Document:

Exhibit 10.1

 

SECURITIES PURCHASE AGREEMENT

 

This SECURITIES
PURCHASE AGREEMENT (this “Agreement”) is dated as of December 22, 2017, among FC Global Realty Incorporated,
formerly known as PhotoMedex, Inc., a Nevada corporation (the “Company”), and Opportunity Fund I-SS, LLC, a
Delaware limited liability company (the “Investor”). The Company and the Investor are collectively referred
to in this Agreement as the “Parties,” and each a “Party.”

 

RECITALS

 

Subject to the terms
and conditions set forth in this Agreement and in reliance upon the applicable exemptions from securities registration under the
Securities Act (as defined below), the Company desires to issue and sell to the Investor, and the Investor desires to purchase
from the Company, certain securities of the Company, as more fully described in this Agreement.

 

AGREEMENT

 

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

 

ARTICLE
1.

DEFINITIONS

 

1.1.          Definitions. In addition to the terms defined elsewhere in this Agreement, for all purposes of this Agreement, the
following terms shall have the meanings indicated in this Section 1.1:

 

“Action”
as to any Person, means any action, suit, inquiry, notice of violation, proceeding (including any partial proceeding such as a
deposition) or investigation pending or threatened in writing against or affecting such Person, any of such Person’s Subsidiaries
or any of such Person’s or such Subsidiaries’ respective properties, before or by any Governmental Body, arbitrator,
regulatory authority (federal, state, county, local or foreign), stock market, stock exchange or trading facility.

 

“Antigua”
means interests in Dutchman’s Bay and Serenity Bay, two planned full service resort hotel developments located in Antigua
and Barbuda, which are mandatory contributions under the Contribution Agreement and of which First Capital Real Estate Trust Incorporated
owns a 75% interest as contemplated by that certain Memorandum of Agreement, dated July 29, 2015, among BrownMcLennon, First Capital
Real Estate Investment LLC and the Government of Antigua and Barbuda, regarding the development of hotels on the properties known
as Dutchmans Bay and Goat Head Hill on Antigua and Barbuda.

 

“Business”
means the business currently conducted by the Company and/or its Subsidiaries as disclosed in the SEC Reports.

 

    

     

    

 

“Business Day”
means any day except Saturday, Sunday and any day which is a federal legal holiday or a day on which banking institutions in the
State of New York are authorized or required by law or other governmental action to close.

 

“Certificate
of Designation” means the Certificate of Designation of Preferences, Rights and
Limitations to be filed prior to the Closing by the Company with the Secretary of State of Nevada, in the form of Exhibit
B attached hereto.

 

“Commission”
means the Securities and Exchange Commission.

 

“Common Stock”
means the common stock of the Company, par value $0.01 per share, as publicly-traded upon any exchange for the trading of such
stock, and any securities into which such common stock may hereafter be reclassified or for which it may be exchanged as a class.

 

“Company’s
Knowledge” means the actual knowledge of the Company’s executive officers (as defined in Rule 3b-7 promulgated
under the Exchange Act) and directors after reasonable inquiry and knowledge that the Company’s directors and officers should
have had or should have come to their attention in the course of discharging their duties to the Company.

 

“Contribution
Agreement” means the Interest Contribution Agreement, dated March 31, 2017, among the Company, its newly-formed subsidiary
FC Global Realty Operating Partnership, LLC, a Delaware limited liability company, First Capital Real Estate Operating Partnership,
L.P., a Delaware limited partnership (the “Contributor”), and First Capital Real Estate Trust Incorporated,
a Maryland corporation, as amended.

 

“Exchange Act”
means the Securities Exchange Act of 1934, as amended.

 

“GAAP”
means accounting principles generally accepted in the U.S.

 

“Governmental
Body” means any: (a) nation, state, commonwealth, province, territory, county, municipality, district or other jurisdiction
of any nature; (b) federal, state, local, municipal, foreign or other government; or (c) governmental or quasi-governmental authority
of any nature (including any governmental or administrative division, department, agency, commission, instrumentality, official,
organization, unit, body or entity) and any court or other tribunal.

 

“Income Generating
Property” means a property or properties that have positive Nareit FFO before taking into account any investment that
has been made or is expected to be made by the Company.

 

“Investment
Amount” means the Investment Amount indicated on Exhibit A.

 

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“Legal Requirement”
means any federal state, local, municipal, foreign or other law, statute, constitution, principle of common law, resolution,
ordinance, code, edict, decree, rule, regulation, ruling or requirement issued, enacted, adopted, promulgated, implemented or otherwise
put into effect by or under the authority of any Governmental Body (or under the authority of any national securities exchange
upon which the Series B Preferred Stock or Common Stock is then listed or traded). Reference to any Legal Requirement means such
Legal Requirement as amended, modified, codified, replaced or reenacted, in whole or in part, and in effect from time to time,
and reference to any section or other provision of any Legal Requirement means that provision of such Legal Requirement from time
to time in effect and constituting the substantive amendment, modification, codification, replacement or reenactment of such section
or other provision.

 

“Lien”
means any interest in Property securing an obligation owed to a Person whether such interest is based on the common law, statute
or contract, and including but not limited to a security interest arising from a mortgage, lien, title claim, assignment, encumbrance,
adverse claim, contract of sale, pledge, conditional sale or trust receipt or a lease, consignment or bailment for security purposes.
The term “Lien” includes but is not limited to mechanics’, materialmens’, warehousemens’ and carriers’
liens and other similar encumbrances.

 

“Maximum Amount”
means $15,000,000

 

“Material Adverse
Effect” means any event, change, circumstance, effect or other matter that has, or could reasonably be expected to have,
either individually or in the aggregate with all other events, changes, circumstances, effects or other matters, with or without
notice, lapse of time or both, (i) a material and adverse effect on the legality, validity or enforceability of any Transaction
Document, (ii) a material and adverse effect on the results of operations, assets, properties, business or condition (financial
or otherwise) of the Company individually or the Company and the Subsidiaries, taken as a whole, or (iii) a material and adverse
impairment to the Company’s ability to perform on a timely basis its obligations under any Transaction Document, provided,
however, that any effect(s) arising from or relating to any of the following shall not be deemed, either alone or in combination,
to constitute, and shall not be taken into account in determining whether there has been or will be, a Material Adverse Effect:
(A) conditions affecting the industries in which the Business operates (which effect(s), in each case, do not disproportionately
affect the Business relative to other companies conducting businesses similar to the Business); (B) general economic, financial
market or geopolitical conditions (which effect(s), in each case, do not disproportionately affect the Business relative to other
companies conducting businesses similar to the Business); (C) any change in accounting rules (including GAAP), or the enforcement,
implementation or interpretation thereof, after the date hereof; or (D) any effect caused by, relating to or resulting from the
announcement or pendency of the transactions contemplated by this Agreement.

 

“Nareit FFO”
means net income (computed in accordance with U.S. GAAP) of a property or properties, excluding gains (or losses) from sales of
depreciable property and impairments of depreciable real estate assets, plus depreciation and amortization, and after adjustments
for unconsolidated partnerships and joint ventures.

 

“Offering”
means the offering and sale of the Shares pursuant to this Agreement.

 

“Outside Date”
means the date upon which further funding is terminated by the agreement of the Company and the Investor.

 

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“Outstanding
Indebtedness” means the following outstanding debts of the Company: (i) the Payout Notes and (ii) the outstanding Note
Payable to Proskauer Rose LLP.

 

“OTC Market”
means the OTC Bulletin Board system, the OTCQX market operated by OTC Markets and the OTCQB market operated by OTC Markets Group.

 

“Payout Notes”
means the Secured Convertible Payout Notes due October 12, 2018 in the aggregate principal amount of $5,626,600 issued to Dennis
M. McGrath, Dr. Dolev Rafaeli and Dr. Yoav Ben-Dror.

 

“Person”
means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability
company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

“Proceeding”
means an action, claim, suit, investigation or proceeding (including, without limitation, an investigation or partial proceeding,
such as a deposition), whether commenced or, to the Company’s Knowledge, threatened.

 

“Property”
means any interest in any kind of property or asset, whether real, personal or mixed, or tangible or intangible.

 

“Punta Brava”
means a golf and surf club development project on the Baja Peninsula in Mexico, which is an optional contribution under the
Contribution Agreement.

 

“Registration
Rights Agreement” means the Registration Rights Agreement, to be dated as of the First Closing Date, among the Company
and the Investor in the form of Exhibit C hereto.

 

“Securities”
means the Shares and the Underlying Shares.

 

“Securities
Act” means the Securities Act of 1933, as amended.

 

“Series B Preferred
Stock” means the Series B Preferred Stock of the Company, par value $0.01 per share, having the rights, preferences and
privileges set forth in the Certificate of Designation, which is reserved solely for issuance to the Investor.

 

“Shares”
means the shares of Series B Preferred Stock issued hereunder.

 

“Short Sales”
include, without limitation, all “short sales” as defined in Rule 200 promulgated under Regulation SHO under the Exchange
Act and all types of direct and indirect stock pledges, forward sale contracts, options, puts, calls, swaps and similar arrangements
(including on a total return basis), and sales and other transactions through non-US broker dealers or foreign regulated brokers.

 

“Subsidiary”
means any “significant subsidiary” as defined in Rule 1-02(w) of the Regulation S-X promulgated by the Commission under
the Exchange Act.

 

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“Trading Day”
means: (i) a day on which the Common Stock is traded on a Trading Market (other than an OTC Market), or (ii) if the Common Stock
is not listed on a Trading Market (other than an OTC Market), a day on which the Common Stock is traded in the over the counter
market, as reported by OTCQB, or (iii) if the Common Stock is not quoted on any Trading Market, a day on which the Common Stock
is quoted in the over the counter market as reported by the Pink Sheets LLC (or any similar organization or agency succeeding to
its functions of reporting prices); provided, that in the event that the Common Stock is not listed or quoted as set forth in (i),
(ii) and (iii) hereof, then Trading Day shall mean a Business Day.

 

“Trading Market”
means any of the New York Stock Exchange, the NYSE MKT, the NASDAQ Global Select Market, the NASDAQ Global Market, the NASDAQ Capital
Market, an OTC Market or any other market on which the Common Stock may be listed or quoted for trading on the date in question.

 

“Transaction
Documents” means this Agreement, the Certificate of Designation, the Registration Rights Agreement, the Voting Agreement
and any other documents or agreements executed in connection with the transactions contemplated hereunder.

 

“Underlying
Shares” means the shares of Common Stock issued and issuable upon conversion of the Shares.

 

“Voting Agreement”
means the Shareholder Voting Support and Confidentiality Agreement, to be dated as of the First Closing Date, among the Investor
and certain stockholders of the Company in the form of Exhibit D hereto.

 

ARTICLE
2.

PURCHASE AND SALE

 

2.1.          Subscription for Shares by the Investor. Subject to the terms and conditions of this Agreement, on each Closing Date
(as defined below), the Investor shall purchase, and the Company shall sell and issue to the Investor, the Shares specified on
Exhibit A, at a purchase price of $1.00 per Share.

 

2.2.          Closing.

 

(b)           First Closing. Subject to the terms and conditions set forth in this Agreement, on the date hereof, or at such other
time as the Company and the Investor mutually agree upon, orally or in writing (which time is designated as the “First
Closing Date”), the Company shall issue and sell to the Investor, and the Investor shall purchase from the Company, 1,500,000
Shares for an aggregate purchase price of $1,500,000 (the “First Closing”).

 

(c)           Antigua Closing. Subject to the terms and conditions set forth in this Agreement, including satisfaction of the condition
set forth in Section 5.1(k), on or before December 31, 2017, or at such other time as the Company and the Investor mutually agree
upon, orally or in writing (which time is designated as the “Antigua Closing Date”), the Company shall issue
and sell to the Investor, and the Investor shall purchase from the Company, up to 1,000,000 Shares for an aggregate purchase price
of up to $1,000,000 (the “Antigua Closing”).

 

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(d)           Punta Brava Closing. Subject to the terms and conditions set forth in this Agreement, including satisfaction of the
condition set forth in Section 5.1(l), on or before December 31, 2017, or at such other time as the Company and the Investor mutually
agree upon, orally or in writing (which time is designated as the “Punta Brava Closing Date”), the Company shall
issue and sell to the Investor, and the Investor shall purchase from the Company, 500,000 Shares for an aggregate purchase price
of $500,000 (the “Punta Brava Closing”).

 

(e)           Subsequent Closing(s). Subsequent closings of the Offering shall take place on a rolling basis determined by the
Investor (each, a “Subsequent Closing”) until the first to occur of: (i) the Maximum Amount being invested or
(ii) the Outside Date. The Company irrevocably commits to accept any and all investment amounts by the Investor in the Series B
Preferred Stock. Exhibit A to this Agreement shall be updated to reflect the number of additional Shares purchased at each
such Subsequent Closing. There may be more than one Subsequent Closing; provided, however, that the final Subsequent
Closing shall take place on or before the Outside Date. The date of any Subsequent Closing is hereinafter referred to as a “Subsequent
Closing Date”).

 

(f)            Closing. The First Closing, the Antigua Closing (if it occurs), the Punta Brava Closing (if it occurs) and any applicable
Subsequent Closings are each referred to in this Agreement as a “Closing.” The First Closing Date, the Antigua
Closing Date (if it occurs), the Punta Brava Closing Date (if it occurs) and any Subsequent Closing Date are sometimes referred
to herein as a “Closing Date.” The Closing at which the Maximum Amount is raised, or which is the last Closing
prior to the Outside Date, is referred to as the “Final Closing.” The date of the Final Closing is referred
to as the “Final Closing Date.” All Closings shall occur remotely via the exchange of documents and signatures
or as otherwise agreed to by the Parties.

 

2.3.          Signing and Closing Deliveries.

 

(a)           Subject to the provisions of this Section 2.3, the Company shall deliver or cause to be delivered to the Investor, against
the delivery by the Investor of the Investment Amount, the following (the “Company Deliverables”):

 

(i)            at the First Closing:

 

(A)           this Agreement, duly executed by the Company;

 

(B)            the Registration Rights Agreement, duly executed by the Company; 

 

(C)            the Voting Agreement, duly executed by the Contributor;

 

(D)           evidence of the filing and acceptance of the Certificate of Designation from the Secretary of State of Nevada;

 

(E)            an opinion from counsel for the Company, in form and substance satisfactory to the Investor;

 

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(ii)           at each Closing:

 

(A)           a stock certificate for the requisite number of Shares to be delivered to the Investor at such Closing;

 

(B)            a certificate executed on behalf of the Company by its Chief Executive Officer or its Chief Financial Officer, dated as
of the applicable Closing Date, certifying to the fulfillment of the conditions specified in Article 5; and

 

(C)            a certificate executed on behalf of the Company by its secretary dated as of the applicable Closing Date, certifying the
resolutions adopted by the board of directors of the Company approving the transactions contemplated by this Agreement, the other
Transaction Documents, the issuance of the Shares, and related documents on behalf of the Company, provided that the foregoing
certificate shall only be required to be delivered on the First Closing Date, unless any material information contained in the
certificate has changed.

 

(b)           By the First Closing, the Investor shall deliver or cause to be delivered the following (collectively, the “Investor
Deliverables”):

 

(i)             this Agreement, duly executed by the Investor;

 

(ii)            the Registration Rights Agreement, duly executed by the Investor; 

 

(iii)           the Voting Agreement, duly executed by the Investor;

 

(iv)           a completed Accredited Investor Questionnaire in the form attached as Exhibit E to this Agreement; and

 

(v)            a completed Selling Holder Questionnaire (as defined in the Registration Rights Agreement).

 

(c)            At each Closing, the Investor shall deliver or cause to be delivered to the Company its Investment Amount, in United States
dollars and in immediately available funds, by wire transfer to the account designated in writing by the Company for such purpose.

 

2.4.          The Registration Rights Agreement. The Registration Rights Agreement shall contain the terms and conditions and be
in the form attached hereto as Exhibit C.

 

2.5.          Use of Proceeds. The Company hereby covenants and agrees that the proceeds from the sale of Shares net of expenses
shall not be used to pay down the Outstanding Indebtedness, but shall be used by the Company as follows:

 

(a)            The proceeds from the First Closing shall be used for working capital and general corporate expenses.

 

(b)            The proceeds from the Antigua Closing shall be used for the acquisition of Antigua or other Income Generating Properties
that have been approved by the Company’s Board of Directors.

 

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(c)            The proceeds from the Punta Brava Closing, shall be used for the acquisition of Punta Brava or other Income Generating Properties
that have been approved by the Company’s Board of Directors.

 

(d)            Proceeds from Subsequent Closings shall be used to invest in Income Generating Properties that have been approved by the
Company’s Board of Directors or as otherwise agreed to between the Company and the Investor in writing prior to such Subsequent
Closings.

 

ARTICLE
3.

REPRESENTATIONS AND WARRANTIES

 

3.1.          Representations and Warranties of the Company. Except as set forth in the corresponding section of the schedules
delivered concurrently herewith, the Company hereby makes the following representations and warranties as of the date hereof and
as of the Closing Date to the Investor:

 

(a)            Subsidiaries. The Company owns, directly or indirectly, all of the capital stock or other equity interests of each
Subsidiary of the Company free and clear of any Liens, and all of the issued and outstanding shares of capital stock of each Subsidiary
are validly issued and are fully paid, nonassessable and free of preemptive and similar rights to subscribe for or purchase securities.

 

(b)            Organization and Qualification. The Company and each Subsidiary are duly incorporated or otherwise organized, validly
existing and in good standing under the laws of the jurisdiction of its incorporation or organization (as applicable), with the
requisite power and authority to own and use its properties and assets and to carry on its business as currently conducted. Neither
the Company nor any Subsidiary is in violation of any of the provisions of its respective certificate or articles of incorporation,
bylaws or other organizational or charter documents. The Company and each Subsidiary are duly qualified to conduct its respective
businesses and are in good standing 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, individually or in the aggregate, have or reasonably be expected to result in a Material Adverse Effect.

 

(c)            Authorization; Enforcement. The Company has the requisite corporate and other power and authority to enter into and
to consummate the transactions contemplated by each of the Transaction Documents and otherwise to carry out its obligations thereunder.
The execution and delivery of each of the Transaction Documents by the Company and the consummation by it of the transactions contemplated
thereby have been duly authorized by all necessary action on the part of the Company, and no further action is required by the
Company or any Subsidiary in connection therewith. Each Transaction Document has been (or upon delivery will have been) duly executed
by the Company and, when delivered in accordance with its terms, will constitute the 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, reorganization, moratorium, liquidation or similar laws relating to, or affecting generally the enforcement of, creditors’
rights and remedies or by other equitable principles of general application.

 

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(d)            No Conflicts. Except as set forth on Schedule 3.1(d), the execution, delivery and performance of each of the
Transaction Documents by the Company and the consummation by the Company of the transactions contemplated thereby do not and will
not (i) conflict with or violate any provision of the Company’s or any Subsidiary’s certificate or articles of incorporation,
bylaws or other organizational or charter documents, or (ii) conflict with, or constitute a default (or an event that with notice
or lapse of time or both would become a default) under, or give to others any rights of termination, amendment, acceleration or
cancellation (with or without notice, lapse of time or both) of, any material agreement, credit facility, debt or other instrument
(evidencing a Company or Subsidiary debt or otherwise) or other understanding to which the Company or any Subsidiary is a party
or by which any property or asset of the Company or a Subsidiary is bound or affected, or (iii) result in a material violation
of any Legal Requirement, order, judgment, injunction, decree or other restriction of any Governmental Body to which the Company
or a Subsidiary is subject (including federal and state securities laws and regulations), or by which any property or asset of
the Company or a Subsidiary is bound or affected.

 

(e)            Filings, Consents and Approvals. Except as set forth on Schedule 3.1(e), neither the Company nor any Subsidiary
is required to obtain any consent, waiver, authorization or order of, give any notice to, or make any filing or registration with,
any Governmental Body or other Person in connection with the execution, delivery and performance by the Company of the Transaction
Documents, other than (i) the filing with the Commission of one or more registration statements in accordance with the requirements
of the Registration Rights Agreement, (ii) filings required by state securities laws, (iii) the filing of a Notice of Sale of Securities
on Form D with the Commission under Regulation D of the Securities Act, (iv) those that have been made or obtained prior to the
date of this Agreement, and (v) other post-closing securities filings or notifications required to be made under federal or state
securities laws.

 

(f)             Issuance of the Shares. The Shares are duly authorized and, when issued and paid for in accordance with the Transaction
Documents, will be duly and validly issued, fully paid and nonassessable, free and clear of all Liens. The Underlying Shares, when
issued in accordance with the terms of the Transaction Documents, will be validly issued, fully paid and nonassessable, free and
clear of all Liens. The Company has reserved from its duly authorized Common Stock a number of shares sufficient for issuance of
the Underlying Shares pursuant to the Transaction Documents.

 

(g)            Capitalization.

 

(i)             Schedule 3.1(g) sets forth as of the date hereof (a) the authorized capital stock of the Company; (b) the number
and class of shares of capital stock issued and outstanding; (c) the number and class of shares of capital stock issuable pursuant
to the Company’s stock incentive plans or agreements; and (d) the number and class of shares of capital stock issuable and
reserved for issuance pursuant to securities exercisable for, or convertible into or exchangeable for any shares of capital stock
of the Company and a description of the number and rights of such securities of the Company.

 

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(ii)            Except as indicated in Schedule 3.1(g), all of the issued and outstanding shares of the Company’s capital stock
have been duly authorized and validly issued and are fully paid, nonassessable and free of pre-emptive rights and were issued in
full compliance with applicable state and federal securities law and any rights of third parties.

 

(iii)           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.

 

(iv)           Except as described on Schedule 3.1(g), there are no outstanding (i) shares of capital stock or voting securities
of the Company or (ii) options, warrants, script rights to subscribe to, calls or commitments of any character whatsoever relating
to, or securities, rights or obligations convertible into or exchangeable for, or giving any Person any right to subscribe for
or acquire, any shares of capital stock or voting securities or securities convertible into or exchangeable for capital stock or
voting securities of the Company, or contracts, commitments, understandings or arrangements by which the Company or any Subsidiary
is or may become bound to issue additional shares of capital stock or voting securities of the Company, or securities or rights
convertible or exchangeable into shares of capital stock or voting securities of the Company (the items in clauses (i) and (ii)
being referred to collectively as the “Company Securities”). There are no outstanding obligations of the Company
or any Subsidiary to repurchase, redeem or otherwise acquire any Company Securities.

 

(v)            The issuance and sale of the Shares will not obligate the Company to issue shares of Series B Preferred 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 such securities.

 

(vi)           Except as described on Schedule 3.1(g), there are no voting agreements, buy-sell agreements, option or right of first
purchase agreements or other agreements of any kind among the Company and any of the securities-holders of the Company relating
to the securities of the Company held by them.

 

(vii)          Except as set forth in Schedule 3.1(g), no Person has the right to require the Company to register any securities
of the Company under the Securities Act, whether on a demand basis or in connection with the registration of securities of the
Company for its own account or for the account of any other Person.

 

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(h)            SEC Reports; Financial Statements. The Company has filed all reports, schedules, forms, statements and other documents
and registration statements required to be filed by it under the Securities Act and the Exchange Act, including pursuant to Section
13(a) or 15(d) thereof, for the twelve months preceding the date hereof (or such shorter period as the Company was required by
law to file such reports) (the foregoing materials being collectively referred to herein as the “SEC Reports”
and, together with the Schedules to this Agreement (if any), the “Disclosure Materials”) on a timely basis or
has timely filed and received a valid extension of such time of filing and has filed any such SEC Reports prior to the expiration
of any such extension. As of their respective dates, the SEC Reports complied in all material respects with the requirements of
the Securities Act and the Exchange Act and the rules and regulations of the Commission promulgated thereunder, and none of the
SEC Reports, 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 and each Subsidiary included in the SEC Reports complied in all material respects with
applicable accounting requirements and the rules and regulations of the Commission with respect thereto as in effect at the time
of filing. Such financial statements have been prepared in accordance with GAAP, and fairly present in all material respects the
financial position of the Company and its consolidated Subsidiaries as of and for 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.
There is no transaction, arrangement, or other relationship between the Company or any Subsidiary and an unconsolidated or other
off balance sheet entity that is not disclosed in its financial statements that should be disclosed in accordance with GAAP.

 

(i)             Material Changes. Except as described on Schedule 3.1(i) or in the SEC Reports, since the date of the latest
audited financial statements included within the SEC Reports:

 

(i)            There has been no event or circumstance of any nature whatsoever that has resulted in, or could reasonably be expected to
result in, a Material Adverse Effect; or

 

(ii)           Except for this Agreement and the other Transaction Documents, there has been no transaction, event, action, development,
payment, or other matter of any nature whatsoever entered into by the Company that requires disclosure in an SEC Report which has
not been so disclosed.

 

(j)             No Undisclosed Material Liabilities. There are no liabilities of the Company or any Subsidiary of any kind whatsoever,
whether accrued, contingent, absolute, determined, determinable or otherwise, and there is no existing condition, situation or
set of circumstances which could reasonably be expected to result in such a liability, other than liabilities provided for in the
unaudited consolidated balance sheet of the Company and the Subsidiaries as of June 30, 2017.

 

(k)            Litigation. Except as disclosed on Schedule 3.1(k) or in the SEC Reports, there is no Action which (i) adversely
affects or challenges the legality, validity or enforceability of any of the Transaction Documents or the Shares or (ii) could,
if there were an unfavorable decision, individually or in the aggregate, have or reasonably be expected to result in a Material
Adverse Effect. Neither the Company nor any Subsidiary, nor to the Company’s Knowledge, any director or officer thereof (in
his or her capacity as such), is or has been the subject of any Action involving a claim of violation of or liability under federal
or state securities laws or a claim of breach of fiduciary duty, except as disclosed in the Disclosure Materials. There has not
been, and to the Company’s Knowledge, there is not pending or contemplated any investigation by the Commission involving
the Company or any current or former director or officer of the Company (in his or her capacity as such). The Commission has not
issued any stop order or other order suspending the effectiveness of any registration statement filed by the Company or any Subsidiary
under the Exchange Act or the Securities Act.

 

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(l)             Compliance. Neither the Company nor any Subsidiary (i) is in default under or in violation of (and no event has occurred
that has not been waived that, with notice or lapse of time or both, would result in a default by the Company or any Subsidiary
under), nor has the Company or any Subsidiary received notice of a claim that it is in default under or that it is in violation
of any indenture, loan or credit agreement or any other material agreement or instrument to which it is a party or by which it
or any of its properties is bound (whether or not such default or violation has been waived), (ii) is in violation of any order
of any court, arbitrator or Governmental Body, or (iii) is or has been in material violation of any statute, rule or regulation
of any governmental authority, including without limitation all foreign, federal, state and local laws relating to taxes, environmental
protection, occupational health and safety, product quality and safety and employment and labor matters. The Company is in compliance
with all effective requirements of the Sarbanes-Oxley Act of 2002, as amended, and the rules and regulations thereunder, that are
applicable to it.

 

(m)           Title to Assets. The Company and the Subsidiaries own, lease or otherwise have a valid right to use, all real property
that is material to the Business, good and marketable title in fee simple to all personal property owned by them that is material
to the Business and good and marketable title in all personal property owned by them that is material to the Business, in each
case free and clear of all Liens, except for Liens as do not materially affect the value of such property and do not materially
interfere with the use made and proposed to be made of such property by the Company and the Subsidiaries and Liens for the payment
of federal, state or other taxes, the payment of which is neither delinquent nor subject to penalties. Any real property and facilities
held under lease by the Company and the Subsidiaries that are material to the Business are held by them under valid, subsisting
and enforceable leases of which the Company and the Subsidiaries are in compliance in all material respects.

 

(n)            Taxes. The Company has timely and properly filed all tax returns required to be filed by it for all years and periods
(and portions thereof) for which any such tax returns were due. All such filed tax returns are accurate in all material respects.
The Company has timely paid all taxes due and payable (whether or not shown on filed tax returns). Except as disclosed on Schedule
3.1(n), there are no pending assessments, asserted deficiencies or claims for additional taxes that have not been paid. Except
as disclosed on Schedule 3.1(n), there have been no audits or examinations of any tax returns by any Governmental Body,
and the Company has not received any notice that such audit or examination is pending or contemplated. Except as disclosed on Schedule
3.1(n), no claim has been made by any Governmental Body in a jurisdiction where the Company does not file tax returns that
it is or may be subject to taxation by that jurisdiction. Except as disclosed on Schedule 3.1(n), to the Knowledge of the
Company, no state of facts exists or has existed which would constitute grounds for the assessment of any penalty or any further
tax liability beyond that shown on the respective tax returns. Except as disclosed on Schedule 3.1(n), there are no outstanding
agreements or waivers extending the statutory period of limitation for the assessment or collection of any tax.

 

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(o)            Intellectual Property. The Company and the Subsidiaries have, or have rights to use, all patents, patent applications,
trademarks, trademark applications, service marks, trade names, copyrights, licenses and other similar rights (collectively, the
“Intellectual Property Rights”) that are necessary or material for use in connection with the Business as described
in the SEC Reports. Neither the Company nor any Subsidiary has received a written notice that the Intellectual Property Rights
used by the Company or any Subsidiary violates or infringes upon the rights of any Person. Except as set forth in the SEC Reports,
to the Company’s Knowledge, all such Intellectual Property Rights are enforceable and there is no existing infringement by
another Person of any of the Intellectual Property Rights. The Company and its Subsidiaries have taken reasonable steps to protect
the Company’s and its Subsidiaries’ rights in their Intellectual Property Rights and confidential information (the
“Confidential Information”). Each employee, consultant and contractor who has had access to Confidential Information
which is necessary for the conduct of the Business as currently conducted or as currently proposed to be conducted has executed
an agreement to maintain the confidentiality of such Confidential Information and has executed appropriate agreements that are
substantially consistent with the Company’s standard forms thereof. Except under confidentiality obligations, there has been
no material disclosure of any of the Company’s or its Subsidiaries’ Confidential Information to any third party.

 

(p)            Affiliate Transactions. Except as disclosed on Schedule 3.1(p), since January 1, 2016, there have been no
transactions, or series of related transactions, agreements, arrangements or understandings, nor are there any currently proposed
transactions, or series of related transactions, that would be required to be disclosed under Item 404 of Regulation S-K (without
regard to the $120,000 threshold amount of any such transaction under such regulation) promulgated under the Securities Act or
any related party transaction that should be disclosed in the footnotes to financial statements under GAAP, that have not been
otherwise disclosed in the SEC Reports filed prior to the date hereof.

 

(q)            Certain Fees. No brokerage or finder’s fees or commissions are or will be payable by the Company to any broker,
financial advisor or consultant, finder, placement agent, investment banker, bank or other Person with respect to the transactions
contemplated by this Agreement.

 

3.2.          Representations and Warranties of the Investor. The Investor hereby makes the following representations and warranties
as of the date hereof and as of the Closing Date to the Company:

 

(a)            Organization; Authority. The Investor is an entity duly organized, validly existing and in good standing under the
laws of the jurisdiction of its organization with the requisite corporate or partnership power and authority to enter into and
to consummate the transactions contemplated by the Transaction Documents to which it is a party or a signatory and otherwise to
carry out its obligations thereunder. The execution, delivery and performance by the Investor of the transactions contemplated
by this Agreement has been duly authorized by all necessary corporate or, if the Investor is not a corporation, such partnership,
limited liability company or other applicable like action, on the part of the Investor. Each Transaction Document executed by the
Investor has been duly executed by the Investor, and when delivered by the Investor in accordance with the terms hereof, will constitute
the valid and legally binding obligation of the Investor, enforceable against it in accordance with its terms, except as such enforceability
may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting
generally the enforcement of, creditors’ rights and remedies or by other equitable principles of general application.

 

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(b)            Investment Intent. The Investor is acquiring the Securities as principal for its own account and not with a view
to or for distributing or reselling such Securities or any part thereof, without prejudice, however, to the Investor’s right
at all times to sell or otherwise dispose of all or any part of such Securities in compliance with applicable federal and state
securities laws. Subject to the immediately preceding sentence, nothing contained herein shall be deemed a representation or warranty
by the Investor to hold the Securities for any period of time. The Investor is acquiring the Securities hereunder in the ordinary
course of its business. The Investor does not have any agreement or understanding, directly or indirectly, with any Person to distribute
any of the Securities.

 

(c)            Investor Status. The Investor is not a registered broker-dealer under Section 15 of the Exchange Act. 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.
At the time the Investor was offered the Securities, it was, and at the date hereof it is, an “accredited investor”
as defined in Rule 501(a) under the Securities Act, and the Investor has completed and executed the Accredited Investor Questionnaire
attached as Exhibit E to this Agreement.

 

(d)            General Solicitation. The Investor is not purchasing the Securities as a result of any advertisement, article, notice,
meeting, or other communication regarding the Securities published in any newspaper, magazine or similar media or broadcast over
television or radio or presented at any seminar or any other general solicitation or general advertisement.

 

(e)            Access to Information. The Investor acknowledges that it has reviewed the Disclosure Materials and has been afforded
(i) the opportunity to ask such questions as it has deemed necessary of, and to receive answers from, representatives of the Company
concerning the terms and conditions of the offering of the Securities and the merits and risks of investing in the Securities;
(ii) access to information about the Company and the Subsidiaries and their respective financial condition, results of operations,
business, properties, management and prospects sufficient to enable it to evaluate its investment; and (iii) the opportunity to
obtain such additional information that the Company possesses or can acquire without unreasonable effort or expense that is necessary
to make an informed investment decision with respect to the investment. Neither such inquiries nor any other investigation conducted
by or on behalf of the Investor or its representatives or counsel shall modify, amend or affect the Investor’s right to rely
on the truth, accuracy and completeness of the Disclosure Materials and the Company’s representations and warranties contained
in the Transaction Documents.

 

(f)             Certain Trading Activities. Other than with respect to certain transactions previously disclosed by the Investor
to the Company, the Investor has not directly or indirectly, nor has any Person acting on behalf of or pursuant to any understanding
with the Investor, engaged in any transactions in the securities of the Company (including, without limitations, any Short Sales
involving the Company’s securities) since the earlier to occur of (i) the time that the Investor was first contacted by the
Company, or any other Person acting on behalf of the Company regarding an investment in the Company and (ii) the 30th
day prior to the date of this Agreement. The Investor covenants that neither it nor any Person acting on its behalf or pursuant
to any understanding with it will engage in any transactions in the securities of the Company (including Short Sales) prior to
the 45th day following the First Closing.

 

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(g)            Independent Investment Decision. The Investor has independently evaluated the merits of its decision to purchase
the Securities pursuant to the Transaction Documents, and the Investor confirms that it has not relied on the advice of any other
Investor’s business and/or legal counsel in making such decision.

 

(h)            Reliance on Exemptions. The Investor understands that the Securities are being offered and sold to it in reliance
upon specific exemptions from the registration requirements of United States federal and state securities laws and that the Company
is relying upon the truth and accuracy of, and the Investor’s compliance with, the representations, warranties, agreements,
acknowledgments and understandings of the Investor set forth herein in order to determine the availability of such exemptions and
the eligibility of the Investor to acquire the Securities. All of the information which the Investor has provided to the Company
is true, correct and complete as of the date this Agreement is signed, and if there should be any change in such information prior
to the Closing, the Investor will immediately provide the Company with such information.

 

The Company acknowledges and agrees that
the Investor has not made or makes any representations or warranties with respect to the transactions contemplated hereby other
than those specifically set forth in this Section 3.2.

 

ARTICLE
4.

OTHER AGREEMENTS OF THE PARTIES

 

4.1.          Transferability; Certificate.

 

(a)            The Securities may only be disposed of in compliance with state and federal securities laws. In connection with any transfer
of the Securities other than pursuant to an effective registration statement, the Company may require the transferor thereof to
provide to the Company an opinion of counsel selected by the transferor, the form and substance of which opinion shall be reasonably
satisfactory to the Company, to the effect that such transfer does not require registration of such transferred Securities under
the Securities Act.

 

(b)            Certificates evidencing the Securities will contain the following legend or a substantially similar legend, until such time
as they are not required to contain such a legend under the Securities Act:

 

THESE SECURITIES AND THE SECURITIES ISSUABLE
UPON CONVERSION OF THESE SECURITIES HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION
OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES
ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES
ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH
EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY. THESE SECURITIES MAY BE PLEDGED IN CONNECTION WITH
A BONA FIDE MARGIN ACCOUNT SECURED BY SUCH SECURITIES.

 

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4.2.          Securities Laws Disclosure; Publicity. By (i) 9:30 a.m. (Eastern time) on the Trading Day following the Closing Date,
the Company shall issue a press release, disclosing the transactions contemplated by the Transaction Documents and the Closing
and by (ii) 5:30 p.m. (Eastern time) on the fourth Trading Day following the Closing Date, the Company will file a Current Report
on Form 8-K, disclosing the material terms of the Transaction Documents (and attach as exhibits thereto all existing Transaction
Documents) and the Closing. The Company covenants that following such disclosure, the Investor shall no longer be in possession
of any material, non-public information with respect to the Company or any Subsidiary. In addition, the Company will make such
other filings and notices in the manner and time required by the Commission and the Trading Market on which the Common Stock is
quoted.

 

4.3.          Nominations to Board of Directors. Upon the First Closing, the Investor shall have the right to nominate two (2)
directors to the Company’s Board of Directors, whom the Company’s Board of Directors shall promptly appoint, to serve
until the next Annual Meeting of Stockholders.

 

4.4.          No Additional Indebtedness. For as long as the Shares are outstanding, the Company’s debt (as defined by GAAP),
excluding the Payout Notes, shall not exceed 45% of its fixed assets without the prior consent from the holders of a majority of
the Shares then outstanding. All Outstanding Indebtedness currently owed by the Company shall remain outstanding and serviced pursuant
to its terms as of the date hereof.

 

4.5.          Cancellation of Company Capital Stock Held by Contributor Parties. The Company agrees that the Investor is an intended
third party beneficiary of, and may enforce fully to the same extent as if it were the Company or otherwise a party to, the covenants
contained in Amendment No. 3 to the Contribution Agreement, which is being entered into on or about the date of the First Closing
(“Amendment No. 3”). The Company agrees that if any of the proceeds of this Offering are used to fund the acquisition
of either Antigua or Punta Brava, then the Company shall enforce its rights under Amendment No. 3 to ensure that the Contributor
cancels Transaction Shares in accordance with Amendment No. 3.

 

4.6.          Amendment to Series A Certificate of Designation. In order to induce the Investor to acquire the Shares, the Company
has agreed to amend the Certificate of Designation of the Company’s Series A Preferred Stock to change the conversion price
from $2.5183 to $1.12024021352 such that each share of Series A Preferred Stock will be initially convertible into 56.20 shares
of Common Stock of the Company instead of 25 shares of Common Stock of the Company. Therefore, as promptly as possible following
the First Closing Date, in accordance with Section 4.8, the Company shall hold a special meeting of its stockholders to authorize
and approve such amendment to the Certificate of Designation of the Series A Preferred Stock.

 

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4.7.          Stockholder Approval. The rules and regulations of The Nasdaq Stock Market require approval from the Company’s
stockholders prior to the issuance of shares of Common Stock upon conversion of the Shares issued in this Offering in excess of
19.99% of the Company’s issued and outstanding Common Stock on the applicable conversion date. Therefore, as promptly as
possible following the First Closing Date, the Company shall prepare and file with the Commission a proxy statement and take all
actions necessary under Nevada law and the listing rules of The Nasdaq Stock Market to hold a special meeting of its stockholders
to (i) authorize and approve the issuance of shares of Common Stock upon conversion of the Shares and (ii) authorize and approve
the amendment to the Certificate of Designation of the Series A Preferred Stock described in Section 4.6.

 

4.8.          Voting Agreement. At any time prior to the termination of the Voting Agreement, the Company shall cause any Person
who acquires any securities from the Company or any of its affiliates that, together with all securities held by such acquirer
and its affiliates, will own, directly or indirectly, five percent (5%) or more of the Company’s outstanding Common Stock
(after giving effect to the right of any such person to convert or exchange securities), to become a party to the Voting Agreement
by causing such person, as a condition to the delivery of such securities, to sign a counterpart signature page thereto that joins
such person to the Voting Agreement.

 

ARTICLE
5.

CONDITIONS PRECEDENT TO CLOSING

 

5.1.          Conditions Precedent to the Obligations of the Investor to Purchase Shares. The obligation of the Investor to acquire
Shares at the Closing is subject to the satisfaction or waiver by the Investor, at or before the Closing, of each of the following
conditions:

 

(a)            Representations and Warranties. The representations and warranties of the Company contained herein and under Registration
Rights Agreement or the Voting Agreement shall be true and correct as of the date when made and as of the Closing as though made
on and as of such date.

 

(b)            Performance. The Company shall have performed, satisfied and complied with all covenants, agreements and conditions
required by the Transaction Documents to be performed, satisfied or complied with by it at or prior to the Closing.

 

(c)            No Injunction. No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted,
entered, promulgated or endorsed by any court or governmental authority of competent jurisdiction that prohibits the consummation
of any of the transactions contemplated by the Transaction Documents.

 

(d)            Adverse Changes. Since the date of execution of this Agreement, no event or series of events shall have occurred
that reasonably could have or result in a Material Adverse Effect or a material adverse change with respect to the Company or the
Subsidiaries.

 

(e)            Company Deliverables. The Company shall have delivered the Company Deliverables in accordance with Section 2.3(a).

 

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(f)             Approvals. The Company shall have obtained any and all consents, permits, approvals, registrations and waivers necessary
or appropriate for consummation of the purchase and sale of the Shares and the consummation of the other transactions contemplated
by the Transaction Documents, all of which shall be in full force and effect.

 

(g)            Stop Orders. No stop order or suspension of trading shall have been imposed by the Commission or any other governmental
or regulatory body having jurisdiction over the Company or the market(s) where the Common Stock is listed or quoted, with respect
to public trading in the Common Stock.

 

(h)            Termination. This Agreement shall not have been terminated as to the Investor in accordance with Section 7.5.

 

(i)             Amendment No. 3 to Contribution Agreement. The Company, the other Acquiror Parties (as defined in the Contribution
Agreement) and the Contributor Parties (as defined in the Contribution Agreement) shall have entered into Amendment No. 3, pursuant
to which, the Contributor Parties will agree to cancel shares of Company capital stock held by them if proceeds from the transactions
contemplated by this Agreement are used to fund the acquisition of Antigua or Punta Brava, which amendment shall be in form and
substance satisfactory to the Investor.

 

(j)             Restrictions on Transfer of Company Stock. The Company’s Chief Executive Officer, Suneet Singal, and all entities
related to or affiliated with him shall have entered into a side letter with the Company and the Investor pursuant to which Mr.
Singal and such affiliates, will agree not to (a) transfer any Company stock or any other securities held by himself or by those
entities, directly or beneficially, except for distributions by the Contributor to First Capital Real Estate Trust Incorporated
and by First Capital Real Estate Trust Incorporated to its shareholders, (b) sell any of the Company’s Common or Preferred
Stock, of any class, without the approval of the Investor or, (c) for a period of six (6) months commencing on the date of Investor’s
dissolution, sell, nor permit to be sold, common stock during any 90 day period that is in excess of more than 1% of the outstanding
shares of common stock during such period.

 

(k)            Antigua Closing. The Antigua Closing shall additionally be conditioned upon the Company’s acquisition of Antigua
pursuant to the Contribution Agreement or the acquisition of another Income Generating Property that is approved by the board of
directors of the Company.

 

(l)             Punta Brava Closing. The Punta Brava Closing shall additionally be conditioned upon the Company’s acquisition
of Punta Brava pursuant to the Contribution Agreement or another Income Generating Property that is approved by the board of directors
of the Company.

 

(m)           Payout Notes and Stock Grant Agreement. The following events shall have occurred relating to the Payout Notes and
the holders of the Payout Notes, in each case, concurrent with the First Closing:

 

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(i)             The Payout Notes, in the aggregate, shall have been converted into 5,628,291 shares of Common Stock (such shares being the
“Payout Shares”), which number of shares was determined utilizing a conversion price that is equal to the VWAP
with respect to on-exchange transactions in the Common Stock executed on the NASDAQ during the thirty (30) NASDAQ Trading Days
prior to November 14, 2017, the date of the filing by the Company of a registration statement on Form S-3 covering such Payout
Shares;

 

(ii)             Each of the holders of the Payout Notes shall have entered into a Stock Grant Agreement with the Company (the “Stock
Grant Agreement”), in the form attached hereto as Exhibit F, relating to the issuance to the holders, subject
to the approval of the stockholders of the Company, of 1,857,336 shares of the Company’s Common Stock, which is equal, in
the aggregate, to thirty three percent (33%) of the total Payout Shares; and

 

(iii)           The Company shall issue a current report on Form 8-K concurrent with the First Closing disclosing the conversion of the
Payout Notes and the entry of the Company into the Stock Grant Agreement with the holders of the Payout Notes.

 

5.2.          Conditions Precedent to the Obligations of the Company to Sell Shares. The obligation of the Company to sell Shares
at the Closing is subject to the satisfaction or waiver by the Company, at or before the Closing, of each of the following conditions:

 

(a)            Representations and Warranties. The representations and warranties of the Investor contained herein shall be true
and correct in all material respects as of the date when made and as of the Closing Date as though made on and as of such date.

 

(b)            Performance. The Investor shall have performed, satisfied and complied in all material respects with all covenants,
agreements and conditions required by the Transaction Documents to be performed, satisfied or complied with by it at or prior to
the Closing.

 

(c)            No Injunction. No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted,
entered, promulgated or endorsed by any court or governmental authority of competent jurisdiction that prohibits the consummation
of any of the transactions contemplated by the Transaction Documents.

 

(d)            Investor Deliverables. The Investor shall have delivered the Investor Deliverables in accordance with Section 2.3(b).

 

(e)            Termination. This Agreement shall not have been terminated as to the Investor in accordance with Section 7.5.

 

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ARTICLE
6.

INDEMNIFICATION

 

6.1.          Right to Indemnification.

 

(a)            From and after the First Closing and subject to the other provisions of this Section 6.1, the Company and its successors
and permitted assignees (collectively, the “Company Indemnifying Party”) shall indemnify and hold Investor and
its successors and permitted assignees (the “Investor Indemnified Parties”) harmless from, any and all Damages
incurred or suffered by such Investor Indemnified Party arising out of: (i) any inaccuracy or other breach of any representation
or warranty of the Company in any of the Transaction Documents; or (ii) any breach of covenant or agreement made by the Company
in any of the Transaction Documents.

 

(b)            For the purposes of this Agreement, the following capitalized terms shall have the respective meanings ascribed to such
terms in this Section:

 

(i)             “Damages” shall mean the amount of (i) the sum of the aggregate amount of all damages, losses, liabilities
and expenses (including reasonable expenses of investigation and reasonable attorneys’ fees and expenses in connection with
any action, suit or proceeding whether involving a third party claim or a claim solely between the parties hereto, but excluding
any incidental, indirect or consequential damages, losses, liabilities or expenses; (ii) multiplied by the Indemnity Gross Up Factor.

 

(ii)            “Indemnity Gross Up Factor” shall equal X divided by Y, where X is equal to 1 and Y is equal to 1 minus
a fraction, the numerator of which is equal to the number of shares of Common Stock held by the Investor, determined as of the
date of the Demand Notice and on a fully diluted basis assuming the full conversion of Shares that the Investor is then entitled
to convert; and the denominator of which is the number of shares of Common Stock determined on a fully diluted basis.

 

6.2.          Procedures for Indemnification.

 

(a)            The Investor Indemnified Party shall provide a notice of indemnification demand (“Demand Notice”) promptly
after it has knowledge of any event that permits it to claim indemnification under the terms of this Agreement, however, the failure
to provide such prompt notice shall not reduce the obligations of the Company Indemnifying Parties except to the extent of actual
prejudice. Promptly after the delivery of the Demand Notice, the Company shall acknowledge the receipt and, if a third-party claim,
shall agree to defend the Investor Indemnified Parties from such claim with counsel that is reasonably acceptable to the Investor
Indemnified Parties. To the extent that the demand for indemnification specified in the Demand Notice is with respect to a third
party claim and the Company does not promptly acknowledge that it has an obligation to indemnify the Investor Indemnified Parties
from such claim and retain counsel that is reasonably acceptable to the Investor Indemnified Parties to defend such claim which
counsel continues to defend such claim, then the Investor Indemnified Parties may retain counsel and defend such action at the
expense of the Company Indemnifying Parties.

 

(b)            Any dispute or claim regarding the obligations of the Company Indemnifying Parties under this Agreement shall be determined
by arbitration in New York, New York before one arbitrator. The arbitration shall be administered by JAMS pursuant to its Comprehensive
Arbitration Rules and Procedures pursuant to JAMS’ Streamlined Arbitration Rules and Procedures. Judgment on the Award may
be entered in any court having jurisdiction. This clause shall not preclude parties from seeking provisional remedies in aid of
arbitration from a court of appropriate jurisdiction.

 

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6.3.          Limitations on Indemnification.

 

(a)            No Investor Indemnified Party shall be entitled to indemnification pursuant to Section 6.1 unless and until the aggregate
Damages incurred in respect of all claims under Section 6.1 collectively exceeds $50,000 whereupon Investor Indemnified Parties
shall only be entitled to indemnification hereunder from the Company Indemnifying Party for all such Damages incurred by Investor
Indemnified Parties in excess of such $50,000 threshold.

 

(b)            The amount of any Damages for which indemnification is provided under this Agreement shall be reduced by (i) any amounts
realized by the Investor Indemnified Party as a result of any indemnification, contribution or other payment by any third party,
(ii) any insurance proceeds actually recovered by any Investor Indemnified Party (which amount shall be reduced by the amount
by which insurance premiums for the Investor Indemnified Party are increased as a result of the Damages for which such insurance
proceeds were received by the Investor Indemnified Party) or any amounts actually recovered by any Investor Indemnified Party pursuant
to any indemnification agreement with any Person and (iii) any tax savings actually realized by the Investor Indemnified Party
(or its affiliates) in the taxable year in which the Damages are incurred.

 

ARTICLE
7.

MISCELLANEOUS

 

7.1.          Fees and Expenses. 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 the Transaction Documents.

 

7.2.          Entire Agreement. The Transaction Documents, together with the Exhibits and Schedules thereto, contain the entire
understanding of the Parties with respect to the subject matter hereof and supersede all prior agreements, understandings, discussions
and representations, oral or written, with respect to such matters, which the Parties acknowledge have been merged into such documents,
exhibits and schedules.

 

7.3.          Notices. Any and all notices or other communications or deliveries required or permitted to be provided hereunder
shall be in writing and shall be deemed given and effective on the earliest of (a) the date of transmission, if such notice or
communication is delivered via (i) facsimile (provided the sender receives a machine-generated confirmation of successful transmission)
at the facsimile number specified in this Section or (ii) electronic mail (i.e., Email) prior to 6:30 p.m. (Eastern) on a Trading
Day, (b) the next Trading Day after the date of transmission, if such notice or communication is delivered via (i) facsimile at
the facsimile number specified in this Section or (ii) electronic mail (i.e., Email) on a day that is not a Trading Day or later
than 6:30 p.m. (Eastern) on any Trading Day, or (c) the Trading Day following the date of mailing, if sent by U.S. nationally recognized
overnight courier service, or (d) upon actual receipt by the Party to whom such notice is required to be given, if sent by any
means other than facsimile or Email transmission. The address for such notices and communications shall be as follows:

 

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If to the Company:             410
Park Ave

New York, NY 10022

Attention: Suneet Singal

Facsimile:

Email: ssingal@photomedex.com; copy to mpupach@photomedex.com

 

With a copy to:                  BEVILACQUA
PLLC

1050 Connecticut Ave., NW, Suite 500

Washington, DC 20036

Attention: Louis A. Bevilacqua, Esq.

Email: lou@bevilacquapllc.com

 

If to the Investor:               Opportunity
Fund I-SS, LLC

c/o OP Fund I Manager, LLC

2481 Sunrise Blvd, Suite 200

Gold River, CA 95670

Attention: Kristen E. Pigman

Email: kris@the pigmancompanies.com

 

or such other address
as may be designated in writing hereafter, in the same manner, by such Person.

 

7.4.          Amendments; Waivers. No provision of this Agreement may be waived or amended except in a written instrument signed,
in the case of an amendment, by the Company and the Investor, in the case of a waiver, by the Party against whom enforcement of
any such waiver is sought. No waiver of any default with respect to any provision, condition or requirement of this Agreement shall
be deemed to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition
or requirement hereof, nor shall any delay or omission of either Party to exercise any right hereunder in any manner impair the
exercise of any such right.

 

7.5.          Termination. This Agreement may be terminated prior to Closing:

 

(a)            by written agreement of the Investor and the Company; and

 

(b)            by the Company or the Investor upon written notice to the other, if the Final Closing shall not have taken place by 6:30
p.m. Eastern time on or before December 31, 2018; provided, that the right to terminate this Agreement under this Section 7.5(b)
shall not be available to any Person whose failure to comply with its obligations under this Agreement has been the cause of or
resulted in the failure of the Final Closing to occur on or before such time; provided however that such termination will not affect
the right of any Party to sue for any breach by any other Party (or Parties).

 

7.6.          Construction. The headings herein are for convenience only, do not constitute a part of this Agreement and shall
not be deemed to limit or affect any of the provisions hereof. 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. This
Agreement shall be construed as if drafted jointly by the Parties, and no presumption or burden of proof shall arise favoring or
disfavoring any Party by virtue of the authorship of any provisions of this Agreement or any of the Transaction Documents.

 

    22

     

    

 

7.7.          Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the Parties and their successors
and permitted assigns. The Company may not assign this Agreement or any rights or obligations hereunder without the prior written
consent of the Investor. The Investor may assign any or all of its rights under this Agreement to any Person to whom the Investor
assigns or transfers any Shares, provided such transferee agrees in writing to be bound, with respect to the transferred Shares,
by the provisions hereof that apply to the “Investor.”

 

7.8.          No Third-Party Beneficiaries. This Agreement is intended for the benefit of the Parties hereto and their respective
successors and permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other Person.

 

7.9.          Mediation; Arbitration and Governing Law. In the event of a dispute between any of the Parties arising under or relating
in any way whatsoever to this Agreement, the disputing Parties shall attempt to resolve it through good faith negotiation. If the
dispute is not resolved through such negotiation, then the disputing Parties shall attempt to resolve it through mediation in the
State of New York, USA, with a neutral, third-party mediator mutually agreed upon by the disputing Parties. Unless otherwise agreed
by the disputing Parties, the costs of mediation shall be shared equally. If the dispute is not resolved through mediation, then
upon written demand by one of the disputing Parties it shall be referred to a mutually agreeable arbitrator. The arbitration process
shall be conducted in accordance with the laws of the United States of America and the State of New York, except as modified herein.
Venue for the arbitration hearing shall be the State of New York, USA. All remedies, legal and equitable, available in court shall
also be available in arbitration. The arbitrator’s decision shall be final and binding, and judgment may be entered thereon
in a court of competent jurisdiction. This Agreement shall be interpreted and enforced in accordance with the laws of the United
States of America and the State of New York, without regard to conflict of law principles thereof.

 

7.10.       
Survival. The representations, warranties, agreements and covenants contained herein shall survive the Closing and
the delivery of the Shares for 18 months following the Final Closing Date.

 

7.11.       
Execution. This Agreement may be executed in two or more counterparts, all of which when taken together shall be
considered one and the same agreement and shall become effective when counterparts have been signed by each Party and delivered
to the other Party, it being understood that both Parties need not sign the same counterpart. In the event that any signature is
delivered by facsimile or e-mail transmission, such signature shall create a valid and binding obligation of the Party executing
(or on whose behalf such signature is executed) with the same force and effect as if such facsimile or e-mail signature page were
an original thereof.

 

    23

     

    

 

7.12.       
Severability. If any provision of this Agreement is held to be invalid or unenforceable in any respect, the validity
and enforceability of the remaining terms and provisions of this Agreement shall not in any way be affected or impaired thereby
and the Parties will attempt to agree upon a valid and enforceable provision that is a reasonable substitute therefor, and upon
so agreeing, shall incorporate such substitute provision in this Agreement.

 

7.13.       
Remedies. In addition to being entitled to exercise all rights provided herein or granted by law, including recovery
of damages, each of the Investor and the Company 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
described in the foregoing sentence and hereby agrees to waive in any action for specific performance of any such obligation the
defense that a remedy at law would be adequate.

 

[Signature page follows]

 

    24

     

    

 

IN WITNESS WHEREOF,
the parties hereto have caused this Securities Purchase Agreement to be duly executed by their respective authorized signatories
as of the date first indicated above.

 

	 	COMPANY:
	 	 	 
	 	FC GLOBAL REALTY INCORPORATED
	 	 	 
	 	By: 	/s/ Suneet Singal
	 	 	Name: Suneet Singal
	 	 	Title: Chief Executive Officer and President

 

	 	INVESTOR:
	 	 	 
	 	OPPORTUNITY FUND I-SS, LLC
	 	 	 
	 	BY: 	OP FUND I MANAGER, LLC
	 	 	 
	 	By:	/s/ Kristen Pigman
	 	 	Name: Kristen Pigman
	 	 	Title: Director

 

     

     

    

 

EXHIBIT A 

 

	Investment 

Date	Investment 

Amount	Number of 

Shares
	12/22/2017	$1,500,000	1,500,000
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

     

     

    

 

EXHIBIT D

 

SHAREHOLDER VOTING SUPPORT AND CONFIDENTIALITY
AGREEMENT

 

SHAREHOLDER VOTING
SUPPORT AND CONFIDENTIALITY AGREEMENT (this “Agreement”), dated as of December 22, 2017, by and among Opportunity
Fund I-SS LLC (“OFI”) and those holders of securities of FC Global Realty Incorporated, formerly PhotoMedex,
Inc., a Nevada corporation (the “Company”), listed on Schedule I annexed hereto (each a “Securityholder”
and collectively, the “Securityholders”).

 

RECITALS

 

The Company and OFI
have entered into a Securities Purchase Agreement, dated December 22, 2017 (the “Securities Purchase Agreement”),
pursuant to which OFI will invest certain funds in the Company in exchange for shares of the Series B Preferred Stock, par value
$.01 per share, of the Company (the “Series B Stock”), which will be convertible into shares of the Common Stock,
par value $.01 per share, of the Company (the “Common Stock”). Capitalized terms used herein and not otherwise
defined herein shall have the respective meanings set forth in the Securities Purchase Agreement.

 

As of the date hereof,
each Securityholder is the record owner of the number and type of securities of the Company set forth opposite the name of such
Securityholder on Schedule I hereto.

 

As a condition to the
willingness of OFI to enter into the Securities Purchase Agreement and as an inducement and in consideration therefor, each Securityholder
has agreed to enter into this Agreement.

 

AGREEMENT

 

The parties, intending to be legally bound,
agree as follows:

 

SECTION 1. Securityholder
Meetings; Voting. Each Securityholder hereby agrees that from and after the date hereof and until this Agreement is terminated
in accordance with Section 8, such Securityholder shall appear in person or by proxy at any meeting of the Securityholders of the
Company called for purposes, and any adjournment or postponement thereof, or in any other circumstances upon which a vote, consent
or other approval with respect to the Securities Purchase Agreement or the transactions contemplated by the Securities Purchase
Agreement is sought by the Company and approved by the board of directors of the Company and recommended to the Securityholders
of the Company by the board of directors that include any of the following: (i) the adoption of the Securities Purchase Agreement
and the transactions contemplated by the Securities Purchase Agreement, (ii) the approval of issuance of shares of Series B Stock
as contemplated by the Securities Purchase Agreement, (iii) the approval of issuance of shares of Common Stock upon conversion
of shares of Series B Stock issued pursuant to the Securities Purchase Agreement, and (iv) an amendment (the “Series A
Amendment”) to the Certificate of Designation of the Company’s Series A Preferred Stock that changes the conversion
price from $2.5183 to $1.12024021352 such that each share of Series A Preferred Stock will be initially convertible into 56.20
shares of the Common Stock of the Company instead of 25 shares of the Common Stock of the Company.

 

     

     

    

 

Each Securityholder
hereby agrees that from and after the date hereof and until this Agreement is terminated in accordance with Section 8, such Securityholder
shall exercise all of his, her or its rights as a holder of securities of the Company to vote as follows to the extent that the
following are approved by the board of directors of the Company and recommended to the Securityholders of the Company: (i) in favor
of the adoption of the Securities Purchase Agreement and the approval of the transactions contemplated by the Securities Purchase
Agreement; (ii) in favor of any proposal seeking approval for the issuance to OFI or its designees of Common Stock (or securities
convertible into or exercisable for Common Stock) equal to 20% or more of the Common Stock or 20% or more of the voting power outstanding
before the issuance, in order that any shares of Series B Stock issued by the Company to OFI or its designees under the Securities
Purchase Agreement can be immediately converted into Common Stock (the “20% Proposal”); (iii) in favor of the
Series A Amendment; (iv) against any proposal made in opposition to, or in competition with, the matters set forth in (i), (ii)
or (iii) above; and (v) against any other action that is intended, or would reasonably be expected to, impede, interfere with,
delay, postpone, discourage or adversely affect the adoption of the Securities Purchase Agreement and approval of the transactions
contemplated by the Securities Purchase Agreement at any meeting of the Securityholders of the Company. In addition, from and after
a Date of Default (as defined below) each Security holder will vote the Required Percentage of voting power under securities held
by such Securityholder in favor of every proposal that is proposed by a majority of the holders of the Series B Stock (a “Stock
B Proposal”) as conclusively evidenced on a nonexclusive basis by a statement to such effect in a proxy or other instrument
soliciting the consent of any of the Securityholders and shall vote the Required Percentage of voting power under securities held
by such Securityholder against any proposal that is adverse to any such Stock B Proposal. It is the intention of this paragraph
that each Securityholder shall be obligated to vote in accordance with the above regardless of the particular wording of any proposal
put forth to the Securityholders of the Company, in a manner consistent with the purpose of authorizing the Securities Purchase
Agreement and the issuance to OFI or its designees of shares of Common Stock of the Company having the maximum voting power as
is contemplated by the Securities Purchase Agreement.

 

For the purposes of
this Agreement, the term (1) “Date of Default” shall mean the date that either (A) there is any material default
by the Company under the terms of the Securities Purchase Agreement that is not cured within thirty (30) days after receipt by
the Company of written notice from OFI that provides in reasonable detail a description of the breach, or (B) any failure of the
20% Proposal or the Series A Amendment proposal to be approved by the stockholders of the Company on or prior to March 31, 2018;
and (2) “Requisite Percentage” means the percentage of voting power of a Securityholder that is equal to the
quotient of (A) the number of shares into which the Series B Stock is convertible without giving effect to any restrictions on
conversion thereof, divided by (B) the sum of (i) the number of shares of the Common Stock of the Company outstanding plus (ii)
the number of shares of Common Stock underlying the outstanding Series B Stock.

 

SECTION 2. Restriction
on Transfer.

 

(a) Except as provided
by Sections 2(c) and 2(e), each Securityholder agrees that he, she or it will not directly or indirectly, prior to the termination
of this Agreement: (i) transfer, assign, sell, lend, sell short, gift-over, pledge, encumber, hypothecate, exchange or otherwise
dispose (whether by sale, liquidation, dissolution, dividend or distribution), or offer or solicit to do any of the foregoing,
of any or all of the equity securities and/or any debt or similar securities that are convertible into equity securities of the
Company held by him, her or it, including any additional equity securities and/or any debt or similar securities that are convertible
into equity securities of the Company which Securityholder may subsequently acquire, including all additional equity securities
which may be issued to Securityholder upon the exercise of any options, warrants or other securities convertible into or exchangeable
for securities of the Company (all such securities of such Securityholder, “Subject Securities”) or any right
or interest therein, or consent to any of the foregoing (any such action, a “Transfer”), (ii) enter or offer
to enter into any derivative arrangement with respect to, or create or suffer to exist any liens or encumbrances with respect to,
any or all of the Subject Securities or any right or interest therein, in either case that would reasonably be expected to prevent
or delay such Securityholder’s compliance with his, her or its obligations hereunder; (iii) enter of offer to enter
into any contract, option or other agreement, arrangement or understanding with respect to any Transfer; (iv) grant any proxy,
power-of-attorney or other authorization or consent with respect to any Subject Securities with respect to any matter that is,
or that could be exercised in a manner, inconsistent with the transactions contemplated by the Securities Purchase Agreement and
this Agreement or the provisions thereof and hereof; (v) deposit any Subject Securities into a voting trust, or enter into
a voting agreement or arrangement with respect to any Subject Securities; or (vi) enter or offer to enter into any contract
or agreement that would be breached by, or take any other action that would reasonably be expected to prevent or delay such Securityholder’s
compliance with its obligations hereunder.

 

    2 

     

    

 

(b) Each Securityholder
hereby acknowledges and agrees that the Company shall be entitled, during the term of this Agreement, to cause any transfer agent
for the Subject Securities to decline to effect any Transfer and to note stop transfer restrictions on the stock register and other
records relating to Subject Securities, and each Securityholder agrees to execute and deliver any further documents reasonably
requested by the Company in furtherance of the same.

 

(c) Notwithstanding
the foregoing, the restrictions set forth in this Section 2 shall not apply (A) to the exercise of any option, warrant or other
securities convertible or exchangeable for securities of the Company, or (B) to the following Transfers of Subject Securities by
the Securityholder, provided that such transfers may only be made following approval of the 20% Proposal by the Company’s
stockholders:

 

(i) if such Securityholder
is an individual (A) for nominal consideration or as a gift to any member of such Securityholder’s “immediate family”
(defined for purposes of this Agreement as the spouse, parents, lineal descendants, the spouse of any lineal descendant, and brothers
and sisters) or a trust for the benefit of such Securityholder or any member of such Securityholder’s immediate family, (B)
in connection with estate or tax planning, including but not limited to, dispositions from any grantor retained annuity trust established
for the direct benefit of the Securityholder and/or a member of the immediate family (defined as aforesaid) of the Securityholder,
(C) to non-profit organizations qualified as charitable organizations under Section 501(c)(3) of the Internal Revenue Code of 1986,
as amended or (D) upon the death of such Securityholder pursuant to a will or other instrument taking effect upon the death of
such Securityholder, or pursuant to the applicable laws of descent and distribution to such Securityholder’s estate, heirs
or distributees;

 

(ii) if the Securityholder
is a corporation, partnership, limited liability company or other entity, any Transfer to an Affiliate of the Securityholder if
such Transfer is not for value; and

 

(iii) sales of the
Company’s securities during any three-month period that do not exceed 1% of the average reported weekly trading volume during
the four weeks preceding the date of sale.

 

provided, however, that
in the case of any Transfer described in clauses (i) or (ii), it shall be a condition to the Transfer that (x) the transferee executes
and delivers to the Company and OFI, not later than one Business Day prior to such Transfer, a written agreement that is reasonably
satisfactory in form and substance to the Company and OFI to be bound by all of the terms of this Agreement (any references to
immediate family in the agreement executed by such transferee shall expressly refer only to the immediate family of the Securityholder
and not to the immediate family of the transferee) and (y) if the Securityholder is required to file a report under Section 16(a)
of the Securities Exchange Act of 1934, as amended, reporting a reduction in beneficial ownership of the Subject Securities or
any securities convertible into or exercisable or exchangeable for the Subject Securities, the Securityholder shall include a statement
in such report to the effect that, in the case of any Transfer pursuant to Section 2(c)(i) above, such Transfer is being made as
a gift or by will or intestate succession or, in the case of any Transfer pursuant to Section 2(c)(ii) above, such Transfer is
being made to a shareholder, partner or member of, or owner of a similar equity interest in, the Securityholder and is not a Transfer
for value.

 

    3 

     

    

 

(d) For purposes hereof,
“Affiliate” shall mean, with respect to any entity, any other person or entity directly or indirectly controlling,
controlled by or under common control with such entity. For purposes hereof, “control” (including the terms “controlled
by” and “under common control with”), as used with respect to any entity or person, means the possession, directly
or indirectly, of the power to direct or cause the direction of the management and policies of such entity or person, whether through
the ownership of voting securities or otherwise.

 

(e) Notwithstanding
the foregoing, the restrictions set forth in this Section 2 shall not apply to any Transfer by First Capital Real Estate Operating
Partnership, LP or First Capital Real Estate Trust Incorporated, in each case, to any holder of a security issued by any such person.

 

SECTION 3. Representations
and Warranties of Securityholders. Each Securityholder on its own behalf hereby represents and warrants to OFI as follows:

 

(a) The Securityholder
is the record owner of the equity securities and/or any debt or similar securities that are convertible into equity securities
of the Company set forth opposite the name of the Securityholder on Schedule I to this Agreement. As of the date of this Agreement,
the equity securities and/or any debt or similar securities that are convertible into equity securities of the Company set forth
opposite the name of the Securityholder on Schedule I to this Agreement represent all of the shares of equity securities and/or
any debt or similar securities that are convertible into equity securities of the Company owned of record by the Securityholder.

 

(b) If the Securityholder
is a corporation, partnership, limited liability company or other entity, such Securityholder is an entity duly organized, validly
existing and in good standing under the laws of its jurisdiction, and has all requisite organizational power and authority to execute
and deliver this Agreement and to consummate the transactions contemplated hereby, and has taken all necessary organizational action
to authorize the execution, delivery and performance of this Agreement.

 

(c) If the Securityholder
is an individual, such Securityholder has the valid capacity to execute and deliver this Agreement and has duly executed and delivered
this Agreement.

 

(d) If the Securityholder
is a corporation, partnership, limited liability company or other entity, this Agreement has been duly authorized, executed and
delivered by such Securityholder.

 

(e) This Agreement
constitutes a valid and binding obligation of the Securityholder, enforceable against the Securityholder in accordance with its
terms, except as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance and other laws
of general application affecting enforcement of creditors’ rights generally.

 

(f) The execution,
delivery and performance by the Securityholder of this Agreement does not require any consent, approval, authorization or permit
of, action by, filing with or notification to any governmental authority or other third party, other than any consent, approval,
authorization, permit, action, filing or notification the failure of which to make or obtain would not, individually or in the
aggregate, be reasonably expected to prevent or materially delay the consummation of the transactions contemplated by the Securities
Purchase Agreement or the Securityholder’s ability to observe and perform its material obligations hereunder (a “Securityholder
Material Adverse Effect”).

 

    4 

     

    

 

(g) The execution,
delivery and performance by the Securityholder of this Agreement will not (i) result in a violation of, or default (with or without
notice or lapse of time, or both) under, require consent under or give rise to a right of termination, cancellation or acceleration
of any obligation or the loss of any benefit under any (A) contract, trust, commitment, agreement, understanding or arrangement
of any kind (a “Contract”) or (B) permit, concession, franchise, right or license binding upon the Securityholder,
(ii) result in the creation of any pledges, liens, claims, security interests, proxies, voting trusts or agreements, options, rights
(other than community property interests), understandings or arrangements or any other encumbrance or restriction whatsoever on
title transfer (collectively, “Encumbrances”), other than Encumbrances imposed by federal or state securities
laws (collectively, “Permitted Encumbrances”), upon any of the properties or assets of the Securityholder, (iii)
if the Securityholder is a corporation, partnership, limited liability company or other entity, conflict with or result in any
violation of any provision of the organizational documents of such Securityholder, or (iv) conflict with or violate any applicable
laws, other than, in the case of clauses (i), (ii) and (iv), as would not, individually or in the aggregate, be reasonably expected
to have a Securityholder Material Adverse Effect. The consummation by the Securityholder of the transactions contemplated by this
Agreement will not (i) violate any provision of any judgment, order or decree applicable to the Securityholder or (ii) require
any consent, approval, or notice under any statute, law, rule or regulation applicable to such Securityholder.

 

(h) The Securityholder’s
Subject Securities are now, and at all times during the term hereof will be, held by the Securityholder or by a nominee or custodian
for the benefit of the Securityholder, free and clear of all Encumbrances, except for (i) any such Encumbrances arising hereunder,
(ii) Permitted Encumbrances and (iii) any Encumbrance imposed by any margin account in with the Subject Securities may be held
(provided, that the Securityholder retains voting and dispositional control of any such Subject Securities).

 

(i) The Securityholder
understands and acknowledges that OFI is entering into the Securities Purchase Agreement in reliance upon the Securityholder’s
execution and delivery of this Agreement.

 

(j) No broker, investment
bank, financial advisor or other person is entitled to any broker’s, finder’s, financial adviser’s or similar
fee or commission in connection with the transactions contemplated hereby based upon arrangements made by or on behalf of the Securityholder.

 

SECTION 4. Representations
and Warranties of OFI. OFI hereby represents and warrants to the Securityholders as follows:

 

(a) OFI is a limited
liability company duly organized, validly existing and in good standing under the laws of the State of Delaware, and OFI has all
requisite organizational power and authority to execute and deliver this Agreement and to consummate the transactions contemplated
hereby, and has taken all necessary corporate action to authorize the execution, delivery and performance of this Agreement.

 

(b) This Agreement
has been duly authorized, executed and delivered by OFI, and, assuming this Agreement constitutes a valid and binding obligation
of the other parties hereto, constitutes a valid and binding obligation of OFI, enforceable against it in accordance with its terms,
except as limited by applicable bankruptcy, insolvency, reorganization, fraudulent conveyance, moratorium and other laws of general
application affecting enforcement of creditors’ rights generally.

 

(c) The execution,
delivery and performance by OFI of this Agreement does not require any consent, approval, authorization or permit of, action by,
filing with or notification to any governmental authority or other third party, other than any consent, approval, authorization,
permit, action, filing or notification the failure of which to make or obtain would not, individually or in the aggregate, be reasonably
expected to prevent or materially delay the consummation of the transactions contemplated by the Securities Purchase Agreement
or OFI’s ability to observe and perform its material obligations hereunder (a “OFI Material Adverse Effect”).

 

    5 

     

    

 

(d) The execution,
delivery and performance by OFI of this Agreement will not (i) result in a violation of, or default (with or without notice or
lapse of time, or both) under, require consent under or give rise to a right of termination, cancellation or acceleration of any
obligation or the loss of any benefit under any (A) Contract or (B) permit, concession, franchise, right or license binding upon
OFI, (ii) result in the creation of Encumbrances (other than Permitted Encumbrances) upon any of the properties or assets of OFI,
(iii) conflict with or result in any violation of any provision of the organizational documents of OFI, or (iv) conflict with or
violate any applicable laws, other than, in the case of clauses (i), (ii) and (iv), as would not, individually or in the aggregate,
be reasonably expected to have a OFI Material Adverse Effect. The consummation by OFI of the transactions contemplated by this
Agreement will not (i) violate any provision of any judgment, order or decree applicable to OFI or (ii) require any consent,
approval, or notice under any statute, law, rule or regulation applicable to OFI.

 

SECTION 5. Confidentiality.

 

(a) Confidentiality
by the Securityholders. Except as otherwise required by applicable law, each Securityholder agrees to treat and hold as confidential,
any confidential or proprietary information of OFI relating, except for any such information which is generally known to the public
or becomes generally known to the public, other than as a result of a disclosure by such Securityholder and not due to the breach
of this Agreement (“Confidential Information”), and to refrain from disclosing any Confidential Information,
except in accordance with the provisions of this Section 5. Unless otherwise public information, the existence of any business
negotiations, discussions, consultations or agreements in progress between the parties hereto, or between OFI and certain third
parties, shall not be released to any form of public media without the prior written consent of OFI. Each Securityholder agrees
that it shall treat all Confidential Information with at least the same degree of care as it accords to its own information of
like nature, and each Securityholder represents that it exercises at least reasonable care to protect its own confidential information.
Each Securityholder may disclose Confidential Information only to those of its employees, officers, directors, shareholders, partners,
members, or owners of a similar equity interest in such Securityholder, or any of such Securityholder’s agents or representatives
(all such persons or entities, collectively, “Securityholder Representatives”) who (i) need to know such
information for the purposes of advising such Securityholder with respect to the Securities Purchase Agreement and the consummation
of the transactions contemplated by the Securities Purchase Agreement and (ii) are informed by such Securityholder of the
confidential nature of the Confidential Information and the obligations under this Agreement with respect to such Confidential
Information. Each Securityholder also agrees to be responsible for enforcing the terms of this Agreement as to its Securityholder
Representatives and maintaining the confidentiality of the Confidential Information and to take such action, legal or otherwise,
to the extent necessary to cause them to comply with the terms and conditions of this Agreement and thereby prevent any disclosure
or prohibited use of Confidential Information by any of its Securityholder Representatives.

 

(b) Disclosure Required
by Law. Notwithstanding the foregoing, each Securityholder or any of the Securityholder’s Representatives may disclose
Confidential Information without OFI’s consent to the extent required by law or legal process (provided that, unless prohibited
by law, it first provides prompt notice to OFI so that OFI may seek a protective order or other appropriate remedy or consent to
the disclosure). In the event a Securityholder or any of the Securityholder’s Representatives are required to so disclose
Confidential Information, such Securityholder or such Representative may furnish that portion (and only that portion) of the Confidential
Information that such person or entity has been advised by legal counsel that it is legally compelled or otherwise required to
disclose, and such person or entity shall use all reasonable efforts to obtain reliable assurance that confidential treatment will
be accorded any Confidential Information so disclosed and, if requested by OFI, shall use reasonable efforts to assist OFI in obtaining
an order or other assurance that confidential treatment will be accorded to such Confidential Information so disclosed. Notwithstanding
the foregoing or anything else in this Agreement to the contrary, the Company may disclose the terms and conditions of this Agreement
as required by the rules and regulations of any national securities exchange, NASDAQ, or other market on which its securities are
listed or qualified, the Securities and Exchange Commission or other applicable governmental or regulatory body. If the Company
discloses the terms and conditions of this Agreement as provided in the immediately preceding sentence it shall use best efforts
to give the other Parties reasonable advance notice of such disclosure.

 

    6 

     

    

 

(c) Securityholder
Acknowledgment. Each Securityholder also acknowledges and agrees that it is aware of the restrictions imposed by the United
States federal securities laws and other applicable foreign and domestic laws on a person or entity in possession of material non-public
information about a public company and that such Securityholder will comply with such laws.

 

SECTION 6. Fiduciary
Responsibilities. No Securityholder executing this Agreement who is or becomes during the term hereof a director or officer
of the Company makes (or shall be deemed to have made) any agreement or understanding herein in his or her capacity as such director
or officer. Without limiting the generality of the foregoing, each Securityholder signs solely in his or her capacity as the record
owner of such Securityholder’s Subject Securities and nothing herein shall limit or affect any actions taken by such Securityholder
(or a designee of such Securityholder) in his or her capacity as an officer or director of the Company in exercising his or her
or the Company’s or the Company’s Board of Directors’ rights in connection with the Securities Purchase Agreement
or otherwise and such actions shall not be deemed to be a breach of this Agreement.

 

SECTION 7. Power
of Attorney.  Each Securityholder hereby irrevocably designates and appoints the Company and its duly authorized officers
and agents as its agent and attorney in fact, which appointment is coupled with an interest, to act on such Securityholder’s
behalf to execute any proxy relating to any meeting of the Securityholders of the Company called for the purposes set forth herein
and to do all other lawfully permitted acts to further such purposes with the same legal force and effect as if executed by such
Securityholder.

 

SECTION 8. Termination.

 

(a) This Agreement,
and all rights and obligations of the parties hereunder, shall terminate immediately upon the earliest to occur of the following:

 

(i) the date of the
termination of the Securities Purchase Agreement in accordance with its terms;

 

(ii) the later of
(A) the date that the registration statement filed in accordance with the terms of the Registration Rights Agreement with respect
to all Underlying Shares becomes effective or (B) the first Business Day following the date of the approval of the 20% Proposal
by the Company’s stockholders;

 

(iii) the mutual written
consent of OFI and the Securityholders; or

 

(iv) December 31,
2018.

 

(b) Except as set forth
in Section 8(c), upon termination of this Agreement, except in the case of liability for any willful breach by any party to this
Agreement prior to termination from which liability termination shall not relieve any such party, all obligations of the parties
under this Agreement will terminate, without any liability or other obligation on the part of any party hereto to any person or
entity in respect hereof or the transactions contemplated hereby, and no party shall have any claim against another (and no person
shall have any rights against such party), whether under contract, tort or otherwise.

 

(c) Section 4 of this
Agreement shall survive the termination of this Agreement until the first anniversary of the date of this Agreement. Section 8
of this Agreement shall survive the termination of this Agreement indefinitely.

 

    7 

     

    

 

SECTION 9. Expenses.
All fees and expenses incurred in connection with this Agreement and the transactions contemplated hereby shall be paid by the
party incurring such fees or expenses, whether or not the transactions contemplated by the Securities Purchase Agreement are consummated.

 

SECTION 10. Miscellaneous.

 

(a) Liabilities
Several. The agreements, obligations, representations and warranties of the Securityholders hereunder are made severally and
not jointly.

 

(b) Effectiveness
of Agreement. The agreements, obligations, representations and warranties of the Securityholders set forth in this Agreement
shall not be effective or binding upon any Securityholder until after such time as the Securities Purchase Agreement is executed
and delivered by the parties thereto.

 

(c) Notices.
All notices, consents, waivers and other communications required or permitted by this Agreement shall be in writing and shall be
deemed given to a party when (i) delivered to the appropriate address by hand or by nationally recognized overnight courier
service; or (ii) transmitted by telecopy or e-mail (with confirmation of transmission) by the transmitting equipment confirmed
with a copy delivered as provided in clause (i), in each case to the following addresses, facsimile numbers or e-mail addresses
and marked to the attention of the person (by name or title) designated below (or to such other address, telecopy number, e-mail
address or person as a party may designate by notice to the other parties).

 

If to OFI, to:

 

Opportunity Fund I-SS LLC 

c/o OP Fund
I Manager, LLC

2481 Sunrise
Blvd, Suite 200

Gold River,
CA 95670

Attention: Kristen E. Pigman

 

If to a Securityholder, to the address
set forth on Schedule I attached hereto.

 

If to the Company, to:

 

FC Global Realty Incorporated

410 Park Ave

New York, NY 10022

Attention: Suneet Singal

Email: ssingal@photomedex.com;
copy to mpupach@photomedex.com

 

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

 

BEVILACQUA PLLC

1050 Connecticut Ave., NW, Suite 500

Washington, DC 20036

Attention: Louis A. Bevilacqua, Esq.

Email: lou@bevilacquapllc.com

(d) Headings.
The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation
of this Agreement.

 

    8 

     

    

 

(e) Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall be deemed an original and all of which taken together
shall constitute one and the same instrument. This Agreement or any counterpart may be executed and delivered by facsimile copies
or delivered by electronic communications by portable document format (.pdf), each of which shall be deemed an original to the
other parties.

 

(f) Entire Agreement;
No Third Party Beneficiaries. This Agreement constitutes the entire agreement, and supersedes all prior agreements and understandings,
both written and oral, among the parties with respect to the subject matter of this Agreement and is not intended to confer,
nor shall it confer, upon any person other than the parties hereto any legal or equitable rights or remedies or benefits of any
nature whatsoever. Notwithstanding the foregoing, the holders of the Series B Stock are express third party beneficiaries under
this Agreement.

 

(g) Governing Law.
This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York, regardless of the laws
that might otherwise apply under applicable principles of conflicts of law thereof.

 

(h) Waiver of Jury
Trial. EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR LITIGATION
BETWEEN THE PARTIES HERETO ARISING OUT OF OR RELATING TO THIS AGREEMENT.

 

(i) Assignment;
Binding Effect. Neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned (in whole
or in part) by any of the parties hereto (whether by operation of law or otherwise) without the prior written consent of the other
parties, and any such assignment without such consent shall be null and void; notwithstanding the foregoing, OFI may assign the
rights and benefits of this Agreement to any of its members and each holder of Series B Stock may assign any of the rights and
benefits of this Agreement to any person that has or acquires any Series B Stock. No assignment by any party shall relieve such
party of any of its obligations hereunder. Subject to the preceding sentences, this Agreement shall be binding upon, and shall
inure to the benefit of, and shall be enforceable by the parties hereto and their respective successors and assigns.

 

(j) Severability
of Provisions. If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule
of law or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect,
insofar as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse
to any party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the
parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely
as possible to the fullest extent permitted by applicable law in an acceptable manner to the end that the transactions contemplated
hereby are fulfilled to the extent possible.

 

(k) Specific Performance,
Jurisdiction, Enforcement.

 

(i) The parties agree
that irreparable damage for which money damages, even if available, would not be an adequate remedy, if any provision of this Agreement
is not performed in accordance with its specific terms or is otherwise breached. Accordingly, the parties agree that, prior to
the valid termination of this Agreement in accordance with Section 9, each party shall be entitled to an injunction or injunctions,
or any other appropriate form of specific performance or equitable relief, to prevent breaches of this Agreement and to enforce
specifically the terms and provisions of this Agreement exclusively in the federal and state courts located in New York County,
New York, this being in addition to any other remedy to which they are entitled at law or in equity. Each party further agrees
that no other party shall be required to obtain, furnish or post any bond or similar instrument in connection with or as a condition
to obtaining any remedy referred to in this Section 10(k) , and each party hereto hereby irrevocably waives any right he, she or
it may have to require the obtaining, furnishing or posting of any such bond or similar instrument.

 

    9 

     

    

 

(ii) Each of the parties
(A) irrevocably submits itself to the exclusive jurisdiction of the federal and state courts located in the New York County, New
York for the purpose of any action, proceeding or litigation directly or indirectly based upon, relating to or arising out of this
Agreement or any of the transactions contemplated by this Agreement or the negotiation, execution or performance hereof or thereof,
or any other appropriate form of specific performance or equitable relief, (B) agrees that it will not attempt to deny or
defeat such personal jurisdiction by motion or other request for leave from any such court and (C) agrees that it will not
bring any action, proceeding or litigation relating to this Agreement or the transactions contemplated by this Agreement in any
court other than any of the federal and state courts located in the State of New York. Each of the parties hereby irrevocably waives,
and agrees not to assert, by way of motion, as a defense, counterclaim or otherwise, in any action, proceeding or litigation with
respect to this Agreement, (X) any claim that it is not personally subject to the jurisdiction of the above-named courts for
any reason other than the failure to serve in accordance with this Section 10(k), (Y) any claim that it or its property is
exempt or immune from jurisdiction of any such court or from any legal process commenced in such courts (whether through service
of notice, attachment prior to judgment, attachment in aid of execution of judgment, execution of judgment or otherwise) and (Z) to
the fullest extent permitted by the applicable law, any claim that (1) the suit, action or proceeding in such court is brought
in an inconvenient forum, (2) the venue of such suit, action or proceeding is improper or (3) this Agreement, or the
subject matter of this Agreement, may not be enforced in or by such courts.

 

(iii) Each of the
parties hereby irrevocably consents to service being made through the notice procedures set forth in Section 10(c) and agrees that
service of any process, summons, notice or document by personal delivery or by registered mail (return receipt requested and first-class
postage prepaid) to the respective addresses set forth in Section 10(c) and on the signature pages hereto shall be effective
service of process for any action, proceeding or litigation in connection with this Agreement or the transactions contemplated
hereby. Nothing in this Section 10(k) shall affect the right of any party to serve legal process in any other manner permitted
by law.

 

(l) Amendment.
No amendment or modification of this Agreement shall be effective unless it shall be in writing and signed by each of the parties
hereto, and no waiver or consent hereunder shall be effective against any party unless it shall be in writing and signed by such
party.

 

(m) Miscellaneous.

 

(i) Any word or term
used in this Agreement in any form shall be masculine, feminine, neuter, singular or plural, as proper reading requires. The words
“herein”, “hereof”, “hereby” or “hereto” shall refer to this Agreement unless otherwise
expressly provided. Any reference in this Agreement to a Section or any exhibit or schedule shall be a reference to a Section of,
and an exhibit or schedule to, this Agreement unless the context otherwise requires. Any reference in this Agreement to a “Business
Day” shall mean a day in which the New York branch of the Federal Reserve Bank is open for business during its normal hours
of operation.

 

(ii) In any action
or proceeding brought to enforce any provision of this Agreement, or where any provision of this Agreement is validly asserted
as a defense, the successful party shall be entitled to recover its actual attorneys’ fees and all disbursements in addition
to any other available remedy.

 

[Signature Page Follows]

 

    10 

     

    

 

IN WITNESS WHEREOF,
each of the parties hereto has caused this Agreement to be duly executed and delivered as of the date first written above. 

 

	 	OPPORTUNITY FUND I-SS LLC
	 	 	 
	 	BY: OP
Fund I Manager, LLC
	 	 	 
	 	By: 	 
	 	Name: Kristen Pigman
	 	Title: Director
	 	 	 
	 	SECURITYHOLDERS:
	 	 	 
	 	FIRST CAPITAL REAL ESTATE OPERATING PARTNERSHIP, LP
	 	 	 
	 	By: First Capital Real Estate Trust Incorporated, its general partner
	 	 	 
	 	By:	 
	 	Name: Suneet Singal
	 	Title: Chief Executive Officer
	 	 	 
	 	Yoav Ben-Dror
	 	 	 
	 	Dolev Rafaeli
	 	 	 
	 	Dennis M. McGrath

 

     

     

    

 

SCHEDULE I

 

	Name and Address	Security Held
	
        First Capital Real Estate Operating Partnership, LP

        60 Broad Street, 34th Floor

        New York NY 10004

        Attention: Suneet Singal
	
        879,234 shares of Common Stock and 79,389.64 shares
        of non-voting Series A Convertible Preferred Stock (currently convertible into 1,984,741 shares of Common Stock).

         

	
        Dolev Rafaeli

        __________________

        __________________

         
	
        149,774 shares of Common Stock, 3,134,876 additional
        shares of Common Stock that will be issued on the date hereof upon conversion of the Payout Note, 1,034,509 additional shares of
        Common Stock that will be issued following stockholder approval pursuant to the terms of the Share Grant Agreement, 33,750 additional
        shares of Common Stock subject to restriction agreements, vested options to purchase 35,600 shares of Common Stock, and unvested
        options to purchase 1,900 shares of Common Stock.

         

	
        Dennis M. McGrath

        __________________

        __________________

         
	
        26,528 shares of Common Stock, 977,960 additional shares
        of Common Stock that will be issued on the date hereof upon conversion of the Payout Note, 322,727 additional shares of Common
        Stock that will be issued following stockholder approval pursuant to the terms of the Share Grant Agreement, 24,750 additional
        shares of Common Stock subject to restriction agreements, vested options to purchase 37,490 shares of Common Stock and unvested
        options to purchase 1,400 shares of Common Stock.

         

	
        Yoav Ben-Dror

        __________________

        __________________

         
	299,184 shares of common stock, 1,515,455 additional shares of Common Stock that will be issued on the date hereof upon conversion of the Payout Note, 500,100 additional shares of Common Stock that will be issued following stockholder approval pursuant to the terms of the Share Grant Agreement, and warrants to purchase 11,500 shares of common stock.Exhibit 10.2

 

REGISTRATION
RIGHTS AGREEMENT

 

This
REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made and entered into as of December 22, 2017, by
and among FC Global Realty Incorporated, formerly known as PhotoMedex, Inc., a Nevada corporation (the “Company”)
and Opportunity Fund I-SS LLC, a Delaware limited liability company (the “Investor”).

 

RECITALS

 

A.          In
connection with the Securities Purchase Agreement by and among the parties hereto dated as of December 22, 2017 (the “Purchase
Agreement”), the Company has agreed, upon the terms and subject to the conditions set forth in the Purchase Agreement,
to issue and sell to the Investor shares of the Company’s Series B Preferred Stock, $0.001 par value per share (the “Series
B Preferred Stock”), which are convertible into shares of the Company’s Common Stock, $0.001 par value per share
(the “Common Stock”).

 

B.          In
accordance with the terms of the Purchase Agreement, the Company has agreed to provide certain registration rights for shares
of Common Stock underlying the Series B Preferred Stock under the Securities Act of 1933, as amended, and the rules and regulations
thereunder, or any similar successor statute (collectively, the “Securities Act”), and applicable state securities
laws.

 

AGREEMENT

 

NOW,
THEREFORE, in consideration of the premises and the mutual covenants contained herein and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Company and the Investor hereby agree as follows:

 

1.            Definitions.
Capitalized terms used and not otherwise defined herein that are defined in the Purchase Agreement will have the respective meanings
given such terms in the Purchase Agreement. As used in this Agreement, the following terms have the respective meanings set forth
in this Section 1 and other terms are defined throughout this Agreement:

 

“Commission”
means the United States Securities and Exchange Commission.

 

“Commission
Comments” means written comments pertaining solely to Rule 415 which are received by the Company from the Commission
to a filed Registration Statement, which either (i) requires the Company to limit the number of Registrable Securities which may
be included therein to a number which is less than the number sought to be included thereon as filed with the Commission or (ii)
requires the Company to either exclude Registrable Securities held by specified Holders or deem such Holders to be underwriters
with respect to Registrable Securities they seek to include in such Registration Statement.

 

“Effective
Date” means, as to a Registration Statement, the date on which such Registration Statement is first declared effective
by the Commission.

 

    	1 

     

    

 

“Effectiveness
Date” means (a) with respect to the initial Registration Statement required to be filed pursuant to Section 2(a), the
earlier of: (i) the 150th day following the Filing Date and (ii) the fifth Trading Day following the date on which
the Company is notified by the Commission that the initial Registration Statement will not be reviewed or is no longer subject
to further review and comments; (b) with respect to any additional Registration Statements required to be filed pursuant to Section
2(a), the earlier of: (i) the 120th day following the applicable Filing Date for such additional Registration Statement(s)
and (ii) the fifth Trading Day following the date on which the Company is notified by the Commission that such additional Registration
Statement(s) will not be reviewed or is no longer subject to further review; (c) with respect to a Registration Statement required
to be filed under Section 2(b), the earlier of: (i) the 120th day following the Filing Date, and (ii) the fifth Trading
Day following the date on which the Company is notified by the Commission that the Registration Statement will not be reviewed
or is no longer subject to further review and comments; and (d) with respect to any additional Registration Statements required
to be filed solely due to SEC Restrictions, the earlier of: (i) the 120th day following the applicable Restriction
Termination Date and (ii) the fifth Trading Day following the date on which the Company is notified by the Commission that such
Registration Statement will not be reviewed or is no longer subject to further review and comments.

 

“Effectiveness
Period” means, as to any Registration Statement required to be filed pursuant to this Agreement, the period commencing
on the Effective Date of such Registration Statement and ending on (a) the date that all of the Registrable Securities covered
by such Registration Statement have been publicly sold by the Holders of the Registrable Securities included therein, or (b) such
time as all of the Registrable Securities covered by such Registration Statement may be sold by the Holders without restriction
pursuant to Rule 144 as determined by the counsel to the Company pursuant to a written opinion letter to such effect, addressed
and acceptable to the Company’s transfer agent and the affected Holders.

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended.

 

“Filing
Date” means (a) with respect to the initial Registration Statement required to be filed pursuant to Section 2(a), the
30th day following the First Closing Date; (b) with respect to any additional Registration Statements required to be
filed pursuant to Section 2(a), the 30th day following the Effective Date for the last Registration Statement filed
pursuant to this Agreement under Section 2(a); (c) with respect to a Registration Statement required to be filed under Section
2(b), the 30th day following the date on which the Company becomes eligible to utilize Form S-3 to register the resale
of Common Stock; and (d) with respect to any additional Registration Statements required to be filed due to SEC Restrictions,
the 30th day following the applicable Restriction Termination Date.

 

“FINRA”
means the Financial Industry Regulatory Authority, Inc.

 

“Holder”
or “Holders” means the holder or holders, as the case may be, from time to time of Registrable Securities
and, if other than the Investor, a Person to whom the rights hereunder have been properly assigned pursuant to Section 7 hereof.

 

“Proceeding”
means an action, claim, suit, investigation or proceeding (including, without limitation, an investigation or partial proceeding,
such as a deposition), whether commenced or threatened.

 

    	2 

     

    

 

“Prospectus”
means the prospectus included in a Registration Statement (including, without limitation, a prospectus that includes any information
previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A promulgated
under the Securities Act), as amended or supplemented by any prospectus supplement, with respect to the terms of the offering
of any portion of the Registrable Securities covered by a Registration Statement, and all other amendments and supplements to
the Prospectus, including post-effective amendments, and all material incorporated by reference or deemed to be incorporated by
reference in such Prospectus.

 

“Registrable
Securities” means: (i) all of the shares of Common Stock then issued and issuable upon conversion in full
of the Series B Preferred Stock sold to the Investor under the Purchase Agreement (assuming on such date the shares
of Series B Preferred Stock are converted in full without regard to any conversion limitations therein) and (ii) any
securities issued or issuable upon any stock split, dividend or other distribution, recapitalization or similar event, or any
price adjustment as a result of such stock splits, reverse stock splits or similar events with respect to any of the securities
referenced in (i) above. Notwithstanding the foregoing, a security shall cease to be a Registrable Security for purposes of this
Agreement from and after such time as the Holder of such security may resell such security without restriction under Rule 144,
as determined by the counsel to the Company pursuant to a written opinion letter to such effect, addressed and acceptable to the
Company’s transfer agent and the affected Holders.

 

“Registration
Statement” means the initial registration statement required to be filed in accordance with Section 2(a) and any additional
registration statements required to be filed under this Agreement, including in each case the Prospectus, amendments and supplements
to such registration statements or Prospectus, including pre- and post- effective amendments, all exhibits thereto, and all material
incorporated by reference or deemed to be incorporated by reference therein.

 

“Required
Holders” means the Holders of at least a majority of the Registrable Securities.

 

“Rule
144” means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time
to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule.

 

“Rule
415” means Rule 415 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time
to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule.

 

“Rule
424” means Rule 424 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time
to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule.

 

“Series
B Original Issue Price” means $1.00.

 

“Trading
Market” means any of the New York Stock Exchange, the NYSE MKT, the NASDAQ Global Select Market, the NASDAQ Global Market,
the NASDAQ Capital Market, the OTCBB, the OTCQB, the OTCQX or any other market on which the Common Stock of the Company is listed
or quoted for trading on the date in question.

 

    	3 

     

    

 

2.            Registration.

 

(a)          On
or prior to the applicable Filing Date, the Company shall prepare and file with the Commission a Registration Statement covering
the resale of all Registrable Securities not already covered by an existing and effective Registration Statement for an offering
to be made on a continuous basis pursuant to Rule 415. Each Registration Statement required to be filed under this Agreement shall
be filed on Form S-1 (or on such other form appropriate for such purpose) and contain (except if otherwise required pursuant to
written comments received from the Commission upon a review of such Registration Statement, other than as to the characterization
of any Holder as an underwriter, which shall not occur unless such Holder consents in writing to such characterization) the “Plan
of Distribution” attached hereto as Annex A. The Company shall cause each Registration Statement required to be filed
under this Agreement to be declared effective under the Securities Act as soon as possible but, in any event, no later than its
Effectiveness Date, and shall use its commercially reasonable efforts to keep each such Registration Statement continuously effective
during its entire Effectiveness Period. By 5:00 p.m. (Eastern time) on the Business Day immediately following the Effective Date
of each Registration Statement, the Company shall file with the Commission in accordance with Rule 424 under the Securities Act
the final prospectus to be used in connection with sales pursuant to such Registration Statement (whether or not such filing is
technically required under such Rule). If for any reason other than due solely to SEC Restrictions (as defined below), a Registration
Statement is effective but not all outstanding Registrable Securities are registered for resale pursuant thereto, then the Company
shall prepare and file by the applicable Filing Date an additional Registration Statement to register the resale of all such unregistered
Registrable Securities for an offering to be made on a continuous basis pursuant to Rule 415.

 

(b)          Promptly
following any date on which the Company becomes eligible to use a registration statement on Form S-3 to register Registrable Securities
for resale, the Company shall file a Registration Statement on Form S-3 covering all Registrable Securities (or a post-effective
amendment on Form S-3 to the then effective Registration Statement) and shall cause such Registration Statement to be filed by
the Filing Date for such Registration Statement and declared effective under the Securities Act as soon as possible thereafter,
but in any event by the Effectiveness Date therefor. Such Registration Statement shall contain (except if otherwise required pursuant
to written comments received from the Commission upon a review of such Registration Statement, other than as to the characterization
of any Holder as an underwriter, which shall not occur unless such Holder consents in writing to such characterization) the “Plan
of Distribution” attached hereto as Annex A. The Company shall use its commercially reasonable efforts to keep such
Registration Statement continuously effective under the Securities Act during the entire Effectiveness Period. By 5:00 p.m. (Eastern
time) on the Business Day immediately following the Effective Date of such Registration Statement, the Company shall file with
the Commission in accordance with Rule 424 under the Securities Act the final prospectus to be used in connection with sales pursuant
to such Registration Statement (whether or not such filing is technically required under such Rule).

 

    	4 

     

    

 

(c)          Notwithstanding
anything to the contrary contained in this Section 2, if the Company receives Commission Comments, and following discussions with
and responses to the Commission (it being understood that the Company will permit the Holders and counsel to the Holders to review
and comment on such responses and any related amendments to the Registration Statement and incorporate any and all reasonable
comments of the Holders and counsel to the Holders relating thereto) in which the Company uses its commercially reasonable efforts
to cause as many Registrable Securities for as many Holders as possible to be included in the Registration Statement filed pursuant
to Section 2(a) without characterizing any Holder as an underwriter unless such Holder consents in writing to such characterization
(and in such regard uses its commercially reasonable efforts to cause the Commission to permit any Holder or its counsel to participate
in Commission conversations on such issue together with the Company’s counsel, and timely conveys relevant information concerning
such issue with the Holders or their counsel) (the day that such discussions and responses are concluded shall be referred to
as the “Tolling Date”), the Company is unable to cause the inclusion of all Registrable Securities, then the
Company may, following not less than three (3) Trading Days prior written notice to the Holders (i) remove from the Registration
Statement such Registrable Securities (the “Cut Back Shares”) and/or (ii) agree to such restrictions and limitations
on the registration and resale of the Registrable Securities, in each case as the Commission may require in order for the Commission
to allow such Registration Statement to become effective; provided, that in no event may the Company characterize any Holder
as an underwriter unless such Holder consents in writing to such characterization (collectively, the “SEC Restrictions”).
Unless the SEC Restrictions otherwise require, any cut-back imposed pursuant to this Section 2(c) shall be allocated among the
Registrable Securities of the Holders on a pro rata basis. The required Effectiveness Date for such Registration Statement will
be tolled until such time as the Company is able to effect the registration of the Cut Back Shares in accordance with any SEC
Restrictions if such Registrable Securities cannot at such time be resold by the Holders thereof without restrictions pursuant
to Rule 144 (such date, the “Restriction Termination Date”). From and after the Restriction Termination Date,
all provisions of this Section 2 shall again be applicable to the Cut Back Shares (which, for avoidance of doubt, retain their
character as “Registrable Securities”) if such Registrable Securities cannot at such time be resold by the Holders
thereof without volume limitations pursuant to Rule 144 so that the Company will be required to file with and cause to be declared
effective by the Commission such additional Registration Statements in the time frames set forth herein as necessary to ultimately
cause to be covered by effective Registration Statements all Registrable Securities. For the avoidance of doubt, the time period
starting from the Tolling Date and ending with the Restriction Termination Date shall be excluded in calculating the applicable
Effectiveness Date.

 

(d)          Each
Holder agrees to furnish to the Company a completed Questionnaire in the form attached to this Agreement as Annex B (a
“Selling Holder Questionnaire”). The Company shall not be required to include the Registrable Securities of
a Holder in a Registration Statement) to any Holder who fails to furnish to the Company a fully completed Selling Holder Questionnaire
at least two Trading Days prior to the Filing Date (subject to the requirements set forth in Section 3(a)).

 

    	5 

     

    

 

(e)          If:
(i) a Registration Statement is not filed on or prior to its Filing Date covering the Registrable Securities required under
this Agreement to be included therein, or (ii) a Registration Statement is not declared effective by the Commission on or
prior to its required Effectiveness Date or if by the first Business Day immediately following the Effective Date in which the
Commission accepts filings on its EDGAR database, the Company shall not have filed a “final” prospectus for the Registration
Statement with the Commission under Rule 424(b) in accordance with the terms hereof (whether or not such a prospectus is technically
required by such Rule), or (iii) after its Effective Date, without regard for the reason thereunder or efforts therefor,
such Registration Statement ceases for any reason to be effective and available to the Holders as to all Registrable Securities
to which it is required to cover at any time prior to the expiration of its Effectiveness Period for more than an aggregate of
30 Trading Days during any 12-month period, which need not be consecutive (any such failure or breach being referred to as an
“Event,” and for purposes of clauses (i) or (ii) the date on which such Event occurs, or for purposes
of clause (iii) the date on which such 30 Trading Day-period is exceeded, being referred to as “Event Date”),
then in addition to any other rights the Holders may have hereunder or under applicable law: on the last day of each 30-day period
after each such Event Date (if the applicable Event shall not have been cured by such date) until the applicable Event is cured,
the Company shall pay to each Holder an amount in cash, as partial liquidated damages and not as a penalty, equal to 1.0% of the
product obtained by multiplying (x) the Series B Original Issue Price by (y) the number of shares of Series B Preferred Stock
that are Registrable Securities and held by the Holders (such product being the “Investment Amount”). The parties
agree that in no event will the Company be liable for liquidated damages under this Agreement in excess of 1.0% of the Investment
Amount in any single month and that the maximum aggregate liquidated damages payable to the Holders under this Agreement shall
be ten percent (10%) of the Investment Amount. The partial liquidated damages pursuant to the terms hereof shall apply on a daily
pro-rata basis for any portion of each 30-day period prior to the cure of an Event, and shall cease to accrue (unless earlier
cured) upon the expiration of the Effectiveness Period.

 

3.            Registration
Procedures. In connection with the Company’s registration obligations hereunder:

 

(a)          The
Company shall not file a Registration Statement, any Prospectus or any amendments or supplements thereto in which the “Selling
Stockholder” section thereof differs from the disclosure received from a Holder in its Selling Holder Questionnaire (as
amended or supplemented). The Company shall not file a Registration Statement, any Prospectus or any amendments or supplements
thereto in which it (i) characterizes any Holder as an underwriter, unless such Holder consents in writing to such characterization,
(ii) excludes a particular Holder due to such Holder refusing to be named as an underwriter, or (iii) reduces the number of Registrable
Securities being registered on behalf of a Holder except pursuant to, in the case of subsection (iii), the Commission Comments,
without, in each case, such Holder’s express written authorization, unless such reduction is made pursuant to Section 2(c)
hereof. The Company shall also ensure that each Registration Statement (including any amendments or supplements thereto and prospectuses
contained therein) shall not contain any untrue statement of a material fact or omit to state a material fact required to be stated
therein, or necessary to make the statements therein (in the case of prospectuses, in the light of the circumstances in which
they were made) not misleading.

 

    	6 

     

    

 

(b)          The
Company shall (i) prepare and file with the Commission such amendments, including post-effective amendments, to each Registration
Statement and the Prospectus used in connection therewith as may be necessary to keep such Registration Statement continuously
effective as to the applicable Registrable Securities for its Effectiveness Period and prepare and file with the Commission such
additional Registration Statements in order to register for resale under the Securities Act all of the Registrable Securities;
(ii) cause the related Prospectus to be amended or supplemented by any required Prospectus supplement, and as so supplemented
or amended to be filed pursuant to Rule 424; (iii) respond as promptly as reasonably possible to any comments received from the
Commission with respect to each Registration Statement or any amendment thereto and, as promptly as reasonably possible provide
the Holders true and complete copies of all correspondence from and to the Commission relating to such Registration Statement
that would not result in the disclosure to the Holders of material and non-public information concerning the Company; and (iv)
comply in all material respects with the provisions of the Securities Act and the Exchange Act with respect to the Registration
Statement(s) and the disposition of all Registrable Securities covered by each Registration Statement.

 

(c)          The
Company shall notify the Holders as promptly as reasonably possible (and, in the case of (i)(A) below, not less than three Trading
Days prior to such filing and, in the case of (v) below, not less than three Trading Days prior to the financial statements in
any Registration Statement becoming ineligible for inclusion therein) and (if requested by any such Person) confirm such notice
in writing no later than one Trading Day following the day (i)(A) when a Prospectus or any Prospectus supplement or post-effective
amendment to a Registration Statement is proposed to be filed; (B) when the Commission notifies the Company whether there will
be a “review” of such Registration Statement and whenever the Commission comments in writing on such Registration
Statement (the Company shall provide true and complete copies thereof and all written responses thereto that pertain to the Holders
as a Selling Stockholder or to the Plan of Distribution, but not information which the Company believes would constitute material
and non-public information); and (C) with respect to each Registration Statement or any post-effective amendment, when the same
has become effective; (ii) of any request by the Commission or any other Federal or state governmental authority for amendments
or supplements to a Registration Statement or Prospectus or for additional information; (iii) of the issuance by the Commission
of any stop order suspending the effectiveness of a Registration Statement covering any or all of the Registrable Securities or
the initiation of any Proceedings for that purpose; (iv) of the receipt by the Company of any notification with respect to the
suspension of the qualification or exemption from qualification of any of the Registrable Securities for sale in any jurisdiction,
or the initiation or threatening of any Proceeding for such purpose; and (v) of the occurrence of any event or passage of time
that makes the financial statements included in a Registration Statement ineligible for inclusion therein or any statement made
in such Registration Statement or Prospectus or any document incorporated or deemed to be incorporated therein by reference untrue
in any material respect or that requires any revisions to such Registration Statement, Prospectus or other documents so that,
in the case of such Registration Statement or the Prospectus, as the case may be, it will not contain any untrue statement of
a material fact or omit to state any 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.

 

    	7 

     

    

 

(d)          The
Company shall use its commercially reasonable efforts to prevent the issuance of any stop order or other suspension of effectiveness
of a Registration Statement, or the suspension of the qualification of any of the Registrable Securities for sale in any jurisdiction
and, if such an order or suspension is issued, to obtain the withdrawal of such order or suspension at the earliest possible moment
and to notify the Holders of the issuance of such order and the resolution thereof or its receipt of actual notice of the initiation
or threat of any proceeding for such purpose.

 

(e)          The
Company shall provide to the Holders and their counsel with drafts of each Registration Statement and each amendment thereto within
a reasonable time in advance of the filing of the same with the Commission such that the Holders and their counsel may review
and comment on each such Registration Statement and each amendment thereto and the Company shall incorporate all reasonable comments
received from the Holders and their counsel with respect to such drafts prior to filing the same with the Commission. The Company
shall furnish to the Holders, without charge and at the option of the Company in electronic format, at least one conformed copy
of each Registration Statement and each amendment thereto and all exhibits to the extent requested by the Holders (including those
previously furnished) promptly after the filing of such documents with the Commission.

 

(f)          The
Company shall promptly deliver to the Holders, without charge, as many copies of each Prospectus or Prospectuses (including each
form of prospectus) and each amendment or supplement thereto as the Holders may reasonably request. The Company hereby consents
to the use of such Prospectus and each amendment or supplement thereto by each of the selling Holders in connection with the offering
and sale of the Registrable Securities covered by such Prospectus and any amendment or supplement thereto.

 

(g)          Prior
to any public offering of Registrable Securities, the Company shall register or qualify such Registrable Securities for offer
and sale under the securities or Blue Sky laws of all jurisdictions within the United States as any Holder may request, to keep
each such registration or qualification (or exemption therefrom) effective during the Effectiveness Period and to do any and all
other acts or things necessary or advisable to enable the disposition in such jurisdictions of the Registrable Securities covered
by the Registration Statements; provided, however, in connection with any such registration or qualification, the
Company shall not be required to (i) qualify to do business in any jurisdiction where the Company would not otherwise be required
to qualify, (ii) subject itself to general taxation in any such jurisdiction, (iii) file a general consent to service of process
in any jurisdiction, or (iv) make any change to the Company’s articles of incorporation or bylaws.

 

(h)          The
Company shall cooperate with the Holders to facilitate the timely preparation and delivery of certificates representing Registrable
Securities to be delivered to a transferee pursuant to the Registration Statement(s), which certificates shall be free, to the
extent permitted by the Purchase Agreement, of all restrictive legends, and to enable such Registrable Securities to be in such
denominations and registered in such names as any such Holders may request.

 

(i)          Upon
the occurrence of any event contemplated by Section 3(c)(v), as promptly as reasonably possible, the Company shall prepare a supplement
or amendment, including a post-effective amendment, to the affected Registration Statements or a supplement to the related Prospectus
or any document incorporated or deemed to be incorporated therein by reference, and file any other required document so that,
as thereafter delivered, no Registration Statement nor any Prospectus will contain an untrue statement of a material fact or omit
to state 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.

 

    	8 

     

    

 

(j)          The
Company shall notify the Holders in writing of the happening of any event, as promptly as practicable after becoming aware of
such event, as a result of which the prospectus included in a Registration Statement, as then in effect, includes an untrue statement
of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein,
in the light of the circumstances under which they were made, not misleading (provided that in no event shall such notice contain
any material, nonpublic information), and promptly prepare a supplement or amendment to such Registration Statement to correct
such untrue statement or omission. The Company shall also promptly notify the Holders in writing when a prospectus or any prospectus
supplement or post-effective amendment has been filed, and when a Registration Statement or any post-effective amendment has become
effective.

 

(k)          If
any Holder is required under applicable securities laws to be described in the Registration Statement as an underwriter, at the
reasonable request of such Holder, the Company shall furnish to such Holder, on the date of the effectiveness of the Registration
Statement and thereafter from time to time on such dates as a Holder may reasonably request: (i) a letter, dated such date, from
the Company’s independent certified public accountants in form and substance as is customarily given by independent certified
public accountants to underwriters in an underwritten public offering, addressed to the Holders, and (ii) an opinion, dated as
of such date, of counsel representing the Company for purposes of such Registration Statement, in form, scope and substance reasonably
acceptable to such counsel and as is customarily given in an underwritten public offering, addressed to the Holders.

 

(l)          The
Company shall hold in confidence and not make any disclosure of information concerning a Holder provided to the Company unless:
(i) disclosure of such information is necessary to comply with federal or state securities laws, (ii) the disclosure of such information
is necessary to avoid or correct a misstatement or omission in any Registration Statement, (iii) the release of such information
is ordered pursuant to a subpoena or other final, non-appealable order from a court or governmental body of competent jurisdiction,
or (iv) such information has been made generally available to the public other than by disclosure in violation of this Agreement
or any other agreement. The Company agrees that it shall, upon learning that disclosure of such information concerning a Holder
is sought in or by a court or governmental body of competent jurisdiction or through other means, give prompt written notice to
such Holder and allow such Holder, at the Holder’s expense, to undertake appropriate action to prevent disclosure of, or
to obtain a protective order for, such information.

 

(m)          The
Company shall use its commercially reasonable efforts to cause all of the Registrable Securities covered by a Registration Statement
to be listed on each national securities exchange on which securities of the same class or series issued by the Company are then
listed, if any, if the listing of such Registrable Securities is then permitted under the rules of such exchange. The Company
shall pay all fees and expenses in connection with satisfying its obligation under this Section 3(m).

 

    	9 

     

    

 

(n)          The
Company shall cooperate with the Holders who hold Registrable Securities being offered and, to the extent applicable, facilitate
the timely preparation and delivery of certificates (not bearing any restrictive legend to the extent permitted by the Purchase
Agreement) representing the Registrable Securities to be offered pursuant to a Registration Statement and enable such certificates
to be in such denominations or amounts, as the case may be, as the Holders may reasonably request and registered in such names
as the Holders may request.

 

(o)          If
requested by a Holder, the Company shall as soon as practicable: (i) incorporate in a prospectus supplement or post-effective
amendment such information as a Holder reasonably requests to be included therein relating to the sale and distribution of Registrable
Securities, including, without limitation, information with respect to the number of Registrable Securities being offered or sold,
the purchase price being paid therefor and any other terms of the offering of the Registrable Securities to be sold in such offering;
(ii) make all required filings of such prospectus supplement or post-effective amendment after being notified of the matters to
be incorporated in such prospectus supplement or post-effective amendment; and (iii) supplement or make amendments to any Registration
Statement if reasonably requested by a Holder holding any Registrable Securities.

 

4.            Registration
Expenses.

 

(a)          All
fees and expenses incident to the performance of or compliance with this Agreement by the Company shall be borne by the Company
whether or not any Registrable Securities are sold pursuant to a Registration Statement. The fees and expenses referred to in
the foregoing sentence shall include, without limitation, (i) all registration and filing fees (including, without limitation,
fees and expenses (A) with respect to filings required to be made with any Trading Market on which the Common Stock is then listed
or quoted for trading, (B) with respect to filings with FINRA by any underwriter’s counsel for compensation review pursuant
to FINRA Rule 5110, and (C) in compliance with applicable state securities or Blue Sky laws), (ii) printing expenses (including,
without limitation, expenses of printing certificates for Registrable Securities and of printing prospectuses if the printing
of prospectuses is reasonably requested by a Holder), (iii) messenger, telephone and delivery expenses, (iv) fees and disbursements
of counsel for the Company, (v) Securities Act liability insurance, if the Company so desires such insurance, and (vi) fees and
expenses of all other Persons retained by the Company in connection with the consummation of the transactions contemplated by
this Agreement. In addition, the Company shall be responsible for all of its internal expenses incurred in connection with the
consummation of the transactions contemplated by this Agreement (including, without limitation, all salaries and expenses of its
officers and employees performing legal or accounting duties), the expense of any annual audit and the fees and expenses incurred
in connection with the listing of the Registrable Securities on any securities exchange as required hereunder. In no event shall
the Company be responsible for any broker or similar commissions incurred by any Holder.

 

    	10 

     

    

 

5.            Indemnification.

 

(a)          Indemnification
by the Company. The Company shall, notwithstanding any termination of this Agreement, indemnify and hold harmless each Holder,
the officers, directors, agents, investment advisors, partners, members and employees of each of them, each Person who controls
any such Holder (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) and the officers, directors,
agents and employees of each such controlling Person, to the fullest extent permitted by applicable law, from and against any
and all losses, claims, damages, liabilities, costs (including, without limitation, reasonable costs of preparation and reasonable
attorneys’ fees) and expenses (collectively, “Losses”), as incurred, arising out of or relating to (i)
any untrue or alleged untrue statement of a material fact contained in any Registration Statement, any Prospectus or any form
of prospectus or in any amendment or supplement thereto or in any preliminary prospectus, or in any blue sky application or other
document executed by the Company specifically for that purpose or based upon written information furnished by the Company filed
in any state or other jurisdiction in order to qualify any or all of the Registrable Securities under the securities laws thereof
(any such application, document or information herein called a “Blue Sky Application”), or arising out of or
relating to any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements
therein (in the case of any Prospectus or form of prospectus or supplement thereto, in light of the circumstances under which
they were made) not misleading, except to the extent, but only to the extent, that such untrue statements or omissions are based
solely upon information regarding such Holder furnished in writing to the Company by such Holder expressly for use therein, or
to the extent that such information relates to such Holder or such Holder’s proposed method of distribution of Registrable
Securities and was reviewed and expressly approved in writing by such Holder expressly for use in the Registration Statement,
such Prospectus or such form of Prospectus, or such Blue Sky Application or in any amendment or supplement thereto, (ii) any violation
by the Company or its agents of any rule or regulation promulgated under the Securities Act applicable to the Company or its agents
and relating to action or inaction required of the Company in connection with such registration; or (iii) any failure to register
or qualify the Registrable Securities included in any such Registration Statement in any state where the Company or its agents
has affirmatively undertaken or agreed in writing that the Company will undertake such registration or qualification on the Investor’s
behalf and will reimburse the Investor, and each such officer, director or member and each such controlling person for any legal
or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability
or action. The Company shall notify the Holders promptly of the institution, threat or assertion of any Proceeding of which the
Company is aware in connection with the transactions contemplated by this Agreement.

 

(b)          Indemnification
by Holders. Each Holder shall, severally and not jointly, indemnify and hold harmless the Company, its directors, officers,
agents and employees, each Person who controls the Company (within the meaning of Section 15 of the Securities Act and Section
20 of the Exchange Act), and the directors, officers, agents or employees of such controlling Persons, to the fullest extent permitted
by applicable law, from and against all Losses, as incurred, arising solely out of or based solely upon any untrue statement of
a material fact contained in any Registration Statement, any Prospectus, or any form of prospectus, or in any amendment or supplement
thereto, or arising solely out of or based solely upon any omission of a material fact required to be stated therein or necessary
to make the statements therein not misleading to the extent, but only to the extent that, such untrue statements or omissions
are based solely upon information regarding such Holder furnished in writing to the Company by such Holder expressly for use therein,
or to the extent that such information relates to such Holder or such Holder’s proposed method of distribution of Registrable
Securities and was reviewed and expressly approved in writing by such Holder expressly for use in the Registration Statement,
such Prospectus or such form of Prospectus or in any amendment or supplement thereto. In no event shall the liability of any selling
Holder hereunder be greater in amount than the dollar amount of the net proceeds received by such Holder upon the sale of the
Registrable Securities giving rise to such indemnification obligation.

 

    	11 

     

    

 

(c)          Conduct
of Indemnification Proceedings. If any Proceeding shall be brought or asserted against any Person entitled to indemnity hereunder
(an “Indemnified Party”), such Indemnified Party shall promptly notify the Person from whom indemnity is sought
(the “Indemnifying Party”) in writing, and the Indemnifying Party shall assume the defense thereof, including
the employment of counsel reasonably satisfactory to the Indemnified Party and the payment of all fees and expenses incurred in
connection with defense thereof; provided, that the failure of any Indemnified Party to give such notice shall not relieve
the Indemnifying Party of its obligations or liabilities pursuant to this Agreement, except (and only) to the extent that it shall
be finally determined by a court of competent jurisdiction (which determination is not subject to appeal or further review) that
such failure shall have proximately and materially adversely prejudiced the Indemnifying Party.

 

An
Indemnified Party shall have the right to employ separate counsel in any such Proceeding and to participate in the defense thereof,
but the fees and expenses of such counsel shall be at the expense of such Indemnified Party or Parties unless: (1) the Indemnifying
Party has agreed in writing to pay such fees and expenses; (2) the Indemnifying Party shall have failed promptly to assume the
defense of such Proceeding and to employ counsel reasonably satisfactory to such Indemnified Party in any such Proceeding; or
(3) the named parties to any such Proceeding (including any impleaded parties) include both such Indemnified Party and the Indemnifying
Party, and such Indemnified Party shall have been advised by counsel that a conflict of interest is likely to exist if the same
counsel were to represent such Indemnified Party and the Indemnifying Party (in which case, if such Indemnified Party notifies
the Indemnifying Party in writing that it elects to employ separate counsel at the expense of the Indemnifying Party, the Indemnifying
Party shall not have the right to assume the defense thereof and such counsel shall be at the expense of the Indemnifying Party);
provided, that, the Indemnifying Party shall pay for no more than two separate sets of counsel for all Indemnified Parties
and such legal counsel shall be selected by the Required Holders. The Indemnifying Party shall not be liable for any settlement
of any such Proceeding effected without its written consent, which consent shall not be unreasonably withheld. No Indemnifying
Party shall, without the prior written consent of the Indemnified Party, effect any settlement of any pending Proceeding in respect
of which any Indemnified Party is a party, unless such settlement includes an unconditional release of such Indemnified Party
from all liability on claims that are the subject matter of such Proceeding.

 

All
fees and expenses of the Indemnified Party (including reasonable fees and expenses to the extent incurred in connection with investigating
or preparing to defend such Proceeding in a manner not inconsistent with this Section) shall be paid to the Indemnified Party,
as incurred, within ten Trading Days of written notice thereof to the Indemnifying Party (regardless of whether it is ultimately
determined that an Indemnified Party is not entitled to indemnification hereunder; provided, that the Indemnifying Party
may require such Indemnified Party to undertake to reimburse all such fees and expenses to the extent it is finally judicially
determined that such Indemnified Party is not entitled to indemnification hereunder).

 

    	12 

     

    

 

(d)          Contribution.
If a claim for indemnification under Section 5(a) or 5(b) is unavailable to an Indemnified Party (by reason of public policy or
otherwise), then each Indemnifying Party, in lieu of indemnifying such Indemnified Party, shall contribute to the amount paid
or payable by such Indemnified Party as a result of such Losses, in such proportion as is appropriate to reflect the relative
fault of the Indemnifying Party and Indemnified Party in connection with the actions, statements or omissions that resulted in
such Losses as well as any other relevant equitable considerations. The relative fault of such Indemnifying Party and Indemnified
Party shall be determined by reference to, among other things, whether any action in question, including any untrue or alleged
untrue statement of a material fact or omission or alleged omission of a material fact, has been taken or made by, or relates
to information supplied by, such Indemnifying Party or Indemnified Party, and the parties’ relative intent, knowledge, access
to information and opportunity to correct or prevent such action, statement or omission. The amount paid or payable by a party
as a result of any Losses shall be deemed to include, subject to the limitations set forth in Section 5(c), any reasonable attorneys’
or other reasonable fees or expenses incurred by such party in connection with any Proceeding to the extent such party would have
been indemnified for such fees or expenses if the indemnification provided for in this Section was available to such party in
accordance with its terms.

 

The
parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 5(d) were determined by
pro rata allocation or by any other method of allocation that does not take into account the equitable considerations referred
to in the immediately preceding paragraph. Notwithstanding the provisions of this Section 5(d), (i) no Person involved in the
sale of Registrable Securities which Person is guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of
the Securities Act) in connection with such sale shall be entitled to contribution from any Person involved in such sale of Registrable
Securities who was not guilty of fraudulent misrepresentation; and (ii) no Holder shall be required to contribute, in the aggregate,
any amount in excess of the amount by which the proceeds actually received by such Holder from the sale of the Registrable Securities
subject to the Proceeding exceeds the amount of any damages that such Holder has otherwise been required to pay by reason of such
untrue or alleged untrue statement or omission or alleged omission.

 

The
indemnity and contribution agreements contained in this Section are in addition to any liability that the Indemnifying Parties
may have to the Indemnified Parties.

 

6.            Reports
Under the Exchange Act. With a view to making available to the Holders the benefits of Rule 144 or any other similar rule
or regulation of the Commission that may at any time permit the Holders to sell Registrable Securities of the Company to the public
without registration, the Company agrees, for so long as Registrable Securities are outstanding and held by the Holders, to:

 

(a)          make
and keep public information available, as those terms are understood, defined and required in Rule 144;

 

    	13 

     

    

 

(b)          file
with the Commission in a timely manner all reports and other documents required of the Company under the Securities Act and the
Exchange Act so long as the Company remains subject to such requirements and the filing of such reports and other documents is
required for the applicable provisions of Rule 144; and

 

(c)          furnish
to each Holder so long as such Holder owns Registrable Securities, promptly upon request, such information as may be reasonably
and customarily requested to permit the Holders to sell such securities pursuant to Rule 144 without registration.

 

7.            Assignment
of Registration Rights. The rights under this Agreement shall be automatically assignable by the Investor to any permitted
transferee of all or any portion of such Investor’s Registrable Securities if: (i) the Investor agrees in writing with the
transferee or assignee to assign such rights, and a copy of such agreement is furnished to the Company within five (5) Business
Days after such assignment; (ii) the Company is, within five (5) Business Days after such transfer or assignment, furnished with
written notice of (a) the name and address of such transferee or assignee, and (b) the securities with respect to which such registration
rights are being transferred or assigned; (iii) immediately following such transfer or assignment the further disposition of such
securities by the transferee or assignee is restricted under the Securities Act or applicable state securities laws; (iv) at or
before the time the Company receives the written notice contemplated by clause (ii) of this sentence the transferee or assignee
agrees in writing with the Company to be bound by all of the provisions contained herein; and (v) such transfer shall have been
made in accordance with the applicable requirements of the Purchase Agreement.

 

8.            Miscellaneous.

 

(a)          Remedies.
In the event of a breach by the Company or by a Holder, of any of their obligations under this Agreement, each Holder or the Company,
as the case may be, in addition to being entitled to exercise all rights granted by law and under this Agreement, including recovery
of damages, will be entitled to specific performance of its rights under this Agreement. The Company and each Holder agree that
monetary damages would not provide adequate compensation for any losses incurred by reason of a breach by it of any of the provisions
of this Agreement and hereby further agrees that, in the event of any action for specific performance in respect of such breach,
it shall waive the defense that a remedy at law would be adequate.

 

(b)          No
Piggyback on Registrations. Neither the Company nor any of its security holders (other than the Holders in such capacity pursuant
hereto) may include securities of the Company in a Registration Statement other than the Registrable Securities, and the Company
shall not during the Effectiveness Period enter into any agreement providing any such right to any of its security holders.

 

(c)          Compliance.
Each Holder covenants and agrees that it will comply with the prospectus delivery requirements of the Securities Act as applicable
to it in connection with sales of Registrable Securities pursuant to the Registration Statement.

 

    	14 

     

    

 

(d)          Discontinued
Disposition. Each Holder agrees by its acquisition of such Registrable Securities that, upon receipt of a notice from the
Company of the occurrence of any event of the kind described in Section 3(c), such Holder will forthwith discontinue disposition
of such Registrable Securities under the Registration Statement until such Holder’s receipt of the copies of the supplemented
Prospectus and/or amended Registration Statement or until it is advised in writing by the Company that the use of the applicable
Prospectus may be resumed, and, in either case, has received copies of any additional or supplemental filings that are incorporated
or deemed to be incorporated by reference in such Prospectus or Registration Statement. The Company may provide appropriate stop
orders to enforce the provisions of this paragraph.

 

(e)          Piggy-Back
Registrations. If at any time during the Effectiveness Period there is not an effective Registration Statement covering all
of the Registrable Securities and the Company shall determine to prepare and file with the Commission a registration statement
relating to an offering for its own account or the account of others under the Securities Act of any of its equity securities,
other than on Form S-4 or Form S-8 (each as promulgated under the Securities Act) or their then equivalents relating to equity
securities to be issued solely in connection with any acquisition of any entity or business or equity securities issuable in connection
with stock option or other employee benefit plans, then the Company shall send to each Holder written notice of such determination
and, if within fifteen calendar days after receipt of such notice, any such Holder shall so request in writing, the Company shall
include in such registration statement all or any part of such Registrable Securities such holder requests to be registered, subject
to customary underwriter cutbacks applicable to all holders of registration rights.

 

(f)          Amendments
and Waivers. Provisions of this Agreement may be amended and the observance thereof may be waived (either generally or in
a particular instance and either retroactively or prospectively), only with the written consent of the Company and the Required
Holders. Any amendment or waiver effected in accordance with this Section 8(f) shall be binding upon the Investor and the Company.
No such amendment shall be effective to the extent that it applies to less than all of the Holders. No consideration shall be
offered or paid to any Person to amend or consent to a waiver or modification of any provision of this Agreement unless the same
consideration also is offered to all of the parties to this Agreement. Notwithstanding the foregoing, a waiver or consent to depart
from the provisions hereof with respect to a matter that relates exclusively to the rights of certain Holders and that does not
directly or indirectly affect the rights of other Holders may be given by Holders of at least a majority of the Registrable Securities
to which such waiver or consent relates.

 

(g)          Notices.
Any notices, consents, waivers or other communications required or permitted to be given under the terms of this Agreement must
be in writing and will be deemed to have been delivered if delivered in accordance with Section 7.3 of the Purchase Agreement.

 

(h)          Successors
and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and permitted assigns of each
of the parties and shall inure to the benefit of each Holder. The Company may not assign its rights or obligations hereunder without
the prior written consent of each Holder. Each Holder may assign their respective rights hereunder in the manner and to the Persons
as permitted under the Purchase Agreement.

 

    	15 

     

    

 

(i)          Execution
and Counterparts. This Agreement may be executed in any number of counterparts, each of which when so executed shall be deemed
to be an original and, all of which taken together shall constitute one and the same Agreement. In the event that any signature
is delivered by facsimile or email transmission, such signature shall create a valid binding obligation of the party executing
(or on whose behalf such signature is executed) the same with the same force and effect as if such facsimile or email signature
were the original thereof.

 

(j)          Mediation;
Arbitration; Governing Law. In the event of a dispute between any of the parties arising under or relating in any way whatsoever
to this Agreement, the disputing parties shall attempt to resolve it through good faith negotiation. If the dispute is not resolved
through such negotiation, then the disputing parties shall attempt to resolve it through mediation in the State of New York, USA,
with a neutral, third-party mediator mutually agreed upon by the disputing parties. Unless otherwise agreed by the disputing parties,
the costs of mediation shall be shared equally. If the dispute is not resolved through mediation, then upon written demand by
one of the disputing parties it shall be referred to a mutually agreeable arbitrator. The arbitration process shall be conducted
in accordance with the laws of the United States of America and the State of New York, except as modified herein. Venue for the
arbitration hearing shall be the State of New York, USA. All remedies, legal and equitable, available in court shall also be available
in arbitration. The arbitrator’s decision shall be final and binding, and judgment may be entered thereon in a court of
competent jurisdiction. This Agreement shall be interpreted and enforced in accordance with the laws of the United States of America
and the State of New York, without regard to conflict of law principles thereof. In any dispute arising out of or relating in
way whatsoever to this Agreement, including arbitration, the substantially prevailing party shall be entitled to recover its costs
and attorney fees from the other disputing parties.

 

(k)          Cumulative
Remedies. The remedies provided herein are cumulative and not exclusive of any remedies provided by law.

 

(l)          Entire
Agreement. This Agreement, the other Transaction Documents (as defined in the Purchase Agreement) and the instruments referenced
herein and therein constitute the entire agreement among the parties hereto with respect to the subject matter hereof and thereof.
There are no restrictions, promises, warranties or undertakings, other than those set forth or referred to herein and therein.
This Agreement, the other Transaction Documents and the instruments referenced herein and therein supersede all prior agreements
and understandings among the parties hereto with respect to the subject matter hereof and thereof.

 

(m)          Severability.
If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid,
illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain
in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their reasonable
efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such
term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that they would
have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter
declared invalid, illegal, void or unenforceable.

 

    	16 

     

    

 

(n)          Headings.
The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof.

 

(o)          Independent
Nature of Holders’ Obligations and Rights. The obligations of each Holder under this Agreement are several and not joint
with the obligations of each other Holder, and no Holder shall be responsible in any way for the performance of the obligations
of any other Holder under this Agreement. Nothing contained herein or in any Transaction Document, and no action taken by any
Holder pursuant thereto, shall be deemed to constitute the Holders as a partnership, an association, a joint venture or any other
kind of entity, or create a presumption that the Holders are in any way acting in concert or as a group with respect to such obligations
or the transactions contemplated by this Agreement or any other Transaction Document. Each Holder acknowledges that no other Holder
will be acting as agent of such Holder in enforcing its rights under this Agreement. Each Holder shall be entitled to independently
protect and enforce its rights, including without limitation the rights arising out of this Agreement, and it shall not be necessary
for any other Holder to be joined as an additional party in any Proceeding for such purpose. The Company acknowledges that each
of the Holders has been provided with the same Registration Rights Agreement for the purpose of closing a transaction with multiple
Holders and not because it was required or requested to do so by any Holder.

 

[Signature
Page Follows]

 

    	17 

     

    

 

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

 

	 	COMPANY:
	 	 
	 	FC GLOBAL REALTY INCORPORATED
	 	 
	 	By: 	/s/ Suneet Singal
	 	Name: Suneet Singal
	 	Title: Chief Executive Officer and President
	 	 
	 	INVESTOR:
	 	 
	 	OPPORTUNITY FUND I-SS, LLC
	 	 
	 	BY: OP FUND I MANAGER, LLC
	 	 
	 	By: 	/s/ Kristen Pigman
	 	Name: Kristen Pigman
	 	Title: Director

 

    	 

     

    

 

Annex
A

Plan
of Distribution

 

The
Selling Stockholders and any of their pledgees, donees, transferees, assignees and successors-in-interest may, from time to time,
sell any or all of their shares of common stock on any stock exchange, market or trading facility on which the shares are traded
or quoted or in private transactions. These sales may be at fixed or negotiated prices. The Selling Stockholders may use any one
or more of the following methods when selling shares:

 

		●	ordinary
                                         brokerage transactions and transactions in which the broker-dealer solicits Investors;

 

		●	block
                                         trades in which the broker-dealer will attempt to sell the shares as agent but may position
                                         and resell a portion of the block as principal to facilitate the transaction;

 

		●	purchases
                                         by a broker-dealer as principal and resale by the broker-dealer for its account;

 

		●	an
                                         exchange distribution in accordance with the rules of the applicable exchange;

 

		●	privately
                                         negotiated transactions;

 

		●	through
                                         the writing of options on the shares;

 

		●	to
                                         cover short sales made after the date that this Registration Statement is declared effective
                                         by the Commission;

 

		●	broker-dealers
                                         may agree with the Selling Stockholders to sell a specified number of such shares at
                                         a stipulated price per share;

 

		●	a
                                         combination of any such methods of sale; and

 

		●	any
                                         other method permitted by applicable law.

 

The
selling stockholders may also sell shares under Rule 144 of the Securities Act of 1933, as amended (the “Securities Act”),
if available, rather than under this prospectus. The selling stockholders shall have the sole and absolute discretion not to accept
any purchase offer or make any sale of shares if it deems the purchase price to be unsatisfactory at any particular time.

 

The
selling stockholders, alternatively, may sell all or any part of the shares offered in this prospectus through an underwriter.  The
selling stockholders have not entered into any agreement with a prospective underwriter and there is no assurance that any such
agreement will be entered into.

 

    	 

     

    

 

The
selling stockholders may, from time to time, pledge or grant a security interest in some or all of the shares of common stock
owned by them and, if they default in the performance of their secured obligations, the pledgees or secured parties may offer
and sell the shares of common stock, from time to time, under this prospectus, or under an amendment to this prospectus under
Rule 424(b)(3) or other applicable provision of the Securities Act amending the list of selling stockholders to include the pledgee,
transferee or other successors in interest as selling stockholders under this prospectus. The selling stockholders also may transfer
the shares of common stock in other circumstances, in which case the transferees, pledgees or other successors in interest will
be the selling beneficial owners for purposes of this prospectus.

 

The
selling stockholders or their respective pledgees, donees, transferees or other successors in interest, may also sell the shares
directly to market makers acting as principals and/or broker-dealers acting as agents for themselves or their customers. Such
broker-dealers may receive compensation in the form of discounts, concessions or commissions from the selling stockholders and/or
the purchasers of shares for whom such broker-dealers may act as agents or to whom they sell as principal or both in amounts to
be negotiated. Market makers and block purchasers purchasing the shares will do so for their own account and at their own risk.
It is possible that a selling stockholder will attempt to sell shares of common stock in block transactions to market makers or
other purchasers at a price per share which may be below the then existing market price. We cannot assure that all or any of the
shares offered in this prospectus will be issued to, or sold by, the selling stockholders. The selling stockholders and any brokers,
dealers or agents, upon effecting the sale of any of the shares offered in this prospectus, may be deemed to be “underwriters”
as that term is defined under the Securities Act, the Exchange Act and the rules and regulations of such acts. In such event,
any commissions received by such broker-dealers or agents and any profit on the resale of the shares purchased by them may be
deemed to be underwriting commissions or discounts under the Securities Act.

 

In
connection with the sale of our common stock, the selling stockholders may enter into hedging transactions with broker-dealers
or other financial institutions, which may in turn engage in short sales of the common stock in the course of hedging the positions
they assume. The selling stockholders may also sell shares of our common stock short and deliver these securities to close out
their short positions, or loan or pledge the common stock to broker-dealers that in turn may sell these securities. The selling
stockholders may also enter into option or other transactions with broker-dealers or other financial institutions or the creation
of one or more derivative securities which require the delivery to such broker-dealer or other financial institution of shares
offered by this prospectus, which shares such broker-dealer or other financial institution may resell pursuant to this prospectus
(as supplemented or amended to reflect such transaction).

 

The
selling stockholders and any other persons participating in the sale or distribution of the shares will be subject to applicable
provisions of the Exchange Act, and the rules and regulations under such act, including, without limitation, Regulation M. These
provisions may restrict certain activities of, and limit the timing of purchases and sales of any of the shares by, the selling
stockholders or any other such person. In the event that any of the selling stockholders are deemed an affiliated purchaser or
distribution participant within the meaning of Regulation M, then the selling stockholders will not be permitted to engage in
short sales of common stock. Furthermore, under Regulation M, persons engaged in a distribution of securities are prohibited from
simultaneously engaging in market making and certain other activities with respect to such securities for a specified period of
time prior to the commencement of such distributions, subject to specified exceptions or exemptions. In addition, if a short sale
is deemed to be a stabilizing activity, then the selling stockholders will not be permitted to engage in a short sale of our common
stock. All of these limitations may affect the marketability of the shares.

 

    	 

     

    

 

If
a selling stockholder notifies us that it has a material arrangement with a broker-dealer for the resale of the common stock,
then we would be required to amend the registration statement of which this prospectus is a part, and file a prospectus supplement
to describe the agreements between the selling stockholder and the broker-dealer.

 

The
aggregate proceeds to the selling stockholders from the sale of the common stock offered by them will be the purchase price of
the common stock less discounts or commissions, if any. Each of the selling stockholders reserves the right to accept and, together
with their agents from time to time, to reject, in whole or in part, any proposed purchase of common stock to be made directly
or through agents. We will not receive any of the proceeds from this offering.

 

We
are required to pay all fees and expenses incident to the registration of the shares, including fees and disbursements of counsel
to the selling stockholders, but excluding brokerage commissions or underwriter discounts.

 

We
have agreed to indemnify the selling stockholders against liabilities, including liabilities under the Securities Act and state
securities laws, relating to the registration of the shares offered by this prospectus. 

 

In
order to comply with the securities laws of some states, if applicable, the common stock may be sold in these jurisdictions only
through registered or licensed brokers or dealers. In addition, in some states the common stock may not be sold unless it has
been registered or qualified for sale or an exemption from registration or qualification requirements is available and is complied
with.

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