Document:

Exhibit 10.3

 

REGISTRATION
RIGHTS AGREEMENT

 

REGISTRATION
RIGHTS AGREEMENT (this “Agreement”), dated as of October 22, 2018, by and among Wize Pharma, Inc., a Delaware
corporation, with headquarters located at 24 Hanagar Street, Hod Hasharon 4527708, Israel (the “Company”), and
the investors listed on the Schedule of Buyers attached hereto (each, a “Buyer” and collectively, the “Buyers”).

 

WHEREAS:

 

A. In
connection with the Securities Purchase Agreement by and among the parties hereto of even date herewith (the “Securities
Purchase Agreement”), the Company has agreed, upon the terms and subject to the conditions of the Securities Purchase
Agreement, to issue and sell to each Buyer (i) shares (the “Common Shares”) of the Company’s common stock, par
value $0.001 per share (the “Common Stock”), (ii) shares of the Company’s Series A Convertible Preferred Stock,
par value $0.001 per share (the “Preferred Shares”), which will, among other things, be convertible into a certain
number of shares of Common Stock (as converted, the “Conversion Shares”) in accordance with the terms of the
Certificate of Designations, Preferences and Rights of Series A Convertible Preferred Stock (the “Certificate of Designations”)
and (iii) Series A and Series B warrants (the “Warrants”) which will be exercisable to purchase shares of Common
Stock (as exercised, the “Warrant Shares”) in accordance with the terms of the Warrants.

 

B. In
accordance with the terms of the Securities Purchase Agreement, the Company has agreed to provide certain registration rights
under the Securities Act of 1933, as amended, and the rules and regulations thereunder, or any similar successor statute (collectively,
the “1933 Act”), and applicable state securities laws.

 

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

 

1.
Definitions.

 

Capitalized
terms used herein and not otherwise defined herein shall have the respective meanings set forth in the Securities Purchase Agreement.
As used in this Agreement, the following terms shall have the following meanings:

 

(a)
“Additional Effective Date” means the date the Additional Registration Statement is declared effective by the
SEC.

 

(b)
“Additional Effectiveness Deadline” means the date which is the earlier of (i) in the event that the Additional
Registration Statement (x) is not subject to a full review by the SEC, the date which is sixty (60) calendar days after the earlier
of the Additional Filing Date and the Additional Filing Deadline or (y) is subject to a full review by the SEC, the date which
is ninety (90) calendar days after the earlier of the Additional Filing Date and the Additional Filing Deadline and (ii) the fifth
(5th) Business Day after the date the Company is notified (orally or in writing, whichever is earlier) by the SEC that such Additional
Registration Statement will not be reviewed or will not be subject to further review; provided, however, that if
the Additional Effectiveness Deadline falls on a Saturday, Sunday or other day that the SEC is closed for business, the Additional
Effectiveness Deadline shall be extended to the next Business Day on which the SEC is open for business.

 

     

     

    

 

(c)
“Additional Filing Date” means the date on which the Additional Registration Statement is filed with the SEC.

 

(d)
“Additional Filing Deadline” means if Cutback Shares are required to be included in any Additional Registration
Statement, the later of (i) the date sixty (60) days after the date substantially all of the Registrable Securities registered
under the immediately preceding Registration Statement are sold and (ii) the date six (6) months from the Initial Effective Date
or the most recent Additional Effective Date, as applicable.

 

(e)
“Additional Registrable Securities” means, (i) any Cutback Shares not previously included on a Registration Statement
and (ii) any capital stock of the Company issued or issuable with respect to the Common Shares, Preferred Shares, the Conversion
Shares, the Warrants, the Warrant Shares, or the Cutback Shares, as applicable, as a result of any stock split, stock dividend,
recapitalization, exchange or similar event or otherwise, without regard to any limitations on conversion of the Preferred Shares
or exercise of the Warrants.

 

(f)   
“Additional Registration Statement” means a registration statement or registration statements of the Company
filed under the 1933 Act covering the resale any Additional Registrable Securities.

 

(g)
“Additional Required Registration Amount” means any Cutback Shares not previously included on a Registration
Statement, all subject to adjustment as provided in Section 2(f), without regard to any limitations on conversion of the Preferred
Shares or exercise of the Warrants.

 

(h)
“Business Day” means any day other than Saturday, Sunday or any other day on which commercial banks in the City
of New York are authorized or required by law to remain closed.

 

(i)
“Closing Date” shall have the meaning set forth in the Securities Purchase Agreement.

 

(j)
“Cutback Shares” means any of the Initial Required Registration Amount or the Additional Required Registration
Amount of Registrable Securities not included in all Registration Statements previously declared effective hereunder as a result
of a limitation on the maximum number of shares of Common Stock of the Company permitted to be registered by the staff of the
SEC pursuant to Rule 415. The number of Cutback Shares shall be allocated pro rata among the Investors with each Investor entitled
to elect the portion of its Conversion Shares and/or Warrant Shares that are to be considered Cutback Shares. For the purpose
of determining the Cutback Shares, in order to determine any applicable Required Registration Amount, unless an Investor gives
written notice to the Company to the contrary with respect to the allocation of its Cutback Shares, first the Warrant Shares shall
be excluded on a pro rata basis among the Investors until all of the Warrant Shares have been excluded, second the Conversion
Shares shall be excluded on a pro rata basis among the Investors until all of the Conversion Shares have been excluded and third
the Common Shares shall be excluded on a pro rata basis among the Investors until all of the Common Shares have been excluded

 

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(k)
“Designee” means Empery Asset Management LP.

 

(l)
“effective” and “effectiveness” refer to a Registration Statement that has been declared effective
by the SEC and is available for the resale of the Registrable Securities required to be covered thereby.

 

(m)
“Effective Date” means the Initial Effective Date and the Additional Effective Date, as applicable.

 

(n)
“Effectiveness Deadline” means the Initial Effectiveness Deadline and the Additional Effectiveness
Deadline, as applicable.

 

(o)
“Eligible Market” means the Principal Market, The New York Stock Exchange, Inc., the NYSE American, the Nasdaq
Global Select Market, the Nasdaq Global Market, the Nasdaq Capital Market or the OTC QX.

 

(p)
“Filing Deadline” means the Initial Filing Deadline and the Additional Filing Deadline, as applicable.

 

(q)
“Initial Effective Date” means the date that the Initial Registration Statement has been declared effective by
the SEC.

 

(r)
“Initial Effectiveness Deadline” means the date which is the earlier of (i) in the event that the Initial Registration
Statement (x) is not subject to a full review by the SEC, ninety (90) calendar days after the Closing Date or (y) is subject to
a full review by the SEC, one hundred twenty (120) calendar days after the Closing Date and (ii) the fifth (5th) Business Day
after the date the Company is notified (orally or in writing, whichever is earlier) by the SEC that such Initial Registration
Statement will not be reviewed or will not be subject to further review; provided, however, that if the Initial
Effectiveness Deadline falls on a Saturday, Sunday or other day that the SEC is closed for business, the Initial Effectiveness
Deadline shall be extended to the next Business Day on which the SEC is open for business.

 

(s)
“Initial Filing Date” means the date on which the Initial Registration Statement is filed with the SEC.

 

(t)
“Initial Filing Deadline” means the date which is thirty (30) calendar days after the Closing Date.

 

(u)
“Initial Registrable Securities” means (i) the Common Shares (ii) the Conversion Shares issued or issuable upon
conversion of the Preferred Shares, (iii) the Warrant Shares issued or issuable upon exercise of the Warrants and (iv) any capital
stock of the Company issued or issuable, with respect to the Common Shares, the Conversion Shares, the Preferred Shares, the Warrant
Shares or the Warrants as a result of any stock split, stock dividend, recapitalization, exchange or similar event or otherwise,
without regard to any limitations on conversion of the Preferred Shares or exercise of the Warrants.

 

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(v)
“Initial Registration Statement” means a registration statement or registration statements of the Company filed
under the 1933 Act covering the resale of Initial Registrable Securities.

 

(w)
“Initial Required Registration Amount” means the sum of (i) the number of Common Shares issued, (ii) the maximum
number of Conversion Shares issued and issuable pursuant to the Preferred Shares and (iii) the maximum number of Warrant Shares
issued and issuable pursuant to the Warrants, in each case as of the Trading Day immediately preceding the applicable date of
determination, subject to adjustment as provided in Section 2(f), without regard to any limitations on the issuance of Common
Stock pursuant to the terms of the Preferred Shares or exercise of the Warrants.

 

(x)
“Investor” means a Buyer or any transferee or assignee thereof to whom a Buyer assigns its rights under this
Agreement and who agrees to become bound by the provisions of this Agreement in accordance with Section 9 and any transferee or
assignee thereof to whom a transferee or assignee assigns its rights under this Agreement and who agrees to become bound by the
provisions of this Agreement in accordance with Section 9.

 

(y)
“Person” means an individual, a limited liability company, a partnership, a joint venture, a corporation, a trust,
an unincorporated organization and a government or any department or agency thereof.

 

(z)
“Principal Market” means the OTC QB.

 

(aa)   
“register,” “registered,” and “registration” refer to a registration effected
by preparing and filing one or more Registration Statements (as defined below) in compliance with the 1933 Act and pursuant to
Rule 415, and the declaration or ordering of effectiveness of such Registration Statement(s) by the SEC.

 

(bb)
“Registrable Securities” means the Initial Registrable Securities and the Additional Registrable Securities,
provided that, securities will not be deemed to be Registrable Securities at any time during which they may be sold pursuant to
Rule 144(c)(1) and without any volume limitations under Rule 144.

 

(cc)   
“Registration Statement” means the Initial Registration Statement and the Additional Registration Statement,
as applicable.

 

(dd)
“Required Holders” means the holders of at least a majority of the Registrable Securities.

 

(ee)   
“Required Registration Amount” means either the Initial Required Registration Amount or the Additional Required
Registration Amount, as applicable.

 

(ff)
“Rule 415” means Rule 415 promulgated under the 1933 Act or any successor rule providing for offering securities
on a continuous or delayed basis.

 

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

 

(hh)
“Trading Day” means any day on which the Common Stock is traded on the Principal Market, or, if the Principal
Market is not the principal trading market for the Common Stock on such day, then on the principal securities exchange or securities
market on which the Common Stock is then traded.

 

2.
Registration.

 

(a)
Initial Mandatory Registration. The Company shall prepare, and, as soon as practicable but in no event later than the Initial
Filing Deadline, file with the SEC the Initial Registration Statement on Form S-3 or if Form S-3 is unavailable, Form S-1, covering
the resale of all of the Initial Registrable Securities. The Initial Registration Statement prepared pursuant hereto shall register
for resale at least the number of shares of Common Stock equal to the Initial Required Registration Amount determined as of the
date the Initial Registration Statement is initially filed with the SEC, subject to adjustment as provided in Section 2(f). The
Initial Registration Statement shall contain (except if otherwise directed by the Required Holders) the “Plan of Distribution”
and “Selling Stockholders” sections in substantially the form attached hereto as Exhibit B. The Company
shall use its best efforts to have the Initial Registration Statement declared effective by the SEC as soon as practicable, but
in no event later than the Initial Effectiveness Deadline. By 9:30 a.m. New York time on the Business Day following the Initial
Effective Date, the Company shall file with the SEC in accordance with Rule 424 under the 1933 Act the final prospectus to be
used in connection with sales pursuant to such Initial Registration Statement.

 

(b)
Additional Mandatory Registrations. The Company shall prepare, and, as soon as practicable but in no event later than the
Additional Filing Deadline, file with the SEC an Additional Registration Statement on Form S-3, or if Form S-3 is unavailable,
Form S-1, covering the resale of all of the Additional Registrable Securities not previously registered on an Additional Registration
Statement hereunder. To the extent the staff of the SEC does not permit the Additional Required Registration Amount to be registered
on an Additional Registration Statement, the Company shall file Additional Registration Statements successively trying to register
on each such Additional Registration Statement the maximum number of remaining Additional Registrable Securities until the Additional
Required Registration Amount has been registered with the SEC. Each Additional Registration Statement prepared pursuant hereto
shall register for resale at least that number of shares of Common Stock equal to the Additional Required Registration Amount
determined as of the date such Additional Registration Statement is initially filed with the SEC, subject to adjustment as provided
in Section 2(f). Each Additional Registration Statement shall contain (except if otherwise directed by the Required Holders) the
“Plan of Distribution” and “Selling Stockholders” sections in substantially the form attached
hereto as Exhibit B. The Company shall use its best efforts to have each Additional Registration Statement declared effective
by the SEC as soon as practicable, but in no event later than the Additional Effectiveness Deadline. By 9:30 a.m. New York time
on the Business Day following the Additional Effective Date, the Company shall file with the SEC in accordance with Rule 424 under
the 1933 Act the final prospectus to be used in connection with sales pursuant to such Additional Registration Statement.

 

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(c)
Allocation of Registrable Securities. The initial number of Registrable Securities included in any Registration Statement
and any increase or decrease in the number of Registrable Securities included therein shall be allocated pro rata among the Investors
based on the number of Registrable Securities held by each Investor at the time the Registration Statement covering such initial
number of Registrable Securities or increase or decrease thereof is declared effective by the SEC. In the event that an Investor
sells or otherwise transfers any of such Investor’s Registrable Securities, each transferee shall be allocated a pro rata portion
of the then remaining number of Registrable Securities included in such Registration Statement for such transferor. Any shares
of Common Stock included in a Registration Statement and which remain allocated to any Person which ceases to hold any Registrable
Securities covered by such Registration Statement shall be allocated to the remaining Investors, pro rata based on the number
of Registrable Securities then held by such Investors which are covered by such Registration Statement. In no event shall the
Company include any securities other than Registrable Securities on any Registration Statement without the prior written consent
of the Required Holders.

 

(d)
Legal Counsel. Subject to Section 5 hereof, the Lead Investor shall have the right to select one legal counsel to review
and oversee any registration pursuant to this Section 2 (“Legal Counsel”), which shall be Schulte Roth &
Zabel LLP or such other counsel as thereafter designated by the Lead Investor. The Company shall be responsible for the fees and
expenses of Legal Counsel, which amount shall be limited to $10,000 without the prior written consent of the Company. The Company
and Legal Counsel shall reasonably cooperate with each other in performing the Company’s obligations under this Agreement.

 

(e)
Ineligibility for Form S-3. In the event that Form S-3 is not available for the registration of the resale of Registrable
Securities hereunder, the Company shall (i) register the resale of the Registrable Securities on Form S-1 or another appropriate
form reasonably acceptable to the Required Holders and (ii) undertake to register the Registrable Securities on Form S-3 as soon
as such form is available, provided that the Company shall maintain the effectiveness of the Registration Statement then in effect
until such time as a Registration Statement on Form S-3 covering the Registrable Securities has been declared effective by the
SEC.

 

(f)
Sufficient Number of Shares Registered. In the event the number of shares available under a Registration Statement filed
pursuant to Section 2(a) or Section 2(b) is insufficient to cover the Required Registration Amount of Registrable Securities required
to be covered by such Registration Statement or an Investor’s allocated portion of the Registrable Securities pursuant to Section
2(c), the Company shall amend the applicable Registration Statement, or file a new Registration Statement (on the short form available
therefor, if applicable), or both, so as to cover at least the Required Registration Amount as of the Trading Day immediately
preceding the date of the filing of such amendment or new Registration Statement, in each case, as soon as practicable, but in
any event not later than fifteen (15) days after the necessity therefor arises. The Company shall use its best efforts to cause
such amendment and/or new Registration Statement to become effective as soon as practicable following the filing thereof. For
purposes of the foregoing provision, the number of shares available under a Registration Statement shall be deemed “insufficient
to cover all of the Registrable Securities” if at any time the number of shares of Common Stock available for resale under
the Registration Statement is less than the product determined by multiplying (i) the Required Registration Amount as of such
time by (ii) 0.90. The calculation set forth in the foregoing sentence shall be made without regard to any limitations on conversion
of the Preferred Shares or exercise of the Warrants and such calculation shall assume that the Preferred Shares are then convertible
into shares of Common Stock at the then prevailing Conversion Rate (as defined in the Certificate of Designations) and the Warrants
are then exercisable for shares of Common Stock at the then prevailing Exercise Price (as defined in the Warrants).

 

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(g)
Effect of Failure to File and Obtain and Maintain Effectiveness of Registration Statement. If (i) the Initial Registration
Statement when declared effective fails to register the Initial Required Registration Amount of Initial Registrable Securities
(a “Registration Failure”), (ii) a Registration Statement covering all of the Registrable Securities required
to be covered thereby and required to be filed by the Company pursuant to this Agreement is (A) not filed with the SEC on or before
the applicable Filing Deadline (a “Filing Failure”) or (B) not declared effective by the SEC on or before the
applicable Effectiveness Deadline, (an “Effectiveness Failure”) or (iii) on any day after the applicable Effective
Date sales of all of the Registrable Securities required to be included on such Registration Statement cannot be made (other than
during an Allowable Grace Period (as defined in Section 3(r)) pursuant to such Registration Statement or otherwise (including,
without limitation, because of the suspension of trading or any other limitation imposed by an Eligible Market, a failure to keep
such Registration Statement effective, a failure to disclose such information as is necessary for sales to be made pursuant to
such Registration Statement, a failure to register a sufficient number of shares of Common Stock or a failure to maintain the
listing of the Common Stock) (a “Maintenance Failure”) then, as partial relief for the damages to any holder
by reason of any such delay in or reduction of its ability to sell the underlying shares of Common Stock (which remedy shall not
be exclusive of any other remedies available at law or in equity, including, without limitation, specific performance or the additional
obligation of the Company to register any Cutback Shares), the Company shall pay to each holder of Registrable Securities relating
to such Registration Statement an amount in cash equal to two percent (2.0%) of the aggregate Purchase Price (as such term is
defined in the Securities Purchase Agreement), up to a maximum of 10% of the Purchase Price, of such Investor’s Registrable Securities
(solely with respect to such Registrable Securities that are not included in an effective Registration Statement on each of the
following dates: (i) the day of a Registration Failure, (ii) the day of a Filing Failure; (iii) the day of an Effectiveness Failure;
(iv) the initial day of a Maintenance Failure; (v) on the thirtieth day after the date of a Registration Failure and every thirtieth
day thereafter (pro rated for periods totaling less than thirty days) until such Registration Failure is cured, (vi) on the thirtieth
day after the date of a Filing Failure and every thirtieth day thereafter (pro rated for periods totaling less than thirty days)
until such Filing Failure is cured; (vii) on the thirtieth day after the date of an Effectiveness Failure and every thirtieth
day thereafter (pro rated for periods totaling less than thirty days) until such Effectiveness Failure is cured; and (viii) on
the thirtieth day after the initial date of a Maintenance Failure and every thirtieth day thereafter (pro rated for periods totaling
less than thirty days) until such Maintenance Failure is cured. The payments to which a holder shall be entitled pursuant to this
Section 2(g) are referred to herein as “Registration Delay Payments.” Registration Delay Payments shall be paid
on the earlier of (I) the dates set forth above and (II) the third Business Day after the event or failure giving rise to the
Registration Delay Payments is cured. In the event the Company fails to make Registration Delay Payments in a timely manner, such
Registration Delay Payments shall bear interest at the rate of one and one-half percent (1.5%) per month (prorated for partial
months) until paid in full. For the avoidance of doubt, the Company will not owe any Registration Delay Payments with respect
to any securities that are not deemed to be Registrable Securities because they may be sold without volume limitations under Rule
144.

 

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3.
Related Obligations.

 

At
such time as the Company is obligated to file a Registration Statement with the SEC pursuant to Section 2(a), 2(b), 2(e) or 2(f),
the Company will use its best efforts to effect the registration of the Registrable Securities in accordance with the intended
method of disposition thereof and, pursuant thereto, the Company shall have the following obligations:

 

(a)
The Company shall promptly prepare and file with the SEC a Registration Statement with respect to the Registrable Securities and
use its best efforts to cause such Registration Statement relating to the Registrable Securities to become effective as soon as
practicable after such filing (but in no event later than the Effectiveness Deadline). The Company shall keep each Registration
Statement effective pursuant to Rule 415 at all times until the earlier of (i) the date as of which the Investors may sell all
of the Registrable Securities covered by such Registration Statement without restriction or limitation pursuant to Rule 144 and
without the requirement to be in compliance with Rule 144(c)(1) (or any successor thereto) promulgated under the 1933 Act or (ii)
the date on which the Investors shall have sold all of the Registrable Securities covered by such Registration Statement (the
“Registration Period”). The Company shall ensure that each Registration Statement (including any amendments or
supplements thereto and prospectuses contained therein) shall not contain any untrue statement of a material fact or omit to state
a material fact required to be stated therein, or necessary to make the statements therein (in the case of prospectuses, in the
light of the circumstances in which they were made) not misleading. The term “best efforts” shall mean, among other
things, that the Company shall submit to the SEC, within two (2) Business Days after the later of the date that (i) the Company
learns that no review of a particular Registration Statement will be made by the staff of the SEC or that the staff has no further
comments on a particular Registration Statement, as the case may be, and (ii) the approval of Legal Counsel pursuant to Section
3(c) (which approval is immediately sought), a request for acceleration of effectiveness of such Registration Statement to a time
and date not later than two (2) Business Days after the submission of such request. The Company shall respond in writing to comments
made by the SEC in respect of a Registration Statement as soon as practicable, but in no event later than fifteen (15) days after
the receipt of comments by or notice from the SEC that an amendment is required in order for a Registration Statement to be declared
effective.

 

(b)
The Company shall prepare and file with the SEC such amendments (including post-effective amendments) and supplements to a Registration
Statement and the prospectus used in connection with such Registration Statement, which prospectus is to be filed pursuant to
Rule 424 promulgated under the 1933 Act, as may be necessary to keep such Registration Statement effective at all times during
the Registration Period, and, during such period, comply with the provisions of the 1933 Act with respect to the disposition of
all Registrable Securities of the Company covered by such Registration Statement until such time as all of such Registrable Securities
shall have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof as set forth
in such Registration Statement. In the case of amendments and supplements to a Registration Statement which are required to be
filed pursuant to this Agreement (including pursuant to this Section 3(b)) by reason of the Company filing a report on Form 10-K,
Form 10-Q or Form 8-K or any analogous report under the Securities Exchange Act of 1934, as amended (the “1934 Act”),
the Company shall have incorporated such report by reference into such Registration Statement, if applicable, or shall file such
amendments or supplements with the SEC on the same day on which the 1934 Act report is filed which created the requirement for
the Company to amend or supplement such Registration Statement.

 

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(c)
The Company shall (A) permit Legal Counsel to review and comment upon (i) a Registration Statement at least five (5) Business
Days prior to its filing with the SEC and (ii) all amendments and supplements to all Registration Statements (except for Annual
Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and any similar or successor reports) within
a reasonable number of days prior to their filing with the SEC, and (B) not file any Registration Statement or amendment or supplement
thereto in a form to which Legal Counsel reasonably objects. In addition, if requested by a Buyer, the Company shall permit each
such Buyer to review and comment on the Selling Stockholder section of each Registration Statement and all amendments and supplements
to all Registration Statements at least two Business Days prior to its filing with the SEC. The Company shall not submit a request
for acceleration of the effectiveness of a Registration Statement or any amendment or supplement thereto without the prior approval
of Legal Counsel, which consent shall not be unreasonably withheld. The Company shall furnish to Legal Counsel, without charge,
(i) copies of any correspondence from the SEC or the staff of the SEC to the Company or its representatives relating to any Registration
Statement, (ii) promptly after the same is prepared and filed with the SEC, one copy of any Registration Statement and any amendment(s)
thereto, including financial statements and schedules, all documents incorporated therein by reference, if requested by an Investor,
and all exhibits and (iii) upon the effectiveness of any Registration Statement, one copy of the prospectus included in such Registration
Statement and all amendments and supplements thereto. The Company shall reasonably cooperate with Legal Counsel in performing
the Company’s obligations pursuant to this Section 3.

 

(d)
The Company shall furnish to each Investor whose Registrable Securities are included in any Registration Statement, without charge,
following request of such Investor, (i) promptly after the same is prepared and filed with the SEC, at least one copy of such
Registration Statement and any amendment(s) thereto, including financial statements and schedules, if requested by an Investor,
all exhibits and each preliminary prospectus (which may be delivered by email), (ii) upon the effectiveness of any Registration
Statement, one copy of the prospectus included in such Registration Statement and all amendments and supplements thereto (which
may be delivered by email) and (iii) such other documents, including copies of any preliminary or final prospectus, as such Investor
may reasonably request from time to time in order to facilitate the disposition of the Registrable Securities owned by such Investor.

 

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(e)
The Company shall use its best efforts to (i) register and qualify, unless an exemption from registration and qualification applies,
the resale by Investors of the Registrable Securities covered by a Registration Statement under such other securities or “blue
sky” laws of all applicable jurisdictions in the United States, (ii) prepare and file in those jurisdictions such amendments
(including post-effective amendments) and supplements to such registrations and qualifications as may be necessary to maintain
the effectiveness thereof during the Registration Period, (iii) take such other actions as may be necessary to maintain such registrations
and qualifications in effect at all times during the Registration Period, and (iv) take all other actions reasonably necessary
or advisable to qualify the Registrable Securities for sale in such jurisdictions; provided, however, that the Company shall not
be required in connection therewith or as a condition thereto to (x) qualify to do business in any jurisdiction where it would
not otherwise be required to qualify but for this Section 3(e), (y) subject itself to general taxation in any such jurisdiction,
or (z) file a general consent to service of process in any such jurisdiction. The Company shall promptly notify Legal Counsel
and each Investor who holds Registrable Securities of the receipt by the Company of any notification with respect to the suspension
of the registration or qualification of any of the Registrable Securities for sale under the securities or “blue sky”
laws of any jurisdiction in the United States or its receipt of actual notice of the initiation or threatening of any proceeding
for such purpose.

 

(f)   
The Company shall notify Legal Counsel and each Investor in writing of the happening of any event, as promptly as practicable
after becoming aware of such event but in any event on the same Trading Day as such event, as a result of which the prospectus
included in a Registration Statement, as then in effect, includes an untrue statement of a material fact or omission to state
a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under
which they were made, not misleading (provided that in no event shall such notice contain any material, nonpublic information),
and, subject to Section 3(r), promptly prepare a supplement or amendment to such Registration Statement to correct such untrue
statement or omission, and deliver, following request of an Investor, one copy of such supplement or amendment to Legal Counsel
and each Investor (which may be delivered by email). The Company shall also promptly notify Legal Counsel and each Investor in
writing (i) when a prospectus or any prospectus supplement or post-effective amendment has been filed, and when a Registration
Statement or any post-effective amendment has become effective (notification of such effectiveness shall be delivered to Legal
Counsel and each Investor by facsimile or email on the same day of such effectiveness), (ii) of any request by the SEC for amendments
or supplements to a Registration Statement or related prospectus or related information and (iii) of the Company’s reasonable
determination that a post-effective amendment to a Registration Statement would be appropriate. By 9:30 a.m. New York City time
on the date following the date any post-effective amendment has become effective, the Company shall file with the SEC in accordance
with Rule 424 under the 1933 Act the final prospectus to be used in connection with sales pursuant to such Registration Statement.

 

(g)
The Company shall use its best efforts to prevent the issuance of any stop order or other suspension of effectiveness of a Registration
Statement, or the suspension of the qualification of any of the Registrable Securities for sale in any jurisdiction and, if such
an order or suspension is issued, to obtain the withdrawal of such order or suspension at the earliest possible moment and to
promptly, but in no event later than the Trading Day of such issuance, notify Legal Counsel and each Investor who holds Registrable
Securities of the issuance of such order or suspension and the resolution thereof or its receipt of actual notice of the initiation
or threat of any proceeding for such purpose.

 

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(h)
Reserved..

 

(i)
If any Investor is required under applicable securities laws to be described in the Registration Statement as an underwriter or
an Investor believes that it could reasonably be deemed to be an underwriter of Registrable Securities, the Company shall make
available for inspection by (i) such Investor, (ii) Legal Counsel and (iii) one firm of accountants or other agents retained by
the Investors (collectively, the “Inspectors”), all pertinent financial and other records, and pertinent corporate
documents and properties of the Company (collectively, the “Records”), as shall be reasonably deemed necessary
by each Inspector, and cause the Company’s officers, directors and employees to supply all information which any Inspector may
reasonably request; provided, however, that each Inspector shall agree to hold in strict confidence and shall not make any disclosure
(except to an Investor) or use of any Record or other information which the Company determines in good faith to be confidential,
and of which determination the Inspectors are so notified, unless (a) the disclosure of such Records is necessary to avoid or
correct a misstatement or omission in any Registration Statement or is otherwise required under the 1933 Act, (b) the release
of such Records is ordered pursuant to a final, non-appealable subpoena or order from a court or government body of competent
jurisdiction, or (c) the information in such Records has been made generally available to the public other than by disclosure
in violation of this Agreement. Each Investor agrees that it shall, upon learning that disclosure of such Records is sought in
or by a court or governmental body of competent jurisdiction or through other means, give prompt notice to the Company and allow
the Company, at its expense, to undertake appropriate action to prevent disclosure of, or to obtain a protective order for, the
Records deemed confidential. Nothing herein (or in any other confidentiality agreement between the Company and any Investor) shall
be deemed to limit the Investors’ ability to sell Registrable Securities in a manner which is otherwise consistent with applicable
laws and regulations.

 

(j)
The Company shall hold in confidence and not make any disclosure of information concerning an Investor provided to the Company
unless (i) disclosure of such information is necessary to comply with federal or state securities laws, (ii) the disclosure of
such information is necessary to avoid or correct a misstatement or omission in any Registration Statement, (iii) the release
of such information is ordered pursuant to a subpoena or other final, non-appealable order from a court or governmental body of
competent jurisdiction, or (iv) such information has been made generally available to the public other than by disclosure in violation
of this Agreement or any other agreement. The Company agrees that it shall, upon learning that disclosure of such information
concerning an Investor is sought in or by a court or governmental body of competent jurisdiction or through other means, give
prompt written notice to such Investor and allow such Investor, at the Investor’s expense, to undertake appropriate action to
prevent disclosure of, or to obtain a protective order for, such information.

 

(k)
The Company shall use its best efforts either to (i) cause all of the Registrable Securities covered by a Registration Statement
to be listed on each securities exchange on which securities of the same class or series issued by the Company are then listed,
if any, if the listing of such Registrable Securities is then permitted under the rules of such exchange or (ii) secure the inclusion
for quotation of all of the Registrable Securities on the OTC QB or (iii) if, despite the Company’s best efforts, the Company
is unsuccessful in satisfying the preceding clauses (i) and (ii), to secure the inclusion for quotation on an Eligible Market
for such Registrable Securities and, without limiting the generality of the foregoing, to use its best efforts to arrange for
at least two market makers to register with the Financial Industry Regulatory Authority, Inc. (“FINRA”) as such
with respect to such Registrable Securities. The Company shall pay all fees and expenses in connection with satisfying its obligation
under this Section 3(k).

 

    11

     

    

 

(l)
The Company shall cooperate with the Investors who hold Registrable Securities being offered and, to the extent applicable, facilitate
the timely preparation and delivery of certificates (not bearing any restrictive legend) representing the Registrable Securities
to be offered pursuant to a Registration Statement and enable such certificates to be in such denominations or amounts, as the
case may be, as the Investors may reasonably request and registered in such names as the Investors may request.

 

(m)
If requested by an Investor, the Company shall as soon as practicable (i) incorporate in a prospectus supplement or post-effective
amendment such information as an Investor reasonably requests to be included therein relating to the sale and distribution of
Registrable Securities, including, without limitation, information with respect to the number of Registrable Securities being
offered or sold, the purchase price being paid therefor and any other terms of the offering of the Registrable Securities to be
sold in such offering; (ii) make all required filings of such prospectus supplement or post-effective amendment after being notified
of the matters to be incorporated in such prospectus supplement or post-effective amendment; and (iii) supplement or make amendments
to any Registration Statement if reasonably requested by an Investor holding any Registrable Securities.

 

(n)
The Company shall use its best efforts to cause the Registrable Securities covered by a Registration Statement to be registered
with or approved by such other governmental agencies or authorities as may be necessary to consummate the disposition of such
Registrable Securities.

 

(o)
The Company shall make generally available to its security holders as soon as practical, but not later than ninety (90) days after
the close of the period covered thereby, an earnings statement (in form complying with, and in the manner provided by, the provisions
of Rule 158 under the 1933 Act) covering a twelve-month period beginning not later than the first day of the Company’s fiscal
quarter next following the applicable Effective Date of a Registration Statement.

 

(p)
The Company shall otherwise use its best efforts to comply with all applicable rules and regulations of the SEC in connection
with any registration hereunder.

 

(q)
Within two (2) Business Days after a Registration Statement which covers Registrable Securities is declared effective by the SEC,
the Company shall deliver, and shall cause legal counsel for the Company to deliver, to the transfer agent for such Registrable
Securities (with copies to the Investors whose Registrable Securities are included in such Registration Statement) confirmation
that such Registration Statement has been declared effective by the SEC in the form attached hereto as Exhibit A.

 

    12

     

    

 

(r)
Notwithstanding anything to the contrary herein, at any time after the Effective Date, the Company may delay the disclosure of
material, non-public information concerning the Company the disclosure of which at the time is not, in the good faith opinion
of the Board of Directors of the Company and its counsel, in the best interest of the Company and, in the opinion of counsel to
the Company, otherwise required (a “Grace Period”); provided, that the Company shall promptly (i) notify the
Investors in writing of the existence of material, non-public information giving rise to a Grace Period (provided that in each
notice the Company will not disclose the content of such material, non-public information to the Investors) and the date on which
the Grace Period will begin, and (ii) notify the Investors in writing of the date on which the Grace Period ends; and, provided
further, that no Grace Period shall exceed five (5) consecutive days and during any three hundred sixty five (365) day period
such Grace Periods shall not exceed an aggregate of twenty (20) days and the first day of any Grace Period must be at least five
(5) Trading Days after the last day of any prior Grace Period (each, an “Allowable Grace Period”). For purposes
of determining the length of a Grace Period above, the Grace Period shall begin on and include the date the Investors receive
the notice referred to in clause (i) and shall end on and include the later of the date the Investors receive the notice referred
to in clause (ii) and the date referred to in such notice. The provisions of Section 3(g) hereof shall not be applicable during
the period of any Allowable Grace Period. Upon expiration of the Grace Period, the Company shall again be bound by the first sentence
of Section 3(f) with respect to the information giving rise thereto unless such material, non-public information is no longer
applicable. Notwithstanding anything to the contrary, the Company shall cause its transfer agent to deliver unlegended shares
of Common Stock to a transferee of an Investor in accordance with the terms of the Securities Purchase Agreement in connection
with any sale of Registrable Securities with respect to which an Investor has entered into a contract for sale, prior to the Investor’s
receipt of the notice of a Grace Period and for which the Investor has not yet settled.

 

(s)   
Neither the Company nor any Subsidiary or affiliate thereof shall identify any Investor as an underwriter in any public disclosure
or filing with the SEC, the Principal Market or any Eligible Market and any Investor being deemed an underwriter by the SEC shall
not relieve the Company of any obligations it has under this Agreement or any other Transaction Document (as defined in the Securities
Purchase Agreement); provided, however, that the foregoing shall not prohibit the Company from including the disclosure
found in the “Plan of Distribution” section attached hereto as Exhibit B in the Registration Statement.

 

(t)
Neither the Company nor any of its Subsidiaries has entered, as of the date hereof, nor shall the Company or any of its Subsidiaries,
on or after the date of this Agreement, enter into any agreement with respect to its securities, that would have the effect of
impairing the rights granted to the Buyers in this Agreement or otherwise conflicts with the provisions hereof.

 

4.
Obligations of the Investors.

 

(a)
At least five (5) Business Days prior to the first anticipated Filing Date of a Registration Statement, the Company shall notify
each Investor in writing of the information the Company requires from each such Investor if such Investor elects to have any of
such Investor’s Registrable Securities included in such Registration Statement. It shall be a condition precedent to the obligations
of the Company to complete any registration pursuant to this Agreement with respect to the Registrable Securities of a particular
Investor that such Investor shall furnish to the Company such information regarding itself, the Registrable Securities held by
it and the intended method of disposition of the Registrable Securities held by it as shall be reasonably required to effect and
maintain the effectiveness of the registration of such Registrable Securities and shall execute such documents in connection with
such registration as the Company may reasonably request.

 

    13

     

    

 

(b)
Each Investor, by such Investor’s acceptance of the Registrable Securities, agrees to cooperate with the Company as reasonably
requested by the Company in connection with the preparation and filing of any Registration Statement hereunder, unless such Investor
has notified the Company in writing of such Investor’s election to exclude all of such Investor’s Registrable Securities from
such Registration Statement.

 

(c)
Each Investor agrees that, upon receipt of any notice from the Company of the happening of any event of the kind described in
Section 3(g) or the first sentence of Section 3(f), such Investor will immediately discontinue disposition of Registrable Securities
pursuant to any Registration Statement(s) covering such Registrable Securities until such Investor’s receipt of copies of the
supplemented or amended prospectus as contemplated by Section 3(g) or the first sentence of Section 3(f) or receipt of notice
that no supplement or amendment is required. Notwithstanding anything to the contrary, the Company shall cause its transfer agent
to deliver unlegended shares of Common Stock to a transferee of an Investor in accordance with the terms of the Securities Purchase
Agreement in connection with any sale of Registrable Securities with respect to which an Investor has entered into a contract
for sale prior to the Investor’s receipt of a notice from the Company of the happening of any event of the kind described in Section
3(g) or the first sentence of Section 3(f) and for which the Investor has not yet settled.

 

(d)
Each Investor covenants and agrees that it will comply with the prospectus delivery requirements of the 1933 Act as applicable
to it or an exemption therefrom in connection with sales of Registrable Securities pursuant to the Registration Statement.

 

5.
Expenses of Registration.

 

All
reasonable expenses, other than underwriting discounts and commissions, incurred in connection with registrations, filings or
qualifications pursuant to Sections 2 and 3, including, without limitation, all registration, listing and qualifications fees,
printers and accounting fees, and fees and disbursements of counsel for the Company shall be paid by the Company.

 

    14

     

    

 

6.
Indemnification.

 

In
the event any Registrable Securities are included in a Registration Statement under this Agreement:

 

(a)
To the fullest extent permitted by law, the Company will, and hereby does, indemnify, hold harmless and defend each Investor,
the directors, officers, partners, members, employees, agents, representatives of, and each Person, if any, who controls any Investor
within the meaning of the 1933 Act or the 1934 Act (each, an “Indemnified Person”), against any losses, claims,
damages, liabilities, judgments, fines, penalties, charges, costs, reasonable attorneys’ fees, amounts paid in settlement or expenses,
joint or several (collectively, “Claims”), incurred in investigating, preparing or defending any action, claim,
suit, inquiry, proceeding, investigation or appeal taken from the foregoing by or before any court or governmental, administrative
or other regulatory agency, body or the SEC, whether pending or threatened, whether or not an indemnified party is or may be a
party thereto (“Indemnified Damages”), to which any of them may become subject insofar as such Claims (or actions
or proceedings, whether commenced or threatened, in respect thereof) arise out of or are based upon: (i) any untrue statement
or alleged untrue statement of a material fact in a Registration Statement or any post-effective amendment thereto or in any filing
made in connection with the qualification of the offering under the securities or other “blue sky” laws of any jurisdiction
in which Registrable Securities are offered (“Blue Sky Filing”), or the omission or alleged omission to state
a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) any untrue statement
or alleged untrue statement of a material fact contained in any preliminary prospectus if used prior to the effective date of
such Registration Statement, or contained in the final prospectus (as amended or supplemented, if the Company files any amendment
thereof or supplement thereto with the SEC) or the omission or alleged omission to state therein any material fact necessary to
make the statements made therein, in light of the circumstances under which the statements therein were made, not misleading,
(iii) any violation or alleged violation by the Company of the 1933 Act, the 1934 Act, any other law, including, without limitation,
any state securities law, or any rule or regulation thereunder relating to the offer or sale of the Registrable Securities pursuant
to a Registration Statement or (iv) any violation of this Agreement (the matters in the foregoing clauses (i) through (iv) being,
collectively, “Violations”). Subject to Section 6(c), the Company shall reimburse the Indemnified Persons, promptly
as such expenses are incurred and are due and payable, for any legal fees or other reasonable expenses incurred by them in connection
with investigating or defending any such Claim. Notwithstanding anything to the contrary contained herein, the indemnification
agreement contained in this Section 6(a): (i) shall not apply to a Claim by an Indemnified Person arising out of or based upon
a Violation which occurs in reliance upon and in conformity with information furnished in writing to the Company by such Indemnified
Person for such Indemnified Person expressly for use in connection with the preparation of the Registration Statement or any such
amendment thereof or supplement thereto, if such prospectus was timely made available by the Company pursuant to Section 3(d);
(ii) shall not apply to amounts paid in settlement of any Claim if such settlement is effected without the prior written consent
of the Company, which consent shall not be unreasonably withheld or delayed and (iii) shall not apply to Claims based solely upon
any conduct by such Indemnified Person which is finally judicially determined to constitute fraud, gross negligence, willful misconduct
or malfeasance. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of the
Indemnified Person and shall survive the transfer of the Registrable Securities by the Investors pursuant to Section 9.

 

    15

     

    

 

(b)
In connection with any Registration Statement in which an Investor is participating, each such Investor agrees to severally and
not jointly indemnify, hold harmless and defend, to the same extent and in the same manner as is set forth in Section 6(a), the
Company, each of its directors, each of its officers who signs the Registration Statement and each Person, if any, who controls
the Company within the meaning of the 1933 Act or the 1934 Act (each, an “Indemnified Party”), against any Claim
or Indemnified Damages to which any of them may become subject, under the 1933 Act, the 1934 Act or otherwise, insofar as such
Claim or Indemnified Damages arise out of or are based upon any Violation, in each case to the extent, and only to the extent,
that such Violation occurs in reliance upon and in conformity with written information furnished to the Company by such Investor
expressly for use in connection with such Registration Statement; and, subject to Section 6(c), such Investor shall reimburse
the Indemnified Party for any legal or other expenses reasonably incurred by an Indemnified Party in connection with investigating
or defending any such Claim; provided, however, that the indemnity agreement contained in this Section 6(b) and the agreement
with respect to contribution contained in Section 7 shall not apply to amounts paid in settlement of any Claim if such settlement
is effected without the prior written consent of such Investor, which consent shall not be unreasonably withheld or delayed; provided,
further, however, that the Investor shall be liable under this Section 6(b) for only that amount of a Claim or Indemnified Damages
as does not exceed the net proceeds to such Investor as a result of the sale of Registrable Securities pursuant to such Registration
Statement. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of such Indemnified
Party and shall survive the transfer of the Registrable Securities by the Investors pursuant to Section 9.

 

(c)
Promptly after receipt by an Indemnified Person or Indemnified Party under this Section 6 of notice of the commencement of any
action or proceeding (including any governmental action or proceeding) involving a Claim, such Indemnified Person or Indemnified
Party shall, if a Claim in respect thereof is to be made against any indemnifying party under this Section 6, deliver to the indemnifying
party a written notice of the commencement thereof, and the indemnifying party shall have the right to participate in, and, to
the extent the indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume control of
the defense thereof with counsel mutually satisfactory to the indemnifying party and the Indemnified Person or the Indemnified
Party, as the case may be; provided, however, that an Indemnified Person or Indemnified Party shall have the right to retain its
own counsel with the fees and expenses of not more than one counsel for all such Indemnified Person or Indemnified Party to be
paid by the indemnifying party, if, in the reasonable opinion of counsel retained by the Indemnified Person or Indemnified Party,
as applicable, the representation by such counsel of the Indemnified Person or Indemnified Party, as the case may be, and the
indemnifying party would be inappropriate due to actual or potential differing interests between such Indemnified Person or Indemnified
Party and any other party represented by such counsel in such proceeding. In the case of an Indemnified Person, legal counsel
referred to in the immediately preceding sentence shall be selected by the Investors holding at least a majority in interest of
the Registrable Securities included in the Registration Statement to which the Claim relates. The Indemnified Party or Indemnified
Person shall reasonably cooperate with the indemnifying party in connection with any negotiation or defense of any such action
or Claim by the indemnifying party and shall furnish to the indemnifying party all information reasonably available to the Indemnified
Party or Indemnified Person which relates to such action or Claim. The indemnifying party shall keep the Indemnified Party or
Indemnified Person fully apprised at all times as to the status of the defense or any settlement negotiations with respect thereto.
No indemnifying party shall be liable for any settlement of any action, claim or proceeding effected without its prior written
consent, provided, however, that the indemnifying party shall not unreasonably withhold, delay or condition its consent. No indemnifying
party shall, without the prior written consent of the Indemnified Party or Indemnified Person, consent to entry of any judgment
or enter into any settlement or other compromise which does not include as an unconditional term thereof the giving by the claimant
or plaintiff to such Indemnified Party or Indemnified Person of a release from all liability in respect to such Claim or litigation
and such settlement shall not include any admission as to fault on the part of the Indemnified Party. Following indemnification
as provided for hereunder, the indemnifying party shall be subrogated to all rights of the Indemnified Party or Indemnified Person
with respect to all third parties, firms or corporations relating to the matter for which indemnification has been made. The failure
to deliver written notice to the indemnifying party within a reasonable time of the commencement of any such action shall not
relieve such indemnifying party of any liability to the Indemnified Person or Indemnified Party under this Section 6, except to
the extent that the indemnifying party is prejudiced in its ability to defend such action.

 

    16

     

    

 

(d)
The indemnification required by this Section 6 shall be made by periodic payments of the amount thereof during the course of the
investigation or defense, as and when bills are received or Indemnified Damages are incurred.

 

(e)
The indemnity agreements contained herein shall be in addition to (i) any cause of action or similar right of the Indemnified
Party or Indemnified Person against the indemnifying party or others, and (ii) any liabilities the indemnifying party may be subject
to pursuant to the law.

 

7.
Contribution.

 

To
the extent any indemnification by an indemnifying party is prohibited or limited by law, the indemnifying party agrees to make
the maximum contribution with respect to any amounts for which it would otherwise be liable under Section 6 to the fullest extent
permitted by law; provided, however, that: (i) no Person involved in the sale of Registrable Securities which Person is guilty
of fraudulent misrepresentation (within the meaning of Section 11(f) of the 1933 Act) in connection with such sale shall be entitled
to contribution from any Person involved in such sale of Registrable Securities who was not guilty of fraudulent misrepresentation;
and (ii) contribution by any seller of Registrable Securities shall be limited in amount to the amount of net proceeds received
by such seller from the sale of such Registrable Securities pursuant to such Registration Statement.

 

8.
Reports Under the 1934 Act.

 

With
a view to making available to the Investors the benefits of Rule 144 promulgated under the 1933 Act or any other similar rule
or regulation of the SEC that may at any time permit the Investors to sell securities of the Company to the public without registration
(“Rule 144”), the Company agrees to, while any Investor owns any Registrable Securities:

 

(a)
make and keep public information available, as those terms are understood and defined in Rule 144;

 

(b)
file with the SEC in a timely manner all reports and other documents required of the Company under the 1933 Act and the 1934 Act
so long as the Company remains subject to such requirements and the filing of such reports and other documents is required for
the applicable provisions of Rule 144; and

 

(c)
furnish to each Investor so long as such Investor owns Registrable Securities, promptly upon request, (i) a written statement
by the Company, if true, that it has complied with the reporting requirements of Rule 144, the 1933 Act and the 1934 Act, (ii)
following request of such Investor, a copy of the most recent annual or quarterly report of the Company and such other reports
and documents so filed by the Company (which may be delivered by email) and (iii) such other information as may be reasonably
requested to permit the Investors to sell such securities pursuant to Rule 144 without registration.

 

    17

     

    

 

9.
Assignment of Registration Rights.

 

The
rights under this Agreement shall be automatically assignable by the Investors to any transferee of all or any portion of such
Investor’s Registrable Securities if: (i) the Investor agrees in writing with the transferee or assignee to assign such rights,
and a copy of such agreement is furnished to the Company within a reasonable time after such assignment; (ii) the Company is,
within a reasonable time after such transfer or assignment, furnished with written notice of (a) the name and address of such
transferee or assignee, and (b) the securities with respect to which such registration rights are being transferred or assigned;
(iii) immediately following such transfer or assignment the further disposition of such securities by the transferee or assignee
is restricted under the 1933 Act or applicable state securities laws; (iv) at or before the time the Company receives the written
notice contemplated by clause (ii) of this sentence the transferee or assignee agrees in writing with the Company to be bound
by all of the provisions contained herein; and (v) such transfer shall have been made in accordance with the applicable requirements
of the Securities Purchase Agreement.

 

10.
Amendment of Registration Rights.

 

Provisions
of this Agreement may be amended and the observance thereof may be waived (either generally or in a particular instance and either
retroactively or prospectively), only with the written consent of the Company and the Required Holders; provided that any such
amendment or waiver that complies with the foregoing but that disproportionately, materially and adversely affects the rights
and/or obligations of any Investor relative to the comparable rights and/or obligations of the other Investors shall require the
prior written consent of such adversely affected Investor. Any amendment or waiver effected in accordance with this Section 10
shall be binding upon each Investor and the Company. No such amendment shall be effective to the extent that it applies to less
than all of the holders of the Registrable Securities. No consideration shall be offered or paid to any Person to amend or consent
to a waiver or modification of any provision of this Agreement unless the same consideration (other than the reimbursement of
legal fees) also is offered to all of the parties to this Agreement.

 

11.
Miscellaneous.

 

(a)
A Person is deemed to be a holder of Registrable Securities whenever such Person owns or is deemed to own of record such Registrable
Securities. If the Company receives conflicting instructions, notices or elections from two or more Persons with respect to the
same Registrable Securities, the Company shall act upon the basis of instructions, notice or election received from such record
owner of such Registrable Securities.

 

    18

     

    

 

(b)
Any notices, consents, waivers or other communications required or permitted to be given under the terms of this Agreement must
be in writing and will be deemed to have been delivered: (i) upon receipt, when delivered personally; (ii) upon delivery, when
sent by facsimile (provided confirmation of transmission is mechanically or electronically generated and kept on file by the sending
party), (iii) upon delivery, when sent by electronic mail (provided
that the sending party does not receive an automated rejection notice); or (iv) one Business Day after deposit with a nationally
recognized overnight delivery service, in each case properly addressed to the party to receive the same. The addresses, facsimile
numbers and e-mail addresses for such communications shall be:

 

If
to the Company:

 

Wize
Pharma, Inc.

24
Hanagar Street

Hod
Hasharon 4527708

Israel

 

Telephone:972
(72) 260-0536

Facsimile:   972 (72) 260-0536

Attention:  Or Eisenberg

E-mail:
or@wizepharma.com

 

with
a copy (for informational purposes only) to:

Gregory
Sichenzia, Esq.

Sichenzia
Ross Ference LLP

1185 Avenue of the Americas,
37th Floor

New
York, NY 10036

Telephone:212-930-9700

Facsimile:   212-930-9725

E-mail:gsichenzia@srflawgroup.com

 

If
to the Transfer Agent:

 

VStock
Transfer LLC

18 Lafayette Place

Woodmere,
NY 11598

Telephone: 212-828-8436

Facsimile:
646-536-3179

Attention:
Yoel Goldfeder

E-mail:
yoel@vstocktransfer.com

 

If
to Legal Counsel:

 

Schulte
Roth & Zabel LLP

919
Third Avenue

New
York, New York 10022

Telephone:(212)
756-2000

Facsimile:  (212)
593-5955

Attention: Eleazer
Klein, Esq.

Email:
        eleazer.klein@srz.com

 

    19

     

    

 

If
to a Buyer, to its address, facsimile number or email address set forth on the Schedule of Buyers attached hereto, with copies
to such Buyer’s representatives as set forth on the Schedule of Buyers, or to such other address, facsimile number and/or email
address to the attention of such other Person as the recipient party has specified by written notice given to each other party
five (5) days prior to the effectiveness of such change. Written confirmation of receipt (A) given by the recipient of such notice,
consent, waiver or other communication, (B) mechanically or electronically generated by the sender’s facsimile machine or e-mail
transmission containing the time, date, recipient facsimile number or e-mail address and an image of the first page of such transmission
or (C) provided by a courier or overnight courier service shall be rebuttable evidence of personal service, receipt by facsimile
or receipt from a nationally recognized overnight delivery service in accordance with clause (i), (ii) or (iii) above, respectively.

 

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

 

(d)
All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by the
internal laws of the State of New York, without giving effect to any choice of law or conflict of law provision or rule (whether
of the State of New York or any other jurisdictions) that would cause the application of the laws of any jurisdictions other than
the State of New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting
in The City of New York, Borough of Manhattan, for the adjudication of any dispute hereunder or in connection herewith or with
any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit,
action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action
or proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper. Each party
hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding
by mailing a copy thereof to such party at the address for such notices to it under this Agreement and agrees that such service
shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit
in any way any right to serve process in any manner permitted by law. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY
HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION HEREWITH OR ARISING
OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

(e)
If any provision of this Agreement is prohibited by law or otherwise determined to be invalid or unenforceable by a court of competent
jurisdiction, the provision that would otherwise be prohibited, invalid or unenforceable shall be deemed amended to apply to the
broadest extent that it would be valid and enforceable, and the invalidity or unenforceability of such provision shall not affect
the validity of the remaining provisions of this Agreement so long as this Agreement as so modified continues to express, without
material change, the original intentions of the parties as to the subject matter hereof and the prohibited nature, invalidity
or unenforceability of the provision(s) in question does not substantially impair the respective expectations or reciprocal obligations
of the parties or the practical realization of the benefits that would otherwise be conferred upon the parties. The parties will
endeavor in good faith negotiations to replace the prohibited, invalid or unenforceable provision(s) with a valid provision(s),
the effect of which comes as close as possible to that of the prohibited, invalid or unenforceable provision(s).

 

    20

     

    

 

(f)
This Agreement, the other Transaction Documents (as defined in the Securities Purchase Agreement) and the instruments referenced
herein and therein constitute the entire agreement among the parties hereto with respect to the subject matter hereof and thereof.
There are no restrictions, promises, warranties or undertakings, other than those set forth or referred to herein and therein.
This Agreement, the other Transaction Documents and the instruments referenced herein and therein supersede all prior agreements
and understandings among the parties hereto with respect to the subject matter hereof and thereof.

 

(g)
Subject to the requirements of Section 9, this Agreement shall inure to the benefit of and be binding upon the permitted successors
and assigns of each of the parties hereto.

 

(h)
The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof.

 

(i)
This Agreement may be executed in identical counterparts, each of which shall be deemed an original but all of which shall constitute
one and the same agreement. This Agreement, once executed by a party, may be delivered to the other party hereto by facsimile
transmission of a copy of this Agreement bearing the signature of the party so delivering this Agreement.

 

(j)
Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall execute and deliver
all such other agreements, certificates, instruments and documents, as any 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.

 

(k)
All consents and other determinations required to be made by the Investors pursuant to this Agreement shall be made, unless otherwise
specified in this Agreement, by the Required Holders, determined as if all of the Preferred Shares and Warrants held by Investors
then outstanding have been exercised for Registrable Securities without regard to any limitations on conversion of the Preferred
Shares or exercise of the Warrants.

 

(l)
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.

 

(m)
This Agreement is intended for the benefit of the parties hereto and their respective permitted successors and assigns, and is
not for the benefit of, nor may any provision hereof be enforced by, any other Person.

 

    21

     

    

 

(n)
The obligations of each Investor hereunder are several and not joint with the obligations of any other Investor, and no provision
of this Agreement is intended to confer any obligations on any Investor vis-à-vis any other Investor. Nothing contained
herein, and no action taken by any Investor pursuant hereto, shall be deemed to constitute the Investors as a partnership, an
association, a joint venture or any other kind of entity, or create a presumption that the Investors are in any way acting in
concert or as a group with respect to such obligations or the transactions contemplated herein.

 

*
* * * * *

 

[Signature
Page Follows]

 

    22

     

    

 

IN
WITNESS WHEREOF, each Buyer and the Company have caused their respective signature page to this Registration Rights Agreement
to be duly executed as of the date first written above.

 

	 	COMPANY:

	 	 
	 	WIZE PHARMA, INC.
	 	 	 
	 	By:	

	 	 	Name:
    
	 	 	Title:

 

[Signature Page to Registration Rights Agreement]

 

     

     

    

 

IN
WITNESS WHEREOF, each Buyer and the Company have caused their respective signature page to this Registration Rights Agreement
to be duly executed as of the date first written above.

 

	 	BUYERS:

	 	 	 
	 	[BUYERS]
	 	 	 
	 	By:	
	 	 	Name:
	 	 	Title:

 

[Signature Page to Registration Rights Agreement]

 

     

     

    

 

SCHEDULE
OF BUYERS

 

	 

        Buyer
	 	Buyer
                                         Address, Facsimile Number

        and Email
	 	Buyer's
    Representative's Address, 

    Facsimile Number and Email
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

     

     

    

 

EXHIBIT
A

 

FORM
OF NOTICE OF EFFECTIVENESS

OF REGISTRATION STATEMENT

 

VStock
Transfer LLC

[                         
]

[                         
]

Telephone:[                       ]

Facsimile:
[                      ]

Attention:[
                     ]

E-mail:[
                     ]

 

Re:Wize
Pharma, Inc.

 

Ladies
and Gentlemen:

 

[We
are][I am] counsel Wize Pharma, Inc., a Delaware corporation (the “Company”), and have represented the Company
in connection with that certain Securities Purchase Agreement, dated as of October 22, 2018 (the “Securities Purchase
Agreement”), entered into by and among the Company and the buyers named therein (collectively, the “Holders”)
pursuant to which the Company issued to the Holders (i) shares (the “Common Shares”) of the Company’s common
stock, par value $0.001 per share (the “Common Stock”), (ii) shares of the Company’s Series A Convertible Preferred
Stock, par value $0.001 per share (the “Preferred Shares”) convertible into shares of Common Stock and (iii)
Series A and Series B warrants exercisable for shares of Common Stock (the “Warrants”). Pursuant to the Securities
Purchase Agreement, the Company also has entered into a Registration Rights Agreement with the Holders (the “Registration
Rights Agreement”) pursuant to which the Company agreed, among other things, to register the resale of the Registrable
Securities (as defined in the Registration Rights Agreement), including the Common Shares, the shares of Common Stock issuable
upon conversion of the Preferred Shares and the shares of Common Stock issuable upon exercise of the Warrants under the Securities
Act of 1933, as amended (the “1933 Act”). In connection with the Company’s obligations under the Registration
Rights Agreement, on ____________ ___, 2018, the Company filed a Registration Statement on Form S-3 (File No. 333-_____________)
(the “Registration Statement”) with the Securities and Exchange Commission (the “SEC”) relating
to the Registrable Securities which names each of the Holders as a selling stockholder thereunder.

 

In
connection with the foregoing, [we][I] advise you that a member of the SEC’s staff has advised [us][me] by telephone that the
SEC has entered an order declaring the Registration Statement effective under the 1933 Act at [ENTER TIME OF EFFECTIVENESS]
on [ENTER DATE OF EFFECTIVENESS] and [we][I] have no knowledge, after telephonic inquiry of a member of the
SEC’s staff, that any stop order suspending its effectiveness has been issued or that any proceedings for that purpose are pending
before, or threatened by, the SEC and the Registrable Securities are available for resale under the 1933 Act pursuant to the Registration
Statement.

 

This
letter shall serve as our standing instruction to you that the shares of Common Stock are freely transferable by the Holders pursuant
to the Registration Statement. You need not require further letters from us to effect any future legend-free issuance or reissuance
of shares of Common Stock to the Holders as contemplated by the Company’s Irrevocable Transfer Agent Instructions dated October
22, 2018.

 

Very
truly yours,

 

[ISSUER’S
COUNSEL]

 

By:_____________________

 

CC:[LIST
NAMES OF HOLDERS]

 

    A-1

     

    

 

EXHIBIT
B

 

SELLING
STOCKHOLDERS

 

The
shares of common stock being offered by the selling stockholders are those previously issued to the selling stockholders and those
shares issuable upon conversion of the convertible preferred shares and upon exercise of the two tranches of warrants. For additional
information regarding the issuances of the common stock, the convertible preferred shares and the warrants, see “Private
Placement of the Convertible Preferred Shares and Warrants” above. We are registering the shares of common stock in order
to permit the selling stockholders to offer the shares for resale from time to time. Except for the ownership of the shares of
common stock, the convertible preferred shares and the warrants issued pursuant to the Securities Purchase Agreement, the selling
stockholders have not had any material relationship with us within the past three years.

 

The
table below lists the selling stockholders and other information regarding the beneficial ownership of the shares of common stock
by each of the selling stockholders. The second column lists the number of shares of common stock beneficially owned by each selling
stockholder, based on its ownership of the shares of common stock, the convertible preferred shares and the warrants, as of ________,
2018, assuming conversion of all convertible preferred shares and exercise of the warrants held by the selling stockholders on
that date, without regard to any limitations on conversions and/or redemptions of the convertible preferred shares or exercises
of the warrants.

 

The
third column lists the shares of common stock being offered by this prospectus by the selling stockholders.

 

In
accordance with the terms of a registration rights agreement with the holders of the shares of common stock, the convertible preferred
shares and the warrants, this prospectus generally covers the resale of at least a number of shares of Common Stock equal to the
sum of (i) the number of shares of common stock issued, (ii) the maximum number of shares of common stock issued and issuable
pursuant to the convertible preferred shares as of the Trading Day immediately preceding the date the registration statement is
initially filed with the SEC, and (ii) the maximum number of shares of common stock issued and issuable upon exercise of the related
warrants as of the Trading Day immediately preceding the date the registration statement is initially filed with the SEC, all
subject to adjustment as provided in the registration rights agreement and in each case without regard to any limitations on the
issuance of shares of common stock pursuant to the terms of the convertible preferred shares or exercise of the warrants. Because
the conversion price of the convertible preferred shares may be adjusted, the number of shares that will actually be issued may
be more or less than the number of shares being offered by this prospectus.. The fourth column assumes the sale of all of the
shares offered by the selling stockholders pursuant to this prospectus.

 

Under
the terms of the convertible preferred shares and the warrants, a selling stockholder may not convert the convertible preferred
shares or exercise the warrants, to the extent such conversion or exercise would cause such selling stockholder, together with
its affiliates, to beneficially own a number of shares of common stock which would exceed [4.99%][9.99%] of our then outstanding
shares of common stock following such conversion or exercise, excluding for purposes of such determination shares of common stock
issuable upon conversion of the convertible preferred shares which have not been converted and upon exercise of the warrants which
have not been exercised. The number of shares in the second column does not reflect this limitation. The selling stockholders
may sell all, some or none of their shares in this offering. See “Plan of Distribution.”

 

    B-1

     

    

 

	Name
    of Selling Stockholder	 	Number
    of Shares of Common Stock Owned Prior to Offering	 	 	Maximum
    Number of Shares of Common Stock to be Sold Pursuant to this Prospectus	 	 	Number
    of Shares of Common Stock Owned After Offering	 
	Empery
    Asset Master, Ltd. (1)	 	 	       	 	 	 	       	 	 	 	       	 
	Empery
    Tax Efficient, LP (2)	 	 	 	 	 	 	 	 	 	 	 	 
	Empery
    Tax Efficient II, LP (3)	 	 	 	 	 	 	 	 	 	 	 	 
	[Other
    Buyers]	 	 	 	 	 	 	 	 	 	 	 	 

 

(1)
Empery Asset Management LP, the authorized agent of Empery Asset Master Ltd (“EAM”), has discretionary authority to
vote and dispose of the shares held by EAM and may be deemed to be the beneficial owner of these shares. Martin Hoe and Ryan Lane,
in their capacity as investment managers of Empery Asset Management LP, may also be deemed to have investment discretion and voting
power over the shares held by EAM. EAM, Mr. Hoe and Mr. Lane each disclaim any beneficial ownership of these shares. The business
address for each of EAM, Empery Asset Management LP and Messrs. Hoe and Lane is c/o Empery Asset Management, LP, 1 Rockefeller
Plaza, Suite 1205, New York, NY 10020.

 

(2)
Empery Asset Management LP, the authorized agent of Empery Tax Efficient, LP (“ETE”), has discretionary authority to
vote and dispose of the shares held by ETE and may be deemed to be the beneficial owner of these shares. Martin Hoe and Ryan Lane,
in their capacity as investment managers of Empery Asset Management LP, may also be deemed to have investment discretion and voting
power over the shares held by ETE. ETE, Mr. Hoe and Mr. Lane each disclaim any beneficial ownership of these shares. The business
address for each of ETE, Empery Asset Management LP and Messrs. Hoe and Lane is c/o Empery Asset Management, LP, 1 Rockefeller
Plaza, Suite 1205, New York, NY 10020.

 

(3)
Empery Asset Management LP, the authorized agent of Empery Tax Efficient II, LP (“ETE II”), has discretionary authority
to vote and dispose of the shares held by ETE II and may be deemed to be the beneficial owner of these shares. Martin Hoe and
Ryan Lane, in their capacity as investment managers of Empery Asset Management LP, may also be deemed to have investment discretion
and voting power over the shares held by ETE II. ETE II, Mr. Hoe and Mr. Lane each disclaim any beneficial ownership of these
shares. The business address for each of ETE II, Empery Asset Management LP and Messrs. Hoe and Lane is c/o Empery Asset Management,
LP, 1 Rockefeller Plaza, Suite 1205, New York, NY 10020.

 

(4)
[Other Buyers]

 

    B-2

     

    

 

PLAN
OF DISTRIBUTION

 

We
are registering the shares of common stock previously issued, the shares of common stock issuable upon conversion of the convertible
preferred shares and the shares of common stock issuable upon exercise of the warrants to permit the resale of these shares of
common stock by the holders of the common stock, the convertible preferred shares and warrants from time to time after the date
of this prospectus. We will not receive any of the proceeds from the sale by the selling stockholders of the shares of common
stock. We will bear all fees and expenses incident to our obligation to register the shares of common stock.

 

The
selling stockholders may sell all or a portion of the shares of common stock beneficially owned by them and offered hereby from
time to time directly or through one or more underwriters, broker-dealers or agents. If the shares of common stock are sold through
underwriters or broker-dealers, the selling stockholders will be responsible for underwriting discounts or commissions or agent’s
commissions. The shares of common stock may be sold in one or more transactions at fixed prices, at prevailing market prices at
the time of the sale, at varying prices determined at the time of sale, or at negotiated prices. These sales may be effected in
transactions, which may involve crosses or block transactions,

 

	 	●	on
    any national securities exchange or quotation service on which the securities may be listed or quoted at the time of sale;

 

	 	●	in
    the over-the-counter market;

 

	 	●	in
    transactions otherwise than on these exchanges or systems or in the over-the-counter market;

 

	 	●	through
    the writing of options, whether such options are listed on an options exchange or otherwise;

 

	 	●	ordinary
    brokerage transactions and transactions in which the broker-dealer solicits purchasers;

 

	 	●	block
    trades in which the broker-dealer will attempt to sell the shares as agent but may position and resell a portion of the block
    as principal to facilitate the transaction;

 

	 	●	purchases
    by a broker-dealer as principal and resale by the broker-dealer for its account;

 

	 	●	an
    exchange distribution in accordance with the rules of the applicable exchange;

 

	 	●	privately
    negotiated transactions;

 

	 	●	short
    sales;

 

	 	●	sales
    pursuant to Rule 144;

 

    B-3

     

    

 

	 	●	broker-dealers
    may agree with the selling securityholders to sell a specified number of such shares at a stipulated price per share;

 

	 	●	a
    combination of any such methods of sale; and

 

	 	●	any
    other method permitted pursuant to applicable law.

 

If
the selling stockholders effect such transactions by selling shares of common stock to or through underwriters, broker-dealers
or agents, such underwriters, broker-dealers or agents may receive commissions in the form of discounts, concessions or commissions
from the selling stockholders or commissions from purchasers of the shares of common stock for whom they may act as agent or to
whom they may sell as principal (which discounts, concessions or commissions as to particular underwriters, broker-dealers or
agents may be in excess of those customary in the types of transactions involved). In connection with sales of the shares of common
stock or otherwise, the selling stockholders may enter into hedging transactions with broker-dealers, which may in turn engage
in short sales of the shares of common stock in the course of hedging in positions they assume. The selling stockholders may also
sell shares of common stock short and deliver shares of common stock covered by this prospectus to close out short positions and
to return borrowed shares in connection with such short sales. The selling stockholders may also loan or pledge shares of common
stock to broker-dealers that in turn may sell such shares.

 

The
selling stockholders may pledge or grant a security interest in some or all of the convertible preferred shares or warrants or
shares of common stock owned by them and, if they default in the performance of their secured obligations, the pledgees or secured
parties may offer and sell the shares of common stock from time to time pursuant to this prospectus or any amendment to this prospectus
under Rule 424(b)(3) or other applicable provision of the Securities Act of 1933, as amended, amending, if necessary, the list
of selling stockholders to include the pledgee, transferee or other successors in interest as selling stockholders under this
prospectus. The selling stockholders also may transfer and donate the shares of common stock in other circumstances in which case
the transferees, donees, pledgees or other successors in interest will be the selling beneficial owners for purposes of this prospectus.

 

The
selling stockholders and any broker-dealer participating in the distribution of the shares of common stock may be deemed to be
“underwriters” within the meaning of the Securities Act, and any commission paid, or any discounts or concessions allowed
to, any such broker-dealer may be deemed to be underwriting commissions or discounts under the Securities Act. At the time a particular
offering of the shares of common stock is made, a prospectus supplement, if required, will be distributed which will set forth
the aggregate amount of shares of common stock being offered and the terms of the offering, including the name or names of any
broker-dealers or agents, any discounts, commissions and other terms constituting compensation from the selling stockholders and
any discounts, commissions or concessions allowed or reallowed or paid to broker-dealers.

 

Under
the securities laws of some states, the shares of common stock may be sold in such states only through registered or licensed
brokers or dealers. In addition, in some states the shares of common stock may not be sold unless such shares have been registered
or qualified for sale in such state or an exemption from registration or qualification is available and is complied with.

 

    B-4

     

    

 

There
can be no assurance that any selling stockholder will sell any or all of the shares of common stock registered pursuant to the
registration statement, of which this prospectus forms a part.

 

The
selling stockholders and any other person participating in such distribution will be subject to applicable provisions of the Securities
Exchange Act of 1934, as amended, and the rules and regulations thereunder, including, without limitation, Regulation M of the
Exchange Act, which may limit the timing of purchases and sales of any of the shares of common stock by the selling stockholders
and any other participating person. Regulation M may also restrict the ability of any person engaged in the distribution of the
shares of common stock to engage in market-making activities with respect to the shares of common stock. All of the foregoing
may affect the marketability of the shares of common stock and the ability of any person or entity to engage in market-making
activities with respect to the shares of common stock.

 

We
will pay all expenses of the registration of the shares of common stock pursuant to the registration rights agreement, estimated
to be $[  ] in total, including, without limitation, Securities and Exchange Commission filing fees
and expenses of compliance with state securities or “blue sky” laws; provided, however, that a selling stockholder will
pay all underwriting discounts and selling commissions, if any. We will indemnify the selling stockholders against liabilities,
including some liabilities under the Securities Act, in accordance with the registration rights agreements, or the selling stockholders
will be entitled to contribution. We may be indemnified by the selling stockholders against civil liabilities, including liabilities
under the Securities Act, that may arise from any written information furnished to us by the selling stockholder specifically
for use in this prospectus, in accordance with the related registration rights agreement, or we may be entitled to contribution.

 

Once
sold under the registration statement, of which this prospectus forms a part, the shares of common stock will be freely tradable
in the hands of persons other than our affiliates.

 

    B-5Exhibit 10.4

 

AMENDMENT TO CONVERTILE LOAN AGREEMENTS

 

This Amendment to Convertible Loan Agreements
(this “Amendment”) dated this 19th day of October, 2018, by and among Wize Pharma Ltd. Private Company 520033259
(the “Company”), Wize Pharma, Inc., Rimon Gold Assets Ltd., Private Company, 514819424 (“Rimon Gold”),
Ridge Valley Corporation (“Ridge Valley”), and Shimshon Fisher (“Fisher”).

 

W I T N E S S E T H:

 

WHEREAS, the Company
is party to a convertible loan agreement with Rimon Gold, dated March 20, 2016 (as amended, the “First Convertible Loan
Agreement”), as amended by (i) the addendum dated March 30, 2016, between the Company and Rimon Gold, (ii) the second
convertible loan agreement (as amended, the “Second Convertible Loan Agreement”), dated January 12, 2017, among
the Company, Rimon Gold, and Ridge Valley, and (iii) an amendment to the First Convertible Loan Agreement, dated December 21, 2017;

 

WHEREAS, pursuant to
an assignment and assumption, Fisher is party to the Second Convertible Loan Agreement;

 

WHEREAS, the parties
desire to amend the First Convertible Loan Agreement and the Second Convertible Loan Agreement as more particularly set forth below;

 

WHEREAS, on or about
the date hereof, Wize Pharma, Inc., which is the parent company of the Company, is entering into a securities purchase agreement
(the “Purchase Agreement”) with the buyers (the “Buyers”) identified therein;

 

WHEREFORE, the parties
do hereby agree as follows:

 

1. This Amendment will be effective immediately,
but if the closing of the transactions contemplated by the Purchase Agreement have not occurred on or before October 31, 2018,
this Amendment shall be void ab initio. 

 

2. The maturity date (the “Maturity
Date”) of the loans under each of the First Convertible Loan Agreement and the Second Convertible Loan Agreement is hereby
amended to be the earliest of (i) 90 days following the date that the Registration Statement (as defined under the Purchase Agreement)
covering the resale of all Registrable Securities (as defined in the Purchase Agreement) of Buyers who are not a party to this
Amendment (or affiliates of a party to this Amendment) has been effective and available for the re-sale of such Registrable Securities,
(ii) 90 days following the date on which all securities issued to Buyers under the Purchase Agreement are no longer Registrable
Securities, and (iii) one year following the Closing (as defined in the Purchase Agreement).

 

3. The expiration date of the investment
right under the First Convertible Loan Agreement and the investment option under the Second Convertible Loan Agreement is hereby
amended to be 180 days after the Maturity Date.

 

4. Except as modified herein, the terms
of the First Convertible Loan Agreement and the Second Convertible Loan Agreement shall remain in full force and effect.

 

5. This Amendment may be executed in any
number of counterparts, each of which when so executed shall be deemed to be an original and shall be binding upon all parties,
their successors and assigns, and all of which taken together shall constitute one and the same Amendment. A signature delivered
by facsimile shall constitute an original.

 

[Signature Page Follows]

 

     

     

    

 

IN WITNESS WHEREOF,
the parties have executed this Amendment as of the date first written above.

 

	Wize pharma ltd. PRIVATE

                    COMPANY
                    520033259  
	 	 
	 	 	 	 
	By:	/s/ Or Eisenberg	 	 
	Name:	Or Eisenberg	 	 
	Title:	CFO & Acting CEO	 	 
	 	 	 	 
	WIZE PHARMA, INC.	 	 
	 	 	 	 
	By:	/s/ Or Eisenberg	 	 
	Name:	Or Eisenberg	 	 
	Title:	CFO & Acting CEO	 	 

 

	RIMON GOLD ASSETS LTD.	 	 
	 	 	 	 
	By:	/s/ Abir Raveh	 	 
	Name:	Abir Raveh	 	 
	Title:	 	 	 
	 	 	 	 
	RIDGE VALLEY CORPORATION	 	 
	 	 	 
	By:	/s/ Priscillia Julie	 	 
	Name:	Priscillia Julie	 	 
	Title:	Director	 	 
	 	 	 	 
	/s/ Shimshon Fisher	 	 
	Shimshon Fisher	 	 

 

    2

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