Document:

Exhibit 10.1

 

 

 

SEPARATION AND CONSULTING AGREEMENT

 

THIS SEPARATION AND CONSULTING AGREEMENT
(this “Agreement”) dated as of December 29, 2017, and effective as of the Termination Date (as defined below),
is entered into by and between Sandy Spring Bancorp, Inc. (“Sandy Spring”), Sandy Spring Bank and Shaza L. Andersen
(“Ms. Andersen” and, together with Sandy Spring and Sandy Spring Bank, the “Parties”).

 

WHEREAS, Sandy Spring has entered
into that certain Agreement and Plan of Merger (the “Merger Agreement”) dated as of May 15, 2017, by and among
Sandy Spring, Touchdown Acquisition, Inc. (“Merger Sub”) and WashingtonFirst Bankshares, Inc. (“WashingtonFirst”),
pursuant to which Merger Sub will merge with and into WashingtonFirst, with WashingtonFirst as the surviving corporation, and immediately
thereafter, WashingtonFirst will merge with and into Sandy Spring, with Sandy Spring as the surviving corporation (together, the
“Mergers”, and the date of the closing of such Mergers, the “Closing Date”);

 

WHEREAS, Ms. Andersen is Party
to a second amended and restated employment agreement dated September 21, 2012, by and between WashingtonFirst Bank and Ms. Andersen
(the “Employment Agreement”), pursuant to which Ms. Andersen serves as the Chief Executive Officer of WashingtonFirst
Bank; and

 

WHEREAS, Sandy Spring and Ms. Andersen
desire to enter into this Agreement to set forth the Parties’ agreement as to Ms. Andersen’s entitlements and continuing
obligations in connection with her termination of employment with WashingtonFirst and WashingtonFirst Bank on the Termination Date
(as defined below) and service as a non-employee director of and consultant to Sandy Spring and Sandy Spring Bank thereafter.

 

NOW THEREFORE, in consideration
of the mutual covenants and agreements contained herein, and for other good and valuable consideration, the receipt and sufficiency
whereof is hereby acknowledged, the Parties hereto agree as follows:

 

1.                 
Termination of Employment.

 

(a)              
Termination Date. The Parties agree that the Closing Date shall be the last day of Ms. Andersen’s employment
with WashingtonFirst and WashingtonFirst Bank (the “Termination Date”) and that Ms. Andersen’s service
as the President and Chief Executive Officer of WashingtonFirst and Chief Executive Officer of WashingtonFirst Bank shall terminate
as of the Termination Date. Effective as of the Termination Date, Ms. Andersen shall resign from all positions she holds as an
officer, director, benefit plan trustee or otherwise with respect to WashingtonFirst and WashingtonFirst Bank or any of their subsidiaries.
It is intended that the Termination Date shall constitute Ms. Andersen’s “separation from service” from WashingtonFirst
and WashingtonFirst Bank within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (“Section
409A”). Ms. Andersen’s termination of employment shall be treated as a termination of her employment for Change
of Control for purposes of Section 5.3.2 of the Employment Agreement.

 

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(b)              
Cash Payment. Provided that Ms. Andersen has remained employed with WashingtonFirst and WashingtonFirst Bank to and
including the Closing Date, Sandy Spring shall cause the trustee of the grantor trust established, or to be established, by WashingtonFirst
to make a lump-sum cash payment from the grantor trust to Ms. Andersen in the amount of $1,818,708.00 (less any applicable withholdings,
and subject to Section 1(f) below) (the “Cash Payment”) to be paid on the first business day after the date
that is six (6) months following the Termination Date (or upon her death, if earlier).

 

(c)              
Health and Welfare Benefits Continuation. For a period of one (1) year after the Termination Date, Sandy Spring shall
pay all premiums under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”) for any COBRA continuation
coverage that Ms. Andersen may elect for herself and her family in accordance with applicable law.

 

(d)              
Accrued Pay; Unused Vacation; 2017 Bonus. Ms. Andersen shall receive a lump sum cash payment (less any applicable
withholdings) within ten (10) business days following the Termination Date in respect of her accrued but unpaid base salary and
any accrued but unused vacation days earned through the Termination Date. If the bonus for 2017 is not paid in the normal course
by WashingtonFirst prior to the Closing Date, Ms. Andersen shall receive a lump sum cash payment (less any applicable withholdings)
within ten (10) business days following the Termination Date in respect of her accrued but unpaid bonus for 2017.

 

(e)              
Treatment of Outstanding Equity Awards. Each outstanding Company Stock Option and Company Restricted Stock Award
(as defined in the Merger Agreement) held by Ms. Andersen as of the Termination Date shall be treated in accordance with the terms
of Section 1.10 of the Merger Agreement.

 

(f)               
Full Satisfaction. The payments and benefits provided in this Section 1, as well as Sections 4, 6 and 7 below, shall
be provided to Ms. Andersen in full satisfaction of her rights under the Employment Agreement in connection with her termination
of employment thereunder. Ms. Andersen’s obligations under Sections 4 and 21 of her Employment Agreement shall remain in
effect following the Termination Date, but Ms. Andersen’s obligations under Section 4 of her Employment Agreement shall cease
twelve (12) months after the Termination Date.

 

2.                 
Appointment to the Board of Directors.

 

(a)              
Appointment. Effective as of the Termination Date, Sandy Spring shall, and shall cause Sandy Spring Bank, to appoint
Ms. Andersen to the Board of Directors of Sandy Spring and Sandy Spring Bank, in each case, to the class of directors to be reasonably
determined by Sandy Spring and Sandy Spring Bank. In addition, Sandy Spring Bank shall appoint Ms. Andersen as the Vice Chair of
Sandy Spring Bank and to the Executive Committee of the Board.

 

(b)              
Compensation for Board Service. Ms. Andersen shall be eligible to receive compensation as a non-employee director
of Sandy Spring and Sandy Spring Bank following her appointment to the Board of Directors of Sandy Spring and Sandy Spring Bank
in accordance with Sandy Spring’s non-employee director compensation program as then in effect, pro-rated for any portion
of the year for which she did not serve as a non-employee director.

 

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3.                 
Consulting Services.

 

(a)              
Services. For the period beginning on the day following the Termination Date and expiring on the date that is twelve
(12) months following the Closing Date (the “Consulting Period”), Ms. Andersen shall provide the following services
to Sandy Spring and Sandy Spring Bank (the “Services”):

 

(i)             
Ms. Andersen shall provide services and advice regarding the integration and transition planning and implementation related
to the Mergers contemplated by the Merger Agreement; and

 

(ii)          
Ms. Andersen shall provide such other services as may be reasonably requested by Sandy Spring from time to time.

 

Notwithstanding the foregoing, Ms. Andersen
shall not be required to provide the Services for more than one (1) day per week during any part of the Consulting Period. It is
the intent of the Parties that the Services shall not exceed twenty percent (20%) of the average level of services that Ms. Andersen
performed during the three (3) year period prior to the Termination Date.

 

(b)              
Consulting Fee. In exchange for the Services performed hereunder, Sandy Spring agrees to pay Ms. Andersen $18,333.33
per month during the Consulting Period. Ms. Andersen shall be eligible for business expense reimbursement in a manner consistent
with the applicable expense reimbursement policies of Sandy Spring and Sandy Spring Bank. The fee for the Services shall be paid
within thirty (30) days following the last day of each calendar month during the Consulting Period, with the last payment due within
forty-five (45) days following the termination or expiration of the Consulting Period. In the event that Sandy Spring terminates
the Services prior to the end of the Consulting Period, Ms. Andersen shall continue to receive the monthly consulting fee for the
remainder of the Consulting Period.

 

(c)              
Status as Independent Contractor. In all matters relating to the Services, Ms. Andersen shall be acting as an independent
contractor. Neither Ms. Andersen, nor any affiliated employees or subcontractors, shall be the agent(s) or employee(s) of Sandy
Spring or Sandy Spring Bank under the meaning or application of any federal or state laws, including but not limited to unemployment
insurance or worker’s compensation laws. Ms. Andersen will be solely responsible for all income, business or other taxes
imposed on the recipient and payable as a result of the fees paid for the Services. Ms. Andersen shall not sign any agreement or
make any commitments on behalf of Sandy Spring or Sandy Spring Bank, or bind Sandy Spring or Sandy Spring Bank in any way, nor
shall Ms. Andersen make any public statements concerning the Services that purport to be on behalf of Sandy Spring or Sandy Spring
Bank, in each case without prior express written consent from Sandy Spring.

 

4.                 
Other Payments and Benefits.

 

(a)              
Supplemental Executive Retirement Agreement. Sandy Spring shall cause the trustee of the grantor trust established,
or to be established, by WashingtonFirst to pay to Ms. Andersen amounts due to Ms. Andersen arising from the terms of the Supplemental
Executive Retirement Agreement dated April 1, 2014, between WashingtonFirst Bank and Ms. Andersen, specifically a single, lump
sum benefit in the amount of $974,915 (the “Benefit Amount”). The Benefit Amount shall be paid from the grantor
trust to Ms. Andersen on the first business day after the date that is six (6) months following the Termination Date (or, if earlier,
Ms. Andersen’s death).

 

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(b)              
Other Plans. Ms. Andersen’s right to receive payments and benefits under any other plan, program or arrangement
(including, without limitation, the WashingtonFirst Bank Retirement Savings Plan) shall be governed by the terms of such other
plan, program or arrangement.

 

5.                 
Cooperation. During the twenty-four (24) month period following the Termination Date, Ms. Andersen agrees to make
herself reasonably available (after taking into account her personal and professional schedule) to cooperate with Sandy Spring
in matters that materially concern: (i) requests for information about the services Ms. Andersen provided to Sandy Spring, its
affiliates and their predecessors, (ii) the defense or prosecution of any claims or actions now in existence or which may be brought
in the future against or on behalf of Sandy Spring, its affiliates and their predecessors which relate to events or occurrences
that transpired while Ms. Andersen was employed by or providing services to Sandy Spring, its affiliates or their predecessors
or (iii) any investigation or review by any federal, state or local regulatory, quasi-regulatory or self-governing authority as
any such investigation or review relates to events or occurrences that transpired while Ms. Andersen was employed by or providing
services to Sandy Spring, its affiliates and their predecessors. Ms. Andersen’s cooperation shall include: (A) making herself
reasonably available to meet and speak with officers or employees of Sandy Spring, Sandy Spring’s counsel or any third-parties
at the request of Sandy Spring at times and locations to be determined by Sandy Spring reasonably and in good faith, taking into
account Ms. Andersen’s business and personal needs and (B) giving accurate and truthful information at any interviews and
accurate and truthful testimony in any legal proceedings or actions. Unless required by law or legal process, Ms. Andersen will
not knowingly or intentionally furnish information to or cooperate with any non-governmental entity in connection with any potential
or pending proceeding or legal action involving matters arising during Ms. Andersen’s employment with Sandy Spring, its affiliates
and their predecessors.

 

6.                 
Section 409A. The Parties intend for the payments and benefits under this Agreement to be exempt from Section 409A
or, if not so exempt, to be paid or provided in a manner which complies with the requirements of such section, and intend that
this Agreement shall be construed and administered in accordance with such intention. Any payments that qualify for the “short-term
deferral” exception or another exception under Section 409A shall be paid under the applicable exception. For purposes of
the limitations on nonqualified deferred compensation under Section 409A, each payment of compensation under this Agreement shall
be treated as a separate payment of compensation. To the extent required in order to avoid accelerated taxation and/or tax penalties
under Section 409A, amounts that would otherwise be payable and benefits that would otherwise be provided pursuant to this Agreement
during the six (6) month period immediately following Ms. Andersen’s separation from service shall instead be paid on the
first business day after the date that is six (6) months following her termination of employment (or upon her death, if earlier).
Additionally, the reimbursement of expenses or in-kind benefits provided pursuant to this Agreement shall be subject to the following
conditions: the expenses eligible for reimbursement or in-kind benefits in one taxable year shall not affect the expenses eligible
for reimbursement or in-kind benefits in any other taxable year; the reimbursement of eligible expenses or in-kind benefits shall
be made promptly, subject to Sandy Spring’s applicable policies, but in no event later than the end of the year after the
year in which such expense was incurred; and the right to reimbursement or in-kind benefits shall not be subject to liquidation
or exchange for another benefit. Notwithstanding any other provision of this Agreement, Sandy Spring or Sandy Spring Bank may withhold
from amounts payable under this Agreement all amounts that are required or authorized to be withheld, including, but not limited
to, federal, state, local and foreign taxes required to be withheld by applicable laws or regulations. Except as set forth in Section
7 of this Agreement, Ms. Andersen acknowledges that neither Sandy Spring nor Sandy Spring Bank has made any representation to her
as to the tax treatment of the compensation and benefits provided pursuant to this Agreement, and Ms. Andersen is solely responsible
for all taxes due with respect to such compensation and benefits.

 

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7.                 
Tax Indemnification.

 

(a)              
Indemnification. Notwithstanding anything in this Agreement to the contrary, if any payment, benefit or award provided
for in this Agreement, together with any other payment, benefit or award which Ms. Andersen receives or has the right to receive
from Sandy Spring, Sandy Spring Bank, WashingtonFirst, WashingtonFirst Bank, or any corporation which is a member of an “affiliated
group” (as defined in Section 1504(a) of the Internal Revenue Code of 1986, as amended (the “Code”), without
regard to Code Section 1504(b)) of which Sandy Spring, Sandy Spring Bank, WashingtonFirst, or WashingtonFirst Bank is a member,
would constitute an “excess parachute payment” (as defined in Code Section 280G(b)(2)) subject to the excise tax (the
“Excise Tax”) imposed by Section 4999 of the Code, Ms. Andersen will be entitled to receive an additional payment
(a “Gross-Up Payment”) in an amount such that, after payment by Ms. Andersen of all income taxes, all employment
taxes and any Excise Tax imposed upon the Gross-Up Payment, Ms. Andersen retains an amount of the Gross-Up Payment equal to the
Excise Tax imposed upon the payments. Any determination required under Section 7(a) or (b) shall be made by Sandy Spring and its
tax advisors (collectively, the “Tax Advisers”), whose determination shall be conclusive and binding upon Ms.
Andersen so long as such determination is based on reasonable assumptions and approximations concerning applicable taxes and relies
on reasonable, good faith interpretations concerning the applications of Section 280G and 4999 of the Code and Sandy Spring provides
detailed supporting calculations to Ms. Andersen of any determination made pursuant to Section 7(a) or (b) within twenty (20) days
following the Closing Date and within twenty (20) business days following Executive’s receipt of any other payment, benefit
or award identified in this Section 7(a). The Gross-Up Payment shall be paid to Ms. Andersen no later than the time Ms. Andersen
is required to remit the Excise Tax in respect of which the Gross-Up Payment relates.

 

(b)              
Underpayment; Overpayment. As a result of the uncertainty in the application of Code Section 4999, it is possible
that a Gross-Up Payment which will not have been made or not have been made in a sufficient amount should have been made (an “Underpayment”)
or a Gross-Up Payment is made which should not have been made or is made for too high of an amount (an “Overpayment”).
If it is determined that an Underpayment has occurred, Sandy Spring and the Tax Advisers shall determine the amount of the Underpayment
that has occurred and any such Underpayment (together with interest at the rate provided in Section 1274(b)(2)(B) of the Code)
shall be promptly paid to or for the benefit of Ms. Andersen. If it is determined that an Overpayment has occurred, the Tax Advisers
shall determine the amount of the Overpayment that has occurred and any such Overpayment (together with interest at the rate provided
in Section 1274(b)(2) of the Code) shall be promptly paid by Ms. Andersen to or for the benefit of Sandy Spring. Ms. Andersen shall
cooperate, to the extent her costs, expenses and attorney’s fees are borne and paid by Sandy Spring, with any reasonable
requests by Sandy Spring or its affiliates in connection with any contest or disputes with the Internal Revenue Service in connection
with the Excise Tax.

 

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(c)              
Cooperation. Ms. Andersen shall notify Sandy Spring in writing of any claim by the Internal Revenue Service that,
if successful, would require a payment resulting in an Underpayment. Such notification shall be given as soon as practicable but
no later than five (5) business days after Ms. Andersen is informed in writing of such claim and shall apprise Sandy Spring of
the nature of such claim and the date on which such claim is requested to be paid. Ms. Andersen shall not pay such claim prior
to the expiration of the thirty (30) day period following the date on which she gives such notice to Sandy Spring (or such shorter
period ending on the date that any payment of taxes with respect to such claim is due). If Sandy Spring notifies Ms. Andersen in
writing prior to the expiration of such period that it desires to contest such claim, Ms. Andersen shall:

 

(i)            give
Sandy Spring any information reasonably requested by it relating to such claim,

 

(ii)          
take such action in connection with contesting such claim as Sandy Spring shall reasonably request in writing from time
to time, including, without limitation, accepting legal representation with respect to such claim by an attorney reasonably selected
by Sandy Spring,

 

(iii)        
cooperate with Sandy Spring in good faith in order effectively to contest such claim, and

 

(iv)         
permit Sandy Spring to participate in any proceeding relating to such claim;

 

provided, however, that Sandy Spring shall
bear and pay directly all costs and expenses, including Ms. Andersen’s attorneys’ fees, incurred in connection with
such contest and shall indemnify and hold Ms. Andersen harmless, for any Excise Tax, income tax or other tax imposed as a result
of such representation and payment of costs and expenses, including Ms. Andersen’s attorneys’ fees. Without limitation
on the foregoing provisions of this Section 7(c), Sandy Spring shall control all proceedings taken in connection with such contest,
including retention of counsel, and, at its sole option, may pursue or forgo any and all administrative appeals, proceedings, hearings
and conferences with the taxing authority in respect of such claim and may, at its sole option, either direct Ms. Andersen to pay
the tax claimed and sue for a refund or contest the claim in any permissible manner, and Ms. Andersen agrees to prosecute such
contest to a determination before any administrative tribunal, in a court of initial jurisdiction and in one or more appellate
courts, as Sandy Spring shall determine; provided, however, that if Sandy Spring directs Ms. Andersen to pay such claim and sue
for a refund, Sandy Spring shall advance amount of such payment to Ms. Andersen, on an interest-free basis and shall pay, indemnify
and hold Ms. Andersen harmless from any Excise Tax, income tax or other tax imposed with respect to such advance or with respect
to any imputed income with respect to such advance.

 

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(d)              
Tax Refunds. If, after the receipt by Ms. Andersen of an amount advanced by Sandy Spring pursuant to Section 7(c),
Ms. Andersen becomes entitled to receive and receives any refund with respect to such claim, Ms. Andersen shall (subject to Sandy
Spring’s complying with the requirements of Section 7(c)) promptly pay to Sandy Spring the amount of such refund (together
with any interest paid or credited thereon after taxes applicable thereto). If, after the receipt by Ms. Andersen of an amount
advanced by Sandy Spring pursuant to Section 7(c), a determination is made by the Internal Revenue Service that Ms. Andersen shall
not be entitled to any refund with respect to such claim and Sandy Spring does not notify Ms. Andersen in writing of its intent
to contest such denial of refund prior to the expiration of thirty (30) days after such determination, then such advance shall
be forgiven and shall not be required to be repaid.

 

8.                 
Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of Maryland,
without regard to the application of any choice-of-law rules that would result in the application of another state’s laws.

 

9.                 
Entire Agreement. This Agreement sets forth the entire agreement between the Parties concerning the termination of
Ms. Andersen’s employment and her service as a director or consultant to Sandy Spring and Sandy Spring Bank, and supersedes
any other written or oral promises concerning the subject matter of this Agreement. No waiver or amendment of this Agreement will
be effective unless it is in writing, refers to this Agreement, and is signed by the Parties.

 

10.             
Successors and Assigns. This Agreement is binding upon, and shall inure to the benefit of, the Parties and their
respective successors and assigns.

 

11.             
Termination. This Agreement shall automatically terminate and be of no further force and effect, and no payments
shall be made hereunder, upon termination of the Merger Agreement prior to the closing of the transactions contemplated thereby.

 

[Signature Page Follows]

 

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IN WITNESS WHEREOF, the
Parties have executed this Agreement as of the date first set forth above.

 

	 	SANDY SPRING BANCORP, INC.
	 	 
	 	By: 	/s/ Daniel J. Schrider
	 	Name:	Daniel J. Schrider
	 	 	 
	 	SANDY SPRING BANK
	 	 	 
	 	By: 	/s/ Daniel J. Schrider
	 	Name: 	Danial J. Schrider 
	 	 	 
	 	SHAZA L. ANDERSEN
	 	 	 
	 	By: 	/s/ Shaza L. Andersen
	 	Name:	Shaza L. Andersen

 

[Signature Page to Separation and Consulting
Agreement]

 

     8Exhibit 4.1

 

NEITHER THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO
WHICH THESE SECURITIES ARE EXERCISABLE HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE
SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE
REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL
SHALL BE SELECTED BY THE HOLDER), IN A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS
SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION
WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.

 

	 	Right to Purchase ______ shares of Common Stock of Jerrick Media Holdings, Inc. (subject to adjustment as provided herein)

 

COMMON STOCK PURCHASE WARRANT

 

	No. 	Issue Date:

 

JERRICK MEDIA HOLDINGS, INC., a corporation
organized under the laws of the State of Nevada (the “Company”), hereby certifies that, for value received,
________________, with an address at _______________________, or its assigns (the “Holder”), is entitled,
subject to the terms set forth below, to purchase from the Company at any time after the Issue Date until 5:00 p.m., E.D.T. on
the five (5) year anniversary of the Issue Date (the “Expiration Date”), up to 500,000 fully paid and non-assessable
shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”) at a per share purchase
price of $0.20. The aforedescribed purchase price per share, as adjusted from time to time as herein provided, is referred to herein
as the “Purchase Price.” The number and character of such shares of Common Stock and the Purchase Price are
subject to adjustment as provided herein. The Company may reduce the Purchase Price for some or all of the Warrants, temporarily
or permanently, provided such reduction is made as to all outstanding Warrants for all Holders of such Warrants. Capitalized
terms used and not otherwise defined herein shall have the meanings set forth in that certain Securities Purchase Agreement (the
“Purchase Agreement”) entered into by the Company and Holder pursuant to which this Warrant has been issued.

 

As used herein the
following terms, unless the context otherwise requires, have the following respective meanings:

 

 (a) The term “Company” shall mean Jerrick Media Holdings, Inc., a Nevada corporation.

 

    	 		 

     

    

 

(b) The term “Common
Stock” includes (i) the Company’s Common Stock, $0.001 par value per share and (ii) any other securities into which
or for which any of the securities described in (i) may be converted or exchanged pursuant to a plan of recapitalization, reorganization,
merger, sale of assets or otherwise.

 

(c) The term “Other
Securities” refers to any stock (other than Common Stock) and other securities of the Company or any other person (corporate
or otherwise) which the holder of the Warrant at any time shall be entitled to receive, or shall have received, on the exercise
of the Warrant, in lieu of or in addition to Common Stock, or which at any time shall be issuable or shall have been issued in
exchange for or in replacement of Common Stock or Other Securities pursuant to Section 5 hereof or otherwise.

 

(d) The term “Warrant
Shares” shall mean the Common Stock issuable upon exercise of this Warrant.

  

1. Exercise of
Warrant.

 

1.1. Number of
Shares Issuable upon Exercise. From and after the Issue Date through and including the Expiration Date, the Holder shall be
entitled to receive, upon exercise of this Warrant in whole in accordance with the terms of Section 1.2 hereof or upon exercise
of this Warrant in part in accordance with Section 1.3 hereof, shares of Common Stock of the Company, subject to adjustment
pursuant to Section 3 hereof.

 

1.2. Full Exercise.
This Warrant may be exercised in full by the Holder hereof by delivery to the Company of an original or facsimile copy of the form
of subscription attached as Exhibit A hereto (the “Subscription Form”) duly executed by such Holder and
delivered within two (2) business days thereafter of payment, in cash, wire transfer or by certified or official bank check payable
to the order of the Company, in the amount obtained by multiplying the number of shares of Common Stock for which this Warrant
is then exercisable by the Purchase Price then in effect. The original Warrant is not required to be surrendered to the Company
until it has been fully exercised.

 

1.3. Partial Exercise.
This Warrant may be exercised in part (but not for a fractional share) by delivery of a Subscription Form in the manner and at
the place provided in Section 1.2 hereof, except that the amount payable by the Holder on such partial exercise shall be
the amount obtained by multiplying (a) the number of whole shares of Common Stock designated by the Holder in the Subscription
Form by (b) the Purchase Price then in effect. On any such partial exercise, upon the written request of the Holder, provided the
Holder has surrendered the original Warrant, the Company, at its expense, will forthwith issue and deliver to or upon the order
of the Holder a new Warrant of like tenor, in the name of the Holder hereof or as such Holder (upon payment by such Holder of any
applicable transfer taxes) may request, the whole number of shares of Common Stock for which such Warrant may still be exercised.

 

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1.4. Fair Market
Value. For purposes of this Warrant, the Fair Market Value of a share of Common Stock as of a particular date (the “Determination
Date”) shall mean:

 

(a) If the Company’s
Common Stock is traded on an exchange or on the NASDAQ Global Market, NASDAQ Global Select Market, the NASDAQ Capital Market, the
New York Stock Exchange or the NYSE AMEX Equities, then the average of the closing sale prices of the Common Stock for the five
(5) trading days immediately prior to (but not including) the Determination Date;

 

(b) If the Company’s
Common Stock is not traded on an exchange or on the NASDAQ Global Market, NASDAQ Global Select Market, the NASDAQ Capital Market,
the New York Stock Exchange or the NYSE AMEX Equities, but is traded on the OTC Bulletin Board or in the over-the-counter market
or Pink Sheets, then the average of the closing bid and ask prices reported for the five (5) trading days immediately prior to
(but not including) the Determination Date;

 

(c) Except as provided
in clause (d) below and Section 3.1 hereof, if the Company’s Common Stock is not publicly traded, then as the Holder
and the Company shall mutually agree, or in the absence of such an agreement after good faith efforts of the Company and the Holder
to reach an agreement, by arbitration in accordance with the rules then standing of the American Arbitration Association, before
a single arbitrator to be chosen from a panel of persons qualified by education and training to pass on the matter to be decided;
or

 

(d) If the Determination
Date is the date of a liquidation, dissolution or winding up, or any event deemed to be a liquidation, dissolution or winding up
pursuant to the Company’s charter, then all amounts to be payable per share to holders of the Common Stock pursuant to the
charter in the event of such liquidation, dissolution or winding up, plus all other amounts to be payable per share in respect
of the Common Stock in liquidation under the charter, assuming for the purposes of this clause (d) that all of the shares of Common
Stock then issuable upon exercise of all of the Warrants are outstanding at the Determination Date.

 

1.5. Company Acknowledgment.
The Company will, at the time of the exercise of the Warrant, upon the request of the Holder hereof, acknowledge in writing its
continuing obligation to afford to such Holder any rights to which such Holder shall continue to be entitled after such exercise
in accordance with the provisions of this Warrant. If the Holder shall fail to make any such request, such failure shall not affect
the continuing obligation of the Company to afford to such Holder any such rights.

 

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1.6. Delivery of
Stock Certificates, etc. on Exercise. The Company agrees that, provided the purchase price listed in the Subscription Form
is received as specified in Section 2 hereof, the shares of Common Stock purchased upon exercise of this Warrant shall be
deemed to be issued to the Holder hereof as the record owner of such shares as of the close of business on the date on which delivery
of a Subscription Form shall have occurred and payment made for such shares as aforesaid. As soon as practicable after the exercise
of this Warrant in full or in part and the payment is made, and in any event within five (5) business days thereafter (“Warrant
Share Delivery Date”), the Company, at its expense (including the payment by it of any applicable issue taxes), will
cause to be issued in the name of, and delivered to, the Holder hereof, or as such Holder (upon payment by such Holder of any applicable
transfer taxes) may direct in compliance with applicable securities laws, a certificate or certificates for the number of duly
and validly issued, fully paid and non-assessable shares of Common Stock (or Other Securities) to which such Holder shall be entitled
on such exercise, plus, in lieu of any fractional share to which such Holder would otherwise be entitled, cash equal to such fraction
multiplied by the then Fair Market Value of one full share of Common Stock, together with any other stock or other securities and
property (including cash, where applicable) to which such Holder is entitled upon such exercise pursuant to Section 1 hereof
or otherwise. The Company understands that a delay in the delivery of the Warrant Shares after the Warrant Share Delivery Date
could result in economic loss to the Holder. As compensation to the Holder for such loss, the Company agrees to pay (as liquidated
damages and not as a penalty) to the Holder for late issuance of Warrant Shares upon exercise of this Warrant the proportionate
amount of $100 per business day after the Warrant Share Delivery Date for each $10,000 of Purchase Price of Warrant Shares for
which this Warrant is exercised which are not timely delivered. The Company shall promptly pay any payments incurred under this
Section in immediately available funds upon demand. Furthermore, in addition to any other remedies which may be available to the
Holder, in the event that the Company fails for any reason to effect delivery of the Warrant Shares by the Warrant Share Delivery
Date, the Holder may revoke all or part of the relevant Warrant exercise by delivery of a written notice to such effect to the
Company, whereupon the Company and the Holder shall each be restored to their respective positions immediately prior to the exercise
of the relevant portion of this Warrant, except that the liquidated damages described above shall be payable through the date notice
of revocation or rescission is given to the Company.

 

1.7. Buy-In.
In addition to any other rights available to the Holder, if the Company fails to deliver to a Holder the Warrant Shares as required
pursuant to this Warrant, and the Holder or a broker on the Holder’s behalf, purchases (in an open market transaction or
otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Holder of the Warrant Shares which the Holder was
entitled to receive from the Company (a “Buy-In”), then the Company shall pay in cash to the Holder (in addition
to any remedies available to or elected by the Holder) the amount by which (A) the Holder’s total purchase price (including
brokerage commissions, if any) for the shares of Common Stock so purchased exceeds (B) the aggregate Purchase Price of the Warrant
Shares required to have been delivered together with interest thereon at a rate of 15% per annum, accruing until such amount and
any accrued interest thereon is paid in full (which amount shall be paid as liquidated damages and not as a penalty). For purposes
of illustration, if a Holder purchases shares of Common Stock having a total purchase price of $11,000 to cover a Buy-In with respect
to $10,000 of Purchase Price of Warrant Shares to have been received upon exercise of this Warrant, the Company shall be required
to pay the Holder $1,000, plus interest. The Holder shall provide the Company written notice indicating the amounts payable to
the Holder in respect of the Buy-In, which shall include evidence of the price at which such Holder had to purchase the Common
Stock in an open-market transaction or otherwise.

 

    	 	4	 

     

    

 

2. Payment of Purchase
Price; Cashless Exercise.

 

(a) Payment upon exercise
may be made at the written option of the Holder either in (i) cash, wire transfer or by certified or official bank check payable
to the order of the Company equal to the applicable aggregate Purchase Price, (ii) by delivery of Common Stock issuable upon exercise
of the Warrants in accordance with Section (b) below or (iii) by a combination of any of the foregoing methods, in each case accompanied
by delivery of a properly endorsed Subscription Form, for the number of Common Stock specified in such form (as such exercise number
shall be adjusted to reflect any adjustment in the total number of shares of Common Stock issuable to the Holder per the terms
of this Warrant) and the Holder shall thereupon be entitled to receive the number of duly authorized, validly issued, fully-paid
and non-assessable shares of Common Stock (or Other Securities) determined as provided herein. Notwithstanding the immediately
preceding sentence, payment upon exercise may be made in the manner described in Section 2(b) below only with respect to
Warrant Shares not included for unrestricted public resale in an effective registration statement on the date notice of
exercise is given by the Holder.

 

(b) If the Fair Market
Value of one share of Common Stock is greater than the Purchase Price (at the date of calculation as set forth below), in lieu
of exercising this Warrant for cash, the Holder, eligible at any time, may elect to receive shares equal to the value (as determined
below) of this Warrant (or the portion thereof being cancelled) by delivery of a properly endorsed Subscription Form delivered
to the Company by any means described in Section 13 hereof, in which event the Company shall issue to the holder a number
of shares of Common Stock computed using the following formula:

 

X=Y (A-B)

          A

 

	 	Where X= the number of shares of Common Stock to be issued to the Holder
	 	 	 
	 	Y=	
        the number of shares of Common Stock purchasable under the
        Warrant or, if only a portion of the Warrant is being exercised, the portion of the Warrant being exercised (at the date of such
        calculation)

         

	 	A=	
        Fair Market Value

         

	 	B=	Purchase Price (as adjusted to the date of such calculation)

 

For purposes of
Rule 144 promulgated under the 1933 Act, it is intended, understood and acknowledged that the Warrant Shares issued in a cashless
exercise transaction in the manner described above shall be deemed to have been acquired by the Holder, and the holding period
for the Warrant Shares shall be deemed to have commenced, on the date this Warrant was originally issued.

 

    	 	5	 

     

    

 

3. Adjustment
for Reorganization, Consolidation, Merger, etc.

 

3.1. Fundamental
Transaction. If, at any time while this Warrant is outstanding, (A) the Company effects any merger or consolidation of the
Company with or into another entity, (B) the Company effects any sale of all or substantially all of its assets in one or a series
of related transactions, (C) any tender offer or exchange offer (whether by the Company or another entity) is completed pursuant
to which holders of Common Stock are permitted to tender or exchange their shares for other securities, cash or property, (D) the
Company consummates a stock purchase agreement or other business combination (including, without limitation, a reorganization,
recapitalization, or spin-off) with one or more persons or entities whereby such other persons or entities acquire more than the
50% of the outstanding shares of Common Stock (not including any shares of Common Stock held by such other persons or entities
making or party to, or associated or affiliated with the other persons or entities making or party to, such stock purchase agreement
or other business combination), (E) any “person” or “group” (as these terms are used for purposes of Sections
13(d) and 14(d) of the 1934 Act) is or shall become the “beneficial owner” (as defined in Rule 13d-3 under the 1934
Act), directly or indirectly, of 50% of the aggregate Common Stock of the Company, or (F) the Company effects any reclassification
of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted into or exchanged
for other securities, cash or property (in any such case, a “Fundamental Transaction”), then, upon any subsequent
exercise of this Warrant, the Holder shall have the right to receive, for each Warrant Share that would have been issuable upon
such exercise immediately prior to the occurrence of such Fundamental Transaction, at the option of the Holder, (a) upon exercise
of this Warrant, the number of shares of Common Stock of the successor or acquiring corporation or of the Company, if it is the
surviving corporation, and any additional consideration (the “Alternate Consideration”) receivable upon or as
a result of such reorganization, reclassification, merger, consolidation or disposition of assets by a Holder of the number of
shares of Common Stock for which this Warrant is exercisable immediately prior to such event or (b) if the Company is acquired
in (1) a transaction where the consideration paid to the holders of the Common Stock consists solely of cash, (2) a “Rule
13e-3 transaction” as defined in Rule 13e-3 under the 1934 Act, or (3) a transaction involving a person or entity not traded
on a national securities exchange, the Nasdaq Global Select Market, the Nasdaq Global Market or the Nasdaq Capital Market, cash
equal to the Black-Scholes Value (as defined herein). For purposes of any such exercise, the determination of the Purchase Price
shall be appropriately adjusted to apply to such Alternate Consideration based on the amount of Alternate Consideration issuable
in respect of one share of Common Stock in such Fundamental Transaction, and the Company shall apportion the Purchase Price among
the Alternate Consideration in a reasonable manner reflecting the relative value of any different components of the Alternate Consideration.
If holders of Common Stock are given any choice as to the securities, cash or property to be received in a Fundamental Transaction,
then the Holder shall be given the same choice as to the Alternate Consideration it receives upon any exercise of this Warrant
following such Fundamental Transaction. To the extent necessary to effectuate the foregoing provisions, any successor to the Company
or surviving entity in such Fundamental Transaction shall issue to the Holder a new warrant consistent with the foregoing provisions
and evidencing the Holder’s right to exercise such warrant into Alternate Consideration. The terms of any agreement pursuant
to which a Fundamental Transaction is effected include terms requiring any such successor or surviving entity to comply with the
provisions of this Section 3.1 and insuring that this Warrant (or any such replacement security) will be similarly adjusted
upon any subsequent transaction analogous to a Fundamental Transaction. “Black-Scholes Value” shall be determined
in accordance with the Black-Scholes Option Pricing Model obtained from the “OV” function on Bloomberg L.P. using (i)
a price per share of Common Stock equal to the Volume Weighted Average Price of the Common Stock for the Trading Day immediately
preceding the date of consummation of the applicable Fundamental Transaction, (ii) a risk-free interest rate corresponding to the
U.S. Treasury rate for a period equal to the remaining term of this Warrant as of the date of such request and (iii) an expected
volatility equal to the 100 day volatility obtained from the HVT function on Bloomberg L.P. determined as of the Trading Day immediately
following the public announcement of the applicable Fundamental Transaction.

 

    	 	6	 

     

    

 

3.2. Continuation
of Terms. Upon any reorganization, consolidation, merger or transfer (and any dissolution following any transfer) referred
to in this Section 3 hereof, this Warrant shall continue in full force and effect and the terms hereof shall be applicable
to the Other Securities and property receivable on the exercise of this Warrant after the consummation of such reorganization,
consolidation or merger or the effective date of dissolution following any such transfer, as the case may be, and shall be binding
upon the issuer of any Other Securities, including, in the case of any such transfer, the person acquiring all or substantially
all of the properties or assets of the Company, whether or not such person shall have expressly assumed the terms of this Warrant
as provided in Section 5 hereof.

 

4. Registration
Rights. The Holder of this Warrant shall have such registration rights for the Warrant Shares as are contained in the Purchase
Agreement.

 

5. Extraordinary
Events Regarding Common Stock. In the event that the Company shall (a) issue additional shares of Common Stock as a dividend
or other distribution on outstanding Common Stock, (b) subdivide its outstanding shares of Common Stock, or (c) combine its outstanding
shares of the Common Stock into a smaller number of shares of Common Stock, then, in each such event, the Purchase Price shall,
simultaneously with the happening of such event, be adjusted by multiplying the then Purchase Price by a fraction, the numerator
of which shall be the number of shares of Common Stock outstanding immediately prior to such event and the denominator of which
shall be the number of shares of Common Stock outstanding immediately after such event, and the product so obtained shall thereafter
be the Purchase Price then in effect. The Purchase Price, as so adjusted, shall be readjusted in the same manner upon the happening
of any successive event or events described in this Section 5. The number of shares of Common Stock that the Holder of this
Warrant shall thereafter, on the exercise hereof, be entitled to receive shall be adjusted to a number determined by multiplying
the number of shares of Common Stock that would otherwise (but for the provisions of this Section 5) be issuable on such
exercise by a fraction of which (a) the numerator is the Purchase Price that would otherwise (but for the provisions of this Section
5) be in effect, and (b) the denominator is the Purchase Price in effect on the date of such exercise.

 

6. Certificate
as to Adjustments. In each case of any adjustment or readjustment in the shares of Common Stock (or Other Securities) issuable
on the exercise of the Warrants or in the Purchase Price, the Company at its expense will promptly cause its Chief Financial Officer
or other appropriate designee to compute such adjustment or readjustment in accordance with the terms of the Warrant and prepare
a certificate setting forth such adjustment or readjustment and showing in detail the facts upon which such adjustment or readjustment
is based, including a statement of (a) the consideration received or receivable by the Company for any additional shares of Common
Stock (or Other Securities) issued or sold or deemed to have been issued or sold, (b) the number of shares of Common Stock (or
Other Securities) outstanding or deemed to be outstanding, and (c) the Purchase Price and the number of shares of Common Stock
to be received upon exercise of this Warrant, in effect immediately prior to such adjustment or readjustment and as adjusted or
readjusted as provided in this Warrant. The Company will forthwith mail a copy of each such certificate to the Holder of the Warrant
and any Warrant Agent (as defined herein) of the Company (appointed pursuant to Section 11 hereof). Holder will be entitled
to the benefit of the adjustment regardless of the giving of such notice. The timely giving of such notice to Holder is a material
obligation of the Company.

 

    	 	7	 

     

    

 

7. Reservation
of Stock, etc. Issuable on Exercise of Warrant; Financial Statements. The Company will at all times reserve and keep available,
solely for issuance and delivery on the exercise of the Warrants, all shares of Common Stock (or Other Securities) from time to
time issuable on the exercise of the Warrant. This Warrant entitles the Holder hereof, upon written request, to receive copies
of all financial and other information distributed or required to be distributed to the holders of the Company’s Common Stock.

 

8. Assignment;
Exchange of Warrant. Subject to compliance with applicable securities laws, this Warrant, and the rights evidenced hereby,
may be transferred by any registered holder hereof (a “Transferor”). On the surrender for exchange of this Warrant,
with the Transferor’s endorsement in the form of Exhibit B attached hereto (the “Transferor Endorsement Form”)
and together with an opinion of counsel reasonably satisfactory to the Company that the transfer of this Warrant will be in compliance
with applicable securities laws, the Company will issue and deliver to or on the order of the Transferor thereof a new Warrant
or Warrants of like tenor, in the name of the Transferor and/or the transferee(s) specified in such Transferor Endorsement Form
(each a “Transferee”), calling in the aggregate on the face or faces thereof for the number of shares of Common
Stock called for on the face or faces of the Warrant so surrendered by the Transferor.

 

9. Replacement
of Warrant. On receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of
this Warrant and, in the case of any such loss, theft or destruction of this Warrant, on delivery of an indemnity agreement or
security reasonably satisfactory in form and amount to the Company or, in the case of any such mutilation, on surrender and cancellation
of this Warrant, the Company at its expense, twice only, will execute and deliver, in lieu thereof, a new Warrant of like tenor.

 

10. Maximum Exercise.
The Holder shall not be entitled to exercise this Warrant on an exercise date, in connection with that number of shares of Common
Stock which would be in excess of the sum of (i) the number of shares of Common Stock beneficially owned by the Holder and its
Affiliates on an exercise date, and (ii) the number of shares of Common Stock issuable upon the exercise of this Warrant with respect
to which the determination of this limitation is being made on an exercise date, which would result in beneficial ownership by
the Holder and its Affiliates of more than 4.99% of the outstanding shares of Common Stock on such date. For the purposes of the
immediately preceding sentence, beneficial ownership shall be determined in accordance with Section 13(d) of the 1934 Act and Rule
13d-3 thereunder. Subject to the foregoing, the Holder shall not be limited to aggregate exercises which would result in the issuance
of more than 4.99%. The Holder may allocate which of the equity of the Company deemed beneficially owned by the Holder shall be
included in the 4.99% amount described above and which shall be allocated to the excess above 4.99%. The restriction described
in this paragraph may be waived, in whole or in part, upon sixty-one (61) days’ prior notice from the Holder to the Company
to increase such percentage.

 

    	 	8	 

     

    

 

11. Transfer
on the Company’s Books. Until this Warrant is transferred on the books of the Company, the Company may treat the registered
holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

  

12. Notices.
All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder shall be in writing
and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered or certified, return
receipt requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid, or (iv) transmitted
by hand delivery, telegram, or facsimile addressed as set forth below or to such other address as such party shall have specified
most recently by written notice. Any notice or other communication required or permitted to be given hereunder shall be deemed
effective (a) upon hand delivery or delivery by facsimile, with accurate confirmation generated by the transmitting facsimile machine,
at the address or number designated below (if delivered on a business day during normal business hours where such notice is to
be received), or the first business day following such delivery (if delivered other than on a business day during normal business
hours where such notice is to be received), or (b) on the second business day following the date of mailing by express courier
service, fully prepaid, addressed to such address, or upon actual receipt of such mailing, whichever shall first occur. The addresses
for such communications shall be: (i) if to the Company, to Jerrick Media Holdings, Inc., 202 South Dean Street, Englewood, NJ,
Attn: Jeremy Frommer, with a copy by fax only to (which shall not constitute notice) Lucosky Brookman LLP, 101 Wood Avenue South,
5th Floor, Iselin, NJ 08830, Attn: Joseph M. Lucosky, Esq., facsimile: (732) 395-4401, and (ii) if to the Holder, to the address
and facsimile number listed on the first paragraph of this Warrant.

 

13. Law Governing
This Warrant. This Warrant shall be governed by and construed in accordance with the laws of the State of New Jersey without
regard to its principles of conflicts of laws or of any other State. Any action brought by either party hereto against the other
concerning the transactions contemplated by this Warrant shall be brought only in the state courts of New Jersey or in the federal
courts located in the state of New Jersey. The parties to this Warrant hereby irrevocably waive any objection to jurisdiction and
venue of any action instituted hereunder and shall not assert any defense based on lack of jurisdiction or venue or based upon
forum non conveniens. The Company and the Holder waive trial by jury. The prevailing party shall be entitled to recover
from the other party its reasonable attorney’s fees and costs. In the event that any provision of this Warrant or any other
agreement delivered in connection herewith is invalid or unenforceable under any applicable statute or rule of law, then such provision
shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform to, such statute
or rule of law. Any such provision which may prove invalid or unenforceable under any law shall not affect the validity or enforceability
of any other provision of any agreement. Each party hereto hereby irrevocably waives personal service of process and consents to
process being served in any suit, action or proceeding in connection with this Warrant or any other transaction document 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 Warrant 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.

 

[-Signature Page Follows-]

 

    	 	9	 

     

    

 

IN WITNESS WHEREOF, the Company has executed
this Warrant as of the date first written above.

 

	 	JERRICK MEDIA HOLDINGS, INC.
	 	 
	 	By:	 
	 	Name: 	Jeremy Frommer
	 	Title: 	Chief Executive Officer

 

    	 	10	 

     

    

 

Exhibit A

 

FORM OF EXERCISE

(to be signed only on exercise of Warrant)

 

TO: JERRICK MEDIA HOLDINGS, INC.

 

The undersigned, pursuant to the provisions set forth in
the attached Warrant (No.____), hereby irrevocably elects to purchase (check applicable box):

 

___ ________ shares of the Common Stock covered by such Warrant;
or

 

	___	the maximum number of shares of Common Stock covered by such Warrant pursuant to the cashless exercise procedure set forth in Section 2 of the Warrant.

 

The undersigned herewith makes payment of the full purchase
price for such shares at the price per share provided for in such Warrant, which is $______. Such payment takes the form of (check
applicable box or boxes):

 

___ $__________ in lawful money of the United States; and/or

 

	___	the cancellation of such portion of the attached Warrant as is exercisable for a total of _______ shares of Common Stock (using a Fair Market Value of $_______ per share for purposes of this calculation); and/or

 

	___	the cancellation of such number of shares of Common Stock as is necessary, in accordance with the formula set forth in Section 2 of the Warrant, to exercise this Warrant with respect to the maximum number of shares of Common Stock purchasable pursuant to the cashless exercise procedure set forth in Section 2.

 

After application of the cashless exercise feature as described
above, _____________ shares of Common Stock are required to be delivered pursuant to the instructions below.

 

The undersigned requests that the certificates for such shares
be issued in the name of, and delivered to __________________________________________, whose address is ___________________________.
_______________________________________________________________________________________________.

 

The undersigned represents and warrants that all offers and
sales by the undersigned of the securities issuable upon exercise of the within Warrant shall be made pursuant to registration
of the Common Stock under the Securities Act of 1933, as amended (the “Securities Act”), or pursuant to an exemption
from registration under the Securities Act.

 

    	 	A-1	 

     

    

 

	Dated:___________________	 	 
	 	 	
        (Signature must conform to name of holder as

        specified on the face of the Warrant)

	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	(Address)

 

    	 	A-2	 

     

    

 

Exhibit B

 

FORM OF TRANSFEROR ENDORSEMENT

(To be signed only on transfer of Warrant)

 

For value received,
the undersigned hereby sells, assigns, and transfers unto the person(s) named below under the heading “Transferees”
the right represented by the within Warrant to purchase the percentage and number of shares of Common Stock of JERRICK MEDIA HOLDINGS,
INC. to which the within Warrant relates specified under the headings “Percentage Transferred” and “Number Transferred,”
respectively, opposite the name(s) of such person(s) and appoints each such person Attorney to transfer its respective right on
the books of JERRICK MEDIA HOLDINGS, INC., with full power of substitution in the premises.

 

	Transferees	 	Percentage Transferred	 	Number Transferred
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

	Dated: __________________, _______	 	 
	 	 	
        (Signature must conform to name of holder as specified

        on the face of the warrant)

	 	 	 
	Signed in the presence of: 	 	 
	 	 	 
	 	 	 
	(Name)	 	 
	 	 	(address)
	 	 	 
	ACCEPTED AND AGREED:	 	 
	[TRANSFEREE]	 	 
	 	 	(address)
	 	 	 
	 	 	 
	(Name)	 	 

 

 

B-1

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