Document:

Exhibit 4.2

   

  FORM OF SECURITIES PURCHASE AGREEMENT

   

  This Securities Purchase Agreement (this “Agreement”) is dated as of                  , between United Maritime
    Corporation, a company incorporated under the laws of the Republic of the Marshall Islands (the “Company”), and each purchaser identified on the signature pages hereto (each, including its successors and assigns, a “Purchaser” and
    collectively the “Purchasers”).

   

  WHEREAS, subject to the terms and conditions set forth in this Agreement and pursuant to an effective registration statement under the Securities
    Act (as defined below), the Company desires to issue and sell to each Purchaser, and each Purchaser, severally and not jointly, desires to purchase from the Company, securities of the Company as more fully described in this Agreement.

   

  NOW, THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Agreement, and for other good and valuable consideration the receipt
    and adequacy of which are hereby acknowledged, the Company and each Purchaser agree as follows:

   

  ARTICLE I.

    DEFINITIONS

   

  1.1                          Definitions. In addition to the terms defined elsewhere in this Agreement, for all purposes of this Agreement,
    the following terms have the meanings set forth in this Section 1.1:

   

  “Acquiring Person” shall have the meaning ascribed to such term in Section 4.5.

   

  “Action” shall have the meaning ascribed to such term in Section 3.1(j).

   

  “Affiliate” means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is
    under common control with a Person as such terms are used in and construed under Rule 405 under the Securities Act.

   

  “Board of Directors” means the board of directors of the Company.

   

  “Business Day” means any day other than Saturday, Sunday or other day on which commercial banks in The City of New York are
    authorized or required by law to remain closed; provided, however, for clarification, commercial banks shall not be deemed to be authorized or required by law to remain closed due to “stay at home”, “shelter-in-place”, “non-essential
    employee”  or any other similar orders or restrictions or the closure of any physical branch locations at the direction of any governmental authority so long as the electronic funds transfer systems (including for wire transfers) of commercial banks in
    The City of New York are generally open for use by customers on such day.

   

  “Closing” means the closing of the purchase and sale of the Securities pursuant to Section 2.1.

   

  
  
    	 	 	 

  

  
     

  

  
   

  “Closing Date” means the Trading Day on which all of the Transaction Documents have been executed and delivered by the applicable
    parties thereto, and all conditions precedent to (i) the Purchasers’ obligations to pay the Subscription Amount and (ii) the Company’s obligations to deliver the Securities, in each case, have been satisfied or waived, but in no event later than the
    second (2nd) Trading Day following the date hereof.

   

  “Commission” means the United States Securities and Exchange Commission.

   

  “Common Shares” means the common shares of the Company, par value $0.0001 per share, and any other class of securities into which
    such securities may hereafter be reclassified or changed.

   

  “Common Share Equivalents” means any securities of the Company or the Subsidiaries which would entitle the holder thereof to
    acquire at any time Common Shares, including, without limitation, any debt, preferred shares, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof
    to receive, Common Shares.

   

  “Common Units” means each Common Unit consisting of (a) one Share and (b) a Common Warrant to purchase one Common Warrant Share.

   

  “Common Unit Purchase Price” equals $3.25 per each Common Unit, subject to adjustment for reverse and forward stock splits, stock
    dividends, stock combinations and other similar transactions of the Common Shares that occur after the date of this Agreement.

   

  “Common Unit Subscription Amount” means, as to each Purchaser, the aggregate amount to be paid for the Common Units hereunder as
    specified below such Purchaser’s name on the signature page of this Agreement and next to the heading “Common Unit Subscription Amount,” in United States dollars and in immediately available funds.

   

  “Common Warrants” means, collectively, the Class A Common Share purchase warrants delivered to the Purchasers at the Closing in
    accordance with Section 2.2(a) hereof, which Warrants shall be exercisable immediately and have a term of exercise equal to five (5) years, in the form of Exhibit A attached hereto.

   

  “Common Warrant Shares” means the Common Shares issuable upon exercise of the Common Warrants.

   

  “Company Counsel” means Watson Farley & Williams LLP, with offices located at 250 West 55th Street, 31st Floor, New York, New York 10019.

   

  “Disclosure Time” means, (i) if this Agreement is signed on a day that is not a Trading Day or after 9:00 a.m. (New York City
    time) and before midnight (New York City time) on any Trading Day, 9:01 a.m. (New York City time) on the Trading Day immediately following the date hereof, unless otherwise instructed as to an earlier time by the Placement Agent, and (ii) if this
    Agreement is signed between midnight (New York City time) and 9:00 a.m. (New York City time) on any Trading Day, no later than 9:01 a.m. (New York City time) on the date hereof, unless otherwise instructed as to an earlier time by the Placement Agent.

   

  

  
  
    	 	 	 

  

  
     

  

  
   

  “Evaluation Date” shall have the meaning ascribed to such term in Section 3.1(s).

   

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

   

  “FCPA” means the Foreign Corrupt Practices Act of 1977, as amended.

   

  “GAAP” shall have the meaning ascribed to such term in Section 3.1(h).

   

  “Indebtedness” shall have the meaning ascribed to such term in Section 3.1(aa).

   

  “Intellectual Property Rights” shall have the meaning ascribed to such term in Section 3.1(p).

   

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

   

  “Material Adverse Effect” shall have the meaning assigned to such term in Section 3.1(b).

   

  “Material Permits” shall have the meaning ascribed to such term in Section 3.1(n).

   

  “Person” means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture,
    limited liability company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

   

  “Placement Agent” means Maxim Group LLC.

   

  “Placement Agent Counsel” means Ellenoff Grossman & Schole LLP, with offices located at 1345 Avenue of the Americas, New
    York, New York 10105-0302.

   

  “Prefunded Units” means each Prefunded Unit consisting of (a) one Prefunded Warrant to purchase one Prefunded Warrant Share and
    (b) a Common Warrant to purchase one Common Warrant Share.

   

  “Prefunded Unit Purchase Price” equals $3.2499 per each Prefunded Unit, subject to adjustment for reverse and forward stock
    splits, stock dividends, stock combinations and other similar transactions of the Common Shares that occur after the date of this Agreement.

   

  “Prefunded Unit Subscription Amount” means, as to each Purchaser, the aggregate amount to be paid for the Prefunded Units
    purchased hereunder as specified below such Purchaser’s name on the signature page of this Agreement and next to the heading “Prefunded Unit Subscription Amount,” in United States dollars and in immediately available funds.

   

  “Prefunded Warrant” means, collectively, the Prefunded Common Share purchase warrants delivered to the Purchasers at the Closing
    in accordance with Section 2.2(a) hereof, which Prefunded Warrants shall be exercisable immediately and shall expire when exercised in full, in the form of Exhibit B attached hereto.

   

  

  
  
    	 	 	 

  

  
     

  

  
   

  “Prefunded Warrant Shares” means the Common Shares issuable upon exercise of the Prefunded Warrants.

   

  “Preliminary Prospectus” means any preliminary prospectus included in the Registration Statement, as originally filed or as part
    of any amendment thereto, or filed with the Commission pursuant to Rule 424(a) of the rules and regulations of the Commission under the Securities Act.

   

  “Pricing Prospectus” means (i) the Preliminary Prospectus relating to the Securities that was included in the Registration
    Statement immediately prior to 9:15 a.m. (New York City time) on the date hereof and (ii) any free writing prospectus (as defined in the Securities Act) identified on Schedule A hereto, taken together.

   

  “Proceeding” means an action, claim, suit, investigation or proceeding (including, without limitation, an informal investigation
    or partial proceeding, such as a deposition), whether commenced or threatened.

   

  “Prospectus” means the final prospectus filed for the Registration Statement.

   

  “Purchaser Party” shall have the meaning ascribed to such term in Section 4.8.

   

  “Registration Statement” means the effective registration statement with Commission File No. 333-266099 which registers the sale
    of the Shares, the Warrants and the Warrant Shares to the Purchasers, and includes any Rule 462(b) Registration Statement.

   

  “Required Approvals” shall have the meaning ascribed to such term in Section 3.1(e).

   

  “Rule 144” means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or
    interpreted from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose and effect as such Rule.

   

  “Rule 424” means Rule 424 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or
    interpreted from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose and effect as such Rule.

   

  “Rule 462(b) Registration Statement” means any registration statement prepared by the Company registering additional Securities,
    which was filed with the Commission on or prior to the date hereof and became automatically effective pursuant to Rule 462(b) promulgated by the Commission pursuant to the Securities Act.

   

  “SEC Reports” shall have the meaning ascribed to such term in Section 3.1(h).

   

  
  
    	 	 	 

  

  
     

  

  
  

   

  “Securities” means the Units, Shares, the Warrants and the Warrant Shares.

   

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

   

  “Shares” means the Common Shares issued or issuable to each Purchaser pursuant to this Agreement.

   

  “Short Sales” means all “short sales” as defined in Rule 200 of Regulation SHO under the Exchange Act (but shall not be deemed to
    include locating and/or borrowing Common Shares). 

   

  “Subscription Amount” means, as to each Purchaser, the Common Unit Subscription Amount and/or the Prefunded Unit Subscription
    Amount, as applicable, in accordance with Section 2.1 herein.

   

  “Subsidiary” means any subsidiary of the Company as disclosed in the SEC Reports, and shall, where applicable, also include any
    direct or indirect subsidiary of the Company formed or acquired after the date hereof.

   

  “Trading Day” means a day on which the principal Trading Market is open for trading.

   

  “Trading Market” means any of the following markets or exchanges on which the Common Shares are listed or quoted for trading on
    the date in question: the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, or the New York Stock Exchange (or any successors to any of the foregoing).

   

  “Transaction Documents” means this Agreement, the Warrant Agency Agreement, the Warrants, all exhibits and schedules thereto and
    hereto and any other documents or agreements executed in connection with the transactions contemplated hereunder.

   

  “Transfer Agent” means American Stock Transfer & Trust Company, LLC, the current transfer agent of the Company with a mailing
    address of 6201 15th Avenue, Brooklyn, New York 11219 and an email address of reorg_warrants@astfinancial.com, and any successor transfer agent of the Company.

   

  “Units” means, collectively, the Common Units and the Prefunded Units.

   

  “Warrant Agency Agreement” means the warrant agency agreement dated on or about the Closing Date, between the Company and the
    Transfer Agent.

   

  “Warrants” means, collectively, the Common Warrants and the Prefunded Warrants.

   

  “Warrant Shares” means the Common Shares issuable upon exercise of the Common Warrants and the Prefunded Warrants.

   

  
  
    	 	 	 

  

  
     

  

  
  

   

  ARTICLE II.

    PURCHASE AND SALE

   

  2.1       Closing. On the Closing Date, upon the terms and subject to the conditions set forth herein, substantially concurrent with the
    execution and delivery of this Agreement by the parties hereto, the Company agrees to sell, and the Purchasers, severally and not jointly, agree to purchase, up to an aggregate of $4,875,000 of Common Units as determined pursuant to Section 2.2(a); provided,
    however, that, to the extent that a Purchaser determines, in its sole discretion, that such Purchaser (together with such Purchaser’s Affiliates, and any Person acting as a group together with such purchaser or any of such Purchaser’s
    Affiliates) would beneficially own in excess of the Beneficial Ownership Limitation, or as such Purchaser may otherwise choose, in lieu of purchasing Common Units such Purchaser may elect to purchase Prefunded Units at the Prefunded Unit Purchase Price
    in lieu of Common Units. The “Beneficial Ownership Limitation” shall be 4.99% (or, at the election of the Purchaser at Closing, 9.99%) of the number of Common Shares outstanding immediately after giving effect to the issuance of the Securities
    on the Closing Date. The determination pursuant to the provisions of the previous sentences of whether any Purchaser’s beneficial ownership exceeds the Beneficial Ownership Limitation shall be in the sole discretion of such Purchaser and the Company
    shall have no obligation to verify or confirm the accuracy of such determination. Unless otherwise directed by the Placement Agent, each Purchaser’s Subscription Amount as set forth on the signature page hereto executed by such Purchaser shall be made
    available for “Delivery Versus Payment” settlement with the Company or its designee. The Company shall deliver to each Purchaser its respective Shares and Common Warrants and/or Prefunded Warrants and Common Warrants (as applicable to such Purchaser)
    as determined pursuant to Section 2.2(a), and the Company and each Purchaser shall deliver the other items set forth in Section 2.2 deliverable at the Closing. Upon satisfaction of the covenants and conditions set forth in Sections 2.2 and 2.3, the
    Closing shall occur at the offices of the Placement Agent Counsel or such other location as the parties shall mutually agree. Each Purchaser acknowledges that, concurrently with the Closing and pursuant to the Prospectus, the Company may sell up to
    $26,000,000 of additional Units to purchasers not party to this Agreement, less the aggregate Subscription Amount pursuant to this Agreement, and will issue to such purchasers such Common Shares and Common Warrants and/or Prefunded Warrants and Common
    Warrants in the same form and at the same Common Unit Purchase Price or Prefunded Unit Purchase Price. Unless otherwise directed by the Placement Agent, settlement of the Shares shall occur via “Delivery Versus Payment” (“DVP”) (i.e., on the
    Closing Date, the Company shall issue the Shares registered in the Purchasers’ names and addresses and released by the Transfer Agent directly to the account(s) at the Placement Agent identified by each Purchaser; upon receipt of such Shares, the
    Placement Agent shall promptly electronically deliver such Shares to the applicable Purchaser, and payment therefor shall be made by the Placement Agent (or its clearing firm) by wire transfer to the Company). Notwithstanding anything to the contrary
    herein and a Purchaser’s Subscription Amount set forth on the signature pages attached hereto, the number of Shares purchased by a Purchaser (and its Affiliates) hereunder shall not, when aggregated with all other Common Shares owned by such Purchaser
    (and its Affiliates) at such time, result in such Purchaser beneficially owning (as determined in accordance with Section 13(d) of the Exchange Act) in excess of 9.99% of the then issued and outstanding Common Shares outstanding at the Closing (the “Beneficial

      Ownership Maximum”), and such Purchaser’s Subscription Amount, to the extent it would otherwise exceed the Beneficial Ownership Maximum immediately prior to the Closing, shall be conditioned upon the issuance of Shares at the Closing to the other
    Purchasers signatory hereto. To the extent that a Purchaser’s beneficial ownership of the Shares would otherwise be deemed to exceed the Beneficial Ownership Maximum, such Purchaser’s Subscription Amount shall automatically be reduced as necessary in
    order to comply with this paragraph. Notwithstanding the foregoing, with respect to any Notice(s) of Exercise (as defined in the Prefunded Warrants) delivered on or prior to 12:00 p.m. (New York City time) on the Closing Date, which may be delivered at
    any time after the time of execution of the this Agreement, the Company agrees to deliver the Prefunded Warrant Shares subject to such notice(s) by 4:00 p.m. (New York City time) on the Closing Date and the Closing Date shall be the Warrant Share
    Delivery Date (as defined in the Prefunded Warrants) for purposes hereunder.

   

  
  
    	 	 	 

  

  
     

  

  
   

  

  2.2                          Deliveries.

   

  (a)          On or prior to the Closing Date (except as indicated below), the Company shall deliver or cause to be delivered to each
    Purchaser the following:

   

  (i)       this Agreement duly executed by the Company;

   

  (ii)       a legal opinion of Company Counsel, substantially in the form and substance reasonably acceptable to the Placement Agent;

   

  (iii)       subject to the sixth sentence of Section 2.1, the Company shall have provided each Purchaser with the Company’s wire
    instructions, on Company letterhead and executed by the Chief Executive Officer and Chief Financial Officer;

   

  (iv)       subject to the sixth sentence of Section 2.1, a copy of the irrevocable instructions to the Transfer Agent instructing the
    Transfer Agent to deliver on an expedited basis via The Depository Trust Company Deposit or Withdrawal at Custodian system (“DWAC”) Shares equal to such Purchaser’s Common Unit Subscription Amount divided by the Common Unit Purchase Price,
    registered in the name of such Purchaser;

   

  (v)       a Common Warrant registered in the name of such Purchaser to purchase up to a number of Common Shares equal to 100% of such
    Purchaser’s Shares plus the Prefunded Warrant Shares underlying such Purchaser’s Prefunded Warrants on the date hereof, with an exercise price equal to $3.25, subject to adjustment therein, via The Depository Trust Company Deposit or Withdrawal at
    Custodian system;

   

  (vi)       for each Purchaser of Prefunded Warrants pursuant to Section 2.1, a Prefunded Warrant registered in the name of such Purchaser
    to purchase up to a number of Common Shares as set forth in the Prefunded Warrant, with an exercise price equal to $0.0001, subject to adjustment therein via The Depository Trust Company Deposit or Withdrawal at Custodian system; and

   

  (vii)       the Preliminary Prospectus and Prospectus (which may be delivered in accordance with Rule 172 under the Securities Act).

   

  
  
    	 	 	 

  

  
     

  

  
  

   

  (b)       On or prior to the Closing Date, each Purchaser shall deliver or cause to be delivered to the Company the following:

   

  (i)       this Agreement duly executed by such Purchaser; and

   

  (ii)       such Purchaser’s Subscription Amount, which shall be made available for “Delivery Versus Payment” settlement with the Company
    or its designee.

   

  2.3       Closing Conditions.

   

  (a)       The obligations of the Company hereunder in connection with the Closing are subject to the following conditions being met:

   

  (i)       the accuracy in all material respects (or, to the extent representations or warranties are qualified by materiality, in all
    respects) on the Closing Date of the representations and warranties of the Purchasers contained herein (unless as of a specific date therein in which case they shall be accurate in all material respects (or, to the extent representations or warranties
    are qualified by materiality, in all respects) as of such date);

   

  (ii)       all obligations, covenants and agreements of each Purchaser required to be performed at or prior to the Closing Date shall have
    been performed; and

   

  (iii)       the delivery by each Purchaser of the items set forth in Section 2.2(b) of this Agreement.

   

  (b)       The respective obligations of the Purchasers hereunder in connection with the Closing are subject to the following conditions being met:

   

  (i)       the accuracy in all material respects (or, to the extent representations or warranties are qualified by materiality or Material
    Adverse Effect, in all respects) when made and on the Closing Date of the representations and warranties of the Company contained herein (unless as of a specific date therein in which case they shall be accurate in all material respects or, to the
    extent representations or warranties are qualified by materiality or Material Adverse Effect, in all respects) as of such date);

   

  (ii)       all obligations, covenants and agreements of the Company required to be performed at or prior to the Closing Date shall have
    been performed;

   

  (iii)       the delivery by the Company of the items set forth in Section 2.2(a) of this Agreement;

   

  (iv)       there shall have been no Material Adverse Effect with respect to the Company since the date hereof; and

   

  
  
    	 	 	 

  

  
     

  

  
  

    

   

  (v)       from the date hereof to the Closing Date, trading in the Common Shares shall not have been suspended by the Commission or the
    Company’s principal Trading Market, and, at any time prior to the Closing Date, trading in securities generally as reported by Bloomberg L.P. shall not have been suspended or limited, or minimum prices shall not have been established on securities
    whose trades are reported by such service, or on any Trading Market, nor shall a banking moratorium have been declared either by the United States or New York State authorities nor shall there have occurred any material outbreak or escalation of
    hostilities or other national or international calamity of such magnitude in its effect on, or any material adverse change in, any financial market which, in each case, in the reasonable judgment of such Purchaser, makes it impracticable or inadvisable
    to purchase the Securities at the Closing.

   

  ARTICLE III.

    REPRESENTATIONS AND WARRANTIES

   

  3.1       Representations and Warranties of the Company. The Company hereby makes the following representations and warranties to each
    Purchaser:

   

  (a)       Subsidiaries. The Company owns, directly or indirectly, all of the capital stock or other equity interests of each
    Subsidiary free and clear of any Liens (except for those arising under any credit facility as is disclosed in the Registration Statement, the Preliminary Prospectus and the Prospectus or any related Security Agreement or Pledge Agreement). All of the
    issued and outstanding shares of capital stock of each Subsidiary are validly issued and are fully paid, non-assessable and free of preemptive and similar rights to subscribe for or purchase securities.

   

  (b)       Organization and Qualification. The Company and each of the Subsidiaries is an entity duly incorporated or otherwise organized,
    validly existing and in good standing under the laws of the jurisdiction of its incorporation or organization, with the requisite power and authority to own and use its properties and assets and to carry on its business as currently conducted. Neither
    the Company nor any Subsidiary is in violation nor default of any of the provisions of its respective certificate or articles of incorporation, bylaws or other organizational or charter documents. Each of the Company and the Subsidiaries is duly
    qualified to conduct business and is in good standing as a foreign corporation or other entity in each jurisdiction in which the nature of the business conducted or property owned by it makes such qualification necessary, except where the failure to be
    so qualified or in good standing, as the case may be, could not reasonably be expected to result in: (i) a material adverse effect on the legality, validity or enforceability of any Transaction Document, (ii) a material adverse effect on the results of
    operations, assets, business, prospects or condition (financial or otherwise) of the Company and the Subsidiaries, taken as a whole, or (iii) a material adverse effect on the Company’s ability to perform in any material respect on a timely basis its
    obligations under any Transaction Document (any of (i), (ii) or (iii), a “Material Adverse Effect”) and no Proceeding has been instituted in any such jurisdiction revoking, limiting or curtailing or seeking to revoke, limit or curtail such power
    and authority or qualification.

   

  
  
    	 	 	 

  

  
     

  

  
   

  

  (c)       Authorization; Enforcement. The Company has the requisite corporate power and authority to enter into and to consummate the
    transactions contemplated by this Agreement and each of the other Transaction Documents to which it is a party and otherwise to carry out its obligations hereunder and thereunder. The execution and delivery of this Agreement and each of the other
    Transaction Documents by the Company and the consummation by it of the transactions contemplated hereby and thereby have been duly authorized by all necessary action on the part of the Company and no further action is required by the Company, the Board
    of Directors or the Company’s shareholders in connection herewith or therewith other than in connection with the Required Approvals. This Agreement and each other Transaction Document to which the Company is a party has been (or upon delivery will have
    been) duly executed by the Company and, when delivered in accordance with the terms hereof and thereof, will constitute the valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except (i) as limited
    by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating to the availability of
    specific performance, injunctive relief or other equitable remedies and (iii) insofar as indemnification and contribution provisions may be limited by Applicable Law.

   

  (d)       No Conflicts. The execution, delivery and performance by the Company of this Agreement and the other Transaction Documents to which
    it is a party, the issuance and sale of the Securities and the consummation by it of the transactions contemplated hereby and thereby do not and will not (i) conflict with or violate any provision of the Company’s or any Subsidiary’s certificate or
    articles of incorporation, bylaws or other organizational or charter documents, or (ii) conflict with, or constitute a default (or an event that with notice or lapse of time or both would become a default) under, result in the creation of any Lien upon
    any of the properties or assets of the Company or any Subsidiary, or give to others any rights of termination, amendment, anti-dilution or similar adjustments (except as disclosed in the SEC Reports), acceleration or cancellation (with or without
    notice, lapse of time or both) of, any agreement, credit facility, debt or other instrument (evidencing a Company or Subsidiary debt or otherwise) or other understanding to which the Company or any Subsidiary is a party or by which any property or
    asset of the Company or any Subsidiary is bound or affected, or (iii) subject to the Required Approvals, conflict with or result in a violation of any Applicable Law or other restriction of any court or Governmental Authority to which the Company or a
    Subsidiary is subject (including federal and state securities laws and regulations), or by which any property or asset of the Company or a Subsidiary is bound or affected; except in the case of each of clauses (ii) and (iii), such as could not
    reasonably be expected to result in a Material Adverse Effect.

   

  (e)       Filings, Consents and Approvals. The Company is not required to obtain any consent, waiver, authorization or order of, give any
    notice to, or make any filing or registration with, any court or other federal, state, local or other Governmental Authority or other Person in connection with the execution, delivery and performance by the Company of the Transaction Documents, other
    than: (i) the filings required pursuant to Section 4.4 of this Agreement, (ii) the filing with the Commission of the Prospectus, (iii) application(s) to each applicable Trading Market for the listing of the Shares and Warrant Shares for trading thereon
    in the time and manner required thereby, and (iv) such filings as are required to be made under applicable state securities laws (collectively, the “Required Approvals”).

   

  
  
    	 	 	 

  

  
     

  

  
   

  

  (f)       Issuance of the Securities; Registration. The Securities are duly authorized and, when issued and paid for in accordance with the
    applicable Transaction Documents, will be duly and validly issued, fully paid and nonassessable, free and clear of all Liens imposed by the Company. The Warrant Shares are duly authorized and, when issued in accordance with the terms of the Warrants,
    will be validly issued, fully paid and nonassessable, free and clear of all Liens imposed by the Company. The Company has reserved from its duly authorized capital stock the maximum number of Common Shares issuable pursuant to this Agreement and the
    Warrants. The Securities are not and will not be subject to the preemptive rights of any holders of any security of the Company or similar contractual rights granted by the Company. All corporate action required to be taken for the authorization,
    issuance and sale of the Securities has been duly and validly taken. The Securities conform in all material respects to all statements with respect thereto contained in the Registration Statement and the Prospectus. The Company has prepared and filed
    the Registration Statement in conformity with the requirements of the Securities Act, which became effective on July 18, 2022 (the “Effective Date”), including the Prospectus, and such amendments and supplements thereto as may have been required
    to the date of this Agreement. The Registration Statement is effective under the Securities Act and no stop order preventing or suspending the effectiveness of the Registration Statement or suspending or preventing the use of the Preliminary Prospectus
    or the Prospectus has been issued by the Commission and no proceedings for that purpose have been instituted or, to the knowledge of the Company, are threatened by the Commission. The Company, if required by the rules and regulations of the Commission,
    shall file the Prospectus with the Commission pursuant to Rule 424(b). At the time the Registration Statement and any amendments thereto became effective, at the date of this Agreement and at the Closing Date, the Registration Statement and any
    amendments thereto conformed and will conform in all material respects to the requirements of the Securities Act and did not and will not contain any 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; and the Pricing Prospectus and the Prospectus and any amendments or supplements thereto, at the time the Pricing Prospectus or the Prospectus, as applicable, or any amendment or supplement
    thereto was issued and at the Closing Date, conformed and will conform in all material respects to the requirements of the Securities Act and did not and will not contain an untrue statement of a material fact or omit to state a material fact necessary
    in order to make the statements therein, in the light of the circumstances under which they were made, not misleading.

   

  (g)       Capitalization. The capitalization of the Company is as disclosed in the SEC reports as of the date thereof. The Company has not
    issued any capital stock except as disclosed or contemplated in the SEC Reports. No Person has any right of first refusal, preemptive right, right of participation, or any similar right to participate in the transactions contemplated by the Transaction
    Documents. Except as a result of the purchase and sale of the Securities and as disclosed in the SEC Reports, there are no outstanding options, warrants, scrip rights to subscribe to, calls or commitments of any character whatsoever relating to, or
    securities, rights or obligations convertible into or exercisable or exchangeable for, or giving any Person any right to subscribe for or acquire, any Common Shares or the capital stock of any Subsidiary, or contracts, commitments, understandings or
    arrangements by which the Company or any Subsidiary is or may become bound to issue additional Common Shares or Common Share Equivalents or capital stock of any Subsidiary. The issuance and sale of the Securities will not obligate the Company or any
    Subsidiary to issue Common Shares or other securities to any Person (other than the Purchasers). Except as disclosed in the SEC Reports, there are no outstanding securities or instruments of the Company or any Subsidiary with any provision that adjusts
    the exercise, conversion, exchange or reset price of such security or instrument upon an issuance of securities by the Company or any Subsidiary. Except disclosed in the SEC Reports, there are no outstanding securities or instruments of the Company or
    any Subsidiary that contain any redemption or similar provisions, and there are no contracts, commitments, understandings or arrangements by which the Company or any Subsidiary is or may become bound to redeem a security of the Company or such
    Subsidiary. The Company does not have any stock appreciation rights or “phantom stock” plans or agreements or any similar plan or agreement. All of the outstanding shares of capital stock of the Company are duly authorized, validly issued, fully paid
    and nonassessable, have been issued in compliance with all federal and state securities laws, and none of such outstanding shares was issued in violation of any preemptive rights or similar rights to subscribe for or purchase securities. The authorized
    shares of the Company conform in all material respects to all statements relating thereto contained in the Registration Statement, the Pricing Prospectus and the Prospectus. The offers and sales of the Company’s securities were at all relevant times
    either registered under the Securities Act and the applicable state securities or Blue Sky laws or, based in part on the representations and warranties of the purchasers, exempt from such registration requirements. No further approval or authorization
    of any shareholder, the Board of Directors or others is required for the issuance and sale of the Securities. Except as disclosed in the SEC Reports, there are no shareholders agreements, voting agreements or other similar agreements with respect to
    the Company’s capital stock to which the Company is a party or, to the knowledge of the Company, between or among any of the Company’s shareholders.

   

  
  
    	 	 	 

  

  
     

  

  
  

   

  (h)       SEC Reports; Financial Statements. The Company has filed all reports, schedules, forms, statements and other documents required to
    be filed by the Company under the Securities Act and the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof, for the two years preceding the date hereof (or such shorter period as the Company was required by law or regulation to file
    such material) (the foregoing materials, including the exhibits thereto and documents incorporated by reference therein, together with the Pricing Prospectus and the Prospectus, being collectively referred to herein as the “SEC Reports”) on a
    timely basis or has received a valid extension of such time of filing and has filed any such SEC Reports prior to the expiration of any such extension. As of their respective dates, the SEC Reports complied in all material respects with the
    requirements of the Securities Act and the Exchange Act, as applicable, and none of the SEC Reports, when filed, contained any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order
    to make the statements therein, in the light of the circumstances under which they were made, not misleading. The Company has never been an issuer subject to Rule 144(i) under the Securities Act. The financial statements of the Company included in the
    SEC Reports comply in all material respects with applicable accounting requirements and the rules and regulations of the Commission with respect thereto as in effect at the time of filing. Such financial statements have been prepared in accordance with
    United States generally accepted accounting principles applied on a consistent basis during the periods involved (“GAAP”), except as may be otherwise specified in such financial statements or the notes thereto and except that unaudited financial
    statements may not contain all footnotes required by GAAP, and fairly present in all material respects the financial position of the Company and its consolidated Subsidiaries as of and for the dates thereof and the results of operations and cash flows
    for the periods then ended, subject, in the case of unaudited statements, to normal, immaterial, year-end audit adjustments. The agreements and documents described in the Registration Statement, the Pricing Prospectus, the Prospectus, and the SEC
    Reports conform in all material respects to the descriptions thereof contained therein and there are no agreements or other documents required by the Securities Act and the rules and regulations thereunder to be described in the Registration Statement,
    the Pricing Prospectus, the Prospectus or the SEC Reports or to be filed with the Commission as exhibits to the Registration Statement, that have not been so described or filed. Each agreement or other instrument (however characterized or described) to
    which the Company is a party or by which it is or may be bound or affected and (i) that is referred to in the Registration Statement, the Pricing Prospectus, the Prospectus or the SEC Reports, or (ii) is material to the Company’s business, has been
    duly authorized and validly executed by the Company, is in full force and effect in all material respects and is enforceable against the Company and, to the Company’s knowledge, the other parties thereto, in accordance with its terms, except (x) as
    such enforceability may be limited by bankruptcy, insolvency, reorganization or similar laws affecting creditors’ rights generally, (y) as enforceability of any indemnification or contribution provision may be limited under the federal and state
    securities laws, and (z) that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to the equitable defenses and to the discretion of the court before which any proceeding therefore may be brought. None
    of such agreements or instruments has been assigned by the Company, and neither the Company nor, to the best of the Company’s knowledge, any other party is in default thereunder and, to the best of the Company’s knowledge, no event has occurred that,
    with the lapse of time or the giving of notice, or both, would constitute a default thereunder. To the best of the Company’s knowledge, performance by the Company of the material provisions of such agreements or instruments will not result in a
    violation of any existing Applicable Law or order or decree of any Governmental Authority or court, domestic or foreign, having jurisdiction over the Company or any of its assets or businesses, including, without limitation, those relating to
    environmental laws and regulations.

   

  
  
    	 	 	 

  

  
     

  

  
  

   

  (i)       Material Changes; Undisclosed Events, Liabilities or Developments. Since the date of the latest audited financial statements
    included within the SEC Reports, except as disclosed in the SEC Reports, (i) there has been no event, occurrence or development that has had or that could reasonably be expected to result in a Material Adverse Effect, (ii) the Company has not incurred
    any liabilities (contingent or otherwise) other than (A) trade payables and accrued expenses incurred in the ordinary course of business consistent with past practice and (B) liabilities not required to be reflected in the Company’s financial
    statements pursuant to GAAP or disclosed in filings made with the Commission, (iii) the Company has not altered its method of accounting, (iv) the Company has not declared or made any dividend or distribution of cash or other property to its
    shareholders or purchased, redeemed or made any agreements to purchase or redeem any shares of its capital stock and (v) the Company has not issued any equity securities to any officer, director or Affiliate, except pursuant to existing Company stock
    option plans. The Company does not have pending before the Commission any request for confidential treatment of information. Except for the issuance of the Securities contemplated by this Agreement, no event, liability, fact, circumstance, occurrence
    or development has occurred or exists or is reasonably expected to occur or exist with respect to the Company or its Subsidiaries or their respective businesses, prospects, properties, operations, assets or financial condition that would be required to
    be disclosed by the Company under applicable securities laws at the time this representation is made or deemed made that has not been publicly disclosed at least one (1) Trading Day prior to the date that this representation is made.

   

  
  
    	 	 	 

  

  
     

  

  
   

  

  (j)       Litigation. There has not been, and to the knowledge of the Company, there is not pending or contemplated, any action, suit,
    inquiry, notice of violation, proceeding or investigation pending or, to the knowledge of the Company, threatened against or affecting the Company, any Subsidiary or any of their respective properties before or by any court, arbitrator, Governmental
    Authority (federal, state, county, local or foreign) (collectively, an “Action”). There are no Actions that (i) adversely affects or challenges the legality, validity or enforceability of any of the Transaction Documents or the Securities or,
    (ii) could, if there were an unfavorable decision, reasonably be expected to result in a Material Adverse Effect. Neither the Company nor any Subsidiary, nor to the Company’s knowledge any director or officer thereof, is or has been the subject of any
    Action involving a claim of violation of or liability under federal or state securities laws or a claim of breach of fiduciary duty. There has not been, and to the knowledge of the Company, there is not pending or contemplated, any investigation by the
    Commission involving the Company or any current or former director or officer of the Company. The Commission has not issued any stop order or other order suspending the effectiveness of any registration statement filed by the Company or any Subsidiary
    under the Exchange Act or the Securities Act.

   

  (k)       Labor Relations. No labor dispute exists or, to the knowledge of the Company, is imminent with respect to any of the employees of
    the Company, which could reasonably be expected to result in a Material Adverse Effect. None of the Company’s or its Subsidiaries’ employees is a member of a union that relates to such employee’s relationship with the Company or such Subsidiary, and
    neither the Company nor any of its Subsidiaries is a party to a collective bargaining agreement, and the Company and its Subsidiaries believe that their relationships with their employees are good. To the knowledge of the Company, no executive officer
    of the Company or any Subsidiary, is, or is now expected to be, in violation of any material term of any employment contract, confidentiality, disclosure or proprietary information agreement or non-competition agreement, or any other contract or
    agreement or any restrictive covenant in favor of any third party, and the continued employment of each such executive officer does not subject the Company or any of its Subsidiaries to any liability with respect to any of the foregoing matters that
    would reasonably be expected to have a Material Adverse Effect. The Company and its Subsidiaries are in compliance with all U.S. federal, state, local and foreign laws and regulations relating to employment and employment practices, terms and
    conditions of employment and wages and hours, except where the failure to be in compliance could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

   

  (l)       Compliance. Neither the Company nor any Subsidiary is in default under or in violation of (and no event has occurred that has not
    been waived that, with notice or lapse of time or both, would result in a default by the Company or any Subsidiary under), nor has the Company or any Subsidiary received notice of a claim that it is in default under or that it is in violation of, any
    indenture, loan or credit agreement or any other agreement or instrument to which it is a party or by which it or any of its properties is bound (whether or not such default or violation has been waived, except as could not reasonably be expected to
    result in a Material Adverse Effect.

   

  
  
    	 	 	 

  

  
     

  

  
  

   

  (m)       Environmental Laws. Neither the Company nor any of its Subsidiaries is in violation of any applicable international, national,
    state or local convention, law, regulation, order, governmental license, convention, treaty (including those promulgated by the International Maritime Organization) or other requirement relating to pollution or protection of human health or safety (as
    they relate to exposure to Materials of Environmental Concern (as defined below)) or protection of the environment (including, without limitation, ambient air, surface water, groundwater, land surface or subsurface strata) or protection of natural
    resources, including without limitation, conventions, laws or regulations relating to emissions, discharges, releases or threatened releases of chemicals, pollutants, contaminants, wastes, toxic substances, hazardous substances, petroleum, petroleum
    products or other hydrocarbons (collectively, “Materials of Environmental Concern”), or otherwise relating to the manufacture, processing, distribution, use, treatment, storage, disposal, transport or handling of Materials of Environmental
    Concern (collectively, “Environmental Laws”), nor has the Company or any Subsidiary received any written communication, whether from a Governmental Authority, citizens group, employee or otherwise, that alleges that the Company or any such
    Subsidiary is in violation of any Environmental Law or governmental license required pursuant to Environmental Law; except, in each case, as would not, individually or in the aggregate, have a Material Adverse Effect; (b) there is no claim, action or
    cause of action filed with a court or Governmental Authority and no investigation, or other action with respect to which the Company or any Subsidiary has received written notice alleging potential liability for investigatory costs, cleanup costs,
    governmental response costs, natural resources damages, property damages, personal injuries, attorneys' fees or penalties arising out of, based on or resulting from the presence, or release into the environment, of any Material of Environmental Concern
    at any location owned, leased or operated by the Company or any Subsidiary, now or in the past, or from any vessel owned, leased or operated by the Company or any Subsidiary, now or in the past (collectively, “Environmental Claim”), pending or,
    to the knowledge of the Company, threatened against the Company or any Subsidiary or any person or entity whose liability for any Environmental Claim the Company or any Subsidiary has retained or assumed either contractually or by operation of law,
    except as would not, individually or in the aggregate, have a Material Adverse Effect; (c) to the knowledge of the Company, there are no past or present actions, activities, circumstances, conditions, events or incidents, including, without limitation,
    the release, emission, discharge, presence or disposal of any Material of Environmental Concern, that reasonably would be expected to result in a violation of any Environmental Law, require expenditures to be incurred pursuant to Environmental Law, or
    form the basis of an Environmental Claim against the Company, any Subsidiary or against any person or entity whose liability for any Environmental Claim the Company or any Subsidiary has retained or assumed either contractually or by operation of law,
    except as would not, individually or in the aggregate, have a Material Adverse Effect (for the avoidance of doubt, the operation of vessels in the ordinary course of business shall not be deemed, by itself, an action, activity, circumstance or
    condition set forth in this clause (c)); and (d) none of the Company or any Subsidiary is subject to any pending proceeding under Environmental Law to which a Governmental Authority is a party and which the Company reasonably believes is likely to
    result in monetary sanctions of US$100,000 or more. The Company has reasonably concluded that any existing compliance and remediation costs and liabilities arising under Environmental Laws and resulting from the business, operations or properties of
    the Company or any Subsidiary would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, except as set forth in or contemplated in the Registration Statement, Pricing Prospectus and the Prospectus. In the
    ordinary course of its business, the Company conducts a periodic review of the effect of Environmental Laws on the business, operations and properties of the Company and the Subsidiaries, in the course of which it identifies and evaluates associated
    costs and liabilities (including, without limitation, any capital or operating expenditures required for clean-up, closure of properties or compliance with Environmental Laws or any Authorizations, any related constraints on operating activities and
    any potential liabilities to third parties). No facts or circumstances have come to the Company's attention that could result in costs or liabilities that could be expected, individually or in the aggregate, to have a Material Adverse Effect.

   

  
  
    	 	 	 

  

  
     

  

  
  

   

  (n)       Law and Permits. Except as described in the Registration Statement or the Pricing Prospectus or the Prospectus, the Company and
    each of the Subsidiaries: (i) is and at all times since January 1, 2019 has been in material compliance with all United States (federal, state and local) and foreign statutes, rules, regulations, codes, treaties, or guidance applicable to the Company
    or the Subsidiaries (“Applicable Laws”); (B) since January 1, 2019 has not received any notice of adverse finding, warning letter, untitled letter or other correspondence or notice from any Governmental Authority (as defined below) alleging or
    asserting noncompliance with any Applicable Laws or any licenses, certificates, approvals, clearances, authorizations, permits and supplements or amendments thereto required by any such Applicable Laws (“Authorizations”); (C) since January 1,
    2019 has not received notice of any claim, action, suit, proceeding, hearing, enforcement, investigation, arbitration or other action from any Governmental Authority or third party alleging that any product operation or activity is in violation of any
    Applicable Laws or Authorizations and has no knowledge that any such Governmental Authority or third party intends to assert any such claim, litigation, arbitration, action, suit, investigation or proceeding; (D) since January 1, 2019 has not received
    notice that any Governmental Authority has taken, is taking or intends to take action to limit, suspend, modify or revoke any Authorizations and the Company has no knowledge that any such Governmental Authority is considering such action; and (E) has
    filed, obtained, maintained or submitted all material reports, documents, forms, notices, applications, records, claims, submissions and supplements or amendments as required by any Applicable Laws or Authorizations and that all such reports,
    documents, forms, notices, applications, records, claims, submissions and supplements or amendments were complete and correct in all material respects on the date filed (or were corrected or supplemented by a subsequent submission), except in the case
    of (A) through (E) above, as could not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect. “Governmental Authority” means any federal, provincial, state, local, foreign or other governmental,
    quasi-governmental or administrative agency, court or body or any other type of regulatory authority or body, including, without limitation, the Nasdaq Capital Market. The aggregate of all pending legal or governmental proceedings to which the Company
    or any Subsidiary is a party or of which any of their respective property or assets is the subject which are not described in the Registration Statement, Pricing Prospectus and the Prospectus, including ordinary routine litigation incidental to the
    business, would not result in a Material Adverse Effect.

   

  (o)       Title to Assets. The Company and the Subsidiaries have good and marketable title in fee simple to all real property owned by them
    and good and marketable title in all personal property owned by them that is material to the business of the Company and the Subsidiaries, in each case free and clear of all Liens, except for (i) Liens arising under any credit facility or loan
    agreement to which the Company or any of its Subsidiaries is a party or their assets are bound as disclosed in the Registration Statement and the Prospectus, (ii) Liens as do not materially affect the value of such property and do not materially
    interfere with the use made and proposed to be made of such property by the Company and the Subsidiaries and (iii) Liens for the payment of foreign, federal, state or other taxes, for which appropriate reserves have been made therefor in accordance
    with GAAP and, the payment of which is neither delinquent nor subject to penalties. Any real property and facilities held under lease by the Company and the Subsidiaries are held by them under valid, subsisting and enforceable leases with which the
    Company and the Subsidiaries are in compliance.

  
  
    	 	 	 

  

  
     

  

  
   

  (p)       Intellectual Property. The Company and each of its Subsidiaries owns, possesses, or can acquire on reasonable terms, all
    Intellectual Property (as defined below) necessary for the conduct of their respective businesses as now conducted or as described in the Registration Statement, the Pricing Prospectus and the Prospectus to be conducted. Except as would not result in a
    Material Adverse Effect, (A) there are no rights of third parties to any such Intellectual Property owned by the Company; (B) to the knowledge of the Company, there is no infringement, misappropriation or violation by third parties of any such
    Intellectual Property; (C) there is no pending or, to the knowledge of the Company, threatened, action, suit, proceeding or claim by others challenging the Company’s or any Subsidiary’s rights in or to any such Intellectual Property, and the Company is
    unaware of any facts which would form a reasonable basis for any such claim; (D) the Intellectual Property owned by the Company and each of the Subsidiaries, and to the knowledge of the Company, the Intellectual Property licensed to the Company, each
    of the Subsidiaries, has not been adjudged invalid or unenforceable, in whole or in part, and there is no pending or, to the knowledge of the Company, threatened action, suit, proceeding or claim by others challenging the validity or scope of any such
    Intellectual Property, and the Company is unaware of any facts which would form a reasonable basis for any such claim; (E) there is no pending or, to the knowledge of the Company, threatened action, suit, proceeding or claim by others that the Company
    or any of its Subsidiaries infringes, misappropriates or otherwise violates any Intellectual Property or other proprietary rights of others, and neither the Company nor any of the Subsidiaries has received any written notice of such claim; and (F) to
    the Company’s knowledge, no employee of the Company or any of its Subsidiaries is in or has ever been in violation of any term of any employment contract, patent disclosure agreement, invention assignment agreement, non-competition agreement,
    non-solicitation agreement, nondisclosure agreement or any restrictive covenant to or with a former employer where the basis of such violation relates to such employee’s employment with the Company or any of its Subsidiaries or actions undertaken by
    the employee while employed with the Company or any of its Subsidiaries. “Intellectual Property” shall mean all patents, patent applications, trade and service marks, trade and service mark registrations, trade names, copyrights, licenses,
    inventions, trade secrets, domain names, technology, know-how and other intellectual property.

   

  (q)       Insurance. The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such losses and
    risks and in such amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged, including, but not limited to, directors and officers insurance coverage at least equal to the aggregate Subscription
    Amount. Neither the Company nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to
    continue its business without a significant increase in cost.

   

  (r)       Transactions With Affiliates and Employees. Except as disclosed in the SEC Reports, none of the officers or directors of the
    Company or any Subsidiary and, to the knowledge of the Company, none of the 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, providing for the borrowing of money from or lending of money to or
    otherwise requiring payments to or from any officer, director or such employee or, to the knowledge of the Company, any entity in which any officer, director, or any such employee has a substantial interest or is an officer, director, trustee,
    stockholder, member or partner, in each case in excess of $120,000 other than for (i) payment of salary or consulting fees for services rendered, (ii) reimbursement for expenses incurred on behalf of the Company and (iii) other employee benefits,
    including stock option agreements under any stock option plan of the Company.

   

  
  
    	 	 	 

  

  
     

  

  
   

  (s)       Sarbanes-Oxley; Internal Accounting Controls. The Company and the Subsidiaries are in material compliance with any and all
    applicable requirements of the Sarbanes-Oxley Act of 2002 that are effective as of the date hereof, and any and all applicable rules and regulations promulgated by the Commission thereunder that are effective as of the date hereof and as of the Closing
    Date. The Company and the Subsidiaries maintain a system of internal accounting controls sufficient to provide reasonable assurance that: (i) transactions are executed in accordance with management’s general or specific authorizations, (ii)
    transactions are recorded as necessary to permit preparation of financial statements in conformity with GAAP and to maintain asset accountability, (iii) access to assets is permitted only in accordance with management’s general or specific
    authorization, and (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences. The Company and the Subsidiaries have established disclosure
    controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the Company and the Subsidiaries and designed such disclosure controls and procedures to ensure that information required to be disclosed by the Company in the
    reports it files or submits under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Commission’s rules and forms.

   

  (t)       Certain Fees. Except for fees payable by the Company to the Placement Agent and as set forth in the Pricing Prospectus or the
    Prospectus, no brokerage or finder’s fees or commissions are or will be payable by the Company, any Subsidiary or Affiliate of the Company to any broker, financial advisor or consultant, finder, placement agent, investment banker, bank or other Person
    with respect to the transactions contemplated by the Transaction Documents. The Purchasers shall have no obligation with respect to any fees or with respect to any claims made by or on behalf of other Persons for fees of a type contemplated in this
    Section that may be due in connection with the transactions contemplated by the Transaction Documents.

   

  (u)       Investment Company. The Company is not, and is not an Affiliate of, and immediately after receipt of payment for the Securities,
    will not be or be an Affiliate of, an “investment company” within the meaning of the Investment Company Act of 1940, as amended. The Company shall conduct its business in a manner so that it will not become an “investment company” subject to
    registration under the Investment Company Act of 1940, as amended.

   

  (v)       Registration Rights. No Person has any right to cause the Company or any Subsidiary to effect the registration under the Securities
    Act of any securities of the Company or any Subsidiary.

   

  (w)       Listing and Maintenance Requirements. The Common Shares are registered pursuant to Section 12(b) or 12(g) of the Exchange Act, and
    the Company has taken no action designed to, or which to its knowledge is likely to have the effect of, terminating the registration of the Common Shares under the Exchange Act nor has the Company received any notification that the Commission is
    contemplating terminating such registration. The Company has not, in the 12 months preceding the date hereof, received notice from any Trading Market on which the Common Shares are or have been listed or quoted to the effect that the Company is not in
    compliance with the listing or maintenance requirements of such Trading Market. The Company is, and has no reason to believe that it will not in the foreseeable future continue to be, in compliance with all such listing and maintenance requirements.
    The Common Shares are currently eligible for electronic transfer through the Depository Trust Company or another established clearing corporation and the Company is current in payment of the fees to the Depository Trust Company (or such other
    established clearing corporation) in connection with such electronic transfer.

   

  
  
    	 	 	 

  

  
     

  

  
   

  

  (x)       Disclosure. Except with respect to the material terms and conditions of the transactions contemplated by the Transaction Documents,
    the Company confirms that neither it nor any other Person acting on its behalf has provided any of the Purchasers or their agents or counsel with any information that it believes constitutes or might constitute material, non-public information which is
    not otherwise disclosed in the Pricing Prospectus or Prospectus. The Company understands and confirms that the Purchasers will rely on the foregoing representation in effecting transactions in securities of the Company. All of the disclosure furnished
    by or on behalf of the Company to the Purchasers regarding the Company and its Subsidiaries, their respective businesses and the transactions contemplated hereby, is true and correct and does not contain any untrue statement of a material fact or omit
    to state any material fact necessary in order to make the statements made therein, in the light of the circumstances under which they were made, not misleading. The SEC Reports, when they were filed with the Commission, conformed in all material
    respects to the requirements of the Securities Act and the Exchange Act, as applicable, and the applicable rules and regulations, and none of such documents, when they were filed with the Commission, contained any untrue statement of a material fact or
    omitted to state a material fact necessary to make the statements therein (with respect to the SEC Reports incorporated by reference in the Prospectus), in light of the circumstances under which they were made not misleading; and any further documents
    so filed and incorporated by reference in the Prospectus, when such documents are filed with the Commission, will conform in all material respects to the requirements of the Exchange Act and the applicable rules and regulations, as applicable, and will
    not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in light of the circumstances under which they were made not misleading. The press releases disseminated by the Company
    during the twelve months preceding the date of this Agreement taken as a whole do not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein,
    in the light of the circumstances under which they were made and when made, not misleading. The Company acknowledges and agrees that no Purchaser makes or has made any representations or warranties with respect to the transactions contemplated hereby
    other than those specifically set forth in Section 3.2 hereof. No post-effective amendment to the Registration Statement reflecting any facts or events arising after the date thereof which represent, individually or in the aggregate, a fundamental
    change in the information set forth therein is required to be filed with the Commission. There are no documents required to be filed with the Commission in connection with the transaction contemplated hereby that (x) have not been filed as required
    pursuant to the Securities Act or (y) will not be filed within the requisite time period. There are no contracts or other documents required to be described in the Preliminary Prospectus or Prospectus, or to be filed as exhibits or schedules to the
    Registration Statement, which have not been described or filed as required.

   

  (y)       No Integrated Offering. Assuming the accuracy of the Purchasers’ representations and warranties set forth in Section 3.2, neither
    the Company, nor any of its Affiliates, nor 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 cause this offering
    of the Securities to be integrated with prior offerings by the Company for purposes of any applicable shareholder approval provisions of any Trading Market on which any of the securities of the Company are listed or designated.

   

  
  
    	 	 	 

  

  
     

  

  
  

    

   

  (z)       Solvency. Based on the consolidated financial condition of the Company as of the Closing Date, after giving effect to the receipt
    by the Company of the proceeds from the sale of the Securities hereunder, (i) the fair saleable value of the Company’s assets exceeds the amount that will be required to be paid on or in respect of the Company’s existing debts and other liabilities
    (including known contingent liabilities) as they mature, (ii) the Company’s assets do not constitute unreasonably small capital to carry on its business as now conducted and as proposed to be conducted including its capital needs taking into account
    the particular capital requirements of the business conducted by the Company, consolidated and projected capital requirements and capital availability thereof as such matters are described in the Registration Statement, and (iii) the current cash flow
    of the Company, together with the proceeds the Company would receive, were it to liquidate all of its assets, after taking into account all anticipated uses of the cash, would be sufficient to pay all amounts on or in respect of its liabilities when
    such amounts are required to be paid. The Company does not intend to incur debts beyond its ability to pay such debts as they mature (taking into account the timing and amounts of cash to be payable on or in respect of its debt). The Company has no
    knowledge of any facts or circumstances which lead it to believe that it will file for reorganization or liquidation under the bankruptcy or reorganization laws of any jurisdiction within one year from the Closing Date. For the purposes of this
    Agreement, “Indebtedness” means (x) any liabilities for borrowed money or amounts owed in excess of $50,000 (other than trade accounts payable incurred in the ordinary course of business), (y) all guaranties, endorsements and other contingent
    obligations in respect of indebtedness of others, whether or not the same are or should be reflected in the Company’s consolidated balance sheet (or the notes thereto), except guaranties by endorsement of negotiable instruments for deposit or
    collection or similar transactions in the ordinary course of business; and (z) the present value of any lease payments in excess of $50,000 due under leases required to be capitalized in accordance with GAAP. Neither the Company nor any Subsidiary is
    in default with respect to any Indebtedness.

   

  (aa)       Tax Status. Except for matters that would not, individually or in the aggregate, reasonably be expected to result in a Material
    Adverse Effect, the Company and its Subsidiaries each (i) has made or filed all United States federal, state and local income and all foreign income and franchise tax returns, reports and declarations required by any jurisdiction to which it is
    subject, (ii) has paid all taxes and other governmental assessments and charges that are material in amount, shown or determined to be due on such returns, reports and declarations and (iii) has set aside on its books provision reasonably adequate for
    the payment of all material taxes for periods subsequent to the periods to which such returns, reports or declarations apply. There are no unpaid taxes in any material amount claimed to be due by the taxing authority of any jurisdiction, and the
    officers of the Company or of any Subsidiary know of no basis for any such claim. The provisions for taxes payable, if any, shown on the financial statements filed with or as part of the Registration Statement are sufficient for all accrued and unpaid
    taxes, whether or not disputed, and for all periods to and including the dates of such consolidated financial statements. The term “taxes” mean all federal, state, local, foreign, and other net income, gross income, gross receipts, sales, use,
    ad valorem, transfer, franchise, profits, license, lease, service, service use, withholding, payroll, employment, excise, severance, stamp, occupation, premium, property, windfall profits, customs, duties or other taxes, fees, assessments, or charges
    of any kind whatsoever, together with any interest and any penalties, additions to tax, or additional amounts with respect thereto. The term “returns” means all returns, declarations, reports, statements, and other documents required to be filed in
    respect to taxes. The Company did not qualify as a “passive foreign investment company” within the meaning of Section 1297 of the United States Internal Revenue Code of 1986, as amended, for its most recently completed taxable year.

   

  
  
    	 	 	 

  

  
     

  

  
   

  

  (bb)      Foreign Corrupt Practices. Neither the Company nor any Subsidiary, nor to the knowledge of the Company or any Subsidiary, any agent
    or other person acting on behalf of the Company or any Subsidiary, has (i) directly or indirectly, used any funds for unlawful contributions, gifts, entertainment or other unlawful expenses related to foreign or domestic political activity, (ii) made
    any unlawful payment to foreign or domestic government officials or employees or to any foreign or domestic political parties or campaigns from corporate funds, (iii) failed to disclose fully any contribution made by the Company or any Subsidiary (or
    made by any person acting on its behalf of which the Company is aware) which is in violation of Applicable Law, or (iv) violated in any material respect any provision of FCPA or any foreign equivalent. The Company has taken reasonable steps to ensure
    that its accounting controls and procedures are sufficient to cause the Company to comply in all material respects with the FCPA or any foreign equivalent.

   

  (cc)        Accountants. The Company’s accounting firm is Ernst and Young (Hellas), Certified Auditors Accountants S.A. To the knowledge and
    belief of the Company, such accounting firm (i) is an independent registered public accounting firm as required by the Exchange Act and (ii) shall express its opinion with respect to the financial statements to be included in the Company’s Annual
    Report for the fiscal year ending December 31, 2022. 

   

  (dd)       Acknowledgment Regarding Purchasers’ Purchase of Securities. The Company acknowledges and agrees that each of the Purchasers is
    acting solely in the capacity of an arm’s length purchaser with respect to the Transaction Documents and the transactions contemplated thereby. The Company further acknowledges that no Purchaser is acting as a financial advisor or fiduciary of the
    Company (or in any similar capacity) with respect to the Transaction Documents and the transactions contemplated thereby and any advice given by any Purchaser or any of their respective representatives or agents in connection with the Transaction
    Documents and the transactions contemplated thereby is merely incidental to the Purchasers’ purchase of the Securities. The Company further represents to each Purchaser that the Company’s decision to enter into this Agreement and the other Transaction
    Documents has been based solely on the independent evaluation of the transactions contemplated hereby by the Company and its representatives.

   

  (ee)       Acknowledgment Regarding Purchaser’s Trading Activity. Anything in this Agreement or
      elsewhere herein to the contrary notwithstanding (except for Sections 3.2(f) and 4.14 hereof), it is understood and acknowledged by the Company that: (i) none of the Purchasers has been asked by the Company to agree, nor has any Purchaser agreed, to
      desist from purchasing or selling, long and/or short, securities of the Company, or “derivative” securities based on securities issued by the Company or to hold the Securities for any specified term; (ii) past or future open market or other
      transactions by any Purchaser, specifically including, without limitation, Short Sales or “derivative” transactions, before or after the closing of this or future private placement transactions, may negatively impact the market price of the Company’s
      publicly-traded securities; (iii) any Purchaser, and counter-parties in “derivative” transactions to which any such Purchaser is a party, directly or indirectly, presently may have a “short” position in the Common Shares, and (iv) each Purchaser
      shall not be deemed to have any affiliation with or control over any arm’s length counter-party in any “derivative” transaction. The Company further understands and acknowledges that (y) one or more Purchasers may engage in hedging activities
    at various times during the period that the Securities are outstanding, including, without limitation, during the periods that the value of the Warrant Shares deliverable with respect to Securities are being determined, and (z) such hedging activities
    (if any) could reduce the value of the existing stockholders' equity interests in the Company at and after the time that the hedging activities are being conducted.  The Company acknowledges that such aforementioned hedging activities do not constitute
    a breach of any of the Transaction Documents.

   

  
  
    	 	 	 

  

  
     

  

  
   

  

  (ff)       Regulation M Compliance.  The Company has not, and to its knowledge no one acting on its behalf has, (i) taken, directly or
    indirectly, any action designed to cause or to result in the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of any of the Securities, (ii) sold, bid for, purchased, or, paid any compensation
    for soliciting purchases of, any of the Securities, or (iii) paid or agreed to pay to any Person any compensation for soliciting another to purchase any other securities of the Company, other than, in the case of clauses (ii) and (iii), compensation
    paid to the Placement Agent in connection with the placement of the Securities.

   

  (gg)       Cybersecurity.  (i)(x) To the Company’s knowledge, there has been no security breach or other compromise of or relating to any of
    the Company’s or any Subsidiary’s information technology and computer systems, networks, hardware, software, data (including the data of its respective customers, employees, suppliers, vendors and any third party data maintained by or on behalf of it),
    equipment or technology (collectively, “IT Systems and Data”) and (y) the Company and the Subsidiaries have not been notified of, and has no knowledge of any event or condition that would reasonably be expected to result in, any security breach
    or other compromise to its IT Systems and Data; (ii) the Company and the Subsidiaries are presently in compliance with all applicable laws or statutes and all judgments, orders, rules and regulations of any court or arbitrator or governmental or
    regulatory authority, internal policies and contractual obligations relating to the privacy and security of IT Systems and Data and to the protection of such IT Systems and Data from unauthorized use, access, misappropriation or modification, except as
    would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect; (iii) the Company and the Subsidiaries have implemented and maintained commercially reasonable safeguards to maintain and protect its material
    confidential information and the integrity, continuous operation, redundancy and security of all IT Systems and Data; and (iv) the Company and the Subsidiaries have implemented backup and disaster recovery technology consistent with industry standards
    and practices.

   

  (hh)       Stock Option Plans. The Company has no outstanding stock options granted under any equity incentive plan or otherwise as
    compensation to its directors and officers.

   

  (ii)       Office of Foreign Assets Control. Neither the Company nor any Subsidiary nor, to the Company's knowledge, any director, officer,
    agent, employee or affiliate of the Company or any Subsidiary is currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury Department (“OFAC”).

   

  
  
    	 	 	 

  

  
     

  

  
   

  (jj)       U.S. Real Property Holding Corporation. The Company is not and has never been a U.S. real property holding corporation within the
    meaning of Section 897 of the Internal Revenue Code of 1986, as amended, and the Company shall so certify upon Purchaser’s request.

   

  (kk)      Bank Holding Company Act. Neither the Company nor any of its Subsidiaries or Affiliates is subject to the Bank Holding Company Act
    of 1956, as amended (the “BHCA”) and to regulation by the Board of Governors of the Federal Reserve System (the “Federal Reserve”). Neither the Company nor any of its Subsidiaries or Affiliates owns or controls, directly or indirectly,
    five percent (5%) or more of the outstanding shares of any class of voting securities or twenty-five percent (25%) or more of the total equity of a bank or any entity that is subject to the BHCA and to regulation by the Federal Reserve. Neither the
    Company nor any of its Subsidiaries or Affiliates exercises a controlling influence over the management or policies of a bank or any entity that is subject to the BHCA and to regulation by the Federal Reserve.

   

  (ll)       Money Laundering. The operations of the Company and its Subsidiaries are and have been conducted at all times in compliance with
    applicable financial record-keeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, applicable money laundering statutes and applicable rules and regulations thereunder (collectively, the “Money
      Laundering Laws”), and no Action or Proceeding by or before any court or Governmental Authority or body or any arbitrator involving the Company or any Subsidiary with respect to the Money Laundering Laws is pending or, to the knowledge of the
    Company or any Subsidiary, threatened.

   

  (mm)        Maritime Representations.

   

  (i)       Each of the vessels described in the Registration Statement and the Prospectus as being owned by the Company or any Subsidiary
    as described therein (“Owned Vessels”) has been duly and validly registered in the name of a Subsidiary under the laws and regulations and flag of the nation of its registration; no other action is necessary to establish and perfect such
    entity’s title to and interest in any of the Owned Vessels as against any third party; and each Owned Vessel is owned directly by the Company or such Subsidiary free and clear of all liens, claims, security interests or other encumbrances, except such
    as are described in or contemplated by the Registration Statement and the Prospectus. Each such Subsidiary has good title to the applicable Owned Vessel, free and clear of all mortgages, pledges, liens, security interests and claims and all defects of
    the title of record except for maritime liens incurred in the ordinary course and those liens arising under credit facilities, each as disclosed in the Registration Statement and the Prospectus.

   

  (ii)       Except as described in the Registration Statement and the Prospectus, neither the Company nor any of its Subsidiaries is a
    party to any memorandum of agreement or option agreement to purchase any vessels.

   

  
  
    	 	 	 

  

  
     

  

  
  

   

  (iii)       Each of the Owned Vessels is in good standing with respect to the payment of past and current taxes, fees and other amounts
    payable under the laws of the jurisdiction in which it is registered, except where such lien or defect of title or record would not result in a Material Adverse Effect.

   

  (iv)       Each of the Owned Vessels is operated in compliance with the rules, codes of practice, conventions, protocols, guidelines or
    similar requirements or restrictions imposed, published or promulgated by any governmental authority, classification society or insurer applicable to the respective Owned Vessel (collectively, “Maritime Guidelines”) and all applicable
    international, national, state and local conventions, laws, regulations, orders, governmental licenses and other requirements (including, without limitation, all Environmental Laws), in each case as in effect on the date hereof, except where such
    failure to be in compliance would not result in a Material Adverse Effect. The Company and each applicable Subsidiary are qualified to own or lease, as the case may be, and operate such Owned Vessels under all applicable international, national, state
    and local conventions, laws, regulations, orders, governmental licenses and other requirements (including, without limitation, all Environmental Laws) and Maritime Guidelines, including the laws, regulations and orders of each such vessel's flag state,
    in each case as in effect on the date hereof, except where such failure to be so qualified would not result in a Material Adverse Effect.

   

  (v)       Each of the Owned Vessels is classed by a classification society which is a full member of the International Association of
    Classification Societies and such Owned Vessels are in class with valid class and trading certificates, without any overdue recommendations, in each case based on the classification and certification requirements in effect on the date hereof.

   

  (nn)       Foreign Private Issuer. The Company is a “foreign private issuer” as defined in Rule 405 promulgated under the Securities Act.

   

  (oo)       Jurisdiction. The Company has the power to submit, and has legally, validly, effectively and irrevocably submitted, to the
    jurisdiction of any federal or state court in the State of New York, County of New York, and has the power to designate, appoint and empower, and has legally, validly and effectively designated, appointed and empowered, an agent for service of process
    in any suit or proceeding based on or arising under this Agreement in any federal or state court in the State of New York.

   

  3.2       Representations and Warranties of the Purchasers. Each Purchaser, for itself and for no other Purchaser, hereby represents and
    warrants as of the date hereof and as of the Closing Date to the Company as follows (unless as of a specific date therein, in which case they shall be accurate as of such date):

   

  
  
    	 	 	 

  

  
     

  

  
  

   

  (a)       Organization; Authority. Such Purchaser is either an individual or an entity duly incorporated or formed, validly
    existing and in good standing under the laws of the jurisdiction of its incorporation or formation with full right, corporate, partnership, limited liability company or similar power and authority to enter into and to consummate the transactions
    contemplated by the Transaction Documents and otherwise to carry out its obligations hereunder and thereunder. The execution and delivery of the Transaction Documents and performance by such Purchaser of the transactions contemplated by the Transaction
    Documents have been duly authorized by all necessary corporate, partnership, limited liability company or similar action, as applicable, on the part of such Purchaser. Each Transaction Document to which it is a party has been duly executed by such
    Purchaser, and when delivered by such Purchaser in accordance with the terms hereof, will constitute the valid and legally binding obligation of such Purchaser, enforceable against it in accordance with its terms, except: (i) as limited by general
    equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating to the availability of specific
    performance, injunctive relief or other equitable remedies and (iii) insofar as indemnification and contribution provisions may be limited by Applicable Law.

   

  (b)       Understandings or Arrangements. Such Purchaser is acquiring the Securities as principal for its own account and has no
    direct or indirect arrangement or understandings with any other persons to distribute or regarding the distribution of such Securities (this representation and warranty not limiting such Purchaser’s right to sell the Securities pursuant to the
    Registration Statement or otherwise in compliance with applicable federal and state securities laws). Such Purchaser is acquiring the Securities hereunder in the ordinary course of its business.

   

  (c)       Reserved.

   

  (d)       Experience of Such Purchaser. Such Purchaser, either alone or together with its representatives, has such knowledge,
    sophistication and experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment in the Securities, and has so evaluated the merits and risks of such investment. Such Purchaser is able
    to bear the economic risk of an investment in the Securities and, at the present time, is able to afford a complete loss of such investment.

   

  (e)       Access to Information. Such Purchaser acknowledges that it has had the opportunity to review the Transaction Documents
    (including all exhibits and schedules thereto) and the SEC Reports and has been afforded, (i) the opportunity to ask such questions as it has deemed necessary of, and to receive answers from, representatives of the Company concerning the terms and
    conditions of the offering of the Securities and the merits and risks of investing in the Securities; (ii) access to information about the Company and its financial condition, results of operations, business, properties, management and prospects
    sufficient to enable it to evaluate its investment; and (iii) the opportunity to obtain such additional information that the Company possesses or can acquire without unreasonable effort or expense that is necessary to make an informed investment
    decision with respect to the investment.  Such Purchaser acknowledges and agrees that neither the Placement Agent nor any Affiliate of the Placement Agent has provided such Purchaser with any information or advice with respect to the Securities nor is
    such information or advice necessary or desired.  Neither the Placement Agent nor any Affiliate has made or makes any representation as to the Company or the quality of the Securities and the Placement Agent and any Affiliate may have acquired
    non-public information with respect to the Company which such Purchaser agrees need not be provided to it.  In connection with the issuance of the Securities to such Purchaser, neither the Placement Agent nor any of its Affiliates has acted as a
    financial advisor or fiduciary to such Purchaser.

   

  
  
    	 	 	 

  

  
     

  

  
  

   

  (f)       Certain Transactions and Confidentiality. Other than consummating the transactions contemplated hereunder, such Purchaser
    has not, nor has any Person acting on behalf of or pursuant to any understanding with such Purchaser, directly or indirectly executed any purchases or sales, including Short Sales, of the securities of the Company during the period commencing as of the
    time that such Purchaser first received a term sheet (written or oral) from the Company or any other Person representing the Company setting forth the material pricing terms of the transactions contemplated hereunder and ending immediately prior to the
    execution hereof. Notwithstanding the foregoing, in the case of a Purchaser that is a multi-managed investment vehicle whereby separate portfolio managers manage separate portions of such Purchaser’s assets and the portfolio managers have no direct
    knowledge of the investment decisions made by the portfolio managers managing other portions of such Purchaser’s assets, the representation set forth above shall only apply with respect to the portion of assets managed by the portfolio manager that
    made the investment decision to purchase the Securities covered by this Agreement. Other than to other Persons party to this Agreement or to such Purchaser’s representatives, including, without limitation, its officers, directors, partners, legal and
    other advisors, employees, agents and Affiliates, such Purchaser has maintained the confidentiality of all disclosures made to it in connection with this transaction (including the existence and terms of this transaction). Notwithstanding the
    foregoing, for the avoidance of doubt, nothing contained herein shall constitute a representation or warranty, or preclude any actions, with respect to locating or borrowing shares in order to effect Short Sales or similar transactions in the future.

   

  The Company acknowledges and agrees that the representations contained in this Section 3.2 shall not modify, amend or affect such Purchaser’s right
    to rely on the Company’s representations and warranties contained in this Agreement or any representations and warranties contained in any other Transaction Document or any other document or instrument executed and/or delivered in connection with this
    Agreement or the consummation of the transactions contemplated hereby. Notwithstanding the foregoing, for the avoidance of doubt, nothing contained herein shall constitute a representation or warranty, or preclude any actions, with respect to locating
    or borrowing shares in order to effect Short Sales or similar transactions in the future.

   

  ARTICLE IV.

    OTHER AGREEMENTS OF THE PARTIES

   

  4.1       Warrant Shares. If all or any portion of a Warrant is exercised at a time when there is an effective registration statement to
    cover the issuance or resale of the Warrant Shares or if the Warrant is exercised via cashless exercise, the Warrant Shares issued pursuant to any such exercise shall be issued free of all legends. If at any time following the date hereof the
    Registration Statement (or any subsequent registration statement registering the sale or resale of the Warrant Shares) is not effective or is not otherwise available for the sale or resale of the Warrant Shares, the Company shall immediately notify the
    holders of the Warrants in writing that such registration statement is not then effective and thereafter shall promptly notify such holders when the registration statement is effective again and available for the sale or resale of the Warrant Shares
    (it being understood and agreed that the foregoing shall not limit the ability of the Company to issue, or any Purchaser to sell, any of the Warrant Shares in compliance with applicable federal and state securities laws). The Company shall use best
    efforts to keep a registration statement (including the Registration Statement) registering the issuance or resale of the Warrant Shares effective during the term of the Warrants.

   

  
  
    	 	 	 

  

  
     

  

  
   

  

  4.2       Furnishing of Information. Until the earliest of the time that (i) no Purchaser owns Securities or (ii) the Warrants have expired,
    the Company covenants to timely file (or obtain extensions in respect thereof and file within the applicable grace period) all reports required to be filed by the Company after the date hereof pursuant to the Exchange Act even if the Company is not
    then subject to the reporting requirements of the Exchange Act.

   

  4.3       Integration. The Company shall not sell, offer for sale or solicit offers to buy or otherwise negotiate in respect of any security
    (as defined in Section 2 of the Securities Act) that would be integrated with the offer or sale of the Securities for purposes of the rules and regulations of any Trading Market such that it would require shareholder approval prior to the closing of
    such other transaction unless shareholder approval is obtained before the closing of such subsequent transaction.

   

  4.4       Securities Laws Disclosure; Publicity. The Company shall (a) by the Disclosure Time, issue a press release disclosing the material
    terms of the transactions contemplated hereby, and (b) file a Current Report on Form 6-K, including the Transaction Documents as exhibits thereto, with the Commission within the time required by the Exchange Act. From and after the issuance of such
    press release, the Company represents to the Purchasers that it shall have publicly disclosed all material, non-public information delivered to any of the Purchasers by the Company or any of its Subsidiaries, or any of their respective officers,
    directors, employees, Affiliates or agents, including, without limitation, the Placement Agent, in connection with the transactions contemplated by the Transaction Documents. In addition, effective upon the issuance of such press release, the Company
    acknowledges and agrees that any and all confidentiality or similar obligations under any agreement, whether written or oral, between the Company, any of its Subsidiaries or any of their respective officers, directors, agents, employees, Affiliates or
    agents, including, without limitation, the Placement Agent, on the one hand, and any of the Purchasers or any of their Affiliates on the other hand, shall terminate and be of no further force or effect. The Company understands and confirms that each
    Purchaser shall be relying on the foregoing covenant in effecting transactions in securities of the Company. The Company and each Purchaser shall consult with each other in issuing any other press releases with respect to the transactions contemplated
    hereby, and neither the Company nor any Purchaser shall issue any such press release nor otherwise make any such public statement without the prior consent of the Company, with respect to any press release of any Purchaser, or without the prior consent
    of each Purchaser, with respect to any press release of the Company, which consent shall not unreasonably be withheld or delayed, except if such disclosure is required by law, in which case the disclosing party shall promptly provide the other party
    with prior notice of such public statement or communication. Notwithstanding the foregoing, the Company shall not publicly disclose the name of any Purchaser, or include the name of any Purchaser in any filing with the Commission or any regulatory
    agency or Trading Market, without the prior written consent of such Purchaser, except (a) as required by federal securities law in connection with the filing of final Transaction Documents with the Commission and (b) to the extent such disclosure is
    required by law or Trading Market regulations, in which case the Company shall provide the Purchasers with prior notice of such disclosure permitted under this clause (b) and reasonably cooperate with such Purchaser regarding such disclosure.

   

  
  
    	 	 	 

  

  
     

  

  
  

   

  4.5       Reserved.

   

  4.6       Non-Public Information. Except with respect to the material terms and conditions of the transactions contemplated by the
    Transaction Documents, which shall be disclosed pursuant to Section 4.4, the Company covenants and agrees that neither it, nor any other Person acting on its behalf will provide any Purchaser or its agents or counsel with any information that
    constitutes, or the Company reasonably believes constitutes, material non-public information, unless prior thereto such Purchaser shall have consented in writing to the receipt of such information and agreed in writing with the Company to keep such
    information confidential. The Company understands and confirms that each Purchaser shall be relying on the foregoing covenant in effecting transactions in securities of the Company. To the extent that the Company, any of its Subsidiaries, or any of
    their respective officers, directors, agents, employees or Affiliates delivers any material, non-public information to a Purchaser without such Purchaser’s consent, the Company hereby covenants and agrees that such Purchaser shall not have any duty of
    confidentiality to the Company, any of its Subsidiaries, or any of their respective officers, directors, employees, Affiliates or agents, including, without limitation, the Placement Agent, or a duty to the Company, any of its Subsidiaries or any of
    their respective officers, directors, employees, Affiliates or agents, including, without limitation, the Placement Agent, not to trade on the basis of, such material, non-public information, provided that the Purchaser shall remain subject to
    Applicable Law. To the extent that any notice provided pursuant to any Transaction Document constitutes, or contains, material, non-public information regarding the Company or any Subsidiaries, the Company shall simultaneously with the delivery of such
    notice file such notice with the Commission pursuant to a Current Report on Form 6-K. The Company understands and confirms that each Purchaser shall be relying on the foregoing covenant in effecting transactions in securities of the Company.

   

  4.7       Use of Proceeds. The Company shall use the net proceeds from the sale of the Securities hereunder as disclosed in the Prospectus
    and shall not use such proceeds for the settlement of any outstanding litigation or in violation of FCPA or OFAC regulations.

   

  
  
    	 	 	 

  

  
     

  

  
  

   

  4.8       Indemnification of Purchasers. Subject to the provisions of this Section 4.8, the Company will indemnify and hold each Purchaser
    and its directors, officers, shareholders, members, partners, employees and agents (and any other Persons with a functionally equivalent role of a Person holding such titles notwithstanding a lack of such title or any other title), each Person who
    controls such Purchaser (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act), and the directors, officers, shareholders, agents, members, partners or employees (and any other Persons with a functionally equivalent
    role of a Person holding such titles notwithstanding a lack of such title or any other title) of such controlling persons (each, a “Purchaser Party”) harmless from any and all losses, liabilities, obligations, claims, contingencies, damages,
    costs and expenses, including all judgments, amounts paid in settlements, court costs and reasonable attorneys’ fees and costs of investigation that any such Purchaser Party may suffer or incur as a result of or relating to (a) any breach of any of the
    representations, warranties, covenants or agreements made by the Company in this Agreement or in the other Transaction Documents or (b) any action instituted against the Purchaser Parties in any capacity, or any of them or their respective Affiliates,
    by any stockholder of the Company who is not an Affiliate of such Purchaser Party, with respect to any of the transactions contemplated by the Transaction Documents (unless such action is solely based upon a material breach of such Purchaser Party’s
    representations, warranties or covenants under the Transaction Documents or any agreements or understandings such Purchaser Party may have with any such stockholder or any violations by such Purchaser Party of state or federal securities laws or any
    conduct by such Purchaser Party which is finally judicially determined to constitute fraud, gross negligence or willful misconduct). If any action shall be brought against any Purchaser Party in respect of which indemnity may be sought pursuant to this
    Agreement, such Purchaser Party shall promptly notify the Company in writing, and the Company shall have the right to assume the defense thereof with counsel of its own choosing reasonably acceptable to the Purchaser Party. Any Purchaser Party shall
    have the right to employ separate counsel in any such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Purchaser Party except to the extent that (i) the employment thereof has been
    specifically authorized by the Company in writing, (ii) the Company has failed after a reasonable period of time to assume such defense and to employ counsel or (iii) in such action there is, in the reasonable opinion of counsel, a material conflict on
    any material issue between the position of the Company and the position of such Purchaser Party, in which case the Company shall be responsible for the reasonable fees and expenses of no more than one such separate counsel. The Company will not be
    liable to any Purchaser Party under this Agreement (y) for any settlement by a Purchaser Party effected without the Company’s prior written consent, which shall not be unreasonably withheld or delayed; or (z) to the extent, but only to the extent that
    a loss, claim, damage or liability is attributable to any Purchaser Party’s breach of any of the representations, warranties, covenants or agreements made by such Purchaser Party in this Agreement or in the other Transaction Documents. The
    indemnification required by this Section 4.8 shall be made by periodic payments of the amount thereof during the course of the investigation or defense, as and when bills are received or are incurred. The indemnity agreements contained herein shall be
    in addition to any cause of action or similar right of any Purchaser Party against the Company or others and any liabilities the Company may be subject to pursuant to law.

   

  4.9       Reservation of Common Shares. As of the date hereof, the Company has reserved and the Company shall continue to reserve and keep
    available at all times, free of preemptive rights, a sufficient number of Common Shares for the purpose of enabling the Company to issue Shares pursuant to this Agreement and Warrant Shares pursuant to any exercise of the Warrants.

   

  4.10       Listing of Common Shares. The Company hereby agrees to use commercially reasonable best efforts to maintain the listing or
    quotation of the Common Shares on the Trading Market on which it is currently listed, and concurrently with the Closing, the Company shall apply to list or quote all of the Shares and Warrant Shares on such Trading Market and promptly secure the
    listing of all of the Shares and Warrant Shares on such Trading Market. The Company further agrees, if the Company applies to have the Common Shares traded on any other Trading Market, it will then include in such application all of the Shares and
    Warrant Shares, and will take such other action as is necessary to cause all of the Shares and Warrant Shares to be listed or quoted on such other Trading Market as promptly as possible. The Company will then take all action reasonably necessary to
    continue the listing and trading of its Common Shares on a Trading Market and will comply in all respects with the Company’s reporting, filing and other obligations under the bylaws or rules of the Trading Market. The Company agrees to maintain the
    eligibility of the Common Shares for electronic transfer through the Depository Trust Company or another established clearing corporation, including, without limitation, by timely payment of fees to the Depository Trust Company or such other
    established clearing corporation in connection with such electronic transfer.

   

  
  
    	 	 	 

  

  
     

  

  
   

  

  4.11       Board Composition and Board Designations; Internal Controls. The Company shall ensure that: (i) the qualifications of the persons
    serving as board members and the overall composition of the Board of Directors comply with the Sarbanes-Oxley Act of 2002 and the rules promulgated thereunder and with the listing requirements of the Trading Market and (ii) if applicable, at least one
    member of the Board of Directors qualifies as a “financial expert” as such term is defined under the Sarbanes-Oxley Act of 2002 and the rules promulgated thereunder. The Company will maintain a system of internal accounting controls sufficient to
    provide reasonable assurances that: (i) transactions are executed in accordance with management’s general or specific authorization; (ii) transactions are recorded as necessary in order to permit preparation of financial statements in accordance with
    GAAP and to maintain accountability for assets; (iii) access to assets is permitted only in accordance with management’s general or specific authorization; and (iv) the recorded accountability for assets is compared with existing assets at reasonable
    intervals and appropriate action is taken with respect to any differences.

   

  4.12       Reserved.

   

  4.13       Certain Transactions and Confidentiality. Each Purchaser, severally and not jointly with the other Purchasers, covenants that
    neither it nor any Affiliate acting on its behalf or pursuant to any understanding with it will execute any purchases or sales, including Short Sales of any of the Company’s securities during the period commencing with the execution of this Agreement
    and ending at such time that the transactions contemplated by this Agreement are first publicly announced pursuant to the initial press release as described in Section 4.4.  Each Purchaser, severally and not jointly with the other Purchasers, covenants
    that until such time as the transactions contemplated by this Agreement are publicly disclosed by the Company pursuant to the initial press release as described in Section 4.4, such Purchaser will maintain the confidentiality of the existence and terms
    of this transaction (other than as disclosed to its legal and other representatives).  Notwithstanding the foregoing and notwithstanding anything contained in this Agreement to the contrary, the Company expressly acknowledges and agrees that (i) no
    Purchaser makes any representation, warranty or covenant hereby that it will not engage in effecting transactions in any securities of the Company after the time that the transactions contemplated by this Agreement are first publicly announced pursuant
    to the initial press release as described in Section 4.4, (ii) no Purchaser shall be restricted or prohibited from effecting any transactions in any securities of the Company in accordance with applicable securities laws from and after the time that
    the transactions contemplated by this Agreement are first publicly announced pursuant to the initial press release as described in Section 4.4 and (iii) no Purchaser shall have any duty of confidentiality or duty not to trade in the securities of the
    Company to the Company, any of its Subsidiaries, or any of their respective officers, directors, employees, Affiliates, or agent, including, without limitation, the Placement Agent, after the issuance of the initial press release as described in
    Section 4.4.  Notwithstanding the foregoing, in the case of a Purchaser that is a multi-managed investment vehicle whereby separate portfolio managers manage separate portions of such Purchaser’s assets and the portfolio managers have no direct
    knowledge of the investment decisions made by the portfolio managers managing other portions of such Purchaser’s assets, the covenant set forth above shall only apply with respect to the portion of assets managed by the portfolio manager that made the
    investment decision to purchase the Securities covered by this Agreement.

   

  
  
    	 	 	 

  

  
     

  

  
  

    

   

  4.14       Exercise Procedures. The form of Notice of Exercise included in the Warrants set forth the totality of the procedures required of
    the Purchasers in order to exercise the Warrants. No additional legal opinion, other information or instructions shall be required of the Purchasers to exercise their Warrants. Without limiting the preceding sentences, no ink-original Notice of
    Exercise shall be required, nor shall any medallion guarantee (or other type of guarantee or notarization) of any Notice of Exercise form be required in order to exercise the Warrants. The Company shall honor exercises of the Warrants and shall deliver
    Warrant Shares in accordance with the terms, conditions and time periods set forth in the Transaction Documents.

   

  4.15       Accountants. For a period of three (3) years from the Effective Date, the Company shall continue to retain the Auditor or another
    nationally recognize independent registered public accounting firm with experience in the maritime industry.

   

  4.16       Transfer Agent. For a period of two (2) years from the Closing Date, the Company shall retain the Transfer Agent or a nationally
    recognized transfer and registrar agent.

   

  4.17       Review of Financial Statements. For a period of three (3) years from the Closing Date or until such earlier time as no Warrants
    remain outstanding, the Company, at its expense, shall cause its regularly engaged independent registered public accountants to review (but not audit) the Company’s financial information for its semi-annual report covering the six-month period ended
    June 30.

   

  4.18       Exchange Act Registration. For a period of three years from the Closing Date, the Company will use its best efforts to maintain
    the registration of the Common Shares under the Exchange Act. The Company will not voluntarily deregister the Common Shares under the Exchange Act without the prior written consent of the Placement Agent.

   

  ARTICLE V.

    MISCELLANEOUS

   

  5.1       Termination.  This Agreement may be terminated by any Purchaser, as to such Purchaser’s obligations hereunder only and without any
    effect whatsoever on the obligations between the Company and the other Purchasers, by written notice to the other parties, if the Closing has not been consummated on or before the fifth (5th) Trading Day following the date hereof; provided, however, that no such termination will affect the right of any party to sue for any breach by any other party (or parties).

   

  5.2       Fees and Expenses. Except as expressly set forth in the Transaction Documents to the contrary, each party shall pay the fees and
    expenses of its advisers, counsel, accountants and other experts, if any, and all other expenses incurred by such party incident to the negotiation, preparation, execution, delivery and performance of this Agreement. The Company shall pay all Transfer
    Agent fees (including, without limitation, any fees required for same-day processing of any instruction letter delivered by the Company and any exercise notice delivered by a Purchaser), stamp taxes and other taxes and duties levied in connection with
    the delivery of any Securities to the Purchasers.

   

  
  
    	 	 	 

  

  
     

  

  
  

   

  5.3       Entire Agreement. The Transaction Documents, together with the exhibits and schedules thereto, the Pricing Prospectus and the
    Prospectus, contain the entire understanding of the parties with respect to the subject matter hereof and thereof and supersede all prior agreements and understandings, oral or written, with respect to such matters, which the parties acknowledge have
    been merged into such documents, exhibits and schedules.

   

  5.4       Notices. Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in
    writing and shall be deemed given and effective on the earliest of: (a) the time of transmission, if such notice or communication is delivered via email attachment at the email address as set forth on the signature pages attached hereto at or prior to
    5:30 p.m. (New York City time) on a Trading Day, (b) the next Trading Day after the time of transmission, if such notice or communication is delivered via email attachment at the email address as set forth on the signature pages attached hereto on a
    day that is not a Trading Day or later than 5:30 p.m. (New York City time) on any Trading Day, (c) the second (2nd) Trading Day following the date of mailing, if sent by
    U.S. nationally recognized overnight courier service or (d) upon actual receipt by the party to whom such notice is required to be given. The address for such notices and communications shall be as set forth on the signature pages attached hereto. To
    the extent that any notice provided pursuant to any Transaction Document constitutes, or contains, material, non-public information regarding the Company or any Subsidiaries, the Company shall simultaneously file such notice with the Commission
    pursuant to a Current Report on Form 6-K.

   

  5.5       Amendments; Waivers. No provision of this Agreement may be waived, modified, supplemented or amended except in a written instrument
    signed, in the case of an amendment, by the Company and Purchasers which purchased at least 50.1% in interest of the Shares based on the initial Subscription Amounts hereunder (or, prior to the Closing, the Company and each Purchaser) or, in the case
    of a waiver, by the party against whom enforcement of any such waived provision is sought, provided that if any amendment, modification or waiver disproportionately and adversely impacts a Purchaser (or group of Purchasers), the consent of such
    disproportionately impacted Purchaser (or group of Purchasers) shall also be required. No waiver of any default with respect to any provision, condition or requirement of this Agreement shall be deemed to be a continuing waiver in the future or a
    waiver of any subsequent default or a waiver of any other provision, condition or requirement hereof, nor shall any delay or omission of any party to exercise any right hereunder in any manner impair the exercise of any such right. Any proposed
    amendment or waiver that disproportionately, materially and adversely affects the rights and obligations of any Purchaser relative to the comparable rights and obligations of the other Purchasers shall require the prior written consent of such
    adversely affected Purchaser. Any amendment effected in accordance with this Section 5.5 shall be binding upon each Purchaser and holder of Securities and the Company.

   

  5.6       Headings. The headings herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed to limit
    or affect any of the provisions hereof.

   

  
  
    	 	 	 

  

  
     

  

  
  

   

  5.7       Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and
    permitted assigns. The Company may not assign this Agreement or any rights or obligations hereunder without the prior written consent of each Purchaser (other than by merger). Any Purchaser may assign any or all of its rights under this Agreement to
    any Person to whom such Purchaser assigns or transfers any Securities, provided that such transferee agrees in writing to be bound, with respect to the transferred Securities, by the provisions of the Transaction Documents that apply to the
    “Purchasers.”

   

  5.8       No Third-Party Beneficiaries. The Placement Agent shall be the third party beneficiary of the representations and warranties of the
    Company in Section 3.1 and the representations and warranties of the Purchasers in Section 3.2. This Agreement is intended for the benefit of the parties hereto and their respective successors and permitted assigns and is not for the benefit of, nor
    may any provision hereof be enforced by, any other Person, except as otherwise set forth in Section 4.8 and this Section 5.8.

   

  5.9       Governing Law; Venue; Agent for Process. All questions concerning the
      construction, validity, enforcement and interpretation of the Transaction Documents shall be governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflicts of law
      thereof. Each party agrees that all legal Proceedings concerning the interpretations, enforcement and defense of the transactions contemplated by this Agreement and any other Transaction Documents (whether brought against a party hereto or its
      respective affiliates, directors, officers, shareholders, partners, members, employees or agents) shall be commenced exclusively in the state and federal courts sitting in the City of New York. Each party hereby irrevocably submits to the exclusive
      jurisdiction of the state and federal courts sitting in the City of New York, Borough of Manhattan for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein (including with
      respect to the enforcement of any of the Transaction Documents), and hereby irrevocably waives, and agrees not to assert in any Action or Proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such Action
      or Proceeding is improper or is an inconvenient venue for such Proceeding. Each party hereby irrevocably waives personal service of process and, to the extent permitted by law, consents to process being served in any such Action or Proceeding by
      mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient
      service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted by law. In addition to and without limiting the foregoing, the Company has appointed Watson
      Farley & Williams LLP, 250 West 55th Street, 31st Floor, New York, New York 10019, as its authorized agent (the “Authorized Agent”) upon whom process may be served in any suit, action or proceeding arising out of or based upon the Transaction
      Documents or the transactions contemplated herein which may be instituted in any New York Court, and expressly accept the non-exclusive jurisdiction of any such court in respect of any such suit, action or proceeding. The Company hereby represents
      and warrants that the Authorized Agent has accepted such appointment and has agreed to act as said agent for service of process, and the Company agrees to take any and all action, including the filing of any and all documents that may be necessary to
      continue such appointment in full force and effect as aforesaid. The Company hereby authorizes and directs the Authorized Agent to accept such service. Service of process upon the Authorized Agent shall be deemed, in every respect, effective
    service of process upon the Company. If the Authorized Agent shall cease to act as agent for service of process, the Company shall appoint, without unreasonable delay, another such agent in the United States, and notify you of such appointment. This
    paragraph shall survive any termination of this Agreement, in whole or in part. The Company agrees that a final judgment in any such action, proceeding or counterclaim brought in any such court shall be conclusive and binding upon the Company and may
    be enforced in any other courts to the jurisdiction of which the Company is or may be subject, by suit upon such judgment.

   

  
  
    	 	 	 

  

  
     

  

  
  

   

  5.10       Survival. The representations and warranties contained herein shall survive the Closing and the delivery of the Securities.

   

  5.11       Execution. This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered one
    and the same agreement and shall become effective when counterparts have been signed by each party and delivered to each other party, it being understood that the parties need not sign the same counterpart. In the event that any signature is delivered
    by e-mail delivery of a “.pdf” format data 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 “.pdf” signature page were an
    original thereof.

   

  5.12       Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be
    invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall
    use their commercially reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the
    intention of the parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or unenforceable.

   

  5.13       Rescission and Withdrawal Right. Notwithstanding anything to the contrary contained in (and without limiting any similar
    provisions of) any of the other Transaction Documents, whenever any Purchaser exercises a right, election, demand or option under a Transaction Document and the Company does not timely perform its related obligations within the periods therein
    provided, then such Purchaser may rescind or withdraw, in its sole discretion from time to time upon written notice to the Company, any relevant notice, demand or election in whole or in part without prejudice to its future actions and rights; provided,
    however, that, in the case of a rescission of an exercise of a Warrant, the applicable Purchaser shall be required to return any Common Shares subject to any such rescinded exercise notice concurrently with the return to such Purchaser of the
    aggregate exercise price paid to the Company for such shares and the restoration of such Purchaser’s right to acquire such shares pursuant to such Purchaser’s Warrant (including, issuance of a replacement warrant certificate evidencing such restored
    right).

   

  5.14       Replacement of Securities. If any certificate or instrument evidencing any Securities is mutilated, lost, stolen or destroyed, the
    Company shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof (in the case of mutilation), or in lieu of and substitution therefor, a new certificate or instrument, but only upon receipt of evidence reasonably
    satisfactory to the Company of such loss, theft or destruction. The applicant for a new certificate or instrument under such circumstances shall also pay any reasonable third-party costs (including customary indemnity) associated with the issuance of
    such replacement Securities.

   

  
  
    	 	 	 

  

  
     

  

  
   

  

  5.15       Remedies. In addition to being entitled to exercise all rights provided herein or granted by law, including recovery of damages,
    each of the Purchasers and the Company will be entitled to specific performance under the Transaction Documents. The parties agree that monetary damages may not be adequate compensation for any loss incurred by reason of any breach of obligations
    contained in the Transaction Documents and hereby agree to waive and not to assert in any Action for specific performance of any such obligation the defense that a remedy at law would be adequate.

   

  5.16       Payment Set Aside. To the extent that the Company makes a payment or payments to any Purchaser pursuant to any Transaction
    Document or a Purchaser enforces or exercises its rights thereunder, and such payment or payments or the proceeds of such enforcement or exercise or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside,
    recovered from, disgorged by or are required to be refunded, repaid or otherwise restored to the Company, a trustee, receiver or any other Person under any law (including, without limitation, any bankruptcy law, state or federal law, common law or
    equitable cause of action), then to the extent of any such restoration the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such enforcement
    or setoff had not occurred.

   

  5.17       Independent Nature of Purchasers’ Obligations and Rights. The obligations of each Purchaser under any Transaction Document are
    several and not joint with the obligations of any other Purchaser, and no Purchaser shall be responsible in any way for the performance or non-performance of the obligations of any other Purchaser under any Transaction Document. Nothing contained
    herein or in any other Transaction Document, and no action taken by any Purchaser pursuant hereto or thereto, shall be deemed to constitute the 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 the Transaction Documents. Each Purchaser shall be entitled to independently protect and enforce its
    rights including, without limitation, the rights arising out of this Agreement or out of the other Transaction Documents, and it shall not be necessary for any other Purchaser to be joined as an additional party in any Proceeding for such purpose. Each
    Purchaser has been represented by its own separate legal counsel in its review and negotiation of the Transaction Documents. For reasons of administrative convenience only, each Purchaser and its respective counsel have chosen to communicate with the
    Company through the Placement Agent Counsel. The Placement Agent Counsel does not represent any of the Purchasers and only represents the Placement Agent. The Company has elected to provide all Purchasers with the same terms and Transaction Documents
    for the convenience of the Company and not because it was required or requested to do so by any of the Purchasers. It is expressly understood and agreed that each provision contained in this Agreement and in each other Transaction Document is between
    the Company and a Purchaser, solely, and not between the Company and the Purchasers collectively and not between and among the Purchasers.

   

  5.18       Liquidated Damages. The Company’s obligations to pay any partial liquidated damages or other amounts owing under the Transaction
    Documents is a continuing obligation of the Company and shall not terminate until all unpaid partial liquidated damages and other amounts have been paid notwithstanding the fact that the instrument or security pursuant to which such partial liquidated
    damages or other amounts are due and payable shall have been canceled.

   

  
  
    	 	 	 

  

  
     

  

  
   

  

  5.19       Saturdays, Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right
    required or granted herein shall not be a Business Day, then such action may be taken or such right may be exercised on the next succeeding Business Day.

   

  5.20       Construction. The parties agree that each of them and/or their respective counsel have reviewed and had an opportunity to revise
    the Transaction Documents and, therefore, the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of the Transaction Documents or any amendments
    thereto. In addition, each and every reference to share prices and Common Shares in any Transaction Document shall be subject to adjustment for reverse and forward stock splits, stock dividends, stock combinations and other similar transactions of the
    Common Shares that occur after the date of this Agreement. All references herein to matters disclosed within filings made by the Company with the Commission shall be construed to include documents incorporated by reference into such filings.

   

  5.21       WAIVER OF JURY TRIAL. IN ANY ACTION, SUIT, OR PROCEEDING IN ANY JURISDICTION BROUGHT BY ANY PARTY AGAINST ANY OTHER PARTY,
        THE PARTIES EACH KNOWINGLY AND INTENTIONALLY, TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY ABSOLUTELY, UNCONDITIONALLY, IRREVOCABLY AND EXPRESSLY WAIVES FOREVER TRIAL BY JURY. 

   

  (Signature Pages Follow)

   

  
  
    	 	 	 

  

  
     

  

  
  

   

  IN WITNESS WHEREOF, the parties hereto have caused this Securities Purchase Agreement to be duly executed by their respective authorized
    signatories as of the date first indicated above.

   

  	UNITED MARITIME CORPORATION	Address for Notice:
	 	 	 
	 	 	Attention:
	 	 	Email:
	 	 	 
	By:	

        	 
	 	Name: 

        	 
	 	Title: 

        	 
	With a copy to (which shall not constitute notice):	 
	 	 
	
          Watson Farley & Williams LLP

          250 West 55th Street, 31st
            Floor, New York, NY 10019

          Attention:

          Email:

        	 

   

  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK

  SIGNATURE PAGE FOR PURCHASER FOLLOWS]

   

  
  
    	 	 	 

  

  
     

  

  
  

   

  [PURCHASER SIGNATURE PAGES TO USEA SECURITIES PURCHASE AGREEMENT]

   

  IN WITNESS WHEREOF, the undersigned have caused this Securities Purchase Agreement to be duly executed by their respective authorized signatories
    as of the date first indicated above.

   

  Name of Purchaser: ________________________________________________________

  Signature of Authorized Signatory of Purchaser: _________________________________

  Name of Authorized Signatory: _______________________________________________

  Title of Authorized Signatory: ________________________________________________

  Email Address of Authorized Signatory: _________________________________________

  Address for Notice to Purchaser:

   

  Address for Delivery of Securities to Purchaser (if not same as address for notice):

   

  DWAC for Delivery of Shares:

   

  Common Unit Subscription Amount: $_________________

   

  Common Units: _________________

   

  Shares: _________________

   

  Common Warrant Shares: _________________ Beneficial Ownership Blocker  ̈ 4.99% or  ̈ 9.99%

   

  Prefunded Unit Subscription Amount: $_________________

   

  Prefunded Units: _________________

   

  Prefunded Warrant Shares: ___________ Beneficial Ownership Blocker  ̈ 4.99% or  ̈ 9.99%

   

  Common Warrant Shares: __________________ Beneficial Ownership Blocker  ̈ 4.99% or  ̈ 9.99%

   

  EIN Number: ____________________

   

  
  
    	 	 	 

  

  
     

  

  
  

   

  o Notwithstanding anything contained in this Agreement to the contrary, by checking this box (i) the obligations of the
    above-signed to purchase the securities set forth in this Agreement to be purchased from the Company by the above-signed, and the obligations of the Company to sell such securities to the above-signed, shall be unconditional and all conditions to
    Closing shall be disregarded, (ii) the Closing shall occur on the second (2nd) Trading Day following the date of this Agreement and (iii) any condition to Closing
    contemplated by this Agreement (but prior to being disregarded by clause (i) above) that required delivery by the Company or the above-signed of any agreement, instrument, certificate or the like or purchase price (as applicable) shall no longer be a
    condition and shall instead be an unconditional obligation of the Company or the above-signed (as applicable) to deliver such agreement, instrument, certificate or the like or purchase price (as applicable) to such other party on the Closing Date.

   

  [SIGNATURE PAGES CONTINUE]

   

  
  
    	 	 	 

  

  
     

  

  
   

   

  Schedule AExhibit 4.3

  

  
  
     

  

  
  

   

  United Maritime Corporation

   

  and

   

  American Stock Transfer & Trust Company,
    LLC, as

  Warrant Agent

    

  
  
     

  

  
  

   

  Warrant Agency Agreement

   

  Dated as of July 19, 2022

   

  
  
    			 

  

  
     

  

  
    

  WARRANT AGENCY AGREEMENT

   

  WARRANT AGENCY AGREEMENT,
    dated as of July 19, 2022 (“Agreement”), between United Maritime Corporation, a corporation organized under
    the laws of the Republic of the Marshall Islands (the “Company”), and American Stock Transfer & Trust Company,
    LLC, a New York limited liability trust company (“AST” or the “Warrant Agent”).

   

  WITNESSETH

   

  WHEREAS, pursuant
    to a registered offering by the Company of (1) 8,000,000 Units (the “Offering”), with each Unit consisting of
    either (i) one common share of the Company, par value $0.0001 per share (the “Common Stock”) or (ii) one pre-funded
    warrant (collectively, the “Pre-Funded Warrants”) to purchase one share of Common Stock and one Class A warrant
    (collectively, the “Class A Warrants”, together with the Pre-Funded Warrants, the “Warrants”,
    and the shares of Common Stock issuable upon exercise of the Warrants, the “Warrant Shares”) to purchase one
    share of Common Stock at a price of $3.25 per share; and

   

  WHEREAS, upon the
    terms and subject to the conditions hereinafter set forth and pursuant to an effective registration statement on Form F-1, as amended
    (File No. 333-266099) (the “Registration Statement”), and the terms and conditions of the Warrant Certificate,
    the Company wishes to issue the Warrants in book entry form entitling the respective holders of the Warrants (the “Holders,”
    which term shall include a Holder’s transferees, successors and assigns and “Holder” shall include, if the Warrants
    are held in “street name,” a Participant (as defined below) or a designee appointed by such Participant); and

   

  WHEREAS, the Company
    wishes the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing so to act, in connection with the issuance,
    registration, transfer, exchange, exercise and replacement of the Warrants and, pursuant to a Transfer Agency Agreement previously
    entered into between the Company and Warrant Agent, in the Warrant Agent’s capacity as the Company’s transfer agent,
    the delivery of the Warrant Shares.

   

  NOW, THEREFORE, in
    consideration of the premises and the mutual agreements herein set forth, the parties hereby agree as follows:

   

  Section 1. Certain
      Definitions. For purposes of this Agreement, all capitalized terms not herein defined shall have the meanings hereby indicated:

   

  (a) “Affiliate”
    has the meaning ascribed to it in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”).

   

  (b) “Business
      Day” means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or
    any day on which the Nasdaq Stock Market is authorized or required by law or other governmental action to close.

   

  (c) “Close
      of Business” on any given date means 5:00 p.m., New York City time, on such date; provided, however, that
    if such date is not a Business Day it means 5:00 p.m., New York City time, on the next succeeding Business Day.

   

  (d) “Person”
    means an individual, corporation, association, partnership, limited liability company, joint venture, trust, unincorporated organization,
    government or political subdivision thereof or governmental agency or other entity.

   

  (e) “Warrant
      Certificate” means a certificate in substantially the form attached as Exhibit 1A (as it relates to the Class
    A Warrants) or Exhibit 1B (as it relates to the Pre-Funded Warrants) hereto, representing such number of Warrant Shares
    as is indicated therein, provided that any reference to the delivery of a Warrant Certificate in this Agreement shall include delivery
    of a Definitive Certificate or a Global Warrant (each as defined below).

   

  
  
    	 	2	 

  

  
     

  

  
    

  All other capitalized
    terms used but not otherwise defined herein shall have the meaning ascribed to such terms in the Warrant Certificate.

   

  Section 2. Appointment
      of Warrant Agent. The Company hereby appoints the Warrant Agent to act as agent for the Company in accordance with the express
    terms and conditions hereof, and the Warrant Agent hereby accepts such appointment.

   

  Section 3. Global
      Warrants.

   

  (a) The Warrants shall
    be registered securities and shall be evidenced by a global warrant (the “Global Warrants”), in the form of
    the Warrant Certificate, which shall be deposited with the Warrant Agent and registered in the name of Cede & Co., a nominee
    of The Depository Trust Company (the “Depositary”), or as otherwise directed by the Depositary. Ownership of
    beneficial interests in the Warrants shall be shown on, and the transfer of such ownership shall be effected through, records maintained
    by (i) the Depositary or its nominee for each Global Warrant or (ii) institutions that have accounts with the Depositary (such
    institution, with respect to a Warrant in its account, a “Participant”).

   

  (b) If the Depositary
    subsequently ceases to make its book-entry settlement system available for the Warrants, the Company may instruct the Warrant Agent
    regarding other arrangements for book-entry settlement. In the event that the Warrants are not eligible for, or it is no longer
    necessary to have the Warrants available in, book-entry form, the Warrant Agent shall provide written instructions to the Depositary
    to deliver to the Warrant Agent for cancellation each Global Warrant, and the Company shall instruct the Warrant Agent to deliver
    to each Holder a Warrant Certificate.

   

  (c) A Holder has the
    right to elect at any time or from time to time a Warrant Exchange (as defined below) pursuant to a Warrant Certificate Request
    Notice (as defined below). Upon written notice by a Holder to the Company and the Warrant Agent for the exchange of some or all
    of such Holder’s Global Warrants for a separate certificate in the form attached hereto as Exhibit 1A or Exhibit
      1B, as the case may be (such separate certificate, a “Definitive Certificate”), evidencing the same number
    of Warrants, which request shall be in the form attached hereto as Exhibit 2 (a “Warrant Certificate Request Notice”
    and the date of delivery of such Warrant Certificate Request Notice by the Holder, the “Warrant Certificate Request Notice
      Date” and the surrender by the Holder to the Warrant Agent of a number of Global Warrants for the same number of Warrants
    evidenced by a Warrant Certificate, a “Warrant Exchange”), the Company and the Warrant Agent shall promptly
    effect the Warrant Exchange and the Company shall promptly issue and deliver to the Holder a Definitive Certificate for such number
    of Warrants in the name set forth in the Warrant Certificate Request Notice. Such Definitive Certificate shall be dated the original
    issue date of the Warrants, shall be manually executed by an authorized signatory of the Company, shall be in the form attached
    hereto as Exhibit 1A or Exhibit 1B, as the case may be, and shall be reasonably acceptable in all respects to such
    Holder. In connection with a Warrant Exchange, the Company agrees to deliver the Definitive Certificate to the Holder within ten
    (10) Business Days of the Warrant Certificate Request Notice pursuant to the delivery instructions in the Warrant Certificate Request
    Notice (“Warrant Certificate Delivery Date”). If the Company fails for any reason to deliver to the Holder the
    Definitive Certificate subject to the Warrant Certificate Request Notice by the Warrant Certificate Delivery Date, the Company
    shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of Warrant Shares evidenced by such
    Definitive Certificate (based on the VWAP (as defined in the Warrants) of the Common Stock on the Warrant Certificate Request Notice
    Date), $10 per Business Day for each Business Day after such Warrant Certificate Delivery Date until such Definitive Certificate
    is delivered or, prior to delivery of such Warrant Certificate, the Holder rescinds such Warrant Exchange. The Warrant Agent shall
    have no liability for the Company’s failure to deliver to the Holders the Warrant Certificate as set forth in this Section
    3(c). The Company covenants and agrees that, upon the date of delivery of the Warrant Certificate Request Notice, the Holder shall
    be deemed to be the holder of the Definitive Certificate and, notwithstanding anything to the contrary set forth herein, the Definitive
    Certificate shall be deemed for all purposes to contain all of the terms and conditions of the Warrants evidenced by such Warrant
    Certificate and the terms of this Agreement, other than Sections 3(c), 3(d) and 9 herein, shall not apply to the Warrants evidenced
    by the Definitive Certificate. Notwithstanding anything to the contrary contained in this Agreement, in the event of inconsistency
    between any provision in this Agreement and any provision in a Definitive Certificate, as it may from time to time be amended,
    the terms of such Definitive Certificate shall control; provided, that, with respect to the rights, immunities, and obligation
    of the Warrant Agent, this Agreement shall govern and control and the Warrant Agent shall not have any obligation to perform, and
    shall be indemnified by the Company for failure to perform, any acts or duties inconsistent with the Warrant Agent’s procedures.

   

  
  
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  (d)
      A Holder of a Definitive Certificate (pursuant to a Warrant Exchange or otherwise) has the right to elect at any time or from time
      to time a Global Warrants Exchange (as defined below) pursuant to a Global Warrants Request Notice (as defined below). Upon written
      notice by a Holder to the Company for the exchange of some or all of such Holder’s Warrants evidenced by a Definitive Certificate
      for a beneficial interest in Global Warrants held in book-entry form through the Depositary evidencing the same number of Warrants,
      which request shall be in the form attached hereto as Exhibit 3 (a “Global Warrants Request Notice” and
      the date of delivery of such Global Warrants Request Notice by the Holder, the “Global Warrants Request Notice Date”
      and the surrender upon delivery by the Holder of the Warrants evidenced by Definitive Certificates for the same number of Warrants
      evidenced by a beneficial interest in Global Warrants held in book-entry form through the Depositary, a “Global Warrants
        Exchange”), the Company shall promptly effect the Global Warrants Exchange and shall promptly direct the Warrant Agent
      to issue and deliver to the Holder Global Warrants for such number of Warrants in the Global Warrants Request Notice, which beneficial
      interest in such Global Warrants shall be delivered by the Depositary’s Deposit or Withdrawal
      at Custodian system to the Holder pursuant to the instructions in the Global Warrants Request Notice. In connection with a Global
      Warrants Exchange, the Company shall direct the Warrant Agent to deliver the beneficial interest in such Global Warrants to the
      Holder within ten (10) Business Days of the Global Warrants Request Notice pursuant to the delivery instructions in the Global
      Warrant Request Notice (“Global Warrants Delivery Date”). If the Company fails for any reason to deliver to
      the Holder Global Warrants subject to the Global Warrants Request Notice by the Global Warrants Delivery Date, the Company shall
      pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of Warrant Shares evidenced by such Global
      Warrants (based on the VWAP (as defined in the Warrants) of the Common Stock on the Global Warrants Request Notice Date), $10 per
      Business Day for each Business Day after such Global Warrants Delivery Date until such Global Warrants are delivered or, prior
      to delivery of such Global Warrants, the Holder rescinds such Global Warrants Exchange. The Company covenants and agrees that,
      upon the date of delivery of the Global Warrants Request Notice, the Holder shall be deemed to be the beneficial holder of such
      Global Warrants.

   

  Section 4. Form
      of Warrant Certificates. The Warrant Certificate, together with the form of election to purchase Common Stock (“Notice
      of Exercise”) and the form of assignment to be printed on the reverse thereof, shall be in the form of Exhibit 1A
    or Exhibit 1B, as the case may be, hereto.

   

  Section 5. Countersignature
      and Registration. The Global Warrant shall be executed on behalf of the Company by its Chief Executive Officer, Chief Financial
    Officer or Vice President, by facsimile signature. The Global Warrant shall be countersigned by the Warrant Agent by electronic
    or facsimile signature and shall not be valid for any purpose unless so countersigned. In case any officer of the Company who shall
    have signed any of the Global Warrant shall cease to be such officer of the Company before countersignature by the Warrant Agent
    and issuance and delivery by the Company, such Global Warrant, nevertheless, may be countersigned by the Warrant Agent, issued
    and delivered with the same force and effect as though the person who signed such Global Warrant had not ceased to be such officer
    of the Company; and any Global Warrant may be signed on behalf of the Company by any person who, at the actual date of the execution
    of such Global Warrant, shall be a proper officer of the Company to sign such Global Warrant, although at the date of the execution
    of this Agreement any such person was not such an officer.

   

  The Warrant Agent
    will keep or cause to be kept, at one of its offices designated for such purpose, or at the office of one of its agents, books
    for registration and transfer of the Global Warrants issued hereunder. Such books shall show the names and addresses of the respective
    Holders of the Global Warrant, the number of warrants evidenced on the face of each of such Global Warrant and the date of each
    of such Global Warrant. The Warrant Agent will create a special account for the issuance of Global Warrants. The Company will keep
    or cause to be kept at one of its offices designated for such purpose, books for the registration and transfer of any Definitive
    Certificates issued hereunder and the Warrant Agent shall not have any obligation to keep books and records with respect to any
    Definitive Warrants. Such Company books shall show the names and addresses of the respective Holders of the Definitive Certificates,
    the number of warrants evidenced on the face of each such Definitive Certificate and the date of each such Definitive Certificate.

   

  
  
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  Section 6. Transfer,
      Split Up, Combination and Exchange of Warrant Certificates; Mutilated, Destroyed, Lost or Stolen Warrant Certificates. With
    respect to the Global Warrant, subject to the provisions of the Warrant Certificate and the last sentence of this first paragraph
    of Section 6 and subject to applicable law, rules or regulations, or any “stop transfer” instructions the Company may
    give to the Warrant Agent, at any time after the closing date of the Offering, and at or prior to the Close of Business on the
    Termination Date (as such term is defined in the Warrant Certificate), any Global Warrant or Global Warrants may be transferred,
    split up, combined or exchanged for another Global Warrant or Global Warrants, entitling the Holder to purchase a like number of
    shares of Common Stock as the Global Warrant or Global Warrants surrendered then entitled such Holder to purchase. Any Holder desiring
    to transfer, split up, combine or exchange any Global Warrant shall make such request in writing delivered to the Warrant Agent,
    and shall surrender the Global Warrant to be transferred, split up, combined or exchanged at the office of the Warrant Agent designated
    for such purpose and, in the case of registration of transfer, shall provide a signature guarantee by an “eligible guarantor
    institution” that is a member or participant in the Securities Transfer Agents Medallion Program or other comparable “signature
    guarantee program”. Any requested transfer of Warrants, whether in book-entry form or certificate form, shall be accompanied
    by reasonable evidence of authority of the party making such request that may be required by the Warrant Agent. Thereupon the Warrant
    Agent shall, subject to the last sentence of this first paragraph of Section 6, countersign and deliver to the Person entitled
    thereto a Global Warrant or Global Warrants, as the case may be, as so requested. The Company may require payment from the Holder
    of a sum sufficient to cover any tax or governmental charge that may be imposed in connection with any transfer, split up, combination
    or exchange of Global Warrants. The Company shall compensate the Warrant Agent for of all reasonable expenses incidental thereto.
    The Warrant Agent shall not have any duty or obligation to take any action under any section of this Agreement that requires the
    payment of taxes and/or charges unless and until it is satisfied that all such payments have been made.

   

  Upon receipt by the
    Warrant Agent of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation of a Warrant Certificate,
    which evidence shall include an affidavit of loss, or in the case of mutilated certificates, the certificate or portion thereof
    remaining, and, in case of loss, theft or destruction, of indemnity in form and amount satisfactory to the Warrant Agent (including
    the posting of a surety bond), and satisfaction of any other reasonable requirements established by Section 8-405 of the Uniform
    Commercial Code as in effect in the State of New York, and reimbursement to the Company and the Warrant Agent of all reasonable
    expenses incidental thereto, and upon surrender to the Warrant Agent and cancellation of the Warrant Certificate if mutilated,
    the Company will make and deliver a new Warrant Certificate of like tenor to the Warrant Agent for delivery to the Holder in lieu
    of the Warrant Certificate so lost, stolen, destroyed or mutilated.

   

  The Company shall
    provide to the Warrant Agent an opinion of counsel on or prior to the issuance of Warrants to set up a reserve of Warrant Shares
    for the outstanding Warrants. The opinion shall state that all Warrants or Warrant Shares, as applicable, are, (i) registered under
    the Securities Act of 1933, as amended, and (ii) validly issued, fully paid and non-assessable.

   

  Section 7. Exercise
      of Warrants; Exercise Price; Termination Date.

   

  (a) The Warrants shall
    be exercisable commencing on the Issue Date. The Warrants shall cease to be exercisable and shall terminate and become void as
    set forth in the Warrant Certificate. Subject to the foregoing and to Section 7(b) below, the Holder of a Warrant may exercise
    the Warrant in whole or in part upon surrender of the Warrant Certificate, if required, with the executed Notice of Exercise and
    payment of the Exercise Price, which may be made, at the option of the Holder, by wire transfer or by certified or official bank
    check in United States dollars, to the Warrant Agent at the office of the Warrant Agent designated for such purpose from time to
    time. In the case of the Holder of a Global Warrant, the Holder shall deliver the executed Notice of Exercise and the payment of
    the Exercise Price as described herein. Notwithstanding any other provision in this Agreement, a holder whose interest in a Global
    Warrant is a beneficial interest in a Global Warrant held in book-entry form through the Depositary (or another established clearing
    corporation performing similar functions), shall effect exercises by delivering to the Depositary (or such other clearing corporation,
    as applicable) the appropriate instruction form for exercise, complying with the procedures to effect exercise that are required
    by the Depositary (or such other clearing corporation, as applicable). The Company acknowledges that the bank accounts maintained
    by the Warrant Agent in connection with the services provided under this Agreement will be in the Warrant Agent’s name and
    that the Warrant Agent may receive investment earnings in connection with the investment at Warrant Agent risk and for its benefit
    of funds held in those accounts from time to time. Neither the Company nor the Holders will receive interest on any deposits or
    Exercise Price. The Company hereby acknowledges and agrees that, with respect to a holder whose interest in a Global Warrant is
    a beneficial interest in a Global Warrant held in book-entry form through the Depositary (or another established clearing corporation
    performing similar functions), upon delivery of irrevocable instructions to such holder’s Participant to exercise such warrants,
    that solely for purposes of Regulation SHO that such holder shall be deemed to have exercised such warrants.

   

  
  
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  (b) Upon receipt of
    a Notice of Exercise for a Cashless Exercise the Company will promptly calculate and transmit to the Warrant Agent the number of
    Warrant Shares issuable in connection with such Cashless Exercise and deliver a copy of the Notice of Exercise to the Warrant Agent,
    which shall issue such number of Warrant Shares in connection with such Cashless Exercise.

   

  (c) Upon the exercise
    of the Warrant Certificate pursuant to the terms of Section 2 of the Warrant Certificate, the Warrant Agent shall cause the Warrant
    Shares underlying such Warrant Certificate or Global Warrant to be delivered to or upon the order of the Holder of such Warrant
    Certificate or Global Warrant, registered in such name or names as may be designated by such Holder, no later than the Warrant
    Share Delivery Date (as such term is defined in the Warrant Certificate). If the Company is then a participant in the DWAC system
    of the Depositary and either (A) there is an effective registration statement permitting the issuance of the Warrant Shares to
    or resale of the Warrant Shares by Holder or (B) the Warrant is being exercised via Cashless Exercise, then the certificates for
    Warrant Shares shall be transmitted by the Warrant Agent to the Holder by crediting the account of the Holder’s broker with
    the Depositary through its DWAC system. For the avoidance of doubt, if the Company becomes obligated to pay any amounts to any
    Holders pursuant to Section 2(d)(i) or 2(d)(iv) of the Warrant Certificate, such obligation shall be solely that of the Company
    and not that of the Warrant Agent. Notwithstanding anything else to the contrary in this Agreement, except in the case of a Cashless
    Exercise, if any Holder fails to duly deliver payment to the Warrant Agent of an amount equal to the aggregate Exercise Price of
    the Warrant Shares to be purchased upon exercise of such Holder’s Warrant as set forth in Section 7(a) hereof by the Warrant
    Share Delivery Date, the Warrant Agent will not obligated to deliver such Warrant Shares (via DWAC or otherwise) until following
    receipt of such payment, and the applicable Warrant Share Delivery Date shall be deemed extended by one day for each day (or part
    thereof) until such payment is delivered to the Warrant Agent.

   

  (d) All funds received
    by AST under this Agreement that are to be distributed or applied by AST in the performance of the services hereunder (the “Funds”)
    shall be held by AST as agent for the Company and deposited in one or more bank accounts to be maintained by AST in its name as
    agent for the Company. AST shall have no responsibility or liability for any diminution of the Funds that may result from any deposit
    made by AST in accordance with this paragraph, including any losses resulting from a default by any bank, financial institution
    or other third party. AST may from time to time receive interest, dividends or other earnings in connection with such deposits.
    AST shall not be obligated to pay such interest, dividends or earnings to the Company, any holder or any other party.

   

  Section 8. Cancellation
      and Destruction of Warrant Certificates. All Warrant Certificates surrendered for the purpose of exercise, transfer, split
    up, combination or exchange shall, if surrendered to the Company or to any of its agents, be delivered to the Warrant Agent for
    cancellation or in canceled form, or, if surrendered to the Warrant Agent, shall be canceled by it, and no Warrant Certificate
    shall be issued in lieu thereof except as expressly permitted by any of the provisions of this Agreement. The Company shall deliver
    to the Warrant Agent for cancellation and retirement, and the Warrant Agent shall so cancel and retire, any other Warrant Certificate
    purchased or acquired by the Company otherwise than upon the exercise thereof. The Warrant Agent shall deliver all canceled Warrant
    Certificates to the Company, or shall, at the written request of the Company, destroy such canceled Warrant Certificates, and in
    such case shall deliver a certificate of destruction thereof to the Company, subject to any applicable law, rule or regulation
    requiring the Warrant Agent to retain such canceled certificates.

   

  
  
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  Section 9. Certain
      Representations; Reservation and Availability of Shares of Common Stock or Cash.

   

  (a) This Agreement
    has been duly authorized, executed and delivered by the Company and, assuming due authorization, execution and delivery hereof
    by the Warrant Agent, constitutes a valid and legally binding obligation of the Company enforceable against the Company in accordance
    with its terms, and the Warrants have been duly authorized, executed and issued by the Company and, assuming due authentication
    thereof by the Warrant Agent pursuant hereto and payment therefor by the Holders as provided in the Registration Statement, constitute
    valid and legally binding obligations of the Company enforceable against the Company in accordance with their terms and entitled
    to the benefits hereof; in each case except as enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium
    and other similar laws relating to or affecting creditors’ rights generally or by general equitable principles (regardless
    of whether such enforceability is considered in a proceeding in equity or at law).

   

  (b) As of the date
    hereof, the authorized capital stock of the Company consists of (i) 2,000,000,000 common shares, of which approximately 1,512,004 shares of Common Stock are
    issued and outstanding as of July 18, 2022, and 100,000,000
    shares of Common Stock are reserved for issuance upon exercise of the Warrants, and (ii) 100,000,000 shares of preferred stock, par
    value $0.0001 per share, of which 45,000 shares are issued and outstanding. There are no other outstanding obligations, warrants,
    options or other rights to subscribe for or purchase from the Company any class of capital stock of the Company.

   

  (c) The Company covenants
    and agrees that it will cause to be reserved and kept available out of its authorized and unissued shares of Common Stock or its
    authorized and issued shares of Common Stock held in its treasury, free from preemptive rights, the number of shares of Common
    Stock that will be sufficient to permit the exercise in full of all outstanding Warrants.

   

  (d) The Warrant Agent
    will create a special account for the issuance of Common Stock upon the exercise of Warrants.

   

  (e) The Company further
    covenants and agrees that it will pay when due and payable any and all federal and state transfer taxes and charges which may be
    payable in respect of the original issuance or delivery of the Warrant Certificates or certificates evidencing Common Stock upon
    exercise of the Warrants. The Company shall not, however, be required to pay any tax or governmental charge which may be payable
    in respect of any transfer involved in the transfer or delivery of Warrant Certificates or the issuance or delivery of certificates
    for Common Stock in a name other than that of the Holder of the Warrant Certificate evidencing Warrants surrendered for exercise
    or to issue or deliver any certificate for shares of Common Stock upon the exercise of any Warrants until any such tax or governmental
    charge shall have been paid (any such tax or governmental charge being payable by the Holder of such Warrant Certificate at the
    time of surrender) or until it has been established to the Company’s reasonable satisfaction that no such tax or governmental
    charge is due.

   

  Section 10. Common
      Stock Record Date. Each Person in whose name any certificate for shares of Common Stock is issued (or to whose broker’s
    account is credited shares of Common Stock through the DWAC system) upon the exercise of Warrants shall for all purposes be deemed
    to have become the holder of record for the Common Stock represented thereby on, and such certificate shall be dated, the date
    on which submission of the Notice of Exercise was made, provided that the Warrant Certificate evidencing such Warrant is duly surrendered
    (but only if required herein) and payment of the Exercise Price (and any applicable transfer taxes) is received on or prior to
    the Warrant Share Delivery Date; provided, however, that if the date of submission of the Notice of Exercise is a
    date upon which the Common Stock transfer books of the Company are closed, such Person shall be deemed to have become the record
    holder of such shares on, and such certificate shall be dated, the next succeeding day on which the Common Stock transfer books
    of the Company are open.

   

  

  
  
     

  

  
   

  		1	NTD: Company to update

   

  
  
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  Section 11. Adjustment
      of Exercise Price, Number of Shares of Common Stock or Number of the Company Warrants. The Exercise Price, the number of shares
    covered by each Warrant and the number of Warrants outstanding are subject to adjustment from time to time as provided in Section
    3 of the Warrant Certificate. In the event that at any time, as a result of an adjustment made pursuant to Section 3 of the Warrant
    Certificate, the Holder of any Warrant thereafter exercised shall become entitled to receive any shares of capital stock of the
    Company other than shares of Common Stock, thereafter the number of such other shares so receivable upon exercise of any Warrant
    shall be subject to adjustment from time to time in a manner and on terms as nearly equivalent as practicable to the provisions
    with respect to the shares contained in Section 3 of the Warrant Certificate and the provisions of Sections 7, 11 and 12 of this
    Agreement with respect to the shares of Common Stock shall apply on like terms to any such other shares. All Warrants originally
    issued by the Company subsequent to any adjustment made to the Exercise Price pursuant to the Warrant Certificate shall evidence
    the right to purchase, at the adjusted Exercise Price, the number of shares of Common Stock purchasable from time to time hereunder
    upon exercise of the Warrants, all subject to further adjustment as provided herein.

   

  Section 12. Certification
      of Adjusted Exercise Price or Number of Shares of Common Stock. Whenever the Exercise Price or the number of shares of Common
    Stock issuable upon the exercise of each Warrant is adjusted as provided in Section 11 or 13, the Company shall (a) promptly prepare
    a certificate setting forth the Exercise Price of each Warrant as so adjusted, and a brief statement of the facts accounting for
    such adjustment, (b) promptly file with the Warrant Agent and with each transfer agent for the Common Stock a copy of such certificate
    and (c) instruct the Warrant Agent to send a brief summary thereof to each Holder of a Warrant Certificate.

   

  Section 13. Fractional
      Shares of Common Stock.

   

  (a) The Company shall
    not issue fractions of Warrants or distribute Warrant Certificates which evidence fractional Warrants. Whenever any fractional
    Warrant would otherwise be required to be issued or distributed, the actual issuance or distribution shall reflect a rounding of
    such fraction to the nearest whole Warrant (rounded down).

   

  (b) The Company shall
    not issue fractions of shares of Common Stock upon exercise of Warrants or distribute stock certificates which evidence fractional
    shares of Common Stock. Whenever any fraction of a share of Common Stock would otherwise be required to be issued or distributed,
    the actual issuance or distribution in respect thereof shall be made in accordance with Section 2(d)(v) of the Warrant Certificate.

   

  Section 14. Conditions
      of the Warrant Agent’s Obligations. The Warrant Agent accepts its obligations herein set forth upon the express terms
    and conditions hereof, including the following to all of which the Company agrees and to all of which the rights hereunder of the
    Holders from time to time of the Warrant Certificates shall be subject:

   

  		(a)	Compensation and Indemnification. The Company agrees promptly to pay the Warrant Agent the
          compensation detailed in mutually agreed upon fee schedule executed on the date hereof for all services rendered by the Warrant
          Agent and to reimburse the Warrant Agent for reasonable out-of-pocket expenses (including reasonable counsel fees) and other disbursements
          incurred in the preparation, delivery, negotiation, amendment, administration and execution of this Agreement and the exercise
          and performance of its duties hereunder. The Company also agrees to indemnify the Warrant Agent for, and to hold it harmless against,
          any loss, liability or expense incurred without gross negligence, or willful misconduct on the part of the Warrant Agent, finally
          adjudicated by a court of competent jurisdiction to have been directly caused by Warrant Agent hereunder, including the reasonable
          costs and expenses of defending against any claim of such liability. The Warrant Agent shall be under no obligation to institute
          or defend any action, suit, or legal proceeding in connection herewith or to take any other action likely to involve the Warrant
          Agent in expense, unless first indemnified to the Warrant Agent’s satisfaction. The indemnities and compensation provided
          by this paragraph shall survive the resignation or discharge of the Warrant Agent, the expiration of the Warrants or the termination
          of this Agreement. Anything in this Agreement to the contrary notwithstanding, in no event shall the Warrant Agent be liable under
          or in connection with the Agreement for indirect, special, incidental, punitive or consequential losses or damages of any kind
          whatsoever, including but not limited to lost profits, whether or not foreseeable, even if the Warrant Agent has been advised of
          the possibility thereof and regardless of the form of action in which such damages are sought, and the Warrant Agent’s aggregate
          liability to the Company, or any of the Company’s representatives or agents, or any other person or entity under this Section
          14(a) or under any other term or provision of this Agreement, whether in contract, tort, or otherwise, is expressly limited to,
          and shall not exceed in any circumstances, one (1) year’s fees received by the Warrant Agent as fees and charges under this
          Agreement, but not including reimbursable expenses previously reimbursed to the Warrant Agent by the Company hereunder.

   

  
  
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  		(b)	Agent for the Company. In acting under this Agreement and in connection with the Warrant
          Certificates, the Warrant Agent is acting solely as agent of the Company and does not assume any obligations or relationship of
          agency or trust for or with any of the Holders of Warrant Certificates or beneficial owners of Warrants.

   

  		(c)	Counsel. The Warrant Agent may consult with counsel satisfactory to it, which may include
          counsel for the Company, and the advice or opinion of such counsel shall be full and complete authorization and protection in respect
          of any action taken, suffered or omitted by it hereunder in the absence of bad faith in accordance with the advice or opinion of
          such counsel.

   

  		(d)	Documents. The Warrant Agent shall be protected and shall incur no liability for or in respect
          of any action taken or omitted by it in reliance upon any Warrant Certificate, notice, direction, consent, certificate, affidavit,
          statement or other paper or document reasonably believed by it to be genuine and to have been presented or signed by the proper
          parties.

   

  		(e)	Certain Transactions. The Warrant Agent, and its officers, directors and employees, may
          become the owner of, or acquire any interest in, Warrants, with the same rights that it or they would have if it were not the Warrant
          Agent hereunder, and, to the extent permitted by applicable law, it or they may engage or be interested in any financial or other
          transaction with the Company and may act on, or as depositary, trustee or agent for, any committee or body of Holders of Warrant
          Securities or other obligations of the Company as freely as if it were not the Warrant Agent hereunder. Nothing in this Agreement
          shall be deemed to prevent the Warrant Agent from acting as trustee under any indenture to which the Company is a party.

   

  		(f)	No Liability for Interest. Unless otherwise agreed with the Company, the Warrant Agent shall
          have no liability for interest on any monies at any time received by it pursuant to any of the provisions of this Agreement or
          of the Warrant Certificates.

   

  		(g)	No Liability for Invalidity. The Warrant Agent shall have no liability with respect to any
          invalidity of this Agreement or the Warrant Certificates (except as to the Warrant Agent’s countersignature thereon).

   

  		(h)	No Responsibility for Representations. The Warrant Agent shall not be responsible for any
          of the recitals or representations herein or in the Warrant Certificate (except as to the Warrant Agent’s countersignature
          thereon), all of which are made solely by the Company.

   

  		(i)	No Implied Obligations. The Warrant Agent shall be obligated to perform only such duties
          as are herein and in the Warrant Certificates specifically set forth and no implied duties or obligations shall be read into this
          Agreement or the Warrant Certificates against the Warrant Agent. The Warrant Agent shall not be under any obligation to take any
          action hereunder which may tend to involve it in any expense or liability, the payment of which within a reasonable time is not,
          in its reasonable opinion, assured to it. The Warrant Agent shall not be accountable or under any duty or responsibility for the
          use by the Company of any of the Warrant Certificates authenticated by the Warrant Agent and delivered by it to the Company pursuant
          to this Agreement or for the application by the Company of the proceeds of the Warrant Certificate. The Warrant Agent shall have
          no duty or responsibility in case of any default by the Company in the performance of its covenants or agreements contained herein
          or in the Warrant Certificates or in the case of the receipt of any written demand from a Holder of a Warrant Certificate with
          respect to such default, including, without limiting the generality of the foregoing, any duty or responsibility to initiate or
          attempt to initiate any proceedings at law.

   

  
  
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  		(j)	No Notice. The Warrant Agent shall not be required to take notice or be deemed to have notice
          of any event or condition hereunder, including any event or condition that may require action by the Warrant Agent, unless the
          Warrant Agent shall be specifically notified in writing of such event or condition by the Company, and all notices or other instruments
          required by this Agreement to be delivered to the Warrant Agent must, in order to be effective, be received by the Warrant Agent
          as specified in Section 19 hereof, and in the absence of such notice so delivered, the Warrant Agent may conclusively assume no
          such event or condition exists.

   

  Section 15. Purchase
      or Consolidation or Change of Name of Warrant Agent. Any entity into which the Warrant Agent or any successor Warrant Agent
    may be merged or with which it may be consolidated, or any entity resulting from any merger or consolidation to which the Warrant
    Agent or any successor Warrant Agent shall be party, or any entity succeeding to the corporate trust business of the Warrant Agent
    or any successor Warrant Agent, shall be the successor to the Warrant Agent under this Agreement without the execution or filing
    of any paper or any further act on the part of any of the parties hereto, provided that such entity would be eligible for appointment
    as a successor Warrant Agent under the provisions of Section 17. In case at the time such successor Warrant Agent shall succeed
    to the agency created by this Agreement any of the Warrant Certificates shall have been countersigned but not delivered, any such
    successor Warrant Agent may adopt the countersignature of the predecessor Warrant Agent and deliver such Warrant Certificates so
    countersigned; and in case at that time any of the Warrant Certificates shall not have been countersigned, any successor Warrant
    Agent may countersign such Warrant Certificates either in the name of the predecessor Warrant Agent or in the name of the successor
    Warrant Agent; and in all such cases such Warrant Certificates shall have the full force provided in the Warrant Certificates and
    in this Agreement.

   

  In case at any time
    the name of the Warrant Agent shall be changed and at such time any of the Warrant Certificates shall have been countersigned but
    not delivered, the Warrant Agent may adopt the countersignature under its prior name and deliver such Warrant Certificates so countersigned;
    and in case at that time any of the Warrant Certificates shall not have been countersigned, the Warrant Agent may countersign such
    Warrant Certificates either in its prior name or in its changed name; and in all such cases such Warrant Certificates shall have
    the full force provided in the Warrant Certificates and in this Agreement.

   

  Section 16. Duties
      of Warrant Agent. The Warrant Agent undertakes the duties and obligations imposed by this Agreement upon the following express
    terms and conditions, by all of which the Company, by its acceptance hereof, shall be bound:

   

  (a) Whenever in the
    performance of its duties under this Agreement the Warrant Agent shall deem it necessary or desirable that any fact or matter be
    proved or established by the Company prior to taking or suffering any action hereunder, such fact or matter (unless other evidence
    in respect thereof be herein specifically prescribed) may be deemed to be conclusively proved and established by a certificate
    signed by the Chief Executive Officer, Chief Financial Officer or Vice President of the Company; and such certificate shall be
    full authentication to the Warrant Agent for any action taken or suffered in the absence of bad faith by it under the provisions
    of this Agreement in reliance upon such certificate.

   

  (c) Subject to the
    limitation set forth in Section 14, the Warrant Agent shall be liable hereunder only for its own gross negligence or willful misconduct
    (which gross negligence, or willful misconduct must be determined by a final, non-appealable judgment of a court of competent jurisdiction).

   

  
  
    	 	10	 

  

  
     

  

  
    

  (d) The Warrant Agent
    shall not be liable for or by reason of any of the statements of fact or recitals contained in this Agreement or in the Warrant
    Certificate (except its countersignature thereof) by the Company or be required to verify the same, but all such statements and
    recitals are and shall be deemed to have been made by the Company only.

   

  (e) The Warrant Agent
    shall not be under any responsibility in respect of the validity of this Agreement or the execution and delivery hereof (except
    the due execution hereof by the Warrant Agent) or in respect of the validity or execution of any Warrant Certificate (except its
    countersignature thereof); nor shall it be responsible for any breach by the Company of any covenant or condition contained in
    this Agreement or in any Warrant Certificate; nor shall it be responsible for the adjustment of the Exercise Price or the making
    of any change in the number of shares of Common Stock required under the provisions of Section 11 or 13 or responsible for the
    manner, method or amount of any such change or the ascertaining of the existence of facts that would require any such adjustment
    or change (except with respect to the exercise of Warrants evidenced by the Warrant Certificates after actual notice of any adjustment
    of the Exercise Price); nor shall it by any act hereunder be deemed to make any representation or warranty as to the authorization
    or reservation of any shares of Common Stock to be issued pursuant to this Agreement or any Warrant Certificate or as to whether
    any shares of Common Stock will, when issued, be duly authorized, validly issued, fully paid and nonassessable.

   

  (f) Each party hereto
    agrees that it will perform, execute, acknowledge and deliver or cause to be performed, executed, acknowledged and delivered all
    such further and other acts, instruments and assurances as may reasonably be required by the other party hereto for the carrying
    out or performing by any party of the provisions of this Agreement.

   

  (g) The Warrant Agent
    is hereby authorized to accept instructions with respect to the performance of its duties hereunder from the Chief Executive Officer,
    Chief Financial Officer or Vice President of the Company, and to apply to such officers for advice or instructions in connection
    with its duties, and it shall not be liable and shall be indemnified and held harmless for any action taken or suffered to be taken
    by it in accordance with instructions of any such officer, provided Warrant Agent carries out such instructions without gross negligence
    or willful misconduct (which gross negligence or willful misconduct must be determined by a final, non-appealable judgment of a
    court of competent jurisdiction).

   

  (h) The Warrant Agent
    and any shareholder, director, officer or employee of the Warrant Agent may buy, sell or deal in any of the Warrants or other securities
    of the Company or become pecuniarily interested in any transaction in which the Company may be interested, or contract with or
    lend money to the Company or otherwise act as fully and freely as though it were not Warrant Agent under this Agreement. Nothing
    herein shall preclude the Warrant Agent from acting in any other capacity for the Company or for any other legal entity.

   

  (i) The Warrant Agent
    may execute and exercise any of the rights or powers hereby vested in it or perform any duty hereunder either itself or by or through
    its attorneys or agents, and the Warrant Agent shall not be answerable or accountable for any act, omission, default, neglect or
    misconduct of any such attorneys or agents or for any loss to the Company, to the Holder or any other Person resulting from any
    such act, omission, default, neglect or misconduct, absent gross negligence or willful misconduct in the selection and continued
    employment thereof (which gross negligence or willful misconduct must be determined by a final, non-appealable judgment of a court
    of competent jurisdiction).

   

  Section 17. Change
      of Warrant Agent. The Warrant Agent may resign and be discharged from its duties under this Agreement upon 30 days’ notice
    in writing sent to the Company and to each transfer agent of the Common Stock (if known to the Warrant Agent), and to the Holders
    of the Warrant Certificates. In the event the transfer agency relationship in effect between the Company and the Warrant Agent
    terminates, the Warrant Agent will be deemed to have resigned automatically and be discharged from its duties under this Agreement
    as of the effective date of such termination, and the Company shall be responsible for sending any required notice. The Company
    may remove the Warrant Agent or any successor Warrant Agent upon 30 days’ notice in writing, sent to the Warrant Agent or
    successor Warrant Agent, as the case may be, and to each transfer agent of the Common Stock, and to the Holders of the Warrant
    Certificates. If the Warrant Agent shall resign or be removed or shall otherwise become incapable of acting, the Company shall
    appoint a successor to the Warrant Agent. If the Company shall fail to make such appointment within a period of 30 days after such
    removal or after it has been notified in writing of such resignation or incapacity by the resigning or incapacitated Warrant Agent
    or by the Holder of a Warrant Certificate (who shall, with such notice, submit his Warrant Certificate for inspection by the Company),
    then the Holder of any Warrant Certificate may apply to any court of competent jurisdiction for the appointment of a new Warrant
    Agent, provided that, for purposes of this Agreement, the Company shall be deemed to be the Warrant Agent until a new warrant agent
    is appointed. Any successor Warrant Agent, whether appointed by the Company or by such a court, shall be an entity organized and
    doing business under the laws of the United States or of a state thereof, in good standing, which is authorized under such laws
    to exercise corporate trust powers and is subject to supervision or examination by federal or state authority and which has at
    the time of its appointment as Warrant Agent a combined capital and surplus of at least $50,000,000. After appointment, the successor
    Warrant Agent shall be vested with the same powers, rights, duties and responsibilities as if it had been originally named as Warrant
    Agent without further act or deed; but the predecessor Warrant Agent shall deliver and transfer to the successor Warrant Agent
    any property at the time held by it hereunder, and execute and deliver any further assurance, conveyance, act or deed necessary
    for the purpose at the Company’s expense and without further liability to the Warrant Agent. Not later than the effective
    date of any such appointment, the Company shall file notice thereof in writing with the predecessor Warrant Agent and each transfer
    agent of the Common Stock, and mail a notice thereof in writing to the Holders of the Warrant Certificates. However, failure to
    give any notice provided for in this Section 17, or any defect therein, shall not affect the legality or validity of the resignation
    or removal of the Warrant Agent or the appointment of the successor Warrant Agent, as the case may be.

   

  
  
    	 	11	 

  

  
     

  

  
    

  Section 18. Issuance
      of New Warrant Certificates. Notwithstanding any of the provisions of this Agreement or of the Warrants to the contrary, the
    Company may, at its option, issue new Warrant Certificates evidencing Warrants in such form as may be approved by its Board of
    Directors to reflect any adjustment or change in the Exercise Price per share and the number or kind or class of shares of stock
    or other securities or property purchasable under the several Warrant Certificates made in accordance with the provisions of this
    Agreement.

   

  Section 19. Notices.
    Notices or demands authorized by this Agreement to be given or made (i) by the Warrant Agent or by the Holder of any Warrant Certificate
    to or on the Company, (ii) subject to the provisions of Section 17, by the Company or by the Holder of any Warrant Certificate
    to or on the Warrant Agent or (iii) by the Company or the Warrant Agent to the Holder of any Warrant Certificate shall be deemed
    given (a) on the date delivered, if delivered personally, (b) on the first Business Day following the deposit thereof with Federal
    Express or another recognized overnight courier, if sent by Federal Express or another recognized overnight courier, (c) on the
    fourth Business Day following the mailing thereof with postage prepaid, if mailed by registered or certified mail (return receipt
    requested), and (d) the date of transmission, if such notice or communication is delivered via facsimile or email attachment at
    or prior to 5:30 p.m. (New York City time) on a Business Day and (e) the next Business Day after the date of transmission, if such
    notice or communication is delivered via facsimile or email attachment on a day that is not a Business Day or later than 5:30 p.m.
    (New York City time) on any Business Day, in each case to the parties at the following addresses (or at such other address for
    a party as shall be specified by like notice):

   

  	 	(a)	If to the Company, to: 	 
	 	 	 	 
	 	 	United Maritime Corporation	 
	 	 	154 Vouliagmenis Avenue	 
	 	 	166 74 Glyfada	 
	 	 	Greece	 
	 	 	Attention: ________________________	 
	 	 	Email: _________________________	 

   

  	 	(b)	If to the Warrant Agent, to: 	 
	 	 	 	 
	 	 	American Stock Transfer & Trust Company, LLC	 
	 	 	6201 15th Avenue	 
	 	 	Brooklyn, New York 11219	 
	 	 	U.S.A.	 
	 	 	 	 
	 	 	Attention: Reorg Department - Warrants	 
	 	 	Email: reorg_warrants@astfinancial.com	 

   

  
  
    	 	12	 

  

  
     

  

  
    

  For any notice delivered by email to be
    deemed given or made, such notice must be followed by notice sent by overnight courier service to be delivered on the next business
    day following such email, unless the recipient of such email has acknowledged via return email receipt of such email.

   

  (c) If to the Holder
    of any Warrant Certificate to the address of such Holder as shown on the registry books of the Company. Any notice required to
    be delivered by the Company to the Holder of any Warrant may be given by the Warrant Agent on behalf of the Company. Notwithstanding
    any other provision of this Agreement, where this Agreement provides for notice of any event to a Holder of any Warrant, such notice
    shall be sufficiently given if given to the Depositary (or its designee) pursuant to the procedures of the Depositary or its designee.

   

  Section 20. Supplements
      and Amendments.

   

  (a) The Company and
    the Warrant Agent may from time to time supplement or amend this Agreement without the approval of any Holders of Global Warrants
    in order to add to the covenants and agreements of the Company for the benefit of the Holders of the Global Warrants or to surrender
    any rights or power reserved to or conferred upon the Company in this Agreement, provided that such addition or surrender shall
    not adversely affect the interests of the Holders of the Global Warrants or Warrant Certificates in any material respect.

   

  (b) In addition to
    the foregoing, with the consent of Holders of Warrants entitled, upon exercise thereof, to receive not less than a majority of
    the shares of Common Stock issuable thereunder, the Company and the Warrant Agent may modify this Agreement for the purpose of
    adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement or modifying in any manner
    the rights of the Holders of the Global Warrants; provided, however, that no modification of the terms (including
    but not limited to the adjustments described in Section 11) upon which the Warrants are exercisable or the rights of holders of
    Warrants to receive liquidated damages or other payments in cash from the Company or reducing the percentage required for consent
    to modification of this Agreement may be made without the consent of the Holder of each outstanding Warrant Certificate affected
    thereby; provided further, however, that no amendment hereunder shall affect any terms of any Warrant Certificate
    issued in a Warrant Exchange. As a condition precedent to the Warrant Agent’s execution of any amendment, the Company shall
    deliver to the Warrant Agent a certificate from a duly authorized officer of the Company that states that the proposed amendment
    complies with the terms of this Section 20. Notwithstanding anything in this Agreement to the contrary, the Warrant Agent shall
    not be required to execute any supplement or amendment to this Agreement that it has determined would adversely affect its own
    rights, duties, obligations or immunities under this Agreement. No supplement or amendment to this Agreement shall be effective
    unless duly executed by the Warrant Agent.

   

  Section 21. Successors.
    All covenants and provisions of this Agreement by or for the benefit of the Company or the Warrant Agent shall bind and inure to
    the benefit of their respective successors and assigns hereunder.

   

  Section 22. Benefits
      of this Agreement. Nothing in this Agreement shall be construed to give any entity or person other than the Company, the Holders
    of Warrant Certificates and the Warrant Agent any legal or equitable right, remedy or claim under this Agreement. This Agreement
    shall be for the sole and exclusive benefit of the Company, the Warrant Agent and the Holders of the Warrant Certificates. Notwithstanding
    anything to the contrary contained herein, to the extent any provision of a Warrant Certificate conflicts with any provision of
    this Agreement, the provisions of the Warrant Certificate shall govern and be controlling.

   

  
  
    	 	13	 

  

  
     

  

  
    

  Section 23. Governing
      Law. This Agreement and each Warrant Certificate and Global Warrant issued hereunder shall be governed by, and construed in
    accordance with, the laws of the State of Delaware, without giving effect to the conflicts of law principles thereof.

   

  Section 24. Counterparts.
    This Agreement may be executed in any number of counterparts and each of such counterparts shall for all purposes be deemed to
    be an original, and all such counterparts shall together constitute but one and the same instrument.

   

  Section 25. Captions.
    The captions of the sections of this Agreement have been inserted for convenience only and shall not control or affect the meaning
    or construction of any of the provisions hereof.

   

  Section 26. Information.
    The Company agrees to promptly provide to the Holders of the Warrants any information it provides to the holders of the Common
    Stock, except to the extent any such information is publicly available on the EDGAR system (or any successor thereof) of the Securities
    and Exchange Commission.

   

  IN WITNESS WHEREOF,
    the parties hereto have caused this Agreement to be duly executed as of the day and year first above written.

   

  	 	United Maritime Corporation
	 	 
	 	By:	/s/ Stamatios Tsantanis
	 	 	Name:	Stamatios Tsantanis
	 	 	Title:	Chief Executive Officer
	 	 	 	 
	 	American Stock Transfer & Trust Company, LLC
	 	 
	 	By:	/s/ Michael Legregin

        
	 	 	Name:	Michael Legregin
	 	 	Title:	Senior Vice President

   

  
  
    	 	14	 

  

  
     

  

  
    

  Exhibit 1A and Exhibit 1B

   

  Form of Warrant Certificates

  

   

  
  
    			 

  

  
     

  

  
   

  Exhibit 2

  Form of Warrant
      Certificate Request Notice

   

  WARRANT CERTIFICATE
    REQUEST NOTICE

   

  To: American Stock Transfer & Trust
    Company, LLC, as Warrant Agent for United Maritime Corporation (the “Company”)

   

  The undersigned Holder of Common Stock
    Purchase Warrants (“Warrants”) in the form of Global Warrants issued by the Company hereby elects to receive
    a Warrant Certificate evidencing the Warrants held by the Holder as specified below:

   

  	1.	Name of Holder of Warrants in form of Global Warrants: 	 
	 	 	 
	2.	Name of Holder in Warrant Certificate (if different from name of Holder of Warrants in form of Global Warrants): 	 
	 	 	 
	3.	Number of Warrants in name of Holder in form of Global Warrants: 	 
	 	 	 
	4.	Number of Warrants for which Warrant Certificate shall be issued: 	 
	 	 	 
	5.	Number of Warrants in name of Holder in form of Global Warrants after issuance of Warrant Certificate, if any:	 
	 	 	 
	6.	Warrant Certificate shall be delivered to the following address:	 
	 	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 

   

  The undersigned hereby acknowledges and
    agrees that, in connection with this Warrant Exchange and the issuance of the Warrant Certificate, the Holder is deemed to have
    surrendered the number of Warrants in form of Global Warrants in the name of the Holder equal to the number of Warrants evidenced
    by the Warrant Certificate.

   

  	[SIGNATURE OF HOLDER]	 

   

  	Name of Investing Entity: 	 

   

  	Signature of Authorized Signatory of Investing Entity: 	 

   

  	Name of Authorized Signatory: 	 

   

  	Title of Authorized Signatory: 	 

   

  	Date: 	 

   

  
  
    			 

  

  
     

  

  
   

  Exhibit 3

  Form of Global Warrant
      Request Notice

   

  GLOBAL WARRANT REQUEST
    NOTICE

   

  To: American Stock Transfer & Trust
    Company, LLC, as Warrant Agent for United Maritime Corporation (the “Company”)

   

  The undersigned Holder of Common Stock
    Purchase Warrants (“Warrants”) in the form of Warrants Certificates issued by the Company hereby elects to receive
    a Global Warrant evidencing the Warrants held by the Holder as specified below:

   

  	1.	Name of Holder of Warrants in form of Warrant Certificates:	 
	 	 	 
	2.	Name of Holder in Global Warrant (if different from name of Holder of Warrants in form of Warrant Certificates):	 
	 	 	 
	3.	Number of Warrants in name of Holder in form of Warrant Certificates: 	 
	 	 	 
	4.	Number of Warrants for which Global Warrant shall be issued:	 
	 	 	 
	5.	Number of Warrants in name of Holder in form of Warrant Certificates after issuance of Global Warrant, if any:	 
	 	 	 
	6.	Global Warrant shall be delivered to the following address:	 
	 	 	 
	 	 
	 	 	 
	 	 
	 	 	 
	 	 
	 	 	 
	 	 

   

  The undersigned hereby acknowledges and
    agrees that, in connection with this Global Warrant Exchange and the issuance of the Global Warrant, the Holder is deemed to have
    surrendered the number of Warrants in form of Warrant Certificates in the name of the Holder equal to the number of Warrants evidenced
    by the Global Warrant.

   

  	[SIGNATURE OF HOLDER]	 

   

  	Name of Investing Entity: 	 

   

  	Signature of Authorized Signatory of Investing Entity: 	 

   

  	Name of Authorized Signatory: 	 

   

  	Title of Authorized Signatory: 	 

   

  	Date:

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