Document:

Tonix Pharmaceuticals Holding Corp. 8-K

Exhibit 10.02

 

REGISTRATION RIGHTS AGREEMENT

 

REGISTRATION RIGHTS AGREEMENT
(this “Agreement”), dated as of December 3, 2021, by and between TONIX PHARMACEUTICALS HOLDING CORP.,
a Nevada corporation (the “Company”), and LINCOLN PARK CAPITAL FUND, LLC, an Illinois limited liability company
(together with its permitted assigns, the “Investor”). Capitalized terms used herein and not otherwise defined herein
shall have the respective meanings set forth in the Purchase Agreement by and between the parties hereto, dated as of the date hereof
(as amended, restated, supplemented or otherwise modified from time to time, the “Purchase Agreement”).

 

WHEREAS:

 

A.       Upon
the terms and subject to the conditions of the Purchase Agreement, (i) the Company has agreed to issue to the Investor,
and the Investor has agreed to purchase, up to Eighty Million Dollars ($80,000,000) of the Company's common stock, par value $0.001 per
share (the “Common Stock”), pursuant to the Purchase Agreement (such shares, the “Purchase Shares”), and
(ii) the Company has agreed to issue to the Investor 2,909,091 shares of Common Stock (the “Commitment Shares”) upon
the execution of the Purchase Agreement such number of shares of Common Stock as set forth in Section 5(e) of the Purchase Agreement;
 and

 

B.       To
induce the Investor to enter into the Purchase Agreement, the Company has agreed to provide certain registration rights under the Securities
Act of 1933, as amended, and the rules and regulations thereunder, or any similar successor statute (collectively, the “Securities
Act”), and applicable state securities laws.

 

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

 

1.       DEFINITIONS.

 

As used in this Agreement, the
following terms shall have the following meanings:

 

(a)               
“Base Prospectus” means the Company’s final base prospectus, dated May 5, 2021, a preliminary
form of which is included in the Registration Statement (defined below), including the documents and information incorporated by
reference therein.

 

(b)               
“Initial Prospectus Supplement” means the prospectus supplement of the Company dated December 3, 2021
relating to the Securities, including the accompanying Base Prospectus, to be prepared and filed by the Company with the SEC
pursuant to Rule 424(b) under the Securities Act and in accordance herewith, together with all documents and information
incorporated therein by reference.

 

(c)               
“Prospectus” means the Base Prospectus, as supplemented by any Prospectus Supplement (including the Initial Prospectus
Supplement), including the documents and information incorporated by reference therein.

 

(d)               
“Prospectus Supplement” means any prospectus supplement to the Base Prospectus (including the Initial Prospectus Supplement)
filed with the SEC pursuant to Rule 424(b) under the Securities Act in connection with the transactions contemplated by this Agreement,
including the documents and information incorporated by reference therein.

 

     

     

    

(e)               
 “Register,” “Registered,” and “Registration” refer to a registration effected
by preparing and filing one or more registration statements of the Company in compliance with the Securities Act and pursuant to Rule
415 under the Securities Act or any successor rule providing for offering securities on a continuous basis (“Rule 415”),
and the declaration or ordering of effectiveness of such registration statement(s) by the SEC.

 

(f)                
“Registrable Securities” means the Purchase Shares that may from time to time be issued or issuable to the Investor
upon purchases of the Available Amount under the Purchase Agreement (without regard to any limitation or restriction on purchases), the
Commitment Shares issued or issuable to the Investor, and any shares of capital stock issued or issuable with respect to the Purchase
Shares, the Commitment Shares or the Purchase Agreement as a result of any stock split, stock dividend, recapitalization, exchange or
similar event, without regard to any limitation on purchases under the Purchase Agreement.

 

(g)       “Registration
Statement” means the effective registration statement on Form S-3 (Commission File No. 333-254975) filed by the Company
with the SEC pursuant to the Securities Act for the registration of shares of its Common Stock, including the Securities, and certain
other securities of the Company, as such Registration Statement has been or may be amended and supplemented from time to time, including
the financial statements, exhibits and schedules thereto, and all other documents filed as part thereof or incorporated by reference
therein, and including all information deemed to be a part thereof at the time of effectiveness pursuant to Rule 430B of the Securities
Act, including (i) any registration statement filed by the Company pursuant to Rule 462(b) under the Securities Act in connection with
the transactions contemplated by the Transaction Documents and (ii) any comparable successor registration statement filed by the Company
with the SEC pursuant to the Securities Act for the registration of shares of its Common Stock, including the Securities.

 

2.       REGISTRATION.

 

(a)       Initial
Prospectus Supplement. The Company agrees that it shall, on the date hereof, file with the SEC the Initial Prospectus Supplement
pursuant to Rule 424(b) under the Securities Act, in the form agreed upon by the Investor prior to such filing, specifically
relating to the transactions contemplated by, and describing the material terms and conditions of, the Transaction Documents,
providing for the offer and sale of a total amount of Common Stock thereunder equal to the sum of (i) the full Available Amount
worth of Purchase Shares and (ii) all of the Commitment Shares, containing information previously omitted at the time of
effectiveness of the Registration Statement in reliance on Rule 430B under the Securities Act, and disclosing all information
relating to the transactions contemplated by the Transaction Documents required to be disclosed in the Registration Statement and
the Prospectus as of the date of the Initial Prospectus Supplement, including, without limitation, information required to be
disclosed in the section captioned “Plan of Distribution” in the Prospectus. The Investor acknowledges that it will be
identified in the Initial Prospectus Supplement as an underwriter within the meaning of Section 2(a)(11) of the Securities Act. The
Company shall permit the Investor and its counsel to review and comment upon a substantially complete pre-filing draft of the
Initial Prospectus Supplement at least one (1) Business Day prior to the date of its filing with the SEC, the Company shall give due
consideration to all such comments, and the Company shall not file the Initial Prospectus Supplement with the SEC in a form to which
the Investor reasonably objects. The Investor shall use its reasonable best efforts to comment upon such substantially complete
pre-filing draft of the Initial Prospectus Supplement within one (1) Business Day from the date the Investor receives such
substantially complete pre-filing draft thereof from the Company. The Investor shall furnish to the Company such information
regarding itself, the Securities held by it and the intended method of distribution thereof, including any arrangement between the
Investor and any other Person relating to the sale or distribution of the Securities, as shall be reasonably requested by the
Company in connection with the preparation and filing of the Initial Prospectus Supplement, and shall otherwise cooperate with the
Company as reasonably requested by the Company in connection with the preparation and filing of the Initial Prospectus Supplement
with the SEC.

 

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(b)       Effective
Registration Statement; Current Prospectus; Securities Law Compliance. The Company shall use its reasonable best efforts to keep
the Registration Statement effective pursuant to Rule 415 promulgated under the Securities Act, and to keep the Registration Statement
and the Prospectus current and available for issuances and sales of all of the Securities by the Company to the Investor, and for the
resale by the Investor, at all times until the earliest of (i) the date on which the Investor shall have sold all the Securities and
no Available Amount remains under the Purchase Agreement, (ii) thirty (30) days following the Maturity Date and (iii) ninety (90) days
following the termination of the Purchase Agreement in accordance with Section 11 of the Purchase Agreement (the “Registration
Period”). Without limiting the generality of the foregoing, during the Registration Period, the Company shall (a) take all
action necessary to continue to be required to file reports with the Commission pursuant to Section 13 or 15(d) of the Exchange Act,
shall comply with its reporting and filing obligations under the Exchange Act, and shall not take any action or file any document (whether
or not permitted by the Exchange Act) to terminate or suspend its reporting and filing obligations under the Exchange Act and (b) prepare
and file with the SEC, at the Company’s expense, such amendments (including, without limitation, post-effective amendments) to
the Registration Statement and such Prospectus Supplements pursuant to Rule 424(b) under the Securities Act, in each case, as may be
necessary to keep the Registration Statement effective pursuant to Rule 415 promulgated under the Securities Act, and to keep the Registration
Statement and the Prospectus current and available for issuances and sales of all of the Securities by the Company to the Investor, and
for the resale of all of the Securities by the Investor, at all times during the Registration Period (it being hereby acknowledged and
agreed that the Company shall prepare and file with the SEC, at the Company’s expense, immediately prior to the third (3rd)
anniversary of the initial effective date of the Registration Statement (the “Renewal Date”), a new Registration Statement
relating to the Securities, in a form satisfactory to the Investor and its counsel, and the Company shall use its reasonable best efforts
to cause such Registration Statement to be declared effective within 180 days after the Renewal Date). Without limiting the generality
of the foregoing, to the extent required under the Securities Act or under interpretations by the SEC thereof, as promptly as practicable
after the close of each of the Company’s fiscal quarters (or on such other dates as required under the Securities Act or under
interpretations by the SEC thereof), the Company shall prepare a Prospectus Supplement, which will set forth the number of Purchase Shares
sold to the Investor during such quarterly period (or other relevant period), the purchase price for such Purchase Shares and the net
proceeds received by the Company from such sales, and shall file such Prospectus Supplement with the SEC pursuant to Rule 424(b) under
the Securities Act (and within the time periods required by Rule 424(b) and Rule 430B under the Securities Act); provided, however,
that if any such quarterly Prospectus Supplement is not required to be filed under the Securities Act or under interpretations by the
SEC thereof, the Company shall disclose the information referenced in the immediately preceding sentence in its annual report on Form
10-K or its quarterly report on Form 10-Q (as applicable) in respect of the quarterly period that ended immediately before the filing
of such report in which sales of Purchase Shares were made to the Investor under the Purchase Agreement, and file such report with the
SEC within the applicable time period required by the Exchange Act. The Investor shall furnish to the Company such information regarding
itself, the Securities held by it and the intended method of distribution thereof as shall be reasonably requested by the Company in
connection with the preparation and filing of any such amendment to the Registration Statement (or new Registration Statement) or any
such Prospectus Supplement, and shall otherwise cooperate with the Company as reasonably requested by the Company in connection with
the preparation and filing of any such amendment to the Registration Statement (or new Registration Statement) or any such Prospectus
Supplement. The Company shall comply with all applicable federal, state and foreign securities laws in connection with the offer, issuance
and sale of the Securities contemplated by the Transaction Documents.

 

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3.       RELATED
OBLIGATIONS.

 

With respect to the Registration
Statement and the Prospectus, the Company shall use its reasonable best efforts to effect the registration of the Registrable Securities
in accordance with the intended method of disposition thereof and, pursuant thereto, the Company shall have the following obligations:

 

(a)               
Stop Orders. The Company shall advise the Investor promptly (but in no event later than 24 hours) and shall confirm such advice
in writing: (i) of the Company’s receipt of notice of any request by the SEC for amendment of or a supplement to the Registration
Statement, the Prospectus, any Prospectus Supplement or for any additional information; (ii) of the Company’s receipt of notice
of the issuance by the SEC of any stop order suspending the effectiveness of the Registration Statement or prohibiting or suspending
the use of the Prospectus or any Prospectus Supplement, or of the Company’s receipt of any notification of the suspension of qualification
of the Securities for offering or sale in any jurisdiction or the initiation or contemplated initiation of any proceeding for such purpose;
and (iii) of the Company becoming aware of the happening of any event, which makes any statement of a material fact made in the Registration
Statement, the Prospectus or any Prospectus Supplement untrue or which requires the making of any additions to or changes to the statements
then made in the Registration Statement, the Prospectus or any Prospectus Supplement in order to state a material fact required by the
Securities Act to be stated therein or necessary in order to make the statements then made therein (in the case of the Prospectus or
any Prospectus Supplement, in light of the circumstances under which they were made) not misleading, or of the necessity to amend the
Registration Statement or supplement the Prospectus or any Prospectus Supplement to comply with the Securities Act or any other applicable
laws. The Company shall not be required to disclose to the Investor the substance or specific reasons of any of the events set forth
in clauses (i) through (iii) of the immediately preceding sentence, but rather, shall only be required to disclose that the event has
occurred. The Company shall not deliver to the Investor any Regular Purchase Notice, Accelerated Purchase Notice or Additional Accelerated
Purchase Notice, and the Investor shall not be obligated to purchase any shares of Common Stock under the Purchase Agreement, during
the continuation or pendency of any of the foregoing events; provided, however, that the foregoing shall not affect the
Company’s or the Investor’s rights or obligations under the Purchase Agreement with respect to any then pending Regular Purchases,
Accelerated Purchases and Additional Accelerated Purchases, and the Company and the Investor shall complete their respective obligations
with respect to any such pending Regular Purchases, Accelerated Purchases and Additional Accelerated Purchases under the Purchase Agreement.
If at any time the SEC shall issue any stop order suspending the effectiveness of the Registration Statement or prohibiting or suspending
the use of the Prospectus or any Prospectus Supplement, the Company shall use its reasonable best efforts to obtain the withdrawal of
such order at the earliest possible time. The Company shall furnish to the Investor, without charge, a copy of any correspondence from
the SEC or the staff of the SEC to the Company or its representatives relating to the Registration Statement or the Prospectus, as the
case may be.

 

(b)       Investor
Review. Except as provided in this Agreement and other than periodic and current reports required to be filed pursuant to the Exchange
Act, the Company shall not file with the SEC any amendment to the Registration Statement or any supplement to the Prospectus that refers
to the Investor, the Transaction Documents or the transactions contemplated thereby (including, without limitation, any Prospectus Supplement
filed in connection with the transactions contemplated by the Transaction Documents), in each case with respect to which (a) the Investor
shall not previously have been advised and afforded the opportunity to review and comment thereon at least one (1) Business Day prior
to filing with the SEC, as the case may be, (b) the Company shall not have given due consideration to any comments thereon received from
the Investor or its counsel, or (c) the Investor shall reasonably object, unless the Company reasonably has determined that it is necessary
to amend the Registration Statement or make any supplement to the Prospectus to comply with the Securities Act or any other applicable
law or regulation, in which case the Company shall promptly (but in no event later than 24 hours) so inform the Investor, the Investor
shall be provided with a reasonable opportunity to review and comment upon any disclosure referring to the Investor, the Transaction
Documents or the transactions contemplated thereby, as applicable, and the Company shall expeditiously furnish to the Investor a copy
thereof. In addition, for so long as, in the reasonable opinion of counsel for the Investor, the Prospectus is required to be delivered
in connection with any acquisition or sale of Securities by the Investor, the Company shall not file any Prospectus Supplement with respect
to the Securities without furnishing to the Investor as many copies of such Prospectus Supplement, together with the Prospectus, as the
Investor may reasonably request.

 

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(c)       Prospectus
Delivery. The Company consents to the use of the Prospectus (and of each Prospectus Supplement thereto) in accordance with the provisions
of the Securities Act and with the securities or “blue sky” laws of the jurisdictions in which the Securities may be sold
by the Investor, in connection with the offering and sale of the Securities and for such period of time thereafter as the Prospectus
is required by the Securities Act to be delivered in connection with sales of the Securities. The Company will make available to the
Investor upon request, and thereafter from time to time will furnish to the Investor, as many copies of the Prospectus (and each Prospectus
Supplement thereto) as the Investor may reasonably request for the purposes contemplated by the Securities Act within the time during
which the Prospectus is required by the Securities Act to be delivered in connection with sales of the Securities. If during such period
of time any event shall occur that in the reasonable judgment of the Company and its counsel, or in the reasonable judgment of the Investor
and its counsel, is required to be set forth in the Registration Statement, the Prospectus or any Prospectus Supplement or should be
set forth therein in order to make the statements made therein (in the case of the Prospectus or any Prospectus Supplement, in light
of the circumstances under which they were made) not misleading, or if in the reasonable judgment of the Company and its counsel, or
in the reasonable judgment of the Investor and its counsel, it is otherwise necessary to amend the Registration Statement or supplement
the Prospectus or any Prospectus Supplement to comply with the Securities Act or any other applicable law or regulation, the Company
shall forthwith prepare and, subject to Section 3(b) above, file with the SEC an appropriate amendment to the Registration Statement
or an appropriate Prospectus Supplement and in each case shall expeditiously furnish to the Investor, at the Company’s expense,
such amendment to the Registration Statement or such Prospectus Supplement, as applicable, as may be necessary to reflect any such change
or to effect such compliance. The Company shall have no obligation to separately advise the Investor of, or deliver copies to the Investor
of, the SEC Documents, all of which the Investor shall be deemed to have notice of.

 

(i)       Delivery
of Shares. The Company shall cooperate with the Investor to facilitate the timely preparation and delivery of DWAC Shares (not bearing
any restrictive legend) representing the Registrable Securities to be offered pursuant to the Registration Statement and the Prospectus
and enable such DWAC Shares to be in such denominations or amounts as the Investor may reasonably request and registered in such names
as the Investor may request

 

(j)       Transfer
Agent. The Company shall at all times maintain the services of the Transfer Agent with respect to its Common Stock.

 

(k)       Approvals.
The Company shall use its reasonable best efforts to cause the Registrable Securities covered by any Registration Statement to be
Registered with or approved by such other governmental agencies or authorities in the United States as may be necessary to consummate
the disposition of such Registrable Securities.

 

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(l)       Confirmation
of Effectiveness. If reasonably requested in writing by the Investor at any time, the Company shall deliver to the Investor a written
confirmation from Company’s counsel of whether or not the effectiveness of such Registration Statement has lapsed at any time for
any reason (including, without limitation, the issuance of a stop order) and whether or not the Registration Statement is currently effective
and available to the Company for sale of all of the Registrable Securities..

 

(m)       Further
Assurances. The Company agrees to take all other reasonable actions as necessary and reasonably requested in writing by the Investor
to expedite and facilitate disposition by the Investor of Registrable Securities pursuant to any Registration Statement.

 

(n)       Transfer
Agent Instructions. On or before the date the Initial Prospectus Supplement is filed with the SEC, the Company shall issue to the
Transfer Agent the Irrevocable Transfer Agent Instructions in the form agreed to prior to the date hereof, and on the date any Registration
Statement which includes the Registrable Securities is ordered effective by the SEC, the Company shall deliver, and shall cause legal
counsel for the Company to deliver, to the Transfer Agent for such Registrable Securities (with copies to the Investor) confirmation
that such Registration Statement has been declared effective by the SEC. Thereafter, if requested by the Investor at any time, the Company
shall require its legal counsel to deliver to the Investor a written confirmation whether or not the effectiveness of such Registration
Statement has lapsed at any time for any reason (including, without limitation, the issuance of a stop order) and whether or not the
Registration Statement is current and available to the Investor for sale of all of the Registrable Securities.

 

4.       OBLIGATIONS
OF THE INVESTOR.

 

(a)       Investor
Information. The Investor has furnished to the Company in Exhibit A hereto such information regarding itself, the Registrable Securities
held by it, the Registrable Securities held by it and the intended method of disposition thereof, including any arrangement between the
Investor and any other Person relating to the sale or distribution of the Securities, as required to effect the registration of such
Registrable Securities and shall execute such documents in connection with such registration as the Company may reasonably request. The
Company shall notify the Investor in writing of any other information the Company reasonably requires from the Investor in connection
with any Registration Statement hereunder. The Investor will as promptly as practicable notify the Company of any material change in
the information set forth in Exhibit A, other than changes in its ownership of Common Stock.

 

(b)       Suspension
of Sales. The Investor agrees that, upon receipt of any notice from the Company of the existence of any suspension or stop order
as set forth in Section 3(a), the Investor will immediately discontinue disposition of Registrable Securities pursuant to any Registration
Statement covering such Registrable Securities until the Investor's receipt of the copies of a notice regarding the resolution or withdrawal
of the suspension or stop order as contemplated by Section 3(a). Notwithstanding anything to the contrary, the Company shall cause its
transfer agent to promptly deliver to the Investor DWAC Shares without any restrictive legend in accordance with the terms of the Purchase
Agreement in connection with any sale of Registrable Securities with respect to which the Investor has entered into a contract for sale
prior to the Investor’s receipt of a notice from the Company of the happening of any event of the kind described in Section 3(a)
and for which the Investor has not yet settled.

 

(c)       Investor
Cooperation. The Investor agrees to cooperate with the Company as reasonably requested by the Company in connection with the preparation
and filing of any amendments and supplements to any Registration Statement or the Prospectus hereunder.

 

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5.       EXPENSES
OF REGISTRATION.

 

All reasonable expenses of the
Company, other than sales or brokerage commissions and fees and disbursements of counsel for, and other expenses of, the Investor, incurred
in connection with registrations, filings or qualifications pursuant to Sections 2 and 3, including, without limitation, all registration,
listing and qualifications fees, printers and accounting fees, and fees and disbursements of counsel for the Company, shall be paid by
the Company.

 

6.       INDEMNIFICATION.

 

(a)       To the fullest
extent permitted by law, the Company will, and hereby does, indemnify, hold harmless and defend the Investor, each Person, if any, who
controls the Investor, the members, the directors, officers, partners, employees, agents, representatives of the Investor and each Person,
if any, who controls the Investor within the meaning of the Securities Act or the Securities Exchange Act of 1934, as amended (the "Exchange
Act") (each, an "Indemnified Person"), against any losses, claims, damages, liabilities, judgments, fines,
penalties, charges, costs, attorneys' fees, amounts paid in settlement or expenses, joint or several, (collectively, "Claims")
incurred in investigating, preparing or defending any action, claim, suit, inquiry, proceeding, investigation or appeal taken from the
foregoing by or before any court or governmental, administrative or other regulatory agency, body or the SEC, whether pending or threatened,
whether or not an indemnified party is or may be a party thereto ("Indemnified Damages"), to which any of them may become
subject insofar as such Claims (or actions or proceedings, whether commenced or threatened, in respect thereof) arise out of or are based
upon: (i) any untrue statement or alleged untrue statement of a material fact contained, or incorporated by reference, in the Registration
Statement or any amendment thereto or any omission or alleged omission to state therein, or in any document incorporated by reference
therein, a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) any untrue statement
or alleged untrue statement of a material fact contained, or incorporated by reference, in the Prospectus or any Prospectus Supplement,
or any omission or alleged omission to state therein, or in any document incorporated by reference therein, a material fact required
to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading,
or (iii) any violation or alleged violation by the Company or any of its Subsidiaries, affiliates, officers, directors or employees,
of the Securities Act, the Exchange Act, state securities or “Blue Sky” laws, or the rules and regulations of the Principal
Market relating to the offer or sale of the Registrable Securities pursuant to the Registration Statement or the Prospectus (the matters
in the foregoing clauses (i) through (iii) being, collectively, “Violations”). The Company shall reimburse each Indemnified
Person promptly as such expenses are incurred and are due and payable, for any reasonable out-of-pocket legal fees or other reasonable
expenses incurred by them in connection with investigating or defending any such Claim. Notwithstanding anything to the contrary contained
herein, the indemnification agreement contained in this Section 6(a): (A) shall not apply to a Claim by an Indemnified Person to the
extent, but only to the extent, arising out of or based upon any untrue statement or alleged untrue statement or omission or alleged
omission made in reliance upon and in conformity with written information furnished to the Company by or on behalf of the Investor expressly
for use in any Prospectus Supplement (it being hereby acknowledged and agreed that the written information set forth on Exhibit
A attached hereto, as the same may be updated from time to time in writing by the Investor, is the only written information furnished
to the Company by or on behalf of the Investor expressly for use in any Prospectus Supplement), if the Prospectus was timely made available
by the Company to the Investor pursuant to Section 3(c); (B) shall not be available to the extent such Claim is based on a failure of
the Investor to deliver, or to cause to be delivered, the Prospectus made available by the Company, if such Prospectus was theretofore
made available by the Company pursuant to Section 3(c), and if delivery of the Prospectus would have cured the defect giving rise to
such Claim; and (C) shall not apply to amounts paid in settlement of any Claim if such settlement is effected without the prior written
consent of the Company, which consent shall not be unreasonably withheld, delayed or conditioned. Such indemnity shall remain in full
force and effect regardless of any investigation made by or on behalf of the Indemnified Person and shall survive the transfer of the
Registrable Securities by the Investor pursuant to Section 8.

 

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(b)       In
connection with any Prospectus Supplement, the Investor agrees to indemnify, hold harmless and defend, to the same extent and in the
same manner as is set forth in Section 6(a), the Company, each of its directors, each of its officers who signed the Registration Statement,
and each Person, if any, who controls the Company within the meaning of the Securities Act or the Exchange Act (collectively and together
with an Indemnified Person, an “Indemnified Party”), against any Claim or Indemnified Damages to which any of them
may become subject, under the Securities Act, the Exchange Act or otherwise, insofar as such Claim or Indemnified Damages arise out of
or are based upon any Violation, in each case to the extent, and only to the extent, that such Violation occurs in reliance upon and
in conformity with written information about the Investor set forth on Exhibit A attached hereto (as the same may be updated
from time to time in writing by the Investor) and furnished to the Company by the Investor expressly for inclusion any Prospectus Supplement;
and, subject to Section 6(d), the Investor will reimburse any reasonable out-of-pocket legal or other expenses reasonably incurred by
them in connection with investigating or defending any such Claim; provided, however, that the indemnity agreement contained
in this Section 6(b) and the agreement with respect to contribution contained in Section 7 shall not apply to amounts paid in settlement
of any Claim if such settlement is effected without the prior written consent of the Investor, which consent shall not be unreasonably
withheld, delayed or conditioned; and provided, further, that the Investor shall be liable under this Section 6(b) for
only that amount of a Claim or Indemnified Damages as does not exceed the net proceeds to the Investor as a result of the sale of Registrable
Securities pursuant to such Registration Statement. Such indemnity shall remain in full force and effect regardless of any investigation
made by or on behalf of such Indemnified Party and shall survive the transfer of the Registrable Securities by the Investor pursuant
to Section 8.

 

(c)       Promptly after
receipt by an Indemnified Person or Indemnified Party under this Section 6 of notice of the commencement of any action or proceeding
(including any governmental action or proceeding) involving a Claim, such Indemnified Person or Indemnified Party shall, if a Claim in
respect thereof is to be made against any indemnifying party under this Section 6, deliver to the indemnifying party a written notice
of the commencement thereof, and the indemnifying party shall have the right to participate in, and, to the extent the indemnifying party
so desires, jointly with any other indemnifying party similarly noticed, to assume control of the defense thereof with counsel mutually
satisfactory to the indemnifying party and the Indemnified Person or the Indemnified Party, as the case may be; provided, however, that
an Indemnified Person or Indemnified Party shall have the right to retain its own counsel with the fees and expenses to be paid by the
indemnifying party, if, in the reasonable opinion of counsel retained by the indemnifying party, the representation by such counsel of
the Indemnified Person or Indemnified Party and the indemnifying party would be inappropriate due to actual or potential differing interests
between such Indemnified Person or Indemnified Party and any other party represented by such counsel in such proceeding. The Indemnified
Party or Indemnified Person shall cooperate with the indemnifying party in connection with any negotiation or defense of any such action
or claim by the indemnifying party and shall furnish to the indemnifying party all information reasonably available to the Indemnified
Party or Indemnified Person which relates to such action or claim. The indemnifying party shall keep the Indemnified Party or Indemnified
Person fully apprised as to the status of the defense or any settlement negotiations with respect thereto. No indemnifying party shall
be liable for any settlement of any action, claim or proceeding effected without its written consent, provided, however, that the indemnifying
party shall not unreasonably withhold, delay or condition its consent. No indemnifying party shall, without the consent of the Indemnified
Party or Indemnified Person, consent to entry of any judgment or enter into any settlement or other compromise which does not include
as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party or Indemnified Person of a release
from all liability in respect to such claim or litigation. Following indemnification as provided for hereunder, the indemnifying party
shall be subrogated to all rights of the Indemnified Party or Indemnified Person with respect to all third parties, firms or corporations
relating to the matter for which indemnification has been made. The failure to deliver written notice to the indemnifying party within
a reasonable time of the commencement of any such action shall not relieve such indemnifying party of any liability to the Indemnified
Person or Indemnified Party under this Section 6, except to the extent that the indemnifying party is prejudiced in its ability to defend
such action.

 

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(d)       The
indemnification required by this Section 6 shall be made by periodic payments of the amount thereof during the course of the investigation
or defense, as and when bills are received or Indemnified Damages are incurred. Any Person receiving a payment pursuant to this Section
6 which person is later determined to not be entitled to such payment shall return such payment to the person making it.

 

(e)       The
indemnity agreements contained herein shall be in addition to (i) any cause of action or similar right of the Indemnified Party or Indemnified
Person against the indemnifying party or others, and (ii) any liabilities the indemnifying party may be subject to pursuant to the law.

 

7.       CONTRIBUTION.

 

To the extent any indemnification
by an indemnifying party is prohibited or limited by law, the indemnifying party agrees to make the maximum contribution with respect
to any amounts for which it would otherwise be liable under Section 6 to the fullest extent permitted by law; provided, however, that:
(i) no seller of Registrable Securities guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities
Act) shall be entitled to contribution from any seller of Registrable Securities who was not guilty of fraudulent misrepresentation;
and (ii) contribution by any seller of Registrable Securities shall be limited in amount to the net amount of proceeds received by such
seller from the sale of such Registrable Securities.

 

8.       ASSIGNMENT
OF REGISTRATION RIGHTS.

 

The Company shall not assign this
Agreement or any rights or obligations hereunder without the prior written consent of the Investor; provided, however, that any transaction,
whether by merger, reorganization, restructuring, consolidation, financing or otherwise, whereby the Company remains the surviving entity
immediately after such transaction shall not be deemed an assignment. The Investor may not assign its rights under this Agreement without
the prior written consent of the Company, other than to an affiliate of the Investor controlled by Jonathan Cope or Josh Scheinfeld,
in which case the assignee must agree in writing to be bound by the terms and conditions of this Agreement.

 

		9.	AMENDMENT
                                            OR WAIVER OF REGISTRATION RIGHTS.

 

No provision of this Agreement
may be (i) amended other than by a written instrument signed by both parties hereto or (ii) waived other than in a written instrument
signed by the party against whom enforcement of such waiver is sought. Failure of any party to exercise any right or remedy under this
Agreement or otherwise, or delay by a party in exercising such right or remedy, shall not operate as a waiver thereof.

 

10.       MISCELLANEOUS.

 

(a)               
Holder. A Person is deemed to be a holder of Registrable Securities whenever such Person owns or is deemed to own of record such
Registrable Securities. If the Company receives conflicting instructions, notices or elections from two or more Persons with respect
to the same Registrable Securities, the Company shall act upon the basis of instructions, notice or election received from the registered
owner of such Registrable Securities.

 

    9 

     

    

 

(b)       Notices.
Any notices, consents, waivers or other communications required or permitted to be given under the terms of this Agreement must be in
writing and will be deemed to have been delivered: (i) upon receipt, when delivered personally; (ii) upon receipt, when sent by facsimile
or email (provided confirmation of transmission is mechanically or electronically generated and kept on file by the sending party); or
(iii) one (1) Business Day after deposit with a nationally recognized overnight delivery service, in each case properly addressed to
the party to receive the same. The addresses for such communications shall be:

 

If to the Company:

	 	Tonix Pharmaceuticals Holding Corp.	 
	 	26 Main Street, Suite 101	 
	 	Chatham, NJ 07928	 
	 	Telephone:	(862) 904-8182	 
	 	E-mail:	seth.lederman@tonixpharma.com	 
	 	Attention: 	Seth Lederman, MD	 
	 	 	President and Chief Executive Officer	 

 

With a copy to (which shall not constitute
notice or service of process):

	 	Lowenstein Sandler LLP	 
	 	One Lowenstein Drive	 
	 	Roseland, NJ 07068	 
	 	Telephone:	(973) 597-2900	 
	 	Facsimile:	(973) 597-2400	 
	 	E-mail:	sskolnick@lowenstein.com	 
	 	Attention: 	Steven M. Skolnick, Esq.	 

 

If to the Investor:

	 	Lincoln Park Capital Fund, LLC	 
	 	440 North Wells, Suite 410	 
	 	Chicago, IL 60654	 
	 	Telephone:	(312) 822-9300	 
	 	Facsimile:	(312) 822-9301	 
	 	E-mail:	jscheinfeld@lpcfunds.com/jcope@lpcfunds.com	 
	 	Attention: 	Josh Scheinfeld/Jonathan Cope	 

 

With a copy to (which shall not
constitute notice or service of process):

	 	Dorsey & Whitney
LLP	 
	 	51 West 52nd
Street	 
	 	New York, NY 10019	 
	 	Telephone:	(212) 415-9214	 
	 	Facsimile:	(212)
953-7201	 
	 	E-mail:	marsico.anthony@dorsey.com	 
	 	Attention: 	Anthony
J. Marsico, Esq.	 

 

or at such other address, email address and/or facsimile number and/or to
the attention of such other person as the recipient party has specified by written notice given to each other party three (3) Business
Days prior to the effectiveness of such change. Written confirmation of receipt (A) given by the recipient of such notice, consent, waiver
or other communication, (B) mechanically or electronically generated by the sender's facsimile machine or email account containing the
time, date, recipient facsimile number or email address, as applicable, and an image of the first page of such transmission or (C) provided
by a nationally recognized overnight delivery service, shall be rebuttable evidence of personal service, receipt by facsimile or receipt
from a nationally recognized overnight delivery service in accordance with clause (i), (ii) or (iii) above, respectively.

 

    10 

     

    

 

(c)       Governing
Law. The corporate laws of the State of Nevada shall govern all issues concerning the relative rights of the Company and its stockholders.
All other questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by the
internal laws of the State of Illinois, without giving effect to any choice of law or conflict of law provision or rule (whether of the
State of Illinois or any other jurisdictions) that would cause the application of the laws of any jurisdictions other than the State
of Illinois. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting the State of
Illinois, County of Cook, for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated
hereby or discussed herein, 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 brought in an inconvenient
forum or that the venue of such suit, action or proceeding is improper. 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 to such party at the address for
such 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 manner permitted by law. If any
provision of this Agreement shall be invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall not affect
the validity or enforceability of the remainder of this Agreement in that jurisdiction or the validity or enforceability of any provision
of this Agreement in any other jurisdiction. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST,
A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION HEREWITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION
CONTEMPLATED HEREBY.

 

(d)       Integration.
This Agreement, the Purchase Agreement and the other Transaction Documents constitute the entire understanding among the parties hereto
with respect to the subject matter hereof and thereof. There are no restrictions, promises, warranties or undertakings, other than those
set forth or referred to herein and therein. This Agreement, the Purchase Agreement and the other Transaction Documents supersede all
other prior oral or written agreements between the Investor, the Company, their affiliates and persons acting on their behalf with respect
to the subject matter hereof and thereof.

(e)       No
Third Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and any permitted successors and assigns
of the Company and, except as set forth in Section 9, is not for the benefit of, nor may any provision hereof be enforced by, any other
Person.

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

(g)       Counterparts.
This Agreement may be executed in two or more identical counterparts, all of which shall be considered one and the same agreement and
shall become effective when counterparts have been signed by each party and delivered to the other party; provided that a facsimile signature
or signature delivered by e-mail in a “.pdf” format data file, including any electronic signature complying with the U.S.
federal ESIGN Act of 2000, e.g., www.docusign.com, www.echosign.adobe.com, etc., shall be considered due execution and shall be binding
upon the signatory thereto with the same force and effect as if the signature were an original signature.

    11 

     

    

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

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

 

 

 

** Signature Page Follows **

 

 

    12 

     

    

 

IN WITNESS WHEREOF, the
parties have caused this Registration Rights Agreement to be duly executed as of day and year first above written.

 

 

THE COMPANY:

 

TONIX PHARMACEUTICALS HOLDING CORP.

 

 

By: /s/ Seth Lederman    

Name: Seth Lederman, MD

Title: President and Chief Executive Officer

 

 

INVESTOR:

 

LINCOLN PARK CAPITAL FUND, LLC

BY: LINCOLN PARK CAPITAL,
LLC

BY: ROCKLEDGE CAPITAL CORPORATION

 

 

By: /s/ Josh Scheinfeld    

Name: Josh Scheinfeld

Title: President

 

 

    13 

     

    

EXHIBIT A

 

Information About The Investor Furnished To The
Company By The Investor Expressly For Use In Connection With Each Registration Statement and Prospectus Supplement

 

 

Information With Respect to Lincoln Park Capital

 

As of the date of the Purchase Agreement, Lincoln
Park Capital Fund, LLC, beneficially owned 3,408,542 shares of our common stock. Josh Scheinfeld and Jonathan Cope, the Managing Members
of Lincoln Park Capital, LLC, the manager of Lincoln Park Capital Fund, LLC, are deemed to be beneficial owners of all of the shares
of common stock owned by Lincoln Park Capital Fund, LLC. Messrs. Cope and Scheinfeld have shared voting and investment power over the
shares being offered under the prospectus supplement filed with the SEC in connection with the transactions contemplated under the Purchase
Agreement. Lincoln Park Capital, LLC is not a licensed broker dealer or an affiliate of a licensed broker dealer.Exhibit 10.1

 

EXCHANGE AGREEMENT

 

THIS EXCHANGE AGREEMENT
(“Agreement”) is entered into as of November 29, 2021, by and between AiAdvertising, Inc., a Nevada corporation (the “Company”),
and Bountiful Capital, LLC, a Nevada limited liability company, (the “Investor”), with respect to the following facts:

 

R E C I T A L S

 

A.
The Company entered into loan transactions with the Investor in the aggregate principal amount of $683,100.00, as described below,
which were evidenced by a certain demand promissory note (the “Note”), copy of which is attached hereto as Exhibit A.

 

	Effective Date	 	Annual Interest	 	Outstanding Principal Balance
	February 17, 2021	 	5%	 	$ 683,100.00

 

B.
The Note is an unsecured demand promissory note with a maturity date of August 31, 2021 which has accrued interest of $140,295.00 as
of the date of this Agreement.

 

C.
The Investor desires to tender the Note to the Company for cancellation, including all outstanding principal, in exchange for the issuance
by the Company to the Investor  of 26,316,264 shares of common stock, (the “Stock”)
and $428,652 in cash.

 

D.
The Company desires to issue the Stock and pay the cash to the Investor in exchange for the cancellation of the Note.

 

E.
The closing of the transaction contemplated by this Agreement (the “Closing”) will be deemed to have occurred upon the completion
of the deliveries by each Party to this Agreement described in Section 2 of this Agreement.

 

NOW, THEREFORE,
for good and valuable consideration the receipt and sufficiency of which are hereby acknowledged by the parties to this Agreement, and
in light of the recitals stated above, the parties to this Agreement hereby agree as follows:

 

Section 1. EXCHANGE OF THE NOTE FOR CASH AND
COMMON STOCK

 

The Investor agrees
to tender the Note to the Company for cancellation in exchange for which the Company agrees to issue the Stock and cash to the
Investor. The Investor agrees that upon delivery of the Cash and Stock to the Investor, the Note shall be deemed fully paid and
satisfied, null and void and no interest, fees or principal shall be due thereon. In the event the Note is lost or destroyed, the Investor
hereby warrants that the Note is lost or destroyed and agrees to immediately surrender to the Company said Note should it later be found
and the Investor shall provide the Company with an affidavit of loss of said Note. The Investor hereby agrees to indemnify and hold harmless
the Company and its affiliates against all liability, costs, damages, claims or expenses which may be incurred by any of them as a result
of any claim to ownership of the lost Notes asserted by the Investor or by anyone other than Investor.

 

Section 2. DELIVERIES

 

2.1
The Company. The Company will issue and deliver the Stock and $428,652 in cash to the Investor upon the execution of this Agreement.

 

     

     

    

 

2.2
The Investor. The Investor will deliver the Note or an affidavit that said Note is paid in full upon the execution of this Agreement.
The Investor also agrees to deliver any other document reasonably requested by the Company that it deems necessary for the consummation
of the transactions contemplated by this Agreement.

 

Section 3. EQUITABLE RELIEF.

 

3.1
Damages Inadequate. Each party acknowledges that it would be impossible to measure in money the damages to the other party if
there is a failure to comply with any covenants or provisions of this Agreement, and agrees that in the event of any breach of any covenant
or provision, the other party to this Agreement will not have an adequate remedy at law.

 

3.2
Equitable Relief. It is therefore agreed that the other party to this Agreement who is entitled to the benefit of the covenants
or provisions of this Agreement which have been breached, in addition to any other rights or remedies which they may have, shall be entitled
to immediate equitable relief to enforce such covenants and provisions, and that in the event that any such action or proceeding is brought
in equity to enforce them, the defaulting or breaching party will not urge a defense that there is an adequate remedy at law.

 

Section 4. Investor Representation and
Warranty

 

4.1
Investor’s Representations and Warranties. As a material inducement to the Company to enter into this Agreement and consummate
the exchange, Investor represents warrants and covenants with and to the Company as follows:

 

		i.	Authorization and Binding Obligation. The Investor has the requisite legal capacity, power and
authority to enter into, and perform under, this Agreement, including with respect to canceling the note and receiving the Stock. The
execution, delivery and performance of this Agreement and performance by such Investor and the consummation by such Investor of the transactions
contemplated hereby and thereby have been duly authorized by all requisite corporate, partnership or similar action on the part of such
Investor and no further consent or authorization is required. This Agreement has been duly authorized, executed and delivered by the Investor.
This Agreement has been duly executed and delivered by the Investor, and constitute the legal, valid and binding obligations of the Investor,
enforceable against the Investor in accordance with their respective terms, except as such enforceability may be limited by general principles
of equity or applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting generally,
the enforcement of applicable creditors’ rights and remedies and except as rights to indemnification and to contribution may be limited
by federal or state securities laws.

 

		ii.	Beneficial Owner. With respect to the Note (i) the Investor owns, beneficially and of record, good
and marketable title to the Note, free and clear of any taxes or encumbrances; (ii) the Note is not subject to any transfer restriction,
other than the restriction that the Note not been registered under the Securities Act of 1933, as amended (the “1933 Act”)
and, therefore, cannot be resold unless registered under the 1933 Act or in a transaction exempt from or not subject to the registration
requirements of the 1933 Act; (iii) the Investor has not entered into any agreement or understanding with any person or entity to dispose
of the Note; and (iv) at the Closing, the Investor will convey to the Company good and marketable title to the Note, free and clear of
any security interests, liens, adverse claims, encumbrances, taxes or encumbrances.

 

		iii.	Accredited Investor. Such Investor is an accredited investor as defined in Rule 501(a) of Regulation
D, as amended, under the 1933 Act.

 

		iv.	Disclosure of Information. Such Investor has had an opportunity to receive all information related
to the Company requested by it and to ask questions of and receive answers from the Company regarding the Company, its business and the
terms and conditions of the offering of the Stock. Such Investor acknowledges receipt of copies of the Company’s most recent Annual
Report on Form 10-K for its last fiscal year and all other reports filed by the Company pursuant to the 1934 Act since the filing of the
10-K and prior to the date hereof.

 

		v.	Proceedings. No proceedings relating to the Note is pending or, to the knowledge of the Investor,
threatened before any court, arbitrator or administrative or governmental body that would adversely affect the Investor’s right
and ability to surrender and exchange the Note.

 

    2

     

    

 

		vi.	Tax Consequences. The Investor acknowledges that the contents this Agreement do not contain tax
advice and Investor acknowledges that it has not relied and will not rely upon the Company with respect to any tax consequences related
to the exchange of the Note and receipt of the Stock. The Investor assumes full responsibility for all such consequences and for the preparation
and filing of any tax returns and elections which may or must be filed in connection with such Note and/or the exchange of the Note for
the Stock.

 

		vii.	Reliance on Exemptions. The Investor understands that the Stock is
being offered and exchanged in reliance on specific exemptions from the registration requirements of United States federal and state securities
laws and that the Company is relying in part upon the truth and accuracy of, and the Investor’s compliance with, the representations,
warranties, agreements, acknowledgments and understandings of the Investor set forth herein and in order to determine the availability
of such exemptions and the eligibility of the Investor to acquire the Securities.

 

		viii.	Neither the Investor nor its agent or representative has engaged any broker
or finder or incurred any liability for any brokerage fees, commissions or finders’ fees in connection with the transactions contemplated
herein.

 

Section 5. MISCELLANEOUS

 

5.1
Further Assurances. The parties to this Agreement hereby agree to execute any other documents and take any further actions, which
are reasonably necessary or appropriate in order to implement the transactions contemplated by this Agreement.

 

5.2
Counterparts. This Agreement may be executed in several counterparts, each of which shall constitute an original and all of which,
when taken together, shall constitute one agreement.

 

5.3
Governing Law. This Agreement shall be construed in accordance with, and governed in all respects by, the laws of the State of
Nevada. The federal and state courts located in Clark County, Nevada shall have sole and exclusive subject matter jurisdiction over this
Agreement and the parties expressly consent to personal jurisdiction in Nevada for the purpose of resolving any dispute related to the
making or interpretation of this Agreement.

 

5.4
Successors and Assigns. This Agreement shall be binding upon the parties hereto and their respective heirs, successors and assigns,
if any, and shall inure to the benefit of the parties hereto and their respective heirs, successors and assigns, if any.

 

5.5
Severability. The provisions of this Agreement are severable and in the event that one or more of its provisions are deemed to
be unenforceable or invalid for any reason, such finding will not affect the enforceability or validity of any other provision of this
Agreement, which shall remain in full force and effect.

 

5.6
Public Disclosure. The Company and the Investor agree not to issue any public statement with respect to the transactions contemplated
hereunder without the other party’s prior written consent, except such disclosures as may be required under applicable law or under
any applicable order, rule or regulation.

 

5.7
Waiver. No failure or delay on the part of either party hereto in the exercise of any power, right or privilege hereunder shall
operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege preclude any other or further
exercise thereof or of any other power, right or privilege.

 

5.8
Entire Agreement. This Agreement sets forth the entire understanding of the parties hereto and supersedes all prior agreements
and understandings between the parties relating to the subject matter hereof.

 

5.9
Parties in Interest. None of the provisions of this Agreement or of any other document relating hereto is intended to provide
any rights or remedies to any person (including, without limitation, any employees or creditors of the Company) other than the parties
hereto and their respective heirs, successors and assigns, if any.

 

5.9
Authorized Signatures. Each party to this Agreement hereby represents that the persons signing below are duly authorized to execute
this Agreement on behalf of their respective party.

 

    3

     

    

 

IN WITNESS WHEREOF, the parties
hereto have caused this Agreement to be executed as of the date first above written.

 

	COMPANY:	 	AIADVERTISING, INC.
	 	 	 	 
	 	 	By:	/s/ Andrew Van Noy  
	 	 	 	Andrew Van Noy, Chief Executive Officer
	 	 	 	 
	INVESTOR:	 	BOUNTIFUL CAPITAL, LLC
	 	 	 	 
	 	 	By:	/s/ Greg Boden  
	 	 	 	Greg Boden, President

 

    4

     

    

 

EXHIBIT A

 

NOTE

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