Document:

Exhibit 10.3

 

DEBT
CONVERSION AGREEMENT

 

This
Debt Conversion Agreement (the “Agreement”) is entered into effective as of September 8, 2022 by and between China
Cultural Finance Holdings Company Limited, a British Virgin Islands corporation, and its subsidiaries or related parties (the “Creditor”),
and American Education Center, Inc., a Nevada corporation (the “Corporation”), with reference to the following facts:

 

WHEREAS,
the Creditor has lent certain funds with interests, totaling Renminbi (“RMB”) ¥6,657,616.67 (approximately United
States Dollar $986,313.58), to the Corporation, as described in certain loan agreements (the “Loan Agreements”). The
Corporation and the Creditor desire to convert the entire outstanding amount RMB ¥6,657,616.67 (the “Debt”)
into shares of the Corporation’s common stock, par value $0.001 (the “Common Stock”), at a conversion price
of $0.0075 per share, to fully satisfy the Corporation’s obligations under the Loan Agreements; and

 

NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Creditor and the Corporation
agree as follows:

 

1.
Conversion to Common Stock. Effective as of September 8, 2022, the Creditor shall convert the Debt into shares of the Corporation’s
Common Stock at a conversion price of $0.0075 per share for a total of 131,508,477 shares (the “Conversion Shares”).
Upon execution of this Agreement, the Corporation shall instruct its transfer agent to issue the Conversion Shares to the Creditor. The
Creditor hereby acknowledges that the issuance of the Conversion Shares is in full conversion of the Debt and, as a result, the Corporation
will have fully and completely satisfied all of its obligations with respect to the Debt and the Loan Agreements. 

 

2.
Representations and Warranties of the Corporation. The Corporation represents and warrants to Creditor as follows:

 

(a)
The Corporation is duly incorporated, validly existing and in good standing in the State of Nevada.

 

(b)
The Conversion Shares have been duly authorized for issuance by the Corporation’s board of directors and no approval by the Corporation’s
stockholders or any third party, including any government agency, is required for the issuance of the Conversion Shares pursuant to this
Agreement. The Conversion Shares, when issued pursuant to this Agreement, will be duly and validly authorized and issued, fully paid
and non-assessable.

 

3.
Creditor Representations. The Corporation is issuing the Conversion Shares to the Creditor in reliance upon the following representations
made by the Creditor:

 

(a)
The Creditor acknowledges and agrees that the Conversion Shares are characterized as “restricted securities” under the Securities
Act of 1933 (as amended and together with the rules and regulations promulgated thereunder, the “Securities Act”)
and that, under the Securities Act and applicable regulations thereunder, such securities may not be resold, pledged or otherwise transferred
without registration under the Securities Act or an exemption therefrom. The Creditor acknowledges and agrees that (i) the Conversion
Shares are being offered in a transaction not involving any public offering in the United States within the meaning of the Securities
Act, and the Conversion Shares have not yet been registered under the Securities Act, and (ii) such Conversion Shares may be offered,
resold, pledged or otherwise transferred only in a transaction registered under the Securities Act, or meeting the requirements of Rule
144, or in accordance with another exemption from the registration requirements of the Securities Act (and based upon an opinion of counsel
if the Corporation so requests) and in accordance with any applicable securities laws of any State of the United States or any other
applicable jurisdiction.

 

(b)
The Creditor acknowledges and agrees that (i) the registrar or transfer agent for the Conversion Shares will not be required to accept
for registration of transfer any shares except upon presentation of evidence satisfactory to the Corporation that the restrictions on
transfer under the Securities Act have been complied with and (ii) any Conversion Shares in the form of definitive physical certificates
will bear a restrictive legend.

 

    	 	1	 

     

    

 

(c)
The Creditor acknowledges and agrees that: (a) the Conversion Shares have not been registered under the Securities Act, or under any
state securities laws, and are being offered and sold in reliance upon federal and state exemptions for transactions not involving any
public offering; (b) the Creditor is acquiring the Conversion Shares solely for its own account for investment purposes, and not with
a view to the distribution thereof in a transaction that would violate the Securities Act or the securities laws of any State of the
United States or any other applicable jurisdiction; (c) The Creditor is a sophisticated purchaser with such knowledge and experience
in business and financial matters that it is capable of evaluating the merits and risks of converting the Debt to Conversion Shares ;
(d) The Creditor has had the opportunity to obtain from the Corporation such information as desired in order to evaluate the merits and
the risks inherent in holding the Conversion Shares; (e) The Creditor is able to bear the economic risk and lack of liquidity inherent
in holding the Conversion Shares; (f) the Creditor is an “accredited investor” within the meaning of Rule 501(a) under the
Securities Act; and (g) the Creditor either has a pre-existing personal or business relationship with the Corporation or its officers,
directors or controlling persons, or by reason of the Creditor’s business or financial experience, or the business or financial
experience of their professional advisors who are unaffiliated with and who are not compensated by the Corporation, directly or indirectly,
have the capacity to protect their own interests when obtaining the Conversion Shares.

 

(d)
The Creditor’s investment in the Corporation pursuant to this Agreement is consistent, in both nature and amount, with the Creditor’s
overall investment plan and financial condition.

 

(e)
The Creditor’s principal executive office is in Hong Kong.

 

(f)
The Creditor represents and warrants that no broker or finder was involved directly or indirectly for the transaction contemplated in
this Agreement. The Creditor shall indemnify the Corporation and hold it harmless from and against any manner of loss, liability, damage
or expense, including fees and expenses of counsel, resulting from a breach of the Creditor’s warranty contained in this Section
3(g).

 

(g)
No person has made to the Creditor any written or oral representations:

 

(i)
that any person will resell or repurchase any of the Conversion Shares;

 

(ii)
as to the future price or value of any of the Conversion Shares.

 

(h)
The funds used to make the loans pursuant to the Loan Agreements were not and are not directly or indirectly derived from activities
that contravene (i) United States federal, state, or international laws and regulations, including anti-money laundering laws and regulations,
(ii) the laws of the Peoples’ Republic of China relating to money laundering, and (iii) if the Creditor is a citizen or resident
of a country other than the United States or the Peoples’ Republic of China, the anti-money laundering and similar laws of such
country. United States federal regulations and Executive Orders administered by Office of Foreign Assets Control (“OFAC”)
prohibit, among other things, the engagement in transactions with, and the provision of services to, certain foreign countries, territories,
entities and individuals. The lists of OFAC prohibited countries, territories, persons and entities can be found on the OFAC website
at http://www.treas.gov/ofac. In addition, the programs administered by OFAC (the “OFAC Programs”) prohibit dealing with
individuals or entities in certain countries regardless of whether such individuals or entities appear on the OFAC lists.

 

(i)
To the best of the Creditor’s knowledge, none of: (i) the Creditor; (ii) any person controlling or controlled by the Creditor;
(iii) any person having a beneficial interest in the Creditor; or (iv) any person for whom the Creditor is acting as agent or nominee
in connection with the transaction contemplated in this Agreement:

 

(i)
is a country, territory, individual or entity named on an OFAC list, or a person or entity prohibited under the OFAC Programs. The Creditor
agrees to promptly notify the Corporation should the Creditor become aware of any change in the information set forth in these representations;
or

 

    	 	2	 

     

    

 

(ii)
is a senior foreign political figure1, or any immediate family member2 or close associate3 of
a senior foreign political figure, as such terms are defined in the footnotes below.

 

(j)
the Creditor is not affiliated with a non-U.S. banking corporation.

 

(k)
the Creditor’s address set forth on the signature page is the Creditor’s true and correct address.

 

(l)
the Creditor is a citizen and resident of the country set forth on the signature page of this Agreement and is not a U.S. Person, as
defined in Rule 902(k) of the SEC pursuant to the Securities Act. The Creditor understands that the Corporation will rely on this representation
in its filings under federal securities laws. The definition of a U.S. Person is set forth on Exhibit A to this Agreement.

 

(m)
The Creditor is not acquiring the Conversion Shares as a result of, and will not himself engage in, any “directed selling efforts”
(as defined in Rule 902(c) of the SEC under the Securities Act) in the United States in respect of the Conversion Shares which would
include any activities undertaken for the purpose of, or that could reasonably be expected to have the effect of, conditioning the market
in the United States for the resale of the Conversion Shares; provided, however, that the Creditor may sell or otherwise dispose of the
Conversion Shares under an exemption from the registration requirements of the Securities Act. The definition of directed selling efforts
is set forth on Exhibit A to this Agreement.

 

(n)
The Creditor acknowledges and agrees that none of the Conversion Shares may be offered or sold in the United States or, directly or indirectly,
to U.S. Persons, except in accordance with the provisions of Regulation S of the SEC under the Securities Act, pursuant to an effective
registration statement under the Securities Act, or pursuant to an exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act and in each case in accordance with applicable state securities laws.

 

(o)
Neither the Creditor nor any its affiliate is a “bad actor” as defined in Section 506(d) of the SEC pursuant to the Securities
Act or is subject to the disclosure requirements of Rule 506(e).

 

(p)
The information set forth on the Creditor’s accredited investor questionnaire, which is attached as Exhibit B to this Agreement,
is true and correct.

 

(q)
The Creditor understands that the Corporation is relying upon the truth and accuracy of, and the Creditor’s compliance with, the
representations, warranties and agreements of the Creditor set forth herein, and the Creditor acknowledges that it is not relying on
any representation or warranty by the Corporation except as expressly set forth in this Agreement.

 

4.
Miscellaneous.

 

(a)
This Agreement shall be construed and enforced in accordance with the laws of the State of Nevada.

 

(b)
This Agreement constitutes the entire agreement between the parties and supersedes all prior oral or written negotiations and agreements
between the parties with respect to the subject matter hereof. No modification, variation or amendment of this Agreement (including any
exhibit hereto) shall be effective unless made in writing and signed by both parties.

 

 

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

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

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

 

    	 	3	 

     

    

 

(c)
Each party to this Agreement hereby represents and warrants to the other party that it has had an opportunity to seek the advice of its
own independent legal counsel with respect to the provisions of this Agreement and that its decision to execute this Agreement is not
based on any reliance upon the advice of any other party or its legal counsel. Each party represents and warrants to the other party
that in executing this Agreement such party has completely read this Agreement and that such party understands the terms of this Agreement
and its significance. This Agreement shall be construed neutrally, without regard to the party responsible for its preparation.

 

(d)
Each party shall hold the other party harmless for any commission and/or fees agreed to be paid by the other party to any broker, finder
or other person or entity acting or purporting to act in a similar capacity engaged by such party.

 

(e)
Each party to this Agreement hereby represents and warrants to the other party that (i) the execution, performance and delivery of this
Agreement has been authorized by all necessary action by such party; (ii) the representative executing this Agreement on behalf of such
party has been granted all necessary power and authority to act on behalf of such party with respect to the execution, performance and
delivery of this Agreement; and (iii) the representative executing this Agreement on behalf of such party is of legal age and capacity
to enter into agreements which are fully binding and enforceable against such party.

 

(f)
This Agreement may be executed in any number of counterparts and may be delivered by facsimile transmission, all of which taken together
shall constitute a single instrument.

 

[Signatures
on following page]

 

    	 	4	 

     

    

 

IN
WITNESS WHEREOF, the parties have executed this Agreement on the date first aforesaid.

 

	Address,
    Email and Telephone No.	 	Signature
	 	 	 
	Address:
    630 FIFTH AVE, STE 2338, NEW YORK NY 10111	 	AMERICAN
    EDUCATION CENTER, INC.
	 	 	 
	Email:
    	 	By:	/s/
    Christian Rockefeller
	Telephone:
    	 	Christian
    Rockefeller, CEO
	 	 	 
	Address:
    Unit 2508 - 09, 25/F, Shun Tak Tower West Tower, 168 - 200 Connaught Road Central, Hong Kong	 	CHINA
    CULTURAL FINANCE HOLDINGS COMPANY LIMITED (Creditor)
	 	 	 
	Email:
    	 	By:	/s/
    Fong Kai Shing,
	Telephone:	 	Fong
    Kai Shing, CEO

 

    	 	5	 

     

    

 

Exhibit
A

 

Certain
Definitions

 

U.S.
Person

 

(1)
“U.S. person” means

 

(i)
Any natural person resident in the United States;

 

(ii)
Any partnership or corporation organized or incorporated under the laws of the United States;

 

(iii)
Any estate of which any executor or administrator is a U.S. person;

 

(iv)
Any trust of which any trustee is a U.S. person;

 

(v)
Any agency or branch of a foreign entity located in the United States;

 

(vi)
Any non-discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary for the benefit
or account of a U.S person;

 

(vii)
Any discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary organized, incorporated,
or (if an individual) resident in the United States; and

 

(viii)
Any partnership or corporation if:

 

(A)
Organized or incorporated under the laws of any foreign jurisdiction; and

 

(B)
Formed by a U.S. person principally for the purpose of investing in securities not registered under the Securities Act, unless it is
organized or incorporated, and owned, by accredited investors (as defined in Rule 501(a) of the SEC under the Securities Act) who are
not natural persons, estates or trusts.

 

Directed
Selling Efforts

 

(1)
“Directed selling efforts” means any activity undertaken for the purpose of, or that could reasonably be expected to have
the effect of, conditioning the market in the United States for any of the securities being offered in reliance on this Regulation S.
Such activity includes placing an advertisement in a publication “with a general circulation in the United States” that refers
to the offering of securities being made in reliance upon this Regulation S.

 

(2)
Publication “with a general circulation in the United States”:

 

(i)
Is defined as any publication that is printed primarily for distribution in the United States, or has had, during the preceding twelve
months, an average circulation in the United States of 15,000 or more copies per issue; and

 

(ii)
Will encompass only the U.S. edition of any publication printing a separate U.S. edition if the publication, without considering its
U.S. edition, would not constitute a publication with a general circulation in the United States.

 

(3)
The following are not “directed selling efforts”:

 

(i)
Placing an advertisement required to be published under U.S. or foreign law, or under rules or regulations of a

 

U.S.
or foreign regulatory or self-regulatory authority, provided the advertisement contains no more information than legally required and
includes a statement to the effect that the securities have not been registered under the Act and may not be offered or sold in the United
States (or to a U.S. person, if the advertisement relates to an offering under Category 2 or 3 (paragraph (b)(2) or (b)(3)) in §
230.903) absent registration or an applicable exemption from the registration requirements;

 

(ii)
Contact with persons excluded from the definition of “U.S. person” pursuant to paragraph (k)(2)(vi) of this section or persons
holding accounts excluded from the definition of “U.S. person” pursuant to paragraph (k)(2)(i) of this section, solely in
their capacities as holders of such accounts;

 

    	 	6	 

     

    

 

(iii)
A tombstone advertisement in any publication with a general circulation in the United States, provided:

 

(A)
The publication has less than 20% of its circulation, calculated by aggregating the circulation of its U.S. and comparable non-U.S. editions,
in the United States;

 

(B)
Such advertisement contains a legend to the effect that the securities have not been registered under the Act and may not be offered
or sold in the United States (or to a U.S. person, if the advertisement relates to an offering under Category 2 or 3 (paragraph (b)(2)
or (b)(3)) in Rule 903 absent registration or an applicable exemption from the registration requirements; and

 

(C)
Such advertisement contains no more information than the issuer’s name; the amount and title of the securities being sold; a brief
indication of the issuer’s general type of business; the price of the securities;

 

the
yield of the securities, if debt securities with a fixed (non-contingent) interest provision; the name and address of the person placing
the advertisement, and whether such person is participating in the distribution; the names of the managing underwriters; the dates, if
any, upon which the sales commenced and concluded; whether the securities are offered or were offered by rights issued to security holders
and, if so, the class of securities that are entitled or were entitled to subscribe, the subscription ratio, the record date, the dates
(if any) upon which the rights were issued and expired, and the subscription price; and any legend required by law or any foreign or
U.S. regulatory or self-regulatory authority.

 

(iv)
Bona fide visits to real estate, plants or other facilities located in the United States and tours thereof conducted for a prospective
investor by an issuer, a distributor, any of their respective affiliates or a person acting on behalf of any of the foregoing;

 

(v)
Distribution in the United States of a foreign broker-dealer’s quotations by a third-party system that distributes such quotations
primarily in foreign countries if securities transactions cannot be executed between foreign broker-dealers and persons in the United
States through the system; and the issuer, distributors, their respective affiliates, persons acting on behalf of any of the foregoing,
foreign broker-dealers and other participants in the system do not initiate contacts with U.S. persons or persons within the United States,
beyond those contacts exempted under Rule 15a-6 under the Securities Exchange Act of 1934;

 

(vi)
Publication by an issuer of a notice in accordance with Rule 135 or Rule 135c of the SEC pursuant to the Securities Act;

 

(vii)
Providing any journalist with access to press conferences held outside of the United States, to meetings with the issuer or selling security
holder representatives conducted outside the United States, or to written press-related materials released outside the United States,
at or in which a present or proposed offering of securities is discussed, if the requirements of § 230.135e are satisfied; and

 

(viii)
Publication or distribution of a research report by a broker or dealer in accordance with Rule 138(c) or Rule 139(b).

 

    	 	7	 

     

    

 

Exhibit
B

 

Accredited
Investor Questionnaire

 

The
following are tests for an accredited investor. Please initial which tests are applicable. Please initial all that apply.

 

______A
natural person whose individual net worth or joint net worth with Subscriber’s spouse, at the time of this purchase exceeds $1,000,000
(PLEASE NOTE: In calculating net worth, you include all of your assets (other than your primary residence), whether liquid or illiquid,
such as cash, stock, securities, personal property and real estate based on the fair market value of such property MINUS all debts and
liabilities (other than indebtedness secured by your primary residence, up to the estimated fair market value of the primary residence,
unless the borrowing occurs in the 60 days preceding the purchase of the Units and is not in connection with the acquisition of the primary
residence. In such cases, the debt secured by the primary residence must be treated as a liability in the net worth calculation.). In
the event any incremental mortgage or other indebtedness secured by your primary residence occurs in the 60 days preceding the date of
the purchase of the Units, the incremental borrowing must be treated as a liability and deducted from your net worth even though the
value of your primary residence will not be included as an asset. Further, the amount of any mortgage or other indebtedness secured by
your primary residence that exceeds the fair market value of the residence should also be deducted from your net worth);

 

______A
natural person who had an individual income in excess of $200,000 in each of the two most recent years or joint income with Subscriber’s
spouse in excess of $300,000 in each of those years and has a reasonable expectation of reaching the same income level in the current
year;

 

______A
director or executive officer or manager of the Corporation.

 

______Any
bank as defined in section 3(a)(2) of the Securities Act or any savings and loan association or other institution as defined in section
3(a)(5)(A) of the Securities Act whether acting in its individual or fiduciary capacity.

 

______Any
broker or dealer registered pursuant to section 15 of the Securities Exchange Act of 1934.

 

______Insurance
company as defined in section 2(13) of the Securities Act.

 

______Investment
company registered under the Investment Corporation Act of 1940 or a business development company as defined in section 2(a)(48) of that
Act.

 

______Small
Business Investment Corporation licensed by the U.S. Small Business Administration under section 301(c) or (d) of the Small Business
Investment Act of 1958.

 

______Employee
benefit plan within the meaning of Title I of the Employee Retirement Income Security Act of 1974, if the investment decision is made
by a plan fiduciary, as defined in section 3(21) of such Act, which is either a bank, savings and loan association, insurance company,
or registered investment adviser, or if the employee benefit plan has total assets in excess of $5,000,000 or, if a self-directed plan,
with investment decisions made solely by persons that are accredited investors.

 

______Any
private business development company as defined in section 202(a)(22) of the Investment Advisers Act of 1940.

 

______Any
organization described in Section 501(c)(3) of the Internal Revenue Code, corporation, Massachusetts or similar business trust, or partnership,
not formed for the specific purpose of acquiring the securities offered, with total assets in excess of $5,000,000.

 

______Any
trust, with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the securities offered, whose purchase
is directed by a sophisticated person as described in Rule 506(b)(2)(ii) of the Commission under the Securities Act.

 

______Any
entity in which all of the equity owners are accredited investors (i.e., all of the equity owners meet one of the tests for an accredited
investor*). [Note: If the Creditor’s status as an accredited investor is based on this provision, a separate accredited investor
questionnaire should be completed for each equity owner of Investor.]

 

______Any
Individual Retirement Account (IRA) for the benefit of an accredited investor*.

 

 

*
The tests for an accredited investor who is an individual are the first three tests on this Exhibit B.

 

    	 	8Exhibit
10.1

 

COMMON
STOCK PURCHASE AGREEMENT

 

This
Common Stock Purchase Agreement is entered into effective as September 7, 2022 (this “Agreement”), by and between
TRxADE HEALTH Inc., Inc., a Delaware corporation (the “Company”), and White Lion Capital LLC, a Nevada limited liability
company (the “Investor”).

 

WHEREAS,
the parties desire that, upon the terms and subject to the conditions contained herein, the Investor shall purchase, from time to time,
as provided herein, and the Company shall issue and sell up to Ten Million Dollars ($10,000,000) of the Company’s Common Stock
(as defined below).

 

NOW,
THEREFORE, the parties hereto agree as follows:

 

ARTICLE
I 

CERTAIN DEFINITIONS

 

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

 

“Adjusted
Purchase Notice Share Amount” shall equal the product of (a) the total applicable number of Purchase Notice Shares in such
applicable Purchase Notice and (b) the quotient obtained by dividing (i) the number of hours commencing at the start of the Valuation
Period and ending at the time of the trade at or below the Threshold Price (rounded up to the next whole hour, subject to a maximum of
32 hours) by (ii) 32. For example, if the Common Stock trades below the Threshold Price on the second day of the Valuation Period at
1:01 p.m. New York time, the number of hours used in the Adjusted Purchase Notice Share Amount calculation shall be 11 hours. The issuance
of any and all Purchase Notice Shares in excess of the Adjusted Purchase Notice Share Amount shall be void ab initio.

 

		Adjusted
    Purchase Notice Share
    Amount = a ×	i	 
	 	32	 

 

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

 

“Average
Daily Trading Volume” shall mean the median daily trading volume of the Company’s Common Stock over the most recent five
(5) Business Days immediately preceding the delivery of a Purchase Notice (Exhibit A).

 

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

 

“Base
Registration Statement” shall have the meaning specified in Section 4.15.

 

    	 

     

    

 

“Beneficial
Ownership Limitation” shall have the meaning specified in Section 7.2(g).

 

“Bloomberg”
means Bloomberg, L.P.

 

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

 

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

 

“Clearing
Costs” shall mean $1,000 to cover the Investor’s broker and Transfer Agent costs with respect to each deposit of Purchase
Notice Shares.

 

“Closing”
shall mean the closing of a purchase and sale of shares of Common Stock pursuant to Section 2.1.

 

“Closing
Date” shall have the meaning specified in Section 2.2(b).

 

“Commitment
Amount” shall mean Ten Million Dollars ($10,000,000).

 

“Commitment
Period” shall mean the period commencing on the Execution Date and ending on the earlier of (i) the date on which the Investor
shall have purchased a number of Purchase Notice Shares pursuant to this Agreement equal to the Commitment Amount or (ii) December 31,
2023.

 

“Commitment
Shares” means 1% of the Commitment Amount issued by the Company to the Investor pursuant to Section 6.4.

 

“Common
Stock” shall mean the Company’s common stock, $0.00001 par value per share, and any shares of any other class of common
stock whether now or hereafter authorized, having the right to participate in the distribution of dividends (as and when declared) and
assets (upon liquidation of the Company).

 

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

 

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

 

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

 

“Current
Report” has the meaning set forth in Section 6.2.

 

    	 

     

    

 

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

 

“Designated
Brokerage Account” shall mean the brokerage account provided by the Investor for the delivery of the applicable Purchase Notice
Shares following receipt of a Purchase Notice.

 

“Disclosure
Schedules” means the Disclosure Schedules of the Company delivered concurrently herewith.

 

“Discount
Percentage” shall be 90%.

 

“Document
Preparation Fee” shall be $7,500 payable by the Company to the Investor deducted from the first Closing.

 

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

 

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

 

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

 

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

 

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

 

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

 

“Execution
Date” shall mean the date of this Agreement.

 

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

 

    	 

     

    

 

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

 

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

 

“Investment
Amount” shall mean the Purchase Notice Amount less Clearing Costs.

 

“Investment
Limit” shall mean $750,000, subject to increase at the sole discretion of the Investor.

 

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

 

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

 

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

 

“Opening
Sale Price” means, for the Common Stock as of any date, the first opening trade price for the Common Stock on the Trading Market,
as reported by Bloomberg.

 

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

 

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

 

“Purchase
Notice” shall mean a written notice from Company, substantially in the form of Exhibit A hereto, to the Investor setting
forth the Purchase Notice Shares which the Company requires the Investor to purchase pursuant to the terms of this Agreement.

 

“Purchase
Notice Amount” shall mean the Purchase Notice Shares referenced in the Purchase Notice multiplied by the Purchase Price; provided,
however, in the event that the price of the Common Stock during the Valuation Period trades at or below the Threshold Price, the
Purchase Notice Amount shall mean the Adjusted Purchase Notice Share Amount multiplied by the Threshold Purchase Price.

 

“Purchase
Notice Date” shall have the meaning specified in Section 2.2(a).

 

    	 

     

    

 

“Purchase
Notice Limit” shall mean for any Purchase Notice the Investor’s committed obligation under each Purchase Notice shall
not exceed the Investment Limit; the maximum amount of Purchase Notice Shares the Company may require the Investor to purchase per each
Purchase Notice shall be the lesser of: (i) 250% of the Average Daily Trading Volume or (ii) the Investment Limit divided by the highest
closing price of the Common Stock over the most recent five (5) Business Days immediately preceding receipt of a Purchase Notice. Notwithstanding
the forgoing, the Investor may waive the Purchase Notice Limit at any time to allow the Investor to purchase additional shares under
a Purchase Notice.

 

“Purchase
Notice Shares” shall mean all shares of Common Stock that the Company shall be entitled to issue as set forth in all Purchase
Notices in accordance with the terms and conditions of this Agreement.

 

“Purchase
Price” shall be the product of i) the lowest daily VWAP of the Common Stock during the Valuation Period and ii) the Discount
Percentage.

 

“Registration
Statement” shall have the meaning specified in Section 4.15.

 

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

 

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

 

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

 

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

 

“Securities”
mean the Purchase Notice Shares and all Commitment Shares issued to the Investor by the Company pursuant to this Agreement.

 

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

 

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

 

“Termination”
shall mean any termination outlined in Section 10.5.

 

“Threshold
Price” shall be 90% of the Opening Sale Price on the Purchase Notice Date.

 

“Threshold
Purchase Price” means the product of i) the Threshold Price and ii) the Discount Percentage.

 

    	 

     

    

 

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

 

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

 

“Valuation
Period” shall mean the five (5) consecutive Business Days commencing on and including the Purchase Notice Date. For avoidance
of doubt, the Purchase Notice Date shall be the first Business Day in the Valuation Period.

 

“VWAP”
means, for any security as of any date, the dollar volume-weighted average price for such security on the Principal Market (or, if the
Principal Market is not the principal trading market for such security, then on the principal securities exchange or securities market
on which such security is then traded), during the period beginning at 9:30 a.m., New York time, and ending at 4:00 p.m., New York time,
as reported by E*TRADE Securities LLC or Bloomberg through its “VAP” function (set to 09:30 start time and 16:00 end time)
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 a.m., New York time, and ending at 4:00 p.m., New York
time, 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 “pink sheets” by OTC Markets Group Inc. (formerly Pink Sheets LLC). If the VWAP cannot be calculated for such security
on such date on any of the foregoing bases, the VWAP of such security on such date shall be the fair market value as mutually determined
by the Company and the Investor. If the Company and the Investor 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 10.16. All such determinations shall be appropriately adjusted
for any share dividend, share split, share combination, recapitalization or other similar transaction during such period.

 

ARTICLE
II

PURCHASE
AND SALE OF COMMON STOCK

 

Section
2.1 PURCHASE NOTICES. Upon the terms and conditions set forth herein (including, without limitation, the provisions of Article
VII), the Company shall have the right, but not the obligation, to require the Investor, by its delivery to the Investor of a Purchase
Notice from time to time, to purchase Purchase Notice Shares provided that the amount of Purchase Notice Shares shall not exceed the
Purchase Notice Limit or the Beneficial Ownership Limitation set forth in Section 7.2(g), (each such purchase, a “Closing”).
The Company may not deliver a subsequent Purchase Notice until the Closing of an active Purchase Notice, except if waived by the Investor
in writing.

 

    	 

     

    

 

Section
2.2 MECHANICS.

 

(a)
PURCHASE NOTICE. At any time and from time to time during the Commitment Period, except as provided in this Agreement, the Company
may deliver a Purchase Notice to Investor, subject to satisfaction of the conditions set forth in Section 7 and otherwise provided herein.
The Company shall deliver the Purchase Notice Shares as DWAC Shares to the Designated Brokerage Account alongside the delivery of the
Purchase Notice. A Purchase Notice shall be deemed delivered on the Business Day (i) Exhibit A (Form of Purchase Notice) is received
by 9:30 a.m. New York time by email by the Investor and (ii) the DWAC of the applicable Purchase Notice Shares has been initiated and
completed as confirmed by the Investor’s Designated Brokerage Account (the “Purchase Notice Date”). If Exhibit
A is received after 9:30 a.m. then the next Business Day shall be the Purchase Notice Date, unless waived by Investor. Each party shall
use its best efforts to perform or fulfill all conditions and obligations to be performed or fulfilled by it under this Agreement so
that the transactions contemplated hereby shall be consummated as soon as practicable. Each party also agrees that it shall use its best
efforts to take, or cause to be taken, all actions and to do, or cause to be done, all things necessary, proper or advisable under applicable
laws and regulations to consummate and make effective Section 2.2(a) of this Agreement and the transactions contemplated herein.

 

(b)
CLOSING. The Closing of a Purchase Notice shall occur one (1) Business Day after the Valuation Period (the “Closing Date”);
whereby the Investor shall deliver to the Company, by 5:00 p.m. New York time on the Closing Date, the applicable Investment Amount by
wire transfer of immediately available funds to an account designated by the Company.

 

ARTICLE
III

REPRESENTATIONS
AND WARRANTIES OF INVESTOR

 

The
Investor represents and warrants to the Company that:

 

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

 

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

 

    	 

     

    

 

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

 

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

 

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

 

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

 

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

 

Section
3.8 DISCLOSURE; ACCESS TO INFORMATION. The Investor had an opportunity to review copies of the SEC Documents filed on behalf of
the Company and has had access to all publicly available information with respect to the Company.

 

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

 

    	 

     

    

 

ARTICLE
IV

REPRESENTATIONS
AND WARRANTIES OF THE COMPANY

 

Except
as set forth in the SEC Documents and the Disclosure Schedules, which Disclosure Schedules shall be deemed a part hereof and shall qualify
any representation or otherwise made herein to the extent of the disclosure contained in the corresponding section of the Disclosure
Schedules, the Company represents and warrants to the Investor, as of the date hereof, that:

 

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

 

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

 

Section
4.3 CAPITALIZATION. As of the date hereof, the authorized Common Stock of the Company consists of 100,000,000 shares of Common
Stock, of which approximately 8,181,041 shares of Common Stock are issued and outstanding as of the Execution Date. As of the date hereof,
the authorized Preferred Stock of the Company consists of 10,000,000 shares of Preferred Stock, of which no shares of Preferred Stock
are issued and outstanding as of the Execution Date. The Company has not issued any capital stock since its most recently filed quarterly
report on Form 10-Q under the Exchange Ac, other than pursuant to the exercise of employee stock options under the Company’s stock
option plans, the issuance of shares of Common Stock to employees pursuant to the Company’s employee stock purchase plans and pursuant
to the conversion and/or exercise of Common Stock Equivalents outstanding as of the date of the registration statement filed under the
Securities Act. No Person has any right of first refusal, preemptive right, right of participation, or any similar right to participate
in the transactions contemplated by the Transaction Documents. Except as set forth in the SEC Documents, there are no outstanding options,
warrants, scrip rights to subscribe to, calls or commitments of any character whatsoever relating to, or securities, rights or obligations
convertible into or exercisable or exchangeable for, or giving any Person any right to subscribe for or acquire any shares of Common
Stock, or contracts, commitments, understandings or arrangements by which the Company is or may become bound to issue additional shares
of Common Stock or Common Stock Equivalents. The issuance and sale of the Securities will not obligate the Company to issue shares of
Common Stock or other securities to any Person (other than the Investor) and will not result in a right of any holder of Company securities
to adjust the exercise, conversion, exchange or reset price under any of such securities. There are no stockholders agreements, voting
agreements or other similar agreements with respect to the Company’s capital stock to which the Company is a party or, to the knowledge
of the Company, between or among any of the Company’s stockholders.

 

    	 

     

    

 

Section
4.4 LISTING AND MAINTENANCE REQUIREMENTS. The Common Stock is not registered pursuant to Section 12(g) of the Exchange Act, but
the Company plans to register its Common Stock pursuant to Section 12(g) of the Exchange Act in the future. Except as disclosed in the
Current Report on Form 8-K filed on August 1, 2022, The Company has not, in the twelve (12) months preceding the date hereof, received
notice from the Principal Market on which the Common Stock is or has been listed or quoted to the effect that the Company is not in compliance
with the listing or maintenance requirements of such Principal Market.

 

Section
4.5 SEC DOCUMENTS; DISCLOSURE. The Company has filed all reports, schedules, forms, statements and other documents required to
be filed by the Company under the Securities Act and the Exchange Act, including pursuant to Section 13(a) thereof, for the one (1) year
preceding the date hereof (or such shorter period as the Company was required by law or regulation to file such material) (the foregoing
materials, including the exhibits thereto and documents incorporated by reference therein, being collectively referred to herein as the
“SEC Documents”) on a timely basis or has received a valid extension of such time of filing and has filed any such
SEC Documents prior to the expiration of any such extension. As of their respective dates, the SEC Documents complied in all material
respects with the requirements of the Securities Act and the Exchange Act, as applicable, and other federal laws, rules and regulations
applicable to such SEC Documents, and none of the SEC Documents when filed contained any untrue statement of a material fact or omitted
to state a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances
under which they were made, not misleading. The financial statements of the Company included in the SEC Documents comply as to form and
substance in all material respects with applicable accounting requirements and the published rules and regulations of the SEC or other
applicable rules and regulations with respect thereto. Such financial statements have been prepared in accordance with generally accepted
accounting principles applied on a consistent basis during the periods involved (except (a) as may be otherwise indicated in such financial
statements or the notes thereto or (b) in the case of unaudited interim statements, to the extent they may not include footnotes or may
be condensed or summary statements) and fairly present in all material respects the financial position of the Company as of the dates
thereof and the results of operations and cash flows for the periods then ended (subject, in the case of unaudited statements, to normal,
immaterial, year- end audit adjustments). Except with respect to the material terms and conditions of the transactions contemplated by
the Transaction Documents, the Company confirms that neither it nor any other Person acting on its behalf has provided the Investor or
its agents or counsel with any information that it believes constitutes or might constitute material, non-public information. The Company
understands and confirms that the Investor will rely on the foregoing representation in effecting transactions in securities of the Company.

 

    	 

     

    

 

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

 

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

 

    	 

     

    

 

Section
4.8 NO MATERIAL ADVERSE EFFECT. No event has occurred that would have a Material Adverse Effect on the Company that has not been
disclosed in SEC Documents.

 

Section
4.9 LITIGATION AND OTHER PROCEEDINGS. Except as disclosed in the SEC Documents and the Disclosure Schedule, there are no material
actions, suits, investigations, inquiries or similar proceedings (however any governmental agency may name them) pending or, to the knowledge
of the Company, threatened against or affecting the Company or its properties, nor has the Company received any written or oral notice
of any such action, suit, proceeding, inquiry or investigation, which would have a Material Adverse Effect. No judgment, order, writ,
injunction or decree or award has been issued by or, to the knowledge of the Company, requested of any court, arbitrator or governmental
agency which would have a Material Adverse Effect. There has not been, and to the knowledge of the Company, there is not pending or contemplated,
any investigation by the SEC involving the Company or any current or former director or officer of the Company.

 

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

 

Section
4.11 ACKNOWLEDGMENT REGARDING INVESTOR’S PURCHASE OF SECURITIES. The Company acknowledges and agrees that the Investor is
acting solely in the capacity of an arm’s length purchaser with respect to the Transaction Documents and the transactions contemplated
hereby and thereby and that the Investor is not (i) an officer or director of the Company, or (ii) an “affiliate” (as defined
in Rule 144) of the Company. The Company further acknowledges that the Investor is not acting as a financial advisor or fiduciary of
the Company (or in any similar capacity) with respect to the Transaction Documents and the transactions contemplated hereby and thereby,
and any advice given by the Investor or any of its representatives or agents in connection with the Transaction Documents and the transactions
contemplated hereby and thereby is merely incidental to the Investor’s purchase of the Shares. The Company further represents to
the Investor that the Company’s decision to enter into the Transaction Documents has been based solely on the independent evaluation
by the Company and its representatives.

 

Section
4.12 NO GENERAL SOLICITATION; PLACEMENT AGENT. Neither the Company, nor any Person acting on its behalf, has engaged in any form
of general solicitation or general advertising (within the meaning of Regulation D under the Securities act) in connection with the offer
or sale of the Securities.

 

    	 

     

    

 

Section
4.13 NO INTEGRATED OFFERING. None of the Company, its affiliates, and any Person acting on their behalf has, directly or indirectly,
made any offers or sales of any security or solicited any offers to buy any security, under circumstances that would cause this offering
of the Securities to be integrated with prior offerings for purposes of any applicable stockholder approval provisions, including, without
limitation, under the rules and regulations of any exchange or automated quotation system on which any of the securities of the Company
are listed or designated, but excluding stockholder consents required to authorize and issue the Securities or waive any anti-dilution
provisions in connection therewith.

 

Section
4.14 OTHER COVERED PERSONS. The Company is not aware of any Person (other than any Issuer Covered Person) that has been or will
be paid (directly or indirectly) remuneration for solicitation of the Investor in connection with the sale of any Regulation D Securities.

 

Section
4.15 REGISTRATION STATEMENT. The Company has prepared and filed a Registration Statement on Form S-3 with the SEC in accordance
with the provisions of the Securities Act, which was declared effective by order of the SEC on August 8, 2022 (File No. 333- 266432)
(the “Base Registration Statement”). The Registration Statement is effective under the Securities Act and the Company
has not received any written notice that the SEC has issued or intends to issue a stop order or other similar order with respect to the
Base Registration Statement or the prospectus or that the SEC otherwise has (i) suspended or withdrawn the effectiveness of the Base
Registration Statement or (ii) issued any order preventing or suspending the use of the prospectus or any prospectus supplement, in either
case, either temporarily or permanently or intends or has threatened in writing to do so. The “Plan of Distribution” section
of the prospectus permits the issuance of the Securities hereunder. The SEC has not notified the Company of any objection to the use
of the form of the Base Registration Statement pursuant to Rule 401(g)(1) of the Securities Act. The Company was at the time of the filing
of the Registration Statement eligible to use Form S-3. The Company is eligible to use Form S-3 under the Securities Act and it meets
the transaction requirements with respect to the aggregate market value of securities being sold pursuant to this offering and during
the twelve (12) months prior to this offering, as set forth in General Instruction I.B.6 of Form S-3. All corporate action required to
be taken for the authorization, issuance and sale of the Purchase Notice Shares has been duly and validly taken. The Purchase Notice
Shares conform in all material respects to all statements with respect thereto contained in the Base Registration Statement, the Prospectus
and the Prospectus Supplement.

 

    	 

     

    

 

ARTICLE
V 

COVENANTS OF INVESTOR

 

Section
5.1 SHORT SALES AND CONFIDENTIALITY. Neither the Investor, nor any affiliate of the Investor acting on its behalf or pursuant
to any understanding with it, will execute any Short Sales during the period from the date hereof to the end of the Commitment Period.
For the purposes hereof, and in accordance with Regulation SHO, the sale after delivery of the Purchase Notice of such number of shares
of Common Stock reasonably expected to be purchased under the Purchase Notice shall not be deemed a Short Sale. The parties acknowledge
and agree that during the Valuation Period, the Investor may contract for, or otherwise effect, the resale of the subject purchased Purchase
Notice Shares to third-parties. The Investor shall, until such time as the transactions contemplated by the Transaction Documents are
publicly disclosed by the Company in accordance with the terms of the Transaction Documents, maintain the confidentiality of the existence
and terms of this transaction and the information included in the Transaction Documents.

 

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

 

ARTICLE
VI 

COVENANTS OF THE COMPANY

 

Section
6.1 LISTING OF COMMON STOCK. The Company shall promptly secure the listing, where applicable, of all of the Common Stock to be
issued to the Investor hereunder on the Principal Market (subject to official notice of issuance, where applicable) and shall use commercially
reasonable best efforts to maintain, so long as any shares of Common Stock shall be so listed, the listing, if required, of all such
Common Stock from time to-time issuable hereunder. The Company shall use its commercially reasonable best efforts to continue the listing
or quotation and trading of the Common Stock on the Principal Market (including, without limitation, maintaining sufficient net tangible
assets, if required) and will comply in all respects with the Company’s reporting, filing and other obligations under the bylaws
or rules of the Principal Market.

 

Section
6.2 FILING OF CURRENT REPORT. The Company agrees that it shall file a Current Report on Form 8-K, including the Transaction Documents
as exhibits thereto, with the SEC within the time required by the Exchange Act, relating to the execution of the transactions contemplated
by, and describing the material terms and conditions of, the Transaction Documents (the “Current Report”). The Company
shall permit the Investor to review and comment upon the final pre-filing draft version of the Current Report at least two (2) Business
Days prior to its filing with the SEC, and the Company shall give reasonable consideration to all such comments. The Investor shall use
its reasonable best efforts to comment upon the final pre-filing draft version of the Current Report within one (1) Business Day from
the date the Investor receives it from the Company.

 

    	 

     

    

 

Section
6.3 FILING OF REGISTRATION STATEMENT. The Company shall file with the SEC, within five (5) Business Days from the date hereof,
a prospectus supplement covering the offering and sale of the Purchase Notice Shares. The prospectus supplement shall relate to the transactions
contemplated by, and describing the material terms and conditions of, this Agreement, containing required information previously omitted
at the time of effectiveness of the Base Registration Statement in reliance on Rule 430B under the Securities Act, and disclosing all
information relating to the transactions contemplated hereby required to be disclosed in the Base Registration Statement and the prospectus
as of the date of the prospectus supplement, including, without limitation, information required to be disclosed in the section captioned
“Plan of Distribution” in the prospectus. The Company shall permit the Investor to review and comment upon the prospectus
supplement within a reasonable time prior to their filing with the SEC, the Company shall give reasonable consideration to all such comments,
and the Company shall not file the Current Report or the prospectus supplement with the SEC in a form to which the Investor reasonably
objects. The Investor shall furnish to the Company such information regarding itself, the Company’s securities beneficially owned
by the Investor and the intended method of distribution thereof, including any arrangement between the Investor and any other person
or relating to the sale or distribution of the Company’s securities, as shall be reasonably requested by the Company in connection
with the preparation and filing of the Current Report and the prospectus supplement, and shall otherwise cooperate with the Company as
reasonably requested by the Company in connection with the preparation and filing of the Current Report and the prospectus supplement
with the SEC. The Company shall have no knowledge of any untrue statement (or alleged untrue statement) of a material fact or omission
(or alleged omission) of a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances
under which they were made, not misleading, in any effective registration statement filed or any post-effective amendment or prospectus
which is a part of the foregoing. The Company shall promptly give the Investor notice of any event (including the passage of time) which
makes the final prospectus not to be in compliance with Section 5(b) or 10 of the Securities Act and shall use its best efforts thereafter
to file with the SEC any Post-Effective Amendment to the Base Registration Statement, amended prospectus or prospectus supplement in
order to comply with Section 5(b) or 10 of the Securities Act.

 

Section
6.4 ISSUANCE OF COMMITMENT SHARES. In consideration for the Investor’s execution and delivery of, and performance under
this Agreement, the Company shall cause the Transfer Agent to issue the Commitment Shares to the Investor within three Business Days
of Termination in the amount of 1% of the Commitment Amount priced at the lowest traded price of the common stock on the last trading
day before Termination. If, by Termination, the Company has issued a Purchase Notice directing the Investor to purchase Purchase Notice
Shares, then the Company shall have no obligation to issue to Investor the Commitment Shares.

 

    	 

     

    

 

ARTICLE
VII 

CONDITIONS TO DELIVERY OF

PURCHASE
NOTICE AND CONDITIONS TO CLOSING

 

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

 

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

 

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

 

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

 

(d)
PRINCIPAL MARKET REGULATION. The Company shall not issue any Purchase Notice Shares, and the Investor shall not have the right
to receive any Purchase Notice Shares, if the issuance of such Purchase Notice Shares would exceed the aggregate number of shares of
Common Stock which the Company may issue without breaching the Company’s obligations under the rules or regulations of the Principal
Market.

 

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

 

(a)
EFFECTIVE REGISTRATION STATEMENT. The Registration Statement, and any amendment or supplement thereto, shall remain effective
for the offering of the Securities and (i) the Company shall not have received notice that the SEC has issued or intends to issue a stop
order with respect to such Registration Statement or that the SEC otherwise has suspended or withdrawn the effectiveness of such Registration
Statement, either temporarily or permanently, or intends or has threatened to do so and (ii) no other suspension of the use of, or withdrawal
of the effectiveness of, such Registration Statement or related prospectus shall exist. The Investor shall not have received any notice
from the Company that the prospectus and/or any prospectus supplement fails to meet the requirements of Section 5(b) or Section 10 of
the Securities Act.

 

(b) ACCURACY
OF THE COMPANY’S REPRESENTATIONS AND WARRANTIES. The representations and warranties of the Company shall be true and
correct in all material respects as of the date of this Agreement and as of the date of each Closing (except for representations and
warranties specifically made as of a particular date).

 

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

 

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

 

    	 

     

    

 

(e)
ADVERSE CHANGES. Since the date of filing of the Company’s most recent annual report on Form 10-K, no event that had or
is reasonably likely to have a Material Adverse Effect has occurred except as otherwise disclosed in the SEC Documents.

 

(f) NO
SUSPENSION OF TRADING IN OR DELISTING OF COMMON STOCK. The trading of the Common Stock shall not have been suspended by the SEC
or the Principal Market, or otherwise halted for any reason, and the Common Stock shall have been approved for listing or quotation
on and shall not have been delisted from or no longer quoted on the Principal Market. In the event of a suspension, delisting, or
halting for any reason, of the trading of the Common Stock during the Valuation Period, as contemplated by this Section 7.2(f), the
Investor shall Purchase the Purchase Notice Shares in the respective Purchase Notice at a value equal to the par value of the
Company’s Common Stock.

 

(g)
BENEFICIAL OWNERSHIP LIMITATION. The number of Purchase Notice Shares then to be purchased by the Investor shall not exceed the
number of such shares that, when aggregated with all other shares of Common Stock then owned by the Investor beneficially or deemed beneficially
owned by the Investor, would result in the Investor owning more than the Beneficial Ownership Limitation (as defined below), as determined
in accordance with Section 13 of the Exchange Act. For purposes of this Section 7.2(g), in the event that the amount of Common Stock
outstanding is greater or lesser on a Closing Date than on the date upon which the Purchase Notice associated with such Closing Date
is given, the amount of Common Stock outstanding on such issuance of a Purchase Notice shall govern for purposes of determining whether
the Investor, when aggregating all purchases of Common Stock made pursuant to this Agreement, would own more than the Beneficial Ownership
Limitation following a purchase on any such Closing Date. In the event the Investor claims that compliance with a Purchase Notice would
result in the Investor owning more than the Beneficial Ownership Limitation, upon request of the Company the Investor will provide the
Company with evidence of the Investor’s then existing shares beneficially or deemed beneficially owned. The “Beneficial Ownership
Limitation” shall be 4.9% of the number of shares of the Common Stock outstanding immediately prior to the issuance of shares of
Common Stock issuable pursuant to a Purchase Notice. To the extent that the Beneficial Ownership Limitation is exceeded, the number of
shares of Common Stock issuable to the Investor shall be reduced so it does not exceed the Beneficial Ownership Limitation.

 

(h)
STOCK PROMOTION. The Company shall be free from any “stock promotion” flag from the OTC Markets Group.

 

(i)
NO KNOWLEDGE. The Company shall have no knowledge of any event more likely than not to have the effect of causing the effectiveness
of the Registration Statement to be suspended or any prospectus or prospectus supplement failing to meet the requirement of Sections
5(b) or 10 of the Securities Act (which event is more likely than not to occur within the fifteen (15) Business Days following the Business
Day on which such Purchase Notice is deemed delivered).

 

    	 

     

    

 

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

 

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

 

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

 

ARTICLE
VIII 

LEGENDS

 

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

 

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

 

ARTICLE
IX 

INDEMNIFICATION

 

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

 

    	 

     

    

 

Section
9.2 INDEMNIFICATION PROCEDURE.

 

(a)
A party that seeks indemnification under this Article 9 must promptly give the other party notice of any legal action. But a delay in
notice does not relieve an Indemnifying Party of any liability to any Indemnified Party, except to the extent the Indemnifying Party
shows that the delay prejudiced the defense of the action.

 

(b)
The Indemnifying Party may participate in the defense at any time or it may assume the defense by giving notice to the Indemnified Parties.
After assuming the defense, the Indemnifying Party:

 

(i)
must select counsel (including local counsel if appropriate) that is reasonably satisfactory to the Indemnified Parties;

 

(ii)
is not liable to the other party for any later attorney’s fees or for any other later expenses that the Indemnified Parties incur,
except for reasonable investigation costs;

 

(iii)
must not compromise or settle the action without the Indemnified Parties consent (which may not be unreasonably withheld); and

 

(iv)
is not liable for any compromise or settlement made without its consent.

 

(c)
If the Indemnifying Party fails to assume the defense within 10 days after receiving notice of the action, the Indemnifying Party shall
be bound by any determination made in the action or by any compromise or settlement made by the Indemnified Parties, and also remains
liable to pay the Indemnified Parties’ legal fees and expenses.

 

    	 

     

    

 

Section
9.3 METHOD OF ASSERTING INDEMNIFICATION CLAIMS. All claims for indemnification by any Indemnified Party under Section 9.2 shall
be asserted and resolved as follows: 

 

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

 

(i)
If the Indemnifying Party notifies the Indemnified Party within the Dispute Period that the Indemnifying Party desires to defend the
Indemnified Party with respect to the Third Party Claim pursuant to this Section 9.3(a), then the Indemnifying Party shall have the right
to defend, with counsel reasonably satisfactory to the Indemnified Party, at the sole cost and expense of the Indemnifying Party, such
Third Party Claim by all appropriate proceedings, which proceedings shall be vigorously and diligently prosecuted by the Indemnifying
Party to a final conclusion or will be settled at the discretion of the Indemnifying Party (but only with the consent of the Indemnified
Party in the case of any settlement that provides for any relief other than the payment of monetary damages or that provides for the
payment of monetary damages as to which the Indemnified Party shall not be indemnified in full pursuant to Section 9.2). The Indemnifying
Party shall have full control of such defense and proceedings, including any compromise or settlement thereof; provided,
however, that the Indemnified Party may, at the sole cost and expense of the Indemnified Party, at any time prior to the Indemnifying
Party’s delivery of the notice referred to in the first sentence of this clause (i), file any motion, answer or other pleadings
or take any other action that the Indemnified Party reasonably believes to be necessary or appropriate to protect its interests; and
provided, further, that if requested by the Indemnifying Party, the Indemnified Party will, at the sole cost and expense
of the Indemnifying Party, provide reasonable cooperation to the Indemnifying Party in contesting any Third Party Claim that the Indemnifying
Party elects to contest. The Indemnified Party may participate in, but not control, any defense or settlement of any Third Party Claim
controlled by the Indemnifying Party pursuant to this clause (i), and except as provided in the preceding sentence, the Indemnified Party
shall bear its own costs and expenses with respect to such participation. Notwithstanding the foregoing, the Indemnified Party may take
over the control of the defense or settlement of a Third Party Claim at any time if it irrevocably waives its right to indemnity under
Section 9.2 with respect to such Third Party Claim.

 

    	 

     

    

 

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

 

(iii)
If the Indemnifying Party notifies the Indemnified Party that it does not dispute its liability or the amount of its liability to the
Indemnified Party with respect to the Third Party Claim under Section 9.2 or fails to notify the Indemnified Party within the Dispute
Period whether the Indemnifying Party disputes its liability or the amount of its liability to the Indemnified Party with respect to
such Third Party Claim, the amount of Damages specified in the Claim Notice shall be conclusively deemed a liability of the Indemnifying
Party under Section 9.2 and the Indemnifying Party shall pay the amount of such Damages to the Indemnified Party on demand. If the Indemnifying
Party has timely disputed its liability or the amount of its liability with respect to such claim, the Indemnifying Party and the Indemnified
Party shall proceed in good faith to negotiate a resolution of such dispute; provided, however, that if the dispute is
not resolved within thirty (30) days after the Claim Notice, the Indemnifying Party shall be entitled to institute such legal action
as it deems appropriate.

 

    	 

     

    

 

(b)
In the event any Indemnified Party should have a claim under Section 9.2 against the Indemnifying Party that does not involve a Third
Party Claim, the Indemnified Party shall deliver a written notification of a claim for indemnity under Section 9.2 specifying the nature
of and basis for such claim, together with the amount or, if not then reasonably ascertainable, the estimated amount, determined in good
faith, of such claim (an “Indemnity Notice”) with reasonable promptness to the Indemnifying Party. The failure by any Indemnified
Party to give the Indemnity Notice shall not impair such party’s rights hereunder except to the extent that the Indemnifying Party
demonstrates that it has been irreparably prejudiced thereby. If the Indemnifying Party notifies the Indemnified Party that it does not
dispute the claim or the amount of the claim described in such Indemnity Notice or fails to notify the Indemnified Party within the Dispute
Period whether the Indemnifying Party disputes the claim or the amount of the claim described in such Indemnity Notice, the amount of
Damages specified in the Indemnity Notice will be conclusively deemed a liability of the Indemnifying Party under Section 9.2 and the
Indemnifying Party shall pay the amount of such Damages to the Indemnified Party on demand. If the Indemnifying Party has timely disputed
its liability or the amount of its liability with respect to such claim, the Indemnifying Party and the Indemnified Party shall proceed
in good faith to negotiate a resolution of such dispute; provided, however, that if the dispute is not resolved within thirty (30) days
after the Claim Notice, the Indemnifying Party shall be entitled to institute such legal action as it deems appropriate.

 

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

 

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

 

ARTICLE
X 

MISCELLANEOUS

 

Section
10.1 GOVERNING LAW; JURISDICTION. This Agreement shall be governed by and interpreted in accordance with the laws of the State
of New York without regard to the principles of conflicts of law. Each of the Company and the Investor hereby submits to the exclusive
jurisdiction of the United States federal and state courts located in New York, New York, with respect to any dispute arising under the
Transaction Documents or the transactions contemplated thereby.

 

Section
10.2 JURY TRIAL WAIVER. The Company and the Investor hereby waive a trial by jury in any action, proceeding or counterclaim brought
by either of the parties hereto against the other in respect of any matter arising out of or in connection with the Transaction Documents.

 

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

 

    	 

     

    

 

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

 

Section
10.5 TERMINATION. The Company may terminate this Agreement at any time in the event of a material breach of the Agreement by the
Investor, which shall be effected by written notice being sent by the non-breaching party to the breaching party. In addition, this Agreement
shall automatically terminate on the earlier of (i) the end of the Commitment Period or (ii) the date that, pursuant to or within the
meaning of any Bankruptcy Law, the Company commences a voluntary case or any Person commences a proceeding against the Company, a Custodian
is appointed for the Company or for all or substantially all of its property or the Company makes a general assignment for the benefit
of its creditors; provided, however, that the provisions of Articles III, IV, V, VI, IX and the agreements and covenants of the Company
and the Investor set forth in this Article X shall survive the termination of this Agreement. This Agreement may also be terminated by
the Company at any time for any reason by giving written notice to the Investor, provided, the Company has issued to the Investor at
least one Purchase Notice or the Commitment Shares.

 

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

 

Section
10.7 FEES AND EXPENSES. Except as expressly set forth in the Transaction Documents or any other writing to the contrary, each
party shall pay the fees and expenses of its advisers, counsel, accountants and other experts, if any, and all other expenses incurred
by such party incident to the negotiation, preparation, execution, delivery and performance of this Agreement. The Company shall pay
the Document Preparation Fee associated with the first Closing, and the Clearing Cost associated with each Closing, and any Transfer
Agent fees. The Company agrees that if the Company fails to fully comply with the provisions of Section 2.2(b) within two (2) Business
Days after the Delivery Cutoff the Company shall, at the Investor’s written instruction delivered after such second Business Day,
pay cash to the Investor equal to 115% multiplied by the Investor’s cost to purchase Purchase Notice Shares of Common Stock purchased
or acquired by the Investor pursuant to the applicable Purhcase Notice that have not been delivered or contain any restrictive legend
or that have any stop transfer orders maintained that prohibit or impede the transfer thereof in any respect.

 

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

 

    	 

     

    

 

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

 

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

 

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

 

Section
10.12 EQUITABLE RELIEF. The Company recognizes that in the event that it fails to perform, observe, or discharge any or all of
its obligations under this Agreement, any remedy at law may prove to be inadequate relief to the Investor. The Company therefore agrees
that the Investor shall be entitled to temporary and permanent injunctive relief in any such case without the necessity of proving actual
damages. In addition to being entitled to exercise all rights provided herein or granted by law, both parties will be entitled to specific
performance under the Transaction Documents. The parties agree that monetary damages may not be adequate compensation for any loss incurred
by reason of any breach of obligations contained in the Transaction Documents and hereby agree to waive and not to assert in any action
for specific performance of any such obligation the defense that a remedy at law would be adequate.

 

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

 

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

 

    	 

     

    

 

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

 

Section
10.16 DISPUTE RESOLUTION.

 

(a)
Submission to Dispute Resolution.

 

(i)
In the case of a dispute relating to the Average Daily Trading Volume, Purchase Notice Limit or VWAP (as the case may be) (including,
without limitation, a dispute relating to the determination of any of the foregoing), the Company or the Investor (as the case may be)
shall submit the dispute to the other party via facsimile or electronic mail (A) if by the Company, within two (2) Business Days after
the occurrence of the circumstances giving rise to such dispute or (B) if by the Investor at any time after the Investor learned of the
circumstances giving rise to such dispute. If the Investor and the Company are unable to promptly resolve such dispute relating to such
Average Daily Trading Volume, Purchase Notice Limit or VWAP (as the case may be), at any time after the second (2nd) Business Day following
such initial notice by the Company or the Investor (as the case may be) of such dispute to the Company or the Investor (as the case may
be), then the Company and the Investor may select an independent, reputable investment bank as mutually agreed upon to resolve such dispute.

 

(ii)
The Investor and the Company shall each deliver to such investment bank (A) a copy of the initial dispute submission so delivered in
accordance with the first sentence of this Section 10.16 and (B) written documentation supporting its position with respect to such dispute,
in each case, no later than 5:00 p.m. (New York time) by the fifth (5th) Business Day immediately following the date on which such investment
bank was selected (the “Dispute Submission Deadline”) (the documents referred to in the immediately preceding clauses (A)
and (B) are collectively referred to herein as the “Required Dispute Documentation”) (it being understood and agreed that
if either the Investor or the Company fails to so deliver all of the Required Dispute Documentation by the Dispute Submission Deadline,
then the party who fails to so submit all of the Required Dispute Documentation shall no longer be entitled to (and hereby waives its
right to) deliver or submit any written documentation or other support to such investment bank with respect to such dispute and such
investment bank shall resolve such dispute based solely on the Required Dispute Documentation that was delivered to such investment bank
prior to the Dispute Submission Deadline). Unless otherwise agreed to in writing by both the Company and the Investor or otherwise requested
by such investment bank, neither the Company nor the Investor shall be entitled to deliver or submit any written documentation or other
support to such investment bank in connection with such dispute (other than the Required Dispute Documentation).

 

    	 

     

    

 

(iii)
The Company and the Investor shall cause such investment bank to determine the resolution of such dispute and notify the Company and
the Investor of such resolution no later than ten (10) Business Days immediately following the Dispute Submission Deadline. The fees
and expenses of such investment bank shall be borne solely by the party submitting such dispute, and such investment bank’s resolution
of such dispute shall be final and binding upon all parties absent manifest error.

 

(b)
Miscellaneous. Both the Company and the Investor expressly acknowledge and agree that (i) this Section 10.16 constitutes an agreement
to arbitrate between the Company and the Investor (and constitutes an arbitration agreement) only with respect to such dispute in connection
with Section 10.16(a)(i) and that both the Company and the Investor are authorized to apply for an order to compel arbitration in order
to compel compliance with this Section 10.16, (ii) the terms of this Agreement and each other applicable Transaction Document shall serve
as the basis for the selected investment bank’s resolution of the applicable dispute, such investment bank shall be entitled (and
is hereby expressly authorized) to make all findings, determinations and the like that such investment bank determines are required to
be made by such investment bank in connection with its resolution of such dispute and in resolving such dispute such investment bank
shall apply such findings, determinations and the like to the terms of this Agreement and any other applicable Transaction Documents,
(iii) the Company and the Investor shall have the right to submit any dispute other than described in this Section 10.16 (a) to any state
or federal court sitting in The City of New York and (iv) nothing in this Section 10.16 shall limit the Company or the Investor from
obtaining any injunctive relief or other equitable remedies (including, without limitation, with respect to any matters described in
this Section 10.16). The Company and the Investor agree that all dispute resolutions may be conducted in a virtual setting to be mutually
agreed by both parties.

 

Section
10.17 NOTICES. All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder shall
be in writing and, unless otherwise specified herein, shall be (a) personally served, (b) delivered by reputable air courier service
with charges prepaid next Business Day delivery, or (c) transmitted by hand delivery, or email as a PDF, addressed as set forth below
or to such other address as such party shall have specified most recently by written notice given in accordance herewith. Any notice
or other communication required or permitted to be given hereunder shall be deemed effective upon hand delivery or delivery by email
at the address designated below (if delivered on a business day during normal business hours where such notice is to be received), or
the first business day following such delivery (if delivered other than on a business day during normal business hours where such notice
is to be received).

 

The
addresses for such communications shall be:

 

If
to the Company:

 

TRxADE
HEALTH Inc.

2420
Brunello Trace

Lutz,
Florida 33558

 

Email: suren@trxade.com

 

with
a copy (not constituting notice) to:

 

If
to the Investor:

 

WHITE
LION CAPITAL LLC

Email:
team@whitelioncapital.com

 

With a copy (not constituting notice) to:

 

Either
party hereto may from time to time change its address or email for notices under this Section 10.18 by giving prior written notice of
such changed address to the other party hereto.

 

[Signature
Page Follows]

 

    	 

     

    

 

IN
WITNESS WHEREOF, the parties have caused this Agreement to be duly executed by their respective officers thereunto duly authorized
as of the day and year first above written.

 

	 	TRxADE
    HEALTH Inc.
	 	 	 
	 	By:	
	 	Name:	Suren
    Ajjarapu
	 	Title:	Chief
    Executive Officer
	 	 	 
	 	White
    Lion Capital LLC
	 	 	 
	 	By:	
	 	Name:
    	Yash
    Thukral
	 	Title:	Managing
    Director

 

    	 

     

    

 

DISCLOSURE
SCHEDULES TO COMMON 

STOCK PURCHASE AGREEMENT

 

Schedule
4.5 – SEC Documents

 

Schedule 4.9 – Litigation

 

Schedule
4.10 – Registration Rights

 

    	 

     

    

 

EXHIBIT
A

 

FORM
OF PURCHASE NOTICE

 

TO:
WHITE LION CAPITAL LLC

 

We
refer to the Common Stock Purchase Agreement, dated as of September 7, 2022, (the “Agreement”), entered into by and
between TRxADE HEALTH Inc., and White Lion Capital LLC. Capitalized terms defined in the Agreement shall, unless otherwise defined herein,
have the same meaning when used herein.

 

We
hereby:

 

1)
Give you notice that we require you to purchase ____________ Purchase Notice Shares; and

 

2)
Certify that, as of the date hereof, the conditions set forth in Section 7 of the Agreement are satisfied.

 

	 	TRxADE
    HEALTH Inc.
	 	 	 
	 	By:
    	 
	 	Name:
    	Suren
    Ajjarapu
	 	Title:	Chief
    Executive Officer

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