Document:

EMPLOYMENT SERVICES AGREEMENT

 

 

This Employment Services
Agreement (the “Agreement”) is entered into as of the 1st day of October 2013 by and between
Competitive Technologies, Inc., a Delaware corporation, with a business address of 1375 Kings Highway East, Fairfield, CT
06824 (the “Company”), and Conrad Mir (“Executive”). 

 

INTRODUCTION

 

WHEREAS, the
Company desires to employ the Executive under the title and capacity set forth on Schedule A hereto and the Executive desires
to be employed by the Company in such capacity, subject to the terms of this Agreement;

 

AGREEMENT

 

NOW, THEREFORE,
in consideration of the premises and mutual promises herein below set forth, the parties hereby agree as follows:

 

1.Employment
Period. The term of the Executive’s employment by the Company pursuant to this Agreement (the “Employment Period”)
shall commence upon the date hereof (the “Effective Date”) and shall continue for that period of calendar months
from the Effective Date set forth on Schedule A hereto. Thereafter, the Employment Period shall be renewed by mutual agreement
unless either party shall have given to the other at least thirty (30) days’ prior written notice of their intention
not to renew the Executive’s employment prior to the end of the Employment Period or the then applicable renewal term, as
the case may be. In any event, the Employment Period may be terminated as provided herein.

 

2.Employment; Duties.

 

(a)General.Subject
to the terms and conditions set forth herein, the Company shall employ the Executive to act for the Company during the Employment
Period in the capacity set forth on Schedule A hereto, and the Executive hereby accepts such employment. The duties and
responsibilities of the Executive shall include such duties and responsibilities appropriate to such office as the Company’s
Board of Directors (the “Board”) may from time to time reasonably assign to the Executive, as initially specified
on Schedule A attached hereto, with such authority and responsibilities, including Company-wide executive, administrative
and finance functions as are normally associated with and appropriate for such position.

 

(b)Executive recognizes
that during the period of Executive's employment hereunder, Executive owes an undivided duty of loyalty to the Company, and Executive
will use Executive's good faith efforts to promote and develop the business of the Company and its subsidiaries (the Company’s
subsidiaries from time to time, together with any other affiliates of the Company, the “Affiliates”). Executive
shall devote all of Executive’s business time, attention and skills to the performance of Executive’s services as an
executive of the Company. Recognizing and acknowledging that it is essential for the protection and enhancement of the name and
business of the Company and the goodwill pertaining thereto, Executive shall perform the Executive’s duties under this Agreement
professionally, in accordance with the applicable laws, rules and regulations and such standards, policies and procedures established
by the Company and the industry from time to time.

 

    	 

    	 

    

 

(c)However, the parties
agree that, subject to Board approval: (i) Executive may devote a reasonable amount of his time to civic, community, or charitable
activities and may serve as a director of other corporations (provided that any such other corporation is not a competitor of the
Company, as determined by the Board) and to other types of business or public activities not expressly mentioned in this paragraph
and (ii) Executive may participate as a non-employee director and/or investor in other companies and projects as described by Executive
to the Board, so long as Executive’s responsibilities with respect thereto do not conflict or interfere with the faithful
performance of his duties to the Company.

 

(d)Place of Employment.
The Executive’s services shall be performed at the Company’s offices located in 1375 Kings Highway East, Fairfield,
Connecticut 06824, and any other locus where the Company now or hereafter has a business facility, and at any other location where
Executive’s presence is necessary to perform his duties at his sole discretion. The parties acknowledge, however, that the
Executive may be required to travel in connection with the performance of her duties hereunder.

 

3.Base Salary.
The Executive shall be entitled to receive a salary from the Company during the Employment Period at a rate per year indicated
on Schedule A hereto (the “Base Salary”). Once the Board has established the Base Salary, such Base Salary
may be increased on each anniversary of the Effective Date, at the Board’s sole discretion.

 

4.Bonus.
(a) The Company shall pay the Executive an annual bonus (the “Annual Bonus”), at such time as may be determined
by the Board in its sole discretion in the amount specified in Schedule A hereto. The Board may or may not determine that
all or any portion of the Annual Bonus shall be earned upon the achievement of operational, financial or other milestones (“Milestones”)
established by the Board in consultation with the Executive and that all or any portion of any Annual Bonus shall be paid in cash,
securities or other property. The Company may pay the Executive an additional bonus (the “Additional Bonus Incentives”),
at such time and amount as specific in Schedule A hereto based on specified milestones (the “Additional Milestones”).

 

(b) The Executive shall be eligible
to participate in any other bonus or incentive program established by the Company for executives of the Company.

 

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 5. Other Benefits

 

(a)Stock Option
Grant.The Executive shall be entitled to receive those stock options under the Company’s Equity Incentive Plan as
specified in Schedule A hereto. Any additional option grants to the Executive shall be at the option of the Board.

 

(b)Insurance and
Other Benefits. During the Employment Period, the Executive and the Executive’s dependents shall be entitled to participate
in the Company’s insurance programs and any ERISA benefit plans, as the same may be adopted and/or amended from time to time
(the “Benefits”). The Executive shall be entitled to paid personal days on a basis consistent with the Company’s
other senior executives, as determined by the Board. The Executive shall be bound by all of the policies and procedures established
by the Company from time to time. However, in case any of those policies conflict with the terms of this Agreement, the terms of
this Agreement shall control.

 

(c)Vacation.
During the Employment Period, the Executive shall be entitled to an annual vacation of at least that number of working days set
forth on Schedule A hereto.

 

(d)Expense Reimbursement.
The Company shall reimburse the Executive for all reasonable business, promotional, travel and entertainment expenses incurred
or paid by the Executive during the Employment Period in the performance of Executive’s services under this
Agreement, provided that the Executive furnishes to the Company appropriate documentation required by the Internal Revenue Code
in a timely fashion in connection with such expenses and shall furnish such other documentation and accounting as the Company may
from time to time reasonably request.

 

6.Termination;
Compensation Due. The Executive's employment hereunder may terminate, and the Executive’s right to compensation
for periods after the date the Executive’s employment with the Company terminates shall be determined, in accordance
with the provisions of paragraphs (a) through (e) below:

 

(a)Voluntary
Resignation; Termination without Cause.

 

(i)
Voluntary Resignation.The Executive may terminate his employment at any time upon thirty (30) days prior written notice
to the Company. In the event of the Executive’s voluntary termination of his employment other than for Good Reason (as defined
below), the Company may be obligated to make payments to the Executive in accordance with the provisions of Sections 0 or 0 above,
and as required by this Agreement or by applicable law.

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(ii)
Termination without Cause. The Company may terminate the Executive’s employment with the Company at any time with
or without cause, by delivery to the Executive of a written notice of termination from the Chairman of the Board of Directors of
the Company.

 

(A)    If
the Executive’s employment is terminated by the Company without Cause, the Company shall (x) continue to pay the Executive
the Base Salary (at the rate in effect on the date the Executive’s employment is terminated) until the end of the Severance
Period (as defined in Section 6(e) below), (y) with respect to the Annual Bonus, to the extent the Milestones are achieved, pay
the Executive a pro rata portion of the Annual Bonus for the year of the Employment Period on the date such Annual Bonus would
have been payable to the Executive had the Executive remained employed by the Company, and (z) pay any other accrued compensation
and Benefits. The Executive shall not have any further rights under this Agreement or otherwise to receive any other compensation
or benefits after such termination of employment.

 

(B)    If,
following a termination of employment without Cause, the Executive breaches the provisions of Sections Error! Reference
source not found., 8 or 9 hereof, the Executive shall not be eligible, as of the date of such breach, for the payments and
benefits described in Section 6 (a)(ii), and any and all obligations and agreements of the Company with respect to such payments
shall thereupon cease.

 

(b)Discharge for
Cause. Upon written notice to the Executive, the Company may terminate the Executive’s employment for “Cause”
if any of the following events shall occur:

 

(i)any
act or omission that constitutes a material breach by the Executive of any of his obligations under this Agreement;

 

(ii)the
willful and continued failure or refusal of the Executive to satisfactorily perform the duties reasonably required of him as an
employee of the Company;

 

(iii)the
Executive’s conviction of, or plea of nolo contendere to, (i) any felony or (ii) a crime involving dishonesty
or moral turpitude or which could reflect negatively upon the Company or otherwise impair or impede its operations;

 

(iv)the
Executive’s engaging in any misconduct, negligence, act of dishonesty (including, without limitation, theft or embezzlement),
violence, threat of violence or any activity that could result in any violation of federal securities laws, in each case, that
is injurious to the Company or any of its Affiliates;

 

(v)the
Executive’s material breach of a written policy of the Company or the rules of any governmental or regulatory body applicable
to the Company;

 

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(vi)the
Executive’s refusal to follow the directions of the Board;

 

(vii)any
other willful misconduct by the Executive which is materially injurious to the financial condition or business reputation of the
Company or any of its Affiliates, or

 

(viii)the
Executive’s breach of his obligations under Section 7, 8 or 9 of this Agreement.

 

In the event the Executive
is terminated for Cause, the Company shall have no obligation to make payments to the Executive in accordance with the provisions
of Sections 0 or 0 above, or, except as otherwise required by law, to provide the benefits described in Section 5 above, for periods
after the Executive's employment with the Company is terminated on account of the Executive's discharge for Cause except for the
then applicable Base Salary accrued through the date of such termination.

 

(c)Disability.
The Company shall have the right, but shall not be obligated to terminate the Executive's employment hereunder in the event
the Executive becomes disabled such that he is unable to discharge his duties to the Company for a period of ninety
(90) consecutive days or one hundred twenty (120) days in any one hundred eighty (180) consecutive day period, provided longer
periods are not required under applicable local labor regulations (a “Permanent Disability”). In the event of
a termination of employment due to a Permanent Disability, the Company shall be obligated to continue to make payments to the Executive
in an amount equal to the then applicable Base Salary for the Severance Period (as defined below) after the Executive’s employment
with the Company is terminated due to a Permanent Disability. A determination of a Permanent Disability shall be made by a physician
satisfactory to both the Executive and the Company; provided, however, that if the Executive and the Company do not
agree on a physician, the Executive and the Company shall each select a physician and those two physicians together shall select
a third physician, whose determination as to a Permanent Disability shall be binding on all parties.

 

(d)Death.
The Executive's employment hereunder shall terminate upon the death of the Executive. The Company shall have no obligation
to make payments to the Executive in accordance with the provisions of Sections 0 or 0 above, or, except as otherwise required
by law or the terms of any applicable benefit plan, to provide the benefits described in Section 5 above, for periods after the
date of the Executive's death except for then applicable Base Salary earned and accrued through the date of death, payable to the
Executive or his successor.

 

(e)Termination
for Good Reason. The Executive may terminate this Agreement at any time for Good Reason. In the event of termination under
this Section 0(e), the Company shall pay to the Executive severance in an amount equal to the then applicable Base Salary for a
period equal to the number of months set forth on Schedule A hereto (the “Severance Period”), subject
to the Executive’s continued compliance with Sections 7, 8 and 9 of this Agreement for the applicable Severance Period following
the Executive’s termination, and subject to the Company’s regular payroll practices and required withholdings. Such
severance shall be reduced by any cash remuneration paid to the Executive because of the Executive’s employment or self-employment
during the Severance Period. The Executive shall continue to receive all Benefits during the Severance Period. The Executive shall
not have any further rights under this Agreement or otherwise to receive any other compensation or benefits after such resignation.
For the purposes of this Agreement, “Good Reason” shall mean any of the following (without Executive’s express
written consent):

 

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(i) the assignment
to the Executive of duties that are significantly different from, and that result in a substantial diminution of, the duties that
he assumed on the Effective Date;

 

(ii) removal
of the Executive from his position as indicated on Schedule A hereto, or the assignment to the Executive of duties
that are significantly different from, and that result in a substantial diminution of, the duties that he assumed under this Agreement,
within twelve (12) months after a Change of Control (as defined below);

 

(iii)
the taking of any action by the Company that would, directly or indirectly, materially reduce the Executive’s benefits, unless
said reductions are pari passu with other senior executives of the Company; or 

 

(iv) a
breach by the Company of any material term of this Agreement that is not cured by the Company within 30 days following receipt
by the Company of written notice thereof.

 

For purposes of this
Agreement, “Change of Control” shall mean the occurrence of any one or more of the following: (i) the accumulation,
whether directly, indirectly, beneficially or of record, by any individual, entity or group (within the meaning of Section 13(d)(3)
or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) of 50% or more of the shares of
the outstanding equity securities of the Company, (ii) a merger or consolidation of the Company in which the Company does
not survive as an independent company or upon the consummation of which the holders of the Company’s outstanding equity securities
prior to such merger or consolidation own less than 50% of the outstanding equity securities of the Company after such merger or
consolidation, or (iii) a sale of all or substantially all of the assets of the Company; provided, however, that the following
acquisitions shall not constitute a Change of Control for the purposes of this Agreement: (A) any acquisitions of common stock
or securities convertible into common stock directly from the Company, or (B) any acquisition of common stock or securities convertible
into common stock by any employee benefit plan (or related trust) sponsored by or maintained by the Company.

 

(f)    Notice
of Termination.    Any termination of employment by the Company or the Executive shall be communicated
by a written “Notice of Termination” to the other party hereto given in accordance with Section 0 of this Agreement.
In the event of a termination by the Company for Cause, the Notice of Termination shall (i) indicate the specific termination
provision in this Agreement relied upon, (ii) set forth in reasonable detail the facts and circumstances claimed to provide
a basis for termination of the Executive’s employment under the provision so indicated and (iii) specify the date of
termination, which date shall be the date of such notice. The failure by the Executive or the Company to set forth in the Notice
of Termination any fact or circumstance which contributes to a showing of Cause shall not waive any right of the Executive or the
Company, respectively, hereunder or preclude the Executive or the Company, respectively, from asserting such fact or circumstance
in enforcing the Executive’s or the Company’s rights hereunder.

 

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(g)    Resignation
from Directorships and Officerships.    The termination of the Executive’s employment for any reason
will constitute the Executive’s resignation from (i) any director, officer or employee position the Executive has with
the Company or any of its Affiliates, and (ii) all fiduciary positions (including as a trustee) the Executive holds with respect
to any employee benefit plans or trusts established by the Company. The Executive agrees that this Agreement shall serve as written
notice of resignation in this circumstance, unless otherwise required by any plan or applicable law.

 

7.Inventions
and Patents. The Executive acknowledges that all inventions, innovations, improvements, know-how, plans, development, methods,
designs, analyses, specifications, software, drawings, reports and all similar or related information (whether or not patentable
or reduced to practice) which related to any of the Company’s actual or proposed business activities and which are created,
designed or conceived, developed or made by the Executive during the Executive’s past or future employment by the Company
or any Affiliates, or any predecessor thereof (“Work Product”), belong to the Company, or its Affiliates, as applicable.
Any copyrightable work falling within the definition of Work Product shall be deemed a “work made for hire” and ownership
of all right title and interest shall rest in the Company. The Executive hereby irrevocably assigns, transfers and conveys, to
the full extent permitted by law, all right, title and interest in the Work Product, on a worldwide basis, to the Company to the
extent ownership of any such rights does not automatically vest in the Company under applicable law. The Executive will promptly
disclose any such Work Product to the Company and perform all actions requested by the Company (whether during or after employment)
to establish and confirm ownership of such Work Product by the Company (including without limitation, assignments, consents, powers
of attorney and other instruments).

 

 8. Confidentiality Covenants.

 

(a)The Executive
understands that the Company and/or its Affiliates, from time to time, may impart to the Executive confidential information, whether
such information is written, oral or graphic.

 

For purposes of
this Agreement, “Confidential Information” means information, which is used in the business of the Company or its Affiliates
and (i) is proprietary to, about or created by the Company or its Affiliates, (ii) gives the Company or its Affiliates
some competitive business advantage or the opportunity of obtaining such advantage or the disclosure of which could be detrimental
to the interests of the Company or its Affiliates, (iii) is designated as Confidential Information by the Company or its Affiliates,
is known by the Executive to be considered confidential by the Company or its Affiliates, or from all the relevant circumstances
should reasonably be assumed by the Executive to be confidential and proprietary to the Company or its Affiliates, or (iv) is
not generally known by non-Company personnel. Such Confidential Information includes, without limitation, the following types of
information and other information of a similar nature (whether or not reduced to writing or designated as confidential):

 

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(i) Internal
personnel and financial information of the Company or its Affiliates, vendor information (including vendor characteristics, services,
prices, lists and agreements), purchasing and internal cost information, internal service and operational manuals, and the manner
and methods of conducting the business of the Company or its Affiliates;

     

(ii) Marketing
and development plans, price and cost data, price and fee amounts, pricing and billing policies, bidding, quoting procedures, marketing
techniques, forecasts and forecast assumptions and volumes, and future plans and potential strategies (including, without limitation,
all information relating to any acquisition prospect and the identity of any key contact within the organization of any acquisition
prospect) of the Company or its Affiliates which have been or are being discussed;

     

(iii) Names
of customers and their representatives, contracts (including their contents and parties), customer services, and the type, quantity,
specifications and content of products and services purchased, leased, licensed or received by customers of the Company or its
Affiliates; and

     

(iv) Confidential
and proprietary information provided to the Company or its Affiliates by any actual or potential customer, government agency or
other third party (including businesses, consultants and other entities and individuals).

 

The Executive hereby
acknowledges the Company’s exclusive ownership of such Confidential Information.

 

(b)The Executive
agrees as follows: (1) only to use the Confidential Information to provide services to the Company and its Affiliates; (2) only
to communicate the Confidential Information to fellow employees, agents and representatives on a need-to-know basis; and (3) not
to otherwise disclose or use any Confidential Information, except as may be required by law or otherwise authorized by the Board.
Upon demand by the Company or upon termination of the Executive’s employment, the Executive will deliver to the Company all
manuals, photographs, recordings and any other instrument or device by which, through which or on which Confidential Information
has been recorded and/or preserved, which are in the Executive’s possession, custody or control.

 

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9.Representation.
The Executive hereby represents that the Executive’s entry into this Employment Agreement and performance of the services
hereunder will not violate the terms or conditions of any other agreement to which the Executive is a party.

 

10.Arbitration.
In the event of any breach arising from the performance of this Agreement, either party may request arbitration. In such event,
the parties will submit to arbitration by a qualified arbitrator with the definition and laws of the State of New York. Such arbitration
shall be final and binding on both parties.

 

11.Governing
Law/Jurisdiction. This Agreement and any disputes or controversies arising hereunder shall be construed and enforced in accordance
with and governed by the internal laws of the State of New York without regard to the conflicts of laws principles thereof.

 

12.Public Company
Obligations. Executive acknowledges that the Company is a public company whose Common Stock has been registered under the US
Securities Act of 1933, as amended (the “Securities Act”), and registered under the Exchange Act, and that this Agreement
may be subject to the public filing requirements of the Exchange Act. Executive acknowledges and agrees that the applicable insider
trading rules, transaction reporting rules, limitations on disclosure of non-public information and other requirements set forth
in the Securities Act, the Exchange Act and rules and regulations promulgated by the SEC may apply to this Agreement and Executive’s
employment with the Company. Executive (on behalf of himself, as well as the Executive’s executors, heirs, administrators
and assigns), absolutely and unconditionally agrees to indemnify and hold harmless the Company and all of its past, present and
future affiliates, executors, heirs, administrators, shareholders, employees, officers, directors, attorneys, accountants, agents,
representatives, predecessors, successors and assigns from any and all claims, debts, demands, accounts, judgments, causes of action,
equitable relief, damages, costs, charges, complaints, obligations, controversies, actions, suits, proceedings, expenses, responsibilities
and liabilities of every kind and character whatsoever (including, but not limited to, reasonable attorneys’ fees and costs)
in the event of Executive’s breach of any obligation of Executive under the Securities Act, the Exchange Act, any rules promulgated
by the SEC and any other applicable federal, state or foreign laws, rules, regulations or orders.

 

13.Entire Agreement.
This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and thereof
and supersedes and cancels (i) any and all previous agreements, written and oral, regarding the subject matter hereof between the
parties hereto. This Agreement shall not be changed, altered, modified or amended, except by a written agreement signed by both
parties hereto.

 

14.Notices.
All notices, requests, demands and other communications called for or contemplated hereunder shall be in writing and shall be deemed
to have been given when delivered to the party to whom addressed or when sent by telecopy (if promptly confirmed by registered
or certified mail, return receipt requested, prepaid and addressed) to the parties, their successors in interest, or their assignees
at the following addresses, or at such other addresses as the parties may designate by written notice in the manner aforesaid:

 

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	(a)	to the Company:
	 	 	 
	 	Competitive Technologies, Inc.
	 	1375 Kings Highway East
	 	Fairfield, Connecticut 06824
	 	Phone:	 (203) 368-6044
	 	Fax: 	(203) 368-5399
	 	Attn: 	Peter Brennan
	 	 	Chairman of the Board of Directors
	 	 	 
	 	with a copy to:
	 	 	 
	 	 	 
	 	Szaferman, Lakind, Blumstein & Blader, P.C.
	 	101 Grovers Mill Road, Second Floor
	 	Lawrenceville, New Jersey 08648
	 	Attn: 	Gregg Jaclin. Esq.
	 	Fax:	 (609) 275-4511
	 	 	 
	 	 	 
	(b)	to the Executive:
	 	 
	 	Address listed
on Schedule A attached hereto.

 

All such notices, requests
and other communications will (i) if delivered personally to the address as provided in this Section, be deemed given upon delivery,
(ii) if delivered by facsimile transmission to the facsimile number as provided for in this Section, be deemed given upon facsimile
confirmation, (iii) if delivered by mail in the manner described above to the address as provided for in this Section, be deemed
given on the earlier of the third business day following mailing or upon receipt and (iv) if delivered by overnight courier to
the address as provided in this Section, be deemed given on the earlier of the first business day following the date sent by such
overnight courier or upon receipt (in each case regardless of whether such notice, request or other communication is received by
any other person to whom a copy of such notice is to be delivered pursuant to this Section). Either party may, by notice given
to the other party in accordance with this Section, designate another address or person for receipt of notices hereunder.

15.Severability.
If any term or provision of this Agreement, or the application thereof to any person or under any circumstance, shall to any extent
be invalid or unenforceable, the remainder of this Agreement, or the application of such terms to the persons or under circumstances
other than those as to which it is invalid or unenforceable, shall be considered severable and shall not be affected thereby, and
each term of this Agreement shall be valid and enforceable to the fullest extent permitted by law. The invalid or unenforceable
provisions shall, to the extent permitted by law, be deemed amended and given such interpretation as to achieve the economic intent
of this Agreement.

 

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16.Waiver.
The failure of any party to insist in any one instance or more upon strict performance of any of the terms and conditions hereof,
or to exercise any right or privilege herein conferred, shall not be construed as a waiver of such terms, conditions, rights or
privileges, but same shall continue to remain in full force and effect. Any waiver by any party of any violation of, breach of
or default under any provision of this Agreement by the other party shall not be construed as, or constitute, a continuing waiver
of such provision, or waiver of any other violation of, breach of or default under any other provision of this Agreement.

 

17.Successors
and Assigns. This Agreement shall be binding upon the Company and any successors and assigns of the Company. Neither this Agreement
nor any right or obligation hereunder may be assigned by the Executive. The Company may assign this Agreement and its right and
obligations hereunder, in whole or in part.

 

18.Counterparts.
This Agreement may be executed in multiple counterparts, each of which shall be deemed an original, and all of which together shall
constitute one and the same instrument.

 

19.Headings.
Headings in this Agreement are for reference purposes only and shall not be deemed to have any substantive effect.

 

20.Opportunity
to Seek Advice. The Executive acknowledges and confirms that he has had the opportunity to seek such legal, financial and other
advice and representation as he has deemed appropriate in connection with this Agreement, that the Executive is fully aware of
its legal effect, and that Executive has entered into it freely based on the Executive’s judgment and not on any representations
or promises other than those contained in this Agreement.

 

21.Withholding
and Payroll Practices. All salary, severance payments, bonuses or benefits payments made by the Company under this Agreement
shall be net of any tax or other amounts required to be withheld by the Company under applicable law and shall be paid in the ordinary
course pursuant to the Company’s then existing payroll practices.

 

IN WITNESS WHEREOF, the parties have executed
this Agreement as of the date first written above.

 

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[The
next page is the signature page]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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EXECUTIVE:

 

 

 

/s/ Conrad Mir

 

Conrad Mir

  

COMPETITIVE TECHNOLOGIES, INC.

  

	 	By:	 /s/ Peter Brennan
	 	 	 
	 	 	 
	 	Name: Peter Brennan
	 	Title: Chairman of the Board of Directors

  

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Schedule A 

 

1.Employment Period:
Eighteen (18) calendar months, renewable by mutual agreement.

 

		2.	Employment: 

 

		a.	Title: President and Chief Executive Officer

 

		b.	Executive Duties: Perform such services and duties as are normally and customarily associated
with the positions of President and Chief Executive Officer as well as such other associated duties as the Company’s Board
of Directors shall reasonably determine. Executive shall devote sufficient time, attention and energies during regular business
hours to effectively perform his duties and obligations hereunder.

 

		3.	Base Salary: $270,000 per year.

 

		4.	Bonus: 100% of the Base Salary, payable semi-annually in Year-One and subject to mutually
agreed upon Milestones. All years thereafter, bonus is paid in cash and on the year-end anniversary date.

 

		5.	Additional Bonus Incentives:

 

		a.	First 90 days: 10% of Base Salary upon achievement of fundraising for bridge capital of
$1,000,000.

 

		b.	Second 90 days: 10% of Base Salary if all second quarter milestones are achieved.

 

		c.	Third 90 days: 30% of Base Salary if secondary funding for investment capital of $2,500,000
additionally is raised.

 

		d.	Fourth 90 days: 10% of the net proceeds to the Company of the sale of bone substitute technology
and wound care.

 

		6.	Initial Stock Option Grant: 1,000,000 options that will vest over a five (5) year period
and priced at the closing on the date of employment, and will be subject to the following leak-out provision:

 

		a.	Leak-out Provision: For a period of twenty four (24) months from October 1, 2013, Holder
shall not sell, transfer, assign, convey, donate, pledge, encumber, alienate, or in any way dispose of (collectively "Sell")
any of the Shares or any portion, right or interest therein, except in compliance with the terms and conditions of the Agreement.
Any purported or attempted transfer or assignment, whether voluntary or involuntary, of any Shares of the Company in violation
of this Agreement shall be null and of no legal effect. Upon registration of the underlying Shares or upon compliance with, preparation,
filing and clearing of appropriate documents required under Rule 144, on the first date of each month thereafter until the date
of termination of this Agreement, Holder shall be permitted to sell the greater of (i) 20,000 shares per day or (i) that number
of shares calculated by the total of 5% of the prior days trading volume (i.e., if the prior days trading volume is 300,000 shares,
then the Holder shall be entitled to sell 15,000 shares on that day). Holder acknowledges that no sales may occur at a posted bid
price on the stock.

 

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		7.	Vacation: Five (5) weeks.

 

		8.	Severance Period: Four (4) months, applicable upon completion of bridge financing or secondary
funding; and after a year of employment

 

9.Executive
Contact Information: Conrad Mir, 19 New Brier Lane, Clifton, NJ 07012

 

    	15Exhibit 4.2

 

THE REGISTERED HOLDER OF THIS PURCHASE WARRANT BY ITS ACCEPTANCE
HEREOF AGREES THAT IT WILL NOT SELL, TRANSFER OR ASSIGN THIS PURCHASE WARRANT EXCEPT AS HEREIN PROVIDED AND THE REGISTERED HOLDER
OF THIS PURCHASE WARRANT AGREES THAT IT WILL NOT SELL, TRANSFER, ASSIGN, PLEDGE OR HYPOTHECATE THIS PURCHASE WARRANT FOR A PERIOD
OF ONE HUNDRED EIGHTY DAYS FOLLOWING THE EFFECTIVE DATE (DEFINED BELOW) TO ANYONE OTHER THAN BREAN CAPITAL, LLC, SUMMER STREET
RESEARCH PARTNERS OR AN UNDERWRITER OR A SELECTED DEALER IN CONNECTION WITH THE OFFERING, OR AS OTHERWISE PROVIDED HEREIN.

 

THIS PURCHASE WARRANT IS NOT EXERCISABLE PRIOR TO [                    ]
[DATE THAT IS ONE YEAR FROM THE EFFECTIVE DATE OF THE REGISTRATION STATEMENT RELATED TO THIS OFFERING]. VOID AFTER 5:00
P.M., EASTERN TIME, [                    ]
[DATE THAT IS FIVE YEARS FROM THE EFFECTIVE DATE OF THE REGISTRATION STATEMENT RELATED TO THIS OFFERING].

 

COMMON STOCK PURCHASE WARRANT 

 

For the Purchase of [                ]
Shares of Common Stock

of

MICROLIN BIO, INC.

 

1. Purchase Warrant. THIS CERTIFIES THAT, in consideration
of funds duly paid by or on behalf of [Brean Capital, LLC [OR] Summer Street Research Partners] (“Holder”),
as registered owner of this warrant (a “Purchase Warrant”), to MicroLin Bio, Inc., a Delaware corporation (the
“Company”), Holder is entitled, at any time or from time to time from [                    ]
[DATE THAT IS THE EFFECTIVE DATE OF THE REGISTRATION STATEMENT RELATED TO THIS OFFERING] (the “Commencement Date”),
and until at or before 5:00 p.m., Eastern time, [                    ]
[DATE THAT IS FIVE YEARS FROM THE EFFECTIVE DATE OF THE REGISTRATION STATEMENT RELATED TO THIS OFFERING] (the “Expiration Date”),
but not thereafter, to subscribe for, purchase and receive, in whole or in part, up to [                    ]
shares [5% of shares sold in the Offering (excluding overallotment)]of common stock of the Company, par value $0.000001
per share (the “Shares”), subject to adjustment as provided in Section 6 hereof. If the Expiration Date
is a day on which banking institutions are authorized by law to close, then this Purchase Warrant may be exercised on the next
succeeding day which is not such a day in accordance with the terms herein. During the period ending on the Expiration Date, the
Company agrees not to take any action that would terminate this Purchase Warrant. This Purchase Warrant is initially exercisable
at $[        ] per Share [120% of the price of the Company’s common stock sold
in the Offering]; provided, however, that upon the occurrence of any of the events specified in Section 6
hereof, the rights granted by this Purchase Warrant, including the exercise price per Share and the number of Shares to be received
upon such exercise, shall be adjusted as therein specified. The term “Exercise Price” shall mean the initial
exercise price or the adjusted exercise price, depending on the context. The term “Effective Date” shall mean
[                    ], the
date on which the Registration Statement on Form S-1 (File No. 333-193315) of the Company was declared effective by the Securities
and Exchange Commission.

 

2. Exercise.

2.1 Exercise Form.
In order to exercise this Purchase Warrant, a duly executed facsimile copy of the exercise form attached hereto (“Notice
of Exercise”) must be duly executed and completed and delivered to the Company (or such other office or agency of the
Company as it may designate by notice in writing to the registered Holder at the address of the Holder appearing on the books of
the Company). If the subscription rights represented hereby shall not be exercised at or before 5:00 p.m., Eastern time, on the
Expiration Date, this Purchase Warrant shall become and be void without further force or effect, and all rights represented hereby
shall cease and expire. Within three (3) trading days following the date of exercise as aforesaid, the Holder shall deliver payment
of the Exercise Price for the Shares being purchased payable in cash by wire transfer of immediately available funds to an account
designated by the Company or by certified check or official bank check unless the cashless exercise procedure specified in Section
2.2 below is specified in the applicable Notice of Exercise. Notwithstanding anything herein to the contrary, the Holder shall
not be required to physically surrender this Purchase Warrant to the Company until the Holder has purchased all of the Shares available
hereunder and the Purchase Warrant has been exercised in full, in which case, the Holder shall surrender this Purchase Warrant
to the Company for cancellation within three (3) trading days of the date the final Notice of Exercise is delivered to the Company.
Partial exercises of this Purchase Warrant resulting in purchases of a portion of the total number of Shares available hereunder
shall have the effect of lowering the outstanding number of Shares purchasable hereunder in an amount equal to the applicable number
of Shares purchased.  The Holder and the Company shall maintain records showing the number of Shares purchased and the
date of such purchases. The Company shall deliver any objection to any Notice of Exercise attached hereto within one (1) Business
Day of receipt of such notice.  The Holder and any assignee, by acceptance of this Purchase Warrant, acknowledge and
agree that, by reason of the provisions of this paragraph, following the purchase of a portion of the Shares hereunder, the number
of Shares available for purchase hereunder at any given time may be less than the amount stated on the face hereof.

 

    	 

    	 

    

 

2.2 Cashless Exercise.  This
Purchase Warrant may also be exercised, in whole or in part, at any time by means of a “cashless exercise” in which
the Holder may elect to receive the number of Shares equal to the value of this Purchase Warrant (or the portion thereof being
exercised), by surrender of this Purchase Warrant to the Company, together with the Notice of Exercise attached hereto, in which
event the Company shall issue to Holder Shares in accordance with the following formula:

	 	 	 	 	 	 	 
	X     =	 	
        Y(A-B)
	 	 
	 	A	 	 
	 	 	 	 	 	 	 
	Where,	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	X	 	=	 	The number of Shares to be issued to Holder;
	 	 	 	 	 	 	 
	 	 	Y	 	=	 	The number of Shares for which the Purchase Warrant is being exercised;
	 	 	 	 	 	 	 
	 	 	A	 	=	 	The fair market value of one Share; and
	 	 	 	 	 	 	 
	 	 	B	 	=	 	The Exercise Price.

 

For purposes of this Section 2.2,
the fair market value of a Share is defined as follows:

 

	(i)	if the Company’s common stock is traded on a securities exchange, the value shall be deemed to be the closing price on such exchange on the date immediately prior to the date of the Notice of Exercise being submitted in connection with the exercise of the Purchase Warrant; or 

 

	(ii)	if the Company’s common stock is actively traded over-the-counter, the value shall be deemed to be the closing bid price on the date immediately prior to the date of the Notice of Exercise being submitted in connection with the exercise of the Purchase Warrant; if there is no active public market, the value shall be the fair market value thereof, as determined in good faith by the Company’s Board of Directors. 

 

2.3 Legend. Each certificate representing
Shares shall bear a legend as follows unless such securities have been registered under the Securities Act of 1933, as amended
(the “Securities Act”):

 

“The securities represented by this
certificate have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or
applicable state law. Neither the securities nor any interest therein may be offered for sale, sold or otherwise transferred except
pursuant to an effective registration statement under the Securities Act, or pursuant to an exemption from registration under the
Securities Act and applicable state law which, in the opinion of counsel to the Company, is available.”

 

    	 

    	 

    

 

2.4 Mechanics. Delivery of Certificates
Upon Exercise.  Certificates for shares purchased hereunder shall be transmitted by the transfer agent to the Holder
by crediting the account of the Holder’s prime broker with The Depository Trust Company through its Deposit or Withdrawal
at Custodian system (“DWAC”) if the Company is then a participant in such system and either (A) there is an
effective registration statement permitting the issuance of the Shares to or resale of the Shares by Holder or (B) this Purchase
Warrant is being exercised via cashless exercise, and otherwise by physical delivery to the address specified by the Holder in
the Notice of Exercise by the date that is three (3) trading days after the latest of (A) the delivery to the Company of the Notice
of Exercise, (B) surrender of this Purchase Warrant (if required) and (C) payment of the aggregate Exercise Price as set forth
above (including by cashless exercise) (such date, the “Warrant Share Delivery Date”).   The
Shares shall be deemed to have been issued, and Holder or any other person so designated to be named therein shall be deemed to
have become a holder of record of such shares for all purposes, as of the date the Purchase Warrant has been exercised, with payment
to the Company of the Exercise Price (or by cashless exercise) and all taxes required to be paid by the Holder, if any, prior to
the issuance of such shares, having been paid. If the Company fails for any reason to deliver to the Holder certificates evidencing
the Shares subject to a Notice of Exercise by the Warrant Share Delivery Date, the Company shall pay to the Holder, in cash, as
liquidated damages and not as a penalty, for each $1,000 of Shares subject to such exercise (based on the fair market value of
the Common Stock on the date of the applicable Notice of Exercise), $10 per trading day (increasing to $20 per Trading Day on the
fifth trading day after such liquidated damages begin to accrue) for each trading day after such Warrant Share Delivery Date until
such certificates are delivered or Holder rescinds such exercise. If the Company fails to cause the transfer agent to transmit
to the Holder a certificate or the certificates representing the Shares pursuant to this section by the Warrant Share Delivery
Date, then the Holder will have the right to rescind such exercise.

 

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

 

2.6 Charges, Taxes
and Expenses.  Issuance of certificates for Shares shall be made without charge to the Holder for any issue or transfer
tax or other incidental expense in respect of the issuance of such certificate, all of which taxes and expenses shall be paid by
the Company, and such certificates shall be issued in the name of the Holder or in such name or names as may be directed by the
Holder; provided, however, that in the event certificates for Shares are to be issued in a name other than the name
of the Holder, this Purchase Warrant when surrendered for exercise shall be accompanied by the Assignment Form attached hereto
duly executed by the Holder and the Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it
for any transfer tax incidental thereto.  The Company shall pay all transfer Agent fees required for same-day processing
of any Notice of Exercise.

 

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

 

3. Transfer.

 

3.1 General Restrictions on Transfer
of Purchase Warrant. The Holder of this Purchase Warrant agrees by his, her or its acceptance hereof, that such Holder will
not: (a) sell, transfer, assign, pledge or hypothecate this Purchase Warrant for a period of one hundred eighty (180) days
following the Effective Date to anyone other than: (i) Brean Capital, LLC (“Brean”), Summer Street Research
Partners (“SSRP”) or an underwriter or a selected dealer participating in the offering, or (ii) a bona
fide employee, officer, director, affiliate or designee of Brean, SSRP or of any such underwriter or selected dealer, or (b) cause
this Purchase Warrant or the Shares to be the subject of any hedging, short sale, derivative, put or call transaction that would
result in the effective economic disposition of this Purchase Warrant or the Shares, in the case of both (a) and (b) in
accordance with FINRA Rule 5110(g)(1), except as provided for in FINRA Rule 5110(g)(2). On and after 180 days after the Effective
Date, transfers of this Purchase Warrant to others may be made subject to compliance with or exemptions from applicable securities
laws. In order to make any permitted assignment of this Purchase Warrant, the Holder must deliver to the Company the assignment
form attached hereto duly executed and completed, together with the Purchase Warrant and payment of all transfer taxes, if any,
payable in connection therewith. The Company shall within three (3) business days transfer this Purchase Warrant on the books
of the Company and shall execute and deliver a new Purchase Warrant or Purchase Warrants of like tenor to the appropriate assignee(s)
expressly evidencing the right to purchase the aggregate number of Shares purchasable hereunder or such portion of such number
as shall be contemplated by any such assignment.

 

    	 

    	 

    

 

3.2 Restrictions Imposed by the Securities
Act. The securities evidenced by this Purchase Warrant shall not be transferred unless and until: (i) the Company has
received the opinion of counsel for the Holder that the securities may be transferred pursuant to an exemption from registration
under the Securities Act and applicable state securities laws, the availability of which is established to the reasonable satisfaction
of the Company, or (ii) a registration statement or a post-effective amendment to the Registration Statement relating to the
offer and sale of such securities has been filed by the Company and declared effective by the U.S. Securities and Exchange Commission
(the “Commission”) and compliance with applicable state securities law has been established.

 

4. Registration Rights.

 

4.1 “Piggy-Back” Registration.

 

4.1.1 Grant of Right. The Holder
shall have the right, for a period of five (5) years following the Effective Date, to include the Shares underlying the Purchase
Warrants (collectively, the “Registrable Securities”) as part of any other registration of securities filed
by the Company (other than in connection with a transaction contemplated by Rule 145(a) promulgated under the Securities Act or
pursuant to Form S-8 or any equivalent form); provided, however, that if, solely in connection with any primary underwritten
public offering for the account of the Company, the managing underwriter(s) thereof shall, in its reasonable discretion, impose
a limitation on the number of shares of common stock which may be included in the Registration Statement because, in such underwriter(s)’
judgment, marketing or other factors dictate such limitation is necessary to facilitate public distribution, then the Company shall
be obligated to include in such Registration Statement only such limited portion of the Registrable Securities with respect to
which the Holder requested inclusion hereunder as the underwriter shall reasonably permit. Any exclusion of Registrable Securities
shall be made pro rata among the Holder(s) seeking to include Registrable Securities in proportion to the number of Registrable
Securities sought to be included by such Holder(s); provided, however, that the Company shall not exclude any Registrable
Securities unless the Company has first excluded all outstanding securities, the holders of which are not entitled to inclusion
of such securities in such Registration Statement or are not entitled to pro rata inclusion with the Registrable Securities.

 

4.1.2 Terms. The Company shall
bear all fees and expenses attendant to registering the Registrable Securities pursuant to Section 4.1.1 hereof, but the Holder(s)
shall pay any and all underwriting commissions and the expenses of any legal counsel selected by the Holder(s) to represent them
in connection with the sale of the Registrable Securities. In the event of such a proposed registration, the Company shall furnish
the then Holder(s) of outstanding Registrable Securities with not less than thirty (30) days written notice prior to the proposed
date of filing of such registration statement. Such notice to the Holder(s) shall continue to be given for each registration statement
filed by the Company until such time as all of the Registrable Securities have been sold by the Holder. The holders of the Registrable
Securities shall exercise the “piggy-back” rights provided for herein by giving written notice within ten (10) days
of the receipt of the Company’s notice of its intention to file a registration statement. Except as otherwise provided in
this Purchase Warrant, there shall be no limit on the number of times the Holder may request registration under this Section 4.1.2;
provided, however, that such “piggy-back” registration rights shall terminate on the fifth anniversary
of the Effective Date in accordance with FINRA Rule 5110(f)(2)(H)(v).

 

4.2 General Terms.

 

4.2.1 Indemnification. The Company
shall indemnify the Holder(s) of the Registrable Securities to be sold pursuant to any registration statement hereunder and each
person, if any, who controls such Holder(s) within the meaning of Section 15 of the Securities Act or Section 20 (a) of
the Securities Exchange Act of 1934, as amended (“Exchange Act”), against all loss, claim, damage, expense or
liability (including all reasonable attorneys’ fees and other expenses reasonably incurred in investigating, preparing or
defending against any claim whatsoever) to which any of them may become subject under the Securities Act, the Exchange Act or otherwise,
arising from such registration statement but only to the same extent and with the same effect as the provisions pursuant to which
the Company has agreed to indemnify the Underwriters under Section 5.1 of the Underwriting Agreement between Brean, SSRP (as
Representatives of the several Underwriters named on Schedule 1 attached thereto) and the Company, dated as of [            ],
2014 (the “Underwriting Agreement”). The Holder(s) of the Registrable Securities to be sold pursuant to such
registration statement, and their successors and assigns, shall severally, and not jointly, indemnify the Company against all loss,
claim, damage, expense or liability (including all reasonable attorneys’ fees and other expenses reasonably incurred in investigating,
preparing or defending against any claim whatsoever) to which they may become subject under the Securities Act, the Exchange Act
or otherwise, arising from information furnished by or on behalf of such Holder(s), or their successors or assigns, in writing,
for specific inclusion in such registration statement to the same extent and with the same effect as the provisions contained in
Section 5.2 of the Underwriting Agreement pursuant to which the Underwriters have agreed to indemnify the Company.

 

    	 

    	 

    

 

4.2.2 Exercise of Purchase Warrants.
Nothing contained in this Purchase Warrant shall be construed as requiring the Holder(s) to exercise their Purchase Warrants prior
to or after the initial filing of any registration statement or the effectiveness thereof.

 

4.2.3 Documents Delivered to Holder(s).
The Company shall deliver promptly to each Holder participating in the offering requesting the correspondence and memoranda described
below and to the managing underwriter, if any, copies of all correspondence between the Commission and the Company, its counsel
or auditors and all memoranda relating to discussions with the Commission or its staff with respect to the registration statement
and permit each Holder and underwriter to do such investigation, upon reasonable advance notice, with respect to information contained
in or omitted from the registration statement as it deems reasonably necessary to comply with applicable securities laws or rules
of FINRA. Such investigation shall include access to books, records and properties and opportunities to discuss the business of
the Company with its officers and independent auditors, all to such reasonable extent and at such reasonable times as any such
Holder shall reasonably request.

 

4.2.4 Underwriting Agreement. The
Company shall enter into an underwriting agreement with the managing underwriter(s), if any, selected by any Holder(s) whose Registrable
Securities are being registered pursuant to this Section 4, which managing underwriter(s) shall be reasonably satisfactory
to the Company. Such agreement shall be reasonably satisfactory in form and substance to the Company, each Holder and such managing
underwriter(s), and shall contain such representations, warranties and covenants by the Company and such other terms as are customarily
contained in agreements of that type used by the managing underwriter(s). The Holder(s) shall be parties to any underwriting agreement
relating to an underwritten sale of their Registrable Securities and may, at their option, require that any or all the representations,
warranties and covenants of the Company to or for the benefit of such underwriters shall also be made to and for the benefit of
such Holder(s). Such Holder(s) shall not be required to make any representations or warranties to or agreements with the Company
or the underwriters except as they may relate to such Holder(s), their Shares and their intended methods of distribution.

 

4.2.5 Documents to be Delivered by
Holder(s). Each of the Holder(s) participating in any of the foregoing offerings shall furnish to the Company a completed and
executed questionnaire provided by the Company requesting information customarily sought of selling security holders.

 

4.2.6 Damages. Should the registration
or the effectiveness thereof required by Section 4.1 hereof be delayed by the Company or the Company otherwise fails to comply
with such provisions, the Holder(s) shall, in addition to any other legal or other relief available to the Holder(s), be entitled
to obtain specific performance or other equitable (including injunctive) relief against the threatened breach of such provisions
or the continuation of any such breach, without the necessity of proving actual damages and without the necessity of posting bond
or other security.

 

5. New Purchase Warrants to be Issued.

 

5.1 Partial Exercise or Transfer.
Subject to the restrictions in Section 3 hereof, this Purchase Warrant may be exercised or assigned in whole or in part. In
the event of the exercise or assignment hereof in part only, upon surrender of this Purchase Warrant for cancellation, together
with the duly executed exercise or assignment form and funds sufficient to pay any Exercise Price and/or transfer tax if exercised
pursuant to Section 2.1 hereto, the Company shall cause to be delivered to the Holder without charge a new Purchase Warrant
of like tenor to this Purchase Warrant in the name of the Holder evidencing the right of the Holder to purchase the number of Shares
purchasable hereunder as to which this Purchase Warrant has not been exercised or assigned.

 

5.2 Lost Certificate. Upon receipt
by the Company of evidence satisfactory to it of the loss, theft, destruction or mutilation of this Purchase Warrant and of reasonably
satisfactory indemnification or the posting of a bond, the Company shall execute and deliver a new Purchase Warrant of like tenor
and date. Any such new Purchase Warrant executed and delivered as a result of such loss, theft, mutilation or destruction shall
constitute a substitute contractual obligation on the part of the Company.

 

    	 

    	 

    

 

6. Adjustments.

 

6.1 Adjustments to Exercise Price and
Number of Securities. The Exercise Price and the number of Shares underlying the Purchase Warrant shall be subject to adjustment
from time to time as hereinafter set forth:

 

6.1.1 Share Dividends; Split Ups.
If, after the date hereof, and subject to the provisions of Section 6.3 below, the number of outstanding shares of the Company’s
common stock is increased by a stock dividend payable in shares of the Company’s common stock or by a split up of shares
of the Company’s common stock or other similar event, then, on the effective day thereof, the number of Shares purchasable
hereunder shall be increased in proportion to such increase in outstanding shares of the Company’s common stock, and the
Exercise Price shall be proportionately decreased.

 

6.1.2 Aggregation of Shares. If,
after the date hereof, and subject to the provisions of Section 6.3 below, the number of outstanding shares of the Company’s
common stock is decreased by a consolidation, combination or reclassification of shares of the Company’s common stock or
other similar event, then, on the effective date thereof, the number of Shares purchasable hereunder shall be decreased in proportion
to such decrease in outstanding shares of the Company’s common stock, and the Exercise Price shall be proportionately increased.

 

6.1.3 Replacement of Securities upon
Reorganization, etc. In case of any reclassification or reorganization of the outstanding shares of the Company’s common
stock other than a change covered by Section 6.1.1 or 6.1.2 hereof or that solely affects the par value of such shares, or
in the case of any share reconstruction or amalgamation or consolidation of the Company with or into another corporation (other
than a consolidation or share reconstruction or amalgamation in which the Company is the continuing corporation and that does not
result in any reclassification or reorganization of the outstanding shares of the Company’s common stock), or in the case
of any sale or conveyance to another corporation or entity of the property of the Company as an entirety or substantially as an
entirety in connection with which the Company is dissolved, the Holder of this Purchase Warrant shall have the right thereafter
(until the expiration of the right of exercise of this Purchase Warrant) to receive upon the exercise hereof, for the same aggregate
Exercise Price payable hereunder immediately prior to such event, the kind and amount of shares of stock or other securities or
property (including cash) receivable upon such reclassification, reorganization, share reconstruction or amalgamation, or consolidation,
or upon a dissolution following any such sale or transfer, by a Holder of the number of shares of the Company’s common stock
of the Company obtainable upon exercise of this Purchase Warrant immediately prior to such event; and if any reclassification also
results in a change in shares of the Company’s common stock covered by Section 6.1.1 or 6.1.2, then such adjustment
shall be made pursuant to Sections 6.1.1, 6.1.2 and this Section 6.1.3. The provisions of this Section 6.1.3 shall similarly
apply to successive reclassifications, reorganizations, share reconstructions or amalgamations, or consolidations, sales or other
transfers.

 

6.1.4 Subsequent Rights Offerings.  In
addition to any adjustments pursuant to the other subsections of this Section, if at any time the Company grants, issues or sells
any Common Stock equivalents or rights to purchase stock, warrants, securities or other property pro rata to the record holders
of any class of shares of Common Stock (the “Purchase Rights”), then the Holder will be entitled to acquire,
upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired if the Holder
had held the number of shares of Common Stock acquirable upon complete exercise of this Purchase Warrant (without regard to any
limitations on exercise hereof) immediately before the date on which a record is taken for the grant, issuance or sale of such
Purchase Rights, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined
for the grant, issue or sale of such Purchase Rights.

 

6.1.5 Pro Rata Distributions.  If
the Company, at any time while this Purchase Warrant is outstanding, shall distribute to all holders of Common Stock (and not to
the Holder) evidences of its indebtedness or assets (including cash and cash dividends) or rights or warrants to subscribe for
or purchase any security other than the Common Stock (which shall be subject to Section 6.1.4), then in each such case the Exercise
Price shall be adjusted by multiplying the Exercise Price in effect immediately prior to the record date fixed for determination
of stockholders entitled to receive such distribution by a fraction of which the denominator shall be the fair market value determined
as of the record date mentioned above, and of which the numerator shall be such fair market value on such record date less the
then per share fair market value at such record date of the portion of such assets or evidence of indebtedness so distributed applicable
to one outstanding share of the Common Stock as determined by the Board of Directors in good faith.  In either case the
adjustments shall be described in a statement provided to the Holder of the portion of assets or evidences of indebtedness so distributed
or such subscription rights applicable to one share of Common Stock.  Such adjustment shall be made whenever any such
distribution is made and shall become effective immediately after the record date mentioned above.

 

    	 

    	 

    

 

6.1.6 Fundamental Transaction.
If, at any time while this Purchase Warrant is outstanding, (i) the Company, directly or indirectly, in one or more related transactions
effects any merger or consolidation of the Company with or into another Person, (ii) the Company, directly or indirectly, effects
any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially all of its assets in one
or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange offer (whether by
the Company or another Person) is completed pursuant to which holders of Common Stock are permitted to sell, tender or exchange
their shares for other securities, cash or property and has been accepted by the holders of 50% or more of the outstanding Common
Stock, (iv) the Company, directly or indirectly, in one or more related transactions effects any reclassification, reorganization
or recapitalization of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted
into or exchanged for other securities, cash or property, or (v) the Company, directly or indirectly, in one or more related transactions
consummates a stock or share purchase agreement or other business combination (including, without limitation, a reorganization,
recapitalization, spin-off or scheme of arrangement) with another Person or group of Persons whereby such other Person or group
acquires more than 50% of the outstanding shares of Common Stock (not including any shares of Common Stock held by the other Person
or other Persons making or party to, or associated or affiliated with the other Persons making or party to, such stock or share
purchase agreement or other business combination) (each a “Fundamental Transaction”), then, upon any subsequent
exercise of this Purchase Warrant, the Holder shall have the right to receive, for each Share that would have been issuable upon
such exercise immediately prior to the occurrence of such Fundamental Transaction, at the option of the Holder, the number of shares
of Common Stock of the successor or acquiring corporation or of the Company, if it is the surviving corporation, and any additional
consideration (the “Alternate Consideration”) receivable as a result of such Fundamental Transaction by a holder
of the number of shares of Common Stock for which this Purchase Warrant is exercisable immediately prior to such Fundamental Transaction.  For
purposes of any such exercise, the determination of the Exercise Price shall be appropriately adjusted to apply to such Alternate
Consideration based on the amount of Alternate Consideration issuable in respect of one share of Common Stock in such Fundamental
Transaction, and the Company shall apportion the Exercise Price among the Alternate Consideration in a reasonable manner reflecting
the relative value of any different components of the Alternate Consideration.  If holders of Common Stock are given
any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the Holder shall be given the
same choice as to the Alternate Consideration it receives upon any exercise of this Purchase Warrant following such Fundamental
Transaction.  Notwithstanding anything to the contrary, in the event of a Fundamental Transaction that is (1) an all
cash transaction, (2) a “Rule 13e-3 transaction” as defined in Rule 13e-3 under the Exchange Act, or (3) a Fundamental
Transaction involving a person or entity not traded on a national securities exchange, including, but not limited to, the Nasdaq
Global Select Market, the Nasdaq Global Market, or the Nasdaq Capital Market, the Company or any Successor Entity (as defined below)
shall, at the Holder’s option, exercisable at any time concurrently with, or within 30 days after, the consummation of the
Fundamental Transaction, purchase this Purchase Warrant from the Holder by paying to the Holder an amount of cash equal to the
Black Scholes Value of the remaining unexercised portion of this Purchase Warrant on the date of the consummation of such Fundamental
Transaction.  “Black Scholes Value” means the value of this Purchase Warrant based on the Black and
Scholes Option Pricing Model obtained from the “OV” function on Bloomberg, L.P. (“Bloomberg”) determined
as of the day of consummation of the applicable Fundamental Transaction for pricing purposes and reflecting (A) a risk-free interest
rate corresponding to the U.S. Treasury rate for a period equal to the time between the date of the public announcement of the
applicable Fundamental Transaction and the Termination Date, (B) an expected volatility equal to the greater of 100% and the 100
day volatility obtained from the HVT function on Bloomberg as of the Trading Day immediately following the public announcement
of the applicable Fundamental Transaction, (C) the underlying price per share used in such calculation shall be the sum of the
price per share being offered in cash, if any, plus the value of any non-cash consideration, if any, being offered in such Fundamental
Transaction and (D) a remaining option time equal to the time between the date of the public announcement of the applicable Fundamental
Transaction and the Termination Date.  The Company shall cause any successor entity in a Fundamental Transaction in which
the Company is not the survivor (the “Successor Entity”) to assume in writing all of the obligations of the
Company under this Purchase Warrant and the other Transaction Documents in accordance with the provisions of this Section 3(e)
pursuant to written agreements in form and substance reasonably satisfactory to the Holder and approved by the Holder (without
unreasonable delay) prior to such Fundamental Transaction and shall, at the option of the Holder, deliver to the Holder in exchange
for this Purchase Warrant a security of the Successor Entity evidenced by a written instrument substantially similar in form and
substance to this Purchase Warrant which is exercisable for a corresponding number of shares of capital stock of such Successor
Entity (or its parent entity) equivalent to the shares of Common Stock acquirable and receivable upon exercise of this Purchase
Warrant prior to such Fundamental Transaction, and with an exercise price which applies the exercise price hereunder to such shares
of capital stock (but taking into account the relative value of the shares of Common Stock pursuant to such Fundamental Transaction
and the value of such shares of capital stock, such number of shares of capital stock and such exercise price being for the purpose
of protecting the economic value of this Purchase Warrant immediately prior to the consummation of such Fundamental Transaction),
and which is reasonably satisfactory in form and substance to the Holder. Upon the occurrence of any such Fundamental Transaction,
the Successor Entity shall succeed to, and be substituted for (so that from and after the date of such Fundamental Transaction,
the provisions of this Purchase Warrant referring to the “Company” shall refer instead to the Successor Entity), and
may exercise every right and power of the Company and shall assume all of the obligations of the Company under this Purchase Warrant
with the same effect as if such Successor Entity had been named as the Company herein.

 

    	 

    	 

    

 

6.1.7 Changes in Form of Purchase Warrant.
This form of Purchase Warrant need not be changed because of any change pursuant to this Section 6.1, and Purchase Warrants
issued after such change may state the same Exercise Price and the same number of Shares as are stated in the Purchase Warrants
initially issued pursuant to this Agreement. The acceptance by any Holder of the issuance of new Purchase Warrants reflecting a
required or permissive change shall not be deemed to waive any rights to an adjustment occurring after the Commencement Date or
the computation thereof.

 

6.1.8 Calculations. All calculations
under this Section 6 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be. For purposes of this
Section 6, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall be the sum of the
number of shares of Common Stock (excluding treasury shares, if any) issued and outstanding.

 

6.2 Substitute Purchase Warrant.
In case of any consolidation of the Company with, or share reconstruction or amalgamation of the Company with or into, another
corporation (other than a consolidation or share reconstruction or amalgamation which does not result in any reclassification or
change of the outstanding shares of the Company’s common stock), the corporation formed by such consolidation or share reconstruction
or amalgamation shall execute and deliver to the Holder a supplemental Purchase Warrant providing that the holder of each Purchase
Warrant then outstanding or to be outstanding shall have the right thereafter (until the stated expiration of such Purchase Warrant)
to receive, upon exercise of such Purchase Warrant, the kind and amount of shares of stock and other securities and property receivable
upon such consolidation or share reconstruction or amalgamation, by a holder of the number of shares of the Company’s common
stock for which such Purchase Warrant might have been exercised immediately prior to such consolidation, share reconstruction or
amalgamation, sale or transfer. Such supplemental Purchase Warrant shall provide for adjustments which shall be identical to the
adjustments provided for in this Section 6. The above provision of this Section shall similarly apply to successive consolidations
or share reconstructions or amalgamations.

 

6.3 Elimination of Fractional Interests.
The Company shall not be required to issue certificates representing fractions of Shares upon the exercise of the Purchase Warrant,
nor shall it be required to issue scrip or pay cash in lieu of any fractional interests, it being the intent of the parties that
all fractional interests shall be eliminated by rounding any fraction up or down, as the case may be, to the nearest whole number
of Shares or other securities, properties or rights.

 

7. Reservation and Listing. The Company shall at all
times reserve and keep available out of its shares of authorized capital stock, solely for the purpose of issuance upon exercise
of the Purchase Warrants, such number of Shares or other securities, properties or rights as shall be issuable upon the exercise
thereof. The Company covenants and agrees that, upon exercise of the Purchase Warrants and payment of the Exercise Price therefor,
in accordance with the terms hereby, all Shares and other securities issuable upon such exercise shall be duly and validly issued,
fully paid and non-assessable and not subject to preemptive rights of any stockholder. The Company further covenants and agrees
that upon exercise of the Purchase Warrants and payment of the exercise price therefor, all Shares and other securities issuable
upon such exercise shall be duly and validly issued, fully paid and non-assessable and not subject to preemptive rights of any
stockholder. As long as the Purchase Warrants shall be outstanding, the Company shall use its commercially reasonable efforts to
cause the Company’s common stock to be listed (subject to official notice of issuance) on all national securities exchanges
(or, if applicable, on the OTC Bulletin Board or any successor trading market) on which the shares of common stock issued to the
public in the Company’s initial public offering may then be listed and/or quoted.

 

8. Certain Notice Requirements.

 

8.1 Holder’s Right to Receive
Notice. Nothing herein shall be construed as conferring upon the Holder(s) the right to vote or consent or to receive notice
as a stockholder for the election of directors or any other matter, or as having any rights whatsoever as a stockholder of the
Company. If, however, at any time prior to the expiration of the Purchase Warrants and their exercise, any of the events described
in Section 8.2 shall occur, then, in one or more of said events, the Company shall give written notice of such event at least
fifteen days prior to the date fixed as a record date or the date of closing the transfer books for the determination of the stockholders
entitled to such dividend, distribution, conversion or exchange of securities or subscription rights, or entitled to vote on such
proposed dissolution, liquidation, winding up or sale. Such notice shall specify such record date or the date of the closing of
the transfer books, as the case may be. Notwithstanding the foregoing, the Company shall deliver to each Holder a copy of each
notice given to the other stockholders of the Company at the same time and in the same manner that such notice is given to the
stockholders.

 

    	 

    	 

    

 

8.2 Events Requiring Notice. The
Company shall be required to give the notice described in this Section 8 upon one or more of the following events: (i) if
the Company shall take a record of the holders of shares of the Company’s common stock for the purpose of entitling them
to receive a dividend or distribution payable otherwise than in cash, or a cash dividend or distribution payable otherwise than
out of retained earnings, as indicated by the accounting treatment of such dividend or distribution on the books of the Company,
(ii) the Company shall offer to all the holders of shares of the Company’s common stock any additional shares of capital
stock of the Company or securities convertible into or exchangeable for shares of capital stock of the Company, or any option,
right or warrant to subscribe therefor, (iii) a dissolution, liquidation or winding up of the Company (other than in connection
with a consolidation or share reconstruction or amalgamation) or a sale of all or substantially all of its property, assets and
business shall be proposed, (iv) thirty (30) days prior to the Expiration Date, (iv) the occurrence of a Fundamental Transaction,
(v) the merger or consolidation of the Company, or (vi) effect a liquidation, dissolution or winding up of the Company.

 

8.3 Notice of Change in Exercise Price.
The Company shall, promptly after an event requiring a change in the Exercise Price pursuant to Section 6 hereof, send notice
to the Holder(s) of such event and change (“Price Notice”). The Price Notice shall describe the event causing
the change and the method of calculating same and shall be certified as being true and accurate by the Company’s Chief Financial
Officer.

 

8.4 Transmittal of Notices. All
notices, requests, consents and other communications under this Purchase Warrant shall be in writing and shall be deemed to have
been duly made when hand delivered, or mailed by express mail or private courier service: (i) if to the registered Holder
of the Purchase Warrant where such registered Holder is any Holder other than Sunrise, to the address of such Holder as shown on
the books of the Company, or (ii) if to the Company or to Sunrise, to following address or to such other address as the Company
may designate by notice to the Holder(s):

 

If to Brean:

 

Brean Capital, LLC

1535 Avenue of the Americas, 29th Floor

New York, New York

Attention: General Counsel

Fax No.: [_____]

 

If to Summer Street Research Partners:

 

Summer Street Research Partners

101 Arch Street, Suite 2010

Boston, Massachusetts 02110

Attention: General Counsel

Fax No.: [_____]

 

with a copy (which shall not constitute notice) to:

 

Greenberg Traurig, LLP

One International Place

Boston, Massachusetts 02110

Attention: Robert E. Puopolo, Esq.

Fax No.: (617) 279-8433

 

If to the Company:

 

MicroLin Bio, Inc.

302 W. 12th St., Suite 114

New York, New York 10014

Attention: Joseph Hernandez, Chief Executive Officer

Fax No.: [_____]

 

with a copy (which shall not constitute notice) to:

 

Thompson Hine LLP

335 Madison Avenue, 12th Floor

New York, New York 10017

Attention: Faith L. Charles, Esq.

Fax No.: (212) 344-6101

 

    	 

    	 

    

 

9. Miscellaneous.

 

9.1 Amendments. The Company, Brean
and SSRP may from time to time supplement or amend this Purchase Warrant without the approval of any of the Holder(s) in order
to cure any ambiguity, to correct or supplement any provision contained herein that may be defective or inconsistent with any other
provisions herein, or to make any other provisions in regard to matters or questions arising hereunder that the Company and Sunrise
may deem necessary or desirable and that the Company and Sunrise deem shall not adversely affect the interest of the Holder(s).
All other modifications or amendments shall require the written consent of and be signed by the party against whom enforcement
of the modification or amendment is sought.

 

9.2 Headings. The headings contained
herein are for the sole purpose of convenience of reference, and shall not in any way limit or affect the meaning or interpretation
of any of the terms or provisions of this Purchase Warrant.

 

9.3. Entire Agreement. This Purchase
Warrant (together with the other agreements and documents being delivered pursuant to or in connection with this Purchase Warrant)
constitutes the entire agreement of the parties hereto with respect to the subject matter hereof, and supersedes all prior agreements
and understandings of the parties, oral and written, with respect to the subject matter hereof.

 

9.4 Binding Effect. This Purchase
Warrant shall inure solely to the benefit of and shall be binding upon, the Holder and the Company and their permitted assignees,
respective successors, legal representative and assigns, and no other person shall have or be construed to have any legal or equitable
right, remedy or claim under or in respect of or by virtue of this Purchase Warrant or any provisions herein contained.

 

9.5 Governing Law; Submission to Jurisdiction;
Trial by Jury. This Purchase Warrant shall be governed by and construed and enforced in accordance with the laws of the State
of New York, without giving effect to conflict of laws principles thereof. The Company hereby agrees that any action, proceeding
or claim against it arising out of, or relating in any way to this Purchase Warrant shall be brought and enforced in the New York
Supreme Court, County of New York, or in the United States District Court for the Southern District of New York, and irrevocably
submits to such jurisdiction, which jurisdiction shall be exclusive. The Company hereby waives any objection to such exclusive
jurisdiction and that such courts represent an inconvenient forum. Any process or summons to be served upon the Company may be
served by transmitting a copy thereof by registered or certified mail, return receipt requested, postage prepaid, addressed to
it at the address set forth in Section 8 hereof. Such mailing shall be deemed personal service and shall be legal and binding
upon the Company in any action, proceeding or claim. The Company and the Holder agree that the prevailing party(ies) in any such
action shall be entitled to recover from the other party(ies) all of its reasonable attorneys’ fees and expenses relating
to such action or proceeding and/or incurred in connection with the preparation therefor. The Company (on its behalf and, to the
extent permitted by applicable law, on behalf of its stockholders and affiliates) and the Holder hereby irrevocably waive, to the
fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or relating
to this Agreement or the transactions contemplated hereby.

 

9.6 Waiver, etc. The failure of
the Company or the Holder to at any time enforce any of the provisions of this Purchase Warrant shall not be deemed or construed
to be a waiver of any such provision, nor to in any way affect the validity of this Purchase Warrant or any provision hereof or
the right of the Company or any Holder to thereafter enforce each and every provision of this Purchase Warrant. No waiver of any
breach, non-compliance or non-fulfillment of any of the provisions of this Purchase Warrant shall be effective unless set forth
in a written instrument executed by the party or parties against whom or which enforcement of such waiver is sought; and no waiver
of any such breach, non-compliance or non-fulfillment shall be construed or deemed to be a waiver of any other or subsequent breach,
non-compliance or non-fulfillment.

 

9.7 Execution in Counterparts. This
Purchase Warrant may be executed in one or more counterparts, and by the different parties hereto in separate counterparts, each
of which shall be deemed to be an original, but all of which taken together shall constitute one and the same agreement, and shall
become effective when one or more counterparts has been signed by each of the parties hereto and delivered to each of the other
parties hereto. Such counterparts may be delivered by facsimile transmission or other electronic transmission.

 

9.8 Exchange Agreement. As a condition
of the Holder’s receipt and acceptance of this Purchase Warrant, Holder agrees that, at any time prior to the complete exercise
of this Purchase Warrant by Holder, if the Company, Brean and SSRP enter into an agreement (“Exchange Agreement”)
pursuant to which they agree that all outstanding Purchase Warrants will be exchanged for securities or cash or a combination of
both, then Holder shall agree to such exchange and become a party to the Exchange Agreement.

 

[Signature Page Follows] 

 

    	 

    	 

    

 

IN WITNESS WHEREOF, the Company has caused
this Purchase Warrant to be signed by its duly authorized officer as of the      day of         ,
2014.

 

	MicroLin Bio, Inc.	 
	 	 
	By:	 	 
	 	Name:	 
	 	 	 
	 	Title:	 

 

    	 

    	 

    

 

[Form to be used
to exercise Purchase Warrant]

 

Date:             ,
20    

 

The undersigned hereby elects
irrevocably to exercise the Purchase Warrant for                 
shares of common stock, par value $0.000001 per share (the “Shares”), of MicroLin Bio, Inc., a Delaware corporation
(the “Company”), and hereby makes payment of $         (at the rate
of $         per Share) in payment of the Exercise Price pursuant thereto. Please issue
the Shares as to which this Purchase Warrant is exercised in accordance with the instructions given below and, if applicable, a
new Purchase Warrant representing the number of Shares for which this Purchase Warrant has not been exercised.

 

or

 

The undersigned hereby elects irrevocably to convert its right
to purchase              Shares of the Company under the Purchase Warrant
for                  Shares, as determined in accordance
with the following formula:

	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	    Y(A-B)    
	 	 	 	X    	 	=	 	        A
	 	 	 	 
	 	Where,	 	 	 	 	 	 
	 	 	 	 
	 	 	 	X	 	=	 	The number of Shares to be issued to Holder;
	 	 	 	 	 	 	 	 
	 	 	 	Y	 	=	 	The number of Shares for which the Purchase Warrant is being exercised;
	 	 	 	 	 	 	 	 
	 	 	 	A	 	=	 	The fair market value of one Share which is equal to $        ; and
	 	 	 	 	 	 	 	 
	 	 	 	B	 	=	 	The Exercise Price which is equal to $         per share

 

The undersigned agrees and
acknowledges that the calculation set forth above is subject to confirmation by the Company and any disagreement with respect to
the calculation shall be resolved by the Company in its sole discretion.

 

Please issue the Shares as to which this Purchase Warrant is
exercised in accordance with the instructions given below and, if applicable, a new Purchase Warrant representing the number of
Shares for which this Purchase Warrant has not been converted.

 

	Signature	 	 

 

	Signature Guaranteed	 	 

 

    	 

    	 

    

 

	INSTRUCTIONS FOR REGISTRATION OF SECURITIES	 
	 	 
	Name:	 	 
	 	 	 
	(Print in Block Letters)	 
	 	 
	Address:	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

NOTICE: The signature to this form must correspond with the
name as written upon the face of the Purchase Warrant without alteration or enlargement or any change whatsoever, and must be guaranteed
by a bank, other than a savings bank, or by a trust company or by a firm having membership on a registered national securities
exchange.

 

    	 

    	 

    

 

[Form to be used to assign Purchase Warrant]

 

ASSIGNMENT

 

(To be executed by the registered Holder to effect a transfer
of the within Purchase Warrant):

 

FOR VALUE RECEIVED,                     
does hereby sell, assign and transfer unto the right to purchase shares of common stock, par value $0.000001 per share, of MicroLin
Bio, Inc., a Delaware corporation (the “Company”), evidenced by the Purchase Warrant and does hereby authorize
the Company to transfer such right on the books of the Company.

 

	Dated:             , 20   	 
	 	 
	Signature	 	 
	 	 

	Signature Guaranteed	 	 

 

NOTICE: The signature to this form must correspond with the
name as written upon the face of the within Purchase Warrant without alteration or enlargement or any change whatsoever, and must
be guaranteed by a bank, other than a savings bank, or by a trust company or by a firm having membership on a registered national
securities exchange.

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