Document:

December 31, 2014 Exhibit 10.1

    EXHIBIT 10.1

SECURITIES PURCHASE AGREEMENT

This Securities Purchase Agreement (this "Agreement") is dated as of December 30, 2014, between S&W Seed Company, a Nevada
corporation (the "Company"), and each purchaser identified on the signature pages hereto (each, including its successors and assigns, a "Purchaser"
and collectively, the "Purchasers").

WHEREAS, subject to the terms and conditions set forth in this Agreement and pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended (the
"Securities Act"), and Rule 506 promulgated thereunder, the Company desires to issue and sell to each Purchaser, and each Purchaser, severally and not jointly, desires
to purchase from the Company, securities of the Company as more fully described 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 and each Purchaser agree as follows:

ARTICLE I.

                  DEFINITIONS

1.1  Definitions.  In addition to the terms defined elsewhere in this Agreement:  (a) capitalized terms that are not otherwise defined herein have the
meanings given to such terms in the Debentures (as defined herein), and (b) the following terms have the meanings set forth in this Section 1.1:

"8-K Filings" shall have the meaning ascribed to such term in Section 4.6.

"Acquiring Person" shall have the meaning ascribed to such term in Section 4.7.

"Action" shall have the meaning ascribed to such term in Section 3.1(j).

"Affiliate" means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control
with a Person, as such terms are used in and construed under Rule 405 under the Securities Act.  

"BHCA" shall have the meaning ascribed to such term in Section 3.1(pp).

"Board of Directors" means the board of directors of the Company.

"Business Day" means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or any day on
which banking institutions in the State of New York are authorized or required by law or other governmental action to close.

"Buy-In" shall have the meaning ascribed to such term in 4.1(e).

"Buy-In Price" shall have the meaning ascribed to such term in 4.1(e).

"California Properties" means any real estate property owned by the Company or any of the Subsidiaries in (a) Imperial Valley, California and (b) Five Points,
California.

"Closing" means the closing of the purchase and sale of the Securities pursuant to Section 2.1.

"Closing Date" means the Trading Day on which all of the Transaction Documents have been executed and delivered by the applicable parties
thereto, and all conditions precedent to (a) the Purchasers' obligations to pay the Subscription Amount and (b) the Company's obligations to deliver the Securities, in each case, have been
satisfied or waived.

"Code" shall have the meaning ascribed to such term in Section 2.1.

"Collateral" shall have the meaning ascribed to such term in the Security Agreement.

"Collateral Agent" shall have the meaning ascribed to such term in Section 4.22(a).

"Collateral Agent Indemnitees" shall have the meaning ascribed to such term in Section 4.22(b).

"Commission" means the United States Securities and Exchange Commission.

"Common Stock" means the common stock of the Company, par value $0.001 per share, and any other class of securities into which such
securities may hereafter be reclassified or changed.

"Common Stock Equivalents" means any securities of the Company or the Subsidiaries which would entitle the holder thereof to acquire at any
time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or
otherwise entitles the holder thereof to receive, Common Stock.

"Company Counsel" means Holland & Knight LLP, with offices located at 111 SW Fifth Avenue, Suite 2300, Portland, OR 97204.

"Contingent Obligation" means, as to any Person, any direct or indirect liability, contingent or otherwise, of that Person with respect to any Indebtedness,
lease, dividend or other obligation of another Person if the primary purpose or intent of the Person incurring such liability, or the primary effect thereof, is to provide assurance to the obligee of
such liability that such liability will be paid or discharged, or that any agreements relating thereto will be complied with, or that the holders of such liability will be protected (in whole or in part)
against loss with respect thereto.

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"Conversion Price" shall have the meaning ascribed to such term in the Debentures.

"Conversion Shares" means the shares of Common Stock issuable upon the conversion of the Debentures.

"Debentures" means the 8% Senior Secured Convertible Debentures due, subject to the terms therein, 36 months from their date of issuance,
issued by the Company to the Purchasers hereunder, in the form of Exhibit A attached hereto.

"Disclosure Schedules" means the Disclosure Schedules delivered by the Company concurrently with the execution and delivery of this
Agreement.  

"Disqualification Event" shall have the meaning ascribed to such term in Section 3.1(rr).

"EGS" means Ellenoff Grossman & Schole LLP, with offices located at 1345 Avenue of the Americas, New York, New York 10105-0302.

"Effective Date" means the earliest of the date that (a) the initial Registration Statement has been declared effective by the Commission, (b) all of
the Underlying Shares have been sold pursuant to Rule 144 or may be sold pursuant to Rule 144 without the requirement for the Company to be in compliance with the current public
information required under Rule 144 and without volume or manner-of-sale restrictions or (c) following the one-year anniversary of the Closing Date provided that a holder of Securities is not
an Affiliate of the Company, all of the Underlying Shares may be sold pursuant to an exemption from registration under Section 4(1) of the Securities Act without volume or manner-of-sale
restrictions and Company Counsel has delivered to such holders a standing written unqualified opinion that resales may then be made by such holders of the Securities pursuant to such
exemption which opinion shall be in form and substance reasonably acceptable to such holders.

"Environmental Laws" shall have the meaning ascribed to such term in Section 3.1(m).

"Escrow Agent" means Alerus Financial, with offices located at 401 Demers Avenue, Grand Forks, North Dakota 58206-6001.

"Escrow Agreement" means the escrow agreement entered into prior to the date hereof, by and among the Company, the Escrow Agent and the
Placement Agent pursuant to which the Purchasers shall deposit Subscription Amounts with the Escrow Agent to be applied to the transactions contemplated hereunder.

"Evaluation Date" shall have the meaning ascribed to such term in Section 3.1(s).

"Exchange Act" means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

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"Exempt Issuance" means the issuance of (a) shares of Common Stock or options to employees, officers or directors of the Company pursuant to
any stock or option plan duly adopted for such purpose, by a majority of the non-employee members of the Board of Directors or a majority of the members of a committee of non-employee
directors established for such purpose for services rendered to the Company, (b) securities upon the exercise or exchange of or conversion of any Securities issued hereunder and/or other
securities exercisable or exchangeable for or convertible into shares of Common Stock issued and outstanding on the date of this Agreement, including without limitation, securities issued
upon exercise of outstanding Class B Warrants, provided that such securities have not been amended since the date of this Agreement to increase the number of such securities or
to decrease the exercise price, exchange price or conversion price of such securities (other than in connection with stock splits or combinations) or to extend the term of such securities, (c)
securities issued pursuant to acquisitions approved by a majority of the disinterested directors of the Company, provided that any such issuance shall only be to a Person (or to the
equityholders of a Person) which is, itself or through its subsidiaries, an operating company or an owner of an asset in a business synergistic with the business of the Company and shall
provide to the Company additional benefits in addition to the investment of funds, but shall not include a transaction in which the Company is issuing securities primarily for the purpose of
raising capital or to an entity whose primary business is investing in securities, and (d) up to 300,000 shares of Common Stock (as adjusted for any stock dividends, stock split, stock
combination, reclassification or similar transactions occurring after the date hereof) issued in a transaction with Bioceres, S.A., a joint-venture partner of the Company.

"FCPA" means the Foreign Corrupt Practices Act of 1977, as amended.

"Federal Reserve" has the meaning ascribed to such term in Section 3.1(pp).

"GAAP" shall have the meaning ascribed to such term in Section 3.1(h).

"Guarantee Agreement" means the Guarantee Agreement, dated as of the date hereof, among the U.S. Subsidiaries and the Collateral Agent, in the form of
Exhibit L attached hereto.

"Hazardous Materials" shall have the meaning ascribed to such term in Section 3.1(m).

"Indebtedness" of any Person means, without duplication (a) all indebtedness for borrowed money, (b) all obligations issued, undertaken or
assumed as the deferred purchase price of property or services, including, without limitation, "capital leases" in accordance with GAAP (other than trade payables entered into in the ordinary
course of business consistent with past practice), (c) all reimbursement or payment obligations with respect to letters of credit, surety bonds and other similar instruments, (d) all obligations
evidenced by notes, bonds, debentures or similar instruments, including obligations so evidenced incurred in connection with the acquisition of property, assets or businesses,

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(e) all indebtedness created or arising under any conditional sale or other title retention agreement, or incurred as financing, in either case with respect to any property or assets acquired with the
proceeds of such indebtedness (even though the rights and remedies of the seller or bank under such agreement in the event of default are limited to repossession or sale of such property),
(f) all monetary obligations under any leasing or similar arrangement which, in connection with GAAP, consistently applied for the periods covered thereby, is classified as a "capital lease", (g)
all indebtedness referred to in clauses (a) through (f) above secured by (or for which the holder of such indebtedness has an existing right, contingent or otherwise, to be secured by) any
mortgage, lien, pledge, charge, security interest or other encumbrance upon or in any property or assets (including accounts and contract rights) owned by any Person, even though the
Person which owns such assets or property has not assumed or become liable for the payment of such indebtedness, and (h) all Contingent Obligations in respect of indebtedness or
obligations of others of the kinds referred to in clauses (a) through (g) above.

"Indemnification Allocation Percentage" shall have the meaning ascribed to such term in Section 4.22(a).

"Indemnitee-Related Purchaser Entities" shall have the meaning ascribed to such term in Section 4.10(d).

"Intellectual Property Rights" shall have the meaning ascribed to such term in Section 3.1(p).

"Intercreditor Agreement" means the Intercreditor agreement, dated as of the Closing Date, by and among the Company, the Lead Investor as
agent for the holders of the Debentures, Pioneer Hi-Bred International, Inc. and Wells Fargo National Association.

"Irrevocable Transfer Agent Instructions" means the Irrevocable Transfer Agent Instructions, in the form of Exhibit G attached hereto.

"Issuer Covered Person" shall have the meaning ascribed to such term in Section 3.1(rr).

"Jointly Indemnifiable Purchaser Claim" shall have the meaning ascribed to such term in Section 4.10(d).

"Lead Investor" means Hudson Bay Master Fund Ltd.

"Legend Removal Date" shall have the meaning ascribed to such term in Section 4.1(d).

"Liens" means a lien, charge, pledge, security interest, encumbrance, tax, right of first refusal, preemptive right or other restriction.

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"Limitation Period" shall have the meaning ascribed to such term in Section 4.13(a).

"Limitation Period Allowed Issuance" shall have the meaning ascribed to such term in Section 4.13(a).

"Limitation Period Issuances" shall have the meaning ascribed to such term in Section 4.13(a).

"Lock-Up Agreements" means the Lock-Up Agreements, dated as of the date hereof, among the parties thereto, in the form of Exhibit I attached
hereto.

"Material Adverse Effect" shall have the meaning assigned to such term in Section 3.1(b).

"Material Permits" shall have the meaning ascribed to such term in Section 3.1(n).

"Maximum Rate" shall have the meaning ascribed to such term in Section 5.17.

"MFP Documents" shall have the meaning ascribed to the term "Transaction Documents" in the Purchase Agreement, dated on or about the date hereof, by
and among the Company and MFP Investors, LLC.

"Money Laundering Laws" shall have the meaning ascribed to such term in Section 3.1(qq).

"Mortgage Policy" shall have the meaning ascribed to such term in Section 2.2(a)(xix).

"OFAC" shall have the meaning ascribed to such term in Section 3.1(nn).

"Participation Maximum" shall have the meaning ascribed to such term in Section 4.12(a).

"Permitted Lien" shall have the meaning ascribed to such term in the Debentures.

"Person" means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability company,
joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

"Pioneer 8-K Filing" shall have the meaning ascribed to such term in Section 4.6.

"Pioneer Documents" shall have the meaning ascribed to the term "Transaction Documents" in the Asset Purchase and Sale Agreement, dated on or about
the date hereof, by and among the Company and Pioneer Hi-Bred International, Inc.

"Pioneer Termination Date" shall have the meaning ascribed to such term in Section 4.23.

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"PIPE 8-K Filing" shall have the meaning ascribed to such term in Section 4.6.

"Placement Agent" means, collectively, Craig-Hallum Capital Group LLC and ROTH Capital Partners LLC.

"Principal Shareholders" means the shareholders set forth on Schedule 1.1, holding in the aggregate no less than such percentage of the issued
and outstanding Common Stock as set forth in Appendix A attached to the Voting Agreement.  

"Pro Rata Indemnification Amount" shall have the meaning ascribed to such term in Section 4.22(a).

"Pro Rata Portion" shall have the meaning ascribed to such term in Section 4.12(d).

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

"Public Information Failure" shall have the meaning ascribed to such term in Section 4.3(b).

"Public Information Failure Payments" shall have the meaning ascribed to such term in Section 4.3(b).

"Purchaser Party" shall have the meaning ascribed to such term in Section 4.10(a).

"Real Property Collateral" shall have the meaning ascribed to such term in Section 3.1(o).

"Registration Rights Agreement" means the Registration Rights Agreement, dated the date hereof, among the Company and the Purchasers, in
the form of Exhibit B attached hereto.

"Registration Statement" means a registration statement meeting the requirements set forth in the Registration Rights Agreement and covering
the resale of the Underlying Shares by each Purchaser as provided for in the Registration Rights Agreement.

"Required Approvals" shall have the meaning ascribed to such term in Section 3.1(e).

"Required Holders" means the Holders of at least a majority of the number of Underlying Shares issued and issuable pursuant to the terms of the Warrants
and pursuant to the terms of the Debentures and shall include the Lead Investor so long as the Lead Investor or any of its Affiliates holds any Securities.

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"Required Minimum" means, as of any date, the maximum aggregate number of shares of Common Stock then issued or potentially issuable in
the future pursuant to the Transaction Documents, including any Underlying Shares issuable upon exercise in full of all Warrants or conversion in full of all Debentures (including Underlying
Shares issuable as payment of interest on the Debentures), ignoring any conversion or exercise limits set forth therein, and assuming that the Conversion Price is at all times on and after the
date of determination 75% of the then Conversion Price on the Trading Day immediately prior to the date of determination.

"Rule 144" means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or
any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule.

"Rule 424" means Rule 424 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted from
time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose and effect as such Rule.

"SEC Reports" shall have the meaning ascribed to such term in Section 3.1(h).

"Securities" means the Debentures, the Warrants and the Underlying Shares.

"Securities Act" means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

"Security Agreement" means the Security Agreement, dated the date hereof, among the Company and the Purchasers, in the form of Exhibit
E attached hereto.

"Security Documents" means the Security Agreement, the Guarantee Agreement, the Intercreditor Agreement, any account control agreement,
any and all financing statements, fixture filings, security agreements, pledges, assignments, mortgages, deeds of trust, opinions of counsel, and all other documents requested by the
Collateral Agent or the Purchasers to create, perfect, and continue perfected or to better perfect the Purchasers' security interests in and Liens on the assets of the Company (whether now
owned or hereafter arising or acquired, tangible or intangible, real or personal), as provided in the Security Agreement, and in order to fully consummate all of the transactions contemplated
hereby and under the other Transaction Documents.

"Shareholder Approval" means such approval required by the applicable rules and regulations of the Nasdaq Stock Market (or any successor
entity) from the shareholders of the Company with respect to the transactions contemplated by the Transaction Documents, including the issuance of all of the Underlying Shares in excess of
19.99% of the issued and outstanding Common Stock on the Closing Date.

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"Short Sales" means all "short sales" as defined in Rule 200 of Regulation SHO under the Exchange Act (but shall not be deemed to
include the location and/or reservation of borrowable shares of Common Stock).

"Subscription Amount" means, as to each Purchaser, the aggregate amount to be paid for Debentures and Warrants
purchased hereunder as specified below such Purchaser's name on the signature page of this Agreement and next to the heading "Subscription Amount," in United States dollars
and in immediately available funds.

"Subsequent Financing" shall have the meaning ascribed to such term in Section 4.12(a).

"Subsequent Financing Notice" shall have the meaning ascribed to such term in Section 4.12(b). 

"Subsidiary" means any entity in which the Company, directly or indirectly, owns any of the capital stock or holds an equity or similar interest.

"Trading Day" means a day on which the principal Trading Market is open for trading; 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 on any date that the Common Stock is suspended from trading during the final
hour of such exchange or market (or if such exchange or market does not announce in advance the closing time of trading on such exchange or market, then during the hour ending at 4:00
p.m. (New York City time)).

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

"Transaction Documents" means this Agreement, the Debentures, the Warrants, the Registration Rights Agreement, the Security Documents, the
Escrow Agreement, the Voting Agreement, the Irrevocable Transfer Agent Instructions, the Lock-Up Agreements, all exhibits and schedules thereto and hereto and any other documents or
agreements executed in connection with the transactions contemplated thereunder and hereunder.

"Transfer Agent" means Transfer Online, Inc., the current transfer agent of the Company, with a mailing address of 512 SW Salmon Street,
Portland, OR 97214 and a facsimile number of (503) 227-6874, and any successor transfer agent of the Company.

"Underlying Shares" means the Warrant Shares and shares of Common Stock issued and issuable pursuant to the terms of the Debenture,
including without limitation, shares of Common Stock issued and issuable in lieu of the cash payment of interest on the Debentures in accordance with the terms of the Debentures, in each
case without respect to any limitation or restriction on the conversion of the Debentures or the exercise of the Warrants.

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"Undersubscription Amount" shall have the meaning ascribed to such term in Section 4.12(a).

"U.S. Subsidiary" means any Subsidiary formed in the United States.

"Variable Rate Transaction" shall have the meaning ascribed to such term in Section 4.13(b).

"Voting Agreement" means the written agreement among the Company and the Principal Shareholders, in the form of Exhibit F attached
hereto to vote all of the shares of Common Stock set forth in Schedule 1.1 hereof (unless previously sold pursuant to the exemptions set forth in the Voting Agreement) and such
other shares of Common Stock as may be acquired by such Principal Shareholders as of the record date for the meeting of the shareholders of the Company. 

"VWAP" means, for any date, the price determined by the first of the following clauses that applies:  (a) if the Common Stock is then listed or
quoted on a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the nearest preceding date) on the Trading Market on which the Common Stock
is then listed or quoted as reported by Bloomberg L.P. (based on a Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b)  if the OTC Bulletin Board is
not a Trading Market, the volume weighted average price of the Common Stock for such date (or the nearest preceding date) on the OTC Bulletin Board, (c) if the Common Stock is not then
listed or quoted for trading on the OTC Bulletin Board and if prices for the Common Stock are then reported in the "Pink Sheets" published by Pink OTC Markets, 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 Required Holders and reasonably acceptable to the Company, the fees and
expenses of which shall be paid by the Company.

"Warrants" means, collectively, the Common Stock purchase warrants delivered to the Purchasers at the Closing in accordance with Section
2.2(a) hereof, which Warrants shall be exercisable six months from the Closing Date and have a term of exercise equal to five (5) years from the date of exercisability, in the form of
Exhibit C attached hereto.

"Warrant Shares" means the shares of Common Stock issuable upon exercise of the Warrants.

"Working Capital Loan Agreements" shall have the meaning ascribed to such term in the Intercreditor Agreement.

ARTICLE II.

                    PURCHASE AND SALE

2.1   Closing.  On the Closing Date, upon the terms and subject to the conditions set

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forth herein, substantially concurrent with the execution and delivery
of this Agreement by the parties hereto, the Company agrees to sell, and the Purchasers, severally and not jointly, agree to purchase, up to an aggregate of $27,000,000 in principal amount
of the Debentures and related Warrants.  The Purchasers and the Company agree that the Debentures and the Warrants constitute an "investment unit" for the purposes of Section 1273(c)(2)
of the Internal Revenue Code of 1986, as amended (the "Code").  Each Purchaser shall pay $1,000 for each $1,000 of principal amount of Debentures and related Warrants to be
purchased by such Purchaser at the Closing.  The Purchasers and the Company mutually agree that the allocation of the issue price of such investment unit between the Debentures and the
Warrants in accordance with Section 1273(c)(2) of the Code and Treasury Regulation Section 1.1273 2(h) shall be an aggregate amount of $135,000 allocated to the Warrants and the
balance of the Subscription Amounts allocated to the Debentures, and neither the Purchasers nor the Company shall take any position inconsistent with such allocation in any tax return or in
any Proceeding in respect of taxes.  Each Purchaser shall deliver to the Escrow Agent, via wire transfer or a certified check, immediately available funds equal to such Purchaser's
Subscription Amount (less, in the case of the Lead Investor, the amounts withheld pursuant to Section 5.2) as set forth on the signature page hereto executed by such Purchaser, and the
Company shall deliver to each Purchaser its respective Debenture and a Warrant, as determined pursuant to Section 2.2(a), and the Company and each Purchaser shall deliver the other
items set forth in Section 2.2(b) deliverable at the Closing.  Upon satisfaction of the covenants and conditions set forth in Sections 2.2 and 2.3, the Closing shall occur at the offices of EGS or
such other location as the parties shall mutually agree. 

2.2   Deliveries. 

	On or prior to the Closing Date, the Company shall deliver or cause to be delivered to each Purchaser, or the Collateral Agent, as applicable, the following:

	this Agreement, duly executed by the Company;

	(A) a legal opinion of Company Counsel, dated as of the Closing Date, in a form acceptable to such Purchaser and (B) a legal opinion of
Lionel Sawyer & Collins, the Company's outside Nevada counsel, dated as of the Closing Date, in a form acceptable to such Purchaser; 

	original Debentures with an aggregate principal amount equal to such Purchaser's Subscription Amount (allocated in the principal amounts as such Purchaser
requests), duly executed by the Company and registered in the name of such Purchaser or its designee;

	original Warrants, duly executed by the Company and registered in the name of such Purchaser, to purchase up to a number of shares of Common Stock equal to
50% of such Purchaser's Conversion Shares on the Closing Date;

	the Intercreditor Agreement, duly executed by the parties thereto (other than the Purchasers);

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	evidence of amendments (in each case in form and substance satisfactory to the Purchasers and the Collateral Agent) to the Working Capital Loan Agreements
permitting the transactions contemplated by the Transaction Documents, including (A) the Indebtedness incurred and (B) the Liens in favor of the Purchasers and the Collateral Agent with
respect thereto;

	the Voting Agreements, duly executed by the parties thereto; 

	the Registration Rights Agreement, duly executed by the Company;

	a copy of the Irrevocable Transfer Agent Instructions, which instructions shall have been delivered and acknowledged in writing by the Transfer Agent;

	a certificate evidencing the formation and good standing of the Company and each of its Subsidiaries in such entity's jurisdiction of formation issued by the
Secretary of State (or comparable office) of such jurisdiction, as of a date within 10 days of the Closing Date;

	a certificate evidencing the Company's and each of its Subsidiaries qualification as a foreign corporation and good standing issued by the Secretary of State (or
comparable office) of each jurisdiction in which the Company or its Subsidiaries conducts business, within 10 days of the Closing Date;

	a certified copy of the articles of incorporation of the Company and each of its U.S. Subsidiaries' as certified by the Secretary of State (or comparable office) of the
jurisdiction of formation of the Company and each of its U.S. Subsidiaries within 10 days of the Closing Date;

	a certificate executed by the Secretary of the Company and dated as of the Closing Date, in the form of Exhibit H hereto, as to (A) the resolutions
consistent with Section 3.1(c) as adopted by the Company's and each U.S. Subsidiary's board of directors (or equivalent governing body), (B) the articles of incorporation of the Company and
each U.S. Subsidiary in effect as of the Closing, and (C) the bylaws of the Company and each U.S. Subsidiary in effect as of the Closing;

	a letter from the Transfer Agent certifying the number of shares of Common Stock outstanding as of a date within five days of the Closing Date; 

	the Lock-Up Agreements, duly executed by the parties thereto; 

	the Guarantee Agreement, duly executed by each U.S. Subsidiary;

	the Security Agreement, duly executed by the Company, along with (A) any copyright, patent and trademark agreements required by the terms of

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the Security Agreement, (B) the original stock certificates representing all of the equity interests and all promissory notes required to be pledged thereunder, accompanied by undated stock powers and
allonges executed in blank and other proper instruments of transfer, and (C) any other Security Documents reasonably requested by the Purchasers or the Collateral Agent;

	to the Collateral Agent, certified copies of requests for copies of information on Form UCC-11, listing all effective financing statements which name as debtor the
Company or any of its U.S. Subsidiaries and which are filed in such office or offices as may be necessary or, in the opinion of the Collateral Agent or the Purchasers, desirable to perfect the
security interests purported to be created by the Security Agreement, together with copies of such financing statements, none of which, except as otherwise agreed in writing by the Collateral
Agent, shall cover any of the Collateral, and the results of searches for any tax Lien and judgment Lien filed against such Person or its property, which results, except as otherwise agreed to
in writing by the Collateral Agent and the Purchasers, shall not show any such Liens;

	 to the Collateral Agent, (A) appraisals of the Real Property Collateral satisfactory to the Collateral Agent, and (B) mortgagee title insurance policies (or marked
commitments to issue the same) for the Real Property Collateral issued by a title insurance company satisfactory to the Collateral Agent (each, a "Mortgage Policy"); each in
amounts satisfactory to the Collateral Agent assuring the Collateral Agent that the Mortgage Policies on such Real Property Collateral are valid and enforceable second priority mortgage
Liens on such Real Property Collateral free and clear of all defects and encumbrances except Permitted Liens, and otherwise in form and substance satisfactory to Collateral Agent;

	the Intercreditor Agreement, duly executed by the parties thereto; 

	the Escrow Agreement, duly executed by the parties thereto; and

	such other documents relating to the transactions contemplated by this Agreement as such Purchaser may reasonably request.

	On or prior to the Closing Date, each Purchaser shall deliver or cause to be delivered to the Company or the Escrow Agent, as applicable, the
following:

	this Agreement duly executed by such Purchaser;

	to the Escrow Agent, such Purchaser's Subscription Amount (less, in the case of the Lead Investor, the amounts withheld pursuant to Section 5.2) by wire transfer
or certified check to the account specified on Schedule 2.2(b)(ii);

	in case such Purchaser is the Lead Investor, the Security Agreement duly executed by such Purchaser acting as Collateral Agent; 

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	in case such Purchaser is the Lead Investor, the Intercreditor Agreement duly executed by such Purchaser acting as Collateral Agent; and

	the Registration Rights Agreement duly executed by such Purchaser. 

2.3   Closing Conditions. 

	The obligations of the Company hereunder to issue and sell the Debentures and related Warrants to each Purchaser in connection with the Closing are subject to
the following conditions being met, it being understood that these conditions are for the Company's sole benefit and may be waived by the Company in its sole discretion by providing each
Purchaser written notice thereof:

	the accuracy in all material respects on the Closing Date of the representations and warranties of such Purchaser contained herein (unless as of a specific date
therein in which case they shall be accurate as of such date); 

	all obligations, covenants and agreements of such Purchaser required to be performed at or prior to the Closing Date shall have been performed in all material
respects; and

	the delivery by such Purchaser of the items set forth in Section 2.2(b).

	The respective obligations of each Purchaser hereunder in connection with the Closing are subject to the following conditions being met, it being understood that
these conditions are for such Purchaser's sole benefit and may be waived by such Purchaser in its sole discretion by providing the Company written notice thereof:

	(A) the representations and warranties of the Company contained herein shall be true and correct as of the date when made and as of the Closing Date (unless as
of a specific date therein, in which case they shall be true and correct as of such specified date), (B) all obligations, covenants, agreements and conditions of the Company required to be
performed at or prior to the Closing Date shall have been performed, and (C) such Purchaser shall have received a certificate executed by the Chief Executive Officer of the Company, dated
as of the Closing Date, to the foregoing effect in the form attached as Exhibit J hereto;

	the delivery by the Company of the items set forth in Section 2.2(a); 

	there shall have been no Material Adverse Effect with respect to the Company since the date hereof; 

	from the date hereof to the Closing Date, trading in the Common Stock shall not have been suspended by the Commission or the Company's

                                                                14

principal Trading Market and, at any time prior to the Closing Date, trading in securities generally as reported by Bloomberg L.P. shall not have been suspended or limited, or minimum prices shall not have
been established on securities whose trades are reported by such service, or on any Trading Market, nor shall a banking moratorium have been declared either by the United States or New
York State authorities, nor shall there have occurred any material outbreak or escalation of hostilities or other national or international calamity of such magnitude in its effect on, or any
material adverse change in, any financial market which, in each case, in the reasonable judgment of such Purchaser, makes it impracticable or inadvisable to purchase the Securities at the
Closing; and

	the receipt by the Company of the Required Approvals; and

	the consummation of the transactions contemplated pursuant to the Pioneer Documents.

ARTICLE III.

              REPRESENTATIONS AND WARRANTIES

3.1   Representations and Warranties of the Company.  Except as set forth in the correspondingly numbered Disclosure Schedules, the Company hereby
makes the following representations and warranties to each Purchaser:

	   Subsidiaries.  All of the direct and indirect Subsidiaries (both domestic and foreign) of the Company are set forth on Schedule 3.1(a).  The
Company owns, directly or indirectly, all of the capital stock or other equity interests of each Subsidiary free and clear of any Liens, and all of the issued and outstanding shares of capital
stock of each Subsidiary are validly issued and are fully paid, non-assessable and free of preemptive and similar rights to subscribe for or purchase securities. Except as otherwise stated in
Schedule 3.1(a), the Company has the unrestricted right to vote, and (subject to limitations imposed by applicable law) to receive dividends and distributions on, all capital securities
of its Subsidiaries owned by the Company or such Subsidiary. 

	   Organization and Qualification.  Except as may otherwise be stated in Schedule 3.1(b), the Company and each of the Subsidiaries is an entity
duly incorporated or otherwise organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation or organization, with the requisite power and authority to
own and use its properties and assets and to carry on its business as currently conducted.  Neither the Company nor any Subsidiary is in violation or default of any of the provisions of its
respective certificate or articles of incorporation, bylaws or other organizational or charter documents.  Each of the Company and the Subsidiaries is duly qualified to conduct business and is
in good standing as a foreign corporation or other entity in each jurisdiction in which the nature of the business conducted or property owned by it makes such qualification necessary, except
where the failure to be so qualified or in good standing, as the case may be, could not have or reasonably be expected to result in a material adverse effect on (i) the transactions contemplated by the

                                                                15

Transaction Documents, (ii) the results of operations, assets, business, prospects or condition (financial or otherwise) of the Company and the Subsidiaries, individually
or taken as a whole, or (iii) the Company's ability to perform on a timely basis its obligations under any Transaction Document (any of clauses (i), (ii) or (iii), a "Material Adverse
Effect").  No Proceeding has been instituted in any applicable jurisdiction revoking, limiting or curtailing or seeking to revoke, limit or curtail such power, authority or qualification of
the Company or its Subsidiaries. 

	   Authorization; Enforcement. 

(i) The Company has the requisite corporate power and authority to enter into and to consummate the transactions contemplated by this Agreement and
each of the other Transaction Documents and otherwise to carry out the Company's obligations hereunder and thereunder.  The execution and delivery of this Agreement and each of the
other Transaction Documents by the Company and the consummation by the Company of the transactions contemplated hereby and thereby have been duly authorized by all necessary
action on the part of the Company, and no further action is required by the Company, the Board of Directors or the Company's shareholders in connection herewith or therewith, other than in
connection with the Required Approvals.  This Agreement and each other Transaction Document to which the Company is a party have been (or upon delivery will have been) duly executed
by the Company and, when delivered in accordance with the terms hereof and thereof, will constitute the valid and binding obligation of the Company enforceable against the Company in
accordance with its terms, except:  (A) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application
affecting enforcement of creditors' rights generally, (B) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies and (C) insofar as
indemnification and contribution provisions may be limited by applicable law.

(ii)  With respect to the Guarantee Agreement, each of the U.S. Subsidiaries has the requisite corporate power and authority to enter into and to consummate
the transactions contemplated by such agreement and otherwise to carry out its obligations thereunder.  The execution and delivery of the Guarantee Agreement and the consummation by
the U.S. Subsidiaries of the transactions contemplated thereby have been duly authorized by all necessary action on the part of the U.S. Subsidiaries, and no further action is required by the
respective U.S. Subsidiary, its managers or its members in connection therewith.  The Guarantee Agreement has been (or upon delivery will have been) duly executed by the respective U.S.
Subsidiaries and, when delivered in accordance with the terms thereof, will constitute the valid and binding obligation of the respective U.S. Subsidiary enforceable against such U.S.
Subsidiary in accordance with its terms, except:  (A) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general
application affecting enforcement of creditors' rights generally, (B) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies and (C)
insofar as indemnification and contribution provisions may be limited by applicable law.

                                                                16

	   No Conflicts.  The execution, delivery and performance by the Company of this Agreement and the other Transaction Documents to which the Company
is a party, the issuance and sale of the Securities and the consummation by the Company of the transactions contemplated hereby and thereby do not and will not:  (i) conflict with or violate
any provision of the Company's or any Subsidiary's certificate or articles of incorporation, bylaws or other organizational or charter documents; (ii) conflict with, or constitute a default (or an
event that with notice, lapse of time, or both would become a default) under, result in the creation of any Lien upon any of the properties or assets of the Company or any Subsidiary, or give
to other Persons any rights of termination, amendment, acceleration or cancellation (with or without notice, lapse of time, or both) of, any agreement, credit facility, debt or other instrument
(evidencing Company or Subsidiary  Indebtedness or otherwise) or other understanding to which the Company or any Subsidiary is a party or by which any property or asset of the Company
or any Subsidiary is bound or affected, such as could reasonably be expected to result in a Material Adverse Effect; or (iii) subject to the Required Approvals, conflict with or result in a
violation of any law, rule, regulation, order, judgment, injunction, decree or other restriction of any court or governmental authority to which the Company or a Subsidiary is subject (including
federal and state securities laws and regulations), or by which any property or asset of the Company or a Subsidiary is bound or affected.

	   Filings, Consents and Approvals.  Neither the Company nor any Subsidiary is required to obtain any consent, waiver, authorization or order of, give any
notice to, or make any filing or registration with, any court or other federal, state, local or other governmental authority or other Person in connection with the execution, delivery and
performance by the Company and its Subsidiaries of the Transaction Documents, other than:  (i) the filings required pursuant to Section 4.6, (ii) the filing with the Commission pursuant to the
Registration Rights Agreement, (iii) the notice and/or application(s) to each applicable Trading Market for the issuance and sale of the Securities and the listing of the Conversion Shares and
Warrant Shares for trading thereon in the time and manner required thereby, (iv) the filing of Form D with the Commission and such filings as are required to be made under applicable state
securities laws and (v) Shareholder Approval (collectively, the "Required Approvals").

	   Issuance of the Securities.  The Securities are duly authorized and, when issued and paid for in accordance with the applicable Transaction Documents,
will be duly and validly issued, fully paid and nonassessable, free and clear of all Liens imposed by the Company other than restrictions on transfer provided for in the Transaction Documents.
The Underlying Shares, when issued in accordance with the terms of the Transaction Documents, will be validly issued, fully paid and nonassessable, free and clear of all Liens imposed by
the Company other than restrictions on transfer provided for in the Transaction Documents.  The Company has reserved from its duly authorized capital stock a number of shares of Common
Stock for issuance of the Underlying Shares at least equal to the Required Minimum on the date hereof.  

	   Capitalization.  The capitalization of the Company is as set forth on Schedule 3.1(g), which Schedule 3.1(g) shall also include the number of shares of

                                                                17

Common Stock owned beneficially, and of record, by Affiliates of the Company as of the date hereof.  The Company has not issued any capital stock since its most
recently filed periodic report under the Exchange Act, other than pursuant to the exercise of stock options under the Company's equity incentive plans, the issuance of shares of Common
Stock to employees and the Company's former chairman pursuant to the conversion and/or exercise of Common Stock Equivalents outstanding as of the date of the most recently filed
periodic report under the Exchange Act.  No Person has any right of first refusal, preemptive right, right of participation, or any similar right to participate in the transactions contemplated by
the Transaction Documents.  Except as a result of the purchase and sale of the Securities, pursuant to the Company's equity incentive plan and the outstanding Class B Warrants originally
issued in connection with the Company's initial public offering, there are no outstanding options, warrants, scrip rights to subscribe to, calls or commitments of any character whatsoever
relating to, or securities, rights or obligations convertible into or exercisable or exchangeable for, or giving any Person any right to subscribe for or acquire any shares of Common Stock or the
capital stock of any Subsidiary, or contracts, commitments, understandings or arrangements by which the Company or any Subsidiary is or may become bound to issue additional shares of
Common Stock, Common Stock Equivalents or capital stock of any Subsidiary.  The issuance and sale of the Securities will not obligate the Company or any Subsidiary to issue shares of
Common Stock or other securities to any Person (other than the Purchasers) and will not result in a right of any holder of Company securities to adjust the exercise, conversion, exchange or
reset price under any of such securities.  There are no outstanding securities or instruments of the Company or any Subsidiary that contain any redemption or similar provisions, and there are
no contracts, commitments, understandings or arrangements by which the Company or any Subsidiary is or may become bound to redeem a security of the Company or such Subsidiary.
The Company does not have any stock appreciation rights or "phantom stock" plans or agreements or any similar plan or agreement.  All of the outstanding shares of capital stock of the
Company and each Subsidiary are duly authorized, validly issued, fully paid and nonassessable, have been issued in compliance with all federal and state securities laws, and none of such
outstanding shares was issued in violation of any preemptive rights or similar rights to subscribe for or purchase securities.  Other than for Shareholder Approval, no further approval or
authorization of any shareholder, the Board of Directors or others is required for the issuance and sale of the Securities.  Other than as contemplated by the Transaction Documents, there are
no shareholders agreements, voting agreements or other similar agreements with respect to the Company's capital stock to which the Company is a party or, to the knowledge of the
Company, between or among any of the Company's shareholders.

	   SEC Reports; Financial Statements.  The Company has filed all reports, schedules, forms, statements and other documents required to be filed by the
Company under the Securities Act and the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof, for the two (2) years preceding the date hereof (or such shorter period as the
Company was required by law or regulation to file such material) (the foregoing materials, including the exhibits thereto and documents incorporated by reference therein, being collectively
referred to herein as the "SEC Reports") on a timely basis or has

                                                                18

received a valid extension of such time of filing and has filed any such SEC Reports prior to the
expiration of any such extension.  As of their respective dates, the SEC Reports complied in all material respects with the requirements of the Securities Act and the Exchange Act, as
applicable, and none of the SEC Reports, when filed, contained any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to
make the statements therein, in the light of the circumstances under which they were made, not misleading.  The Company is not and has never been an issuer subject to Rule 144(i) under
the Securities Act.  The financial statements of the Company included in the SEC Reports comply in all material respects with applicable accounting requirements and the rules and
regulations of the Commission with respect thereto as in effect at the time of filing.  Such financial statements have been prepared in accordance with United States generally accepted
accounting principles applied on a consistent basis during the periods involved ("GAAP"), except as may be otherwise specified in such financial statements or the notes
thereto, and except that unaudited financial statements may not contain all footnotes required by GAAP, and fairly present in all material respects the financial position of the Company and its
consolidated Subsidiaries as of and for the dates thereof and the results of operations and cash flows for the periods then ended, subject, in the case of unaudited statements, to normal,
immaterial, year-end audit adjustments.

	   Material Changes; Undisclosed Events, Liabilities or Developments.  Since the date of the latest audited financial statements included within the SEC
Reports, except as specifically disclosed in a subsequent SEC Report filed prior to the date hereof:  (i) there has been no event, occurrence or development that has had or that could
reasonably be expected to result in a Material Adverse Effect, (ii) neither the Company nor any Subsidiary has incurred any liabilities (contingent or otherwise) other than (A) trade payables
and accrued expenses incurred in the ordinary course of business consistent with past practice and (B) liabilities not required to be reflected in the Company's or any Subsidiary's financial
statements pursuant to GAAP or disclosed in filings made with the Commission, (iii) except as set forth on Schedule 3.1(i)(iii), neither the Company nor any Subsidiary has sold any
assets outside the ordinary course of business or had capital expenditures, individually or in the aggregate, in excess of $200,000, (iv) neither the Company nor any Subsidiary has altered its
method of accounting, (v) neither the Company nor any Subsidiary has declared or made any dividend or distribution of cash or other property to its shareholders or purchased, redeemed or
made any agreements to purchase or redeem any shares of its capital stock and (vi) neither the Company nor any Subsidiary has issued any equity securities to any officer, director or
Affiliate, except pursuant to existing Company or Subsidiary equity incentive plans.  The Company does not have pending before the Commission any request for confidential treatment of
information.  No event, liability, fact, circumstance, occurrence or development has occurred or exists or is reasonably expected to occur or exist with respect to the Company, its Subsidiaries
or their respective businesses, properties, operations, assets or financial condition, that would be required to be disclosed by the Company under applicable securities laws at the time this
representation is made or deemed made that has not been publicly disclosed at least one (1) Trading Day prior to the date that this representation is made.

                                                                19

	   Litigation.  There is no action, suit, inquiry, notice of violation, proceeding or investigation pending or, to the knowledge of the Company, threatened
against or affecting the Company, any Subsidiary or any of their respective properties before or by any court, arbitrator, governmental or administrative agency or regulatory authority (federal,
state, county, local or foreign) (each, an "Action") which (i) adversely affects or challenges the legality, validity or enforceability of any of the Transaction Documents or
the Securities or (ii) could, if there were an unfavorable decision, have or reasonably be expected to result in a Material Adverse Effect.  Neither the Company, nor any Subsidiary nor any
director or officer thereof, is or has been the subject of any Action involving a claim of violation of or liability under federal or state securities laws or a claim of breach of fiduciary duty.  There
has not been, and to the knowledge of the Company, there is not pending or contemplated, any investigation by the Commission involving the Company or any current or former director or
officer of the Company.  The Commission has not issued any stop order or other order suspending the effectiveness of any registration statement filed by the Company or any Subsidiary
under the Exchange Act or the Securities Act.  

	   Labor Relations.  No labor dispute exists or, to the knowledge of the Company, is imminent with respect to any of the employees of the Company or any
Subsidiary that could reasonably be expected to result in a Material Adverse Effect.  None of the Company's or its Subsidiaries' employees is a member of a union that relates to such
employee's relationship with the Company or such Subsidiary, and neither the Company nor any of its Subsidiaries is a party to a collective bargaining agreement, and the Company and its
Subsidiaries believe that their relationships with their employees are good.  To the knowledge of the Company, no executive officer of the Company or any Subsidiary, is, or is now expected
to be, in violation of any material term of any employment contract, confidentiality, disclosure or proprietary information agreement or non-competition agreement, or any other contract or
agreement or any restrictive covenant in favor of any third party, and the continued employment of each such executive officer does not subject the Company or any of its Subsidiaries to any
liability with respect to any of the foregoing matters.  The Company and its Subsidiaries are in compliance with all U.S. federal, state, local and foreign laws and regulations relating to
employment and employment practices, terms and conditions of employment and wages and hours, except where the failure to be in compliance could not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect.

	   Compliance.  Neither the Company nor any Subsidiary:  (i) is in default under or in violation of (and no event has occurred that has not been waived that,
with notice or lapse of time or both, would result in a default by the Company or any Subsidiary under), nor has the Company or any Subsidiary received notice of a claim that it is in default
under or that it is in violation of, any indenture, loan or credit agreement or any other agreement or instrument to which it is a party or by which it or any of its properties is bound (whether or
not such default or violation has been waived), (ii) is in violation of any judgment, decree or order of any court, arbitrator or other governmental authority or (iii) is or has been in violation of
any statute, rule, ordinance or regulation of any governmental authority, including without limitation all foreign, federal, state and

                                                                20

local laws relating to taxes, environmental protection,
occupational health and safety, product quality and safety and employment and labor matters, except in each case of clauses (i), (ii) and (iii) as could not have or reasonably be expected to
result in a Material Adverse Effect.

	   Environmental Laws.  The Company and its Subsidiaries (i) are in compliance with all federal, state, local or foreign laws relating to pollution or protection
of human health or the environment (including ambient air, surface water, groundwater, land surface or subsurface strata), including laws relating to emissions, discharges, releases or
threatened releases of chemicals, pollutants, contaminants, or toxic or hazardous substances or wastes (collectively, "Hazardous Materials") into the environment, or otherwise
relating to the manufacture, processing, distribution, use, treatment, storage, disposal, transport or handling of Hazardous Materials, as well as all authorizations, codes, decrees, demands, or
demand letters, injunctions, judgments, licenses, notices or notice letters, orders, permits, plans or regulations, issued, entered, promulgated or approved thereunder ("Environmental
Laws"); (ii) have received all permits licenses or other approvals required of them under applicable Environmental Laws to conduct their respective businesses; and (iii) are in compliance
with all terms and conditions of any such permit, license or approval where in each of clauses (i), (ii) and (iii), the failure to so comply could be reasonably expected to have, individually or in
the aggregate, a Material Adverse Effect.

	   Regulatory Permits.  The Company and the Subsidiaries possess all certificates, authorizations and permits issued by the appropriate federal, state, local
or foreign regulatory authorities necessary to conduct their respective businesses as described in the SEC Reports, except where the failure to possess such permits could not reasonably be
expected to result in a Material Adverse Effect ("Material Permits"), and neither the Company nor any Subsidiary has received any notice of proceedings relating to the
revocation or modification of any Material Permit.

	   Title to Assets.  All of the Company's and each Subsidiary's owned real property is set forth on Schedule 3.1(o) (the "Real Property
Collateral").  The Company and each Subsidiary have good and marketable title in fee simple to all such Real Property Collateral owned by them and good and marketable title in all
personal property owned by them that is material to the business of the Company or such Subsidiary, in each case free and clear of all Liens, except for (i) Liens as do not materially affect the
value of such property and do not materially interfere with the use made and proposed to be made of such property by the Company or such Subsidiary and (ii) Liens for the payment of
federal, state or other taxes, for which appropriate reserves have been made therefor in accordance with GAAP, and the payment of which is neither delinquent nor subject to penalties.  Any
real property and facilities held under lease by the Company or any Subsidiary are held by them under valid, subsisting and enforceable leases with which the Company or such Subsidiary is
in compliance. Except as set forth on Schedule 3.1(o), none of the Company's Subsidiaries owns or leases any real property.

                                                                21

	   Intellectual Property.  The Company and each Subsidiary have, or have rights to use, all patents, patent applications, trademarks, trademark
applications, service marks, trade names, trade secrets, inventions, copyrights, licenses and other intellectual property rights and similar rights as necessary or required for use in connection
with their respective businesses and which the failure to so have could have a Material Adverse Effect (collectively, the "Intellectual Property Rights").  Each of the
patents owned by the Company or its Subsidiaries is set forth on Schedule 3.1(p).  None of the Intellectual Property Rights has expired, terminated or been abandoned, or is
expected to expire or terminate or be abandoned, within two (2) years from the date of this Agreement.  Neither the Company nor any Subsidiary has received, since the date of the latest
audited financial statements included within the SEC Reports, a written notice of a claim or otherwise has any knowledge that the Intellectual Property Rights violate or infringe upon the rights
of any Person, except as could not have or reasonably be expected to not have a Material Adverse Effect.  To the knowledge of the Company, all such Intellectual Property Rights are
enforceable and there is no existing infringement by another Person of any of the Intellectual Property Rights.  The Company and its Subsidiaries have taken reasonable security measures to
protect the secrecy, confidentiality and value of all of their intellectual properties, except where failure to do so could not, individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect.

	   Insurance.  The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such
amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged, including, but not limited to, directors and officers insurance coverage at
least equal to $20 million.  Neither the Company nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage
expires or to obtain similar coverage from similar insurers as may be necessary to continue its business without a significant increase in cost.

	   Transactions With Affiliates and Employees.  Except as set forth in Schedule 3.1(r), none of the officers or directors of the Company or any
Subsidiary and, to the knowledge of the Company, none of the employees of the Company or any Subsidiary is presently a party to any transaction with the Company or any Subsidiary (other
than for services as employees, officers and directors), including any contract, agreement or other arrangement providing for the furnishing of services to or by, providing for rental of real or
personal property to or from providing for the borrowing of money from or lending of money to, or otherwise requiring payments to or from any officer, director or such employee or, to the
knowledge of the Company, any entity in which any officer, director, or any such employee has a substantial interest or is an officer, director, trustee, shareholder, member or partner, in each
case in excess of $120,000, other than for:  (i) payment of salary or consulting fees for services rendered, (ii) reimbursement for expenses incurred on behalf of the Company and (iii) other
employee benefits, including stock option and restricted stock unit agreements under any equity incentive plan of the Company.

                                                                22

	   Sarbanes-Oxley; Internal Accounting Controls.  The Company and the Subsidiaries are in compliance with any and all applicable requirements of the
Sarbanes-Oxley Act of 2002, as amended, that are effective as of the date hereof, and any and all applicable rules and regulations promulgated by the Commission thereunder that are
effective as of the date hereof and as of the Closing Date.  The Company and the Subsidiaries maintain a system of internal accounting controls sufficient to provide reasonable assurance
that:  (i) transactions are executed in accordance with management's general or specific authorizations, (ii) transactions are recorded as necessary to permit preparation of financial
statements in conformity with GAAP and to maintain asset accountability, (iii) access to assets is permitted only in accordance with management's general or specific authorization, and (iv)
the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences.  The Company and the
Subsidiaries have established disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the Company and the Subsidiaries and designed such
disclosure controls and procedures to ensure that information required to be disclosed by the Company in the reports it files or submits under the Exchange Act is recorded, processed,
summarized and reported, within the time periods specified in the Commission's rules and forms.  The Company's certifying officers have evaluated the effectiveness of the disclosure
controls and procedures of the Company and the Subsidiaries as of the end of the period covered by the most recently filed periodic report under the Exchange Act (such date, the
"Evaluation Date").  The Company presented in its most recently filed periodic report under the Exchange Act the conclusions of the certifying officers about the
effectiveness of the disclosure controls and procedures based on their evaluations as of the Evaluation Date.  Since the Evaluation Date, there have been no changes in the internal control
over financial reporting (as such term is defined in the Exchange Act) that have materially affected, or is reasonably likely to materially affect, the internal control over financial reporting of the
Company or its Subsidiaries.

	   Certain Fees.  No brokerage or finder's fees or commissions are or will be payable by the Company or any Subsidiaries to any broker, financial advisor
or consultant, finder, placement agent, investment banker, bank or other Person with respect to the transactions contemplated by the Transaction Documents, other than the Placement
Agent.  With respect to any fees or commissions payable to the Placement Agent as a result of the transactions contemplated hereby, (i) the Company shall not issue to the Placement Agent
any Common Stock or Common Stock Equivalents as payment therefor, and (ii) the Company shall pay, and hold each Purchaser harmless against any liability, loss or expense (including,
without limitation, attorney's fees and out-of-pocket expenses) arising in connection with such claim.  The Purchasers shall have no obligation with respect to any fees or with respect to any
claims made by or on behalf of other Persons for fees of a type contemplated in this Section 3.1(t) that may be due in connection with the transactions contemplated by the Transaction
Documents.  

	   Private Placement.  Assuming the accuracy of the Purchasers' representations and warranties set forth in Section 3.2, no registration under the
Securities Act is required for the offer and sale of the Securities by the Company to the Purchasers

                                                                23

as contemplated hereby.  The issuance and sale of the Securities hereunder does not contravene the rules and regulations of the principal Trading Market.

	   Investment Company.  Neither the Company nor any Subsidiary is, nor is an Affiliate of, and immediately after receipt of payment for the Securities, will
not be or be an Affiliate of, an "investment company" within the meaning of the Investment Company Act of 1940, as amended.  The Company and its Subsidiaries shall conduct
their respective businesses in a manner so that none will become an "investment company" subject to registration under the Investment Company Act of 1940, as
amended.

	Registration Rights.  Other than each of the Purchasers, no Person has any right to cause
the Company to effect the registration under the Securities Act of any securities of the Company or any Subsidiaries.

	   Listing and Maintenance Requirements.  The Common Stock is registered pursuant to Section 12(b) or 12(g) of the Exchange Act, and the Company has
taken no action designed to, or which is likely to have the effect of, terminating the registration of the Common Stock under the Exchange Act nor has the Company received any notification
that the Commission is contemplating terminating such registration.  The Company has not, in the 12 months preceding the date hereof, received notice from any Trading Market on which the
Common Stock is or has been listed or quoted to the effect that the Company is not in compliance with the listing or maintenance requirements of such Trading Market.  The Company is, and
has no reason to believe that it will not in the foreseeable future continue to be, in compliance with all such listing and maintenance requirements.  The Common Stock is currently eligible for
electronic transfer through the Depository Trust Company or another established clearing corporation, and the Company is current in payment of the fees to the Depository Trust Company (or
such other established clearing corporation) in connection with such electronic transfer.

	   Application of Takeover Protections.  The Company and the Board of Directors have taken all necessary action, if any, in order to render inapplicable any
control share acquisition, business combination, poison pill (including any distribution under a rights agreement) or other similar anti-takeover provision under the Company's articles of
incorporation (or similar charter documents) or the laws of its state of incorporation that is or could become applicable to the Purchasers as a result of the Purchasers and the Company
fulfilling their obligations or exercising their rights under the Transaction Documents, including without limitation, as a result of the Company's issuance of the Securities and the Purchasers'
ownership of the Securities.

	   Disclosure.  Except with respect to the material terms and conditions of the transactions contemplated by the Transaction Documents, the Company
confirms that neither it nor any other Person acting on its behalf has provided any of the Purchasers or their agents or counsel with any information that it believes constitutes or might
constitute material, non-public information.  The Company understands and confirms that the Purchasers will rely on the foregoing representation in effecting transactions in

                                                                24

securities of the Company.  All of the disclosure furnished by or on behalf of the Company to the Purchasers regarding the Company and its Subsidiaries, their respective businesses and the transactions
contemplated hereby, including the Disclosure Schedules to this Agreement, is true and correct and does not contain any untrue statement of a material fact or omit to state any material fact
necessary in order to make the statements made therein, in light of the circumstances under which they were made, not misleading.  The press releases disseminated by the Company during
the twelve (12) months preceding the date of this Agreement taken as a whole do not 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 and when made, not misleading.  The Company acknowledges and
agrees that no Purchaser makes or has made any representations or warranties with respect to the transactions contemplated hereby other than those specifically set forth in Section 3.2
hereof.

	   No Integrated Offering.  Assuming the accuracy of the Purchasers' representations and warranties set forth in Section 3.2, neither the
Company, nor any of its Affiliates, nor any Person acting on its or their behalf has, directly or indirectly, made any offers or sales of any security or solicited any offers to buy any security,
under circumstances that would cause this offering of the Securities to be integrated with prior offerings by the Company for purposes of (i) the Securities Act which would require the
registration of any such securities under the Securities Act, or (ii) any applicable shareholder approval provisions of any Trading Market on which any of the securities of the Company are
listed or designated. 

	Solvency.  Based on the consolidated financial condition of the Company as of the Closing Date, after giving effect to the receipt by the Company of the
proceeds from the sale of the Securities hereunder:  (i) the fair saleable value of the Company's assets exceeds the amount that will be required to be paid on or in respect of the Company's
existing debts (including known contingent liabilities) as they mature, (ii) the Company's assets do not constitute unreasonably small capital to carry on its business as now conducted and as
proposed to be conducted including its capital needs taking into account the particular capital requirements of the business conducted by the Company, consolidated and projected capital
requirements and capital availability thereof, and (iii) the current cash flow of the Company, together with the proceeds the Company would receive, were it to liquidate all of its assets, after
taking into account all anticipated uses of the cash, would be sufficient to pay all amounts on or in respect of its liabilities when such amounts are required to be paid.  The Company does not
intend to incur debts or believes it will incur debts beyond its ability to pay such debts as they mature (taking into account the timing and amounts of cash to be payable on or in respect of its
debt).  The Company has no knowledge of any facts or circumstances which lead it to believe that it will file for reorganization or liquidation under the bankruptcy or reorganization laws of any
jurisdiction within one year from the Closing Date.  Schedule 3.1(bb) sets forth as of the date hereof all outstanding secured and unsecured Indebtedness of the Company or any
Subsidiary, or for which the Company or any Subsidiary has commitments.  

                                                                25

	   Tax Status.  Except for matters that would not, individually or in the aggregate, have or reasonably be expected to result in a Material Adverse Effect, the
Company and its Subsidiaries each (i) has made or filed all United States federal, state and local income and all foreign income and franchise tax returns, reports and declarations required by
any jurisdiction to which it is subject, (ii) has paid all taxes and other governmental assessments and charges that are material in amount, shown or determined to be due on such returns,
reports and declarations and (iii) has set aside on its books provision reasonably adequate for the payment of all material taxes for periods subsequent to the periods to which such returns,
reports or declarations apply.  There are no unpaid taxes in any material amount claimed to be due by the taxing authority of any jurisdiction, and the officers of the Company or any
Subsidiary know of no basis for any such claim.

	   No General Solicitation.  Neither the Company nor any Person acting on behalf of the Company has offered or sold any of the Securities by any form of
general solicitation or general advertising.  

	   Foreign Corrupt Practices.  Neither the Company nor any Subsidiary, nor to the knowledge of the Company or any Subsidiary, any agent or other person
acting on behalf of the Company or any Subsidiary, has:  (i) directly or indirectly, used any funds for unlawful contributions, gifts, entertainment or other unlawful expenses related to foreign or
domestic political activity, (ii) made any unlawful payment to foreign or domestic government officials or employees or to any foreign or domestic political parties or campaigns from corporate
funds, (iii) failed to disclose fully any contribution made by the Company or any Subsidiary (or made by any Person acting on its behalf of which the Company is aware) which is in violation of
law or (iv) violated in any material respect any provision of FCPA.

	   Accountants.  The Company's accounting firm is set forth on Schedule 3.1(ff).  To the knowledge and belief of the Company, such accounting
firm:  (i) is a registered public accounting firm as required by the Exchange Act and (ii) shall express its opinion with respect to the financial statements to be included in the Company's
Annual Report for the fiscal year ending June 30, 2015.

	   Seniority.  As of the Closing Date, except as set forth on Schedule 3.1(gg), all payments due under the Debentures shall rank senior to all other
Indebtedness of the Company and its Subsidiaries, except as provided by the Debentures, the Intercreditor Agreement  or any or other Intercreditor Agreement entered into in connection with
the Debentures. 

	   No Disagreements with Accountants and Lawyers.  There are no disagreements of any kind presently existing, or reasonably anticipated by the
Company to arise, between the Company and the accountants and lawyers formerly or presently employed by the Company, and the Company is current with respect to any fees owed to its
accountants and lawyers which could affect the Company's ability to perform any of its obligations under any of the Transaction Documents.

                                                                26

	   Acknowledgment Regarding Purchasers' Purchase of Securities.  The Company acknowledges and agrees that each of the Purchasers is acting solely in
the capacity of an arm's length purchaser with respect to the Transaction Documents and the transactions contemplated thereby.  The Company further acknowledges that no Purchaser is
acting as a financial advisor or fiduciary of the Company (or in any similar capacity) with respect to the Transaction Documents and the transactions contemplated thereby, and any advice
given by any Purchaser or any of their respective representatives or agents in connection with the Transaction Documents and the transactions contemplated thereby is merely incidental to
the Purchasers' purchase of the Securities.  The Company further represents to each Purchaser that the Company's decision to enter into this Agreement and the other Transaction
Documents has been based solely on the independent evaluation of the transactions contemplated hereby by the Company and its representatives.

	   Acknowledgment Regarding Purchaser's Trading Activity.  Anything in this Agreement or elsewhere herein to the contrary notwithstanding (except for
Sections 3.2(g) and 4.15 hereof), it is understood and acknowledged by the Company that:  (i) none of the Purchasers has been asked by the Company to agree, nor has any Purchaser
agreed, to desist from purchasing or selling, long and/or short, securities of the Company, or "derivative" securities based on securities issued by the Company or to hold the
Securities for any specified term, (ii) past or future open market or other transactions by any Purchaser, specifically including, without limitation, Short Sales or "derivative"
transactions, before or after the closing of this or future private placement transactions, may negatively impact the market price of the Company's publicly-traded securities, (iii) any Purchaser,
and counter-parties in "derivative" transactions to which any such Purchaser is a party, directly or indirectly, may presently have a "short" position in the Common Stock
and (iv) each Purchaser shall not be deemed to have any affiliation with or control over any arm's length counter-party in any "derivative" transaction.  The Company further
understands and acknowledges that (y) one or more Purchasers may engage in hedging activities at various times during the period that the Securities are outstanding, including, without
limitation, during the periods that the value of the Underlying Shares deliverable with respect to Securities are being determined, and (z) such hedging activities (if any) could reduce the value
of the existing shareholders' equity interests in the Company at and after the time that the hedging activities are being conducted.  The Company acknowledges that such aforementioned
hedging activities do not constitute a breach of any of the Transaction Documents.

	   Regulation M Compliance.  The Company has not, and to its knowledge no one acting on its behalf has, (i) taken, directly or indirectly, any action
designed to cause or to result in the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of any of the Securities, (ii) sold, bid for, purchased,
or paid any compensation for soliciting purchases of, any of the Securities, or (iii) paid or agreed to pay to any Person any compensation for soliciting another to purchase any other securities
of the Company, other than, in the case of clauses (ii) and (iii), compensation paid to the Placement Agent in connection with the placement of the Securities.

                                                                27

	   Form S-3 Eligibility.  The Company is eligible to register the resale of the Underlying Shares for resale by the Purchasers on Form S-3
promulgated under the Securities Act.

	   Stock Option Plans.  Each stock option granted by the Company under the Company's equity incentive plan was granted (i) in accordance with the terms
of the Company's equity incentive plan and (ii) with an exercise price at least equal to the fair market value of the Common Stock on the date such stock option would be considered granted
under GAAP and applicable law.  No stock option granted under the Company's equity incentive plan has been backdated.  The Company has not knowingly granted, and there is no and has
been no Company policy or practice to knowingly grant, stock options prior to, or otherwise knowingly coordinate the grant of stock options with, the release or other public announcement of
material information regarding the Company or its Subsidiaries or their financial results or prospects. The number of shares of Common Stock issuable upon the exercise of outstanding stock
options scheduled to expire (i) on March 9, 2015 does not exceed 295,000 and (ii) on June 14, 2014 does not exceed 105,000, in each case as adjusted for reverse and forward stock splits,
stock dividends, stock combinations and similar transactions occurring after the date hereof.

	   Office of Foreign Assets Control.  Neither the Company nor any Subsidiary nor, to the Company's knowledge, any director, officer, agent, employee or
Affiliate of the Company or any Subsidiary, is currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury Department
("OFAC").

	   U.S. Real Property Holding Corporation.  The Company is not and has never been a U.S. real property holding corporation within the meaning of Section
897 of the Code, and the Company shall so certify upon Purchaser's request.

	   Bank Holding Company Act.  Neither the Company nor any of its Subsidiaries or Affiliates is subject to the Bank Holding Company Act of 1956, as
amended (the "BHCA") and to regulation by the Board of Governors of the Federal Reserve System (the "Federal Reserve").  Neither the Company
nor any of its Subsidiaries or Affiliates owns or controls, directly or indirectly, five percent (5%) or more of the outstanding shares of any class of voting securities or twenty-five percent (25%)
or more of the total equity of a bank or any entity that is subject to the BHCA and to regulation by the Federal Reserve.  Neither the Company nor any of its Subsidiaries or Affiliates exercises
a controlling influence over the management or policies of a bank or any entity that is subject to the BHCA and to regulation by the Federal Reserve.

	   Money Laundering.  The operations of the Company and its Subsidiaries are and have been conducted at all times in compliance with applicable
financial record-keeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, applicable money laundering statutes and applicable rules
and regulations thereunder (collectively, the "Money Laundering Laws"), and no Action or Proceeding by or before any court or governmental agency, authority or body or any

                                                                28

arbitrator involving the Company or any Subsidiary with respect to the Money Laundering Laws is pending or, to the knowledge of the Company, or any Subsidiary, threatened.

	   No Disqualification Events. With respect to the Securities to be offered and sold hereunder in reliance on Rule 506(b) under the Securities Act, none of
the Company, any of its predecessors, any affiliated issuer, any director, executive officer, other officer of the Company participating in the offering hereunder, any beneficial owner of twenty
percent (20%) or more of the Company's outstanding voting equity securities, calculated on the basis of voting power, nor any promoter (as that term is defined in Rule 405 under the
Securities Act) connected with the Company in any capacity at the time of sale (each, an "Issuer Covered Person" and, together, "Issuer Covered Persons") is subject to
any of the "Bad Actor" disqualifications described in Rule 506(d)(1)(i) to (viii) under the Securities Act (a "Disqualification Event"), except for a Disqualification Event covered by Rule
506(d)(2) or (d)(3).  The Company has exercised reasonable care to determine whether any Issuer Covered Person is subject to a Disqualification Event.  The Company has complied, to the
extent applicable, with its disclosure obligations under Rule 506(e), and has furnished to the Purchasers a copy of any disclosures provided thereunder upon request.

	   Other Covered Persons.  Other than the Placement Agent, the Company is not aware of any person (other than any Issuer Covered Person) that has
been or will be paid (directly or indirectly) remuneration for solicitation of purchasers in connection with the sale of any Regulation D Securities.

	   Notice of Disqualification Events.  The Company will notify the Purchasers and the Placement Agent in writing, prior to the Closing Date of (i) any
Disqualification Event relating to any Issuer Covered Person and (ii) any event that would, with the passage of time, become a Disqualification Event relating to any Issuer Covered
Person.

	   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 its Exchange Act filings and is not so disclosed or that otherwise would be reasonably likely
to have a Material Adverse Effect.

	   Transfer Taxes.  On the Closing Date, all stock transfer or other taxes (other than income or similar taxes) which are required to be paid in
connection with the sale and transfer of the Securities to be sold to each Purchaser hereunder will be, or will have been, fully paid or provided for by the Company, and all laws imposing such
taxes will be or will have been complied with.

	   Franchise Taxes. There are no unpaid franchise taxes claimed by the taxing authority of any jurisdiction to be due by the Company or any Subsidiary,
and the officers of the Company or any Subsidiary know of no basis for any such claim.

                                                                29

3.2   Representations and Warranties of the Purchasers.  Each Purchaser, for itself and for no other Purchaser, hereby represents and warrants as of the date
hereof and as of the Closing Date to the Company as follows (unless as of a specific date therein):

	   Organization; Authority.  Such Purchaser is either an individual or an entity duly incorporated or formed, validly existing and in good standing under the
laws of the jurisdiction of its incorporation or formation with full right, corporate, partnership, limited liability company or similar power and authority to enter into and to consummate the
transactions contemplated by the Transaction Documents and otherwise to carry out its obligations hereunder and thereunder.  The execution and delivery of the Transaction Documents and
performance by such Purchaser of the transactions contemplated by the Transaction Documents have been duly authorized by all necessary corporate, partnership, limited liability company
or similar action, as applicable, on the part of such Purchaser.  Each Transaction Document to which it is a party has been duly executed by such Purchaser, and when delivered by such
Purchaser in accordance with the terms hereof, will constitute the valid and legally binding obligation of such Purchaser, enforceable against it in accordance with its terms, except:  (i) as
limited by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors' rights
generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies, and (iii) insofar as indemnification and contribution provisions
may be limited by applicable law.

	   Own Account.  Such Purchaser understands that the Securities are "restricted securities" and have not been registered under the Securities
Act or any applicable state securities law and is acquiring the Securities as principal for its own account and not with a view to or for distributing or reselling such Securities or any part thereof
in violation of the Securities Act or any applicable state securities law, has no present intention of distributing any of such Securities in violation of the Securities Act or any applicable state
securities law and has no direct or indirect arrangement or understandings with any other Persons to distribute or regarding the distribution of such Securities in violation of the Securities Act
or any applicable state securities law (this representation and warranty not limiting such Purchaser's right to sell the Securities pursuant to the Registration Statement or otherwise in
compliance with applicable federal and state securities laws and not constituting an agreement by such Purchaser to hold any of the Securities for any minimum or specific term).  Such
Purchaser is acquiring the Securities hereunder in the ordinary course of its business.

	   Purchaser Status.  At the time such Purchaser was offered the Securities, it was, and as of the date hereof it is, and on each date on which it exercises
any Warrants or converts any Debentures it will be either:  (i) an "accredited investor" as defined in Rule 501(a)(1), (a)(2), (a)(3), (a)(7) or (a)(8) under the Securities Act or (ii) a
"qualified institutional buyer" as defined in Rule 144A(a) under the Securities Act.

	   Experience of Such Purchaser.  Such Purchaser, either alone or together with its representatives, has such knowledge, sophistication and experience in business

                                                                30

and financial matters so as to be capable of evaluating the merits and risks of the prospective investment in the Securities, and has so evaluated the merits and risks of such
investment.  Such Purchaser is able to bear the economic risk of an investment in the Securities and, at the present time, is able to afford a complete loss of such investment.

	   General Solicitation.  To such Purchaser's knowledge, such Purchaser is not purchasing the Securities as a result of any advertisement, article, notice or
other communication regarding the Securities published in any newspaper, magazine or similar media or broadcast over television or radio or presented at any seminar.

	Access to Information.  Such Purchaser acknowledges that it has had the opportunity to review the Transaction Documents and
the SEC Reports and has been afforded (i) the opportunity to ask such questions as it has deemed necessary of, and to receive answers from, representatives of the Company concerning
the terms and conditions of the offering of the Securities and the merits and risks of investing in the Securities; (ii) access to information about the Company and its financial condition, results
of operations, business, properties, management and prospects sufficient to enable it to evaluate its investment; and (iii) the opportunity to obtain such additional information that the
Company possesses or can acquire without unreasonable effort or expense that is necessary to make an informed investment decision with respect to the investment.  Such Purchaser
acknowledges and agrees that neither the Placement Agent nor any Affiliate of the Placement Agent has provided such Purchaser with any information or advice with respect to the Securities
nor is such information or advice necessary or desired.  Neither the Placement Agent nor any Affiliate has made or makes any representation as to the Company or the quality of the
Securities and the Placement Agent and any Affiliate may have acquired non-public information with respect to the Company which such Purchaser agrees need not be provided to it.  In
connection with the issuance of the Securities to such Purchaser, neither the Placement Agent nor any of its Affiliates has acted as a financial advisor or fiduciary to such Purchaser.

	Certain Transactions and Confidentiality.  Other than consummating the transactions contemplated hereunder, such Purchaser has not directly or
indirectly, nor has any Person acting on behalf of or pursuant to any understanding with such Purchaser, executed any purchases or sales, including Short Sales, of the securities of the
Company during the period commencing as of the time that such Purchaser first received a term sheet (written or oral) from the Company or any other Person representing the Company
setting forth the material terms of the transactions contemplated hereunder and ending immediately prior to the execution hereof.  Notwithstanding the foregoing, in the case of a Purchaser
that is a multi-managed investment vehicle whereby separate portfolio managers manage separate portions of such Purchaser's assets and the portfolio managers have no direct knowledge
of the investment decisions made by the portfolio managers managing other portions of such Purchaser's assets, the representation set forth above shall only apply with respect to the portion
of assets managed by the portfolio manager that made the investment decision to purchase the Securities covered by this Agreement.  Other than to other Persons party to this Agreement or
to such Purchaser's representatives, including, without limitation, its officers, directors, partners, legal and

                                                                31

other advisors, employees, agents and Affiliates, such Purchaser has maintained
the confidentiality of all disclosures made to it in connection with this transaction (including the existence and terms of this transaction).  Notwithstanding the foregoing, for avoidance of doubt,
nothing contained herein shall constitute a representation or warranty, or preclude any actions, with respect to the identification of the availability of, or securing of,
available shares to borrow in order to effect Short Sales or similar transactions in the future.

	   Effect of Purchaser Representations.  The Company acknowledges and agrees that the representations contained in this Section 3.2 shall not modify,
amend or affect such Purchaser's right to rely on the Company's representations and warranties contained in this Agreement or any representations and warranties contained in any other
Transaction Document. 

ARTICLE IV.

                  OTHER AGREEMENTS OF THE PARTIES

4.1   Transfer Restrictions.

	The Securities may only be disposed of in compliance with state and federal securities laws.  In connection with any transfer of Securities other than pursuant to
an effective registration statement or Rule 144 or in connection with a pledge as contemplated in Section 4.1(b), the Company may require the transferor thereof to provide to the Company an
opinion of counsel selected by the transferor and reasonably acceptable to the Company, the form and substance of which opinion shall be reasonably satisfactory to the Company, to the
effect that such transfer does not require registration of such transferred Securities under the Securities Act.  As a condition of granting any transferee of Securities any rights pursuant to any
of the Transaction Documents, any such transferee shall agree in writing to be bound by the terms of this Agreement and the Registration Rights Agreement and shall have the rights and
obligations of a Purchaser under this Agreement and the Registration Rights Agreement. 

	The Purchasers agree to the imprinting, so long as is required by this Section 4.1, of a legend on any of the Securities in the following form:

[NEITHER] THIS SECURITY [NOR THE SECURITIES INTO WHICH THIS SECURITY IS [EXERCISABLE] [CONVERTIBLE]] HAS [NOT] BEEN REGISTERED WITH
THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD (I) EXCEPT PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, (II) PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE
REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS, AS

                                                                32

EVIDENCED BY A LEGAL OPINION OF COUNSEL SELECTED BY THE HOLDER TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY OR (III) UNLESS SOLD
PURSUANT TO RULE 144 OR RULE 144A UNDER SAID ACT.  THIS SECURITY [AND THE SECURITIES ISSUABLE UPON [EXERCISE] [CONVERSION] OF THIS SECURITY] MAY BE
PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES.

	The Company acknowledges and agrees that a Purchaser may from time to time pledge pursuant to a bona fide margin agreement with a registered broker-dealer
or grant a security interest in some or all of the Securities to a financial institution that is an "accredited investor" as defined in Rule 501(a) under the Securities Act.  Such pledge would not be
deemed a transfer, sale or assignment, would not be subject to approval of the Company and no legal opinion of legal counsel of the pledgee, secured party or pledgor would be required in
connection therewith.  Further, no notice shall be required of such pledge.  At such Purchaser's expense, the Company will execute and deliver such reasonable documentation as a pledgee
or secured party of the Securities may reasonably request in connection with a pledge of the Securities, including, if the Securities are subject to registration pursuant to the Registration
Rights Agreement, the preparation and filing of any required prospectus supplement under Rule 424(b)(3) under the Securities Act or other applicable provision of the Securities Act to
appropriately amend the list of Selling Stockholders (as defined in the Registration Rights Agreement) thereunder. 

	Certificates evidencing the Underlying Shares shall not contain any legend (including the legend set forth in Section 4.1(b) hereof):  (i) while a registration
statement  covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144, (iii) if such Underlying Shares are
eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and
without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements
issued by the staff of the Commission).  The Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly after the Effective Date if required by the Transfer Agent
to effect the removal of the legend hereunder.  If all or any portion of a Debenture is converted or Warrant is exercised at a time when there is an effective registration statement to cover the
resale of the Underlying Shares, or if such Underlying Shares may be sold under Rule 144 without the requirement for the Company to be in compliance with the current public information
required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or if such legend is not otherwise required under applicable requirements of the
Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission), then such Underlying Shares shall be issued free of all legends.  The Company
agrees that following the Effective Date or at such time as such legend is no longer required under this Section 4.1(c), it will, no later than three (3) Trading Days following the delivery by a
Purchaser to the Company or the Transfer Agent of a certificate representing Underlying Shares, as applicable, issued with a restrictive legend

                                                                33

(such third Trading Day, the "Legend "Removal Date"), deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends.  The Company may not
make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.  Certificates for Underlying Shares subject to
legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser's prime broker with the Depository Trust Company System as
directed by such Purchaser.

	If the Company fails to issue to any Purchaser a certificate without such legend or to deliver such Securities to the Purchaser by the Legend Removal
Date, and if on or after the Legend Removal Date such Purchaser purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by the
holder of such Securities that the holder anticipated receiving without legend from the Company (a "Buy-In"), then the Company shall, within three (3) Trading Days after the
Purchaser's request and in the Purchaser's discretion, either (i) pay cash to the Purchaser in an amount equal to the Purchaser's total purchase price (including brokerage commissions, if
any) for the shares of Common Stock so purchased (the "Buy-In Price"), at which point the Company's obligation to deliver such unlegended Securities shall terminate, or (ii)
promptly honor its obligation to deliver to the Purchaser such unlegended Securities as provided above and pay cash to the Purchaser in an amount equal to the excess (if any) of the Buy-In
Price over the product of (A) such number of shares of Common Stock, times (B) the Closing Sale Price (as defined in the Debentures) of the Common Stock on the Legend Removal Date.
Nothing herein shall limit such Purchaser's right to pursue actual damages for the Company's failure to deliver certificates representing any Securities as required by the Transaction
Documents, and such Purchaser shall have the right to pursue all remedies available to it at law or in equity including, without limitation, a decree of specific performance and/or injunctive
relief. 

	Each Purchaser, severally and not jointly with the other Purchasers, agrees with the Company that such Purchaser will sell any Securities pursuant to either the
registration requirements of the Securities Act, including any applicable prospectus delivery requirements, or an exemption therefrom, and that if Securities are sold pursuant to a Registration
Statement, they will be sold in compliance with the plan of distribution set forth therein, and acknowledges that the removal of the restrictive legend from certificates representing Securities as
set forth in this Section 4.1 is predicated upon the Company's reliance upon this understanding.

4.2   Acknowledgment of Dilution.  The Company acknowledges that the issuance of the Securities may result in dilution of the outstanding shares of Common
Stock, which dilution may be substantial under certain market conditions.  The Company further acknowledges that its obligations under the Transaction Documents, including, without
limitation, its obligation to issue the Underlying Shares pursuant to the Transaction Documents, are unconditional and absolute and not subject to any right of set off, counterclaim, delay or
reduction, regardless of the effect of any such dilution or any claim the Company may have against any Purchaser and

                                                                34

regardless of the dilutive effect that such issuance may have on the ownership of the other shareholders of the Company.

4.3   Furnishing of Information; Public Information.

	Until the earliest of the time that (i) no Purchaser owns Securities or (ii) the Warrants have expired, the Company covenants to maintain the registration of the
Common Stock under Section 12(b) or 12(g) of the Exchange Act and to timely file (or obtain extensions in respect thereof and file within the applicable grace period) all reports required to be
filed by the Company after the date hereof pursuant to the Exchange Act even if the Company is not then subject to the reporting requirements of the Exchange Act.

	At any time during the period commencing from the six (6) month anniversary of the date hereof and ending at such time that all of the Securities may be sold
without the requirement for the Company to be in compliance with Rule 144(c)(1) and otherwise without restriction or limitation pursuant to Rule 144, (i) if the Company shall fail for any
reason to satisfy the current public information requirement under Rule 144(c) or (ii) if the Company has ever been an issuer described in Rule 144(i)(1)(i) or becomes such an issuer in the
future, and the Company shall fail for any reason to satisfy any condition set forth in Rule 144(i)(2) (each of clauses (i) and (ii), a "Public Information Failure"), then, in
addition to such Purchaser's other available remedies, the Company shall pay to a Purchaser, in cash, as partial liquidated damages and not as a penalty, by reason of any such delay in or
reduction of its ability to sell the Securities, an amount in cash equal to one percent (1.0%) of the aggregate Subscription Amount of such Purchaser's Securities on the day of a Public
Information Failure and on every thirtieth (30th) day (pro rated for periods totaling less than thirty (30) days) thereafter until the earlier of (i) the date such Public Information
Failure is cured and (ii) such time that such public information is no longer required for the Purchasers to transfer the Underlying Shares pursuant to Rule 144.  The payments to which a
Purchaser shall be entitled pursuant to this Section 4.3(b) are referred to herein as "Public Information Failure Payments." Public Information Failure Payments
shall be paid on the earlier of (y) the last day of the calendar month during which such Public Information Failure Payments are incurred and (z) the third (3rd)
Business Day after the event or failure giving rise to the Public Information Failure Payments is cured.  In the event the Company fails to make Public Information Failure
Payments in a timely manner, such Public Information Failure Payments shall bear interest at the rate of 1.5% per month (prorated for partial months) until paid in full.  Nothing
herein shall limit such Purchaser's right to pursue actual damages for the Public Information Failure, and such Purchaser shall have the right to pursue all remedies available to it at law or in
equity including, without limitation, a decree of specific performance and/or injunctive relief.

4.4   Integration.  The Company shall not sell, offer for sale or solicit offers to buy or otherwise negotiate in respect of any "security" (as defined in Section 2 of
the Securities Act) that would be integrated with the offer or sale of the Securities in a manner that would require the registration under the Securities Act of the sale of the Securities or that would be integrated

                                                                35

with the offer or sale of the Securities for purposes of the rules and regulations of any Trading Market such that it would require shareholder approval prior to the closing
of such other transaction unless shareholder approval is obtained before the closing of such subsequent transaction. 

4.5   Conversion and Exercise Procedures.  Each of the form of Notice of Exercise included in the Warrants and the form of Notice of Conversion
included in the Debentures set forth the totality of the procedures required of the Purchasers in order to exercise the Warrants or convert the Debentures.  Without limiting the
preceding sentences, no ink-original Notice of Exercise or Notice of Conversion shall be required, nor shall any medallion guarantee (or other type of guarantee or notarization) of any Notice
of Exercise or Notice of Conversion form be required in order to exercise the Warrants or convert the Debenture.  No additional legal opinion, other information or instructions shall be required
of the Purchasers to exercise their Warrants or convert their Debentures.  The Company shall honor exercises of the Warrants and conversions of the Debentures and shall deliver Underlying
Shares in accordance with the terms, conditions and time periods set forth in the Transaction Documents.

4.6   Securities Laws Disclosure; Publicity.  The Company shall by 8:30 a.m. (New York City time) on the Trading Day immediately following the date hereof,
(a) issue a press release disclosing the material terms of the transactions contemplated hereby and by the MFP Documents (b) file with the Commission (i) a Current Report on Form 8-K
disclosing the material terms of the transactions contemplated by the Transaction Documents and the MFP Documents, including the Transaction Documents as exhibits thereto (the
"PIPE 8-K Filing") and (ii) a Current Report on Form 8-K disclosing the material terms of the transactions contemplated by the Pioneer Documents (the "Pioneer 8-K Filing"
and together with the PIPE 8-K Filing, the "8-K Filings").  From and after the 8-K Filings, the Company represents to the Purchasers that it shall have publicly disclosed all material,
non-public information delivered to any of the Purchasers by the Company or any of its Subsidiaries, or any of their respective officers, directors, employees or agents in connection with the
transactions contemplated by the Transaction Documents, the MFP Documents and the Pioneer Documents.  In addition, effective upon the 8-K Filings, the Company acknowledges and
agrees that any and all confidentiality or similar obligations under any agreement, whether written or oral, between the Company, any of its Subsidiaries or any of their respective officers,
directors, agents, employees or Affiliates on the one hand, and any of the Purchasers or any of their Affiliates on the other hand, shall terminate.  The Company and each Purchaser shall
consult with each other in issuing any other press releases with respect to the transactions contemplated by the Transaction Documents, the MFP Documents and the Pioneer Documents,
and neither the Company nor any Purchaser shall issue any such press release nor otherwise make any such public statement without the prior consent of the Company, with respect to any
press release of any Purchaser, or without the prior consent of the Required Holders, with respect to any press release of the Company, which consent shall not unreasonably be withheld or
delayed.  Notwithstanding the foregoing, the Company shall not publicly disclose the name of any Purchaser, or include the name of any Purchaser in any filing with the Commission or any
regulatory agency or Trading Market, without the prior written consent of such Purchaser, except:  (a) as required by federal securities law in connection with (i) any Registration Statement
contemplated by the Registration Rights Agreement and (ii) the filing of final Transaction Documents with the Commission and (b) to the

                                                                36

extent such disclosure is required by law or Trading
Market regulations, in which case the Company shall provide the Purchasers with prior notice of such disclosure permitted under this clause (b).

4.7   Shareholder Rights Plan.  No claim will be made or enforced by the Company or, with the consent of the Company, any other Person, that any Purchaser
is an "Acquiring Person" under any control share acquisition, business combination, poison pill (including any distribution under a rights agreement) or similar anti-takeover plan or
arrangement in effect or hereafter adopted by the Company, or that any Purchaser could be deemed to trigger the provisions of any such plan or arrangement, by virtue of receiving Securities
under the Transaction Documents or under any other agreement between the Company and the Purchasers.

4.8   Non-Public Information.  The Company covenants and agrees that neither it, nor any other Person acting on its behalf, will provide any Purchaser or its
agents or counsel with any information that the Company believes constitutes material non-public information, unless prior thereto such Purchaser shall have entered into a written agreement
with the Company regarding the confidentiality and use of such information.  To the extent that the Company delivers any material, non-public information to a Purchaser without such
Purchaser's consent, the Company hereby covenants and agrees that such Purchaser shall not have any duty of confidentiality to the Company, any of its Subsidiaries, or any of their
respective officers, directors, agents, employees or Affiliates, or a duty to the Company, any of its Subsidiaries, or any of their respective officers, directors, agents, employees or Affiliates not
to trade on the basis of, such material, non-public information.  The Company understands and confirms that each Purchaser shall be relying on the foregoing covenant in effecting
transactions in securities of the Company.

4.9   Use of Proceeds.  The Company shall use the net proceeds from the sale of the Securities hereunder for the payment of a portion of the purchase price
for the acquisition of assets of Pioneer Hi-Bred International, Inc. as contemplated by the Pioneer Documents and for working capital purposes and shall not use such proceeds:  (a) for the
satisfaction of any portion of the Company's Indebtedness, (b) for the redemption of any Common Stock or Common Stock Equivalents, (c) for the settlement of any outstanding litigation or
(d) in violation of FCPA or OFAC regulations.

4.10   Indemnification of Purchasers.   

	 Subject to the provisions of this Section 4.10, the Company will indemnify and hold each Purchaser and its directors, officers, shareholders, members,
partners, employees and agents (and any other Persons with a functionally equivalent role of a Person holding such titles notwithstanding a lack of such title or any other title), each Person
who "controls" such Purchaser (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act), and the directors, officers, shareholders, agents, members,
partners or employees (and any other Persons with a functionally equivalent role of a Person holding such titles notwithstanding a lack of such title or any other title) of such controlling
persons (each, a "Purchaser Party") harmless from any and all losses, liabilities, obligations, claims, contingencies, damages, costs and expenses, including all

                                                                37

judgments, amounts paid in settlements, court costs and reasonable attorneys' fees and costs of investigation that any such Purchaser Party may suffer or incur as a result of, arising out of,
or relating to (i) any breach of any of the representations, warranties, covenants or agreements made by the Company in this Agreement or in the other Transaction Documents or (ii) any
Action instituted against the Purchaser Parties in any capacity, or any of them or their respective Affiliates, by any Person who is not an Affiliate of such Purchaser Party, with respect to any of
the transactions contemplated by the Transaction Documents, any transaction financed in whole or in part, directly or indirectly, with the proceeds from the issuance of the Securities, any
disclosure made by such Purchaser Party pursuant to Section 4.6, or the status of such Purchaser Party as an investor in the Company pursuant to the transactions contemplated by the
Transaction Documents (other than (x) an Action by the Company based solely upon such Purchaser Party's breach of the Transaction Documents, (y) an Action by governmental authorities
based solely upon violations by such Purchaser Party of state or federal securities laws or (z) an Action arising solely as a result of any conduct by such Purchaser Party which has been
determined by a final, non-appealable judicial decision to constitute fraud, gross negligence or willful misconduct).  

	 If any action shall be brought against any Purchaser Party in respect of which indemnity may be sought pursuant to this Agreement, such Purchaser Party
shall promptly notify the Company in writing, and the Company shall have the right to assume the defense thereof with counsel of its own choosing reasonably acceptable to the Purchaser
Party.  Any Purchaser Party shall have the right to employ separate counsel in any such Action and participate in the defense thereof, but the fees and expenses of such counsel shall be at
the expense of such Purchaser Party except to the extent that (i) the employment thereof has been specifically authorized by the Company in writing, (ii) the Company has failed after a
reasonable period of time to assume such defense and to employ counsel or (iii) in such Action there is, in the reasonable opinion of counsel to the Purchaser Party, a material conflict on any
material issue between the position of the Company and the position of such Purchaser Party, in which case the Company shall be responsible for the reasonable fees and expenses of no
more than one such separate counsel.  The Company will not be liable to any Purchaser Party under this Agreement (y) for any settlement by a Purchaser Party effected without the
Company's prior written consent, which shall not be unreasonably withheld, conditioned or delayed or (z) to the extent, but only to the extent that a loss, claim, damage or liability is
attributable to any Purchaser Party's breach of any of the representations, warranties, covenants or agreements made by such Purchaser Party in this Agreement or in the other Transaction
Documents.  

	 The indemnification required by this Section 4.10 shall be made by periodic payments of the amount thereof during the course of the investigation or
defense, as and when bills are received or are incurred.  The indemnity agreements contained herein shall be in addition to any cause of action or similar right of any Purchaser Party against
the Company or others and any liabilities the Company may be subject to pursuant to law.

                                                                38

	Given that a Purchaser Party may be entitled to indemnification (a "Jointly Indemnifiable Purchaser 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 Purchaser Entities"), the Company acknowledges and agrees that the Company shall be fully and primarily responsible for the payment to such
Purchaser Party in respect of indemnification and advancement of expenses in connection with any such Jointly Indemnifiable Purchaser Claim, pursuant to and in accordance with the terms
of this Agreement, irrespective of any right of recovery such Purchaser Party may have from the Indemnitee-Related Purchaser Entities. Under no circumstance shall the Company be entitled
to any right of subrogation or contribution by the Indemnitee-Related Purchaser Entities and no right of recovery that such Purchaser Party may have from the Indemnitee-Related Purchaser
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 Purchaser Entities shall
make any payment to such Purchaser Party in respect of indemnification or advancement of expenses with respect to any Jointly Indemnifiable Purchaser 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 such Purchaser Party against the Company, and such 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 Purchaser Entities effectively to bring suit to enforce such rights. Each of the Indemnitee-Related Purchaser Entities shall be third-party
beneficiaries with respect to this Section 4.10, entitled to enforce this Section 4.10 against the Company as though each such Indemnitee-Related Investor Entity were a party to this
Agreement.

4.11   Reservation and Listing of Securities.

	The Company shall maintain a reserve of the Required Minimum from its duly authorized shares of Common Stock for issuance pursuant to the Transaction
Documents in such amount as may then be required to fulfill its obligations in full under the Transaction Documents.

	If, on any date, the number of authorized but unissued (and otherwise unreserved) shares of Common Stock is less than the Required Minimum on such date,
then the Board of Directors shall use reasonable best efforts to amend the Company's certificate or articles of incorporation to increase the number of authorized but unissued shares of
Common Stock to at least the Required Minimum at such time, as soon as possible and in any event not later than the 75th day after such date.

	The Company shall, if applicable:  (i) in the time and manner required by the principal Trading Market, prepare and file with such Trading Market an additional
shares listing application covering a number of shares of Common Stock at least equal to the Required Minimum on the date of such application, (ii) take all steps necessary to cause such
shares of Common Stock to be approved for listing or quotation on such

                                                                39

Trading Market as soon as possible thereafter, (iii) provide to the Purchasers evidence of such listing or quotation and
(iv) maintain the listing or quotation of such Common Stock on any date at least equal to the Required Minimum on such date on such Trading Market or another Trading Market.  The
Company agrees to maintain the eligibility of the Common Stock for electronic transfer through the Depository Trust Company or another established clearing corporation, including, without
limitation, by timely payment of fees to the Depository Trust Company or such other established clearing corporation in connection with such electronic transfer.  In addition, the Company
shall provide each shareholder entitled to vote at a special or annual meeting of the shareholders of the Company, at the earliest practical date after the Closing Date, but in no event later
than 90 days after the Closing Date, a proxy statement, substantially in the form which has been previously reviewed by the Purchasers and Schulte Roth & Zabel, LLP, at the expense
of the Company (not to exceed $5,000 with respect to the fees and expenses incurred by Schulte Roth & Zabel, LLP in connection with its review of each proxy statement for a
shareholders meeting), soliciting each shareholder's vote at such shareholder's meeting for approval of resolutions providing for the Shareholder Approval, with the recommendation of the
Board of Directors that such proposal be approved, and the Company shall solicit proxies from its shareholders in connection therewith in the same manner as all other management
proposals in such proxy statement, and all management-appointed proxyholders shall vote their proxies in favor of such proposal.  The Company shall use its reasonable best efforts to obtain
such Shareholder Approval.  If the Company does not obtain Shareholder Approval at the first meeting, the Company shall call a meeting every three (3) months thereafter to seek
Shareholder Approval until the earlier of the date Shareholder Approval is obtained or the Securities are no longer outstanding.

4.12   Participation in Future Financing. 

	From the date hereof until the date that is the two (2) year anniversary of the Closing Date, upon any issuance by the Company or any of its Subsidiaries of
Common Stock, Common Stock Equivalents for cash consideration, Indebtedness or a combination of units thereof (other than for any transactions which generate, in the aggregate from the
date hereof, gross proceeds of up to $5 million) (a "Subsequent Financing"), each Purchaser shall have the right to participate in up to its Pro Rata Portion of the
Subsequent Financing equal to 30% of the Subsequent Financing (the "Participation Maximum") and, with respect to each Purchaser that elects to purchase its
Participation Maximum, any additional portion of the securities offered in such Subsequent Financing attributable to the Participation Maximum of other Purchasers as such Purchasers shall
indicate it will purchase or acquire should the other Purchasers subscribe for less than their Participation Maximum (the "Undersubscription Amount"), on the same terms, conditions
and price provided for in the Subsequent Financing.  

	Approximately four (4) Trading Days prior to the closing of the Subsequent Financing, the Company shall deliver to each Purchaser a written notice of its intention
to effect a Subsequent Financing (a "Subsequent Financing Notice").  The Subsequent Financing Notice shall describe in reasonable detail the proposed terms of

                                                                40

such Subsequent Financing, the amount of proceeds intended to be raised thereunder and the Person or Persons through or with whom such Subsequent Financing is proposed to be effected and
shall include a term sheet or similar document relating thereto as an attachment.

	Any Purchaser desiring to participate in such Subsequent Financing must provide written notice to the Company by not later than
5:30 p.m. (New York City time) on the third (3rd) Trading Day (or in the case of a confidentially marketed public offering or registered direct offering, the next Trading Day),
after all of the Purchasers have received the Subsequent Financing Notice that the Purchaser is willing to participate in the Subsequent Financing, the amount of such Purchaser's
participation and, if such Purchaser elects to purchase all of its Pro Rata Portion of the Participation Maximum, the Undersubscription Amount, if any, that such Purchaser elects to purchase,
and representing and warranting that such Purchaser has such funds ready, willing, and available for investment on the terms set forth in the Subsequent Financing Notice.  If the Company
receives no such notice from a Purchaser as of such third (3rd) Trading Day (or the next Trading Day in the case of a confidentially marketed public offering or registered direct
offering), such Purchaser shall be deemed to have notified the Company that it does not elect to participate.

	If by 5:30 p.m. (New York City time) on the third (3rd) Trading Day (or the next Trading
Day in the case of a confidentially marketed public offering or registered direct offering), after all of the Purchasers have received the Subsequent Financing Notice, the Company receives
responses to the Subsequent Financing Notice from Purchasers seeking to purchase more than the aggregate amount of the Participation Maximum, each such Purchaser shall have the right
to purchase its Pro Rata Portion (as defined below) of the Participation Maximum.  "Pro Rata Portion" means the ratio of (x) the Subscription Amount of Securities
purchased on the Closing Date by a Purchaser participating under this Section 4.12 and (y) the sum of the aggregate Subscription Amounts of Securities purchased on the Closing Date by all
Purchasers participating under this Section 4.12.

	The Company must provide the Purchasers with a second Subsequent Financing Notice, and the Purchasers will again have the
right of participation set forth above in this Section 4.12, if the Subsequent Financing subject to the initial Subsequent Financing Notice is not consummated for any reason on the terms set
forth in such Subsequent Financing Notice within thirty (30) Trading Days after the date of the initial Subsequent Financing Notice.

	The Company and each Purchaser agree that if any Purchaser elects to participate in the Subsequent Financing, the transaction
documents related to the Subsequent Financing shall not include any term or provision whereby such Purchaser shall be required to agree to any restrictions on trading as to any of the
Securities purchased hereunder or be required to consent to any amendment to or termination of, or grant any waiver, release or the like under or in connection with, the Transaction
Documents, without the prior written consent of such Purchaser.

                                                                41

	Notwithstanding anything to the contrary in this Section 4.12 and unless otherwise agreed to by such Purchaser, the Company shall
either confirm in writing to such Purchaser that the transaction with respect to the Subsequent Financing has been abandoned or shall publicly disclose its intention to issue the securities in
the Subsequent Financing, in either case in such a manner such that such Purchaser will not be in possession of any material, non-public information, by the fourth (4th) Trading Day
following delivery of the Subsequent Financing Notice.  If by such fourth (4th) Trading Day, no public disclosure regarding a transaction with respect to the Subsequent
Financing has been made, and no notice regarding the abandonment of such transaction has been received by such Purchaser, such transaction shall be deemed to have been abandoned
and such Purchaser shall not be deemed to be in possession of any material, non-public information with respect to the Company or any of its Subsidiaries.

	Notwithstanding the foregoing, this Section 4.12 shall not apply in respect of an Exempt Issuance.

4.13   Subsequent Equity Sales. 

	From the date hereof until thirty (30) days after the Closing Date, neither the Company nor any Subsidiary shall issue, enter into any agreement to issue or
announce the issuance or proposed issuance of any shares of Common Stock or Common Stock Equivalents.  For the period beginning on the 31st day after the Closing Date and
ending on the 30th day after the Effective Date (the "Limitation Period"), neither the Company nor any Subsidiary shall issue, enter into any agreement to issue or announce the
issuance ("Limitation Period Issuances") of (i) any shares of Common Stock at a purchase price per share that is less than 110% of the Conversion Price as in effect on the Closing
Date or (ii) any Common Stock Equivalents, with an exchange price, conversion price or exercise price (or other similar price or formula) per related share of Common Stock that is less than
110% (or in the event of a Limitation Period Allowed Issuance, 100%) of the Conversion Price as in effect on the Closing Date.  For purposes hereof, "Limitation Period Allowed
Issuance" means a one-time occurrence during the Limitation Period of a Limitation Period Issuance for proceeds not exceeding $5 million in the aggregate. For purposes of calculating
any such purchase price, exchange price, exercise price or conversion price under this Section 4.13(a), the provisions of Section 3(c)(i)-(vi) of the Warrant shall apply. 

	From the date hereof until such time as no Purchaser holds any of the Debentures or Warrants, the Company and each Subsidiary shall be prohibited from
effecting or entering into an agreement to effect any issuance of Common Stock or Common Stock Equivalents (or a combination of units thereof) involving a Variable Rate Transaction.
"Variable Rate Transaction" means a transaction in which the Company (i) issues or sells any debt or equity securities that are convertible into, exchangeable or
exercisable for, or include the right to receive, additional shares of Common Stock either (A) at a conversion price, exercise price or exchange rate or other price that is based upon, and/or
varies with, the trading prices of or quotations for the shares of Common Stock at any time after the initial issuance of such debt or equity securities or (B) with a

                                                                42

conversion, exercise or exchange price that is subject to being reset at some future date after the initial issuance of such debt or equity security or upon the occurrence of specified or contingent events directly or
indirectly related to the business of the Company or the market for the Common Stock or (ii) enters into any agreement, including, but not limited to, an equity line of credit, whereby the
Company may issue securities at a future determined price.  Notwithstanding the foregoing or anything to the contrary in this Agreement, a "Variable Rate Transaction" shall not
include a transaction in which the lowest price at which Common Stock may be issued is not less than the Conversion Price.  Any Purchaser shall be entitled to obtain injunctive relief against
the Company to preclude any such issuance, which remedy shall be in addition to any right to collect damages. 

	Unless Shareholder Approval has been obtained and deemed effective, neither the Company nor any Subsidiary shall make any issuance whatsoever of Common
Stock or Common Stock Equivalents to the extent the holders of Debentures would not be permitted, pursuant to Section 4(e) of the Debentures, to convert their respective outstanding
Debentures and exercise their respective Warrants in full, ignoring for such purposes the other conversion or exercise limitations therein.  Any Purchaser shall be entitled to obtain injunctive
relief against the Company to preclude any such issuance, which remedy shall be in addition to any right to collect damages. 

	Notwithstanding the foregoing, this Section 4.13 shall not apply in respect of an Exempt Issuance, except that no Variable Rate Transaction shall be an Exempt
Issuance. 

4.14   Equal Treatment of Purchasers.  No consideration (including any modification of any Transaction Document) shall be offered or paid to any Person
to amend or consent to a waiver or modification of any provision of the Transaction Documents unless the same consideration (other than the reimbursement of legal fees provided in Section
5.2) is also offered to all of the parties to the Transaction Documents, holders of the Debentures or holders of the Warrants, as the case may be.  Further, the Company shall not make any
payment of principal or interest on the Debentures in amounts which are disproportionate to the respective principal amounts outstanding on the Debentures at any applicable time.  For
clarification purposes, this provision constitutes a separate right granted to each Purchaser by the Company and negotiated separately by each Purchaser, and is intended for the Company to
treat the Purchasers as a class and shall not in any way be construed as the Purchasers acting in concert or as a group with respect to the purchase, disposition or voting of Securities or
otherwise.

4.15   Certain Transactions and Confidentiality.  Each Purchaser, severally and not jointly with the other Purchasers, covenants that neither it, nor any Affiliate
acting on its behalf or pursuant to any understanding with it will execute any purchases or sales, including Short Sales, of any of the Company's securities during the period commencing with
the execution of this Agreement and ending at such time that the transactions contemplated by this Agreement are first publicly announced pursuant to the initial press release as described in
Section 4.6.  Each Purchaser, severally and not jointly with the other Purchasers, covenants that until such time as the transactions contemplated by this Agreement are publicly disclosed by the Company

                                                                43

pursuant to the initial press release as described in Section 4.6, such Purchaser will maintain the confidentiality of the existence and terms of the transactions contemplated by,
and the information included in, the Transaction Documents.  Notwithstanding the foregoing, and notwithstanding anything contained in this Agreement to the contrary, the Company
expressly acknowledges and agrees that (a) no Purchaser makes any representation, warranty or covenant hereby that it will not engage in effecting transactions in any securities of the
Company after the time that the transactions contemplated by this Agreement are first publicly announced pursuant to the initial press release as described in Section 4.6, (b) no Purchaser
shall be restricted or prohibited from effecting any transactions in any securities of the Company in accordance with applicable securities laws from and after the time that the transactions
contemplated by this Agreement are first publicly announced pursuant to the initial press release as described in Section 4.6 and (c) no Purchaser shall have any duty of confidentiality or duty
not to trade in the securities of the Company to the Company or its Subsidiaries after the issuance of the initial press release as described in Section 4.6.  Notwithstanding the foregoing, in
the case of a Purchaser that is a multi-managed investment vehicle whereby separate portfolio managers manage separate portions of such Purchaser's assets and the portfolio managers
have no direct knowledge of the investment decisions made by the portfolio managers managing other portions of such Purchaser's assets, the covenant set forth above shall only apply with
respect to the portion of assets managed by the portfolio manager that made the investment decision to purchase the Securities covered by this Agreement.

4.16   Form D; Blue Sky Filings.  The Company agrees to timely file a Form D with respect to the Securities as required under Regulation D and to provide a
copy thereof promptly after such filing to each Purchaser upon request.  The Company shall take such action, as the Company shall reasonably determine is necessary in order to obtain an
exemption for, or to qualify the Securities for, sale to the Purchasers on or before the Closing under applicable securities or "Blue Sky" laws of the states of the United States, and
shall provide evidence of such actions promptly to each Purchaser.  The Company shall make all filings and reports relating to the offer and sale of the Securities required under such laws
following the Closing Date. 

4.17   Capital Changes.  Until the one (1) year anniversary of the Effective Date, the Company shall not undertake a reverse or forward stock split or
reclassification of the Common Stock without the prior written consent of the Required Holders.

4.18   Lock-Up.  The Company shall not amend, modify, waive or terminate any provision of any of the Lock-Up Agreements except to extend the term of the
lock-up period and shall enforce the provisions of each Lock-Up Agreement in accordance with its terms.  If any Person that is a party to a Lock-Up Agreement breaches any provision of a
Lock-Up Agreement, the Company shall promptly use its best efforts to seek specific performance of the terms of such Lock-Up Agreement.

4.19  Voting Agreement. The Company shall use its best efforts to effectuate the transactions contemplated by the Voting Agreement. The Company shall not
amend or waive any provision of the Voting Agreement and shall enforce the provisions of the Voting Agreement in accordance with its terms. If any of the Principal Shareholders breaches any provision of the

                                                                44

Voting Agreement, the Company shall promptly use its best efforts to seek specific performance of the terms of such Voting Agreement in accordance with the terms
thereof.  In addition, if the Company receives any notice from any of the Principal Shareholders pursuant to the Voting Agreement, the Company shall promptly, but in no event later than two
(2) Business Days, deliver a copy of such notice to each Purchaser

4.20   California Properties.  In the event the Company does not effect the Real Estate Sale (as defined in the Debentures) of all or any of the California
Properties on or prior to the date that is six (6) months immediately following the Closing Date, then the Collateral Agent shall be entitled, at the expense of the Company, to perfect its
security interest in such California Properties by putting in place a mortgage thereon, which mortgage shall rank junior to any mortgage on such unsold California Property in existence and as
in effect on the date hereof. The Company and any of the Subsidiaries shall be prohibited from allowing any Lien on any of the California Properties without the prior written consent of the
Collateral Agent.

4.21   Stevia California, LLC.  The Company shall cause Stevia California, LLC to be in good standing in the
State of California on or before the date that is sixty (60) days after the date hereof.

4.22   Collateral Agent. 

	 Each Purchaser hereby (i) appoints the Hudson Bay Fund LP as the collateral agent hereunder and under the Security Documents (in such capacity, the
"Collateral Agent"), and (ii) authorizes the Collateral Agent (and its officers, directors, employees and agents) to take such action on such Purchaser's behalf in accordance with the
terms hereof and thereof.  The Collateral Agent shall not have, by reason hereof or pursuant to any Security Documents, a fiduciary relationship in respect of any Purchaser.  Neither the
Collateral Agent nor any of its officers, directors, employees and agents shall have any liability to any Purchaser for any action taken or omitted to be taken in connection hereof or the
Security Documents except to the extent caused by its own willful misconduct, and each Purchaser agrees to defend, protect, indemnify and hold harmless the Collateral Agent and all of its
officers, directors, employees and agents (collectively, the "Collateral Agent Indemnitees") from and against any losses, damages, liabilities, obligations, penalties, actions,
judgments, suits, fees, costs and expenses (including, without limitation, reasonable attorneys' fees, costs and expenses) incurred by such Collateral Agent Indemnitee, whether direct,
indirect or consequential, arising from or in connection with the performance by such Collateral Agent Indemnitee of the duties and obligations of the Collateral Agent pursuant hereto or any
of the Security Documents except to the extent caused by its own willful misconduct, including without limitation, in connection with the collection of such indemnification from the Purchasers,
up to such Purchaser's Pro Rata Indemnification Amount. In the event a Purchaser does not indemnify the Collateral Agent within five (5) Business Days of a ruling a court of competent
jurisdiction to so indemnify the Collateral Agent, the Collateral Agent shall be entitled to get indemnification from the other Purchasers for such unpaid indemnification amount up to such other
Purchasers' respective pro rata portion of such unpaid indemnification calculated by multiplying (i) the aggregate dollar amount of such unpaid indemnification

                                                                45

to the Collateral Agent, by (ii) the fraction, the numerator of which is the sum of the aggregate principal amount of the Debentures held by such Purchaser and the denominator of which is the sum of the aggregate
principal amount of the Debentures then outstanding excluding the aggregate principal amount of the Debenture held by any unpaying Purchaser. Each Purchaser may seek indemnification
from other Purchasers to the extent it indemnified the Collateral Agent pursuant to this Section 4.22(a)  in excess of such Purchaser's pro rata portion of the Debentures that are then
outstanding calculated by multiplying (i) the aggregate dollar amount of such indemnification to the Collateral Agent, by (ii) the fraction, the numerator of which is the sum of the aggregate
principal amount of the Debentures held by such Purchaser and the denominator of which is the sum of the aggregate principal amount of the Debentures then outstanding (such fraction with
respect to each holder is referred to as its "Indemnification Allocation Percentage," and such amount with respect to each holder is referred to as its "Pro Rata Indemnification
Amount"); provided, however, that in the event that any holder's Pro Rata Indemnification Amount exceeds the outstanding principal amount of such holder's
Debenture, then such excess Pro Rata Indemnification Amount shall be allocated amongst the remaining holders of Debentures in accordance with the foregoing formula.  In the event that
the initial holder of any Debentures shall sell or otherwise transfer any of such holder's Debentures, the transferee shall be allocated a pro rata portion of such holder's Indemnification
Allocation Percentage and Pro Rata Indemnification Amount.

	The Collateral Agent shall be entitled to rely upon any written notices, statements, certificates, orders or other documents or any telephone message believed
by it in good faith to be genuine and correct and to have been signed, sent or made by the proper Person, and with respect to all matters pertaining to this Agreement or any of the other
Transaction Documents and its duties hereunder or thereunder, upon advice of counsel selected by it.

	  The Collateral Agent may resign from the performance of all its functions and duties hereunder and under the Debentures and the Security Documents at
any time by giving at least ten (10) Business Days prior written notice to the Company and each holder of the Debentures.  Such resignation shall take effect upon the acceptance by a
successor Collateral Agent of appointment as provided below.  Upon any such notice of resignation, the Required Holders shall appoint a successor Collateral Agent.  Upon the acceptance of
the appointment as Collateral Agent, such successor Collateral Agent shall succeed to and become vested with all the rights, powers, privileges and duties of the retiring Collateral Agent, and
the retiring Collateral Agent shall be discharged from its duties and obligations under this Agreement, the Debentures and the Security Documents.  After any Collateral Agent's resignation
hereunder, the provisions of this Section 4.22 shall inure to its benefit.  If a successor Collateral Agent shall not have been so appointed within said ten (10) Business Day period, the retiring
Collateral Agent shall then appoint a successor Collateral Agent who shall serve until such time, if any, as the Required Holders appoints a successor Collateral Agent as provided
above.

	The Company hereby covenants and agrees to take all actions as promptly as practicable reasonably requested by either the Required Holders or the Collateral

                                                                46

Agent (or its successor), from time to time pursuant to the terms of this Section 4.22, to secure a successor Collateral Agent satisfactory to such requesting part(y)(ies), in their sole
discretion, including, without limitation, by paying all fees of such successor Collateral Agent, by having the Company agree to indemnify any successor Collateral Agent and by executing a
collateral agency agreement or similar agreement and/or any amendment to the Security Documents reasonably requested or required by the successor Collateral Agent.

4.23   Pioneer Acquisition.  In the event the transactions contemplated by the Pioneer Documents are not consummated by the date that is five (5) Business
Days immediately following the date hereof (the "Pioneer Termination Date"), the Company shall, or shall cause the Escrow Agent to, promptly but in any event on or prior to the
second (2nd) Business Day after the Pioneer Termination Date wire to each Purchaser such Purchaser's Subscription Amount and the earnings on such Subscription Amount,
if any, pursuant to wire instructions provided by such Purchaser in writing to the Company.

4.24   NASDAQ: The Company shall use its reasonable best efforts to convince NASDAQ not to integrate the transactions contemplated by the Transaction
Documents with the transactions contemplated by the MFP Documents for purposes of any Shareholder Approval requirement by the Company. 

ARTICLE V.

                  MISCELLANEOUS

5.1   Termination.  This Agreement may be terminated by the Company or any Purchaser, as to such Purchaser's obligations hereunder only and
without any effect whatsoever on the obligations between the Company and the other Purchasers, by written notice to the other parties, if the Closing has not been consummated on or before
five (5) Business Days from the date hereof due to the Company's or such Purchaser's failure to satisfy the conditions set forth in Sections 2.3(a) or 2.3(b), respectively (and the nonbreaching
party's failure to waive such unsatisfied condition(s)); provided, however, that if this Agreement is terminated pursuant to this Section 5.1, the Company shall remain
obligated to reimburse the Lead Investor or its designee(s), as applicable, for the expenses described in Section 5.2. 

5.2   Fees and Expenses.  The Company has agreed to reimburse the Lead Investor, a Purchaser, or its designee (in addition to any other expense amounts
paid to any Purchaser or its counsel prior to the date hereof) for all costs and expenses for up to $140,000 incurred in connection with the transactions contemplated hereby (including all legal
fees, disbursements, documentation, due diligence and implementation in connection therewith).  The Lead Investor may, in its sole discretion, withhold such reimbursement from its
Subscription Amount at Closing to the extent not previously reimbursed by the Company.  The Company shall be responsible for the payment of the Placement Agent's and any other
placement agent's fees, financial advisory fees, or broker's commissions (other than for Persons engaged by any Purchaser) relating to or arising out of the transactions contemplated hereby,
including any fees or commissions payable to the Placement Agent.  The Company shall pay, and hold each Purchaser harmless against any liability, loss or expense (including reasonable attorneys' fees

                                                                47

and out-of-pocket expenses) arising in connection with any claim relating to any such payment.  The Company shall pay all Transfer Agent fees (including, without limitation,
any fees required for same-day processing of any instruction letter delivered by the Company and any conversion or exercise notice delivered by a Purchaser), stamp taxes and other taxes
and duties levied in connection with the delivery of any Securities to the Purchasers.  The Company shall pay to the Collateral Agent all Collateral Agent fees including, without limitation, an
annual fee of $10,000, for its role as Collateral Agent for its services in connection with collecting the security interests and otherwise protecting,
enforcing or preserving any rights or remedies of the Purchasers under this Agreement and the Security Documents and all costs, fees and expenses related thereto.  Except as expressly set
forth in the Transaction Documents to the contrary, each party shall pay the fees and expenses of its advisers, counsel, accountants and other experts, if any, and all other expenses incurred
by such party incident to the negotiation, preparation, execution, delivery and performance of this Agreement. 

5.3   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 thereof and supersede all prior agreements and understandings, oral or written, with respect to such matters, which the parties acknowledge have
been merged into such documents, exhibits and schedules. 

5.4   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 at the facsimile number or email attachment as set forth
on the signature pages attached hereto at or prior to 5:30 p.m. (New York City time) on a Trading Day, (b) the next Trading Day after the date of transmission, if such notice or communication
is delivered via facsimile at the facsimile number or email attachment as set forth on the signature pages attached hereto on a day that is not a Trading Day or later than 5:30 p.m. (New York
City time) on any Trading Day, (c) the second (2nd) Trading Day following the date of mailing, if sent by U.S. nationally recognized overnight 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 set forth on the signature pages attached hereto.  To the
extent that any notice provided pursuant to any Transaction Document constitutes, or contains any material non-public information regarding the Company or any of its Subsidiaries, the
Company shall simultaneously file such notice with the Commission pursuant to a Current Report on Form 8-K. 

5.5   Amendments; Waivers.  No provision of this Agreement may be waived, modified, supplemented or amended except in a written instrument signed, in
the case of an amendment, by the Company and the Required Holders, in the case of a waiver, by the party against whom enforcement of any such waived provision is sought.  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 any party to exercise any right hereunder in any manner impair the exercise of any such right.  Any
proposed amendment or waiver that disproportionately and adversely affects the rights and obligations of any Purchaser relative to the comparable rights and obligations of the other Purchasers shall

                                                                48

require the prior written consent of such adversely affected Purchaser.  Any amendment effected in accordance with accordance with this Section 5.5 shall be binding upon
each Purchaser and holder of Securities and the Company.   

5.6   Headings.  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. 

5.7   Successors and Assigns.  This Agreement shall be binding upon and inure to the benefit of the parties and their successors and permitted assigns.  The
Company may not assign this Agreement or any rights or obligations hereunder without the prior written consent of each Purchaser (other than by merger).  Any Purchaser may assign any or
all of its rights under this Agreement to any Person to whom such Purchaser assigns or transfers any Securities, provided that such transferee agrees in writing to be bound, with
respect to the transferred Securities, by the provisions of the Transaction Documents that apply to the Purchasers. 

5.8   No Third Party Beneficiaries.  This Agreement is intended for the benefit of the parties hereto and their respective successors and permitted assigns and
is not for the benefit of, nor may any provision hereof be enforced by, any other Person, except as otherwise set forth in Sections 4.10, 4.22 and 5.2. 

5.9   Governing Law.  All questions concerning the construction, validity, enforcement and interpretation of the Transaction Documents 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.  Each party agrees that all legal
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, directors, officers, shareholders, partners, members, employees or agents) shall be commenced exclusively in the state and federal courts sitting in the
City of New York.  Each party 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 (including with respect to the enforcement of any of the Transaction
Documents), and hereby irrevocably waives, and agrees not to assert in any Action or Proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such
Action or Proceeding is improper or is an inconvenient venue for such Proceeding.  Each party hereby irrevocably waives personal service of process and consents to process being served in
any such Action or 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 other manner permitted by law.  If any party hereto shall commence an Action or Proceeding to enforce any provisions of the Transaction Documents, then,
in addition to the obligations of the Company under Section 4.10, the prevailing party in such Action or Proceeding shall be reimbursed by the non-prevailing party for its reasonable attorneys'
fees and other costs and expenses incurred with the investigation, preparation and prosecution of such Action or Proceeding. 

                                                                49

5.10   Survival.  Unless this Agreement is terminated under Section 5.1, the representations and warranties of the Company and each Purchaser contained in
Article 3, and the agreements and covenants set forth in Articles 4 and 5 shall survive the Closing and the delivery of the Securities. 

5.11   Execution.  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 each 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 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 or ".pdf" signature page were an original
thereof. 

5.12   Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal, void or
unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated,
and the parties hereto shall use their commercially reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by
such term, provision, covenant or restriction.  It is hereby stipulated and declared to be the intention of the parties that they would have executed the remaining terms, provisions, covenants
and restrictions without including any of such that may be hereafter declared invalid, illegal, void or unenforceable. 

5.13   Rescission and Withdrawal Right.  Notwithstanding anything to the contrary contained in (and without limiting any similar provisions of) any of the other
Transaction Documents, whenever any Purchaser exercises a right, election, demand or option under a Transaction Document and the Company does not timely perform its related
obligations within the periods therein provided, then such Purchaser may rescind or withdraw, in its sole discretion from time to time upon written notice to the Company, any relevant notice,
demand or election in whole or in part without prejudice to its future actions and rights; provided, however, that in the case of a rescission of a conversion of a Debenture or
exercise of a Warrant, the applicable Purchaser shall be required to return any shares of Common Stock subject to any such rescinded conversion or exercise notice concurrently with the
return to such Purchaser of the aggregate exercise price paid to the Company for such shares and the restoration of such Purchaser's right to acquire such shares pursuant to such
Purchaser's Warrant (including, issuance of a replacement warrant certificate evidencing such restored right). 

5.14   Replacement of Securities.  If any certificate or instrument evidencing any Securities is mutilated, lost, stolen or destroyed, the Company shall issue or
cause to be issued in exchange and substitution for and upon cancellation thereof (in the case of mutilation), or in lieu of and substitution therefor, a new certificate or instrument, but only
upon receipt of evidence reasonably satisfactory to the Company of such loss, theft or destruction.  The applicant for a new certificate or instrument under such circumstances shall also pay
any reasonable third-party costs (including customary indemnity) associated with the issuance of such replacement Securities. 

                                                                50

5.15   Remedies.  In addition to being entitled to exercise all rights provided herein or granted by law, including recovery of damages, each of the Purchasers
and the Company will be entitled to specific performance under the Transaction Documents.  The parties agree that monetary damages may not be adequate compensation for any loss
incurred by reason of any breach of obligations contained in the Transaction Documents and hereby agree to waive and not to assert in any Action for specific performance of any such
obligation the defense that a remedy at law would be adequate.   

5.16   Payment Set Aside.  To the extent that the Company makes a payment or payments to any Purchaser pursuant to any Transaction Document or a
Purchaser enforces or exercises its rights thereunder, and such payment or payments or the proceeds of such enforcement or exercise or any part thereof are subsequently invalidated,
declared to be fraudulent or preferential, set aside, recovered from, disgorged by or are required to be refunded, repaid or otherwise restored to the Company, a trustee, receiver or any other
Person under any law (including, without limitation, any bankruptcy law, state or federal law, common law or equitable cause of action), then to the extent of any such restoration the obligation
or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such enforcement or setoff had not
occurred. 

5.17   Usury.  To the extent it may lawfully do so, the Company hereby agrees not to insist upon or plead or in any manner whatsoever claim, and will resist any
and all efforts to be compelled to take the benefit or advantage of, usury laws wherever enacted, now or at any time hereafter in force, in connection with any Action or Proceeding that may
be brought by any Purchaser in order to enforce any right or remedy under any Transaction Document.  Notwithstanding any provision to the contrary contained in any Transaction Document,
it is expressly agreed and provided that the total liability of the Company under the Transaction Documents for payments in the nature of interest shall not exceed the maximum lawful rate
authorized under applicable law (the "Maximum Rate"), and, without limiting the foregoing, in no event shall any rate of interest or default interest, or both of them, when
aggregated with any other sums in the nature of interest that the Company may be obligated to pay under the Transaction Documents exceed such Maximum Rate.  It is agreed that if the
maximum contract rate of interest allowed by law and applicable to the Transaction Documents is increased or decreased by statute or any official governmental action subsequent to the date
hereof, the new maximum contract rate of interest allowed by law will be the Maximum Rate applicable to the Transaction Documents from the effective date thereof forward, unless such
application is precluded by applicable law.  If under any circumstances whatsoever, interest in excess of the Maximum Rate is paid by the Company to any Purchaser with respect to
indebtedness evidenced by the Transaction Documents, such excess shall be applied by such Purchaser to the unpaid principal balance of any such indebtedness or be refunded to the
Company, the manner of handling such excess to be at such Purchaser's election. 

5.18   Independent Nature of Purchasers' Obligations and Rights.  The obligations of each Purchaser under any Transaction Document are several and not
joint with the obligations of any other Purchaser, and no Purchaser shall be responsible in any way for the performance or non-performance of the obligations of any other Purchaser under
any Transaction Document.  Nothing contained herein or in any other Transaction Document, and no action taken by any

                                                                51

Purchaser pursuant hereto or thereto, shall be deemed to constitute
the Purchasers as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Purchasers are in any way acting in concert or as a group with
respect to such obligations or the transactions contemplated by the Transaction Documents.  Each Purchaser shall be entitled to independently protect and enforce its rights, including,
without limitation, the rights arising out of this Agreement or out of the other Transaction Documents, and it shall not be necessary for any other Purchaser to be joined as an additional party
in any Proceeding for such purpose.  Each Purchaser has been represented by its own separate legal counsel in its review and negotiation of the Transaction Documents.  For reasons of
administrative convenience only, each Purchaser and its respective counsel have chosen to communicate with the Company through EGS.  EGS does not represent any of the Purchasers
and only represents the Placement Agent.  The Company has elected to provide all Purchasers with the same terms and Transaction Documents for the convenience of the Company and not
because it was required or requested to do so by any of the Purchasers. 

5.19   Liquidated Damages.  The Company's obligations to pay any partial liquidated damages or other amounts owing under the Transaction Documents is a
continuing obligation of the Company and shall not terminate until all unpaid partial liquidated damages and other amounts have been paid notwithstanding the fact that the instrument or
security pursuant to which such partial liquidated damages or other amounts are due and payable shall have been canceled. 

5.20   Saturdays, Sundays, Holidays, etc.If the last or appointed day for the taking of any action or the expiration of any right required or granted herein
shall not be a Business Day, then such action may be taken or such right may be exercised on the next succeeding Business Day. 

5.21   Construction.  The parties agree that each of them and/or their respective counsel have reviewed and had an opportunity to revise the Transaction
Documents and, therefore, the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of the
Transaction Documents or any amendments thereto.  In addition, each and every reference to share prices and shares of Common Stock in any Transaction Document shall be subject to
adjustment for reverse and forward stock splits, stock dividends, stock combinations and other similar transactions of the Common Stock that occur after the date of this Agreement. 

5.22   WAIVER OF JURY TRIAL.  IN ANY ACTION OR PROCEEDING IN ANY JURISDICTION BROUGHT BY ANY PARTY AGAINST ANY OTHER
PARTY, THE PARTIES EACH KNOWINGLY AND INTENTIONALLY, TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY ABSOLUTELY, UNCONDITIONALLY,
IRREVOCABLY AND EXPRESSLY WAIVES FOREVER TRIAL BY JURY. 

 

(Signature Pages Follow)

                                                                52

IN WITNESS WHEREOF, the parties hereto have caused this Securities Purchase Agreement to be duly executed by their respective authorized signatories as of the
date first indicated above.

	
S&W Seed Company

 

 
	
Address for Notice:

	
By:__________________________________________

      Name:  

            Title:

With a copy to (which shall not constitute notice):
	
Fax:

	
 

 

 
	
Email Address:

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK

                   SIGNATURE PAGE FOR PURCHASER FOLLOWS]

 

                                                                53

[PURCHASER SIGNATURE PAGES TO SANW SECURITIES PURCHASE AGREEMENT]

IN WITNESS WHEREOF, the undersigned have caused this Securities Purchase Agreement to be duly executed by their respective authorized signatories as of the
date first indicated above.

Name of Purchaser:  ________________________________________________________

Signature of Authorized Signatory of Purchaser:  __________________________________

Name of Authorized Signatory:  ____________________________________________________

Title of Authorized Signatory:  _____________________________________________________

Email Address of Authorized Signatory:  _____________________________________________

Facsimile Number of Authorized Signatory:  __________________________________________

Address for Notice to Purchaser:

 

 

 

 

Address for Delivery of Securities to Purchaser (if not same as address for notice):

 

 

 

 

 

Subscription Amount:  _____________

 

Warrant Shares:  _________________

 

EIN Number:  _______________________

 

  

 

[SIGNATURE PAGES CONTINUE]

 

                                                                54December 31, 2014 Exhibit 10.2

    EXHIBIT 10.2

EXHIBIT A

NEITHER THIS SECURITY NOR THE SECURITIES INTO WHICH THIS SECURITY IS CONVERTIBLE HAVE BEEN REGISTERED WITH THE
SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD (I) EXCEPT PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE SECURITIES ACT, (II) PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE
REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF
COUNSEL SELECTED BY THE HOLDER TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY OR (III) UNLESS SOLD
PURSUANT TO RULE 144 OR RULE 144A UNDER SAID ACT.  THIS SECURITY AND THE SECURITIES ISSUABLE UPON CONVERSION OF THIS SECURITY MAY BE PLEDGED IN
CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES.

Original Issue Date: December 31, 2014

Original Conversion Price (subject to adjustment herein): $5.00

$_______________

8% SENIOR SECURED CONVERTIBLE DEBENTURE

                  DUE november 30, 2017

THIS 8% SENIOR SECURED CONVERTIBLE DEBENTURE is one of a series of duly authorized and validly issued 8% Senior Secured Convertible Debentures of
S&W Seed Company, a Nevada corporation, (the "Company"), having its principal place of business at 25552 South Butte Avenue, Five Points, CA 93624, designated
as its 8% Senior Secured Convertible Debenture due November 30, 2017 (this debenture, the "Debenture" and, collectively with the Other Debentures (as defined herein)
of such series, the "Debentures").

FOR VALUE RECEIVED, the Company promises to pay to ________________________ or its registered assigns (the "Holder"), or shall have paid
pursuant to the terms hereunder, the principal sum of $_______________ on November 30, 2017 (the "Maturity Date") or such earlier date as this Debenture is required or
permitted to be repaid as provided hereunder, and to pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Debenture in accordance with the
provisions hereof.  This Debenture is subject to the following additional provisions:

Section 1.Definitions.  For the purposes hereof, in addition to the terms defined elsewhere in this Debenture, (a) capitalized terms
not otherwise defined herein shall have the meanings set forth in the Purchase Agreement and (b) the following terms shall have the following meanings:

"Accelerated Amount" shall have the meaning set forth in Section 6(b) hereof. 

"Acceleration Notice" shall have the meaning set forth in Section 6(b) hereof. 

"Additional Pre-Monthly Redemption Shares" shall have the meaning set forth in Section 6(b) hereof. 

"Additional Pre-Monthly Redemption Shares Delivery Date" shall have the meaning set forth in Section 6(b) hereof. 

"Adjusted Conversion Price" means the greater of (i) the arithmetic average of the 10 lowest VWAPs of the Common Stock during the 20
consecutive Trading Days ending on the Trading Day that is immediately prior to the Adjustment Date (subject to adjustment for any stock dividend, stock split, stock combination or other
similar event affecting the Common Stock during such 20 Trading Day period) and (ii) $4.15 (as adjusted for any stock dividend, stock split, stock combination, reclassification or similar
transaction occurring after the Subscription Date).

"Adjustment Date" shall have the meaning set forth in Section 5(b).

"Allocation Percentage" shall have the meaning set forth in Section 6(f).

"Allocation Pro Rata Amount" shall have the meaning set forth in Section 6(f).

"Alternate Consideration" shall have the meaning set forth in Section 5(f).

                                                                2

"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 Original Issue 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 (as defined in Rule 13d-5 under the Exchange
Act) 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 Exchange Act.  For clarity, the purpose of the foregoing is to subject collectively the Holder and all other Attribution Parties
to the Beneficial Ownership Limitation.  

"Authorized Share Failure" shall have the meaning set forth in Section 4(c)(vi).

"Available Proceeds" means, with respect to the Real Estate Sale, one hundred percent (100%) of the aggregate cash proceeds generated by such event net
of any bona fide fees and commissions incurred with respect thereto and the payoff of any Permitted Indebtedness secured by any Permitted Lien on the applicable property subject to such
Real Estate Sale, and with respect to any Real Estate Sale Or Other Redemption not involving a Real Estate Sale, one hundred percent (100%) of the aggregate Real Estate Redemption
Amounts of this Debenture and the Other Debentures that the Company has elected to redeem pursuant to a Real Estate Sale Or Other Redemption.

"Bankruptcy Event" means any of the following events: (a) the Company or any Significant Subsidiary (as such term is defined in Rule 1-02(w) of
Regulation S-X) thereof commences a case or other proceeding under any bankruptcy, reorganization, arrangement, adjustment of debt, relief of debtors, dissolution, insolvency or liquidation
or similar law of any jurisdiction relating to the Company or any Significant Subsidiary thereof, (b) there is commenced against the Company or any Significant Subsidiary thereof any such case
or proceeding that is not dismissed within 60 days after commencement, (c) the Company or any Significant Subsidiary thereof is adjudicated insolvent or bankrupt or any order of relief or other
order approving any such case or proceeding is entered, (d) the Company or any Significant Subsidiary thereof suffers any appointment of any custodian or the like for it or any substantial part
of its property that is not discharged or stayed within 60 calendar days after such appointment, (e) the Company or any Significant Subsidiary thereof makes a general assignment for the
benefit of creditors, (f) the Company or any Significant Subsidiary thereof calls a meeting of its creditors with a view to arranging a composition, adjustment or restructuring of its debts, (g) the
Company or any Significant Subsidiary thereof admits in writing that it is generally unable to pay its debts as they become due, (h) the Company or any Significant Subsidiary thereof, by any
act or failure to act, expressly indicates its consent to, approval of or acquiescence in any of the foregoing or takes any corporate or other action for the purpose of effecting any of the foregoing
(without regard to the 60-day periods referenced in any of the foregoing).

"Beneficial Ownership Limitation" shall have the meaning set forth in Section 4(d). 

"Business Day" means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or any day on which
banking institutions in the State of New York are authorized or required by law or other governmental action to close.

"Buy-In" shall have the meaning set forth in Section 4(c)(v).

"Buy-In Price" shall have the meaning set forth in Section 4(c)(v).

                                                                3

"Change of Control Transaction" means any Fundamental Transaction other than (i) any reorganization, recapitalization or reclassification of the
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 respect, 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 (ii) pursuant to a migratory merger effected solely for the purpose of changing the jurisdiction of incorporation of the Company.

"Closing Bid Price" and "Closing Sale Price" means, for any security as of any date, the last closing bid price and last closing
trade price, respectively, for such security on the principal Trading Market, as reported by Bloomberg L.P., or, if the principal Trading Market begins to operate on an extended hours basis and
does not designate the closing bid price or the closing trade price, as the case may be, then the last bid price or last trade price, respectively, of such security prior to 4:00:00 p.m., New York
Time, as reported by Bloomberg L.P., or, if the foregoing do not apply, the last closing bid price or last trade price, respectively, of such security in the over-the-counter market on the electronic
bulletin board for such security as reported by Bloomberg L.P., or, if no closing bid price or last trade price, respectively, is reported for such security by Bloomberg L.P., the average of the bid
prices, or the ask prices, respectively, of any market makers for such security as reported in the OTC Link or "pink sheets" by OTC Markets Group Inc. (formerly Pink OTC Markets
Inc.).  If the Closing Bid Price or the Closing Sale Price cannot be calculated for a security on a particular date on any of the foregoing bases, the Closing Bid Price or the Closing Sale Price, as
the case may be, of such security on such date shall be the fair market value as determined by an independent appraiser selected in good faith by the Required Holders and reasonably
acceptable to the Company, the fees and expenses of which shall be paid by the Company.  All such determinations to be appropriately adjusted for any stock dividend, stock split, stock
combination, reclassification or similar transaction during the applicable calculation period.

"Company Accelerated Amount" shall have the meaning set forth in Section 6(b) hereof. 

"Company Acceleration Notice" shall have the meaning set forth in Section 6(b) hereof.

"Conversion Date" shall have the meaning set forth in Section 4(a).

"Conversion Price" shall have the meaning set forth in Section 4(b).

                                                                4

"Conversion Shares" means, collectively, the shares of Common Stock issuable pursuant to the terms of this Debenture.

"Convertible Securities" means any stock or securities (other than Options) directly or indirectly convertible into or exercisable or exchangeable for
Common Stock.

"Debenture Register" shall have the meaning set forth in Section 2(c).

"Deferral Amount" shall have the meaning set forth in Section 6(b) hereof. 

"Deferral Notice" shall have the meaning set forth in Section 6(b) hereof. 

"Disposition" means any transaction, or series of related transactions, pursuant to which any Person or any of its Subsidiaries sells, assigns, transfers, leases,
licenses (as licensor) or otherwise disposes of any property or assets to any other Person, in each case, whether or not the consideration therefor consists of cash, securities or other assets
owned by the acquiring Person.

"Distributions" shall have the meaning set forth in Section 5(e).

"DTC" shall have the meaning set forth in Section 2(a).

"Effectiveness Period" shall have the meaning set forth in the Registration Rights Agreement. 

"Equity Conditions" means (a) during the Equity Conditions Measuring Period, the Company shall have duly honored all (x) exercises of Warrants to
occur or occurring by virtue of one or more Notices of Exercise of any holder of Warrants, if any, and (y) conversions and redemptions scheduled to occur or occurring by virtue of one or more
Notices of Conversion of the Holder or any holder of the Other Debentures, if any, (b) during the Equity Conditions Measuring Period, the Company shall have timely paid all liquidated
damages and other amounts owing to the Holder in respect of this Debenture and the other Transaction Documents within 5 Business Days of when such payment is due pursuant to any such
Transaction Documents, (c) there is an effective Registration Statement pursuant to which the Holder is permitted to utilize the prospectus thereunder to resell all of the shares of Common
Stock issuable pursuant to the Transaction Documents, including without limitation, the shares of Common Stock issuable pursuant to Section 2 or 6, as applicable, and as of the applicable
date of determination there is no event described in Section 3(k) of the Registration Rights Agreement (and the Company believes, in good faith, that such effectiveness will continue
uninterrupted for the foreseeable future) or (ii) all of the shares of Common Stock issuable pursuant to the Transaction Documents, including without limitation, the shares of Common Stock
issuable pursuant to Section 2 or 6, as applicable, may be resold pursuant to Rule 144 without volume or manner-of-sale restrictions or current public information requirements and the Company shall have no

                                                                5

knowledge of any fact that would cause any such shares of Common Stock not to be eligible for sale without restriction pursuant to Rule 144 and without the
requirement to be in compliance with Rule 144(c)(1), (d) on each day during the Equity Conditions Measuring Period, the Common Stock is trading on a Trading Market and all of the shares
issuable pursuant to the Transaction Documents, including, without limitation, the shares of Common Stock issuable pursuant to the event requiring the satisfaction of the Equity Conditions, are
listed or quoted for trading on such Trading Market (and the Company believes, in good faith, that trading of the Common Stock on a Trading Market will continue uninterrupted for the
foreseeable future), (e) on each day during the Equity Conditions Measuring Period, there is a sufficient number of authorized but unissued and otherwise unreserved shares of Common Stock
for the issuance of all of the shares then issuable pursuant to the Transaction Documents, including, without limitation, for the issuance of the shares of Common Stock issuable pursuant to the
event requiring the satisfaction of the Equity Conditions, (f) during the Equity Conditions Measuring Period, there is no existing Event of Default and no existing event which, with the passage of
time or the giving of notice, would constitute an Event of Default, (g) the issuance of the shares requiring the satisfaction of the Equity Conditions to the Holder would not violate the limitations
set forth in Section 4(d) and Section 4(e) herein, (h) during the Equity Conditions Measuring Period, there has been no public announcement of a pending or proposed Fundamental
Transaction or Change of Control Transaction that has not been consummated, (i) during the Equity Conditions Measuring Period, the applicable Holder is not in possession of any information
provided by the Company, any of its Subsidiaries or any of their respective agents, Affiliates, officers, directors or employees that constitutes material non-public information, (j) on at least 20
Trading Days during the Equity Conditions Measuring Period, the daily trading volume for the Common Stock on the principal Trading Market exceeds 75,000 shares (subject to adjustment for
forward and reverse stock splits and the like occurring after the Subscription Date) per Trading Day, (k) if the event requiring the satisfaction of the Equity Conditions is the payment on interest
in shares of Common Stock, the Optional Redemption or the Forced Conversion, the Company shall have obtained the Shareholder Approval, (l) if the event requiring the satisfaction of the
Equity Conditions is an Optional Redemption, the Closing Sale Price of the Common Stock exceeds 150% of the Conversion Price on the Original Issue Date (as adjusted for any stock
dividend, stock split, stock combination, reclassification or similar transaction occurring after the Subscription Date) on at least 20 Trading Days during the Equity Conditions Measuring Period
and (m) if the event requiring the satisfaction of the Equity Conditions is a Forced Conversion, the Closing Sale Price of the Common Stock exceeds 200% of the Conversion Price on the
Original Issue Date (as adjusted for any stock dividend, stock split, stock combination, reclassification or similar transaction occurring after the Subscription Date) on at least 20 Trading Days
during the Equity Conditions Measuring Period.

"Equity Conditions Measuring Period" means each day during the period beginning thirty (30) Trading Days prior to the applicable date of
determination and ending on and including the applicable date of determination.

                                                                6

"Event of Default" shall have the meaning set forth in Section 9(a).

"Excess Shares" shall have the meaning set forth in Section 4(d) hereof.

"Forced Conversion" shall have the meaning set forth in Section 6(c).

"Forced Conversion Date" shall have the meaning set forth in Section 6(c).

"Forced Conversion Notice" shall have the meaning set forth in Section 6(c).

"Forced Conversion Notice Date" shall have the meaning set forth in Section 6(c).

"Forced Conversion Period" shall have the meaning set forth in Section 6(c).

"Fundamental Transaction" shall have the meaning set forth in Section 5(e).

"Initial Pre-Monthly Redemption Shares" shall have the meaning set forth in Section 6(b) hereof. 

"Initial Pre-Monthly Redemption Shares Delivery Date" shall mean the date that is 21st Trading Days immediately preceding the
applicable Monthly Redemption Date. 

"Intercreditor Agreement" shall have the meaning set forth in the Purchase Agreement.

"Interest Balance Shares" means, for any applicable Interest Payment Date, a number of shares of Common Stock, if any, equal to (i) the Interest
Shares for such date determined by dividing the applicable Interest Share Amount by the Interest Conversion Price minus (ii) the amount of any Pre-Interest Shares delivered in
respect of the applicable Interest Payment Date; provided, that in the event that the amount of Pre-Interest Shares exceeds the number of Interest Shares set forth in clause (i) above
(such excess, the "Interest Shares Excess"), the Interest Balance Shares shall equal zero (0) for such date and in no event shall the Interest Shares Excess reduce the
number of Pre-Interest Shares payable on the next applicable Pre-Interest Shares Delivery Date, if any.

"Interest Conversion Price" means the lesser of (a) the Conversion Price or (b) 90% of the lesser of (i) the arithmetic average of the 10 lowest
VWAPs of the Common Stock during the 20 consecutive Trading Days ending on the Trading Day that is immediately prior to the applicable Interest Payment Date or (ii) the arithmetic average
of the 10 lowest VWAPs of the Common Stock during the 20 consecutive Trading Days ending on the Trading Day that is immediately prior to the date the applicable Interest Balance Shares
are issued and delivered to the Holder if such delivery is after the applicable Interest Payment Date.  All such determinations to be appropriately adjusted

                                                                7

for any stock split, stock dividend, stock combination, reclassification or other similar transaction during such period.

"Interest Interim Period" shall have the meaning set forth in Section 2(b).

"Interest Notice" shall have the meaning set forth in Section 2(b).

"Interest Notice Date" shall have the meaning set forth in Section 2(b).

"Interest Notice Period" shall have the meaning set forth in Section 2(a).

"Interest Payment Date" shall have the meaning set forth in Section 2(a).

"Interest Rate" means 8% per annum, subject to adjustment as set forth herein.

"Interest Share Amount" shall have the meaning set forth in Section 2(a).

"Interest Shares" shall have the meaning set forth in Section 2(a).

"Issuable Maximum" shall have the meaning set forth in Section 4(e).

"Late Fees" shall have the meaning set forth in Section 2(d).

"Lead Investor" means Hudson Bay Master Fund Ltd.

"Lien" means any mortgage, lien, pledge, charge, security interest or other encumbrance upon or in any property or assets (including accounts and
contract rights) owned by the Company or any of its Subsidiaries.

"Mandatory Default Amount" means the sum of (a) the greater of (i) the outstanding principal amount of this Debenture, plus all accrued and unpaid
interest hereon, divided by the lowest Conversion Price in effect during the period beginning on the date immediately preceding such Event of Default and ending on the date the Company
pays the Mandatory Default Amount in full, multiplied by the greatest Closing Sale Price of the Common Stock during such period, or (ii) 130% of the outstanding principal amount of this
Debenture, plus 130% of accrued and unpaid interest hereon, and (b) 130% of all other amounts, costs, expenses and liquidated damages due in respect of this Debenture.

"Monthly Conversion Amount" shall have the meaning set forth in Section 6(b).

"Monthly Conversion Period" shall have the meaning set forth in Section 6(b) hereof.

                                                                8

"Monthly Conversion Price" shall have the meaning set forth in Section 6(b) hereof.

"Monthly Redemption" means the redemption of this Debenture pursuant to Section 6(b) hereof. 

"Monthly Redemption Amount" means, as to a Monthly Redemption, $______1, plus accrued but unpaid interest, liquidated damages and any other
amounts then owing to the Holder in respect of this Debenture as to the applicable Monthly Redemption Amount, including, without limitation, any applicable Accelerated Amount(s), Company
Accelerated Amount(s) and/or Deferral Amount(s), subject to adjustment by the Holder pursuant to Section 6(b).

"Monthly Redemption Balance Shares" means, for any applicable Monthly Redemption Date, a number of shares of Common Stock, if any, equal to
(i) the Monthly Redemption Shares for such date determined by dividing the applicable Monthly Redemption Amount by the Monthly Redemption Price minus (ii) the amount of
any Pre- Monthly Redemption Shares delivered in respect of the applicable Monthly Redemption Date; provided, that in the event that the amount of Pre-Monthly Redemption Shares
exceeds the number of Monthly Redemption Shares set forth in clause (i) above (such excess, the "Monthly Redemption Shares Excess"), the Monthly Redemption
Balance Shares shall equal zero (0) for such date and in no event shall the Monthly Redemption Shares Excess reduce the number of Initial Pre-Monthly Redemption Shares or Monthly
Redemption Balance Shares payable on the next applicable Initial Pre-Monthly Redemption Shares Delivery Date or Monthly Redemption Date, as applicable, if any.

"Monthly Redemption Date" means the 1st Business Day of each month, commencing on July 1, 2015, and terminating upon the full
redemption of this Debenture. 

"Monthly Redemption Notice" shall have the meaning set forth in Section 6(b) hereof. 

"Monthly Redemption Notice Date" shall have the meaning set forth in Section 6(b) hereof. 

"Monthly Conversion Price" shall have the meaning set forth in Section 6(b) hereof.

"Monthly Redemption Shares" shall have the meaning set forth in Section 6(b) hereof. 

"New York Courts" shall have the meaning set forth in Section 12(d).

___________________

1 Insert 1/28th of the principal amount outstanding on the Original Issue Date.

                                                                9

"Notice of Conversion" shall have the meaning set forth in Section 4(a).

"Optional Redemption" shall have the meaning set forth in Section 6(a).

"Optional Redemption Amount" shall have the meaning set forth in Section 6(a).

"Optional Redemption Date" shall have the meaning set forth in Section 6(a).

"Optional Redemption Notice" shall have the meaning set forth in Section 6(a).

"Optional Redemption Notice Date" shall have the meaning set forth in Section 6(a).

"Optional Redemption Period" shall have the meaning set forth in Section 6(a).

"Optional Redemption Price" means 120% of the sum of (a) the then outstanding principal amount of the Debenture, (b) the accrued but unpaid
interest (c) all other interest that would have accrued and been paid on the outstanding principal amount of the Debenture if such Debenture had been held until the Maturity Date and (d) all
liquidated damages and other amounts due in respect of the Debenture.

"Options" means any rights, warrants or options to subscribe for or purchase (i) shares of Common Stock or (ii) Convertible Securities.

"Original Issue Date" means the date of the first issuance of the Debentures, regardless of any transfers of any Debenture and regardless of the
number of instruments which may be issued to evidence such Debentures.

"Other Debentures" means the debentures of the same series as this Debenture issued by the Company pursuant to the Purchase Agreement.

"Permitted Indebtedness" means (a) the Indebtedness evidenced by this Debenture and the Other Debentures, (b) Indebtedness, liabilities or other
obligations incurred by the Company in connection with (i) those certain Credit Facility Agreements, dated as of February 21, 2014, by and between the Company and Wells Fargo Bank,
National Association (together, the "Wells Fargo Facility"), (ii) that certain Credit Facility Agreement, dated as of August 23, 2007, by and between Seed Genetics
International Pty Ltd and National Australia Bank Limited so long as the Company is not a debtor or a pledgor of assets as security under such facility (the "NAB Facility"),
(iii) any modification or amendments to the Wells Fargo Facility or NAB Facility, or (iv) any credit facility with a traditional bank lending institution replacing, refinancing or expanding the Wells
Fargo Facility or NAB Facility, provided, that in the case of the Wells Fargo Facility, such credit facility is subject to an intercreditor agreement

                                                                10

substantially on the same terms as the
Intercreditor Agreement, provided, further, that no Indebtedness described in this clause (b) shall be or become convertible, exchangeable or exercisable into Common Stock
or Common Stock Equivalents, (c) the Indebtedness existing and as in effect on the Subscription Date and set forth on Schedule 3.1(aa) attached to the Purchase Agreement,
provided, that such Indebtedness is not increased, refinanced, amended, changed or modified on or after the Subscription Date, (d) lease obligations and purchase money indebtedness,
incurred in connection with the acquisition of capital assets and lease obligations with respect to newly acquired or leased assets, (e) Indebtedness evidenced by the promissory note dated as
of December 31, 2014 made by the Company for the benefit of Pioneer Hi-Bred International, Inc. with the terms, provisions and amounts as in effect on the Subscription Date, (f) Indebtedness
that (i) is expressly subordinate to the Debentures pursuant to a written subordination agreement with the Purchasers that is acceptable to the Collateral Agent in its sole and absolute
discretion and (ii) matures at a date later than the 91st day following the Maturity Date and (g) after the termination of the Wells Fargo Facility or the NAB Facility (and any refinancing or
replacement facility in respect thereof), asset-backed lines of credit for working capital solely secured by accounts receivable and inventory.  

"Permitted Lien" means the individual and collective reference to the following: (a) Liens for taxes, assessments and other governmental charges or
levies not yet due or Liens for taxes, assessments and other governmental charges or levies being contested in good faith and by appropriate proceedings for which adequate reserves (in the
good faith judgment of the management of the Company) have been established in accordance with GAAP, (b) Liens imposed by law which were incurred in the ordinary course of the
Company's business, such as carriers', warehousemen's and mechanics' Liens, statutory landlords' Liens, and other similar Liens arising in the ordinary course of the Company's business, and
which (x) do not individually or in the aggregate materially detract from the value of such property or assets or materially impair the use thereof in the operation of the business of the Company
and its consolidated Subsidiaries or (y) are being contested in good faith by appropriate proceedings, which proceedings have the effect of preventing for the foreseeable future the forfeiture or
sale of the property or asset subject to such Lien and (c) Liens incurred in connection with Permitted Secured Indebtedness.

"Permitted Secured Indebtedness" means Permitted Indebtedness set forth in clauses (b), (e) and (g) of such definition.

"Pre-Interest Shares" shall have the meaning set forth in Section 2(a) hereof. 

"Pre-Interest Shares Delivery Date" shall have the meaning set forth in Section 2(a).

"Pre-Monthly Redemption Shares" shall have the meaning set forth in Section 6(b) hereof. 

                                                                11

"Pro Rata Amount" means a fraction (i) the numerator of which is the principal amount of this Debenture on the Closing Date and (ii) the denominator of which
is the aggregate principal amount of all Debentures issued to the initial holders of Debentures pursuant to the Purchase Agreement on the Closing Date.

"Purchase Agreement" means the Securities Purchase Agreement, dated as of the Subscription Date among the Company and the original Holders,
as amended, modified or supplemented from time to time in accordance with its terms.

"Purchase Rights" shall have the meaning set forth in Section 5(d) hereof. 

"Real Estate Sale" means any Disposition of any real estate property owned by the Company or any of the Subsidiaries in (a) Imperial Valley,
California and (b) Five Points, California.

"Real Estate Sale Or Other Redemption" shall have the meaning set forth in Section 6(a).

"Real Estate Sale Or Other Redemption Amount" shall have the meaning set forth in Section 6(d).

"Real Estate Sale Or Other Redemption Date" shall have the meaning set forth in Section 6(d).

"Real Estate Sale Or Other Redemption Notice" shall have the meaning set forth in Section 6(d).

"Real Estate Sale Or Other Redemption Notice Date" shall have the meaning set forth in Section 6(d).

"Real Estate Sale Or Other Redemption Price" shall have the meaning set forth in Section 6(d).

"Redemption" means, collectively, the Optional Redemption, the Monthly Redemptions, the Forced Conversion and the Real Estate Sale Or Other Redemption,
each of the foregoing, individually, a Redemption.

"Redemption Date" means, collectively, the Optional Redemption Date, the Monthly Redemption Date, the Forced Conversion Date and the Real Estate Sale
Or Other Redemption Date, each of the foregoing, individually, a Redemption Date.

"Redemption Price" means, collectively, the Optional Redemption Price, the Monthly Redemption Amount, the shares of Common Stock to be issued to the Holder

                                                                12

pursuant to the Forced Conversion and the Real Estate Sale Or Other Redemption Price, each of the foregoing, individually, a Redemption Date.

"Registration Rights Agreement" means the Registration Rights Agreement, dated as of the date of the Purchase Agreement, among the Company
and the original Holders, in the form of Exhibit B attached to the Purchase Agreement.

"Registration Statement" means a registration statement meeting the requirements set forth in the Registration Rights Agreement and covering the
resale of the Underlying Shares by the Holder and the holders of the Other Debentures as provided for in the Registration Rights Agreement.

"Reported Outstanding Share Number" shall have the meaning set forth in Section 4(d) hereof.

"Required Holders" means the holders of Debentures representing at least a majority of the aggregate principal amount of the Debentures then
outstanding and shall include the Lead Investor so long as the Lead Investor or any of its Affiliates holds any Debentures.

"Required Reserve Amount" shall have the meaning set forth in Section 4(c)(vi) hereof. 

"Securities Act" means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

"Share Delivery Date" shall have the meaning set forth in Section 4(c)(ii).

"Subscription Date" means December 30, 2014.

"Successor Entity" shall have the meaning set forth in Section 5(f). 

"Trading Day" means a day on which the principal Trading Market is open for trading;
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 p.m., New York Time).

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

                                                                13

"VWAP" means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then listed or quoted
on a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the nearest preceding date) on the Trading Market on which the Common Stock is then
listed or quoted as reported by Bloomberg L.P. (based on a Trading Day from 9:30 a.m. (New York City time) to 4:00 p.m. (New York City time)), (b)  if the OTC Bulletin Board is not a
Trading Market, the volume weighted average price of the Common Stock for such date (or the nearest preceding date) on the OTC Bulletin Board, (c) if the Common Stock is not then listed or
quoted for trading on the OTC Bulletin Board and if prices for the Common Stock are then reported in the "Pink Sheets" published by Pink OTC Markets, 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 Required Holders and reasonably acceptable to the Company, the fees and
expenses of which shall be paid by the Company.

Section 2.Interest.

	Payment of Interest in Cash or Kind. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of
this Debenture at the Interest Rate, payable in arrears monthly on the first Business Day of each month beginning on the first such date after the Original Issue Date, on each Monthly
Redemption Date (as to that principal amount then being redeemed), on each Conversion Date (as to that principal amount then being converted), on each Optional Redemption Date (as to
that principal amount then being redeemed), on each Forced Conversion Date (as to that principal amount then being converted), on each Real Estate Sale Or Other Redemption Date (as to
that principal amount then being redeemed), and on the Maturity Date (each such date, an "Interest Payment Date") (if any Interest Payment Date is not a Business Day,
then the applicable payment shall be due on the next succeeding Business Day) with the first Interest Payment Date being February 2, 2015, in duly authorized, validly issued, fully paid and
non-assessable shares of Common Stock at the Interest Conversion Price (the dollar amount to be paid in shares, the "Interest Share Amount" and such number of shares
determined by dividing the applicable Interest Share Amount by the Interest Conversion Price, the "Interest Shares"), or at the Company's election, in cash or a
combination thereof; provided, however, that payment of interest in shares of Common Stock may only occur if (i) all of the Equity Conditions have been met (unless waived
by the Holder in writing) during the Equity Conditions Measuring Period measured as of the applicable Interest Notice Date and through and including the later of (i) the applicable Interest
Payment Date and (ii) the date such shares of Common Stock are actually issued to the Holder (the "Interest Notice Period"), (ii) the Company shall have given the Holder
an Interest Notice (as defined in Section 2(b)) in accordance with the notice requirements set forth in Section 2(b) below and (iii) in the event the Company

                                                                14

indicates in the applicable Interest
Notice that it shall pay all or any portion of interest due on such Interest Payment Date in shares of Common Stock, the Company shall deliver on the date which is the 21st
Trading Day prior to the applicable Interest Payment Date (each, an "Pre-Interest Shares Delivery Date"), to the Holder's account with The Depository Trust Company (or
another established clearing corporation performing similar functions) (the "DTC") a number of shares of Common Stock to be applied against such Interest Share Amount
equal to the quotient of (x) the applicable Interest Share Amount divided by (y) the Interest Conversion Price assuming for purposes of the "Interest Conversion Price" definition that
the Interest Payment Date is the applicable Pre-Interest Shares Delivery Date (such number of Interest Shares, the "Pre-Interest Shares").   On each Interest Payment
Date, with respect to which the Company notified the Holder it shall pay Interest in whole or in portion in Common Stock, the Company shall deliver to the Holder a number of shares of
Common Stock equal to the applicable Interest Balance Shares.  If (i) the Company notified the Holder on the applicable Interest Notice Date that it shall pay Interest in whole or in portion in
Common Stock and (ii) as a result of such payment of Interest in Common Stock, the Holder will exceed its Beneficial Ownership Limitation and the Holder does not waive the Equity Condition
set forth in clause (g) of such definition, the Holder shall deliver a written notice to the Company on the Trading Day immediately following the applicable Interest Notice Date that such Equity
Condition is not satisfied or waived and specifying how many shares of Common Stock the Holder is able to receive without exceeding its Beneficial Ownership Limitation. 

	Company's Election to Pay Interest in Cash or Shares.  Subject to the terms and conditions herein, the decision whether to pay interest hereunder in cash,
shares of Common Stock or a combination thereof shall be at the sole discretion of the Company.  On the date which is the 23rd Trading Day prior to the applicable Interest
Payment Date (each, an "Interest Notice Date"), the Company shall deliver to the Holder a written notice (each, an "Interest Notice") of its election to
pay interest hereunder on the applicable Interest Payment Date either in cash, shares of Common Stock or a combination thereof and the Interest Share Amount as to the applicable Interest
Payment Date, provided that the Company may indicate in such notice that the election contained in such notice shall apply to future Interest Payment Dates until revised by a subsequent
notice, and, if interest is to be paid, in whole or in part, in shares of Common Stock, certifies that the Equity Conditions are satisfied as of the applicable Interest Notice Date.  The Company's
election in any Interest Notice (whether specific to an Interest Payment Date, multiple Interest Payment Dates or continuous) shall be irrevocable as to such Interest Payment Date(s).  If any of
the Equity Conditions are not satisfied as of the applicable Interest Notice Date, then unless the Company has elected to pay such interest in cash, the applicable Interest Notice shall indicate
that unless the Holder waives the Company's failure to satisfy the Equity Conditions, the interest shall be paid in cash.  If the Company confirmed the payment of the applicable Interest in
shares of Common Stock, in whole or in part, and if the Company satisfied the Equity Conditions as of the applicable Interest Notice Date but the Company fails to satisfy any Equity Condition

                                                                15

between the applicable Interest Notice Date and any time prior to the applicable Interest Payment Date (an "Interest Interim Period"), the Company shall provide the Holder
a subsequent notice to that effect indicating that unless the Holder waives the Company's failure to satisfy the Equity Conditions, the interest shall be paid in cash.  If the Company fails to
satisfy any Equity Condition (which failure is not waived in writing by the Holder) during such Interest Interim Period, then at the option of the Holder, the Holder may (i) nevertheless require the
Company to pay the amount of interest in shares of Common Stock or (ii) require the Company to pay the amount of interest (including any portion of the Pre-Interest Shares in which case the
Holder shall return such related Pre-Interest Shares, which the Holder has not otherwise sold, transferred or disposed of, to the Company) payable on the applicable Interest Payment Date in
cash.  Subject to the aforementioned conditions, failure to timely deliver such written notice to the Holder shall be deemed an election by the Company to pay the interest on such Interest
Payment Date in shares of Common Stock. At any time the Company delivers a notice to the Holder of its election to pay the interest in shares of Common Stock, the Company shall timely file
a prospectus supplement pursuant to Rule 424 disclosing such election.  The aggregate number of shares of Common Stock otherwise issuable to the Holder on an Interest Payment Date shall
be reduced by the number of Pre-Interest Shares previously issued to the Holder in connection with such Interest Payment Date on the related Pre-Interest Shares Delivery Date.  All shares of
Common Stock issued on an Pre-Interest Shares Delivery Date or an Interest Payment Date shall be validly issued, fully paid and nonassessable shares of Common Stock.  

	Interest Calculations. Interest shall be calculated on the basis of a 360-day year, consisting of twelve 30 calendar day periods, and shall accrue daily
commencing on the Original Issue Date until payment in full of the outstanding principal, together with all accrued and unpaid interest, liquidated damages and other amounts which may
become due hereunder, has been made.  Payment of interest (other than the Pre-Interest Shares issued on a Pre-Interest Shares Delivery Date) shall be made on an Interest Payment Date.
Prior to the payment of Interest on an Interest Payment Date, Interest on this Debenture shall accrue at the Interest Rate and be payable (x) upon redemption of the Debentures on the
applicable Redemption Date as provided in the provisions governing the applicable Redemption and solely for purposes of the payment of interest in shares, the Interest Payment Date shall be
deemed the applicable Redemption Date and (y) upon conversion of the Debentures on each Share Delivery Date in accordance with the Company's election or requirement to pay interest in
cash or shares of Common Stock as set forth in the most Interest Notice with respect to the Interest Payment Date immediately following the applicable Conversion Date (i) in cash by wire
transfer of immediately available funds pursuant to wire instructions delivered by the Holder in writing to the Company or (ii) in shares of Common Stock on each Share Delivery Date
in accordance with Section 4(c) and solely for purposes of the payment of interest in shares, the Interest Payment Date shall be deemed the applicable Share Delivery Date.  Interest shall
cease to accrue with respect to any principal amount converted, provided that, the Company actually delivers the Conversion Shares within the time period

                                                                16

required by Section 4(c)(ii) herein.
Interest hereunder will be paid to the Person in whose name this Debenture is registered on the records of the Company regarding registration and transfers of this Debenture (the
"Debenture Register"). Except as otherwise provided herein, if at any time the Company pays interest partially in cash and partially in shares of Common Stock to the
holders of the Debentures, then such payment of cash shall be distributed ratably among the holders of the then-outstanding Debentures based on their (or their predecessor's) initial
purchases of Debentures pursuant to the Purchase Agreement.

	Late Fee.  All overdue accrued and unpaid interest to be paid hereunder shall entail a late fee at an interest rate equal to the lesser of 18% per annum or
the maximum rate permitted by applicable law (the "Late Fees") which shall accrue daily from the date such interest is due hereunder through and including the date of
actual payment in full. Notwithstanding anything to the contrary contained herein, if, on any Interest Payment Date the Company has elected to pay accrued interest in the form of Common
Stock but the Company is not permitted to pay accrued interest in Common Stock because it fails to satisfy the conditions for payment in Common Stock set forth in Section 2(a) herein, then, at
the option of the Holder, the Company, in lieu of delivering either shares of Common Stock pursuant to
this Section 2 or paying the regularly scheduled interest payment in cash, shall deliver, within three (3) Trading Days of each applicable Interest Payment Date, an
amount in cash equal to the greater of (i) the interest amount due on such Interest Payment Date and (ii) the product of (x) the number of shares of Common Stock otherwise deliverable to the
Holder in connection with the payment of interest due on such Interest Payment Date multiplied by (y) the highest VWAP during the period commencing on the Interest Payment Date and
ending on the Trading Day prior to the date such payment is actually made.  

	Prepayment.  Except as otherwise set forth in this Debenture, the Company may not prepay any portion of the principal amount of this Debenture
without the prior written consent of the Holder. 

Section 3.Registration of Transfers and Exchanges. 

	Different Denominations. This Debenture is exchangeable for an equal aggregate principal amount of Debentures of different authorized denominations,
as requested by the Holder surrendering the same.  No service charge will be payable for such registration of transfer or exchange.

	Investment Representations. This Debenture has been issued subject to certain investment representations of the original Holder set forth in the Purchase
Agreement and may be transferred or exchanged only in compliance with the Purchase Agreement and applicable federal and state securities laws and regulations.  

                                                                17

	Reliance on Debenture Register. Prior to due presentment for transfer to the Company of this Debenture, the Company and any agent of the Company
may, absent manifest error, treat the Person in whose name this Debenture is duly registered on the Debenture Register as the owner hereof for the purpose of receiving payment as herein
provided and for all other purposes, whether or not this Debenture is overdue, and neither the Company nor any such agent shall be affected by notice to the contrary.

Section 4.Conversion.

	Voluntary Conversion. At any time after the Original Issue Date until this Debenture is no longer outstanding, this Debenture shall be convertible, in whole
or in part, into shares of Common Stock at the option of the Holder, at any time and from time to time (subject to the conversion limitations set forth in Section 4(d) and Section 4(e)
hereof).  The Holder shall effect conversions by delivering to the Company a Notice of Conversion, the form of which is attached hereto as Annex A (each, a "Notice of
Conversion"), specifying therein the principal amount of this Debenture to be converted and the date on which such conversion shall be effected (such date, the
"Conversion Date").  If no Conversion Date is specified in a Notice of Conversion, the Conversion Date shall be the date that such Notice of Conversion is deemed
delivered hereunder.  No ink-original Notice of Conversion shall be required, nor shall any medallion guarantee (or other type of guarantee or notarization) of any Notice of Conversion form be
required.  To effect conversions hereunder, the Holder shall not be required to physically surrender this Debenture to the Company unless the entire principal amount of this Debenture,
plus all accrued and unpaid interest thereon, has been so converted in which case the Holder shall surrender this Debenture as promptly as is reasonably practicable after such conversion
without delaying the Company's obligation to deliver the shares on the Share Delivery Date. Conversions hereunder shall have the effect of lowering the outstanding principal amount of this
Debenture in an amount equal to the applicable conversion.  The Holder and the Company shall maintain records showing the principal amount(s) converted and the date of such
conversion(s).  The Company shall deliver confirmation or may deliver an objection to any Notice of Conversion within one (1) Business Day of delivery of such Notice of Conversion.  In the
event of any dispute or discrepancy, the records of the Holder shall be controlling and determinative in the absence of manifest error. The Holder, and any assignee by acceptance of this
Debenture, acknowledge and agree that, by reason of the provisions of this paragraph, following conversion of a portion of this Debenture, the unpaid and unconverted principal amount of this
Debenture may be less than the amount stated on the face hereof.

	Conversion Price.  The conversion price in effect on any Conversion Date shall be equal to $5.00, subject to adjustment herein (the
"Conversion Price").

	Mechanics of Conversion.

                                                                18

	Conversion Shares Issuable Upon Conversion of Principal Amount.  The number of Conversion Shares issuable upon a conversion hereunder shall be
determined by the quotient obtained by dividing (x) the outstanding principal amount of this Debenture to be converted by (y) the Conversion Price.  

	Delivery of Certificate Upon Conversion. Not later than three (3) Trading Days after each Conversion Date (the "Share Delivery Date"), the
Company shall deliver, or cause to be delivered, to the Holder (A) the Conversion Shares being acquired upon the conversion of this Debenture and Interest Shares for any accrued interest
thereon, if the Company has indicated in the most recent Interest Notice that it has elected or is required to pay interest on the Interest Payment Date immediately following the applicable
Conversion Date in shares of Common Stock, which prior to the earlier of (i) the six month anniversary of the Original Issue Date or (ii) the Effective Date, shall be delivered in certificated form
representing the Conversion Shares being acquired upon the conversion of this Debenture and Interest Shares for any accrued interest thereon, if applicable, and (B) if the Company has
indicated in the most recent Interest Notice that it has elected or is required to pay interest on the Interest Payment Date immediately following the applicable Conversion Date in cash, accrued
interest in cash by wire transfer of immediately available funds pursuant to wire instructions delivered by the Holder in writing to the Company. On or after the earlier of (i) the six month
anniversary of the Original Issue Date and (ii) the Effective Date, the Company shall deliver any shares of Common Stock required to be delivered by the Company under this Section 4(c)
electronically through the DTC or another established clearing corporation performing similar functions without any restrictive legends or trading restrictions.  The Person or Persons entitled to
receive the shares of Common Stock issuable upon a conversion of this Debenture shall be treated for all purposes as the record holder or holders of such shares of Common Stock on the
Conversion Date, irrespective of the date such shares of Common Stock are credited to the Holder's account with DTC or the date of delivery of the certificates evidencing such Conversion
Shares, as the case may be.  

	Failure to Deliver Shares.  If, in the case of any Notice of Conversion, such certificate or certificates are not delivered to or as directed by the applicable Holder
(or the Holder's account with DTC is not credited as directed by the Holder, as applicable) by the Share Delivery Date, the Holder shall be entitled to elect by written notice to the Company at
any time on or before its receipt of such shares, to rescind such conversion, in which event the Company shall promptly return to the Holder any original Debenture delivered to the Company, if
so previously delivered to the Company, and the Holder shall promptly return to the Company the Common Stock issued to such Holder pursuant to the rescinded Notice of Conversion.

                                                                19

	Obligation Absolute; Other.  The Company's obligations to issue and deliver the Conversion Shares upon conversion of this Debenture in accordance with
the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the
recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the
Holder or any other Person of any obligation to the Company or any violation or alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which
might otherwise limit such obligation of the Company to the Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not
operate as a waiver by the Company of any such action the Company may have against the Holder.  In the event the Holder of this Debenture shall elect to convert any or all of the outstanding
principal amount hereof, the Company may not refuse conversion based on any claim that the Holder or anyone associated or affiliated with the Holder has been engaged in any violation of
law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or enjoining conversion of all or part of this Debenture shall have been sought and
obtained, and the Company posts a surety bond for the benefit of the Holder in the amount of the outstanding principal amount of this Debenture, which is subject to the injunction, which bond
shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder to the extent it obtains judgment.  In the
absence of such injunction, the Company shall issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion.  Nothing herein shall limit a Holder's right to pursue actual
damages or declare an Event of Default pursuant to Section 9 hereof for the Company's failure to deliver Conversion Shares within the period specified herein and the Holder shall have the
right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief.  The exercise of any such rights
shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

	Compensation for Buy-In on Failure to Timely Deliver Shares of Common Stock Upon Conversion. In addition to any other rights available to the Holder, if
the Company fails for any reason to deliver to the Holder such shares of Common Stock by the Share Delivery Date pursuant to Section 4(c)(ii), and if after such Share Delivery Date the Holder
is required by its brokerage firm to purchase (in an open market transaction or otherwise), or the Holder's brokerage firm otherwise purchases, shares of Common Stock to deliver in
satisfaction of a sale by the Holder of the Conversion Shares which the Holder was entitled to receive upon the conversion relating to such Share Delivery Date (a "Buy-In"),

                                                                20

then the Company shall within 3 Trading Days after the Holder's request, at the Holder's discretion either (A) pay in cash to the Holder (in addition to any other remedies
available to or elected by the Holder) the Holder's total purchase price (including any brokerage commissions and other out-of-pocket expenses, if any) for the Common Stock so purchased
(the "Buy-In Price"), at which point the Company's obligation to issue and deliver such certificate or credit the Holder's balance account with DTC for the shares of Common
Stock to which the Holder is entitled upon the Holder's conversion of the applicable portion of this Debenture shall terminate or (B) promptly honor its obligation to deliver to the Holder a
certificate or certificates representing such shares of Common Stock or credit the Holder's balance account with DTC for such shares of Common Stock, as applicable, and pay cash to the
Holder in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Common Stock, times (B) any trading price as in effect at any time during
the period beginning on the date of the applicable Notice of Conversion and ending on the applicable Share Delivery Date, and at the option of the Holder, either reinstate the Debenture for
which such conversion was not honored (in which case such conversion shall be deemed rescinded) or deliver in the manner required by Section 4(c)(ii) to the Holder the number of shares of
Common Stock that would have been issued had the Company timely complied with its conversion and delivery obligations hereunder.  The Holder shall provide the Company written notice
indicating the amounts payable to the Holder in respect of the Buy-In and, upon request of the Company, evidence of the amount of such loss.  Nothing herein shall limit a 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 Company's
failure to timely deliver shares of Common Stock upon conversion of this Debenture as required pursuant to the terms hereof.

	Reservation of Shares Issuable Upon Conversion. The Company covenants that it will at all times reserve and keep available out of its authorized and
unissued shares of Common Stock for the sole purpose of issuance upon conversion of this Debenture and payment of interest on this Debenture, each as herein provided, free from
preemptive rights or any other actual contingent purchase rights of Persons other than the Holder (and the other holders of the Debentures), not less than 130% of such aggregate number of
shares of the Common Stock as shall (subject to the terms and conditions set forth in the Purchase Agreement) be issuable (taking into account the adjustments and restrictions of Section 5)
upon the conversion of the then outstanding principal amount of this Debenture and payment of interest hereunder (the "Required Reserve Amount").  The Company
covenants that all shares of Common Stock that shall be so issuable shall, upon issue, be duly authorized, validly issued, fully paid and nonassessable and, if the Registration Statement is then
effective under the Securities Act, shall be registered for public resale in accordance with such

                                                                21

Registration Statement (subject to such Holder's compliance with its obligations under the
Registration Rights Agreement).  If at any time while any of the Debentures remain outstanding the Company does not have a sufficient number of authorized and unreserved shares of
Common Stock to satisfy its obligation to reserve for issuance upon conversion of the Debentures at least a number of shares of Common Stock equal to 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 the Debentures 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 either (x)
obtain the written consent of its shareholders for the approval of an increase in the number of authorized shares of Common Stock and provide each shareholder with an information statement
with respect thereto or (y) hold a meeting of its shareholders 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 shareholder with a proxy statement and shall use its best efforts to solicit its shareholders' approval of such increase in authorized shares of Common Stock and to
cause its Board of Directors to recommend to the shareholders that they approve such proposal.  Notwithstanding the foregoing, if during any such time of an Authorized Share Failure, the
Company is able to obtain the written consent of a majority of the shares of its issued and outstanding Common Stock to approve the increase in the number of authorized shares of Common
Stock, the Company may satisfy this obligation by obtaining such consent and submitting for filing with the Commission an Information Statement on Schedule 14C. If, upon any conversion of
this Debenture, the Company does not have sufficient authorized shares to deliver in satisfaction of such conversion, then unless the Holder elects to rescind such attempted
conversion, the Holder may require the Company to pay to the Holder within three (3) Trading Days of the applicable
attempted conversion in exchange for cancellation of the principal amount of this Debenture that is subject to such Notice of Conversion, cash in an amount equal to the product of (i) the
number of Conversion Shares that the Company is unable to deliver pursuant to this Section 4(c)(vi), and (ii) the greater of (x) the arithmetic average of the daily VWAPs of the Common Stock
during the 5 consecutive Trading Days immediately preceding the attempted conversion and (ii) the highest trading price of the Common Stock at any time on the date of the attempted
conversion (or if such date is not a Trading Day, the last Trading Day prior to such date).

	Fractional Shares. No fractional shares or scrip representing fractional shares shall be issued upon the conversion of this Debenture.  As to any fraction of
a share which the Holder would otherwise be entitled to purchase upon

                                                                22

such conversion, the Company shall round such fraction of a share of Common Stock up to the nearest whole share.

	Transfer Taxes and Expenses.  The issuance of shares of the Common Stock on conversion of this Debenture or as payment of interest on this Debenture
shall be made without charge to the Holder hereof for any documentary stamp or similar taxes that may be payable in respect of the issue or delivery of such shares.  The Company shall pay
all Transfer Agent fees required for same-day processing of any Notice of Conversion and all fees to the DTC required for same-day electronic delivery of the Conversion
Shares.

	Holder's Conversion Limitations.  The Company shall not effect any conversion of this Debenture, and a Holder shall not have the right to convert any
portion of this Debenture, if and then only to the extent that after giving effect to the conversion set forth on the applicable Notice of Conversion, the Holder together with the Holder's other
Attribution Parties would beneficially own in excess of the Beneficial Ownership Limitation (as defined below).  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 the other Attribution Parties,
plus the number of shares of Common Stock issuable upon conversion of this Debenture with respect to which such determination is being made, but shall exclude the number of shares of
Common Stock which are issuable upon (i) conversion of the remaining, unconverted principal amount of this Debenture beneficially owned by the Holder or any other Attribution Parties and (ii)
exercise or conversion of the unexercised or unconverted portion of any other securities of the Company (including, without limitation, any Common Stock Equivalents) subject to a limitation on
conversion or exercise analogous to the limitation contained herein (including, without limitation, any Other Debentures or the Warrants) beneficially owned by the Holder or any other
Attribution Parties.  For purposes of this Section 4(d), beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act and the rules and regulations
promulgated thereunder. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the
Exchange Act and the rules and regulations promulgated thereunder.   For purposes of this Section 4(d), in determining the number of outstanding shares of Common Stock, the Holder
may rely on the number of outstanding shares of Common Stock as stated in the most recent of the following: (i) the Company's most recent periodic or annual report or other public filing with
the Commission, as the case may be, (ii) a more recent public announcement by the Company, or (iii) a more recent written notice by the Company or the Company's transfer agent setting
forth the number of shares of Common Stock outstanding (the "Reported Outstanding Share Number").  Upon the written or oral request of a Holder, the Company
shall within one Trading Day confirm orally and in writing 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

                                                                23

securities of the Company, including this Debenture, by the Holder or the other Attribution Parties since
the date as of which such number of outstanding shares of Common Stock was reported. If the Company receives a Notice of Conversion 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 notify the Holder in writing of the number of shares of Common Stock then
outstanding and, to the extent that such Notice of Conversion would otherwise cause the Holder's beneficial ownership, as determined pursuant to this Section 4(d), to exceed the Beneficial
Ownership Limitation, the Holder must notify the Company of a reduced number of shares of Common Stock to be purchased pursuant to such Notice of Conversion.  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 Debenture, by the Holder and any other
Attribution Parties 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 conversion
of this Debenture results in the Holder and the other Attribution Parties being deemed to beneficially own, in the aggregate, more than the Beneficial Ownership Limitation (as determined under
Section 13(d) of the Exchange Act), the number of shares so issued by which the Holder's and the other Attribution Parties aggregate beneficial ownership exceeds the Beneficial Ownership
Limitation (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.  The "Beneficial Ownership Limitation" shall be 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of
shares of Common Stock issuable upon conversion of this Debenture held by the Holder.  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 Beneficial Ownership Limitation provisions of this Section 4(d), provided that the Beneficial Ownership Limitation in no
event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon conversion of this Debenture
held by the Holder and the provisions of this Section 4(d) shall continue to apply.  The Beneficial Ownership Limitation provisions of this paragraph shall be construed and implemented in a
manner otherwise than in strict conformity with the terms of this Section 4(d) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial
Ownership Limitation contained herein or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in
this paragraph shall apply to a successor holder of this Debenture.

	Issuance Limitations.   Notwithstanding anything herein to the contrary, if the Company has not obtained Shareholder Approval, then the Company may not
issue, upon conversion of this Debenture, a number of shares of Common Stock which, when aggregated with any shares of Common Stock issued on or after the Original Issue Date and prior
to such Conversion Date (i) in connection with the conversion of any Debentures issued pursuant to the Purchase Agreement or as Interest Shares pursuant to

                                                                24

the Debentures and (ii) in connection with the exercise of any Warrants issued pursuant to the Purchase Agreement, would exceed 1,036,594 shares of Common Stock (subject to adjustment for forward and reverse
stock splits, recapitalizations and the like occurring after the Subscription Date) (or in the event the transactions contemplated by the Transaction Documents are not integrated with the
transactions contemplated by the MFP Documents for purposes of any Shareholder Approval requirement, 2,330,594 shares of Common Stock (subject to adjustment for forward and reverse
stock splits, recapitalizations and the like occurring after the Subscription Date)) (such number of shares, the "Issuable Maximum").  The Holder
shall be entitled to a portion of the Issuable Maximum equal to the quotient obtained by dividing (x) the original principal amount of the Holder's Debenture, by (y) the aggregate original principal
amount of all Debentures issued on the Original Issue Date to all Holders.  In addition, the Holder may allocate its pro-rata portion of the Issuable Maximum among Debentures and Warrants
held by it in its sole discretion. Such portion shall be adjusted upward ratably in the event the Holder no longer holds any Debentures or Warrants and the amount of shares issued to the Holder
pursuant to the Holder's Debentures and Warrants was less than the Holder's pro-rata share of the Issuable Maximum.  In the event that the Company is prohibited from issuing any shares of
Common Stock for which a Notice of Conversion has been received as a result of not obtaining Shareholder Approval by March 31, 2015, then unless the Holder elects to rescind such
conversion, the Company shall pay cash in exchange for cancellation of the principal amount of this Debenture that is subject to such Notice of Conversion, at a price per share of Common
Stock that would have been issued upon such conversion if this Section 4(e) were not in effect, equal to the greater of (i) the arithmetic average of the daily VWAPs of the Common Stock
during the 5 consecutive Trading Days immediately preceding the attempted conversion and (ii) the highest trading price of the Common Stock at any time during the date of the attempted
conversion (or if such date is not a Trading Day, the last Trading Day prior to such date).

Section 5.Certain Adjustments.

	Stock Dividends and Stock Splits.  If the Company, at any time after the Subscription Date and until the date this Debenture is no longer outstanding: (i)
pays a stock dividend or otherwise makes a distribution or distributions payable in shares of Common Stock on shares of Common Stock or any Common Stock Equivalents (which, for
avoidance of doubt, shall not include any shares of Common Stock issued by the Company upon conversion of, or payment of interest on, the Debentures), (ii) subdivides outstanding shares of
Common Stock into a larger number of shares, (iii) combines (including by way of a reverse stock split) outstanding shares of Common Stock into a smaller number of shares or (iv) issues, in
the event of a reclassification of shares of the Common Stock, any shares of capital stock of the Company, then the Conversion Price shall be multiplied by a fraction of which the numerator
shall be the number of shares of Common Stock (excluding any treasury shares of the Company) 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

                                                                25

pursuant to this Section shall become effective immediately after the record date for the
determination of stockholders entitled to receive such dividend or distribution and shall become effective immediately after the effective date in the case of a subdivision, combination or re-classification.

	Adjusted Conversion Price.  If on the date that is nine (9) months immediately following the Original Issue Date (or if such date is not a Business Day, the
Business Day immediately following such date) (the "Adjustment Date"), the Conversion Price then in effect exceeds the Adjusted Conversion Price, the Conversion Price
hereunder shall be reset to the Adjusted Conversion Price as of such Adjustment Date. In no event shall the Conversion Price be increased pursuant to provisions of this Section 5(b).

	Voluntary Adjustment by Company. The Company may at any time during the term of this Debenture, with the prior written consent of the Required
Holders, reduce the then current Conversion Price to any amount and for any period of time deemed appropriate by the Board of Directors of the Company.

	Subsequent Rights Offerings.  In addition to any adjustments pursuant to Section 5(a) above, if at any time the Company grants, issues or sells any
Common Stock Equivalents, Options, Convertible Securities, or rights to purchase stock, warrants, securities or other property pro rata to the record holders of any class of shares of Common
Stock (the "Purchase Rights"), then the Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the
Holder could have acquired if the Holder had held the number of shares of Common Stock acquirable upon complete conversion of this Debenture (without regard to any limitations on exercise
hereof, including without limitation, the Beneficial Ownership Limitation) 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, issue or sale of such Purchase Rights (provided, however, to the
extent that the Holder's right to participate in any such Purchase Right would result in the Holder and the other Attribution Parties exceeding the Beneficial Ownership Limitation, then the Holder
shall not be entitled to participate in such Purchase Right to such extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right to such extent) and such
Purchase Right to such extent shall be held in abeyance for the 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 Beneficial Ownership Limitation, 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).

	Pro Rata Distributions.  During such time as this Debenture is outstanding, if the Company shall declare or make any dividend or other distribution of its assets (or

                                                                26

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 or options by way of a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a
"Distribution"), at any time after the issuance of this Debenture, 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 Debenture (without regard to any
limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date of which a record is taken for such Distribution, or, if no such record
is taken, the date as of which the record holders of shares of Common Stock are to be determined for the participation in such Distribution (provided, however, to the extent
that the Holder's right to participate in any such Distribution would result in the Holder and the other Attribution Parties exceeding the Beneficial Ownership Limitation, then the Holder shall not
be entitled to participate in such Distribution to such extent (or in the beneficial ownership of any shares of Common Stock as a result of such Distribution to such extent) and the portion of such
Distribution shall be held in abeyance for the benefit of the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation at
which time or times the Holder shall be entitled to participate in such Distribution (and any Distribution in respect of such Distribution or on any subsequent Distribution held similarly in
abeyance) to the same extent as if there had been no such limitation).

	Fundamental Transaction. If, at any time while this Debenture is outstanding, the Company shall, directly or indirectly, including through Subsidiaries,
Affiliates or otherwise, in one or more related transactions (1) (i) consolidate or merge (whether or not the Company is the surviving corporation) with or into another Person or Persons, or (ii)
sell, assign, transfer, convey, lease, license 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 Persons, or (iii) make, or allow one or more Persons to make, or allow the Company to be subject to or have its Common Stock be
subject to or party to one or more Persons making, a purchase, tender or exchange offer (whether by the Company or another Person) 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 Persons making or party to, or
Affiliated with any Persons 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 Persons making or
party to, or Affiliated with any Persons making or party to, such purchase, tender or exchange offer, become collectively the beneficial owners (as defined in Rule 13d-3 under the Exchange
Act) of at least 50% of the outstanding shares of Common Stock, or (iv) consummate a stock purchase agreement or other business combination (including, without limitation, a reorganization,
recapitalization, spin-off or scheme of arrangement) with one or more Persons whereby all such Persons, 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 Persons making or party to, or Affiliated
with any Persons 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 such
Persons become collectively the beneficial owners (as defined in Rule 13d-3 under the Exchange Act) of at least 50% of the outstanding shares of Common Stock, or (v) reorganize,
recapitalize or reclassify its Common Stock or effect any compulsory share exchange pursuant to which the Common Stock is effectively converted into or exchanged for other securities, cash
or property, or (2) allow any Person individually or Persons in the aggregate to be or become the "beneficial owner" (as defined in Rule 13d-3 under the Exchange 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

                                                                27

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 Persons as of the date of this Debenture calculated as if any shares of Common Stock held by all such Persons 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 Persons
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 (3) issue or enter 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 (each a "Fundamental Transaction"), then, upon any subsequent conversion
of this Debenture, the Holder shall have the right to receive, for each Conversion Share that would have been issuable upon such conversion immediately prior to the occurrence of such
Fundamental Transaction (without regard to any limitation in Section 4(d) and Section 4(e) on the conversion of this Debenture), the number of shares of Common Stock of the successor or
acquiring corporation or of the Company, if it is the surviving corporation, and any additional consideration (the "Alternate Consideration") receivable as a result of such
Fundamental Transaction by a holder of the number of shares of Common Stock for which this Debenture is convertible immediately prior to such Fundamental Transaction (without regard to
any limitation in Section 4(d) and Section 4(e) on the conversion of this Debenture).  For purposes of any such conversion, the determination of the Conversion Price shall be appropriately
adjusted to apply to such Alternate Consideration based on the amount of Alternate Consideration issuable in respect of one (1) share of Common Stock in such Fundamental Transaction, and
the Company shall apportion the Conversion

                                                                28

Price among the Alternate Consideration in a reasonable manner reflecting the relative value of any different components of the Alternate
Consideration.  If holders of Common Stock are given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the Holder shall be given the same
choice as to the Alternate Consideration it receives upon any conversion of this Debenture following such Fundamental Transaction.  The Company shall cause any successor entity in a
Fundamental Transaction in which the Company is not the survivor (the "Successor Entity") to assume in writing all of the obligations of the Company under this Debenture
and the other Transaction Documents in accordance with the provisions of this Section 5(f) pursuant to written agreements in form and substance reasonably satisfactory to the Holder and
approved by the Holder (without unreasonable delay) prior to such Fundamental Transaction and shall, at the option of the holder of this Debenture, deliver to the Holder in exchange for this
Debenture a security of the Successor Entity evidenced by a written instrument substantially similar in form and substance to this Debenture which is convertible for a corresponding number of
shares of capital stock of such Successor Entity (or its parent entity) equivalent to the shares of Common Stock acquirable and receivable upon conversion of this Debenture (without regard to
any limitations on the conversion of this Debenture) prior to such Fundamental Transaction, and with a conversion price which applies the conversion 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 number of
shares of capital stock and such conversion price being for the purpose of protecting the economic value of this Debenture immediately prior to the consummation of such Fundamental
Transaction), and which is reasonably satisfactory in form and substance to the Holder. Upon the occurrence of any such Fundamental Transaction, the Successor Entity shall succeed to, and
be substituted for (so that from and after the date of such Fundamental Transaction, the provisions of this Debenture and the other Transaction Documents referring to the
"Company" shall refer instead to the Company and 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 Debenture and the other Transaction Documents with the same effect as if such Successor Entity had been named as the Company herein.  The provisions of this Section
5(f) shall apply similarly and equally to successive Fundamental Transactions.

	Calculations.  All calculations under this Section 5 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be.  For purposes of
this Section 5, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall be the sum of the number of shares of Common Stock (excluding any
treasury shares of the Company) issued and outstanding.

	Notice to the Holder.

	Adjustment to Conversion Price.  Whenever the Conversion Price is adjusted pursuant to any provision of this Section 5, the Company shall

                                                                29

promptly deliver to the Holder a notice setting forth the Conversion Price after such adjustment and setting forth a brief statement of the facts requiring such adjustment.  

	Notice to Allow Conversion by Holder.  If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the Common Stock, (B)
the Company shall declare a dividend or distribution on or a redemption of the Common Stock, (C) the Company shall authorize the granting, issuance or sale of any Options, Convertible
Securities or rights to purchase stock, warrants to subscribe for or purchase any shares of capital stock of any class or of any rights to all holders of the Common Stock of rights or warrants to
subscribe for or purchase any shares of capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall be required in connection with any reclassification
of the Common Stock, any consolidation or merger to which the Company is a party, any sale or transfer of all or substantially all of the assets of the Company, or any compulsory share
exchange whereby the Common Stock is converted into other securities, cash or property or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation or winding up of
the affairs of the Company, then, in each case, the Company shall cause to be filed at each office or agency maintained for the purpose of conversion of this Debenture, and shall cause to be
delivered to the Holder at its last address as it shall appear upon the Debenture Register, at least twenty (20) calendar days prior to the applicable record or
effective date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the purpose of such dividend, distribution, redemption, rights or warrants, or if a record is not
to be taken, the date as of which the holders of the Common Stock of record to be entitled to such dividend, distributions, redemption, rights or warrants are to be determined or (y) the date on
which such reclassification, consolidation, merger, sale, transfer or share exchange is expected to become effective or close, and the date as of which it is expected that holders of the Common
Stock of record shall be entitled to exchange their shares of the Common Stock for securities, cash or other property deliverable upon such reclassification, consolidation, merger, sale, transfer
or share exchange, provided that the failure to deliver such notice or any defect therein or in the delivery thereof shall not affect the validity of the corporate action required to be specified in
such notice.  To the extent that any notice provided hereunder constitutes, or contains, material, non-public information regarding the Company or any of the Subsidiaries, the Company shall
simultaneously file such notice with the Commission pursuant to a Current Report on Form 8-K.  The Holder shall remain entitled to convert this Debenture during the 20-day period
commencing on the date of such notice through the effective date of the event triggering such notice except as may otherwise be expressly set forth herein. 

                                                                30

Section 6.Optional Redemption; Monthly Redemptions; Forced Conversion; Real Estate Sale Or Other Redemption; Other.

	Optional Redemption at Election of Company.  Subject to the provisions of this Section 6(a), at any time after the date that is six (6) months
immediately following the Original Issue Date, provided that all the Equity Conditions have been satisfied (unless waived in writing by the Holder) on each Trading Day during the period
commencing on the Optional Redemption Notice Date (as defined below) through the later of (x) the Optional Redemption Date (as defined below) and (y) the date the Optional Redemption
Price is actually paid to the Holder in full (the "Optional Redemption Period"), the Company may redeem all or any portion of the principal amount of this Debenture then
remaining, provided, that the aggregate principal amount under this Debenture and the Other Debentures being redeemed pursuant to this Section 6(a) (and analogous provisions under the
Other Debentures) shall be at least $1,000,000, or such lesser principal amount that is then outstanding under this Debenture and the Other Debentures (such principal amount, the
"Optional Redemption Amount") for cash in an amount equal to the Optional Redemption Price on the 30th calendar day following the Optional Redemption Notice Date
(such date, the "Optional Redemption Date") (the "Optional Redemption"). The Company may exercise its right to require redemption under this
Section 6(a) by delivering a written notice thereof by facsimile or electronic mail and overnight courier to the Holder and all, but not less than all, of the holders of the Other Debentures (the
"Optional Redemption Notice" and the date such notice is deemed delivered hereunder, the "Optional Redemption Notice Date"). The Optional
Redemption Notice shall (i) state the Optional Redemption Date, (ii) state the aggregate principal amount of Debentures which the Company has elected to be subject to an Optional
Redemption from the Holder and all of the holders of the Other Debentures pursuant to this Section 6(a) (and analogous provisions under the Other Debentures) on the Optional Redemption
Date and (iii) certify that there has been no Equity Conditions Failure as of the Optional Redemption Notice Date. The Optional Redemption Notice shall be irrevocable.  The Company
may not effect more than one (1) Optional Redemption.  The Optional Redemption Price is payable in full on the Optional Redemption Date in cash by wire transfer of immediately
available funds pursuant to wire instructions provided by the Holder in writing to the Company.  If any of the Equity Conditions shall cease to be satisfied at any time during the Optional
Redemption Period, Company shall provide the Holder a subsequent notice to that effect. If any Equity Condition fails to be satisfied (which failure is not waived in writing by the Holder)
between the applicable Optional Redemption Notice Date and any time through the applicable Optional Redemption Date, then at the option of the Holder the Optional Redemption shall be null
and void with respect to all or any part designated by the Holder of the unconverted Optional Redemption Amount and the Holder shall be entitled to all the rights of a holder of this Debenture
with respect to such amount of the Optional Redemption Amount.  The Company covenants and agrees that it will honor all Notices of Conversion tendered from the time of delivery of
the Optional Redemption Notice through the date all amounts owing thereon are due and paid in full. All principal amounts of this Debenture converted

                                                                31

by the Holder after the Optional
Redemption Notice Date shall reduce the Optional Redemption Amount of this Debenture required to be redeemed on the Optional Redemption Date, unless the Holder otherwise indicates in
the applicable Notice of Conversion. The Company's determination to effect an Optional Redemption shall be applied ratably to all of the holders of the then outstanding Debentures based on
their (or their predecessor's) initial purchases of Debentures pursuant to the Purchase Agreement.  To the extent redemptions required by this Section 6(a) are deemed or determined by
a court of competent jurisdiction to be prepayments of the Debenture by the Company, such redemptions shall be deemed to be voluntary prepayments.  In the event of a partial
redemption of this Debenture pursuant hereto, the principal amount redeemed shall be deducted in reverse order starting from the final Monthly Redemption Amount to be paid hereunder on
the final Monthly Redemption Date, unless the Holder otherwise indicates and allocates among any Monthly Redemption Dates hereunder in a written notice to the Company.  The
parties hereto agree that in the event of the Company's redemption of any portion of the Debenture under this Section 6(a), the Holder's damages would be uncertain and difficult to estimate
because of the parties' inability to predict future interest rates and the uncertainty of the availability of a suitable substitute investment opportunity for the Holder. 

	Monthly Redemption.  On each Monthly Redemption Date, the Company shall redeem the Monthly Redemption Amount (the "Monthly
Redemption"). The Monthly Redemption Amount payable on each Monthly Redemption Date shall be paid upon 23 Trading Days' prior written irrevocable notice (a
"Monthly Redemption Notice" and the date such notice is deemed delivered hereunder, a "Monthly Redemption Notice Date") in duly authorized,
validly issued, fully paid and non-assessable shares of Common Stock (such Monthly Redemption Amount payable in shares, the "Monthly Conversion Amount") in an
amount determined by dividing the applicable Monthly Conversion Amount by a conversion price equal to the lesser of (i) the then Conversion Price and (ii) 90% of the lesser of (x) the
arithmetic average of the lowest 10 VWAPs of the Common Stock during the 20 consecutive Trading Days ending on the Trading Day that is immediately prior to the applicable Monthly
Redemption Date and (y) the arithmetic average of the 10 lowest VWAPs of the Common Stock during the 20 consecutive Trading Days ending on the Trading Day that is immediately prior to
the date the applicable Monthly Redemption Shares are issued and delivered to the Holder if such delivery is after the applicable Monthly Redemption Date (in each case, subject to adjustment
for any stock dividend, stock split, stock combination or other similar event affecting the Common Stock during such 20 Trading Day period) (the "Monthly Redemption Price") (such
number of shares, the "Monthly Redemption Shares") (the period commencing on the applicable Monthly Redemption Notice Date through the later of (x) the applicable
Monthly Redemption Date and (y) the date the applicable Monthly Redemption Amount is actually paid to the Holder in full, a "Monthly Conversion Period");
provided, further, that the Company may not elect not to pay the Monthly Redemption Amount in Conversion Shares unless (y) from the date the Holder receives the duly
delivered Monthly Redemption Notice through and until the date such Monthly

                                                                32

Redemption is paid in full, the Equity Conditions have been satisfied, unless waived in writing by the Holder and
(z) as to such Monthly Redemption, on the Initial Pre-Monthly Redemption Shares Delivery Date, the Company shall have delivered to the Holder's account with the DTC a number of shares of
Common Stock to be applied against such Monthly Redemption Amount equal to the quotient of (x) the applicable Monthly Redemption Amount divided by (y) the lesser of (A) the Conversion
Price and (B) 90% of the lesser of (I) the arithmetic average of the 10 lowest VWAPs of the Common Stock during the 20 Trading Day period ending on the Trading Day immediately prior to the
applicable Initial Pre-Monthly Redemption Shares Delivery Date and (II) the arithmetic average of the 10 lowest VWAPs of the Common Stock during the 20 consecutive Trading Days ending
on the Trading Day that is immediately prior to the date the applicable Initial Pre-Monthly Redemption Shares are issued and delivered to the Holder if such delivery is after the applicable Initial
Pre-Monthly Redemptions Shares Delivery Date (in each case, subject to adjustment for any stock dividend, stock split, stock combination or other similar event affecting the Common Stock
during such 20 Trading Day period) (such number of shares, the "Initial Pre-Monthly Redemption Shares"). In addition, in the event the Holder delivers an Acceleration
Notice (as defined below) in accordance with the provisions set forth below, the Company shall deliver on the Trading Day immediately following receipt of such Acceleration Notice (such date,
the "Additional Pre-Monthly Redemption Shares Delivery Date") to the Holder's account with the DTC a number of shares of Common Stock to be applied against such Monthly
Redemption Amount equal to the quotient of (x) the applicable Accelerated Amount divided by (y) the lesser of (A) the Conversion Price and (B) 90% of the lesser of (I) the arithmetic average
of the 10 lowest VWAPs of the Common Stock during the 20 Trading Day period ending on the Trading Day immediately prior to the date of delivery of such Acceleration Notice and (II) the
arithmetic average of the 10 lowest VWAPs of the Common Stock during the 20 consecutive Trading Days ending on the Trading Day that is immediately prior to the date the applicable
Additional Pre-Monthly Redemption Shares are issued and delivered to the Holder if such delivery is after the applicable Additional Pre-Monthly Redemption Shares Delivery Date (in each
case, subject to adjustment for any stock dividend, stock split, stock combination or other similar event affecting the Common Stock during such 20 Trading Day period) (such number of
shares, the "Additional Pre-Monthly Redemption Shares" and together with the Initial Pre-Monthly Redemption Shares, the "Pre-Monthly Redemption Shares"). In
lieu of paying any Monthly Redemption Amount in shares of Common Stock, the Company may elect to pay all or part of a Monthly Redemption Amount in cash by wire transfer of immediately
available funds pursuant to wire instructions provided by the Holder in writing to the Company. On each Monthly Redemption Date, with respect to which the Company notified the Holder it
shall pay the applicable Monthly Redemption Amount in whole or in portion in Common Stock, the Company shall deliver to the Holder a number of shares of Common Stock equal to the
applicable Monthly Redemption Balance Shares.  If (i) the Company notified the Holder on the applicable Monthly Redemption Notice Date that it shall pay the applicable Monthly Redemption
Amount in whole or in portion in Common Stock and (ii) as a result of such payment of Monthly Redemption Amount

                                                                33

in Common Stock, the Holder will exceed its Beneficial Ownership
Limitation and the Holder does not waive the Equity Condition set forth in clause (g) of such definition, the Holder shall deliver a written notice to the Company on the Trading Day immediately
following the applicable Monthly Redemption Notice Date that such Equity Condition is not satisfied or waived and specifying how many shares of Common Stock the Holder is able to receive
without exceeding its Beneficial Ownership Limitation.  If the Company fails to satisfy any Equity Condition (which failure is not waived in writing by the Holder) during the applicable Monthly
Redemption Period, then at the option of the Holder, the Holder may (i) nevertheless require the Company to pay the applicable Monthly Redemption Amount in shares of Common Stock or (ii)
require the Company to pay the applicable Monthly Redemption Amount (including any portion of the Pre-Monthly Redemption Shares in which case the Holder shall return such related Pre-
Monthly Redemption Shares, which the Holder has not otherwise sold, transferred or disposed of, to the Company) payable on the applicable Monthly Redemption Date in cash.  The Holder
may convert, pursuant to Section 4(a), any principal amount of this Debenture subject to a Monthly Redemption at any time prior to the date that the Monthly Redemption Amount, plus accrued
but unpaid interest, liquidated damages and any other amounts then owing to the Holder are due and paid in full.  Unless otherwise indicated by the Holder in any such applicable Notice of
Conversion, any principal amount of this Debenture converted during the applicable Monthly Conversion Period until the date the Monthly Redemption Amount is paid in full shall be first applied
to the principal amount subject to the Monthly Redemption Amount payable in cash and then to the Monthly Redemption Amount payable in Conversion Shares.  Unless otherwise indicated by
the Holder in any such applicable Notice of Conversion, any principal amount of this Debenture converted during the applicable Monthly Conversion Period in excess of the Monthly
Redemption Amount shall be applied against the last principal amount of this Debenture scheduled to be redeemed hereunder, in reverse time order from the Maturity Date.  The Company
covenants and agrees that it will honor all Notices of Conversion tendered up until such amounts are paid in full.  The Company's determination to pay a Monthly Redemption in cash, shares of
Common Stock or a combination thereof shall be applied ratably to all of the holders of the then outstanding Debentures based on their (or their predecessor's) initial purchases of Debentures
pursuant to the Purchase Agreement.  Notwithstanding anything herein to the contrary, at the election of the Holder in its sole discretion, at any time prior to the second Trading Day
immediately preceding any Monthly Redemption Date, the Holder may deliver one or more (I) written notices (each, an "Acceleration Notice") to the Company electing to
accelerate the payment of all or any portion of up to 3 Monthly Redemption Amount(s) scheduled to be paid on future Monthly Redemption Dates after the applicable Monthly Redemption Date
(such amount(s) accelerated, the "Accelerated Amount(s)") to be paid on the applicable Monthly Redemption Date (in addition to the Monthly Redemption Amount
scheduled to be due on such Monthly Redemption Date), in which case, such Accelerated Amount(s) shall be added to (or create), and become part of, the Monthly Redemption Amount
payable on such applicable Monthly Redemption Date only in Common Stock by including such Accelerated Amount(s) in the Monthly Redemption

                                                                34

Amount payable only in shares of Common
Stock for the applicable Monthly Redemption Date, such Accelerated Amounts to be deducted in reverse order starting from the final Monthly Redemption Amount to be paid hereunder on the
final Monthly Redemption Date unless the Holder otherwise indicates and allocates among any Monthly Redemption Dates hereunder the applicable Acceleration Notice, and/or (II) written
notices (each, a "Deferral Notice") to the Company electing to have the payment of all or any portion of a Monthly Redemption Amount payable on such Monthly
Redemption Date deferred (such amount(s) deferred, the "Deferral Amount") until any subsequent Monthly Redemption Date selected by the Holder, in its sole discretion,
in which case, the Deferral Amount shall be added to, and become part of, the Monthly Redemption Amount to be paid on such subsequent Monthly Redemption Date and such Deferral
Amount shall continue to accrue Interest hereunder; provided, however, that the Holder may only elect to defer up to 4 Monthly Redemption Amount(s).  Any Acceleration
Notice delivered by the Holder pursuant to this Section 6(b) shall set forth the Accelerated Amount(s). Any Deferral Notice delivered by the Holder pursuant to this Section 6(b) shall set forth (i)
the Deferral Amount and (ii) the date that such Deferral Amount shall be deferred to.  All shares of Common Stock issued on a Monthly Redemption Date, an Initial Pre-Monthly Redemption
Shares Delivery Date or an Additional Pre-Monthly Redemption Shares Delivery Date shall be validly issued, fully paid and nonassessable shares of Common Stock.  Notwithstanding anything
herein to the contrary, at the election of the Company in its sole discretion, the Company may deliver one or more written notices (each, a "Company Acceleration Notice")
to the Holder and all the holders of the Other Debentures at any time on or prior to the Monthly Redemption Notice Date immediately preceding the applicable Monthly Redemption Date
electing to have the payment of all or any portion of up to an aggregate of 2 Monthly Redemption Amount(s) (without giving effect to any Accelerated Amounts, Deferral Amounts or Company
Accelerated Amounts) scheduled to be paid on future Monthly Redemption Dates after the applicable Monthly Redemption Date accelerated (such amount(s) accelerated, the
"Company Accelerated Amount(s)") and paid on the applicable Monthly Redemption Date (in addition to the Monthly Redemption Amount scheduled to be due on such
Monthly Redemption Date), in which case, such Company Accelerated Amount(s) shall be added to, and become part of, the Monthly Redemption Amount payable on such applicable Monthly
Redemption Date but which shall only be paid in cash by wire transfer of immediately available funds pursuant to wire instructions delivered to the Company by the Holder in writing by including
such Company Accelerated Amount(s) in the Monthly Redemption Amount but payable solely in cash for the applicable Monthly Redemption Date, such Company Accelerated Amounts to be
deducted in reverse order starting from the final Monthly Redemption Amount to be paid hereunder on the final Monthly Redemption Date.  In no event shall the aggregate of all Company
Accelerated Amounts under the Debentures exceed an aggregate of two (2) Monthly Redemption Amounts (without giving effect to any Accelerated Amounts, Deferral Amounts or Company
Accelerated Amounts). Any Company Acceleration Notice delivered by the Holder pursuant to this Section 6(b) shall set forth the Company Accelerated Amount(s).  If the Company elects to deliver a Company Acceleration

                                                                35

Notice, then it must simultaneously take the same action in the same proportion with respect to the Other Debentures.  Notwithstanding anything herein to the
contrary, the Company shall not be permitted to deliver an Acceleration Notice, unless immediately after giving effect to the Monthly Redemption taking into account the payment of the
applicable Monthly Redemption Amount including the applicable Company Accelerated Amount(s), (i) the Company shall maintain on deposit cash in an amount not less than $2,000,000 and
(ii) the Company shall not be in violation of any financial covenant set forth in the Wells Fargo Facility.  

	Forced Conversion. Notwithstanding anything herein to the contrary, at any time after the date the Company satisfies all Equity Conditions, provided that all the
Equity Conditions have been satisfied (unless waived in writing by the Holder) on each Trading Day during the period commencing on the Forced Conversion Notice Date through the Forced
Conversion Date (each as defined below) (the "Forced Conversion Period"), the Company may cause the Holder to convert all or part of the then outstanding principal
amount of this Debenture, provided, that the aggregate principal amount under this Debenture and the Other Debentures being converted pursuant to this Section 6(c) (and analogous
provisions under the Other Debentures) shall be at least $1,000,000, or such lesser principal amount that is then outstanding under this Debenture and the Other Debentures plus, if so
specified in the Forced Conversion Notice (as defined below), accrued but unpaid interest, liquidated damages and other amounts owing to the Holder under this Debenture, it being agreed
that the "Conversion Date" for purposes of Section 4 shall be deemed to occur on a date not less than thirty (30) Trading Days nor more than forty (40) Trading Days following the
Forced Conversion Notice Date (such date, the "Forced Conversion Date") (a "Forced Conversion").  The Company may exercise its right to cause a
Forced Conversion under this Section 6(c) by delivering a written notice thereof by facsimile or electronic mail and overnight courier to the Holder and all, but not less than all, of the holders of
the Other Debentures (a "Forced Conversion Notice" and the date such notice is deemed delivered hereunder, a "Forced Conversion Notice Date").
The Forced Conversion Notice shall (i) state (a) the Forced Conversion Date, (b) the aggregate principal amount of the Debentures which the Company has elected to be subject to Forced
Conversion from the Holder and all of the holders of Other Debentures pursuant to this Section 6(c) (and analogous provisions under the Other Debentures), (c) the number of shares of
Common Stock to be issued to the Holder on the Forced Conversion Date, (d) the amount of accrued and unpaid interest and on such principal amount being converted, and (e) certify that all
Equity Conditions have been satisfied as of the Forced Conversion Notice Date.  The Company may not effect more than one (1) Forced Conversion.  If the Company confirmed that there was
no Equity Conditions Failure as of the applicable Forced Conversion Notice Date but an Equity Conditions Failure occurred between the applicable Forced Conversion Notice Date and any time
through the applicable Forced Conversion Date, the Company shall provide the Holder a subsequent notice to that effect.  If any Equity Conditions fails to be satisfied during the Forced
Conversion Period (and is not waived in writing by the Holder) during such period, then at the option of the Holder the Forced Conversion shall

                                                                36

be null and void with respect to all or any part
designated by the Holder of the unconverted Forced Conversion and the Holder shall be entitled to all the rights of a holder of this Debenture with respect to such amount of the Forced
Conversion Amount. Unless the Holder otherwise indicates in a written notice to the Company, any Forced Conversion shall be applied ratably to all Holders based on their initial purchases of
Debentures pursuant to the Purchase Agreement, provided that any voluntary conversions by a Holder shall be applied against the Holder's pro rata allocation, thereby decreasing the
aggregate amount forcibly converted hereunder if only a portion of this Debenture is forcibly converted.  The Company covenants and agrees that,  until the Forced Conversion has occurred,
the Forced Conversion Amount may be converted, in whole or in part, by the Holder into shares of Common Stock pursuant to Section 4. For purposes of clarification, a Forced Conversion
shall be subject to all of the provisions of Section 4, including, without limitation, the provision requiring payment of liquidated damages and limitations on conversions.  In the event of a partial
Forced Conversion of this Debenture pursuant hereto, the principal amount converted shall be deducted in reverse order starting from the final Monthly Redemption Amount to be paid
hereunder on the final Monthly Redemption Date, unless the Holder otherwise indicates and allocates among any Monthly Redemption Dates hereunder in a written notice to the Company.  If
(i) the Company notified the Holder on the Forced Conversion Notice Date that it shall effect a Forced Conversion and (ii) as a result of such Forced Conversion, the Holder will exceed its
Beneficial Ownership Limitation and the Holder does not waive the Equity Condition set forth in clause (g) of such definition, the Holder shall deliver a written notice to the Company on the
Trading Day immediately following the applicable Forced Conversion Notice Date that such Equity Condition is not satisfied or waived and specifying how many shares of Common Stock the
Holder is able to receive without exceeding its Beneficial Ownership Limitation.

	Real Estate Sale Or Other Redemption.  If, at any time on or prior to the date that is six (6) months immediately following the Original Issue Date, (x) the
Company effects one or more Real Estate Sale(s) or (y) the Company elects to redeem a portion of the outstanding Debentures with cash from a source other than one or more Real Estate
Sale(s), the Company shall deliver a written notice thereof, if in the case of a Real Estate Sale, within five (5) Business Days prior to the occurrence or consummation of such Real Estate Sale,
if any, by confirmed facsimile or electronic mail and overnight courier to all, but not less than all, of the holders of the Debentures (the "Real Estate Sale Or Other Redemption
Notice" and the date such notice is deemed delivered hereunder, the "Real Estate Sale Or Other Redemption Notice Date"), notifying the Holder and the holders
of the Other Debentures it shall redeem (a "Real Estate Sale Or Other Redemption") in cash the sum of (i) a portion of the outstanding principal amount of this Debenture,
(ii) accrued and unpaid interest thereon and (iii) of all other amounts, costs, expenses and liquidated damages due in respect thereof (collectively, the "Real Estate Sale Or Other
Redemption Amount"), equal to the lesser of (I) the Holder's Pro Rata Amount of the Available Proceeds and (II) the difference obtained by subtracting (x) the sum of the Holder's Pro
Rata Amount of the Available Proceeds of the current

                                                                37

Real Estate Sale Or Other Redemption and all Real Estate Sale Or Other Redemption(s), if any, effected prior to the applicable Real
Estate Sale Or Other Redemption, from (y) the Holder's Pro Rata Amount of $5,000,000, provided, that if the dollar amount set forth in the foregoing clause (x) exceeds the
dollar amount set forth in the foregoing clause (y), the dollar amount set forth in the this clause (II) shall equal zero (0) (the "Real Estate Sale Or Other Redemption Price")
on the date such Real Estate Sale, if any, occurs or is consummated or otherwise within five (5) Business Days of the Real Estate Sale Or Other Redemption Notice Date (such date, as
applicable, the "Real Estate Sale Or Other Redemption Date").  Each Real Estate Sale Or Other Redemption Notice shall (i) state the applicable Real Estate Sale Or Other
Redemption Date and (ii) state the aggregate principal amount of Debentures which is subject to such Real Estate Sale Or Other Redemption from the Holder and all of the holders of the Other
Debentures pursuant to this Section 6(d) (and analogous provisions under the Other Debentures) on the applicable Real Estate Sale Or Other Redemption Date.  Each Real Estate Sale Or
Other Redemption Notice shall be irrevocable.  Each Real Estate Sale Or Other Redemption Price is payable in full on the applicable Real Estate Sale Or Other Redemption Date in cash
by wire transfer of immediately available funds pursuant to wire instructions provided by the Holder in writing to the Company.  The Company covenants and agrees that it will honor all
Notices of Conversion tendered from the time of delivery of any Real Estate Sale Or Other Redemption Notice through the date all amounts owing thereon are due and paid in full.  All principal
amounts of this Debenture converted by the Holder after a Real Estate Sale Or Other Redemption Notice Date shall reduce the applicable Real Estate Sale Or Other Redemption Amount of
this Debenture required to be redeemed on the applicable Real Estate Sale Or Other Redemption Date, unless the Holder otherwise indicates in the applicable Notice of Conversion.  Each
Real Estate Sale Or Other Redemption shall be applied ratably to all of the holders of the then outstanding Debentures based on their (or their predecessor's) initial purchases of Debentures
pursuant to the Purchase Agreement.  To the extent redemptions required by this Section 6(d) are deemed or determined by a court of competent jurisdiction to be prepayments of the
Debenture by the Company, such redemptions shall be deemed to be voluntary prepayments.  In the event of a partial redemption of this Debenture pursuant hereto, the principal
amount redeemed shall be deducted in reverse order starting from the final Monthly Redemption Amount to be paid hereunder on the final Monthly Redemption Date, unless the Holder
otherwise indicates and allocates among any Monthly Redemption Dates hereunder in a written notice to the Company.  The parties hereto agree that in the event of the Company's
redemption of any portion of the Debenture under this Section 6(d), the Holder's damages would be uncertain and difficult to estimate because of the parties' inability to predict future interest
rates and the uncertainty of the availability of a suitable substitute investment opportunity for the Holder. 

	Redemption Procedure.  The payment of cash or issuance of Common Stock, as applicable, pursuant to an Optional Redemption, a Monthly Redemption,
a Forced Conversion or a Real Estate Sale Or Other Redemption shall be payable on the

                                                                38

applicable Redemption Date.  If any portion of the payment pursuant to a Redemption shall not be
paid by the Company by the applicable due date, interest shall accrue thereon at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted by applicable law until
such amount is paid in full.  Notwithstanding anything herein contained to the contrary, if any portion of a Redemption Price remains unpaid after such date, the Holder may elect, by written
notice to the Company given at any time thereafter, to invalidate such Redemption, ab initio, and, with respect to the Company's failure to honor such Redemption, the
Company shall have no further right to exercise such Redemption.  Notwithstanding anything to the contrary in this Section 6, the Company's determination to redeem in cash or its elections
under Section 6 shall be applied ratably among the holders of Debentures. The Holder may elect to convert the outstanding principal amount of the Debenture pursuant to Section 4 prior to
actual payment in cash for any redemption under this Section 6 by the delivery of a Notice of Conversion to the Company.

	Pro Rata Redemption Requirement.  If the Company causes a Real Estate Sale Or Other Redemption or elects to cause an Optional Redemption or a
Forced Conversion or to deliver a Company Acceleration Notice, in each case with respect to less than all of the Debentures then outstanding, then the Company shall require redemption,
conversion or acceleration, as the case may be, of the Debentures from the Holder and each of the holders of the Other Debentures equal to the product of (i) the aggregate principal amount of
Debentures which the Company redeems or has elected to cause to be redeemed, converted or accelerated, as the case may be, pursuant to Section 6, multiplied by (ii) the fraction, the
numerator of which is the aggregate principal amount of Debentures purchased by the Holder and the denominator of which is the sum of the aggregate principal amount of the Debentures
purchased by the Holder and all holders holding outstanding Debentures (such fraction with respect to each holder is referred to as its "Allocation Percentage", and such
amount with respect to each holder is referred to as its "Allocation Pro Rata Amount"); provided, however that in the event that any holder's Allocation
Pro Rata Amount exceeds the outstanding principal amount of such holder's Debenture, then such excess Allocation Pro Rata Amount shall be allocated amongst the remaining holders of
Debentures in accordance with the foregoing formula.  In the event that the initial holder of any Debentures shall sell or otherwise transfer any of such holder's Debentures, the transferee shall
be allocated a pro rata portion of such holder's Allocation Percentage and Allocation Pro Rata Amount.

Section 7.Negative Covenants. As long as any portion of this Debenture remains outstanding, unless the Required Holders shall have otherwise given
prior written consent, the Company shall not, and shall not permit any of the Subsidiaries to, directly or indirectly:

	other than Permitted Indebtedness, enter into, create, incur, assume, guarantee or suffer to exist any Indebtedness for borrowed money of any kind, including, but
not limited to, a guarantee, on or with respect to any of its property or assets now owned or hereafter acquired or any interest therein or any income or profits therefrom;

                                                                39

	other than Permitted Liens, enter into, create, incur, assume or suffer to exist any Liens of any kind, on or with respect to any of its property or assets now owned or
hereafter acquired or any interest therein or any income or profits therefrom;

	amend its charter documents, including, without limitation, its certificate of incorporation and bylaws, in any manner that materially and adversely affects any rights
of the Holder;

	repay, repurchase or offer to repay, repurchase or otherwise acquire more than a de minimis number of shares of its Common Stock or
Common Stock Equivalents other than as to (i) the Conversion Shares or Warrant Shares as permitted or required under the Transaction Documents and (ii) repurchases of Common Stock or
Common Stock Equivalents of departing officers directors and employees of the Company, provided that such repurchases shall not exceed an aggregate of $100,000 for all officers, directors
and employees during the term of this Debenture; 

	other than with respect to the Debentures and the Wells Fargo Facility, repay, redeem, defease, repurchase or make payments in respect of, or offer to repay,
redeem, defease, repurchase or make payments in respect of any Indebtedness other than regularly scheduled principal and interest payments as such terms are in effect as of the
Subscription Date, provided that such payments shall not be permitted if, at such time, or after giving effect to such payment, any Event of Default exist or occur;

	pay cash dividends or distributions on any equity securities of the Company;

	enter into any transaction with any Affiliate of the Company which would be required to be disclosed in any public filing with the Commission, unless such
transaction is made in the ordinary course of business in a  manner and to the extent consistent with past practice on an arm's-length basis and necessary or desirable for the prudent operation
of its business, for fair consideration and on terms no less favorable to it or its Subsidiaries than would be obtainable in a comparable arm's length transaction with a Person that is not an
Affiliate thereof and expressly approved by a majority of the disinterested directors of the Company (even if less than a quorum otherwise required for board approval); 

	make, any change in the nature of its business as described in the Company's most recent Annual Report filed on Form 10-K with the Commission or modify
its corporate structure or purpose;

	encumber or allow any Liens on, any of its copyright rights, copyright applications, copyright registrations and like protections in each work of authorship and
derivative work, whether published or unpublished, any patents, patent applications and

                                                                40

like protections, including improvements, divisions, continuations, renewals, reissues, extensions, and
continuations-in-part of the same, trademarks, service marks and, to the extent permitted under applicable law, any applications therefor, whether registered or not, and the goodwill of the
business of the Company and its Subsidiaries connected with and symbolized thereby, know-how, operating manuals, trade secret rights, rights to unpatented inventions, and any claims for
damage by way of any past, present, or future infringement of any of the foregoing, other than Permitted Liens; 

	transfer any of their assets to a Subsidiary unless such Subsidiary is a guarantor pursuant to the Guarantee Agreement, provided, that the Company
may transfer cash in an amount not to exceed (I) $5,000,000 in the aggregate or (II) $1,000,000 in any thirty (30) day period, to a Subsidiary that is not a U.S. Subsidiary in the ordinary course
of business consistent with past practice; or

	enter into any agreement with respect to any of the foregoing.

Section 8.Affirmative Covenants. As long as any portion of this Debenture remains outstanding, unless the Required Holders shall have otherwise
given prior written consent, the Company shall, and shall cause it Subsidiaries to:

	maintain and preserve its existence, rights and privileges, and become or remain duly qualified and in good standing
in each jurisdiction in which the character of the properties owned or leased by it or in which the transaction of its business makes such qualification necessary; provided that, notwithstanding
the foregoing, the Company shall cause Stevia California, LLC to be, and remain, in good standing as of the date that is the sixtieth (60th) day after the Subscription
Date;

	maintain and preserve, all of its properties which are necessary or useful in the proper conduct of its business in good working order and condition, ordinary wear
and tear excepted, and comply at all times with the provisions of all leases to which it is a party as lessee or under which it occupies property, so as to prevent any loss or forfeiture thereof or
thereunder; and

	maintain insurance with responsible and reputable insurance companies or associations (including, without limitation, comprehensive general liability, hazard, rent
and business interruption insurance) with respect to its properties (including all real properties leased or owned by it) and business, in such amounts and covering such risks as is required by
any governmental authority having jurisdiction with respect thereto or as is carried generally in accordance with sound business practice by companies in similar businesses similarly situated.

Section 9.Events of Default.  

                                                                41

	"Event of Default" means, wherever used herein, any of the following events (whatever the reason for such event and whether such event shall
be voluntary or involuntary or effected by operation of law or pursuant to any judgment, decree or order of any court, or any order, rule or regulation of any administrative or governmental
body):

	any default in the payment of (A) the principal amount of any Debenture, including, without limitation, any Monthly Redemption Amount or (B) interest, liquidated
damages and other amounts owing to a Holder on any Debenture, as and when the same shall become due and payable (whether on a Conversion Date or the Maturity Date or by acceleration
or otherwise) which default, solely (I) in the case of a Monthly Redemption payment or other default under clause (A) above, is not cured within 3 Trading Days and (II) in the case of an interest
payment or other default under clause (B) above, is not cured within 5 Trading Days;

	the Company shall fail to observe or perform any other covenant or agreement contained in the Debentures (other than a breach by the Company of its obligations
to deliver shares of Common Stock to the Holder upon conversion, which breach is addressed in clause (x) below) which failure is not cured, if possible to cure, within 5 Trading Days 

	a default or event of default (subject to any grace or cure period provided in the applicable agreement, document or instrument) shall occur under any of the
Transaction Documents;

	any representation or warranty made in this Debenture, any other Transaction Documents, any written statement pursuant hereto or
thereto or any other report, financial statement or certificate made or delivered to the Holder or any other Holder shall be untrue or incorrect in any material respect as of the date when
made or deemed made;

	the Company or any Significant Subsidiary (as such term is defined in Rule 1-02(w) of Regulation S-X) shall be subject to a Bankruptcy Event;

	the Company or any Subsidiary shall default on any of its obligations under any mortgage, credit agreement or other facility, indenture agreement, factoring
agreement or other instrument under which there may be issued, or by which there may be secured or evidenced, any Indebtedness for borrowed money or money due under any long term
leasing or factoring arrangement that (a) involves obligation(s) greater than, individually or in the aggregate, $500,000, whether such Indebtedness now exists or shall hereafter be

                                                                42

created, and (b) results in such Indebtedness becoming or being declared due and payable prior to the date on which it would otherwise become due and payable; 

	the Common Stock shall not be eligible for listing or quotation for trading on a Trading Market or the Common Stock shall be suspended from trading on a Trading
Market and shall not be eligible to resume listing or quotation for trading thereon within 10 Trading Days;

	unless the Required Holders shall have otherwise given prior written consent, the Company shall be a party to a Change of Control Transaction;

	the Company does not meet the current public information requirements under Rule 144; 

	the Company shall fail for any reason to deliver the applicable shares of Common Stock to a Holder prior to the tenth Trading Day after a Share Delivery Date
pursuant to Section 4(c) or any Forced Conversion Date pursuant to Section 6(c) or after a Notice of Exercise (as defined in the Warrants) was delivered to the Company or the Company shall
provide at any time notice to the Holder, including by way of public announcement, of the Company's intention to not honor requests for conversions of any Debentures in accordance with the
terms hereof or requests for exercises of any Warrants in accordance with the terms thereof;

	the electronic transfer by the Company of shares of Common Stock through the DTC is no longer available or is subject to a "chill"; 

	any monetary judgment, writ or similar final process shall be entered or filed against the Company, any subsidiary or any of their respective property or
other assets for, individually or in the aggregate, more than $500,000, and such judgment, writ or similar final process shall remain unvacated, unbonded or unstayed for a period of 60 calendar
days; 

	at any time following the fifth (5th) consecutive Business Day that the number of shares of Common Stock reserved for issuances of Common Stock pursuant to the
terms of the Debentures and the Warrants is less than 130% of the sum of (A) the number of shares of Common Stock that the Holder would be entitled to receive pursuant to the terms of this
Debenture (without regard to any limitations on conversion set forth in Section 4(d) or otherwise) and (B) the number of shares of Common Stock that the Holder would be entitled to receive
upon exercise in full of the Holder's Warrants (without regard to any limitations on exercise set forth in the Warrants);

                                                                43

	the Company or any Subsidiary shall fail to perform or comply with any covenant or agreement contained in the Security Agreement to which it is a party;

	any material provision of the Security Agreement shall at any time for any reason (other than pursuant to the express terms thereof) cease to be valid and binding
on or enforceable against the Company or any Subsidiary intended to be a party thereto, or the validity or enforceability thereof shall be contested by any party thereto, or a proceeding shall be
commenced by the Company or any Subsidiary or any governmental authority having jurisdiction over any of them, seeking to establish the invalidity or unenforceability thereof, or the
Company or any Subsidiary shall deny in writing that it has any liability or obligation purported to be created under the Security Agreement;

	the Security Agreement, after delivery thereof pursuant hereto, shall for any reason fail or cease to create a valid and perfected and, except to the extent permitted
by the terms hereof or thereof, first priority lien (subject to Permitted Liens that have priority by law or contract) in favor of the Secured Parties (as defined in the Security Agreement) on any
Collateral (as defined in the Security Agreement) purported to be covered thereby;

	if there shall occur and be continuing any "Event of Default" (or any comparable term) under, and as defined in, the documents evidencing or governing
any Permitted Secured Indebtedness;

	any material damage to, or loss, theft or destruction of, any Collateral or a material amount of property of the Company, whether or not insured, or any strike,
lockout, labor dispute, embargo, condemnation, act of God or public enemy, or other casualty which causes, for more than fifteen (15) consecutive days, the cessation or substantial curtailment
of revenue producing activities at any facility of the Company or any Subsidiary, if any such event or circumstance causes a Material Adverse Effect; 

	a false or inaccurate certification (including a false or inaccurate deemed certification) by the Company that the Equity Conditions are satisfied or that there has
been no Equity Conditions Failure or as to whether any Event of Default has occurred; or

	any Event of Default (as defined in the Other Debentures) occurs with respect to any Other Debentures.

	Remedies Upon Event of Default. Upon the occurrence of an Event of Default with respect to this Debenture or any Other Debentures, the Company shall
within two (2) Business Days deliver written notice thereof via facsimile or electronic

                                                                44

mail and overnight courier (an "Event of Default Notice") to the Holder.  At any time
after the earlier of the Holder's receipt of an Event of Default Notice and the Holder becoming aware of an Event of Default, the Holder may require the Company to redeem (an
"Event of Default Redemption") all or any portion of this Debenture by delivering written notice thereof (the "Event of Default Redemption Notice") to
the Company, which Event of Default Redemption Notice shall indicate the portion of this Debenture the Holder is electing to require the Company to redeem.  Each portion of this Debenture
subject to redemption by the Company pursuant to this Section 9(b) shall be redeemed by the Company in cash by wire transfer of immediately available funds at a price equal to the
Mandatory Default Amount.  To the extent redemptions required by this Section 9(b) are deemed or determined by a court of competent jurisdiction to be prepayments of the Debenture by the
Company, such redemptions shall be deemed to be voluntary prepayments. Notwithstanding anything to the contrary in this Section 9(b), but subject to Section 4(d), until the Mandatory Default
Amount (together with any interest thereon) is paid in full, the principal amount of this Debenture submitted for redemption under this Section 9(b) (together with any interest thereon) may be
converted, in whole or in part, by the Holder into Common Stock pursuant to Section 4. In the event of a partial redemption of this Debenture pursuant hereto, the principal amount redeemed
shall be deducted in reverse order starting from the final Monthly Redemption Amount to be paid hereunder on the final Monthly Redemption Date, unless the Holder otherwise indicates and
allocates among any Monthly Redemption Dates hereunder in the applicable Event of Default Redemption Notice.  The parties hereto agree that in the event of the Company's redemption of
any portion of the Debenture under this Section 9(b), the Holder's damages would be uncertain and difficult to estimate because of the parties' inability to predict future interest rates and the
uncertainty of the availability of a suitable substitute investment opportunity for the Holder.  Accordingly, any Event of Default redemption premium due under this Section 9(b) is intended by the
parties to be, and shall be deemed, a reasonable estimate of the Holder's actual loss of its investment opportunity and not as a penalty. Commencing on the occurrence of any Event of Default
that results in the eventual acceleration of this Debenture, the Interest Rate on this Debenture shall accrue at an interest rate equal to the lesser of 18% per annum or the maximum rate
permitted under applicable law.  In the event that such Event of Default is subsequently cured, the adjustment referred to in the preceding sentence shall cease to be effective as of the date of
such cure; provided, that the interest as calculated and unpaid at such increased rate during the continuance of such Event of Default shall continue to apply to the extent relating to
the days after the occurrence of such Event of Default through and including the date of cure of such Event of Default.  Upon the payment in full of the Mandatory Default Amount, the Holder
shall promptly surrender this Debenture to or as directed by the Company.  In connection with such acceleration described herein, the Holder need not provide, and the Company hereby
waives, any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies
hereunder and all other remedies available to it under applicable law.  Such acceleration may be rescinded and annulled by Holder at any time prior to payment hereunder and the Holder

                                                                45

shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this Section 9(b).  No such rescission or annulment shall affect any
subsequent Event of Default or impair any right consequent thereon.

Section 10.Rank.All payments due under this Debenture (a) shall rank pari passu with all Other Debentures and (b) shall rank senior
to all other Indebtedness of the Company and its Subsidiaries, except as provided herein, in the Intercreditor Agreement or in any other intercreditor agreement entered into in connection with
the Debentures.

Section 11.Disclosure. Upon receipt or delivery by the Company of any notice in accordance with the terms of this Debenture, unless the
Company has in good faith determined that the matters relating to such notice do not constitute material, nonpublic information relating to the Company or its Subsidiaries, the Company shall
within two (2) Business Days after any such receipt or delivery publicly disclose such material, nonpublic information on a Current Report on Form 8-K or otherwise.  In the event that the
Company believes that a notice contains material, nonpublic information relating to the Company or its Subsidiaries, the Company so shall indicate to the Holder contemporaneously with
delivery of such notice, and in the absence of any such indication, the Holder shall be allowed to presume that all matters relating to such notice do not constitute material, nonpublic information
relating to the Company or its Subsidiaries.

Section 12.Miscellaneous.  

	Notices.  Any and all notices or other communications or deliveries to be provided by the Holder hereunder, including, without limitation, any Notice of
Conversion, shall be in writing and delivered personally, by facsimile or electronic mail, or sent by a nationally recognized overnight courier service, addressed to the Company, at the address
set forth above, or such other facsimile number, email address or address as the Company may specify for such purposes by notice to the Holder delivered in accordance with this Section
12(a).  Any and all notices or other communications or deliveries to be provided by the Company hereunder shall be in writing and delivered personally, by facsimile or electronic mail, or sent
by a nationally recognized overnight courier service addressed to the Holder at the facsimile number, email address or address of the Holder appearing on the books of the Company, or if no
such facsimile number, email address or address appears on the books of the Company, at the principal place of business of such Holder, as set forth in the Purchase Agreement.  Any notice
or other communication or deliveries hereunder shall be deemed given and effective on the earliest of (i) the date of transmission, if such notice or communication is delivered via facsimile at
the facsimile number set forth on the signature pages attached to the Purchase Agreement or email to the email address set forth on the signature pages attached to the Purchase Agreement,
in each case prior to 5:30

                                                                46

p.m. (New York City time) on any date, (ii) the next Trading Day after the date of transmission, if such notice or communication is delivered via facsimile at the
facsimile number set forth on the signature pages attached hereto or email to the email address set forth on the signature pages attached to the Purchase Agreement, in each case on a day
that is not a Trading Day or later than 5:30 p.m. (New York City time) on any Trading Day, (iii) the second Trading Day following the date of mailing, if sent by U.S. nationally recognized
overnight courier service, (iv) when sent if sent by electronic mail, or (v) upon actual receipt by the party to whom such notice is required to be given.

	Absolute Obligation. Except as expressly provided herein, no provision of this Debenture shall alter or impair the obligation of the Company, which is
absolute and unconditional, to pay the principal of, liquidated damages and accrued interest, as applicable, on this Debenture at the time, place, and rate, and in the coin or currency, herein
prescribed.  This Debenture is a direct debt obligation of the Company.  

	Lost or Mutilated Debenture.  If this Debenture shall be mutilated, lost, stolen or destroyed, the Company shall execute and deliver, in exchange and
substitution for and upon cancellation of a mutilated Debenture, or in lieu of or in substitution for a lost, stolen or destroyed Debenture, a new Debenture for the principal amount of this
Debenture so mutilated, lost, stolen or destroyed, but only upon receipt of evidence of such loss, theft or destruction of such Debenture, and of the ownership hereof, reasonably satisfactory to
the Company.

	Governing Law. All questions concerning the construction, validity, enforcement and interpretation of this Debenture 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.  The Company agrees that all legal Proceedings initiated
by or on behalf of the Company concerning the interpretations, enforcement and defense of the transactions contemplated by this Debenture (whether brought against the Holder or any of its
affiliates, directors, officers, shareholders, partners, members, employees or agents) shall be commenced exclusively in the state and federal courts sitting in the City of New York.  The
Company hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the City of New York, Borough of Manhattan for the adjudication of any dispute
hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein (including with respect to the enforcement of this Debenture), and hereby irrevocably
waives, and agrees not to assert in any Action or Proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such Action or Proceeding is improper or is an
inconvenient venue for such Proceeding.  The Company hereby irrevocably waives personal service of process and consents to process being served in any such Action or 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 the Purchase 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 other manner permitted by law.  If the Company or the Holder (or any of their respective affiliates, directors, officers, shareholders, partners, members, employees or agents) shall
commence an Action or Proceeding to enforce any provisions of this Debenture, then, in addition to the

                                                                47

obligations of the Company under Section 4.10 of the Purchase Agreement, the
prevailing party in such Action or Proceeding shall be reimbursed by the non-prevailing party for its reasonable attorneys' fees and other costs and expenses incurred with the investigation,
preparation and prosecution of such Action or Proceeding.  Nothing contained herein shall be deemed or operate to preclude the Holder from an Action or Proceeding 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.

	Waiver.  Any waiver by the Company or the Holder of a breach of any provision of this Debenture shall not operate as or be construed to be a waiver of
any other breach of such provision or of any breach of any other provision of this Debenture.  The failure of the Company or the Holder to insist upon strict adherence to any term of this
Debenture on one or more occasions shall not be considered a waiver or deprive that party of the right thereafter to insist upon strict adherence to that term or any other term of this Debenture
on any other occasion.  Any waiver by the Company or the Holder must be in writing.  

	Severability.  If any provision of this Debenture is invalid, illegal or unenforceable, the balance of this Debenture shall remain in effect, and if any provision
is inapplicable to any Person or circumstance, it shall nevertheless remain applicable to all other Persons and circumstances.  If it shall be found that any interest or other amount deemed
interest due hereunder violates the applicable law governing usury, the applicable rate of interest due hereunder shall automatically be lowered to equal the maximum rate of interest permitted
under applicable law. The Company covenants (to the extent that it may lawfully do so) that it shall not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or
advantage of, any stay, extension or usury law or other law which would prohibit or forgive the Company from paying all or any portion of the principal of or interest on this Debenture as
contemplated herein, wherever enacted, now or at any time hereafter in force, or which may affect the covenants or the performance of this Debenture, and the Company (to the extent it may
lawfully do so) hereby expressly waives all benefits or advantage of any such law, and covenants that it will not, by resort to any such law, hinder, delay or impede the execution of any power
herein granted to the Holder, but will suffer and permit the execution of every such as though no such law has been enacted.

	Remedies, Characterizations, Other Obligations, Breaches and Injunctive Relief. The remedies provided in this Debenture shall be cumulative and in
addition to all other remedies available under this Debenture and any of 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 Holder's right to pursue actual and consequential damages for any failure by the Company to comply with the terms of this Debenture.  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

                                                                48

provided for herein with
respect to payments, conversion 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 shall be entitled, in addition to
all other available remedies, to an injunction restraining any such breach or any such threatened breach, without the necessity of showing economic loss and without any bond or other security
being required. The Company shall provide all information and documentation to the Holder that is requested by the Holder to enable the Holder to confirm the Company's compliance with the
terms and conditions of this Debenture.

	Next Business Day.  Whenever any payment or other obligation hereunder shall be due on a day other than a Business Day, such payment shall be made
on the next succeeding Business Day.

	Headings.  The headings contained herein are for convenience only, do not constitute a part of this Debenture and shall not be deemed to limit or affect
any of the provisions hereof.

	Secured and Guaranteed Obligation.  The obligations of the Company under this Debenture are secured by all assets of the Company and each
Subsidiary pursuant to the Security Agreement, dated as of December 30, 2014 between the Company, the Subsidiaries of the Company and the Secured Parties (as defined therein) and
guaranteed by the Company's U.S. Subsidiaries pursuant to the Guaranty, dated as of December 30, 2014.

	Dispute Resolution.  In the case of a dispute as to the determination of the Closing Bid Price, the Closing Sale Price or the VWAP or the Conversion Price
or any redemption price, the Company shall submit the disputed determinations or arithmetic calculations via facsimile or electronic mail within one (1) Business Day of receipt, or deemed
receipt, of the Notice of Conversion or other event giving rise to such dispute, as the case may be, to the Holder.  If the Holder and the Company are unable to agree upon such determination
or calculation within one (1) Business Day of such disputed determination or arithmetic calculation being submitted to the Holder, then the Company shall, within one Business Day submit via
facsimile or electronic mail (i) the disputed determination of the Closing Bid Price, the Closing Sale Price or the VWAP to an independent, reputable investment bank selected by the Holder and
approved by the Company, such approval not to be unreasonably withheld or delayed, or (ii) the Conversion Price or any redemption price to an independent, outside accountant, selected by
the Holder and approved by the Company, such approval not to be unreasonably withheld or delayed.  The Company, at the Company's expense, shall cause the investment bank or the
accountant, as the case may be, to perform the determinations or

                                                                49

calculations and notify the Company and the Holder of the results no later than five (5) Business Days from the time it
receives the disputed determinations or calculations.  Such investment bank's or accountant's determination or calculation, as the case may be, shall be binding upon all parties absent
demonstrable error.

	WAIVER OF JURY TRIAL.  IN ANY ACTION OR PROCEEDING IN ANY JURISDICTION BROUGHT BY OR ON BEHALF OF THE COMPANY
AGAINST ANY OTHER PERSON IN CONNECTION WITH OR ARISING OUT OF THIS DEBENTURE OR ANY TRANSACTIONS CONTEMPLATED HEREBY, THE COMPANY KNOWINGLY
AND INTENTIONALLY, TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY ABSOLUTELY, UNCONDITIONALLY, IRREVOCABLY AND EXPRESSLY WAIVES
FOREVER TRIAL BY JURY.   

*********************

(Signature Pages Follow)

                                                                50

IN WITNESS WHEREOF, the Company has caused this Debenture to be duly executed by a duly authorized officer as of the
date first above indicated.

	
S&W SEED COMPANY

 

	
By:__________________________________________

         Name:

        Title:

   Facsimile No. for delivery of Notices: _______________

	 
	 

                                                                51

ANNEX A

NOTICE OF CONVERSION

The undersigned hereby elects to convert principal under the 8% Senior Secured Convertible Debenture due ________ of S&W Seed Company, a Nevada
corporation (the "Company"), into shares of common stock (the "Common Stock"), of the Company according to the conditions hereof, as of the date
written below.  If shares of Common Stock are to be issued in the name of a person other than the undersigned, the undersigned will pay all transfer taxes payable with respect thereto and is
delivering herewith such certificates and opinions as reasonably requested by the Company in accordance therewith.  No fee will be charged to the holder for any conversion, except for such
transfer taxes, if any.

By the delivery of this Notice of Conversion the undersigned represents and warrants to the Company that its ownership of the Common Stock does not exceed the
amounts specified under Section 4 of this Debenture, as determined in accordance with Section 13(d) of the Exchange Act.

The undersigned agrees to comply with any applicable prospectus delivery requirements under the applicable securities laws (or an exemption therefrom) in
connection with any transfer of the aforesaid shares of Common Stock.  

Conversion calculations:

Date to Effect Conversion:

Principal Amount of Debenture to be Converted:

Number of shares of Common Stock to be issued:

Signature:

Name:

Address for Delivery of Common Stock Certificates:

Or

DWAC Instructions:

Broker No: _____________________

Account No: ___________________

                                                                52

Schedule 1

CONVERSION SCHEDULE

The 8% Senior Secured Convertible Debentures due on November 30, 2017 in the aggregate principal amount of $____________ are issued by S&W Seed
Company, a Nevada corporation.  This Conversion Schedule reflects conversions made under Section 4 of the above referenced Debenture.

Dated: 

	

Date of Conversion

                  (or for first entry,
Original Issue Date)
	

Amount of
Conversion
	

Aggregate
Principal
Amount
Remaining
Subsequent to
Conversion

         (or original
Principal
Amount)
	

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                                                                53

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