which they are being put, and none of the assets are in need of maintenance or repairs except for ordinary
routine maintenance or repairs that are not material in nature or cost. The Company has no liabilities with respect to its assets.

 

(b)
Seller owns and has good, valid, and marketable title to the Transferred Intellectual Property, and the Transferred Intellectual
Property will be transferred by Seller to Buyer free and clear of any and all Encumbrances and/or any other burdens or claims
of third-parties of any type or nature. Seller has no Liabilities with respect to the Transferred Intellectual Property.

 

Section
2.08. Condition of Transferred Assets; Absence of Changes. All of the Company’s assets are in good condition
and repair (ordinary wear and tear excepted) and workable, usable and adequate for the uses to which they have been put by the
Company. In the past one hundred and twenty (120) days, there has not been any change, event, condition, or development that is,
or could reasonably be expected to be, individually or in the aggregate, materially adverse to the value of the Company’s
assets or the Transferred Intellectual Property.

 

    	 

    	 

    

 

Section
2.09. Intellectual Property.

 

(a)
Section 2.09(a) of the disclosure schedules contains a correct, current, and complete list of all (i) Company IP Registrations,
specifying as to each, as applicable: the title, mark, or design; the record owner and inventor(s), if any; the jurisdiction by
or in which it has been issued, registered, or filed; the patent, registration, or application serial number; the issue, registration,
or filing date; and the current status; (ii) all unregistered Trademarks included in the Company Intellectual Property; (iii)
all proprietary software of the Company; and (iv) to Seller’s knowledge, all other Company Intellectual Property used or
owned by the Company. All required filings and fees related to the Company IP Registrations have been timely filed with and paid
to the relevant governmental authorities and authorized registrars, and all Company IP Registrations are otherwise in good standing.

 

(b)
Section 2.09(b) of the disclosure schedules contains a correct, current, and complete list of all (i) Seller IP Registrations,
specifying as to each, as applicable: the title, mark, or design; the record owner and inventor(s), if any; the jurisdiction by
or in which it has been issued, registered, or filed; the patent, registration, or application serial number; the issue, registration,
or filing date; and the current status; (ii) all unregistered Trademarks included in the Transferred Intellectual Property; (iii)
all proprietary software of the Seller; and (iv) all other Transferred Intellectual Property used in Seller’s business as
currently conducted. All required filings and fees related to the Seller IP Registrations have been timely filed with and paid
to the relevant governmental authorities and authorized registrars, and all Seller IP Registrations are otherwise in good standing

 

(c)
The Company is the sole and exclusive legal and beneficial, and with respect to the Company IP Registrations, record, owner of
all right, title and interest in and to the Company Intellectual Property, and has the valid and enforceable right to use all
other Intellectual Property currently used by the Company, in each case, free and clear of Encumbrances. The Seller is the sole
and exclusive legal and beneficial, and with respect to the Seller IP Registrations, record, owner of all right, title and interest
in and to the Transferred Intellectual Property, and has the valid and enforceable right to use all other Intellectual Property
used or held for use in or necessary for the conduct of the Seller’s business as currently conducted, in each case, free
and clear of Encumbrances

 

(d)
Neither the execution, delivery or performance of this Agreement, nor the consummation of the transactions contemplated hereunder,
will result in the loss or impairment of or payment of any additional amounts with respect to, nor require the consent of any
other person in respect of, the Company’s right to own or use any Company Intellectual Property or Seller’s right
to own or use any Transferred Intellectual Property.

 

(d)
All of the Company Intellectual Property and Transferred Intellectual Property is valid and enforceable, and all Company IP Registrations
and Seller IP Registrations are subsisting and in full force and effect. The Company and Seller have taken all reasonable and
necessary steps to maintain and enforce the Company Intellectual Property and Transferred Intellectual Property, respectively,
and to preserve the confidentiality of all trade secrets included in the Company Intellectual Property and Transferred Intellectual
Property, including by requiring all persons having access thereto to execute binding, written non-disclosure agreements.

 

    	 

    	 

    

 

(e)
The conduct of the Seller’s business as currently and formerly conducted, the conduct and actions of the Company, and the
products, processes and services of the Company and Seller, have not infringed, misappropriated or otherwise violated, and will
not infringe, misappropriate or otherwise violate, the Intellectual Property or other rights of any person. No person has infringed,
misappropriated or otherwise violated any Company Intellectual Property or Transferred Intellectual Property.

 

(f)
There are no actions (including any opposition, cancellation, revocation, review or other proceeding) settled, pending or threatened
(including in the form of offers to obtain a license): (i) alleging any infringement, misappropriation or other violation by the
Company or Seller of the Intellectual Property of any person; (ii) challenging the validity, enforceability, registrability, patentability
or ownership of any Company Intellectual Property or Transferred Intellectual Property; or (iii) by the Company, Seller, or any
other person alleging any infringement, misappropriation or other violation by any person of the Company Intellectual Property
or Transferred Intellectual Property. Neither Seller nor the Company is aware of any facts or circumstances that could reasonably
be expected to give rise to any such action. Neither the Company nor Seller is subject to any outstanding or prospective governmental
order (including any motion or petition therefor) that does or could reasonably be expected to restrict or impair the use of any
Company Intellectual Property or Transferred Intellectual Property.

 

(g)
The following terms used in this Section 2.07 and elsewhere in this Agreement have the meanings specified in this Subsection (g):

 

“Company
Intellectual Property” means all Intellectual Property that is owned by the Company.

 

“Company
IP Registrations” means all Company Intellectual Property that is subject to any issuance, registration or application
by, to or with any governmental authority or authorized private registrar in any jurisdiction, including issued patents, registered
trademarks, domain names and copyrights, and pending applications for any of the foregoing.

 

    	 

    	 

    

 

“Intellectual
Property” means any and all rights in, arising out of, or associated with any of the following in any jurisdiction throughout
the world: (a) issued patents and patent applications (whether provisional or non-provisional), including divisionals, continuations,
continuations-in-part, substitutions, reissues, reexaminations, extensions, or restorations of any of the foregoing, and other
governmental authority-issued indicia of invention ownership (including certificates of invention, petty patents, and patent utility
models) (“Patents”); (b) trademarks, service marks, brands, certification marks, logos, trade dress, trade
names, and other similar indicia of source or origin, together with the goodwill connected with the use of and symbolized by,
and all registrations, applications for registration, and renewals of, any of the foregoing (“Trademarks”);
(c) copyrights and works of authorship, whether or not copyrightable, and all registrations, applications for registration, and
renewals of any of the foregoing (“Copyrights”); (d) internet domain names, whether or not Trademarks, all
associated web addresses, URLs, websites and web pages, and all content and data thereon or relating thereto, whether or not Copyrights;
(e) mask works, and all registrations, applications for registration, and renewals thereof; (f) industrial designs, and all Patents,
registrations, applications for registration, and renewals thereof; (g) trade secrets, know-how, inventions (whether or not patentable),
discoveries, improvements, technology, business and technical information, databases, data compilations and collections, tools,
methods, processes, techniques, and other confidential and proprietary information and all rights therein; (h) computer programs,
operating systems, applications, firmware, and other code, including all source code, object code, application programming interfaces,
data files, databases, protocols, specifications, and other documentation thereof; and (i) all other intellectual or industrial
property and proprietary rights.

 

“Seller
IP Registrations” means all Transferred Intellectual Property that is subject to any issuance, registration or application
by, to or with any governmental authority or authorized private registrar in any jurisdiction, including issued patents, registered
trademarks, domain names and copyrights, and pending applications for any of the foregoing.

 

“Transferred
Intellectual Property” means all Intellectual Property that is owned by the Seller.

 

Section
2.10. Contracts. All contracts to which the Company is a party (the “Contracts”) are valid and binding
on the Company in accordance with its terms and is in full force and effect. Neither the Company nor any party thereto is in breach
of or default under (or is alleged to be in breach of or default under) or has provided or received any notice of any intention
to terminate any Contract. No event or circumstance has occurred that would constitute an event of default under any Contract
or result in a complete termination thereof. There are no disputes pending or threatened under any Contract.

 

Section
2.11. Licenses and Permits. The Company has all licenses and permits required for the ownership and use of its assets
as presently constituted. Seller has all licenses and permits required for the ownership and use the Transferred Intellectual
Property, and if necessary, all such licenses and permits will be duly and validly transferred to Buyer at Closing.

 

Section
2.12. Legal Proceedings. There are no actions pending or (a) against or by the Company affecting any of its properties
or assets (or by or against Seller or any affiliate thereof and relating to the Company); or (b) against or by the Company, Seller
or any affiliate of Seller that challenges or seeks to prevent, enjoin or otherwise delay the transactions contemplated by this
Agreement. No event has occurred or circumstances exist that may give rise to, or serve as a basis for, any such action. There
are no outstanding governmental orders and no unsatisfied judgments, penalties or awards against or affecting the Company or any
of its properties or assets.

 

    	 	 	 

     

    

 

Section
2.13. Compliance With Laws; Permits. The Company has complied, and is now complying, with all laws applicable to it
or its properties or assets. All permits required for the Company to hold its assets have been obtained by it and are valid and
in full force and effect. All fees and charges with respect to such permits as of the date hereof have been paid in full. No event
has occurred that, with or without notice or lapse of time or both, would reasonably be expected to result in the revocation,
suspension, lapse, or limitation of any such permit.

 

Section
2.14. Limited Liability Company Agreement. Buyer has been previously provided a copy of the Limited Liability Company
Agreement of the Company, which agreement is in full force and effect and is the only agreement in effect with respect to the
matters described therein.

 

Section
2.15. Brokers. No broker, finder or investment banker is entitled to any brokerage, finder’s or other fee or
commission in connection with the transactions contemplated by this Agreement based upon arrangements made by or on behalf of
Seller.

 

Section
2.16. Non-Foreign Status. Seller is not a foreign person as such term is used in Section 1446(f) of the Internal Revenue
Code of 1986, as amended (“Code”) or Treasury Regulations Section 1.1445-2.

 

Section
2.17. Taxes. (a) all tax returns (including information returns) required to be filed on or before the Closing Date
by the Company have been timely filed, (b) all such tax returns are true, complete and correct in all respects, (c) all taxes
due and owing by the Company (whether or not shown on any tax return) have been timely paid, (d) all deficiencies asserted, or
assessments made, against the Company as a result of any examinations by any taxing authority have been fully paid, and (e) there
are no pending or threatened actions by any taxing authority.

 

Section
2.18. Books and Records. The books and records of account of the Company have been appropriately maintained by the
Company in compliance with generally accepted practices and principles of accounting through the Closing Date.

 

Section
2.19. Stock Consideration. Seller is acquiring the Stock Consideration solely for its own account for investment purposes
and not with a view to, or for offer or sale in connection with, any distribution thereof. Seller acknowledges that the Stock
Consideration is not registered under the Securities Act of 1933, as amended, or any state securities laws, and that the Stock
Consideration may not be transferred or sold except pursuant to the registration provisions of the Securities Act of 1933, as
amended or pursuant to an applicable exemption therefrom and subject to state securities laws and regulations, as applicable.

 

Section
2.20. Full Disclosure. No representation or warranty by Seller in this Agreement and no statement contained in the
disclosure schedules to this Agreement or any certificate or other document furnished or to be furnished to Buyer pursuant to
this Agreement contains any untrue statement of a material fact, or omits to state a material fact necessary to make the statements
contained therein, in light of the circumstances in which they are made, not misleading

 

    	 

    	 

    

 

ARTICLE
III

 

REPRESENTATIONS
AND WARRANTIES OF BUYER

 

Buyer
represents and warrants to Seller that the statements contained in this Article III are true and correct as of the date hereof.

 

Section
3.01. Organization and Authority of Buyer; Enforceability. Buyer is a corporation duly organized, validly existing
and in good standing under the laws of the state of Delaware. Buyer has full corporate power and authority to enter into this
Agreement and the documents to be delivered hereunder, to carry out its obligations hereunder and to consummate the transactions
contemplated hereby. The execution, delivery and performance by Buyer of this Agreement and the documents to be delivered hereunder
and the consummation of the transactions contemplated hereby have been duly authorized by all requisite corporate action on the
part of Buyer. This Agreement and the documents to be delivered hereunder have been duly executed and delivered by Buyer, and
(assuming due authorization, execution and delivery by Seller) this Agreement and the documents to be delivered hereunder constitute
legal, valid and binding obligations of Buyer enforceable against Buyer in accordance with their respective terms.

 

Section
3.02. No Conflicts; Consents. The execution, delivery and performance by Buyer of this Agreement and the documents
to be delivered hereunder, and the consummation of the transactions contemplated hereby, do not and will not: (a) violate or conflict
with the organizational documents of Buyer; or (b) violate or conflict with any judgment, order, decree, statute, law, ordinance,
rule or regulation applicable to Buyer.

 

Section
3.03. Investment Purpose. Buyer is acquiring the Membership Interests solely for its own account for investment purposes
and not with a view to, or for offer or sale in connection with, any distribution thereof. Buyer acknowledges that the Membership
Interests are not registered under the Securities Act of 1933, as amended, or any state securities laws, and that the Membership
Interests may not be transferred or sold except pursuant to the registration provisions of the Securities Act of 1933, as amended
or pursuant to an applicable exemption therefrom and subject to state securities laws and regulations, as applicable.

 

Section
3.04. Brokers. No broker, finder or investment banker is entitled to any brokerage, finder’s or other fee or
commission in connection with the transactions contemplated by this Agreement based upon arrangements made by or on behalf of
Buyer.

 

Section
3.05. Legal Proceedings. There is no action pending or, to Buyer’s knowledge, threatened against or by Buyer
or any affiliate of Buyer that challenges or seeks to prevent, enjoin or otherwise delay the transactions contemplated by this
Agreement. No event has occurred or circumstances exist that may give rise or serve as a basis for any such action.

 

    	 	 	 

     

    

 

ARTICLE
IV

 

CLOSING
DELIVERIES

 

Section
4.01. Seller’s Deliveries. At the Closing, Seller shall deliver to Buyer the following:

 

(a)
A Membership Interest Assignment and Assumption Agreement, in the form attached hereto as Exhibit A, duly executed by the Seller;

 

(b)
An Amended and Restated Limited Liability Company Agreement of the Company, reflecting Buyer as the sole member and holder of
all of the issued and outstanding Membership Interests, duly executed by the Company and, if required, the manager of the Company;

 

(d)
a Bill of Sale for the Transferred Intellectual Property, substantially in the form attached hereto as Exhibit C, duly executed
by Seller;

 

(e)
an Intellectual Property Assignment and Assumption Agreement, substantially in the form attached hereto as Exhibit C, duly executed
by Seller; and

 

(f)
Any third-party consents required to transfer any of the Company’s assets or the Transferred Intellectual Property to Buyer.

 

Section
4.02. Buyer’s Deliveries. At the Closing, Buyer shall deliver the following to Seller:

 

(a)
Book Entry certificates or other evidence reflecting the issuance to Seller of the Stock Consideration;

 

(b)
A Membership Interest Assignment and Assumption Agreement, in the form attached hereto as Exhibit A, duly executed by the Buyer;

 

(c)
An Amended and Restated Limited Liability Company Agreement of the Company, reflecting Buyer as the sole member and holder of
all of the issued and outstanding Membership Interests, duly executed by the Buyer;

 

(d)
a Bill of Sale for the Transferred Intellectual Property, substantially in the form attached hereto as Exhibit B, duly executed
by Buyer; and

 

(e)
an Intellectual Property Assignment and Assumption Agreement, substantially in the form attached hereto as Exhibit C, duly executed
by Buyer.

ARTICLE
V

 

COVENANTS

 

Section
5.01. Confidentiality. From and after the Closing, Seller shall, and shall cause its affiliates to, hold, and shall
use its reasonable best efforts to cause its or their respective directors, officers, employees, consultants, counsel, accountants,
and other agents (“Representatives”) to hold, in confidence any and all information, whether written or oral,
concerning the Intellectual Property, except to the extent that Seller can show that such information: (a) is generally available
to and known by the public through no fault of Seller, any of its affiliates, or their respective Representatives; or (b) is lawfully
acquired by Seller, any of its affiliates, or their respective Representatives from and after the Closing from sources which are
not prohibited from disclosing such information by a legal, contractual, or fiduciary obligation. If Seller or any of its affiliates
or their respective Representatives are compelled to disclose any information by governmental order or law, Seller shall promptly
notify Buyer in writing and shall disclose only that portion of such information which is legally required to be disclosed, provided
that Seller shall use reasonable best efforts to obtain as promptly as possible an appropriate protective order or other reasonable
assurance that confidential treatment will be accorded such information.

 

    	 

    	 

    

 

5.02.
Further Assurances. Following the Closing, each of the Parties hereto shall, and shall cause their respective affiliates
to, execute and deliver such additional documents, instruments, conveyances, and assurances and take such further actions as may
be reasonably required to carry out the provisions hereof and give effect to the transactions contemplated by this Agreement and
the other documents and agreements to be delivered herewith. It is the express intent of the Parties that Buyer receive the entire
Intellectual Property portfolio of Seller, which includes the Company Intellectual Property and Transferred Intellectual Property.
Therefore, following the Closing, Seller agrees to take any and all action to effect the conveyance to Buyer or its designated
assignee all of the Company Intellectual Property and Transferred Intellectual Property, whether or not listed or accurately described
on Schedule 2.09(a) or Schedule 2.09(b), in the event there is any issue conveying such Intellectual Property to Buyer or its
designated assignee including, but not limited to, correcting or updating all filings with the United States Patent and Trademark
Office (or any similar foreign office), correcting any flawed assignments (regardless of when such assignment occurred), and correcting
any other defects in title or the chain of title. Seller hereby grants to Buyer an irrevocable power of attorney to take any and
all action to effect the conveyance of the Company Intellectual Property and the Transferred Intellectual Property to Buyer.

 

ARTICLE
VI

 

TAX
MATTERS

 

Section
6.01. Tax Covenants.

 

(a)
Without the prior written consent of Buyer, Seller shall not, to the extent it may affect, or relate to, the Company, make, change
or rescind any tax election, amend any tax return or take any position on any tax return, take any action, omit to take any action
or enter into any other transaction that would have the effect of increasing the tax liability or reducing any tax asset of Buyer
or the Company in respect of any Post-Closing Tax Period. Seller agrees that Buyer is to have no liability for any tax resulting
from any action of Seller, the Company, its affiliates or any of their respective Representatives, and agrees to indemnify and
hold harmless Buyer against any such tax or reduction of any tax asset.

 

(b)
All transfer, documentary, sales, use, stamp, registration, value added and other such taxes and fees (including any penalties
and interest) incurred in connection with this Agreement shall be borne and paid by Seller when due. Seller shall, at its own
expense, timely file any tax return or other document with respect to such taxes or fees (and Buyer shall cooperate with respect
thereto as necessary).

 

    	 

    	 

    

 

(c)
Buyer shall prepare, or cause to be prepared, all tax returns required to be filed by the Company after the Closing Date with
respect to a Pre-Closing Tax Period. Any such tax return shall be prepared in a manner consistent with past practice (unless otherwise
required by law) and without a change of any election or any accounting method. The preparation and filing of any tax return of
the Company that does not relate to a Pre-Closing Tax Period shall be exclusively within the control of Buyer.

 

Section
6.02. Tax Indemnification. Seller shall indemnify the Company, Buyer, and each of Buyer’s affiliates and hold
them harmless from and against (a) any loss attributable to any breach of or inaccuracy in any representation or warranty made
in Section 2.19; (b) any loss attributable to any breach or violation of, or failure to fully perform, any covenant, agreement,
undertaking or obligation in Article VI; (c) all taxes of the Company or relating to the business of the Company for all Pre-Closing
Tax Periods; (d) all taxes of any member of an affiliated, consolidated, combined or unitary group of which the Company (or any
predecessor of the Company) is or was a member on or prior to the Closing Date by reason of a liability under Treasury Regulation
Section 1.1502-6 or any comparable provisions of foreign, state or local Law; and (e) any and all taxes of any person imposed
on the Company arising under the principles of transferee or successor liability or by contract, relating to an event or transaction
occurring before the Closing Date. In each of the above cases, together with any out-of-pocket fees and expenses (including attorneys’
and accountants’ fees) incurred in connection therewith. Seller shall reimburse Buyer for any Taxes of the Company that
are the responsibility of Seller pursuant to this Section 6.02 within ten (10) business days after payment of such taxes by Buyer
or the Company.

 

Section
6.03. Straddle Period. In the case of taxes that are payable with respect to a taxable period that begins before and
ends after the Closing Date (each such period, a “Straddle Period”), the portion of any such taxes that are
treated as taxes incurred prior to the Closing Date (and thus the obligation of Seller to pay) for purposes of this Agreement
shall be:

 

(a)
in the case of taxes (i) based upon, or related to, income, receipts, profits, wages, capital or net worth, (ii) imposed in connection
with the sale, transfer or assignment of property, or (iii) required to be withheld, deemed equal to the amount which would be
payable if the taxable year ended with the Closing Date; and

 

(b)
in the case of other taxes, deemed to be the amount of such taxes for the entire period multiplied by a fraction the numerator
of which is the number of days in the period ending on the Closing Date and the denominator of which is the number of days in
the entire period.

 

Section
6.04. Cooperation and Exchange of Information. Seller and Buyer shall provide each other with such cooperation and
information as either of them reasonably may request of the other in filing any tax return pursuant to this Article VI or in connection
with any audit or other proceeding in respect of taxes of the Company.

 

Section
6.05. Tax Treatment of Indemnification Payments. Any indemnification payments pursuant to this Article VI shall be
treated as an adjustment to the Purchase Price by the Parties for tax purposes, unless otherwise required by law.

 

    	 

    	 

    

 

Section
6.06. Overlap. To the extent that any obligation or responsibility pursuant to Article VII may overlap with an obligation
or responsibility pursuant to this Article VI, the provisions of this Article VI shall govern.

 

Section
6.07. Definitions. The following terms used in this Article VI and elsewhere in this Agreement have the meanings specified
in this Section 6.7:

 

“Post-Closing
Tax Period” means any taxable period beginning after the Closing Date and, with respect to any taxable period beginning
before and ending after the Closing Date, the portion of such taxable period beginning after the Closing Date.

 

“Pre-Closing
Tax Period” means any taxable period ending on or before the Closing Date and, with respect to any taxable period beginning
before and ending after the Closing Date, the portion of such taxable period ending on and including the Closing Date.

 

ARTICLE
VII

 

INDEMNIFICATION

 

Section
7.01. Survival of Representations and Covenants. All representations, warranties, covenants and agreements contained
herein and all related rights to indemnification shall survive the Closing, subject to any applicable statutes of limitation.

 

Section
7.02. Indemnification By Seller. Subject to the other terms and conditions of this Article VII, Seller shall defend,
indemnify and hold harmless Buyer, its affiliates and their respective stockholders, directors, officers and employees from and
against:

 

(a)
all losses, liabilities, damages, fees, deficiencies, actions, judgments, interest, awards, penalties, fines costs, or other expenses
of whatever kind, including reasonable attorneys’ fees (a “Loss”), arising from or relating to any inaccuracy
in or breach of any of the representations or warranties of Seller contained in this Agreement or any document to be delivered
hereunder;

 

(b)
any Loss arising from or relating to any breach or non-fulfillment of any covenant, agreement or obligation to be performed by
Seller pursuant to this Agreement or any document to be delivered hereunder; or

 

(c)
the amount of any imputed underpayment (as described in Section 6225 of the Internal Revenue Code) imposed on the Company and
allocable to the Seller or attributable to the Membership Interests during taxable years, or portions thereof, when the Seller
owned the Membership Interests (the “Seller Ownership Period”), or any other income tax assessment imposed
on the Company under any similar provision of state or local law and allocable to the Seller or attributable to the Membership
Interests during the Seller Ownership Period.

 

    	 	 	 

     

    

 

Section
7.03. Indemnification By Buyer. Subject to the other terms and conditions of this Article VII, Buyer shall defend,
indemnify and hold harmless Seller, its affiliates and their respective stockholders, directors, officers and employees from and
against all Losses arising from or relating to:

 

(a)
any inaccuracy in or breach of any of the representations or warranties of Buyer contained in this Agreement or any document to
be delivered hereunder; or

 

(b)
any breach or non-fulfillment of any covenant, agreement or obligation to be performed by Buyer pursuant to this Agreement or
any document to be delivered hereunder.

 

Section
7.04. Indemnification Procedures. Whenever any claim shall arise for indemnification hereunder, the party entitled
to indemnification (the “Indemnified Party”) shall promptly provide written notice of such claim to the other
party (the “Indemnifying Party”). In connection with any claim giving rise to indemnity hereunder resulting
from or arising out of any action by a person or entity who is not a Party to this Agreement, the Indemnifying Party, at its sole
cost and expense and upon written notice to the Indemnified Party, may assume the defense of any such action with counsel reasonably
satisfactory to the Indemnified Party. The Indemnified Party shall be entitled to participate in the defense of any such action,
with its counsel and at its own cost and expense. If the Indemnifying Party does not assume the defense of any such action, the
Indemnified Party may, but shall not be obligated to, defend against such action in such manner as it may deem appropriate, including,
but not limited to, settling such action, after giving notice of it to the Indemnifying Party, on such terms as the Indemnified
Party may deem appropriate and no action taken by the Indemnified Party in accordance with such defense and settlement shall relieve
the Indemnifying Party of its indemnification obligations herein provided with respect to any damages resulting therefrom. The
Indemnifying Party shall not settle any action without the Indemnified Party’s prior written consent (which consent shall
not be unreasonably withheld or delayed).

 

Section
7.05. Payments. Once a Loss is agreed to by the Indemnifying Party or finally adjudicated to be payable pursuant to
this Article VII, the Indemnifying Party shall satisfy its obligations within fifteen (15) business days of such final, non-appealable
adjudication by wire transfer of immediately available funds. The Parties hereto agree that should an Indemnifying Party not make
full payment of any such obligations within such fifteen (15) business day period, any amount payable shall accrue interest from
and including the date of agreement of the Indemnifying Party or final, non-appealable adjudication to and including the date
such payment has been made at a rate per annum equal to the U.S. prime rate then in effect. Such interest shall be calculated
daily on the basis of a 365-day year and the actual number of days elapsed.

 

Section
7.06. Tax Treatment of Indemnification Payments. All indemnification payments made under this Agreement shall be treated
by the Parties as an adjustment to the Purchase Price for tax purposes, unless otherwise required by law.

 

Section
7.07. Effect of Investigation. Buyer’s right to indemnification or other remedy based on the representations,
warranties, covenants and agreements of Seller contained herein will not be affected by any investigation conducted by Buyer with
respect to, or any knowledge acquired by Buyer at any time, with respect to the accuracy or inaccuracy of or compliance with,
any such representation, warranty, covenant or agreement.

 

    	 

    	 

    

 

Section
7.08. Cumulative Remedies. The rights and remedies provided in this Article VII are cumulative and are in addition
to and not in substitution for any other rights and remedies available at law or in equity or otherwise.

 

ARTICLE
VIII

 

Dispute
Resolution

 

8.01.
Mediation; Selection of a Mediator. In the event of any dispute between any Parties to this Agreement that the Parties
cannot themselves timely resolve to their mutual satisfaction, such dispute shall first be submitted to mediation. Mediation proceedings
shall take place in Peoria, Arizona by a duly qualified neutral attorney experienced in mediation or other professional mediator
chosen by the Parties if the Parties can so agree upon selection of the mediator within ten (10) days of either Party sending
written notice to the other Party requesting the mediation of the dispute. In the event that the Parties cannot timely agree upon
selection of the mediator, then the Parties shall request a list of seven (7) mediators versed in the area of law that is the
subject of the claim. The Parties shall select the single mediator from said list, by agreement if possible, and in the absence
of an agreement within ten (10) days of receipt of said list, the mediator shall be selected from said list by each Party, in
turn, striking a name from said list until only a single name remains, who shall serve as the sole mediator.

 

8.02.
Mediation Proceedings; Unresolved Disputes. The mediation shall take place not later than thirty (30) days after selection
of the mediator; during which, with the assistance and counseling of said mediator, the Parties shall, in good faith, attempt
to resolve their dispute. The Parties to the mediation shall be required to maintain the confidential nature of said proceedings.
Any remaining unresolved disputes or issues following completion of said mediation proceedings shall be set forth in writing and
moved to the state courts for Maricopa County, Arizona. Each Party to the mediation shall be responsible for their own costs and
expenses. The costs of the mediation proceedings itself, and the fees and costs of the mediator, shall be shared equally by the
Parties to the dispute.

 

8.03.
Attorney’s Fees. In the event of any dispute regarding the interpretation or enforcement of this Agreement that
was not settled by mediation, the prevailing Party in such dispute shall be entitled to recover its reasonable attorney fees and
costs and expenses, including, but not limited to, court costs, and specifically including with the definition of “costs”
all reasonable charges, expenses, consultant fees, and expert witness fees, and attorney fees that the prevailing Party may incur
in such dispute. Notwithstanding any other terms and provisions in this Agreement to the contrary, an award of damages to a party
under this Agreement shall be limited exclusively to actual and direct damages, and shall not include any non-direct damages such
as and including indirect, consequential, incidental, punitive and/or special damages; and each party, to the extent permitted
by law, knowingly, voluntarily and intentionally waives its right to a trial by jury in any action or proceeding under any theory
of liability arising out of or in any way connected with this Agreement or the transactions it contemplates.

 

    	 

    	 

    

 

ARTICLE
IX

 

MISCELLANEOUS

 

Section
9.01. Expenses. All costs and expenses incurred in connection with this Agreement and the transactions contemplated
hereby shall be paid by the Party incurring such costs and expenses.

 

Section
9.02. Further Assurances. Following the Closing, each of the Parties hereto shall, and shall cause their respective
affiliates to, execute and deliver such additional documents, instruments, conveyances and assurances and take such further actions
as may be reasonably required to carry out the provisions hereof and give effect to the transactions contemplated by this Agreement.

 

Section
9.03. Notices. All notices, requests, consents, claims, demands, waivers and other communications hereunder shall be
in writing and shall be deemed to have been given (a) when delivered by hand (with written confirmation of receipt); (b) when
received by the addressee if sent by a nationally recognized overnight courier (receipt requested); (c) on the date sent by facsimile
or e-mail of a PDF document (with confirmation of transmission) if sent during normal business hours of the recipient, and on
the next Business Day if sent after normal business hours of the recipient or (d) on the third (3rd) day after the
date mailed, by certified or registered mail, return receipt requested, postage prepaid. Such communications must be sent to the
respective parties at the following addresses (or at such other address for a party as shall be specified in a notice given in
accordance with this Section 9.03):

 

	 	If
    to Seller:	 	BBHC,
    Inc.
	 	 	 	Attn:
    Legal Department
	 	 	 	24980
    N. 83rd Avenue, Ste. 100
	 	 	 	Peoria,
    Arizona 85383
	 	 	 	Email:	notices@taronistech.com
	 	 	 	 
	 	If
    to Buyer:	 	Taronis
    Fuels, Inc.
	 	 	 	Attn:
    Legal Department 
	 	 	 	24980
    N. 83rd Avenue, Ste. 100
	 	 	 	Peoria,
    Arizona 85383
	 	 	 	Email:	notices@taronisfuels.com

 

Section
9.04. Headings. The headings in this Agreement are for reference only and shall not affect the interpretation of this
Agreement.

 

Section
9.05. Severability. If any term or provision of this Agreement is invalid, illegal or unenforceable in any jurisdiction,
such invalidity, illegality or unenforceability shall not affect any other term or provision of this Agreement or invalidate or
render unenforceable such term or provision in any other jurisdiction. Upon such determination that any term or other provision
is invalid, illegal or unenforceable, the Parties hereto shall negotiate in good faith to modify the Agreement so as to effect
the original intent of the Parties as closely as possible in a mutually acceptable manner in order that the transactions contemplated
hereby be consummated as originally contemplated to the greatest extent possible.

 

    	 

    	 

    

 

Section
9.06. Entire Agreement. This Agreement and the documents to be delivered hereunder constitute the sole and entire agreement
of the parties to this Agreement with respect to the subject matter contained herein, and supersede all prior and contemporaneous
understandings and agreements, both written and oral, with respect to such subject matter. In the event of any inconsistency between
the statements in the body of this Agreement and those in documents to be delivered hereunder, the exhibits and disclosure schedules
(other than an exception expressly set forth as such in the disclosure schedules), the statements in the body of this Agreement
will control.‌

 

Section
9.07. Successors and Assigns. This Agreement shall be binding upon and shall inure to the benefit of the Parties hereto
and their respective successors and permitted assigns. Neither Party may assign its rights or obligations hereunder without the
prior written consent of the other Party, which consent shall not be unreasonably withheld or delayed. No assignment shall relieve
the assigning party of any of its obligations hereunder.

 

Section
9.08. No Third-Party Beneficiaries. Except as provided in Article VI, this Agreement is for the sole benefit of the
parties hereto and their respective successors and permitted assigns and nothing herein, express or implied, is intended to or
shall confer upon any other person or entity any legal or equitable right, benefit or remedy of any nature whatsoever under or
by reason of this Agreement.

 

Section
9.09. Amendment and Modification. This Agreement may only be amended, modified or supplemented by an agreement in writing
signed by each Party hereto.

 

Section
9.10. Waiver. No waiver by any Party of any of the provisions hereof shall be effective unless explicitly set forth
in writing and signed by the Party so waiving. No waiver by any Party shall operate or be construed as a waiver in respect of
any failure, breach or default not expressly identified by such written waiver, whether of a similar or different character, and
whether occurring before or after that waiver. No failure to exercise, or delay in exercising, any right, remedy, power or privilege
arising from this Agreement shall operate or be construed as a waiver thereof; nor shall any single or partial exercise of any
right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right,
remedy, power or privilege.

 

Section
9.11. Governing Law. This Agreement shall be governed by and construed in accordance with the internal laws of the
State of Delaware without giving effect to any choice or conflict of law provision or rule (whether of the State of Delaware or
any other jurisdiction).

 

Section
9.12. Submission to Jurisdiction. Any legal suit, action or proceeding arising out of or based upon this Agreement
or the transactions contemplated hereby may be instituted in the federal courts of the United States of America or the courts
of the State of Arizona in each case located in the city of Peoria and county of Maricopa, and each Party irrevocably submits
to the exclusive jurisdiction of such courts in any such suit, action or proceeding.

 

Section
9.13. Waiver of Jury Trial. Each Party acknowledges and agrees that any controversy which may arise under this Agreement
is likely to involve complicated and difficult issues and, therefore, each such Party irrevocably and unconditionally waives any
right it may have to a trial by jury in respect of any legal action arising out of or relating to this Agreement or the transactions
contemplated hereby.

 

Section
9.14. Specific Performance. The Parties agree that irreparable damage would occur if any provision of this Agreement
were not performed in accordance with the terms hereof and that the parties shall be entitled to specific performance of the terms
hereof, in addition to any other remedy to which they are entitled at law or in equity. Each Party hereto (i) agrees that it shall
not oppose the granting of such specific performance or relief and (ii) hereby irrevocably waives any requirements for the security
or posting of any bond in connection with such relief.

 

Section
9.15. Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but
all of which together shall be deemed to be one and the same agreement. A signed copy of this Agreement delivered by facsimile,
e-mail or other means of electronic transmission shall be deemed to have the same legal effect as delivery of an original signed
copy of this Agreement.

 

[signature
page follows]

 

[remainder
of page intentionally left blank]

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed as of the date first written above by their respective
officers thereunto duly authorized.

 

	Seller:	 	Buyer:
	 	 	 
	BBHC, Inc. 	 	Taronis Fuels, Inc.
	 	 	 	 	 
	/s/ Tyler B. Wilson	 	/s/ Scott Mahoney
	Name:	Tyler B. Wilson	 	Name:	Scott Mahoney
	Title:	Authorized Signatory	 	Title:	Authorized Signatory

 

    	 

    	 

    

 

List
of Schedules and Exhibits

 

“Schedule
2.09(a)”......Company Intellectual Property

 

“Schedule
2.09(b)”......Transferred Intellectual Property

 

“Exhibit
A”...............Form of Membership Interest Assignment and Assumption Agreement

 

“Exhibit
B”...............Form of Bill of Sale

 

“Exhibit
C”...............Form of Intellectual Property Assignment and Assumption Agreement

 

    	 

    	 

    

 

Schedule
2.09(a)

Company
Intellectual Property

 

	Issued
    patents and pending applications
	Serial
    Number	 	Date
                                         of

                                                                                Filing
	 	Publication
    Number	 	Patent

                                                                                Number
	 	Patent
    or Patent Application Title
	09/372,277	 	8/11/1999	 	 	 	6,183,604	 	DURABLE
                                         AND EFFICIENT EQUIPMENT FOR THE PRODUCTION OF A COMBUSTIBLE AND NON- POLLUTANT GAS FROM

        UNDERWATER
        ARCS AND METHOD THEREFOR

	09/970,405	 	10/03/2001	 	2003/0133855	 	6,663,752	 	CLEAN
    BURNING LIQUID FUEL PRODUCED VIA A SELF- SUSTAINING PROCESSING OF LIQUID FEEDSTOCK
	09/896,422	 	6/29/2001	 	2002/0004022	 	6,673,322	 	APPARATUS
    FOR MAKING A NOVEL, HIGHLY EFFICIENT, NONPOLLUTANT, OXYGEN RICH AND COST COMPETITIVE COMBUSTIBLE GAS AND ASSOCIATED METHOD
	15/676,304	 	8/14/2017	 	2012/0000787	 	10,537,902	 	RECLAMATION
    OF METALS FROM A FLUID

 

    	 

    	 

    

 

Schedule
2.09(b)

Transferred
Intellectual Property

 

Patents

 

	Issued
    patents and pending applications
	Serial
    Number	 	Date
                                         of

                                                                                Filing
	 	Publication
    Number	 	Patent

                                                                                Number
	 	Patent
    or Patent Application Title
	10/008,813	 	12/07/2001	 	2003/0106787	 	6,926,872	 	APPARATUS
    AND METHOD FOR PRODUCING A CLEAN BURNING COMBUSTIBLE GAS WITH LONG LIFE ELECTRODES AND MULTIPLE PLASMA-ARC-FLOWS
	10/020,091	 	12/14/2001	 	2003/0113597	 	6,972,118	 	APPARATUS
    AND METHOD FOR PROCESSING HYDROGEN, OXYGEN AND OTHER GASES
	12/828,905	 	07/01/2010	 	2012/0000787	 	8,236,150	 	PLASMA-ARC-THROUGH
    APPARATUS AND PROCESS FOR SUBMERGED ELECTRIC ARCS
	61/898,839	 	11/01/2013	 	N/A	 	N/A	 	APPARATUS
    FOR FLOW- THROUGH OF ELECTRIC ARCS
	14/244,229	 	04/03/2014	 	2014/0299463	 	9,700,870	 	METHOD
    AND APPARATUS FOR THE INDUSTRIAL PRODUCTION OF NEW HYDROGEN-RICH FUELS
	61/988,973	 	05/06/2014	 	N/A	 	N/A	 	RECLAMATION
    OF METALS FROM A FLUID

 

    	 

    	 

    

 

	Issued
    patents and pending applications
	Serial
    Number	 	Date
                                         of

                                                                                Filing
	 	Publication
    Number	 	Patent
    

    Number	 	Patent
    or Patent Application Title
	14/288,807	 	05/28/2014	 	N/A	 	9,433,916	 	PLASMA-ARC-THROUGH
    APPARATUS AND PROCESS FOR SUBMERGED ELECTRIC ARCS WITH VENTING
	14/529,723	 	10/31/2014	 	2015/0122632	 	N/A	 	APPARATUS
    FOR FLOW- THROUGH OF ELECTRIC ARCS
	14/703,246	 	5/04/2015	 	N/A	 	9,764,335	 	RECLAMATION
    OF METALS FROM A FLUID
	62/269,232	 	12/18/2015	 	N/A	 	N/A	 	INCINERATION
    OF BIO-HAZARD MATERIAL
	62/269,242	 	12/18/2015	 	N/A	 	N/A	 	STERILIZATION
    OF FLUIDS USING ELECTRIC ARC
	15/230,537	 	8/08/2016	 	US
                                         2016-

        0340790
        A1
	 	10,100,416	 	PLASMA-ARC-THROUGH
    APPARATUS AND PROCESS FOR SUBMERGED ELECTRIC ARCS WITH VENTING
	62/403,781	 	10/4/2016	 	-	 	-	 	APPARATUS
    FOR FLOW- THROUGH OF ELECTRIC ARCS
	15/380,689	 	12/15/2016	 	US
                                         2017-

        0176001
        A1
	 	-	 	INCINERATION
    OF BIO-HAZARD MATERIAL

 

    	 

    	 

    

 

	Issued
    patents and pending applications
	Serial
    Number	 	Date
                                         of

                                                                                Filing
	 	Publication
    Number	 	Patent

                                                                                Number
	 	Patent
    or Patent Application Title
	15/612,457	 	6/02/2017	 	US
                                         2017-

        0321130
        A1
	 	10,100,262	 	METHOD
    AND APPARATUS FOR THE INDUSTRIAL PRODUCTION OF NEW HYDROGEN-RICH FUELS
	62/542,689	 	8/08/2017	 	-	 	-	 	SYSTEM,
    METHOD, AND APPARATUS FOR GASIFICATION OF A SOLID OR LIQUID
	15/676,304	 	8/14/2017	 	US
                                         2017-

        0361334
        A1
	 	-	 	RECLAMATION
    OF METALS FROM A FLUID
	15/720,816	 	9/29/2017	 	US
                                         2018-

        0093248
        A1
	 	-	 	APPARATUS
    FOR FLOW- THROUGH OF ELECTRIC ARCS
	16/052,759	 	8/02/2018	 	-	 	-	 	SYSTEM,
    METHOD, AND APPARATUS FOR GASIFICATION OF A SOLID OR LIQUID
	11/474,687	 	6/26/2006	 	 	 	7,780,924	 	PLASMA-ARC-FLOW
    APPARATUS FOR SUBMERGED LONG LASTING ELECTRIC ARCS OPERATING UNDER HIGH POWER, PRESSURE AND TEMPERATURE CONDITIONS TO PRODUCE
    A COMBUSTIBLE GAS
	14/529,723	 	10/31/2014	 	2012/0000787	 	10,189,002	 	APPARATUS
    FOR FLOW-THROUGH OF ELECTRIC ARCS

 

Trademarks

 

	Registered
    trademark and pending application
	Serial
    Number	 	Date
                                         of

                                                                                Filing
	 	Date
    of Registration	 	Registration
    Number	 	Word
    Mark
	78039484	 	12/15/2000	 	02/10/2004	 	2812824	 	MAGNEGAS
	 	 	 	 	 	 	 	 	 
	86454770	 	11/14/2014	 	05/03/2016	 	4952283	 	VENTURI
	 	 	 	 	 	 	 	 	 
	86642367	 	05/27/2015	 	03/07/2017	 	5156799	 	MAGNEGAS
    2
	 	 	 	 	 	 	 	 	 
	86816532	 	11/11/2015	 	03/07/2017	 	5157232	 	MAGNETOTE
	 	 	 	 	 	 	 	 	 
	TBD	 	TBD	 	TBD	 	TBD	 	VENTURI
    PLASMA ARC FLOW

 

    	 

    	 

    

 

Exhibit
A

Form
of Membership Interest Assignment and Assumption Agreement

 

Membership
Interest Assignment and Assumption Agreement

 

This
Membership Interest Assignment and Assumption Agreement (the “Agreement”), effective as of August 19,
2020 (the “Effective Date”), is by and between BBHC, Inc., a Delaware corporation (“Seller”),
and Taronis Fuels, Inc., a Delaware corporation (“Buyer”).

 

WHEREAS,
Seller owns all of the issued and outstanding membership interests (the “Membership Interests”) in MagneGas
IP, LLC, a Delaware limited liability company (the “Company”);

 

WHEREAS,
Seller and Buyer have entered into a certain Purchase Agreement, dated as of the Effective Date (the “Purchase Agreement”),
pursuant to which, among other things, Seller has agreed to sell to Buyer, and Buyer has agreed to purchase from Seller, all of
Seller’s right, title and interest in and to the Membership Interests, free and clear of any Encumbrances (as defined in
the Purchase Agreement); and

 

WHEREAS,
pursuant to the Purchase Agreement, of which this Exhibit forms a part, Seller has agreed to execute and deliver this Agreement
to document the conveyance, transfer, and assignment of the Membership Interests to Buyer.

 

NOW,
THEREFORE, in consideration of the mutual covenants, terms, and conditions set forth herein, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

 

1.
Definitions. All capitalized terms used in this Agreement but not otherwise defined herein are given the meanings set forth
in the Purchase Agreement.

 

2.
Assignment and Assumption. Seller hereby sells, assigns, grants, conveys and transfers to Buyer all of Seller’s right,
title and interest in and to the Membership Interests, free and clear of any and all Encumbrances. Buyer hereby accepts such assignment
and assumes all of Seller’s duties and obligations under the Membership Interests. Contemporaneously with the assignment
in the foregoing sentence, Seller hereby agrees to withdraw from the Company as its sole member and, simultaneous with such withdrawal,
Buyer shall take Seller’s place and become the sole member of the Company holding all of the Membership Interests thereof.

 

3.
Effect of Assignment. Seller and Buyer agree that the assignment of the Membership Interests from Seller to Buyer, the
withdrawal of Seller as the sole member of the Company, and the admission of Buyer as the sole member of the Company shall not
dissolve the Company and that the business of the Company shall continue.

 

4.
Terms of the Purchase Agreement. The terms of the Purchase Agreement are incorporated herein by this reference. The parties
hereto acknowledge and agree that the representations, warranties, covenants, agreements and indemnities contained in the Purchase
Agreement shall not be superseded hereby but shall remain in full force and effect to the full extent provided therein. In the
event of any conflict or inconsistency between the terms of the Purchase Agreement and the terms hereof, the terms of the Purchase
Agreement shall govern.

 

4.
Governing Law. This Agreement shall be governed by and construed in accordance with the internal laws of the State of Delaware
without giving effect to any choice or conflict of law provision or rule (whether of the State of Delaware or any other jurisdiction).

 

5.
Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which
together shall be deemed to be one and the same agreement. A signed copy of this Agreement delivered by facsimile, email or other
means of electronic transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this
Agreement.

 

6.
Binding Effect. This Agreement shall be binding upon, and shall inure to the benefit of, the parties hereto and their respective
successors and assigns.

 

6.
Further Assurances. Each of the parties hereto shall execute and deliver, at the reasonable request of the other party
hereto, such additional documents, instruments, conveyances and assurances and take such further actions as such other party may
reasonably request to carry out the provisions hereof and give effect to the transactions contemplated by this Agreement.

 

[signature
page follows]

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, the parties have executed this Bill of Sale to be effective as of the date first above written.

 

	Seller:	 	Buyer:
	 	 	 
	BBHC,
    Inc.	 	Taronis
    Fuels, Inc.
	 	 	 
	Exhibit
    Copy – Do Not Sign.	 	Exhibit
    Copy – Do Not Sign.
	 	 	 
	Name:	Tyler
    B. Wilson	 	Name:	Scott
    Mahoney
	Title:	Authorized
    Signatory	 	Title:	Authorized
                                         Signatory

 

    	 

    	 

    

 

Exhibit
B

Form
of Bill of Sale

 

Bill
of Sale

 

For
good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, BBHC, Inc. a Delaware corporation
(“Seller”), does hereby grant, bargain, transfer, sell, assign, convey and deliver to Taronis Fuels, Inc.,
a Delaware corporation (“Buyer”), all of its right, title and interest in and to the Transferred Intellectual
Property, as such term is defined in the Purchase Agreement, dated as of August 19, 2020 (the “Purchase Agreement”),
by and between Seller and Buyer, to have and to hold the same unto Buyer, its successors and assigns, forever.

 

Seller
for itself, its successors and assigns, hereby covenants and agrees that, at any time and from time to time upon the written request
of Buyer, Seller will do, execute, acknowledge and deliver or cause to be done, executed, acknowledged and delivered, all such
further acts, deeds, assignments, transfers, conveyances, powers of attorney and assurances as may be reasonably required by Buyer
in order to assign, transfer, set over, convey, assure and confirm unto and vest in Buyer, its successors and assigns, title to
the assets sold, conveyed and transferred by this Bill of Sale.

 

[signature
page follows]

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, the parties have executed this Bill of Sale to be effective as of the date first above written.

 

	Seller:	 	Buyer:
	 	 	 	 	 
	BBHC,
    Inc.	 	Taronis
    Fuels, Inc.
	 	 	 
	Exhibit
    Copy – Do Not Sign.	 	Exhibit
    Copy – Do Not Sign.
	 	 	 
	Name:	Tyler
    B. Wilson	 	Name:	Scott
    Mahoney
	Title:	Authorized
    Signatory	 	Title:	Authorized
                                         Signatory

 

    	 

    	 

    

 

Exhibit
C

Form
of Intellectual Property Assignment and Assumption Agreement

 

Intellectual
Property Assignment and Assumption Agreement

 

This
Intellectual Property Assignment and Assumption Agreement (the “Agreement”), effective as of August 19,
2020 (the “Effective Date”), is by and between BBHC, Inc., a Delaware corporation (“Seller”)
and Taronis Fuels, Inc., a Delaware corporation (“Buyer”), in reference to the Purchase Agreement dated and
effective on August 19, 2020 between Buyer and Seller (the “Purchase Agreement”), pursuant to which
this Agreement is an Exhibit.

 

WHEREAS,
Seller and Buyer have entered into the Purchase Agreement, pursuant to which, among other things, Seller has conveyed, transferred,
and assigned to Buyer the Transferred Intellectual Property (as defined in the Purchase Agreement), and Buyer has agreed to accept
the Transferred Intellectual Property; and

 

WHEREAS,
Seller has agreed to execute and deliver this Agreement to document the conveyance, transfer, and assignment of the Transferred
Intellectual Property and for recording, if necessary, with the appropriate intellectual property entities or agencies in any
applicable jurisdictions, including, but not limited to, the United States Patent and Trademark Office.

 

NOW,
THEREFORE, the parties agree as follows:

 

1.
Assignment. For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Seller hereby
irrevocably conveys, transfers, and assigns to Buyer, and Buyer hereby accepts, all of Sellers right, title, and interest in and
to the Transferred Intellectual Property, including all rights of any kind whatsoever of Seller accruing under any of the foregoing
provided by applicable law of any jurisdiction, by international treaties and conventions, and otherwise throughout the world,
any and all royalties, fees, income, payments, and other proceeds now or hereafter due or payable with respect to any and all
of the foregoing, and any and all claims and causes of action with respect to any of the foregoing, whether accruing before, on,
or after the date hereof, including all rights to and claims for damages, restitution, and injunctive and other legal and equitable
relief for past, present, and future infringement, dilution, misappropriation, violation, misuse, breach, or default, with the
right but no obligation to sue for such legal and equitable relief and to collect, or otherwise recover, any such damages.

 

2.
Recordation and Further Actions. Seller hereby authorizes the Commissioner for Patents, the Commissioner for Trademarks,
and officials of any entities or agencies in any applicable jurisdictions to record and register this Agreement upon request by
Buyer. Following the date hereof, Seller shall take such steps and actions, and provide such cooperation and assistance to Buyer
and its successors, assigns, and legal representatives, including the execution and delivery of any affidavits, declarations,
oaths, exhibits, assignments, powers of attorney, or other documents, as may be necessary to effect, evidence, or perfect the
assignment of the Transferred Intellectual Property to Buyer, or any assignee or successor thereto.

 

3.
Terms of the Asset Purchase Agreement. The parties hereto acknowledge and agree that this Agreement is entered into pursuant
to the Purchase Agreement, to which reference is made for a further statement of the rights and obligations of Seller and Buyer
with respect to the Transferred Intellectual Property. The representations, warranties, covenants, agreements, and indemnities
contained in the Purchase Agreement shall not be superseded hereby but shall remain in full force and effect to the full extent
provided therein. In the event of any conflict or inconsistency between the terms of the Purchase Agreement and the terms hereof,
the terms of the Purchase Agreement shall govern.

 

4.
Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which
together shall be deemed one and the same agreement. A signed copy of this Agreement delivered by facsimile, e-mail, or other
means of electronic transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this
Agreement.

 

5.
Successors and Assigns. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their
respective successors and assigns.

 

6.
Governing Law. This Agreement and any claim, controversy, dispute, or cause of action (whether in contract, tort, or otherwise)
based upon, arising out of, or relating to this Agreement and the transactions contemplated hereby shall be governed by, and construed
in accordance with, the laws of the United States and the State of Delaware, without giving effect to any choice or conflict of
law provision or rule (whether of the State of Delaware or any other jurisdiction).

 

[signature
page follows]

 

    	 

    	 

    

 

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

 

	Seller:	 	Buyer:
	 	 	 	 	 
	BBHC,
    Inc.	 	Taronis
    Fuels, Inc.
	 	 	 	 	 
	Exhibit
    Copy – Do Not Sign.	 	Exhibit
    Copy – Do Not Sign.
	 	 	 
	Name:	Tyler
    B. Wilson	 	Name:	Scott
    Mahoney
	Title:	Authorized
    Signatory	 	Title:	Authorized
                                         Signatory

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