Document:

WARRANT AGENT AGREEMENT

 

WARRANT AGENT AGREEMENT (this
“Warrant Agreement”) dated as of January 24, 2022 (the “Issuance Date”) between Star Equity Holdings,
Inc., a company incorporated under the laws of the State of Delaware (the “Company”), and American Stock Transfer &
Trust Company, LLC, a New York limited liability trust company (the “Warrant Agent”).

 

WHEREAS, pursuant to
the terms of that certain Underwriting Agreement (“Underwriting Agreement”), dated January 19, 2022, by and between
the Company and Maxim Group LLC, as representative of the several underwriters set forth therein, the Company is engaged in a public offering
(the “Offering”) of (A)(i) an aggregate of 9,175,000 shares of common stock, $0.0001 par value per share (“Common
Stock”) of the Company (the “Firm Shares”), (ii) an aggregate of 325,000 pre-funded warrants (the “Pre-Funded
Warrants”) to purchase up to an aggregate of 325,000 shares of Common Stock, at an exercise price of $0.01 per share and (iii)
an aggregate of 9,500,000 common stock purchase warrants (“Firm Purchase Warrants”) and, (B) at the election of the
Representative, (i) up to an additional 1,425,000 shares of Common Stock (the “Option Shares”) and/or (ii) up to an
additional 1,425,000 common stock purchase warrants (the “Option Purchase Warrants” and together with the Firm Purchase
Warrants, the “Warrants”);

 

WHEREAS, each Warrant
entitles a holder thereof to receive one share of Common Stock upon exercise;

 

WHEREAS, the Company
has filed with the Securities and Exchange Commission (the “Commission”) a Registration Statement on Form S-1 (File
No. 333-261957) (as the same may be amended from time to time, the “Registration Statement”), for the registration
under the Securities Act of 1933, as amended (the “Securities Act”), of the Shares, the Warrants and the Warrant Shares,
and such Registration Statement was declared effective on January 19, 2022;

 

WHEREAS, the Company
desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in accordance with the terms set
forth in this Warrant Agreement in connection with the issuance, registration, transfer, exchange and exercise of the Warrants;

 

WHEREAS, the Company
desires to provide for the provisions of the Warrants, the terms upon which they shall be issued and exercised, and the respective rights,
limitation of rights, and immunities of the Company, the Warrant Agent, and the holders of the Warrants; and

 

WHEREAS, all acts and
things have been done and performed which are necessary to make the Warrants the valid, binding and legal obligations of the Company,
and to authorize the execution and delivery of this Warrant Agreement.

 

NOW, THEREFORE, in
consideration of the mutual agreements herein contained, the parties hereto agree as follows:

 

1. Appointment of Warrant
Agent. The Company hereby appoints the Warrant Agent to act as agent for the Company with respect to the Warrants, and the Warrant
Agent hereby accepts such appointment and agrees to perform the same in accordance with the express terms and conditions set forth in
this Warrant Agreement (and no implied terms or conditions).

 

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2. Warrants. The Warrants
shall be registered securities and shall initially be evidenced by a global certificate (“Global Certificate”) in the
form of Exhibit A to this Warrant Agreement, which shall be deposited on behalf of the Company with a custodian for The Depository
Trust Company (“DTC”) and registered in the name of Cede & Co., a nominee of DTC. If DTC subsequently ceases to
make its book-entry settlement system available for the Warrants, the Company shall instruct the Warrant Agent regarding making other
arrangements for book-entry settlement. In the event that the Warrants are not eligible for, or it is no longer necessary to have the
Warrants available in, book-entry form, the Company shall instruct the Warrant Agent to provide written instructions to DTC to deliver
to the Warrant Agent for cancellation the Global Certificate or Certificates, and the Company shall instruct the Warrant Agent to deliver
to DTC separate certificates evidencing Warrants (“Definitive Certificates” and, together with the Global Certificate,
“Warrant Certificates”) registered as requested through the DTC system. The Warrants, together with the form of election
to purchase Common Stock (the “Notice of Election”) and the form of assignment to be printed on the reverse thereof,
whether a Definitive Certificate or a Global Certificate, shall be substantially in the form of Exhibit A.

 

2.1. Issuance and Registration
of Warrants.

 

2.1.1. Warrant Register.
The Warrant Agent shall maintain books (“Warrant Register”) for the registration of original issuance and the registration
of transfer of the Warrants.

 

2.1.2. Issuance of Warrants.
Upon the initial issuance of the Warrants, the Warrant Agent shall issue the Global Certificates and deliver the Warrants in the DTC book-entry
settlement system in accordance with written instructions delivered to the Warrant Agent by the Company. Ownership of security entitlements
in the Warrants shall be shown on, and the transfer of such ownership shall be effected through, records maintained (i) by DTC and (ii)
by institutions that have accounts with DTC (each, a “Participant”). A Holder has the right to elect at any time or
from time to time a Warrant Exchange (as defined below) pursuant to a Warrant Certificate Request Notice (as defined below). Upon written
notice by a Holder to the Warrant Agent and the Company for the exchange of some or all of such Holder’s Warrants held in book entry
form for a Definitive Certificate evidencing the same number of Warrants, which request shall be in the form attached hereto as Annex
A (a “Warrant Certificate Request Notice” and the date of delivery of such Warrant Certificate Request Notice by
the Holder, the “Warrant Certificate Request Notice Date” and the actual surrender upon delivery by the Holder of a
number of Warrants for the same number of Warrants evidenced by a Definitive Certificate, a “Warrant Exchange”), the
Warrant Agent shall promptly effect the Warrant Exchange and shall promptly issue and deliver to the Holder a Definitive Certificate for
such number of Warrants in the name set forth in the Warrant Certificate Request Notice. Such Definitive Certificate shall be dated the
original issue date of the Warrants and shall be manually executed by an authorized signatory of the Warrant Agent. In connection with
a Warrant Exchange, the Company agrees to deliver, or to direct the Warrant Agent to deliver, the Definitive Certificate to the Holder
within two (2) Business Days of the Warrant Certificate Request Notice pursuant to the delivery instructions in the Warrant Certificate
Request Notice (“Warrant Certificate Delivery Date”). If the Company fails for any reason to deliver to the Holder
the Definitive Certificate subject to the Warrant Certificate Request Notice by the Warrant Certificate Delivery Date, the Company shall
pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of shares of common stock underlying the Warrants
evidenced by such Definitive Certificate (based on the VWAP (as defined in the Warrant) of the Common Stock on the Warrant Certificate
Request Notice Date), $10 per Trading Day (increasing to $20 per Trading Day on the fifth Trading Day after such liquidated damages begin
to accrue) for each Trading Day after such Warrant Certificate Delivery Date until such Definitive Certificate is delivered or, prior
to delivery of such Warrant Certificate, the Holder rescinds such Warrant Exchange. Notwithstanding the forgoing, the Warrant Agent shall
not, in any event, be subject to, or responsible for, liquidated damages or any “buy-in” penalties contemplated in connection
with the Warrants. The Company covenants and agrees that, upon the date of delivery of the Warrant Certificate Request Notice, the Holder
shall be deemed to be the holder of the Definitive Certificate and, notwithstanding anything to the contrary set forth herein, the Definitive
Certificate shall be deemed for all purposes to contain all of the terms and conditions of the Warrants evidenced by such Definitive Certificate
and the terms of this Agreement. In the event a beneficial owner requests a Warrant Exchange, upon issuance of the paper Definitive Certificate,
the Warrant Agent shall continue to act as warrant agent and the terms of the paper Definitive Certificate so issued shall exclusively
govern in respect thereof.

 

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2.1.3. Beneficial Owner;
Holder. Prior to due presentment for registration of transfer of any Warrant, the Company and the Warrant Agent shall deem and treat
the person in whose name that Warrant shall be registered on the Warrant Register (the “Holder”) as the absolute owner
of such Warrant for purposes of any exercise thereof, and for all other purposes, and neither the Company nor the Warrant Agent shall
be affected by any notice to the contrary. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Warrant Agent
or any agent of the Company or the Warrant Agent from giving effect to any written certification, proxy or other authorization furnished
by DTC governing the exercise of the rights of a holder of a beneficial interest in any Warrant. The rights of beneficial owners in a
Warrant evidenced by the Global Certificate shall be exercised by the Holder or a Participant through the DTC system, except to the extent
set forth herein or in the Global Certificate.

 

2.1.4. Execution. The
Warrant Certificates shall be executed on behalf of the Company by any authorized officer of the Company (an “Authorized Officer”),
which need not be the same authorized signatory for all of the Warrant Certificates, either manually or by facsimile signature. The Warrant
Certificates shall be countersigned by an authorized signatory of the Warrant Agent, which need not be the same signatory for all of the
Warrant Certificates, and no Warrant Certificate shall be valid for any purpose unless so countersigned. In case any Authorized Officer
of the Company that signed any of the Warrant Certificates ceases to be an Authorized Officer of the Company before countersignature by
the Warrant Agent and issuance and delivery by the Company, such Warrant Certificates, nevertheless, may be countersigned by the Warrant
Agent, issued and delivered with the same force and effect as though the person who signed such Warrant Certificates had not ceased to
be such officer of the Company; and any Warrant Certificate may be signed on behalf of the Company by any person who, at the actual date
of the execution of such Warrant Certificate, shall be an Authorized Officer of the Company authorized to sign such Warrant Certificate,
although at the date of the execution of this Warrant Agreement any such person was not such an Authorized Officer.

 

2.1.5. Registration of Transfer.
Subject to the provisions of the Warrants, at any time at or prior to the Expiration Date (as defined below), a transfer of any Warrants
may be registered and any Warrant Certificate or Warrant Certificates may be split up, combined or exchanged for another Warrant Certificate
or Warrant Certificates evidencing the same number of Warrants as the Warrant Certificate or Warrant Certificates surrendered. Any Holder
desiring to register the transfer of Warrants or to split up, combine or exchange any Warrant Certificate shall make such request in writing
delivered to the Warrant Agent, and shall surrender to the Warrant Agent the Warrant Certificate or Warrant Certificates evidencing the
Warrants the transfer of which is to be registered or that is or are to be split up, combined or exchanged and, in the case of registration
of transfer, shall provide a signature guarantee. Thereupon, the Warrant Agent shall countersign and deliver to the person entitled thereto
a Warrant Certificate or Warrant Certificates, as the case may be, as so requested. The Company and the Warrant Agent may require payment,
by the Holder requesting a registration of transfer of Warrants or a split-up, combination or exchange of a Warrant Certificate (but,
for purposes of clarity, not upon the exercise of the Warrants and issuance of Warrant Shares to the Holder), of a sum sufficient to cover
any tax or governmental charge that may be imposed in connection with such registration of transfer, split-up, combination or exchange,
together with reimbursement to the Company and the Warrant Agent of all reasonable expenses incidental thereto.

 

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2.1.6. Loss, Theft and Mutilation
of Warrant Certificates. Upon receipt by the Company and the Warrant Agent of evidence reasonably satisfactory to them of the loss,
theft, destruction or mutilation of a Warrant Certificate, and, in case of loss, theft or destruction, of indemnity or security in customary
form and amount, and reimbursement to the Company and the Warrant Agent of all reasonable expenses incidental thereto, and upon surrender
to the Warrant Agent and cancellation of the Warrant Certificate if mutilated, the Warrant Agent shall, on behalf of the Company, countersign
and deliver a new Warrant Certificate of like tenor to the Holder in lieu of the Warrant Certificate so lost, stolen, destroyed or mutilated.
The Warrant Agent may charge the Holder an administrative fee for processing the replacement of lost Warrant Certificates, which shall
be charged only once in instances where a single surety bond obtained covers multiple certificates. The Warrant Agent may receive compensation
from the surety companies or surety agents for administrative services provided to them. 

 

2.1.7. Proxies. The Holder
of a Warrant may grant proxies or otherwise authorize any person, including the Participants and beneficial holders that may own interests
through the Participants, to take any action that a Holder is entitled to take under this Agreement or the Warrants; provided,
however, that at all times that Warrants are evidenced by a Global Certificate, exercise of those Warrants shall be effected on
their behalf by Participants through DTC in accordance the procedures administered by DTC.

 

3. Terms and Exercise of Warrants.

 

3.1. Exercise Price.
Each Warrant shall entitle the Holder, subject to the provisions of the applicable Warrant Certificate and of this Warrant Agreement,
to purchase from the Company the number of shares of Common Stock stated therein, at the price of $1.50 per whole share, subject to the
subsequent adjustments provided by Section 3 of the Warrant Certificates. The term “Exercise Price” as used in this
Warrant Agreement refers to the price per share at which shares of Common Stock may be purchased at the time a Warrant is exercised.

 

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3.2. Duration of Warrants.
The Warrants may be exercised only during the period (“Exercise Period”) commencing on the Issuance Date and terminating
at 5:00 P.M., Eastern Standard Time (the “close of business”) on January 19, 2027 (“Expiration Date”).
Each Warrant not exercised on or before their respective Expiration Date shall become void, and all rights thereunder and all rights in
respect thereof under this Warrant Agreement shall cease at the close of business on the respective Expiration Date.

 

3.3. Exercise of Warrants.

 

3.3.1. Exercise and Payment.
(a) Subject to the provisions of this Warrant Agreement, a Holder (or a Participant or a designee of a Participant acting on behalf of
a Holder) may exercise Warrants by delivering to the Warrant Agent, a duly executed facsimile copy or PDF copy submitted by e-mail (or
e-mail attachment) of the Notice of Exercise in the form annexed to the Warrant Certificate. In the case of the Holder of a Global Certificate,
the Holder shall deliver the executed Notice of Exercise and payment of the Exercise Price pursuant to Section 2(a) and Section 2(b) of
the Warrant Certificates (other than in the case of a Cashless Exercise). Notwithstanding any other provision in this Agreement, a holder
whose interest in a Global Warrant is a beneficial interest in a Global Certificate held in book-entry form through the DTC (or another
established clearing corporation performing similar functions), shall effect exercises by delivering to the DTC (or such other clearing
corporation, as applicable) the appropriate instruction form for exercise, complying with the procedures to effect exercise that are required
by the DTC (or such other clearing corporation, as applicable). The Company acknowledges that the bank accounts maintained by the Warrant
Agent in connection with the services provided under this Agreement will be in its name and that the Warrant Agent may receive investment
earnings in connection with the investment at Warrant Agent risk and for its benefit of funds held in those accounts from time to time.
Neither the Company nor the Holders will receive interest on any deposits or Exercise Price. The “Exercise Date” will
be the date on which the materials in the foregoing sentence are received by the Warrant Agent (if by 5:00 P.M., New York City time),
or the following Trading Day (if after 5:00 P.M., New York City time), regardless of any earlier date written on the materials. If the
materials discussed in this Section 3.3.1 are received or deemed to be received after the Expiration Date, the exercise thereof will be
null and void and any funds delivered to the Company will be returned to the Holder or Participant, as the case may be, as soon as practicable.
In no event will interest accrue on any funds deposited with the Company in respect of an exercise or attempted exercise of the Warrants.

 

3.3.2. Issuance of Warrant Shares.

 

(a) The Warrant
Agent shall, by 11:00 a.m., New York City time, on the Trading Day following the date of exercise of any Warrant, advise the Company,
the transfer agent and registrar for the Company’s Common Stock, in respect of (i) the number of Warrant Shares indicated on the
Notice of Exercise as issuable upon such exercise with respect to such exercised Warrants, (ii) the instructions of the Holder or Participant,
as the case may be, provided to the Warrant Agent with respect to the delivery of the Warrant Shares and the number of Warrants that remain
outstanding after such exercise and (iii) such other information as the Company or such transfer agent and registrar shall reasonably
request.

 

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(b) Upon the Warrant
Agent’s receipt, at or prior to the Close of Business on the Termination Date set forth in a Warrant Certificate, of the executed
Notice of Exercise, accompanied by payment of the Exercise Price pursuant to Section 2(b) of the Warrant Certificate (other than in the
case of a Cashless Exercise), the Warrant Agent shall cause the Warrant Shares underlying such Warrant to be delivered to or upon the
order of the Holder of such Warrant, registered in such name or names as may be designated by such Holder, no later than the Warrant Share
Delivery Date. If the Company is then a participant in the DWAC system of the Depositary and either (A) there is an effective registration
statement permitting the issuance of the Warrant Shares to or resale of the Warrant Shares by Holder or (B) the Warrant is being exercised
via Cashless Exercise, then the certificates for Warrant Shares shall be transmitted by the Warrant Agent to the Holder

 

3.3.3. Valid Issuance.
All Warrant Shares issued by the Company upon the proper exercise of a Warrant in conformity with this Warrant Agreement shall be validly
issued, fully paid and non-assessable.

 

3.3.4. No Fractional Shares
or Scrip. No fractional Warrant Shares or scrip representing fractional shares shall be issued upon the exercise of the Warrant. As
to any fraction of a share which the Holder would otherwise be entitled to purchase upon such exercise, the Company shall, at its election,
either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the Exercise Price or
round up to the next whole share.

 

3.3.5. Charges, Taxes, and
Expenses. Issuance of Warrant Shares shall be made without charge to a Holder for any issue or transfer tax or other incidental expense
in respect of the issuance of such Warrant Shares, all of which taxes and expenses shall be paid by the Company, and such Warrant Shares
shall be issued in the name of a Holder or in such name or names as may be directed by a Holder; provided, however, that in the event
that Warrant Shares are to be issued in a name other than the name of a Holder, the Warrant, when surrendered for exercise, shall be accompanied
by the Assignment Form attached to the Warrant duly executed by the Holder and the Company may require, as a condition thereto, the payment
of a sum sufficient to reimburse it for any transfer tax incidental thereto. The Company shall pay all Transfer Agent fees required for
same-day processing of any Notice of Exercise and all fees to DTC (or another established clearing corporation performing similar functions)
required for same-day electronic delivery of the Warrant Shares.

 

3.3.6. Date of Issuance.
The Company will treat an exercising Holder as a beneficial owner of the Warrant Shares as of the date of exercise of any Warrant, except
that, if such date of exercise is a date when the stock transfer books of the Company are closed, such person shall be deemed to have
become the holder of such shares at the open of business on the next succeeding date on which the stock transfer books are open.

 

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3.3.7. Cashless Exercise
Under Certain Circumstances. The Company shall provide to the Warrant Agent and each Holder prompt written notice of any time that
there is no effective registration statement covering the Warrants and the Warrant Shares thereunder. Subject to Section 2(c) of the Warrant,
a Holder may be entitled to cashless exercise of the Warrant. Upon receipt of a Notice of Exercise for a cashless exercise in accordance
with Section 2(c) of the Warrant, the Warrant Agent will promptly deliver a copy of the Notice of Exercise to the Company to confirm the
number of Warrant Shares issuable in connection with the cashless exercise. The Company shall promptly calculate and transmit to the Warrant
Agent in a written notice, and the Warrant Agent shall have no duty, responsibility or obligation under this section to calculate, the
number of Warrant Shares issuable in connection with any cashless exercise. The Warrant Agent shall be entitled to rely conclusively on
any such written notice provided by the Company, and the Warrant Agent shall not be liable for any action taken, suffered or omitted to
be taken by it in accordance with such written instructions or pursuant to this Warrant Agreement.

 

3.3.8. Disputes. In the
case of a dispute as to the determination of the Exercise Price or the arithmetic calculation of the number of Warrant Shares issuable
in connection with any exercise, the Company shall promptly deliver to the Holder the number of Warrant Shares that are not disputed.

 

3.3.9. Beneficial Ownership
Limitation. A Holder shall not have the right to exercise any Warrants to the extent that after giving effect to the issuance of Warrant
Shares after exercise as set forth on the applicable Notice of Exercise, such Holder or a person holding through such Holder, and any
other persons acting as a group together with that Holder or person or any of that Holder’s or person’s Affiliates), would
beneficially own in excess of the Beneficial Ownership Limitation (as that term is defined in the Warrant) pursuant to Section 2(e) of
the Warrant Certificates.

 

4. Adjustments. The
Exercise Price, the number of shares covered by each Warrant and the number of Warrants outstanding are subject to adjustment from time
to time as provided in Section 3 of the Warrant Certificate. All Warrants originally issued by the Company subsequent to any adjustment
made to the Exercise Price pursuant to the Warrant shall evidence the right to purchase, at the adjusted Exercise Price, the number of
shares of Common Stock purchasable from time to time hereunder upon exercise of the Warrants, all subject to further adjustment as provided
herein. Whenever the Exercise Price or the number of shares of Common Stock issuable upon the exercise of each Warrant is adjusted as
provided in this Section 4, the Company shall (a) promptly prepare a certificate setting forth the Exercise Price of each Warrant as so
adjusted, and a brief statement of the facts accounting for such adjustment, (b) promptly file with the Warrant Agent and with each transfer
agent for the Common Stock a copy of such certificate and (c) instruct the Warrant Agent to send a brief summary thereof to each Holder
of a Warrant.

 

5. Restrictive Legends;
Fractional Warrants. In the event that a Warrant Certificate surrendered for transfer bears a restrictive legend, the Warrant Agent
shall not register that transfer until the Warrant Agent has received an opinion of counsel for the Company in form and substance reasonably
satisfactory to the Warrant Agent stating that such transfer may be made and indicating whether the Warrants must also bear a restrictive
legend upon that transfer. The Company shall not issue fractions of Warrants or distribute a Global Warrant or Warrant Certificates that
evidence fractional Warrants. Whenever any fractional Warrant would otherwise be required to be issued or distributed, the actual issuance
or distribution shall reflect a rounding of such fraction either up or down to the nearest whole Warrant. The Warrant Agent shall not
be required to effect any registration of transfer or exchange which will result in the transfer of or delivery of a Warrant Certificate
for a fraction of a Warrant. The Company shall not issue fractions of shares of Common Stock upon exercise of Warrants or distribute stock
certificates that evidence fractional shares of Common Stock. Whenever any fraction of a share of Common Stock would otherwise be required
to be issued or distributed, the actual issuance or distribution in respect thereof shall be made in accordance with Section 2(d)(v) of
the Warrant Certificates.

 

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6. Other Provisions Relating
to Rights of Holders of Warrants.

 

6.1. No Rights as Stockholder.
Except as otherwise specifically provided herein and in accordance with Section 5(a) of the Warrant Certificates, a Holder, solely in
its capacity as a holder of Warrants, shall not be entitled to vote or receive dividends or be deemed the holder of share capital of the
Company for any purpose, nor shall anything contained in this Warrant Agreement be construed to confer upon a Holder, solely in its capacity
as the registered holder of Warrants, any of the rights of a stockholder of the Company or any right to vote, give or withhold consent
to any corporate action (whether any reorganization, issue of stock, reclassification of share capital, consolidation, merger, conveyance
or otherwise), receive notice of meetings, receive dividends or subscription rights or rights to participate in new issues of shares,
or otherwise, prior to the issuance to the Holder of the Warrant Shares which it is then entitled to receive upon the due exercise of
Warrants.

 

6.2. Reservation of Common
Stock. The Company shall at all times reserve and keep available a number of its authorized but unissued shares of Common Stock pursuant
to Section 5(d) of the Warrant Certificates.

 

7. Concerning the Warrant
Agent and Other Matters.

 

7.1. Any instructions given
to the Warrant Agent orally, as permitted by any provision of this Warrant Agreement, shall be confirmed in writing by the Company as
soon as practicable. The Warrant Agent shall not be liable or responsible and shall be fully authorized and protected for acting, or failing
to act, in accordance with any oral instructions which do not conform with the written confirmation received in accordance with this Section
7.1.

 

7.2. (a) Whether or not any
Warrants are exercised, for the Warrant Agent’s services as agent for the Company hereunder, the Company shall pay to the Warrant
Agent such fees as may be separately agreed between the Company and Warrant Agent and the Warrant Agent’s out of pocket expenses
in connection with this Warrant Agreement, including, without limitation, the reasonable fees and expenses of the Warrant Agent’s
counsel. While the Warrant Agent endeavors to maintain out-of-pocket charges (both internal and external) at competitive rates, these
charges may not reflect actual out-of-pocket costs, and may include handling charges to cover internal processing and use of the Warrant
Agent’s billing systems.

 

(b) All amounts owed by the
Company to the Warrant Agent under this Warrant Agreement are due within 30 days of the invoice date. Delinquent payments are subject
to a late payment charge of one and one-half percent (1.5%) per month commencing 45 days from the invoice date. The Company agrees to
reimburse the Warrant Agent for any reasonable attorney’s fees and any other costs associated with collecting delinquent payments.
(c) No provision of this Warrant Agreement shall require Warrant Agent to expend or risk its own funds or otherwise incur any financial
liability in the performance of any of its duties under this Warrant Agreement or in the exercise of its rights.

 

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7.3. As agent for the Company
hereunder the Warrant Agent: (a) shall have no duties or obligations other than those specifically set forth herein or as may subsequently
be agreed to in writing by the Warrant Agent and the Company; (b) shall be regarded as making no representations and having no responsibilities
as to the validity, sufficiency, value, or genuineness of the Warrants or any Warrant Shares; (c) shall not be obligated to take any legal
action hereunder; if, however, the Warrant Agent determines to take any legal action hereunder, and where the taking of such action might,
in its judgment, subject or expose it to any expense or liability it shall not be required to act unless it has been furnished with an
indemnity reasonably satisfactory to it; (e) may rely on and shall be fully authorized and protected in acting or failing to act upon
any certificate, instrument, opinion, notice, letter, telegram, telex, facsimile transmission or other document or security delivered
to the Warrant Agent and believed by it to be genuine and to have been signed by the proper party or parties; (f) shall not be liable
or responsible for any recital or statement contained in the Registration Statement or any other documents relating thereto; (g) shall
not be liable or responsible for any failure on the part of the Company to comply with any of its covenants and obligations relating to
the Warrants, including without limitation obligations under applicable securities laws; (h) may rely on and shall be fully authorized
and protected in acting or failing to act upon the written, telephonic or oral instructions with respect to any matter relating to its
duties as Warrant Agent covered by this Warrant Agreement (or supplementing or qualifying any such actions) of officers of the Company,
and is hereby authorized and directed to accept instructions with respect to the performance of its duties hereunder from the Company
or counsel to the Company, and may apply to the Company, for advice or instructions in connection with the Warrant Agent’s duties
hereunder, and the Warrant Agent shall not be liable for any delay in acting while waiting for those instructions; any applications by
the Warrant Agent for written instructions from the Company may, at the option of the Agent, set forth in writing any action proposed
to be taken or omitted by the Warrant Agent under this Warrant Agreement and the date on or after which such action shall be taken or
such omission shall be effective; the Warrant Agent shall not be liable for any action taken by, or omission of, the Warrant Agent in
accordance with a proposal included in such application on or after the date specified in such application (which date shall not be less
than five (5) Business Days after the date such application is sent to the Company, unless the Company shall have consented in writing
to any earlier date) unless prior to taking any such action, the Warrant Agent shall have received written instructions in response to
such application specifying the action to be taken or omitted; (i) may consult with counsel satisfactory to the Warrant Agent, including
its in-house counsel, and the advice of such counsel shall be full and complete authorization and protection in respect of any action
taken, suffered, or omitted by it hereunder in good faith and in accordance with the advice of such counsel; (j) may perform any of its
duties hereunder either directly or by or through nominees, correspondents, designees, or subagents, and it shall not be liable or responsible
for any misconduct or negligence on the part of any nominee, correspondent, designee, or subagent appointed with reasonable care by it
in connection with this Warrant Agreement; (k) is not authorized, and shall have no obligation, to pay any brokers, dealers, or soliciting
fees to any person; and (l) shall not be required hereunder to comply with the laws or regulations of any country other than the United
States of America or any political subdivision thereof.

 

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7.4. (a) In the absence of
gross negligence or willful or illegal misconduct on its part (as determined by a court of competent jurisdiction in a final and non-appealable
judgment), the Warrant Agent shall not be liable for any action taken, suffered, or omitted by it or for any error of judgment made by
it in the performance of its duties under this Warrant Agreement. Anything in this Warrant Agreement to the contrary notwithstanding,
in no event shall Warrant Agent be liable for special, indirect, incidental, consequential or punitive losses or damages of any kind whatsoever
(including but not limited to lost profits), even if the Warrant Agent has been advised of the possibility of such losses or damages and
regardless of the form of action. Any liability of the Warrant Agent will be limited in the aggregate to the amount of fees paid by the
Company hereunder. The Warrant Agent shall not be liable for any failures, delays or losses, arising directly or indirectly out of conditions
beyond its reasonable control including, but not limited to, acts of government, exchange or market ruling, suspension of trading, work
stoppages or labor disputes, fires, civil disobedience, riots, rebellions, storms, electrical or mechanical failure, computer hardware
or software failure, communications facilities failures including telephone failure, war, terrorism, insurrection, earthquakes, floods,
acts of God or similar occurrences. (b) In the event any question or dispute arises with respect to the proper interpretation of the Warrants
or the Warrant Agent’s duties under this Warrant Agreement or the rights of the Company or of any Holder, the Warrant Agent shall
not be required to act and shall not be held liable or responsible for its refusal to act until the question or dispute has been judicially
settled (and, if appropriate, it may file a suit in interpleader or for a declaratory judgment for such purpose) by final judgment rendered
by a court of competent jurisdiction, binding on all persons interested in the matter which is no longer subject to review or appeal,
or settled by a written document in form and substance satisfactory to Warrant Agent and executed by the Company and each such Holder.
In addition, the Warrant Agent may require for such purpose, but shall not be obligated to require, the execution of such written settlement
by all the Holders and all other persons that may have an interest in the settlement. 

 

7.5. The Company covenants
to indemnify the Warrant Agent and hold it, its employees and officers harmless from and against any loss, liability, claim or expense
(“Loss”) arising out of or in connection with the Warrant Agent’s duties under this Warrant Agreement, including
the costs and expenses of defending itself against any Loss, unless such Loss shall have been determined by a court of competent jurisdiction
to be a result of the Warrant Agent’s gross negligence or willful misconduct.

 

7.6. Unless terminated earlier
by the parties hereto, this Agreement shall terminate 90 days after the earlier of the Expiration Date and the date on which no Warrants
remain outstanding (the “Termination Date”). On the Business Day following the Termination Date, the Agent shall deliver
to the Company any entitlements, if any, held by the Warrant Agent under this Warrant Agreement. The Agent’s right to be reimbursed
for fees, charges and out-of-pocket expenses as provided in this Section 7 shall survive the termination of this Warrant Agreement.

 

7.7. If any provision of this
Warrant Agreement shall be held illegal, invalid, or unenforceable by any court, this Warrant Agreement shall be construed and enforced
as if such provision had not been contained herein and shall be deemed an Agreement among the parties to it to the full extent permitted
by applicable law.

 

    10 

     

    

 

7.8. The Company represents
and warrants that: (a) it is duly incorporated and validly existing under the laws of its jurisdiction of incorporation; (b) the offer
and sale of the Warrants and the execution, delivery and performance of all transactions contemplated thereby (including this Warrant
Agreement) have been duly authorized by all necessary corporate action and will not result in a breach of or constitute a default under
the articles of association, bylaws or any similar document of the Company or any indenture, agreement or instrument to which it is a
party or is bound; (c) this Warrant Agreement has been duly executed and delivered by the Company and constitutes the legal, valid, binding
and enforceable obligation of the Company; (d) the Warrants will comply in all material respects with all applicable requirements of law;
and (e) to the best of its knowledge, there is no litigation pending or threatened as of the date hereof in connection with the offering
of the Warrants.

 

7.9. In the event of inconsistency
between this Warrant Agreement and the descriptions in the Registration Statement, as they may from time to time be amended, the terms
of this Warrant Agreement shall control.

 

7.10. Set forth in Exhibit
B hereto is a list of the names and specimen signatures of the persons authorized to act for the Company under this Warrant Agreement
(the “Authorized Representatives”). The Company shall, from time to time, certify to you the names and signatures of
any other persons authorized to act for the Company under this Warrant Agreement.

 

7.11. Except as expressly
set forth elsewhere in this Warrant Agreement, all notices, instructions and communications under this Agreement shall be in writing,
shall be effective upon receipt and shall be addressed, if to the Company, to its address set forth beneath its signature to this Agreement,
or, if to the Warrant Agent, to American Stock Transfer & Trust Company with a mailing address of 6201 15th Avenue, Brooklyn, NY 11219,
or to such other address of which a party hereto has notified the other party.

 

7.12. (a) This Warrant Agreement
shall be governed by and construed in accordance with the laws of the State of New York, without reference to its conflicts of law principles.
All actions and proceedings relating to or arising from, directly or indirectly, this Warrant Agreement may be litigated in courts located
within the Borough of Manhattan in the City and State of New York. The Company hereby submits to the personal jurisdiction of such courts
and consents that any service of process may be made by certified or registered mail, return receipt requested, directed to the Company
at its address last specified for notices hereunder. Each of the parties hereto hereby waives the right to a trial by jury in any action
or proceeding arising out of or relating to this Warrant Agreement. (b) This Warrant Agreement shall inure to the benefit of and be binding
upon the successors and assigns of the parties hereto. This Warrant Agreement may not be assigned, or otherwise transferred, in whole
or in part, by either party without the prior written consent of the other party, which the other party will not unreasonably withhold,
condition or delay; except that (i) consent is not required for an assignment or delegation of duties by Warrant Agent to any affiliate
of Warrant Agent and (ii) any reorganization, merger, consolidation, sale of assets or other form of business combination by Warrant Agent
or the Company shall not be deemed to constitute an assignment of this Warrant Agreement. (c) No provision of this Warrant Agreement may
be amended, modified or waived, except in a written document signed by both parties. The Company and the Warrant Agent may amend or supplement
this Warrant Agreement without the consent of any Holder for the purpose of curing any ambiguity, or curing, correcting or supplementing
any defective provision contained herein or adding or changing any other provisions with respect to matters or questions arising under
this Agreement as the parties may deem necessary or desirable and that the parties determine, in good faith, shall not adversely affect
the interest of the Holders. All other amendments and supplements shall require the vote or written consent of Holders of at least 50.1%
of the then outstanding Warrants, provided that adjustments may be made to the Warrant terms and rights in accordance with Section 4 without
the consent of the Holders.

 

    11 

     

    

 

7.13. Payment of Taxes.
The Company will from time to time promptly pay all taxes and charges that may be imposed upon the Company or the Warrant Agent in respect
of the issuance or delivery of Warrant Shares upon the exercise of Warrants, but the Company may, pursuant to the terms of the Warrant,
require the Holders to pay any transfer taxes in respect of the Warrants or such shares. The Warrant Agent may refrain from registering
any transfer of Warrants or any delivery of any Warrant Shares unless or until the persons requesting the registration or issuance shall
have paid to the Warrant Agent for the account of the Company the amount of such tax or charge, if any, or shall have established to the
reasonable satisfaction of the Company and the Warrant Agent that such tax or charge, if any, has been paid.

 

7.14. Resignation of Warrant
Agent.

 

7.14.1. Appointment of Successor
Warrant Agent. The Warrant Agent, or any successor to it hereafter appointed, may resign its duties and be discharged from all further
duties and liabilities hereunder after giving thirty (30) days’ notice in writing to the Company and the Holders of the Warrants,
or such shorter period of time agreed to by the Company. The Company may terminate the services of the Warrant Agent, or any successor
Warrant Agent, after giving thirty (30) days’ notice in writing to the Warrant Agent or successor Warrant Agent and the Holders
of the Warrants, or such shorter period of time as agreed. If the office of the Warrant Agent becomes vacant by resignation, termination
or incapacity to act or otherwise, the Company shall appoint in writing a successor Warrant Agent in place of the Warrant Agent. If the
Company shall fail to make such appointment within a period of 30 days after it has been notified in writing of such resignation or incapacity
by the Warrant Agent, then the Warrant Agent or any Holder may apply to any court of competent jurisdiction for the appointment of a successor
Warrant Agent at the Company’s cost. Pending appointment of a successor to such Warrant Agent, either by the Company or by such
a court, the duties of the Warrant Agent shall be carried out by the Company. Any successor Warrant Agent (but not including the initial
Warrant Agent), whether appointed by the Company or by such court, shall be a person organized and existing under the laws of any state
of the United States of America, in good standing, and authorized under such laws to exercise corporate trust powers and subject to supervision
or examination by federal or state authority. After appointment, any successor Warrant Agent shall be vested with all the authority, powers,
rights, immunities, duties, and obligations of its predecessor Warrant Agent with like effect as if originally named as Warrant Agent
hereunder, without any further act or deed, and except for executing and delivering documents as provided in the sentence that follows,
the predecessor Warrant Agent shall have no further duties, obligations, responsibilities or liabilities hereunder, but shall be entitled
to all rights that survive the termination of this Warrant Agreement and the resignation or removal of the Warrant Agent, including but
not limited to its right to indemnity hereunder. If for any reason it becomes necessary or appropriate or at the request of the Company,
the predecessor Warrant Agent shall execute and deliver, at the expense of the Company, an instrument transferring to such successor Warrant
Agent all the authority, powers, and rights of such predecessor Warrant Agent hereunder; and upon request of any successor Warrant Agent
the Company shall make, execute, acknowledge, and deliver any and all instruments in writing for more fully and effectually vesting in
and confirming to such successor Warrant Agent all such authority, powers, rights, immunities, duties, and obligations.

 

    12 

     

    

 

7.14.2. Notice of Successor
Warrant Agent. In the event a successor Warrant Agent shall be appointed, the Company shall give notice thereof to the predecessor
Warrant Agent and the transfer agent for the Common Stock not later than the effective date of any such appointment.

 

7.14.3. Merger or Consolidation
of Warrant Agent. Any person into which the Warrant Agent may be merged or converted or with which it may be consolidated or any person
resulting from any merger, conversion or consolidation to which the Warrant Agent shall be a party or any person succeeding to the shareowner
services business of the Warrant Agent or any successor Warrant Agent shall be the successor Warrant Agent under this Warrant Agreement,
without any further act or deed. For purposes of this Warrant Agreement, “person” shall mean any individual, firm, corporation,
partnership, limited liability company, joint venture, association, trust or other entity, and shall include any successor (by merger
or otherwise) thereof or thereto.

 

8. Miscellaneous Provisions.

 

8.1. Persons Having Rights
under this Warrant Agreement. Nothing in this Warrant Agreement expressed and nothing that may be implied from any of the provisions
hereof is intended, or shall be construed, to confer upon, or give to, any person or corporation other than the parties hereto and the
Holders any right, remedy, or claim under or by reason of this Warrant Agreement or of any covenant, condition, stipulation, promise,
or agreement hereof.

 

8.2. Examination of the
Warrant Agreement. A copy of this Warrant Agreement shall be available at all reasonable times at the office of the Warrant Agent
designated for such purpose for inspection by any Holder. Prior to such inspection, the Warrant Agent may require any such holder to provide
reasonable evidence of its interest in the Warrants.

 

8.3. Counterparts.
This Warrant Agreement may be executed in any number of original, facsimile or electronic counterparts and each of such counterparts shall
for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

 

8.4. Effect of Headings.
The Section headings herein are for convenience only and are not part of this Warrant Agreement and shall not affect the interpretation
thereof.

 

    13 

     

    

 

8.5. Conflict. To the
extent any provision of this Warrant Agreement conflicts with any provision contained in a Definitive Certificate, the provision in such
Definitive Certificate shall govern and be controlling.

 

9. Certain Definitions.
As used herein, the following terms shall have the following meanings:

 

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

 

(b) “Standard Settlement
Period” means the standard settlement period, expressed in a number of Trading Days, on the Company’s primary Trading
Market with respect to the Common Stock as in effect on the date of delivery of the Notice of Exercise.

 

(c) “Trading Day”
means any day on which the Common Stock is traded on the Trading Market.

 

(d) “Trading Market”
means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on the date in question: the
NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market or the New York Stock Exchange (or
any successors to any of the foregoing).

 

(e) “Warrant Share
Delivery Date” means the date that is the earliest of: (i) two (2) Trading Days after the delivery to the Company of the Notice
of Exercise, (ii) one (1) Trading Day after delivery of the aggregate Exercise Price to the Company and (iii) the number of Trading Days
comprising the Standard Settlement Period after the delivery to the Company of the Notice of Exercise, all subject to receipt of any cash
payments required by the Holder.

 

[Signature Page to Follow]

 

    14 

     

    

 

IN WITNESS WHEREOF, this Warrant
Agent Agreement has been duly executed by the parties hereto as of the day and year first above written.

 

	 	STAR EQUITY HOLDINGS, INC.
	 	 
	 	 	 
	 	By:	/s/ Jeffrey E. Eberwein
	 	Name:	Jeffrey E. Eberwein
	 	Title:	Executive Chairman

 

	 	AMERICAN STOCK TRANSFER & TRUST COMPANY. LLC
	 	 
	 	 	 
	 	By:	/s/ Michelle Legregin
	 	Name:	Michelle Legregin
	 	Title:	Senior Vice President

 

    15 

     

    

 

ANNEX A

 

WARRANT CERTIFICATE REQUEST NOTICE

 

To: American Stock Transfer & Trust
Company, LLC, as Warrant Agent for Star Equity Holdings, Inc. (the “Company”)

 

The undersigned Holder of Common Stock
Purchase Warrants (“Warrants”) in the form of Global Warrants issued by the Company hereby elects to receive a Definitive
Certificate evidencing the Warrants held by the Holder as specified below:

 

	 	1.	
    Name of Holder of Warrants in form of Global Warrants:

    ______________________________________________________________

	 	2.	Name of Holder in Definitive Certificate (if different from name of Holder of Warrants in form of Global Warrants): ________________________________
	 	3.	Number of Warrants in name of Holder in form of Global Warrants: ______________________________________________________________
	 	4.	Number of Warrants for which Definitive Certificate shall be issued: ______________________________________________________________
	 	5.	Number of Warrants in name of Holder in form of Global Warrants after issuance of Definitive Certificate, if any: ___________

 

	 	6.	Definitive Certificate shall be delivered to the following address:

 

	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

The undersigned hereby acknowledges
and agrees that, in connection with this Warrant Exchange and the issuance of the Definitive Certificate, the Holder is deemed to have
surrendered the number of Warrants in form of Global Warrants in the name of the Holder equal to the number of Warrants evidenced by the
Definitive Certificate.

 

[SIGNATURE
OF HOLDER]

 

    16 

     

    

 

	 	Name of Investing Entity:
	 	 
	 	____________________________________________________
	 	 
	 	Signature of Authorized Signatory of Investing Entity:
	 	 
	 	____________________________________________________
	 	 
	 	Name of Authorized Signatory:
	 	 
	 	____________________________________________________
	 	 
	 	Title of Authorized Signatory:
	 	 
	 	____________________________________________________
	 	 
	 	Date: ________________________________________________

 

    17 

     

    

 

EXHIBIT A

 

[FORM OF GLOBAL WARRANT CERTIFICATE]

 

UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE
& CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

 

	Certificate No.: 	CUSIP No.: [•]
	Number of Warrants: 	Issue Date: [•], 2022

 

(SEE ATTACHED WARRANT)

 

    18 

     

    

 

EXHIBIT B

 

AUTHORIZED REPRESENTATIVES

 

	Name	 	Title	 	Signature
	Jeffrey E. Eberwein	 	Executive Chairman	 	 
	David J. Noble	 	Chief Financial Officer	 	 

 

 

19Exhibit
10.1

 

STOCK
PURCHASE AGREEMENT

 

This
STOCK PURCHASE AGREEMENT (this “Agreement”) is made as of January 25, 2022 by and among DSS,
Inc., a New York Corporation, or its designated subsidiary (collectively, the “Seller”), and Alset EHome International,
Inc. and its subsidiaries (collectively, the “Buyer”).

 

RECITALS

 

WHEREAS,
Seller and Buyer are executing and delivering this Agreement in reliance upon the exemption from securities registration afforded by
Section 4(a)(2) of the Securities Actof 1933, as amended (the “Securities Act”), and Rule 506(b) of Regulation
D (“Regulation D”)as promulgated under the Securities Act;

 

WHEREAS,
the Seller wishes to sell up to 44,619,423 shares (the “DSS Shares”) of its common stock, par value $0.02 per share
(“DSS Common Stock”), at a purchase price equal to $0.3810 per share (the “DSS Common Stock”),
upon the terms and conditions set forth in this Agreement.

 

WHEREAS,
the Buyer wishes to purchase up to 44,619,423 DSS Shares upon the terms and conditions set forth in this Agreement.

 

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

 

1.
SALE AND PURHCASE OF SHARES.

 

1.1
SALE. On the terms and subject to the conditions set forth in this Agreement, at the Closing Seller will sell, convey, transfer and
assign to Buyer, free and clear of all liens, pledges, encumbrances, changes, restrictions or known claims of any kind, nature or description,
and Buyer will purchase and accept from Seller, up to 44,619,423 DSS Shares

 

1.2
PURCHASE. In consideration therefor, Buyer will convey, transfer and assign to Seller, and Seller will accept from Buyer, up to $17,000,000
(such purchase and sale referred to as the “Purchase”).

 

2.
REPRESENTATIONS AND WARRANTIES.

 

2.1
REPRESENTATIONS AND WARRANTIES BY THE SELLER. The Seller represents and warrants to Buyer as follows as of the date hereof:

 

(a)
Organization and Good Standing. Seller is duly organized, validly existing and in good standing under the laws of its jurisdiction
of incorporation or organization, as the case may be.

 

    	1

     

    

 

(b)
Requisite Power and Authority. Seller has all necessary power and authority to execute and deliver this Agreement and the other
agreements and instruments entered into or delivered by any of the parties hereto in connection with the transactions contemplated hereby
and thereby (the “Transaction Documents”) and to carry out their provisions. All action on Seller’s part
required for the execution and delivery of this Agreementand the other Transaction Documents has been taken. Upon its execution and delivery,
this Agreement and the other Transaction Documents will be valid and binding obligations of Seller, enforceable in accordance with their
respective terms, except (a) as limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws of general application
affecting enforcement of creditors’ rights, and (b) as limited by general principles of equity that restrict the availability of
equitable remedies.

 

(c)
No Violations. The execution and delivery of the Transaction Documents, and the consummation by the Seller of the transactions
contemplated thereby, does not (i) result in a violation of either the Certificate of Incorporation or By-laws of the Seller, or (ii)
constitute a default under (or an event which with notice or lapse of time or both could become a default) or give to others any rights
of termination, amendment or cancellation of, any material agreement, indenture or instrument to which the Seller is a party unless the
same shall have been waived or consented to by the other party, or result in a violation of any law, rule, regulation, order, judgment
or decree (foreign or domestic and including federal and state securities laws and regulations) applicable to the Company or by which
any material property or asset of the Seller is bound or affected other than any of the foregoing which would not have a Material Adverse
Effect.

 

(d)
Good Title. The DSS Shares issued by Seller shall be free and clear of any lien, encumbrance, adverse claim, restriction on sale,
transfer or voting (other than restrictions imposed by applicable securities laws), preemptive right, option or other right to purchase,
and upon the consummation of the sale of such DSS Shares as contemplated hereby, Buyer will have good title to such DSS Shares, free
and clear of any lien, encumbrance, adverse claim, restriction on sale, transfer or voting (other than restrictions imposed by applicable
securities laws), preemptive right, option or other right to purchase.

 

(e)
Issuance of the Securities. The Securities are duly authorized and, when issued and paid for in accordance with the applicable
Transaction Documents, will be duly and validly issued, fully paid and nonassessable, free and clear of all Liens imposed by the Company
other than restriction. Seller has reserved from its duly authorized capital stock the maximum number of shares of Common Stock issuable
pursuant to this Agreement.

 

2.2
REPRESENTATIONS AND WARRANTIES BY BUYER. Buyer represents and warrants to the Seller, as of the date hereof, as follows:

 

(a)
Organization and Good Standing. Buyer is duly organized, validly existing and in good standing under the laws of its jurisdiction
of incorporation or organization, as the case may be.

 

(b)
Requisite Power and Authority. Buyer has all necessary power and authority to execute and deliver this Agreement and the other
Transaction Documents and to carryout their provisions. All action on Buyer’s part required for the execution and delivery of this
Agreement and the other Transaction Documents has been taken. Upon its execution and delivery, this Agreement and the other Transaction
Documents will be valid and binding obligations of Buyer, enforceable in accordance with their respective terms, except (a) as limited
by applicable bankruptcy, insolvency, reorganization, moratorium or other laws of general application affecting enforcement of creditors’
rights, and (b) as limited by general principles of equity that restrict the availability of equitable remedies.

 

    	2

     

    

 

(c)
Issuance of DSS Shares. The DSS Shares have been duly authorized and, upon issuance in accordance with the terms hereof, shall
be validly issued and free from all taxes, liens and charges with respect to the issue thereof, and the DSS Shares shall be fully paid
and non- assessable with the holder being entitled to all rights accorded to a holder of DSS Common Stock.

 

(d)
No Reliance. Buyer has not relied on and is not relying on any representations, warranties or other assurances regarding The Company
and other than the representations and warranties expressly set forth in this Agreement.

 

2.3
SURVIVAL OF REPRESENTATIONS AND WARRANTIES. The representations and warranties shall survive the Closing for a period of 12 months
and shall be fully enforceable at law or in equity against the parties and each party’s successors and assigns.

 

3.
CLOSING.

 

3.1
Conditions to Seller’s Obligations. The obligations of Seller under this Agreement, shall be subject to satisfaction of the
following conditions, unless waived by Seller: (i) Buyer shall have performed in all material respects all agreements, and satisfied
in all material respects all conditions on its part to be performed or satisfied hereunder, at or prior to the Closing; (ii) all of the
representations and warranties of Buyer herein shall have been true and correct in all respects when made, shall have continued to have
been true and correct in all respects at all times subsequent thereto, and shall be true and correct in all material respects on and
as of the Closing as though made on, as of, and with reference to such Closing; (iii) Buyer shall have executed and delivered to Seller
all documents necessary to issue the DSS Shares to Seller, as contemplated by this Agreement; (iv) Buyer shall have obtained or made,
as applicable, all consents, authorizations and approvals from, and all declarations, filings and registrations required to consummate
the transactions contemplated by this Agreement, including all items required under the incorporation document and bylaws of Buyer; (v)
Buyer shall have received authorization from the New York Stock Exchange (the “NYSE”) for the issuance of the DSS Shares;
and (vi) the Board of Directors and/or Shareholders of Buyer shall have approved this Agreement, and the consummation of the transactions
contemplated hereby, including the issuance of the DSS Shares, as and to the extent required by applicable laws, the rules and regulations
of the NYSE or by the provisions of any governing instruments.

 

3.2
Conditions to Buyer’s Obligations. The obligations of Buyer under this Agreement, shall be subject to satisfaction of the following
conditions, unless waived by Buyer: (i) Seller shall have performed in all respects all agreements, and satisfied in all respects all
conditions on their part to be performed or satisfied hereunder, at or prior to the Closing; (ii) all of the representations and warranties
of Seller herein shall have been true and correct in all material respects when made, shall have continued to have been true and correct
in all material respects at all times subsequent thereto, and shall be true and correct in all material respects on and as of the Closing
as though made on, as of, and with reference to such Closing; (iii) Seller shall have executed and delivered to Buyer all documents necessary
issue the DSS Shares to Buyer, as contemplated by this Agreement; and (iv) Seller shall have obtained or made, as applicable, all consents,
authorizations and approvals from, and all declarations, filings and registrations required to consummate the transactions contemplated
by this Agreement, including all items required under the incorporation document and bylaws of Seller.

 

    	3

     

    

 

3.3
Closing Documents. At the Closing

 

(a)
Seller shall deliver to Buyer, in form and substance reasonably satisfactory to Buyer (i) a duly executed copy of this Agreement, together
with any other Transaction Documents (ii) certificates evidencing the DSS Shares, together with stock powers duly for such certificates
to allow such certificates to be registered in the name of Buyer, or evidence of such book-entry transfer of the DSS Shares to Buyer;
(iii) copies of resolutions adopted by the board of directors of Seller and certified by the Secretary of Seller authorizing the execution
and delivery of, and performance of Seller’s obligations under, this Agreement.

 

(b)
Buyer shall deliver to Seller, in form and substance reasonably satisfactory to Seller (i) a duly executed copy of this Agreement, together
with any other Transaction Documents (ii) the Purchase price; (ii) copies of resolutions adopted by the board of directors of Buyer and
certified by the Secretary of Buyer authorizing the execution and delivery of, and performance of Buyer’s obligations under, this
Agreement

 

4.
MISCELLANEOUS.

 

4.1
ADDRESSES AND NOTICES. Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall
be in writing and shall be deemed given and effective on the earliest of (a) the date of transmission, if such notice or communication
is delivered via e-mail transmission prior to 5:00 P.M., New York City time, on a trading day, (b) the next trading day after the date
of transmission, if such notice or communication is delivered via e-mail transmission on a day that is not a trading day or later than
5:00 P.M., New York City time, on any trading day, (c) the trading day following the date of mailing, if sent by U.S. nationally recognized
overnight courier service with next day delivery specified, or (d) upon actual receipt by the party to whom such notice is required to
be given. The address and e-mail address for such notices and communications shall be as follows:

 

	 	If
    to Seller to:	DSS,
    Inc.

    6
    Framark Drive

    Victor,
    New York 14564

    Attention:
    Frank D. Heuszel

    Telephone:
    (585) 325-3610

    Email:
    frank.heuszel@dssworld.com

 

    	4

     

    

 

	 	

    If
    to Buyer:
	

    Alset
    EHome International Inc.

    4800
    Montgomery Lane, Suite 210

    Bethesda,
    Maryland 20814 

    Attention:
    Michael Gershon

    Telephone:
    (301) 971-3940

    Email:
    michael@alsetinternational.com

	 	 	 
	 	With
    copies to:	Sichenzia
    Ross Ference LLP

    1185
    Avenue of the Americas, 31st Floor

    New
    York, New York 10036

    Attention:
    Darrin M. Ocasio

    Facsimile
    No.: (212) 930-9725

    Sichenzia
    Email: DMOcasio@SRF.LAW

 

Any
such person may by notice given in accordance with this Section 4.1 to the other parties hereto designate another address or person
for receipt by such person of notices hereunder.

 

4.2
TITLES AND CAPTIONS. TITLES AND CAPTIONS. All Article and Section titles or captions in this Agreement are for convenience only.
They shall not be deemed part of this Agreement and do not in any way define, limit, extend or describe the scope or intent of any provisions
hereof.

 

4.3
ASSIGNABILITY. This Agreement is not transferable or assignable by the undersigned.

 

4.4
PRONO UNS AND PLURALS. Whenever the context may require, any pronoun used herein shall include the corresponding masculine, feminine
or neuter forms. The singular form of nouns, pronouns and verbs shall include the plural and vice versa.

 

4.5
FURTHER ACTION. The parties shall execute and deliver all documents, provide all information and take or forbear from taking all
such action as may be necessary or appropriate to achieve the purposes of this Agreement. Each party shall bear its own expenses in connection
therewith.

 

4.6
APPLICABLE LAW. This Agreement shall be construed in accordance with and governed by the laws of the State of New York without regard
to its conflict of law rules.

 

4.7
BINDING EFFECT. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, administrators,
successors, legal representatives, personal representatives, permitted transferees and permitted assigns. If the undersigned is more
than one person, the obligation of the undersigned shall be joint and several and the agreements, representations, warranties and acknowledgments
herein contained shall bedeemed to be made by and be binding upon each such person and such person’s heirs, executors,administrators
and successors.

 

    	5

     

    

 

4.8
INTEGRATION. This Agreement constitutes the entire agreement amongthe parties pertaining to the subject matter hereof and supersedes
and replaces all prior and contemporaneous agreements and understandings, whether written or oral, pertaining thereto, including without
limitation, the Prior Agreement. No covenant, representation or condition not expressed in this Agreement shall affect or be deemed to
interpret, change or restrict the express provisions hereof.

 

4.9
AMENDMENT. Neither this Agreement nor any term or provision hereof may be amended, modified, waived or supplemented orally, but only
by a written consent executed by the parties hereto.

 

4.10
CREDITORS. None of the provisions of this Agreement shall be for the benefit of or enforceable by creditors of any party

 

4.11
WAIVER. No failure by any party to insist upon the strict performance of any covenant, agreement, term or condition of this Agreement
or to exercise any right or remedy available upon a breach thereof shall constitute a waiver of any such breach or of such or any other
covenant, agreement, term or condition.

 

4.12
RIGHTS AND REMEDIES. The rights and remedies of each of the parties hereunder shall be mutually exclusive, and the implementation
of one or more of the provisions of this Agreement shall not preclude the implementation of any other provision.

 

4.13
COUNTERPARTS. This Agreement may be executed in one or more counterparts, each of which will be deemed to be an original copy of
this Agreement and all of which, when taken together, will be deemed to constitute one and the same agreement. In the event that any
signature is delivered by facsimile transmission or by e-mail delivery of a “.pdf” format data file, such signature shall
create a valid and binding obligation of the party executing(or on whose behalf such signature is executed) with the same force and effect
as if such facsimile or “.pdf” signature page were an original thereof.

 

SIGNATURES
ON THE FOLLOWING PAGES

 

    	6

     

    

 

 

IN
WITNESS WHEREOF, the parties have caused this Agreement to be duly executed by their respective representatives hereunto authorized as
of the day and year first above written.

 

	 	By
  Buyer:
	 	 
	 	ALSET
  EHOME INTERNATIONAL INC.
	 	 	 
	 	By:	 
	 	Name:	Heng
  Fai Ambrose Chan
	 	Title:	Chairman
  and Chief Executive Officer

 

	 	By
    Seller:
	 	 
	 	DSS,
    INC.
	 	 	 
	 	By:	 
	 	Name:	Frank
    D. Heuszel
	 	Title:	Chief
    Executive Officer

 

    	7

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