Document:

SUBSCRIPTION AGREEMENT

 

Matinas BioPharma Holdings, Inc.

915 Klosterman Road East

Tarpon Springs, FL 346894

 

Ladies and Gentlemen:

 

1.          Subscription.
The undersigned (the “Purchaser”), intending to be legally bound, hereby irrevocably agrees to purchase from Matinas
BioPharma Holdings, Inc., a Delaware corporation (the “Company”), the number of units (the “Units”) set
forth on the signature page hereof at a purchase price of $25,000 per Unit. Each Unit consists of (i) 25,000 shares of the Company’s
common stock, par value $0.0001 per share (the “Common Stock”) and (ii) 12,500 Series 2 warrants (each, a “Warrant”
and collectively, the “Warrants”), each warrant to purchase one share of Common Stock at an exercise price of $2.00
per share. The Units are being sold in the Offering (as defined below).

 

2.          The
Offering. This subscription is submitted to you in accordance with and subject to the terms and conditions described in this
Subscription Agreement and the Confidential Private Placement Memorandum of the Company dated September 13, 2013, as amended or
supplemented from time to time, including all attachments, schedules and exhibits thereto (the “Memorandum”), relating
to the offering (the “Offering”) by the Company of up to 40 Units ($1,000,000) (the “Offering Amount”).
In the event the entire Offering Amount is sold, the Placement Agent (as defined below) and the Company shall have the right to
place an additional 8 Units ($200,000) to cover over-allotments. Aegis Capital Corp. has been engaged as placement agent in connection
with the Offering (the “Placement Agent”). The terms of the Offering are more completely described in the Memorandum
and such terms are incorporated herein in their entirety.

 

3.          Payment.
The Purchaser will immediately make a wire transfer payment to, “Signature Bank, Escrow Agent for Matinas BioPharma
Holdings, Inc.” in the full amount of the purchase price of the Units being subscribed for in the Offering. Wire transfer
instructions are set forth on page 12 hereof under the heading “To subscribe for Units in the private offering of Matinas
BioPharma Holdings, Inc.” Such funds will be held for the Purchaser's benefit, and will be returned promptly, without interest
or offset if this Subscription Agreement is not accepted by the Company or the Offering is terminated pursuant to its terms by
the Company prior to the Closing (as hereinafter defined). Together with a wire transfer of the full purchase price, the Purchaser
is delivering a completed and executed Signature Page to this Subscription Agreement.

 

4.          Deposit
of Funds. All payments made as provided in Section 3 hereof shall be deposited by the Company or the Placement Agent as soon
as practicable after receipt thereof with Signature Bank (the “Escrow Agent”), in a non-interest-bearing escrow account
(the “Escrow Account”) until the earliest to occur of (a) the closing (the “Closing”) of such number of
Units as are sold in this Offering (it being understood there will be one such Closing), (b) the rejection of such subscription,
and (c) the termination of the Offering by the Company or the Placement Agent.

 

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5.           Acceptance
of Subscription. The Purchaser understands and agrees that the Company, in its sole discretion, reserves the right to accept
or reject this or any other subscription for Units, in whole or in part, notwithstanding prior receipt by the Purchaser of notice
of acceptance of this subscription. The Company shall have no obligation hereunder until the Company shall execute and deliver
to the Purchaser an executed copy of this Subscription Agreement. If this subscription is rejected in whole or the Offering of
Units is terminated, all funds received from the Purchaser will be returned without interest or offset, and this Subscription Agreement
shall thereafter be of no further force or effect. If this subscription is rejected in part, the funds for the rejected portion
of this subscription will be returned without interest or offset, and this Subscription Agreement will continue in full force and
effect to the extent this subscription was accepted.

 

6.           Representations
and Warranties.

 

The Purchaser hereby
acknowledges, represents, warrants, and agrees as follows:

 

(a)          None
of the shares of Common Stock or the shares of Common Stock issuable upon exercise of the Warrants (the “Warrant Shares”)
offered pursuant to the Memorandum are registered under the Securities Act of 1933, as amended (the “Securities Act”),
or any state securities laws. The Purchaser understands that the offering and sale of the Units is intended to be exempt from registration
under the Securities Act, by virtue of Section 4(2) thereof and the provisions of Regulation D (“Regulation D”) as
promulgated by the United States Securities and Exchange Commission (the “SEC”) thereunder, based, in part, upon the
representations, warranties and agreements of the Purchaser contained in this Subscription Agreement;

 

(b)          Prior
to the execution of this Subscription Agreement, the Purchaser and the Purchaser's attorney, accountant, purchaser representative
and/or tax adviser, if any (collectively, the “Advisers”), have received the Memorandum and all other documents requested
by the Purchaser, have carefully reviewed them and understand the information contained therein;

 

(c)          Neither
the SEC nor any state securities commission or other regulatory authority has approved the Units, the Common Stock, the Warrants
or the Warrant Shares, or passed upon or endorsed the merits of the offering of Units or confirmed the accuracy or determined the
adequacy of the Memorandum. The Memorandum has not been reviewed by any federal, state or other regulatory authority;

 

(d)          All
documents, records, and books pertaining to the investment in the Units (including, without limitation, the Memorandum) have been
made available for inspection by such Purchaser and its Advisers, if any;

 

(e)          The
Purchaser and its Advisers, if any, have had a reasonable opportunity to ask questions of and receive answers from a person or
persons acting on behalf of the Company concerning the offering of the Units and the business, financial condition and results
of operations of the Company, and all such questions have been answered to the full satisfaction of the Purchaser and its Advisers,
if any;

 

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(f)          In
evaluating the suitability of an investment in the Company, the Purchaser has not relied upon any representation or information
(oral or written) other than as stated in the Memorandum.

 

(g)          The
Purchaser is unaware of, is in no way relying on, and did not become aware of the Offering of the Units through or as a result
of, any form of general solicitation or general advertising including, without limitation, any article, notice, advertisement or
other communication published in any newspaper, magazine or similar media or broadcast over television, radio or the Internet (including,
without limitation, internet “blogs,” bulletin boards, discussion groups and social networking sites) in connection
with the Offering and sale of the Units and is not subscribing for the Units and did not become aware of the Offering of the Units
through or as a result of any seminar or meeting to which the Purchaser was invited by, or any solicitation of a subscription by,
a person not previously known to the Purchaser in connection with investments in securities generally;

 

(h)          The
Purchaser has taken no action that would give rise to any claim by any person for brokerage commissions, finders' fees or the like
relating to this Subscription Agreement or the transactions contemplated hereby (other than commissions to be paid by the Company
to the Placement Agent or as otherwise described in the Memorandum);

 

(i)          The
Purchaser, together with its Advisers, if any, has such knowledge and experience in financial, tax, and business matters, and,
in particular, investments in securities, so as to enable it to utilize the information made available to it in connection with
the Offering to evaluate the merits and risks of an investment in the Units and the Company and to make an informed investment
decision with respect thereto;

 

(j)          The
Purchaser is not relying on the Company, the Placement Agent or any of their respective employees or agents with respect to the
legal, tax, economic and related considerations of an investment in the Units, and the Purchaser has relied on the advice of, or
has consulted with, only its own Advisers;

 

(k)          The
Purchaser is acquiring the Units solely for such Purchaser's own account for investment purposes only and not with a view to or
intent of resale or distribution thereof, in whole or in part. The Purchaser has no agreement or arrangement, formal or informal,
with any person to sell or transfer all or any part of the Units, the shares of Common Stock, the Warrants or the Warrant Shares,
and the Purchaser has no plans to enter into any such agreement or arrangement.

 

(l)          The
Purchaser must bear the substantial economic risks of the investment in the Units indefinitely because none of the securities
included in the Units may be sold, hypothecated or otherwise disposed of unless subsequently registered under the Securities Act
and applicable state securities laws or an exemption from such registration is available. Legends shall be placed on the securities
included in the Units to the effect that they have not been registered under the Securities Act or applicable state securities
laws and appropriate notations thereof will be made in the Company's stock books. Stop transfer instructions will be placed with
the transfer agent of the Units. There is no market for resale of the Units, the Common Stock, the Warrants or the Warrant Shares
and there can be no assurance that such securities will be freely transferable at any time in the foreseeable future.

 

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(m)          The
Purchaser has adequate means of providing for such Purchaser's current financial needs and foreseeable contingencies and has no
need for liquidity from its investment in the Units for an indefinite period of time;

 

(n)          The
Purchaser is aware that an investment in the Units is high risk, involving a number of very significant risks and has carefully
read and considered the matters set forth under the caption “Risk Factors” in the Memorandum, and, in particular, acknowledges
that the Company has a limited operating history, significant operating losses since inception, limited revenues to date, limited
assets and is engaged in a highly competitive business;

 

(o)          The
Purchaser meets the requirements of at least one of the suitability standards for an “accredited investor” as that
term is defined in Regulation D and as set forth on the Accredited Investor Certification contained herein;

 

(p)          The
Purchaser (i) if a natural person, represents that the Purchaser has reached the age of 21 and has full power and authority to
execute and deliver this Subscription Agreement and all other related agreements or certificates and to carry out the provisions
hereof and thereof; (ii) if a corporation, partnership, or limited liability company or partnership, or association, joint stock
company, trust, unincorporated organization or other entity, represents that such entity was not formed for the specific purpose
of acquiring the Units, such entity is duly organized, validly existing and in good standing under the laws of the state of its
organization, the consummation of the transactions contemplated hereby is authorized by, and will not result in a violation of
state law or its charter or other organizational documents, such entity has full power and authority to execute and deliver this
Subscription Agreement and all other related agreements or certificates and to carry out the provisions hereof and thereof and
to purchase and hold the securities constituting the Units, the execution and delivery of this Subscription Agreement has been
duly authorized by all necessary action, this Subscription Agreement has been duly executed and delivered on behalf of such entity
and is a legal, valid and binding obligation of such entity; or (iii) if executing this Subscription Agreement in a representative
or fiduciary capacity, represents that it has full power and authority to execute and deliver this Subscription Agreement in such
capacity and on behalf of the subscribing individual, ward, partnership, trust, estate, corporation, or limited liability company
or partnership, or other entity for whom the Purchaser is executing this Subscription Agreement, and such individual, partnership,
ward, trust, estate, corporation, or limited liability company or partnership, or other entity has full right and power to perform
pursuant to this Subscription Agreement and make an investment in the Company, and represents that this Subscription Agreement
constitutes a legal, valid and binding obligation of such entity. The execution and delivery of this Subscription Agreement will
not violate or be in conflict with any order, judgment, injunction, agreement or controlling document to which the Purchaser is
a party or by which it is bound;

 

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(q)          The
Purchaser and the Advisers, if any, have had the opportunity to obtain any additional information, to the extent the Company has
such information in its possession or could acquire it without unreasonable effort or expense, necessary to verify the accuracy
of the information contained in the Memorandum and all documents received or reviewed in connection with the purchase of the Units
and have had the opportunity to have representatives of the Company provide them with such additional information regarding the
terms and conditions of this particular investment and the financial condition, results of operations, business of the Company
deemed relevant by the Purchaser or the Advisers, if any, and all such requested information, to the extent the Company had such
information in its possession or could acquire it without unreasonable effort or expense, has been provided to the full satisfaction
of the Purchaser and the Advisers, if any;

 

(r)          Any
information which the Purchaser has heretofore furnished or is furnishing herewith to the Company or the Placement Agent is complete
and accurate and may be relied upon by the Company and the Placement Agent in determining the availability of an exemption from
registration under federal and state securities laws in connection with the offering of securities as described in the Memorandum.
The Purchaser further represents and warrants that it will notify and supply corrective information to the Company and the Placement
Agent immediately upon the occurrence of any change therein occurring prior to the Company's issuance of the securities contained
in the Units;

 

(s)          The
Purchaser has significant prior investment experience, including investment in non-listed and non-registered securities. The Purchaser
is knowledgeable about investment considerations in development-stage companies with limited operating histories. The Purchaser
has a sufficient net worth to sustain a loss of its entire investment in the Company in the event such a loss should occur. The
Purchaser's overall commitment to investments which are not readily marketable is not excessive in view of the Purchaser’s
net worth and financial circumstances and the purchase of the Units will not cause such commitment to become excessive. The investment
is a suitable one for the Purchaser;

 

(t)          The
Purchaser is satisfied that the Purchaser has received adequate information with respect to all matters which it or the Advisers,
if any, consider material to its decision to make this investment;

 

(u)          The
Purchaser acknowledges that any estimates or forward-looking statements or projections included in the Memorandum were prepared
by the Company in good faith but that the attainment of any such projections, estimates or forward-looking statements cannot be
guaranteed by the Company and should not be relied upon;

 

(v)         No
oral or written representations have been made, or oral or written information furnished, to the Purchaser or the Advisers, if
any, in connection with the Offering which are in any way inconsistent with the information contained in the Memorandum;

 

(w)          Within
five (5) days after receipt of a request from the Company or the Placement Agent, the Purchaser will provide such information and
deliver such documents as may reasonably be necessary to comply with any and all laws and ordinances to which the Company or the
Placement Agent is subject;

 

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(x)          The
Purchaser's substantive relationship with the Placement Agent or subagent through which the Purchaser is subscribing for Units
predates the Placement Agent's or such subagent's contact with the Purchaser regarding an investment in the Units;

 

(y)          THE
SECURITIES OFFERED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS AND
ARE BEING OFFERED AND SOLD IN RELIANCE ON EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF SAID ACT AND SUCH LAWS. THE SECURITIES
ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER SAID ACT
AND SUCH LAWS PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM. THE SECURITIES HAVE NOT BEEN RECOMMENDED, APPROVED OR DISAPPROVED
BY THE SECURITIES AND EXCHANGE COMMISSION, ANY STATE SECURITIES COMMISSION OR ANY OTHER REGULATORY AUTHORITY, NOR HAVE ANY OF THE
FOREGOING AUTHORITIES PASSED UPON OR ENDORSED THE MERITS OF THIS OFFERING OR THE ACCURACY OR ADEQUACY OF THE MEMORANDUM OR THIS
SUBSCRIPTION AGREEMENT. ANY REPRESENTATION TO THE CONTRARY IS UNLAWFUL;

 

(z)          In
making an investment decision investors must rely on their own examination of the Company and the terms of the Offering, including
the merits and risks involved. The Purchaser should be aware that it will be required to bear the financial risks of this investment
for an indefinite period of time;

 

(aa)         (For
ERISA plans only) The fiduciary of the ERISA plan (the “Plan”) represents that such fiduciary has been informed
of and understands the Company’s investment objectives, policies and strategies, and that the decision to invest “plan
assets” (as such term is defined in ERISA) in the Company is consistent with the provisions of ERISA that require diversification
of plan assets and impose other fiduciary responsibilities. The Purchaser fiduciary or Plan (a) is responsible for the decision
to invest in the Company; (b) is independent of the Company or any of its affiliates; (c) is qualified to make such investment
decision; and (d) in making such decision, the Purchaser fiduciary or Plan has not relied primarily on any advice or recommendation
of the Company or any of its affiliates;

 

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(bb)         The
Purchaser should check the Office of Foreign Assets Control (“OFAC”) website at <http://www.treas.gov/ofac>
before making the following representations. The Purchaser represents that the amounts invested by it in the Company in the
Offering were not and are not directly or indirectly derived from activities that contravene federal, state or international laws
and regulations, including anti-money laundering laws and regulations. Federal regulations and Executive Orders administered by
OFAC prohibit, among other things, the engagement in transactions with, and the provision of services to, certain foreign countries,
territories, entities and individuals. The lists of OFAC prohibited countries, territories, persons and entities can be found
on the OFAC website at <http://www.treas.gov/ofac>. In addition, the programs administered by OFAC (the “OFAC Programs”)
prohibit dealing with individuals1 or entities in certain countries regardless of whether such individuals or entities
appear on the OFAC lists;

 

(cc)         To
the best of the Purchaser’s knowledge, none of: (1) the Purchaser; (2) any person controlling or controlled by the Purchaser;
(3) if the Purchaser is a privately-held entity, any person having a beneficial interest in the Purchaser; or (4) any person for
whom the Purchaser is acting as agent or nominee in connection with this investment is a country, territory, individual or entity
named on an OFAC list, or a person or entity prohibited under the OFAC Programs. Please be advised that the Company may not accept
any amounts from a prospective investor if such prospective investor cannot make the representation set forth in the preceding
paragraph. The Purchaser agrees to promptly notify the Company and the Placement Agent should the Purchaser become aware of any
change in the information set forth in these representations. The Purchaser understands and acknowledges that, by law, the Company
may be obligated to “freeze the account” of the Purchaser, either by prohibiting additional subscriptions from the
Purchaser, declining any redemption requests and/or segregating the assets in the account in compliance with governmental regulations,
and the Placement Agent may also be required to report such action and to disclose the Purchaser’s identity to OFAC. The
Purchaser further acknowledges that the Company may, by written notice to the Purchaser, suspend the redemption rights, if any,
of the Purchaser if the Company reasonably deems it necessary to do so to comply with anti-money laundering regulations applicable
to the Company and the Placement Agent or any of the Company’s other service providers. These individuals include specially
designated nationals, specially designated narcotics traffickers and other parties subject to OFAC sanctions and embargo programs;

 

(dd)         To
the best of the Purchaser’s knowledge, none of: (1) the Purchaser; (2) any person controlling or controlled by the Purchaser;
(3) if the Purchaser is a privately-held entity, any person having a beneficial interest in the Purchaser; or (4) any person for
whom the Purchaser is acting as agent or nominee in connection with this investment is a senior foreign political figure,2
or any immediate family3 member or close associate4 of a senior foreign political figure,
as such terms are defined in the footnotes below; and

 

(ee)         If
the Purchaser is affiliated with a non-U.S. banking institution (a “Foreign Bank”), or if the Purchaser receives deposits
from, makes payments on behalf of, or handles other financial transactions related to a Foreign Bank, the Purchaser represents
and warrants to the Company that: (1) the Foreign Bank has a fixed address, other than solely an electronic address, in a country
in which the Foreign Bank is authorized to conduct banking activities; (2) the Foreign Bank maintains operating records related
to its banking activities; (3) the Foreign Bank is subject to inspection by the banking authority that licensed the Foreign Bank
to conduct banking activities; and (4) the Foreign Bank does not provide banking services to any other Foreign Bank that does not
have a physical presence in any country and that is not a regulated affiliate.

 

 

1
These individuals include specially designated nationals, specially designated narcotics traffickers
and other parties subject to OFAC sanctions and embargo programs.

 

2
A “senior foreign political figure” is defined as a senior official in the executive, legislative, administrative,
military or judicial branches of a foreign government (whether elected or not), a senior official of a major foreign political
party, or a senior executive of a foreign government-owned corporation. In addition, a “senior foreign political figure”
includes any corporation, business or other entity that has been formed by, or for the benefit of, a senior foreign political figure.

 

3 “Immediate
family” of a senior foreign political figure typically includes the figure’s parents, siblings, spouse, children and
in-laws.

 

4 A
“close associate” of a senior foreign political figure is a person who is widely and publicly known to maintain an
unusually close relationship with the senior foreign political figure, and includes a person who is in a position to conduct substantial
domestic and international financial transactions on behalf of the senior foreign political figure.

 

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7.          Intentionally
Omitted.

 

8.          Indemnification.
The Purchaser agrees to indemnify and hold harmless the Company, the Placement Agent (including its selected dealers, if any),
and their respective officers, directors, employees, agents, control persons and affiliates from and against all losses, liabilities,
claims, damages, costs, fees and expenses whatsoever (including, but not limited to, any and all expenses incurred in investigating,
preparing or defending against any litigation commenced or threatened) based upon or arising out of any actual or alleged false
acknowledgment, representation or warranty, or misrepresentation or omission to state a material fact, or breach by the Purchaser
of any covenant or agreement made by the Purchaser herein or in any other document delivered in connection with this Subscription
Agreement.

 

9.          Irrevocability;
Binding Effect. The Purchaser hereby acknowledges and agrees that the subscription hereunder is irrevocable by the Purchaser,
except as required by applicable law, and that this Subscription Agreement shall survive the death or disability of the Purchaser
and shall be binding upon and inure to the benefit of the parties and their heirs, executors, administrators, successors, legal
representatives, and permitted assigns. If the Purchaser is more than one person, the obligations of the Purchaser hereunder shall
be joint and several and the agreements, representations, warranties, and acknowledgments herein shall be deemed to be made by
and be binding upon each such person and such person's heirs, executors, administrators, successors, legal representatives, and
permitted assigns.

 

10.         Modification.
This Subscription Agreement shall not be modified or waived except by an instrument in writing signed by the party against whom
any such modification or waiver is sought.

 

11.         Notices.
Any notice or other communication required or permitted to be given hereunder shall be in writing and shall be mailed by certified
mail, return receipt requested, or delivered against receipt to the party to whom it is to be given (a) if to the Company, at the
address set forth above, or (b) if to the Purchaser, at the address set forth on the signature page hereof (or, in either case,
to such other address as the party shall have furnished in writing in accordance with the provisions of this Section 11). Any notice
or other communication given by certified mail shall be deemed given at the time of certification thereof, except for a notice
changing a party's address which shall be deemed given at the time of receipt thereof.

 

12.         Assignability.
This Subscription Agreement and the rights, interests and obligations hereunder are not transferable or assignable by the Purchaser
and the transfer or assignment of the shares of Common Stock or the Warrants shall be made only in accordance with all applicable
laws.

 

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13.         Applicable
Law. This Subscription Agreement shall be governed by and construed in accordance with the laws of the State of New York applicable
to contracts to be wholly-performed within said State.

 

14.         Arbitration.
The parties agree to submit all controversies to arbitration in accordance with the provisions set forth below and understand that:

 

(a)          Arbitration
is final and binding on the parties.

 

(b)          The
parties are waiving their right to seek remedies in court, including the right to a jury trial.

 

(c)          Pre-arbitration
discovery is generally more limited and different from court proceedings.

 

(d)          The
arbitrator's award is not required to include factual findings or legal reasoning and any party's right to appeal or to seek modification
of rulings by arbitrators is strictly limited.

 

(e)          The
panel of arbitrators will typically include a minority of arbitrators who were or are affiliated with the securities industry.

 

(f)          All
controversies which may arise between the parties concerning this Subscription Agreement shall be determined by arbitration pursuant
to the rules then pertaining to the Financial Industry Regulatory Authority, Inc. (“FINRA”) in New York City, New York.
Judgment on any award of any such arbitration may be entered in the Supreme Court of the State of New York or in any other court
having jurisdiction of the person or persons against whom such award is rendered. Any notice of such arbitration or for
the confirmation of any award in any arbitration shall be sufficient if given in accordance with the provisions of this Agreement.
The parties agree that the determination of the arbitrators shall be binding and conclusive upon them.

 

15.         Blue
Sky Qualification. The purchase of Units under this Subscription Agreement is expressly conditioned upon the exemption from
qualification of the offer and sale of the Units from applicable federal and state securities laws. The Company shall not be required
to qualify this transaction under the securities laws of any jurisdiction and, should qualification be necessary, the Company shall
be released from any and all obligations to maintain its offer, and may rescind any sale contracted, in the jurisdiction.

 

16.         Use
of Pronouns. All pronouns and any variations thereof used herein shall be deemed to refer to the masculine, feminine, neuter,
singular or plural as the identity of the person or persons referred to may require. 

 

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17.         Confidentiality.
The Purchaser acknowledges and agrees that any information or data the Purchaser has acquired from or about the Company, not otherwise
properly in the public domain, was received in confidence. The Purchaser agrees not to divulge, communicate or disclose, except
as may be required by law or for the performance of this Agreement, or use to the detriment of the Company or for the benefit of
any other person or persons, or misuse in any way, any confidential information of the Company, including any scientific, technical,
trade or business secrets of the Company and any scientific, technical, trade or business materials that are treated by the Company
as confidential or proprietary, including, but not limited to, ideas, discoveries, inventions, developments and improvements belonging
to the Company and confidential information obtained by or given to the Company about or belonging to third parties.

 

18.         Miscellaneous.

 

(a)          This
Subscription Agreement constitutes the entire agreement between the Purchaser and the Company with respect to the subject matter
hereof and supersedes all prior oral or written agreements and understandings, if any, relating to the subject matter hereof. The
terms and provisions of this Subscription Agreement may be waived, or consent for the departure therefrom granted, only by a written
document executed by the party entitled to the benefits of such terms or provisions.

 

(b)          The
representations and warranties of the Company and the Purchaser made in this Subscription Agreement shall survive the execution
and delivery hereof and delivery of the shares of Common Stock and Warrants contained in the Units.

 

(c)          Each
of the parties hereto shall pay its own fees and expenses (including the fees of any attorneys, accountants, appraisers or others
engaged by such party) in connection with this Subscription Agreement and the transactions contemplated hereby whether or not the
transactions contemplated hereby are consummated.

 

(d)          This
Subscription Agreement may be executed in one or more counterparts each of which shall be deemed an original, but all of which
shall together constitute one and the same instrument.

 

(e)          Each
provision of this Subscription Agreement shall be considered separable and, if for any reason any provision or provisions hereof
are determined to be invalid or contrary to applicable law, such invalidity or illegality shall not impair the operation of or
affect the remaining portions of this Subscription Agreement.

 

(f)          Paragraph
titles are for descriptive purposes only and shall not control or alter the meaning of this Subscription Agreement as set forth
in the text.

 

(g)          The
Purchaser understands and acknowledges that there may be multiple closings for this Offering.

 

[REMAINDER OF
PAGE INTENTIONALLY LEFT BLANK]

 

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ANTI MONEY LAUNDERING REQUIREMENTS

 

	
        The USA PATRIOT Act 
	 	What is money 

laundering?	 	How big is the problem 

and why is it important?
	
         

        The USA PATRIOT Act is designed to detect, deter, and punish
        terrorists in the United States and abroad. The Act imposes new anti-money laundering requirements on brokerage firms and financial
        institutions. Since April 24, 2002 all brokerage firms have been required to have new, comprehensive anti-money laundering programs.

         

        To help you understand these efforts, we want to provide you
        with some information about money laundering and the Placement Agent’s efforts to implement the USA PATRIOT Act.
	 	
         

        Money laundering is the process of disguising illegally obtained
        money so that the funds appear to come from legitimate sources or activities. Money laundering occurs in connection with a wide
        variety of crimes, including illegal arms sales, drug trafficking, robbery, fraud, racketeering, and terrorism.
	 	
         

        The use of the U.S. financial system by criminals to facilitate
        terrorism or other crimes could well taint our financial markets. According to the U.S. State Department, one recent estimate puts
        the amount of worldwide money laundering activity at $1 trillion a year.

 

	What the Placement Agent is required to do to help eliminate money laundering?
	
         

        Under new rules required by the USA PATRIOT Act, the Placement
        Agent’s anti-money laundering program must designate a special compliance officer, set up employee training, conduct independent
        audits, and establish policies and procedures to detect and report suspicious transaction and ensure compliance with the new laws.
	 	
         

        As part of the Placement Agent’s required program, it
        may ask you to provide various identification documents or other information. Until you provide the information or documents that
        the Placement Agent needs, it may not be able to effect any transactions for you.

 

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Matinas
biopharma holdings, inc.

SIGNATURE PAGE TO THE

SUBSCRIPTION AGREEMENT

 

Subscriber hereby elects to subscribe
under the Subscription Agreement for a total of ______ Units at a price of $25,000 per Unit (NOTE: to be completed by subscriber)
and executes the Subscription Agreement.

 

Date (NOTE: To be completed by subscriber):
__________________

 

 

If the Purchaser is an INDIVIDUAL, and
if purchased as JOINT TENANTS, as TENANTS IN COMMON, or as COMMUNITY PROPERTY:

 

	 	 	 
	Print Name(s)	 	Social Security Number(s)
	 	 	 
	 	 	 
	 	 	 
	Signature(s) of Subscriber(s)	 	Signature
	 	 	 
	 	 	 
	 	 	 
	Date	 	Address

 

If the Purchaser is a PARTNERSHIP, CORPORATION,
LIMITED LIABILITY COMPANY or TRUST:

 

	 	 	 
	Name of Partnership,	 	Federal Taxpayer
	Corporation, Limited 	 	Identification Number
	Liability Company or Trust	 	 
	 	 	 
	By:	 	 	 
	 	Name:	 	State of Organization
	 	Title:	 	 
	 	 	 
	 	 	 
	Date	 	Address
	 	 	 
	 	 	 
	Matinas BIOPHARMA HOLDINGS, inc.	 	AEGIS CAPITAL CORP..
	 	 	 
	By:	 	 	By:	 
	 	Authorized Officer	 	 	Authorized Officer

 

    	12

    	 

    

 

MATINAS BIOPHARMA HOLDINGS, INC.

 

ACCREDITED INVESTOR CERTIFICATION

 

For Individual Investors Only

(all Individual Investors must INITIAL
where appropriate):

 

	Initial _______ 	 	I have an individual net worth, or joint net worth with my spouse, as of the date hereof in excess of $1 million.  For purposes of calculating net worth under this category, (i) the undersigned’s primary residence shall not be included as an asset, (ii) indebtedness that is secured by the undersigned’s primary residence, up to the estimated fair market value of the primary residence at the time of the sale of securities, shall not be included as a liability, (iii) to the extent that the indebtedness that is secured by the primary residence is in excess of the fair market value of the primary residence, the excess amount shall be included as a liability, and (iv) if the amount of outstanding indebtedness that is secured by the primary residence exceeds the amount outstanding 60 days prior to the execution of this Subscription Agreement, other than as a result of the acquisition of the primary residence, the amount of such excess shall be included as a liability.
	 	 	 
	Initial _______	 	I have had an annual gross income for the past two years of at least $200,000 (or $300,000 jointly with my spouse) and expect my income (or joint income, as appropriate) to reach the same level in the current year.
	 	 	 
	Initial _______	 	I am a director or executive officer of Matinas BioPharma Holdings, Inc.
	 	 	 
	For Non-Individual Investors
	(all Non-Individual Investors must INITIAL where appropriate):
	 	 	 
	Initial _______	 	The investor certifies that it is a partnership, corporation, limited liability company or business trust that is 100% owned by persons who meet at least one of the criteria for Individual Investors set forth above.
	 	 	 
	Initial _______	 	The investor certifies that it is a partnership, corporation, limited liability company or any organization described in Section 501(c)(3) of the Internal Revenue Code, Massachusetts or similar business trust that has total assets of at least $5 million and was not formed for the purpose of investing the Company.
	 	 	 
	Initial _______	 	The investor certifies that it is an employee benefit plan within the meaning of the Employee Retirement Income Security Act of 1974, whose investment decision is made by a plan fiduciary (as defined in ERISA §3(21)) that is a bank, savings and loan association, insurance company or registered investment adviser.

 

    	13

    	 

    

 

	Initial _______	 	The investor certifies that it is an employee benefit plan whose total assets exceed $5,000,000 as of the date of this Agreement.
	 	 	 
	Initial _______	 	The undersigned certifies that it is a self-directed employee benefit plan whose investment decisions are made solely by persons who meet either of the criteria for Individual Investors.
	 	 	 
	Initial _______	 	The investor certifies that it is a U.S. bank, U.S. savings and loan association or other similar U.S. institution acting in its individual or fiduciary capacity.
	 	 	 
	Initial _______	 	The undersigned certifies that it is a broker-dealer registered pursuant to §15 of the Securities Exchange Act of 1934.
	 	 	 
	Initial _______	 	The investor certifies that it is an organization described in §501(c)(3) of the Internal Revenue Code with total assets exceeding $5,000,000 and not formed for the specific purpose of investing in the Company.
	 	 	 
	Initial _______	 	The investor certifies that it is a trust with total assets of at least $5,000,000, not formed for the specific purpose of investing in the Company, and whose purchase is directed by a person with such knowledge and experience in financial and business matters that he is capable of evaluating the merits and risks of the prospective investment.
	 	 	 
	Initial _______	 	The investor certifies that it is a plan established and maintained by a state or its political subdivisions, or any agency or instrumentality thereof, for the benefit of its employees, and which has total assets in excess of $5,000,000.
	 	 	 
	Initial _______	 	The investor certifies that it is an insurance company as defined in §2(13) of the Securities Act, or a registered investment company.
	 	 	 
	Initial _______	 	An investment company registered under the Investment Company Act of 1940 or a business development company as defined in Section 2(a)(48) of that Act.
	 	 	 
	Initial _______	 	A Small Business Investment Company licensed by the U.S.  Small Business Administration under Section 301(c) or (d) of the Small Business Investment Act of 1958.
	 	 	 
	Initial _______	 	A private business development company as defined in Section 202(a)(22) of the Investment Advisers Act of 1940.

 

    	14

    	 

    

 

MATINAS BIOPHARMA HOLDINGS, INC.

Investor Profile

(MUST BE COMPLETED BY INVESTOR)

Section A - Personal
Investor Information

 

Investor Name(s): _____________________________________________________________________________________

Individual executing Profile or Trustee: ____________________________________________________________________

Social Security Numbers / Federal I.D. Number: _____________________________________________________________

 

	Date of Birth: 	 	 	Marital Status:	 
	Joint Party Date of Birth: 	 	 	Investment Experience (Years): 	 
	Annual Income: 	 	 	Liquid Net Worth: 	 

Net Worth (excluding value of primary residence):
____________________________

Tax Bracket:   ______ 15% or below          _____ 25%
- 27.5%             _____ Over 27.5%

Investment Objectives (circle
one or more): Preservation of Capital, Income, Capital Appreciation, Trading Profits, Speculation or Other (please
specify) * See definitions on following page

Home Street Address: __________________________________________________________________________________

Home City, State & Zip Code: ___________________________________________________________________________

Home Phone: ________________________ Home Fax: _______________________________
Home Email: ___________

Employer: ___________________________________________________________________________________________

Employer Street Address: _______________________________________________________________________________

Employer City, State & Zip Code: ________________________________________________________________________

Bus. Phone: _______________________________ Bus. Fax: _______________________________
Bus. Email: _________

Type of Business: _____________________________________________________________________________________

Aegis Capital Account Executive / Outside Broker/Dealer: ____________________________________________________

If you are a United States citizen,
please list the number and jurisdiction of issuance of any other government-issued document evidencing residence and bearing a
photograph or similar safeguard (such as a driver’s license or passport), and PROVIDE A PHOTOCOPY of each of
the documents you have listed.

 

 

If you are NOT a United
States citizen, for each jurisdiction of which you are a citizen or in which you work or reside, please list (i) your passport
number and country of issuance or (ii) alien identification card number AND (iii) number and country of issuance of any
other government-issued document evidencing nationality or residence and bearing a photograph or similar safeguard, and PROVIDE
A PHOTOCOPY of each of these documents you have listed. These photocopies must be certified by a lawyer as to authenticity.

 

 

  

Section B – Securities
Delivery Instructions

 

____ Please deliver securities to the Employer Address listed
in Section A.

____ Please deliver securities to the Home Address listed in
Section A.

____ Please deliver securities to the following address:

________________________________________________________.

 

Section C –Wire Transfer Instructions

 

____ I will wire funds from my outside
account according to the “Subscription Instructions” Page.

____ I will wire funds from my Aegis Capital
Account - See “Wire Transfer Authorization” Page.

____ The funds for this investment are
rolled over, tax deferred from __________ within the allowed 60 day window.

 

Please check if you are a FINRA member or
affiliate of a FINRA member firm: ________

  

	 	 	 	 
	 	 	 	 
	Investor Signature	 	Date	 
	 	 	 	 
	 	 	 	 
	Investor Signature	 	Date	 

 

    	15

    	 

    

 

Investment Objectives: The typical
investment listed with each objective are only some examples of the kinds of investments that have historically been consistent
with the listed objectives. However, neither Matinas BioPharma Holdings, Inc. nor Aegis Capital Corp. can assure that any investment
will achieve your intended objective. You must make your own investment decisions and determine for yourself if the investments
you select are appropriate and consistent with your investment objectives.

 

Neither Matinas BioPharma Holdings, Inc.,
nor Aegis Capital Corp. assume responsibility to you for determining if the investments you selected are suitable for you.

 

Preservation of Capital: An investment
objective of Preservation of Capital indicates you seek to maintain the principal value of your investments and are interested
in investments that have historically demonstrated a very low degree of risk of loss of principal value. Some examples of typical
investments might include money market funds and high quality, short-term fixed income products.

 

Income: An investment objective
of Income indicates you seek to generate income from investments and are interested in investments that have historically
demonstrated a low degree of risk of loss of principal value. Some examples of typical investments might include high quality,
short and medium-term fixed income products, short-term bond funds and covered call options.

 

Capital Appreciation: An investment
objective of Capital Appreciation indicates you seek to grow the principal value of your investments over time and are willing
to invest in securities that have historically demonstrated a moderate to above average degree of risk of loss of principal value
to pursue this objective. Some examples of typical investments might include common stocks, lower quality, medium-term fixed income
products, equity mutual funds and index funds.

 

Trading Profits: An investment objective
of Trading Profits indicates you seek to take advantage of short-term trading opportunities, which may involve establishing
and liquidating positions quickly. Some examples of typical investments might include short-term purchases and sales of volatile
or low priced common stocks, put or call options, spreads, straddles and/or combinations on equities or indexes. This is a high-risk
strategy.

 

Speculation: An investment objective
of Speculation indicates you seek a significant increase in the principal value of your investments and are willing to accept
a corresponding greater degree of risk by investing in securities that have historically demonstrated a high degree of risk of
loss of principal value to pursue this objective. Some examples of typical investments might include lower quality, long-term fixed
income products, initial public offerings, volatile or low priced common stocks, the purchase of sale of put or call options, spreads,
straddles and/or combinations on equities or indexes, and the use of short-term or day trading strategies.

 

Other: Please specify.

 

    	16VOTING
AGREEMENT

 

This VOTING AGREEMENT
(this “Agreement”) is entered into as of July [___], 2013 (the “Effective Date”) by
and among Matinas BioPharma Holdings, Inc., a Delaware corporation (the “Company”), the parties listed as stockholders
of Matinas BioPharma, Inc. (the “Matinas Stockholders”) on the signature pages hereto and the parties listed
as stockholders of the Company (the “Holdings Stockholders”) on the signature pages hereto (each, a “Stockholder”
and collectively, the “Stockholders”).

 

WITNESSETH:

 

WHEREAS, as of
the date hereof, each Stockholder holds and is entitled to vote (or to direct the voting of) shares of voting common stock, par
value $0.0001 per share (the “Voting Common Shares”), of the Company, (such Voting Common Shares, together
with any other Voting Common Shares the voting power of which is acquired by such Stockholders during the period from the date
hereof through the date on which this Agreement is terminated in accordance with its terms (such period, the “Voting
Period”), are collectively referred to herein as the “Subject Shares”);

 

WHEREAS, the
Company has entered into an Agreement and Plan of Merger with Matinas BioPharma, Inc., a Delaware corporation (“Matinas”),
pursuant to which a newly organized, wholly-owned subsidiary of the Company has merged with and into Matinas, with Matinas remaining
as the surviving entity and a wholly-owned subsidiary of the Company (the “Merger”);

 

WHEREAS, simultaneously
with the Merger and to provide the capital required by the Company for working capital and other purposes, the Company has offered
in compliance with Rule 506 of Regulation D and/or Regulation S of the Securities Act of 1933, as amended, to investors in a private
placement transaction (the “PPO”), units (“Units”) of its securities, each Unit consisting
of Two Hundred Fifty Thousand (250,000) shares of Common Stock (the “Investor Shares”) and One Hundred Twenty
Five Thousand (125,000) Series 1 warrants (the “Investor Warrants”) to purchase One Hundred Twenty Five Thousand
shares of Common Stock;

 

WHEREAS, the
initial closing of the PPO and the closing of the Merger have taken place as of the Effective Date; and

 

WHEREAS, as an
inducement to the parties’ willingness to consummate the transactions contemplated by the Merger Agreement, the Company
and the Stockholders are entering into this Agreement.

 

Now,
Therefore, in consideration of the mutual promises, representations, warranties, covenants, and conditions set forth
herein, the parties mutually agree as follows:

 

    	 

    	 

    

  

ARTICLE
I

DEFINITIONS

 

Section
1.1           Capitalized Terms. For purposes of this
Agreement, capitalized terms used and not defined herein shall have the respective meanings ascribed to them in the Merger Agreement.

 

ARTICLE
II 

VOTING AGREEMENT AND IRREVOCABLE PROXY

 

Section
2.1           Agreement to Vote the Subject Shares. Each
Stockholder hereby agrees that, during the Voting Period, at any duly called meeting of the stockholders of the Company (or any
adjournment or postponement thereof) or action taken by written consent in lieu of a meeting, each Stockholder shall, if a meeting
is held, appear at the meeting, in person or by proxy, or otherwise cause his Subject Shares owned at any time to be counted as
present thereat for purposes of establishing a quorum, and he shall vote (or cause to be voted), in
person or by proxy, all of his Subject Shares:

 

(a)             to
ensure that the size of the Board shall be set and remain at five (5) directors unless increased by the Board.

 

(b)             to
ensure that at each annual or special meeting of stockholders at which an election of directors is held or pursuant to any written
consent of the Stockholders, the following persons shall be elected to the Board:

 

(i)             One
person designated by Aegis Capital Corp. (the “Aegis Designee”), which individual shall initially be Adam Stern.

 

(ii)            Four
people designated by the Matinas Stockholders (the “Matinas Designees”), which individuals shall initially
be Herbert Conrad, Roelof Rongen, Stefano Ferrari and Jerome Jabbour.

 

Section
2.2           Grant of Irrevocable Proxy. If requested
by the Company, each Stockholder shall appoint the Company and any designee of the Company, and each of them individually, as
each Stockholder’s proxy, with full power of substitution and resubstitution, to vote during the Voting Period with respect
to any and all of the Subject Shares on the matters and in the manner specified in Section 2.1. Each Stockholder shall
take such further action or execute such other instruments as may be reasonably necessary to effectuate the intent of any such
proxy. Each Stockholder affirms that any irrevocable proxy given by him with respect to this Agreement and the transactions contemplated
hereby shall be given to the Company by such Stockholder to secure the performance of the obligations of the Stockholder under
this Agreement. It is agreed that the Company (and its officers on behalf of the Company) will use the irrevocable proxy that
may be granted by each Stockholder only in accordance with applicable Law and only if such Stockholder fails to comply with Section 2.1
and that, to the extent the Company (and its officers on behalf of the Company) uses any such irrevocable proxy, he will only
vote the Subject Shares subject to such irrevocable proxy with respect to the matters specified in, and in accordance with the
provisions of, Section 2.1.

 

    	-2-

    	 

    

 

Section
2.3           Nature of Irrevocable Proxy. Any proxy
granted pursuant to Section 2.2 to the Company by the Stockholders shall be irrevocable during the term of this Agreement,
shall be deemed to be coupled with an interest sufficient in law to support an irrevocable proxy and shall revoke any and all
prior proxies granted by the Stockholders. Any proxy that may be granted hereunder shall terminate upon the termination of this
Agreement.

 

ARTICLE
III

COVENANTS

 

Section
3.1           Subject Shares.

 

(a)             Each
Stockholder agrees that during the Voting Period he shall not, without the Company’s prior written consent, grant any proxies
or powers of attorney with respect to any or all of the Subject Shares or agree to vote the Subject Shares on any matter inconsistent
with the terms described herein; provided, however, that in the event a Stockholder transfers all or any portion of his Subject
Shares such Stockholder shall be permitted to grant stock powers with respect to such transferred Subject Shares.

 

(b)             In
the event of a stock dividend or distribution, or any change in the Subject Shares by reason of any stock dividend or distribution,
split-up, recapitalization, combination, conversion, exchange of shares or the like, the term “Subject Shares” shall
be deemed to refer to and include the Subject Shares as well as all such stock dividends and distributions and any securities
into which or for which any or all of the Subject Shares may be changed or exchanged or which are received in such transaction.

 

Section
3.2           Voting Trusts. Each Stockholder agrees
that he will not, nor will he permit any entity under his control to, deposit any of his Subject Shares in a voting trust or subject
any of his Subject Shares to any arrangement with respect to the voting of such Subject Shares other than as provided herein.
Notwithstanding the foregoing, each Stockholder shall be permitted to transfer all or any portion of his Subject Shares to third
parties.

 

ARTICLE
IV

REPRESENTATIONS
AND WARRANTIES Of each STOCKHOLDER

 

Each Stockholder hereby represents and
warrants to the Company, severally, but not jointly, as follows:

 

Section
4.1           Due Organization, etc. Each Stockholder
has all necessary power and authority to execute and deliver this Agreement and to consummate the transactions contemplated hereby.
This Agreement has been duly executed and delivered by each Stockholder and (assuming the due authorization, execution and delivery
by the Company) constitutes a valid and binding obligation of such Stockholder, enforceable against such Stockholder in accordance
with its terms, except to the extent enforcement is limited by bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium
and similar laws of general applicability relating to or affecting creditors’ rights and by general equitable principles.

 

    	-3-

    	 

    

  

Section
4.2           Ownership of Shares. As of the date hereof,
each Stockholder is the lawful owner of the Voting Common Shares owned by such Stockholder hereto and has the sole power to vote
or cause to be voted such shares or shares power to vote or cause to be voted such shares solely with one or more other persons.
Each Stockholder has good and valid title to the Voting Common Shares owned by each Stockholder, free and clear of any and all
pledges, mortgages, liens, charges, proxies, voting agreements, encumbrances, adverse claims, options, security interests and
demands of any nature or kind whatsoever, other than (i) those created by this Agreement, or (ii) those existing under applicable
securities laws.

 

Section
4.3           No Conflicts. (a) No authorization,
consent or approval of any other person is necessary for the execution of this Agreement by each Stockholder and (b) none of the
execution and delivery of this Agreement by each Stockholder, the consummation by each Stockholder of the transactions contemplated
hereby or compliance by each Stockholder with any of the provisions hereof shall (i) result in, or give rise to, a violation or
breach of or a default under any of the terms of any material contract, understanding, agreement or other instrument or obligation
to which each Stockholder is a party or by which each Stockholder or any of the Subject Shares or its assets may be bound or (ii)
violate any applicable order, writ, injunction, decree, judgment, statute, rule or regulation, except for any of the foregoing
as would not reasonably be expected to materially impair each Stockholder’s ability to perform his obligations under this
Agreement.

 

ARTICLE
V

REPRESENTATIONS
AND WARRANTIES OF THE COMPANY

 

The Company hereby represents and warrants
to each Stockholder as follows:

 

Section
5.1           Due Organization, etc. The Company is a
Delaware corporation duly organized and validly existing under the Laws of the jurisdiction of its organization. The Company has
all necessary corporate power and authority to execute and deliver this Agreement and to consummate the transactions contemplated
hereby. The execution and delivery of this Agreement and the consummation of the transactions contemplated hereby by the Company
have been duly authorized by all necessary corporate action on the part of the Company. This Agreement has been duly executed
and delivered by the Company and (assuming the due authorization, execution and delivery by each Stockholder) constitutes a valid
and binding obligation of the Company, enforceable against the Company in accordance with its terms, except to the extent enforcement
is limited by bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability
relating to or affecting creditors’ rights and by general equitable principles.

 

Section
5.2           No Conflicts. (a) No authorization, consent
or approval of any other person is necessary for the execution of this Agreement by the Company and (b) none of the execution
and delivery of this Agreement by the Company, the consummation by the Company of the transactions contemplated hereby or compliance
by the Company with any of the provisions hereof shall (i) conflict with or result in any breach of the organizational documents
of the Company, (ii) result in, or give rise to, a violation or breach of or a default under any of the terms of any material
contract, understanding, agreement or other instrument or obligation to which the Company is a party or by which the Company or
any of its assets may be bound or (iii) violate any applicable order, writ, injunction, decree, judgment, statute, rule or regulation,
except for any of the foregoing as would not reasonably be expected to materially impair the Company’s ability to perform
its obligations under this Agreement.

 

    	-4-

    	 

    

  

ARTICLE
VI

TERMINATION

 

Section
6.1           Termination. This Agreement shall automatically
terminate, and neither the Company nor the Stockholders shall have any rights or obligations hereunder and this Agreement shall
become null and void and have no effect upon the earliest to occur of: (a) the approval of the holders of at least 75% of the
Subject Shares, (b) the closing of a firm commitment underwritten public offering of the Company’s shares of Common Stock
resulting in gross proceeds of at least $20 million, or (c) three years from the effective date of the Merger. The termination
of this Agreement shall not prevent either party from seeking any remedies (at law or in equity) against the other party or relieve
any party from liability for such party’s willful and material breach of any terms of this Agreement. Notwithstanding anything
to the contrary herein, the provisions of Article VII shall survive the termination of this Agreement.

 

ARTICLE
VII

MISCELLANEOUS

 

Section
7.1           Further Actions.
Each of the parties hereto agrees to take any all actions and to do all things
reasonably necessary or appropriate to effectuate this Agreement.

 

Section
7.2           Amendments, Waivers,
etc. This Agreement may not be amended, changed, supplemented, waived or otherwise modified, except upon the execution and
delivery of a written agreement executed by the holders of at least 75% of the Subject Shares. The failure of any party hereto
to exercise any right, power or remedy provided under this Agreement or otherwise available in respect hereof at law or in equity,
or to insist upon compliance by any other party hereto with its obligations hereunder, and any custom or practice of the parties
at variance with the terms hereof shall not constitute a waiver by such party of its right to exercise any such or other right,
power or remedy or to demand such compliance.

 

Section
7.3           Notices. All
notices or other communications which are required or permitted under this Agreement shall be in writing and sufficient if delivered
by hand, by facsimile transmission, by registered or certified mail, post pre-paid, by electronic mail or by courier or overnight
carrier, to the persons at the addresses set forth below (or at such other address as may be provided hereunder), and shall be
deemed to have been delivered as of the date so delivered:

 

If to the Company to:

 

Matinas BioPharma Holdings, Inc.

915 Klosterman Road East

Tarpon Springs, FL 34689

Attention: President & CEO

E-mail: rrongen@matinasbiopharma.com

 

    	-5-

    	 

    

  

with copy to:

 

Lowenstein Sandler LLP

1251 Avenue of the Americas

New York, NY 10020

Attn: Steven M. Skolnick, Esq.

Facsimile: (973) 597 2477

 

If to the Stockholders:

 

To each Stockholder at the address set
forth on the signature page hereto or at such other address as any party shall have furnished to the other parties in writing.

 

Section
7.4           Headings. Headings of the Articles and
Sections of this Agreement are for convenience of the parties only, and shall be given no substantive or interpretive effect whatsoever.

 

Section
7.5           Severability. The provisions of this Agreement
shall be deemed severable and the invalidity or unenforceability of any provision shall not affect the validity or enforceability
of the other provisions hereof. If any provision of this Agreement, or the application of such provision to any person or any
circumstance, is invalid or unenforceable (a) a suitable and equitable provision shall be substituted therefor in order to carry
out, so far as may be valid and enforceable, the intent and purpose of such invalid or unenforceable provision and (b) the remainder
of this Agreement and the application of such provision to other persons or circumstances shall not be affected by such invalidity
or unenforceability, nor shall such invalidity or unenforceability affect the validity or enforceability of such provision, or
the application of such provision, in any other jurisdiction.

 

Section
7.6           Entire Agreement; Assignment. This Agreement
constitutes the entire agreement, and supersedes all other prior agreements and understandings, both written and oral, between
the parties, or any of them, with respect to the subject matter hereof. Neither this Agreement nor any of the rights, interests
or obligations hereunder shall be assigned by any of the parties hereto (whether by operation of law or otherwise) without the
prior written consent of the other parties. Subject to the preceding two sentences, this Agreement will be binding upon, inure
to the benefit of and be enforceable by the parties hereto and their respective successors and permitted assigns.

 

Section
7.7           Parties in Interest. The Company and the
Stockholders hereby agree that their respective representations, warranties and covenants set forth herein are solely for the
benefit of the other party hereto, in accordance with and subject to the terms of this Agreement, and this Agreement is not intended
to, and does not, confer upon any person other than the parties hereto any rights or remedies hereunder, including, without limitation,
the right to rely upon the representations and warranties set forth herein. The representations and warranties in this Agreement
are the product of negotiations among the parties hereto and are for the sole benefit of the parties hereto. Any inaccuracies
in such representations and warranties are subject to waiver by the parties hereto in accordance with Section 7.2 without
notice or liability to any other person. In some instances, the representations and warranties in this Agreement may represent
an allocation among the parties hereto of risks associated with particular matters regardless of the knowledge of any of the parties
hereto. Consequently, persons other than the parties hereto may not rely upon the representations and warranties in this Agreement
as characterizations of actual facts or circumstances as of the date of this Agreement or as of any other date.

 

    	-6-

    	 

    

  

Section
7.8           Interpretation. When a reference is made
in this Agreement to an Article or Section, such reference shall be to an Article or Section of this Agreement unless otherwise
indicated. Whenever the words “include,” or “including” are used in this Agreement, they shall be deemed
to be followed by the words “without limitation.” The words “hereof,” “herein” and “hereunder”
and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision
of this Agreement. All terms defined in this Agreement shall have the defined meanings when used in any certificate or other document
made or delivered pursuant thereto unless otherwise defined therein. The definitions contained in this Agreement are applicable
to the singular as well as the plural forms of such terms and to the masculine as well as to the feminine and neuter genders of
such term. Any agreement, instrument or statute defined or referred to herein or in any agreement or instrument that is referred
to herein means such agreement, instrument or statute as from time to time amended, modified or supplemented in accordance with
the terms hereof, including (in the case of agreements or instruments) by waiver or consent and (in the case of statutes) by succession
of comparable successor statutes and references to all attachments thereto and instruments incorporated therein. References to
a person are also to its permitted successors and assigns. Each of the parties has participated in the drafting and negotiation
of this Agreement. If an ambiguity or question of intent or interpretation arises, this Agreement must be construed as if drafted
by all the parties and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of authorship
of any of the provisions of this Agreement.

 

Section
7.9           Governing Law.  THIS AGREEMENT SHALL BE
DEEMED TO BE MADE IN AND IN ALL RESPECTS SHALL BE INTERPRETED, CONSTRUED AND GOVERNED BY AND IN ACCORDANCE WITH THE LAW OF THE
STATE OF NEW YORK WITHOUT REGARD TO THE CONFLICTS OF LAW PRINCIPLES THEREOF.

 

Section
7.10         Specific Performance.
The parties acknowledge that any breach of this Agreement would give rise to irreparable harm for which monetary damages would
not be an adequate remedy and that, in addition to other rights or remedies, the parties shall be entitled to seek enforcement
of any provision of this Agreement by a decree of specific performance and to temporary, preliminary and permanent injunctive
relief to prevent breaches or threatened breaches of any of the provisions of this Agreement, without the necessity of proving
the inadequacy of monetary damages as a remedy.

 

    	-7-

    	 

    

 

Section
7.11         Submission to Jurisdiction. The parties hereby irrevocably
submit to the exclusive jurisdiction of the United States District Court for the Southern District of New York located in the
borough of Manahattan in the City of New York, or if such court does not have jurisdiction, the Supreme Court of the State of
New York, New York County, for the purposes of any suit, action or other proceeding arising out of this Agreement or any transaction
contemplated hereby. Each of the parties hereto further agrees that service of any process, summons, notice or document by registered
mail to such party’s respective address set forth in Section 7.3 (or to such other address for notices as provided
by such party pursuant to Section 7.3) or in any other manner permitted by law shall be effective service of process for
any action, suit or proceeding in New York with respect to any matters to which it has submitted to jurisdiction as set forth
above in the immediately preceding sentence. Each of the parties hereto irrevocably and unconditionally waives any objection to
the laying of venue of any action, suit or proceeding arising out of this Agreement or the transactions contemplated hereby in
(i) the United States District Court for the Southern District of New York or (ii) the Supreme Court of the State of New York,
New York County, and hereby further irrevocably and unconditionally waives and agrees not to please or claim in any such court
that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum.

 

Section
7.12         Waiver of Jury Trial. EACH PARTY ACKNOWLEDGES AND
AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE
EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY
LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT.
EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (I) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY
OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (II) EACH PARTY
UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (III) EACH PARTY MAKES THIS WAIVER VOLUNTARILY, AND (IV) EACH
PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION
7.12.

 

Section
7.13         Counterparts. This Agreement may be executed in two
or more counterparts (including by facsimile or electronic submission via .pdf file), each of which shall be an original, with
the same effect as if the signatures thereto and hereto were upon the same instrument, and shall become effective when one or
more counterparts have been signed by each of the parties and delivered (including by facsimile or electronic submission via .pdf
file) to the other parties.

 

[Signature Pages Follow] 

 

    	-8-

    	 

    

 

IN WITNESS WHEREOF, the undersigned
have caused this Agreement to be duly executed as of the day and year first above written.

 

	 	MATINAS BIOPHARMA

        HOLDINGS, INC.

	 	 
	 	By:	 
	 	 	Name:   Stephen P. Harrington
	 	 	Title:     President

 

[Signatures Continue on the Next Page]

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