Document:

THESE SECURITIES HAVE NOT BEEN REGISTERED
WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION
UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR
SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM,
OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE
SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY
ACCEPTABLE TO THE COMPANY. THIS SECURITY AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS SECURITY MAY BE PLEDGED IN CONNECTION
WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES.

 

WARRANT TO PURCHASE COMMON STOCK

 

OF

 

ATOSSA GENETICS, INC.

 

ATOS -

 

THIS WARRANT (the “Warrant”) certifies that,
for value received, (the “Holder”), is entitled, upon the terms and subject to the limitations on exercise and
the conditions hereinafter set forth, at any time commencing after the earliest of the following to occur (the “Initial
Exercise Date”): (a) six months from the closing of the Company Initial Public Offering (defined below) (b) the closing
of a “fundamental transaction” (defined below), or (c) closing of a “significant private financing” (defined
below). This Warrant shall expire and no longer be exercisable as of 5:00 p.m. (New York City time) on the fifth anniversary of
the Initial Exercise Date (the “Expiration Date”), but not thereafter, and shall entitle the Holder to subscribe
for and purchase from Atossa Genetics, Inc., a Delaware corporation (the “Company”), up to [CALCULATED AS 100
% OF THE COMMON STOCK ISSUED TO THE INVESTOR PURSUANT TO THE PURCHASE AGREEMENT] shares of the Common Stock of the Company (the
“Warrant Shares”) at a purchase price equal to $1.60 per share (the “Exercise Price”). This
Warrant is one of a series of similar warrants to purchase Common Stock issued pursuant to that certain Securities Purchase Agreement,
dated of even date herewith, by and between the Company and the purchasers signatory thereto (the “Purchase Agreement”).
All such warrants are referred to herein, collectively, as the “Warrants.”

 

Section 1. Definitions. Capitalized terms used
and not otherwise defined herein shall have the meanings set forth in the Purchase Agreement.

 

    	1

    	 

    

 

(a) A “significant
private financing” means a sale of the Company’s securities primarily for capital raising purposes in a transaction
or series of related transactions that is exempt from registration under the Securities Act and in which the Company issues securities
representing at least 20% of the then outstanding capital stock of the Company, calculated assuming the conversion or exercise
of all outstanding options, warrants and other securities convertible into or exercisable for capital stock of the Company.

 

(b) The term “Company Initial Public
Offering” means the initial public offering of the Company’s Common Stock, registered under the Securities Act.

 

Section 2. Exercise.

 

(a) Exercise of Warrant. Exercise
of the purchase rights represented by this Warrant may be made at any time or times on or after the Initial Exercise Date and on
or before the Expiration Date by delivery to the Company of a duly executed facsimile copy of the Notice of Exercise Form annexed
hereto as Exhibit A and the payment of the Exercise Price for the Warrant Shares so purchased by wire transfer or cashier’s
check drawn on a United States bank. Upon exercise of the Warrant, the Company shall issue and deliver to the person or person
entitled to receive the same, a certificate or certificates for the number of Warrant Shares issuable upon such exercise. The Company
will provide written notice to the Holder of the date of closing of the Company Initial Public Offering and the resulting Initial
Exercise Date and Expiration Date.

 

(b) Cashless Exercise. In the event
that the Company’s common stock is then traded on a securities exchange, and a Registration Statement covering the resale
of the Warrant Shares as contemplated by the Purchase Agreement (a “Registration Statement”), has not been filed
by the Company and declared effective by the SEC, or such Registration Statement has been filed but is no longer effective, then
the Holder may exchange this Warrant on a cashless basis, in whole or in part (a “Cashless Exercise”), for the
number of Warrant Shares determined in accordance with this Section 2(b) by delivery to the Company of a duly executed facsimile
copy of the Notice of Exercise Form annexed hereto indicating the Holder’s intent to effect such exchange, provided,
however, that the right of a Holder to effect a Cashless Exercise pursuant to this Section 2(b) shall terminate at such
time as a Registration Statement is first declared effective by the SEC. In connection with any Cashless Exercise, the Company
shall issue to the Holder the number of Warrant Shares equal to the quotient obtained by dividing

[(A-B) (X)] by (A), where:

 

	(A)	 	=	 	the average closing stock price of the Company’s common stock on its principal stock exchange for the five Trading Days immediately preceding the date of such election;
	 	 	 	 	 
	(B)	 	=	 	the Exercise Price; and
	 	 	 	 	 
	(X)	 	=	 	the number of shares covered by the Warrant which the Holder has elected to exchange pursuant to this Section 2(b).

 

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(c) Mechanics of Exercise.

 

i. Authorization of Common
Stock. The Company covenants that during the period the Warrant is outstanding, it will reserve from its authorized and unissued
Common Stock a sufficient number of shares to provide for the issuance of all of the shares of Common Stock issuable upon the exercise
of the Warrant. The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers
who are charged with the duty of executing certificates to execute and issue the necessary certificates for the Warrant Shares
upon the exercise of the purchase rights under this Warrant. The Company covenants that the Warrant Shares which may be issued
upon the exercise of the purchase rights represented by this Warrant will, upon exercise of the purchase rights represented by
this Warrant, be duly authorized, validly issued, fully paid and non-assessable and free from all taxes, liens and charges in respect
of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously with such issue). The Company will
take all such reasonable action as may be necessary to assure that the Warrant Shares may be issued as provided herein without
violation of any applicable law or regulation, or of any requirements of the Trading Market upon which the Common Stock may be
listed.

 

ii. Delivery of Certificates
Upon Exercise. Certificates for the Warrant Shares purchased hereunder shall be delivered to the Holder within three (3) Trading
Days from the delivery to the Company of the Notice of Exercise Form, surrender of this Warrant and payment of the Exercise Price
as set forth above (“Warrant Delivery Date”). This Warrant shall be deemed to have been exercised on the date
the payment of the principal amount is received by the Company. The Warrant Shares shall be deemed to have been issued, and the
Holder or any other person so designated to be named therein shall be deemed to have become a holder of record of such security
for all purposes, as of the date the Warrant has been exercised by payment to the Company of the principal amount and all taxes
required to be paid by the Holder, if any, pursuant to Section 2(c)(ii) prior to the issuance of such security, have been paid.

 

iii. Delivery of New Warrants
Upon Exercise. If this Warrant shall have been exercised in part, the Company shall, at the time of delivery of the certificate
or certificates representing the Warrant Shares, deliver to the Holder a new Warrant evidencing the rights of such Holder to purchase
the unpurchased Warrant Shares called for by this Warrant, which new Warrant shall in all other respects be identical with this
Warrant.

 

iv. Rescission Rights.
If the Company fails to deliver to the Holder a certificate or certificates representing the Warrant Shares pursuant to Section
2(c)(ii) by the Warrant Delivery Date, then the Holder will have the right to rescind such exercise.

 

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v. Charges, Taxes and Expenses.
Issuance of certificates for Warrant Shares shall be made without charge to the Holder for any issue or transfer tax or other incidental
expense in respect of the issuance of such certificate, all of which taxes and expenses shall be paid by the Company, and such
certificates shall be issued in the name of the Holder or in such name or names as may be directed by the Holder; provided,
however, that in the event certificates for Warrant Shares are to be issued in a name other than the name of the Holder,
this Warrant when surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly executed by the Holder;
and the Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental
thereto.

 

vi. Closing of Books. The
Company will not close its records in any manner which prevents the timely exercise of this Warrant, pursuant to the terms hereof.

 

Section 3. Certain Adjustments.

 

(a) Stock Dividends and Splits. If
the Company, at any time while this Warrant is outstanding: (A) pays a stock dividend or otherwise make a distribution or distributions
on shares of its Common Stock or any other equity or equity equivalent securities payable in shares of Common Stock (which, for
avoidance of doubt, shall not include any shares of Common Stock issuable by the Company pursuant to the Warrants), (B) subdivides
outstanding shares of Common Stock into a larger number of shares, (C) combines (including by way of reverse stock split) outstanding
shares of Common Stock into a smaller number of shares, or (D) issues by reclassification of shares of the Common Stock any shares
of capital stock of the Company, then in each case the Exercise Price shall be multiplied by a fraction of which the numerator
shall be the number of shares of Common Stock (excluding treasury shares, if any) outstanding before such event and of which the
denominator shall be the number of shares of Common Stock outstanding after such event. Any adjustment made pursuant to this Section
3(a) shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend
or distribution and shall become effective immediately after the effective date in the case of a subdivision, combination or reclassification.

 

(b) Fundamental Transaction. In case
of any reclassification, capital reorganization, exchange of shares, liquidation, recapitalization or change of the Common Stock
(other than as a result of a subdivision, combination, stock dividend or reclassification provided for in Section 3(a) hereof),
or in case of any consolidation or merger of the Company with or into another corporation or entity (other than a merger with a
subsidiary in which merger the Company is the continuing corporation and which does not result in any reclassification or capital
reorganization or change of the outstanding Common Stock) or in case of any sale, lease or conveyance to another corporation or
entity of all or substantially all of the assets of the Company, then the Company shall, as a condition precedent to such transaction,
cause lawful and effective provisions to be made (and duly executed documents evidencing the same from the Company or its successor
shall be delivered to the Holder) so that the Holder shall have the right thereafter upon exercise of this Warrant, to purchase
the kind and amount of shares of stock and other securities and property receivable upon such reclassification, capital reorganization,
exchange of shares, liquidation, recapitalization, change, consolidation, merger, sale or conveyance by a holder of the number
of shares of Common Stock which might have been received upon conversion of this Warrant immediately prior to such reclassification,
capital reorganization, exchange of shares, liquidation, recapitalization, change, consolidation, merger, sale or conveyance, and
in any such event, such provision shall include provision for adjustments which shall be as nearly equivalent as may be practicable
to the adjustments provided for herein. The Company shall not effect any such consolidation, merger, sale, transfer or other disposition
described above, unless prior to or simultaneously with the consummation thereof the successor corporation (if other than the Company)
resulting from such consolidation or merger or the corporation purchasing or otherwise acquiring such assets shall assume, by written
instrument executed and mailed or delivered to the Holder of this Warrant at the last address of the Holder appearing on the books
of the Company, the obligation to deliver to the Holder such shares of stock, securities, cash or properties as, in accordance
with the foregoing provisions, the Holder may be entitled to acquire. The above provisions of this paragraph shall similarly apply
to successive reorganizations, reclassifications, exchanges, liquidations, recapitalizations, changes, consolidations, mergers,
sales, transfers or other dispositions, if any.

 

    	4

    	 

    

 

(c) Calculations. All calculations
and adjustments to the Exercise Price under this Section 3 shall be made to the nearest cent or the nearest 1/100th of a share,
as the case may be. For purposes of this Section 3, the number of shares of Common Stock outstanding as of a given date shall be
the sum of the number of shares of Common Stock (excluding treasury shares, if any) outstanding.

 

(d) Notice to Holders. The Company
shall promptly give written notice of any adjustment under this Section 3 to each Holder, which notice shall include a brief statement
of the facts requiring such adjustment.

 

(e) Voluntary Adjustment By Company.
The Company may at any time during the term of this Warrant reduce the then current Exercise Price to any amount and for any period
of time deemed appropriate by the Board of Directors of the Company.

 

Section 4. Transfer of Warrant.

 

(a) Transferability. Subject to compliance
with any applicable securities laws and the conditions set forth in Sections 5(a) and 4(d) hereof and to the provisions of Section
4.1 of the Purchase Agreement, this Warrant and all rights hereunder are transferable, in whole or in part, upon surrender of this
Warrant at the principal office of the Company, together with a written assignment of this Warrant substantially in the form attached
hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable upon the making
of such transfer. Upon such surrender and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants
in the name of the assignee or assignees and in the denomination or denominations specified in such instrument of assignment, and
shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant shall promptly
be cancelled. A Warrant, if properly assigned, may be exercised by a new holder for the purchase of Warrant Shares without having
a new Warrant issued.

 

(b) New Warrants. This Warrant may
be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the Company, together with a written
notice specifying the names and denominations in which new Warrants are to be issued, signed by the Holder or its agent or attorney.
Subject to compliance with Section 4(a), as to any transfer which may be involved in such division or combination, the Company
shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined in accordance
with such notice.

 

    	5

    	 

    

 

(c) Warrant Register. The Company
shall register this Warrant, upon records to be maintained by the Company for that purpose (the “Warrant Register”),
in the name of the record Holder hereof from time to time. The Company may deem and treat the registered Holder of this Warrant
as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and for all other purposes,
absent actual notice to the contrary

 

(d) Transfer Restrictions. If, at
the time of the surrender of this Warrant in connection with any transfer of this Warrant, the transfer of this Warrant shall not
be registered pursuant to an effective registration statement under the Securities Act and under applicable state securities or
blue sky laws, the Company may require, as a condition of allowing such transfer (i) that the Holder or transferee of this Warrant,
as the case may be, furnish to the Company a written opinion of counsel (which opinion shall be in form, substance and scope customary
for opinions of counsel in comparable transactions) to the effect that such transfer may be made without registration under the
Securities Act and under applicable state securities or blue sky laws, (ii) that the holder or transferee execute and deliver to
the Company an investment letter in form and substance acceptable to the Company and (iii) that the transferee be an “accredited
investor” as defined in Rule 501(a) promulgated under the Securities Act or a “qualified institutional buyer”
as defined in Rule 144A(a) under the Securities Act.

 

Section 5. Miscellaneous.

 

(a) Title to the Warrant. Prior to
the Expiration Date and subject to compliance with applicable laws and Section 4 of this Warrant, this Warrant and all rights hereunder
are transferable, in whole or in part, at the office or agency of the Company by the Holder in person or by duly authorized attorney,
upon surrender of this Warrant together with the Assignment Form annexed hereto properly endorsed. The transferee shall sign an
investment letter in form and substance reasonably satisfactory to the Company.

 

(b) No Rights as Shareholder Until Exercise.
This Warrant does not entitle the Holder to any voting rights or other rights as a shareholder of the Company prior to the exercise
hereof. Upon the surrender of this Warrant and the payment of the aggregate Exercise Price, the Warrant Shares so purchased shall
be and be deemed to be issued to such Holder as the record owner of such shares as of the close of business on the later of the
date of such surrender or payment.

 

(c) Loss, Theft, Destruction or Mutilation
of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft,
destruction or mutilation of this Warrant or any certificate relating to the Warrant Shares, and in case of loss, theft or destruction,
of indemnity or security reasonably satisfactory to it (which, in the case of the Warrant, shall not include the posting of any
bond), and upon surrender and cancellation of such Warrant or certificate, if mutilated, the Company will make and deliver a new
Warrant or certificate of like tenor and dated as of such cancellation, in lieu of such Warrant or certificate.

 

(d) Saturdays, Sundays, Holidays, etc.
If the last or appointed day for the taking of any action or the expiration of any right required or granted herein shall be a
Saturday, Sunday or a legal holiday, then such action may be taken or such right may be exercised on the next succeeding day not
a Saturday, Sunday or legal holiday.

 

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(e) No Impairment. Except and to
the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amending
its certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or
sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this
Warrant or the Warrant Shares, but will at all times in good faith assist in the carrying out of all such terms and in the taking
of all such actions as may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant and the Warrant
Shares against impairment. Without limiting the generality of the foregoing, the Company will (a) take all such action as may be
necessary or appropriate in order that the Company may validly and legally issue fully paid and non-assessable Warrant Shares upon
the exercise of this Warrant and (b) use commercially reasonable efforts to obtain all such authorizations, exemptions or consents
from any public regulatory body having jurisdiction thereof as may be necessary to enable the Company to perform its obligations
under this Warrant and the Warrant Shares. Before taking any action which would result in an adjustment in the Warrant Shares for
which this Warrant is exercisable, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto,
as may be necessary from any public regulatory body or bodies having jurisdiction thereof.

 

(f) Jurisdiction. All questions concerning
the construction, validity, enforcement and interpretation of this Warrant shall be determined in accordance with the provisions
of the Purchase Agreement.

 

(g) Restrictions. The Holder acknowledges
that the Warrant Shares acquired upon the exercise of this Warrant, if not then registered, will have restrictions upon resale
imposed by state and federal securities laws.

 

(h) Non-waiver and Expenses. No course
of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate as a waiver of such right
or otherwise prejudice Holder’s rights, powers or remedies, notwithstanding the fact that all rights hereunder terminate
on the Expiration Date. If the Company willfully and knowingly fails to comply with any provision of this Warrant, which results
in any material damages to the Holder, the Company shall pay to Holder such amounts as shall be sufficient to cover any costs and
expenses including, but not limited to, reasonable attorneys’ fees, including those of appellate proceedings, incurred by
Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder.

 

(i) Notices. Any notice, request
or other document required or permitted to be given or delivered to the Holder by the Company shall be delivered in accordance
with the notice provisions of the Purchase Agreement.

 

(j) Limitation of Liability. No provision
hereof, in the absence of any affirmative action by Holder to exercise this Warrant or purchase Warrant Shares, and no enumeration
herein of the rights or privileges of Holder, shall give rise to any liability of Holder for the purchase price of any Common Stock
or as a stockholder of the Company, whether such liability is asserted by the Company or by creditors of the Company.

 

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(k) Remedies. Holder, in addition
to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled to specific performance
of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation for any loss incurred
by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive the defense in any action for specific
performance that a remedy at law would be adequate.

 

(l) Successors and Assigns. Subject
to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall inure to the benefit of and be
binding upon the successors of the Company and the successors and permitted assigns of Holder. The provisions of this Warrant are
intended to be for the benefit of all Holders from time to time of this Warrant and shall be enforceable by any such Holder.

 

(m) Modification. The provisions
of the Warrants may from time to time be amended, modified or waived, if such amendment, modification or waiver is in writing and
consented to by the Company and holders of at lease a majority of the outstanding Warrants (based on the number of Warrant Shares
underlying the Warrants). Any such amendment, modification or wavier shall be binding upon the Holder of this Warrant regardless
of whether the Holder consented to such amendment, modification or wavier; provided that nothing shall prevent the Company and
the Holder from consenting to amendments, modifications or waivers to this Warrant that affect or are applicable to the Holder
only.

 

(n) Severability. Wherever possible,
each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable law, but if any
provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent
of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions of this Warrant.

 

(o) Headings. The headings used in
this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of this Warrant.

 

*     *     *

 

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IN WITNESS WHEREOF, the Company has caused
this Warrant to be executed by its officer thereunto duly authorized.

 

Dated: _________, 2011

 

	 	ATOSSA GENETICS, INC.
	 	 
	 	By: 	 
	 	 	Name: Steven C. Quay
	 	 	Title: Chairman and Chief Executive Officer

 

[Signature Page to Warrant to Purchase Common
Stock]

 

    	9

    	 

    

 

Exhibit A

 

NOTICE OF EXERCISE

 

TO: ATOSSA GENETICS, INC.

 

(1) The undersigned hereby elects to purchase shares of Common
Stock of Atossa Genetics, Inc. pursuant to the terms of the attached Warrant, and tenders herewith payment in full, together with
all applicable transfer tax;

 

(2) Payment shall take the form of (check applicable box):

 

£
lawful money of the United States; or

 

 £
if Cashless Exercise is permitted in accordance with Section 2(b), the cancellation of Warrant Shares, in accordance with
the formula set forth in subsection 2(b).

 

(3) Please issue a certificate or certificates representing
said Common Stock in the name of the undersigned or in such other name as is specified below (please include social security or
other tax identification number):

 

	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

(4) The Common Stock shall be delivered to the following:

 

	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

(5) The undersigned is an “accredited investor”
as defined in Regulation D promulgated under the Securities Act of 1933, as amended.

 

[SIGNATURE OF HOLDER]

 

	Name of Investing Entity or Individual: 	 	 

 

	Signature of Authorized Signatory of Investing Entity or Individual:	 	 

 

	Name of Authorized Signatory:	 	 

 

	Title of Authorized Signatory:	 	 

 

	Date:	 	 

 

    	10

    	 

    

 

ASSIGNMENT FORM

 

(To assign the foregoing warrant, execute

 

this form and supply required information.

 

Do not use this form to exercise the warrant.)

 

FOR VALUE RECEIVED, the foregoing Warrant and all rights evidenced
thereby are hereby assigned to

 

	 	 	 	 
	 	 	whose address is	 
	 	 	 	 
	 	 
	 	 
	 	 
	.	 
	 	 
	 	 
	 	 
	 	 

  

Dated:

 

	 	 	 	 	 	 	 
	 	 	Holder’s Signature:	 	 	 	 
	 	 	 	 
	 	 	Holder’s Address:	 	 	 	 
	 	 	 	 
	 	 	 	 	 	 	 

 

Signature Guaranteed:

 

NOTE: The signature to this Assignment Form must correspond
with the name as it appears on the face of the Warrant, without alteration or enlargement or any change whatsoever, and must be
guaranteed by a bank or trust company. Officers of corporations and those acting in a fiduciary or other representative capacity
should file proper evidence of authority to assign the foregoing Warrant.

 

    	11THESE SECURITIES HAVE NOT BEEN REGISTERED
WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION
UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR
SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM,
OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE
SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY
ACCEPTABLE TO THE COMPANY. THIS SECURITY AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS SECURITY MAY BE PLEDGED IN CONNECTION
WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES.

 

WARRANT TO PURCHASE COMMON STOCK

 

OF

 

ATOSSA GENETICS, INC.

 

ATOS - 

 

THIS WARRANT (the “Warrant”) certifies that,
for value received, [●] (the “Holder”), is entitled, upon the terms and subject to the limitations on
exercise and the conditions hereinafter set forth, at any time commencing after the earliest of the following to occur (the “Initial
Exercise Date”): (a) six months from the closing of the Company Initial Public Offering (defined below) (b) the closing
of a “fundamental transaction” (defined below), or (c) closing of a “significant private financing” (defined
below). This Warrant shall expire and no longer be exercisable as of 5:00 p.m. (New York City time) on the fifth anniversary of
the Initial Exercise Date (the “Expiration Date”), but not thereafter, and shall entitle the Holder to subscribe
for and purchase from Atossa Genetics, Inc., a Delaware corporation (the “Company”), up to [●] shares
of the Common Stock of the Company (the “Warrant Shares”) at a purchase price equal to $1.25 per share (the
“Exercise Price”). This Warrant has been issued pursuant to Section 3.c of that certain engagement letter, dated
February 25, 2011, (the “Engagement Letter”) by and between the Company and Dawson James Securities, Inc. (“Dawson
James”). This Warrant is similar in kind to the series of warrants to purchase Common Stock issued by the Company pursuant
to that certain Securities Purchase Agreement, by and between the Company and the purchasers signatory thereto, wherein Dawson
James acted as the placement agent (the “Purchase Agreement”). This Warrant, together with the warrants issued
pursuant to the Purchase Agreement, are referred to herein, collectively, as the “Warrants.”

 

Section 1. Definitions. Capitalized terms used
and not otherwise defined herein shall have the meanings set forth in the Purchase Agreement.

 

    	1

    	 

    

 

(a) A “significant private financing”
means a sale of the Company’s securities primarily for capital raising purposes in a transaction or series of related transactions
that is exempt from registration under the Securities Act and in which the Company issues securities representing at least 20%
of the then outstanding capital stock of the Company, calculated assuming the conversion or exercise of all outstanding options,
warrants and other securities convertible into or exercisable for capital stock of the Company.

 

(b) The term “Company Initial Public
Offering” means the initial public offering of the Company’s Common Stock, registered under the Securities Act.

 

Section 2. Exercise.

 

(a) Exercise of Warrant. Exercise
of the purchase rights represented by this Warrant may be made at any time or times on or after the Initial Exercise Date and on
or before the Expiration Date by delivery to the Company of a duly executed facsimile copy of the Notice of Exercise Form annexed
hereto as Exhibit A and the payment of the Exercise Price for the Warrant Shares so purchased by wire transfer or cashier’s
check drawn on a United States bank. Upon exercise of the Warrant, the Company shall issue and deliver to the person entitled to
receive the same, a certificate or certificates for the number of Warrant Shares issuable upon such exercise. The Company will
provide written notice to the Holder of the date of closing of the Company Initial Public Offering and the resulting Initial Exercise
Date and Expiration Date.

 

(b) Cashless Exercise. In the event
that the Company’s common stock is then traded on a securities exchange, and a Registration Statement covering the resale
of the Warrant Shares as contemplated by the Purchase Agreement (a “Registration Statement”), has not been filed
by the Company and declared effective by the SEC, or such Registration Statement has been filed but is no longer effective, then
the Holder may exchange this Warrant on a cashless basis, in whole or in part (a “Cashless Exercise”), for the
number of Warrant Shares determined in accordance with this Section 2(b) by delivery to the Company of a duly executed facsimile
copy of the Notice of Exercise Form annexed hereto indicating the Holder’s intent to effect such exchange, provided,
however, that the right of a Holder to effect a Cashless Exercise pursuant to this Section 2(b) shall terminate at such
time as a Registration Statement is first declared effective by the SEC. In connection with any Cashless Exercise, the Company
shall issue to the Holder the number of Warrant Shares equal to the quotient obtained by dividing

[(A-B) (X)] by (A), where:

 

	(A)	 	=	 	the average closing stock price of the Company’s common stock on its principal stock exchange for the five trading days immediately preceding the date of such election;
	 	 	 	 	 
	(B)	 	=	 	the Exercise Price; and
	 	 	 	 	 
	(X)	 	=	 	the number of shares covered by the Warrant which the Holder has elected to exchange pursuant to this Section 2(b).

 

    	2

    	 

    

 

(c) Mechanics of Exercise.

 

i. Authorization of Common
Stock. The Company covenants that during the period the Warrant is outstanding, it will reserve from its authorized and unissued
Common Stock a sufficient number of shares to provide for the issuance of all of the shares of Common Stock issuable upon the exercise
of the Warrant. The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers
who are charged with the duty of executing certificates to execute and issue the necessary certificates for the Warrant Shares
upon the exercise of the purchase rights under this Warrant. The Company covenants that the Warrant Shares which may be issued
upon the exercise of the purchase rights represented by this Warrant will, upon exercise of the purchase rights represented by
this Warrant, be duly authorized, validly issued, fully paid and non-assessable and free from all taxes, liens and charges in respect
of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously with such issue). The Company will
take all such reasonable action as may be necessary to assure that the Warrant Shares may be issued as provided herein without
violation of any applicable law or regulation, or of any requirements of the trading market upon which the Common Stock may be
listed.

 

ii. Delivery of Certificates
Upon Exercise. Certificates for the Warrant Shares purchased hereunder shall be delivered to the Holder within three (3) trading
days from the delivery to the Company of the Notice of Exercise Form, surrender of this Warrant and payment of the Exercise Price
as set forth above (“Warrant Delivery Date”). This Warrant shall be deemed to have been exercised on the date
the payment of the principal amount is received by the Company. The Warrant Shares shall be deemed to have been issued, and the
Holder or any other person so designated to be named therein shall be deemed to have become a holder of record of such security
for all purposes, as of the date the Warrant has been exercised by payment to the Company of the principal amount and all taxes
required to be paid by the Holder, if any, pursuant to Section 2(c)(ii) prior to the issuance of such security, have been paid.

 

iii. Delivery of New Warrants
Upon Exercise. If this Warrant shall have been exercised in part, the Company shall, at the time of delivery of the certificate
or certificates representing the Warrant Shares, deliver to the Holder a new Warrant evidencing the rights of such Holder to purchase
the unpurchased Warrant Shares called for by this Warrant, which new Warrant shall in all other respects be identical with this
Warrant.

 

iv. Rescission Rights.
If the Company fails to deliver to the Holder a certificate or certificates representing the Warrant Shares pursuant to Section
2(c)(ii) by the Warrant Delivery Date, then the Holder will have the right to rescind such exercise.

 

v. Charges, Taxes and Expenses.
Issuance of certificates for Warrant Shares shall be made without charge to the Holder for any issue or transfer tax or other incidental
expense in respect of the issuance of such certificate, all of which taxes and expenses shall be paid by the Company, and such
certificates shall be issued in the name of the Holder or in such name or names as may be directed by the Holder; provided,
however, that in the event certificates for Warrant Shares are to be issued in a name other than the name of the Holder,
this Warrant when surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly executed by the Holder;
and the Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental
thereto.

 

    	3

    	 

    

 

vi. Closing of Books. The
Company will not close its records in any manner which prevents the timely exercise of this Warrant, pursuant to the terms hereof.

 

Section 3. Certain Adjustments.

 

(a) Stock Dividends and Splits. If
the Company, at any time while this Warrant is outstanding: (A) pays a stock dividend or otherwise make a distribution or distributions
on shares of its Common Stock or any other equity or equity equivalent securities payable in shares of Common Stock (which, for
avoidance of doubt, shall not include any shares of Common Stock issuable by the Company pursuant to the Warrants), (B) subdivides
outstanding shares of Common Stock into a larger number of shares, (C) combines (including by way of reverse stock split) outstanding
shares of Common Stock into a smaller number of shares, or (D) issues by reclassification of shares of the Common Stock any shares
of capital stock of the Company, then in each case the Exercise Price shall be multiplied by a fraction of which the numerator
shall be the number of shares of Common Stock (excluding treasury shares, if any) outstanding before such event and of which the
denominator shall be the number of shares of Common Stock outstanding after such event. Any adjustment made pursuant to this Section
3(a) shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend
or distribution and shall become effective immediately after the effective date in the case of a subdivision, combination or reclassification.

 

(b) Fundamental Transaction. In case
of any reclassification, capital reorganization, exchange of shares, liquidation, recapitalization or change of the Common Stock
(other than as a result of a subdivision, combination, stock dividend or reclassification provided for in Section 3(a) hereof),
or in case of any consolidation or merger of the Company with or into another corporation or entity (other than a merger with a
subsidiary in which merger the Company is the continuing corporation and which does not result in any reclassification or capital
reorganization or change of the outstanding Common Stock) or in case of any sale, lease or conveyance to another corporation or
entity of all or substantially all of the assets of the Company, then the Company shall, as a condition precedent to such transaction,
cause lawful and effective provisions to be made (and duly executed documents evidencing the same from the Company or its successor
shall be delivered to the Holder) so that the Holder shall have the right thereafter upon exercise of this Warrant, to purchase
the kind and amount of shares of stock and other securities and property receivable upon such reclassification, capital reorganization,
exchange of shares, liquidation, recapitalization, change, consolidation, merger, sale or conveyance by a holder of the number
of shares of Common Stock which might have been received upon conversion of this Warrant immediately prior to such reclassification,
capital reorganization, exchange of shares, liquidation, recapitalization, change, consolidation, merger, sale or conveyance, and
in any such event, such provision shall include provision for adjustments which shall be as nearly equivalent as may be practicable
to the adjustments provided for herein. The Company shall not effect any such consolidation, merger, sale, transfer or other disposition
described above, unless prior to or simultaneously with the consummation thereof the successor corporation (if other than the Company)
resulting from such consolidation or merger or the corporation purchasing or otherwise acquiring such assets shall assume, by written
instrument executed and mailed or delivered to the Holder of this Warrant at the last address of the Holder appearing on the books
of the Company, the obligation to deliver to the Holder such shares of stock, securities, cash or properties as, in accordance
with the foregoing provisions, the Holder may be entitled to acquire. The above provisions of this paragraph shall similarly apply
to successive reorganizations, reclassifications, exchanges, liquidations, recapitalizations, changes, consolidations, mergers,
sales, transfers or other dispositions, if any.

 

    	4

    	 

    

 

(c) Calculations. All calculations
and adjustments to the Exercise Price under this Section 3 shall be made to the nearest cent or the nearest 1/100th of a share,
as the case may be. For purposes of this Section 3, the number of shares of Common Stock outstanding as of a given date shall be
the sum of the number of shares of Common Stock (excluding treasury shares, if any) outstanding.

 

(d) Notice to Holders. The Company
shall promptly give written notice of any adjustment under this Section 3 to each Holder, which notice shall include a brief statement
of the facts requiring such adjustment.

 

(e) Voluntary Adjustment By Company.
The Company may at any time during the term of this Warrant reduce the then current Exercise Price to any amount and for any period
of time deemed appropriate by the board of directors of the Company.

 

Section 4. Transfer of Warrant.

 

(a) Transferability. Subject to compliance
with any applicable securities laws and the conditions set forth in Sections 5(a) and 4(d) hereof and to the provisions of Section
4.1 of the Purchase Agreement, this Warrant and all rights hereunder are transferable, in whole or in part, upon surrender of this
Warrant at the principal office of the Company, together with a written assignment of this Warrant substantially in the form attached
hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable upon the making
of such transfer. Upon such surrender and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants
in the name of the assignee or assignees and in the denomination or denominations specified in such instrument of assignment, and
shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant shall promptly
be cancelled. A Warrant, if properly assigned, may be exercised by a new holder for the purchase of Warrant Shares without having
a new Warrant issued.

 

(b) New Warrants. This Warrant may
be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the Company, together with a written
notice specifying the names and denominations in which new Warrants are to be issued, signed by the Holder or its agent or attorney.
Subject to compliance with Section 4(a), as to any transfer which may be involved in such division or combination, the Company
shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined in accordance
with such notice.

 

(c) Warrant Register. The Company
shall register this Warrant, upon records to be maintained by the Company for that purpose (the “Warrant Register”),
in the name of the record Holder hereof from time to time. The Company may deem and treat the registered Holder of this Warrant
as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and for all other purposes,
absent actual notice to the contrary.

 

    	5

    	 

    

 

(d) Transfer Restrictions. If, at
the time of the surrender of this Warrant in connection with any transfer of this Warrant, the transfer of this Warrant shall not
be registered pursuant to an effective registration statement under the Securities Act and under applicable state securities or
blue sky laws, the Company may require, as a condition of allowing such transfer (i) that the Holder or transferee of this Warrant,
as the case may be, furnish to the Company a written opinion of counsel (which opinion shall be in form, substance and scope customary
for opinions of counsel in comparable transactions) to the effect that such transfer may be made without registration under the
Securities Act and under applicable state securities or blue sky laws, (ii) that the holder or transferee execute and deliver to
the Company an investment letter in form and substance acceptable to the Company and (iii) that the transferee be an “accredited
investor” as defined in Rule 501(a) promulgated under the Securities Act or a “qualified institutional buyer”
as defined in Rule 144A(a) under the Securities Act.

 

Section 5. Miscellaneous.

 

(a) Title to the Warrant. Prior to
the Expiration Date and subject to compliance with applicable laws and Section 4 of this Warrant, this Warrant and all rights hereunder
are transferable, in whole or in part, at the office or agency of the Company by the Holder in person or by duly authorized attorney,
upon surrender of this Warrant together with the Assignment Form annexed hereto properly endorsed. The transferee shall sign an
investment letter in form and substance reasonably satisfactory to the Company.

 

(b) No Rights as Shareholder Until Exercise.
This Warrant does not entitle the Holder to any voting rights or other rights as a shareholder of the Company prior to the exercise
hereof. Upon the surrender of this Warrant and the payment of the aggregate Exercise Price, the Warrant Shares so purchased shall
be and be deemed to be issued to such Holder as the record owner of such shares as of the close of business on the later of the
date of such surrender or payment.

 

(c) Loss, Theft, Destruction or Mutilation
of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft,
destruction or mutilation of this Warrant or any certificate relating to the Warrant Shares, and in case of loss, theft or destruction,
of indemnity or security reasonably satisfactory to it (which, in the case of the Warrant, shall not include the posting of any
bond), and upon surrender and cancellation of such Warrant or certificate, if mutilated, the Company will make and deliver a new
Warrant or certificate of like tenor and dated as of such cancellation, in lieu of such Warrant or certificate.

 

(d) Saturdays, Sundays, Holidays, etc.
If the last or appointed day for the taking of any action or the expiration of any right required or granted herein shall be a
Saturday, Sunday or a legal holiday, then such action may be taken or such right may be exercised on the next succeeding day not
a Saturday, Sunday or legal holiday.

 

    	6

    	 

    

 

(e) No Impairment. Except and to
the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amending
its certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or
sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this
Warrant or the Warrant Shares, but will at all times in good faith assist in the carrying out of all such terms and in the taking
of all such actions as may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant and the Warrant
Shares against impairment. Without limiting the generality of the foregoing, the Company will (a) take all such action as may be
necessary or appropriate in order that the Company may validly and legally issue fully paid and non-assessable Warrant Shares upon
the exercise of this Warrant and (b) use commercially reasonable efforts to obtain all such authorizations, exemptions or consents
from any public regulatory body having jurisdiction thereof as may be necessary to enable the Company to perform its obligations
under this Warrant and the Warrant Shares. Before taking any action which would result in an adjustment in the Warrant Shares for
which this Warrant is exercisable, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto,
as may be necessary from any public regulatory body or bodies having jurisdiction thereof.

 

(f) Jurisdiction. All questions concerning
the construction, validity, enforcement and interpretation of this Warrant shall be determined in accordance with the provisions
of the Purchase Agreement.

 

(g) Restrictions. The Holder acknowledges
that the Warrant Shares acquired upon the exercise of this Warrant, if not then registered, will have restrictions upon resale
imposed by state and federal securities laws.

 

(h) Non-waiver and Expenses. No course
of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate as a waiver of such right
or otherwise prejudice Holder’s rights, powers or remedies, notwithstanding the fact that all rights hereunder terminate
on the Expiration Date. If the Company willfully and knowingly fails to comply with any provision of this Warrant, which results
in any material damages to the Holder, the Company shall pay to Holder such amounts as shall be sufficient to cover any costs and
expenses including, but not limited to, reasonable attorneys’ fees, including those of appellate proceedings, incurred by
Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder.

 

(i) Notices. Any notice, request
or other document required or permitted to be given or delivered to the Holder by the Company shall be delivered in accordance
with the notice provisions of the Purchase Agreement and Engagement Letter.

 

(j) Limitation of Liability. No provision
hereof, in the absence of any affirmative action by Holder to exercise this Warrant or purchase Warrant Shares, and no enumeration
herein of the rights or privileges of Holder, shall give rise to any liability of Holder for the purchase price of any Common Stock
or as a stockholder of the Company, whether such liability is asserted by the Company or by creditors of the Company.

 

(k) Remedies. Holder, in addition
to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled to specific performance
of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation for any loss incurred
by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive the defense in any action for specific
performance that a remedy at law would be adequate.

 

    	7

    	 

    

 

(l) Successors and Assigns. Subject
to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall inure to the benefit of and be
binding upon the successors of the Company and the successors and permitted assigns of Holder. The provisions of this Warrant are
intended to be for the benefit of all Holders from time to time of this Warrant and shall be enforceable by any such Holder.

 

(m) Modification. The provisions
of this Warrant may from time to time be amended, modified or waived, if such amendment, modification or waiver is in writing and
consented to by the Company and holders of at least a majority of the outstanding Warrants issued pursuant to the Purchase Agreement
and Engagement Letter (based on the number of Warrant Shares underlying the Warrants). Any such amendment, modification or wavier
shall be binding upon the Holder of this Warrant regardless of whether the Holder consented to such amendment, modification or
wavier; provided that nothing shall prevent the Company and the Holder from consenting to amendments, modifications or waivers
to this Warrant that affect or are applicable to the Holder only.

 

(n) Severability. Wherever possible,
each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable law, but if any
provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent
of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions of this Warrant.

 

(o) Headings. The headings used in
this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of this Warrant.

 

*     *     *

 

    	8

    	 

    

 

IN WITNESS WHEREOF, the Company has caused
this Warrant to be executed by its officer thereunto duly authorized.

 

Dated: __________, 2011

 

	 	ATOSSA GENETICS, INC.
	 	 
	 	By:	 
	 	 	Name: Steven C. Quay
	 	 	Title: Chairman and Chief Executive Officer

 

[Signature Page to Warrant to Purchase Common Stock]

 

    	9

    	 

    

 

Exhibit A

 

NOTICE OF EXERCISE

 

TO: ATOSSA GENETICS, INC.

 

(1) The undersigned hereby elects to purchase shares of Common
Stock of Atossa Genetics, Inc. pursuant to the terms of the attached Warrant, and tenders herewith payment in full, together with
all applicable transfer tax;

 

(2) Payment shall take the form of (check applicable box):

 

 ̈
lawful money of the United States; or

 

 ̈
if Cashless Exercise is permitted in accordance with Section 2(b), the cancellation of Warrant Shares, in accordance with the formula
set forth in subsection 2(b).

 

(3) Please issue a certificate or certificates representing
said Common Stock in the name of the undersigned or in such other name as is specified below (please include social security or
other tax identification number):

 

	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

(4) The Common Stock shall be delivered to the following:

 

	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

(5) The undersigned is an “accredited investor”
as defined in Regulation D promulgated under the Securities Act of 1933, as amended.

 

[SIGNATURE OF HOLDER]

 

Name of Holder: ______________________________________________

 

Signature of Authorized Signatory of Holder: _______________________

 

Name of Authorized Signatory: __________________________________________________________

 

Title of Authorized Signatory: ___________________________________________________________

 

Date: ________________________________________________________________________________________

 

    	1

    	 

    

 

ASSIGNMENT FORM

 

(To assign the foregoing warrant, execute

 

this form and supply required information.

 

Do not use this form to exercise the warrant.)

 

FOR VALUE RECEIVED, the foregoing Warrant and all rights evidenced
thereby are hereby assigned to

 

	 	 	 	 	 	 	 
	 	 	whose address is	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 
	 	 	 
	.	 	 	 	 
	 	 	 	 	 
	 	 	 
	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

Dated:

	 	 	 	 	 	 	 
	 	 	Holder’s Signature:	 	 	 	 
	 	 	 	 
	 	 	Holder’s 

Address:	 	 	 	 

 

Signature Guaranteed:

 

NOTE: The signature to this Assignment Form must correspond
with the name as it appears on the face of the Warrant, without alteration or enlargement or any change whatsoever, and must be
guaranteed by a bank or trust company. Officers of corporations and those acting in a fiduciary or other representative capacity
should file proper evidence of authority to assign the foregoing Warrant.

 

    	2

    	 

    

 

THESE SECURITIES HAVE NOT BEEN REGISTERED
WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION
UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR
SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM,
OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE
SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY
ACCEPTABLE TO THE COMPANY. THIS SECURITY AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS SECURITY MAY BE PLEDGED IN CONNECTION
WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES.

 

WARRANT TO PURCHASE COMMON STOCK

 

OF

 

ATOSSA GENETICS, INC.

 

ATOS -

 

THIS WARRANT (the “Warrant”) certifies that,
for value received, [●] (the “Holder”), is entitled, upon the terms and subject to the limitations on
exercise and the conditions hereinafter set forth, at any time commencing after the earliest of the following to occur (the “Initial
Exercise Date”): (a) six months from the closing of the Company Initial Public Offering (defined below) (b) the closing
of a “fundamental transaction” (defined below), or (c) closing of a “significant private financing” (defined
below). This Warrant shall expire and no longer be exercisable as of 5:00 p.m. (New York City time) on the fifth anniversary of
the Initial Exercise Date (the “Expiration Date”), but not thereafter, and shall entitle the Holder to subscribe
for and purchase from Atossa Genetics, Inc., a Delaware corporation (the “Company”), up to [●] shares
of the Common Stock of the Company (the “Warrant Shares”) at a purchase price equal to $1.60 per share (the
“Exercise Price”). This Warrant has been issued pursuant to Section 3.c of that certain engagement letter, dated
February 25, 2011, (the “Engagement Letter”) by and between the Company and Dawson James Securities, Inc. (“Dawson
James”). This Warrant is similar in kind to the series of warrants to purchase Common Stock issued by the Company pursuant
to that certain Securities Purchase Agreement, by and between the Company and the purchasers signatory thereto, wherein Dawson
James acted as the placement agent (the “Purchase Agreement”). This Warrant, together with the warrants issued
pursuant to the Purchase Agreement, are referred to herein, collectively, as the “Warrants.”

 

Section 1. Definitions. Capitalized terms used
and not otherwise defined herein shall have the meanings set forth in the Purchase Agreement.

 

    	3

    	 

    

 

(a) A “significant private financing”
means a sale of the Company’s securities primarily for capital raising purposes in a transaction or series of related transactions
that is exempt from registration under the Securities Act and in which the Company issues securities representing at least 20%
of the then outstanding capital stock of the Company, calculated assuming the conversion or exercise of all outstanding options,
warrants and other securities convertible into or exercisable for capital stock of the Company.

 

(b) The term “Company Initial Public
Offering” means the initial public offering of the Company’s Common Stock, registered under the Securities Act.

 

Section 2. Exercise.

 

(a) Exercise of Warrant. Exercise
of the purchase rights represented by this Warrant may be made at any time or times on or after the Initial Exercise Date and on
or before the Expiration Date by delivery to the Company of a duly executed facsimile copy of the Notice of Exercise Form annexed
hereto as Exhibit A and the payment of the Exercise Price for the Warrant Shares so purchased by wire transfer or cashier’s
check drawn on a United States bank. Upon exercise of the Warrant, the Company shall issue and deliver to the person entitled to
receive the same, a certificate or certificates for the number of Warrant Shares issuable upon such exercise. The Company will
provide written notice to the Holder of the date of closing of the Company Initial Public Offering and the resulting Initial Exercise
Date and Expiration Date.

 

(b) Cashless Exercise. In the event
that the Company’s common stock is then traded on a securities exchange, and a Registration Statement covering the resale
of the Warrant Shares as contemplated by the Purchase Agreement (a “Registration Statement”), has not been filed
by the Company and declared effective by the SEC, or such Registration Statement has been filed but is no longer effective, then
the Holder may exchange this Warrant on a cashless basis, in whole or in part (a “Cashless Exercise”), for the
number of Warrant Shares determined in accordance with this Section 2(b) by delivery to the Company of a duly executed facsimile
copy of the Notice of Exercise Form annexed hereto indicating the Holder’s intent to effect such exchange, provided,
however, that the right of a Holder to effect a Cashless Exercise pursuant to this Section 2(b) shall terminate at such
time as a Registration Statement is first declared effective by the SEC. In connection with any Cashless Exercise, the Company
shall issue to the Holder the number of Warrant Shares equal to the quotient obtained by dividing

[(A-B) (X)] by (A), where:

 

	(A)	 	=	 	the average closing stock price of the Company’s common stock on its principal stock exchange for the five trading days immediately preceding the date of such election;
	 	 	 	 	 
	(B)	 	=	 	the Exercise Price; and
	 	 	 	 	 
	(X)	 	=	 	the number of shares covered by the Warrant which the Holder has elected to exchange pursuant to this Section 2(b).

 

    	4

    	 

    

 

(c) Mechanics of Exercise.

 

i. Authorization of Common
Stock. The Company covenants that during the period the Warrant is outstanding, it will reserve from its authorized and unissued
Common Stock a sufficient number of shares to provide for the issuance of all of the shares of Common Stock issuable upon the exercise
of the Warrant. The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers
who are charged with the duty of executing certificates to execute and issue the necessary certificates for the Warrant Shares
upon the exercise of the purchase rights under this Warrant. The Company covenants that the Warrant Shares which may be issued
upon the exercise of the purchase rights represented by this Warrant will, upon exercise of the purchase rights represented by
this Warrant, be duly authorized, validly issued, fully paid and non-assessable and free from all taxes, liens and charges in respect
of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously with such issue). The Company will
take all such reasonable action as may be necessary to assure that the Warrant Shares may be issued as provided herein without
violation of any applicable law or regulation, or of any requirements of the trading market upon which the Common Stock may be
listed.

 

ii. Delivery of Certificates
Upon Exercise. Certificates for the Warrant Shares purchased hereunder shall be delivered to the Holder within three (3) trading
days from the delivery to the Company of the Notice of Exercise Form, surrender of this Warrant and payment of the Exercise Price
as set forth above (“Warrant Delivery Date”). This Warrant shall be deemed to have been exercised on the date
the payment of the principal amount is received by the Company. The Warrant Shares shall be deemed to have been issued, and the
Holder or any other person so designated to be named therein shall be deemed to have become a holder of record of such security
for all purposes, as of the date the Warrant has been exercised by payment to the Company of the principal amount and all taxes
required to be paid by the Holder, if any, pursuant to Section 2(c)(ii) prior to the issuance of such security, have been paid.

 

iii. Delivery of New Warrants
Upon Exercise. If this Warrant shall have been exercised in part, the Company shall, at the time of delivery of the certificate
or certificates representing the Warrant Shares, deliver to the Holder a new Warrant evidencing the rights of such Holder to purchase
the unpurchased Warrant Shares called for by this Warrant, which new Warrant shall in all other respects be identical with this
Warrant.

 

iv. Rescission Rights.
If the Company fails to deliver to the Holder a certificate or certificates representing the Warrant Shares pursuant to Section
2(c)(ii) by the Warrant Delivery Date, then the Holder will have the right to rescind such exercise.

 

v. Charges, Taxes and Expenses.
Issuance of certificates for Warrant Shares shall be made without charge to the Holder for any issue or transfer tax or other incidental
expense in respect of the issuance of such certificate, all of which taxes and expenses shall be paid by the Company, and such
certificates shall be issued in the name of the Holder or in such name or names as may be directed by the Holder; provided,
however, that in the event certificates for Warrant Shares are to be issued in a name other than the name of the Holder,
this Warrant when surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly executed by the Holder;
and the Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental
thereto.

 

    	5

    	 

    

 

vi. Closing of Books. The
Company will not close its records in any manner which prevents the timely exercise of this Warrant, pursuant to the terms hereof.

 

Section 3. Certain Adjustments.

 

(a) Stock Dividends and Splits. If
the Company, at any time while this Warrant is outstanding: (A) pays a stock dividend or otherwise make a distribution or distributions
on shares of its Common Stock or any other equity or equity equivalent securities payable in shares of Common Stock (which, for
avoidance of doubt, shall not include any shares of Common Stock issuable by the Company pursuant to the Warrants), (B) subdivides
outstanding shares of Common Stock into a larger number of shares, (C) combines (including by way of reverse stock split) outstanding
shares of Common Stock into a smaller number of shares, or (D) issues by reclassification of shares of the Common Stock any shares
of capital stock of the Company, then in each case the Exercise Price shall be multiplied by a fraction of which the numerator
shall be the number of shares of Common Stock (excluding treasury shares, if any) outstanding before such event and of which the
denominator shall be the number of shares of Common Stock outstanding after such event. Any adjustment made pursuant to this Section
3(a) shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend
or distribution and shall become effective immediately after the effective date in the case of a subdivision, combination or reclassification.

 

(b) Fundamental Transaction. In case
of any reclassification, capital reorganization, exchange of shares, liquidation, recapitalization or change of the Common Stock
(other than as a result of a subdivision, combination, stock dividend or reclassification provided for in Section 3(a) hereof),
or in case of any consolidation or merger of the Company with or into another corporation or entity (other than a merger with a
subsidiary in which merger the Company is the continuing corporation and which does not result in any reclassification or capital
reorganization or change of the outstanding Common Stock) or in case of any sale, lease or conveyance to another corporation or
entity of all or substantially all of the assets of the Company, then the Company shall, as a condition precedent to such transaction,
cause lawful and effective provisions to be made (and duly executed documents evidencing the same from the Company or its successor
shall be delivered to the Holder) so that the Holder shall have the right thereafter upon exercise of this Warrant, to purchase
the kind and amount of shares of stock and other securities and property receivable upon such reclassification, capital reorganization,
exchange of shares, liquidation, recapitalization, change, consolidation, merger, sale or conveyance by a holder of the number
of shares of Common Stock which might have been received upon conversion of this Warrant immediately prior to such reclassification,
capital reorganization, exchange of shares, liquidation, recapitalization, change, consolidation, merger, sale or conveyance, and
in any such event, such provision shall include provision for adjustments which shall be as nearly equivalent as may be practicable
to the adjustments provided for herein. The Company shall not effect any such consolidation, merger, sale, transfer or other disposition
described above, unless prior to or simultaneously with the consummation thereof the successor corporation (if other than the Company)
resulting from such consolidation or merger or the corporation purchasing or otherwise acquiring such assets shall assume, by written
instrument executed and mailed or delivered to the Holder of this Warrant at the last address of the Holder appearing on the books
of the Company, the obligation to deliver to the Holder such shares of stock, securities, cash or properties as, in accordance
with the foregoing provisions, the Holder may be entitled to acquire. The above provisions of this paragraph shall similarly apply
to successive reorganizations, reclassifications, exchanges, liquidations, recapitalizations, changes, consolidations, mergers,
sales, transfers or other dispositions, if any.

 

    	6

    	 

    

 

(c) Calculations. All calculations
and adjustments to the Exercise Price under this Section 3 shall be made to the nearest cent or the nearest 1/100th of a share,
as the case may be. For purposes of this Section 3, the number of shares of Common Stock outstanding as of a given date shall be
the sum of the number of shares of Common Stock (excluding treasury shares, if any) outstanding.

 

(d) Notice to Holders. The Company
shall promptly give written notice of any adjustment under this Section 3 to each Holder, which notice shall include a brief statement
of the facts requiring such adjustment.

 

(e) Voluntary Adjustment By Company.
The Company may at any time during the term of this Warrant reduce the then current Exercise Price to any amount and for any period
of time deemed appropriate by the board of directors of the Company.

 

Section 4. Transfer of Warrant.

 

(a) Transferability. Subject to compliance
with any applicable securities laws and the conditions set forth in Sections 5(a) and 4(d) hereof and to the provisions of Section
4.1 of the Purchase Agreement, this Warrant and all rights hereunder are transferable, in whole or in part, upon surrender of this
Warrant at the principal office of the Company, together with a written assignment of this Warrant substantially in the form attached
hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable upon the making
of such transfer. Upon such surrender and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants
in the name of the assignee or assignees and in the denomination or denominations specified in such instrument of assignment, and
shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant shall promptly
be cancelled. A Warrant, if properly assigned, may be exercised by a new holder for the purchase of Warrant Shares without having
a new Warrant issued.

 

(b) New Warrants. This Warrant may
be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the Company, together with a written
notice specifying the names and denominations in which new Warrants are to be issued, signed by the Holder or its agent or attorney.
Subject to compliance with Section 4(a), as to any transfer which may be involved in such division or combination, the Company
shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined in accordance
with such notice.

 

    	7

    	 

    

 

(c) Warrant Register. The Company
shall register this Warrant, upon records to be maintained by the Company for that purpose (the “Warrant Register”),
in the name of the record Holder hereof from time to time. The Company may deem and treat the registered Holder of this Warrant
as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and for all other purposes,
absent actual notice to the contrary.

 

(d) Transfer Restrictions. If, at
the time of the surrender of this Warrant in connection with any transfer of this Warrant, the transfer of this Warrant shall not
be registered pursuant to an effective registration statement under the Securities Act and under applicable state securities or
blue sky laws, the Company may require, as a condition of allowing such transfer (i) that the Holder or transferee of this Warrant,
as the case may be, furnish to the Company a written opinion of counsel (which opinion shall be in form, substance and scope customary
for opinions of counsel in comparable transactions) to the effect that such transfer may be made without registration under the
Securities Act and under applicable state securities or blue sky laws, (ii) that the holder or transferee execute and deliver to
the Company an investment letter in form and substance acceptable to the Company and (iii) that the transferee be an “accredited
investor” as defined in Rule 501(a) promulgated under the Securities Act or a “qualified institutional buyer”
as defined in Rule 144A(a) under the Securities Act.

 

Section 5. Miscellaneous.

 

(a) Title to the Warrant. Prior to
the Expiration Date and subject to compliance with applicable laws and Section 4 of this Warrant, this Warrant and all rights hereunder
are transferable, in whole or in part, at the office or agency of the Company by the Holder in person or by duly authorized attorney,
upon surrender of this Warrant together with the Assignment Form annexed hereto properly endorsed. The transferee shall sign an
investment letter in form and substance reasonably satisfactory to the Company.

 

(b) No Rights as Shareholder Until Exercise.
This Warrant does not entitle the Holder to any voting rights or other rights as a shareholder of the Company prior to the exercise
hereof. Upon the surrender of this Warrant and the payment of the aggregate Exercise Price, the Warrant Shares so purchased shall
be and be deemed to be issued to such Holder as the record owner of such shares as of the close of business on the later of the
date of such surrender or payment.

 

(c) Loss, Theft, Destruction or Mutilation
of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft,
destruction or mutilation of this Warrant or any certificate relating to the Warrant Shares, and in case of loss, theft or destruction,
of indemnity or security reasonably satisfactory to it (which, in the case of the Warrant, shall not include the posting of any
bond), and upon surrender and cancellation of such Warrant or certificate, if mutilated, the Company will make and deliver a new
Warrant or certificate of like tenor and dated as of such cancellation, in lieu of such Warrant or certificate.

 

(d) Saturdays, Sundays, Holidays, etc.
If the last or appointed day for the taking of any action or the expiration of any right required or granted herein shall be a
Saturday, Sunday or a legal holiday, then such action may be taken or such right may be exercised on the next succeeding day not
a Saturday, Sunday or legal holiday.

 

    	8

    	 

    

 

(e) No Impairment. Except and to
the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amending
its certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or
sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this
Warrant or the Warrant Shares, but will at all times in good faith assist in the carrying out of all such terms and in the taking
of all such actions as may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant and the Warrant
Shares against impairment. Without limiting the generality of the foregoing, the Company will (a) take all such action as may be
necessary or appropriate in order that the Company may validly and legally issue fully paid and non-assessable Warrant Shares upon
the exercise of this Warrant and (b) use commercially reasonable efforts to obtain all such authorizations, exemptions or consents
from any public regulatory body having jurisdiction thereof as may be necessary to enable the Company to perform its obligations
under this Warrant and the Warrant Shares. Before taking any action which would result in an adjustment in the Warrant Shares for
which this Warrant is exercisable, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto,
as may be necessary from any public regulatory body or bodies having jurisdiction thereof.

 

(f) Jurisdiction. All questions concerning
the construction, validity, enforcement and interpretation of this Warrant shall be determined in accordance with the provisions
of the Purchase Agreement.

 

(g) Restrictions. The Holder acknowledges
that the Warrant Shares acquired upon the exercise of this Warrant, if not then registered, will have restrictions upon resale
imposed by state and federal securities laws.

 

(h) Non-waiver and Expenses. No course
of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate as a waiver of such right
or otherwise prejudice Holder’s rights, powers or remedies, notwithstanding the fact that all rights hereunder terminate
on the Expiration Date. If the Company willfully and knowingly fails to comply with any provision of this Warrant, which results
in any material damages to the Holder, the Company shall pay to Holder such amounts as shall be sufficient to cover any costs and
expenses including, but not limited to, reasonable attorneys’ fees, including those of appellate proceedings, incurred by
Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder.

 

(i) Notices. Any notice, request
or other document required or permitted to be given or delivered to the Holder by the Company shall be delivered in accordance
with the notice provisions of the Purchase Agreement and Engagement Letter.

 

(j) Limitation of Liability. No provision
hereof, in the absence of any affirmative action by Holder to exercise this Warrant or purchase Warrant Shares, and no enumeration
herein of the rights or privileges of Holder, shall give rise to any liability of Holder for the purchase price of any Common Stock
or as a stockholder of the Company, whether such liability is asserted by the Company or by creditors of the Company.

 

(k) Remedies. Holder, in addition
to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled to specific performance
of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation for any loss incurred
by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive the defense in any action for specific
performance that a remedy at law would be adequate.

 

    	9

    	 

    

 

(l) Successors and Assigns. Subject
to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall inure to the benefit of and be
binding upon the successors of the Company and the successors and permitted assigns of Holder. The provisions of this Warrant are
intended to be for the benefit of all Holders from time to time of this Warrant and shall be enforceable by any such Holder.

 

(m) Modification. The provisions
of this Warrant may from time to time be amended, modified or waived, if such amendment, modification or waiver is in writing and
consented to by the Company and holders of at least a majority of the outstanding Warrants issued pursuant to the Purchase Agreement
and Engagement Letter (based on the number of Warrant Shares underlying the Warrants). Any such amendment, modification or wavier
shall be binding upon the Holder of this Warrant regardless of whether the Holder consented to such amendment, modification or
wavier; provided that nothing shall prevent the Company and the Holder from consenting to amendments, modifications or waivers
to this Warrant that affect or are applicable to the Holder only.

 

(n) Severability. Wherever possible,
each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable law, but if any
provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent
of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions of this Warrant.

 

(o) Headings. The headings used in
this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of this Warrant.

 

*     *     *

 

    	10

    	 

    

 

IN WITNESS WHEREOF, the Company has caused
this Warrant to be executed by its officer thereunto duly authorized.

 

Dated: __________, 2011

 

	 	ATOSSA GENETICS, INC.
	 	 
	 	By:	 
	 	 	Name: Steven C. Quay
	 	 	Title: Chairman and Chief Executive Officer

 

[Signature Page to Warrant to Purchase Common Stock]

 

    	11

    	 

    

 

Exhibit A

 

NOTICE OF EXERCISE

 

TO: ATOSSA GENETICS, INC.

 

(1) The undersigned hereby elects to purchase shares of Common
Stock of Atossa Genetics, Inc. pursuant to the terms of the attached Warrant, and tenders herewith payment in full, together with
all applicable transfer tax;

 

(2) Payment shall take the form of (check applicable box):

 

£
lawful money of the United States; or

 

  £
if Cashless Exercise is permitted in accordance with Section 2(b), the cancellation of Warrant Shares, in accordance with the
formula set forth in subsection 2(b).

 

(3) Please issue a certificate or certificates representing
said Common Stock in the name of the undersigned or in such other name as is specified below (please include social security or
other tax identification number):

 

	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

(4) The Common Stock shall be delivered to the following:

 

	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

(5) The undersigned is an “accredited investor”
as defined in Regulation D promulgated under the Securities Act of 1933, as amended.

 

[SIGNATURE OF HOLDER]

 

Name of Holder: _________________________________________

 

Signature of Authorized Signatory of Holder: __________________

 

Name of Authorized Signatory: ______________________________________________________

 

Title of Authorized Signatory: _______________________________________________________

 

Date: ___________________________________________________________________________________

 

    	 

    	 

    

 

ASSIGNMENT FORM

 

(To assign the foregoing warrant, execute

 

this form and supply required information.

 

Do not use this form to exercise the warrant.)

 

FOR VALUE RECEIVED, the foregoing Warrant and all rights evidenced
thereby are hereby assigned to

 

	 	 	 	 	 	 	 
	 	 	whose address is	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 
	 	 	 
	 	 	 
	.	 	 	 	 
	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

Dated:                               

	 	 	 	 	 	 	 
	 	 	Holder’s Signature:	 	 	 	 
	 	 	 	 
	 	 	Holder’s 

Address:	 	 	 	 

 

Signature Guaranteed:

 

NOTE: The signature to this Assignment Form must correspond
with the name as it appears on the face of the Warrant, without alteration or enlargement or any change whatsoever, and must be
guaranteed by a bank or trust company. Officers of corporations and those acting in a fiduciary or other representative capacity
should file proper evidence of authority to assign the foregoing Warrant.

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