Document:

Exhibit 10.1

 

 

LEGACY
BUSINESS BILL OF SALE, 

ASSIGNMENT
AND ASSUMPTION AGREEMENT

This BILL OF SALE,
ASSIGNMENT AND ASSUMPTION AGREEMENT (this “Agreement”) is made as of December 20, 2019 , by and between and
generation hemp, inc. (formerly
known as Home Treasure Finders, Inc.), a Colorado corporation (“Assignor”),
and corey wiegand, an individual
(“Assignee”).

Preliminary Statements

1.       Stock
Purchase Agreement. This Agreement is being executed in connection with that certain Stock Purchase Agreement, dated as of
August 15, 2019 (as amended, the “Stock Purchase Agreement”)., by and between Assignor, HMTF Merger Sub Inc.,
(the “Buyer”), Energy Hunter Resources, Inc., (“EHR”), certain stockholders of EHR (the “Sellers”)
and Gary C. Evans (the “Sellers’ Representative”). Capitalized terms used and not otherwise defined herein
shall have the meanings ascribed thereto in the Stock Purchase Agreement.

2.       Right
to Purchase Legacy Business. Under Section 6.1(d) of the Stock Purchase Agreement, Assignee was granted the right to purchase
the Legacy Business from the Assignor for $160,000 (“Legacy Business Price”).

3.       Legacy
Business. The Legacy Business for purposes of this Agreement means the real estate sales and property management business
described in Item 1. Description of Business contained in the Assignee’s annual report on Form 10-K for fiscal year ended
December 31, 2018, as filed with the SEC, and all related intangible property, telephone and cell phone lines, Legacy Business
business records, sales training materials, copyrights, trademarks, and trade names currently in use in connection with the Legacy
Business. The Legacy Business shall also include (a) any leased or licensed properties and assets; (b) any services, contracts,
instruments, or agreements for services used or related to the performance of the Legacy Business and (c) all contract rights,
accounts receivable and available cash in any Legacy Business bank accounts. For the avoidance of doubt, the Legacy Business shall
not include (i) the commercial real estate related to the cannabis or hemp business, (ii) any real property, (iii) or any Personal
Property, in each case owned by the Company, other than to the extent Personal Property under clause (iii) is primarily used in
connection with, or required for, the Legacy Business, (iv) any accounts, accounts receivable, bank accounts, or cash on deposit
in such bank accounts related to the commercial real estate related to the cannabis or hemp business (which shall include the checking
account of the the Assignor at FirstBank in Denver, Colorado), or (v) any business records related to the commercial real estate
related to the cannabis or hemp business.

NOW, THEREFORE,
in consideration of the foregoing and the mutual agreements contained in this Agreement and the Stock Purchase Agreement, the parties
hereto agree as follows:

1.       Transfer
of Assets and Liabilities. On and subject to the terms and conditions set forth in the Stock Purchase Agreement, effective
as of 12:01 A.M. on December 1, 2019, (the “Effective Date”), Assignor hereby grants, sells, transfers and assigns
to Assignee, its successors and assigns, all of Assignor’s right, title and interest in and to the Legacy Business (as defined
above) used in connection with the Legacy Business and the other activities incidental thereto.

 

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2.       Assignment
and Assumption. On and subject to the terms and conditions set forth in the Stock Purchase Agreement, as of the Effective Date,
Assignor hereby assigns, conveys and transfers to Assignee, and Assignee hereby accepts and assumes, only those rights, obligations
and liabilities of Assignor used in connection with the Legacy Business. Schedule 1 hereto sets forth the assigned assets and the
assigned liabilities.

3.       Alternative
Consideration. At the sole option of the Assignee, Assignee shall have the right to redeem a portion of Assignee’s common
stock ownership in Assignor as consideration for the Legacy Business, in lieu of paying to Assignor the Legacy Business Price in
immediately available funds. Assignee would be required to redeem ownership equivalent to 432,432 shares of common stock of the
Assignor to satisfy the required payment of the Legacy Business Price. To the extent that the Assignee utilizes alternative consideration,
as set forth in the Stock Purchase Agreement, the shares utilized shall be returned to treasury and re-issued on a pro rata basis
to their ownership interests to the shareholders of record of the Parent as of the day immediately preceding the date of Closing
other than the Assignee.

4.       Binding
Effect. This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective successors
and permitted assigns.

5.       Applicable
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Colorado, without regard
to its conflicts of laws principles.

6.       Counterparts.
This Agreement may be executed in multiple counterparts, each of which shall be deemed an original, and all of which together shall
constitute one and the same document with the same effect as if such signatures were on the same page. Signatures received via
facsimile or other electronic transmission shall be accepted as originals.

7.       Stock
Purchase Agreement Controls. In the event of any conflict or inconsistency between the terms of this Agreement and the terms
of the Stock Purchase Agreement, other than the definition of Legacy Business, the terms of the Stock Purchase Agreement shall
govern and control.

7.       No
Third-Party Beneficiaries. This Agreement is solely for the benefit of the parties hereto and no provision of this Agreement
shall be deemed to confer upon third parties any remedy, claim, liability, reimbursement, claim of action or other right in excess
of those existing without reference to this Agreement.

 

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8.       Severability.
Any provision of this Agreement held by a court of competent jurisdiction to be invalid or unenforceable shall not impair or invalidate
the remainder of this Agreement, and the effect thereof shall be confined to the provision so held to be invalid or unenforceable.

9.       Amendment.
Neither this Agreement nor any term hereof may be amended, waived, discharged or terminated, except by a written instrument duly
executed on behalf of each party hereto by its duly authorized officer or employee (or other authorized person).

10.       Descriptive
Headings. The division of this Agreement into sections and other subdivisions and the insertion of headings are for convenience
of reference only and shall not affect or be utilized in construing or interpreting this Agreement.

[Signature Page Follows]

 

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IN WITNESS WHEREOF,
Assignor and Assignee have duly executed this Agreement as of the date first above written.

ASSIGNOR:

GENERATION
HEMP, INC.

 

By: /s/ Gary C. Evans

Name: Gary C. Evans

Title: Authorized Signatory

 

ASSIGNEE: 

COREY WIEGAND, an Individual

 

By: _/s/ Corey Wiegand_____

 Name: Corey Wiegand

 

    	 	4Exhibit 4.1

 

FORM OF COMMON STOCK WARRANT

 

THIS WARRANT AND THE SHARES OF COMMON
STOCK ISSUED UPON ITS

EXERCISE ARE SUBJECT TO THE RESTRICTIONS
ON

            TRANSFER
SET FORTH IN SECTION 5 OF THIS WARRANT       

 

	Warrant No. CS-[●]	Number of Shares: [●]
	 	(subject to adjustment)
	Date of Issuance: December 23, 2019	 
	Original Issue Date (as defined in subsection 2(a)): December 23, 2019	 

Selecta Biosciences, Inc.

 

Common Stock Purchase Warrant

 

(Void after December 23, 2024)

 

Selecta Biosciences, Inc., a Delaware corporation
(the “Company”), for value received, hereby certifies that [●], or its registered assigns (the “Registered
Holder”), is entitled, subject to the terms and conditions set forth below, to purchase from the Company, at any time
or from time to time on or after the date of issuance and on or before 5:00 p.m. (New York City time) on December 23, 2024 shares
of Common Stock, $0.0001 par value per share, of the Company (“Common Stock”), at a purchase price of $1.46
per share. The shares purchasable upon exercise of this Warrant, and the purchase price per share, each as adjusted from time to
time pursuant to the provisions of this Warrant, are hereinafter referred to as the “Warrant Shares” and the
“Purchase Price,” respectively. This Warrant is one of the Common Stock Purchase Warrants (the “Warrants”)
issued pursuant to that certain Securities Purchase Agreement, dated as of December 18, 2019, by and among the Company and each
of the investors party thereto (the “Purchase Agreement”). Capitalized terms used herein have the respective
meanings ascribed thereto in the Purchase Agreement unless otherwise defined herein.

 

1.       Exercise.

 

(a)       Exercise
for Cash. Subject to the limitations set forth in Section 1(e), the Registered Holder may elect to exercise this Warrant, in
whole or in part and at any time or from time to time, by surrendering this Warrant, with the purchase form appended hereto as
Exhibit I duly executed by or on behalf of the Registered Holder, at the principal office of the Company, or at such
other office or agency as the Company may designate, accompanied by payment in full, in lawful money of the United States, of the
Purchase Price payable in respect of the number of Warrant Shares purchased upon such exercise.

 

     

     

    

 

(b)     Cashless
Exercise. Subject to the limitations set forth in Section 1(e), the Registered Holder may also elect to exercise this
Warrant, in whole or in part, on a cashless basis, by surrendering this Warrant, with the purchase form appended hereto as Exhibit
I duly executed by or on behalf of the Registered Holder, at the principal office of the Company, or at such other office
or agency as the Company may designate, by canceling a portion of this Warrant in payment of the Purchase Price payable in
respect of the number of Warrant Shares purchased upon such exercise. In the event of an exercise pursuant to this subsection
1(b), the number of Warrant Shares issued to the Registered Holder shall be determined
according to the following formula:

 

    [(A-B)*(X)]    

(A)

 

	 	
        Where:
	 
	 	 	 
	 	A =	the VWAP on the Trading Day immediately preceding the date of such election;
	 	 	 
	 	B =	the Purchase Price then in effect; and
	 	 	 
	 	X =	the number of Warrant Shares for which this Warrant is being exercised (which shall include both the number of Warrant Shares issued to the Registered Holder and the number of Warrant Shares subject to the portion of the Warrant being cancelled in payment of the Purchase Price).

 

The “VWAP”
means, for any date, the price determined by the first of the following clauses that applies: (i) if the Common Stock is then listed
on the Nasdaq Global Select Market, the Nasdaq Global Market, the Nasdaq Capital Market or the New York Stock Exchange (such market,
the “Trading Market”), the daily volume-weighted average price of the Common Stock for such date (or the nearest
preceding date) on the Trading Market as reported by Bloomberg Financial L.P. (based on a “Trading Day” from
9:30 a.m. Eastern Time to 4:02 p.m. Eastern Time); (ii) the volume-weighted average price of the Common Stock for such date (or
the nearest preceding date) on the OTC Bulletin Board; (iii) if the Common Stock is not then listed on a Trading Market or quoted
on the OTC Bulletin Board and if prices for the Common Stock are then reported in the “Pink Sheets” published by the
Pink Sheets, LLC (or a similar organization or agency succeeding to its functions of reporting prices), the most recent bid price
per share of the Common Stock so reported; or (iv) in all other cases, the fair market value of a share of Common Stock as determined
by a good faith determination of the Company’s Board of Directors.

 

(c)       Exercise
Date. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the
day on which this Warrant shall have been surrendered to the Company as provided in subsection 1(a) or 1(b) above (the “Exercise
Date”). At such time, the person or persons in whose name or names any certificates for Warrant Shares shall be issuable
upon such exercise as provided in subsection 1(d) below shall be deemed to have become the holder or holders of record of the Warrant
Shares represented by such certificates.

 

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(d)      Issuance
Upon Exercise. As soon as practicable after the exercise of this Warrant in whole or in part, and in any event within 5 days
thereafter, the Company, at its expense, will cause to be issued in the name of, and delivered to, the Registered Holder, or as
the Registered Holder (upon payment by the Registered Holder of any applicable transfer taxes) may direct:

 

(i)      
a certificate or certificates for the number of full Warrant Shares to which the Registered Holder shall be entitled upon
such exercise transmitted by the transfer agent of the Company to the Registered Holder in electronic book entry form to the
account of such Registered Holder or, upon request of the Registered Holder, by physical
delivery to the address specified by the Registered Holder, plus, in lieu of any fractional share to which the Registered
Holder would otherwise be entitled, cash in an amount determined pursuant to Section 3 hereof; and

 

(ii)    
 in case such exercise is in part only, a new warrant or warrants (dated the date hereof) of like tenor, calling in the aggregate
on the face or faces thereof for the number of Warrant Shares equal (without giving effect to any adjustment therein) to the number
of such shares called for on the face of this Warrant minus the number of Warrant Shares for which this Warrant was so exercised
(which, in the case of an exercise pursuant to subsection 1(b), shall include both the number of Warrant Shares issued to the
Registered Holder pursuant to such partial exercise and the number of Warrant Shares subject to the portion of the Warrant being
cancelled in payment of the Purchase Price). 

 

(e)       [Limitations
on Exercise. Subject to the last sentence of this Section 1(e), the Company shall not effect the exercise of this
Warrant, and the Registered Holder shall not have the right to exercise this Warrant, to the extent that after giving effect
to such exercise, such Registered Holder (together with such Registered Holder’s Affiliates and any other
Persons acting as a group together) would beneficially own in excess of [9.999]%1 (the
“Maximum Percentage”) of the shares of Common Stock outstanding immediately after giving effect to such
exercise. For purposes of the foregoing sentence, the aggregate number of shares of Common Stock beneficially owned by such
Person and its Affiliates shall include the number of shares of Common Stock issuable upon exercise of this Warrant with
respect to which the determination of such sentence is being made, but shall exclude shares of Common Stock which would be
issuable upon (i) exercise of the remaining, unexercised portion of this Warrant beneficially owned by such Person and its
Affiliates and (ii) exercise or conversion of the unexercised or unconverted portion of any other securities of the Company
beneficially owned by such Person and its Affiliates (including, without limitation, any convertible notes or convertible
preferred stock or warrants) subject to a limitation on conversion or exercise analogous to the limitation contained herein.
For purposes of this Warrant, in determining the number of outstanding shares of Common Stock, the Registered Holder may rely
on the number of outstanding shares of Common Stock as reflected in (1) the Company’s most recent Form 10-K, Proxy
Statement, Form 10-Q, Current Report on Form 8-K or other public filing with the Securities and Exchange Commission, as the
case may be, (2) a more recent public announcement by the Company or (3) any other notice by the Company or the
Company’s transfer agent setting forth the number of shares of Common Stock outstanding. For any reason at any time,
upon the written or oral request of the Registered Holder, where such request indicates that it is being made pursuant to
this Warrant, the Company shall within one (1) Trading Day confirm orally and in writing to the Registered Holder the number
of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined
after giving effect to the conversion or exercise of securities of the Company, including the Warrants, by the Registered
Holder and its Affiliates since the date as of which such number of outstanding shares of Common Stock was reported. Upon
delivery of a written notice to the Company, the Registered Holder may from time to time increase or decrease the Maximum
Percentage to any other percentage as specified in such notice; provided that in no event shall such Maximum Percentage be
increased to more than 19.99%; provided, further, that (i) any such increase in the Maximum Percentage
will not be effective until the sixty-first (61st) day after such notice is delivered to the Company and (ii) any such
increase or decrease will apply only to the Registered Holder and not to any other holder of Warrants. For purposes of
clarity, the shares of Common Stock issuable pursuant to the terms of this Warrant in excess of the Maximum Percentage shall
not be deemed to be beneficially owned by the Registered Holder for any purpose including for purposes of Section 13(d) or
Rule 16a-1(a)(1) of the 1934 Act. No prior inability to exercise this Warrant pursuant to this paragraph shall have any
effect on the applicability of the provisions of this paragraph with respect to any subsequent determination of
exercisability. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict
conformity with the terms of this Section 1(e) to the extent necessary to correct this paragraph or any portion of this
paragraph which may be defective or inconsistent with the intended beneficial ownership limitation contained in this
Section 1(e) or to make changes or supplements necessary or desirable to properly give effect to such limitation. The
limitations set forth in this Section 1(e) shall not apply to exercises of this Warrant that occur prior to and expressly in
connection with the Company’s consummation of a Fundamental Transaction.]

 

 

1
Insert Maximum Percentage as indicated on the Buyer’s signature page attached to the Securities Purchase Agreement.

 

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(f)      
[Notwithstanding anything to the contrary contained herein[, including Section 1(e),] and subject to the last sentence of
this Section 1[(f)], the Company shall not effect any exercise of this Warrant, and the Registered Holder shall not be
entitled to exercise this Warrant for a number of Warrant Shares in excess of that number of Warrant Shares which, upon
giving effect to such exercise, would cause (i) the aggregate number of shares of Common Stock beneficially owned by the
Registered Holder and its Affiliates and any other Persons whose beneficial ownership of Common Stock would be aggregated
with the Registered Holder’s for purposes of Section 13(d) of the 1934 Act and the rules and regulations promulgated
thereunder, including any “group” of which the Registered Holder is a member, to exceed 19.99% of the total
number of issued and outstanding shares of Common Stock of the Company following such exercise, or (ii) the combined voting
power of the securities of the Company beneficially owned by the Registered Holder and its Affiliates and any other Persons
whose beneficial ownership of Common Stock would be aggregated with the Registered Holder’s for purposes of Section
13(d) of the 1934 Act to exceed 19.99% of the combined voting power of all of the securities of the Company then outstanding
following such exercise. For purposes of this Section 2(e), the aggregate number of shares of Common Stock or voting
securities beneficially owned by the Registered Holder and its Affiliates and any other Persons whose beneficial ownership of
Common Stock would be aggregated with the Registered Holder’s for purposes of Section 13(d) of the 1934 Act shall
include the shares of Common Stock issuable upon the exercise of this Warrant with respect to which such determination is
being made, but shall exclude the number of shares of Common Stock which would be issuable upon (x) exercise of the remaining
unexercised and non-cancelled portion of this Warrant by the Registered Holder and (y) exercise or conversion of the
unexercised, non-converted or non-cancelled portion of any other securities of the Company that do not have voting power
(including without limitation any securities of the Company which would entitle the holder thereof to acquire at any time
Common Stock, including without limitation any debt, preferred stock, right, option, warrant or other instrument that is at
any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common
Stock), is subject to a limitation on conversion or exercise analogous to the limitation contained herein and is beneficially
owned by the Registered Holder or any of its Affiliates and other Persons whose beneficial ownership of Common Stock would be
aggregated with the Registered Holder’s for purposes of Section 13(d) of the 1934 Act. The limitations set forth in
this Section 1[(f)] shall not apply to exercises of this Warrant that occur prior to and
expressly in connection with the Company’s consummation of a Fundamental Transaction.]2

 

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2.        Adjustments.

 

(a)
     Adjustment for Stock Splits and Combinations. If the Company shall at any time or from
time to time after the date on which this Warrant was first issued (or, if this Warrant was issued upon partial exercise of,
or in replacement of, another warrant of like tenor, then the date on which such original warrant was first issued) (either
such date being referred to as the “Original Issue Date”) effect a subdivision of the outstanding Common
Stock, the Purchase Price then in effect immediately before that subdivision shall be proportionately decreased. If the
Company shall at any time or from time to time after the Original Issue Date combine the outstanding shares of Common Stock,
the Purchase Price then in effect immediately before the combination shall be proportionately increased. Any adjustment under
this paragraph shall become effective at the close of business on the date the subdivision or combination becomes
effective.

 

(b)      Adjustment for Certain Dividends and Distributions. In the event the Company at any time, or from time to
time after the Original Issue Date shall make or issue, or fix a record date for the determination of holders of Common Stock
entitled to receive, a dividend or other distribution payable in additional shares of Common Stock, then and in each such
event the Purchase Price then in effect immediately before such event shall be decreased as of the time of such issuance or,
in the event such a record date shall have been fixed, as of the close of business on such record date, by multiplying the
Purchase Price then in effect by a fraction:

 

(1)       the
numerator of which shall be the total number of shares of Common Stock issued and outstanding immediately prior to the time of
such issuance or the close of business on such record date, and

 

(2)       the
denominator of which shall be the total number of shares of Common Stock issued and outstanding immediately prior to the time of
such issuance or the close of business on such record date plus the number of shares of Common Stock issuable in payment of such
dividend or distribution;

 

provided, however, that if such record date shall
have been fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, the Purchase
Price shall be recomputed accordingly as of the close of business on such record date and thereafter the Purchase Price shall be
adjusted pursuant to this paragraph as of the time of actual payment of such dividends or distributions.

 

(c)      Adjustment
in Number of Warrant Shares. When any adjustment is required to be made in the Purchase Price pursuant to
subsections 2(a) or 2(b), the number of Warrant Shares purchasable upon the exercise of this Warrant shall be changed to
the number determined by dividing (i) an amount equal to the number of shares issuable upon the exercise of this Warrant
immediately prior to such adjustment, multiplied by the Purchase Price in effect immediately
prior to such adjustment, by (ii) the Purchase Price in effect immediately after such adjustment.

 

 

2 To
be added only for investors which would otherwise acquire more than 19.99% 

 

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(d)      Adjustments
for Other Dividends and Distributions. In the event the Company at any time or from time to time after the Original Issue Date
shall make or issue, or fix a record date for the determination of holders of Common Stock entitled to receive, a dividend or other
distribution payable in securities of the Company (other than shares of Common Stock) or in cash or other property (other than
regular cash dividends paid out of earnings or earned surplus, determined in accordance with generally accepted accounting principles),
then and in each such event provision shall be made so that the Registered Holder shall receive upon exercise hereof, in addition
to the number of shares of Common Stock issuable hereunder, the kind and amount of securities of the Company, cash or other property
which the Registered Holder would have been entitled to receive had this Warrant been exercised on the date of such event and had
the Registered Holder thereafter, during the period from the date of such event to and including the Exercise Date, retained any
such securities receivable during such period, giving application to all adjustments called for during such period under this Section
2 with respect to the rights of the Registered Holder.

 

(e)      Adjustment
for Reorganization. If there shall occur any reorganization, recapitalization, reclassification, consolidation or merger involving
the Company in which the Common Stock is converted into or exchanged for securities, cash or other property (other than a transaction
covered by subsections 2(a), 2(b) or 2(d)) (collectively, a “Reorganization”), then, following such Reorganization,
the Registered Holder shall receive upon exercise hereof the kind and amount of securities, cash or other property which the Registered
Holder would have been entitled to receive pursuant to such Reorganization if such exercise had taken place immediately prior to
such Reorganization. In any such case, appropriate adjustment (as determined in good faith by the Board) shall be made in the application
of the provisions set forth herein with respect to the rights and interests thereafter of the Registered Holder, to the end that
the provisions set forth in this Section 2 (including provisions with respect to changes in and other adjustments of the Purchase
Price) shall thereafter be applicable, as nearly as reasonably may be, in relation to any securities, cash or other property thereafter
deliverable upon the exercise of this Warrant.

 

(f)       Fundamental
Transactions. If the Company shall enter into or be party to a Fundamental Transaction (as defined below) and (i) if
the successor entity is a publicly traded corporation whose common stock is quoted on or listed for trading on an Eligible
Market (as defined below), the successor entity shall assume in writing all of
the obligations of the Company under this Warrant pursuant to written agreements in customary form, including agreements to
deliver to each Registered Holder of Warrants in exchange for such Warrants a written instrument issued by the successor
entity substantially similar in form and substance to this Warrant and exercisable for a corresponding number of shares of
capital stock equivalent to the shares of Common Stock acquirable and receivable upon exercise of this Warrant (without
regard to any limitations on the exercise of this Warrant) on or prior to the date of such Fundamental Transaction and
(ii) if the successor entity is not a publicly traded corporation whose common stock is quoted on or listed for trading
on an Eligible Market, the successor entity shall assume in writing all of the obligations of the Company under this Warrant
pursuant to written agreements in customary form, including agreements to deliver to each holder of Warrants in exchange for
such Warrants a written instrument issued by the successor entity substantially similar in form and substance to this Warrant
exercisable for the consideration that would have been issuable in the
Fundamental Transaction in respect of the Warrant Shares had this Warrant been exercised immediately prior to the
consummation of the Fundamental Transaction. The provisions of this Section 2(f) shall apply similarly and equally to
successive Fundamental Transactions and shall be applied without regard to any limitations on the exercise of this
Warrant. Notwithstanding the foregoing, in the event of a Fundamental Transaction other than pursuant to clause
(i) above, then, at the request of the Majority Holders delivered before the 15th day after such Fundamental
Transaction, the Company (or the successor entity) shall purchase this Warrant and all other outstanding Warrants from the
Registered Holders by paying to the Registered Holders, within ten (10) business days after such request (or, if later,
on the effective date of the Fundamental Transaction), cash in an amount equal to the Black Scholes Value (as defined below) of
the remaining unexercised portion of each Warrant, as applicable, on the date of such Fundamental Transaction. For the sake
of clarity, such calculation shall assume full exercisability of this Warrant.

 

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“Black
Scholes Value” means the value of this Warrant based on the Black and Scholes Option Pricing Model obtained from the
“OV” function on Bloomberg determined as of the day immediately following the public announcement of the applicable
Fundamental Transaction and reflecting (i) a risk-free interest rate corresponding to the U.S. Treasury rate for a period
equal to the remaining term of this Warrant as of such date of request and (ii) an expected volatility equal to 70%.

 

“Eligible
Market” means any of the Nasdaq Global Select Market, the Nasdaq Global Market,
the Nasdaq Capital Market or the New York Stock Exchange (or any successors to any of the
foregoing). 

 

“Fundamental
Transaction” means that (A) the Company shall, directly or indirectly, in one or more related transactions, (i) consolidate
or merge with or into (whether or not the Company is the surviving corporation) another Person, or (ii) sell, assign, transfer,
convey or otherwise dispose of all or substantially all of the properties or assets of the Company to another Person, or (iii) allow
another Person to make a purchase, tender or exchange offer that is accepted by the holders of more than 50% of the outstanding
shares of Common Stock (not including any shares of Common Stock held by the Person or Persons making or party to, or associated
or affiliated with the Persons making or party to, such purchase, tender or exchange offer), or (iv) consummate a stock purchase
agreement or other business combination (including, without limitation, a reorganization, recapitalization, spin-off or
scheme of arrangement) with another Person whereby such other Person acquires more than 50% of the outstanding shares of Common
Stock (not including any shares of Common Stock held by the other Person or other Persons making or party to, or associated or
affiliated with the other Persons making or party to, such stock purchase agreement or other business combination) or (B) any
“person” or “group” (as these terms are used for purposes of Sections 13(d) and 14(d) of the
1934 Act) is or shall become the “beneficial
owner” (as defined in Rule 13d-3 under the 1934 Act), directly
or indirectly, of more than 50% of the aggregate ordinary voting power represented by issued and outstanding Common Stock. 

 

“Majority
Holders” means the holders of the Warrants representing a majority of the shares of Common Stock underlying the Warrants
then outstanding (disregarding for this purpose any and all limitations of any kind on exercise of any Warrants).

 

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

 

(g)      Certificate
as to Adjustments. Upon the occurrence of each adjustment or readjustment of the Purchase Price pursuant to this Section 2,
the Company at its expense shall, as promptly as reasonably practicable but in any event not later than 10 days thereafter, compute
such adjustment or readjustment in accordance with the terms hereof and furnish to the Registered Holder a certificate setting
forth such adjustment or readjustment (including the kind and amount of securities, cash or other property for which this Warrant
shall be exercisable and the Purchase Price). The Company shall, as promptly as reasonably practicable after the written request
at any time of the Registered Holder (but in any event not later than 10 days thereafter), furnish or cause to be furnished to
the Registered Holder a certificate setting forth (i) the Purchase Price then in effect and (ii) the number of shares
of Common Stock and the amount, if any, of other securities, cash or property which then would be received upon the exercise of
this Warrant. 

 

(h)      All
calculations under this Section 2 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be.

 

3.       Fractional
Shares. The Company shall not be required upon the exercise of this Warrant to issue any fractional shares, but shall pay the
value thereof to the Registered Holder in cash on the basis of the VWAP used in connection with the calculation set forth in subsection
1(b) above upon the applicable exercise.

 

4.       Investment
Representations. The initial Registered Holder represents and warrants to the Company as follows:

 

(a)      Investment.
The Registered Holder is acquiring the Warrant, and (if and when the Registered Holder exercises this Warrant) the Registered Holder
will acquire the Warrant Shares, for the Registered Holder’s own account for investment and not with a view to, or for sale
in connection with, any distribution thereof, nor with any present intention of distributing or selling the same; and the Registered
Holder has no present or contemplated agreement, undertaking, arrangement, obligation, indebtedness or commitment providing for
the disposition thereof. 

 

(b)      Accredited
Investor. The Registered Holder is an "accredited investor" as defined in Rule 501(a) under the 1933 Act.

 

(c)       Experience.
The Registered Holder has made such inquiry concerning the Company and its business and personnel as the Registered Holder has
deemed appropriate; and the Registered Holder has sufficient knowledge and experience in finance and business that the Registered
Holder is capable of evaluating the risks and merits of the Registered Holder’s investment in the Company.

 

5.       Transfers,
etc.

 

(a)     
This Warrant and the Warrant Shares shall not be sold or transferred unless either (i) they first shall have been
registered under the Act, or (ii) the Company first shall have been furnished with
an opinion of legal counsel, reasonably satisfactory to the Company, to the effect that such sale or transfer is exempt from
the registration requirements of the Act.

 

    - 8 -

     

    

 

(b)      The
Registered Holder acknowledges and agrees that the Warrant Shares shall be subject to the restrictive legend requirements set forth
in that certain Securities Purchase Agreement, dated December 18, 2019, between the Company and the investors named therein.

 

(c)      The
Company will maintain a register containing the name and address of the Registered Holder of this Warrant. The Registered Holder
may change the Registered Holder’s address as shown on the warrant register by written notice to the Company requesting such
change.

 

(d)      Subject
to the provisions of Section 5 hereof, this Warrant and all rights hereunder are transferable, in whole or in part, upon surrender
of this Warrant with a properly executed assignment (in the form of Exhibit II hereto) at the principal office of the
Company (or, if another office or agency has been designated by the Company for such purpose, then at such other office or agency).

 

6.       Notices
of Record Date, etc. In the event:

 

(a)      the
Company shall take a record of the holders of its Common Stock (or other stock or securities at the time deliverable upon the exercise
of this Warrant) for the purpose of entitling or enabling them to receive any dividend or other distribution, or to receive any
right to subscribe for or purchase any shares of stock of any class or any other securities, or to receive any other right; or

 

(b)     of any
capital reorganization of the Company, any reclassification of the Common Stock of the Company, any consolidation or merger of
the Company with or into another corporation (other than a consolidation or merger in which the Company is the surviving entity
and its Common Stock is not converted into or exchanged for any other securities or property), or any transfer of all or substantially
all of the assets of the Company; or

 

(c)      of the
voluntary or involuntary dissolution, liquidation or winding-up of the Company,

 

then, and in each such case, the Company will send or cause
to be sent to the Registered Holder a notice specifying, as the case may be, (i) the record date for such dividend, distribution
or right, and the amount and character of such dividend, distribution or right, or (ii) the effective date on which such reorganization,
reclassification, consolidation, merger, transfer, dissolution, liquidation or winding-up is to take place, and the time, if any
is to be fixed, as of which the holders of record of Common Stock (or such other stock or securities at the time deliverable upon
the exercise of this Warrant) shall be entitled to exchange their shares of Common Stock (or such other stock or securities) for
securities or other property deliverable upon such reorganization, reclassification, consolidation, merger, transfer, dissolution,
liquidation or winding-up. Such notice shall be sent at least 3 days prior to the record date or effective date for the event specified
in such notice, and the Registered Holder shall keep any such notice confidential.

 

    - 9 -

     

    

 

7.       Reservation
of Stock. The Company will at all times reserve and keep available, solely for issuance and delivery upon the exercise of this
Warrant, such number of Warrant Shares and other securities, cash and/or property, as from time to time shall be issuable upon
the exercise of this Warrant. Such reservation shall comply without regard to the provisions of Section 1(e) [and Section 1(f)].

 

8.       Exchange
or Replacement of Warrants. 

 

(a)      Upon
the surrender by the Registered Holder, properly endorsed, to the Company at the principal office of the Company, the Company will,
subject to the provisions of Section 5 hereof, issue and deliver to or upon the order of the Registered Holder, at the Company’s
expense, a new Warrant or Warrants of like tenor, in the name of the Registered Holder or as the Registered Holder (upon payment
by the Registered Holder of any applicable transfer taxes) may direct, calling in the aggregate on the face or faces thereof for
the number of shares of Common Stock (or other securities, cash and/or property) then issuable upon exercise of this Warrant.

 

(b)      Upon
receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant and (in
the case of loss, theft or destruction) upon delivery of an indemnity agreement (with surety if reasonably required) in an amount
reasonably satisfactory to the Company, or (in the case of mutilation) upon surrender and cancellation of this Warrant, the Company
will issue, in lieu thereof, a new Warrant of like tenor.

 

9.       Notices.
All notices and other communications from the Company to the Registered Holder in connection herewith shall be mailed by certified
or registered mail, postage prepaid, or sent via a reputable nationwide overnight courier service guaranteeing next business day
delivery, to the address last furnished to the Company in writing by the Registered Holder. All notices and other communications
from the Registered Holder to the Company in connection herewith shall be mailed by certified or registered mail, postage prepaid,
or sent via a reputable nationwide overnight courier service guaranteeing next business day delivery, to the Company at its principal
office set forth below. If the Company should at any time change the location of its principal office to a place other than as
set forth below, it shall give prompt written notice to the Registered Holder and thereafter all references in this Warrant to
the location of its principal office at the particular time shall be as so specified in such notice. All such notices and communications
shall be deemed delivered (i) two business days after being sent by certified or registered mail, return receipt requested,
postage prepaid, or (ii) one business day after being sent via a reputable nationwide overnight courier service guaranteeing
next business day delivery.

 

10.       No
Rights as Stockholder. Until the exercise of this Warrant, the Registered Holder shall not have or exercise any rights by virtue
hereof as a stockholder of the Company. Notwithstanding the foregoing, in the event (i) the Company effects a split of the
Common Stock by means of a stock dividend and the Purchase Price of and the number of Warrant Shares are adjusted as of the date
of the distribution of the dividend (rather than as of the record date for such dividend), and (ii) the Registered Holder
exercises this Warrant between the record date and the distribution date for such stock dividend, the Registered Holder shall be
entitled to receive, on the distribution date, the stock dividend with respect to the shares of Common Stock acquired upon such
exercise, notwithstanding the fact that such shares were not outstanding as of the close of business on the record date for such
stock dividend.

 

    - 10 -

     

    

 

11.       Amendment
or Waiver. Any term of this Warrant may be amended or waived only by an instrument in writing signed by the party against which
enforcement of the change or waiver is sought. No waivers of any term, condition or provision of this Warrant, in any one or more
instances, shall be deemed to be, or construed as, a further or continuing waiver of any such term, condition or provision.

 

12.       Section
Headings. The section headings in this Warrant are for the convenience of the parties and in no way alter, modify, amend, limit
or restrict the contractual obligations of the parties.

 

13.       Governing
Law. This Warrant shall be governed by, and construed in accordance with, the internal laws of the Commonwealth of Massachusetts
without regard to the choice of law principles thereof that would result in the application of the laws of any other jurisdiction.

 

14.       Facsimile
Signatures. This Warrant may be executed by facsimile signature.

 

[remainder of page intentionally left blank]

 

    - 11 -

     

    

 

EXECUTED as of the Date of Issuance indicated
above.

 

 

	 	SELECTA BIOSCIENCES, INC.
	 	 
	 	By:	 
	 	 
	 	Name:	              
	 	 
	 	Title:	 

 

    - 12 -

     

    

 

EXHIBIT I

 

PURCHASE FORM

 

	To:_________________	 	Dated:____________

 

The undersigned, pursuant to the provisions
set forth in the attached Warrant (No. ___), hereby elects to purchase (check applicable box):

 

 ̈
       ____ shares of the Common Stock of Selecta Biosciences, Inc. covered by such Warrant; or

 

 ̈       the
maximum number of shares of Common Stock covered by such Warrant pursuant to the cashless exercise procedure set forth in subsection 1(b).

 

The undersigned herewith makes payment of
the full purchase price for such shares at the price per share provided for in such Warrant. Such payment takes the form of (check
applicable box or boxes):

 

		 ̈	$______ in lawful money of the United States; and/or

 

		 ̈	the cancellation of such number of Warrant Shares as is necessary, in accordance with the formula set forth in subsection 1(b),
to exercise this Warrant with respect to the maximum number of Warrant Shares purchasable pursuant to the cashless exercise procedure
set forth in subsection 1(b).

 

	 	Signature:	 
	 	 	 
	 	Address:	 
	 	 	 
	 	 	 

 

    - 13 -

     

    

 

EXHIBIT II

 

ASSIGNMENT FORM

 

FOR VALUE RECEIVED, ________________________________________
hereby sells, assigns and transfers all of the rights of the undersigned under the attached Warrant (No. ____) with respect to
the number of shares of Common Stock of Selecta Biosciences, Inc. covered thereby set forth below, unto:

 

	Name of Assignee	Address	No. of Shares
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

	Dated:	 	 	 	Signature:	 

 

	Signature Guaranteed:	 

 

	By:	 	 	 

 

    - 14 -

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