Document:

Exhibit 4.1

[FORM OF WARRANT]

 

THE
NUMBER OF SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE OF THIS WARRANT MAY BE LESS THAN THE AMOUNTS SET FORTH ON THE FACE HEREOF
PURSUANT TO SECTION 1(a) OF THIS WARRANT.

 

Ekso Bionics Holdings Inc.

 

Warrant To Purchase Common
Stock

 

Warrant No.:

 

Date of Issuance: May      , 2019 (“Issuance
Date”)

 

Ekso Bionics Holdings
Inc., a Nevada 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 Warrant to Purchase Common
Stock (including any Warrants to Purchase Common Stock issued in exchange, transfer or replacement hereof, the “Warrant”),
at any time or times on or after the Issuance Date, but not after 11:59 p.m., New York time, on the Expiration Date (as defined
below), _________________1 (subject
to adjustment as provided herein) fully paid and non-assessable shares of Common Stock (as defined below) (the “Warrant
Shares”, and such number of Warrant Shares, the “Warrant Number”). 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 Warrants to
Purchase Common Stock (the “Registered Warrants”) issued pursuant to that certain Underwriting Agreement, dated
as of May 22, 2019 (the “Subscription Date”) between the Company and the underwriters thereto (the “Underwriting
Agreement”) and the Company’s Registration Statement on Form S-3 (File number 333-218517) (the “Registration
Statement”) and a prospectus supplement dated May 22, 2019 to the base prospectus contained in the Registration Statement
dated June 16, 2017 (the “Prospectus”).

 

 

100% Warrant coverage

 

     

     

    

 

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 on any day on or after the Issuance Date (the date of delivery of the Exercise Notice
(defined below), an “Exercise Date” with respect to the relevant portion of this Warrant), in whole or
in part, by delivery (whether via facsimile, electronic mail, or otherwise) of a written notice in accordance with Section 8 hereof,
in the form attached hereto as Exhibit A (the “Exercise Notice”), of the Holder’s election
to exercise this Warrant. No ink-original Exercise Notice shall be required, nor shall any medallion guarantee (or other type of
guarantee or notarization) of any Exercise Notice be required. Within one (1) Trading Day following an exercise of this Warrant
as aforesaid, the Holder shall deliver payment to the Company 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 (the “Aggregate Exercise
Price”) in cash or via wire transfer of immediately available funds to the designated account for the Company on file
with the Company’s transfer agent (the “Transfer Agent”), or such other account designated by the Company
to the Holder upon request for confirmation from the Holder, if the Holder did not notify the Company in such Exercise Notice that
such exercise was made pursuant to a Cashless Exercise (as defined in Section 1(d)). 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 and issuance
of a new Warrant 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
after delivery of the Warrant Shares in accordance with the terms hereof. On or before the first (1st) Trading Day following
the date on which the Company has received an Exercise Notice or, if later, the date that the Company receives the Aggregate Exercise
Price (unless the relevant Exercise Notice is pursuant to a Cashless Exercise), the Company shall transmit by facsimile or electronic
mail an acknowledgment of confirmation of receipt of such Exercise Notice, in the form attached hereto as Exhibit B,
to the Holder and the Company’s Transfer Agent, which confirmation shall constitute an instruction to the Transfer Agent
to process such Exercise Notice in accordance with the terms herein. On or before the second (2nd) Trading Day following the Exercise
Date (or such earlier date as required pursuant to the 1934 Act or other applicable law, rule or regulation for the settlement
of a trade of such Warrant Shares initiated on the applicable Exercise Date), the Transfer Agent shall (i) provided that the Transfer
Agent is participating in The Depository Trust Company (“DTC”) Fast Automated Securities Transfer Program, upon
the request of the Holder, credit such aggregate number of shares of Common Stock 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 (ii) if the Transfer Agent is not participating in the DTC Fast Automated Securities Transfer Program, upon the request of the
Holder, issue and deliver (via reputable overnight courier) to the address as specified in the Exercise Notice, a certificate,
registered in the name of the Holder or its designee, for the number of shares of Common Stock to which the Holder shall be entitled
pursuant to such exercise. From and after the delivery of the Exercise Notice, 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). 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 and upon surrender of this Warrant to the Company by the Holder, then, at the request of the Holder,
the Transfer Agent shall as soon as practicable and in no event later than two (2) Business Days after any exercise and at the
Company’s 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 to the
nearest whole number. The Company shall pay any and all transfer, stamp, issuance and similar taxes, costs and expenses (including,
without limitation, fees and expenses of the Transfer Agent) that may be payable with respect to the issuance and delivery of Warrant
Shares upon exercise of this Warrant. Notwithstanding the foregoing, except in the case where an exercise of this Warrant is validly
made pursuant to a Cashless Exercise, the Transfer Agent’s failure to deliver Warrant Shares to the Holder on or prior to
the later of (i) two (2) Trading Days after delivery of the applicable Exercise Notice (or such earlier date as required pursuant
to the 1934 Act or other applicable law, rule or regulation for the settlement of a trade of such Warrant Shares initiated on the
applicable Exercise Date) and (ii) one (1) Trading Day after the Company’s receipt of the Aggregate Exercise Price (or valid
notice of a Cashless Exercise) (such later date, the “Share Delivery Deadline”) shall not be deemed to be a
breach of this Warrant. From the Issuance Date through and including the Expiration Date, the Company shall maintain a transfer
agent that participates in the DTC’s Fast Automated Securities Transfer Program. The Holder and any assignee, by acceptance
of this Warrant, acknowledge and agree that, by reason of the provisions of this paragraph, following the purchase of a portion
of the Warrant Shares hereunder, the number of Warrant Shares available for purchase hereunder at any given time may be less than
the amount stated on the face hereof.

 

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Notwithstanding the foregoing
in this Section 1(a), if the Holder’s interest in this Warrant is a beneficial interest in certificate(s) representing this
Warrant held in book-entry form through DTC (or another established clearing corporation performing similar functions), the Holder
shall effect exercises made pursuant to this Section 1(a) by delivering to DTC (or such other clearing corporation, as applicable)
the appropriate instruction form for exercise, complying with the procedures to effect exercise that are required by DTC (or such
other clearing corporation, as applicable), subject to the Holder’s right to elect to receive a Warrant in certificated form
pursuant to the terms of the relevant Warrant Agency Agreement, in which case this sentence shall not apply.

 

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

 

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(c)          Company’s
Failure to Timely Deliver Securities. If the Transfer Agent shall fail, for any reason or for no reason, on or prior to the
Share Delivery Deadline, either (I) if the Transfer Agent is not participating in the DTC Fast Automated Securities Transfer Program,
to issue and deliver to the Holder (or its designee) a certificate for the number of Warrant Shares to which the Holder is entitled
and register such Warrant Shares on the Company’s share register or, if the Transfer Agent is participating in the DTC Fast
Automated Securities Transfer Program, to credit the balance account of the Holder or the Holder’s designee with DTC for
such number of Warrant Shares to which the Holder is entitled upon the Holder’s exercise of this Warrant (as the case may
be) or (II) if the Registration Statement (or prospectus contained therein) covering the issuance of the Warrant Shares that are
the subject of the Exercise Notice (the “Unavailable Warrant Shares”) is not available for the issuance of such
Unavailable Warrant Shares and the Company or the Transfer Agent fails to promptly (x) so notify the Holder and (y) deliver the
Warrant Shares electronically without any restrictive legend by crediting 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 (the event described in the immediately foregoing clause (II) is hereinafter referred as
a “Notice Failure” and together with the event described in clause (I) above, a “Delivery Failure”),
and if on or after such Share Delivery Deadline 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 shares of Common Stock issuable
upon such exercise that the Holder is entitled to receive from the Company (a “Buy-In”), 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 Transfer Agent’s obligation to so issue and deliver such certificate (and to issue such shares of Common Stock)
or credit the balance account of such Holder or such Holder’s designee, as applicable, with DTC for the number of Warrant
Shares to which the Holder is entitled upon the Holder’s exercise hereunder (as the case may be) (and to issue such Warrant
Shares) shall terminate, or (ii) promptly honor its obligation to so cause the Transfer Agent to issue and deliver to the Holder
a certificate or certificates representing such Warrant Shares or credit the balance account of such Holder or such Holder’s
designee, as applicable, with DTC for the number of Warrant Shares to which the Holder is entitled upon the Holder’s exercise
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 Warrant Shares 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 and ending on the date of such issuance and payment
under this clause (ii) (the “Buy-In Payment Amount”). Nothing shall limit the Holder’s right to pursue
any other remedies available to it hereunder, at law or in equity, including, without limitation, a decree of specific performance
and/or injunctive relief with respect to the Transfer Agent’s failure to timely deliver certificates representing shares
of Common Stock (or to electronically deliver such shares of Common Stock) upon the exercise of this Warrant as required pursuant
to the terms hereof. While this Warrant is outstanding, the Company shall cause its transfer agent to participate in the DTC Fast
Automated Securities Transfer Program. In addition to the foregoing rights, (i) if the Transfer Agent fails to deliver the applicable
number of Warrant Shares upon an exercise pursuant to Section 1 by the applicable Share Delivery Date, then the Holder shall have
the right to rescind such exercise in whole or in part and retain and/or have the Transfer Agent return, as the case may be, any
portion of this Warrant that has not been exercised pursuant to such Exercise Notice; provided that the rescission of an exercise
shall not affect the Company’s obligation to make any payments that have accrued prior to the date of such notice pursuant
to this Section 1(c) or otherwise, and (ii) if a registration statement (which may be the Registration Statement) covering the
issuance or resale of the Warrant Shares that are subject to an Exercise Notice is not available for the issuance or resale, as
applicable, of such Warrant Shares and the Holder has submitted an Exercise Notice prior to receiving notice of the non-availability
of such registration statement and the Transfer Agent has not already delivered the Warrant Shares underlying such Exercise Notice
electronically without any restrictive legend by crediting 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, the Holder shall have the option, by delivery of notice to the Company pursuant to Section 8 hereof, to (x)
rescind such Exercise Notice in whole or in part and retain or have returned, as the case may be, any portion of this Warrant that
has not been exercised pursuant to such Exercise Notice; provided that the rescission of an Exercise Notice shall not affect the
Company’s obligation to make any payments that have accrued prior to the date of such notice pursuant to this Section 1(c)
or otherwise, and/or (y) switch some or all of such Exercise Notice from a cash exercise to a Cashless Exercise In addition to
the foregoing, if the Transfer Agent fails for any reason to deliver to the Holder the Warrant Shares subject to a Exercise Notice
by the Share Delivery Deadline, the Company shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each
$1,000 of Warrant Shares subject to such exercise (based on the VWAP of the Common Stock on the date of the applicable Exercise
Notice), $10 per Trading Day (increasing to $20 per Trading Day on the fifth Trading Day after such liquidated damages begin to
accrue) for each Trading Day after such Share Delivery Deadline until such Warrant Shares are delivered or Holder rescinds such
exercise.

 

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(d)          Cashless
Exercise. Notwithstanding anything contained herein to the contrary (other than Section 1(f) below), if at the time of
exercise hereof no registration statement registering the issuance and sale of the Warrant Shares is effective (or the prospectus
contained therein is not available for use) for the issuance of all of the Warrant Shares, then the Holder may, in its sole discretion,
exercise this Warrant in whole or in part and, in lieu of making the cash payment otherwise contemplated to be made to the Company
upon such exercise in payment of the Aggregate Exercise Price, elect instead to receive upon such exercise the “Net Number”
of Warrant Shares determined according to the following formula (a “Cashless Exercise”):

 

Net Number = (A -B)(X) 

                                                              A

 

For purposes of the
foregoing formula:

 

A= as applicable: (i) the VWAP
on the Trading Day immediately preceding the date of the applicable Exercise Notice if such Exercise Notice is (1) both executed
and delivered pursuant to Section 1(a) hereof on a day that is not a Trading Day or (2) both executed and delivered pursuant to
Section 1(a) hereof on a Trading Day prior to the opening of “regular trading hours” (as defined in Rule 600(b)(64)
of Regulation NMS promulgated under the federal securities laws) on such Trading Day, (ii) at the option of the Holder, either
(y) the VWAP on the Trading Day immediately preceding the date of the applicable Exercise Notice or (z) the Bid Price of the Common
Stock on the principal Trading Market as reported by Bloomberg L.P. as of the time of the Holder’s execution of the applicable
Exercise Notice if such Exercise Notice is executed during “regular trading hours” on a Trading Day and is delivered
within two (2) hours thereafter (including until two (2) hours after the close of “regular trading hours” on a Trading
Day) pursuant to Section 1(a) hereof or (iii) the VWAP on the date of the applicable Exercise Notice if the date of such Exercise
Notice is a Trading Day and such Exercise Notice is both executed and delivered pursuant to Section 1(a) hereof after the close
of “regular trading hours” on such Trading Day.

 

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B = the Exercise Price of this
Warrant, as adjusted hereunder.

 

X = the number of Warrant Shares
that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant if such exercise were by means
of a cash exercise rather than a cashless exercise.

 

If the Warrant Shares
are issued in a Cashless Exercise, the parties acknowledge and agree that in accordance with Section 3(a)(9) of the 1933 Act, the
Warrant Shares take on the registered characteristics of the Warrants being exercised. For purposes of Rule 144(d) promulgated
under the 1933 Act, as in effect on the date of the Prospectus, it is intended that the Warrant Shares issued in a Cashless Exercise
shall be deemed to have been acquired by the Holder, and the holding period for the Warrant Shares shall be deemed to have commenced,
on the Issuance Date.

 

Notwithstanding anything
herein to the contrary, on the Termination Date, this Warrant shall be automatically exercised via cashless exercise pursuant to
this Section 1(d).

 

(e)           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 and resolve such dispute in accordance with Section 13.

 

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(f)           Limitations
on Exercises. The Company shall not effect the exercise of any portion of this Warrant, and the Holder shall not have the right
to exercise any portion of this Warrant, pursuant to the terms and conditions of this Warrant and any such exercise shall be null
and void and treated as if never made, to the extent that after giving effect to such exercise, the Holder together with the other
Attribution Parties collectively would beneficially own in excess of 4.99% (the “Maximum Percentage”) of the
shares of Common Stock outstanding immediately after giving effect to such exercise. For purposes of the foregoing sentence, the
aggregate number of shares of Common Stock beneficially owned by the Holder and the other Attribution Parties shall include the
number of shares of Common Stock held by the Holder and all other Attribution Parties plus the number of shares of Common Stock
issuable upon exercise of this Warrant with respect to which the determination of such sentence is being made, but shall exclude
shares of Common Stock which would be issuable upon (A) exercise of the remaining, unexercised portion of this Warrant beneficially
owned by the Holder or any of the other Attribution Parties and (B) exercise or conversion of the unexercised or unconverted portion
of any other securities of the Company (including, without limitation, any convertible notes or convertible preferred stock or
warrants, including other Registered Warrants) beneficially owned by the Holder or any other Attribution Party subject to a limitation
on conversion or exercise analogous to the limitation contained in this Section 1(f). For purposes of this Section 1(f), beneficial
ownership shall be calculated in accordance with Section 13(d) of the 1934 Act. For purposes of determining the number of outstanding
shares of Common Stock the Holder may acquire upon the exercise of this Warrant without exceeding the Maximum Percentage, the Holder
may rely on the number of outstanding shares of Common Stock as reflected in (x) the Company’s most recent Annual Report
on Form 10-K, Quarterly Report on Form 10-Q, Current Report on Form 8-K or other public filing with the SEC, as the case may be,
(y) a more recent public announcement by the Company or (z) any other written notice by the Company or the Transfer Agent, if any,
setting forth the number of shares of Common Stock outstanding (the “Reported Outstanding Share Number”). If
the Company receives an Exercise Notice from the Holder at a time when the actual number of outstanding shares of Common Stock
is less than the Reported Outstanding Share Number, the Company shall (i) notify the Holder in writing of the number of shares
of Common Stock then outstanding and, to the extent that such Exercise Notice would otherwise cause the Holder’s beneficial
ownership, as determined pursuant to this Section 1(f), to exceed the Maximum Percentage, the Holder must notify the Company pursuant
to Section 8 hereof, of a reduced number of Warrant Shares to be acquired pursuant to such Exercise Notice (the number of shares
by which such purchase is reduced, the “Reduction Shares”) and (ii) as soon as reasonably practicable, the Company
shall return to the Holder any exercise price paid by the Holder for the Reduction Shares. For any reason at any time, upon the
written request of the Holder, which may be via electronic mail, the Company shall within one (1) Business Day confirm in writing
or by electronic mail to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding
shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including
this Warrant, by the Holder and any other Attribution Party since the date as of which the Reported Outstanding Share Number was
reported. In the event that the issuance of shares of Common Stock to the Holder upon exercise of this Warrant results in the Holder
and the other Attribution Parties being deemed to beneficially own, in the aggregate, more than the Maximum Percentage of the number
of outstanding shares of Common Stock (as determined under Section 13(d) of the 1934 Act), the number of shares so issued by which
the Holder’s and the other Attribution Parties’ aggregate beneficial ownership exceeds the Maximum Percentage (the
 “Excess Shares”) shall be deemed null and void and shall be cancelled ab initio, and the Holder shall not have
the power to vote or to transfer the Excess Shares. As soon as reasonably practicable after the issuance of the Excess Shares has
been deemed null and void, the Company shall return to the Holder the exercise price paid by the Holder for the Excess Shares,
provided that any certificated Excess Shares are returned to the Company for cancellation. Upon delivery of a written notice to
the Company pursuant to Section 8 hereof, the Holder may from time to time increase (with such increase not effective until the
sixty-first (61st) day after delivery of such notice) or decrease the Maximum Percentage to any other percentage not
in excess of 9.99% as specified in such notice; provided that (i) any such increase in the Maximum Percentage will not be effective
until the sixty-first (61st) day after such notice is delivered to the Company and (ii) any such increase or decrease
will apply only to the Holder and the other Attribution Parties and not to any other holder of Registered Warrants that is not
an Attribution Party of the Holder. For purposes of clarity, the shares of Common Stock issuable pursuant to the terms of this
Warrant in excess of the Maximum Percentage shall not be deemed to be beneficially owned by the Holder for any purpose including
for purposes of Section 13(d) or Rule 16a-1(a)(1) of the 1934 Act. No prior inability to exercise this Warrant pursuant to this
paragraph shall have any effect on the applicability of the provisions of this paragraph with respect to any subsequent determination
of exercisability. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity
with the terms of this Section 1(f) to the extent necessary to correct this paragraph or any portion of this paragraph which may
be defective or inconsistent with the intended beneficial ownership limitation contained in this Section 1(f) or to make changes
or supplements necessary or desirable to properly give effect to such limitation. The limitation contained in this paragraph may
not be waived and shall apply to a successor holder of this Warrant.

 

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(g)          Reservation
of Shares.

 

(i)       Required
Reserve Amount. So long as this Warrant remains outstanding, the Company shall at all times keep reserved for issuance under
this Warrant a number of shares of Common Stock at least equal to 100% of the maximum number of shares of Common Stock as shall
be necessary to satisfy the Company’s obligation to issue shares of Common Stock under the Registered Warrants then outstanding
(without regard to any limitations on exercise) (the “Required Reserve Amount”); provided that at no time shall
the number of shares of Common Stock reserved pursuant to this Section 1(g)(i) be reduced other than in connection with any exercise
or proportionally in connection with any redemption of the Registered Warrants or such other event covered by Section 2(a) below.
The Required Reserve Amount (including, without limitation, each increase in the number of shares so reserved) shall be allocated
pro rata among the holders of the Registered Warrants based on number of shares of Common Stock issuable upon exercise of Registered
Warrants held by each holder on the Issuance Date (without regard to any limitations on exercise) or increase in the number of
reserved shares, as the case may be (the “Authorized Share Allocation”). In the event that a holder shall sell
or otherwise transfer any of such holder’s Registered Warrants, each transferee shall be allocated a pro rata portion of
such holder’s Authorized Share Allocation. Any shares of Common Stock reserved and allocated to any Person which ceases to
hold any Registered Warrants shall be allocated to the remaining holders of Registered Warrants, pro rata based on the number of
shares of Common Stock issuable upon exercise of the Registered Warrants then held by such holders (without regard to any limitations
on exercise).

 

(ii)       Insufficient
Authorized Shares. If, notwithstanding Section 1(g)(i) above, and not in limitation thereof, at any time while any of the Registered
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 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 Registered 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 sixty (60) days after the occurrence of such Authorized Share Failure, the Company shall hold a meeting
of its stockholders 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 reasonable best efforts to solicit
its stockholders’ approval of such increase in authorized shares of Common Stock. In the event that the Company is prohibited
from issuing or causing to be issued shares of Common Stock upon an exercise of this Warrant due to the failure by the Company
to have sufficient shares of Common Stock available out of the authorized but unissued shares of Common Stock (such unavailable
number of shares of Common Stock, the “Authorization Failure Shares”), in lieu of delivering such Authorization
Failure Shares to the Holder, the Company shall pay cash in exchange for the cancellation of such portion of this Warrant exercisable
into such Authorization Failure Shares at a price equal to the sum of (i) the product of (x) such number of Authorization Failure
Shares and (y) the greatest Closing Sale Price of the Common Stock on any Trading Day during the period commencing on the date
the Holder delivers the applicable Exercise Notice with respect to such Authorization Failure Shares to the Company and ending
on the date of such issuance and payment under this Section 1(g); and (ii) to the extent 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 Authorization Failure Shares,
any Buy-In Payment Amount, brokerage commissions and other out-of-pocket expenses, if any, of the Holder incurred in connection
therewith.

 

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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 2(b), Section 2(e), Section 3 or Section 4, if the
Company, at any time on or after the Subscription 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)         Adjustment
Upon Issuance of Shares of Common Stock. If and whenever on or after the Subscription Date, the Company issues or sells (or
enters into any definitive agreement to issue or sell), or in accordance with this Section 2 is deemed to have issued or sold,
any shares of Common Stock (including the issuance or sale of shares of Common Stock owned or held by or for the account of the
Company, but excluding any Excluded Securities issued or sold or deemed to have been issued or sold) for a consideration per share
(the “New Issuance Price”) less than a price equal to the Exercise Price in effect immediately prior to such
issuance or sale or deemed issuance or sale (such Exercise Price then in effect is referred to herein as the “Applicable
Price”) (the foregoing a “Dilutive Issuance”), then immediately after such Dilutive Issuance, the
Exercise Price then in effect shall be reduced to an amount equal to the New Issuance Price. For all purposes of the foregoing
(including, without limitation, determining the adjusted Exercise Price and the New Issuance Price under this Section 2(b)),
the following shall be applicable:

 

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(i)       Issuance
of Options. If the Company in any manner grants or sells any Options (other than Excluded Securities) and the lowest price
per share for which one share of Common Stock is at any time issuable upon the exercise of any such Option or upon conversion,
exercise or exchange of any Convertible Securities issuable upon exercise of any such Option or otherwise pursuant to the terms
thereof is less than the Applicable Price, then such share of Common Stock shall be deemed to be outstanding and to have been issued
and sold by the Company at the time of the granting or sale of such Option for such price per share. For purposes of this Section 2(b)(i),
the “lowest price per share for which one share of Common Stock is issuable upon the exercise of any such Options or upon
conversion, exercise or exchange of any Convertible Securities issuable upon exercise of any such Option or otherwise pursuant
to the terms thereof” shall be equal to (1) the lower of (x) the sum of the lowest amounts of consideration (if any) received
or receivable by the Company with respect to any one share of Common Stock upon the granting or sale of such Option, upon exercise
of such Option and upon conversion, exercise or exchange of any Convertible Security issuable upon exercise of such Option or otherwise
pursuant to the terms thereof and (y) the lowest exercise price set forth in such Option for which one share of Common Stock is
issuable upon the exercise of any such Options or upon conversion, exercise or exchange of any Convertible Securities issuable
upon exercise of any such Option or otherwise pursuant to the terms thereof minus (2) the sum of all amounts paid or payable to
the holder of such Option (or any other Person) upon the granting or sale of such Option, upon exercise of such Option and upon
conversion, exercise or exchange of any Convertible Security issuable upon exercise of such Option or otherwise pursuant to the
terms thereof plus the value of any other consideration received or receivable by, or benefit conferred on, the holder of such
Option (or any other Person). Except as contemplated below, no further adjustment of the Exercise Price shall be made upon the
actual issuance of such shares of Common Stock or of such Convertible Securities upon the exercise of such Options or otherwise
pursuant to the terms of or upon the actual issuance of such shares of Common Stock upon conversion, exercise or exchange of such
Convertible Securities.

 

(ii)       Issuance
of Convertible Securities. If the Company in any manner issues or sells any Convertible Securities (other than Excluded Securities)
and the lowest price per share for which one share of Common Stock is at any time issuable upon the conversion, exercise or exchange
thereof or otherwise pursuant to the terms thereof is less than the Applicable Price, then such share of Common Stock shall be
deemed to be outstanding and to have been issued and sold by the Company at the time of the issuance or sale of such Convertible
Securities for such price per share. For the purposes of this Section 2(b)(ii), the “lowest price per share for which
one share of Common Stock is issuable upon the conversion, exercise or exchange thereof or otherwise pursuant to the terms thereof”
shall be equal to (1) the lower of (x) the sum of the lowest amounts of consideration (if any) received or receivable by the Company
with respect to one share of Common Stock upon the issuance or sale of the Convertible Security and upon conversion, exercise or
exchange of such Convertible Security or otherwise pursuant to the terms thereof and (y) the lowest conversion price set forth
in such Convertible Security for which one share of Common Stock is issuable upon conversion, exercise or exchange thereof or otherwise
pursuant to the terms thereof minus (2) the sum of all amounts paid or payable to the holder of such Convertible Security (or any
other Person) upon the issuance or sale of such Convertible Security plus the value of any other consideration received or receivable
by, or benefit conferred on, the holder of such Convertible Security (or any other Person). Except as contemplated below, no further
adjustment of the Exercise Price shall be made upon the actual issuance of such shares of Common Stock upon conversion, exercise
or exchange of such Convertible Securities or otherwise pursuant to the terms thereof, and if any such issuance or sale of such
Convertible Securities is made upon exercise of any Options for which adjustment of this Warrant has been or is to be made pursuant
to other provisions of this Section 2(b), except as contemplated below, no further adjustment of the Exercise Price shall
be made by reason of such issuance or sale.

    	 	10	 

     

    

 

(iii)       Change
in Option Price or Rate of Conversion. If the purchase or exercise price provided for in any Options, the additional consideration,
if any, payable upon the issue, conversion, exercise or exchange of any Convertible Securities, or the rate at which any Convertible
Securities are convertible into or exercisable or exchangeable for shares of Common Stock increases or decreases at any time (other
than proportional changes in conversion or exercise prices, as applicable, in connection with an event referred to in Section 2(a)),
the Exercise Price in effect at the time of such increase or decrease shall be adjusted to the Exercise Price which would have
been in effect at such time had such Options or Convertible Securities provided for such increased or decreased purchase price,
additional consideration or increased or decreased conversion rate, as the case may be, at the time initially granted, issued or
sold. For purposes of this Section 2(b)(iii), if the terms of any Option or Convertible Security that was outstanding as of
the Subscription Date are increased or decreased in the manner described in the immediately preceding sentence, then such Option
or Convertible Security and the shares of Common Stock deemed issuable upon exercise, conversion or exchange thereof shall be deemed
to have been issued as of the date of such increase or decrease. No adjustment pursuant to this Section 2(b) shall be made
if such adjustment would result in an increase of the Exercise Price then in effect.

 

    	 	11	 

     

    

 

(iv)       Calculation
of Consideration Received. If any Option and/or Convertible Security and/or Adjustment Right is issued in connection with the
issuance or sale or deemed issuance or sale of any other securities of the Company (as determined by the Holder, the “Primary
Security”, and such Option and/or Convertible Security and/or Adjustment Right, the “Secondary Securities”
and together with the Primary Security, each a “Unit”), together comprising one integrated transaction, the
aggregate consideration per share of Common Stock with respect to such Primary Security shall be deemed to be the lower of (x)
the purchase price of such Unit, (y) if such Primary Security is an Option and/or Convertible Security, the lowest price per share
for which one share of Common Stock is at any time issuable upon the exercise or conversion of the Primary Security in accordance
with Section 2(b)(i) or 2(b)(ii) above and (z) the lowest VWAP of the Common Stock on any Trading Day during the five (5) Trading
Day period (the “Adjustment Period”) immediately following the public announcement of such Dilutive Issuance
(for the avoidance of doubt, if such public announcement is released prior to the opening of the Principal Market on a Trading
Day, such Trading Day shall be the first Trading Day in such five Trading Day period and if this Warrant is exercised, in whole
or in part, on any given Exercise Date during any such Adjustment Period, solely with respect to such portion of this Warrant exercised
on such Exercise Date, such applicable Adjustment Period shall be deemed to have ended on, and included, the Trading Day immediately
prior to such Exercise Date). If any shares of Common Stock, Options or Convertible Securities are issued or sold or deemed to
have been issued or sold for cash, the consideration received therefor will be deemed to be the net amount of consideration received
by the Company therefor. If any shares of Common Stock, Options or Convertible Securities are issued or sold or deemed to have
been issued or sold for cash, the consideration received therefor (for the purpose of determining the consideration paid for such
Common Stock, Option or Convertible Security, but not for the purpose of the calculation of the Black Scholes Consideration Value)
will be deemed to be the net amount of consideration received by the Company therefor. If any shares of Common Stock, Options or
Convertible Securities are issued or sold for a consideration other than cash, the amount of such consideration received by the
Company (for the purpose of determining the consideration paid for such Common Stock, Option or Convertible Security, but not for
the purpose of the calculation of the Black Scholes Consideration Value) will be the fair value of such consideration, except where
such consideration consists of publicly traded securities, in which case the amount of consideration received by the Company for
such securities will be the arithmetic average of the VWAPs of such security for each of the five (5) Trading Days immediately
preceding the date of receipt. If any shares of Common Stock, Options or Convertible Securities are issued to the owners of the
non-surviving entity in connection with any merger in which the Company is the surviving entity, the amount of consideration therefor
(for the purpose of determining the consideration paid for such Common Stock, Option or Convertible Security, but not for the purpose
of the calculation of the Black Scholes Consideration Value) will be deemed to be the fair value of such portion of the net assets
and business of the non-surviving entity as is attributable to such shares of Common Stock, Options or Convertible Securities (as
the case may be). The fair value of any consideration other than cash or publicly traded securities will be determined jointly
by the Company and the Holder. If such parties are unable to reach agreement within ten (10) days after the occurrence of an event
requiring valuation (the “Valuation Event”), the fair market value of such consideration will be determined
within five (5) Trading Days after the tenth (10th) day following such Valuation Event by an independent, reputable
appraiser jointly selected by the Company and the Holder. The determination of such appraiser shall be final and binding upon all
parties absent manifest error and the fees and expenses of such appraiser shall be borne by the Company.

 

(v)       Record
Date. If the Company takes a record of the holders of shares of Common Stock for the purpose of entitling them (A) to
receive a dividend or other distribution payable in shares of Common Stock, Options or in Convertible Securities or (B) to
subscribe for or purchase shares of Common Stock, Options or Convertible Securities, then such record date will be deemed to be
the date of the issuance or sale of the shares of Common Stock deemed to have been issued or sold upon the declaration of such
dividend or the making of such other distribution or the date of the granting of such right of subscription or purchase (as the
case may be).

 

    	 	12	 

     

    

 

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

 

(d)          Holder’s
Right of Alternative Exercise Price Following Issuance of Certain Options or Convertible Securities. In addition to and not
in limitation of the other provisions of this Section 2, if the Company in any manner issues or sells or enters into any agreement
to issue or sell, any Common Stock, Options or Convertible Securities (any such securities, “Variable Price Securities”)
after the Subscription Date that are issuable pursuant to such agreement or convertible into or exchangeable or exercisable for
shares of Common Stock at a price which varies or may vary with the market price of the shares of Common Stock, including by way
of one or more reset(s) to a fixed price, but exclusive of such formulations reflecting customary anti-dilution provisions (such
as share splits, share combinations, share dividends and similar transactions) (each of the formulations for such variable price
being herein referred to as, the “Variable Price”), the Company shall provide written notice thereof via facsimile
and overnight courier to the Holder on the date of such agreement and the issuance of such Convertible Securities or Options. From
and after the date the Company enters into such agreement or issues any such Variable Price Securities, the Holder shall have the
right, but not the obligation, in its sole discretion to substitute the Variable Price then in effect for the Exercise Price upon
exercise of this Warrant by designating in the Exercise Notice delivered upon any exercise of this Warrant that solely for purposes
of such exercise the Holder is relying on the Variable Price rather than the Exercise Price then in effect; provided that this
right shall not be applicable to the issuance of up to $2 million of its currently existing at-the-market facility or up to $5
million pursuant to the China JV Agreement. The Holder’s election to rely on a Variable Price for a particular exercise of
this Warrant shall not obligate the Holder to rely on a Variable Price for any future exercises of this Warrant.

 

(e)          Other
Events. In the event that the Company (or any Subsidiary (as defined in the Underwriting Agreement)) shall take any 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
(including, without limitation, the granting of stock appreciation rights, phantom stock rights or other rights with equity features),
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(e) 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 Holder does not accept such adjustments as appropriately protecting its
interests hereunder against such dilution, then the Company’s board of directors and the Holder 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 absent manifest error and whose fees and expenses shall be borne by the Company.

 

(f)           Calculations.
All calculations under this Section 2 shall be made by rounding to the nearest cent or 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 issuance or sale of Common
Stock.

 

    	 	13	 

     

    

 

(g)          Voluntary
Adjustment By Company. The Company may at any time during the term of this Warrant, with the prior written consent of the
Required Holder, reduce the then current Exercise Price to any amount and for any period of time deemed appropriate by the board
of directors of the Company.

 

3.            RIGHTS
UPON DISTRIBUTION OF ASSETS. In addition to any adjustments pursuant to Section 2 above, if the Company shall
declare or make any dividend or other distribution of its assets (or rights to acquire its assets) to 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,
property, options, evidence of indebtedness or any other assets 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 or restrictions on exercise of this Warrant, including without limitation,
the Maximum Percentage) immediately before 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, that to the extent that the Holder’s right to participate in any such Distribution would result in the
Holder and the other Attribution Parties exceeding the Maximum Percentage, then the Holder shall not be entitled to participate
in such Distribution to the extent of the Maximum Percentage (and shall not be entitled to beneficial ownership of such shares
of Common Stock as a result of such Distribution (and beneficial ownership) to the extent of any such excess) and the portion
of such Distribution shall be held in abeyance for the benefit of the Holder until such time or times, if ever, as its right thereto
would not result in the Holder and the other Attribution Parties exceeding the Maximum Percentage, at which time or times the
Holder shall be granted such Distribution (and any Distributions declared or made on such initial Distribution or on any subsequent
Distribution held similarly in abeyance) to the same extent as if there had been no such limitation).

 

4.           PURCHASE
RIGHTS; FUNDAMENTAL TRANSACTIONS.

 

(a)          Purchase
Rights. In addition to any adjustments pursuant to Section 2 above, if at any time prior to the Expiration Date
the Company grants, issues or sells any Options, Convertible Securities or rights to purchase stock, warrants, securities or other
property pro rata to the record holders of any class 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 or restrictions on exercise of this Warrant, including without limitation, the Maximum Percentage)
immediately before 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, issuance
or sale of such Purchase Rights (provided, however, that to the extent that the Holder’s right to participate
in any such Purchase Right would result in the Holder and the other Attribution Parties exceeding the Maximum Percentage, then
the Holder shall not be entitled to participate in such Purchase Right to the extent of the Maximum Percentage (and shall not be
entitled to beneficial ownership of such shares of Common Stock as a result of such Purchase Right (and beneficial ownership) to
the extent of any such excess) and such Purchase Right to such extent shall be held in abeyance for the benefit of the Holder until
such time or times, if ever, as its right thereto would not result in the Holder and the other Attribution Parties exceeding the
Maximum Percentage, at which time or times the Holder shall be granted such right (and any Purchase Right granted, issued or sold
on such initial Purchase Right or on any subsequent Purchase Right held similarly in abeyance) to the same extent as if there had
been no such limitation).

 

    	 	14	 

     

    

 

(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 in form and substance reasonably satisfactory to the Holder, including agreements 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). Upon the consummation of each Fundamental Transaction, the Successor
Entity shall succeed to, and be substituted for (so that from and after the date of the applicable Fundamental Transaction, the
provisions of this Warrant and the other Transaction Documents referring to the “Company” shall refer instead to the
Successor Entity), and may exercise every right and power of the Company and shall assume all of the obligations of the Company
under this Warrant and the other Transaction Documents with the same effect as if such Successor Entity had been named as the Company
herein. Upon consummation of each Fundamental Transaction, the Successor Entity shall deliver to the Holder confirmation that there
shall be issued upon exercise of this Warrant at any time after the consummation of the applicable Fundamental Transaction, 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) 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), as adjusted in accordance with the provisions of this Warrant. Notwithstanding the foregoing,
and without limiting Section 1(f) hereof, the Holder may elect, at its sole option, by delivery of written notice to the Company
to waive this Section 4(b) to permit the Fundamental Transaction without the assumption of this Warrant. In addition to and
not in substitution for any other rights hereunder, prior to the consummation of each Fundamental Transaction pursuant to which
holders of shares of Common Stock are entitled to receive securities or other assets with respect to or in exchange for shares
of Common Stock (a “Corporate Event”), the Company shall make appropriate provision to insure that the Holder
will thereafter have the right to receive upon an exercise of this Warrant at any time after the consummation of the applicable
Fundamental Transaction but prior to the Expiration Date, in lieu of the shares of the 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 the Warrant prior to such Fundamental Transaction, such shares of stock, securities,
cash, assets or any other property whatsoever (including warrants or other purchase or subscription rights) 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). Provision
made pursuant to the preceding sentence shall be in a form and substance reasonably satisfactory to the Holder.

 

    	 	15	 

     

    

 

(c)          Black
Scholes Value. Notwithstanding the foregoing and the provisions of Section 4(b) above, at the request of the Holder delivered
at any time commencing on the earliest to occur of (x) the public disclosure of any Change of Control, (y) the consummation of
any Change of Control and (z) the Holder first becoming aware of any Change of Control through the date that is ninety (90) days
after the public disclosure of the consummation of such Change of Control by the Company pursuant to a Current Report on Form 8-K
filed with the SEC, the Company or the Successor Entity (as the case may be) shall purchase this Warrant from the Holder on the
date of such request by paying to the Holder cash in an amount equal to the Black Scholes Value. Payment of such amounts shall
be made by the Company (or at the Company’s direction) to the Holder on or prior to the later of (x) the second (2nd)
Trading Day after the date of such request and (y) the date of consummation of such Change of Control.

 

(d)          Application.
The provisions of this Section 4 shall apply similarly and equally to successive Fundamental Transactions and Corporate Events
and shall be applied as if this Warrant (and any such subsequent warrants) 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,
issuance 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 (a) 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, and (b) 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. Notwithstanding anything herein to
the contrary, if after the sixty (60) calendar day anniversary of the Issuance Date, the Holder is not permitted to exercise this
Warrant in full for any reason (other than pursuant to restrictions set forth in Section 1(f) hereof), the Company shall use its
reasonable best efforts to promptly remedy such failure, including, without limitation, obtaining such consents or approvals as
necessary to permit such exercise into shares of Common Stock.

 

    	 	16	 

     

    

 

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 notice or information
if it is filed with the Securities and Exchange Commission 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 to the Transfer Agent, properly endorsed
with signatures properly guaranteed and accompanied by written instructions for exchange or transfer whereupon the Transfer Agent
will forthwith issue and deliver upon the order of the Holder a new Warrant (in accordance with Section 7(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 (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 Transfer Agent (with a copy of the same to the Company) of evidence reasonably
satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant (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 or posting of bond by the Holder to the Company or the Transfer Agent in customary and reasonable
form and, in the case of mutilation, upon surrender and cancellation of this Warrant to the Transfer Agent, the Company shall execute
and cause the Transfer Agent to deliver to the Holder a new Warrant (in accordance with Section 7(d)) representing the right
to purchase the Warrant Shares then underlying this Warrant.

 

    	 	17	 

     

    

 

(c)          Exchangeable
for Multiple Warrants. This Warrant is exchangeable, upon the surrender hereof by the Holder at the principal office of the
Transfer Agent, for a new Warrant or Warrants (in accordance with Section 7(d)) representing in the aggregate the right to
purchase the number of Warrant Shares then underlying this Warrant, and each such new Warrant 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 cause the Transfer Agent to issue a new Warrant pursuant to the terms
of this Warrant, such new Warrant (i) shall be of like tenor with this Warrant, (ii) shall represent, as indicated on the face
of such new Warrant, the right to purchase the Warrant Shares then underlying this Warrant (or in the case of a new Warrant 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 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
which is the same as the Issuance Date, and (iv) shall have the same rights and conditions as this Warrant.

 

8.
            NOTICES. Any notices, consents, waivers or other document or communications required or permitted to be given or
delivered under the terms of this Warrant, including, without limitation, an Exercise Notice, must be in writing and will be deemed
to have been delivered: (i) upon receipt, if delivered personally; (ii) when sent, if sent by facsimile (provided confirmation
of transmission is mechanically or electronically generated and kept on file by the sending party); (iii) when sent, if sent by
e-mail (provided that such sent e-mail is kept on file (whether electronically or otherwise) by the sending party and the sending
party does not receive an automatically generated message from the recipient’s e-mail server that such e-mail could not be
delivered to such recipient) and (iv) if sent by overnight courier service, one (1) Trading Day after deposit with an overnight
courier service with next day delivery specified, in each case, properly addressed to the party to receive the same. If notice
is given by facsimile or email, a copy of such notice shall be dispatched no later than the next business day by first class mail,
postage prepaid. The addresses, facsimile numbers and e-mail addresses for such communications shall be:

 

If to the Company or the Transfer Agent,
to both of the following:

 

Ekso Bionics Holdings, Inc.

1414 Harbour Way South, Suite 1201

Richmond, California 94804

Attention: Bob Garb, Corporate Counsel

Facsimile: (510) 927-2647

Email: ekscfo@ekso.com

 

VStock Transfer, LLC

18 Lafayette Place

Woodmere, NY 11598

Attn: Warrant Department

Email: DWAC@vstocktransfer.com

 

    	 	18	 

     

    

 

If to a Holder, to its address, facsimile
number or e-mail address set forth herein or on the books and records of the Company.

 

Or, in each of the above instances, to
such other address, facsimile number or e-mail address and/or to the attention of such other Person as the recipient party has
specified by written notice given to each other party at least five (5) days prior to the effectiveness of such change. Written
confirmation of receipt (A) given by the recipient of such notice, consent, waiver or other communication, (B) mechanically or
electronically generated by the sender’s facsimile machine containing the time, date and recipient facsimile number or (C)
provided by an overnight courier service shall be rebuttable evidence of personal service, receipt by facsimile or receipt from
an overnight courier service in accordance with clause (i), (ii) or (iv) above, respectively. A copy of the e-mail transmission
containing the time, date and recipient e- mail address shall be rebuttable evidence of receipt by e-mail in accordance with clause
(iii) above. The Company shall provide the Holder with prompt written notice of all actions taken pursuant to this Warrant (other
than the issuance of shares of Common Stock upon exercise in accordance with the terms hereof), 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) immediately 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), (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 or other property 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 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 constitutes, or contains, material, non-public
information regarding the Company or any of its Subsidiaries (as defined in the Underwriting Agreement), the Company shall simultaneously
file such notice with the SEC (as defined in the Underwriting Agreement) pursuant to a Current Report on Form 8-K. If the Company
or any of its Subsidiaries provides material non-public information to the Holder that is not simultaneously filed in a Current
Report on Form 8-K and the Holder has not agreed to receive such material non-public information, the Company hereby covenants
and agrees that the Holder shall not have any duty of confidentiality to the Company, any of its Subsidiaries or any of their respective
officers, directors, employees, affiliates or agents with respect to, or a duty to any of the foregoing not to trade on the basis
of, such material non-public information. It is expressly understood and agreed that the time of execution specified by the Holder
in each Exercise Notice shall be definitive and may not be disputed or challenged by the Company

 

9.
          AMENDMENT AND WAIVER. Except as otherwise provided herein, the provisions of this Warrant (other than Section 1(f))
may be amended or waived, and the Company may take any action herein prohibited, or omit to perform any act herein required to
be performed by it, only if the Company has obtained the written consent of the Holder. No waiver shall be effective unless it
is in writing and signed by an authorized representative of the waiving party.

 

    	 	19	 

     

    

 

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 waives personal service of process and consents to process being served in any such suit, action
or proceeding by mailing a copy thereof to the Company at the address set forth in the Underwriting Agreement and agrees that
such service shall constitute good and sufficient service of process and notice thereof. 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 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, to realize on any collateral or any other security for such obligations, or to enforce a judgment or other court
ruling in favor of the Holder. 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 for convenience of reference and shall not form part
of, or affect the interpretation of, this Warrant. Terms used in this Warrant but defined in the Underwriting Agreement shall
have the meanings ascribed to such terms on the Subscription Date in the Underwriting Agreement unless otherwise consented to
in writing by the Holder.

 

    	 	20	 

     

    

 

13.         DISPUTE
RESOLUTION. 

  

(a)           Submission
to Dispute Resolution.

 

(i)       In
the case of a dispute relating to the Exercise Price, the Closing Sale Price, Black Scholes Value or fair market value or the arithmetic
calculation of the number of Warrant Shares (as the case may be) (including, without limitation, a dispute relating to the determination
of any of the foregoing), the Company or the Holder (as the case may be) shall submit the dispute to the other party via facsimile
or email (A) if by the Company, within two (2) Business Days after the occurrence of the circumstances giving rise to such dispute
or (B) if by the Holder, (x) if with respect to a Change of Control, within ninety (90) days after the public disclosure of the
consummation of such Change of Control, or (y) otherwise, within ten (10) Trading Days after the Holder learns of the circumstances
giving rise to such dispute (or, if the Holder thereafter learns new information with respect to such circumstances, within ten
(10) Trading Days after the Holder learns of such new information). If the Holder and the Company are unable to promptly resolve
such dispute relating to such Exercise Price, such Closing Sale Price, such Black Scholes Value or such fair market value or such
arithmetic calculation of the number of Warrant Shares (as the case may be), at any time after the second (2nd) Business
Day following such initial notice by the Company or the Holder (as the case may be) of such dispute to the Company or the Holder
(as the case may be), then the Holder and the Company shall mutually agree upon, and select, an independent, reputable investment
bank to resolve such dispute.

 

(ii)       The
Holder and the Company shall each deliver to such investment bank (A) a copy of the initial dispute submission so delivered in
accordance with the first sentence of this Section 13 and (B) 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 investment bank was selected by the parties hereto (the “Dispute Submission Deadline”)
(the documents referred to in the immediately preceding clauses (A) and (B) are collectively referred to herein as the “Required
Dispute Documentation”) (it being understood and agreed that if either the Holder 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 Holder or otherwise requested by such investment bank, neither
the Company nor the Holder 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 Holder shall cause such investment bank to determine the resolution of such dispute and notify the Company and
the Holder 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 paid 50/50 by the Company and the Holder.

 

    	 	21	 

     

    

 

(b)       Miscellaneous.
The Company expressly acknowledges and agrees that (i) this Section 13 constitutes an agreement to arbitrate between the Company
and the Holder (and constitutes an arbitration agreement) under the rules then in effect under § 7501, et seq. of the New
York Civil Practice Law and Rules (“CPLR”) and that the Holder 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) a dispute relating to the
Exercise Price includes, without limitation, disputes as to (A) whether an issuance or sale or deemed issuance or sale of Common
Stock occurred under Section 2(b), (B) the consideration per share at which an issuance or deemed issuance of Common Stock occurred,
(C) whether any issuance or sale or deemed issuance or sale of Common Stock was an issuance or sale or deemed issuance or sale
of Excluded Securities, (D) whether an agreement, instrument, security or the like constitutes and Option or Convertible Security
and (E) whether a Dilutive Issuance occurred, (iii) the terms of this Warrant and each other applicable Transaction Document 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 (including, without limitation,
determining (A) whether an issuance or sale or deemed issuance or sale of Common Stock occurred under Section 2(b), (B) the consideration
per share at which an issuance or deemed issuance of Common Stock occurred, (C) whether any issuance or sale or deemed issuance
or sale of Common Stock was an issuance or sale or deemed issuance or sale of Excluded Securities, (D) whether an agreement, instrument,
security or the like constitutes and Option or Convertible Security and (E) whether a Dilutive Issuance occurred) and in resolving
such dispute such investment bank shall apply such findings, determinations and the like to the terms of this Warrant and any other
applicable Transaction Documents, (iv) either the Company or the Holder 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 (v) 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 this Section 13).

 

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 and the other Transaction Documents, 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 actual and consequential 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 specific performance and/or temporary, preliminary and permanent injunctive or other equitable
relief from any court of competent jurisdiction in any such case without the necessity of proving actual damages and without posting
a bond or other security. 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.

 

    	 	22	 

     

    

 

15.         PAYMENT
OF COLLECTION, ENFORCEMENT AND OTHER COSTS. If (a) this Warrant is placed in the hands of
an attorney for collection or enforcement or is collected or enforced through any legal proceeding or the holder otherwise takes
action to collect amounts due under this Warrant or to enforce the provisions of this Warrant or (b) there occurs any bankruptcy,
reorganization, receivership of the company or other proceedings affecting company creditors’ rights and involving a claim
under this Warrant, then the Company shall pay the costs incurred by the Holder for such collection, enforcement or action or in
connection with such bankruptcy, reorganization, receivership or other proceeding, including, without limitation, attorneys’
fees and disbursements.

 

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

 

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

 

(c)          “Adjustment
Right” means any right granted with respect to any securities issued in connection with, or with respect to, any issuance
or sale (or deemed issuance or sale in accordance with Section 2) of shares of Common Stock (other than rights of the type
described in Section 3 and 4 hereof) that could result in a decrease in the net consideration received by the Company in
connection with, or with respect to, such securities (including, without limitation, any cash settlement rights, cash adjustment
or other similar rights).

 

(d)          “Affiliate”
means, with respect to any Person, any other Person that directly or indirectly controls, is controlled by, or is under common
control with, such Person, it being understood for purposes of this definition that “control” of a Person means the
power directly or indirectly either to vote 10% or more of the stock having ordinary voting power for the election of directors
of such Person or direct or cause the direction of the management and policies of such Person whether by contract or otherwise.

 

    	 	23	 

     

    

 

(e)          
 “Approved Stock Plan” means any employee benefit plan which has been approved by the board of directors of the
Company prior to or subsequent to the date hereof pursuant to which shares of Common Stock and options to purchase Common Stock
may be issued to any employee, officer, consultant or director for services provided to the Company in their capacity as such.

 

(f)          “Attribution
Parties” means, collectively, the following Persons and entities: (i) any investment vehicle, including, any funds, feeder
funds or managed accounts, currently, or from time to time after the Subscription Date, directly or indirectly managed or advised
by the Holder’s investment manager or any of its Affiliates or principals, (ii) any direct or indirect Affiliates of the
Holder or any of the foregoing, (iii) any Person acting or who could be deemed to be acting as a Group together with the Holder
or any of the foregoing and (iv) any other Persons whose beneficial ownership of the Company’s Common Stock would or could
be aggregated with the Holder’s and the other Attribution Parties for purposes of Section 13(d) of the 1934 Act. For clarity,
the purpose of the foregoing is to subject collectively the Holder and all other Attribution Parties to the Maximum Percentage.

 

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

 

(h)      
   “Black Scholes Value” means the value of the unexercised portion of this Warrant remaining on
the date of the closing of the relevant Change of Control, which value is calculated using the Black Scholes Option Pricing
Model obtained from the “OV” function on Bloomberg utilizing (i) an underlying price per share equal to the
greater of (1) the highest Closing Sale Price of the Common Stock during the period beginning on the Trading Day immediately
preceding the announcement of the applicable Change of Control (or the consummation of the applicable Change of Control, if
earlier) and ending on the date of the closing of the relevant Change of Control (or the immediately preceding Trading Day,
if such date is not a Trading Day) and (2) the sum of the price per share being offered in cash in the applicable Change of
Control (if any) plus the value of the non-cash consideration being offered in the applicable Change of Control (if any),
(ii) a strike price equal to the Exercise Price in effect on the date of the closing of the relevant Change of Control, (iii)
a risk-free interest rate corresponding to the U.S. Treasury rate for a period equal to the greater of (1) the remaining term
of this Warrant as of the date of the closing of the relevant Change of Control and (2) the remaining term of this Warrant as
of the date of the closing of the relevant Change of Control, (iv) a zero cost of borrow and (v) an expected volatility equal
to the greater of 100% and the 30 day volatility obtained from the “HVT” function on Bloomberg (determined
utilizing a 365 day annualization factor) as of the Trading Day immediately following the earliest to occur of (A) the public
disclosure of the applicable Change of Control, (B) the consummation of the applicable Change of Control and (C) the date on
which the Holder first became aware of the applicable Change of Control.

 

    	 	24	 

     

    

 

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

 

(j)          “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.

 

(k)         “Change
of Control” means any Fundamental Transaction other than (i) any merger of the Company or any of its, direct or indirect,
wholly-owned Subsidiaries with or into any of the foregoing Persons, (ii) any reorganization, recapitalization or reclassification
of the shares of Common Stock in which holders of the Company’s voting power immediately prior to such reorganization, recapitalization
or reclassification continue after such reorganization, recapitalization or reclassification to hold publicly traded securities
and, directly or indirectly, are, in all material respects, the holders of the voting power of the surviving entity (or entities
with the authority or voting power to elect the members of the board of directors (or their equivalent if other than a corporation)
of such entity or entities) after such reorganization, recapitalization or reclassification, or (iii) pursuant to a migratory merger
effected solely for the purpose of changing the jurisdiction of incorporation of the Company or any of its Subsidiaries.

 

(l)   
      “China JV Agreement” means that certain Equity Joint Venture Contract dated
January 30, 2019, as amended on April 30, 2019, by and among the Company, Zhejiang Youchuang Venture Capital Investment Co.,
Ltd. and Shaoxing City Keqiao District Paradise Silicon Intelligent Robot Industrial Investment Partnership (Limited
Partnership).

 

(m)         
 “Closing Sale Price” means, for any security as of any date, the last closing trade price 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 trade price, then the last trade price 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 trade price 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 does not apply, the last trade price of such security in the over-the-counter market
on the electronic bulletin board for such security as reported by Bloomberg, or, if no last trade price is reported for such security
by Bloomberg, the average of the ask prices of any market makers for such security as reported in the “pink sheets”
by OTC Markets Group Inc. (formerly Pink Sheets LLC). If the Closing Sale Price cannot be calculated for a security on a particular
date on any of the foregoing bases, the Closing Sale Price of such security on such date shall be the fair market value as mutually
determined by the Company and the Holder. If the Company and the Holder 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.

 

    	 	25	 

     

    

 

(n)          “Common
Stock” means (i) the Company’s shares of common stock, $0.001 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.

 

(o)          “Convertible
Securities” means any stock or other security (other than Options) that is 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.

 

(p)  
       “Eligible Market” means The New York Stock Exchange, the Nasdaq Global
Select Market, the Nasdaq Global Market, or the Principal Market.

 

(q)   
      “Excluded Securities” means (i) shares of Common Stock, restricted stock units,
stock appreciation rights, options to purchase Common Stock or similar rights issued to directors, officers, employees or
consultants of the Company for services rendered to the Company in their capacity as such pursuant to an Approved Stock Plan
or any inducement award permitted to be issued without shareholder approval pursuant to the rules of Nasdaq; (ii) shares of
Common Stock issued upon the conversion or exercise of Convertible Securities (other than options to purchase Common Stock
issued pursuant to an Approved Stock Plan that are covered by clause (i) above) issued prior to the date of the Prospectus,
provided that the conversion price of any such Convertible Securities (other than options to purchase Common Stock issued
pursuant to an Approved Stock Plan that are covered by clause (i) above) is not lowered, none of such Convertible Securities
(other than options to purchase Common Stock issued pursuant to an Approved Stock Plan that are covered by clause (i) above)
are amended to increase the number of shares issuable thereunder and none of the terms or conditions of any such Convertible
Securities (other than options to purchase Common Stock issued pursuant to an Approved Stock Plan that are covered by clause
(i) above) are otherwise materially changed in any manner that adversely affects the Holder; (iii) shares of Common Stock,
Options and Convertible Securities issued pursuant to equipment acquisitions, strategic mergers or acquisitions of other
assets or businesses, strategic licensing or development transactions, strategic partnerships or strategic joint
ventures; provided that (w) such securities are issued as “restricted securities” (as defined in Rule 144) and
carry no registration rights that require or permit the filing of any registration statement in connection therewith, (x) the
primary purpose of such issuance is not to raise capital as determined in good faith by the Holder, (y) the purchaser or
acquirer of such shares of Common Stock, Options or Convertible Securities issued in such issuance solely consists of either
(1) an actual participant in such transaction that is not a Person whose primary business is investing in securities and
otherwise, (2) the actual owners of such assets or securities acquired in such merger or acquisition or (3) the shareholders,
partners, members or other designees of the foregoing Persons (provided that any designee must either be a controlled
affiliate of the foregoing Persons or must not be a Person whose primary business is investing in securities and otherwise),
and (z) the number or amount (as the case may be) of such shares of Common Stock issued to such Person by the Company shall
not be disproportionate to such Person’s actual participation in such transactions or ownership of such assets or
securities to be acquired by the Company (as applicable); (iv) up to $2 million of sales of Common Stock in “an at the
market offering” as defined in Rule 415(a)(4) of the 1933 Act; and (v) to the extent not covered under the foregoing
clauses (i) to (v), up to $5 million of shares issued pursuant to the China JV Agreement (as in effect as of the Subscription
Date).

 

    	 	26	 

     

    

 

(r)          “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 Trading Day or on which trading does not take place on the Principal Market (a “Holiday”),
the next date that is not a Holiday.

 

(s)         
 “Fundamental Transaction” means (A) that the Company shall, directly or indirectly, including through subsidiaries,
Affiliates or otherwise, in one or more related transactions, (i) consolidate or merge with or into (whether or not the Company
is the surviving corporation) another Subject Entity, or (ii) sell, assign, transfer, convey or otherwise dispose of all or substantially
all of the properties or assets of the Company or any of its “significant subsidiaries” (as defined in Rule 1-02 of
Regulation S-X) to one or more Subject Entities, or (iii) make, or allow one or more Subject Entities to make, or allow the Company
to be subject to or have its Common Stock be subject to or party to one or more Subject Entities making, a purchase, tender or
exchange offer that is accepted by the holders of at least either (x) 50% of the outstanding shares of Common Stock, (y) 50% of
the outstanding shares of Common Stock calculated as if any shares of Common Stock held by all Subject Entities making or party
to, or Affiliated with any Subject Entities making or party to, such purchase, tender or exchange offer were not outstanding; or
(z) such number of shares of Common Stock such that all Subject Entities making or party to, or Affiliated with any Subject Entity
making or party to, such purchase, tender or exchange offer, become collectively the beneficial owners (as defined in Rule 13d-3
under the 1934 Act) of at least 50% of the outstanding shares of Common Stock, or (iv) consummate a stock or share purchase agreement
or other business combination (including, without limitation, a reorganization, recapitalization, spin-off or scheme of arrangement)
with one or more Subject Entities whereby all such Subject Entities, individually or in the aggregate, acquire, either (x) at least
50% of the outstanding shares of Common Stock, (y) at least 50% of the outstanding shares of Common Stock calculated as if any
shares of Common Stock held by all the Subject Entities making or party to, or Affiliated with any Subject Entity making or party
to, such stock purchase agreement or other business combination were not outstanding; or (z) such number of shares of Common Stock
such that the Subject Entities become collectively the beneficial owners (as defined in Rule 13d-3 under the 1934 Act) of at least
50% of the outstanding shares of Common Stock, or (v) reorganize, recapitalize or reclassify its Common Stock, (B) that the Company
shall, directly or indirectly, including through subsidiaries, Affiliates or otherwise, in one or more related transactions, allow
any Subject Entity individually or the Subject Entities in the aggregate to be or become the “beneficial owner” (as
defined in Rule 13d-3 under the 1934 Act), directly or indirectly, whether through acquisition, purchase, assignment, conveyance,
tender, tender offer, exchange, reduction in outstanding shares of Common Stock, merger, consolidation, business combination, reorganization,
recapitalization, spin-off, scheme of arrangement, reorganization, recapitalization or reclassification or otherwise in any manner
whatsoever, of either (x) at least 50% of the aggregate ordinary voting power represented by issued and outstanding Common Stock,
(y) at least 50% of the aggregate ordinary voting power represented by issued and outstanding Common Stock not held by all such
Subject Entities as of the date of this Warrant calculated as if any shares of Common Stock held by all such Subject Entities were
not outstanding, or (z) a percentage of the aggregate ordinary voting power represented by issued and outstanding shares of Common
Stock or other equity securities of the Company sufficient to allow such Subject Entities to effect a statutory short form merger
or other transaction requiring other shareholders of the Company to surrender their shares of Common Stock without approval of
the shareholders of the Company or (C) directly or indirectly, including through subsidiaries, Affiliates or otherwise, in one
or more related transactions, the issuance of or the entering into any other instrument or transaction structured in a manner to
circumvent, or that circumvents, the intent of this definition in which case this definition shall be construed and implemented
in a manner otherwise than in strict conformity with the terms of this definition to the extent necessary to correct this definition
or any portion of this definition which may be defective or inconsistent with the intended treatment of such instrument or transaction.

 

    	 	27	 

     

    

 

(t)          “Group”
means a “group” as that term is used in Section 13(d) of the 1934 Act and as defined in Rule 13d-5 thereunder.

 

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

 

(v)          “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.

 

(w)         “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.

 

(x)         “Principal
Market” means the Nasdaq Capital Market.

 

(y)         
 “SEC” means the United States Securities and Exchange Commission or the successor thereto.

 

(z)    
    “Subject Entity” means any Person, Persons or Group or any Affiliate or associate of any
such Person, Persons or Group.

 

(aa)       “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.

 

    	 	28	 

     

    

 

(bb)      “Trading
Day” means, as applicable, (x) with respect to all price or trading volume 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 or trading volume 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.

 

(cc)      “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 “HP” function (set to weighted average) 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 such security on such date on any of the foregoing bases, the VWAP of such security on such date shall be the fair market value
as mutually determined by the Company and the Holder. If the Company and the Holder 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, recapitalization or other similar transaction
during such period.

 

[signature page follows]

 

    	 	29	 

     

    

 

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.

 

	 	EKSO BIONICS HOLDINGS Inc. 
	 	 
	 	By:	       
	 	 	Name:
	 	 	Title:

 

Acknowledged and Agreed:

 

	 	VSTOCK TRANSFER, LLC
	 	 
	 	By:	         
	 	 	Name:
	 	 	Title:

 

    	 	30	 

     

    

 

EXHIBIT A

 

EXERCISE
NOTICE

 

TO BE EXECUTED
BY THE REGISTERED HOLDER TO EXERCISE THIS

WARRANT TO PURCHASE COMMON STOCK

 

EKSO
BIONICS HOLDINGS Inc.

 

The undersigned holder
hereby elects to exercise the Warrant to Purchase Common Stock No. _______ (the “Warrant”) of Ekso Bionics
Holdings Inc., a Nevada corporation (the “Company”) as specified below. Capitalized terms used herein and not
otherwise defined shall have the respective meanings set forth in the Warrant.

 

1.           Form
of Exercise Price. The Holder intends that payment of the Aggregate Exercise Price shall be made as:

 

		 ̈	a “Cash Exercise” with respect to _________________
Warrant Shares; and/or

 

		 ̈	a “Cashless Exercise” with respect to _______________
Warrant Shares.

 

In the event that the
Holder has elected a Cashless Exercise with respect to some or all of the Warrant Shares to be issued pursuant hereto, the Holder
hereby represents and warrants that this Exercise Notice was executed by the Holder at __________ [a.m.][p.m.] on the date set
forth below.

 

2.           Payment
of Exercise Price. In the event that the Holder has elected a Cash Exercise with respect to some or all of the Warrant Shares
to be issued pursuant hereto, the Holder shall pay the Aggregate Exercise Price in the sum
of $___________________ to the Company in accordance with the terms of the Warrant.

 

3.           Maximum
Percentage Representation. Notwithstanding anything to the contrary contained herein, this Exercise Notice shall constitute
a representation by the Holder of the Warrant submitting this Exercise Notice that after giving effect to the exercise provided
for in this Exercise Notice, such Holder (together with its affiliates) will not have beneficial ownership (together with the beneficial
ownership of such Person’s affiliates) of a number of shares of Common Stock which exceeds the Maximum Percentage (as defined
in the Warrant) of the total outstanding shares of Common Stock of the Company as determined pursuant to the provisions of Section 1(f)
of the Warrant.

 

4.           Delivery
of Warrant Shares. The Company shall deliver to Holder, or its designee or agent as specified below, __________ shares
of Common Stock in accordance with the terms of the Warrant. Delivery shall be made to Holder, or
for its benefit, as follows:

 

 ̈          Check
here if requesting delivery as a certificate to the following name and to the following address:

 

    	 	31	 

     

    

 

	Issue to:	 
	 	 
	 	 

 

 ̈           Check
here if requesting delivery by Deposit/Withdrawal at Custodian as follows:

 

	DTC Participant:	 
	DTC Number:	 
	Account Number:	 

 

	Date: _____________  __, _____	 	 
	 	 	 
	 	 	 
	Name of Registered Holder	 	 

 

	By:	 	 	 
	 	Name:	 	 
	 	Title:	 	 

 

	 	Tax ID:	 	 

 

	 	Facsimile:	 	 

 

	 	E-mail Address:	 	 

 

 

    	 	32	 

     

    

 

EXHIBIT B

 

ACKNOWLEDGMENT

 

The
Company hereby acknowledges this Exercise Notice and hereby directs ______________ to issue the above indicated number
of shares of Common Stock in accordance with the Transfer Agent Instructions dated _________, 201_, from the Company and acknowledged
and agreed to by _______________.

 

	 	EKSO BIONICS HOLDINGS Inc. 
	 	 
	 	By:	              
	 	 	Name: 
	 	 	Title:

 

    	 	33Exhibit 10.1

 

STOCK PURCHASE AGREEMENT

 

By and Among

 

BCB BANCORP, INC.,

 

BCB COMMUNITY BANK

 

and

 

MFP Partners, L.P.

 

Dated as of

 

December 30, 2019

 

     

     

    

 

TABLE
OF CONTENTS

 

	 	Page
	 	 
	Article I DEFINITIONS	1
	1.1	Definitions	1
	Article II PURCHASE
    AND SALE	5
	2.1	Purchase; Delivery of Purchase Price	5
	2.2	Closing Date	5
	2.3	Closing	6
	Article III REPRESENTATIONS
    AND WARRANTIES	6
	3.1	Representations and Warranties of the Company and the Bank	6
	3.2	Representations and Warranties of the Purchaser	11
	Article IV OTHER
    AGREEMENTS OF THE PARTIES	12
	4.1	Further Assurances	12
	4.2	Effective Registration Statement	12
	4.3	Schedule 13G; NASDAQ Listing and Blue Sky	12
	4.4	Public Announcement	13
	Article V INDEMNIFICATION	13
	5.1	Indemnification Obligations	13
	5.2	Conduct of Indemnification Proceedings	14
	5.3	Limitations	14
	5.4	Survival	15
	Article VI MISCELLANEOUS	15
	6.1	Fees and Expenses	15
	6.2	Entire Agreement	15
	6.3	Notices	16
	6.4	Amendments; Waivers	16
	6.5	Construction; Interpretation	16
	6.6	Successors and Assigns	17
	6.7	No Third-Party Beneficiaries	17
	6.8	Governing Law	17
	6.9	Waiver of Jury Trial	18
	6.10	Counterparts	18
	6.11	Severability	18
	6.12	Replacement of Shares	18
	6.13	Remedies	19

 

    (i)

     

    

 

STOCK PURCHASE AGREEMENT

 

This Stock Purchase
Agreement (this “Agreement”) is dated as of December 30, 2019, by and among BCB Bancorp, Inc., a bank holding
company organized under the Laws of the State of New Jersey (the “Company”), BCB Community Bank, its wholly-owned
New Jersey-chartered commercial bank subsidiary (the “Bank”) and MFP Partners, L.P., a Delaware limited partnership
(the “Purchaser”).

 

RECITALS

 

A.       The
Company, the Bank and Purchaser desire to enter into this transaction for the Company to sell and Purchaser to purchase shares
of the Company’s common stock, no par value (the “Common Stock”) pursuant to a currently effective shelf
registration statement on Form S-3, which includes the Common Stock registered thereunder (Registration Number 333-219617) (the
“Registration Statement”), which Registration Statement has been declared effective in accordance with the Securities
Act of 1933, as amended (the “Securities Act”), by the United States Securities and Exchange Commission (the
“SEC”).

 

B.       Purchaser
wishes to purchase, and the Company wishes to sell, 1,020,408 shares of the Common Stock (the “Shares”), for
a price equal to $12.25 per Share (the “Purchase Price”), on the terms and subject to the conditions set forth
in this Agreement.

 

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

 

Article
I

DEFINITIONS

 

1.1             
Definitions.

 

In addition to the
terms defined elsewhere in this Agreement, for all purposes of this Agreement, the following terms shall have the meanings indicated
in this Section 1.1:

 

“Action”
means any action, suit, inquiry, notice of violation, proceeding (including any partial proceeding such as a deposition), examination,
or investigation.

 

“Affiliate”
means, with respect to any Person, any other Person that, directly or indirectly through one or more intermediaries, Controls,
is controlled by, or is under common control with such Person, as such terms are used in and construed pursuant to Rule 405 under
the Securities Act.

 

“Aggregate
Purchase Price” means the aggregate amount to be paid by Purchaser to the Company for all Purchased Shares, equal to
(i) the Purchased Shares multiplied by (ii) the Purchase Price.

 

“Agreement”
has the meaning ascribed to such term in the Preamble.

 

     

     

    

 

“Bank”
has the meaning set forth in the Preamble.

 

“BHCA”
means the Bank Holding Company Act of 1956, as amended.

 

“BHC Act Control”
has the meaning set forth in Section 3.1(j).

 

“Business
Day” means a day, other than a Saturday or Sunday, on which banks in New Jersey are open for the general transaction
of business.

 

“CIBC Act”
means the Change in Bank Control Act.

 

“Closing”
means the Closing of the purchase and sale of the Purchased Shares pursuant to this Agreement.

 

“Closing Date”
has the meaning set forth in Section 2.2.

 

“Code”
means the Internal Revenue Code of 1986, as amended, including the regulations and published interpretations thereunder.

 

“Common Stock”
has the meaning set forth in the Recitals.

 

“Company”
has the meaning set forth in the Preamble.

 

“Company Deliverables”
has the meaning set forth in Section 2.3(a).

 

“Company Party”
has the meaning set forth in Section 5.1(b).

 

“Company Reports”
has the meaning set forth in Section 3.1(g)(iii).

 

“Company SEC
Reports” has the meaning set forth in Section 3.1(g)(i).

 

“Company’s
Knowledge” means with respect to any statement made to the knowledge of the Company, that the statement is based upon
the respective actual knowledge of the Company’s chief executive officer, chief financial officer, or chief operating officer,
after reasonable investigation.

 

“Control”
(including the terms “controlling,” “controlled by” or “under common control with”) means the
possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether
through the ownership of voting securities, by contract, or otherwise for purposes of the BHCA or the CIBC Act.

 

“CRA”
has the meaning set forth in Section 3.1(h).

 

“Exchange
Act” means the Securities Exchange Act of 1934 any successor statute, and the rules and regulations promulgated thereunder.

 

“FDIC”
means the Federal Deposit Insurance Corporation.

 

“Federal Reserve”
means the Board of Governors of the Federal Reserve System.

 

    2

     

    

 

“GAAP”
means U.S. generally accepted accounting principles as applied by the Company.

 

“Governmental
Authority” means any federal, state, local or foreign court or governmental, regulatory, or administrative body or agency
or any self-regulatory agency, including the FDIC, the OOD, the Federal Reserve and the Office of Foreign Assets Control.

 

“Indebtedness”
of any Person means (a) all obligations of such Person for borrowed money or arising out of any extension of credit to or for the
account of that Person (including reimbursement or payment obligations with respect to surety bonds, letters of credit, bankers’
acceptances and similar instruments), for the deferred purchase price of property or other assets or services or arising under
conditional sale or other title retention agreements, other than trade payables arising in the ordinary course of business consistent
with past practice, (b) all obligations of such Person evidenced by bonds, debentures, notes and similar instruments, (c) all leases
of such Person capitalized in accordance with GAAP, (d) all obligations of such Person under sale-and-lease back transactions,
agreements to repurchase securities sold and other similar financing transactions, and (e) all obligations of the type referred
to in clauses (a) – (e) of any Person for the payment of which such Person is responsible or liable, directly or indirectly,
as obligor, guarantor, surety or otherwise, including guarantees of such obligations.

 

“Indemnified
Party” means either any Purchaser Party seeking indemnification pursuant to Section 5.1(a) or any Company Party seeking
indemnification pursuant to Section 5.1(b).

 

“Indemnifying
Party” means the party from whom an Indemnified Party is seeking indemnification pursuant to Section 5.1.

 

“Indemnitee-Related
Investor Entities” has the meaning set forth in Section 5.1(d).

 

“Jointly Indemnifiable
Investor Claims” has the meaning set forth in Section 5.1(d).

 

“Law”
means any federal, state, county, municipal, local or foreign ordinance, permit, concession, grant, franchise, law, statute, code,
rule or regulation or any judgment, ruling, order, writ, injunction or decree promulgated by any Governmental Authority.

 

“Lien”
means any lien, charge, claim, encumbrance, security interest, right of first refusal, preemptive right, mortgage, deed of trust,
pledge, conditional sale agreement, restriction on transfer or other restrictions of any kind.

 

“Losses”
has the meaning set forth in Section 5.1(a).

 

“Material
Adverse Effect” means any circumstance, event, change, development or effect on the Company or the Bank that,
individually or in the aggregate (1) is or would reasonably be expected to be material and adverse to the financial position,
results of operations, business, assets or liabilities, management or condition (financial or otherwise) of the Company and
its Subsidiaries taken as a whole; provided, however, that in determining whether a Material Adverse Effect has
occurred pursuant to this clause (1), there shall be excluded any circumstance, event, change, development or effect to the
extent resulting from the following: (A) actions or omissions of the Company or any Subsidiary expressly required or
contemplated by the terms of this Agreement, (B) changes after the date hereof in general economic conditions in the United
States, including financial market volatility or downturn, (C) changes after the date hereof affecting generally the
industries or markets in which the Company and the Subsidiaries operate, (D) acts of war, sabotage or terrorism, military
actions or the escalation thereof, or outbreak of hostilities, and (E) any changes after the date hereof in applicable law or
accounting rules or principles, including changes in GAAP, except, with respect to clauses (B), (C), (D), and (E), to the
extent that any such circumstance, event, change, development or effect has a disproportionate effect on the Company and the
Subsidiaries, taken as a whole, relative to other banks, savings associations and their holding companies generally; or (2)
would or would reasonably be expected to materially impair the ability of either Purchaser or the Company and the Bank,
respectively, to perform their respective obligations under this Agreement and the other Transaction Documents or otherwise
materially threaten or materially impede the consummation of the transactions contemplated by this Agreement and the other
Transaction Documents.

 

    3

     

    

 

“Money Laundering
Laws” has the meaning set forth in Section 3.1(h).

 

“New York
Courts” means the state courts of the State of New York, or the federal courts sitting in the State of New York.

 

“OOD”
means the New Jersey Department of Banking & Insurance, Division of Banking, Office of Depositories.

 

“Organizational
Documents” means (a) with respect to any corporation, the corporation’s certificate of incorporation and bylaws
or comparable organizational documents, (b) with respect to any limited liability company, the company’s certificate of organization
or formation and operating agreement or comparable organizational documents, and (c) with respect to any limited partnership, the
partnership’s certificate of formation or organization and limited partnership agreement or comparable organizational documents.

 

“Permits”
has the meaning set forth in Section 3.1(h).

 

“Person”
means an individual, corporation, partnership, limited liability company, trust, business trust, association, joint stock company,
joint venture, sole proprietorship, unincorporated organization, governmental authority, or any other form of entity not specifically
listed herein.

 

“Post-Closing
Filings” means those post-closing filings to be made by the Company pursuant to Section 4.3.

 

“Preferred
Stock” means the Company’s preferred stock, $0.01 par value.

 

“Proceeding”
means an action, claim, suit, investigation, or proceeding (including, without limitation, an investigation or partial proceeding,
such as a deposition), whether commenced or threatened.

 

“Prospectus
Supplement” has the meaning set forth in Section 3.1(m).

 

“Purchase
Price” has the meaning set forth in the Recitals.

 

“Purchased
Shares” means 1,020,408 Shares to be purchased hereunder by Purchaser.

 

    4

     

    

 

“Purchaser”
has the meaning set forth in the Preamble.

 

“Purchaser
Deliverables” has the meaning set forth in Section 2.3(b).

 

“Purchaser
Party” has the meaning set forth in Section 5.1(a).

 

“Registration
Statement” has the meaning set forth in the Recitals.

 

“Regulatory
Agreement” has the meaning set forth in Section 3.1(i).

 

“SEC”
has the meaning set forth in the Recitals.

 

“Securities
Act” has the meaning set forth in the Recitals.

 

“Shares”
has the meaning set forth in the Recitals.

 

“Subsidiary”
or “Subsidiaries” means any entity in which the Company or the Bank, directly or indirectly, owns 50% or more
of the outstanding capital stock or otherwise has Control over such entity. The Bank shall be deemed a Subsidiary of the Company
for all purposes of this Agreement.

 

“Transaction
Documents” means this Agreement and Exhibits attached hereto, and any other documents or agreements executed by the Company
or Purchaser in connection with the transactions contemplated hereunder, including, without limitation, the Company Deliverables.

 

“Transfer
Agent” means Computershare, or any successor transfer agent and registrar for the Company.

 

Article
II

PURCHASE AND SALE

 

2.1             
Purchase; Delivery of Purchase Price.

 

(a)              
Subject to the terms and conditions set forth in this Agreement, at the Closing, the Company shall issue and sell
to Purchaser, and Purchaser shall purchase from the Company, the Purchased Shares at a per share price equal to the Purchase Price.

 

(b)              
Purchaser shall pay to the Company by wire transfer of immediately available funds the Purchase Price for all Purchased
Shares in accordance with the payment instructions provided by the Company to Purchaser prior to the date hereof.

 

(c)              
The Company shall cause DTC and its Transfer Agent to register the Purchased Shares in Purchaser’s name upon
receipt of the Aggregate Purchase Price.

 

2.2             
Closing Date.

 

Subject to the
terms of this Agreement, the Closing shall take place on the date hereof or on such other date as may be agreed by the
parties hereto (the date on which the Closing occurs, the “Closing Date”), at the office of Holland &
Knight LLP, at 31 W. 52nd Street, New York, NY 10019 at 9:00 a.m. (eastern) or via electronic communication.

 

    5

     

    

 

2.3             
Closing.

 

(a)              
Unless otherwise indicated, at or prior to the Closing, the Company shall issue, deliver, or cause to be delivered
to Purchaser (unless otherwise indicated) the following (the “Company Deliverables”):

 

(i)                
evidence of filing of the prospectus supplement with the SEC, pursuant to which the Shares are offered for sale in
connection with the Registration Statement;

 

(ii)             
the Purchased Shares, in book-entry form via DTC, registered in the name of Purchaser;

 

(iii)           
A legal opinion of Luse Gorman, PC, Company counsel, dated as of the Closing Date addressed to Purchaser and the
Company;

 

(iv)            
a certificate of the Secretary of the Company and the Bank (collectively, the “Secretary’s Certificate”),
dated as of the Closing Date, (a) certifying the resolutions adopted by the board of directors of the Company and the Bank or a
duly authorized committee thereof approving the transactions contemplated by this Agreement and the other Transaction Documents
and the issuance of the Purchased Shares pursuant to this Agreement and the other Transaction Documents, (b) certifying the approval,
adoption and filing of the current versions of the Organizational Documents of the Company and the Bank, and (c) certifying as
to the signatures and authority of persons signing the Transaction Documents and related documents on behalf of the Company and
the Bank; and

 

(v)              
a certificate of good standing or existence for the Company from the New Jersey Secretary of State, as of a recent
date.

 

(b)              
Unless otherwise indicated, at or prior to the Closing, Purchaser shall deliver or cause to be delivered to the Company
the following (the “Purchaser Deliverables”):

 

(i)                
the Aggregate Purchase Price for the Purchased Shares, in U.S. dollars and in immediately available funds, in accordance
with Section 2.1(b).

 

Article
III

REPRESENTATIONS AND WARRANTIES

 

3.1             
Representations and Warranties of the Company and the Bank.

 

The Company and the
Bank hereby represent and warrant as of the Closing Date (except for the representations and warranties that speak as of a specific
date, which shall be made as of such date), and qualified as set forth on the Disclosure Schedules attached to this Agreement,
to Purchaser as follows:

 

(a)              
Existence; Good Standing; Corporate Authority. The Company is a corporation, duly organized, validly existing
and in good standing under the Laws of the State of New Jersey, and is qualified to do business and is in good standing under the
Laws of any State of the United States in which the character of the properties owned or leased by it therein or in which the transaction
of its businesses makes such qualification necessary, except where the failure to be so qualified would not have a Material Adverse
Effect. The Company is duly registered as a bank holding company under the BHCA. The Bank is duly organized and validly existing
as a New Jersey chartered commercial bank and its deposit accounts are insured by the FDIC pursuant to the Federal Deposit Insurance
Act and the rules and regulations issued by the FDIC thereunder, and all premiums and assessments required to be paid in connection
therewith have been paid when due. The Secretary’s Certificate delivered by the Company and the Bank to Purchaser pursuant
to Section 2.3(a)(iv) represents true, complete and correct copies of their respective Organizational Documents, each of which
has been duly authorized and approved in accordance with applicable Law and their respective Organizational Documents and is in
full force and effect as of the date hereof.

 

    6

     

    

 

(b)              
Authorization, Validity and Effect of Agreements. The Company and the Bank have the requisite corporate or
other power and authority to execute and deliver this Agreement and all other Transaction Documents and to consummate the transactions
contemplated hereby and thereby. The execution and delivery of this Agreement and all other Transaction Documents has been duly
approved by the Company’s and the Bank’s respective boards of directors and the consummation of the transactions contemplated
hereby and by the Transaction Documents has been duly authorized by all requisite corporate and other action. No other corporate
proceedings are necessary for the execution and delivery by the Company and the Bank of this Agreement and the other Transaction
Documents, the performance by the Company and the Bank of their obligations hereunder and thereunder or the consummation by the
Company of the transactions contemplated hereby and thereby. This Agreement constitutes, and all other Transaction Documents (when
executed and delivered by the Company and the Bank) will constitute, the valid and legally binding obligations of the Company and
the Bank, enforceable against each in accordance with their respective terms, subject to applicable bankruptcy, insolvency, or
other similar laws relating to creditors’ rights and general principles of equity (regardless of whether enforcement is sought
in a proceeding at law or in equity).

 

(c)               Capitalization.
As of the date hereof, the authorized capital stock of the Company consists of 40,000,000 shares of Common Stock and
10,000,000 shares of Preferred Stock. As of the date hereof, there are outstanding 16,478,735 shares of Common Stock, and
8,340 shares of Preferred Stock. As of the date hereof, there are 1,200,975 outstanding options to purchase Common Stock, and
114,939 outstanding shares of restricted stock of the Company, of which 33,661 are vested while the rest are unvested. All of
the issued and outstanding shares of Common Stock have been duly authorized and validly issued and are fully paid,
nonassessable and free of preemptive and registration rights. Neither the Company nor any of its officers, directors,
or employees is a party to any right of first refusal, right of first offer, proxy, voting agreement, voting trust, or
shareholders or similar agreements with respect to the sale or voting of any securities of the Company. Except as set forth
in the Company SEC Reports, the Company does not have and is not bound by any outstanding subscriptions, options, warrants,
repurchase rights, commitments or agreements of any character calling for the purchase or issuance of, or securities or
rights convertible into or exchangeable or exercisable for, any shares of Common Stock or Preferred Stock or any other equity
securities of the Company or any securities representing the right to purchase or otherwise receive any shares of capital
stock of the Company (including any rights plan or agreement). All shares of the outstanding capital stock (or equivalent
interests of entities other than corporations) of each of the Subsidiaries are owned free and clear of any Liens directly by
the Company or a Subsidiary, and are duly authorized and validly issued, fully paid and nonassessable. No equity security of
any Subsidiary is or may be required to be issued by reason of any option, warrant, preemptive right or commitment relating
to, or security or right convertible into, equity securities of such Subsidiary, and there are no contracts, agreements or
commitments by which any of the Company or any Subsidiary is bound to issue additional equity securities, or any option,
warrant or right to purchase or acquire any additional equity securities of any Subsidiary.

 

(d)              
Issuance of Shares. The Shares to be issued pursuant to this Agreement have been duly authorized by all necessary
corporate action of the Company, and will be issued in compliance with all applicable federal and state securities Laws. When issued
and sold against receipt of the consideration therefor as provided in this Agreement, such Shares will be duly authorized, validly
issued, fully paid and nonassessable, free and clear of any Liens, and such issuance will not subject the holders thereof to personal
liability and will not be subject to preemptive rights of any other stockholder of the Company. The delivery of the Purchased Shares
to Purchaser as herein contemplated will vest in Purchaser good and valid title to the Purchased Shares.

 

(e)              
Compliance with Other Instruments; Non-Contravention. Neither the execution, delivery and performance by the
Company and the Bank of this Agreement or the other Transaction Documents, nor the consummation of the transactions contemplated
hereby or thereby in accordance with the terms hereof or thereof, will: (i) violate or conflict with or result in a breach of any
provisions of such entity’s Organizational Documents; (ii) conflict with, result in a violation or breach by the Company
or any Subsidiary of, constitute (with or without due notice or lapse of time or both) a default, or give rise to any right of
termination, cancellation, payment or acceleration under, or result in the creation of any Lien upon, any of the assets, properties
or rights of the Company or the Subsidiaries, under any of the terms, conditions or provisions of any note, bond, mortgage, indenture,
contract, license, franchise, permit, agreement, arrangement, lease, franchise agreement or other instrument or obligation to which
the Company or any Subsidiary is a party, or by which the Company or the Subsidiaries or any of their properties or assets may
be bound; or (iii) violate any Law or any judgment, ruling, order, writ, injunction, or decree applicable to the Company or any
Subsidiary; except in the case of clauses (ii) and (iii) where any such foregoing conflict, violation, or change would not have
a Material Adverse Effect.

 

(f)               
Consents and Approvals. Other than the federal securities Laws or blue sky Laws of the various states, no
notice to, registration, declaration or filing with, exemption or review by, or authorization, order, consent or approval of, any
Governmental Authority, or expiration or termination of any statutory waiting period, is necessary for the consummation by the
Company of the transactions contemplated by this Agreement and the other Transaction Documents.

 

    7

     

    

 

(g)              
Reports; Financial Statements.

 

(i)                 As
of the date hereof current public information for the Company is available (the “Company SEC
Reports”), which are all the forms, reports and documents filed by Company with the SEC from January 1, 2017 to the
date of this Agreement. As of their respective dates, the Company’s SEC Reports (A) were prepared in accordance and
complied in all material respects with the requirements of the Securities Act or the Exchange Act, as the case may be, and
the rules and regulations of the SEC thereunder applicable to such Company SEC Reports; and (B) did not at the time they were
filed (and if amended or superseded by a filing prior to the date of this Agreement then on the date of such filing and as so
amended or superseded) contain any untrue statement of a material fact or omit to state a material fact required to be stated
therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not
misleading.

 

(ii)             
Each set of financial statements (including, in each case, any related notes thereto) contained in the Company SEC
Reports comply as to form in all material respects with the published rules and regulations of the SEC with respect thereto, were
prepared in accordance with GAAP applied on a consistent basis throughout the periods involved (except as may be indicated in the
notes thereto or, in the case of unaudited statements, do not contain footnotes as permitted by Form 10-Q promulgated under the
Exchange Act) and each fairly presents in all material respects the financial position of Company at the respective dates thereof
and the results of its operations and cash flows for the periods indicated.

 

(iii)           
Since January 1, 2017, the Company and each Subsidiary have filed all reports, registrations, documents, filings,
statements and submissions together with any required amendments thereto, that it was required to file with any Governmental Authority
(the foregoing, collectively, the “Company Reports”) and have paid all fees and assessments due and payable
in connection therewith. As of their respective filing dates, the Company Reports complied in all material respects with all statutes
and applicable rules and regulations of the applicable Governmental Authorities, as the case may be. As of the date of this Agreement,
there are no outstanding comments from any Governmental Authority with respect to the Company Reports. The Company Reports, including
the documents incorporated by reference in each of them, each contained all of the information required to be included in it and,
when it was filed and as of the date of each Company Report filed with or furnished to any Governmental Authority, the Company
Reports did not, as of its date or if amended prior to the date of this Agreement, as of the date of such amendment, contain an
untrue statement of a material fact or omit to state a material fact necessary in order to make the statements made in it not misleading.

 

(h)              
Compliance with Applicable Laws.

 

(i)                
The Company and each Subsidiary, in the conduct of their respective businesses, are in compliance with all, and the
condition and use of their respective properties does not violate or infringe any, applicable Laws, except where the failure to
be in compliance with such Laws or any such violation or infringement would not reasonably be expected to have a Material Adverse
Effect.

 

(ii)              The
Company and each Subsidiary are, and have at all times, conducted themselves in compliance in all material respects with the
money laundering statutes of applicable jurisdictions, the rules and regulations thereunder and any related or similar rules,
regulations or guidelines, issued, administered or enforced by any applicable Governmental Authority (collectively,
the “Money Laundering Laws”) and no Proceeding by or before any court or Governmental Authority or any
arbitrator involving the Company and/or any Subsidiary with respect to the Money Laundering Laws is pending or, to the
Company’s Knowledge, threatened.

 

    8

     

    

 

(iii)           
None of the Company or any of its Subsidiaries, or, to the Knowledge of the Company, any of their respective directors,
officers, agents, employees or any other persons acting on their behalf (i) has violated the Foreign Corrupt Practices Act, 15
U.S.C. § 78dd-1 et seq., as amended, (ii) has made or provided, or caused to be made or provided, directly or
indirectly, any payment or thing of value to a foreign official, foreign political party, candidate for office or any other person
knowing that the person will pay or offer to pay the foreign official, party or candidate, for the purpose of influencing a decision,
inducing an official to violate their lawful duty, securing any improper advantage, or inducing a foreign official to use their
influence to affect a governmental decision, (iii) has paid, accepted or received any unlawful contributions, payments, expenditures
or gifts, (iv) has violated or operated in noncompliance with any export restrictions, money laundering law, anti-terrorism law
or regulation, anti-boycott regulations or embargo regulations, or (v) is currently subject to any United States sanctions administered
by the Office of Foreign Assets Control of the United States Treasury Department.

 

(iv)            
The Company and each Subsidiary have no knowledge of any facts and circumstances, and have no reason to believe that
any facts or circumstances exist, that would cause the Bank: (i) to be deemed not to be in satisfactory compliance with the Community
Reinvestment Act of 1977, as amended (the “CRA”), and the regulations promulgated thereunder or to be assigned
a CRA rating by federal or state banking regulators of lower than “satisfactory”; (ii) to be deemed to be operating
in violation, in any material respect, of the Bank Secrecy Act of 1970 (or otherwise known as the “Currency and Foreign Transactions
Reporting Act”), the USA Patriot Act (or otherwise known as “Uniting and Strengthening America by Providing Appropriate
Tools Required to Intercept and Obstruct Terrorism Act of 2001”), any order issued with respect to anti-money laundering
by OFAC or any other anti-money laundering statute, rule or regulation; or (iii) to be deemed not to be in satisfactory compliance,
in any material respect, with all applicable privacy of customer information requirements contained in any federal and state privacy
Laws as well as the provisions of all information security programs adopted by the Bank.

 

(v)              
The Company and each Subsidiary have all permits, licenses, franchises, authorizations, orders, and approvals of,
and have made all filings, applications, and registrations with, Governmental Authorities that are required in order to permit
each such entity to own or lease its properties and assets and to carry on its business as presently conducted and that are material
to the business of the Company or such Subsidiary (the “Permits”); and all such Permits are in full force and
effect, and all such filings, applications and registrations are current, and, to the Company’s Knowledge, no suspension
or cancellation of any of them is threatened.

 

(i)                 Regulatory
Matters. Neither the Company nor any Subsidiary is subject to any cease-and-desist or other similar order or enforcement
action issued by, or is a party to any written agreement, consent agreement or memorandum of understanding with, or is a
party to any commitment letter or similar undertaking to, or is subject to any capital directive by, or has adopted any board
resolutions at the request of, any Governmental Authority that currently restricts the conduct of its business or
that relates to its capital adequacy, its liquidity and funding policies and practices, its ability to pay dividends, its
credit, risk management or compliance policies, its internal controls, its management, or its operations or business (each
item in this sentence, a “Regulatory Agreement”), nor has the Company or any Subsidiary been advised that
any Governmental Authority is considering issuing, initiating, ordering, or requesting any such Regulatory Agreement. As
of December 31, 2018, the Bank met or exceeded the standards necessary to be considered “well
capitalized” under the FDIC’s regulatory framework for prompt corrective action, and to the Knowledge of the
Company continues to meet or exceed such standards as of the date hereof.

 

    9

     

    

 

 

(j)                
Common Control. The Company is not and, to the Company’s and Bank’s Knowledge after giving effect
to the offering and sale of the Purchased Shares and assuming the accuracy of the representations and warranties of Purchaser in
this Agreement, will not be under the control (as defined in the BHC Act and the Federal Reserve’s Regulation Y (12 CFR Part
225) (“BHC Act Control”) of any company (as defined in the BHC Act and the Federal Reserve’s Regulation
Y). The Company is not in BHC Act Control of any federally insured depository institution other than the Bank. The Bank is not
under the BHC Act Control of any company (as defined in the BHC Act and the Federal Reserve’s Regulation Y) other than Company.
Other than the Company’s ownership of the Bank, neither the Company nor the Bank controls, in the aggregate, more than five
percent of the outstanding voting class, directly or indirectly, of any federally insured depository institution. The Bank is not
subject to the liability of any commonly controlled depository institution pursuant to Section 5(e) of the Federal Deposit Insurance
Act (12 U.S.C. § 1815(e)).

 

(k)              
Investment Company. The Company is not an “investment company” as defined under the Investment
Company Act of 1940, as amended, and the Company does not sponsor any Person that is such an investment company.

 

(l)                
Transactions With Affiliates and Employees. Except as disclosed on the Company SEC Reports, none of the officers
or directors of the Company and, to the Company’s Knowledge, none of the employees of the Company, is presently a party to
any transaction with the Company or to a presently contemplated transaction (other than for services as employees, officers and
directors or loans made in compliance with Federal Reserve Regulation O in the ordinary course of the Bank’s business) that
would be required to be disclosed pursuant to Item 404 of Regulation S-K promulgated under the Securities Act.

 

(m)            
Registration Statement. The sale of the Shares is being made pursuant to a currently effective shelf registration
statement on Form S-3, which includes the Shares registered thereunder (Registration Number 333-219617), which Registration Statement
has been declared effective in accordance with the Securities Act by the SEC. The Company has filed a prospectus supplement to
the Registration Statement covering the sale of the Shares (the “Prospectus Supplement”) in accordance with
applicable Law and the terms of this Agreement. The Registration Statement and Prospectus Supplement are true and correct in all
material respects and do not contain any untrue statement of a material fact or omit to state any material fact necessary in order
to make the statements made therein, in light of the circumstances under which they were made, not misleading.

 

(n)              
Application of Takeover Protections; Rights Agreements. The Company has not adopted any stockholder rights
plan or similar arrangement relating to accumulations of beneficial ownership of Common Stock or a change in control of the Company.

 

    10

     

    

 

(o)              
Listing and Maintenance Requirements. The Company is in compliance in all material respects with the listing
and maintenance requirements for continued quotation of the Common Stock on the NASDAQ. After issuance of the Purchased Shares
to Purchaser and after the Company makes the Post-Closing Filings, the Purchased Shares will be listed on the NASDAQ.

 

(p)              
Off Balance Sheet Arrangements. There is no transaction, arrangement, or other relationship between the Company
(or any Subsidiary) and an unconsolidated or other off balance sheet entity that is required to be disclosed by the Company in
the Company Reports and is not so disclosed.

 

(q)              
Nonperforming Assets. The Company believes that the amount of reserves and allowances for loan and lease losses
and other nonperforming assets established on the Company’s financial statements is adequate under all of the facts and circumstances
Known to the Company.

 

(r)               
No Brokers. The Company has not employed any broker or finder or incurred any liability for any financial
advisory fees, brokerage fees, commissions or finder’s fees, and no broker or finder has acted directly or indirectly for
the Company in connection with this Agreement, the other Transaction Documents or the transactions contemplated herein and therein.

 

(s)               
No Misleading Statements. The representations and warranties of the Company and the Bank contained in this
Agreement, and the disclosures set forth in the Exhibits and Schedules hereto and the other Transaction Documents do not include
any untrue statement of a material fact or omit to state any material fact necessary to make any statements made, in light of the
circumstances under which they were made, not misleading.

 

3.2             
Representations and Warranties of the Purchaser.

 

Purchaser hereby represents
and warrants as of the Closing Date to the Company and the Bank as follows:

 

(a)              
Organization; Authority. Purchaser is duly organized, validly existing, and in good standing under the Laws
of the jurisdiction of the State of Delaware with the requisite limited partnership power and authority to enter into and to consummate
the transactions contemplated by this Agreement and the other Transaction Documents and otherwise to carry out its obligations
hereunder and thereunder. The execution, delivery, and performance by Purchaser of the Transaction Documents to which it is a party
and the transactions contemplated by this Agreement and the other Transaction Documents have been duly authorized by all necessary
action on the part of Purchaser. Each of the Transaction Documents to which it is a party has been duly executed by Purchaser,
and when delivered by Purchaser in accordance with the terms hereof and thereof, will constitute the valid and legally binding
obligation of Purchaser, enforceable against it in accordance with its terms, except as such enforceability may be limited by applicable
bankruptcy, insolvency, reorganization, moratorium, liquidation, or similar laws relating to, or affecting generally the enforcement
of, creditors’ rights and remedies or by other equitable principles of general application.

 

    11

     

    

 

(b)              
No Conflicts. The execution, delivery, and performance by Purchaser of this Agreement and the other Transaction
Documents and the consummation by Purchaser of the transactions contemplated hereby and thereby will not (i) result in a violation
of the Organizational Documents of Purchaser, (ii) conflict with, or constitute a default (or an event which with notice or lapse
of time or both would become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation
of, any agreement, indenture, or instrument to which Purchaser is a party, or (iii) result in a violation of any Law, order, judgment,
or decree applicable to Purchaser, except in the case of clauses (ii) and (iii) above, for such conflicts, defaults, rights, or
violations which would not, individually or in the aggregate, reasonably be expected to have a material adverse effect on the
ability of Purchaser to perform its obligations hereunder.

 

(c)              
Brokers and Finders. Neither Purchaser, nor its Affiliates nor any of their respective officers or directors
has employed any broker or finder or incurred any liability for any financial advisory fees, brokerage fees, commissions or finder’s
fees, and no broker or finder has acted directly or indirectly for Purchaser in connection with this Agreement or the transactions
contemplated hereby.

 

(d)              
Independent Investment Decision. Purchaser has independently evaluated the merits of its decision to purchase
Shares pursuant to the Transaction Documents, and Purchaser confirms that it has not relied on the advice of the Company (or any
of its agents, counsel, or Affiliates) in making such decision; provided that the foregoing shall in no way limit Purchaser’s
right to rely on the truth, accuracy and completeness of the representations and warranties of the Company and the Bank made herein.

 

Article
IV

OTHER AGREEMENTS OF THE PARTIES

 

4.1             
Further Assurances.

 

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

 

4.2             
Effective Registration Statement.

 

The Company covenants
that the sale of the Shares is being made pursuant to a currently effective shelf registration statement on Form S-3, which includes
the Common Stock registered thereunder (Registration Number 333-219617), which Registration Statement has been declared effective
in accordance with the Securities Act by the SEC. The Company has filed the Prospectus Supplement to the Registration Statement
covering the sale of the Shares in accordance with applicable Law and the terms of the Agreement.

 

4.3             
Schedule 13G; NASDAQ Listing and Blue Sky.

 

Purchaser agrees to
timely file Schedule 13G with respect to the Purchased Shares as required under applicable Law. The Company shall make all filings
and reports relating to the offer and sale of the Shares required (i) to ensure that, upon issuance of the Purchased Shares, such
Shares are listed on NASDAQ, and (ii) under applicable securities or blue sky laws of the states of the United States following
the Closing Date (collectively, the “Post-Closing Filings”).

 

    12

     

    

 

4.4             
Public Announcement.

 

The parties shall discuss
any required public disclosure of this Agreement and the transactions contemplated hereby with each other in good faith prior to
the making of such public announcement or other disclosure.

 

Article
V

INDEMNIFICATION

 

5.1             
Indemnification Obligations.

 

(a)              
Indemnification by the Company. The Company will indemnify and hold Purchaser and its directors, officers,
stockholders, members, partners, employees, agents and investment advisors (and any other Person with a functionally equivalent
role of a Person holding such titles notwithstanding a lack of such title or any other title) (each, a “Purchaser
Party”) harmless from any and all losses, liabilities, obligations, claims, contingencies, damages, costs
and expenses, including all judgments, amounts paid in settlements, court costs and reasonable attorneys’ fees and costs
of investigation (collectively, “Losses”, provided, however, that Losses shall not include punitive,
special or consequential damages , except to the extent of any out-of-pocket Losses actually incurred by any such Purchaser Party
as a result of a third party Proceeding) that any such Purchaser Party actually incurs (1)(A) as a result of or in connection with
the inaccuracy or breach of any representation or warranty made by the Company in this Agreement or any certificate or other Transaction
Document delivered pursuant hereto (without giving effect to any limitations or qualification as to “materiality” or
Material Adverse Effect set forth in any such representation or warranty) or (B) as a result of or in connection with any breach
or failure by the Company to perform any of their covenants or agreements contained in this Agreement; and (2) as a result or in
connection with any Proceeding which involves Purchaser or is otherwise instituted against Purchaser in any capacity, by any stockholder
of the Company or any other Person, relating to this Agreement (including the matters set forth on Schedule 5.1(a)) or the
other Transaction Documents or the transactions contemplated hereby or thereby.

 

(b)              
Indemnification by Purchaser. Purchaser will indemnify and hold the Company and the Bank and their respective
directors, officers, stockholders, members, partners, employees, agents and investment advisors (and any other Person with a functionally
equivalent role of a Person holding such titles notwithstanding a lack of such title or any other title) (each, a “Company
Party”) harmless from any and all Losses that any such Company Party actually incurs (x) as a result of
or in connection with the inaccuracy or breach of any representation or warranty made by Purchaser in this Agreement or any certificate
or other Transaction Document delivered pursuant hereto (without giving effect to any limitations or qualification as to “materiality”
or similar qualification set forth in any such representation or warranty) or (y) as a result of or in connection with any breach
or failure by Purchaser to perform any of its covenants or agreements contained in this Agreement.

 

    13

     

    

 

5.2             
Conduct of Indemnification Proceedings.

 

Promptly after receipt
by any Indemnified Party of notice of any demand, claim or circumstances which would or might give rise to a claim or the commencement
of any Action in respect of which indemnity may be sought pursuant to Section 5.1, such Indemnified Party shall promptly notify
the Indemnifying Party in writing and the Indemnifying Party shall assume the defense thereof, including the employment of counsel
reasonably satisfactory to such Indemnified Party, and shall assume the payment of all fees and expenses; provided,
however, that the failure of any Indemnified Party so to notify the Indemnifying Party shall not relieve the Indemnifying
Party of its obligations hereunder except to the extent that such Indemnifying Party is materially and adversely prejudiced by
such failure to notify. In any such proceeding, any Indemnified Party shall have the right to retain its own counsel, but the fees
and expenses of such counsel shall be at the expense of such Indemnified Party unless: (i) the Indemnifying Party shall have failed
promptly to assume the defense of such proceeding; or (ii) in the reasonable judgment of counsel to such Indemnified Party, representation
of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. The Indemnifying
Party shall not be liable for any settlement of any proceeding effected without its written consent, which consent shall not be
unreasonably withheld, delayed or conditioned. Without the prior written consent of the Indemnified Party, the Indemnifying Party
shall not effect any settlement of any pending or threatened Action in respect of which any Indemnified Party is or could have
been a party and indemnity could have been sought hereunder by such Indemnified Party, unless (1) such settlement or judgment does
not involve any finding or admission of any violation of Law or admission of any wrongdoing by such Indemnified Party and (2) such
judgment or settlement includes an unconditional release of such Indemnified Party from all liability arising out of such Action.

 

5.3             
Limitations.

 

(a)              
Indemnification Threshold. Except as provided otherwise in Section 5.3(c), the Company will not be required
to indemnify a Purchaser Party for Losses that otherwise are indemnifiable under Section 5.1(a) until the total of all Losses under
Section 5.1(a) incurred by the Purchaser Parties exceeds $100,000, and after which and subject to Section 5.1(b), the Company shall
be obligated for all of the Purchaser Parties’ Losses for which the Purchaser Parties are otherwise entitled to indemnification
under Section 5.1(a).

 

(b)              
Maximum. Except as provided otherwise in Section 5.3(c), the maximum aggregate liability of the Company for
all Losses under Section 5.1(a) is the Aggregate Purchase Price.

 

(c)              
Exception. The provisions of Section 5.3(a) and 5.3(b) do not apply to indemnification claims arising from,
related to, or involving fraud by the Company.

 

    14

     

    

 

(d)              
Jointly Indemnifiable Claims. Given that a Purchaser Party may be entitled to indemnification (a “Jointly
Indemnifiable Investor Claim”) from both the Company, pursuant to this Agreement, and from any other Person, whether
pursuant to applicable Law, any indemnification agreement, the organizational documents of such Person or otherwise (the “Indemnitee-Related
Investor Entities”), the Company acknowledges and agrees that the Company shall be fully and primarily responsible for
the payment to the Purchaser Party in respect of indemnification in connection with any such Jointly Indemnifiable Investor Claim,
pursuant to and in accordance with the terms of this Agreement, irrespective of any right of recovery the Purchaser Party may
have from the Indemnitee-Related Investor Entities. Under no circumstance shall the Company be entitled to any right of subrogation
or contribution by the Indemnitee-Related Investor Entities and no right of recovery the Purchaser Party may have from the Indemnitee-Related
Investor Entities shall reduce or otherwise alter the rights of the Purchaser Party or the obligations of the Company hereunder.
In the event that any of the Indemnitee-Related Investor Entities shall make any payment to the Purchaser Party in respect of
indemnification with respect to any Jointly Indemnifiable Investor Claim, the Indemnitee-Related Investor Entity making such payment
shall be subrogated to the extent of such payment to all of the rights of recovery of the Purchaser Party against the Company,
and the Purchaser Party shall execute all papers reasonably required and shall do all things that may be reasonably necessary
to secure such rights, including the execution of such documents as may be necessary to enable the Indemnitee-Related Investor
Entities effectively to bring suit to enforce such rights.

 

5.4             
Survival.

 

The representations
and warranties of the parties contained in this Agreement or any certificate or instrument delivered pursuant hereto shall survive
until the first anniversary of the Closing Date. Each of the covenants of the parties shall survive the execution and delivery
of this Agreement and the Closing until the earlier of (a) performance of such covenant, (b) the terms set forth therein, and (c)
the applicable statute of limitations.

 

Article
VI

MISCELLANEOUS

 

6.1             
Fees and Expenses.

 

Other than as set forth
in the Transaction Documents, the parties hereto shall be responsible for the payment of all expenses incurred by them in connection
with the preparation and negotiation of the Transaction Documents and the consummation of the transactions contemplated hereby.
Purchaser shall pay all stamp taxes and other taxes and duties levied in connection with the sale and issuance of the Purchased
Shares to Purchaser.

 

6.2             
Entire Agreement.

 

The Transaction Documents,
together with the Exhibits and Schedules thereto, contain the entire understanding of the parties with respect to the subject matter
hereof and supersede all prior agreements, understandings, discussions, and representations, oral or written, with respect to such
matters, which the parties acknowledge have been merged into such documents, exhibits, and schedules.

 

    15

     

    

 

6.3             
Notices.

 

Any and all notices
or other communications or deliveries required or permitted to be provided hereunder shall be in writing and shall be deemed given
and effective on the earliest of (a) the date of transmission, if such notice or communication is delivered via facsimile
or e-mail (provided the sender receives a confirmation of successful facsimile transmission or e-mail notification or confirmation
of receipt of an e-mail transmission) at the facsimile number or e-mail address specified in this Section 6.3 prior to 5:00 p.m.,
Eastern Time, on a Business Day, (b) the next Business Day after the date of transmission, if such notice or communication is
delivered via facsimile or e-mail at the facsimile number or e-mail address specified in this Section 6.3 on a day that is not
a Business Day or later than 5:00 p.m., Eastern Time, on any Business Day, (c) if sent by U.S. nationally recognized overnight
courier service with next day delivery specified (receipt requested), the Business Day following delivery to such courier service,
or (d) upon actual receipt by the party to whom such notice is required to be given. The address for such notices and communications
shall be as follows:

 

	 	If
    to the Company:	 	BCB
    Bancorp, Inc.
 104-110 Avenue C
 Bayonne, NJ 07002
 Attention: Michael Lesler, Executive Vice President and Chief
    Operating Officer
 Email: mlesler@bankwithbcb.com
	 	 	 	 
	 	with
    a copy to:	 	Holland
    & Knight LLP
 31 W. 52nd Street
 New York, NY 10019
 Attention: Paul M. Aguggia
 E-mail: paul.aguggia@hklaw.com
	 	 	 	 
	 	If to Purchaser:	 	To the address
set forth under Purchaser’s name on the signature page hereof;

 

or such other address as may be designated
in writing hereafter, in the same manner, by such Person.

 

6.4             
Amendments; Waivers.

 

No amendment or waiver
of any provision of this Agreement will be effective with respect to any party unless made in writing and signed by a duly authorized
representative of such party. No waiver of any default with respect to any provision, condition, or requirement of this Agreement
shall be deemed to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision,
condition, or requirement hereof, nor shall any delay or omission of either party to exercise any right hereunder in any manner
impair the exercise of any such right.

 

6.5             
Construction; Interpretation.

 

The headings herein
are for convenience only, do not constitute a part of this Agreement, and shall not be deemed to limit or affect any of the provisions
hereof. The language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent,
and no rules of strict construction will be applied against any party. This Agreement shall be construed as if drafted jointly
by the parties, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship
of any provisions of this Agreement or any of the Transaction Documents. Any reference to any Law will be deemed also to refer
to all rules and regulations promulgated thereunder, unless the context requires otherwise. The word “include,”
“includes,” and “including” means “including without limitation”;
the word “or” means “and/or”; and the word “any”
means “any or all.” When a reference is made in this Agreement to a Section or Schedule, such reference
shall be to the Section or Schedule to this Agreement unless otherwise specifically indicated. The words “hereof”,
“herein” and “hereunder” and words of similar import when used in this Agreement
shall refer to this Agreement as a whole and not to any particular provision of this Agreement. Whenever any action must be taken
hereunder on or by a day that is not a Business Day, then such action may be validly taken on or by the next day that is a Business
Day.

 

    16

     

    

 

6.6             
Successors and Assigns.

 

The provisions of this
Agreement shall inure to the benefit of and be binding upon the parties and their successors and permitted assigns. This Agreement,
or any rights or obligations hereunder, may not be assigned by Purchaser, on the one hand, or by the Company and the Bank, on the
other hand, without the prior written consent of the other party(ies).

 

6.7             
No Third-Party Beneficiaries.

 

This Agreement is intended
for the benefit of the parties hereto, their respective successors and permitted assigns, and is not for the benefit of, nor may
any provision hereof be enforced by, any other Person; provided that each of the Purchaser Parties with respect to Section
5.1(a), and the Indemnitee-Related Investor Entities with respect to Section 5.3(d), shall be third-party beneficiaries of such
Sections, entitled to enforce such Sections against the Company as though each such Purchaser Party or Indemnitee-Related Investor
Entity were a party to this Agreement with respect to such Sections.

 

6.8             
Governing Law.

 

All questions concerning
the construction, validity, enforcement and interpretation of this Agreement shall be governed by and construed and enforced in
accordance with the internal laws of the State of New York, without regard to the principles of conflicts of law thereof that
would cause the laws of another jurisdiction to apply. Each party agrees that all Proceedings concerning the interpretations,
enforcement and defense of the transactions contemplated by this Agreement and any other Transaction Documents (whether brought
against a party hereto or its respective Affiliates, employees or agents) shall be commenced on an exclusive basis in the New
York Courts. Each party hereto hereby irrevocably submits to the exclusive jurisdiction of the New York Courts for the adjudication
of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein (including
with respect to the enforcement of any of the Transaction Documents), and hereby irrevocably waives, and agrees not to assert
in any Proceeding, any claim that it is not personally subject to the jurisdiction of any such New York Court, or that such Proceeding
has been commenced in an improper or inconvenient forum. Each party hereto hereby irrevocably waives personal service of process
and consents to process being served in any such Proceeding by mailing a copy thereof via registered or certified mail or overnight
delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement and agrees
that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be
deemed to limit in any way any right to serve process in any manner permitted by law.

 

    17

     

    

 

6.9             
Waiver of Jury Trial.

 

EACH PARTY VOLUNTARILY,
INTENTIONALLY, IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LEGAL ACTION BASED
ON, ARISING OUT OF, UNDER OR IN CONNECTION WITH, OR RELATING TO THIS AGREEMENT OR ANY OTHER TRANSACTION DOCUMENT, OR ANY COURSE
OF CONDUCT, COURSE OF DEALINGS, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF ANY PERSON OR PARTY AND RELATED TO THIS AGREEMENT
OR ANY OTHER TRANSACTION DOCUMENT; THIS IRREVOCABLE WAIVER OF THE RIGHT TO A JURY TRIAL BEING A MATERIAL INDUCEMENT FOR THE PARTIES
TO ENTER INTO THIS AGREEMENT.

 

6.10         
Counterparts.

 

This Agreement may
be executed in two or more counterparts, all of which when taken together shall be considered one and the same agreement and shall
become effective when counterparts have been signed by each party and delivered to the other party, it being understood that the
parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission, by DocuSign,
or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and binding obligation of the
party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile signature page
or DocuSign were an original thereof.

 

6.11         
Severability.

 

If any provision of
this Agreement is held to be invalid or unenforceable in any respect, the validity and enforceability of the remaining terms and
provisions of this Agreement shall not in any way be affected or impaired thereby and the parties will attempt to agree upon a
valid and enforceable provision that is a reasonable substitute therefor, and upon so agreeing, shall incorporate such substitute
provision in this Agreement.

 

6.12         
Replacement of Shares.

 

If any certificate
or instrument evidencing any Purchased Shares is mutilated, lost, stolen, or destroyed, the Company shall issue or cause to be
issued in exchange and substitution for and upon cancellation thereof, or in lieu of and substitution therefor, a new certificate
or instrument, but only upon receipt of evidence reasonably satisfactory to the Company and the Transfer Agent of such loss, theft,
or destruction and the execution by the holder thereof of a customary lost certificate affidavit of that fact and an agreement
to indemnify and hold harmless the Company, the Bank and the Transfer Agent for any losses in connection therewith. The applicants
for a new certificate or instrument under such circumstances shall also pay any reasonable third-party costs associated with the
issuance of such replacement Shares. If a replacement certificate or instrument evidencing any Shares is requested due to a mutilation
thereof, the Company may require delivery of such mutilated certificate or instrument as a condition precedent to any issuance
of a replacement.

 

    18

     

    

 

6.13         
Remedies.

 

In addition to being
entitled to exercise all rights provided herein or granted by law, including recovery of damages, Purchaser and the Company will
be entitled to seek specific performance under this Agreement and the other Transaction Documents. The parties agree that monetary
damages may not be adequate compensation for any loss incurred by reason of any breach of obligations described in the foregoing
sentence and hereby agree to waive in any action for specific performance of any such obligation (other than in connection with
any action for a temporary restraining order) the defense that a remedy at law would be adequate. No party seeking an injunction
or injunctions to prevent breaches of this Agreement or to enforce specifically the terms and provisions of this Agreement shall
be required to provide any bond or other security in connection therewith.

 

[REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK]

 

    19

     

    

 

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

 

	 	BCB BANCORP, INC.
	 	 
	 	By:	/s/
    Thomas M. Coughlin                 
	 	 	Name: Thomas M. Coughlin
	 	 	Title: President and Chief Executive Officer
	 	 	 
	 	BCB COMMUNITY BANK
	 	 
	 	By:	/s/ Thomas M. Coughlin
	 	 	Name: Thomas M. Coughlin
	 	 	Title: President and Chief Executive Officer

 

[Signature Page to Stock Purchase Agreement]

 

    

     

    

 

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

 

	 	Purchaser
	 	 
	 	MFP
    PARTNERS, L.P.
	 	 
	 	By:	/s/
    Timothy     E.
    Ladin                            
	 	 	Name: Timothy     E.
    Ladin
	 	 	Title:
    General Counsel and Vice President
	 	 
	 	Number
    of Shares Purchased at Closing:
	 	 
	 	Common
    Stock: 1,020,408
	 	 
	 	Tax
    ID No: 22-3608482
	 	 
	 	Address
    for Notice:
	 	 
	 	c/o
    MFP Investors LLC
	 	 
	 	909
    Third Avenue, 33rd Fl.
	 	 
	 	New
    York, NY 10022
	 	 
	 	Telephone:
    (212) 752-7280
	 	 
	 	Email:
    notices@mfpllc.com
	 	 
	 	Attention:
    Timothy E. Ladin, General Counsel

 

[Signature Page to Stock Purchase Agreement]

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