Document:

Exhibit 10.1

 

SUBSCRIPTION AGREEMENT

 

This Subscription Agreement (this “Agreement”)
has been executed by the subscriber set forth on the signature page hereof (the “Subscriber”) in connection
with the private placement offering (the “Offering”) by TapImmune Inc., a Nevada corporation (the
“Company”), of Units (“Units”), with each Unit consisting of one share of the
Company’s common stock (“Common Stock”), par value $0.001 per share (each, a “Share”)
and one five-year warrant to purchase one share of Common Stock with an exercise price equal to the Market Value (as defined below)
(each an “Investor Warrant”). The price per Unit (the “Purchase Price”)
will be equal to “Market Value,” as defined below, plus $0.125. The $0.125 will be allocated to the warrant
included in the Unit, and the remainder of the Purchase Price will be allocated to the Share of Common Stock. “Market
Value” is defined as the consolidated closing bid price per share of the Common Stock on the Nasdaq Stock Market
immediately preceding the Company’s acceptance of subscription agreements for at least Five Million Dollars ($5,000,000)
in Units. If the transaction is entered into during market hours, before the close of the regular session at 4 PM Eastern Time,
the previous trading day's consolidated closing bid price will be used. If the transaction is entered into after the close of the
regular session, then that day's consolidated closing bid price will be used. The Nasdaq Official Closing Price may differ from
the consolidated closing bid price.

 

This subscription is being submitted to you
in accordance with and subject to the terms and conditions described in this Agreement.

 

The Units being subscribed for pursuant to
this Agreement have not been registered under the Securities Act of 1933, as amended (the “Securities Act”).
The Offering is being made on a reasonable best efforts basis to “accredited investors,” as defined in Regulation D
under the Securities Act. No offers or sales of the Units may be made in Canada or accepted from individuals or entities in
Canada.

 

The undersigned acknowledges receipt of a copy
of the Registration Rights Agreement, substantially in the form of Exhibit A hereto (the “Registration Rights
Agreement”).

 

The undersigned acknowledges receipt of a copy
of the Warrant Agreement for the Investor Warrants, substantially in the form of Exhibit B hereto.

 

The closing of the Offering (the “Closing,”
and the date on which such Closing occurs, hereinafter referred to as the “Closing Date”) shall take
place at the offices of Katalyst Securities LLC, 630 Third Avenue, 5th Floor, New York, NY 10017.

 

Any term sheet, disclosure schedule or other
information document, delivered to the Subscriber prior to Subscriber’s execution of this Agreement, and any such document
delivered to the Subscriber after Subscriber’s execution of this Agreement and prior to the Closing of the Subscriber’s
subscription hereunder are collectively referred to as the “Disclosure Materials.”

 

Simultaneously with the Closing of the Offering,
653,187 five-year warrants issued in the Company’s August 2016 private placement with closing dates on August 10, 2016 and
August 26, 2016 (the “2016 Offering”) (each warrant providing for the purchase of one share of Common Stock) will be
repriced, such that the exercise price will be reduced from $6.00 per share to an exercise price equal to Market Value (that is,
the same exercise price as the Warrants being issued in this Offering). Each Subscriber that holds warrants issued in the 2016
Offering must pay an additional $0.125 per warrant held by such Subscriber in order to have such Subscriber’s warrants repriced.
Such payment is in addition to the Purchase Price for the Units. See “How to subscribe for Units in the private offering
of TapImmune Inc.” below for more information. If a Subscriber investing in this Offering declines to pay the additional
$0.125 per warrant, then the exercise price will not be repriced to Market Value and will remain at $6.00 per share.

 

     

     

    

 

		1.	Subscription. The undersigned Subscriber hereby
subscribes to purchase the maximum number of whole Units determined by dividing the dollar amount set forth on the Omnibus Signature
Page attached hereto by the Purchase Price, which will be determined as specified above on the date this Subscription Agreement
is accepted by the Company, subject to the terms and conditions of this Agreement and on the basis of the representations, warranties,
covenants and agreements contained herein.

 

		2.	Subscription Procedure. To complete a subscription
for the Units, the Subscriber must fully comply with the subscription procedure provided in paragraphs a. through c. of this Section
on or before the Closing Date.

 

		a.	Subscription Documents. On or before the Closing
Date, the Subscriber shall review, complete and execute the Omnibus Signature Page to this Agreement and the Registration Rights
Agreement, the Accredited Investor Certification, the Investor Profile, and the Anti-Money Laundering Form attached hereto following
the Omnibus Signature Page (collectively, the “Subscription Documents”), and deliver the Subscription
Documents to Katalyst Securities LLC at the address set forth under the caption “How to subscribe for Units in the private
offering of TapImmune Inc.” below. Executed documents may be delivered to Katalyst Securities by facsimile or .pdf sent
by electronic mail (e-mail), if the Subscriber delivers the original copies of the documents to Katalyst as soon as practicable
thereafter.

 

		b.	Purchase Price. Simultaneously with the delivery
of the Subscription Documents to Katalyst Securities as provided herein, and in any event on or prior to the Closing Date, the
Subscriber shall deliver directly to Delaware Trust Company, in its capacity as escrow agent (the “Escrow Agent”),
the full Purchase Price by certified or other bank check or by wire transfer of immediately available funds, pursuant to the instructions
set forth under the caption “How to subscribe for Units in the private offering of TapImmune Inc.” below. Such
funds will be held for the Subscriber’s benefit and will be returned promptly, without interest or offset, if this Subscription
Agreement is not accepted by the Company or the Offering is terminated pursuant to its terms by the Company prior to the Closing
as defined herein.

 

		c.	Company Discretion. The Subscriber understands and
agrees that the Company in its sole discretion reserves the right to accept or reject this or any other subscription for Units,
in whole or in part, notwithstanding prior receipt by the Subscriber of notice of acceptance of this subscription. The Company
shall have no obligation hereunder until the Company shall execute and deliver to the Subscriber an executed copy of this Agreement.
If this subscription is rejected in whole, or the Offering is terminated, all funds received from the Subscriber will be returned
without interest or offset, and this Agreement shall thereafter be of no further force or effect. If this subscription is rejected
in part, the funds for the rejected portion of this subscription will be returned without interest or offset, and this Agreement
will continue in full force and effect to the extent this subscription was accepted.

 

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		3.	Placement Agent. Katalyst Securities LLC, a broker-dealer
licensed with Financial Industry Regularity Authority (“FINRA”), has been engaged as the exclusive placement
agent for the Offering on a reasonable best efforts basis. The Placement Agent may sell Units through other broker dealers who
are FINRA members (collectively the “Sub Agents”). The Placement Agent and its sub-agents will be paid at closing
a cash commission of Ten Percent (10%) of funds raised from investors in the Offering introduced by them (“Placement
Agent Cash Fee”) and will receive warrants to purchase a number of Shares of Common Stock equal to Ten Percent (10%)
of the amount of Common Stock sold in the Offering, which warrants will be on the same terms as the Investor Warrants (the “Placement
Agent Warrants”) (collectively referred to as the “Placement Agent Fee”). The Placement
Agent Warrants and the Investor Warrants are referred to collectively herein as the “Warrants.” Any
sub-agent of this Placement Agent that introduces investors to the Offering will be entitled to share in the Placement Agent Cash
Fee and Placement Agent Warrants attributable to those investors as described above, pursuant to the terms of an executed sub-agent
agreement. The Company will pay the Placement Agent a non-accountable expense allowance of $50,000 in connection with the Offering
from the proceeds in the Escrow Account upon the closing of the Offering.

 

		4.	Representations and Warranties of the Company. The
Company hereby represents and warrants to the Subscriber, as of the Closing Date (unless otherwise specified), the following:

 

		a.	Organization and Qualification.
The Company and each of its subsidiaries is a corporation or other business entity duly organized and validly existing in good
standing under the laws of the jurisdiction of its formation, and has the requisite corporate power to own its properties and
to carry on its business as now being conducted. The Company and each of its subsidiaries is duly qualified as a foreign corporation
to do business and is in good standing in every jurisdiction in which the nature of the business conducted by it makes such qualification
necessary, except to the extent that the failure to be so qualified or be in good standing would not have a material adverse effect
on the assets, business, condition (financial or otherwise), results of operations or future prospects of the Company and its
subsidiaries taken as a whole (a “Material Adverse Effect”). The Company has no material subsidiaries.

 

		b.	Authorization, Enforcement,
Compliance with Other Instruments. (i) The Company has the requisite corporate power and authority to enter into and
perform its obligations under this Agreement, the Registration Rights Agreement, the Warrants and each of the other agreements
and documents that are exhibits hereto or thereto or are contemplated hereby or thereby or necessary or desirable to effect the
transactions contemplated hereby or thereby (the “Transaction Documents”) and to issue the Shares and
Warrants, in accordance with the terms hereof and thereof, (ii) the execution and delivery by the Company of each of the Transaction
Documents and the consummation by it of the transactions contemplated hereby and thereby, including, without limitation, the issuance
of the Shares and Warrants, have been, or will be at the time of execution of such Transaction Document, duly authorized by the
Company’s Board of Directors, and no further consent or authorization is, or will be at the time of execution of such Transaction
Document, required by the Company, its respective Board of Directors or its stockholders, (iii) each of the Transaction Documents
will be duly executed and delivered by the Company, (iv) the Transaction Documents when executed will constitute the valid and
binding obligations of the Company enforceable against the Company in accordance with their terms, except as such enforceability
may be limited by general principles of equity or applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or
similar laws relating to, or affecting generally, the enforcement of creditors’ rights and remedies.

 

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		c.	Capitalization.
The authorized capital stock of the Company consists of 41,666,667 Shares of Common Stock and 5,000,000 shares of preferred stock.
As of May 4, 2017, the Company had 8,470,833 Shares of Common
Stock and no preferred stock issued and outstanding. All of the outstanding Shares of Common Stock and of the stock of each of
the Company’s subsidiaries have been duly authorized, validly issued and are fully paid and nonassessable. Except as described
in the reports, schedules, forms, statements and other documents filed with the Securities and Exchange Commission (the “SEC”)
by the Company (“SEC Reports”): (i) no Shares of capital stock of the Company or any of its subsidiaries are (and
the Shares will not be) subject to preemptive rights or any other similar rights or any liens or encumbrances suffered or permitted
by the Company; (ii) there are no outstanding options, warrants, scrip, rights to subscribe to, calls or commitments of any character
whatsoever relating to, or securities or rights convertible into, any shares of capital stock of the Company or any of its subsidiaries,
or contracts, commitments, understandings or arrangements by which the Company or any of its subsidiaries is or may become bound
to issue additional Shares of capital stock of the Company or any of its subsidiaries, (iii) there are no outstanding debt securities
of the Company or its subsidiaries, (iv) there are no agreements or arrangements under which the Company or any of its subsidiaries
is obligated to register the sale of any of their securities under the Securities Act, (v) there are no registration statements
that have been filed but are not yet effective relating to securities of the Company, or any outstanding comment letters from
the SEC or any other regulatory agency; (vi) there are no securities or instruments containing anti-dilution or similar provisions,
including the right to adjust the exercise, exchange or reset price under such securities, that will be triggered by the issuance
of the Units as described in this Agreement; and (vii) no co-sale rights, rights of first refusal or other similar rights exist
with respect to the Units or the issuance and sale thereof. Upon request, the Company will make available to the Subscriber true
and correct copies of the Company’s Articles of Incorporation, and as in effect on the date hereof (the “Articles
of Incorporation”), and the Company’s By-laws, as in effect on the date hereof (the “By-laws”),
and the terms of all securities exercisable for Common Stock and the material rights of the holders thereof in respect thereto.

 

		d.	Issuance of Shares
and Warrant Shares. The Shares and the Common Stock underlying the Investor Warrants and the Placement Agent Warrants (“Warrant
Shares”) are duly authorized and, upon issuance in accordance with the terms hereof and the terms of the Warrants,
as applicable, shall be duly issued, fully paid and nonassessable, and are free from all taxes, liens and charges with respect
to the issue thereof.

 

		e.	No Conflicts.
The execution, delivery and performance of each of the Transaction Documents by the Company, and the consummation by the Company
of the transactions contemplated hereby and thereby will not (i) result in a violation of the Articles of Incorporation or the
By-laws (or equivalent constitutive document) of the Company or any of its subsidiaries or (ii) violate or conflict with, or result
in a breach of any provision of, or constitute a default (or an event which with notice or lapse of time or both would become
a default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture
or instrument to which the Company or any subsidiary is a party, except for those which would not reasonably be expected to have
a Material Adverse Effect, or (iii) result in a material violation of any law, rule, regulation, order, judgment or decree (including
U.S. federal and state securities laws and regulations) applicable to the Company or any subsidiary or by which any property or
asset of the Company or any subsidiary is bound or affected. Neither the Company nor any subsidiary is in violation of any term
of or in default under its Articles of Incorporation or By-laws. Except for those violations or defaults which would not reasonably
be expected to have a Material Adverse Effect, neither the Company nor any subsidiary is in violation of any term of or in default
under any material contract, agreement, mortgage, indebtedness, indenture, instrument, judgment, decree or order or any statute,
rule or regulation applicable to the Company or any subsidiary. The business of the Company and its subsidiaries is not being
conducted, and shall not be conducted in violation of any law, ordinance, or regulation of any governmental entity, except for
any violation which would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect. Except
as specifically contemplated by this Agreement and as required under the Securities Act and any applicable state securities laws,
neither the Company nor any of its subsidiaries is required to obtain any consent, authorization or order of, or make any filing
or registration with, any court or governmental agency in order for it to execute, deliver or perform any of its obligations under
or contemplated by this Agreement or the other Transaction Documents in accordance with the terms hereof or thereof. Neither the
execution and delivery by the Company of the Transaction Documents, nor the consummation by the Company of the transactions contemplated
hereby or thereby, will require any notice, consent or waiver under any contract or instrument to which the Company or any subsidiary
is a party or by which the Company or any subsidiary is bound or to which any of their assets is subject. All consents, authorizations,
orders, filings and registrations which the Company or any of its subsidiaries is required to obtain pursuant to the preceding
two sentences have been or will be obtained or effected on or prior to the Closing. The Company is unaware of any facts or circumstance,
which might give rise to any of the foregoing.

 

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		f.	Absence of Litigation.
Except as described in the SEC Reports, there is no action, suit, claim, inquiry, notice
of violation, proceeding or investigation before or by any court, public board, governmental or administrative agency, self-regulatory
organization or body now pending or, to the knowledge of the Company, threatened, against or affecting the Company or any of its
subsidiaries.

 

		g.	Acknowledgment Regarding
Subscriber’s Purchase of the Units. The Company acknowledges and agrees that each Subscriber is acting solely in the
capacity of an arm’s length purchaser with respect to the Transaction Documents and the transactions contemplated hereby
and thereby.

 

		h.	No General Solicitation.
Neither the Company, nor any of its affiliates, nor, to the knowledge of the Company, any person acting on its or their behalf,
has engaged in any form of general solicitation or general advertising (within the meaning of Regulation D) in connection with
the offer or sale of the Units.

 

		i.	No Integrated Offering.
Neither the Company, nor any of its affiliates, nor to the knowledge of the Company, any person acting on its or their behalf
has, directly or indirectly, made any offers or sales of any security or solicited any offers to buy any security, under circumstances
that would require registration of the Units under the Securities Act or cause this offering of the Units to be integrated with
prior offerings by the Company for purposes of the Securities Act.

 

		j.	Employee Relations.
Neither Company nor any of its subsidiaries is involved in any labor dispute nor, to the knowledge of the Company, is any such
dispute threatened. Neither Company nor any subsidiary is party to any collective bargaining agreement. The Company’s and/or
its subsidiaries’ employees are not members of any union, and the Company believes that its and its subsidiaries’
relationship with their respective employees is good.

 

		k.	Intellectual Property
Rights. Except as described in the SEC Reports, the Company and its subsidiaries own or possess sufficient rights to all patents,
trademarks, domain names (whether or not registered) and any patentable improvements or copyrightable derivative works thereof,
websites and intellectual property rights relating thereto, service marks, trade names, copyrights, licenses and authorizations,
and all rights with respect to the foregoing, which are necessary for the conduct of its business as now conducted without any
conflict with the rights of others except for such conflicts that would not result in a Material Adverse Effect. Neither Company
nor any subsidiary has received any notice of infringement of, or conflict with, the asserted rights of others with respect to
any intellectual property that it utilizes.

 

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		l.	Environmental Laws.

 

(i)          The
Company and each subsidiary has complied with all applicable Environmental Laws (as defined below), except for violations of Environmental
Laws that, individually or in the aggregate, have not had and would not reasonably be expected to have a Material Adverse Effect.
There is no pending or, to the knowledge of the Company, threatened civil or criminal litigation, written notice of violation,
formal administrative proceeding, or investigation, inquiry or information request, relating to any Environmental Law involving
the Company or any subsidiary, except for litigation, notices of violations, formal administrative proceedings or investigations,
inquiries or information requests that, individually or in the aggregate, have not had and would not reasonably be expected to
have a Material Adverse Effect. For purposes of this Agreement, “Environmental Law” means any national, state, provincial
or local law, statute, rule or regulation or the common law relating to the environment or occupational health and safety, including
without limitation any statute, regulation, administrative decision or order pertaining to (i) treatment, storage, disposal, generation
and transportation of industrial, toxic or hazardous materials or substances or solid or hazardous waste; (ii) air, water and noise
pollution; (iii) groundwater and soil contamination; (iv) the release or threatened release into the environment of industrial,
toxic or hazardous materials or substances, or solid or hazardous waste, including without limitation emissions, discharges, injections,
spills, escapes or dumping of pollutants, contaminants or chemicals; (v) the protection of wild life, marine life and wetlands,
including without limitation all endangered and threatened species; (vi) storage tanks, vessels, containers, abandoned or discarded
barrels, and other closed receptacles; (vii) health and safety of employees and other persons; and (viii) manufacturing, processing,
using, distributing, treating, storing, disposing, transporting or handling of materials regulated under any law as pollutants,
contaminants, toxic or hazardous materials or substances or oil or petroleum products or solid or hazardous waste. As used above,
the terms “release” and “environment” shall have the meaning set forth in the Comprehensive Environmental
Response, Compensation and Liability Act of 1980, as amended.

 

(ii)         To
the knowledge of the Company there is no material environmental liability with respect to any solid or hazardous waste transporter
or treatment, storage or disposal facility that has been used by the Company or any subsidiary.

 

(iii)        The
Company and its subsidiaries (i) have received all permits, licenses or other approvals required of them under applicable Environmental
Laws to conduct their respective businesses except to the extent that the failure to have such permits, licenses or other approvals
would not have a Material Adverse Effect and (ii) are in compliance, in all material respects, with all terms and conditions of
any such permit, license or approval.

 

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		m.	Permits; Regulatory
Compliance. The Company and its subsidiaries have all authorizations, approvals, clearances, licenses, permits, certificates
or exemptions (including manufacturing approvals and authorizations, pricing and reimbursement approvals, labeling approvals,
registration notifications or their foreign equivalent) issued by any regulatory authority or governmental agency (collectively,
“Permits”) required to conduct their respective businesses as currently conducted except to the extent
that the failure to have such Permits would not have a Material Adverse Effect. The conduct of business by the Company complies,
and at all times has substantially complied, in all material respects with the Food, Drug and Cosmetic Act of 1938, as amended
and similar federal, state and foreign laws applicable to the evaluation, testing, manufacturing, distribution, advertising and
marketing of each of the Company’s products, in whatever stage of development or commercialization except to the extent
that the failure to so comply would not have a Material Adverse Effect. To the knowledge of the Company, as of the date hereof,
neither the U.S. Food and Drug Administration (the “FDA”) nor any comparable regulatory authority or
governmental agency is considering limiting, suspending or revoking any such Permit or changing the classification or labeling
of the products of the Company or any of its subsidiaries. To the knowledge of the Company, there is no false or misleading information
or material omission in any product application or other submission by the Company or any of its subsidiaries to the FDA or any
comparable regulatory authority or governmental agency. The Company or its subsidiaries have fulfilled and performed in all material
respects their obligations under each Permit, and, as of the date hereof, to the knowledge of the Company, no event has occurred
or condition or state of facts exists which would constitute a breach or default or would cause revocation or termination of any
such Permit except to the extent that such breach, default, revocation or termination would not have a Material Adverse Effect.
To the knowledge of the Company, any third party that is a manufacturer or contractor for the Company or any of its subsidiaries
is in compliance in all material respects with all Permits insofar as they pertain to the manufacture of product components or
products for the Company. The Company and its subsidiaries have not received any notice of adverse finding, warning letter, notice
of violation, notice of action or any other notice from the FDA or other governmental agency alleging or asserting noncompliance
with any applicable laws or Permits. The Company and its subsidiaries have made all notifications, submissions and reports required
by applicable federal, state and foreign laws, except to the extent that the failure to make such notifications, submission or
reports would not have a Material Adverse Effect.

 

		n.	Title. Neither
the Company nor any of its subsidiaries owns any real property. Except as described in the SEC Reports, each of the Company and
its subsidiaries has good and marketable title to all of its personal property and assets, free and clear of any material restriction,
mortgage, deed of trust, pledge, lien, security interest or other charge, claim or encumbrance which would have a Material Adverse
Effect. Except as described in the SEC Reports, with respect to properties and assets it leases, each of the Company and its subsidiaries
is in material compliance with such leases and holds a valid leasehold interest free of any liens, claims or encumbrances which
would have a Material Adverse Effect.

 

		o.	No Material Breaches.
Neither Company nor any subsidiary is in breach of any contract or agreement which breach, in the judgment of the Company’s
officers, has had, or could reasonably be expected to have, a Material Adverse Effect.

 

		p.	Certain Transactions.
Except for arm’s length transactions pursuant to which the Company or any subsidiary makes payments in the ordinary course
of business upon terms no less favorable than it could obtain from third parties, none of the officers, directors, or employees
of the Company or any subsidiary is presently a party to any transaction with the Company or any subsidiary (other than for services
as employees, officers and directors), including any contract, agreement or other arrangement providing for the furnishing of
services to or by, providing for rental of real or personal property to or from, or otherwise requiring payments to or from any
officer, director or such employee or, to the knowledge of the Company, any corporation, partnership, trust or other entity in
which any officer, director, or any such employee has a substantial interest or is an officer, director, trustee or partner.

 

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		q.	Rights of First Refusal.
The Company is not obligated to offer the securities offered hereunder on a right of first refusal basis or otherwise to any third
parties including, but not limited to, current or former stockholders of the Company, underwriters, brokers, agents or other third
parties.

 

		r.	Insurance. The
Company has insurance policies of the type and in amounts customarily carried by organizations conducting businesses or owning
assets similar to those of the Company and its subsidiaries. There is no material claim pending under any such policy as to which
coverage has been questioned, denied or disputed by the underwriter of such policy.

 

		s.	SEC Reports. The
Company has filed all reports, schedules, forms, statements and other documents required to be filed by it with the Securities
and Exchange Commission (the “SEC”) under the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), including pursuant to Section 13(a) or 15(d) thereof (or that it would be required to be filed by it if it
were subject to the reporting requirements of such sections), for the two years preceding the date hereof (or such shorter period
since the Company was first required by law or regulation to file such material).

 

		t.	Brokers’ Fees. The Company does not have any
liability or obligation to pay any fees or commissions to any broker, finder or agent with respect to the transactions contemplated
by this Agreement, except for the payment of fees to any Placement Agent or brokers that have been or may be retained by the Company
as described in Section 3 above.

 

		u.	Disclosure Materials. The Disclosure Materials taken
as a whole do not contain an untrue statement of a material fact or omit to state a material fact necessary to make the statements
therein, in the light of the circumstances under which they were made, not misleading.

 

		v.	Reliance. The Company acknowledges that the Subscriber
is relying on the representations and warranties made by the Company hereunder and that such representations and warranties are
a material inducement to the Subscriber purchasing the Units. The Company further acknowledges that without such representations
and warranties of the Company made hereunder, the Subscribers would not enter into this Agreement.

 

		5.	Representations, Warranties and Agreements of the Subscriber.
The Subscriber represents and warrants to, and agrees with, the Company the following:

 

		a.	The Subscriber has the knowledge and experience in financial
and business matters necessary to evaluate the merits and risks of its prospective investment in the Company, and has carefully
reviewed and understands the risks of, and other considerations relating to, the purchase of Units and the tax consequences of
the investment, and have the ability to bear the economic risks of the investment. The Subscriber can afford the loss of its entire
investment.

 

		b.	The Subscriber is acquiring the Units for investment for
its own account and not with the view to, or for resale in connection with, any distribution thereof. The Subscriber understands
and acknowledges that the Units and the underlying Common Stock have not been registered under the Securities Act or any state
securities laws, by reason of a specific exemption from the registration provisions of the Securities Act and applicable state
securities laws, which depends upon, among other things, the bona fide nature of the investment intent as expressed herein. The
Subscriber further represents that it does not have any contract, undertaking, agreement or arrangement with any person to sell,
transfer or grant participation to any third person with respect to any of the Units. The Subscriber understands and acknowledges
that the offering of the Units pursuant to this Agreement will not be registered under the Securities Act nor under the state
securities laws on the ground that the sale provided for in this Agreement and the issuance of securities hereunder is exempt
from the registration requirements of the Securities Act and any applicable state securities laws.

 

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		c.	The Subscriber is an “accredited investor”
as defined in Rule 501 of Regulation D as promulgated by the SEC under the Securities Act, for the reason(s) specified on the
Accredited Investor Certification attached hereto as completed by Subscriber, and Subscriber shall submit to the
Company such further assurances of such status as may be reasonably requested by the Company. The Subscriber resides in the jurisdiction
set forth on the Subscriber’s Omnibus Signature Page affixed hereto.

 

		d.	The Subscriber (i) if a natural person, represents that
he or she is the greater of (A) 21 years of age or (B) the age of legal majority in his or her jurisdiction of residence, and
has full power and authority to execute and deliver this Agreement and all other related agreements or certificates and to carry
out the provisions hereof and thereof; (ii) if a corporation, partnership, or limited liability company or partnership, or association,
joint stock company, trust, unincorporated organization or other entity, represents that such entity was not formed for the specific
purpose of acquiring the Units, such entity is duly organized, validly existing and in good standing under the laws of the state
or jurisdiction of its organization, the consummation of the transactions contemplated hereby is authorized by, and will not result
in a violation of state law or its charter or other organizational documents, such entity has full power and authority to execute
and deliver this Agreement and all other related agreements or certificates and to carry out the provisions hereof and thereof
and to purchase and hold the Units, the execution and delivery of this Agreement has been duly authorized by all necessary action,
this Agreement has been duly executed and delivered on behalf of such entity and is a legal, valid and binding obligation of such
entity; or (iii) if executing this Agreement in a representative or fiduciary capacity, represents that it has full power and
authority to execute and deliver this Agreement in such capacity and on behalf of the subscribing individual, ward, partnership,
trust, estate, corporation, or limited liability company or partnership, or other entity for whom the Subscriber is executing
this Agreement, and such individual, partnership, ward, trust, estate, corporation, or limited liability company or partnership,
or other entity has full right and power to perform pursuant to this Agreement and make an investment in the Company, and represents
that this Agreement constitutes a legal, valid and binding obligation of such entity. The execution and delivery of this Agreement
will not violate or be in conflict with any order, judgment, injunction, agreement or controlling document to which the Subscriber
is a party or by which it is bound.

 

		e.	The Subscriber understands that the Units are being offered
and sold to it in reliance on specific exemptions from the registration requirements of United States federal and state securities
laws and that the Company is relying in part upon the truth and accuracy of, and such Subscriber’s compliance with, the
representations, warranties, agreements, acknowledgments and understandings of such Subscriber set forth herein in order to determine
the availability of such exemptions and the eligibility of such Subscriber to acquire such securities. The Subscriber further
acknowledges and understands that the Company is relying on the representations and warranties made by the Subscriber hereunder
and that such representations and warranties are a material inducement to the Company to sell the Units to the Subscriber. The
Subscriber further acknowledges that without such representations and warranties of the Subscriber made hereunder, the Company
would not enter into this Agreement with the Subscriber.

 

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		f.	The Subscriber understands that no public market now exists,
and there may never be a public market for, the Investor Warrants, that only a limited public market for the Company’s Common
Stock exists and that there can be no assurance that an active public market for the Common Stock will exist or continue to exist.

 

		g.	The Subscriber has received and reviewed information about
the Company, including the Disclosure Materials, and has had an opportunity to discuss the Company’s business, management
and financial affairs with the Company’s management. The Subscriber understands that such discussions, as well as any Disclosure
Materials provided by the Company, were intended to describe the aspects of the Company’s business and prospects which the
Company believes to be material, but were not necessarily a thorough or exhaustive description, and except as expressly set forth
in this Agreement, the Company makes no representation or warranty with respect to the completeness of such information and makes
no representation or warranty of any kind with respect to any information provided by any entity other than the Company. Some
of such information may include projections as to the future performance of the Company, which projections may not be realized,
may be based on assumptions which may not be correct and may be subject to numerous factors beyond the Company’s control.
Additionally, the Subscriber understands and represents that it is purchasing the Units notwithstanding the fact that the Company
may disclose in the future certain material information the Subscriber has not received, including (without limitation) financial
statements of the Company for the current or prior fiscal periods, and any subsequent period financial statements that will be
filed with the SEC, that it is not relying on any such information in connection with its purchase of the Units and that it waives
any right of action with respect to the nondisclosure to it prior to its purchase of the Units of any such information. Each Subscriber
has sought such accounting, legal and tax advice as it has considered necessary to make an informed investment decision with respect
to its acquisition of the Units.

 

		h.	The Subscriber acknowledges that none of the Company or
any Placement Agent or brokers that may be retained by the Company in connection with the Offering is acting as a financial advisor
or fiduciary of the Subscriber (or in any similar capacity) with respect to the Transaction Documents and the transactions contemplated
hereby and thereby, and no investment advice has been given by the Company or any Placement Agent or brokers that may be retained
by the Company or any of its representatives or agents in connection with the Transaction Documents and the transactions contemplated
hereby and thereby. The Subscriber further represents to the Company that the Subscriber’s decision to enter into the Transaction
Documents has been based solely on the independent evaluation by the Subscriber and its representatives.

 

		i.	As of the Closing, all actions on the part of Subscriber,
and its officers, directors and partners, if applicable, necessary for the authorization, execution and delivery of this Agreement
and the Registration Rights Agreement and the performance of all obligations of the Subscriber hereunder and thereunder shall
have been taken, and this Agreement and the Registration Rights Agreement, assuming due execution by the parties hereto and thereto,
constitute valid and legally binding obligations of the Subscriber, enforceable in accordance with their respective terms, subject
to: (i) judicial principles limiting the availability of specific performance, injunctive relief, and other equitable remedies
and (ii) bankruptcy, insolvency, reorganization, moratorium or other similar laws now or hereafter in effect generally relating
to or affecting creditors’ rights.

 

    	 	 	10

     

    

 

		j.	Subscriber represents that neither it nor, to its knowledge,
any person or entity controlling, controlled by or under common control with it, nor any person having a beneficial interest in
it, nor any person on whose behalf the Subscriber is acting: (i) is a person listed in the Annex to Executive Order No. 13224
(2001) issued by the President of the United States (Executive Order Blocking Property and Prohibiting Transactions with Persons
Who Commit, Threaten to Commit, or Support Terrorism); (ii) is named on the List of Specially Designated Nationals and Blocked
Persons maintained by the U.S. Office of Foreign Assets Control; (iii) is a non-U.S. shell bank or is providing banking services
indirectly to a non-U.S. shell bank; (iv) is a senior non-U.S. political figure or an immediate family member or close associate
of such figure; or (v) is otherwise prohibited from investing in the Company pursuant to applicable U.S. anti-money laundering,
anti-terrorist and asset control laws, regulations, rules or orders (categories (i) through (v), each a “Prohibited
Subscriber”). The Subscriber agrees to provide the Company, promptly upon request, all information that the Company
reasonably deems necessary or appropriate to comply with applicable U.S. anti-money laundering, anti-terrorist and asset control
laws, regulations, rules and orders. The Subscriber consents to the disclosure to U.S. regulators and law enforcement authorities
by the Company and its affiliates and agents of such information about the Subscriber as the Company reasonably deems necessary
or appropriate to comply with applicable U.S. antimony laundering, anti-terrorist and asset control laws, regulations, rules and
orders. If the Subscriber is a financial institution that is subject to the USA Patriot Act, the Subscriber represents that it
has met all of its obligations under the USA Patriot Act. The Subscriber acknowledges that if, following its investment in the
Company, the Company reasonably believes that the Subscriber is a Prohibited Subscriber or is otherwise engaged in suspicious
activity or refuses to promptly provide information that the Company requests, the Company has the right or may be obligated to
prohibit additional investments, segregate the assets constituting the investment in accordance with applicable regulations or
immediately require the Subscriber to transfer the Units. The Subscriber further acknowledges that the Subscriber will have no
claim against the Company or any of its affiliates or agents for any form of damages as a result of any of the foregoing actions.

 

			If the Subscriber is affiliated with a non-U.S. banking institution (a “Foreign Bank”),
or if the Subscriber receives deposits from, makes payments on behalf of, or handles other financial transactions related to a
Foreign Bank, the Subscriber represents and warrants to the Company that: (1) the Foreign Bank has a fixed address, other than
solely an electronic address, in a country in which the Foreign Bank is authorized to conduct banking activities; (2) the Foreign
Bank maintains operating records related to its banking activities; (3) the Foreign Bank is subject to inspection by the banking
authority that licensed the Foreign Bank to conduct banking activities; and (4) the Foreign Bank does not provide banking services
to any other Foreign Bank that does not have a physical presence in any country and that is not a regulated affiliate.

 

		k.	The Subscriber or its duly authorized representative realizes
that because of the inherently speculative nature of businesses of the kind conducted and contemplated by the Company, the Company’s
financial results may be expected to fluctuate from month to month and from period to period and will, generally, involve a high
degree of financial and market risk that could result in substantial or, at times, even total losses for investors in securities
of the Company.

 

		l.	The Subscriber has adequate means of providing for its
current and anticipated financial needs and contingencies, is able to bear the economic risk for an indefinite period of time
and has no need for liquidity of the investment in the Units and could afford complete loss of such investment.

 

    	 	 	11

     

    

 

		m.	The Subscriber is not subscribing for Units as a result
of or subsequent to any advertisement, article, notice or other communication, published in any newspaper, magazine or similar
media or broadcast over television, radio, or the internet, or presented at any seminar or meeting, or any solicitation of a subscription
by a person not previously known to the Subscriber in connection with investments in securities generally.

 

		n.	The Subscriber acknowledges that no U.S. federal or state
agency or any other government or governmental agency has passed upon the Units or made any finding or determination as to the
fairness, suitability or wisdom of any investments therein.

 

		o.	The Subscriber agrees to be bound by all of the terms and
conditions of the Registration Rights Agreement and to perform all obligations thereby imposed upon it.

 

		p.	All of the information that the Subscriber has heretofore
furnished or which is set forth herein is true, correct and complete as of the date of this Agreement, and, if there should be
any material change in such information prior to the admission of the undersigned to the Company, the Subscriber will immediately
furnish revised or corrected information to the Company.

 

		q.	(For ERISA plans only) The fiduciary of the Employee
Retirement Income Security Act of 1974 (“ERISA”) plan (the “Plan”) represents
that such fiduciary has been informed of and understands the Company’s investment objectives, policies and strategies, and
that the decision to invest “plan assets” (as such term is defined in ERISA) in the Company is consistent with the
provisions of ERISA that require diversification of plan assets and impose other fiduciary responsibilities. The Subscriber fiduciary
or Plan (a) is responsible for the decision to invest in the Company; (b) is independent of the Company or any of its affiliates;
(c) is qualified to make such investment decision; and (d) in making such decision, the Subscriber fiduciary or Plan has not relied
primarily on any advice or recommendation of the Company or any of its affiliates.

 

		6.	Transfer Restrictions. The Subscriber acknowledges
and agrees as follows:

 

		a.	The Units have not been registered for sale under the Securities
Act, in reliance on the private offering exemption in Section 4(a)(2) thereof; other than as expressly provide in the Registration
Rights Agreement, the Company does not currently intend to register Common Stock under the Securities Act at any time in the future;
and the undersigned will not immediately be entitled to the benefits of Rule 144 with respect to the Common Stock.

 

		b.	The Subscriber understands that there are substantial restrictions
on the transferability of the Common Stock that the certificates representing the Common Stock shall bear a restrictive legend
in substantially the following form (and a stop-transfer order may be placed against transfer of such certificates or other instruments):

 

    	 	 	12

     

    

 

THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR ANY STATE SECURITIES LAWS, AND NEITHER SUCH SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, PLEDGED,
ASSIGNED OR OTHERWISE TRANSFERRED UNLESS (1) A REGISTRATION STATEMENT WITH RESPECT THERETO IS EFFECTIVE UNDER THE SECURITIES ACT
AND ANY APPLICABLE STATE SECURITIES LAWS, OR (2) AN EXEMPTION FROM SUCH REGISTRATION EXISTS AND THE COMPANY RECEIVES AN OPINION
OF COUNSEL TO THE HOLDER OF SUCH SECURITIES, WHICH COUNSEL AND OPINION ARE SATISFACTORY TO THE COMPANY, THAT SUCH SECURITIES MAY
BE OFFERED, SOLD, PLEDGED, ASSIGNED OR TRANSFERRED IN THE MANNER CONTEMPLATED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT UNDER
THE SECURITIES ACT OR APPLICABLE STATE SECURITIES LAWS. HEDGING
TRANSACTIONS INVOLVING THESE SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE SECURITIES ACT.

 

The legend set
forth above shall be removed and the Company shall issue a certificate without such legend to the holder of the Common Stock upon
which it is stamped, if (a) such Common Stock is sold pursuant to a registration statement under the Securities Act, or (b) such
holder delivers to the Company an opinion of counsel, reasonably acceptable to the Company, that a disposition of the Common Stock
is being made pursuant to an exemption from such registration and that the Common Stock, after such transfer, shall no longer be
“restricted securities” within the meaning of Rule 144.

 

		c.	Certificates evidencing the Shares and Warrant Shares shall
not contain any legend (including the legend set forth in Section 6(b) hereof), (i) while a registration statement (including
the Registration Statement) covering the resale of such security is effective under the Securities Act, (ii) following any sale
of such Shares or Warrant Shares pursuant to Rule 144, (iii) if such Shares or Warrant Shares are eligible for sale under Rule
144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as
to such Shares and Warrant Shares and without volume or manner-of-sale restrictions, or (iv) if such legend is not required under
applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the
Commission). The Company shall cause its counsel to issue a legal opinion to the transfer agent promptly after the Effective Date
if required by the transfer agent to effect the removal of the legend hereunder. If all or any portion of a Warrant is exercised
at a time when there is an effective registration statement to cover the resale of the Warrant Shares, or if such Shares or Warrant
Shares may be sold under Rule 144 and the Company is then in compliance with the current public information required under Rule
144, or if the Shares or Warrant Shares may be sold under Rule 144 without the requirement for the Company to be in compliance
with the current public information required under Rule 144 as to such Shares or Warrant Shares or if such legend is not otherwise
required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by
the staff of the Commission) then such Warrant Shares shall be issued free of all legends. The Company agrees that following the
Effective Date or at such time as such legend is no longer required under this Section 6(c), it will, no later than three Trading
Days (as defined in the Registration Rights Agreement) following the delivery by a Subscriber to the Company or the transfer agent
of a certificate representing Shares or Warrant Shares, as the case may be, issued with a restrictive legend (such third Trading
Day, the “Legend Removal Date”), deliver or cause to be delivered to such Subscriber a certificate representing such
shares that is free from all restrictive and other legends. The Company may not make any notation on its records or give instructions
to the transfer agent that enlarge the restrictions on transfer set forth in this Section 6. Certificates for Securities subject
to legend removal hereunder shall be transmitted by the transfer agent to the Subscriber by crediting the account of the Subscriber’s
prime broker with the Depository Trust Company System as directed by such Subscriber. “Effective Date” means the earliest
of the date that (a) the initial Registration Statement has been declared effective by the Commission, (b) all of the Shares and
Warrant Shares have been sold pursuant to Rule 144 or may be sold pursuant to Rule 144 without the requirement for the Company
to be in compliance with the current public information required under Rule 144 and without volume or manner-of-sale restrictions
or (c) following the one year anniversary of the Closing Date provided that a holder of Shares or Warrant Shares is not an Affiliate
of the Company, all of the Shares and Warrant Shares may be sold pursuant to an exemption from registration under Section 4(1)
of the Securities Act without volume or manner-of-sale restrictions and Company’s legal counsel has delivered to such Subscriber
a standing written unqualified opinion that resales may then be made by such Subscriber of the Shares and Warrant Shares pursuant
to such exemption which opinion shall be in form and substance reasonably acceptable to the Company and the Subscriber for the
purpose described above.

 

    	 	 	13

     

    

 

		d.	In addition to such subscriber’s other available
remedies, the Company shall pay to a Subscriber, in cash, the greater of (i) as partial liquidated damages and not as a penalty,
for each $1,000 of Shares (based on the Weighted Average Price of the Shares on the date such Securities are submitted to the
transfer agent) delivered for removal of the restrictive legend and subject to Section 6(c), $5 per Trading Day (increasing to
$10 per Trading Day five (5) Trading Days after such damages have begun to accrue) for each Trading Day after the Legend Removal
Date until such certificate is delivered without a legend and (ii) if the Company fails to (i) issue and deliver (or cause to
be delivered) to a Subscriber by the Legend Removal Date a certificate representing the Securities so delivered to the Company
by such Subscriber that is free from all restrictive and other legends or (ii) if after the Legend Removal Date such Subscriber
purchases (in an open market transaction or otherwise) Shares to deliver in satisfaction of a sale by such Subscriber of all or
any portion of the number of Shares, or a sale of a number of Shares equal to all or any portion of the number of Shares that
such Subscriber anticipated receiving from the Company without any restrictive legend, then, an amount equal to the excess of
such Subscriber’s total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) for the
Shares so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the “Buy-In Price”)
over the product of (A) such number of Shares that the Company was required to deliver to such Subscriber by the Legend Removal
Date multiplied by (B) the lowest closing sale price of the Shares on any Trading Day during the period commencing on the date
of the delivery by such Subscriber to the Company of the applicable Shares (as the case may be) and ending on the date of such
delivery and payment under this clause (d).

 

		e.	Each Subscriber understands that until July 15, 2002,
the Company was a “shell company” as defined in Rule 12b-2 under the Exchange Act. Pursuant to Rule 144(i), securities
issued by a current or former shell company (that is, the Common Stock) that otherwise meet the holding period and other requirements
of Rule 144 nevertheless cannot be sold in reliance on Rule 144 until one year after the Company (a) is no longer a shell
company; and (b) has filed current “Form 10 information“ (as defined in Rule 144(i)) with the SEC reflecting that
it is no longer a shell company, and provided that at the time of a proposed sale pursuant to Rule 144, the Company is
subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act and has filed all reports and other materials
required to be filed by Section 13 or 15(d) of the Exchange Act, as applicable, during the preceding 12 months (or for such shorter
period that the issuer was required to file such reports and materials), other than Form 8-K reports. As a result, the restrictive
legends on certificates for the Common Stock cannot be removed except in connection with an actual sale meeting the foregoing
requirements or pursuant to an effective registration statement.

 

    	 	 	14

     

    

 

		7.	Indemnification.

 

		a.	The Company agrees to indemnify and hold harmless the Subscriber
from and against all losses, liabilities, claims, damages, costs, fees and expenses whatsoever (including, but not limited to,
any and all expenses incurred in investigating, preparing or defending against any litigation commenced or threatened) based upon
or arising out of the Company’s actual or alleged false acknowledgment, representation or warranty, or misrepresentation
or omission to state a material fact, or breach by the Company of any covenant or agreement made by the Company, contained herein
or in any other any other Disclosure Materials. The liability of the Company under this paragraph shall not exceed the total Purchase
Price paid by the Subscriber hereunder.

 

		b.	Promptly after receipt by an indemnified party under this
Section 7 of notice of the commencement of any action, such indemnified party will, if a claim in respect thereof is to be made
against the indemnifying party under this Section 7, notify the indemnifying party in writing of the commencement thereof; but
the omission so to notify the indemnifying party will not relieve it from any liability which it may have to any indemnified party
otherwise than under this Section 7. In case any such action is brought against any indemnified party, and it notifies the indemnifying
party of the commencement thereof, the indemnifying party will be entitled to participate therein, and to the extent that it may
elect by written notice delivered to the indemnified party promptly after receiving the aforesaid notice from such indemnified
party, to assume the defense thereof, with counsel satisfactory to such indemnified party; provided, however, if the defendants
in any such action include both the indemnified party and the indemnifying party and either (i) the indemnifying party or parties
and the indemnified party or parties mutually agree or (ii) representation of both the indemnifying party or parties and the indemnified
party or parties by the same counsel is inappropriate under applicable standards of professional conduct due to actual or potential
differing interests between them, the indemnified party or parties shall have the right to select separate counsel to assume such
legal defenses and to otherwise participate in the defense of such action on behalf of such indemnified party or parties. Upon
receipt of notice from the indemnifying party to such indemnified party of its election so to assume the defense of such action
and approval by the indemnified party of counsel, the indemnifying party will not be liable to such indemnified party under this
Section 7 for any legal or other expenses subsequently incurred by such indemnified party in connection with the defense thereof
unless (i) the indemnified party shall have employed counsel in connection with the assumption of legal defenses in accordance
with the proviso to the next preceding sentence (it being understood, however, that the indemnifying party shall not be liable
for the expenses of more than one separate counsel in such circumstance), (ii) the indemnifying party shall not have employed
counsel satisfactory to the indemnified party to represent the indemnified party within a reasonable time after notice of commencement
of the action or (iii) the indemnifying party has authorized the employment of counsel for the indemnified party at the expense
of the indemnifying party. No indemnifying party shall (i) without the prior written consent of the indemnified parties (which
consent shall not be unreasonably withheld), settle or compromise or consent to the entry of any judgment with respect to any
pending or threatened claim, action, suit or proceeding in respect of which indemnification or contribution may be sought hereunder
(whether or not the indemnified parties are actual or potential parties to such claim or action) unless such settlement, compromise
or consent includes an unconditional release of each indemnified party from all liability arising out of such claim, action, suit
or proceeding, or (ii) be liable for any settlement of any such action effected without its written consent (which consent shall
not be unreasonably withheld), but if settled with its written consent or if there be a final judgment of the plaintiff in any
such action, the indemnifying party agrees to indemnify and hold harmless any indemnified party from and against any loss or liability
by reason of such settlement or judgment.

 

    	 	 	15

     

    

 

		8.	Revocability; Binding Effect. The subscription hereunder
may be revoked prior to the Closing thereon, provided that written notice of revocation is sent and is received by the Company
or the Placement Agent at least three business days prior to the Closing on such subscription. The Subscriber hereby acknowledges
and agrees that this Agreement shall survive the death or disability of the Subscriber and shall be binding upon and inure to
the benefit of the parties and their heirs, executors, administrators, successors, legal representatives and permitted assigns.
If the Subscriber is more than one person, the obligations of the Subscriber hereunder shall be joint and several and the agreements,
representations, warranties and acknowledgments herein shall be deemed to be made by and be binding upon each such person and
such person’s heirs, executors, administrators, successors, legal representatives and permitted assigns.

 

		9.	Modification. This Agreement shall not be modified
or waived except by an instrument in writing signed by the party against whom any such modification or waiver is sought to be
enforced.

 

		10.	Immaterial Modifications to the Registration Rights
Agreement. The Company may, at any time prior to the Closing, amend the Registration Rights Agreement if necessary to clarify
any provision therein, without first providing notice or obtaining prior consent of the Subscriber.

 

		11.	Notices. Any notice
or other communication required or permitted to be given hereunder shall be in writing and shall be mailed by certified mail,
return receipt requested, or delivered against receipt to the party to whom it is to be given (a) if to the Company, at the address
set forth above, with a copy (which shall not constitute notice) to Shumaker, Loop & Kendrick, LLP, Attention Mark C. Catchur,
Esq., facsimile 813-229-1660, or (b) if to the Subscriber, at the address set forth on the
Omnibus Signature Page hereof (or, in either case, to such other address as the party shall have furnished in writing in accordance
with the provisions of this Section). Any notice or other communication given by certified mail shall be deemed given at the time
of certification thereof, except for a notice changing a party’s address which shall be deemed given at the time of receipt
thereof.

 

		12.	Assignability. This Agreement and the rights, interests
and obligations hereunder are not transferable or assignable by the Subscriber, and the transfer or assignment of the Units shall
be made only in accordance with all applicable laws.

 

		13.	Applicable Law. This Agreement shall be governed
by and construed in accordance with the laws of the State of New York, without reference to the principles thereof relating to
the conflict of laws.

 

		14.	Arbitration. The parties agree to submit all controversies
to arbitration in accordance with the provisions set forth below and understand that:

 

		a.	Arbitration shall be final and binding on the parties.

 

		b.	The parties are waiving their right to seek remedies in
court, including the right to a jury trial.

 

		c.	Pre-arbitration discovery is generally more limited and
different from court proceedings.

 

    	 	 	16

     

    

 

		d.	The arbitrator’s award is not required to include
factual findings or legal reasoning and any party’s right to appeal or to seek modification of rulings by arbitrators is
strictly limited.

 

		e.	The panel of arbitrators will typically include a minority
of arbitrators who were or are affiliated with the securities industry.

 

		f.	All controversies which may arise between the parties concerning
this Agreement shall be determined by arbitration pursuant to the rules then pertaining to the Financial Industry Regulatory Authority
with the arbitration held in the State of New York, New York County. Judgment on any award of any such arbitration may be entered
in the courts of the State of New York sitting in New York County and the United States District Court for the Southern District
of New York sitting in Manhattan, and any state or appellate court therefrom, or in any other court having jurisdiction of the
person or persons against whom such award is rendered. Any notice of such arbitration or for the confirmation of any award in
any arbitration shall be sufficient if given in accordance with the provisions of this Agreement. The parties agree that the determination
of the arbitrators shall be binding and conclusive upon them. The prevailing party, as determined by such arbitrators, in a legal
proceeding shall be entitled to collect any costs, disbursements and reasonable attorney’s fees from the other party. Prior
to filing an arbitration, the parties hereby agree that they will attempt to resolve their differences first by submitting the
matter for resolution to a mediator, acceptable to all parties, and whose expenses will be borne equally by all parties. The mediation
will be held in the County of New York, New York, on an expedited basis. If the parties cannot successfully resolve their differences
through mediation, the matter will be resolved by arbitration as provided above. The arbitration shall take place in the New York,
New York on an expedited basis.

 

		15.	Blue Sky Qualification; Form D. The Company agrees
to timely file a Form D with respect to the Securities and provide a copy thereof, promptly upon request of any Subscriber. The
Company shall take such action as the Company shall reasonably determine is necessary in order to obtain an exemption for, or
to qualify the Securities for, sale to the Subscriber at such Closing under applicable securities or “Blue Sky” laws
of the states of the United States, and shall provide evidence of such actions promptly upon request of any Subscriber.

 

		16.	Use of Pronouns. All pronouns and any variations
thereof used herein shall be deemed to refer to the masculine, feminine, neuter, singular or plural as the identity of the person
or persons referred to may require.

 

		17.	Confidentiality. The Subscriber acknowledges and
agrees that any information or data the Subscriber has acquired from or about the Company or may acquire in the future, not otherwise
properly in the public domain, including, without limitation, the Disclosure Materials, was received in confidence. The Subscriber
agrees not to divulge, communicate or disclose, except as may be required by law or for the performance of this Agreement, or
use to the detriment of the Company or for the benefit of any other person, or misuse in any way, any confidential information
of the Company, including any scientific, technical, trade or business secrets of the Company and any scientific, technical, trade
or business materials that are treated by the Company as confidential or proprietary, including, but not limited to, internal
personnel and financial information of the Company or its affiliates, the manner and methods of conducting the business of the
Company or its affiliates and confidential information obtained by or given to the Company about or belonging to third parties.
The Subscriber understands that the Company may rely on Subscriber’s agreement of confidentiality to comply with the exemptive
provisions of Regulation FD under the Securities Act of 1933 as set forth in Rule 100(a)(b)(2)(ii) of Regulation FD. In addition,
the Subscriber acknowledges that it is aware that the United States securities laws generally prohibit any person who is in possession
of material nonpublic information about a public company such as the Company from purchasing or selling securities of such company.
The provisions of this Section 17 are in addition to and not in replacement of any other confidentiality agreement between the
Company and the Subscriber.

 

    	 	 	17

     

    

 

		18.	Independent Nature of Subscribers’ Obligations
and Rights. The obligations of each Subscriber under this Agreement are several and not joint with the obligations of any
other Subscriber, and no Subscriber shall be responsible in any way for the performance of the obligations of any other Subscriber
under this Agreement. Nothing contained herein and no action taken by any Subscriber pursuant hereto, shall be deemed to constitute
the Subscribers as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the
Subscriber are in any way acting in concert or as a group, or are deemed affiliates (as such term is defined under the Exchange
Act) with respect to such obligations or the transactions contemplated by this Agreement. Each Subscriber shall be entitled to
independently protect and enforce its rights, including without limitation the rights arising out of this Agreement, and it shall
not be necessary for any other Subscriber to be joined as an additional party in any proceeding for such purpose.

 

		19.	Miscellaneous.

 

		a.	This Agreement, together with the Registration Rights Agreement
and any confidentiality agreement between the Subscriber and the Company, constitute the entire agreement between the Subscriber
and the Company with respect to the Offering and supersede all prior oral or written agreements and understandings, if any, relating
to the subject matter hereof. The terms and provisions of this Agreement may be waived, or consent for the departure therefrom
granted, only by a written document executed by the party entitled to the benefits of such terms or provisions.

 

		b.	The representations and warranties of the Company and the
Subscriber made in this Agreement shall survive the execution and delivery hereof and delivery of the Units.

 

		c.	Each of the parties hereto shall pay its own fees and expenses
(including the fees of any attorneys, accountants, appraisers or others engaged by such party) in connection with this Agreement
and the transactions contemplated hereby, whether or not the transactions contemplated hereby are consummated.

 

		d.	This Agreement may be executed in one or more original
or facsimile (including by an e-mail which contains a.pdf file of an executed signature page) counterparts, each of which shall
be deemed an original, but all of which shall together constitute one and the same instrument and which shall be enforceable against
the parties actually executing such counterparts. The exchange of copies of this Agreement and of signature pages by facsimile
transmission or in .pdf format shall constitute effective execution and delivery of this Agreement as to the parties and may be
used in lieu of the original Agreement for all purposes. Signatures of the parties transmitted by facsimile or by e-mail of a
document in pdf format shall be deemed to be their original signatures for all purposes.

 

		e.	Each provision of this Agreement shall be considered separable
and, if for any reason any provision or provisions hereof are determined to be invalid or contrary to applicable law, such invalidity
or illegality shall not impair the operation of or affect the remaining portions of this Agreement.

 

    	 	 	18

     

    

 

		f.	Paragraph titles are for descriptive purposes only and
shall not control or alter the meaning of this Agreement as set forth in the text.

 

		g.	The Subscriber hereby agrees to furnish the Company such
other information as the Company may request prior to the Closing with respect to its subscription hereunder.

 

		20.	Omnibus Signature Page. This Agreement is intended
to be read and construed in conjunction with the Registration Rights Agreement. Accordingly, pursuant to the terms and conditions
of this Agreement and the Registration Rights Agreement, it is hereby agreed that the execution by the Subscriber of this Agreement,
in the place set forth on the Omnibus Signature Page below, shall constitute agreement to be bound by the terms and conditions
hereof and the terms and conditions of the Registration Rights Agreement, with the same effect as if each of such separate but
related agreement were separately signed.

 

		21.	Public Disclosure. Neither the Subscriber nor any
officer, manager, director, member, partner, stockholder, employee, affiliate, affiliated person or entity of the Subscriber shall
make or issue any press releases or otherwise make any public statements or make any disclosures to any third person or entity
with respect to the transactions contemplated herein and will not make or issue any press releases or otherwise make any public
statements of any nature whatsoever with respect to the Company without the Company’s express prior approval. The Company
has the right to withhold such approval in its sole discretion.

 

		22.	Potential Conflicts. Legal counsel to the Company
and the Placement Agent or any brokers that may be retained by the Company in connection with the Offering, and/or their respective
affiliates, principals, representatives or employees, may now or hereafter own stock of the Company or warrants to purchase Company
stock.

 

[Signature page follows.]

 

    	 	 	19

     

    

 

IN WITNESS WHEREOF, the Company has duly executed
this Subscription Agreement as of the __ day of ___________, 2017.

 

	 	TapImmune Inc.
	 	 	 	 
	 	By:	 
	 	 	Name:	Glynn Wilson, Ph.D
	 	 	Title:	Chief Executive Officer

 

    	 	 	20

     

    

 

How to subscribe for Units in
the private offering of

TapImmune Inc.

 

		1.	Date and Fill in the dollar amount of Units
you would like to purchase and complete and sign the Omnibus Signature Page. If you hold warrants of TapImmune issued
in August 2016 private placement with closing dates on August 10, 2016 and August 26, 2016 (each warrant providing for the purchase
of one share of Common Stock) (the “2016 PIPE Warrants”), and you desire to have the exercise price of the 2016 PIPE
Warrants reduced from $6.00 per share to Market Value (that is, the same exercise price as the Warrants being issued in this Offering),
you will also have to fill in the number of 2016 PIPE Warrants held by you and the additional amount payable with respect to such
repricing (equal to the number of 2016 PIPE Warrants held by you multiplied by $0.125) on the Omnibus Signature Page.

 

		2.	Initial the Accredited Investor Certification
in the appropriate place or places.

 

		3.	Complete and sign the Investor Profile.

 

		4.	Complete and sign the Anti-Money Laundering Information
Form.

 

		5.	Date and sign the Confidentiality Agreement.

 

		6.	Fax
or email all the forms specified above and then send all signed
original documents to:

 

Katalyst Securities LLC.

Attn: Jennifer Goro

630 Third Avenue, 5th Floor

New York, NY 10017

Facsimile Number: 212-247-1059

Telephone Number: (212) 400-6993

E-mail address: jag@katalystsecurities.com

 

		7.	If you are paying the Purchase Price by check,
a certified or other bank check for the exact dollar amount of your investment should be made payable to the order of “Delaware
Trust Company, as Escrow Agent for TapImmune Inc. Acct. #79-3001” Insert Subscribers name and should be sent directly
to Delaware Trust Company, 2711 Centerville Road, One Little Falls Centre, Wilmington, DE 19808, Attn: Alan R. Halpern.

 

Checks take up to
five (5) business days to clear. A check must be received by the Escrow Agent at least six (6) business days before the
closing date.

 

		8.	If you are paying the Purchase Price by wire transfer,
you should send a wire transfer for the exact dollar amount of your investment according to the following instructions:

 

	
        Bank:
	
        PNC Bank

        300 Delaware Avenue

        Wilmington, DE 19899

	 	 
	ABA Routing #:	031100089
	SWIFT CODE:	PNCCUS33
	Account Name:	Delaware Trust Company
	Account #:	5605012373
	Reference:	
        “FFC: TapImmune Inc. #2 Acct# 79-3001

        [INSERT SUBSCRIBER’S
        NAME]”

	 	 
	 	
        

        Continued on next page

 

    	 	 	21

     

    

 

		9.	If you hold 2016 PIPE Warrants, and you desire
to have the exercise price of the 2016 PIPE Warrants reduced from $6.00 per share to the Market Value, you will also have to send
an additional amount equal to the number of 2016 PIPE Warrants held by you multiplied by $0.125. Payment of such additional amount
should be made in accordance with the instructions set forth in paragraphs 6 and 7 above. Failure to remit such additional amount
will result in the Subscriber’s 2016 PIPE Warrants continuing to be exercisable at $6.00 per share of common stock.

 

Thank you for your interest,

 

TapImmune Inc.

 

    	 	 	22

     

    

 

TapImmune Inc.

OMNIBUS SIGNATURE PAGE TO

SUBSCRIPTION AGREEMENT AND REGISTRATION RIGHTS
AGREEMENT

 

The undersigned, desiring to: (i) enter into
the Subscription Agreement, dated as of ____________ ___,1 2017 (the “Subscription Agreement”),
between the undersigned, TapImmune Inc., a Nevada corporation (the “Company”),
and the other parties thereto, in or substantially in the form furnished to the undersigned, (ii) enter into the Registration Rights
Agreement (the “Registration Rights Agreement”), among the undersigned, the Company and the other parties thereto,
in or substantially in the form furnished to the undersigned and (iii) purchase the Units of the Company’s securities as
set forth in the Subscription Agreement and below, hereby agrees to purchase such Units from the Company and further agrees to
join the Subscription Agreement and the Registration Rights Agreement as a party thereto, with all the rights and privileges appertaining
thereto, and to be bound in all respects by the terms and conditions thereof. The undersigned specifically acknowledges having
read the representations section in the Subscription Agreement entitled “Representations and Warranties of the Subscriber”
and hereby represents that the statements contained therein are complete and accurate with respect to the undersigned as a Subscriber.

 

By completing the blanks set forth below entitled
“2016 PIPE Warrants Held” and “2016 PIPE Warrant Additional Amount” and remitting an amount equal to such
number of 2016 PIPE Warrants multiplied by $0.125 with the undersigned’s Purchase Price for the Units subscribed for hereunder,
the undersigned indicates the desire of the undersigned to have the exercise price of the 2016 PIPE Warrants held by the undersigned
reduced from $6.00 per share to Market Value (that is, the same exercise price as the Warrants being issued as part of the Units
in this Offering).

 

IN WITNESS WHEREOF, the Subscriber hereby executes
this Subscription Agreement and the Registration Rights Agreement.

 

	Dated: ___________________, 2017	 	$________________________
	 	 	Dollar Amount of Investment in Units

 

2016 PIPE Warrants Held: __________________

 

2016 PIPE Warrant Additional Amount $__________________

 

	SUBSCRIBER (individual)	 	SUBSCRIBER (entity)
	 	 	 
	 	 	 
	Signature	 	Name of Entity
	 	 	 
	 	 	 
	Print Name	 	Signature

 

	 	 	Print Name:	 
	Signature (if Joint Tenants or Tenants in Common)	 	Title:	 

 

	Address of Principal Residence:	 	Address of Executive Offices:
	 	 	 
	 	 	 
	 	 	 

 

	Social Security Number(s): 	 	 	IRS Tax ID Number: 	 
	 	 	 	 	 
	Telephone Number: 	 	 	Telephone Number:	 
	 	 	 	 	 
	Facsimile Number: 	 	 	Facsimile Number:	 
	 	 	 	 	 
	E-mail Address: 	 	 	E-mail Address:	 

 

 

1
Will reflect the date the Subscription Agreement is accepted and executed by TapImmune Inc. Not to be completed by Subscriber.

 

     

     

    

 

TapImmune Inc.

ACCREDITED INVESTOR CERTIFICATION

 

For Individual Investors Only

(all Individual Investors must
INITIAL where appropriate):

 

	Initial _______	I have a net worth of at least US$1 million either individually or through aggregating my individual holdings and those in which I have a joint, community property or other similar shared ownership interest with my spouse. (For purposes of calculating your net worth under this paragraph, (a) your primary residence shall not be included as an asset; (b) indebtedness secured by your primary residence, up to the estimated fair market value of your primary residence at the time of your purchase of the securities, shall not be included as a liability (except that if the amount of such indebtedness outstanding at the time of your purchase of the securities exceeds the amount outstanding 60 days before such time, other than as a result of the acquisition of your primary residence, the amount of such excess shall be included as a liability); and (c) indebtedness that is secured by your primary residence in excess of the estimated fair market value of your primary residence at the time of your purchase of the securities shall be included as a liability.)
	Initial _______	I have had an annual gross income for the past two years of at least US$200,000 (or US$300,000 jointly with my spouse) and expect my income (or joint income, as appropriate) to reach the same level in the current year.
	Initial _______	I am a director or executive officer of TapImmune Inc.

 

For Non-Individual
Investors (Entities)

(all Non-Individual
Investors must INITIAL where appropriate):

 

	Initial _______	The investor certifies that it is a partnership, corporation, limited liability company or business trust that is 100% owned by persons who meet at least one of the criteria for Individual Investors set forth above (in which case each such person must complete the Accreditor Investor Certification for Individuals above as well the remainder of this questionnaire) .
	Initial _______	The investor certifies that it is a partnership, corporation, limited liability company or business trust that has total assets of at least US$5 million and was not formed for the purpose of investing the Company.
	Initial _______	The investor certifies that it is an employee benefit plan whose investment decision is made by a plan fiduciary (as defined in ERISA §3(21)) that is a bank, savings and loan association, insurance company or registered investment advisor.
	Initial _______	The investor certifies that it is an employee benefit plan whose total assets exceed US$5,000,000 as of the date of this Agreement.
	Initial _______	The undersigned certifies that it is a self-directed employee benefit plan whose investment decisions are made solely by persons who meet at least one of the criteria for Individual Investors.
	Initial _______	The investor certifies that it is a U.S. bank, U.S. savings and loan association or other similar U.S. institution acting in its individual or fiduciary capacity.
	Initial _______	The undersigned certifies that it is a broker-dealer registered pursuant to §15 of the Securities Exchange Act of 1934.
	Initial _______	The investor certifies that it is an organization described in §501(c)(3) of the Internal Revenue Code with total assets exceeding US$5,000,000 and not formed for the specific purpose of investing in the Company.
	Initial _______	The investor certifies that it is a trust with total assets of at least US$5,000,000, not formed for the specific purpose of investing in the Company, and whose purchase is directed by a person with such knowledge and experience in financial and business matters that such person is capable of evaluating the merits and risks of the prospective investment.
	Initial _______	The investor certifies that it is a plan established and maintained by a state or its political subdivisions, or any agency or instrumentality thereof, for the benefit of its employees, and which has total assets in excess of US$5,000,000.
	Initial _______	The investor certifies that it is an insurance company as defined in §2(13) of the Securities Act of 1933, or a registered investment company.

 

     

     

    

 

TapImmune Inc.

Investor Profile

(Must be completed by Investor)

 

Section A - Personal
Investor Information

 

	Investor Name(s): 	 

 

	Individual executing Profile or Trustee: 	 

 

	Social Security Numbers / Federal I.D. Number: 	 

 

	Date of Birth:	 	 	Marital Status:	 
	Joint Party Date of Birth:	 	 	Investment Experience (Years):	 
	Annual Income:	 	 	Liquid Net Worth:	 
	 	 	 	 	 
	Net Worth*:	 	 	 	 

 

	Tax Bracket:	_____ 15% or below	_____ 25% - 27.5%	_____ Over 27.5%

 

	Home Street Address:	 

 

	Home City, State & Zip Code:	 

 

	Home Phone:	 	 	Home Fax:	 	 	Home Email:	 

 

	Employer:	 

 

	Employer Street Address:	 

 

	Employer City, State & Zip Code:	 

 

	Bus. Phone:	 	 	Bus. Fax:	 	 	Bus. Email:	 

 

	Type of Business:	 

 

	Outside Broker/Dealer:	 

 

Section B – Certificate Delivery Instructions

 

____ Please deliver certificate to the Employer Address listed in
Section A.

____ Please deliver certificate to the Home Address listed in Section
A.

____ Please deliver certificate to the following address: ________________________________________________ 

 

Section C – Form of Payment

 

____ Check payable to Delaware Trust Company,
as Escrow Agent for TapImmune Inc., Acct #79-3001

 

____ Wire
funds from my outside account according to Section 2(b) of the Subscription Agreement, to Delaware Trust Company, Escrow Agent
for TapImmune Inc. #2 Acct #79-3001.

 

____ The funds for this investment
are rolled over, tax deferred from __________ within the allowed 60 day window.

 

Please check if you are a FINRA member or affiliate
of a FINRA member firm: ____

 

	 	 	 
	Investor Signature	 	Date

 

		*	For purposes of calculating your net worth in this form, (a) your primary residence shall
not be included as an asset; (b) indebtedness secured by your primary residence, up to the estimated fair market value of your
primary residence at the time of your purchase of the securities, shall not be included as a liability (except that if the amount
of such indebtedness outstanding at the time of your purchase of the securities exceeds the amount outstanding 60 days before such
time, other than as a result of the acquisition of your primary residence, the amount of such excess shall be included as a liability);
and (c) indebtedness that is secured by your primary residence in excess of the estimated fair market value of your primary residence
at the time of your purchase of the securities shall be included as a liability. 

 

     

     

    

 

ANTI MONEY LAUNDERING REQUIREMENTS

 

The USA PATRIOT Act

 

The USA PATRIOT Act is designed to detect,
deter, and punish terrorists in the United States and abroad. The Act imposes new anti-money laundering requirements on brokerage
firms and financial institutions. Since April 24, 2002 all brokerage firms have been required to have new, comprehensive anti-money
laundering programs.

 

To help you understand these efforts, we want
to provide you with some information about money laundering and our steps to implement the USA PATRIOT Act.

 

What is money laundering?

 

Money laundering is the process of disguising
illegally obtained money so that the funds appear to come from legitimate sources or activities. Money laundering occurs in connection
with a wide variety of crimes, including illegal arms sales, drug trafficking, robbery, fraud, racketeering, and terrorism.

 

How big is the problem and why is it important?

 

The use of the U.S. financial system by criminals
to facilitate terrorism or other crimes could well taint our financial markets. According to the U.S. State Department, one recent
estimate puts the amount of worldwide money laundering activity at $1 trillion a year.

 

What are we required to do to eliminate
money laundering?

 

Under rules required by the USA PATRIOT Act,
our anti-money laundering program must designate a special compliance officer, set up employee training, conduct independent audits,
and establish policies and procedures to detect and report suspicious transaction and ensure compliance with such laws. As part
of our required program, we may ask you to provide various identification documents or other information. Until you provide the
information or documents we need, we may not be able to effect any transactions for you.

 

     

     

    

 

ANTI-MONEY
LAUNDERING INFORMATION FORM

The following is required in accordance with
the AML provision of the USA PATRIOT ACT.

(Please fill out and return with
requested documentation.)

 

	INVESTOR NAME:	 	 
	 	 	 
	LEGAL ADDRESS:	 	 
	 	 	 
	SSN# or TAX ID# OF INVESTOR:	 	 
	 	 	 
	YEARLY INCOME:	 	 
	 	 	 
	NET WORTH: 	 	  *

 

* For purposes of calculating your net worth
in this form, (a) your primary residence shall not be included as an asset; (b) indebtedness secured by your primary residence,
up to the estimated fair market value of your primary residence at the time of your purchase of the securities, shall not be included
as a liability (except that if the amount of such indebtedness outstanding at the time of your purchase of the securities exceeds
the amount outstanding 60 days before such time, other than as a result of the acquisition of your primary residence, the amount
of such excess shall be included as a liability); and (c) indebtedness that is secured by your primary residence in excess of the
estimated fair market value of your primary residence at the time of your purchase of the securities shall be included as a liability.

 

INVESTMENT
OBJECTIVE(S) (FOR
ALL INVESTORS):  _______________________

 

ADDRESS OF BUSINESS OR OF EMPLOYER:________________________________

 

_______________________________

 

FOR INVESTORS WHO ARE INDIVIDUALS:
AGE:  __________________________

 

FOR INVESTORS WHO ARE INDIVIDUALS:
OCCUPATION: _____________________________________

 

FOR INVESTORS WHO ARE ENTITIES: NATURE
OF BUSINESS: ____________________________________

 

IDENTIFICATION & DOCUMENTATION
AND SOURCE OF FUNDS:

 

		1.	Please submit a copy of non-expired identification for
the authorized signatory(ies) on the investment documents, showing name, date of birth, address and signature. The address
shown on the identification document MUST match the Investor’s address shown on the Investor Signature Page.

 

	Current Driver’s License	or	Valid Passport	or	Identity Card

(Circle one or more)

 

		2.	If the Investor is a corporation, limited liability company,
trust or other type of entity, please submit the following requisite documents: (i) Articles of Incorporation, By-Laws, Certificate
of Formation, Operating Agreement, Trust or other similar documents for the type of entity; and (ii) Corporate Resolution or power
of attorney or other similar document granting authority to signatory(ies) and designating that they are permitted to make the
proposed investment.

 

		3.	Please advise where the funds were derived from to make
the proposed investment:

 

	Investments	Savings	Proceeds of Sale	Other ____________

(Circle one or more)

 

	Signature:	 	 
	 	 	 
	Print Name:	 	 
	 	 	 
	Title (if applicable):	 	 
	 	 	 
	Date:	 	 

 

     

     

    

 

TAPIMMUNE,
INC.

 

CONFIDENTIALITY
AGREEMENT

 

______________, 2017

 

To facilitate the consideration and negotiation
of a possible transaction (the “Transaction”) between TapImmune, Inc. (the “Company”) and
the undersigned potential investor (“Investor”), the Company is furnishing non-public information (the “Confidential
Information”) to Investor. Investor agrees to use the Confidential Information solely for the purpose of evaluating the
Transaction. Investor shall keep the Confidential Information confidential and shall not disclose any of the Confidential Information
to any third person, except to the extent that disclosure of the Confidential Information is made to Investor’s legal counsel
and/or advisor(s) who need to know such information for the sole purpose of assisting Investor in evaluating the Transaction. Investor
hereby agrees to be responsible for any violations hereof by Investor’s legal counsel and/or advisor(s).

 

Except as permitted hereunder, Investor shall
not disclose to any person (a) that the Confidential Information has been made available to Investor, (b) that discussions or negotiations
are taking place concerning the Transaction, (c) any terms, conditions or other facts with respect to the Transaction, including
the status thereof, or (d) the existence of this confidentiality agreement or its terms.

 

Investor hereby acknowledges that it is aware
that the federal and state securities laws prohibit any person who has material, non-public information about a company from purchasing
or selling securities of such a company or from communicating such information to any other person under circumstances in which
it is reasonably foreseeable that such person is likely to purchase or sell such securities. Nothing herein shall preclude disclosure
of the Confidential Information or trading thereon after public disclosure of the Confidential Information is made by the Company.
This Agreement is effective as of the date this Agreement is executed (the “Effective Date”), and the confidentiality
obligations and other restrictions contained herein shall apply to the Confidential Information until the six (6) month anniversary
of the Effective Date.

 

All Confidential Information disclosed shall
be and shall remain the property of the Company, and this agreement shall not be construed as a license or any other grant of any
right whatsoever in connection with the Confidential Information. Promptly after being so requested by the Company, Investor shall
return or destroy (and certify such destruction in writing) all Confidential Information.

 

Accepted and agreed to as of the date first written above:

 

	Investor (individual)	 	Investor
	 	 	 
	 	 	 
	Signature	 	Name of Entity
	 	 	 
	 	 	 
	Print Name	 	Signature
	 	 	 

 

	 	 	Title:	 
	Additional Signature	 		 

 

	 	 	 	 
	Print Name:	 	 	Print Name
	  (if Joint Tenants or Tenants in Common)	 	 

 

     

     

    

 

EXHIBIT A

Form of Registration Rights Agreement

 

     

     

    

 

EXHIBIT B

Form of Investor WarrantExhibit 10.2

 

Registration
Rights Agreement

 

This Registration Rights
Agreement (this “Agreement”) is made and entered into effective as of [_________________],
2017 (the “Effective Date”) between TapImmune Inc. a Nevada corporation (the “Company”),
and the persons who have executed the omnibus or counterpart signature page(s) hereto (each, a “Purchaser” and
collectively, the “Purchasers”), and the persons or entities identified in Schedule 1 hereto holding Placement
Agent Warrants (as defined below) (collectively the “Brokers”).

 

RECITALS:

 

WHEREAS, the
Company has offered and sold in compliance with Rule 506 of Regulation D promulgated under the Securities Act (as defined herein)
to accredited investors in a private placement offering (the “Offering”) Units (“Unit”),
each Unit consisting of (i) one share of the Company’s common stock (the “Common Stock”), par value $0.001
per share (each, a “Share”) and (ii) one warrant to purchase one share of Common Stock (each a “Warrant”),
pursuant to that certain Subscription Agreement entered into by and between the Company and each of the subscribers for the Units
set forth on the signature pages affixed thereto (the “Subscription Agreement”); as well as a warrant (the “Placement
Agent Warrant”) to purchase shares of Common Stock (the “Placement Agent Shares”) issued to the placement
agent (the “Placement Agent”) in the Offering;

 

WHEREAS, the Company
has agreed to enter into a registration rights agreement with each of the Purchasers in the Offering who purchased the Units and
with the Brokers who hold Placement Agent Warrants;

 

Now,
Therefore, in consideration of the mutual promises, representations, warranties, covenants, and conditions set forth herein,
the parties mutually agree as follows:

 

1.           Certain
Definitions. As used in this Agreement, the following terms shall have the following respective meanings:

 

“Allowed Delay”
has the meaning set forth in Section 3(e)(2).

 

“Approved
Market” means the Over-the-Counter Bulletin Board, the OTC Markets, the Pink Sheets, the Nasdaq Stock Market, the New
York Stock Exchange or the NYSE MKT.

 

“Blackout
Period” means, with respect to a registration, a period, in each case commencing on the day immediately after the Company
notifies the Purchasers that they are required, because of the occurrence of an event of the kind described in Section 4(f) hereof,
to suspend offers and sales of Registrable Securities during which the Company, in the good faith judgment of its board of directors,
determines (because of the existence of, or in anticipation of, any acquisition, financing activity, or other transaction involving
the Company, or the unavailability for reasons beyond the Company’s control of any required financial statements, disclosure
of information which is in its best interest not to publicly disclose, or any other event or condition of similar significance
to the Company) that the registration and distribution of the Registrable Securities to be covered by such Registration Statement,
if any, would be seriously detrimental to the Company and its stockholders and ending on the earlier of (1) the date upon which
the material non-public information commencing the Blackout Period is disclosed to the public or ceases to be material and (2)
such time as the Company notifies the selling Holders that the Company will no longer delay such filing of the Registration Statement,
recommence taking steps to make such Registration Statement effective, or allow sales pursuant to such Registration Statement to
resume.

 

    	 	1	 

     

    

 

“Business
Day” means any day of the year, other than a Saturday, Sunday, or other day on which the Commission is required or authorized
to close.

 

“Commission”
means the U. S. Securities and Exchange Commission or any other federal agency at the time administering the Securities Act.

 

“Common Stock”
means the common stock, par value $0.001 per share, of the Company and any and all shares of capital stock or other equity securities
of: (i) the Company which are added to or exchanged or substituted for the Common Stock by reason of the declaration of any stock
dividend or stock split, the issuance of any distribution or the reclassification, readjustment, recapitalization or other such
modification of the capital structure of the Company; and (ii) any other corporation, now or hereafter organized under the laws
of any state or other governmental authority, with which the Company is merged, which results from any consolidation or reorganization
to which the Company is a party, or to which is sold all or substantially all of the shares or assets of the Company, if immediately
after such merger, consolidation, reorganization or sale, the Company or the stockholders of the Company own equity securities
having in the aggregate more than 50% of the total voting power of such other corporation.

 

“Effective
Date” has the meaning given it in the preamble to this Agreement.

 

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

 

“Family Member”
means (a) with respect to any individual, such individual’s spouse, any descendants (whether natural or adopted), any trust
all of the beneficial interests of which are owned by any of such individuals or by any of such individuals together with any organization
described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, the estate of any such individual, and any corporation,
association, partnership or limited liability company all of the equity interests of which are owned by those above described individuals,
trusts or organizations and (b) with respect to any trust, the owners of the beneficial interests of such trust.

 

“Holder”
means each Purchaser or any of such Purchaser’s respective successors and Permitted Assignees who acquire rights in accordance
with this Agreement with respect to any Registrable Securities directly or indirectly from a Purchaser or from any Permitted Assignee.

 

“Initial Registration
Statement” means the initial Registration Statement filed pursuant to this Agreement.

 

“Majority
Holders” means at any time Holders representing a majority of the Registrable Securities.

 

    	 	2	 

     

    

 

“Permitted
Assignee” means (a) with respect to a partnership, its partners or former partners, (b) with respect to a corporation,
its stockholders, (c) with respect to a limited liability company, its members or former members, (d) with respect to an individual
party, any Family Member of such party, (e) an entity that is controlled by, controls, or is under common control with a transferor,
or (f) a party to this Agreement.

 

“Piggyback
Registration” means, in any registration of Common Stock as set forth in Section 3(b), the ability of holders of Registrable
Securities to include Registrable Securities in such registration.

 

“Placement
Agent” has the meaning given it in the recitals of this Agreement.

 

“Placement
Agent Warrant” has the meaning given it in the recitals of this Agreement.

 

The terms “register,”
“registered,” and “registration” refer to a registration effected by preparing and filing
a registration statement in compliance with the Securities Act, and the declaration or ordering of the effectiveness of such registration
statement.

 

“Registrable
Securities” means the Shares and the Registrable Warrant Shares but excluding, subject to Section 3(e), (i) any Registrable
Securities that have been publicly sold or may be sold immediately without registration under the Securities Act either pursuant
to Rule 144 of the Securities Act or otherwise, without any limitations or restrictions; (ii) any Registrable Securities sold by
a person in a transaction pursuant to a registration statement filed under the Securities Act, or (iii) any Registrable Securities
that are at the time subject to an effective registration statement under the Securities Act.

 

“Registrable
Warrant Shares” means (i) the shares of Common Stock issuable upon the exercise of the Warrants, and (ii) the shares
of Common issuable upon the exercise of the Placement Agent Warrants.

 

“Registration
Default Date” means the date that is 90 days after the date the Registration Statement is actually filed with the Commission.

 

“Registration
Event” means the occurrence of any of the following events:

 

(a)          the
Company fails to file with the Commission the Registration Statement on or before the Registration Filing Date;

 

(b)          the
Registration Statement is not declared effective by the Commission on or before the Registration Effectiveness Date;

 

(c)          after
the SEC Effective Date, the Registration Statement ceases for any reason to remain continuously effective or the Holders are otherwise
not permitted to utilize the prospectus therein to resell the Registrable Securities (including a Blackout Period) for a period
of more than twenty (20) consecutive Trading Days;

 

(d)          the
Registrable Securities, if issued, are not listed or included for quotation on an Approved Market, or trading of the Common Stock
is suspended or halted on the Approved Market, which at the time constitutes the principal market for the Common Stock, for more
than three (3) consecutive Trading Days; or

 

    	 	3	 

     

    

 

(e)          the
Company does not comply with the information requirements of Rule 144, so long as such non-compliance prevents the resale of the
Registrable Securities pursuant to such rule.

 

“Registration
Filing Date” means the date that is 90 days after date of the closing of the Offering.

 

“Registration
Statement” means the registration statement that the Company is required to file pursuant to this Agreement to register
the Registrable Securities.

 

“Rule 144”
means Rule 144 promulgated by the Commission under the Securities Act.

 

“Rule 145”
means Rule 145 promulgated by the Commission under the Securities Act.

 

“Rule 415”
means Rule 415 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time,
or any similar rule or regulation hereafter adopted by the SEC having substantially the same purpose and effect as such Rule.

 

“Securities
Act” means the Securities Act of 1933, as amended, or any similar federal statute promulgated in replacement thereof,
and the rules and regulations of the Commission thereunder, all as the same shall be in effect at the time.

 

“SEC Effective
Date” means the date the Registration Statement is declared effective by the Commission.

 

“Subscription
Agreement” has the meaning given it in the recitals of this Agreement.

 

“Trading Day”
means (a) if the Common Stock is listed or quoted on an Approved Market, then any day during which securities are generally eligible
for trading on the Approved Market, or (b) if the Common Stock is not then listed or quoted and traded on an Approved Market, then
any business day.

 

“Units”
has the meaning given it in the recitals of this Agreement.

 

2.           Term.
This Agreement shall continue in full force and effect until the one (1) year anniversary of the SEC Effective Date, unless terminated
sooner hereunder.

 

3.           Registration.

 

(a)          Registration
on Form S-3. Not later than the Registration Filing Date, the Company shall file with the Commission a Registration Statement
on Form S-3, or other applicable form, relating to the resale by the Holders of the Registrable Securities. The Company shall register
for resale all of the Registrable Securities requested to be registered therein by the Holders of the Registrable Securities, which
request shall be made by delivery to the Company with such Holder’s Subscription Agreement for the Units of a completed and
duly executed Selling Securityholder Notice and Questionnaire in the form attached hereto as Annex A. The Company shall use its
commercially reasonably efforts to cause such Registration Statement to be declared effective prior to the Registration Default
Date.

 

    	 	4	 

     

    

 

(b)          Piggyback
Registration. In addition to the Company agreement pursuant to Section 3(a) above, if the Company shall determine to register
for sale for cash any of its Common Stock, for its own account or for the account of others (other than the Holders), other than
(i) a registration relating solely to employee benefit plans or securities issued or issuable to employees, consultants (to the
extent the securities owned or to be owned by such consultants could be registered on Form S-8) or any of their Family Members
(including a registration on Form S-8) or (ii) a registration relating solely to a Securities Act Rule 145 transaction or a registration
on Form S-4 in connection with a merger, acquisition, divestiture, reorganization or similar event, the Company shall promptly
give to the Holders written notice thereof (and in no event shall such notice be given less than 20 calendar days prior to the
filing of such registration statement), and shall, subject to Section 3(c), include as a Piggyback Registration all of the Registrable
Securities specified in a written request delivered by the Holder thereof within 10 calendar days after receipt of such written
notice from the Company together with a completed and duly executed Selling Securityholder Notice and Questionnaire in the form
attached hereto as Annex A. However, the Company may, without the consent of the Holders, withdraw such registration statement
prior to its becoming effective if the Company or such other stockholders have elected to abandon the proposal to register the
securities proposed to be registered thereby.

 

(c)          Underwriting.
If a Piggyback Registration is for a registered public offering that is to be made by an underwriting, the Company shall so advise
the Holders of the Registrable Securities eligible for inclusion in such Registration Statement pursuant to Section 3(b). In that
event, the right of any Holder to Piggyback Registration shall be conditioned upon such Holder’s participation in such underwriting
and the inclusion of such Holder’s Registrable Securities in the underwriting to the extent provided herein. All Holders
proposing to sell any of their Registrable Securities through such underwriting shall (together with the Company and any other
stockholders of the Company selling their securities through such underwriting) enter into an underwriting agreement in customary
form with the underwriter selected for such underwriting by the Company or the selling stockholders, as applicable. Notwithstanding
any other provision of this Section, if the underwriter or the Company determines that marketing factors require a limitation on
the number of shares of Common Stock or the amount of other securities to be underwritten, the underwriter may exclude some or
all Registrable Securities from such registration and underwriting. The Company shall so advise all Holders (except those Holders
who failed to timely elect to include their Registrable Securities through such underwriting or have indicated to the Company their
decision not to do so), and indicate to each such Holder the number of shares of Registrable Securities that may be included in
the registration and underwriting, if any. The number of shares of Registrable Securities to be included in such registration and
underwriting shall be allocated among such Holders as follows:

 

(i)          If
the Piggyback Registration was initiated by the Company, the number of shares that may be included in the registration and underwriting
shall be allocated first to the Company and then, subject to obligations and commitments existing as of the date hereof, to all
selling stockholders, including the Holders, who have requested to sell in the registration on a pro rata basis according to the
number of shares requested to be included therein; and

 

    	 	5	 

     

    

 

(ii)         If
the Piggyback Registration was initiated by the exercise of demand registration rights by a stockholder or stockholders of the
Company (other than the Holders), then the number of shares that may be included in the registration and underwriting shall be
allocated first to such selling stockholders who exercised such demand and then, subject to obligations and commitments existing
as of the date hereof, to all other selling stockholders, including the Holders, who have requested to sell in the registration
on a pro rata basis according to the number of shares requested to be included therein.

 

No Registrable Securities
excluded from the underwriting by reason of the underwriter’s marketing limitation shall be included in such registration
and no liquidated damages as set forth in Section 3(d) shall accrue with respect to such excluded securities. If any Holder disapproves
of the terms of any such underwriting, such Holder may elect to withdraw such Holder’s Registrable Securities therefrom by
delivering a written notice to the Company and the underwriter. The Registrable Securities so withdrawn from such underwriting
shall also be withdrawn from such registration; provided, however, that, if by the withdrawal of such Registrable
Securities, a greater number of Registrable Securities held by other Holders may be included in such registration (up to the maximum
of any limitation imposed by the underwriters), then the Company shall offer to all Holders who have included Registrable Securities
in the registration the right to include additional Registrable Securities pursuant to the terms and limitations set forth herein
in the same proportion used above in determining the underwriter limitation. 

 

(d)          Liquidated
Damages. If a Registration Event occurs, then the Company will make payments to each Holder of Registrable Securities that
has requested to have Registrable Securities included in the Registration Statement, as liquidated damages to such Holder by reason
of the Registration Event, a cash sum calculated at a rate of ten percent (10%) per annum of the aggregate purchase price for
such Registrable Securities pursuant to the Subscription Agreement or upon exercise of Placement Agent Warrants (or in the case
of unexercised Placement Agent Warrants, of the exercise price thereof) with respect to such Holder’s Registrable Securities
that are affected by such Registration Event, for the period during which such Registration Event continues to affect such Registrable
Securities (the “Registration Default Period”). Each payment of liquidated damages pursuant to this Section
3(d) shall be due and payable in arrears within five (5) days after the end of each full 30-day period of the Registration Default
Period until the termination of the Registration Default Period and within five (5) days after such termination. The Registration
Default Period shall terminate upon the earlier of such time as the Registrable Securities that are affected by the Registration
Event cease to be Registrable Securities or (i) the filing of the Registration Statement in the case of clause (a) of the definition
of Registration Event, (ii) the SEC Effective Date in the case of clause (b) of the definition of Registration Event, (iii) the
ability of the Holders to effect sales pursuant to the Registration Statement in the case of clause (c) of the definition of Registration
Event, (iv) the listing or inclusion and/or trading of the Common Stock on an Approved Market, as the case may be, in the case
of clause (d) of the definition of Registration Event and (v) for each Holder, such Holder’s Registrable Securities become
eligible for resale pursuant to Rule 144 in the case of clause (e) of the definition of Registration Event. The amounts payable
as liquidated damages pursuant to this Section 3(d) shall be payable in cash in lawful money of the United States. Notwithstanding
the foregoing, the Company will not be liable for the payment of liquidated damages described in this Section 3(d) for any delay
in registration of Registrable Securities that would otherwise be includable in the Registration Statement solely as a result
of a comment received by the Staff requiring a limit on the number of Registrable Securities included in such Registration Statement
in order for such Registration Statement to be able to avail itself of Rule 415 (a “Cutback Comment”). In the
event of any such Cutback Comment, the Company will use its commercially reasonable efforts at the first opportunity that is permitted
by the Commission to register for resale the Registrable Securities that have been cut back from being registered pursuant to
Cutback Comment only with respect to that portion of the Holders’ Registrable Securities that are then Registrable Securities.

 

    	 	6	 

     

    

 

(e)          Cutbacks:

 

(1)(a) if the Commission
does not declare the Registration Statement effective on or before the Registration Default Date, or (b) if the Commission allows
the Registration Statement to be declared effective at any time before or after the Registration Default Date, subject to the withdrawal
of certain Registrable Securities from the Registration Statement, and the reason for (a) or (b) is the Commission’s determination
that (x) the offering of any of the Registrable Securities constitutes a primary offering of securities by the Company, (y) Rule
415 may not be relied upon for the registration of the resale of any or all of the Registrable Securities, and/or (z) a Holder
of any Registrable Securities must be named as an underwriter, the Holders understand and agree that in the case of (b) the Company
may reduce, on a pro rata basis, the total number of Registrable Securities to be registered on behalf of each such Holder.
In any such pro rata reduction, the number of Registrable Securities to be registered on such Registration Statement will
first be reduced by (i) first, the Registrable Securities represented by the Registrable Warrant Shares (applied, in the case that
some Registrable Warrant Shares may be registered, to the Holders on a pro rata basis based on the total number of unregistered
Registrable Warrant Shares held by such Holders on a fully diluted basis), and (ii) second, Registrable Securities represented
by Shares (applied, in the case that some Shares may be registered, to the Holders on a pro rata basis based on the total
number of unregistered Shares held by such Holders). In addition, any such affected Holder
shall be entitled to Piggyback Registration rights after the Registration Statement is declared effective by the Commission until
such time as: (AA) all Registrable Securities have been registered pursuant to an effective Registration Statement, (BB) the Registrable
Securities may be resold without restriction pursuant to Rule 144 of the Securities Act, or (CC) the Holder agrees to be named
as an underwriter in any such registration statement. The Holders acknowledge and agree the provisions of this paragraph may apply
to more than one Registration Statement; and

 

    	 	7	 

     

    

 

(2)          For
not more than twenty (20) consecutive days or for a total of not more than forty-five (45) days in any twelve (12) month period,
the Company may suspend the use of any prospectus included in any Registration Statement contemplated by this Section in the event
that the Company determines in good faith that such suspension is necessary to (A) delay the disclosure of material non-public
information concerning the Company, the disclosure of which at the time is not, in the good faith opinion of the Company, in the
best interests of the Company or (B) amend or supplement the affected Registration Statement or the related prospectus so that
such Registration Statement or prospectus shall not include an untrue statement of a material fact or omit to state a material
fact required to be stated therein or necessary to make the statements therein, in the case of the prospectus in light of the circumstances
under which they were made, not misleading, including in connection with the filing of a post-effective amendment to such Registration
Statement in connection with the Company’s filing of an Annual Report on Form 10-K for any fiscal year (an “Allowed
Delay”); provided, that the Company shall promptly (a) notify each Holder in writing of the commencement of an Allowed
Delay, but shall not (without the prior written consent of an Holder) disclose to such Holder any material non-public information
giving rise to an Allowed Delay, (b) advise the Holders in writing to cease all sales under the Registration Statement until the
end of the Allowed Delay and (c) use commercially reasonable efforts to terminate an Allowed Delay as promptly as practicable.

 

4.           Registration
Procedures for Registrable Securities. The Company will keep each Holder included as a selling stockholder in the Registration
Statement reasonably advised as to the filing and effectiveness of the Registration Statement. At its expense with respect to the
Registration Statement, the Company will:

 

(a)          prepare
and file with the Commission with respect to the Registrable Securities, a Registration Statement on Form S-3, or any other form
for which the Company then qualifies or which counsel for the Company shall deem appropriate and which form shall be available
for the sale of the Registrable Securities in accordance with the intended methods of distribution thereof, and use its commercially
reasonable efforts to cause such Registration Statement to become effective and shall remain effective for a period of one year
or for such shorter period ending on the earlier to occur of (i) the date as of which all of the Holders as selling stockholders
thereunder may sell all of the Registrable Securities registered for resale thereon without restriction pursuant to Rule 144 (or
any successor rule thereto) promulgated under the Securities Act or (ii) the date when all of the Registrable Securities registered
thereunder shall have been sold (the “Effectiveness Period”). Thereafter, the Company shall be entitled
to withdraw such Registration Statement and the Purchasers shall have no further right to offer or sell any of the Registrable
Securities registered for resale thereon pursuant to the respective Registration Statement (or any prospectus relating thereto);

 

(b)          if
the Registration Statement is subject to review by the Commission, respond in a commercially reasonable manner to all comments
and diligently pursue resolution of any comments to the satisfaction of the Commission;

 

(c)          prepare
and file with the Commission such amendments and supplements to such Registration Statement as may be necessary to keep such Registration
Statement effective during the Effectiveness Period;

 

(d)          furnish,
without charge, to each Holder of Registrable Securities covered by such Registration Statement (i) a reasonable number of copies
of such Registration Statement (including any exhibits thereto other than exhibits incorporated by reference), each amendment and
supplement thereto as such Holder may reasonably request, (ii) such number of copies of the prospectus included in such Registration
Statement (including each preliminary prospectus and any other prospectus filed under Rule 424 of the Securities Act) as such Holders
may reasonably request, in conformity with the requirements of the Securities Act, and (iii) such other documents as such Holder
may require to consummate the disposition of the Registrable Securities owned by such Holder, but only during the Effectiveness
Period;

 

    	 	8	 

     

    

 

(e)          use
its commercially reasonable efforts to register or qualify such registration under such other applicable securities laws of such
jurisdictions as any Holder of Registrable Securities covered by such Registration Statement reasonably requests and as may be
necessary for the marketability of the Registrable Securities (such request to be made by the time the applicable Registration
Statement is deemed effective by the Commission) and do any and all other acts and things necessary to enable such Holder to consummate
the disposition in such jurisdictions of the Registrable Securities owned by such Holder; provided, that the Company shall
not be required to (i) qualify generally to do business in any jurisdiction where it would not otherwise be required to qualify
but for this paragraph, (ii) subject itself to taxation in any such jurisdiction, or (iii) consent to general service of process
in any such jurisdiction.

 

(f)          notify
each Holder of Registrable Securities, the disposition of which requires delivery of a prospectus relating thereto under the Securities
Act, of the happening of any event (as promptly as practicable after becoming aware of such event), which comes to the Company’s
attention, that will after the occurrence of such event cause the prospectus included in such Registration Statement, if not amended
or supplemented, to contain an untrue statement of a material fact or an omission to state a material fact required to be stated
therein or necessary to make the statements therein not misleading and the Company shall promptly thereafter prepare and furnish
to such Holder a supplement or amendment to such prospectus (or prepare and file appropriate reports under the Exchange Act) so
that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not contain an untrue statement
of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein
not misleading, unless suspension of the use of such prospectus otherwise is authorized herein or in the event of a Blackout Period,
in which case no supplement or amendment need be furnished (or Exchange Act filing made) until the termination of such suspension
or Blackout Period;

 

(g)          comply,
and continue to comply during the Effectiveness Period, in all material respects with the Securities Act and the Exchange Act and
with all applicable rules and regulations of the Commission with respect to the disposition of all securities covered by such Registration
Statement;

 

(h)          as
promptly as practicable after becoming aware of such event, notify each Holder of Registrable Securities being offered or sold
pursuant to the Registration Statement of the issuance by the Commission of any stop order or other suspension of effectiveness
of the Registration Statement;

 

(i)          use
its commercially reasonable efforts to cause all the Registrable Securities covered by the Registration Statement to be quoted
on the OTC Bulletin Board or such other Approved Market on which securities of the same class or series issued by the Company are
then listed or traded;

 

    	 	9	 

     

    

 

(j)          provide
a transfer agent and registrar, which may be a single entity, for the shares of Common Stock at all times;

 

(k)          if
requested by the Holders, cooperate with the Holders to facilitate the timely preparation and delivery of certificates representing
Registrable Securities to be delivered to a transferee pursuant to the Registration Statement, which certificates shall be free,
to the extent permitted by applicable law, of all restrictive legends, and to enable such Registrable Securities to be in such
denominations and registered in such names as any such Holders may request;

 

(l)          during
the Effectiveness Period, refrain from bidding for or purchasing any Common Stock or any right to purchase Common Stock or attempting
to induce any person to purchase any such security or right if such bid, purchase or attempt would in any way limit the right of
the Holders to sell Registrable Securities by reason of the limitations set forth in Regulation M of the Exchange Act; and

 

(m)          take
all other reasonable actions necessary to expedite and facilitate the disposition by the Holders of the Registrable Securities
pursuant to the Registration Statement.

 

5.           Suspension
of Offers and Sales. Each Holder agrees that, upon receipt of any notice from the Company of the happening of any event of
the kind described in Section 4(f) hereof or of the commencement of a Blackout Period, such Holder shall discontinue the disposition
of Registrable Securities included in the Registration Statement until such Holder’s receipt of the copies of the supplemented
or amended prospectus contemplated by Section 4(f) hereof or notice of the end of the Blackout Period, and, if so directed by the
Company, such Holder shall deliver to the Company (at the Company’s expense) all copies (including, without limitation, any
and all drafts), other than permanent file copies, then in such Holder’s possession, of the prospectus covering such Registrable
Securities current at the time of receipt of such notice.

 

6.           Registration
Expenses. The Company shall pay all expenses in connection with any registration obligation provided herein, including, without
limitation, all registration, filing, stock exchange fees, printing expenses, all fees and expenses of complying with applicable
securities laws, and the fees and disbursements of counsel for the Company and of its independent accountants; provided,
that, in any registration, each party shall pay for its own underwriting discounts and commissions and transfer taxes. Except as
provided in this Section and Section 9, the Company shall not be responsible for the expenses of any attorney or other advisor
employed by a Holder.

 

7.           Assignment
of Rights. No Holder may assign its rights under this Agreement to any party without the prior written consent of the Company;
provided, however, that any Holder may assign its rights under this Agreement without such consent to a Permitted
Assignee as long as (a) such transfer or assignment is effected in accordance with applicable securities laws; (b) such transferee
or assignee agrees in writing to become subject to the terms of this Agreement; and (c) such Holder notifies the Company in writing
of such transfer or assignment, stating the name and address of the transferee or assignee and identifying the Registrable Securities
with respect to which such rights are being transferred or assigned.

 

    	 	10	 

     

    

 

8.           Information
by Holder. A Holder of Registrable Securities included in any registration shall furnish to the Company such information regarding
itself, the Registrable Securities held by it, and the intended method of disposition of such securities as shall be required in
order to comply with any applicable law or regulation in connection with the registration of such Holder’s Registrable Securities
or any qualification or compliance with respect to such Holder’s Registrable Securities and referred to in this Agreement.

 

9.           Indemnification.

 

(a)          In
the event of the offer and sale of Registrable Securities under the Securities Act, the Company shall, and hereby does, indemnify
and hold harmless, to the fullest extent permitted by law, each Holder, its directors, officers, partners, each other person who
participates as an underwriter in the offering or sale of such securities, and each other person, if any, who controls or is under
common control with such Holder or any such underwriter within the meaning of Section 15 of the Securities Act, against any losses,
claims, damages or liabilities, joint or several, and expenses to which the Holder or any such director, officer, partner or underwriter
or controlling person may become subject under the Securities Act, the Exchange Act, or any other federal or state law, insofar
as such losses, claims, damages, liabilities or expenses (or actions or proceedings, whether commenced or threatened, in respect
thereof) arise out of or are based upon any untrue statement of any material fact contained in any registration statement prepared
and filed by the Company under which Registrable Securities were registered under the Securities Act, any preliminary prospectus,
final prospectus or summary prospectus contained therein, or any amendment or supplement thereto, or any omission to state therein
a material fact required to be stated or necessary to make the statements therein in light of the circumstances in which they were
made not misleading, or any violation or alleged violation of the Securities Act, the Exchange Act, any state securities law or
any rule or regulation promulgated under the Securities Act, the Exchange Act or any state securities law in connection with this
Agreement; and the Company shall reimburse the Holder, and each such director, officer, partner, underwriter and controlling person
for any legal or any other expenses reasonably incurred by them in connection with investigating, defending or settling any such
loss, claim, damage, liability, action or proceeding; provided, that such indemnity agreement found in this Section 9(a)
shall in no event exceed the net proceeds from the Offering received by the Company; and provided further, that the Company
shall not be liable in any such case to the extent that any such loss, claim, damage, liability (or action or proceeding in respect
thereof) or expense arises out of or is based upon an untrue statement in or omission from such registration statement, any such
preliminary prospectus, final prospectus, summary prospectus, amendment or supplement in reliance upon and in conformity with written
information furnished to the Company by the Holder specifically for use in the preparation thereof. Such indemnity shall remain
in full force and effect regardless of any investigation made by or on behalf of the Holders, or any such director, officer, partner,
underwriter or controlling person and shall survive the transfer of such shares by the Holder.

 

    	 	11	 

     

    

 

(b)          As
a condition to including Registrable Securities in any registration statement filed pursuant to this Agreement, each Holder agrees
to be bound by the terms of this Section 9 and to indemnify and hold harmless, to the fullest extent permitted by law, the Company,
its directors and officers, and each other person, if any, who controls the Company within the meaning of Section 15 of the Securities
Act, against any losses, claims, damages or liabilities, joint or several, to which the Company or any such director or officer
or controlling person may become subject under the Securities Act, the Exchange Act, or any other federal or state law, to the
extent arising out of or based solely upon: any untrue or alleged untrue statement of a material fact contained in any registration
statement, any prospectus, or any form of prospectus, or in any amendment or supplement thereto or in any preliminary prospectus,
or arising out of or relating to any omission or alleged omission of a material fact required to be stated therein or necessary
to make the statements therein not misleading (i) to the extent, but only to the extent, that such untrue statement or omission
is contained in any information so furnished in writing by such Holder to the Company specifically for inclusion in the registration
statement or such prospectus or (ii) to the extent that (1) such untrue statements or omissions are based solely upon information
regarding such Holder furnished in writing to the Company by such Holder expressly for use therein, or to the extent that such
information relates to such Holder or such Holder’s proposed method of distribution of Registrable Securities and was reviewed
and expressly approved in writing by such Holder expressly for use in the Registration Statement, such prospectus or such form
of prospectus or in any amendment or supplement thereto or (2) in the case of an occurrence of an event of the type specified in
Section 4(f) hereof, the use by such Holder of an outdated or defective prospectus after the Company has notified such Holder in
writing that the prospectus is outdated or defective and prior to the receipt by such Holder of the advice contemplated in Section
4(f). In no event shall the liability of any selling Holder hereunder be greater in amount than the dollar amount of the net proceeds
received by such Holder upon the sale of the Registrable Securities giving rise to such indemnification obligation.

 

(c)          Promptly
after receipt by an indemnified party of notice of the commencement of any action or proceeding involving a claim referred to in
this Section (including any governmental action), such indemnified party shall, if a claim in respect thereof is to be made against
an indemnifying party, give written notice to the indemnifying party of the commencement of such action; provided, that
the failure of any indemnified party to give notice as provided herein shall not relieve the indemnifying party of its obligations
under this Section, except to the extent that the indemnifying party is actually prejudiced by such failure to give notice. In
case any such action is brought against an indemnified party, unless in the reasonable judgment of counsel to such indemnified
party a conflict of interest between such indemnified and indemnifying parties may exist or the indemnified party may have defenses
not available to the indemnifying party in respect of such claim, the indemnifying party shall be entitled to participate in and
to assume the defense thereof, with counsel reasonably satisfactory to such indemnified party and, after notice from the indemnifying
party to such indemnified party of its election so to assume the defense thereof, the indemnifying party shall not be liable to
such indemnified party for any legal or other expenses subsequently incurred by the latter in connection with the defense thereof,
unless in such indemnified party’s reasonable judgment a conflict of interest between such indemnified and indemnifying parties
arises in respect of such claim after the assumption of the defenses thereof or the indemnifying party fails to defend such claim
in a diligent manner, other than reasonable costs of investigation. Neither an indemnified nor an indemnifying party shall be liable
for any settlement of any action or proceeding effected without its consent. No indemnifying party shall, without the consent of
the indemnified party, consent to entry of any judgment or enter into any settlement, which does not include as an unconditional
term thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect of such
claim or litigation. Notwithstanding anything to the contrary set forth herein, and without limiting any of the rights set forth
above, in any event any party shall have the right to retain, at its own expense, counsel with respect to the defense of a claim.

 

    	 	12	 

     

    

 

(d)          If
the indemnification provided for in Section 9(a) or 9(b) is held by a court of competent jurisdiction to be unavailable to an indemnified
party with respect to any loss, liability, claim, damage or expense referred to herein, the indemnifying party, in lieu of indemnifying
such indemnified party hereunder, shall (i) contribute to the amount paid or payable by such indemnified party as a result of such
loss, liability, claim, damage or expense as is appropriate to reflect the proportionate relative fault of the indemnifying party
on the one hand and the indemnified party on the other (determined by reference to, among other things, whether the untrue or alleged
untrue statement of a material fact or omission relates to information supplied by the indemnifying party or the indemnified party
and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such untrue statement
or omission), or (ii) if the allocation provided by clause (i) above is not permitted by applicable law or provides a lesser sum
to the indemnified party than the amount hereinafter calculated, not only the proportionate relative fault of the indemnifying
party and the indemnified party, but also the relative benefits received by the indemnifying party on the one hand and the indemnified
party on the other, as well as any other relevant equitable considerations. No indemnified party guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any indemnifying party who was
not guilty of such fraudulent misrepresentation.

 

(e)          Other
Indemnification. Indemnification similar to that specified in this Section (with appropriate modifications) shall be given
by the Company and each Holder of Registrable Securities with respect to any required registration or other qualification of securities
under any federal or state law or regulation or governmental authority other than the Securities Act.

 

10.         Rule
144. With a view to making available to the Holders the benefits of Rule 144 and any other rule or regulation of the Commission
that may at any time permit the Holders to sell the Registrable Securities to the public without registration, the Company agrees:
(i) to make and keep public information available as those terms are understood in Rule 144, (ii) to file with the Commission in
a timely manner all reports and other documents required to be filed by an issuer of securities registered under the Securities
Act or the Exchange Act pursuant to Rule 144, (iii) as long as any Holder owns any Registrable Securities, to furnish in writing
upon such Holder’s request a written statement by the Company that it has complied with the reporting requirements of Rule
144 and of the Securities Act and the Exchange Act, and to furnish to such Holder a copy of the most recent annual or quarterly
report of the Company, and such other reports and documents so filed by the Company as may be reasonably requested in availing
such Holder of any rule or regulation of the Commission permitting the selling of any such Registrable Securities without registration
and (iv) undertake any additional actions commercially reasonably necessary to maintain the availability of the use of Rule 144.

 

    	 	13	 

     

    

 

11.         Independent
Nature of Each Purchaser’s Obligations and Rights. The obligations of each Purchaser under this Agreement are several
and not joint with the obligations of any other Purchaser, and each Purchaser shall not be responsible in any way for the performance
of the obligations of any other Purchaser under this Agreement. Nothing contained herein and no action taken by any Purchaser pursuant
hereto, shall be deemed to constitute such Purchasers as a partnership, an association, a joint venture, or any other kind of entity,
or create a presumption that the Purchasers are in any way acting in concert or as a group with respect to such obligations or
the transactions contemplated by this Agreement. Each Purchaser shall be entitled to independently protect and enforce its rights,
including without limitation the rights arising out of this Agreement, and it shall not be necessary for any other Purchaser to
be joined as an additional party in any proceeding for such purpose.

 

12.         Other
Registration Rights. The Company shall not grant any additional registration rights other than those contemplated herein without
the consent of the Majority Holders prior to the effectiveness of the Registration Statement other than, in the case of the Company
(i) a registration relating solely to employee benefit plans or securities issued or issuable to employees, consultants (to the
extent the securities owned or to be owned by such consultants could be registered on Form S-8) or any of their Family Members
(including a registration on Form S-8) or (ii) a registration on Form S-4 or Form F-4 in connection with a merger, acquisition,
divestiture, reorganization or similar event.

 

13.         Miscellaneous.

 

(a)          Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the United States of America and the
State of New York, both substantive and remedial, without regard to New York conflicts of law principles. Any judicial proceeding
brought against either of the parties to this Agreement or any dispute arising out of this Agreement or any matter related hereto
shall be brought in the courts of the State of New York, New York County, or in the United States District Court for the Southern
District of New York and, by its execution and delivery of this Agreement, each party to this Agreement accepts the jurisdiction
of such courts. The foregoing consent to jurisdiction shall not be deemed to confer rights on any person other than the parties
to this Agreement.

 

(b)          Remedies.
In the event of a breach by the Company or by a Holder of any of their respective obligations under this Agreement, each Holder
or the Company, as the case may be, in addition to being entitled to exercise all rights granted by law and under this Agreement,
including recovery of damages, shall be entitled to specific performance of its rights under this Agreement. The Company and each
Holder agree that monetary damages would not provide adequate compensation for any losses incurred by reason of a breach by it
of any of the provisions of this Agreement and hereby further agrees that, in the event of any action for specific performance
in respect of such breach, it shall not assert or shall waive the defense that a remedy at law would be adequate.

 

(c)          Successors
and Assigns. Except as otherwise provided herein, the provisions hereof shall inure to the benefit of, and be binding upon,
the successors, Permitted Assignees, executors and administrators of the parties hereto.

 

(d)          No
Inconsistent Agreements. The Company has not entered, as of the date hereof, and shall not enter, on or after the date of this
Agreement, into any agreement with respect to its securities that would have the effect of impairing the rights granted to the
Holders in this Agreement or otherwise conflicts with the provisions hereof.

 

    	 	14	 

     

    

 

(e)          Entire
Agreement. This Agreement constitutes the full and entire understanding and agreement between the parties with regard to the
subjects hereof.

 

(f)          Notices,
etc. All notices or other communications which are required or permitted under this Agreement shall be in writing and sufficient
if delivered by hand, by facsimile transmission, by registered or certified mail, postage pre-paid, by electronic mail, or by courier
or overnight carrier, to the persons at the addresses set forth below (or at such other address as may be provided hereunder),
and shall be deemed to have been delivered as of the date so delivered:

 

If to the Company to:

 

TapImmune Inc.

50 North Laura Street

Suite 2500

Jacksonville, FL 32202

Attn: Mr. Glynn Wilson, Ph.D

E-mail: gwilson@tapimmune.com

 

with copy to:

 

Shumaker, Loop & Kendrick, LLP

101 E. Kennedy Blvd.

Suite 2800

Tampa, FL 33602

Attn: Mark A. Catchur, Esq.

E-mail: mcatchur@slk-law.com

 

If to the Purchasers:

 

To each Purchaser at the address set forth
on the signature page hereto or at such other address as any party shall have furnished to the other parties in writing.

 

(g)          Delays
or Omissions. No delay or omission to exercise any right, power or remedy accruing to any Holder, upon any breach or default
of the Company under this Agreement, shall impair any such right, power or remedy of such Holder nor shall it be construed to be
a waiver of any such breach or default, or an acquiescence therein, or of any similar breach or default thereunder occurring; nor
shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring.
Any waiver, permit, consent or approval of any kind or character on the part of any Holder of any breach or default under this
Agreement, or any waiver on the part of any Holder of any provisions or conditions of this Agreement, must be in writing and shall
be effective only to the extent specifically set forth in such writing. All remedies, either under this Agreement, or by law or
otherwise afforded to any holder, shall be cumulative and not alternative.

 

    	 	15	 

     

    

 

(h)          Counterparts.
This Agreement may be executed in any number of counterparts, each of which shall be enforceable against the parties actually executing
such counterparts, and all of which together shall constitute one instrument. In the event that any signature is delivered by facsimile
transmission or electronic transmission via .PDF file, such signature shall create a valid and binding obligation of the party
executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or electronic signature
page were an original thereof.

 

(i)          Severability.
In the case any provision of this Agreement shall be invalid, illegal or unenforceable, the validity, legality and enforceability
of the remaining provisions shall not in any way be affected or impaired thereby.

 

(j)          Amendments.
The provisions of this Agreement may be amended at any time and from time to time, and particular provisions of this Agreement
may be waived, with and only with an agreement or consent in writing signed by the Company and the Majority Holders. The Purchasers
acknowledge that by the operation of this Section, the Majority Holders may have the right and power to diminish or eliminate all
rights of the Purchasers under this Agreement.

 

[SIGNATURE PAGES FOLLOW]

 

    	 	16	 

     

    

 

This Registration Rights
Agreement is hereby executed as of the date first above written.

 

	 	COMPANY:
	 	 
	 	TapImmune Inc.
	 	 
	 	By:  	
	 	Name:	Glynn Wilson, Ph.D 
	 	Title:	CEO

 

EACH PURCHASER’S
SIGNATURE TO THE OMNIBUS SIGNATURE PAGE TO THE SUBSCRIPTION AGREEMENT DATED OF EVEN DATE HEREWITH SHALL CONSTITUTE THE PURCHASER’S
SIGNATURE TO THIS REGISTRATION RIGHTS AGREEMENT.

 

    	 	17

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