Document:

Exhibit 10.4

 

ASSET PURCHASE AGREEMENT

 

I. THE PARTIES. This Asset Purchase Agreement (“Agreement”), made this February 10, 2022, between the following parties:

 

Buyer: MEDIES, with a mailing address of 4 Fall Park Court,
City of Leeds LS13 2LP, the State of England, United Kingdom England, (“Buyer”),

 

AND

 

Seller: Kenneth Tindall, with a mailing address of 4 Fall Park
Court, City of Leeds LS13 2LP England United Kingdom, (“Seller”).

 

When both the Buyer and Seller are mentioned collectively, they shall
be known as the “Parties.”

 

II. TANGIBLE
ASSETS. As part of this of this Agreement, the Buyer agrees to buy while the Seller agrees
to sell: (check one) Description of Tangible Asset(s)        Price ($)

For the list of items see Appendix A.                  
38,930

 

 

III. INTANGIBLE
ASSETS. As part of this of this Agreement, the Buyer agrees to buy while the Seller agrees
to sell: (check one)

 

	Description of Intangible Asset(s) 	Price ($)
	 	 
	For the list of items see Appendix A.  	1,180

 

The Tangible Assets in Section II and the Intangible Assets of Section
III shall be collectively known as the “Assets.”

 

 IV. PURCHASE PRICE. The purchase price of the Assets is $40,110 (“Purchase Price”).

 

 V. PAYMENT. As part of this Agreement the Buyer shall deliver a Promissory Note. The terms of the note shall include the principal amount (Purchase Price), the terms of repayment and the maturity date.

 

 VI. INSPECTION. The Parties agree that there shall not be an inspection period. 

 

 VII. PAYMENT. The Purchase Price shall be paid on February 10, 2024

 

 

 VIII. APPROVAL OF 3rd PARTY. For the Assets to be sold, there is no requirement for consent or approval from any 3rd party

 

X. CLOSING.
This transaction shall be closed on February 10, 2022, at 12:00 or earlier at an agreed upon location by the Parties.
(“Closing”). Any extension of the Closing must be agreed upon, in writing, by Buyer and Seller.

 

a.) Closing Costs. All costs
associated with the Closing shall be the responsibility of the Seller.

 

XI. SELLER’S
REPRESENTATIONS. The Seller covenants and represents the following:

 

a.) Fiduciary Duty. The Seller agrees
that during the purchase process to hold a fiduciary duty in the best interests of the Buyer. The Seller shall in no way conduct any action
that would disrupt the on-going status of the Assets’ value or condition. This obligation shall continue until the Closing.

 

b.) Rights and Ownership.
Seller makes the claim that they are the sole owner of the Assets with full rights to sell as stated in this Agreement. No other person
has any claim, right, title, interest, or lien in, to, or on the Assets.

 

 

 

    	 	1	 

     

    

 

c.) Outstanding Liabilities. The Seller has no outstanding
liabilities, liens, judgments, or obligations that directly or indirectly affect the Assets.

 

d.) Taxes. Seller claims
that all taxes related to the Assets have been paid-in-full. e.) Insurance. If there is any insurance on the Assets, the Seller
agrees to provide the Buyer with a copy of the current insurance policy, if any, to the Buyer within a reasonable time period. The Buyer
has the option to assume the policy subject to the insurer’s approval.

 

f.) Outstanding Suits. There are no actions,
suits, proceedings, or investigations pending or, to the knowledge of the Seller, threatened against or involving the Seller or brought
by the Seller or affecting any of the Assets at law or in equity or admiralty or before any Federal, State, Municipal, or other governmental
department, commission, board, agency, or instrumentality, domestic or foreign, nor has any such action, suit, proceeding, or investigation
been pending during the preceding date hereof.

 

XII. PARTIES’
REPRESENTATIONS. The Parties represent and agree to the following:

 

a.) Compliance with Agreement.
The representations and warranties of the Seller contained in this Agreement or any certificate or document delivered pursuant to the
provisions hereof or in connection with the transactions contemplated hereby shall be true on and as of the Closing as though such representations
and warranties were made at and as of such date, except if such representations and warranties shall be true as of such date.

 

b.) Injunction. On the day of Closing,
there shall be no effective injunction, writ, preliminary restraining order, or any order of any nature issued by a court of competent
jurisdiction directing that the transactions provided for herein or any of them not to be consummated as herein provided.

 

c.) Buyer’s Approval. All actions,
proceedings, instruments, and documents required to carry out this Agreement, or incidental thereto, and all other related legal matters
shall have been approved by counsel for the Buyer.

 

d.) Casualty. The Assets, or any substantial
portion thereof, shall not have been adversely affected in any material way as a result of any fire, accident, flood, or other casualty
or act of God or public enemy, not shall any substantial portion of the purchased property have been stolen, taken by eminent domain,
or subject to condemnation. If the Closing occurs hereunder despite such casualty as a result of the waiver of this condition by the Buyer,
the Seller shall assign or pay over to the Buyer the proceeds of any insurance or any condemnation proceeds with respect to any casualty
involving the Assets that occur after the date hereof.

e.) Adverse Change. Between the date
of this Agreement and the Closing, there shall be no material adverse change of the Assets.

 

XIII. SELLER’S
INDEMNIFICATION. The Seller agrees to jointly and severally indemnify and hold the Buyer,
and assigns, harmless from any and all claims of any nature whatsoever, including without limitation:

 

a.) Claims. Tort claims and claims made by creditors; and

 

b.) Taxes. Claims that may be made hereinafter
on account of Federal and State taxes, including, but not limited to, sales taxes, franchise taxes, unemployment taxes, Social Security
taxes, excise taxes, and any other taxes of any nature or form on account of the Buyer ending on and accruing up to the Closing.

 

XIV.     
ACCESS TO INFORMATION: After the execution of this
Agreement, the Buyer shall have full access to any and all information in reference to the Assets. The Buyer shall maintain a fiduciary
duty to keep the information that it obtains confidential and agrees to not share with any third (3rd) party unless the Seller gives their
written consent.

 

XV. TRANSFER
OF ASSETS. The Seller makes the following covenants to the Buyer: a.) Title. A bill of
sale shall be delivered at the Closing that shall transfer all the Assets mentioned in this Agreement and free and clear of all encumbrances.
The Seller shall include any and all items that are listed in the Appendix A to be placed in the name of the Buyer or in a name the Buyer
suggests.

 

XVI.     
RETURN OF MATERIALS. Any information that is obtained
by the Buyer through the Seller shall be returned if there is no Closing.

 

 

 

    	 	2	 

     

    

 

XVII.     
MEDIATION AND ARBITRATION. If a dispute arises under
this Agreement, the parties agree to first try to resolve the dispute with the help of a mutually agreed-upon mediator in West Yorkshire
County, in the State of England (UK). Any costs and fees other than attorney fees associated with the mediation shall be shared equally
by the parties. If the dispute is not resolved through mediation, the parties agree to submit the dispute to binding arbitration in West
Yorkshire County, in the State of England (UK). Judgment upon the award rendered by the arbitrator may be entered in any court with
jurisdiction to do so. The prevailing party shall be entitled to recover its costs and reasonable attorney's fees.

 

XVIII.     
CONFIDENTIALITY. All negotiations regarding the Assets
between the Buyer and Seller shall be confidential and not to be disclosed with anyone other than respective advisors and internal staff
of the Parties and necessary third (3rd) parties. No press, or other public releases, will be issued to the general public concerning
the Assets without the mutual consent or as required by law, and then only upon prior written notice to the other party unless otherwise
not allowed.

 

XIX.     
CURRENCY. All mentions of money or the usage of the
"$" icon shall be known as referring to the US Dollar.

 

XX.     
GOVERNING LAW. This Letter of Intent shall be governed
under the laws by the State of Wyoming.

 

XXI.     
SEVERABILITY. In case any provision or wording in
this Letter of Intent shall be held invalid, illegal or unenforceable, the validity, legality, and enforceability of the remaining provisions
shall not in any way be affected or impaired thereby.

 

XXII.     
ENTIRE AGREEMENT. This Agreement contains all the
terms agreed to by the parties relating to its subject matter including any attachments or addendums. This Agreement replaces all previous
discussions, understandings, and oral agreements.

 

SELLER

 

Seller’s Signature /s/ Kenneth Tindall

 

Name printed: Kenneth Tindall

 

Date 02/10/2022

 

BUYER

 

Buyer’s Signature /s/ Kenneth Tindall

Name printed: MEDIES

 

Date: 02/10/2022

 

 

    	 	3	 

     

    

 
	Tangible assets	 	 	 
	Equipment	 	Price	 
	Sony Alpha 1 Mirrorless Camera with FE 24-70mm f/2.8 GM Lens	 	$	9,000	 
	Sony A7 camera	 	$	2,400	 
	Canon CN-E 50mm T1.3 L F Cine Lens	 	$	3,900	 
	Epson SureColor P900 17-Inch desktop Photo Printer	 	$	1,100	 
	DJI Ronin 4D 4-Axis Cinema Camera 6K Combo Kit	 	$	6,700	 
	Wonderboom Sound Box	 	$	90	 
	Subtotal	 	$	23,190	 
	 	 	 	 	 
	Devices	 	 	 	 
	 	 	 	 	 
	iMac 27 inch (specially kitted out)	 	$	3,400	 
	Oculus Quest 2 (VR) x 2	 	$	700	 
	LG OLED C1 Series 65” Screen	 	$	2,000	 
	Bose Videobar VB1	 	$	1,100	 
	2021 MacBook Pro with M1 Pro Chip	 	$	4,200	 
	PlayStation 5	 	$	1,000	 
	Subtotal	 	$	12,400	 
	 	 	 	 	 
	Communication	 	 	 	 
	 	 	 	 	 
	iPhone 12 Pro	 	$	1,200	 
	iPhone XR	 	$	300	 
	iPad Pro	 	$	1,000	 
	Samusung Galaxy S21 Ultra 5G	 	$	840	 
	Subtotal	 	$	3,340	 
	 	 	 	 	 
	Intangible assets	 	 	 	 
	 	 	 	 	 
	Software 	 	 	 	 
	 	 	 	 	 
	Final Cut Pro X	 	$	290	 
	Da Vinci Resolve	 	$	290	 
	PE. (Photoshop)	 	$	200	 
	Adobe AE. CC for teams	 	$	400	 
	Motion - Multidimensional Motion Graphics	 	 	 	 
	No remuneration	 	 	 	 
	MindNode – Diagramming Solution	 	 	 	 
	No remuneration	 	 	 	 
	Subtotal 	 	$	1,180	 
	Total	 	$	40,110	 

 

 

    	 	4	 

     

    

 

PROMISSORY NOTE

 

On the 10th day of February, 2022, hereinafter
known as the "Start Date", MEDIES of 4 Fall Park Court Leeds LS13 2LP, UK, hereinafter known as the “Borrower”, has received and promises to payback Kenneth Tindall
of 4 Fall Park Court Leeds LS13 2LP, UK, hereinafter known as the “Lender”, the principal sum of Forty Thousand One Hundred
Ten US Dollars ($40,110), hereinafter known as the "Borrowed Money", beginning as of the Start Date in the manner as
follows:

 

1.       PAYMENTS: The full balance of this Note, including
all accrued interest and late fees, is due and payable on the 10th day of February, 2024, hereinafter known as the "Due
Date".

 

 A. Lump Sum/Instalment(s). 

 

- LUMP SUM – Borrower shall pay a lump sum to be made
in-full, principal and interest included, of Forty Thousand One Hundred Ten US Dollars ($40,110), by the Due Date.

 

LATE FEE - There shall be a late payment fee of Ten Thousand
Dollars ($10,000) applied immediately if the Lump Sum is not paid on the due date, in addition to any other fees recovered through
the possible civil lawsuit.

 

2.       SECURITY:

 

UNSECURED LOAN – There shall be NO
SECURITY provided in this Note.

 

3.       INTEREST
DUE IN THE EVENT OF DEFAULT: In the event the Borrower fails to pay the note in-full on the
Due Date, unpaid principal shall accrue interest at the maximum rate allowed by law, until the Borrower is no longer in default.

 

4.       ALLOCATION
OF PAYMENTS: Payments shall be first credited any late fees due, then any and all interest due
and any remainder will be credited to principal.

 

5.       PREPAYMENT:
Borrower may pre-pay this Note without penalty.

 

6.       ACCELERATION:
If the Borrower is in default under this Note or is in default under another provision of this Note, and such default is not cured within
the minimum allotted time by law after written notice of such default, then Lender may, at its option, declare all outstanding sums owed
on this Note to be immediately due and payable.

 

6A. SECURITY - This includes any rights of possession in relation
to the Security described in Section 2.

 

7.       
ATTORNEYS’ FEES AND COSTS: Borrower shall pay
all costs incurred by Lender in collecting sums due under this Note after a default, including reasonable attorneys’ fees. If Lender
or Borrower sues to enforce this Note or obtain a declaration of its rights hereunder, the prevailing party in any such proceeding shall
be entitled to recover its reasonable attorneys’ fees and costs incurred in the proceeding (including those incurred in any bankruptcy
proceeding or appeal) from the non-prevailing party.

 

8.        
WAIVER OF PRESENTMENTS: Borrower waives presentment
for payment, notice of dishonour, protest and notice of protest.

 

9.        NON-WAIVER:
No failure or delay by Lender in exercising Lender’s rights under this Note shall be considered a waiver of such rights.

 

10.      SEVERABILITY: In the event that any provision herein
is determined to be void or unenforceable for any reason, such determination shall not affect the validity or enforceability of any other
provision, all of which shall remain in full force and effect.

 

11.     
INTEGRATION: There are no verbal or other agreements
which modify or affect the terms of this Note. This Note may not be modified or amended except by written agreement signed by Borrower
and Lender.

 

12.     
CONFLICTING TERMS: The terms of this Note shall control
over any conflicting terms in any referenced agreement or document.

 

 13.        NOTICE: Any notices required or permitted to be given hereunder shall be given in writing and shall be delivered (a) in person, (b) by certified mail, postage prepaid, return receipt requested, (c) by facsimile, or (d) by a commercial overnight courier that guarantees next day delivery and provides a receipt, and such notices shall be made to the parties at the addresses listed below.

 

 14.        CO-SIGNER: 

 

- NO CO-SIGNER – This Note shall not have a Co-Signer.

 

15.    
EXECUTION: The Borrower executes this Note as a principal
and not as a surety.

 

 16. GOVERNING LAW: This note shall be governed under the laws in the State of Wyoming. 

 

 

 17. SIGNATURE AREA:

 

To Buyer as follows:

MEDIES

4 Fall Park Court Leeds LS13 2LP,

United Kingdom

(Tel) (44) 7967 396263

(e-mail) medies@mail.com

 

To Seller as follows:

Kenneth Tindall

4 Fall Park Court Leeds LS13 2LP,

United Kingdom

(Tel) 1 424 465 0407

(e-mail) kenneth164@hotmail.com

 

 

 

 

    	 	5	 

     

    

 

BILL OF SALE

 

 

KNOW ALL MEN BY THESE PRESENTS, that as of February
10, 2022, and in consideration of the sum of the Purchase Price, as that term is defined in that certain Asset Purchase Agreement (“Agreement”)
among and between Kenneth Tindall, as Seller and MEDIES, corporation, as Buyer, dated of even date herewith, the receipt of which is hereby
acknowledged, and undersigned does hereby grant, sell, transfer and deliver onto MEDIES, its respective successors and assigns, the following
Assets described in Appendix A attached hereto and expressly made a part of hereof by reference.

 

FOR $40,110 TO HAVE AND TO HOLD, all and singular,
the said assets in the Asset Purchase Agreement, forever; and the undersigned grantor hereby covenants with the said grantee, that it
is the lawful owner of the said assets; that said assets are free from all encumbrances; that it has good right to sell the same as aforesaid,
and that it will warrant and defend the title of the same against the lawful claims and demands of all persons whomsoever.

 

IN WITNESS WHEREOF, a representative of the said
grantor has hereunto set his hand on behalf of grantor as of the date first above written.

 

Signature /s/ Kenneth Tindall

 

By: Kenneth Tindall

 

 

 

 

 

 

    	 	6Exhibit 4.1

 

THE REGISTERED HOLDER OF
THIS PURCHASE WARRANT BY ITS ACCEPTANCE HEREOF, AGREES THAT IT WILL NOT SELL, TRANSFER OR ASSIGN THIS PURCHASE WARRANT EXCEPT AS
HEREIN PROVIDED AND THE REGISTERED HOLDER OF THIS PURCHASE WARRANT AGREES THAT IT WILL NOT SELL, TRANSFER, ASSIGN, PLEDGE OR HYPOTHECATE
THIS PURCHASE WARRANT FOR A PERIOD OF ONE HUNDRED EIGHTY DAYS FOLLOWING [●], 2021, WHICH IS THE COMMENCEMENT DATE OF SALES
IN THE OFFERING (THE “EFFECTIVE DATE”) TO ANYONE OTHER THAN (I) THE BENCHMARK COMPANY LLC, OR A SELECTED DEALER
IN CONNECTION WITH THE OFFERING FOR WHICH THIS PURCHASE WARRANT WAS ISSUED TO THE UNDERWRITER AS CONSIDERATION (THE “OFFERING”),
OR (II) THE OFFICERS OR PARTNERS, REGISTERED PERSONS OR AFFILIATES OF BENCHMARK COMPANY LLC.

 

THIS PURCHASE WARRANT IS
NOT EXERCISABLE PRIOR TO [●], 2022. VOID AFTER 5:00 P.M., EASTERN TIME, [●], 2026.

 

COMMON STOCK PURCHASE WARRANT

 

For the Purchase of [●] Shares of Common
Stock

of

Tenon Medical, Inc.

 

1.            Purchase
Warrant. THIS CERTIFIES THAT, in consideration of funds duly paid by or on behalf of [●] (“Holder”),
as registered owner of this Purchase Warrant, to Tenon Medical, Inc., a Delaware corporation (the “Company”),
Holder is entitled, at any time or from time to time beginning [●], 2022 (the “Commencement Date”), and
at or before 5:00 p.m., Eastern time, [●], 2026 (the “Expiration Date”), but not thereafter,
to subscribe for, purchase and receive, in whole or in part, up to [●] shares of common stock of the Company, par value $0.00001
per share (the “Shares”), subject to adjustment as provided in Section 6 hereof. If the Expiration Date is a
day on which banking institutions are authorized by law to close, then this Purchase Warrant may be exercised on the next succeeding
day which is not such a day in accordance with the terms herein. During the period ending on the Expiration Date, the Company agrees
not to take any action that would terminate this Purchase Warrant. This Purchase Warrant is initially exercisable at $[●]
per Share; provided, however, that upon the occurrence of any of the events specified in Section 6 hereof, the rights
granted by this Purchase Warrant, including the exercise price per Share and the number of Shares to be received upon such exercise,
shall be adjusted as therein specified. The term “Exercise Price” shall mean the initial exercise price or the
adjusted exercise price, depending on the context.

 

2.            Exercise.

 

2.1       Exercise
Form. In order to exercise this Purchase Warrant, the exercise form attached hereto must be duly executed and completed and
delivered to the Company, together with this Purchase Warrant and payment of the Exercise Price for the Shares being purchased
payable in cash by wire transfer of immediately available funds to an account designated by the Company or by certified check or
official bank check. If the subscription rights represented hereby shall not be exercised at or before 5:00 p.m., Eastern time,
on the Expiration Date, this Purchase Warrant shall become and be void without further force or effect, and all rights represented
hereby shall cease and expire. Each exercise hereof shall be irrevocable.

 

2.2       Cashless
Exercise. In lieu of exercising this Purchase Warrant by payment of cash or check payable to the order of the Company
pursuant to Section 2.1 above, Holder may elect to receive the number of Shares equal to the value of this Purchase Warrant (or
the portion thereof being exercised), by surrender of this Purchase Warrant to the Company, together with the exercise form attached
hereto, in which event the Company will issue to Holder Shares in accordance with the following formula:

 

     

     

    

	X	=	Y(A-B)
	A

	Where,	 	 	 
	 	X	=	The number of Shares to be issued to Holder;
	 	Y	=	The number of Shares for which the Purchase Warrant is being exercised if such exercise were by means of a cash exercise rather than a cashless exercise;
	 	A	=	as applicable: (i) the VWAP on the Trading Day immediately preceding  the date of the applicable exercise form if such exercise form is (1) both executed and delivered pursuant to Section 2.2 hereof on a day that is not a Trading Day or (2) both executed and delivered pursuant to Section 2.2 hereof on a Trading Day prior to the opening of “regular trading hours” (as defined in Rule 600(b)(68) of Regulation NMS promulgated under the federal securities laws) on such Trading Day, (ii) at the option of the Holder, either (y) the VWAP on the Trading Day immediately preceding the date of the applicable Exercise Form or (z) the Bid Price of the Common Stock on the principal Trading Market as reported by Bloomberg L.P. as of the time of the Holder’s execution of the applicable Exercise Form if such Exercise Form is executed during “regular trading hours” on a Trading Day and is delivered within two (2) hours thereafter (including until two (2) hours after the close of “regular trading hours” on a Trading Day) pursuant to Section 2.2 hereof, which Bid Price shall be shown on supporting documents provided by the Holder to the Company within two Trading Days of delivery of the exercise form, or (iii) the VWAP on the date of the applicable exercise form if the date of such exercise form is a Trading Day and such exercise form is both executed and delivered pursuant to Section 2.2 hereof after the close of “regular trading hours” on such Trading Day; and
	 	B	=	The Exercise Price.
	 	 	 	 	 	 	 	 	 

“Bid Price”
means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then listed
or quoted on a Trading Market, the bid price of the Common Stock for the time in question (or the nearest preceding date) on the
Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on a Trading Day from 9:30
a.m. (New York City time) to 4:02 p.m. (New York City time)), (b) if OTCQB or OTCQX is not a Trading Market, the volume weighted
average price of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the Common
Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Common Stock are then reported in the “Pink
Sheets” published by OTC Markets Group, Inc. (or a similar organization or agency succeeding to its functions of reporting
prices), the most recent bid price per share of the Common Stock so reported, or (d) in all other cases, the fair market value
of a share of Common Stock as determined by an independent appraiser selected in good faith by the Holder and reasonably acceptable
to the Company, the fees and expenses of which shall be paid by the Company.

 

“VWAP”
means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then listed
or quoted on a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the nearest preceding
date) on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on a Trading
Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b) if OTCQB or OTCQX is not a Trading Market, the
volume weighted average price of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable,
(c) if the Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Common Stock are then
reported in the “Pink Sheets” published by OTC Markets Group, Inc. (or a similar organization or agency succeeding
to its functions of reporting prices), the daily volume weighted average price of the Common Stock for such date (or the nearest
preceding date), or (d) in all other cases, the fair market value of a share of Common Stock as determined by an independent appraiser
selected in good faith by the Holder and reasonably acceptable to the Company, the fees and expenses of which shall be paid by
the Company.

 

“Trading Day”
means a day on which the New York Stock Exchange is open for trading.

 

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

 

     

     

    

 

3.            Transfer.

 

3.1       General
Restrictions. The registered Holder of this Purchase Warrant agrees by his, her or its acceptance hereof, that such Holder
will not: (a) sell, transfer, assign, pledge or hypothecate this Purchase Warrant for a period of one hundred eighty (180) days
following the Effective Date to anyone other than: (i) Benchmark Company LLC (“Benchmark”) or an underwriter
or a selected dealer participating in the Offering, or (ii) the officers or partners, registered persons or affiliates of Benchmark
or of any such underwriter or selected dealer, in each case in accordance with FINRA Conduct Rule 5110(e), and (b) cause this Purchase
Warrant or the securities issuable hereunder to be the subject of any hedging, short sale, derivative, put or call transaction
that would result in the effective economic disposition of this Purchase Warrant or the securities hereunder, except as provided
for in FINRA Rule 5110(e)(2). After 180 days after the Effective Date, transfers to others may be made subject to compliance with
or exemptions from applicable securities laws. In order to make any permitted assignment, the Holder must deliver to the Company
the assignment form attached hereto duly executed and completed, together with the Purchase Warrant and payment of all transfer
taxes, if any, payable in connection therewith. The Company shall within five (5) Business Days transfer this Purchase Warrant
on the books of the Company and shall execute and deliver a new Purchase Warrant or Purchase Warrants of like tenor to the appropriate
assignee(s) expressly evidencing the right to purchase the aggregate number of Shares purchasable hereunder or such portion of
such number as shall be contemplated by any such assignment.

 

3.2        Restrictions
Imposed by the Act. The securities evidenced by this Purchase Warrant shall not be transferred unless and until: (i) if required
by applicable law, the Company has received the opinion of counsel for the Company that the securities may be transferred pursuant
to an exemption from registration under the Act and applicable state securities laws, or (ii) a registration statement or a post-effective
amendment to the Registration Statement relating to the offer and sale of such securities has been filed by the Company and declared
effective by the U.S. Securities and Exchange Commission (the ”Commission”) and compliance with applicable
state securities law has been established.

 

4.            Reserved.

 

5.            New
Purchase Warrants to be Issued.

 

5.1       Partial
Exercise or Transfer. This Purchase Warrant may be exercised or assigned in whole or in part. In the event of the exercise
or assignment hereof in part only, upon surrender of this Purchase Warrant for cancellation, together with the duly executed exercise
or assignment form, the Company shall cause to be delivered to the Holder without charge a new Purchase Warrant of like tenor to
this Purchase Warrant in the name of the Holder evidencing the right of the Holder to purchase the number of Shares purchasable
hereunder as to which this Purchase Warrant has not been exercised or assigned.

 

5.2        Lost
Certificate. Upon receipt by the Company of evidence satisfactory to it of the loss, theft, destruction or mutilation of this
Purchase Warrant and of reasonably satisfactory indemnification or the posting of a bond, determined in the sole discretion of
the Company, the Company shall execute and deliver a new Purchase Warrant of like tenor and date. Any such new Purchase Warrant
executed and delivered as a result of such loss, theft, mutilation or destruction shall constitute a substitute contractual obligation
on the part of the Company.

 

     

     

    

 

6.            Adjustments.

 

6.1           Adjustments
to Exercise Price and Number of Securities. The Exercise Price and the number of Shares underlying the Purchase Warrant shall
be subject to adjustment from time to time as hereinafter set forth:

 

6.1.1       Share
Dividends; Split Ups. If, after the date hereof, and subject to the provisions of Section 6.3 below, the number of outstanding
Shares is increased by a stock dividend payable in Shares or by a split up of Shares or other similar event, then, on the effective
day thereof, the number of Shares purchasable hereunder shall be increased in proportion to such increase in outstanding Shares,
and the Exercise Price shall be proportionately decreased.

 

6.1.2        Aggregation
of Shares. If, after the date hereof, and subject to the provisions of Section 6.3 below, the number of outstanding Shares
is decreased by a consolidation, combination or reclassification of Shares or other similar event, then, on the effective date
thereof, the number of Shares purchasable hereunder shall be decreased in proportion to such decrease in outstanding Shares, and
the Exercise Price shall be proportionately increased.

 

6.1.3        Replacement
of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding Shares other than
a change covered by Section 6.1.1 or 6.1.2 hereof or that solely affects the par value of such Shares, or in the case of any share
reconstruction or amalgamation or consolidation or merger of the Company with or into another corporation (other than a consolidation
or share reconstruction or amalgamation or merger in which the Company is the continuing corporation and that does not result in
any reclassification or reorganization of the outstanding Shares), or in the case of any sale or conveyance to another corporation
or entity of the property of the Company as an entirety or substantially as an entirety in connection with which the Company is
dissolved, the Holder of this Purchase Warrant shall have the right thereafter (until the expiration of the right of exercise of
this Purchase Warrant) to receive upon the exercise hereof, for the same aggregate Exercise Price payable hereunder immediately
prior to such event, the kind and amount of shares of stock or other securities or property (including cash) receivable upon such
reclassification, reorganization, share reconstruction or amalgamation, or consolidation, or upon a dissolution following any such
sale or transfer, by a Holder of the number of Shares of the Company obtainable upon exercise of this Purchase Warrant immediately
prior to such event; and if any reclassification also results in a change in Shares covered by Section 6.1.1 or 6.1.2, then such
adjustment shall be made pursuant to Sections 6.1.1, 6.1.2 and this Section 6.1.3. The provisions of this Section 6.1.3 shall similarly
apply to successive reclassifications, reorganizations, share reconstructions or amalgamations, or consolidations, sales or other
transfers.

 

6.1.4        Changes
in Form of Purchase Warrant. This form of Purchase Warrant need not be changed because of any change pursuant to this Section
6.1, and Purchase Warrants issued after such change may state the same Exercise Price and the same number of Shares as are stated
in the Purchase Warrants initially issued pursuant to this Agreement. The acceptance by any Holder of the issuance of new Purchase
Warrants reflecting a required or permissive change shall not be deemed to waive any rights to an adjustment occurring after the
Commencement Date or the computation thereof.

 

6.2        Substitute
Purchase Warrant. In case of any consolidation of the Company with, or share reconstruction or amalgamation or merger of the
Company with or into, another corporation (other than a consolidation or share reconstruction or amalgamation or merger which does
not result in any reclassification or change of the outstanding Shares), the corporation formed by such consolidation or share
reconstruction or amalgamation shall execute and deliver to the Holder a supplemental Purchase Warrant providing that the holder
of each Purchase Warrant then outstanding or to be outstanding shall have the right thereafter (until the stated expiration of
such Purchase Warrant) to receive, upon exercise of such Purchase Warrant, the kind and amount of shares of stock and other securities
and property receivable upon such consolidation or share reconstruction or amalgamation, by a holder of the number of Shares of
the Company for which such Purchase Warrant might have been exercised immediately prior to such consolidation, share reconstruction
or amalgamation or merger, sale or transfer. Such supplemental Purchase Warrant shall provide for adjustments which shall be identical
to the adjustments provided for in this Section 6. The above provision of this Section shall similarly apply to successive consolidations
or share reconstructions or amalgamations or mergers.

 

     

     

    

 

6.3        Elimination
of Fractional Interests. The Company shall not be required to issue certificates representing fractions of Shares upon the
exercise of the Purchase Warrant, nor shall it be required to issue scrip or pay cash in lieu of any fractional interests, it being
the intent of the parties that all fractional interests shall be eliminated by rounding any fraction up or down, as the case may
be, to the nearest whole number of Shares or other securities, properties or rights.

 

7.            Reservation.
The Company shall at all times reserve and keep available out of its authorized Shares, solely for the purpose of issuance upon
exercise of the Purchase Warrants, such number of Shares or other securities, properties or rights as shall be issuable upon the
exercise thereof. The Company covenants and agrees that, upon exercise of the Purchase Warrants and payment of the Exercise Price
therefor, in accordance with the terms hereby, all Shares and other securities issuable upon such exercise shall be duly and validly
issued, fully paid and non-assessable and not subject to preemptive rights of any shareholder.

 

8.            Certain
Notice Requirements.

 

8.1       Holder’s
Right to Receive Notice. Nothing herein shall be construed as conferring upon the Holders the right to vote or consent or to
receive notice as a shareholder for the election of directors or any other matter, or as having any rights whatsoever as a shareholder
of the Company. If, however, at any time prior to the expiration of the Purchase Warrants and their exercise, any of the events
described in Section 8.2 shall occur, then, in one or more of said events, the Company shall deliver to each Holder a copy of each
notice relating to such events given to the other shareholders of the Company at the same time and in the same manner that such
notice is given to the shareholders.

 

8.2        Events
Requiring Notice. The Company shall be required to give the notice described in this Section 8 upon one or more of the following
events: (i) if the Company shall take a record of the holders of its Shares for the purpose of entitling them to receive a dividend
or distribution payable otherwise than in cash, or a cash dividend or distribution payable otherwise than out of retained earnings,
as indicated by the accounting treatment of such dividend or distribution on the books of the Company, or (ii) the Company shall
offer to all the holders of its Shares any additional shares of capital stock of the Company or securities convertible into or
exchangeable for shares of capital stock of the Company, or any option, right or warrant to subscribe therefor.

 

8.3        Notice
of Change in Exercise Price. The Company shall, promptly after an event requiring a change in the Exercise Price pursuant to
Section 6 hereof, send notice to the Holders of such event and change (“Price Notice”). The Price Notice shall
describe the event causing the change and the method of calculating same.

 

8.4        Transmittal
of Notices. All notices, requests, consents and other communications under this Purchase Warrant shall be in writing and shall
be deemed to have been duly made when hand delivered, or mailed by express mail or private courier service: (i) if to the registered
Holder of the Purchase Warrant, to the address of such Holder as shown on the books of the Company, or (ii) if to the Company,
to following address or to such other address as the Company may designate by notice to the Holders:

 

If to the Holder:

 

Benchmark Company LLC

150 E. 58th Street, 17th floor

New York, NY 10155

Attention: President

 

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

Schiff Hardin LLP

901 K Street, NW, Suite 700

Washington, DC 20001

Attn: Ralph V. De Martino, Esq.

Fax No.:  (202) 778-6460

 

     

     

    

 

If to the Company:

 

Tenon Medical, Inc.

104 Cooper Court

Los Gatos, CA 95032

Attention: [●]

 

With copies to (which shall not constitute
notice):

 

Carmel, Milazzo & Feil LLP

55 West 39th Street, 18th Floor

New York, New York 10018

[___]

Attention: [___], Esq.

 

9.            Miscellaneous.

 

9.1       Amendments.
The Company and Benchmark may from time to time supplement or amend this Purchase Warrant without the approval of any of the Holders
in order to cure any ambiguity, to correct or supplement any provision contained herein that may be defective or inconsistent with
any other provisions herein, or to make any other provisions in regard to matters or questions arising hereunder that the Company
and Benchmark may deem necessary or desirable and that the Company and Benchmark deem shall not adversely affect the interest of
the Holders. All other modifications or amendments shall require the written consent of and be signed by (i) the Company and (ii)
the Holder(s) of Purchase Warrants then-exercisable for at least a majority of the Shares then-exercisable pursuant to all then-outstanding
Purchase Warrants.

 

9.2        Headings.
The headings contained herein are for the sole purpose of convenience of reference, and shall not in any way limit or affect the
meaning or interpretation of any of the terms or provisions of this Purchase Warrant.

 

9.3.        Entire
Agreement. This Purchase Warrant (together with the other agreements and documents being delivered pursuant to or in connection
with this Purchase Warrant) constitutes the entire agreement of the parties hereto with respect to the subject matter hereof, and
supersedes all prior agreements and understandings of the parties, oral and written, with respect to the subject matter hereof.

 

9.4        Binding
Effect. This Purchase Warrant shall inure solely to the benefit of and shall be binding upon, the Holder and the Company and
their permitted assignees, respective successors, legal representative and assigns, and no other person shall have or be construed
to have any legal or equitable right, remedy or claim under or in respect of or by virtue of this Purchase Warrant or any provisions
herein contained.

 

9.5        Governing
Law; Submission to Jurisdiction; Trial by Jury. This Purchase Warrant shall be governed by and construed and enforced in accordance
with the laws of the State of New York, without giving effect to conflict of laws principles thereof. The Company hereby agrees
that any action, proceeding or claim against it arising out of, or relating in any way to this Purchase Warrant shall be brought
and enforced in the courts located in New York, New York, or in the United States District Court located in New York, New York,
and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. The Company hereby waives any objection to
such exclusive jurisdiction and that such courts represent an inconvenient forum. Any process or summons to be served upon the
Company may be served by transmitting a copy thereof by registered or certified mail, return receipt requested, postage prepaid,
addressed to it at the address set forth in Section 8 hereof. Such mailing shall be deemed personal service and shall be legal
and binding upon the Company in any action, proceeding or claim. The Company and the Holder agree that the prevailing party(ies)
in any such action shall be entitled to recover from the other party(ies) all of its reasonable attorneys’ fees and expenses
relating to such action or proceeding and/or incurred in connection with the preparation therefor. The Company (on its behalf and,
to the extent permitted by applicable law, on behalf of its stockholders and affiliates) and the Holder hereby irrevocably waive,
to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or
relating to this Agreement or the transactions contemplated hereby.

 

     

     

    

 

9.6        Waiver,
etc. The failure of the Company or the Holder to at any time enforce any of the provisions of this Purchase Warrant shall not
be deemed or construed to be a waiver of any such provision, nor to in any way affect the validity of this Purchase Warrant or
any provision hereof or the right of the Company or any Holder to thereafter enforce each and every provision of this Purchase
Warrant. No waiver of any breach, non-compliance or non-fulfillment of any of the provisions of this Purchase Warrant shall be
effective unless set forth in a written instrument executed by the party or parties against whom or which enforcement of such waiver
is sought; and no waiver of any such breach, non-compliance or non-fulfillment shall be construed or deemed to be a waiver of any
other or subsequent breach, non-compliance or non-fulfillment.

 

9.7        Exchange
Agreement. As a condition of the Holder’s receipt and acceptance of this Purchase Warrant, Holder agrees that, at any
time prior to the complete exercise of this Purchase Warrant by Holder, if the Company and Benchmark enter into an agreement (“Exchange
Agreement”) pursuant to which they agree that all outstanding Purchase Warrants will be exchanged for securities or cash
or a combination of both, then Holder shall agree to such exchange and become a party to the Exchange Agreement.

 

[Signature Page Follows]

 

     

     

    

 

IN WITNESS WHEREOF, the Company has caused this
Purchase Warrant to be signed by its duly authorized officer as of the [●] day of [●], 2021.

 

Tenon Medical, Inc.

 

	By: 	 	 
	 	Name: 	 
	 	Title: 	 

 

     

     

    

 

[Form to be used to exercise Purchase Warrant]

 

Date: __________, 20___

 

The undersigned
hereby elects irrevocably to exercise the Purchase Warrant for ______ shares of common stock, par value $0.00001 per share (the
“Shares”), of Tenon Medical, Inc., a Delaware corporation (the “Company”), and hereby makes
payment of $____ (at the rate of $____ per Share) in payment of the Exercise Price pursuant thereto. Please issue the Shares as
to which this Purchase Warrant is exercised in accordance with the instructions given below and, if applicable, a new Purchase
Warrant representing the number of Shares for which this Purchase Warrant has not been exercised.

 

or

 

The undersigned
hereby elects irrevocably to convert its right to purchase ___ Shares of the Company under the Purchase Warrant for ______ Shares,
as determined in accordance with the following formula:

 

	X	=	Y(A-B)
	A

	Where,	 	 	 
	 	X	=	The number of Shares to be issued to Holder;
	 	Y	=	The number of Shares for which the Purchase Warrant is being exercised;
	 	A	=	The fair market value of one Share which is equal to $_____; and
	 	B	=	The Exercise Price which is equal to $______ per share
	 	 	 	 	 	 	 

The undersigned
agrees and acknowledges that the calculation set forth above is subject to confirmation by the Company and any disagreement with
respect to the calculation shall be resolved by the Company in its sole discretion.

 

Please issue
the Shares as to which this Purchase Warrant is exercised in accordance with the instructions given below and, if applicable, a
new Purchase Warrant representing the number of Shares for which this Purchase Warrant has not been converted.

 

Signature _______________________________________

 

Signature Guaranteed ______________________________

 

     

     

    

 

INSTRUCTIONS FOR REGISTRATION OF SECURITIES

 

Name: _______________________________________

(Print in Block Letters)

 

Address: ____________________________________

 

____________________________________

 

____________________________________

  

NOTICE: The signature to
this form must correspond with the name as written upon the face of the Purchase Warrant without alteration or enlargement or any
change whatsoever, and must be guaranteed by a bank, other than a savings bank, or by a trust company or by a firm having membership
on a registered national securities exchange.

 

     

     

    

 

[Form to be used to assign Purchase Warrant]

 

ASSIGNMENT

 

(To be executed by the registered Holder to
effect a transfer of the within Purchase Warrant):

 

FOR VALUE RECEIVED, __________________ does
hereby sell, assign and transfer unto the right to purchase shares of Common Stock, par value $0.00001 per share, of Tenon Medical,
Inc., a Delaware corporation (the “Company”), evidenced by the Purchase Warrant and does hereby authorize the
Company to transfer such right on the books of the Company.

 

Dated: __________, 20__

 

Signature ______________________________________

 

Signature Guaranteed _____________________________

 

NOTICE: The signature to this form must correspond with the name
as written upon the face of the within Purchase Warrant without alteration or enlargement or any change whatsoever, and must be
guaranteed by a bank, other than a savings bank, or by a trust company or by a firm having membership on a registered national
securities exchange.

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