Document:

Exhibit 10.2

 

THE
SECURITIES REPRESENTED HEREBY, INCLUDING THE SHARES ISSUABLE UPON EXERCISE HEREOF, HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED (THE “ACT”), OR ANY STATE SECURITIES LAWS AND NEITHER THE SECURITIES NOR ANY INTEREST THEREIN
MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER
SUCH ACT OR SUCH LAWS OR AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT AND SUCH LAWS WHICH, IN THE OPINION OF COUNSEL FOR THE
ISSUER, IS AVAILABLE.

 

SERIES
B WARRANT AGREEMENT

 

No.

 

REDWOOD
SCIENTIFIC TECHNOLOGIES, INC.

 

This
Warrant Agreement (this “Agreement”) is dated as of January [  ], 2016 (the “Issue Date”)
and entered into by and between Redwood Scientific Technologies, Inc., a company organized under the laws of State of Nevada (the
“Company”) and ________________, (together with its successors and assigns, the “Warrant Holder”).

 

WHEREAS,
the Company and the Warrant Holder entered into that certain Unit Purchase Agreement of even date herewith (the “Purchase
Agreement”), pursuant to which, the Warrant Holder, together with the other Purchasers agreed to purchase certain Securities
of the Company, including the Warrants evidenced by this Agreement; and

 

WHEREAS,
all of the terms and conditions of such Purchase Agreement are incorporated herein by this reference, and all capitalized terms
not separately defined in this Warrant, shall have the same meanings as defined in the Purchase Agreement.

 

NOW,
THEREFORE, in consideration of the mutual covenants set forth in this Agreement and for other good and valuable consideration,
the parties agree as follows:

 

1.          Grant
of Warrant. The Company hereby, upon the terms and subject
to the conditions of this Agreement, issues to the Warrant Holder a warrant (the “Warrant”) evidenced by this
Agreement to purchase up to _______1_ shares of Common Stock (the shares of Common Stock issuable to the Warrant Holder
hereunder (as such amount may be adjusted pursuant to the terms hereof), the “Warrant Shares”) at an exercise
price of $2.75 per whole share (as such amount may be adjusted pursuant to the terms hereof, the “Exercise Price”).
The Exercise Price and the number of Warrant Shares for which the Warrant are exercisable shall be subject to adjustment as described
in Section 6.

 

2.          Term
and Termination of Warrant. The Warrant shall terminate
on the third (3rd) anniversary of the Issue Date (the “Expiration Date”).

 

 

1
The number of Warrant Shares shall be initially equal to one-half (1/2) of the number of shares of Common Stock underlying
the Unit issuable to the Warrant Holder of even date herewith.

 

     

    

    

 

3.            Exercise
of the Warrant.

 

(a)          Exercise
and Payment. The purchase rights represented by the Warrant may be exercised in round lots only by the Warrant Holder, in
whole or in part at any time following the Issue Date during the period prior to the Expiration Date, by the surrender of the
Warrant (together with a duly executed notice of exercise in the form attached hereto as Exhibit A (the “Exercise
Notice”) at the principal office of the Company, and by the payment to the Company, at the option of the Warrant Holder
by:

 

(i)          wire
transfer of immediately available funds, of an amount equal to (A) the number of shares of Common Stock being purchased upon exercise
of the Warrant multiplied by (B) the then current Exercise Price (the “Warrant Price”);

 

(ii)          in
whole or in part, at such time by means of a “cashless exercise, which shall mean an exercise of a Warrant in accordance
with the immediately following three sentences. To effect a Cashless Exercise, the holder of a Warrant may exercise a Warrant
or Warrants without payment of the Exercise Price in cash by surrendering such Warrant or Warrants and, in exchange therefor,
receiving such number of shares of Common Stock equal to the product of (1) that number of shares of Common Stock for which such
Warrants are exercisable and which would be issuable in the event of an exercise with payment in cash of the Exercise Price and
(2) the Cashless Exercise Ratio (as defined below). The “Cashless Exercise Ratio” shall equal a fraction, the numerator
of which is the excess of the Fair Market Value per share of the Common Stock, as applicable, on the date of exercise over the
Exercise Price per share of Common Stock as of the date of exercise and the denominator of which is the Fair Market Value per
share of the Common Stock, as applicable, on the date of exercise; or

 

(iii)          any
combination thereof.

 

For
purposes of this Agreement, “Fair Market Value” of a share as of a particular date shall mean: (A) if the Common
Stock is traded on an exchange or the over-the-counter market or otherwise quoted or reported on a national exchange, the average
reported closing price for the five (5) trading days prior to the date of determination of fair market value, (B) if conversion
or exercise is simultaneous with an underwritten public offering of Common Stock registered under the Act, then the initial public
offering price (before deducting commissions, discounts or expenses) per share sold in such offer, and (C) otherwise that price
determined in good faith and in such reasonable manner as prescribed by an independent investment banker who is a member of FINRA
and is reasonably acceptable to the Company.

 

(b)          Redemption
of the Warrant. In the event and to the extent that (i) the Warrants Shares are registered for resale under the
Securities Act pursuant to an effective registration statement or all of the Warrant Shares may be immediately resold by the
Holder without any volume limitations or other restrictions under applicable provisions of Rule 144, as promulgated under the
Securities Act, (ii) the Closing Sale Price exceeds 200% of the Exercise Price for any twenty (20) consecutive Trading Day
period (the “Redemption Period”), and (iii) the average daily trading volume exceeds 50,000 shares per day
during the Redemption Period, then and in such event the Company may elect to redeem and repurchase this Warrant and all
other unexercised Series B Warrants issued pursuant to the Purchase Agreement, for $0.01 per share, on a date (the
“Warrant Redemption Date”) which shall be thirty (30) business days following the date of written notice
of the Company’s intention to redeem all Series B Warrants that is given to the Holder and other holders of Series B
Warrants (the “Redemption Notice”); provided, that the Holder and any one or more other holders of Series
B Warrants may elect to exercise such Series B Warrants prior to the Warrant Redemption Date.

 

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(c)          Warrant
Shares. On or before the first (1st) Trading Day following the date on which the Company has received an Exercise
Notice, the Company shall transmit by facsimile an acknowledgment of confirmation of receipt of such Exercise Notice to the Holder
and the Company’s transfer agent (the “Transfer Agent”). On or before the third (3rd) Trading
Day following the date on which the Company has received such Exercise Notice, so long as the Holder delivers the Aggregate Exercise
Price (or elects a Cashless Exercise) on or prior to the second (2nd) Trading Day following the date on which the Company
has received such Exercise Notice, the Company shall (X) provided that the Transfer Agent is participating in The Depository Trust
Company (“DTC”) Fast Automated Securities Transfer Program, upon the request of the Holder, credit such aggregate
number of shares of Common Stock to which the Holder is entitled pursuant to such exercise to the Holder’s or its designee’s
balance account with DTC through its Deposit/ Withdrawal at Custodian system, or (Y) if the Transfer Agent is not participating
in the DTC Fast Automated Securities Transfer Program, issue and deliver to the Holder or, at the Holder’s instruction pursuant
to the Exercise Notice, the Holder’s agent or designee, in each case, sent by reputable overnight courier to the address
as specified in the applicable Exercise Notice, a certificate, registered in the Company’s share register in the name of
the Holder or its designee (as indicated in the applicable Exercise Notice), for the number of shares of Common Stock to which
the Holder is entitled pursuant to such exercise. The Company shall be responsible for all fees and expenses of the Transfer Agent
and all fees and expenses with respect to the issuance of shares of Common Stock via DTC, if any. Upon delivery of an Exercise
Notice, the Holder shall be deemed for all corporate purposes to have become the holder of record of the Warrant Shares with respect
to which this Warrant has been exercised, irrespective of the date such Warrant Shares are credited to the Holder’s DTC
account or the date of delivery of the certificates evidencing such Warrant Shares (as the case may be). If this Warrant is submitted
in connection with any exercise pursuant to this Section 3(c) and the number of Warrant Shares represented by this Warrant submitted
for exercise is greater than the number of Warrant Shares being acquired upon an exercise, then, at the request of the Holder,
the Company shall as soon as practicable and in no event later than three (3) Business Days after any exercise and at its own
expense, issue and deliver to the Holder (or its designee) a new Warrant (in accordance with Section 11(d)) representing the right
to purchase the number of Warrant Shares purchasable immediately prior to such exercise under this Warrant, less the number of
Warrant Shares with respect to which this Warrant is exercised. No fractional shares of Common Stock are to be issued upon the
exercise of this Warrant, but rather the number of shares of Common Stock to be issued shall be rounded up to the nearest whole
number. The Company shall pay any and all taxes and fees which may be payable with respect to the issuance and delivery of Warrant
Shares upon exercise of this Warrant. Following the exercise in full of this Warrant, the Holder shall deliver this original Warrant
certificate to the Company.

 

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(d)          Company’s
Failure to Timely Deliver Securities. If the Company shall fail for any reason or for no reason to issue to the Warrant Holder
within five (5) Trading Days of receipt of the Exercise Notice so long as the Warrant Holder delivers the Aggregate Exercise Price
(or notice of a Cashless Exercise) on or prior to the second (2nd) Trading Day following the date on which the Company
has received the Exercise Notice, a certificate for the number of shares of Common Stock to which the Warrant Holder is entitled
and register such shares of Common Stock on the Company’s share register or to credit the Warrant Holder’s balance
account with DTC for such number of shares of Common Stock to which the Warrant Holder is entitled upon the Warrant Holder’s
exercise of this Warrant, then, in addition to all other remedies available to the Warrant Holder, the Company shall pay in cash
to the Warrant Holder on each day after such fifth (5th) Trading Day that the issuance of such shares of Common Stock
is not timely effected an amount equal to 0.25% of the product of (A) the sum of the number of shares of Common Stock not issued
to the Warrant Holder on a timely basis and to which the Warrant Holder is entitled and (B) the Closing Sale Price of the Common
Stock on the Trading Day immediately preceding the last possible date which the Company could have issued such shares of Common
Stock to the Warrant Holder. In addition to the foregoing, if within five (5)Trading Days after the Company’s receipt of
an Exercise Notice (whether via facsimile or otherwise) the Company shall fail to issue and deliver a certificate to the Warrant
Holder and register such shares of Common Stock on the Company’s share register or credit the Warrant Holder’s balance
account with DTC for the number of shares of Common Stock to which the Warrant Holder is entitled upon the Warrant Holder’s
exercise hereunder or pursuant to the Company’s obligation pursuant to clause (ii) below, and if on or after such Trading
Day the Warrant Holder purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction
of a sale by the Warrant Holder of shares of Common Stock issuable upon such exercise that the Warrant Holder anticipated receiving
from the Company, then the Company shall, within five (5) Trading Days after the Warrant Holder’s request and in the Warrant
Holder’s discretion, either (i) pay cash to the Warrant Holder in an amount equal to the Warrant Holder’s total purchase
price (including brokerage commissions and other reasonable out-of-pocket expenses, if any) for the shares of Common Stock so
purchased (the “Buy-In Price”), at which point the Company’s obligation to deliver such certificate (and
to issue such shares of Common Stock) or credit such Warrant Holder’s balance account with DTC shall terminate, or (ii)
promptly honor its obligation to deliver to the Warrant Holder a certificate or certificates representing such shares of Common
Stock or credit such Warrant Holder’s balance account with DTC and pay cash to the Warrant Holder in an amount equal to
the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Common Stock, times (B) the Closing Bid
Price on the date of exercise. Nothing shall limit the Warrant Holder’s right to pursue any other remedies available to
it hereunder, at law or in equity, including, without limitation, a decree of specific performance and/or injunctive relief with
respect to the Company’s failure to timely deliver certificates representing shares of Common Stock (or to electronically
deliver such shares of Common Stock) upon the exercise of this Warrant as required pursuant to the terms hereof.

 

(e)          Fractional
Warrant Shares. No fractional Warrant Shares will be issued in connection with any exercise hereunder. In lieu of such fractional
shares, the number of shares of Common Stock to be issued shall be rounded up to the nearest whole number.

 

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(f)          Intentionally
Left Blank.

 

(g)         Legend.
The Warrant Shares to be acquired by the Holder pursuant hereto, may not be sold or transferred unless (A) such shares are
sold pursuant to an effective registration statement under the Securities Act, or (B) the Company or its transfer agent shall
have been furnished with an opinion of counsel (which opinion shall be in form, substance and scope customary for opinions of
counsel in comparable transactions and from an attorney who regularly practices securities law) to the effect that the shares
to be sold or transferred may be sold or transferred pursuant to an exemption from such registration or (C) such shares are
sold or transferred pursuant to Rule 144 under the Securities Act (or a successor rule) (“Rule 144”) or (D)
such shares are sold or transferred outside the United States in accordance with Rule 904 of Regulation S under the Securities
Act, or (E) such shares are transferred to an “affiliate” (as defined in Rule 144) of the Company who agrees to sell
or otherwise transfer the shares only in accordance with this Section 3(g). Except as otherwise provided in this Warrant (and
subject to the removal provisions set forth below), until such time as the Warrant Shares issuable upon exercise of the Warrant
have been registered under the Act, otherwise may be sold pursuant to Rule 144 without any restriction as to the number of securities
as of a particular date that can then be immediately sold, each certificate for Warrant Shares that has not been so included in
an effective registration statement or that has not been sold pursuant to an effective registration statement or an exemption
that permits removal of the legend, shall bear a legend substantially in the following form, as appropriate:

 

THE
SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED. THE HOLDER
HEREOF, BY PURCHASING SUCH SECURITIES, AGREES THAT SUCH SECURITIES MAY BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY
(A) TO THE CORPORATION, (B) OUTSIDE THE UNITED STATES IN ACCORDANCE WITH RULE 904 OF REGULATION S UNDER THE U.S. SECURITIES
ACT, (C) WITHIN THE UNITED STATES AFTER REGISTRATION OR IN ACCORDANCE WITH THE EXEMPTION FROM THE REGISTRATION REQUIREMENTS
UNDER THE U.S. SECURITIES ACT PROVIDED BY RULE 144 THEREUNDER, IF APPLICABLE, AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES
LAWS, OR (D) WITHIN THE UNITED STATES IN A TRANSACTION THAT DOES NOT REQUIRE REGISTRATION UNDER THE U.S. SECURITIES ACT OR
ANY APPLICABLE STATE SECURITIES LAWS AND THE HOLDER HAS PRIOR TO SUCH SALE FURNISHED TO THE CORPORATION AN OPINION OF COUNSEL
REASONABLY SATISFACTORY TO THE CORPORATION.

 

(h)          Removal
of Legend. The legend set forth above shall be removed and the Company shall issue to the Holder a new certificate therefor
free of any transfer legend if (A) the Company shall have received an opinion of counsel, in form, substance and scope customary
for opinions of counsel in comparable transactions, to the effect that a public sale or transfer of such Securities may be made
without registration under the Act and the shares are so sold or transferred, or (B) (C) in the case of the Common Stock issuable
upon exercise of the Warrant, such security is registered for sale by the Holder under an effective registration statement filed
under the Act or otherwise may be sold pursuant to Rule 144 without any restriction as to the number of securities as of a particular
date that can then be immediately sold. The Company shall cause its counsel to issue a legal opinion promptly after the effective
date of any registration statement under the Act registering the resale of the Common Stock issuable upon exercise of the Warrant
if required to effect the removal of the legend hereunder.

 

    	 	5	 

    

    

 

4.            Stock
Fully Paid; Reservation of Warrant Shares.

 

(a)          All
of the Warrant Shares issuable upon the exercise of the Warrant will, upon issuance and receipt of the Warrant Price for such
Warrant Shares, be duly authorized, validly issued, fully paid and nonassessable, and will be free and clear of all taxes, liens,
encumbrances and charges with respect to the issue.

 

(b)          Reservation.
For so long as any of the Warrants are outstanding, the Company shall take all action necessary to reserve and keep available
out of its authorized and unissued Common Stock, solely for the purpose of effecting the exercise of the Warrants, 100% of the
number of shares of Common Stock as shall from time to time be necessary to effect the exercise of all Warrants then outstanding
(the “Required Reserve Amount”).

 

(c)          Insufficient
Authorized Shares. If at any time the Company does not have a sufficient number of authorized and unreserved shares of Common
Stock to satisfy its obligation to reserve for issuance upon exercise of the Warrants at least a number of shares of Common Stock
equal to the Required Reserve Amount (an “Authorized Share Failure”), then the Company shall immediately take
all action necessary to increase the Company’s authorized shares of Common Stock to an amount sufficient to allow the Company
to reserve the Required Reserve Amount for the Warrants then outstanding. Without limiting the generality of the foregoing sentence,
as soon as practicable after the date of the occurrence of an Authorized Share Failure, but in no event later than sixty (60)
days after the occurrence of such Authorized Share Failure, the Company shall either (x) obtain the written consent of its stockholders
for the approval of an increase in the number of authorized shares of Common Stock or (y) hold a special meeting of its stockholders
for the approval of an increase in the number of authorized shares of Common Stock; provided, that if the Company is then
subject to review of any such related documents by the Securities and Exchange Commission, the time frame above shall be extended
by an additional thirty (30) days. In connection with such meeting, the Company shall use its best efforts to solicit its stockholders’
approval of such increase in authorized shares of Common Stock, to cause its Board of Directors to recommend to the stockholders
that they approve such proposal and to cause its management to vote in favor of such proposal.

 

5.            Rights
of the Warrant Holder. The Warrant Holder shall have no
voting rights as a stockholder or rights to dividends or other distributions with respect to Warrant Shares subject to this Agreement
until payment in full of the Warrant Price for Warrant Shares being issued.

 

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6.            Adjustment
of Exercise Price and Number of Warrant Shares. The Exercise
Price and the number of Warrant Shares purchasable upon any exercise of the Warrant shall be subject to adjustment from time to
time upon the occurrence of certain events described in this Section 6 if such events occur while the Warrant is outstanding.

 

(a)          Subdivision
or Combination of Stock; Stock Dividend and Stock Conversion.

 

(i)          In
the event the Company should at any time or from time to time fix a record date for the effectuation of a split or subdivision
of the outstanding shares of Common Stock, or a record date for the determination of the holders of capital stock entitled to
receive a dividend or other distribution payable in Common Stock or other securities or rights directly or indirectly convertible
into or exercisable or exchangeable, or rights that entitle the holders of Common Stock to purchase, Common Stock (such other
securities or rights are hereinafter referred to as “Common Stock Equivalents”), without payment of any consideration
by such holders for the additional Common Stock or the Common Stock Equivalents (including the additional Common Stock issuable
upon conversion or exercise thereof), then, as of such record date (or the date of such dividend distribution, split or subdivision
if no record date is fixed), (y) the Exercise Price of the Warrant Shares shall be appropriately decreased (but not below the
then par value per share of Common Stock), or (z) the number of Warrant Shares shall be increased in proportion to such increase
of outstanding Common Stock and shares of Common Stock issuable with respect to Common Stock Equivalents.

 

(ii)          If
the number of shares of Common Stock outstanding at any time after the Issue Date is decreased by a combination of the outstanding
Common Stock, then, upon the record date of such combination, (A) the Exercise Price shall be appropriately increased, or (B)
the number of Warrant Shares shall be decreased in proportion to such decrease in outstanding Common Stock.

 

(iii)        The
Company will not modify its certificate of incorporation or effect any reorganization, recapitalization, transfer of assets, consolidation,
merger, dissolution, issue or sale of securities in a manner that negates or avoids the rights of the Warrant Holder to exercise
its rights hereunder, but will at all times assist in the carrying out of all the provisions of this Agreement and in the taking
of all such actions as may be necessary or appropriate in order to protect the Warrant Holder against impairment.

 

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(b)          Adjustment
Upon Issuance of Shares of Common Stock. If and whenever on or after the Issue Date, the Company issues or sells, or in accordance
with this Section 6 is deemed to have issued or sold, any shares of Common Stock (including the issuance or sale of shares of
Common Stock owned or held by or for the account of the Company, but excluding any Excluded Securities issued or sold or deemed
to have been issued or sold and otherwise than as provided in Section 6(a) or pursuant to (X) Common Stock Equivalents granted
or issued prior to the Issue Date or (Y) subsection (i) and (ii) below) (“Additional Shares of Common Stock”)
for a consideration per share that is less than a price equal to the Exercise Price in effect immediately prior
to such issue or sale or deemed issuance or sale (the “Applicable Exercise Price”) (the foregoing, a “Dilutive
Issuance”), then immediately following such Dilutive Issuance, the Applicable Exercise Price then in effect shall be
reduced to that price (rounded to the nearest cent) determined by multiplying the Exercise Price by a fraction: (1) the numerator
of which shall be equal to the sum of (A) the number of shares of Outstanding Common Stock immediately prior to the issuance
of such Additional Shares of Common Stock plus (B) the number of shares of Common Stock (rounded to the nearest whole share)
which the aggregate consideration for the total number of such Additional Shares of Common Stock so issued would purchase at a
price per share equal to the outstanding Exercise Price in effect immediately prior to such issuance; and (2) the denominator
of which shall be equal to the number of shares of Outstanding Common Stock immediately after the issuance of such Additional
Shares of Common Stock; provided that only one adjustment will be made for each Dilutive Issuance. No adjustment to the Exercise
Price shall have the effect of increasing the Exercise Price above the Exercise Price in effect immediately prior to such adjustment
For all purposes of the foregoing (including, without limitation, determining the reduced Exercise Price and consideration per
share under this Section 6(b)), the following shall be applicable:

 

(i)          Issuance
of Options. If the Company in any manner grants any Options and the lowest price per share for which one share of Common Stock
is issuable upon the exercise of any such Option or upon conversion, exercise or exchange of any Common Stock Equivalents issuable
upon exercise of any such Option is less than the Applicable Exercise Price, then such share of Common Stock shall be deemed to
be outstanding and to have been issued and sold by the Company at the time of the granting or sale of such Option for such price
per share. For purposes of this Section 6(b)(i), the “lowest price per share for which one share of Common Stock is issuable
upon exercise of such Options or upon conversion, exercise or exchange of such Common Stock Equivalents issuable upon exercise
of any such Option” shall be equal to the sum of the lowest amounts of consideration (if any) received or receivable by
the Company with respect to any one share of Common Stock upon the granting or sale of the Option, upon exercise of the Option
and upon conversion, exercise or exchange of any Convertible Security issuable upon exercise of such Option less any consideration
paid or payable by the Company with respect to such one share of Common Stock upon the granting or sale of such Option, upon exercise
of such Option and upon conversion exercise or exchange of any Convertible Security issuable upon exercise of such Option. No
further adjustment of the Exercise Price or number of Warrant Shares shall be made upon the actual issuance of such shares of
Common Stock or of such Common Stock Equivalents upon the exercise of such Options or upon the actual issuance of such shares
of Common Stock upon conversion, exercise or exchange of such Common Stock Equivalents.

 

(ii)         Issuance
of Common Stock Equivalents. If the Company in any manner issues or sells any Common Stock Equivalents and the lowest price
per share for which one share of Common Stock is issuable upon the conversion, exercise or exchange thereof is less than the Applicable
Exercise Price, then such share of Common Stock shall be deemed to be outstanding and to have been issued and sold by the Company
at the time of the issuance or sale of such Common Stock Equivalents for such price per share. For the purposes of this Section
6(b)(ii), the “lowest price per share for which one share of Common Stock is issuable upon the conversion, exercise or exchange
thereof” shall be equal to the sum of the lowest amounts of consideration (if any) received or receivable by the Company
with respect to one share of Common Stock upon the issuance or sale of the Convertible Security and upon conversion, exercise
or exchange of such Convertible Security less any consideration paid or payable by the Company with respect to such one share
of Common Stock upon the issuance or sale of such Convertible Security and upon conversion, exercise or exchange of such Convertible
Security. No further adjustment of the Exercise Price or number of Warrant Shares shall be made upon the actual issuance of such
shares of Common Stock upon conversion, exercise or exchange of such Common Stock Equivalents, and if any such issue or sale of
such Common Stock Equivalents is made upon exercise of any Options for which adjustment of this Warrant has been or is to be made
pursuant to other provisions of this Section 6(b), no further adjustment of the Exercise Price or number of Warrant Shares shall
be made by reason of such issue or sale.

 

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(iii)        Change
in Option Price or Rate of Conversion. If the purchase price provided for in any Options, the additional consideration, if
any, payable upon the issue, conversion, exercise or exchange of any Common Stock Equivalents, or the rate at which any Common
Stock Equivalents are convertible into or exercisable or exchangeable for shares of Common Stock increases or decreases at any
time, the Exercise Price and the number of Warrant Shares in effect at the time of such increase or decrease shall be adjusted
to the Exercise Price and the number of Warrant Shares which would have been in effect at such time had such Options or Common
Stock Equivalents provided for such increased or decreased purchase price, additional consideration or increased or decreased
conversion rate, as the case may be, at the time initially granted, issued or sold. For purposes of this Section 6(b)(iii), if
the terms of any Option or Convertible Security that was outstanding as of the date of issuance of this Warrant are increased
or decreased in the manner described in the immediately preceding sentence, then such Option or Convertible Security and the shares
of Common Stock deemed issuable upon exercise, conversion or exchange thereof shall be deemed to have been issued as of the date
of such increase or decrease. No adjustment pursuant to this Section 6(b) shall be made if such adjustment would result in an
increase of the Exercise Price then in effect or a decrease in the number of Warrant Shares.

 

(iv)        Calculation
of Consideration Received. In case any Option is issued in connection with the issue or sale of other securities of the Company,
together comprising one integrated transaction, (x) the Options will be deemed to have been issued for the exercise price of such
Options and (y) the other securities issued or sold in such integrated transaction shall be deemed to have been issued for the
aggregate consideration received by the Company. If any shares of Common Stock, Options or Common Stock Equivalents are issued
or sold or deemed to have been issued or sold for cash, the consideration received therefor will be deemed to be the net amount
received by the Company therefor. If any shares of Common Stock, Options or Common Stock Equivalents are issued or sold for a
consideration other than cash, the amount of such consideration received by the Company will be the fair value of such consideration,
except where such consideration consists of securities, in which case the amount of consideration received by the Company will
be the Closing Sale Price of such security on the date of receipt. If any shares of Common Stock, Options or Common Stock Equivalents
are issued to the owners of the non-surviving entity in connection with any merger in which the Company is the surviving entity,
the amount of consideration therefor will be deemed to be the fair value of such portion of the net assets and business of the
non-surviving entity as is attributable to such shares of Common Stock, Options or Common Stock Equivalents, as the case may be.
The fair value of any consideration other than cash or securities will be determined jointly by the Company and the Required Holders.
If such parties are unable to reach agreement within ten (10) days after the occurrence of an event requiring valuation (the “Valuation
Event”), the fair value of such consideration will be determined within five (5) Trading Days after the tenth (10th)
day following the Valuation Event by an independent, reputable appraiser jointly selected by the Company and the Required Holders.
The determination of such appraiser shall be final and binding upon all parties absent manifest error and the fees and expenses
of such appraiser shall be borne by the Company.

 

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(v)         Record
Date. If the Company takes a record of the holders of shares of Common Stock for the purpose of entitling them (A) to
receive a dividend or other distribution payable in shares of Common Stock, Options or in Common Stock Equivalents or (B) to
subscribe for or purchase shares of Common Stock, Options or Common Stock Equivalents, then such record date will be deemed to
be the date of the issue or sale of the shares of Common Stock deemed to have been issued or sold upon the declaration of such
dividend or the making of such other distribution or the date of the granting of such right of subscription or purchase, as the
case may be.

 

(vi)        Exceptions
to Adjustment of Conversion Price.  No adjustment to the Exercise Price will be made (i) upon the issuance
of shares of Common Stock or options or warrants to purchase Common Stock to directors, officers, consultants or employees of
the Company in their capacity as such pursuant to any stock or option plan duly adopted by the Board of Directors of the Company,
which plan does not exceed 250,000 shares in the aggregate (an “Approved Stock Plan”), provided that the exercise
price of any such options is not lowered, none of such options are amended to increase the number of shares issuable thereunder
and none of the terms or conditions of any such options are otherwise materially changed in any manner that adversely affects
the Warrant Holder or any of the holders of the other Series B Warrants issued pursuant to the Purchase Agreement (the “Other
Holders”); (ii) shares of Common Stock issued upon the conversion or exercise of Common Stock Equivalents (other than
standard options to purchase Common Stock issued pursuant to an Approved Stock Plan that are covered by clause (i) above) issued
and outstanding on or prior to the Issue Date, provided that the conversion or exercise (as the case may be) of any such Convertible
Security is made solely pursuant to the conversion or exercise (as the case may be) provisions of such Convertible Security that
were in effect on the date immediately prior to the Issue Date, the conversion or exercise price of any such Common Stock Equivalents
(other than standard options to purchase Common Stock issued pursuant to an Approved Stock Plan that are covered by clause (i)
above) is not lowered, none of such Common Stock Equivalents are (other than standard options to purchase Common Stock issued
pursuant to an Approved Stock Plan that are covered by clause (i) above) (nor is any provision of any such Common Stock Equivalents)
amended or waived in any manner (whether by the Company or the holder thereof) to increase the number of shares issuable thereunder
and none of the terms or conditions of any such Common Stock Equivalents (other than standard options to purchase Common Stock
issued pursuant to an Approved Stock Plan that are covered by clause (i) above) are otherwise materially changed or waived (whether
by the Company or the holder thereof) in any manner that adversely affects the Warrant Holder or any of the Other Holders; (iii)
upon the issuance of the shares of Common Stock underlying the Bridge Notes and Bridge Warrants issued pursuant to the Bridge
Financing (as defined below); (iv) upon the issuance of shares of Common Stock as a result of any bonus, interest, make good provision
or penalty issuable or payable pursuant to the terms of the Bridge Notes or the purchase agreement pursuant to which such notes
were issued;(v) upon the issuance of any Make Good Shares; (vi) upon the issuance of Warrant Shares issued pursuant to the Purchase
Agreement; (vii) upon the issuance of any warrants to the Placement Agent as compensation for the Offering and the issuance of
any shares of common stock underlying such warrants; (viii) upon the issuance of any shares of common stock underlying the warrants
issued to the Placement Agent pursuant to the Bridge Financing and (ix) upon the Company’s issuance of securities in connection
with mergers, acquisitions, strategic license agreements and other partnering arrangements, including any such agreements in effect
as of the Issuance Date, so long as such issuances are not for the purpose of raising capital and in which holders of such securities
or debt are not at any time granted registration rights. Notwithstanding the foregoing, any Common Stock issued or issuable to
raise capital for the Company or its Subsidiaries, directly or indirectly, in connection with any transaction contemplated by
clause (vii) above, including, without limitation, securities issued in one or more related transactions or that result in similar
economic consequences, shall not constitute Excluded Securities.

 

    	 	10	 

    

    

 

(c)          Notice
of Adjustment. Promptly after adjustment of the Exercise Price or any increase or decrease in the number of shares purchasable
upon the exercise of the Warrant, the Company shall give written notice in accordance with Section 20. The notice shall
be signed by an authorized officer of the Company and shall state the effective date of the adjustment and the Exercise Price
resulting from such adjustment and the increase or decrease, if any, in the number of shares purchasable at such price upon any
exercise of the Warrant, setting forth in reasonable detail the method of calculation and the facts upon which such calculation
is based.

 

(d)          Other
Notices. In the event that the Company shall propose at any time: (i) to declare any dividend or distribution upon any
class or series of capital stock, whether in cash, property, stock or other securities (including, without limitation, pursuant
to a split or subdivision of the outstanding shares of capital stock); (ii) to effect any reclassification or recapitalization
of its capital stock outstanding involving a change in the capital stock; or (iii) to merge or consolidate with or into any
other corporation, or to sell, lease or convey all or substantially all of its property or business, or to liquidate, dissolve
or wind up; then, in connection with each such event, the Company shall mail to the Warrant Holder notice of such transaction:

 

(A)         at
least five (5) business days’ prior written notice in accordance with Section 20 of the date on which a record shall
be taken for such dividend or distribution (and specifying the date on which the holder of the affected class or series of capital
stock shall be entitled thereto) or for determining the rights to vote, if any, in respect of the matters referred to in (c)(ii)
and (c)(iii) above; and

 

(B)          in
the case of the matters referred to in (d)(ii) and (d)(iii) above, written notice of such impending transaction not later than
ten (10) business days’ prior to any shareholders’ meeting called to approve such transaction, or ten (10) business
days’ prior to the closing of such transaction, whichever is earlier, and shall also notify the Warrant Holder in writing
in accordance with Section 20 of the final approval of such transaction by the stockholders of the Company (if such approval
is required). The first of such notices shall describe the terms and conditions of the impending transaction that are material
to a holder of Common Stock (as determined by the Board of Directors of the Company (the “Board”) in good faith)
and specify the date on which a holder of Common Stock shall be entitled to exchange his, her or its Common Stock for securities
or other property deliverable upon the occurrence of such event) and the Company shall thereafter give such holder prompt notice
of any changes in such terms or conditions that are material to a holder of Common Stock (as determined by the Board in good faith).
The Company acknowledges that any record date must be set at a date that would permit the Warrant Holder effectively to exercise
its rights hereunder.

 

    	 	11	 

    

    

 

(e)          Changes
in Stock. In case at any time prior to the Expiration Date, the Company shall be a party to any transaction (including, without
limitation, a merger, consolidation, sale of all or substantially all of the Company’s assets or recapitalization of its
capital stock) in which the previously outstanding shares of Common Stock shall be changed into or exchanged for different securities
of the Company or common stock or other securities of another corporation or interests in a non-corporate entity or other property
(including cash) or the Company shall make a distribution on its shares of Common Stock, other than regular cash dividends on
its outstanding stock, or any combination of any of the foregoing (each such transaction being herein called the “Transaction”
and the date of consummation of the Transaction being herein called the “Consummation Date”), then as a condition
of the consummation of such Transaction, lawful and adequate provisions shall be made so that the Warrant Holder, upon the exercise
hereof at any time on or after the Consummation Date and prior to the Expiration Date, shall be entitled to receive, and this
Agreement shall thereafter represent the right to receive, in lieu of the Warrant Shares issuable upon such exercise prior
to the Consummation Date, the highest amount of securities or other property to which the Warrant Holder would actually have been
entitled as a stockholder upon the consummation of the Transaction if the Warrant Holder had exercised the Warrant immediately
prior thereto. The provisions of this Section 6(e) shall similarly apply to successive Transactions.

 

7.            Taxes.
The Warrant Holder acknowledges that upon exercise of the Warrant the Warrant Holder may be deemed to have taxable income in respect
of the Warrant and/or the Warrant Shares. The Warrant Holder acknowledges that any income or other taxes due from it with respect
to the Warrant or the Warrant Shares issuable pursuant to the Warrant shall be the Warrant Holder’s responsibility.

 

8.            Representations
and Warranties.

 

(a)          Representations
and Warranties by the Company. The representations and warranties of the Company set forth in Section 2 of the Purchase Agreement
are true and correct as of the Issue Date.

 

(b)          Representations
and Warranties by the Warrant Holder. The representations and warranties of the Warrant Holder set forth in Section 3 of the
Purchase Agreement are true and correct as of the Issue Date.

 

9.            Registration
Rights. The Company acknowledges that the Warrant
Shares are subject to the Registration Rights Agreement.

 

    	 	12	 

    

    

 

10.          Noncircumvention.
The Company hereby covenants and agrees that the Company will not, by amendment of its certificate of incorporation or bylaws,
or through any reorganization, transfer of assets, consolidation, merger, scheme of arrangement, dissolution, issue or sale of
securities, or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant,
and will at all times in good faith carry out all the provisions of this Warrant and take all action as may be required to protect
the rights of the Holder. Without limiting the generality of the foregoing, the Company (i) shall not increase the par value
of any shares of Common Stock receivable upon the exercise of this Warrant above the Exercise Price then in effect and (ii) shall
take all such actions as may be necessary or appropriate in order that the Company may validly and legally issue fully paid and
nonassessable shares of Common Stock upon the exercise of this Warrant.

 

11.          Reissuance
Of Warrants.

 

(a)           Transfer
of Warrant. If this Warrant is to be transferred, the Warrant Holder shall surrender this Warrant to the Company and an
opinion of counsel from an attorney regularly engaged in the practice of securities law, whereupon the Company will forthwith
issue and deliver upon the order of the Warrant Holder a new Warrant (in accordance with Section 11(d)), registered as the
Warrant Holder may request, representing the right to purchase the number of Warrant Shares being transferred by the Warrant
Holder and, if less than the total number of Warrant Shares then underlying this Warrant is being transferred, a new Warrant
(in accordance with Section 7(d)) to the Warrant Holder representing the right to purchase the number of Warrant Shares not
being transferred.

 

(b)           Lost,
Stolen or Mutilated Warrant. Upon receipt by the Company of evidence reasonably satisfactory to the Company of the loss,
theft, destruction or mutilation of this Warrant, and, in the case of loss, theft or destruction, of any indemnification and
payment of any required bond undertaking by the Warrant Holder to the Company in customary form and, in the case of
mutilation, upon surrender and cancellation of this Warrant, the Company shall execute and deliver to the Warrant Holder a
new Warrant (in accordance with Section 11(d)) representing the right to purchase the Warrant Shares then underlying this
Warrant.

 

(c)           Exchangeable
for Multiple Warrants. This Warrant is exchangeable, upon the surrender hereof by the Warrant Holder at the principal
office of the Company, for a new Warrant or Warrants (in accordance with Section 11(d)) representing in the aggregate the
right to purchase the number of Warrant Shares then underlying this Warrant, and each such new Warrant will represent the
right to purchase such portion of such Warrant Shares as is designated by the Warrant Holder at the time of such surrender;
provided, however, that no Warrants for fractional shares of Common Stock shall be given.

 

(d)           Issuance
of New Warrants.
Whenever the Company is required to issue a new Warrant pursuant to the terms of this Warrant, such new Warrant (i) shall be of
like tenor with this Warrant, (ii) shall represent, as indicated on the face of such new Warrant, the right to purchase the Warrant
Shares then underlying this Warrant (or in the case of a new Warrant being issued pursuant to Section 11(a) or Section 11(c),
the Warrant Shares designated by the Warrant Holder which, when added to the number of shares of Common Stock underlying the other
new Warrants issued in connection with such issuance, does not exceed the number of Warrant Shares then underlying this Warrant),
(iii) shall have an issuance date, as indicated on the face of such new Warrant which is the same as the Issuance Date, and (iv)
shall have the same rights and conditions as this Warrant.

 

    	 	13	 

    

    

 

12.          Amendment
And Waiver. Except as otherwise provided herein, the provisions
of this Warrant may be amended and the Company may take any action herein prohibited, or omit to perform any act herein required
to be performed by it, only if the Company has obtained the written consent of the Warrant Holder.

 

13.          Dispute
Resolution. In the case of a dispute as to the determination
of the Exercise Price or the arithmetic calculation of the Warrant Shares issuable pursuant hereto, the Company shall promptly
issue to the Warrant Holder the number of Warrant Shares that are not disputed and resolve such dispute in accordance with this
Section 13. In the case of a dispute as to the determination of the Exercise Price or the arithmetic calculation of the Warrant
Shares issuable pursuant hereto, the Company shall submit the disputed determinations or arithmetic calculations via facsimile
within two (2) Business Days of receipt of the Exercise Notice giving rise to such dispute, as the case may be, to the Warrant
Holder. If the Warrant Holder and the Company are unable to agree upon such determination or calculation of the Exercise Price
or the Warrant Shares within three (3) Business Days of such disputed determination or arithmetic calculation being submitted
to the Warrant Holder, then the Company shall, within two (2) Business Days submit via facsimile (a) the disputed determination
of the Exercise Price to an independent, reputable investment bank selected by the Company and approved by the Warrant Holder
or (b) the disputed arithmetic calculation of the Warrant Shares to the Company’s independent, outside accountant. The Company
shall cause the investment bank or the accountant, as the case may be, to perform the determinations or calculations and notify
the Company and the Warrant Holder of the results no later than ten (10) Business Days from the time it receives the disputed
determinations or calculations. Such investment bank’s or accountant’s determination or calculation, as the case may
be, shall be binding upon all parties absent demonstrable error. The party whose calculation is furthest from the investment bank’s
or accountant’s determination or calculation, as the case may be, shall be obligated to pay the fees and expenses of such
investment bank or accountant.

 

14.          Remedies,
Other Obligations, Breaches And Injunctive Relief. The remedies
provided in this Warrant shall be cumulative and in addition to all other remedies available under this Warrant and the other
Transaction Documents, at law or in equity (including a decree of specific performance and/or other injunctive relief), and nothing
herein shall limit the right of the Warrant Holder to pursue actual damages for any failure by the Company to comply with the
terms of this Warrant. The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to
the Warrant Holder and that the remedy at law for any such breach may be inadequate. The Company therefore agrees that, in the
event of any such breach or threatened breach, the holder of this Warrant shall be entitled, in addition to all other available
remedies, to an injunction restraining any breach, without the necessity of showing economic loss and without any bond or other
security being required. The Company shall provide all information and documentation to the Warrant Holder that is requested by
the Holder to enable the Holder to confirm the Company’s compliance with the terms and conditions of this Warrant (including,
without limitation, compliance with Section 6 hereof).

 

    	 	14	 

    

    

 

15.          Transfer.
This Warrant may be offered for sale, sold, transferred or assigned without the consent of the Company.

 

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

 

17.          Certain
Definitions. For purposes of this Warrant, the following
terms shall have the following meanings:

 

(a)          “Bridge
Financing” means the private offering the Company completed on March 2, 2015.

 

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

 

(c)          “Closing
Bid Price” and “Closing Sale Price” means, for any security as of any date, the last closing bid
price and last trade price, respectively, for such security on the Principal Market, as reported by Bloomberg, or, if the Principal
Market begins to operate on an extended hours basis and does not designate the closing bid price or the closing trade price, as
the case may be, then the last bid price or the last trade price, respectively, of such security prior to 4:00:00 p.m., New York
time, as reported by Bloomberg, or, if the Principal Market is not the principal securities exchange or trading market for such
security, the last closing bid price or last trade price, respectively, of such security on the principal securities exchange
or trading market where such security is listed or traded as reported by Bloomberg, or if the foregoing do not apply, the last
closing bid price or last trade price, respectively, of such security in the over-the-counter market on the electronic bulletin
board for such security as reported by Bloomberg, or, if no closing bid price or last trade price, respectively, is reported for
such security by Bloomberg, the average of the bid prices, or the ask prices, respectively, of any market makers for such security
as reported in the “pink sheets” by OTC Markets Group, Inc. (formerly Pink Sheets LLC). If the Closing Bid Price or
the Closing Sale Price cannot be calculated for a security on a particular date on any of the foregoing bases, the Closing Bid
Price or the Closing Sale Price, as the case may be, of such security on such date shall be the fair market value as mutually
determined by the Company and the Holder. If the Company and the Holder are unable to agree upon the fair market value of such
security, then such dispute shall be resolved pursuant to Section 13. All such determinations to be appropriately adjusted for
any stock dividend, stock split, stock combination or other similar transaction during the applicable calculation period.

 

    	 	15	 

    

    

 

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

 

(e)          “Outstanding
Common Stock” means, at any given time, the aggregate amount of outstanding shares of Common Stock, assuming full
exercise, conversion or exchange (as applicable) of all Common Stock Equivalents that are outstanding at such time.

 

(f)          “Principal
Market” means the principal securities exchange or securities market on which the shares of Common Stock are then traded.

 

(g)          “Trading
Day” means, as applicable, (x) with respect to all price determinations relating to the Common Stock, any day on which
the Common Stock is traded on the Principal Market, or, if the Principal Market is not the principal trading market for the Common
Stock, then on the principal securities exchange or securities market on which the Common Stock is then traded, provided that
“Trading Day” shall not include any day on which the Common Stock is scheduled to trade on such exchange or market
for less than 4.5 hours or any day that the Common Stock is suspended from trading during the final hour of trading on such exchange
or market (or if such exchange or market does not designate in advance the closing time of trading on such exchange or market,
then during the hour ending at 4:00:00 p.m., New York time) unless such day is otherwise designated as a Trading Day in writing
by the Holder or (y) with respect to all determinations other than price determinations relating to the Common Stock, any day
on which The New York Stock Exchange (or any successor thereto) is open for trading of securities.

 

18.          Jurisdiction.
All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be determined in accordance
with the provisions of the Purchase Agreement.

 

19.          Assignability.
Notwithstanding anything contained herein to the contrary, subject to the transfer and securities law restrictions set forth in
this Agreement, the Warrant Holder may assign, convey or transfer, in whole or in part, its rights under this Agreement and provide
written notice to Company of any such assignment, conveyance or transfer. Upon any transfer, assignment, pledge, hypothecation
or other disposition of the Warrant or of any rights granted hereunder in accordance with the terms of this Section 18, the Company
shall if necessary issue or re-issue warrant agreements reflecting the appropriate rights and entitlements of the Warrant Holder
and any transferee, assignee or pledgee after giving effect to such transfer, assignment or pledge.

 

20.          Notices.
Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company shall be delivered
in accordance with the notice provisions of the Purchase Agreement.

 

[signatures
on following page]

 

    	 	16	 

    

    

 

IN
WITNESS WHEREOF, the undersigned hereby execute this Agreement as of the day and year first above written.

 

	 	COMPANY:
	 	 
	 	REDWOOD
    SCIENTIFIC TECHNOLOGIES, INC.
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	CEO

 

[Signature Page – Warrant Agreement]

 

    	 	17	 

    

    

 

EXHIBIT
A

 

NOTICE
OF EXERCISE

 

The
undersigned holder hereby exercises the right to purchase _________________ shares of Common Stock (“Warrant Shares”)
of Redwood Scientific Technologies, Inc., a Nevada corporation (the “Company”), evidenced by the attached Series
B Warrant No. [ ] (the “Warrant”). Capitalized terms used herein and not otherwise defined shall have the respective
meanings set forth in the Warrant.

 

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

 

                            ____________a
“Cash Exercise” with respect to _________________ Warrant Shares; or

 

                            ____________a
“Cashless Exercise” with respect to _______________ Warrant Shares.

 

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

 

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

 

Date:
_______________ __, ______

 

 

 

Name
of Registered Holder

 

	By:	 	 
	 	Name:	 
	 	Title:Exhibit 10.3

 

REGISTRATION
RIGHTS AGREEMENT

 

This
Registration Rights Agreement (this “Agreement”) is made and entered into as of [ ], 2015 by and among Redwood
Scientific Technologies, Inc., a Nevada corporation (the “Company”), and the purchasers listed on Schedule
I hereto (the “Purchasers”).

 

This
Agreement is being entered into pursuant to the Unit Purchase Agreement dated as of the date hereof among the Company and the
Purchasers (the “Purchase Agreement”).

 

The
Company and the Purchasers hereby agree as follows:

 

1.           Definitions.

 

Capitalized
terms used and not otherwise defined herein shall have the meanings given such terms in the Purchase Agreement. As used in this
Agreement, the following terms shall have the following meanings:

 

“Advice”
shall have meaning set forth in Section 3(m).

 

“Affiliate”
means, with respect to any Person, any other Person which directly or indirectly through one or more intermediaries Controls,
is controlled by, or is under common control with, such Person. For the avoidance of doubt, with respect to a Purchaser which
is a general or limited partnership, an Affiliate shall be deemed to include affiliated partnerships managed by the same management
company or managing general partner or by an entity which controls, is controlled by, or is under common control with, such management
company or managing general partner.

 

“Board”
shall have meaning set forth in Section 3(n).

 

"Bridge
Financing" means the private offering made pursuant to Section 4(a)(2) of the Securities Act and/or Rule 506 promulgated
thereunder, of up to $1,500,000 secured convertible notes.

 

“Bridge
Warrants” means the warrants issued pursuant to the Bridge Financing.

 

“Business
Day” means any day except Saturday, Sunday and any day which shall be a legal holiday or a day on which banking institutions
in the State of New York generally are authorized or required by law or other government actions to close.

 

“Closing
Date” means the date of the final closing of the purchase and sale of the Units pursuant to the Purchase Agreement.

 

“Commission”
means the Securities and Exchange Commission.

 

“Common
Stock” means the Company’s common stock, par value $0.01 per share.

 

    	 	1	 

    

    

 

“Control”
(including the terms “controlling”, “controlled by” or “under common control with”) means
the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person,
whether through the ownership of voting securities, by contract or otherwise.

 

“Effectiveness
Date” means with respect to the Registration Statement under Section 2(a), the earlier of (A) the ninetieth (90th)
day following the later to occur of (i) the Filing Date or (ii) or in the event the Registration Statement receives a “full
review” by the Commission, the one hundred twentieth (120th) following the Filing Date, or (B) the date which
is within three (3) Business Days after the date on which the Commission informs the Company (i) that the Commission will not
review the Registration Statement or (ii) that the Company may request the acceleration of the effectiveness of the Registration
Statement; provided, however, that, if the Effectiveness Date falls on a Saturday, Sunday or any other day
which shall be a legal holiday or a day on which the Commission is authorized or required by law or other government actions to
close, the Effectiveness Date shall be the following Business Day.

 

“Effectiveness
Period” shall have the meaning set forth in Section 2(a).

 

“Event”
shall have the meaning set forth in Section 7(e).

 

“Event
Date” shall have the meaning set forth in Section 7(e).

 

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

 

“Filing
Date” means with respect to a Registration Statement under Section 2(a), the earlier of: (i) the date that is the thirtieth
(30th) day following the final closing date of the Offering or (ii) November 30, 2015; provided, however that if
the Filing Date falls on a Saturday, Sunday or any other day which shall be a legal holiday or a day on which the Commission is
authorized or required by law or other government actions to close, the Filing Date shall be the following Business Day.

 

“Holder”
or “Holders” means the holder or holders, as the case may be, from time to time of Registrable Securities.

 

“Indemnified
Party” shall have the meaning set forth in Section 5(c).

 

“Indemnifying
Party” shall have the meaning set forth in Section 5(c).

 

“Losses”
shall have the meaning set forth in Section 5(a).

 

"Notes"
means the up to $1,500,000 secured convertible notes issued pursuant to the Bridge Financing.

 

“Offering”
means the offering made pursuant to Section 4(a)(2) of the Securities Act and/or Rule 506 promulgated thereunder of Units pursuant
to the Purchase Agreement, for a maximum of up to $5,000,000.

 

    	 	2	 

    

    

 

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

 

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

 

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

 

“Purchase
Agreement” means the Unit Purchase Agreement, dated as of [ ], 2015 between the Company and each of the Purchasers.

 

“Registrable
Securities” means, collectively (i) the shares of Common Stock issuable upon conversion of the Notes (the "Note
Shares"); (ii)the shares of Common Stock issuable upon exercise of the Bridge Warrants (the “Bridge Warrant
Shares”); (iii) the shares of Common Stock underlying the Units (the “Unit Shares”); (iv) the shares
of Common Stock underlying the Warrants (the “Warrant Shares,” collectively the Note Shares, Bridge Warrant
Shares, Unit Shares and Warrant Shares are referred to as the “Purchased Shares”); (v) the shares of Common
Stock issuable upon exercise of the warrants issued to the Placement Agent pursuant to the Bridge Financing and the Offering;
and (vi) any securities issued or issuable upon any stock split, dividend or other distribution, recapitalization or similar event
with respect to the foregoing; provided, that the Holder has completed and delivered to the Company a Selling Stockholder
Questionnaire; and provided, further, that the Note Shares, Bridge Warrant Shares and Warrant Shares shall cease
to be Registrable Securities upon the earlier to occur of the following: (A) sale pursuant to a Registration Statement or Rule
144 under the Securities Act (in which case, only such security sold shall cease to be a Registrable Security), (B) becoming eligible
for sale by the Holder pursuant to Rule 144, without limitation, or (C) one year after the date of this Agreement, so long as
the Registrable Securities may be sold without limitation under Rule 144.

 

“Registration
Statement” means a registration statement and any additional registration statements contemplated by Section 2, including
(in each case) the Prospectus, amendments and supplements to such registration statement or Prospectus, including pre- and post-effective
amendments, all exhibits thereto, and all material incorporated by reference in such registration statement.

 

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

 

    	 	3	 

    

    

 

“Rule
158” means Rule 158 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time
to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule.

 

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

 

“Rule
416” means Rule 416 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time
to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule.

 

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

 

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

 

“SEC
Guidance” means (i) any publicly available written or oral guidance of the Commission staff, or any comments, requirements
or requests of the Commission staff and (ii) the Securities Act.

 

“Selling
Stockholder Questionnaire” means a questionnaire in the form attached as Exhibit B hereto, or such other form
of questionnaire as may reasonably be adopted by the Company from time to time.

 

“Units”
means the Units issuable pursuant to the Purchase Agreement.

 

“Warrants”
means the warrants to purchase shares of Common Stock issuable to the Purchasers pursuant to the Purchase Agreement.

 

2.           Resale
Registration.

(a)           On
or prior to the Filing Date, the Company shall prepare and file with the Commission a “resale” Registration Statement
providing for the resale of all Registrable Securities by means of an offering to be made on a continuous basis pursuant to Rule
415. The Registration Statement shall be on Form S-1 (or another appropriate form in accordance herewith). The Company shall (i)
not permit any securities other than the Registrable Securities to be included in the Registration Statement and (ii) use its
commercially reasonable efforts to cause the Registration Statement to be declared effective under the Securities Act as promptly
as possible after the filing thereof, but in any event prior to the Effectiveness Date, and to keep such Registration Statement
continuously effective under the Securities Act until such date as is the earlier of (x) the date when all Registrable Securities
covered by such Registration Statement have been sold, (y) the date on which the Registrable Securities may be sold without any
restriction pursuant to Rule 144 as determined by the counsel to the Company pursuant to a written opinion letter, addressed to
the Company’s transfer agent to such effect or (z) one year after the date hereof (the “Effectiveness Period”).
The Company shall request that the effective time of the Registration Statement be 4:00 p.m. Eastern Time on the Effectiveness
Date. If at any time and for any reason, an additional Registration Statement is required to be filed because at such time the
actual number of Registrable Securities exceeds the number of Registrable Securities remaining under the Registration Statement
and such Registrable Securities are not saleable under Rule 144, without limitation, the Company shall have sixty (60) Business
Days to file such additional Registration Statement, and the Company shall use its commercially reasonable efforts to cause such
additional Registration Statement to be declared effective by the Commission as soon as possible, but in no event later than ninety
(90)) days after such filing; provided, however that if the prior Registration Statement was filed within six months of such sixty
(60) or ninety (90) day period, then the sixty (60) and ninety (90 ) days shall commence immediately after the expiration of the
date that is six months after the filing of the prior Registration Statement, unless then current securities laws permit the earlier
registration of same.

 

    	 	4	 

    

    

 

(b)           Notwithstanding
anything to the contrary set forth in this Section 2, in the event the Commission does not permit the Company to register all
of the Registrable Securities in the Registration Statement because of the Commission’s application of Rule 415, the number
of Registrable Securities to be registered on such Registration Statement will be reduced in the order of the Registrable Securities
represented by the total number of Purchased Shares owned by the Holders, applied on a pro rata basis. The Company shall use its
commercially reasonable efforts to file additional Registration Statements to register the Registrable Securities that were not
registered in the initial Registration Statement and are not saleable under Rule 144 without limitation as promptly as possible
but in no event later than on the Filing Date and in a manner permitted by the Commission. For purposes of this Section 2(b),
“Filing Date” means with respect to each subsequent Registration Statement filed pursuant hereto, the later
of (i) sixty (60) days following the sale of substantially all of the Registrable Securities included in the initial Registration
Statement or any subsequent Registration Statement and (ii) six (6) months following the effective date of the initial Registration
Statement or any subsequent Registration Statement, as applicable, or such earlier date as permitted by the Commission. For purposes
of this Section 2(b), “Effectiveness Date” means with respect to each subsequent Registration Statement filed
pursuant hereto, the earlier of (A) the ninetieth (90th) day following the filing date of such Registration Statement
(or in the event such Registration Statement receives a “full review” by the Commission, the one hundred twentieth
(120th) day following such filing date) or (B) the date which is within three (3) Business Days after the date on which
the Commission informs the Company (i) that the Commission will not review such Registration Statement or (ii) that the
Company may request the acceleration of the effectiveness of such Registration Statement; provided that, if the
Effectiveness Date falls on a Saturday, Sunday or any other day which shall be a legal holiday or a day on which the Commission
is authorized or required by law or other government actions to close, the Effectiveness Date shall be the following Business
Day.

 

(c)           Each
Holder agrees to furnish to the Company a completed Selling Stockholder Questionnaire not more than ten (10) Business Days following
the date of this Agreement. Each Holder further agrees that it shall not be entitled to be named as a selling security holder
in the Registration Statement or use the Prospectus for offers and resales of Registrable Securities at any time, unless such
Holder has returned to the Company a completed and signed Selling Stockholder Questionnaire. If a Holder of Registrable Securities
returns a Selling Stockholder Questionnaire after the deadline specified in the previous sentence, the Company shall use its commercially
reasonable efforts to take such actions as are required to name such Holder as a selling security holder in the Registration Statement
or any pre-effective or post-effective amendment thereto and to include (to the extent not theretofore included) in the Registration
Statement the Registrable Securities identified in such late Selling Stockholder Questionnaire; provided that the Company
shall not be required to file an additional Registration Statement solely for such shares. Each Holder acknowledges and agrees
that the information in the Selling Stockholder Questionnaire will be used by the Company in the preparation of the Registration
Statement and hereby consents to the inclusion of such information in the Registration Statement.

           

    	 	5	 

    

    

 

3.           Registration
Procedures.

 

In
connection with the Company’s registration obligations hereunder, the Company shall:

 

(a)
           Prepare and file with the Commission, on or prior to the Filing Date, a Registration Statement on Form S-1 (or another appropriate
form in accordance herewith) in accordance with the plan of distribution as set forth on Exhibit A hereto and in accordance
with applicable law, and cause the Registration Statement to become effective and remain effective as provided herein; provided,
however, that not less than five (5) Business Days prior to the filing of the Registration Statement or any related Prospectus
or any amendment or supplement thereto, the Company shall (i) furnish to the Holders copies of all such documents proposed to
be filed, which documents will be subject to the review of such Holders, and (ii) cause its officers and directors, counsel and
independent certified public accountants to respond to such inquiries as shall be necessary to conduct a reasonable review of
such documents. The Company shall not file the Registration Statement or any such Prospectus or any amendments or supplements
thereto to which the Purchasers shall reasonably object in writing within three (3) Business Days of their receipt thereof.

 

(b)           (i)
Prepare and file with the Commission such amendments, including post-effective amendments, to the Registration Statement as may
be necessary to keep the Registration Statement continuously effective as to the applicable Registrable Securities for the Effectiveness
Period and prepare and file with the Commission such additional Registration Statements as necessary in order to register for
resale under the Securities Act all of the Registrable Securities; (ii) cause the related Prospectus to be amended or supplemented
by any required Prospectus supplement, and as so supplemented or amended to be filed pursuant to Rule 424 (or any similar provisions
then in force) promulgated under the Securities Act; (iii) respond as promptly as possible, but in no event later than twenty
(20) Business Days, to any comments received from the Commission with respect to the Registration Statement or any amendment thereto
and as promptly as possible provide the Holders true and complete copies of all correspondence from and to the Commission relating
to the Registration Statement; (iv) file the final prospectus pursuant to Rule 424 of the Securities Act no later than two (2)
Business Days following the date the Registration Statement is declared effective by the Commission; and (v) comply in all material
respects with the provisions of the Securities Act and the Exchange Act with respect to the disposition of all Registrable Securities
covered by the Registration Statement during the Effectiveness Period in accordance with the intended methods of disposition by
the Holders thereof set forth in the Registration Statement as so amended or in such Prospectus as so supplemented.

 

    	 	6	 

    

    

 

(c)           Notify
the Holders of Registrable Securities as promptly as possible (i) when a Prospectus or any Prospectus supplement or post-effective
amendment to the Registration Statement is filed; with respect to the Registration Statement or any post-effective amendment,
when the same has become effective; (ii)of the issuance by the Commission of any stop order suspending the effectiveness of the
Registration Statement covering any or all of the Registrable Securities or the initiation or threatening of any Proceedings for
that purpose; (iii) of the receipt by the Company of any notification with respect to the suspension of the qualification or exemption
from qualification of any of the Registrable Securities for sale in any jurisdiction, or the initiation or threatening of any
Proceeding for such purpose; and (iv) of the occurrence of any event that makes any statement made in the Registration Statement
or Prospectus or any document incorporated or deemed to be incorporated therein by reference untrue in any material respect or
that requires any revisions to the Registration Statement, Prospectus or other documents so that, in the case of the Registration
Statement or the Prospectus, as the case may be, it will not contain any untrue statement of a material fact or omit to state
any material fact required to be stated therein or necessary to make the statements therein (in the case of the Prospectus, in
the light of the circumstances under which they were made) not misleading.

 

(d)           Use
its commercially reasonable efforts to avoid the issuance of, or, if issued, obtain the withdrawal of, as promptly as possible,
(i) any order suspending the effectiveness of the Registration Statement or (ii) any suspension of the qualification (or exemption
from qualification) of any of the Registrable Securities for sale in any jurisdiction.

 

(e)           If
requested by the Holders of a majority in interest of the Registrable Securities, (i) promptly incorporate in a Prospectus supplement
or post-effective amendment to the Registration Statement such information as the Company reasonably agrees should be included
therein and (ii) make all required filings of such Prospectus supplement or such post-effective amendment as soon as practicable
after the Company has received notification of the matters to be incorporated in such Prospectus supplement or post-effective
amendment.

 

(f)           If
requested by any Holder, furnish to such Holder, without charge, at least one conformed copy of each Registration Statement and
each amendment thereto, including financial statements and schedules, all documents incorporated or deemed to be incorporated
therein by reference, and all exhibits to the extent requested by such Person (including those previously furnished or incorporated
by reference) promptly after the filing of such documents with the Commission.

 

(g)           Promptly
deliver to each Holder, without charge, as many copies of the Prospectus or Prospectuses (including each form of prospectus) and
each amendment or supplement thereto as such Persons may reasonably request; and subject to the provisions of Sections 3(m) and
3(n), the Company hereby consents to the use of such Prospectus and each amendment or supplement thereto by each of the selling
Holders in connection with the offering and sale of the Registrable Securities covered by such Prospectus and any amendment or
supplement thereto.

 

    	 	7	 

    

    

 

(h)           Prior
to any resale of Registrable Securities, use its commercially reasonable efforts to register or qualify or cooperate with the
selling Holders in connection with the registration or qualification (or exemption from such registration or qualification) of
such Registrable Securities for offer and sale under the securities or Blue Sky laws of such jurisdictions within the United States
as any Holder requests in writing, to keep each such registration or qualification (or exemption therefrom) effective during the
Effectiveness Period and to do any and all other acts or things necessary or advisable to enable the disposition in such jurisdictions
of the Registrable Securities covered by a Registration Statement; provided, however, that the Company shall not
be required to qualify generally to do business in any jurisdiction where it is not then so qualified or to take any action that
would subject it to general service of process in any such jurisdiction where it is not then so subject or subject the Company
to any material tax in any such jurisdiction where it is not then so subject.

 

(i)           Cooperate
with the Holders to facilitate the timely preparation and delivery of certificates representing Registrable Securities to be sold
pursuant to a Registration Statement, which certificates, to the extent permitted by the Purchase Agreement and applicable federal
and state securities laws, shall be free of all restrictive legends, and to enable such Registrable Securities to be in such denominations
and registered in such names of the Holder in connection with any sale of Registrable Securities.

 

(j)           Upon
the occurrence of any event contemplated by Section 3(c)(iv), as promptly as possible, prepare a supplement or amendment, including
a post-effective amendment, to the Registration Statement or a supplement to the related Prospectus or any document incorporated
or deemed to be incorporated therein by reference, and file any other required document so that, as thereafter delivered, neither
the Registration Statement nor such Prospectus will contain an untrue statement of a material fact or omit to state a material
fact required to be stated therein or necessary to make the statements therein (in the case of the Prospectus, in the light of
the circumstances under which they were made) not misleading.

 

(k)           Use
its commercially reasonable efforts to cause all Registrable Securities relating to the Registration Statement, to continue to
be quoted or listed on a securities exchange, quotation system or market, if any, on which similar securities issued by the Company
are then listed or traded as and when required pursuant to the Purchase Agreement.

 

(l)           Comply
in all material respects with all applicable rules and regulations of the Commission and make generally available to its security
holders all documents filed or required to be filed with the Commission, including, but not limited, to, earning statements satisfying
the provisions of Section 11(a) of the Securities Act and Rule 158 not later than 45 days after the end of any 12-month period
(or 90 days after the end of any 12-month period if such period is a fiscal year) commencing on the first day of the first fiscal
quarter of the Company after the effective date of the Registration Statement, which statement shall conform to the requirements
of Rule 158.

 

(m)         The
Company may require each selling Holder to furnish to the Company a certified statement as to the number of shares of Common Stock
beneficially owned by such Holder and the natural persons thereof that have voting and dispositive control over the Registrable
Securities. During any periods that the Company is unable to meet its obligations hereunder with respect to the registration of
the Registrable Securities solely because any Holder fails to furnish such information within five (5) Business Days of the Company’s
request, any liquidated damages that are accruing at such time as to such Holder only shall be tolled and any Event that may otherwise
occur solely because of such delay shall be suspended as to such Holder only, until such information is delivered to the Company.

 

    	 	8	 

    

    

 

If
the Registration Statement refers to any Holder by name or otherwise as the holder of any securities of the Company, then such
Holder shall have the right to require (if such reference to such Holder by name or otherwise is not required by the Securities
Act or any similar federal statute then in force) the deletion of the reference to such Holder in any amendment or supplement
to the Registration Statement filed or prepared subsequent to the time that such reference ceases to be required.

 

Each
Holder covenants and agrees that it will not sell any Registrable Securities under the Registration Statement until the Company
has electronically filed the Prospectus as then amended or supplemented as contemplated in Section 3(g) and notice from the Company
that the Registration Statement and any post-effective amendments thereto have become effective as contemplated by Section 3(c).

 

Each
Holder agrees by its acquisition of such Registrable Securities that, upon receipt of a notice from the Company of the occurrence
of any event of the kind described in Section 3(c)(ii), 3(c)(iii), 3(c)(iv), 3(c)(v), 3(c)(vi) or 3(n), such Holder will forthwith
discontinue disposition of such Registrable Securities under the Registration Statement until such Holder’s receipt of the
copies of the supplemented Prospectus and/or amended Registration Statement contemplated by Section 3(j), or until it is advised
in writing (the “Advice”) by the Company that the use of the applicable Prospectus may be resumed, and, in
either case, has received copies of any additional or supplemental filings that are incorporated or deemed to be incorporated
by reference in such Prospectus or Registration Statement.

 

(n)           If
(i) there is material non-public information regarding the Company which the Company’s Board of Directors (the “Board”)
determines not to be in the Company’s best interest to disclose and which the Company is not otherwise required to disclose,
(ii) there is a significant business opportunity (including, but not limited to, the acquisition or disposition of assets (other
than in the ordinary course of business) or any merger, consolidation, tender offer or other similar transaction) available to
the Company which the Board determines not to be in the Company’s best interest to disclose, or (iii) the Company is required
to file a post-effective amendment to the Registration Statement to incorporate the Company’s quarterly and annual reports
and audited financial statements on Forms 10-Q and 10-K, then the Company may (x) postpone or suspend filing of a registration
statement for a period not to exceed forty-five (45) consecutive days or (y) postpone or suspend effectiveness of a registration
statement for a period not to exceed forty-five (45) consecutive days; provided that the Company may not postpone or suspend
effectiveness of a registration statement under this Section 3(n) for more than ninety (90) days in the aggregate during any three
hundred sixty (360) day period; provided, however, that no such postponement or suspension shall be permitted for
consecutive twenty (20) day periods arising out of the same set of facts, circumstances or transactions.

 

    	 	9	 

    

    

 

4.           Registration
Expenses.

 

All
fees and expenses incident to the performance of or compliance with this Agreement by the Company, except as and to the extent
specified in this Section 4, shall be borne by the Company whether or not the Registration Statement is filed or becomes effective
and whether or not any Registrable Securities are sold pursuant to the Registration Statement. The fees and expenses referred
to in the foregoing sentence shall include, without limitation, (i) all registration and filing fees (including, without limitation,
fees and expenses (A) with respect to filings required to be made with any securities exchange or market on which Registrable
Securities are required hereunder to be listed, if any, (B) with respect to filing fees required to be paid to the Financial Industry
Regulatory Authority, Inc. (including, without limitation, pursuant to FINRA Rule 5110) and (C) in compliance with state securities
or Blue Sky laws (including, without limitation, fees and disbursements of one counsel for the Holders up to a maximum amount
of $5,000 in connection with Blue Sky qualifications of the Registrable Securities and determination of the eligibility of the
Registrable Securities for investment under the laws of such jurisdictions as the Holders of a majority of Registrable Securities
may designate)), (ii) printing expenses (including, without limitation, expenses of printing certificates for Registrable Securities
and of printing prospectuses if the printing of prospectuses is requested by the holders of a majority of the Registrable Securities
included in the Registration Statement), (iii) messenger, telephone and delivery expenses, (iv) Securities Act liability insurance,
if the Company so desires such insurance, and (v) fees and expenses of all other Persons retained by the Company in connection
with the consummation of the transactions contemplated by this Agreement, including, without limitation, the Company’s independent
public accountants (including the expenses of any comfort letters or costs associated with the delivery by independent public
accountants of a comfort letter or comfort letters). In addition, the Company shall be responsible for all of its internal expenses
incurred in connection with the consummation of the transactions contemplated by this Agreement (including, without limitation,
all salaries and expenses of its officers and employees performing legal or accounting duties), the expense of any annual audit,
the fees and expenses incurred in connection with the listing of the Registrable Securities on any securities exchange if required
hereunder. The Company shall not be responsible for any discounts, commissions, transfer taxes or other similar fees incurred
by the Holders in connection with the sale of the Registrable Securities.

 

5.           Indemnification.

 

(a)           Indemnification
by the Company. The Company shall, notwithstanding any termination of this Agreement, indemnify and hold harmless each Holder,
the officers, directors, managers, partners, members, shareholders, agents, brokers, investment advisors and employees of each
of them, each Person who controls any such Holder (within the meaning of Section 15 of the Securities Act or Section 20 of the
Exchange Act) and the officers, directors, agents and employees of each such controlling Person, to the fullest extent permitted
by applicable law, from and against any and all losses, claims, damages, liabilities, costs (including, without limitation, costs
of preparation and attorneys’ fees) and expenses (collectively, “Losses”), as incurred, arising out of
or relating to any violation of securities laws or untrue statement of a material fact contained in the Registration Statement,
any Prospectus or any form of prospectus or in any amendment or supplement thereto or in any preliminary prospectus, or arising
out of or relating to any omission of a material fact required to be stated therein or necessary to make the statements therein
(in the case of any Prospectus or form of prospectus or supplement thereto, in the light of the circumstances under which they
were made) not misleading, except to the extent, but only to the extent, that such untrue statements or omissions are based solely
upon information regarding such Holder or such other Indemnified Party furnished in writing to the Company by such Holder for
use therein. The Company shall notify the Holders promptly of the institution, threat or assertion of any Proceeding of which
the Company is aware in connection with the transactions contemplated by this Agreement.

 

    	 	10	 

    

    

 

(b)           Indemnification
by Holders. Each Holder shall, severally and not jointly, indemnify and hold harmless the Company, its directors, officers,
agents and employees, each Person who controls the Company (within the meaning of Section 15 of the Securities Act and Section
20 of the Exchange Act), and the directors, officers, agents and employees of such controlling Persons, to the fullest extent
permitted by applicable law, from and against all Losses, as incurred, arising out of or based upon any untrue statement of a
material fact contained in the Registration Statement, any Prospectus, or any form of prospectus, or in any amendment or supplement
thereto, or arising out of or based upon any omission of a material fact required to be stated therein or necessary to make the
statements therein (in the case of any Prospectus or form of prospectus or supplement thereto, in the light of the circumstances
under which they were made) not misleading, to the extent, but only to the extent, that such untrue statement or omission is contained
in any information so furnished in writing by such Holder or other Indemnifying Party to the Company specifically for inclusion
in the Registration Statement or such Prospectus. Notwithstanding anything to the contrary contained herein, each Holder shall
be liable under this Section 5(b) only for the lesser of (a) the actual damages incurred or (b) that amount as does not exceed
the gross proceeds to such Holder as a result of the sale of his/her/its Registrable Securities pursuant to such Registration
Statement.

 

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

 

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

 

    	 	11	 

    

    

 

(d)           Contribution.
If a claim for indemnification under Section 5(a) or 5(b) is due but unavailable to an Indemnified Party because of a failure
or refusal of a governmental authority to enforce such indemnification in accordance with its terms (by reason of public policy
or otherwise), then each Indemnifying Party, in lieu of indemnifying such Indemnified Party, shall contribute to the amount paid
or payable by such Indemnified Party as a result of such Losses, in such proportion as is appropriate to reflect the relative
benefits received by the Indemnifying Party on the one hand and the Indemnified Party on the other from the offering of the Purchased
Shares. If, but only if, the allocation provided by the foregoing sentence is not permitted by applicable law, the allocation
of contribution shall be made in such proportion as is appropriate to reflect not only the relative benefits referred to in the
foregoing sentence but also the relative fault, as applicable, of the Indemnifying Party and Indemnified Party in connection with
the actions, statements or omissions that resulted in such Losses as well as any other relevant equitable considerations. The
relative fault of such Indemnifying Party and Indemnified Party shall be determined by reference to, among other things, whether
any action in question, including any untrue statement of a material fact or omission of a material fact, has been taken or made
by, or relates to information supplied by, such Indemnifying Party or Indemnified Party, and the parties’ relative
intent, knowledge, access to information and opportunity to correct or prevent such action, statement or omission. The amount
paid or payable by a party as a result of any Losses shall be deemed to include, subject to the limitations set forth in Section
5(c), any reasonable attorneys’ or other reasonable fees or expenses incurred by such party in connection with any Proceeding
to the extent such party would have been indemnified for such fees or expenses if the indemnification provided for in this Section
was available to such party in accordance with its terms. In no event shall any selling Holder be required to contribute an amount
under this Section 5(d) in excess of the gross proceeds received by such Holder upon sale of such Holder’s Registrable Securities
pursuant to the Registration Statement giving rise to such contribution obligation.

 

The
parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 5(d) were determined by
pro rata allocation or by any other method of allocation that does not take into account the equitable considerations referred
to in the immediately preceding paragraph. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f)
of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation.

 

    	 	12	 

    

    

 

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

 

6.           Rule
144.

Unless
and until such time as the Holder can sell the Registrable Securities pursuant to Rule 144, the Company covenants to timely file
(or obtain extensions in respect thereof and file within the applicable grace period) all reports required to be filed by the
Company after the date hereof pursuant to Section 13(a) or 15(d) of the Exchange Act. As long as any Holder owns Warrants or Registrable
Securities, if the Company is not required to file reports pursuant to Section 13(a) or 15(d) of the Exchange Act, it will prepare
and furnish to the Holders and make publicly available in accordance with Rule 144(c) promulgated under the Securities Act, annual
and quarterly financial statements, together with a discussion and analysis of such financial statements in form and substance
substantially similar to those that would otherwise be required to be included in reports required by Section 13(a) or 15(d) of
the Exchange Act, as well as any other information required thereby, in the time period that such filings would have been required
to have been made under the Exchange Act. The Company further covenants that it will take such further action as any Holder may
reasonably request, all to the extent reasonably required from time to time to enable such Person to sell the Purchased Shares
without registration under the Securities Act within the limitation of the exemptions provided by Rule 144 promulgated under the
Securities Act, including providing any legal opinions relating to such sale pursuant to Rule 144. Upon the request of any Holder,
the Company shall deliver to such Holder a written certification of a duly authorized officer as to whether it has complied with
such requirements.

 

7.           Miscellaneous.

 

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

 

(b)           No
Inconsistent Agreements. Other than in connection with the Second Private Offering, the Company has not entered into, and
shall not enter into on or after the date of this Agreement, any agreement with respect to its securities that is inconsistent
with the rights granted to the Holders in this Agreement or otherwise conflicts with the provisions hereof. The Company has not
previously entered into any agreement that is currently in effect granting any registration rights with respect to any of its
securities to any Person, except as otherwise provided herein or as granted to the Placement Agent as defined under the Purchase
Agreement. Without limiting the generality of the foregoing and other than in connection with the Second Private Offering, without
the written consent of the Holders of a majority of the then outstanding Registrable Securities, the Company shall not grant to
any Person the right to request the Company to register any securities of the Company under the Securities Act unless the rights
so granted are subject in all respects to the prior rights in full of the Holders set forth herein, and are not otherwise in conflict
with the provisions of this Agreement.

 

    	 	13	 

    

    

 

(c)           No
Piggyback on Registrations for Other Securities. Neither the Company nor any of its security holders may include securities
of the Company in the Registration Statement, and the Company shall not after the date hereof enter into any agreement providing
such right to any of its security holders, unless the right so granted is subject in all respects to the prior rights in full
of the Holders set forth herein, and is not otherwise in conflict with the provisions of this Agreement.

 

(d)           Piggy-Back
Registrations for Registrable Securities. If at any time when there is not an effective Registration Statement covering the
Purchased Shares, the Company shall determine to prepare and file with the Commission a registration statement relating to an
offering for its own account or the account of others under the Securities Act of any of its equity securities, other than on
Form S-4 or Form S-8 (each as promulgated under the Securities Act) or their then equivalents relating to equity securities to
be issued solely in connection with any acquisition of any entity or business or equity securities issuable in connection with
stock option or other employee benefit plans, the Company shall send to each Holder of Registrable Securities written notice of
such determination and, if within ten (10) calendar days after receipt of such notice, or within such shorter period of time as
may be specified by the Company in such written notice as may be necessary for the Company to comply with its obligations with
respect to the timing of the filing of such registration statement, any such Holder shall so request in writing (which request
shall specify the Registrable Securities intended to be disposed of by the such Holder), the Company will cause the registration
under the Securities Act of all Registrable Securities which the Company has been so requested to register by the Holder, to the
extent requisite to permit the disposition of the Registrable Securities so to be registered, provided that if at any time after
giving written notice of its intention to register any securities and prior to the effective date of the registration statement
filed in connection with such registration, the Company shall determine for any reason not to register or to delay registration
of such securities, the Company may, at its election, give written notice of such determination to such Holder and, thereupon,
(i) in the case of a determination not to register, shall be relieved of its obligation to register any Registrable Securities
in connection with such registration (but not from its obligation to pay expenses in accordance with Section 4 hereof), and (ii)
in the case of a determination to delay registering, shall be permitted to delay registering any Registrable Securities being
registered pursuant to this Section 7(d) for the same period as the delay in registering such other securities. The Company shall
include in such registration statement all or any part of such Registrable Securities such Holder requests to be registered; provided,
however, that the Company shall not be required to register any Registrable Securities pursuant to this Section 7(d) that
are eligible for sale pursuant to Rule 144 of the Securities Act. In the case of an underwritten public offering, if the managing
underwriter(s) or underwriter(s) should reasonably object to the inclusion of the Registrable Securities in such registration
statement, then if the Company after consultation with the managing underwriter should reasonably determine that the inclusion
of such Registrable Securities would materially adversely affect the offering contemplated in such registration statement, and
based on such determination recommends inclusion in such registration statement of fewer or none of the Registrable Securities
of the Holders, then (x) the number of Registrable Securities of the Holders included in such registration statement shall be
reduced among such Holders based upon the number of Registrable Securities requested to be included in the registration
in the order set forth in Section 2(b) hereof, if the Company after consultation with the underwriter(s) recommends the inclusion
of fewer Registrable Securities, or (y) none of the Registrable Securities of the Holders shall be included in such registration
statement, if the Company after consultation with the underwriter(s) recommends the inclusion of none of such Registrable Securities;
provided, however, that if securities are being offered for the account of other persons or entities as well as
the Company, such reduction shall not represent a greater fraction of the number of Registrable Securities intended to be offered
by the Holders than the fraction of similar reductions imposed on such other persons or entities (other than the Company). For
purposes of this Section 7(d), Registrable Securities shall include any shares actually issued to the Purchasers pursuant to the
Securities Escrow Agreement.

 

    	 	14	 

    

    

 

(e)           Amendments
and Waivers. The provisions of this Agreement, including the provisions of this sentence, may not be amended, modified or
supplemented, and waivers or consents to departures from the provisions hereof may not be given, unless the same shall be in writing
and signed by the Company and the Holders of a majority of the then outstanding Registrable Securities.

 

(f)           Notices.
Unless otherwise provided herein, whenever notice is required to be given under this Agreement, such notice shall be given in
accordance with Section 7.9 of the Purchase Agreement.

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

 

(h)           Assignment
of Registration Rights. The rights of each Holder hereunder, including the right to have the Company register for resale Registrable
Securities in accordance with the terms of this Agreement, shall be automatically assignable by each Holder to any Person who
acquires all or a portion of the Warrants or the Registrable Securities if: (i) the Holder agrees in writing with the transferee
or assignee to assign such rights, and a copy of such agreement is furnished to the Company within a reasonable time after such
assignment, (ii) the Company is, within a reasonable time after such transfer or assignment, furnished with written notice of
(a) the name and address of such transferee or assignee, and (b) the securities with respect to which such registration rights
are being transferred or assigned, (iii) following such transfer or assignment the further disposition of such securities by the
transferee or assignees is restricted under the Securities Act and applicable state securities laws unless such securities are
registered in a Registration Statement under this Agreement (in which case the Company shall be obligated to amend such Registration
Statement to reflect such transfer or assignment) or are otherwise exempt from registration, (iv) at or before the time the Company
receives the written notice contemplated by clause (ii) of this Section, the transferee or assignee agrees in writing with the
Company to be bound by all of the provisions of this Agreement, and (v) such transfer shall have been made in accordance with
the applicable requirements of the Purchase Agreement. The rights to assignment shall apply to the Holders (and to subsequent)
successors and assigns.

 

    	 	15	 

    

    

 

(i)           Counterparts.
This Agreement may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original
and, all of which taken together shall constitute one and the same Agreement and shall become effective when counterparts have
been signed by each party and delivered to the other parties hereto, it being understood that all parties need not sign the same
counterpart. In the event that any signature is delivered by facsimile transmission, such signature shall create a valid binding
obligation of the party executing (or on whose behalf such signature is executed) the same with the same force and effect as if
such facsimile signature were the original thereof.

(j)           Governing
Law; Jurisdiction. This Agreement shall be governed by and construed in accordance with the internal laws of the State of
New York, without giving effect to any of the conflicts of law principles which would result in the application of the substantive
law of another jurisdiction. This Agreement shall not be interpreted or construed with any presumption against the party causing
this Agreement to be drafted. The Company and the Holders agree that venue for any dispute arising under this Agreement will lie
exclusively in the state or federal courts located in New York, NY, and the parties irrevocably waive any right to raise forum
non conveniens or any other argument that New York, NY is not the proper venue. The Company and the Holders irrevocably consent
to personal jurisdiction in the state and federal courts of the state of New York. The Company and the Holders consent to process
being served in any such suit, action or proceeding by mailing a copy thereof to such party at the address in effect for notices
to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof.
Nothing in this Section 7(j) shall affect or limit any right to serve process in any other manner permitted by law. The Company
and the Holders hereby agree that the prevailing party in any suit, action or proceeding arising out of or relating to this Agreement
or the Purchase Agreement, shall be entitled to reimbursement for reasonable legal fees from the non-prevailing party. The parties
hereby waive all rights to a trial by jury.

 

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

 

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

 

(m)           Headings.
The headings herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed to limit or affect
any of the provisions hereof.

 

    	 	16	 

    

    

 

(n)           Shares
Held by the Company and its Affiliates. Whenever the consent or approval of Holders of a specified percentage of Registrable
Securities is required hereunder, Registrable Securities held by the Company or its Affiliates (other than any Holder or transferees
or successors or assigns thereof if such Holder is deemed to be an Affiliate solely by reason of its holdings of such Registrable
Securities) shall not be counted in determining whether such consent or approval was given by the Holders of such required percentage.

 

(o)           Independent
Nature of Purchasers. The Company acknowledges that the obligations of each Purchaser under the Transaction Documents are
several and not joint with the obligations of any other Purchaser, and no Purchaser shall be responsible in any way for the performance
of the obligations of any other Purchaser under the Transaction Documents. The Company acknowledges that the decision of each
Purchaser to purchase Securities pursuant to the Purchase Agreement has been made by such Purchaser independently of any other
Purchaser and independently of any information, materials, statements or opinions as to the business, affairs, operations, assets,
properties, liabilities, results of operations, condition (financial or otherwise) or prospects of the Company or of its Subsidiaries
which may have been made or given by any other Purchaser or by any agent or employee of any other Purchaser, and no Purchaser
or any of its agents or employees shall have any liability to any Purchaser (or any other person) relating to or arising from
any such information, materials, statements or opinions. The Company acknowledges that nothing contained herein, or in any Transaction
Document, and no action taken by any Purchaser pursuant hereto or thereto (including, but not limited to, the (i) inclusion of
a Purchaser in the Registration Statement and (ii) review by, and consent to, such Registration Statement by a Purchaser) shall
be deemed to constitute the Purchasers as a partnership, an association, a joint venture or any other kind of entity, or create
a presumption that the Purchasers are in any way acting in concert or as a group with respect to such obligations or the transactions
contemplated by the Transaction Documents. The Company acknowledges that each Purchaser shall be entitled to independently protect
and enforce its rights, including without limitation, the rights arising out of this Agreement or out of the other Transaction
Documents, and it shall not be necessary for any other Purchaser to be joined as an additional party in any proceeding for such
purpose. The Company acknowledges that it has elected to provide all Purchasers with the same terms and Transaction Documents
for the convenience of the Company and not because it was required or requested to do so by the Purchasers. The Company acknowledges
that such procedure with respect to the Transaction Documents in no way creates a presumption that the Purchasers are in any way
acting in concert or as a group with respect to the Transaction Documents or the transactions contemplated hereby or thereby.

 

[REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK]

 

    	 	17	 

    

    

 

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

 

	 	REDWOOD
    SCIENTIFIC TECHNOLOGIES, INC.
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
    Chief     Executive Officer
	 	 	 
	 	PURCHASERS:
    
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

The
Purchasers have executed a Purchase Agreement with the Company which provides, among other things, that by executing the Purchase
Agreement, each Purchaser is deemed to have executed this Agreement in all respects and is bound to purchase the Units set forth
in the Purchase Agreement.

 

[Signature
Page to Registration Rights Agreement]

 

    	 	18	 

    

    

 

Schedule
I

Purchasers

 

	Purchaser	 	Address
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

     

    

    

 

Exhibit
A

Plan
of Distribution

 

The
selling security holders and any of their pledgees, donees, assignees and successors-in-interest may, from time to time, sell
any or all of their shares of common stock being offered under this prospectus on any stock exchange, market or trading facility
on which shares of our common stock are traded or in private transactions. These sales may be at fixed or negotiated prices. The
selling security holders may use any one or more of the following methods when disposing of shares:

 

		●	ordinary
                                         brokerage transactions and transactions in which the broker-dealer solicits purchasers;
	 	 	 
		●	block
                                         trades in which the broker-dealer will attempt to sell the shares as agent but may position
                                         and resell a portion of the block as principal to facilitate the transaction;
	 	 	 
		●	purchases
                                         by a broker-dealer as principal and resales by the broker-dealer for its account;
	 	 	 
		●	an
                                         exchange distribution in accordance with the rules of the applicable exchange;
	 	 	 
		●	privately
                                         negotiated transactions;
	 	 	 
		●	to
                                         cover short sales made after the date that the registration statement of which this prospectus
                                         is a part is declared effective by the Commission;
	 	 	 
		●	broker-dealers
                                         may agree with the selling security holders to sell a specified number of such shares
                                         at a stipulated price per share;
	 	 	 
		●	a
                                         combination of any of these methods of sale; and
	 	 	 
		●	any
                                         other method permitted pursuant to applicable law.

 

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

 

The
selling security holders may pledge their shares to their brokers under the margin provisions of customer agreements. If a selling
security holder defaults on a margin loan, the broker may, from time to time, offer and sell the pledged shares.

 

Broker-dealers
engaged by the selling security holders may arrange for other broker-dealers to participate in sales. Broker-dealers may receive
commissions or discounts from the selling security holders (or, if any broker-dealer acts as agent for the purchaser of shares,
from the purchaser) in amounts to be negotiated, which commissions as to a particular broker or dealer may be in excess of customary
commissions to the extent permitted by applicable law.

 

     

    

    

 

If
sales of shares offered under this prospectus are made to broker-dealers as principals, we would be required to file a post-effective
amendment to the registration statement of which this prospectus is a part. In the post-effective amendment, we would be required
to disclose the names of any participating broker-dealers and the compensation arrangements relating to such sales.

 

The
selling security holders and any broker-dealers or agents that are involved in selling the shares offered under this prospectus
may be deemed to be “underwriters” within the meaning of the Securities Act in connection with these sales. Commissions
received by these broker-dealers or agents and any profit on the resale of the shares purchased by them may be deemed to be underwriting
commissions or discounts under the Securities Act. Any broker-dealers or agents that are deemed to be underwriters may not sell
shares offered under this prospectus unless and until we set forth the names of the underwriters and the material details of their
underwriting arrangements in a supplement to this prospectus or, if required, in a replacement prospectus included in a post-effective
amendment to the registration statement of which this prospectus is a part.

 

The
selling security holders and any other persons participating in the sale or distribution of the shares offered under this prospectus
will be subject to applicable provisions of the Exchange Act, and the rules and regulations under that act, including Regulation
M. These provisions may restrict activities of, and limit the timing of purchases and sales of any of the shares by, the selling
security holders or any other person. Furthermore, under Regulation M, persons engaged in a distribution of securities are prohibited
from simultaneously engaging in market making and other activities with respect to those securities for a specified period of
time prior to the commencement of such distributions, subject to specified exceptions or exemptions. All of these limitations
may affect the marketability of the shares.

 

If
any of the shares of common stock offered for sale pursuant to this prospectus are transferred other than pursuant to a sale under
this prospectus, then subsequent holders could not use this prospectus until a post-effective amendment or prospectus supplement
is filed, naming such holders. We offer no assurance as to whether any of the selling security holders will sell all or any portion
of the shares offered under this prospectus.

 

We
have agreed to pay all fees and expenses we incur incident to the registration of the shares being offered under this prospectus.
However, each selling security holder and purchaser is responsible for paying any discounts, commissions and similar selling expenses
they incur.

 

We
and the selling security holders have agreed to indemnify one another against certain losses, damages and liabilities arising
in connection with this prospectus, including liabilities under the Securities Act.

 

     

    

    

 

Exhibit
B

Selling
Stockholder Notice and Questionnaire

 

The
undersigned understands that Redwood Scientific Technologies, Inc. (the “Company”) intends to file with the
Securities and Exchange Commission a registration statement on Form S-1 (the “Resale Registration Statement”)
for the registration and the resale under Rule 415 of the Securities Act of 1933, as amended (the “Securities Act”),
of the Registrable Securities in accordance with the terms of the Registration Rights Agreement entered into by the Company and
the undersigned (the “Agreement”). All capitalized terms not otherwise defined herein shall have the meanings
ascribed thereto in the Agreement.

 

In
order to sell or otherwise dispose of any Registrable Securities pursuant to the Resale Registration Statement, a holder of Registrable
Securities generally will be required to be named as a selling stockholder in the related prospectus or a supplement thereto (as
so supplemented, the “Prospectus”), deliver the Prospectus to purchasers of Registrable Securities (including
pursuant to Rule 172 under the Securities Act) and be bound by the provisions of the Agreement (including certain indemnification
provisions, as described below). Holders must complete and deliver this Notice and Questionnaire in order to be named as selling
stockholders in the Prospectus. Holders of Registrable Securities who do not complete, execute and return this Notice and Questionnaire
within ten (10) Business Days following the date of the Agreement (1) will not be named as selling stockholders in the Resale
Registration Statement or the Prospectus and (2) may not use the Prospectus for resales of Registrable Securities. 

 

Certain
legal consequences arise from being named as a selling stockholder in the Resale Registration Statement and the Prospectus. Holders
of Registrable Securities are advised to consult their own securities law counsel regarding the consequences of being named or
not named as a selling stockholder in the Resale Registration Statement and the Prospectus.

 

NOTICE

 

The
undersigned holder (the “Selling Stockholder”) of Registrable Securities hereby gives notice to the Company
of its intention to sell or otherwise dispose of Registrable Securities owned by it and listed below in Item (3), unless otherwise
specified in Item (3), pursuant to the Resale Registration Statement. The undersigned, by signing and returning this Notice and
Questionnaire, understands and agrees that it will be bound by the terms and conditions of this Notice and Questionnaire and the
Agreement.

 

The
undersigned hereby provides the following information to the Company and represents and warrants that such information is accurate
and complete:

 

     

    

    

 

QUESTIONNAIRE

 

		1.	Name.

 

	 	(a)	Full Legal Name of Selling Stockholder:
	 	 	 
	 	 	 

 

	 	(b)	Full Legal Name of Registered Holder (if not the same
as (a) above) through which Registrable Securities Listed in Item 3 below are held:
	 	 	 
	 	 	 

 

	 	(c)	Full Legal Name of Natural Control Person (which means
a natural person who directly or indirectly alone or with others has power to vote or dispose of the securities covered by the
questionnaire):
	 	 	 
	 	 	 

 

		2.	Address
                                         for Notices to Selling Stockholder:

 

	 
	 
	 

 

	Telephone: 	 

	Fax: 	 

	Contact Person: 	 

	E-mail address of Contact Person :	 

 

		3.	Beneficial
                                         Ownership of Registrable Securities:

 

	 	(a)	Type
    and Number of Registrable Securities beneficially owned:

 

 

 

 

 

 

 

	 	(b)	Number
    of shares of Common Stock to be registered pursuant to this Notice for resale:

 

 

 

 

 

 

 

     

    

    

 

		4.	Broker-Dealer
                                         Status:

 

	 	(a)	Are
    you a broker-dealer?

 

Yes
☐        No ☐

 

(b)          If
“yes” to Section 4(a), did you receive your Registrable Securities as compensation for investment banking services
to the Company?

 

Yes
☐        No ☐

 

	Note:	If
    no, the Commission’s staff has indicated that you should be identified as an underwriter in the Registration Statement.

 

	 	(c)	Are
    you an affiliate of a broker-dealer?

 

Yes
☐        No ☐

 

	 	Note:	If
    yes, provide a narrative explanation below:

 

 

 

	 	(d)	If
    you are an affiliate of a broker-dealer, do you certify that you bought the Registrable Securities in the ordinary course
    of business, and at the time of the purchase of the Registrable Securities to be resold, you had no agreements or understandings,
    directly or indirectly, with any person to distribute the Registrable Securities?

 

Yes
☐        No ☐

 

	 	Note:	If
    no, the Commission’s staff has indicated that you should be identified as an underwriter in the Registration Statement.

 

     

    

    

 

		5.	Beneficial
                                         Ownership of Other Securities of the Company Owned by the Selling Stockholder.

 

Except
as set forth below in this Item 5, the undersigned is not the beneficial or registered owner of any securities of the Company
other than the Registrable Securities listed above in Item 3.

 

			Type
                                         and amount of other securities beneficially owned:
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

		6.	Relationships
                                         with the Company:

 

Except
as set forth below, neither the undersigned nor any of its affiliates, officers, directors or principal equity holders (owners
of 5% of more of the equity securities of the undersigned) has held any position or office or has had any other material relationship
with the Company (or its predecessors or affiliates) during the past three years.

 

			State
                                         any exceptions here:
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

	7. 	Plan of Distribution:

 

The
undersigned has reviewed the form of Plan of Distribution attached as Exhibit A to the Agreement, and hereby confirms that, except
as set forth below, the information contained therein regarding the undersigned and its plan of distribution is correct and complete.

 

			State
                                         any exceptions here:
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

***********

 

The
undersigned agrees to promptly notify the Company of any inaccuracies or changes in the information provided herein that may occur
subsequent to the date hereof and prior to the effective date of any applicable Resale Registration Statement. All notices hereunder
shall be made in writing, by hand delivery, confirmed or facsimile transmission, first-class mail or air courier guaranteeing
overnight delivery at the address set forth below. In the absence of any such notification, the Company shall be entitled to continue
to rely on the accuracy of the information in this Notice and Questionnaire.

 

     

    

    

 

By
signing below, the undersigned consents to the disclosure of the information contained herein in its answers to Items (1) through
(7) above and the inclusion of such information in the Resale Registration Statement and the Prospectus. The undersigned understands
that such information will be relied upon by the Company in connection with the preparation or amendment of any such Registration
Statement and the Prospectus.

 

By
signing below, the undersigned acknowledges that it understands its obligation to comply, and agrees that it will comply, with
the provisions of the Exchange Act and the rules and regulations thereunder, particularly Regulation M in connection with any
offering of Registrable Securities pursuant to the Resale Registration Statement. The undersigned also acknowledges that it understands
that the answers to this Questionnaire are furnished for use in connection with Registration Statements filed pursuant to the
Agreement and any amendments or supplements thereto filed with the Commission pursuant to the Securities Act.

 

The
undersigned hereby acknowledges and is advised of the following Interpretation A.65 of the July 1997 SEC Manual of Publicly Available
Telephone Interpretations regarding short selling:

 

“An
Issuer filed a Form S-3 registration statement for a secondary offering of common stock which is not yet effective. One of the
selling stockholders wanted to do a short sale of common stock “against the box” and cover the short sale with registered
shares after the effective date. The issuer was advised that the short sale could not be made before the registration statement
become effective, because the shares underlying the short sale are deemed to be sold at the time such sale is made. There would,
therefore, be a violation of Section 5 if the shares were effectively sold prior to the effective date.”

 

By
returning this Questionnaire, the undersigned will be deemed to be aware of the foregoing interpretation.

 

I
confirm that, to the best of my knowledge and belief, the foregoing statements (including without limitation the answers to this
Questionnaire) are correct.

 

IN
WITNESS WHEREOF the undersigned, by authority duly given, has caused this Questionnaire to be executed and delivered either in
person or by its duly authorized agent.

 

	Dated: _____________________	Beneficial
    Owner: ______________
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:

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