Document:

Exhibit
10.1

 

PURCHASE AGREEMENT

 

THIS PURCHASE AGREEMENT
(the “Agreement”), dated as of March 15, 2022, is made by and between VYNE THERAPEUTICS, INC., a Delaware corporation
(the “Company”), and LINCOLN PARK CAPITAL FUND, LLC, an Illinois limited liability company (the “Investor”).

 

WHEREAS:

 

Subject to the terms and conditions
set forth in this Agreement, the Company wishes to sell to the Investor, and the Investor wishes to buy from the Company, up to Thirty
Million Dollars ($30,000,000) of the Company’s common stock, $0.0001 par value per share (the “Common Stock”).
The shares of Common Stock to be purchased hereunder are referred to herein as the “Purchase Shares.”

 

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

 

		1.	CERTAIN DEFINITIONS.

 

For purposes of this Agreement,
the following terms shall have the following meanings:

 

(a)               
“Accelerated Purchase Date” means, with respect to any Accelerated Purchase made pursuant to Section
2(b) hereof, the Business Day immediately following the applicable Purchase Date with respect to the corresponding Regular Purchase
referred to in Section 2(b) hereof.

 

(b)              
 “Accelerated Purchase Minimum Price Threshold” means, with respect to any Accelerated Purchase made
pursuant to Section 2(b) hereof, any minimum per share price threshold set forth by the Company in the applicable Accelerated Purchase
Notice.

 

(c)               
“Accelerated Purchase Notice” means, with respect to an Accelerated Purchase made pursuant to Section
2(b) hereof, an irrevocable written notice from the Company to the Investor directing the Investor to purchase the applicable Accelerated
Purchase Share Amount at the Accelerated Purchase Price on the Accelerated Purchase Date for such Accelerated Purchase in accordance with
this Agreement, and specifying any Additional Accelerated Purchase Minimum Price Threshold determined by the Company.

 

(d)                “Accelerated
Purchase Price” means, with respect to an Accelerated Purchase made pursuant to Section 2(b) hereof, the lower of
ninety-six percent (96%) of (i) the VWAP for the period beginning at 9:30:01 a.m., Eastern time, on the applicable Accelerated
Purchase Date, or such other time publicly announced by the Principal Market as the official open (or commencement) of trading on
the Principal Market on such applicable Accelerated Purchase Date (the “Accelerated Purchase Commencement Time”),
and ending at the earliest of (A) 4:00:00 p.m., Eastern time, on such applicable Accelerated Purchase Date, or such other time
publicly announced by the Principal Market as the official close of trading on the Principal Market on such applicable Accelerated
Purchase Date, (B) such time, from and after the Accelerated Purchase Commencement Time for such Accelerated Purchase, that the
total number (or volume) of shares of Common Stock traded on the Principal Market has exceeded the applicable Accelerated Purchase
Share Volume Maximum, and (C) such time, from and after the Accelerated Purchase Commencement Time for such Accelerated Purchase,
that the Sale Price has fallen below the applicable Accelerated Purchase Minimum Price Threshold (such earliest of (i)(A), (i)(B)
and (i)(C) above, the “Accelerated Purchase Termination Time”), and (ii) the Closing Sale Price of the Common
Stock on such applicable Accelerated Purchase Date (to be appropriately adjusted for any reorganization, recapitalization, non-cash
dividend, stock split, reverse stock split or other similar transaction).

 

     

     

    

 

(e)               
“Accelerated Purchase Share Amount” means, with respect to an Accelerated Purchase made pursuant to Section
2(b) hereof, the number of Purchase Shares directed by the Company to be purchased by the Investor in an Accelerated Purchase Notice,
which number of Purchase Shares shall not exceed the lesser of (i) 300% of the number of Purchase Shares directed by the Company to be
purchased by the Investor pursuant to the corresponding Regular Purchase Notice for the corresponding Regular Purchase referred to in
Section 2(b) hereof (subject to the Purchase Share limitations contained in Section 2(a) hereof) and (ii) an amount equal
to (A) the Accelerated Purchase Share Percentage multiplied by (B) the total number (or volume) of shares of Common Stock traded on the
Principal Market during the period on the applicable Accelerated Purchase Date beginning at the Accelerated Purchase Commencement Time
for such Accelerated Purchase and ending at the Accelerated Purchase Termination Time for such Accelerated Purchase.

 

(f)                
“Accelerated Purchase Share Percentage” means, with respect to an Accelerated Purchase made pursuant
to Section 2(b) hereof, thirty percent (30%).

 

(g)               
“Accelerated Purchase Share Volume Maximum” means, with respect to an Accelerated Purchase made pursuant
to Section 2(b) hereof, a number of shares of Common Stock equal to (i) the applicable Accelerated Purchase Share Amount properly
directed by the Company to be purchased by the Investor in the applicable Accelerated Purchase Notice for such Accelerated Purchase, divided
by (ii) the Accelerated Purchase Share Percentage (to be appropriately adjusted for any reorganization, recapitalization, non-cash dividend,
stock split, reverse stock split or other similar transaction).

 

(h)               
“Additional Accelerated Purchase Date” means, with respect to an Additional Accelerated Purchase made
pursuant to Section 2(c) hereof, the Business Day (i) that is the Accelerated Purchase Date with respect to the corresponding Accelerated
Purchase referred to in Section 2(b) hereof and (ii) on which the Investor receives, prior to 1:00 p.m., Eastern time, on such
Business Day, a valid Additional Accelerated Purchase Notice for such Additional Accelerated Purchase in accordance with this Agreement.

 

(i)                
 “Additional Accelerated Purchase Minimum Price Threshold” means, with respect to an Additional Accelerated
Purchase made pursuant to Section 2(c) hereof, any minimum per share price threshold set forth by the Company in the applicable
Additional Accelerated Purchase Notice.

 

(j)                
“Additional Accelerated Purchase Notice” means, with respect to an Additional Accelerated Purchase made
pursuant to Section 2(c) hereof, an irrevocable written notice from the Company to the Investor directing the Investor to purchase
the applicable Additional Accelerated Purchase Share Amount at the Additional Accelerated Purchase Price for such Additional Accelerated
Purchase in accordance with this Agreement, and specifying any Additional Accelerated Purchase Minimum Price Threshold determined by the
Company.

 

(k)                “Additional
Accelerated Purchase Price” means, with respect to an Additional Accelerated Purchase made pursuant to Section 2(c)
hereof, the lower of ninety-six percent (96%) of (i) the VWAP for the period on the applicable Additional Accelerated Purchase Date,
beginning at the latest of (A) the applicable Accelerated Purchase Termination Time with respect to the corresponding Accelerated
Purchase referred to in Section 2(c) hereof on such Additional Accelerated Purchase Date, (B) the applicable Additional
Accelerated Purchase Termination Time with respect to the most recently completed prior Additional Accelerated Purchase on such
Additional Accelerated Purchase Date, as applicable, and (C) the time at which all Purchase Shares subject to all prior Accelerated
Purchases and Additional Accelerated Purchases (as applicable), including, without limitation, those that have been effected on the
same Business Day as the applicable Additional Accelerated Purchase Date with respect to which the applicable Additional Accelerated
Purchase relates, have theretofore been received by the Investor as DWAC Shares in accordance with this Agreement (such latest of
(i)(A), (i)(B) and (i)(C) above, the “Additional Accelerated Purchase Commencement Time”), and ending at the
earliest of (X) 4:00 p.m., Eastern time, on such Additional Accelerated Purchase Date, or such other time publicly announced by the
Principal Market as the official close of trading on the Principal Market on such Additional Accelerated Purchase Date, (Y) such
time, from and after the Additional Accelerated Purchase Commencement Time for such Additional Accelerated Purchase, that the total
number (or volume) of shares of Common Stock traded on the Principal Market has exceeded the applicable Additional Accelerated
Purchase Share Volume Maximum, and (Z) such time, from and after the Additional Accelerated Purchase Commencement Time for such
Additional Accelerated Purchase, that the Sale Price has fallen below the applicable Additional Accelerated Purchase Minimum Price
Threshold (such earliest of (i)(X), (i)(Y) and (i)(Z) above, the “Additional Accelerated Purchase Termination
Time”), and (ii) the Closing Sale Price of the Common Stock on such Additional Accelerated Purchase Date (to be
appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other
similar transaction).

 

    -2-

     

    

 

(l)                
“Additional Accelerated Purchase Share Amount” means, with respect to an Additional Accelerated Purchase
made pursuant to Section 2(c) hereof, the number of Purchase Shares directed by the Company to be purchased by the Investor on
an Additional Accelerated Purchase Notice, which number of Purchase Shares shall not exceed the lesser of (i) 300% of the number of Purchase
Shares directed by the Company to be purchased by the Investor pursuant to the corresponding Regular Purchase Notice for the corresponding
Regular Purchase referred to in Section 2(c) hereof (subject to the Purchase Share limitations contained in Section 2(a)
hereof) and (ii) an amount equal to (A) the Additional Accelerated Purchase Share Percentage multiplied by (B) the total number (or volume)
of shares of Common Stock traded on the Principal Market during the period on the applicable Additional Accelerated Purchase Date beginning
at the Additional Accelerated Purchase Commencement Time for such Additional Accelerated Purchase and ending at the Additional Accelerated
Purchase Termination Time for such Additional Accelerated Purchase.

 

(m)             
“Additional Accelerated Purchase Share Percentage” means, with respect to an Additional Accelerated Purchase
made pursuant to Section 2(c) hereof, thirty percent (30%).

 

(n)               
“Additional Accelerated Purchase Share Volume Maximum” means, with respect to an Additional Accelerated
Purchase made pursuant to Section 2(c) hereof, a number of shares of Common Stock equal to (i) the applicable Additional Accelerated
Purchase Share Amount properly directed by the Company to be purchased by the Investor in the applicable Additional Accelerated Purchase
Notice for such Additional Accelerated Purchase, divided by (ii) the Additional Accelerated Purchase Share Percentage (to be appropriately
adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction).

 

(o)               
“Alternate Adjusted Regular Purchase Share Limit” means, with respect
to a Regular Purchase made pursuant to Section 2(a) hereof, the maximum number of Purchase Shares which, taking into account the
applicable per share Purchase Price therefor calculated in accordance with this Agreement, would enable the Company to deliver to the
Investor, on the applicable Purchase Date for such Regular Purchase, a Regular Purchase Notice for a Purchase Amount equal to, or as closely
approximating without exceeding, Two Hundred Thousand Dollars ($200,000).

 

(p)               
“Available Amount” means, initially, Thirty Million Dollars ($30,000,000) in the aggregate, which amount
shall be reduced by the Purchase Amount each time the Investor purchases shares of Common Stock pursuant to Section 2 hereof.

 

    -3-

     

    

 

(q)               
 “Bankruptcy Law” means Title 11, U.S. Code, or any similar federal or state law for the relief of debtors.

 

(r)                
“Base Prospectus” means the Company’s final base prospectus, dated May 14, 2021, including the
documents incorporated by reference therein.

 

(s)                
“Business Day” means any day on which the Principal Market is open for trading, including any day on
which the Principal Market is open for trading for a period of time less than the customary time.

 

(t)                
“Closing Sale Price” means, for any security as of any date, the last closing sale price for such security
on the Principal Market as reported by the Principal Market.

 

(u)               
“Confidential Information” means any information disclosed by either party to the other party, either
directly or indirectly, in writing, orally or by inspection of tangible objects (including, without limitation, documents, prototypes,
samples, plant and equipment), which is designated, either orally or in writing, as “Confidential,” “Proprietary”
or some similar designation. Information communicated orally shall be considered Confidential Information if such information is confirmed
in writing as being Confidential Information within ten (10) Business Days after the initial disclosure. Confidential Information may
also include information disclosed to a disclosing party by third parties. Confidential Information shall not, however, include any information
which (i) was publicly known and made generally available in the public domain prior to the time of disclosure by the disclosing party;
(ii) becomes publicly known and made generally available after disclosure by the disclosing party to the receiving party through no action
or inaction of the receiving party; (iii) is already in the possession of the receiving party without confidential restriction at the
time of disclosure by the disclosing party as shown by the receiving party’s files and records immediately prior to the time of
disclosure; (iv) is obtained by the receiving party from a third party without a breach of such third party’s obligations of confidentiality;
(v) is independently developed by the receiving party without use of or reference to the disclosing party’s Confidential Information,
as shown by documents and other competent evidence in the receiving party’s possession; or (vi) is required by law to be disclosed
by the receiving party, provided that the receiving party gives the disclosing party prompt written notice of such requirement prior to
such disclosure and assistance in obtaining an order protecting the information from public disclosure.

 

(v)               
“Custodian” means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy
Law.

 

(w)             
“DTC” means The Depository Trust Company, or any successor performing substantially the same function
for the Company.

 

(x)               “DWAC Shares” means shares of Common Stock that are (i) issued in electronic form, (ii) freely tradable
and transferable and without restriction on resale and (iii) timely credited by the Company, once a DWAC notice is received, to the Investor’s
or its designee’s specified Deposit/Withdrawal at Custodian (DWAC) account with DTC under its Fast Automated Securities Transfer
(FAST) Program, or any similar program hereafter adopted by DTC performing substantially the same function.

 

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

 

(z)                
 “Fully Adjusted Regular Purchase Share Limit” means, with respect to any reorganization, recapitalization,
non-cash dividend, stock split or other similar transaction from and after the date of this Agreement, the Regular Purchase Share
Limit (as defined in Section 2(a) hereof) in effect on the applicable date of determination, after giving effect to the full
proportionate adjustment thereto made pursuant to Section 2(a) hereof for or in respect of such reorganization,
recapitalization, non-cash dividend, stock split or other similar transaction.

 

    -4-

     

    

 

(aa)            
“Initial Prospectus Supplement” means the prospectus supplement of the Company relating to the Securities,
including the accompanying Base Prospectus, to be prepared and filed by the Company with the SEC pursuant to Rule 424(b)(5) under the
Securities Act and in accordance with Section 5(a) hereof, together with all documents and information incorporated therein by
reference.

 

(bb)           
 “Material Adverse Effect” means any material adverse effect on (i) the enforceability of any Transaction
Document, (ii) the results of operations, assets, business or financial condition of the Company and its Subsidiaries (as defined below),
taken as a whole, other than any material adverse effect that resulted exclusively from (A) any change in the United States or foreign
economies or securities or financial markets in general that does not have a disproportionate effect on the Company and its Subsidiaries,
taken as a whole, (B) any change that generally affects the industry in which the Company and its Subsidiaries operate that does not have
a disproportionate effect on the Company and its Subsidiaries, taken as a whole, (C) any change arising in connection with earthquakes,
hostilities, acts of war, sabotage or terrorism or military actions or any escalation or material worsening of any such hostilities, acts
of war, sabotage or terrorism or military actions existing as of the date hereof, (D) any action taken by the Investor, its affiliates
or its or their successors and assigns with respect to the transactions contemplated by this Agreement, (E) the effect of any change in
applicable laws or accounting rules that does not have a disproportionate effect on the Company and its Subsidiaries, taken as a whole,
or (F) any change resulting from compliance with terms of this Agreement or the consummation of the transactions contemplated by this
Agreement, or (iii) the Company’s ability to perform in any material respect on a timely basis its obligations under any Transaction
Document to be performed as of the date of determination.

 

(cc)            
“Maturity Date” means the first day of the month immediately following the thirty-six (36) month anniversary
of the Commencement Date.

 

(dd)           
“PEA Period” means the period commencing at 9:30 a.m., Eastern time, on the tenth (10th) Business
Day immediately prior to the filing of any post-effective amendment to the Registration Statement (as defined herein) or New Registration
Statement (as such term is defined in the Registration Rights Agreement), and ending at 9:30 a.m., Eastern time, on the Business Day immediately
following, the effective date of any post-effective amendment to the Registration Statement (as defined herein) or New Registration Statement
(as such term is defined in the Registration Rights Agreement).

 

(ee)            
“Person” means an individual or entity including but not limited to any limited liability company, a
partnership, a joint venture, a corporation, a trust, an unincorporated organization and a government or any department or agency thereof.

 

(ff)              
 “Principal Market” means The Nasdaq Global Select Market (or any nationally recognized successor thereto);
provided, however, that in the event the Company’s Common Stock is ever listed or traded on The Nasdaq Capital Market, The Nasdaq
Global Market, the New York Stock Exchange, the NYSE American, the NYSE Arca, the OTC Bulletin Board, or the OTCQX or OTCQB operated by
the OTC Markets Group, Inc. (or any nationally recognized successor to any of the foregoing), then the “Principal Market”
shall mean such other market or exchange on which the Company’s Common Stock is then listed or traded.

 

(gg)           
“Prospectus” means the Base Prospectus, as supplemented from time to time by any Prospectus Supplement
(including the Initial Prospectus Supplement), including the documents and information incorporated by reference therein.

 

    -5-

     

    

 

(hh)           “Prospectus
Supplement” means any prospectus supplement to the Base Prospectus (including the Initial Prospectus Supplement) filed with
the SEC pursuant to Rule 424(b) under the Securities Act in connection with the transactions contemplated by this Agreement, including
the documents and information incorporated by reference therein.

 

(ii)              “Purchase
Amount” means, with respect to any Regular Purchase, any Accelerated Purchase, or any Additional Accelerated Purchase made
hereunder, as applicable, the portion of the Available Amount to be purchased by the Investor pursuant to Section 2 hereof.

 

(jj)              
“Purchase Date” means, with respect to a Regular Purchase made pursuant to Section 2(a) hereof,
the Business Day on which the Investor receives, after 4:00 p.m., Eastern time, but prior to 6:00 p.m., Eastern time, on such Business
Day, a valid Regular Purchase Notice for such Regular Purchase in accordance with this Agreement.

 

(kk)           
“Purchase Price” means, with respect to a Regular Purchase made pursuant to Section 2(a) hereof,
the lower of: (i) the lowest Sale Price on the Purchase Date for such Regular Purchase and (ii) the arithmetic average of the three (3)
lowest Closing Sale Prices for the Common Stock during the ten (10) consecutive Business Days ending on the Business Day immediately preceding
such Purchase Date for such Regular Purchase (in each case, to be appropriately adjusted for any reorganization, recapitalization, non-cash
dividend, stock split or other similar transaction that occurs on or after the date of this Agreement).

 

(ll)              
“Registration Rights Agreement” means that certain Registration Rights Agreement, of even date herewith
between the Company and the Investor.

 

(mm)       
“Registration Statement” has the meaning set forth in the Registration Rights Agreement.

 

(nn)          
“Regular Purchase Notice” means, with respect to a Regular Purchase pursuant to Section 2(a) hereof,
an irrevocable written notice from the Company to the Investor directing the Investor to buy a specified number of Purchase Shares (subject
to the Purchase Share limitations contained in Section 2(a) hereof) at the applicable Purchase Price for such Regular Purchase
in accordance with this Agreement.

 

(oo)           
“Sale Price” means any trade price for the shares of Common Stock on the Principal Market as reported
by the Principal Market.

 

(pp)           
“SEC” means the U.S. Securities and Exchange Commission.

 

(qq)           
“Securities” means, collectively, the Purchase Shares and the Commitment Shares (as defined below).

 

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

 

(ss)             
“Shelf Registration Statement” has the meaning set forth in the Registration Rights Agreement.

 

(tt)              
“Subsidiary” means any Person the Company wholly-owns or controls, or in which the Company, directly
or indirectly, owns a majority of the voting stock or similar voting interest, in each case that would be disclosable pursuant to Item
601(b)(21) of Regulation S-K promulgated under the Securities Act.

 

    -6-

     

    

 

(uu)           
 “Transaction Documents” means, collectively, this Agreement and the schedules and exhibits hereto, the
Registration Rights Agreement and the schedules and exhibits thereto.

 

(vv)           
“Transfer Agent” means  American Stock Transfer & Trust Company, LLC , or such other Person
who is then serving as the transfer agent for the Company in respect of the Common Stock.

 

(ww)        
“VWAP” means in respect of an Accelerated Purchase Date and an Additional Accelerated Purchase Date,
as applicable, the volume weighted average price of the Common Stock on the Principal Market, as reported on the Principal Market.

 

		2.	PURCHASE OF COMMON STOCK.

 

Subject to the terms and conditions
set forth in this Agreement, the Company has the right, but not the obligation, to sell to the Investor, in the Company’s sole and
absolute discretion, and the Investor has the obligation to purchase from the Company, Purchase Shares as follows:

 

(a)               Commencement
of Regular Sales of Common Stock. Beginning one Business Day following the satisfaction of the conditions set forth in Sections
7 and 8 hereof (the “Closing” and the date of satisfaction of such conditions the “Commencement
Date”) and thereafter, the Company shall have the right, but not the obligation, to direct the Investor, by its delivery
to the Investor of a Regular Purchase Notice from time to time, to purchase up to Two Hundred Thousand (200,000) Purchase Shares,
subject to adjustment as set forth below in this Section 2(a) (such maximum number of Purchase Shares, as may be adjusted from time
to time, the “Regular Purchase Share Limit”), at the Purchase Price on the Purchase Date (each such purchase a
 “Regular Purchase”); provided, however, that the Regular Purchase Share Limit shall be increased to: (i)
Three Hundred Thousand (300,000) Purchase Shares, if the Closing Sale Price of the Common Stock on the applicable Purchase Date is
not below $0.75 and (ii) Four Hundred Thousand (400,000) Purchase Shares, if the Closing Sale Price of the Common Stock on the
applicable Purchase Date is not below $1.00 (all of which share and dollar amounts shall be appropriately proportionately adjusted
for any reorganization, recapitalization, non-cash dividend, stock split or other similar transaction); provided that if,
after giving effect to the full proportionate adjustment to the Regular Purchase Share Limit therefor, the Fully Adjusted Regular
Purchase Share Limit then in effect would preclude the Company from delivering to the Investor a Regular Purchase Notice hereunder
for a Purchase Amount (calculated by multiplying (X) the number of Purchase Shares equal to the Fully Adjusted Regular Purchase
Share Limit, by (Y) the Purchase Price per Purchase Share covered by such Regular Purchase Notice on the applicable Purchase Date
therefor) equal to or greater than the Alternate Adjusted Regular Purchase Share Limit, the Regular Purchase Share Limit for such
Regular Purchase Notice shall not be fully adjusted to equal the applicable Fully Adjusted Regular Purchase Share Limit, but rather
the Regular Purchase Share Limit for such Regular Purchase Notice shall be adjusted to equal the applicable Alternate Adjusted
Regular Purchase Share Limit as of the applicable Purchase Date for such Regular Purchase Notice; and provided, further, however,
that the Investor’s committed obligation under any single Regular Purchase, other than any Regular Purchase with respect to
which an Alternate Adjusted Regular Purchase Share Limit shall apply, shall not exceed Two Million Dollars ($2,000,000) and provided, further, however,
that the parties may mutually agree at any time to increase the dollar amount of any Regular Purchase on any Purchase Date to a
dollar amount greater than the limit then in effect. If the Company delivers any Regular Purchase Notice for a Purchase Amount in
excess of the limitations contained in the immediately preceding sentence, such Regular Purchase Notice shall be void ab
initio only with respect to the extent of the amount by which the number of Purchase Shares set forth in such Regular Purchase
Notice exceeds the number of Purchase Shares which the Company is permitted to include in such Purchase Notice in accordance
herewith, and the Investor shall have no obligation to purchase such excess Purchase Shares in respect of such Regular Purchase
Notice; provided, however, that the Investor shall remain obligated to purchase the number of Purchase Shares which the
Company is permitted to include in such Regular Purchase Notice. The Company may deliver a Regular Purchase Notice to the Investor
multiple times on the same Business Day, provided the Company has not failed to deliver Purchase Shares for the most recent prior
Regular Purchase. Notwithstanding the foregoing, the Company shall not deliver any Regular Purchase Notices during the PEA
Period.

 

    -7-

     

    

 

(b)               
Accelerated Purchases. Subject to the terms and conditions of this Agreement, from and after one Business Day following
the Commencement Date, in addition to purchases of Purchase Shares as described in Section 2(a) above, the Company shall also have
the right, but not the obligation, to direct the Investor, by its delivery to the Investor of an Accelerated Purchase Notice from time
to time in accordance with this Agreement, to purchase the applicable Accelerated Purchase Share Amount at the Accelerated Purchase Price
on the Accelerated Purchase Date therefor in accordance with this Agreement (each such purchase, an “Accelerated Purchase”);
provided however, that the parties may mutually agree to increase the Accelerated Purchase Share Amount for any Accelerated Purchase.
The Company may deliver an Accelerated Purchase Notice to the Investor only on a Purchase Date on which the Company also properly submitted
a Regular Purchase Notice providing for a Regular Purchase of a number of Purchase Shares not less than the Regular Purchase Share Limit
then in effect on such Purchase Date in accordance with this Agreement (including, without limitation, giving effect to any automatic
increase to the Regular Purchase Share Limit as a result of the Closing Sale Price of the Common Stock exceeding certain thresholds set
forth in Section 2(a) above on such Purchase Date and any other adjustments to the Regular Purchase Share Limit, in each case pursuant
to Section 2(a) above). If the Company delivers any Accelerated Purchase Notice directing the Investor to purchase an amount of
Purchase Shares that exceeds the Accelerated Purchase Share Amount that the Company is then permitted to include in such Accelerated Purchase
Notice, such Accelerated Purchase Notice shall be void ab initio only with respect to the extent of the amount by which the number
of Purchase Shares set forth in such Accelerated Purchase Notice exceeds the Accelerated Purchase Share Amount that the Company is then
permitted to include in such Accelerated Purchase Notice (which shall be confirmed in an Accelerated Purchase Confirmation), and the Investor
shall have no obligation to purchase such excess Purchase Shares in respect of such Accelerated Purchase Notice; provided, however,
that the Investor shall remain obligated to purchase the Accelerated Purchase Share Amount which the Company is permitted to include in
such Accelerated Purchase Notice. Within one (1) Business Day after completion of each Accelerated Purchase Date for an Accelerated Purchase,
the Investor will provide to the Company a written confirmation of such Accelerated Purchase setting forth the applicable Accelerated
Purchase Share Amount and Accelerated Purchase Price for such Accelerated Purchase (each, an “Accelerated Purchase Confirmation”).
Notwithstanding the foregoing, the Company shall not deliver any Accelerated Purchase Notices during the PEA Period.

 

(c)                Additional
Accelerated Purchases. Subject to the terms and conditions of this Agreement, from and after one Business Day following the
Commencement Date, in addition to purchases of Purchase Shares as described in Section 2(a) and Section 2(b) above,
the Company shall also have the right, but not the obligation, to direct the Investor, by its timely delivery to the Investor of an
Additional Accelerated Purchase Notice on an Additional Accelerated Purchase Date in accordance with this Agreement, to purchase the
applicable Additional Accelerated Purchase Share Amount at the applicable Additional Accelerated Purchase Price therefor in
accordance with this Agreement (each such purchase, an “Additional Accelerated Purchase”); provided
however, that the parties may mutually agree to increase the Additional Accelerated Purchase Share Amount for any Additional
Accelerated Purchase. The Company may deliver multiple Additional Accelerated Purchase Notices to the Investor on an Additional
Accelerated Purchase Date; provided, however, that the Company may deliver an Additional Accelerated Purchase Notice
to the Investor only (i) on a Business Day that is also the Accelerated Purchase Date for an Accelerated Purchase with respect to
which the Company properly submitted to the Investor an Accelerated Purchase Notice in accordance with this Agreement on the
applicable Purchase Date for a Regular Purchase of a number of Purchase Shares not less than the Regular Purchase Share Limit then
in effect in accordance with this Agreement (including, without limitation, giving effect to any automatic increase to the Regular
Purchase Share Limit as a result of the Closing Sale Price of the Common Stock exceeding certain thresholds set forth in Section
2(a) above on such Purchase Date and any other adjustments to the Regular Purchase Share Limit, in each case pursuant to Section
2(a) above), and (ii) if all Purchase Shares subject to all prior Regular Purchases, Accelerated Purchases and Additional
Accelerated Purchases, including, without limitation, those that have been effected on the same Business Day as the applicable
Additional Accelerated Purchase Date with respect to which the applicable Additional Accelerated Purchase relates, in each case have
theretofore been received by the Investor as DWAC Shares in accordance with this Agreement. If the Company delivers any Additional
Accelerated Purchase Notice directing the Investor to purchase an amount of Purchase Shares that exceeds the Additional Accelerated
Purchase Share Amount that the Company is then permitted to include in such Additional Accelerated Purchase Notice, such Additional
Accelerated Purchase Notice shall be void ab initio only with respect to the extent of the amount by which the number of
Purchase Shares set forth in such Additional Accelerated Purchase Notice exceeds the Additional Accelerated Purchase Share Amount
that the Company is then permitted to include in such Additional Accelerated Purchase Notice (which shall be confirmed in an
Additional Accelerated Purchase Confirmation), and the Investor shall have no obligation to purchase such excess Purchase Shares in
respect of such Additional Accelerated Purchase Notice; provided, however, that the Investor shall remain obligated to
purchase the Additional Accelerated Purchase Share Amount which the Company is permitted to include in such Additional Accelerated
Purchase Notice. Within one (1) Business Day after completion of each Additional Accelerated Purchase Date, the Investor will
provide to the Company a written confirmation of each Additional Accelerated Purchase on such Additional Accelerated Purchase Date
setting forth the applicable Additional Accelerated Purchase Share Amount and Additional Accelerated Purchase Price for each such
Additional Accelerated Purchase on such Additional Accelerated Purchase Date (each, an “Additional Accelerated Purchase
Confirmation”). Notwithstanding the foregoing, the Company shall not deliver any Additional Accelerated Purchase Notices
during the PEA Period.

 

    -8-

     

    

 

(d)               
Compliance with Principal Market Rules. Notwithstanding anything in this Agreement to the contrary, and in addition
to the limitations set forth in Section 2(e), the Company shall not issue more than 11,227,637 shares (including the Commitment
Shares) of Common Stock (the “Exchange Cap”) under this Agreement, which equals 19.99% of the Company’s outstanding
shares of Common Stock as of the date hereof, unless stockholder approval is obtained to issue in excess of the Exchange Cap; provided,
however, that the foregoing limitation shall not apply if at any time the Exchange Cap is reached and at all times thereafter the
average price paid for all shares of Common Stock issued under this Agreement is equal to or greater than $0.545 (the “Minimum
Price”), a price equal to the lower of (i) the Nasdaq Official Closing Price immediately preceding the execution of this Agreement
or (ii) the arithmetic average of the five (5) Nasdaq Official Closing Prices for the Common Stock immediately preceding the execution
of this Agreement, as calculated in accordance with the rules of the Principal Market (in such circumstance, for purposes of the Principal
Market, the transaction contemplated hereby would not be “below market” and the Exchange Cap would not apply). Notwithstanding
the foregoing, the Company shall not be required or permitted to issue, and the Investor shall not be required to purchase, any shares
of Common Stock under this Agreement if such issuance would violate the rules or regulations of the Principal Market. The Company may,
in its sole discretion, determine whether to obtain stockholder approval to issue more than 19.99% of its outstanding shares of Common
Stock hereunder if such issuance would require stockholder approval under the rules or regulations of the Principal Market. The Exchange
Cap shall be reduced, on a share-for-share basis, by the number of shares of Common Stock issued or issuable that may be aggregated with
the transactions contemplated by this Agreement under applicable rules of the Principal Market.

 

(e)                Payment
for Purchase Shares. For each Regular Purchase, the Investor shall pay to the Company an amount equal to the Purchase Amount
with respect to such Regular Purchase, as applicable, as full payment for such Purchase Shares via wire transfer of immediately
available funds on the same Business Day that the Investor receives such Purchase Shares, if such Purchase Shares are received by
the Investor before 1:00 p.m., Eastern time, or, if such Purchase Shares are received by the Investor after 1:00 p.m., Eastern time,
the next Business Day. Within one (1) Business Day after completion of each Accelerated Purchase Date for an Accelerated Purchase or
Additional Accelerated Purchase, respectively, the Investor will provide to the Company an Accelerated Purchase Confirmation. For
each Accelerated Purchase and each Additional Accelerated Purchase, the Investor shall pay to the Company an amount equal to the
Purchase Amount with respect to such Accelerated Purchase and Additional Accelerated Purchase, respectively, as full payment for
such Purchase Shares via wire transfer of immediately available funds on the second Business Day following the date that the
Investor receives such Purchase Shares. If the Company or the Transfer Agent shall fail for any reason or for no reason to
electronically transfer any Purchase Shares as DWAC Shares with respect to any Regular Purchase, Accelerated Purchase or Additional
Accelerated Purchase (as applicable) within two (2) Business Days following the receipt by the Company of the Purchase Price,
Accelerated Purchase Price or Additional Accelerated Purchase Price, respectively, therefor in compliance with this Section
2(e), and if on or after such Business Day the Investor purchases (in an open market transaction or otherwise) shares of Common
Stock to deliver in satisfaction of a sale by the Investor of such Purchase Shares that the Investor anticipated receiving from the
Company in respect of such Regular Purchase, Accelerated Purchase or Additional Accelerated Purchase (as applicable), then the
Company shall, within two (2) Business Days after the Investor’s request, either (i) pay cash to the Investor in an amount
equal to the Investor’s total purchase price (including customary brokerage commissions, if any) for the shares of Common
Stock so purchased (the “Cover Price”), at which point the Company’s obligation to deliver such Purchase
Shares as DWAC Shares shall terminate, or (ii) promptly honor its obligation to deliver to the Investor such Purchase Shares as DWAC
Shares and pay cash to the Investor in an amount equal to the excess (if any) of the Cover Price over the total Purchase Amount paid
by the Investor pursuant to this Agreement for all of the Purchase Shares to be purchased by the Investor in connection with such
purchases. The Company shall not issue any fraction of a share of Common Stock upon any Regular Purchase, Accelerated Purchase or
Additional Accelerated Purchase. If the issuance would result in the issuance of a fraction of a share of Common Stock, the Company
shall round such fraction of a share of Common Stock up or down to the nearest whole share. All payments made under this Agreement
shall be made in lawful money of the United States of America or wire transfer of immediately available funds to such account as the
Company may from time to time designate by written notice in accordance with the provisions of this Agreement. Whenever any amount
expressed to be due by the terms of this Agreement is due on any day that is not a Business Day, the same shall instead be due on
the next succeeding day that is a Business Day.

 

    -9-

     

    

 

(f)                 Beneficial
Ownership Limitation. Notwithstanding anything to the contrary contained in this Agreement, the Company shall not issue or sell,
and the Investor shall not purchase or acquire, any shares of Common Stock under this Agreement which, when aggregated with all
other shares of Common Stock then beneficially owned by the Investor and its affiliates (as calculated pursuant to Section 13(d) of
the Exchange Act and Rule 13d-3 promulgated thereunder), would result in the beneficial ownership by the Investor and its affiliates
of more than 9.99% of the then issued and outstanding shares of Common Stock (the “Beneficial Ownership
Limitation”). Upon the written or oral request of the Investor, the Company shall promptly (but not later than one
Business Day) confirm orally or in writing to the Investor the number of shares of Common Stock then outstanding. The Investor and
the Company shall each cooperate in good faith in the determinations required hereby and the application hereof. Upon the written or
oral request of the Company, the Investor shall promptly (but no later than one (1) Business Day) confirm orally or in writing to
the Company whether the total number of shares beneficially held by it and its affiliates exceeds 9.0% of the total outstanding
amount of Common Stock then outstanding. The Investor’s written certification to the Company of the applicability of the
Beneficial Ownership Limitation, and the resulting effect thereof hereunder at any time, shall be conclusive with respect to the
applicability thereof and such result absent manifest error.

 

    -10-

     

    

 

		3.	INVESTOR’S REPRESENTATIONS AND WARRANTIES.

 

The Investor represents and
warrants to the Company that as of the date hereof and as of the Commencement Date:

 

(a)               
Organization, Authority. Investor is an entity duly organized, validly existing and in good standing under the laws
of the jurisdiction of its organization, with the requisite power and authority to enter into and to consummate the transactions contemplated
by this Agreement and the other Transaction Documents to which it is a party and otherwise to carry out its obligations hereunder and
thereunder.

 

(b)               
Investment Purpose. The Investor is acquiring the Securities as principal for its own account for investment only
and not with a view to or for distributing or reselling such Securities or any part thereof in violation of the Securities Act or any
applicable state securities law, has no present intention of distributing any of such Securities in violation of the Securities Act or
any applicable state securities law and has no direct or indirect arrangement or understandings with any other Persons to distribute or
regarding the distribution of such Securities in violation of the Securities Act or any applicable state securities law (this representation
and warranty not limiting the Investor’s right to sell the Securities at any time pursuant to the Registration Statement described
herein or otherwise in compliance with applicable federal and state securities laws). The Investor is acquiring the Securities hereunder
in the ordinary course of its business.

 

(c)               
Accredited Investor Status. The Investor is an “accredited investor” as that term is defined in Rule
501(a)(3) of Regulation D promulgated under the Securities Act.

 

(d)               
Information. The Investor understands that its investment in the Securities involves a high degree of risk. The Investor
(i) is able to bear the economic risk of an investment in the Securities including a total loss thereof, (ii) has such knowledge and experience
in financial and business matters that it is capable of evaluating the merits and risks of the proposed investment in the Securities and
(iii) has had an opportunity to ask questions of and receive answers from the officers of the Company concerning the financial condition
and business of the Company and other matters related to an investment in the Securities. Neither such inquiries nor any other due diligence
investigations conducted by the Investor or its representatives shall modify, amend or affect the Investor’s right to rely on the
Company’s representations and warranties contained in Section 4 below. The Investor has sought such accounting, legal and
tax advice as it has considered necessary to make an informed investment decision with respect to its acquisition of the Securities and
is not relying on any accounting, legal, tax or other advice from the Company or its officers, employees or representatives. The Investor
acknowledges and agrees that the Company neither makes nor has made any representations or warranties with respect to the transactions
contemplated hereby other than those specifically set forth in Section 4 hereof.

 

(e)               
No Governmental Review. The Investor understands that no U.S. federal or state agency or any other government or
governmental agency has passed on or made any recommendation or endorsement of the Securities or the fairness or suitability of an investment
in the Securities nor have such authorities passed upon or endorsed the merits of the offering of the Securities.

 

(f)                 Validity;
Enforcement. This Agreement and the other Transaction Documents have been duly and validly authorized, executed and delivered on
behalf of the Investor and each is a valid and binding agreement of the Investor enforceable against the Investor in accordance with
its terms, subject as to enforceability to general principles of equity and to applicable bankruptcy, insolvency, reorganization,
moratorium, liquidation and other similar laws relating to, or affecting generally, the enforcement of applicable creditors’
rights and remedies.

 

    -11-

     

    

 

(g)               
Residency. The Investor’s principal place of business is located in of the State of Illinois.

 

(h)               
No Short Selling. The Investor represents and warrants to the Company that at no time prior to the date of this Agreement
has any of the Investor, its agents, representatives or affiliates engaged in or effected, in any manner whatsoever, directly or indirectly,
any (i) “short sale” (as such term is defined in Rule 200 of Regulation SHO of the Exchange Act) of the Common Stock or (ii)
hedging transaction, which establishes a net short position with respect to the Common Stock.

 

		4.	REPRESENTATIONS AND WARRANTIES OF THE COMPANY.

 

The Company represents and
warrants to the Investor that, as of the date hereof and as of the Commencement Date:

 

(a)               
Organization and Qualification. The Company and each of its Subsidiaries is an entity duly incorporated or otherwise
organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation or organization, with the requisite
corporate power and authority to own and use its properties and assets and to carry on its business as currently conducted. Neither the
Company nor any of its Subsidiaries is in violation or default of any of the provisions of its respective certificate or articles of formation
or incorporation, bylaws or other organizational or charter documents except as would not be expected to result in a Material Adverse
Effect. Each of the Company and its Subsidiaries is duly qualified to conduct business and is in good standing as a foreign corporation
or other entity in each jurisdiction in which the nature of the business conducted or property owned by it makes such qualification necessary,
and no proceeding has been instituted in any such jurisdiction revoking, limiting or curtailing or seeking to revoke, limit or curtail
such power and authority or qualification, except where the failure to be so qualified or in good standing or such proceeding, as the
case may be, would not reasonably be expected to result in a Material Adverse Effect. The Company has no Subsidiaries except for the Subsidiaries
set forth on Exhibit 21.1 to the Company’s Annual Report on Form 10-K for the year ended December 31, 2020.

 

(b)                Authorization;
Enforcement; Validity. (i) The Company has the requisite corporate power and authority to enter into and perform its obligations
under this Agreement and each of the other Transaction Documents, and to issue the Securities in accordance with the terms hereof
and thereof, (ii) the execution and delivery of the Transaction Documents by the Company and the consummation by it of the
transactions contemplated hereby and thereby, including without limitation, the issuance of the Commitment Shares (as defined below
in Section 5(e)), the reservation for issuance and the issuance of the Purchase Shares issuable under this Agreement, have
been duly authorized by the Company’s board of directors, or a validly authorized committee thereof (collectively, the
 “Board of Directors”), and no further consent or authorization is required by the Company, its Board of Directors
or any committee thereof, or its stockholders (save to the extent provided in this Agreement), (iii) this Agreement has been, and
each other Transaction Document shall be on the Commencement Date, duly executed and delivered by the Company and (iv) this
Agreement constitutes, and each other Transaction Document upon its execution on behalf of the Company, shall constitute, the valid
and binding obligations of the Company enforceable against the Company in accordance with their terms, except as such enforceability
may be limited by general principles of equity or applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or
similar laws relating to, or affecting generally, the enforcement of creditors’ rights and remedies. The Board of Directors of
the Company has approved the resolutions (the “Signing Resolutions”) to authorize this Agreement and the
transactions contemplated hereby. The Signing Resolutions are valid, in full force and effect and have not been modified or
supplemented in any respect. The Company has delivered to the Investor a true and correct copy of a unanimous written consent
adopting the Signing Resolutions executed by all of the members of the Board of Directors of the Company. Except as set forth in
this Agreement, no other approvals or consents of the Board of Directors, any other authorized committee thereof, and/or
stockholders is necessary under applicable laws and the Company’s certificate of incorporation, as amended and in effect on
the date hereof (the “Certificate of Incorporation”) and/or the Company’s bylaws in effect on the date
hereof (the “Bylaws”) to authorize the execution and delivery of this Agreement or any of the transactions
contemplated hereby, including, but not limited to, the issuance of the Commitment Shares and the
issuance of the Purchase Shares.

 

    -12-

     

    

 

(c)               
Capitalization. As of the date hereof, the authorized capital stock of the Company
consists of 150,000,000 shares of $0.0001 par value Common Stock and 20,000,000 shares of $0.0001 par value preferred stock. Except as
disclosed in the SEC Documents (as defined below), (i) no shares of the Company’s capital stock are subject to preemptive rights
or any other similar rights or any liens or encumbrances suffered or permitted by the Company, (ii) there are no outstanding debt securities,
(iii) there are no outstanding options, warrants, scrip, rights to subscribe to, calls or commitments of any character whatsoever relating
to, or securities or rights convertible into, any shares of capital stock of the Company or any of its Subsidiaries, or contracts, commitments,
understandings or arrangements by which the Company or any of its Subsidiaries is or may become bound to issue additional shares of capital
stock of the Company or any of its Subsidiaries or options, warrants, scrip, rights to subscribe to, calls or commitments of any character
whatsoever relating to, or securities or rights convertible into, any shares of capital stock of the Company or any of its Subsidiaries,
(iv) there are no agreements or arrangements under which the Company or any of its Subsidiaries is obligated to register the sale of any
of their securities under the Securities Act (except the Registration Rights Agreement and those registration rights for which a registration
statement has been filed and is effective), (v) there are no outstanding securities or instruments of the Company or any of its Subsidiaries
which contain any redemption or similar provisions, and there are no contracts, commitments, understandings or arrangements by which the
Company or any of its Subsidiaries is or may become bound to redeem a security of the Company or any of its Subsidiaries, (vi) there are
no securities or instruments containing anti-dilution or similar provisions that will be triggered by the issuance of the Securities as
described in this Agreement and (vii) the Company does not have any stock appreciation rights or “phantom stock” plans or
agreements or any similar plan or agreement. The Company has furnished to the Investor true and correct copies of the Certificate of Incorporation
and the Bylaws, each as in effect on the date hereof, and copies of any documents containing the material rights of holders of securities
convertible or exercisable for Common Stock, to the extent not filed as an exhibit to the Company’s Annual Report on Form 10-K for
the fiscal year ended December 31, 2020 or other Exchange Act reports.

 

(d)               
Issuance of Securities. Upon issuance and payment therefor in accordance with the terms and conditions of this Agreement,
the Purchase Shares shall be validly issued, fully paid and nonassessable and free from all taxes, liens, charges, restrictions, rights
of first refusal and preemptive rights with respect to the issue thereof, with the holders being entitled to all rights accorded to a
holder of Common Stock. 40,000,000 shares of Common Stock have been duly authorized and reserved for issuance upon purchase under this
Agreement as Purchase Shares. 1,667,593 shares of Common Stock (subject to equitable adjustment for any reorganization, recapitalization,
non-cash dividend, stock split or other similar transaction) have been duly authorized and reserved for issuance as Commitment Shares
(as defined below in Section 5(e)) in accordance with this Agreement. Upon issuance in accordance with the terms and conditions
of this Agreement, the Commitment Shares shall be validly issued, fully paid and nonassessable and free from all taxes, Liens, charges,
restrictions, rights of first refusal and preemptive rights with respect to the issue thereof, with the holders being entitled to all
rights accorded to a holder of Common Stock.

 

    -13-

     

    

 

(e)               
 No Conflicts. The execution, delivery and performance of the Transaction Documents by the Company and the consummation
by the Company of the transactions contemplated hereby and thereby (including, without limitation, the reservation for issuance and issuance
of the Purchase Shares and the Commitment Shares) will not (i) result in a violation of the Certificate of Incorporation, any certificate
of designations, preferences and rights of any outstanding series of preferred stock of the Company or the Bylaws or (ii) except to the
extent waived, conflict with, or constitute a default (or an event which with notice or lapse of time or both would become a default)
under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture or instrument
to which the Company or any of its Subsidiaries is a party, or result in a violation of any law, rule, regulation, order, judgment or
decree (including federal and state securities laws and regulations and the rules and regulations of the Principal Market applicable to
the Company or any of its Subsidiaries) or by which any property or asset of the Company or any of its Subsidiaries is bound or affected,
except in the case of conflicts, defaults, terminations, amendments, accelerations, cancellations and violations under clause (ii), which
would not reasonably be expected to result in a Material Adverse Effect. Neither the Company nor its Subsidiaries is in violation of any
term of or in default under its Certificate of Incorporation, any Certificate of Designation, Preferences and Rights of any outstanding
series of preferred stock of the Company or Bylaws or their organizational charter or bylaws, respectively. Neither the Company nor any
of its Subsidiaries is in violation of any term of or is in default under any material contract, agreement, mortgage, indebtedness, indenture,
instrument, judgment, decree or order or any statute, rule or regulation applicable to the Company or its Subsidiaries, except for possible
conflicts, defaults, terminations or amendments that would not reasonably be expected to have a Material Adverse Effect. The business
of the Company and its Subsidiaries is not being conducted, and shall not be conducted, in violation of any law, ordinance or regulation
of any governmental entity, except for possible violations, the sanctions for which either individually or in the aggregate would not
reasonably be expected to have a Material Adverse Effect. Except as specifically contemplated by this Agreement and as required under
the Securities Act or applicable state securities laws and the rules and regulations of the Principal Market, the Company is not required
to obtain any consent, authorization or order of, or make any filing or registration with, any court or governmental agency or any regulatory
or self-regulatory agency in order for it to execute, deliver or perform any of its obligations under or contemplated by the Transaction
Documents in accordance with the terms hereof or thereof. Except as set forth elsewhere in this Agreement, (i) all consents, authorizations,
orders, filings and registrations which the Company is required to obtain pursuant to the preceding sentence on or prior to the date hereof
or on or prior to the Commencement Date shall be obtained or effected on or prior to the date hereof and on or prior to the Commencement
Date, respectively, and (ii) all consents, authorizations, orders, filings and registrations which the Company is required to obtain pursuant
to the preceding sentence with respect to the Commencement shall be obtained or effected on or prior to the Commencement Date.

 

(f)                 SEC
Documents; Financial Statements. The Company has filed all reports, schedules, forms, statements and other documents required to
be filed by the Company under the Securities Act and the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof, for the
twelve months preceding the date hereof (or such shorter period as the Company was required by law or regulation to file such
material) (the foregoing materials, including the exhibits thereto and documents incorporated by reference therein, together with
each Prospectus, being collectively referred to herein as the “SEC Documents”) on a timely basis or has received
a valid extension of such time of filing and has filed any such SEC Documents prior to the expiration of any such extension. As of
their respective dates, the SEC Documents complied in all material respects with the requirements of the Securities Act and the
Exchange Act, as applicable. None of the SEC Documents, when filed, contained any untrue statement of a material fact or omitted to
state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the
circumstances under which they were made, not misleading. The financial statements of the Company included in the SEC Documents
comply in all material respects with applicable accounting requirements and the rules and regulations of the SEC with respect
thereto as in effect at the time of filing. Such financial statements have been prepared in accordance with United States generally
accepted accounting principles applied on a consistent basis during the periods involved (“GAAP”), except as may
be otherwise specified in such financial statements or the notes thereto and except that unaudited financial statements may not
contain all footnotes required by GAAP, and fairly present in all material respects the financial position of the Company and its
consolidated Subsidiaries as of and for the dates thereof and the results of operations and cash flows for the periods then ended,
subject, in the case of unaudited statements, to normal, immaterial, year-end audit adjustments. Except as publicly available
through the SEC’s Electronic Data Gathering, Analysis, and Retrieval system (EDGAR) or in connection with a confidential
treatment request submitted to the SEC, the Company has received no notices or correspondence from the SEC for the one year
preceding the date hereof other than SEC comment letters relating to the Company’s filings under the Exchange Act and the
Securities Act. There are no “open” SEC comments. To the Company’s knowledge, the SEC has not commenced any
enforcement proceedings against the Company or any of its Subsidiaries.

 

    -14-

     

    

 

(g)               
Absence of Certain Changes. Except as disclosed in the SEC Documents, since September 30, 2021, there has been no
material adverse change in the business, properties, operations, financial condition or results of operations of the Company or its Subsidiaries.
For purposes of this Agreement, neither a decrease in cash or cash equivalents or in the market price of the Common Stock nor losses incurred
in the ordinary course of the Company’s business shall be deemed or considered a material adverse changes. The Company has not taken
any steps, and does not currently expect to take any steps, to seek protection pursuant to any Bankruptcy Law nor does the Company or
any of its Subsidiaries have any knowledge or reason to believe that its creditors intend to initiate involuntary bankruptcy or insolvency
proceedings. The Company is financially solvent and is generally able to pay its debts as they become due.

 

(h)               
Absence of Litigation. Except as disclosed in the SEC Documents, there is no action, suit, proceeding, inquiry or
investigation before or by any court, public board, government agency, self-regulatory organization or body pending or, to the knowledge
of the Company or any of its Subsidiaries, threatened against the Company, the Common Stock or any of the Company’s or its Subsidiaries’
officers or directors in their capacities as such, which could reasonably be expected to have a Material Adverse Effect.

 

(i)                
Acknowledgment Regarding Investor’s Status. The Company acknowledges and agrees that the Investor is acting
solely in the capacity of arm’s length purchaser with respect to the Transaction Documents and the transactions contemplated hereby
and thereby. The Company further acknowledges that the Investor is not acting as a financial advisor or fiduciary of the Company (or in
any similar capacity) with respect to the Transaction Documents and the transactions contemplated hereby and thereby and any advice given
by the Investor or any of its representatives or agents in connection with the Transaction Documents and the transactions contemplated
hereby and thereby is merely incidental to the Investor’s purchase of the Securities. The Company further represents to the Investor
that the Company’s decision to enter into the Transaction Documents has been based solely on the independent evaluation by the Company
and its representatives and advisors.

 

(j)                
No Aggregated Offering. Neither the Company, nor any of its affiliates, nor any Person acting on its or their behalf
has, directly or indirectly, made any offers or sales of any security or solicited any offers to buy any security, under circumstances
that would cause this offering of the Securities to be integrated or aggregated with prior offerings by the Company in a manner that would
require stockholder approval pursuant to the rules of the Principal Market on which any of the securities of the Company are listed or
designated. The issuance and sale of the Commitment Shares hereunder does not, and subject to the terms of this Agreement, the issuance
and sale of the additional Purchase Shares will not, contravene the rules and regulations of the Principal Market.

 

    -15-

     

    

 

(k)               
 Intellectual Property Rights. Except as disclosed in the SEC Documents, the Company and its Subsidiaries own or
possess adequate rights or licenses to use all material trademarks, trade names, service marks, service mark registrations, service names,
patents, patent rights, copyrights, inventions, licenses, approvals, governmental authorizations, trade secrets and rights necessary to
conduct their respective businesses as now conducted, except as such failure to own, possess or acquire such rights would not reasonably
be expected, individually or in the aggregate, to result in a Material Adverse Effect. None of the Company’s material trademarks,
trade names, service marks, service mark registrations, service names, patents, patent rights, copyrights, inventions, licenses, approvals,
government authorizations, trade secrets or other intellectual property rights have expired or terminated, or, by the terms and conditions
thereof, could expire or terminate within two years from the date of this Agreement, except as would not reasonably be expected, individually
or in the aggregate, to have a Material Adverse Effect. Except as set forth in the SEC Documents, the Company and its Subsidiaries do
not have any knowledge of any infringement by the Company or its Subsidiaries of any material trademark, trade name rights, patents, patent
rights, copyrights, inventions, licenses, service names, service marks, service mark registrations, trade secret or other similar rights
of others, or of any such development of similar or identical trade secrets or technical information by others, and there is no claim,
action or proceeding that has been brought against, or to the Company’s knowledge, being threatened against, the Company or its
Subsidiaries regarding trademark, trade name, patents, patent rights, invention, copyright, license, service names, service marks, service
mark registrations, trade secret or other infringement, which would reasonably be expected to have a Material Adverse Effect.

 

(l)                
Environmental Laws. Except as set for in the SEC Documents, the Company and its Subsidiaries (i) are in compliance
with any and all applicable foreign, federal, state and local laws and regulations relating to the protection of human health and safety,
the environment or hazardous or toxic substances or wastes, pollutants or contaminants (“Environmental Laws”), (ii)
have received all permits, licenses or other approvals required of them under applicable Environmental Laws to conduct their respective
businesses and (iii) are in compliance with all terms and conditions of any such permit, license or approval, except where, in each of
the three foregoing clauses, the failure to so comply would not reasonably be expected to have, individually or in the aggregate, a Material
Adverse Effect.

 

(m)             
Title. Except as set forth in the SEC Documents, the Company and its Subsidiaries have good and marketable title
in fee simple to all real property owned by them and good and marketable title in all personal property owned by them that is material
to the business of the Company and its Subsidiaries, taken as a whole, in each case free and clear of all liens, encumbrances and defects
(“Liens”) and, except for Liens as do not materially affect the value of such property and do not materially interfere
with the use made and proposed to be made of such property by the Company and its Subsidiaries and Liens for the payment of federal, state
or other taxes, the payment of which is neither delinquent nor subject to penalties, and Liens that would not reasonably be expected,
individually or in the aggregate, to result in a Material Adverse Effect. Any real property and facilities held under lease by the Company
and its Subsidiaries are held by them under valid, subsisting and enforceable leases with which the Company and its Subsidiaries are in
compliance with such exceptions as are not material and do not interfere with the use made and proposed to be made of such property and
buildings by the Company and its Subsidiaries, taken as a whole, except for such interference which would not reasonably be expected,
individually or in the aggregate, to have a Material Adverse Effect.

 

(n)                Insurance.
The Company and each of its Subsidiaries are insured by insurers of recognized financial responsibility against such losses and
risks and in such amounts as management of the Company believes to be prudent and customary in the businesses in which the Company
and its Subsidiaries are engaged. Neither the Company nor any such Subsidiary has been refused any insurance coverage sought or
applied for and neither the Company nor any such Subsidiary has any reason to believe that it will not be able to renew its existing
insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to
continue its business at a cost that would not materially and adversely affect the condition, financial or otherwise, or the
earnings, business or operations of the Company and its Subsidiaries, taken as a whole.

 

    -16-

     

    

 

 

(o)             Regulatory
Permits. Except as disclosed in the SEC Documents, the Company and its Subsidiaries possess all material certificates, authorizations
and permits issued by the appropriate federal, state or foreign regulatory authorities necessary to conduct their respective businesses
as currently conducted, except where the failure to possess such certificates, authorizations, or permits would not reasonably be expected
to have a Material Adverse Effect, and neither the Company nor any such Subsidiary has received any written notice of proceedings relating
to the revocation or modification of any such material certificate, authorization or permit.

 

(p)               
Tax Status. Except as disclosed in the SEC Documents, the Company and each of its Subsidiaries has made or filed
all federal, state, local or foreign income and all other material tax returns, reports and declarations required by any jurisdiction
to which it is subject (unless and only to the extent that the Company and each of its Subsidiaries has set aside on its books provisions
reasonably adequate for the payment of all unpaid and unreported taxes) and has paid all taxes and other governmental assessments and
charges that are material in amount, shown or determined to be due on such returns, reports and declarations, except those being contested
in good faith and has set aside on its books provision reasonably adequate for the payment of all taxes for periods subsequent to the
periods to which such returns, reports or declarations apply, and except as would not reasonably be expected to have a Material Adverse
Effect. To the Company’s knowledge, there are no unpaid taxes in any material amount claimed to be due by the taxing authority of
any jurisdiction.

 

(q)              Transactions
With Affiliates. Except as disclosed in the SEC Documents, to the Company’s knowledge,
none of the Company’s stockholders, officers or directors or any family member or affiliate of any of the foregoing, has either
directly or indirectly an interest in, or is a party to, any transaction that would be required to be disclosed as a related party transaction
pursuant to Item 404 of Regulation S-K promulgated under the Securities Act.

 

(r)                
Application of Takeover Protections. The Company and its board of directors have taken or will take prior to the
Commencement Date all necessary action, if any, in order to render inapplicable any control share acquisition, business combination, poison
pill (including any distribution under a rights agreement) or other similar anti-takeover provision under the Certificate of Incorporation
or the laws of the state of its incorporation which is or could become applicable to the Investor as a result of the transactions contemplated
by this Agreement, including, without limitation, the Company’s issuance of the Securities and the Investor’s ownership of
the Securities.

 

(s)                 Disclosure.
Except with respect to the material terms and conditions of the transactions contemplated by the Transaction Documents or any other
agreements to be entered into by the Company and the Investor that, in each case, which shall be timely publicly disclosed by the
Company, the Company confirms that neither it nor any other Person acting on its behalf has provided the Investor or its agents or
counsel with any information that the Company believes constitutes or would reasonably constitute material, non-public information
which is not otherwise disclosed in the Registration Statement or the SEC Documents. The Company understands and confirms that the
Investor will rely on the foregoing representation in effecting purchases and sales of securities of the Company. All of the
disclosure furnished by or on behalf of the Company to the Investor regarding the Company, its business and the transactions
contemplated hereby, including the disclosure schedules to this Agreement, taken as a whole, is true and correct in all material
respects and does not contain any untrue statement of a material fact or omit to state any material fact necessary in order to make
the statements made therein, in light of the circumstances under which they were made, not misleading. The Company acknowledges and
agrees that the Investor neither makes nor has made any representations or warranties with respect to the transactions contemplated
hereby other than those specifically set forth in Section 3
hereof. 

 

    -17-

     

    

 

(t)                
Foreign Corrupt Practices. Neither the Company nor, to the knowledge of the Company, any director, officer, agent,
employee or affiliate of the Company or any Subsidiary is aware of or has taken any action, directly or indirectly, that would result
in a violation by such persons of the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder (the
 “FCPA”), including, without limitation, making use of the mails or any means or instrumentality of interstate commerce
corruptly in furtherance of an offer, payment, promise to pay or authorization of the payment of any money, or other property, gift, promise
to give, or authorization of the giving of anything of value to any “foreign official” (as such term is defined in the FCPA)
or any foreign political party or official thereof or any candidate for foreign political office, in contravention of the FCPA; and the
Company, each of its Subsidiaries and, to the knowledge of the Company, its affiliates have conducted their businesses in compliance with
the FCPA and have instituted and maintain policies and procedures reasonably designed to ensure, and which are reasonably expected to
continue to ensure, continued compliance therewith. The operations of the Company and each of its Subsidiaries are and have been conducted
at all times in compliance with applicable money laundering statutes and the rules and regulations, administered or enforced by any applicable
governmental agency, including, without limitation, Title 18 U.S. Code section 1956 and 1957, the Patriot Act, the Bank Secrecy Act, and
international anti-money laundering principles or procedures by an intergovernmental group or organization, such as the Financial Action
Task Force on Money Laundering, of which the United States is a member and with which designation the United States representative to
the group or organization continues to concur, all as amended, and any Executive order, directive or regulation pursuant to the authority
of any of the foregoing, or any orders or licenses issued thereunder (collectively, the “Money Laundering Laws”), and
no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company
or any of its Subsidiaries with respect to the Money Laundering Laws is pending or, to the knowledge of the Company, threatened. Neither
the Company nor any of its Subsidiaries, nor to the knowledge of the Company any of the directors, officers or employees, agents, affiliates
or representatives of the Company or each of its Subsidiaries, is an individual or entity that is, or is owned or controlled by an individual
or entity that is: (i) the subject of any sanctions administered or enforced by the U.S. Department of Treasury‘s Office of Foreign
Assets Control, the United Nations Security Council, the European Union, Her Majesty’s Treasury, or other relevant sanctions authority
(collectively, “Sanctions”), nor (ii) located, organized or resident in a country or territory that is the subject
of Sanctions (including, without limitation, the Balkans, Belarus, Burma/Myanmar, Cote D’Ivoire, Cuba, Democratic Republic of Congo,
Iran, Iraq, Liberia, Libya, North Korea, Sudan, Syria, Venezuela and Zimbabwe). Neither the Company nor any of its Subsidiaries will,
directly or indirectly, use the proceeds of the transactions contemplated hereby, or lend, contribute or otherwise make available such
proceeds to any subsidiary, joint venture partner or other individual or entity: (i) to fund or facilitate any activities or business
of or with any individual or entity or in any country or territory that, at the time of such funding or facilitation, is the subject of
Sanctions or (ii) in any other manner that will result in a violation of Sanctions by any individual or entity (including any individual
or entity participating in the transactions contemplated hereby, whether as underwriter, advisor, investor or otherwise). For the past
five years, neither the Company nor any of its Subsidiaries has knowingly engaged in, and is not now knowingly engaged in, any dealings
or transactions with any individual or entity, or in any country or territory, that at the time of the dealing or transaction is or was
the subject of Sanctions.

 

(u)               
DTC Eligibility. The Company, through the Transfer Agent, currently participates in the DTC Fast Automated Securities
Transfer (FAST) Program and the Common Stock can be transferred electronically to third parties via the DTC Fast Automated Securities
Transfer (FAST) Program.

 

    -18-

     

    

 

(v)               
 Sarbanes-Oxley. The Company is in material compliance with all provisions of the Sarbanes-Oxley Act of 2002, as
amended, which are applicable to it as of the date hereof.

 

(w)             
Certain Fees. No brokerage or finder’s fees or commissions are or will be payable by the Company to any broker,
financial advisor or consultant, finder, placement agent, investment banker, bank or other Person with respect to the transactions contemplated
by the Transaction Documents. The Investor shall have no obligation with respect to any fees or with respect to any claims made by or
on behalf of other Persons for fees of a type contemplated in this Section 4(w) that may be due in connection with the transactions
contemplated by the Transaction Documents.

 

(x)               
Investment Company. The Company is not required to be registered as, and immediately after receipt of payment for
the Purchase Shares will not be required to be registered as, an “investment company” within the meaning of the Investment
Company Act of 1940, as amended.

 

(y)               
Listing and Maintenance Requirements. The Common Stock is registered pursuant to Section 12(b) of the Exchange Act,
and the Company has taken no action designed to, or which to its knowledge is likely to have the effect of, terminating the registration
of the Common Stock pursuant to the Exchange Act nor has the Company received any notification that the SEC is currently contemplating
terminating such registration. The Securities have been approved for listing on the Principal Market prior to issuance. The Company has
taken no action designed to, or likely to have the effect of, delisting the Common Stock from the Principal Market, and, except as disclosed
in the SEC Documents, the Company has not received any notice from any Person to the effect that the Company is not in compliance with
the listing or maintenance requirements of the Principal Market. Except as disclosed in the SEC Documents, the Company is, and has no
reason to believe that it will not in the foreseeable future continue to be, in compliance with all such listing and maintenance requirements.

 

(z)               
Accountants. The Company’s accountants are set forth in the SEC Documents and, to the knowledge of the Company,
such accountants are an independent registered public accounting firm as required by the Securities Act.

 

(aa)            
No Market Manipulation. The Company has not, and to its knowledge no Person acting on its behalf has, (i) taken,
directly or indirectly, any action designed to cause or to result in the stabilization or manipulation of the price of any security of
the Company to facilitate the sale or resale of any of the Securities, (ii) sold, bid for, purchased, or, paid any compensation for soliciting
purchases of, any of the Securities, or (iii) paid or agreed to pay to any Person any compensation for soliciting another to purchase
any other securities of the Company in connection with the transactions contemplated in this Agreement.

 

(bb)           
Shell Company Status. The Company is not, and has never been, an issuer identified in Rule 144(i)(1) under the Securities
Act and has filed with the SEC current “Form 10 information” (as defined in Rule 144(i)(3) under the Securities Act) at least
12 calendar months prior to the date of this Agreement reflecting its status as an entity that is no longer an issuer identified in Rule
144(i)(1) under the Securities Act.

 

(cc)             No
Disqualification Events. None of the Company, any of its predecessors, any affiliated issuer, any director, executive officer,
other officer of the Company participating in the offering contemplated hereby, any beneficial owner of 20% or more of the
Company’s outstanding voting equity securities, calculated on the basis of voting power, nor any promoter (as that term is
defined in Rule 405 under the Securities Act) connected with the Company in any capacity at the time of sale (each, an
 “Issuer Covered Person”) is subject to any of the “Bad Actor” disqualifications described in Rule
506(d)(1)(i) to (viii) under the Securities Act (a “Disqualification Event”), except for a Disqualification Event
covered by Rule 506(d)(2) or (d)(3) under the Securities Act. The Company has exercised reasonable care to determine whether any
Issuer Covered Person is subject to a Disqualification Event.

 

    -19-

     

    

 

(dd)           
Registration Statement. The Company has prepared and filed the Shelf Registration Statement with the SEC in accordance
with the Securities Act. The Shelf Registration Statement was declared effective by order of the SEC on May 14, 2021. The Shelf Registration
Statement is effective pursuant to the Securities Act and available for the issuance of the Securities thereunder. No stop order suspending
the effectiveness of the Shelf Registration Statement has been issued by the SEC, and no proceeding for that purpose or pursuant to Section
8A of the Securities Act against the Company or related to the offering of the Securities has been initiated or, to the knowledge of the
Company, threatened by the SEC. The “Plan of Distribution” section of the Prospectus permits the issuance of the Securities
under the terms of this Agreement. At the time the Shelf Registration Statement and any amendments thereto became effective, at the date
of this Agreement and at each deemed effective date thereof pursuant to Rule 430B(f)(2) of the Securities Act, the Shelf Registration
Statement and any amendments thereto complied and will comply in all material respects with the requirements of the Securities Act and
did not and will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein
or necessary to make the statements therein not misleading; and the Base Prospectus and any Prospectus Supplement thereto, at the time
such Base Prospectus or such Prospectus Supplement thereto was issued and on the Commencement Date, complied and will comply in all material
respects with the requirements of the Securities Act and did not and will not contain an untrue statement of a material fact or omit to
state a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not
misleading; provided that this representation and warranty does not apply to statements in or omissions from any Prospectus Supplement
made in reliance upon and in conformity with information relating to the Investor furnished to the Company in writing by or on behalf
of the Investor expressly for use therein. The Company meets all of the requirements for the use of a registration statement on Form S-3
pursuant to the Securities Act for the offering and sale of the Securities contemplated by this Agreement in reliance on General Instruction
I.B.1, and the SEC has not notified the Company of any objection to the use of the form of the Registration Statement pursuant to Rule
401(g)(1) of the Securities Act. The Company hereby confirms that the issuance of the Securities to the Investor in accordance with this
Agreement would not result in non-compliance with the Securities Act or any of the General Instructions to Form S-3. The Registration
Statement, as of its effective date, meets the requirements set forth in Rule 415(a)(1)(x) pursuant to the Securities Act. At the earliest
time after the filing of the Registration Statement that the Company or another offering participant made a bona fide offer (within the
meaning of Rule 164(h)(2) of the Securities Act) relating to any of the Securities, the Company was, and as of the date of this Agreement
the Company is, not an Ineligible Issuer (as defined in Rule 405 of the Securities Act). The Company has not distributed any offering
material in connection with the offering, issuance and sale of any of the Securities, other than the Shelf Registration Statement or any
amendment thereto, the Prospectus or any Prospectus Supplement required pursuant to applicable law or the Transaction Documents. The Company
has not made an offer relating to the Securities that would constitute a “free writing prospectus” as defined in Rule 405
under the Securities Act.

 

(ee)            
Absence of Schedules. In the event that on the date hereof, or the Commencement Date, the Company does not deliver
any disclosure schedule contemplated by this Agreement, the Company hereby acknowledges and agrees that each such undelivered disclosure
schedule shall be deemed to read as follows: “Nothing to Disclose.”

 

    -20-

     

    

 

		5.	COVENANTS.

 

(a)               
 Filing of Current Report and Initial Prospectus Supplement. The Company agrees that it shall, within the time required
under the Exchange Act, file with the SEC a Current Report on Form 8-K relating to the transactions contemplated by, and describing the
material terms and conditions of, the Transaction Documents (the “Current Report”). The Company further agrees that
it shall, within the time required under Rule 424(b) under the Securities Act, file with the SEC the Initial Prospectus Supplement pursuant
to Rule 424(b) under the Securities Act specifically relating to the transactions contemplated by, and describing the material terms and
conditions of, the Transaction Documents, containing information previously omitted at the time of effectiveness of the Shelf Registration
Statement in reliance on Rule 430B under the Securities Act, and disclosing all information relating to the transactions contemplated
hereby required to be disclosed in the Shelf Registration Statement and the Prospectus as of the date of the Initial Prospectus Supplement,
including, without limitation, information required to be disclosed in the section captioned “Plan of Distribution” in the
Prospectus. The Investor acknowledges that it will be identified in the Initial Prospectus Supplement as an underwriter within the meaning
of Section 2(a)(11) of the Securities Act. The Company shall permit the Investor to review and comment upon the Current Report and the
Initial Prospectus Supplement at least two (2) Business Days prior to their filing with the SEC, the Company shall give due consideration
to all such comments. The Investor shall use its reasonable best efforts to provide any comments upon the Current Report and the Initial
Prospectus Supplement within one (1) Business Day from the date the Investor receives a substantially complete draft thereof from the
Company. The Investor shall furnish to the Company such information regarding itself, the Securities held by it and the intended method
of distribution thereof, including any arrangement between the Investor and any other Person relating to the sale or distribution of the
Securities, as shall be reasonably requested by the Company in connection with the preparation and filing of the Current Report and the
Initial Prospectus Supplement, and shall otherwise cooperate with the Company as reasonably requested by the Company in connection with
the preparation and filing of the Current Report and the Initial Prospectus Supplement with the SEC.

 

(b)               
Blue Sky. The Company shall take all such action, if any, as is reasonably necessary in order to obtain an exemption
for or to register or qualify (i) the issuance and the sale of the Securities to the Investor under this Agreement and (ii) any subsequent
resale of all Commitment Shares and all Purchase Shares by the Investor, in each case, under applicable securities or “Blue Sky”
laws of the states of the United States in such states as is reasonably requested by the Investor from time to time, and shall provide
evidence of any such action so taken to the Investor.

 

(c)               
Listing/DTC. The Company shall use commercially reasonable efforts to maintain, so long as any shares of Common Stock
shall be so listed, such listing of all Purchase Shares and Commitment Shares from time to time issuable hereunder. The Company shall
use commercially reasonable efforts to maintain the listing of the Common Stock on the Principal Market and shall use commercially reasonable
efforts to comply in all respects with the Company’s reporting, filing and other obligations under the bylaws or rules and regulations
of the Principal Market. The Company shall not take any action that would reasonably be expected to result in the delisting or suspension
of the Common Stock on the Principal Market. The Company shall promptly, and in no event later than the following Business Day-, provide
to the Investor copies of any notices it receives from any Person regarding the continued eligibility of the Common Stock for listing
on the Principal Market; provided, however, that the Company shall not be required to provide the Investor copies of any such notice that
the Company reasonably believes constitutes material non-public information and the Company would not be required to publicly disclose
such notice in any report or statement filed with the SEC and under the Exchange Act or the Securities Act. The Company shall pay all
fees and expenses in connection with satisfying its obligations under this Section 5(c). The Company shall take all commercially
reasonable action necessary to ensure that its Common Stock can be transferred electronically as DWAC Shares.

 

    -21-

     

    

 

(d)               
 Prohibition of Short Sales and Hedging Transactions. The Investor agrees that beginning on the date of this Agreement
and ending on the date of termination of this Agreement as provided in Section 11, the Investor and its agents, representatives and affiliates
shall not in any manner whatsoever enter into or effect, directly or indirectly, any (i) “short sale” (as such term is defined
in Rule 200 of Regulation SHO of the Exchange Act) of the Common Stock or (ii) hedging transaction, which establishes a net short position
with respect to the Common Stock.

 

(e)               
Issuance of Commitment Shares. In consideration for the Investor’s execution and delivery of this Agreement,
the Company shall cause the Transfer Agent to issue 1,667,593 shares of Common Stock (the “Commitment Shares”) directly
to the Investor in accordance with Section 6 hereto and the Irrevocable Transfer Agent Instructions. For the avoidance of doubt,
all of the Commitment Shares shall be fully earned as of the date of this Agreement, whether or not the Commencement shall occur or any
Purchase Shares are purchased by the Investor under this Agreement and irrespective of any termination of this Agreement.

 

(f)                 Due
Diligence; Non-Public Information. During the term of this Agreement, the Investor shall have the right, from time to time as
the Investor may reasonably deem appropriate, and upon reasonable advance notice to the Company, to perform reasonable due diligence
on the Company during normal business hours. The Company and its officers and employees shall provide material information and
reasonably cooperate with the Investor in connection with any reasonable request by the Investor related to the Investor’s due
diligence of the Company. Each party hereto agrees not to disclose any Confidential Information of the other party to any third
party and shall not use the Confidential Information for any purpose other than in connection with, or in furtherance of, the
transactions contemplated hereby. Each party hereto acknowledges that the Confidential Information shall remain the property of the
disclosing party and agrees that it shall take all reasonable measures to protect the secrecy of any Confidential Information
disclosed by the other party. The receiving party may disclose Confidential Information to the extent such information is required
to be disclosed by law, regulation or order of a court of competent jurisdiction or regulatory authority, provided that the
receiving party shall promptly notify the disclosing party when such requirement to disclose arises, and shall cooperate with the
disclosing party so as to enable the disclosing party to: (i) seek an appropriate protective order; and (ii) make any applicable
claim of confidentiality in respect of such Confidential Information; and provided, further, that the receiving party shall disclose
Confidential Information only to the extent required by the protective order or other similar order, if such an order is obtained,
and, if no such order is obtained, the receiving party shall disclose only the minimum amount of such Confidential Information
required to be disclosed in order to comply with the applicable law, regulation or order. In addition, any such Confidential
Information disclosed pursuant to this section shall continue to be deemed Confidential Information. Notwithstanding anything in
this Agreement to the contrary, the Company shall not be obligated to provide the Investor with any information that constitutes or
may reasonably be considered to constitute material, non-public information pursuant to a request for information hereunder, and the
Company and the Investor agree that neither the Company nor any other Person acting on its behalf shall provide the Investor or its
agents or counsel with any information that constitutes or may reasonably be considered to constitute material, non-public
information, unless a simultaneous public announcement thereof is made by the Company in the manner contemplated by Regulation FD.
In the event of a breach of the foregoing covenant by the Company or any Person acting on its behalf (as determined in the
reasonable good faith judgment of the Investor), in addition to any other remedy provided herein or in the other Transaction
Documents, if the Investor is holding any Securities at the time of the disclosure of such material non-public information, the
Investor shall have the right to make a public disclosure, in the form of a press release, public advertisement or otherwise, of
such material, non-public information without the prior approval by the Company; provided the Investor shall have first provided
notice to the Company that it believes it has received information that constitutes material, non-public information; and the
Company shall have at least two Business Days from such notice to either publicly disclose such material, non-public information or
to demonstrate to the Investor that such information does not constitute material, non-public information, and (assuming the
Investor and Investor’s counsel disagree in their reasonable good faith judgment with the Company’s determination) prior
to any such disclosure by the Investor; and the Company shall have failed to publicly disclose such material, non-public
information. The Investor shall not have any liability to the Company, any of its Subsidiaries, or any of their respective
directors, officers, employees, stockholders or agents, for any such disclosure in accordance with this Section 5(f). The
Company understands and confirms that the Investor shall be relying on the foregoing covenants in effecting transactions in
securities of the Company.

 

    -22-

     

    

 

(g)               
Purchase Records. The Investor and the Company shall each maintain records showing the remaining Available Amount
at any given time and the dates and Purchase Amounts for each Regular Purchase, Accelerated Purchase and Additional Accelerated Purchase
or shall use such other method, reasonably satisfactory to the Investor and the Company.

 

(h)               
Taxes. The Company shall pay any and all transfer, stamp or similar taxes that may be payable with respect to the
issuance and delivery of any shares of Common Stock to the Investor made under this Agreement.

 

(i)                
Use of Proceeds. The Company will use the net proceeds from the offering for any corporate purpose at the sole discretion
of the Company.

 

(j)                
Other Transactions. The Company shall not enter into, announce or recommend to its stockholders any agreement, plan,
arrangement or transaction in or of which the terms thereof would restrict, materially delay, conflict with or impair the ability or right
of the Company to perform its obligations under the Transaction Documents, including, without limitation, the obligation of the Company
to deliver the Commitment Shares to the Investor in accordance with the terms of the Transaction Documents.

 

(k)               
Aggregation. From and after the date of this Agreement, neither the Company, nor or any of its affiliates will,
and the Company shall use its reasonable efforts to ensure that no Person acting on their behalf will, directly or indirectly, make any
offers or sales of any security or solicit any offers to buy any security, under circumstances that would cause this offering of the Securities
by the Company to the Investor to be aggregated with other offerings by the Company in a manner that would require stockholder approval
pursuant to the rules of the Principal Market on which any of the securities of the Company are listed or designated, unless stockholder
approval is obtained before the closing of such subsequent transaction in accordance with the rules of such Principal Market.

 

(l)                
Limitation on Variable Rate Transactions. From and after the date of this Agreement
until the earlier of (X) thirty-six (36) month anniversary of the date of this Agreement and (Y) twelve (12) months after the date of
termination of this agreement, the Company shall be prohibited from effecting or entering into an agreement to effect any issuance by
the Company or any of its Subsidiaries of Common Stock involving a Variable Rate Transaction other than with the Investor. “Variable
Rate Transaction” includes, without limitation, an “equity line of credit” or any transaction whereby an investor
is irrevocably bound to purchase securities over a period of time from the Company at a price based on the market price of the Company’s
Common Stock at the time of each such purchase or on any floating conversion rate or involving any other variable priced equity-like securities,
provided, however, that this Section 5(l) shall not be deemed to prohibit the issuance and sale of Common Stock pursuant to an “at-the-market
offering” by the Company exclusively through a registered broker-dealer acting as agent of the Company pursuant to a written agreement
between the Company and such registered broker-dealer.

 

    -23-

     

    

 

		6.	TRANSFER AGENT INSTRUCTIONS.

 

(a) Commitment Shares.
No later than the date of the filing of the Initial Prospectus Supplement, the Company shall issue to the Transfer Agent (and any subsequent
transfer agent) irrevocable instructions, in the form agreed to prior to the date hereof (the “Irrevocable Transfer Agent Instructions”),
to issue the Commitment Shares in accordance with the terms of this Agreement. All Commitment Shares to be issued to or for the benefit
of the Investor pursuant to this Agreement shall be issued as DWAC Shares. The Company warrants to the Investor that, while the Agreement
is effective, no instruction other than the Irrevocable Transfer Agent Instructions referred to in this Section 6 will be given
by the Company to the Transfer Agent with respect to the Commitment Shares, and the Commitment Shares shall otherwise be freely transferable
on the books and records of the Company.

 

(b) Purchase Shares.
On the date of the Initial Prospectus Supplement, the Company shall issue to the Transfer Agent, and any subsequent transfer agent, irrevocable
instructions in the form agreed to prior to the date hereof (the “Commencement Irrevocable Transfer Agent Instructions”)
to issue the Purchase Shares in accordance with the terms of this Agreement and the Registration Rights Agreement. All Purchase Shares
to be issued from and after Commencement to or for the benefit of the Investor pursuant to this Agreement shall be issued only as DWAC
Shares. The Company represents and warrants to the Investor that, while this Agreement is effective, no instruction other than as contemplated
by the Commencement Irrevocable Transfer Agent Instructions and any Notice of Effectiveness of Registration Statement (as defined in the
Registration Rights Agreement) will be given by the Company to the Transfer Agent with respect to the Purchase Shares from and after Commencement,
and no instruction or other communication to the Transfer Agent with respect to the issuance of the Purchase Shares shall be made without
the approval of the Investor. The Company shall provide confirmation of receipt by the Transfer Agent of all instructions pursuant to
the Commencement Irrevocable Transfer Agent Instructions with respect to Purchase Shares within one Business Day of delivery of any Purchase
Notice. The Purchase Shares covered by the Registration Statement shall otherwise be freely transferable on the books and records of the
Company.

 

		7.	CONDITIONS TO THE COMPANY’S RIGHT TO COMMENCE SALES OF SHARES OF COMMON STOCK.

 

The right of the Company hereunder
to commence sales of Purchase Shares is subject to the satisfaction, or where legally permissible, the waiver of each of the following
conditions:

 

(a)               
The Investor shall have executed each of the Transaction Documents and delivered the same to the Company;

 

(b)             The
representations and warranties of the Investor shall be true and correct in all material respects as of the date hereof and as of the
Commencement Date as though made at that time; and

 

(c)               
No stop order with respect to the Registration Statement shall be pending or threatened by the SEC.

 

		8.	CONDITIONS TO THE INVESTOR’S OBLIGATION TO PURCHASE SHARES OF COMMON STOCK.

 

The obligation of the Investor
to buy Purchase Shares under this Agreement is subject to the satisfaction or, where legally permissible, the waiver of each of the following
conditions on or prior to the Commencement Date and, once such conditions have been initially satisfied, there shall not be any ongoing
obligation to satisfy such conditions after the Commencement has occurred:

 

(a)               
 The Company shall have executed each of the Transaction Documents and delivered the same to the Investor;

 

    -24-

     

    

 

(b)               
The Company shall have issued or caused to be issued to the Investor a number of shares of Common Stock equal to the number
of Commitment Shares as DWAC Shares, in each case in accordance with Section 6;

 

(c)               
The Common Stock shall be listed on the Principal Market, and the Company shall have filed with The Nasdaq Stock Market
a Notification Form: Listing of Additional Shares for the listing of the Securities, and Nasdaq shall have raised no objection to the
consummation of the transactions contemplated by this Agreement;

 

(d)               
The Investor shall have received the opinion and negative assurances letter of the Company’s legal counsel dated as
of the Commencement Date substantially in the forms agreed prior to the date of this Agreement by the Company’s legal counsel and
the Investor’s legal counsel;

 

(e)               
The representations and warranties of the Company shall be true and correct in all material respects (except to the extent
that any of such representations and warranties is already qualified as to materiality in Section 4 above, in which case, such
representations and warranties shall be true and correct without further qualification) as of the date hereof and as of the Commencement
Date as though made at that time (except for representations and warranties that speak as of a specific date, which shall be true and
correct in all material respects as of such date) and the Company shall have performed, satisfied and complied in all material respects
with the covenants, agreements and conditions required by the Transaction Documents to be performed, satisfied or complied with by the
Company at or prior to the Commencement Date. The Investor shall have received a certificate, executed by the CEO, President or CFO of
the Company, dated as of the Commencement Date, to the foregoing effect in the form attached hereto as Exhibit A;

 

(f)                
The Board of Directors of the Company shall have adopted Signing Resolutions which shall be in full force and effect without
any amendment or supplement thereto as of the Commencement Date;

 

(g)               
As of the Commencement Date, the Company shall have reserved out of its authorized and unissued Common Stock, solely for
the purpose of effecting purchases of Purchase Shares hereunder, 40,000,000 shares of Common Stock;

 

(h)               
 Each of the Irrevocable Transfer Agent Instructions and the Commencement Irrevocable Transfer Agent Instructions shall
have been delivered to and acknowledged in writing by the Company and the Transfer Agent (or any successor transfer agent);

 

(i)                
The Company shall have delivered to the Investor a certificate of good standing of the Company in the State of Delaware
issued by the Secretary of State of the State of Delaware and a certificate or its equivalent evidencing the good standing of the Company
issued by the Secretary of State of the State of New Jersey, in each case, as of a date within ten (10) Business Days of the Commencement
Date;

 

(j)                
The Company shall have delivered to the Investor a certified copy of the Certificate of Incorporation as certified by the
Secretary of State of the State of Delaware within ten (10) Business Days of the Commencement Date;

 

(k)               
The Company shall have delivered to the Investor a secretary’s certificate executed by the Secretary of the Company,
dated as of the Commencement Date, in the form attached hereto as Exhibit B;

 

    -25-

     

    

 

(l)                
 The Shelf Registration Statement shall continue to be effective and no stop order with respect to the Shelf Registration
Statement shall be pending or threatened by the SEC. The Company shall have a maximum dollar amount of Common Stock registered under the
Shelf Registration Statement which is sufficient to issue to the Investor not less than (i) the full Available Amount worth of Purchase
Shares plus (ii) all of the Commitment Shares. The Current Report and the Initial Prospectus Supplement each shall have been filed with
the SEC, as required pursuant to Section 5(a), and copies of the Prospectus shall have been delivered to the Investor in accordance
with the terms of the Registration Rights Agreement. The Prospectus shall be current and available for issuances and sales of all of the
Securities by the Company to the Investor. Any other Prospectus Supplements required to have been filed by the Company with the SEC under
the Securities Act at or prior to the Commencement Date shall have been filed with the SEC within the applicable time periods prescribed
for such filings under the Securities Act. All reports, schedules, registrations, forms, statements, information and other documents required
to have been filed by the Company with the SEC at or prior to the Commencement Date pursuant to the reporting requirements of the Exchange
Act shall have been filed with the SEC within the applicable time periods prescribed for such filings under the Exchange Act;

 

(m)             
No Event of Default (as defined below) has occurred, and no event which, after notice and/or lapse of time, would reasonably
be expected to become an Event of Default has occurred;

 

(n)               
The Exchange Cap has not been reached (to the extent the Exchange Cap is applicable pursuant to Section 2(d) hereof);

 

(o)               
All federal, state and local governmental laws, rules and regulations applicable to the transactions contemplated by the
Transaction Documents and necessary for the execution, delivery and performance of the Transaction Documents and the consummation of the
transactions contemplated thereby in accordance with the terms thereof shall have been complied with, and all consents, authorizations
and orders of, and all filings and registrations with, all federal, state and local courts or governmental agencies and all federal, state
and local regulatory or self-regulatory agencies necessary for the execution, delivery and performance of the Transaction Documents and
the consummation of the transactions contemplated thereby in accordance with the terms thereof shall have been obtained or made, including,
without limitation, in each case those required under the Securities Act, the Exchange Act, applicable state securities or “Blue
Sky” laws or applicable rules and regulations of the Principal Market, or otherwise required by the SEC, the Principal Market or
any state securities regulators;

 

(p)               
No statute, regulation, order, decree, writ, ruling or injunction shall have been enacted, entered, promulgated, threatened
or endorsed by any federal, state or local or foreign court or governmental authority of competent jurisdiction which prohibits the consummation
of or which would materially modify or delay any of the transactions contemplated by the Transaction Documents;

 

(q)               
No action, suit or proceeding before any federal, state, local or foreign arbitrator or any court or governmental authority
of competent jurisdiction shall have been commenced or threatened, and no inquiry or investigation by any federal, state, local or foreign
governmental authority of competent jurisdiction shall have been commenced or threatened, against the Company, or any of the officers,
directors or affiliates of the Company, seeking to restrain, prevent or change the transactions contemplated by the Transaction Documents,
or seeking material damages in connection with such transactions; and

 

(r)                
The Company shall have provided the Investor with the information requested by the Investor in connection with its due diligence
requests in accordance with the terms of Section 5(f) hereof.

 

    -26-

     

    

 

		9.	INDEMNIFICATION.

 

In consideration of the Investor’s
execution and delivery of the Transaction Documents and acquiring the Purchase Shares hereunder and in addition to all of the Company’s
other obligations under the Transaction Documents, the Company shall defend, protect, indemnify and hold harmless the Investor and all
of its affiliates, stockholders, officers, directors and employees and any of the foregoing Person’s agents or other representatives
(including, without limitation, those retained in connection with the transactions contemplated by this Agreement) (collectively, the
 “Indemnitees”) from and against any and all actions, causes of action, suits, claims, losses, costs, penalties, fees,
liabilities and damages, and reasonable expenses in connection therewith (irrespective of whether any such Indemnitee is a party to the
action for which indemnification hereunder is sought), and including reasonable and documented attorneys’ fees and disbursements
(the “Indemnified Liabilities”), incurred by any Indemnitee as a result of, or arising out of, or relating to (a) any
misrepresentation or breach of any representation or warranty made by the Company in the Transaction Documents or any other certificate,
instrument or document executed by the Company contemplated hereby or thereby, (b) any breach of any covenant, agreement or obligation
of the Company contained in the Transaction Documents or any other certificate, instrument or document executed by the Company contemplated
hereby or thereby, (c) any cause of action, suit or claim brought or made against such Indemnitee and arising out of or resulting from
the execution, delivery, performance or enforcement of the Transaction Documents or any other certificate, instrument or document contemplated
hereby or thereby, other than, in the case of clause (c) with respect to Indemnified Liabilities which directly and primarily result from
the (A) a breach of any of the Investor’s representations and warranties, covenants or agreements contained in this Agreement, or
(B) fraud, gross negligence or willful misconduct of an Indemnitee. The indemnity in this Section 9 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, conditioned or delayed. To the extent that the foregoing undertaking by the Company may be unenforceable for
any reason, the Company shall make the maximum contribution to the payment and satisfaction of each of the Indemnified Liabilities which
is permissible under applicable law. Payment under this indemnification shall be made within thirty (30) days from the date the Investor
makes written request for it. A certificate containing reasonable detail as to the amount of such indemnification submitted to the Company
by the Investor shall be conclusive evidence, absent manifest error, of the amount due from the Company to the Investor, provided that
the Indemnitee shall undertake to repay any amounts paid to it hereunder if it is ultimately determined, by a final and non-appealable
order of a court of competent jurisdiction, that the Indemnitee is not entitled to be indemnified against such Indemnified Liabilities
by the Company pursuant to this Agreement. If any action shall be brought against any Indemnitee in respect of which indemnity may be
sought pursuant to this Agreement, such Indemnitee shall promptly notify the Company in writing, and the Company shall have the right
to assume the defense thereof with counsel of its own choosing reasonably acceptable to the Indemnitee. Any Indemnitee shall have the
right to employ separate counsel in any such action and participate in the defense thereof, but the fees and expenses of such counsel
shall be at the expense of such Indemnitee, except to the extent that (i) the employment thereof has been specifically authorized by the
Company in writing, (ii) the Company has failed after a reasonable period of time to assume such defense and to employ counsel or (iii)
in such action there is, in the reasonable opinion of such separate counsel, a material conflict on any material issue between the position
of the Company and the position of such Indemnitee, in which case the Company shall be responsible for the reasonable fees and expenses
of no more than one such separate counsel.

 

		10.	EVENTS OF DEFAULT.

 

An “Event of Default”
shall be deemed to have occurred at any time as any of the following events occurs:

 

(a)                the
effectiveness of a Registration Statement registering the sale or resale of the Securities lapses for any reason (including, without
limitation, the issuance of a stop order or similar order) or such registration statement (or the prospectus forming a part thereof)
is unavailable to the Investor for sale or resale of any or all of the Securities to be issued to the Investor under the Transaction
Documents that are required to be included therein, and such lapse or unavailability continues for a period of ten (10) consecutive
Business Days or for more than an aggregate of thirty (30) Business Days in any 365-day period, but excluding a lapse or
unavailability where (i) the Company terminates a Registration Statement after the Investor has confirmed in writing that all of the
Securities covered thereby have been resold or (ii) the Company supersedes one Registration Statement with another Registration
Statement, including (without limitation) by terminating a prior Registration Statement when it is effectively replaced with a new
Registration Statement covering Securities (provided in the case of this clause (ii) that all of the Securities covered by the
superseded (or terminated) Registration Statement that have not theretofore been resold are included in the superseding (or new)
Registration Statement);

 

    -27-

     

    

 

(b)               
the suspension of the Common Stock from trading on the Principal Market for a period of at least one (1) Business Day, provided
that the Company may not direct the Investor to purchase any shares of Common Stock during any such suspension;

 

(c)               
the delisting of the Common Stock from The NASDAQ Global Select Market provided, however, that the Common Stock is not immediately
thereafter trading on The NASDAQ Capital Market, The NASDAQ Global Market, The NASDAQ Capital Market, the New York Stock Exchange, the
NYSE American, the NYSE Arca, the OTC Bulletin Board, or the OTCQB or the OTCQX operated by the OTC Markets Group, Inc. (or any nationally
recognized successor to any of the foregoing);

 

(d)               
the failure for any reason by the Transfer Agent to issue Purchase Shares to the Investor within two (2) Business Days after
the applicable Purchase Date, Accelerated Purchase Date or Additional Accelerated Purchase Date (as applicable) on which the Investor
is entitled to receive such Purchase Shares;

 

(e)               
the Company breaches any representation, warranty, covenant or other term or condition under any Transaction Document if
such breach would reasonably be expected to have a Material Adverse Effect and except, in the case of a breach of a covenant which is
reasonably curable, only if such breach continues for a period of at least five (5) Business Days;

 

(f)                
if any Person commences a proceeding against the Company pursuant to or within the meaning of any Bankruptcy Law;

 

(g)               
if the Company is at any time insolvent, or, pursuant to or within the meaning of any Bankruptcy Law, (i) commences a voluntary
case, (ii) consents to the entry of an order for relief against it in an involuntary case, (iii) consents to the appointment of a Custodian
of it or for all or substantially all of its property, or (iv) makes a general assignment for the benefit of its creditors or is generally
unable to pay its debts as the same become due;

 

(h)               
a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that (i) is for relief against the
Company in an involuntary case, (ii) appoints a Custodian of the Company or for all or substantially all of its property, or (iii) orders
the liquidation of the Company; or

 

(i)                
if at any time the Company is not eligible to transfer its Common Stock electronically as DWAC Shares or if the Company
fails to maintain the service of its Transfer Agent (or a successor Transfer Agent) with respect to the issuance of Purchase Shares under
this Agreement, including but not limited to, maintaining the effectiveness of the Commencement Irrevocable Transfer Instructions, payment
of all fees owed to the Transfer Agent and satisfaction of all conditions required by the Transfer Agent to issue Purchase Shares pursuant
to the Commencement Irrevocable Transfer Agent Instructions.

 

    -28-

     

    

 

 

In addition to any other rights
and remedies under applicable law and this Agreement, so long as (i) an Event of Default has occurred and is continuing, or if any event
that, after notice and/or lapse of time, would reasonably be expected to become an Event of Default, has occurred and is continuing or
(ii) if at any time after the Commencement Date, the Exchange Cap is reached (to the extent the Exchange Cap is applicable pursuant to
Section 2(d) hereof), the Company shall not deliver to the Investor any Regular Purchase Notice, Accelerated Purchase Notice or Additional
Purchase Notice.

 

		11.	TERMINATION

 

This Agreement may be terminated
only as follows:

 

(a)               
If pursuant to or within the meaning of any Bankruptcy Law, the Company commences a voluntary case or any Person commences
a proceeding against the Company, a Custodian is appointed for the Company or for all or substantially all of its property, or the Company
makes a general assignment for the benefit of its creditors (any of which would be an Event of Default as described in Sections 10(f),
10(g) and 10(h) hereof), this Agreement shall automatically terminate without any liability or payment to the Company (except
as set forth below) without further action or notice by any Person.

 

(b)               
At any time after the Commencement Date, the Company shall have the option to terminate this Agreement for any reason or
for no reason by delivering notice (a “Company Termination Notice”) to the Investor electing to terminate this Agreement
without any liability whatsoever of any party to any other party under this Agreement (except as set forth below). The Company Termination
Notice shall not be effective until one (1) Business Day after it has been received by the Investor.

 

(c)               
This Agreement shall automatically terminate on the date that the Company sells and the Investor purchases the full Available
Amount as provided herein, without any action or notice on the part of any party and without any liability whatsoever of any party to
any other party under this Agreement (except as set forth below).

 

(d)               
If, for any reason or for no reason, the full Available Amount has not been purchased in accordance with Section 2
of this Agreement by the Maturity Date, this Agreement shall automatically terminate on the Maturity Date, without any action or notice
on the part of any party and without any liability whatsoever of any party to any other party under this Agreement (except as set forth
below).

 

Except as set forth in Sections
11(a) (in respect of an Event of Default under Sections 10(f), 10(g) and 10(h)), and 11(d), any termination of
this Agreement pursuant to this Section 11 shall be effected by written notice from the Company to the Investor, or the Investor
to the Company, as the case may be, setting forth the basis for the termination hereof. The representations and warranties and covenants
of the Company and the Investor contained in Sections 3, 4, 5, and 6 hereof, the indemnification provisions
set forth in Section 9 hereof and the agreements and covenants set forth in Sections 10, 11 and 12 shall survive
the execution and delivery of this Agreement and any termination of this Agreement. No termination of this Agreement shall (i) affect
the Company’s or the Investor’s rights or obligations under (A) this Agreement with respect to any pending Regular Purchases,
Accelerated Purchases, or Additional Accelerated Purchases, and the Company and the Investor shall complete their respective obligations
with respect to any pending Regular Purchases, Accelerated Purchases and Additional Accelerated Purchases under this Agreement and (B)
the Registration Rights Agreement, which shall survive any such termination, in accordance with its terms, or (ii) be deemed to release
the Company or the Investor from any liability for intentional misrepresentation or willful breach of any of the Transaction Documents.

 

    -29-

     

    

 

		12.	MISCELLANEOUS.

 

(a)               
 Governing Law; Jurisdiction; Jury Trial. The corporate laws of the State of Delaware shall govern all issues concerning
the relative rights of the Company and its stockholders. All other questions concerning the construction, validity, enforcement and interpretation
of this Agreement and the other Transaction Documents 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 and venue in the U.S. District Court for the Southern District of New York or, if that court does not have subject
matter jurisdiction, in any state court located in the City and County of New York, for the adjudication of any dispute hereunder or under
the other Transaction Documents or in connection herewith or therewith, 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.

 

(b)               
Counterparts. This Agreement may be executed in two or more identical counterparts, all of which shall be considered
one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party;
provided that a facsimile signature or signature delivered by e-mail in a “.pdf” format data file shall be considered due
execution and shall be binding upon the signatory thereto with the same force and effect as if the signature were an original signature.

 

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

 

(d)               
Severability. If any provision of this Agreement shall be invalid or unenforceable in any jurisdiction, such invalidity
or unenforceability shall not affect the validity or enforceability of the remainder of this Agreement in that jurisdiction or the validity
or enforceability of any provision of this Agreement in any other jurisdiction.

 

(e)               
Entire Agreement. The Transaction Documents supersede all other prior oral or written agreements between the Investor,
the Company, their affiliates and Persons acting on their behalf with respect to the subject matter thereof, and this Agreement, the other
Transaction Documents and the instruments referenced herein contain the entire understanding of the parties with respect to the matters
covered herein and therein and, except as specifically set forth herein or therein, neither the Company nor the Investor makes any representation,
warranty, covenant or undertaking with respect to such matters. The Company acknowledges and agrees that it has not relied on, in any
manner whatsoever, any representations or statements, written or oral, other than as expressly set forth in the Transaction Documents.
The Investor acknowledges and agrees that it has not relied on, in any manner whatsoever, any representations or statements, written or
oral, other than as expressly set forth in the Transaction Documents.

 

    -30-

     

    

 

(f)                
 Notices. Any notices, consents 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 receipt
when sent by facsimile or email (provided confirmation of transmission is mechanically or electronically generated and kept on file by
the sending party); or (iii) 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 for such communications shall be:

 

If to the Company:

 

VYNE Therapeutics, Inc.

520 U.S. Highway 22, Suite 204

Bridgewater, New Jersey 08807

		Telephone:	800-775-7936

		E-mail:	Tyler.Zeronda@VYNEtx.com

		Attention:	Tyler Zeronda, CFO

 

With a copy to (which shall not constitute
notice or service of process):

 

Cooley LLP

One Freedom Square, Reston Town Center

11951 Freedom Drive

Reston, Virginia 20190-5640

Telephone: (703) 453-8000

Facsimile: (703) 453-8100

Email: mballantyne@cooley.com

Attention: Mark Ballantyne

 

If to the Investor:

 

Lincoln Park Capital Fund, LLC

440 North Wells, Suite 410

Chicago, IL 60654

		Telephone:	312-822-9300

		Facsimile:	312-822-9301

		E-mail:	jscheinfeld@lpcfunds.com/jcope@lpcfunds.com

		Attention:	Josh Scheinfeld/Jonathan Cope

 

With a copy to (which shall not constitute
notice or service of process):

 

K&L Gates LLP

200 S. Biscayne Blvd., Suite 3900

Miami, FL 33131

		Telephone:	(305) 539-3306

		Facsimile:	(305) 358-7095

		E-mail:	clayton.parker@klgates.com

		Attention:	Clayton E. Parker, Esq.

 

    -31-

     

    

 

If to the Transfer Agent:

 

American Stock Transfer & Trust Company, LLC

6201 15th Avenue

Brooklyn, NY 11219

		Telephone:	718-921-8300 ext.6449

		Facsimile:	718-765-8782

		Email:	vcirone@astfinancial.com

		Attention:	Vito Cirone

 

or at such other address, email address and/or
facsimile number and/or to the attention of such other Person as the recipient party has specified by written notice given to each other
party three (3) Business Days prior to the effectiveness of such change. Written confirmation of receipt (A) given by the recipient of
such notice, consent or other communication, (B) mechanically or electronically generated by the sender’s facsimile machine or email
account containing the time, date, and recipient facsimile number or email address, as applicable, or (C) provided by a nationally recognized
overnight delivery service, shall be rebuttable evidence of personal service, receipt by facsimile or email or receipt from a nationally
recognized overnight delivery service in accordance with clause (i), (ii) or (iii) above, respectively.

 

(g)               
Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their respective
successors and assigns. The Company shall not assign this Agreement or any rights or obligations hereunder without the prior written consent
of the Investor, including by merger or consolidation. The Investor may not assign its rights or obligations under this Agreement.

 

(h)               
No Third Party Beneficiaries. 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.

 

(i)                
Publicity. The Company shall afford the Investor and its counsel with the opportunity to review and comment upon,
shall consult with the Investor and its counsel on the form and substance of, and shall give due consideration to all such comments from
the Investor or its counsel on, the Prospectus Supplement, any press release or any Current Report on Form 8-K by or on behalf of the
Company relating to the Investor, its purchases hereunder or any aspect to the Transaction Documents or the transactions contemplated
thereby, not less than 24 hours prior to the issuance, filing or public disclosure thereof; provided that the Company shall not be required
to provide the Investor any disclosures that are materially similar to those previously reviewed by the Investor.

 

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

 

(k)               
No Financial Advisor, Placement Agent, Broker or Finder. The Company represents and warrants to the Investor that
it has not engaged any financial advisor, placement agent, broker or finder in connection with the transactions contemplated hereby. The
Investor represents and warrants to the Company that it has not engaged any financial advisor, placement agent, broker or finder in connection
with the transactions contemplated hereby. The Company shall be responsible for the payment of any fees or commissions, if any, of any
financial advisor, placement agent, broker or finder relating to or arising out of the transactions contemplated hereby. The Company shall
pay, and hold the Investor harmless against, any liability, loss or expense (including, without limitation, reasonable attorneys’
fees and out of pocket expenses) arising in connection with any such claim made by a third party for any such fees or commissions.

 

    -32-

     

    

 

(l)                
 No Strict Construction. 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)             
Remedies, Other Obligations, Breaches and Injunctive Relief. The Investor’s remedies provided in this Agreement,
including, without limitation, the Investor’s remedies provided in Section 9, shall be cumulative and in addition to all
other remedies available to the Investor under this Agreement, at law or in equity (including a decree of specific performance and/or
other injunctive relief). No remedy of the Investor contained herein shall be deemed a waiver of compliance with the provisions giving
rise to such remedy and nothing herein shall limit the Investor’s right to pursue actual damages for any failure by the Company
to comply with the terms of this Agreement. The parties acknowledge that a breach by any party of its obligations hereunder will cause
irreparable harm to the non-breaching party and that the remedy at law for any such breach may be inadequate. The parties therefore agree
that, in the event of any such breach or threatened breach, the non-breaching party shall be entitled, in addition to all other available
remedies, to an injunction restraining any breach, without the necessity of showing economic loss and without any bond or other security
being required.

 

(n)               
Enforcement Costs. If: (i) this Agreement is placed by the Investor or the Company in the hands of an attorney for
enforcement or is enforced by the Investor or the Company through any legal proceeding; (ii) an attorney is retained to represent the
Investor or the Company in any bankruptcy, reorganization, receivership or other proceedings affecting creditors’ rights and involving
a claim under this Agreement; or (iii) subject to Section 9, an attorney is retained to represent the Investor or the Company in
any other proceedings whatsoever in connection with this Agreement, then the party against which redress is sought under this section
shall pay all reasonable costs and expenses including attorneys’ fees incurred in connection therewith to the party incurring such
costs and expenses, a incurred, in addition to all other amounts due hereunder.

 

(o)               
Amendment and Waiver; Failure or Indulgence Not Waiver. No provision of this Agreement (i) may be amended other than
by a written instrument signed by both parties hereto and (ii) may be waived other than in a written instrument signed by the party against
whom enforcement of such waiver is sought. No failure or delay in the exercise of any power, right or privilege hereunder shall operate
as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege preclude other or further exercise
thereof or of any other right, power or privilege.

 

* * * * *

 

    -33-

     

    

 

IN WITNESS WHEREOF,
the Investor and the Company have caused this Purchase Agreement to be duly executed as of the date first written above.

 

	 	THE
    COMPANY:
	 	 	 
	 	VYNE
    THERAPEUTICS, INC. 
	 	 	 
	 	By:	/s/
    David Domzalski
	 	Name:
    	David
    Domzalski
	 	Title:
    	Chief
    Executive Officer and President
	 	 	 
	 	By:
    	/s/
    Tyler Zeronda
	 	Name:
    	Tyler
    Zeronda
	 	Title:
    	Chief
    Financial Officer and Treasurer
	 	 	 
	 	THE INVESTOR:
	 	 	 
	 	LINCOLN
    PARK CAPITAL FUND, LLC 
	 	BY:
    LINCOLN PARK CAPITAL, LLC
	 	BY:
    Rockledge Capital Corporation
	 	 	 
	 	By:	/s/
    Joshua Scheinfeld
	 	Name:
    	Joshua
    Scheinfeld
	 	Title:
    	President

 

    -34-

     

    

 

EXHIBITS

 

Exhibit A   Form of Officer’s Certificate

Exhibit B   Form of Secretary’s Certificate

 

     

     

    

 

EXHIBIT A

 

FORM OF OFFICER’S CERTIFICATE

 

This Officer’s Certificate
(“Certificate”) is being delivered pursuant to Section 8(e) of that certain Purchase Agreement dated as of March
15, 2022, (“Purchase Agreement”), by and between VYNE THERAPEUTICS, INC., a Delaware corporation (the “Company”),
and LINCOLN PARK CAPITAL FUND, LLC (the “Investor”). Terms used herein and not otherwise defined shall have
the meanings ascribed to them in the Purchase Agreement.

 

The undersigned, David Domzalski,
Chief Executive Officer of the Company, hereby certifies, on behalf of the Company and not in his individual capacity, as follows:

 

1.                  
I am the Chief Executive Officer of the Company;

 

2.                  
The representations and warranties of the Company contained in the Purchase Agreement are true and correct in all material respects
(except to the extent that any of such representations and warranties is already qualified as to materiality in Section 4 of the Purchase
Agreement, in which case, such representations and warranties are true and correct without further qualification) as of the date of the
Purchase Agreement and as of the Commencement Date as though made at that time (except for representations and warranties that speak as
of a specific date, in which case such representations and warranties are true and correct in all material respects as of such date);

 

3.                  
The Company has performed, satisfied and complied in all material respects with covenants, agreements and conditions required by
the Transaction Documents to be performed, satisfied or complied with by the Company at or prior to the Commencement Date, to the extent
not otherwise waived.

 

4.                  
The Company has not taken any steps, and does not currently expect to take any steps, to seek protection pursuant to any Bankruptcy
Law nor does the Company or any of its Subsidiaries currently have any knowledge or reason to believe that its creditors intend to initiate
involuntary bankruptcy or insolvency proceedings. The Company is currently financially solvent and is generally able to pay its debts
as they become due.

 

IN WITNESS WHEREOF, I have
hereunder signed my name on this ___ day of ___________, 2022.

 

	 	 
	 	Name:
    
	 	Title:
    

 

     

     

    

 

EXHIBIT B

 

FORM OF SECRETARY’S CERTIFICATE

 

This Secretary’s Certificate
(“Certificate”) is being delivered pursuant to Section 8(k) of that certain Purchase Agreement dated as of March 15,
2022 (“Purchase Agreement”), by and between VYNE THERAPEUTICS, INC., a Delaware corporation (the “Company”),
and LINCOLN PARK CAPITAL FUND, LLC (the “Investor”), pursuant to which the Company may sell to the Investor up to Thirty
Million Dollars ($30,000,000) of the Company’s Common Stock, $0.0001 par value per share (the “Common Stock”). Terms
used herein and not otherwise defined shall have the meanings ascribed to them in the Purchase Agreement.

 

The undersigned, ______________,
Secretary of the Company, hereby certifies, on behalf of the Company and not in his individual capacity, as follows:

 

1.                  
I am the Secretary of the Company.

 

2.                  
Attached hereto as Exhibit A and Exhibit B are true, correct and complete copies of the Company’s Amended and
Restated Bylaws (“Bylaws”) and Amended and Restated Certificate of Incorporation, as amended by a Certificate of Amendment
(“Charter”), and no action has been taken by the Company, its directors, officers or stockholders, in contemplation of the
filing of any further amendment relating to or affecting the Bylaws or Charter.

 

3.                  
Attached hereto as Exhibit C are true, correct and complete copies of the resolutions duly adopted by the Board of Directors
of the Company by unanimous written consent effective as of March 14, 2022. Such resolutions have not been amended, modified or rescinded
and remain in full force and effect and such resolutions are the only resolutions adopted by the Board of Directors, or any committee
thereof, or the stockholders of the Company relating to or affecting (i) the entering into and performance of the Purchase Agreement,
or the issuance, offering and sale of the Purchase Shares and the Commitment Shares and (ii) and the performance of the Company of its
obligation under the Transaction Documents as contemplated therein.

 

4.                  
As of the date hereof, the authorized, issued and reserved capital stock of the Company is as set forth on Exhibit D hereto.

 

     

     

    

 

 

IN WITNESS WHEREOF,
I have hereunder signed my name on this ___ day of ____________, 2022.

 

 

	 	 	 
	 	Secretary	 

 

The undersigned as Chief Executive Officer of
VYNE THERAPEUTICS, INC., a Delaware corporation, hereby certifies that ______________ is the duly elected, appointed, qualified
and acting Secretary of VYNE Therapeutics, Inc., and that the signature appearing above is his genuine signature.

 

	 	 	 
	 	Chief Executive OfficerExhibit 10.2

 

REGISTRATION RIGHTS AGREEMENT

 

THIS REGISTRATION RIGHTS
AGREEMENT (this “Agreement”), dated as of March 15, 2022, is entered into by and between VYNE THERAPEUTICS,
INC., a Delaware corporation (the “Company”), and LINCOLN PARK CAPITAL FUND, LLC, an Illinois limited liability
company (together with its permitted assigns, the “Investor”). Capitalized terms used herein and not otherwise
defined herein shall have the respective meanings set forth in the Purchase Agreement by and between the parties hereto, dated as of the
date hereof (as amended, restated, supplemented or otherwise modified from time to time, the “Purchase Agreement”).

 

WHEREAS:

 

A.                
Upon the terms and subject to the conditions of the Purchase Agreement, (i) the Company has agreed to issue to the Investor,
and the Investor has agreed to purchase, up to Thirty Million Dollars ($30,000,000) of the Company’s common stock, par value
$0.0001 per share (the “Common Stock”), pursuant to the Purchase Agreement (such shares, the “Purchase Shares”),
and (ii) the Company has agreed to issue to the Investor such number of shares of Common Stock as is required pursuant to the Purchase
Agreement (the “Commitment Shares”); and

 

B.                 
To induce the Investor to enter into the 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
 “Securities Act”), and applicable state securities laws.

 

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

 

		1.	DEFINITIONS.

 

For purposes of this Agreement,
the following terms shall have the following meanings:

 

(a)               
“Register,” “Registered,” and “Registration” refer to a registration effected
by preparing and filing one or more registration statements of the Company in compliance with the Securities Act and pursuant to Rule
415 under the Securities Act or any successor rule providing for offering securities on a continuous basis (“Rule 415”), and
the declaration or ordering of effectiveness of such registration statement(s) by the SEC.

 

(b)               
“Registrable Securities” means the Purchase Shares that may from time to time be issued or issuable to the Investor
upon purchases of the Available Amount under the Purchase Agreement (without regard to any limitation or restriction on purchases), the
Commitment Shares issued or issuable to the Investor, and any Common Stock issued or issuable with respect to the Purchase Shares, the
Commitment Shares or the Purchase Agreement as a result of any stock split, stock dividend, recapitalization, exchange or similar event,
without regard to any limitation on purchases under the Purchase Agreement.

 

     

     

    

 

(c)               
 “Registration Statement” means the Shelf Registration Statement and any other registration statement of the
Company that Registers Registrable Securities, including a New Registration Statement, as amended when each became effective, including
all documents filed as part thereof or incorporated by reference therein, and including any information contained in a Prospectus subsequently
filed with the SEC.

 

(d)               
“Shelf Registration Statement” means the Company’s existing registration statement on Form S-3 (File No.
333-255841).

 

		2.	REGISTRATION.

 

(a)               
Mandatory Registration. The Company agrees that it
shall, within the time required under Rule 424(b) under the Securities Act, file with the SEC the Initial Prospectus Supplement pursuant
to Rule 424(b) under the Securities Act specifically relating to the transactions contemplated by, and describing the material terms and
conditions of, the Transaction Documents, containing information previously omitted at the time of effectiveness of the Registration Statement
in reliance on Rule 430B under the Securities Act, and disclosing all information relating to the transactions contemplated hereby required
to be disclosed in the Registration Statement and the Prospectus as of the date of the Initial Prospectus Supplement, including, without
limitation, information required to be disclosed in the section captioned “Plan of Distribution” in the Prospectus. The Investor
acknowledges that it will be identified in the Initial Prospectus Supplement as an underwriter within the meaning of Section 2(a)(11)
of the Securities Act. The Company shall permit the Investor to review and comment upon the Initial Prospectus Supplement at least two
(2) Business Days prior to its filing with the SEC, the Company shall give due consideration to all such comments, and the Company shall
not file the Initial Prospectus Supplement with the SEC in a form to which the Investor reasonably objects. The Investor shall use its
reasonable best efforts to comment upon the Initial Prospectus Supplement within one (1) Business Day from the date the Investor receives
a substantially complete draft thereof from the Company. The Investor shall furnish to the Company such information regarding itself,
the Securities held by it and the intended method of distribution thereof, including any arrangement between the Investor and any other
Person relating to the sale or distribution of the Securities, as shall be reasonably requested by the Company in connection with the
preparation and filing of the Initial Prospectus Supplement, and shall otherwise cooperate with the Company as reasonably requested by
the Company in connection with the preparation and filing of the Initial Prospectus Supplement with the SEC.

 

(b)                Effectiveness.
The Company shall use its commercially reasonable efforts to keep the Registration Statement effective pursuant to Rule 415
promulgated under the Securities Act, and to keep the Registration Statement and the Prospectus current and available for issuances
and sales of all possible Registrable Securities by the Company to the Investor, and for the resale of all of the Registrable
Securities by the Investor, at all times until the earlier of (i) the date on which the Investor shall have sold all the Securities
and no Available Amount remains under this Agreement and (ii) 180 days following the earlier of termination of this Agreement and
the Maturity Date (the “Registration Period”). Without limiting the generality of the foregoing, during the
Registration Period, the Company shall (a) take all action necessary to cause the Common Stock to continue to be Registered as a
class of securities under Section 12(b) of the Exchange Act and shall not take any action or file any document (whether or not
permitted by the Exchange Act) to terminate or suspend such registration and (b) file or furnish on or before their respective due
dates all reports and other documents required to be filed or furnished by the Company pursuant to Sections 13(a), 13(c), 14, 15(d)
or any other provision of or under the Exchange Act, and shall not take any action or file any document (whether or not permitted by
the Exchange Act) to terminate or suspend its reporting and filing obligations under the Exchange Act. The 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 necessary to make the statements therein, in the light of the circumstances under
which they were made, not misleading.  

 

    2 

     

    

 

(c)               
Prospectus Amendments or Supplements. Except as provided
in this Agreement and other than periodic and current reports required to be filed pursuant to the Exchange Act, the Company shall not
file with the SEC any amendment to the Registration Statement or any supplement to the Base Prospectus that refers to the Investor, the
Transaction Documents or the transactions contemplated thereby (including, without limitation, any Prospectus Supplement filed in connection
with the transactions contemplated by the Transaction Documents), in each case with respect to which (a) the Investor shall not previously
have been advised and afforded the opportunity to review and comment thereon at least two (2) Business Days prior to filing with the SEC,
as the case may be, (b) the Company shall not have given due consideration to any comments thereon received from the Investor or its counsel,
or (c) the Investor shall reasonably object, unless the Company reasonably has determined that it is necessary to amend the Registration
Statement or make any supplement to the Prospectus to comply with the Securities Act or any other applicable law or regulation, in which
case (i) the Company shall promptly (but in no event later than 24 hours) so inform the Investor, (ii) the Investor shall be provided
with a reasonable opportunity to review and comment upon any disclosure referring to the Investor, the Transaction Documents or the transactions
contemplated thereby, as applicable, and (iii) the Company shall expeditiously furnish to the Investor a copy thereof. In addition, for
so long as, in the reasonable opinion of counsel for the Investor, the Prospectus is required to be delivered in connection with any acquisition
or sale of Securities by the Investor, the Company shall not file any Prospectus Supplement with respect to the Securities without furnishing
to the Investor as many copies of such Prospectus Supplement, together with the Prospectus, as the Investor may reasonably request.

 

(d)               
Sufficient Number of Shares Registered. In the event
the number of shares available under the Shelf Registration Statement at any time is insufficient to cover the Registrable Securities,
the Company shall, to the extent necessary and permissible, amend the Shelf Registration Statement or file a new registration statement
(together with any prospectuses or prospectus supplements thereunder, a “New Registration Statement”), so as to cover
all of such Registrable Securities as soon as reasonably practicable, but in any event not later than ten (10) Business Days after the
necessity therefor arises, subject to any limits that may be imposed by the SEC pursuant to Rule 415. The Company shall use its reasonable
best efforts to have such amendment and/or New Registration Statement become effective as soon as reasonably practicable following the
filing thereof.    

 

(e)               
Offering. If the SEC seeks to characterize any offering
pursuant to a Registration Statement filed pursuant to this Agreement as constituting an offering of securities that does not permit such
Registration Statement to become effective and be used by the Investor under Rule 415 at then-prevailing market prices (and not fixed
prices), or if after the filing of the Initial Prospectus Supplement with the SEC pursuant to Section 2(a), the Company is otherwise
required by the Staff or the SEC to reduce the number of Registrable Securities included in such initial Registration Statement, then
the Company shall reduce the number of Registrable Securities to be included in such initial Registration Statement (with the prior consent,
which shall not be unreasonably withheld, of the Investor and its legal counsel as to the specific Registrable Securities to be removed
therefrom) until such time as the SEC shall so permit such Registration Statement to become effective and be used as aforesaid. In the
event of any reduction in Registrable Securities pursuant to this paragraph, the Company shall file one or more New Registration Statements
in accordance with Section 2(d) until such time as all Registrable Securities have been included in Registration Statements that
have been declared effective and the prospectuses contained therein is available for use by the Investor.

 

    3 

     

    

 

		3.	RELATED OBLIGATIONS.

 

With respect to the Registration
Statement and whenever any Registrable Securities are to be Registered pursuant to Section 2, including on the Shelf Registration
Statement or on any New Registration Statement, the Company shall use its reasonable 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)               
Notifications. The Company will notify the Investor promptly
of the time when any subsequent amendment to the Shelf Registration Statement or any New Registration Statement, other than documents
incorporated by reference, has been filed with the SEC and/or has become effective or where a receipt has been issued therefor or any
subsequent supplement to a Prospectus has been filed and of any request by the SEC for any amendment or supplement to the Registration
Statement, any New Registration Statement or any Prospectus or for additional information.

 

(b)               
Amendments. The Company will prepare and file with the SEC,
promptly upon the Investor’s request, any amendments or supplements to the Shelf Registration Statement, any New Registration Statement
or any Prospectus, as applicable, that, in the reasonable opinion of the Investor and the Company, may be necessary or advisable in connection
with any acquisition or sale of Registrable Securities by the Investor (provided, however, that the failure of the Investor to make such
request shall not relieve the Company of any obligation or liability hereunder).

 

(c)               
Investor Review. The Company will not file any amendment
or supplement to the Registration Statement, any New Registration Statement or any Prospectus, other than documents incorporated by reference,
relating to the Investor, the Registrable Securities or the transactions contemplated hereby unless (A) the Investor shall have been advised
and afforded the opportunity to review and comment thereon at least two (2) Business Days prior to filing with the SEC, (B) the Company
shall have given due consideration to any comments thereon received from the Investor or its counsel, and (C) the Investor has not reasonably
objected thereto, and the Company will furnish to the Investor at the time of filing thereof a copy of any document that upon filing is
deemed to be incorporated by reference into the Registration Statement or any Prospectus, except for those documents available via EDGAR.

 

(d)               
Form S-3. The Company will cause each amendment or supplement
to the Prospectus, other than documents incorporated by reference, to be filed with the SEC as required pursuant to the rules of Form
S-3.

 

(e)               
Copies Available. The Company will furnish to the Investor
and its counsel (at the expense of the Company) copies of the Registration Statement, the Prospectus (including all documents incorporated
by reference therein), any Prospectus Supplement, any New Registration Statement and all amendments and supplements to the Registration
Statement, the Prospectus or any New Registration Statement that are filed with the SEC during the Registration Period (including all
documents filed with or furnished to the SEC during such period that are deemed to be incorporated by reference therein), in each case
as soon as reasonably practicable upon the Investor’s request and in such quantities as the Investor may from time to time reasonably
request and, at the Investor’s request, will also furnish copies of the Prospectus to each exchange or market on which sales of
the Registrable Securities may be made; provided, however, that the Company shall not be required to furnish any document (other than
the Prospectus) to the Investor to the extent such document is available on EDGAR.

 

    4 

     

    

 

(f)                 Qualification.
The Company shall take all such action, if any, as is reasonably necessary in order to obtain an exemption for or to qualify (i) the
issuance of the Commitment Shares and the sale of the Purchase Shares to the Investor under this Agreement and (ii) any subsequent
resale of all Commitment Shares and all Purchase Shares by the Investor, in each case, under applicable securities or “Blue
Sky” laws of the states of the United States in such states as is reasonably requested by the Investor during the Registration
Period, and shall provide evidence of any such action so taken to the Investor. During the Registration Period, the Company
shall promptly notify the Investor 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 threat of any proceeding for such
purpose.

 

(g)               
Notification of Stop Orders; Material Changes. The Company
shall advise the Investor promptly (but in no event later than 24 hours) and shall confirm such advice in writing, in each case: (i) of
the Company’s receipt of notice of any request by the SEC or any other federal or state governmental authority for amendment of
or a supplement to the Registration Statement or any Prospectus or for any additional information; (ii) of the Company’s receipt
of notice of the issuance by the SEC or any other federal or state governmental authority of any stop order suspending the effectiveness
of the Registration Statement or prohibiting or suspending the use of the Prospectus or Prospectus Supplement, or any New Registration
Statement, or of the Company’s receipt of any notification of the suspension of qualification of the Registrable Securities for
offering or sale in any jurisdiction or the initiation or contemplated initiation of any proceeding for such purpose; and (iii) of the
Company becoming aware of the happening of any event, which makes any statement of a material fact made in the Registration Statement
or any Prospectus untrue or which requires the making of any additions to or changes to the statements then made in the Registration Statement
or any Prospectus in order to state a material fact required by the Securities Act to be stated therein or necessary in order to make
the statements then made therein (in the case of any Prospectus, in light of the circumstances under which they were made) not misleading,
or of the necessity to amend the Registration Statement or any Prospectus to comply with the Securities Act or any other law. The Company
shall not be required to disclose to the Investor the substance or specific reasons of any of the events set forth in clauses (i) through
(iii) of the immediately preceding sentence, but rather, shall only be required to disclose that the event has occurred. If at any time
the SEC, or any other federal or state governmental authority shall issue any stop order suspending the effectiveness of the Registration
Statement or prohibiting or suspending the use of the Prospectus or Prospectus Supplement, the Company shall use its reasonable best efforts
to obtain the withdrawal of such order at the earliest practicable time. The Company shall furnish to the Investor, without charge and
upon request, a copy of any correspondence from the SEC or the staff of the SEC, or any other federal or state governmental authority
to the Company or its representatives relating to the Shelf Registration Statement, any New Registration Statement or any Prospectus,
or Prospectus Supplement as the case may be. The Company shall not deliver to the Investor any Regular Purchase Notice, Accelerated Purchase
Notice or Additional Accelerated Purchase Notice, and the Investor shall not be obligated to purchase any shares of Common Stock under
the Purchase Agreement, during the continuation or pendency of any of the foregoing events. If at any time the SEC shall issue any stop
order suspending the effectiveness of the Registration Statement or prohibiting or suspending the use of the Prospectus or any Prospectus
Supplement, the Company shall use its reasonable best efforts to obtain the withdrawal of such order at the earliest practicable time.
The Company shall furnish to the Investor, without charge and upon request, a copy of any correspondence from the SEC or the staff of
the SEC to the Company or its representatives relating to the Registration Statement or the Prospectus, as the case may be.

 

(h)                Listing
on the Principal Market. The Company shall promptly secure the listing, or conditional listing as applicable, of all of
the Purchase Shares and Commitment Shares to be issued to the Investor hereunder on the Principal Market (subject to standard
listing conditions, if any, for transactions of this nature, official notice of issuance and the Exchange Cap) and upon each other
national securities exchange or automated quotation system, if any, upon which the Common Stock are then listed, and shall maintain,
so long as any Common Stock shall be so listed, such listing of all such Registrable Securities from time to time issuable
hereunder. The Company shall use commercially reasonable efforts to maintain the listing of the Common Stock on the Principal Market
and shall comply in all respects with the Company’s reporting, filing and other obligations under the bylaws or rules and
regulations of the Principal Market. The Company shall not take any action that would reasonably be expected to result in the
delisting or suspension of the Common Stock on the Principal Market. The Company shall promptly, and in no event later than the
following Business Day, provide to the Investor copies of any notices it receives from any Person regarding the continued
eligibility of the Common Stock for listing on the Principal Market; provided, however, that the Company shall not provide the
Investor copies of any such notice that the Company reasonably believes constitutes material non-public information and that the
Company would not be required to publicly disclose such notice in any report or statement filed with the SEC under the Exchange Act
(including on Form 8-K) or the Securities Act. The Company shall pay all fees and expenses in connection with satisfying its
obligations under this Section 3(h).

 

    5 

     

    

 

(i)                
Delivery of Shares. The Company shall cooperate with the
Investor to facilitate the timely preparation and delivery of DWAC Shares (not bearing any restrictive legend) representing the Registrable
Securities to be offered pursuant to the Shelf Registration Statement or any New Registration Statement and enable such DWAC Shares to
be in such denominations or amounts as the Investor may reasonably request and registered in such names as the Investor may request.

 

(j)                
Transfer Agent. The Company shall at all times maintain
the services of the Transfer Agent with respect to its Common Stock.

 

(k)               
Approvals. The Company shall use its reasonable best efforts
to cause the Registrable Securities covered by any Registration Statement to be Registered with or approved by such other governmental
agencies or authorities in the United States as may be necessary to consummate the disposition of such Registrable Securities.

 

(l)                
Confirmation of Effectiveness. If reasonably requested in
writing by the Investor at any time, the Company shall deliver to the Investor a written confirmation from Company’s counsel of
whether or not the effectiveness of such Registration Statement has lapsed at any time for any reason (including, without limitation,
the issuance of a stop order) and whether or not the Registration Statement is currently effective and available to the Company for sale
of all of the Registrable Securities.  

 

(m)             
Further Assurances. The Company agrees to take all other
reasonable actions as necessary and reasonably requested in writing by the Investor to expedite and facilitate disposition by the Investor
of Registrable Securities pursuant to any Registration Statement.

 

(n)               
Suspension of Sales. The Investor agrees that, upon receipt
of any notice from the Company of the existence of any suspension or stop order as set forth in Section 3(f) or 3(g), the
Investor will immediately discontinue disposition of Registrable Securities pursuant to any Registration Statement covering such Registrable
Securities until the Investor’s receipt of the copies of a notice regarding the resolution or withdrawal of the suspension or stop
order as contemplated by Section 3(f) or 3(g). Notwithstanding anything to the contrary, the Company shall cause its transfer
agent to promptly deliver to the Investor DWAC Shares without any restrictive legend in accordance with the terms of the Purchase Agreement
in connection with any sale of Registrable Securities with respect to which the 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(f) or
3(g) and for which the Investor has not yet settled.

 

(o)                Transfer
Agent Instructions. On or before the date the Initial Prospectus Supplement is filed with the SEC, the Company shall
issue to the Transfer Agent the Commencement Irrevocable Transfer Agent Instructions in the form agreed to prior to the date hereof,
and on the date the Initial Prospectus Supplement is filed with 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 Investor) confirmation that
such Registration Statement has been declared effective by the SEC in the form attached as an exhibit to the Commencement
Irrevocable Transfer Agent Instructions. Thereafter, if requested by the Investor at any time, the Company shall require its legal
counsel to deliver to the Investor a written confirmation whether or not the effectiveness of such Registration Statement has lapsed
at any time for any reason (including, without limitation, the issuance of a stop order) and whether or not the Registration
Statement is current and available to the Investor for sale of all of the Registrable Securities.

 

    6 

     

    

 

		4.	OBLIGATIONS OF THE INVESTOR.

 

(a)               
Investor Information. The Investor has furnished to the
Company in Exhibit A hereto such information regarding itself, the Registrable Securities held by it, and the intended method of
disposition thereof, including any arrangement between the Investor and any other Person relating to the sale or distribution of the Securities,
as required to effect the registration of such Registrable Securities and shall execute such documents in connection with such registration
as the Company may reasonably request. The Company shall notify the Investor in writing of any other information the Company reasonably
requires from the Investor in connection with any Registration Statement hereunder. The Investor will as promptly as practicable notify
the Company of any material change in the information set forth in Exhibit A, other than changes in its ownership of Common Stock.

 

(b)               
Investor Cooperation. The Investor agrees to cooperate with
the Company as reasonably requested by the Company in connection with the preparation and filing of any amendments and supplements to
any Registration Statement or New Registration Statement hereunder.

 

		5.	EXPENSES OF REGISTRATION.

 

All reasonable expenses of the
Company, other than sales or brokerage commissions and fees and disbursements of counsel for, and other expenses of, the Investor, 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.

 

		6.	INDEMNIFICATION.

 

(a)                To
the fullest extent permitted by law, the Company will, and hereby does, indemnify, hold harmless and defend the Investor, each
Person, if any, who controls the Investor, the members, the directors, officers, partners, employees, members, managers, agents,
representatives of the Investor and each Person, if any, who controls the Investor within the meaning of the Securities Act or the
Exchange Act (each, an “Indemnified Person”), against any losses, claims, damages, liabilities, judgments, fines,
penalties, charges, costs, reasonable attorneys’ fees, amounts paid in settlement (with the consent of the Company, such
consent not to be unreasonably withheld) or reasonable expenses, (collectively, “Claims”) reasonably 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 or 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 the Shelf Registration Statement,
any New 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 the final Prospectus 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 Securities Act, the Exchange 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 the Shelf Registration Statement or any New Registration Statement or (iv) any material violation by the
Company of this Agreement (the matters in the foregoing clauses (i) through (iv) being, collectively,
 “Violations”). The Company shall reimburse each Indemnified Person promptly as such expenses are incurred
and are due and payable, for any reasonable out-of-pocket 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): (A) 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 the
Investor or such Indemnified Person expressly for use in connection with the preparation of the Registration Statement, any New
Registration Statement, the Prospectus or any such amendment thereof or supplement thereto, if such in each case if the foregoing
was timely made available by the Company; (B) with respect to any superseded prospectus, shall not inure to the benefit of any such
Person from whom the Person asserting any such Claim purchased the Registrable Securities that are the subject thereof (or to the
benefit of any other Indemnified Person) if the untrue statement or omission of material fact contained in the superseded prospectus
was corrected in the revised prospectus, as then amended or supplemented, if such revised prospectus was timely made available by
the Company pursuant to Section 3(c) or Section 3(e), and the Indemnified Person was promptly advised in writing not
to use the incorrect prospectus prior to the use giving rise to a violation; (C) shall not be available to the extent such Claim is
based on a failure of the Investor to deliver, or to cause to be delivered, the prospectus made available by the Company, if such
prospectus was theretofore made available by the Company pursuant to Section 3(c) or Section 3(e); and (D) 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. 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
Investor pursuant to Section 8.

 

    7 

     

    

 

(b)                In
connection with the Shelf Registration Statement, any New Registration Statement or Prospectus, the Investor agrees to 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 signed the Shelf Registration Statement or signs any New Registration Statement, each Person, if
any, who controls the Company within the meaning of the Securities Act or the Exchange Act (collectively and together with an
Indemnified Person, an “Indemnified Party”), against any Claim or Indemnified Damages to which any of them may
become subject, under the Securities Act, the Exchange 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 about the Investor set forth on Exhibit A attached hereto or updated from time to time
in writing by the Investor and furnished to the Company by the Investor expressly for inclusion in the Shelf Registration Statement
or Prospectus or any New Registration Statement or from the failure of the Investor to deliver or to cause to be delivered the
prospectus made available by the Company, if such prospectus was timely made available by the Company pursuant to Section
3(c) or Section 3(e); and, subject to Section 6(d), the Investor will reimburse any reasonable out-of-pocket legal
or other expenses reasonably incurred by them 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
the Investor, which consent shall not be unreasonably withheld; 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 the 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 Investor pursuant to Section 8.

 

(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 to be paid by the indemnifying party, if, in the reasonable opinion of counsel retained by the indemnifying party, the
representation by such counsel of the Indemnified Person or Indemnified Party 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. The Indemnified Party or Indemnified Person shall 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 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 written
consent, provided, however, that the indemnifying party shall not unreasonably withhold, delay or condition its consent. No indemnifying
party shall, without the 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. 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.

 

(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. Any Person receiving a payment
pursuant to this Section 6 which person is later determined to not be entitled to such payment shall return such payment to the
person making it.

 

(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.

 

    8 

     

    

 

		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 seller of Registrable Securities guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities
Act) shall be entitled to contribution from any seller 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 net amount of proceeds received by such seller
from the sale of such Registrable Securities.

 

		8.	ASSIGNMENT OF REGISTRATION RIGHTS.

 

The Company shall not assign
this Agreement or any rights or obligations hereunder without the prior written consent of the Investor; provided, however, that any transaction,
whether by merger, reorganization, restructuring, consolidation, financing or otherwise, whereby the Company remains the surviving entity
immediately after such transaction shall not be deemed an assignment. The Investor may not assign its rights under this Agreement
without the prior written consent of the Company, other than to an affiliate of the Investor controlled by Jonathan Cope or Josh Scheinfeld,
in which case the assignee must agree in writing to be bound by the terms and conditions of this Agreement.

 

		9.	AMENDMENT OF REGISTRATION RIGHTS.

 

No provision of this Agreement
may be amended or waived by the parties from and after the date that is one Business Day immediately preceding the initial filing of the
Initial Prospectus Supplement with the SEC. Subject to the immediately preceding sentence, no provision of this Agreement may be (i) amended
other than by a written instrument signed by both parties hereto or (ii) waived other than in a written instrument signed by the party
against whom enforcement of such waiver is sought. 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.

 

		10.	MISCELLANEOUS.

 

(a)               
Notices. Any notices, consents 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 receipt, when sent by facsimile (provided confirmation of transmission is mechanically or electronically
generated and kept on file by the sending party); (iii) upon receipt, when sent by electronic message and confirmation of both electronic
messages are kept on file by the sending party; or (iv) one (1) Business Day after timely deposit with a nationally recognized overnight
delivery service, in each case properly addressed to the party to receive the same. The addresses and facsimile numbers for such communications
shall be:

 

	 	VYNE Therapeutics, Inc.
	 	520 U.S. Highway 22, Suite 204
	 	Bridgewater, New Jersey 08807
	 	Telephone:      800-775-7936
	 	E-mail:  Tyler.Zeronda@VYNEtx.com
	 	Attention:   Tyler Zeronda, CFO

 

    9 

     

    

 

With a copy to (which shall
not constitute notice or service of process):

 

	 	Cooley LLP
	 	One Freedom Square, Reston Town Center
	 	11951 Freedom Drive
	 	14th Floor
	 	Reston, Virginia 20190-5440
	 	Telephone: (703) 456-8000
	 	Facsimile: (703) 456-8100
	 	Email: mballantyne@cooley.com
	 	Attention: Mark Ballantyne

 

If to the Investor:

 

	 	Lincoln Park Capital Fund, LLC
	 	440 North Wells, Suite 410
	 	Chicago, IL 60654

	 	Telephone:	(312) 822-9300
	 	Facsimile:	(312) 822-9301
	 	E-mail:	jscheinfeld@lpcfunds.com/jcope@lpcfunds.com
	 	Attention:	Josh Scheinfeld/Jonathan Cope

 

With a copy to (which shall
not constitute notice or service of process):

 

	 	K&L Gates, LLP
	 	200 S. Biscayne Blvd., Ste. 3900
	 	Miami, Florida 33131

	 	Telephone:	(305) 539-3306
	 	Facsimile: 	(305) 358-7095
	 	E-mail: 	clayton.parker@klgates.com
	 	Attention:	Clayton E. Parker, Esq.

 

If to the Transfer Agent:

 

	 	American Stock Transfer & Trust Company, LLC
	 	6201 15th Avenue
	 	Brooklyn, NY 11219

	 	Telephone:	718-921-8300 ext.6449
	 	Facsimile:	718-765-8782
	 	Email:	 vcirone@astfinancial.com
	 	Attention:	Vito Cirone

 

or at such other
address, e-mail address and/or facsimile number and/or to the attention of such other person as the recipient party has specified by
written notice given to each other party at least one (1) Business Day prior to the effectiveness of such change. Written
confirmation of receipt (A) given by the recipient of such notice, consent or other communication, (B) mechanically or
electronically generated by the sender’s facsimile machine containing the time, date, and recipient facsimile number, (C)
electronically generated by the sender’s electronic mail containing the time, date and recipient email address or (D) provided
by a nationally recognized overnight delivery service, shall be rebuttable evidence of receipt in accordance with clause (i), (ii),
(iii) or (iv) above, respectively. Any party to this Agreement may give any notice or other communication hereunder using any
other means (including messenger service, ordinary mail or electronic mail), but no such notice or other communication shall be
deemed to have been duly given unless it actually is received by the party for whom it is intended.

 

    10 

     

    

 

(b)               
No Waiver No failure or delay in the exercise of any power,
right or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege
preclude other or further exercise thereof or of any other right, power or privilege.

 

(c)               
Governing Law. 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 and venue in the U.S. District Court for the Southern District of New York or, if that court does not have
subject matter jurisdiction, in any state court located in the City and County of New York 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. If any provision of this Agreement shall be invalid or unenforceable in
any jurisdiction, such invalidity or unenforceability shall not affect the validity or enforceability of the remainder of this Agreement
in that jurisdiction or the validity or enforceability of any provision of this Agreement in any other jurisdiction. 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.

 

(d)               
Integration. This Agreement, the Purchase Agreement
and the other Transaction Documents constitute the entire understanding 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 Purchase Agreement and the other Transaction Documents supersede all other prior oral or written
agreements between the Investor, the Company, their affiliates and persons acting on their behalf with respect to the subject matter hereof
and thereof.

 

(e)               
No Third Party Benefits. Subject to the requirements of
Section 8, this Agreement shall inure to the benefit of and be binding upon the permitted successors and assigns of each of the
parties hereto.

 

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

 

    11 

     

    

 

(g)               
 Counterparts. This Agreement may be executed in two or
more identical counterparts, all of which shall be considered one and the same agreement and shall become effective when counterparts
have been signed by each party and delivered to the other party; provided that a facsimile or pdf (or other electronic reproduction of
a) signature shall be considered due execution and shall be binding upon the signatory thereto with the same force and effect as if the
signature were an original, not a facsimile or pdf (or other electronic reproduction of a) signature.

 

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

 

(i)                
No Strict Construction. 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.

 

(j)                
No Third Party Beneficiaries. 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.

 

[Signature Page Follows]

 

    12 

     

    

 

IN WITNESS WHEREOF, the parties have caused
this Registration Rights Agreement to be duly executed as of date first written above.

 

	 	THE COMPANY:

 

	 	VYNE THERAPEUTICS, INC. 

 

		By:	/s/ David Domzalski
		Name:	David Domzalski
		Title:	Chief Executive Officer and President

 

		By:	/s/ Tyler Zeronda
		Name:	Tyler Zeronda
		Title:	Chief Financial Officer and Treasurer

 

	 	THE INVESTOR:

 

	 	LINCOLN PARK CAPITAL FUND, LLC 
	 	BY: LINCOLN PARK CAPITAL, LLC
	 	BY: Rockledge Capital Corporation

 

		By:	/s/ Joshua Scheinfeld
		Name:	Joshua Scheinfeld
		Title:	President

 

    13 

     

    

 

Exhibit
A

 

Information About The Investor Furnished
To The Company By The Investor

Expressly For Use In Connection With Each Registration
Statement and Prospectus

 

Information With Respect to Lincoln Park Capital

 

Immediately prior to the date
of the Purchase Agreement, Lincoln Park Capital Fund, LLC, beneficially owned 0 shares of Common Stock. Josh Scheinfeld and Jonathan Cope,
the Managing Members of Lincoln Park Capital, LLC, the manager of Lincoln Park Capital Fund, LLC, are deemed to be beneficial owners of
all of the Common Stock owned by Lincoln Park Capital Fund, LLC. Messrs. Cope and Scheinfeld have shared voting and investment power over
the shares being offered under the prospectus supplement filed with the SEC in connection with the transactions contemplated under the
Purchase Agreement. Lincoln Park Capital, LLC is not a licensed broker dealer or an affiliate of a licensed broker dealer.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00342-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00342-of-00352.parquet"}]]