Document:

Exhibit 10.5

 

STOCK
PLEDGE AGREEMENT

 

THIS
STOCK PLEDGE AGREEMENT (this “Agreement”), dated as of May 29, 2018, by the signatories identified
on the signature page hereto (each a “Pledgor” and collectively the “Pledgors”) for
the benefit of Alpha Capital Anstalt (“Pledgee”);

 

W I T N E S S E T H:

 

WHEREAS,
Immudyne, Inc., a Delaware corporation (the “Company”) issued Secured Convertible Notes issued at or
about May 29, 2018, in the original aggregate principal amount of up to $550,000 (the “Notes”) and the
Pledgors have agreed to secure the Company’s obligations under the Notes by granting Pledgee a security interest in the
of the shares of the Company identified on the signature page hereto (the “Shares”);

 

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

 

1. Definitions.

 

The
following terms shall have the following meanings wherever used in this Agreement:

 

(a) “Event
of Default” shall have the meaning given thereto in the Notes.

 

(b) “Obligations”
shall mean all principal and interest and other payments which may be due and payable under this Agreement or the Notes.

 

(c) “Satisfaction
Date” shall mean that date on which all of the Obligations have been paid or otherwise satisfied in full.

 

2. Pledge
of the Pledged Securities/Additional Deposits.

 

(a) As
security for the due and timely payment of the Obligations, each Pledgor hereby, pledges to the Pledgee, and grants to the Pledgee
a first priority lien and security interest in the Shares (as same are constituted from time to time), together with all cash
dividends, stock dividends, interest, profits, premiums, redemptions, warrants, subscription rights, options, substitutions, exchanges
and other distributions now or hereafter made on the Shares and all cash and non-cash proceeds thereof, until the Satisfaction
Date. The Shares and all property at any time pledged to the Pledgee hereunder or in which the Pledgee is granted a security interest
(whether described herein or not) and all income therefrom and proceeds thereof are herein collectively called the “Pledged
Securities”.

 

(b) In
furtherance of the pledge hereunder, upon request from Pledgee, each Pledgor will deliver to the Pledgee the certificates representing
all of the Pledged Securities, each of which now remains in the name of the Pledgor and is accompanied by appropriate undated
stock powers duly endorsed in blank by the Pledgor.

 

     

     

    

 

(c) If,
while this Agreement is in effect, the Pledgor becomes entitled to receive or receives any stock certificate (including, without
limitation, any certificate representing a stock dividend or a distribution in connection with any reclassification, increase
or reduction of capital or issued in connection with any reorganization), option or rights, whether as an addition to, in substitution
of, or in exchange for, any Pledged Securities or otherwise, the Pledgor agrees to accept the same as agent for the Pledgee, to
hold the same in trust on behalf of and for the benefit of the Pledgee, and upon request from Pledgee, deliver the same promptly
upon receipt to the Pledgee in the exact form received, with the endorsement of the Pledgor when necessary and/or appropriate
undated stock powers duly executed in blank, to be held by the Pledgee, subject to the terms hereof, as additional collateral
security for the Obligations. Any sums paid on or in respect of the Pledged Securities on the liquidation or dissolution of the
Pledgor shall be paid over to the Pledgee, to be held by the Pledgee, subject to the terms and conditions hereof, as additional
collateral security for the Obligations.

 

(d) Until
released by the Pledgee, the Shares shall be held in book or certificated form with the restrictions on transfer related to this
agreement noted on the entry or certificate.

 

3. Retention
of the Pledged Securities.

 

(a) Except
as otherwise provided herein, the Pledgee shall have no obligation with respect to the Pledged Securities, except to use reasonable
care in the custody and preservation thereof, to the extent required by law.

 

(b) The
Pledgee shall hold the Pledged Securities in the form in which same are delivered herewith, unless and until there shall occur
an Event of Default.

 

4. Rights
of the Pledgors. Throughout the term of this Agreement, so long as no Event of Default has occurred and is continuing, the
Pledgors shall have the right to vote the Pledged Securities in all matters presented to the stockholders of the Company for vote
thereon, except in a manner inconsistent with the terms of this Agreement.

 

5. Event
of Default; Power of Attorney.

 

(a) Upon
the occurrence and during the continuance of any Event of Default, the Pledgee shall have the right to: (i) exercise all voting
and corporate rights of, and all rights of conversion, exchange, subscription or any other rights, privileges or options pertaining
to, any Pledged Securities as if the Pledgee was the absolute owner thereof, including (without limitation) the right to exchange,
at its discretion, any and all of the Pledged Securities upon the merger, consolidation, reorganization, recapitalization or other
readjustment of the Pledgors or upon the exercise by the Pledgors or the Pledgee of any right, privilege or option pertaining
to any of the Pledged Securities and, in connection therewith, to deposit and deliver any and all of the Pledged Securities with
any committee, depository, transfer agent, registrar or other designated agency on such terms and conditions as the Pledgee may
determine, all without liability except to account for property actually received by it; (ii) apply any funds or other property
received in respect of the Pledged Securities to the Obligations, and receive in its own name any and all further distributions
which may be paid in respect of the Pledged Securities, all of which shall, upon receipt by the Pledgee, be applied to the Obligations;
(iii) transfer all or any portion of the Pledged Securities (as determined by the Pledgee in its discretion) on the books of the
Company to and in the name of the Pledgee or such other person or persons as the Pledgee may designate; (iv) effect any sale,
transfer or disposition of all or any portion of the Pledged Securities and in furtherance thereof, take possession of and endorse
any and all checks, drafts, bills of exchange, money orders or other documents and instruments received on account of the Pledged
Securities; (v) collect, sue for and give acquittance for any money due on account of any of the foregoing; and (vi) take any
and all other action contemplated by this Agreement, or as otherwise permitted by law, or as the Pledgee may reasonably deem necessary
or appropriate, in order to accomplish the purposes of this Agreement.

 

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(b) In
furtherance of the foregoing powers of the Pledgee, the Pledgors hereby authorizes and appoints the Pledgee, with full powers
of substitution, as the true and lawful attorney-in-fact of the Pledgors, in his name, place and stead, to take any and all such
action as the Pledgee, in its sole discretion, may deem necessary or appropriate in furtherance of the exercise of the aforesaid
powers. Such power of attorney shall be coupled with an interest, and shall be irrevocable until the Satisfaction Date. Without
limitation of the foregoing, such power of attorney shall not in any manner be affected or impaired by reason of any act of the
Pledgors or by operation of law. Nothing herein contained, however, shall be deemed to require or impose any duty upon the Pledgee
to exercise any of the rights or powers granted herein.

 

(c) The
foregoing rights and powers granted to the Pledgee, and the foregoing power of attorney, shall be fully binding upon any person
who may acquire any beneficial interest in any of the Pledged Securities or any other property held or received by the Pledgee
hereunder.

 

6. Foreclosure;
Sale of Pledged Securities.

 

(a) Without
limitation of paragraph 5 above, in the event that the Pledgee shall make any sale or other disposition of any or all of the Pledged
Securities following an Event of Default, the Pledgee may also:

 

(i) offer
and sell all or any portion of the Pledged Securities publicly through a registered broker-dealer, or by means of a private placement
restricting the offer or sale to a limited number of prospective purchasers who meet such suitability standards as the Pledgee
and its counsel may deem appropriate, and who may be required to represent that they are purchasing Pledged Securities for investment
and not with a view to distribution;

 

(ii) sell
any or all of the Pledged Securities upon credit or for future delivery, without being in any way liable for failure of the purchaser
to pay for the subject Pledged Securities; and

 

(iii)
receive and collect the net proceeds of any sale or other disposition of any Pledged Securities, and apply same in such order
and to such of the Obligations (including the customary costs and expenses of the sale or disposition of the Pledged Securities)
as the Pledgee may, in its absolute discretion, deem appropriate.

 

(b) Upon
any sale of any of the Pledged Securities in accordance with this Agreement, the Pledgee shall have the right to assign, transfer
and deliver the subject Pledged Securities to the purchaser(s) thereof, and each such purchaser shall be entitled to hold such
Pledged Securities absolutely free from any right or claim of the Pledgors and/or any other person claiming any beneficial interest
in the Pledged Securities, including any equity of redemption (which right and all other such rights are hereby waived by the
Pledgors to the fullest extent permitted by law).

 

(c) Following
the occurrence and during the existence of an Event of Default, Pledgors will cooperate and provide such certificate, resolutions,
representations, legal opinions and all other matters necessary to facilitate a transfer or sale of any part of the Pledged Securities.

 

(d) Nothing
herein contained shall be deemed to require the Pledgee to effect any sale or disposition of any Pledged Securities at any time,
or to consummate any proposed public or private sale at the time and place at which same was initially called. It is the intention
of the parties hereto that the Pledgee shall, subject to any further conditions imposed by this Agreement, at all times following
the occurrence of an Event of Default, have the right to use or deal with the Pledged Securities as if the Pledgee were the outright
owner thereof, and to exercise any and all rights and remedies, as a secured party in possession of collateral or otherwise, under
any and all provisions of law.

 

(e) The
Pledgee may take action and exercise rights in connection with any portion of the Pledged Securities regardless of the proportion
in which Pledgor has provided Pledged Securities.

 

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7. Covenants,
Representations and Warranties.

 

In
connection with the transactions contemplated by this Agreement, and knowing that the Pledgee is and shall be relying hereon,
each Pledgor hereby covenants, represents and warrants that:

 

(a) the
Pledged Securities has been and will be duly and validly issued, is and will be fully paid and non-assessable, and is and will
be owned by the Pledgors free and clear of any and all restrictions, pledges, liens, encumbrances or other security interests
of any kind, save and except for the pledge to the Pledgee pursuant to this Agreement;

 

(b) there
are and will be no options, warrants or other rights in respect of the sale, transfer or other disposition of any of the Pledged
Securities by the Pledgors, and the Pledgors have the absolute right to pledge the Pledged Securities hereunder without the necessity
of any consent of any Person;

 

(c) neither
the execution or delivery of this Agreement, nor the consummation of the transactions contemplated hereby, nor the compliance
with or performance of this Agreement by the Pledgors, conflicts with or will result in the breach or violation of or a default
under the terms, conditions or provisions of (i) any mortgage, security agreement, indenture, evidence of indebtedness, loan or
financing agreement, or other agreement or instrument to which the Pledgors are a party or by which the Pledgors are bound, or
(ii) any provision of law, any order of any court or administrative agency, or any rule or regulation applicable to the Pledgors;

 

(d) this
Agreement has been duly executed and delivered by the Pledgors, and constitutes the legal, valid and binding obligation of the
Pledgors, enforceable against the Pledgors in accordance with its terms;

 

(e) there
are no actions, suits or proceedings pending or threatened against or affecting the Pledgor that involve or relate to the Pledged
Securities;

 

(f) upon
execution of this Agreement by Pledgors, the Pledgee shall have the senior security interest in the Pledged Securities; and

 

8. UCC
Filings. Pledgors hereby grants to Pledgee the right and authority to file an UCC Financing Statement in Nevada or any other
state to memorialize the security interest herein granted.

 

9. Return
of the Pledged Securities. To the extent that the Pledgee shall not previously have taken, acquired, sold, transferred, disposed
of or otherwise realized value on the Pledged Securities in accordance with this Agreement, at the Satisfaction Date, any security
interest in the Pledged Securities shall automatically terminate, cease to exist and be released, and the Pledgee shall forthwith
return the Pledged Securities to and in the name of the Pledgors, and file, at Pledgor’s expense, releases of Pledgee’s
security interest in the Pledged Securities or Pledgor may make such filings on its own behalf.

 

    	 	4	 

     

    

 

10. Expenses
of the Pledgee. All expenses incurred by the Pledgee (including but not limited to reasonable attorneys’ fees) in connection
with any actual or attempted sale or other disposition of Pledged Securities hereunder shall be reimbursed to the Pledgee by the
Pledgors on demand, or, at the Pledgee’s option, such expenses may be added to the Obligations and shall be payable on demand.

 

11. Further
Assurances. From time to time hereafter, each party shall take any and all such further action and shall execute and deliver
any and all such further documents and/or instruments, as any other party may request in order to accomplish the purposes of and
fulfill the parties’ obligations under this Agreement, in order to enable the Pledgee to exercise any of its rights hereunder,
and/or in order to secure more fully the Pledgee’s interest in the Pledged Securities.

 

12. Miscellaneous.

 

(a) All
notices, demands, requests, consents, approvals, and other communications required or permitted hereunder shall be in writing
and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered or certified, return
receipt requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid, or (iv) transmitted
by hand delivery, telegram, or facsimile, addressed as set forth below or to such other address as such party shall have specified
most recently by written notice. Any notice or other communication required or permitted to be given hereunder shall be deemed
effective (a) upon hand delivery or delivery by facsimile, with accurate confirmation generated by the transmitting facsimile
machine, at the address or number designated below (if delivered on a business day during normal business hours where such notice
is to be received), or the first business day following such delivery (if delivered other than on a business day during normal
business hours where such notice is to be received) or (b) on the second business day following the date of mailing by express
courier service, fully prepaid, addressed to such address, or upon actual receipt of such mailing, whichever shall first occur.
The addresses for such communications shall be: (i) if to the Pledgee to c/o Grushko & Mittman, P.C., 515 Rockaway Avenue,
Valley Stream NY 11581, and (ii) if to the Pledgors, to the address set forth on the signature page hereto.

 

(b) If
any notice to Pledgors of the sale or other disposition of Pledged Securities is required by then applicable law, five (5) business
days prior written notice (which Pledgors agrees is reasonable notice within the meaning of Section 9-504(3) of the Uniform Commercial
Code) to Pledgors of the time and place of any sale of Pledged Securities which Pledgors agree may be by private sale. The rights
granted in this section are in addition to any and all rights available to Pledgee under the Uniform Commercial Code.

 

(c) The
laws of the State of New York including but not limited to Article 9 of the Uniform Commercial Code as in effect from time to
time, shall govern the construction and enforcement of this Agreement and the rights and remedies of the parties hereto. The parties
hereby consent to the exclusive jurisdiction of all courts sitting in the State and County of New York, in connection with any
action or proceeding under or relating to this Agreement, and waive trial by jury in any such action or proceeding.

 

(d) This
Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective heirs, executors, administrators,
personal representatives, successors and permitted assigns. The Pledgors shall not, however, assign any of its or his rights or
obligations hereunder without the prior written consent of the Pledgee, and the Pledgee shall not assign its rights hereunder
without simultaneously assigning its obligations hereunder to the subject assignee. Except as otherwise referred to herein, this
Agreement, and the documents executed and delivered pursuant hereto, constitute the entire agreement between the parties relating
to the specific subject matter hereof.

 

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(e) Neither
any course of dealing between the Pledgors and the Pledgee nor any failure to exercise, or any delay in exercising, on the part
of the Pledgee, any right, power or privilege hereunder shall operate as a waiver thereof; nor shall any single or partial exercise
of any right, power or privilege operate as a waiver of any other exercise of such right, power or privilege or any other right,
power or privilege.

 

(f) The
Pledgee’s rights and remedies, whether hereunder or pursuant to any other agreements or by law or in equity, shall be cumulative
and may be exercised singly or concurrently.

 

(g) No
change, amendment, modification, waiver, assignment of rights or obligations, cancellation or discharge hereof, or of any part
hereof, shall be valid unless the Pledgee shall have consented thereto in writing.

 

(h) The
captions and paragraph headings in this Agreement are for convenience of reference only, and shall not in any way define, limit
or describe the construction, terms or provisions of this Agreement.

 

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

 

(j) If
any provision of this Agreement is held invalid or unenforceable, either in its entirety or by virtue of its scope or application
to given circumstances, such provision shall thereupon be deemed modified only to the extent necessary to render same valid, or
not applicable to given circumstances, or excised from this Agreement, as the situation may require, and this Agreement shall
be construed and enforced as if such provision had been included herein as so modified in scope or application, or had not been
included herein, as the case may be.

 

(k) This
Agreement shall be acknowledged by the Company’s transfer agent and the Pledgor shall deliver the original certificate representing
the Shares together with a medallion guaranteed stock power within five (5) business days after request by the Pledgee.

 

(l) The
Pledgors and Company hereby indemnify and hold harmless Worldwide Stock Transfer LLC from any claims related to Worldwide Stock
Transfer LLC taking instructions from the Pledgee pursuant to this Agreement.

 

[REST
OF THIS PAGE LEFT INTENTIONALLY BLANK]

 

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IN
WITNESS WHEREOF, the parties hereto have executed this Stock Pledge Agreement on and as of the date first set forth above.

 

	 	 	PLEDGORS:
	 	 	 
	JSL
    Ventures LLC	 	JOJ
    Holdings LLC
	 	 	 
	 	 	 
	By:
    Justin Schreiber	 	By:
    Justin Schreiber
	Its:
    Manager	 	Its:
    Manager
	Shares:
    2,375,000 of the Company’s Common Stock	 	Shares:
    2,430,772 of the Company’s Common Stock

	Address: 	El
    Caribe Office Building, 8th Floor
	 	53
    Calle Palmeras
	 	San
    Juan, Puerto Rico 00901

 

Immudyne,
Inc. acknowledges the foregoing pledge agreement and agrees to put a stop order on the Pledgors’ common stock until released
by Alpha Capital Anstalt.

 

Immudyne,
Inc.

 

	 	 
	By:	 
	Its:	 

 

Worldwide
Stock Transfer LLC, the transfer agent for the Company acknowledges the foregoing pledge agreement and agrees to put a stop order
on the Pledgors’ common stock until released by Alpha Capital Anstalt.

 

Worldwide
Stock Transfer, LLC

 

	 	 
	By:
    Yonah J Kopstick	 
	Title:
    Vice President	 

 

 

7Exhibit 10.6

 

SECURITY
AGREEMENT

 

This
SECURITY AGREEMENT, dated as of May 29, 2018 (this “Agreement”), is among Immudyne, Inc., a Delaware corporation
(the “Company”), each Subsidiary of the Company which shall become a party to this Agreement by execution and
delivery of the form annexed hereto as Annex A and the Subsidiary Guaranty annexed thereto (each such Subsidiary, a “Guarantor”
and together with the Company, the “Debtors”), Alpha Capital Anstalt, as collateral agent (the “Collateral
Agent”) for and the holders of the Company’s Secured Convertible Notes issued at or about May 29, 2018, in the
original aggregate principal amount of up to $550,000 and such other of the Company’s secured Convertible Notes which may
be issued in the future (collectively, the “Notes”) (collectively, the “Secured Parties”).

 

W
I T N E S S E T H:

 

WHEREAS,
pursuant to the Securities Purchase Agreement (as defined in the Notes), the Secured Parties have severally agreed to extend loans
to the Company evidenced and to be evidenced by the Notes;

 

WHEREAS,
pursuant to a certain Subsidiary Guaranty (“Guaranty”) to be dated as of the date of the Additional Debtor
Joinder, forms of which are annexed hereto as Annex A, each Guarantor agrees to guarantee and act as surety for payment of such
Notes, and other obligations of the Company;

 

WHEREAS,
in order to induce the Secured Parties to extend the loans evidenced by the Notes, each Debtor has agreed to execute and deliver
to the Collateral Agent this Agreement and to grant Collateral Agent, for the ratable benefit of the Secured Parties, a security
interest in certain property of such Debtor to secure the prompt payment, performance and discharge in full of all of the Debtors’
obligations under the Notes and Transaction Documents.

 

NOW,
THEREFORE, in consideration of the agreements herein contained and for other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows:

 

1.
Certain Definitions. As used in this Agreement, the following terms shall have the meanings set forth in this Section 1.
Terms used but not otherwise defined in this Agreement that are defined in Article 8 or 9 of the UCC (such as “account,”
“chattel paper,” “commercial tort claim,” “deposit account,” “document,” “equipment,”
“fixtures,” “general intangibles,” “goods,” “instruments,” “inventory,”
“investment property,” “letter-of-credit rights,” “proceeds” and “supporting obligations”)
shall have the respective meanings given such terms in Article 8 or 9 of the UCC, as applicable. Upper case terms shall have the
meanings attributed to them in the Securities Purchase Agreement.

 

(a)
“Collateral” means the collateral in which the Collateral Agent is granted a security interest by this Agreement
and which shall include the following personal property of the Debtors, whether presently owned or existing or hereafter acquired
or coming into existence, wherever situated, and all additions and accessions thereto and all substitutions and replacements thereof,
and all proceeds, products and accounts thereof, including, without limitation, all proceeds from the disposition, sale or transfer
of the Collateral and of insurance covering the same and of any tort claims in connection therewith, and all dividends, interest,
cash, notes, securities, equity interest or other property at any time and from time to time acquired, receivable or otherwise
distributed in respect of, or in exchange for, any or all of the Pledged Securities (as defined below):

 

(i)
All goods, including, without limitation, (A) all machinery, equipment, computers, motor vehicles, trucks, tanks, boats, ships,
appliances, furniture, special and general tools, fixtures, test and quality control devices and other equipment of every kind
and nature and wherever situated, together with all documents of title and documents representing the same, all additions and
accessions thereto, replacements therefor, all parts therefor, and all substitutes for any of the foregoing and all other items
used and useful in connection with any Debtor’s businesses and all improvements thereto; and (B) all inventory;

 

     

     

    

 

(ii)
All contract rights and other general intangibles, including, without limitation, Intellectual Property, all partnership interests,
membership interests, stock or other securities, rights under any of the Organizational Documents (as defined herein), agreements
related to the Pledged Securities (as defined herein), licenses, distribution and other agreements, computer software (whether
“off-the-shelf,” licensed from any third party or developed by any Debtor), computer software development rights,
leases, franchises, customer lists, quality control procedures, grants and rights, goodwill, trademarks, service marks, trade
styles, trade names, patents, patent applications, copyrights, and income tax refunds;

 

(iii)
All accounts, together with all instruments, all documents of title representing any of the foregoing, all rights in any merchandising,
goods, raw materials, timber cut or to be cut, oil, gas, hydrocarbons, and minerals extracted or to be extracted, equipment, motor
vehicles and trucks which any of the same may represent, and all right, title, security and guaranties with respect to each account,
including any right of stoppage in transit;

 

(iv)
All documents, letter-of-credit rights, instruments and chattel paper;

 

(v)
All commercial tort claims;

 

(vi)
All deposit accounts and all cash (whether or not deposited in such deposit accounts);

 

(vii)
All investment property;

 

(viii)
All supporting obligations;

 

(ix)
All files, records, books of account, business papers, and computer programs; and

 

(x)
the products and proceeds of all of the foregoing Collateral set forth in clauses (i)-(ix) above.

 

Without
limiting the generality of the foregoing, the “Collateral” shall include all investment property and general
intangibles respecting ownership and/or other equity interests in Guarantor, including, without limitation, the shares of capital
stock and the other equity interests, including member interests in limited liability companies listed on Schedule H hereto
(as the same may be modified from time to time pursuant to the terms hereof), and any other shares of capital stock and/or other
equity interests of any other direct or indirect Subsidiary of any Debtor obtained in the future, and, in each case, all certificates
representing such shares and/or equity interests and, in each case, all rights, options, warrants, stock, other securities and/or
equity interests that may hereafter be received, receivable or distributed in respect of, or exchanged for, any of the foregoing
and all rights arising under or in connection with the Pledged Securities, including, but not limited to, all dividends, interest
and cash.

 

Notwithstanding
the foregoing, nothing herein shall be deemed to constitute an assignment of any asset which, in the event of an assignment, becomes
void by operation of applicable law or the assignment of which is otherwise prohibited by applicable law (in each case to the
extent that such applicable law is not overridden by Sections 9-406, 9-407 and/or 9-408 of the UCC or other similar applicable
law); provided, however, that to the extent permitted by applicable law, this Agreement shall create a valid security
interest in such asset and, to the extent permitted by applicable law, this Agreement shall create a valid security interest in
the proceeds of such asset.

 

    	 	2	 

     

    

 

(b)
“Intellectual Property” means the collective reference to all rights, priorities and privileges relating to
intellectual property, whether arising under United States, multinational or foreign laws or otherwise, including, without limitation,
(i) all copyrights arising under the laws of the United States, any other country or any political subdivision thereof, whether
registered or unregistered and whether published or unpublished, all registrations and recordings thereof, and all applications
in connection therewith, including, without limitation, all registrations, recordings and applications in the United States Copyright
Office, (ii) all patents of the United States, any other country or any political subdivision thereof, all reissues and extensions
thereof, and all applications for letters patent of the United States or any other country and all divisions, continuations and
continuations-in-part thereof, (iii) all trademarks, trade names, corporate names, company names, business names, fictitious business
names, trade dress, service marks, logos, domain names and other source or business identifiers, and all goodwill associated therewith,
now existing or hereafter adopted or acquired, all registrations and recordings thereof, and all applications in connection therewith,
whether in the United States Patent and Trademark Office or in any similar office or agency of the United States, any State thereof
or any other country or any political subdivision thereof, or otherwise, and all common law rights related thereto, (iv) all trade
secrets arising under the laws of the United States, any other country or any political subdivision thereof, (v) all rights to
obtain any reissues, renewals or extensions of the foregoing, (vi) all licenses for any of the foregoing, (vii) any items included
in the definition of Intellectual Property Rights as defined in the Securities Purchase Agreement and not set forth above, and
(viii) all causes of action for infringement of the foregoing.

 

(c)
“Majority in Interest” means, at any time of determination, the holders of more than fifty percent (50%) (based
on then-outstanding principal amounts and accrued interest of Notes at the time of such determination) of the Notes.

 

(d)
“Necessary Endorsement” means undated stock powers endorsed in blank and other proper instruments of assignment
duly executed and such other instruments or documents as the Collateral Agent (as that term is defined below) may reasonably request.

 

(e)
“Obligations” means all of the liabilities and obligations (primary, secondary, direct, contingent, sole, joint
or several) due or to become due, or that are now or may be hereafter contracted or acquired, or owing to, of any Debtor to the
Secured Parties, including, without limitation, all obligations under this Agreement, the Notes, the Guaranty and obligations
under any other Transaction Document, instrument, agreement or other document executed and/or delivered in connection herewith
or therewith in each case, whether now or hereafter existing, voluntary or involuntary, direct or indirect, absolute or contingent,
liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished
and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent
all or any part of such payment is avoided or recovered directly or indirectly from any of the Secured Parties as a preference,
fraudulent transfer or otherwise as such obligations may be amended, supplemented, converted, extended or modified from time to
time. Without limiting the generality of the foregoing, the term “Obligations” shall include, without limitation:
(i) principal of, and interest on the Notes and the loans extended pursuant thereto; (ii) any and all other fees, indemnities,
costs, obligations and liabilities of the Debtors from time to time under or in connection with this Agreement, the Notes and
any other Transaction Documents, instruments, agreements or other documents executed and/or delivered in connection herewith or
therewith; and (iii) all amounts (including but not limited to post-petition interest) in respect of the foregoing that would
be payable but for the fact that the obligations to pay such amounts are unenforceable or not allowable due to the existence of
a bankruptcy, reorganization or similar proceeding involving any Debtor.

 

    	 	3	 

     

    

 

(f)
“Organizational Documents” means with respect to any Debtor, the documents by which such Debtor was organized
(such as a certificate of incorporation, certificate of limited partnership or articles of organization, and including, without
limitation, any certificates of designation for preferred stock or other forms of preferred equity) and which relate to the internal
governance of such Debtor (such as bylaws, a partnership agreement or an operating, limited liability or members agreement).

 

(g)
“Pledged Securities” shall have the meaning ascribed to such term in Section 4(i).

 

(h)
“UCC” means the Uniform Commercial Code of the State of Delaware and or any other applicable law of any state
or states which has jurisdiction with respect to all, or any portion of, the Collateral or this Agreement, from time to time.
It is the intent of the parties that defined terms in the UCC should be construed in their broadest sense so that the term “Collateral”
will be construed in its broadest sense. Accordingly, if there are, from time to time, changes to defined terms in the UCC that
broaden the definitions, they are incorporated herein and if existing definitions in the UCC are broader than the amended definitions,
the existing ones shall be controlling.

 

2.
Grant of Security Interest in Collateral. As an inducement for the Secured Parties to extend the loans as evidenced by
the Notes and to secure the complete and timely payment, performance and discharge in full, as the case may be, of all of the
Obligations, each Debtor hereby unconditionally and irrevocably pledges, grants and hypothecates to the Secured Parties a security
interest in and to, a lien upon and a right of set-off against all of their respective right, title and interest of whatsoever
kind and nature in and to, the Collateral (a “Security Interest” and, collectively, the “Security
Interests”).

 

3.
Delivery of Certain Collateral. At any time at the request of the Collateral Agent, each Debtor shall deliver or cause
to be delivered to the Collateral Agent, any and all certificates and other instruments or documents representing any of the Collateral,
in each case, together with all Necessary Endorsements.

 

4.
Representations, Warranties, Covenants and Agreements of the Debtors. Except as set forth under the corresponding section
of the disclosure schedules delivered to the Secured Parties and Collateral Agent concurrently herewith (the “Disclosure
Schedules”), which Disclosure Schedules shall be deemed a part hereof. As of the date hereof, each Debtor represents
and warrants to the Secured Parties as follows and, until the repayment in full of the Obligations, covenants and agrees with,
the Secured Parties as follows:

 

(a)
Each Debtor has the requisite corporate, partnership, limited liability company or other power and authority to enter into this
Agreement and otherwise to carry out its obligations hereunder. The execution, delivery and performance by each Debtor of this
Agreement and the filings contemplated herein have been duly authorized by all necessary action on the part of such Debtor and
no further action is required by such Debtor. This Agreement, when executed and delivered, will constitute the legal, valid and
binding obligation of each Debtor, enforceable against each Debtor in accordance with its terms except as such enforceability
may be limited by applicable bankruptcy, insolvency, reorganization and similar laws of general application relating to or affecting
the rights and remedies of creditors and by general principles of equity.

 

(b)
The Debtors have no place of business or offices where their respective books of account and records are kept (other than temporarily
at the offices of its attorneys or accountants) or places where Collateral is stored or located, except as set forth on Schedule
A attached hereto. Except as specifically set forth on Schedule A, each Debtor is the record owner of the real property
where such Collateral is located, and there exist no mortgages or other liens on any such real property or on the Collateral except
for Permitted Liens (as defined in the Securities Purchase Agreement), all of which are identified on Schedule B hereto.
Except as disclosed on Schedule A and except for Collateral to be held by the Collateral Agent, none of such Collateral
is in the possession of any consignee, bailee, warehouseman, agent or processor.

 

    	 	4	 

     

    

 

(c)
Except for Permitted Liens and except as set forth on Schedule B attached hereto, the Debtors are the sole owners of the
Collateral (except for non-exclusive licenses granted by any Debtor in the ordinary course of business), free and clear of any
liens, security interests, encumbrances, rights or claims, and are fully authorized to grant the Security Interests. Except for
Permitted Liens and other items which are all as set forth on Schedule B attached hereto, there is not on file in any governmental
or regulatory authority, agency or recording office an effective financing statement, security agreement, license or transfer
or any notice of any of the foregoing (other than those that will be filed in favor of the Secured Parties pursuant to this Agreement)
covering or affecting any of the Collateral.

 

(d)
No written claim has been received that any Collateral or any Debtor’s use of any Collateral violates the rights of any
third party. There has been no adverse decision to any Debtor’s claim of ownership rights in or exclusive rights to use
the Collateral in any jurisdiction or to any Debtor’s right to keep and maintain such Collateral in full force and effect,
and there is no proceeding involving said rights pending or, to the best knowledge of any Debtor, threatened before any court,
judicial body, administrative or regulatory agency, arbitrator or other governmental authority.

 

(e)
Each Debtor shall at all times maintain its books of account and records relating to the Collateral at its principal place of
business and its Collateral at the locations set forth on Schedule A attached hereto and may not relocate such books of
account and records or tangible Collateral except in the ordinary course of sales unless it delivers to the Secured Parties at
least 15 days prior to such relocation (i) written notice of such relocation and the new location thereof (which must be within
the United States) and (ii) evidence that appropriate financing statements under the UCC and other necessary documents have been
filed and recorded and other steps have been taken to perfect the Security Interests to create in favor of the Secured Parties
a valid, perfected and continuing perfected first priority lien in the Collateral, except as otherwise permitted hereby.

 

(f)
This Agreement creates in favor of the Secured Parties a valid security interest in the Collateral, subject only to Permitted
Liens securing the payment and performance of the Obligations. Upon making the filings described in the immediately following
paragraph, all security interests created hereunder in any Collateral that may be perfected by filing Uniform Commercial Code
financing statements shall have been duly perfected. Except for the filing of the Uniform Commercial Code financing statements
referred to in the immediately following paragraph, the recordation of the Intellectual Property Security Agreement (as defined
below) with respect to copyrights and copyright applications in the United States Copyright Office referred to in paragraph (m),
the execution and delivery of deposit account control agreements satisfying the requirements of Section 9-104(a)(2) of the UCC
with respect to each deposit account of the Debtors, and the delivery of the certificates and other instruments provided in Section
3, no action is necessary to create, perfect or protect the security interests created hereunder. Without limiting the generality
of the foregoing, except for the filing of said financing statements, the recordation of said Intellectual Property Security Agreement,
and the execution and delivery of said deposit account control agreements, no consent of any third parties and no authorization,
approval or other action by, and no notice to or filing with, any governmental authority or regulatory body is required for (i)
the execution, delivery and performance of this Agreement, (ii) the creation or perfection of the Security Interests created hereunder
in the Collateral or (iii) the enforcement of the rights of the Collateral Agent and the Secured Parties hereunder.

 

    	 	5	 

     

    

 

(g)
Each Debtor hereby authorizes the Collateral Agent to file one or more financing statements under the UCC, with respect to the
Security Interests, with the proper filing and recording agencies in any jurisdiction deemed proper by it and authorizes Collateral
Agent to take any other action in Collateral Agent’s absolute discretion to effectuate, memorialize and protect Secured
Parties’ interest and rights under this Agreement.

 

(h)
The execution, delivery and performance of this Agreement by the Debtors does not (i) violate any of the provisions of any Organizational
Documents of any Debtor or, to the knowledge of any Debtor, any judgment, decree, order or award of any court, governmental body
or arbitrator or any applicable law, rule or regulation applicable to any Debtor or (ii) to the knowledge of each Debtor, conflict
with, or constitute a default (or an event that 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 (with or without notice, lapse of time or both) of,
any agreement, credit facility, debt or other instrument (evidencing any Debtor’s debt or otherwise) or other understanding
to which such Debtor is a party or by which any property or asset of any Debtor is bound or affected. If any, all required consents
(including, without limitation, from stockholders or creditors of any Debtor) necessary for any Debtor to enter into and perform
its obligations hereunder have been obtained.

 

(i)
The capital stock and other equity interests listed on Schedule H hereto (the “Pledged Securities”)
represent all of the capital stock and other equity interests of the Guarantor, and other Subsidiaries, if any, and represent
all capital stock and other equity interests owned, directly or indirectly, by the Company. All of the Pledged Securities, if
applicable, are validly issued, fully paid and nonassessable, and the Company is the legal and beneficial owner of the Pledged
Securities, free and clear of any lien, security interest or other encumbrance except for the security interests created by this
Agreement and other Permitted Liens.

 

(j)
The ownership and other equity interests in partnerships and limited liability companies (if any) included in the Collateral (the
“Pledged Interests”) by their express terms do not provide that they are securities governed by Article 8 of
the UCC and are not held in a securities account or by any financial intermediary.

 

(k)
Except for Permitted Liens, each Debtor shall at all times maintain the liens and Security Interests provided for hereunder as
valid liens and security interests in the Collateral in favor of the Secured Parties until this Agreement and the Security Interest
hereunder shall be terminated pursuant to Section 14 hereof. Each Debtor hereby agrees to defend the same against the claims of
any and all persons and entities. Each Debtor shall safeguard and protect all Collateral for the account of the Secured Parties.
Upon request of the Collateral Agent, each Debtor will sign and deliver to the Collateral Agent on behalf of the Secured Parties
at any time or from time to time one or more financing statements pursuant to the UCC in form reasonably satisfactory to the Collateral
Agent and will pay the cost of filing the same in all public offices wherever filing is, or is deemed by the Collateral Agent
to be, necessary or desirable to effect the rights and obligations provided for herein. Without limiting the generality of the
foregoing, each Debtor shall pay all fees, taxes and other amounts necessary to maintain the Collateral and the Security Interest
hereunder, and each Debtor shall obtain and furnish to the Collateral Agent from time to time, upon demand, such releases and/or
subordinations of claims and liens (other than Permitted Liens) that may be required to maintain the priority of the Security
Interest hereunder.

 

(l)
Other than with respect to Permitted Liens, no Debtor will transfer, pledge, hypothecate, encumber, license, sell or otherwise
dispose of any of the Collateral (except for non-exclusive licenses granted by a Debtor in its ordinary course of business, sales
of inventory by a Debtor in its ordinary course of business and disposition of obsolete equipment) without the prior written consent
of the Collateral Agent such consent not to be unreasonably withheld. The foregoing notwithstanding, Debtor may replace noncash
components of the Collateral with a cash or Cash Equivalent deposit made at an institution subject to a cash account control agreement
acceptable to the Secured Parties, provided the amount of cash deposited subject to such agreement is not less than the highest
amount of the Obligations that may be outstanding pursuant to the Transaction Documents. Cash Equivalent shall mean U.S. government
Treasury bills, bank certificates of deposit, bankers' acceptances, corporate commercial paper and other money market instruments.

 

    	 	6	 

     

    

 

(m)
  Each Debtor shall keep and preserve its equipment, inventory and other tangible Collateral in good condition, repair and
order and shall not operate or locate any such Collateral (or cause to be operated or located) in any area excluded from insurance
coverage.

 

(n)
Each Debtor shall maintain with financially sound and reputable insurers, insurance with respect to the Collateral, including
Collateral hereafter acquired, against loss or damage of the kinds and in the amounts customarily insured against by entities
of established reputation having similar properties similarly situated and in such amounts as are customarily carried under similar
circumstances by other such entities and otherwise as is prudent for entities engaged in similar businesses but in any event sufficient
to cover the full replacement cost thereof. Each Debtor shall cause each insurance policy issued in connection herewith to provide,
and the insurer issuing such policy to certify to the Collateral Agent, that (a) the Collateral Agent will be named as lender
loss payee and additional insured under each such insurance policy; and (b) if such insurance is proposed to be cancelled or materially
changed for any reason whatsoever, such insurer or the Company will promptly notify the Collateral Agent. In addition, the Collateral
Agent will have the right (but no obligation) at its election to remedy any default in the payment of premiums within thirty (30)
days of notice from the Company or the insurer of any such default. If no Event of Default (as defined in the Notes) exists and
if the proceeds arising out of any claim or series of related claims do not exceed $50,000, loss payments in each instance will
be applied by the applicable Debtor to the repair and/or replacement of property with respect to which the loss was incurred to
the extent reasonably feasible, and any loss payments or the balance thereof remaining, to the extent not so applied, shall be
payable to the applicable Debtor; provided , however , that payments received by any Debtor after an Event of Default
occurs and is continuing or in excess of $50,000 for any occurrence or series of related occurrences shall be paid to the Collateral
Agent on behalf of the Secured Parties and, if received by such Debtor, shall be held in trust for the Secured Parties and immediately
paid over to the Collateral Agent unless otherwise directed in writing by the Collateral Agent. Copies of such policies or the
related certificates, in each case, naming the Collateral Agent as lender loss payee and additional insured shall be delivered
to the Collateral Agent at least annually and at the time any new policy of insurance is issued.

 

(o)
Each Debtor shall, within ten (10) days of obtaining knowledge thereof, advise Collateral Agent promptly, in sufficient detail,
of any material adverse change in the Collateral, and of the occurrence of any event which would have a material adverse effect
on the value of the Collateral or on the Secured Parties’ security interest.

 

(p)
Each Debtor shall promptly execute and deliver to the Collateral Agent such further deeds, mortgages, assignments, security agreements,
financing statements or other instruments, documents, certificates and assurances and take such further action as the Collateral
Agent may from time to time request and may in its sole discretion deem reasonably necessary to perfect, protect or enforce the
Secured Parties’ security interest in the Collateral including, without limitation, one or more deposit account control
agreements, and if applicable, the execution and delivery of a separate security agreement with respect to each Debtor’s
Intellectual Property (“Intellectual Property Security Agreement”) in which the Secured Parties have been granted
a security interest hereunder, all substantially in forms reasonably acceptable to the Collateral Agent, which Intellectual Property
Security Agreement, and other such documents and agreements other than as stated therein, shall be subject to all of the terms
and conditions hereof.

 

(q)
Each Debtor shall permit the Collateral Agent and its representatives and agents to inspect the Collateral during normal business
hours and upon reasonable prior notice, and to make copies of records pertaining to the Collateral as may be reasonably requested
by the Collateral Agent from time to time.

 

    	 	7	 

     

    

 

(r)
Each Debtor shall take commercially reasonable steps necessary to diligently pursue and seek to preserve, enforce and collect
any rights, claims, causes of action and accounts receivable in respect of the Collateral.

 

(s)
Each Debtor shall promptly notify the Secured Parties in sufficient detail upon becoming aware of any attachment, garnishment,
execution or other legal process levied against any Collateral and of any other information received by such Debtor that may materially
affect the value of the Collateral, the Security Interest or the rights and remedies of the Secured Parties hereunder.

 

(t)
All information heretofore, herein or hereafter supplied to the Secured Parties by or on behalf of any Debtor with respect to
the Collateral is accurate and complete in all material respects as of the date furnished and in light of the circumstances under
which such statements were made.

 

(u)
Each Debtor shall at all times preserve and keep in full force and effect its existence and good standing and any rights and franchises
material to its business.

 

(v)
No Debtor will change its name, type of organization, jurisdiction of organization, organizational identification number (if it
has one), legal or corporate structure, or add any new fictitious name unless it provides at least 15 days prior written notice
to the Collateral Agent of such change and, at the time of such written notification, such Debtor provides any financing statements
or fixture filings necessary to perfect and continue the perfection of the Security Interests granted and evidenced by this Agreement.

 

(w)
  Except in the ordinary course of business, no Debtor may consign any of its inventory or sell any of its inventory on bill
and hold, sale or return, sale on approval, or other conditional terms of sale without the consent of the Collateral Agent which
shall not be unreasonably withheld.

 

(x)
No Debtor may relocate its chief executive office to a new location without providing 30 days prior written notification thereof
to the Secured Parties and provided that at the time of such written notification, such Debtor provides any financing statements
necessary to perfect and continue the perfection of the Security Interests granted and evidenced by this Agreement.

 

(y)
Each Debtor was organized and remains organized solely under the laws of the state set forth next to such Debtor’s name
in Schedule D attached hereto, which Schedule D sets forth each Debtor’s organizational identification number
or, if any Debtor does not have one, states that one does not exist.

 

(z)
 

 

(i)
The actual name of each Debtor is the name set forth in Schedule D attached hereto;

 

(ii)
no Debtor has any trade names except as set forth on Schedule E attached hereto;

 

(iii)
no Debtor has used any name other than that stated in the preamble hereto or as set forth on Schedule E for the preceding
five years; and

 

(iv)
  no entity has merged into any Debtor or been acquired by any Debtor within the past five years except as set forth on Schedule
E.

 

    	 	8	 

     

    

 

(aa)
At any time that any Collateral consists of instruments, certificated securities or other items that require or permit possession
by a secured party to perfect the security interest created hereby, the applicable Debtor shall deliver such Collateral to the
Collateral Agent.

 

(bb)
During the continuance of an Event of Default, each Debtor, in its capacity as issuer, hereby agrees to comply with any and all
orders and instructions of Collateral Agent regarding the Pledged Securities consistent with the terms of this Agreement without
the further consent of any Debtor as contemplated by Section 8-106 (or any successor section) of the UCC. Further, each Debtor
agrees, solely with respect to the Pledged Securities, that it shall not enter into a similar agreement (or one that would confer
“control” within the meaning of Article 8 of the UCC) with any other person or entity.

 

(cc)
each Debtor shall cause all tangible chattel paper constituting Collateral to be delivered to the Collateral Agent or, if such
delivery is not possible, then to cause such tangible chattel paper to contain a legend noting that it is subject to the security
interest created by this Agreement. To the extent that any Collateral consists of electronic chattel paper, the applicable Debtor
shall cause the underlying chattel paper to be “marked” within the meaning of Section 9-105 of the UCC (or successor
section thereto).

 

(dd)
If there is any investment property or deposit account included as Collateral that can be perfected by “control” through
an account control agreement, the applicable Debtor shall at the request of the Collateral Agent cause such an account control
agreement, in form and substance in each case reasonably satisfactory to the Collateral Agent, to be entered into and delivered
to the Collateral Agent for the benefit of the Secured Parties.

 

(ee)
To the extent that any Collateral consists of letter-of-credit rights, the applicable Debtor shall cause the issuer of each underlying
letter of credit to consent to an assignment of the proceeds thereof to the Secured Parties.

 

(ff)
To the extent that any Collateral is in the possession of any third party, the applicable Debtor shall join with the Collateral
Agent in notifying such third party of the Secured Parties’ security interest in such Collateral and shall use commercially
reasonable efforts to obtain an acknowledgement and agreement from such third party with respect to the Collateral, in form and
substance reasonably satisfactory to the Collateral Agent.

 

(gg)
If any Debtor shall at any time hold or acquire a commercial tort claim, such Debtor shall promptly notify the Secured Parties
in a writing signed by such Debtor of the particulars thereof and grant to the Secured Parties in such writing a security interest
therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance satisfactory
to the Collateral Agent.

 

(hh)
Each Debtor shall promptly provide written notice to the Collateral Agent of any and all accounts which arise out of contracts
with any governmental authority and, to the extent necessary to perfect or continue the perfected status of the Security Interests
in such accounts and proceeds thereof, shall execute and deliver to the Collateral Agent an assignment of claims for such accounts
and cooperate with the Collateral Agent in taking any other steps required, in its judgment, under the Federal Assignment of Claims
Act or any similar federal, state or local statute or rule to perfect or continue the perfected status of the Security Interests
in such accounts and proceeds thereof.

 

(ii)
The Company shall cause each subsidiary of the Company to promptly become a party hereto (an “Additional Debtor”),
by executing and delivering an Additional Debtor Joinder substantially in the form of Annex A attached hereto and comply
with the provisions hereof applicable to the Debtors. Concurrent therewith, the Additional Debtor shall deliver replacement schedules
for, or supplements to all other Disclosure Schedules to (or referred to in) this Agreement, as applicable, which replacement
schedules shall supersede, or supplements shall modify, the Schedules then in effect. The Additional Debtor shall also deliver
such opinions of counsel, authorizing resolutions, good standing certificates, incumbency certificates, organizational documents,
financing statements and other information and documentation as the Collateral Agent may reasonably request. Upon delivery of
the foregoing to the Collateral Agent, the Additional Debtor shall be and become a party to this Agreement with the same rights
and obligations as the Debtors, for all purposes hereof as fully and to the same extent as if it were an original signatory hereto
and shall be deemed to have made the representations, warranties and covenants set forth herein as of the date of execution and
delivery of such Additional Debtor Joinder (other than representations and warranties that specifically refer to an earlier date),
and all references herein to the “Debtors” shall be deemed to include each Additional Debtor.

 

    	 	9	 

     

    

 

(jj)
Each Debtor shall vote the Pledged Securities to comply with the covenants and agreements set forth herein and in the Notes.

 

(kk)
Each Debtor shall register the pledge of the applicable Pledged Securities on the books of such Debtor. Each Debtor shall notify
each issuer of Pledged Securities to register the pledge of the applicable Pledged Securities in the name of the Collateral Agent
on the books of such issuer. Further, except with respect to certificated securities delivered to the Collateral Agent, the applicable
Debtor shall deliver to Collateral Agent an acknowledgement of pledge (which, where appropriate, shall comply with the requirements
of the relevant UCC with respect to perfection by registration) signed by the issuer of the applicable Pledged Securities, which
acknowledgement shall confirm that: (a) it has registered the pledge on its books and records; and (b) at any time directed by
Collateral Agent during the continuation of an Event of Default, such issuer will transfer the record ownership of such Pledged
Securities into the name of any designee of the Collateral Agent, will take such steps as may be necessary to effect the transfer,
and will comply with all other instructions of the Collateral Agent regarding such Pledged Securities without the further consent
of the applicable Debtor.

 

(ll)
In the event that, upon an occurrence of an Event of Default, Collateral Agent shall sell all or any of the Pledged Securities
to another party or parties (herein called the “Transferee”) or shall purchase or retain all or any of the
Pledged Securities, each Debtor shall, to the extent applicable: (i) deliver to Collateral Agent or the Transferee, as the case
may be, the articles of incorporation, bylaws, minute books, stock certificate books, corporate seals, deeds, leases, indentures,
agreements, evidences of indebtedness, books of account, financial records and all other Organizational Documents and records
of the Debtors and their direct and indirect subsidiaries; (ii) use its commercially reasonable efforts to obtain resignations
of the persons then serving as officers and directors of the Debtors and their direct and indirect subsidiaries, if so requested;
and (iii) use its commercially reasonable efforts to obtain any approvals that are required by any governmental or regulatory
body in order to permit the sale of the Pledged Securities to the Transferee or the purchase or retention of the Pledged Securities
by Collateral Agent and allow the Transferee or Collateral Agent to continue the business of the Debtors and their direct and
indirect subsidiaries.

 

(mm)
Without limiting the generality of the other obligations of the Debtors hereunder, each Debtor shall (i) cause to be registered
at the United States Copyright Office all of its material copyrights, (ii) cause the security interest contemplated hereby with
respect to all Intellectual Property registered at the United States Copyright Office or United States Patent and Trademark Office
to be duly recorded at the applicable office, and (iii) give the Collateral Agent notice whenever it acquires (whether absolutely
or by license) or creates any additional material Intellectual Property.

 

(nn)
Each Debtor will from time to time, at the joint and several expense of the Debtors, promptly execute and deliver all such further
instruments and documents, and take all such further action as may be reasonably necessary or desirable, or as the Collateral
Agent may reasonably request, in order to perfect and protect any security interest granted or purported to be granted hereby
or to enable the Collateral Agent to exercise and enforce Collateral Agent’s rights and remedies hereunder and with respect
to any Collateral or to otherwise carry out the purposes of this Agreement.

 

    	 	10	 

     

    

 

(oo)
Schedule F attached hereto lists all of the patents, patent applications, trademarks, trademark applications, registered
copyrights, and domain names owned by any of the Debtors as of the date hereof. Schedule F lists all material licenses
in favor of any Debtor for the use of any patents, trademarks, copyrights and domain names as of the date hereof. All material
patents and trademarks of the Debtors have been duly recorded at the United States Patent and Trademark Office and all material
copyrights of the Debtors have been duly recorded at the United States Copyright Office.

 

(pp)
Except as set forth on Schedule G attached hereto, none of the account debtors or other persons or entities obligated on
any of the Collateral is a governmental authority covered by the Federal Assignment of Claims Act or any similar federal, state
or local statute or rule in respect of such Collateral.

 

5.
Effect of Pledge on Certain Rights. If any of the Collateral subject to this Agreement consists of nonvoting
equity or ownership interests (regardless of class, designation, preference or rights) that may be converted into voting equity
or ownership interests upon the occurrence of certain events (including, without limitation, upon the transfer of all or any of
the other stock or assets of the issuer), it is agreed that the pledge of such equity or ownership interests pursuant to this
Agreement or the enforcement of any of Collateral Agent’s rights hereunder shall not be deemed to be the type of event which
would trigger such conversion rights notwithstanding any provisions in the Organizational Documents or agreements to which any
Debtor is subject or to which any Debtor is party.

 

6.
Defaults. The following events shall be “Events of Default”:

 

(a)
The occurrence of an Event of Default (as defined in the Notes) under the Notes;

 

(b)
Any representation or warranty of any Debtor in this Agreement shall prove to have been incorrect in any material respect when
made;

 

(c)
The failure by any Debtor to observe or perform any of its obligations hereunder for five (5) Business Days after delivery to
such Debtor of written notice of such failure by or on behalf of a Secured Party or ten (10) Business Days after Debtor otherwise
becomes aware of such non-observance or non-performance; or

 

(d)
If any material provision of this Agreement shall at any time for any reason be declared to be null and void, or the validity
or enforceability thereof shall be contested by any Debtor, or a proceeding shall be commenced by any Debtor, or by any governmental
authority having jurisdiction over any Debtor, seeking to establish the invalidity or unenforceability thereof, or any Debtor
shall deny that any Debtor has any liability or obligation purported to be created under this Agreement.

 

7.
Duty to Hold In Trust.

 

(a)
During the continuance of an Event of Default, each Debtor shall, upon receipt of any revenue, income, dividend, interest or other
sums subject to the Security Interests, whether payable pursuant to the Notes or otherwise, or of any check, draft, note, trade
acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and
shall forthwith endorse and transfer any such sums or instruments, or both, to the Collateral Agent for distribution to the Secured
Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Notes for application to the
satisfaction of the Obligations (and if any Note is not outstanding, pro-rata in proportion to the initial purchases of the remaining
Notes).

 

    	 	11	 

     

    

 

(b)
If any Debtor shall become entitled to receive or shall receive any securities or other property (including, without limitation,
shares of Pledged Securities or instruments representing Pledged Securities acquired after the date hereof, or any options, warrants,
rights or other similar property or certificates representing a dividend, or any distribution in connection with any recapitalization,
reclassification or increase or reduction of capital, or issued in connection with any reorganization of such Debtor or any of
its direct or indirect subsidiaries) in respect of the Pledged Securities (whether as an addition to, in substitution of, or in
exchange for, such Pledged Securities or otherwise), such Debtor agrees to (i) hold the same in trust on behalf of and for the
benefit of the Secured Parties; and (ii) to deliver any and all certificates or instruments evidencing the same to Collateral
Agent on or before the close of business on the fifth Business Day following the receipt thereof by such Debtor, in the exact
form received together with the Necessary Endorsements, to be held by Collateral Agent subject to the terms of this Agreement
as Collateral.

 

8.
Rights and Remedies Upon Default.

 

(a)
After the occurrence and during the continuance of any Event of Default, the Collateral Agent shall have the right to exercise
all of the remedies conferred hereunder and under the Notes, and the Collateral Agent shall have all the rights and remedies of
a secured party under the UCC. Without limitation, the Collateral Agent, for the benefit of the Secured Parties, shall have the
following rights and powers:

 

(i)
The Collateral Agent shall have the right to take possession of the Collateral and, for that purpose, enter, with the aid and
assistance of any person, any premises where the Collateral, or any part thereof, is or may be placed and remove the same, so
long as the same can be accomplished without breach of the peace and otherwise in compliance with applicable law, and each Debtor
shall assemble the Collateral and make it available to the Collateral Agent at places which the Collateral Agent shall reasonably
select, whether at such Debtor’s premises or elsewhere, and make available to the Collateral Agent, without rent, all of
such Debtor’s respective premises and facilities for the purpose of the Collateral Agent taking possession of, removing
or putting the Collateral in saleable or disposable form.

 

(ii)
Upon notice to the Debtors by Collateral Agent, all rights of each Debtor to exercise the voting and other consensual rights which
it would otherwise be entitled to exercise and all rights of each Debtor to receive the dividends and interest which it would
otherwise be authorized to receive and retain, shall cease. Upon such notice, Collateral Agent shall have the right to receive,
for the benefit of the Secured Parties, any interest, cash dividends or other payments on the Collateral and, at the option of
Collateral Agent, to exercise in such Collateral Agent’s discretion all voting rights pertaining thereto. Without limiting
the generality of the foregoing, Collateral Agent shall have the right (but not the obligation) to exercise all rights with respect
to the Collateral as if it were the sole and absolute owner thereof, including, without limitation, to vote and/or to exchange,
at its sole discretion, any or all of the Collateral in connection with a merger, reorganization, consolidation, recapitalization
or other readjustment concerning or involving the Collateral or any Debtor or any of its direct or indirect subsidiaries.

 

(iii)
The Collateral Agent shall have the right to seek an Order from a court appointing a Trustee to operate the business of each Debtor
using the Collateral and shall have the right to assign, sell, lease or otherwise dispose of and deliver all or any part of the
Collateral, at public or private sale or otherwise, either with or without special conditions or stipulations, for cash or on
credit or for future delivery, in such parcel or parcels and at such time or times and at such place or places, and upon such
terms and conditions as are commercially reasonable. Upon each such sale, lease, assignment or other transfer or disposition of
Collateral, the Collateral Agent, for the benefit of the Secured Parties, may, unless prohibited by applicable law which cannot
be waived, purchase all or any part of the Collateral being sold, free from and discharged of all trusts, claims, right of redemption
and equities of any Debtor, which are hereby waived and released.

 

    	 	12	 

     

    

 

(iv)
The Collateral Agent shall have the right (but not the obligation) to notify any account debtors and any obligors under instruments
or accounts to make payments directly to the Collateral Agent, on behalf of the Secured Parties, and to enforce the Debtors’
rights against such account debtors and obligors.

 

(v)
The Collateral Agent, for the benefit of the Secured Parties, may (but is not obligated to) direct any financial intermediary
or any other person or entity holding any investment property to transfer the same to the Collateral Agent, on behalf of the Secured
Parties, or its designee.

 

(vi)
The Collateral Agent may (but is not obligated to) transfer any or all Intellectual Property registered in the name of any Debtor
at the United States Patent and Trademark Office and/or Copyright Office into the name of the Collateral Agent or any purchaser
of any Collateral.

 

(b)
The Collateral Agent shall comply with any applicable law in connection with a disposition of Collateral and such compliance will
not be considered adversely to affect the commercial reasonableness of any sale of the Collateral. The Collateral Agent may sell
the Collateral without giving any warranties and may specifically disclaim such warranties. If the Collateral Agent sells any
of the Collateral on credit, the Debtors will only be credited with payments actually made by the purchaser. In addition, each
Debtor waives any and all rights that it may have to a judicial hearing in advance of the enforcement of any of the Collateral
Agent’s rights and remedies hereunder, including, without limitation, its right following an Event of Default to take immediate
possession of the Collateral and to exercise its rights and remedies with respect thereto.

 

(c)
If any notice to Debtor of the sale or other disposition of Collateral is required by then applicable law, five (5) business days
prior written notice (which Debtor agree is reasonable notice within the meaning of Section 9.612(a) of the Uniform Commercial
Code) shall be given to Debtor of the time and place of any sale of Collateral. The rights granted in this Section are in addition
to any and all rights available to Collateral Agent under the Uniform Commercial Code.

 

(d)
For the purpose of enabling the Collateral Agent to further exercise rights and remedies under this Section 8 or elsewhere provided
by agreement or applicable law, each Debtor hereby grants to the Collateral Agent, for the benefit of the Collateral Agent and
the Secured Parties, an irrevocable, nonexclusive license (exercisable without payment of royalty or other compensation to such
Debtor) to use, license or sublicense during the continuance of an Event of Default, any Intellectual Property now owned or hereafter
acquired by such Debtor, and wherever the same may be located, and including in such license access to all media in which any
of the licensed items may be recorded or stored and to all computer software and programs used for the compilation or printout
thereof.

 

9.
Applications of Proceeds. The proceeds of any such sale, lease or other disposition of the Collateral hereunder or from
payments made on account of any insurance policy insuring any portion of the Collateral shall be applied first, to the expenses
of retaking, holding, storing, processing and preparing for sale, selling, and the like (including, without limitation, any taxes,
fees and other costs incurred in connection therewith) of the Collateral, if any, to the reasonable attorneys’ fees and
expenses incurred by the Collateral Agent in enforcing the Secured Parties’ rights hereunder and in connection with collecting,
storing and disposing of the Collateral, and then to satisfaction of the Obligations pro rata among the Secured Parties (based
on then-outstanding principal amounts of Notes at the time of any such determination), and then to the payment of any other amounts
required by applicable law, after which the Secured Parties shall pay to the applicable Debtor any surplus proceeds. If, upon
the sale, license or other disposition of the Collateral, the proceeds thereof are insufficient to pay all amounts to which the
Secured Parties are legally entitled, the Debtors will be liable for the deficiency, together with interest thereon, at the rate
of 18% per annum or the lesser amount permitted by applicable law (the “Default Rate”), and the reasonable fees of
any attorneys employed by the Secured Parties to collect such deficiency. To the extent permitted by applicable law, each Debtor
waives all claims, damages and demands against the Secured Parties arising out of the repossession, removal, retention or sale
of the Collateral, unless due solely to the gross negligence or willful misconduct of the Secured Parties as determined by a final
judgment (not subject to further appeal) of a court of competent jurisdiction.

 

    	 	13	 

     

    

 

10.
Securities Law Provision. Each Debtor recognizes that Collateral Agent may be limited in its ability to effect a sale to
the public of all or part of the Pledged Securities by reason of certain prohibitions in the Securities Act of 1933, as amended,
or other federal or state securities laws (collectively, the “Securities Laws”), and may reasonably be obliged
to resort to one or more sales to a restricted group of purchasers who may be required to agree to acquire the Pledged Securities
for their own account, for investment and not with a view to the distribution or resale thereof. Each Debtor agrees that sales
so made may be at prices and on terms less favorable than if the Pledged Securities were sold to the public, and that Collateral
Agent has no obligation to delay the sale of any Pledged Securities for the period of time necessary to register the Pledged Securities
for sale to the public under the Securities Laws. Each Debtor shall cooperate with Collateral Agent in its attempt to satisfy
any requirements under the Securities Laws (including, without limitation, registration thereunder if requested by Collateral
Agent) applicable to the sale of the Pledged Securities by Collateral Agent.

 

11.
Costs and Expenses. Each Debtor agrees to pay all reasonable out-of-pocket fees, costs and expenses incurred in connection
with any filing required hereunder, including without limitation, any financing statements pursuant to the UCC, continuation statements,
partial releases and/or termination statements related thereto or any expenses of any searches reasonably required by the Collateral
Agent. The Debtors shall also pay all other claims and charges which in the reasonable opinion of the Collateral Agent is reasonably
likely to prejudice, imperil or otherwise affect the Collateral or the Security Interests therein. The Debtors will also, upon
demand, pay to the Collateral Agent the amount of any and all reasonable expenses, including the reasonable fees and expenses
of its counsel and of any experts and agents, which the Collateral Agent, for the benefit of the Secured Parties, may incur in
connection with (i) the enforcement of this Agreement, (ii) the custody or preservation of, or the sale of, collection from, or
other realization upon, any of the Collateral, or (iii) the exercise or enforcement of any of the rights of the Secured Parties
under the Notes. Until so paid, any fees payable hereunder shall be added to the principal amount of the Notes and shall bear
interest at the Default Rate.

 

12.
Responsibility for Collateral. The Debtors assume all liabilities and responsibility in connection with all Collateral,
and the Obligations shall in no way be affected or diminished by reason of the loss, destruction, damage or theft of any of the
Collateral or its unavailability for any reason. Without limiting the generality of the foregoing, (a) neither the Collateral
Agent nor any Secured Party (i) has any duty (either before or after an Event of Default) to collect any amounts in respect of
the Collateral or to preserve any rights relating to the Collateral, or (ii) has any obligation to clean-up or otherwise prepare
the Collateral for sale, and (b) each Debtor shall remain obligated and liable under each contract or agreement included in the
Collateral to be observed or performed by such Debtor thereunder. Neither the Collateral Agent nor any Secured Party shall have
any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt
by the Collateral Agent or any Secured Party of any payment relating to any of the Collateral, nor shall the Collateral Agent
or any Secured Party be obligated in any manner to perform any of the obligations of any Debtor under or pursuant to any such
contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Collateral Agent or any
Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or
agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts
which may have been assigned to the Collateral Agent or to which the Collateral Agent or any Secured Party may be entitled at
any time or times.

 

    	 	14	 

     

    

 

13.
Security Interests Absolute. All rights of the Secured Parties and all obligations of the Debtors hereunder, shall be absolute
and unconditional, irrespective of: (a) any lack of validity or enforceability of this Agreement, the Notes or any agreement entered
into in connection with the foregoing, or any portion hereof or thereof; (b) any change in the time, manner or place of payment
or performance of, or in any other term of, all or any of the Obligations, or any other amendment or waiver of or any consent
to any departure from the Notes or any other agreement entered into in connection with the foregoing; (c) any exchange, release
or non-perfection of any of the Collateral, or any release or amendment or waiver of or consent to departure from any other collateral
for, or any guarantee, or any other security, for all or any of the Obligations; (d) any action by the Secured Parties to obtain,
adjust, settle and cancel in its sole discretion any insurance claims or matters made or arising in connection with the Collateral;
or (e) any other circumstance which might otherwise constitute any legal or equitable defense available to a Debtor, or a discharge
of all or any part of the Security Interests granted hereby. Until the Obligations shall have been paid and performed in full,
the rights of the Secured Parties shall continue even if the Obligations are barred for any reason, including, without limitation,
the running of the statute of limitations or bankruptcy. Each Debtor expressly waives presentment, protest, notice of protest,
demand, notice of nonpayment and demand for performance. In the event that at any time any transfer of any Collateral or any payment
received by the Secured Parties hereunder shall be deemed by final order of a court of competent jurisdiction to have been a voidable
preference or fraudulent conveyance under the bankruptcy or insolvency laws of the United States, or shall be deemed to be otherwise
due to any party other than the Secured Parties, then, in any such event, each Debtor’s obligations hereunder shall survive
cancellation of this Agreement, and shall not be discharged or satisfied by any prior payment thereof and/or cancellation of this
Agreement, but shall remain a valid and binding obligation enforceable in accordance with the terms and provisions hereof. Each
Debtor waives all right to require the Secured Parties to proceed against any other person or entity or to apply any Collateral
which the Secured Parties may hold at any time, or to marshal assets, or to pursue any other remedy. Each Debtor waives any defense
arising by reason of the application of the statute of limitations to any Obligations secured hereby.

 

14.
Term of Agreement. This Agreement and the Security Interest shall terminate on the date on which all payments under the
Notes have been indefeasibly paid in full and all other Obligations have been paid or discharged; provided, however, that all
indemnities of the Debtors contained in this Agreement (including, without limitation, Annex B hereto) shall survive and remain
operative and in full force and effect regardless of the termination of this Agreement.

 

15.
Power of Attorney; Further Assurances.

 

(a)
Each Debtor authorizes the Collateral Agent, and does hereby make, constitute and appoint the Collateral Agent and its officers,
agents, successors or assigns with full power of substitution, as such Debtor’s true and lawful attorney-in-fact, with power,
in the name of the Collateral Agent or such Debtor, after the occurrence and during the continuance of an Event of Default, (i)
to endorse any note, checks, drafts, money orders or other instruments of payment (including, without limitation, payments payable
under or in respect of any policy of insurance) in respect of the Collateral that may come into possession of the Collateral Agent;
(ii) to sign and endorse any financing statement pursuant to the UCC or any invoice, freight or express bill, bill of lading,
storage or warehouse receipts, drafts against debtors, assignments, verifications and notices in connection with accounts, and
other documents relating to the Collateral; (iii) to pay or discharge taxes, liens, security interests or other encumbrances at
any time levied or placed on or threatened against the Collateral; (iv) to demand, collect, receipt for, compromise, settle and
sue for monies due in respect of the Collateral; (v) to transfer any Intellectual Property or provide licenses respecting any
Intellectual Property; and (vi) generally, at the option of the Collateral Agent, and at the expense of the Debtors, at any time,
or from time to time, to execute and deliver any and all documents and instruments and to do all acts and things which the Collateral
Agent deems necessary to protect, preserve and realize upon the Collateral and the Security Interests granted therein in order
to effect the intent of this Agreement and the Notes all as fully and effectually as the Debtors might or could do; and each Debtor
hereby ratifies all that said attorney shall lawfully do or cause to be done by virtue hereof. This power of attorney is coupled
with an interest and shall be irrevocable for the term of this Agreement and thereafter as long as any of the Obligations shall
be outstanding. The designation set forth herein shall be deemed to amend and supersede any inconsistent provision in the Organizational
Documents or other documents or agreements to which any Debtor is subject or to which any Debtor is a party. Without limiting
the generality of the foregoing, after the occurrence and during the continuance of an Event of Default, each Secured Party is
specifically authorized to execute and file any applications for or instruments of transfer and assignment of any patents, trademarks,
copyrights or other Intellectual Property with the United States Patent and Trademark Office and the United States Copyright Office.

 

    	 	15	 

     

    

 

(b)
On a continuing basis, each Debtor will make, execute, acknowledge, deliver, file and record, as the case may be, with the proper
filing and recording agencies in any jurisdiction, including, without limitation, the jurisdictions indicated on Schedule C
attached hereto, all such instruments, and take all such action as may reasonably be deemed necessary or advisable, or as
reasonably requested by the Collateral Agent, to perfect the Security Interest granted hereunder and otherwise to carry out the
intent and purposes of this Agreement, or for assuring and confirming to the Collateral Agent the grant or perfect of a perfected
security interest in all the Collateral under the UCC.

 

(c)
Each Debtor hereby irrevocably appoints the Collateral Agent as such Debtor’s attorney-in-fact, with full authority in the
place and instead of such Debtor and in the name of such Debtor, from time to time in the Collateral Agent’s discretion,
to take any action permitted under this Agreement and to execute any instrument which the Collateral Agent may reasonably deem
necessary or advisable to accomplish the purposes of this Agreement, including the filing, in its sole discretion, of one or more
financing or continuation statements and amendments thereto, relative to any of the Collateral without the signature of such Debtor
where permitted by law, which financing statements may (but need not) describe the Collateral as “all assets” or “all
personal property” or words of like import, and ratifies all such actions taken by the Collateral Agent. This power of attorney
is coupled with an interest and shall be irrevocable for the term of this Agreement and thereafter as long as any of the Obligations
shall be outstanding.

 

16.
Notices. All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder
shall be in writing and, unless otherwise specified herein, shall be (a) personally served, (b) deposited in the mail, registered
or certified, return receipt requested, postage prepaid, (c) delivered by a reputable overnight courier service with charges prepaid,
or (d) transmitted by hand delivery, telegram, or facsimile, addressed as set forth below or to such other address as such party
shall have specified most recently by written notice. Any notice or other communication required or permitted to be given hereunder
shall be deemed effective (i) upon hand delivery or delivery by facsimile, with accurate confirmation generated by the transmitting
facsimile machine, at the address or number designated below (if delivered on a Business Day during normal business hours), or
the first Business Day following such delivery (if delivered other than on a Business Day during normal business hours), (ii)
on the first Business Day following the date deposited with an overnight courier service with charges prepaid, or (iii) on the
fifth Business Day following the date of mailing pursuant to subpart (b) above, or upon actual receipt of such mailing, whichever
shall first occur. The addresses for such communications shall be:

 

	 	To
    Debtor, to:	Immudyne,
    Inc.
	 	 	1460
    Broadway
	 	 	New
    York, NY 10036
	 	 	Attn:
    Justin Schreiber, CEO
	 	 	 
	 	With
    a copy by fax only to	 
	 	(which
    shall not constitute notice):	Lucosky
    Brookman
	 	 	101
    Wood Avenue South
	 	 	Woodbridge,
    NJ 08830
	 	 	Attn:
    Lawrence Metelitsa, Esq.
	 	 	Fax:
    (732) 395-4401
	 	 	 
	 	To
    the Collateral Agent:	Alpha
    Capital Anstalt

    	 	16	 

     

    

 

17.
Other Security. To the extent that the Obligations are now or hereafter secured by property other than the Collateral or
by the guarantee, endorsement or property of any other person, firm, corporation or other entity, then the Collateral Agent shall
have the right, in its sole discretion, to pursue, relinquish, subordinate, modify or take any other action with respect thereto,
without in any way modifying or affecting any of the Secured Parties’ rights and remedies hereunder.

 

18.
Appointment of Collateral Agent. The Secured Parties hereby appoint Alpha Capital Anstalt to act as their agent (“Collateral
Agent”) for purposes of exercising any and all rights and remedies of the Secured Parties hereunder. Such appointment
shall continue until revoked in writing by a Majority in Interest, at which time a Majority in Interest shall appoint a new Collateral
Agent. The Collateral Agent shall have the rights, responsibilities and immunities set forth in Annex B hereto.

 

19.
Miscellaneous.

 

(a)
No course of dealing between the Debtors and the Collateral Agent, nor any failure to exercise, nor any delay in exercising, on
the part of the Collateral Agent, any right, power or privilege hereunder or under the Notes shall operate as a waiver thereof;
nor shall any single or partial exercise of any right, power or privilege hereunder or thereunder preclude any other or further
exercise thereof or the exercise of any other right, power or privilege.

 

(b)
All of the rights and remedies of the Collateral Agent with respect to the Collateral, whether established hereby or by the Notes
or by any other agreements, instruments or documents or by law shall be cumulative and may be exercised singly or concurrently.

 

(c)
This Agreement, together with the exhibits and schedules hereto, contain the entire understanding of the parties with respect
to the subject matter hereof and supersede all prior agreements and understandings, oral or written, with respect to such matters,
which the parties acknowledge have been merged into this Agreement and the exhibits and schedules hereto. No provision of this
Agreement may be waived, modified, supplemented or amended except in a written instrument signed, in the case of an amendment,
by the Debtors and Collateral Agent or, in the case of a waiver, by the party against whom enforcement of any such waived provision
is sought.

 

    	 	17	 

     

    

 

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

 

(e)
No waiver of any default with respect to any provision, condition or requirement of this Agreement shall be deemed to be a continuing
waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition or requirement hereof,
nor shall any delay or omission of any party to exercise any right hereunder in any manner impair the exercise of any such right.

 

(f)
This Agreement shall be binding upon and inure to the benefit of the parties and their successors and permitted assigns. The Debtors
may not assign this Agreement or any rights or obligations hereunder without the prior written consent of a Majority in Interest
(other than by merger). Any Secured Party may assign any or all of its rights under this Agreement to any Person to whom such
Secured Party assigns or transfers any Obligations, provided such transferee agrees in writing to be bound, with respect to the
transferred Obligations, by the provisions of this Agreement that apply to the “Secured Parties.”

 

(g)
Each party shall take such further action and execute and deliver such further documents as may be necessary or appropriate in
order to carry out the provisions and purposes of this Agreement.

 

(h)
Except as otherwise stated herein, all questions concerning the construction, validity, enforcement and interpretation of this
Agreement shall be governed by and construed and enforced in accordance with the internal laws of the State of New York, without
regard to the principles of conflicts of law thereof. Each Debtor agrees that all proceedings concerning the interpretations,
enforcement and defense of the transactions contemplated by this Agreement and the Notes (whether brought against a party hereto
or its respective affiliates, directors, officers, shareholders, partners, members, employees or agents) shall be commenced exclusively
in the state and federal courts sitting in the City of New York, Borough of Manhattan. Each Debtor hereby irrevocably submits
to the exclusive jurisdiction of the state and federal courts sitting in the City of New York, Borough of Manhattan for the adjudication
of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby
irrevocably waives, and agrees not to assert in any proceeding, any claim that it is not personally subject to the jurisdiction
of any such court, that such proceeding is improper. Each party hereto hereby irrevocably waives personal service of process and
consents to process being served in any such proceeding by mailing a copy thereof via registered or certified mail or overnight
delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement and agrees
that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be
deemed to limit in any way any right to serve process in any manner permitted by law. Each party hereto hereby irrevocably
waives, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising
out of or relating to this Agreement or the transactions contemplated hereby. If any party shall commence a proceeding to
enforce any provisions of this Agreement, then the prevailing party in such proceeding shall be reimbursed by the other party
for its reasonable attorney’s fees and other costs and expenses incurred with the investigation, preparation and prosecution
of such proceeding.

 

    	 	18	 

     

    

 

(i)
This Agreement may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original
and, all of which taken together shall constitute one and the same Agreement. In the event that any signature is delivered by
facsimile or other electronic transmission, such signature shall create a valid binding obligation of the party executing (or
on whose behalf such signature is executed) the same with the same force and effect as if such signature were the original thereof.

 

(j)
All Debtors shall jointly and severally be liable for the obligations of each Debtor to the Secured Parties hereunder.

 

(k)
Each Debtor shall indemnify, reimburse and hold harmless the Collateral Agent and the Secured Parties and their respective partners,
members, shareholders, officers, directors, employees and agents (and any other persons with other titles that have similar functions)
(collectively, “Indemnitees”) from and against any and all losses, claims, liabilities, damages, penalties,
suits, costs and expenses, of any kind or nature, (including fees relating to the cost of investigating and defending any of the
foregoing) imposed on, incurred by or asserted against such Indemnitee in any way related to or arising from or alleged to arise
from this Agreement or the Collateral, except any such losses, claims, liabilities, damages, penalties, suits, costs and expenses
which result from the gross negligence or willful misconduct of the Indemnitee as determined by a final, nonappealable decision
of a court of competent jurisdiction. This indemnification provision is in addition to, and not in limitation of, any other indemnification
provision in the Notes, the Securities Purchase Agreement (as such term is defined in the Notes) or any other agreement, instrument
or other document executed or delivered in connection herewith or therewith.

 

(l)
Nothing in this Agreement shall be construed to subject Collateral Agent or any Secured Party to liability as a partner in any
Debtor or any if its direct or indirect subsidiaries that is a partnership or as a member in any Debtor or any of its direct or
indirect subsidiaries that is a limited liability company, nor shall Collateral Agent or any Secured Party be deemed to have assumed
any obligations under any partnership agreement or limited liability company agreement, as applicable, of any such Debtor or any
if its direct or indirect subsidiaries or otherwise, unless and until any such Secured Party exercises its right to be substituted
for such Debtor as a partner or member, as applicable, pursuant hereto.

 

(m)
To the extent that the grant of the security interest in the Collateral and the enforcement of the terms hereof require the consent,
approval or action of any partner or member, as applicable, of any Debtor or any direct or indirect subsidiary of any Debtor or
compliance with any provisions of any of the Organizational Documents, the Debtors hereby grant such consent and approval and
waive any such noncompliance with the terms of said documents.

 

    	 	19	 

     

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Security Agreement to be duly executed on the day and year first above written.

 

	IMMUDYNE,
    INC.	 
		 
	 
	By:	 	 
	 	Name:
    	 
	 	Title:
    	 

 

	COLLATERAL
    AGENT	 
	 	 
	ALPHA
    CAPITAL ANSTALT	 
	 	 	 
	By:	 	 
	 	Name:	 
	 	Its:	 

 

 

    	 	20	 

     

    

 

OMNIBUS
SECURED PARTY SIGNATURE PAGE TO

IMMUDYNE, INC.

SECURITY AGREEMENT

 

The
undersigned, in its capacity as a Secured Party, hereby executes and delivers the Security Agreement to which this signature page
is attached and agrees to be bound by the Security Agreement on the date set forth on the first page of the Security Agreement.
This counterpart signature page, together with all counterparts of the Security Agreement and signature pages of the other parties
named therein, shall constitute one and the same instrument in accordance with the terms of the Security Agreement.

 

	 	 
	[Print
    Name of Investor]	 
	 	 	 
	 	 
	[Signature]	 
	 	 	 
	Name:
    	       	 
	 	 	 
	Title:
    	 	 

 

	Address:	 	 
	 	 	 
	 	 	 

 

	Email: 
    	                                  	 
	 	 	 
	Taxpayer
    ID# (if applicable):      _______________________

 

    	 	21	 

     

    

 

ANNEX
A to SECURITY AGREEMENT

 

FORM
OF ADDITIONAL DEBTOR JOINDER

 

Security
Agreement dated as of May 29, 2018 made by

Immudyne,
Inc.

and
its Subsidiaries party thereto from time to time, as Debtors

to
and in favor of

the
Secured Parties identified therein (the “Security Agreement”)

 

Reference
is made to the Security Agreement as defined above; capitalized terms used herein and not otherwise defined herein shall have
the meanings given to such terms in, or by reference in, the Security Agreement.

 

The
undersigned hereby agrees that upon delivery of this Additional Debtor Joiner to the Secured Parties referred to above, the undersigned
shall (a) be an Additional Debtor under the Security Agreement, (b) have all the rights and obligations of the Debtors under the
Security Agreement as fully and to the same extent as if the undersigned was an original signatory thereto and (c) be deemed to
have made the representations and warranties set forth therein as of the date of execution and delivery of this Additional Debtor
Joinder (except to the extent such representation or warranty specifically refers to an earlier date). WITHOUT LIMITING THE GENERALITY
OF THE FOREGOING, THE UNDERSIGNED SPECIFICALLY GRANTS TO THE SECURED PARTIES A SECURITY INTEREST IN THE COLLATERAL AS MORE FULLY
SET FORTH IN THE SECURITY AGREEMENT AND ACKNOWLEDGES AND AGREES TO THE WAIVER OF JURY TRIAL PROVISIONS SET FORTH THEREIN.

 

Attached
hereto are supplemental and/or replacement Schedules to the Security Agreement, as applicable.

 

Attached
hereto is an original Subsidiary Guaranty executed by the undersigned and delivered herewith.

 

An
executed copy of this Additional Debtor Joinder shall be delivered to the Secured Parties, and the Secured Parties may rely on
the matters set forth herein on or after the date hereof. This Additional Debtor Joinder shall not be modified, amended or terminated
without the prior written consent of the Secured Parties.

 

IN
WITNESS WHEREOF, the undersigned has caused this Joiner to be executed in the name and on behalf of the undersigned.

 

	By:	 	 
	 	 	 
	Name:	 	 
	Title:	 	 
	 	 	 
	Address:	 	 

 

Dated:   

 

    	 	22	 

     

    

 

SUBSIDIARY
GUARANTY

 

1. Identification.

 

This
Guaranty (the “Guaranty”), dated as of _____________, 2018 is entered into by [REQUIRES COMPLETION], a [REQUIRES
COMPLETION] corporation (“Guarantor”), for the benefit of the Collateral Agent identified below and the parties
identified on Schedule A hereto (each a “Lender” and collectively, the “Lenders”).

 

2. Recitals.

 

2.1 Guarantor
is a direct or indirect subsidiary of Immudyne, Inc., a Delaware corporation (“Parent”). The Lenders have made
and/or are making loans to Parent (the “Loans”). Guarantor will obtain substantial benefit from the proceeds
of the Loans.

 

2.2 The
Loans are and will be evidenced by certain Secured Convertible Promissory Notes (collectively, “Note” or the
“Notes”) issued by Parent on, about or after the date of this Guaranty pursuant to those certain Securities
Purchase Agreements dated at or about the date hereof (“Securities Purchase Agreements”). The Notes issued
on the Closing Date are further described on Schedule A hereto and were and or will be executed by Parent as “Borrower”
for the benefit of each Lender as the “Holder” thereof.

 

2.3 In
consideration of the Loans made and to be made by Lenders to Parent and for other good and valuable consideration, and as security
for the performance by Parent of its obligations under the Notes and as security for the repayment of the Loans and all other
sums due from Debtor to Lenders arising under the Notes (collectively, the “Obligations”), Guarantor, for good
and valuable consideration, receipt of which is acknowledged, has agreed to enter into this Guaranty.

 

2.4 The
Lenders have appointed Alpha Capital Anstalt as Collateral Agent pursuant to that certain Security Agreement dated at or about
the date of this Agreement (“Security Agreement”), among the Lenders and Collateral Agent.

 

2.5 Upper
case terms employed but not defined herein shall have the meanings ascribed to them in the Transaction Documents (as defined in
the Securities Purchase Agreement).

 

3. Guaranty.

 

3.1 Guaranty.
Guarantor hereby unconditionally and irrevocably guarantees, jointly and severally with any other guarantor of the Obligations,
the punctual payment, performance and observance when due, whether at stated maturity, by acceleration or otherwise, of all of
the Obligations now or hereafter existing, whether for principal, interest (including, without limitation, all interest that accrues
after the commencement of any insolvency, bankruptcy or reorganization of Parent, whether or not constituting an allowed claim
in such proceeding), fees, commissions, expense reimbursements, liquidated damages, indemnifications or otherwise arising under
the Notes, Security Agreement, or any other Transaction Document (as defined in the Securities Purchase Agreement) (such obligations,
to the extent not paid by Parent being the “Guaranteed Obligations” and included in the definition of Obligations),
and agrees to pay any and all reasonable costs, fees and expenses (including reasonable counsel fees and expenses) incurred by
Collateral Agent and the Lenders in enforcing any rights under the Guaranty set forth herein. Without limiting the generality
of the foregoing, Guarantor’s liability shall extend to all amounts that constitute part of the Guaranteed Obligations and
would be owed by Parent to Collateral Agent and the Lenders, but for the fact that they are unenforceable or not allowable due
to the existence of an insolvency, bankruptcy or reorganization involving Parent.

 

    	 	23	 

     

    

 

3.2 Guaranty
Absolute. Guarantor guarantees that the Guaranteed Obligations will be paid strictly in accordance with the terms of the Notes,
regardless of any law, regulation or order now or hereafter in effect in any jurisdiction affecting any of such terms or the rights
of Collateral Agent or the Lenders with respect thereto. The obligations of Guarantor under this Guaranty are independent of the
Guaranteed Obligations, and a separate action or actions may be brought and prosecuted against Guarantor to enforce such obligations,
irrespective of whether any action is brought against Parent or any other guarantor or whether Parent or any other guarantor is
joined in any such action or actions. The liability of Guarantor under this Guaranty constitutes a primary obligation, and not
a contract of surety, and to the extent permitted by law, shall be irrevocable, absolute and unconditional irrespective of, and
Guarantor hereby irrevocably waives any defenses it may now or hereafter have in any way relating to, any or all of the following:

 

(a) any
lack of validity of the Notes or any agreement or instrument relating thereto;

 

(b) any
change in the time, manner or place of payment of, or in any other term of, all or any of the Guaranteed Obligations, or any other
amendment or waiver of or any consent to departure from the Notes, including, without limitation, any increase in the Guaranteed
Obligations resulting from the extension of additional credit to Parent or otherwise;

 

(c) any
taking, exchange, release, subordination or non-perfection of any Collateral, or any taking, release or amendment or waiver of
or consent to departure from any other guaranty, for all or any of the Guaranteed Obligations;

 

(d) any
change, restructuring or termination of the corporate, limited liability company or partnership structure or existence of Parent;
or

 

(e)
 any other circumstance (including, without limitation, any statute of limitations) or
any existence of or reliance on any representation by Collateral Agent or the Lenders that might otherwise constitute a defense
available to, or a discharge of, Parent or any other guarantor or surety.

 

This
Guaranty shall continue to be effective or be reinstated, as the case may be, if at any time any payment of any of the Guaranteed
Obligations is rescinded or must otherwise be returned by Collateral Agent, the Lenders or any other entity upon the insolvency,
bankruptcy or reorganization of the Parent or otherwise (and whether as a result of any demand, settlement, litigation or otherwise),
all as though such payment had not been made.

 

3.3 Waiver.
Guarantor hereby waives promptness, diligence, notice of acceptance and any other notice with respect to any of the Guaranteed
Obligations and this Guaranty and any requirement that Collateral Agent or the Lenders exhaust any right or take any action against
any Borrower or any other person or entity or any Collateral. Guarantor acknowledges that it will receive direct and indirect
benefits from the financing arrangements contemplated herein and that the waiver set forth in this Section 3.3 is knowingly
made in contemplation of such benefits. Guarantor hereby waives any right to revoke this Guaranty, and acknowledges that this
Guaranty is continuing in nature and applies to all Guaranteed Obligations, whether existing now or in the future.

 

3.4
Continuing Guaranty; Assignments. This Guaranty is a continuing guaranty and shall (a) remain in full force and effect
until the later of the indefeasible cash or other payment in full of the Guaranteed Obligations, (b) be binding upon Guarantor,
its successors and assigns, and (c) inure to the benefit of and be enforceable by the Lenders and their successors, pledgees,
transferees and assigns. Without limiting the generality of the foregoing clause (c), any Lender may pledge, assign or otherwise
transfer all or any portion of its rights and obligations under this Guaranty (including, without limitation, all or any portion
of its Notes owing to it) to any other Person, and such other Person shall thereupon become vested with all the benefits in respect
thereof granted such Collateral Agent or Lender herein or otherwise.

 

    	 	24	 

     

    

 

3.5
Subrogation. Guarantor will not exercise any rights that it may now or hereafter acquire against the Collateral Agent or
any Lender or other guarantor (if any) that arise from the existence, payment, performance or enforcement of such Guarantor’s
obligations under this Guaranty, including, without limitation, any right of subrogation, reimbursement, exoneration, contribution
or indemnification, whether or not such claim, remedy or right arises in equity or under contract, statute or common law, including,
without limitation, the right to take or receive from the Collateral Agent or any Lender or other guarantor (if any), directly
or indirectly, in cash or other property or by set-off or in any other manner, payment or security solely on account of such claim,
remedy or right, unless and until all of the Guaranteed Obligations and all other amounts payable under this Guaranty shall have
been indefeasibly paid in full. 

 

3.6
Maximum Obligations. Notwithstanding any provision herein contained to the contrary, Guarantor’s liability with respect
to the Obligations shall be limited to an amount not to exceed, as of any date of determination, the amount that could be claimed
by Lenders from Guarantor without rendering such claim voidable or avoidable under Section 548 of the Bankruptcy Code or under
any applicable state Uniform Fraudulent Transfer Act, Uniform Fraudulent Conveyance Act or similar statute or common law.

 

4. Miscellaneous.

 

4.1 Expenses.
Guarantor shall pay to the Lenders, on demand, the amount of any and all reasonable expenses, including, without limitation, reasonable
attorneys’ fees, reasonable legal expenses and reasonable brokers’ fees, which the Lenders may incur in connection
with exercise or enforcement of any the rights, remedies or powers of the Lenders hereunder or with respect to any or all of the
Obligations.

 

4.2 Waivers,
Amendment and Remedies. No course of dealing by the Lenders and no failure by the Lenders to exercise, or delay by the Lender
in exercising, any right, remedy or power hereunder shall operate as a waiver thereof, and no single or partial exercise thereof
shall preclude any other or further exercise thereof or the exercise of any other right, remedy or power of the Lenders. No amendment,
modification or waiver of any provision of this Guaranty and no consent to any departure by Guarantor therefrom, shall, in any
event, be effective unless contained in a writing signed by the Guarantor and the Majority in Interest (as such term is defined
in the Security Agreement) or Lenders against whom such amendment, modification or waiver is sought, and then such waiver or consent
shall be effective only in the specific instance and for the specific purpose for which given. The rights, remedies and powers
of the Lenders, not only hereunder, but also under any other Transaction Documents and under applicable law are cumulative, and
may be exercised by the Lenders from time to time in such order as the Lenders may elect.

 

4.3 Notices.
All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder shall be in writing
and, unless otherwise specified herein, shall be (a) personally served, (b) deposited in the mail, registered or certified, return
receipt requested, postage prepaid, (c) delivered by a reputable overnight courier service with charges prepaid, or (d) transmitted
by hand delivery, telegram, or facsimile, addressed as set forth below or to such other address as such party shall have specified
most recently by written notice. Any notice or other communication required or permitted to be given hereunder shall be deemed
effective (i) upon hand delivery or delivery by facsimile, with accurate confirmation generated by the transmitting facsimile
machine, at the address or number designated below if delivered on a Business Day during normal business hours, or the first Business
Day following such delivery (if delivered other than on a Business Day during normal business hours), (ii) on the first Business
Day following the date deposited with an overnight courier service with charges prepaid, or (iii) on the fifth Business Day following
the date of mailing pursuant to subpart (b) above, or upon actual receipt of such mailing, whichever shall first occur. The addresses
for such communications shall be:

 

	 	To
    Guarantor, to:	c/o
    Immudyne, Inc.
	 	 	1460
    Broadway
	 	 	New
    York, NY 10036
	 	 	Attn:
    Justin Schreiber, CEO
	 	 	 
	 	With
    a copy by fax only to	 
	 	(which
    shall not constitute notice):	Lucosky
    Brookman
	 	 	101
    Wood Avenue South
	 	 	Woodbridge,
    NJ 08830
	 	 	Attn:
    Lawrence Metelitsa, Esq.
	 	 	Fax:
    (732) 395-4401
	 	 	 
	 	To
    the Collateral Agent:	Alpha
    Capital Anstalt
	 	 	 
	 	To
    Lenders:	To
    the addresses and telecopier numbers set
	 	 	forth
    on Schedule A

 

    	 	25	 

     

    

 

Any
party may change its address by written notice in accordance with this paragraph.

 

4.4 Term;
Binding Effect. This Guaranty shall (a) remain in full force and effect until payment and satisfaction in full of all of the
Guaranteed Obligations; (b) be binding upon Guarantor and its successors and permitted assigns; and (c) inure to the benefit of
the Lenders and their respective successors and assigns. All the rights and benefits granted by Guarantor to the Collateral Agent
and Lenders hereunder and other agreements and documents delivered in connection therewith are deemed granted to both the Collateral
Agent and Lenders. Upon the payment in full of the Guaranteed Obligations, (i) this Guaranty shall terminate and (ii) the Lenders
will, upon Guarantor’s request and at Guarantor’s expense, execute and deliver to Guarantor such documents as Guarantor
shall reasonably request to evidence such termination, all without any representation, warranty or recourse whatsoever.

 

4.5 Captions.
The captions of Paragraphs, Articles and Sections in this Guaranty have been included for convenience of reference only, and shall
not define or limit the provisions hereof and have no legal or other significance whatsoever.

 

4.6 Governing
Law; Venue; Severability. This Guaranty shall be governed by and construed in accordance with the laws of the State of New
York without regard to principles of conflicts or choice of law. Any legal action or proceeding against Guarantor with respect
to this Guaranty may be brought in the courts of the State of New York or of the United States for the Southern District of New
York, and, by execution and delivery of this Guaranty, Guarantor hereby irrevocably accepts for itself and in respect of its property,
generally and unconditionally, the jurisdiction of the aforesaid courts. Guarantor hereby irrevocably waives any objection which
it may now or hereafter have to the laying of venue of any of the aforesaid actions or proceedings arising out of or in connection
with this Guaranty brought in the aforesaid courts and hereby further irrevocably waives and agrees not to plead or claim in any
such court that any such action or proceeding brought in any such court has been brought in an inconvenient forum. If any provision
of this Guaranty, or the application thereof to any person or circumstance, is held invalid, such invalidity shall not affect
any other provisions which can be given effect without the invalid provision or application, and to this end the provisions hereof
shall be severable and the remaining, valid provisions shall remain of full force and effect. This Guaranty shall be deemed
an unconditional obligation of Guarantor for the payment of money and, without limitation to any other remedies of Lenders, may
be enforced against Guarantor by summary proceeding pursuant to New York Civil Procedure Law and Rules Section 3213 or any similar
rule or statute in the jurisdiction where enforcement is sought. For purposes of such rule or statute, any other document or agreement
to which Lenders and Guarantor are parties or which Guarantor delivered to Lenders, which may be convenient or necessary to determine
Lenders’ rights hereunder or Guarantor’s obligations to Lenders are deemed a part of this Guaranty, whether or not
such other document or agreement was delivered together herewith or was executed apart from this Guaranty. Each party hereto
hereby irrevocably waives personal service of process and consents to process being served in any such proceeding by mailing a
copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in
effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process
and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner
permitted by law. Guarantor irrevocably appoints Parent its true and lawful agent for service of process upon whom all processes
of law and notices may be served and given in the manner described above; and such service and notice shall be deemed valid personal
service and notice upon Guarantor with the same force and validity as if served upon Guarantor.

 

    	 	26	 

     

    

 

4.7 Satisfaction
of Obligations. For all purposes of this Guaranty, the payment in full of the Obligations shall be conclusively deemed to
have occurred when the Obligations have been paid pursuant to the terms of the Notes and the Securities Purchase Agreements.

 

4.8 Counterparts/Execution.
This Agreement may be executed in any number of counterparts and by the different signatories hereto on separate counterparts,
each of which, when so executed, shall be deemed an original, but all such counterparts shall constitute but one and the same
instrument. This Agreement may be executed by facsimile signature and delivered by electronic transmission.

 

[THE
BALANCE OF THIS PAGE HAS BEEN INTENTIONALLY LEFT BLANK]

 

    	 	27	 

     

    

 

IN
WITNESS WHEREOF, the undersigned have executed and delivered this Guaranty, as of the date first written above.

 

	“GUARANTOR”	 
	 	 
	[REQUIRES
    COMPLETION]	 
	 	 	 
	By:	 	 
	 	Its:
    President / Managing Member	 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

This
Guaranty Agreement may be signed by facsimile signature and

delivered
by confirmed facsimile transmission.

 

    	 	28	 

     

    

 

SCHEDULE
A TO GUARANTY

 

	PURCHASER AND ADDRESS	 	PURCHASE
PRICE and NOTE PRINCIPAL

	 	 	 
	 	 	 
	 	 	 

 

    	 	29	 

     

    

 

ANNEX
B to SECURITY AGREEMENT

 

THE
COLLATERAL AGENT

 

1.
Appointment. The Secured Parties (all capitalized terms used herein and not otherwise defined shall have the
respective meanings provided in the Security Agreement to which this Annex B is attached (the “Agreement”),
by their acceptance of the benefits of the Agreement, hereby designate Alpha Capital Anstalt (“Collateral Agent”)
as the Collateral Agent to act as specified herein and in the Agreement. Each Secured Party shall be deemed irrevocably to authorize
the Collateral Agent to take such action on its behalf under the provisions of the Agreement and any other Transaction Document
(as such term is defined in the Notes) and to exercise such powers and to perform such duties hereunder and thereunder as are
specifically delegated to or required of the Collateral Agent by the terms hereof and thereof and such other powers as are reasonably
incidental thereto. The Collateral Agent may perform any of its duties hereunder by or through its agents or employees.

 

2.
Nature of Duties. The Collateral Agent shall have no duties or responsibilities except those expressly set forth
in the Agreement. Neither the Collateral Agent nor any of its partners, members, shareholders, officers, directors, employees
or agents shall be liable for any action taken or omitted by it as such under the Agreement or hereunder or in connection herewith
or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused
solely by its or their gross negligence or willful misconduct as determined by a final judgment (not subject to further appeal)
of a court of competent jurisdiction. The duties of the Collateral Agent shall be mechanical and administrative in nature; the
Collateral Agent shall not have by reason of the Agreement or any other Transaction Document a fiduciary relationship in respect
of any Debtor or any Secured Party; and nothing in the Agreement or any other Transaction Document, expressed or implied, is intended
to or shall be so construed as to impose upon the Collateral Agent any obligations in respect of the Agreement or any other Transaction
Document except as expressly set forth herein and therein.

 

3.
Lack of Reliance on the Collateral Agent. Independently and without reliance upon the Collateral Agent, each Secured Party,
to the extent it deems appropriate, has made and shall continue to make (i) its own independent investigation of the financial
condition and affairs of the Company and its subsidiaries in connection with such Secured Party’s investment in the Debtors,
the creation and continuance of the Obligations, the transactions contemplated by the Transaction Documents, and the taking or
not taking of any action in connection therewith, and (ii) its own appraisal of the creditworthiness of the Company and its subsidiaries,
and of the value of the Collateral from time to time, and the Collateral Agent shall have no duty or responsibility, either initially
or on a continuing basis, to provide any Secured Party with any credit, market or other information with respect thereto, whether
coming into its possession before any Obligations are incurred or at any time or times thereafter. The Collateral Agent shall
not be responsible to the Debtors or any Secured Party for any recitals, statements, information, representations or warranties
herein or in any document, certificate or other writing delivered in connection herewith, or for the execution, effectiveness,
genuineness, validity, enforceability, perfection, collectibility, priority or sufficiency of the Agreement or any other Transaction
Document, or for the financial condition of the Debtors or the value of any of the Collateral, or be required to make any inquiry
concerning either the performance or observance of any of the terms, provisions or conditions of the Agreement or any other Transaction
Document, or the financial condition of the Debtors, or the value of any of the Collateral, or the existence or possible existence
of any default or Event of Default under the Agreement, the Notes or any of the other Transaction Documents.

 

4.
Certain Rights of the Collateral Agent. The Collateral Agent shall have the right to take any action with respect to the
Collateral, on behalf of all of the Secured Parties. To the extent practical, the Collateral Agent shall request instructions
from the Secured Parties with respect to any material act or action (including failure to act) in connection with the Agreement
or any other Transaction Document, and shall be entitled to act or refrain from acting in accordance with the instructions of
Secured Parties holding a majority in principal amount of Notes (based on then-outstanding principal amounts of Notes at the time
of any such determination); if such instructions are not provided despite the Collateral Agent’s request therefor, the Collateral
Agent shall be entitled to refrain from such act or taking such action, and if such action is taken, shall be entitled to appropriate
indemnification from the Secured Parties in respect of actions to be taken by the Collateral Agent; and the Collateral Agent shall
not incur liability to any person or entity by reason of so refraining. Without limiting the foregoing, (a) no Secured Party shall
have any right of action whatsoever against the Collateral Agent as a result of the Collateral Agent acting or refraining from
acting hereunder in accordance with the terms of the Agreement or any other Transaction Document, and the Debtors shall have no
right to question or challenge the authority of, or the instructions given to, the Collateral Agent pursuant to the foregoing
and (b) the Collateral Agent shall not be required to take any action which the Collateral Agent believes (i) could reasonably
be expected to expose it to personal liability or (ii) is contrary to this Agreement, the Transaction Documents or applicable
law.

 

    	 	30	 

     

    

 

5.
Reliance. The Collateral Agent shall be entitled to rely, and shall be fully protected in relying, upon any writing, resolution,
notice, statement, certificate, telex, teletype or telecopier message, cablegram, radiogram, order or other document or telephone
message signed, sent or made by the proper person or entity, and, with respect to all legal matters pertaining to the Agreement
and the other Transaction Documents and its duties thereunder, upon advice of counsel selected by it and upon all other matters
pertaining to this Agreement and the other Transaction Documents and its duties thereunder, upon advice of other experts selected
by it. Anything to the contrary notwithstanding, the Collateral Agent shall have no obligation whatsoever to any Secured Party
to assure that the Collateral exists or is owned by the Debtors or is cared for, protected or insured or that the liens granted
pursuant to the Agreement have been properly or sufficiently or lawfully created, perfected, or enforced or are entitled to any
particular priority.

 

6.
Indemnification. To the extent that the Collateral Agent is not reimbursed and indemnified by the Debtors, the Secured
Parties will jointly and severally reimburse and indemnify the Collateral Agent, in proportion to their initially purchased respective
principal amounts of Notes, from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments,
suits, costs, expenses or disbursements of any kind or nature whatsoever which may be imposed on, incurred by or asserted against
the Collateral Agent in performing its duties hereunder or under the Agreement or any other Transaction Document, or in any way
relating to or arising out of the Agreement or any other Transaction Document except for those determined by a final judgment
(not subject to further appeal) of a court of competent jurisdiction to have resulted solely from the Collateral Agent’s
own gross negligence or willful misconduct. Prior to taking any action hereunder as Collateral Agent, the Collateral Agent may
require each Secured Party to deposit with it sufficient sums as it determines in good faith is necessary to protect the Collateral
Agent for costs and expenses associated with taking such action.

 

7.
Resignation by the Collateral Agent. 

 

(a)
The Collateral Agent may resign from the performance of all its functions and duties under the Agreement and the other Transaction
Documents at any time by giving 5 days’ prior written notice (as provided in the Agreement) to the Debtors and the Secured
Parties. Such resignation shall take effect upon the appointment of a successor Collateral Agent pursuant to clauses (b) and (c)
below.

 

(b)
Upon any such notice of resignation, the Secured Parties, acting by a Majority in Interest, shall appoint a successor Collateral
Agent hereunder.

 

    	 	31	 

     

    

 

(c)
If a successor Collateral Agent shall not have been so appointed within said 5-day period, the Collateral Agent shall then appoint
a successor Collateral Agent who shall serve as Collateral Agent until such time, if any, as the Secured Parties appoint a successor
Collateral Agent as provided above. If a successor Collateral Agent has not been appointed within such 5-day period, the Collateral
Agent may petition any court of competent jurisdiction or may interplead the Debtors and the Secured Parties in a proceeding for
the appointment of a successor Collateral Agent, and all fees, including, but not limited to, extraordinary fees associated with
the filing of interpleader and expenses associated therewith, shall be payable by the Debtors on demand.

 

8.
Rights with respect to Collateral. Each Secured Party agrees with all other Secured Parties and the Collateral Agent
(i) that it shall not, and shall not attempt to, exercise any rights with respect to its security interest in the Collateral,
whether pursuant to any other agreement or otherwise (other than pursuant to this Agreement), or take or institute any action
against the Collateral Agent or any of the other Secured Parties in respect of the Collateral or its rights hereunder (other than
any such action arising from the breach of this Agreement) and (ii) that such Secured Party has no other rights with respect to
the Collateral other than as set forth in this Agreement and the other Transaction Documents. Upon the acceptance of any appointment
as Collateral Agent hereunder by a successor Collateral Agent, such successor Collateral Agent shall thereupon succeed to and
become vested with all the rights, powers, privileges and duties of the retiring Collateral Agent and the retiring Collateral
Agent shall be discharged from its duties and obligations under the Agreement.  After any retiring Collateral Agent’s
resignation or removal hereunder as Collateral Agent, the provisions of the Agreement including this Annex B shall inure to its
benefit as to any actions taken or omitted to be taken by it while it was Collateral Agent.

 

 

32

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