Document:

Exhibit

Exhibit 10.1
THIRD AMENDMENT TO LEASE

I.    PARTIES AND DATE.

This Third Amendment to Lease (“Amendment”) dated June 28, 2019, is by and between THE IRVINE COMPANY LLC a Delaware limited liability company (“Landlord”), and AXONICS MODULATION TECHNOLOGIES, INC., a Delaware corporation (“Tenant”).

II.    RECITALS.

On November 30, 2017, Landlord and Tenant entered into a lease, for space in a building located at 26 Technology Drive, Suite 15, Irvine, California (“26 Technology Premises”), which lease was amended by a First Amendment to Lease dated April 12, 2018, and by a Second Amendment to Lease dated July 11, 2018.  The foregoing lease, as so amended, is herein referred to as the “Lease”.

Landlord and Tenant each desire to modify the Lease to add approximately 32,621 rentable square feet of space in a building located at 15326 Alton Parkway (“15326 Alton Building”), Irvine, California, which is more particularly described on Exhibit A-1 attached to this Amendment and herein referred to as the “15326 Alton Premises”, to extend the Lease Term as to the original Premises, to adjust the Basic Rent and to make such other modifications as are set forth in "III. MODIFICATIONS" next below.

III.    MODIFICATIONS.

		
	A.
	Premises/Building.  From and after the “Commencement Date for the 15326 Alton Expansion Space”, the 26 Technology Premises together with the 15326 Alton Premises shall collectively constitute the “Premises” under the Lease, and all references to the “Building” in the Lease shall be amended to refer to the 26 Technology Building and the 15326 Alton Building, individually or collectively as the context may reasonably require.

		
	B.
	Basic Lease Provisions.  The Basic Lease Provisions are hereby amended as follows:

		
	1.
	Effective as of the Commencement Date for the 15326 Alton Premises, Item 2 shall be deleted in its entirety and substituted therefor shall be the following:

“1.    Premises:  The Premises are more particularly described in Section 2.1.

Address of Buildings:    26 Technology Drive, Suite 100, Irvine, CA 92618
15326 Alton Parkway, Irvine, CA 92618

		
	2.
	Item 4 is hereby amended by adding the following:

“Estimated Commencement Date for the 15326 Alton Premises:  November 1, 2019”

		
	3.
	Item 5 is hereby deleted in its entirety and the following substituted in lieu thereof:

“5.   Lease Term: The term of this Lease shall expire 96 months from and after the Commencement Date for the 15326 Alton Premises, plus such additional days as may be required to cause this Lease to expire on the final day of the calendar month (“Expiration Date”).”

		
	4.
	Effective as of the Commencement Date for the 15326 Alton Premises, Item 6 shall be amended by adding the following for the 15326 Alton Premises:

	
			
	Months of Term 
or Period for 15326 Alton Premises
	Monthly Rate Per Rentable Square Foot for 15326 Alton Premises
	Monthly Basic Rent for 15326 Alton Premises (rounded to the nearest dollar)

	1 to 12
	$2.00
	$65,242.00

	13 to 24
	$2.10
	$68,504.00

	25 to 36
	$2.20
	$71,766.00

	37 to 48
	$2.30
	$75,028.00

	49 to 60
	$2.40
	$78,290.00

	61 to 72
	$2.50
	$81,553.00

	73 to 84
	$2.60
	$84,815.00

	85 to 96
	$2.70
	$88,077.00

Notwithstanding the above schedule of Basic Rent to the contrary, as long as Tenant is not in Default (as defined in Section 14.1) under this Lease, Tenant shall be entitled to an abatement of one-half of the Basic Rent due in the aggregate amount of $521,936.00 (i.e. $32,621.00 per month) (the “Abated Basic Rent”) for the first 8 full calendar months of the Term  for the 15326 Alton Premises(the “Abatement Period”). In the event Tenant Defaults at any time during the Term, all Abated Basic Rent shall immediately become due and payable.  The payment by Tenant of the Abated Basic Rent in the event of a Default shall not limit or affect any of Landlord's other rights, pursuant to this Lease or at law or in equity. Only Basic Rent shall be abated during the Abatement Period and all other additional rent and other costs and charges specified in this Lease shall remain as due and payable pursuant to the provisions of this Lease.

Item 6 is hereby amended by adding the following Basic Rent schedule for the 26 Technology Premises:

	
			
	Months of Term 
or Period for 26 Technology Premises
	Monthly Rate Per Rentable Square Foot for 26 Technology Premises
	Monthly Basic Rent for 26 Technology Premises (rounded to the nearest dollar)

	9/1/25 to 8/31/26
	$2.94
	$75,111.00

	9/1/26 to 8/31/27
	$3.07
	$78,432.00

	9/1/27 to Expiration Date
	$3.21
	$82,009.00

		
	5.
	Effective as of the Commencement Date for the 15326 Alton Premises, Item 8 shall be deleted in its entirety and substituted therefor shall be the following:

“8.  Floor Area of Premises:  Approximately 58,169 rentable square feet comprised of the following:

26 Technology Premises - approximately 25,548 rentable square feet
15326 Alton Premises - approximately 32,621 rentable square feet”

		
	6.
	Item 9 is hereby deleted in its entirety and the following substituted in lieu thereof:

“9.   Security Deposit: $853,969.00”

		
	7.
	Effective as of the Commencement Date for the 15326 Alton Premises, Item 11 shall be deleted in its entirety and the following shall be substituted in lieu thereof:

“11.   Parking: 232 unreserved vehicle parking passes in accordance with the provisions set forth in Exhibit F to this Lease.”

		
	C.
	Commencement Date for the 15326 Alton Premises.  As used herein, the “Commencement Date for the 15326 Alton Premises” shall occur on the earlier of (a) the date the 15326 Alton Premises is deemed ready for occupancy as set forth below, or (b) the date Tenant commences its business activities within the 15326 Alton Premises.  Promptly following request by Landlord, the parties shall memorialize on a form provided by Landlord (the “15326 Alton Premises Commencement Memorandum”) the actual Commencement Date for the 15326 Alton Premises; should Tenant fail to execute and return the the 15326 Alton Premises Commencement Memorandum to Landlord within 5 business days (or provide specific written objections thereto within that period), then Landlord’s determination of the Commencement Date for the 15326 Alton Premises as set forth in the 15326 Alton Premises shall be conclusive.  The 15326 Alton Premises shall be deemed “ready for occupancy” if and when Landlord, to the extent applicable, (i) has substantially completed all the work required to be completed by Landlord pursuant to the Work Letter attached to this Amendment as Exhibit X-2 but for minor punch list matters, and has obtained the requisite governmental approvals for Tenant’s occupancy in connection with such work, (ii) has provided reasonable access to the 15326 Alton Premises for Tenant so that the 15326 Alton Premises may be used without unreasonable interference, and (iii) has put into operation all building services required to be provided by Landlord under the Lease and essential for the use the 15326 Alton Premises by Tenant.

		
	D.
	Delay in Possession.  If Landlord, for any reason whatsoever, cannot deliver possession of the 15326 Alton Premises to Tenant on or before the Estimated Commencement Date for the 15326 Alton Premises set forth in Section III.B.2 above, this Amendment shall not be void or voidable nor shall Landlord be liable to Tenant for any resulting loss or damage.  However, Tenant shall not be liable for any rent for the 15326 Alton Premises until the Commencement Date for the 15326 Alton Premises occurs as provided in Section III.C above, except that if Landlord’s failure to substantially complete all work required of Landlord pursuant to Section III.C(i) above is attributable to any action or inaction by Tenant (including without limitation any Tenant Delay described in the Work Letter, if any, attached to this Amendment), then the 15326 Alton Premises shall be deemed ready for occupancy, and Landlord shall be entitled to full performance by Tenant (including the payment of rent), as of the date Landlord would have been able to substantially complete such work and deliver the 15326 Alton Premises to Tenant but for Tenant’s delay(s).  

		
	E.
	Security Deposit.  Concurrently with Tenant’s delivery of this Amendment, Tenant shall deliver the sum of $630,000.00 to Landlord, which sum shall be added to the Security Deposit presently being held by Landlord in accordance with Section 4.3 of the Lease.  The second paragraph of Section 4.3 of the Lease is hereby deleted in its entirety and the following substituted therefor:  

“Upon delivery to Landlord of reasonably satisfactory evidence of Tenant’s receipt of the final approval from the U.S. Food and Drug Administration of Tenant’s r-SNM system, Landlord shall return to Tenant a portion of the Security Deposit in the form of credits against the Basic Rent next coming due in the amount of $250,000.00.  In addition, provided that no uncured “Default” has occurred at any time during the Term hereof, and provided further that Tenant has not at any time been more than 5 days late more than once with respect to any payments of Basic Rent and Operating Expenses due under the Lease during the immediately preceding 12-month period, and upon delivery of reasonably satisfactory evidence that Tenant has achieved a positive net income over the immediately preceding 12-month period, then upon the written request of Tenant, Landlord shall return to Tenant a portion of the Security Deposit in the form of credits against the Basic Rent in the amount of  $125,000.00 against the Basic Rent installments due and payable on the first day of the 37th, 49th, and 61st months of the Term.”

		
	F.
	Right to Extend This Lease.  Section 2 of Exhibit G to the Lease entitled “Right to Extend This Lease” shall remain in full force and effect during the extension period ending October 31, 2027 and shall apply to Tenant’s leasing of the 15326 Alton Premises pursuant to this Amendment, except that the reference in the second sentence of the first paragraph thereof to “9 months” is hereby amended to 

“12 months”, and the reference to “12 months” in the second sentence of the first paragraph is hereby amended to “15 months.  Tenant shall have the right to exercise its right to extend the Lease as to either the 26 Technology Premises, or the 15326 Alton Premises, or both, at its option.

		
	G.
	Signage.  Effective as of the Commencement Date for the 15326 Alton Premises, and provided Tenant continues to occupy the entire 15326 Alton Premises, Tenant shall have the exclusive right to one (1) building top sign on the 15326 Alton Building for Tenant’s name and graphics in a location designated by Landlord, subject to Landlord's right of prior approval that such exterior signage is in compliance with the requirements of Section 5.2 of the Lease.  All terms of said Section 5.2 shall apply to the building top signage for the 15326 Alton Building.

		
	H.
	Floor Plan of Premises.  Effective as of the Commencement Date for the 15326 Alton Premises, Exhibit A-1 attached to this Amendment shall be added to Exhibit A of the Lease.

		
	I.
	Tenant Improvements for 26 Technology Premises.   Tenant acknowledges that the lease of the 26 Technology Premises pursuant to this Amendment shall be on an “as-is” basis without further obligation on Landlord’s part as to improvements whatsoever, except that Landlord hereby agrees to complete the Tenant Improvements in accordance with the provisions of Exhibit X-1, Work Letter, attached hereto.

		
	J.
	Tenant Improvements for 15326 Alton Premises.   Subject to Sections III.K and III.L below, Tenant acknowledges that the lease of the 15326 Technology Premises pursuant to this Amendment shall be on an “as-is” basis without further obligation on Landlord’s part as to improvements whatsoever, except that Landlord hereby agrees to complete the Tenant Improvements in accordance with the provisions of Exhibit X-2, Work Letter, attached hereto.

		
	K.
	Good Working Order Warranty. Landlord warrants to Tenant that the fire sprinkler system, lighting, heating, ventilation and air conditioning systems and electrical systems serving the Premises shall be in good operating condition as of the day the Premises are delivered to Tenant.  Provided that Tenant shall notify Landlord of a non-compliance with the foregoing warranty not later than 60 days following the day the Premises are delivered to Tenant, then Landlord shall, except as otherwise provided in this Lease, promptly after receipt of written notice from Tenant setting forth the nature and extent of such non-compliance, rectify same at Landlord’s sole cost and expense (and not as a Project Cost).

		
	L.
	ADA Compliance.  Landlord shall correct, repair and/or replace any existing non-compliance of the 15326 Alton Building with the provisions of Title III of the Americans With Disabilities Act (“ADA”). Said costs of compliance shall be Landlord’s sole cost and expense and shall not be part of Project Costs.  Landlord shall correct, repair or replace any non-compliance of the 15326 Alton Building and the Common Areas with any revisions or amendments to applicable building codes, including the ADA, becoming effective after the execution of this Amendment, provided that the amortized cost of such repairs or replacements (amortized over the useful life thereof) shall be included as Project Costs payable by Tenant.  All other ADA compliance issues which pertain to the 15326 Alton Premises, including without limitation, in connection with Tenant’s construction of any Alterations or other improvements (other than the initial Tenant Improvements) in the 15326 Alton Premises (and any resulting ADA compliance requirements in the Common Areas if Landlord shall consent to same as more particularly provided in Section 7.3 of the Lease) and the operation of Tenant’s business and employment practices in the 15326 Alton Premises, shall be the responsibility of Tenant at its sole cost and expense.  The repairs, corrections or replacements required of Landlord or of Tenant under the foregoing provisions of this Section III.K shall be made promptly following notice of non-compliance from any applicable governmental agency.

		
	M.
	SDN List.  Tenant hereby represents and warrants that neither Tenant nor any officer, director, employee, partner, member or other principal of Tenant (collectively, "Tenant Parties") is listed as a Specially Designated National and Blocked Person ("SDN") on the list of such persons and entities issued by the U.S. Treasury Office of Foreign Assets Control (OFAC).  In the event Tenant or any Tenant Party is or becomes listed as an SDN, Tenant shall be deemed in breach of this Lease and Landlord shall have the right to terminate the Lease immediately upon written notice to Tenant.

IV.    GENERAL.

		
	A.
	Effect of Amendments.  The Lease shall remain in full force and effect except to the extent that it is modified by this Amendment.

		
	B.
	Entire Agreement.  This Amendment embodies the entire understanding between Landlord and Tenant with respect to the modifications set forth in “III. MODIFICATIONS” above and can be changed only by a writing signed by Landlord and Tenant.

		
	C.
	Counterparts; Digital Signatures.  If this Amendment is executed in counterparts, each is hereby declared to be an original; all, however, shall constitute but one and the same amendment.  In any action or proceeding, any photographic, photostatic, or other copy of this Amendment may be introduced into evidence without foundation. The parties agree to accept a digital image (including but not limited to an image in the form of a PDF, JPEG, GIF file, or other e-signature) of this Amendment, if applicable, reflecting the execution of one or both of the parties, as a true and correct original.

		
	D.
	Defined Terms.  All words commencing with initial capital letters in this Amendment and defined in the Lease shall have the same meaning in this Amendment as in the Lease, unless they are otherwise defined in this Amendment.

		
	E.
	Authority.  If Tenant is a corporation, limited liability company or partnership, or is comprised of any of them, each individual executing this Amendment for the corporation, limited liability company or partnership represents that he or she is duly authorized to execute and deliver this Amendment on behalf of such entity and that this Amendment is binding upon such entity in accordance with its terms.

		
	F.
	California Certified Access Specialist Inspection.  Pursuant to California Civil Code § 1938, Landlord hereby states that the Premises have not undergone inspection by a Certified Access Specialist (CASp) (defined in California Civil Code § 55.52(a)(3)).  Pursuant to Section 1938 of the California Civil Code, Landlord hereby provides the following notification to Tenant: "A Certified Access Specialist (CASp) can inspect the subject premises and determine whether the subject premises comply with all of the applicable construction-related accessibility standards under state law.  Although state law does not require a CASp inspection of the subject premises, the commercial property owner or lessor may not prohibit the lessee or tenant from obtaining a CASp inspection of the subject premises for the occupancy or potential occupancy of the lessee or tenant, if requested by the lessee or tenant.  The parties shall mutually agree on the arrangements for the time and manner of the CASp inspection, the payment of the fee for the CASp inspection, and the cost of making any repairs necessary to correct violations of construction related accessibility standards within the premises."  If Tenant requests to perform a CASp inspection of the Premises, Tenant shall, at its cost, retain a CASp approved by Landlord (provided that Landlord may designate the CASp, at Landlord’s option) to perform the inspection of the Premises at a time agreed upon by the parties.  Tenant shall provide Landlord with a copy of any report or certificate issued by the CASp (the "CASp Report") and Tenant shall, at its cost, promptly complete any modifications necessary to correct violations of construction related accessibility standards identified in the CASp Report, notwithstanding anything to the contrary in this Lease.  Tenant agrees to keep the information in the CASp Report confidential except as necessary for the Tenant to complete such modifications.

		
	G.
	Attorneys’ Fees.  The provisions of the Lease respecting payment of attorneys’ fees shall also apply to this Amendment.

		
	H.
	Nondisclosure of Lease Terms.  Tenant acknowledges that the content of this Amendment and any related documents are confidential information.  Except to the extent disclosure is required by law, Tenant shall keep such confidential information strictly confidential and shall not disclose such confidential information to any person or entity other than Tenant’s financial, legal and space-planning consultants, provided, however, that Tenant may disclose the terms to prospective subtenants or assignees under the Lease or pursuant to legal requirement.

		
	I.
	Brokers.  Article 18 of the Lease is amended to provide that the parties recognize the following parties as the brokers who negotiated this Amendment, and agree that Landlord shall be responsible for payment of brokerage commissions to such brokers pursuant to its separate agreements with such 

brokers: Irvine Management Company (“Landlord’s Broker”) is the agent of Landlord exclusively and Hughes Marino, Inc. / San Diego (“Tenant’s Broker”) is the agent of Tenant exclusively.  By the execution of this Amendment, each of Landlord and Tenant hereby acknowledge and confirm (a) receipt of a copy of a Disclosure Regarding Real Estate Agency Relationship conforming to the requirements of California Civil Code 2079.16, and (b) the agency relationships specified herein, which acknowledgement and confirmation is expressly made for the benefit of Tenant’s Broker.  If there is no Tenant’s Broker so identified herein, then such acknowledgement and confirmation is expressly made for the benefit of Landlord’s Broker.  By the execution of this Amendment, Landlord and Tenant are executing the confirmation of the agency relationships set forth herein. The warranty and indemnity provisions of Article 18 of the Lease, as amended hereby, shall be binding and enforceable in connection with the negotiation of this Amendment.

V.    EXECUTION. 

Landlord and Tenant executed this Amendment on the date as set forth in “I. PARTIES AND DATE.” above.

	
			
	LANDLORD:
	TENANT:

	 
	 
	 

	THE IRVINE COMPANY LLC,
	AXONICS MODULATION TECHNOLOGIES, INC.,

	a Delaware limited liability company
	a Delaware corporation

	 
	 
	 

	 
	 
	 

	 
	 
	 

	By /s/ Steven M. Case
	By /s/ Dan L. Dearen

	Steven M. Case
	 
	 

	Executive Vice President
	Printed Name
	Dan Dearen

	 
	Title
	President & CFO

	 
	 
	 

	 
	 
	 

	 
	 
	 

	By /s/ Holly McManus
	By /s/ Raymond W. Cohen

	Holly McManus
	 
	 

	Vice President, Operations
	Printed Name
	Raymond W. Cohen

	 
	Title
	CEO

EXHIBIT A

DESCRIPTION OF 15326 ALTON PREMISES

15326 Alton Parkway
Suite 100 & 200 

EXHIBIT X-1

WORK LETTER

DOLLAR ALLOWANCE

The tenant improvement work to be contracted for by Landlord hereunder ("Tenant Improvement Work") shall consist of the design and construction of all tenant improvements ("Tenant Improvements”), including work in place as of the date hereof, required for the 26 Technology Premises pursuant to the approved final Working Drawings and Specifications (as hereinafter defined).  All of the Tenant Improvement Work shall be performed by a contractor selected by Landlord in a good and workmanlike manner and in accordance with the procedures and requirements set forth below.

I.    ARCHITECTURAL AND CONSTRUCTION PROCEDURES.
		
	A.
	Tenant and Landlord have approved, or shall approve within the time period set forth below, both (i) a detailed space plan for the 26 Technology Premises, prepared by Landlord's architect, which includes interior partitions, ceilings, interior finishes, interior doors, suite entrance, floor coverings, window coverings, lighting, electrical and telephone outlets, plumbing connections, heavy floor loads and other special requirements of Tenant ("Preliminary Plan"), and (ii) an estimate of the cost to complete the Tenant Improvements in accordance with the Preliminary Plan ("Preliminary Cost Estimate"), which Preliminary Cost Estimate will be based upon estimated costs provided by Landlord’s contractor.  To the extent applicable, the Preliminary Plan shall include Landlord's building standard tenant improvements, materials and specifications for the Project as set forth in Schedule I attached hereto ("Building Standard Improvements"), except for changes and additions specifically requested by Tenant and approved by Landlord in writing (any such addition or variation from the Standard Improvements shall be referred to herein as a ("Non-Standard Improvement").  All Tenant requests for Non-Standard Improvements must be in writing and shall provide sufficient specifications and details for Landlord to reasonably evaluate impacts upon the Preliminary Plan and Preliminary Cost Estimate.  Tenant shall approve or provide suggested revisions to the Preliminary Plan and the Preliminary Cost Estimate by signing copies of each or specifying in reasonable detail any suggested revisions thereto as hereinabove provided, and delivering each to Landlord within 5 business days of receipt thereof by Tenant.  Landlord shall attempt in good faith to modify the Preliminary Plan and the Preliminary Cost Estimate to incorporate Tenant's suggested revisions in a mutually satisfactory manner. 

		
	B.
	Promptly following request by Landlord or Landlord’s architect, Tenant shall provide in writing to Landlord or Landlord's architect all specifications and information requested by Landlord for the preparation of final construction documents and costing, including without limitation Tenant's final selection of paint and floor finishes, complete specifications and locations (including electrical, load and HVAC requirements) of Tenant's equipment, and details of all Non-Standard Improvements (as defined above) which have been approved by Landlord as part of the Preliminary Plan (collectively, "Programming Information").  Tenant understands that final construction documents for the Tenant Improvements shall be predicated on the Programming Information, and accordingly that such information must be accurate and complete and that any defects or problems due to incomplete or inaccurate Programming Information shall be the responsibility of the Tenant and that the Landlord shall have no obligation or liability for such defects or problems arising from any incomplete or inaccurate Programming Information.   Any delays in the completion of the Tenant Improvements due to incomplete or inaccurate Programming Information shall constitute a Tenant Delay.

		
	C.
	Upon Tenant's approval of the Preliminary Plan and Preliminary Cost Estimate and delivery of the complete Programming Information, Landlord's architect and engineers shall prepare and deliver to Tenant working drawings and specifications ("Working Drawings and Specifications"), and Landlord's contractor shall prepare a final construction cost estimate ("Final Cost Estimate") for the Tenant Improvements in conformity with the Working Drawings and Specifications.  Tenant shall have 5 business days from the receipt thereof to approve or disapprove the Working Drawings and Specifications and the Final Cost Estimate.  Tenant shall not unreasonably withhold or delay its approval, and any disapproval or requested modification shall be limited to items not consistent with 

the approved Preliminary Plan or Preliminary Cost Estimate.  Should Tenant disapprove the Working Drawings and Specifications or the Final Cost Estimate, such disapproval shall be accompanied by specific reasons for disapproval and a detailed list of requested revisions.  Any revision requested by Tenant and accepted by Landlord, shall be incorporated into a revised set of Working Drawings and Specifications and the Final Cost Estimate, and Tenant shall approve same in writing within 5 business days of receipt without further revision.  
		
	D.
	In the event that Tenant requests in writing a revision to the Working Drawings and Specifications ("Change"), and Landlord so approves such Change as provided in the Section next below, Landlord shall advise Tenant by written change order as soon as is practical of any increase in the Completion Cost such Change would cause.  Tenant shall approve or disapprove such change order, if any, in writing within 2 business days following Tenant's receipt of such change order.  If Tenant approves any such change order, Landlord, at its election, may either (i) require as a condition to the effectiveness of such change order that Tenant pay the increase in the Completion Cost attributable to such change order concurrently with delivery of Tenant’s approval of the change order, or (ii) defer Tenant’s payment of such increase until the date 10 business days after delivery of invoices for same.  If Tenant disapproves any such change order, Tenant shall nonetheless be responsible for the reasonable architectural and/or planning fees incurred in preparing such change order.  Landlord shall have no obligation to interrupt or modify the Tenant Improvement Work pending Tenant's approval of a change order, but if Tenant fails to timely approve a change order, Landlord may (but shall not be required to) suspend the applicable Tenant Improvement Work, in which event any related critical path delays because of such suspension shall constitute Tenant Delays hereunder.

		
	E.
	Landlord agrees that it shall not unreasonably withhold its consent to Tenant's requested Changes, provided that such consent may be withheld in all events if the requested Change (i) is of a lesser quality than the Tenant Improvements previously approved by Landlord, (ii) fails to conform to applicable governmental requirements, (iii) would result in the 26 Technology Premises requiring building services beyond the level Landlord has agreed to provide Tenant under the Lease, (iv) would delay construction of the Tenant Improvements and Tenant declines to accept such delay in writing as a Tenant Delay, (v) interferes in any manner with the proper functioning of, or Landlord’s access to, any mechanical, electrical, plumbing or HVAC systems, facilities or equipment in or serving the Building,  or (vi) would have an adverse aesthetic impact to the 26 Technology Premises or would cause additional expenses to Landlord in reletting the 26 Technology Premises.  

		
	F.
	Notwithstanding any provision in the Lease to the contrary, and not by way of limitation of any other rights or remedies of Landlord, if Tenant fails to comply with any of the time periods specified in this Work Letter, fails otherwise to approve or reasonably disapprove any submittal within the time period specified herein for such response (or if no time period is so specified, within 5 business days following Tenant's receipt thereof, fails to approve in writing the Working Drawings and Specifications or the Final Cost Estimate within the time provided herein, fails to timely deliver the Tenant’s Contribution as required hereunder, requests any Changes, furnishes inaccurate or erroneous Programming Information, specifications or other information, or otherwise delays in any manner the completion of the Tenant Improvements (including without limitation by specifying materials that are not readily available) or the issuance of an occupancy certificate (any of the foregoing being referred to in this Lease as a "Tenant Delay"), then Tenant shall bear any resulting additional construction cost or other expenses.

		
	G.
	All of the Tenant Improvements shall become the property of Landlord and shall be surrendered with the 26 Technology Premises at the expiration or sooner termination of this Lease, except that Landlord shall have the right, by notice to Tenant given at the time of Landlord's approval of the Preliminary Plan, the Working Drawings and Specifications and any Change, to require Tenant either to remove all or any of the Tenant Improvements approved in the Preliminary Plan or in the Working Drawings and Specifications or by way of such Change, to repair any damage to the 26 Technology Premises or the Common Areas arising from such removal, and to replace any Non-Standard Improvements so approved with the applicable Standard Improvement, or to reimburse Landlord for the reasonable cost of such removal, repair and replacement upon demand.  Any such removals, repairs and replacements by Tenant shall be completed by the Expiration Date or sooner termination of this Lease.

		
	H.
	It is understood that all or a portion of the Tenant Improvements may be done during Tenant’s occupancy of the 26 Technology Premises.  In this regard, Tenant agrees to assume any risk of injury, loss or damage to Tenant to the extent not the result of Landlord’s negligence or willful misconduct.  While Landlord agrees to employ construction practices reasonably intended to minimize disruptions to the operation of Tenant’s business in the 26 Technology Premises, Tenant acknowledges and agrees that some disruptions may occur during the course of construction of the Tenant Improvements, and in no event shall rent abate as the result of the construction of the Tenant Improvements.  Tenant shall pay for and cause Tenant’s furniture and other equipment to be moved as necessary (including disconnecting and reconnecting computers and telecommunications cabling equipment) so as to facilitate the Tenant Improvement Work.

		
	I.
	Tenant hereby designates Dan Dearen (“Tenant’s Construction Representative”), Telephone No. (858) 775-9218, Email: ddearen@axonicsmodulation.com, as its representative, agent and attorney-in-fact for all matters related to the Tenant Improvement Work, including but not by way of limitation, for purposes of receiving notices, approving submittals and issuing requests for Changes, and Landlord shall be entitled to rely upon authorizations and directives of such person(s) as if given directly by Tenant.  The foregoing authorization is intended to provide assurance to Landlord that it may rely upon the directives and decision making of the Tenant’s Construction Representative with respect to the Tenant Improvement Work and is not  intended to limit or reduce Landlord’s right to reasonably rely upon any decisions or directives given by other officers or representatives of Tenant.   Any notices or submittals to, or requests of, Tenant related to this Work Letter and/or the Tenant Improvement Work may be sent to Tenant’s Construction Representative at the email address above provided.  Tenant may amend the designation of its Tenant’s Construction Representative(s) at any time upon delivery of written notice to Landlord.

II.    COST OF TENANT IMPROVEMENTS
		
	A.
	Landlord shall complete, or cause to be completed, the Tenant Improvements, at the construction cost shown in the Final Cost Estimate (subject to increases for Landlord approved Changes and as otherwise provided in this Work Letter), in accordance with final Working Drawings and Specifications approved by both Landlord and Tenant.  

		
	B.
	Landlord shall pay up to $204,384.00, based on $8.00 per usable square foot of the Premises ("Landlord's Maximum Contribution"), of the final “Completion Cost” (as defined below).  Tenant acknowledges that the Landlord's Maximum Contribution is intended only as the maximum amount Landlord will pay toward approved Tenant Improvements, and not by way of limitation, any partitions, modular office stations, fixtures, cabling, furniture and equipment requested by Tenant are in no event subject to payment as part of Landlord’s Contribution.  In the event the Completion Cost of the Tenant Improvement Work is less than the Landlord’s Maximum Contribution, Landlord’s actual contribution toward the Completion Cost ("Landlord's Contribution") shall equal such lesser amount, and, except as provided hereinbelow, Tenant shall have no right to receive any credit, refund or allowance of any kind for any unused portion of the Landlord's Maximum Contribution nor shall Tenant be allowed to make revisions to an approved Preliminary Plan, Working Drawings and Specifications or request a Change in an effort to apply any unused portion of Landlord's Maximum Contribution.  Notwithstanding the foregoing, Tenant may utilize all or any portion of the Landlord’s Contribution towards the costs of the tenant improvements for the 15326 Alton Premises.  It is understood and agreed that the Landlord’s Contribution shall be used no later than March 31, 2020, and that Landlord shall not be obligated to fund any portion of the Landlord’s Contribution requested after such date.

		
	C.
	Tenant shall pay any costs due to inaccurate or incomplete Programming Information and the amount, if any, by which aggregate Completion Cost for the Tenant Improvement Work exceeds the Landlord’s Maximum Contribution.  The amounts to be paid by Tenant for the Tenant Improvements pursuant to this Section II.C are sometimes cumulatively referred to herein as the “Tenant’s Contribution”.

		
	D.
	The “Completion Cost” shall mean all costs of Landlord in completing the Tenant Improvements in accordance with the approved Working Drawings and Specifications and with any approved Changes thereto, including but not limited to the following costs:  (i) payments made to architects, engineers, contractors, subcontractors and other third party consultants in the performance of the work, (ii) permit fees and other sums paid to governmental agencies, and (iii) costs of all materials incorporated into 

the work or used in connection with the work.  The Completion Cost shall also include a construction management fee to be paid to Landlord or to Landlord's management agent in the amount of three percent (3%) of the Completion Cost.  Unless expressly authorized in writing by Landlord, the Completion Cost shall not include (and no portion of the Landlord’s Contribution shall be paid for) any costs incurred by Tenant, including without limitation, any costs for space planners, managers, advisors or consultants retained by Tenant in connection with the Tenant Improvements.

		
	E.
	Prior to start of construction of the Tenant Improvements, Tenant shall pay to Landlord in full the amount of the Tenant's Contribution set forth in the approved Preliminary Cost Estimate or in the Final Cost Estimate (once approved by Tenant).  If the actual Completion Cost of the Tenant Improvements is greater than the Final Cost Estimate because of Changes, modifications or extras not reflected on the approved Working Drawings and Specifications, or because of Tenant Delays, then Tenant shall pay all such additional costs within 10 business days after written demand for same.  If Tenant defaults in the payment of any sums due under this Work Letter, Landlord shall (in addition to all other remedies) have the same rights as in the case of Tenant's failure to pay rent under the Lease, including, without limitation, the right to terminate this Lease and recover damages from Tenant and/or to charge a late payment fee and to collect interest on delinquent payments, and Landlord may (but shall not be required to) suspend the Tenant Improvement Work following such default, in which event any delays because of such suspension shall constitute Tenant Delays hereunder.

EXHIBIT X-2

WORK LETTER

DOLLAR ALLOWANCE

The tenant improvement work to be contracted for by Landlord hereunder ("Tenant Improvement Work") shall consist of the design and construction of all tenant improvements ("Tenant Improvements”), including work in place as of the date hereof, required for the 15326 Alton Premises pursuant to the approved final Working Drawings and Specifications (as hereinafter defined).  All of the Tenant Improvement Work shall be performed by a contractor selected by Landlord in a good and workmanlike manner and in accordance with the procedures and requirements set forth below.

I.    ARCHITECTURAL AND CONSTRUCTION PROCEDURES.
		
	A.
	Tenant and Landlord have approved, or shall approve within the time period set forth below, both (i) a detailed space plan for the 15326 Alton Premises, prepared by Landlord's architect, which includes interior partitions, ceilings, interior finishes, interior doors, suite entrance, floor coverings, window coverings, lighting, electrical and telephone outlets, plumbing connections, heavy floor loads and other special requirements of Tenant ("Preliminary Plan"), and (ii) an estimate of the cost to complete the Tenant Improvements in accordance with the Preliminary Plan ("Preliminary Cost Estimate"), which Preliminary Cost Estimate will be based upon estimated costs provided by Landlord’s contractor.  To the extent applicable, the Preliminary Plan shall include Landlord's building standard tenant improvements, materials and specifications for the Project as set forth in Schedule I attached hereto ("Building Standard Improvements"), except for changes and additions specifically requested by Tenant and approved by Landlord in writing (any such addition or variation from the Standard Improvements shall be referred to herein as a ("Non-Standard Improvement").  All Tenant requests for Non-Standard Improvements must be in writing and shall provide sufficient specifications and details for Landlord to reasonably evaluate impacts upon the Preliminary Plan and Preliminary Cost Estimate.  Tenant shall approve or provide suggested revisions to the Preliminary Plan and the Preliminary Cost Estimate by signing copies of each or specifying in reasonable detail any suggested revisions thereto as hereinabove provided, and delivering each to Landlord within 5 business days of receipt thereof by Tenant.  Landlord shall attempt in good faith to modify the Preliminary Plan and the Preliminary Cost Estimate to incorporate Tenant's suggested revisions in a mutually satisfactory manner.  In all events, Tenant shall approve in all respects a Preliminary Plan and a Preliminary Cost Estimate (as either may have been modified as herein provided to incorporate Tenant’s suggested revisions) not later than June 30, 2019 ("Plan Approval Date"), it being understood that Tenant's failure to do so shall constitute a “Tenant Delay” (as defined below).

		
	B.
	On or before the Plan Approval Date, Tenant shall provide in writing to Landlord or Landlord's architect all specifications and information requested by Landlord for the preparation of final construction documents and costing, including without limitation Tenant's final selection of paint and floor finishes, complete specifications and locations (including electrical, load and HVAC requirements) of Tenant's equipment, and details of all Non-Standard Improvements (as defined above) which have been approved by Landlord as part of the Preliminary Plan (collectively, "Programming Information").  Tenant's failure to provide the Programming Information by the Plan Approval Date shall constitute a Tenant Delay for purposes hereof.  Tenant understands that final construction documents for the Tenant Improvements shall be predicated on the Programming Information, and accordingly that such information must be accurate and complete and that any defects or problems due to incomplete or inaccurate Programming Information shall be the responsibility of the Tenant and that the Landlord shall have no obligation or liability for such defects or problems arising from any incomplete or inaccurate Programming Information.   Any delays in the completion of the Tenant Improvements due to incomplete or inaccurate Programming Information shall constitute a Tenant Delay.

		
	C.
	Upon Tenant's approval of the Preliminary Plan and Preliminary Cost Estimate and delivery of the complete Programming Information, Landlord's architect and engineers shall prepare and deliver to Tenant working drawings and specifications ("Working Drawings and Specifications"), and Landlord's contractor shall prepare a final construction cost estimate ("Final Cost Estimate") for the Tenant Improvements in conformity with the Working Drawings and Specifications.  Tenant shall have 

5 business days from the receipt thereof to approve or disapprove the Working Drawings and Specifications and the Final Cost Estimate.  Tenant shall not unreasonably withhold or delay its approval, and any disapproval or requested modification shall be limited to items not consistent with the approved Preliminary Plan or Preliminary Cost Estimate.  Should Tenant disapprove the Working Drawings and Specifications or the Final Cost Estimate, such disapproval shall be accompanied by specific reasons for disapproval and a detailed list of requested revisions.  Any revision requested by Tenant and accepted by Landlord, shall be incorporated into a revised set of Working Drawings and Specifications and the Final Cost Estimate, and Tenant shall approve same in writing within 5 business days of receipt without further revision.  
		
	D.
	In the event that Tenant requests in writing a revision to the Working Drawings and Specifications ("Change"), and Landlord so approves such Change as provided in the Section next below, Landlord shall advise Tenant by written change order as soon as is practical of any increase in the Completion Cost such Change would cause.  Tenant shall approve or disapprove such change order, if any, in writing within 2 business days following Tenant's receipt of such change order.  If Tenant approves any such change order, Landlord, at its election, may either (i) require as a condition to the effectiveness of such change order that Tenant pay the increase in the Completion Cost attributable to such change order concurrently with delivery of Tenant’s approval of the change order, or (ii) defer Tenant’s payment of such increase until the date 10 business days after delivery of invoices for same, provided however, that the Tenant’s Contribution must in any event be paid in full prior to Tenant’s commencing occupancy of the 15326 Alton Premises.  If Tenant disapproves any such change order, Tenant shall nonetheless be responsible for the reasonable architectural and/or planning fees incurred in preparing such change order.  Landlord shall have no obligation to interrupt or modify the Tenant Improvement Work pending Tenant's approval of a change order, but if Tenant fails to timely approve a change order, Landlord may (but shall not be required to) suspend the applicable Tenant Improvement Work, in which event any related critical path delays because of such suspension shall constitute Tenant Delays hereunder.

		
	E.
	Landlord agrees that it shall not unreasonably withhold its consent to Tenant's requested Changes, provided that such consent may be withheld in all events if the requested Change (i) is of a lesser quality than the Tenant Improvements previously approved by Landlord, (ii) fails to conform to applicable governmental requirements, (iii) would result in the 15326 Alton Premises requiring building services beyond the level Landlord has agreed to provide Tenant under the Lease, (iv) would delay construction of the Tenant Improvements and Tenant declines to accept such delay in writing as a Tenant Delay, (v) interferes in any manner with the proper functioning of, or Landlord’s access to, any mechanical, electrical, plumbing or HVAC systems, facilities or equipment in or serving the 15326 Alton Building,  or (vi) would have an adverse aesthetic impact to the 15326 Alton Premises or would cause additional expenses to Landlord in reletting the 15326 Alton Premises.  

		
	F.
	Notwithstanding any provision in the Lease to the contrary, and not by way of limitation of any other rights or remedies of Landlord, if Tenant fails to comply with any of the time periods specified in this Work Letter, fails otherwise to approve or reasonably disapprove any submittal within the time period specified herein for such response (or if no time period is so specified, within 5 business days following Tenant's receipt thereof), fails to approve in writing both the Preliminary Plan and Preliminary Cost Estimate for the Tenant Improvements by the Plan Approval Date, fails to provide all of the Programming Information requested by Landlord by the Plan Approval Date, fails to approve in writing the Working Drawings and Specifications or the Final Cost Estimate within the time provided herein, fails to timely deliver the Tenant’s Contribution as required hereunder, requests any Changes, furnishes inaccurate or erroneous Programming Information, specifications or other information, or otherwise delays in any manner the completion of the Tenant Improvements (including without limitation by specifying materials that are not readily available) or the issuance of an occupancy certificate (any of the foregoing being referred to in this Lease as a "Tenant Delay"), then Tenant shall bear any resulting additional construction cost or other expenses, and the Commencement Date of this Lease shall be deemed to have occurred for all purposes, including without limitation Tenant's obligation to pay rent, as of the date Landlord reasonably determines that it would have been able to deliver the Premises to Tenant but for the collective Tenant Delays.  Should Landlord determine that the Commencement Date should be advanced in accordance with the foregoing, it shall so notify Tenant in writing.  Landlord's determination shall be conclusive unless Tenant notifies Landlord in writing, within 5 business days thereafter of Tenant's election to contest same pursuant to Section 14.7 of the Lease.  Pending the 

outcome of such proceedings, Tenant shall make timely payment of all rent due under this Lease based upon the Commencement Date set forth in the aforesaid notice from Landlord.
		
	G.
	All of the Tenant Improvements shall become the property of Landlord and shall be surrendered with the Premises at the expiration or sooner termination of this Lease, except that Landlord shall have the right, by notice to Tenant given at the time of Landlord's approval of the Preliminary Plan, the Working Drawings and Specifications and any Change, to require Tenant either to remove all or any of the Tenant Improvements approved in the Preliminary Plan or in the Working Drawings and Specifications or by way of such Change, to repair any damage to the 15326 Alton Premises or the Common Areas arising from such removal, and to replace any Non-Standard Improvements so approved with the applicable Standard Improvement, or to reimburse Landlord for the reasonable cost of such removal, repair and replacement upon demand.  Any such removals, repairs and replacements by Tenant shall be completed by the Expiration Date or sooner termination of this Lease.

		
	H.
	Landlord shall permit Tenant and its agents to enter the 15326 Alton Premises prior to the Commencement Date for the 15326 Alton Premises in order that Tenant may install its cabling and related communication equipment through Tenant’s own contractors prior to the Commencement Date for the 15326 Alton Premises.  Any such work shall be subject to Landlord's prior written approval, and shall be performed in a manner and upon terms and conditions and at times satisfactory to Landlord's representative.  The foregoing license to enter the Premises prior to the Commencement Date for the 15326 Alton Premises is, however, conditioned upon Tenant's contractors and their subcontractors and employees working in harmony and not interfering with the work being performed by Landlord.  If at any time Landlord determines that such entry shall cause disharmony or interfere with the work being performed by Landlord, this license may be withdrawn by Landlord upon 24-hours written notice to Tenant.  That license is further conditioned upon the compliance by Tenant's contractors with all requirements imposed by Landlord on third party contractors, including without limitation the maintenance by Tenant and its contractors and subcontractors of workers' compensation and public liability and property damage insurance in amounts and with companies and on forms satisfactory to Landlord, with certificates of such insurance being furnished to Landlord prior to proceeding with any such entry.  The entry shall be deemed to be under all of the provisions of the Lease except as to the covenants to pay rent.  Landlord shall not be liable in any way for any injury, loss or damage which may occur to any such work being performed by Tenant, the same being solely at Tenant's risk.  In no event shall the failure of Tenant's contractors to complete any work in the 15326 Alton Premises extend the Commencement Date for the 15326 Alton Premises.

		
	I.
	Tenant hereby designates Dan Dearen (“Tenant’s Construction Representative”), Telephone No. (858) 775-9218, Email: ddearen@axonicsmodulation.com, as its representative, agent and attorney-in-fact for all matters related to the Tenant Improvement Work, including but not by way of limitation, for purposes of receiving notices, approving submittals and issuing requests for Changes, and Landlord shall be entitled to rely upon authorizations and directives of such person(s) as if given directly by Tenant.  The foregoing authorization is intended to provide assurance to Landlord that it may rely upon the directives and decision making of the Tenant’s Construction Representative with respect to the Tenant Improvement Work and is not  intended to limit or reduce Landlord’s right to reasonably rely upon any decisions or directives given by other officers or representatives of Tenant.   Any notices or submittals to, or requests of, Tenant related to this Work Letter and/or the Tenant Improvement Work may be sent to Tenant’s Construction Representative at the email address above provided.  Tenant may amend the designation of its Tenant’s Construction Representative(s) at any time upon delivery of written notice to Landlord.

II.    COST OF TENANT IMPROVEMENTS
		
	A.
	Landlord shall complete, or cause to be completed, the Tenant Improvements, at the construction cost shown in the Final Cost Estimate (subject to increases for Landlord approved Changes and as otherwise provided in this Work Letter), in accordance with final Working Drawings and Specifications approved by both Landlord and Tenant.  

		
	B.
	Landlord shall pay up to $2,120,365.00, based on $65.00 per usable square foot of the Premises ("Landlord's Maximum Contribution"), of the final “Completion Cost” (as defined below).  Tenant acknowledges that the Landlord's Maximum Contribution is intended only as the maximum amount 

Landlord will pay toward approved Tenant Improvements, and not by way of limitation, any partitions, modular office stations, fixtures, cabling, furniture and equipment requested by Tenant are in no event subject to payment as part of Landlord’s Contribution.  In the event the Completion Cost of the Tenant Improvement Work is less than the Landlord’s Maximum Contribution, Landlord’s actual contribution toward the Completion Cost ("Landlord's Contribution") shall equal such lesser amount, and, except as provided hereinbelow, Tenant shall have no right to receive any credit, refund or allowance of any kind for any unused portion of the Landlord's Maximum Contribution nor shall Tenant be allowed to make revisions to an approved Preliminary Plan, Working Drawings and Specifications or request a Change in an effort to apply any unused portion of Landlord's Maximum Contribution.  Notwithstanding the foregoing, Tenant may utilize a portion of the Landlord’s Contribution, not to exceed the amount of $326,210.00, based on $10.00 per rentable square foot of the Premises (the “Moving Allowance”), towards Tenant’s cost of cabling, furniture, fixtures and equipment and related moving expenses for Tenant’s move to the 15326 Alton Premises.  Landlord shall reimburse Tenant for such expenses, up to the amount of the Moving Allowance, within thirty (30) days following receipt from Tenant of invoices or other reasonably detailed evidence of Tenant’s expenditure of such expenses.  It is understood and agreed that the Moving Allowance shall be requested no later than March 31, 2020, and that Landlord shall not be obligated to fund any portion of the Moving Allowance requested after such date.

		
	C.
	Tenant shall pay any costs due to inaccurate or incomplete Programming Information and the amount, if any, by which aggregate Completion Cost for the Tenant Improvement Work exceeds the Landlord’s Maximum Contribution.  The amounts to be paid by Tenant for the Tenant Improvements pursuant to this Section II.C are sometimes cumulatively referred to herein as the “Tenant’s Contribution”.

		
	D.
	The “Completion Cost” shall mean all costs of Landlord in completing the Tenant Improvements in accordance with the approved Working Drawings and Specifications and with any approved Changes thereto, including but not limited to the following costs:  (i) payments made to architects, engineers, contractors, subcontractors and other third party consultants in the performance of the work, (ii) permit fees and other sums paid to governmental agencies, and (iii) costs of all materials incorporated into the work or used in connection with the work.  The Completion Cost shall also include a construction management fee to be paid to Landlord or to Landlord's management agent in the amount of three percent (3%) of the Completion Cost.  Unless expressly authorized in writing by Landlord, the Completion Cost shall not include (and no portion of the Landlord’s Contribution shall be paid for) any costs incurred by Tenant, including without limitation, any costs for space planners, managers, advisors or consultants retained by Tenant in connection with the Tenant Improvements.

		
	E.
	Prior to start of construction of the Tenant Improvements, Tenant shall pay to Landlord in full the amount of the Tenant's Contribution set forth in the approved Preliminary Cost Estimate or in the Final Cost Estimate (once approved by Tenant).  If the actual Completion Cost of the Tenant Improvements is greater than the Final Cost Estimate because of Changes, modifications or extras not reflected on the approved Working Drawings and Specifications, or because of Tenant Delays, then Tenant shall pay all such additional costs within 10 business days after written demand for same.  The balance of any sums not otherwise paid by Tenant shall be due and payable on or before the Commencement Date for the 15326 Alton Premises.  If Tenant defaults in the payment of any sums due under this Work Letter, Landlord shall (in addition to all other remedies) have the same rights as in the case of Tenant's failure to pay rent under the Lease, including, without limitation, the right to terminate this Lease and recover damages from Tenant and/or to charge a late payment fee and to collect interest on delinquent payments, and Landlord may (but shall not be required to) suspend the Tenant Improvement Work following such default, in which event any delays because of such suspension shall constitute Tenant Delays hereunder.

Schedule I

	
	
	Tenant Improvement / Interior Construction Outline Specifications
(By Tenant/Tenant Allowance)

Note During preliminary walk throughs, construction management is to confirm re-use of existing building components and provide direction to: 1) match existing , or 2) provide new building standard at all remodel conditions; or 3) provide upgrade to building standard based on project team input.  Each suite to be reviewed on a case-by-case basis.

	
		
	Tenant Standard 
General Office:
	CARPET
Direct glue broadloom carpet.

VINYL COMPOSITION TILE (VCT)
12” x 12” VCT Armstrong Standard Excelon.

WALLS
Standard Walls: 5/8” gypsum drywall on 2-1/2” x 25 ga. metal studs 16” o.c., floor to ceiling construction. No walls shall penetrate the grid unless required by code.  All walls shall be straight, and parallel to building exterior walls. All offices and rooms shall be constructed of a standard size and tangent to a building shell or core wall.  

Exterior Walls (First Generation Only): 5/8” gypsum drywall furring on 25 ga. metal studs, with R-13 insulation.

PAINT
Paint finish, one standard color to be Benjamin Moore AC-40, Glacier White, flat finish.  Dark colors subject to Landlord approval.

BASE
2-1/2” Burke rubber base; straight at cut pile carpet, coved at resilient flooring and loop carpet.

RUBBER TRANSITION STRIP
Transition strip between carpet and resilient flooring to be Burke #150, color: to match adjacent V.C.T.

PLASTIC LAMINATE
Plastic laminate color at millwork: Nevamar “Smoky White”, Textured #S-7-27T.

CEILING
2x4 USG Radar Illusions #2842 scored ceiling tile, installed in building standard 9/16” or 15/16” T-bar grid.  Continuous grid throughout.

LIGHTING
All spaces are to be illuminated with building standard 2 x 4 direct/indirect fixtures, approved by the Landlord.

DOORS
1-3/4” solid core, 3’’-0” x 8’-10” plain sliced white oak, Western Integrated clear anodized aluminum frames, Schlage “D” series “Sparta” latchset hardware, dull chrome finish.

OFFICE SIDELITES
All interior offices to have sidelite glazing adjacent to office entry door, 4’ wide x door height, Western Integrated clear anodized aluminum frame integral to door frame with clear tempered glass.

WINDOW COVERINGS
Vertical blinds: Mariak Industries PVC blinds at building perimeter windows, Model M-3000, Color: Light Grey.

	
		
	Tenant Standard 
Mechanical:
	

HVAC
General: Exterior corner spaces with more than one exposure shall be provided with a separate zone.  Conference Room (or Training Room) 20’ x 13’ or larger shall be provided with a separate zone. Exterior zone shall be limited to a single exposure and a maximum of 750 to 1000 square feet. 

Campus Office Building: Interior and Exterior zone VAV boxes shall be connected to the main supply air loop.  Exterior zone VAV boxes shall be provided with two-row hot water reheat coil. Interior zone shall be limited to a maximum of 2000 square feet.

Air distribution downstream of VAV boxes shall be provided complete with ductwork, 2’x2’ perforated face ceiling diffusers, 2’x2’ perforated return air grilles and air balance.  All ductwork shall be sheet metal constructed per SMACNA standards and insulated per the latest Title 24 requirements.

Pneumatic thermostats with blank white cover shall be provided for each zone.  Thermostats shall be located adjacent to light switch at 48” above finished floor.  When the building utilizes DDC zone control, DDC system shall be Andover and installed by AAS.  DDC system shall be interfaced to the existing Irvine Company network.

	Tenant Improvement / Interior Construction Outline Specifications
(Continued)

	Tenant Standard 
Mechanical (continued):
	

Mid-Tech / Manufacturing Building:  Air distribution downstream of packaged rooftop units and/or split system fan coil units shall be provided complete with ductwork, 2’x2’ perforated face ceiling diffusers, 2’x2’ perforated return air grilles and air balance.  All ductwork shall be sheet metal constructed per SMACNA standards and insulated per the latest Title 24 requirements. Interior zone shall be limited to a maximum of 2500 square feet.

Packaged rooftop units and/or split system units shall be connected to existing Irvine Company Energy Management System.  Thermostats shall be located adjacent to light switch at 48” above finished floor.  EMS shall be Andover and installed by AAS.  

New packaged rooftop units larger than 5-ton shall be provided with seismic isolation curb with minimum 1-inch spring deflection.  New packaged rooftop units larger than 6.25 ton shall be provided with economizer with barometric relief damper.

	Tenant Standard Fire Protection:
	

FIRE PROTECTION
Pendant satin chrome plated, recessed heads, adjustable canopies, minimum K factor to be 5.62, located at center of 2’ x 2’ section of scored ceiling tile.  Ceiling drops from shell supply loop.

	Tenant Standard Fire Sprinkler:
	

FIRE SPRINKLER
Hard pipe to be used. Any substitutions to be submitted for Landlord review and approval prior to install. 
Center sprinkler head in 2x2 ceiling tile.

	Tenant Standard
Electrical:
	

ELECTRICAL SYSTEM
A 277/480 volt, three phase, four wire tenant metered distribution section will be added to main service at Main Electrical Room.

Tenant Electrical Room, located within the lease space, as directed by the Landlord, to include 277/480 volt and 120/208 volt panels, transformer, lighting control panel, as required.  All newly installed panels and distribution boards shall have all branch circuit loads appropriately disaggregated per 2013 Title 24 requirements.

	
		
	 
	

Standard tenant electrical capacity will be provided in the following capacity:
Lighting 277V: Minimum of 1.2 watt watts per s.f.
General 277V Power:  As required to accommodate tenant loads.
HVAC Power 277/480V:  As required to accommodate the HVAC equipment.
General 120/208V Power: Minimum of 8.0 watts per s.f.  

LIGHTING
All spaces are to be illuminated with building standard 2’ x 4’, direct/indirect fixtures based on one (1) fixture per 96 square feet.  All lighting in newly renovated areas (and associated existing areas with renovations mandated by 2013 Title 24 requirements) are to be illuminated with building standard 2’x4’ direct/indirect LED 0-10V dimmable fixtures based on (1) fixture per 96 square feet.

Fixture to be Focal Point TICLED-24-4000L-35 (FLUL-24-PS-4000L-35K-1C-VOLT-LD1-GRID TYPE-EQ-WH) - All Fixtures should be ordered via Southern California Illumination, contact rep at 949-622-3000.

Any substitutions to these fixtures must be reviewed/approved by the Landlord.

All lighting in newly renovated areas (and associated existing areas with renovations mandated by 2013 Title 24 requirements) are to be controlled by 2013 Title 24 compliant digital lighting system, complete with room controller capable of full range 0-10V LED dimming, occupancy sensors, daylight sensors (as required), and low voltage digital switches as required for each respective enclosed space.  Locate switches at 48” to switch centerline.  Digital control system shall be by Greengate or equal by Wattstopper.  Projects in excess of 10,000 square feet shall also have demand responsive controls via input / output interface at each room controller location with applicable low voltage conductors routed to tenant electrical room for future connection to demand response system per 2013 Title 24 requirements.

Exit signs:  Internally illuminated, white sign face with green text.

	 
	

OUTLETS
Power: Leviton “Decora” style 15 / 20 amp 125-volt specification grade white duplex receptacle mounted vertically, 18” AFF to centerline, with a white plastic coverplate.

2013 Title 24 controlled receptacles are to be plug load controllable decorator receptacle, 15A, half control, white in color Legrand #26252CHW. Receptacle relay shall be wired to room controller in respective vicinity or enclosed space for controlled receptacle to shut off during periods of vacancy.

	Tenant Improvement / Interior Construction Outline Specifications
(Continued)

	
		
	Tenant Standard
Electrical (continued):
	

All furniture systems will be assumed to be a four (4) circuit / eight (8) wire configuration.  All furniture system workstations are assumed to have personal computers only and will be connected at a ratio of eight (8) workstations per four (4) circuit / eight (8) wire homerun.  For each four circuit homerun, the two “general” circuits shall be controlled circuits per 2013 Title 24 requirements and shall be controlled by relays connected to the room controller in respective vicinity or enclosed space for controlled receptacles in partitions to shut off during periods of vacancy.

All wall mounted furniture system communication feeds will be provided with (2) 1 1⁄2” conduit (non-fire rated / non-insulated walls) OR (2) 1-1⁄4” conduit (fire rated / insulated walls); a 4S/DP box and a double-gang mud ring in the wall.  One (1) furniture system communication feeds will be assumed to be capable of providing enough cabling capacity for eight (8) workstations.

Power and Telecom Feeds to systems furniture by Tenant to be via walls, furred columns or ceiling J-box.

All wall mounted general communication outlets in non-fire rated / non-insulated walls will be provided a 2-gang mud ring and a pull string in the wall.  All wall mounted communication outlets in fire-rated and insulated walls will be provided with 3⁄4” conduit (voice and / or data only) OR a 1” conduit (combination voice / data), stubbed into the accessible ceiling space, 4S/DP box and a single gang mud ring in the wall. Cover plate, jacks and cables by tenant.

A single tenant telecom room will be provided with a single 4’ x 8’ backboard.  An empty 2” conduit will be routed from this backboard to the building’s main telephone backboard.  An empty 4” conduit sleeve will be stubbed into the accessible ceiling space.  

	Tenant Standard Warehouse/Shipping and Receiving (if applicable):
	

FLOORS
Sealed concrete.

	 
	

WALLS
5/8” gypsum wallboard standard partition, height and construction subject to Landlord approval.  At furred walls, paint to match Benjamin Moore AC-40 Glacier White.  Provide rated partition at occupancy separation, as required by code.

	 
	

CEILING
Exposed structure, non-painted.

	 
	

WINDOWS
None.

	 
	

ACCESS
7’-6” H x 7’-6” W glazed service doors.  Glazing is bronze reflective glass.

	 
	

HVAC
None.

	 
	

PLUMBING
Single accommodation restroom, if required.

Sheet vinyl flooring to be Armstrong Classic Corlon “Seagate” #86526 Oyster, with Smooth White FRP panel wainscot to 48” high.  Painted walls and ceiling to be Benjamin Moore AC-40 Glacier White, semi-gloss finish.

	 
	

LIGHTING
T5 High Bay, 2 x 4 fixtures.

	 
	

OTHER ELECTRICAL
Convenience outlets; surface mounted at exposed concrete walls.

	 
	

SECURITY
Lockable doors.NeuBase Therapeutics, Inc. 8-K

 

Exhibit 10.1

 

COMMON STOCK PURCHASE AGREEMENT

 

COMMON STOCK PURCHASE
AGREEMENT (this “Agreement”), dated as of July 12, 2019, by and among NeuBase Therapeutics, Inc., a Delaware
corporation, with headquarters located at 700 Technology Drive, Pittsburgh, PA 15219 (“NeuBase”), and each of
the investors listed on the Schedule of Buyers attached hereto (individually, a “Buyer” and collectively, the
“Buyers”).

 

A.            WHEREAS,
each Buyer wishes to purchase from NeuBase, and NeuBase wishes to sell, upon the terms and conditions stated in this Agreement,
that aggregate number of shares of NeuBase’s common stock, par value $0.0001 per share (the “Common Stock”),
set forth opposite such Buyer’s name in column (3) on the Schedule of Buyers attached hereto (collectively, the “Common
Shares”) for an aggregate purchase price as set forth on the Schedule of Buyers (provided that each Buyer and its Affiliates
shall not be a “beneficial owner” of more than 9.99% of the Common Stock (as defined for purposes of Rule 13d-3 of
the 1934 Act (as defined below)) immediately following the Closing), and NeuBase desires to sell the Common Shares to the Buyers,
all on the terms and conditions set forth in this Agreement; and

 

B.            WHEREAS,
in reliance upon the representations made by each of the Buyers and NeuBase in this Agreement, the transactions contemplated by
this Agreement are such that the offer and sale of securities by NeuBase under this Agreement will be exempt from registration
under applicable United States securities laws as a result of the transaction being contemplated hereby being undertaken pursuant
to Section 4(a)(2) of the Securities Act of 1933, as amended (the “1933 Act”).

 

C.            NOW,
THEREFORE, in consideration of the terms and conditions contained herein, and other good and valuable consideration, the receipt
and sufficiency of which is hereby acknowledged, NeuBase and each Buyer hereby agree as follows:

 

1.             PURCHASE
AND SALE OF COMMON SHARES.

 

(a)             Purchase
of Common Shares. Subject to the satisfaction (or waiver) of the conditions set forth in Section 5 and Section 6
below, NeuBase shall issue and sell to each Buyer, and each Buyer severally, but not jointly, agrees to purchase from NeuBase on
the Closing Date (as defined below), the number of Common Shares as is set forth opposite such Buyer’s name in column (3)
on the Schedule of Buyers attached hereto at a purchase price of $3.25 per Common Share (the “Closing”).

 

(b)             Closing.
On the Closing Date (as defined below), upon the terms and subject to the conditions set forth herein, substantially concurrent
with the execution and delivery of this Agreement by the parties hereto, NeuBase agrees to sell, and each Buyer agrees to purchase,
the number of Common Shares at the Purchase Price (as defined below) set forth opposite such Buyer’s name in columns (3)
and (4), respectively, of the Schedule of Buyers attached hereto. The Closing shall occur on the second (2nd) Business Day following
the day on which the last to be satisfied or waived of the conditions set forth in Section 5 and Section 6 shall
be satisfied or waived in accordance with this Agreement (other than those conditions that by their terms are to be satisfied at
the Closing, it being understood that the occurrence of the Closing shall remain subject to the satisfaction or waiver of such
conditions at the Closing), or on such other date as the parties may mutually agree in writing, but in no event earlier than July
12, 2019 (the “Closing Date”). For purposes of this Agreement, “Business Day” means any day,
excluding Saturday, Sunday and any day which is a legal holiday in the City of New York or is a day on which banking institutions
located in the City of New York are authorized or required by law or other governmental action to close.

 

    1 

     

    

 

(c)             Purchase
Price. The purchase price for the Common Shares to be purchased by each Buyer pursuant to this Agreement shall be the amount
set forth opposite such Buyer’s name in column (4) of the Schedule of Buyers attached hereto (each, a “Purchase
Price”).

 

(d)             Section 4(a)(2). Assuming the accuracy of the representations and warranties of each Buyer and NeuBase set forth in Section
2 and Section 3, respectively, the parties acknowledge and agree that the purpose of such representations and warranties
is, among other things, to ensure that the transaction contemplated hereby qualify as a sale of securities under Section 4(a)(2)
of the 1933 Act.

 

(e)             Allocation
of Purchase Price. NeuBase and each Buyer, as a result of arm’s length bargaining, agree that (I) none of the Buyers
nor any of their Affiliates (as defined below) have rendered services to NeuBase in connection with this Agreement, and (II) except
as otherwise required by a final “determination” within the meaning of Section 1313(a)(1) of the U.S. Internal Revenue
Code of 1986, as amended, all tax returns and other information returns of each party relative to this Agreement, the Common Shares
issued pursuant hereto shall consistently reflect the matters agreed to in clause (I) of this Section 1(e).

 

2.             BUYER’S
REPRESENTATIONS AND WARRANTIES. Each Buyer, severally and not jointly, represents and warrants with respect to only itself
to NeuBase that, as of the date hereof and as of the Closing Date: 

 

(a)             No Public
Sale or Distribution. Such Buyer is acquiring the Common Shares for its own account and not with a view towards, or for resale
in connection with, the public sale or distribution thereof, except pursuant to sales registered or exempted under the 1933 Act;
provided, however, that by making the representations herein, such Buyer does not agree to hold any of the Common
Shares for any minimum or other specific term and reserves the right to dispose of the Common Shares at any time in accordance
with or pursuant to a registration statement or an exemption under the 1933 Act. Such Buyer is acquiring the Common Shares hereunder
in the ordinary course of its business. Such Buyer does not presently have any agreement or understanding, directly or indirectly,
with any Person to distribute any of the Common Shares. For purposes of this Agreement, “Person” means an individual,
a limited liability company, a partnership, a joint venture, a corporation, a trust, an unincorporated organization and a government
or any department or agency thereof.

 

    2 

     

    

 

(b)             Accredited
Investor Status; No Disqualification Events. Such Buyer is an “accredited investor” as that term is defined in
Rule 501(a) of Regulation D. None of the “bad actor” disqualifications described in Rule 506(d)(1)(i) through (viii)
under the 1933 Act (“Disqualification Events”) are applicable to such Buyer or any of its Rule 506(d) Related
Parties (as defined below), except, if applicable, for a Disqualification Event as to which Rule 506(d)(2)(ii) or (iii) or (d)(3)
is applicable. Such Buyer hereby agrees that it shall notify NeuBase promptly in writing in the event a Disqualification Event
becomes applicable to such Buyer or any of its Rule 506(d) Related Parties, except, if applicable, for a Disqualification Event
as to which Rule 506(d)(2)(ii) or (iii) or (d)(3) is applicable. For purposes of this Section 2(b), “Rule 506(d)
Related Party” shall mean a Person that is a beneficial owner of such Buyer’s securities for purposes of Rule 506(d)
of the 1933 Act. Such Buyer is not, and has not been, for a period of at least three months prior to the date of this Agreement
(a) an officer or director of NeuBase, (b) an “affiliate” of NeuBase (as defined in Rule 144) (an “Affiliate”),
or (c) a “beneficial owner” of more than 10% of the NeuBase’s Common Stock (as defined for purposes of Rule 13d-3
of the 1934 Act).

 

(c)             Reliance
on Exemptions. Such Buyer understands that the Common Shares are being offered and sold to it in reliance on specific exemptions
from the registration requirements of U.S. federal and state securities laws and that NeuBase is relying in part upon the truth
and accuracy of, and such Buyer’s compliance with, the representations, warranties, agreements, acknowledgments and understandings
of such Buyer set forth herein in order to determine the availability of such exemptions and the eligibility of such Buyer to acquire
the Common Shares.

 

(d)             Information.
Such Buyer has been furnished with all materials relating to the business, finances and operations of NeuBase and materials relating
to the transactions contemplated hereunder that have been requested by such Buyer. Such Buyer has been afforded the opportunity
to ask questions of NeuBase. Neither such inquiries nor any other due diligence investigations conducted by such Buyer or its representatives
shall modify, amend or affect such Buyer’s right to rely on NeuBase’s representations and warranties contained herein.
Such Buyer acknowledges that all of the documents filed by NeuBase with the SEC under Sections 13(a), 14(a) or 15(d) of the 1934
Act that have been posted on the SEC’s EDGAR site are available to such Buyer, and such Buyer has not relied on any statement
of NeuBase not contained in such documents in connection with such Buyer’s decision to enter into this Agreement and the
transactions contemplated hereby.

 

(e)             Risk. Such Buyer understands that its investment in the Common Shares involves a high degree of risk. Such Buyer is able
to bear the risk of an investment in the Common Shares, including, without limitation, the risk of total loss of its investment.
Such Buyer has sought such accounting, legal and tax advice as it has considered necessary to make an informed investment decision
with respect to the transactions contemplated hereby. Such Buyer understands that there is no assurance that the Common Shares
will continue to be quoted, traded or listed for trading or quotation on the Nasdaq Capital Market or on any other organized market
or quotation system.

 

(f)             No Governmental
Review. Such Buyer understands that no U.S. federal or state agency or any other government or governmental agency has passed
on or made any recommendation or endorsement of the Common Shares or the fairness or suitability of the investment in the Common
Shares nor have such authorities passed upon or endorsed the merits of the offering of the Common Shares.

 

    3 

     

    

 

(g)             Transfer
or Resale. Such Buyer acknowledges and agrees that the Common Shares are “restricted securities” as defined in
Rule 144 promulgated under the 1933 Act as in effect from time to time (or a successor rule thereto) (“Rule 144”)
and must be held indefinitely unless they are subsequently registered under the 1933 Act or an exemption from such registration
is available. Buyer has been advised or is aware of the provisions of Rule 144, which permits limited resale of shares purchased
in a private placement subject to the satisfaction of certain conditions, including, among other things: the availability of certain
current public information about NeuBase, the resale occurring following the required holding period under Rule 144 and the number
of shares being sold during any three-month period not exceeding specified limitations.

 

(h)             Authorization;
Validity; Enforcement. Such Buyer has all requisite power and authority to enter into this Agreement and the other Transaction
Documents (defined below) to which such Buyer is a party, to carry out its obligations hereunder and to consummate the transactions
contemplated hereby. This Agreement and the other Transaction Documents to which such Buyer is a party have been duly and validly
authorized, executed and delivered on behalf of such Buyer and shall constitute the legal, valid and binding obligations of such
Buyer enforceable against such Buyer in accordance with their respective terms, except as such enforceability may be limited by
general principles of equity or to applicable bankruptcy, insolvency, reorganization, moratorium, liquidation and other similar
laws relating to, or affecting generally, the enforcement of applicable creditors’ rights and remedies.

 

(i)              Legends. Such Buyer understands that the certificates or other instruments representing the Common Shares and, until such
time as the exchange or resale of the Common Shares have been registered under the 1933 Act, the Common Shares may bear a restrictive
legend in the following form (and a stop-transfer order may be placed against transfer of such Common Shares):

 

THE SECURITIES REPRESENTED BY THIS CERTIFICATE
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY
NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL SELECTED BY THE HOLDER, IN A FORM REASONABLY ACCEPTABLE
TO NEUBASE, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD OR ELIGIBLE TO BE SOLD PURSUANT TO RULE 144 OR
RULE 144A UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT
OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.

 

    4 

     

    

 

In addition, if
any Buyer is an affiliate of NeuBase, the Common Shares issued to such Buyer may bear a customary “affiliates” legend.

 

(j)              No
Conflicts. The execution, delivery and performance by such Buyer of this Agreement and the other Transaction Documents to which
such Buyer is a party and the consummation by such Buyer of the transactions contemplated hereby and thereby will not (i) result
in a violation of the organizational documents of such Buyer or (ii) conflict with, or constitute a default (or an event which
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 of, any agreement, indenture or instrument to which such Buyer is a party, or (iii) result in a violation of any
law, rule, regulation, order, judgment or decree (including federal and state securities laws) applicable to such Buyer, except
in the case of clauses (ii) and (iii) above, for such conflicts, defaults, rights or violations which would not, individually or
in the aggregate, reasonably be expected to have a material adverse effect on the ability of such Buyer to perform its obligations
hereunder.

 

3.             REPRESENTATIONS
AND WARRANTIES OF NEUBASE.

 

NeuBase represents and
warrants to each of the Buyers that, as of the date hereof and as of the Closing Date, except as set forth on the Schedule of Exceptions
attached hereto as Exhibit C (the “Disclosure Schedules”) (references to a “Schedule” in
this Agreement shall be deemed to refer to a schedule contained in the Disclosure Schedules unless otherwise expressly provided):

 

(a)             Organization
and Qualification. NeuBase and each controlled subsidiary of NeuBase (collectively, the “Subsidiaries”)
is an entity duly organized and validly existing and in good standing under the laws of the state of Delaware, and has the requisite
corporate power and authorization to own its properties and to carry on its business as now being conducted and as presently proposed
to be conducted. NeuBase is duly qualified as a foreign corporation to do business and is in good standing in every jurisdiction
in which its ownership of property or the nature of the business conducted by it makes such qualification necessary, except to
the extent that the failure to be so qualified or be in good standing would not reasonably be expected to have a Material Adverse
Effect. As used in this Agreement, “Material Adverse Effect” means any material adverse effect on the business,
properties, assets, liabilities, operations, results of operations, condition (financial or otherwise) or prospects of NeuBase,
individually or taken as a whole, or on the transactions contemplated hereby or on the other Transaction Documents (as defined
below) or by the agreements and instruments to be entered into in connection herewith or therewith, or on the authority or ability
of NeuBase to perform any of its obligations under any of the Transaction Documents. NeuBase does not, directly or indirectly,
own any of the capital stock or hold an equity or similar interest in any entity.

 

    5 

     

    

 

(b)             Authorization;
Enforcement; Validity. NeuBase has the requisite corporate power and authority to enter into and perform its obligations under
this Agreement, that certain Registration Rights Agreement, by and among the parties hereto, dated on or about the date hereof
(as may be amended, amended and restated, or supplemented from time to time), and each of the other agreements entered into by
NeuBase in connection with the transactions contemplated by this Agreement (collectively, the “Transaction Documents”)
and to issue the Common Shares in accordance with the terms hereof and thereof. The execution and delivery of this Agreement and
the other Transaction Documents by NeuBase and the consummation by NeuBase of the transactions contemplated hereby and thereby,
including, without limitation, the issuance of the Common Shares, have been duly authorized by NeuBase’s Board of Directors
and (other than the filing of a Form D with the SEC and any other filings as may be required by any state securities agencies),
no further filing, consent or authorization is required by NeuBase, its Board of Directors or its stockholders. This Agreement
and the other Transaction Documents have been duly executed and delivered by NeuBase, and constitute the legal, valid and binding
obligations of NeuBase, enforceable against NeuBase in accordance with their respective terms, except as such enforceability may
be limited by general principles of equity or applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar
laws relating to, or affecting generally, the enforcement of applicable creditors’ rights and remedies.

 

(c)             Issuance
of Common Shares. The issuance of the Common Shares is duly authorized and, except as disclosed in Schedule 3(c), upon
issuance in accordance with the terms of the Transaction Documents, the Common Shares shall be validly issued and free from all
preemptive or similar rights (except for those which have been validly waived prior to the date hereof), taxes, liens and charges
and other encumbrances with respect to the issue thereof and the Common Shares shall be fully paid and nonassessable with the holders
being entitled to all rights accorded to a holder of NeuBase Common Stock. Assuming the accuracy of each of the representations
and warranties set forth in Section 2 of this Agreement, the offer and issuance by NeuBase of the Common Shares is exempt
from registration under the 1933 Act.

 

(d)             No Conflicts.
Except as disclosed in Schedule 3(d), the execution, delivery and performance of the Transaction Documents by NeuBase and
the consummation by NeuBase of the transactions contemplated hereby and thereby (including, without limitation, the issuance of
the Common Shares) will not (i) result in a violation of NeuBase’s certificate of incorporation, as amended and as in effect
on the date hereof (the “Certificate of Incorporation”), or NeuBase’s bylaws, as amended and as in effect
on the date hereof (the “Bylaws”), or (ii) conflict with, or constitute a default (or an event which with notice
or lapse of time or both would become a default) in any respect under, or give to others any rights of termination, amendment,
acceleration or cancellation of, any agreement, indenture or instrument to which NeuBase is a party, or (iii) result in a violation
of any applicable law, rule, regulation, order, judgment or decree (including foreign, federal and state securities laws and regulations)
applicable to NeuBase or by which any property or asset of NeuBase is bound or affected, except, in the case of clauses (ii) and
(iii) above, as would not have or reasonably be expected to result in a Material Adverse Effect.

 

(e)             Consents.
Except as disclosed in Schedule 3(e), NeuBase is not required to obtain any consent from, authorization or order of, or
make any filing or registration with (other than the filing of a Form D with the SEC and any other filings as may be required by
any state securities agencies), any court, governmental agency or any regulatory or self-regulatory agency or any other Person
in order for it to execute, deliver or perform any of its obligations under or contemplated by the Transaction Documents, in each
case, in accordance with the terms hereof or thereof. All consents, authorizations, orders, filings and registrations which NeuBase
is required to obtain pursuant to the preceding sentence have been obtained or effected on or prior to the Closing Date (or in
the case of filings detailed above, will be made timely after the Closing Date).

 

    6 

     

    

 

(f)              Acknowledgment
Regarding Buyer’s Purchase of Common Shares. NeuBase acknowledges and agrees that each Buyer is acting solely in the
capacity of an arm’s length purchaser with respect to the Transaction Documents and the transactions contemplated hereby
and thereby and that no Buyer is (i) an officer or director of NeuBase, (ii) an “affiliate” of NeuBase (as defined
in Rule 144) or (iii) to the knowledge of NeuBase, a “beneficial owner” (as defined for purposes of Rule 13d-3 of the
1934 Act) of more than 10% of the NeuBase Common Stock. NeuBase further acknowledges that no Buyer is acting as a financial advisor
or fiduciary of NeuBase (or in any similar capacity) with respect to the Transaction Documents and the transactions contemplated
hereby and thereby, and any advice given by a Buyer or any of its representatives or agents in connection with the Transaction
Documents and the transactions contemplated hereby and thereby is merely incidental to such Buyer’s purchase of the Common
Shares. NeuBase further represents to each Buyer that NeuBase’s decision to enter into the Transaction Documents has been
based solely on the independent evaluation by NeuBase and its representatives.

 

(g)             SEC Reports; Financial Statements. NeuBase has filed all reports, schedules, forms, statements and other documents required
to be filed by NeuBase under the 1933 Act and the Securities Exchange Act of 1934, as amended (the “1934 Act”),
including pursuant to Section 13(a) or 15(d) of the 1934 Act, for the two years preceding the date of this Agreement (the foregoing
materials, including the exhibits thereto and documents incorporated by reference therein, being collectively referred to herein
as the “SEC Reports”) on a timely basis or has 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 1933 Act and the 1934 Act, as applicable, 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 the light of the circumstances under which they were made, not misleading. The financial
statements of NeuBase included in the SEC Reports comply in all material respects with applicable accounting requirements and the
rules and regulations of the Securities Exchange Commission (the “SEC”) with respect thereto as in effect at
the time of filing. Such financial statements have been prepared in accordance with generally accepted accounting principles in
the United States applied on a consistent basis during the periods involved (“GAAP”), except as may be otherwise
specified in such financial statements or the notes thereto and except that unaudited financial statements may not contain all
footnotes required by GAAP, and fairly present in all material respects the financial position of NeuBase 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. As of the date of this Agreement and as
of the Closing Date, there are no outstanding or unresolved comments received from the staff of the SEC with respect to the SEC
Reports, and to NeuBase’s knowledge, none of the SEC Reports is the subject of any ongoing SEC review or investigation.

 

    7 

     

    

 

(h)             Subsidiaries. All of the direct and indirect subsidiaries of NeuBase are set forth in the SEC Reports. The capital stock
or other equity interests of each Subsidiary that are owned by NeuBase are owned by NeuBase free and clear of any liens, and all
of the issued and outstanding shares of capital stock of each Subsidiary that is wholly-owned by NeuBase are validly issued and
are fully paid, non-assessable and free of preemptive and similar rights to subscribe for or purchase securities.

 

(i)              No General
Solicitation; Placement Agent’s Fees. Neither NeuBase, nor its affiliates, nor any Person acting on its or their behalf,
has engaged in any form of general solicitation or general advertising (within the meaning of Regulation D) in connection with
the offer or sale of the Common Shares. NeuBase shall be responsible for the payment of any placement agent’s fees, financial
advisory fees, or brokers’ commissions (other than for Persons engaged by any Buyer or its investment advisor) relating to
or arising out of the transactions contemplated hereby. NeuBase shall pay, and hold each Buyer harmless against, any liability,
loss or expense (including, without limitation, attorney’s fees and out-of-pocket expenses) arising in connection with any
such claim.

 

(j)              No Integrated
Offering. Neither NeuBase, nor any of its affiliates, nor any Person acting on its behalf has, directly or indirectly, made
any offers or sales of any security or solicited any offers to buy any security, under circumstances that would require registration
of the issuance of any of the Common Shares under the 1933 Act, whether through integration with prior offerings or otherwise,
or cause this offering of the Common Shares to require approval of stockholders of NeuBase for purposes of the 1933 Act or any
applicable stockholder approval provisions, including, without limitation, under the rules and regulations of any exchange or automated
quotation system on which any of the securities of NeuBase are listed or designated for quotation. Neither NeuBase nor its affiliates
nor any Person acting on their behalf will take any action or steps that would require registration of the issuance of any of the
Common Shares under the 1933 Act or cause the offering of any of the Common Shares to be integrated with other offerings for purposes
of any such applicable stockholder approval provisions.

 

(k)              Application
of Takeover Protections; Rights Agreement. NeuBase and its Board of Directors have taken all necessary action, if any, in order
to render inapplicable any control share acquisition, interested stockholder, business combination, poison pill (including, without
limitation, any distribution under a rights agreement) or other similar anti-takeover provision under the Certificate of Incorporation,
Bylaws or other organizational documents or the laws of the jurisdiction of its formation which is or could become applicable to
any Buyer as a result of the transactions contemplated by this Agreement, including, without limitation, NeuBase’s issuance
of the Common Shares and any Buyer’s ownership of the Common Shares. NeuBase and its Board of Directors have taken all necessary
action, if any, in order to render inapplicable any stockholder rights plan or similar arrangement relating to accumulations of
beneficial ownership of NeuBase Common Stock or a change in control of NeuBase.

 

    8 

     

    

 

(l)              Absence
of Certain Changes. Except as disclosed in the SEC Reports or Schedule 3(l)(i), since March 31, 2019, there has been
no material adverse change and no material adverse development in the business, assets, liabilities, properties, operations, condition
(financial or otherwise), results of operations or prospects of NeuBase. Except as disclosed in the SEC Reports or in Schedule
3(l)(ii), since March 31, 2019, NeuBase has not (i) declared or paid any dividends, (ii) sold any assets, individually or in
the aggregate, in excess of $100,000 outside of the ordinary course of business or (iii) had capital expenditures, individually
or in the aggregate, in excess of $350,000. NeuBase has not taken any steps to seek protection pursuant to any law or statute relating
to bankruptcy, insolvency, reorganization, receivership, liquidation or winding up, nor does NeuBase have any knowledge or reason
to believe that any of its creditors intend to initiate involuntary bankruptcy proceedings or any actual knowledge of any fact
which would reasonably lead a creditor to do so. NeuBase is not as of the date hereof, and after giving effect to the transactions
contemplated hereby to occur at the Closing, will not be Insolvent (as defined below). For purposes of this Agreement, “Insolvent”
means, with respect to any Person, (i) the present fair saleable value of such Person’s assets is less than the amount required
to pay such Person’s total Indebtedness (as defined below), (ii) such Person is unable to pay its debts and liabilities,
subordinated, contingent or otherwise, as such debts and liabilities become absolute and matured, (iii) such Person intends to
incur or believes that it will incur debts that would be beyond its ability to pay as such debts mature or (iv) such Person has
unreasonably small capital with which to conduct the business in which it is engaged as such business is now conducted and is proposed
to be conducted.

 

(m)            No Undisclosed
Events, Liabilities, Developments or Circumstances. No event, liability, development or circumstance has occurred or exists,
or is contemplated to occur with respect to NeuBase or its business, properties, prospects, operations or financial condition,
that would be required to be disclosed by NeuBase under applicable securities laws on a registration statement on Form S-1 filed
with the SEC relating to an issuance and sale by NeuBase of NeuBase Common Stock and which has not been publicly disclosed.

 

(n)             Conduct
of Business; Regulatory Permits. NeuBase is not in violation of any term of or in default under the Certificate of Incorporation
or the Bylaws. NeuBase is not in violation of any judgment, decree or order or any statute, ordinance, rule or regulation applicable
to NeuBase, and NeuBase will not conduct its business in violation of any of the foregoing, except in all cases for possible violations
which would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. NeuBase possesses
all certificates, authorizations and permits issued by the appropriate foreign, federal or state regulatory authorities necessary
to conduct its business, except where the failure to possess such certificates, authorizations or permits would not have, individually
or in the aggregate, a Material Adverse Effect, and NeuBase has not received any notice of proceedings relating to the revocation
or modification of any such certificate, authorization or permit. Without limiting the generality of the foregoing, except as set
forth in Schedule 3(n), NeuBase has no knowledge of any facts or circumstances that would reasonably lead to delisting or
suspension of Common Stock by the Nasdaq Capital Market (the “Principal Market”) in the foreseeable future.

 

(o)             Foreign
Corrupt Practices. Neither NeuBase, nor any director, officer, agent, employee or other Person acting on behalf of NeuBase
has, in the course of its actions for, or on behalf of, NeuBase (i) used any corporate funds for any unlawful contribution, gift,
entertainment or other unlawful expenses relating to political activity; (ii) made any direct or indirect unlawful payment to any
foreign or domestic government official or employee from corporate funds; (iii) violated or is in violation of any provision of
the U.S. Foreign Corrupt Practices Act of 1977, as amended; or (iv) made any unlawful bribe, rebate, payoff, influence payment,
kickback or other unlawful payment to any foreign or domestic government official or employee.

 

    9 

     

    

 

(p)            
Transactions with Affiliates. Except as set forth in Schedule 3(p), none of the officers, directors or employees
of NeuBase is presently a party to any transaction with NeuBase (other than for ordinary course services as employees, officers
or directors), including any contract, agreement or other arrangement providing for the furnishing of services to or by, providing
for rental of real or personal property to or from, or otherwise requiring payments to or from any such officer, director or employee
or, to the knowledge of NeuBase, any corporation, partnership, trust or other Person in which any such officer, director, or employee
has a substantial interest or is an employee, officer, director, trustee or partner.

 

(q)             Equity
Capitalization. As of the date hereof, the authorized capital stock of NeuBase consists of (I) 250,000,000 shares of NeuBase
Common Stock, of which as of the date hereof, 15,524,219 are issued and outstanding, 106,000 shares are issuable under outstanding
options to purchase NeuBase Common Stock and 804,940 shares are issuable under outstanding warrants to purchase NeuBase Common
Stock, and (II) 10,000,000 shares of preferred stock of NeuBase, none of which are issued or outstanding.

 

(r)              Indebtedness
and Other Contracts. Except as disclosed in the SEC Reports or Schedule 3(r), NeuBase (i) is not a party to any contract,
agreement or instrument, the violation of which, or default under which, by the other party(ies) to such contract, agreement or
instrument would reasonably be expected to result in a Material Adverse Effect, or (ii) is not in violation of any term of, or
in default under, any contract, agreement or instrument relating to any Indebtedness, except where such violations and defaults
would not result, individually or in the aggregate, in a Material Adverse Effect. For purposes of this Agreement: (x) “Indebtedness”
of any Person means, without duplication (A) all indebtedness for borrowed money, (B) all obligations issued, undertaken or assumed
as the deferred purchase price of property or services (including, without limitation, “capital leases” in accordance
with GAAP, consistently applied during the periods involved) (other than trade payables entered into in the ordinary course of
business consistent with past practice), (C) all reimbursement or payment obligations with respect to letters of credit, surety
bonds and other similar instruments, (D) all obligations evidenced by notes, bonds, debentures or similar instruments, including
obligations so evidenced incurred in connection with the acquisition of property, assets or businesses, (E) all indebtedness created
or arising under any conditional sale or other title retention agreement, or incurred as financing, in either case with respect
to any property or assets acquired with the proceeds of such indebtedness (even though the rights and remedies of the seller or
bank under such agreement in the event of default are limited to repossession or sale of such property), (F) all monetary obligations
under any leasing or similar arrangement which, in connection with GAAP, consistently applied for the periods covered thereby,
is classified as a capital lease, (G) all indebtedness referred to in clauses (A) through (F) above secured by (or for which the
holder of such Indebtedness has an existing right, contingent or otherwise, to be secured by) any mortgage, claim, lien, tax, right
of first refusal, pledge, charge, security interest or other encumbrance upon or in any property or assets (including accounts
and contract rights) owned by any Person, even though the Person which owns such assets or property has not assumed or become liable
for the payment of such indebtedness, and (H) all Contingent Obligations in respect of indebtedness or obligations of others of
the kinds referred to in clauses (A) through (G) above; and (y) “Contingent Obligation” means, as to any Person,
any direct or indirect liability, contingent or otherwise, of that Person with respect to any indebtedness, capital lease, dividend
or other obligation of another Person if the primary purpose or intent of the Person incurring such liability, or the primary effect
thereof, is to provide assurance to the obligee of such liability that such liability will be paid or discharged, or that any agreements
relating thereto will be complied with, or that the holders of such liability will be protected (in whole or in part) against loss
with respect thereto.

 

    10 

     

    

 

(s)             Absence
of Litigation. There is no action, suit, proceeding, inquiry or investigation before or by any court, public board, government
agency, self-regulatory organization or body pending or, to the knowledge of NeuBase, threatened against or affecting NeuBase,
the NeuBase Common Stock or any of NeuBase’s officers or directors, whether of a civil or criminal nature or otherwise, in
their capacities as such, except as set forth in the SEC Reports or Schedule 3(s). The litigation matters set forth in the
SEC Reports or in Schedule 3(s) would not reasonably be expected to have a Material Adverse Effect.

 

(t)              Employee
Relations. NeuBase is not a party to any collective bargaining agreement or employs any member of a union. NeuBase believes
that its relations with its employees are good. No executive officer (as defined in Rule 501(f) promulgated under the 1933 Act)
or other key employee of NeuBase has notified NeuBase that such officer intends to leave NeuBase or otherwise terminate such officer’s
employment with NeuBase. No executive officer or other key employee of NeuBase is, or is now expected to be, in violation of any
material term of any employment contract, confidentiality, disclosure or proprietary information agreement, non-competition agreement,
or any other contract or agreement or any restrictive covenant, and the continued employment of each such executive officer or
other key employee (as the case may be) does not subject NeuBase to any liability with respect to any of the foregoing matters.
NeuBase is in compliance with all federal, state, local and foreign laws and regulations respecting labor, employment and employment
practices and benefits, terms and conditions of employment and wages and hours, except where failure to be in compliance would
not, either individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect.

 

(u)             Title.
NeuBase has good and marketable title in fee simple to all real property and good and marketable title to all personal property
owned by it which is material to the business of NeuBase, in each case free and clear of all liens, encumbrances and defects except
such as do not materially affect the value of such property and do not interfere with the use made and proposed to be made of such
property by NeuBase. Any real property and facilities held under lease by NeuBase is held by it under valid, subsisting and enforceable
leases with such exceptions as are not material and do not interfere with the use made and proposed to be made of such property
and buildings by NeuBase.

 

(v)             Intellectual
Property Rights. NeuBase owns or possesses adequate rights or licenses to use all trademarks, trade names, service marks, service
mark registrations, service names, patents, patent rights, copyrights, original works of authorship, inventions, licenses, approvals,
governmental authorizations, trade secrets and other intellectual property rights and all applications and registrations therefor
(“Intellectual Property Rights”) necessary to conduct its business as now conducted. Except as set forth in
Schedule 3(v)(i), none of NeuBase’s Intellectual Property Rights have expired, terminated or been abandoned, or are
expected to expire, terminate or be abandoned, within three years from the date of this Agreement. NeuBase has no knowledge of
any infringement by NeuBase of Intellectual Property Rights of others. There is no claim, action or proceeding being made or brought,
or to the knowledge of NeuBase, being threatened, against NeuBase regarding its Intellectual Property Rights. NeuBase is not aware
of any facts or circumstances which might give rise to any of the foregoing infringements or claims, actions or proceedings. NeuBase
has taken reasonable security measures to protect the secrecy, confidentiality and value of all of its Intellectual Property Rights
that have been developed by NeuBase.

 

    11 

     

    

 

(w)            Environmental
Laws. NeuBase (A) is in compliance with all Environmental Laws (as defined below), (B) has received all permits, licenses or
other approvals required of it under applicable Environmental Laws to conduct its business and (C) is in compliance with all terms
and conditions of any such permit, license or approval where, in each of the foregoing clauses (A), (B) and (C), the failure to
so comply could be reasonably expected to have, individually or in the aggregate, a Material Adverse Effect. The term “Environmental
Laws” means all federal, state, local or foreign laws relating to pollution or protection of human health or the environment
(including, without limitation, ambient air, surface water, groundwater, land surface or subsurface strata), including, without
limitation, laws relating to emissions, discharges, releases or threatened releases of chemicals, pollutants, contaminants, or
toxic or hazardous substances or wastes (collectively, “Hazardous Materials”) into the environment, or otherwise
relating to the manufacture, processing, distribution, use, treatment, storage, disposal, transport or handling of Hazardous Materials,
as well as all authorizations, codes, decrees, demands or demand letters, injunctions, judgments, licenses, notices or notice letters,
orders, permits, plans or regulations issued, entered, promulgated or approved thereunder.

 

(x)             Tax
Status. NeuBase (i) has timely filed all foreign, federal and state income and all other tax returns, reports and declarations
required by any jurisdiction to which it is subject, (ii) has timely paid all taxes and other governmental assessments and charges
that are material in amount, shown or determined to be due on such returns, reports and declarations, except those being contested
in good faith, and (iii) has set aside on its books provision reasonably adequate for the payment of all taxes for periods subsequent
to the periods to which such returns, reports or declarations apply. There are no unpaid taxes in any material amount claimed to
be due by the taxing authority of any jurisdiction, and the officers of NeuBase know of no basis for any such claim.

 

(y)           
Investment Company Status. NeuBase is not, and upon consummation of the sale of the Common Shares, will not be, an “investment
company,” an affiliate of an “investment company,” a company controlled by an “investment company”
or an “affiliated person” of, or “promoter” or “principal underwriter” for, an “investment
company” as such terms are defined in the Investment Company Act of 1940, as amended.

 

(z)             U.S.
Real Property Holding Corporation. NeuBase is not, and has never been, a U.S. real property holding corporation within the
meaning of Section 897 of the Internal Revenue Code of 1986, as amended, and NeuBase shall so certify upon any Buyer’s reasonable
request.

 

(aa)           Shell Company
Status. NeuBase is not, and has never been, an issuer identified in, or subject to, Rule 144(i)(1) of the 1933 Act.

 

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(bb)          Compliance
with Anti-Money Laundering Laws. The operations of NeuBase are and have been conducted at all times in compliance with applicable
financial recordkeeping and reporting requirements and all other applicable U.S. and
non-U.S. anti-money laundering laws, rules and regulations, including, but not limited to, those of the Currency and Foreign Transactions
Reporting Act of 1970, as amended, the United States Bank Secrecy Act, as amended by the USA PATRIOT Act of 2001, and the
United States Money Laundering Control Act of 1986 (18 U.S.C. §§1956 and 1957), as amended, as
well as the implementing rules and regulations promulgated thereunder, and the applicable money laundering statutes of all applicable
jurisdictions, the rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered
or enforced by any governmental agency or self-regulatory body (collectively, the “Anti-Money Laundering Laws”),
and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving
NeuBase with respect to the Anti-Money Laundering Laws is pending or, to the knowledge of NeuBase, threatened.

 

(cc)           No
Conflicts with Sanctions Laws. Neither NeuBase nor any director, officer, employee,
agent, affiliate or other person associated with or acting on behalf of NeuBase or
any of its affiliates is, or is directly or indirectly owned or controlled by, a Person that is currently the subject or the target
of any sanctions administered or enforced by the U.S. government (including, without limitation, the Office of Foreign Assets Control
of the U.S. Department of the Treasury or the U.S. Departments of State or Commerce and including, without limitation, the designation
as a “Specially Designated National” or on the “Sectoral Sanctions Identifications List”, collectively
“Blocked Persons”), the United Nations Security Council, the European Union, Her Majesty’s Treasury or any other
relevant sanctions authority (collectively, “Sanctions Laws”); neither NeuBase,
nor any director, officer, employee, agent, affiliate or other person associated with or acting on behalf of NeuBase or
its affiliates, is located, organized or resident in a country or territory that is the subject or target of a comprehensive embargo
or Sanctions Laws prohibiting trade with the country or territory, including, without limitation, Crimea, Cuba, Iran, North Korea,
Sudan and Syria (each, a “Sanctioned Country”); NeuBase maintains in effect and enforces policies and
procedures reasonably designed to ensure compliance by NeuBase with applicable Sanctions Laws; neither
NeuBase, nor any director, officer, employee, agent, affiliate or other person associated
with or acting on behalf of NeuBase or its affiliates, acting in any capacity in connection
with the operations of NeuBase, conducts any business with or for the benefit
of any Blocked Person or engages in making or receiving any contribution of funds, goods or services to, from or for the benefit
of any Blocked Person, or deals in, or otherwise engages in any transaction relating to, any property or interests in property
blocked or subject to blocking pursuant to any applicable Sanctions Laws; no action of NeuBase
in connection with (i) the execution, delivery and performance of this Agreement and the
other Transaction Documents, (ii) the issuance and sale of the Common Shares, or (iii)
the direct or indirect use of proceeds from the Common Shares or the consummation
of any other transaction contemplated hereby or by the other Transaction Documents or the fulfillment of the terms hereof or thereof,
will result in the proceeds of the transactions contemplated hereby and by the other Transaction Documents being used, or loaned,
contributed or otherwise made available, directly or indirectly, to any joint venture partner or other person or entity, for the
purpose of (i) unlawfully funding or facilitating any activities of or business with any person that, at the time of such funding
or facilitation, is the subject or target of Sanctions Laws, (ii) unlawfully funding or facilitating any activities of or business
in any Sanctioned Country or (iii) in any other manner that will result in a violation by any Person (including any Person participating
in the transaction, whether as underwriter, advisor, investor or otherwise) of Sanctions Laws. From its inception, NeuBase
has not knowingly engaged in and is not now knowingly engaged in any dealings or transactions
with any person that at the time of the dealing or transaction is or was the subject or the target of Sanctions Laws or with any
Sanctioned Country.

 

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(dd)          Anti-Bribery.
NeuBase has not made any contribution or other payment to any official of, or candidate for, any federal, state or foreign
office in violation of any law which violation is required to be disclosed. Neither NeuBase,
nor any of its affiliates, nor any director, officer, agent, employee or other person associated with or acting on behalf of NeuBase,
or any of its affiliates, has (i) used any funds for any unlawful contribution, gift, entertainment or other unlawful expense relating
to political activity, (ii) made any direct or indirect unlawful payment to any foreign or domestic government official or employee,
to any employee or agent of a private entity with which NeuBase does or seeks to do
business or to foreign or domestic political parties or campaigns, (iii) violated or is in violation of any provision of any applicable
law or regulation implementing the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions
or any applicable provision of the U.S. Foreign Corrupt Practices Act of 1977, as amended, the U.K. Bribery Act 2010, or any other
similar law of any other jurisdiction in which NeuBase operates its business, including, in each case, the rules and regulations
thereunder (the “Anti-Bribery Laws”), (iv) taken, is currently taking or will take any action in furtherance
of an offer, payment, gift or anything else of value, directly or indirectly, to any person while knowing that all or some portion
of the money or value will be offered, given or promised to anyone to improperly influence official action, to obtain or retain
business or otherwise to secure any improper advantage or (v) otherwise made any offer, bribe, rebate, payoff, influence payment,
unlawful kickback or other unlawful payment; NeuBase has instituted and has maintained,
and will continue to maintain, policies and procedures reasonably designed to promote and achieve compliance with the laws referred
to in (iii) above and with this representation and warranty; none of NeuBase, nor
any of its affiliates will directly or indirectly use the proceeds of the convertible securities or lend, contribute or otherwise
make available such proceeds to any subsidiary, affiliate, joint venture partner or other person or entity for the purpose of financing
or facilitating any activity that would violate the laws and regulations referred to in (iii) above; there are, and have been,
no allegations, investigations or inquiries with regard to a potential violation of any Anti-Bribery Laws by NeuBase,
or its affiliates, or any of their respective current or former directors, officers, employees, stockholders, representatives
or agents, or other persons acting or purporting to act on their behalf.

 

(ee)           No Disqualification
Events. None of NeuBase, any of its predecessors, any affiliated issuer, any director, executive officer, other officer of
NeuBase participating in the offering hereunder, any beneficial owner of 20% or more of NeuBase’s outstanding voting equity
securities, calculated on the basis of voting power, nor any promoter (as that term is defined in Rule 405 under the 1933 Act)
connected with NeuBase in any capacity at the time of sale (each, an “Issuer Covered Person” and, together,
“Issuer Covered Persons”) is subject to any a Disqualification Event, except, if applicable, for a Disqualification
Event as to which Rule 506(d)(2)(ii) or (iii) or (d)(3) is applicable. NeuBase has exercised reasonable care to determine whether
any Issuer Covered Person is subject to a Disqualification Event. NeuBase has complied, to the extent applicable, with its disclosure
obligations under Rule 506(e), and has furnished to the Buyers a copy of any disclosures provided thereunder.

 

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(ff)            Disclosure.
NeuBase confirms that neither it nor any other Person acting on its behalf has provided any of the Buyers or their agents or counsel
with any information that constitutes or could reasonably be expected to constitute material, non-public information concerning
NeuBase, other than the existence of the transactions contemplated by this Agreement and the other Transaction Documents. NeuBase
understands and confirms that each of the Buyers will rely on the foregoing representations in effecting transactions in securities
of NeuBase. All disclosure provided to the Buyers regarding NeuBase, its business and the transactions contemplated hereby, including
the schedules to this Agreement, furnished by or on behalf of NeuBase is true and correct and does not contain any untrue statement
of a material fact or omit to state any material fact necessary in order to make the statements made therein, in the light of the
circumstances under which they were made, not misleading. All of the written information furnished after the date hereof by or
on behalf of NeuBase to you pursuant to or in connection with this Agreement and the other Transaction Documents, taken as a whole,
will be true and correct in all material respects as of the date on which such information is so provided and will not contain
any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements made therein,
in the light of the circumstances under which they are made, not misleading. No event or circumstance has occurred or information
exists with respect to NeuBase or its or their business, properties, liabilities, prospects, operations (including results thereof)
or conditions (financial or otherwise), which, under applicable law, rule or regulation, requires public disclosure at or before
the date hereof or announcement by NeuBase but which has not been so publicly disclosed. NeuBase acknowledges and agrees that no
Buyer makes or has made any representations or warranties with respect to the transactions contemplated hereby other than those
specifically set forth in Section 2.

 

(gg)          Disclosure
Controls. NeuBase maintains systems of internal accounting controls designed to provide reasonable assurance that (a) transactions
are executed in accordance with management’s general or specific authorizations; (b) transactions are recorded as necessary
to permit preparation of financial statements in conformity with GAAP and to maintain asset accountability; (c) access to assets
is permitted only in accordance with management’s general or specific authorization; and (d) the recorded accountability
for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences.
NeuBase is not aware of any material weaknesses in its internal control over financial reporting. To the knowledge of NeuBase and
except as disclosed on Schedule 3(gg), since the date of the latest audited financial statements of NeuBase included within
the SEC Reports, there has been no change in NeuBase’s internal control over financial reporting that has materially affected,
or is reasonably likely to materially affect, NeuBase’s internal control over financial reporting. Except as disclosed on
Schedule 3(gg), NeuBase has established disclosure controls and procedures (as defined in 1934 Act Rules 13a-15 and 15d-15)
for NeuBase and designed such disclosure controls and procedures to ensure that material information relating to NeuBase and the
Subsidiaries is made known to the certifying officers by others within those entities, particularly during the period in which
NeuBase’s Annual Report on Form 10-K or Quarterly Report on Form 10-Q, as the case may be, is being prepared. NeuBase’s
certifying officers evaluated the effectiveness of NeuBase’s controls and procedures as of a date within 90 days prior to
the filing date of the Annual Report on Form 10-K for the fiscal year most recently ended (such date, the “Evaluation
Date”). NeuBase presented in its Annual Report on Form 10-K for the fiscal year most recently ended the conclusions of
the certifying officers about the effectiveness of the disclosure controls and procedures based on their evaluations as of the
Evaluation Date. Since the Evaluation Date, there have been no significant changes in NeuBase’s internal controls (as such
term is defined in Item 307(b) of Regulation S-K under the 1933 Act) or, to NeuBase’s knowledge, in other factors that would
significantly adversely affect NeuBase’s internal controls except as disclosed on Schedule 3(gg). To the knowledge
of NeuBase, NeuBase’s “internal control over financial reporting” and “disclosure controls and procedures”
(as such terms are defined under the 1934 Act) are effective at a reasonable assurance level.

 

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4.             COVENANTS.

 

(a)             Commercially
Reasonable Efforts. Each party shall use its commercially reasonable efforts timely to satisfy each of the covenants and the
conditions to be satisfied by it as provided in Section 5 and Section 6 of this Agreement.

 

(b)             Compliance
with Laws. Notwithstanding any other provision of the Transaction Documents, each Buyer covenants that the Common Shares may
be disposed of only pursuant to an effective registration statement under, and in compliance with the requirements of, the 1933
Act, or pursuant to an available exemption from, or in a transaction not subject to, the registration requirements of the 1933
Act, and in compliance with any applicable state and federal securities laws. In connection with any transfer of the Common Shares
other than (i) pursuant to an effective registration statement or (ii) to NeuBase, NeuBase may require the transferor thereof to
provide to NeuBase an opinion of counsel selected by the transferor and reasonably acceptable to NeuBase, the form and substance
of which opinion shall be reasonably satisfactory to NeuBase, to the effect that such transfer does not require registration of
such transferred Common Shares under the 1933 Act.

 

(c)             Removal
of Legends. Subject to NeuBase’s right to request an opinion of counsel as set forth in Section 4(b), the legend
set forth in Section 2(h) shall be removable and NeuBase shall issue or cause to be issued a certificate or book-entry evidence
of ownership without such legend or any other legend (except for any “affiliates” legend as set forth in Section
2(h)) to the holder of the applicable Common Shares upon which it is stamped, if (i) such Common Shares are registered for
resale and resold pursuant to an effective registration statement under the 1933 Act or (ii) such Common Shares are sold or transferred
in compliance with Rule 144, including without limitation in compliance with the current public information requirements of Rule
144 if applicable to NeuBase at the time of such sale or transfer, and the holder and its broker have delivered customary documents
reasonably requested by counsel to NeuBase in connection with such sale or transfer. Any fees (with respect to the counsel to NeuBase
or otherwise) associated with the removal of such legend shall be borne by NeuBase.

 

(d)             Use
of Proceeds. NeuBase shall use the proceeds from the sale of the Common Shares for working capital and general corporate purposes.

 

    16 

     

    

 

(e)             Fees.
NeuBase and the Buyers shall each pay the fees and expenses of their respective advisers, counsel, accountants and other experts,
if any, and all other expenses incurred by such party in connection with the negotiation, preparation, execution, delivery and
performance of this Agreement.

 

(f)              Notice
of Disqualification Events. NeuBase will notify the Buyers in writing, prior to the Closing Date of (i) any Disqualification
Event relating to any Issuer Covered Person and (ii) any event that would, with the passage of time, become a Disqualification
Event relating to any Issuer Covered Person, in each case of which it is aware.

 

5.             CONDITIONS
TO NEUBASE’S OBLIGATION TO ISSUE AND SELL.

 

The obligation of NeuBase
hereunder to issue and sell the Common Shares at the Closing is subject to the satisfaction, at or before the Closing Date, of
each of the following conditions, provided that these conditions are for NeuBase’s sole benefit and may be waived
by NeuBase at any time in its sole discretion by providing each Buyer with prior written notice thereof:

 

(i)             Such
Buyer shall have executed each of the Transaction Documents to which it is a party and delivered the same to NeuBase.

 

(ii)            The
Purchase Price for the Common Shares with respect to each Buyer shall have been received by NeuBase.

 

(iii)           The
representations and warranties made by such Buyer in this Agreement shall be true and correct as of the date hereof and on and
as of the Closing Date as though made at that time (except for representations and warranties that speak as of a specific date
which shall be true and correct as of such specified date); and such Buyer shall have performed, satisfied and complied in all
respects with the covenants, agreements and conditions required by this Agreement to be performed, satisfied or complied with by
such Buyer at or prior to the Closing Date.

 

(iv)           All
authorizations, approvals or permits, if any, of any governmental authority or regulatory body of the United States or of any state
that are required in connection with the lawful issuance and sale of the Common Shares pursuant to this Agreement shall be obtained
and effective as of the Closing.

 

6.             CONDITIONS
TO EACH BUYER’S OBLIGATION TO PURCHASE.

 

The obligation of each
Buyer hereunder to purchase the Common Shares at the Closing is subject to the satisfaction, at or before the Closing Date, of
each of the following conditions, provided that these conditions are for each Buyer’s sole benefit and may be waived
by such Buyer at any time in its sole discretion by providing NeuBase with prior written notice thereof:

 

(i)             NeuBase
shall have duly executed and delivered to such Buyer (A) each of the Transaction Documents and (B) the Common Shares (allocated
in such amounts as such Buyer shall request), being purchased by such Buyer at the Closing pursuant to this Agreement.

 

    17 

     

    

 

(ii)            NeuBase
shall have delivered a filed copy of the Certificate of Incorporation as in effect on the date hereof.

 

(iii)           NeuBase
shall have delivered a certificate, executed by NeuBase’s Secretary and dated as of the Closing Date, as to (i) the resolutions
consistent with Section 3(b) as adopted by its Board of Directors, (ii) the Certificate of Incorporation and (iii) the Bylaws
in effect at the Closing, in the form attached hereto as Exhibit A.

 

(iv)           The
representations and warranties made by NeuBase in this Agreement shall be true and correct as of the date hereof and on and as
of the Closing Date as though made at that time (except for representations and warranties that speak as of a specific date which
shall be true and correct as of such specified date); and NeuBase shall have performed, satisfied and complied in all respects
with the covenants, agreements and conditions required by the Transaction Documents to be performed, satisfied or complied with
by it at or prior to the Closing Date. Such Buyer shall have received a certificate, executed by the Chief Executive Officer of
NeuBase, dated as of the Closing Date, to the foregoing effect and as to such other matters as may be reasonably requested by such
Buyer in the form attached hereto as Exhibit B.

 

(v)            All
conditions precedent to the closing of the Merger contained in the Merger Agreement shall have been satisfied or waived, and the
parties to the Merger Agreement shall have consummated the Merger on the terms and conditions set forth therein.

 

(vi)           NeuBase
shall have delivered a customary legal opinion in substance reasonably satisfactory to such Buyer, dated the date of Closing, from
Paul Hastings LLP, counsel for the Company, with respect to the Transaction Documents and the Common Shares.

 

(vii)          All
authorizations, approvals or permits, if any, of any governmental authority or regulatory body of the United States or of any state
that are required in connection with the lawful issuance and sale of the Common Shares pursuant to this Agreement shall be obtained
and effective as of the Closing.

 

    18 

     

    

 

7.             TERMINATION.
In the event that the Closing shall not have occurred with respect to a Buyer on or before July 17, 2019 due to NeuBase’s
or such Buyer’s failure to satisfy the conditions set forth in Section 5 and Section 6, respectively, above
(and the nonbreaching party’s failure to waive such unsatisfied condition(s)), the Buyer, if such Buyer is the nonbreaching
party, or NeuBase, if NeuBase is the nonbreaching party, shall have the option to terminate this Agreement with respect to such
Buyer, if such Buyer is the breaching party, or with respect to NeuBase, if NeuBase is the breaching party, at the close of business
on such date by delivering a written notice to that effect to each other party to this Agreement and without liability of any party
to any other party.

 

8.             MISCELLANEOUS.

 

(a)             Governing
Law; Jurisdiction; Jury Trial. This Agreement and any related dispute shall be governed by, and construed and interpreted in
accordance with, the laws of the State of Delaware applicable to contracts executed in and to be performed in that State. Each
of the parties hereto hereby (a) irrevocably submits to the personal jurisdiction of the Delaware Court of Chancery and any state
appellate court therefrom within the State of Delaware (or, if the Delaware Court of Chancery declines to accept jurisdiction over
a particular matter, any state or federal court within the State of Delaware) in the event that any dispute arises out of this
Agreement or any of the transactions contemplated by this Agreement, (b) agrees that it will not attempt to deny or defeat such
personal jurisdiction or venue by motion or other request for leave from any such court and (c) agrees that it will not bring any
action relating to this Agreement or any of the transactions contemplated by this Agreement in any court other than the Delaware
Court of Chancery and any state appellate court therefrom within the State of Delaware (or, if the Delaware Court of Chancery declines
to accept jurisdiction over a particular matter, any state or federal court within the State of Delaware). EACH OF THE PARTIES
HERETO HEREBY IRREVOCABLY WAIVES, TO THE EXTENT PERMITTED BY APPLICABLE LEGAL REQUIREMENTS, ANY AND ALL RIGHT TO TRIAL BY JURY
IN ANY ACTION, SUIT OR OTHER LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

 

(b)             Counterparts.
This Agreement may be executed in two or more identical counterparts, all of which 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; provided that
a facsimile, .pdf or any other electronic signature complying with the U.S. federal ESIGN Act of 2000 (e.g., www.docusign.com)
shall be considered due execution and shall be binding upon the signatory thereto with the same force and effect as if the signature
were an original, not a facsimile, .pdf or other electronic signature.

 

(c)             Headings.
The headings of this Agreement are for convenience of reference and shall not form part of, or affect the interpretation of, this
Agreement.

 

(d)             Severability.
If any provision of this Agreement is prohibited by law or otherwise determined to be invalid or unenforceable by a court of competent
jurisdiction, the provision that would otherwise be prohibited, invalid or unenforceable shall be deemed amended to apply to the
broadest extent that it would be valid and enforceable, and the invalidity or unenforceability of such provision shall not affect
the validity of the remaining provisions of this Agreement so long as this Agreement as so modified continues to express, without
material change, the original intentions of the parties as to the subject matter hereof and the prohibited nature, invalidity or
unenforceability of the provision(s) in question does not substantially impair the respective expectations or reciprocal obligations
of the parties or the practical realization of the benefits that would otherwise be conferred upon the parties. The parties will
endeavor in good faith negotiations to replace the prohibited, invalid or unenforceable provision(s) with a valid provision(s),
the effect of which comes as close as possible to that of the prohibited, invalid or unenforceable provision(s).

 

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(e)             Entire
Agreement; Amendments. This Agreement and the other Transaction Documents supersede all other prior oral or written agreements
between NeuBase, its affiliates and Persons acting on their behalf, on the one hand, and the Buyers, their affiliates and Persons
acting on their behalf, on the other hand, with respect to the matters discussed herein, and this Agreement, the other Transaction
Documents and the instruments referenced herein and therein contain the entire understanding of the parties with respect to the
matters covered herein and therein and, except as specifically set forth herein or therein, neither NeuBase nor any Buyer makes
any representation, warranty, covenant or undertaking with respect to such matters. No provision of this Agreement may be amended
other than by an instrument in writing signed by NeuBase and the holders of at least a majority of the aggregate amount of Common
Shares issued hereunder, and any amendment to this Agreement made in conformity with the provisions of this Section 8(e)
shall be binding on all Buyers and holders of Common Shares and NeuBase; provided, that any such amendment or waiver that
complies with the foregoing but that disproportionately, materially and adversely affects the rights and obligations of any Buyer
relative to the comparable rights and obligations of the other Buyers shall require the prior written consent of such adversely
affected Buyer (for the avoidance of doubt, participation by any Buyer in an unrelated financing by NeuBase shall not be deemed
to disproportionately affect the Buyers who do not participate in such financing). No provisions hereto may be waived other than
by an instrument in writing signed by the party against whom enforcement is sought. No such amendment shall be effective to the
extent that it applies to less than all of the Buyers or holders of the applicable Common Shares then outstanding. No consideration
shall be offered or paid to any Person to amend or consent to a waiver or modification of any provision of any of the Transaction
Documents unless the same consideration (other than the reimbursement of legal fees) also is offered to all of the parties to the
Transaction Documents and holders of Common Shares, as the case may be.

 

(f)             Notices.
Any notices, consents, waivers or other communications required or permitted to be given under the terms of this Agreement or any
of the other Transaction Documents must be in writing and will be deemed to have been delivered: (i) upon receipt, when delivered
personally; (ii) upon delivery by electronic mail; (iii) upon delivery, when sent by electronic mail (provided, that the
sending party does not receive an automated rejection notice); or (iv) one (1) Business Day after deposit with an overnight courier
service, in each case properly addressed to the party to receive the same. The addresses and e-mail addresses for such communications
shall be:

 

    20 

     

    

 

If to NeuBase:

 

NeuBase Therapeutics, Inc.

700 Technology Drive

Pittsburgh, PA 15219

Telephone:    (646) 450-1790

Attention:      Dr. Dietrich Stephan

E-mail:          dstephan@neubasetherapeutics.com

 

With a copy (for informational purposes only)
to:

 

Paul Hastings LLP

1117 S. California Avenue

Palo Alto, CA 94304

Telephone:    (650) 320-1804

Facsimile:      (650) 320-1904

E-mail:           jeffhartlin@paulhastings.com

Attention:      Jeffrey T. Hartlin

 

If to a Buyer, to its
address, facsimile number and e-mail address set forth on the Schedule of Buyers attached hereto, with copies to such Buyer’s
representatives as set forth on the Schedule of Buyers attached hereto, or to such other address and/or e-mail address and/or
to the attention of such other Person as the recipient party has specified by written notice given to each other party five (5)
calendar days prior to the effectiveness of such change. Written confirmation of receipt (A) given by the recipient of such notice,
consent, waiver or other communication, (B) mechanically or electronically generated by the sender’s e-mail containing the
time and date or (C) provided by an overnight courier service shall be rebuttable evidence of personal service, receipt by facsimile
or receipt from an overnight courier service in accordance with clause (i), (ii) or (iii) above, respectively.

 

(g)             Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their respective successors and
assigns, including any purchasers of the Common Shares. NeuBase shall not assign this Agreement or any rights or obligations hereunder
without the prior written consent of the Buyers (other than by merger, consolidation or to an entity which acquires NeuBase, including
by way of acquiring all or substantially all of NeuBase’s assets). No Buyer may assign this Agreement or any rights or obligations
hereunder without the prior written consent of NeuBase.

 

(h)             Third Party
Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective permitted successors and
assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other Person.

 

(i)             Survival.
Unless this Agreement is terminated under Section 7, the representations and warranties of the Buyers and NeuBase contained
in Section 2 and Section 3, respectively, and the agreements and covenants set forth in Section 4 and this
Section 8 shall survive the Closing. NeuBase and each Buyer shall be responsible only for its own representations, warranties,
agreements and covenants hereunder.

 

    21 

     

    

 

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

 

(k)             No
Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to express
their mutual intent, and no rules of strict construction will be applied against any party.

 

(l)              Remedies.
Each Buyer and each holder of the Common Shares shall have all rights and remedies set forth in the Transaction Documents and all
rights and remedies which such holders have been granted at any time under any other agreement or contract and all of the rights
which such holders have under any law. The parties agree that irreparable damage may occur in the event that any of the provisions
of the Transaction Documents were not performed in accordance with their specific terms or were otherwise breached and that monetary
damages may not be adequate compensation for any loss incurred by the Buyers or NeuBase by reason of any breach of any such provisions.

 

(m)            Independent
Nature of Buyers’ Obligations and Rights. The obligations of each Buyer under any Transaction Document are several and
not joint with the obligations of any other Buyer, and no Buyer shall be responsible in any way for the performance of the obligations
of any other Buyer under any Transaction Document. Nothing contained herein or in any other Transaction Document, and no action
taken by any Buyer pursuant hereto or thereto, shall be deemed to constitute the Buyers as, and NeuBase acknowledges that the Buyers
do not so constitute, a partnership, an association, a joint venture or any other kind of entity, or create a presumption that
the Buyers are in any way acting in concert or as a group, and NeuBase shall not assert any such claim with respect to such obligations
or the transactions contemplated by the Transaction Documents and NeuBase acknowledges that the Buyers are not acting in concert
or as a group with respect to such obligations or the transactions contemplated by the Transaction Documents. NeuBase acknowledges
and each Buyer confirms that it has independently participated in the negotiation of the transaction contemplated hereby with the
advice of its own counsel and advisors. Each Buyer shall be entitled to independently protect and enforce its rights, including,
without limitation, the rights arising out of this Agreement or out of any other Transaction Documents, and it shall not be necessary
for any other Buyer to be joined as an additional party in any proceeding for such purpose.

 

(n)             Waiver
of Conflicts. Each Buyer acknowledges that: (a) it has read this Agreement; (b) it has been represented in the preparation,
negotiation and execution of this Agreement by legal counsel of its own choice or has voluntarily declined to seek such counsel;
and (c) it understands the terms and consequences of this Agreement and is fully aware of the legal and binding effect of this
Agreement. Each Buyer understands that NeuBase has been represented in the preparation, negotiation and execution of this Agreement
by Paul Hastings LLP and that Paul Hastings LLP now or may in the future represent one or more Buyers or their affiliates in matters
unrelated to the transactions contemplated by this Agreement, including the representation of such Buyers or their affiliates in
matters of a nature similar to those contemplated by this Agreement. NeuBase and each Buyer hereby acknowledge that they have had
an opportunity to ask for and have obtained information relevant to such representation, including disclosure of the reasonably
foreseeable adverse consequences of such representation, and hereby waives any conflict arising out of such representation solely
with respect to the matters contemplated by this Agreement.

 

[Signature Page Follows]

 

    22 

     

    

 

IN WITNESS WHEREOF,
each Buyer and NeuBase have caused their respective signature pages to this Common Stock Purchase Agreement to be duly executed
as of the date first written above.

 

	 	NEUBASE THERAPEUTICS, INC.

 

	 	By:	/s/
                                         Dietrich A. Stephan	 
	 	
         
	Name: Dietrich A. Stephan 

        Title:
  Chief Executive Officer 
	 

 

    23 

     

    

 

	 	BUYER:
	 	 	 	 
	 	Greenlight Capital Qualified, LP 
	 	 	 	 
	 	By:	/s/ Barrett Brown  / Daniel Roitman	 
	 	 	Name: Barrett Brown / Daniel Roitman	 
	 	 	Title:   CFO / COO	 
	 	 	 	 
	 	Greenlight Capital, LP
	 	 	 	 
	 	By:	/s/ Barrett Brown  / Daniel Roitman	 
	 	 	Name: Barrett Brown / Daniel Roitman	 
	 	 	Title:   CFO / COO	 
	 	 	 	 
	 	Greenlight Capital Offshore Partners 
	 	 	 	 
	 	By:	/s/ Barrett Brown  / Daniel Roitman	 
	 	 	Name: Barrett Brown / Daniel Roitman	 
	 	 	Title:   CFO / COO	 
	 	 	 	 
	 	Greenlight Capital Investors LP 
	 	 	 	 
	 	By:	/s/ Barrett Brown  / Daniel Roitman	 
	 	 	Name: Barrett Brown / Daniel Roitman	 
	 	 	Title:   CFO / COO	 
	 	 	 	 
	 	Greenlight Capital Offshore Master Ltd 
	 	 	 	 
	 	By:	/s/ Barrett Brown  / Daniel Roitman	 
	 	 	Name: Barrett Brown / Daniel Roitman	 
	 	 	Title:   CFO / COO	 

 

    24 

     

    

 

SCHEDULE OF BUYERS

 

	(1)	(2)	(3)	(4)
	 	 	 	 
	
        Buyer 
	
        Address 
	
        Number
of Common Shares 
	
        Purchase
Price 

	 	 	 	 
	Greenlight Capital Qualified, LP (“GCQP”)	
        c/o Greenlight Capital, Inc. 

        140 East 45th Street, 24th Floor 

        New York, New York 10017 

        Attention: Chief Operating Officer 
	352,937	$1,147,045.25
	 	 	 	 
	Greenlight Capital, LP (“GCLP”)	
        c/o Greenlight Capital, Inc. 

        140 East 45th Street, 24th Floor 

        New York, New York 10017 

        Attention: Chief Operating Officer 
	64,932	$211,029.00
	 	 	 	 
	Greenlight Capital Offshore Partners (“GCOP”)	
        c/o Greenlight Capital, Inc. 

        140 East 45th Street, 24th Floor 

        New York, New York 10017 

        Attention: Chief Operating Officer 
	539,462	$1,753,251.50
	 	 	 	 
	Greenlight Capital Investors LP (“GCIP”)	
        c/o Greenlight Capital, Inc. 

        140 East 45th Street, 24th Floor 

        New York, New York 10017 

        Attention: Chief Operating Officer 
	275,542	$895,511.50
	 	 	 	 
	Greenlight Capital Offshore Master Ltd (“GCOM”)	
        c/o Greenlight Capital, Inc. 

        140 East 45th Street, 24th Floor 

        New York, New York 10017 

        Attention: Chief Operating Officer 
	305,589	$993,164.25
	TOTAL	 	1,538,462	$5,000,002
	 	 	 	 

    25 

     

    

 

EXHIBITS

 

	Exhibit A	Form of Secretary’s Certificate
	Exhibit B	Form of Officer’s Certificate
	Exhibit C	Schedule of Exceptions

 

    26 

     

    

 

EXHIBIT A

 

Form of Secretary’s Certificate

 

[See attached]

 

     Exhibit A

     

    

 

EXHIBIT A

 

NeuBase
THERAPEUTICS, INC.

SECRETARY’S CERTIFICATE

 

The undersigned hereby
certifies that he is the duly elected, qualified and acting President, Chief Executive Officer and Secretary of NeuBase Therapeutics,
Inc., a Delaware corporation (the “Company”), and that as such he is authorized to execute and deliver this
certificate in the name and on behalf of the Company and in connection with the Common Stock Purchase Agreement, dated as of July
12, 2019, by and among the Company and the investors listed on the Schedule of Buyers attached thereto (as may be amended or restated
from time to time, the “Purchase Agreement”), and further certifies in his official capacity, in the name and
on behalf of the Company, the items set forth below. Capitalized terms used but not otherwise defined herein shall have the meanings
set forth in the Purchase Agreement.

 

		1.	Attached hereto as Exhibit A are true, correct and complete copy of the unanimous written
consent of the Board of Directors of the Company, dated July 12, 2019. The resolutions contained in Exhibit A have not in
any way been amended, modified, revoked or rescinded, have been in full force and effect since their adoption to and including
the date hereof and are now in full force and effect.

 

		2.	Attached hereto as Exhibit B is a true, correct and complete copy of the Certificate of
Incorporation, together with any and all amendments thereto, and no action has been taken to further amend, modify or repeal such
Certificate of Incorporation, the same being in full force and effect in the attached form as of the date hereof.

 

		3.	Attached hereto as Exhibit C is a true, correct and complete copy of the Bylaws and any
and all amendments thereto, and no action has been taken to further amend, modify or repeal such Bylaws, the same being in full
force and effect in the attached form as of the date hereof.

 

		4.	Each person listed below has been duly elected or appointed to the position(s) indicated opposite
his name and is duly authorized to sign the Purchase Agreement and each of the Transaction Documents on behalf of the Company,
and the signature appearing opposite such person’s name below is such person’s genuine signature.

 

	Name	Position	
        Signature

         

	Dietrich A. Stephan, Ph.D.	
        President, Chief Executive Officer and Secretary

         

         
	_________________________

 

     Exhibit A

     

    

 

EXHIBIT A

 

IN WITNESS WHEREOF,
the undersigned has hereunto set his hand as of this _______ day of July, 2019. 

	 	 	 	 
	 	
         
	Dietrich A. Stephan, Ph.D.

        Secretary 
	 

  

I, Dietrich A. Stephan,
Ph.D., Chief Executive Officer, hereby certify that Dr. Dietrich A. Stephan, Ph.D. is the duly elected, qualified and acting Secretary
of the Company and that the signature set forth above is his true signature.

 

	 	 	 	 
	 	
         
	Dietrich A. Stephan, Ph.D.

        Chief Executive Officer 
	 

  

     Exhibit A

     

    

 

EXHIBIT A

 

Resolutions

 

Exhibit A to Secretary’s Certificate

 

(See Attached)

 

     Exhibit A

     

    

 

EXHIBIT A

 

Certificate of Incorporation

 

Exhibit B to Secretary’s Certificate

 

(See Attached)

 

     Exhibit A

     

    

 

EXHIBIT A

 

Bylaws

 

Exhibit C to Secretary’s Certificate

 

(See Attached)

 

     Exhibit A

     

    

 

EXHIBIT B

 

Form of Officer’s Certificate

 

[See attached]

 

     Exhibit B

     

    

 

EXHIBIT B

 

NEUBASE THERAPEUTICS, INC.

 

OFFICER’S CERTIFICATE

 

The undersigned Chief
Executive Officer of NeuBase Therapeutics, Inc., a Delaware corporation (the “Company”), hereby represents,
warrants and certifies to the Buyers (as defined below), pursuant to Section 6(iv) of the Purchase Agreement (as defined below),
as follows:

 

		1.	The representations and warranties of the Company set forth in Section 3 of the Common Stock Purchase
Agreement, dated as of July 12, 2019 (as may be amended or restated from time to time, the “Purchase Agreement”),
by and among the Company and the investors identified on the Schedule of Buyers attached to the Purchase Agreement (the “Buyers”),
are true and correct in all respects as of the date when made and as of the date hereof (except for representations and warranties
that speak as of a specific date, which are true and correct as of such specified date).

 

		2.	The Company has performed, satisfied and complied in all respects with the covenants, agreements
and conditions required by the Transaction Documents (as defined in the Purchase Agreement) to be performed, satisfied and complied
with by the Company as of the date hereof.

 

Capitalized terms used
but not otherwise defined herein shall have the meaning set forth in the Purchase Agreement.

 

IN WITNESS WHEREOF,
the undersigned has executed this certificate this _______ day of July, 2019.

 

	 	By:	 	 
	 	
        Name:
	Dietrich A. Stephan, Ph.D.

        
	 
	 	Title:	President, Chief Executive Officer and Secretary	 

 

     Exhibit B

     

    

 

EXHIBIT C

 

Schedule of Exceptions

 

[See attached]

 

     Exhibit C

     

    

 

Schedule
OF EXCEPTIONS  

TO

COMMON
STOCK PURCHASE AGREEMENT

 

This Schedule of Exceptions,
dated as of July 12, 2019 (this “Disclosure Schedule”), relates to the Common Stock Purchase Agreement, dated
as of July 12, 2019 (the “Agreement”), by and among NeuBase Therapeutics, Inc., and each of the investors listed
on the Schedule of Buyers attached to the Agreement. All capitalized terms used but not otherwise defined in this Disclosure Schedule
have the meanings set forth in the Agreement, unless otherwise indicated.

 

For purposes of this
Disclosure Schedule, the “Company” means NeuBase Therapeutics, Inc. (previously named Ohr Pharmaceutical, Inc.),
a Delaware corporation with shares of common stock registered with the Securities and Exchange Commission under the Securities
Exchange Act of 1934, as amended, after giving effect to the merger (the “Merger”) of Ohr Acquisition Corp.,
a Delaware corporation and a wholly-owned subsidiary of the Company, with and into NeuBase Therapeutics, Inc., a privately-held
Delaware corporation that became a wholly owned subsidiary of the Company pursuant to such merger (“NeuBase Subsidiary”).
The Company was renamed from “Ohr Pharmaceutical, Inc.” to “NeuBase Therapeutics, Inc.” in connection with
the Merger.

 

This Disclosure Schedule
is subject to the following terms and conditions:

 

		1.	The parties agree that any reference in a particular Section of this Disclosure Schedule shall
be deemed to be an exception to (or, as applicable, a disclosure for purposes of) the representations and warranties (or covenants,
as applicable) of Company that are contained in the corresponding Section of the Agreement and any other representations and warranties
of such party that is contained in the Agreement to which the relevance of such item thereto is reasonably apparent on its face.

 

		2.	Company has or may have set forth information in this Disclosure Schedule in a Section hereof that
corresponds to the Section of the Agreement to which it relates. The fact that any item of information is disclosed in this Disclosure
Schedule shall not be construed to mean that such information is required to be disclosed by the Agreement.

 

		3.	The mere inclusion of an item by Company in this Disclosure Schedule as an exception to (or, as
applicable, a disclosure for purposes of) a representation or warranty shall not be deemed an admission that (a) such item represents
a material exception or material fact, event or circumstance or that such item has had or would reasonably be expected to have,
with respect to Company, a Material Adverse Effect, or (b) such information (or any non-disclosed information of comparable or
greater significance) is required to be disclosed by the terms of the Agreement or is material to the business, results of operations
or financial condition of Company.

 

		4.	The introductory language and headings to each Section of this Disclosure Schedule are inserted
for convenience only and shall not affect in any way the meaning or interpretation of the Agreement.

 

    1 

     

    

 

		5.	Any summary or description of any law, regulation, contract, agreement, plan, document or other
disclosure item contained in this Disclosure Schedule, including any term or provision of the Agreement, is for convenience only
and does not purport to be a complete statement of the material terms of such law, regulation, contract, agreement, plan, document
or other disclosure item, and any such summary or description is qualified in its entirety by the actual language, terms and provisions
of such law, regulation, contract, agreement, plan, document or other disclosure item.

 

    2 

     

    

 

Part 3(b)

 

Authorization; Enforcement; Validity

 

None.

 

    3 

     

    

 

Part 3(c)

 

Issuance of Common Shares

 

None.

 

    4 

     

    

 

Part 3(d)

 

No Conflicts

 

None.

 

    5 

     

    

 

Part 3(e) 

Consents

 

None.

 

    6 

     

    

 

Part 3(l)

Absence of Certain Changes

 

Part 3(l)(i) 

None. 

Part 3(l)(ii) 

		1.	Pursuant to the CMU License Agreement, NeuBase Subsidiary issued an aggregate of 820,000 shares
of Common Stock to Carnegie Mellon University, which shares were exchanged for Company shares of common stock pursuant to the Merger.

 

		2.	Pursuant to the Merger, NeuBase Subsidiary became a wholly-owned subsidiary of the Company.

 

    7 

     

    

 

Part 3(n)

Conduct of Business; Regulatory Permits

 

None.

 

    8 

     

    

 

Part 3(p)

Transactions with Affiliates

 

		1.	Restricted Stock Purchase Agreement, by and between NeuBase Subsidiary and Dietrich A. Stephan
dated as of September 6, 2018, as amended by that certain Amendment to Restricted Stock Purchase Agreement, dated December 26,
2018.

 

		2.	Agreement to be Bound, by and between NeuBase Subsidiary and Lipizzaner LLC, dated as of December
26, 2018, pursuant to which Lipizzaner LLC agreed to be bound to that certain Restricted Stock Purchase Agreement, by and between
NeuBase Subsidiary and Dietrich Stephan, dated as of September 6, 2018.

 

		3.	Executive Employment Agreement, by and between NeuBase Subsidiary and Dietrich Stephan, dated as
of December 22, 2018, effective as of August 28, 2018.

 

		4.	Stock Option Agreement, by and between NeuBase Subsidiary and Dietrich Stephan, dated December
31, 2018.

 

		5.	Indemnification Agreement, by and between NeuBase Subsidiary and Dietrich Stephan, dated as of
August 28, 2018.

 

		6.	Restricted Stock Purchase Agreement, by and between NeuBase Subsidiary and Shivaji Thadke dated
as of September 6, 2018, as amended by that certain Amendment to Restricted Stock Purchase Agreement, dated December 22, 2018.

 

		7.	Indemnification Agreement, by and between NeuBase Subsidiary and Shivaji Thadke, dated as of August
28, 2018.

 

    9 

     

    

 

Part 3(r)

 

Indebtedness and Other Contracts

 

The CMU License Agreement.

 

    10 

     

    

 

Part 3(s)

 

Absence of Litigation

 

		1.	On March 20, 2019, a putative class action lawsuit was filed in the United States District Court
for District of Delaware asserting similar claims under Section 14(a) and Section 20(a) and naming as defendants the Company, NeuBase
Subsidiary and Ohr Acquisition Corp., captioned Wheby v. Ohr Pharmaceutical, Inc., et al., Case No. 1:19-cv-00541-UNA.

 

    11 

     

    

 

Part 3(v)

 

Intellectual Property Rights

 

None.

 

    12 

     

    

 

Part 3(gg)

 

Disclosure Controls

 

The consummation of the Merger may affect the ongoing disclosure
controls and internal control over financial reporting of the Company, primarily as a result of changes in the human resources
of the Company.

 

    13

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