Document:

FIRST AMENDMENT TO

LOAN AND SECURITY AGREEMENT

(TERM LOAN AND REVOLVING LOAN)

 

This FIRST AMENDMENT
TO LOAN AND SECURITY AGREEMENT (this “Amendment”), entered into on August 2, 2013 (the “Execution
Date”) with an effective date as of June 30, 2013 (the “Effective Date”), is entered into by and among
THIRD SECURITY SENIOR STAFF 2008 LLC, as administrative agent (the “Agent”), and a lender, the other
lenders party hereto (collectively, the “Lenders”), and TRANSGENOMIC, INC., a Delaware corporation (the
“Borrower”).

 

WHEREAS, the
Borrower, the Agent and the Lenders are party to that certain Loan and Security Agreement (Term Loan and Revolving Loan), dated
as of March 13, 2013 (as amended, restated, supplemented, or otherwise modified from time to time, the “Loan Agreement”),
whereby the Lenders have extended to the Borrower a loan facility pursuant to the Loan Agreement on the terms and subject to the
conditions contained therein; and

 

WHEREAS, the
Borrower has requested that the Agent and the Lenders, and the Agent and the Lenders have agreed to, subject to the terms and conditions
set forth in this Amendment, amend certain provisions of the Loan Agreement, effective as of the Effective Date.

 

NOW, THEREFORE,
in consideration of the foregoing premises, and other good and valuable consideration, the receipt and legal sufficiency of which
are hereby acknowledged, the parties hereto hereby agree as follows:

 

1.          Definitions.
Unless otherwise defined herein, capitalized terms used herein shall have the meanings assigned to them in the Loan Agreement.

 

2.          Amendments
to the Loan Agreement. Effective as of the Effective Date, the Loan Agreement is amended as follows:

 

(a)          Section
2.8(a) of the Loan Agreement is amended by deleting the existing text of such subsection in its entirety and inserting, in lieu
thereof, the following:

 

Advances.
Subject to Section 2.8(b), the principal amount outstanding under the Revolving Line shall accrue interest at a floating per annum
rate equal to the greater of (i) (x) the Prime Rate plus (y) three percent (3.00%) and (ii) 6.25%, which interest shall
be payable monthly in accordance with Section 2.8(d) below.

 

(b)          Section
6.2(a) of the Loan Agreement is amended by deleting the existing text of such subsection in its entirety and inserting, in lieu
thereof, the following:

  

Monthly Financial Statements. As soon as available, but no later
than thirty (30) days after the last day of each month (or thirty-three (33) days after the last day of the month of June 2013),
a company prepared consolidated balance sheet and income statement covering Borrower’s and each of its Subsidiary’s
operations for such month, certified by a Responsible Officer and in a form acceptable to the Lenders (the “Monthly Financial
Statements”);

 

    	 

    	 

    

 

(c)          Section
6.2(b) of the Loan Agreement is amended by deleting the existing text of such subsection in its entirety and inserting, in lieu
thereof, the following:

 

Monthly
Compliance Certificate. Within thirty (30) days after the last day of each month (or thirty-three (33) days after the last
day of the month of June 2013) and together with the Monthly Financial Statements, a duly completed Compliance Certificate signed
by a Responsible Officer, certifying that as of the end of such month, Borrower was in full compliance with all of the terms and
conditions of this Agreement, and setting forth calculations showing compliance with the financial covenants set forth in this
Agreement and such other information as the Lenders may reasonably request, together with a statement that at the end of such month
there were no held checks;

 

(d)          Section
6.9(b) of the Loan Agreement is amended by deleting the existing text of such subsection in its entirety and inserting, in lieu
thereof, the following:

 

Minimum
Net Revenue. Achieve at least the amounts set forth below during the applicable periods.

 

	Six Month Period Ending	Net Revenue
	March 31, 2013	$14,666,000
	April 30, 2013	$15,275,000
	May 31, 2013	$14,955,000
	June 30, 2013	$14,679,000
	July 31, 2013	$14,296,000
	August 31, 2013	$14,096,000
	September 30, 2013	$13,806,000
	October 31, 2013	$13,724,000
	November 30, 2013	$14,362,000
	December 31, 2013	$15,329,000
	January 31, 2014	$16,203,000
	February 28, 2014	$16,877,000
	March 31, 2014	$17,075,000
	April 30, 2014	$17,230,000
	May 31, 2014	$17,238,000
	June 30, 2014	$17,102,000
	July 31, 2014	$17,313,000
	August 31, 2014	$17,525,000
	September 30, 2014	$17,807,000
	October 31, 2014	$18,025,000
	November 30, 2014	$18,244,000
	December 31, 2014	$18,446,000

 

For each monthly period
in each fiscal year ending thereafter, the minimum revenue, measured on a trailing six-month basis, shall be based on an amount
that is equal to the greater of (i) eighty-five percent (85%) of the board approved Annual Financial Projections applicable to
such monthly period in such fiscal year and (ii) $18,446,000.

 

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3.          Conditions
Precedent. The effectiveness of this Amendment is subject to the satisfaction of the following conditions precedent:

 

(a)          receipt
by the Agent of a copy of this Amendment, duly executed and delivered by the Borrower and the Required Lenders;

 

(b)          receipt
by the Agent of a copy of (i) a company prepared consolidated balance sheet and income statement covering Borrower’s and
each of its Subsidiary’s operations for the month of June 2013, certified by a Responsible Officer and in a form acceptable
to the Lenders and (ii) a duly completed Compliance Certificate signed by a Responsible Officer, certifying that as of the end
of the month of June 2013, Borrower was in full compliance with all of the terms and conditions of the Loan Agreement, and setting
forth calculations showing compliance with the financial covenants set forth in the Loan Agreement and such other information as
the Lenders may reasonably request, together with a statement that at the end of such month there were no held checks;

 

(c)          receipt
by the Agent of any other documents or agreements reasonably requested by the Agent in connection with the transactions contemplated
by this Amendment;

 

(d)          the
truth and accuracy of the representations and warranties contained in Section 5 of this Amendment; and

 

(e)          receipt
by the Lenders and the Agent of any fees and expenses due and payable on or before the Execution Date under the Loan Agreement
or this Amendment.

 

4.          Reaffirmation.
The Borrower hereby reaffirms each of the agreements, covenants, and undertakings set forth in the Loan Agreement and each and
every other Loan Document as of the Execution Date as if the Borrower was making said agreements, covenants and undertakings as
of the Execution Date.

 

5.          Representations,
Warranties, Covenants and Acknowledgments. To induce the Agent and Lenders to enter into this Amendment, the Borrower hereby:

 

(a)          represents
and warrants that (i) as of the Execution Date, all of the representations and warranties made or deemed to be made under the Loan
Documents are true and correct in all material respects (other than any representation or warranty that is qualified by materiality
or Material Adverse Effect, in which case such representation or warranty is true and correct in all respects) on and as of the
Execution Date to the same extent as though made on and as of the Execution Date, except to the extent such representations and
warranties specifically relate to an earlier date, in which case such representations and warranties were true and correct in all
material respects (other than any representation or warranty that is qualified by materiality or Material Adverse Effect, in which
case such representation or warranty was true and correct in all respects) on and as of such earlier date; (ii) as of the Effective
Date and the Execution Date, after giving effect to the terms of this Amendment, there exists no Default or Event of Default under
the Loan Agreement or any of the other Loan Documents; (iii) the Borrower has the corporate power and is duly authorized to enter
into, deliver and perform this Amendment; and (iv) this Amendment is the legal, valid and binding obligation of the Borrower enforceable
against the Borrower in accordance with its terms, except as may be limited by bankruptcy, insolvency, reorganization, moratorium
or similar laws relating to or limiting creditors’ rights generally or by equitable principles relating to enforceability;

 

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(b)          acknowledges
and agrees that (i) this Amendment does not and shall not create (nor shall the Borrower or any of its Subsidiaries rely upon the
existence of or claim or assert that there exists) any obligation of the Agent or any Lender to consider or agree to any further
consent, waiver or amendment with respect to any Loan Document and, in the event that the Agent or any Lender subsequently agrees
to consider any further consent, waiver or amendment with respect to any Loan Document, neither this Amendment nor any other conduct
of the Agent or any Lender shall be of any force or effect on the Agent’s or such Lender’s consideration or decision
with respect thereto, and neither the Agent nor any Lender shall have any further obligation whatsoever to consider or agree to
any further consent, waiver or amendment with respect to any Loan Document; and (ii) except as expressly set forth in this Amendment,
the Agent and each Lender reserves all of their respective rights pursuant to the Loan Agreement and all other Loan Documents;

 

(c)          further
acknowledges and agrees that the Agent’s and Lenders’ agreement to amend the specific matters addressed in this Amendment,
do not and shall not create (nor shall the Borrower or any of its Subsidiaries rely upon the existence of or claim or assert that
there exists) any obligation of the Agent or any Lender to consider or agree to any further waivers, consents or amendments and,
in the event that the Agent or any Lender subsequently agrees to consider any further waivers, consents or amendments, neither
this Amendment nor any other conduct of the Agent or any Lender shall be of any force or effect on the Agent’s or any Lender’s
consideration or decision with respect to any such requested consent;

 

(d)          further
acknowledges and agrees that no right of offset, defense, counterclaim, claim, cause of action or objection in favor of the Borrower
against any Lender exists arising out of or with respect to (i) this Amendment, the Loan Agreement or any other Loan Document,
or (ii) any other documents now or heretofore evidencing, securing or in any way relating to the foregoing; and

 

(e)          further
acknowledges and agrees that this Amendment shall be deemed a Loan Document for all purposes under the Loan Agreement and the other
Loan Documents.

 

6.          Effect
of Non-Compliance. To the extent any representation or warranty made herein shall be untrue in any material respect, such occurrence
shall be deemed an Event of Default pursuant to the terms of the Loan Agreement and the other Loan Documents.

 

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7.          Release;
Indemnitees.

 

(a)          In
further consideration of the execution of this Amendment by the Agent and each Lender, the Borrower, individually and on behalf
of its successors (including, without limitation, any trustees acting on behalf of the Borrower and any debtor-in-possession with
respect to the Borrower), assigns, subsidiaries and Affiliates, hereby forever releases the Agent, each Lender and their respective
successors, assigns, parents, subsidiaries, Affiliates, officers, employees, directors, agents and attorneys (collectively, the
“Releasees”) from any and all debts, claims, demands, liabilities, responsibilities, disputes, causes, damages,
actions and causes of actions (whether at law or in equity) and obligations of every nature whatsoever, whether liquidated or unliquidated,
whether known or unknown, matured or unmatured, fixed or contingent (collectively, “Claims”) that the Borrower
may have against the Releasees which arise from or relate to any actions which the Releasees may have taken or omitted to take
in connection with the Loan Agreement or the other Loan Documents prior to the Effective Date, including, without limitation, with
respect to the Obligations, any Collateral, the Loan Agreement, any other Loan Document and any third parties liable in whole or
in part for the Obligations. This provision shall survive and continue in full force and effect whether or not the Borrower shall
satisfy all other provisions of this Amendment, the Loan Documents or the Loan Agreement, including payment in full of all Obligations.

 

(b)          The
Borrower hereby further agrees to indemnify and hold the Releasees harmless with respect to any and all liabilities, obligations,
losses, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever incurred by the
Releasees, or any of them, whether direct, indirect or consequential, as a result of or arising from or relating to any proceeding
by, or on behalf of any Person, including, without limitation, officers, directors, agents, trustees, creditors, partners or shareholders
of the Borrower or any parent, Subsidiary or Affiliate of the Borrower, whether threatened or initiated, asserting any claim for
legal or equitable remedy under any statutes, regulation or common law principle arising from or in connection with the negotiation,
preparation, execution, delivery, performance, administration and enforcement of this Amendment. The foregoing indemnity shall
survive the payment in full of the Obligations and the termination of this Amendment, the Loan Agreement and the other Loan Documents.

 

8.          Effect;
Relationship of Parties. Except as expressly modified hereby, the Loan Agreement and each other Loan Document shall be and
remain in full force and effect as originally written, and shall constitute the legal, valid, binding and enforceable obligations
of the Borrower to the Agent and Lenders. The relationship of the Agent and Lenders, on the one hand, and the Borrower, on the
other hand, has been and shall continue to be, at all times, that of creditor and debtor and not as joint venturers or partners.
Nothing contained in this Amendment, any instrument, document or agreement delivered in connection herewith or in the Loan Agreement
or any of the other Loan Documents shall be deemed or construed to create a fiduciary relationship between or among the parties.

 

9.          Expenses.
The Borrower shall pay the Agent all of its actual, documented and reasonable costs and expenses in connection with the preparation,
negotiation, execution and enforcement of this Amendment in accordance with the Loan Agreement (including, without limitation,
all actual, documented and reasonable fees, expenses and disbursements of counsel to the Agent).

 

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10.          Miscellaneous.
This Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of
which, when so executed and delivered, shall be deemed to be an original and all of which counterparts, taken together, shall constitute
but one and the same instrument. This Amendment shall be binding upon and inure to the benefit of the successors and permitted
assigns of the parties hereto. California law governs this Amendment, without regard to principles of conflicts of law. This Amendment
embodies the entire agreement and understanding between the parties hereto with respect to the subject matter hereof and supersedes
all prior oral or written negotiations, agreements and understandings of the parties with respect to the subject matter hereof.
Time is of the essence of this Amendment.

 

[remainder of page intentionally blank]

 

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IN WITNESS WHEREOF,
the parties hereto have caused this Amendment to be executed on the Execution Date, effective as of the Effective Date.

 

	BORROWER:	 
	 	 
	TRANSGENOMIC, INC.	 
	 	 	 
	By:	/s/ M.P Colonnese	 
	Name:	 M.P Colonnese	 
	Title:	Executive Vice President	 
	 	 	 
	AGENT:	 
	 	 	 
	THIRD SECURITY SENIOR STAFF 2008 LLC	 
	As Agent for Lenders	 
	 	 	 
	 	 	 
	By	/s/ Randal J. Kirk	 
	Name:	Randal J. Kirk	 
	Title:	Manager, Third Security, LLC, which is	 
	 	the Manager of Third Security Senior	 
	 	Staff 2008 LLC	 
	 	 	 
	LENDERS:	 
	 	 	 
	THIRD SECURITY SENIOR STAFF 2008 LLC	 
	 	 	 
	By 	/s/ Randal J. Kirk	 
	 	Randal J. Kirk	 
	 	Manager, Third Security, LLC, which is the	 
	 	Manager of Third Security Senior Staff 2008 LLC	 
	 	 	 
	THIRD SECURITY STAFF 2010 LLC	 
	 	 	 
	By	/s/ Randal J. Kirk	 
	 	Randal J. Kirk	 
	 	Manager, Third Security, LLC, which is the	 
	 	Manager of Third Security Staff 2010 LLC	 
	 	 	 
	THIRD SECURITY INCENTIVE 2010 LLC	 
	 	 	 
	By	/s/ Randal J. Kirk	 
	 	Randal J. Kirk	 
	 	Manager, Third Security, LLC, which is the	 
	 	Manager of Third Security Incentive 2010 LLC	 

 

[Signature Page to First Amendment]Exhibit
10.1

COMMON
STOCK PURCHASE AGREEMENT

 

This Common Stock Purchase Agreement (this
“Agreement”) is dated as of August 2, 2013, between Majesco Entertainment Company, a Delaware corporation (the
“Company”), and Yair Goldfinger (the “Purchaser”).

 

WHEREAS, subject to the terms and conditions
set forth in this Agreement and pursuant to an effective registration statement under the Securities Act of 1933, as amended (the
“Securities Act”), the Company desires to issue and sell to the Purchaser, and the Purchaser desires to purchase
from the Company, securities of the Company as more fully described in this Agreement.

 

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

 

ARTICLE I.

DEFINITIONS

 

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

 

“Agreement”
shall have the meaning ascribed to such term in the Preamble to this Agreement.

 

“Board of Directors”
means the board of directors of the Company.

 

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

 

“Closing”
means the closing of the purchase and sale of the Shares pursuant to Section 2.1.

 

“Closing Date”
means the Trading Day on which all of the Transaction Documents have been executed and delivered by the applicable parties thereto,
and all conditions precedent to (i) the Purchaser’s obligations to pay the Purchase Price and (ii) the Company’s
obligations to deliver the Shares, in each case, have been satisfied or waived, but in no event later than the fifth Trading Day
following the date hereof.

 

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

 

“Common Stock”
means the common stock of the Company, par value $0.001 per share, and any other class of securities into which such securities
may hereafter be reclassified or changed.

 

“Company”
shall have the meaning ascribed to such term in the Preamble to this Agreement.

 

“Company Counsel”
means Thompson Hine LLP, with offices located at 335 Madison Ave., 12th Floor, New York, New York 10017.

 

“DWAC” shall
have the meaning ascribed to such term in Section 2.2(a)(ii).

 

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

 

“Liens” means
a lien, charge, security interest, encumbrance, right of first refusal, preemptive right or other restriction, other than restrictions
imposed by securities laws.

 

“Material Adverse Effect”
shall have the meaning ascribed to such term in Section 3.1(c).

 

“NASDAQ”
means The NASDAQ Capital Market.

 

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

 

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“Purchase Price”
shall have the meaning assigned to such term in Section 2.1.

 

“Purchaser”
shall have the meaning ascribed to such term in the Preamble to this Agreement.

 

“Prospectus”
means the base prospectus included in the Registration Statement, including the Prospectus Supplement and all other documents and
information deemed to be part of the Prospectus by incorporation by reference or otherwise, as amended from time to time.

 

“Prospectus Supplement”
means any supplement to the Prospectus complying with Rule 424(b) of the Securities Act, including the prospectus supplement
that will be filed with the Commission and delivered by the Company to the Purchaser at or prior to the Closing including the documents
incorporated by reference therein.

 

“Registration Statement”
means the effective registration statement with Commission file No. 333-173863 which registers the sale of the Shares to the
Purchaser, including all exhibits, financial schedules and all documents and information deemed to be part of the Registration
Statement by incorporation by reference or otherwise, as amended from time to time, including the information (if any) contained
in the Prospectus Supplement and deemed to be part thereof under the rules of the Securities Act.

 

“Required Approvals”
shall have the meaning ascribed to such term in Section 3.1(e).

 

“SEC Reports”
shall have the meaning ascribed to such term in Section 3.1(f).

 

“Securities Act”
shall have the meaning ascribed to such term in the Preamble to this Agreement..

 

“Shares”
shall have the meaning ascribed to such term in Section 2.1.

 

“Short Sales”
means all “short sales” as defined in Rule 200 of Regulation SHO under the Exchange Act (but shall not be deemed
to include the location and/or reservation of borrowable Common Stock).

 

“Subsidiary”
means any subsidiary of the Company as set forth on Exhibit 21.1 to the Company’s Annual Report on Form 10-K for
the year ended October 31, 2012, and shall, where applicable, also include any direct or indirect subsidiary of the Company
formed or acquired after the date hereof.

 

“Trading Day”
means a day on which the Common Stock is traded on NASDAQ.

 

“Transaction”
means the transactions contemplated under the Transaction Agreement.

 

“Transaction Agreement”
the Asset Purchase Agreement, dated August 6, 2013, entered into by and between Orid Media Limited, GMS Entertainment Limited,
and Yair Goldfinger Assets Limited.

 

“Transaction Documents”
means this Agreement and any other documents or agreements executed in connection with the transactions contemplated hereunder.

 

“Transfer Agent”
means American Stock Transfer & Trust Company, the current transfer agent of the Company.

 

ARTICLE II.

PURCHASE AND SALE

 

2.1         
Closing.  On the Closing Date, upon the terms and subject to the conditions set forth herein, the Company agrees to
sell, and the Purchaser agrees to purchase, 3,333,333 shares of Common Stock (the “Shares”), at a purchase price
of $.60 per share, for an aggregate purchase price of $2,000,000 (the “Purchase Price”).  The Purchaser
shall deliver to the Company, via wire transfer or a certified check, immediately available funds equal to the Purchase Price and
the Company shall deliver to the Purchaser the Shares as set forth in Section 2.2(a)(iii) below. The Company and the Purchaser
shall also deliver the other items set forth in Section 2.2 deliverable at or prior to the Closing.  Upon satisfaction
of the covenants and conditions set forth in Sections 2.2 and 2.3, the Closing shall occur at the offices of Company Counsel or
such other location as the parties shall mutually agree. In the event the Closing Date has not occurred on or prior to the fifth
Trading Day following the date hereof due to a failure by the Company or the Purchaser to satisfy any of the applicable conditions
precedent, the obligations of the parties hereunder shall terminate.

 

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2.2       Deliveries.

 

(a)        On or prior to the Closing Date, the Company shall deliver or cause to be delivered to the Purchaser the following:

 

(i)          
this Agreement duly executed by the Company;

  

(ii)         
a copy of the irrevocable instructions to the Transfer Agent instructing the Transfer Agent to deliver via the Depository Trust
Company Deposit or Withdrawal at Custodian system (“DWAC”) the Shares, registered in the name of the Purchaser;
and

 

(iii)        
the Prospectus Supplement (which may be delivered in accordance with Rule 172 under the Securities Act).

 

(b)       
On or prior to the Closing Date, the Purchaser shall deliver or cause to be delivered to the Company the following:

 

(i)           this Agreement duly executed by the Purchaser; and

 

(ii)         
the Purchase Price by wire transfer to the account as specified in writing by the Company.

 

2.3      
Closing Conditions.

 

(a)       
The obligations of the Company hereunder in connection with the Closing are subject to the following conditions being met:

 

(i)          
the accuracy in all material respects when made and on the Closing Date of the representations and warranties of the Purchaser
contained herein (unless as of a specific date therein);

 

(ii)         
all obligations, covenants and agreements of the Purchaser required to be performed at or prior to the Closing Date shall have
been performed in all material respects; and

 

(iii)        
the delivery by the Purchaser of the items set forth in Section 2.2(b) of this Agreement.

 

(b)       
The obligations of the Purchaser hereunder in connection with the Closing are subject to the following conditions being met:

 

(i)          
the accuracy in all material respects when made and on the Closing Date of the representations and warranties of the Company contained
herein (unless as of a specific date therein);

 

(ii)         
all obligations, covenants and agreements of the Company required to be performed at or prior to the Closing Date shall have been
performed in all material respects; and

 

(iii)        
the delivery by the Company of the items set forth in Section 2.2(a) of this Agreement.

 

ARTICLE III.

REPRESENTATIONS AND
WARRANTIES

 

3.1      
Representations and Warranties of the Company.  Except as disclosed in the SEC Reports or the Registration Statement
and the Prospectus, the Company hereby makes the following representations and warranties to the Purchaser:

 

(a)       
Organization.  The Company and each of the Subsidiaries is an entity duly incorporated or otherwise organized, validly
existing and in good standing (where such concept is recognized) under the laws of the jurisdiction of its respective incorporation
or organization, with the requisite power and authority to own and use its properties and assets and to carry on its business as
currently conducted and as described in the Prospectus.  Neither the Company nor any Subsidiary is in violation nor default
of any of the provisions of its respective certificate or articles of incorporation, bylaws or other organizational or charter
documents. 

 

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(b)       Authorization; Enforcement.  The Company has the requisite corporate power and authority to enter into and to consummate
the transactions contemplated by each of the Transaction Documents and otherwise to carry out its obligations hereunder and thereunder. 
The execution and delivery of each of the Transaction Documents by the Company and the consummation by it of the transactions contemplated
hereby and thereby have been duly authorized by all necessary action on the part of the Company and no further action is required
by the Company, the Board of Directors or the Company’s stockholders in connection therewith other than in connection with
the Required Approvals, which will be obtained by the Company on or prior to the Closing Date.  Each Transaction Document
to which it is a party has been (or upon delivery will have been) duly executed by the Company and, when delivered in accordance
with the terms hereof and thereof, assuming due authorization, execution and delivery by the Purchaser hereof and thereof, will
constitute the valid and binding obligation of the Company enforceable against the Company in respect of the Purchaser in accordance
with its terms, except (i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization,
moratorium and other laws of general application affecting enforcement of creditors’ rights generally, (ii) as limited
by laws relating to the availability of specific performance, injunctive relief or other equitable remedies and (iii) insofar
as indemnification and contribution provisions may be limited by applicable law or public policy.

 

(c)       
No Conflicts.  The execution, delivery and performance by the Company of the Transaction Documents, the issuance and
sale of the Shares and the consummation by it of the transactions contemplated hereby and thereby to which it is a party do not
and will not (i) conflict with or violate any provision of the Company’s or any Subsidiary’s respective certificate
or articles of incorporation, bylaws or other organizational or charter documents, or (ii) conflict with, or constitute a
default (or an event that with notice or lapse of time or both would become a default) under, result in the creation of any Lien
upon any of the properties or assets of the Company or any Subsidiary, or give to others any rights of termination, amendment,
acceleration or cancellation (with or without notice, lapse of time or both) of, any agreement, credit facility, debt or other
instrument (evidencing a Company or Subsidiary debt or otherwise) or other understanding to which the Company or any Subsidiary
is a party or by which any property or asset of the Company or any Subsidiary is bound or affected, or (iii) subject to the
Required Approvals, conflict with or result in a violation of any law, rule, regulation, order, judgment, injunction, decree or
other restriction of any court or governmental authority to which the Company or a Subsidiary is subject (including federal and
state securities laws and regulations), or by which any property or asset of the Company or a Subsidiary is bound or affected;
except in the case of each of clauses (ii) and (iii), such as would not have or reasonably be expected to result in a material
adverse effect on the results of operations, assets, business or condition (financial or otherwise) of the Company and the Subsidiaries,
taken as a whole (a “Material Adverse Effect”).

 

(d)       Filings, Consents and Approvals.  The Company is not required to obtain any consent, waiver, authorization or order
of, or make any filing or registration with, any court or other federal, state, local or other governmental authority or other
Person in connection with the execution, delivery and performance by the Company of the Transaction Documents, other than: (i) the
filing required pursuant to Section 4.2 of this Agreement, (ii) the filing with the Commission of the Prospectus Supplement,
(iii) an application to NASDAQ for the listing of the Shares for trading thereon in the time and manner required thereby,
and (iv) any filings as are required to be made under applicable state securities laws or FINRA (collectively, the “Required
Approvals”).  All Required Approvals necessary for the transactions contemplated by the Transaction Documents, including
the delivery of the Shares to the Purchaser, will have been obtained by the Company on or prior to the Closing Date.

 

(e)       
Issuance of the Shares; Registration.  The Shares are duly authorized and, when issued, paid for and delivered in accordance
with this Agreement, will be duly and validly issued, fully paid and nonassessable, free and clear of all Liens imposed by the
Company and free and clear of any and all restrictions on transfer and shall not bear any restrictive legend of any kind. 
The Company has reserved from its duly authorized capital stock the maximum number of shares of Common Stock issuable pursuant
to this Agreement. The Registration Statement was declared effective on May 27, 2011.  The Registration Statement is
effective under the Securities Act and no stop order preventing or suspending the effectiveness of the Registration Statement or
suspending or preventing the use of the Prospectus has been issued by the Commission and no proceedings for that purpose have been
instituted or are threatened by the Commission.  Any required filing of the Prospectus Supplement will be made in the manner
and within the time period required by such Rule 424(b).  

 

(f)       
SEC Reports.  The Company has filed all reports, schedules, forms, statements and other documents required to be filed
by the Company under the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof, for the two years preceding
the date hereof (the foregoing materials, including the exhibits thereto and documents incorporated by reference therein, being
collectively referred to herein as the “SEC Reports”) on a timely basis or has received a valid extension of
such time of filing and has filed any such SEC Reports prior to the expiration of any such extension. 

 

3.2       Representations and Warranties of the Purchaser.  The Purchaser hereby represents and warrants as of the date hereof
and as of the Closing Date to the Company as follows (unless as of a specific date therein):

 

    	4

    	 

    

 

(a)           
Individual; Authority.  The Purchaser is a natural person and has the full power and authority to enter into
the Transaction Documents and to consummate the transactions contemplated by each of the Transaction Documents and otherwise carryout
his obligations hereunder and thereunder. This Agreement is a valid and binding obligation of the Purchaser enforceable against
him in accordance with its terms, except (i) as limited by general equitable principles and applicable
bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors’
rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief or other
equitable remedies and (iii) insofar as indemnification and contribution provisions may be limited by applicable law or public
policy.

 

(b)           
No Conflicts.  The execution, delivery and performance by the Purchaser of the Transaction Documents and the consummation
by it of the transactions contemplated hereby and thereby to which it is a party do not and will not (i) conflict with, or constitute
a default (or an event that with notice or lapse of time or both would become a default) under, result in the creation of any Lien
upon any of the properties or assets of the Purchaser, or give to others any rights of termination, amendment, acceleration or
cancellation (with or without notice, lapse of time or both) of, any agreement, credit facility, debt or other instrument (evidencing
a Purchaser debt or otherwise) or other understanding to which the Purchaser is a party or by which any property or asset of the
Purchaser is bound or affected, or (ii) conflict with or result in a violation of any law, rule, regulation, order, judgment,
injunction, decree or other restriction of any court or governmental authority to which the Purchaser is subject (including federal
and state securities laws and regulations), or by which any property or asset of the Purchaser is bound or affected, except in
the case of the foregoing, such as would not reasonably be expected to have a material adverse effect on the Purchaser’s
ability to perform in any material respect its obligations under any Transaction Documents.

 

(c)           
Certain Transactions and Confidentiality.  Other than consummating the transactions contemplated hereunder, the Purchaser
has not, nor has any Person acting on behalf of or pursuant
to any understanding with the Purchaser, directly or indirectly executed any purchases or sales, including Short Sales, of
the securities of the Company since the time that the Purchaser first came into possession of material non-public information about
the Company.  Other than to other Persons party to this Agreement and to representatives of the Purchaser, the Purchaser has
maintained the confidentiality of all disclosures of material non-public information about the Company made to him (including the
existence and terms of this transaction). Notwithstanding the foregoing, for avoidance of doubt, nothing contained herein shall
constitute a representation or warranty, or preclude any actions, with respect to the identification of the availability of, or
securing of, available shares to borrow in order to effect Short Sales or similar transactions in the future.

 

(d)           
Prospectus.  The Purchaser represents that it has received or can obtain on the Commission’s EDGAR filing system
at www.sec.gov the Prospectus, which is part of the Registration Statement.

 

ARTICLE IV.

OTHER AGREEMENTS OF
THE PARTIES

 

4.1       Integration. 
The Company shall not sell, offer for sale or solicit offers to buy or otherwise negotiate in respect of any security (as defined
in Section 2 of the Securities Act) that would be integrated with the offer or sale of the Shares for purposes of the rules and
regulations of NASDAQ such that it would require stockholder approval prior to the closing of such other transaction unless stockholder
approval is obtained before the closing of such subsequent transaction.

 

4.2       Securities Laws Disclosure.  The Company shall, within four Business Days following the date hereof, file a Report
on Form 8-K disclosing the material terms of the transactions contemplated hereby, which Form 8-K shall include this
Agreement and any other material Transaction Documents as exhibits thereto (the “Form 8-K”). 

 

4.3       Use of Proceeds.  The Company shall use the net proceeds from the sale of the Shares hereunder substantially as set
forth in the Prospectus Supplement.

 

4.4       Repurchase Right.  If the Transaction is not consummated pursuant to the terms of the Transaction Agreement (the “Transaction
Failure”), the Purchaser shall have the right to force the Company to repurchase the Shares purchased pursuant to this
Agreement; provided, however, the Purchaser may not sell any Shares after the Closing Date until the earlier of (a) the consummation
of the Transaction or (ii) the Expiration Date (as defined below). If the Purchaser elects to have the Company repurchase the Shares
pursuant to the terms of this Section 4.4, the Purchaser shall deliver notice of such repurchase election (the “Repurchase
Notice”) to the Company no later than ten (10) days after the Transaction Failure. The Purchaser’s right under
this Section 4.4 shall terminate on the tenth day following the date of the Transaction Failure (the “Expiration Date”).
Upon receipt of the Repurchase Notice, the Company shall deliver to the Purchaser, via wire transfer or certified check, immediately
available funds equal to the Purchase Price, and the Purchaser shall deliver to the Company irrevocable instructions authorizing
the Company to instruct the Transfer Agent to cancel the Shares issued to the Purchaser.

 

    	5

    	 

    

 

4.5       Resale Limitations.  Following expiration of the period the Purchaser is restricted on any resales contained in Section
4.4, the Purchaser shall not sell, transfer, convey or otherwise dispose of more than 500,000 of the Shares in any calendar quarter
thereafter; provided, however, the Purchaser shall not be subject to the restriction contained in this Section 4.5 so long as the
Common Stock is trading on the NASDAQ at $1.50 or higher at the time of any purported sale, transfer, conveyance or disposition.
The Purchaser may not carryover the number of Shares permitted to be sold, transferred, conveyed or otherwise disposed of in any
calendar quarter pursuant to this Section 4.5 to any subsequent quarter.

 

4.6       Certain Transactions and Confidentiality. The Purchaser covenants that it will not execute any purchases or sales, including
Short Sales of any of the Company’s securities during the period commencing with the execution of this Agreement and ending
at such time that the Purchaser no longer possesses material non-public information about the Company.  The Purchaser covenants
that until such time as all material non-public information about the Company which the Purchaser possesses is publicly disclosed
by the Company, the Purchaser will maintain the confidentiality of such material non-public information.  Notwithstanding
the foregoing and notwithstanding anything contained in this Agreement to the contrary, the Company expressly acknowledges and
agrees that (i) the Purchaser makes no representation, warranty or covenant hereby that it will not engage in effecting transactions
in any securities of the Company after the time that all material non-public information the Purchaser possesses about the Company
is publicly disclosed, (ii) the Purchaser shall not be restricted or prohibited from effecting any transactions in any securities
of the Company in accordance with applicable securities laws from and after the time that all material non-public information that
the Purchaser possesses about the Company is publicly disclosed and (iii) the Purchaser shall not have any duty of confidentiality
to the Company or its Subsidiaries after the time that all material non-public information that the Purchaser possesses about the
Company is publicly disclosed. 

 

ARTICLE V.

MISCELLANEOUS

 

5.1       Fees and Expenses.  Each party shall pay the fees and expenses of its advisers, counsel, accountants and other experts,
if any, and all other expenses incurred by such party incident to the negotiation, preparation, execution, delivery and performance
of this Agreement.  The Company shall pay all Transfer Agent fees, stamp taxes and other taxes and duties levied in connection
with the delivery of any Shares to the Purchaser.

 

5.2       Entire Agreement.  The Transaction Documents contain the entire understanding of the parties with respect to the subject
matter hereof and supersede all prior agreements and understandings, oral or written, with respect to such matters.

 

5.3       Notices.  Any and all notices or other communications or deliveries required or permitted to be provided hereunder
shall be in writing and shall be deemed given and effective on the earliest of: (a) the date of transmission, if such notice
or communication is delivered via facsimile or email at the facsimile number or email address set forth on the signature pages attached
hereto prior to 5:30 p.m. (New York City time) on a Trading Day, (b) the next Trading Day after the date of transmission,
if such notice or communication is delivered via facsimile or email at the facsimile number or email address set forth on the signature
pages attached hereto on a day that is not a Trading Day or later than 5:30 p.m. (New York City time) on any Trading
Day, (c) the second (2nd ) Trading Day following the date of mailing, if sent by U.S.
nationally recognized overnight courier service or (d) upon actual receipt by the party to whom such notice is required to
be given.  The address for such notices and communications shall be as set forth on the signature pages attached hereto.

 

5.4       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.

 

5.5       Successors and Assigns.  This Agreement has been and is made for the benefit of the Purchaser, the Company and their
respective successors and assigns.  The term “successors and assigns” shall not include any purchaser of Shares
from the Purchaser merely because of such purchase. Notwithstanding the foregoing or anything to the contrary herein, neither may
assign this Agreement without the prior written consent of the other party hereto.

 

5.6      
No Third-Party Beneficiaries.  This Agreement is intended for the benefit of the parties hereto and their respective
successors and permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other Person.

 

    	6

    	 

    

 

5.7      
Governing Law.  All questions concerning the construction, validity, enforcement and interpretation of the Transaction
Documents shall be governed by and construed and enforced in accordance with the internal laws of the State of New York, without
regard to the principles of conflicts of law thereof.  Each party agrees that all legal proceedings concerning the interpretations,
enforcement and defense of the transactions contemplated by this Agreement and any other Transaction Documents (whether brought
against a party hereto or its respective affiliates, directors, officers, shareholders, employees or agents) shall be commenced
exclusively in the state and federal courts sitting in the State of New York. Each party hereby irrevocably
submits to the exclusive jurisdiction of the state and federal courts sitting in the State of
New York for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or
discussed herein (including with respect to the enforcement of any of the Transaction Documents), and hereby irrevocably waives,
and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of
any such court, that such suit, action or proceeding is improper or is an inconvenient venue for such proceeding.  Each party
hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding
by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) 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 contained herein shall be deemed to limit in any way any right to serve process in
any other manner permitted by law.

 

5.8      
Execution.  This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered
one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other
party, it being understood that both parties need not sign the same counterpart.  In the event that any signature is delivered
by facsimile transmission or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and
binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if
such facsimile or “.pdf” signature page were an original thereof.

 

5.9      
Severability.  If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction
to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein
shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use
their commercially 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.

 

5.10    
Remedies.  In addition to being entitled to exercise all rights provided herein or granted by law, including recovery
of damages, the Purchaser and the Company will be entitled to specific performance under the Transaction Documents.  The parties
agree that monetary damages may not be adequate compensation for any loss incurred by reason of any breach of obligations contained
in the Transaction Documents and hereby agree to waive and not to assert in any action for specific performance of any such obligation
the defense that a remedy at law would be adequate.

 

5.11    
Saturdays, Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any
right required or granted herein shall not be a Business Day, then such action may be taken or such right may be exercised on the
next succeeding Business Day.

 

5.12    
Construction. The parties agree that each of them and/or their respective counsel has reviewed and had an opportunity to
revise the Transaction Documents and, therefore, the normal rule of construction to the effect that any ambiguities are to
be resolved against the drafting party shall not be employed in the interpretation of the Transaction Documents or any amendments
hereto.

 

5.13     WAIVER
OF JURY TRIAL.  IN ANY ACTION, SUIT, OR PROCEEDING IN ANY JURISDICTION BROUGHT BY ANY PARTY AGAINST ANY OTHER PARTY,
THE PARTIES EACH KNOWINGLY AND INTENTIONALLY, TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY ABSOLUTELY, UNCONDITIONALLY, IRREVOCABLY
AND EXPRESSLY WAIVES FOREVER TRIAL BY JURY.

 

(Signature Pages Follow)

 

    	7

    	 

    

 

 

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

 

	MAJESCO ENTERTAINMENT COMPANY	 	Address for Notice:
	 	 	 
	 	 	 
	By:	 	 	Majesco Entertainment Company
	 	Name: 	 	160 Raritan Center Parkway 
	 	Title: 	 	Edison, NJ 08837
	 	 	 	Attn:	Adam Sultan
	 	 	 	 	General Counsel
	 	 	 	Fax: (732) 225-5451
	 	 	 	Email: asultan@majescoent.com
	With a copy to (which shall not constitute notice):	 	 
	 	 	 	Thompson Hine LLP
	 	 	 	335 Madison Avenue, 12th Floor
	 	 	 	New York, NY 10017
	 	 	 	Attn: Todd E. Mason
	 	 	 	Fax: 212-344-6101
	 	 	 	Email: todd.mason@ thompsonhine.com

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK

SIGNATURE PAGE FOR PURCHASER FOLLOWS]

 

    	 

    	 

    

 

 

 

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

 

	 	 	Address for Notice:	 
	 	 	 	 	 
	 	 	 	Yair Goldfinger	 
	 	Yair Goldfinger		c/o Raveh Ravid & Co.	 
	 	 	 	32 Habarzel Street	 
	 	 	 	Tel Aviv-Yafo, 69710

 Israel	 
	 	 	 	Fax: 	 	 
	 	 	 	Email: 	 	 
	With a copy to (which shall not constitute notice):	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	Attn: 	 	 
	 	 	 	Fax: 	 	 
	 	 	 	Email: 	 	 
	 	 	 	 	 	 	 

 

Address or DWAC Instructions for Delivery of Shares for Purchaser:

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