Document:

Exhibit 10.4

 

FORM OF SUPPORT
AGREEMENT

 

This
Support Agreement (this “Agreement”), dated as of January 31, 2021, is entered into by and among Software Acquisition
Group Inc. II, a Delaware corporation (“SPAC”), Otonomo Technologies Ltd., a company organized under
the laws of the State of Israel (the “Company”), and [ ● ]
(the “Shareholder”).

 

RECITALS

 

WHEREAS, concurrently
herewith, SPAC, Butterbur Merger Sub Inc., a Delaware corporation (“Merger Sub”), and the Company are entering
into a Business Combination Agreement (as amended, supplemented, restated or otherwise modified from time to time, the “Business
Combination Agreement”; capitalized terms used but not otherwise defined in this Agreement shall have the meanings ascribed
to them in the Business Combination Agreement), pursuant to which (and subject to the terms and conditions set forth therein) Merger
Sub will merge with and into SPAC, with SPAC surviving the merger (the “Merger”);

 

WHEREAS,
as of the date hereof, the Shareholder is the record and “beneficial owner” (within the meaning of Rule 13d-3 under
the Securities Exchange Act of 1934, as amended (together with the rules and regulations promulgated thereunder, the “Exchange
Act”)) of and is entitled to dispose of and vote [[ ● ]
Company Ordinary Shares][,] [[ ● ] Company Seed Preferred Shares][,]
[[ ● ] Company Preferred A Shares][,] [[ ● ]
Company Preferred B Shares][,] [[ ● ] Company Preferred C Shares]
[and] [[ ● ] Company Preferred C-1 Shares] (collectively, the “Owned
Shares”; the Owned Shares and any additional Company Shares (or any securities convertible into or exercisable or exchangeable
for Company Shares) in which the Shareholder acquires record or beneficial ownership after the date hereof, including by purchase,
as a result of a share dividend, share split, recapitalization, combination, reclassification, exchange or change of such shares,
or upon exercise or conversion of any securities, the “Covered Shares”);

 

WHEREAS, as a condition
and inducement to the willingness of SPAC to enter into the Business Combination Agreement, SPAC, the Company and the Shareholder
are entering into this Agreement.

 

AGREEMENT

 

NOW, THEREFORE, in
consideration of the foregoing and the mutual covenants and agreements herein contained, and intending to be legally bound hereby,
SPAC, the Company and the Shareholder hereby agree as follows:

 

1. Agreement
to Vote. Subject to the earlier termination of this Agreement in accordance with Section 3, the Shareholder, in its
capacity as a shareholder or proxy holder of the Company, irrevocably and unconditionally agrees that it shall, and shall cause
any other holder of record of any of the Shareholder’s Covered Shares to, validly execute and deliver to the Company, on
(or effective as of) the fifth (5th) day following the date that the notice of the Company Shareholder Meeting (the “Company
Shareholder Meeting Notice”) is delivered by the Company, the voting proxy in substantially the form attached hereto
as Exhibit A (the “Voting Proxy”) in respect of all of the Shareholder’s Covered Shares. In addition,
prior to the Termination Date (as defined herein), the Shareholder, in its capacity as a shareholder or proxy holder of the Company,
irrevocably and unconditionally agrees that, at any other meeting of the shareholders of the Company (whether annual or special
and whether or not an adjourned or postponed meeting, however called and including any adjournment or postponement thereof) and
in connection with any written consent of shareholders of the Company, the Shareholder shall, and shall cause any other holder
of record of any of the Shareholder’s Covered Shares to:

 

(a) if
and when such meeting is held, appear at such meeting or otherwise cause the Shareholder’s Covered Shares to be counted as
present thereat for the purpose of establishing a quorum;

 

     

     

    

 

(b) execute
and return an action by written consent (or vote, in person or by proxy), or validly execute and return and cause such consent
to be granted with respect to (or cause to be voted at such meeting), all of the Shareholder’s Covered Shares owned as of
the date that any written consent is executed by the Shareholder (or the record date for such meeting) in favor of (i) the Merger
and the adoption of the Business Combination Agreement, (ii) the Company Shareholder Proposals (as defined in the Voting Proxy),
(iii) the Company Preferred Shareholder Proposals (as defined in the Voting Proxy), if applicable, and (iv) any other matters necessary
or reasonably requested by the Company for consummation of the Merger and the other transactions contemplated by the Business Combination
Agreement; and

 

(c) execute
and return an action by written consent (or vote, in person or by proxy), or validly execute and return and cause such consent
to be granted with respect to (or cause to be voted at such meeting), all of the Shareholder’s Covered Shares against any
Company Acquisition Proposal and any other action that would reasonably be expected to materially impede, interfere with, delay,
postpone or adversely affect the Merger or any of the other transactions contemplated by the Business Combination Agreement or
result in a breach of any covenant, representation or warranty or other obligation or agreement of the Company under the Business
Combination Agreement that would result in the failure of any condition set forth in Section 6.1, Section 6.2 or Section 6.3 of
the Business Combination Agreement to be satisfied or result in a breach of any covenant, representation or warranty or other obligation
or agreement of the Shareholder contained in this Agreement.

 

(d) The
obligations of the Shareholder specified in this Section 1 shall apply whether or not the Merger or any action
described above is recommended by the Company Board.

 

(e) The
Shareholder hereby irrevocably, to the fullest extent permitted by law, appoints the Company, or any designee of the Company,
for so long as the provisions of this Section 1 remain in effect, as the Shareholder’s attorney-in-fact and
proxy with full power of substitution, to vote and otherwise act (by written consent or otherwise) with respect to the Owned
Shares, solely on the matters and in the manner specified in this Section 1. This proxy shall be valid for the
duration of this Agreement.

 

(f) THE PROXIES
AND POWERS OF ATTORNEY GRANTED PURSUANT TO SECTION 1(e) ARE IRREVOCABLE AND COUPLED WITH AN INTEREST. The proxies and powers
of attorney shall not be terminated by any act of the Shareholder or by operation of law, by lack of appropriate power or
authority, or by the occurrence of any other event or events and shall be binding upon all successors, assigns, heirs,
beneficiaries and legal representatives of the Shareholder. The Shareholder hereby revokes all other proxies and powers of
attorney on the matters specified in this Section 1 with respect to the Owned Shares that the Shareholder may have
previously appointed or granted, and no subsequent proxy or power of attorney shall be given or written consent executed (and
if given or executed, shall not be effective) by the Shareholder with respect thereto. All authority herein conferred or
agreed to be conferred shall survive the death, bankruptcy or incapacity of the Shareholder and any obligation of the
Shareholder under this Agreement shall be binding upon the heirs, personal representatives, and successors of the
Shareholder.

 

    2

     

    

 

2. No
Inconsistent Agreements. The Shareholder hereby covenants and agrees that the Shareholder shall not, at any time prior to the
Termination Date, (i) enter into any voting agreement or voting trust with respect to any of the Shareholder’s Covered Shares
that is inconsistent with the Shareholder’s obligations pursuant to this Agreement, (ii) grant a proxy or power of attorney
with respect to any of the Shareholder’s Covered Shares that is inconsistent with the Shareholder’s obligations pursuant
to this Agreement, or (iii) enter into any agreement or undertaking that is otherwise inconsistent with, or would interfere with,
or prohibit or prevent it from satisfying, its obligations pursuant to this Agreement.

 

3. Termination.
This Agreement shall terminate, and no party shall have any further obligations or liabilities under this Agreement, upon the earliest
of (i) the Effective Time, (ii) the termination or expiration of the Business Combination Agreement in accordance with its terms,
or (iii) the time this Agreement is terminated upon the mutual written agreement of SPAC, the Company and the Shareholder (the
earliest such date under clause (i), (ii) and (iii) being referred to herein as the “Termination Date”); provided,
that the provisions set forth in Sections 10 to 22 below shall survive the termination of this Agreement; provided
further, that termination of this Agreement shall not relieve any party hereto from any liability for any Willful Breach of,
or actual fraud in connection with, this Agreement prior to such termination.

 

4. Representations
and Warranties of the Shareholder. The Shareholder hereby represents and warrants to SPAC as to itself as follows:

 

(a) The
Shareholder is the only record and beneficial owner (within the meaning of Rule 13d-3 under the Exchange Act) of, and has good,
valid and marketable title to, the Covered Shares, free and clear of Liens other than as created by this Agreement and Permitted
Liens. As of the date hereof, other than the Owned Shares, the Shareholder does not own beneficially or of record any share capital
of the Company (or any securities convertible into share capital of the Company).

 

(b) The
Shareholder (i) except as provided in this Agreement, has full voting power, full power of disposition and full power to issue
instructions with respect to the matters set forth herein, in each case, with respect to the Shareholder’s Covered Shares,
(ii) has not entered into any voting agreement or voting trust with respect to any of the Shareholder’s Covered Shares that
is inconsistent with the Shareholder’s obligations pursuant to this Agreement and (iii) has not granted a proxy or power
of attorney with respect to any of the Shareholder’s Covered Shares that is inconsistent with the Shareholder’s obligations
pursuant to this Agreement.

 

(c) If
the Shareholder is an entity, such Shareholder has been duly formed or incorporated and is validly existing in good standing (if
the concept of good standing is applicable) under the laws of its jurisdiction of incorporation or formation, with the power and
authority and all authorization and approval required by law to enter into, deliver and perform its obligations under this Agreement
with respect to its Covered Shares.  If such Shareholder is an individual, such Shareholder has the capacity, full legal right,
power and authority and all authorization and approval required by law to enter into, deliver and perform its obligations under
this Agreement with respect to its Shares.  This Agreement has been duly authorized, executed and delivered by the Shareholder
and, assuming that this Agreement constitutes a valid and binding obligation of the other parties hereto, is enforceable against
such Shareholder in accordance with its terms, except as may be limited or otherwise affected by applicable bankruptcy, insolvency,
fraudulent conveyance, reorganization, moratorium or other laws affecting generally the enforcement of creditors’ rights
and subject to general principles of equity.

 

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(d) Other
than the filings, notices and reports pursuant to, in compliance with or required to be made under the Exchange Act, if any, no
filings, notices, reports, consents, registrations, approvals, permits, waivers, expirations of waiting periods or authorizations
are required to be obtained by the Shareholder from, or to be given by the Shareholder to, or be made by the Shareholder with,
any Governmental Entity in connection with the execution, delivery and performance by the Shareholder of this Agreement, the consummation
of the transactions contemplated hereby or the Merger and the other transactions contemplated by the Business Combination Agreement.

 

(e) The
execution, delivery and performance of this Agreement by the Shareholder do not, and the consummation of the transactions contemplated
hereby or the Merger and the other transactions contemplated by the Business Combination Agreement will not, constitute or result
in [(i) a breach or violation of, or a default under, the limited liability company agreement or similar governing documents of
the Shareholder,]1 (ii) with or without notice, lapse
of time or both, a breach or violation of, a termination (or right of termination) of or a default under, the loss of any benefit
under, the creation, modification or acceleration of any obligations under or the creation of a Lien on any of the properties,
rights or assets of the Shareholder pursuant to any Contract binding upon the Shareholder or, assuming (solely with respect to
performance of this Agreement and the transactions contemplated hereby), compliance with the matters referred to in Section
4(d), under any applicable Law to which the Shareholder is subject or (iii) any change in the rights or obligations of any
party under any Contract legally binding upon the Shareholder, except, in the case of clause (ii) or (iii) directly above, for
any such breach, violation, termination, default, creation, acceleration or change that would not, individually or in the aggregate,
reasonably be expected to prevent or materially delay or impair the Shareholder’s ability to perform its obligations hereunder
or to consummate the transactions contemplated hereby, the consummation of the Merger or the other transactions contemplated by
the Business Combination Agreement.

 

(f) As
of the date of this Agreement, there is no action, proceeding or investigation pending against the Shareholder or, to the knowledge
of the Shareholder, threatened against the Shareholder that questions the beneficial or record ownership of the Shareholder’s
Owned Shares, the validity of this Agreement or the performance by the Shareholder of its obligations under this Agreement.

 

(g) The
Shareholder understands and acknowledges that SPAC is entering into the Business Combination Agreement in reliance upon the Shareholder’s
execution and delivery of this Agreement and the representations, warranties, covenants and other agreements of the Shareholder
contained herein.

 

(h) No
investment banker, broker, finder or other intermediary is entitled to any broker’s, finder’s, financial advisor’s
or other similar fee or commission for which SPAC or the Company is or will be liable in connection with the transactions contemplated
hereby based upon arrangements made by or, to the knowledge of the Shareholder, on behalf of the Shareholder.

 

 

1
NTD: To be included if the Shareholder is an entity.

 

    4

     

    

 

5. Certain
Covenants of the Shareholder. Except in accordance with the terms of this Agreement, the Shareholder hereby covenants and agrees
as follows:

 

(a) No
Solicitation. Subject to Section 6 hereof, prior to the Termination Date, the Shareholder shall not, and shall cause
its Affiliates and Subsidiaries not to, shall not authorize its Representatives to, and shall use its reasonable best efforts to
cause its and their respective Representatives not to, directly or indirectly, (i) solicit, initiate, knowingly encourage
(including by means of furnishing or disclosing information), knowingly facilitate, discuss or negotiate, directly or indirectly,
any inquiry, proposal or offer (written or oral) that constitutes, or may reasonably be expected to lead to, a Company Acquisition
Proposal; (ii) furnish or disclose any non-public information about the Company to any Person in connection with, or that could
reasonably be expected to lead to, a Company Acquisition Proposal (except that the Shareholder shall be permitted to disclose non-public
information about the Company to its limited partners, members, or shareholders for the limited purpose of securing the corporate
or other power and authority to execute and perform this Agreement, provided the Shareholder takes reasonable efforts to cause
such Persons to comply with this Section 5(a)); (iii) enter into any Contract or other arrangement or understanding regarding
a Company Acquisition Proposal; or (iv) otherwise cooperate in any way with, or assist or participate in, or knowingly facilitate
or encourage any effort or attempt by any Person to do or seek to do any of the foregoing. If the
Shareholder or any of its Affiliates receives any inquiry or proposal regarding a Company Acquisition Proposal, then Shareholder
shall reasonably promptly notify such person indicating only that it is subject to an exclusivity agreement that prohibits it from
considering such inquiry or proposal and, in such event, the Shareholder shall (A) notify SPAC promptly upon receipt of
any Company Acquisition Proposal by the Shareholder, and describe the material terms and conditions of any such Company Acquisition
Proposal in reasonable detail (including the identity of the Persons making such Company Acquisition Proposal) and (B) keep SPAC
reasonably informed on a current basis of any modifications to such offer or information.

 

Notwithstanding
anything in this Agreement to the contrary, (i) the Shareholder shall not be responsible for the actions of the Company or the
Company Board (or any committee thereof), any Subsidiary of the Company, or any officers, directors (in their capacity as such),
employees and professional advisors of any of the foregoing (the “Company Related Parties”), including with
respect to any of the matters contemplated by this Section 5(a), (ii) the Shareholder makes no representations or warranties
with respect to the actions of any of the Company Related Parties and (iii) any breach by the Company of its obligations under
Section 5.6(a) of the Business Combination Agreement shall not be considered a breach of this Section 5(a) (it being understood
for the avoidance of doubt that the Shareholder shall remain responsible for any breach by it or its Representatives (other than
any such Representative that is a Company Related Party) of this Section 5(a)).

 

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(b) The
Shareholder hereby agrees not to, directly or indirectly, prior to the Termination Date, except in connection with the consummation
of the Merger or the sale by the Shareholder of certain Covered Shares pursuant to that certain Share Purchase Agreement, dated
as of the date hereof, by and among the Company, SPAC, Shareholder and the other parties thereto, (i) sell, transfer, pledge, encumber,
assign, hedge, swap, convert or otherwise dispose of (including by merger (including by conversion into securities or other consideration),
by tendering into any tender or exchange offer, by testamentary disposition, by operation of Law or otherwise), either voluntarily
or involuntarily (collectively, “Transfer”), or enter into any Contract or option with respect to the Transfer
of any of the Shareholder’s Covered Shares, or (ii) take any action that would make any representation or warranty of the
Shareholder contained herein untrue or incorrect or have the effect of preventing or disabling the Shareholder from performing
its obligations under this Agreement; provided, however, that nothing herein shall prohibit a Transfer to an Affiliate
of the Shareholder (a “Permitted Transfer”); provided, further, that any Permitted Transfer shall
be permitted only if, as a precondition to such Transfer, the transferee agrees in a writing, reasonably satisfactory in form and
substance to SPAC, to assume all of the obligations of the Shareholder under, and be bound by all of the terms of, this Agreement;
provided, further, that any Transfer permitted under this Section 5(b) shall not relieve the Shareholder of
its obligations under this Agreement. Any Transfer in violation of this Section 5(b) with respect to the Shareholder’s
Covered Shares shall be null and void. Nothing in this Agreement shall prohibit direct or indirect transfers of equity or other
interests in a Shareholder.

 

(c) The
Shareholder hereby authorizes the Company to maintain a copy of this Agreement at either the executive office or the registered
office of the Company.

 

6. Further
Assurances. From time to time, at SPAC’s request and without further consideration, the Shareholder shall execute and
deliver such additional documents and take all such further action as are necessary to effect the actions and consummate the transactions
contemplated by this Agreement. The Shareholder further agrees not to commence or participate in, and to take all actions necessary
to opt out of any class action with respect to, any action or claim, derivative or otherwise, against SPAC, SPAC’s Affiliates,
the Sponsor, the Company or any of their respective successors and assigns relating to the negotiation, execution or delivery of
this Agreement, the Business Combination Agreement (including the Per Share Consideration and conversion of Company Preferred Shares)
or the consummation of the transactions contemplated hereby and thereby.

 

7. Disclosure.
The Shareholder hereby authorizes the Company and SPAC to publish and disclose in any announcement or disclosure required by the
SEC, or include in any document or information required to be filed with or furnished to the SEC or Nasdaq, the Shareholder’s
identity and ownership of the Covered Shares and the nature of the Shareholder’s obligations under this Agreement; provided,
that prior to any such publication or disclosure, the Company and SPAC have provided the Shareholder with an opportunity to review
and comment upon such announcement or disclosure, which comments the Company and SPAC will consider in good faith.

 

8. Changes
in Share Capital. In the event of a share split, share dividend or distribution, or any change in the Company’s share
capital by reason of any split-up, reverse share split, recapitalization, combination, reclassification, exchange of shares or
the like, the terms “Owned Shares” and “Covered Shares” shall be deemed to refer to and include such shares
as well as all such share dividends and distributions and any securities into which or for which any or all of such shares may
be changed or exchanged or which are received in such transaction.

 

9. Amendment
and Modification. This Agreement may not be amended, modified or supplemented in any manner, whether by course of conduct or
otherwise, except by an instrument in writing signed by SPAC, the Company and the Shareholder.

 

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10. Waiver.
Any party to this Agreement may, at any time prior to the Termination Date, waive any of the terms or conditions of this Agreement,
or agree to an amendment or modification to this Agreement in the manner contemplated by Section 9 and by an agreement
in writing executed in the same manner (but not necessarily by the same Persons) as this Agreement.

 

11. Notices.
All notices, requests, claims, demands and other communications among the parties shall be in writing and shall be deemed to have
been duly given (i) when delivered in person, (ii) when delivered after posting in the United States mail having been sent registered
or certified mail return receipt requested, postage prepaid, (iii) when delivered by FedEx or other nationally recognized overnight
delivery service or (iv) when e-mailed during normal business hours (and otherwise as of the immediately following Business Day),
addressed as follows:

 

If to SPAC, to:

 

Software Acquisition Group Inc. II

1980 Festival Plaza Drive, Ste. 300

Las Vegas, Nevada 89135

		Attention:	Jonathan S. Huberman

		E-mail:	jon@softwareaqn.com

 

with copies (which shall not constitute notice) to:

 

Kirkland & Ellis LLP

601 Lexington Avenue

New York, New York 10022

		Attention:	Christian O. Nagler

Books Antweil

Stuart E. Casillas, P.C.

Erin Blake

		E-mail:	cnagler@kirkland.com

brooks.antweil@kirkland.com

casillas@kirkland.com

erin.blake@kirkland.com

 

Gornitzky & Co., Advocates and Notaries

Vitania Tel-Aviv Tower

20 Haharash St.

Tel Aviv 6761310, Israel

		Attention:	Chaim Friedland

Timor Belan

Ari Fried

		E-mail:	friedland@gornitzky.com

timorb@gornitzky.com

arif@gornitzky.com

 

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If to the Company, to:

 

Otonomo Technologies Ltd.

16 Abba Eban Blvd.

Herzliya 4672534, Israel

		Attention:	Bonnie Moav, Chief Financial Officer

		Email:	Bonnie@otonomo.io

 

with copies (which shall not constitute notice) to:

 

Latham & Watkins LLP

811 Main Street, Suite 3700

Houston, Texas 77002

		Attention:	Ryan Maierson

John Greer

		E-mail:	ryan.maierson@lw.com

john.greer@lw.com

 

Latham & Watkins LLP

99 Bishopsgate

London EC2M 3XF

United Kingdom

		Attention:	Joshua Kiernan

		E-mail:	joshua.kiernan@lw.com

 

Gross Law Firm

1 Azrieli Center, Round Tower

Tel Aviv 6701101 Israel

		Attention:	Amir Raz

		E-mail:	amir.raz@gkh-law.com

 

If to the Shareholder, to such address
indicated on the Company’s records with respect to the Shareholder or to such other address or addresses as the Shareholder
may from time to time designate in writing.

 

12. No
Ownership Interest. Nothing contained in this Agreement shall be deemed to vest in SPAC any direct or indirect ownership or
incidence of ownership of or with respect to the Covered Shares of the Shareholder. All rights, ownership and economic benefits
of and relating to the Covered Shares of the Shareholder shall remain vested in and belong to the Shareholder, and SPAC shall have
no authority to manage, direct, restrict, regulate, govern or administer any of the policies or operations of Company or exercise
any power or authority to direct the Shareholder in the voting or disposition of any of the Shareholder’s Covered Shares,
except as otherwise provided herein.

 

13. Entire
Agreement. This Agreement and the Business Combination Agreement constitute the entire agreement among the parties hereto with
respect to the subject matter hereof and supersede all other prior agreements and understandings, both written and oral, among
the parties hereto with respect to the subject matter hereof.  No representations, warranties, covenants, understandings,
agreements, oral or otherwise, with respect to the subject matter contemplated by this Agreement exist between the parties hereto
except as expressly set forth or referenced in this Agreement and the Business Combination Agreement. In the event of any inconsistency,
conflict, or ambiguity as to the rights and obligations of the parties hereto under this Agreement and the Business Combination
Agreement, the terms of this Agreement shall control and supersede any such inconsistency, conflict or ambiguity.

 

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14. No
Third-Party Beneficiaries. The Shareholder hereby agrees that its representations, warranties and covenants set forth herein
are solely for the benefit of SPAC in accordance with and subject to the terms of this Agreement, and this Agreement is not intended
to, and does not, confer upon any Person other than the parties hereto any rights or remedies hereunder, including the right to
rely upon the representations and warranties set forth herein, and the parties hereto hereby further agree that this Agreement
may only be enforced against, and any Proceeding that may be based upon, arise out of or relate to this Agreement, or the negotiation,
execution or performance of this Agreement may only be made against, the Persons expressly named as parties hereto; provided,
that the Company shall be an express third party beneficiary with respect to Section 4, Section 5(b) and Section
7 hereof.

 

15. Governing
Law and Venue; Service of Process; Waiver of Jury Trial.

 

(a) This
Agreement, and all claims or causes of action based upon, arising out of, or related to this Agreement, shall be governed by and
construed in accordance with the Laws of the State of Delaware, without giving effect to any choice of law or conflict of law provision
or rule (whether of the State of Delaware or any other jurisdiction) that would cause the application of the Law of any jurisdiction
other than the State of Delaware.

 

(b) Each
of the parties irrevocably and unconditionally submits to the exclusive jurisdiction of the Chancery Court of the State of Delaware
(or, if the Chancery Court of the State of Delaware declines to accept jurisdiction, any state or federal court sitting in the
Borough of Manhattan, State of New York, New York County), for the purposes of any Proceeding, claim, demand, action or cause of
action (a) arising under this Agreement or (b) in any way connected with or related or incidental to the dealings of the parties
in respect of this Agreement or any of the transactions contemplated hereby, and irrevocably and unconditionally waives any objection
to the laying of venue of any such Proceeding in any such court, and further irrevocably and unconditionally waives and agrees
not to plead or claim in any such court that any such Proceeding has been brought in an inconvenient forum. Each party hereby irrevocably
and unconditionally waives, and agrees not to assert, by way of motion or as a defense, counterclaim or otherwise, in any Proceeding
claim, demand, action or cause of action against such party (i) arising under this Agreement or (ii) in any way connected with
or related or incidental to the dealings of the parties in respect of this Agreement or any of the transactions contemplated hereby,
(A) any claim that such party is not personally subject to the jurisdiction of the courts as described in this Section 15
for any reason, (B) that such party or such party’s property is exempt or immune from the jurisdiction of any such court
or from any legal process commenced in such courts (whether through service of notice, attachment prior to judgment, attachment
in aid of execution of judgment, execution of judgment or otherwise) and (C) that (x) the Proceeding, claim, demand,
action or cause of action in any such court is brought against such party in an inconvenient forum, (y) the venue of such
Proceeding, claim, demand, action or cause of action against such party is improper or (z) this Agreement, or the subject
matter hereof, may not be enforced against such party in or by such courts. Each party agrees that service of any process, summons,
notice or document by registered mail to such party’s respective address set forth in Section 11 shall be effective
service of process for any such Proceeding, claim, demand, action or cause of action.

 

16. Assignment;
Successors. No party hereto shall assign this Agreement or any part hereof without the prior written consent of the other parties.
Subject to the foregoing, this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective
permitted successors and assigns. Any attempted assignment in violation of the terms of this Section 16 shall be null
and void, ab initio.

 

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17. Non-Recourse.
This Agreement may only be enforced against, and any claim or cause of action based upon, arising out of, or related to this Agreement
or the transactions contemplated hereby may only be brought against, the entities that are expressly named as parties hereto, and
then only with respect to the specific obligations set forth herein with respect to such party. Except to the extent a named party
to this Agreement (and then only to the extent of the specific obligations undertaken by such named party in this Agreement), (a)
no past, present or future director, officer, employee, incorporator, member, partner, shareholder, affiliate, agent, attorney,
advisor or representative or affiliate of any named party to this Agreement and (b) no past, present or future director, officer,
employee, incorporator, member, partner, shareholder, affiliate, agent, attorney, advisor or representative or affiliate of any
of the foregoing shall have any liability (whether in contract, tort, equity or otherwise) for any one or more of the representations,
warranties, covenants, agreements or other obligations or liabilities of any one or more of SPAC, the Company or the Shareholder
under this Agreement of or for any claim based on, arising out of, or related to this Agreement or the transactions contemplated
hereby.

 

18. Enforcement.
The parties agree that irreparable damage for which monetary damages, even if available, would not be an adequate remedy, would
occur in the event that the parties do not perform their obligations under the provisions of this Agreement in accordance with
its specified terms or otherwise breach such provisions. The parties acknowledge and agree that (a) the parties shall be entitled
to an injunction, specific performance, or other equitable relief, to prevent breaches of this Agreement and to enforce specifically
the terms and provisions hereof, including the Shareholder’s obligations to vote its Covered Shares as provided in this Agreement,
without proof of damages, prior to the valid termination of this Agreement, this being in addition to any other remedy to which
they are entitled under this Agreement, and (b) the right of specific enforcement is an integral part of the transactions
contemplated by this Agreement and without that right, none of the parties would have entered into this Agreement. Each party agrees
that it will not oppose the granting of specific performance and other equitable relief on the basis that the other parties have
an adequate remedy at Law or that an award of specific performance is not an appropriate remedy for any reason at Law or equity.
The parties acknowledge and agree that any party seeking an injunction to prevent breaches of this Agreement and to enforce specifically
the terms and provisions of this Agreement in accordance with this Section 18 shall not be required to provide any
bond or other security in connection with any such injunction.

 

19. Severability.
Whenever possible, each provision of this Agreement will be interpreted in such a manner as to be effective and valid under applicable
Law, but if any term or other provision of this Agreement is held to be invalid, illegal or unenforceable under applicable Law,
all other provisions of this Agreement shall remain in full force and effect so long as the economic or legal substance of the
transactions contemplated hereby is not affected in any manner materially adverse to any party. Upon such determination that any
term or other provision of this Agreement is invalid, illegal or unenforceable under applicable Law, the parties hereto shall negotiate
in good faith to modify this Agreement so as to effect the original intent of the parties hereto as closely as possible in an acceptable
manner in order that the transactions contemplated hereby are consummated as originally contemplated to the greatest extent possible.

 

20. Counterparts.
This Agreement and any amendment hereto may be executed in one or more counterparts, each of which shall be deemed to be an original,
but all of which shall constitute one and the same agreement. Delivery of an executed counterpart of a signature page to this Agreement
or any amendment hereto by electronic means, including docusign, e-mail, or scanned pages shall be effective as delivery of a manually
executed counterpart to this Agreement or any amendment hereto.

 

    10

     

    

 

21. Interpretation
and Construction. The words “hereof,” “herein” and “hereunder” and words of like import
used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement. The descriptive
headings used herein are inserted for convenience of reference only and are not intended to be part of or to affect the meaning
or interpretation of this Agreement. References to Sections are to Sections of this Agreement unless otherwise specified. Any singular
term in this Agreement shall be deemed to include the plural, and any plural term the singular. The definitions contained in this
Agreement are applicable to the masculine as well as to the feminine and neuter genders of such term. Whenever the words “include,”
“includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words
“without limitation,” whether or not they are in fact followed by those words or words of like import. “Writing,”
“written” and comparable terms refer to printing, typing and other means of reproducing words (including electronic
media) in a visible form. References to any statute shall be deemed to refer to such statute and to any rules or regulations promulgated
thereunder. References to any person include the successors and permitted assigns of that person. References from or through any
date mean, unless otherwise specified, from and including such date or through and including such date, respectively. In the event
an ambiguity or question of intent or interpretation arises, this Agreement will be construed as if drafted jointly by the parties,
and no presumption or burden of proof will arise favoring or disfavoring any party by virtue of the authorship of any of the provisions
of this Agreement.

 

22. Capacity
as a Shareholder. Notwithstanding anything herein to the contrary, the Shareholder signs this Agreement solely in the Shareholder’s
capacity as a shareholder or proxy holder of the Company, and not in any other capacity and this Agreement shall not limit or otherwise
affect the actions of any affiliate, employee or designee of the Shareholder or any of its affiliates in his or her capacity, if
applicable, as an officer or director of the Company or any other Person. The Shareholder shall not be liable or responsible for
any breach, default, or violation of any representation, warranty, covenant or agreement hereunder by any other shareholder that
is entering into a similar Agreement and the Shareholder shall solely be required to perform its obligations hereunder in its individual
capacity.

 

[The remainder of this page is intentionally
left blank.]

 

    11

     

    

 

IN WITNESS WHEREOF, the parties hereto have
caused this Agreement to be executed (where applicable, by their respective officers or other authorized Persons thereunto duly
authorized) as of the date first written above.

 

	 	Software ACQUISITION Group Inc. ii
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 
	 	otonomo Technologies Ltd.
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

     

     

    

 

	 	[ ● ]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

[Signature
Page to Support Agreement]

 

     

     

    

 

Exhibit A

 

Otonomo
Technologies Ltd.

(the
“Company”) 

 

Proxy

For
an Extraordinary General Meeting of the Shareholders of the Company

 

Capitalized terms
used and not otherwise defined herein, shall have the respective meanings ascribed to them under the Notice of an Extraordinary
General Meeting dated __, 2021, to which this Proxy was attached, or under the Business Combination Agreement dated January 31,
2021 by and between the Company, Software Acquisition Group Inc. II, a Delaware corporation, and Butterbur Merger Sub Inc., a Delaware
corporation (as amended, supplemented, restated or otherwise modified from time to time, the “Business Combination Agreement.”

 

The Company Shares
represented by this proxy, when properly executed, will be voted or withheld from voting on any ballot that may be called for,
in the manner directed herein by the undersigned shareholder. If a choice is specified with respect to any matter to be acted upon,
the Company Shares shall be voted or withheld from voting accordingly. Where no instruction is given in respect to any matter
to be acted upon, the Company Shares represented hereby shall, on any ballot that may be called for, be voted FOR the adoption
of all such matters.

 

This proxy confers
upon the Proxy Holder (as defined below) discretionary authority with respect to such other business as may properly come before
the Meeting or postponements of adjournments thereof.

 

The
undersigned (the “Shareholder”), being the holder of [ ● ]
ordinary shares of no par value (“Company Ordinary Shares”) of Otonomo Technologies Ltd. (the “Company”)[,]
[ ● ] Seed Preferred Shares of the Company, with no par value (“Company
Seed Preferred Shares”)[,] [ ● ] Series A Preferred Shares
of the Company, with no par value (“Company Preferred A Shares”)[,] [ ● ]
Series B Preferred Shares of the Company, with no par value (“Company Preferred B Shares”)[,] [ ● ]
Series C Preferred Shares of the Company, with no par value (“Company Preferred C Shares”) [,] [ ● ]
Series C-1 Preferred Shares of the Company, with no par value (“Company Preferred C-1 Shares” and, together
with the Company Seed Preferred Shares, Company Preferred A Shares, the Company Preferred B Shares and the Company Preferred C
Shares the “Company Preferred Shares”)), acting pursuant to [ ● ]
of the Companies Law, 5759-1999, does hereby irrevocably authorize Mr. __________ (the “Proxy Holder”) to represent
the Shareholder and vote all of the [Company Ordinary Shares] [and] [Company Preferred Shares] held by the Shareholder, on behalf
and in the name of the Shareholder, at the Meeting, and at any postponements or adjournments thereof, in favor of the following
resolutions:

 

    1

     

    

 

Business
Combination AGREEMENT

 

WHEREAS, the Company has entered into a
Business Combination Agreement, dated as of January 31, 2021 (the “Business Combination Agreement”),
by and among the Company, Software Acquisition Group Inc. II, a Delaware corporation (“SPAC”) and Butterbur
Merger Sub Inc., a Delaware corporation (“Merger Sub”), a copy of which has been provided to the undersigned
Shareholder (capitalized terms used herein without definition shall have the respective meaning ascribed to them in the Business
Combination Agreement);

 

WHEREAS,
pursuant to the Business Combination Agreement, Merger Sub will be merged with and into SPAC (the “Merger”),
with SPAC continuing as the surviving corporation of the Merger, upon the terms and subject to the conditions set forth in the
Business Combination Agreement;

 

WHEREAS,
the Company Board has (a) approved the Business Combination Agreement, the Ancillary Documents to which the Company
is or will be a party and the transactions contemplated thereby (including the Merger) and (b) recommended, among other things,
the approval of the Company Preferred Shareholder Proposals and the Company Shareholder Proposals, in each case by written consent;
and

 

[WHEREAS,
(a) the affirmative vote of the holders of at least a majority of the issued and outstanding
Company Preferred Shares, voting together as a single class on an as converted to Company Ordinary Shares basis, in favor of (i)
the adoption and approval of the Business Combination Agreement and the Transactions (ii)
the adoption and approval of the proposal to convert the Company Preferred Shares into Company Ordinary Shares, (iii) the proposal
to increase the size of the Company Board, (iv) the adoption and approval of a proposal to terminate each Company Investor Agreement
requiring consent of the Company Preferred Shareholders, (v) the adoption of the Company A&R Articles of Association, (vi)
the waiver of preemptive rights set forth in the Company Charter Documents, (vii) the waiver of first refusal and co-sale rights
set forth in the Company’s Governing Documents in connection with the sale and transfer by the Secondary Sellers of Company
Ordinary Shares to the Secondary Purchasers under the Secondary Purchase Agreements, and (viii) the adoption and approval of each
other proposal reasonably agreed to by the Company and SPAC as necessary and appropriate in connection with the consummation of
the Transactions that would require the approval of all or certain holders of Company Preferred Shares (collectively, the “Company
Preferred Shareholder Proposals”), is required pursuant to the Amended and Restated Articles of Association of the Company,
dated as of [ ● ], 2021 (the “Company Articles”)
and the applicable Company Investor Agreement, upon the terms and subject to the conditions set forth in the Business Combination
Agreement, and (b) the affirmative vote of the holders of Company Shares holding more than fifty percent (50%) of the then issued
and outstanding Company Shares, on an as-converted basis, in favor of (i) the adoption and approval of the Business Combination
Agreement and the Transactions, (ii) the adoption and approval of the proposal to convert the Company Preferred Shares into Company
Ordinary Shares, (iii) the proposal to increase the size of the Company Board (iv) the adoption and
approval of a proposal to terminate each Company Investor Agreement requiring consent of the Company Shareholders, (v) the adoption
of the Company A&R Articles of Association, and (vi) the adoption and approval of each other proposal reasonably agreed to
by the Company and SPAC as necessary and appropriate in connection with the consummation of the Transactions that would require
the approval of all or certain holders of Company Shares (collectively, the “Company Shareholder Proposals”),
is required pursuant to the Company Articles, upon the terms and subject to the conditions set forth in the Business Combination
Agreement; now, therefore, be it]

 

    2

     

    

 

RESOLVED, that the undersigned Shareholder
hereby votes [all of the Company Ordinary Shares] [and] [all of the Company Preferred Shares] held by the Shareholder in favor
of the [Company Preferred Shareholder Proposals] [and the] [Company Shareholder Proposals]; and

 

FURTHER RESOLVED, that the undersigned Shareholder
hereby waives any and all irregularities of notice, with respect to the time and place of meeting, and consents to the transaction
of all business represented by this written consent.

 

	 	 	 	 	 	 	 
	SHAREHOLDER* (please PRINT name)	 	SIGNATURE	 	NAME & TITLE  (for corporate entities)	 	DATE

 

* If this proxy represents shares held
by more than one person/entity, please list all such entities or provide separate proxies.

 

You
are kindly requested to complete, date and sign the enclosed proxy and deliver it to the Company at your earliest convenience,
but in any event prior to the time appointed for the Meeting, by email to [______].

 

3Exhibit
4.1

 

NXT-ID,
INC.

Warrant
To Purchase Common Stock

 

Warrant
No.: [●]

Number
of Shares of Common Stock: [●]

Date
of Issuance: February [__], 2021 (“Issuance Date”)

 

Nxt-ID,
Inc., a company organized under the laws of Delaware (the “Company”), hereby certifies that, for good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, [●],
the registered holder hereof or its permitted assigns (the “Holder”), is entitled, subject to the terms set
forth below, to purchase from the Company, at the Exercise Price (as defined below) then in effect, at any time or times on or
after February [__], 2021 (the “Initial Exercisability Date”), but not after 11:59 p.m., New York time, on
the Expiration Date, (as defined below), up to [●]1 fully paid non-assessable shares of Common Stock (as defined
below), subject to adjustment as provided herein (the “Warrant Shares”). Except as otherwise defined herein,
capitalized terms in this Warrant to Purchase Common Stock (including any Warrants to Purchase Common Stock issued in exchange,
transfer or replacement hereof, this “Warrant”), shall have the meanings set forth in Section 17. This Warrant
is one of the Warrants to Purchase Common Stock (the “Warrants”) issued pursuant to (i) that certain Securities
Purchase Agreement, dated as of January 29, 2021 (the “Subscription Date”) by and between the Company and the
purchasers signatory thereto, (ii) the Company’s Registration Statement on Form S-3 (File No. 333-228624) (the “Registration
Statement”). This Warrant shall initially be in certificated form.

 

 

 

		1 	All
Registered Warrants to be exercisable for an aggregate of [1,000,000] shares of Common Stock.

 

     

     

    

 

1. EXERCISE
OF WARRANT.

 

(a) Mechanics
of Exercise. Subject to the terms and conditions hereof (including, without limitation, the limitations set forth in Section
1(f)), this Warrant may be exercised by the Holder at any time or times on or after the Initial Exercisability Date, in whole
or in part, by delivery (whether via facsimile, electronic mail or otherwise) of a written notice, in the form attached hereto
as Exhibit A (the “Exercise Notice”), of the Holder’s election to exercise this Warrant.
Within one (1) Trading Day following the delivery of the Exercise Notice, the Holder shall make payment to the Company of an amount
equal to the Exercise Price in effect on the date of such exercise multiplied by the number of Warrant Shares as to which this
Warrant is being exercised (the “Aggregate Exercise Price”) in cash by wire transfer of immediately available
funds or, if the provisions of Section 1(d) are applicable, by notifying the Company that this Warrant is being exercised pursuant
to a Cashless Exercise (as defined in Section 1(d)). The Holder shall not be required to deliver the original Warrant in order
to effect an exercise hereunder, nor shall any ink-original signature or medallion guarantee (or other type of guarantee or notarization)
with respect to any Exercise Notice be required. Execution and delivery of the Exercise Notice with respect to less than all of
the Warrant Shares shall have the same effect as cancellation of the original Warrant and issuance of a new Warrant evidencing
the right to purchase the remaining number of Warrant Shares and the Holder shall not be required to physically surrender this
Warrant to the Company until the Holder has purchased all of the Warrant Shares available hereunder and the Warrant has been exercised
in full, in which case, the Holder shall surrender this Warrant to the Company for cancellation within three (3) Trading Days
of the date on which the final Exercise Notice is delivered to the Company. On or before the first (1st) Trading Day
following the date on which the Holder has delivered the applicable Exercise Notice, the Company shall transmit by facsimile or
electronic mail an acknowledgment of confirmation of receipt of the Exercise Notice, in the form attached to the Exercise Notice,
to the Holder and the Company’s transfer agent (the “Transfer Agent”). So long as the Holder delivers
the Aggregate Exercise Price (or notice of a Cashless Exercise) on or prior to the first (1st) Trading Day following
the date on which the Exercise Notice has been delivered to the Company, then on or prior to the earlier of (i) the second (2nd)
Trading Day and (ii) the number of Trading Days comprising the Standard Settlement Period, in each case following the date on
which the Exercise Notice has been delivered to the Company, or, if the Holder does not deliver the Aggregate Exercise Price (or
notice of a Cashless Exercise) on or prior to the first (1st) Trading Day following the date on which the Exercise
Notice has been delivered to the Company, then on or prior to the first (1st) Trading Day following the date on which
the Aggregate Exercise Price (or notice of a Cashless Exercise) is delivered (such earlier date, the “Share Delivery
Date”), the Company shall (X) provided that the Transfer Agent is participating in The Depository Trust Company (“DTC”)
Fast Automated Securities Transfer Program, credit such aggregate number of Warrant Shares to which the Holder is entitled pursuant
to such exercise to the Holder’s or its designee’s balance account with DTC through its Deposit / Withdrawal At Custodian
system, or (Y) if the Transfer Agent is not participating in the DTC Fast Automated Securities Transfer Program, issue and dispatch
by overnight courier to the address as specified in the Exercise Notice, a certificate, registered in the name of the Holder or
its designee, for the number of Warrant Shares to which the Holder is entitled pursuant to such exercise. If the Company fails
for any reason to deliver to such registered holder or Participant, as the case may be, the Warrant Shares subject to an exercise
notice by the Share Delivery Date, the Company shall pay to the registered holder, in cash, as liquidated damages and not as a
penalty, for each $1,000 of Warrant Shares subject to such exercise (based on the Weighted Average Price of the Common Stock on
the date of the applicable exercise notice), $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 Share Delivery Date until such Warrant Shares are delivered
or the registered holder rescinds such exercise. The Company shall be responsible for all fees and expenses of the Transfer Agent
and all fees and expenses with respect to the issuance of Warrant Shares via DTC, if any, including without limitation for same
day processing. Upon delivery of the Exercise Notice, the Holder shall be deemed for all corporate purposes to have become the
holder of record and beneficial owner of the Warrant Shares with respect to which this Warrant has been exercised, irrespective
of the date such Warrant Shares are credited to the Holder’s DTC account or the date of delivery of the certificates evidencing
such Warrant Shares, as the case may be. If this Warrant is physically delivered to the Company in connection with any exercise
pursuant to this Section 1(a) and the number of Warrant Shares represented by this Warrant submitted for exercise is greater than
the number of Warrant Shares being acquired upon an exercise, then the Company shall as soon as practicable and in no event later
than three (3) Trading Days after any exercise and at its own expense, issue and deliver to the Holder (or its designee) a new
Warrant (in accordance with Section 7(d)) representing the right to purchase the number of Warrant Shares issuable immediately
prior to such exercise under this Warrant, less the number of Warrant Shares with respect to which this Warrant is exercised.
No fractional Warrant Shares are to be issued upon the exercise of this Warrant, but rather the Company shall, at its election,
either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the Exercise
Price or round up to the next whole share. The Company shall pay any and all transfer, stamp, issuance and similar taxes, costs
and expenses (including, without limitation, fees and expenses of the Transfer Agent) which may be payable with respect to the
issuance and delivery of Warrant Shares upon exercise of this Warrant. The Company’s obligations to issue and deliver Warrant
Shares in accordance with the terms and subject to the conditions hereof are absolute and unconditional, irrespective of any action
or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any
judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination; provided, however,
that the Company shall not be required to deliver Warrant Shares with respect to an exercise prior to the Holder’s delivery
of the Aggregate Exercise Price (or notice of a Cashless Exercise) with respect to such exercise.

 

    2

     

    

 

(b) Exercise
Price. For purposes of this Warrant, “Exercise Price” means $1.23 per share, subject to adjustment as provided
herein.

 

(c) Company’s
Failure to Timely Deliver Securities. If either (I) the Company shall fail for any reason or for no reason on or prior to
the applicable Share Delivery Date, (x) if the Transfer Agent is not participating in the DTC Fast Automated Securities Transfer
Program, to issue to the Holder a certificate for the number of shares of Common Stock to which the Holder is entitled and register
such Common Stock on the Company’s share register or (y) if the Transfer Agent is participating in the DTC Fast Automated
Securities Transfer Program, to credit the Holder’s balance account with DTC, for such number of shares of Common Stock
to which the Holder is entitled upon the Holder’s exercise of this Warrant or (II) a registration statement (which may be
the Registration Statement) covering the issuance or resale of the Warrant Shares that are the subject of the Exercise Notice
(the “Exercise Notice Warrant Shares”) is not available for the issuance or resale, as applicable, of such
Exercise Notice Warrant Shares and (x) the Company fails to promptly, but in no event later than one (1) Business Day after such
registration statement becomes unavailable, to so notify the Holder and (y) the Company is unable to deliver the Exercise Notice
Warrant Shares electronically without any restrictive legend by crediting such aggregate number of Exercise Notice Warrant Shares
to the Holder’s or its designee’s balance account with DTC through its Deposit / Withdrawal At Custodian system (the
event described in the immediately foregoing clause (II) is hereinafter referred to as a “Notice Failure” and,
together with the event described in clause (I) above, an “Exercise Failure”), then, in addition to all other
remedies available to the Holder, if on or prior to the applicable Share Delivery Date either (I) if the Transfer Agent is not
participating in the DTC Fast Automated Securities Transfer Program, the Company shall fail to issue and deliver a certificate
to the Holder and register such shares of Common Stock on the Company’s share register or, if the Transfer Agent is participating
in the DTC Fast Automated Securities Transfer Program, credit the Holder’s balance account with DTC for the number of shares
of Common Stock to which the Holder is entitled upon the Holder’s exercise hereunder or pursuant to the Company’s
obligation pursuant to clause (ii) below or (II) a Notice Failure occurs, and if on or after such Trading Day the Holder purchases
(in an open market transaction or otherwise) Common Stock to deliver in satisfaction of a sale by the Holder of shares of Common
Stock issuable upon such exercise that the Holder anticipated receiving from the Company (a “Buy-In”), then
the Company shall, within three (3) Trading Days after the Holder’s request and in the Holder’s discretion, either
(i) pay cash to the Holder in an amount equal to the Holder’s total purchase price (including brokerage commissions and
other out-of-pocket expenses, if any) for the shares of Common Stock so purchased (the “Buy-In Price”), at
which point the Company’s obligation to deliver such certificate (and to issue such shares of Common Stock) or credit such
Holder’s balance account with DTC for such shares of Common Stock shall terminate, or (ii) promptly honor its obligation
to deliver to the Holder a certificate or certificates representing such shares of Common Stock or credit such Holder’s
balance account with DTC, as applicable, and pay cash to the Holder in an amount equal to the excess (if any) of the Buy-In Price
over the product of (A) such number of shares of Common Stock, times (B) any trading price of the Common Stock selected by the
Holder in writing as in effect at any time during the period beginning on the applicable Exercise Date and ending on the applicable
Share Delivery Date. Nothing shall limit the 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 Warrant Shares (or to electronically deliver such Warrant Shares) upon the
exercise of this Warrant as required pursuant to the terms hereof. While this Warrant is outstanding, the Company shall cause
its transfer agent to participate in the DTC Fast Automated Securities Transfer Program. In addition to the foregoing rights,
(i) if the Company fails to deliver the applicable number of Warrant Shares upon an exercise pursuant to Section 1 by the applicable
Share Delivery Date, then the Holder shall have the right to rescind such exercise in whole or in part and retain and/or have
the Company return, as the case may be, any portion of this Warrant that has not been exercised pursuant to such Exercise Notice;
provided that the rescission of an exercise shall not affect the Company’s obligation to make any payments that have accrued
prior to the date of such notice pursuant to this Section 1(c) or otherwise, and (ii) if a registration statement (which may be
the Registration Statement) covering the issuance or resale of the Warrant Shares that are subject to an Exercise Notice is not
available for the issuance or resale, as applicable, of such Exercise Notice Warrant Shares and the Holder has submitted an Exercise
Notice prior to receiving notice of the non-availability of such registration statement and the Company has not already delivered
the Warrant Shares underlying such Exercise Notice electronically without any restrictive legend by crediting such aggregate number
of Warrant Shares to which the Holder is entitled pursuant to such exercise to the Holder’s or its designee’s balance
account with DTC through its Deposit / Withdrawal At Custodian system, the Holder shall have the option, by delivery of notice
to the Company, to (x) rescind such Exercise Notice in whole or in part and retain or have returned, as the case may be, any portion
of this Warrant that has not been exercised pursuant to such Exercise Notice; provided that the rescission of an Exercise Notice
shall not affect the Company’s obligation to make any payments that have accrued prior to the date of such notice pursuant
to this Section 1(c) or otherwise, and/or (y) switch some or all of such Exercise Notice from a cash exercise to a Cashless Exercise.

 

    3

     

    

 

(d) Cashless
Exercise. If at any time during the term of this Warrant, there is no effective registration statement registering, or no
current prospectus available for, the issuance or resale of the Warrant Shares by the Holder, then the Holder may, in its sole
discretion, exercise this Warrant, in whole or in part, at such time by means of a “cashless exercise” in which the
Holder shall be entitled to receive a number of Warrant Shares determined according to the following formula (a “Cashless
Exercise”):

 

	 	Net
Number = (A x B) - (A x C)
	 	B

 

For
purposes of the foregoing formula:

 

	 	A
    =	the total number
    of shares with respect to which this Warrant is then being exercised.
	 	 	 
	 	B
    =	as applicable: (i)
    the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the date of the applicable Exercise Notice
    if such Exercise Notice is (1) both executed and delivered pursuant to Section 1(a) hereof on a day that is not a Trading
    Day or (2) both executed and delivered pursuant to Section 1(a) hereof on a Trading Day prior to the opening of “regular
    trading hours” (as defined in Rule 600(b)(64) of Regulation NMS promulgated under the federal securities laws) on such
    Trading Day, (ii) at the option of the Holder, either (y) the Weighted Average Price on the Trading Day immediately preceding
    the date of the applicable Notice of Exercise or (z) the Bid Price of the Common Stock as of the time of the Holder’s
    execution of the applicable Exercise Notice if such Exercise Notice is executed during “regular trading hours”
    on a Trading Day and is delivered within two (2) hours thereafter (including until two (2) hours after the close of “regular
    trading hours” on a Trading Day) pursuant to Section 1(a) hereof or (iii) the Closing Sale Price of the Common Stock
    on the date of the applicable Exercise Notice if the date of such Exercise Notice is a Trading Day and such Exercise Notice
    is both executed and delivered pursuant to Section 1(a) hereof after the close of “regular trading hours” on such
    Trading Day.
	 	 	 
	 	C
    =	the Exercise Price
    then in effect for the applicable Warrant Shares at the time of such exercise.

 

If
Warrant Shares are issued in such a cashless exercise, the Company acknowledges and agrees that in accordance with Section 3(a)(9)
of the Securities Act of 1933, as amended, the Warrant Shares shall take on the registered characteristics of the Warrants being
exercised, and the holding period of the Warrants being exercised may be tacked on to the holding period of the Warrant Shares.
The Company agrees not to take any position contrary to this Section 1(d).

 

(e) Disputes.
In the case of a dispute as to the determination of the Exercise Price or the arithmetic calculation of the Warrant Shares, the
Company shall promptly issue to the Holder the number of Warrant Shares that are not disputed and resolve such dispute in accordance
with Section 11.

 

    4

     

    

 

(f) Beneficial
Ownership. Notwithstanding anything to the contrary contained herein, the Company shall not effect the exercise of any portion
of this Warrant, and the Holder shall not have the right to exercise any portion of this Warrant, pursuant to the terms and conditions
of this Warrant and any such exercise shall be null and void and treated as if never made, to the extent that after giving effect
to such exercise, the Holder together with the other Attribution Parties collectively would beneficially own in excess of 4.99%
(or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) (the “Maximum Percentage”) of
the number of shares of Common Stock outstanding immediately after giving effect to such exercise. For purposes of the foregoing
sentence, the aggregate number of shares of Common Stock beneficially owned by the Holder and the other Attribution Parties shall
include the number of shares of Common Stock held by the Holder and all other Attribution Parties plus the number of shares of
Common Stock issuable upon exercise of this Warrant with respect to which the determination of such sentence is being made, but
shall exclude the number of shares of Common Stock which would be issuable upon (A) exercise of the remaining, unexercised portion
of this Warrant beneficially owned by the Holder or any of the other Attribution Parties and (B) exercise or conversion of the
unexercised or unconverted portion of any other securities of the Company (including, without limitation, any convertible notes
or convertible preferred stock or warrants, including the other Warrants) beneficially owned by the Holder or any other Attribution
Party subject to a limitation on conversion or exercise analogous to the limitation contained in this Section 1(f). For purposes
of this Section 1(f), beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act
of 1934, as amended (the “1934 Act”). For purposes of this Warrant, in determining the number of outstanding
shares of Common Stock the Holder may acquire upon the exercise of this Warrant without exceeding the Maximum Percentage, the
Holder may rely on the number of outstanding shares of Common Stock as reflected in (x) the Company’s most recent Annual
Report on Form 10-K, Quarterly Report on Form 10-Q and Current Reports on Form 8-K or other public filing with the Securities
and Exchange Commission (the “SEC”), as the case may be, (y) a more recent public announcement by the Company
or (z) any other written notice by the Company or the Transfer Agent setting forth the number of shares of Common Stock outstanding
(the “Reported Outstanding Share Number”). If the Company receives an Exercise Notice from the Holder at a
time when the actual number of outstanding shares of Common Stock is less than the Reported Outstanding Share Number, the Company
shall (i) notify the Holder in writing of the number of shares of Common Stock then outstanding and, to the extent that such Exercise
Notice would otherwise cause the Holder’s beneficial ownership, as determined pursuant to this Section 1(f), to exceed the
Maximum Percentage, the Holder must notify the Company of a reduced number of Warrant Shares to be purchased pursuant to such
Exercise Notice (the number of shares by which such purchase is reduced, the “Reduction Shares”) and (ii) as
soon as reasonably practicable, the Company shall return to the Holder any exercise price paid by the Holder for the Reduction
Shares. For any reason at any time, upon the written or oral request of the Holder, the Company shall within one (1) Business
Day confirm orally and in writing or by electronic mail to the Holder the number of shares of Common Stock then outstanding. In
any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise
of securities of the Company, including this Warrant, by the Holder and any other Attribution Party since the date as of which
the Reported Outstanding Share Number was reported. In the event that the issuance of Common Stock to the Holder upon exercise
of this Warrant results in the Holder and the other Attribution Parties being deemed to beneficially own, in the aggregate, more
than the Maximum Percentage of the number of outstanding shares of Common Stock (as determined under Section 13(d) of the 1934
Act), the number of shares so issued by which the Holder’s and the other Attribution Parties’ aggregate beneficial
ownership exceeds the Maximum Percentage (the “Excess Shares”) shall be deemed null and void and shall be cancelled
ab initio, and the Holder shall not have the power to vote or to transfer the Excess Shares. As soon as reasonably practicable
after the issuance of the Excess Shares has been deemed null and void, the Company shall return to the Holder the exercise price
paid by the Holder for the Excess Shares. Upon delivery of a written notice to the Company, the Holder may from time to time increase
or decrease the Maximum Percentage to any other percentage not in excess of 9.99% or such higher percentage as specified in such
notice; provided that (i) any such increase in the Maximum Percentage will not be effective until the sixty-first (61st)
day after such notice is delivered to the Company and (ii) any such increase or decrease will apply only to the Holder and the
other Attribution Parties and not to any other holder of Warrants that is not an Attribution Party of the Holder. For purposes
of clarity, the shares of Common Stock issuable pursuant to the terms of this Warrant in excess of the Maximum Percentage shall
not be deemed to be beneficially owned by the Holder for any purpose including for purposes of Section 13(d) or Rule 16a-1(a)(1)
of the 1934 Act. No prior inability to exercise this Warrant pursuant to this paragraph shall have any effect on the applicability
of the provisions of this paragraph with respect to any subsequent determination of exercisability. The provisions of this paragraph
shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 1(f) to the
extent necessary to correct this paragraph or any portion of this paragraph which may be defective or inconsistent with the intended
beneficial ownership limitation contained in this Section 1(f) or to make changes or supplements necessary or desirable to properly
give effect to such limitation. The limitation contained in this paragraph may not be waived and shall apply to a successor holder
of this Warrant.

 

    5

     

    

 

(g) Required
Reserve Amount. So long as this Warrant remains outstanding, the Company shall at all times keep reserved for issuance under
this Warrant a number of shares of Common Stock at least equal to 100% of the maximum number of shares of Common Stock as shall
be necessary to satisfy the Company’s obligation to issue shares of Common Stock under the Warrants then outstanding (without
regard to any limitations on exercise) (the “Required Reserve Amount”); provided that at no
time shall the number of shares of Common Stock reserved pursuant to this Section 1(g) be reduced other than in connection with
any exercise of Warrants or such other event covered by Section 2(c) below. The Required Reserve Amount (including, without limitation,
each increase in the number of shares so reserved) shall be allocated pro rata among the holders of the Warrants based on the
number of shares of Common Stock issuable upon exercise of Warrants held by each holder thereof on the Issuance Date (without
regard to any limitations on exercise) (the “Authorized Share Allocation”). In the event that a holder shall
sell or otherwise transfer any of such holder’s Warrants, each transferee shall be allocated a pro rata portion of such
holder’s Authorized Share Allocation. Any shares of Common Stock reserved and allocated to any Person which ceases to hold
any Warrants shall be allocated to the remaining holders of Warrants, pro rata based on the number of shares of Common Stock issuable
upon exercise of the Warrants then held by such holders thereof (without regard to any limitations on exercise).

 

(h) Insufficient
Authorized Shares. If at any time while this Warrant remains outstanding the Company does not have a sufficient number of
authorized and unreserved shares of Common Stock to satisfy its obligation to reserve for issuance the Required Reserve Amount
(an “Authorized Share Failure”), then the Company shall promptly take all action reasonably necessary to increase
the Company’s authorized shares of Common Stock to an amount sufficient to allow the Company to reserve the Required Reserve
Amount for this Warrant then outstanding. Without limiting the generality of the foregoing sentence, as soon as practicable after
the date of the occurrence of an Authorized Share Failure, but in no event later than ninety (90) days after the occurrence of
such Authorized Share Failure, the Company shall hold a meeting of its stockholders for the approval of an increase in the number
of authorized shares of Common Stock. In connection with such meeting, the Company shall provide each stockholder with a proxy
statement and shall use its reasonable best efforts to solicit its stockholders’ approval of such increase in authorized
shares of Common Stock and to cause its board of directors to recommend to the stockholders that they approve such proposal. Notwithstanding
the foregoing, if any such time of an Authorized Share Failure, the Company is able to obtain the written consent of a majority
of the shares of its issued and outstanding shares of Common Stock to approve the increase in the number of authorized shares
of Common Stock, the Company may satisfy this obligation by obtaining such consent and submitting for filing with the SEC an Information
Statement on Schedule 14C.

 

    6

     

    

 

2. ADJUSTMENT
OF EXERCISE PRICE AND NUMBER OF WARRANT SHARES. The Exercise Price and the number of Warrant Shares shall be adjusted from
time to time as follows:

 

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

 

(b) Reserved.

  

(c) Adjustment
Upon Subdivision or Combination of Common Stock. If the Company at any time on or after the Subscription Date subdivides (by
any stock split, stock dividend, recapitalization or otherwise) one or more classes of its outstanding shares of Common Stock
into a greater number of shares, the Exercise Price in effect immediately prior to such subdivision will be proportionately reduced
and the number of Warrant Shares will be proportionately increased. If the Company at any time on or after the Subscription Date
combines (by combination, reverse stock split or otherwise) one or more classes of its outstanding shares of Common Stock into
a smaller number of shares, the Exercise Price in effect immediately prior to such combination will be proportionately increased
and the number of Warrant Shares will be proportionately decreased. Any adjustment under this Section 2(c) shall become effective
at the close of business on the date the subdivision or combination becomes effective.

 

(d) Other
Events. If any event occurs of the type contemplated by the provisions of this Section 2 but not expressly provided for by
such provisions (including, without limitation, the granting of stock appreciation rights, phantom stock rights or other rights
with equity features), then the Company’s Board of Directors will make an appropriate adjustment in the Exercise Price and
the number of Warrant Shares, as mutually determined by the Company’s Board of Directors and the Required Holders, so as
to protect the rights of the Holder; provided that no such adjustment pursuant to this Section 2(d) will increase
the Exercise Price or decrease the number of Warrant Shares as otherwise determined pursuant to this Section 2.

 

3. RIGHTS
UPON DISTRIBUTION OF ASSETS. In addition to any adjustments pursuant to Section 2 above, if, on or after the Subscription
Date and on or prior to the Expiration Date, the Company shall declare or make any dividend or other distribution of its assets
(or rights to acquire its assets) to holders of shares of Common Stock, by way of return of capital or otherwise (including, without
limitation, any distribution of cash, stock or other securities, property, options, evidence of indebtedness or any other assets
by way of a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction)
(a “Distribution”), at any time after the issuance of this Warrant, then, in each such case, the Holder shall
be entitled to participate in such Distribution to the same extent that the Holder would have participated therein if the Holder
had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to any limitations
or restrictions on exercise of this Warrant, including without limitation, the Maximum Percentage) immediately before the date
on which a record is taken for such Distribution, or, if no such record is taken, the date as of which the record holders of shares
of Common Stock are to be determined for the participation in such Distribution (provided, however, that to
the extent that the Holder’s right to participate in any such Distribution would result in the Holder and the other Attribution
Parties exceeding the Maximum Percentage, then the Holder shall not be entitled to participate in such Distribution to such extent
(and shall not be entitled to beneficial ownership of such shares of Common Stock as a result of such Distribution (and beneficial
ownership) to such extent) and the portion of such Distribution shall be held in abeyance for the benefit of the Holder until
such time or times as its right thereto would not result in the Holder and the other Attribution Parties exceeding the Maximum
Percentage, at which time or times the Holder shall be granted such Distribution (and any Distributions declared or made on such
initial Distribution or on any subsequent Distribution held similarly in abeyance) to the same extent as if there had been no
such limitation).

 

    7

     

    

 

4. PURCHASE
RIGHTS; FUNDAMENTAL TRANSACTIONS.

 

(a) Purchase
Rights. In addition to any adjustments pursuant to Section 2 above, if at any time on or after the Subscription Date and on
or prior to the Expiration Date the Company grants, issues or sells any Options, Convertible Securities or rights to purchase
stock, warrants, securities or other property pro rata to the record holders of any class 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 Warrant (without regard to any limitations or restrictions on exercise of this Warrant, including without
limitation, the Maximum Percentage) 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 Common Stock are to be determined
for the grant, issuance or sale of such Purchase Rights (provided, however, that to the extent that the Holder’s
right to participate in any such Purchase Right would result in the Holder and the other Attribution Parties exceeding the Maximum
Percentage, then the Holder shall not be entitled to participate in such Purchase Right to such extent (and shall not be entitled
to beneficial ownership of such Common Stock as a result of such Purchase Right (and beneficial ownership) to such extent) and
such Purchase Right to such extent shall be held in abeyance for the benefit of the Holder until such time or times as its right
thereto would not result in the Holder and the other Attribution Parties exceeding the Maximum Percentage, at which time or times
the Holder shall be granted such right (and any Purchase Right granted, issued or sold on such initial Purchase Right or on any
subsequent Purchase Right to be held similarly in abeyance) to the same extent as if there had been no such limitation).

  

(b) Fundamental
Transaction. The Company shall not enter into or be party to a Fundamental Transaction unless the Successor Entity assumes
in writing all of the obligations of the Company under this Warrant in accordance with the provisions of this Section 4(b), including
agreements to deliver to the Holder in exchange for this Warrant a security of the Successor Entity evidenced by a written instrument
substantially similar in form and substance to this Warrant, including, without limitation, which is exercisable for a corresponding
number of shares of capital stock equivalent to the shares of Common Stock acquirable and receivable upon exercise of this Warrant
(without regard to any limitations on the exercise of this Warrant) prior to such Fundamental Transaction, and with an exercise
price which applies the exercise price hereunder to such shares of capital stock (but taking into account the relative value of
the shares of Common Stock pursuant to such Fundamental Transaction and the value of such shares of capital stock, such adjustments
to the number of shares of capital stock and such exercise price being for the purpose of protecting the economic value of this
Warrant immediately prior to the consummation of such Fundamental Transaction). Upon the consummation of each Fundamental Transaction,
the Successor Entity shall succeed to, and be substituted for the Company (so that from and after the date of the applicable Fundamental
Transaction, the provisions of this Warrant and the other Transaction Documents referring to the “Company” shall refer
instead to the Successor Entity), and may exercise every right and power of the Company and shall assume all of the obligations
of the Company under this Warrant with the same effect as if such Successor Entity had been named as the Company herein. Upon
consummation of each Fundamental Transaction, the Successor Entity shall deliver to the Holder confirmation that there shall be
issued upon exercise of this Warrant at any time after the consummation of the applicable Fundamental Transaction, in lieu of
the shares of Common Stock (or other securities, cash, assets or other property (except such items still issuable under Sections
3 and 4(a) above, which shall continue to be receivable thereafter)) issuable upon the exercise of this Warrant prior to the applicable
Fundamental Transaction, such shares of common stock (or its equivalent) of the Successor Entity (including its Parent Entity)
which the Holder would have been entitled to receive upon the happening of the applicable Fundamental Transaction had this Warrant
been exercised immediately prior to the applicable Fundamental Transaction (without regard to any limitations on the exercise
of this Warrant), as adjusted in accordance with the provisions of this Warrant. Notwithstanding the foregoing, and without limiting
Section 1(f) hereof, the Holder may elect, at its sole option, by delivery of written notice to the Company to waive this Section
4(b) to permit the Fundamental Transaction without the assumption of this Warrant. In addition to and not in substitution for
any other rights hereunder, prior to the consummation of each Fundamental Transaction pursuant to which holders of shares of Common
Stock are entitled to receive securities or other assets with respect to or in exchange for shares of Common Stock (a “Corporate
Event”), the Company shall make appropriate provision to insure that the Holder will thereafter have the right to receive
upon an exercise of this Warrant at any time after the consummation of the applicable Fundamental Transaction but prior to the
Expiration Date, in lieu of the shares of the Common Stock (or other securities, cash, assets or other property (except such items
still issuable under Sections 3 and 4(a) above, which shall continue to be receivable thereafter)) issuable upon the exercise
of the Warrant prior to such Fundamental Transaction, such shares of stock, securities, cash, assets or any other property whatsoever
(including warrants or other purchase or subscription rights) (collectively, the “Corporate Event Consideration”)
which the Holder would have been entitled to receive upon the happening of the applicable Fundamental Transaction had this Warrant
been exercised immediately prior to the applicable Fundamental Transaction (without regard to any limitations on the exercise
of this Warrant). The provision made pursuant to the preceding sentence shall be in a form and substance reasonably satisfactory
to the Required Holders.

 

    8

     

    

 

5. NONCIRCUMVENTION.
The Company hereby covenants and agrees that the Company will not, by amendment of its Certificate of Incorporation or Bylaws,
or through any reorganization, transfer of assets, consolidation, merger, scheme of arrangement, dissolution, issuance or sale
of securities, or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this
Warrant, and will at all times in good faith carry out all of the provisions of this Warrant and take all action as may be required
to protect the rights of the Holder. Without limiting the generality of the foregoing, the Company (i) shall not increase the
par value of any shares of Common Stock receivable upon the exercise of this Warrant above the Exercise Price then in effect,
(ii) shall take all such actions as may be necessary or appropriate in order that the Company may validly and legally issue fully
paid and nonassessable shares of Common Stock upon the exercise of this Warrant, and (iii) shall, so long as any of the Warrants
are outstanding, take all action necessary to reserve and keep available out of its authorized and unissued shares of Common Stock,
solely for the purpose of effecting the exercise of the Warrants, the number of shares of Common Stock as shall from time to time
be necessary to effect the exercise of the Warrants then outstanding (without regard to any limitations on exercise).

  

6. WARRANT
HOLDER NOT DEEMED A STOCKHOLDER. Except as otherwise specifically provided herein, the Holder, solely in such Person’s
capacity as a holder of this Warrant, shall not be entitled to vote or receive dividends or be deemed the holder of capital stock
of the Company for any purpose, nor shall anything contained in this Warrant be construed to confer upon the Holder, solely in
such Person’s capacity as the Holder of this Warrant, any of the rights of a stockholder of the Company or any right to
vote, give or withhold consent to any corporate action (whether any reorganization, issue of stock, reclassification of stock,
consolidation, merger, conveyance or otherwise), receive notice of meetings, receive dividends or subscription rights, or otherwise,
prior to the issuance to the Holder of the Warrant Shares which such Person is then entitled to receive upon the due exercise
of this Warrant. In addition, nothing contained in this Warrant shall be construed as imposing any liabilities on the Holder to
purchase any securities (upon exercise of this Warrant or otherwise) or as a stockholder of the Company, whether such liabilities
are asserted by the Company or by creditors of the Company. Notwithstanding this Section 6, the Company shall provide the Holder
with copies of the same notices and other information given to the stockholders of the Company generally, contemporaneously with
the giving thereof to the stockholders.

 

7. REISSUANCE
OF WARRANTS.

 

(a) Transfer
of Warrant. If this Warrant is to be transferred, the Holder shall surrender this Warrant to the Company, whereupon the Company
will forthwith issue and deliver upon the order of the Holder a new Warrant (in accordance with Section 7(d)), registered as the
Holder may request, representing the right to purchase the number of Warrant Shares being transferred by the Holder and, if less
than the total number of Warrant Shares then underlying this Warrant is being transferred, a new Warrant (in accordance with Section
7(d)) to the Holder representing the right to purchase the number of Warrant Shares not being transferred.

 

(b) Lost,
Stolen or Mutilated Warrant. Upon receipt by the Company of evidence reasonably satisfactory to the Company of the loss, theft,
destruction or mutilation of this Warrant, and, in the case of loss, theft or destruction, of any indemnification undertaking
by the Holder to the Company in customary form (but without the obligation to post a bond) and, in the case of mutilation, upon
surrender and cancellation of this Warrant, the Company shall execute and deliver to the Holder a new Warrant (in accordance with
Section 7(d)) representing the right to purchase the Warrant Shares then underlying this Warrant.

 

    9

     

    

 

(c) Exchangeable
for Multiple Warrants. This Warrant is exchangeable, upon the surrender hereof by the Holder at the principal office of the
Company, for a new Warrant or Warrants (in accordance with Section 7(d)) representing in the aggregate the right to purchase the
number of Warrant Shares then underlying this Warrant, and each such new Warrant will represent the right to purchase such portion
of such Warrant Shares as is designated by the Holder at the time of such surrender.

 

(d) Issuance
of New Warrants. If this Warrant is not held in global form through DTC (or any successor depository), whenever the Company
is required to issue a new Warrant pursuant to the terms of this Warrant, such new Warrant (i) shall be of like tenor with this
Warrant, (ii) shall represent, as indicated on the face of such new Warrant, the right to purchase the Warrant Shares then underlying
this Warrant (or in the case of a new Warrant being issued pursuant to Section 7(a) or Section 7(c), the Warrant Shares designated
by the Holder which, when added to the number of shares of Common Stock underlying the other new Warrants issued in connection
with such issuance, does not exceed the number of Warrant Shares then underlying this Warrant), (iii) shall have an issuance date,
as indicated on the face of such new Warrant which is the same as the Issuance Date, and (iv) shall have the same rights and conditions
as this Warrant.

 

8. NOTICES.
Whenever notice is required to be given under this Warrant, including, without limitation, an Exercise Notice, unless otherwise
provided herein, such notice shall be given in writing, (i) if delivered (a) from within the domestic United States, by first-class
registered or certified airmail, or nationally recognized overnight express courier, postage prepaid, electronic mail or by facsimile
or (b) from outside the United States, by International Federal Express, electronic mail or facsimile, and (ii) will be deemed
given (A) if delivered by first-class registered or certified mail domestic, three (3) Business Days after so mailed, (B) if delivered
by nationally recognized overnight carrier, one (1) Business Day after so mailed, (C) if delivered by International Federal Express,
two (2) Business Days after so mailed and (D) at the time of transmission, if delivered by electronic mail to each of the email
addresses specified in this Section 8 prior to 5:00 p.m. (New York time) on a Trading Day, (E) the next Trading Day after the
date of transmission, if delivered by electronic mail to each of the email addresses specified in this Section 8 on a day that
is not a Trading Day or later than 5:00 p.m. (New York time) on any Trading Day and (F) if delivered by facsimile, upon electronic
confirmation of receipt of such facsimile, and will be delivered and addressed as follows:

  

(i)
if to the Company, to:

 

Nxt-ID,
Inc.

288 Christian Street

Hangar C 2nd Floor

Oxford, CT 06478

Attention:
Vincent S. Miceli, Chief Executive Officer

Email:
vin@nxt-id.com 

 

With
a copy (for informational purposes only) to:

 

Sullivan
& Worcester LLP

1633
Broadway

New
York, New York 10019

Attention:
David E. Danovitch, Esq.

Fax
No: (212) 660-3001

Email:
ddanovitch@sullivanlaw.com

 

(ii)
if to the Holder, at such address or other contact information delivered by the Holder to Company or as is on the books and records
of the Company.

 

The
Company shall provide the Holder with prompt written notice of all actions taken pursuant to this Warrant, including in reasonable
detail a description of such action and the reason therefor. Without limiting the generality of the foregoing, the Company will
give written notice to the Holder (i) immediately upon any adjustment of the Exercise Price, setting forth in reasonable detail,
and certifying, the calculation of such adjustment and (ii) at least fifteen (15) days prior to the date on which the Company
closes its books or takes a record (A) with respect to any dividend or distribution upon the shares of Common Stock, (B) with
respect to any grants, issuances or sales of any Options, Convertible Securities or rights to purchase stock, warrants, securities
or other property to holders of shares of Common Stock or (C) for determining rights to vote with respect to any Fundamental Transaction,
dissolution or liquidation; provided in each case that such information shall be made known to the public prior
to or in conjunction with such notice being provided to the Holder. It is expressly understood and agreed that the time of exercise
specified by the Holder in each Exercise Notice shall be definitive and may not be disputed or challenged by the Company.

 

    10

     

    

 

9. AMENDMENT
AND WAIVER. Except as otherwise provided herein, the provisions of this Warrant may be amended or waived and the Company may
take any action herein prohibited, or omit to perform any act herein required to be performed by it, only if the Company has obtained
the written consent of the Required Holders.

 

10. GOVERNING
LAW; JURISDICTION; JURY TRIAL. This Warrant shall be governed by and construed and enforced in accordance with, and all questions
concerning the construction, validity, interpretation and performance of this Warrant shall be governed by, the internal laws
of the State of New York, without giving effect to any choice of law or conflict of law provision or rule (whether of the State
of New York or any other jurisdictions) that would cause the application of the laws of any jurisdictions other than the State
of New York. The Company hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in The
City of New York, Borough of Manhattan, for the adjudication of any dispute hereunder or in connection herewith or with any transaction
contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding,
any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is brought
in an inconvenient forum or that the venue of such suit, action or proceeding is improper. The Company hereby irrevocably waives
personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof
to the Company at the address set forth in Section 8(i) above or such other address as the Company subsequently delivers to the
Holder and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained
herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. Nothing contained herein
shall be deemed or operate to preclude the Holder from bringing suit or taking other legal action against the Company in any other
jurisdiction to collect on the Company’s obligations to the Holder, to realize on any collateral or any other security for
such obligations, or to enforce a judgment or other court ruling in favor of the Holder. If either party shall commence an action,
suit or proceeding to enforce any provisions of this Warrant, the prevailing party in such action, suit or proceeding shall be
reimbursed by the other party for their reasonable attorneys’ fees and other costs and expenses incurred with the investigation,
preparation and prosecution of such action or proceeding. THE COMPANY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE,
AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF
THIS WARRANT OR ANY TRANSACTION CONTEMPLATED HEREBY.

  

11. DISPUTE
RESOLUTION. In the case of a dispute as to the determination of the Exercise Price or the arithmetic calculation of the Warrant
Shares, the Company shall submit the disputed determinations or arithmetic calculations via facsimile or electronic mail within
two (2) Business Days of receipt of the Exercise Notice or other event giving rise to such dispute, as the case may be, to the
Holder. If the Holder and the Company are unable to agree upon such determination or calculation of the Exercise Price or the
Warrant Shares within three (3) Business Days of such disputed determination or arithmetic calculation being submitted to the
Holder, then the Company shall, within two (2) Business Days submit via facsimile or electronic mail (a) the disputed determination
of the Exercise Price to an independent, reputable investment bank selected by the Company and approved by the Holder or (b) the
disputed arithmetic calculation of the Warrant Shares to the Company’s independent, outside accountant. The Company shall
cause at its expense the investment bank or the accountant, as the case may be, to perform the determinations or calculations
and notify the Company and the Holder of the results no later than ten (10) Business Days from the time it receives the disputed
determinations or calculations. Such investment bank’s or accountant’s determination or calculation, as the case may
be, shall be binding upon all parties absent demonstrable error.

 

    11

     

    

 

12. REMEDIES,
OTHER OBLIGATIONS, BREACHES AND INJUNCTIVE RELIEF. The remedies provided in this Warrant shall be cumulative and in addition
to all other remedies available under this Warrant and any other Transaction Documents, at law or in equity (including a decree
of specific performance and/or other injunctive relief), and nothing herein shall limit the right of the Holder to pursue actual
damages for any failure by the Company to comply with the terms of this Warrant. The Company acknowledges that a breach by it
of its obligations hereunder will cause irreparable harm to the Holder and that the remedy at law for any such breach may be inadequate.
The Company therefore agrees that, in the event of any such breach or threatened breach, the holder of this Warrant shall be entitled,
in addition to all other available remedies, to an injunction restraining any breach, without the necessity of showing economic
loss and without any bond or other security being required. Notwithstanding the foregoing or anything else herein to the contrary,
other than as expressly provided in Section 1(a), Section 1(c) or Section 2(d) hereof, if the Company is for any reason unable
to issue and deliver Warrant Shares upon exercise of this Warrant as required pursuant to the terms hereof, the Company shall
have no obligation to pay to the holder any cash or other consideration or otherwise “net cash settle” this Warrant;
provided that the foregoing shall not limit or supersede the applicability of Section 4(b) hereof.

 

13. TRANSFER.
This Warrant and the Warrant Shares may be offered for sale, sold, transferred, pledged or assigned without the consent of the
Company.

 

14. SEVERABILITY;
CONSTRUCTION; HEADINGS. If any provision of this Warrant is prohibited by law or otherwise determined to be invalid or unenforceable
by a court of competent jurisdiction, the provision that would otherwise be prohibited, invalid or unenforceable shall be deemed
amended to apply to the broadest extent that it would be valid and enforceable, and the invalidity or unenforceability of such
provision shall not affect the validity of the remaining provisions of this Warrant so long as this Warrant as so modified continues
to express, without material change, the original intentions of the parties as to the subject matter hereof and the prohibited
nature, invalidity or unenforceability of the provision(s) in question does not substantially impair the respective expectations
or reciprocal obligations of the parties or the practical realization of the benefits that would otherwise be conferred upon the
parties. The parties will endeavor in good faith negotiations to replace the prohibited, invalid or unenforceable provision(s)
with a valid provision(s), the effect of which comes as close as possible to that of the prohibited, invalid or unenforceable
provision(s). This Warrant shall be deemed to be jointly drafted by the Company and the Holder and shall not be construed against
any Person as the drafter hereof. The headings of this Warrant are for convenience of reference and shall not form part of, or
affect the interpretation of, this Warrant.

 

15. DISCLOSURE.
Upon receipt or delivery by the Company of any notice in accordance with the terms of this Warrant, unless the Company has in
good faith determined that the matters relating to such notice do not constitute material, nonpublic information relating to the
Company or its subsidiaries, the Company shall contemporaneously with any such receipt or delivery publicly disclose such material,
nonpublic information on a Current Report on Form 8-K or otherwise. In the event that the Company believes that a notice contains
material, nonpublic information relating to the Company or its subsidiaries, the Company so shall indicate to such Holder contemporaneously
with delivery of such notice, and in the absence of any such indication, the Holder shall be allowed to presume that all matters
relating to such notice do not constitute material, nonpublic information relating to the Company or its subsidiaries.

  

16.
[RESERVED].

 

17. CERTAIN
DEFINITIONS. For purposes of this Warrant, the following terms shall have the following meanings:

 

(a)
“Affiliate” means, with respect to any Person, any other Person that directly or indirectly controls, is controlled
by, or is under common control with, such Person, it being understood for purposes of this definition that “control”
of a Person means the power directly or indirectly either to vote 10% or more of the stock having ordinary voting power for the
election of directors of such Person or direct or cause the direction of the management and policies of such Person whether by
contract or otherwise.

 

(b)
“Attribution Parties” means, collectively, the following Persons and entities: (i) any investment vehicle,
including, any funds, feeder funds or managed accounts, currently, or from time to time after the Subscription Date, directly
or indirectly managed or advised by the Holder’s investment manager or any of its Affiliates or principals, (ii) any direct
or indirect Affiliates of the Holder or any of the foregoing, (iii) any Person acting or who could be deemed to be acting as a
Group together with the Holder or any of the foregoing and (iv) any other Persons whose beneficial ownership of the Company’s
Common Stock would or could be aggregated with the Holder’s and the other Attribution Parties for purposes of Section 13(d)
of the 1934 Act. For clarity, the purpose of the foregoing is to subject collectively the Holder and all other Attribution Parties
to the Maximum Percentage.

 

    12

     

    

 

(c)
“Bid Price” means, for any security as of the particular time of determination, the bid price for such security
on the Principal Market as reported by Bloomberg as of such time of determination, or, if the Principal Market is not the principal
securities exchange or trading market for such security, the bid price of such security on the principal securities exchange or
trading market where such security is listed or traded as reported by Bloomberg as of such time of determination, or if the foregoing
does not apply, the bid price of such security in the over-the-counter market on the electronic bulletin board for such security
as reported by Bloomberg as of such time of determination, or, if no bid price is reported for such security by Bloomberg as of
such time of determination, the average of the bid prices of any market makers for such security as reported in the “pink
sheets” by OTC Markets Group Inc. (formerly Pink Sheets LLC) as of such time of determination. If the Bid Price cannot be
calculated for a security as of the particular time of determination on any of the foregoing bases, the Bid Price of such security
as of such time of determination shall be the fair market value as mutually determined by the Company and the Holder. If the Company
and the Holder are unable to agree upon the fair market value of such security, then such dispute shall be resolved in accordance
with the procedures in Section 11. All such determinations shall be appropriately adjusted for any stock dividend, stock split,
stock combination or other similar transaction during such period.

 

(d)
“Bloomberg” means Bloomberg Financial Markets.

 

(e)
“Business Day” means any day other than Saturday, Sunday or other day on which commercial banks in The City
of New York are authorized or required by law to remain closed.

 

(f)
“Closing Bid Price” and “Closing Sale Price” means, for any security as of any date, the
last closing bid price and last closing trade price, respectively, for such security on the Principal Market, as reported by Bloomberg,
or, if the Principal Market begins to operate on an extended hours basis and does not designate the closing bid price or the closing
trade price, as the case may be, then the last bid price or the last trade price, respectively, of such security prior to 4:00:00
p.m., New York time, as reported by Bloomberg, or, if the Principal Market is not the principal securities exchange or trading
market for such security, the last closing bid price or last trade price, respectively, of such security on the principal securities
exchange or trading market where such security is listed or traded as reported by Bloomberg, or if the foregoing do not apply,
the last closing bid price or last trade price, respectively, of such security in the over-the-counter market on the electronic
bulletin board for such security as reported by Bloomberg, or, if no closing bid price or last trade price, respectively, is reported
for such security by Bloomberg, the average of the bid prices, or the ask prices, respectively, of any market makers for such
security as reported in the OTC Link or “pink sheets” by OTC Markets Group Inc. (formerly Pink OTC Markets Inc.).
If the Closing Bid Price or the Closing Sale Price cannot be calculated for a security on a particular date on any of the foregoing
bases, the Closing Bid Price or the Closing Sale Price, as the case may be, of such security on such date shall be the fair market
value as mutually determined by the Company and the Holder. If the Company and the Holder are unable to agree upon the fair market
value of such security, then such dispute shall be resolved pursuant to Section 11. All such determinations to be appropriately
adjusted for any stock dividend, stock split, stock combination, reclassification or other similar transaction during the applicable
calculation period.

  

(g)
“Common Stock” means (i) the Company’s Common Stock, par value $0.0001 per share, and (ii) any capital
stock into which such Common Stock shall have been changed or any capital stock resulting from a reclassification of such Common
Stock.

 

(h)
“Convertible Securities” means any stock or securities (other than Options) directly or indirectly convertible
into or exercisable or exchangeable for shares of Common Stock.

 

(i)
“Eligible Market” means The Nasdaq Capital Market, the NYSE American LLC, The Nasdaq Global Select Market,
The Nasdaq Global Market or The New York Stock Exchange, Inc.

 

(j)
“Expiration Date” means the date sixty (60) months after the Initial Exercisability Date or, if such date falls
on a day other than a Business Day or on which trading does not take place on the Principal Market (a “Holiday”),
the next day that is not a Holiday.

 

    13

     

    

 

(k)
“Fundamental Transaction” means (A) that the Company shall, directly or indirectly, including through subsidiaries,
Affiliates or otherwise, in one or more related transactions, (i) consolidate or merge with or into (whether or not the Company
is the surviving corporation) another Subject Entity, or (ii) sell, assign, transfer, convey or otherwise dispose of all or substantially
all of the properties or assets of the Company or any of its “significant subsidiaries” (as defined in Rule 1-02 of
Regulation S-X) to one or more Subject Entities, or (iii) make, or allow one or more Subject Entities to make, or allow the Company
to be subject to or have its shares of Common Stock be subject to or party to one or more Subject Entities making, a purchase,
tender or exchange offer that is accepted by the holders of at least either (x) 50% of the outstanding shares of Common Stock,
(y) 50% of the outstanding shares of Common Stock calculated as if any shares of Common Stock held by all Subject Entities making
or party to, or Affiliated with any Subject Entities making or party to, such purchase, tender or exchange offer were not outstanding;
or (z) such number of shares of Common Stock such that all Subject Entities making or party to, or Affiliated with any Subject
Entity making or party to, such purchase, tender or exchange offer, become collectively the beneficial owners (as defined in Rule
13d-3 under the 1934 Act) of at least 50% of the outstanding shares of Common Stock, or (iv) consummate a stock purchase agreement
or other business combination (including, without limitation, a reorganization, recapitalization, spin-off or scheme of arrangement)
with one or more Subject Entities whereby all such Subject Entities, individually or in the aggregate, acquire, either (x) at
least 50% of the outstanding shares of Common Stock, (y) at least 50% of the outstanding shares of Common Stock calculated as
if any shares of Common Stock held by all the Subject Entities making or party to, or Affiliated with any Subject Entity making
or party to, such stock purchase agreement or other business combination were not outstanding; or (z) such number of shares of
Common Stock such that the Subject Entities become collectively the beneficial owners (as defined in Rule 13d-3 under the 1934
Act) of at least 50% of the outstanding shares of Common Stock, or (v) reorganize, recapitalize or reclassify its shares of Common
Stock, (B) that the Company shall, directly or indirectly, including through subsidiaries, Affiliates or otherwise, in one or
more related transactions, allow any Subject Entity individually or the Subject Entities in the aggregate to be or become the
“beneficial owner” (as defined in Rule 13d-3 under the 1934 Act), directly or indirectly, whether through acquisition,
purchase, assignment, conveyance, tender, tender offer, exchange, reduction in outstanding shares of Common Stock, merger, consolidation,
business combination, reorganization, recapitalization, spin-off, scheme of arrangement, reorganization, recapitalization or reclassification
or otherwise in any manner whatsoever, of either (x) at least 50% of the aggregate ordinary voting power represented by issued
and outstanding shares of Common Stock, (y) at least 50% of the aggregate ordinary voting power represented by issued and outstanding
shares of Common Stock not held by all such Subject Entities as of the Subscription Date calculated as if any shares of Common
Stock held by all such Subject Entities were not outstanding, or (z) a percentage of the aggregate ordinary voting power represented
by issued and outstanding shares of Common Stock or other equity securities of the Company sufficient to allow such Subject Entities
to effect a statutory short form merger or other transaction requiring other stockholders of the Company to surrender their Common
Stock without approval of the stockholders of the Company or (C) directly or indirectly, including through subsidiaries, Affiliates
or otherwise, in one or more related transactions, the issuance of or the entering into any other instrument or transaction structured
in a manner to circumvent, or that circumvents, the intent of this definition in which case this definition shall be construed
and implemented in a manner otherwise than in strict conformity with the terms of this definition to the extent necessary to correct
this definition or any portion of this definition which may be defective or inconsistent with the intended treatment of such instrument
or transaction.

 

(l)
“Group” means a “group” as that term is used in Section 13(d) of the 1934 Act and as defined in
Rule 13d-5 thereunder.

 

(m)
“Options” means any rights, warrants or options to subscribe for or purchase shares of Common Stock or Convertible
Securities.

 

(n)
“Parent Entity” of a Person means an entity that, directly or indirectly, controls the applicable Person, including
such entity whose common stock or equivalent equity security is quoted or listed on an Eligible Market (or, if so elected by the
Holder, any other market, exchange or quotation system), or, if there is more than one such Person or such entity, the Person
or such entity designated by the Holder or in the absence of such designation, such Person or entity with the largest public market
capitalization as of the date of consummation of the Fundamental Transaction.

 

    14

     

    

 

(o)
“Person” means an individual, a limited liability company, a partnership, a joint venture, a corporation, a
trust, an unincorporated organization, any other entity and a government or any department or agency thereof.

 

(p)
“Principal Market” means the principal securities exchange or securities market on which the Common Shares
are then traded.

 

(q)
“Required Holders” means, as of any date, the holders of at least a majority of the Warrant Shares underlying
the Warrants outstanding as of such date.

 

(r) “Standard
Settlement Period” means the standard settlement period, expressed in a number of Trading Days, for the Company’s
primary trading market or quotation system with respect to the Common Stock that is in effect on the date of receipt of an applicable
Exercise Notice.

 

(s)
“Subject Entity” means any Person, Persons or Group or any Affiliate or associate of any such Person, Persons
or Group.

 

(t)
“Successor Entity” means one or more Person or Persons (or, if so elected by the Holder, the Company or Parent
Entity) formed by, resulting from or surviving any Fundamental Transaction or one or more Person or Persons (or, if so elected
by the Holder, the Company or the Parent Entity) with which such Fundamental Transaction shall have been entered into.

 

(u)
“Trading Day” means any day on which the Common Stock is traded on the Principal Market, or, if the Principal
Market is not the principal trading market for the Common Stock, then on the principal securities exchange or securities market
on which the Common Stock is then traded.

 

(v)
“Transaction Documents” means any agreement entered into by and between the Company and the Holder, as applicable.

 

(w)
“Weighted Average Price” means, for any security as of any date, the dollar volume-weighted average price for
such security on the Principal Market during the period beginning at 9:30:01 a.m., New York time (or such other time as the Principal
Market publicly announces is the official open of trading), and ending at 4:00:00 p.m., New York time (or such other time as the
Principal Market publicly announces is the official close of trading), as reported by Bloomberg through its “Volume at Price”
function or, if the foregoing does not apply, the dollar volume-weighted average price of such security in the over-the-counter
market on the electronic bulletin board for such security during the period beginning at 9:30:01 a.m., New York time (or such
other time as such market publicly announces is the official open of trading), and ending at 4:00:00 p.m., New York time (or such
other time as such market publicly announces is the official close of trading), as reported by Bloomberg, or, if no dollar volume-weighted
average price is reported for such security by Bloomberg for such hours, the average of the highest Closing Bid Price and the
lowest closing ask price of any of the market makers for such security as reported in the OTC Link or “pink sheets”
by OTC Markets Group Inc. (formerly Pink OTC Markets Inc.). If the Weighted Average Price cannot be calculated for a security
on a particular date on any of the foregoing bases, the Weighted Average Price of such security on such date shall be the fair
market value as mutually determined by the Company and the Holder. If the Company and the Holder are unable to agree upon the
fair market value of such security, then such dispute shall be resolved pursuant to Section 11 with the term “Weighted Average
Price” being substituted for the term “Exercise Price.” All such determinations shall be appropriately adjusted
for any stock dividend, stock split, stock combination, reclassification or other similar transaction during the applicable calculation
period.

 

 

[Signature
Page Follows]

 

    15

     

    

 

IN
WITNESS WHEREOF, the Company has caused this Warrant to Purchase Common Stock to be duly executed as of the Issuance
Date set out above.

 

	 	NXT-ID, INC.
	 	 
	 	By:	 
	 	Name:	Vincent S. Miceli
	 	Title:	Chief Executive Officer

 

    16

     

    

 

EXHIBIT
A

 

EXERCISE
NOTICE

 

TO
BE EXECUTED BY THE REGISTERED HOLDER TO EXERCISE THIS

WARRANT
TO PURCHASE COMMON STOCK

 

NXT-ID,
INC.

 

The
undersigned holder hereby exercises the right to purchase _________________ shares of Common Stock (“Warrant Shares”)
of Nxt-ID, Inc., a company organized under the laws of Delaware (the “Company”), evidenced by the attached
Warrant to Purchase Common Stock (the “Warrant”). Capitalized terms used herein and not otherwise defined shall
have the respective meanings set forth in the Warrant.

 

1.
Form of Exercise Price. The Holder intends that payment of the Exercise Price shall be made as:

 

____________
a “Cash Exercise” with respect to _________________ Warrant Shares; and/or

 

____________
a “Cashless Exercise” with respect to _______________ Warrant Shares.

 

2.
Payment of Exercise Price. In the event that the holder has elected a Cash Exercise with respect to some or all of the Warrant
Shares to be issued pursuant hereto, the holder shall pay the Aggregate Exercise Price in the sum of $___________________ to the
Company in accordance with the terms of the Warrant.

 

3.
Delivery of Warrant Shares. The Company shall deliver to the holder __________ Warrant Shares in accordance with the terms of
the Warrant.

 

Date:
_______________ __, ______

 

	 	 
	Name of Registered Holder	 

 

	By:	 	 
	 	Name:	 
	 	Title:	 

 

 

ACKNOWLEDGMENT

 

The
Company hereby acknowledges this Exercise Notice and hereby directs VStock Transfer, LLC to issue the above indicated number of
shares of Common Stock on or prior to the applicable Share Delivery Date.

 

	 	NXT-ID, INC.
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

    A-1

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