Document:

Exhibit 10.1

      

       

      

      

      Form of Future Deferred Remuneration Arrangement

      That was written and signed on the __ day of the month of _____, year ________

      

      

      
        	By and between:

              	
                Vishay Israel Ltd. co. no. 51- 051466-4 

                

              	
                 

              	
                 

              	
                 

              
	
                 

              	7 Hatnufa St., Petach Tikva

              	
                 

              	
                 

              	
                 

              
	
                 

              	
                 Hereinafter the "Company"

                

              	
                 

              	
                 

              	
                 

              

      

      

      Of the first part;

       

      

      
        	And:

              	
                

                

              	
                 

              	
                 

              	
                 

              
	 	 	 	 	 
	
                 

              	

              	
                 

              	
                 

              	
                 

              
	
                 

              	
                Hereinafter the "Employee"

                

              	
                 

              	
                 

              	
                 

              

      

      

      

      Of the second part;

       

      

      
        	Whereas

              	
                the Employee engages in a senior position in the Company, and he is most significant to the Company’s business activity;

              
	
                 

              	
                 

              
	And whereas

              	
                the Company proposes to the Employee to establish a fund to be accumulated in his favor for his retirement from the Company, as set forth in this
                  agreement;

                

              
	
                 

              	
                 

              
	And whereas

              	
                it was agreed that in order to ensure payment of the funds used for establishing the fund accumulated in favor of the Employee at the time of his
                  retirement, the Company will record a provision in its books and also deposit amounts as set forth in Appendix A to this agreement;

              
	 	 
	 	 
	 	Therefore, it was declared, stipulated and agreed by and between the parties as follows:

              

      

       

      

      
        	1. Introduction, Appendices, and Interpretation
	
                 

              	
                 

              	 	
                 

              
	

              	1.1.

              	The preamble of this agreement constitutes an integral part hereof.

              	
                 

              
	
                 

              	
                 

              	 	
                 

              
	
                 

              	1.2.

              	The titles in this agreement are for convenience only, and they shall not be used for the interpretation of this agreement. 

              

      

      

      

      
        	2. Reduction of Payment to an Employee against the Company's Future Commitment to Pay Upon Retirement

                
	
                 

              	
                 

              	 
	

              	The sources of the reduction which shall be set forth hereafter, in subsections 2.1-2.4, in whole or in part, will be made against the Company's future
                commitment to pay these funds to the Employee, as follows:

              

      

      

      

       
      
        
          	
                   

                	2.1.

                	Reduction from Current Salary

                
	 	 	 
	 	 	2.1.1.

                	The Employee's monthly salary will be reduced by % ____ (hereinafter - Reduction Amount from the Current Salary)

                
	 	 	 	 
	 	 	2.1.2.

                	It is clarified that the Reduction Amount from the Current Salary will also include social provisions associated with the reduced salary - provisions for "Pension", "Severance Pay" and "Supplementary Study Fund". 

                
	 	 	 	 
	 	 	2.1.3.

                	The Reduction Amount from the Current Salary will be recorded in the Company's books as a provision for a future liability in favor of the Employee. 

                
	 	 	 	 
	 	 	2.1.4.

                	The Reduction Amount from the Current Salary will be deposited in a policy held by the Company, as set forth in section 4 hereafter. 

                

        

        

        

        

        

        
          
            

        

        

        

        
          	
                   

                	2.2.

                	Reduction from the Value of the Benefits Associated with the Salary

                
	 	 	 
	 	 	2.2.1.

                	The amount of the value of the benefits provided to the Employee, in whole or in part, will be reduced in accordance with the Employee's decision (hereinafter - Reduction from the Benefits), as specified in Appendix A to this agreement.

                
	 	 	 	 
	 	 	2.2.2.

                	It is clarified that the Reduction Amount from the Benefits will also include the social provisions associated with the value of the benefits that were reduced -
                  provisions for "Pension", "Severance Pay", and "Supplementary Study Fund", to the extent they are included.

                
	 	 	 	 
	 	 	2.2.3.

                	The Reduction Amount from the Benefits will be recorded in the Company's books as a provision for a future liability in favor of the Employee. 

                
	 	 	 	 
	 	 	2.2.4.

                	The Reduction Amount from the Benefits will be deposited in a policy held by the Company, as set forth in section 4 hereafter. 

                

        

        

        

        
          	
                   

                	2.3.

                	Reduction from the Annual Bonus

                
	 	 	 
	 	 	2.3.1.

                	The amount of the annual bonus to which the Employee is entitled, in whole or in part, will be reduced in accordance with the Employee's decision (hereinafter - Reduction from the Bonus), as set forth in Appendix A to this agreement.

                
	 	 	 	 
	 	 	2.3.2.

                	The Reduction Amount from the Bonus will be recorded in the Company's books as a provision for a future liability in favor of the Employee. 

                
	 	 	 	 
	 	 	2.3.3.

                	The Reduction Amount from the Bonus will be deposited in a policy held by the Company, as set forth in section 4 hereafter. 

                

        

      

      

      

      
        	
                 

              	2.4.

              	Reduction from the Provisions for "Pension", "Severance Pay", and "Supplementary Study Fund"

              
	 	 	 
	 	 	2.4.1.

              	The provisions shall be reduced associated with the current salary or the new salary after the reduction, insofar as the
                Employee chose to reduce them from his current salary in accordance with sections 2.1 and 2.2 above, which originate from "Pension", "Severance Pay" and "Supplementary Study Fund", which exceed the deposit ceiling exempt from tax. (hereinafter - the Reductions from "Pension", "Severance Pay" and
                  "Supplementary Study Fund").

              
	 	 	 	 
	 	 	2.4.2.

              	The reductions amount from "Pension", "Severance Pay" and "Supplementary Study Fund", will be recorded in the Company's books as a provision for a future liability in favor of the Employee. 

              
	 	 	 	 
	 	 	2.4.3.

              	The reductions amount from "Pension", "Severance Pay" and "Supplementary Study Fund", will be deposited in a policy held by the Company, as set forth in section 4 hereafter. 

              
	 	 	 	 
	 	 	2.5.

              	"Reduction from the Current Salary", "Reduction from the Benefits", "Reduction from the Bonus", and "Reductions from "Pension", "Severance Pay" and "Supplementary Study Fund", including the profits that will accrue thereon in the
                policy, until payment is made to the Employee, will be defined together in the agreement hereinafter - the Funds. 

              

      

      

      

      
        	3. Marking an Investment Route between the Deposit Routes chosen by the Company for its Employees 
	 	 	 
	 	Out of the variety of investment routes offered by the insurance company, the Company will select several routes that it intends to
                offer its Employees when they join the plan. 
	 	 	 	 
	 	In the framework of signing this agreement and the Employee joining the Company's policy and on that date only, the Employee is entitled
                to choose the investment route where the policy funds will be deposited from among those same routes that the Company offered him. 
	 	 	 	 
	 	The Employee's choice of one of the investment routes, upon joining the plan and signing this agreement, is a condition for depositing
                the policy funds. 

      

      

      

      

      

      

      
        
          

      

      

      

      
        	4. Depositing the Funds in the Policy Held by the Company

              
	 	 	 
	 	4.1.

              	To ensure payment of the "Reduction from the Current Salary", the "Reduction from the Benefits" and the "Reductions from "Pension", "Severance Pay", and "Supplementary Study Fund" to the Employee, the Company will deposit, each month in which the
                Employee persisted at his work in the Company, and with respect to the "Reduction from the Bonus" - at the time when the bonus is paid by the Company, the appropriate amounts, as set forth in Appendix A to this Agreement.

              
	 	 	 	 
	 	4.2.

              	The funds will be deposited in an insurance policy managed by an insurance company, at the choice of the Company (hereinafter - the
                Policy), and the following rules will apply to it:

              
	 	 	 	 
	 	 	4.2.1.

              	The Company is the "policyholder" and the Employee is the "insured".

              
	 	 	 	 
	 	 	4.2.2.

              	The policy is not a "risk" type insurance policy, rather it is a "savings" type
                insurance policy. 

              
	 	 	 	 
	 	 	4.2.3.

              	The policy is not a "provident fund", in respect of which an approval was given according to the provisions of section 13 of the
                Supervision of Financial Services (Provident Funds) Law, 5765- 2005 (hereinafter - the Supervision Law), therefore the provisions of
                section 20 of the Supervision Law, which grant an Employee the right to choose the intended provident fund do not apply to the policy. 

              
	 	 	 	 

      

      
        	
                 

              	4.3.

              	The Company shall be entitled, at any time and according to its sole discretion, as mentioned in section 4.2 above, to choose between the deposit routes, or decide to
                deposit part of the funds in each of the deposit routes, or to decide to transfer any amount that was deposited as mentioned in one of the deposit routes, including the profits thereon, to a deposit in another route.

              
	 	 	 
	 	 	At the same time, the Company may transfer the funds deposited and/or that will be deposited later to another insurance company,
                according to good faith considerations of maximizing the profits and/or protecting the investment of the funds, all subject to the law without imposing any liability on the Company due to an activity or inactivity of the Company in respect
                of the aforesaid.

              
	 	 	 	 

      

      

      

      
        	5. Payment of the Funds to the Employee

              
	 	 	 
	 	5.1.

              	The Employee will be entitled to the funds at the time of his retirement and/or at the end of the employer-employee relationship, whatever
                the reason shall be for the retirement.

              
	 	 	 	 
	 	5.2.

              	The date on which the Employee will be entitled to the funds is at the time of his retirement, including upon his death heaven forbid,
                or at an earlier date, if he is determined to be permanently disabled according to the definition of the National Insurance Institution, or if he is determined to be disabled according to the Disability Law
                  (Allowance and Rehabilitation), 5719- 1959 [Consolidated Version].

              
	 	 	 	 
	 	 	It is clarified that in the event of the death of the Employee heaven forbid his survivors or beneficiaries will be entitled to the
                funds, according to his choice while he is still alive.

              
	 	 	 	 
	 	5.3.

              	At the time of payment of the funds to the Employee, and for the purpose of payment, the Company will instruct the Insurance Company to
                pay the funds to the Employee.

              

      

      

      

      
        	6. Taxes

              
	 	 	 
	 	6.1.

              	The transfer of the funds to the Employee will be made subject to deducting withholding tax of any tax and/or other obligatory payment
                as set forth in section 6.2 hereafter.

              
	 	 	 	 
	 	6.2.

              	At the time of payment of the funds to the Employee, any tax or other obligatory payment, of any kind, in respect of the payment of the
                funds which shall accrue in the policy, including in respect of the profits will apply to the Employee or heaven forbid upon his death - to the beneficiaries to be determined by him, and it is agreed that the Company is not liable towards
                the Employee for the tax liability that will apply at that time.

              

      

      

      

      

      

      
        
          

      

      

      

      
        	7. The Parties' Consents

              
	 	 	 
	 	7.1.

              	It is agreed between the parties that the funds will not confer any social rights to the Employee, and they will not be considered as
                part of his salary, for the purpose of calculating the Employee's rights in accordance with his employment agreement.

              
	 	 	 	 
	 	7.2.

              	It is agreed between the parties that the funds are a one-time grant, and that their payment to the Employee will not require the
                Company to give to the Employee, or to any other party, any payment in the future.

              
	 	 	 	 
	 	7.3.

              	The provisions of the employment agreement between the Company and the Employee will continue to apply, subject to changes according to
                this arrangement.

              

      

      

      

      
        	8. The Company's Representations and Warranties

              
	 	 	 
	 	8.1.

              	The Company undertakes to allocate the funds for the Employee in accordance with the types of reductions set forth in subsections
                2.1-2.4 above, in whole or in part, which the Company chose to apply to the Employee.

              
	 	 	 	 
	 	8.2.

              	The Company undertakes to pay the funds to the Employee, upon his retirement from the Company, all as set forth in this agreement.

              

      

      

      

      
        	9. The Employee's Representations and Warranties

              
	 	 	 
	 	9.1.

              	The Employee hereby represents that he is aware that the provisions of this agreement will not apply to the alternatives set forth in
                subsections 2.1-2.4, which the Company chose not to apply to the Employee.

              
	 	 	 	 
	 	9.2.

              	The Employee hereby represents that he is aware that the Company is the policy holder and the funds deposited in it belong to the
                Company, until the time they are paid to the Employee and that he will not have any lawsuits and/or claims, of any kind, against the Company in connection and/or in connection with the manner of investing the funds and/or the profits that
                will accrue thereon.

              
	 	 	 	 
	 	9.3.

              	The Employee hereby represents that from the date of the commencement of the arrangement and onwards, he has not and will not have any
                claims and/or lawsuits and/or demands, of any kind, against the Company and/or anyone on its behalf, in respect of the change and/or provisions in connection with the funds, subject to the full performance of the Company of its obligations
                under this agreement, and the Employee waives any such claim and lawsuit being aware of all his rights under the law.

              
	 	 	 	 
	 	9.4.

              	The Employee hereby represents that he is aware that he will not be entitled to assign, pledge, grant or transfer in any way his right
                to receive the funds that will accrue in the policy, including the profits thereon, except for a transfer to beneficiaries to be determined by him in the event of death (heaven forbid), as set forth in section 6.2 above.

              

      

      

      

      
        	10. Miscellaneous

              
	 	 	 
	 	10.1.

              	Any notice in connection with this agreement shall be sent in writing to the address of the parties, as it appears in the presentation
                of the parties to this agreement, or to any other address in respect of which the addressee will be give written notice.

              
	 	 	 	 
	 	

              	Any message sent by fax will be deemed to have been received by the person to whom it is intended, on the business day right after the
                day of its transmission, and provided that the sender received the confirmation of transmission regarding the completion of the transmission and its integrity:

              
	 	 	 	 
	 	 	10.1.1.

              	The Company - [ ____________________ ], [ ____________________ ] 

              
	 	 	 	                                          Fax no.                             Contact Person

              
	 	 	

              	

              
	 	 	10.1.2.

              	The Employee - [ ____________________ ], [ _____________________ ] 

              
	 	 	

              	                                           Fax no.                             Contact Person

              
	 	 	 	 
	 	10.2.

              	Any dispute or disagreement that erupts between the parties in connection with the execution, validity, interpretation, performance,
                enforcement, breach or cancellation of this agreement, will be decided according to the Israeli law, and the courts in Tel Aviv - Jaffa will have exclusive jurisdiction regarding any dispute or disagreement as mentioned.

              

      

      

      

      

      

      
        
          

      

      

      

      And in witness whereof the parties have signed:

      

       

        

      
        	
                 

              	

              	
                 

              	
                 

              	
                 

              
	
                 

              	
                The Employee 

                

              	
                 

              	The Company

              	
                 

              

         

       

        

       

        

      
        
          

      

      

        Appendix A of the Future Deferred Remuneration Arrangement

        

        That was written and signed on the __ day of the month of _____, year ________

        

        

        
          	By and between:

                	
                  Vishay Israel Ltd. co. no. 51- 051466-4 

                  

                	
                   

                	
                   

                	
                   

                
	
                   

                	7 Hatnufa St., Petach Tikva

                	
                   

                	
                   

                	
                   

                
	
                   

                	
                   Hereinafter the "Company"

                  

                	
                   

                	
                   

                	
                   

                

        

        

        Of the first part;

         

        

        
          	And:

                	
                  

                  

                	
                   

                	
                   

                	
                   

                
	 	 	 	 	 
	
                   

                	

                	
                   

                	
                   

                	
                   

                
	
                   

                	
                  Hereinafter the "Employee"

                  

                	
                   

                	
                   

                	
                   

                

        

        

        

        Of the second part;

         

        

        Pursuant to Section 2 of the Future Deferred Remuneration Arrangement
            (Hereinafter the "Arrangement"), the employee requests the Company to make a reduction in payments to which he is entitled, against a future commitment of the Company to pay him upon retirement, all in
            accordance with the following details:

        

      

       

        

      	1. 

            	

            	Reduction from Current Salary (According to section 2.1 of the Arrangement): ___%

            
	 	 	 	 
	2.

            	

            	Reduction from the Value of Benefits Associated with the Salary (According to section 2.2 of the Arrangement): ___%

            
	 	 	 	 
	3.

            	 	Reduction from the Annual Bonus (According to section 2.3 of the Arrangement): ___%

            
	 	 	 	 
	4.

            	 	Reduction from the Provisions for "Pension", "Severance Pay" and "Supplementary Study Fund" (According to section 2.4 of the Arrangement):
              ___%

            

       

        

    

    

      	
               

            	

            	
               

            	
               

            	
               

            
	
               

            	
              The Employee 

              

            	
               

            	The Company

            	
               

            

      

        

      

      
        
          

      

    

     

      
      Appendix B to Future Deferred Remuneration Arrangement (U.S.A.)

      

       

        

      WHEREAS, Vishay Israel Ltd. (the "Company") and [          ] (the "Employee")

        desire to enter into a Future Deferred Remuneration Arrangement (the "Arrangement");

       

      

      WHEREAS, the Employee is subject to taxation in the United States of America;

      

      

       WHEREAS, this Appendix B sets forth certain additional provisions intended to facilitate compliance with Section 409A of the Internal Revenue Code of
        1986, as amended (the "Code");

       

      

       WHEREAS, this Appendix B is incorporated into the Arrangement; and

      

       

      

      WHEREAS, all terms not otherwise defined in this Appendix B shall have the meanings ascribed to such terms in the Arrangement.

      

    

     

      
      
        	1. 

              	

              	Nature of Arrangement. The Arrangement is intended to be an unfunded nonqualified deferred compensation plan that complies with
                the provisions of Section 409A of the Code. While the Company will maintain and fund an insurance policy pursuant to Section 4 of the Arrangement, that policy will be an asset of the Company subject to claims of its general creditors, and
                all ownership rights under the policy will belong to the Company. The Employee and the Employee's beneficiaries will have no preferred claim on, or any beneficial ownership interest in, that insurance policy. Any rights of the Employee
                created under the Arrangement will be mere unsecured, contractual rights.

              
	 	 	 	 
	2.

              	

              	Commencement of Arrangement. Deferrals under the Arrangement will commence in the calendar year immediately following the
                calendar year in which the Employee and the Company enter into the Arrangement. For avoidance of doubt, to the extent the Employee elects to defer all or a portion of the Employee's annual bonus pursuant to Section 2.3 of the Arrangement,
                the first annual bonus subject to this Arrangement will be the annual bonus earned with respect to the calendar year immediately following the calendar year in which the election is made.

              
	 	 	 	 
	3.

              	 	
                Disability. The employee shall not be considered "permanently disabled" under the Arrangement unless the Employee is also considered
                  "Disabled" within the meaning of Treas. Reg. § 1.409A-3(i)(4).

                

              
	 	 	 	 
	4.

              	 	Lump Sum. Notwithstanding anything to the contrary in the Arrangement, all amounts payable under the Arrangement shall be payable
                in a lump sum within 60 days following the earliest to occur of: (i) the date the Employee becomes "permanently disabled." (ii) the date of the Employee's death, or (iii) the date of the Employee's Separation from Service. However, if the
                first of such events to occur is the Employee's Separation from Service, then to the extent required to comply with Treas. Reg. § 1.409A-3(i)(2), payment hereunder will be delayed until the first day of the seventh month following the date
                of such Separation from Service (or, if earlier, the date of the Employee's death), and amounts payable hereunder shall continue to be adjusted for deemed investment gain and loss incurred during the period of such delay. "Separation from Service" has the meaning set forth in Treas. Reg. § 1.409A-1(h). "Specified Employee" as the meaning set forth in Treas. Reg. § 1.409A-1(i). 
	 	 	 	 
	5.

              	 	Acceleration Generally Prohibited. Notwithstanding anything in the Arrangement to the contrary, to the extent necessary to
                maintain compliance with Section 409A of the Code, the Company may accelerate payment under the Arrangement only to the extent such acceleration is permitted under Treas. Reg. § 1.409A-3(j)(4). 
	 	 	 
	6. 

              	 	Amendment and Termination. The Company may, at any time, and in its discretion, alter, amend, modify, suspend or terminate the
                Arrangement or any portion thereof; provided, however, that no such amendment, modification, suspension or termination shall, without the consent of the Employee, reduce the amount credited to the Employee under the Arrangement as of the
                date of such amendment, modification, suspension or termination; and provided, further, that to the extent necessary to maintain compliance with Section 409A of the Code, any termination of the Arrangement will be conducted in a manner
                intended to comply with Treas. Reg. § 1.409A-3(j)(4)(ix). 
	 	 	 
	7.

              	 	Tax Withholding. The Company and its affiliates shall have the right to deduct from any amounts otherwise payable under the
                Arrangement any federal, state, local, or other applicable taxes required to be withheld.

              
	 	 	 
	8.

              	 	Section 409A of the Code. The Arrangement is intended to comply with the requirements of Section 409A of the Code and should be
                interpreted consistent with that intent. Nonetheless, the Company does not guaranty the tax treatment of the Arrangement. Statutory and regulatory citations herein will be deemed to include successors to the provisions cited. 

              
	

              	 	 

              
	9. 

              	 	Benefits Not Assignable. Other than a beneficiary designation made in accordance with the Arrangement, no right of the Employee
                under the Arrangement will be subject to anticipation, alienation, transfer, sale, assignment, pledge or encumbrance. 

              

      

    

    
      [Remainder of Page Intentionally Left Blank]Exhibit 4.2

 

COMMON SHARE PURCHASE WARRANT

 

SIYATA
MOBILE INC.

 

	Warrant Shares: [_______]	Initial Exercise Date: [_______, 20__

 

THIS COMMON SHARE PURCHASE
WARRANT (the “Warrant”) certifies that, for value received, _____________ or its assigns (the “Holder”)
is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after
the date hereof (the “Initial Exercise Date”) and on or prior to 5:00 p.m. (New York City time) on [_____], 20__1
(the “Termination Date”) but not thereafter, to subscribe for and purchase from SIYATA MOBILE INC., a
company incorporated under the laws of British Columbia (the “Company”), up to [___] shares (as subject to adjustment
hereunder, the “Warrant Shares”) of the Company’s Common Shares. The purchase price of one share of Common Share
under this Warrant shall be equal to the Exercise Price, as defined in Section 2(b). This Warrant shall initially be issued and maintained
in the form of a security held in book-entry form and The Depository Trust Company or its nominee (“DTC”) shall initially
be the sole registered holder of this Warrant, subject to a Holder’s right to elect to receive a Warrant in certificated form pursuant
to the terms of the Warrant Agency Agreement, in which case this sentence shall not apply.

 

Section 1. Definitions.
In addition to the terms defined elsewhere in this Warrant, the following terms have the meanings indicated in this Section 1:

 

“Affiliate”
has the meaning ascribed to it in Rule 12b-2 of the General Rules and
Regulations under the Securities Exchange Act of 1934, as amended (the “Exchange Act”).

 

“Bid Price”
means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Shares are then listed
or quoted on a Trading Market, the bid price of the Common Shares for the time in question (or the nearest preceding date) on the Trading
Market on which the Common Shares are then listed or quoted as reported by Bloomberg L.P. (based on a Trading Day from 9:30 a.m. (New
York City time) to 4:02 p.m. (New York City time)), (b)  if OTCQB or OTCQX is not a Trading Market, the volume weighted average price
of a Common Share for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the Common Shares are not then
listed or quoted for trading on OTCQB or OTCQX and if prices for the Common Shares are then reported on the Pink Open Market (or a similar
organization or agency succeeding to its functions of reporting prices), the most recent bid price per share of a Common Share so reported,
or (d) in all other cases, the fair market value of a share of the Common Shares as determined by an independent appraiser selected
in good faith by the Holders of a majority in interest of the Warrants then outstanding and reasonably acceptable to the Company, the
fees and expenses of which shall be paid by the Company.

 

“Board
of Directors” means the board of directors of the Company.

 

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

 

 

		1	Insert the date that is the 5th year anniversary
of the Initial Exercise Date; provided, however, that, if such date is not a Trading Day, insert the immediately following Trading Day.

 

     

    

    

 

“Commission”
means the United States Securities and Exchange Commission.

 

“Common
Shares” means the common shares of the Company, no par valueper share, and any other class of securities into which such securities
may hereafter be reclassified or changed.

 

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

 

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

 

“Person”
means an individual, corporation, association, partnership, limited
liability company, joint venture, trust, unincorporated organization, government or political subdivision thereof or governmental agency
or other entity.

 

“Registration
Statement” means the Company’s registration statement on Form [F-1], as amended (File No. 333-226040).

 

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

 

“Trading
Day” means a day on which the Common Shares are traded on a Trading Market.

 

“Trading
Market” means any of the following markets or exchanges on which the Common Shares are listed or quoted for trading on the date
in question: the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, the New York Stock
Exchange, OTCQB or OTCQX (or any successors to any of the foregoing).

 

“Transfer
Agent”  means Computershare Investor Services (Canada) Inc., the current
transfer agent of the Company, with a mailing address of Computershare Canada, 510 Burrard Street, 2nd Floor, Vancouver, British
Columbia, V6C 3B9 Canada and a facsimile number of [_______________], and any successor transfer agent of the Company.

 

“Underwriting
Agreement” means the underwriting agreement, dated as of [___], 20__ among the Company and Maxim Group, LLC as representative
of the underwriters named therein, as amended, modified or supplemented from time to time in accordance with its terms.

 

“VWAP”
means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Shares are then
listed or quoted on a Trading Market, the daily volume weighted average price of a Common Share for such date (or the nearest
preceding date) on the Trading Market on which the Common Shares are then listed or quoted as reported by Bloomberg L.P. (based on a
Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b)  if OTCQB or OTCQX is not a Trading
Market, the volume weighted average price of the Common Shares for such date (or the nearest preceding date) on OTCQB or OTCQX as
applicable, (c) if the Common Shares are not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Common Shares
are then reported on the Pink Open Market (or a similar organization or agency succeeding to its functions of reporting prices), the
most recent bid price per share of the Common Shares so reported, or (d) in all other cases, the fair market value of a share
of Common Shares as determined by an independent appraiser selected in good faith by the holders of a majority in interest of the
Warrants then outstanding and reasonably acceptable to the Company, the fees and expenses of which shall be paid by the Company.

 

    2

    

    

 

“Warrant
Agency Agreement” means that certain warrant agency agreement, dated on or about the Initial Exercise Date, between the Company
and the Warrant Agent.

 

“Warrant
Agent” means Computershare Inc. and Computershare Trust Company, N.A., jointly, and any successor warrant agent of the Company.

 

“Warrants”
means this Warrant and other Common Share purchase warrants issued by the Company pursuant to the Registration Statement.

 

Section 2. Exercise.

 

a)
Exercise of Warrant. Subject to the provisions of Section 2(e) herein, exercise
of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times on or after the Initial Exercise
Date and on or before the Termination Date by delivery to the Warrant Agent and the Company of a duly executed facsimile copy (or e-mail
attachment) of the Notice of Exercise in the form annexed hereto (the “Notice of Exercise”). Within the earlier of
(i) two (2) Trading Days and (ii) the number of Trading Days comprising the Standard Settlement Period (as defined in Section 2(d)(i)
herein) following the date of exercise as aforesaid, the Holder shall deliver to the Warrant Agent the aggregate Exercise Price for the
shares specified in the applicable Notice of Exercise by wire transfer or cashier’s check drawn on a United States bank unless the
cashless exercise procedure specified in Section 2(c) below is specified in the applicable Notice of Exercise. No ink-original Notice
of Exercise shall be required, nor shall any medallion guarantee (or other type of guarantee or notarization) of any Notice of Exercise
be required. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to
the Company until the Holder has purchased all of the Warrant Shares available hereunder and the Warrant has been exercised in full, in
which case, the Holder shall surrender this Warrant to the Warrant Agent for cancellation within three (3) Trading Days of the date on
which the final Notice of Exercise is delivered to the Company. Partial exercises of this Warrant resulting in purchases of a portion
of the total number of Warrant Shares available hereunder shall have the effect of lowering the outstanding number of Warrant Shares purchasable
hereunder in an amount equal to the applicable number of Warrant Shares purchased. The Holder and the Company shall maintain records showing
the number of Warrant Shares purchased and the date of such purchases. The Company shall deliver to the Holder and the Warrant Agent any
objection to any Notice of Exercise within one (1) Business Day of receipt of such notice. The Holder and any assignee, by acceptance
of this Warrant, acknowledge and agree that, by reason of the provisions of this paragraph, following the purchase of a portion of the
Warrant Shares hereunder, the number of Warrant Shares available for purchase hereunder at any given time may be less than the amount
stated on the face hereof.

 

Notwithstanding the foregoing in this
Section 2(a), a holder whose interest in this Warrant is a beneficial interest in certificate(s) representing this Warrant held in book-entry
form through DTC (or another established clearing corporation performing similar functions), shall effect exercises made pursuant to this
Section 2(a) by delivering to DTC (or such other clearing corporation, as applicable) the appropriate instruction form for exercise, complying
with the procedures to effect exercise that are required by DTC (or such other clearing corporation, as applicable), subject to a Holder’s
right to elect to receive a Definitive Warrant pursuant to the terms of the Warrant Agency Agreement, in which case this sentence shall
not apply.

 

b)  Exercise
Price. The exercise price per share of  a share of the Common Shares under this Warrant shall be $3.20,
subject to adjustment hereunder (the “Exercise Price”).

 

    3

    

    

 

c)
Cashless Exercise. If at the time of exercise hereof there is no effective registration statement registering, or the prospectus
contained therein is not available for the issuance of the Warrant Shares to the Holder, then this Warrant may also be exercised, in whole
or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a number of Warrant
Shares equal to the quotient obtained by dividing ((A-B)(X)) by (A), where:

 

(A) = as applicable:
(i) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise if such Notice of Exercise is (1)
both executed and delivered pursuant to Section 2(a) hereof on a day that is not a Trading Day or (2) both executed and delivered pursuant
to Section 2(a) hereof on a Trading Day prior to the opening of “regular trading hours” (as defined in Rule 600(b)(68) of
Regulation NMS promulgated under the federal securities laws) on such Trading Day, (ii) at the option of the Holder, either (y) the VWAP
on the Trading Day immediately preceding the date of the applicable Notice of Exercise or (z) the Bid Price of the Common Shares on the
principal Trading Market as reported by Bloomberg L.P. as of the time of the Holder’s execution of the applicable Notice of Exercise
if such Notice of Exercise is executed during “regular trading hours” on a Trading Day and is delivered within two (2) hours
thereafter (including until two (2) hours after the close of “regular trading hours” on a Trading Day) pursuant to Section
2(a) hereof or (iii) the VWAP on the date of the applicable Notice of Exercise if the date of such Notice of Exercise is a Trading Day
and such Notice of Exercise is both executed and delivered pursuant to Section 2(a) hereof after the close of “regular trading hours”
on such Trading Day;

 

(B) = the Exercise
Price of this Warrant, as adjusted hereunder; and

 

(X) = the number
of Warrant Shares that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant if such exercise were
by means of a cash exercise rather than a cashless exercise.

 

If Warrant Shares
are issued in such a cashless exercise, the parties acknowledge and agree that in accordance with Section 3(a)(9) of the Securities Act,
the Warrant Shares shall take on the registered characteristics of the Warrants being exercised. The Company agrees not to take any position
contrary to this Section 2(c).

 

Notwithstanding
anything herein to the contrary, on the Termination Date, this Warrant shall be automatically exercised via cashless exercise pursuant
to this Section 2(c).

 

d)  Mechanics
of Exercise.

 

		i.	Delivery of Warrant Shares Upon Exercise. The Company shall cause the Warrant Shares purchased
hereunder to be transmitted by the Transfer Agent to the Holder by crediting the account of the Holder’s or its designee’s
balance account with The Depository Trust Company through its Deposit or Withdrawal at Custodian system (“DWAC”) if
the Company is then a participant in such system and either (A) there is an effective registration statement permitting the issuance of
the Warrant Shares to or resale of the Warrant Shares by Holder or (B) this Warrant is being exercised via cashless exercise, and otherwise
by physical delivery of a certificate, registered in the Company’s share register in the name of the Holder or its designee, for
the number of Warrant Shares to which the Holder is entitled pursuant to such exercise to the address specified by the Holder in the Notice
of Exercise by the date that is the earliest of (i) two (2) Trading Days after the delivery to the Company of the Notice of Exercise,
(ii) one (1) Trading Day after delivery of the aggregate Exercise Price to the Company and (iii) the number of Trading Days comprising
the Standard Settlement Period after the delivery to the Company of the Notice of Exercise (such date, the “Warrant Share Delivery
Date”). Upon delivery of the Notice of Exercise, 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 Warrant
Shares, provided that payment of the aggregate Exercise Price (other than in the case of a cashless exercise) is received within the earlier
of (i) two (2) Trading Days and (ii) the number of Trading Days comprising the Standard Settlement Period following delivery of the Notice
of Exercise. If the Company fails for any reason to deliver to the Holder the Warrant Shares subject to a Notice of Exercise by the Warrant
Share Delivery Date, the Company shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of Warrant
Shares subject to such exercise (based on the VWAP of the Common Shares on the date of the applicable Notice of Exercise), $10 per Trading
Day (increasing to $20 per Trading Day on the fifth Trading Day after such liquidated damages begin to accrue) for each Trading Day after
such Warrant Share Delivery Date until such Warrant Shares are delivered or Holder rescinds such exercise. The Company agrees to maintain
a transfer agent that is a participant in the FAST program so long as this Warrant remains outstanding and exercisable. As used herein,
“Standard Settlement Period” means the standard settlement period, expressed in a number of Trading Days, on the Company’s
primary Trading Market with respect to the Common Shares as in effect on the date of delivery of the Notice of Exercise.

 

    4

    

    

 

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

 

iii.
Rescission Rights. If the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares pursuant
to Section 2(d)(i) by the Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise.

 

iv.
Compensation for Buy-In on Failure to Timely Deliver Warrant Shares Upon Exercise. In addition to any other rights available
to the Holder, if the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares in accordance with the provisions
of Section 2(d)(i) above pursuant to an exercise on or before the Warrant Share Delivery Date, and if after such date the Holder is required
by its broker to purchase (in an open market transaction or otherwise) or the Holder’s brokerage firm otherwise purchases, shares
of Common Shares to deliver in satisfaction of a sale by the Holder of the Warrant Shares which the Holder anticipated receiving upon
such exercise (a “Buy-In”), then the Company shall (A) pay in cash to the Holder the amount, if any, by which (x) the
Holder’s total purchase price (including brokerage commissions, if any) for the shares of Common Shares so purchased exceeds (y)
the amount obtained by multiplying (1) the number of Warrant Shares that the Company was required to deliver to the Holder in connection
with the exercise at issue times (2) the price at which the sell order giving rise to such purchase obligation was executed, and (B) at
the option of the Holder, either reinstate the portion of the Warrant and equivalent number of Warrant Shares for which such exercise
was not honored (in which case such exercise shall be deemed rescinded) or deliver to the Holder the number of shares of Common Shares
that would have been issued had the Company timely complied with its exercise and delivery obligations hereunder. For example, if the
Holder purchases Common Shares having a total purchase price of $11,000 to cover a Buy-In with respect to an attempted exercise of this
Warrant to purchase shares of Common Shares with an aggregate sale price giving rise to such purchase obligation of $10,000, under clause
(A) of the immediately preceding sentence the Company shall be required to pay the Holder $1,000. The Holder shall provide the Company
written notice indicating the amounts payable to the Holder in respect of the Buy-In and, upon request of the Company, evidence of the
amount of such loss. Nothing herein shall limit a Holder’s right to pursue any other remedies available to it hereunder, at law
or in equity including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Company’s
failure to timely deliver shares of Common Shares upon exercise of the Warrant as required pursuant to the terms hereof.

 

v.
No Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise
of this Warrant. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such exercise, the Company
shall, at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied
by the Exercise Price or round up to the next whole share.

 

vi.
Charges, Taxes and Expenses. Issuance of Warrant Shares shall be made without charge to the Holder for any issue or transfer
tax or other incidental expense in respect of the issuance of such Warrant Shares, all of which taxes and expenses shall be paid by the
Company, and such Warrant Shares shall be issued in the name of the Holder or in such name or names as may be directed by the Holder;
provided, however, that in the event that Warrant Shares are to be issued in a name other than the name of the Holder, this
Warrant when surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly executed by the Holder (together
with a medallion guarantee if requested by the Warrant Agent) and the Company may require, as a condition thereto, the payment of a sum
sufficient to reimburse it for any transfer tax incidental thereto. The Company shall pay all Transfer Agent fees required for same-day
processing of any Notice of Exercise and all fees to the Depository Trust Company (or another established clearing corporation performing
similar functions) required for same-day electronic delivery of the Warrant Shares.

 

    5

    

    

 

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

 

e)
Holder’s Exercise Limitations. The Company shall not effect any exercise of this Warrant, and a Holder shall not have
the right to exercise any portion of this Warrant, pursuant to Section 2 or otherwise, to the extent that after giving effect to such
issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates, and
any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution
Parties”)), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below).  For purposes of the
foregoing sentence, the number of shares of Common Shares beneficially owned by the Holder and its Affiliates and Attribution Parties
shall include the number of shares of Common Shares issuable upon exercise of this Warrant with respect to which such determination is
being made, but shall exclude the number of shares of Common Shares which would be issuable upon (i) exercise of the remaining, nonexercised
portion of this Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion
of the unexercised or nonconverted portion of any other securities of the Company (including, without limitation, any other Common Share
Equivalents) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the
Holder or any of its Affiliates or Attribution Parties.  Except as set forth in the preceding sentence, for purposes of this Section
2(e), beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated
thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance
with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith.
To the extent that the limitation contained in this Section 2(e) applies, the determination of whether this Warrant is exercisable (in
relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of this Warrant
is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s
determination of whether this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates
and Attribution Parties) and of which portion of this Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation,
and neither the Company nor the Warrant Agent shall have no obligation to verify or confirm the accuracy of such determination. In addition,
a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act
and the rules and regulations promulgated thereunder. For purposes of this Section 2(e), in determining the number of outstanding shares
of Common Shares, a Holder may rely on the number of outstanding shares of Common Shares as reflected in (A) the Company’s most
recent periodic or annual report filed with the Commission, as the case may be, (B) a more recent public announcement by the Company or
(C) a more recent written notice by the Company or the Transfer Agent setting forth the number of shares of Common Shares outstanding. 
Upon the written or oral request of a Holder, the Company shall within one Trading Day confirm orally and in writing to the Holder the
number of shares of Common Shares then outstanding.  In any case, the number of outstanding shares of Common Shares shall be determined
after giving effect to the conversion or exercise of securities of the Company, including this Warrant, by the Holder or its Affiliates
or Attribution Parties since the date as of which such number of outstanding shares of Common Shares was reported. The “Beneficial
Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number
of shares of the Common Shares outstanding immediately after giving effect to the issuance of shares of Common Shares issuable upon exercise
of this Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this
Section 2(e), provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Shares
outstanding immediately after giving effect to the issuance of shares of Common Shares upon exercise of this Warrant held by the Holder
and the provisions of this Section 2(e) shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective
until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented
in a manner otherwise than in strict conformity with the terms of this Section 2(e) to correct this paragraph (or any portion hereof)
which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements
necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor
holder of this Warrant.

 

    6

    

    

 

Section 3. Certain
Adjustments.

 

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

 

b) Subsequent
Rights Offerings. In addition to any adjustments pursuant to Section 3(a) above, if at any time the Company grants, issues or
sells any Common Share Equivalents or rights to purchase stock, warrants, securities or other property pro rata to the record
holders of any class of shares of Common Shares (the “Purchase Rights”), then the Holder will be entitled to
acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired if
the Holder had held the number of shares of Common Shares acquirable upon complete exercise of this Warrant (without regard to any
limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date on
which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of
which the record holders of shares of Common Shares are to be determined for the grant, issue or sale of such Purchase Rights
(provided, however, to the extent that the Holder’s right to participate in any such Purchase Right would result in the Holder
exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Purchase Right to such
extent (or beneficial ownership of such shares of Common Shares as a result of such Purchase Right to such extent) and such Purchase
Right to such extent shall be held in abeyance for the Holder until such time, if ever, as its right thereto would not result in the
Holder exceeding the Beneficial Ownership Limitation).

 

c) Pro Rata
Distributions. During such time as this Warrant is outstanding, if the Company shall declare or make any dividend or other
distribution of its assets (or rights to acquire its assets) to holders of shares of Common Shares, by way of return of capital or
otherwise (including, without limitation, any distribution of cash, stock or other securities, property or options by way of a
dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a
“Distribution”), at any time after the issuance of this Warrant, then, in each such case, the Holder shall be
entitled to participate in such Distribution to the same extent that the Holder would have participated therein if the Holder had
held the number of shares of Common Shares acquirable upon complete exercise of this Warrant (without regard to any limitations on
exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date of which a record is
taken for such Distribution, or, if no such record is taken, the date as of which the record holders of shares of Common Shares are
to be determined for the participation in such Distribution (provided, however, to the extent that the Holder’s right
to participate in any such Distribution would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder
shall not be entitled to participate in such Distribution to such extent (or in the beneficial ownership of any shares of Common
Shares as a result of such Distribution to such extent) and the portion of such Distribution shall be held in abeyance for the
benefit of the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial
Ownership Limitation).

 

    7

    

    

 

d) Fundamental
Transaction. If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in one or more related
transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company, directly or
indirectly, effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially all of
its assets in one or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange offer
(whether by the Company or another Person) is completed pursuant to which holders of Common Shares are permitted to sell, tender or
exchange their shares for other securities, cash or property and has been accepted by the holders of 50% or more of the outstanding
Common Shares, (iv) the Company, directly or indirectly, in one or more related transactions effects any reclassification,
reorganization or recapitalization of the Common Shares or any compulsory share exchange pursuant to which the Common Shares is
effectively converted into or exchanged for other securities, cash or property, or (v) the Company, directly or indirectly, in one
or more related transactions consummates a stock or share purchase agreement or other business combination (including, without
limitation, a reorganization, recapitalization, spin-off or scheme of arrangement) with another Person or group of Persons whereby
such other Person or group acquires more than 50% of the outstanding shares of Common Shares (not including any shares of Common
Shares 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) (each a “Fundamental
Transaction”), then, upon any subsequent exercise of this Warrant, the Holder shall have the right to receive, for each
Warrant Share that would have been issuable upon such exercise immediately prior to the occurrence of such Fundamental Transaction,
at the option of the Holder (without regard to any limitation in Section 2(e) on the exercise of this Warrant), the number of shares
of Common Shares of the successor or acquiring corporation or of the Company, if it is the surviving corporation, and any additional
consideration (the “Alternate Consideration”) receivable as a result of such Fundamental Transaction by a holder
of the number of shares of Common Shares for which this Warrant is exercisable immediately prior to such Fundamental Transaction
(without regard to any limitation in Section 2(e) on the exercise of this Warrant). For purposes of any such exercise, the
determination of the Exercise Price shall be appropriately adjusted to apply to such Alternate Consideration based on the amount of
Alternate Consideration issuable in respect of one share of the Common Share in such Fundamental Transaction, and the Company shall
apportion the Exercise Price among the Alternate Consideration in a reasonable manner reflecting the relative value of any different
components of the Alternate Consideration. If holders of Common Shares are given any choice as to the securities, cash or property
to be received in a Fundamental Transaction, then the Holder shall be given the same choice as to the Alternate Consideration it
receives upon any exercise of this Warrant following such Fundamental Transaction. Notwithstanding anything to the contrary, in the
event of a Fundamental Transaction, the Company or any Successor Entity (as defined below) shall, at the Holder’s option,
exercisable at any time concurrently with, or within 30 days after, the consummation of the Fundamental Transaction (or, if later,
the date of the public announcement of the applicable Fundamental Transaction), purchase this Warrant from the Holder by paying to
the Holder an amount of cash equal to the Black Scholes Value of the remaining unexercised portion of this Warrant on the date of
the consummation of such Fundamental Transaction; provided, however, if the Fundamental Transaction is not within the
Company’s control, including not approved by the Company’s Board of Directors, the Holder shall only be entitled to
receive from the Company or any Successor Entity, as of the date of consummation of such Fundamental Transaction, the same type or
form of consideration (and in the same proportion), at the Black Scholes Value of the unexercised portion of this Warrant, that is
being offered and paid to the holders of Common Shares of the Company in connection with the Fundamental Transaction, whether that
consideration be in the form of cash, stock or any combination thereof, or whether the holders of Common Shares are given the choice
to receive from among alternative forms of consideration in connection with the Fundamental Transaction. “Black Scholes
Value” means the value of this Warrant based on the Black and Scholes Option Pricing Model obtained from the
“OV” function on Bloomberg, L.P. (“Bloomberg”) determined as of the day of consummation of the
applicable Fundamental Transaction for pricing purposes and reflecting (A) a risk-free interest rate corresponding to the U.S.
Treasury rate for a period equal to the time between the date of the public announcement of the applicable Fundamental Transaction
and the Termination Date, (B) an expected volatility equal to the greater of 100% and the 100 day volatility obtained from the HVT
function on Bloomberg as of the Trading Day immediately following the public announcement of the applicable Fundamental Transaction,
(C) the underlying price per share used in such calculation shall be the greater of (i) the sum of the price per share being offered
in cash, if any, plus the value of any non-cash consideration, if any, being offered in such Fundamental Transaction and (ii) the
greater of (x) the last VWAP immediately prior to the public announcement of such Fundamental Transaction and (y) the last VWAP
immediately prior to the consummation of such Fundamental Transaction and (D) a remaining option time equal to the time between the
date of the public announcement of the applicable Fundamental Transaction and the Termination Date. The payment of the Black Scholes
Value will be made by wire transfer of immediately available funds within five Business Days of the Holder’s election (or, if
later, on the effective date of the Fundamental Transaction). The Company shall cause any successor entity in a Fundamental
Transaction in which the Company is not the survivor (the “Successor Entity”) to assume in writing all of the
obligations of the Company under this Warrant in accordance with the provisions of this Section 3(d) pursuant to written agreements
in form and substance [reasonably satisfactory to the Holder and approved by the Holder] (without unreasonable delay) prior to such
Fundamental Transaction and shall, at the option of the Holder, deliver to the Holder in exchange for this Warrant a security of the
Successor Entity evidenced by a written instrument substantially similar in form and substance to this Warrant which is exercisable
for a corresponding number of shares of capital stock of such Successor Entity (or its parent entity) equivalent to the shares of
Common Shares acquirable and receivable upon exercise of this Warrant (without regard to any limitations on the exercise of this
Warrant) prior to such Fundamental Transaction, and with an exercise price which applies the exercise price hereunder to such shares
of capital stock (but taking into account the relative value of the shares of Common Shares pursuant to such Fundamental Transaction
and the value of such shares of capital stock, such number of shares of capital stock and such exercise price being for the purpose
of protecting the economic value of this Warrant immediately prior to the consummation of such Fundamental Transaction), and which
is reasonably satisfactory in form and substance to [the Holder]. Upon the occurrence of any such Fundamental Transaction, the
Successor Entity shall succeed to, and be substituted for (so that from and after the date of such Fundamental Transaction, the
provisions of this Warrant referring to the “Company” shall refer instead to the Successor Entity), and may exercise
every right and power of the Company and shall assume all of the obligations of the Company under this Warrant with the same effect
as if such Successor Entity had been named as the Company herein.

 

    8

    

    

 

e)
Calculations. All calculations under this Section 3 shall be made by the Company to the nearest cent or the nearest 1/100th
of a share, as the case may be. For purposes of this Section 3, the number of shares of Common Shares deemed to be issued and outstanding
as of a given date shall be the sum of the number of shares of Common Shares (excluding treasury shares, if any) issued and outstanding.

 

f)
Notice to Holder.

 

i.
Adjustment to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the Company
shall promptly deliver to the Holder by facsimile or email and to the Warrant Agent (in accordance
with Section 19 of the Warrant Agency Agreement, a notice setting forth the Exercise Price after such adjustment and any resulting
adjustment to the number of Warrant Shares and setting forth a brief statement of the facts requiring such adjustment.

 

ii. Notice
to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the
Common Shares, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Shares, (C) the
Company shall authorize the granting to all holders of the Common Shares rights or warrants to subscribe for or purchase any shares
of capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall be required in connection
with any reclassification of the Common Shares, any consolidation or merger to which the Company is a party, any sale or transfer of
all or substantially all of the assets of the Company, or any compulsory share exchange whereby the Common Shares is converted into
other securities, cash or property, or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation or
winding up of the affairs of the Company, then, in each case, the Company shall cause to be delivered by facsimile or email to the
Holder at its last facsimile number or email address as it shall appear upon the Warrant Register of the Company and
to the Warrant Agent (in accordance with Section 19 of the Warrant Agency Agreement,, at least 20 calendar days prior to the
applicable record or effective date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the
purpose of such dividend, distribution, redemption, rights or warrants, or if a record is not to be taken, the date as of which the
holders of the Common Shares of record to be entitled to such dividend, distributions, redemption, rights or warrants are to be
determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer or share exchange is expected to
become effective or close, and the date as of which it is expected that holders of the Common Shares of record shall be entitled to
exchange their shares of the Common Shares for securities, cash or other property deliverable upon such reclassification,
consolidation, merger, sale, transfer or share exchange; provided that the failure to deliver such notice or any defect therein or
in the delivery thereof shall not affect the validity of the corporate action required to be specified in such notice. To the extent
that any notice provided in this Warrant constitutes, or contains, material, non-public information regarding the Company or any of
the Subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant to a Current Report on Form 6-K.
The Holder shall remain entitled to exercise this Warrant during the period commencing on the date of such notice to the effective
date of the event triggering such notice except as may otherwise be expressly set forth herein.

 

    9

    

    

 

Section 4. Transfer
of Warrant.

 

a)
Transferability. This Warrant and all rights hereunder (including, without limitation, any registration rights) are transferable,
in whole or in part, upon surrender of this Warrant at the office of the Warrant Agent designated for such purpose, together with a written
assignment of this Warrant substantially in the form attached hereto duly executed by the Holder or its agent or attorney (together with
a medallion guarantee if requested by the Warrant Agent) and funds sufficient to pay any transfer taxes payable upon the making of such
transfer. Upon such surrender and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants in the name
of the assignee or assignees, as applicable, and in the denomination or denominations specified in such instrument of assignment, and
shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant shall promptly be cancelled.
Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company
unless the Holder has assigned this Warrant in full, in which case, the Holder shall surrender this Warrant to the Company within three
(3) Trading Days of the date on which the Holder delivers an assignment form (together with a medallion guarantee if requested by the
Warrant Agent) to the Company assigning this Warrant in full. The Warrant, if properly assigned in accordance herewith, may be exercised
by a new holder for the purchase of Warrant Shares without having a new Warrant issued.

 

b) New
Warrants. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the
Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by the
Holder or its agent or attorney. Subject to compliance with Section 4(a), as to any transfer which may be involved in such division
or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be
divided or combined in accordance with such notice. All Warrants issued on transfers or exchanges shall be dated the Initial
Exercise Date and shall be identical with this Warrant except as to the number of Warrant Shares issuable pursuant thereto.

 

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

 

    10

    

    

 

Section 5. Miscellaneous.

 

a)
No Rights as Stockholder Until Exercise. This Warrant does not entitle the Holder to any voting rights, dividends or other
rights as a stockholder of the Company prior to the exercise hereof as set forth in Section 2(d)(i), except as expressly set forth in
Section 3.

 

b)
Loss, Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company and the Warrant
Agent of evidence reasonably satisfactory to them of the loss, theft, destruction or mutilation of this Warrant or any stock certificate
relating to the Warrant Shares, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it, and
upon surrender and cancellation of such Warrant or stock certificate, if mutilated, the Company will make and deliver a new Warrant or
stock certificate of like tenor and dated as of such cancellation, in lieu of such Warrant or stock certificate.

 

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

 

d)
Authorized Shares.

 

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

 

Except and to the
extent as waived or consented to by the [Holder], the Company shall not by any action, including, without limitation, amending its certificate
of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or
any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will at all
times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary or appropriate
to protect the rights of Holder as set forth in this Warrant against impairment. Without limiting the generality of the foregoing, the
Company will (i) not increase the par value of any Warrant Shares above the amount payable therefor upon such exercise immediately prior
to such increase in par value, (ii) take all such action as may be necessary or appropriate in order that the Company may validly and
legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant and (iii) use commercially reasonable efforts
to obtain all such authorizations, exemptions or consents from any public regulatory body having jurisdiction thereof, as may be, necessary
to enable the Company to perform its obligations under this Warrant.

 

Before taking any
action which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or in the Exercise Price,
the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary from any public regulatory
body or bodies having jurisdiction thereof.

 

    11

    

    

 

e)
Governing Law. All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall
be governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles
of conflicts of law thereof. Each party agrees that all legal proceedings concerning the interpretations, enforcement and defense of the
transactions contemplated by this Warrant (whether brought against a party hereto or their respective affiliates, directors, officers,
shareholders, partners, members, employees or agents) shall be commenced exclusively in the state and federal courts sitting in the City
of New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the City of
New York, Borough of Manhattan for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated
hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that
it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is improper or is an inconvenient
venue for such proceeding. Each party hereby irrevocably waives personal service of process and consents to process being served in any
such 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 Warrant and agrees that such service shall constitute good and sufficient
service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any
other manner permitted by law. If either party shall commence an action, suit or proceeding to enforce any provisions of this Warrant,
the prevailing party in such action, suit or proceeding shall be reimbursed by the other party for their reasonable attorneys’ fees
and other costs and expenses incurred with the investigation, preparation and prosecution of such action or proceeding.

 

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

 

g)
Nonwaiver and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder
shall operate as a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies. Without limiting any other
provision of this Warrant, if the Company willfully and knowingly fails to comply with any provision of this Warrant, which results in
any material damages to the Holder, the Company shall pay to the Holder such amounts as shall be sufficient to cover any costs and expenses
including, but not limited to, reasonable attorneys’ fees, including those of appellate proceedings, incurred by the Holder in collecting
any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder.

 

h)
Notices. Any and all notices or other communications or deliveries to be provided by the Holders hereunder including, without
limitation, any Notice of Exercise, shall be in writing and delivered personally, or e-mail, or sent by a nationally recognized overnight
courier service, addressed to the Company, at [ ], Attention: [ ], email address: [ ], or such other facsimile number, email address
or address as the Company may specify for such purposes by notice to the Holders. Any and all notices or other communications or deliveries
to be provided by the Company or the Warrant Agent hereunder shall be in writing and delivered personally, by facsimile or e-mail, or
sent by a nationally recognized overnight courier service addressed to each Holder at the facsimile number, e-mail address or address
of such Holder appearing on the books of the Company. Any and all notices or other communications
or deliveries to the Warrant Agent hereunder shall be delivered in accordance with Section 19 of the Warrant Agency Agreement. Any
notice or other communication or deliveries hereunder shall be deemed given and effective on the earliest of (i) the date of transmission,
if such notice or communication is delivered via facsimile at the facsimile number or via e-mail at the e-mail address set forth in this
Section prior to 5:30 p.m. (New York City time) on any date, (ii) the next Trading Day after the date of transmission, if such notice
or communication is delivered via facsimile at the facsimile number or via e-mail at the e-mail address set forth in this Section on a
day that is not a Trading Day or later than 5:30 p.m. (New York City time) on any Trading Day, (iii) the second Trading Day following
the date of mailing, if sent by U.S. nationally recognized overnight courier service, or (iv) upon actual receipt by the party to whom
such notice is required to be given. To the extent that any notice provided hereunder constitutes, or contains, material, non-public information
regarding the Company or any subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant to a Current
Report on Form 8-K.

 

    12

    

    

 

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

 

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

 

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

 

l) Warrant
Agency Agreement; Amendment. This Warrant is issued under and in accordance with the Warrant Agency Agreement, and is subject to
the terms and provisions contained therein, to all of which terms and provisions the beneficial owners of the Warrants and the
Holders consent by acceptance hereof. The Warrant Agency Agreement is hereby incorporated herein by reference and made a part
hereof. The Warrant Agency Agreement and this Warrant may be amended and the observance of any term of the Warrant Agency Agreement
or this Warrant may be waived only to the extent provided in the Warrant Agency Agreement.

 

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

 

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

 

o) Warrant
Agency Agreement. If this Warrant is held in global form through DTC (or any successor depositary), this Warrant is issued
subject to the Warrant Agency Agreement. Subject to Section 22 of the Warrant Agency Agreement, to the extent any provision of this
Warrant conflicts with the express provisions of the Warrant Agency Agreement, the provisions of this Warrant shall govern and be
controlling.

 

    13

    

    

 

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

 

	 	SIYATA MOBILE, INC.
	 	 	 
	 	By	              
	 	 	Name:
	 	 	Title:

 

	 	COUNTERSIGNED:
	 	 
	 	COMPUTERSHARE INC. and
	 	COMPUTERSHARE TRUST COMPANY, N.A., for both entities
	 	 
	 	By: 	                                      
	 	Name: 	 
	 	Title:	 

 

    14

    

    

 

NOTICE OF EXERCISE

 

To:
  Computershare Inc. and Computershare Trust Company, N.A. AND SIYATA MOBILE, INC.

 

(1)
The undersigned hereby elects to purchase ________ Warrant Shares of the Company pursuant to the
terms of the attached Warrant (only if exercised in full), and tenders herewith payment of the exercise price in full, together with all
applicable transfer taxes, if any.

 

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

 

[   ] in lawful money of the United States;
or

 

[   ] [if permitted the cancellation of
such number of Warrant Shares as is necessary, in accordance with the formula set forth in subsection 2(c), to exercise this Warrant with
respect to the maximum number of Warrant Shares purchasable pursuant to the cashless exercise procedure set forth in subsection 2(c).

 

(3) Please
issue said Warrant Shares in the name of the undersigned or in such other name as is specified below:

 

_______________________________

 

 

The Warrant Shares shall be delivered to the following
DWAC Account Number:

 

_______________________________

 

_______________________________

 

_______________________________

 

[SIGNATURE
OF HOLDER]

 

Name of Investing Entity: ________________________________________________________________________

Signature of Authorized Signatory of Investing
Entity: _________________________________________________

Name of Authorized Signatory: ___________________________________________________________________

Title of Authorized Signatory: ____________________________________________________________________

Date: ________________________________________________________________________________________

 

     

    

    

 

ASSIGNMENT FORM

 

(To assign the foregoing
Warrant, execute this form and supply required information. Do not use this form to purchase shares.)

 

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

 

	Name:	 	 
	 	 	(Please Print)
	 	 	 
	Address:	 	 
	 	 	(Please Print)

 

	Phone Number:	 	 
	 	 	 
	Email Address:	 	 

 

	Dated: _______________ __, ______	 
	 	 
	Holder’s Signature: ______________________	 
	 	 
	Holder’s Address: ______________________

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00338-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00338-of-00352.parquet"}]]