Document:

EX-10.6

 Exhibit 10.6 
  

 
  

FORM OF 
 ASSET
REPRESENTATIONS REVIEW AGREEMENT 
 [            ], 

as Issuer 
 and 

SANTANDER CONSUMER USA INC., 
 as
Sponsor and Servicer 
 and 

[            ], 

as Asset Representations Reviewer 
  

 
 Dated as of
[    ], [    ]. 20[    ] 
  

 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 ARTICLE I. DEFINITIONS
	  	 	1	 
			
	 Section 1.01
	 	Definitions	  	 	1	 
		
	 ARTICLE II. ENGAGEMENT; ACCEPTANCE
	  	 	2	 
			
	 Section 2.01
	 	Engagement; Acceptance	  	 	2	 
			
	 Section 2.02
	 	Eligibility of Asset Representations Reviewer	  	 	3	 
			
	 Section 2.03
	 	Independence of the Asset Representations Reviewer	  	 	3	 
		
	 ARTICLE III. DUTIES OF THE ASSET REPRESENTATIONS REVIEWER
	  	 	3	 
			
	 Section 3.01
	 	Review Scope	  	 	3	 
			
	 Section 3.02
	 	Review Notices	  	 	3	 
			
	 Section 3.03
	 	Review Materials	  	 	4	 
			
	 Section 3.04
	 	Missing or Incomplete Review Materials	  	 	4	 
			
	 Section 3.05
	 	The Asset Review	  	 	5	 
			
	 Section 3.06
	 	Review Period	  	 	5	 
			
	 Section 3.07
	 	Review Report	  	 	5	 
			
	 Section 3.08
	 	Completion of Review for Certain Subject Receivables	  	 	5	 
			
	 Section 3.09
	 	Termination of Review	  	 	6	 
			
	 Section 3.10
	 	Review and Procedure Limitations	  	 	6	 
			
	 Section 3.11
	 	Review Systems	  	 	6	 
			
	 Section 3.12
	 	Representatives	  	 	6	 
			
	 Section 3.13
	 	Dispute Resolution	  	 	7	 
			
	 Section 3.14
	 	Records Retention	  	 	7	 
			
	 Section 3.15
	 	No Delegation	  	 	7	 
		
	 ARTICLE IV. PAYMENTS TO ASSET REPRESENTATIONS REVIEW
	  	 	7	 
			
	 Section 4.01
	 	Annual Fee	  	 	7	 
			
	 Section 4.02
	 	Review Fee	  	 	8	 
			
	 Section 4.03
	 	Dispute Resolution Expenses	  	 	8	 
			
	 Section 4.04
	 	Payment	  	 	9	 
			
	 Section 4.05
	 	Payments by the Issuer	  	 	9	 
		
	 ARTICLE V. OTHER MATTERS PERTAINING TO THE ASSET REPRESENTATIONS REVIEWER
	  	 	9	 

  

					
		 	-i-	  	

 Asset Representations Review Agreement (SDART 20[ ]-[ ]) 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
	 Section 5.01
	 	Representations and Warranties of the Asset Representations Reviewer	  	 	9	 
			
	 Section 5.02
	 	Limitation of Liability of Asset Representations Reviewer	  	 	10	 
			
	 Section 5.03
	 	Indemnification of Asset Representations Reviewer	  	 	10	 
			
	 Section 5.04
	 	Indemnification by Asset Representations Reviewer	  	 	11	 
		
	 ARTICLE VI. REMOVAL, RESIGNATION; SUCCESSOR ASSET REPRESENTATION REVIEWER
	  	 	11	 
			
	 Section 6.01
	 	Eligibility Requirements for Asset Representations Reviewer	  	 	11	 
			
	 Section 6.02
	 	Resignation and Removal of Asset Representations Reviewer	  	 	12	 
			
	 Section 6.03
	 	Successor Asset Representations Reviewer	  	 	12	 
			
	 Section 6.04
	 	Merger, Consolidation or Succession	  	 	13	 
		
	 ARTICLE VII. TREATMENT OF CONFIDENTIAL INFORMATION
	  	 	13	 
			
	 Section 7.01
	 	Confidential Information	  	 	13	 
			
	 Section 7.02
	 	Safeguarding Personally Identifiable Information	  	 	15	 
		
	 ARTICLE VIII. OTHER MATTERS PERTAINING TO THE ISSUER
	  	 	16	 
			
	 Section 8.01
	 	Termination of this Agreement	  	 	16	 
			
	 Section 8.02
	 	Limitation of Liability	  	 	16	 
		
	 ARTICLE IX. MISCELLANEOUS PROVISIONS
	  	 	16	 
			
	 Section 9.01
	 	Amendment	  	 	16	 
			
	 Section 9.02
	 	Notices, Etc.	  	 	18	 
			
	 Section 9.03
	 	Severability Clause	  	 	18	 
			
	 Section 9.04
	 	Governing Law	  	 	18	 
			
	 Section 9.05
	 	Headings	  	 	18	 
			
	 Section 9.06
	 	Counterparts and Electronic Signature	  	 	18	 
			
	 Section 9.07
	 	Waivers	  	 	19	 
			
	 Section 9.08
	 	Entire Agreement	  	 	19	 
			
	 Section 9.09
	 	Severability of Provisions	  	 	19	 
			
	 Section 9.10
	 	Binding Effect	  	 	19	 
			
	 Section 9.11
	 	Cumulative Remedies	  	 	19	 
			
	 Section 9.12
	 	Nonpetition Covenant	  	 	20	 
			
	 Section 9.13
	 	Submission to Jurisdiction; Waiver of Jury Trial	  	 	20	 

  
 -ii- 

Asset Representations Review Agreement (SDART 20[ ]-[ ]) 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
	 Section 9.14
	 	Third-Party Beneficiaries	  	 	20	 

 Exhibit A – Agreed Upon Procedures 

  
 -iii- 

Asset Representations Review Agreement (SDART 20[ ]-[ ]) 

 ASSET REPRESENTATIONS REVIEW AGREEMENT 

This ASSET REPRESENTATIONS REVIEW AGREEMENT is made and entered into as of [ ], [    ]. 20[ ] (this
“Agreement”), by and between [                ], a Delaware statutory trust (the “Issuer”), Santander Consumer USA Inc., an Illinois
corporation (“SC”, and in its capacity as sponsor, the “Sponsor”, and in its capacity as servicer, the “Servicer”), and
[                ], a [                ]
(“[                ]”, and in its capacity as asset representations reviewer, the “Asset Representations
Reviewer”). 
 WHEREAS, the Issuer will engage the Asset Representations Reviewer to perform reviews of Receivables for compliance
with the representations and warranties made by the Sponsor regarding such Receivables. 
 NOW, THEREFORE, in consideration of the mutual
agreements herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows: 

ARTICLE I. 
 DEFINITIONS

 Section 1.01 Definitions. Except as otherwise defined herein or as the context may otherwise require, capitalized terms
used but not otherwise defined herein are defined in Appendix A to the Sale and Servicing Agreement dated as of the date hereof (as from time to time amended, supplemented or otherwise modified and in effect, the
“Sale and Servicing Agreement”) between the Issuer, the Servicer, Santander Drive Auto Receivables LLC and [______________], as indenture trustee, which also contains rules as to usage that are applicable herein. 

Whenever used in this Agreement, the following words and phrases shall have the following meanings: 

“Annual ARR Fee” has the meaning set forth in Section 4.01. 

“Asset Review” means the completion by the Asset Representations Reviewer of the “Tests” set forth in Exhibit A for
each Subject Receivable as further described in Section 3.05. 
 “Client Records” has the meaning
set forth in Section 3.14. 
 “Confidential Information” has the meaning set forth in
Section 7.01. 
 “Disclosing Party” has the meaning set forth in
Section 7.01. 
 “Eligible Asset Representations Reviewer” means a Person who (i) is not,
and is not Affiliated with, the Sponsor, the Depositor, the Servicer, the Indenture Trustee, the Owner Trustee or any of their Affiliates and (ii) was not engaged or Affiliated with a Person that was engaged by the Sponsor or any Underwriter to
perform any due diligence on the Receivables prior to the Closing Date. 

  

					
		 		  	Asset Representations Review Agreement (SDART 20[ ]-[ ])

 “Eligibility Representations” shall mean those representations identified
in Exhibit A. 
 “Indemnified Person” has the meaning set forth in Section 5.03. 

“Personally Identifiable Information” or “PII” has the meaning set forth in
Section 7.02. 
 “Privacy Laws” has the meaning set forth in
Section 7.02. 
 “Receiving Party” has the meaning set forth in
Section 7.01. 
 “Representatives” has the meaning set forth in
Section 7.01. 
 “Review Fee” has the meaning set forth in
Section 4.02. 
 “Review Invoice” means, with respect to any Asset Review, a detailed invoice
prepared by the Asset Representations Reviewer setting forth the calculation of the applicable Review Fee for such Asset Review. 

“Review Materials” means the documents, data, and other information required for each “Test” in Exhibit A. 

“Review Period” has the meaning set forth in Section 3.06. 

“Review Report” has the meaning set forth in Section 3.07. 

“Subject Receivables” means, for any Asset Review, all Receivables which are 60-Day
Delinquent Receivables as of the related Review Satisfaction Date; provided, that any Receivable repurchased by the Sponsor or the Servicer in accordance with the Transaction Documents or paid in full by the related obligor after the Review
Satisfaction Date will no longer be a Subject Receivable. 
 “Tests” mean the procedures listed in Exhibit A as applied to
the process described in Section 3.05. 
 “Test Complete” has the meeting set forth in
Section 3.08. 
 “Test Fail” has the meaning set forth in Section 3.05.

 “Test Incomplete” has the meaning set forth in Section 3.05. 

“Test Pass” has the meaning set forth in Section 3.05. 

ARTICLE II. 

ENGAGEMENT; ACCEPTANCE 

Section 2.01 Engagement; Acceptance. 

  

					
		 	2	  	Asset Representations Review Agreement (SDART 20[ ]-[ ])

 The Issuer hereby engages
[                ] to act as the Asset Representations Reviewer for the Issuer.
[                ] hereby accepts the engagement and agrees to perform the obligations of the Asset Representations Reviewer on the terms stated in this Agreement. 

Section 2.02 Eligibility of Asset Representations Reviewer. 

[                ] represents and warrants to the Issuer and
the Sponsor that it is an Eligible Asset Representations Reviewer. The Asset Representations Reviewer will notify the Issuer, the Sponsor and the Servicer promptly if it is not, or on the occurrence of any action that would result in it not being,
an Eligible Asset Representations Reviewer. 
 Section 2.03 Independence of the Asset Representations Reviewer. 

The Asset Representations Reviewer will be an independent contractor and will not be subject to the supervision of the Issuer, the Indenture
Trustee or the Owner Trustee for the manner in which it accomplishes the performance of its obligations under this Agreement. Unless expressly authorized by the Issuer, the Indenture Trustee or the Owner Trustee, the Asset Representations Reviewer
will have no authority to act for or represent the Issuer, the Indenture Trustee or the Owner Trustee, respectively, and will not be considered an agent of the Issuer, the Indenture Trustee or the Owner Trustee. Nothing in this Agreement will make
the Asset Representations Reviewer and any of the Issuer, the Indenture Trustee or the Owner Trustee members of any partnership, joint venture or other separate entity or impose any liability as such on any of them. 

ARTICLE III. 
 DUTIES OF
THE ASSET REPRESENTATIONS REVIEWER 
 Section 3.01 Review Scope. 

The parties confirm that the Asset Representations Review is not responsible for (a) reviewing the Receivables for compliance with the
representations and warranties under the Transaction Documents, except as described in this Agreement or (b) determining whether noncompliance with the representations and warranties constitutes a breach of the Eligibility Representations. For
the avoidance of doubt, the parties confirm that the review is not designed to determine why an Obligor is delinquent or the creditworthiness of the Obligor, either at the time of any Asset Review or at the time of origination of the related
Receivable. Further, the Asset Review is not designed to establish cause, materiality or recourse for any Test Fail (as defined in Section 3.05). 

Section 3.02 Review Notices. 

Upon receipt of (i) a Review Notice from the Indenture Trustee in accordance with Section 7.6(b) of the
Indenture and (ii) the Review Materials in accordance with Section 3.03 of this Agreement, the Asset Representations Reviewer will start an Asset Review. The Asset Representations Reviewer will not be obligated to
begin, and may not begin, an Asset Review until the Asset Representations Reviewer receives a Review Notice. Within [ten] Business Days of receipt of a Review Notice, the Servicer shall provide the list of Subject Receivables to the

  

					
		 	3	  	Asset Representations Review Agreement (SDART 20[ ]-[ ])

 
Asset Representations Reviewer in the format selected by the Servicer to the address specified in Section 9.02. 

None of the Issuer, the Servicer, the Sponsor or the Asset Representations Reviewer is obligated to verify whether the Indenture Trustee
properly determined that a Review Notice was required. None or the Issuer, the Sponsor or the Asset Representations Reviewer is obligated to verify the accuracy or completeness of the list of Subject Receivables provided by the Servicer. 

Section 3.03 Review Materials. 

The Servicer will provide reasonable assistance to the Asset Representations Reviewer to facilitate the Asset Review. Within [60] days of
receipt by the Servicer of the Review Notice, the Servicer will provide the Asset Representations Reviewer with the Review Materials for all Subject Receivables in one or more of the following ways, as elected by the Servicer: (i) by providing
access to the Servicer’s receivables system, either remotely or at one or more of the properties of the Servicer; (ii) by electronic posting of Review Materials to a password-protected website to which the Asset Representations Reviewer
has access; (iii) by providing originals or photocopies at one or more of the properties of the Servicer where the Receivable Files are located; (iv) by sending originals or photocopies of Review Materials to the Asset Representations
Reviewer at the address specified in Section 9.02; or (v) in another manner agreed to by the Servicer and the Asset Representations Reviewer. The Servicer may redact or remove Personally Identifiable Information from
the Review Materials so long as such redaction or removal does not result in a change in the meaning or usefulness of the Review Materials. The Asset Representations Reviewer shall not be liable for any failure of the Review Materials to be accurate
and complete, including any failure that results in the Review Materials being misleading in any material respect. 
 Section 3.04
Missing or Incomplete Review Materials. 
 The Asset Representations Reviewer will complete the Tests for each Eligible Representation
only using documentation that is made available to it. Upon receipt of the Review Materials, the Asset Representations Reviewer will complete an initial document inventory to verify there are no systemic documentation errors, including but not
limited to consistently missing or incomplete information in the Review Materials with respect to each Subject Receivable. Once the Asset Representations Reviewer has confirmed the majority of the Review Materials have been provided in accordance
with Section 3.03, the Asset Representations Reviewer will commence the Asset Review. In instances where Review Material is not accessible, clearly unidentifiable, and/or illegible, the Asset Representations Reviewer will
request that the Servicer (with a copy to the Sponsor) provide an updated copy of such Review Material. If the Servicer and the Sponsor have not provided the missing Review Material for a Subject Receivable to the Asset Representations Reviewer
within [60] days of notification by the Asset Representations Reviewer, the parties agree that such Subject Receivable will have a Test Incomplete for the related Test(s) and the Review Report will indicate the reason for the Test Incomplete. 

  

					
		 	4	  	Asset Representations Review Agreement (SDART 20[ ]-[ ])

 Section 3.05 The Asset Review. 

For an Asset Review, the Asset Representations Reviewer will perform the applicable procedures listed under “Tests” in Exhibit A for
each Eligibility Representation. In the course of its review, the Asset Representations Reviewer will use the Review Materials listed in Exhibit A. For each Test, the Asset Representations Reviewer will determine if the Test has been satisfied (a
“Test Pass”), if the Test has not been satisfied (a “Test Fail”) or if the Test could not be concluded as a result of missing or incomplete Review Materials (a “Test Incomplete”). 

If a Subject Receivable was included in a prior Asset Review, the Asset Representations Reviewer will not conduct additional Tests on any such
duplicate Subject Receivable unless such Subject Receivable was deemed a Test Incomplete as a result of the failure of the Servicer and the Sponsor to provide missing Review Materials for such Subject Receivable and the Sponsor elects to have such
Subject Receivable included in the current Asset Review. The Asset Representations Reviewer will include the previously reported Test results for any such duplicate Subject Receivable within the Review Report for the current Asset Review. 

Section 3.06 Review Period. 

The Asset Representations Reviewer will complete the Review within [60] days of receiving access to the Review Materials in accordance with
Section 3.03 (such time period, the “Review Period”); provided, that if additional Review Materials are provided to the Asset Representations Reviewer as described in
Section 3.04, the Review Period will be extended for an additional [30] days. 
 Section 3.07 Review
Report. 
 Within [five Business Days] following the end of the applicable Review Period described in
Section 3.06, the Asset Representations Reviewer will provide the Issuer, the Sponsor, the Servicer and the Indenture Trustee with (i) a report (a “Review Report”) specifying for each Subject
Receivable whether there was a Test Pass, a Test Fail, a Test Incomplete (as contemplated by Section 3.05) or a Test Complete (as contemplated by Section 3.08) for each Test and Subject Receivable
and (ii) the related Review Invoice. The Review Report will include a summary of the findings and conclusions of the Asset Representations Reviewer with respect to the Asset Review to be included in the Form
10-D for the Issuer for the Collection Period in which the Review Report is received. The Asset Representations Reviewer will ensure that the Review Report does not contain any Personally Identifiable
Information. For the avoidance of doubt, the Indenture Trustee shall have no obligation to forward the Review Report to any Noteholder or any other person. 

Section 3.08 Completion of Review for Certain Subject Receivables. 

Following the delivery of the list of the Subject Receivables and before the delivery of the Review Report by the Asset Representations
Reviewer, the Servicer may notify the Asset Representations Reviewer if a Subject Receivable is paid in full by or on behalf of the Obligor or purchased from the Issuer by the Sponsor or the Servicer in accordance with the Transaction Documents. On
receipt of notice, the Asset Representations Reviewer will immediately terminate all Tests of such Receivables and the Asset Review of such Receivables will be 

  

					
		 	5	  	Asset Representations Review Agreement (SDART 20[ ]-[ ])

 
considered complete (a “Test Complete”). In this case, the Review Report will indicate a Test Complete for the Receivables and the related reason. 

Section 3.09 Termination of Review. 

If an Asset Review is in process and the Notes will be paid in full on the next Payment Date (including any payment in full as a result of any
early redemption of the Notes), the Servicer will notify the Asset Representations Reviewer and the Indenture Trustee no less than [ten] days before that Payment Date. On receipt of notice, the Asset Representations Reviewer will terminate the Asset
Review immediately and will not be obligated to deliver a Review Report. 
 Section 3.10 Review and Procedure Limitations. 

The Asset Representations Reviewer will have no obligation (i) to determine whether a Delinquency Trigger has occurred, (ii) to
determine whether the required percentage of Noteholders has voted to direct an Asset Review and may rely on the information in any Review Notice delivered by the Indenture Trustee, (iii) to determine which Receivables are Subject Receivables
and may rely on the list of Subject Receivables provided by the Servicer, (iv) to confirm the validity of the Review Materials, (v) other than as specified in Section 3.03, to obtain missing or insufficient Review
Materials, or (vi) to take any action or to cause any other party to take any action under any of the Transaction Documents to enforce any remedies for any breach of a representation, warranty or covenant, including any Eligibility
Representation. 
 The Asset Representations Reviewer shall only be required to perform the testing procedures listed under
“Tests” in Exhibit A, and shall have no obligation to perform additional testing procedures on any Subject Receivables or to consider any additional information provided by any party. The Asset Representations Reviewer shall have no
obligation to provide reporting or other information other than the Review Report described in Section 3.07. However, the Asset Representations Reviewer may provide additional information about any Subject Receivable that
it determines in good faith to be material to its performance of an Asset Review. 
 Section 3.11 Review Systems. 

The Asset Representations Reviewer shall maintain and utilize an electronic case management system to manage the Tests and to provide
systematic control over each step in the Asset Review process and ensure consistency and repeatability for the Tests. The Asset Representations Reviewer will ensure that these systems allow for each Subject Receivable and the related Review
Materials to be individually tracked and stored as contemplated by this Agreement. The Asset Representations Reviewer will maintain adequate staff that is properly trained to conduct Asset Reviews as required by this Agreement. 

Section 3.12 Representatives. 

(a) Servicer Representative. The Servicer will provide reasonable access to one or more designated representatives to respond to
reasonable requests and inquiries made by the Asset Representations Reviewer in its completion of an Asset Review. 

  

					
		 	6	  	Asset Representations Review Agreement (SDART 20[ ]-[ ])

 (b) Asset Representations Review Representative. The Asset Representations Reviewer
will provide reasonable access to one or more designated representatives to respond to reasonable requests and inquiries made by the Servicer, the Sponsor, the Issuer or the Indenture Trustee during the Asset Representations Reviewer’s
completion of an Asset Review. The Asset Representations Reviewer shall have no obligation to respond to requests or inquires, and other than as specified in Section 3.13 shall not respond to requests or inquiries, made by
any Person not party to this Agreement other than the Indenture Trustee; provided, that if the Asset Representations Reviewer receives any request or inquiry from a Person not a party to this Agreement, then the Asset Representations Reviewer
may inform such Person that they may contact the Servicer and/or the Indenture Trustee with respect to such request or inquiry. 

Section 3.13 Dispute Resolution. 

If a Subject Receivable that was reviewed by the Asset Representations Reviewer during an Asset Review is the subject of a dispute resolution
proceeding under Section 9.24 of the Sale and Servicing Agreement, the Asset Representations Reviewer shall participate in the dispute resolution proceeding on request of a party to the proceeding. The reasonable out-of-pocket expenses and reasonable compensation of the Asset Representations Reviewer for its participation in any dispute resolution proceeding will be considered expenses
of the Requesting Party for the dispute resolution and (subject to Section 4.03) will be paid by a party to the dispute resolution as determined by the mediator or arbitrator for the dispute resolution according to
Section 9.24 of the Sale and Servicing Agreement. 
 Section 3.14 Records Retention. 

The Asset Representations Reviewer will maintain copies of Review Materials, Review Reports and internal work papers and correspondence
(collectively the “Client Records”) for a period of [two] years after the termination of this Agreement. At the expiration of the retention period, the Asset Representations Reviewer shall return all Client Records to the Servicer,
in electronic format or, to the extent held in tangible form, in that form. Upon the return of the Client Records, the Asset Representations Reviewer shall have no obligation to retain such Client Records or to respond to inquiries concerning any
Asset Review. 
 Section 3.15 No Delegation. 

The Asset Representations Reviewer may not delegate or subcontract its obligations under this Agreement to any Person without the consent of
the Issuer, the Sponsor and the Servicer. 
 ARTICLE IV. 

PAYMENTS TO ASSET REPRESENTATIONS REVIEW 

Section 4.01 Annual Fee. 

As compensation for its activities hereunder, the Asset Representations Reviewer shall be entitled to receive an annual fee in an amount equal
to $[    ] (the “Annual ARR Fee”) during the term of this Agreement, which shall be paid by or on behalf of the [Issuer][Sponsor] within [30] 

  

					
		 	7	  	Asset Representations Review Agreement (SDART 20[ ]-[ ])

 
days of the date hereof, with respect to the initial Annual ARR Fee, and within [30] days of the annual anniversary of this Agreement with respect to each subsequent Annual ARR Fee; provided,
however, that if the Asset Representations Reviewer resigns or is removed in accordance with Section 6.02, then the Asset Representations Reviewer shall refund to the [Issuer][Sponsor] the portion of the Annual ARR Fee
attributable to the portion of the annual period during which [                ] will no longer act as the Asset Representations Reviewer, assuming for purposes of such
calculation that the Annual ARR Fee for each day during the annual period is an amount equal to the Annual ARR Fee divided by 365. 

Section 4.02 Review Fee. 

Following the completion of an Asset Review and delivery to the Indenture Trustee, the [Issuer][Sponsor], the Servicer and the Issuer of the
Review Report and the related Review Invoice, the Sponsor shall pay to the Asset Representations Reviewer a fee of $[    ] [for each Subject Receivable for which the Asset Review was completed][per hour for its time spent
conducting the Asset Review][as a flat fee for such Review][plus reasonable out-of-pocket expenses incurred in connection with travel to the location at which Review
Materials are made available in accordance with Section 3.03] (the “Review Fee”). However, no Review Fee will be charged for any Subject Receivable which was included in a prior Asset Review or for which no
Tests were completed prior to the Asset Representations Reviewer being notified of a termination of the Asset Review according to Section 3.09. [To the extent not paid by the [Issuer][Sponsor] and outstanding for at least
[90] days after receipt by the Indenture Trustee, the Sponsor, the Servicer and the Issuer of the Review Invoice, the Review Fee shall be paid by the Issuer pursuant to the priority of payments sets forth in Section 4.4 of
the Sale and Servicing Agreement or Section 5.4(b) of the Indenture, as applicable. For the avoidance of doubt, there shall be no aggregate limit on the Review Fee paid by the Sponsor to the Asset Representations Reviewer
pursuant to this Section 4.02.] 
 Section 4.03 Dispute Resolution Expenses. 

If the Asset Representations Reviewer participates in a dispute resolution proceeding under Section 3.13 and its
reasonable out-of-pocket expenses and reasonable compensation for the time it incurs in participating in the proceeding are not paid by a party to the dispute resolution
within [ninety (90)] days of the end of the proceeding, the [Issuer][Sponsor] will reimburse the Asset Representations Reviewer for such expenses upon receipt of a detailed invoice. 

  

					
		 	8	  	Asset Representations Review Agreement (SDART 20[ ]-[ ])

 Section 4.04 Payment. 

All payments made to the Asset Representations Reviewer shall be made to the account specified by the Asset Representations Reviewer from time
to time in writing to the Indenture Trustee, the Sponsor, the Servicer and the Issuer. 
 Section 4.05 Payments by the Issuer.

 [The Asset Representations Reviewer acknowledges and agrees that any payments payable by the Issuer under this Agreement, including
pursuant to this Article IV or Section 5.03, shall be limited to amounts available to make such payments pursuant to Section 4.4 of the Sale and Servicing Agreement and
Section 5.4(b) of the Indenture, as applicable. ] 
 ARTICLE V. 

OTHER MATTERS PERTAINING TO THE ASSET REPRESENTATIONS REVIEWER 

Section 5.01 Representations and Warranties of the Asset Representations Reviewer. 

[                ] hereby makes the following representations
and warranties as of the date hereof: 
 (a) Existence and Power.
[                ] is a [                ] validly existing and in good standing under
the laws of its state of [    ] and has, in all material respects, full power and authority to own its assets and operate its business as presently owned or operated, and to execute, to deliver and to perform its obligations
under this Agreement. [                ] has obtained all necessary licenses and approvals in each jurisdiction where the failure to do so would materially and adversely
affect the ability of [                ] to perform its obligations under this Agreement. 

(b) Authorization and No Contravention. The execution, delivery and performance by
[                ] of the Transaction Documents to which it is a party have been duly authorized by all necessary [    ] action on the part of
[                ] and do not contravene or constitute a default under (i) any applicable law, rule or regulation, (ii) its organizational documents or
(iii) any material indenture or material agreement or instrument to which [                ] is a party or by which its properties are bound (other than violations
of such laws, rules, regulations, organizational documents, indentures, agreements or instruments which do not affect the legality, validity or enforceability of any of such agreements and which, individually or in the aggregate, would not
materially and adversely affect the transactions contemplated by, or [                ]’s ability to perform its obligations under, this Agreement). 

(c) No Consent Required. No approval or authorization by, or filing with, any Governmental Authority is required in connection with the
execution, delivery and performance by [                ] of this Agreement other than (i) approvals and authorizations that have previously been obtained and
filings that have previously been made and (ii) approvals, authorizations or filings which, if not obtained or made, would not have a material adverse effect on the ability of
[                ] to perform its obligations under this Agreement. 

(d) Binding Effect. This Agreement constitutes the legal, valid and binding obligation of
[                ] enforceable against [                ] in accordance with its terms,
except as such 

  

					
		 	9	  	Asset Representations Review Agreement (SDART 20[ ]-[ ])

 
enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, receivership, conservatorship or other similar laws affecting the enforcement of creditors’
rights generally and, if applicable, the rights of creditors of corporations from time to time in effect or by general principles of equity. 

(e) No Proceedings. There are no actions, orders, suits or proceedings pending or, to the knowledge of
[                ], threatened against [                ] before or by any Governmental
Authority that (i) assert the invalidity or unenforceability of this Agreement or (ii) seek any determination or ruling that would materially and adversely affect the performance by
[                ] of its obligations under this Agreement. 

(f) Eligibility. The Asset Representations Reviewer is an Eligible Asset Representations Reviewer. 

Section 5.02 Limitation of Liability of Asset Representations Reviewer. 

To the fullest extent permitted by applicable law, the Asset Representations Reviewer shall not be under any liability to the Issuer, the
Servicer, the Depositor, the Indenture Trustee, the Owner Trustee, any Noteholder or any other Person for any action taken or for refraining from the taking of an action in its capacity as Asset Representations Reviewer pursuant to this Agreement,
or for errors in judgment, whether arising from express or implied duties under this Agreement; provided, however, that this provision shall not protect the Asset Representations Reviewer against any liability which would otherwise be
imposed by reason of willful misconduct, bad faith, breach of this Agreement or negligence in the performance of its duties. In no event will the Asset Representations Reviewer be liable for special, indirect or consequential loss or damage
(including loss of profit) even if the Asset Representations Reviewer has been advised of the likelihood of the loss or damage and regardless of the form of action. 

The Asset Representations Reviewer and any director, officer, employee, or agent may rely in good faith on any document of any kind prima
facie properly executed and submitted by any Person respecting any matters arising hereunder. The Asset Representations Reviewer shall not be under any obligation to appear in, prosecute or defend any legal action which is not incidental to its
duties as Asset Representations Reviewer hereunder. 
 Section 5.03 Indemnification of Asset Representations Reviewer. 

(a) The Sponsor will indemnify the Asset Representations Reviewer and its officers, directors, employees and agents (each, an
“Indemnified Person”), for all costs, expenses, losses, damages and liabilities resulting from the performance of the Asset Representations Reviewer’s obligations under this Agreement (including the costs and expenses of
defending itself against any loss, damage or liability), but excluding any cost, expense, loss, damage or liability resulting from (i) the Asset Representations Reviewer’s willful misconduct, bad faith or negligence or (ii) the Asset
Representations Reviewer’s breach of any of its representations, warranties or covenants in this Agreement. To the extent not paid by the Sponsor, any such indemnification amounts shall be paid by the Issuer pursuant to the priority of payments
set forth in Section 4.4 of the Sale and Servicing Agreement or Section 5.4(b) of the Indenture, as applicable. 

  

					
		 	10	  	Asset Representations Review Agreement (SDART 20[ ]-[ ])

 (b) The indemnification set forth in this Section 5.03 will
survive the termination of this Agreement and the resignation or removal of the Asset Representations Reviewer. 
 (c) If the Sponsor or the
Issuer makes any payment under this Section 5.03 and the Indemnified Person later collects any of the amounts for which the payments were made to it from others, the Indemnified Person will promptly repay the amount to the
Sponsor or the Issuer, as applicable. 
 Section 5.04 Indemnification by Asset Representations Reviewer. 

(a) To the fullest extent permitted by law, the Asset Representations Reviewer shall indemnify and hold harmless each of the Issuer, the Owner
Trustee, the Servicer, the Sponsor and the Indenture Trustee, and its officers, directors, successors, assigns, legal representatives, agents, and servants (each an “Indemnified Person”), from and against any and all liabilities,
obligations, losses, damages, penalties, taxes, claims, actions, investigations, proceedings, costs, expenses or disbursements (including reasonable legal fees and expenses) of any kind and nature whatsoever which may be imposed on, incurred by, or
asserted at any time against an Indemnified Person (whether or not also indemnified against by any other person) which arose out of the negligence, willful misconduct or bad faith of the Asset Representations Reviewer in the performance of its
obligations and duties under this Agreement; provided, however, that the Asset Representations Reviewer shall not be liable for or required to indemnify an Indemnified Person from and against expenses arising or resulting from
(i) the Indemnified Person’s own willful misconduct, bad faith or negligence, or (ii) the breach of any representation, warranty or covenant made by the Indemnified Person. 

(b) In case any such action, investigation or proceeding will be brought involving an Indemnified Person as contemplated by
Section 5.04(a), the Asset Representations Reviewer will assume the defense thereof, including the employment of counsel and the payment of all expenses. The Issuer, the Servicer, the Sponsor and the Indenture Trustee each
will have the right to employ separate counsel in any such action, investigation or proceeding and to participate in the defense thereof and the reasonable fees and expenses of such counsel will be paid by the Asset Representations Reviewer. In the
event of any claim, action, or proceeding for which indemnity will be sought pursuant to this Section 5.04, the Issuer’s, the Servicer’s, the Sponsor’s and the Indenture Trustee’s choice of legal counsel
shall be subject to the good faith objection by the Asset Representations Reviewer to a conflict of interest under the applicable rules of professional conduct. 

(c) The indemnification set forth in this Section 5.04 will survive the termination or assignment of this Agreement
and the resignation or removal of the Asset Representations Reviewer or any Indemnified Person. 
 ARTICLE VI. 

REMOVAL, RESIGNATION; SUCCESSOR ASSET REPRESENTATION REVIEWER 

Section 6.01 Eligibility Requirements for Asset Representations Reviewer. The Asset Representations Reviewer must be an Eligible
Asset Representations Reviewer. 

  

					
		 	11	  	Asset Representations Review Agreement (SDART 20[ ]-[ ])

 Section 6.02 Resignation and Removal of Asset Representations Reviewer. 

(a) No Resignation of Asset Representations Reviewer. The Asset Representations Reviewer may not resign as Asset Representations
Reviewer except (i) if the Asset Representations Reviewer is no longer an Eligible Asset Representations Reviewer, (ii) upon a determination that the performance of its duties under this Agreement is no longer permissible under applicable
law or (iii) if it does not receive payment in full of any amounts required to be paid to the Asset Representations Reviewer in accordance with Article IV and pursuant to an undisputed invoice, which failure continues unremedied for a period of
[ninety (90)] days after written notice of such failure shall have been given to the Issuer, the Sponsor and the Indenture Trustee. Without limiting the foregoing, the Asset Representations Review shall promptly resign if it is no longer an Eligible
Asset Representations Reviewer. If the Asset Representations Reviewer resigns pursuant to clause (ii) above, the Asset Representations Reviewer shall deliver a notice of resignation to the Issuer and the Servicer, with a copy to the Indenture
Trustee, no less than [thirty (30)] days prior to the date of its resignation. 
 (b) Removal of Asset Representations Reviewer. If
any of the following events occur, the Indenture Trustee may, or, at the direction of Noteholders evidencing a majority of the aggregate Outstanding Amount of the Notes shall, by notice to the Asset Representations Reviewer, remove the Asset
Representations Reviewer and terminate its rights and obligations under this Agreement: 
 (i) [the Asset Representations
Reviewer is no longer an Eligible Asset Representations Reviewer; 
 (ii) the Asset Representations Reviewer breaches any of
its representations, warranties, covenants or obligations in this Agreement; or 
 (iii) a Bankruptcy Event of the Asset
Representations Reviewer occurs.] 
 (c) Notice of Resignation or Removal. The Servicer will notify the Issuer, the Owner Trustee and
the Indenture Trustee of any resignation or removal of the Asset Representations Reviewer. 
 Section 6.03 Successor Asset
Representations Reviewer. 
 (a) Engagement of Successor Asset Representations Reviewer. Following the resignation or removal of
the Asset Representations Reviewer, (i) if the Delinquency Percentage has exceeded the Delinquency Trigger as of the most recent Payment Date, the Indenture Trustee (at the direction of the Noteholders, provided, that if the Indenture Trustee
has received conflicting or inconsistent requests from two or more groups of Noteholders, each representing less than the majority of the Note Balance, the Indenture Trustee shall follow the direction of the Noteholders representing the greater
percentage of the Note Balance) and (ii) if the Delinquency Percentage has not exceeded the Delinquency Trigger as of the most recent Payment Date, the Sponsor, will appoint a successor Asset Representations Reviewer which is an Eligible Asset
Representations Reviewer. 

  

					
		 	12	  	Asset Representations Review Agreement (SDART 20[ ]-[ ])

 (b) Effectiveness of Resignation or Removal. No resignation or removal of the Asset
Representations Reviewer will be effective until the successor Asset Representations Reviewer has executed and delivered to the Issuer, the Sponsor and the Servicer an agreement accepting its engagement and agreeing to perform the obligations of the
Asset Representations Reviewer under this Agreement or entered into a new agreement with the Issuer, the Sponsor and the Servicer on substantially the same terms as this Agreement. 

(c) Transition and Expenses. If the Asset Representations Review resigns or is removed, the Asset Representations Reviewer will
cooperate with the Issuer and take all actions reasonably requested to assist the Issuer in making an orderly transition of the Asset Representations Reviewer’s rights and obligations under this Agreement to the successor Asset Representations
Reviewer. The Asset Representations Reviewer will pay the reasonable expenses (including the fees and expenses of counsel) of transitioning the Asset Representations Reviewer’s obligations under this Agreement and preparing the successor Asset
Representations Reviewer to take on such obligations on receipt of an invoice with reasonable detail of the expenses from the Issuer or the successor Asset Representations Reviewer. 

Section 6.04 Merger, Consolidation or Succession. Any Person (a) into which the Asset Representations Reviewer is merged or
consolidated, (b) resulting from any merger or consolidation to which the Asset Representations Reviewer is a party or (c) succeeding to the business of the Asset Representations Reviewer, if that Person is an Eligible Asset
Representations Reviewer, will be the successor to the Asset Representations Reviewer under this Agreement. Such Person will execute and deliver to the Issuer, the Sponsor and the Servicer an agreement to assume the Asset Representations
Reviewer’s obligations under this Agreement (unless the assumption happens by operation of law). 
 ARTICLE VII. 

TREATMENT OF CONFIDENTIAL INFORMATION 

Section 7.01 Confidential Information. 

(a) Confidential Information Defined. For the purposes of this Agreement, “Confidential Information” means nonpublic
proprietary information of a party (the “Disclosing Party”) that is disclosed to the other party (the “Receiving Party”), including but not limited to: (i) business or technical processes, formulae, source
codes, object code, product designs, sales, cost and other unpublished financial information, customer information, product and business plans, projections, marketing data or strategies, trade secrets, intellectual property rights, know-how, expertise, methods and procedures for operation, information about employees, customer names, business or technical proposals, and any other information which is or should reasonably be understood to be
confidential or proprietary to the Disclosing Party; (ii) PII (as defined in Section 7.02 of this Agreement). The foregoing definition of Confidential Information applies to: (i) all such information, whether
tangible or intangible and regardless of the medium in which it is stored or presented; and (ii) all copies of such information, as well as all memoranda, notes, summaries, analyses, computer records, and other materials prepared by the
Receiving Party or any of its employees, agents, advisors, directors, officers, and subcontractors (collectively “Representatives”) that contain or reflect the Confidential Information. 

  

					
		 	13	  	Asset Representations Review Agreement (SDART 20[ ]-[ ])

 (b) Use of Confidential Information. Each party acknowledges that during the term of
this Agreement it may be exposed to or acquire Confidential Information of the other party or its Affiliates. The Receiving Party shall hold the Confidential Information of the Disclosing Party in strict confidence and will not disclose such
information except to its Representatives who have a need to know such information for the purpose of effecting the terms and conditions of this Agreement and who have entered into an agreement with the Receiving Party with confidentiality
restrictions materially equivalent to those contained herein. The Receiving Party shall be responsible for the breach of this Agreement by any of its Representatives. The Receiving Party will protect the Disclosing Party’s Confidential
Information using the same degree of care that it uses to protect its own information of like import, but in no event with less than a commercially reasonable standard of care. 

(c) Exceptions. Confidential Information shall not include, and this Agreement imposes no obligations with respect to, information that:

 (i) is or becomes part of the public domain other than by disclosure by a party in violation of this Agreement; 

(ii) was disclosed to a party prior to the effective date of this Agreement without a duty of confidentiality; 

(iii) is independently developed by a party outside of this Agreement and without reference to or reliance on any Confidential
Information of the other party; or 
 (iv) was obtained from a third party not known after reasonable inquiry to be under a
duty of confidentiality. 
 The foregoing exceptions shall not apply to any PII, which shall remain confidential in all circumstances,
except as required or permitted to be disclosed by applicable law, statute, or regulation. 
 (d) Disclosure by Operation of Law. If
either party is requested to disclose all or any part of any Confidential Information under a subpoena, or inquiry issued by a court of competent jurisdiction or by a judicial or administrative agency or legislative body or committee, such party
shall (i) to the extent permitted by law, promptly notify the other party of the existence, terms and circumstances surrounding such request; (ii) consult with the other party on the advisability of taking legally available steps to resist
or narrow such request and cooperate with such Party on any steps it considers advisable; and (iii) if disclosure of the Confidential Information is required or deemed advisable, exercise commercially reasonable efforts to obtain an order,
stipulation or other reliable assurance that confidential treatment shall be accorded to such portion of the Confidential Information to be disclosed. Each party shall reimburse the other party for reasonable legal fees and expenses incurred in
connection with such party’s effort to comply with this section. 
 (e) Return of Confidential Information. Upon the request of
the Disclosing Party, the Receiving Party shall return all Confidential Information to the Disclosing Party provided to it pursuant to this Agreement; provided, however, (i) the Receiving Party shall be permitted to retain copies of the
Disclosing Party’s Confidential Information solely for archival, audit, 

  

					
		 	14	  	Asset Representations Review Agreement (SDART 20[ ]-[ ])

 
disaster recovery, legal and/or regulatory purposes, and (ii) neither party will be required to search archived electronic back-up files of its
computer systems for the other party’s Confidential Information in order to purge the other party’s Confidential Information from its archived files; provided further, that any Confidential Information so retained will (x) remain
subject to the obligations and restrictions contained in this Agreement, (y) will be maintained in accordance with the retaining party’s document retention policies and procedures, and (z) the retaining party will not use the retained
Confidential Information for any other purpose. 
 (f) Remedies. The parties agree that an actual or threatened breach of this Section
by it or its Representatives may cause irreparable damage to the Disclosing Party and that damages may not be an adequate remedy for any such breach. Accordingly, each party shall be entitled to seek injunctive relief to restrain any such breach,
threatened or actual, without the necessity of posting bond, in addition to any other remedies available to such party at law or in equity. 

Section 7.02 Safeguarding Personally Identifiable Information. 

(a) Definition. “Personally Identifiable Information”, or “PII”, means information in any format about
an identifiable individual, including, name, address, phone number, e-mail address, account number(s), identification number(s), any other actual or assigned attribute associated with or identifiable to an
individual and any information that when used separately or in combination with other information could identify an individual, as further described in § 501(b) of the Gramm-Leach-Bliley Act and the Interagency Guidelines Establishing Standards
for Safeguarding Customer Information (12 C.F.R. Section 208, Appendix D-2) (collectively, the “Privacy Laws”), that is provided or made available to the Asset Representations Reviewer
pursuant to this Agreement. 
 (b) Non-Disclosure. To the extent the Asset Representations
Reviewer receives Personally Identifiable Information in the performance its obligations hereunder, the Asset Representations Reviewer agrees that it will not disclose or use any Personally Identifiable Information except (i) to the extent
necessary to carry out its obligations under the Agreement and for no other purpose; or (ii) as may be required by valid operation of law. 

(c) Safeguards. To the extent the Asset Representations Reviewer receives Personally Identifiable Information in the performance of
services under this Agreement, the Asset Representations Reviewer represents and warrants that it has, and will continue to have adequate administrative, technical, and physical safeguards: (i) to ensure the security and confidentiality of
Personally Identifiable Information; (ii) to protect against any anticipated threats or hazards to the security or integrity of Personally Identifiable Information; and (iii) to protect against unauthorized acquisition of, access to or use
of Personally Identifiable Information which could result in a “breach” as that term is defined under applicable Privacy Laws. 

(d) Information. The Asset Representations Reviewer agrees to provide the Issuer and the Sponsor with information regarding its privacy
and information security systems, policies and procedures as the Issuer may reasonably request relating to compliance with this Agreement and applicable Privacy Laws. The Asset Representations Reviewer agrees to provide training in the Privacy Laws
and the Asset Representations Reviewer’s information security 

  

					
		 	15	  	Asset Representations Review Agreement (SDART 20[ ]-[ ])

 
policies to all personnel whose duties pursuant to this Agreement could bring them in contact with Personally Identifiable Information. 

(e) Breach. In the event of any actual or apparent theft, unauthorized use or disclosure of any Personally Identifiable Information, the
Asset Representations Reviewer will commence all reasonable efforts to investigate and correct the causes and remediate the results thereof, and as soon as practicable following discovery of any such event, provide the Issuer and the Sponsor notice
thereof, and such further information and assistance as may be reasonably requested. 
 ARTICLE VIII. 

OTHER MATTERS PERTAINING TO THE ISSUER 

Section 8.01 Termination of this Agreement. 

This Agreement will terminate, except for obligations under Section 5.03, Section 5.04,
Section 9.13 and Article VII, on the earlier of (a) the payment in full of all outstanding Notes and the satisfaction and discharge of the Indenture and (b) the date the Issuer is terminated under the Trust
Agreement. 
 Section 8.02 Limitation of Liability. It is expressly understood and agreed by the parties that (a) this
document is executed and delivered by [                ], not individually or personally, but solely as Owner Trustee of the Issuer, in the exercise of the powers and
authority conferred and vested in it, pursuant to the Trust Agreement, (b) each of the representations, warranties, covenants, undertakings and agreements herein made on the part of the Issuer is made and intended not as personal
representations, warranties, covenants undertakings and agreements by [                ], but is made and intended for the purpose of binding only the Issuer,
(c) nothing herein contained shall be construed as creating any liability on [                ], individually or personally, to perform any covenant either
expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any person claiming by, through or under the parties hereto, (d)
[                ] has made no investigation as to the accuracy or completeness of any representations or warranties made by the Issuer or any other Person in this
Agreement and (e) under no circumstances shall [                ] be personally liable for the payment of any indebtedness, indemnities or expenses of the Issuer or
be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement or under the Notes or any of the other Transaction Documents or in any of the certificates, notices or
agreements delivered pursuant thereto, as to all of which recourse shall be had solely to the assets of the Issuer. 
 ARTICLE IX.

 MISCELLANEOUS PROVISIONS 

Section 9.01 Amendment. 

(a) Any term or provision of this Agreement may be amended by the Sponsor, the Servicer and the Asset Representations Reviewer without the
consent of the Indenture Trustee, 

  

					
		 	16	  	Asset Representations Review Agreement (SDART 20[ ]-[ ])

 
any Noteholder, the Issuer, the Owner Trustee or any other Person subject to the satisfaction of one of the following conditions: 

(i) the Sponsor or the Servicer delivers an Opinion of Counsel to the Indenture Trustee to the effect that such amendment will
not materially and adversely affect the interests of the Noteholders; or 
 (ii) the Rating Agency Condition is satisfied
with respect to such amendment and the Sponsor or the Servicer notifies the Indenture Trustee in writing that the Rating Agency Condition is satisfied with respect to such amendment; 

provided, that no amendment pursuant to this Section 9.01(a) shall be effective which affects the rights, protections or
duties of the Indenture Trustee or the Owner Trustee without the prior written consent of such Person. 
 (b) This Agreement may also be
amended from time to time by the Sponsor, the Servicer and the Asset Representations Reviewer, with the consent of the Holders of Notes evidencing not less than a majority of the aggregate principal amount of the Controlling Class, for the purpose
of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement or of modifying in any manner the rights of the Noteholders, provided, that no amendment pursuant to this
Section 9.01(b) shall be effective which affects the rights, protections or duties of the Indenture Trustee or the Owner Trustee without the prior written consent of such Person. It will not be necessary for the consent of
Noteholders to approve the particular form of any proposed amendment or consent, but it will be sufficient if such consent approves the substance thereof. The manner of obtaining such consents (and any other consents of Noteholders provided for in
this Agreement) and of evidencing the authorization of the execution thereof by Noteholders will be subject to such reasonable requirements as the Indenture Trustee may prescribe, including the establishment of record dates pursuant to the
Depository Agreement. 
 (c) Any term or provision of this Agreement may also be amended from time to time by the Sponsor, the Servicer and
the Asset Representations Reviewer for the purpose of conforming the terms of this Agreement to the description thereof in the Prospectus or, to the extent not contrary to the Prospectus, to the description thereof in an offering memorandum with
respect to the 144A Notes or the Certificates without the consent of the Indenture Trustee, any Noteholder, the Issuer, the Owner Trustee or any other Person, provided, however, that the Sponsor, the Servicer and the Asset
Representations Reviewer shall provide written notification of the substance of such amendment to the Indenture Trustee, the Issuer and the Owner Trustee and promptly after the execution of such amendment, the Sponsor and the Servicer shall furnish
a copy of such amendment to the Indenture Trustee, the Issuer and the Owner Trustee. 
 (d) Prior to the execution of any amendment or
consent pursuant to this Section 9.01, the Sponsor shall provide written notification of the substance of such amendment to each Rating Agency; and promptly after the execution of any such amendment or consent, the Sponsor
shall furnish a copy of such amendment or consent to each Rating Agency and the Indenture Trustee. 

  

					
		 	17	  	Asset Representations Review Agreement (SDART 20[ ]-[ ])

 (e) Prior to the execution of any amendment to this Agreement, the Owner Trustee and the
Indenture Trustee shall be entitled to receive and conclusively rely upon an Opinion of Counsel stating that the execution of such amendment is authorized or permitted by this Agreement and that all conditions precedent to the execution and delivery
of such amendment have been satisfied. The Owner Trustee and the Indenture Trustee may, but shall not be obligated to, enter into any such amendment which adversely affects the Owner Trustee’s or the Indenture Trustee’s, as applicable, own
rights, duties or immunities under this Agreement. 
 Section 9.02 Notices, Etc. All demands, notices and communications
hereunder shall be in writing and shall be delivered or mailed by registered or certified first-class United States mail, postage prepaid, hand delivery, prepaid courier service, or by facsimile or by electronic transmission, and addressed in each
case as specified on Schedule I to the Sale and Servicing Agreement or at such other address as shall be designated by any of the specified addressees in a written notice to the other parties hereto. Delivery shall occur only upon receipt or
reported tender of such communication by an officer of the recipient entitled to receive such notices located at the address of such recipient for notices hereunder. 

Section 9.03 Severability Clause. 

This Agreement constitutes the entire agreement between the Asset Representations Reviewer, the Issuer, Servicer, and the Sponsor. All prior
representations, statements, negotiations and undertakings with regard to the subject matter hereof are superseded hereby. 
 If any term or
provision of this Agreement or the application thereof to any person or circumstance shall, to any extent, be invalid or unenforceable, the remaining terms and provisions of this Agreement, or the application of such terms or provisions to persons
or circumstances other than those as to which it is held invalid or unenforceable, shall not be affected thereby, and each term and provision of this Agreement shall be valid and enforced to the fullest extent permitted by law. 

Section 9.04 Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL, SUBSTANTIVE LAWS OF
THE STATE OF NEW YORK WITHOUT REFERENCE TO THE RULES THEREOF RELATING TO CONFLICTS OF LAW, OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW,
AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
 Section 9.05
Headings. The article and section headings hereof have been inserted for convenience only and shall not be construed to affect the meaning, construction or effect of this Agreement. 

Section 9.06 Counterparts and Electronic Signature. This Agreement shall be valid, binding, and enforceable against a party only
when executed by an authorized individual on behalf of the party by means of (i) an electronic signature that complies with the federal Electronic Signatures in Global and National Commerce Act, state enactments of the Uniform Electronic
Transactions Act, and/or any other relevant electronic signatures law, in each case to 

  

					
		 	18	  	Asset Representations Review Agreement (SDART 20[ ]-[ ])

 
the extent applicable; (ii) an original manual signature; or (iii) a faxed, scanned, or photocopied manual signature. Each electronic signature or faxed, scanned, or photocopied manual
signature shall for all purposes have the same validity, legal effect, and admissibility in evidence as an original manual signature. Each party hereto shall be entitled to conclusively rely upon, and shall have no liability with respect to, any
electronic signature or faxed, scanned, or photocopied manual signature of any other party and shall have no duty to investigate, confirm or otherwise verify the validity or authenticity thereof. This Agreement may be executed in any number of
counterparts, each of which shall be deemed to be an original, but such counterparts shall, together, constitute only one instrument. Notwithstanding the foregoing, with respect to any notice provided for in this Agreement or any instrument
required or permitted to be delivered hereunder, any party hereto receiving or relying upon such notice or instrument shall be entitled to request execution thereof by original manual signature as a condition to the effectiveness thereof. 

Section 9.07 Waivers. No failure or delay on the part of the Sponsor, the Servicer, the Asset Representations Reviewer, the Issuer
or the Indenture Trustee in exercising any power or right hereunder (to the extent such Person has any power or right hereunder) shall operate as a waiver thereof, nor shall any single or partial exercise of any such power or right preclude any
other or further exercise thereof or the exercise of any other power or right. No notice to or demand on the any party hereto in any case shall entitle it to any notice or demand in similar or other circumstances. No waiver or approval by either
party under this Agreement shall, except as may otherwise be stated in such waiver or approval, be applicable to subsequent transactions. No waiver or approval under this Agreement shall require any similar or dissimilar waiver or approval
thereafter to be granted hereunder. 
 Section 9.08 Entire Agreement. This Agreement contains a final and complete integration
of all prior expressions by the parties hereto with respect to the subject matter thereof and shall constitute the entire agreement among the parties hereto with respect to the subject matter thereof, superseding all prior oral or written
understandings. There are no unwritten agreements among the parties. 
 Section 9.09 Severability of Provisions. If any one or
more of the covenants, agreements, provisions or terms of this Agreement shall be for any reason whatsoever held invalid, then such covenants, agreements, provisions or terms shall be deemed severable from the remaining covenants, agreements,
provisions or terms of this Agreement and shall in no way affect the validity or enforceability of the other provisions of this Agreement. 

Section 9.10 Binding Effect. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and permitted assigns. This Agreement shall create and constitute the continuing obligations of the parties hereto in accordance with its terms, and shall remain in full force and effect until such time as the parties hereto
shall agree. 
 Section 9.11 Cumulative Remedies. The remedies herein provided are cumulative and not exclusive of any remedies
provided by law. 

  

					
		 	19	  	Asset Representations Review Agreement (SDART 20[ ]-[ ])

 Section 9.12 Nonpetition Covenant. Each party hereto agrees that, prior to the
date which is one year and one day after payment in full of all obligations of each Bankruptcy Remote Party in respect of all securities issued by any Bankruptcy Remote Party (i) such party hereto shall not authorize any Bankruptcy Remote Party
to commence a voluntary winding-up or other voluntary case or other Proceeding seeking liquidation, reorganization or other relief with respect to such Bankruptcy Remote Party or its debts under any
bankruptcy, insolvency or other similar law now or hereafter in effect in any jurisdiction or seeking the appointment of an administrator, a trustee, receiver, liquidator, custodian or other similar official with respect to such Bankruptcy Remote
Party or any substantial part of its property or to consent to any such relief or to the appointment of or taking possession by any such official in an involuntary case or other Proceeding commenced against such Bankruptcy Remote Party, or to make a
general assignment for the benefit of its creditors generally, any party hereto or any other creditor of such Bankruptcy Remote Party, and (ii) such party shall not commence, join with any other Person in commencing or institute with any other
Person, any Proceeding against such Bankruptcy Remote Party under any bankruptcy, reorganization, liquidation or insolvency law or statute now or hereafter in effect in any jurisdiction. This Section shall survive the termination of this Agreement.

 Section 9.13 Submission to Jurisdiction; Waiver of Jury Trial. Each of the parties hereto hereby irrevocably and
unconditionally: 
 (a) submits for itself and its property in any Proceeding relating to this Agreement or any documents executed and
delivered in connection herewith, or for recognition and enforcement of any judgment in respect thereof, to the nonexclusive general jurisdiction of the courts of the State of New York, the courts of the United States of America for the Southern
District of New York and appellate courts from any thereof; 
 (b) consents that any such Proceeding may be brought and maintained in such
courts and waives any objection that it may now or hereafter have to the venue of such Proceeding in any such court or that such Proceeding was brought in an inconvenient court and agrees not to plead or claim the same; 

(c) agrees that service of process in any such Proceeding may be effected by mailing a copy thereof by registered or certified mail (or any
substantially similar form of mail), postage prepaid, to such Person at its address determined in accordance with Section 9.02 of this Agreement; 

(d) agrees that nothing herein shall affect the right to effect service of process in any other manner permitted by law or shall limit the
right to sue in any other jurisdiction; and 
 (e) to the extent permitted by applicable law, each party hereto irrevocably waives all
right of trial by jury in any Proceeding or counterclaim based on, or arising out of, under or in connection with this Agreement, any other Transaction Document, or any matter arising hereunder or thereunder. 

Section 9.14 Third-Party Beneficiaries. This Agreement shall inure to the benefit of and be binding upon the parties hereto and
their respective successors and permitted assigns and 

  

					
		 	20	  	Asset Representations Review Agreement (SDART 20[ ]-[ ])

 
each of the Owner Trustee and the Indenture Trustee shall be an express third-party beneficiary hereof and may enforce the provisions hereof as if it were a party hereto. Except as otherwise
provided in this Section, no other Person will have any right hereunder. 
 [SIGNATURES ON NEXT PAGE] 

  

					
		 	21	  	Asset Representations Review Agreement (SDART 20[ ]-[ ])

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

			
	SANTANDER CONSUMER USA INC.
		
	By:	 	  

		 	Name:
		 	Title:
	
	[                ]
		
	By:	 	[        ],
		 	not in its individual capacity but solely as Owner Trustee
		
	By:	 	  

		 	Name:
		 	Title:
	
	[                ],
	as Asset Representations Reviewer
		
	By:	 	  

		 	Name:
		 	Title:

  

					
		 	S-1	  	Asset Representations Review Agreement (SDART 20[ ]-[ ])

 EXHIBIT A 

[To be attached]Exhibit
10.1

 

UNIT
PURCHASE AGREEMENT

 

This
Unit Purchase Agreement (as amended, supplemented, restated and/or modified from time to time, this “Agreement”) is
entered into as of December , 2021, by and among Marizyme, Inc., a Nevada corporation (the “Company”), and each investor
identified on Appendix A hereto (each, including its successors and assigns, an “Investor” and collectively,
the “Investors”).

 

BACKGROUND

 

WHEREAS,
pursuant to the authorization of the Company’s Board of Directors, the Company is offering (the “Offering”)
up to 9,714,286 units (the “Units”) comprised of, (i) a 10% secured convertible promissory note (the “Note”)
convertible into the Common Stock of the Company (par value $0.001) at an initial price per share of $1.75 and (ii) a warrant to purchase
two shares of Common Stock, $0.001 par value per share at an initial price per share of $2.25 (the “Class C Warrant”
and, together with the Note and the Investor Shares (as herein defined) collectively referred to as the “Securities”),
at a price per Unit of $1.75 (the “Price Per Unit”);

 

WHEREAS,
the Units are being offered on a “reasonable best efforts” basis with respect to a maximum of $17,000,000 (the “Maximum
Offering Amount”) and without any minimum, to a limited number of “accredited investors” (as that term is defined
by Rule 501(a) of Regulation D (“Regulation D”) promulgated by the Securities and Exchange Commission under the Securities
Act of 1933, as amended (the “Securities Act”);

 

WHEREAS,
the Company and each Investor is executing and delivering this Agreement in reliance upon the exemption from securities registration
afforded by Section 4(a)(2) of the Securities Act and/or Rule 506 of Regulation D promulgated by the SEC under the Securities Act;

 

WHEREAS,
the Company has retained Univest Securities, LLC to act as its exclusive placement agent in connection with the sale of the Units pursuant
to this Agreement (the “Placement Agent”);

 

WHEREAS,
the minimum investment amount that may be purchased by an Investor is 10,000 Units for an aggregate minimum purchase price of $17,500,
unless the Company and the Placement Agent waive such requirement in their sole discretion; and

 

WHEREAS,
the Company desires to issue and sell the Units to the Investors at one or more Closing (as defined below) as set forth herein.

 

NOW
THEREFORE, in consideration of the foregoing recitals and the covenants and agreements set forth herein, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and each Investor hereby agree as follows:

 

1.
DEFINITIONS.
As used in this Agreement, the following terms shall have the following meanings specified or indicated below, and such meanings shall
be equally applicable to the singular and plural forms of such defined terms:

 

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

 

    	 

     

    

 

“Acquisition”
means the acquisition by the Company or any direct or indirect Subsidiary of the Company of a majority of the Equity Interests or substantially
all of the assets and business of any Person, whether by direct purchase of Equity Interests, asset purchase, merger, consolidation or
like combination.

 

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

 

“Agreement”
has the meaning set forth in the preamble.

 

“Blank
Check Preferred Stock” has the meaning set forth in Section 3.4(a).

 

“Board
of Directors” has the meaning set forth in the Background section.

 

“Business
Day” means any day other than a Saturday, Sunday or any other day on which the Federal Reserve Bank of New York is closed in
New York City.

 

“Capital
Stock” means the Common Stock and any other classes of capital stock of the Company.

 

“Change
of Control” means, with respect to the Company:

 

	 	(a)	a change in the composition of the Board of Directors of the
Company at a single shareholder meeting where a majority of the individuals that were directors of the Company immediately prior to the
start of such shareholder meeting are no longer directors at the conclusion of such meeting;

 

	 	(b)	a change in composition of the Board of Directors of the Company
prior to the termination of this Agreement where a majority of the individuals that were directors as of the date of this Agreement cease
to be directors of the Company prior to the termination of this Agreement;

 

	 	(c)	unless their replacements shall be approved by an Investor
in an Investor’s sole discretion, any two of the individuals who are the Chief Executive Officer, President or Chairman of the
Board of Directors as of the date of this Agreement cease to hold such position at any time prior to the termination of this Agreement;

 

	 	(d)	other than a shareholder that holds such a position at the
date of this Agreement, if a Person comes to have beneficial ownership, control or direction over more than forty percent (40%) of the
voting rights attached to any class of voting securities of the Company; or

 

	 	(e)	the sale or other disposition by the Company or any of its
Subsidiaries in a single transaction, or in a series of transactions, of all or substantially all of their respective assets.

 

    	2

    	 

    

 

“Class
C Warrant” has the meaning set forth in the Background section.

 

“Closing”
has the meaning set forth in Section 2.1.

 

“Closing
Date” has the meaning set forth in Section 2.2.

 

“Code”
has the meaning set forth in Section 2.1.

 

“Common
Stock” means the common stock of the Company, par value $0.001 per share.

 

“Company”
has the meaning set forth in the preamble.

 

“Company
Patent Security Agreement” means a patent security agreement, substantially in the form attached hereto as Exhibit C.

 

“Company
Trademark Security Agreement” means a trademark security agreement, substantially in the form attached hereto as Exhibit
D.

 

“Conversion
Shares” means the shares of Common Stock issuable upon the full or any partial conversion of the Note.

 

“Equity
Interests” means and includes capital stock, membership interests and other similar equity securities, and shall also include
warrants or options to purchase capital stock, membership interests or other equity interests.

 

“Event”
means any event, change, development, effect, condition, circumstance, matter, occurrence or state of facts.

 

“Event
of Default” has the meaning set forth in Section 7.1.

 

“Exchange
Agreement” means an exchange agreement, substantially in the form attached hereto as Exhibit L

 

“Exempted
Securities” means (a) shares of Common Stock or rights, warrants or options to purchase Common Stock issued in connection with
any Acquisition, (b) equity securities issued by reason of a dividend, stock split, split-up or other distribution on shares of Common
Stock, (c) shares of Common Stock or rights, warrants or options to purchase Common Stock issued to employees or directors of, or consultants
or advisors to, the Company or any of its Subsidiaries pursuant to a plan, agreement or arrangement approved by the Board of Directors
(“Equity Plans”), or (d) shares of Common Stock actually issued upon the exercise of options or shares of Common Stock
actually issued upon the conversion or exchange of any securities convertible into Common Stock, in each case provided that such issuance
is pursuant to the terms of the applicable option or convertible security.

 

“HSR
Act” has the meaning set forth in Section 5.16.

 

“Investor”
and “Investors” have their respective meanings set forth in the preamble.

 

    	3

    	 

    

 

“Investor
Group” shall mean an Investor plus any other Person with which an Investor is considered to be part of a group under Section
13 of the 1934 Act or with which an Investor otherwise files reports under Sections 13 and/or 16 of the 1934 Act.

 

“Investor
Party” has the meaning set forth in Section 5.12(a).

 

“Investor
Shares” means the Conversion Shares, the Warrant Shares and any other shares issued or issuable to an Investor pursuant to
this Agreement or any of the Securities.

 

“IP
Rights” has the meaning set forth in Section 3.10.

 

“Law”
means any law, rule, regulation, order, judgment or decree, including, without limitation, any federal and state securities Laws.

 

“Lead
Investor” means Viner Total Investments Fund and its successors and assigns.

 

“Losses”
has the meaning set forth in Section 5.12(a).

 

“Majority
in Interest of the Investors” means those Investors holding fifty-one percent (51%) of the aggregate subscription amounts of
the Units at the time the approval or consent of the Investors is being sought.

 

“Material
Adverse Effect” means any material adverse effect on (i) the businesses, properties, assets, prospects, operations, results
of operations or financial condition of the Company, or the Company and the Subsidiaries, taken as a whole, or (ii) the ability of the
Company to consummate the transactions contemplated by this Agreement or to perform its obligations hereunder or under the Securities;
in this regard, any the following shall be deemed either alone or in combination to constitute, and any of the following shall be taken
into account in determining whether there has been or would be, a Material Adverse Effect: (a) any adverse effect resulting from or arising
out of general economic conditions; (b) any adverse effect resulting from or arising out of general conditions in the industries in which
the Company and the Subsidiaries operate; (c) any adverse effect resulting from any changes to applicable Law; or (d) any adverse effect
resulting from or arising out of any pandemic or similar emergency, transportation disruption, strike or labor disruption, natural disaster
or any acts of terrorism, sabotage, military action or war or any escalation or worsening thereof.

 

“Maximum
Percentage” means 4.99%; provided, that if at any time after the date hereof an Investor Group beneficially owns in
excess of 4.99% of any class of Equity Interests in the Company that is registered under the 1934 Act (excluding any Equity Interests
deemed beneficially owned by virtue of the Units), then the Maximum Percentage shall automatically increase to 9.99% so long as an Investor
Group owns in excess of 4.99% of such class of Equity Interests (and shall, for the avoidance of doubt, automatically decrease to 4.99%
upon an Investor Group ceasing to own in excess of 4.99% of such class of Equity Interests).

 

“Money
Laundering Laws” has the meaning set forth in Section 3.25.

 

“New
Securities” means, collectively, equity securities of the Company, whether or not currently authorized, as well as rights,
options, or warrants to purchase such equity securities, or securities of any type whatsoever that are, or may become, convertible or
exchangeable into or exercisable for such equity securities.

 

    	4

    	 

    

 

“Note”
or “Notes” means a Note substantially in the form attached hereto as Exhibit H.

 

“OFAC”
has the meaning set forth in Section 3.23.

 

“Offer
Notice” has the meaning set forth in Section 10.1.

 

“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.

 

“Pledge
Agreement” means a pledge agreement, substantially in the form attached hereto as Exhibit B.

 

“Prepayment
Right” shall have the meaning set forth in Section 2.4.

 

“Proceedings”
has the meaning set forth in Section 3.6.

 

“Prohibited
Transaction” means a transaction with a third party or third parties in which the Company issues or sells (or arranges or agrees
to issue or sell):

 

(a)
any debt, equity or equity-linked securities (including options or warrants) that are convertible into, exchangeable or exercisable for,
or include the right to receive shares of the Company’s Capital Stock:

 

(i)
at a conversion, repayment, exercise or exchange rate or other price that is based on, and/or varies with, a discount to the future trading
prices of, or quotations for, shares of Common Stock; or

 

(ii)
at a conversion, repayment, exercise or exchange rate or other price that is subject to being reset at some future date after
the initial issuance of such debt, equity or equity-linked security or upon the occurrence of specified or contingent events (other than
warrants that may be repriced by the Company); or

 

(b)
any securities in a capital or debt raising transaction or series of related transactions which grant to an investor the right to receive
additional securities based upon future transactions of the Company on terms more favorable than those granted to such investor in such
first transaction or series of related transactions;

 

and
are deemed to include transactions generally referred to as at-the-market transactions (ATMs) or equity lines of credit and stand-by
equity distribution agreements, and convertible securities and loans having a similar effect. Notwithstanding the foregoing, and for
the avoidance of doubt, rights issuances, shareholder purchase plans, Equity Plans, convertible securities, or issuances of Equity Interests,
based on the trading price of the Common Stock on the Trading Market but each at a fixed price per share, shall not be deemed to be a
Prohibited Transaction.

 

    	5

    	 

    

 

“Prospectus”
means the prospectus included in any Registration Statement, as amended or supplemented by any prospectus supplement, with respect to
the terms of the offering of any portion of an Investor Shares covered by such Registration Statement and by all other amendments and
supplements to the prospectus, including post-effective amendments and all material incorporated by reference in such prospectus, and
any “free writing prospectus” as defined in Rule 405 under the Securities Act.

 

“register,”
“registered” and “registration” refer to a registration made pursuant to the Registration Rights
Agreement by preparing and filing a Registration Statement or similar document in compliance with the Securities Act (as defined below),
and the declaration or ordering of effectiveness of such Registration Statement or document.

 

“Registration
Rights Agreement” means a registration rights agreement substantially in the form attached hereto as Exhibit G.

 

“Registration
Statement” means any registration statement of the Company filed under the Securities Act that covers the resale of any Investor
Shares pursuant to the provisions of this Agreement, including the Prospectus and amendments and supplements to such Registration Statement,
and including post-effective amendments, all exhibits and all material incorporated by reference in such Registration Statement.

 

“Reverse
Split” has the meaning set forth in Section 5.21.

 

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

 

“SEC
Documents” has the meaning set forth in Section 3.5(a).

 

“Securities”
has the meaning set forth in the Background section.

 

“Securities
Act” has the meaning set forth in the Background section.

 

“Securities
Termination Event” means either of the following has occurred:

 

(a)
trading in securities generally in the United States has been suspended or limited for a consecutive period of greater than ten (10)
Trading Days; or

 

(b)
a banking moratorium has been declared by the United States or the New York State authorities and is continuing for a consecutive period
of greater than three (3) Business Days.

 

“Security
Agreement” means a security agreement, substantially in the form attached hereto as Exhibit A.

 

    	6

    	 

    

 

“Stockholder
Approval” shall mean the approval of such number of the holders of the outstanding shares of Company’s voting Common
Stock as required by the Company’s bylaws (the “Bylaws”) and the Nevada Revised Statutes: (a) if and to the
extent legally required, to amend the Company’s articles of incorporation, as amended (“Articles of Incorporation”),
to increase the number of authorized shares of Common Stock by at least the number of shares of Common Stock equal to the number of Shares
issuable hereunder, (b) to ratify and approve all of the transactions contemplated by the Transaction Documents, including the issuance
of all of Investor Shares (as such term is defined in each of such documents) issued and potentially issuable to an Investor thereunder,
all as may be required by the applicable rules and regulations of the Trading Market (or any successor entity).

 

“Subsidiaries”
and “Subsidiary” have the meaning set forth in Section 3.4(b).

 

“Subsidiary
Guaranty” means a guaranty in favor of the Investors, substantially in the form attached hereto as Exhibit E.

 

“Subsidiary
Security Agreement” means a security agreement with the Investors, substantially in the form attached hereto as Exhibit
F.

 

“Subscription
Amount” means, as to any Investor, the aggregate amount to be paid for the Units purchased hereunder as specified on Appendix
A.

 

“Trading
Day” means a day on which the Common Stock is traded on a Trading Market.

 

“Trading
Market” means whichever of the New York Stock Exchange, NYSE American, or the Nasdaq Stock Market (including the Nasdaq Capital
Market, the Nasdaq Global Market, the Nasdaq Global Select Market), the OTC Bulletin Board, the OTC QB Marketplace or the OTC QX Marketplace
(or any successors to any of the foregoing), on which the Common Stock is listed or quoted for trading on the date in question.

 

“Transaction
Documents” means this Agreement, the Notes, the Warrants, the Registration Rights Agreement, the Security Agreement, the Company
Patent Security Agreement, the Company Trademark Security Agreement, the Pledge Agreement, the Subsidiary Guaranty, the Subsidiary Security
Agreement, the Exchange Agreement, and any other documents or agreements executed or delivered in connection with the transactions contemplated
hereunder.

 

“Units”
has the meaning set forth in the Background section.

 

“Unitholder
Representative” means the representative selected by a Majority in Interest of the Investors to represent their interests upon
the occurrence and continuance of an Event of Default. To this end, the Representative shall thereafter be able to act on behalf of the
Investors and pursue remedies under any Transaction, amend or waive any provision under any of the Transaction Documents or otherwise
act on behalf of the Investors.

 

“Warrants”
means the Class C Warrants, substantially in the form attached hereto as Exhibit I.

 

“Warrant
Shares” means the shares of Common Stock issuable upon exercise of the Class C Warrant.

 

    	7

    	 

    

 

2.
PURCHASE AND SALE OF THE NOTE AND THE WARRANT.

 

2.1
Purchase and Sale of the Units.

 

(a)
Subject to the terms and conditions set forth herein, the Company agrees to sell up to $17,000,000 in Units, and, in connection therewith,
the Lead Investor agrees to subscribe for $10,000,000 in Units in three tranches. The initial closing of this Offering and each other
closing of this offering is referred to as a “Closing” and the applicable date associated with a Closing is referred
to as a “Closing Date”). Unless otherwise agreed, three Closings are contemplated: (i) at the Initial Closing, the
Lead Investor agrees to subscribe for $6,000,000 in Units; (ii) upon the Company duly filing of its Registration Statement on Form S-1,
the Lead Investor agrees to subscribe for $2,000,000 in Units; and (iii) upon the Company responding in a satisfactory manner to the
first round of SEC comments, the Lead Investor agrees to subscribe for $2,000,000 in Units. The Company and the Placement Agent will
mutually determine the timing of the initial Closing and each Closing thereafter. Each Closing hereunder, including payment for and delivery
of the Units, shall, unless otherwise agreed to by the Company and the Placement Agent, take place remotely via the exchange of documents
and signatures, subject to satisfaction or waiver of the conditions set forth in Section 6.

 

(b)
The Investors and the Company agree that for U.S. federal income tax purposes and applicable state, local and non-U.S. tax purposes,
the applicable subscription amount shall be allocable between the securities comprising the Units based on the relative fair market values
thereof. Neither any Investor nor the Company shall take any contrary position on any tax return, or in any audit, claim, investigation,
inquiry or proceeding in respect of taxes, unless otherwise required pursuant to a final determination within the meaning of Section
1313 of the Internal Revenue Code of 1986, as amended (the “Code”), or any analogous provision of applicable state,
local or non-U.S. law.

 

2.2
Closing. On the applicable Closing Date, upon the terms and subject to the conditions set forth herein, the Company agrees
to sell at the applicable Closing, and the indicated Investor(s), severally and not jointly, agree to purchase at the applicable Closing,
up to the specified number of Units, calculated based upon the Price Per Unit, for each Investor equal to such Investor’s Subscription
Amount for the applicable Closing as set forth on Appendix A hereto, and the principal amount of a Note and Investor Warrants,
which make up each Unit as set forth in Appendix A hereto. Each Investor purchasing Units on applicable Closing Date shall deliver
to the Company such Investor’s Subscription Amount by wire transfer of immediately available funds in accordance with the Company’s
written wire instructions, and the Company shall deliver to each Investor its respective Units, and the Company and each Investor shall
deliver the other items set forth in Section 2.3 deliverable at the Closing. Upon satisfaction of the covenants and conditions set forth
in Section 6, the applicable Closing shall occur remotely by exchange of documents or in such other manner and/or at such location
as the Company and the Placement Agent shall mutually agree.

 

    	8

    	 

    

 

2.3
Deliverables.

 

(a)
On or prior to the Initial Closing Date (except as noted and unless previously delivered prior thereto), the Company shall deliver or
cause to be delivered to each Investor the following:

 

(i)
this Agreement duly executed by the Company;

 

(ii)
the specified Notes, duly executed by the Company, having the respective principal amounts set forth on Appendix A, registered
in the name of the specified Investor;

 

(iii)
the specified Class C Warrants duly executed by the Company, in the amounts of Warrants set forth on Appendix A, registered in
the name of the specified Investor;

 

(iv)
the Pledge Agreement executed by the Company and the applicable Subsidiary;

 

(v)
the Security Agreement duly executed by the Company;

 

(vi)
the Company Patent Security Agreement, duly executed by the Company;

 

(vii)
Company Trademark Security Agreement, duly executed by the Company;

 

(viii)
the Subsidiary Guaranty Agreement duly executed by the Subsidiaries;

 

(ix)
the Subsidiary Security Agreement duly executed by the Subsidiaries;

 

(x)
the Registration Rights Agreement duly executed by the Company;

 

(xi)
a Transfer Agent Instruction Letter duly executed by the Company and the Transfer Agent;

 

(xii)
the Exchange Agreement duly executed by the Company;

 

(xiii)
an opinion from the Company’s counsel in a form reasonably acceptable to the Placement Agent’s counsel;

 

(xiv)
an officer’s certificate and compliance certificate, each in a form reasonably acceptable to the Placement Agent’s counsel;
and

 

(xv)
such other opinions, certificates, including a Secretary’s Certificate, statements, including, without limitation, a closing statement,
and agreements as the Placement Agent’s counsel may reasonably require.

 

(b)
On or prior to the Initial Closing Date, each Investor signatory to the specified agreement shall deliver or cause to be delivered to
the Company, as applicable, the following:

 

(xvi)
this Agreement duly executed by such Investor;

 

    	9

    	 

    

 

(xvii)
the applicable Investor’s Subscription Amount for its Units;

 

(xviii)
the Security Agreement duly executed by such Investor;

 

(xix)
the Company Patent Security Agreement, duly executed by such Investor;

 

(xx)
Company Trademark Security Agreement, duly executed by such Investor;

 

(xxi)
the Subsidiary Guaranty Agreement, if and as applicable, duly executed by such Investor;

 

(xxii)
the Subsidiary Security Agreement duly executed by such Investor;

 

(xxiii)
the Registration Rights Agreement duly executed by such Investor;

 

(xxiv)
a Transfer Agent Instruction Letter duly executed by such Investor; and

 

(xxv)
the Exchange Agreement, as applicable, duly executed by such Investor.

 

(c)
On or prior to any subsequent Closing Date (except as noted), the Company shall deliver or cause to be delivered to the specified Investor
the following:

 

(i)
this Agreement duly executed by the Company;

 

(ii)
the specified Notes, duly executed by the Company, having the respective principal amounts set forth on Appendix A, registered
in the name of the specified Investor;

 

(iii)
the specified Class C Warrants, duly executed by the Company, in the amounts of Warrants set forth on Appendix A, registered in
the name of the specified Investor;

 

(iv)
the Pledge Agreement executed by the Company and the applicable Subsidiary;

 

(v)
the Security Agreement duly executed by the Company;

 

(vi)
the Company Patent Security Agreement, duly executed by the Company;

 

(vii)
Company Trademark Security Agreement, duly executed by the Company;

 

(viii)
the Subsidiary Guaranty Agreement duly executed by the Subsidiaries;

 

(ix)
the Subsidiary Security Agreement duly executed by the Subsidiaries;

 

(x)
the Registration Rights Agreement duly executed by the Company;

 

    	10

    	 

    

 

(xi)
a Transfer Agent Instruction Letter duly executed by the Company and the Transfer Agent;

 

(xii)
the Exchange Agreement duly executed by the Company;

 

(xiii)
an opinion from the Company’s counsel in a form reasonably acceptable to the Placement Agent’s counsel; and

 

(xiv)
an officer’s certificate and compliance certificate, each in a form reasonably acceptable to the Placement Agent’s counsel;
and

 

(xv)
such other opinions, certificates, including a Secretary’s Certificate, statements, including, without limitation, a closing statement,
and agreements as the Placement Agent’s counsel may reasonably require.

 

(d)
On or prior to any subsequent Closing Date, each Investor signatory to the specified agreement shall deliver or cause to be delivered
to the Company, as applicable, the following:

 

(i)
this Agreement duly executed by such Investor;

 

(ii)
the applicable Investor’s Subscription Amount for its Units;

 

(iii)
the Security Agreement duly executed by such Investor;

 

(iv)
the Company Patent Security Agreement, duly executed by such Investor;

 

(v)
Company Trademark Security Agreement, duly executed by such Investor;

 

(vi)
the Subsidiary Guaranty Agreement, if and as applicable, duly executed by such Investor;

 

(vii)
the Subsidiary Security Agreement duly executed by such Investor;

 

(viii)
the Registration Rights Agreement duly executed by such Investor; and

 

(ix)
a Transfer Agent Instruction Letter duly executed by such Investor; and

 

(x)
the Exchange Agreement, as applicable, duly executed by such Investor.

 

2.4
Prepayment Right. As set forth in the Note, the Company will not have the right to pre-pay the entire then-outstanding principal
amount of the Notes without the written consent of a Majority in Interest of the Investors.

 

2.5
Senior Obligation. As an inducement for the Investors to enter into this Agreement and to purchase the Units, all obligations
of the Company pursuant to this Agreement and the Securities shall be secured by a first priority security interest in and lien upon
all assets of the Company and the Subsidiaries.

 

    	11

    	 

    

 

3.
REPRESENTATIONS AND WARRANTIES OF THE COMPANY.
The Company represents and warrants to each Investor and covenants with each Investor that, except as is set forth in the Disclosure
Letter being delivered to the Investors as of the date hereof and as of each Closing Date, the following representations and warranties
are true and correct:

 

3.1
Organization and Qualification. The Company is a corporation duly organized and validly existing in good standing under the
Laws of the State of Nevada and has the requisite corporate power and authority to own its properties and to carry on its business as
now being conducted. Each Subsidiary is duly formed and validly existing in good standing under the Laws of the state of its organization
and has the requisite corporate or limited liability company power and authority, as applicable, to own its properties and to carry on
its business as now being conducted. Each of the Company and the Subsidiaries is duly qualified to do business and is in good standing
in every jurisdiction in which the ownership of its property or the nature of the business conducted by it makes such qualification necessary,
except to the extent that the failure to be so qualified or be in good standing would not have a Material Adverse Effect.

 

3.2
Authorization; Enforcement; Compliance with Other Instruments. Each of the Company and the Subsidiaries has the requisite
corporate or limited liability company power, as applicable, and authority to execute the Transaction Documents to which it is a party,
in the case of the Company, to issue and sell the Units pursuant hereto, and, in both cases, to perform its obligations under the Transaction
Documents to which it is a party, including, in the case of the Company, issuing the Investor Shares on the terms set forth in this Agreement.
The execution and delivery of the Transaction Documents to which it is a party by the Company and each Subsidiary and the issuance and
sale by the Company of the Securities pursuant hereto, including without limitation, the reservation of the Conversion Shares and the
Warrant Shares for future insuance, have been duly and validly authorized by the Company’s Board of Directors for itself and in
its capacity as the member manager or director of each Subsidiary and except as set forth on Schedule 3.2, no further consent
or authorization is required by the Company, its Board of Directors, its stockholders, any Subsidiary or any other Person in connection
therewith. The Transaction Documents have been duly and validly executed and delivered by the Company and each Subsidiary and constitute
valid and binding obligations of each of the Company and the Subsidiaries, enforceable against the Company and each Subsidiary in accordance
with their respective terms, except as such enforceability may be limited by general principles of equity or applicable bankruptcy, insolvency,
reorganization, moratorium, liquidation or similar Laws relating to, or affecting generally, the enforcement of creditors’ rights
and remedies.

 

3.3
No Conflicts. The execution, delivery and performance of the Transaction Documents by the Company and each Subsidiary and
the issuance and sale of the Units by the Company hereunder will not (a) conflict with or result in a violation of the Articles of Incorporation
or Bylaws or any Subsidiary’s certificate of formation or organizational documents, (b) conflict with, or constitute a material
default (or an event which, with notice or lapse of time or both, would become a material default) under, or give to others any right
of termination, amendment, acceleration or cancellation of, any material agreement to which the Company or any of the Subsidiaries is
a party or (c) subject to the making of the filings referred to in Section 5, and, violate in any material respect any Law or
any rule or regulation of the Trading Market applicable to the Company or any of the Subsidiaries or by which any of their properties
or assets are bound or affected. Assuming the accuracy of each Investor’s representations in Section 4 and subject to the
making of the filings referred to in Section 5, (i) no approval or authorization will be required from any governmental authority
or agency, regulatory or self-regulatory agency or other third party (including the Trading Market) in connection with the issuance of
the Units and the other transactions contemplated by this Agreement (including the issuance of the Conversion Shares upon conversion
of the Notes and the Warrant Shares upon exercise of the Warrants) and (ii) the issuance of the Notes and the Warrants, and the issuance
of the Conversion Shares upon the conversion of the Notes and the Warrant Shares upon exercise of the Warrants will be exempt from the
registration and qualification requirements under the Securities Act and all applicable state securities Laws.

 

    	12

    	 

    

 

3.4
Capitalization and Subsidiaries.

 

(a)
The authorized Capital Stock of the Company consists of: (i) 75,000,000 shares of Common Stock and (ii) 25,000,000 shares of blank check
preferred to be designated by the Board of Directors (the “Blank Check Preferred Stock”). As of the close of business
on August 16, 2021: (A) 36,143,188 shares of Common Stock were issued and outstanding and (B) no shares of Blank Check Preferred Stock
were issued and outstanding; and since August 16, 2021, and through the date of this Agreement, the Company has issued 0 additional shares
of Common Stock, cancelled 0 shares of Common Stock and issued no additional shares of Preferred Stock. As of June 30, 2021, (x) 4,120,943
shares of Common Stock are issuable upon exercise of options granted under the Company’s 2021 Stock Incentive Plan and 512,500
additional shares are reserved for future issuance under such plan; (y) 3,393,651 shares of Common Stock issuable upon exercise of outstanding
warrants, with exercise prices ranging from $1.375 to $5.00 per share, not including Class A Warrants for 440,000 shares of common stock
and Class B Warrants for 440,000 shares of common stock. The Company shall duly reserve up to 9,714,286 shares of Common Stock for issuance
upon conversion of the Notes and shall duly reserve 19,428,572 shares of Common Stock for issuance upon exercise of the Warrants. The
Conversion Shares, when issued upon conversion of the Notes in accordance with their terms, and the Warrant Shares, if and when issued
upon exercise of the Warrants in accordance with their terms, will be validly issued, fully paid and non-assessable and free from all
taxes, liens and charges with respect to the issuance thereof. Other than as set forth on Schedule 3.4(d), no shares of the Company’s
Capital Stock are subject to preemptive rights or any other similar rights or any liens or encumbrances suffered or permitted by the
Company. The Articles of Incorporation and Bylaws on file on the SEC’s EDGAR website are true and correct copies of the Articles
of Incorporation and Bylaws as in effect as of the date hereof. The Company is not in violation of any provision of its Articles of Incorporation
or Bylaws.

 

(b)
Schedule 3.4(b) lists each direct and indirect subsidiary of the Company (each, a “Subsidiary” and collectively,
the “Subsidiaries”) and indicates for each Subsidiary (i) the authorized capital stock or other Equity Interest of
such Subsidiary as of the date hereof, (ii) the number and kind of shares or other ownership interests of such Subsidiary that are issued
and outstanding as of the date hereof, and (iii) the owner of such shares or other ownership interests. No Subsidiary has any outstanding
stock options, warrants or other instruments pursuant to which such Subsidiary may at any time or under any circumstances be obligated
to issue any shares of its capital stock or other Equity Interests. Each Subsidiary is duly organized and validly existing in good standing
under the laws of its jurisdiction of organization and has all requisite power and authority to own its properties and to carry on its
business as now being conducted.

 

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(c)
Other than as set forth on Schedule 3.4(c), neither the Company nor any Subsidiary is bound by any agreement or arrangement pursuant
to which it is obligated to register the sale of any securities under the Securities Act. Other than with respect to the Series A Preferred
Stock, there are no outstanding securities of the Company or any of the Subsidiaries which 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 or purchase any security of the Company or any Subsidiary. Other than as set forth on Schedule 3.4(d), there are no
outstanding securities or instruments containing anti-dilution or similar provisions that will be triggered by the issuance of the Note,
the Warrant or the Investor Shares. Neither the Company nor any Subsidiary has any stock appreciation rights or “phantom stock”
plans or agreements or any similar plan or agreement.

 

(d)
Other than as set forth on Schedule 3.4(d), the issuance and sale of any of the Securities will not obligate the Company to issue
shares of Common Stock or other securities to any other Person and will not result in the adjustment of the exercise, conversion, exchange,
or reset price of any outstanding securities.

 

(e)
As of the date of this Agreement, the Company has capacity under the rules and regulations of the Trading Market to issue up to 38,856,812
shares of Common Stock (or securities convertible into or exercisable for Common Stock) without obtaining Stockholder Approval.

 

3.5
SEC Documents; Financial Statements.

 

(a)
As of the date hereof, the Company has filed all reports, schedules, forms, statements and other documents required to be filed by it
with the SEC pursuant to the reporting requirements of the 1934 Act (all of the foregoing filed prior to the date hereof and all exhibits
included therein and financial statements and schedules thereto and documents incorporated by reference therein being hereinafter referred
to as the “SEC Documents”). As of their respective filing dates, the SEC Documents complied in all material respects
with the requirements of the 1934 Act and the rules and regulations of the SEC promulgated thereunder applicable to the SEC Documents,
and none of the SEC Documents, at the time they were filed with the SEC, contained any untrue statement of a material fact or omitted
to state a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under
which they were made, not misleading.

 

(b)
As of their respective dates, the financial statements of the Company included in the SEC Documents complied as to form in all material
respects with applicable accounting requirements and the published rules and regulations of the SEC with respect thereto. Such financial
statements have been prepared in accordance with generally accepted accounting principles, and audited by a firm that is a member a member
of the Public Companies Accounting Oversight Board consistently applied, during the periods involved (except as may be otherwise indicated
in such financial statements or the notes thereto, or, in the case of unaudited interim statements, to the extent they may exclude footnotes
or may be condensed or summary statements) and fairly present in all material respects the consolidated financial position of the Company
as of the dates thereof and the consolidated results of its operations and consolidated cash flows for the periods then ended (subject,
in the case of unaudited statements, to normal year-end audit adjustments). No other written information provided by or on behalf of
the Company to any Investor in connection with such Investor’s purchase of the Units which is not included in the SEC Documents
contains any untrue statement of a material fact or omits to state any material fact necessary to make the statements therein, in the
light of the circumstance under which they are or were made, not misleading.

 

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(c)
The Company and each of 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 generally accepted accounting principles and to maintain
asset accountability, (iii) reasonable controls to safeguard assets are in place 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.

 

3.6
Litigation and Regulatory Proceedings. Except as disclosed in SEC Documents, there are no material actions, causes of action,
suits, claims, proceedings, inquiries or investigations (collectively, “Proceedings”) before or by any court, public
board, government agency, self-regulatory organization or body pending or, to the knowledge of the executive officers of Company or any
of the Subsidiaries, threatened against or affecting the Company or any of the Subsidiaries, the Common Stock or any other class of issued
and outstanding shares of the Company’s Capital Stock, or any of the Company’s or the Subsidiaries’ officers or directors
in their capacities as such and, to the knowledge of the executive officers of the Company, there is no reason to believe that there
is any basis for any such Proceeding.

 

3.7
No Undisclosed Events, Liabilities or Developments. No event, development or circumstance has occurred or exists, or to the
knowledge of the executive officers of the Company is reasonably anticipated to occur or exist that (a) would reasonably be anticipated
to have a Material Adverse Effect or (b) would be required to be disclosed by the Company under applicable securities Laws on a registration
statement filed with the SEC relating to an issuance and sale by the Company of its Common Stock and which has not been publicly announced.

 

3.8
Compliance with Law. The Company and each of the Subsidiaries have conducted and are conducting their respective businesses
in compliance in all material respects with all applicable Laws and are in compliance in all material respects with the rules and regulations
of the Trading Market. The Company is not aware of any facts which could reasonably be anticipated to lead to a delisting of the Common
Stock by the Trading Market in the future.

 

3.9
Employee Relations. Neither the Company nor any Subsidiary is involved in any union labor dispute nor, to the knowledge of
the Company, is any such dispute threatened. Neither the Company nor any Subsidiary is a party to any collective bargaining agreement.
No executive officer (as defined in Rule 501(f) of the Securities Act) has notified the Company that such officer intends to leave the
Company’s employ or otherwise terminate such officer’s employment with the Company.

 

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3.10
Intellectual Property Rights. The Company and each Subsidiary owns or possesses adequate rights or licenses to use all trademarks,
trade names, service marks, service mark registrations, service names, patents, patent rights, copyrights, inventions, licenses, approvals,
governmental authorizations, trade secrets and other intellectual property rights (collectively, “IP Rights”) necessary
to conduct their respective businesses as now conducted. None of the material IP Rights of the Company or any of the Subsidiaries are
expected to expire or terminate within three (3) years from the date of this Agreement. Neither the Company nor any Subsidiary is infringing,
misappropriating or otherwise violating any IP Rights of any other Person. No claim has been asserted, and no Proceeding is pending,
against the Company or any Subsidiary alleging that the Company or any Subsidiary is infringing, misappropriating or otherwise violating
the IP Rights of any other Person, and, to the Company’s knowledge, no such claim or Proceeding is threatened, and the Company
is not aware of any facts or circumstances which might give rise to any such claim or Proceeding. The Company and the Subsidiaries have
taken commercially reasonable security measures to protect the secrecy, confidentiality and value of all of their material IP Rights.

 

3.11
Environmental Laws. Except, in each case, as would not be reasonably anticipated to have a Material Adverse Effect, the Company
and the Subsidiaries (a) are in compliance with any and all applicable Laws relating to the protection of human health and safety, the
environment or hazardous or toxic substances or wastes, pollutants or contaminants, (b) have received and hold all permits, licenses
or other approvals required of them under all such Laws to conduct their respective businesses and (c) are in compliance with all terms
and conditions of any such permit, license or approval.

 

3.12
Title to Assets. The Company and the Subsidiaries have good and marketable title to all personal property owned by them which
is material to their respective businesses, in each case free and clear of all liens, encumbrances and defects except those set forth
on Schedule 3.12. Any real property and facilities held under lease by the Company or any Subsidiary are held under valid, subsisting
and enforceable leases with such exceptions as are not material and do not interfere with the use made and proposed to be made of such
property and buildings by the Company and the Subsidiaries.

 

3.13
Insurance. The Company and each of the Subsidiaries are insured by insurers of recognized financial responsibility against
such losses and risks and in such amounts as management of the Company reasonably believes to be prudent and customary in the businesses
in which the Company and the Subsidiaries are engaged. Neither the Company nor any of the Subsidiaries has been refused any insurance
coverage sought or applied for, and the Company has no reason to believe that it will not be able to renew all existing insurance coverage
as and when such coverage expires or to obtain similar coverage from similar insurers.

 

3.14
Regulatory Permits. The Company and the Subsidiaries have in full force and effect all certificates, approvals, authorizations
and permits from all regulatory authorities and agencies necessary to own, lease or operate their respective properties and assets and
conduct their respective businesses, and neither the Company nor any Subsidiary has received any notice of Proceedings relating to the
revocation or modification of any such certificate, approval, authorization or permit, except for such certificates, approvals, authorizations
or permits with respect to which the failure to hold would not reasonably be expected to have, individually or in the aggregate, a Material
Adverse Effect.

 

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3.15
No Materially Adverse Contracts, Etc. Neither the Company nor any of the Subsidiaries is (a) subject to any charter, corporate
or other legal restriction, or any judgment, decree or order which in the judgment of the Company’s officers has or is expected
in the future to have a Material Adverse Effect or (b) a party to any contract or agreement which in the judgment of the Company’s
management has or would reasonably be anticipated to have a Material Adverse Effect.

 

3.16
Taxes. The Company and the Subsidiaries each has made or filed, or caused to be made or filed, all United States federal,
and applicable state, local and non-U.S. tax returns, reports and declarations required by any jurisdiction to which it is subject and
has paid all taxes and other governmental assessments and charges that are material in amount, required to be paid by it, regardless
of whether such amounts are shown or determined to be due on such returns, reports and declarations, except those being contested in
good faith by appropriate proceedings and for which it has set aside on its books provision reasonably adequate for the payment of all
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, to the knowledge of the Company, there is no basis for any
such claim.

 

3.17
Solvency. After giving effect to the receipt by the Company of the proceeds from the transactions contemplated by this Agreement
(a) the Company’s fair saleable value of its 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; and (b) 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 debt 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.

 

3.18
Investment Company. The Company is not, and is not an Affiliate of, an “investment company” within the meaning
of the Investment Company Act of 1940, as amended.

 

3.19
Certain Transactions. Other than as disclosed in the most recently filed SEC Documents, there are no contracts, transactions,
arrangements or understandings between the Company or any of its Subsidiaries, on the one hand, and any director, officer or employee
thereof on the other hand, that would be required to be disclosed pursuant to Item 404 of Regulation S-K promulgated by the SEC in the
Company’s Form 10-K or proxy statement pertaining to an annual meeting of stockholders.

 

    	17

    	 

    

 

3.20
No General Solicitation. Neither the Company, nor any of its Affiliates, nor any person acting on its behalf, has engaged
in any form of general solicitation or general advertising (within the meaning of Regulation D) in connection with the offer or sale
of the Note pursuant to this Agreement.

 

3.21
Acknowledgment Regarding each Investor’s Purchase of the Units. The Company’s Board of Directors has approved
the execution of the Transaction Documents and the issuance and sale of the Units, based on its own independent evaluation and determination
that the terms of the Transaction Documents are reasonable and fair to the Company and in the best interests of the Company and its stockholders.
The Company is entering into this Agreement, the Security Agreement, the Company Patent Security Agreement, the Company Trademark Security
Agreement and the Pledge Agreement and is issuing and selling the Units voluntarily and without economic duress. The Company has had
independent legal counsel of its own choosing review the Transaction Documents and advise the Company with respect thereto. The Company
acknowledges and agrees that each Investor is acting solely in the capacity of an arm’s length purchaser with respect to the Units
and the transactions contemplated hereby and that neither such Investor nor any person affiliated with such Investor is acting as a financial
advisor to, or a fiduciary of, the Company (or in any similar capacity) with respect to execution of the Transaction Documents or the
issuance of the Units or any other transaction contemplated hereby.

 

3.22
No Brokers’, Finders’ or Other Advisory Fees or Commissions. Except as set forth in Schedule 3.22, no brokers,
finders or other similar advisory fees or commissions will be payable by the Company or any Subsidiary or by any of their respective
agents with respect to the issuance of the Note or any of the other transactions contemplated by this Agreement.

 

3.23
OFAC. None of the Company nor any of the Subsidiaries nor, to the best knowledge of the Company, any director, officer, agent,
employee, affiliate or person acting on behalf of the Company and/or any Subsidiary has been or is currently subject to any United States
sanctions administered by the Office of Foreign Assets Control of the United States Department of the Treasury (“OFAC”);
and the Company will not directly or indirectly use any proceeds received from the Investors, or lend, contribute or otherwise make available
such proceeds to its Subsidiaries or to any affiliated entity, joint venture partner or other person or entity, to finance any investments
in, or make any payments to, any country or person currently subject to any of the sanctions of the United States administered by OFAC.

 

3.24
No Foreign Corrupt Practices. None of the Company or any of the Subsidiaries has, directly or indirectly: (a) made or authorized
any contribution, payment or gift of funds or property to any official, employee or agent of any governmental authority of any jurisdiction
except as otherwise permitted under applicable Law; or (b) made any contribution to any candidate for public office, in either case,
where either the payment or the purpose of such contribution, payment or gift was, is, or would be prohibited under the Foreign Corrupt
Practices Act or the rules and regulations promulgated thereunder or under any other legislation of any relevant jurisdiction covering
a similar subject matter applicable to the Company or its Subsidiaries and their respective operations and the Company has instituted
and maintained policies and procedures designed to ensure, and which are reasonably expected to continue to ensure, continued compliance
with such legislation.

 

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3.25
Anti-Money Laundering. The operations of each of the Company and the Subsidiaries are and have been conducted at all times
in compliance with all applicable anti-money laundering laws, regulations, rules and guidelines in its jurisdiction of incorporation
and in each other jurisdiction in which such entity, as the case may be, conducts business (collectively, the “Money Laundering
Laws”) and no action, suit or proceeding by or before any court or governmental authority involving the Company or its Subsidiaries
with respect to any of the Money Laundering Laws is, to the best knowledge of the Company, pending, threatened or contemplated.

 

3.26
Disclosure. The Company confirms that neither it, nor to its knowledge, any other Person acting on its behalf has provided
any Investor or its agents or counsel with any information that the Company believes constitutes material, non-public information. The
Company understands and confirms that each Investor will rely on the foregoing representations and covenants in effecting transactions
in securities of the Company. All disclosures provided to any Investor regarding the Company, its business and the transactions contemplated
hereby, furnished by or on behalf of the Company (including the Company’s representations and warranties set forth in this Agreement)
are true and correct in all material respects and do 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 light of the circumstances under which they were made, not misleading.

 

3.27
FDA. As to each product subject to the jurisdiction of the U.S. Food and Drug Administration (“FDA”) under
the Federal Food, Drug, and Cosmetic Act, as amended, and the regulations thereunder (“FDCA”) that is manufactured,
packaged, labeled, stored, tested, distributed, sold, and/or marketed by the Company (each such product, a “Pharmaceutical Product”),
such Pharmaceutical Product is being manufactured, packaged, labeled, stored, tested, distributed, sold and/or marketed by the Company
in compliance with all applicable requirements under FDCA and similar laws, rules and regulations relating to registration, investigational
use, premarket application approval, good manufacturing practices, good laboratory practices, good clinical practices (GCPs), product
listing, quotas, labeling, advertising, record keeping and filing of reports, except where the failure to be in compliance would not
have or reasonably be expected to result in a Material Adverse Effect. All clinical trials conducted by or on behalf of the Company have
been, and are being, conducted in compliance in all material respects with the applicable requirements of GCPs, informed consent and
all other applicable requirements relating to protection of human subjects specifically contained in 21 CFR Parts 312, 50, 54, 56 and
11. The Company has filed with the FDA or other appropriate governmental entity all required notices, and annual or other reports, including
notices of adverse experiences and reports of serious and unexpected adverse experiences, related to the use of Pharmaceutical Product
in clinical trials. The Company has not received any notice that any Institutional Review Board or Ethics Committee has initiated or
threatened to initiate any action to suspend any clinical trial or otherwise restrict any clinical trial of any Pharmaceutical Product.
There is no pending, completed or, to the Company’s knowledge, threatened, action (including any lawsuit, arbitration, or legal
or administrative or regulatory proceeding, charge, complaint, or investigation) against the Company, and the Company has not received
any notice, warning letter or other communication from the FDA or any other governmental entity, which (i) contests the registration,
approval, uses, distribution, manufacturing or packaging, testing, sale, or the labeling and promotion of any Pharmaceutical Product,
(ii) withdraws its approval of, requests the recall, suspension, or seizure of, or withdraws or orders the withdrawal of advertising
or sales promotional materials relating to, any Pharmaceutical Product, (iii) imposes a clinical hold on any clinical investigation by
the Company, (iv) enjoins production at any facility of the Company or any third party facility where the Pharmaceutical Product is manufactured,
(v) enters or proposes to enter into a consent decree of permanent injunction with the Company, or (vi) otherwise alleges any violation
of any laws, rules or regulations by the Company, and which, either individually or in the aggregate, would have or reasonably be expected
to result in a Material Adverse Effect. The properties, business and operations of the Company have been and are being conducted in all
material respects in accordance with all applicable laws, rules and regulations of the FDA and any other governmental entity. The Company
has not been informed by the FDA or any other governmental entity that the FDA or any other governmental entity will prohibit the testing,
distribution, marketing, sale, license or use of any product proposed to be developed, produced, tested, distributed or marketed by the
Company nor has the FDA or any other governmental entity expressed any concern as to approving for marketing any product being developed
or proposed to be developed by the Company. Neither the Company nor any of its officers, employees, agents or clinical investigators
has committed any act, made any statement or failed to make any statement that would reasonably be expected to provide a basis for the
FDA to invoke its policy with respect to “Fraud, Untrue Statements of Material Facts, Bribery, and Illegal Gratuities” set
forth in 56 Fed. Reg. 46191 (Sept. 10, 1991) and any amendments thereto. Neither the Company nor any officer, employee, independent contractor,
or agent of the Company has been convicted of any crime or engaged in any conduct that has resulted in or would reasonably be expected
to result in (i) debarment under 21 U.S.C. Section 335a or any similar state law or (ii) exclusion under 42 U.S.C. Section 1320a-7 or
any similar state law or regulation.

 

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3.28
Heath Care Laws. The Company has operated and currently is in compliance in all material respects with all applicable Health
Care Laws (defined herein), including, without limitation, the rules and regulations of the FDA, the U.S. Department of Health and Human
Services Office of Inspector General, the Centers for Medicare & Medicaid Services, the Office for Civil Rights, the Department of
Justice or any other governmental agency or body having jurisdiction over the Company or any of its properties, and has not engaged in
activities which are, as applicable, cause for false claims liability, civil penalties, or mandatory or permissive exclusion from Medicare,
Medicaid, or any other state or federal health care program. For purposes of this Agreement, “Health Care Laws” shall mean
the federal Antikickback Statute (42 U.S.C. § 1320a-7b(b)), the Physician Payment Sunshine Act (42 U.S.C. § 1320a-7h), the
civil False Claims Act (31 U.S.C. §§ 3729 et seq.), the criminal False Claims Act (42 U.S.C. § 1320a-7b(a)), all criminal
laws relating to health care fraud and abuse, including but not limited to 18 U.S.C. Sections 286 and 287, and the health care fraud
criminal provisions under the Health Insurance Portability and Accountability Act of 1996 (42 U.S.C. §1320d et seq.) (“HIPAA”),
the exclusion laws (42 U.S.C. § 1320a-7), the civil monetary penalties law (42 U.S.C. § 1320a-7a), HIPAA, as amended by the
Health Information Technology for Economic and Clinical Health Act (42 U.S.C. §§ 17921 et seq.), the patient privacy, data
security and breach notification provisions under HIPAA, the Federal Food, Drug, and Cosmetic Act (21 U.S.C. §§ 301 et seq.),
Medicare (Title XVIII of the Social Security Act), Medicaid (Title XIX of the Social Security Act), the regulations promulgated pursuant
to such laws, and any other similar local, state or federal law and regulations. The Company has not received any FDA Form 483, notice
of adverse finding, warning letter, untitled letter or other correspondence, communication or notice from the FDA or any other governmental
or regulatory authority alleging or asserting noncompliance with any Health Care Laws applicable to the Company. The Company is not a
party to nor has any ongoing reporting obligations pursuant to any corporate integrity agreements, deferred prosecution agreements, monitoring
agreements, consent decrees, settlement orders, plans of correction or similar agreements with or imposed by any governmental or regulatory
authority. Neither the Company nor any of its employees, officers, directors or, to the Company’s knowledge, consultants has been
excluded, suspended or debarred from participation in any U.S. state or federal health care program or human clinical research or, to
the Company’s knowledge, is subject to a governmental inquiry, investigation, proceeding, or other similar action that could reasonably
be expected to result in debarment, suspension, or exclusion

 

3.29
Full Force and Effect. Each and every Transaction Document, as such term is defined in that certain Unit Purchase Agreement
dated as of May 27, 2021 by and among the Company and the investors party thereto (as amended or otherwise modified, the “May,
2021 UPA”) executed and delivered in connection with the execution and delivery of the May, 2021 UPA are hereby acknowledged,
approved and confirmed. Such Transaction Documents constitute valid and binding obligations of each of the Company and the Subsidiaries,
enforceable against the Company and each Subsidiary in accordance with their respective terms, except as such enforceability may be limited
by general principles of equity or applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar Laws relating
to, or affecting generally, the enforcement of creditors’ rights and remedies. The Company acknowledges and agrees that each Investor
signatory hereto shall be deemed to have the same rights and remedies under the May, 2021 UPA as each investor signatory thereto without
any action upon the part of the Company, any Investor signatory hereto, or any investor signatory to the May, 2021 UPA.

 

4.
REPRESENTATIONS AND WARRANTIES OF THE INVESTORS.
Each Investor represents and warrants to the Company as follows:

 

4.1
Organization and Qualification. Such Investor, if it is not an individual, is duly organized and validly existing in good
standing under the laws of the state of organization.

 

4.2
Authorization; Enforcement; Compliance with Other Instruments. Such Investor has the requisite power and authority to enter
into this Agreement, the Security Agreement, the Company Patent Security Agreement, the Company Trademark Security Agreement and the
Pledge Agreement and to perform its obligations under the Transaction Documents. The execution and delivery by such Investor of the Transaction
Documents to which it is a party, if and as applicable, have been duly and validly authorized by such Investor’s governing body
and no further consent or authorization is required. The Transaction Documents to which it is a party have been duly and validly executed
and delivered by such Investor and constitute valid and binding obligations of such Investor, enforceable against such Investor in accordance
with their terms, except as such enforceability may be limited by general principles of equity or applicable bankruptcy, insolvency,
reorganization, moratorium, liquidation or similar laws relating to, or affecting generally, the enforcement of creditors’ rights
and remedies.

 

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4.3
No Conflicts. The execution, delivery and performance of the Transaction Documents to which it is a party by such Investor
and the purchase of the Units by such Investor will not (a) if and as applicable, conflict with or result in a violation of such Investor’s
organizational documents, (b) conflict with, or constitute a material default (or an event which, with notice or lapse of time or both,
would become a material default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, any
material agreement, contract, indenture mortgage, indebtedness or instrument to which such Investor is a party, or (c) violate any Law
applicable to such Investor or by which any of such Investor’s properties or assets are bound or affected. No approval or authorization
will be required from any governmental authority or agency, regulatory or self-regulatory agency or other third party in connection with
the purchase of the Units and the other transactions contemplated by this Agreement.

 

4.4
Investment Intent; Accredited Investor. Such Investor is purchasing the Units for its own account, for investment purposes,
and not with a view towards distribution. The Investor is an “accredited investor” as such term is defined in Rule 501(a)
of Regulation D of the Securities Act. Such Investor has, by reason of its business and financial experience, such knowledge, sophistication
and experience in financial and business matters and in making investment decisions of this type that it is capable of (a) evaluating
the merits and risks of an investment in the Units and the Investor Shares and making an informed investment decision, (b) protecting
its own interests and (c) bearing the economic risk of such investment for an indefinite period of time.

 

4.5
Opportunity to Discuss. Such Investor has received all materials relating to the business, finance and operations of the Company
and the Subsidiaries as it has requested and has had an opportunity to discuss the business, management and financial affairs of the
Company and the Subsidiaries with the Company’s management. In making its investment decision, such Investor has relied solely
on its own due diligence performed on the Company by its own representatives.

 

4.6
No Other Representations. Except for the representations and warranties set forth in this Agreement and in other Transaction
Documents, such Investor makes no other representations or warranties to the Company.

 

5.
OTHER AGREEMENTS OF THE PARTIES.

 

5.1
No Restrictions on Transfer. The Investor Shares, when issued on or after the 180-day anniversary of a Closing Date, shall
be freely transferrable and any certificates representing such Investor Shares shall not bear any legend, subject to the Investor’s
continuing status as a non-Affiliate.

 

5.2
Furnishing of Information. As long as an Investor owns the Securities, 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 1934 Act. As long as an Investor owns Securities, if the Company is not required to file reports pursuant to such laws,
it will prepare and furnish to such Investor and make publicly available in accordance with Rule 144(c) such information as is required
for such Investor to sell Investor Shares under Rule 144. The Company further covenants that it will take such further action as any
holder of Securities may reasonably request, all to the extent required from time to time to enable such Person to sell such Investor
Shares without registration under the Securities Act within the limitation of the exemptions provided by Rule 144 or other applicable
exemptions.

 

    	21

    	 

    

 

5.3
Integration. The Company shall not, and shall use its best efforts to ensure that no Affiliate of the Company shall, 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 will be integrated with the offer or sale of the Securities in a manner that would require the registration under the Securities
Act of the sale of the Securities to an Investor, or that will be integrated with the offer or sale of the Securities for purposes of
the rules and regulations of any Trading Market that would require, under the rules of the Trading Market, the Stockholder Approval.

 

5.4
Notification of Certain Events. The Company shall give prompt written notice to the Investors of (a) the occurrence or non-occurrence
of any Event, the occurrence or non-occurrence of which would render any representation or warranty of the Company or and Subsidiary
contained in this Agreement or any other Transaction Document, if made on or immediately following the date of such Event, untrue or
inaccurate in any material respect, (b) the occurrence of any Event that, individually or in combination with any other Events, has had
or could reasonably be expected to have a Material Adverse Effect, (c) any failure of the Company or any Subsidiary to comply with or
satisfy any covenant or agreement to be complied with or satisfied by it hereunder or any Event that would otherwise result in the nonfulfillment
of any of the conditions to the Investors’ obligations hereunder, (d) any notice or other communication from any Person alleging
that the consent of such Person is or may be required in connection with the consummation of the transactions contemplated by this Agreement
or any other Transaction Document, or (e) any Proceeding pending or, to the Company’s knowledge, threatened against a party relating
to the transactions contemplated by this Agreement or any other Transaction Document.

 

5.5
Available Stock. The Company shall at all times keep authorized and reserved and available for issuance, free of preemptive
rights, such number of shares of Common Stock as are issuable upon conversion of the Note and exercise of the Warrants at any time. If
the Company determines at any time that it does not have a sufficient number of authorized shares of Common Stock to reserve and keep
available for issuance as described in this Section 5.5, the Company shall use all commercially reasonable efforts to increase
the number of authorized shares of Common Stock by seeking Stockholder Approval for the authorization of such additional shares.

 

5.6
Use of Proceeds. The Company will use the proceeds from the sale of the Units, net of expenses, to expand the business development
and sales activities of the Company as well as fund continuing technology development and working capital and general corporate needs.

 

5.7
Reserved.

 

    	22

    	 

    

 

5.8
Intercreditor Agreement. In the event that the Company or any Subsidiary incurs debt or issues convertible debt securities
to a seller as partial consideration paid to such seller in connection with an Acquisition, unless otherwise waived in writing by a Majority
of Interest of the Investors, as a condition to consummation of such Acquisition, the holder of such debt or convertible debt securities
shall enter into an intercreditor agreement with the Company and the Investors on terms reasonably satisfactory to a Majority of Interest
of the Investors.

 

5.9
No Shorting. So long as such Investor continues to hold the Note, the Warrants or any portion thereof, such Investor will
comply with the provisions of Section 9 of the 1934 Act, and the rules promulgated thereunder, with respect to transactions involving
the Common Stock and will not, either directly or indirectly through its Affiliates, principals or advisors, engage in any short sales
or other similar hedging transactions with respect to the Common Stock.

 

5.10
Prohibited Transactions. The Company hereby covenants and agrees not to enter into any Prohibited Transactions without such
Investor’s prior written consent, until the earlier of (a) thirty (30) days after such time as the Notes have been repaid in full
and/or has been converted into Conversion Shares and (b) the date on which such Investor ceases to hold any shares of Common Stock or
have the right to acquire any shares of Common Stock, including by exercise of the Warrants.

 

5.11
Securities Laws Disclosure; Publicity. The Company shall, by 9:30 a.m. (New York City time) on the Trading Day immediately
following each Closing Date hereof, issue a press release disclosing the material terms of the transactions contemplated hereby, and
shall, within two (2) Business Days following each Closing Date hereof, file a Current Report on Form 8-K disclosing the material terms
of the transactions contemplated hereby and including this Agreement as an exhibit thereto; provided, that the Company, in each case,
must provide a copy of such press release prior to its release and a copy of such Current Report on Form 8-K prior to its filing to the
Investors for review, and the Company shall incorporate the Investors’ reasonable comments with respect to each. For the avoidance
of doubt, this obligation shall apply for each and every Closing of this Offering and shall include the requirement to file a final Current
Report on Form 8-K disclosing the final Closing and the aggregate amount raised pursuant to this Offering. The Company shall not issue
any press release nor otherwise make any such public statement regarding any Investor or the Transaction Documents without the prior
written consent of such Investor, except if such disclosure is required by law, in which case the Company shall (a) ensure that such
disclosure is restricted and limited in content and scope to the maximum extent permitted by Law to meet the relevant disclosure requirement
and (b) provide a copy of the proposed disclosure to such Investor for review prior to release and the Company shall incorporate the
Investors’ reasonable comments. Following the execution of this Agreement, any Investor and its Affiliates and/or advisors may
place announcements on their respective corporate websites and in financial and other newspapers and publications (including customary
“tombstone” advertisements) describing such Investor’s relationship with the Company under this Agreement and including
the name and corporate logo of the Company. Notwithstanding anything herein to the contrary, to comply with United States Treasury Regulations
Section 1.6011-4(b)(3)(i), each of the Company and such Investor, and each employee, representative or other agent of the Company or
such Investor, may disclose to any and all persons, without limitation of any kind, the U.S. federal and state income tax treatment,
and the U.S. federal and state income tax structure, of the transactions contemplated hereby and all materials of any kind (including
opinions or other tax analyses) that are provided to such party relating to such tax treatment and tax structure insofar as such treatment
and/or structure relates to a U.S. federal or state income tax strategy provided to such recipient.

 

    	23

    	 

    

 

5.12
Indemnification of the Investors.

 

(a)
The Company will indemnify and hold each Investor, its Affiliates and their respective directors, officers, managers, shareholders, members,
partners, employees and agents and permitted successors and assigns (each, an “Investor 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 and defense (collectively, “Losses”)
that any such Investor Party may suffer or incur as a result of or relating to:

 

(i)
any breach or inaccuracy of any representation, warranty, covenant or agreement made by the Company in any Transaction Document;

 

(ii)
any misrepresentation made by the Company in any Transaction Document or in any SEC Document;

 

(iii)
any omission to state any material fact necessary in order to make the statements made in any SEC Document, in light of the circumstances
under which they were made, not misleading;

 

(iv)
any Proceeding before or by any court, public board, government agency, self-regulatory organization or body based upon, or resulting
from the execution, delivery, performance or enforcement of any of the Transaction Documents or the consummation of the transactions
contemplated thereby, and whether or not such Investor is party thereto by claim, counterclaim, crossclaim, as a defendant or otherwise,
or if such Proceeding is based upon, or results from, any of the items set forth in clauses (i) through (iii) above.

 

(b)
In addition to the indemnity contained herein, the Company will reimburse each Investor Party for its reasonable legal and other expenses
(including the cost of any investigation, preparation and travel in connection therewith) incurred in connection therewith, as such expenses
are incurred.

 

(c)
The provisions of this Section 5.12 shall survive the termination or expiration of this Agreement.

 

5.13
Non-Public Information. The Company covenants and agrees that neither it nor any other Person acting on its behalf will provide
any Investor or its agents or counsel with any information that the Company believes constitutes material, non-public information. To
the extent the Company provides an Investor with material, non-public information, the Company shall publicly disclose such information
within three (3) Business Days of providing the information to such Investor; provided, however, in the event that such material non-public
information is provided to such Investor pursuant to Section 10, the Company shall publicly disclose such information within twenty
(20) Business Days of providing the information to such Investor. The Company understands and confirms that each Investor shall be relying
on the foregoing representation in effecting transactions in securities of the Company.

 

    	24

    	 

    

 

5.14
[Reserved]

 

5.15
Listing of Securities. The Company shall, if and as applicable: (a) in the time and manner required by each Trading Market
on which the Common Stock is listed, prepare and file with such Trading Market an additional shares listing application covering the
Investor Shares, (b) take all steps necessary to cause such shares to be approved for listing on each Trading Market on which the Common
Stock is listed as soon as possible thereafter, (c) provide to the Investors evidence of such listing, and (d) maintain the listing of
such shares on each such Trading Market.

 

5.16
[Reserved]

 

5.17
[Reserved]

 

5.18
Share Transfer Agent. The Company has informed the Investors of the name of its share transfer agent and represents and warrants
that the transfer agent participates in the Depository Trust Company Fast Automated Securities Transfer program. The Company shall not
change its share transfer agent without the prior written consent of a Majority in Interest of the Investors.

 

5.19
Tax Treatment. [Reserved].

 

5.20
Set-Off.

 

(a)
Each Investor may set off any of its obligations to the Company (whether or not due for payment), against any of the Company’s
obligations to such Investor (whether or not due for payment) under this Agreement and/or any other Transaction Document.

 

(b)
Each Investor may do anything necessary to effect any set-off undertaken in accordance with this Section 5.20 (including varying
the date for payment of any amount payable by such Investor to the Company).

 

5.21
[Reserved]

 

6.
CLOSING CONDITIONS

 

6.1
Conditions Precedent to the Obligations of the Investors. The obligation of an Investor to fund the Units at a Closing is
subject to the satisfaction or waiver by an Investor, at or before such Closing, of each of the following conditions:

 

(a)
Required Documentation. The Company must have delivered to the Investors copies of all resolutions duly adopted by the Board of
Directors of the Company, or any such other documentation of the Company approving the Agreement, the Transaction Documents and any of
the transactions contemplated hereby or thereby.

 

    	25

    	 

    

 

(b)
Consents and Permits. The Company must have obtained and delivered to the Investors copies of all necessary permits, approvals,
and registrations necessary to effect this Agreement, the Transaction Documents and any of the transactions contemplated hereby or thereby,
including pursuant to Section 3.14 of this Agreement.

 

(c)
[Reserved]

 

(d)
No Event(s) of Default. The Investors must be of the reasonable opinion that no Event of Default has occurred and no Event of
Default would result from the execution of this Agreement or any of the Transaction Documents or the transactions contemplated hereby
or thereby.

 

(e)
Representations and Warranties. The representations and warranties of the Company contained herein shall be true and correct in
all material respects as of the date when made and as of such Closing as though made on and as of such date;

 

(f)
Performance. The Company shall have performed, satisfied and complied in all material respects with all covenants, agreements
and conditions required by the Transaction Documents to be performed, satisfied or complied with by it at or prior to such Closing;

 

(g)
No Injunction. No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated
or endorsed by any court or governmental authority of competent jurisdiction that prohibits the consummation of any of the transactions
contemplated by the Transaction Documents;

 

(h)
No Suspensions of Trading in Common Stock; Listing. Trading in the Common Stock shall not have been suspended by the SEC or any
Trading Market (except for any suspensions of trading of not more than one day on which the Trading Market is open solely to permit dissemination
of material information regarding the Company) at any time since the date of execution of this Agreement, and the Common Stock shall
have been at all times since such date eligible for quotation, or listed for trading, as applicable, on a Trading Market; and

 

(i)
Limitation on Beneficial Ownership. The issuance of the Units shall not cause any Investor Group to become, directly or indirectly,
a “beneficial owner” (within the meaning of Section 13(d) of the 1934 Act and the rules and regulations promulgated thereunder)
of a number of Equity Interests of a class that is registered under the 1934 Act which exceeds the Maximum Percentage of the Equity Interests
of such class that are outstanding at such time.

 

(j)
Perfection of Security Interest. The Investors shall have, to their satisfaction, perfected the security interest granted in the
assets and collateral of the Company and its Subsidiaries described in the Security Agreement, the Company Patent Security Agreement,
the Company Trademark Security Agreement, and the Subsidiary Security Agreement.

 

(k)
Funds Flow Request. The Company shall have delivered to the Investors a flow of funds request, substantially in the form set out
in Exhibit K.

 

    	26

    	 

    

 

6.2
Conditions Precedent to the Obligations of the Company. The obligation of the Company to issue the Units at a Closing is subject
to the satisfaction or waiver by the Company, at or before such Closing, of each of the following conditions:

 

(a)
Representations and Warranties. The representations and warranties of each Investor contained herein shall be true and correct
in all material respects as of the date when made and as of such Closing Date as though made on and as of such date;

 

(b)
Performance. Each Investor shall have performed, satisfied and complied in all material respects with all covenants, agreements
and conditions required by the Transaction Documents to be performed, satisfied or complied with by such Investor at or prior to such
Closing; and

 

(c)
No Injunction. No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated
or endorsed by any court or governmental authority of competent jurisdiction that prohibits the consummation of any of the transactions
contemplated by the Transaction Documents.

 

7.
EVENTS OF DEFAULT

 

7.1
Events of Default. The occurrence of any of the following events shall be an “Event of Default” under this
Agreement:

 

(a)
an Event of Default under the Notes or any other Transaction Document;

 

(b)
any of the representations or warranties made by the Company or any Subsidiary or any of their respective agents, officers, directors,
employees or representatives in any Transaction Document or public filing being inaccurate, false or misleading in any material respect,
as of the date as of which it is made or deemed to be made, or any certificate or financial or other written statements furnished by
or on behalf of the Company or any Subsidiary to the Investors or any of its representatives, is inaccurate, false or misleading, in
any material respect, as of the date as of which it is made or deemed to be made, or on any Closing Date; or

 

(c)
a failure by the Company to comply with any of its covenants or agreements set forth in this Agreement, including those set forth in
Section 10.

 

7.2
Investor Right to Investigate an Event of Default. If in reasonable opinion of a Majority of Interest of the Investors, an
Event of Default has occurred, or is or may be continuing:

 

(a)
the Unitholder Representative acting on behalf of the Investors may notify the Company that is wishes to investigate such purported Event
of Default;

 

(b)
the Company shall cooperate with the Unitholder Representative in such investigation;

 

    	27

    	 

    

 

(c)
the Company shall comply with all reasonable requests made by the Unitholder Representative to the Company in connection with any investigation
by the Unitholder Representative and shall (i) provide all information requested by the Unitholder Representative in relation to the
Event of Default to the Unitholder Representative; provided that the Unitholder Representative agrees that any materially price sensitive
information and/or non-public information will be subject to confidentiality, and (ii) provide all such requested information within
three (3) Business Days of such request; and

 

(d)
the Company shall pay all reasonable costs incurred by the Investors, and, if and as applicable, the Unitholder Representative in connection
with any such investigation.

 

7.3
Remedies Upon an Event of Default

 

(a)
If an Event of Default occurs pursuant to Section 7.1(a), the Investors and the Unitholder Representative, as applicable, shall
have such remedies as are set forth in the Notes.

 

(b)
If an Event of Default occurs pursuant to Section 7.1(b) or Section 7.1(c) and is not remedied within (i) two (2) Business
Days for an Event of Default occurring by the Company’s failure to comply with Section 7.1(c), or (ii) ten (10) Business
Days for an Event of Default occurring pursuant to Section 7.1(b), the Unitholder Representative may declare, by notice to the
Company, effective immediately, all outstanding obligations by the Company under the Transaction Documents to be immediately due and
payable in immediately available funds and the Investors shall have no obligation to consummate any Closing under this Agreement or to
accept the conversion of any Note into Conversion Shares.

 

(c)
If any Event of Default occurs and is not remedied within (i) two (2) Business Days for an Event of Default occurring by the Company’s
failure to comply with Section 7.1(c), or (ii) ten (10) Business Days for an Event of Default occurring pursuant to Section
7.1(b), the Unitholder Representative may, by written notice to the Company, terminate this Agreement effective as of the date set
forth in the Unitholder Representative’s notice.

 

8.
TERMINATION

 

8.1
Events of Termination. This Agreement:

 

(a)
may be terminated:

 

(i)
by the Investors on the occurrence or existence of a Securities Termination Event or a Change of Control;

 

(ii)
by the mutual written consent of the Company and the Investors, at any time;

 

(iii)
by either Party, by written notice to the other Party, effective immediately, if a Closing has not occurred within fifteen (15) Business
Days of the date of this Agreement or such later date as the Company and Placement Agent agree in writing, provided that the right to
terminate this Agreement under this Section 8.1(a)(iii) is not available to any party that is in material breach of or material
default under this Agreement or whose failure to fulfill any obligation under this Agreement has been the principal cause of, or has
resulted in the failure of a Closing to occur; or

 

    	28

    	 

    

 

(iv)
by the Investors or the Unitholder Representative, as applicable, in accordance with Section 7.3(c).

 

8.2
Automatic Termination. This Agreement will automatically terminate, without further action by the parties, at the time after
a Closing that the Principal Amount outstanding under the Note and any accrued but unpaid interest is reduced to zero (0), whether as
a result of Conversion or repayment by the Company in accordance with the terms of this Agreement and the Notes and the Investor no longer
holds any Investor Shares.

 

8.3
Effect of Termination.

 

(a)
Subject to Section 8.3(b), each party’s right of termination under Section 8.1 is in addition to any other rights
it may have under this Agreement or otherwise, and the exercise of a right of termination will not be an election of remedies.

 

(b)
If an Investor terminates this Agreement under Section 8.1(a)(i):

 

(i)
such Investor may declare, by notice to the Company, all outstanding obligations by the Company under the Transaction Documents to be
due and payable (including, without limitation, the immediate repayment of any Principal Amount outstanding under its Note plus accrued
but unpaid interest) without presentment, demand, protest or any other notice of any kind, all of which are expressly waived by the Company,
anything to the contrary contained in this Agreement or in any other Transaction Document notwithstanding; and

 

(ii)
the Company must within five (5) Business Days of such notice being received, pay to such Investor in immediately available funds the
outstanding Principal Amount for the Note plus all accrued interest thereon (if any), unless such Investor terminates this Agreement
as a result of an Event of Default and provided that (A) subsequent to the termination under Section 8.1(a)(i), such Investor
is not prohibited by Law or otherwise from exercising its conversion rights pursuant to this Agreement or the Note or exercise rights
pursuant to the Warrants, (B) such Investor actually exercises its conversion rights under this Agreement or the Note or under the Warrant,
and (C) the Company otherwise complies in all respects with its obligation to issue Conversion Shares in accordance with the Note or
issue Warrant Shares in accordance with the Warrants (which obligation will survive termination).

 

(c)
Upon termination of this Agreement, such Investor will not be required to fund any further amount after the date of termination of the
Agreement, provided that termination will not affect any undischarged obligation under this Agreement, and any obligation of the Company
to pay or repay any amounts owing to such Investor hereunder and which have not been repaid at the time of termination.

 

    	29

    	 

    

 

(d)
Nothing in this Agreement will be deemed to release any party from any liability for any breach by such party of the terms and provisions
of this Agreement or to impair the right of any party to compel specific performance by any other Party of its obligations under this
Agreement.

 

(e)
Notwithstanding anything herein to the contrary, the Company’s covenant under Section 5.8 of this Agreement shall survive
the termination of this Agreement in accordance with its terms.

 

9.
REGISTRATION RIGHTS

 

9.1
The Investors’ Registration Rights. The Investors’ registration rights are set forth in the Registration Rights
Agreement substantially in the form of Exhibit G.

 

10.
RIGHTS TO FUTURE STOCK ISSUANCES. Subject
to the terms and conditions of this Section 10 and applicable securities laws, if at any time prior to the first anniversary of
the initial Closing, the Company proposes to offer or sell any New Securities, the Company shall first offer the Investors the opportunity
to purchase up to one hundred percent (100%) of such New Securities. The Investors shall be entitled to apportion the right of first
offer hereby granted to them in proportions as their respective ownership percentages of the Units.

 

10.1
The Company shall give notice (the “Offer Notice”) to the Investors, stating (a) its bona fide intention to offer
such New Securities, (b) the number of such New Securities to be offered, and (c) the price and terms, if any, upon which it proposes
to offer such New Securities.

 

10.2
By notification to the Company within ten (10) days after the Offer Notice is given, the Investors may elect to purchase or otherwise
acquire, at the price and on the terms specified in the Offer Notice, up to one hundred percent (100%) of such New Securities. The closing
of any sale pursuant to this Section 10 shall occur within the later of ninety (90) days of the date that the Offer Notice is
given and the date of initial sale of New Securities pursuant to Section 10.3.

 

10.3
The Company may, during the ninety (90) day period following the expiration of the period provided in Section 10.2, offer
and sell the remaining portion of such New Securities to any Person or Persons at a price not less than, and upon terms no more favorable
to the offeree than, those specified in the Offer Notice. If the Company does not enter into an agreement for the sale of the New Securities
within such period, or if such agreement is not consummated within thirty (30) days of the execution thereof, the right provided hereunder
shall be deemed to be revived and such New Securities shall not be offered unless first reoffered to the Investors in accordance with
this Section 10.

 

10.4
The right of first offer in this Section 10 shall not be applicable to Exempted Securities, or any New Securities registered
for sale under the Securities Act.

 

    	30

    	 

    

 

11.
GENERAL PROVISIONS

 

11.1
Fees and Expenses. Prior to the date of this Agreement, the Company has paid Sullivan & Worcester LLP $20,000.00.
Subject to the limitations set forth in the Placement Agency Agreement between the Company and the Placement Agent, at each Closing,
the Company shall reimburse the Placement Agent for its due diligence costs and reasonable fees and disbursements of Sullivan & Worcester
LLP in connection with the preparation of the Transaction Documents it being understood that Sullivan & Worcester LLP has not rendered
any legal advice to the Company in connection with the transactions contemplated hereby and that the Company has relied for such matters
on the advice of its own counsel. Except as specified above, 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 the Transaction Documents. The Company shall pay all stamp and other taxes and duties levied in connection with the
sale of the Units.

 

11.2
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 date of transmission, if such notice or communication is
delivered via email at the email address specified in this Section prior to 5:00 p.m. (New York time) on a Business Day, (b) the next
Business Day after the date of transmission, if such notice or communication is delivered via email at the email address specified in
this Section on a day that is not a Business Day or later than 5:00 p.m. (New York time) on any date and earlier than 11:59 p.m. (New
York time) on such date, (c) the Business 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 follows:

 

If
to the Company:

 

Marizyme,
Inc.

555 Heritage Drive, Suite 205

Jupiter,
Florida 33458

Attention:
David Barthel, CEO

Email:
DBarthel@marizyme.com

With
a copy (which shall not constitute notice) to:

 

Bevilacqua
PLLC

1050
Connecticut Ave NW #500

Washington,
DC 20036

Attention:
Louis A. Bevilacqua, Esq.

Email:
lou@bevilacquapllc.com

 

    	31

    	 

    

 

If
to the Placement Agent:

 

Univest
Securities, LLC

375
Park Avenue, 27th Floor

New
York, NY 10152

Email:

Attention:

 

With
a copy (which shall not constitute notice) to:

 

Sullivan
& Worcester LLP

1633
Broadway

New
York, NY 10019

(212)
660-3060

Email:
ddanovitch@sullivanlaw.com

Attention:
David E. Danovitch, Esq.

 

If
to an Investor, to the address set forth on the applicable Investor’s signature page.

 

Or
such other address as may be designated in writing hereafter, in the same manner, by such Person.

 

11.3
Severability. If any provision of this Agreement is held by a court of competent jurisdiction to be excessive in scope or
otherwise invalid or unenforceable, such provision shall be adjusted rather than voided, if possible, so that it is enforceable to the
maximum extent possible, and the validity and enforceability of the remaining provisions of this Agreement will not in any way be affected
or impaired thereby.

 

11.4
Governing Law. This Agreement shall be governed by and construed in accordance with the Laws of the State of New York, without
reference to principles of conflict of laws or choice of laws.

 

11.5
Jurisdiction and Venue. Any action, proceeding or claim arising out of, or relating in any way to this Agreement shall be
brought and enforced in the New York Supreme Court, County of New York, or in the United States District Court for the Southern District
of New York. The Company and each Investor irrevocably submit to the jurisdiction of such courts, which jurisdiction shall be exclusive,
and hereby waive any objection to such exclusive jurisdiction or that such courts represent an inconvenient forum. The prevailing party
in any such action shall be entitled to recover its reasonable and documented attorneys’ fees and out-of-pocket expenses relating
to such action or proceeding.

 

11.6
WAIVER OF RIGHT TO JURY TRIAL. THE COMPANY AND THE INVESTOR HEREBY IRREVOCABLY WAIVE, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE OTHER TRANSACTION
DOCUMENTS.

 

11.7
Survival. The representations, warranties, agreements and covenants contained herein shall survive the applicable Closing
and the delivery of the Securities.

 

    	32

    	 

    

 

11.8
Entire Agreement. The Transaction Documents, together with the Exhibits and Schedules thereto, contain the entire understanding
of the parties with respect to the subject matter hereof 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.

 

11.9
Amendments; Waivers. No provision of this Agreement may be waived or amended except in a written instrument signed by the
Company and a Majority in Interest of the Investors. 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 either party to exercise any right hereunder in any manner
impair the exercise of any such right.

 

11.10
Construction. 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. The language used in this Agreement will be deemed to be the language chosen by the
parties to express their mutual intent, and no rules of strict construction will be applied against any party. This Agreement shall be
construed as if drafted jointly by the parties, and no presumption or burden of proof shall arise favoring or disfavoring any party by
virtue of the authorship of any provisions of this Agreement or any of the Transaction Documents.

 

11.11
Successors and Assigns. This Agreement shall be binding upon, and inure to the benefit of and be enforceable by, the Company
and each Investor and their respective successors and assigns. The Company may not assign this Agreement or any rights or obligations
hereunder without the prior written consent of a Majority in Interest of the Investors. Each Investor may assign any or all of its rights
under this Agreement to any Person to whom such Investor assigns or transfers any Securities, provided such transferee agrees in writing
to be bound, with respect to the transferred Securities, by the provisions hereof that apply to the “Investor” and such transferee
is an accredited investor.

 

11.12
No Third-Party Beneficiaries. Except for the indemnification provisions set forth herein, 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.

 

11.13
Further Assurances. Each party hereto 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.

 

11.14
Counterparts. This Agreement may be executed in two or more identical counterparts, both of which 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.
Signature pages delivered by facsimile or e-mail shall have the same force and effect as an original signature.

 

11.15
Specific Performance. The Company acknowledges that monetary damages alone would not be adequate compensation to any Investor
for a breach by the Company of this Agreement and such Investor may seek an injunction or an order for specific performance from a court
of competent jurisdiction if (a) the Company fails to comply or threatens not to comply with this Agreement or (b) any Investor has reason
to believe that the Company will not comply with this Agreement.

 

11.16
. Appointment of Agent and Unitholder Representative. In furtherance of the authority granted Investors pursuant to
Section 2.2(b) of the Notes and under Section 1 of this Agreement with respect to the right of the Majority in Interest of the Investors
(as defined herein) to appoint a Unitholder Representative, a Majority in Interest of the Investors hereby appoints Univest Securities,
LLC to act as their agent with respect to administering their rights under the Transaction Documents and to act as their Unitholder Representative
upon the occurrence and continuance of an Event of Default (as defined in the applicable Transaction Document). The rights and obligations
of Univest Securities, LLC as Agent and Unitholder Representative may be further described in one or more separate agreements. So long
as an Unitholder Representative has been duly appointed in accordance with the terms hereof and is carrying out its obligations under
the Notes, no Investor other than the Unitholder Representative may pursue any remedy with respect to the Notes in connection with an
Event of Default.

 

[Signature
Page Follows]

 

    	33

    	 

    

 

IN
WITNESS WHEREOF, the undersigned have executed this Unit Purchase Agreement as of the date first set forth above.

 

	COMPANY:	 
	 	 	 
	By:	 	 
	Name:	 	 
	Title:	 	 

 

[Signature
Page of Unit Purchase Agreement]

 

    	 

     

    

 

INVESTOR
SIGNATURE PAGE TO THE Marizyme, INC. UNIT PURCHASE AGREEMENT 

 

IN
WITNESS WHEREOF, the undersigned has caused this Unit Purchase Agreement to be duly executed by its authorized signatory as of the date
first indicated above. 

 

Name
of Investor: 

 

	Signature
    of Authorized Signatory of Investor: 	___________________________________
	Name
    of Authorized Signatory: 	___________________________________
	Title
    of Authorized Signatory: 	____________________________________
	Email
    Address of Authorized Signatory: 	____________________________________
	Facsimile
    Number of Authorized Signatory: 	____________________________________

 

	Address
    for Notice to Investor: 	 	 
	 	 	 
	Closing
    Subscription Amount: 	$____________	 
	 	 	 
	Number
    of Class C Warrants	_____________	 
	 	 	 
	EIN
    Number: 	 	 

 

    	 

     

    

 

APPENDIX
A

 

SCHEDULE
OF INVESTORS

 

First
Closing:

 

	Name of Investor	 	Initial Units	 	Principal

                                                                                                  Sum
of Note
	 	Class C

                                                                                Warrants
	 	Subscription

                                                                                Amount

	Lead Investor	 	 	3,428,572	 	 	$	6,000,000	 	 	 	6,857,144	 	 	$	6,000,000	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	TOTAL: $	 

 

Second
Closing:

 

	Name of Investor	 	Initial Units	 	Principal

                                                                                Sum of Note
	 	Class C

                                                                                Warrants
	 	Subscription

                                                                                Amount

	Lead Investor	 	 	1,142,857	 	 	$	2,000,000	 	 	 	2,285,714	 	 	$	2,000,000	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	TOTAL: $	 

 

Third
Closing:

 

	Name of Investor	 	Initial Units	 	Principal

                                                                                Sum of Note
	 	Class C

                                                                                Warrants
	 	Subscription

                                                                                Amount

	Lead Investor	 	 	1,142,857	 	 	$	2,000,000	 	 	 	2,285,714	 	 	$	2,000,000	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	TOTAL: $	 

 

    	 

     

    

 

EXHIBIT
A

 

FORM
OF SECURITY AGREEMENT

 

[See
attached]

 

    	 

     

    

 

EXHIBIT
B

 

FORM
OF PLEDGE AGREEMENT

 

[See
attached]

 

    	 

     

    

 

EXHIBIT
C

 

FORM
OF COMPANY PATENT SECURITY AGREEMENT

 

[See
attached]

 

    	 

     

    

 

EXHIBIT
D

 

FORM
OF COMPANY TRADEMARK SECURITY AGREEMENT

 

[See
attached]

 

    	 

     

    

 

EXHIBIT
E

 

FORM
OF SUBSIDIARY GUARANTY

 

[See
attached]

 

    	 

     

    

 

EXHIBIT
F

 

FORM
OF SUBSIDIARY SECURITY AGREEMENT

 

[See
attached]

 

    	 

     

    

 

EXHIBIT
G

 

FORM
OF REGISTRATION RIGHTS AGREEMENT

 

[See
attached]

 

    	 

     

    

 

EXHIBIT
H

 

FORM
OF NOTE

 

[See
attached]

 

    	 

     

    

 

EXHIBIT
I

 

FORM
OF Class C Warrant

 

[See
attached]

 

    	 

     

    

 

EXHIBIT
J

 

FORM
OF TRANSFER AGENT INSTRUCTION

 

[To
be provided]

 

    	 

     

    

 

EXHIBIT
K

 

FLOW
OF FUNDS REQUEST

 

Marizyme,
Inc. – Unit Purchase Agreement – Flow of Funds Request

 

In
connection with the Unit Purchase Agreement, dated December , 2021 (the “Agreement”) between Marizyme, Inc. (the “Company”)
and the Investors, the Company irrevocably authorizes the Investors to distribute such funds as set out below, in the manner set out
below, at a Closing.

 

Capitalized
terms used but not otherwise defined in this letter will have the meaning given to such terms in the Agreement.

 

	Item	Amount
	Closing
    	$__________
	Total	$___________

 

Please
transfer the net amount of US $___________ due at the Closing, to the following bank account:

 

Beneficiary
Bank:

Swift
code:

ABA/Routing
#:

Account
#:

Beneficiary
name and address:

 

Yours
sincerely,

 

MARIZYME,
INC.

 

	By:
    	 	 
	Name:	 	 
	Title:	 	 

 

    	 

     

    

 

EXHIBIT
L

 

FORM
OF EXCHANGE AGREEMENT

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