Document:

EX-4.2

 Exhibit 4.2 

Execution Copy 
  

 
 THERMO FISHER SCIENTIFIC (FINANCE I)
B.V., 
 as Issuer 
 THERMO
FISHER SCIENTIFIC INC., 
 as Guarantor 

AND 
 THE BANK OF NEW YORK MELLON
TRUST COMPANY, N.A., 
 as Trustee 

THIRD SUPPLEMENTAL INDENTURE 

Dated as of October 18, 2021 

0.800% Senior Notes due 2030 

1.125% Senior Notes due 2033 

1.625% Senior Notes due 2041 

2.000% Senior Notes due 2051 
  

 

 THIS THIRD SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”) is dated as of
October 18, 2021 among THERMO FISHER SCIENTIFIC (FINANCE I) B.V., a private limited liability company (besloten vennootschap met beperkte aansprakelijkheid) incorporated under the laws of the Netherlands, with its corporate seat
(statutaire zetel) in Breda, the Netherlands, and its registered office at Takkebijsters 1, 4817 BL Breda, the Netherlands, registered with the Dutch Trade Register of the Chamber of Commerce under number 66428319 (the
“Company”), THERMO FISHER SCIENTIFIC INC., a Delaware corporation (the “Guarantor”), and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., a national banking association, as trustee (the “Trustee”).

 RECITALS 
 WHEREAS, the
Company, the Guarantor and the Trustee executed and delivered an indenture, dated as of August 9, 2016 (the “Base Indenture” and, as supplemented by this Supplemental Indenture, the “Indenture”), to provide for
the issuance by the Company from time to time of debt securities evidencing the Company’s unsecured indebtedness fully and unconditionally guaranteed by the Guarantor. 

WHEREAS, the Company has authorized the issuance of €1,750,000,000 aggregate principal amount of the Company’s 0.800% Senior Notes
due 2030 (the “2030 Notes”), €1,500,000,000 aggregate principal amount of the Company’s 1.125% Senior Notes due 2033 (the “2033 Notes”), €1,250,000,000 aggregate principal amount of the Company’s
1.625% Senior Notes due 2041 (the “2041 Notes”) and €750,000,000 aggregate principal amount of the Company’s 2.000% Senior Notes due 2051 (the “2051 Notes” and, together with the 2030 Notes, the 2033 Notes
and the 2041 Notes, the “Notes”). 
 WHEREAS, the Company and the Guarantor desire to enter into this Supplemental
Indenture pursuant to Section 9.01 of the Base Indenture to establish the form and terms of the Notes in accordance with Sections 2.01 and 2.02 of the Base Indenture. 

WHEREAS, the Guarantor desires to guarantee the Notes on the terms set forth in Article XIV of the Base Indenture. 

WHEREAS, the entry into this Supplemental Indenture by the parties hereto is in all respects authorized by the provisions of the Base
Indenture. 
 WHEREAS, all things necessary to make this Supplemental Indenture a valid and legally binding agreement according to its terms
have been done. 
 NOW, THEREFORE, for and in consideration of the foregoing premises and for other good and valuable consideration, the
Company, the Guarantor and the Trustee, mutually covenant and agree for the equal and proportionate benefit of the respective Holders from time to time of the Notes as follows: 

  
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 ARTICLE I 

Section 1.1 Defined Terms. 

(1) Capitalized terms used but not defined in this Supplemental Indenture shall have the meanings ascribed thereto in the Base Indenture. 

(2) A term defined anywhere in this Supplemental Indenture has the same meaning throughout. 

(3) The singular includes the plural and vice versa. 

(4) Headings are for convenience of reference only and do not affect the interpretation. 

(5) As used herein, the following defined terms shall have the following meanings with respect to the Notes and this Supplemental Indenture
only: 
 “Below Investment Grade Rating Event” means, with respect to a series of Notes, such Notes are downgraded below
Investment Grade Rating by any two of the Rating Agencies on any date during the period (the “Trigger Period”) commencing 60 days prior to the first public announcement by the Company or the Guarantor of the occurrence of a
Change of Control (or pending Change of Control) and ending 60 days following consummation of such Change of Control (which Trigger Period shall be extended so long as the rating of such Notes is under publicly announced consideration for
possible downgrade by at least two of such Rating Agencies on such 60th day, such extension to last with respect to each such Rating Agency until the date on which such Rating Agency considering such possible downgrade either (x) rates
such Notes below Investment Grade or (y) publicly announces that it is no longer considering such Notes for possible downgrade, provided that no such extension will occur if on such 60th day such Notes are rated Investment Grade by
at least two of such Rating Agencies in question and are not subject to review for possible downgrade by such Rating Agencies). The Trustee shall not be responsible for monitoring, or charged with knowledge of, the ratings of the Notes. 

“Business Day” means any day, other than a Saturday or Sunday, (1) which is not a day on which banking institutions in
The City of New York or London are authorized or required by law, regulation or executive order to close and (2) on which the Trans-European Automated Real-Time Gross Settlement Express Transfer system (the TARGET2 system), or any successor
thereto, is open. 
 “Change of Control” means the occurrence of any of the following: (1) the direct or indirect
sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the properties or assets of the Guarantor and its subsidiaries taken as a
whole to any “person” (as that term is used in Section 13(d)(3) of the Exchange Act) other than the Guarantor or one of its direct or indirect wholly-owned subsidiaries; (2) the consummation of any transaction (including, without
limitation, any merger or consolidation) as a result of which any “person” (as that term is used in Section 13(d)(3) of the Exchange Act) becomes the “beneficial owner” (as defined in Rules
13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the Guarantor’s outstanding Voting Stock or other Voting Stock into which the
Guarantor’s Voting Stock is reclassified, consolidated, exchanged or changed, measured by voting power rather than number of shares; (3) the Guarantor consolidates with, or merges with or into, any “person” or

  
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“group” (as that term is used in Section 13(d)(3) of the Exchange Act), or any “person” or “group” consolidates with, or merges with or into, the Guarantor, in
any such event pursuant to a transaction in which any of the Guarantor’s Voting Stock or the Voting Stock of such other person is converted into or exchanged for cash, securities or other property, other than any such transaction where the
shares of the Guarantor’s Voting Stock outstanding immediately prior to such transaction constitute, or are converted into or exchanged for, a majority of the Voting Stock of the surviving person or any direct or indirect parent company of the
surviving person immediately after giving effect to such transaction; or (4) the adoption of a plan relating to the Guarantor’s liquidation or dissolution. Notwithstanding the foregoing, a transaction will not be deemed to involve a Change
of Control if (a) the Guarantor becomes a direct or indirect wholly-owned subsidiary of a holding company (which shall include a parent company) and (b)(i) the holders of the Voting Stock of such holding company immediately following that
transaction are substantially the same as the holders of the Guarantor’s Voting Stock immediately prior to that transaction or (ii) no “person” (as that term is used in Section 13(d)(3) of the Exchange Act) (other than a
holding company satisfying the requirements of this sentence) becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act),
directly or indirectly, of more than 50% of the voting power of the Voting Stock of such holding company immediately following such transaction. 

“Change of Control Triggering Event” means, with respect to any series of Notes, the occurrence of both a Change of Control
and a Below Investment Grade Rating Event. 
 “Clearing System Business Day” means Monday to Friday, except
December 25 and January 1. 
 “Clearstream” means Clearstream Banking S.A. 

“Common Safekeeper” means, with respect to the Global Notes, Euroclear, or such successor as Euroclear shall designate. 

“Common Service Provider” or “CSP” means, with respect to the Global Notes, The Bank of New York Mellon,
London Branch, which is the entity appointed by the ICSDs to service the Notes, or such successor as the ICSDs shall designate. 

“Comparable Bond Rate” means, for any Optional Redemption Date, the rate per annum equal to the annual equivalent yield to
maturity or interpolated yield to maturity (on a day count basis), computed as of the third Business Day immediately preceding that Optional Redemption Date, of the Comparable Government Issue, assuming a price for the Comparable Government Issue
(expressed as a percentage of its principal amount) equal to the Comparable Price for that Optional Redemption Date. 
 “Comparable
Government Issue” means, with respect to any series of Notes to be redeemed, the euro-denominated security issued by the German government selected by an Independent Investment Banker as having an actual or interpolated maturity comparable
to the remaining term of such series of Notes to be redeemed (assuming that such series of Notes to be redeemed matured on its applicable Par Call Date) that would be utilized, at the time of selection and in accordance with customary financial
practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of such series of Notes to be redeemed. 

  
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 “Comparable Price” means, with respect to any Optional Redemption Date,
(a) the average of the Reference Dealer Quotations for such Optional Redemption Date, after excluding the highest and lowest of the Reference Dealer Quotations, (b) if the Company obtains fewer than four Reference Dealer Quotations, the
arithmetic average of those quotations or (c) if the Company obtains only one Reference Dealer Quotation, such Reference Dealer Quotation. 

“Electronic Means” shall mean the following communications methods: e-mail, facsimile
transmission, secure electronic transmission containing applicable authorization codes, passwords and/or authentication keys issued by the Trustee, or another method or system specified by the Trustee as available for use in connection with its
services hereunder. 
 “Euroclear” means Euroclear Bank S.A./N.V. 

“euro” or “€” means the single currency introduced at the third stage of the European Economic and
Monetary Union pursuant to the Treaty establishing the European Community, as amended. 
 “Fitch” means Fitch Ratings,
Limited, and any successor to its rating agency business. 
 “Global Note” means with respect to each series of Notes,
the permanent, registered security in global form which will represent the relevant series of Notes on issue and includes any Global Note intended to be held under the new Safekeeping Structure and registered in the name of a nominee for the Common
Safekeeper. 
 “ICMA” means the International Capital Markets Association. 

“ICSD(s)” means Clearstream and/or Euroclear, as the case may be and/or any additional or alternative clearing system
approved by Parent, the Company, the Trustee and the Paying Agent (provided that such additional or alternative clearing system must also be authorized to hold a Global Note as eligible collateral for Eurosystem monetary policy and intra-day credit operations) collectively. 
 “Independent Investment Banker” means one
of the Reference Dealers appointed by the Company to act as the Independent Investment Banker. 
 “Internal Revenue
Code” means the U.S. Internal Revenue Code of 1986, as amended. 
 “Investment Grade Rating” means a
rating by Moody’s equal to or higher than Baa3 (or the equivalent under a successor rating category of Moody’s) or a rating by S&P equal to or higher than BBB- (or the equivalent under any
successor rating category of S&P) or a rating by Fitch equal to or higher than BBB- (or the equivalent under any successor rating category of Fitch). 

  
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 “Moody’s” means Moody’s Investors Service, Inc., and any
successor to its rating agency business. 
 “New Safekeeping Structure” or “NSS” means a structure where a
Global Note is registered in the name of a Common Safekeeper (or its nominee) and will be deposited on or about the issue date with the Common Safekeeper. 

“Optional Redemption Date” when used with respect to any Note to be redeemed at the Company’s option, means the date
fixed for such redemption by or pursuant to Section 1.4A of this Supplemental Indenture. 
 “Optional Redemption
Price” when used with respect to any Note to be redeemed at the Company’s option, means the price at which it is to be redeemed pursuant to Section 1.4A of this Supplemental Indenture. 

“Par Call Date” means July 18, 2030 in the case of the 2030 Notes; July 18, 2033 in the case of the 2033 Notes;
April 18, 2041 in the case of the 2041 Notes; and April 18, 2051 in the case of the 2051 Notes. 
 “Paying Agency
Agreement” means the Paying Agency Agreement, dated as of October 18, 2021 between the Company and the Paying Agent. 

“Paying Agent” means The Bank of New York Mellon, London Branch, or any successor. 

“Primary Bond Dealer” means a broker or dealer of, and/or a market maker in German government bonds. 

“Rating Agencies” means (1) Moody’s, S&P and Fitch; and (2) if any of Moody’s, S&P or Fitch
ceases to rate the applicable series of Notes or fails to make a rating of such Notes publicly available for any reason, a “nationally recognized statistical rating organization” within the meaning of Section 3(a)(62) under the
Exchange Act, selected by the Company (as certified by a resolution of its Board of Directors) as a replacement agency for any of Moody’s, S&P or Fitch, or all of them, as the case may be. 

“Reference Dealer” means each of (i) Barclays Bank PLC, Morgan Stanley Europe SE, BofA Securities Europe SA, Citigroup
Global Markets Europe AG and Mizuho Securities Europe GmbH and their respective affiliates or successors and (ii) one other nationally recognized investment banking firm (or its affiliate) that is a Primary Bond Dealer that the Company selects
in connection with the particular redemption, and each of their respective successors, provided that if at any time any of the above is not a Primary Bond Dealer, the Company will substitute that entity with another
nationally recognized investment banking firm that the Company selects that is a Primary Bond Dealer. 
 “Reference Dealer
Quotations” means, with respect to each Reference Dealer and any Optional Redemption Date, the arithmetic average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Government Issue
(expressed in each case as a percentage of its principal amount) quoted in writing to the Independent Investment Banker by such Reference Dealer at 11:00 a.m., London time, on the third Business Day preceding such Optional Redemption Date. 

  
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 “Remaining Scheduled Payments” means, with respect to any series of Notes
to be redeemed, the remaining scheduled payments of the principal thereof and interest thereon that would be due after the related Optional Redemption Date but for such redemption (assuming that such series of Notes to be redeemed matured on its
applicable Par Call Date); provided, however, that, if such Optional Redemption Date is not an interest payment date with respect to such series of Notes, the amount of the next succeeding scheduled interest payment thereon will be
reduced by the amount of interest accrued thereon to such Optional Redemption Date. 
 “S&P” means S&P Global
Ratings, a division of S&P Global, Inc., and any successor to its rating agency business. 
 “Specified Office of the Paying
Agent” means, initially, the London Branch of The Bank of New York Mellon, located at One Canada Square, London E14 5AL, England. 

“TARGET2 Business Day” means any day on which the Trans-European Automated Real-Time Gross Settlement Express Transfer
System(TARGET2), or any successor system, is open for business. 
 “Treasury Regulations” means the U.S. Treasury
Regulations promulgated under the Internal Revenue Code. 
 “United States” means the United States of America, the states
of the United States, and the District of Columbia. 
 “Voting Stock” means with respect to any specified person (as that
term is used in Section 13(d)(3) of the Exchange Act) Capital Stock of any class or kind the holders of which are ordinarily, in the absence of contingencies, entitled to vote for the election of directors (or persons performing similar
functions) of such person, even if the right to vote has been suspended by the happening of such a contingency. 
 Section 1.2
Terms of the Notes. 
 The following terms relate to the Notes: 

(1) The 2030 Notes shall constitute a separate series of Notes having the title “0.800% Senior Notes due 2030,” the 2033 Notes shall
constitute a separate series of Notes having the title “1.125% Senior Notes due 2033,” the 2041 Notes shall constitute a separate series of Notes having the title “1.625% Senior Notes due 2041” and the 2051 Notes shall constitute
a separate series of Notes having the title “2.000% Senior Notes due 2051.” 
 (2) The aggregate principal amount of the 2030 Notes
(the “Initial 2030 Notes”), the 2033 Notes (the “Initial 2033 Notes”), the 2041 Notes (the “Initial 2041 Notes”) and the 2051 Notes (the “Initial 2051 Notes,” and, together with the
Initial 2030 Notes, the Initial 2033 Notes and the Initial 2041 Notes, the “Initial Notes”) that may be initially authenticated, delivered and effectuated under the Indenture shall be €1,750,000,000, €1,500,000,000,

  
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€1,250,000,000 and €750,000,000, respectively. The Company may from time to time, without the consent of the Holders of any series of Notes, issue additional 2030 Notes (the
“Additional 2030 Notes”), additional 2033 Notes (the “Additional 2033 Notes”), additional 2041 Notes (the “Additional 2041 Notes”) and additional 2051 Notes (the “Additional 2051
Notes,” and, together with the Additional 2030 Notes, the Additional 2033 Notes and the Additional 2041 Notes, the “Additional Notes”) having the same terms (except for the issue date, offering price and, if applicable, the
first interest payment date) as the Initial 2030 Notes, Initial 2033 Notes, Initial 2041 Notes and the Initial 2051 Notes, as the case may be. Any Additional Notes of a series and the Initial Notes of such series shall constitute a single series
under the Indenture; provided that if any Additional Notes of a series are not fungible with the Initial Notes of such series for U.S. federal income tax purposes, such Additional Notes of such series shall not have the same ISIN or Common
Code as the Initial Notes of such series. All references to a series of Notes shall include both the Initial Notes and any Additional Notes of such series, unless the context otherwise requires. The aggregate principal amount of each of the 2030
Notes, 2033 Notes, 2041 Notes and the 2051 Notes shall be unlimited. The entire respective outstanding principal amount of the 2030 Notes, 2033 Notes, 2041 Notes and the 2051 Notes shall be payable on October 18, 2030, October 18, 2033,
October 18, 2041 and October 18, 2051, respectively. The principal of each Note payable at maturity or upon earlier redemption shall be paid against presentation and surrender of such Note at the office or agency maintained for such
purposes in London, initially, the Specified Office of the Paying Agent. In the case of a Global Note in respect of the Notes intended to be held under the New Safekeeping Structure (the “NSS”), save for the purposes of determining
the Notes that are outstanding for consent or voting purposes under the Base Indenture, the Trustee shall rely on the records of the ICSDs in relation to any determination of the principal amount outstanding of such Global Note. For this purpose
“records” means the records that each of the ICSDs holds for its customers which reflects the amount of such customer’s interest in the Notes. 

(3) [Reserved]. 
 (4) The
rate at which the 2030 Notes shall bear interest shall be 0.800% per annum, the rate at which the 2033 Notes shall bear interest shall be 1.125% per annum, the rate at which the 2041 Notes shall bear interest shall be 1.625% per annum and the rate
at which the 2051 Notes shall bear interest shall be 2.000% per annum. The date from which interest shall accrue on each series of Notes shall be the most recent Interest Payment Date to which interest has been paid or provided for or, if no
interest has been paid, from October 18, 2021. The Interest Payment Dates for the Notes shall be October 18 of each year, beginning on October 18, 2022; provided that if any Interest Payment Date for any series of Notes falls on a day
that is not a Business Day, the required payment shall be made on the next Business Day as if it were made on the date the payment to Holders was due and no interest shall accrue on the amount so payable for the period from and after that Interest
Payment Date. The regular record date for the Notes shall be the Clearing System Business Day immediately preceding each Interest Payment Date. Interest on the Notes shall be computed on the basis of an ACTUAL/ACTUAL (ICMA) (as defined in the
rulebook of ICMA) day count convention. 

  
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 (5) The Notes shall be issuable in whole in the form of Global Notes, registered in the name
of the nominee of Euroclear as Common Safekeeper and deposited with, or on behalf of, the Common Safekeeper for credit by the Common Safekeeper to the respective accounts of beneficial owners represented thereby (or such other accounts as they may
direct). Each Note shall be substantially in the form attached hereto as Exhibit A, the terms of which are herein incorporated by reference. The Notes shall be issuable in denominations of €100,000 or any integral multiple of €1,000 in
excess thereof. 
 (6) The Notes may be redeemed at the option of the Company prior to the maturity date, as provided in Section 1.4A
and 1.4B hereof. 
 (7) The Notes shall not have the benefit of any sinking fund. 

(8) Except as provided herein, the Holders shall have no special rights in addition to those provided in the Base Indenture upon the occurrence
of any particular events. 
 (9) The Notes shall be general unsecured and unsubordinated obligations of the Company and shall be ranked
equally among themselves. 
 (10) The Notes are not convertible into shares of common stock or other securities of the Company. 

(11) The covenants set forth in Section 1.5 hereof shall be applicable to the Notes. 

(12) The transfer and exchange provisions set forth in Section 2.05 of the Base Indenture shall be applicable to the Notes. 

(13) All payments of principal of, and interest (including Additional Amounts, if any) and premium (if any) on, the Notes shall be payable in
euro; provided, however, that if, on or after October 6, 2021, euro is unavailable to the Company or, in the case of the Guarantee, the Guarantor due to the imposition of exchange controls or other circumstances beyond the
Company’s or the Guarantor’s control or if the euro is no longer being used by the then member states of the European Economic and Monetary Union that have adopted the euro as their currency or for the settlement of transactions by public
institutions of or within the international banking community, then all payments in respect of the Notes shall be made in U.S. dollars until the euro is again available to the Company or, in the case of the Guarantee, the Guarantor or so used.
In such circumstances, the amount payable on any date in euro shall be converted by the Company into U.S. dollars at the rate mandated by the U.S. Federal Reserve Board as of the close of business on the second Business Day prior to the
relevant payment date or, in the event the U.S. Federal Reserve Board has not mandated a rate of conversion, on the basis of the most recent U.S. dollar/euro exchange rate published in The Wall Street Journal on or prior to the
second Business Day prior to the relevant payment date. Any payment in respect of the Notes so made in U.S. dollars shall not constitute an Event of Default under the Notes or the Indenture. Neither the Trustee nor the Paying Agent shall have
any responsibility for any calculation or conversion in connection with the foregoing. Any references elsewhere in the Indenture or the Notes to payments being made in euro notwithstanding, payments shall be made in U.S. dollars to the extent
set forth in this Section 1.2(13). 

  
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 (14) The Bank of New York Mellon, London Branch, shall initially act as the Paying Agent in
accordance with the terms of the Paying Agency Agreement. The Company hereby initially designates the Specified Office of the Paying Agent as the office to be maintained by it where Notes may be presented for payment, registration of transfer or
exchange, and where notices to or demands upon the Company in respect of the Notes or the Indenture may be served. The Security Registrar for the Notes shall initially be the Trustee. Upon notice to the Trustee, the Company may at any time vary or
terminate the appointment of any Paying Agent or Security Registrar, appoint additional or other Paying Agents or Security Registrars and approve any change in the office through which any Paying Agent or Security Registrar acts. The Company, the
Guarantor or any of the Guarantor’s Subsidiaries may act in any such capacity. 
 (15) In order to provide for all payments due on the
Notes as the same shall become due, the Company shall cause to be paid to the Paying Agent, no later than 10:00 a.m. London time on the Business Day prior to the payment date of each Note, at such bank as the Paying Agent shall previously have
notified the Company, in immediately available funds sufficient to meet all payments due on such Notes. 
 (16) Notwithstanding any other
provision of this Supplemental Indenture, the Trustee and Paying Agent shall be entitled to make a deduction or withholding from any payment which it makes under this Supplemental Indenture for or on account of any present or future taxes, duties or
charges if and to the extent so required by any applicable law and any current or future regulations or agreements thereunder or official interpretations thereof or any law implementing an intergovernmental approach thereto or by virtue of the
relevant Holder failing to satisfy any certification or other requirements in respect of the Notes, in which event the Trustee or Paying Agent shall make such payment after such withholding or deduction has been made and shall account to the
relevant authorities for the amount so withheld or deducted and shall have no obligation to gross up any payment hereunder or pay any additional amount as a result of such withholding tax. 

(17) The Notes shall have the benefit of a Guarantee from the Guarantor on the terms set forth in Article XIV of the Base Indenture. 

Section 1.3 Payment of Additional Amounts. 

The provisions of Section 15.02 of the Base Indenture shall apply to the Notes. Whenever in the Notes there is mentioned, in any context,
the payment of the principal of or interest or any other amounts on, or in respect of, such Notes, such mention shall be deemed to include mention of the payment of Additional Amounts to the extent that, in such context, Additional Amounts are, were
or would be payable in respect thereof pursuant to the terms hereof and the Base Indenture, and express mention of the payment of Additional Amounts in any provision of the Notes shall not be construed as excluding the payment of Additional Amounts
in those provisions thereof where such express mention is not made. Additional Amounts will not be payable by the Company with respect to a payment made to a Holder of Securities where such Holder is subject to taxation on such payment by a relevant
taxing jurisdiction for or on account of any withholding or deduction required to be made from payments in respect of debt securities pursuant to the Dutch Withholding Tax Act 2021 (Wet bronbelasting 2021). 

  
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 Section 1.4A Optional Redemption. 

(1) The provisions of Article III of the Base Indenture, as supplemented and amended by the provisions of this Supplemental Indenture, shall
apply to the Notes with respect to this Section 1.4A. 
 (2) Prior to their applicable Par Call Date, the Notes of any series shall be
redeemable, in whole at any time or in part from time to time, at the Company’s option. Upon redemption of the Notes of any series, the Company shall pay an Optional Redemption Price equal to the greater of: 

 

	 	(i)	 100% of the principal amount of the Notes to be redeemed, and 

 

	 	(ii)	 the sum of the present values of the Remaining Scheduled Payments of the Notes to be redeemed, discounted to
the Optional Redemption Date on an annual basis (ACTUAL/ACTUAL (ICMA)) using a discount rate equal to the Comparable Bond Rate, plus 20 basis points, in the case of the 2030 Notes, 20 basis points, in the case of the 2033 Notes, 25 basis points, in
the case of the 2041 Notes, and 30 basis points, in the case of the 2051 Notes; 

 plus, in addition to such Optional Redemption
Price, accrued and unpaid interest on the Notes being redeemed, if any, to, but excluding, the Optional Redemption Date. 
 In addition, on
and after the applicable Par Call Date, the Notes of each series shall be redeemable, in whole at any time or in part from time to time, at the Company’s option, at an Optional Redemption Price equal to 100% of the principal amount of the Notes
to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the Optional Redemption Date. 
 (3) Notwithstanding the
foregoing, installments of interest whose Stated Maturity is on or prior to the Optional Redemption Date shall be payable on the applicable Interest Payment Date to the Holders of such Notes registered as such at the close of business on the
applicable regular record date pursuant to the Notes and the Indenture. 
 (4) On and after the applicable Optional Redemption Date for any
series of Notes, interest shall cease to accrue on the Notes to be redeemed or any portion thereof called for redemption, unless the Company defaults in the payment of the Optional Redemption Price and accrued and unpaid interest and Additional
Amounts, if any. No later than 10:00 a.m. London time on the Business Day prior to the Optional Redemption Date for any Notes to be redeemed, the Company shall deposit with the Trustee or Paying Agent, funds sufficient to pay the Optional Redemption
Price of such Notes on the Optional Redemption Date, and (except if the date fixed for redemption shall be an Interest Payment Date) accrued and unpaid interest and Additional Amounts, if any. If less than all of the Notes of any series are to be
redeemed, the Notes to be redeemed shall be selected, in the case of global securities, in accordance with applicable Common Safekeeper procedures and, in the case of definitive securities, in a manner the trustee deems fair and appropriate, unless
otherwise required by law or applicable stock exchange requirements; provided that if the Notes are represented by a Global Note intended to be held under the New Safekeeping Structure, beneficial interests in the Notes will be selected

  
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for redemption by the ICSDs in accordance with their respective standard procedures therefor; provided, however, that no Notes of a principal amount of €100,000 or less shall be redeemed in
part. The Security Registrar shall record such redemption in the Security Register and shall provide the details of such redemption to the Common Safekeeper. The Trustee shall cause the Common Service Provider to instruct the Common Safekeeper to
make such appropriate entries in their records in respect of all Notes redeemed by the Company to reflect such redemption. 
 (5) Notice of
any optional redemption shall be transmitted at least 10 days but not more than 60 days before the applicable Optional Redemption Date to each Holder of the Notes to be redeemed; provided, however, that the Company shall notify the Trustee of the
Optional Redemption Date at least 15 days prior to the date of the giving of such notice (unless a shorter notice shall be satisfactory to the Trustee). Such notice shall be provided in accordance with Section 3.02 of the Base Indenture. If the
Optional Redemption Price cannot be determined at the time such notice is to be given, the actual Optional Redemption Price applicable to the Notes that are being redeemed, calculated as described above in clause (2), shall be set forth in an
Officers’ Certificate of the Company delivered to the Trustee no later than two (2) Business Days prior to the Optional Redemption Date. Notice of redemption having been given as provided in the Indenture, the Notes called for redemption
shall, on the Optional Redemption Date, become due and payable at the Optional Redemption Price, plus accrued and unpaid interest and Additional Amounts, if any, to, but excluding, the Optional Redemption Date. 

Section 1.4B Redemption Upon Changes in Withholding Tax. 

The provisions of Section 15.01 of the Base Indenture shall apply to the Notes. The redemption price for any redemption pursuant to this
Section 1.4B shall be paid prior to 12:00 noon, London time, on the applicable redemption date or at such later time as is then permitted by the rules of the Common Safekeeper applicable to the Notes (if then registered as Global Notes);
provided, that the Company shall deposit or have deposited with the Trustee or the Paying Agent an amount sufficient to pay such redemption price by 10:00 a.m., London time, on the Business Day prior to the date such redemption price is
to be paid. If money sufficient to pay the redemption price of the Notes on the applicable redemption date is deposited with the Trustee or Paying Agent on or before such redemption date as provided herein, then on and after such redemption date,
interest will cease to accrue on the Notes. 
 Section 1.5 Change of Control Triggering Event. 

The following additional covenants shall apply with respect to the Notes so long as any of the Notes remain Outstanding: 

(a) If a Change of Control Triggering Event occurs with respect to any series of the Notes, unless the Company shall have redeemed such series
of the Notes in full, as set forth in Section 1.4A or 1.4B of this Supplemental Indenture, the Company shall have defeased such series of the Notes or have satisfied and discharged such series of the Notes, as set forth in Article XI of
the Base Indenture, the Company shall make an offer (a “Change of Control Offer”) to each Holder of the applicable series of the Notes to repurchase any and all of such Holder’s Notes of such series at a repurchase price in
cash equal to 101% of the aggregate principal amount of the Notes to be repurchased (such principal amount to be equal to €100,000 

  
 12 

 
or any integral multiple of €1,000 in excess thereof), plus accrued and unpaid interest, if any, on the Notes to be repurchased up to, but excluding, the date of repurchase (the
“Change of Control Payment”). Within 30 days following any Change of Control Triggering Event, notice shall be delivered to the Holders of Notes of such series describing the transaction or transactions that constitute the
Change of Control Triggering Event and offering to repurchase such Notes on the date specified in the notice, which date will be no earlier than 15 days and no later than 60 days from the date such notice is delivered (the “Change
of Control Payment Date”). Notwithstanding the foregoing, installments of interest whose Stated Maturity is on or prior to the Change of Control Payment Date shall be payable on the applicable Interest Payment Date to the Holders of such
Notes registered as such at the close of business on the applicable regular record date pursuant to the Notes and the Indenture. 
 (b) On
the Change of Control Payment Date, the Company shall, to the extent lawful: 
  

	 	(i)	 accept for payment all Notes or portions of Notes of the applicable series properly tendered pursuant to the
Change of Control Offer; 

  

	 	(ii)	 deposit with the Trustee or a paying agent an amount equal to the Change of Control Payment in respect of all
Notes or portions of Notes of the applicable series properly tendered; and 

  

	 	(iii)	 deliver or cause to be delivered to the Trustee the Notes properly accepted, together with an Officer’s
Certificate stating (1) the aggregate principal amount of such series of Notes or portions of such series of Notes being repurchased, (2) that all conditions precedent contained herein to make a Change of Control Offer have been complied
with and (3) that the Change of Control Offer has been made in compliance with the Indenture. 

 The Company shall
comply in all material respects with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the extent such laws and regulations are applicable
in connection with the repurchase of the Notes as a result of a Change of Control Triggering Event. To the extent that the provisions of any such securities laws or regulations conflict with this Section 1.5, the Company shall comply with the
applicable securities laws and regulations and shall not be deemed to have breached its obligations under this Section 1.5 by virtue of any such conflict. 

Section 1.6 Events of Default. 

The provisions of Article VI of the Base Indenture shall be applicable to each series of the Notes, except that clauses (1) through
(7) of Section 6.01(a) thereof shall be modified with respect to Notes of a series as follows: 
 (1) default in the payment of the
principal or any premium on such series of Notes when due (whether at maturity, upon acceleration, redemption or otherwise); 
 (2) default
for 30 days in the payment of interest on the Notes of such series when due; 

  
 13 

 (3) (i) failure by the Company to comply with Section 1.5 of this Supplemental
Indenture with respect to such series or (ii) failure by the Company or the Guarantor to observe or perform any term of the Indenture applicable to such series of Notes (other than those referred to in (1) or (2) above or (3)(i) above) for
a period of 90 days after the Company receives a notice of default stating that the Company or the Guarantor is in breach. The notice required under (3)(ii) above must be sent by either the Trustee or Holders of 25% of the principal amount of
the applicable series of Notes; 
 (4) (A) failure by the Company or the Guarantor to pay indebtedness for money borrowed by the Company or
the Guarantor or for which the Company or the Guarantor has guaranteed the payment, in an aggregate principal amount of at least $500,000,000, at the later of final maturity and the expiration of any related applicable grace period and such
defaulted payment shall not have been made, waived or extended within 30 days or (B) acceleration of the maturity of any indebtedness for money borrowed by the Company or the Guarantor or for which the Company or the Guarantor has
guaranteed the payment, in an aggregate principal amount of at least $500,000,000, if such indebtedness has not been discharged in full or such acceleration has not been rescinded or annulled within 30 days; provided, however,
that, if the default under the instrument is cured by the Company or the Guarantor, as applicable, or waived by the holders of the indebtedness, in each case as permitted by the governing instrument, then the Event of Default under the Indenture
caused by such default will be deemed likewise to be cured or waived; 
 (5) the entry by a court having competent jurisdiction of: 

(A) an order for relief in respect of the Company or the Guarantor as debtor in an involuntary proceeding under any applicable
Bankruptcy Law and such order shall remain unstayed and in effect for a period of 60 consecutive days; or 
 (B) a final and non-appealable order appointing a Custodian of the Company or the Guarantor, or ordering the winding up or liquidation of the affairs of the Company or the Guarantor, and such order shall remain unstayed and in
effect for a period of 60 consecutive days; 
 (6) the commencement by the Company or the Guarantor of a voluntary proceeding under any
applicable Bankruptcy Law or the consent by the Company or the Guarantor as debtor to the entry of a decree or order for relief in an involuntary proceeding under any applicable Bankruptcy Law, or the filing by the Company or the Guarantor as debtor
of a consent to an order for relief in any involuntary proceeding under any Bankruptcy Law, or to the appointment of a Custodian or the making by the Company or the Guarantor of an assignment for the benefit of creditors; or 

(7) the Guarantee of the Notes of such series is determined in a final, non-appealable judgment to be
unenforceable or invalid or such Guarantee is asserted in writing by the Company or the Guarantor to no longer be in full force and effect and enforceable in accordance with its terms. 

  
 14 

 Section 1.7 Form of Effectuation Instruction for the Notes: 

The Common Service Provider’s form of Effectuation Instruction shall be in substantially the following form: 

Issuer: Thermo Fisher Scientific (Finance I) B.V. 

Currency and nominal Amount: € 

ISIN: 
 Dear Sir/Madam, 

We hereby instruct you to effectuate the global note. 

 

			
	Dated:
	
	The Bank of New York Mellon, London Branch
	
	As Common Service Provider
		
	By:	 	                                      
                                      
	Authorized Signatory

 Section 1.8 Effectuation of the Notes 

No Global Note in respect of the Notes shall be valid or obligatory for any purposes until it has been effectuated for or on behalf of the
Common Safekeeper. 
 Section 1.9 Destroy Option 

In the case of a Global Note, the Common Safekeeper may destroy such Global Note in accordance with the normal procedures of the Common
Safekeeper upon maturity and final redemption of such Global Note. 
 ARTICLE II 

MISCELLANEOUS 

Section 2.1 Business Day. 

If any maturity date or earlier date of redemption for any series of Notes falls on a day that is not a Business Day, the required payment
shall be made on the next Business Day as if it were made on the date the payment to Holders was due and no interest shall accrue on the amount so payable for the period from and after that maturity date or that date of redemption, as the case may
be. 

  
 15 

 Section 2.2 [Reserved]. 

Section 2.3 Confirmation of Indenture. 

The Base Indenture, as supplemented and amended by this Supplemental Indenture, is in all respects ratified and confirmed, and the Base
Indenture, this Supplemental Indenture and all indentures supplemental thereto shall be read, taken and construed as one and the same instrument. 

Section 2.4 Concerning the Trustee. 

In carrying out its responsibilities hereunder, the Trustee shall have all of the rights, protections and immunities which it possesses under
the Indenture. The recitals contained herein and in the Notes, except the Trustee’s certificate of authentication, shall be taken as the statements of the Company, and the Trustee assumes no responsibility for their correctness. The Trustee
makes no representations as to the validity or sufficiency of this Supplemental Indenture or of the Notes. The Trustee shall not be accountable for the use or application by the Company of the Notes or the proceeds thereof. 

Section 2.5 Governing Law. 

This Supplemental Indenture and the Notes shall be deemed to be a contract made under the internal laws of the State of New York, and for all
purposes shall be construed in accordance with the laws of said State. 
 Section 2.6 Separability. 

In case any provision in this Supplemental Indenture shall for any reason be held to be invalid, illegal or unenforceable, the validity,
legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 Section 2.7
Counterparts. 
 This Supplemental Indenture may be executed in any number of counterparts each of which shall be an original, but
such counterparts shall together constitute but one and the same instrument. The exchange of copies of this Supplemental Indenture and of signature pages by facsimile or electronic format (e.g., “.pdf” or “.tif”) transmission
shall constitute effective execution and delivery of this Supplemental Indenture as to the parties hereto and may be used in lieu of the original Supplemental Indenture for all purposes. 

The words “execution,” “signed,” “signature,” and words of like import in this Supplemental Indenture, the
Indenture or any agreement entered into in connection herewith shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually
executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State
Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act (e.g. DocuSign). 

  
 16 

 
Without limitation to the foregoing, and anything in the Indenture to the contrary notwithstanding, (a) any Officer’s Certificate, Authentication Order, Opinion of Counsel, Security,
certificate of authentication appearing on or attached to any Security, or other certificate, opinion of counsel, instrument, agreement or other document delivered pursuant to the Indenture may be executed, attested and transmitted by any of the
foregoing electronic means and formats and (b) all references in Section 2.04 or elsewhere in the Base Indenture to the execution, attestation or authentication of any Security or any certificate of authentication appearing on or attached
to any Security by means of a manual or facsimile signature shall be deemed to include signatures that are made or transmitted by any of the foregoing electronic means or formats. 

Section 2.8 No Benefit. 

Nothing in this Supplemental Indenture, express or implied, shall give to any Person other than the parties hereto and their successors or
assigns, and the Holders, any benefit or legal or equitable rights, remedy or claim under this Supplemental Indenture or the Base Indenture. 

Section 2.9 Power of Attorney. 

If any party to this Supplemental Indenture is represented by an attorney or attorneys in connection with the signing and/or execution and/or
delivery of this Supplemental Indenture or any agreement or document referred to herein or made pursuant hereto, including any Note, and the relevant power or powers of attorney is or are expressed to be governed by the laws of a particular
jurisdiction, it is hereby expressly acknowledged and accepted by the other parties hereto that such laws shall govern the existence and extent of such attorney’s or attorneys’ authority and the effects of the exercise thereof. 

Section 2.10 Electronic Means. 

The Trustee shall have the right to accept and act upon instructions, including funds transfer instructions (“Instructions”)
given pursuant to the Indenture and delivered using Electronic Means; provided, however, that the Company shall provide to the Trustee an incumbency certificate listing officers with the authority to provide such Instructions (“Authorized
Officers”) and containing specimen signatures of such Authorized Officers, which incumbency certificate shall be amended by the Company whenever a person is to be added or deleted from the listing. If the Company elects to give the
Trustee Instructions using Electronic Means and the Trustee in its discretion elects to act upon such Instructions, the Trustee’s understanding of such Instructions shall be deemed controlling. The Company understands and agrees that the
Trustee cannot determine the identity of the actual sender of such Instructions and that the Trustee shall conclusively presume that directions that purport to have been sent by an Authorized Officer listed on the incumbency certificate provided to
the Trustee have been sent by such Authorized Officer. The Company shall be responsible for ensuring that only Authorized Officers transmit such Instructions to the Trustee and that the Company and all Authorized Officers are solely responsible
to safeguard the use and confidentiality of applicable user and authorization codes, passwords and/or authentication keys upon receipt by the Company. The Trustee shall not be liable for any losses, costs or expenses arising directly or
indirectly from the Trustee’s reliance upon and compliance with such Instructions 

  
 17 

 
notwithstanding such directions conflict or are inconsistent with a subsequent written instruction. The Company agrees: (i) to assume all risks arising out of the use of Electronic
Means to submit Instructions to the Trustee, including without limitation the risk of the Trustee acting on unauthorized Instructions, and the risk of interception and misuse by third parties; (ii) that it is fully informed of the protections
and risks associated with the various methods of transmitting Instructions to the Trustee and that there may be more secure methods of transmitting Instructions than the method(s) selected by the Issuer; (iii) that the security procedures (if
any) to be followed in connection with its transmission of Instructions provide to it a commercially reasonable degree of protection in light of its particular needs and circumstances; and (iv) to notify the Trustee immediately upon learning of
any compromise or unauthorized use of the security procedures. 
 Section 2.11 OFAC Certification and Covenants. 

(a) The Company covenants and represents that neither it nor any of its subsidiaries, directors or officers are the target or subject of any
sanctions enforced by the US Government, (including, the Office of Foreign Assets Control of the US Department of the Treasury (“OFAC”)), the United Nations Security Council, the European Union, or Her Majesty’s Treasury
(collectively “Sanctions”). 
 (b) The Company covenants and represents that neither it nor any of its subsidiaries,
directors or officers will use any part of the proceeds received in connection with the Indenture and the Notes to be issued thereunder or any other of the transaction documents to fund or facilitate any activities of or business with any person
who, at the time of such funding or facilitation, to the Company’s knowledge after due inquiry, is the subject or target of Sanctions. It is acknowledged and agreed that the covenants and representations in this Section 2.11 are only
sought and given to the extent that to do so would not be unenforceable by or in respect of that person by reason of breach of (i) any provision of Council Regulation (EC) No 2271/96 of 22 November 1996 (or any law or regulation
implementing such Regulation in any member state of the European Union) or (ii) Council Regulation (EC) No 2271/96 as it forms part of domestic law in the United Kingdom by virtue of the European Union (Withdrawal) Act 2018 (or any law or
regulation implementing such Regulation in the United Kingdom). 
 [Signatures on Following Page] 

  
 18 

 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed all as of the day and year first above written. 
  

			
	THERMO FISHER SCIENTIFIC (FINANCE I) B.V.
		
	By:	 	 /s/ Anthony H. Smith

		 	Name: Anthony H. Smith
		 	Title:   Managing Director
	
	THERMO FISHER SCIENTIFIC INC.
		
	By:	 	 /s/ Anthony H. Smith

		 	Name: Anthony H. Smith
		 	 Title:   Vice President, Tax and Treasury

            and Treasurer

 [Signature Page to Third Supplemental Indenture] 

 
			
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee
		
	By:	 	 /s/ Shannon Matthews

		 	Name: Shannon Matthews
		 	Title:   Vice President

 [Signature Page to Third Supplemental Indenture] 

 EXHIBIT A 

THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE NOMINEE OF THE ENTITY
APPOINTED AS COMMON SAFEKEEPER FOR EUROCLEAR BANK S.A./N.V. (“EUROCLEAR”) AND CLEARSTREAM BANKING S.A. (“CLEARSTREAM”). 

[     ]%1 SENIOR NOTES DUE [     ]2 
  

			
	 No. [     ]
	  	€[     ]
	 ISIN No. [    
]3
	  	

 THERMO FISHER SCIENTIFIC (FINANCE I) B.V. 

(a private company with limited liability (besloten vennootschap met beperkte 

aansprakelijkheid) incorporated under the laws of the Netherlands having its corporate seat 

(statutaire zetel) in Breda, The Netherlands) 

promises to pay to [     ] or registered assigns, the principal sum of [     ] Euro on [     ]4. 
 Interest Payment Date: [    ] 

Record Date: The Clearing System Business Day immediately preceding the applicable Interest Payment Date. 

Each holder of this Security (as defined below), by accepting the same, agrees to and shall be bound by the provisions hereof and of the
Indenture described herein, and authorizes and directs the Trustee described herein on such holder’s behalf to be bound by such provisions. Each holder of this Security hereby waives all notice of the acceptance of the provisions contained
herein and in the Indenture and waives reliance by such holder upon said provisions. 
 This Security shall not be entitled to any benefit
under the Indenture, or be valid or become obligatory for any purpose, until the Certificate of Authentication hereon shall have been signed by or on behalf of the Trustee and until it has been effectuated for and on behalf of the Common Safekeeper.
The provisions of this Security are continued on the reverse side hereof, and such continued provisions shall for all purposes have the same effect as though fully set forth at this place. 

This is to certify that the person whose name is entered in the register is the holder of the aggregate nominal amount of
[        ]. 
   

 

	1 	 2030 Notes: 0.800%; 2033 Notes: 1.125%; 2041 Notes: 1.625%; and 2051 Notes: 2.000% 

	2 	 2030 Notes: 2030; 2033 Notes: 2033; 2041 Notes: 2041; and 2051 Notes: 2051 

	3 	 2030 Notes: XS2366407018; 2033 Notes: XS2366415110; 2041 Notes: XS2366415201; and 2051 Notes: XS2366415540

	4 	 2030 Notes: October 18, 2030; 2033 Notes: October 18, 2033; 2041 Notes: October 18, 2041; and
2051 Notes: October 18, 2051 

  
 A-1 

 IN WITNESS WHEREOF, the Company has caused this instrument to be signed in accordance with Section 2.04
of the Base Indenture. 
 Date: [                ] 

 

			
	THERMO FISHER SCIENTIFIC (FINANCE I) B.V.
		
	By:	 	  

		 	Name:
		 	Title:

  
 A-2 

 CERTIFICATE OF AUTHENTICATION 

This is one of the [     ]5 issued by Thermo Fisher Scientific (Finance I) B.V. of
the series designated therein, referred to in the within-mentioned Indenture. 
 Date:
[                ] 
  

	
	 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.

as Trustee

	
	By:
                                         
                                       
	 Authorized Signatory

  

	5 	 2030 Notes: 0.800% Senior Notes due 2030; 2033 Notes: 1.125% Senior Notes due 2033; 2041 Notes: 1.625% Senior
Notes due 2041; and 2051 Notes: 2.000% Senior Notes due 2051 

  
 A-3 

 EFFECTUATED for and on behalf of EUROCLEAR BANK S.A./N.V., as Common Safekeeper, without recourse, warranty
or liability. 
  

			
	EUROCLEAR BANK S.A./N.V., as Common Safekeeper
		
	By:	 	  

		 	Authorized Signatory:
		 	Dated:

  
 A-4 

 Thermo Fisher Scientific (Finance I) B.V. 

[     ]6 

This security is one of a duly authorized series of debt securities of Thermo Fisher Scientific (Finance I) B.V., a private limited liability company
(besloten vennootschap met beperkte aansprakelijkheid) incorporated under the laws of the Netherlands, with its corporate seat (statutaire zetel) at Breda, the Netherlands, and its registered office at Takkebijsters 1, 4817 BL Breda,
the Netherlands, registered with the Dutch Trade Register of the Chamber of Commerce under number 66428319 (the “Company”), issued or to be issued in one or more series under and pursuant to an Indenture for the Company’s
unsecured debt securities, dated as of August 9, 2016 (the “Base Indenture”), duly executed and delivered by and among the Company, Thermo Fisher Scientific Inc., a Delaware corporation (the “Guarantor”) and
The Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee”), as supplemented by the Third Supplemental Indenture, dated as of October 18, 2021 (the “Supplemental Indenture”), among the Company,
the Guarantor and the Trustee. The Notes are subject to a Paying Agency Agreement, dated as of October 18, 2021 (the “Paying Agency Agreement”), between the Company and The Bank of New York Mellon, London Branch, as paying
agent (the “Paying Agent”). The Base Indenture as supplemented and amended by the Supplemental Indenture is referred to herein as the “Indenture.” By the terms of the Base Indenture, the debt securities issuable
thereunder are issuable in series that may vary as to amount, date of maturity, rate of interest and in other respects as provided in the Base Indenture. This security is one of the series designated on the face hereof (individually, a
“Security,” and collectively, the “Securities”), and reference is hereby made to the Indenture for a description of the rights, limitations of rights, obligations, duties and immunities of the Trustee, the Company,
the Guarantor and the holders of the Securities (the “Securityholders”). Capitalized terms used herein and not otherwise defined shall have the meanings given them in the Base Indenture or the Supplemental Indenture, as applicable.

 1. Interest. The Company promises to pay interest on the principal amount of this Security at an annual rate of [ ]%7. The Company will pay interest annually in arrears on [ ] of each year (each such day, an “Interest Payment Date”) until the principal is paid or made available for payment. If any
Interest Payment Date, redemption date or maturity date of this Security is not a Business Day, then payment of interest or principal (and premium, if any) shall be made on the next succeeding Business Day with the same force and effect as if made
on the date such payment was due, and no interest shall accrue for the period after such date to the date of such payment on the next succeeding Business Day. Interest on the Securities will accrue from the most recent date to which interest has
been paid or duly made available for payment or, if no interest has been paid, from the date of issuance; provided that, if there is no existing Default in the payment of interest, and if this Security is authenticated between a regular
record 
  
  

	6 	 2030 Notes: 0.800% Senior Notes due 2030; 2033 Notes: 1.125% Senior Notes due 2033; 2041 Notes: 1.625% Senior
Notes due 2041; and 2051 Notes: 2.000% Senior Notes due 2051 

	7 	 2030 Notes: 0.800%; 2033 Notes: 1.125%; 2041 Notes: 1.625%; and 2051 Notes: 2.000%

  
 A-5 

 
date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; and provided, further, that the
first Interest Payment Date shall be [ ]. Interest on the Securities shall be computed on the basis of an ACTUAL/ACTUAL (ICMA) (as defined in the rulebook of ICMA) day count convention. In order to provide for all payments due on the Securities as
the same shall become due, the Company shall cause to be paid to the Paying Agent, no later than 10:00 a.m. London time on the Business Day prior the payment date of each Security, at such bank as the Paying Agent shall previously have notified to
the Company, in immediately available funds sufficient to meet all payments due on such Securities. 
 2. Method of Payment. The
Company will pay interest on the Securities (except defaulted interest), if any, to the persons in whose name such Securities are registered at the close of business on the regular record date referred to on the facing page of this Security for such
interest installment. In the event that the Securities or a portion thereof are called for redemption pursuant to Section 1.4A or 1.4B or there is a Change of Control Offer, and the Optional Redemption Date or Change of Control Payment Date, as
applicable, is subsequent to a regular record date with respect to any Interest Payment Date and prior to such Interest Payment Date, interest on such Securities shall instead be paid upon presentation and surrender of such Securities as provided in
the Indenture. Subject to Section 1.2(13) of the Supplemental Indenture, all payments of principal of, and interest (including Additional Amounts, if any) and premium (if any) on, the Securities shall be payable in euro. 

3. Paying Agent and Registrar. Initially, The Bank of New York Mellon, London Branch, shall act as the Paying Agent in accordance with
the terms of the Paying Agency Agreement and the Trustee shall act as Security Registrar. Upon prior notice to the Trustee, the Company may change or appoint any Paying Agent or Security Registrar without notice to any Securityholder. The Company,
the Guarantor or any of the Guarantor’s Subsidiaries may act in any such capacity. 
 4. Indenture. The terms of the Securities
include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939, as amended (“TIA”), as in effect on the date the Indenture is qualified. The Securities are subject to all
such terms, and Securityholders are referred to the Indenture and TIA for a statement of such terms. In the event of a conflict between the terms of the Securities and the terms of the Indenture, the terms of the Indenture shall prevail. The
Securities are unsecured general obligations of the Company and constitute the series designated on the face hereof as the “[ ]8,” initially limited to €[ ]9 in aggregate principal amount. The Company shall furnish to any Securityholder upon written request and without charge a copy of the Base Indenture and the Supplemental Indenture. Requests may be
made to: Thermo Fisher Scientific Inc., 168 Third Avenue, Waltham, Massachusetts 02451, Attention: Michael A. Boxer. 
  

 

	8 	 2030 Notes: 0.800% Senior Notes due 2030; 2033 Notes: 1.125% Senior Notes due 2033; 2041 Notes: 1.625% Senior
Notes due 2041; and 2051 Notes: 2.000% Senior Notes due 2051 

	9 	 2030 Notes: 1,750,000,000; 2033 Notes: 1,500,000,000; 2041 Notes: 1,250,000,000; and 2051 Notes: 750,000,000

  
 A-6 

 5. Redemption. The Securities may be redeemed at the option of the Company prior to
the maturity date, as provided in Section 1.4A and 1.4B of the Supplemental Indenture. The Company shall not be required to make sinking fund payments with respect to the Securities. 

6. Redemption Upon Changes in Withholding Taxes; Payment of Additional Amounts. The provisions of Sections 15.01 and 15.02 of the
Base Indenture and Sections 1.3 and 1.4B of the Supplemental Indenture shall apply to the Securities. 
 Whenever the payment of the
principal of or interest or any other amounts on, or in respect of, the Securities is mentioned, in any context, such mention shall be deemed to include mention of the payment of Additional Amounts to the extent that, in such context, Additional
Amounts are, were or would be payable in respect thereof pursuant to the terms of the Indenture, and express mention of the payment of Additional Amounts in any provision of the Securities shall not be construed as excluding the payment of
Additional Amounts in those provisions where such express mention is not made. 
 7. Change of Control Triggering Event. Upon the
occurrence of a Change of Control Triggering Event, unless the Company has redeemed this Security or the Company has defeased this Security or satisfied and discharged this Security, the holder of this Security shall have the right to require that
the Company purchase all or a portion (such principal amount to be equal to €100,000 or any integral multiple of €1,000 in excess thereof) of this Security at a purchase price equal to 101% of the aggregate principal amount repurchased
plus accrued and unpaid interest, if any, on the amount to be repurchased up to but excluding the date of purchase. Within 30 days following any Change of Control Triggering Event, the Company shall send, by first class mail, a notice to each
Holder, in accordance with Section 1.5 of the Supplemental Indenture, with a copy to the Trustee, which notice shall govern the terms of the Change of Control Offer. 

8. Denominations, Transfer, Exchange. The Securities are in registered form without coupons in the denominations of €100,000 or any
integral multiple of €1,000 in excess thereof. The transfer of Securities may be registered and Securities may be exchanged as provided in the Indenture. The Securities may be presented for exchange or for registration of transfer (duly
endorsed or with the form of transfer endorsed thereon duly executed if so required by the Company or the Security Registrar) at the office of the Paying Agent or at the office of any transfer agent designated by the Company for such purpose (or
otherwise in accordance with the applicable procedures of Euroclear and Clearstream). No service charge shall be made for any registration of transfer or exchange, but a Securityholder may be required to pay any applicable taxes or other
governmental charges. 
 9. Persons Deemed Owners. The registered Securityholder may be treated as its owner for all purposes. 

10. Repayment to the Company. Any funds or Governmental Obligations deposited with any paying agent or the Trustee, or then held by the
Company, in trust for payment of principal of, premium, if any, or interest on the Securities that are not applied but remain unclaimed by the holders of such Securities for at least one year after the date upon which the principal of, premium, if
any, or interest on such Securities shall have respectively become due and payable, shall be repaid to the Company, as applicable, or (if then held by the Company) shall be discharged from such trust. After return to the Company, Holders entitled to
the money or securities must look to the Company, as applicable, for payment as unsecured general creditors. 

  
 A-7 

 11. Amendments, Supplements and Waivers. The Indenture permits, with certain
exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the Guarantor and the rights of the Holders of the Securities to be affected under the Indenture at any time by the Company,
the Guarantor and the Trustee with the consent of the Holders of a majority in principal amount of the Securities at the time Outstanding to be affected. The Indenture also contains provisions permitting the Holders of a majority in principal amount
of the Securities at the time Outstanding, on behalf of the Holders of all Securities, to waive compliance by the Company or the Guarantor with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences.
Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in
lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 
 12. Defaults and Remedies. If an Event
of Default with respect to the Securities occurs and is continuing, the Trustee or the holders of at least 25% in aggregate principal amount of the Securities then Outstanding, by notice in writing to the Company (and to the Trustee if notice is
given by such holders), may declare the entire principal of, premium, if any, and accrued interest, if any, of such Securities due and payable immediately. Subject to the terms of the Indenture, if an Event of Default under the Indenture shall occur
and be continuing, the Trustee shall be under no obligation to exercise any of its rights or powers under the Indenture at the request or direction of any of the holders, unless such holders have offered the Trustee indemnity satisfactory to it.
Upon satisfaction of certain conditions set forth in the Indenture, the holders of a majority in principal amount of the Outstanding Securities shall have the right to direct the time, method and place of conducting any proceeding for any remedy
available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the Securities. 
 13. Trustee,
Paying Agent and Security Registrar May Hold Securities. The Trustee, subject to certain limitations imposed by the TIA, or any paying agent or Security Registrar, in its individual or any other capacity, may become the owner or pledgee of
Securities with the same rights it would have if it were not Trustee, paying agent or Security Registrar. 
 14. No Recourse Against
Others. No recourse under or upon any obligation, covenant or agreement of the Indenture, or of any Security, or for any claim based thereon or otherwise in respect hereof or thereof, shall be had against any incorporator, stockholder, officer
or director, past, present or future as such, of the Company or the Guarantor or of any predecessor or successor corporation, either directly or through the Company or the Guarantor or any such predecessor or successor corporation, whether by virtue
of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that the Indenture and the obligations issued hereunder and thereunder are solely corporate obligations, and
that no such personal liability whatever shall attach to, or is or shall be incurred by, the incorporators, stockholders, officers or directors as such, of the Company or the 

  
 A-8 

 
Guarantor or of any predecessor or successor corporation, or any of them, because of the creation of the indebtedness authorized by the Indenture, or under or by reason of the obligations,
covenants or agreements contained in the Indenture or in the Securities or implied therefrom; and that any and all such personal liability of every name and nature, either at common law or in equity or by constitution or statute, of, and any and all
such rights and claims against, every such incorporator, stockholder, officer or director as such, because of the creation of the indebtedness authorized by the Indenture, or under or by reason of the obligations, covenants or agreements contained
in the Indenture or in the Securities or implied therefrom, are hereby expressly waived and released as a condition of, and as a consideration for, the acceptance of the Securities. 

15. Discharge of Indenture. The Indenture contains certain provisions pertaining to discharge and defeasance, which provisions shall for
all purposes have the same effect as if set forth herein. 
 16. Authentication. This Security shall not be valid until the Trustee
signs the certificate of authentication attached to the other side of this Security. 
 17. Guarantee. This Security is fully and
unconditionally guaranteed by the Guarantor, as provided in Article XIV of the Base Indenture. 
 18. Abbreviations. Customary
abbreviations may be used in the name of a Securityholder or an assignee, such as: TEN COM(= tenants in common), TEN ENT (=tenants by the entireties), JT TEN(= joint tenants with right of survivorship and not as tenants in common), CUST
(=Custodian), and U/G/M/A(= Uniform Gifts to Minors Act). 
 19. Governing Law. The Base Indenture, the Supplemental Indenture and
this Security shall be deemed to be a contract made under the internal laws of the State of New York, and for all purposes shall be construed in accordance with the laws of said State. 

  
 A-9 

 ASSIGNMENT FORM 

To assign this Security, fill in the form below: (I) or (we) assign and transfer this Security to 

 
  

(Insert assignee’s soc. sec. or tax I.D. no.) 
  

 
  

 
  

 
  

 
  

	
	(Print or type assignee’s name, address and zip code)

and irrevocably appoint                    
                                         
                                         
                                         
                                         
              
 agent to transfer this Security on the books of the Company. The agent
may substitute another to act for him. 

Date:                         
                            

 

	
	
Your Signature                       
                                         
        
 (Sign exactly as your name appears on the face of this Security)

 Signature
Guarantee:                                       
                      

  
 A-10 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Security purchased by the Company pursuant to Section 1.5 of the Supplemental Indenture, check the box:

 ☐ 1.5 Change of Control Triggering Event 

If you want to elect to have only part of this Security purchased by the Company pursuant to Section 1.5 of the Supplemental Indenture,
state the amount:
€                                        
                         
  

					
	Date:                                     
                                   	  	        	  	 Your
Signature                                       
                                 

(Sign exactly as your name appears on the face of this Security)

 Tax I.D. Number: __________________ 

Signature Guarantee:
                                         
                                         
                                         
      
 (Signature must be guaranteed by a 

participant in a recognized signature 

guarantee medallion program) 

  
 A-11 

 NOTATION OF GUARANTEE 

For value received, Thermo Fisher Scientific Inc. hereby absolutely, unconditionally and irrevocably guarantees to the holder of this Security
the payment of principal of, premium, if any, and interest on, the Security upon which this Guarantee is set forth in the amounts and at the time when due and payable whether by declaration thereof, or otherwise, and interest on the overdue
principal and interest, if any, of such Security, if lawful, to the holder of such Security and the Trustee on behalf of the Holders, all in accordance with and subject to the terms and limitations of such Security and Article XIV of the
Indenture. This Guarantee will not become effective until the Trustee or Authenticating Agent duly executes the certificate of authentication on this Security and until this Security has been effectuated for and on behalf of the Common Safekeeper.
This Guarantee shall be governed by and construed in accordance with the laws of the State of New York, without regard to conflict of law principles thereof. 

Dated: [     ] 
  

			
	THERMO FISHER SCIENTIFIC INC.
		
	By:	 	
                     

	Name:
	Title:

  
 A-12Exhibit 10.1

 

 

SECURITIES PURCHASE
AGREEMENT

 

THIS
SECURITIES PURCHASE AGREEMENT (this “Agreement”), dated as of October 12, 2021, is between HELBIZ, INC.,
a company incorporated under the laws of the
State of Delaware, with its principal operation office located
at 32 Old Slip, New York, NY 10005 (the “Company”), and each of the investors listed on the Schedule of Buyers
attached hereto (individually, a “Buyer” and collectively the “Buyers”).

WITNESSETH

 

WHEREAS,
the Company and each Buyer desire to enter into this transaction for the Company to sell and the Buyers to purchase the Convertible Debentures
(as defined below) pursuant to an exemption from registration pursuant to Section 4(2) and/or Rule 506 of Regulation D (“Regulation
D”) as promulgated by the U.S. Securities and Exchange Commission (the “SEC”) under the Securities Act of
1933, as amended (the “Securities Act”);

WHEREAS,
the parties desire that, upon the terms and subject to the conditions contained herein, the Company shall issue and sell to the Buyer(s),
as provided herein, and the Buyer(s) shall purchase convertible debentures in the form attached hereto as “Exhibit A”
(the “Convertible Debentures”) in the principal amount of up to $30,000,000 (the “Subscription Amount”),
which shall be convertible into shares of the Company’s Class A common shares, par value $0.00001 (the “Common Shares”)
(as converted, the “Conversion Shares”), of which $15,000,000 shall be purchased upon the signing this Agreement (the
“First Closing”), $10,000,000 shall be purchased upon the filing of a Registration Statement with the U.S. Securities
and Exchange Commission registering the resale of the Conversion Shares by the Buyers (the “Second Closing”), and
$5,000,000 shall be purchased on or about the date the Registration Statement has first been declared effective by the SEC (the “Third
Closing”) (individually referred to as a “Closing” collectively referred to as the “Closings”),
at a purchase price equal to 100% of the Subscription Amount (the “Purchase Price”) in the respective amounts set
forth opposite each Buyer(s) name on Schedule I;

WHEREAS,
at the First Closing the Company shall issue to the Buyer(s) warrants in the form attached hereto as “Exhibit B” (collectively,
the “Warrants”) which shall exercisable into an aggregate of 1,000,000 Common Shares (the “Warrant Shares”)
in the respective amounts set forth opposite each Buyer(s) name on Schedule I;

WHEREAS,
contemporaneously with the execution and delivery of this Agreement, the parties hereto are executing and delivering a Registration Rights
Agreement (the “Registration Rights Agreement”) pursuant to which the Company has agreed to provide certain registration
rights under the Securities Act and the rules and regulations promulgated there under, and applicable state securities laws;

WHEREAS,
contemporaneously with the execution and delivery of this Agreement, the Company is delivering Irrevocable Transfer Agent Instructions
(the “Irrevocable Transfer Agent Instructions”) to its transfer agent; and

WHEREAS,
the Convertible Debentures, the
Conversion Shares, the Warrants, the Warrants Shares, and the Commitment Shares (as defined below) are collectively
referred to herein as the “Securities.”

AGREEMENT

 

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

		1.	PURCHASE
                                            AND SALE OF CONVERTIBLE DEBENTURES.

 

(a)       
Purchase of Convertible Debentures. Subject to the satisfaction (or waiver)
of the conditions set forth in Sections 6 and
7 below, the Company shall issue and sell to each Buyer, and each Buyer
severally, but not jointly, agrees to purchase
from the Company at each Closing Convertible Debentures with principal amount corresponding to the
Subscription Amount set forth opposite each Buyer’s name on the Schedule of Buyers attached as Schedule I hereto and at the First
Closing Warrants in the amount set forth opposite each Buyer’s name on the Schedule of Buyers attached as Schedule I hereto.

 

    	1  

    	 

    

 

(b)      
Closing Dates. Each Closing shall occur
at the offices Yorkville Advisors Global, LP, 1012 Springfield Avenue, Mountainside,
NJ 07092. The date and time of each Closing shall be as follows: (i) the First Closing shall be 10:00
a.m., New York time, on
the first Business Day on which the conditions
to the Closing set forth in Sections 6
and 7 below are satisfied or waived (or such other
date as is mutually agreed to by
the Company and each Buyer) (the “First Closing Date”), (ii) the
Second Closing shall be 10:00 a.m.,
New York time, on the first Business Day
after the date on which the Registration Statement is
filed by the Company with the SEC, provided the conditions to the Closing
set forth in Sections 6 and 7 below are satisfied or
waived (or such other date as is mutually
agreed to by the Company and each Buyer)
(the “Second Closing Date”), and (iii) the Third Closing shall be 10:00 a.m.,
New York time, on the first Business Day after the Registration Statement is first declared effective by the SEC, provided the conditions
to the Closing set forth in Sections 6
and 7 below are satisfied or waived (or such other
date as is mutually agreed to by
the Company and each Buyer) (the “Third Closing Date” and collectively
referred to as the “Closing Dates”). As used herein “Business
Day” means any day other
than a Saturday, Sunday or other
day on which commercial banks
in New York, New York are authorized
or required by law to remain closed. 

 

(c)       
Form of Payment; Deliveries. Subject to the satisfaction of the terms and conditions of this Agreement, on each Closing
Date, (i) the Buyers shall deliver to the Company the Purchase Price for the Convertible Debentures to be issued and sold to such Buyer
at such Closing, minus any fees or expenses to be paid directly from the proceeds of such Closing as set forth herein, and (ii) the
Company shall deliver to each Buyer, Convertible Debentures which such Buyer is purchasing at such Closing with
a principal amount corresponding with the Subscription Amount set forth opposite each Buyer’s name on Schedule of Buyers attached
as Schedule I hereto, duly executed on behalf of the Company, and in respect of the First Closing, Warrants in
the amount set forth opposite each Buyer’s name on the Schedule of Buyers attached as Schedule I hereto, duly executed on behalf
of the Company.

 

(d)      
Maximum Shares. Notwithstanding anything in this Agreement to the contrary, the Company shall not issue any Common Shares
pursuant to the transactions contemplated hereby or any other Transaction Documents if the issuance of such shares of Common Stock would
exceed the aggregate number of shares of Common Stock that the Company may issue in this transaction in compliance with the Company’s
obligations under the rules or regulations of NASDAQ Capital Market (the number of shares which may be issued without violating such
rules and regulations is 6,054,081 and shall be referred to as the “Exchange Cap”), except that such limitation shall
not apply in the event that the Company (A) obtains the approval of its stockholders as required by the applicable rules of the NASDAQ
Capital Market for issuances of shares of Common Stock in excess of such amount or (B) obtains a written opinion from outside counsel
to the Company that such approval is not required, which opinion shall be reasonably satisfactory to the Buyers. The Exchange Cap shall
be appropriately adjusted for any stock dividend, stock split, reverse stock split or similar transaction. 

 

		2.	BUYER’S
                                            REPRESENTATIONS AND WARRANTIES.

 

Each
Buyer, severally and not jointly, represents and warrants to the Company with respect to only itself that, as of the date hereof and
as of the Closing Date:

(a)       
Investment Purpose. The Buyer is acquiring the Securities for its own account for investment only and not with a view towards,
or for resale in connection with, the public sale or distribution thereof, except pursuant to sales registered under or exempt from the
registration requirements of the Securities Act; provided, however, that by making the representations herein, the Buyer does not agree,
or make any representation or warranty, to hold any of the Securities for any minimum or other specific term and reserves the right to
dispose of the Securities at any time in accordance with or pursuant to an effective registration statement covering such Securities
or an available exemption under the Securities Act. Such Buyer does not presently have any agreement or understanding, directly or indirectly,
with any Person to distribute any of the Securities. 

 

(b)      
Accredited Investor Status. The Buyer is an “Accredited Investor” as that term is defined in Rule 501(a)(3)
of Regulation D.

 

    	2  

    	 

    

 

(c)      
Reliance on Exemptions. The Buyer understands that the Securities are being offered and sold to it in reliance on specific
exemptions from the registration requirements of United States federal and state securities laws and that the Company is relying in part
upon the truth and accuracy of, and such Buyer’s compliance with, the representations, warranties, agreements, acknowledgments
and understandings of such Buyer set forth herein in order to determine the availability of such exemptions and the eligibility of such
Buyer to acquire the Securities.

 

(d)      
Information. The Buyer and its advisors (and his or, its counsel), if any, have been furnished with all materials relating
to the business, finances and operations of the Company and information he deemed material to making an informed investment decision
regarding his purchase of the Securities, which have been requested by such Buyer. The Buyer and its advisors, if any, have been afforded
the opportunity to ask questions of the Company and its management. Neither such inquiries nor any other due diligence investigations
conducted by such Buyer or its advisors, if any, or its representatives shall modify, amend or affect such Buyer’s right to rely
on the Company’s representations and warranties contained in Section 3 below. The Buyer understands that its investment in the
Securities involves a high degree of risk. The Buyer has sought such accounting, legal and tax advice, as it has considered necessary
to make an informed investment decision with respect to its acquisition of the Securities.

 

(e)      
Transfer or Resale. The Buyer understands that: (i) the Securities have not been registered under the Securities Act or
any state securities laws, and may not be offered for sale, sold, assigned or transferred unless (A) subsequently registered thereunder,
(B) such Buyer shall have delivered to the Company an opinion of counsel, in a generally acceptable form, to the effect that such Securities
to be sold, assigned or transferred may be sold, assigned or transferred pursuant to an exemption from such registration requirements,
or (C) such Buyer provides the Company with reasonable assurances (in the form of seller and broker representation letters) that such
Securities can be sold, assigned or transferred pursuant to Rule 144 promulgated under the Securities Act, as amended (or a successor
rule thereto) (collectively, “Rule 144”), in each case following the applicable holding period set forth therein;
and (ii) any sale of the Securities made in reliance on Rule 144 may be made only in accordance with the terms of Rule 144 and further,
if Rule 144 is not applicable, any resale of the Securities under circumstances in which the seller (or the person through whom
the sale is made) may be deemed to be an underwriter (as that term is defined in the Securities Act) may require compliance with some
other exemption under the Securities Act or the rules and regulations of the SEC thereunder. 

 

(f)       
Legends. The Buyer agrees to the imprinting, so long as its required by this Section 2(f), of a restrictive legend on the
Securities in substantially the following form:

 

THE SECURITIES
REPRESENTED BY THIS CERTIFICATE [AND THOSE SECURITIES INTO WHICH THEY ARE CONVERTIBLE] HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES [AND THOSE SECURITIES INTO WHICH THEY ARE CONVERTIBLE] HAVE
BEEN ACQUIRED SOLELY FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TOWARD RESALE AND MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR
ASSIGNED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE
STATE SECURITIES LAWS, OR AN OPINION OF COUNSEL, IN A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR
APPLICABLE STATE SECURITIES LAWS

 

    	3  

    	 

    

Certificates
evidencing the Conversion Shares, the Warrant Shares, or the Commitment Shares shall not contain any legend (including the legend set
forth above), (i) while a registration statement covering the resale of such security is effective under the Securities Act, (ii) following
any sale of such Conversion Shares, Warrant Shares, or Commitment Shares pursuant to Rule 144, (iii) if such Conversion Shares, Warrant
Shares, or Commitment Shares are eligible for sale under Rule 144, 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 SEC). The Buyer agrees that the
removal of restrictive legend from certificates representing Securities as set forth in this Section 3(f) is predicated upon the Company’s
reliance that the Buyer 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.

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

 

(h)      
Authorization, Enforcement. This Agreement has been duly and validly
authorized, executed and delivered on behalf of
such Buyer and shall constitute the
legal, valid and binding obligations
of such Buyer enforceable against such Buyer
in accordance with its terms, except
as such enforceability may be limited by general
principles of equity or
to applicable bankruptcy, insolvency, reorganization, moratorium, liquidation
and other similar laws relating to,
or affecting generally, the enforcement
of applicable creditors' rights and remedies.

 

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

 

(j)       
Certain Trading Activities. The Buyer has not
directly or indirectly, nor has any Person
acting on behalf of or pursuant to any understanding with
the Buyer, engaged in any transactions in the
securities of the Company (including,
without limitation, any Short Sales (as
defined below) involving the
Company's securities) during the period
commencing as of the time that the
Buyer first contacted
the Company or the
Company's agents regarding the specific
investment in the Company contemplated by this
Agreement and ending immediately prior to the
execution of this Agreement by
such Buyer. The Buyer hereby agrees that it shall not directly or indirectly, engage in any Short Sales involving the Company’s
securities during the period commencing on the date hereof and ending when no Convertible Debentures remain outstanding. "Short
Sales" means all "short sales" as defined in Rule 200
promulgated under Regulation SHO under the 1934
Act (as defined below). The Buyer is aware that
Short Sales and other hedging activities may
be subject to applicable federal and state securities
laws, rules and regulations and the Buyer
acknowledges that the
responsibility of compliance with any such
federal or state securities laws, rules and regulations
is solely the responsibility of the
Buyer. 

 

(k)       Trading
Limitation and Information. For so long as the Buyer holds any Convertible Debentures or Conversion Shares, the Buyer shall not sell
such number of Common Shares on any Trading Day in excess of 10% of the daily trading volume of the Common Shares on such Trading Day,
provided however, that this limitation shall not apply (i) at any time after the occurrence and during the continuation of any event
of default, and (ii) with respect to any sales of Common Shares at prices greater than or equal to the $20 per share. This limitation
may be waived with the consent of the Company. Upon the Company’s request, the Buyer agrees to provide the Company with trading
reports setting forth the number and average sales prices of Common Shares sold the Buyer on each Trading Day the prior trading week
along with the total aggregate number of Common Shares traded on each Trading Day. “Trading Day” means a day on which
the Common Shares are quoted or traded on an Eligible Market on which the shares of Common Stock are then quoted or listed; provided,
that in the event that the Common Shares are not listed or quoted, then Trading Day shall mean a Business Day.

    	4  

    	 

    

 

		3.	REPRESENTATIONS
                                            AND WARRANTIES OF THE COMPANY.

 

Except
as set forth under the corresponding section of the Disclosure Schedules which Disclosure Schedules shall be deemed a part hereof and
to qualify any representation or warranty otherwise made herein to the extent of such disclosure, the Company hereby makes the representations
and warranties set forth below to the Buyer:

(a)        
Organization and Qualification.
The Company and each of its Subsidiaries are entities
duly formed, validly existing
and in good standing under
the laws of the jurisdiction
in which they are formed, and have
the requisite power and authority
to own their properties and to carry
on their business as now being conducted and
as presently proposed to be conducted. The Company
and each of its Subsidiaries is duly qualified
as a foreign entity to do business and is in good
standing in every jurisdiction in which
its ownership of property or
the nature of the
business conducted by it makes such qualification
necessary, except to the extent
that the failure to be so qualified or
be in good standing would
not reasonably be expected to have a Material
Adverse Effect (as defined below). As used in
this Agreement, “Material Adverse Effect”
means any material adverse effect on (i)
the business, properties, assets, liabilities, operations
(including results thereof), condition (financial or
otherwise) or prospects of the
Company and its Subsidiaries, taken as a
whole, (ii) the transactions contemplated
hereby or in any of the
other Transaction Documents or any other agreements
or instruments to be entered into
by the Company in connection
herewith or therewith or (iii) the
authority or ability of
the Company to perform any of its obligations
under any of the Transaction Documents
(as defined below). “Subsidiaries” means any Person in which the Company,
directly or indirectly, owns a majority of
the outstanding capital stock having
voting power or holds a majority of
the equity or similar interest of
such Person, and each of the foregoing,
is individually referred to herein as a “Subsidiary”.

 

(b)       
Authorization; Enforcement;
Validity. The Company has the requisite power
and authority to enter into
and perform its obligations under this Agreement
and the other Transaction Documents and to issue
the Securities in accordance with the terms hereof
and thereof. The execution and delivery of this
Agreement and the other Transaction Documents
by the Company and the consummation by
the Company of the
transactions contemplated hereby and thereby (including,
without limitation, the
issuance of the Convertible
Debentures, the reservation for issuance and issuance of
the Conversion Shares issuable upon conversion
of the Convertible
Debentures), have been duly authorized
by the Company's board of
directors and no further filing, consent
or authorization is required by the
Company, its board of directors or
its stockholders or other governmental body. This Agreement has been,
and the other Transaction Documents to
which the Company is a party will be
prior to the Closing, duly
executed and delivered by the
Company, and each constitutes the legal,
valid and binding obligations of
the Company, enforceable against the Company
in accordance with its respective terms, except
as such enforceability may be limited by general
principles of equity or
applicable bankruptcy, insolvency, reorganization, moratorium, liquidation
or similar laws relating to,
or affecting generally, the enforcement
of applicable creditors' rights and remedies and
except as rights to indemnification and to contribution
may be limited by federal or
state securities law. “Transaction Documents” means, collectively, this
Agreement, the Convertible Debentures, the Warrants,
the Registration Rights Agreement, the Irrevocable Transfer Agent Instructions, and each of
the other agreements and instruments entered into
by the Company or
delivered by the Company in connection
with the transactions contemplated hereby and thereby, as may be
amended from time to time. 

 

(c)        
Issuance of Securities. The issuance of
the Securities are duly
authorized and, upon issuance and payment
in accordance with the terms of the
Transaction Documents the Securities
shall be validly issued, fully paid
and nonassessable and free from all preemptive
or similar rights, mortgages, defects, claims, liens, pledges,
charges, taxes, rights of first refusal,
encumbrances, security interests and other encumbrances (collectively
“Liens”) with respect
to the issuance thereof. As of the
each Closing Date, the Company shall have
reserved from its duly
authorized capital stock not less than
300% of the
maximum number of Common Shares issuable upon
conversion of all Convertible Debentures
(assuming for purposes hereof that (x) such Convertible
Debentures are convertible at the Conversion
Price (as defined therein) as of the date of determination, (y) any such conversion shall not take
into account any limitations
on the conversion of the
Convertible Debentures set forth therein, including the Floor Price).
Upon issuance or conversion in accordance with
the Convertible Debentures or Warrants, the Conversion Shares, or Warrant Shares,
when issued, will be
validly issued, fully paid and nonassessable
and free from all preemptive or
similar rights or Liens with respect to
the issue thereof, with the holders being
entitled to all rights accorded to a holder of
Common Shares. 

 

    	5  

    	 

    

(d)      
 No Conflicts.
The execution, delivery and performance of the
Transaction Documents by the Company and
the consummation by the
Company of the transactions contemplated
hereby and thereby (including, without limitation,
the issuance of the
Convertible Debentures, The Warrants, the
Conversion Shares) will not (i) result in a violation
of the Articles of
Incorporation (as defined below), Bylaws (as
defined below), certificate of formation, memorandum of
association, articles of association, bylaws or
other organizational documents of the
Company or any of its Subsidiaries, or
any capital stock or other
securities of the Company or
any of its Subsidiaries, (ii) conflict with, or
constitute a default under, or give to
others any rights of termination, amendment, acceleration or
cancellation of, any agreement, indenture or instrument to which
the Company or any of its Subsidiaries is
a party, or (iii) result in a violation of
any law, rule, regulation, order, judgment or decree
(including, without limitation,
U.S. federal and state securities laws and regulations,
the securities laws of the
jurisdictions of the Company's incorporation
or in which it or
its subsidiaries operate and the rules and regulations
of the NASDAQ Capital Market (the “Principal Market”)) applicable
to the Company or any of
its Subsidiaries or by which any property
or asset of the
Company or any of its Subsidiaries is bound
or affected, except in the
case of (ii) and (iii) for any conflict, default, right or
violation that would
not reasonably be expected to result in a Material Adverse Effect.

 

(e)        
Consents. The Company is not required
to obtain any material consent from, authorization
or order of, or make any filing or registration
with (other than any filings
as may be required by any federal or state
securities agencies and any filings as may be
required by the Principal Market), any
Governmental Entity (as defined below) or
any regulatory or selfregulatory agency or any
other Person in order for it to execute, deliver or perform
any of its obligations under or
contemplated by the Transaction Documents, in each case, in accordance with
the terms hereof or thereof. All consents,
authorizations, orders, filings and registrations
which the Company or any Subsidiary is required
to obtain pursuant to the preceding sentence
have been or will
be obtained or
effected on or prior to the Closing
Date, and neither the Company nor
any of its Subsidiaries are aware of any
facts or circumstances which might prevent the
Company or any of its Subsidiaries from
obtaining or effecting any of
the registration, application or
filings contemplated by the Transaction Documents.
The Company is not in violation of
the requirements of the
Principal Market and has no knowledge of
any facts or circumstances which could reasonably
lead to delisting or suspension of the
Common Shares in the foreseeable future. The Company has notified the
Principal Market of the issuance of
all of the Securities hereunder, which
does not require obtaining
the approval of the stockholders
of the Company or any other
Person or Governmental Entity, and the
Principal Market has completed its review of the
related Listing of Additional Share form.
“Governmental Entity” means any nation, state, county, city, town,
village, district, or other political jurisdiction
of any nature, federal, state, local, municipal, foreign, or
other government, governmental or quasigovernmental
authority of any nature (including any governmental
agency, branch, department, official, or entity and
any court or other tribunal), multinational
organization or body; or
body exercising, or entitled to exercise,
any administrative, executive, judicial, legislative,
police, regulatory, or taxing authority
or power of any nature or
instrumentality of any of the
foregoing, including any entity or
enterprise owned or controlled by a government
or a public international
organization or any of the
foregoing. 

 

    	6  

    	 

    

(f)         
Acknowledgment Regarding
Buyer's Purchase of Securities. The Company acknowledges
and agrees that each Buyer is acting
solely in the capacity of an arm's
length purchaser with respect to the
Transaction Documents and the transactions
contemplated hereby and thereby and that no Buyer is
(i) an officer or director of the
Company or any of its Subsidiaries, (ii)
to its knowledge, an "affiliate" (as
defined in Rule 144 promulgated under
the 1933 Act (or a successor rule thereto) (collectively, “Rule 144”)) of
the Company or any of
its Subsidiaries or (iii) to its knowledge,
a “beneficial owner” of more than 10%
of the  Common Shares (as defined for purposes
of Rule 13d-3 of the
1934 Act). The Company further acknowledges that
no Buyer (nor any affiliate of any Buyer) is acting as a financial advisor
or fiduciary of the Company or
any of its Subsidiaries (or in any similar capacity)
with respect to the Transaction Documents
and the transactions contemplated hereby
and thereby, and any advice given by
a Buyer or any of its representatives or
agents in connection with the Transaction Documents
and the transactions contemplated hereby
and thereby is merely incidental to such Buyer's purchase of
the Securities. The Company further represents to each Buyer
that the Company's decision to enter
into the Transaction Documents to which
it is a party has been based solely on the independent
evaluation by the Company and its
representatives.

 

(g)       
No Integrated Offering.
None of the
Company, its Subsidiaries or any of
their affiliates, nor any Person acting on 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 require approval of stockholders of the
Company under any applicable stockholder
approval provisions, including, without limitation,
under the rules and regulations of any
exchange or automated quotation system on
which any of the
securities of the Company are listed or
designated for quotation. None of the
Company, its Subsidiaries, their affiliates
nor any Person acting on their behalf will
take any action or steps that
would cause the offering of
any of the Securities to be
integrated with other offerings of securities
of the Company. 

 

(h)        
Dilutive Effect.
The Company understands and acknowledges that
the number of Conversion Shares will
increase in certain circumstances. The Company further acknowledges its
obligation to issue the Conversion Shares
upon conversion of the
Convertible Debentures in accordance with this
Agreement and the Convertible Debentures is, absolute
and unconditional regardless of the
dilutive effect that such issuance may
have on the ownership interests of
other stockholders of the
Company. 

 

(i)         
Application of
Takeover Protections; Rights Agreement.
The Company and its board of directors have
taken all necessary action, if any, in order to render inapplicable
any control share acquisition, interested stockholder, business combination,
poison pill (including, without
limitation, any distribution under
a rights agreement), stockholder rights plan or
other similar antitakeover provision under
the Articles of Incorporation, Bylaws or
other organizational documents or the
laws of the jurisdiction
of its incorporation or otherwise which is
or could become applicable
to any Buyer as a result of the
transactions contemplated by this Agreement,
including, without limitation,
the Company's issuance of the
Securities and any Buyer's ownership of the
Securities. 

 

    	7  

    	 

    

(j)          SEC Documents;
Financial Statements. During the
two (2) years prior to the date hereof,
the Company has timely filed all reports, schedules, forms,
proxy statements, statements and other documents
required to be filed by it with
the SEC pursuant to the reporting requirements
of the Securities Exchange
Act of 1934, as amended (the “1934
Act”) (all of the foregoing filed prior
to the date hereof and all exhibits
and appendices included therein and financial
statements, notes and schedules thereto and documents
incorporated by reference therein being hereinafter
referred to as the “SEC
Documents”). The Company
has delivered or has made available to the
Buyers or their respective representatives true, correct and complete copies
of each of the SEC
Documents not available
on the EDGAR system. As
of their respective dates, the SEC Documents
complied in all material respects with the requirements of
the 1934 Act and the rules and regulations
of the SEC promulgated thereunder applicable
to the SEC Documents, and none
of the SEC
Documents, at the time they were filed
with the SEC, 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. As
of their respective dates, the financial statements of
the Company included in the
SEC Documents complied in all material
respects with applicable accounting requirements and the
published rules and regulations of the
SEC with respect thereto as in effect
as of the time of
filing. Such financial statements have been prepared in accordance with
generally accepted accounting principles (“GAAP”),
consistently applied, during
the periods involved (except (i) as may
be otherwise indicated in such financial statements
or the notes thereto, or
(ii) in the case of unaudited
interim statements, to the extent they may
exclude footnotes or may be
condensed or summary statements) and fairly present in all material respects the
financial position of the
Company as of the dates
thereof and the results of its operations and
cash flows for the periods then ended (subject,
in the case of unaudited
statements, to normal yearend audit adjustments which
will not be material, either individually
or in the aggregate). The reserves, if
any, established by the Company or
the lack of reserves, if applicable,
are reasonable based upon facts and circumstances known
by the Company on
the date hereof and there are no
loss contingencies that are required to
be accrued by the
Statement of Financial Accounting Standard
No. 5 of the
Financial Accounting Standards Board which are
not provided for by
the Company in its financial statements
or otherwise. No other
information provided by or on behalf of the Company
to any of the Buyers which
is not included in the SEC
Documents (including, without limitation,
information in the disclosure schedules to
this Agreement) contains any untrue statement
of a material fact or omits to state any material
fact necessary in order to make the statements therein not
misleading, in the light of the
circumstance under which they are or
were made. The Company is not currently contemplating
to amend or restate any of the
financial statements (including, without limitation,
any notes or any letter
of the independent accountants of the
Company with respect thereto) included in
the SEC Documents
(the “Financial Statements”),
nor is the Company currently aware of
facts or circumstances which would require
the Company to amend or restate any of
the Financial Statements, in each case, in order for any of
the Financials Statements to be in compliance with GAAP and the rules and regulations of the SEC. The Company has not been informed
by its independent accountants that they recommend that the Company amend or restate any of the Financial Statements or that there is
any need for the Company to amend or restate any of the Financial Statements. 

 

(k)       
Absence of Certain Changes. Since the
date of the Company's most recent audited
financial statements contained in a Form 10-K
or S-1, as the case may be, there has been no Material Adverse Effect, nor any event
or occurrence specifically affecting the Company or its Subsidiaries that would be reasonably expected to result in a Material Adverse
Effect. Since the date of the
Company's most recent audited financial statements contained
in a Form 10-K or S-1, as the case may be, neither
the Company nor any of
its Subsidiaries has (i) declared or paid any dividends,
(ii) sold any material assets, individually or
in the aggregate, outside of the
ordinary course of business or (iii) made
any material capital expenditures, individually or
in the aggregate, outside of the
ordinary course of business. Neither the
Company nor any of its Subsidiaries has
taken any steps to seek protection pursuant to
any law or statute relating to bankruptcy, insolvency, reorganization, receivership, liquidation
or winding up,
nor does the Company or
any Subsidiary have any knowledge or
reason to believe that any of their respective
creditors intend to initiate involuntary
bankruptcy proceedings or any actual knowledge
of any fact which would reasonably lead
a creditor to do so.

 

    	8  

    	 

    

(l)         
No Undisclosed Events,
Liabilities, Developments or Circumstances. No
event, liability, development or circumstance has occurred or exists, or
is reasonably expected to exist or occur specific
to the Company, any of its Subsidiaries or
any of their respective businesses, properties, liabilities,
prospects, operations (including results thereof) or
condition (financial or otherwise), that
has not been publicly disclosed and would
reasonably be expected to have a Material
Adverse Effect.

 

(m)      
Conduct of
Business; Regulatory Permits. Neither
the Company nor any of
its Subsidiaries is in violation of any
term under its Articles of
Incorporation, any certificate of designation,
preferences or rights of any other
outstanding series of preferred stock
of the Company or
any of its Subsidiaries or Bylaws or their organizational
charter, certificate of formation, memorandum of
association, articles of association, Articles of
Incorporation or certificate of incorporation
or bylaws, respectively. Neither the
Company nor any of its Subsidiaries is
in violation of any judgment,
decree or order or any statute, ordinance,
rule or regulation applicable to the
Company or any of its Subsidiaries, and
neither the Company nor
any of its Subsidiaries will conduct its
business in violation of any of
the foregoing, except in all cases for
violations which would not reasonably be expected to
have a Material Adverse Effect. Without
limiting the generality of
the foregoing, the Company is not
in violation of any of
the rules, regulations or requirements
of the Principal Market and has no
knowledge of any facts or
circumstances that could reasonably lead
to delisting or suspension of the
Common Shares by the Principal Market in
the foreseeable future. During the
one year prior to the date hereof, (i)
the Common Shares has been listed or designated for
quotation on the
Principal Market, (ii) trading in the Common Shares has not
been suspended by the SEC
or the Principal Market and (iii) the
Company has received no communication, written or
oral, from the SEC
or the Principal Market regarding the
suspension or delisting of the Common Stock
from the Principal Market, which has not been
publicly disclosed. The Company and each of its Subsidiaries possess all certificates, authorizations
and permits issued by the appropriate regulatory
authorities necessary to conduct their
respective businesses, except where the failure
to possess such certificates, authorizations or permits would
not reasonably be expected to have, individually
or in the aggregate, a Material Adverse
Effect, and neither the
Company nor any of its Subsidiaries has
received any notice of proceedings relating to
the revocation or modification of
any such certificate, authorization or permit. There is no
agreement, commitment, judgment, injunction, order
or decree binding upon
the Company or any of its Subsidiaries or
to which the Company or any of
its Subsidiaries is a party which has or would
reasonably be expected to have the
effect of prohibiting
or materially impairing any business practice of
the Company or any of
its Subsidiaries, any acquisition of property by
the Company or any of
its Subsidiaries or the conduct of
business by the Company or
any of its Subsidiaries as currently conducted
other than such effects, individually or
in the aggregate, which have
not had and would not reasonably be
expected to have a Material Adverse Effect on
the Company or any of
its Subsidiaries. 

 

(n)        
Foreign Corrupt Practices. Neither the
Company nor any of
its Subsidiaries nor any director, officer,
agent, employee, nor any other
person acting for or on behalf of the
Company or any of its Subsidiaries (individually
and collectively, a “Company Affiliate”) have violated
the U.S. Foreign Corrupt Practices Act (the “FCPA) or
any other applicable antibribery or anti corruption
laws, nor has any Company Affiliate offered, paid, promised
to pay, or authorized the payment of
any money, or offered, given, promised
to give, or authorized the
giving of anything of
value, to any officer, employee or any
other person acting in an official capacity
for any Governmental Entity to any political party
or official thereof or to any candidate
for political office (individually and
collectively, a “Government Official”) or to any person under
circumstances where such Company Affiliate knew or was aware of
a high probability that all or
a portion of such money or thing
of value would be
offered, given or promised, directly or
indirectly, to any Government Official, for the purpose, in violation
of applicable law, of: (i) (A) influencing
any act or decision of such Government Official in his/her
official capacity, (B) inducing such Government Official to do
or omit to do any act in violation of
his/her lawful duty, (C) securing any improper advantage, or (D) inducing
such Government Official to influence or affect
any act or decision of any Governmental Entity, or
(ii) assisting the Company or its Subsidiaries
in obtaining or retaining business for or
with, or directing business to,
the Company or its Subsidiaries. 

 

    	9  

    	 

    

(o)        
Equity Capitalization.

 

(i)       
Authorized and Outstanding Capital Stock. As of the date hereof,
the Company is authorized to issue 400,000,000 capital stock, consisting of three classes: 285,774,103 shares of Class A Common Stock,
$0.0001 par value per share, 14,225,898 shares of Class B Common Stock, $0.00001 par value per share, and 100,000,000 shares of Preferred
Stock, $0.00001 par value per share. As of the date hereof, there were 16,044,588 shares of Class A Common Stock outstanding, and there
were 14,225,898 shares of Class B Common Stock outstanding. 

 

(ii)      
Valid Issuance; Available Shares. All of such outstanding
shares are duly authorized and have been validly issued and are fully paid and nonassessable. 

 

(iii)     
Existing Securities; Obligations. Except as disclosed
in the SEC Documents: (A) none of the Company's or any Subsidiary's shares, interests or capital stock is subject to preemptive rights
or any other similar rights or Liens suffered or permitted by the Company or any Subsidiary; (B) there are no outstanding options,
warrants, scrip, rights to subscribe to, calls or commitments of any character whatsoever relating to, or securities or rights convertible
into, or exercisable or exchangeable for, any shares, interests or capital stock of the Company or any of its Subsidiaries, or contracts,
commitments, understandings or arrangements by which the Company or any of its Subsidiaries is or may become bound to issue additional
shares, interests or capital stock of the Company or any of its Subsidiaries or options, warrants, scrip, rights to subscribe to, calls
or commitments of any character whatsoever relating to, or securities or rights convertible into, or exercisable or exchangeable for,
any shares, interests or capital stock of the Company or any of its Subsidiaries; (C) there are no agreements or arrangements under
which the Company or any of its Subsidiaries is obligated to register the sale of any of their securities under the 1933 Act (except
pursuant to this Agreement); (D) there are no outstanding securities or instruments of the Company or any of its Subsidiaries which
contain any redemption or similar provisions, and there are no contracts, commitments, understandings or arrangements by which the Company
or any of its Subsidiaries is or may become bound to redeem a security of the Company or any of its Subsidiaries; (E) there are
no securities or instruments containing antidilution or similar provisions that will be triggered by the issuance of the Securities;
and (G) neither the Company nor any Subsidiary has any stock appreciation rights or "phantom stock" plans or agreements or
any similar plan or agreement.

 

(iv)     
Organizational Documents. The Company has furnished to the
Buyers or filed on EDGAR true, correct and complete copies of the Company's Articles of Incorporation, as amended and as in effect on
the date hereof (the “Articles of Incorporation”), and the Company's bylaws, as amended and as in effect on the date
hereof (the “Bylaws”), and the terms of all convertible securities and the material rights of the holders thereof
in respect thereto.

 

(p)       
Litigation. Except as
disclosed in the SEC Documents, there is no
action, suit, arbitration, proceeding, inquiry or investigation
before or by the Principal Market, any
court, public board, other Governmental Entity,
selfregulatory organization or body pending or,
to the knowledge of the
Company, threatened against or affecting the Company
or any of its Subsidiaries, the
Common Shares or any of the
Company's or its Subsidiaries' officers or directors,
whether of a civil
or criminal nature or otherwise, in their capacities
as such, which would reasonably be expected to
result in a Material Adverse Effect. After reasonable inquiry
of its employees, the Company is not aware
of any event which
might result in or form the
basis for any such action, suit, arbitration, investigation,
inquiry or other proceeding.
Without limitation of the
foregoing, there has not been, and to the
knowledge of the Company, there is not
pending or contemplated, any investigation by
the SEC involving
the Company, any of its Subsidiaries or
any current or former director or
officer of the Company or
any of its Subsidiaries. Neither the
Company nor any of its Subsidiaries is
the subject of any order, writ, judgment,
injunction, decree, determination or award
of any Governmental Entity that would
reasonably be expected to result in a Material Adverse Effect.

 

    	10  

    	 

    

(q)       
Insurance. The Company and each of its Subsidiaries
are insured by insurers of recognized financial
responsibility against such losses and risks and in such amounts as management of the
Company believes to be prudent and customary
in the businesses in which the Company and its
Subsidiaries are engaged. In accordance with the previous sentence, the Company currently
maintains no insurance policies. Neither the Company nor
any such Subsidiary has been refused any insurance coverage sought or applied for,
and neither the Company nor
any such Subsidiary has any reason to believe that it will
be unable to renew its
existing insurance coverage as and when such coverage expires or
to obtain similar coverage from similar
insurers as may be necessary to continue its
business at a cost that would not have
a Material Adverse Effect. 

 

(r)         
Manipulation of
Price. Neither
the Company nor any of
its Subsidiaries has, and, to the knowledge of
the Company, no Person acting
on their behalf has, directly or indirectly, (i) taken
any action designed to cause or to result
in the stabilization or manipulation of the
price of any security of the
Company or any of its Subsidiaries 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 or any of its Subsidiaries. 

 

(s)        
Registration Eligibility.
The Company is eligible to register the resale
of the Conversion Shares by
the Buyers using Form
S-1 promulgated under the 1933 Act.

 

(t)         
Shell Company Status. The Company is not, and
has never been, an issuer identified in,
or subject to, Rule
144(i). 

 

(u)        
Money Laundering.
The Company and its Subsidiaries are in compliance with,
and have not previously violated,
the USA Patriot Act of 2001 and all other
applicable U.S. and nonU.S. antimoney laundering laws and regulations,
including, but not limited to, the laws,
regulations and Executive Orders and sanctions
programs (“Sanctions Programs”) administered by the
U.S. Office of Foreign Assets Control (“OFAC”),
including, without limitation,
(i) Executive Order 13224 of
September 23, 2001 entitled, "Blocking Property and Prohibiting Transactions
With Persons Who Commit, Threaten to Commit, or
Support Terrorism" (66 Fed. Reg. 49079 (2001));
and any regulations contained in 31 CFR, Subtitle B, Chapter V. 

 

(v)        
Disclosure. The Company confirms that neither
it nor any other Person acting
on its behalf has provided any of the
Buyers or their agents or counsel with any
information that constitutes or could reasonably
be expected to constitute material, nonpublic
information concerning the Company or any
of its Subsidiaries, other than
the existence of the
transactions contemplated by this Agreement
and the other Transaction Documents. The Company understands and confirms that
each of the Buyers will
rely on the foregoing representations in
effecting transactions in securities of the Company.
All disclosures provided to the
Buyers regarding the Company and its Subsidiaries,
their businesses and the transactions contemplated
hereby, including the schedules to this
Agreement, furnished by or on behalf of the Company
or any of its Subsidiaries, taken
as a whole, are 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 the light of the
circumstances under which they were made,
not misleading. All of
the written information furnished after the date
hereof by or on behalf of the Company or
any of its Subsidiaries to each Buyer pursuant
to or in connection with this Agreement and the
other Transaction Documents, taken as a whole,
will be true and correct in all material respects as of
the date on which
such information is so provided and will 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 the
light of the circumstances under
which they were made, not misleading. No
event or circumstance has occurred or information exists with
respect to the Company or any of
its Subsidiaries or its or their business, properties, liabilities,
prospects, operations (including results thereof) or
conditions (financial or otherwise), which,
under applicable law, rule or regulation, requires public
disclosure at or before the date
hereof or announcement by the Company but
which has not been so publicly disclosed.
All financial projections and forecasts that
have been prepared by or on behalf of the Company
or any of its Subsidiaries and made available
to the Buyers have been prepared in good
faith based upon reasonable assumptions and represented, at the
time each such financial projection or forecast was delivered to each Buyer, the
Company's best estimate of future financial performance (it being
recognized that such financial projections or forecasts
are not to be viewed as facts and that
the actual results during
the period or periods covered by
any such financial projections or forecasts may differ from
the projected or forecasted results). The
Company acknowledges and agrees that no Buyer makes
or has made any representations or warranties with
respect to the transactions contemplated hereby
other than those specifically set forth in Section
2. 

 

    	11  

    	 

    

(w)       
No General Solicitation. Neither the Company, nor any of its affiliates, nor any Person
acting on its or their behalf, has engaged in any form of general solicitation or general advertising (within the meaning of Regulation
D under the Securities Act) in connection with the offer or sale of the Securities.

 

(x)       
Private Placement. Assuming the accuracy of the Buyers’ representations and
warranties set forth in Section 2, no registration under the Securities Act is required for the offer and sale of the Securities by the
Company to the Buyers as contemplated hereby. The issuance and sale of the Securities hereunder does not contravene the rules and regulations
of the Primary Market. 

 

		4.	COVENANTS.

 

(a)      
Reporting Status. For the period beginning on the date hereof, and ending 6 months after the date on which all the Convertible
Debentures and Warrants are no longer outstanding (the “Reporting Period”), the
Company shall file on a timely basis all reports required to be filed with the SEC
pursuant to the 1934 Act, and the Company
shall not terminate its status as an issuer required to file reports under
the 1934 Act even if the 1934 Act or the rules
and regulations thereunder would no longer require
or otherwise permit such termination. 

(b)      
Use of Proceeds. Neither the Company nor any Subsidiary will, directly or indirectly, use the proceeds of the transactions
contemplated herein to repay any loans to any executives or employees of the Company, or to make any payments in respect of any related
party debt. Neither the Company nor any Subsidiary will, directly or indirectly, use the proceeds of the transactions contemplated herein,
or lend, contribute, facilitate or otherwise make available such proceeds to any Person (i) to fund, either directly or indirectly,
any activities or business of or with any Person that is identified on the list of Specially Designated Nationals and Blocker Persons
maintained by OFAC, or in any country or territory, that, at the time of such funding, is, or whose government is, the subject of Sanctions
Programs, or (ii) in any other manner that will result in a violation of Sanctions Programs. 

(c)      
Listing. The Company shall promptly secure the listing or designation for quotation
(as the case may be) of all of the Underlying
Securities (as defined below) upon each national securities
exchange and automated quotation system, if any, upon
which the Common Shares are then listed or designated for quotation (as the
case may be, each an “Eligible Market”), subject to official notice of
issuance, and shall use reasonable efforts to maintain such listing or designation for quotation
(as the case may be) of all Underlying Securities from
time to time issuable under the terms of the
Transaction Documents on such Eligible Market for the Reporting Period. Neither the Company
nor any of its Subsidiaries shall take any action which
could be reasonably expected to result in the delisting or suspension of the
Common Shares on an Eligible Market during the Reporting Period. The Company shall pay all fees and expenses in connection
with satisfying its obligations under this Section 4(c). “Underlying Securities”
means the (i) the Conversion Shares, Commitment
Shares, and Warrant Shares, and (ii) any common shares of the Company issued or issuable
with respect to the Conversion Shares or Warrant
Shares, including, without limitation, (1) as
a result of any stock split, stock dividend, recapitalization, exchange or similar event
or otherwise and (2) shares of capital stock of the Company into
which the Common Shares are converted or exchanged without regard to any limitations
on conversion of the Convertible Debentures or exercise
in the Warrants. 

(d)      
Fees. The Company shall issue to the Buyer 150,000 Common Shares (the “Commitment Shares”) as a Commitment
Fee and the Warrants to purchase 1,000,000 Common Shares (as set forth above). The Commitment Shares shall be issuable to the Buyer at
the First Closing. The Company shall pay to YA Global II SPV, LLC, an affiliate of the Buyer (the “Subsidiary Fund”),
a one-time legal fee in the amount of $10,000. The legal fee shall be deducted from the gross proceeds of the First Closing. 

    	12  

    	 

    

(e)     
Pledge of Securities. Notwithstanding anything to the
contrary contained in this Agreement, the Company
acknowledges and agrees that, subject to compliance with applicable federal and state securities
laws, the Securities may be pledged by an Investor
in connection with a bona fide margin agreement
or other loan or financing arrangement that is secured by the
Securities. The Company hereby agrees to execute and deliver such documentation as a pledgee
of the Securities may reasonably request in connection
with a pledge of the Securities to such
pledgee by a Buyer. 

(f)     
Disclosure of Transactions and Other Material Information. Within 4 days after
the date of this Agreement, the
Company shall file a current report on Form 8-K describing all the
material terms of the transactions contemplated by the
Transaction Documents in the form required
by the 1934 Act and attaching all the material
Transaction Documents (including, without limitation, this
Agreement and all schedules to this Agreement) (including all attachments, the
“Current Report”). From
and after the filing of the Current Report,
the Company shall have disclosed all material, nonpublic
information (if any) provided to any of the Buyers 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. In
addition, effective upon the filing of
the Current Report, the Company acknowledges
and agrees that any and all confidentiality or similar obligations with respect to
the transactions contemplated by the Transaction
Documents under any agreement, whether written
or oral, between the Company, any of its Subsidiaries or any of their respective officers,
directors, affiliates, employees or agents, on the one hand, and any of the
Buyers or any of their affiliates, on the other hand, shall terminate. The Company
shall not, and the Company shall cause each of
its Subsidiaries and each of its and their respective officers, directors, employees and agents not
to, provide any Buyer with any material, nonpublic
information regarding the Company or any of its Subsidiaries from
and after the date hereof without the
express prior written consent of such Buyer (which may be granted or withheld in such
Buyer's sole discretion).

(g)     
Reservation of Shares. So long as
any of the Convertible Debentures remain outstanding,
the Company shall take all action necessary to at all times have authorized, and reserved for the
purpose of issuance, no less than 300% of the
maximum number of Common Shares issuable upon conversion of all the
Convertible Debentures then outstanding (assuming
for purposes hereof that (x) the Convertible Debentures
are convertible at the Conversion Price then in effect, and (y) any such conversion
shall not take into account any limitations on
the conversion of the Convertible
Debentures, including the Floor Price) (the “Required Reserve Amount”);
provided that at no time shall the number of Common Shares reserved pursuant to this
Section 4(g) be reduced other than proportionally in connection
with any conversion and/or redemption, or reverse stock split. If
at any time the number of Common Shares authorized and reserved for issuance is not
sufficient to meet the Required Reserved Amount, the
Company will promptly take all corporate action necessary to authorize and reserve
a sufficient number of shares, including, without limitation,
calling a special meeting of stockholders to authorize additional shares to meet the
Company's obligations pursuant to the Transaction
Documents, in the case of an insufficient number of authorized shares, recommending that
stockholders vote in favor of an increase in such authorized number of shares sufficient to meet the
Required Reserved Amount. 

(h)     
Conduct of Business. The business of the
Company and its Subsidiaries shall not be conducted
in violation of any law, ordinance or regulation of any Governmental Entity, except
where such violations would not reasonably be expected to result, either individually
or in the aggregate, in a Material Adverse Effect.

(i)       
From the date hereof until (A) no more than $5,000,000 of Convertible Debentures remain outstanding, or (B) the first date when
each of the following conditions are satisfied: (i) 9 months have elapsed from the Closing Date and the Buyers are eligible to freely
resell Conversion Shares pursuant to Rule 144 or otherwise, (ii) the closing price of the Common Shares during each of the five (5) consecutive
prior Trading Days shall be at least 200% of the Floor Price (as defined in the Convertible Debentures), and (iii) no Event of Default
(as defined in the Convertible Debentures) shall have occurred), unless the holders of at least 75% in principal amount of the then outstanding
Convertible Debentures shall have given prior written consent, the Company shall not, and shall not permit any of its subsidiaries (whether
or not a subsidiary on the date hereof) to, directly or indirectly (i) 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,
(ii) other than Permitted Liens, enter into, create, incur, assume or suffer to exist any lien, security interest, option or other charge
or encumbrance (each, a “Lien”) 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, or (iii) 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 holders of the Convertible
Debentures, (iv) make any payments in respect of any related party debt, or (v) enter into or agree to enter into any debenture, note,
instrument, contract, financing arrangements, or other transaction that allows the holder of such instrument or counterparty to such
transaction to acquire shares of Common Stock, or receive payments based on the price of the Common Shares, based on a price that varies
or changes based on the market price of the Common Shares. 

    	13  

    	 

    

“Permitted
Indebtedness” shall mean: (i) indebtedness evidenced by the Convertible Debentures; (ii) indebtedness described on a Disclosure
Schedule attached hereto; (iii) indebtedness incurred solely for the purpose of financing the acquisition or lease of any equipment,
including capital lease obligations with no recourse other than to such equipment; (iv) indebtedness (A) the repayment of which has been
subordinated to the payment of the Convertible Debentures on terms and conditions acceptable to the Buyers, including with regard to
interest payments and repayment of principal, (B) which does not mature or otherwise require or permit redemption or repayment prior
to or on the 91st day after the maturity date of any Convertible Debentures then outstanding; and (C) which is not secured by any assets
of the Company or its subsidiaries; (v) indebtedness associated with acquiring new intellectual property assets and licenses, so long
as the proceeds are going to the party(ies) from which the Company is acquiring the assets, licenses, and other properties and (vi) any
indebtedness (other than the indebtedness set out in (i) – (v) above) incurred after the date hereof, provided that such indebtedness
does not exceed $1,500,000 at any given time.

“Permitted
Liens” shall mean (1) any security interest granted to the Buyers to secure the obligations under the Convertible Debentures,
(2) any prior security interest granted to the Buyers, (3) existing Liens disclosed by the Company on a Disclosure Schedule attached
hereto; (4) inchoate Liens for taxes, assessments or governmental charges or levies not yet due, as to which the grace period, if any,
related thereto has not yet expired, or being contested in good faith and by appropriate proceedings for which adequate reserves have
been established in accordance with GAAP; (5) Liens of carriers, materialmen, warehousemen, mechanics and landlords and other similar
Liens which secure amounts which are not yet overdue by more than 60 days or which are being contested in good faith by appropriate proceedings
for which adequate reserves have been established in accordance with GAAP; (6) licenses, sublicenses, leases or subleases granted to
other persons not materially interfering with the conduct of the business of the Company; (7) Liens securing capitalized lease obligations
and purchase money indebtedness incurred solely for the purpose of financing an acquisition or lease; (8) easements, rights-of-way, restrictions,
encroachments, municipal zoning ordinances and other similar charges or encumbrances, and minor title deficiencies, in each case not
securing debt and not materially interfering with the conduct of the business of the Company and not materially detracting from the value
of the property subject thereto; (9) Liens arising out of the existence of judgments or awards which judgments or awards do not constitute
an Event of Default; (10) Liens incurred in the ordinary course of business in connection with workers compensation claims, unemployment
insurance, pension liabilities and social security benefits and Liens securing the performance of bids, tenders, leases and contracts
in the ordinary course of business, statutory obligations, surety bonds, performance bonds and other obligations of a like nature (other
than appeal bonds) incurred in the ordinary course of business (exclusive of obligations in respect of the payment for borrowed money);
(11) Liens in favor of a banking institution arising by operation of law encumbering deposits (including the right of set-off) and contractual
set-off rights held by such banking institution and which are within the general parameters customary in the banking industry and only
burdening deposit accounts or other funds maintained with a creditor depository institution; (12) usual and customary set-off rights
in leases and other contracts; (13) escrows in connection with acquisitions and dispositions and (14) royalties and other rights to revenue
derived from the sale of the Company’s products that are granted in the ordinary course of business.

		5.	REGISTER;
                                            TRANSFER AGENT INSTRUCTIONS; LEGEND.

 

(a)      
Register. The Company shall maintain at its principal executive offices or with the
Transfer Agent (or at such other
office or agency of the Company as it may designate by notice
to each holder of Securities), a register for the
Convertible Debentures in which the Company
shall record the name and address of the Person
in whose name the Convertible Debentures have
been issued (including the name and address of each transferee), the
amount of Convertible Debentures held by such Person, and the number of Conversion
Shares issuable upon conversion of the Convertible
Debentures held by such Person. The Company shall keep the register open and available
at all times during business hours for inspection of any Buyer or its legal representatives.

    	14  

    	 

    

(b)     
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, to the Company or
to an Affiliate of a Buyer or in connection with a pledge as contemplated herein, 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 transfer, any such transferee shall agree in writing to be bound by the terms
of this Agreement and shall have the rights and obligations of a Buyer under this Agreement. 

 

		6.	CONDITIONS
                                            TO THE COMPANY’S OBLIGATION TO SELL.

 

The
obligation of the
Company hereunder to issue and sell the Convertible
Debentures to each Buyer at the Closing
is subject to the satisfaction, at or before
the Closing Date, of each of
the following conditions,
provided that these conditions are for
the Company's sole benefit and may be waived by the
Company at any time in its sole discretion by providing
each Buyer with prior written notice
thereof:

 

(a)      
Such Buyer shall have executed each of the Transaction Documents to which
it is a party and delivered the same to the
Company.

(b)     
Such Buyer and each other Buyer shall have delivered to the
Company the Purchase Price (less, in the case
of any Buyer, the amounts withheld pursuant to
Section 4(d)) for the Convertible Debentures
being purchased by such Buyer at the Closing
by wire transfer of immediately available funds in accordance with the Closing Statement.

(c)     
The representations and warranties of such Buyer shall be true and correct in all material respects as of the
date when made and as of the Closing Date as though
originally made at that time (except for representations and warranties that speak as of a specific date, which
shall be true and correct as of such specific date), and such Buyer shall have performed, satisfied and complied in all material
respects with the covenants, agreements and conditions
required by this Agreement to be performed, satisfied or complied with
by such Buyer at or prior to the Closing Date. 

		7.	CONDITIONS
                                            TO EACH BUYER'S OBLIGATION TO PURCHASE.

 

The obligation
of each Buyer hereunder to purchase its Convertible Debentures at each Closing is subject to the satisfaction, at or before each Closing
Date, of each of the following conditions, provided that these conditions are for each Buyer's sole benefit and may be waived by such
Buyer at any time in its sole discretion by providing the Company with prior written notice thereof:

 

(a)      
The Company shall have duly executed and delivered to such Buyer each of the
Transaction Documents to which it is a party and the
Company shall have duly executed and delivered to such Buyer a Convertible Debenture
with a principal amount corresponding to the Subscription Amount set forth opposite such Buyer’s name on Schedule of Buyers attached
as Schedule I for the Closing. 

(b)     
Such Buyer shall have received the opinion of
counsel to the Company, dated as of the First Closing Date, in a
form reasonably acceptable to such Buyer.

(c)       
The Company shall have delivered to each Buyer copies of its and each Subsidiaries certified copies of its charter, as well as
any shareholder or operating agreements by or among the shareholders or members of any of the Company’s Subsidiaries.

(d)      
The Company shall have delivered to such Buyer a certificate evidencing the incorporation
and good standing of the Company as of a date
within ten (10) days of the Closing Date. 

    	15  

    	 

    

(e)      
Each and every representation and warranty of the Company shall be true and correct
in all material respects (other than representations and warranties qualified by materiality, which
shall be true and correct in all respects) as of the date when made and as of each
Closing Date as though originally made at that time (except for representations and
warranties that speak as of a specific date, which shall be true and correct as of such specific
date) and the Company shall have performed, satisfied and complied in all respects with
the covenants, agreements and conditions set forth in each Transaction Document required
to be performed, satisfied or complied with by the Company
at or prior to each Closing Date.

(f)      
The Common Shares (A) shall be designated for quotation or listed (as applicable)
on the Principal Market and (B) shall not have
been suspended, as of the applicable Closing Date, by the
SEC or the Principal Market from
trading on the Principal Market nor shall
suspension by the SEC or the
Principal Market have been threatened, as of the applicable Closing Date, either (I)
in writing by the SEC or the
Principal Market or (II) by falling below the
minimum maintenance requirements of the Principal Market. 

(g)     
The Company shall have obtained all governmental, regulatory or third-party consents
and approvals, if any, necessary for the sale of the
Securities, including without limitation,
those required by the Principal Market, if any.

(h)     
No statute, rule, regulation, executive order, decree, ruling or injunction shall
have been enacted, entered, promulgated or endorsed by any court or Governmental Entity of competent jurisdiction that prohibits the
consummation of any of the transactions contemplated by the
Transaction Documents. 

(i)       
Since the date of execution of this Agreement,
no event or series of events shall have occurred that has resulted in or would reasonably
be expected to result in a Material Adverse Effect or an Event of Default (as defined in the Convertible
Debentures). 

(j)      
The maximum number of Conversion Shares issuable pursuant to the Convertible Debentures
to be issued at such Closing shall not, when aggregated with all Conversion Shares previously issued and that remain issuable pursuant
to any prior Convertible Debentures issued hereunder, exceed the Exchange Cap, and the Company shall have obtained
approval of the Principal Market to list or designate for quotation
(as the case may be) the maximum number of Conversion
Shares issuable pursuant to the Convertible Debentures to be issued at the Closing.

(k)      
Such Buyer shall have received a letter, duly executed by an
officer of the Company, setting forth the wire
amounts of each Buyer and the wire transfer instructions of the
Company (the “Closing Statement”). 

(l)      
(i) From the date hereof to the
applicable Closing Date, trading in the Common Shares shall not
have been suspended by the SEC or the
Principal Market (except for any suspension of trading of limited duration agreed to by the
Company, which suspension shall be terminated prior to the
Closing), and (ii) at any time prior to the applicable
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 the
Principal 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 each Buyer, makes it impracticable or inadvisable to purchase the Securities
at the Closing.

(m)    
The Company and its Subsidiaries shall have delivered to such Buyer such other documents,
instruments or certificates relating to the transactions contemplated by this
Agreement as such Buyer or its counsel may reasonably request. 

(n)     
Solely with respect to the Second Closing, the Company shall have filed the Registration Statement with the SEC in accordance
with the provisions set forth in the Registration Rights Agreement, including the filing deadline set froth therein.

    	16  

    	 

    

(o)     
Solely with respect to the Third Closing, the Registration Statement shall be effective in accordance with the provisions set
forth in the Registration Rights Agreement, including the effectiveness deadline set froth therein. 

		8.	TERMINATION.

 

In
the event that the Closing shall not have occurred with respect to a Buyer within five (5) days of the date hereof, then such Buyer shall
have the right to terminate its obligations under this Agreement with respect to itself at any time on or after the close of business
on such date without liability of such Buyer to any other party; provided, however, (i) the right to terminate this Agreement under
this Section 8 shall not be available to such Buyer if the failure of the transactions contemplated by this Agreement to have been consummated
by such date is the result of such Buyer's breach of this Agreement and (ii) the abandonment of the sale and purchase of the Convertible
Debentures shall be applicable only to such Buyer providing such written notice, provided further that no such termination shall affect
any obligation of the Company under this Agreement to reimburse such Buyer for the expenses described herein. Nothing contained in this
Section 8 shall be deemed to release any party from any liability for any breach by such party of the terms and provisions of this Agreement
or the other Transaction Documents or to impair the right of any party to compel specific performance by any other party of its obligations
under this Agreement or the other Transaction Documents.

		9.	MISCELLANEOUS.

 

(a)     
Governing Law; Jurisdiction; Jury Trial. All questions concerning
the construction, validity, enforcement and interpretation of this
Agreement shall be governed by the internal laws of the
State of New York, without giving
effect to any choice of law or conflict of law provision or rule (whether of the
State of New York or any other jurisdictions)
that would cause the application of the
laws of any jurisdictions other than the State
of New York. 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 under
any of the other Transaction Documents or with
any transaction contemplated hereby or thereby, and hereby irrevocably waives, and agrees not
to assert in any suit, action or proceeding, any claim that it is not personally subject
to the jurisdiction of any such court, that such suit, action or proceeding is brought in
an inconvenient forum or that the venue of such
suit, action or proceeding is improper. Each party hereby irrevocably waives personal service of process and consents to process being
served in any such suit, action or proceeding by mailing a copy thereof to such party at the
address for such notices to it under this Agreement and agrees that such service shall
constitute good and sufficient service of process and notice
thereof. Nothing contained herein shall be deemed to limit in any way any right to
serve process in any manner permitted by law. Nothing contained herein shall be deemed or
operate to preclude any Buyer from bringing suit or taking
other legal action against the Company in any other
jurisdiction to collect on the Company's obligations
to such Buyer or to enforce a judgment or other court ruling in favor of such Buyer.
EACH PARTY HEREBY IRREVOCABLY WAIVES ANY
RIGHT IT MAY HAVE TO,
AND AGREES NOT TO REQUEST, A JURY TRIAL FOR
THE ADJUDICATION OF ANY DISPUTE HEREUNDER
OR UNDER ANY OTHER TRANSACTION DOCUMENT OR
IN CONNECTION WITH OR ARISING OUT OF THIS
AGREEMENT, ANY OTHER TRANSACTION DOCUMENT OR ANY
TRANSACTION CONTEMPLATED HEREBY OR THEREBY.

(b)     
Counterparts. This Agreement may be executed in two or more identical counterparts,
all of which shall be considered one and the
same agreement and shall become effective when counterparts have been signed by each party and delivered to the
other party. In the event that any signature
is delivered by facsimile transmission or by an email which contains a portable document
format (.pdf) file of an executed signature page, such signature page 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 signature page were an original thereof. 

(c)     
Headings; Gender. The headings of
this Agreement are for convenience of reference
and shall not form part of, or affect
the interpretation of, this Agreement.
Unless the context clearly indicates otherwise, each pronoun herein shall be deemed to include
the masculine, feminine, neuter, singular and plural forms thereof. The terms "including,"
"includes," "include" and words of like import shall be construed broadly
as if followed by the words "without limitation." The terms "herein,"
"hereunder," "hereof" and words of like import refer
to this entire Agreement instead of just the
provision in which they are found.

    	17  

    	 

    

(d)      
Entire Agreement, Amendments. This Agreement supersedes all other prior oral or written agreements between the Buyer, the
Company, their affiliates and persons acting on their behalf with respect to the matters discussed herein, and this Agreement and the
instruments referenced herein contain the entire understanding of the parties with respect to the matters covered herein and therein
and, except as specifically set forth herein or therein, neither the Company nor any Buyer makes any representation, warranty, covenant
or undertaking with respect to such matters. No provision of this Agreement may be waived or amended other than by an instrument in writing
signed by the party to be charged with enforcement. 

(e)     
Notices. Any notices, consents, waivers or other
communications required or permitted to be given under the terms of this
Agreement must be in writing by letter and email and will be deemed to have been delivered:
upon the later of (A) either (i) receipt, when delivered personally or (ii) one (1) Business
Day after deposit with an overnight courier service with
next-day international delivery specified, in each case, properly addressed to the party
to receive the same and (B) receipt, when sent by electronic mail. The addresses and email
addresses for such communications shall be:

	If
    to the Company, to:	HELBIZ,
    INC.
	 	32 Old Slip

    New York, NY 10005

    Attention: Salvatore Palella

    Telephone: (917) 535-2610

    Email: ceo@helbiz.com]

     

     

	With
    Copy to:	William Rosenstadt, Esq.

    Ortoli Rosenstadt LLP

    366 Madison Avenue, 3rd Floor

    New York, NY 10017

    Telephone:  (212) 588-0022

    E-Mail:  wsr@orllp.legal

	 	 
	If
    to a Buyer, to its address and email address set forth on the Schedule of Buyers, with copies to such Buyer's representatives as
    set forth on the Schedule of Buyers, 
	 	 
	 	 
	With
    copy to:	David Fine, Esq.

    c/o Yorkville Advisors Global, LP

    1012 Springfield Avenue

    Mountainside, NJ 07092

    Telephone: (201) 985-8300

    Email: legal@yorkvilleadvisors.com

	 	 

or
to such other address, email address and/or to the attention of such other Person as the recipient party has specified by written notice
given to each other party five (5) days prior to the effectiveness of such change. Written confirmation of receipt (A) given by the recipient
of such notice, consent, waiver or other communication, (B) electronically generated by the sender's e-mail service provider containing
the time, date, recipient e-mail address or (C) provided by an overnight courier service shall be rebuttable evidence of personal service,
receipt by facsimile or receipt from an overnight courier service in accordance with clause (i), (ii) or (iii) above, respectively

(f)      
Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their respective
successors and assigns, including any purchasers of any of the Convertible Debentures (but excluding any purchasers of Underlying Securities,
unless pursuant to a written assignment by such Buyer). The Company shall not assign this Agreement or any rights or obligations hereunder
without the prior written consent of the Buyers. In connection with any transfer of any or all of its Securities, a Buyer may assign
all, or a portion, of its rights and obligations hereunder in connection with such Securities without the consent of the Company, in
which event such assignee shall be deemed to be a Buyer hereunder with respect to such transferred Securities.

    	18  

    	 

    

(g)       
Indemnification.

(i)   In consideration of each Buyer's execution
and delivery of the Transaction Documents
and acquiring the Securities thereunder
and in addition to all of the
Company's other obligations under the Transaction Documents, the
Company shall defend, protect, indemnify and hold harmless each Buyer
and each holder of any Securities and all
of their stockholders, partners, members, officers, directors, employees and direct or
indirect investors and any of the foregoing
Persons' agents or other representatives (including,
without limitation, those retained in connection
with the transactions contemplated by this Agreement)
(collectively, the “Indemnitees”)
from and against any and all actions, causes
of action, suits, claims, losses, costs, penalties, fees,
liabilities and damages, and expenses in connection
therewith (irrespective of whether any
such Indemnitee is a party to the action for which
indemnification hereunder is sought), and including reasonable attorneys' fees and
disbursements (the “Indemnified Liabilities”), incurred by
any Indemnitee as a result of, or arising out
of, or relating to (i) any misrepresentation or
breach of any representation or warranty
made by the Company in any of
the Transaction Documents, (ii) any breach of
any covenant, agreement or obligation
of the Company or
any Subsidiary contained in any of the
Transaction Documents or (iii) any cause of action,
suit, proceeding or claim brought or made
against such Indemnitee by a third party (including for
these purposes a derivative action brought on behalf of the
Company or any Subsidiary) or which
otherwise involves such Indemnitee that arises
out of or results from
(A) the execution, delivery, performance or enforcement
of any of the
Transaction Documents, (B) any transaction financed or to be
financed in whole or in part, directly
or indirectly, with the proceeds of
the issuance of the
Securities, or (C) any disclosure properly made by
such Buyer pursuant to Section 4(f), or (D)
the status of such Buyer
or holder of the
Securities either as an investor in the
Company pursuant to the transactions contemplated
by the Transaction Documents or as a party
to this Agreement (including, without
limitation, as a party in interest or otherwise
in any action or proceeding for injunctive or
other equitable relief). To the
extent that the foregoing undertaking
by the Company may be unenforceable for
any reason, the Company shall make the maximum
contribution to the payment and satisfaction of
each of the Indemnified Liabilities
which is permissible under applicable
law.

(ii)  
Promptly after receipt by an Indemnitee under
this Section 9(g) of notice of
the commencement of any action
or proceeding (including any governmental action
or proceeding) involving an Indemnified Liability, such Indemnitee shall, if a claim
in respect thereof is to be made against the Company
under this Section 9(g), deliver to the
Company a written notice of the
commencement thereof, and the Company shall have
the right to participate in, and,
to the extent the
Company so desires, to assume control of the defense
thereof with counsel mutually reasonably satisfactory
to the Company and the Indemnitee; provided,
however, that an Indemnitee shall have the
right to retain its own counsel with
the fees and expenses of such counsel to be paid
by the Company if: (A) the Company has
agreed in writing to pay such fees and expenses; (B) the
Company shall have failed promptly to assume the
defense of such Indemnified Liability and
to employ counsel reasonably satisfactory to such Indemnitee in any such Indemnified Liability;
or (C) the named parties to any such Indemnified Liability
(including any impleaded parties) include both such Indemnitee and the
Company, and such Indemnitee shall have been advised by
counsel that a conflict of interest is likely
to exist if the same counsel were to represent such Indemnitee and the
Company (in which case, if such Indemnitee notifies the
Company in writing that it elects to employ separate counsel at the
expense of the Company, then
the Company shall not have
the right to assume the defense thereof
and such counsel shall be at the expense of
the Company), provided further, that
in the case of clause (C) above
the Company shall not be responsible for
the reasonable fees and expenses of more than
one (1) separate legal counsel for the
Indemnitees. The Indemnitee shall reasonably cooperate with the Company in connection
with any negotiation or defense of
any such action or Indemnified Liability by the
Company and shall furnish to the Company all information reasonably available
to the Indemnitee which relates to such
action or Indemnified Liability. The Company shall keep the
Indemnitee reasonably apprised at all times as to the status of
the defense or any settlement negotiations
with respect thereto. The Company shall not be
liable for any settlement of any action,
claim or proceeding effected without its
prior written consent, provided, however, that
the Company shall not unreasonably withhold,
delay or condition its
consent. The Company shall not, without the
prior written consent of the Indemnitee,
consent to entry of any judgment or enter into
any settlement or other compromise which
does not include as an unconditional
term thereof the giving by the
claimant or plaintiff to such Indemnitee of a
release from all liability in respect to such
Indemnified Liability or litigation, and such
settlement shall not include any admission as to fault on
the part of the
Indemnitee. Following indemnification as provided
for hereunder, the Company shall be subrogated
to all rights of the Indemnitee with
respect to all third parties, firms or corporations
relating to the matter for which indemnification
has been made. The failure to deliver written notice
to the Company within a reasonable time
of the commencement of
any such action shall not relieve the
Company of any liability to the
Indemnitee under this Section 9(g), except to
the extent that the
Company is materially and adversely prejudiced in its ability
to defend such action.

    	19  

    	 

    

(iii)   The indemnification required by this Section
9(g) shall be made by periodic payments of
the amount thereof during the
course of the investigation or
defense, within ten (10) days after bills
supporting the Indemnified Liabilities
are received by the Company.

(iv)   The indemnity agreement contained herein
shall be in addition to (A) any cause of
action or similar right of the Indemnitee
against the Company or others, and (B) any liabilities
the Company may be subject to pursuant to the
law. 

(h)     
No Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to
express their mutual intent, and no rules of strict construction will be applied against any party.

 

[REMAINDER
PAGE INTENTIONALLY LEFT BLANK]

 

 

    	 20 

    	 

    

 

IN
WITNESS WHEREOF, each Buyer and the Company have caused their respective signature page to this Securities Purchase Agreement
to be duly executed as of the date first written above.

 

	 	COMPANY:

     

	 	HELBIZ, INC.
	 	 
	 	By:  /s/ Salvatore
    Palella  
	 	Name:  Salvatore Palella
	 	Title: CEO
	 	 

 

 

 

 

 

 

    	  

    	 

    

IN
WITNESS WHEREOF, each Buyer and the Company have caused their respective signature page to this Securities Purchase Agreement
to be duly executed as of the date first written above.

 

	 	BUYER:

     

     

	 	YA II PN, LTD. 
	 	 
	 	By:  Yorkville Advisors Global,
    LP
	 	Its:Investment Manager
	 	 
	 	       By:  Yorkville
    Advisors Global II, LLC
	 	       Its:   General
    Partner
	 	 
	 	       By: /s/
    Matt Beckman     
	 	       Name:Matt
    Beckman
	 	       Title:Member

 

 

 

    	  

    	 

    

 

LIST OF EXHIBITS:

 

 

 

 

    	  

    	 

    

EXHIBIT A

 

FORM OF CONVERTIBLE
DEBENTURES

 

 

 

 

    	  

    	 

    

 

EXHIBIT B

 

FORM OF WARRANTS

 

 

 

 

    	  

    	 

    

SCHEDULE OF BUYERS

 

 

	(a)	 	(b)	(c)	(d)
	Buyer
    	 	Subscription
    Amount of Convertible Debentures	Purchase
    Price (100% of Subscription Amount)	Warrants
	 	 	 	 	 
	YA II PN, Ltd.	 	 	 	 
	1012 Springfield
    Avenue	First Closing (Execution)	$15,000,000	$15,000,000	1,000,000.00 
	Mountainside, NJ
    07092	Second Closing (Filing of
    S-1)	$10,000,000	$10,000,000	                  -   
	Telehpone: (201)
    985-8300	Third Closing (Effectiveness
    of S-1)	$5,000,000	$5,000,000	                  -   
	Email:
    Legal@yorkvilleadvisors.com	 	 	 
	 	Aggregate:	$30,000,000	$30,000,000	1,000,000.00
    
	 	 	 	 	 
	 	 	 	 
	Legal
    Representative’s Address and Email	 	 
	David Fine, Esq.	 	 	 	 
	1012 Springfield
    Avenue	 	 	 	 
	Mountainside, NJ
    07092	 	 	 	 
	Email:
    Legal@yorkvilleadvisors.com

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