Document:

EXHIBIT 4.19

 

SKYLINE MEDICAL INC.

 

NEW WARRANT AGENCY AGREEMENT

 

THIS NEW WARRANT AGENCY AGREEMENT (this “Warrant
Agreement”) made as of [____________], 2016 (the “Issuance Date”), between Skyline Medical Inc., a
Delaware corporation, with offices at 2915 Commers Drive, Suite 900, Eagan, MN 55121 (the “Company”), and Corporate
Stock Transfer, Inc., a Colorado corporation, with offices at 3200 Cherry Creek Drive South, Suite 430, Denver, CO 80209 (“Warrant
Agent”).

 

WHEREAS, the Company has extended an offer
(the “Exchange Offer”) to all holders (“Holders”) of the Company’s issued and outstanding
Units (the “Existing Units”), each consisting of (a) one share of common stock, (b) one share of Series B Preferred
Stock (which will convert into one share of common stock after the Units separate) and (c) four Series A Warrants, each of which
can be exercised for one share of common stock at $4.95 per share or for a variable number of shares upon a cashless exercise,
depending on the market value of our common stock at the time of exercise;

WHEREAS, pursuant to the Exchange Offer,
the Holders may exchange for each Existing Unit tendered during the Exchange Offer one new unit (the “New Units”),
each consisting of two Shares, four Series B Exchange Warrants and four Series C Reset Warrants (the Series B Exchange Warrants
and Series C Reset Warrants are collectively referred to as the “New Warrants”);

WHEREAS, the Company has filed with the
U.S. Securities and Exchange Commission a Registration Statement, No. [____________] on Form S-4 (as the same may be amended from
time to time, the “Registration Statement”) for the registration, under the Securities Act of 1933, as amended
of, the New Units pursuant to the Exchange Offer, including the registration of the New Warrants to be issued in the Exchange
Offer and the Company’s common stock issuable upon exercise of the New Warrants to be issued pursuant to the Exchange Offer
(the “Warrant Shares”), and such Registration Statement was declared effective on [_______________], 2016;

WHEREAS, the Company desires the Warrant Agent
to act on behalf of the Company, and the Warrant Agent is willing to so act, in connection with the issuance, registration, transfer,
exchange and exercise of the New Warrants;

 

WHEREAS, the Company desires to provide for
the form and provisions of the New Warrants, the terms upon which they shall be issued and exercised, and the respective rights,
limitation of rights, and immunities of the Company, the Warrant Agent, and the Holders; and

 

WHEREAS, all acts and things have been done
and performed which are necessary to make the New Warrants, when executed on behalf of the Company and countersigned by or on behalf
of the Warrant Agent, as provided herein, the valid and binding obligations of the Company, and to authorize the execution and
delivery of this Warrant Agreement.

 

NOW, THEREFORE, in consideration of the mutual
agreements herein contained, the parties hereto agree as follows:

 

1.                 
Definitions. Unless otherwise defined herein, all capitalized terms shall have the meanings set forth in the
forms of Series B Exchange Warrants and Series C Reset Warrants.

 

    	 	1	 

    

    

2.                 
Appointment of Warrant Agent. The Company hereby appoints the Warrant Agent to act as agent for the Company
for the New Warrants, and the Warrant Agent hereby accepts such appointment and agrees to perform the same in accordance with the
terms and conditions set forth in this Warrant Agreement.

 

3.                 
Book-Entry Warrants.

 

3.1             
The New Warrants shall be issuable in book entry form. Ownership of beneficial interests in the New Warrants shall be shown
on, and the transfer of such ownership shall be effected through, records maintained by (i) the Warrant Agent or its nominee
for each New Warrant or (ii) institutions that have accounts with the Warrant Agent.

 

3.2             
If the Warrant Agent subsequently ceases to make its book-entry settlement system available for the New Warrants, the Company
may instruct the Warrant Agent regarding other arrangements for book-entry settlement or may instruct the Warrant Agent to deliver
to each Holder a Warrant Certificate in a form to be mutually agreed upon by the parties.

 

4.                 
Terms and Conditions of Warrants. The terms and conditions of the Series B Exchange Warrants are set forth
in the form of Series B Exchange Warrant attached hereto as Exhibit A. The terms and conditions of the Series C Reset Warrants
are set forth in the form of Series C Reset Warrant attached hereto as Exhibit B. As used herein, the term “Terms
and Conditions” will refer to the terms and conditions in Exhibit A for the Series B Exchange Warrants and will refer
to the terms and conditions in Exhibit B for the Series C Reset Warrants, as the case may be.

 

5.                 
Transfer of Warrants. A Holder of a New Warrant may transfer or assign its New Warrant pursuant to the
Terms and Conditions upon delivery of notice (duly executed by such Holder or its agent or attorney) and funds sufficient to pay
any transfer taxes payable upon the making of such transfer to the Warrant Agent at the principal office of the Warrant Agent in
Denver, CO, or to the office of one of its agents as may be designated in writing by the Warrant Agent. If any such notice is delivered
to the Company, the Company will forward the notice to the Warrant Agent.

 

6.                 
Exercise of New Warrants.

 

6.1             
Subject to the Terms and Conditions, the Holder of a New Warrant may exercise the New Warrant at any time on or after the
Issuance Date of such New Warrant in whole or in part, at the option of the Holder, upon delivery of an executed Exercise Notice
and payment of the Exercise Price, which may be made, at the option of the Holder, by cash delivered to the Warrant Agent at the
principal office of the Warrant Agent in Denver, CO or to the office of one of its agents as may be designated in writing by the
Warrant Agent, or by wire transfer of funds to the account of the Warrant Agent set forth on Schedule A to the Terms and
Conditions attached as Exhibit A or Exhibit B, as the case may be.

 

6.2             
Upon receipt by the Warrant Agent of the Exercise Notice and the Exercise Price as described in Section 6.1 above,
the Warrant Agent shall use reasonable efforts to cause to be delivered the Warrant Shares to or upon the order of the Holder of
such New Warrant, registered in such name or names as may be designated by such Holder by the date that is three Business Days
after the latest of (A) the delivery to the Warrant Agent of the properly executed and completed Exercise Notice, and (B) payment
of the Exercise Price and other amounts as set forth in such Exercise Notice or in the Terms and Conditions (the “Warrant
Share Delivery Date”); provided, however, that the Warrant Agent shall not be liable to the Company or the Holder for
any damages arising out of the failure to deliver the Warrant Shares by the Warrant Share Delivery Date to the extent that such
failure relates to the acts or omissions of the Company, a Holder or a Holder’s prime broker. Notwithstanding the foregoing,
if the Company is then a participant in the Deposit Withdrawal at Custodian (“DWAC”) system of the Depository
Trust Company (“DTC”) and there is an effective registration statement permitting the issuance of the Warrant
Shares to and resale of the Warrant Shares by Holder, then the certificates for Warrant Shares shall be transmitted by the Warrant
Agent to the Holder by crediting the account of the Holder’s prime broker with the DTC through its DWAC system to the extent
the Holder arranges with its broker to initiate delivery through the DWAC system and the Warrant Agent has been duly instructed
to deliver the Warrant Shares through the DWAC system.

 

    	 	2	 

    

    

7.                 
Concerning the Warrant Agent and Other Matters.

 

7.1             
Concerning the Warrant Agent. The Warrant Agent:

 

(a)               
shall have no duties or obligations other than those set forth herein and no duties or obligations shall be inferred or
implied;

 

(b)              
may rely on and shall be held harmless by the Company in acting upon any certificate, statement, instrument, opinion, notice,
letter, facsimile transmission, telegram or other document, or any security delivered to it, and reasonably believed by it to be
genuine and to have been made or signed by the proper party or parties;

 

(c)               
may rely on and shall be held harmless by the Company in acting upon written or oral instructions or statements from the
Company with respect to any matter relating to its acting as Warrant Agent;

 

(d)              
may consult with counsel satisfactory to it (including counsel for the Company) and shall be held harmless by the Company
in relying on the advice or opinion of such counsel in respect of any action taken, suffered or omitted by it hereunder in good
faith and in accordance with such advice or opinion of such counsel;

 

(e)               
solely shall make the final determination as to whether or not a New Warrant received by Warrant Agent is duly, completely
and correctly executed, and Warrant Agent shall be held harmless by the Company in respect of any action taken, suffered or omitted
by Warrant Agent hereunder in good faith and in accordance with its determination;

 

(f)               
shall not be obligated to take any legal or other action hereunder which might, in its judgment, subject or expose it to
any expense or liability unless it shall have been furnished with an indemnity satisfactory to it; and

 

(g)              
shall not be liable or responsible for any failure of the Company to comply with any of the Company’s obligations
relating to the Registration Statement or this Warrant Agreement, including without limitation obligations under applicable regulation
or law.

    	 	3	 

    

    

 

7.2             
Payment of Taxes. The Company will from time to time promptly pay all taxes and charges that may be imposed upon
the Company or the Warrant Agent in respect of the issuance or delivery of Warrant Shares upon the exercise of New Warrants, but
the Company shall not be obligated to pay any transfer taxes in respect of the New Warrants or such Warrant Shares. The Warrant
Agent shall not register any transfer or issue or deliver any Warrant Certificate(s) or Warrant Shares unless or until the persons
requesting the registration or issuance shall have paid to the Warrant Agent for the account of the Company the amount of such
tax, if any, or shall have established to the reasonable satisfaction of the Company that such tax, if any, has been paid.

 

7.3             
Resignation, Consolidation, or Merger of Warrant Agent.

 

7.3.1       
Appointment of Successor Warrant Agent. The Warrant Agent, or any successor to it hereafter appointed, may resign
its duties and be discharged from all further duties and liabilities hereunder after giving 60 days’ prior written notice
to the Company. The Warrant Agent may be removed by the Company by written notice to the Warrant Agent and the Holders of the New
Warrants. If the Warrant Agent shall resign or be removed or shall otherwise become incapable of acting as Warrant Agent, the Company
shall appoint a successor to the Warrant Agent. If the Company shall fail to make such appointment within a period of 30 days after
it has been notified in writing of such resignation or incapacity by the Warrant Agent or by the Holder of the New Warrant (who
shall, with such notice, submit his New Warrant for inspection by the Company), then the Holder of any New Warrant may apply to
the courts of the State of Delaware for the appointment of a successor Warrant Agent at the Company’s cost. Any successor
Warrant Agent, whether appointed by the Company or by such court, shall be a corporation organized and existing under the laws
of the State of Delaware, in good standing and having its principal office in the State of Delaware, and authorized under such
laws to exercise corporate trust powers and subject to supervision or examination by federal or state authority. After appointment,
any successor Warrant Agent shall be vested with all the authority, powers, rights, immunities, duties, and obligations of its
predecessor Warrant Agent with like effect as if originally named as Warrant Agent hereunder, without any further act or deed;
but if for any reason it becomes necessary or appropriate, the predecessor Warrant Agent shall execute and deliver, at the expense
of the Company, an instrument transferring to such successor Warrant Agent all the records, property, authority, powers, and rights
of such predecessor Warrant Agent hereunder; and upon request of any successor Warrant Agent the Company shall make, execute, acknowledge,
and deliver any and all instruments in writing for more fully and effectually vesting in and confirming to such successor Warrant
Agent all such authority, powers, rights, immunities, duties, and obligations. Failure to file or mail any notice provided for
in this Section, however, or any defect therein, shall not affect the validity of the resignation or removal of the Warrant Agent
or the appointment of the successor Warrant Agent, as the case may be.

 

7.3.2       
Notice of Successor Warrant Agent. In the event a successor Warrant Agent shall be appointed, the Company shall give
notice thereof to the predecessor Warrant Agent and the transfer agent for the Common Stock not later than the effective date of
any such appointment.

 

    	 	4	 

    

    

7.3.3       
Merger or Consolidation of Warrant Agent. Any corporation into which the Warrant Agent may be merged or with which
it may be consolidated or any corporation resulting from any merger or consolidation to which the Warrant Agent shall be a party
shall be the successor Warrant Agent under this Warrant Agreement without any further act.

 

7.4             
Fees and Expenses of Warrant Agent.

 

7.4.1       
Remuneration. The Company agrees to pay the Warrant Agent reasonable remuneration in an amount separately agreed
to between Company and Warrant Agent for its services as Warrant Agent hereunder and will reimburse the Warrant Agent upon demand
for all expenditures that the Warrant Agent may reasonably incur in the execution of its duties hereunder.

 

7.4.2       
Further Assurances. The Company agrees to perform, execute, acknowledge, and deliver or cause to be performed, executed,
acknowledged, and delivered all such further and other acts, instruments, and assurances as may reasonably be required by the Warrant
Agent for the carrying out or performing of the provisions of this Warrant Agreement.

 

7.5             
Liability of Warrant Agent.

 

7.5.1       
Reliance on Company Statement. Whenever in the performance of its duties under this Warrant Agreement, the Warrant
Agent shall deem it necessary or desirable that any fact or matter be proved or established by the Company prior to taking or suffering
any action hereunder, such fact or matter (unless other evidence in respect thereof be herein specifically prescribed) may be deemed
to be conclusively proved and established by a statement signed by the President, Chief Executive Officer or Chief Financial Officer
of the Company and delivered to the Warrant Agent. The Warrant Agent may rely upon such statement for any action taken or suffered
in good faith by it pursuant to the provisions of this Warrant Agreement.

 

7.5.2       
Indemnity. The Warrant Agent shall be liable hereunder only for its own gross negligence, willful misconduct or bad
faith. The Company agrees to indemnify the Warrant Agent and save it harmless against any and all liabilities, including judgments,
claims, losses, damages, costs and reasonable counsel fees, for anything done or omitted by the Warrant Agent in the execution
of this Warrant Agreement except as a result of the Warrant Agent’s gross negligence, willful misconduct, or bad faith.

 

7.5.3       
Exclusions. The Warrant Agent shall have no responsibility with respect to the validity of this Warrant Agreement
or with respect to the validity or execution of any New Warrant (except its countersignature hereof and thereof); nor shall it
be responsible for any breach by the Company of any covenant or condition contained in this Warrant Agreement or in any New Warrant;
nor shall it by any act hereunder be deemed to make any representation or warranty as to the authorization or reservation of any
Warrant Shares to be issued pursuant to this Warrant Agreement or any New Warrant or as to whether any Warrant Shares will, when
issued, be validly issued and fully paid and nonassessable.

 

    	 	5	 

    

    

7.6             
Acceptance of Agency. The Warrant Agent hereby accepts the agency established by this Warrant Agreement and agrees
to perform the same upon the terms and conditions herein set forth and, among other things, shall account promptly to the Company
with respect to New Warrants exercised and concurrently account for, and pay to the Company, all moneys received by the Warrant
Agent for the purchase of Warrant Shares through the exercise of New Warrants.

 

8.                 
Miscellaneous Provisions.

 

8.1             
Successors. All the covenants and provisions of this Warrant Agreement by or for the benefit of the Company or the
Warrant Agent shall bind and inure to the benefit of their respective successors and assigns.

 

8.2             
Notices. Any notice, statement or demand authorized by this Warrant Agreement to be given or made by the Warrant
Agent or by a Holder to or on the Company shall be sufficiently given when so delivered if by hand or overnight delivery or if
sent by certified mail or private courier service within five Business Days after deposit of such notice, postage prepaid, addressed
(until another address is filed in writing by the Company with the Warrant Agent), as follows:

 

    Skyline Medical Inc.

    2915 Commers Drive, Suite 900

    Eagan, MN 55121

    Attn: Bob Myers, Chief Financial Officer

 

    with a copy to:

 

    Maslon LLP

    90 South 7th Street, Suite 3300

    Minneapolis, MN 55402

    Attn: Martin Rosenbaum

 

Any notice, statement or demand authorized by
this Warrant Agreement to be given or made by the a Holder or by the Company to or on the Warrant Agent shall be sufficiently given
when so delivered if by hand or overnight delivery or if sent by certified mail or private courier service within five Business
Days after deposit of such notice, postage prepaid, addressed (until another address is filed in writing by the Warrant Agent with
the Company), as follows:

 

    Corporate Stock Transfer

    3200 Cherry Creek Drive South – Suite 430

    Denver, CO 80209

    Attn: Shari Humpherys, Carylyn Bell and Rhonda Singleton

 

 

    	 	6	 

    

    

8.3             
Applicable Law. The validity, interpretation, and performance of this Warrant Agreement and of the New Warrants shall
be governed in all respects by the laws of the State of New York, without giving effect to conflicts of law principles that would
result in the application of the substantive laws of another jurisdiction.

 

8.4             
Persons Having Rights under this Warrant Agreement. Nothing in this Warrant Agreement expressed and nothing that
may be implied from any of the provisions hereof is intended, or shall be construed, to confer upon, or give to, any person or
corporation other than the parties hereto and the Holders of the New Warrants. All covenants, conditions, stipulations, promises,
and agreements contained in this Warrant Agreement shall be for the sole and exclusive benefit of the parties hereto and their
successors and assigns and of the Holders.

 

8.5             
Examination of this Warrant Agreement. A copy of this Warrant Agreement shall be available at all reasonable times
at the office of the Warrant Agent in Denver, Colorado for inspection by any Holder. The Warrant Agent may require any such Holder
to submit his Warrant for inspection by it.

 

8.6             
Counterparts. This Warrant Agreement may be executed in any number of original or facsimile counterparts and each
of such counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but
one and the same instrument.

 

8.7             
Effect of Headings. The Section headings herein are for convenience only and are not part of this Warrant Agreement
and shall not affect the interpretation thereof.

 

8.8             
Amendments. This Warrant Agreement may be amended by the parties hereto without the consent of any Holder for the
purpose of curing any ambiguity, or of curing, correcting or supplementing any defective provision contained herein or adding or
changing any other provisions with respect to matters or questions arising under this Warrant Agreement as the parties may deem
necessary or desirable and that the parties deem shall not adversely affect the interest of the Holders. All other modifications
or amendments, including any amendment to increase the Terms and Conditions shall require the written consent of the Required Holders.

 

8.9             
Severability. This Warrant Agreement shall be deemed severable, and the invalidity or unenforceability of any term
or provision hereof shall not affect the validity or enforceability of this Warrant Agreement or of any other term or provision
hereof. Furthermore, in lieu of any such invalid or unenforceable term or provision, the parties hereto intend that there shall
be added as a part of this Warrant Agreement a provision as similar in terms to such invalid or unenforceable provision as may
be possible and be valid and enforceable.

 

8.10         
Force Majeure. In the event either party is unable to perform its obligations under the terms of this Warrant Agreement
because of acts of God, strikes, failure of carrier or utilities, equipment or transmission failure or damage that is reasonably
beyond its control, or any other cause that is reasonably beyond its control, such party shall not be liable for damages to the
other for any damages resulting from such failure to perform or otherwise from such causes. Performance under this Warrant Agreement
shall resume when the affected party or parties are able to perform substantially that party’s duties.

 

    	 	7	 

    

    

 

 

 

[Signature Page Follows]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	8	 

    

    

 

IN WITNESS WHEREOF, this Warrant Agency Agreement
has been duly executed by the parties hereto as of the day and year first above written.

 

 

	 	SKYLINE MEDICAL INC.	 
	 	 	 	 
	 	By:	 	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	CORPORATE STOCK TRANSFER, INC.
	 	 	 	 
	 	By:	 	 
	 	Name:	 
	 	Title:	 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

[Signature Page to New Warrant Agency Agreement]

     

    

    
EXHIBIT A

 

Terms and Conditions

 

FORM OF SERIES B EXCHANGE WARRANT

 

SKYLINE MEDICAL INC.

 

WARRANT TO PURCHASE COMMON STOCK

 

Warrant No.:

Date of Issuance: [            ]
(“Issuance Date”)

 

Skyline Medical Inc., a Delaware corporation
(the “Company”), hereby certifies that, for good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, [            ], the registered holder
hereof or its permitted assigns (the “Holder”), is entitled, subject to the terms set forth below, to purchase
from the Company, at the Exercise Price (as defined below) then in effect, upon exercise of this Series B Exchange Warrant to Purchase
Common Stock (including any Warrants to Purchase Common Stock issued in exchange, transfer or replacement hereof, this “Warrant”),
at any time or times on or after the Issuance Date (as defined below) until 5:00 p.m., New York time, on the Expiration Date
(as defined below), [INSERT NUMBER OF WARRANT SHARES COVERED BY THIS WARRANT] (subject to adjustment as provided herein) fully
paid and non-assessable shares of Common Stock (as defined below) (the “Warrant Shares”). Except as otherwise
defined herein, capitalized terms in this Warrant shall have the meanings set forth in Section 17. This Warrant is one of
the Series B Exchange Warrants to Purchase Common Stock (the “Series B Exchange Warrants”) issued pursuant to
the New Warrant Agency Agreement, dated as of February [___], 2016, by and between
the Company and Corporate Stock Transfer, Inc. (the “Warrant Agent”) (the “Warrant Agency Agreement”)).

 

This Warrant shall be issuable in book
entry form (the “Book-Entry Warrant Certificate”) and shall initially be represented by one or more Book-Entry
Warrant Certificates deposited with the Warrant Agent and registered in the name of the Holder, or as otherwise directed by the
Warrant Agent. Ownership of beneficial interests in this Warrant shall be shown on, and the transfer of such ownership shall be
effected through, records maintained by the Warrant Agent (the “Warrant Register”). The Company may deem and
treat the registered Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution
to the Holder, and for all other purposes, absent actual written notice to the contrary.

 

		1.	EXERCISE OF WARRANT.

 

(a)               
Mechanics of Exercise. Subject to the terms and conditions hereof (including, without limitation, the limitations
set forth in Section 1(f)), this Warrant may be exercised by the Holder, in whole or in part, at any time on or after the
Issuance Date by delivery (whether via e-mail, facsimile or otherwise) of a written notice, in the form attached hereto as Exhibit A
(the “Exercise Notice”) to the Warrant Agent or such other office or agency of the Company as it may
designate by notice in writing to the registered Holder at the address of the Holder appearing on the books of the Company or
the Warrant Agent, of the Holder’s election to exercise this Warrant. Within one (1) Trading Day following an exercise
of this Warrant as

 

    Exhibit A-1 

     

    

aforesaid, the Holder shall deliver payment to the Warrant Agent of an amount equal to the Exercise Price in effect on the date
of such exercise multiplied by the number of Warrant Shares as to which this Warrant was so exercised (in respect of such specific
exercise, the “Aggregate Exercise Price”) in cash or via wire transfer of immediately available funds (to the
account set forth on Schedule A hereto). The Holder shall not be required to deliver the original of this Warrant
in order to effect an exercise hereunder. Execution and delivery of an Exercise Notice with respect to less than all of the Warrant
Shares shall have the same effect as cancellation of the original of this Warrant certificate and issuance of a new Warrant certificate
evidencing the right to purchase the remaining number of Warrant Shares. Execution and delivery of an Exercise Notice for all of
the then-remaining Warrant Shares shall have the same effect as cancellation of the original of this Warrant certificate after
delivery of the Warrant Shares in accordance with the terms hereof. The Company or the Warrant Agent shall maintain records showing
the number of Warrant Shares purchased and the date of such purchases. The Company or the Warrant Agent shall deliver any objection
to any Notice of Exercise form within 2 Business Days of receipt of the applicable Notice of Exercise. On or before the first
(1st) Trading Day following the date on which the Company has received an Exercise Notice, the Company shall transmit by e-mail
or facsimile an acknowledgment of confirmation of receipt of such Exercise Notice, in the form attached hereto as Exhibit B,
to the Warrant Agent. On or before the third (3rd) Trading Day following the later of (i) the date on which the Warrant
Agent has received such Exercise Notice or (ii) the date on which the Warrant Agent receives the Aggregate Exercise Price
(such date is referred to herein as the “Delivery Date”), the Company shall, (X) provided that (I) the
Transfer Agent is participating in The Depository Trust Company (“DTC”) Fast Automated Securities Transfer Program
and (II) either a registration statement for the issuance to the Holder of the applicable Warrant Shares to be issued pursuant
to such Exercise Notice is effective and the prospectus contained therein is usable or such Warrant Shares to be so issued are
otherwise freely tradable, cause the Warrant Agent to credit such aggregate number of Warrant Shares to which the Holder is entitled
pursuant to such exercise to the Holder’s or its designee’s balance account with DTC through its Deposit/Withdrawal
at Custodian system, or (Y) if either of the immediately preceding clauses (I) or (II) are not satisfied, issue and deliver
to the Holder or, at the Holder’s instruction pursuant to the Exercise Notice, the Holder’s agent or designee, in each
case, sent by reputable overnight courier to the address as specified in the applicable Exercise Notice, a certificate, registered
in the Company’s share register in the name of the Holder or its designee (as indicated in the applicable Exercise Notice),
for the number of Warrant Shares to which the Holder is entitled pursuant to such exercise. Upon the later of (i) the date
on which the Warrant Agent has received such Exercise Notice or (ii) the date on which the Warrant Agent receives the Aggregate
Exercise Price, the Holder shall be deemed for all corporate purposes to have become the holder of record of the Warrant Shares
with respect to which this Warrant has been exercised, irrespective of the date such Warrant Shares are credited to the Holder’s
DTC account or the date of delivery of the certificates evidencing such Warrant Shares (as the case may be); provided, however,
that if the date of such receipt is a date upon which the Common Stock transfer books of the Company are closed, such Holder shall
be deemed to have become the record holder of such shares on, the next succeeding day on which the Common Stock transfer books
of the Company are open. If this Warrant is submitted in connection with any exercise pursuant to this Section 1(a) and the
number of Warrant Shares represented by this Warrant submitted for exercise is greater than the number of Warrant Shares being
acquired upon an exercise, then, at the request of the Holder

 

    Exhibit A-2 

     

    

 and upon surrender hereof by the Holder at the principal office of
the Company, the Company shall as soon as practicable and in no event later than three (3) Business Days after any exercise
and at its own expense, issue and deliver to the Holder (or its designee) a new Warrant (in accordance with Section 8(d))
representing the right to purchase the number of Warrant Shares purchasable immediately prior to such exercise under this Warrant,
less the number of Warrant Shares with respect to which this Warrant is exercised. No fractional shares of Common Stock are to
be issued upon the exercise of this Warrant, but rather the number of shares of Common Stock to be issued shall be rounded up to
the nearest whole number. The Company shall pay any and all taxes and fees which may be payable with respect to the issuance and
delivery of Warrant Shares upon exercise of this Warrant.

 

(b)              
Exercise Price. For purposes of this Warrant, “Exercise Price” means $4.95, subject to adjustment
as provided herein.

 

(c)                
Company’s Failure to Timely Deliver Securities. If the Company shall fail, for any reason or for no
reason, to issue to the Holder on or before the applicable Delivery Date, a certificate for the number of shares of Common Stock
to which the Holder is entitled and register such shares of Common Stock on the Company’s share register or to credit the
Holder’s balance account with DTC for such number of shares of Common Stock to which the Holder is entitled upon the Holder’s
exercise of this Warrant (as the case may be), then, in addition to all other remedies available to the Holder, the Company shall
pay in cash to the Holder on each day after such third (3rd) Trading Day that the issuance of such shares of Common Stock
is not timely effected an amount equal to 1% of the product of (A) the aggregate number of shares of Common Stock not issued
to the Holder on a timely basis and to which the Holder is entitled and (B) the Closing Sale Price of the Common Stock on
the Trading Day immediately preceding the last possible date on which the Company could have issued such shares of Common Stock
to the Holder without violating Section 1(a). In addition to the foregoing, if the Company shall fail to issue and deliver
a certificate to the Holder and register such shares of Common Stock on the Company’s share register or credit the Holder’s
balance account with DTC for the number of shares of Common Stock to which the Holder is entitled upon the Holder’s exercise
or exchange hereunder (as the case may be) on or prior to the applicable Delivery Date, and if on or after such Delivery Date the
Holder (or any other Person in respect, or on behalf, of the Holder) purchases (in an open market transaction or otherwise) shares
of Common Stock to deliver in satisfaction of a sale by the Holder of all or any portion of the number of Warrant Shares, or a
sale of a number of shares of Common Stock equal to all or any portion of the number of Warrant Shares, issuable upon such exercise
or exchange that the Holder so anticipated receiving from the Company, then, in addition to all other remedies available to the
Holder, the Company shall, within three (3) Business Days after the Holder’s request and in the Holder’s discretion,
either (i) pay cash to the Holder in an amount equal to the Holder’s total purchase price (including brokerage commissions
and other out-of-pocket expenses, if any) for the shares of Common Stock so purchased (including, without limitation, by any other
Person in respect, or on behalf, of the Holder) (the “Buy-In Price”), at which point the Company’s obligation
to so issue and deliver such certificate or credit the Holder’s balance account 

 

    Exhibit A-3 

     

    

with DTC for the number of shares of Common
Stock to which the Holder is entitled upon the Holder’s exercise or exchange hereunder (as the case may be) (and to issue
such shares of Common Stock) shall terminate, or (ii) promptly honor its obligation to so issue and deliver to the Holder
a certificate or certificates representing such shares of Common Stock or credit the Holder’s balance account with DTC for
the number of shares of Common Stock to which the Holder is entitled upon the Holder’s exercise or exchange hereunder (as
the case may be) and pay cash to the Holder in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such
number of shares of Common Stock multiplied by (B) the lowest Closing Sale Price of the Common Stock on any Trading Day during
the period commencing on the date of the applicable Exercise Notice, as the case may be, and ending on the date of such issuance
and payment under this clause (ii).

 

(d)              
Disputes. In the case of a dispute as to the determination of the Exercise Price or the arithmetic calculation of
the number of Warrant Shares to be issued pursuant to the terms hereof, the Company shall promptly issue to the Holder the number
of Warrant Shares that are not disputed, provided that following such issuance to Holder such dispute shall be resolved in accordance
with Section 14.

 

(e)               
Limitations on Exercises and Exchanges. Notwithstanding anything to the contrary contained in this Warrant, this
Warrant shall not be exercisable or exchangeable by the Holder hereof to the extent (but only to the extent) that the Holder or
any of its Affiliates would beneficially own in excess of 4.99% (the “Maximum Percentage”) of the Common Stock.
To the extent the above limitation applies, the determination of whether this Warrant shall be exercisable or exchangeable (vis-à-vis
other convertible, exercisable or exchangeable securities owned by the Holder or any of its Affiliates) and of which such securities
shall be exercisable or exchangeable (as among all such securities owned by the Holder) shall, subject to such Maximum Percentage
limitation, be determined on the basis of the first submission to the Company for conversion, exercise or exchange (as the case
may be). No prior inability to exercise or exchange 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 or exchangeability. For the
purposes of this paragraph, beneficial ownership and all determinations and calculations (including, without limitation, with respect
to calculations of percentage ownership) shall be determined in accordance with Section 13(d) of the Securities Exchange Act
of 1934, as amended (the “1934 Act”), and the rules and regulations promulgated thereunder. The provisions of
this paragraph shall be implemented in a manner otherwise than in strict conformity with the terms of this paragraph to correct
this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Maximum Percentage beneficial ownership
limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such Maximum Percentage
limitation. The limitations contained in this paragraph shall apply to a successor Holder of this Warrant. The holders of Common
Stock shall be third party beneficiaries of this paragraph and the Company may not amend or waive this paragraph without the consent
of holders of a majority of its Common Stock. For any reason at any time, upon the written or oral request of the Holder, the Company
shall within one (1) Business Day confirm orally and in writing to the Holder the number of shares of Common Stock then outstanding,
including by virtue of any prior conversion or exercise or exchange of convertible or exercisable or exchangeable securities into
Common Stock, including, without limitation, pursuant to this Warrant or securities issued pursuant to the Certificate of Designation
for the Series B Convertible Preferred Stock.

 

(f)               
Insufficient Authorized Shares. The Company shall at all times keep reserved for issuance under this Warrant a number
of shares of Common Stock as shall be necessary to satisfy

 

    Exhibit A-4 

     

    

 the Company’s obligation to issue shares of Common Stock hereunder
(without regard to any limitation otherwise contained herein with respect to the number of shares of Common Stock that may be acquirable
upon exercise or exchange of this Warrant). If, notwithstanding the foregoing, and not in limitation thereof, at any time while
any of the Series B Exchange Warrants remain outstanding the Company does not have a sufficient number of authorized and unreserved
shares of Common Stock to satisfy its obligation to reserve for issuance upon exercise or exchange of the Series B Exchange Warrants
at least a number of shares of Common Stock equal to the number of shares of Common Stock as shall from time to time be necessary
to effect the exercise or exchange of all of the Series B Exchange Warrants then outstanding (the “Required Reserve Amount”)
(an “Authorized Share Failure”), then the Company shall immediately take all action necessary to increase the
Company’s authorized shares of Common Stock to an amount sufficient to allow the Company to reserve the Required Reserve
Amount for all the Series B Exchange Warrants then outstanding. Without limiting the generality of the foregoing sentence, as soon
as practicable after the date of the occurrence of an Authorized Share Failure, but in no event later than ninety (90) days
after the occurrence of such Authorized Share Failure, the Company shall hold a meeting of its stockolders for the approval of
an increase in the number of authorized shares of Common Stock. In connection with such meeting, the Company shall provide each
stockholder with a proxy statement and shall use its commercially reasonable efforts to solicit its stockholders’ approval
of such increase in authorized shares of Common Stock and to cause its board of directors to recommend to the stockholders that
they approve such proposal.

 

		2.	ADJUSTMENT OF EXERCISE PRICE AND NUMBER OF WARRANT SHARES.

 

The Exercise Price
and number of Warrant Shares issuable upon exercise of this Warrant are subject to adjustment from time to time as set forth in
this Section 2.

 

(a)               
Stock Dividends and Splits. Without limiting any provision of Section 4, if the Company, at any time on or after
the Issuance Date, (i) pays a stock dividend on one or more classes of its then outstanding shares of Common Stock or otherwise
makes a distribution on any class of capital stock that is payable in shares of Common Stock, (ii) subdivides (by any stock
split, stock dividend, recapitalization or otherwise) one or more classes of its then outstanding shares of Common Stock into a
larger number of shares or (iii) combines (by combination, reverse stock split or otherwise) one or more classes of its then
outstanding shares of Common Stock into a smaller number of shares, then in each such case the Exercise Price shall be multiplied
by a fraction of which the numerator shall be the number of shares of Common Stock outstanding immediately before such event and
of which the denominator shall be the number of shares of Common Stock outstanding immediately after such event. Any adjustment
made pursuant to clause (i) of this paragraph shall become effective immediately after the record date for the determination
of stockholders entitled to receive such dividend or distribution, and any adjustment pursuant to clause (ii) or (iii) of
this paragraph shall become effective immediately after the effective date of such subdivision or combination. If any event requiring
an adjustment under this paragraph occurs during the period that an Exercise Price is calculated hereunder, then the calculation
of such Exercise Price shall be adjusted appropriately to reflect such event.

 

(b)              
Number of Warrant Shares. Simultaneously with any adjustment to the Exercise Price pursuant to paragraph (a)
of this Section 2, the number of Warrant Shares that may be

 

    Exhibit A-5 

     

    

 purchased upon exercise of this Warrant shall be increased or
decreased proportionately, so that after such adjustment the aggregate Exercise Price payable hereunder for the adjusted number
of Warrant Shares shall be the same as the aggregate Exercise Price in effect immediately prior to such adjustment (without regard
to any limitations on exercise contained herein).

 

(c)               
Calculations. All calculations under this Section 2 shall be made by rounding to the nearest 1/10000th of cent
and the nearest 1/100th of a share, as applicable. The number of shares of Common Stock outstanding at any given time shall not
include shares owned or held by or for the account of the Company, and the disposition of any such shares shall be considered an
issue or sale of Common Stock.

 

(d)              
Other Events. In the event that the Company shall take any similar action to which the provisions hereof are not
strictly applicable, or, if applicable, would not operate to protect the Holder from dilution or if any event occurs of the type
contemplated by the provisions of this Section 2 but not expressly provided for by such provisions, then the Company’s
board of directors shall in good faith determine and implement an appropriate adjustment in the Exercise Price and the number of
Warrant Shares (if applicable) so as to protect the rights of the Holder, provided that no such adjustment pursuant to this Section 2(d)
will increase the Exercise Price or decrease the number of Warrant Shares as otherwise determined pursuant to this Section 2,
provided further that if the Required Holders (as defined below) do not accept such adjustments as appropriately protecting its
interests hereunder against such dilution, then the Company’s board of directors and the Required Holders shall agree, in
good faith, upon an independent investment bank of nationally recognized standing to make such appropriate adjustments, whose determination
shall be final and binding and whose fees and expenses shall be borne by the Company.

 

		3.	RIGHTS UPON DISTRIBUTION OF ASSETS.

 

In addition to, but
not duplicative of, any adjustments pursuant to Section 2 above, if the Company, at any time prior to the three year anniversary
of the Issuance Date, shall declare or make any dividend or other distribution of its assets (or rights to acquire its assets)
to all or substantially all of the holders of shares of Common Stock, by way of return of capital or otherwise (including, without
limitation, any distribution of cash, stock or other securities, indebtedness, property or options by way of a dividend, spin off,
reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a “Distribution”),
at any time after the issuance of this Warrant, then, in each such case, the Holder shall be entitled to participate in such Distribution
to the same extent that the Holder would have participated therein if the Holder had held the number of shares of Common Stock
acquirable upon complete exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation,
the Maximum Percentage) by paying the Exercise Price for such shares of Common Stock in cash in full as of the date immediately
preceding the date on which a record is taken for such Distribution, or, if no such record is taken, the date as of which the record
holders of shares of Common Stock are to be determined for the participation in such Distribution (provided, however, to the extent
that the Holder’s right to participate in any such Distributions would result in the Holder exceeding the Maximum Percentage,
then the Holder shall not be entitled to participate in such Distribution to such extent (or the beneficial ownership of any such
shares of Common Stock as a result of such Distribution to such extent) and such Distribution to such

 

    Exhibit A-6 

     

    

 extent shall be held in abeyance
for the benefit of the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Maximum
Percentage), provided further, such Distribution shall be held in abeyance for the benefit of the Holder until such time as the
Holder exercises this Warrant (whether in whole or in part), and subject to the foregoing proviso, upon each exercise of this Warrant
the Company shall make such Distribution to the Holder with respect to each Warrant Share for which this Warrant is so exercised
until such time as this Warrant has been exercised in full).

 

		4.	PURCHASE RIGHTS; FUNDAMENTAL TRANSACTIONS.

 

(a)               
Purchase Rights. In addition to, but not duplicative of, any adjustments pursuant to Section 2 above, if the
Company, at any time prior to the three year anniversary of the Issuance Date, grants, issues or sells any Options, Convertible
Securities or rights to purchase stock, warrants, securities or other property pro rata to all or substantially all of the record
holders of any class of shares of Common Stock (the “Purchase Rights”), then the Holder will be entitled to
acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired
if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to
any limitations on exercise hereof, including without limitation, the Maximum Percentage) by paying the Exercise Price for such
shares of Common Stock in cash in full as of the date immediately preceding the date on which a record is taken for the grant,
issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of shares of
Common Stock are to be determined for the grant, issue or sale of such Purchase Rights (provided, however, to the extent that the
Holder’s right to participate in any such Purchase Right would result in the Holder exceeding the Maximum Percentage, then
the Holder shall not be entitled to participate in such Purchase Right to such extent (or beneficial ownership of such shares of
Common Stock as a result of such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance
for the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Maximum Percentage),
and provided further, that such Purchase Rights shall be held in abeyance for the benefit of the Holder until such time as the
Holder exercises this Warrant (whether in whole or in part), and subject to the foregoing proviso, upon each exercise of this Warrant
the Company shall deliver such Purchase Rights to the Holder with respect to each Warrant Share for which this Warrant is so exercised
until such time as this Warrant has been exercised in full).

 

(b)              
Fundamental Transactions. The Company shall not enter into or be party to a Fundamental Transaction unless the Successor
Entity assumes in writing all of the obligations of the Company under this Warrant in accordance with the provisions of this Section 4(b)
pursuant to written agreements, including agreements confirming the obligations of the Successor Entity as set forth in this paragraph (b)
and (c) and elsewhere in this Warrant and an obligation to deliver to the Holder in exchange for this Warrant a security of
the Successor Entity evidenced by a written instrument substantially similar in form and substance to this Warrant, including,
without limitation, which is 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)
prior to such Fundamental Transaction, and with an exercise price which applies the exercise price hereunder to such shares of
capital stock (but taking into account the relative value of the shares of

 

    Exhibit A-7 

     

    

 Common Stock pursuant to such Fundamental Transaction
and the value of such shares of capital stock, such adjustments to the number of shares of capital stock and such exercise price
being for the purpose of protecting the economic value of this Warrant immediately prior to the consummation of such Fundamental
Transaction). Notwithstanding the foregoing, at the election of the Holder upon exercise of this Warrant following a Fundamental
Transaction, the Successor Entity shall deliver to the Holder, in lieu of the shares of Common Stock (or other securities, cash,
assets or other property (except such items still issuable under Sections 3 and 4(a) above, which shall continue to be receivable
thereafter)) issuable upon the exercise of this Warrant prior to the applicable Fundamental Transaction, such shares of common
stock (or its equivalent) of the Successor Entity (including its Parent Entity), or other securities, cash, assets or other property,
which the Holder would have been entitled to receive upon the happening of the applicable Fundamental Transaction had this Warrant
been exercised immediately prior to the applicable Fundamental Transaction (without regard to any limitations on the exercise of
this Warrant).

 

(c)               
Application. The provisions of this Section 4 shall apply similarly and equally to successive Fundamental Transactions
and shall be applied as if this Warrant (and any such subsequent warrants issued hereunder) were fully exercisable and without
regard to any limitations on the exercise of this Warrant (provided that the Holder shall continue to be entitled to the benefit
of the Maximum Percentage, applied however with respect to shares of capital stock registered under the 1934 Act and thereafter
receivable upon exercise of this Warrant (or any such other warrant)).

 

		5.	REDEMPTION OF WARRANTS.

 

(a) Redemption Price.
The Series B Exchange Warrants may be redeemed at the option of the Company, at any time commencing ninety (90) days after the
Issuance Date following a period of twenty (20) consecutive Trading Days where the per share Closing Trading Price of the Common
Stock exceeds 200% of the Exercise Price, on notice as set forth in Section 5(b), at a redemption price equal to $0.01 per Series
B Exchange Warrant; provided, that the Company’s right to redeem the Series B Exchange Warrants is subject to the
condition that a registration statement is effective with respect to the issuance or sale of the Warrant Shares.

 

(b) Notice of Redemption.
In the case of any redemption of Series B Exchange Warrants, the Company or, at its request, the Warrant Agent in the name of and
at the expense of the Company shall give notice of such redemption to the holders of the Series B Exchange Warrants as hereinafter
provided in this Section 5(b). Notice of redemption to the holders of Series B Exchange Warrants shall be given as provided in
Section 8 at least ten (10) Business Days prior to the date fixed for redemption. Failure to duly to give such notice, or any defect
in such notice, to the holder of any Series B Exchange Warrant shall not affect the validity of the proceedings for the redemption
of Warrants represented by any other Series B Exchange Warrant. Each such notice shall specify the date fixed for redemption, the
place of redemption and the redemption price of $0.01 at which each Series B Exchange Warrant is to be redeemed, and shall state
that payment of the redemption price of the Series B Exchange Warrants will be made on surrender of the Series B Exchange Warrants
at such place of redemption, and that if not exercised by the close of business on the date fixed for redemption, the exercise
rights of the Series B Exchange Warrants identified for redemption shall expire unless extended by the 

 

    Exhibit A-8 

     

    

Company. Such notice shall
also state the current Exercise Price and the date on which the right to exercise the Series B Exchange Warrants will expire unless
extended by the Company.

 

(c) Payment for
Warrants on Redemption; Deposit of Redemption Price. If notice of redemption shall have been given as provided in Section 5(b),
the redemption price of $0.01 per Warrant shall, unless the Warrant is theretofore exercised pursuant to the terms hereof, become
due and payable on the date and at the place stated in such notice. On and after such date of redemption, provided that cash sufficient
for the redemption thereof shall then be deposited by the Company with the Warrant Agent for that purpose, the exercise rights
of the Series B Exchange Warrants shall expire. On presentation and surrender of Warrant Certificates at such place of payment
in such notice specified, the Series B Exchange Warrants shall be paid and redeemed at the redemption price of $0.01 per Series
B Exchange Warrant. Prior to the date fixed for redemption, the Company shall deposit with the Warrant Agent an amount of money
sufficient to pay the redemption price of all the Series B Exchange Warrants. Any monies which shall have been deposited with the
Warrant Agent for redemption of Series B Exchange Warrants and which are not required for that purpose by reason of exercise of
Series B Exchange Warrants shall be repaid to the Company upon delivery to the Warrant Agent of evidence satisfactory to it of
such exercise.

 

		6.	NONCIRCUMVENTION.

 

The Company hereby
covenants and agrees that the Company will not, by amendment of its certificate of incorporation, bylaws or through any reorganization,
transfer of assets, consolidation, merger, scheme of arrangement, dissolution, issue or sale of securities, or any other voluntary
action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, and will at all times in good
faith carry out all the provisions of this Warrant and take all action as may be required to protect the rights of the Holder.
Without limiting the generality of the foregoing, the Company (i) shall not increase the par value of any shares of Common
Stock receivable upon the exercise of this Warrant above the Exercise Price then in effect, (ii) shall take all such actions
as may be necessary or appropriate in order that the Company may validly and legally issue fully paid and non-assessable shares
of Common Stock upon the exercise of this Warrant, and (iii) shall, so long as any of the Series B Exchange Warrants are outstanding,
take all action necessary to reserve and keep available out of its authorized and unissued shares of Common Stock, solely for the
purpose of effecting the exercise of the Series B Exchange Warrants, the maximum number of shares of Common Stock as shall from
time to time be necessary to effect the exercise of the Series B Exchange Warrants then outstanding (without regard to any limitations
on exercise).

 

		7.	WARRANT HOLDER NOT DEEMED A STOCKHOLDER.

 

Except as otherwise
specifically provided herein, the Holder, solely in its capacity as a holder of this Warrant, shall not be entitled to vote or
receive dividends or be deemed the holder of share capital of the Company for any purpose, nor shall anything contained in this
Warrant be construed to confer upon the Holder, solely in its capacity as the Holder of this Warrant, any of the rights of a stockholder
of the Company or any right to vote, give or withhold consent to any corporate action (whether any reorganization, issue of stock,
reclassification of stock, consolidation, merger, conveyance or otherwise), receive notice of meetings, receive dividends

 

    Exhibit A-9 

     

    

 or subscription
rights, or otherwise, prior to the issuance to the Holder of the Warrant Shares which it is then entitled to receive upon the due
exercise of this Warrant. In addition, nothing contained in this Warrant shall be construed as imposing any liabilities on the
Holder to purchase any securities (upon exercise of this Warrant or otherwise) or as a stockholder of the Company, whether such
liabilities are asserted by the Company or by creditors of the Company. Notwithstanding this Section 7, the Company shall
provide the Holder with copies of the same notices and other information given to the stockholders of the Company generally, contemporaneously
with the giving thereof to the stockholders; provided however, that the Company shall not be obligated to provide such information
if it is filed with the SEC through EDGAR and available to the public through the EDGAR system.

 

		8.	REISSUANCE OF WARRANTS.

 

(a)               
Transfer of Warrant. If this Warrant is to be transferred, the Holder shall surrender this Warrant (or the Book-Entry
Warrant Certificate) to the Company or the Warrant Agent (or other designated agent), whereupon the Company or the Warrant Agent
(or other designated agent) will forthwith issue and deliver upon the order of the Holder a new Warrant (or Book-Entry Warrant
Certificate) (in accordance with Section 8(d)), registered as the Holder may request, representing the right to purchase the
number of Warrant Shares being transferred by the Holder and, if less than the total number of Warrant Shares then underlying this
Warrant is being transferred, a new Warrant (or Book-Entry Warrant Certificate) (in accordance with Section 8(d)) to the Holder
representing the right to purchase the number of Warrant Shares not being transferred.

 

(b)              
Lost, Stolen or Mutilated Warrant. Upon receipt by the Company of evidence reasonably satisfactory to the Company
of the loss, theft, destruction or mutilation of this Warrant (or the Book-Entry Warrant Certificate) (as to which a written certification
and the indemnification contemplated below shall suffice as such evidence), and, in the case of loss, theft or destruction, of
any indemnification undertaking by the Holder to the Company in customary and reasonable form (including posting a bond) and, in
the case of mutilation, upon surrender and cancellation of this Warrant (or the Book-Entry Warrant Certificate ), the Company shall
execute and deliver to the Holder a new Warrant (or Book-Entry Warrant Certificate) (in accordance with Section 8(d)) representing
the right to purchase the Warrant Shares then underlying this Warrant.

 

(c)               
Exchangeable for Multiple Warrants. This Warrant is exchangeable, upon the surrender hereof (or of the Book-Entry
Warrant Certificate ) by the Holder at the principal office of the Company, for a new Warrant or Warrants (or Book-Entry Warrant
Certificates) (in accordance with Section 8(d)) representing in the aggregate the right to purchase the number of Warrant
Shares then underlying this Warrant, and each such new Warrant (or Book-Entry Warrant Certificate) will represent the right to
purchase such portion of such Warrant Shares as is designated by the Holder at the time of such surrender; provided, however, no
warrants for fractional shares of Common Stock shall be given.

 

(d)              
Issuance of New Warrants. Whenever the Company is required to issue a new Warrant (or Book-Entry Warrant Certificate)
pursuant to the terms of this Warrant, such new Warrant (or Book-Entry Warrant Certificate) (i) shall be of like tenor with
this Warrant (or 

 

    Exhibit A-10 

     

    

Book-Entry Warrant Certificate), (ii) shall represent, as indicated on the face of such new Warrant (or Book-Entry
Warrant Certificate), the right to purchase the Warrant Shares then underlying this Warrant (or in the case of a new Warrant (or
Book-Entry Warrant Certificate) being issued pursuant to Section 8(a) or Section 8(c), the Warrant Shares designated
by the Holder which, when added to the number of shares of Common Stock underlying the other new Warrants (or Book-Entry Warrant
Certificates) issued in connection with such issuance, does not exceed the number of Warrant Shares then underlying this Warrant),
(iii) shall have an issuance date, as indicated on the face of such new Warrant (or Book-Entry Warrant Certificate) which
is the same as the Issuance Date, and (iv) shall have the same rights and conditions as this Warrant.

 

		9.	NOTICES.

 

Whenever notice is
required to be given under this Warrant, unless otherwise provided herein, such notice shall be in writing and shall be deemed
given (w) the date of transmission, if such notice or communication is delivered via facsimile or email at the number or email
address set forth below prior to 5:00 p.m. (New York time) on a Business Day, (x) on the date delivered, if delivered
personally, (y) on the first Business Day following the deposit thereof with Federal Express or another recognized overnight
courier, if sent by Federal Express or another recognized overnight courier, and (z) on the fourth Business Day following
the mailing thereof with postage prepaid, if mailed by registered or certified mail (return receipt requested), in each case to
the parties at the following addresses (or at such other address for a party as shall be specified by like notice).

 

(a)               
If to the Company, to:

 

Skyline Medical Inc.

2915 Commers Drive, Suite 900

Eagan, MN 55121

Attention: Bob Myers, Chief Financial Officer

 

With a copy to:

Maslon LLP

90 South 7th Street, Suite 3300

Minneapolis, MN 55402

Attn: Martin Rosenbaum

 

(b)              
If to the Warrant Agent, to:

 

Corporate Stock Transfer, Inc.

3200 Cherry Creek Drive South, Suite 430

Denver, Colorado 80209

Attention: Operations Department

 

(c)               
If to the Holder, to the address of such holder as shown on the Warrant Register. Any notice required to be delivered
by the Company to the Holder may be given by the Warrant Agent on behalf of the Company.

 

    Exhibit A-11 

     

    

The Company shall provide
the Holder with prompt written notice of all actions taken pursuant to this Warrant, including in reasonable detail a description
of such action and the reason therefor. Without limiting the generality of the foregoing, the Company will give written notice
to the Holder (i) as soon as practicable upon each adjustment of the Exercise Price and the number of Warrant Shares, setting
forth in reasonable detail, and certifying, the calculation of such adjustment(s) and (ii) at least fifteen (15) days
prior to the date on which the Company closes its books or takes a record (A) with respect to any dividend or distribution
upon the shares of Common Stock, (B) with respect to any grants, issuances or sales of any Options, Convertible Securities
or rights to purchase stock, warrants, securities, indebtedness, or other property pro rata to holders of shares of Common Stock
or (C) for determining rights to vote with respect to any Fundamental Transaction, dissolution or liquidation, provided in
each case that such information (to the extent it constitutes, or contains, material, non-public information regarding the Company
or any of its subsidiaries shall be made known to the public prior to or in conjunction with such notice being provided to the
Holder, (iii) at least ten (10) Trading Days prior to the consummation of any Fundamental Transaction and (iv) for a
redemption of the Series B Exchange Warrants pursuant to Section 5, as set forth in Section 5(b). To the extent that any notice
provided hereunder (whether under this Section 9 or otherwise) constitutes, or contains, material, non-public information
regarding the Company or any of its subsidiaries, the Company shall simultaneously file such notice with the SEC pursuant to a
Current Report on Form 8-K.

 

		10.	AMENDMENT AND WAIVER.

 

Except as otherwise
expressly set forth herein, the provisions of this Warrant may be amended only with the written consent of the Company and the
Required Holders. Any amendment effected in accordance with this Section 10 shall be binding upon the Holder and the Company,
provided that no such amendment shall be effective to the extent that it (1) applies to less than all Series B Exchange Warrants
then outstanding, (2) imposes any obligation or liability on the Holder without the Holder’s prior written consent (which
may be granted or withheld in the Holder’s sole discretion) or (3) applies retroactively. Except as otherwise expressly
set forth herein, no waiver shall be effective unless it is in writing and signed by an authorized representative of the waiving
party, provided that the Required Holders (in a writing signed by all of the Required Holders) may waive any provision of this
Warrant, and any waiver of any provision of this Warrant made in conformity with the provisions of this Section 10 shall be
binding on the Holder, provided that no such waiver shall be effective to the extent that it (1) applies to less than all
Series B Exchange Warrants then outstanding (unless a party gives a waiver as to itself only) or (2) imposes any obligation
or liability on the Holder without the Holder’s prior written consent (which may be granted or withheld in the Holder’s
sole discretion). Notwithstanding the foregoing, nothing contained in this Section 10 shall permit any amendment or waiver
of any provision of Section 1(e).

 

		11.	SEVERABILITY.

 

If any provision of
this Warrant is prohibited by law or otherwise determined to be invalid or unenforceable by a court of competent jurisdiction,
the provision that would otherwise be prohibited, invalid or unenforceable shall be deemed amended to apply to the broadest extent
that it would be valid and enforceable, and the invalidity or unenforceability of such provision

 

    Exhibit A-12 

     

    

 shall not affect the validity
of the remaining provisions of this Warrant so long as this Warrant as so modified continues to express, without material change,
the original intentions of the parties as to the subject matter hereof and the prohibited nature, invalidity or unenforceability
of the provision(s) in question does not substantially impair the respective expectations or reciprocal obligations of the parties
or the practical realization of the benefits that would otherwise be conferred upon the parties. The parties will endeavor in good
faith negotiations to replace the prohibited, invalid or unenforceable provision(s) with a valid provision(s), the effect of which
comes as close as possible to that of the prohibited, invalid or unenforceable provision(s).

 

		12.	GOVERNING LAW.

 

This Warrant shall
be governed by and construed and enforced in accordance with, and all questions concerning the construction, validity, interpretation
and performance of this Warrant 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. The Company hereby irrevocably submits to the
exclusive jurisdiction of the state and federal courts sitting in The City of New York, Borough of Manhattan, for the adjudication
of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby
irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to
the jurisdiction of any such court, that such suit, action or proceeding is brought in an inconvenient forum or that the venue
of such suit, action or proceeding is improper. Nothing contained herein shall be deemed to limit in any way any right to serve
process in any manner permitted by law. Nothing contained herein shall (i) be deemed or operate to preclude the Holder from
bringing suit or taking other legal action against the Company in any other jurisdiction to collect on the Company’s obligations
to the Holder or to enforce a judgment or other court ruling in favor of the Holder or (ii) limit, or be deemed to limit,
any provision of Section 14. THE COMPANY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST,
A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS WARRANT OR ANY TRANSACTION
CONTEMPLATED HEREBY.

 

		13.	CONSTRUCTION; HEADINGS.

 

This Warrant shall
be deemed to be jointly drafted by the Company and the Holder and shall not be construed against any Person as the drafter hereof.
The headings of this Warrant are for convenience of reference and shall not form part of, or affect the interpretation of, this
Warrant.

 

		14.	DISPUTE RESOLUTION.

 

(a)               
Disputes Over the Exercise Price, Closing Sale Price, Closing Bid Price, Bid Price, Closing Trading Price or Fair Market
Value.

 

(i)                
In the case of a dispute relating to the Exercise Price, the Closing Sale Price, the Closing Bid Price, the Bid Price, the
Closing Trading Price or fair market value (as the

 

    Exhibit A-13 

     

    

 case may be) (including, without limitation, a dispute relating to the determination
of any of the foregoing), the Company or the Required Holders (as the case may be) shall submit the dispute via e-mail or facsimile
(I) within twenty (20) Business Days after delivery of the applicable notice giving rise to such dispute to the Company
or the Required Holders (as the case may be) or (II) if no notice gave rise to such dispute, at any time after the Required
Holders learned of the circumstances giving rise to such dispute. If the Required Holders and the Company are unable to resolve
such dispute relating to the Exercise Price, the Closing Sale Price, the Closing Bid Price, the Bid Price or fair market value
(as the case may be) by 5:00 p.m. (New York time) on the third (3rd) Business Day following such delivery by the Company
or the Required Holders (as the case may be) of such dispute to the Company or the Required Holders (as the case may be), then
the Required Holders shall select an independent, reputable investment bank to resolve such dispute.

 

(ii)              
The Required Holders and the Company shall each deliver to such investment bank (x) a copy of the initial dispute submission
so delivered in accordance with the first sentence of this Section 14(a) and (y) written documentation supporting its
position with respect to such dispute, in each case, no later than 5:00 p.m. (New York time) by the fifth (5th) Business
Day immediately following the date on which the Required Holders selected such investment bank (the “Dispute Submission
Deadline”) (the documents referred to in the immediately preceding clauses (x) and (y) are collectively referred
to herein as the “Required Dispute Documentation”) (it being understood and agreed that if either the Required
Holders or the Company fails to so deliver all of the Required Dispute Documentation by the Dispute Submission Deadline, then the
party who fails to so submit all of the Required Dispute Documentation shall no longer be entitled to (and hereby waives its right
to) deliver or submit any written documentation or other support to such investment bank with respect to such dispute and such
investment bank shall resolve such dispute based solely on the Required Dispute Documentation that was delivered to such investment
bank prior to the Dispute Submission Deadline). Unless otherwise agreed to in writing by both the Company and the Required Holders
or otherwise requested by such investment bank, neither the Company nor the Required Holders shall be entitled to deliver or submit
any written documentation or other support to such investment bank in connection with such dispute (other than the Required Dispute
Documentation).

 

(iii)            
The Company and the Required Holders shall cause such investment bank to determine the resolution of such dispute and notify
the Company and the Required Holders of such resolution no later than ten (10) Business Days immediately following the Dispute
Submission Deadline. The fees and expenses of such investment bank shall be borne by the Company (provided that such fees and expenses
shall be borne equally by the Company and the Required Holders only if such investment bank’s determination of the disputed
Exercise Price, Closing Sale Price, Closing Bid Price, Bid Price, Closing Trading Price or fair market value (as the case may be)
was equal to or greater than 98% of the Company’s determination thereof that gave rise to the applicable dispute), and such
investment bank’s resolution of such dispute shall be final and binding upon all parties absent manifest error.

 

    Exhibit A-14 

     

    

(b)              
Disputes Over Arithmetic Calculation of Warrant Shares.

 

(i)                
In the case of a dispute as to the arithmetic calculation of the number of Warrant Shares, the Company or the Required Holders
(as the case may be) shall submit the disputed arithmetic calculation via facsimile (i) within twenty (20) Business Days
after delivery of the applicable notice giving rise to such dispute to the Company or the Required Holders (as the case may be)
or (ii) if no notice gave rise to such dispute, at any time after the Required Holders learned of the circumstances giving
rise to such dispute. If the Required Holders and the Company are unable to resolve such disputed arithmetic calculation of the
number of Warrant Shares by 5:00 p.m. (New York time) on the third (3rd) Business Day following such delivery by the
Company or the Required Holders (as the case may be) of such disputed arithmetic calculation of the number of Warrant Shares to
the Company or the Required Holders (as the case may be), then the Required Holders shall select an independent, reputable accountant
or accounting firm to perform such disputed arithmetic calculation of the number of Warrant Shares.

 

(ii)              
The Required Holders and the Company shall each deliver to such accountant or accounting firm (as the case may be) (x) a
copy of the initial dispute submission so delivered in accordance with the first sentence of this Section 14(b) and (y) written
documentation supporting its position with respect to such disputed arithmetic calculation of the number of Warrant Shares, in
each case, no later than 5:00 p.m. (New York time) by the fifth (5th) Business Day immediately following the date on
which the Required Holders selected such accountant or accounting firm (as the case may be) (the “Submission Deadline”)
(the documents referred to in the immediately preceding clauses (x) and (y) are collectively referred to herein as the
“Required Documentation”) (it being understood and agreed that if either the Required Holders or the Company
fails to so deliver all of the Required Documentation by the Submission Deadline, then the party who fails to so submit all of
the Required Documentation shall no longer be entitled to (and hereby waives its right to) deliver or submit any written documentation
or other support to such accountant or accounting firm (as the case may be) with respect to such disputed arithmetic calculation
of the number of Warrant Shares and such accountant or accounting firm (as the case may be) shall perform such disputed arithmetic
calculation of the number of Warrant Shares based solely on the Required Documentation that was delivered to such accountant or
accounting firm (as the case may be) prior to the Submission Deadline). Unless otherwise agreed to in writing by both the Company
and the Required Holders or otherwise requested by such accountant or accounting firm (as the case may be), neither the Company
nor the Required Holders shall be entitled to deliver or submit any written documentation or other support to such accountant or
accounting firm (as the case may be) in connection with such disputed arithmetic calculation of the number of Warrant Shares (other
than the Required Documentation).

 

(iii)            
The Company and the Required Holders shall cause such accountant or accounting firm (as the case may be) to perform such
disputed arithmetic calculation and notify the Company and the Required Holders of the results no later than ten (10) Business
Days immediately following the Submission Deadline. The fees and expenses of such accountant or accounting firm (as the case may
be) shall be borne solely by the Company, and such accountant’s or accounting firm’s (as the case may be) arithmetic
calculation shall be final and binding upon all parties absent manifest error.

 

    Exhibit A-15 

     

    

(c)               
Miscellaneous. The Company expressly acknowledges and agrees that (i) this Section 14 constitutes an agreement
to arbitrate between the Company and the Required Holders (and constitutes an arbitration agreement) under § 7501, et seq.
of the New York Civil Practice Law and Rules (“CPLR”) and that each party is authorized to apply for an order
to compel arbitration pursuant to CPLR § 7503(a) in order to compel compliance with this Section 14, (ii) the
terms of this Warrant shall serve as the basis for the selected investment bank’s resolution of the applicable dispute, such
investment bank shall be entitled (and is hereby expressly authorized) to make all findings, determinations and the like that such
investment bank determines are required to be made by such investment bank in connection with its resolution of such dispute and
in resolving such dispute such investment bank shall apply such findings, determinations and the like to the terms of this Warrant,
(iii) the terms of this Warrant shall serve as the basis for the selected accountant’s or accounting firm’s performance
of the applicable arithmetic calculation of the number of Warrant Shares, (iv) for clarification purposes and without implication
that the contrary would otherwise be true, disputes relating to matters described in Section 14(a) shall be governed by Section 14(a)
and not by Section 14(b), (v) the Required Holders (and only the Required Holders), in their sole discretion, shall have
the right to submit any dispute described in this Section 14 to any state or federal court sitting in The City of New York,
Borough of Manhattan in lieu of utilizing the procedures set forth in this Section 14 and (vi) nothing in this Section 14
shall limit the Holder from obtaining any injunctive relief or other equitable remedies (including, without limitation, with respect
to any matters described in Section 14(a) or Section 14(b)).

 

		15.	REMEDIES, CHARACTERIZATION, OTHER OBLIGATIONS, BREACHES AND INJUNCTIVE RELIEF.

 

The remedies provided
in this Warrant shall be cumulative and in addition to all other remedies available under this Warrant, at law or in equity (including
a decree of specific performance and/or other injunctive relief), and nothing herein shall limit the right of the Holder to pursue
damages for any failure by the Company to comply with the terms of this Warrant. The Company covenants to the Holder that there
shall be no characterization concerning this instrument other than as expressly provided herein. Amounts set forth or provided
for herein with respect to payments, exercises and the like (and the computation thereof) shall be the amounts to be received by
the Holder and shall not, except as expressly provided herein, be subject to any other obligation of the Company (or the performance
thereof). The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Holder and
that the remedy at law for any such breach may be inadequate. The Company therefore agrees that, in the event of any such breach
or threatened breach, the holder of this Warrant 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. The
Company shall provide all information and documentation to the Holder that is requested by the Holder to enable the Holder to confirm
the Company’s compliance with the terms and conditions of this Warrant (including, without limitation, compliance with Section 2
hereof). The issuance of shares and certificates for shares as contemplated hereby upon the exercise of this Warrant shall be made
without charge to the Holder or such shares for any issuance tax or other costs in respect thereof, provided that the Company shall
not be required to pay any tax which may be payable in respect of any transfer

 

    Exhibit A-16 

     

    

 involved in the issuance and delivery of any certificate
in a name other than the Holder or its agent on its behalf.

 

		16.	TRANSFER.

 

This Warrant may be
offered for sale, sold, transferred or assigned without the consent of the Company.

 

		17.	CERTAIN DEFINITIONS.

 

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

 

(a)               
“Bid Price” means, for any security as of the particular time of determination, the bid price for such
security on the Principal Market as reported by Bloomberg as of such time of determination, or, if the Principal Market is not
the principal securities exchange or trading market for such security, the bid price of such security on the principal securities
exchange or trading market where such security is listed or traded as reported by Bloomberg as of such time of determination, or
if the foregoing does not apply, the bid price of such security in the over-the-counter market on the electronic bulletin board
for such security as reported by Bloomberg as of such time of determination, or, if no bid price is reported for such security
by Bloomberg as of such time of determination, the average of the bid prices of all of the market makers for such security as reported
in the “pink sheets” by OTC Markets Group Inc. as of such time of determination. If the Bid Price cannot be calculated
for a security as of the particular time of determination on any of the foregoing bases, the Bid Price of such security as of such
time of determination shall be the fair market value as mutually determined by the Company and the Required Holders. If the Company
and the Required Holders are unable to agree upon the fair market value of such security, then such dispute shall be resolved in
accordance with the procedures in Section 14. All such determinations shall be appropriately adjusted for any stock dividend,
stock split, stock combination or other similar transaction during such period.

 

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

 

(c)               
“Closing Bid Price” and “Closing Sale Price” means, for any security as of any date,
the last closing bid price and the last closing trade price, respectively, for such security on the Principal Market, as reported
by Bloomberg, or, if the Principal Market begins to operate on an extended hours basis and does not designate the closing bid price
or the closing trade price (as the case may be) then the last bid price or last trade price, respectively, of such security prior
to 4:00:00 p.m., New York time, as reported by Bloomberg, or, if the Principal Market is not the principal securities exchange
or trading market for such security, the last closing bid price or last trade price, respectively, of such security on the principal
securities exchange or trading market where such security is listed or traded as reported by Bloomberg, or if the foregoing do
not apply, the average of the bid prices, or the ask prices, respectively, of all of the market makers for such security as reported
in the “pink sheets” by OTC Markets Group, Inc. If the Closing Bid Price or the Closing Sale Price cannot be calculated
for a security on a particular date on any of the foregoing bases, the Closing Bid Price or the Closing Sale Price (as the case
may be) of such 

 

    Exhibit A-17 

     

    

security on such date shall be the fair market value as mutually determined by the Company and the Required Holders.
If the Company and the Required Holders are unable to agree upon the fair market value of such security, then such dispute shall
be resolved in accordance with the procedures in Section 14. All such determinations shall be appropriately adjusted for any
stock dividend, stock split, stock combination or other similar transaction during such period.

 

(d)              
“Closing Trading Price” means, for any security as of any date, the Closing Sale Price if the security
is traded on the Principal Market or another national securities exchange, or in any other event, the Closing Bid Price.

 

(e)               
“Common Stock” means (i) the Company’s shares of common stock, $0.01 par value per share,
and (ii) any capital stock into which such common stock shall have been changed or any share capital resulting from a reclassification
of such common stock.

 

(f)               
“Convertible Securities” means any stock, note, debenture or other security (other than Options) that
is, or may become, at any time and under any circumstances, directly or indirectly, convertible into, exercisable or exchangeable
for, or which otherwise entitles the holder thereof to acquire, any shares of Common Stock.

 

(g)              
“Eligible Market” means the NYSE MKT, the New York Stock Exchange, The Nasdaq Global Select Market, The
Nasdaq Global Market, The Nasdaq Capital Market, the Principal Market, the OTCBB, the OTCQX or the OTCQB (or any successor to any
of the foregoing).

 

(h)              
“Expiration Date” means the date that is the fifth (5th) anniversary of the Issuance Date or, if
such date falls on a day other than a Business Day or on which trading does not take place on the Principal Market (a “Holiday”),
the next date that is not a Holiday.

 

(i)                
“Fundamental Transaction” means that (i) the Company shall, directly or indirectly, in one or more
related transactions, (1) consolidate or merge with or into (whether or not the Company or any of its subsidiaries is the
surviving corporation) any other Person unless the stockholders of the Company immediately prior to such consolidation or merger
continue to hold more than 50% of the outstanding shares of Voting Stock after such consolidation or merger, or (2) sell,
lease, license, assign, transfer, convey or otherwise dispose of all or substantially all of the properties or assets of the Company
and its subsidiaires, taken as a whole, to any other Person, or (3) allow any other Person to make a purchase, tender or exchange
offer that is accepted by the holders of more than 50% of the outstanding shares of Voting Stock of the Company (not including
any shares of Voting Stock of the Company 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 (4) consummate a stock or share purchase agreement
or other business combination (including, without limitation, a reorganization, recapitalization, spin-off or scheme of arrangement)
with any other Person whereby such other Person acquires more than 50% of the outstanding shares of Voting Stock of the Company
(not including any shares of Voting Stock of the Company 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 or share purchase agreement or other business combination),
or (ii) any “person” or “group” (as these terms are used for purposes of Sections 13(d) and 14(d)
of the Exchange Act and the rules and

 

    Exhibit A-18 

     

    

 regulations promulgated thereunder), other than Permitted Holders, is or shall become the
“beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of 50% of the aggregate
ordinary voting power represented by issued and outstanding Voting Stock of the Company.

 

(j)                
“Options” means any rights, warrants or options to subscribe for or purchase shares of Common Stock or
Convertible Securities.

 

(k)              
“Parent Entity” of a Person means an entity that, directly or indirectly, controls the applicable Person
and whose common stock or equivalent equity security is quoted or listed on an Eligible Market, or, if there is more than one such
Person or Parent Entity, the Person or Parent Entity with the largest public market capitalization as of the date of consummation
of the Fundamental Transaction.

 

(l)                
 “Permitted Holders” means Josh Kornberg, Atlantic Partners Alliance and SOK Partners, LLC and each of
their respective affiliates.

 

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

 

(n)              
“Principal Market” means The Nasdaq Capital Market.

 

(o)              
“Prospectus Date” means the date of the prospectus included in the registration statement pursuant to
which the Units of which this Warrant was a component were issued by the Company.

 

(p)              
“Required Holders” means, collectively, as of a particular time of determination, (as applicable) holders
of Series B Exchange Warrants then exercisable for an aggregate number of shares of Common Stock equal to 100% of the number of
shares of Common Stock issuable upon exercise of all Series B Exchange Warrants outstanding as of such time of determination (disregarding
all limitations on exercise set forth in the Series B Exchange Warrants).

 

(q)              
 “Successor Entity” means the Person (or, if so elected by the Holder, the Parent Entity) formed by,
resulting from or surviving any Fundamental Transaction or the Person (or, if so elected by the Holder, the Parent Entity) with
which such Fundamental Transaction shall have been entered into.

 

(r)                
“Trading Day” means, as applicable, (x) with respect to all price determinations relating to the
Common Stock, any day on which the Common Stock is traded on the Principal Market, or, if the Principal Market is not the principal
trading market for the Common Stock, then on the principal securities exchange or securities market on which the Common Stock is
then traded, provided that “Trading Day” shall not include any day on which the Common Stock is scheduled to trade
on such exchange or market for less than 4.5 hours or any day that the Common Stock is suspended from trading during the final
hour of trading on such exchange or market (or if such exchange or market does not designate in advance the closing time of trading
on such exchange or market, then during the hour ending at 4:00:00 p.m., New York time) unless such day is otherwise designated
as a Trading Day in writing by the Holder or (y) with respect to 

 

    Exhibit A-19 

     

    

all determinations other than price determinations relating
to the Common Stock, any day on which The New York Stock Exchange (or any successor thereto) is open for trading of securities.

 

(s)               
“Units” means the units, each consisting of two shares of Common Stock, four Series B Exchange Warrants
and four Series C Reset Warrants, issued by the Company on the Issuance Date.

 

(t)                
“Voting Stock” of a Person means capital stock of such Person of the class or classes pursuant to which
the holders thereof have the general voting power to elect, or the general power to appoint, at least a majority of the board of
directors, managers or trustees of such Person (irrespective of whether or not at the time capital stock of any other class or
classes shall have or might have voting power by reason of the happening of any contingency).

 

[Signature page follows]

 

 

 

 

    Exhibit A-20 

     

    

 

IN WITNESS WHEREOF,
the Company has caused this Warrant to Purchase Common Stock to be duly executed as of the Issuance Date set out above.

 

 

	 	 	 	 
	 	SKYLINE MEDICAL INC.
	 	 	 
	 	By:	 	
 

	 	Name:	 	 
	 	Title:	 	 

 

 

 

 

 

    [Signature Page to Warrant to Purchase
Common Stock]

 

     

    

SCHEDULE A 

 

WIRE INSTRUCTIONS FOR CASH EXERCISE

 

[NAME OF BANK]

 

ABA # [     ]

 

ACCT # [     ]

 

ACCT NAME:             [    
]

 

 

    Schedule A-1 

     

    

EXHIBIT A

 

EXERCISE NOTICE

 

TO BE EXECUTED BY THE REGISTERED HOLDER
TO EXERCISE THIS

 

WARRANT TO PURCHASE COMMON STOCK

 

SKYLINE MEDICAL INC.

 

The undersigned holder hereby exercises the right to purchase
             of the shares of Common Stock (“Warrant Shares”)
of Skyline Medical Inc., a company incorporated under the laws of the Delaware (the “Company”), evidenced by
Warrant to Purchase Common Stock No. [___] (the “Warrant”). Capitalized terms used herein and not otherwise
defined shall have the respective meanings set forth in the Warrant.

 

1. Payment of Exercise Price. The Holder shall pay the
Aggregate Exercise Price in the sum of $ to the Warrant Agent in accordance with the terms of the Warrant.

 

2. Delivery of Warrant Shares. The Company shall cause
the Warrant Agent to deliver to Holder, or its designee or agent as specified below,             
shares of Common Stock in respect of the exercise contemplated hereby. Delivery shall be made to Holder, or for its benefit, to
the following address:

 

 

	 	 
	 	 
	 	 
	 	 
	 	 

 

 

 

 

 

    Exhibit A-1

 

     

    

EXHIBIT A 

 

	 	 	 
	Date:                 ,
	 
	
 

	Name of Registered Holder
	 	 
	By:	 	
 

	 	 	Name:
	 	 	Title:
	 	 
	 	 	Account Number:                                                                                                                                               
	 	 	(if electronic book entry transfer)
	 	 
	 	 	Transaction Code Number:                                                                                                                                
	 	 	(if electronic book entry transfer)

 

 

 

    Annex A-1

 

     

    

EXHIBIT B

 

ACKNOWLEDGMENT

 

The Company hereby acknowledges this Exercise Notice and hereby
directs Corporate Stock Transfer, Inc. to issue the above indicated number of shares of Common Stock.

 

	 	 	 	 
	 	SKYLINE MEDICAL INC.
	 	 	 
	 	By:	 	 
	 	 	 	Name:
	 	 	 	Title:

 

 

 

 

 

 

 

 

 

 

 

     

    

    

 

EXHIBIT B

 

Terms and Conditions

 

FORM OF SERIES C RESET WARRANT

 

SKYLINE MEDICAL INC.

 

WARRANT TO PURCHASE COMMON STOCK

 

Warrant No.:

Date of Issuance: [            ]
(“Issuance Date”)

 

Skyline Medical Inc., a Delaware corporation
(the “Company”), hereby certifies that, for good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, [            ], the registered holder
hereof or its permitted assigns (the “Holder”), is entitled, subject to the terms set forth below, to purchase
from the Company, at the Exercise Price (as defined below) then in effect, upon exercise of this Series C Reset Warrant to Purchase
Common Stock (including any Warrants to Purchase Common Stock issued in exchange, transfer or replacement hereof, this “Warrant”),
at any time or times on or after the Issuance Date (as defined below) until 5:00 p.m., New York time, on the Expiration Date
(as defined below), [INSERT NUMBER OF WARRANT SHARES COVERED BY THIS WARRANT] (subject to adjustment as provided herein) fully
paid and non-assessable shares of Common Stock (as defined below) (the “Warrant Shares”). Except as otherwise
defined herein, capitalized terms in this Warrant shall have the meanings set forth in Section 16. This Warrant is one of
the Series C Reset Warrants to Purchase Common Stock (the “Series C Reset Warrants”) issued pursuant to the
New Warrant Agency Agreement, dated as of February [___], 2016, by and between the
Company and Corporate Stock Transfer, Inc. (the “Warrant Agent”) (the “Warrant Agency Agreement”)).

 

This Warrant shall be issuable in book
entry form (the “Book-Entry Warrant Certificate”) and shall initially be represented by one or more Book-Entry
Warrant Certificates deposited with the Warrant Agent and registered in the name of the Holder, or as otherwise directed by the
Warrant Agent. Ownership of beneficial interests in this Warrant shall be shown on, and the transfer of such ownership shall be
effected through, records maintained by the Warrant Agent (the “Warrant Register”). The Company may deem and
treat the registered Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution
to the Holder, and for all other purposes, absent actual written notice to the contrary.

 

		1.	EXERCISE OF WARRANT.

 

(a)               
Mechanics of Exercise. Subject to the terms and conditions hereof (including, without limitation, the limitations
set forth in Section 1(f)), this Warrant may be exercised by the Holder, in whole or in part, at any time on or after the
Issuance Date by delivery (whether via e-mail, facsimile or otherwise) of a written notice, in the form attached hereto as Exhibit A
(the “Exercise Notice”) to the Warrant Agent or such other office or agency of the Company as it may
designate by notice in writing to the registered Holder at the address of the Holder appearing on the books of the Company or
the Warrant Agent, of the Holder’s election to exercise this Warrant. Within one (1) Trading Day following an exercise
of this Warrant as aforesaid, the Holder shall deliver payment to the Warrant Agent of an amount equal to the

 

    Exhibit B-1 

     

    

Exercise Price in effect on the date
of such exercise multiplied by the number of Warrant Shares as to which this Warrant was so exercised (in respect of such specific
exercise, the “Aggregate Exercise Price”) in cash or via wire transfer of immediately available funds (to the
account set forth on Schedule A hereto). The Holder shall not be required to deliver the original of this Warrant
in order to effect an exercise hereunder. Execution and delivery of an Exercise Notice with respect to less than all of the Warrant
Shares shall have the same effect as cancellation of the original of this Warrant certificate and issuance of a new Warrant certificate
evidencing the right to purchase the remaining number of Warrant Shares. Execution and delivery of an Exercise Notice for all of
the then-remaining Warrant Shares shall have the same effect as cancellation of the original of this Warrant certificate after
delivery of the Warrant Shares in accordance with the terms hereof. The Company or the Warrant Agent shall maintain records showing
the number of Warrant Shares purchased and the date of such purchases. The Company or the Warrant Agent shall deliver any objection
to any Notice of Exercise form within 2 Business Days of receipt of the applicable Notice of Exercise. On or before the first
(1st) Trading Day following the date on which the Company has received an Exercise Notice, the Company shall transmit by e-mail
or facsimile an acknowledgment of confirmation of receipt of such Exercise Notice, in the form attached hereto as Exhibit B,
to the Warrant Agent. On or before the third (3rd) Trading Day following the later of (i) the date on which the Warrant
Agent has received such Exercise Notice or (ii) the date on which the Warrant Agent receives the Aggregate Exercise Price
(such date is referred to herein as the “Delivery Date”), the Company shall, (X) provided that (I) the
Transfer Agent is participating in The Depository Trust Company (“DTC”) Fast Automated Securities Transfer Program
and (II) either a registration statement for the issuance to the Holder of the applicable Warrant Shares to be issued pursuant
to such Exercise Notice is effective and the prospectus contained therein is usable or such Warrant Shares to be so issued are
otherwise freely tradable, cause the Warrant Agent to credit such aggregate number of Warrant Shares to which the Holder is entitled
pursuant to such exercise to the Holder’s or its designee’s balance account with DTC through its Deposit/Withdrawal
at Custodian system, or (Y) if either of the immediately preceding clauses (I) or (II) are not satisfied, issue and deliver
to the Holder or, at the Holder’s instruction pursuant to the Exercise Notice, the Holder’s agent or designee, in each
case, sent by reputable overnight courier to the address as specified in the applicable Exercise Notice, a certificate, registered
in the Company’s share register in the name of the Holder or its designee (as indicated in the applicable Exercise Notice),
for the number of Warrant Shares to which the Holder is entitled pursuant to such exercise. Upon the later of (i) the date
on which the Warrant Agent has received such Exercise Notice or (ii) the date on which the Warrant Agent receives the Aggregate
Exercise Price, the Holder shall be deemed for all corporate purposes to have become the holder of record of the Warrant Shares
with respect to which this Warrant has been exercised, irrespective of the date such Warrant Shares are credited to the Holder’s
DTC account or the date of delivery of the certificates evidencing such Warrant Shares (as the case may be); provided, however,
that if the date of such receipt is a date upon which the Common Stock transfer books of the Company are closed, such Holder shall
be deemed to have become the record holder of such shares on, the next succeeding day on which the Common Stock transfer books
of the Company are open. If this Warrant is submitted in connection with any exercise pursuant to this Section 1(a) and the
number of Warrant Shares represented by this Warrant submitted for exercise is greater than the number of Warrant Shares being
acquired upon an exercise, then, at the request of the Holder and upon surrender hereof by the Holder at the principal office of
the Company, the Company

 

    Exhibit B-2 

     

    

 shall as soon as practicable and in no event later than three (3) Business Days after any exercise
and at its own expense, issue and deliver to the Holder (or its designee) a new Warrant (in accordance with Section 7(d))
representing the right to purchase the number of Warrant Shares purchasable immediately prior to such exercise under this Warrant,
less the number of Warrant Shares with respect to which this Warrant is exercised. No fractional shares of Common Stock are to
be issued upon the exercise of this Warrant, but rather the number of shares of Common Stock to be issued shall be rounded up to
the nearest whole number. The Company shall pay any and all taxes and fees which may be payable with respect to the issuance and
delivery of Warrant Shares upon exercise of this Warrant.

 

(b)              
Exercise Price. For purposes of this Warrant, “Exercise Price” means $2.00, subject to adjustment
as provided herein.

 

(c)                
Company’s Failure to Timely Deliver Securities. If the Company shall fail, for any reason or for no
reason, to issue to the Holder on or before the applicable Delivery Date, a certificate for the number of shares of Common Stock
to which the Holder is entitled and register such shares of Common Stock on the Company’s share register or to credit the
Holder’s balance account with DTC for such number of shares of Common Stock to which the Holder is entitled upon the Holder’s
exercise of this Warrant (as the case may be), then, in addition to all other remedies available to the Holder, the Company shall
pay in cash to the Holder on each day after such third (3rd) Trading Day that the issuance of such shares of Common Stock
is not timely effected an amount equal to 1% of the product of (A) the aggregate number of shares of Common Stock not issued
to the Holder on a timely basis and to which the Holder is entitled and (B) the Closing Sale Price of the Common Stock on
the Trading Day immediately preceding the last possible date on which the Company could have issued such shares of Common Stock
to the Holder without violating Section 1(a). In addition to the foregoing, if the Company shall fail to issue and deliver
a certificate to the Holder and register such shares of Common Stock on the Company’s share register or credit the Holder’s
balance account with DTC for the number of shares of Common Stock to which the Holder is entitled upon the Holder’s exercise
or exchange hereunder (as the case may be) on or prior to the applicable Delivery Date, and if on or after such Delivery Date the
Holder (or any other Person in respect, or on behalf, of the Holder) purchases (in an open market transaction or otherwise) shares
of Common Stock to deliver in satisfaction of a sale by the Holder of all or any portion of the number of Warrant Shares, or a
sale of a number of shares of Common Stock equal to all or any portion of the number of Warrant Shares, issuable upon such exercise
or exchange that the Holder so anticipated receiving from the Company, then, in addition to all other remedies available to the
Holder, the Company shall, within three (3) Business Days after the Holder’s request and in the Holder’s discretion,
either (i) pay cash to the Holder in an amount equal to the Holder’s total purchase price (including brokerage commissions
and other out-of-pocket expenses, if any) for the shares of Common Stock so purchased (including, without limitation, by any other
Person in respect, or on behalf, of the Holder) (the “Buy-In Price”), at which point the Company’s obligation
to so issue and deliver such certificate or credit the Holder’s balance account with DTC for the number of shares of Common
Stock to which the Holder is entitled upon the Holder’s exercise or exchange hereunder (as the case may be) (and to issue
such shares of Common Stock) shall terminate, or (ii) promptly honor its obligation to so issue and deliver to the Holder
a certificate or certificates representing such shares of Common Stock or credit the Holder’s balance account with DTC for
the number of shares of Common Stock to which the Holder is entitled upon the 

 

    Exhibit B-3 

     

    

Holder’s exercise or exchange hereunder (as
the case may be) and pay cash to the Holder in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such
number of shares of Common Stock multiplied by (B) the lowest Closing Sale Price of the Common Stock on any Trading Day during
the period commencing on the date of the applicable Exercise Notice, as the case may be, and ending on the date of such issuance
and payment under this clause (ii).

 

(d)              
Disputes. In the case of a dispute as to the determination of the Exercise Price or the arithmetic calculation of
the number of Warrant Shares to be issued pursuant to the terms hereof, the Company shall promptly issue to the Holder the number
of Warrant Shares that are not disputed, provided that following such issuance to Holder such dispute shall be resolved in accordance
with Section 13.

 

(e)               
Limitations on Exercises and Exchanges. Notwithstanding anything to the contrary contained in this Warrant, this
Warrant shall not be exercisable or exchangeable by the Holder hereof to the extent (but only to the extent) that the Holder or
any of its Affiliates would beneficially own in excess of 4.99% (the “Maximum Percentage”) of the Common Stock.
To the extent the above limitation applies, the determination of whether this Warrant shall be exercisable or exchangeable (vis-à-vis
other convertible, exercisable or exchangeable securities owned by the Holder or any of its Affiliates) and of which such securities
shall be exercisable or exchangeable (as among all such securities owned by the Holder) shall, subject to such Maximum Percentage
limitation, be determined on the basis of the first submission to the Company for conversion, exercise or exchange (as the case
may be). No prior inability to exercise or exchange 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 or exchangeability. For the
purposes of this paragraph, beneficial ownership and all determinations and calculations (including, without limitation, with respect
to calculations of percentage ownership) shall be determined in accordance with Section 13(d) of the Securities Exchange Act
of 1934, as amended (the “1934 Act”), and the rules and regulations promulgated thereunder. The provisions of
this paragraph shall be implemented in a manner otherwise than in strict conformity with the terms of this paragraph to correct
this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Maximum Percentage beneficial ownership
limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such Maximum Percentage
limitation. The limitations contained in this paragraph shall apply to a successor Holder of this Warrant. The holders of Common
Stock shall be third party beneficiaries of this paragraph and the Company may not amend or waive this paragraph without the consent
of holders of a majority of its Common Stock. For any reason at any time, upon the written or oral request of the Holder, the Company
shall within one (1) Business Day confirm orally and in writing to the Holder the number of shares of Common Stock then outstanding,
including by virtue of any prior conversion or exercise or exchange of convertible or exercisable or exchangeable securities into
Common Stock, including, without limitation, pursuant to this Warrant or securities issued pursuant to the Certificate of Designation
for the Series B Convertible Preferred Stock.

 

(f)               
Insufficient Authorized Shares. The Company shall at all times keep reserved for issuance under this Warrant a number
of shares of Common Stock as shall be necessary to satisfy the Company’s obligation to issue shares of Common Stock hereunder
(without regard to any

 

    Exhibit B-4 

     

    

limitation otherwise contained herein with respect to the number of shares of Common Stock that may be acquirable
upon exercise or exchange of this Warrant). If, notwithstanding the foregoing, and not in limitation thereof, at any time while
any of the Series C Reset Warrants remain outstanding the Company does not have a sufficient number of authorized and unreserved
shares of Common Stock to satisfy its obligation to reserve for issuance upon exercise or exchange of the Series C Reset Warrants
at least a number of shares of Common Stock equal to the number of shares of Common Stock as shall from time to time be necessary
to effect the exercise or exchange of all of the Series C Reset Warrants then outstanding (the “Required Reserve Amount”)
(an “Authorized Share Failure”), then the Company shall immediately take all action necessary to increase the
Company’s authorized shares of Common Stock to an amount sufficient to allow the Company to reserve the Required Reserve
Amount for all the Series C Reset Warrants then outstanding. Without limiting the generality of the foregoing sentence, as soon
as practicable after the date of the occurrence of an Authorized Share Failure, but in no event later than ninety (90) days
after the occurrence of such Authorized Share Failure, the Company shall hold a meeting of its stockolders for the approval of
an increase in the number of authorized shares of Common Stock. In connection with such meeting, the Company shall provide each
stockholder with a proxy statement and shall use its commercially reasonable efforts to solicit its stockholders’ approval
of such increase in authorized shares of Common Stock and to cause its board of directors to recommend to the stockholders that
they approve such proposal.

 

		2.	ADJUSTMENT OF EXERCISE PRICE AND NUMBER OF WARRANT SHARES.

 

The Exercise Price
and number of Warrant Shares issuable upon exercise of this Warrant are subject to adjustment from time to time as set forth in
this Section 2.

 

(a)               
Stock Dividends and Splits. Without limiting any provision of Section 4, if the Company, at any time on or after
the Issuance Date, (i) pays a stock dividend on one or more classes of its then outstanding shares of Common Stock or otherwise
makes a distribution on any class of capital stock that is payable in shares of Common Stock, (ii) subdivides (by any stock
split, stock dividend, recapitalization or otherwise) one or more classes of its then outstanding shares of Common Stock into a
larger number of shares or (iii) combines (by combination, reverse stock split or otherwise) one or more classes of its then
outstanding shares of Common Stock into a smaller number of shares, then in each such case the Exercise Price shall be multiplied
by a fraction of which the numerator shall be the number of shares of Common Stock outstanding immediately before such event and
of which the denominator shall be the number of shares of Common Stock outstanding immediately after such event. Any adjustment
made pursuant to clause (i) of this paragraph shall become effective immediately after the record date for the determination
of stockholders entitled to receive such dividend or distribution, and any adjustment pursuant to clause (ii) or (iii) of
this paragraph shall become effective immediately after the effective date of such subdivision or combination. If any event requiring
an adjustment under this paragraph occurs during the period that an Exercise Price is calculated hereunder, then the calculation
of such Exercise Price shall be adjusted appropriately to reflect such event.

 

(b)              
Number of Warrant Shares. Simultaneously with any adjustment to the Exercise Price pursuant to paragraph (a)
of this Section 2, the number of Warrant Shares that may be purchased upon exercise of this Warrant shall be increased or
decreased proportionately, so that

 

    Exhibit B-5 

     

    

 after such adjustment the aggregate Exercise Price payable hereunder for the adjusted number
of Warrant Shares shall be the same as the aggregate Exercise Price in effect immediately prior to such adjustment (without regard
to any limitations on exercise contained herein).

 

(c)               
Reset of Exercise Price for VWAP. At any time commencing ninety (90) days after the Issuance Date and ending five
(5) Business Days before the Expiration Date, if the trailing average VWAP for the thirty Trading Days ending on the date prior
to the date of such determination is lower than the then-current Exercise Price, then the Exercise Price shall be reduced to the
trailing average VWAP for the thirty Trading Days ending on the date prior to the date of such determination; provided,
that in no event shall the Exercise Price be reset pursuant to this Section 2(c) to an amount lower than $1.00 (as such amount
may be appropriately adjusted to account for events described in paragraph (a) of this Section 2).

 

(d)              
Calculations. All calculations under this Section 2 shall be made by rounding to the nearest 1/10000th of cent
and the nearest 1/100th of a share, as applicable. The number of shares of Common Stock outstanding at any given time shall not
include shares owned or held by or for the account of the Company, and the disposition of any such shares shall be considered an
issue or sale of Common Stock.

 

(e)               
Other Events. In the event that the Company shall take any similar action to which the provisions hereof are not
strictly applicable, or, if applicable, would not operate to protect the Holder from dilution or if any event occurs of the type
contemplated by the provisions of this Section 2 but not expressly provided for by such provisions, then the Company’s
board of directors shall in good faith determine and implement an appropriate adjustment in the Exercise Price and the number of
Warrant Shares (if applicable) so as to protect the rights of the Holder, provided that no such adjustment pursuant to this Section 2(d)
will increase the Exercise Price or decrease the number of Warrant Shares as otherwise determined pursuant to this Section 2,
provided further that if the Required Holders (as defined below) do not accept such adjustments as appropriately protecting its
interests hereunder against such dilution, then the Company’s board of directors and the Required Holders shall agree, in
good faith, upon an independent investment bank of nationally recognized standing to make such appropriate adjustments, whose determination
shall be final and binding and whose fees and expenses shall be borne by the Company.

 

		3.	RIGHTS UPON DISTRIBUTION OF ASSETS.

 

In addition to, but
not duplicative of, any adjustments pursuant to Section 2 above, if the Company, at any time prior to the three year anniversary
of the Issuance Date, shall declare or make any dividend or other distribution of its assets (or rights to acquire its assets)
to all or substantially all of the holders of shares of Common Stock, by way of return of capital or otherwise (including, without
limitation, any distribution of cash, stock or other securities, indebtedness, property or options by way of a dividend, spin off,
reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a “Distribution”),
at any time after the issuance of this Warrant, then, in each such case, the Holder shall be entitled to participate in such Distribution
to the same extent that the Holder would have participated therein if the Holder had held the number of shares of Common Stock
acquirable upon complete exercise of this Warrant (without regard to any limitations on exercise hereof, including without

 

    Exhibit B-6 

     

    

 limitation,
the Maximum Percentage) by paying the Exercise Price for such shares of Common Stock in cash in full as of the date immediately
preceding the date on which a record is taken for such Distribution, or, if no such record is taken, the date as of which the record
holders of shares of Common Stock are to be determined for the participation in such Distribution (provided, however, to the extent
that the Holder’s right to participate in any such Distributions would result in the Holder exceeding the Maximum Percentage,
then the Holder shall not be entitled to participate in such Distribution to such extent (or the beneficial ownership of any such
shares of Common Stock as a result of such Distribution to such extent) and such Distribution to such extent shall be held in abeyance
for the benefit of the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Maximum
Percentage), provided further, such Distribution shall be held in abeyance for the benefit of the Holder until such time as the
Holder exercises this Warrant (whether in whole or in part), and subject to the foregoing proviso, upon each exercise of this Warrant
the Company shall make such Distribution to the Holder with respect to each Warrant Share for which this Warrant is so exercised
until such time as this Warrant has been exercised in full).

 

		4.	PURCHASE RIGHTS; FUNDAMENTAL TRANSACTIONS.

 

(a)               
Purchase Rights. In addition to, but not duplicative of, any adjustments pursuant to Section 2 above, if the
Company, at any time prior to the three year anniversary of the Issuance Date, grants, issues or sells any Options, Convertible
Securities or rights to purchase stock, warrants, securities or other property pro rata to all or substantially all of the record
holders of any class of shares of Common Stock (the “Purchase Rights”), then the Holder will be entitled to
acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired
if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to
any limitations on exercise hereof, including without limitation, the Maximum Percentage) by paying the Exercise Price for such
shares of Common Stock in cash in full as of the date immediately preceding the date on which a record is taken for the grant,
issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of shares of
Common Stock are to be determined for the grant, issue or sale of such Purchase Rights (provided, however, to the extent that the
Holder’s right to participate in any such Purchase Right would result in the Holder exceeding the Maximum Percentage, then
the Holder shall not be entitled to participate in such Purchase Right to such extent (or beneficial ownership of such shares of
Common Stock as a result of such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance
for the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Maximum Percentage),
and provided further, that such Purchase Rights shall be held in abeyance for the benefit of the Holder until such time as the
Holder exercises this Warrant (whether in whole or in part), and subject to the foregoing proviso, upon each exercise of this Warrant
the Company shall deliver such Purchase Rights to the Holder with respect to each Warrant Share for which this Warrant is so exercised
until such time as this Warrant has been exercised in full).

 

(b)              
Fundamental Transactions. The Company shall not enter into or be party to a Fundamental Transaction unless the Successor
Entity assumes in writing all of the obligations of the Company under this Warrant in accordance with the provisions of this Section 4(b)
pursuant to written agreements, including agreements confirming the obligations of the Successor Entity

 

    Exhibit B-7 

     

    

 as set forth in this paragraph (b)
and (c) and elsewhere in this Warrant and an obligation to deliver to the Holder in exchange for this Warrant a security of
the Successor Entity evidenced by a written instrument substantially similar in form and substance to this Warrant, including,
without limitation, which is 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)
prior to such Fundamental Transaction, and with an exercise price which applies the exercise price hereunder to such shares of
capital stock (but taking into account the relative value of the shares of Common Stock pursuant to such Fundamental Transaction
and the value of such shares of capital stock, such adjustments to the number of shares of capital stock and such exercise price
being for the purpose of protecting the economic value of this Warrant immediately prior to the consummation of such Fundamental
Transaction). Notwithstanding the foregoing, at the election of the Holder upon exercise of this Warrant following a Fundamental
Transaction, the Successor Entity shall deliver to the Holder, in lieu of the shares of Common Stock (or other securities, cash,
assets or other property (except such items still issuable under Sections 3 and 4(a) above, which shall continue to be receivable
thereafter)) issuable upon the exercise of this Warrant prior to the applicable Fundamental Transaction, such shares of common
stock (or its equivalent) of the Successor Entity (including its Parent Entity), or other securities, cash, assets or other property,
which the Holder would have been entitled to receive upon the happening of the applicable Fundamental Transaction had this Warrant
been exercised immediately prior to the applicable Fundamental Transaction (without regard to any limitations on the exercise of
this Warrant).

 

(c)               
Application. The provisions of this Section 4 shall apply similarly and equally to successive Fundamental Transactions
and shall be applied as if this Warrant (and any such subsequent warrants issued hereunder) were fully exercisable and without
regard to any limitations on the exercise of this Warrant (provided that the Holder shall continue to be entitled to the benefit
of the Maximum Percentage, applied however with respect to shares of capital stock registered under the 1934 Act and thereafter
receivable upon exercise of this Warrant (or any such other warrant)).

 

		5.	NONCIRCUMVENTION.

 

The Company hereby
covenants and agrees that the Company will not, by amendment of its certificate of incorporation, bylaws or through any reorganization,
transfer of assets, consolidation, merger, scheme of arrangement, dissolution, issue or sale of securities, or any other voluntary
action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, and will at all times in good
faith carry out all the provisions of this Warrant and take all action as may be required to protect the rights of the Holder.
Without limiting the generality of the foregoing, the Company (i) shall not increase the par value of any shares of Common
Stock receivable upon the exercise of this Warrant above the Exercise Price then in effect, (ii) shall take all such actions
as may be necessary or appropriate in order that the Company may validly and legally issue fully paid and non-assessable shares
of Common Stock upon the exercise of this Warrant, and (iii) shall, so long as any of the Series C Reset Warrants are outstanding,
take all action necessary to reserve and keep available out of its authorized and unissued shares of Common Stock, solely for the
purpose of effecting the exercise of the Series C Reset Warrants, the maximum number of shares of Common Stock as shall from time
to time 

 

    Exhibit B-8 

     

    

be necessary to effect the exercise of the Series C Reset Warrants then outstanding (without regard to any limitations
on exercise).

 

		6.	WARRANT HOLDER NOT DEEMED A STOCKHOLDER.

 

Except as otherwise
specifically provided herein, the Holder, solely in its capacity as a holder of this Warrant, shall not be entitled to vote or
receive dividends or be deemed the holder of share capital of the Company for any purpose, nor shall anything contained in this
Warrant be construed to confer upon the Holder, solely in its capacity as the Holder of this Warrant, any of the rights of a stockholder
of the Company or any right to vote, give or withhold consent to any corporate action (whether any reorganization, issue of stock,
reclassification of stock, consolidation, merger, conveyance or otherwise), receive notice of meetings, receive dividends or subscription
rights, or otherwise, prior to the issuance to the Holder of the Warrant Shares which it is then entitled to receive upon the due
exercise of this Warrant. In addition, nothing contained in this Warrant shall be construed as imposing any liabilities on the
Holder to purchase any securities (upon exercise of this Warrant or otherwise) or as a stockholder of the Company, whether such
liabilities are asserted by the Company or by creditors of the Company. Notwithstanding this Section 6, the Company shall
provide the Holder with copies of the same notices and other information given to the stockholders of the Company generally, contemporaneously
with the giving thereof to the stockholders; provided however, that the Company shall not be obligated to provide such information
if it is filed with the SEC through EDGAR and available to the public through the EDGAR system.

 

		7.	REISSUANCE OF WARRANTS.

 

(a)               
Transfer of Warrant. If this Warrant is to be transferred, the Holder shall surrender this Warrant (or the Book-Entry
Warrant Certificate) to the Company or the Warrant Agent (or other designated agent), whereupon the Company or the Warrant Agent
(or other designated agent) will forthwith issue and deliver upon the order of the Holder a new Warrant (or Book-Entry Warrant
Certificate) (in accordance with Section 8(d)), registered as the Holder may request, representing the right to purchase the
number of Warrant Shares being transferred by the Holder and, if less than the total number of Warrant Shares then underlying this
Warrant is being transferred, a new Warrant (or Book-Entry Warrant Certificate) (in accordance with Section 7(d)) to the Holder
representing the right to purchase the number of Warrant Shares not being transferred.

 

(b)              
Lost, Stolen or Mutilated Warrant. Upon receipt by the Company of evidence reasonably satisfactory to the Company
of the loss, theft, destruction or mutilation of this Warrant (or the Book-Entry Warrant Certificate) (as to which a written certification
and the indemnification contemplated below shall suffice as such evidence), and, in the case of loss, theft or destruction, of
any indemnification undertaking by the Holder to the Company in customary and reasonable form (including posting a bond) and, in
the case of mutilation, upon surrender and cancellation of this Warrant (or the Book-Entry Warrant Certificate ), the Company shall
execute and deliver to the Holder a new Warrant (or Book-Entry Warrant Certificate) (in accordance with Section 7(d)) representing
the right to purchase the Warrant Shares then underlying this Warrant.

 

    Exhibit B-9 

     

    

(c)               
Exchangeable for Multiple Warrants. This Warrant is exchangeable, upon the surrender hereof (or of the Book-Entry
Warrant Certificate ) by the Holder at the principal office of the Company, for a new Warrant or Warrants (or Book-Entry Warrant
Certificates) (in accordance with Section 87(d)) representing in the aggregate the right to purchase the number of Warrant
Shares then underlying this Warrant, and each such new Warrant (or Book-Entry Warrant Certificate) will represent the right to
purchase such portion of such Warrant Shares as is designated by the Holder at the time of such surrender; provided, however, no
warrants for fractional shares of Common Stock shall be given.

 

(d)              
Issuance of New Warrants. Whenever the Company is required to issue a new Warrant (or Book-Entry Warrant Certificate)
pursuant to the terms of this Warrant, such new Warrant (or Book-Entry Warrant Certificate) (i) shall be of like tenor with
this Warrant (or Book-Entry Warrant Certificate), (ii) shall represent, as indicated on the face of such new Warrant (or Book-Entry
Warrant Certificate), the right to purchase the Warrant Shares then underlying this Warrant (or in the case of a new Warrant (or
Book-Entry Warrant Certificate) being issued pursuant to Section 7(a) or Section 7(c), the Warrant Shares designated
by the Holder which, when added to the number of shares of Common Stock underlying the other new Warrants (or Book-Entry Warrant
Certificates) issued in connection with such issuance, does not exceed the number of Warrant Shares then underlying this Warrant),
(iii) shall have an issuance date, as indicated on the face of such new Warrant (or Book-Entry Warrant Certificate) which
is the same as the Issuance Date, and (iv) shall have the same rights and conditions as this Warrant.

 

		8.	NOTICES.

 

Whenever notice is
required to be given under this Warrant, unless otherwise provided herein, such notice shall be in writing and shall be deemed
given (w) the date of transmission, if such notice or communication is delivered via facsimile or email at the number or email
address set forth below prior to 5:00 p.m. (New York time) on a Business Day, (x) on the date delivered, if delivered
personally, (y) on the first Business Day following the deposit thereof with Federal Express or another recognized overnight
courier, if sent by Federal Express or another recognized overnight courier, and (z) on the fourth Business Day following
the mailing thereof with postage prepaid, if mailed by registered or certified mail (return receipt requested), in each case to
the parties at the following addresses (or at such other address for a party as shall be specified by like notice).

 

(a)               
If to the Company, to:

 

Skyline Medical Inc.

2915 Commers Drive, Suite 900

Eagan, MN 55121

Attention: Bob Myers, Chief Financial Officer

 

With a copy to:

Maslon LLP

90 South 7th Street, Suite 3300

Minneapolis, MN 55402

Attn: Martin Rosenbaum

 

    Exhibit B-10 

     

    

(b)              
If to the Warrant Agent, to:

 

Corporate Stock Transfer, Inc.

3200 Cherry Creek Drive South, Suite 430

Denver, Colorado 80209

Attention: Operations Department

 

(c)               
If to the Holder, to the address of such holder as shown on the Warrant Register. Any notice required to be delivered
by the Company to the Holder may be given by the Warrant Agent on behalf of the Company.

 

The Company shall provide
the Holder with prompt written notice of all actions taken pursuant to this Warrant, including in reasonable detail a description
of such action and the reason therefor. Without limiting the generality of the foregoing, the Company will give written notice
to the Holder (i) as soon as practicable upon each adjustment of the Exercise Price and the number of Warrant Shares, setting
forth in reasonable detail, and certifying, the calculation of such adjustment(s) and (ii) at least fifteen (15) days
prior to the date on which the Company closes its books or takes a record (A) with respect to any dividend or distribution
upon the shares of Common Stock, (B) with respect to any grants, issuances or sales of any Options, Convertible Securities
or rights to purchase stock, warrants, securities, indebtedness, or other property pro rata to holders of shares of Common Stock
or (C) for determining rights to vote with respect to any Fundamental Transaction, dissolution or liquidation, provided in
each case that such information (to the extent it constitutes, or contains, material, non-public information regarding the Company
or any of its subsidiaries shall be made known to the public prior to or in conjunction with such notice being provided to the
Holder and (iii) at least ten (10) Trading Days prior to the consummation of any Fundamental Transaction. To the extent
that any notice provided hereunder (whether under this Section 8 or otherwise) constitutes, or contains, material, non-public
information regarding the Company or any of its subsidiaries, the Company shall simultaneously file such notice with the SEC pursuant
to a Current Report on Form 8-K.

 

		9.	AMENDMENT AND WAIVER.

 

Except as otherwise
expressly set forth herein, the provisions of this Warrant may be amended only with the written consent of the Company and the
Required Holders. Any amendment effected in accordance with this Section 9 shall be binding upon the Holder and the Company,
provided that no such amendment shall be effective to the extent that it (1) applies to less than all Series C Reset Warrants
then outstanding, (2) imposes any obligation or liability on the Holder without the Holder’s prior written consent (which
may be granted or withheld in the Holder’s sole discretion) or (3) applies retroactively. Except as otherwise expressly
set forth herein, no waiver shall be effective unless it is in writing and signed by an authorized representative of the waiving
party, provided that the Required Holders (in a writing signed by all of the Required Holders) may waive any provision of this
Warrant, and any waiver of any provision of this Warrant made in conformity with the provisions of this Section 9 shall be
binding on the Holder, provided that no such waiver shall be effective to the extent that it (1) applies to less than all
Series C Reset Warrants then outstanding (unless a party gives a waiver as to itself only) or (2) imposes any obligation or
liability on the Holder without the 

 

    Exhibit B-11 

     

    

Holder’s prior written consent (which may be granted or withheld in the Holder’s
sole discretion). Notwithstanding the foregoing, nothing contained in this Section 9 shall permit any amendment or waiver
of any provision of Section 1(e).

 

		10.	SEVERABILITY.

 

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

 

		11.	GOVERNING LAW.

 

This Warrant shall
be governed by and construed and enforced in accordance with, and all questions concerning the construction, validity, interpretation
and performance of this Warrant 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. The Company hereby irrevocably submits to the
exclusive jurisdiction of the state and federal courts sitting in The City of New York, Borough of Manhattan, for the adjudication
of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby
irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to
the jurisdiction of any such court, that such suit, action or proceeding is brought in an inconvenient forum or that the venue
of such suit, action or proceeding is improper. Nothing contained herein shall be deemed to limit in any way any right to serve
process in any manner permitted by law. Nothing contained herein shall (i) be deemed or operate to preclude the Holder from
bringing suit or taking other legal action against the Company in any other jurisdiction to collect on the Company’s obligations
to the Holder or to enforce a judgment or other court ruling in favor of the Holder or (ii) limit, or be deemed to limit,
any provision of Section 13. THE COMPANY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST,
A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS WARRANT OR ANY TRANSACTION
CONTEMPLATED HEREBY.

 

		12.	CONSTRUCTION; HEADINGS.

 

This Warrant shall
be deemed to be jointly drafted by the Company and the Holder and shall not be construed against any Person as the drafter hereof.
The headings of this Warrant are

 

    Exhibit B-12 

     

    

 for convenience of reference and shall not form part of, or affect the interpretation of, this
Warrant.

 

		13.	DISPUTE RESOLUTION.

 

(a)               
Disputes Over the Exercise Price, Closing Sale Price, Closing Bid Price, Bid Price, Closing Trading Price, VWAP or Fair
Market Value.

 

(i)                
In the case of a dispute relating to the Exercise Price, the Closing Sale Price, the Closing Bid Price, the Bid Price, the
Closing Trading Price the VWAP or fair market value (as the case may be) (including, without limitation, a dispute relating to
the determination of any of the foregoing), the Company or the Required Holders (as the case may be) shall submit the dispute via
e-mail or facsimile (I) within twenty (20) Business Days after delivery of the applicable notice giving rise to such
dispute to the Company or the Required Holders (as the case may be) or (II) if no notice gave rise to such dispute, at any
time after the Required Holders learned of the circumstances giving rise to such dispute. If the Required Holders and the Company
are unable to resolve such dispute relating to the Exercise Price, the Closing Sale Price, the Closing Bid Price, the Bid Price,
the VWAP or fair market value (as the case may be) by 5:00 p.m. (New York time) on the third (3rd) Business Day following
such delivery by the Company or the Required Holders (as the case may be) of such dispute to the Company or the Required Holders
(as the case may be), then the Required Holders shall select an independent, reputable investment bank to resolve such dispute.

 

(ii)              
The Required Holders and the Company shall each deliver to such investment bank (x) a copy of the initial dispute submission
so delivered in accordance with the first sentence of this Section 13(a) and (y) written documentation supporting its
position with respect to such dispute, in each case, no later than 5:00 p.m. (New York time) by the fifth (5th) Business
Day immediately following the date on which the Required Holders selected such investment bank (the “Dispute Submission
Deadline”) (the documents referred to in the immediately preceding clauses (x) and (y) are collectively referred
to herein as the “Required Dispute Documentation”) (it being understood and agreed that if either the Required
Holders or the Company fails to so deliver all of the Required Dispute Documentation by the Dispute Submission Deadline, then the
party who fails to so submit all of the Required Dispute Documentation shall no longer be entitled to (and hereby waives its right
to) deliver or submit any written documentation or other support to such investment bank with respect to such dispute and such
investment bank shall resolve such dispute based solely on the Required Dispute Documentation that was delivered to such investment
bank prior to the Dispute Submission Deadline). Unless otherwise agreed to in writing by both the Company and the Required Holders
or otherwise requested by such investment bank, neither the Company nor the Required Holders shall be entitled to deliver or submit
any written documentation or other support to such investment bank in connection with such dispute (other than the Required Dispute
Documentation).

 

(iii)            
The Company and the Required Holders shall cause such investment bank to determine the resolution of such dispute and notify
the Company and the Required Holders of such resolution no later than ten (10) Business Days immediately following the Dispute
Submission Deadline. The fees and expenses of such investment bank shall be borne by the

 

    Exhibit B-13 

     

    

 Company (provided that such fees and expenses
shall be borne equally by the Company and the Required Holders only if such investment bank’s determination of the disputed
Exercise Price, Closing Sale Price, Closing Bid Price, Bid Price, Closing Trading Price, VWAP or fair market value (as the case
may be) was equal to or greater than 98% of the Company’s determination thereof that gave rise to the applicable dispute),
and such investment bank’s resolution of such dispute shall be final and binding upon all parties absent manifest error.

 

(b)              
Disputes Over Arithmetic Calculation of Warrant Shares.

 

(i)                
In the case of a dispute as to the arithmetic calculation of the number of Warrant Shares, the Company or the Required Holders
(as the case may be) shall submit the disputed arithmetic calculation via facsimile (i) within twenty (20) Business Days
after delivery of the applicable notice giving rise to such dispute to the Company or the Required Holders (as the case may be)
or (ii) if no notice gave rise to such dispute, at any time after the Required Holders learned of the circumstances giving
rise to such dispute. If the Required Holders and the Company are unable to resolve such disputed arithmetic calculation of the
number of Warrant Shares by 5:00 p.m. (New York time) on the third (3rd) Business Day following such delivery by the
Company or the Required Holders (as the case may be) of such disputed arithmetic calculation of the number of Warrant Shares to
the Company or the Required Holders (as the case may be), then the Required Holders shall select an independent, reputable accountant
or accounting firm to perform such disputed arithmetic calculation of the number of Warrant Shares.

 

(ii)              
The Required Holders and the Company shall each deliver to such accountant or accounting firm (as the case may be) (x) a
copy of the initial dispute submission so delivered in accordance with the first sentence of this Section 13(b) and (y) written
documentation supporting its position with respect to such disputed arithmetic calculation of the number of Warrant Shares, in
each case, no later than 5:00 p.m. (New York time) by the fifth (5th) Business Day immediately following the date on
which the Required Holders selected such accountant or accounting firm (as the case may be) (the “Submission Deadline”)
(the documents referred to in the immediately preceding clauses (x) and (y) are collectively referred to herein as the
“Required Documentation”) (it being understood and agreed that if either the Required Holders or the Company
fails to so deliver all of the Required Documentation by the Submission Deadline, then the party who fails to so submit all of
the Required Documentation shall no longer be entitled to (and hereby waives its right to) deliver or submit any written documentation
or other support to such accountant or accounting firm (as the case may be) with respect to such disputed arithmetic calculation
of the number of Warrant Shares and such accountant or accounting firm (as the case may be) shall perform such disputed arithmetic
calculation of the number of Warrant Shares based solely on the Required Documentation that was delivered to such accountant or
accounting firm (as the case may be) prior to the Submission Deadline). Unless otherwise agreed to in writing by both the Company
and the Required Holders or otherwise requested by such accountant or accounting firm (as the case may be), neither the Company
nor the Required Holders shall be entitled to deliver or submit any written documentation or other support to such accountant or
accounting firm (as the case may be) in connection with such disputed arithmetic calculation of the number of Warrant Shares (other
than the Required Documentation).

 

    Exhibit B-14 

     

    

(iii)            
The Company and the Required Holders shall cause such accountant or accounting firm (as the case may be) to perform such
disputed arithmetic calculation and notify the Company and the Required Holders of the results no later than ten (10) Business
Days immediately following the Submission Deadline. The fees and expenses of such accountant or accounting firm (as the case may
be) shall be borne solely by the Company, and such accountant’s or accounting firm’s (as the case may be) arithmetic
calculation shall be final and binding upon all parties absent manifest error.

 

(c)               
Miscellaneous. The Company expressly acknowledges and agrees that (i) this Section 13 constitutes an agreement
to arbitrate between the Company and the Required Holders (and constitutes an arbitration agreement) under § 7501, et seq.
of the New York Civil Practice Law and Rules (“CPLR”) and that each party is authorized to apply for an order
to compel arbitration pursuant to CPLR § 7503(a) in order to compel compliance with this Section 13, (ii) the
terms of this Warrant shall serve as the basis for the selected investment bank’s resolution of the applicable dispute, such
investment bank shall be entitled (and is hereby expressly authorized) to make all findings, determinations and the like that such
investment bank determines are required to be made by such investment bank in connection with its resolution of such dispute and
in resolving such dispute such investment bank shall apply such findings, determinations and the like to the terms of this Warrant,
(iii) the terms of this Warrant shall serve as the basis for the selected accountant’s or accounting firm’s performance
of the applicable arithmetic calculation of the number of Warrant Shares, (iv) for clarification purposes and without implication
that the contrary would otherwise be true, disputes relating to matters described in Section 13(a) shall be governed by Section 13(a)
and not by Section 13(b), (v) the Required Holders (and only the Required Holders), in their sole discretion, shall have
the right to submit any dispute described in this Section 13 to any state or federal court sitting in The City of New York,
Borough of Manhattan in lieu of utilizing the procedures set forth in this Section 13 and (vi) nothing in this Section 13
shall limit the Holder from obtaining any injunctive relief or other equitable remedies (including, without limitation, with respect
to any matters described in Section 13(a) or Section 13(b)).

 

		14.	REMEDIES, CHARACTERIZATION, OTHER OBLIGATIONS, BREACHES AND INJUNCTIVE RELIEF.

 

The remedies provided
in this Warrant shall be cumulative and in addition to all other remedies available under this Warrant, at law or in equity (including
a decree of specific performance and/or other injunctive relief), and nothing herein shall limit the right of the Holder to pursue
damages for any failure by the Company to comply with the terms of this Warrant. The Company covenants to the Holder that there
shall be no characterization concerning this instrument other than as expressly provided herein. Amounts set forth or provided
for herein with respect to payments, exercises and the like (and the computation thereof) shall be the amounts to be received by
the Holder and shall not, except as expressly provided herein, be subject to any other obligation of the Company (or the performance
thereof). The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Holder and
that the remedy at law for any such breach may be inadequate. The Company therefore agrees that, in the event of any such breach
or threatened breach, the holder of this Warrant 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 

 

    Exhibit B-15 

     

    

security being required. The
Company shall provide all information and documentation to the Holder that is requested by the Holder to enable the Holder to confirm
the Company’s compliance with the terms and conditions of this Warrant (including, without limitation, compliance with Section 2
hereof). The issuance of shares and certificates for shares as contemplated hereby upon the exercise of this Warrant shall be made
without charge to the Holder or such shares for any issuance tax or other costs in respect thereof, provided that the Company shall
not be required to pay any tax which may be payable in respect of any transfer involved in the issuance and delivery of any certificate
in a name other than the Holder or its agent on its behalf.

 

		15.	TRANSFER.

 

This Warrant may be
offered for sale, sold, transferred or assigned without the consent of the Company.

 

		16.	CERTAIN DEFINITIONS.

 

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

 

(a)               
“Bid Price” means, for any security as of the particular time of determination, the bid price for such
security on the Principal Market as reported by Bloomberg as of such time of determination, or, if the Principal Market is not
the principal securities exchange or trading market for such security, the bid price of such security on the principal securities
exchange or trading market where such security is listed or traded as reported by Bloomberg as of such time of determination, or
if the foregoing does not apply, the bid price of such security in the over-the-counter market on the electronic bulletin board
for such security as reported by Bloomberg as of such time of determination, or, if no bid price is reported for such security
by Bloomberg as of such time of determination, the average of the bid prices of all of the market makers for such security as reported
in the “pink sheets” by OTC Markets Group Inc. as of such time of determination. If the Bid Price cannot be calculated
for a security as of the particular time of determination on any of the foregoing bases, the Bid Price of such security as of such
time of determination shall be the fair market value as mutually determined by the Company and the Required Holders. If the Company
and the Required Holders are unable to agree upon the fair market value of such security, then such dispute shall be resolved in
accordance with the procedures in Section 13. All such determinations shall be appropriately adjusted for any stock dividend,
stock split, stock combination or other similar transaction during such period.

 

(b)              
“Bloomberg” means Bloomberg, L.P.

 

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

 

(d)              
“Closing Bid Price” and “Closing Sale Price” means, for any security as of any date,
the last closing bid price and the last closing trade price, respectively, for such security on the Principal Market, as reported
by Bloomberg, or, if the Principal Market begins to operate on an extended hours basis and does not designate the closing bid price
or the closing trade price (as

 

    Exhibit B-16 

     

    

 the case may be) then the last bid price or last trade price, respectively, of such security prior
to 4:00:00 p.m., New York time, as reported by Bloomberg, or, if the Principal Market is not the principal securities exchange
or trading market for such security, the last closing bid price or last trade price, respectively, of such security on the principal
securities exchange or trading market where such security is listed or traded as reported by Bloomberg, or if the foregoing do
not apply, the average of the bid prices, or the ask prices, respectively, of all of the market makers for such security as reported
in the “pink sheets” by OTC Markets Group, Inc. If the Closing Bid Price or the Closing Sale Price cannot be calculated
for a security on a particular date on any of the foregoing bases, the Closing Bid Price or the Closing Sale Price (as the case
may be) of such security on such date shall be the fair market value as mutually determined by the Company and the Required Holders.
If the Company and the Required Holders are unable to agree upon the fair market value of such security, then such dispute shall
be resolved in accordance with the procedures in Section 13. All such determinations shall be appropriately adjusted for any
stock dividend, stock split, stock combination or other similar transaction during such period.

 

(e)               
“Closing Trading Price” means, for any security as of any date, the Closing Sale Price if the security
is traded on the Principal Market or another national securities exchange, or in any other event, the Closing Bid Price.

 

(f)               
“Common Stock” means (i) the Company’s shares of common stock, $0.01 par value per share,
and (ii) any capital stock into which such common stock shall have been changed or any share capital resulting from a reclassification
of such common stock.

 

(g)              
“Convertible Securities” means any stock, note, debenture or other security (other than Options) that
is, or may become, at any time and under any circumstances, directly or indirectly, convertible into, exercisable or exchangeable
for, or which otherwise entitles the holder thereof to acquire, any shares of Common Stock.

 

(h)              
“Eligible Market” means the NYSE MKT, the New York Stock Exchange, The Nasdaq Global Select Market, The
Nasdaq Global Market, The Nasdaq Capital Market, the Principal Market, the OTCBB, the OTCQX or the OTCQB (or any successor to any
of the foregoing).

 

(i)                
“Expiration Date” means the date that is the six (6) month anniversary of the Issuance Date or, if such
date falls on a day other than a Business Day or on which trading does not take place on the Principal Market (a “Holiday”),
the next date that is not a Holiday.

 

(j)                
“Fundamental Transaction” means that (i) the Company shall, directly or indirectly, in one or more
related transactions, (1) consolidate or merge with or into (whether or not the Company or any of its subsidiaries is the
surviving corporation) any other Person unless the stockholders of the Company immediately prior to such consolidation or merger
continue to hold more than 50% of the outstanding shares of Voting Stock after such consolidation or merger, or (2) sell,
lease, license, assign, transfer, convey or otherwise dispose of all or substantially all of the properties or assets of the Company
and its subsidiaires, taken as a whole, to any other Person, or (3) allow any other Person to make a purchase, tender or exchange
offer that is accepted by the holders of more than 50% of the outstanding shares of Voting Stock of the Company (not including
any shares of Voting Stock of the Company held by the Person or Persons making or party to, or associated or affiliated with the

 

    Exhibit B-17 

     

    

Persons making or party to, such purchase, tender or exchange offer), or (4) consummate a stock or share purchase agreement
or other business combination (including, without limitation, a reorganization, recapitalization, spin-off or scheme of arrangement)
with any other Person whereby such other Person acquires more than 50% of the outstanding shares of Voting Stock of the Company
(not including any shares of Voting Stock of the Company 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 or share purchase agreement or other business combination),
or (ii) any “person” or “group” (as these terms are used for purposes of Sections 13(d) and 14(d)
of the Exchange Act and the rules and regulations promulgated thereunder), other than Permitted Holders, is or shall become the
“beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of 50% of the aggregate
ordinary voting power represented by issued and outstanding Voting Stock of the Company.

 

(k)              
“Options” means any rights, warrants or options to subscribe for or purchase shares of Common Stock or
Convertible Securities.

 

(l)                
“Parent Entity” of a Person means an entity that, directly or indirectly, controls the applicable Person
and whose common stock or equivalent equity security is quoted or listed on an Eligible Market, or, if there is more than one such
Person or Parent Entity, the Person or Parent Entity with the largest public market capitalization as of the date of consummation
of the Fundamental Transaction.

 

(m)            
 “Permitted Holders” means Josh Kornberg, Atlantic Partners Alliance and SOK Partners, LLC and each of
their respective affiliates.

 

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

 

(o)              
“Principal Market” means The Nasdaq Capital Market.

 

(p)              
“Prospectus Date” means the date of the prospectus included in the registration statement pursuant to
which the Units of which this Warrant was a component were issued by the Company.

 

(q)              
“Required Holders” means, collectively, as of a particular time of determination, (as applicable) holders
of Series C Reset Warrants then exercisable for an aggregate number of shares of Common Stock equal to 100% of the number of shares
of Common Stock issuable upon exercise of all Series C Reset Warrants outstanding as of such time of determination (disregarding
all limitations on exercise set forth in the Series C Reset Warrants).

 

(r)                
 “Successor Entity” means the Person (or, if so elected by the Holder, the Parent Entity) formed by,
resulting from or surviving any Fundamental Transaction or the Person (or, if so elected by the Holder, the Parent Entity) with
which such Fundamental Transaction shall have been entered into.

 

    Exhibit B-18 

     

    

(s)               
“Trading Day” means, as applicable, (x) with respect to all price determinations relating to the
Common Stock, any day on which the Common Stock is traded on the Principal Market, or, if the Principal Market is not the principal
trading market for the Common Stock, then on the principal securities exchange or securities market on which the Common Stock is
then traded, provided that “Trading Day” shall not include any day on which the Common Stock is scheduled to trade
on such exchange or market for less than 4.5 hours or any day that the Common Stock is suspended from trading during the final
hour of trading on such exchange or market (or if such exchange or market does not designate in advance the closing time of trading
on such exchange or market, then during the hour ending at 4:00:00 p.m., New York time) unless such day is otherwise designated
as a Trading Day in writing by the Holder or (y) with respect to all determinations other than price determinations relating
to the Common Stock, any day on which The New York Stock Exchange (or any successor thereto) is open for trading of securities.

 

(t)                
“Units” means the units, each consisting of two shares of Common Stock, four Series C Reset Warrants
and four Series C Reset Warrants, issued by the Company on the Issuance Date.

 

(u)              
“Voting Stock” of a Person means capital stock of such Person of the class or classes pursuant to which
the holders thereof have the general voting power to elect, or the general power to appoint, at least a majority of the board of
directors, managers or trustees of such Person (irrespective of whether or not at the time capital stock of any other class or
classes shall have or might have voting power by reason of the happening of any contingency).

 

(v)                
“VWAP” means, for any security as of any date, the dollar volume-weighted average price for such
security on the Principal Market (or, if the Principal Market is not the principal trading market for such security, then on the
principal securities exchange or securities market on which such security is then traded) during the period beginning at 9:30:01
a.m., New York time, and ending at 4:00:00 p.m., New York time, as reported by Bloomberg through its “AQR” function
or, if the foregoing does not apply, the dollar volume-weighted average price of such security in the over-the-counter market on
the electronic bulletin board for such security during the period beginning at 9:30:01 a.m., New York time, and ending at 4:00:00
p.m., New York time, as reported by Bloomberg, or, if no dollar volume-weighted average price is reported for such security by
Bloomberg for such hours, the average of the highest closing bid price and the lowest closing ask price of any of the market makers
for such security as reported in the “pink sheets” by OTC Markets Group Inc. (formerly Pink Sheets LLC). If the VWAP
cannot be calculated for a security on a particular date on any of the foregoing bases, the VWAP on such date shall be mutually
determined by the Company and the Required Holders. If the Company and the Required Holders are unable to agree upon the VWAP,
then such dispute shall be resolved in accordance with the procedures in Section 13. All such determinations shall be appropriately
adjusted for any stock dividend, stock split, stock combination or other similar transaction during such period.

 

[Signature page follows]

 

 

    Exhibit B-19 

     

    

IN WITNESS WHEREOF,
the Company has caused this Warrant to Purchase Common Stock to be duly executed as of the Issuance Date set out above.

 

 

	 	 	 	 
	 	SKYLINE MEDICAL INC.
	 	 	 
	 	By:	 	
 

	 	Name:	 	 
	 	Title:	 	 

 

 

    [Signature Page to Warrant to Purchase
Common Stock]

 

     

    

SCHEDULE A 

 

WIRE INSTRUCTIONS FOR CASH EXERCISE

 

[NAME OF BANK]

 

ABA # [     ]

 

ACCT # [     ]

 

ACCT NAME:             [    
]

 

 

    Schedule A-1

 

     

    

EXERCISE NOTICE

 

TO BE EXECUTED BY THE REGISTERED HOLDER
TO EXERCISE THIS

 

WARRANT TO PURCHASE COMMON STOCK

 

SKYLINE MEDICAL INC.

 

The undersigned holder hereby exercises the right to purchase
             of the shares of Common Stock (“Warrant Shares”)
of Skyline Medical Inc., a company incorporated under the laws of the Delaware (the “Company”), evidenced by
Warrant to Purchase Common Stock No. [___] (the “Warrant”). Capitalized terms used herein and not otherwise
defined shall have the respective meanings set forth in the Warrant.

 

1. Payment of Exercise Price. The Holder shall pay the
Aggregate Exercise Price in the sum of $ to the Warrant Agent in accordance with the terms of the Warrant.

 

2. Delivery of Warrant Shares. The Company shall cause
the Warrant Agent to deliver to Holder, or its designee or agent as specified below,             
shares of Common Stock in respect of the exercise contemplated hereby. Delivery shall be made to Holder, or for its benefit, to
the following address:

 

 

	 	 
	 	 
	 	 
	 	 
	 	 

 

    Exhibit A-1

 

     

    

EXHIBIT A 

 

	 	 	 
	Date:                 ,
	 
	
 

	Name of Registered Holder
	 	 
	By:	 	
 

	 	 	Name:
	 	 	Title:
	 	 
	 	 	Account Number:                                                                                                                                               
	 	 	(if electronic book entry transfer)
	 	 
	 	 	Transaction Code Number:                                                                                                                                
	 	 	(if electronic book entry transfer)

 

 

 

    Annex A-1

 

     

    

EXHIBIT B

 

ACKNOWLEDGMENT

 

The Company hereby acknowledges this Exercise Notice and hereby
directs Corporate Stock Transfer, Inc. to issue the above indicated number of shares of Common Stock.

 

	 	 	 	 
	 	SKYLINE MEDICAL INC.
	 	 	 
	 	By:	 	 
	 	 	 	Name:
	 	 	 	Title:EXHIBIT 4.22

EXCHANGE AGENT AGREEMENT

This EXCHANGE AGENT AGREEMENT, dated as of January 22, 2016
(the “Effective Date”), is by and between Skyline Medical Inc., a Delaware corporation (the “Company”),
and Corporate Stock Transfer, Inc. (“Agent”). Unless otherwise defined herein, all capitalized terms shall have the
meanings set forth in the Registration Statement (as defined below).

WHEREAS, the Company proposes to offer (the “Exchange Offer”)
to all holders (“Unitholders”) of the Company’s issued and outstanding Units (the “Existing Units”),
each consisting of (a) one share of common stock, (b) one share of Series B Preferred Stock (which is convertible into one share
of common stock after the Existing Units separate) and (c) four Series A Warrants, each of which can be exercised for one share
of common stock at $4.95 per share or for a variable number of shares upon a cashless exercise, depending on the market value of
our common stock at the time of exercise, to exchange for each Existing Unit tendered during the Exchange Offer one new unit, each
consisting of two Shares, four Series B Exchange Warrants and four Series C Reset Warrants (the “New Units”);

WHEREAS, each of the Company and
Agent desire that Agent act as the exchange agent in connection with the Exchange Offer, and as contemplated by Offer
Letter (“Offer Letter”) filed as Exhibit (a)(1)(A) to the Schedule TO (“Schedule TO”) to be filed by the
Company in connection with the Exchange Offer, with respect to the exchange of Existing Units for New Units; 

WHEREAS, the Exchange Offer shall be commenced by the Company
on or about January 22, 2016 (the “Effective Time”) and shall expire at 5:00 p.m., Eastern time, on February 22, 2016
or on such subsequent date or time to which the Company may extend such Exchange Offer (each, an “Expiration Date”).
The Letter of Transmittal accompanying the Schedule TO is to be used by the holders of the Existing Units to accept the Exchange
Offer and Schedule TO contains instructions with respect to the delivery of New Units for Existing Units tendered in connection
therewith; and

WHEREAS, the New Units will upon issuance immediately separate
into the Shares, Series B Exchange Warrants and Series C Reset Warrants included therein (the “New Unit Securities”),
and the Company directs that, upon consummation of the Exchange Offer, the Agent shall deliver the New Unit Securities to each
participating Unitholder in lieu of the New Units;

     

     

    

NOW THEREFORE, in consideration of the mutual covenants contained
herein, and for other good and valuable consideration, the receipt of which is hereby acknowledged, the parties hereto, intending
to be legally bound, agree as follows:

		1.	Appointment. Company hereby designates Agent as exchange agent for the purpose of:

 

		a.	Exchanging, after the Effective Time, either (i) original certificates representing the Existing Units (“Certificates”)
or (ii) Existing Units delivered by book-entry transfer (“Book-Entry Units) pursuant to the procedures set forth in the Offer
Letter under the caption “Procedure for Participation in the Exchange Offer,” in each case held by the Unitholder immediately
prior to the Effective Time (assuming the actual and timely receipt by the Agent of such Unitholder’s Surrender Documentation
(as defined below)), for the New Unit Securities to which such Unitholder is entitled in respect of each Existing Unit represented
by such Certificate(s) or Book-Entry Unit(s), in accordance with and pursuant to the terms and conditions of the Exchange Offer;

 

		b.	The Company expressly reserves the right to amend the Exchange Offer or to delay acceptance of the Existing Units, or to terminate
the Exchange Offer, and not to accept for exchange any Existing Units not already accepted for exchange, if in the Company’s
sole judgment, any of the conditions of the Exchange Offer specified in the Offer Letter under the caption “Procedure for
Participation in the Exchange Offer – Conditions to the Exchange Offer” shall not have been satisfied. The Company
will give oral (promptly confirmed in writing) or written notice of any amendment, termination or nonacceptance to Agent as promptly
as practicable; and

 

		c.	Agent hereby agrees to serve as the exchange agent, upon the terms and conditions set forth herein, and Agent represents and
warrants that is has the appropriate skill and experience to perform the services hereunder and agrees to perform such services
with due care and in a professional manner/

 

		2.	Surrender Documentation; Delivery of New Units.

 

		a.	Agent shall accept from each Unitholder (i) either (A) such Unitholder’s Certificates or duly executed lost Certificate
affidavit in form acceptable to the Company and Agent or (B) a receipt of an “agent’s message” (or other such
evidence, if any, of transfer as the Agent may reasonably request) in the case of Book-Entry Units, (ii) a properly completed and
duly executed Letter of Transmittal in substantially the form attached hereto as Exhibit B, and (iii) a properly completed
Form W-9 in the form attached to the Letter of Transmittal or, in the case of a non-U.S. Unitholder, Form W-8 (and all required
attachments) (items (i) through (iii) are collectively referred to as the “Surrender Documentation”).

 

    	2

     

    

 

		b.	Upon satisfaction or waiver of all of the conditions to the Exchange Offer, the Company will notify Agent of its acceptance,
promptly after the Expiration Date, of all related Existing Units properly tendered along with properly completed and duly executed
Surrender Documentation and Agent, on behalf of the Company, will exchange such Existing Units for New Unit Securities and cause
such Existing Units to be cancelled.

 

		c.	Delivery of New Unit Securities or evidence of book-entry transfer of such New Unit Securities, as applicable, to the address
set forth on each applicable Unitholder’s completed Letter of Transmittal or such alternate address as is properly submitted
in accordance with the terms thereof will be made on behalf of the Company by Agent for Existing Units tendered promptly after
notice of acceptance of said Existing Units by the Company; provided, however, that in all cases, Existing Units tendered pursuant
to the Exchange Offer will be exchanged only after timely receipt by Agent of confirmation of a properly completed and duly executed
Surrender Documentation (or manually signed facsimile thereof) with any required signature guarantees and, if applicable, any other
documents required by the Company or by the terms of the Exchange Offer.

 

		d.	Tenders pursuant to the Exchange Offer are irrevocable, except that, subject to the terms and upon the conditions set forth
in the Registration Statement and the Letter of Transmittal, Existing Units tendered pursuant to the Exchange Offer may be withdrawn
at any time prior to the Expiration Date.

 

		3.	Notification and Processing. The Agent is hereby authorized and directed by the Company, and hereby agrees to:

 

		a.	Promptly after the Effective Time, but in no event later than two calendar days after the Effective Time, to mail by first
class mail, postage prepaid to each Unitholder a copy of the Letter of Transmittal and related attachments for effecting the surrender
of such Unitholder’s Certificate(s) or Book-Entry Unit(s) in exchange for the New Unit Securities to which it is entitled
in respect of each Existing Unit represented by such Certificate(s) or Book-Entry Unit(s);

 

		b.	Receive and examine all Surrender Documentation submitted for exchange for proper completion and execution in accordance with
the terms hereof and the terms of the Letter of Transmittal; if more than one person is the record holder of any Certificate, the
applicable Surrender Documentation must be signed by each record holder;

 

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		c.	Respond to telephone, email, facsimile or mail requests for information relating to the exchange of Existing Units in connection
with the Exchange Offer;

 

		d.	Retain provisionally those exchange documents evidencing some deficiency in execution or other irregularity and make reasonable
attempts to inform the applicable Unitholder of any such deficiency and take such reasonable measure as appropriate to assist such
Unitholder in the curing of any deficiency;

 

		e.	Accept exchanges signed by persons acting in a fiduciary or representative capacity only if such capacity is show on the applicable
Letter of Transmittal and proper evidence of their authority to so act has been submitted;

 

		f.	Accept exchanges of Certificates other than in the name that appears on the Certificates submitted for exchange where (i) such
Certificates are duly endorsed or accompanied by appropriately signed stock powers, (ii) the signature thereon is guaranteed by
a participant in a recognized signature guarantee medallion program, (iii) any necessary stock transfer taxes are paid and proof
of such payment is submitted or funds therefor are provided, or it is established that no such taxes are due and payable, and (iv)
such Certificates are properly endorsed or otherwise in the proper form for transfer;

 

		g.	Accept exchanges from person alleging loss, theft or destruction of their Certificate(s) upon receipt of a properly completed,
duly executed and notarized lost Certificate affidavit in form acceptable to the Company and Agent;

 

		h.	Cancel, as exchange agent, all Certificates or Book-Entry Units, accompanied by all other properly completed and duly executed
Surrender Documentation, accepted for exchange pursuant to the terms hereof, and retain such canceled Certificates and evidence
of cancelled Book-Entry Units pending further instructions from the Company;

 

		i.	Not advise any person tendering Existing Units pursuant to the Exchange Offer as to the wisdom of making such tender or as
to the market value or decline or appreciation in market value of any Existing Units or the common stock and not solicit any Unitholder
or beneficial owner for the purpose of causing such Unitholder or beneficial owner to tender such Unitholder’s or beneficial
owner’s Existing Units;

 

		j.	Prepare and file all appropriate tax information forms as required by applicable law covering any distributions made by the
Agent to any Unitholder during each calendar year, or any portion thereof, during which the Agent performs services hereunder;

 

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		k.	Deduct and withhold, in accordance with the Internal Revenue Code of 1986, as amended, U.S. Treasury Regulations, or any applicable
provisions of state, local or foreign tax law, the appropriate backup withholding tax from any payment to be made to any Unitholder
hereunder who has not provided the Agent with a properly completed and executed Form W-9 or Form W-8 (and all required attachments),
as applicable, indicating that any such backup withholding is not required;

 

		l.	Maintain on a continuous basis a list of Unitholders who have not exchanged their Existing Units hereunder, and provide the
Company a weekly report of exchanges made during the prior week; and

 

		m.	At the request of the Company, deliver to the Company any and all records, information and material relating to the exchange
of Existing Units.

 

		4.	Proper Form. Agent will examine the Surrender Documentation delivered or mailed to the Agent by the Unitholders to ensure
that (a) the Letters of Transmittal are properly completed and duly executed in accordance with the instructions therein, (b) the
Certificates have been duly endorsed and are otherwise in proper form for surrender in accordance with the instructions in the
Letter of Transmittal, and any applicable lost Certificate affidavit has been properly completely, duly executed, notarized and
in proper form acceptable to the Company and Agent, in accordance with the instructions in the Letter of Transmittal, and (c) all
other Surrender Documentation has been properly completed, executed and in proper form in accordance with the instruction in the
Letter of Transmittal.

 

		5.	Deficient Items. If any Letter of Transmittal has been improperly completed or executed or if the Certificates are not
in proper form or if some other irregularity in connection with the Certificates exists and such irregularity is not expressly
waived in writing by the Company, the Agent shall return to the surrendering Unitholder (by either first class mail under a blanket
surety bond or insurance protecting the Agent and Company from losses or liabilities arising out of the non-receipt or non-delivery)
any Certificates surrendered and the related Surrender Documentation to such Unitholder’s address as set forth on the applicable
Letter of Transmittal.

 

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		6.	Concerning the Agent. The Agent:

 

		a.	Shall be obligated only for the performance of such duties as are expressly and specifically set forth in this Agreement, each
of which are ministerial and not fiduciary in nature, and no implied duties or obligations of any kind shall be read into this
Agreement against or on the part of the Agent;

 

		b.	May assume and rely on any certificate, instruction, request, instrument, opinion, notice, letter, facsimile transmission or
other document delivered to it and reasonably believed by it to be genuine and to have been signed or presented by the proper party
or parties;

 

		c.	Shall not be liable to anyone for any action taken or omitted to be taken by it hereunder except in the case of the Agent’s
(including its agents) default, breach of this Agreement, fraudulent acts, negligence or bad faith; and

 

		d.	Shall not be responsible or liable for any failure or delay in the performance of Agent’s obligations under this Agreement
arising out of or caused by, directly or indirectly, forces beyond Agent’s reasonable control, including without limitation
strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, or nuclear or natural catastrophes
or acts of God.

 

		7.	Indemnification.

 

		a.	Agent shall only be liable for any loss or damage resulting, directly or indirectly, from any default, breach of this Agreement,
fraudulent acts, negligence or bad faith.

 

		b.	Company shall indemnify and hold Agent harmless from and against, and Agent shall not be responsible for, any and all losses,
claims, damages, costs, charges, counsel fees and expenses, payments, expenses and liability (collectively, “Losses”)
arising out of or attributable to Agent’s duties under this Agreement or this appointment, including the reasonable costs
and expenses of defending itself against any Loss or enforcing this Agreement, except for any liability of Agent as set forth in
Section 7(a) above.

 

		8.	Term; Termination. In the event Agent is in default or breach hereunder, the Company may terminate this Agreement upon
written notice to Agent. In the event this Agreement is terminated pursuant to this Section 8, the Agent agrees to promptly transfer
all documentation and securities to the replacement exchange agent designated by the Company according to the instructions of the
Company, and shall concurrently provide an accounting of all exchanges of Existing Units previously processed by the Agent hereunder.
Unless so terminated, this Agreement shall terminate with respect to the Exchange Offer 90 days following the Expiration Date of
the Exchange Offer. Notwithstanding the foregoing, Sections 7 and 9 shall survive the termination of this Agreement.

 

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		9.	Confidentiality.

		a.	“Confidential Information” shall mean any and all technical or business information relating to a party, including,
without limitation, financial, marketing and product development information, shareholder data (including any non-public information
of such shareholder), proprietary information, and the terms and conditions (but not the existence) of this Agreement, that is
disclosed or otherwise becomes known to the other party or its affiliates, agents or representatives before or during the term
of this Agreement. Confidential Information constitutes trade secrets and is of great value to the owner (or its affiliates). Confidential
Information shall not include any information that is: (a) already known to the other party or its affiliates at the time of the
disclosure; (b) publicly known at the time of the disclosure or becomes publicly known through no wrongful act or failure of the
other party; (c) subsequently disclosed to the other party or its affiliates on a non-confidential basis by a third party not having
a confidential relationship with the owner and which rightfully acquired such information; or (d) independently developed by one
party without access to the Confidential Information of the other.

 

		b.	All Confidential Information of a party will be held in confidence by the other party with at least the same degree of care
as such party protects its own confidential or proprietary information of like kind and import, but not less than a reasonable
degree of care. Neither party will disclose in any manner Confidential Information of the other party in any form to any person
or entity without the other party’s prior consent. However, each party may disclose relevant aspects of the other party’s
Confidential Information to its officers, affiliates, agents, subcontractors and employees to the extent reasonably necessary to
perform its duties and obligations under this Agreement and such disclosure is not prohibited by applicable law. Without limiting
the foregoing, each party will implement such physical and other security measures and controls which are designed to protect (i)
the security and confidentiality of Confidential Information; (ii) against any threats or hazards to the security and integrity
of Confidential Information; and (iii) against any unauthorized access to or use of Confidential Information. To the extent that
a party delegates any duties and responsibilities under this Agreement to an agent or other subcontractor, such party ensures that
such agent and subcontractor are contractually bound to confidentiality terms consistent with the terms of this Section 9.

 

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		c.	In the event that any requests or demands are made for the disclosure of Confidential Information, other than requests to Agent
for shareholder records pursuant to standard subpoenas from state or federal government authorities (e.g., divorce and criminal
actions), the party receiving such request will promptly notify the other party to secure instructions from an authorized officer
of such party as to such request and to enable the other party the opportunity to obtain a protective order or other confidential
treatment, unless such notification is otherwise prohibited by law or court order. Each party expressly reserves the right, however,
to disclose Confidential Information to any person whenever it is advised by counsel that it may be held liable for the failure
to disclose such Confidential Information or if required by law or court order.

 

		d.	As may be required by law and without limiting any party’s rights in respect of a breach of this Section 9, each party
will promptly: (a) notify the other party in writing of any unauthorized possession, use or disclosure of the other party's Confidential
Information by any person or entity that may become known to such party; (b) furnish to the other party full details of the unauthorized
possession, use or disclosure; and (c) use commercially reasonable efforts to prevent a recurrence of any such unauthorized possession,
use or disclosure of Confidential Information.

 

		e.	Each party will bear costs it incurs as a result of compliance with this Section 9.

 

		10.	Governing Law. The validity, interpretation, and performance of this Warrant Agreement and of the New Warrants shall
be governed in all respects by the laws of the State of New York, without giving effect to conflicts of law principles that would
result in the application of the substantive laws of another jurisdiction.

 

THE COMPANY AND AGENT HEREBY IRREVOCABLY WAIVE, TO THE FULLEST EXTENT PERMITTED
BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT, THE
EXISTING UNITS, THE NEW UNIT SECURITIES OR THE TRANSACTIONS CONTEMPLATED HEREBY.

 

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		11.	Priority of Agreements. Agent hereby acknowledges receipt of the Registration Statement and the Letter of Transmittal.
Any inconsistency between this Agreement, on the one hand, and the Registration Statement and the Letter of Transmittal (as they
may be amended from time to time), on the other hand, shall be resolved in favor of the latter two documents, except with respect
to Agent’s duties, liabilities and indemnification as exchange agent.

 

		12.	Miscellaneous. This Agreement may be executed in any number of counterparts and each of such counterparts shall for
all purposes be deemed to be an original, and all such counterparts shall together constitute one and the same instrument. A signature
to this Agreement transmitted electronically shall have the same authority, effect, and enforceability as an original signature.
Neither this Agreement nor any rights or obligations hereunder may be assigned by any party without the written consent of the
other parties hereto. This Agreement shall be binding upon and inure to the benefit of each party’s respective successors
and permitted assigns. This Agreement is not intended to be for the benefit of or to be enforceable by any third party; and no
third party shall be entitled to claim that it is a third party beneficiary hereof. This Agreement may be amended or modified only
by a written amendment executed by the parties hereto. This Agreement and the Registration Statement constitute the entire agreement
between the parties hereto and supersedes any prior agreement with respect to the subject matter hereof, whether oral or written.

 

Signature Page Follows

 

 

    	9

     

    

IN WITNESS WHEREOF, the parties hereto have caused this Agreement
to be executed by their respective officers, hereunto duly authorized, as of the day and year first above written.

 

	 	AGENT:	 
	 	 	 
	 	Corporate Stock Transfer, Inc.	 
	 	 	 
	 	By:	 	 
	 	Name:	 	 
	 	Title:	 	 
	 	 	 
	 	 	 
	 	COMPANY:	 
	 	 	 
	 	Skyline Medical Inc.	 
	 	 	 
	 	By:	 	 
	 	Name:	 	 
	 	Title:	 	 
	 	 	 
	 	 	 

 

 

    	10

     

    

EXHIBIT A

REGISTRATION STATEMEMT

 

 

 

 

 

 

 

 

 

    	11

     

    

 

EXHIBIT B

LETTER OF TRANSMITTAL

 

 

 

 

 

 

 

 

12

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