Document:

Exhibit

Exhibit 10.1

AMENDMENT NO. 2
THIS AMENDMENT NO. 2, dated as of April 24, 2020 (this “Amendment”), is entered into by and among FOSSIL GROUP, INC., a Delaware corporation (the “Borrower Representative”), FOSSIL PARTNERS, L.P., a Texas limited partnership (“Fossil Partners”), FOSSIL GROUP EUROPE GMBH, a limited liability company organized under the law of Switzerland (“Fossil Switzerland”), FOSSIL ASIA PACIFIC LIMITED, a private limited liability company organized under the laws of Hong Kong (“Fossil Asia”), FOSSIL (EUROPE) GMBH, a limited liability company organized under the laws of Germany (“Fossil Germany”), FOSSIL (UK) LIMITED, a private limited liability company organized under the laws of England and Wales (the “Fossil UK”), and FOSSIL CANADA INC., a corporation organized under the laws of New Brunswick (“Fossil Canada”), FOSSIL FRANCE SA, a company organized under the laws of France (“Fossil France”), the Lenders party hereto (the “Lenders”), and JPMORGAN CHASE BANK, N.A., as Administrative Agent (in such capacity, the “Administrative Agent”), under that certain Credit Agreement, dated as of September 26, 2019 (as amended by that certain French Joinder and Amendment No. 1, dated as of March 11, 2020 (the “French Joinder and Amendment No. 1”), and as further amended, restated, supplemented or otherwise modified prior to the date hereof, the “Credit Agreement”, and as amended by this Amendment, the “Amended Credit Agreement”), by and among the Borrower Representative, Fossil Partners, the U.S. Subsidiary Borrowers party thereto (together with the Borrower Representative and Fossil Partners, the “U.S. Borrowers”), Fossil Switzerland, Fossil Asia, Fossil Germany, Fossil UK and Fossil Canada (Fossil Canada, together with the U.S. Borrowers, Fossil Switzerland, Fossil Asia, Fossil Germany, Fossil UK, Fossil France, and any other Subsidiary designated as a Borrower pursuant to the terms of thereof, the “Borrowers”), the other Loan Parties party thereto, the Lenders party thereto, the Administrative Agent, the other financial institutions party thereto, and the French Collateral Agent.  All capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Credit Agreement.
WHEREAS, Section 9.02 of the Credit Agreement permits certain amendments of the Credit Agreement with the consent of the Borrowers, the Required Lenders and the Administrative Agent; and
NOW, THEREFORE, in consideration of the premises and covenants contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows:
Section 1.  Amendments. On the Amendment No. 2 Effective Date (as defined below), the Credit Agreement shall be amended as follows:

(a)The defined term “Collection Account” in Section 1.01 of the Credit Agreement shall be replaced in its entirety with the following:

“Collection Account” means a segregated Concentration Account established by any Loan Party solely for the purpose of receiving the proceeds of Accounts (and which, for the avoidance of doubt, shall not be used for general payment purposes) and which, in the case of a Collection Account located in England and Wales or Hong Kong, gives appropriate levels of control sufficient for a fixed charge in England and Wales or Hong Kong (as applicable).

(b)Section 5.01(b) of the Credit Agreement shall be amended to insert “(or, with respect to the Fiscal Quarter ended April 4, 2020, by July 6, 2020; provided that failure to comply with such period for such Fiscal Quarter shall constitute an immediate Event of Default notwithstanding any grace period otherwise applicable thereto)” immediately after “within 45 days after the end of each of the first three Fiscal Quarters of each Fiscal Year of the Company”.

(c)Section 5.01(e) of the Credit Agreement shall be amended to insert “(provided that, with respect to such plan and forecast delivered for the Fiscal Year ending January 2, 2021, the Company will furnish to the Administrative Agent, for distribution to each Lender, such plan and forecast as updated to address the impact of the COVID-19 coronavirus pandemic by no later than April 30, 2020) (in each case, in form and substance reasonably satisfactory to the Administrative Agent)” at the end thereof. 

(d)Section 5.01(k) of the Credit Agreement shall be amended to insert “(which, for the avoidance of doubt, may include standalone financial statements for the Company or any of its Subsidiaries)” immediately after “as the Administrative Agent or any Lender may reasonably request”.

(e)Section 5.18 of the Credit Agreement shall be amended (i) to insert “Except to the extent that the Administrative Agent shall determine any portion of this Section 5.18 shall not be required in its Permitted Discretion:” at the beginning and immediately prior to clause (a) thereof and (ii) to delete “and except to the extent that the Administrative Agent shall determine such Control Agreement or other control arrangements shall not be required in its Permitted Discretion” from clause (a) thereof.

(f)Section 5.18(c) of the Credit Agreement shall be amended to insert “(or, with respect to the Collection Account Trigger Date that occurred on March 25, 2020, within 60 days, or, in each case, as such period may be extended in the Administrative Agent’s sole discretion)” immediately after “Within 30 days after the Collection Account Trigger Date”.

Section 2.  Representations and Warranties; No Default.  By its execution of this Amendment, the Company hereby represents and warrants, and each other Loan Party that is a party hereto severally represents and warrants as to itself, as of the date hereof, that:

(a)The execution, delivery and performance by such Loan Party of this Amendment, and compliance by it with the terms and provisions hereof, are within such Loan Party’s corporate or other organizational powers and have been duly authorized by all necessary corporate or other organizational and, if required, shareholder or other equity holder action. This Amendment has been duly executed and delivered by each Loan Party that is a party hereto and constitutes a legal, valid and binding obligation of such Loan Party, enforceable against it in accordance with its terms, subject to applicable Insolvency Laws or other laws affecting creditors’ rights generally and to general principles of equity, regardless of whether considered in a proceeding in equity or at law.

(b)The execution, delivery and performance by such Loan Party of this Amendment, and compliance by it with the terms and provisions hereof, (a) do not require any consent or approval of, registration or filing with (other than filings required to be made with SEC), or any other action by, any Governmental Authority, except such as have been obtained or made and are (or will so be) in full force and effect and except for filings necessary to perfect Liens created under the Loan Documents, (b) will not violate any applicable law, including any order of any Governmental Authority, (c) will not violate the charter, by-laws or other organizational documents of the Company or any Restricted Subsidiary, (d) will not violate or result in a default under any indenture or agreement (including the Term Credit Agreement or other material instrument binding upon the Company or any Restricted Subsidiary or any of their assets), or give rise to a 

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right thereunder to require any payment to be made by the Company or any Restricted Subsidiary, and (e) will not result in the creation or imposition of any Lien on any asset of the Company or any Restricted Subsidiary, except Liens created pursuant to the Loan Documents or Liens created in connection with the Term Credit Agreement; in the case of each of the clauses above, except for an approval, violation or creation, as applicable, which would not reasonably be expected to result in a Material Adverse Effect.

(c)At the time of and immediately after giving effect to this Amendment, no Default or Event of Default shall have occurred and be continuing.

(d)All representations and warranties contained in the Amended Credit Agreement are true and correct in all material respects (without duplication of any materiality standard set forth in any such representation or warranty) on and as of the Amendment No. 2 Effective Date, as though made on and as of the Amendment No. 2 Effective Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they were true and correct in all material respects as of such earlier date (without duplication of any materiality standard set forth in any such representation or warranty).

Section 3.  Effectiveness of Amendment. Section 1 of this Amendment shall become effective on the date (the “Amendment No. 2 Effective Date”) that the following conditions have been satisfied or waived:

(a)The Administrative Agent shall have received executed signature pages hereto from the Borrowers, the Administrative Agent, and the Lenders collectively constituting the Required Lenders (by electronic transmission or otherwise).

(b)The Administrative Agent shall have received a certificate of a Responsible Officer of the Company dated the Amendment No. 2 Effective Date certifying as to the accuracy of the representations and warranties set forth in Section 2 hereof.

(c)The Company shall have paid to the Administrative Agent all costs, fees and expenses of the Administrative Agent (including, without limitation, legal fees and expenses) to the extent invoiced at least two Business Days prior to the date of this Amendment (it being understood and agreed that if any such invoice is not received at least two Business Days prior to the date of this Amendment, such costs and expenses shall be reimbursed after the Amendment No. 2 Effective Date in accordance with Section 9.03 of the Credit Agreement).

Section 4.  Counterparts; Entire Agreement; Amendment, Modification and Waiver.  

(a)This Amendment may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page of this Amendment by electronic transmission shall be effective as delivery of a manually executed counterpart of this Amendment.       
(b)This Amendment may not be amended, modified or waived except in accordance with Section 9.02 of the Amended Credit Agreement.

Section 5.  Applicable Law; Waiver of Jury Trial, Etc. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, 

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BUT GIVING EFFECT TO FEDERAL LAWS APPLICABLE TO NATIONAL BANKS. THE PROVISIONS OF SECTIONS 9.09(b) THROUGH (e) AND 9.10 OF THE CREDIT AGREEMENT SHALL APPLY TO THIS AMENDMENT MUTATIS MUTANDIS.

Section 6.  Headings.  The headings of this Amendment are for purposes of reference only and shall not limit or otherwise affect the meaning hereof.

Section 7.  Acknowledgements and Confirmations; Liens Unimpaired.

(a)  Each Loan Party that is a party hereto hereby expressly acknowledges the terms of this Amendment (and, for the avoidance of doubt, ratifies the terms of the French Joinder and Amendment No. 1) and reaffirms, as of the date hereof, subject to the amendments set forth in this Amendment, (i) the covenants and agreements contained in each Loan Document to which it is a party (and each joinder to which it is a party to any Loan Documents), including, in each case, such covenants and agreements as in effect immediately after giving effect to this Amendment and the transactions contemplated hereby, (ii) subject to any limitations set forth in the Credit Agreement, its Guarantee of the Secured Obligations, and (iii) its prior grant of Liens on the Collateral to secure the Secured Obligations owed or otherwise guaranteed by it pursuant to the Collateral Documents with all such Liens continuing in full force and effect after giving effect to this Amendment. 

(b)Notwithstanding the above, each of the Loan Parties (other than the French Loan Parties) party hereto consents to the amendments of the Credit Agreement effected by this Amendment and confirms that, subject to the amendments set forth in this Amendment, (i) its obligations as a Guarantor under the Credit Agreement are not discharged or otherwise affected by those amendments or the other provisions of this Amendment (and for the avoidance of doubt the French Joinder and Amendment No. 1) and shall accordingly, subject to any limitations set forth in the Credit Agreement, continue in full force and effect, (ii) its obligations under, and the Liens granted by it in and pursuant to, the Collateral Documents to which it is a party are not discharged or otherwise affected by those amendments or the other provisions of this Amendment (and for the avoidance of doubt the French Joinder and Amendment No. 1) and shall accordingly remain in full force and effect, (iii) the Secured Obligations so guaranteed and secured shall, after the Amendment No. 2 Effective Date and subject to any limitations set forth in the Credit Agreement, extend to the Secured Obligations under the Loan Documents (including under the Credit Agreement as amended pursuant to this Amendment).

(c)Each French Loan Party hereby confirms to the other Parties that, upon and following the execution and performance by it of this Amendment, (i) all of its payment and performance obligations, contingent or otherwise, under each of the Loan Documents (including, for the avoidance of doubt, the French Joinder and Amendment No. 1) to which it is a party shall remain in full force and effect, (ii) the security created or purported to be created by it under each Collateral Document to which it is party shall remain in full force and effect and shall continue to secure the “Secured Obligations” as such term is defined in each of the French Security Documents and (iii) the term “Credit Agreement” as used in each Collateral Document to which it is party shall be a reference to the Amended Credit Agreement and as further amended, restated, supplemental and modified from time to time, and notably by this Amendment.

(d)After giving effect to this Amendment, neither the modification of the Credit Agreement effected pursuant to this Amendment nor the execution, delivery, performance or effectiveness of this Amendment:

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(i) impairs the validity, effectiveness or priority of the Liens granted pursuant to any Loan Document, and such Liens continue unimpaired with the same priority applicable to such Liens immediately prior to giving effect to this Amendment to secure repayment of all Secured Obligations, whether heretofore or hereafter incurred; or

(ii) requires that any new filings required to be made under any Loan Document be made or other action required to be taken under any Loan Document be taken to perfect or to maintain the perfection of such Liens, except for such filings and other actions as have otherwise been made or taken on or prior to the Amendment No. 2 Effective Date and which remain in full force and effect on the Amendment No. 2 Effective Date.

Section 8.  Effect of Agreement.  Except as expressly set forth herein, this Amendment (a) shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights and remedies of any party under the Credit Agreement or any other Loan Document, and (b) shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other provision of either such agreement or any other Loan Document or be construed as a novation thereof, or serve to effect a novation of the obligations outstanding under the Credit Agreement or instruments guaranteeing or securing the same, which shall remain and continue in full force and effect.  Each and every term, condition, obligation, covenant and agreement contained in the Credit Agreement as amended hereby, or any other Loan Document as amended hereby, is hereby ratified and re-affirmed in all respects and shall continue in full force and effect.  This Amendment shall constitute a Loan Document for purposes of the Credit Agreement and, from and after the Amendment No. 2 Effective Date, all references to the Credit Agreement in any Loan Document and all references in the Credit Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import referring to the Credit Agreement, shall, unless expressly provided otherwise, refer to the Credit Agreement as amended and supplemented by this Amendment. 

[Remainder of Page Left Intentionally Blank]

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IN WITNESS WHEREOF, the parties hereto have duly executed this Amendment as of the day and year first above written.
FOSSIL GROUP, INC.,
as a U.S. Borrower
By:    /s/ Randy S. Hyne    
Name:    Randy S. Hyne
Title:    Vice President, General Counsel 
and Secretary
FOSSIL PARTNERS, L.P.,
as a U.S. Borrower
By:    Fossil Group, Inc., its General Partner
By:    /s/ Randy S. Hyne    
Name:    Randy S. Hyne
Title:    Vice President, General Counsel 
and Secretary

Signature Page to Amendment No. 2

FOSSIL CANADA INC.,
as a Canadian Borrower
By:    /s/ Randy S. Hyne    
Name:    Randy S. Hyne
Title:    Secretary

Signature Page to Amendment No. 2

FOSSIL (EUROPE) GMBH,
as a German Borrower
By:    /s/ Wolfgang Thoeren    
Name:    Wolfgang Thoeren
Title:    Managing Director
By:    /s/ Klaus Benz    
Name:    Klaus Benz
Title:    Managing Director

Signature Page to Amendment No. 2

FOSSIL ASIA PACIFIC LIMITED,
as a Hong Kong Borrower
By:    /s/ John O’Brien    
Name:    John O’Brien
Title:    Director
By:    /s/ Randy Belcher    
Name:    Randy Belcher
Title:    Director

Signature Page to Amendment No. 2

FOSSIL GROUP EUROPE GMBH,
as a Swiss Borrower
By:    /s/ Martin Frey        
Name:    Martin Frey
Title:    Managing Director
By:    /s/ Wolfgang Thoeren    
Name:    Wolfgang Thoeren
Title:    Managing Director

Signature Page to Amendment No. 2

FOSSIL (UK) LIMITED,
as the UK Borrower
By:    /s/ Richard Collins    
Name:    Richard Collins
Title:    Director
By:    /s/ Antonio Nigro    
Name:    Antonio Nigro
Title:    Director

Signature Page to Amendment No. 2

FOSSIL FRANCE S.A.,
as a French Borrower,

By:    /s/ Christophe Bizot    
Name:    Christophe Bizot
Title:    Président du Directoire

Signature Page to Amendment No. 2

JPMORGAN CHASE BANK, N.A.,
as Administrative Agent and a Lender
By:  /s/ Ajay Gupta                    
Name: Ajay Gupta
Title: Vice President

Signature Page to Amendment No. 2

J.P. MORGAN AG, as a Lender
By:  /s/ Kennedy A. Capin                
Name: Kennedy A. Capin
Title: Authorized Officer

Signature Page to Amendment No. 2

WELLS FARGO BANK INTERNATIONAL UNLIMITED COMPANY,
as a Lender
By:  /s/ Roderick Neil                    
Name: Roderick Neil
Title: Authorized Signatory

Signature Page to Amendment No. 2

WELLS FARGO BANK, NATIONAL ASSOCIATION,
as a Lender 
By:  /s/ Nykole Hanna                    
Name: Nykole Hanna
Title: Authorized Signatory

Signature Page to Amendment No. 2

WELLS FARGO CAPITAL FINANCE CORPORATION CANADA,
as a Lender
By:  /s/ David G. Phillips                
Name: David G. Phillips
Title: Senior Vice President Credit Officer, Canada

Signature Page to Amendment No. 2

WELLS FARGO BANK NATIONAL ASSOCIATION, LONDON BRANCH,
as a Lender
By:  /s/ Patricia Del Busto                
Name: Patricia Del Busto
Title: Authorized Signatory

Signature Page to Amendment No. 2

BANK OF AMERICA MERRILL LYNCH INTERNATIONAL, DESIGNATED ACTIVITY COMPANY,
as a Lender
By:  /s/ Lee Masters                    
Name: Lee Masters
Title: Senior Vice President

BANK OF AMERICA, N.A.,
as a Lender
By:  /s/ Christine Hutchinson                
Name: Christine Hutchinson
Title: Senior Vice President

BANK OF AMERICA, N.A., ACTING THROUGH ITS CANADA BRANCH,
as a Lender
By:  /s/ Sylwia Durkiewicz                
Name: Sylvia Durkiewicz
Title: Vice President
                        

Signature Page to Amendment No. 2

CITIZENS BANK, N.A.,
as a Lender
By:  /s/ Richard Norberg                
Name: Richard Norberg
Title: Vice President

Signature Page to Amendment No. 2

HSBC BANK USA, NATIONAL ASSOCIATION,
as a Lender
By:  /s/ Jaime Mariano                
Name: Jaime Mariano
Title: Senior Vice President #21440

Signature Page to Amendment No. 2Exhibit 10.1

 

EQUITY
PURCHASE AGREEMENT

 

THIS
EQUITY PURCHASE AGREEMENT (this “Agreement”) is entered into as of April 5, 2020 (the “Execution
Date”), by and between Sharing Economy International Inc., a Delaware corporation (the “Company”),
and Oasis Capital, LLC, a Puerto Rico limited liability company (the “Investor”).

 

RECITALS

 

WHEREAS,
the parties desire that, upon the terms and subject to the conditions contained herein, the Company shall issue and sell to the
Investor, from time to time as provided herein, and the Investor shall purchase from the Company up to Four Million Dollars ($4,000,000.00)
of the Company’s Common Stock (as defined below);

 

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

 

ARTICLE
I

CERTAIN
DEFINITIONS

 

Section
1.1 RECITALS. The parties acknowledge and agree that the recitals set forth above are true and correct and are hereby incorporated
in and made a part of this Agreement.

 

Section
1.2 DEFINED TERMS. As used in this Agreement, the following terms shall have the following meanings specified or indicated
(such meanings to be equally applicable to both the singular and plural forms of the terms defined):

 

“Agreement”
shall have the meaning specified in the preamble hereof.

 

“Available
Amount” means, initially, the Maximum Commitment Amount, which amount shall be reduced by the Investment Amount following
each successful Closing, each time the Investor purchases shares of Common Stock pursuant to a Put.

 

“Average
Daily Trading Volume” shall mean the average trading volume of the Company’s Common Stock in the five (5) Trading
Days immediately preceding the respective Put Date.

 

“Bankruptcy
Law” means Title 11, U.S. Code, or any similar federal or state law for the relief of debtors.

 

“Claim
Notice” shall have the meaning specified in Section 9.3(a).

 

“Clearing
Costs” shall mean all of the Investor’s broker and Transfer Agent fees.

 

“Clearing
Date” shall be the date on which the Investor receives the Put Shares as DWAC Shares in its brokerage account.

 

“Closing”
shall mean one of the closings of a purchase and sale of shares of Common Stock pursuant to Section 2.3.

 

“Closing
Certificate” shall mean the closing “Officer’s Certificate” of the Company in the form of Exhibit
B hereto.

 

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“Closing
Date” shall mean the date of any Closing hereunder.

 

“Commitment
Period” shall mean the period commencing on the Execution Date, and ending on the earlier of (i) the date on which the
Investor shall have purchased Put Shares pursuant to this Agreement equal to the Maximum Commitment Amount, (ii) April 4, 2023,
or (iii) written notice of termination by the Company to the Investor (which shall not occur at any time that the Investor holds
any of the Put Shares).

 

“Commitment
Shares” means 400,000 shares of Common Stock issued by the Company to the Investor pursuant to Section 6.5.

 

“Common
Stock” shall mean the Company’s common stock, $0.0001 par value per share, and any shares of any other class of
common stock whether now or hereafter authorized, having the right to participate in the distribution of dividends (as and when
declared) and assets (upon liquidation of the Company).

 

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

 

“Company”
shall have the meaning specified in the preamble to this Agreement.

 

“Confidential
Information” means any information disclosed by either party to this Agreement, or their affiliates, agents or representatives,
to the other party to this Agreement, either directly or indirectly, in writing, orally or by inspection of tangible objects (including,
without limitation, documents, formulae, business information, trade secrets, technology, strategies. prototypes, samples, plant
and equipment), which may or may not be designated as “Confidential,” “Proprietary” or some similar designation.
Information communicated orally shall be considered Confidential Information if such information is confirmed in writing as being
Confidential Information within ten (10) Trading Days after the initial disclosure. Confidential Information may also include
information disclosed by third parties. Confidential Information shall not, however, include any information which (i) was publicly
known and made generally available in the public domain prior to the time of disclosure by the disclosing party; (ii) becomes
publicly known and made generally available after disclosure by the disclosing party to the receiving party through no fault,
action or inaction of the receiving party; (iii) is already in the possession of the receiving party at the time of disclosure
by the disclosing party as shown by the receiving party’s files and records immediately prior to the time of disclosure;
(iv) is obtained by the receiving party from a third party without a breach of such third party’s obligations of confidentiality;
(v) is independently developed by the receiving party without use of or reference to the disclosing party’s Confidential
Information, as shown by documents and other competent evidence in the receiving party’s possession; or (vi) is required
by law to be disclosed by the receiving party, provided that the receiving party gives the disclosing party prompt written notice
of such requirement prior to such disclosure and assistance in obtaining an order protecting the information from public disclosure.

 

“Current
Report” shall have the meaning set forth in Section 6.4.

 

“Custodian”
means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law.

 

“Damages”
shall mean any loss, claim, damage, liability, cost and expense (including, without limitation, reasonable attorneys’ fees
and disbursements and costs and expenses of expert witnesses and investigation).

 

    - 2 -

     

    

 

“Dispute
Period” shall have the meaning specified in Section 9.3(a).

 

“Disqualification
Event” shall have the meaning specified in Section 4.27.

 

“DTC”
shall mean The Depository Trust Company, or any successor performing substantially the same function for the Company.

 

“DTC/FAST
Program” shall mean the DTC’s Fast Automated Securities Transfer Program.

 

“DWAC”
shall mean Deposit Withdrawal at Custodian as defined by the DTC.

 

“DWAC
Eligible” shall mean that (a) the Common Stock is eligible at DTC for full services pursuant to DTC’s
operational arrangements, including, without limitation, transfer through DTC’s DWAC system, (b) the Company has been
approved (without revocation) by the DTC’s underwriting department, (c) the Transfer Agent is approved as an agent in
the DTC/FAST Program, (d) the Commitment Shares or Put Shares, as applicable, are otherwise eligible for delivery via DWAC,
and (e) the Transfer Agent does not have a policy prohibiting or limiting delivery of the Put Shares or Commitment Shares, as
applicable, via DWAC.

 

“DWAC
Shares” means shares of Common Stock that are (i) issued in electronic form, (ii) freely tradable and transferable and
without restriction on resale and (iii) timely credited by the Company to the Investor’s or its designee’s specified
DWAC account with DTC under the DTC/FAST Program, or any similar program hereafter adopted by DTC performing substantially the
same function.

 

“Environmental
Laws” shall have the meaning set forth in Section 4.14.

 

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

 

“Execution
Date” shall have the meaning set forth in the preamble to this Agreement.

 

“FINRA”
shall mean the Financial Industry Regulatory Authority, Inc.

 

“Indemnified
Party” shall have the meaning specified in Section 9.2.

 

“Indemnifying
Party” shall have the meaning specified in Section 9.2.

 

“Indemnity
Notice” shall have the meaning specified in Section 9.3(b).

 

“Intellectual
Property” shall mean all trademarks, trademark applications, trade names, service marks, service mark registrations,
service names, patents, patent applications, patent rights, copyrights, inventions, licenses, approvals, government authorizations,
trade secrets or other intellectual property rights.

 

“Investment
Amount” shall mean the dollar value equal to the amount of Put Shares referenced in the Put Notice multiplied by the
Purchase Price minus the Clearing Costs.

 

“Investor”
shall have the meaning specified in the preamble to this Agreement.

 

“Issuer
Covered Person” shall have the meaning specified in Section 4.27.

 

    - 3 -

     

    

 

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

 

“Market
Price” shall mean the one (1) lowest traded price of the Common Stock on the Principal Market for any Trading Day during
the Valuation Period, as reported by Bloomberg Finance L.P. or other reputable source.

 

“Material
Adverse Effect” shall mean any effect on the business, operations, properties, or financial condition of the Company
and/or the Subsidiaries that is material and adverse to the Company and/or the Subsidiaries and/or any condition, circumstance,
or situation that would prohibit or otherwise materially interfere with the ability of the Company and/or the Subsidiaries to
enter into and/or perform its obligations under any Transaction Document.

 

“Maximum
Commitment Amount” shall mean Four Million Dollars ($4,000,000.00).

 

“Maximum
Put Amount” shall mean that the lesser of (i) such amount that equals two hundred percent (200%) of the Average Daily
Trading Volume, and (ii) Two Hundred and Fifty Thousand Dollars ($250,000.00).

 

“Minimum
Put Amount” shall mean Fifteen Thousand Dollars ($15,000).

 

“Person”
shall mean an individual, a corporation, a partnership, an association, a trust or other entity or organization, including a government
or political subdivision or an agency or instrumentality thereof.

 

“Principal
Market” shall mean any of the national exchanges (i.e. NYSE, NYSE AMEX, NASDAQ), or principal quotation systems (i.e.
OTCQX, OTCQB, OTC Pink, the OTC Bulletin Board), or other principal exchange or recognized quotation system which is at the time
the principal trading platform or market for the Common Stock.

 

“Purchase
Price” shall mean 85% of the Market Price on such date on which the Purchase Price is calculated in accordance with
the terms and conditions of this Agreement. If the Market Price is less than $.01, the Purchase Price shall mean 80%
of the Market Price on such date on which the Purchase Price is calculated in accordance with the terms and conditions of
this Agreement.

 

“Put”
shall mean the right of the Company to require the Investor to purchase shares of Common Stock, subject to the terms and conditions
of this Agreement.

 

“Put
Date” shall mean any Trading Day during the Commitment Period that a Put Notice is deemed delivered pursuant to Section
2.2(b).

 

“Put
Notice” shall mean a written notice, substantially in the form of Exhibit A hereto, addressed to the Investor
and setting forth the amount of Put Shares which the Company intends to require the Investor to purchase pursuant to the terms
of this Agreement.

 

“Put
Shares” shall mean all shares of Common Stock issued, or that the Company shall be entitled to issue, per any applicable
Put Notice in accordance with the terms and conditions of this Agreement.

 

“Registration
Rights Agreement” means that agreement in the form attached hereto as Exhibit D.

 

“Registration
Statement” shall have the meaning specified in Section 6.4.

 

“Regulation
D” shall mean Regulation D promulgated under the Securities Act.

 

“Required
Minimum” shall mean, as of any date, the maximum aggregate number of shares of Common Stock then issued or potentially
issuable in the future pursuant to the Transaction Documents.

 

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“Rule
144” shall mean Rule 144 promulgated under the Securities Act or any similar provision then in force under the Securities
Act.

 

“SEC”
shall mean the United States Securities and Exchange Commission.

 

“SEC
Documents” shall have the meaning specified in Section 4.5.

 

“Securities”
means, collectively, the Put Shares and the Commitment Shares.

 

“Securities
Act” shall mean the Securities Act of 1933, as amended.

 

“Short
Sales” shall mean all “short sales” as defined in Rule 200 of Regulation SHO under the Exchange Act.

 

“Subsidiary”
or “Subsidiaries” means any Person the Company wholly-owns or controls, or in which the Company, directly or
indirectly, owns a majority of the voting stock or similar voting interest, in each case that would be disclosable pursuant to
Item 601(b)(21) of Regulation S-K promulgated under the Securities Act.

 

“Third
Party Claim” shall have the meaning specified in Section 9.3(a).

 

“Trading
Day” shall mean a day on which the Principal Market shall be open for business.

 

“Transaction
Documents” shall mean this Agreement, the Registration Rights Agreement and all schedules and exhibits hereto and thereto.

 

“Transfer
Agent” shall mean Action Stock Transfer Corp., the current transfer agent of the Company, and any successor transfer
agent of the Company.

 

“Valuation
Period” shall mean the period of five (5) consecutive Trading Days immediately following the Clearing Date associated
with the applicable Put Notice during which the Purchase Price of the Common Stock is valued, provided, however, that the Valuation
Period shall instead begin on the Clearing Date if the respective Put Shares are received as DWAC Shares in Investor’s brokerage
account prior to 11:00 a.m. EST on the respective Clearing Date.

 

ARTICLE
II

PURCHASE
AND SALE OF COMMON STOCK

 

Section
2.1 PUTS. Upon the terms and conditions set forth herein (including, without limitation, the provisions of Article
VII), the Company shall have the right, but not the obligation, to direct the Investor, by its delivery to the Investor
of a Put Notice from time to time during the Commitment Period, to purchase Put Shares, provided that notwithstanding any
other terms of this Agreement, in each instance, (i) the Investment Amount is not more than the Maximum Put Amount, (ii) Put
size of no less than the Minimum Put Amount and (iii) the aggregate Investment Amount of all Puts shall not exceed the
Maximum Commitment Amount.

 

Section
2.2 MECHANICS.

 

(a)
PUT NOTICE. At any time and from time to time during the Commitment Period, except as provided in this Agreement, the Company
may deliver a Put Notice to Investor, subject to satisfaction of the conditions set forth in Section 7.2 and otherwise
provided herein. The Company shall deliver, or cause to be delivered, the Put Shares as DWAC Shares to the Investor within one
(1) Trading Day following the Put Date.

 

    - 5 -

     

    

 

(b)
DATE OF DELIVERY OF PUT NOTICE. A Put Notice shall be deemed delivered on (i) the Trading Day it is received by e-mail
by the Investor if such notice is received on or prior to 8:30 a.m. EST or (ii) the immediately succeeding Trading Day if it is
received by e-mail after 8:30 a.m. EST on a Trading Day or at any time on a day which is not a Trading Day. The Company shall
not deliver another Put Notice to the Investor within ten (5) Trading Days of a prior Put Notice, or (iii) the Trading Day the
Investor receives trading approval from a broker-dealer.

 

Section
2.3 CLOSINGS.

 

(a)
TIMING. The Closing of a Put shall occur within one (1) Trading Day following the end of the respective Valuation Period,
whereby the Investor shall deliver the Investment Amount by wire transfer of immediately available funds to an account designated
by the Company. In addition, on or prior to such Closing, each of the Company and the Investor shall deliver to each other all
documents, instruments and writings required to be delivered or reasonably requested by either of them pursuant to this Agreement
in order to implement and effect the transactions contemplated herein.

 

(b)
RETURN OF SURPLUS. If the value of the Put Shares delivered to the Investor causes the Company to exceed the Maximum Commitment
Amount, then the Investor shall return to the Company the surplus amount of Put Shares associated with such Put and the Purchase
Price with respect to such Put shall be reduced by any Clearing Costs related to the return of such Put Shares.

 

(c)
RESALES DURING VALUATION PERIOD. The parties acknowledge and agree that during the Valuation Period, the Investor may contract
for, or otherwise effect, the resale of the subject purchased Put Shares to third-parties.

 

ARTICLE
III

REPRESENTATIONS
AND WARRANTIES OF INVESTOR

 

The
Investor represents and warrants to the Company that:

 

Section
3.1 INTENT. The Investor is entering into this Agreement for its own account, and the Investor has no present arrangement
(whether or not legally binding) at any time to sell the Securities to or through any Person in violation of the Securities Act
or any applicable state securities laws; provided, however, that the Investor reserves the right to dispose of the
Securities at any time in accordance with federal and state securities laws applicable to such disposition.

 

Section
3.2 NO LEGAL ADVICE FROM THE COMPANY. The Investor acknowledges that it has had the opportunity to review this Agreement
and the transactions contemplated by this Agreement with its own legal counsel and investment and tax advisors. Except with respect
to the representations, warranties and covenants contained in this Agreement, the Investor is relying solely on such counsel and
advisors and not on any statements or representations of the Company or any of its representatives or agents for legal, tax or
investment advice with respect to this investment, the transactions contemplated by this Agreement or the securities laws of any
jurisdiction.

 

Section
3.3 ACCREDITED INVESTOR. The Investor is an accredited investor as defined in Rule 501(a)(3) of Regulation D, and the Investor
has such experience in business and financial matters that it is capable of evaluating the merits and risks of an investment in
the Securities. The Investor acknowledges that an investment in the Securities is speculative and involves a high degree of risk.

 

    - 6 -

     

    

 

Section
3.4 AUTHORITY. The Investor has the requisite power and authority to enter into and perform its obligations under this
Agreement and the other Transaction Documents and to consummate the transactions contemplated hereby and thereby. The execution
and delivery of this Agreement and the other Transaction Documents and the consummation by it of the transactions contemplated
hereby and thereby have been duly authorized by all necessary action and no further consent or authorization of the Investor is
required. Each Transaction Document to which it is a party has been duly executed by the Investor, and when delivered by the Investor
in accordance with the terms hereof, will constitute the valid and binding obligation of the Investor enforceable against it in
accordance with its terms, subject to applicable bankruptcy, insolvency, or similar laws relating to, or affecting generally the
enforcement of, creditors’ rights and remedies or by other equitable principles of general application.

 

Section
3.5 NOT AN AFFILIATE. To the Investor’s knowledge, the Investor is not an officer, director or “affiliate”
(as such term is defined in Rule 405 of the Securities Act) of the Company.

 

Section
3.6 ORGANIZATION AND STANDING. The Investor is an entity duly formed, validly existing and in good standing under the laws
of the jurisdiction of its formation with full right, limited liability company power and authority to enter into and to consummate
the transactions contemplated by this Agreement and the other Transaction Documents.

 

Section
3.7 ABSENCE OF CONFLICTS. The execution and delivery of this Agreement and the other Transaction Documents, and the
consummation of the transactions contemplated hereby and thereby and compliance with the requirements hereof and thereof,
will not (a) violate any law, rule, regulation, order, writ, judgment, injunction, decree or award binding on the Investor,
(b) violate any provision of any indenture, instrument or agreement to which the Investor is a party or is subject, or by
which the Investor or any of its assets is bound, or conflict with or constitute a material default thereunder, (c) result in
the creation or imposition of any lien pursuant to the terms of any such indenture, instrument or agreement, or constitute a
breach of any fiduciary duty owed by the Investor to any third party, or (d) require the approval of any third-party (that
has not been obtained) pursuant to any material contract, instrument, agreement, relationship or legal obligation to which
the Investor is subject or to which any of its assets, operations or management may be subject.

 

Section
3.8 DISCLOSURE; ACCESS TO INFORMATION. The Investor had an opportunity to review copies of the SEC Documents filed on behalf
of the Company and has had access to all publicly available information with respect to the Company; provided, however, that the
Investor makes no representation or warranty hereunder with respect to any SEC Document and is relying on the representations
and warranties of the Company in Article IV with respect to the SEC Documents.

 

Section
3.9 MANNER OF SALE. At no time was the Investor presented with or solicited by or through any leaflet, public promotional
meeting, television advertisement or any other form of general solicitation or advertisement regarding the Securities.

 

    - 7 -

     

    

 

ARTICLE
IV

REPRESENTATIONS
AND WARRANTIES OF THE COMPANY

 

The
Company represents and warrants to the Investor that, except as set forth in the disclosure schedules hereto that as of the Execution
Date and at each Closing Date:

 

Section
4.1 ORGANIZATION OF THE COMPANY. The Company is a corporation duly incorporated, validly existing and in good standing
under the laws of the state of Delaware, with the requisite power and authority to own and use its properties and assets and to
carry on its business as currently conducted. Each of the Subsidiaries is an entity duly incorporated or otherwise organized,
validly existing and in good standing under the laws of the jurisdiction of its incorporation or organization, with the requisite
power and authority to own and use its properties and assets and to carry on its business as currently conducted. Each of the
Company and the Subsidiaries is not in violation or default of any of the provisions of its respective certificate or articles
of incorporation, bylaws or other organizational or charter documents. Each of the Company and the Subsidiaries is duly qualified
to conduct business and is in good standing as a foreign corporation or other entity in each jurisdiction in which the nature
of the business conducted or property owned by it makes such qualification necessary, except where the failure to be so qualified
or in good standing, as the case may be, could not have or reasonably be expected to result in a Material Adverse Effect and no
proceeding has been instituted in any such jurisdiction revoking, limiting or curtailing or seeking to revoke, limit or curtail
such power and authority or qualification.

 

Section
4.2 AUTHORITY. The Company has the requisite corporate power and authority to enter into and perform its obligations under
this Agreement and the other Transaction Documents. The execution and delivery of this Agreement and the other Transaction Documents
by the Company and the consummation by it of the transactions contemplated hereby and thereby have been duly authorized by all
necessary corporate action and no further consent or authorization of the Company or its Board of Directors or stockholders is
required. Each of this Agreement and the other Transaction Documents has been duly executed and delivered by the Company and constitutes
a valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except as such enforceability
may be limited by applicable bankruptcy, insolvency, or similar laws relating to, or affecting generally the enforcement of, creditors’
rights and remedies or by other equitable principles of general application.

 

Section
4.3 CAPITALIZATION. As of the Execution Date, the authorized capital stock of the Company consists of (a) 7,400,000,000
shares of Common Stock, par value of $0.001 per share, of which approximately 199,418,592 shares of Common Stock are issued and
outstanding and (b) 50,000,000 shares of preferred stock, of which 0 shares of preferred stock are issued and outstanding. Except
as set forth on Schedule 4.3, the Company has not issued any capital stock since its most recently filed periodic report
under the Exchange Act, other than pursuant to the exercise of employee stock options under the Company’s stock option plans,
the issuance of shares of Common Stock to employees pursuant to the Company’s employee stock purchase plans and pursuant
to the conversion and/or exercise of Common Stock Equivalents outstanding as of the date of the most recently filed periodic report
under the Exchange Act. No Person has any right of first refusal, preemptive right, right of participation, or any similar right
to participate in the transactions contemplated by the Transaction Documents. Except as set forth on Schedule 4.3, and
except as a result of the purchase and sale of the Securities, there are no outstanding options, warrants, scrip rights to subscribe
to, calls or commitments of any character whatsoever relating to, or securities, rights or obligations convertible into or exercisable
or exchangeable for, or giving any Person any right to subscribe for or acquire any shares of Common Stock, or contracts, commitments,
understandings or arrangements by which the Company or any Subsidiary is or may become bound to issue additional shares of Common
Stock or Common Stock Equivalents. The issuance and sale of the Securities will not obligate the Company to issue shares of Common
Stock or other securities to any Person (other than the Investor) and will not result in a right of any holder of Company securities
to adjust the exercise, conversion, exchange or reset price under any of such securities. There are no stockholders agreements,
voting agreements or other similar agreements with respect to the Company’s capital stock to which the Company is a party
or, to the knowledge of the Company, between or among any of the Company’s stockholders.

 

    - 8 -

     

    

 

Section
4.4 LISTING AND MAINTENANCE REQUIREMENTS. The Common Stock is registered pursuant to Section 12(b) or 12(g) of the Exchange
Act, and the Company has taken no action designed to, or which to its knowledge is likely to have the effect of, terminating the
registration of the Common Stock under the Exchange Act, nor has the Company received any notification that the SEC is contemplating
terminating such registration. The Company has not, in the twelve (12) months preceding the Execution Date, received notice from
the Principal Market on which the Common Stock is or has been listed or quoted to the effect that the Company is not in compliance
with the listing or maintenance requirements of such Principal Market. The Company is, and has no reason to believe that it will
not in the foreseeable future continue to be, in compliance with all such listing and maintenance requirements.

 

Section
4.5 SEC DOCUMENTS; DISCLOSURE. Except as set forth on Schedule 4.5, the Company has filed all reports, schedules,
forms, statements and other documents required to be filed by the Company under the Securities Act and the Exchange Act, including
pursuant to Section 13(a) or 15(d) thereof, for the one (1) year preceding the Execution Date (or such shorter period as the Company
was required by law or regulation to file such material) (the foregoing materials, including the exhibits thereto and documents
incorporated by reference therein, being collectively referred to herein as the “SEC Documents”) on a timely
basis or has received a valid extension of such time of filing and has filed any such SEC Documents prior to the expiration of
any such extension. As of their respective dates, the SEC Documents complied in all material respects with the requirements of
the Securities Act and the Exchange Act, as applicable, and other federal laws, rules and regulations applicable to such SEC Documents,
and none of the SEC Documents when filed contained any untrue statement of a material fact or omitted to state a material fact
required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which
they were made, not misleading. The financial statements of the Company included in the SEC Documents comply as to form and substance
in all material respects with applicable accounting requirements and the published rules and regulations of the SEC or other applicable
rules and regulations with respect thereto. Such financial statements have been prepared in accordance with generally accepted
accounting principles applied on a consistent basis during the periods involved (except (a) as may be otherwise indicated in such
financial statements or the notes thereto or (b) in the case of unaudited interim statements, to the extent they may not include
footnotes or may be condensed or summary statements) and fairly present in all material respects the financial position of the
Company as of the dates thereof and the results of operations and cash flows for the periods then ended (subject, in the case
of unaudited statements, to normal, immaterial, year-end audit adjustments). The Company maintains a system of internal accounting
controls appropriate for its size. There is no transaction, arrangement, or other relationship between the Company and an unconsolidated
or other off balance sheet entity that is not disclosed by the Company in its financial statements or otherwise that would be
reasonably likely to have a Material Adverse Effect. Except with respect to the material terms and conditions of the transactions
contemplated by the Transaction Documents, the Company confirms that neither it nor any other Person acting on its behalf has
provided the Investor or its agents or counsel with any information that it believes constitutes or might constitute material,
non-public information. The Company understands and confirms that the Investor will rely on the foregoing representation in effecting
transactions in securities of the Company.

 

Section
4.6 VALID ISSUANCES. The Securities are duly authorized and, when issued and paid for in accordance with the applicable
Transaction Documents, will be validly issued, fully paid, and non- assessable, free and clear of all Liens imposed by the Company,
other than restrictions on transfer provided for in the Transaction Documents and under the Securities Act.

 

    - 9 -

     

    

 

Section
4.7 NO CONFLICTS. The execution, delivery and performance of this Agreement and the other Transaction Documents by the
Company, and the consummation by the Company of the transactions contemplated hereby and thereby, including, without limitation,
the issuance of the Put Shares and the Commitment Shares, do not and will not: (a) result in a violation of the Company’s
or any Subsidiary’s certificate or articles of incorporation, by-laws or other organizational or charter documents, (b)
conflict with, or constitute a material default (or an event that with notice or lapse of time or both would become a material
default) under, result in the creation of any Lien upon any of the properties or assets of the Company or any Subsidiary, or give
to others any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture, instrument or any “lock-up”
or similar provision of any underwriting or similar agreement to which the Company or any Subsidiary is a party, or (c) result
in a violation of any federal, state or local law, rule, regulation, order, judgment or decree (including federal and state securities
laws and regulations) applicable to the Company or any Subsidiary or by which any property or asset of the Company or any Subsidiary
is bound or affected (except for such conflicts, defaults, terminations, amendments, accelerations, cancellations and violations
as would not, individually or in the aggregate, have a Material Adverse Effect), nor is the Company otherwise in violation of,
conflict with or in default under any of the foregoing. The business of the Company is not being conducted in violation of any
law, ordinance or regulation of any governmental entity, except for possible violations that either singly or in the aggregate
do not and will not have a Material Adverse Effect. The Company is not required under federal, state or local law, rule or regulation
to obtain any consent, authorization or order of, or make any filing or registration with, any court or governmental agency in
order for it to execute, deliver or perform any of its obligations under this Agreement or the other Transaction Documents (other
than any SEC, FINRA or state securities filings that may be required to be made by the Company in connection with the issuance
of the Commitment Shares or subsequent to any Closing or any registration statement that may be filed pursuant hereto); provided
that, for purposes of the representation made in this sentence, the Company is assuming and relying upon the accuracy of the relevant
representations and agreements of Investor herein.

 

Section
4.8 NO MATERIAL ADVERSE CHANGE. No event has occurred that would have a Material Adverse Effect on the Company or any Subsidiary
that has not been disclosed in subsequent SEC filings.

 

Section
4.9 LITIGATION AND OTHER PROCEEDINGS. Except as set forth on Schedule 4.9, there are no actions, suits, investigations,
inquiries or proceedings pending or, to the knowledge of the Company, threatened against or affecting the Company, any Subsidiary
or any of their respective properties, nor has the Company received any written or oral notice of any such action, suit, proceeding,
inquiry or investigation, which would have a Material Adverse Effect or would require disclosure under the Securities Act or the
Exchange Act. No judgment, order, writ, injunction or decree or award has been issued by or, to the knowledge of the Company,
requested of any court, arbitrator or governmental agency which would have a Material Adverse Effect. There has not been, and
to the knowledge of the Company, there is not pending or contemplated, any investigation by the SEC involving the Company, any
Subsidiary, or any current or former director or officer of the Company or any Subsidiary.

 

Section
4.10 REGISTRATION RIGHTS. Except as set forth on Schedule 4.10, no Person (other than the Investor) has any right
to cause the Company to effect the registration under the Securities Act of any securities of the Company or any Subsidiary.

 

Section
4.11 INVESTOR’S STATUS. The Company acknowledges and agrees that the Investor is acting solely in the capacity of
arm’s length purchaser with respect to the Transaction Documents and the transactions contemplated hereby and thereby. The
Company further acknowledges that the Investor is not acting as a financial advisor or fiduciary of the Company (or in any similar
capacity) with respect to the Transaction Documents and the transactions contemplated hereby and thereby and any advice given
by the Investor or any of its representatives or agents in connection with the Transaction Documents and the transactions contemplated
hereby and thereby is merely incidental to the Investor’s purchase of the Securities. The Company further represents to
the Investor that the Company’s decision to enter into the Transaction Documents has been based solely on the independent
evaluation by the Company and its representatives and advisors.

 

    - 10 -

     

    

 

Section
4.12 NO GENERAL SOLICITATION; NO INTEGRATED OFFERING. Neither the Company, any Subsidiary, nor any of their respective
affiliates, nor any Person acting on their behalf, has engaged in any form of general solicitation or general advertising (within
the meaning of Regulation D under the Securities Act) in connection with the offer or sale of the Securities. Neither the Company,
any Subsidiary, nor any of their respective affiliates, nor any Person acting on their behalf has, directly or indirectly, made
any offers or sales of any security or solicited any offers to buy any security, under circumstances that would require registration
of the offer and sale of any of the Securities under the Securities Act, whether through integration with prior offerings or otherwise,
or cause this offering of the Securities to be integrated with prior offerings by the Company in a manner that would require stockholder
approval pursuant to the rules of the Principal Market on which any of the securities of the Company are listed or designated.
The issuance and sale of the Securities hereunder does not contravene the rules and regulations of the Principal Market.

 

Section
4.13 INTELLECTUAL PROPERTY RIGHTS. The Company and each Subsidiary own or possess adequate rights or licenses to use all
material trademarks, trade names, service marks, service mark registrations, service names, patents, patent rights, copyrights,
inventions, licenses, approvals, governmental authorizations, trade secrets and rights necessary to conduct their respective businesses
as now conducted. None of the Company’s, nor any Subsidiary’s material Intellectual Property has expired or terminated,
or, by the terms and conditions thereof, could expire or terminate within two years from the date of this Agreement. The Company
does not have any knowledge of any infringement by the Company and/or any Subsidiary of any material Intellectual Property of
others, or of any such development of similar or identical trade secrets or technical information by others, and there is no claim,
action or proceeding being made or brought against, or to the Company’s knowledge, being threatened against, the Company
and/or any Subsidiary regarding the infringement of any Intellectual Property, which could reasonably be expected to have a Material
Adverse Effect.

 

Section
4.14 ENVIRONMENTAL LAWS. To the Company’s knowledge, the Company and each Subsidiary (i) is in compliance with any
and all applicable foreign, federal, state and local laws and regulations relating to the protection of human health and safety,
the environment or hazardous or toxic substances or wastes, pollutants or contaminants (“Environmental Laws”),
(ii) has received all permits, licenses or other approvals required of it under applicable Environmental Laws to conduct its respective
businesses and (iii) is in compliance with all terms and conditions of any such permit, license or approval, except where, in
each of the three foregoing clauses, the failure to so comply could not reasonably be expected to have, individually or in the
aggregate, a Material Adverse Effect.

 

Section
4.15 TITLE. Except as disclosed in the SEC Documents, the Company and each Subsidiary has good and marketable title in
fee simple to all real property owned by it and good and marketable title in all personal property owned by it that is material
to the business of the Company and each Subsidiary, in each case free and clear of all Liens and, except for Liens as do not materially
affect the value of such property and do not materially interfere with the use made and proposed to be made of such property by
the Company or any Subsidiary and Liens for the payment of federal, state or other taxes, the payment of which is neither delinquent
nor subject to penalties. Any real property and facilities held under lease by the Company or any Subsidiary is held under valid,
subsisting and enforceable leases with which the Company is in compliance with such exceptions as are not material and do not
interfere with the use made and proposed to be made of such property and buildings by the Company or any Subsidiary.

 

Section
4.16 INSURANCE. The Company and each Subsidiary is insured by insurers of recognized financial responsibility against such
losses and risks and in such amounts as management of the Company believes to be prudent and customary in the businesses in which
the Company and each Subsidiary is engaged. Neither the Company, nor any Subsidiary has been refused any insurance coverage sought
or applied for, and the Company has no reason to believe that it or any Subsidiary will not be able to renew its existing insurance
coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue
its business at a cost that would not materially and adversely affect the condition, financial or otherwise, or the earnings,
business or operations of the Company, taken as a whole.

 

    - 11 -

     

    

 

Section
4.17 REGULATORY PERMITS. The Company and each Subsidiary possesses all material certificates, authorizations and permits
issued by the appropriate federal, state or foreign regulatory authorities necessary to conduct its businesses, and neither the
Company, nor any Subsidiary has received any notice of proceedings relating to the revocation or modification of any such certificate,
authorization or permit.

 

Section
4.18 TAX STATUS. The Company and each Subsidiary has made or filed all federal and state income and all other material
tax returns, reports and declarations required by any jurisdiction to which it is subject (unless and only to the extent that
the Company has set aside on its books provisions reasonably adequate for the payment of all unpaid and unreported taxes) and
has paid all taxes and other governmental assessments and charges that are material in amount, shown or determined to be due on
such returns, reports and declarations, except those being contested in good faith and has set aside on its books provision reasonably
adequate for the payment of all taxes for periods subsequent to the periods to which such returns, reports or declarations apply.
There are no unpaid taxes in any material amount claimed to be due by the taxing authority of any jurisdiction, and the officers
of the Company know of no basis for any such claim.

 

Section
4.19 TRANSACTIONS WITH AFFILIATES. Except as set forth in the SEC Documents, none of the officers or directors of the
Company or any Subsidiary, and to the knowledge of the Company, none of the employees of the Company or any Subsidiary is
presently a party to any transaction with the Company or any Subsidiary (other than for services as employees, officers and
directors), including any contract, agreement or other arrangement providing for the furnishing of services to or by,
providing for rental of real or personal property to or from, or otherwise requiring payments to or from any officer,
director or such employee or, to the knowledge of the Company, any entity in which any officer, director, or any such
employee has a substantial interest or is an officer, director, trustee or partner, in each case in excess of the lesser of
(i) $120,000 or (ii) one percent of the average of the Company’s total assets at year end for the last two completed
fiscal years, other than for (i) payment of salary or consulting fees for services rendered, (ii) reimbursement for expenses
incurred on behalf of the Company or any Subsidiary and (iii) other employee benefits, including stock option agreements
under any stock option plan of the Company.

 

Section
4.20 APPLICATION OF TAKEOVER PROTECTIONS. The Company and its board of directors have taken or will take prior to the Execution
Date all necessary action, if any, in order to render inapplicable any control share acquisition, business combination, poison
pill (including any distribution under a rights agreement) or other similar anti-takeover provision under the articles of incorporation
or the laws of the state of its incorporation which is or could become applicable to the Investor as a result of the transactions
contemplated by this Agreement, including, without limitation, the Company’s issuance of the Securities and the Investor’s
ownership of the Securities.

 

Section
4.21 FOREIGN CORRUPT PRACTICES. Neither the Company, any Subsidiary, nor to the knowledge of the Company, any agent or
other Person acting on behalf of the Company or any Subsidiary, has (i) directly or indirectly, used any funds for unlawful contributions,
gifts, entertainment or other unlawful expenses related to foreign or domestic political activity, (ii) made any unlawful payment
to foreign or domestic government officials or employees or to any foreign or domestic political parties or campaigns from corporate
funds, (iii) failed to disclose fully any contribution made by the Company or any Subsidiary (or made by any Person acting on
its behalf of which the Company is aware) which is in violation of law, or (iv) violated in any material respect any provision
of the Foreign Corrupt Practices Act of 1977, as amended.

 

Section
4.22 SARBANES-OXLEY. The Company is in compliance with all provisions of the Sarbanes-Oxley Act of 2002, as amended, which
are applicable to it.

 

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Section
4.23 CERTAIN FEES. No brokerage or finder’s fees or commissions are or will be payable by the Company to any broker,
financial advisor or consultant, finder, placement agent, investment banker, bank or other Person with respect to the transactions
contemplated by the Transaction Documents. The Investor shall have no obligation with respect to any fees or with respect to any
claims made by or on behalf of other Persons for fees of a type contemplated in this Section 4.22 that may be due in connection
with the transactions contemplated by the Transaction Documents.

 

Section
4.24 INVESTMENT COMPANY. The Company is not an “investment company” within the meaning of the Investment Company
Act of 1940, as amended.

 

Section
4.25 ACCOUNTANTS. The Company’s accountants are set forth in the SEC Documents and, to the knowledge of the Company,
such accountants are an independent registered public accounting firm as required by the Securities Act.

 

Section
4.26 NO MARKET MANIPULATION. Neither the Company, nor any Subsidiary has, and to its knowledge no Person acting on either
of their behalf has, (i) taken, directly or indirectly, any action designed to cause or to result in the stabilization or manipulation
of the price of any security of the Company to facilitate the sale or resale of any of the Securities, (ii) sold, bid for, purchased,
or, paid any compensation for soliciting purchases of, any of the Securities, or (iii) paid or agreed to pay to any Person any
compensation for soliciting another to purchase any other securities of the Company.

 

Section
4.27 NO DISQUALIFICATION EVENTS. None of the Company, any Subsidiary, any of their predecessors, any affiliated issuer,
any director, executive officer, other officer of the Company or any Subsidiary participating in the offering contemplated hereby,
any beneficial owner of 20% or more of the Company’s outstanding voting equity securities, calculated on the basis of voting
power, nor any promoter (as that term is defined in Rule 405 under the Securities Act) connected with the Company in any capacity
at the time of sale (each, an “Issuer Covered Person”) is subject to any of the “Bad Actor” disqualifications
described in Rule 506(d)(1)(i) to (viii) under the Securities Act (a “Disqualification Event”), except for
a Disqualification Event covered by Rule 506(d)(2) or (d)(3) under the Securities Act. The Company has exercised reasonable care
to determine whether any Issuer Covered Person is subject to a Disqualification Event.

 

Section
4.28 MONEY LAUNDERING. The Company and each Subsidiary is in compliance with, and has not previously violated, the USA
PATRIOT ACT of 2001 and all other applicable U.S. and non-U.S. anti-money laundering laws and regulations, including, but not
limited to, the laws, regulations and Executive Orders and sanctions programs administered by the U.S. Office of Foreign Assets
Control, including, but not limited, to (i) Executive Order 13224 of September 23, 2001 entitled, “Blocking Property and
Prohibiting Transactions With Persons Who Commit, Threaten to Commit, or Support Terrorism” (66 Fed. Reg. 49079 (2001));
and (ii) any regulations contained in 31 CFR, Subtitle B, Chapter V.

 

Section 4.29 ILLEGAL
OR UNAUTHORIZED PAYMENTS; POLITICAL CONTRIBUTIONS.
Neither the Company, nor any Subsidiary has, nor, to the best of the Company’s knowledge (after reasonable inquiry of its
officers and directors), any of the officers, directors, employees, agents or other representatives of the Company, any Subsidiary
or any other business entity or enterprise with which the Company is or has been affiliated or associated, has, directly or indirectly,
made or authorized any payment, contribution or gift of money, property, or services, whether or not in contravention of applicable
law, (a) as a kickback or bribe to any Person or (b) to any political organization, or the holder of or any aspirant to any elective
or appointive public office except for personal political contributions not involving the direct or indirect use of funds of the
Company.

 

    - 13 -

     

    

 

Section
4.30 SHELL COMPANY STATUS. The Company is not currently an issuer identified in Rule 144(i)(1)(i) under the Securities
Act, is subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act, has filed all reports and other materials
required to be filed by Section 13 or 15(d) of the Exchange Act, as applicable during the preceding 12 months, and, as of a date
at least one year prior to the Execution Date, has filed current “Form 10 information” with the SEC (as defined in
Rule 144(i)(3) of the Securities Act) reflecting its status as an entity that is no longer an issuer described in Rule 144(i)(1)(i)
of the Securities Act.

 

Section
4.31 ABSENCE OF SCHEDULES. In the event that on the Execution Date, the Company does not deliver any disclosure schedule
contemplated by this Agreement, the Company hereby acknowledges and agrees that (i) each such undelivered disclosure schedule
shall be deemed to read as follows: “Nothing to Disclose”, and (ii) the Investor has not otherwise waived delivery
of such disclosure schedule.

 

ARTICLE
V

COVENANTS
OF INVESTOR

 

Section
5.1 COMPLIANCE WITH LAW; TRADING IN SECURITIES. The Investor’s trading activities with respect to shares of Common
Stock will be in compliance with all applicable state and federal securities laws and regulations and the rules and regulations
of FINRA and the Principal Market.

 

Section
5.2 SHORT SALES AND CONFIDENTIALITY. Neither the Investor, nor any affiliate of the Investor acting on its behalf or pursuant
to any understanding with it, will execute any Short Sales during the period from the Execution Date to the end of the Commitment
Period. For the purposes hereof, and in accordance with Regulation SHO, the sale after delivery of a Put Notice of such number
of shares of Common Stock reasonably expected to be purchased under a Put Notice shall not be deemed a Short Sale. The Investor
shall, until such time as the transactions contemplated by this Agreement are publicly disclosed by the Company in accordance
with the terms of this Agreement, maintain the confidentiality of the existence and terms of this transaction and the information
included in the Transaction Documents. The Investor agrees not to disclose any Confidential Information of the Company to any
third party, except for attorneys, accountants, advisors who have a need to know such Confidential Information and are bound by
confidentiality, and shall not use any Confidential Information for any purpose other than in connection with, or in furtherance
of, the transactions contemplated hereby. The Investor acknowledges that the Confidential Information of the Company shall remain
the property of the Company and agrees that it shall take all reasonable measures to protect the secrecy of any Confidential Information
disclosed by the Company.

 

ARTICLE
VI 

COVENANTS OF THE COMPANY

 

Section
6.1 REMOVED AND RESERVED.

 

Section
6.2 LISTING OF COMMON STOCK. The Company shall promptly secure the listing of all of the Put Shares and Commitment Shares
to be issued to the Investor hereunder on the Principal Market (subject to official notice of issuance) and shall use commercially
reasonable best efforts to maintain, so long as any shares of Common Stock shall be so listed, the listing of all such Put Shares
and Commitment Shares from time to time issuable hereunder. The Company shall use its commercially reasonable efforts to continue
the listing and trading of the Common Stock on the Principal Market (including, without limitation, maintaining sufficient net
tangible assets) and will comply in all respects with the Company’s reporting, filing and other obligations under the bylaws
or rules of FINRA and the Principal Market. The Company shall not take any action that would reasonably be expected to result
in the delisting or suspension of the Common Stock on the Principal Market. The Company shall promptly, and in no event later
than the following Trading Day, provide to the Investor copies of any notices it receives from any Person regarding the continued
eligibility of the Common Stock for listing on the Principal Market. The Company shall pay all fees and expenses in connection
with satisfying its obligations under this Section 6.2). The Company shall take all action necessary to ensure that its
Common Stock can be transferred electronically as DWAC Shares.

 

    - 14 -

     

    

 

Section
6.3 OTHER EQUITY LINES. So long as this Agreement remains in effect, the Company covenants and agrees that it will not,
without the prior written consent of the Investor, enter into any other equity line of credit agreement with any other party,
without the Investor’s prior written consent, which consent may be granted or withheld in the Investor’s sole and
absolute discretion.

 

Section
6.4 FILING OF CURRENT REPORT AND REGISTRATION STATEMENT. The Company agrees that it shall file a Current Report on Form
8-K, including the Transaction Documents as exhibits thereto, with the SEC within the time required by the Exchange Act, relating
to the transactions contemplated by, and describing the material terms and conditions of, the Transaction Documents (the “Current
Report”). The Company shall permit the Investor to review and comment upon the final pre-filing draft version of the
Current Report at least two (2) Trading Days prior to its filing with the SEC, and the Company shall give reasonable consideration
to all such comments. The Investor shall use its reasonable best efforts to comment upon the final pre-filing draft version of
the Current Report within one (1) Trading Day from the date the Investor receives it from the Company. Pursuant to the terms of
the Registration Rights Agreement, the Company shall also file with the SEC, on or before the twenty-eighth (28th) day following
the Execution Date, a new registration statement on Form S-1 (the “Registration Statement”) covering only the
resale of the Put Shares and Commitment Shares.

 

Section
6.5 ISSUANCE OF COMMITMENT SHARES. In consideration for the Investor’s execution and delivery of, and performance
under this Agreement, the Company shall cause the Transfer Agent to issue the Commitment Shares to the Investor on the Execution
Date. For the avoidance of doubt, all of the Commitment Shares shall be fully earned as of the Execution Date, and the issuance
of the Commitment Shares is not contingent upon any other event or condition, including, without limitation, the effectiveness
of the Registration Statement or the Company’s submission of a Put Notice to the Investor and irrespective of any termination
of this Agreement.

 

Section
6.6 DUE DILIGENCE; CONFIDENTIALITY; NON-PUBLIC INFORMATION. The Investor shall have the right, from time to time as the
Investor may reasonably deem appropriate, to perform reasonable due diligence on the Company during normal business hours. The
Company, each Subsidiary and their respective officers and employees shall provide information and reasonably cooperate with the
Investor in connection with any reasonable request by the Investor related to the Investor’s due diligence of the Company.
The Company agrees not to disclose any Confidential Information of the Investor to any third party, except for attorneys, accountants,
advisors who have a need to know such Confidential Information and are bound by confidentiality, and shall not use any Confidential
Information for any purpose other than in connection with, or in furtherance of, the transactions contemplated hereby. The Company
acknowledges that the Confidential Information of the Investor shall remain the property of the Investor and agrees that it shall
take all reasonable measures to protect the secrecy of any Confidential Information disclosed by the Investor. The Company confirms
that neither it nor any other Person acting on its behalf shall provide the Investor or its agents or counsel with any information
that constitutes or might constitute material, non-public information, unless a simultaneous public announcement thereof is made
by the Company in the manner contemplated by Regulation FD. In the event of a breach of the foregoing covenant by the Company
or any Person acting on its behalf (as determined in the reasonable good faith judgment of the Investor), in addition to any other
remedy provided herein or in the other Transaction Documents, the Investor shall have the right to make a public disclosure, in
the form of a press release, public advertisement or otherwise, of such material, non-public information without the prior approval
by the Company; provided the Investor shall have first provided notice to the Company that it believes it has received information
that constitutes material, non-public information, and the Company shall have had at least twenty-four (24) hours to publicly
disclose such material, non-public information prior to any such disclosure by the Investor, and the Company shall have failed
to publicly disclose such material, non-public information within such time period. The Investor shall not have any liability
to the Company, any Subsidiary, or any of their respective directors, officers, employees, stockholders, affiliates or agents,
for any such disclosure. The Company understands and confirms that the Investor shall be relying on the foregoing covenants in
effecting transactions in securities of the Company.

 

    - 15 -

     

    

 

Section
6.7 PURCHASE RECORDS. The Company shall maintain records showing the Available Amount at any given time and the date, Investment
Amount and Put Shares for each Put, contained in the applicable Put Notice.

 

Section
6.8 TAXES. The Company shall pay any and all transfer, stamp or similar taxes that may be payable with respect to the issuance
and delivery of any shares of Common Stock to the Investor made under this Agreement.

 

Section
6.9 USE OF PROCEEDS. The Company will use the net proceeds from the offering of Put Shares hereunder in the manner described
in the Registration Statement or the SEC Documents.

 

Section
6.10 OTHER TRANSACTIONS. The Company shall not enter into, announce or recommend to its stockholders any agreement, plan,
arrangement or transaction in or of which the terms thereof would restrict, materially delay, conflict with or impair the ability
or right of the Company to perform its obligations under the Transaction Documents, including, without limitation, the obligation
of the Company to deliver the Put Shares and the Commitment Shares to the Investor in accordance with the terms of the Transaction
Documents.

 

Section
6.11 INTEGRATION. In any case subject to the terms of the Registration Rights Agreement, from and after the Execution Date,
neither the Company, nor or any of its affiliates will, and the Company shall use its reasonable best efforts to ensure that no
Person acting on their behalf will, directly or indirectly, make any offers or sales of any security or solicit any offers to
buy any security, under circumstances that would require registration of the offer and sale of any of the Securities under the
Securities Act.

 

Section
6.12 KEY PERSON. If at any time during the Commitment Period either of the Company’s CEO or CFO as of the Execution
Date, resigns or is otherwise removed from office (except for cases of death or disability), then a liquidated damages charge
of $25,000.00 will be assessed, in each case, and will become immediately due and payable to the Buyer in the form of cash payment.
The liquidated damages charge in this Section 6.12 shall be in addition to, and not in substitution of, any of the other
rights of the Investor under this Agreement.

 

Section
6.13 TRANSACTION DOCUMENTS. On the Execution Date, the Company shall deliver to the Investor executed copies of all of
the Transaction Documents.

 

    - 16 -

     

    

 

ARTICLE
VII

CONDITIONS
TO DELIVERY OF PUT NOTICES AND CONDITIONS TO CLOSING

 

Section
7.1 CONDITIONS PRECEDENT TO THE RIGHT OF THE COMPANY TOISSUE AND SELL PUT SHARES. The right of the Company to issue and
sell the Put Shares to the Investor is subject to the satisfaction of each of the conditions set forth below:

 

(a)
ACCURACY OF INVESTOR’S REPRESENTATIONS AND WARRANTIES. The representations and warranties of the Investor shall be
true and correct in all material respects as of the Execution Date and as of the date of each Closing as though made at each such
time.

 

(b)
PERFORMANCE BY INVESTOR. Investor shall have performed, satisfied and complied in all respects with all covenants, agreements
and conditions required by this Agreement to be performed, satisfied or complied with by the Investor at or prior to such Closing.

 

(c)
REGISTRATION STATEMENT. The Company shall not have the right to issue any Put Shares if the Registration Statement, and
any amendment or supplement thereto, shall fail to be and remain effective for the resale by the Investor of the Put Shares and
Commitment Shares.

 

Section
7.2 CONDITIONS PRECEDENT TO THE OBLIGATION OF INVESTOR TO PURCHASE PUT SHARES. The obligation of the Investor hereunder
to purchase Put Shares is subject to the satisfaction of each of the following conditions:

 

(a)
REGISTRATION STATEMENT. The Registration Statement, and any amendment or supplement thereto, shall be and remain effective
for the resale by the Investor of the Put Shares and the Commitment Shares and (i) neither the Company nor the Investor shall
have received notice that the SEC has issued or intends to issue a stop order with respect to such Registration Statement or that
the SEC otherwise has suspended or withdrawn the effectiveness of such Registration Statement, either temporarily or permanently,
or intends or has threatened to do so and (ii) no other suspension of the use of, or withdrawal of the effectiveness of, such
Registration Statement or related prospectus shall exist. The Company shall have prepared and filed with the SEC a final and complete
prospectus (the preliminary form of which shall be included in the Registration Statement) and shall have delivered to the Investor
a true and complete copy thereof. Such prospectus shall be current and available for the resale by the Investor of all of the
Securities covered thereby.

 

(b)
ACCURACY OF THE COMPANY’S REPRESENTATIONS AND WARRANTIES. The representations and warranties of the Company
shall be true and correct in all material respects as of the Execution Date and as of the date of each Closing (except for representations
and warranties under the first sentence of Section 4.3, which are specifically made as of the Execution Date and shall
be true and correct in all respects as of the Execution Date).

 

(c)
PERFORMANCE BY THE COMPANY. The Company shall have performed, satisfied and complied in all material respects with all
covenants, agreements and conditions required by this Agreement to be performed, satisfied or complied with by the Company.

 

(d)
NO INJUNCTION. No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered,
promulgated or adopted by any court or governmental authority of competent jurisdiction that prohibits or directly and materially
adversely affects any of the transactions contemplated by the Transaction Documents, and no proceeding shall have been commenced
that may have the effect of prohibiting or materially adversely affecting any of the transactions contemplated by the Transaction
Documents.

 

(e)
ADVERSE CHANGES. Since the date of filing of the Company’s most recent SEC Document, no event that had or is reasonably
likely to have a Material Adverse Effect has occurred.

 

    - 17 -

     

    

 

(f)
NO SUSPENSION OF TRADING IN OR DELISTING OF COMMON STOCK. The trading of the Common Stock shall not have been suspended
by the SEC, the Principal Market or FINRA, or otherwise halted for any reason, and the Common Stock shall have been approved for
listing or quotation on and shall not have been delisted from the Principal Market. In the event of a suspension, delisting, or
halting for any reason, of the trading of the Common Stock, as contemplated by this Section 7.2(f), the Investor shall
have the right to return to the Company any remaining amount of Put Shares associated with such Put, and the Purchase Price with
respect to such Put shall be reduced accordingly.

 

(g)
BENEFICIAL OWNERSHIP LIMITATION. The number of Put Shares to be purchased by the Investor shall not exceed the number of
such shares that, when aggregated with all other shares of Common Stock then owned by the Investor beneficially or deemed beneficially
owned by the Investor, would result in the Investor owning more than the Beneficial Ownership Limitation (as defined below), as
determined in accordance with Section 16 of the Exchange Act and the regulations promulgated thereunder. For purposes of this
Section 7.2(g), in the event that the amount of Common Stock outstanding, as determined in accordance with Section 16 of
the Exchange Act and the regulations promulgated thereunder, is greater on a Closing Date than on the date upon which the Put
Notice associated with such Closing Date is given, the amount of Common Stock outstanding on such Closing Date shall govern for
purposes of determining whether the Investor, when aggregating all purchases of Common Stock made pursuant to this Agreement,
would own more than the Beneficial Ownership Limitation following such Closing Date. The “Beneficial Ownership Limitation”
shall be 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares
of Common Stock issuable pursuant to a Put Notice.

 

(h)
NO KNOWLEDGE. The Company shall have no knowledge of any event more likely than not to have the effect of causing the Registration
Statement to be suspended or otherwise ineffective (which event is more likely than not to occur within the fifteen (15) Trading
Days following the Trading Day on which such Put Notice is deemed delivered). The Company shall have no knowledge of any untrue
statement (or alleged untrue statement) of a material fact or omission (or alleged omission) of a material fact required to be
stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading,
in the Registration Statement, any effective registration statement filed pursuant to the Registration Rights Agreement or any
post-effective amendment or prospectus which is a part of the foregoing, unless the Company has filed an amendment with the SEC
or taken such other.

 

(i)
NO VIOLATION OF SHAREHOLDER APPROVAL REQUIREMENT. The issuance of the Put Shares shall not violate the shareholder approval
requirements of the Principal Market.

 

(j)
OFFICER’S CERTIFICATE. On the date of delivery of each Put Notice, the Investor shall have received the Closing Certificate
executed by an executive officer of the Company and to the effect that all the conditions to such Closing shall have been satisfied
as of the date of each such certificate.

 

(k)
DWAC ELIGIBLE. The Common Stock must be DWAC Eligible and not subject to a “DTC chill.”

 

(l)
SEC DOCUMENTS. All reports, schedules, registrations, forms, statements, information and other documents required to have
been filed by the Company with the SEC pursuant to the reporting requirements of the Exchange Act (other than Forms 8-K) shall
have been filed with the SEC within the applicable time periods prescribed for such filings under the Exchange Act.

 

(m)
REMOVED AND RESERVED.

 

(n)
REMOVED AND RESERVED.

 

    - 18 -

     

    

 

(o)
MINIMUM PRICING. The lowest traded price of the Common Stock in the five (5) Trading Days immediately preceding the respective
Put Date must exceed $0.01 per share.

 

(p)
NO VIOLATION. No statute, regulation, order, guidance, decree, writ, ruling or injunction shall have been enacted, entered,
promulgated, threatened or endorsed by any federal, state, local or foreign court or governmental authority of competent jurisdiction,
including, without limitation, the SEC, which prohibits the consummation of or which would materially modify or delay any of the
transactions contemplated by the Transaction Documents.

 

(q)
LEGAL OPINION. The Company shall cause to be delivered to the Investor a written opinion of counsel satisfactory to the
Investor, in form and substance satisfactory to the Investor and its counsel, relating to the availability and effectiveness of
the Registration Statement, as supplemented by any prospectus supplement or amendment thereto, and regarding the Company’s
compliance with the Delaware Statutes and the federal securities laws of the United States in the issuance, sale and registration
of the Put Shares and Commitment Shares.

 

ARTICLE
VIII

LEGENDS

 

Section
8.1 NO RESTRICTIVE STOCK LEGEND. No restrictive stock legend shall be placed on the share certificates representing the
Put Shares.

 

Section
8.2 INVESTOR’S COMPLIANCE. Nothing in this Article VIII shall affect in any way the Investor’s obligations
hereunder to comply with all applicable securities laws upon the sale of the Common Stock.

 

ARTICLE
IX

NOTICES;
INDEMNIFICATION

 

Section
9.1 NOTICES. All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder
shall be in writing and, unless otherwise specified herein, shall be (a) personally served, (b) deposited in the mail, registered
or certified, return receipt requested, postage prepaid, (c) delivered by reputable air courier service with charges prepaid,
or (d) transmitted by hand delivery, telegram, or e-mail as a PDF, addressed as set forth below or to such other address as such
party shall have specified most recently by written notice given in accordance herewith. Any notice or other communication required
or permitted to be given hereunder shall be deemed effective (i) upon hand delivery or delivery by e-mail at the address designated
below (if delivered on a business day during normal business hours where such notice is to be received), or the first business
day following such delivery (if delivered other than on a business day during normal business hours where such notice is to be
received) or (ii) on the second business day following the date of mailing by express courier service or on the fifth business
day after deposited in the mail, in each case, fully prepaid, addressed to such address, or upon actual receipt of such mailing,
whichever shall first occur.

 

The
addresses for such communications shall be:

 

If to the Company:

 

Sharing
Economy International Inc.

M03 3/F. Eton Tower

8
Hysan Ave, Causeway Bay, Hong Kong

Email:
pk.lau@seii.com

Attention:
Ping Kee Lau, CEO

 

    - 19 -

     

    

 

If
to the Investor:

 

Oasis
Capital, LLC

208
Ponce de Leon Ave, Suite 1600

San Juan, PR 00918

E-mail:
adam@oasis-cap.com

Attention:
Adam Long, Managing Partner

 

with
a copy to (that shall not constitute notice)

 

K&L Gates LLP

200
S. Biscayne Blvd., Suite 3900

Miami,
FL 33131

E-mail:
john.owens@klgates.com

Attention: John D. Owens, III, Esq.

 

Either
party hereto may from time to time change its address or e-mail for notices under this Section 9.1 by giving at least ten
(10) days’ prior written notice of such changed address to the other party hereto.

 

Section
9.2 INDEMNIFICATION. Each party hereto (an “Indemnifying Party”) agrees to indemnify and hold harmless
the other party along with its officers, directors, employees, and authorized agents and representatives, and each Person or entity,
if any, who controls such party within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act or the
rules and regulations thereunder (an “Indemnified Party”) from and against any and all Damages, joint or several,
and any and all actions in respect thereof to which the Indemnified Party becomes subject to, resulting from, arising out of or
relating to (i) any misrepresentation, breach of warranty or nonfulfillment of or failure to perform any covenant or agreement
on the part of the Indemnifying Party contained in this Agreement, (ii) any untrue statement or alleged untrue statement of a
material fact contained in the Registration Statement, any registration statement pursuant to the Registration Rights Agreement
or any post-effective amendment thereof or supplement thereto, or the omission or alleged omission therefrom of a material fact
required to be stated therein or necessary to make the statements therein not misleading, (iii) any untrue statement or alleged
untrue statement of a material fact contained in any preliminary prospectus or contained in the final prospectus (as amended or
supplemented, if the Company files any amendment thereof or supplement thereto with the SEC) or the omission or alleged omission
to state therein any material fact necessary to make the statements made therein, in the light of the circumstances under which
the statements therein were made, not misleading, or (iv) any violation or alleged violation by the Company of the Securities
Act, the Exchange Act, any state securities law or any rule or regulation under the Securities Act, the Exchange Act or any state
securities law, as such Damages are incurred, except to the extent such Damages result primarily from the Indemnified Party’s
failure to perform any covenant or agreement contained in this Agreement or the Indemnified Party’s negligence, recklessness,
fraud, willful misconduct or bad faith in performing its obligations under this Agreement; provided, however, that
the foregoing indemnity agreement shall not apply to any Damages of an Indemnified Party to the extent, but only to the extent,
arising out of or based upon any untrue statement or alleged untrue statement or omission or alleged omission made by an Indemnifying
Party in reliance upon and in conformity with written information furnished to the Indemnifying Party by the Indemnified Party
expressly for use in the Registration Statement, any post- effective amendment thereof or supplement thereto, or any preliminary
prospectus or final prospectus (as amended or supplemented).

 

    - 20 -

     

    

 

Section
9.3 METHOD OF ASSERTING INDEMNIFICATION CLAIMS. All claims for indemnification by any Indemnified Party under Section
9.1 shall be asserted and resolved as follows:

 

(a)
In the event any claim or demand in respect of which an Indemnified Party might seek indemnity under Section 9.2 is asserted
against or sought to be collected from such Indemnified Party by a Person other than a party hereto or an affiliate thereof (a
“Third Party Claim”), the Indemnified Party shall deliver a written notification, enclosing a copy of all papers
served, if any, and specifying the nature of and basis for such Third Party Claim and for the Indemnified Party’s claim
for indemnification that is being asserted under any provision of Section 9.2 against an Indemnifying Party, together with
the amount or, if not then reasonably ascertainable, the estimated amount, determined in good faith, of such Third Party Claim
(a “Claim Notice”) with reasonable promptness to the Indemnifying Party. If the Indemnified Party fails to
provide the Claim Notice with reasonable promptness after the Indemnified Party receives notice of such Third Party Claim, the
Indemnifying Party shall not be obligated to indemnify the Indemnified Party with respect to such Third Party Claim to the extent
that the Indemnifying Party’s ability to defend has been prejudiced by such failure of the Indemnified Party. The Indemnifying
Party shall notify the Indemnified Party as soon as practicable within the period ending thirty (30) calendar days following receipt
by the Indemnifying Party of either a Claim Notice or an Indemnity Notice (as defined below) (the “Dispute Period”)
whether the Indemnifying Party disputes its liability or the amount of its liability to the Indemnified Party under Section
9.2 and whether the Indemnifying Party desires, at its sole cost and expense, to defend the Indemnified Party against such
Third Party Claim.

 

(i)
If the Indemnifying Party notifies the Indemnified Party within the Dispute Period that the Indemnifying Party desires to defend
the Indemnified Party with respect to the Third Party Claim pursuant to this Section 9.3(a), then the Indemnifying Party
shall have the right to defend, with counsel reasonably satisfactory to the Indemnified Party, at the sole cost and expense of
the Indemnifying Party, such Third Party Claim by all appropriate proceedings, which proceedings shall be vigorously and diligently
prosecuted by the Indemnifying Party to a final conclusion or will be settled at the discretion of the Indemnifying Party (but
only with the consent of the Indemnified Party in the case of any settlement that provides for any relief other than the payment
of monetary damages or that provides for the payment of monetary damages as to which the Indemnified Party shall not be indemnified
in full pursuant to Section 9.1). The Indemnifying Party shall have full control of such defense and proceedings, including
any compromise or settlement thereof; provided, however, that the Indemnified Party may, at the sole cost and expense
of the Indemnified Party, at any time prior to the Indemnifying Party’s delivery of the notice referred to in the first
sentence of this clause (i), file any motion, answer or other pleadings or take any other action that the Indemnified Party reasonably
believes to be necessary or appropriate to protect its interests; and provided, further, that if requested by the
Indemnifying Party, the Indemnified Party will, at the sole cost and expense of the Indemnifying Party, provide reasonable cooperation
to the Indemnifying Party in contesting any Third Party Claim that the Indemnifying Party elects to contest. The Indemnified Party
may participate in, but not control, any defense or settlement of any Third Party Claim controlled by the Indemnifying Party pursuant
to this clause (i), and except as provided in the preceding sentence, the Indemnified Party shall bear its own costs and expenses
with respect to such participation. Notwithstanding the foregoing, the Indemnified Party may takeover the control of the defense
or settlement of a Third Party Claim at any time if it irrevocably waives its right to indemnity under Section 9.1 with
respect to such Third Party Claim.

 

    - 21 -

     

    

 

(ii)
If the Indemnifying Party fails to notify the Indemnified Party within the Dispute Period that the Indemnifying Party desires
to defend the Third Party Claim pursuant to this Section 9.3(a), or if the Indemnifying Party gives such notice but fails
to prosecute vigorously and diligently or settle the Third Party Claim, or if the Indemnifying Party fails to give any notice
whatsoever within the Dispute Period, then the Indemnified Party shall have the right to defend, at the sole cost and expense
of the Indemnifying Party, the Third Party Claim by all appropriate proceedings, which proceedings shall be prosecuted by the
Indemnified Party in a reasonable manner and in good faith or will be settled at the discretion of the Indemnified Party(with
the consent of the Indemnifying Party, which consent will not be unreasonably withheld). The Indemnified Party will have full
control of such defense and proceedings, including any compromise or settlement thereof; provided, however, that if requested
by the Indemnified Party, the Indemnifying Party will, at the sole cost and expense of the Indemnifying Party, provide reasonable
cooperation to the Indemnified Party and its counsel in contesting any Third Party Claim which the Indemnified Party is contesting.
Notwithstanding the foregoing provisions of this clause (ii), if the Indemnifying Party has notified the Indemnified Party within
the Dispute Period that the Indemnifying Party disputes its liability or the amount of its liability hereunder to the Indemnified
Party with respect to such Third Party Claim and if such dispute is resolved in favor of the Indemnifying Party in the manner
provided in clause (iii) below, the Indemnifying Party will not be required to bear the costs and expenses of the Indemnified
Party’s defense pursuant to this clause (ii) or of the Indemnifying Party’s participation therein at the Indemnified
Party’s request, and the Indemnified Party shall reimburse the Indemnifying Party in full for all reasonable costs and expenses
incurred by the Indemnifying Party in connection with such litigation. The Indemnifying Party may participate in, but not control,
any defense or settlement controlled by the Indemnified Party pursuant to this clause (ii), and the Indemnifying Party shall bear
its own costs and expenses with respect to such participation.

 

(iii)
If the Indemnifying Party notifies the Indemnified Party that it does not dispute its liability or the amount of its liability
to the Indemnified Party with respect to the Third Party Claim under Section 9.1 or fails to notify the Indemnified Party
within the Dispute Period whether the Indemnifying Party disputes its liability or the amount of its liability to the Indemnified
Party with respect to such Third Party Claim, the amount of Damages specified in the Claim Notice shall be conclusively deemed
a liability of the Indemnifying Party under Section 9.1 and the Indemnifying Party shall pay the amount of such Damages
to the Indemnified Party on demand. If the Indemnifying Party has timely disputed its liability or the amount of its liability
with respect to such Third Party Claim, the Indemnifying Party and the Indemnified Party shall proceed in good faith to negotiate
a resolution of such dispute; provided, however, that if the dispute is not resolved within thirty (30) days after
the Claim Notice, the Indemnifying Party shall be entitled to institute such legal action as it deems appropriate.

 

(b)
In the event any Indemnified Party should have a claim under Section 9.1 against the Indemnifying Party that does not involve
a Third Party Claim, the Indemnified Party shall deliver a written notification of a claim for indemnity under Section 9.1
specifying the nature of and basis for such claim, together with the amount or, if not then reasonably ascertainable, the
estimated amount, determined in good faith, of such claim (an “Indemnity Notice”) with reasonable promptness
to the Indemnifying Party. The failure by any Indemnified Party to give the Indemnity Notice shall not impair such party’s
rights hereunder except to the extent that the Indemnifying Party demonstrates that it has been irreparably prejudiced thereby.
If the Indemnifying Party notifies the Indemnified Party that it does not dispute the claim or the amount of the claim described
in such Indemnity Notice or fails to notify the Indemnified Party within the Dispute Period whether the Indemnifying Party disputes
the claim or the amount of the claim described in such Indemnity Notice, the amount of Damages specified in the Indemnity Notice
will be conclusively deemed a liability of the Indemnifying Party under Section 9.1 and the Indemnifying Party shall pay
the amount of such Damages to the Indemnified Party on demand. If the Indemnifying Party has timely disputed its liability or
the amount of its liability with respect to such claim, the Indemnifying Party and the Indemnified Party shall proceed in good
faith to negotiate a resolution of such dispute; provided, however, that if the dispute is not resolved within thirty (30) days
after the Claim Notice, the Indemnifying Party shall be entitled to institute such legal action as it deems appropriate.

 

(c)
The Indemnifying Party agrees to pay the Indemnified Party, promptly as such expenses are incurred and are due and payable, for
any reasonable legal fees or other reasonable expenses incurred by them in connection with investigating or defending any such
Claim.

 

    - 22 -

     

    

 

(d)
The indemnity provisions contained herein shall be in addition to (i) any cause of action or similar rights of the Indemnified
Party against the Indemnifying Party or others, and (ii) any liabilities the Indemnifying Party may be subject to.

 

ARTICLE
X

MISCELLANEOUS

 

Section
10.1 GOVERNING LAW. This Agreement shall be governed by and interpreted in accordance with the laws of the State of New
York without regard to the principles of conflicts of law (whether of the State of New York or any other jurisdiction).

 

Section
10.2 ARBITRATION. Any disputes, claims, or controversies arising out of or relating to the Transaction Documents, or the
transactions, contemplated thereby, or the breach, termination, enforcement, interpretation or validity thereof, including the
determination of the scope or applicability of this Agreement to arbitrate, shall be referred to and resolved solely and exclusively
by binding arbitration to be conducted before the Judicial Arbitration and Mediation Service (“JAMS” ), or
its successor pursuant the expedited procedures set forth in the JAMS Comprehensive Arbitration Rules and Procedures (the “Rules”
), including Rules 16.1 and 16.2 of those Rules. The arbitration shall be held in New York, New York, before a tribunal consisting
of three (3) arbitrators each of whom will be selected in accordance with the “strike and rank” methodology set forth
in Rule 15. Either party to this Agreement may, without waiving any remedy under this Agreement, seek from any federal or state
court sitting in the State of New York any interim or provisional relief that is necessary to protect the rights or property of
that party, pending the establishment of the arbitral tribunal. The costs and expenses of such arbitration shall be paid by and
be the sole responsibility of the Company, including but not limited to the Investor’s attorneys’ fees and each arbitrator’s
fees. The arbitrators’ decision must set forth a reasoned basis for any award of damages or finding of liability. The arbitrators’
decision and award will be made and delivered as soon as reasonably possibly and in any case within sixty (60) days’ following
the conclusion of the arbitration hearing and shall be final and binding on the parties and may be entered by any court having
jurisdiction thereof.

 

Section
10.3 JURY TRIAL WAIVER. THE COMPANY AND
THE INVESTOR HEREBY WAIVE A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM BROUGHT BY EITHER OF THE PARTIES HERETO AGAINST
THE OTHER IN RESPECT OF ANY MATTER ARISING OUT OF OR IN CONNECTION WITH THE TRANSACTION DOCUMENTS.

 

Section
10.4 ASSIGNMENT. This Agreement shall be binding upon and inure to the benefit of the Company and the Investor and their
respective successors. Neither this Agreement nor any rights of the Investor or the Company hereunder may be assigned by either
party to any other Person.

 

Section
10.5 NO THIRD PARTY BENEFICIARIES. This Agreement is intended for the benefit of the Company and the Investor and their
respective successors, and is not for the benefit of, nor may any provision hereof be enforced by, any other Person, except as
set forth in Article IX.

 

Section
10.6 TERMINATION. The Company may terminate this Agreement at any time by written notice to the Investor, except while
the Investor holds any of the Put Shares. In addition, this Agreement shall automatically terminate on the earlier of (i) the
end of the Commitment Period; (ii) the date that the Company sells and the Investor purchases the Maximum Commitment Amount; or
(iii) the date in which the Registration Statement is no longer effective, or (iv) the date that, pursuant to or within the meaning
of any Bankruptcy Law, the Company commences a voluntary case or any Person commences a proceeding against the Company, a Custodian
is appointed for the Company or for all or substantially all of its property or the Company makes a general assignment for the
benefit of its creditors; provided, however, that the provisions of Articles III, IV, V, VI, IX and the agreements
and covenants of the Company and the Investor set forth in Article X shall survive the termination of this Agreement for
the maximum length of time allowed under applicable law.

 

    - 23 -

     

    

 

Section
10.7 ENTIRE AGREEMENT. The Transaction Documents, together with the exhibits and schedules thereto, contain the entire
understanding of the Company and the Investor with respect to the matters covered herein and therein and supersede all prior agreements
and understandings, oral or written, with respect to such matters, which the parties acknowledge have been merged into such documents,
exhibits and schedules.

 

Section
10.8 FEES AND EXPENSES. Except as expressly set forth in the Transaction Documents or any other writing to the contrary,
each party shall pay the fees and expenses of its advisers, counsel, accountants and other experts, if any, and all other expenses
incurred by such party incident to the negotiation, preparation, execution, delivery and performance of this Agreement. The Company
shall pay all Transfer Agent fees, Investors fees related to the DWAC of Securities, stamp taxes and other taxes and duties levied
in connection with the delivery of any Securities to the Investor. The Investor shall withhold $15,000.00 from the Investment
Amount with respect to the first Put under this Agreement for reimbursement of the Investor’s expenses relating to the preparation
of the Transaction Documents.

 

Section
10.9 COUNTERPARTS. This Agreement may be executed in multiple counterparts, each of which may be executed by less than
all of the parties and shall be deemed to be an original instrument which shall be enforceable against the parties actually executing
such counterparts and all of which together shall constitute one and the same instrument. This Agreement may be delivered to the
other parties hereto by e-mail of a copy of this Agreement bearing the signature of the parties so delivering this Agreement.

 

Section
10.10 SEVERABILITY. In the event that any provision of this Agreement becomes or is declared by a court of competent jurisdiction
to be illegal, unenforceable or void, this Agreement shall continue in full force and effect without said provision; provided
that such severability shall be ineffective if it materially changes the economic benefit of this Agreement to any party.

 

Section
10.11 FURTHER ASSURANCES. Each party shall do and perform, or cause to be done and performed, all such further acts
and things, and shall execute and deliver all such other agreements, certificates, instruments and documents, as the other
party may reasonably request in order to carry out the intent and accomplish the purposes of this Agreement and the
consummation of the transactions contemplated hereby.

 

Section
10.12 NO STRICT CONSTRUCTION. The language used in this Agreement will be deemed to be the language chosen by the parties
to express their mutual intent, and no rules of strict construction will be applied against any party.

 

Section
10.13 EQUITABLE RELIEF. The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable
harm to the Investor by vitiating the intent and purpose of the transaction contemplated hereby. Accordingly, the Company acknowledges
that the remedy at law for a breach of its obligations under this Agreement will be inadequate and agrees, in the event of a breach
or threatened breach by the Company of the provisions of this Agreement, that the Investor shall be entitled, in addition to all
other available remedies at law or in equity, and in addition to the penalties assessable herein, to an injunction or injunctions
restraining, preventing or curing any breach of this Agreement and to enforce specifically the terms and provisions hereof, without
the necessity of showing economic loss and without any bond or other security being required.

 

    - 24 -

     

    

 

Section
10.14 TITLE AND SUBTITLES. The titles and subtitles used in this Agreement are used for the convenience of reference and
are not to be considered in construing or interpreting this Agreement.

 

Section
10.15 AMENDMENTS; WAIVERS. No provision of this Agreement may be amended or waived by the parties from and after the date
that is one (1) Trading Day immediately preceding the initial filing of the Registration Statement with the SEC. Subject to the
immediately preceding sentence, (i) no provision of this Agreement may be amended other than by a written instrument signed by
both parties hereto and (ii) no provision of this Agreement may be waived other than in a written instrument signed by the party
against whom enforcement of such waiver is sought. No failure or delay in the exercise of any power, right or privilege hereunder
shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege preclude other
or further exercise thereof or of any other right, power or privilege.

 

Section
10.16 PUBLICITY. The Company and the Investor shall consult with each other in issuing any press releases or otherwise
making public statements with respect to the transactions contemplated hereby and no party shall issue any such press release
or otherwise make any such public statement, other than as required by law, without the prior written consent of the other parties,
which consent shall not be unreasonably withheld or delayed, except that no prior consent shall be required if such disclosure
is required by law, in which such case the disclosing party shall provide the other party with prior notice of such public statement.
Notwithstanding the foregoing, the Company shall not publicly disclose the name of the Investor without the prior written consent
of the Investor, except to the extent required by law. The Investor acknowledges that this Agreement and all or part of the Transaction
Documents may be deemed to be “material contracts,” as that term is defined by Item 601(b)(10) of Regulation S-K,
and that the Company may therefore be required to file such documents as exhibits to reports or registration statements filed
under the Securities Act or the Exchange Act. The Investor further agrees that the status of such documents and materials as material
contracts shall be determined solely by the Company, in consultation with its counsel.

 

**
Signature Page Follows **

 

    - 25 -

     

    

 

IN
WITNESS WHEREOF, the parties have caused this Agreement to be duly executed by their respective officers thereunto duly authorized
as of the Execution Date.

 

	 	SHARING
    ECONOMY INTERNATIONAL INC.
	 	 	 
	 	By:	              
	 	Name:	Ping
    Kee Lau
	 	Title:	Executive
    Director
	 	 	 
	 	OASIS
    CAPITAL, LLC
	 	 	 
	 	By:	 
	 	Name:	Adam
    Long
	 	Title:	Managing
    Member

 

**
Signature Page to Equity Purchase Agreement **

 

     

     

    

 

EXHIBIT
A

 

FORM OF PUT NOTICE

 

TO:
OASIS CAPITAL, LLC

 

DATE: __________________

 

We
refer to the Equity Purchase Agreement, dated April 5, 2020 (the “Agreement”), entered into by and between
Sharing Economy International Inc. and you. Capitalized terms defined in the Agreement shall, unless otherwise defined
herein, have the same meaning when used herein.

 

We
hereby:

 

	1)	Give you notice that we require you to purchase
    ________ Put Shares; and

 

	2)	The purchase price per share, pursuant to the terms
of the Agreement, is __________; and

 

	3)	Certify that, as of the date hereof, the conditions
set forth in Section 7.2 of the Agreement are satisfied.

 

	 	SHARING
    ECONOMY INTERNATIONAL INC.
	 	 	 
	 	By:	 
	 	Name:	Ping
    Kee Lau
	 	Title:	Executive
    Director

 

     

     

    

 

EXHIBIT
B

 

FORM
OF OFFICER’S CERTIFICATE OF SHARING ECONOMY INTERNATIONAL INC.

 

Pursuant
to Section 7.2(k) of that certain equity purchase agreement, dated April 5, 2020 (the Agreement”), by and
between Sharing Economy International Inc. (the “Company”) and Oasis Capital, LLC (the “Investor”),
the undersigned, in his capacity as Executive Director of the Company, and not in his individual capacity, hereby certifies, as
of the date hereof (such date, the “Condition Satisfaction Date”), the following:

 

1.
The representations and warranties of the Company are true and correct in all material respects as of the Condition Satisfaction
Date as though made on the Condition Satisfaction Date (except for representations and warranties specifically made as of a particular
date) with respect to all periods, and as to all events and circumstances occurring or existing to and including the Condition
Satisfaction Date, except for any conditions which have temporarily caused any representations or warranties of the Company set
forth in the Agreement to be incorrect and which have been corrected with no continuing impairment to the Company or the Investor;
and

 

2.
All of the conditions precedent to the obligation of the Investor to purchase Put Shares set forth in the Agreement, including
but not limited to Section 7.2 of the Agreement, have been satisfied as of the Condition Satisfaction Date.

 

Capitalized
terms used herein shall have the meanings set forth in the Agreement unless otherwise defined herein.

 

IN
WITNESS WHEREOF, the undersigned has hereunto affixed his hand as of April 5, 2020.

 

	 	By:	 
	 	Name:	Ping
    Kee Lau
	 	Title:	Executive
    Director

 

     

     

    

 

EXHIBIT
C

 

FORM
OF TRANSFER AGENT

INSTRUCTION LETTER

 

     

     

    

 

EXHIBIT
D

 

FORM
OF REGISTRATION RIGHTS AGREEMENT

 

     

     

    

 

DISCLOSURE
SCHEDULES

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