Document:

Exhibit 10.1

 

THESE SECURITIES HAVE NOT BEEN REGISTERED
FOR OFFER OR SALE UNDER THE SECURITIES ACT OF 1933 OR ANY STATE SECURITIES LAWS. THEY MAY NOT BE SOLD OR OFFERED FOR SALE EXCEPT
PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER SAID ACT AND ANY APPLICABLE STATE SECURITIES LAW OR AN APPLICABLE EXEMPTION
FROM SUCH REGISTRATION REQUIREMENTS.

SECURITIES PURCHASE AGREEMENT

SECURITIES PURCHASE
AGREEMENT (“Agreement”) dated as of March , 2017, between Ameri Holdings, Inc., a Delaware corporation
(the “Company”), and [NAME] (the “Purchaser”). Capitalized terms used herein and not
otherwise defined shall have the meanings set forth in the Note (as defined below).

W I T N E S S E T H:

WHEREAS,
the Company desires to sell, and the Purchaser desires to purchase, an 8% Convertible Unsecured Promissory Note due March , 2020
of the Company, which note shall be in the aggregate principal amount of [AMOUNT] ($ ) and shall be in substantially the form of
Exhibit A hereto (the “Note”);

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

ARTICLE
I

Purchase and Sale of the Note

Section
1.1     Purchase of the Note. At the Closing (as hereinafter defined) and subject to the
terms and conditions hereof and in reliance upon the representations, warranties and agreements contained herein, the Company will
issue and sell the Note to the Purchaser, and the Purchaser will purchase the Note from the Company, for the purchase price equal
to the original principal amount of the Note (the “Purchase Price”). For purposes hereof, the term “Conversion
Shares” means any shares of common stock, par value $0.01 per share, of the Company (“Common Stock”),
into which the Note is convertible according to its terms.

Section
1.2     The Closing. The purchase and sale of the Note shall take place at a closing (the
“Closing”) on the date hereof or such other date as the Purchaser and the Company may agree upon (the “Closing
Date”). At the Closing, the Company shall deliver to the Purchaser the Note purchased hereunder, registered in the name
of the Purchaser or its nominee. On the Closing Date, the Purchaser shall deliver by wire transfer the cash Purchase Price hereunder
to an account designated in writing by the Company. In addition, each party shall deliver all documents, instruments and writings
required to be delivered by such party pursuant to this Agreement at or prior to the Closing.

    	 	 	 

     

    

Section
1.3     Registration Rights Agreement. At the Closing, the Company and the Purchaser will
enter into a Registration Rights Agreement in substantially the form set forth as Exhibit B hereto (the “Registration
Rights Agreement”).

ARTICLE
II

Representations and Warranties

Section
2.1     Representations and Warranties of the Company. The Company hereby makes the following
representations and warranties to the Purchaser as of the date hereof and the Closing Date:

(a)     Organization
and Qualification; Material Adverse Effect. The Company is a corporation duly incorporated and existing in good standing under
the laws of the State of Delaware and has the requisite corporate power to own its properties and to carry on its business as now
being conducted. The Company is duly qualified as a foreign corporation to do business and is in good standing in every jurisdiction
in which the nature of the business conducted or property owned by it makes such qualification necessary other than those in which
the failure so to qualify would not have a Material Adverse Effect. “Material Adverse Effect” means any adverse
effect on the business, operations, properties, prospects or financial condition of the Company and its subsidiaries, if any, and
which is (either alone or together with all other adverse effects) material to the Company and its subsidiaries.

(b)     Authorization;
Enforcement. (i) The Company has all requisite corporate power and authority to enter into and perform this Agreement, the
Note, the Registration Rights Agreement and any other agreements or documents delivered by the Company at the Closing (“Transaction
Documents”) and to issue the Note in accordance with the terms hereof, (ii) the execution and delivery of the Transaction
Documents by the Company and the consummation by it of the transactions contemplated hereby and thereby, including the issuance
of the Note, have been duly authorized by all necessary corporate action, and no further consent or authorization of the Company
or its Board of Directors (or any committee or subcommittee thereof) or stockholders is required, (iii) the Transaction Documents
have been duly executed and delivered by the Company, (iv) the Transaction Documents constitute valid and binding obligations of
the Company enforceable against the Company, except as such enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium, liquidation or similar laws relating to, or affecting generally the enforcement of creditors’
rights and remedies or by other equitable principles of general application, and (v) the Conversion Shares have been duly authorized
and, upon issuance thereof and payment therefor in accordance with the terms of the Note, as the case may be, will be validly issued,
fully paid and non-assessable, free and clear of any and all liens, claims and encumbrances.

(c)     No
Conflicts. The execution, delivery and performance of the Transaction Documents by the Company and the consummation by the
Company of the transactions contemplated hereby and thereby and issuance of the Note and the Conversion Shares will not (i) result
in a violation of the Certificate of Incorporation of the Company, as amended; (ii) conflict with, or constitute a default (or
an event which with notice or lapse of time or both would become a default) under, or give to others any rights of termination,
amendment, acceleration or cancellation of, any agreement, indenture or instrument to which the Company or any of its subsidiaries
is a party, or (iii) to the Company’s knowledge result in a violation of any law, rule, regulation, order, judgment or decree
(including United States federal and state securities laws) applicable to the Company or any of its subsidiaries or by which any
property or asset of the Company or any of its subsidiaries is bound or affected, except in the case of clause (ii), such conflicts
that would not have a Material Adverse Effect.

    	 	2	 

     

    

(d)     SEC
Documents. Since December 31, 2016, the Company has filed all reports, schedules, forms, statements and other documents required
to be filed by it with the Securities and Exchange Commission (the “SEC”) pursuant to the reporting requirements
of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (all of the foregoing filed prior to
the date hereof and all exhibits included therein and financial statements and schedules thereto and documents incorporated by
reference therein being hereinafter referred to as the “SEC Documents”). To the Company’s knowledge, as
of their respective dates, the SEC Documents complied in all material respects with the requirements of the Exchange Act and the
rules and regulations of the SEC promulgated thereunder applicable to the SEC Documents, and none of the SEC Documents, at the
time they were filed with the SEC, contained any untrue statement of a material fact or omitted to state a material fact required
to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were
made, not misleading.

(e)     No
Contemplated Bankruptcy. On the date hereof, the Company does not contemplate and has no knowledge of any person contemplating
the filing of any petition against the Company or any subsidiary under any federal or state bankruptcy, insolvency, receivership
or other such law. The Company does not intend to, and does not believe that it will, incur debts and liabilities (including, among
other things, contingent liabilities and other commitments) beyond its ability to pay such debts as they mature (taking into account
the timing and amounts to be payable on or in respect of obligations of Company). The execution, delivery, observance, performance
and fulfillment of Company’s obligations and duties under this Agreement will not render the Company insolvent or unable
to pay its debts as they become due. The Company has (a) not entered into the transactions contemplated by this Agreement with
the actual intent to hinder, delay, or defraud any creditor and (b) received reasonably equivalent value in exchange for its obligations
under this Agreement.

Section
2.2     Representations and Warranties of the Purchaser. The Purchaser hereby makes the
following representations and warranties to the Company as of the date hereof and the Closing Date:

(a)     Accredited
Investor Status; Sophisticated Purchaser. The Purchaser is an “accredited investor” as that term is defined in
Rule 501(a) of Regulation D under the Securities Act of 1933, as amended (the “Securities Act”). The Purchaser
has such knowledge and experience in financial and business matters that the Purchaser is capable of evaluating the merits and
risks of the purchase of the Note and the Conversion Shares. The Purchaser is not registered as a broker or dealer under Section
15(a) of the Exchange Act, affiliated with any broker or dealer registered under Section 15(a) of the Exchange Act, or a member
of the Financial Industry Regulatory Authority.

    	 	3	 

     

    

(b)     Information.
The Purchaser and its advisors, if any, have been furnished with all materials relating to the business, finances and operations
of the Company which have been requested and materials relating to the offer and sale of the Note and the Conversion Shares, which
have been requested by the Purchaser. The Purchaser and its advisors, if any, have been afforded the opportunity to ask questions
of the Company. The Purchaser acknowledges that its purchase of the Note and (if applicable) the Conversion Shares involves a high
degree of risk and that Purchaser may never recover Purchaser’s investment in these securities.

(c)     Investment
Representation. The Purchaser is purchasing the Note for the Purchaser’s own account and not with a view to distribution
in violation of any securities laws. The Purchaser has been advised and understands that neither the Note nor the Conversion Shares
have been registered under the Securities Act or under the “blue sky” laws of any jurisdiction and may be resold only
if registered pursuant to the provisions of the Securities Act or if an exemption from registration is available, except under
circumstances where neither such registration nor such an exemption is required by law. The Purchaser has been advised and understands
that the Company, in issuing the Note, is relying upon, among other things, the representations and warranties of the Purchaser
contained in this Section 2.2 in concluding that such issuance is a “private offering” and is exempt from the registration
provisions of the Securities Act.

(d)     Rule
144. The Purchaser understands that there is no public trading market for the Note, that none is expected to develop, and that
the Note must be held indefinitely unless and until such Note, or if applicable, the Conversion Shares, are registered under the
Securities Act or an exemption from registration is available. The Purchaser has been advised or is aware of the provisions of
Rule 144 promulgated under the Securities Act.

ARTICLE
III

Covenants and Acknowledgments

Section
3.1     Junior, Subordinated Status of the Note. The Note shall be junior and subordinate
to, and the Company shall be permitted to incur, any indebtedness under a Qualified Credit Facility. For purposes hereof, a “Qualified
Credit Facility” shall mean any secured or unsecured credit facility that the Company may obtain after the date hereof
from a lender that makes commercial loans or extends commercial credit facilities in the ordinary course of its business which
is secured by inventory and/or accounts receivable. Purchaser hereby agrees to execute any acknowledgment or sign any reasonable
subordination agreement evidencing the fact that the Note is subordinate to such a credit facility in all respects, including
right of payment and security.

    	 	4	 

     

    

ARTICLE
IV

Legend and Stock

Upon payment therefor
as provided in this Agreement, the Company will issue the Note in the name the Purchaser or its designees and in such denominations
to be specified by the Purchaser prior to (or from time to time subsequent to) Closing. The Note and any certificate representing
Conversion Shares issued upon conversion thereof, prior to such Conversion Shares being registered under the Securities Act for
resale or available for resale under Rule 144 under the Securities Act, shall be stamped or otherwise imprinted with a legend in
substantially the following form:

THESE SECURITIES
HAVE NOT BEEN REGISTERED FOR OFFER OR SALE UNDER THE SECURITIES ACT OF 1933 OR ANY STATE SECURITIES LAWS. THEY MAY NOT BE SOLD
OR OFFERED FOR SALE EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER SAID ACT AND ANY APPLICABLE STATE SECURITIES LAW
OR AN APPLICABLE EXEMPTION FROM SUCH REGISTRATION REQUIREMENTS.

The Company agrees
to reissue the Note and Conversion Shares without the legend set forth above, at such time as (i) the holder thereof is permitted
to dispose of securities pursuant to Rule 144 under the Securities Act, or (ii) such securities are sold to a purchaser or purchasers
who (in the opinion of counsel to the seller or such purchaser(s), in form and substance reasonably satisfactory to the Company
and its counsel) are able to dispose of such shares publicly without registration under the Securities Act, or (iii) such securities
have been registered under the Securities Act.

ARTICLE
V

Governing Law; Miscellaneous

Section 5.1     Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND INTERPRETED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO THE PRINCIPLES OF CONFLICT OF LAWS.

Section 5.2     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 shall be considered due execution and shall be binding
upon the signatory thereto with the same force and effect as if the signature were an original, not a facsimile signature.

Section 5.3     Headings. The headings of this Agreement are for convenience of reference and shall
not form part of, or affect the interpretation of, this Agreement.

Section 5.4     Severability.
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.

    	 	5	 

     

    

Section 5.5     Entire Agreement; Amendments; Waivers. This Agreement supersedes all other prior
oral or written agreements between the Purchaser, the Company, their affiliates and persons acting on their behalf with respect
to the matters discussed herein, and this Agreement and the instruments referenced herein (including the other Transaction Documents)
contain the entire understanding of the parties with respect to the matters covered herein and therein and, except as specifically
set forth herein or therein, neither the Company nor the Purchaser makes any representation, warranty, covenant or undertaking
with respect to such matters. In addition:

(a)     The
provisions of this Agreement may from time to time be amended, modified or waived, if such amendment, modification or waiver is
in writing and consented to by the Company and the Purchaser.

(b)     Except
as provided herein, no failure or delay on the part of the Purchaser in exercising any power or right under this Agreement shall
operate as a waiver thereof, nor shall any single or partial exercise of any such power or right preclude any other or further
exercise thereof or the exercise of any other power or right. No notice to or demand on the Company in any case shall entitle it
to any notice or demand in similar or other circumstances. No waiver or approval by the Purchaser shall, except as may be otherwise
stated in such waiver or approval, be applicable to subsequent transactions. No waiver or approval hereunder shall require any
similar or dissimilar waiver or approval thereafter to be granted hereunder.

Section 5.6     Notices. Any notices, consents, waivers or other communications required or permitted
to be given under the terms of this Agreement must be in writing, must be delivered by (i) hand delivery, (ii) nationally recognized
overnight carrier or (iii) email, and will be deemed to have been delivered upon receipt. The addresses and facsimile numbers for
such communications shall be:

If to the Company:

Ameri Holdings, Inc.

100 Canal Pointe Blvd., Suite 108

Princeton, New Jersey 08540

Telephone: (732) 243-9250

Attention: Mr. Giri Devanur, President and Chief Executive Officer

Email: giri.devanur@ameri100.com

With a copy to:

Olshan Frome Wolosky LLP

1325 Avenue of the Americas

New York, New York 10019

Telephone: (212) 451-2289

Attention: Adam W. Finerman, Esq.

Email: afinerman@olshanlaw.com

 

    	 	6	 

     

    

 

If to the Transfer Agent:

Corporate Stock Transfer

3200 Cherry Creek Drive South,
Suite 430

Denver, Colorado 80209

Telephone: (303) 282-4800

Attention: Ms. Shari Humpherys

Email: shumpherys@corporatestock.com

If to the Purchaser:

[NAME]

[ADDRESS]

Telephone:

Email:

 

Each party shall
provide five (5) days prior written notice to the other party of any change in address, telephone number or facsimile number. 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 containing the time, date, recipient facsimile number 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.

Section
5.7     Successors and Assigns. Except as otherwise provided herein, this Agreement shall
be binding upon and inure to the benefit of the parties and their respective successors and assigns, including any permitted assignee
of the Note. The Purchaser may assign some or all of its rights hereunder to any permitted assignee of the Note; provided,
however, that any such assignment shall not release the Purchaser from its obligations hereunder unless such obligations
are assumed by such assignee and the Company has consented to such assignment and assumption.

Section
5.8     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.

Section
5.9     Survival. The representations, warranties, agreements and covenants in this Agreement
shall survive the Closing.

[Signature Page
Follows]

    	 	7	 

     

    

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

	 	COMPANY:
	 	 
	 	 
	 	AMERI HOLDINGS, INC.
	 	 
	 	By:	 
	 	 	Name:  	Giri Devanur
	 	 	Title:	President and Chief Executive Officer 

	 	PURCHASER:
	 	 
	 	 
	 	 
	 	[NAME]

 

    	 	8	 

     

    

 

EXHIBIT A

Form of Note

 

 

     

     

    

EXHIBIT B

Form of Registration Rights AgreementExhibit 10.2

 

THESE SECURITIES HAVE NOT BEEN REGISTERED FOR OFFER OR SALE UNDER THE SECURITIES ACT OF 1933 OR
ANY STATE SECURITIES LAWS. THEY MAY NOT BE SOLD OR OFFERED FOR SALE EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER
SAID ACT AND ANY APPLICABLE STATE SECURITIES LAW OR AN APPLICABLE EXEMPTION FROM SUCH REGISTRATION REQUIREMENTS.

 

8% CONVERTIBLE UNSECURED PROMISSORY
NOTE DUE MARCH , 2020

OF 

AMERI HOLDINGS, INC.

	Original Issuance Date: March    , 2017	Original Principal Amount: $_______
	 	Princeton, New Jersey

 

THIS NOTE (this
“Note”) is duly authorized and issued by Ameri Holdings, Inc., a Delaware corporation (the “Company”),
and designated as the Company’s 8% Convertible Unsecured Promissory Note in the original principal amount of [AMOUNT] U.S.
Dollars ($ ). All principal and unpaid interest under this Note shall become due and payable on March , 2020 (the “Maturity
Date”).

FOR VALUE RECEIVED,
the Company hereby promises to pay to the order of [NAME], or his registered assigns or successors-in-interest (the “Holder”),
the principal sum of [AMOUNT] U.S. Dollars ($ ) together with all accrued but unpaid interest thereon, if any, on the Maturity
Date, in accordance with the terms hereof. Interest on the unpaid principal balance hereof shall accrue at the rate of 8% per annum
from the original date of issuance, March __, 2017 (the “Issuance Date”), until the same becomes due and payable
on the Maturity Date, or such earlier date upon acceleration or by redemption in accordance with the terms hereof or of the other
Transaction Documents. Interest on this Note shall accrue daily commencing on the Issuance Date and shall be computed on the basis
of a 360-day year, 30-day months and actual days elapsed and shall be payable in accordance with Section 1 hereof. Notwithstanding
anything to the contrary contained herein, this Note shall bear interest on the due and unpaid Principal Amount from and after
the occurrence and during the continuance of an Event of Default pursuant to Section 3(a), at the rate (the “Default Rate”)
equal to the lower of ten percent (10%) per annum or the highest rate permitted by law. Unless otherwise agreed or required by
applicable law, payments will be applied first to any unpaid collection costs, then to unpaid interest and fees and any remaining
amount to principal.

Except as otherwise
provided herein, all payments of principal and interest on this Note shall be made in lawful money of the United States of America
by wire transfer of immediately available funds to such account as the Holder may from time to time designate by written notice
in accordance with the provisions of this Note. This Note may be prepaid in whole or in part at any time without penalty. Whenever
any amount expressed to be due by the terms of this Note is due on any day which is not a Business Day (as defined below), the
same shall instead be due on the next succeeding day which is a Business Day.

    	 	 	 

     

    

Capitalized terms
used herein and not otherwise defined shall have the meanings set forth in the Securities Purchase Agreement, dated as of the Issuance
Date, pursuant to which the Note was originally issued (the “Purchase Agreement”). For purposes hereof, the
following terms shall have the meanings ascribed to them below:

“Business
Day” shall mean any day other than a Saturday, Sunday or a day on which commercial banks in the City of New York, State
of New York are authorized or required by law or executive order to remain closed.

“Conversion
Price” shall mean (i) in the event that any registration statement for the public offering of Common Stock filed by the
Company with the SEC in connection with an uplisting to a national stock exchange is declared effective by the SEC on or prior
to December 31, 2017, such price per share that is equal to 68% of the price per share of Common Stock offered and sold pursuant
to such registration statement, or (ii) if no such registration statement is declared effective by December 31, 2017, such price
per share that is equal to the weighted average closing price per share of the Company’s Common Stock for the 20 trading
days immediately preceding December 31, 2017, in either case as adjusted as set forth herein.

“Convertible
Securities” means any convertible securities, warrants, options or other rights to subscribe for or to purchase or exchange
for, shares of Common Stock.

“Conversion
Shares” means the shares of Common Stock into which this Note is convertible in accordance with the terms hereof.

“Debt”
shall mean indebtedness of any kind.

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

“Principal
Amount” shall refer to the sum of (i) the original principal amount of this Note, (ii) all accrued but unpaid interest
hereunder, and (iii) any default payments owing under the Transaction Documents but not previously paid or added to the Principal
Amount.

“Principal
Market” shall mean the principal market, exchange, or quotation service on which the Common Stock is then listed or quoted
for trading.

“Registration
Statement” shall have the meaning set forth in the Registration Rights Agreement.

“Trading
Day” shall mean a day on which there is trading on the Principal Market.

The following terms
and conditions shall apply to this Note:

Section 1.        Payments
of Principal and Interest.

(a)     Interest
Payments. The Company shall pay all accrued but unpaid interest on the Principal Amount of this Note (the “Annual
Amount”), on the first, second and third anniversaries of the Issuance Date beginning on March , 2018. The Annual Amount
shall be paid in cash.

    	 	2	 

     

    

(b)     Payment
of Principal. Subject to the provisions hereof, including, without limitation, the right to obtain prepayment of the Principal
Amount provided herein, the Principal Amount of this Note shall be due and payable on the Maturity Date. Payment of the Principal
Amount shall be effected in cash.

(c)     Prepayment
of Principal. On or after March , 2018, the Company shall have the right, but not the obligation, to prepay, in full or in
part, at par the Principal Amount provided herein, along with all accrued but unpaid interest as of the intended date of such prepayment.
The Company shall provide the Holder with 10 Business Days prior notice of its election to prepay all or a portion of the Principal
Amount, and following such notice the Holder shall have such 10 Business Day period to convert such portion of the Principal Amount
to be prepaid into shares of Common Stock pursuant to the conversion terms set forth herein.

(d)     Taxes.
The Company may withhold and pay over to the relevant authorities any appropriate tax or other legally required withholdings from
any interest payment to be made to the Holder to the extent that such withholding is required by the Internal Revenue Code or any
other applicable law, rule, or regulation.

Section 2.        Subordinate
Status. The obligations of the Company hereunder shall rank junior to and be subordinate to all other Qualified Credit
Facility Debt of the Company, whether now or hereinafter existing, as set forth in Section 3.1 of the Purchase Agreement.

THIS 8% CONVERTIBLE
UNSECURED NOTE IS SUBJECT TO THE TERMS OF A SUBORDINATION AGREEMENT IN FAVOR OF STERLING NATIONAL BANK, WHICH SUBORDINATION AGREEMENT
IS INCORPORATED HEREIN BY REFERENCE. NOTWITHSTANDING ANY CONTRARY STATEMENT CONTAINED IN THE WITHIN THIS 8% CONVERTIBLE UNSECURED
NOTE, NO PAYMENT ON ACCOUNT OF PRINCIPAL OR INTEREST THEREOF SHALL BECOME DUE OR BE PAID EXCEPT IN ACCORDANCE WITH THE TERMS OF
SUCH SUBORDINATION AGREEMENT.

Section 3.        Defaults
and Remedies.

(a)     Events
of Default. An “Event of Default” is: (i) a default in payment of the Principal Amount, when due, or failure
to pay any accrued but unpaid interest thereon of the Note within five (5) Business Days after the date such interest payment
is due; (ii) a default in the timely issuance of the Conversion Shares upon and in accordance with the terms hereof (where for
purposes of this Note, the term timely shall mean within ten (10) days following the conversion date) (iii) failure by the Company
for thirty (30) days after written notice has been received by the Company to comply with any other material provision of the
Note, the Purchase Agreement or the Transaction Documents, (iv) a material breach by the Company of its representations or warranties
in the Purchase Agreement or Transaction Documents that remains uncured for thirty (30) business days after notice to the Company;
or (v) if the Company or any of its subsidiaries is subject to any Bankruptcy Event. “Bankruptcy Event” means
any of the following events: (a) the Company or any subsidiary commences a case or other proceeding under any bankruptcy, reorganization,
arrangement, adjustment of debt, relief of debtors, dissolution, insolvency or liquidation or similar law of any jurisdiction
relating to the Company or any subsidiary thereof; (b) there is commenced against the Company or any subsidiary any such case
or proceeding that is not dismissed within 30 days after commencement; (c) the Company or any subsidiary is adjudicated insolvent
or bankrupt or any order of relief or other order approving any such case or proceeding is entered; (d) the Company or any subsidiary
suffers any appointment of any custodian or the like for it or any substantial part of its property that is not discharged or
stayed within 30 days; (e) the Company or any subsidiary makes a general assignment for the benefit of creditors; (f) the Company
or any subsidiary, by any act or failure to act, expressly indicates its consent to, approval of or acquiescence in any of the
foregoing or takes any corporate or other action for the purpose of effecting any of the foregoing.

    	 	3	 

     

    

(b)     Remedies.
If an Event of Default occurs and is continuing with respect to the Note, the Holder may declare all of the then outstanding Principal
Amount of this Note, including any interest due thereon, to be due and payable immediately. The Company shall pay interest on such
amount in cash at the Default Rate to the Holder if such amount is not paid within two (2) days of Holder’s request. The
remedies under this Note shall be cumulative.

Section 4.        Certain
Negative Covenants. The Company hereby covenants and agrees that, for so long as the Note remains outstanding, unless the
Holder shall otherwise consent in writing, the Company shall not, and shall not permit any subsidiary to, directly or indirectly
after the date hereof declare, pay or make any dividend or distribution on any Common Stock, other than dividends or distributions
payable in its stock, or Convertible Securities, or split-ups or reclassifications of its stock into additional or other shares
of its stock.

Section 5.        Conversion.

(a)     Conversion
by Holder. From and after the earlier of (i) December 31, 2017 and (ii) the date of effectiveness of any registration statement
for the public offering of Common Stock filed by the Company with the SEC in connection with an uplisting to a national stock exchange
and subject to the terms hereof and restrictions and limitations contained herein, the Holder shall have the right, at Holder’s
option, at any time and from time to time to convert, in part or in whole, the outstanding Principal Amount and all accrued and
unpaid interest under this Note into shares of the Company’s common stock, par value $0.01 per share (“Common Stock”),
at the then applicable Conversion Price, by delivering to the Company a fully executed notice of conversion in the form of conversion
notice attached hereto as Exhibit A (the “Conversion Notice”), which may be transmitted by facsimile
(with the original mailed on the same date by certified or registered mail, postage prepaid and return receipt requested). The
Conversion Notice shall specify a date for the conversion to be effective, which date shall be no earlier than the date on which
the Conversion Notice is delivered (the “Conversion Date”), and the Conversion Notice shall be irrevocable when
delivered.

(b)     Conversion
Procedures. Upon conversion of this Note pursuant to this Section 5, the outstanding Principal Amount hereunder shall be converted
into such number of fully paid, validly issued and non-assessable shares of Common Stock, free of any liens, claims and encumbrances,
as is determined by dividing the outstanding Principal Amount being converted by the then applicable Conversion Price and any
accrued but unpaid interest shall be paid in cash. The Company will deliver to the Holder not later than three (3) Trading Days
after the Conversion Date, a certificate or certificates which shall be free of restrictive legends and trading restrictions (assuming
that the Registration Statement has been declared effective), representing the number of shares of Common Stock being acquired
upon the conversion of this Note.

    	 	4	 

     

    

(c)     Conversion
Price Adjustments.

          (i)     Stock
Dividends, Splits and Combinations. If the Company or any of its subsidiaries, at any time while the Note is outstanding (A)
shall pay a stock dividend or otherwise make a distribution or distributions on any equity securities (including instruments or
securities convertible into or exchangeable for such equity securities but excluding any stockholder rights granted pursuant to
a poison pill) in shares of Common Stock, (B) subdivide outstanding Common Stock into a larger number of shares, (C) combine outstanding
Common Stock into a smaller number of shares, or (D) issues new securities by reclassification of the shares of Common Stock of
the Company, then, and in each such case, the Conversion Price in effect immediately prior to such event or the record date therefor,
whichever is earlier, shall be adjusted so that the Holder shall be entitled to receive the number of shares of Common Stock or
other securities of the Company which such Holder would have owned or have been entitled to receive after the occurrence of any
of the events described above, had such Note been surrendered for conversion immediately prior to the occurrence of such event
or record date therefore, whichever is earlier. Any adjustment made pursuant to this Section 5(c) shall become effective (x) in
the case of any such dividend or distribution, immediately after the close of business on the record date for the determination
of holders of shares of Common Stock entitled to receive such dividend or distribution, or (y) in the case of such subdivision,
reclassification or combination, at the close of business on the day upon which such corporate action becomes effective.

          (ii)     Distributions.
If the Company or any of its subsidiaries, at any time while the Note is outstanding, shall distribute to all holders of Common
Stock evidences of its indebtedness or assets or cash or rights or warrants to subscribe for or purchase any security of the Company
or any of its subsidiaries (excluding those referred to in Section 5(c)(i) above), then concurrently with such distributions to
holders of Common Stock, the Company shall distribute to the Holder of this Note the amount of such indebtedness, assets, cash
or rights or warrants which the Holder of this Note would have received had this Note been converted into Common Stock at the then
applicable the Conversion Price immediately prior to the record date for such distribution.

          (iii)     Rounding
of Adjustments. All calculations under this Section 5(c) shall be made to the nearest cent or the nearest 1/100th of a share,
as the case may be.

          (iv)     Notice
of Adjustments. Whenever the Conversion Price is adjusted pursuant to this Section 5(c), the Company shall promptly deliver
to the Holder of this Note, a notice setting forth the Conversion Price after such adjustment and setting forth a brief statement
of the facts requiring such adjustment, provided that any failure to so provide such notice shall not affect the automatic adjustment
hereunder.

          (v)     Fundamental
Changes. In case any transaction or event (including, without limitation, any merger, consolidation, combination, recapitalization,
sale of assets, tender or exchange offer, reclassification, compulsory share exchange or liquidation) shall occur in which all
or substantially all outstanding shares of Common Stock are converted into or exchanged or acquired for or constitute the right
to receive stock, or other securities, cash, property or assets (each, “Fundamental Change”), the Holder of
this Note outstanding immediately prior to the occurrence of such Fundamental Change shall have the right upon any subsequent
conversion to receive the kind and amount of stock, other securities, cash, property or assets that such holder would have received
if such share had been converted immediately prior to such Fundamental Change.

    	 	5	 

     

    

(d)     Reservation
and Issuance of Conversion Shares. The Company covenants that it will at all times reserve and keep available out of its authorized
and unissued Common Stock solely for the purpose of issuance upon conversion of this Note, free from preemptive rights or any other
actual contingent purchase rights of persons other than the Holder of this Note, not less than such number of shares of Common
Stock as shall be issuable (taking into account the adjustments under this Section 5) upon the conversion of this Note hereunder
in Common Stock. The Company covenants that all shares of Common Stock that shall be so issuable shall, upon issue, be duly authorized,
validly issued, fully paid, nonassessable and freely tradeable.

(e)     No
Fractions. Upon a conversion hereunder the Company shall not be required to issue stock certificates representing fractions
of shares of Common Stock, but may if otherwise permitted, make a cash payment in respect of any final fraction of a share based
on the closing price of a share of Common Stock at such time. If the Company elects not, or is unable, to make such cash payment,
the Holder shall be entitled to receive, in lieu of the final fraction of a share, one whole share of Common Stock.

(f)     Charges,
Taxes and Expenses. Issuance of certificates for shares of Common Stock upon the conversion of this Note (including repayment
in stock) shall be made without charge to the holder hereof for any issue or transfer tax or other incidental expense in respect
of the issuance of such certificate, all of which taxes and expenses shall be paid by the Company, and such certificates shall
be issued in the name of the Holder or in such name or names as may be directed by the Holder; provided, however,
that in the event certificates for shares of Common Stock are to be issued in a name other than the name of the Holder, this Note
when surrendered for conversion shall be accompanied by an assignment form; and provided further, that the Company shall
not be required to pay any tax or taxes which may be payable in respect of any such transfer.

(g)     Cancellation.
After all of the Principal Amount (including accrued but unpaid interest and default payments at any time owed on this Note) has
been paid in full or converted into Common Stock, this Note shall automatically be deemed canceled and the Holder shall promptly
surrender the Note to the Company at the Company’s principal executive offices.

Section 6.        General.

(a)     Payment
of Expenses. The Company agrees to pay all reasonable charges and expenses, including attorneys’ fees and expenses, which
may be incurred by the Holder in successfully enforcing this Note and/or collecting any amount due under this Note.

    	 	6	 

     

    

(b)     Savings
Clause. In case any provision of this Note is held by a court of competent jurisdiction to be excessive in scope or otherwise
invalid or unenforceable, such provision shall be adjusted rather than voided, if possible, so that it is enforceable to the maximum
extent possible, and the validity and enforceability of the remaining provisions of this Note will not in any way be affected or
impaired thereby. In no event shall the amount of interest paid hereunder exceed the maximum rate of interest on the unpaid principal
balance hereof allowable by applicable law. If any sum is collected in excess of the applicable maximum rate, the excess collected
shall be applied to reduce the principal debt. If the interest actually collected hereunder is still in excess of the applicable
maximum rate, the interest rate shall be reduced so as not to exceed the maximum allowable under law.

(c)     Amendment.
Neither this Note nor any term hereof may be amended, waived, discharged or terminated other than by a written instrument signed
by the Company and the Holder.

(d)     Assignment,
etc. The Holder may assign or transfer this Note to any transferee. The Holder shall notify the Company of any such assignment
or transfer promptly. This Note shall be binding upon the Company and its successors and shall inure to the benefit of the Holder
and its successors and permitted assigns.

(e)     No
Waiver. No failure on the part of the Holder to exercise, and no delay in exercising any right, remedy or power hereunder shall
operate as a waiver thereof, nor shall any single or partial exercise by the Holder of any right, remedy or power hereunder preclude
any other or future exercise of any other right, remedy or power. Each and every right, remedy or power hereby granted to the Holder
or allowed it by law or other agreement shall be cumulative and not exclusive of any other, and may be exercised by the Holder
from time to time.

(f)      Governing
Law; Jurisdiction.

          (i)     Governing
Law. THIS NOTE WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO ANY
CONFLICTS OF LAWS PROVISIONS THEREOF THAT WOULD OTHERWISE REQUIRE THE APPLICATION OF THE LAW OF ANY OTHER JURISDICTION.

          (ii)     Jurisdiction.
The Company irrevocably submits to the jurisdiction of any State or Federal Court sitting in the State of New York, County of
New York, over any suit, action, or proceeding arising out of or relating to this Note. The Company irrevocably waives, to the
fullest extent permitted by law, any objection which it may now or hereafter have to the laying of the venue of any such suit,
action, or proceeding brought in such a court and any claim that suit, action, or proceeding has been brought in an inconvenient
forum.

            The Company agrees that the service of process upon it mailed by certified or registered mail, postage prepaid and return
receipt requested (and service so made shall be deemed complete three days after the same has been posted as aforesaid) or by
personal service shall be deemed in every respect effective service of process upon it in any such suit or proceeding. Nothing
herein shall affect Holder’s right to serve process in any other manner permitted by law. The Company agrees that a final
non-appealable judgment in any such suit or proceeding shall be conclusive and may be enforced in other jurisdictions by suit
on such judgment or in any other lawful manner.

    	 	7	 

     

    

          (iii)     NO
JURY TRIAL. THE COMPANY HEREBY KNOWINGLY AND VOLUNTARILY WAIVES ANY AND ALL RIGHTS IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT
TO ANY LITIGATION BASED ON, OR ARISING OUT OF, UNDER, OR IN CONNECTION WITH, THIS NOTE.

(g)     Replacement
Notes. This Note may be exchanged by Holder at any time and from time to time for a Note or Notes with different denominations
representing an equal aggregate outstanding Principal Amount, as reasonably requested by Holder, upon surrendering the same. No
service charge will be made for such registration or exchange. In the event that Holder notifies the Company that this Note has
been lost, stolen or destroyed, a replacement Note identical in all respects to the original Note (except for registration number
and Principal Amount, if different than that shown on the original Note), shall be issued to the Holder, provided that the Holder
executes and delivers to the Company an agreement reasonably satisfactory to the Company to indemnify the Company from any loss
incurred by it in connection with the Note.

(h)     Notices
Procedures. Any and all notices or other communications or deliveries to be provided by the Holder hereunder, shall be in writing
and delivered personally, by confirmed facsimile, or by a nationally recognized overnight courier service to the Company at the
facsimile telephone number or address of the principal place of business of the Company as set forth in the Purchase Agreement.
Any and all notices or other communications or deliveries to be provided by the Company hereunder shall be in writing and delivered
personally, by facsimile, or by a nationally recognized overnight courier service addressed to the Holder at the facsimile telephone
number or address of the Holder appearing on the books of the Company, or if no such facsimile telephone number or address appears,
at the principal place of business of the Holder. Any notice or other communication or deliveries hereunder shall be deemed delivered
(i) upon receipt, when delivered personally, (ii) when sent by facsimile, upon receipt if received on a Business Day prior to 5:00
p.m. (Eastern Time), or on the first Business Day following such receipt if received on a Business Day after 5:00 p.m. (Eastern
Time) or (iii) upon receipt, when deposited with a nationally recognized overnight courier service.

    	 	8	 

     

    

IN WITNESS WHEREOF,
the Company has caused this Note to be duly executed on the date first set forth above.

	 	AMERI HOLDINGS, INC.
	 	 
	 	By:	 
	 	 	Name:	Giri Devanur
	 	 	Title:	President and Chief Executive Officer

    	 	9	 

     

    

EXHIBIT A

FORM OF CONVERSION NOTICE

(To be executed by the Holder

in order to convert a Note)

The undersigned hereby elects to convert
the outstanding Principal Amount (as defined in the Note) indicated below of this Note into shares of Common Stock, par value $0.01
per share (the “Common Stock”), of AMERI HOLDINGS, INC. (the “Company”) according to the conditions hereof,
as of the date written below. If shares are to be issued in the name of a person other than the undersigned, the undersigned will
pay all transfer taxes payable with respect thereto and is delivering herewith such certificates and opinions as reasonably requested
by the Company in accordance therewith. No fee will be charged to the holder for any conversion, except for such transfer taxes,
if any.

	Conversion information:	 
	 	Date to Effect Conversion
	 	 
	 	 
	 	Aggregate Principal Amount of Note Being Converted
	 	 
	 	 
	 	Number of shares of Common Stock to be Issued
	 	 
	 	 
	 	Applicable Conversion Price
	 	 
	 	 
	 	Signature
	 	 
	 	 
	 	Name
	 	 
	 	 
	 	Address

 

    	 	10

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00268-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00268-of-00352.parquet"}]]