Document:

Exhibit 4.2

 

NEITHER THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO
WHICH THESE SECURITIES ARE EXERCISABLE HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE
SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE
REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL TO THE HOLDER
(IF REQUESTED BY THE COMPANY), IN A FORM REASONABLY ACCEPTABLE TO THE COMPANY, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT
OR (II) UNLESS SOLD OR ELIGIBLE TO BE SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE
SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE
SECURITIES.

 

NanoVibronix,
Inc.

 

Warrant
To Purchase Capital Stock

 

Warrant No.: 2019-[__]

Date of Issuance: June 21, 2019 (“Issuance
Date”)

 

NanoVibronix, Inc.,
a Delaware corporation (the “Company”), hereby certifies that, for good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, [____________], the registered holder hereof or its permitted assigns
(the “Holder”), is entitled, subject to the terms set forth below, to purchase from the Company, at the
Exercise Price (as defined below) then in effect, upon exercise of this Warrant to Purchase Capital Stock (including any Warrants
to Purchase Capital Stock issued in exchange, transfer or replacement hereof, this “Warrant”), at any
time or times after the date hereof, but not after 11:59 p.m., New York time, on June 20, 2026, at the election of the Holder,
[____________] ([_______]) (subject to adjustment as provided herein) fully paid and nonassessable shares of Series E Convertible
Preferred Stock (as defined below) (collectively, the “Warrant Shares”)..

 

1. EXERCISE OF WARRANT.

 

(a) Mechanics of
Exercise. Subject to the terms and conditions hereof, this Warrant may be exercised by the Holder on any day after the Issuance
Date, in whole or in part, by delivery (whether via facsimile or otherwise) of a written notice, in the form attached hereto as
Exhibit A (the “Exercise Notice”), of the Holder’s election to exercise this Warrant.
Within one (1) Business Day following an exercise of this Warrant as aforesaid, the Holder shall deliver payment to the Company
of an amount in cash by wire transfer of immediately available funds equal to the Exercise Price in effect on the date of such
exercise multiplied by the number of Warrant Shares as to which this Warrant was so exercised or, if available, in the manner set
forth in Section 1(c) below (the “Aggregate Exercise Price”). The Holder shall not be required to deliver
the original of this Warrant in order to effect an exercise hereunder. Execution and delivery of an Exercise Notice with respect
to less than all of the Warrant Shares shall have the same effect as cancellation of the original of this Warrant and issuance
of a new Warrant evidencing the right to purchase the remaining number of Warrant Shares. Execution and delivery of an Exercise
Notice for all of the then-remaining Warrant Shares shall have the same effect as cancellation of the original of this Warrant
after delivery of the Warrant Shares in accordance with the terms hereof. On or before the first (1st) Business Day
following the date on which the Company has received an Exercise Notice and payment of the Aggregate Exercise Price for the number
of Warrant Shares for which this Warrant was so exercised, the Company shall transmit by facsimile an acknowledgment of confirmation
of receipt of such Exercise Notice to the Holder and the Company’s transfer agent for the Warrant Shares, if any. On or before
the third (3rd) Business Day following the date on which the Company has received such Exercise Notice and payment of
the Aggregate Exercise Price for the number of Warrant Shares for which this Warrant was so exercised, the Company shall issue
and deliver to the Holder or, at the Holder’s instruction pursuant to the Exercise Notice, the Holder’s agent or designee,
in each case, sent by reputable overnight courier to the address as specified in the applicable Exercise Notice, a certificate,
registered in the Company’s share register in the name of the Holder or its designee (as indicated in the applicable Exercise
Notice), for the number of shares of Series E Convertible Stock to which the Holder is entitled pursuant to such exercise. Upon
delivery of an Exercise Notice and payment of the Aggregate Exercise Price for the number of Warrant Shares for which this Warrant
was so exercised, the Holder shall be deemed for all corporate purposes to have become the holder of record of the Warrant Shares
with respect to which this Warrant has been exercised, irrespective of the date of delivery of the certificates evidencing such
Warrant Shares.

 

    	 

     

    

 

(b) Exercise Price.
For purposes of this Warrant, “Exercise Price” means a price per Warrant Share equal to $2.50, subject
to adjustment as provided herein.

 

(c) Cashless Exercise.
If at any time after the six month anniversary of the original Issuance Date of this Warrant, there is no effective registration
statement under the Securities Act of 1933, as amended (the “Securities Act”), registering the resale
of the Common Stock underlying the Series E Preferred Stock by the Holder, then this Warrant may also be exercised, in whole or
in part, by means of a “cashless exercise,” in which event the Company shall issue to the Holder the number of Warrant
Shares determined as follows:

 

	 	
         

        X=
	
	 	 	 
	Where	X=	the number of Warrant Shares to be issued to the Holder.
	 	 	 
	 	Y=	the number of Warrant Shares purchasable upon exercise of all of the Warrant or, if only a portion of the Warrant is being exercised, the portion of the Warrant being exercised.
	 	 	 
	 	A=	the Exercise Price.
	 	 	 
	 	B=	the Per Share Market Value of one Warrant Share on the Business Day immediately preceding the date of such election.

 

(d) Fractional Shares.
The Company shall not be required to issue or cause to be issued fractional Warrant Shares on the exercise of this Warrant. If
any fraction of a Warrant Share would, except for the provisions of this Section, be issuable upon exercise of this Warrant, the
number of Warrant Shares to be issued will be rounded up to the nearest whole share.

 

(e) Insufficient
Authorized Shares. From and after the Issuance Date, the Company shall at all times keep reserved for issuance under this Warrant
a number of shares of Series E Convertible Preferred Stock as shall be necessary to satisfy the Company’s obligation to issue
shares of Series E Convertible Preferred Stock hereunder. If, notwithstanding the foregoing, and not in limitation thereof, at
any time while this Warrant remains outstanding the Company does not have a sufficient number of authorized and unreserved shares
of Series E Convertible Preferred Stock (an “Authorized Share Failure”) to satisfy its obligation to
reserve for issuance upon exercise of this Warrant (the “Required Reserve Amount”), then the Company
shall promptly take all action necessary to increase the Company’s authorized shares of Series E Convertible Preferred Stock,
as applicable, to an amount sufficient to allow the Company to reserve the Required Reserve Amount. Without limiting the generality
of the foregoing sentence, if the approval of the stockholders of the Company is required, as soon as practicable after the date
of the occurrence of an Authorized Share Failure, but in no event later than ninety (90) days after the occurrence of such Authorized
Share Failure, the Company shall hold a meeting of its stockholders for the approval of an increase in the number of authorized
shares of Series E Convertible Preferred Stock. In connection with such meeting, the Company shall provide each stockholder with
a proxy statement and shall use its reasonable best efforts to solicit its stockholders’ approval of such increase in authorized
shares Series E Convertible Preferred Stock, and to cause its board of directors to recommend to the stockholders that they approve
such proposal.

 

    2

     

    

 

2.
ADJUSTMENT OF EXERCISE PRICE AND NUMBER OF WARRANT SHARES. Without limiting any provision of Section 4, if the Company,
at any time after the Issuance Date, (i) pays a stock dividend on one or more classes of its then outstanding shares of Series
E Convertible Preferred Stock, or otherwise makes a distribution on any class of capital stock that is payable in shares of Series
E Convertible Preferred Stock, (ii) subdivides (by any stock split, stock dividend, recapitalization or otherwise) one or more
classes of its then outstanding shares of Series E Convertible Preferred Stock into a larger number of shares or (iii) combines
(by combination, reverse stock split or otherwise) one or more classes of its then outstanding shares of Series E Convertible Preferred
Stock into a smaller number of shares, then in each such case (A) the Exercise Price shall be multiplied by a fraction of which
the numerator shall be the number of shares of Series E Convertible Preferred Stock outstanding immediately before such event and
of which the denominator shall be the number of shares of Series E Convertible Preferred Stock outstanding immediately after such
event and (B) the number of shares of Series E Convertible Preferred Stock for which this Warrant is exercisable immediately after
the occurrence of any such event shall be adjusted to equal the number of shares of Series E Convertible Preferred Stock which
a record holder of the same number of shares of Series E Convertible Preferred Stock for which this Warrant is exercisable immediately
prior to the occurrence of such event would own or be entitled to receive after the happening of such event. Any adjustment made
pursuant to clause (i) of this paragraph shall become effective immediately after the record date for the determination of stockholders
entitled to receive such dividend or distribution, and any adjustment pursuant to clause (ii) or (iii) of this paragraph shall
become effective immediately after the effective date of such subdivision or combination. If any event requiring an adjustment
under this paragraph occurs during the period that an Exercise Price is used in any calculation hereunder, then in such calculation
such Exercise Price shall be adjusted appropriately to reflect such event.

 

3.
REPRESENTATIONS AND WARRANTES OF HOLDER. The Holder hereby represents and warrants
to the Company that:

 

(a) Holder acknowledges
that this Warrant is issued to the Holder in reliance upon the Holder’s representation to the Company that this Warrant will
be acquired for investment for the Holder’s own account, not as a nominee or agent, and not with a view to the resale or
distribution of any part thereof, and that such Holder has no present intention of selling, granting any participation in, or otherwise
distributing the same. Holder further represents that the Holder does not have any contract, undertaking, agreement or arrangement
with any person to sell, transfer or grant participations to such person or to any third person, with respect to this Warrant.

 

(b) Holder is an investor
in securities of companies in the development stage and acknowledges that it, he or she is able to fend for itself, himself or
herself, can bear the economic risk of its, his or her investment, and has such knowledge and experience in financial or business
matters that it, he or she is capable of evaluating the merits and risks of the investment in this Warrant. Holder also represents
it, he or she has not been organized solely for the purpose of acquiring this Warrant.

 

(c) Holder is an “accredited investor”
within the meaning of Rule 501 of Regulation D, as presently in effect, as promulgated by the Securities and Exchange Commission
(the “SEC”) under the Securities Act.

 

(d) Holder understands that this Warrant
is characterized as a “restricted security” under the federal securities laws inasmuch as it is being acquired from
the Company in a transaction not involving a public offering and that under such laws and applicable regulations such securities
may be resold without registration under the Securities Act only in certain limited circumstances. In this connection, Holder represents
that it is familiar with Rule 144 as promulgated by the SEC under the Securities Act, as presently in effect, and understands the
resale limitations imposed thereby and by the Securities Act.

 

    3

     

    

 

4.
FUNDAMENTAL TRANSACTIONS.

 

(a) Fundamental Transactions.
Prior to the consummation of each Fundamental Transaction pursuant to which holders of shares of Series E Convertible Preferred
Stock are entitled to receive securities or other assets with respect to or in exchange for shares of Series E Convertible Preferred
Stock (a “Corporate Event”), the Company shall make appropriate provision to insure that the Holder will
thereafter have the right to receive upon an exercise of this Warrant at any time after the consummation of the applicable Fundamental
Transaction but prior to the Expiration Date, in lieu of the shares of the Series E Convertible Preferred Stock (or other securities,
cash, assets or other property) issuable upon the exercise of the Warrant prior to such Fundamental Transaction, such shares of
stock, securities, cash, assets or any other property whatsoever (including warrants or other purchase or subscription rights)
which the Holder would have been entitled to receive upon the happening of the applicable Fundamental Transaction had this Warrant
been exercised immediately prior to the applicable Fundamental Transaction (without regard to any limitations on the exercise of
this Warrant). Provision made pursuant to the preceding sentence shall be in a form and substance reasonably satisfactory to the
Holder.

 

(b) Application.
The provisions of this Section 4 shall apply similarly and equally to successive Fundamental Transactions and Corporate Events.

 

5.
NONCIRCUMVENTION. The Company hereby covenants and agrees that the Company will not, by amendment of the Company’s
certificate of incorporation, the Company’s bylaws or through any reorganization, transfer of assets, consolidation, merger,
scheme of arrangement, dissolution, issue or sale of securities, or any other voluntary action, avoid or seek to avoid the observance
or performance of any of the terms of this Warrant, and will at all times in good faith carry out all the provisions of this Warrant
and take all action as may be required to protect the rights of the Holder. Without limiting the generality of the foregoing, the
Company (i) shall not increase the par value of any shares of Series E Convertible Preferred Stock receivable upon the exercise
of this Warrant above the Exercise Price then in effect and (ii) shall take all such actions as may be reasonably necessary or
appropriate in order that the Company may validly and legally issue fully paid and nonassessable shares of Series E Convertible
Preferred Stock upon the exercise of this Warrant.

 

6.
WARRANT HOLDER NOT DEEMED A STOCKHOLDER. Except as otherwise specifically provided herein, the Holder, solely in
its capacity as a holder of this Warrant, shall not be entitled to vote or receive dividends or be deemed the holder of share capital
of the Company for any purpose, nor shall anything contained in this Warrant be construed to confer upon the Holder, solely in
its capacity as the Holder of this Warrant, any of the rights of a stockholder of the Company or any right to vote, give or withhold
consent to any corporate action (whether any reorganization, issue of stock, reclassification of stock, consolidation, merger,
conveyance or otherwise), receive notice of meetings, receive dividends or subscription rights, or otherwise, prior to the issuance
to the Holder of the Warrant Shares which it is then entitled to receive upon the due exercise of this Warrant. In addition, nothing
contained in this Warrant shall be construed as imposing any liabilities on the Holder to purchase any securities (upon exercise
of this Warrant or otherwise) or as a stockholder of the Company, whether such liabilities are asserted by the Company or by creditors
of the Company. Notwithstanding this Section 6, the Company shall provide the Holder with copies of the same notices and other
information given to the stockholders of the Company generally, contemporaneously with the giving thereof to the stockholders.

 

    4

     

    

 

7.
REISSUANCE OF WARRANTS.

 

(a) Transfer of Warrant.
If this Warrant is to be transferred, the Holder shall surrender this Warrant to the Company, whereupon the Company will forthwith
issue and deliver upon the order of the Holder a new Warrant (in accordance with Section 7(d)), registered as the Holder may request,
representing the right to purchase the number of Warrant Shares being transferred by the Holder and, if less than the total number
of Warrant Shares then underlying this Warrant is being transferred, a new Warrant (in accordance with Section 7(d)) to the Holder
representing the right to purchase the number of Warrant Shares not being transferred.

 

(b) Lost, Stolen
or Mutilated Warrant. Upon receipt by the Company of evidence reasonably satisfactory to the Company of the loss, theft, destruction
or mutilation of this Warrant (as to which a written certification and the indemnification contemplated below shall suffice as
such evidence), and, in the case of loss, theft or destruction, of any indemnification undertaking by the Holder satisfactory to
the Company and, in the case of mutilation, upon surrender and cancellation of this Warrant, the Company shall execute and deliver
to the Holder a new Warrant (in accordance with Section 7(d)) representing the right to purchase the Warrant Shares then underlying
this Warrant.

 

(c) Exchangeable
for Multiple Warrants. This Warrant is exchangeable, upon the surrender hereof by the Holder at the principal office of the
Company, for a new Warrant or Warrants (in accordance with Section 7(d)) representing in the aggregate the right to purchase the
number of Warrant Shares then underlying this Warrant, and each such new Warrant will represent the right to purchase such portion
of such Warrant Shares as is designated by the Holder at the time of such surrender; provided, however, no warrants for fractional
shares of Series E Convertible Preferred Stock shall be given.

 

(d) Issuance of New
Warrants. Whenever the Company is required to issue a new Warrant pursuant to the terms of this Warrant, such new Warrant (i)
shall be of like tenor with this Warrant, (ii) shall represent, as indicated on the face of such new Warrant, the right to purchase
the Warrant Shares then underlying this Warrant (or in the case of a new Warrant being issued pursuant to Sections 7(a) or 7(c),
the Warrant Shares designated by the Holder which, when added to the number of shares of Series E Convertible Preferred Stock underlying
the other new Warrants issued in connection with such issuance, does not exceed the number of Warrant Shares then underlying this
Warrant), (iii) shall have an issuance date, as indicated on the face of such new Warrant which is the same as the Issuance Date,
and (iv) shall have the same rights and conditions as this Warrant.

 

8.
NOTICES. Except as may be otherwise provided herein, all notices, requests, waivers and other communications made
pursuant to this Warrant shall be in writing to the addresses set forth on the signature pages hereof and shall be deemed effectively
given: (i) upon personal delivery to the party to be notified, (ii) when sent by confirmed electronic mail or facsimile if sent
during normal business hours of the recipient; if not, then on the next business day, (iii) five days after having been sent by
registered or certified mail, return receipt requested, postage prepaid, or (iv) one (1) day after deposit with an internationally
recognized overnight courier, specifying next day delivery, with written verification of receipt.

 

9.
NOTICES OF CERTAIN CORPORATE ACTIONS. The Company shall provide the Holder with prompt written notice of all actions
taken pursuant to this Warrant, including in reasonable detail a description of such action and the reason therefor. Without limiting
the generality of the foregoing, the Company will give written notice to the Holder (i) immediately upon each adjustment of the
Exercise Price and the number of Warrant Shares, setting forth in reasonable detail, and certifying, the calculation of such adjustment(s)
and (ii) at least fifteen (15) days prior to the date on which the Company closes its books or takes a record (A) with respect
to any dividend or distribution upon the shares of Series E Convertible Preferred Stock, (B) with respect to any grants, issuances
or sales of any Options, Convertible Securities or rights to purchase stock, warrants, securities or other property to holders
of shares of Series E Convertible Preferred Stock or (C) for determining rights to vote with respect to any Fundamental Transaction,
dissolution or liquidation, provided in each case that such information shall be made known to the public prior to or in conjunction
with such notice being provided to the Holder and (iii) at least ten (10) Business Days prior to the consummation of any Fundamental
Transaction.

 

    5

     

    

 

10.
AMENDMENT AND WAIVER. Except as otherwise provided herein, the provisions of this Warrant may be amended and the
Company may take any action herein prohibited, or omit to perform any act herein required to be performed by it, only if the Company
has obtained the written consent of the Holder. No waiver shall be effective unless it is in writing and signed by an authorized
representative of the waiving party.

 

11.
SEVERABILITY. If any provision of this Warrant is prohibited by law or otherwise determined to be invalid or unenforceable
by a court of competent jurisdiction, the provision that would otherwise be prohibited, invalid or unenforceable shall be deemed
amended to apply to the broadest extent that it would be valid and enforceable, and the invalidity or unenforceability of such
provision shall not affect the validity of the remaining provisions of this Warrant so long as this Warrant as so modified continues
to express, without material change, the original intentions of the parties as to the subject matter hereof and the prohibited
nature, invalidity or unenforceability of the provision(s) in question does not substantially impair the respective expectations
or reciprocal obligations of the parties or the practical realization of the benefits that would otherwise be conferred upon the
parties. The parties will endeavor in good faith negotiations to replace the prohibited, invalid or unenforceable provision(s)
with a valid provision(s), the effect of which comes as close as possible to that of the prohibited, invalid or unenforceable provision(s).

 

12.
GOVERNING LAW. This Warrant shall be governed by and construed and enforced in accordance with, and all questions
concerning the construction, validity, interpretation and performance of this Warrant shall be governed by, the internal laws of
the State of New York, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of
New York or any other jurisdictions) that would cause the application of the laws of any jurisdictions other than the State of
New York.

 

13.
REMEDIES, CHARACTERIZATION, OTHER OBLIGATIONS, BREACHES AND INJUNCTIVE RELIEF. The remedies provided in this Warrant
shall be cumulative and in addition to all other remedies available under this Warrant at law or in equity (including a decree
of specific performance and/or other injunctive relief), and nothing herein shall limit the right of the Holder to pursue actual
damages for any failure by the Company to comply with the terms of this Warrant. The Company covenants to the Holder that there
shall be no characterization concerning this instrument other than as expressly provided herein. Amounts set forth or provided
for herein with respect to payments, exercises and the like (and the computation thereof) shall be the amounts to be received by
the Holder and shall not, except as expressly provided herein, be subject to any other obligation of the Company (or the performance
thereof). The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Holder and
that the remedy at law for any such breach may be inadequate. The Company therefore agrees that, in the event of any such breach
or threatened breach, the holder of this Warrant shall be entitled, in addition to all other available remedies, to an injunction
restraining any breach, without the necessity of showing economic loss and without any bond or other security being required. The
Company shall provide all information and documentation to the Holder that is requested by the Holder to enable the Holder to confirm
the Company’s compliance with the terms and conditions of this Warrant (including, without limitation, compliance with Section
2 hereof). The issuance of shares and certificates for shares as contemplated hereby upon the exercise of this Warrant shall be
made without charge to the Holder or such shares for any issuance tax or other costs in respect thereof, provided that the Company
shall not be required to pay any tax which may be payable in respect of any transfer involved in the issuance and delivery of any
certificate in a name other than the Holder or its agent on its behalf.

 

    6

     

    

 

14.
TRANSFER. This Warrant may not be offered for sale, sold, transferred or assigned by the Holder except in a manner
consistent with the restrictive legend on the first page of this Warrant; provided, however, that no such assignment
shall relieve the Holder of its obligations hereunder if such assignee fails to perform such obligations.

 

15.
CERTAIN DEFINITIONS. For purposes of this Warrant, the following terms shall have the following meanings:

 

(a) “Affiliate”
means any person or entity that, directly or indirectly through one or more intermediaries, controls or is controlled by or is
under common control with a person or entity, as such terms are used in and construed under Rule 144 under the Securities Act.
With respect to a Holder, any investment fund or managed account that is managed on a discretionary basis by the same investment
manager as such Holder will be deemed to be an Affiliate of such Holder.

 

(b) “Business
Day” means any day other than Saturday, Sunday or other day on which commercial banks in the city of New York, New
York are authorized or required by law to remain closed.

 

(c) “Common
Stock” means the common stock of the Company.

 

(d) “Common
Stock Equivalent” means any Convertible Security or warrant, Option or other right to subscribe for or purchase any
share of Common Stock, Series E Convertible Preferred Stock or any Convertible Security.

 

(e) “Convertible
Securities” means any stock or other security (other than Options) that is at any time and under any circumstances,
directly or indirectly, convertible into, exercisable or exchangeable for, or which otherwise entitles the holder thereof to acquire,
any shares of Common Stock or Series E Convertible Preferred Stock.

 

(f) “Fundamental
Transaction” means that (i) the Company or any of its subsidiaries shall, directly or indirectly, in one or more
related transactions, (1) consolidate or merge with or into (whether or not the Company or any of its subsidiaries is the surviving
corporation) any other Person, or (2) sell, lease, license, assign, transfer, convey or otherwise dispose of all or substantially
all of its respective properties or assets to any other Person, or (3) allow any other Person to make a purchase, tender or exchange
offer that is accepted by the holders of more than 50% of the outstanding shares of Voting Stock of the Company (not including
any shares of Voting Stock of the Company held by the Person or Persons making or party to, or associated or affiliated with the
Persons making or party to, such purchase, tender or exchange offer), or (4) consummate a stock or share purchase agreement or
other business combination (including, without limitation, a reorganization, recapitalization, spin-off or scheme of arrangement)
with any other Person whereby such other Person acquires more than 50% of the outstanding shares of Voting Stock of the Company
(not including any shares of Voting Stock of the Company held by the other Person or other Persons making or party to, or associated
or affiliated with the other Persons making or party to, such stock or share purchase agreement or other business combination),
or (5) reorganize, recapitalize or reclassify the Common Stock, or (ii) any “person” or “group” (as these
terms are used for purposes of Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”) and the rules and regulations promulgated thereunder) is or shall become the “beneficial owner”
(as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of 50% of the aggregate ordinary voting power represented
by issued and outstanding Voting Stock of the Company.

 

    7

     

    

 

(g) “Per
Share Market Value” means on any particular date (a) the closing sales price per share of the Series E Convertible
Preferred Stock on such date on any registered national securities exchange on which the Series E Convertible Preferred Stock is
then listed, or if there is no such closing sales price on such date, then the closing sales price on such exchange on the date
nearest preceding such date, or (b) if the Series E Convertible Preferred Stock is not then listed on a registered national securities
exchange, the closing sales price for a share of Series E Convertible Preferred Stock in the over-the-counter market, as reported
by the OTC Bulletin Board or the OTC Markets Group, Inc. (or similar organization or agency succeeding to its functions of reporting
prices) at the close of business on such date, or (c) if the Series E Preferred Stock is not then reported by the OTC Bulletin
Board or the OTC Markets Group, Inc. (or similar organization or agency succeeding to its functions of reporting prices), the fair
market value of a share of Series E Convertible Preferred Stock as determined by the Company’s board of directors, acting
in good faith. In determining the fair market value of any shares of Series E Convertible Preferred Stock no consideration shall
be given to any restrictions on transfer of the Series E Convertible Preferred Stock imposed by agreement or by federal or state
securities laws, or to the existence or absence of, or any limitations on, voting rights.

 

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

 

(i) “Person”
means an individual, a limited liability company, a partnership, a joint venture, a corporation, a trust, an unincorporated organization,
any other entity or a government or any department or agency thereof.

 

(j) “Series
E Convertible Preferred Stock” means the Series E Convertible Preferred Stock of the Company.

 

(k) “Voting
Stock” of a Person means capital stock of such Person of the class or classes pursuant to which the holders thereof
have the general voting power to elect, or the general power to appoint, at least a majority of the board of directors, managers
or trustees of such Person (irrespective of whether or not at the time capital stock of any other class or classes shall have or
might have voting power by reason of the happening of any contingency).

 

[signature page follows]

 

    8

     

    

 

IN WITNESS WHEREOF,
the Company and the Holder have caused this Warrant to Purchase Capital Stock to be duly executed as of the Issuance Date set out
above.

 

	 	NanoVibronix, Inc. 
	 	 
	 	By:	/s/ Stephen
    Brown                           
	 	 	Name: Stephen Brown
	 	 	Title: CFO
			
	 	

                     

                    Address: 

	 	 
	 	NANOVIBRONIX, INC.
	 	525 EXECUTIVE BOULEVARD
	 	ELMSFORD NY 10523
	 	 
	 	[_________________]
	 	 
	 	By: 	
	 	 	Name:
	 	 	Title:

 

	 	Address: 	 

 

    9

     

    

 

EXHIBIT
A

 

EXERCISE NOTICE

TO BE EXECUTED BY THE REGISTERED HOLDER
TO EXERCISE THIS

WARRANT TO PURCHASE CAPITAL STOCK

 

NanoVibronix,
Inc.

 

The undersigned holder
hereby exercises the right to purchase _________________ of the shares of Series E Convertible Preferred Stock (“Warrant
Shares”) of NanoVibronix, Inc., a Delaware corporation (the “Company”), evidenced by Warrant
No. _______ (the “Warrant”). Capitalized terms used herein and not otherwise defined shall have the respective
meanings set forth in the Warrant.

 

1. Payment of Exercise
Price. The Holder shall pay the Aggregate Exercise Price in the sum of $___________________ to the Company in accordance with
the terms of the Warrant.

 

2. Delivery of Warrant
Shares. The Company shall deliver to Holder, or its designee or agent as specified below, ___________ shares of Series E Convertible
Preferred Stock in accordance with the terms of the Warrant. Delivery shall be made to Holder, or for its benefit, to the following
address:

 

_______________________

_______________________

_______________________

_______________________

 

Date: _______________ __, ______

 

 

_____________________________________________

Name of Registered Holder

 

By:  _______________________________________

Name:

Title:

 

 

10Exhibit 10.1

 

SECURITIES PURCHASE AGREEMENT

 

THIS SECURITIES PURCHASE AGREEMENT
(this “Agreement”), dated as of June 21, 2019, by and among NanoVibronix, Inc., a Delaware corporation with
headquarters located at 525 Executive Boulevard Elmsford, New York 10523 (the “Company”), and each investor
identified on the signature pages hereto (individually, an “Investor” and collectively, the “Investors”).

 

BACKGROUND

 

A. The Company and
each Investor are executing and delivering this Agreement in reliance upon the exemption from registration afforded by Section 4(a)(2)
of the Securities Act of 1933, as amended (the “Securities Act”), and Rule 506 of Regulation D (“Regulation
D”) as promulgated by the United States Securities and Exchange Commission (the “SEC”) under the Securities
Act.

 

B.
Each Investor, severally and not jointly, wishes to purchase, and the Company wishes to sell, upon the terms and conditions stated
in this Agreement, that number of shares of the Preferred Stock (as hereinafter defined) and Warrants (as hereinafter defined),
to acquire up to that number of shares of Preferred Stock set forth on such Investor’s signature
page to this Agreement, which in aggregate shall equal up to 1,999,746 shares of Preferred Stock for a purchase price per share
equal to $2.00, and Warrants to purchase an aggregate of 1,999,746 shares of Preferred Stock. The Company’s agreement with
each Investor is a separate agreement, and the sale and issuance of the Preferred Stock and Warrant to each Investor is a separate
sale and issuance

 

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

 

ARTICLE I

DEFINITIONS

 

1.1 Definitions.
In addition to the terms defined elsewhere in this Agreement, the following terms have the meanings indicated:

 

“8-K Filing”
has the meaning set forth in Section 4.4.

 

“Affiliate”
means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common
control with a Person, as such terms are used in and construed under Rule 144 under the Securities Act.

 

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

 

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

 

“Certificate
of Designation” means the certificate of designation of the Preferred Stock to be filed prior to the Initial Closing
by the Company with the Secretary of State of the State of Delaware substantially in the form of Annex B.

 

     

     

    

 

“Closing”
has the meaning set forth in Section 2.1(a).

 

“Closing Date”
has the meaning set forth in Section 2.1(a).

 

“Common Stock”
means the common stock of the Company, par value $0.001 per share.

 

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

 

“Conversion
Shares” has the meaning set forth in the Certificate of Designation.

 

“Disqualification
Event” has the meaning set forth in Section 3.1(g).

 

“Effective
Date” means the date that a Registration Statement is first declared effective by the SEC.

 

“Effectiveness
Period” has the meaning set forth in Section 5.1(b).

 

“Eligible
Market” means any of the New York Stock Exchange, the NYSE American, the NASDAQ Global Select Market, the NASDAQ
Global Market, the NASDAQ Capital Market or OTC Markets.

 

“Event”
has the meaning set forth in Section 5.1(e).

 

“Event Payments”
has the meaning set forth in Section 5.1(e).

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended.

 

“Filing Date”
means the date that is sixty (60) days after the Stockholder Approval Date or, if such date is not a
Business Day, the next date that is a Business Day.

 

“Indemnified
Party” has the meaning set forth in Section 5.5(c).

 

“Indemnifying
Party” has the meaning set forth in Section 5.5(c).

 

“Initial Closing”
has the meaning set forth in Section 2.1(a).

 

“Initial Closing
Date” has the meaning set forth in Section 2.1(a)

 

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

 

“Issuer Covered
Person” has the meaning set forth in Section 3.1(g).

 

“Lien”
means any lien, charge, claim, security interest, encumbrance, right of first refusal or other restriction.

 

“Losses”
means any and all losses, claims, damages, liabilities, settlement costs and expenses, including, without limitation, reasonable
attorneys’ fees.

 

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“Material
Adverse Effect” means any of (i) a material adverse effect on the results of operations, assets, business, prospects
or financial condition of the Company and the Subsidiaries taken as a whole on a consolidated basis, (ii) an adverse impairment
of the Company’s ability to perform its obligations under any of the Transaction Documents or (iii) an adverse effect on
the legality, validity or enforceability of any of the Transaction Documents, provided, that none of the following alone shall
be deemed, in and of itself, to constitute a Material Adverse Effect: (y) a change in the market price or trading volume of the
Common Stock or (z) changes in general economic conditions or changes affecting the industry in which the Company operates generally
(as opposed to Company-specific changes) so long as such changes do not have a disproportionate effect on the Company and its Subsidiaries
taken as a whole.

 

“Person”
means an individual, a limited liability company, a partnership, a joint venture, a corporation, a trust, an unincorporated organization,
a government or any department or agency thereof and any other legal entity.

 

“Preferred
Stock” means up to 1,999,746 shares of the Company’s Series E Convertible Preferred Stock issued hereunder
or pursuant to the Warrants and having the rights, preferences and privileges set forth in the Certificate of Designation, in the
form of Annex B hereto.

 

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

 

“Prospectus”
means the prospectus included in the Registration Statement (including, without limitation, a prospectus that includes any information
previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A, as amended
or supplemented by any prospectus supplement, with respect to the terms of the offering of any portion of the Registrable Securities
covered by the Registration Statement, and all other amendments and supplements to the Prospectus including post-effective amendments,
and all material incorporated by reference or deemed to be incorporated by reference in such Prospectus.

 

“Registrable
Securities” means the Conversion Shares issued or issuable pursuant to the Preferred Stock, together with any securities
issued or issuable upon any stock split, dividend or other distribution, recapitalization or similar event with respect to the
foregoing.

 

“Registration
Statement” means each registration statement required to be filed under Article VI, including (in each case) the
Prospectus, amendments and supplements to such registration statement or Prospectus, including pre- and post-effective amendments,
all exhibits thereto, and all material incorporated by reference or deemed to be incorporated by reference in such registration
statement.

 

“Regulation
D” has the meaning set forth in the Preamble.

 

“Required
Effectiveness Date” means the date which is, (i) if there is no review of the Registration Statement by the SEC,
one hundred and twenty (120) days after the Stockholder Approval Date or, if such date is not a Business
Day, the next date that is a Business Day, or, (ii) if there is a review of the Registration Statement by the SEC, one hundred
and fifty (150) days after the date of the Stockholder Approval Date or, if such date is not a Business
Day, the next date that is a Business Day.

 

“Rule 144,”
“Rule 415,” “Rule 424,” and “Rule 430A” means Rule 144,
Rule 415, Rule 424 and Rule 430A, respectively, promulgated by the SEC pursuant to the Securities Act, as such Rules
may be amended from time to time, or any similar rule or regulation hereafter adopted by the SEC having substantially the same
effect as such Rule.

 

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

 

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“SEC Comments”
means written comments pertaining solely to Rule 415 which are received by the Company from the SEC, and a copy of which shall
have been provided by the Company to the Investors, to a filed Registration Statement which require the Company to limit the amount
of Registrable Securities which may be included therein to a number of Registrable Securities, which is less than such amount sought
to be included thereon as filed with the SEC.

 

“Securities”
means the Preferred Stock, the Warrants and the Conversion Shares.

 

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

 

“Stockholder
Approval” has the meaning set forth in Section 4.5.

 

“Stockholder
Approval Date” has the meaning set forth in Section 4.5.

 

“Stockholder
Meeting” has the meaning set forth in Section 4.5.

 

“Stockholder
Resolutions” has the meaning set forth in Section 4.5.

 

“Subsequent
Closing Date” has the meaning set forth in Section 2.1(b).

 

“Subsidiary”
means NanoVibronix Ltd.

 

“Trading Day”
means (i) a day on which the Common Stock is traded on a Trading Market (other than the OTCQX or OTCQB), or (ii) if the Common
Stock is not listed or quoted on a Trading Market (other than the OTCQX or OTCQB), a day on which the Common Stock is traded in
the over-the-counter market, as reported by the OTCQX or OTCQB, or (iii) if the Common Stock is not listed or quoted on any Trading
Market, a day on which the Common Stock is quoted in the over-the-counter market as reported by OTC Markets Group Inc. (or any
similar organization or agency succeeding to its functions of reporting prices); provided, that in the event that the Common Stock
is not listed or quoted as set forth in (i), (ii) and (iii) hereof, then Trading Day shall mean a Business Day.

 

“Trading Market”
means whichever of the New York Stock Exchange, the NYSE MKT, the NASDAQ Global Select Market, the NASDAQ Global Market, the NASDAQ
Capital Market or OTCQX or OTCQB on which the Common Stock is listed or quoted for trading on the date in question.

 

“Transaction
Documents” means this Agreement, the schedules and exhibits attached hereto, the Certificate of Designation and the Warrants.

 

ARTICLE II

PURCHASE AND SALE

 

2.1 Closing.

 

(a) The purchase,
sale and issuance of the Preferred Stock and the Warrants shall take place at one or more closings (each of which is referred to
in this Agreement as a “Closing” and the date of each is referred to in this Agreement as a “Closing
Date”). The initial Closing (the “Initial Closing”) shall take place at the offices of Troutman Sanders
LLP, 875 Third Avenue, New York, New York 10022, or such other location as the parties shall mutually agree no later than the second
business day following the satisfaction or waiver of the conditions provided in Article VI of this Agreement (“Initial
Closing Date”).

 

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(b) If less
than all of the Preferred Stock and Warrants are sold and issued at the Initial Closing, then, subject to the terms and conditions
of this Agreement, the Company may sell and issue at one or more subsequent closings (each, a “Subsequent Closing”),
within thirty (30) days after the Initial Closing, up to the balance of the unissued Preferred Stock and Warrants to such persons
or entities as may be approved by the Company in its sole discretion. Any such sale and issuance in a Subsequent Closing shall
be on the same terms and conditions as those contained herein, and such persons or entities shall, upon execution and delivery
of the relevant signature pages, become parties to, and be bound by, this Agreement and the other Transaction Documents, without
the need for an amendment to any of the Transaction Documents except to add such person’s or entity’s name to the appropriate
exhibit to such Transaction Documents, and shall have the rights and obligations hereunder and thereunder, in each case as of the
date of the applicable Subsequent Closing. Each Subsequent Closing shall take place at such date, time and place as shall be approved
by the Company in its sole discretion.

 

2.2 Closing Deliveries.

 

(a) At each
Closing, the Company shall deliver or cause to be delivered to each Investor the following:

 

(i)
one or more certificates evidencing a number of shares of Preferred Stock set forth on such Investor’s
signature page to this Agreement, registered in the name of such Investor, and evidence of the filing and acceptance of
the Certificate of Designation from the Secretary of State of Delaware;

 

(ii) a Warrant, duly
executed by the Company, to purchase such number of shares of Preferred Stock set forth in such Investor’s signature page
to this Agreement, registered in the name of such Investor.

 

(b) At each
Closing, each Investor shall deliver or cause to be delivered to the Company the aggregate purchase price set forth on such Investor’s
signature page to this Agreement in United States dollars and in immediately available funds, by wire transfer to an account designated
in writing to such Investor by the Company for such purpose.

 

ARTICLE III

REPRESENTATIONS AND WARRANTIES

 

3.1
Representations and Warranties of the Company. The Company hereby represents and warrants to the Investors:

 

(a) Subsidiary.
The Company owns or controls, directly or indirectly, all of the capital stock or comparable equity interests of the Subsidiary
free and clear of any Lien and all issued and outstanding shares of capital stock or comparable equity interest of the Subsidiary
are validly issued and are fully paid, non-assessable and free of preemptive and similar rights.

 

(b) Organization
and Qualification. Each of the Company and the Subsidiary is an entity duly organized, validly existing and in good standing
under the laws of the jurisdiction of its organization, with the requisite legal authority to own and use its properties and assets
and to carry on its business as currently conducted. Neither the Company nor the Subsidiary is in violation of any of the provisions
of its respective certificate or articles of incorporation, bylaws or other organizational or charter documents. The Company and
the Subsidiary is duly qualified to do business and is in good standing as a foreign corporation or other entity in each jurisdiction
in which the nature of the business conducted or property owned by it makes such qualification necessary, except where the failure
to be so qualified or in good standing, as the case may be, would not, individually or in the aggregate, have or reasonably be
expected to result in a Material Adverse Effect.

 

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(c)
Authorization; Enforcement. The Company has the requisite corporate authority to enter into and to consummate the transactions
contemplated by each of the Transaction Documents and otherwise to carry out its obligations hereunder and thereunder. The execution
and delivery of each of the Transaction Documents by the Company and the consummation by it of the transactions contemplated hereby
and thereby have been duly authorized by all necessary corporate action on the part of the Company and no further consent or action
is required to be obtained or taken, as the case may be, by the Company, its Board of Directors or its stockholders. Each of the
Transaction Documents has been (or upon delivery will be) duly executed by the Company and is, or when delivered in accordance
with the terms hereof, will constitute, the valid and binding obligation of the Company enforceable against the Company in accordance
with its terms, except (i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization,
moratorium and other laws of general application affecting enforcement of creditors’ rights generally, (ii) as limited by
laws relating to the availability of specific performance, injunctive relief or other equitable remedies and (iii) insofar as indemnification
and contribution provisions may be limited by applicable law.

 

(d) No
Conflicts. The execution, delivery and performance of the Transaction Documents by the Company and the consummation by the
Company of the transactions contemplated hereby and thereby do not, and will not, (i) conflict with or violate any provision
of the Company’s or the Subsidiary’s certificate or articles of incorporation, bylaws or other organizational or charter
documents, (ii) conflict with, or constitute a default (or an event that with notice 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 a Company or Subsidiary debt or
otherwise) or other understanding to which the Company or the Subsidiary is a party or by which any property or asset of the Company
or the Subsidiary is bound, or affected, except to the extent that such conflict, default, termination, amendment, acceleration
or cancellation right would not reasonably be expected to have a Material Adverse Effect, or (iii) result in a violation of any
law, rule, regulation, order, judgment, injunction, decree or other restriction of any court or governmental authority to which
the Company or the Subsidiary is subject (including, assuming the accuracy of the representations and warranties of the Investors
set forth in Section 3.2 hereof, federal and state securities laws and regulations and the rules and regulations of any
self-regulatory organization to which the Company or its securities are subject, including all applicable Trading Markets), or
by which any property or asset of the Company or the Subsidiary are bound or affected.

 

(e)
Filings, Consents, and Approvals. The Company is not required to obtain any consent, waiver, authorization or order
of, give any notice to, or make any filing or registration with, any court or other federal, state, local or other governmental
authority or other Person in connection with the execution, delivery and performance by the Company of the Transaction Documents
other than (i) the filing of the Certificate of Designation with the applicable authorities of the State of Delaware, (ii) the
filing with the SEC of one or more Registration Statements in accordance with the requirements of this Agreement, (iii) the filing
of a Notice of Sale on Form D with the SEC, (iv) filings required by applicable state or blue sky securities laws, (v) the filing
of any requisite notices and/or application(s) to the Trading Market for the issuance and sale of the Securities, (vi) the filings
or furnishings required in accordance with Section 4.4 of this Agreement, and (vii) such filings and authorizations required
in connection with Stockholder Approval. Except as otherwise explicitly contemplated Section 4.5 of this Agreement, no approval
from the holders of outstanding shares of Common Stock is required by applicable law, the articles of incorporation or bylaws of
the Company or the rules of the Trading Market (that are effective on the Company) in connection with the Company’s issuance
and sale of the Securities to the Investors, including, without limitation, the conversion of the Notes and the Preferred Stock.

 

    6 

     

    

 

(f)
The Securities. The Preferred Stock is duly authorized and, when issued and paid for in accordance with the applicable Transaction
Documents (whether under this Agreement or upon exercise of the Warrants), will be duly and validly issued, fully paid and nonassessable,
free and clear of all Liens and will not be subject to preemptive or similar rights of stockholders (other than those imposed by
the Investors). The Conversion Shares are duly authorized and, when issued following Conversion
of the Preferred Stock, will be duly and validly issued, fully paid and nonassessable, free and clear of all Liens and will not
be subject to preemptive or similar rights of stockholders (other than those imposed by the Investors). The Warrants, when
duly executed and delivered by the Company, will constitute the legal, valid and binding obligations of the Company, enforceable
against the Company in accordance with their terms.

 

(g)
No Disqualification Events. None of the Company and its predecessors and affiliated issuers, and the directors, executive
officers and other officers of the Company participating in the offering contemplated hereby, the beneficial owners of 20% or more
of the Company’s outstanding voting equity securities, calculated on the basis of voting power, the promoters (as that term
is defined in Rule 405 under the Securities Act), if any, connected with the Company in any capacity at the time of sale, and the
Persons, if any, that has been or will be paid (directly or indirectly) remuneration for solicitation of purchasers in connection
with the sale of Securities (each, an “Issuer Covered Person”) is subject to any of the “Bad Actor”
disqualifications described in Rule 506(d)(1)(i) to (viii) under the Securities Act (a “Disqualification Event”).
The Company has exercised reasonable care to determine whether any Issuer Covered Person is subject to a Disqualification Event.
There are no matters that would have triggered disqualification under Rule 506(d)(1) under the Securities Act that occurred before
September 23, 2013.

 

(h) No
General Solicitation; Placement Agent’s Fees. Neither the Company, nor any of its Affiliates, nor any Person acting on
its or their behalf, has engaged in any form of general solicitation or general advertising (within the meaning of Regulation D)
in connection with the offer or sale of the Securities. The Company shall be responsible for the payment of any placement agent’s
fees, financial advisory fees, or brokers’ commission (other than for persons engaged by any Investor or its investment advisor)
relating to or arising out of the issuance of the Securities pursuant to this Agreement. The Company shall pay, and hold each Investor
harmless against, any liability, loss or expense (including, without limitation, reasonable attorney’s fees and out-of-pocket
expenses) arising in connection with any such claim for fees arising out of the issuance of the Securities pursuant to this Agreement.

 

(i)
Private Placement. Neither the Company nor any of its Affiliates nor, to the Company’s Knowledge, any Person acting
on the Company’s behalf has, directly or indirectly, at any time within the past six months, made any offer or sale of any
security or solicitation of any offer to buy any security under circumstances that would (i) eliminate the availability of
the exemption from registration under Regulation D under the Securities Act in connection with the offer and sale by the Company
of the Securities as contemplated hereby or (ii) cause the offering of the Securities pursuant to the Transaction Documents
to be integrated with prior offerings by the Company for purposes of any applicable law, regulation or stockholder approval provisions,
including, without limitation, under the rules and regulations of any Trading Market. Assuming the accuracy of the representations
and warranties of the Investors set forth in Section 3.2, no registration under the Securities Act is required for the offer
and sale of the Securities by the Company to the Investors as contemplated hereby.

 

    7 

     

    

 

(j) Form
S-3 Eligibility. The Company is eligible to register the Conversion Shares for resale by the Investors using Form S-3 promulgated
under the Securities Act.

 

(k)
Sarbanes-Oxley Act. The Company is in compliance in all material respects with applicable requirements of the Sarbanes-Oxley
Act of 2002 and applicable rules and regulations promulgated by the SEC thereunder. The Company maintains disclosure controls
and procedures (as such term is defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act).

 

(l) Internal
Accounting Control. Each of the Company and the Subsidiaries maintain effective internal control over financial reporting,
as such term is defined in Rule 13a-15(f) under the Exchange Act.

 

3.2 Representations
and Warranties of the Investors. Each Investor hereby, as to itself only and for no other Investor, represents and warrants
to the Company as follows:

 

(a) No
Public Sale or Distribution. Such Investor is acquiring the Securities in the ordinary course of business for its own account
and not with a view towards, or for resale in connection with, the public sale or distribution thereof, except pursuant to sales
registered under the Securities Act or under an exemption from such registration and in compliance with applicable federal and
state securities laws, and such Investor does not have a present arrangement to effect any distribution of the Securities to or
through any person or entity; provided, however, that by making the representations herein, such Investor does not
agree to hold any of the Securities for any minimum or other specific term and reserves the right to dispose of the Securities
at any time in accordance with or pursuant to a registration statement or an exemption under the Securities Act.

 

(b) Investor
Status. At the time such Investor was offered the Securities, it was, and at the date hereof it is, an “accredited investor”
as defined in Rule 501(a) under the Securities Act or a “qualified institutional buyer” as defined in Rule 144A(a)
under the Securities Act. Such Investor is not a registered broker dealer registered under Section 15(a) of the Exchange Act, or
a member of the Financial Industry Regulatory Authority, Inc. or an entity engaged in the business of being a broker dealer. Except
as otherwise disclosed in writing to the Company on Exhibit A-2 (attached hereto) on or prior to the date of this Agreement,
such Investor is not affiliated with any broker dealer registered under Section 15(a) of the Exchange Act, or a member of the Financial
Industry Regulatory Authority, Inc. or an entity engaged in the business of being a broker dealer.

 

(c) General
Solicitation. Such Investor is not purchasing the Securities as a result of any advertisement, article, notice or other communication
regarding the Securities published in any newspaper, magazine or similar media, broadcast over television or radio, disseminated
over the Internet or presented at any seminar or any other general solicitation or general advertisement.

 

(d) Experience
of Such Investor. Such Investor, either alone or together with its representatives has such knowledge, sophistication and experience
in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment in the Securities,
and has so evaluated the merits and risks of such investment. Such Investor understands that it must bear the economic risk of
this investment in the Securities indefinitely, and is able to bear such risk and is able to afford a complete loss of such investment.

 

    8 

     

    

 

(e) Access
to Information. Such Investor acknowledges that it has reviewed the Disclosure Materials and has been afforded: (i) the
opportunity to ask such questions as it has deemed necessary of, and to receive answers from, representatives of the Company concerning
the terms and conditions of the offering of the Securities and the merits and risks of investing in the Securities; (ii) access
to information about the Company and each Subsidiary and their respective financial condition, results of operations, business,
properties, management and prospects sufficient to enable it to evaluate its investment; and (iii) the opportunity to obtain
such additional information that the Company possesses or can acquire without unreasonable effort or expense that is necessary
to make an informed investment decision with respect to the investment. Neither such inquiries nor any other investigation conducted
by or on behalf of such Investor or its representatives or counsel shall modify, amend or affect such Investor’s right to
rely on the truth, accuracy and completeness of the Disclosure Materials and the Company’s representations and warranties
contained in the Transaction Documents. Such Investor acknowledges receipt of copies of the SEC Reports.

 

(f) No
Governmental Review. Such Investor understands that no United States federal or state agency or any other government or governmental
agency has passed on or made any recommendation or endorsement of the Securities or the fairness or suitability of the investment
in the Securities nor have such authorities passed upon or endorsed the merits of the offering of the Securities.

 

(g) Restricted
Securities. The Investors understand that the Securities are characterized as “restricted securities” under the
U.S. federal securities laws inasmuch as they are being acquired from the Company in a transaction not involving a public offering
and that under such laws and applicable regulations such securities may be resold without registration under the Securities Act
only in certain limited circumstances.

 

(h) Legends.
It is understood that, except as provided in Section 4.1(b) of this Agreement, certificates evidencing the Securities will
bear the legend set forth in Section 4.1(b).

 

(i) No
Legal, Tax or Investment Advice. Such Investor understands that nothing in this Agreement or any other materials presented
by or on behalf of the Company to the Investor in connection with the purchase of the Securities constitutes legal, tax or investment
advice. Such Investor has consulted such legal, tax and investment advisors as it, in its sole discretion, has deemed necessary
or appropriate in connection with its purchase of the Securities. Such Investor understands that the Agent has acted solely as
the agent of the Company in this placement of the Securities, and that the Agent makes no representation or warranty with regard
to the merits of this transaction or as to the accuracy of any information such Investor may have received in connection therewith.
Such Investor acknowledges that he has not relied on any information or advice furnished by or on behalf of the Agent.

 

ARTICLE IV

OTHER AGREEMENTS OF THE
PARTIES

 

4.1 Transfer Restrictions.

 

(a) Each of
the Investors covenants that the Securities will only be disposed of pursuant to an effective registration statement under, and
in compliance with the requirements of, the Securities Act or pursuant to an available exemption from the registration requirements
of the Securities Act, and in compliance with any applicable state securities laws. In connection with any transfer of Securities
other than pursuant to an effective registration statement or to the Company, the Company may require the transferor to provide
to the Company an opinion of counsel selected by the transferor, the form and substance of which opinion shall be reasonably satisfactory
to the Company, to the effect that such transfer does not require registration under the Securities Act. Notwithstanding the foregoing,
the Company hereby consents to and agrees to register on the books of the Company and with its Transfer Agent, without any such
legal opinion, except to the extent that the transfer agent requests such legal opinion, any transfer of Securities by an Investor
to an Affiliate of such Investor, provided that the transferee certifies to the Company that it is an “accredited investor”
as defined in Rule 501(a) under the Securities Act.

 

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(b) The Investors
agree to the imprinting, until no longer required by this Section 4.1(b), of the following legend on any certificate
evidencing any of the Securities:

 

THESE
SECURITIES [AND THE SECURITIES ISSUABLE UPON CONVERSION OF THESE SECURITIES] [AND THE
SECURITIES ISSUABLE UPON EXERCISE OF THESE SECURITIES] HAVE NOT BEEN REGISTERED WITH THE SECURITIES
AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES
ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY APPLICABLE STATE SECURITIES LAWS AND, ACCORDINGLY, MAY
NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE
EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN COMPLIANCE WITH
APPLICABLE STATE SECURITIES LAWS OR BLUE SKY LAWS. THESE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN
ACCOUNT WITH A REGISTERED BROKER-DEALER OR OTHER LOAN WITH A FINANCIAL INSTITUTION THAT IS AN “ACCREDITED INVESTOR”
AS DEFINED IN RULE 501(a) UNDER THE SECURITIES ACT OR OTHER LOAN SECURED BY SUCH SECURITIES.

 

4.2 Furnishing of
Information. Until the date that any Investor owning Securities may sell all of them under Rule 144 of the Securities Act (or
any successor provision) without volume limitations and without the requirement that there be adequate current public information
with regards to the Company, the Company covenants to use its commercially reasonable efforts to timely file (or obtain extensions
in respect thereof and file within the applicable grace period) all reports required to be filed by the Company after the date
hereof pursuant to the Exchange Act. The Company further covenants that it will take such further action as any holder of Securities
may reasonably request to satisfy the provisions of this Section 4.2.

 

4.3 Integration.
The Company shall not, and shall use its commercially reasonable efforts to ensure that no Affiliate thereof shall, sell, offer
for sale or solicit offers to buy or otherwise negotiate in respect of any security (as defined in Section 2 of the Securities
Act) that would be integrated with the offer or sale of the Securities in a manner that would require the registration under the
Securities Act of the sale of the Securities to the Investors or that would be integrated with the offer or sale of the Securities
for purposes of the rules and regulations of any Trading Market.

 

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4.4 Securities Laws
Disclosure; Publicity. The Company shall, at or before 5:30 p.m., New York time, on or prior to the fourth Trading Day following
execution of this Agreement, issue a press release disclosing all material terms of the transactions contemplated hereby. On or
prior to the second Trading Day following execution of this Agreement, the Company shall file a Current Report on Form 8-K with
the SEC (the “8-K Filing”) describing the terms of the transactions contemplated by the Transaction Documents
and including as exhibits to such Current Report on Form 8-K the material Transaction Documents (including this Agreement and the
schedules hereto, and the names, and addresses of the Investors and the number of shares of Preferred Stock and the original principal
amount of Notes respectively purchased), in the form required by the Exchange Act. Thereafter, the Company shall timely file any
filings and notices required by the SEC or applicable law with respect to the transactions contemplated hereby and provide copies
thereof to the Investors promptly after filing. Except as herein provided, neither the Company nor any Subsidiary shall publicly
disclose the name of any Investor, or include the name of any Investor in any press release without the prior written consent of
such Investor (which consent shall not be unreasonably withheld or delayed), unless otherwise required by law, regulatory authority
or Trading Market. Neither the Company nor any Subsidiary shall, nor shall any of their respective officers, directors, employees
and agents, provide any Investor with any material nonpublic information regarding the Company or any Subsidiary from and after
the issuance of the above referenced press release without the express written consent of such Investor.

 

4.5 Stockholder
Approval. The Company shall use commercially reasonable efforts to provide each stockholder entitled to vote at a special meeting
of stockholders of the Company (the “Stockholder Meeting”) a proxy statement soliciting each such stockholder’s
affirmative vote at the Stockholder Meeting for approval of resolutions (“Stockholder Resolutions”) providing
for the Company’s issuance of all of the Securities as described in the Transaction Documents in accordance with applicable
law and the rules and regulations of the Nasdaq Stock Market (such affirmative approval being referred to herein as the “Stockholder
Approval”, and the date such Stockholder Approval is obtained, the “Stockholder Approval Date”), and
the Company shall use its commercially reasonable efforts to solicit its stockholders’ approval of such Stockholder Resolutions
and shall cause the Board of Directors of the Company to recommend to the stockholders that they approve such Stockholder Resolutions.
The Company shall use its commercially reasonable efforts to cause the Stockholder Meeting to be promptly called and held not later
than ninetieth (90th) day following the Initial Closing Date. Each Investor agrees to vote all shares of Common Stock
it beneficially owns on the record date applicable to the Stockholder Meeting that are eligible to vote in connection with the
Stockholder Resolutions in favor of adopting the Stockholder Resolutions.

 

4.6 Use of Proceeds.
The Company will use the net proceeds from the sale of the Preferred Stock for working capital and general corporate purposes.

 

4.7
Register. The Company shall maintain at its principal executive offices (or such other office or agency of the Company
as it may designate by notice to each holder of Securities), a register for the Preferred Stock and the Warrants in which the Company
shall record the name and address of the Person in whose name the Preferred Stock and the Warrants have been issued (including
the name and address of each transferee), number of shares of Preferred Stock issuable upon conversion of the Warrants, the principal
amount of the Notes, the aggregate number of shares of Preferred Stock held by such Person and the number of Conversion Shares
issuable upon conversion of shares of Preferred Stock held by such Person.

 

ARTICLE V

REGISTRATION RIGHTS

 

5.1 Required Registration
Statement.

 

(a) As promptly as
possible, and in any event on or prior to the Filing Date, the Company shall prepare and file with the SEC a Registration Statement
covering the resale of all Registrable Securities for an offering to be made on a continuous basis pursuant to Rule 415. The Registration
Statement shall be on Form S-3 (except if the Company is not then eligible to register for resale the Registrable Securities on
Form S-3, in which case such registration shall be on another appropriate form in accordance with the Securities Act and the Exchange
Act).

 

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(b) The
Company shall use its commercially reasonable efforts to cause the Registration Statement to be declared effective by the SEC as
promptly as possible after the filing thereof, but in any event prior to the Required Effectiveness Date, and shall use its commercially
reasonable efforts to keep the Registration Statement continuously effective under the Securities Act until the date that all Conversion
Shares covered by such Registration Statement have been sold or can be sold publicly under Rule 144 without volume limitations
by the holders of the Registrable Securities (the “Effectiveness Period”). Upon notification by the SEC that
a Registration Statement will not be reviewed or is no longer subject to further review and comments, the Company shall request
acceleration of such Registration Statement within five (5) Trading Days after receipt of such notice and request that it
become effective no later than 4:00 p.m. New York City time on the Effective Date and file a prospectus supplement for any Registration
Statement, whether or not required under Rule 424 (or otherwise), by 9:00 a.m. New York City time the day after the Effective Date.

 

(c)
If the Company receives SEC Comments to a Registration Statement filed pursuant to Section 5.1(a), the Company shall
be obligated to use its commercially reasonable efforts to advocate with the SEC for the registration of all of the Registrable
Securities requested to be included in the Registration Statement in accordance with applicable SEC guidance. If it is determined
by the Company that all of the Registrable Securities requested to be included in a Registration Statement cannot be included due
to the SEC Comments, then the Company shall use its commercially reasonable efforts to prepare and file as expeditiously as practicable,
such number of additional Registration Statements as may be necessary in order to ensure that all Registrable Securities are covered
by an existing and effective Registration Statement. Any cutbacks of Registrable Securities from a Registration Statement filed
pursuant to Section 6.1(a), due to SEC Comments shall be applied to the Investors pro rata in accordance with the number
of such Registrable Securities sought to be included in such Registration Statement by reference to the number of such Purchaser’s
Registrable Securities relative to all outstanding Registrable Securities.

 

(d) The Company shall
notify the Investors in writing promptly (and in any event within two Trading Days) after receiving notification from the SEC that
the Registration Statement has been declared effective.

 

(e) Should an Event
(as defined below) occur, then, upon the occurrence of such Event, and on every monthly anniversary thereof until the applicable
Event is cured, the Company shall pay to each Investor an amount in cash, as liquidated damages and not as a penalty, equal to
one percent (1.0%) of the purchase price paid by such Investor for the Securities purchased under this Agreement; provided, however,
that the total amount of payments pursuant to this Section 5.1(e) shall not exceed, when aggregated with all such payments
paid to all Investors under this Section 5.1(e), five percent (5%) of the aggregate purchase price of the Securities purchased
pursuant to this Agreement. The payments to which an Investor shall be entitled pursuant to this Section 5.1(e) are referred
to herein as “Event Payments.” Any Event Payments payable pursuant to the terms hereof shall be made no later
than three (3) Business Days following the occurrence of the Event or on the monthly anniversary of such Event and shall apply
on a pro rated basis for any portion of a month prior to the cure of an Event. In the event the Company fails to make Event Payments
in a timely manner, such Event Payments shall bear interest at the rate of one percent (1.0%) per month (prorated for partial months)
until paid in full. All pro rated calculations made pursuant to this paragraph shall be based upon the actual number of days in
such pro rated month. Notwithstanding the foregoing, the maximum payment to an Investor associated with all Events in the aggregate
shall not exceed (i) in any 30-day period, an aggregate of 1.0% of the purchase price paid by such Investor for its Securities
and (ii) 5.0% of the purchase paid by such Investor for its Securities.

 

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For such purposes,
each of the following shall constitute an “Event”: (i) the Registration Statement required to be filed by Section
5.1(a) is not filed on or prior to the Filing Date; (ii) the Registration Statement required to be filed by Section 5.1(a)
is not declared effective on or prior to the Required Effectiveness Date; or (iii) the Registration Statement required to be effective
ceases for any reason to be effective at any time prior to the expiration of its Effectiveness Period for more than 20 consecutive
Trading Days in any twelve month period.

 

(f) The Company shall
not, from the date hereof until the Effective Date of the Registration Statement, prepare and file with the SEC a registration
statement relating to an offering for its own account or the account of others under the Securities Act of any of its equity securities,
other than any registration statement or post-effective amendment to a registration statement (or supplement thereto) relating
to the Company’s employee benefit plans registered on Form S-8.

 

(g)
Neither the Company nor any of its security holders (other than the Investors in such capacity
pursuant hereto) may include securities of the Company in the Registration Statement required to be filed under Section 5.1(a)
other than the Registrable Securities.

 

5.2 Effectiveness
of Registration Statement. Notwithstanding anything in this Agreement to the contrary, the Company may, by written notice to
the Investors, suspend sales under a Registration Statement after the Effective Date thereof and/or require that the Investors
immediately cease the sale of shares of Common Stock pursuant thereto and/or defer the filing of any subsequent Registration Statement
if the Board of Directors determines in good faith, by appropriate resolutions, that, the disclosure of material non-public information
concerning the Company (A) would be materially detrimental to the Company (other than as relating solely to the price of the
Common Stock) to maintain a Registration Statement at such time or (B) it is in the best interests of the Company to suspend
sales under such registration at such time. Upon receipt of such notice, each Investor shall immediately discontinue any sales
of Registrable Securities pursuant to such registration until such Investor is advised in writing by the Company that the current
Prospectus or amended Prospectus, as applicable, may be used. In no event, however, shall this right be exercised to suspend sales
beyond the period during which (in the good faith determination of the Company’s Board of Directors) the failure to require
such suspension would be materially detrimental to the Company. The Company’s rights under this Section 6.3 may be
exercised for a period of no more than 20 Trading Days at a time and not more than three times in any twelve-month period. Immediately
after the end of any suspension period under this Section 5.2, the Company shall take all necessary actions (including filing
any required supplemental prospectus) to restore the effectiveness of the applicable Registration Statement and the ability of
the Investors to publicly resell their Registrable Securities pursuant to such effective Registration Statement.

 

5.3 Registration
Procedures. In connection with the Company’s registration obligations under Sections 5.1, the Company shall:

 

(a) Not
less than three Trading Days prior to the filing of a Registration Statement or any related Prospectus or any amendment or supplement
thereto, furnish via email to those Investors who have supplied the Company with email addresses copies of all such documents and
correspondence proposed to be filed, which documents (other than any document that is incorporated or deemed to be incorporated
by reference therein) will be subject to the review of such Investors. The Company shall reflect in each such document when so
filed with the SEC such comments regarding the Investors and the plan of distribution as the Investors may reasonably and promptly
propose no later than two Trading Days after the Investors have been so furnished with copies of such documents as aforesaid. 

 

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(b) (i) Subject
to Section 5.2, prepare and file with the SEC such amendments, including post-effective amendments, to each Registration
Statement and the Prospectus used in connection therewith as may be necessary to keep the Registration Statement continuously effective,
as to the applicable Registrable Securities for the Effectiveness Period and prepare and file with the SEC such additional Registration
Statements in order to register for resale under the Securities Act all of the Registrable Securities; (ii) cause the related
Prospectus to be amended or supplemented by any required Prospectus supplement, and as so supplemented or amended to be filed pursuant
to Rule 424; (iii) respond as promptly as reasonably possible, and in any event within 15 Trading Days (except to the extent
that the Company reasonably requires additional time to respond to accounting comments), to any comments received from the SEC
with respect to the Registration Statement or any amendment thereto; and (iv) comply in all material respects with the provisions
of the Securities Act and the Exchange Act with respect to the disposition of all Registrable Securities covered by the Registration
Statement during the applicable period in accordance with the intended methods of disposition by the Investors thereof set forth
in the Registration Statement as so amended or in such Prospectus as so supplemented.

 

(c) Notify the Investors
as promptly as reasonably possible, and (if requested by the Investors) confirm such notice in writing no later than two Trading
Days thereafter, of any of the following events: (i) the SEC notifies the Company whether there will be a “review”
of any Registration Statement; (ii) the SEC comments in writing on any Registration Statement; (iii) any Registration
Statement or any post-effective amendment is declared effective; (iv) the SEC or any other Federal or state governmental authority
requests any amendment or supplement to any Registration Statement or Prospectus or requests additional information related thereto;
(v) the SEC issues any stop order suspending the effectiveness of any Registration Statement or initiates any Proceedings
for that purpose; (vi) the Company receives notice of any suspension of the qualification or exemption from qualification
of any Registrable Securities for sale in any jurisdiction, or the initiation or threat of any Proceeding for such purpose; or
(vii) the financial statements included in any Registration Statement become ineligible for inclusion therein or any Registration
Statement or Prospectus or other document contains any untrue statement of a material fact or omits to state any material fact
required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were
made, not misleading.

 

(d) Use its commercially
reasonable efforts to avoid the issuance of or, if issued, obtain the withdrawal of (i) any order suspending the effectiveness
of any Registration Statement, or (ii) any suspension of the qualification (or exemption from qualification) of any of the
Registrable Securities for sale in any jurisdiction, as soon as possible.

 

(e) If requested by
an Investor, provide such Investor without charge, at least one conformed copy of each Registration Statement and each amendment
thereto, including financial statements and schedules, and all exhibits to the extent requested by such Person (including those
previously furnished or incorporated by reference) promptly after the filing of such documents with the SEC.

 

(f) Promptly deliver
to each Investor, without charge, as many copies of the Prospectus or Prospectuses (including each form of prospectus) and each
amendment or supplement thereto as such Persons may reasonably request. The Company hereby consents to the use of such Prospectus
and each amendment or supplement thereto by each of the selling Investors in connection with the offering and sale of the Registrable
Securities covered by such Prospectus and any amendment or supplement thereto to the extent permitted by federal and state securities
laws and regulations.

 

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(g) (i) In the
time and manner required by each Trading Market, prepare and file with such Trading Market an additional shares listing application
covering all of the Registrable Securities; (ii) take all steps necessary to cause such Conversion Shares to be approved for
listing on each Trading Market as soon as possible thereafter; (iii) provide to each Investor evidence of such listing; and
(iv) during the Effectiveness Period, maintain the listing of such Conversion Shares on each such Trading Market or another
Eligible Market.

 

(h) Prior
to any public offering of Registrable Securities, use its commercially reasonable efforts to register or qualify or cooperate with
the selling Investors in connection with the registration or qualification (or exemption from such registration or qualification)
of such Registrable Securities for offer and sale under the securities or Blue Sky laws of such jurisdictions within the United
States as any Investor requests in writing, to keep each such registration or qualification (or exemption therefrom) effective
for so long as required, but not to exceed the duration of the Effectiveness Period, and to do any and all other acts or things
reasonably necessary or advisable to enable the disposition in such jurisdictions of the Registrable Securities covered by a Registration
Statement; provided, however, that the Company shall not be obligated to file any general consent to service of process
or to qualify as a foreign corporation or as a dealer in securities in any jurisdiction in which it is not so qualified or to subject
itself to taxation in respect of doing business in any jurisdiction in which it is not otherwise so subject.

 

(i) Cooperate
with the Investors to facilitate the timely preparation and delivery of certificates representing Registrable Securities to be
delivered to a transferee pursuant to a Registration Statement, which certificates shall be free, to the extent permitted by this
Agreement and under law, of all restrictive legends, and to enable such certificates to be in such denominations and registered
in such names as any such Investors may reasonably request.

 

(j) Upon the
occurrence of any event described in Section 5.3(c)(vii), as promptly as reasonably possible, prepare a supplement or amendment,
including a post-effective amendment, to the Registration Statement or a supplement to the related Prospectus or any document incorporated
or deemed to be incorporated therein by reference, and file any other required document so that, as thereafter delivered, neither
the Registration Statement nor such Prospectus will contain an untrue statement of a material fact or omit to state a material
fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they
were made, not misleading.

 

(k) Cooperate
with any reasonable due diligence investigation undertaken by the Investors in connection with the sale of Registrable Securities,
including, without limitation, by making available documents and information; provided that the Company will not deliver or make
available to any Investor material, nonpublic information unless such Investor requests in advance in writing to receive material,
nonpublic information and agrees to keep such information confidential.

 

(l) Comply
with all rules and regulations of the SEC applicable to the registration of the securities.

 

(m) It shall
be a condition precedent to the obligations of the Company to complete the registration pursuant to this Agreement with respect
to the Registrable Securities of any particular Investor that such Investor furnish to the Company the information specified in
Exhibits A-1, A-2 and A-3 hereto and such other information regarding itself, the Registrable Securities and other shares of Common
Stock held by it and the intended method of disposition of the Registrable Securities held by it as shall be reasonably required
to effect the registration of such Registrable Securities and shall complete and execute such documents in connection with such
registration as the Company may reasonably request.

 

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(n) The Company
shall comply with all applicable rules and regulations of the SEC under the Securities Act and the Exchange Act, including, without
limitation, Rule 172 under the Securities Act, file any final Prospectus, including any supplement or amendment thereof, with the
SEC pursuant to Rule 424 under the Securities Act, promptly inform the Investors in writing if, at any time during the Effectiveness
Period, the Company does not satisfy the conditions specified in Rule 172 and, as a result thereof, the Investors are required
to make available a Prospectus in connection with any disposition of Registrable Securities and take such other actions as may
be reasonably necessary to facilitate the registration of the Registrable Securities hereunder.

 

5.4 Registration
Expenses. The Company shall pay all fees and expenses incurred by the Company in connection with (and incident to) the performance
of its obligations under Section 6.1 of this Agreement by the Company, including without limitation (a) all registration
and filing fees and expenses, including without limitation those related to filings with the SEC, any Trading Market and in connection
with applicable state securities or Blue Sky laws, (b) printing expenses (including without limitation expenses of printing
certificates for Registrable Securities), (c) messenger, telephone and delivery expenses, (d) fees and disbursements
of counsel for the Company, (e) fees and expenses of all other Persons retained by the Company in connection with the consummation
of the transactions contemplated by this Agreement, and (f) all listing fees to be paid by the Company to the Trading Market.

 

5.5 Indemnification

 

(a)
Indemnification by the Company. The Company shall, notwithstanding any termination of this Agreement, indemnify and hold
harmless each Investor, the officers, directors, partners, members, agents and employees of each of them, each Person who controls
any such Investor (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) and the
officers, directors, partners, members, agents and employees of each such controlling Person, to the fullest extent permitted by
applicable law, from and against any and all Losses, as incurred, arising out of or relating to (i) any misrepresentation or breach
of any representation or warranty made by the Company in the Transaction Documents or any other certificate, instrument or document
contemplated hereby or thereby, (ii) any breach of any covenant, agreement or obligation of the Company contained in the Transaction
Documents or any other certificate, instrument or document contemplated hereby or thereby, (iii) any cause of action, suit or claim
brought or made against such Indemnified Party (as defined in Section 5.5 (c) below) by a third party (including for these
purposes a derivative action brought on behalf of the Company), arising out of or resulting from (x) the execution, delivery, performance
or enforcement of the Transaction Documents or any other certificate, instrument or document contemplated hereby or thereby, (y)
any transaction financed or to be financed in whole or in part, directly or indirectly, with the proceeds of the issuance of the
Securities, or (z) the status of Indemnified Party as holder of the Securities (unless, and only to the extent that, such
action, suit or claim is based upon a breach of such Investor’s representations, warranties or covenants under the Transaction
Documents or any conduct by such Investor that constitutes fraud, gross negligence or willful misconduct) or
(iv) any untrue or alleged untrue statement of a material fact contained in the Registration Statement, any Prospectus or any form
of Company prospectus or in any amendment or supplement thereto or in any Company preliminary prospectus, or arising out of or
relating to any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements
therein (in the case of any Prospectus or form of prospectus or supplement thereto, in the light of the circumstances under which
they were made) not misleading, except to the extent, but only to the extent, that (A) such untrue statements, alleged untrue
statements, omissions or alleged omissions are based solely upon information regarding such Investor furnished in writing to the
Company by such Investor for use therein, or to the extent that such information relates to such Investor or such Investor’s
proposed method of distribution of Registrable Securities and was reviewed and expressly approved by such Investor in writing expressly
for use in the Registration Statement, or (B) with respect to any prospectus, if the untrue statement or omission of material fact
contained in such prospectus was corrected on a timely basis in the prospectus, as then amended or supplemented, if such corrected
prospectus was timely made available by the Company to the Investor, and the Investor seeking indemnity hereunder was advised in
writing not to use the incorrect prospectus prior to the use giving rise to Losses. 

 

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(b) Indemnification
by Investors. Each Investor shall, severally and not jointly, indemnify and hold harmless the Company and its directors, officers,
agents and employees to the fullest extent permitted by applicable law, from and against all Losses (as determined by a court of
competent jurisdiction in a final judgment not subject to appeal or review) arising solely out of any untrue statement of a material
fact contained in the Registration Statement, any Prospectus, or any form of prospectus, or in any amendment or supplement thereto,
or arising out of or relating to any omission of a material fact required to be stated therein or necessary to make the statements
therein (in the case of any Prospectus or form of prospectus or supplement thereto, in the light of the circumstances under which
they were made) not misleading, but only to the extent that (i) such untrue statements or omissions are based solely upon
information regarding such Investor furnished to the Company by such Investor in writing expressly for use therein, or (ii) such
information relates to such Investor or such Investor’s proposed method of distribution of Registrable Securities and was
reviewed and expressly approved in writing by such Investor expressly for use in the Registration Statement, such Prospectus or
such form of prospectus or in any amendment or supplement thereto. In no event shall the liability of any selling Investor hereunder
be greater in amount than the dollar amount of the net proceeds received by such Investor upon the sale of the Registrable Securities
giving rise to such indemnification obligation.

 

(c) Conduct of
Indemnification Proceedings. If any Proceeding shall be brought or asserted against any Person entitled to indemnity hereunder
(an “Indemnified Party”), such Indemnified Party shall promptly notify the Person from whom indemnity is sought
(the “Indemnifying Party”) in writing, and the Indemnifying Party shall assume the defense thereof, including
the employment of counsel reasonably satisfactory to the Indemnified Party and the payment of all fees and expenses incurred in
connection with defense thereof; provided, that the failure of any Indemnified Party to give such notice shall not relieve the
Indemnifying Party of its obligations or liabilities pursuant to this Agreement, except (and only) to the extent that it shall
be finally determined by a court of competent jurisdiction (which determination is not subject to appeal or further review) that
such failure shall have proximately and materially adversely prejudiced the Indemnifying Party.

 

An Indemnified Party
shall have the right to employ separate counsel (including local counsel) in any such Proceeding and to participate in the defense
thereof, but the fees and expenses of such counsel (including local counsel) shall be at the expense of such Indemnified Party
or Parties unless: (i) the Indemnifying Party has agreed in writing to pay such fees and expenses; or (ii) the Indemnifying
Party shall have failed promptly to assume the defense of such Proceeding and to employ counsel (including local counsel) reasonably
satisfactory to such Indemnified Party in any such Proceeding; or (iii) the named parties to any such Proceeding (including
any impleaded parties) include both such Indemnified Party and the Indemnifying Party, and such Indemnified Party shall have been
advised by counsel that a conflict of interest is likely to exist if the same counsel were to represent such Indemnified Party
and the Indemnifying Party (in which case, if such Indemnified Party notifies the Indemnifying Party in writing that it elects
to employ separate counsel (including local counsel) at the expense of the Indemnifying Party, the Indemnifying Party shall not
have the right to assume the defense thereof and the reasonable fees and expenses of separate counsel (including local counsel)
shall be at the expense of the Indemnifying Party). It shall be understood, however, that the Indemnifying Party shall not, in
connection with any one such Proceeding (including separate Proceedings that have been or will be consolidated before a single
judge) be liable for the fees and expenses of more than one separate firm of attorneys at any time for all Indemnified Parties,
which firm shall be appointed by a majority of the Indemnified Parties. The Indemnifying Party shall not be liable for any settlement
of any such Proceeding effected without its written consent, which consent shall not be unreasonably withheld. No Indemnifying
Party shall, without the prior written consent of the Indemnified Party, effect any settlement of any pending Proceeding in respect
of which any Indemnified Party is a party, unless such settlement includes an unconditional release of such Indemnified Party from
all liability on claims that are the subject matter of such Proceeding.

 

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All reasonable fees
and expenses of the Indemnified Party (including reasonable fees and expenses to the extent incurred in connection with investigating
or preparing to defend such Proceeding in a manner not inconsistent with this Section) shall be paid to the Indemnified Party,
as incurred, within 20 Trading Days of written notice thereof to the Indemnifying Party (regardless of whether it is ultimately
determined that an Indemnified Party is not entitled to indemnification hereunder; provided, that the Indemnifying Party may require
such Indemnified Party to undertake to reimburse all such fees and expenses to the extent it is finally judicially determined that
such Indemnified Party is not entitled to indemnification hereunder).

 

(d) Contribution.
If a claim for indemnification under Section 5.7(a) or  (b) is unavailable to an Indemnified Party (by reason
of public policy or otherwise), then each Indemnifying Party, in lieu of indemnifying such Indemnified Party, shall contribute
to the amount paid or payable by such Indemnified Party as a result of such Losses, in such proportion as is appropriate to reflect
the relative fault of the Indemnifying Party and Indemnified Party in connection with the actions, statements or omissions that
resulted in such Losses as well as any other relevant equitable considerations. The relative fault of such Indemnifying Party and
Indemnified Party shall be determined by reference to, among other things, whether any action in question, including any untrue
or alleged untrue statement of a material fact or omission or alleged omission of a material fact, has been taken or made by, or
relates to information supplied by, such Indemnifying Party or Indemnified Party, and the parties’ relative intent, Knowledge,
access to information and opportunity to correct or prevent such action, statement or omission. The amount paid or payable by a
party as a result of any Losses shall be deemed to include, subject to the limitations set forth in Section 5.7(c), any
reasonable attorneys’ or other reasonable fees or expenses incurred by such party in connection with any Proceeding to the
extent such party would have been indemnified for such fees or expenses if the indemnification provided for in this Section was
available to such party in accordance with its terms.

 

The parties hereto
agree that it would not be just and equitable if contribution pursuant to this Section 5.5(d) were determined by pro rata
allocation or by any other method of allocation that does not take into account the equitable considerations referred to in the
immediately preceding paragraph. Notwithstanding the provisions of this Section 5.5(d), no Investor shall be required to
contribute, in the aggregate, any amount in excess of the amount by which the net proceeds actually received by such Investor from
the sale of the Registrable Securities subject to the Proceeding exceed the amount of any damages that such Investor has otherwise
been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No Person guilty of
fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution
from any Person who was not guilty of such fraudulent misrepresentation.

 

The indemnity and contribution
agreements contained in this Section are in addition to any liability that the Indemnifying Parties may have to the Indemnified
Parties.

 

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ARTICLE VI

CONDITIONS PRECEDENT

 

6.1
Conditions Precedent to the Company’s Obligations to Sell. The obligation of the Company hereunder to issue
and sell the Preferred stock and Warrants to the Investors at the Closing is subject to the satisfaction, at or before the Closing
Date, of each of the following conditions, provided that these conditions are for the Company’s sole benefit and may be waived
by the Company at any time in its sole discretion.

 

(a)
The Investors shall have executed the Transaction Documents that require Investors and delivered them to the Company.

 

(b)
The Investors shall have delivered the deliverables specified in Section 2.2(b) of this Agreement.

 

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

 

6.2
Conditions Precedent to the Investors’ Obligations to Purchase. The obligation of the Company hereunder to
issue and sell the Preferred stock and Warrants to the Investors at the Closing is subject to the satisfaction, at or before the
Closing Date, of each of the following conditions, provided that these conditions are for the Company’s sole benefit and
may be waived by the Company at any time in its sole discretion.

 

(a)
The Company shall have executed and delivered the Transaction Documents and delivered the same to the Investors.

 

(b)
The Company shall have delivered the deliverables specified in Section 2.2(a) of this Agreement.

 

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

 

ARTICLE VII

MISCELLANEOUS

 

7.1 Fees and Expenses.
Except as expressly set forth in the Transaction Documents to the contrary, each party shall pay the fees and expenses of its advisers,
counsel, accountants and other experts, if any, and all other expenses incurred by such party incident to the negotiation, preparation,
execution, delivery and performance of this Agreement.

 

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7.2 Entire Agreement.
The Transaction Documents, together with the Exhibits and Schedules thereto, contain the entire understanding of the parties with
respect to the subject matter hereof and supersede all prior agreements and understandings, oral or written, with respect to such
matters, which the parties acknowledge have been merged into such documents, exhibits and schedules. At or after the Closing, and
without further consideration, the Company will execute and deliver to the Investors such further documents as may be reasonably
requested in order to give practical effect to the intention of the parties under the Transaction Documents.

 

7.3 Notices.
Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and
shall be deemed given and effective on the earliest of (a) the date of transmission, if such notice or communication is delivered
via facsimile or email at the facsimile number or email address specified in this Section prior to 6:30 p.m. (New York City time)
on a Trading Day, (b) the next Trading Day after the date of transmission, if such notice or communication is delivered via
facsimile or email at the facsimile number or email address specified in this Section on a day that is not a Trading Day or later
than 6:30 p.m. (New York City time) on any Trading Day, (c) the Trading Day following the date of deposit with a nationally
recognized overnight courier service, or (d) upon actual receipt by the party to whom such notice is required to be given.
The addresses, facsimile numbers and email addresses for such notices and communications are those set forth on the signature pages
hereof, or such other address or facsimile number as may be designated in writing hereafter, in the same manner, by any such Person.

 

7.4 Amendments;
Waivers. No provision of this Agreement may be waived or amended except in a written instrument signed, in the case of an amendment,
by the Company and each of the Investors or, in the case of a waiver, by the party against whom enforcement of any such waiver
is sought. No waiver of any default with respect to any provision, condition or requirement of this Agreement shall be deemed to
be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition or requirement
hereof, nor shall any delay or omission of any party to exercise any right hereunder in any manner impair the exercise of any such
right.

 

7.5 Construction.
The headings herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed to limit or affect
any of the provisions hereof. The language used in this Agreement will be deemed to be the language chosen by the parties to express
their mutual intent, and no rules of strict construction will be applied against any party.

 

7.6 Successors and
Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and permitted assigns.
The Company may not assign this Agreement or any rights or obligations hereunder without the prior written consent of the Investors.
Any Investor may assign its rights under this Agreement to any Person to whom such Investor assigns or transfers any Securities,
provided (i) such transferor agrees in writing with the transferee or assignee to assign such rights, and a copy of such agreement
is furnished to the Company after such assignment, (ii) the Company is furnished with written notice of (x) the name and address
of such transferee or assignee and (y) the Registrable Securities with respect to which such registration rights are being transferred
or assigned, (iii) following such transfer or assignment, the further disposition of such securities by the transferee or assignee
is restricted under the Securities Act and applicable state securities laws, (iv) such transferee agrees in writing to be bound,
with respect to the transferred Securities, by the provisions hereof that apply to the “Investors” and (v) such transfer
shall have been made in accordance with the applicable requirements of this Agreement and with all laws applicable thereto.

 

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7.7 No Third-Party
Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective successors and permitted
assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other Person, except that each Indemnified
Party is an intended third party beneficiary of Section 7.7 and (in each case) may enforce the provisions of such Section
directly against the parties with obligations thereunder.

 

7.8 Governing Law;
Venue; Waiver of Jury Trial. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES THAT WOULD DEFER TO THE LAW OF ANOTHER JURISDICTION. THE COMPANY AND INVESTORS
HEREBY IRREVOCABLY SUBMIT TO THE NON-EXCLUSIVE JURISDICTION OF THE STATE AND FEDERAL COURTS SITTING IN THE CITY OF NEW YORK, BOROUGH
OF MANHATTAN FOR THE ADJUDICATION OF ANY DISPUTE BROUGHT BY THE COMPANY OR ANY INVESTOR HEREUNDER, IN CONNECTION HEREWITH OR WITH
ANY TRANSACTION CONTEMPLATED HEREBY OR DISCUSSED HEREIN (INCLUDING WITH RESPECT TO THE ENFORCEMENT OF ANY OF THE TRANSACTION DOCUMENTS),
AND HEREBY IRREVOCABLY WAIVE, AND AGREE NOT TO ASSERT IN ANY SUIT, ACTION OR PROCEEDING BROUGHT BY THE COMPANY OR ANY INVESTOR,
ANY CLAIM THAT IT IS NOT PERSONALLY SUBJECT TO THE JURISDICTION OF ANY SUCH COURT, OR THAT SUCH SUIT, ACTION OR PROCEEDING IS IMPROPER.
EACH PARTY HEREBY IRREVOCABLY WAIVES PERSONAL SERVICE OF PROCESS AND CONSENTS TO PROCESS BEING SERVED IN ANY SUCH SUIT, ACTION
OR PROCEEDING BY MAILING A COPY THEREOF 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. THE COMPANY AND INVESTORS HEREBY WAIVE ALL RIGHTS TO A TRIAL BY JURY.

 

7.9 Survival.
The representations and warranties contained herein shall survive the Closing and the delivery of the Preferred Stock and Warrants.
Each Investor shall be responsible only for its own representations, warranties and covenants hereunder.

 

7.10 Execution.
This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered one and the same
agreement and shall become effective when counterparts have been signed by each party and delivered to 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 transmission
or email attachment, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such
signature is executed) with the same force and effect as if such facsimile or email-attached signature page were an original thereof.

 

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

 

7.12 Rescission
and Withdrawal Right. Notwithstanding anything to the contrary contained in (and without limiting any similar provisions of)
the Transaction Documents, whenever any Investor exercises a right, election, demand or option owed to such Investor by the Company
under a Transaction Document and the Company does not timely perform its related obligations within the periods therein provided,
then, prior to the performance by the Company of the Company’s related obligation, such Investor may rescind or withdraw,
in its sole discretion from time to time upon written notice to the Company, any relevant notice, demand or election in whole or
in part without prejudice to its future actions and rights.

 

    21 

     

    

 

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

 

7.14 Remedies.
In addition to being entitled to exercise all rights provided herein or granted by law, including recovery of damages, each of
the Investors and the Company will be entitled to seek specific performance under the Transaction Documents. The parties agree
that monetary damages may not be adequate compensation for any loss incurred by reason of any breach of obligations described in
the foregoing sentence and hereby agree to waive in any action for specific performance of any such obligation (other than in connection
with any action for a temporary restraining order) the defense that a remedy at law would be adequate.

 

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

 

7.16 Adjustments
in Share Numbers and Prices. In the event of any stock split, subdivision, dividend or distribution payable in shares of Common
Stock (or other securities or rights convertible into, or entitling the holder thereof to receive directly or indirectly shares
of Common Stock), combination or other similar recapitalization or event occurring after the date hereof, each reference in any
Transaction Document to a number of shares or a price per share shall be amended to appropriately account for such event.

 

7.17 Independent
Nature of Investors’ Obligations and Rights. The obligations of each Investor under any Transaction Document are several
and not joint with the obligations of any other Investor, and no Investor shall be responsible in any way for the performance of
the obligations of any other Investor under any Transaction Documents. The decision of each Investor to purchase Securities pursuant
to this Agreement has been made by such Investor independently of any other Investor and independently of any information, materials,
statements or opinions as to the business, affairs, operations, assets, properties, liabilities, results of operations, condition
(financial or otherwise) or prospects of the Company which may have been made or given by any other Investor or by any agent or
employee of any other Investor, and no Investor or any of its agents or employees shall have any liability to any other Investor
(or any other person) relating to or arising from any such information, materials, statements or opinions. Nothing contained herein
or in any Transaction Document, and no action taken by any Investor pursuant thereto, shall be deemed to constitute the Investors
as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Investors are in
any way acting in concert or as a group with respect to such obligations or the transactions contemplated by the Transaction Document.
Each Investor acknowledges that no other Investor has acted as agent for such Investor in connection with making its investment
hereunder and that no other Investor will be acting as agent of such Investor in connection with monitoring its investment hereunder.
Each Investor shall be entitled to independently protect and enforce its rights, including without limitation the rights arising
out of this Agreement or out of the other Transaction Documents, and it shall not be necessary for any other Investor to be joined
as an additional party in any Proceeding for such purpose.

 

[SIGNATURE PAGES TO FOLLOW]

 

    22 

     

    

 

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

 

	 	NANOVIBRONIX, INC.
	 	 	 
	 	By:	             
	 	Name: 	Brian Murphy
	 	Title: 	Chief Executive Officer
	 	 	 
	 	Address for Notice:
	 	NanoVibronix, Inc.
	 	525 Executive Boulevard Elmsford
	 	New York 10523
	 	Tel:  [__________]
	 	Fax: [_______]
	 	Attn:  Chief Executive Officer
	 	 
	 	With a copy to:
	 	 
	 	Troutman Sanders LLP
	 	875 Third Avenue
	 	New York, New York 10022
	 	Tel: (212) 704-6000
	 	Fax: (212) 704-6288
	 	Attn:  Aurora Cassirer, Esq.

 

COMPANY SIGNATURE PAGE

 

    23 

     

    

 

Investor Signature Page

 

By its execution and
delivery of this signature page, the undersigned Investor hereby joins in and agrees to be bound by the terms and conditions of
the Securities Purchase Agreement dated as of February 18, 2014 (the “Purchase Agreement”) by and among NanoVibronix,
Inc. and the Investors (as defined therein), as to the number of shares of Preferred Stock and the number of shares of Preferred
Stock issuable upon exercise of the Warrants set forth below, and authorizes this signature page to be attached to the Purchase
Agreement or counterparts thereof.

 

	 	Name of Investor:
	 	 
	 	 	 
	 	By:	                   
	 	Name:	 
	 	Title:	 

 

	 	Address: 	       
	 	 	 
	 	 
	 	 	 
	 	 

 

	 	Telephone No.: 	              
	 	 	 
	 	Facsimile No.:	 
	 	 	 
	 	Email Address:	 

 

	 	Number of shares of Preferred Stock: 
	 	 
	 	 
	 	Number of shares of Preferred Stock issuable upon exercise of the Warrant: ______________
	 	 
	 	Price per Share $2.00
	 	 
	 	Aggregate Purchase Price: $ _______________________

 

    24 

     

    

 

Delivery Instructions (if different than above):

 

	c/o: 	 	 

 

	Address: 	 	 
	 	 	 

 

	Telephone No.: 	 	 
	 	 	 
	Facsimile No. : 	 	 

 

	Other Special Instructions: 	 	 

 

 

25

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