Document:

Exhibit 10.4

 

FORM OF GUARANTY

 

GUARANTY, dated as of
February __, 2015, made by the undersigned (together with each other Person that executes a joinder agreement and becomes a "Guarantor"
hereunder each a "Guarantor", and collectively, the "Guarantors"), in favor of the "Buyers"
(as defined below) party to the Securities Purchase Agreement referenced below.

 

WITNESSETH:

 

WHEREAS, Enerpulse Technologies,
Inc., a Nevada corporation (the "Company"), and each party listed as a "Buyer" on the Schedule
of Buyers attached to the Securities Purchase Agreement (together with their respective successors and assigns, each a "Buyer",
and collectively, the "Buyers") are parties to that certain Securities Purchase Agreement, dated as of February
[__], 2015 (as amended, restated, supplemented or otherwise modified from time to time, the "Securities Purchase Agreement"),
pursuant to which, among other things, the Buyers shall purchase from the Company certain senior secured convertible "Notes"
(as defined in the Securities Purchase Agreement) (collectively, the "Notes");

 

WHEREAS, the Buyers have
requested, and the Guarantors have agreed, that the Guarantors shall execute and deliver to the Buyers, a guaranty guaranteeing
all of the obligations of the Company under the Securities Purchase Agreement, the Notes (as defined in the Securities Purchase
Agreement) and the Security Documents (as defined in the Securities Purchase Agreement) (collectively, the "Guaranteed
Transaction Documents");

 

WHEREAS, pursuant to
a Pledge and Security Agreement, dated as of the date hereof (the "Security Agreement"), the Company and the Guarantors
have granted to AIGH Investment Partners, LLC, as collateral agent for the Buyers (in such capacity, the "Collateral Agent"),
a security interest in and lien on their assets to secure their respective obligations under this Guaranty, the Securities Purchase
Agreement, the Notes and the other Guaranteed Transaction Documents; and

 

WHEREAS, each Guarantor
has determined that the execution, delivery and performance of this Guaranty directly benefits, and is in the best interest of,
such Guarantor.

 

NOW, THEREFORE, in consideration
of the premises and the agreements herein and for other consideration, the sufficiency of which is hereby acknowledged, each Guarantor
hereby agrees with each Buyer as follows:

 

SECTION 1. Definitions.
Reference is hereby made to the Securities Purchase Agreement and the Notes for a statement of the terms thereof. All terms used
in this Guaranty, which are defined in the Securities Purchase Agreement or the Notes and not otherwise defined herein, shall have
the same meanings herein as set forth therein.

 

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SECTION 2. Guaranty.
The Guarantors, jointly and severally, hereby unconditionally and irrevocably, guaranty (a) the punctual payment, as and when due
and payable, by stated maturity or otherwise, of all obligations and any other amounts now or hereafter owing by the Company in
respect of the Securities Purchase Agreement, the Notes and the other Guaranteed Transaction Documents, including, without limitation,
all interest that accrues after the commencement of any proceeding commenced by or against any the Company or any Guarantor under
any provision of the Bankruptcy Code (Chapter 11 of Title 11 of the United States Code) or under any other bankruptcy or insolvency
law, assignments for the benefit of creditors, formal or informal moratoria, compositions, or extensions generally with creditors,
or proceedings seeking reorganization, arrangement, or other similar relief (an "Insolvency Proceeding"), whether
or not the payment of such interest is unenforceable or is not allowable due to the existence of such Insolvency Proceeding, and
all fees, commissions, expense reimbursements, indemnifications and all other amounts due or to become due under any of the Guaranteed
Transaction Documents, and any and all expenses (including reasonable counsel fees and expenses) reasonably incurred by the Buyers
or the Collateral Agent in enforcing any rights under this Guaranty (such obligations, to the extent not paid by the Company, being
the "Guaranteed Obligations") and (b) the punctual and faithful performance, keeping, observance and fulfillment
by the Company of all of the agreements, conditions, covenants and obligations of the Company contained in the Securities Purchase
Agreement, the Notes and the other Guaranteed Transaction Documents. Without limiting the generality of the foregoing, each Guarantor's
liability hereunder shall extend to all amounts that constitute part of the Guaranteed Obligations and would be owed by the Company
to the Buyers under the Securities Purchase Agreement and the Notes but for the fact that they are unenforceable or not allowable
due to the existence of an Insolvency Proceeding involving any Guarantor or the Company (each, a "Transaction Party").

 

SECTION 3. Guaranty
Absolute; Continuing Guaranty; Assignments.

 

(a)          The Guarantors,
jointly and severally, guaranty that the Guaranteed Obligations will be paid strictly in accordance with the terms of the Guaranteed
Transaction Documents, regardless of any law, regulation or order now or hereafter in effect in any jurisdiction affecting any
of such terms or the rights of the Buyers with respect thereto. The obligations of each Guarantor under this Guaranty are independent
of the Guaranteed Obligations, and a separate action or actions may be brought and prosecuted against any Guarantor to enforce
such obligations, irrespective of whether any action is brought against any Transaction Party or whether any Transaction Party
is joined in any such action or actions. The liability of any Guarantor under this Guaranty shall be irrevocable, absolute and
unconditional irrespective of, and each Guarantor hereby irrevocably waives, to the extent permitted by law, any defenses it may
now or hereafter have in any way relating to, any or all of the following:

 

(i)          any lack of
validity or enforceability of any Guaranteed Transaction Document or any agreement or instrument relating thereto;

 

(ii)         any change
in the time, manner or place of payment of, or in any other term of, all or any of the Guaranteed Obligations, or any other amendment
or waiver of or any consent to departure from any Guaranteed Transaction Document, including, without limitation, any increase
in the Guaranteed Obligations resulting from the extension of additional credit to any Transaction Party or otherwise, in each
case, in accordance with the respective terms thereof;

 

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(iii)        any taking,
exchange, release or non-perfection of any collateral with respect to the Guaranteed Obligations, or any taking, release or amendment
or waiver of or consent to departure from any other guaranty, for all or any of the Guaranteed Obligations; or

 

(iv)        any change,
restructuring or termination of the corporate, limited liability company or partnership structure or existence of any Transaction
Party.

 

This Guaranty shall continue to be effective
or be reinstated, as the case may be, if at any time any payment of any of the Guaranteed Obligations is rescinded or must otherwise
be returned by any Buyer or any other Person upon the insolvency, bankruptcy or reorganization of any Transaction Party or otherwise,
all as though such payment had not been made.

 

(b)          This Guaranty
is a continuing guaranty and shall (i) remain in full force and effect until the complete conversion of all of the Company's obligations
under the Notes to equity securities of the Company and/or payment in full in cash of all obligations under the Notes (together
with any matured indemnification obligations as of the date of such conversion and/or payment, but excluding any inchoate or unmatured
contingent indemnification obligations) and payment of all other amounts payable under this Guaranty (excluding any inchoate or
unmatured contingent indemnification obligations) and (ii) be binding upon each Guarantor and its respective successors and assigns.
This Guaranty shall inure to the benefit of and be enforceable by the Buyers and their respective successors, and permitted pledgees,
transferees and assigns. Without limiting the generality of the foregoing sentence, any Buyer may pledge, assign or otherwise transfer
all or any portion of its rights and obligations under and subject to the terms of any Guaranteed Transaction Document to any other
Person as and to the extent and in the manner each Note is subject to pledge, assignment and transfer pursuant to the terms of
each such Note, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to such Buyer
herein or otherwise, in each case as provided in the Securities Purchase Agreement or such Guaranteed Transaction Document. Notwithstanding
the foregoing and for the avoidance of doubt, this Guaranty will expire and each Guarantor will be released from its obligation
hereunder upon the complete conversion of all of the Company's obligations under the Notes to equity securities of the Company
and/or payment in full in cash of all obligations under the Notes (together with any matured indemnification obligations as of
the date of such conversion and/or payment, but excluding any inchoate or unmatured contingent indemnification obligations) and
payment of all other amounts payable under this Guaranty (excluding any inchoate or unmatured contingent indemnification obligations).

 

SECTION 4. Waivers.
To the extent permitted by applicable law, each Guarantor hereby waives promptness, diligence, notice of acceptance and any other
notice with respect to any of the Guaranteed Obligations and this Guaranty and any requirement that the Buyers or the Collateral
Agent exhaust any right or take any action against any Transaction Party or any other Person or any Collateral (as defined in the
Security Agreement). Each Guarantor acknowledges that it will receive direct and indirect benefits from the financing arrangements
contemplated herein and that the waiver set forth in this Section 4 is knowingly made in contemplation of such benefits.
The Guarantors hereby waive any right to revoke this Guaranty, and acknowledge that this Guaranty is continuing in nature and applies
to all Guaranteed Obligations, whether existing now or in the future.

 

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SECTION 5. Subrogation.
No Guarantor may exercise any rights that it may now or hereafter acquire against any Transaction Party or any other guarantor
that arise from the existence, payment, performance or enforcement of any Guarantor's obligations under this Guaranty, including,
without limitation, any right of subrogation, reimbursement, exoneration, contribution or indemnification and any right to participate
in any claim or remedy of the Buyers or the Collateral Agent against any Transaction Party or any other guarantor or any Collateral
(as defined in the Security Agreement), whether or not such claim, remedy or right arises in equity or under contract, statute
or common law, including, without limitation, the right to take or receive from any Transaction Party or any other guarantor, directly
or indirectly, in cash or other property or by set-off or in any other manner, payment or security solely on account of such claim,
remedy or right, unless and until the complete conversion of all of the Company's obligations under the Notes to equity securities
of the Company and/or payment in full in cash of all obligations under the Notes (together with any matured indemnification obligations
as of the date of such conversion and/or payment, but excluding any inchoate or unmatured contingent indemnification obligations)
and payment of all other amounts payable under this Guaranty (excluding any inchoate or unmatured contingent indemnification obligations).
If any amount shall be paid to a Guarantor in violation of the immediately preceding sentence at any time prior to the later of
the payment in full in cash of the Guaranteed Obligations and all other amounts payable under this Guaranty, such amount shall
be held in trust for the benefit of the Buyers and shall forthwith be paid ratably to the Buyers to be credited and applied to
the Guaranteed Obligations and all other amounts payable under this Guaranty, whether matured or unmatured, in accordance with
the terms of the Guaranteed Transaction Documents, or to be held as collateral for any Guaranteed Obligations or other amounts
payable under this Guaranty thereafter arising. If (a) any Guarantor shall make payment to the Buyers of all or any part of
the Guaranteed Obligations, and (b) the Buyers receive the complete conversion of all of the Company's obligations under the
Notes to equity securities of the Company and/or payment in full in cash of all obligations under the Notes (together with any
matured indemnification obligations as of the date of such conversion and/or payment, but excluding any inchoate or unmatured contingent
indemnification obligations) and payment of all other amounts payable under this Guaranty (excluding any inchoate or unmatured
contingent indemnification obligations), the Buyers will, at such Guarantor's request and expense, execute and deliver to such
Guarantor appropriate documents, without recourse and without representation or warranty, necessary to evidence the transfer by
subrogation to such Guarantor of an interest in the Guaranteed Obligations resulting from such payment by such Guarantor.

 

SECTION 6. Representations,
Warranties and Covenants.

 

(a)          Each Guarantor
hereby represents and warrants as of the date first written above as follows:

 

(i)          Each Guarantor
(A) is a corporation, limited liability company or limited partnership duly organized, validly existing and in good standing under
the laws of the jurisdiction of its organization as set forth on the signature pages hereto, (B) has all requisite corporate, limited
liability company or limited partnership power and authority to conduct its business as now conducted and as presently contemplated
and to execute and deliver this Guaranty and each other Guaranteed Transaction Document to which the Guarantor is a party, and
to consummate the transactions contemplated hereby and thereby and (C) is duly qualified to do business and is in good standing
in each jurisdiction in which the character of the properties owned or leased by it or in which the transaction of its business
makes such qualification necessary except where the failure to be so qualified would not result in a Material Adverse Effect.

 

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(ii)         The execution,
delivery and performance by each Guarantor of this Guaranty and each other Guaranteed Transaction Document to which such Guarantor
is a party (A) have been duly authorized by all necessary corporate, limited liability company or limited partnership action, (B)
do not and will not contravene its charter or by-laws, its limited liability company or operating agreement or its certificate
of partnership or partnership agreement, as applicable, or, in any material respect, any applicable law or any contractual restriction
binding on the Guarantor or its properties do not and will not result in or require the creation of any lien (other than pursuant
to any Guaranteed Transaction Document) upon or with respect to any of its properties, and (C) do not and will not result in any
material default, noncompliance, suspension, revocation, impairment, forfeiture or nonrenewal of any material permit, license,
authorization or approval applicable to it or its operations or any of its properties.

 

(iii)        No authorization
or approval or other action by, and no notice to or filing with, any governmental authority is required in connection with the
due execution, delivery and performance by the Guarantor of this Guaranty or any of the other Guaranteed Transaction Documents
to which the Guarantor is a party (other than expressly provided for in any of the Guaranteed Transaction Documents) except those
with have been obtained or made or those which the failure to obtain or make could not reasonably be expected to have a Material
Adverse Effect.

 

(iv)        Each of this
Guaranty and the other Guaranteed Transaction Documents to which the Guarantor is or will be a party, when delivered, will be,
a legal, valid and binding obligation of the Guarantor, enforceable against the Guarantor in accordance with its terms, except
as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance, suretyship or other
similar laws and equitable principles (regardless of whether enforcement is sought in equity or at law).

 

(v)         There is no
pending or, to the best knowledge of the Guarantor, threatened action, suit or proceeding against the Guarantor or to which any
of the properties of the Guarantor is subject, before any court or other governmental authority or any arbitrator that (A) if
adversely determined, could reasonably be expected to have a Material Adverse Effect or (B) relates to this Guaranty or any
of the other Guaranteed Transaction Documents to which the Guarantor is a party or any transaction contemplated hereby or thereby.

 

(vi)        The Guarantor
(A) has read and understands the terms and conditions of the Securities Purchase Agreement, the Notes and the other Guaranteed
Transaction Documents, and (B) now has and will continue to have independent means of obtaining information concerning the
affairs, financial condition and business of the Company and the other Transaction Parties, and has no need of, or right to obtain
from the Collateral Agent or any Buyer, any credit or other information concerning the affairs, financial condition or business
of the Company or the other Transaction Parties that may come under the control of the Collateral Agent or any Buyer.

 

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(b)          The Guarantor
covenants and agrees that until the complete conversion of all of the Company's obligations under the Notes to equity securities
of the Company and/or payment in full in cash of all obligations under the Notes (together with any matured indemnification obligations
as of the date of such conversion and/or payment, but excluding any inchoate or unmatured contingent indemnification obligations)
and payment of all other amounts payable under this Guaranty (excluding any inchoate or unmatured contingent indemnification obligations),
it will comply with each of the covenants (except to the extent applicable only to a public company) which are set forth in Section 4
of the Securities Purchase Agreement which are expressly applicable to it as if the Guarantor were a party thereto.

 

SECTION 7. Right of
Set-off. Upon the occurrence and during the continuance of any Event of Default, the Collateral Agent and any Buyer may,
and is hereby authorized to, at any time and from time to time, without notice to the Guarantors (any such notice being expressly
waived by each Guarantor) and to the fullest extent permitted by law, set-off and apply any and all deposits (general or special,
time or demand, provisional or final) at any time held and other indebtedness at any time owing by any Buyer to or for the credit
or the account of any Guarantor against any and all obligations of the Guarantors now or hereafter existing under this Guaranty
or any other Guaranteed Transaction Document, irrespective of whether or not Collateral Agent or any Buyer shall have made any
demand under this Guaranty or any other Guaranteed Transaction Document and although such obligations may be contingent or unmatured.
Collateral Agent and each Buyer agrees to notify the relevant Guarantor promptly after any such set-off and application made by
such Buyer, provided that the failure to give such notice shall not affect the validity of such set-off and application. The rights
of the Collateral Agent or any Buyer under this Section 7 are in addition to other rights and remedies (including,
without limitation, other rights of set-off) which the Collateral Agent or such Buyer may have under this Guaranty or any other
Guaranteed Transaction Document in law or otherwise.

 

SECTION 8. Notices,
Etc. All notices and other communications provided for hereunder shall be in writing and shall be mailed (by overnight mail
or by certified mail, postage prepaid and return receipt requested), telecopied or delivered, if to any Guarantor, to the address
for such Guarantor set forth on the signature page hereto, or if to any Buyer, to it at its respective address set forth in the
Securities Purchase Agreement; or as to any Person at such other address as shall be designated by such Person in a written notice
to such other Person complying as to delivery with the terms of this Section 8. All such notices and other communications
shall be effective (i) if mailed (by certified mail, postage prepaid and return receipt requested), when received or three Business
Days after deposited in the mails, whichever occurs first; (ii) if telecopied, when transmitted and confirmation is received, provided
same is on a Business Day and, if not, on the next Business Day; or (iii) if delivered by hand, upon delivery, provided same is
on a Business Day and, if not, on the next Business Day. Upon receipt or delivery by any Guarantor of any notice in accordance
with the terms of this Guaranty unless the Company has in good faith determined that the matters relating to such notice do not
constitute material, nonpublic information relating to the Company or its Subsidiaries, the Company shall within two (2) Business
Days after any such receipt or delivery publicly disclose such material, nonpublic information on a Current Report on Form 8-K
or otherwise. In the event that the Company believes that a notice contains material, nonpublic information relating to the Company
or its Subsidiaries, the Company so shall indicate to the Collateral Agent and the Buyers contemporaneously with delivery of such
notice, and in the absence of any such indication, the Collateral Agent and any Buyer shall be allowed to presume that all matters
relating to such notice do not constitute material, nonpublic information relating to the Company or its Subsidiaries.

 

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SECTION 9. CONSENT
TO JURISDICTION; SERVICE OF PROCESS AND VENUE. ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS GUARANTY OR ANY OTHER GUARANTEED
TRANSACTION DOCUMENT MAY BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK IN THE COUNTY OF NEW YORK OR OF THE UNITED STATES DISTRICT
COURT FOR THE SOUTHERN DISTRICT OF NEW YORK, AND, BY EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH PARTY HEREBY IRREVOCABLY ACCEPTS
IN RESPECT OF ITS PROPERTY, GENERALLY AND UNCONDITIONALLY, THE JURISDICTION OF THE AFORESAID COURTS. NOTHING HEREIN SHALL AFFECT
THE RIGHT OF THE PARTIES TO SERVICE OF PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR TO COMMENCE LEGAL PROCEEDINGS OR OTHERWISE
PROCEED AGAINST EACH GUARANTOR IN ANY OTHER JURISDICTION. EACH PARTY HEREBY EXPRESSLY AND IRREVOCABLY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY LAW, ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE JURISDICTION OR LAYING OF VENUE OF ANY SUCH LITIGATION
BROUGHT IN ANY SUCH COURT REFERRED TO ABOVE AND ANY CLAIM THAT ANY SUCH LITIGATION HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. TO
THE EXTENT THAT ANY PARTY HAS OR HEREAFTER MAY ACQUIRE ANY IMMUNITY FROM JURISDICTION OF ANY COURT OR FROM ANY LEGAL PROCESS (WHETHER
THROUGH SERVICE OR NOTICE, ATTACHMENT PRIOR TO JUDGMENT, ATTACHMENT IN AID OF EXECUTION OR OTHERWISE) WITH RESPECT TO ITSELF OR
ITS PROPERTY, EACH PARTY HEREBY IRREVOCABLY WAIVES SUCH IMMUNITY IN RESPECT OF ITS OBLIGATIONS UNDER THIS GUARANTY AND THE OTHER
GUARANTEED TRANSACTION DOCUMENTS.

 

SECTION 10. WAIVER
OF JURY TRIAL, ETC. EACH PARTY HEREBY WAIVES ANY RIGHT TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM CONCERNING
ANY RIGHTS UNDER THIS GUARANTY OR THE OTHER GUARANTEED TRANSACTION DOCUMENTS, OR UNDER ANY AMENDMENT, WAIVER, CONSENT, INSTRUMENT,
DOCUMENT OR OTHER AGREEMENT DELIVERED OR WHICH IN THE FUTURE MAY BE DELIVERED IN CONNECTION HEREWITH OR THEREWITH, OR ARISING FROM
ANY FINANCING RELATIONSHIP EXISTING IN CONNECTION WITH THIS GUARANTY OR THE OTHER GUARANTEED TRANSACTION DOCUMENTS, AND AGREES
THAT ANY SUCH ACTION, PROCEEDING OR COUNTERCLAIM SHALL BE TRIED BEFORE A COURT AND NOT BEFORE A JURY. EACH PARTY CERTIFIES THAT
NO OFFICER, REPRESENTATIVE, AGENT OR ATTORNEY OF ANY SUCH PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT ANY PARTY WOULD NOT,
IN THE EVENT OF ANY ACTION, PROCEEDING OR COUNTERCLAIM, SEEK TO ENFORCE THE FOREGOING WAIVERS. EACH PARTY HEREBY ACKNOWLEDGES THAT
THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE PARTIES ENTERING INTO THE OTHER GUARANTEED TRANSACTION DOCUMENTS (AS DEFINED IN
THE SECURITIES PURCHASE AGREEMENT).

 

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SECTION 11. Taxes.

 

(a)          All payments
made by any Guarantor hereunder or under any other Guaranteed Transaction Document shall be made in accordance with the terms of
the respective Guaranteed Transaction Document and shall be made without set-off, counterclaim, deduction or other defense.

 

SECTION 12. Miscellaneous.

 

(a)          Each Guarantor
will make each payment hereunder in lawful money of the United States of America and in immediately available funds to each Buyer,
at such address specified by such Buyer from time to time by notice to the Guarantors.

 

(b)          No amendment
or waiver of any provision of this Guaranty and no consent to any departure by any Guarantor therefrom shall in any event be effective
unless the same shall be in writing and signed by each Guarantor and each Buyer, and then such waiver or consent shall be effective
only in the specific instance and for the specific purpose for which given.

 

(c)          No failure on
the part of the Collateral Agent or any Buyer to exercise, and no delay in exercising, any right hereunder or under any other Guaranteed
Transaction Document shall operate as a waiver thereof, nor shall any single or partial exercise of any right hereunder or under
any Guaranteed Transaction Document preclude any other or further exercise thereof or the exercise of any other right. The rights
and remedies of the Collateral Agent and the Buyers provided herein and in the other Guaranteed Transaction Documents are cumulative
and are in addition to, and not exclusive of, any rights or remedies provided by law. The rights of the Collateral Agent and the
Buyers under any Guaranteed Transaction Document against any party thereto are not conditional or contingent on any attempt by
the Collateral Agent or any Buyer to exercise any of their respective rights under any other Guaranteed Transaction Document against
such party or against any other Person.

 

(d)          Any provision
of this Guaranty that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the
extent of such prohibition or unenforceability without invalidating the remaining portions hereof or affecting the validity or
enforceability of such provision in any other jurisdiction.

 

(e)          This Guaranty
shall (i) be binding on each Guarantor and its respective successors and assigns, and (ii) inure, together with all rights and
remedies of the Collateral Agent and the Buyers hereunder, to the benefit of the Collateral Agent and the Buyers and their respective
successors, transferees and assigns. Without limiting the generality of clause (ii) of the immediately preceding sentence, the
Collateral Agent and any Buyer may assign or otherwise transfer its rights and obligations under the Securities Purchase Agreement
or any other Guaranteed Transaction Document to any other Person in accordance with the terms thereof, and such other Person shall
thereupon become vested with all of the benefits in respect thereof granted to the Collateral Agent or such Buyer, as the case
may be, herein or otherwise. None of the rights or obligations of any Guarantor hereunder may be assigned or otherwise transferred
without the prior written consent of each Buyer.

 

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(f)           This Guaranty
reflects the entire understanding of the transaction contemplated hereby and shall not be contradicted or qualified by any other
agreement, oral or written, entered into before the date hereof.

 

(g)          Section headings
herein are included for convenience of reference only and shall not constitute a part of this Agreement for any other purpose.

 

(h)          This Guaranty
may be executed by each party hereto on a separate counterpart, each of which when so executed and delivered shall be an original,
but all of which together shall constitute one agreement. Delivery of an executed counterpart by facsimile or other method of electronic
transmission shall be equally effective as delivery of an original executed counterpart.

 

(i)           THIS GUARANTY
SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAW OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED
THEREIN WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES.

 

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LEFT BLANK]

 

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IN WITNESS WHEREOF, each
Guarantor has caused this Guaranty to be executed by its respective duly authorized officer, as of the date first above written.

 

	 	ENERPULSE, INC., a Delaware Corporation
	 	 
	 	By:	 
	 	Name:
	 	Title:

 

	 	Address for Notices:
	 	 
	 	c/o Enerpulse Technologies, Inc.
	 	2451 Alamo Ave. NE,
	 	Albuquerque, New Mexico 87106
	 	Facsimile:	(505) 213-0013
	 	Attention:	 Bryan Templeton,
	 	 	Chief Financial Officer
	 	Facsimile:	(505) 213-0013

 

GuarantyExhibit 10.5

  

Form of Lock-Up Agreement

 

 

February __, 2015

 

ROTH CAPITAL PARTNERS, LLC

888 San Clemente Drive

Newport Beach, CA 92660

 

		Re:	Enerpulse Technologies, Inc.

 

Ladies and Gentlemen:

 

As an inducement to Roth Capital Partners,
LLC, as the placement agent (“Placement Agent”) in connection the transactions contemplated by that certain
Securities Purchase Agreement (the “Purchase Agreement”), dated as of February __, 2014 by and among
Enerpulse Technologies, Inc. (the “Company”) and the investors party thereto (the “Buyers”),
including, without limitation, the issuance of (i) senior secured convertible notes of the Company (the “Notes”)
convertible into shares of the Company's common stock, par value $0.001 per share (the “Common Stock”)
and (ii) warrants (the “Warrants”) exercisable to purchase Common Stock (the foregoing, the “Convertible
Note Financing”), the undersigned hereby agrees that without, in each case, the prior written consent the Placement
Agent and AIGH Investment Partners,  LLC (“AIGH”), during the period specified in the second succeeding
paragraph (the “Lock-Up Period”), the undersigned will not (1) offer, pledge, announce the intention
to sell, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option,
right or warrant to purchase, make any short sale or otherwise transfer or dispose of, directly or indirectly, any shares of Common
Stock or any securities convertible into, exercisable or exchangeable for or that represent the right to receive shares of Common
Stock (including, without limitation, shares of Common Stock which may be deemed to be beneficially owned by the undersigned in
accordance with the rules and regulations of the Securities and Exchange Commission and securities which may be issued upon exercise
of a stock option or warrant) whether now owned or hereafter acquired (the “Undersigned’s Securities”)
or (2) enter into any swap or other agreement that transfers, in whole or in part, any of the economic consequences of ownership
of the Undersigned’s Securities, whether any such transaction described in clause (1) or (2) above is to be settled by delivery
of shares of Common Stock or such other securities, in cash or otherwise. Capitalized terms used herein and not otherwise defined
herein shall have the respective meanings set forth in the Purchase Agreement.

 

The foregoing restriction
is expressly agreed to preclude the undersigned from engaging in any hedging or other transaction which is designed to or which
reasonably could be expected to lead to or result in a sale or disposition of the Undersigned’s Securities even if such Undersigned’s
Securities would be disposed of by someone other than the undersigned. Such prohibited hedging or other transactions would include,
without limitation, any short sale or any purchase, sale or grant of any right (including, without limitation, any put or call
option) with respect to any of the Undersigned’s Securities or with respect to any security that includes, relates to, or
derives any significant part of its value from such Undersigned’s Securities.

 

    	1

    	 

    

 

In addition, the undersigned
agrees that, without the prior written consent of the Placement Agent and AIGH, it will not, during the Lock-Up Period,
make any demand for or exercise any right with respect to, the registration of any shares of Common Stock or any security convertible
into or exercisable or exchangeable for shares of Common Stock.

 

The initial Lock-Up Period will commence on the date of this
Lock-Up Agreement and terminate on the earlier of (a) the date that is 730 days after the date of the close of the Convertible
Note Financing or (b) the date on which (i) the VWAP of the Common Stock has been at least $1.50 per share for five (5) consecutive
Trading Days (the “Measuring Period”) and (ii) the aggregate dollar trading volume of the Common Stock
as reported by Bloomberg for such Measuring Period shall be at least $200,000; provided, however, that
if (1) during the last 17 days of the initial Lock-Up Period, the Company releases earnings results or material news or a material
event relating to the Company occurs or (2) prior to the expiration of the initial Lock-Up Period, the Company announces that it
will release earnings results during the 16-day period beginning on the last day of the initial Lock-Up Period, then in each case
the Lock-Up Period will be extended until the expiration of the 18-day period beginning on the date of release of the earnings
results or the occurrence of the material news or material event, as applicable, unless the Placement Agent and AIGH waives,
in writing, such extension. For purposes of this Lock-Up Agreement, “VWAP” means, for the Common Stock
as of any date, the dollar volume-weighted average price for the Common Stock on the Principal Market during the period beginning
at 9:30:01 a.m., New York time (or such other time as the Principal Market publicly announces is the official open of trading),
and ending at 4:00:00 p.m., New York time (or such other time as the Principal Market publicly announces is the official close
of trading), as reported by Bloomberg through its "Volume at Price" function or, if the foregoing does not apply, the
dollar volume-weighted average price of the Common Stock in the over-the-counter market on the electronic bulletin board for the
Common Stock during the period beginning at 9:30:01 a.m., New York time (or such other time as such market publicly announces is
the official open of trading), and ending at 4:00:00 p.m., New York time (or such other time as such market publicly announces
is the official close of trading), as reported by Bloomberg, or, if no dollar volume-weighted average price is reported for the
Common Stock by Bloomberg for such hours, the average of the highest closing bid price and the lowest closing ask price of any
of the market makers for the Common Stock as reported in the OTC Link or "pink sheets" by OTC Markets Group Inc. (formerly
Pink OTC Markets Inc.). All such determinations shall be appropriately adjusted for any stock dividend, stock split, stock combination,
reclassification or other similar transaction during the applicable calculation period.

 

The foregoing language
shall not apply to:

 

		(i)	transactions relating to shares of Common Stock acquired in open market transactions; (ii) transfers
of shares of Common Stock or any security directly or indirectly convertible into or exercisable or exchangeable for Common Stock
as a bona fide gift or in connection with estate planning, including but not limited to, dispositions to any trust for the direct
or indirect benefit of the undersigned and/or the immediate family of the undersigned and dispositions from any grantor retained
annuity trust established for the direct benefit of the undersigned and/or a member of the immediate family of the undersigned,
or by will or intestacy; or (iii) distributions of shares of Common Stock or any security directly or indirectly convertible into
or exercisable or exchangeable for Common Stock to limited partners, members, stockholders or affiliates of the undersigned, or
to any partnership, corporation or limited liability company controlled by the undersigned or by a member of the immediate family
of the undersigned;

 

    	2

    	 

    

 

provided ̧
however, that (a) in the case of any transfer or distribution pursuant to clause (ii) or (iii), each donee or distributee
shall sign and deliver a lock-up letter agreement substantially in the form of this letter agreement (the “Lock-Up
Agreement”) and (b) in the case of any transaction pursuant to clauses (ii) or (iii), such transaction is not required
to be reported during the Lock-Up Period by anyone in any public report or filing with the Securities and Exchange Commission or
otherwise (other than a required filing on Form 5, Schedule 13D or Schedule 13G (or 13D-A or 13G-A) and no such filing shall be
made voluntarily during the Lock-Up Period.

 

In furtherance of the
foregoing, the Company and its transfer agent and registrar are hereby authorized to decline to make any transfer of shares of
Common Stock if such transfer would constitute a violation or breach of this Lock-Up Agreement.

 

The undersigned understands
that the undersigned shall be released from all obligations under this Lock-Up Agreement if (i) either the Company or the
Placement Agent and AIGH informs the other party or parties, as applicable, that it does not intend to proceed with the Convertible
Note Financing, (ii) the Purchase Agreement (other than the provisions thereof which survive termination) shall terminate
or be terminated prior to payment for and delivery of the Securities to be sold thereunder, or (iii) the Convertible Note
Financing is not completed by February 28, 2014.

 

The undersigned understands
that the Placement Agent is entering into the Underwriting Agreement and proceeding with the Convertible Note Financing in reliance
upon this Lock-Up Agreement.

 

This Lock-Up Agreement
shall be governed by, and construed in accordance with, the laws of the State of New York.

 

[Signature Page Follows]

 

    	3

    	 

    

 

The undersigned hereby
represents and warrants that the undersigned has full power and authority to enter into this Lock-Up Agreement and that, upon request,
the undersigned will execute any additional documents necessary in connection with the enforcement hereof. All authority herein
conferred or agreed to be conferred and any obligations of the undersigned shall be binding upon the successors, assigns, heirs
or personal representatives of the undersigned.

 

	 	Very truly yours,

 

 

	 	
        [LOCK-UP PARTY]

         

          

 

	 	By:	 	 
	 	 	Name:
	 	 	Title:

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