Document:

Exhibit 10.6.2

 

 SECOND
AMENDED AND RESTATED UNIT SUBSCRIPTION AGREEMENT

 

This
SECOND AMENDED AND RESTATED UNIT SUBSCRIPTION AGREEMENT (this “Agreement”) is made as of the 25th
day of May 2017, by and between KBL Merger Corp. IV, a Delaware corporation (the “Company”), and KBL IV
Sponsor LLC, a Delaware limited liability company (the “Subscriber”), each with a principal place of business
at 527 Stanton Christiana Rd, Newark, DE 19713.

 

WHEREAS,
on November 11, 2016, the Company and the Subscriber entered into that certain Sponsor Unit Subscription Agreement (the “Original
Agreement”), wherein the Company agreed to sell to the Subscriber on a private placement basis (the “Offering”)
an aggregate of 305,000 units (the “Initial Units”) of the Company, and up to an additional 22,500 units (the
“Additional Units” and together with the Initial Units, the “Units”) of the Company in the
event that the underwriters’ 45-day over-allotment option (“Over-Allotment Option”) is exercised in full
or part, each Unit comprised of one share of common stock of the Company, par value $0.0001 per share (“Common Stock”),
and one warrant to purchase one half of one share of Common Stock (“Warrant”), for a purchase price of $3,050,000
(or up to $3,275,000 if the Over-Allotment Option is exercised in full), or $10.00 per Unit. The shares of Common Stock underlying
the Warrants are hereinafter referred to as the “Warrant Shares”.  The shares of Common Stock underlying
the Units (excluding the Warrant Shares) are hereinafter referred to as the “Placement Shares.” The Warrants
underlying the Units are hereinafter referred to as the “Placement Warrants.”  The Units, Placement
Shares, Placement Warrants and Warrant Shares, collectively, are hereinafter referred to as the “Securities.”  Each
Placement Warrant is exercisable to purchase one-half of one full share of Common Stock at an exercise price of $11.50 per whole
share during the period commencing on the later of (i) twelve (12) months from the date of the closing of the Company’s
initial public offering of units (the “IPO”) and (ii) 30 days following the consummation of the Company’s
initial business combination (the “Business Combination”), as such term is defined in the registration statement
in connection with the IPO, as amended at the time it becomes effective (the “Registration Statement”), and
expiring on the fifth anniversary of the consummation of the Business Combination; and

 

WHEREAS,
on April 19, 2017, the Company and Subscriber entered into that certain Amended and Restated Subscription Agreement, pursuant
to which the Subscriber agreed to purchase 350,000 Initial Units and up to an additional 37,500 Additional Units, and pursuant
to which the Company revised the structure of the Warrants to make each Warrant exercisable for a whole share of Common Stock;
and

 

WHEREAS
the Subscriber and the Company wish to revise the structure of the Units such that the “Warrant” will be a warrant
to purchase one-half of one share of Common Stock as originally agreed upon in the Original Agreement and to include one right
to receive one-tenth (1/10) of one share of Common Stock (the “Rights”); the shares of Common Stock underlying
the Rights are hereinafter referred to as the “Right Shares”; and the definition of “Securities”
shall hereinafter include the Rights Shares; and

 

WHEREAS,
the Company and the Subscriber desire to amend and restate the Original Agreement and to enter into this Agreement.

 

NOW,
THEREFORE, in consideration of the premises and the mutual covenants hereinafter set forth and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Company and Subscriber hereby agree as follows:

 

1.     Agreement
to Subscribe

 

1.1.      Purchase
and Issuance of the Units.

 

	 	1.1.1.	Upon the terms and subject
    to the conditions of this Agreement, the Subscriber hereby agrees to purchase from the Company, and the Company hereby agrees
    to sell to the Subscriber, on the initial Closing Date (as defined below) the Initial Units in consideration of the payment
    of the Initial Purchase Price (as defined below). On the initial Closing Date, or within a reasonable time after the initial
    Closing Date, but in no event later than thirty (30) days after the initial Closing Date, the Company shall deliver to the
    Subscriber the certificates representing the Securities purchased.

 

	 	1.1.2.	Subscriber hereby agrees
    to purchase up to an additional 37,500 Additional Units at $10.00 per Additional Unit for a purchase price of up to $375,000.
    The purchase and issuance of the Additional Units shall occur only in the event that the Over-Allotment Option is exercised
    in full or in part. The total number of Additional Units to be purchased hereunder shall be in the same proportion as the
    proportion of the Over-Allotment Option that is exercised. Each purchase of Additional Units shall occur simultaneously with
    the consummation of any portion of the Over-Allotment Option.

 

     

     

    

  

1.2.      Purchase
Price.

 

	 	1.2.1.	As payment in full for
    the Initial Units being purchased under this Agreement, the Subscriber shall pay $3,500,000 (the “Initial Purchase
    Price”), by wire transfer of immediately available funds or by such other method as may be reasonably acceptable
    to the Company, to the trust account (the “Trust Account”) at a financial institution to be chosen
    by the Company, maintained by Continental Stock Transfer & Trust Company, acting as trustee (“Continental”),
    or into an escrow account maintained by Ellenoff Grossman& Schole LLP (“EG&S”), counsel
    for the Company, one (1) business day prior to the date of effectiveness of the Registration Statement.

 

	 	1.2.2.	As payment in full for
    the Additional Units being purchased under this Agreement, the Subscriber shall pay $10.00 per Additional Unit being purchased
    by wire transfer of immediately available funds or by such other method as may be reasonably acceptable to the Company, to
    the Trust Account at a financial institution to be chosen by the Company, maintained by Continental, or into an escrow account
    maintained by EG&S, one (1) business day prior to the Closing Date of the Over-Allotment Option. 

 

1.3.      Closings.
The closing of the purchase and sale of the Initial Units shall take place simultaneously with the closing of the IPO and the
closing of the purchase and sale of Additional Units shall take place simultaneously with the closing of the Over-Allotment Option
(each a “Closing Date”). The closing of the purchase and sale of the Units shall take place at the offices
of EG&S, 1345 Avenue of the Americas, 11th Floor, New York, New York, 10105, or such other place as may be
agreed upon by the parties hereto.

 

1.4      Termination.
This Agreement and each of the obligations of the undersigned shall be null and void and without effect if a Closing does not
occur prior to June 30, 2017.

  

2.    Representations
and Warranties of Subscriber

 

Subscriber
represents and warrants to the Company that:

 

2.1.      No
Government Recommendation or Approval.  Subscriber understands that no federal or state agency has passed upon or made
any recommendation or endorsement of the Company or the Offering of the Securities.

 

2.2.      Accredited
Investor. Subscriber represents that it is an “accredited investor” as such term is defined in Rule 501(a) of Regulation
D under the Securities Act of 1933, as amended (the “Securities Act”), and acknowledges that the sale contemplated
hereby is being made in reliance, among other things, on a private placement exemption to “accredited investors” under
the Securities Act and similar exemptions under state law.

 

2.3.      Intent.  Subscriber
is purchasing the Securities solely for investment purposes, for Subscriber’s own account (and/or for the account or benefit
of its members or affiliates, as permitted, pursuant to the terms of an agreement (the “Insider Letter”) to
be entered into with respect to the Securities between, among others, Subscriber  and the Company, as described in the
Registration Statement), and not with a view to the distribution thereof and Subscriber has no present arrangement to sell the
Securities to or through any person or entity except as may be permitted under the Insider Letter.  Subscriber shall
not engage in hedging transactions with regard to the Securities unless in compliance with the Securities Act.

  

2.4.      Restrictions
on Transfer.  Subscriber acknowledges and understands the Units are being offered in a transaction not involving a public
offering in the United States within the meaning of the Securities Act.  The Securities have not been registered under
the Securities Act and, if in the future Subscriber decides to offer, resell, pledge or otherwise transfer the Securities, such
Securities may be offered, resold, pledged or otherwise transferred only (A) pursuant to an effective registration statement
filed under the Securities Act, (B) pursuant to an exemption from registration under Rule 144 promulgated under the Securities
Act, if available, or (C) pursuant to any other available exemption from the registration requirements of the Securities
Act, and in each case in accordance with any applicable securities laws of any state or any other jurisdiction. Notwithstanding
the foregoing, Subscriber acknowledges and understands the Securities are subject to transfer restrictions as described in Section
8 hereof. Subscriber agrees that if any transfer of its Securities or any interest therein is proposed to be made, as a condition
precedent to any such transfer, Subscriber may be required to deliver to the Company an opinion of counsel satisfactory to the
Company with respect to such transfer. Absent registration or another available exemption from registration, Subscriber agrees
it will not resell the Securities (unless otherwise permitted pursuant to the Insider Letter, as described in the Registration
Statement).  Subscriber further acknowledges that because the Company is a shell company, Rule 144 may not be available
to Subscriber for the resale of the Securities until the one year anniversary following consummation of the initial Business Combination
of the Company, despite technical compliance with the requirements of Rule 144 and the release or waiver of any contractual transfer
restrictions.

 

    	 	2	 

     

    

 

2.5.      Sophisticated
Investor.

 

(i)  Subscriber
is sophisticated in financial matters and is able to evaluate the risks and benefits of the investment in the Securities.

 

(ii)  Subscriber
is aware that an investment in the Securities is highly speculative and subject to substantial risks because, among other things,
the Securities are subject to transfer restrictions and have not been registered under the Securities Act and therefore cannot
be sold unless subsequently registered under the Securities Act or an exemption from such registration is available. Subscriber
is able to bear the economic risk of its investment in the Securities for an indefinite period of time.

 

2.6.      Independent
Investigation.  Subscriber, in making the decision to purchase the Units, has relied upon an independent investigation
of the Company and has not relied upon any information or representations made by any third parties or upon any oral or written
representations or assurances from the Company, its officers, directors or employees or any other representatives or agents of
the Company, other than as set forth in this Agreement. Subscriber is familiar with the business, operations and financial condition
of the Company and has had an opportunity to ask questions of, and receive answers from the Company’s officers and directors
concerning the Company and the terms and conditions of the offering of the Units and has had full access to such other information
concerning the Company as Subscriber has requested. Subscriber confirms that all documents that it has requested have been made
available and that Subscriber has been supplied with all of the additional information concerning this investment which Subscriber
has requested.

 

2.7      Organization
and Authority.  Subscriber is duly organized, validly existing and in good standing under the laws of the State of Delaware
and it possesses all requisite power and authority necessary to carry out the transactions contemplated by this Agreement.

 

2.8.      Authority.
This Agreement has been validly authorized, executed and delivered by Subscriber and is a valid and binding agreement enforceable
in accordance with its terms, subject to the general principles of equity and to bankruptcy or other laws affecting the enforcement
of creditors’ rights generally.

  

2.9.      No
Conflicts. The execution, delivery and performance of this Agreement and the consummation by Subscriber of the transactions contemplated
hereby do not violate, conflict with or constitute a default under (i) Subscriber's charter documents, (ii) any agreement
or instrument to which Subscriber is a party or (iii) any law, statute, rule or regulation to which Subscriber is subject, or
any agreement, order, judgment or decree to which Subscriber is subject.

 

2.10.      No
Legal Advice from Company.  Subscriber acknowledges it has had the opportunity to review this Agreement and the transactions
contemplated by this Agreement and the other agreements entered into between the parties hereto with Subscriber’s own legal
counsel and investment and tax advisors.  Except for any statements or representations of the Company made in this Agreement
and the other agreements entered into between the parties hereto, Subscriber is relying solely on such counsel and advisors and
not on any statements or representations of the Company or any of its representatives or agents for legal, tax or investment advice
with respect to this investment, the transactions contemplated by this Agreement or the securities laws of any jurisdiction.

 

    	 	3	 

     

    

 

2.11.      Reliance
on Representations and Warranties.  Subscriber understands the Units are being offered and sold to Subscriber in reliance
on exemptions from the registration requirements under the Securities Act, and analogous provisions in the laws and regulations
of various states, and that the Company is relying upon the truth and accuracy of the representations, warranties, agreements,
acknowledgments and understandings of Subscriber set forth in this Agreement in order to determine the applicability of such provisions.

 

2.12.      No
General Solicitation.  Subscriber is not subscribing for the Units as a result of or subsequent to any general solicitation
or general advertising, including but not limited to any advertisement, article, notice or other communication published in any
newspaper, magazine, or similar media or broadcast over television or radio, or presented at any seminar or meeting or in a registration
statement with respect to the IPO filed with the Securities and Exchange Commission (“SEC”).

 

2.13.      Legend.  Subscriber
acknowledges and agrees the certificates evidencing each of the Securities shall bear a restrictive legend (the “Legend”),
in form and substance substantially as set forth in Section 4 hereof.

 

3.    Representations,
Warranties and Covenants of the Company

 

The
Company represents and warrants to, and agrees with, Subscriber that:

 

3.1.      Valid
Issuance of Capital Stock. The total number of shares of all classes of capital stock which the Company has authority to issue
is 35,000,000 shares of Common Stock and 1,000,000 shares of preferred stock, $0.0001 par value per share (“Preferred
Stock”). As of the date hereof, the Company has issued and outstanding 2,875,000 shares of Common Stock (of which up
to 375,000 shares are subject to forfeiture as described in the Registration Statement) and no shares of Preferred Stock. All
of the issued shares of capital stock of the Company have been duly authorized, validly issued, and are fully paid and non-assessable.

 

3.2      Title
to Securities.  Upon issuance in accordance with, and payment pursuant to, the terms hereof and that certain warrant
agreement to be entered into between the Company and Continental, as warrant agent (the “Warrant Agreement”)
and that certain rights agreement to be entered into between the Company and Continental, as rights agent (the “Rights
Agreement”), as the case may be, each of the Units, Placement Shares, Placement Warrants, Rights, Warrant Shares and
Rights Shares will be duly and validly issued, fully paid and non-assessable. On the date of issuance of the Units, the Warrant
Shares and the Rights Shares shall have been reserved for issuance. Upon issuance in accordance with, and payment pursuant to,
the terms hereof, the Warrant Agreement and the Rights Agreement, as the case may be, Subscriber will have or receive good title
to the Units, Placement Shares and Placement Warrants and Rights, free and clear of all liens, claims and encumbrances of any
kind, other than (i) transfer restrictions hereunder and pursuant to the Insider Letter and (ii) transfer restrictions under federal
and state securities laws.

  

3.3.      Organization
and Qualification. The Company is a corporation duly incorporated, validly existing and in good standing under the laws of the
State of Delaware and has the requisite corporate power to own its properties and assets and to carry on its business as now being
conducted.

 

3.4.      Authorization;
Enforcement. (i) The Company has the requisite corporate power and authority to enter into and perform its obligations under
this Agreement and to issue the Securities in accordance with the terms hereof, (ii) the execution, delivery and performance
of this Agreement by the Company and the consummation by it of the transactions contemplated hereby have been duly authorized
by all necessary corporate action, and no further consent or authorization of the Company or its Board of Directors or stockholders
is required, and (iii) this Agreement constitutes valid and binding obligations of the Company enforceable against the Company
in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance,
moratorium, reorganization, or similar laws relating to, or affecting generally the enforcement of, creditors’ rights and
remedies or by equitable principles of general application and except as enforcement of rights to indemnity and contribution may
be limited by federal and state securities laws or principles of public policy.

 

3.5.      No
Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Company of the transactions contemplated
hereby do not (i) result in a violation of the Company’s certificate of incorporation or by-laws, (ii) conflict
with, or constitute a default under any agreement or instrument to which the Company is a party or (iii) any law statute, rule
or regulation to which the Company is subject or any agreement, order, judgment or decree to which the Company is subject. Other
than any SEC or state securities filings which may be required to be made by the Company subsequent to the Closing, and any registration
statement which may be filed pursuant thereto, the Company is not required under federal, state or local law, rule or regulation
to obtain any consent, authorization or order of, or make any filing or registration with, any court or governmental agency or
self-regulatory entity in order for it to perform any of its obligations under this Agreement or issue the Units, Placement Shares,
Warrants, Warrant Shares, Rights or the Rights Shares in accordance with the terms hereof.

 

    	 	4	 

     

    

 

4.     Legends

 

4.1.      Legend.
The Company will issue the Units, Placement Shares, Warrants and Rights, and when issued, the Warrant Shares and the Rights Shares,
purchased by the Subscriber in the name of the Subscriber. The Securities will bear the following Legend and appropriate “stop
transfer” instructions:

 

“THE
SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”),
OR ANY STATE SECURITIES LAWS AND NEITHER THE SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR
OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR SUCH LAWS OR AN EXEMPTION
FROM REGISTRATION UNDER THE SECURITIES ACT AND SUCH LAWS WHICH, IN THE OPINION OF COUNSEL FOR THIS CORPORATION, IS AVAILABLE.”

 

“THE
SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO LOCKUP PURSUANT TO AN INSIDER LETTER BETWEEN, AMONG OTHERS, KBL MERGER
CORP. IV AND KBL IV SPONSOR LLC AND MAY ONLY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED DURING THE TERM OF THE
LOCKUP PURSUANT TO THE TERMS SET FORTH IN THE INSIDER LETTER.”

  

4.2.      Subscriber’s
Compliance. Nothing in this Section 4 shall affect in any way Subscriber’s obligations and agreements to comply with
all applicable securities laws upon resale of the Securities.

 

4.3.      Company’s
Refusal to Register Transfer of the Securities.  The Company shall refuse to register any transfer of the Securities,
if in the sole judgment of the Company such purported transfer would not be made (i) pursuant to an effective registration
statement filed under the Securities Act, or pursuant to an available exemption from the registration requirements of the Securities
Act and (ii) in compliance herewith and with the Insider Letter.

 

4.4      Registration
Rights.  The Subscriber will be entitled to certain registration rights which will be governed by a registration rights
agreement (“Registration Rights Agreement”) to be entered into between, among others, the Subscriber and the
Company, on or prior to the effective date of the Registration Statement. 

 

5.     Waiver
of Liquidation Distributions.

 

In
connection with the Securities purchased pursuant to this Agreement, Subscriber hereby waives any and all right, title, interest
or claim of any kind in or to any distributions of the amounts in the Trust Account with respect to the Securities, whether (i)
in connection with the exercise of redemption rights if the Company consummates the Business Combination, (ii) in connection with
any tender offer conducted by the Company prior to a Business Combination or (iii) upon the Company’s redemption of shares
of Common Stock sold in the Company’s IPO upon the Company’s failure to timely complete the Business Combination.  In
the event Subscriber purchases shares of Common Stock in the IPO or in the aftermarket, any additional shares so purchased shall
be eligible to receive the redemption value of such shares of Common Stock upon the same terms offered to all other purchasers
of Common Stock in the IPO in the event the Company fails to consummate the Business Combination.

 

    	 	5	 

     

    

 

6.     Termination
of Placement Warrants and Rights.

 

6.1.      Failure
to Consummate Business Combination. The Placement Warrants and Rights shall be terminated upon the dissolution of the Company
or in the event that the Company does not consummate the Business Combination within 18 months from the consummation of the IPO,
or 21 months from the consummation of the IPO if the Company has an executed letter of intent, agreement in principle or definitive
agreement for an initial business combination within 18 months from the closing of the IPO, but has not completed the initial
business combination within such 18-month period, or unless otherwise extended by the Corporation.

 

6.2.      Termination
of Rights as Holder. If the Placement Warrants and Rights are terminated in accordance with Section 6.1, then after such
time Subscriber (or successor in interest) shall no longer have any rights as a holder of such Placement Warrants and Rights and
the Company shall take such action as is appropriate to cancel such Placement Warrants and Rights. Subscriber hereby irrevocably
grants the Company a limited power of attorney for the purpose of effectuating the foregoing and agrees to take any and all measures
reasonably requested by the Company necessary to effect the foregoing.

 

7.     Rescission
Right Waiver and Indemnification.

 

7.1.      Subscriber
understands and acknowledges an exemption from the registration requirements of the Securities Act requires there be no general
solicitation of purchasers of the Units. In this regard, if the IPO were deemed to be a general solicitation with respect to the
Units, the offer and sale of such Units may not be exempt from registration and, if not, Subscriber may have a right to rescind
its purchase of the Units. In order to facilitate the completion of the Offering and in order to protect the Company, its stockholders
and the amounts in the Trust Account from claims that may adversely affect the Company or the interests of its stockholders, Subscriber
hereby agrees to waive, to the maximum extent permitted by applicable law, any claims, right to sue or rights in law or arbitration,
as the case may be, to seek rescission of its purchase of the Units. Subscriber acknowledges and agrees this waiver is being made
in order to induce the Company to sell the Units to the Subscriber. Subscriber agrees the foregoing waiver of rescission rights
shall apply to any and all known or unknown actions, causes of action, suits, claims or proceedings (collectively, “Claims”)
and related losses, costs, penalties, fees, liabilities and damages, whether compensatory, consequential or exemplary, and expenses
in connection therewith, including reasonable attorneys’ and expert witness fees and disbursements and all other expenses
reasonably incurred in investigating, preparing or defending against any Claims, whether pending or threatened, in connection
with any present or future actual or asserted right to rescind the purchase of the Units hereunder or relating to the purchase
of the Units and the transactions contemplated hereby.

 

7.2.      Subscriber
agrees not to seek recourse against the Trust Account for any reason whatsoever in connection with its purchase of the Units or
any Claim that may arise now or in the future.

 

7.3.      Subscriber
acknowledges and agrees that the stockholders of the Company are and shall be third-party beneficiaries of this Section 7. 

 

7.4.      Subscriber
agrees that to the extent any waiver of rights under this Section 7 is ineffective as a matter of law, Subscriber has offered
such waiver for the benefit of the Company as an equitable right that shall survive any statutory disqualification or bar that
applies to a legal right. Subscriber acknowledges the receipt and sufficiency of consideration received from the Company hereunder
in this regard.

 

8.     Terms
of the Units and Underlying Securities

 

8.1.      The Units and their component parts are substantially identical to the units to be offered in the IPO except that: (i) the Units
and component parts will be subject to transfer restrictions, except in limited circumstances, until 30 days following the consummation
of the Business Combination, (ii) the Placement Warrants will be non-redeemable so long as they are held by the initial holder
thereof (or any of its permitted transferees), and may be exercisable on a “cashless” basis if held by Subscriber
or its permitted transferees and (iii) the Units and component parts are being purchased pursuant to an exemption from the registration
requirements of the Securities Act and will become freely tradable only after the expiration of the lockup described above in
clause (i) and they are registered pursuant to the Registration Rights Agreement to be signed on or before the date of the Prospectus
or an exemption from registration is available.

 

8.2      Subscriber
agrees to vote the Placement Shares in accordance with the terms of the Insider Letter and as otherwise described in the Registration
Statement.

 

    	 	6	 

     

    

 

9.     Governing
Law; Jurisdiction; Waiver of Jury Trial

 

This
Agreement shall be governed by and construed in accordance with the laws of the State of New York for agreements made and to be
wholly performed within such state. The parties hereto hereby waive any right to a jury trial in connection with any litigation
pursuant to this Agreement and the transactions contemplated hereby.

  

10.   Assignment;
Entire Agreement; Amendment

 

10.1.      Assignment.
Neither this Agreement nor any rights hereunder may be assigned by any party to any other person other than by Subscriber to a
person agreeing to be bound by the terms hereof, including the waiver contained in Section 7 hereof.

 

10.2.      Entire
Agreement. This Agreement sets forth the entire agreement and understanding between the parties as to the subject matter thereof
and merges and supersedes all prior discussions, agreements and understandings of any and every nature among them.

 

10.3.      Amendment.
Except as expressly provided in this Agreement, neither this Agreement nor any term hereof may be amended, waived, discharged
or terminated other than by a written instrument signed by the party against whom enforcement of any such amendment, waiver, discharge
or termination is sought.

 

10.4.      Binding
upon Successors. This Agreement shall be binding upon and inure to the benefit of the parties hereto and to their respective heirs,
legal representatives, successors and permitted assigns. 

  

11.   Notices

 

11.1      Notices.
Unless otherwise provided herein, any notice or other communication to a party hereunder shall be sufficiently given if in writing
and personally delivered or sent by facsimile or other electronic transmission with copy sent in another manner herein provided
or sent by courier (which for all purposes of this Agreement shall include Federal Express or other recognized overnight courier)
or mailed to said party by certified mail, return receipt requested, at its address provided for herein or such other address
as either may designate for itself in such notice to the other.  Communications shall be deemed to have been received
when delivered personally, on the scheduled arrival date when sent by next day or 2nd-day courier service, or if sent by facsimile
upon receipt of confirmation of transmittal or, if sent by mail, then three days after deposit in the mail. If given by electronic
transmission, such notice shall be deemed to be delivered (a) if by electronic mail, when directed to an electronic mail
address at which the stockholder has consented to receive notice; (b) if by a posting on an electronic network together with
separate notice to the stockholder of such specific posting, upon the later of (1) such posting and (2) the giving of
such separate notice; and (c) if by any other form of electronic transmission, when directed to the stockholder.

 

12.   Counterparts

 

This
Agreement may be executed in one 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 the other party, it being understood
that both parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission
or 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 facsimile or “.pdf”
signature page were an original thereof.

 

13.   Survival;
Severability

 

13.1.      Survival.
The representations, warranties, covenants and agreements of the parties hereto shall survive each Closing Date.

 

    	 	7	 

     

    

 

13.2.      Severability.
In the event that any provision of this Agreement becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable
or void, this Agreement shall continue in full force and effect without said provision; provided that no such severability shall
be effective if it materially changes the economic benefit of this Agreement to any party.

 

14.   Headings.

 

The
titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting
this Agreement.

 

This
subscription is accepted by the Company on the 25th day of May, 2017.

 

	 	KBL MERGER CORP. IV
	 	 	 
	 	By:	/s/
    Marlene Krauss, M.D.
	 	 	Name:
    Marlene     Krauss, M.D.
	 	 	Title: Chief Executive Officer 

 

Accepted
and agreed on the date hereof

 

	 	SUBSCRIBER:

    KBL IV SPONSOR LLC
	 	 	 
	 	By:	/s/
    Marlene Krauss, M.D.
	 	 	Name:
    Marlene     Krauss, M.D.
	 	 	Title: Managing Member

 

 

8Exhibit 10.1 Form of Securities Purchase
Agreement

 

SECURITIES
PURCHASE AGREEMENT

 

THIS SECURITIES
PURCHASE AGREEMENT (the “Agreement”), dated as of May __, 2017, is entered into by and between BIOHITECH GLOBAL,
INC., a Delaware corporation, (the “Company”) and each purchaser identified on the signature page hereto (the “Purchaser”).

 

WITNESSETH:

 

WHEREAS, the
Company and the Purchaser are executing and delivering this Agreement in accordance with and in reliance upon the exemption from
securities registration afforded, inter alia, by Rule 506 under Regulation D (“Regulation D”) as promulgated
by the United States Securities and Exchange Commission (the “SEC”) under the Securities Act of 1933, as amended (the
“1933 Act”), and/or Section 4(2) of the 1933 Act; and

 

WHEREAS, the
Purchaser wishes to purchase from the Company, and the Company wishes to sell to the Purchaser, upon the terms and subject to the
conditions of this Agreement, for a minimum investment amount of One Hundred Thousand Dollars ($100,000), securities consisting
of (i) the Company’s Original Issue Discount Convertible Promissory Notes due one year from their date of issuance (the “Notes”),
the form of which is attached as Exhibit A hereto, which will be convertible into shares of the Company’s common stock,
par value $0.0001 per share (the “Common Stock”), in the minimum principal amount of One Hundred Thousand ($100,000),
(the “Principal Amount”); and (ii) Warrants to purchase a number of shares of Common Stock equal to one-half of the
Principal Amount divided by the Conversion Price, as that term is defined herein, at the exercisable price of $3.75 per share (the
“Exercise Price”) (the “Warrants,” and together with the Notes, the “Securities”), the form
of which is attached as Exhibit B hereto; and

 

WHEREAS, the
Purchaser acknowledges that the Notes and Warrants purchased hereby are part of a series of notes and warrants issued by the Company
in the aggregate principal amount of up to One Million Dollars ($1,000,000.00), for an aggregate proceeds of up to Nine Hundred
Thousand and 00/100 Dollars ($900,000.00), with an additional option on the part of the Company to offer and sell an additional
Two Hundred and Fifty Thousand ($250,000.00) of Notes and Warrants.

 

NOW THEREFORE,
in consideration of the premises and the mutual covenants contained herein and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties agree as follows:

 

1.           DEFINITIONS;
AGREEMENT TO PURCHASE.

 

a.           Certain Definitions.
As used herein, each of the following terms has the meaning set forth below, unless the context otherwise requires:

 

(i)          “Closing
Date” means the date on which one the Closing is held.

 

(ii)         “Common
Stock” shall have the meaning ascribed to such term in the Recitals.

 

     

     

    

 

(iii)        “Conversion
Price” means the Conversion Price of $3.00 per share of Common Stock, as more fully defined in the Notes.

 

(iv)        “Dollars”
or “$” means United States Dollars.

 

(v)         “Exchange
Act” means the Securities Exchange Act of 1934, as amended.

 

(vi)        “Material
Adverse Effect” means a material adverse effect on the business, operations or condition (financial or otherwise), prospects
or results of operation of the Company and its Subsidiaries taken as a whole, in the sole and absolute discretion of the Purchaser,
irrespective of any finding of fault, magnitude of liability (or lack of financial liability) or purported lack of materiality
(it being understood that the mere finding of any such violation is in itself material and adverse). Without limiting the generality
of the foregoing, the occurrence of any of the following, in the sole and absolute discretion of the Purchaser, shall be considered
a Material Adverse Effect: (i) any final money, judgment, writ or warrant of attachment, or similar process (including an arbitral
determination) in excess of Fifty Thousand Dollars ($50,000) shall be entered or filed against the Company or any of its Subsidiaries
(including, in any event, products liability claims against the Company or its Subsidiaries), (ii) the suspension or withdrawal
of any governmental authority or permit pertaining to a material amount of the Company’s or any Subsidiary’s products
or services, or (iii) an action by a regulatory agency or governmental body affecting the Common Stock (including, without limitation,
(1) the commencement of any regulatory investigation of which the Company is aware, the suspension of trading of the Common Stock
by the Financial Industry Regulation Authority (“FINRA”), the SEC, the OTC Bulletin Board (“OTCBB”) or
the OTC Markets Group, Inc., the failure of the Common Stock to be DTC eligible or the placing of the Common Stock on the DTC “chill
list” or (2) the engaging in any market manipulation or other unlawful or improper trading or other activity by any Affiliate).

 

(vii)       “Person”
means any living person or any entity, such as, but not necessarily limited to, a corporation, partnership or trust.

 

(viii)      “Purchase
Price” means the price that the Purchaser pays for the Securities at the Closing.

 

(ix)         “Registrable
Securities” shall mean the Shares and, to the extent applicable, any other shares of capital stock or other securities of
the Company or any successor to the Company that are issued upon exchange of such Shares.

 

(x)          “Registration
Statement” shall mean a registration statement on Form S-1 (or any successor(s) thereto) filed or contemplated to be filed
by the Company with the SEC under the Securities Act.

 

(xi)         “Securities”
means the Notes, the Warrants and the Shares.

 

(xii)        “Shares”
means the shares of Common Stock issuable upon conversion of the Notes and the shares of Common Stock issuable upon exercise of
the Warrants.

 

    	2

     

    

 

(xiii)       “Closing
Date” shall have the meaning ascribed to such term in Section 5(a).

 

(xiv)      “Subsidiary”
shall have the meaning ascribed to such term in Section 3(b).

 

(xv)       “Transaction
Documents” means, collectively, this Agreement, the Notes, the Warrants, and the other agreements, documents and instruments
contemplated hereby or thereby.

 

(xvi)      “Transfer
Agent” shall have the meaning ascribed to such term in Section 4(a).

 

b.           Purchase and
Sale of Securities.

 

(i)          The Purchaser
agrees to purchase from the Company, and the Company agrees to sell to the Purchaser, the Securities on the terms and conditions
set forth below in this Agreement and the other Transaction Documents.

 

(ii)         Subject to the
terms and conditions of this Agreement and the other Transaction Documents, the Purchaser will purchase the Securities on the Closing
Date.

 

2.           PURCHASER’S REPRESENTATIONS,
WARRANTIES, ETC.

 

The Purchaser represents
and warrants to, and covenants and agrees with, the Company as follows:

 

a.           Investment Purpose.
Without limiting the Purchaser’s right to sell the Shares pursuant to the Registration Statement, the Purchaser is purchasing
the Securities, and will be acquiring the Shares, for its own account for investment only and not with a view towards the public
sale or distribution thereof and not with a view to or for sale in connection with any distribution thereof.

 

b.          Accredited Investor
Status. Purchaser is (i) an “accredited investor” as that term is defined in Rule 501 of the General Rules and
Regulations under the 1933 Act by reason of Rule 501(a)(3), (ii) experienced in making investments of the kind described in this
Agreement and the related documents, (iii) able, by reason of the business and financial experience of its officers (if an entity)
and professional advisors (who are not affiliated with or compensated in any way by the Company or any of its affiliates or selling
agents), to protect its own interests in connection with the transactions described in this Agreement, and the related documents,
and (iv) able to afford the entire loss of its investment in the Securities.

 

c.           Subsequent Offers
and Sales. All subsequent offers and sales of the Securities or Shares by the Purchaser shall be made pursuant to registration
of the Securities or Shares under the 1933 Act or pursuant to an exemption from registration and compliance with applicable states’
securities laws.

 

    	3

     

    

 

d.          Reliance on
Exemptions. Purchaser understands that the Securities are being offered and sold to it in reliance on specific exemptions from
the registration requirements of United States federal and state securities laws and that the Company is relying upon the truth
and accuracy of, and the Purchaser’s compliance with, the representations, warranties, agreements, acknowledgments and understandings
of the Purchaser set forth herein in order to determine the availability of such exemptions and the eligibility of the Purchaser
to acquire the Securities.

 

e.           Information.
Purchaser and its advisors have been furnished with all materials relating to the business, finances and operations of the Company
and materials relating to the offer and sale of the Securities that have been requested by the Purchaser. Purchaser and its advisors
have been afforded the opportunity to ask questions of the Company and have received complete and satisfactory answers to any such
inquiries. Without limiting the generality of the foregoing, Purchaser has also had the opportunity to obtain and to review the
Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2015 and Quarterly Reports on Forms 10-Q and
10-Q/A (if applicable) for the fiscal quarters ended March 31, 2016, June 30, 2016 and September 30, 2016, including the financial
statements included therein (the “SEC Documents”).

 

f.           Investment Risk.
Purchaser understands that its investment in the Securities involves a high degree of risk, including the risk of loss of the Purchaser’s
entire investment.

 

g.           Governmental
Review. Purchaser understands that no United States federal or state agency or any other government or governmental agency
has passed on or made any recommendation or endorsement of the Securities.

 

h.           Organization;
Authorization. If an entity, Purchaser is duly organized, validly existing and in good standing under the laws of the jurisdiction
of its organization. This Agreement and the other Transaction Documents have been duly and validly authorized, executed and delivered
on behalf of the Purchaser and create a valid and binding agreement of the Purchaser enforceable in accordance with its terms,
subject as to enforceability to general principles of equity and to bankruptcy, insolvency, moratorium and other similar laws affecting
the enforcement of creditors’ rights generally.

 

i.            Residency.
The state in which any offer to purchase shares hereunder was made to or accepted by Purchaser is the state shown as the Purchaser’s
address contained herein.

 

3.           COMPANY REPRESENTATIONS AND WARRANTIES,
ETC.

 

The Company represents
and warrants to the Purchaser that:

 

a.           Concerning the
Securities. There are no preemptive rights of any stockholder of the Company to acquire the Securities.

 

    	4

     

    

 

b.           Organization;
Subsidiaries; Reporting Company Status. The Company is a corporation duly organized, validly existing and in good standing
under the laws of the state of Delaware, and has the requisite corporate or other power to own its properties and to carry on its
business as now being conducted. The Company is duly qualified as a foreign corporation or other entity to do business and is in
good standing in each jurisdiction where the nature of the business conducted or property owned by it makes such qualification
necessary, other than those jurisdictions in which the failure to so qualify would not have a Material Adverse Effect. The Common
Stock is listed and traded on the OTCQB Market of the OTC Markets Group, Inc. (trading symbol: BHTG). The Company has received
no notice, either oral or written, from FINRA, the SEC, or any other organization, with respect to the continued eligibility of
the Common Stock for such listing, and the Company has maintained all requirements for the continuation of such listing.

 

c.           Authorized Shares.
The Company has sufficient authorized and unissued shares of Common Stock as may be necessary to effect the issuance of the
Shares, assuming the prior issuance and exercise, exchange or conversion, as the case may be, of all derivative securities authorized.
The Shares have been duly authorized and, when issued upon conversion of the Notes or upon exercise of the Warrants, the Shares
will be duly and validly issued, fully paid and non-assessable and will not subject the holder thereof to personal liability by
reason of being such holder. At all times, the Company shall keep available and reserved for issuance to the holders of the Securities
shares of Common Stock duly authorized for issuance against the Securities.

 

d.           Authorization.
This Agreement, the issuance of the Securities (including without limitation the incurrence of indebtedness thereunder), the
issuance of the Shares, and the other transactions contemplated by the Transaction Documents, have been duly and validly authorized
by the Company, and this Agreement has been duly executed and delivered by the Company. Each of the Transaction Documents, when
executed and delivered by the Company, are and will be, valid, legal and binding agreements of the Company, enforceable in accordance
with their respective terms, subject as to enforceability to general principles of equity and to bankruptcy, insolvency, moratorium,
and other similar laws affecting the enforcement of creditors’ rights generally.

 

e.           Non-contravention.
The execution and delivery of the Transaction Documents, the issuance of the Securities and the consummation by the Company
of the other transactions contemplated by this Agreement and the Securities (including without limitation the incurrence of indebtedness
thereunder) do not and will not conflict with or result in a breach by the Company of any of the terms or provisions of, or constitute
a default under (i) the articles of incorporation or by-laws of the Company, each as currently in effect, (ii) any indenture, mortgage,
deed of trust, or other material agreement or instrument to which the Company is a party or by which it or any of its properties
or assets are bound, including any listing agreement for the Common Stock, except as herein set forth or an event which results
in the creation of any lien, charge or encumbrance upon any assets of the Company or the triggering of any preemptive or anti-dilution
rights or rights of first refusal or first offer on the part of holders of the Company’s securities, (iii) to its knowledge,
any existing applicable law, rule, or regulation or any applicable decree, judgment, or order of any court, United States federal
or state regulatory body, administrative agency, or other governmental body having jurisdiction over the Company or any of its
properties or assets, or (iv) the Company’s listing agreement for its Common Stock (if applicable), except such conflict,
breach or default which would not have a Material Adverse Effect.

 

    	5

     

    

 

f.           Approvals. No
authorization, approval or consent of any court, governmental body, regulatory agency, self-regulatory organization, or stock exchange
or market or the stockholders of the Company is required to be obtained by the Company for the entering into and performing this
Agreement and the other Transaction Documents (including without limitation the issuance and sale of the Securities to the Purchaser
as contemplated by this Agreement) except such authorizations, approvals and consents that have been obtained, or such authorizations,
approvals and consents, the failure of which to obtain would not have a Material Adverse Effect.

 

g.           SEC Filings;
Rule 144 Status. None of the SEC Documents contained, at the time they were filed, any untrue statement of a material fact
or omitted to state any material fact required to be stated therein or necessary to make the statements made therein in light of
the circumstances under which they were made, not misleading. The Company is not aware of any event occurring on or prior to the
execution and delivery of this Agreement that would require the filing of, or with respect to which the Company intends to file,
a Form 8-K after such time.

 

h.           Absence of Certain
Changes. Since September 3, 2016, when viewed from the perspective of the Company and its Subsidiaries taken as a whole, there
has been no material adverse change and no material adverse development in the business, properties, operations, condition (financial
or otherwise), or results of operations of the Company and its Subsidiaries (including, without limitation, a change or development
which constitutes, or with the passage of time is reasonably likely to become, a Material Adverse Effect), except as disclosed
in the SEC Documents. Since September 30, 2016, except as provided in the SEC Documents, the Company has not (i) incurred or become
subject to any material liabilities (absolute or contingent) except liabilities incurred in the ordinary course of business consistent
with past practices; (ii) discharged or satisfied any material lien or encumbrance or paid any material obligation or liability
(absolute or contingent), other than current liabilities paid in the ordinary course of business consistent with past practices;
(iii) declared or made any payment or distribution of cash or other property to stockholders with respect to its capital stock,
or purchased or redeemed, or made any agreements to purchase or redeem, any shares of its capital stock; (iv) sold, assigned or
transferred any other tangible assets, or canceled any debts or claims, except in the ordinary course of business consistent with
past practices; (v) suffered any substantial losses or waived any rights of material value, whether or not in the ordinary course
of business, or suffered the loss of any material amount of existing business; (vi) made any changes in employee compensation,
except in the ordinary course of business consistent with past practices; or (vii) experienced any material problems with labor
or management in connection with the terms and conditions of their employment.

 

i.            Full Disclosure.
There is no fact known to the Company (other than general economic conditions known to the public generally or as disclosed
in the SEC Documents) that has not been disclosed in writing to the Purchaser that (i) would reasonably be expected to have a Material
Adverse Effect, (ii) would reasonably be expected to materially and adversely affect the ability of the Company to perform its
obligations pursuant to the Transaction Documents, or (iii) would reasonably be expected to materially and adversely affect the
value of the rights granted to the Purchaser in the Transaction Documents.

 

    	6

     

    

 

j.            Absence of Litigation.
Except as described in the SEC Documents, there is no action, suit, proceeding, inquiry or investigation before or by any court,
public board or body pending or, to the knowledge of the Company, threatened against or affecting the Company, wherein an unfavorable
decision, ruling or finding would have a Material Adverse Effect or which would adversely affect the validity or enforceability
of, or the authority or ability of the Company to perform its obligations under, any of the Transaction Documents. The Company
is not a party to or subject to the provisions of, any order, writ, injunction, judgment or decree of any court or government agency
or instrumentality which could reasonably be expected to have a Material Adverse Effect.

 

k.           Absence of Events
of Default. No Event of Default (or its equivalent term), as defined in the respective agreement, indenture, mortgage, deed
of trust or other instrument, to which the Company is a party, and no event which, with the giving of notice or the passage of
time or both, would become an Event of Default (or its equivalent term) (as so defined in such document), has occurred and is continuing,
which would have a Material Adverse Effect.

 

l.            No Undisclosed
Liabilities or Events. The Company has no liabilities or obligations other than those disclosed in the SEC Documents or those
incurred in the ordinary course of the Company’s business since September 30, 2016, and which individually or in the aggregate,
do not or would not have a Material Adverse Effect. No event or circumstances has occurred or exists with respect to the Company
or its properties, business, condition (financial or otherwise), or results of operations, which, under applicable law, rule or
regulation, requires public disclosure or announcement prior to the date hereof by the Company but which has not been so publicly
announced or disclosed. There are no proposals currently under consideration or currently anticipated to be under consideration
by the Board of Directors or the executive officers of the Company which proposal would (x) change the articles of incorporation,
by-laws or any other charter document of the Company, each as currently in effect, with or without shareholder approval, which
change would reduce or otherwise adversely affect the rights and powers of the shareholders of the Common Stock or (y) materially
or substantially change the business, assets or capital of the Company.

 

m.          No Integrated
Offering. Neither the Company nor any of its affiliates nor any Person acting on its or their behalf has, directly or indirectly,
at any time during the six month period immediately prior to the date of this Agreement made any offer or sales of any security
or solicited any offers to buy any security under circumstances that would eliminate the availability of the exemption from registration
under Rule 506 of Regulation D in connection with the offer and sale of the Securities as contemplated hereby.

 

n.          Regulatory
Permits. The Company has all such permits, easements, consents, licenses, franchises and other governmental and regulatory
authorizations from all appropriate federal, state, local or other public authorities (“Permits”) as are necessary
to own and lease its properties and conduct its businesses in all material respects in the manner described in the SEC Documents
and as currently being conducted. All such Permits are in full force and effect and the Company has fulfilled and performed all
of its material obligations with respect to such Permits, and no event has occurred that allows, or after notice or lapse of time
would allow, revocation or termination thereof or will result in any other material impairment of the rights of the holder of any
such Permit, subject in each case to such qualification as may be disclosed in the SEC Documents. Such Permits contain no restrictions
that would materially impair the ability of the Company to conduct businesses in the manner consistent with its past practices.
The Company has not received notice or otherwise has knowledge of any proceeding or action relating to the revocation or modification
of any such Permit.

 

    	7

     

    

 

o.           Hazardous Materials.
The Company is in compliance with all applicable Environmental Laws in all respects except where the failure to comply does not
have and could not reasonably be expected to have a Material Adverse Effect. For purposes of the foregoing:

 

“Environmental
Laws” means, collectively, the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended,
the Superfund Amendments and Reauthorization Act of 1986, the Resource Conservation and Recovery Act, the Toxic Substances Control
Act, as amended, the Clean Air Act, as amended, the Clean Water Act, as amended, any other “Superfund” or “Superlien”
law or any other applicable federal, state or local statute, law, ordinance, code, rule, regulation, order or decree regulating,
relating to, or imposing liability or standards of conduct concerning, the environment or any Hazardous Material.

 

“Hazardous Material”
means and includes any hazardous, toxic or dangerous waste, substance or material, the generation, handling, storage, disposal,
treatment or emission of which is subject to any Environmental Law.

 

s.           Brokers.
No Person is entitled to receive any consideration from the Company or the Purchaser arising from any finder’s agreement,
brokerage agreement or other agreement to which the Company is a party.

 

4.           CERTAIN COVENANTS AND ACKNOWLEDGMENTS.

 

a.           Transfer Restrictions.
The parties acknowledge and agree that (1) the Securities have not been registered under the provisions of the 1933 Act and
the Shares have not been registered under the 1933 Act, and may not be transferred unless (A) subsequently registered thereunder
or (B) sold or transferred pursuant to an exemption from such registration; (2) any sale of the Securities made in reliance on
Rule 144 promulgated under the 1933 Act (“Rule 144”) may be made only in accordance with the terms of Rule 144 and
further, if Rule 144 is not applicable, any resale of such Securities or Shares under circumstances in which the seller, or the
Person through whom the sale is made, may be deemed to be an underwriter, as that term is used in the 1933 Act, may require compliance
with some other exemption under the 1933 Act or the rules and regulations of the SEC thereunder, (3) at the request of the Purchaser,
the Company shall, from time to time, within two (2) business days of such request, at the sole cost and expense of the Company,
either (i) deliver to its transfer agent and registrar for the Common Stock (the “Transfer Agent”) a written letter
instructing and authorizing the Transfer Agent to process transfers of the Shares at such time as the Purchaser has held the Securities
for the minimum holding period permitted under Rule 144, subject to the Purchaser’s providing to the Transfer Agent certain
customary representations contemporaneously with any requested transfer, or (ii) at the Purchaser’s option or if the Transfer
Agent requires further confirmation of the availability of an exemption from registration, furnish to the Purchaser an opinion
of the Company’s counsel in favor of the Purchaser (and, at the request of the Purchaser, any agent of the Purchaser, including
but not limited to the Purchaser’s broker or clearing firm) and the Transfer Agent, reasonably satisfactory in form, scope
and substance to the Purchaser and the Transfer Agent, to the effect that a contemporaneously requested transfer of shares does
not require registration under the 1933 Act, pursuant to the 1933 Act, Rule 144 or other regulations promulgated under the 1933
Act and (4) neither the Company nor any other Person is under any obligation to register the Securities (other than pursuant to
this Agreement) under the 1933 Act or to comply with the terms and conditions of any exemption thereunder.

 

    	8

     

    

 

b.           Restrictive
Legend. The Purchaser acknowledges and agrees that the Notes, Warrants, and, until such time as the Shares have been registered
under the 1933 Act as contemplated hereby and sold in accordance with an effective Registration Statement, certificates and other
instruments representing any of the Securities or Shares shall bear a restrictive legend in substantially the following form (and
a stop-transfer order may be placed against transfer of any such Securities or Shares):

 

NEITHER THE ISSUANCE AND SALE
OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE [NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE EXERCISABLE HAVE] NOT BEEN
REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION
FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE
OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION
FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE
STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL
BE REASONABLY ACCEPTABLE TO THE COMPANY.

 

c.           Piggy-back
Registration Rights. From and after the Closing Date and until eighteen (18) months after the Closing Date, if the Company
contemplates making an offering of Common Stock (or other equity securities convertible into or exchangeable for Common Stock)
registered for sale under the Securities Act or proposes to file a Registration Statement covering any of its securities, the Company
will at each such time give prompt written notice to Purchaser of its intention to do so and of the registration rights granted
under this Agreement. Upon the written request of Purchaser made within thirty (30) days after the receipt of any such notice (which
request shall specify the Registrable Securities intended to be disposed of by Purchaser and the intended method of disposition
thereof), the Company will, at its sole cost and expense, use its best efforts to effect the registration of all Registrable Securities
which the Company has been so requested to register by Investments and/or Purchaser, to the extent requisite to permit the disposition
(in accordance with the intended methods of disposition) of the Registrable Securities by Investments and/or Purchaser, by inclusion
of such Registrable Securities in the Registration Statement which covers the securities which the Company proposes to register;
provided, that if the Company is unable to register the full amount of Registrable Securities in an “at the market
offering” under SEC rules and regulations due to the high percentage of the Company’s Common Stock the Registrable
Securities represents (giving effect to all other securities being registered in the Registration Statement), then the Company
may reduce, on a pro rata basis, the amount of Registrable Securities subject to the Registration Statement to a lesser amount
which equals the maximum number of Registrable Securities that the Company is permitted to register in an “at the market
offering”; and provided, further, that if, at any time after giving written notice of its intention to register
any Registrable Securities and prior to the effective date of the Registration Statement filed in connection with such registration,
the Company shall determine for any reason either not to register or to delay registration of such Registrable Securities, the
Company may, at its election, give written notice of such determination and/or the Purchaser and, thereupon, (i) in the case of
a determination not to register, the Company shall be relieved of its obligation to register any Registrable Securities in connection
with such registration (but not from its obligation to pay the expenses of registration in connection therewith), and (ii) in the
case of a determination to delay registering such Registrable Securities, shall be permitted to delay registering any Registrable
Securities, for the same period as the delay in registering such other securities. If Purchaser shall have transferred all or part
of its Registrable Securities, then for purposes of this Section, the term “Purchaser” shall reference Purchaser and/or
such transferee(s).

 

    	9

     

    

 

d.           Securities Filings.
The Company undertakes and agrees, with the cooperation of the Investor, to make all necessary filings (including, without limitation,
a Form D) in connection with the sale of the Securities to the Purchaser required under any United States laws and regulations
applicable to the Company (including without limitation state “blue sky” laws), or by any domestic securities exchange
or trading market, and to provide a copy thereof to the Purchaser promptly after such filing.

 

e.           Reporting Status;
Public Trading Market; DTC Eligibility. So long as the Purchaser beneficially owns any Notes or Warrants , (i) the Company
shall timely file, prior to or on the date when due, all reports that would be required to be filed with the SEC pursuant to Section
13 or 15(d) of the Exchange Act if the Company had securities registered under Section 12(b) or 12(g) of the Exchange Act; (ii)
the Company shall not be operated as, or report, to the SEC or any other Person, that the Company is a “shell company”
or indicate to the contrary to the SEC or any other Person; (iii) the Company shall take all other action under its control necessary
to ensure the availability of Rule 144 under the 1933 Act for the sale of Shares by the Purchaser at the earliest possible date;
and (iv) the Company shall at all times while any Notes or Warrants are outstanding maintain its engagement of an independent registered
public accounting firm. Except as otherwise set forth in Transaction Documents, the Company shall take all action under its control
necessary to obtain and to continue the listing and trading of its Common Stock (including, without limitation, all Registrable
Securities) on the OTC Markets, Inc. (“OTCM”), and will comply in all material respects with the Company’s reporting,
filing and other obligations under the by-laws or rules of the Financial Industry Regulatory Authority (“FINRA”).

 

    	10

     

    

 

f.           Restrictions
on Transfer of Entsorga and AVWC Interests.  The Company hereby represents and warrants that from the date hereof until the
Note is no longer outstanding, the Company shall not, directly, indirectly, voluntarily or involuntarily (including pursuant to
operation of law) sell, transfer, or assign; (a) any of the common units (the “Units”) owned by the Company, directly
or indirectly, in Entsorga West Virginia LLC, a Delaware limited liability company (“Entsorga”); or (b) any of the
common units (the “Units”) owned by the Company, directly or indirectly, in Apple Valley Waste Conversions LLC, a Delaware
limited liability company (“AVWC”). Transactions between the Company and its subsidiaries ("Inter-Company Transactions")
shall be permitted provided that a majority of the Note holders, based on the then outstanding principal balances, consent to such
sale, transfer or assignment and all parties subject to any Inter-Company Transactions agree to be bound by the restrictions in
this subsection f. and the security interest set forth in subsection g hereof.

 

g.           Security Interest.
The Note shall be secured by, and the Company hereby grants the Purchaser a security interest, in:

 

(i) all of the Company’s
right, on a pari passu basis with the other Purchasers in this Offering, to any and all of the proceeds resulting from the
Company's ownership of the Units, including but not limited to, future cash flows, profits, or other distributions resulting from
operations, capital or other any activity (the “Entsorga Proceeds”). The Company agrees to hold any Entsorga Proceeds
actually received in a segregated account until such time as the Notes are either paid in full or converted. On the maturity of
the Note, the Company shall use any available Unit Proceeds for the repayment until such time as the Notes are paid in full; and

 

(ii) the Company’s
membership interests in AVWC, representing approximately thirty-one percent (31%) of AVWC’s outstanding ownership. AVWC holds
the exclusive development rights for the high efficiency biological treatment technology (HeBiot) licensed from Entsorgafin S.p.A.,
an Italian company (“Entsorgafin”) in 11 Northeast States of the United States and the District of Columbia.

 

h.           Right of Participation.
For five (5) years from the date hereof or for the period during which the Company has provided Project Notices (defined below)
to six (6) rights to participate, as further described, whichever is longer, the Purchaser shall have the right to participate
in the external financing of Company’s projects in which the Company shall develop, improve or otherwise use the High Efficiency
Biological Treatment (“HEBioT”) technology (the “Technology”) licensed from Entsorgafin to AVWC
(a “Covered Project”) in an amount pari passu with the other Purchasers in this Offering up to twenty percent
(20%) of the aggregate of the Company’s investment in the Covered Project. The right to participate, is a right to participate
in the equity portion of a Covered Project that the Company anticipates (i) the construction and other tangible based costs will
be financed through a construction or project type financing, (ii) will require an amount of “owner’s equity”
or “Equity Portion” in the overall project to consummate construction or project type financing, and (iii) it will
be seeking external financing to fund the Equity Portion of a Covered Project. The Company shall give a notice to the Purchaser,
no sooner than having received final approvals as required for the construction and operation of a Covered Project or having incurred
at least $1,000,000 in initial development related costs and no later than having negotiated the level of Equity Portion required
by the anticipated lender for such Covered Project, via facsimile or email that it has agreed to terms for a Covered Project and
a description of the terms of such Covered Project (the “Project Notice”). The Purchaser shall have ten (10) days after
receipt of such Project Notice that the Purchaser intends to exercise its right to participate in a Covered Project and the amount
of such Purchaser’s participation, and representing and warranting that such Purchaser has such funds ready, willing, and
available for investment on the terms set forth in the Project Notice. If the Company receives no such notice from a Purchaser
as of such time, such Purchaser shall be deemed to have notified the Company that it does not elect to participate. If the Purchaser
elects to participate in a Covered Project, the Company and any and participating Purchasers shall form a special purpose entity,
on terms agreeable to the Company and the Purchasers, for the purpose of investing in such Covered Project. Under no circumstances
shall the right of participation described herein expire earlier than as set forth above and the Company shall not undertake any
act, or enter into any transaction, that would directly or indirectly impair such right of participation prior to the agreed expiration
date.

 

    	11

     

    

 

5.           CLOSING.

 

a.           Closing. Promptly
upon the execution and delivery of this Agreement, the Notes, and all conditions in Sections 6 and 7 herein are met (the “Closing
Date”), (A) the Company shall deliver to the Purchaser the following: (i) the Notes; (ii) the Warrants; and (ii) duly executed
counterparts of the other Transaction Documents; and (B) the Purchaser shall deliver to the Company the following: (i) the purchase
price set forth on the signature page hereof (the “Purchase Price”) and (ii) duly executed counterparts of the Transaction
Documents (as applicable).

 

b.           Location and
Time of Closings. Each Closing shall be deemed to occur on the related Closing Date at the office of the Company’s counsel
and shall take place no later than 5:00 P.M., New York time, on such day or such other time as is mutually agreed upon by the Company
and the Purchaser.

 

6.           CONDITIONS TO THE COMPANY’S
OBLIGATION TO SELL.

 

The Company’s
obligation to sell the Notes and Warrants to the Purchaser pursuant to this Agreement on each Closing Date is conditioned upon:

 

a.           Purchase Price.
Delivery to the Company of good funds as payment in full of the Purchase Price for the Securities at the Closing in accordance
with this Agreement;

 

b.           Representations
and Warranties; Covenants.  The accuracy on the Closing Date of the representations and warranties of the Purchaser contained
in this Agreement, each as if made on such date, and the performance by the Purchaser on or before such date of all covenants and
agreements of the Purchaser required to be performed on or before such date; and

 

c.           Laws and Regulations;
Consents and Approvals. There shall not be in effect any law, rule or regulation prohibiting or restricting the transactions
contemplated hereby, or requiring any consent or approval which shall not have been obtained.

 

7.           CONDITIONS TO THE PURCHASER’S
OBLIGATION TO PURCHASE.

 

The Purchaser’s
obligation to purchase the Notes and Warrants at each Closing is conditioned upon:

 

    	12

     

    

 

a.           Transaction
Documents. The execution and delivery of this Agreement by the Company;

 

b.           Securities.
Delivery by the Company to the Purchaser of the Notes and Warrants to be purchased in accordance with this Agreement; 

 

c.           Section 4(2)
Exemption. The Notes and Warrants sold pursuant to the Transaction Documents shall be exempt from registration under the Securities
Act of 1933 (as amended), pursuant to Section 4(2) thereof;

 

d.           Representations
and Warranties; Covenants. The accuracy in all material respects on the Closing Date of the representations and warranties
of the Company contained in this Agreement, each as if made on such date, and the performance by the Company on or before such
date of all covenants and agreements of the Company required to be performed on or before such date;

 

8.           GOVERNING LAW; MISCELLANEOUS. 

 

a.           Governing Law.
This Agreement shall be delivered and accepted in and shall be deemed to be contracts made under and governed by the internal
laws of the State of New York, and for all purposes shall be construed in accordance with the laws of the State of New York, without
giving effect to the choice of law provisions.

 

b.           Waivers.
Failure of any party to exercise any right or remedy under this Agreement or otherwise, or delay by a party in exercising such
right or remedy, shall not operate as a waiver thereof.

 

c.           Successors and
Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and assigns of each of the parties
hereto.

 

d.           Construction.
All pronouns and any variations thereof refer to the masculine, feminine or neuter, singular or plural, as the context may require.

 

e.           Facsimiles;
E-mails. A facsimile or email transmission of this signed Agreement or a Notice of Conversion under the Notes or Notice of
Exercise under the Warrants shall be legal and binding on all parties hereto. Such electronic signatures shall be the equivalent
of original signatures.

 

f.           Counterparts.
This Agreement may be signed in one or more counterparts, each of which shall be deemed an original.

 

g.          Headings.
The headings of this Agreement are for convenience of reference and shall not form part of, or affect the interpretation of, this
Agreement.

 

h.          Enforceability.
If any provision of this Agreement shall be invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall
not affect the validity or enforceability of the remainder of this Agreement or the validity or enforceability of this Agreement
in any other jurisdiction.

 

    	13

     

    

 

i.            Amendment.
This Agreement may be amended only by the written consent of a majority in interest of the holders of the Debentures and an instrument
in writing signed by the Company.

 

j.            Entire Agreement.
This Agreement, together with the other Transaction Documents, supersedes all prior agreements and understandings among the parties
hereto with respect to the subject matter hereof.

 

k.           No Strict Construction.
This Agreement shall be construed as if both Parties had equal say in its drafting, and thus shall not be construed against the
drafter.

 

l.            Further Assurances.
Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall execute and deliver
all such other agreements, certificates, instruments and documents, as the other party may reasonably request in order to carry
out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby.

 

9.           NOTICES.

Any notice required
or permitted hereunder shall be given in writing (unless otherwise specified herein) and shall be deemed effectively given on the
earliest of:

 

a.           the date delivered,
if delivered by personal delivery as against written receipt therefor or by confirmed facsimile transmission,

 

b.           the seventh business
day after deposit, postage prepaid, in the United States Postal Service by registered or certified mail, or

 

c.           the third business
day after mailing by next-day express courier, with delivery costs and fees prepaid, in each case, addressed to each of the other
parties thereunto entitled at the following addresses (or at such other addresses as such party may designate by ten (10) days’
advance written notice similarly given to each of the other parties hereto):

 

	COMPANY:	BioHiTech Global, Inc.
	 	80 Red Schoolhouse Road, Suite 101
	 	Chestnut Ridge, NY 10977
	 	Attention:
	 	Email:

 

    	14

     

    

 

	 	With copies to (which shall not constitute notice):
	 	 
	PURCHASER:	 
	 	 
	 	To the address set forth on the signature page hereof.

 

[Signature Page Follows]

 

    	15

     

    

 

IN
WITNESS WHEREOF, the undersigned has executed this SECURITIES PURCHASE Agreement on the date set forth below.

 

The undersigned is subscribing for [_________]
Note(s) at the purchase price of $100,000 per Note for an aggregate investment of [$______].

 

The Note(s) is/are
to be issued in the name of (check one box):

 

		____	individual name

		____	joint tenants with rights of survivorship

		____	tenants in the entirety

		____	corporation (an officer must sign)

		____	Partnership (all general partners must sign)

 

	Date:	 	 	 
	 	 	 	 
	Print Name of Investor:	 	 	 
	 	 	 	 
	Signature of Investor:	 	 	 
	 	(and title if signing on behalf of an entity)

 

	Print Name of Joint Investor:	 
	 	 
	Signature of Joint Investor:	 
	 	 
	Address of Investor:	 
	 	 
	 	 
	 	 

 

	Social Security Number (if individual):	 	 	 
	 	 	 	 
	Tax Identification Number (if entity):	 	 	 
	 	 	 	 
	State of Organization (if entity):	 	 	 

 

	AGREED TO AND ACCEPTED:	 
	 	 
	As of _______, 2017	 
	 	 
	BIOHITECH GLOBAL, INC.	 
	 	 	 
	By:	 	 
	 	Name:	 
	 	Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00271-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00271-of-00352.parquet"}]]