Document:

Exhibit

Exhibit 10.2

KAMAN INDUSTRIAL TECHNOLOGIES CORPORATION 
CHANGE IN CONTROL AGREEMENT

THIS AGREEMENT is made on June 25, 2019 (the “Signing Date”) by and between Kaman Industrial Technologies Corporation, a Connecticut corporation (the “Company”) and Alphonse J. Lariviere, Jr. (the “Executive”).
Statement of Purpose
The Executive is President of the Company and an Executive Vice President of Kaman Corporation, the parent corporation of the Company (the “Parent”).  The Executive previously entered into a Change in Control Agreement with the Parent dated November 14, 2017 (the “Parent CIC Agreement”).  The Parent has entered into a Share Purchase Agreement with LJ KAI Blocker, Inc., LJ KFP Blocker, Inc., and LJ KIT Blocker, Inc., dated June 25, 2019 (the “Sale Agreement”) for the sale of the Company. Upon consummation of the transactions contemplated by Sale Agreement (including, without limitation, the Pre-Closing Reorganization described in Section 1.6 of the Sale Agreement) (the “Closing”), the Executive’s position with the Parent shall terminate but Executive shall remain employed by the Company as its President.  Accordingly, this Agreement supersedes and replaces in its entirety the Parent CIC Agreement immediately upon the Closing.  If the transactions contemplated by the Sale Agreement are not consummated, this Agreement shall be void ab initio and the Parent CIC Agreement shall remain in effect.  
NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, the Company and the Executive hereby agree as follows:
1.Defined Terms. Definitions of capitalized terms used in this Agreement are provided in the last Section of this Agreement.
2.    Term. This Agreement shall become effective upon the date of the Closing and terminate on the first anniversary of the date of the Closing. The term of this Agreement, as set forth under this Section 2, is herein referred to as the “Term.”
3.    Covenants Summarized. In order to induce the Executive to remain in the employ of the Company following the Closing and in consideration of the Executive’s continued employment, the Company agrees, under the conditions described herein, to pay the Executive the Severance Payments and the other payments and benefits described in this Agreement. Except as provided in Section 5.1 of this Agreement, no Severance Payments (as defined in Section 5) shall be payable under this Agreement unless there shall have been a termination of the Executive’s employment with the Company during the Term. This Agreement shall not be construed as creating an express or implied contract of employment and, except as otherwise agreed in writing between the Executive and the Company, the Executive shall not have any right to be retained in the employ of the Company.
4.    Compensation Other Than Severance Payments.

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4.1    If the Executive’s employment is terminated for any reason during the Term, the Company shall pay the Executive’s full salary to the Executive through the Date of Termination at the rate in effect immediately prior to the Date of Termination or, if Section 18(m)(ii) is applicable as an event or circumstance constituting Good Reason, the rate in effect immediately prior to such event or circumstance, together with all compensation and benefits payable to the Executive through the Date of Termination under the terms of the Company’s compensation and benefit plans, programs or arrangements as in effect immediately prior to the Date of Termination (or, if more favorable to the Executive, as in effect immediately prior to the first occurrence of an event or circumstance constituting Good Reason). In addition, if the Executive’s employment is terminated for any reason during the Term other than (a) by the Company for Cause or (b) by the Executive without Good Reason, then the Company shall pay a pro-rata portion of the Executive’s annual bonus for the performance year in which such termination occurs to the Executive. This pro-rata bonus shall be determined by multiplying the amount the Executive would have received if the applicable performance goals were achieved at the target level of performance by a fraction, the numerator of which is the number of days during such performance year that the Executive is employed by the Company and the denominator of which is 365 and shall be paid at the time described in Section 5.4.
4.2    If the Executive’s employment shall be terminated for any reason during the Term, the Company shall pay to the Executive the Executive’s normal post-termination compensation and benefits as such payments become due. Such post-termination compensation and benefits shall be determined under, and paid in accordance with, the Company’s retirement, insurance and other compensation or benefit plans, programs and arrangements as in effect immediately prior to the Date of Termination or, if more favorable to the Executive, as in effect immediately prior to the occurrence of the first event or circumstance constituting Good Reason.
5.    Severance Payments.
5.1    If the Executive’s employment is terminated during the Term, other than (A) by the Company for Cause, (B) by reason of death or Disability, or (C) by the Executive without Good Reason, then the Company shall pay the Executive the amounts and provide the Executive the benefits described in this Section 5 collectively, the “Severance Payments”) in addition to any payments and benefits to which the Executive is entitled under Section 4 of this Agreement. 
		
	(a)
	In lieu of any further salary payments to the Executive for periods subsequent to the Date of Termination and in lieu of any severance benefit otherwise payable to the Executive, the Company shall pay to the Executive a lump sum severance payment, in cash, equal to the sum of (i) two (2) times the Executive’s base salary as in effect immediately prior to the Closing or, if Section 18(m)(ii) is applicable as an event or circumstance constituting Good Reason, the rate in effect immediately prior to the Closing, and (ii) two (2) times the Executive’s target annual bonus as in effect immediately preceding the Closing, pursuant to any annual bonus or incentive plan maintained by the Company, or if Section 18(m)(ii) is applicable as an event or circumstance constituting Good Reason, the target annual bonus in effect immediately prior to the Closing.

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	(b)
	For the twenty-four (24) month period immediately following the Date of Termination, the Company shall arrange to provide the Executive and his dependents medical, dental and accidental death and dismemberment benefits on a monthly basis that is substantially similar to such benefits as provided to the Executive and the Executive’s dependents immediately prior to the Date of Termination or, if more favorable to the Executive, those provided to the Executive and his dependents immediately prior to the first occurrence of an event or circumstance constituting Good Reason, at no greater cost to the Executive than the cost to the Executive immediately prior to such date or occurrence. The parties intend that the first eighteen (18) months of continued medical and dental coverage shall not constitute a “deferral of compensation” under Treas. Reg. Sect. l.409A-l(b), and that continued accidental death and dismemberment benefits hereunder shall qualify as a “limited payment” of an “in kind” benefit under Treas. Reg. Sect. l.409A-l(b)(9)(v)(C) and (D). Any portion of the continued medical, dental and accidental death and dismemberment coverage under this Section 5.l(b) that is subject to Section 409A is intended to qualify as a “reimbursement or in-kind benefit plan” under Treas. Reg. Sect. 1.409A- 3(i)(l )(iv). Benefits otherwise receivable by the Executive pursuant to this Section 5.1(b) shall be reduced to the extent benefits of the same type are received by or made available by a subsequent employer to the Executive during the twenty-four (24) month period following the Date of Termination (and any such benefits received by or made available to the Executive shall be reported to the Company by the Executive) provided, however, that the Company shall reimburse the Executive for the excess, if any, of the cost of such benefits to the Executive over such cost immediately prior to the Date of Termination or, if more favorable to the Executive, the first occurrence of an event or circumstance constituting Good Reason. Any such reimbursement under this Section 5.l(b) shall be made promptly in accordance with Company policy, but in any event on or before the last day of the Executive’s taxable year following the taxable year in which the expense or cost was incurred. In no event shall the amount that the Company pays for any such benefit in any one (1) year affect the amount that it will pay in any other year and in no event shall the benefits described in this paragraph be subject to liquidation or exchange.

		
	(c)
	The Company (i) shall establish an irrevocable grantor trust holding an amount of assets sufficient to pay all remaining premiums (which trust shall be required to pay such premiums), under any insurance policy maintained by the Company insuring the life of the Executive, that is in effect and (ii) shall transfer to the Executive any and all rights and incidents of ownership in such arrangements at no cost to the Executive. Notwithstanding the foregoing, in no event shall the Company establish or fund any such rabbi trust in a manner or on terms that would result in the imposition of any tax, penalty or interest upon the Executive under Section 409A(b)(1) of the Code, and in no event shall the Company be obligated to, nor shall it, fund any such rabbi trust “in connection with a change in the employer’s financial health” within the meaning of Section 409A(b)(2) of the Code. In the event that one or more premiums become due and payable during the six (6) month period beginning on the Executive’s employment termination, the Company shall timely notify the Executive so that any such premium payment can be made by the Executive directly to the 

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insurance carrier. At the end of such six (6) month period, the Company shall reimburse the Executive for all such premiums paid by the Executive, with interest at the applicable federal rate under Section 1274 of the Code, determined as of the Date of Termination.
		
	(d)
	The Company shall provide the Executive with reimbursement for up to Thirty Thousand Dollars ($30,000) in the aggregate for outplacement services, relocation costs, or both; provided, however, that reimbursement shall only be provided until the earlier of the first anniversary of the Date of Termination or the Executive’s first day of employment with a new employer. It is intended that reimbursements under this Section 5.1(d) shall not constitute a “deferral of compensation” for purposes of Section 409A of the Code pursuant to Treas. Reg. Sect. l.409A­ l(a)(9)(v)(A) and (C).

5.2    Section 4999 Excise Tax.
The Executive shall bear all expense of, and be solely responsible for, all federal, state, local or foreign taxes due with respect to any payment received under the Agreement, including, without limitation, any excise tax imposed by Section 4999 of the Code (the “Excise Tax”); provided, however, that any payment or benefit received or to be received by the Executive in connection with the Closing or the termination of employment (whether payable under the terms of the Agreement or any other plan, arrangement or agreement with the Company, the Parent or their respective affiliates (collectively, the “Payments”) that would constitute a “parachute payment” within the meaning of Section 280G of the Code, shall be reduced to the extent necessary so that no portion thereof shall be subject to the Excise Tax but only if, by reason of such reduction, the net after-tax benefit received by the Executive shall exceed the net after-tax benefit that would be received by the Executive if no such reduction was made. For purposes of this Section 5.2:
		
	(a)
	The “net after-tax benefit” shall mean (i) the Payments which the Executive receives or is then entitled to receive from the Company, the Parent or their respective affiliates that would constitute “parachute payments” within the meaning of Section 280G of the Code, less (ii) the amount of all federal, state and local income and employment taxes payable by the Executive with respect to the foregoing calculated at the highest marginal income tax rate for each year in which the foregoing shall be paid to the Executive (based on the rate in effect for such year as set forth in the Code as in effect at the time of the first payment of the foregoing), less (iii) the amount of Excise Tax imposed with respect to the payments and benefits described in (i) above.

		
	(b)
	All determinations under this Section 5.2 will be made by an accounting firm or law firm that is selected for this purpose by the Company prior to the Executive’s Date of Termination (the “280G Firm”). All fees and expenses of the 280G Firm shall be borne by the Company. The Company will direct the 280G Firm to submit any determination it makes under this Section 5.2 and detailed supporting calculations to the Executive and the Company as soon as reasonably practicable.

		
	(c)
	If the 280G Firm determines that one or more reductions are required under this Section 5.2, the 280G Firm shall also determine which Payments shall be reduced, and the Company 

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and/or the Parent shall pay such reduced amount to the Executive. The 280G Firm shall make reductions required under this Section 5.2 in a manner that maximizes the net after-tax amount payable to the Executive. If a reduction in the Payments is required under this Section 5.2(c), the Payments shall be reduced in the following order: (A) reduction of any cash payment (excluding any cash payment with respect to the acceleration of equity awards) that is otherwise payable to the Executive that is exempt from Section 409A of the Code; (B) reduction of any other payments or benefits otherwise payable to the Executive (other than those described in clause (C) below) on a pro-rata basis or such other manner that complies with Section 409A of the Code; and (C) reduction of any payment or benefit with respect to the acceleration of equity awards that is otherwise payable to the Executive (on a pro-rata basis as between equity awards that are covered by Section 409A of the Code and those that are not (or such other manner that complies with Section 409A of the Code)).
		
	(d)
	As a result of the uncertainty in the application of Section 280G at the time that the 280G Firm makes its determinations under this Section 5.2, it is possible that amounts will have been paid or distributed to the Executive that should not have been paid or distributed (collectively, the “Overpayments”), or that additional amounts should be paid or distributed to the Executive (collectively, the “Underpayments”). If the 280G Firm determines, based on either the assertion of a deficiency by the Internal Revenue Service against the Company, the Parent, or the Executive, which assertion the 280G Firm believes has a high probability of success, or controlling precedent or substantial authority, that an Overpayment has been made, the Executive must repay the Overpayment to the Company or the Parent, as applicable, without interest; provided, however, that no loan will be deemed to have been made and no amount will be payable by the Executive to the Company or the Parent, as applicable, unless, and then only to the extent that, the deemed loan and payment would either reduce the amount on which the Executive is subject to tax under Section 4999 of the Code or generate a refund of tax imposed under Section 4999 of the Code. If the 280G Firm determines, based upon controlling precedent or substantial authority, that an Underpayment has occurred, the 280G Firm will notify the Executive, the Company and/or the Parent, as applicable, of that determination and the amount of that Underpayment will be paid to the Executive promptly by the Company and/or the Parent, as applicable.

		
	(e)
	The parties will provide the 280G Firm access to and copies of any books, records and documents in their possession as reasonably requested by the 280G Firm, and otherwise cooperate with the 280G Firm in connection with the preparation and issuance of the determinations and calculations contemplated by this Section 5.2.

5.3    The Company also shall reimburse the Executive for reasonable legal fees and expenses incurred by the Executive in disputing in good faith any issue hereunder relating to the termination of the Executive’s employment or in seeking in good faith to obtain or enforce any benefit or right provided by this Agreement. Such payments shall be made within ten (10) business days after delivery of the Executive’s written request for payment accompanied with such evidence of fees and expenses incurred as the Company reasonably may require. Any such reimbursement under this Section 5.3 shall be made promptly in accordance with the 

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Company policy, but in any event on or before the last day of the Executive’s taxable year following the taxable year in which the expense or cost was incurred.
5.4    The Company shall pay the pro-rata bonus described in Section 4.1 and the cash amounts described in this Section 5 and shall provide the benefits described in this Section 5 to the Executive on the first business day after the effectiveness of the General Release described in Section 11(b), subject to the provisions of Section 15 with respect to compliance with Section 409A of the Code. Any cash amounts the payment of which is subject to delay pursuant to the operation of Section 15 shall be paid with interest at the applicable federal rate under Section 1274 of the Code determined as of the Date of Termination. If payments are not made in the time frame required by this Section 5.4, interest on the unpaid amounts will accrue at 120% of the rate provided in Section 1274(b)(2)(B) of the Code determined as of the first day following the time frame provided for herein until the date such payments are actually made. At the time that payments are made under this Agreement, the Company shall provide the Executive with a written statement setting forth the manner in which such payments were calculated and the basis for such calculations including, without limitation, any opinions or other advice the Company has received from the 280G Firm or other advisors (and any such opinions or advice which are in writing shall be attached to the statement).
5.5    Severance Payments In Lieu of Other Severance Benefits.
Severance Payments made under this Section 5 shall be in lieu of any severance benefit otherwise payable to the Executive by the Company or any affiliate of the Company.
6.    Termination Procedures and Compensation During Dispute.
6.1    Notice of Termination. During the Term, any purported termination of the Executive’s employment (other than by reason of death) shall be communicated by written Notice of Termination from one party hereto to the other party hereto in accordance with Section 9 of this Agreement. For purposes of this Agreement, a “Notice of Termination” shall mean a notice which shall indicate the specific termination provision in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive’s employment under the provision so indicated. Further, a Notice of Termination for Cause is required to include a copy of a resolution duly adopted by the affirmative vote of not less than a majority of the entire membership of the Board at a meeting of the Board which was called and held for the purpose of considering such termination (after reasonable notice to the Executive and an opportunity for the Executive, together with the Executive’s counsel, to be heard before the Board) finding that, in the good faith opinion of the Board, the Executive was guilty of conduct set forth in clause (i) or (ii) of the definition of Cause herein, and specifying the particulars thereof in detail.
6.2    Date of Termination. “Date of Termination,” with respect to any purported termination of the Executive’s employment during the Term, shall mean (i) if the Executive’s employment is terminated for Disability, thirty (30) days after Notice of Termination is given (provided that the Executive shall not have returned to the full-time performance of the Executive’s duties during such thirty (30) day period), and (ii) if the Executive’s employment is terminated for any other reason, the date specified in the Notice of Termination (which, in the case of a termination by the Company, shall not be less than thirty (30) days (except in the case of a termination for Cause) and, in the case of a termination by the Executive, shall not 

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be less than thirty (30) days nor more than sixty (60) days, respectively, from the date such Notice of Termination is given).
6.3    Dispute Concerning Termination. If within fifteen (15) days after any Notice of Termination is given, or, if later, prior to the Date of Termination (as determined without regard to this Section 6.3), the party receiving such Notice of Termination notifies the other party that a dispute exists concerning the termination, the Date of Termination shall be extended until the date on which the dispute is finally resolved, either by mutual written agreement of the parties or by a final judgment, order or decree of an arbitrator or a court of competent jurisdiction (which is not appealable or with respect to which the time for appeal therefrom has expired and no appeal has been perfected): provided, however, that the Date of Termination shall be extended by a notice of dispute given by the Executive only if such notice is given in good faith and the Executive pursues the resolution of such dispute with reasonable diligence.
6.4    Compensation During Dispute. If a purported termination occurs during the Term and the Date of Termination is extended in accordance with Section 6.3 of this Agreement, the Company shall continue to pay the Executive the full compensation in effect when the notice giving rise to the dispute was given (including, but not limited to, salary) and continue the Executive as a participant in all compensation, benefit and insurance plans in which the Executive was participating when the notice giving rise to the dispute was given, until the Date of Termination, as determined in accordance with Section 6.3 of this Agreement. Amounts paid under this Section 6.4 are in addition to all other amounts due under this Agreement (other than those due under Section 4.1 of this Agreement) and shall not be offset against or reduce any other amounts due under this Agreement. Notwithstanding anything to the contrary in Section 6.3 and this Section 6.4, if the Company, after delivery of a Notice of Termination, promptly (and in any event within thirty (30) days) determines that grounds existed prior to the delivery of the Notice of Termination to terminate the Executive’s employment for Cause after complying with the procedural requirements of this Agreement, the Company shall have the right to recover any payments that have been made to the Executive or on the Executive’s behalf under this Agreement including but not limited to offset against or reduction of any amounts due under this Agreement or otherwise.
7.    No Mitigation. The Company agrees that under this Agreement, if the Executive’s employment with the Company terminates, the Executive is not required to seek other employment or to attempt in any way to reduce any amounts payable to the Executive by the Company pursuant to Section 5 of this Agreement or Section 6.4 of this Agreement. Further, the amount of any payment or benefit provided for in this Agreement (other than as specifically provided in Section 5.1(b) of this Agreement) shall not be reduced by any compensation earned by the Executive as the result of employment by another employer, by retirement benefits, by offset against any amount claimed to be owed by the Executive to the Company, or otherwise.
8.    Successors; Binding Agreement.
8.1    In addition to any obligations imposed by law upon any successor to the Company, the Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company to expressly assume and agree to perform this Agreement in accordance with its terms.

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8.2    This Agreement shall inure to the benefit of and be enforceable by the Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. If the Executive shall die while any amount would still be payable to the Executive hereunder (other than amounts which, by their terms, terminate upon the death of the Executive) if the Executive had continued to live, all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement to the executors, personal representatives or administrators of the Executive’s estate.
9.    Notice. For the purpose of this Agreement, notices and all other communications provided for in this Agreement shall be in writing and shall be deemed to have been duly given (a) on the date of delivery if delivered by hand, (b) on the date of transmission, if delivered by confirmed facsimile, (c) on the first business day following the date of deposit if delivered by guaranteed overnight delivery service, or (d) on the fourth business day following the date delivered or mailed by United States registered or certified mail, return receipt requested, postage prepaid, addressed as follows:
If to the Executive: at the address (or to the facsimile number) shown on the records of the Company.
If to the Company: Kaman Industrial Technologies Corporation, 1 Vision Way, Bloomfield, CT 06002 Attention: Board of Directors, or to such other address as either party may have furnished to the other in writing in accordance herewith, except that notices of change of address shall be effective only upon receipt.
10.    Obligations after the Date of Termination.
		
	(a)
	Confidentiality. The Executive agrees that the Executive shall not, directly or indirectly, use, make available, sell, disclose or otherwise communicate to any person, other than in the course of the Executive’s employment and for the benefit of the Company, at any time following the Date of Termination, any nonpublic, proprietary or confidential information, knowledge or data relating to the Company, any of its subsidiaries, affiliated companies or businesses, which shall have been obtained by the Executive during the Executive’s employment by the Company. The foregoing shall not apply to information that (i) was known to the public prior to its disclosure to the Executive, (ii) becomes known to the public subsequent to disclosure to the Executive through no wrongful act of the Executive or any representative of the Executive, or (iii) the Executive is required to disclose by applicable law, regulation or legal process (provided that the Executive provides the Company with prior notice of the contemplated disclosure and reasonably cooperates with the Company at its expense in seeking a protective order or other appropriate protection of such information). Notwithstanding clauses (i) and (ii) of the preceding sentence, the Executive’s obligation to maintain such disclosed information in confidence shall not terminate where only portions of the information are in the public domain.

		
	(b)
	Non-Solicitation. The Executive agrees that for the two (2) year period following the Date of Termination, the Executive will not, directly or indirectly, individually or on behalf of any other person, firm, corporation or other entity, solicit, recruit or hire any person who at any time is a Company Group Employee (as hereinafter defined); provided, that the foregoing 

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shall not prohibit (i) a general solicitation to the public of general advertising or similar methods of solicitation by search firms not specifically directed at Company Group Employees or (ii) the Executive from soliciting, recruiting or hiring any Company Group Employee who (x) has voluntarily ceased to be employed or retained by the Company or its Affiliates for at least twelve (12) months, or (y) has been terminated and ceased to be employed or retained by the Company or its Affiliates.  For purposes of this Section 10(b), “Company Group Employees” means, collectively, officers, directors and employees of the Company and its Affiliates.
		
	(c)
	Non-Competition. For a period of two (2) years following the Date of Termination, the Executive shall not, directly or indirectly through any person or contractual arrangement, engage in any business anywhere in North America that is competitive with the Business, or perform management, executive or supervisory functions with respect to, own, operate, join, control, render financial assistance to, receive any economic benefit from, exert any influence upon, participate in, render services or advice to, or be connected as an officer, employee, partner, member, stockholder or consultant with, any business or person that competes in whole or in part with the Business; provided, that the Executive may individually own up to five percent (5%) of the outstanding shares of a publicly held person that is competitive with the Business so long as the Executive does not actively participate in the management of such person, or otherwise control or exert influence over such person.  For purposes hereof, “Business” means the business of distributing third-party power transmission, automation and fluid power products, including industrial electro-mechanical products, bearings, power transmission, motion control and electrical and fluid power components, along with related engineered integrated solutions and sales of private label branded products, and certain maintenance, repair and other services related thereto.  Without limitation, the businesses and persons specified in Section 4.08(b) of the Disclosure Schedule to the Sale Agreement are deemed to be compete with the Business.

		
	(d)
	Non-Disparagement. Executive agrees that he shall not disparage the Company or any of its Affiliates in any way that could adversely affect the goodwill, reputation or business relationships of the Company or any of its Affiliates with the public generally, or with any of their customers, suppliers or employees (other than ordinary course sales communications or as required by applicable law).  Notwithstanding the foregoing, statements made in the course of sworn testimony in administrative, judicial or arbitral proceedings (including, without limitation, depositions in connection with such proceedings) or otherwise as required by law shall not be subject to this Section 10(d).

		
	(e)
	Return of Company Property and Records. The Executive agrees that upon termination of the Executive’s employment, for any cause whatsoever, the Executive will surrender to the Company in good condition (reasonable wear and tear excepted) all property and equipment belonging to the Company and all records kept by the Executive containing the names, addresses or any other information with regard to customers or customer contacts of the Company, or concerning any proprietary or confidential information of the Company or any 

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operational, financial or other documents given to the Executive during the Executive’s employment with the Company.
		
	(f)
	Cooperation. The Executive agrees that, following termination of the Executive’s employment for any reason, the Executive shall upon reasonable advance notice, and to the extent it does not interfere with previously scheduled travel plans and does not unreasonably interfere with other business activities or employment obligations, assist and cooperate with the Company with regard to any matter or project in which the Executive was involved during the Executive’s employment, including any litigation. The Company shall compensate the Executive for any lost wages (or, if the Executive is not then employed, provide reasonable compensation as determined by the Compensation Committee) and expenses associated with such cooperation and assistance.

		
	(g)
	Assignment of Inventions. The Executive will promptly communicate and disclose in writing to the Company all inventions and developments, including software, whether patentable or not, as well as patents and patent applications (hereinafter collectively called “Inventions”), made, conceived, developed or purchased by the Executive, or under which the Executive acquires the right to grant licenses or to become licensed, alone or jointly with others, which have arisen or which arise out of the Executive’s employment with the Company, or relate to any matters directly pertaining to the business of the Company or any of its subsidiaries. Included herein as if developed during the employment period is any specialized equipment and software developed for use in the business of the Company. All of the Executive’s right, title and interest in, to and under all such Inventions, licenses and right to grant licenses shall be the sole property of the Company. As to all such Inventions, the Executive will, upon request of the Company, (i) execute all documents which the Company deems necessary or proper to enable it to establish title to such Inventions or other rights, and to enable it to file and prosecute applications for letters patent of the United States and any foreign country, and (ii) do all things (including the giving of evidence in suits and other proceedings) which the Company deems necessary or proper to obtain, maintain or assert patents for any and all such Inventions or to assert its rights in any Inventions not patented.

		
	(h)
	Equitable Relief and Other Remedies. The parties acknowledge and agree that the other party’s remedies at law for a breach or threatened breach of any of the provisions of this Section 10 would be inadequate and, in recognition of this fact, the parties agree that, in the event of such a breach or threatened breach, in addition to any remedies at law, the other party, without posting any bond, shall be entitled to obtain equitable relief in the form of specific performance, temporary restraining order, a temporary or permanent injunction or any other equitable remedy which may then be available.

		
	(i)
	Reformation. If it is determined by a court of competent jurisdiction in any state that any restriction in this Section 10 is excessive in duration or scope or is unreasonable or unenforceable under the laws of that state, it is the intention of the parties that such restriction 

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may be modified or amended by the court to render it enforceable to the maximum extent permitted by the law of that state.
		
	(j)
	Survival of Provisions. The obligations contained in this Section 10 shall survive the termination or expiration of the Executive’s employment with both the Company and shall be fully enforceable thereafter.

11.    Conditions. The Company and the Executive agree that any payments or benefits made or provided pursuant to this Agreement are subject to the Executive’s:
		
	(a)
	compliance with the provisions of Sections 10(a), 10(b), 10(c), 10(e) and 10(g) hereof;

		
	(b)
	delivery to the Company of an executed Agreement and General Release (the “General Release”), which shall be substantially in the form attached hereto as Appendix A (with such changes therein or additions thereto as needed under then applicable law to give effect to its intent and purpose) within twenty-one (21) days of presentation thereof by the Company to the Executive (which presentation shall be made by the Company no later than two (2) business days following the Date of Termination); and

		
	(c)
	delivery to the Company of a resignation from all offices, directorships and fiduciary positions with the Company, its affiliates and employee benefit plans with the General Release.

If the Executive fails to return an executed General Release to the Company within such twenty-one (21) day period, or the Executive subsequently revokes such timely release, the Company shall not have any obligation to pay any amounts or benefits under Section 5 of this Agreement. The Executive shall provide the General Release to the Company at the following address: Kaman Industrial Technologies Corporation, 1 Vision Way, Bloomfield, CT 06002 Attention: Board of Directors.
12.    Miscellaneous. No provision of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing and signed by the Executive and the Company. No waiver by any party hereto at any time of any breach by any other party hereto of, or of any lack of compliance with, any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of Connecticut without regard to its conflicts of law principles. Any payments provided for hereunder shall be paid net of any applicable withholding required under federal, state or local law and any additional withholding to which the Executive has agreed. The obligations of the Company and the Executive under this Agreement which by their nature may require either partial or total performance after its expiration shall survive any such expiration.
13.    Validity; Counterparts. The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which shall remain in full 

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force and effect. This Agreement may be executed in several counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same instrument.
14.    Supersedes All Other Agreements. This Agreement supersedes any other agreements or representations, oral or otherwise, express or implied, with respect to the subject matter hereof which have been made by either party, including the Parent CIC Agreement.
15.    Section 409A. It is the intention of the Company and the Executive that this Agreement not result in taxation of the Executive under Section 409A of the Code and the regulations and guidance promulgated thereunder and that the Agreement shall be construed and administered in accordance with such intention. Notwithstanding the foregoing, the Company shall in any event be obligated to indemnify the Executive for any taxes or interest that may be assessed by the IRS pursuant to Section 409A of the Code. Notwithstanding anything to the contrary herein, if the Executive is a “specified employee” (within the meaning of Section 409A(a)(2)(B)(i) of the Code) with respect to the Company, any amounts (or benefits) otherwise payable to or in respect of the Executive under this Agreement pursuant to the Executive’s termination of employment with the Company shall be delayed to the extent required so that taxes are not imposed on the Executive pursuant to Section 409A of the Code, and shall be paid upon the earliest date permitted by Section 409A(a)(2) of the Code. For purposes of this Agreement, the Executive’s employment with the Company, the Company and its Affiliates will not be treated as terminated unless and until such termination of employment constitutes a “separation from service” for purposes of Section 409A of the Code.
16.    Settlement of Disputes. All claims by the Executive for benefits under this Agreement shall be directed to and determined by the Board and shall be in writing. Any denial by the Board of a claim for benefits under this Agreement shall be delivered to the Executive in writing and shall set forth the specific reasons for the denial and the specific provisions of this Agreement relied upon. The Board shall afford a reasonable opportunity to the Executive for a review of the decision denying a claim and shall further allow the Executive to appeal to the Board a decision of the Board within sixty (60) days after notification by the Board that the Executive’s claim has been denied.
17.    Arbitration. Any further dispute or controversy arising under or in connection with this Agreement shall be settled exclusively by arbitration in Hartford, Connecticut, in accordance with the rules of the American Arbitration Association then in effect; provided, however, that the evidentiary standards set forth in this Agreement shall apply. Judgment may be entered on the arbitrator’s award in any court having jurisdiction. Notwithstanding any provision of this Agreement to the contrary, the Executive shall be entitled to seek specific performance of the Executive’s right to be paid until the Date of Termination during the pendency of any dispute or controversy arising under or in connection with this Agreement.
18.    Definitions. For purposes of this Agreement, the following terms shall have the meanings indicated below:
		
	(a)
	“Affiliate” shall have the meaning set forth in Rule 12b-2 promulgated under Section 12 of the Exchange Act.

		
	(b)
	“Beneficial Owner” shall have the meaning set forth in Rule 13d-3 under the Exchange Act.

12

		
	(c)
	“Board” shall mean the Board of Directors of the Company.

		
	(d)
	“Cause” for termination by the Company of the Executive’s employment shall mean (i) the Executive engaging in fraud, embezzlement, or theft in connection with the Executive’s duties or in the course of his or her employment with the Company; (ii) an act or omission by the Executive that is wilfully or grossly negligent, contrary to the Company’s established policies or practices, or materially harmful to the Company’s business or reputation or to the business of the Company’s customers or suppliers as it relates to the Company; (iii) the Executive’s plea of no contest to, or conviction of, a felony; (iv) the Executive’s substantial failure to perform his or her duties after receiving notice of the failure from the Board, which failure has not been cured within thirty (30) days after the Executive receives notice of the failure; or (v) the Executive’s breach of any material employment-related covenants under this Agreement or any other applicable agreement between the Executive and the Company.

		
	(e)
	“Closing” shall have the meaning set forth in the preamble to this Agreement. 

		
	(f)
	“Code” shall mean the Internal Revenue Code of 1986, as amended from time to time, and any successor Code, and related rules, regulations and interpretations.

		
	(g)
	“Company” shall have the meaning set forth for such term in the Preamble.

		
	(h)
	Intentionally Omitted.

		
	(i)
	“Date of Termination” shall have the meaning set forth in Section 6.2 of this Agreement.

		
	(j)
	“Disability” shall be deemed the reason for the termination by the Company of the Executive’s employment, if, as a result of the Executive’s incapacity due to physical or mental illness, the Executive shall have been absent from the full-time performance of the Executive’s duties with the Company for a period of six (6) consecutive months, the Company shall have given the Executive a Notice of Termination for Disability, and, within thirty (30) days after such Notice of Termination is given, the Executive shall not have returned to the full-time performance of the Executive’s duties.

		
	(k)
	“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended from time to time.

		
	(l)
	“Excise Tax” shall mean any excise tax imposed under Section 4999 of the Code.

		
	(m)
	“Executive” shall mean the individual named in the preamble to this Agreement.

		
	(n)
	“Good Reason” for termination by the Executive of the Executive’s employment shall mean the occurrence (without the Executive’s express written consent) during the Term, of any one of the following acts by the Company or failures by the Company to act, unless such act or failure to act is corrected prior to the Date of Termination specified in the Notice of Termination given in respect thereof:

13

		
	(i)
	the assignment to the Executive of any duties inconsistent with the Executive’s status as an executive of the Company or a substantial diminution in the nature or status of the Executive’s responsibilities from those in effect immediately prior to the Closing;

		
	(ii)
	a reduction by the Company in the Executive’s annual Base Salary as in effect on the Signing Date or as the same may be increased from time to time;

		
	(iii)
	the relocation of the Executive’s principal place of employment to a location more than fifty (50) miles from the Executive’s principal place of employment immediately prior to the Closing or the Company’s requiring the Executive to be based anywhere other than such principal place of employment (or permitted relocation thereof) except for required travel on the Company’s business to an extent substantially consistent with the Executive’s business travel obligations immediately prior to the Closing;

		
	(iv)
	the failure by the Company to pay to the Executive any portion of the Executive’s current compensation, or failure by the Company to pay to the Executive any portion of an installment of deferred compensation under any deferred compensation program of the Company, within thirty (30) days of the date such compensation is due;

		
	(v)
	the failure by the Company to continue in effect any compensation plan in which the Executive participates immediately prior to the Closing which is material to the Executive’s total compensation, unless an equitable arrangement (embodied in an ongoing substitute or alternative plan) has been made with respect to such plan, or the failure by the Company to continue the Executive’s participation therein (or in such substitute or alternative plan) on a basis not materially less favorable, both in terms of the amount or timing of payment of benefits provided and the level of the Executive’s participation relative to other participants in the Company’s compensation plans, as existed immediately prior to the Closing;

		
	(vi)
	the failure by the Company to continue to provide the Executive with benefits substantially similar to those enjoyed by the Executive under any of the Company’s life insurance, health and accident or disability plans in which the Executive was participating immediately prior to the Date of Termination, the taking of any other action by the Company which would directly or indirectly materially reduce any of such benefits or deprive the Executive of any material fringe benefit enjoyed by the Executive at the time of the Closing, or the failure by the Company to provide the Executive with the number of paid vacation days to which the Executive is entitled on the basis of years of service with the Company, which shall include his service with the Parent prior to the Closing, in accordance with the Company’s normal vacation policy in effect at the time of the Closing; provided, however, that this paragraph shall not be construed to require the Company to provide the Executive with a defined benefit pension plan if no such plan is provided to similarly situated executive officers of the Company or its Affiliates;

14

		
	(vii)
	any purported termination of the Executive’s employment which is not effected pursuant to a Notice of Termination satisfying the requirements of Section 6.1 of this Agreement; for purposes of this Agreement, no such purported termination shall be effective; or

		
	(viii)
	the failure of any successor to the Company (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company to expressly assume and agree to perform this Agreement in accordance with its terms prior to the effectiveness of any such succession (provided, that, notwithstanding anything to the contrary, the successor to the Company as a result of the conversion of the Company to a Delaware limited liability company promptly following the Closing shall be deemed to have expressly assumed and agreed to perform this Agreement in accordance with its terms prior to the effectiveness of such conversion and succession).

The Executive’s right to terminate the Executive’s employment for Good Reason shall not be affected by the Executive’s incapacity due to physical or mental illness. The Executive’s continued employment shall not constitute consent to, or a waiver of rights with respect to, any act or failure to act constituting Good Reason hereunder.
Notwithstanding anything to the contrary above, the Executive shall not have “Good Reason” to terminate employment due solely to a suspension of the Executive’s position, job functions, authorities, duties and responsibilities while on paid administrative leave due to a reasonable belief by the Board that the Executive has engaged in conduct that would give adequate grounds to terminate the Executive’s employment for Cause.
		
	(o)
	“Notice of Termination” shall have the meaning set forth in Section 6.1 of this Agreement.

		
	(p)
	“Parent” shall have the meaning set forth in the preamble to this Agreement. 

		
	(q)
	“Payments” shall have the meaning set forth in Section 5.2 of this Agreement.

		
	(r)
	“Sale Agreement” shall have the meaning set forth in the preamble to this Agreement. 

		
	(s)
	“Signing Date” shall have the meaning set forth in the preamble to this Agreement.

		
	(t)
	“Subsidiary” shall mean any corporation within the meaning of Section 424(f) of the Code.

		
	(u)
	“Term” shall mean the period of time described in Section 2 of this Agreement.

[SIGNATURE PAGE IMMEDIATELY FOLLOWS]

15

IN WITNESS WHEREOF, the parties have executed this agreement.
KAMAN INDUSTRIAL TECHNOLOGIES CORPORATION
/s/ Gregory T. Troy                                                
By:  Gregory T. Troy
Its:  Vice President
June 25, 2019                                                        
Date
EXECUTIVE
/s/ Alphonse J. Lariviere, Jr.                                 
Alphonse J. Lariviere, Jr.
June 25, 2019                                                        
Date

16

APPENDIX A 
FORM OF RELEASE
AGREEMENT AND GENERAL RELEASE
Kaman Industrial Technologies Corporation, its affiliates, subsidiaries, divisions, successors and assigns in such capacity, and the current, future and former employees, officers, directors, trustees and agents thereof (collectively referred to throughout this Agreement as “Employer”), and Alphonse J. Lariviere Jr. (“Executive”), the Executive’s heirs, executors, administrators, successors and assigns (collectively referred to throughout this Agreement as “Employee”) agree:
1.Last Day of Employment. Executive’s last day of employment with the Employer is [●DATE]. In addition, effective as of [●DATE], Executive resigns from the Executive’s position(s) as [●POSITION(S)] of the Employer and will not be eligible for any benefits or compensation after [●DATE] other than as specifically provided under the Change in Control Agreement between Employer and Executive effective as of the consummation of the Employer’s sale of the Company (the “Change in Control Agreement”). Executive further acknowledges and agrees that, after [●DATE], the Executive will not represent the Executive as being a director, employee, officer, trustee, agent or representative of the Employer for any purpose. In addition, effective as of [●DATE], Executive resigns from all offices, directorships, trusteeships, committee memberships and fiduciary capacities held with, or on behalf of, the Employer or any benefit plans of the Employer. These resignations will become irrevocable as set forth in Section 3 below.
2.    Consideration. The parties acknowledge that this Agreement and General Release is being executed in accordance with Section 11 of the Change in Control Agreement.
3.    Revocation. Executive may revoke this Agreement and General Release for a period of seven (7) calendar days following the day Executive executes this Agreement and General Release. Any revocation within this period must be submitted, in writing, to Employer and state, “I hereby revoke my acceptance of our Agreement and General Release.” The revocation must be personally delivered to Employer’s General Counsel, or his/her designee, or mailed to Kaman Industrial Technologies Corporation, 1 Vision Way, Bloomfield, CT 06002 Attention: Board of Directors, and postmarked within seven (7) calendar days of execution of this Agreement and General Release. This Agreement and General Release shall not become effective or enforceable until the revocation period has expired. If the last day of the revocation period is a Saturday, Sunday or legal holiday in Hartford, Connecticut, then the revocation period shall not expire until the next following day which is not a Saturday, Sunday or legal holiday.
4.    General Release of Claim. Subject to the full satisfaction by the Employer of its obligations under the Change in Control Agreement, Employee knowingly and voluntarily releases and forever discharges Employer from any and all claims, causes of action, demands, fees and liabilities of any kind whatsoever, whether known or unknown, against Employer, Employee has, has ever had or may have as of the date of execution of this Agreement and General Release, including, but not limited to, any alleged violation of:
		
	–
	Title VII of the Civil Rights Act of 1964, as amended; The Civil Rights Act of 1991;

		
	–
	Sections 1981 through 1988 of Title 42 of the United States Code, as amended; 

		
	–
	The Employee Retirement Income Security Act of 1974, as amended;

		
	–
	The Immigration Reform and Control Act, as amended; 

		
	–
	The Americans with Disabilities Act of 1990, as amended;

		
	–
	The Age Discrimination in Employment Act of 1967, as amended; 

		
	–
	The Older Workers Benefit Protection Act of 1990;

		
	–
	The Worker Adjustment and Retraining Notification Act, as amended; 

		
	–
	The Occupational Safety and Health Act, as amended;

		
	–
	The Family and Medical Leave Act of 1993;

		
	–
	Any wage payment and collection, equal pay and other similar laws, acts and statutes of the State of Connecticut;

		
	–
	Any other federal, state or local civil or human rights law or any other local, state or federal law, regulation or ordinance;

		
	–
	Any public policy, contract, tort or common law; or

		
	–
	Any allegation for costs, fees or other expenses including attorneys’ fees incurred in these matters.

Notwithstanding anything herein to the contrary, the sole matters to which the Agreement and General Release do not apply are: (i) Executive’s express rights under any pension or claims for accrued vested benefits under any other employee benefit plan, policy or arrangement maintained by an Employer or under COBRA, (ii) Executive’s rights under the provisions of the Change in Control Agreement which are intended to survive termination of employment, (iii) Executive’s rights as a stockholder, or (iv) Executive’s rights to indemnification from Kaman Industrial Technologies Corporation or an affiliate, whether pursuant to contract, the governing documents of the applicable entity, applicable law or otherwise.
5.    No Claims Permitted. Executive waives Executive’s right to file any charge or complaint against an Employer arising out of Executive’s employment with or separation from an Employer before any federal, state or local court or any state or local administrative agency, except where such waivers are prohibited by law.  Notwithstanding the foregoing, Executive understands that nothing contained in this Agreement and General Release prevents or limits Executive’s ability to file a charge or complaint with, cooperating with or participating in any investigation or proceeding before, the Equal Employment Opportunity Commission, the National Labor Relations Board, the Occupational Safety and Health Administration, the Securities and Exchange Commission or any other federal, state or local governmental 

agency or commission (“Government Agencies”). Executive further understands that this Agreement and General Release does not limit Executive’s ability from reporting possible violations of applicable laws to the Government Agencies communicate with any Government Agencies or otherwise communicating with them, including providing documents or other information, without notice to Employer. This Agreement and General Release does not limit Executive’s right to receive an award for information provided to any Government Agencies. This Agreement and General Release also excludes any claims made under state workers’ compensation or unemployment laws, or any claims which cannot be waived by law.
6.    Affirmations. Executive affirms Executive has not filed, has not caused to be filed and is not presently a party to, any claim, complaint or action against Employer in any forum. Executive further affirms that the Executive has been paid and/or has received all compensation, wages, bonuses, commissions and/or benefits to which Executive may be entitled and no other compensation, wages, bonuses, commissions and/or benefits are due to Executive, except as provided under the Change in Control Agreement. Executive also affirms Executive has no known workplace injuries.
7.    Cooperation; Return of Property. In accordance with Section 10(f) of the Change in Control Agreement, Executive agrees to reasonably cooperate with Employer and its counsel in connection with any investigation, administrative proceeding or litigation relating to any matter that occurred during Executive’s employment in which Executive was involved or of which Executive has knowledge, and Employer will reimburse the Executive for any reasonable out-of-pocket travel, delivery or similar expenses incurred and lost wages (or will provide reasonable compensation if Executive is not then employed) in providing such service to Employer. The Executive represents the Executive has complied with Section 10(e) of the Change in Control Agreement regarding the return of Employer property and records.
8.    Governing Law and Interpretation. This Agreement and General Release shall be governed and conformed in accordance with the laws of the State of Connecticut without regard to its conflict of laws provisions. In the event Executive or Employer breaches any provision of this Agreement and General Release, Executive and Employer affirm either may institute an action to specifically enforce any term or terms of this Agreement and General Release. Should any provision of this Agreement and General Release be declared illegal or unenforceable by any court of competent jurisdiction and should the provision be incapable of being modified to be enforceable, such provision shall immediately become null and void, leaving the remainder of this Agreement and General Release in full force and effect. Nothing herein, however, shall operate to void or nullify any general release language contained in the Agreement and General Release.
9.    No Admission of Wrongdoing. Executive agrees neither this Agreement and General Release nor the furnishing of the consideration for this Release shall be deemed or construed at any time for any purpose as an admission by Employer of any liability or unlawful conduct of any kind.
10.    Amendment. This Agreement and General Release may not be modified, altered or changed except upon express written consent of both parties wherein specific reference is made to this Agreement and General Release.
11.    Entire Agreement. This Agreement and General Release sets forth the entire agreement between the parties hereto and fully supersedes any prior agreements or understandings between the parties 

provided, however, that notwithstanding anything in this Agreement and General Release, the provisions in the Change in Control Agreement which are intended to survive termination of the Change in Control Agreement, including but not limited to those contained in Section 10 thereof, shall survive and continue in full force and effect. Executive acknowledges Executive has not relied on any representations, promises or agreements of any kind made to Executive in connection with Executive’s decision to accept this Agreement and General Release.
EXECUTIVE HAS BEEN ADVISED THAT EXECUTIVE HAS UP TO TWENTY-ONE (21) CALENDAR DAYS TO REVIEW THIS AGREEMENT AND GENERAL RELEASE AND HAS BEEN ADVISED IN WRITING TO CONSULT WITH AN ATTORNEY PRIOR TO EXECUTION OF THIS AGREEMENT AND GENERAL RELEASE.
EXECUTIVE AGREES ANY MODIFICATIONS, MATERIAL OR OTHERWISE, MADE TO THIS AGREEMENT AND GENERAL RELEASE DO NOT RESTART OR AFFECT IN ANY MANNER THE ORIGINAL TWENTY-ONE (21) CALENDAR DAY CONSIDERATION PERIOD.
HAVING ELECTED TO EXECUTE THIS AGREEMENT AND GENERAL RELEASE, TO FULFILL THE PROMISES SET FORTH HEREIN, AND TO RECEIVE THE SUMS AND BENEFITS SET FORTH IN THE CHANGE IN CONTROL AGREEMENT, EXECUTIVE FREELY AND KNOWINGLY, AND AFTER DUE CONSIDERATION, ENTERS INTO THIS AGREEMENT AND GENERAL RELEASE INTENDING TO WAIVE, SETTLE AND RELEASE ALL CLAIMS EXECUTIVE HAS OR MIGHT HAVE AGAINST EMPLOYER.
IN WITNESS WHEREOF, the parties hereto knowingly and voluntarily executed this Agreement and General Release as of the date set forth below:
KAMAN INDUSTRIAL TECHNOLOGIES CORPORATION
By:                                                                        
Name:  Gregory T. Troy
Title:     Vice President
Date:                                                                       
                                                                                
 Alphonse J. Lariviere, Jr.
Date:EX-10.1

 Exhibit 10.1 

ONE STOP SYSTEMS, INC. 

$10,000,000 
 COMMON
STOCK 
 EQUITY DISTRIBUTION AGREEMENT 

June 26, 2019 
 Noble Capital
Markets, Inc. 
 225 NE Mizner Boulevard, Suite 150 
 Boca
Raton, Florida 33432 
 Ladies and Gentlemen: 

One Stop Systems, Inc., a Delaware corporation (the “Company”), confirms its agreement (this
“Agreement”) with Noble Capital Markets, Inc., a Florida corporation (“Noble”), as follows: 

1.    Issuance and Sale of Shares. The Company agrees that, from time to time during the term of
this Agreement, on the terms and subject to the conditions set forth herein, it may issue and sell to or through Noble, acting as agent and/or principal, shares of the Company’s common stock, par value $0.0001 per share (the “Common
Stock”), having an aggregate offering price of up to $10,000,000 (the “Maximum Amount”), subject to the limitations set forth in Section 3(b) hereof. The issuance and sale of shares of
Common Stock to or through Noble will be effected pursuant to the Registration Statement (as defined below) filed by the Company and which was declared effective under the Securities Act (as defined below) by the U.S. Securities and Exchange
Commission (the “Commission”). 

 The Company has filed, in accordance with the provisions of the Securities
Act of 1933, as amended, and the rules and regulations thereunder (collectively, the “Securities Act”), with the Commission, not earlier than three years prior to the date hereof, a shelf registration statement on Form S-3 (File No. 333-231513), including a base prospectus, relating to certain securities, including the Common Stock, to be issued from time to time by the Company,
and which incorporates by reference documents that the Company has filed or will file in accordance with the provisions of the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder (collectively, the
“Exchange Act”). The Company has prepared a prospectus supplement to the base prospectus included as part of such registration statement at the time it became effective specifically relating to the offering of Common Stock
pursuant to this Agreement (the “Prospectus Supplement”). The Company will furnish to Noble, for use by Noble, copies of the prospectus included as part of such registration statement, as supplemented by the Prospectus
Supplement, relating to the offering of Common Stock pursuant to this Agreement. Except where the context otherwise requires, “Registration Statement,” as used herein, means such registration statement, as amended at the time
of such registration statement’s effectiveness for purposes of Section 11 of the Securities Act, as well as any new registration statement as may have been filed pursuant to Section 7(w), including (1) all
documents filed as a part thereof or incorporated or deemed to be incorporated by reference therein (the “Incorporated Documents”), (2) any information contained or incorporated by reference in a Prospectus (as defined below)
subsequently filed with the Commission pursuant to Rule 424(b) under the Securities Act, (the “Incorporated Information”) to the extent such information is deemed, pursuant to Rule 430B or Rule 430C under the Securities Act,
to be part of the registration statement at the effective time, and (3) any abbreviated registration statement filed pursuant to Rule 462(b) under the Securities Act to register the offer and sale of additional shares of Common Stock pursuant
to this Agreement. Except where the context otherwise requires, “Prospectus,” as used herein, means the base prospectus included in the registration statement at the time it became effective, including all documents
incorporated therein by reference to the extent such information has not been superseded or modified in accordance with Rule 412 under the Securities Act (as qualified by Rule 430B(g) under the Securities Act), as it may be supplemented by the
Prospectus Supplement, in the form in which such prospectus and/or Prospectus Supplement have most recently been filed by the Company with the Commission pursuant to Rule 424(b) under the Securities Act, together with any “issuer free writing
prospectus,” as defined in Rule 433 of the Securities Act (“Rule 433”), relating to the Common Stock that (i) is required to be filed with the Commission by the Company or (ii) is exempt from filing pursuant to
Rule 433(d)(5)(i), in each case in the form filed or required to be filed with the Commission or, if not required to be filed, in the form retained in the Company’s records pursuant to Rule 433(g) (each, an “Issuer Free Writing
Prospectus”). Any reference herein to the Registration Statement, the Prospectus or any amendment or supplement thereto shall be deemed to refer to and include the documents incorporated by reference therein, and any reference herein to
the terms “amend,” “amendment” or “supplement” with respect to the Registration Statement or the Prospectus shall be deemed to refer to and include the filing after the execution hereof of any document with the
Commission deemed to be incorporated by reference therein. For purposes of this Agreement, all references to the Registration Statement, the Prospectus or to any amendment or supplement thereto shall be deemed to include any copy filed with the
Commission pursuant to either the Electronic Data Gathering Analysis and Retrieval System, or if applicable, the Interactive Data Electronic Applications (collectively “EDGAR”). 

2.    Placements. Each time that the Company wishes to issue and sell the Common Stock through
Noble, as agent, hereunder (each, a “Placement”), it will notify Noble by email notice (or other method mutually agreed to in writing by the parties) (a “Placement Notice”) containing the parameters in
accordance with which it desires the Common Stock to be sold, which shall at a minimum include the number of shares of Common Stock to be issued (the “Placement Shares”), the time period during which sales are requested to be
made, any limitation on the number of shares of Common Stock that may be sold in any one Trading Day (as defined in Section 3) and any minimum price below which sales may not be made, a form of which containing such minimum
sales parameters necessary is attached hereto as Schedule 1. The Placement Notice shall originate from any of the individuals from the Company set forth on
Schedule 2 (with a copy to each of the other individuals from the Company listed on such schedule), and shall be addressed to each of the individuals from Noble set forth on
Schedule 2, as such Schedule 2 may be amended from time to time. The Placement Notice shall be effective upon receipt by Noble unless and until (i) in
accordance with the notice requirements set forth in Section 4, Noble declines to accept the terms contained therein for any reason, in its sole discretion, (ii) the entire amount of the Placement Shares have been
sold, (iii) in accordance with the notice requirements set forth in Section 4, the Company suspends or terminates the Placement Notice, (iv) the Company issues a subsequent Placement Notice with parameters
superseding those on the earlier dated Placement Notice, or (v) the Agreement has been terminated under the provisions of Section 11. The amount of any discount, commission or other compensation to be paid by the
Company to Noble in connection with the sale of the Placement Shares through Noble, as agent, shall be as set forth in Schedule 3. It is expressly acknowledged and agreed that neither the Company nor
Noble will have any obligation whatsoever with respect to a Placement or any Placement Shares unless and until the Company delivers a Placement Notice to Noble and Noble does not decline such Placement Notice pursuant to the terms set forth above,
and then only upon the terms specified therein and herein. In the event of a conflict between the terms of this Agreement and the terms of a Placement Notice, the terms of the Placement Notice will control. 

  
 2 

 3.    Sale of Placement Shares by Noble. 

(a)    Subject to the terms and conditions herein set forth, upon the Company’s issuance of a
Placement Notice, and unless the sale of the Placement Shares described therein has been declined, suspended, or otherwise terminated in accordance with the terms of this Agreement, Noble, as agent for the Company, will use its commercially
reasonable efforts consistent with its normal trading and sales practices and applicable state and federal laws, rules and regulations and the rules of The NASDAQ Capital Market (the “Exchange”), for the period specified in
the Placement Notice, to sell such Placement Shares up to the amount specified by the Company in, and otherwise in accordance with the terms of such Placement Notice. If acting as agent hereunder, Noble will provide written confirmation to the
Company (including by email correspondence to each of the individuals of the Company set forth on Schedule 2, if receipt of such correspondence is actually acknowledged by any of the individuals to whom
the notice is sent, other than via auto-reply) no later than the opening of the Trading Day (as defined below) immediately following the Trading Day on which it has made sales of Placement Shares hereunder setting forth the number of Placement
Shares sold on such day, the compensation payable by the Company to Noble pursuant to Section 2 with respect to such sales, and the Net Proceeds (as defined below) payable to the Company, with an itemization of the
deductions made by Noble (as set forth in Section 5(a)) from the gross proceeds that it receives from such sales. Subject to the terms of the Placement Notice, Noble may sell Placement Shares by any method permitted by law
deemed to be an “at the market” offering as defined in Rule 415 under the Securities Act, including without limitation sales made directly on the Exchange, on any other existing trading market for the Common Stock or to or through a market
maker or through an electronic communications network. If expressly authorized by the Company in a Placement Notice, Noble may also sell Placement Shares in privately negotiated transactions. Except as contemplated by Section 7(z), Noble shall
not purchase Placement Shares for its own account as principal unless expressly authorized to do so by the Company in a Placement Notice. The Company acknowledges and agrees that (i) there can be no assurance that Noble will be
successful in selling Placement Shares, and (ii) Noble will incur no liability or obligation to the Company or any other person or entity if it does not sell Placement Shares for any reason other than a failure by Noble to use its commercially
reasonable efforts consistent with its normal trading and sales practices and applicable law and regulations to sell such Placement Shares as required under this Section 3. For the purposes hereof, “Trading
Day” means any day on which the Company’s Common Stock is purchased and sold on the principal market on which the Common Stock is listed or quoted. 

  
 3 

 (b)    Under no circumstances shall the Company cause or
request the offer or sale of any Placement Shares pursuant to this Agreement (i) if, after giving effect to the sale of such Placement Shares, the aggregate number of Placement Shares sold pursuant to this Agreement would exceed the lesser of
(A) the Maximum Amount, (B) the number or amount of shares of Common Stock then available for offer and sale under the Prospectus and the then currently effective Registration Statement pursuant to which the offering hereunder is being
made and (C) the number or amount authorized from time to time to be issued and sold under this Agreement by the Company’s board of directors, a duly authorized committee thereof or a duly authorized executive committee, and notified to
Noble in writing, or (ii) at a price lower than the minimum price therefor authorized from time to time by the Company’s board of directors, a duly authorized committee thereof or a duly authorized executive committee, and notified to
Noble in writing. Notwithstanding anything to the contrary contained herein, the parties hereto agree that compliance with the limitations set forth in this Section 3(b) on the number or amount of Placement Shares that may
be issued and sold under this Agreement shall be the sole responsibility of the Company, and Noble shall have no obligation in connection with such compliance. 

(c)    During the term of this Agreement, neither Noble nor any of its affiliates or subsidiaries shall
engage in (i) any short sale of any security of the Company or (ii) any sale of any security of the Company that Noble does not own or any sale which is consummated by the delivery of a security of the Company borrowed by, or for the
account of, Noble. During the term of this Agreement and notwithstanding anything to the contrary herein, Noble agrees that in no event will Noble or its affiliates engage in any market making, bidding, stabilization or other trading activity with
regard to the Common Stock or related derivative securities if such activity would be prohibited under Regulation M or other anti-manipulation rules under the Exchange Act. 

4.    Suspension of Sales. 

(a)    The Company or Noble may, upon notice to the other party in writing (including by email
correspondence to each of the individuals of the other party set forth on Schedule 2, if receipt of such correspondence is actually acknowledged by any of the individuals to whom the notice is sent, other than via auto-reply) or by
telephone (confirmed immediately by verifiable facsimile transmission or email correspondence to each of the individuals of the other party set forth on Schedule 2), suspend any sale of Placement Shares for a period of time (a
“Suspension Period”); provided, however, that such suspension shall not affect or impair either party’s obligations with respect to any Placement Shares sold hereunder prior to the receipt of such notice. Each of
the parties agrees that no such notice under this Section 4 shall be effective against the other unless it is made to one of the individuals named on Schedule 2 hereto, as such schedule may be amended from
time to time. During a Suspension Period, the Company shall not issue any Placement Notices and Noble shall not sell any Placement Shares hereunder. The party that issued a suspension notice shall notify the other party in writing of the Trading Day
on which the Suspension Period shall expire not later than twenty-four (24) hours prior to such Trading Day. 

  
 4 

 (b)    Notwithstanding any other provision of this
Agreement, during any period in which the Company is in possession of material non-public information, the Company and Noble agree that (i) no sale of Placement Shares will take place, (ii) the
Company shall not request the sale of any Placement Shares, and (iii) Noble shall not be obligated to sell or offer to sell any Placement Shares. 

(c)    If either Noble or the Company has reason to believe that the exemptive provisions set forth in
Rule 101(c)(1) of Regulation M under the Exchange Act are not satisfied with respect to the Common Stock, it shall promptly notify the other party thereof, and Noble may, at its sole discretion, suspend sales of the Placement Shares under this
Agreement. 
 5.    Settlement. 

(a)    Settlement of Placement Shares. Unless otherwise specified in the applicable Placement
Notice, settlement for sales of Placement Shares will occur on the third (3rd) Trading Day (or such earlier day as is industry practice for
regular-way trading) following the respective Point of Sale (as defined below) (each, a “Settlement Date”). The amount of proceeds to be delivered to the Company on a Settlement Date
against receipt of the Placement Shares sold (the “Net Proceeds”) will be equal to the aggregate sales price received by Noble at which such Placement Shares were sold, after deduction for (i) Noble’s discount,
commission or other compensation for such sales payable by the Company pursuant to Section 2 hereof, (ii) any other amounts due and payable by the Company to Noble hereunder pursuant to
Section 7(k) (Expenses) hereof and (iii) any transaction fees imposed by any governmental or self-regulatory organization in respect of such sales. 

(b)    Delivery of Placement Shares. On or before each Settlement Date, the Company will, or will
cause its transfer agent to, electronically transfer the Placement Shares being sold by crediting Noble’s or its designee’s account (provided Noble shall have given the Company written notice of such designee prior to the Settlement Date)
at The Depository Trust Company through its Deposit and Withdrawal at Custodian System or by such other means of delivery as may be mutually agreed upon by the parties hereto which in all cases shall be freely tradable, transferable, registered
shares in good deliverable form. On each Settlement Date, Noble will deliver the related Net Proceeds in same day funds to an account designated by the Company on, or prior to, the Settlement Date. The Company agrees that if the Company, or its
transfer agent (if applicable), defaults in its obligation to deliver duly authorized Placement Shares on a Settlement Date, the Company agrees that in addition to and in no way limiting the rights and obligations set forth in
Section 9(a) (Indemnification and Contribution) hereto, the Company will (i) hold Noble, its directors, officers, members, partners, employees and agents of Noble, each broker dealer affiliate of Noble, and each
person, if any, who (A) controls Noble within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act or (B) is controlled by or is under common control with Noble (each, a “Noble
Affiliate”), harmless against any loss, claim, damage, or expense (including reasonable legal fees and expenses), as incurred, arising out of or in connection with such default by the Company or its transfer agent (if applicable) and
(ii) pay to Noble any commission, discount, or other compensation to which it would otherwise have been entitled absent such default. 

  
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 6.    Representations and Warranties of the
Company. The Company, on behalf of itself and its subsidiaries, represents and warrants to, and agrees with, Noble that as of each Applicable Time (as defined in Section 22(a)): 

(a)    Compliance with Registration Requirements. The Registration Statement was declared effective
under the Securities Act by the Commission on June 19, 2019, and any post-effective amendment thereto and any Rule 462(b) Registration Statement have also been declared effective by the Commission or became effective upon filing under the
Securities Act. The Company has not received from the Commission any notice pursuant to Rule 401(g)(1) under the Securities Act objecting to the use of the shelf registration statement form. At the time of the initial filing of the Registration
Statement, the Company paid the required Commission filing fees relating to the Placement Shares in accordance with Rules 456(a) and 457(o) under the Securities Act. The Company has complied to the Commission’s satisfaction with all requests of
the Commission for additional or supplemental information. No stop order suspending the effectiveness of the Registration Statement or any Rule 462(b) Registration Statement is in effect and no proceedings for such purpose have been instituted or
are pending or, to the best knowledge of the Company, are contemplated or threatened by the Commission. At the time of (i) the initial filing of the Registration Statement with the Commission and (ii) the most recent amendment thereto for
the purposes of complying with Section 10(a)(3) of the Securities Act (whether such amendment was by post-effective amendment, incorporated report filed pursuant to Section 13 or 15(d) of the Exchange Act or form of prospectus), the
Company met the then applicable requirements for use of Form S-3 under the Securities Act, including compliance with General Instruction I.B.6. of Form S-3. The
Registration Statement and the offer and sale of the Placement Shares as contemplated hereby meet the requirements of Rule 415 under the Securities Act and comply in all material respects with said Rule. The Prospectus Supplement has named
Noble as an agent that the Company has engaged in the section entitled “Plan of Distribution.” The Company was not and is not an “ineligible issuer” as defined in Rule 405 under the Securities Act. 

(b)    No Misstatement or Omission. 

(i)    The Registration Statement and any post-effective amendment thereto, at the time it became or
becomes effective, complied or will comply in all material respects with the Securities Act. The Prospectus, and any amendment or supplement thereto, on the date of such Prospectus or amendment or supplement, complied or will comply in all material
respects with the Securities Act. The Registration Statement and any post-effective amendment thereto, at the time it became or becomes effective, did not and will not contain any untrue statement of a material fact or omit to state a material fact
required to be stated therein or necessary to make the statements therein not misleading. The Prospectus, as amended or supplemented, as of its date, did not and, as of each Point of Sale and each Settlement Date, will not contain any untrue
statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. The representations and warranties set forth in the two
immediately preceding sentences do not apply to statements in or omissions from the Registration Statement or any post-effective amendment thereto, or the Prospectus, or any amendments or supplements thereto, made in reliance upon and in conformity
with information relating to Noble furnished to the Company in writing by Noble expressly for use therein. “Point of Sale” means, for a Placement, the time at which an acquiror of Placement Shares entered into a contract,
binding upon such acquiror, to acquire such Placement Shares. 

  
 6 

 (ii)    The Incorporated Documents and the Incorporated
Information heretofore filed, when they were filed (or, if any amendment with respect to any such document was filed, when such amendment was filed), conformed in all material respects with the requirements of the Exchange Act and the rules and
regulations thereunder, and any further Incorporated Documents and/or Incorporated Information so filed will, when they are filed, conform in all material respects with the requirements of the Exchange Act and the rules and regulations thereunder;
no such Incorporated Document or Incorporated Information when it was filed (or, if an amendment with respect to any such document was filed, when such amendment was filed), contained an 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 not misleading; and no such further Incorporated Document or Incorporated Information, when it is filed, will contain an untrue statement of a material
fact or will omit to state a material fact required to be stated therein or necessary in order to make the statements therein not misleading. 

(iii)    The Prospectus will not, as of its date, on the date hereof, on each Representation Date, as of
each Applicable Time and as of each Settlement Date, contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which
they were made, not misleading; provided that no representation or warranty is made as to information contained in or omitted from the Prospectus in reliance upon and in conformity with written information furnished to the Company through the
Representatives by or on behalf of Noble specifically for inclusion therein. Each Issuer Free Writing Prospectus (including, without limitation, any “road show” (as defined in Rule 433 under the Securities Act) that is a free writing
prospectus under Rule 433 under the Securities Act), did not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances
under which they were made, not misleading. 
 (iv)    Each Issuer Free Writing Prospectus (including,
without limitation, any “road show” (as defined in Rule 433 under the Securities Act) that is a free writing prospectus under Rule 433 under the Securities Act), did not contain an untrue statement of a material fact or omit to state a
material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading. 

(v)    Each Issuer Free Writing Prospectus conformed or will conform in all material respects to the
requirements of the Securities Act on the date of first use, and the Company has complied with all of its prospectus delivery and any filing requirements applicable to such Issuer Free Writing Prospectus pursuant to the Securities Act. The Company
has not made any offer relating to the Securities that would constitute an Issuer Free Writing Prospectus without the prior written consent of the Representatives. The Company has retained in accordance with the Securities Act all Issuer Free
Writing Prospectuses that were not required to be filed pursuant to the Securities Act. The Company has taken all actions necessary so that any road show in connection with the offering of the Securities will not be required to be filed pursuant to
the Securities Act. 

  
 7 

 (c)    Offering Materials Furnished to Noble. The
Company has delivered to Noble one complete copy of the Registration Statement and a copy of each consent and certificate of experts filed as a part thereof, and conformed copies of the Registration Statement (without exhibits) and the Prospectus,
as amended or supplemented, in such quantities and at such places as Noble has reasonably requested. 

(d)    Distribution of Offering Material By the Company. The Company has not distributed and will
not distribute, prior to the completion of Noble’s distribution of the Placement Shares, any offering material in connection with the offering and sale of the Placement Shares other than the Prospectus or the Registration Statement. 

(e)    The Equity Distribution Agreement. This Agreement has been duly authorized, executed and
delivered by the Company, and constitutes a valid, legal, and binding obligation of the Company, enforceable against the Company in accordance with its terms, except as rights to indemnity hereunder may be limited by federal or state securities laws
and except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the rights of creditors generally, and subject to general principles of equity. The Company has full corporate power and
authority to enter into this Agreement and to authorize, issue and sell the Placement Shares as contemplated by this Agreement. This Agreement conforms in all material respects to the descriptions thereof in the Registration Statement and the
Prospectus. 
 (f)    Capitalization. The capitalization of the Company as of June 5, 2019
is as set forth in the Prospectus. All the outstanding shares of Common Stock of the Company have been, on the date hereof, on each Representation Date, as of each Applicable Time and as of each Settlement Date, as the case may be, will be, duly
authorized and validly issued, are fully paid and nonassessable and are free of any preemptive or similar rights, except as set forth in the Registration Statement and the Prospectus; except as described in the Prospectus, the Company is not a party
to or bound by any outstanding options, warrants or similar rights to subscribe for, or contractual obligations to issue, sell, transfer or acquire, any of its capital stock or any securities convertible into or exchangeable for any of such capital
stock. 
 (g)    Authorization of the Placement Shares. The Placement Shares to be sold by Noble,
acting as agent and/or principal for the Company, have been duly authorized and when issued and paid for as contemplated herein will be validly issued, fully paid and non-assessable. The issuance of the
Placement Shares is not subject to the preemptive or other similar rights of any stockholder of the Company. 

  
 8 

 (h)    No Applicable Registration or Other Similar
Rights. There are no persons with registration or other similar rights to have any equity or debt securities registered for sale under the Registration Statement or included in the offering contemplated by this Agreement, except for such rights
as have been duly waived. No person has the right to act as an underwriter or as a financial advisor to the Company in connection with the offer and sale of the Placement Shares hereunder, whether as a result of the filing or effectiveness of the
Registration Statement or the sale of the Placement Shares as contemplated hereby or otherwise. 

(i)    Equity Incentives. With respect to stock options, share awards (including restricted common
stock and restricted stock units), stock appreciation rights, performance awards, annual incentive cash awards and/or other equity-based awards (the “Equity Incentive Awards”) granted pursuant to the stock-based compensation plans
of the Company and its subsidiaries, including without limitation the Company’s 2017 Equity Incentive Plan and 2015 Stock Option Plan (the “Company Stock Plans”), (i) each Equity Incentive Award intended to qualify as an
“incentive stock option” under Section 422 of the Code so qualifies, (ii) each grant of an Equity Incentive Award was duly authorized no later than the date on which the grant of such Equity Incentive Award was by its terms to be
effective (the “Grant Date”) by all necessary corporate action, including, as applicable, approval by the board of directors of the Company (or a duly constituted and authorized committee thereof) and any required stockholder
approval by the necessary number of votes or written consents, and the award agreement governing such grant (if any) was duly executed and delivered by each party thereto, (iii) each such grant was made in accordance with the terms of the
Company Stock Plans, the Exchange Act and all other applicable laws and regulatory rules or requirements, including the rules of the NASDAQ Capital Market and any other exchange on which Company securities are traded, and (iv) each such grant
was properly accounted for in accordance with generally accepted accounting principles in the United States applied on a consistent basis in the financial statements (including the related notes) of the Company and disclosed in the Company’s
filings with the Commission in accordance with the Exchange Act and all other applicable laws. The Company has not knowingly granted, and there is no and has been no policy or practice of the Company of granting, Equity Incentive Awards prior to, or
otherwise coordinating the grant of Equity Incentive Awards with, the release or other public announcement of material information regarding the Company or its subsidiaries or their results of operations or prospects. 

(j)    No Material Adverse Change. Except as otherwise disclosed in the Prospectus, subsequent to
the respective dates as of which information is given in the Prospectus: (i) there has been no material adverse change in the condition (financial or otherwise), assets, rights, operations, business, management or prospects of the Company and
its subsidiaries, considered as one entity (any such change is called a “Material Adverse Change”) or any development involving a prospective material adverse change, which, individually or in the aggregate, has had or would
reasonably be expected to result in a Material Adverse Change; (ii) the Company and its subsidiaries, considered as one entity, have not incurred any material liability or obligation, indirect, direct or contingent, not in the ordinary course
of business nor entered into any material transaction or agreement not in the ordinary course of business; and (iii) there has been no dividend or distribution of any kind declared, paid or made by the Company or, except for regular quarterly
dividends publicly announced by the Company or dividends paid to the Company or other subsidiaries, by any of its subsidiaries on any class of capital stock or repurchase or redemption by the Company or any of its subsidiaries of any class of
capital stock. 

  
 9 

 (k)    Independent Accountants.
Haskell & White, LLP, who have expressed their opinion with respect to the financial statements (which term as used in this Agreement includes the related notes thereto) and supporting schedules filed with the Commission or incorporated by
reference as a part of the Registration Statement and included in the Prospectus, is an independent registered public accounting firm as required by the Securities Act and the Exchange Act. Haskell & White, LLP has not been engaged by the
Company to perform any “prohibited activities” (as defined in Section 10A of the Exchange Act). 

(l)    Preparation of the Financial Statements. The consolidated financial statements of the
Company, together with related notes and schedules as incorporated by reference in the Registration Statement and the Prospectus, present fairly the financial position and the results of operations and cash flows of the Company, at the indicated
dates and for the indicated periods. Such financial statements and related schedules have been prepared in accordance with U.S. generally accepted principles of accounting, consistently applied throughout the periods involved, except as disclosed
therein, and all adjustments necessary for a fair presentation of results for such periods have been made. The summary financial and statistical data included or incorporated by reference in the Registration Statement and the Prospectus present
fairly the information shown therein and such data has been compiled on a basis consistent with the financial statements presented therein and the books and records of the Company. The statistical, industry-related and market-related data included
or incorporated by reference in the Registration Statement and the Prospectus are based on or derived from sources which the Company reasonably and in good faith believes are reliable and accurate, and the Company has obtained the written consent to
the use of such data from such sources to the extent required. The financial data set forth or incorporated in the Prospectus under the caption “Selected Financial Data” fairly present the information set forth therein at the indicated
dates and for the indicated periods on a basis consistent with that of the audited financial statements contained, incorporated or deemed to be incorporated in the Registration Statement. Any pro forma financial statements or data included or
incorporated by reference in the Registration Statement and the Prospectus comply with the requirements of Regulation S-X of the Securities Act, including, without limitation, Article 11 thereof, and the
assumptions used in the preparation of such pro forma financial statements and data are reasonable, the pro forma adjustments used therein are appropriate to give effect to the circumstances referred to therein and the pro forma
adjustments have been properly applied to the historical amounts in the compilation of those statements and data. The other financial data set forth or incorporated by reference in the Registration Statement and the Prospectus is accurately
presented and prepared on a basis consistent with the financial statements and books and records of the Company. The Company and its subsidiaries do not have any material liabilities or obligations, direct or contingent (including any off-balance sheet obligations or any “variable interest entities” as that term is used in Accounting Standards Codification Paragraph 810-10-25-20), not disclosed in the Registration Statement and the Prospectus. All disclosures contained in the Registration Statement or the Prospectus that contain
“non-GAAP financial measures” (as such term is defined by the rules and regulations of the Commission) comply, in all material respects, with Regulation G under the Exchange Act and Item 10 of
Regulation S-K under the Securities Act, to the extent applicable. 

(m)    XBRL. The interactive data in eXtensible Business Reporting Language included or
incorporated by reference in the Registration Statement fairly presents the information called for in all material respects and has been prepared in accordance with the Commission’s rules and guidelines applicable thereto. 

  
 10 

 (n)    Incorporation and Good Standing of the Company
and its Subsidiaries. The Company is a corporation duly incorporated and validly existing under the laws of the State of Delaware and is in good standing under such laws. The Company has requisite corporate power to carry on its business as
described in the Prospectus. The Company is duly qualified to transact business and is in good standing in all jurisdictions in which the conduct of its business requires such qualification; except where the failure to be so qualified or to be in
good standing would not result in a Material Adverse Change. The Company does not own or control, directly or indirectly, any corporation, association or other entity other than the subsidiaries listed on
Schedule 4. Each subsidiary is a corporation duly incorporated and validly existing under the laws of the jurisdiction of its incorporation and is in good standing under such laws. Each of the
subsidiaries has requisite corporate power to carry on its business as described in the Prospectus. Each of the subsidiaries is duly qualified to transact business and is in good standing in all jurisdictions in which the conduct of its business
requires such qualification; except where the failure to be so qualified or to be in good standing would not result in a Material Adverse Change. 

(o)    Capital Stock Matters. The Common Stock conforms in all material respects to the description
thereof contained in the Prospectus. The form of certificates for the Common Stock conforms to the corporate law of the jurisdiction of the Company’s incorporation. All of the issued and outstanding shares of Common Stock have been duly
authorized and validly issued, are fully paid and nonassessable and have been issued in compliance with federal and state securities laws. None of the outstanding shares of Common Stock were issued in violation of any preemptive rights, rights of
first refusal or other similar rights to subscribe for or purchase securities of the Company. There are no authorized or outstanding options, warrants, preemptive rights, rights of first refusal or other rights to purchase, or equity or debt
securities convertible into or exchangeable or exercisable for, any capital stock of the Company or any of its subsidiaries other than those disclosed in the Prospectus or in a document filed as an exhibit to or incorporated by reference into the
Registration Statement. All of the issued and outstanding capital stock of, or other ownership interests in, each subsidiary of the Company has been duly authorized and validly issued, is fully paid and
non-assessable and, except for directors’ qualifying shares, is owned by the Company, directly or through subsidiaries, free and clear of any security interest, mortgage, pledge, lien, encumbrance or
claim. Except as described in the Registration Statement and the Prospectus, none of the Company, nor any of its subsidiaries has outstanding, and on each Representation Date, as of each Applicable Time and as of each Settlement Date, as the case
may be, will have outstanding, any options to purchase, or any warrants to subscribe for, or any securities or obligations convertible into, or any contracts or commitments to issue or sell, any shares of Common Stock or any such warrants or
convertible securities or obligations. No holder of securities of the Company has rights to the registration of any securities of the Company as a result of or in connection with the filing of the Registration Statement or the consummation of the
transactions contemplated hereby that have not been satisfied or heretofore waived in writing. 

  
 11 

(p)    Non-Contravention of Existing Instruments; No Further
Authorizations or Approvals Required. Neither the Company nor any of its subsidiaries is (i) in breach or violation of its certificate or articles of incorporation, charter, bylaws, limited liability company agreement, certificate or
agreement of limited or general partnership, memorandum and articles of association, or other similar organizational documents, as the case may be, of such entity, (ii) in breach of or in default (or, with the giving of notice or lapse of time
or both, would be in default) (“Default”) under any indenture, mortgage, loan or credit agreement, deed of trust, note, contract, franchise, lease or other agreement, obligation, condition, covenant or instrument to which the
Company or any of its subsidiaries is a party or by which it or any of them may be bound or to which any of the property or assets of the Company or any of its subsidiaries is subject (each, an “Existing Instrument”), or
(iii) in violation of any statute, law, rule, regulation, judgment, order or decree of any court, regulatory body, administrative agency, governmental body, arbitrator or other authority having jurisdiction over the Company or any of its
subsidiaries or any of their properties, as applicable, except, with respect to clauses (ii) and (iii) only, for such breaches, violations or Defaults that would not, individually or in the aggregate, result in a Material Adverse Change. The
Company’s execution, delivery and performance of this Agreement and consummation of the transactions contemplated hereby or by the Registration Statement and the Prospectus (including the issuance and sale of the Placement Shares and the use of
the proceeds from the sale of the Placement Shares as described in the Prospectus under the caption “Use of Proceeds”) (i) will not result in any breach or violation of the certificate or articles of incorporation, charter, bylaws, limited
liability company agreement, certificate or agreement of limited or general partnership, memorandum and articles of association, or other similar organizational documents, as the case may be, of the Company or any of its subsidiaries, (ii) will
not conflict with or constitute a breach of, or Default or a Debt Repayment Triggering Event (as defined below) under, or result in the creation or imposition of any lien, charge, claim or encumbrance upon any property or assets of the Company or
any of its subsidiaries pursuant to, or require the consent of any other party to, any Existing Instrument, and (iii) will not result in any violation of any statute, law, rule, regulation, judgment, order or decree applicable to the Company or
any of its subsidiaries of any court, regulatory body, administrative agency, governmental body, arbitrator or other authority having jurisdiction over the Company or any of its subsidiaries or any of its or their properties, as applicable, except,
with respect to clauses (ii) and (iii) only, for such conflicts, breaches, Defaults, Debt Repayment Triggering Events or violations that would not, individually or in the aggregate, result in a Material Adverse Change. As used herein, a
“Debt Repayment Triggering Event” means any event or condition which gives, or with the giving of notice or lapse of time or both would give, the holder of any note, debenture or other evidence of indebtedness (or any person
acting on such holder’s behalf), issued by the Company, the right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its Significant Subsidiaries. Each approval, consent, order,
authorization, designation, declaration or filing by or with any regulatory, administrative or other governmental body necessary in connection with the execution and delivery by the Company of this Agreement and the performance of the Company of the
transactions herein contemplated has been obtained or made and is in full force and effect, except (i) with respect to any Applicable Time at which Noble would not be able to rely on Rule 5110(b)(7)(C)(i) of the Financial Industry Regulatory
Authority, Inc. (“FINRA”), such additional steps as may be required by FINRA or (ii) such additional steps as may be necessary to qualify the Common Stock for sale by Noble under state securities or Blue Sky laws. 

  
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 (q)    Legal Actions or Proceedings. There are no
legal, regulatory, or governmental proceedings pending or, to the knowledge of the Company, threatened, against the Company, its subsidiaries or to which the Company or any of their properties are subject, that are required to be described in the
Registration Statement or the Prospectus (or any amendment or supplement thereto) but are not described as required. Except as described in the Registration Statement and Prospectus, there are no actions, suits, inquiries, proceedings or
investigations by or before any court or governmental or other regulatory or administrative agency or commission pending or, to the knowledge of the Company, threatened, against or involving the Company or its subsidiaries, which might individually
or in the aggregate reasonably be expected to have a Material Adverse Effect or prevent or adversely affect the transactions contemplated by this Agreement, nor to the knowledge of the Company is there any basis for any such action, suit, inquiry,
proceeding or investigation. There are no agreements, contracts, indentures, leases or other instruments that are required to be described in the Registration Statement or the Prospectus (or any amendment or supplement thereto) or to be filed as an
exhibit to the Registration Statement that are not described, filed or incorporated by reference in the Registration Statement and the Prospectus as required by the Securities Act. All such contracts to which the Company, or any of its subsidiaries
is a party have been duly authorized, executed and delivered by the Company, or the applicable subsidiary, constitute valid and binding agreements of the Company, or the applicable subsidiary and are enforceable against the Company, or the
applicable subsidiary in accordance with the terms thereof, except as enforceability thereof may be limited by (i) the application of bankruptcy, reorganization, insolvency and other laws affecting creditors’ rights generally and
(ii) equitable principles being applied at the discretion of a court before which any proceeding may be brought. None of the Company, or the applicable subsidiary has received notice or been made aware that any other party is in breach of or
default to the Company, or the applicable subsidiary under any of such contracts. 
 (r)    Labor
Disputes. There is no labor dispute with the employees of the Company exists or, to the Company’s knowledge, is threatened or imminent, and the Company is not aware of any existing or imminent labor dispute by the employees of any of its
principal suppliers, contractors or customers, that would, individually or in the aggregate, reasonably be expected to result in a Material Adverse Change. None of the employees of the Company or any of its subsidiaries is represented by a union
and, to the knowledge of the Company, no union organizing activities are taking place. Neither the Company nor any of its subsidiaries has violated any federal, state or local law or foreign law relating to the discrimination in hiring, promotion or
pay of employees, nor any applicable wage or hour laws, or the rules and regulations thereunder, or analogous foreign laws and regulations, which might, individually or in the aggregate, result in a Material Adverse Change. 

(s)    Title. Each of the Company and its subsidiaries has good and valid title to all property
(real and personal) described in the Registration Statement and the Prospectus as being owned by it, free and clear of all liens, claims, security interests or other encumbrances except (i) such as are described in the Registration Statement
and the Prospectus or (ii) such as would not, individually or in the aggregate, be materially burdensome to the use of the property or the conduct of the business of the Company or reasonably be expected to have a Material Adverse Effect. All
property (real and personal) held under lease by the Company and its subsidiaries is held by it under valid, subsisting and enforceable leases with only such exceptions as would not, individually or in the aggregate, be materially burdensome to the
use of the property or the conduct of the business of the Company or reasonably be expected to have a Material Adverse Effect. 

  
 13 

 (t)    All Necessary Permits, etc. Each of the
Company and its subsidiaries has all material licenses, certifications, permits, franchises, approvals, clearances and other regulatory authorizations (“Permits”) from governmental authorities as are necessary to
(i) conduct its businesses as currently conducted and (ii) own, lease and operate its properties in the manner described in the Prospectus. There is no claim or proceeding pending or, to the knowledge of the Company, threatened, involving
the status of or sanctions under any of the Permits. Each of the Company and its subsidiaries has fulfilled and performed all of its material obligations with respect to the Permits, and the Company is not aware of the occurrence of any event which
allows, or after notice or lapse of time would allow, the revocation, termination, or other impairment of the rights of the Company or any of its subsidiaries under such Permit. 

(u)    Tax Law Compliance. All United States federal income tax returns of the Company and its
subsidiaries required by law to be filed have been filed or extensions thereof have been requested, and all taxes shown by such returns or otherwise assessed, which are due and payable, have been paid, except assessments that are being contested in
good faith and as to which adequate reserves have been provided. Each of the Company and its subsidiaries has filed all other tax returns that are required to have been filed by it pursuant to applicable foreign, state, provincial, local or other
law except insofar as the failure to file such returns would not result in a Material Adverse Change, and has paid all taxes due pursuant to such returns or pursuant to any assessment received by the Company and its subsidiaries, except for such
taxes, if any, as are being contested in good faith and as to which adequate reserves have been provided and except for such taxes or assessments the nonpayment of which would not, individually or in the aggregate, result in a Material Adverse
Change. The charges, accruals and reserves on the books of the Company and its subsidiaries in respect of any income and corporation tax liability for any years not finally determined are adequate to meet any assessments or re-assessments for additional tax for any years not finally determined, except to the extent of any inadequacy that would not result in a Material Adverse Change. All material taxes which the Company and its
subsidiaries are required by law to withhold or to collect for payment have been duly withheld and collected and have been paid to the appropriate governmental authority or agency or have been accrued, reserved against and entered on the books of
the Company and its subsidiaries. There are no transfer taxes or other similar fees or charges under Federal law or the laws of any state, or any political subdivision thereof, required to be paid in connection with the execution and delivery of
this Agreement or the issuance by the Company or sale by Noble of the Placement Shares, acting as agent and/or principal for the Company. 

(v)    Company Not an “Investment Company”. The Company has been advised of the rules and
requirements under the Investment Company Act of 1940, as amended (the “Investment Company Act”). The Company is not, and after receipt of payment for the Placement Shares will not be, an “investment company” within
the meaning of Investment Company Act and will conduct its business in a manner so that it will not become subject to the Investment Company Act. 

(w)    Insurance. Except as otherwise described in the Prospectus, the Company carries, or is
covered by, insurance in such amounts and covering such risks as is generally considered adequate for the conduct of its business and the value of its properties and as is customary for companies engaged in similar industries. All policies of
insurance insuring the Company or its business, assets, employees, officers and directors are in full force and effect, and the Company is in compliance with the terms of such policies in all material respects. There are no claims by the Company
under any such policy or instrument as to which an insurance company is denying liability or defending under a reservation of rights clause. The Company has no reason to believe that it will not be able (i) to renew its existing insurance
coverage as and when such policies expire or (ii) to obtain comparable coverage from similar institutions as may be necessary or appropriate to conduct its business as now conducted and at a cost that would not result in a Material Adverse
Change. 

  
 14 

 (x)    No Price Stabilization or Manipulation.
Neither the Company, nor any of its subsidiaries, nor any of its or their respective directors, officers or, to the knowledge of the Company, controlling persons has taken, directly or indirectly, any action designed to or that might reasonably be
expected to cause or result in the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Common Stock. 

(y)    Related Party Transactions. There are no business relationships or related-party
transactions involving the Company or any subsidiary or any other person required to be described in the Prospectus which have not been described as required. 

(z)    Exchange Act Compliance. The documents incorporated or deemed to be incorporated by
reference in the Registration Statement, the Prospectus or any amendment or supplement thereto, at the time they were or hereafter are filed with the Commission under the Exchange Act, complied and will comply in all material respects with the
requirements of the Exchange Act, and, when read together with the other information in the Prospectus, at each Point of Sale and each Settlement Date, will not contain an untrue statement of a material fact or omit to state a material fact required
to be stated therein or necessary to make the fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. 

(aa)    Conformity of Issuer Free Writing Prospectus. Each Issuer Free Writing Prospectus conformed
or will conform in all material respects to the requirements of the Securities Act on the date of first use, and the Company has complied or will comply with any filing requirements applicable to such Issuer Free Writing Prospectus pursuant to the
Securities Act. Each Issuer Free Writing Prospectus, as of its issue date and at all subsequent times through the completion of the public offer and sale of the Placement Shares, did not, does not and will not include any information that
conflicted, conflicts or will conflict with the information contained in the Registration Statement or the Prospectus, including any document incorporated by reference therein that has not been superseded or modified. The Company has not made any
offer relating to the Placement Shares that would constitute an Issuer Free Writing Prospectus without the prior written consent of Noble. The Company has retained in accordance with the Securities Act all Issuer Free Writing Prospectuses that were
not required to be filed pursuant to the Securities Act. 
 (x)    Compliance with Environmental
Laws. To its knowledge, the Company is not in violation of any statute, any rule, regulation, decision or order of any governmental agency or body or any court, domestic or foreign, relating to the use, disposal or release of hazardous
chemicals, toxic substances or radioactive and biological materials or relating to the protection or restoration of the environment or human exposure to hazardous chemicals, toxic substances or radioactive and biological materials (collectively,
“Environmental Laws”). The Company neither owns nor, to its knowledge, operates any real property contaminated with any substance that is subject to any Environmental Laws, is not liable for any
off-site disposal or contamination pursuant to any Environmental Laws, nor is it subject to any claim relating to any Environmental Laws, which violation, contamination, liability or claim would individually
or in the aggregate result in a Material Adverse Change; and the Company is not aware of any pending investigation which might lead to such a claim. 

  
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 (y)    Intellectual Property. To the
Company’s knowledge, after reasonable inquiry, all patents and patent applications owned by the Company are owned or co-owned by the Company free and clear of all liens or encumbrances, except as
described in the Prospectus. The Company is not aware of any valid or bona fide basis for a finding that any such patents in their entirety are unpatentable, invalid or unenforceable; and the Company reasonably believes that such patents are valid
and enforceable, except as described in the Prospectus. Except as described in the Prospectus, the Company owns, licenses, or possesses rights to use all patents, patent applications, inventions, copyrights,
know-how (including trade secrets and other unpatented and/or unpatentable proprietary or confidential information, systems or procedures), trademarks, service marks, trade names and other intellectual
property (collectively, “Intellectual Property”) used in, held for use in or necessary for the conduct of the Company’s business as now conducted, and for the manufacture, use and sale of its presently proposed products,
as described in the Prospectus. Except as described in the Prospectus or as would not reasonably be expected, individually or in the aggregate, to materially impair the business currently conducted by the Company, or the manufacture, use, sale,
offer for sale or import of its presently proposed products as described in the Prospectus, there is no pending or threatened, action, suit, proceeding or claim by others (i) that the Company infringes, misappropriates or otherwise violates the
Intellectual Property of others, or (ii) challenging the validity, enforceability, scope or ownership of any Intellectual Property owned by or licensed to the Company or the Company’s rights therein. None of the Intellectual Property used
or held for use by the Company in the conduct of its business as now conducted, or for the manufacture, use and sale of its presently proposed products as described in the Prospectus, has been obtained or is being used by the Company in material
violation of any contractual obligation binding on the Company. To the Company’s knowledge, there are no ongoing infringements, misappropriations or other violations by third parties of any Intellectual Property owned or used by the Company,
except as (i) described in the Prospectus or (ii) would otherwise not materially impair the business currently conducted by the Company or the manufacture, use, sale, offer for sale or import of its presently proposed products as described
in the Prospectus. 
 (z)    IT Systems. The Company has taken reasonable steps in accordance
with normal industry practice to maintain the confidentiality of all Intellectual Property the value of which to the Company is contingent upon maintaining the confidentiality thereof. The Company owns or has a valid right to access and use all
computer systems, networks, hardware, software, databases, websites, and equipment used to process, store, maintain and operate data, information, and functions used in connection with the business of the Company, and their subsidiaries (the
“Company IT Systems”). The Company IT Systems are adequate for, and operate and perform in all material respects as required in connection with, the operation of the business of the Company, as currently conducted, except as
would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. The Company, has implemented commercially reasonable backup, security and disaster recovery technology consistent in all material respects with
applicable regulatory standards and customary industry practices. 

  
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 (aa)    Brokers. Neither the Company nor any of
its subsidiaries is a party to any contract, agreement or understanding with any person (other than as contemplated by this Agreement) that would give rise to a valid claim against the Company or any of its Subsidiaries or Noble for a brokerage
commission, finder’s fee or like payment in connection with the offering and sale of the Placement Shares by Noble under this Agreement. 

(bb)    No Outstanding Loans or Other Indebtedness. There are no outstanding loans, advances
(except normal advances for business expenses in the ordinary course of business) or guarantees of indebtedness by the Company to or for the benefit of any of the officers or directors of the Company or any of their respective family members, except
as disclosed in the Prospectus. The Company has not directly or indirectly extended or maintained credit, arranged for the extension of credit, or renewed an extension of credit, in the form of a personal loan to or for any director or executive
officer of the Company. 
 (cc)    No Reliance. The Company has not relied upon Noble or legal
counsel for Noble for any legal, tax or accounting advice in connection with the offering and sale of the Placement Shares. 

(dd)    Broker-Dealer Status; FINRA Exemption; Public Float Calculation. Neither the Company nor
any of its related entities (i) is required to register as a “broker” or “dealer” in accordance with the provisions of the Exchange Act or (ii) directly or indirectly through one or more intermediaries, controls or is a
“person associated with a member” or “associated person of a member” (within the meaning of Article I of the NASD Manual administered by FINRA). To the Company’s knowledge, there are no affiliations or associations between
any member of FINRA and any of the Company’s officers, directors or 5% or greater security holders, except as set forth in the Registration Statement. (I) All of the information (including, but not limited to, information regarding
affiliations, security ownership and trading activity) provided to Noble or its counsel by the Company, its officers and directors and the holders of any securities (debt or equity) or warrants, options or rights to acquire any securities of the
Company in connection with the filing to be made and other supplemental information to be provided to FINRA pursuant to Rule 5110 of FINRA in connection with the transactions contemplated by this Agreement is true, complete and correct, and
(II) copies of any Company filings required to be filed with FINRA have been filed with the Commission or delivered to Noble for filing with FINRA and (III) FINRA has determined to raise no objections with respect to such filing pursuant
to Rule 5110 of FINRA. As of the close of trading on the Exchange on June 5, 2019, the aggregate market value of the outstanding voting and non-voting common equity (as defined in Rule 405) of the Company
held by persons other than affiliates of the Company (pursuant to Rule 144 of the Securities Act, those that directly, or indirectly through one or more intermediaries, control, or are controlled by, or are under common control with, the Company)
(the “Non-Affiliate Shares”), was approximately $14.5 million (calculated by multiplying (x) the price at which the common equity of the Company was last sold on the Exchange
on June 5, 2019, by (y) the number of Non-Affiliate Shares outstanding on June 5, 2019,). The Company is not a shell company (as defined in Rule 405) and has not been a shell company for at
least 12 calendar months previously and if it has been a shell company at any time previously, has filed current Form 10 information (as defined in Instruction I.B.6. of Form S-3) with the Commission at least
12 calendar months previously reflecting its status as an entity that is not a shell company. 

  
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 (ee)    Compliance with Laws. The Company has not
been advised, and has no reason to believe, that it and each of its subsidiaries are not conducting business in compliance with all applicable laws, rules and regulations of the jurisdictions in which it is conducting business, except where failure
to be so in compliance would not result in a Material Adverse Change. 
 (ff)    Sarbanes–Oxley
Act. There is and has been no failure on the part of the Company or any of the Company’s directors or officers, in their capacities as such, to comply in all material respects with any applicable provision of the Sarbanes-Oxley Act of 2002
and the rules and regulations promulgated in connection therewith (the “Sarbanes-Oxley Act”), including Section 402 related to loans and Sections 302 and 906 related to certifications. 

(gg)    Internal Controls And Procedures. The Company and its subsidiaries maintain systems of
“internal control over financial reporting” (as defined in Rule 13a-15(f) of the Exchange Act) that comply with the requirements of the Exchange Act and have been designed by, or under the
supervision of, their respective principal executive and principal financial officers, or persons performing similar functions, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial
statements for external purposes in accordance with generally accepted accounting principles, including, but not limited to, internal accounting controls sufficient to provide reasonable assurance that: (i) transactions are executed in
accordance with management’s general or specific authorizations, (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain
accountability for assets, (iii) access to assets is permitted only in accordance with management’s general or specific authorizations and (iv) the recorded accountability for assets is compared with existing assets at reasonable
intervals and appropriate action is taken with respect to any differences. The Company’s independent auditors have been advised of (i) all significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which could adversely affect the Company’s ability to record, process, summarize, and report financial data and (ii) any fraud, whether or not material, that involves management or other employees who have a significant
role in the Company’s internal control over financial reporting. Since the date of the most recent evaluation of such controls and procedures, except as described in the Registration Statement and the Prospectus, there have been no significant
changes in internal control over financial reporting or in other factors that could significantly affect internal control over financial reporting, including any corrective actions with regard to significant deficiencies and material weaknesses.

 (hh)    Disclosure Controls And Procedures. The Company and its subsidiaries maintain an
effective system of “disclosure controls and procedures” (as defined in Rule 13a-15(e) of the Exchange Act) that complies with the requirements of the Exchange Act and that has been designed to
provide reasonable assurances that information required to be disclosed by the Company in reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the
Commission’s rules and forms, including controls and procedures designed to ensure that such information is accumulated and communicated to the Company’s management as appropriate to allow timely decisions regarding required disclosure.
The Company and its subsidiaries have carried out evaluations of the effectiveness of their disclosure controls and procedures as required by Rule 13a-15 of the Exchange Act. 

  
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 (ii)    Sarbanes-Oxley Act. The principal
executive officers (or their equivalents) and principal financial officers (or their equivalents) of the Company have made all certifications required by the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”) and any related rules and
regulations promulgated by the Commission of which the Company is required to comply, and the statements contained in each such certification were complete and correct as of the date of their execution. The Company and its subsidiaries are, and the
Company has taken all necessary actions to ensure that the Company’s directors and officers in their capacities as such are, each in compliance in all material respects with all applicable provisions of the Sarbanes-Oxley Act and the rules and
regulations of the Commission and NASDAQ promulgated thereunder. 
 (jj)    5% Owners. Except as
disclosed in the Registration Statement (including the exhibits thereto and the Prospectus, to the knowledge of the Company, there are no affiliations or associations between the Company or any of the Company’s officers, directors or 5% or
greater security holders or any beneficial owner of the Company’s unregistered equity securities that were acquired at any time on or after the 180th day immediately preceding the date the Registration Statement was initially filed with the
Commission. 
 (kk)    Company’s Accounting System. The Company maintains a system of
internal accounting controls sufficient to provide reasonable assurances that (i) transactions are executed in accordance with management’s general or specific authorization; (ii) transactions are recorded as necessary to permit
preparation of financial statements in conformity with generally accepted accounting principles and to maintain accountability for assets; (iii) access to assets is permitted only in accordance with management’s general or specific
authorization; and (iv) the recorded accountability for assets is compared with existing assets at reasonable intervals and appropriate action is taken with respect to any differences. 

(ii)    ERISA. The Company is in compliance in all material respects with all presently applicable
provisions of the Employee Retirement Income Security Act of 1974, as amended, including the regulations and published interpretations thereunder (“ERISA”); no “reportable event” (as defined in ERISA) has occurred
with respect to any “pension plan” (as defined in ERISA) for which the Company would have any liability; the Company has not incurred and does not expect to incur liability under (i) Title IV of ERISA with respect to termination of,
or withdrawal from, any “pension plan” or (ii) Sections 412 or 4971 of the Internal Revenue Code of 1986, as amended, including the regulations and published interpretations thereunder (the “Code”); and each
“pension plan” for which the Company would have any liability that is intended to be qualified under Section 401(a) of the Code is so qualified in all material respects and nothing has occurred, whether by action or by failure to act,
which would cause the loss of such qualification. 

  
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 (jj)    Contracts and Agreements. There are no
contracts, agreements, instruments or other documents that are required to be described in the Registration Statement or the Prospectus or to be filed as exhibits thereto which have not been so described in all material respects and filed as
required by Item 601(b) of Regulation S-K under the Securities Act. The copies of all contracts, agreements, instruments and other documents (including governmental licenses, authorizations, permits, consents
and approvals and all amendments or waivers relating to any of the foregoing) that have been furnished to Noble or its counsel are complete and genuine and include all material collateral and supplemental agreements thereto. All contracts and
agreements between the Company and third parties expressly referenced in the Registration Statement or the Prospectus are legal, valid and binding obligations of the Company, enforceable against the Company in accordance with their respective terms,
except as rights to indemnity thereunder (as applicable) may be limited by federal or state securities laws and except as such enforceability may be limited by bankruptcy, insolvency, reorganization or similar laws affecting the rights of creditors
generally, and subject to general principles of equity. 
 (kk)    Market Data. Nothing has come
to the attention of the Company that has caused the Company to believe that the statistical and market-related data included in the Registration Statement and the Prospectus are not based on or derived from sources that are reliable and accurate in
all material respects. 
 (ll)    Forward Looking Statements. No forward-looking statement
(within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act) contained in the Registration Statement or the Prospectus has been made or reaffirmed without a reasonable basis or has been disclosed other than
in good faith. 
 (mm)    Title to Properties. Except as set forth in the Registration Statement
and the Prospectus, the Company and each of its subsidiaries have good and marketable title to all of the properties and assets reflected as owned in the financial statements referred to in Section 6(j) above (or elsewhere
in the Registration Statement and the Prospectus), in each case free and clear of any security interests, mortgages, liens, encumbrances, equities, claims and other defects, except such as do not materially and adversely affect the value of such
property or assets and do not materially interfere with the use made or proposed to be made of such property by the Company or any subsidiary. The material real property, improvements, equipment and personal property held under lease by the Company
or any of its subsidiaries are held under valid and enforceable leases, with such exceptions as are not material and do not materially interfere with the use made or proposed to be made of such real property, improvements, equipment or personal
property by the Company or such subsidiary. The Company and each of its subsidiaries have such consents, easements, rights-of-way or licenses from any person
(“rights-of-way”) as are necessary to enable the Company and each of its subsidiaries to conduct its business in the manner described in the
Registration Statement and the Prospectus, and except for such rights-of-way the lack of which would not, individually or in the aggregate, result in a Material Adverse
Change. 
 (nn)    No Unlawful Contributions or Other Payments. No payments or inducements have
been made or given, directly or indirectly, to any federal or local official or candidate for, any federal or state office in the United States or foreign offices by the Company or any of its officers or directors, or, to the knowledge of the
Company, by any of its employees or agents or any other person in connection with any opportunity, contract, permit, certificate, consent, order, approval, waiver or other authorization relating to the business of the Company, except for such
payments or inducements as were lawful under applicable laws, rules and regulations. Neither the Company, nor, to the knowledge of the Company, any director, officer, agent, employee or other person associated with or acting on behalf of the
Company, (i) has used any corporate funds for any unlawful contribution, gift, entertainment or other unlawful expense relating to political activity; (ii) made any direct or indirect unlawful payment to any government official or employee
from corporate funds; or (iii) made any bribe, unlawful rebate, payoff, influence payment, kickback or other unlawful payment in connection with the business of the Company. 

  
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 (oo)    Foreign Corrupt Practices Act. None of
the Company, any subsidiary or, to the knowledge of the Company, any director, officer, agent, employee, affiliate or other person acting on behalf of the Company or any of its subsidiaries, is aware of or has taken any action, directly or
indirectly, that would result in a violation by such persons of the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder (collectively, the “FCPA”), including, without limitation, making
use of the mails or any means or instrumentality of interstate commerce corruptly in furtherance of an offer, payment, promise to pay or authorization of the payment of any money, or other property, gift, promise to give, or authorization of the
giving of anything of value to any “foreign official” (as such term is defined in the FCPA) or any foreign political party or official thereof or any candidate for foreign political office, in contravention of the FCPA. The Company and its
subsidiaries have conducted their respective businesses in compliance with the FCPA and have instituted and maintain policies and procedures designed to ensure, and which are reasonably expected to continue to ensure, continued compliance therewith.

 (pp)    Money Laundering Laws. The operations of the Company and its subsidiaries are and have
been conducted at all times in compliance with applicable financial recordkeeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the money laundering statutes of all jurisdictions, the rules
and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, the “Money Laundering Laws”) and no action, suit or proceeding
by or before any court or governmental agency, authority or body or any arbitrator involving the Company or any of its subsidiaries with respect to the Money Laundering Laws is pending or, to the knowledge of the Company, threatened. 

(qq)    OFAC. None of the Company, any subsidiary or, to the knowledge of the Company, any
director, officer, agent, employee, affiliate or person acting on behalf of the Company or any of its subsidiaries is currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury Department
(“OFAC”); and the Company will not directly or indirectly use the proceeds of the offering, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other person or entity, for
the purpose of financing the activities of any person currently subject to any U.S. sanctions administered by OFAC. 

(rr)    Exchange Listing. The Common Stock is currently listed on the Exchange under the trading
symbol “OSS”. Except as disclosed in the Prospectus, the Company has not, in the 12 months preceding the date the first Placement Notice is given hereunder, received notice from the Exchange to the effect that the Company is not in
compliance with the listing or maintenance requirements. Except as disclosed in the Prospectus, the Company has no reason to believe that it will not in the foreseeable future continue to be in compliance with all such listing and maintenance
requirements. 

  
 21 

 (ss)    Margin Rules(tt) . Neither the issuance,
sale and delivery of the Placement Shares nor the application of the proceeds thereof by the Company as described in the Registration Statement and the Prospectus will violate Regulation T, U or X of the Board of Governors of the Federal Reserve
System or any other regulation of such Board of Governors. 
 (uu)    Underwriter Agreements(vv)
.. The Company is not a party to any agreement with an agent or underwriter for any other “at-the-market” or continuous equity transaction or any “equity
line” transaction. Neither the Company, the nor any of its subsidiaries is a party to any contract, agreement or understanding with any person (other than this Agreement) that would give rise to a valid claim against the Company, or any of its
subsidiaries for a brokerage commission, finder’s fee or like payment in connection with the offering and sale of the Securities. 

(vv)    Director Independence. Each of the independent directors (or independent director nominees,
once appointed, if applicable) named in the Registration Statement and Prospectus satisfies the independence standards established by the Exchange and, with respect to members of the Company’s audit committee, the enhanced independence
standards contained in Rule 10A-3(b)(1) promulgated by the Commission under the Exchange Act. 

(ww)    No Integration. Neither the Company nor, to the Company’s knowledge, any of its
affiliates (within the meaning of Securities Act Rule 144) has, prior to the date hereof, made any offer or sale of any securities which could be “integrated” (within the meaning of the Securities Act) with the offer and sale of the
Placement Shares hereunder. 
 (xx)    No Material Defaults. Neither the Company nor any of its
subsidiaries has defaulted on any installment on indebtedness for borrowed money or on any rental on one or more long-term leases, which defaults, individually or in the aggregate, could reasonably be expected to result in a Material Adverse Change.
The Company has not filed a report pursuant to Section 13(a) or 15(d) of the Exchange Act since the filing of its last Annual Report on Form 10-K, indicating that it (i) has failed to pay any
dividend or sinking fund installment on preferred stock or (ii) has defaulted on any installment on indebtedness for borrowed money or on any rental on one or more long-term leases, which defaults, individually or in the aggregate, could
reasonably be expected to result in a Material Adverse Change. 
 Any certificate signed by an officer of the Company and delivered to Noble
or to counsel for Noble pursuant to or in connection with this Agreement shall be deemed to be a representation and warranty by the Company to Noble as to the matters set forth therein. 

The Company acknowledges that Noble and, for purposes of the opinions to be delivered pursuant to Section 7 hereof,
counsel to the Company and counsel to Noble, will rely upon the accuracy and truthfulness of the foregoing representations and hereby consents to such reliance. 

  
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 7.    Covenants of the Company. The Company
covenants and agrees with Noble that: 
 (a)    Registration Statement Amendments. After the date
of this Agreement and during any period in which a Prospectus relating to any Placement Shares is required to be delivered by Noble under the Securities Act (including in circumstances where such requirement may be satisfied pursuant to Rule 153 or
Rule 172 under the Securities Act), (i) the Company will notify Noble promptly of the time when any subsequent amendment to the Registration Statement, other than documents incorporated by reference, has been filed with the Commission and/or has
become effective or any subsequent supplement to the Prospectus has been filed and of any request by the Commission for any amendment or supplement to the Registration Statement or Prospectus or for additional information, (ii) the Company will
prepare and file with the Commission, promptly upon Noble’s request, any amendments or supplements to the Registration Statement or Prospectus that, in Noble’s reasonable opinion, may be necessary or advisable in connection with the
distribution of the Placement Shares by Noble (provided, however, that the failure of Noble to make such request shall not relieve the Company of any obligation or liability hereunder, or affect Noble’s right to rely on the
representations and warranties made by the Company in this Agreement, and provided, further, that the only remedy Noble shall have with respect to the failure to make such filing shall be to cease making sales under this Agreement until such
amendment or supplement is filed); (iii) the Company will not file any amendment or supplement to the Registration Statement or Prospectus, other than documents incorporated by reference, relating to the Placement Shares or a security convertible
into the Placement Shares unless a copy thereof has been submitted to Noble within a reasonable period of time before the filing and Noble has not reasonably objected thereto (provided, however, that the failure of Noble to make such
objection shall not relieve the Company of any obligation or liability hereunder, or affect Noble’s right to rely on the representations and warranties made by the Company in this Agreement, and provided, further, that the only remedy
Noble shall have with respect to the failure by the Company to obtain such consent shall be to cease making sales under this Agreement); (iv) the Company will furnish to Noble at the time of filing thereof a copy of any document that upon filing is
deemed to be incorporated by reference into the Registration Statement or Prospectus, except for those documents available via EDGAR; and (v) the Company will cause each amendment or supplement to the Prospectus, other than documents
incorporated by reference, to be filed with the Commission as required pursuant to the applicable paragraph of Rule 424(b) of the Securities Act (without reliance on Rule 424(b)(8) of the Securities Act) or, in the case of any documents incorporated
by reference, to be filed with the Commission as required pursuant to the Exchange Act, within the time period prescribed. 

(b)    Notice of Commission Stop Orders. The Company will advise Noble, promptly after it receives
notice or obtains knowledge thereof, of the issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement or any notice objecting to, or other order preventing or suspending the use of, the Prospectus, of
the suspension of the qualification of the Placement Shares for offering or sale in any jurisdiction, or of the initiation of any proceeding for any such purpose or any examination pursuant to Section 8(e) of the Securities Act, or if the
Company becomes the subject of a proceeding under Section 8A of the Securities Act in connection with the offering of the Placement Shares; and it will promptly use its commercially reasonable efforts to prevent the issuance of any stop order
or to obtain its withdrawal if such a stop order should be issued. Until such time as any stop order is lifted, Noble shall cease making offers and sales under this Agreement. 

  
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 (c)    Delivery of Prospectus. During any period
in which a Prospectus relating to the Placement Shares is required to be delivered by Noble under the Securities Act with respect to a pending sale of the Placement Shares (including in circumstances where such requirement may be satisfied pursuant
to Rule 153 or Rule 172 under the Securities Act), the Company will comply with all requirements imposed upon it by the Securities Act, as from time to time in force, and to file on or before their respective due dates all reports and any definitive
proxy or information statements required to be filed by the Company with the Commission pursuant to Sections 13(a), 13(c), 14, 15(d) or any other provision of or under the Exchange Act. 

(d)    Continued Compliance with Securities Laws. If at any time when a Prospectus is required by
the Securities Act or the Exchange Act to be delivered in connection with a pending sale of the Placement Securities (including, without limitation, pursuant to Rule 172 under the Securities Act), any event shall occur or condition shall exist
as a result of which it is necessary, in the opinion of counsel for Noble or for the Company, to (i) amend the Registration Statement in order that the Registration Statement will not include an untrue statement of a material fact or omit to
state a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) amend or supplement the Prospectus in order that the Prospectus will not include any untrue statement of a material fact or
omit to state a material fact necessary in order to make the statements therein not misleading in the light of the circumstances existing at the time it is delivered to a purchaser, or (iii) amend the Registration Statement or amend or
supplement the Prospectus in order to comply with the requirements of the Securities Act, the Company will promptly notify Noble to suspend the offering of Placement Shares during such period until the Company has prepared and filed with the
Commission such amendment or supplement as may be necessary to correct such statement or omission or to make the Registration Statement or the Prospectus comply with such requirements, and the Company will furnish to Noble such number of copies of
such amendment or supplement as Noble may reasonably request. If at any time following issuance of an Issuer Free Writing Prospectus there occurred or occurs an event or development as a result of which such Issuer Free Writing Prospectus
conflicted, conflicts or would conflict with the information contained in the Registration Statement or the Prospectus or included, includes or would include an untrue statement of a material fact or omitted, omits or would omit to state a material
fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, prevailing at that subsequent time, not misleading, the Company will promptly notify Noble to suspend the offering of Placement
Securities during such period and the Company will, subject to Section 4 hereof, promptly amend or supplement, at its own expense, such Issuer Free Writing Prospectus to eliminate or correct such conflict, untrue statement or omission. 

  
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 (e)    Blue Sky and Other Qualifications. The
Company will use its commercially reasonable efforts, in cooperation with Noble, to qualify the Placement Shares for offering and sale, or to obtain an exemption for the Securities to be offered and sold, under the applicable securities laws of such
states and other jurisdictions (domestic or foreign) as Noble may designate and to maintain such qualifications and exemptions in effect for so long as required for the distribution of the Placement Shares; provided, however, that the Company shall
not be obligated to file any general consent to service of process or to qualify as a foreign corporation or as a dealer in securities in any jurisdiction in which it is not so qualified or to subject itself to taxation in respect of doing business
in any jurisdiction in which it is not otherwise so subject. In each jurisdiction in which the Placement Shares have been so qualified or exempt, the Company will file such statements and reports as may be required by the laws of such jurisdiction
to continue such qualification or exemption, as the case may be, in effect for so long as required for the distribution of the Placement Shares. 

(f)    Listing of Placement Shares. During any period in which the Prospectus relating to the
Placement Shares is required to be delivered by Noble under the Securities Act with respect to a pending sale of the Placement Shares (including in circumstances where such requirement may be satisfied pursuant to Rule 153 or Rule 172 under the
Securities Act), the Company will use its commercially reasonable efforts to cause the Placement Shares to be listed on the Exchange. 

(g)    Filings with NASDAQ. The Company will timely file with the Exchange all material documents
and notices required by the Exchange of companies that have or will issue securities that are traded on the Exchange. 

(h)    Due Diligence Cooperation. The Company will cooperate with any reasonable due
diligence review conducted by Noble or their agents in connection with the transactions contemplated hereby, including, without limitation, providing information and making available documents and senior officers, during regular business hours and
at the Company’s principal offices, as Noble may reasonably request. 
 (i)    Delivery of
Registration Statement and Prospectus. The Company will furnish to Noble and its counsel (at the expense of the Company) copies of the Registration Statement, the Prospectus (including all documents incorporated by reference therein) and all
amendments and supplements to the Registration Statement or Prospectus that are filed with the Commission during any period in which a Prospectus relating to the Placement Shares is required to be delivered under the Securities Act (including all
documents filed with the Commission during such period that are deemed to be incorporated by reference therein), in each case as soon as reasonably practicable and in such quantities as Noble may from time to time reasonably request and, at
Noble’s request, will also furnish copies of the Prospectus to each exchange or market on which sales of the Placement Shares may be made; provided, however, that the Company shall not be required to furnish any document (other than the
Prospectus) to Noble to the extent such document is available on EDGAR. 
 (j)    Earnings
Statement. The Company will make generally available to its security holders as soon as practicable, but in any event not later than 15 months after the end of the Company’s current fiscal quarter, an earnings statement of the Company and
its subsidiaries (which need not be audited) covering a 12-month period that complies with Section 11(a) and Rule 158 of the Securities Act. The terms “earnings statement” and “make
generally available to its security holders” shall have the meanings set forth in Rule 158 under the Securities Act. 

  
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 (k)    Expenses. The Company, whether or not the
transactions contemplated hereunder are consummated or this Agreement is terminated in accordance with the provisions of Section 11 hereunder, will pay the following expenses all incident to the performance of its
obligations hereunder, including, but not limited to, expenses relating to (i) the preparation, printing and filing of the Registration Statement and each amendment and supplement thereto, of each Prospectus and of each amendment and supplement
thereto, (ii) the preparation, issuance and delivery of the Placement Shares, including any stock or other transfer taxes and any stamp or other duties payable upon the sale, issuance or delivery of the Placement Shares to Noble, (iii) the
fees and disbursements of the counsel, accountants and other advisors to the Company in connection with the transactions contemplated by this Agreement; (iv) the qualification of the Placement Shares under securities laws in accordance with the
provisions of Section 7(f) of this Agreement, including filing fees (provided, however, that any fees or disbursements of counsel for Noble in connection therewith shall be paid by Noble except as set forth in
(ix) below), (v) the printing and delivery to Noble of copies of the Prospectus and any amendments or supplements thereto, and of this Agreement, (vi) the fees and expenses incurred in connection with the listing or qualification of the
Placement Shares for trading on the Exchange, (vii) the fees and expenses of the transfer agent or registrar for the Common Stock; (viii) filing fees and expenses, if any, of the Commission and the FINRA Corporate Financing Department
(including, with respect to any required review by FINRA, the reasonable fees and expenses of Noble’s counsel in an amount not to exceed $10,000) and (ix) the Company shall reimburse Noble for the fees and disbursements of Noble’s
counsel (A) in an amount not to exceed $60,000 prior to the execution of this Agreement and (B) in an amount not to exceed an additional $7,500 at the end of each fiscal quarter during which sales of Placement Shares have been made
pursuant to this Agreement. 
 (l)    Use of Proceeds. The Company will use the Net Proceeds as
described in the Prospectus in the section entitled “Use of Proceeds.” 
 (m)    Notice of
Other Sales. The Company will not, without (A) giving Noble at least one business day’s prior written notice specifying the nature of the proposed sale and the date of such proposed sale and (B) Noble suspending activity under
this program for such period of time as requested by the Company or as deemed appropriate by Noble in light of the proposed sale, (I) offer, pledge, announce the intention to sell, sell, contract to sell, sell any option or contract to
purchase, purchase any option or contract to sell, purchase pursuant to its share repurchase program, grant any option, right or warrant for the sale of, lend or otherwise transfer or dispose of, directly or indirectly, any shares of Common Stock or
securities convertible into or exchangeable or exercisable for or repayable with Common Stock, or file any registration statement under the Securities Act with respect to any of the foregoing (other than a shelf registration under Rule 415
under the Securities Act, a registration statement on Form S-4 or a post-effective amendment to the Registration Statement) or (II) enter into any swap or other agreement or any transaction that transfers
in whole or in part, directly or indirectly, any of the economic consequence of ownership of the Common Stock, or any securities convertible into or exchangeable or exercisable for or repayable with Common Stock, whether any such swap or transaction
described in clause (I) or (II) above is to be settled by delivery of Common Stock or such other securities, in cash or otherwise. The foregoing sentence shall not apply to (w) securities issued pursuant to a registration statement on
Form S-4, (x) the Placement Shares to be offered and sold through Noble pursuant to this Agreement and (y) equity incentive awards approved by the board of directors of the Company or the
compensation committee thereof or the issuance of Common Stock upon exercise thereof. 

  
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 (n)    Change of Circumstances. The Company will,
at any time during a fiscal quarter in which the Company intends to tender a Placement Notice or sell Placement Shares, advise Noble promptly after it shall have received notice or obtained knowledge thereof, of any information or fact that would
alter or affect in any material respect any opinion, certificate, letter or other document provided to Noble pursuant to this Agreement. 

(o)    Required Filings Relating to Placement of Placement Shares. The Company shall set forth in
each Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed by the Company with the Commission in respect of any quarter in which sales of Placement Shares
were made by or through Noble under this Agreement, with regard to the relevant period, the amount of Placement Shares sold to or through Noble, the Net Proceeds to the Company and the compensation payable by the Company to Noble with respect to
such sales of Placement Shares. To the extent that the filing of a prospectus supplement with the Commission with respect to any sales of Placement Shares becomes required under Rule 424(b) under the Securities Act, the Company agrees that, on or
before such dates as the Securities Act shall require, the Company will (i) file a prospectus supplement with the Commission under the applicable paragraph of Rule 424(b) under the Securities Act, which prospectus supplement will set forth,
with regard to the relevant period, the amount of Placement Shares sold to or through Noble, the Net Proceeds to the Company and the compensation payable by the Company to Noble with respect to such Placement Shares, and (ii) deliver such
number of copies of each such prospectus supplement to each exchange or market on which such sales were effected as may be required by the rules or regulations of such exchange or market. The Company shall afford Noble and its counsel with a
reasonable opportunity to review and comment upon, shall consult with Noble and its counsel on the form and substance of, and shall give due consideration to all such comments from Noble or its counsel on, any such filing prior to the issuance,
filing or public disclosure thereof; provided, however, that the Company shall not be required to submit for review (A) any portion of any periodic reports filed with the Commission under the Exchange Act other than the specific disclosure
relating to any sales of Placement Shares and (B) any disclosure contained in periodic reports filed with the Commission under the Exchange Act if it shall have previously provided the same disclosure for review in connection with a previous
filing. 

  
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 (p)    Representation Dates; Certificate. On or
prior to the date the first Placement Notice is given hereunder and each time the Company (i) files the Prospectus relating to the Placement Shares or amends or supplements the Registration Statement or the Prospectus relating to the Placement
Shares (other than (A) a prospectus supplement filed in accordance with Section 7(l) of this Agreement or (B) a supplement or amendment that relates to an offering of securities other than the Placement Shares) by
means of a post-effective amendment, sticker, or supplement but not by means of incorporation of document(s) by reference to the Registration Statement or the Prospectus relating to the Placement Shares; (ii) files an annual report on Form 10-K under the Exchange Act (including any Form 10-K/A containing amended financial information or a material amendment to the previously filed Form 10-K); (iii) files a quarterly report on Form 10-Q under the Exchange Act; (iv) files a report on Form 8-K containing amended
financial information (other than an earnings release, to “furnish” information pursuant to Items 2.02 or 7.01 of Form 8-K or to provide disclosure pursuant to Item 8.01 of Form 8-K relating to the reclassification of certain properties as discontinued operations in accordance with Statement of Financial Accounting Standards No. 144) under the Exchange Act; or (v) files a Form 8-K under the Exchange Act for any other purpose (other than to “furnish” information pursuant to Items 2.02 or 7.01 of revised Form 8-K) (each date of filing of one
or more of the documents referred to in clauses (i) through (v) shall be a “Representation Date”), the Company shall furnish Noble within three (3) Trading Days after each Representation Date (but in the case of
clause (v) above, only if Noble reasonably determines that the information contained in such Form 8-K is material) with a certificate, in the form attached hereto as Exhibit 7(m). The requirement
to provide a certificate under this Section 7(p) shall be waived for any Representation Date occurring at a time at which no Placement Notice is pending, which waiver shall continue until the earlier to occur of the date
the Company delivers a Placement Notice hereunder (which for such calendar quarter shall be considered a Representation Date) and the next occurring Representation Date; provided, however, that such waiver shall not apply for any
Representation Date on which the Company files its annual report on Form 10-K. Notwithstanding the foregoing, if the Company subsequently decides to sell Placement Shares following a Representation Date when
the Company relied on such waiver and did not provide Noble with a certificate under this Section 7(p), then before the Company delivers the Placement Notice or Noble sells any Placement Shares, the Company shall provide
Noble with a certificate, in the form attached hereto as Exhibit 7(p), dated the date of the Placement Notice. 

(q)    Legal Opinion. On or prior to the date the first Placement Notice is given hereunder, the
Company shall cause to be furnished to Noble the written opinions and negative assurance of Procopio, Cory, Hargreaves & Savitch LLP, as issuer’s counsel to the Company, or other counsel reasonably satisfactory to Noble
(“Company Counsel”), substantially in the forms previously agreed between the Company and Noble. Thereafter, within three (3) Trading Days after each Representation Date with respect to which the Company is obligated to
deliver a certificate pursuant to Section 7(p) for which no waiver is applicable pursuant to Section 7(p), and not more than once per calendar quarter, the Company shall cause to be furnished to
Noble the written opinions and negative assurance of Company Counsel substantially in the form previously agreed between the Company and Noble, modified, as necessary, to relate to the Registration Statement and the Prospectus as then amended or
supplemented; provided, however, that if Company Counsel has previously furnished to Noble such written opinions and negative assurance substantially in the form previously agreed between the Company and Noble, Company Counsel may, in respect
of any future Representation Date, furnish Noble with a letter (a “Reliance Letter”) in lieu of such opinions and negative assurance to the effect that Noble may rely on the prior opinions and negative assurance of Company
Counsel delivered pursuant to this Section 7(q) to the same extent as if it were dated the date of such Reliance Letter (except that statements in such prior opinion shall be deemed to relate to the Registration Statement
and the Prospectus as amended or supplemented to the date of such Reliance Letter). 

  
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 (r)    Comfort Letter. On or prior to the date
the first Placement Notice is given hereunder and within three (3) Trading Days after each subsequent Representation Date with respect to which the Company is obligated to deliver a certificate pursuant to Section 7(p)
for which no waiver is applicable pursuant to Section 7(p), the Company shall cause its independent accountants to furnish Noble letters (the “Comfort Letters”), dated the date that the Comfort
Letter is delivered, in form and substance satisfactory to Noble, (i) confirming that they are an independent registered public accounting firm within the meaning of the Securities Act, the Exchange Act and the rules and regulations of the
PCAOB and are in compliance with the applicable requirements relating to the qualification of accountants under Rule 2-01 of Regulation S-X of the Commission,
(ii) stating, as of such date, the conclusions and findings of such firm with respect to the financial information and other matters ordinarily covered by accountants’ “comfort letters” to Noble in connection with registered
public offerings (the first such letter, the “Initial Comfort Letter”) and (iii) updating the Initial Comfort Letter with any information that would have been included in the Initial Comfort Letter had it been given on
such date and modified as necessary to relate to the Registration Statement and the Prospectus, as amended and supplemented to the date of such letter. 

(s)    Market Activities. The Company will not, directly or indirectly, (i) take any action
designed to cause or result in, or that constitutes or might reasonably be expected to constitute, the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Common Stock or (ii) sell,
bid for, or purchase the Placement Shares to be issued and sold pursuant to this Agreement, or pay anyone any compensation for soliciting purchases of the Placement Shares other than Noble; provided, however, that the Company may bid for and
purchase shares of its Common Stock in accordance with Rule 10b-18 under the Exchange Act. 

(t)    Insurance. The Company and its subsidiaries shall maintain, or caused to be maintained,
insurance in such amounts and covering such risks as is reasonable and customary for the business in which it is engaged. 

(u)    Compliance with Laws. The Company and each of its subsidiaries shall maintain, or cause to
be maintained, all material environmental permits, licenses and other authorizations required by federal, state and local law in order to conduct their businesses as described in the Prospectus, and the Company and each of its subsidiaries shall
conduct their businesses, or cause their businesses to be conducted, in substantial compliance with such permits, licenses and authorizations and with applicable environmental laws, except where the failure to maintain or be in compliance with such
permits, licenses and authorizations could not reasonably be expected to result in a Material Adverse Change. 

(v)    Investment Company Act. The Company will conduct its affairs in such a manner so as to
reasonably ensure that neither it nor its subsidiaries is or, after giving effect to the offering and sale of the Placement Shares and the application of proceeds therefrom as described in the Prospectus, will be, an “investment company”
within the meaning of such term under the Investment Company Act. 
 (w)    Securities Act and
Exchange Act. The Company will use its best efforts to comply with all requirements imposed upon it by the Securities Act and the Exchange Act as from time to time in force, so far as necessary to permit the continuance of sales of, or dealings
in, the Placement Shares as contemplated by the provisions hereof and the Prospectus. 
 (x)    No
Offer to Sell. Other than the Prospectus and an Issuer Free Writing Prospectus approved in advance by the Company and Noble in its capacity as principal or agent hereunder, neither Noble nor the Company (including its agents and representatives,
other than Noble in its capacity as such) will make, use, prepare, authorize, approve or refer to any written communication (as defined in Rule 405 under the Securities Act), required to be filed with the Commission, that constitutes an offer to
sell or solicitation of an offer to buy Placement Shares hereunder. 
 (y)    Sarbanes-Oxley Act.
The Company and its subsidiaries will use their best efforts to comply with all effective applicable provisions of the Sarbanes-Oxley Act. 

  
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 (z)    New Registration Statement(aa) . If
immediately prior to the third anniversary of the initial effective date of the Registration Statement, any of the Placement Shares remain unsold, the sale of the Placement Shares under this Agreement shall automatically be suspended unless and
until the Company files, if it has not already done so, a new shelf registration statement relating to the Placement Shares and such new registration statement is declared effective by the Commission. References herein to the Registration Statement
shall include such new shelf registration statement. If any such new shelf registration statement becomes effective prior to the termination date of this Agreement, the Company agrees to notify Noble of such effective date. 

(x)    Transfer Agent. The Company shall maintain, at its sole expense, a registrar and transfer
agent for the Common Stock. 
 (y)    Research Analyst Independence. The Company acknowledges and
agrees that Noble’s research analysts and research department are required to be independent from its investment banking division and are subject to certain regulations and internal policies, and that such Noble’s research analysts may
hold views and make statements or investment recommendations and/or publish research reports with respect to the Company and/or the offering contemplated hereby that differ from the views of personnel in its respective investment banking division.
The Company hereby waives and releases, to the fullest extent permitted by law, any claims that the Company may have against Noble with respect to any conflict of interest that may arise from the fact that the views expressed by its independent
research analysts and research department may be different from or inconsistent with the views or advice communicated to the Company by personnel in its investment banking division. 

(z)    Noble as Market Maker. The Company acknowledges and agrees that Noble is a full service
securities firm and, as such, from time to time it and one or more of its affiliates may make markets in the Common Stock or other securities of the Company in connection with which it may purchase and sell shares of Common Stock or other securities
of the Company for its own account and for the account of its clients while this Agreement is in effect, including, without limitation, at the same time any Placement Notice is in effect or any sales of Placement Shares occur pursuant to this
Agreement. 
 8.    Conditions to Noble’s Obligations. The obligations of Noble hereunder
with respect to a Placement will be subject to the continuing accuracy and completeness of the representations and warranties made by the Company herein, to the due performance by the Company of its obligations hereunder, to the completion by Noble
of a due diligence review satisfactory to Noble in its reasonable judgment, and to the continuing satisfaction (or waiver by Noble in its sole discretion) of the following additional conditions: 

(a)    Registration Statement Effective. The Registration Statement shall be effective and shall be
available for the sale of all Placement Shares contemplated to be issued by any Placement Notice which have not yet been issued and sold pursuant to such Registration Statement. 

  
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 (b)    Securities Act Filings Made. The Company
shall have filed with the Commission the Prospectus Supplement pursuant to Rule 424(b) under the Securities Act not later than the Commission’s close of business on the second Business Day following the date of this Agreement. All other filings
with the Commission required by Rule 424(b) or Rule 433 under the Securities Act to have been filed prior to the issuance of any Placement Notice hereunder shall have been made within the applicable time period prescribed for such filing by Rule
424(b) (without reliance on Rule 424(b)(8) of the Securities Act) or Rule 433, as applicable. 

(c)    No Material Notices. None of the following events shall have occurred and be continuing:
(i) receipt by the Company or any of its subsidiaries of any request for additional information from the Commission or any other federal or state governmental authority during the period of effectiveness of the Registration Statement, the
response to which would require any post-effective amendments or supplements to the Registration Statement or the Prospectus; (ii) the issuance by the Commission or any other federal or state governmental authority of any stop order suspending
the effectiveness of the Registration Statement or the initiation of any proceedings for that purpose; (iii) receipt by the Company of any notification with respect to the suspension of the qualification or exemption from qualification of any
of the Placement Shares for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; (iv) the occurrence of any event that makes any material statement made in the Registration Statement or the Prospectus or
any material document incorporated or deemed to be incorporated therein by reference untrue in any material respect or that requires the making of any changes in the Registration Statement, related Prospectus or such documents so that, in the case
of the Registration Statement, it will not contain any materially untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading and, that in the case
of the Prospectus, it will not contain any materially untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which
they were made, not misleading. 
 (d)    No Misstatement or Material Omission. Noble shall not
have advised the Company that the Registration Statement or Prospectus, or any amendment or supplement thereto, contains an untrue statement of fact that in Noble’s reasonable opinion is material, or omits to state a fact that in Noble’s
reasonable opinion is material and is required to be stated therein or is necessary to make the statements therein not misleading. 

(e)    Material Changes. Except as contemplated in the Prospectus, or disclosed in the
Company’s reports filed with the Commission, there shall not have been any material adverse change in the authorized capital stock of the Company or any Material Adverse Change or any development that could reasonably be expected to result in a
Material Adverse Change, or any downgrading in or withdrawal of the rating assigned to any of the Company’s securities (other than asset backed securities) by any rating organization or a public announcement by any rating organization that it
has under surveillance or review its rating of any of the Company’s securities (other than asset backed securities), the effect of which, in the case of any such action by a rating organization described above, in the reasonable judgment of
Noble (without relieving the Company of any obligation or liability it may otherwise have), is so material as to make it impracticable or inadvisable to proceed with the offering of the Placement Shares on the terms and in the manner contemplated by
this Agreement and the Prospectus. 

  
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 (f)    Company Counsel Legal Opinion. Noble shall
have received the opinions and negative assurances of Company Counsel required to be delivered pursuant Section 7(q) on or before the date on which such delivery of such opinions and negative assurances is required pursuant
to Section 7(q). 
 (g)    Comfort Letter. Noble shall have received
the Comfort Letter required to be delivered pursuant Section 7(r) on or before the date on which such delivery of such Comfort Letter is required pursuant to Section 7(r). 

(h)    Representation Certificate. Noble shall have received the certificate required to be
delivered pursuant to Section 7(p) on or before the date on which delivery of such certificate is required pursuant to Section 7(p). 

(i)    Secretary’s Certificate. On or prior to the date the first Placement Notice is given
hereunder, Noble shall have received a certificate, signed on behalf of the Company by its corporate Secretary, certifying as to (i) the Amended and Restated Certificate of Incorporation of the Company, (ii) the By-laws of the Company, (iii) the resolutions of the Board of Directors of the Company (or a committee thereof) authorizing the execution, delivery and performance of this Agreement and the issuance of the
Placement Shares and (iv) the incumbency of the officers duly authorized to execute this Agreement and the other documents contemplated by this Agreement. 

(j)    No Suspension. Trading in the Common Stock shall not have been suspended on the Exchange and
the Common Stock shall not have been delisted from the Exchange. 
 (k)    Other Materials. On
each date on which the Company is required to deliver a certificate pursuant to Section 7(p), the Company shall have furnished to Noble such appropriate further opinions, certificates, letters and documents as Noble may
have reasonably requested. All such opinions, certificates, letters and other documents shall have been in compliance with the provisions hereof. The Company will furnish Noble with such conformed copies of such opinions, certificates, letters and
other documents as Noble shall have reasonably requested. 
 (l)    Approval for Listing. The
Placement Shares shall either have been (i) approved for listing on the Exchange, subject only to notice of issuance, or (ii) the Company shall have filed an application for listing of the Placement Shares on the Exchange at, or prior to,
the issuance of any Placement Notice. 
 (m)    No Termination Event. There shall not have
occurred any event that would permit Noble to terminate this Agreement pursuant to Section 11(a). 

(n)    FINRA. Noble shall have received a letter from the Corporate Financing Department of FINRA
confirming that such department has determined to raise no objection with respect to the fairness or reasonableness of the terms and arrangements related to the sale of the Placement Shares pursuant to this Agreement. 

  
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 9.    Indemnification and Contribution. 

(a)    Company Indemnification. The Company agrees to indemnify and hold harmless Noble, the
directors, officers, members, partners, employees and agents of Noble, each broker dealer affiliate of Noble, and any other Noble Affiliate, if any, as follows: 

(i)    against any and all loss, liability, claim, damage and expense whatsoever, as incurred, arising out
of any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement (or any amendment thereto), or the omission or alleged omission therefrom of a material fact required to be stated therein or necessary to
make the statements therein not misleading, or arising out of any untrue statement or alleged untrue statement of a material fact included in any Registration Statement, the Base Prospectus, the Prospectus Supplement or the Prospectus or any of the
Incorporated Documents or Incorporated Information, or any amendment or supplement thereto or in any Issuer Free Writing Prospectus or in any application or other document executed by or on behalf of the Company or based on written information
furnished by or on behalf of the Company filed in any jurisdiction in order to qualify the Common Stock under the securities laws thereof or filed with the Commission), or the omission or alleged omission therefrom of a material fact necessary in
order to make the statements therein, in the light of the circumstances under which they were made, not misleading; 

(ii)    against any and all loss, liability, claim, damage and expense whatsoever, as incurred, to the
extent of the aggregate amount paid in settlement of any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or of any claim whatsoever based upon any such untrue statement or omission, or any
such alleged untrue statement or omission; provided that (subject to Section 9(e) below) any such settlement is effected with the written consent of the Company; 

(iii)    against any and all expense whatsoever, as incurred (including the fees and disbursements of one
counsel chosen by Noble) reasonably incurred in investigating, preparing or defending against any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever based upon any such
untrue statement or omission, or any such alleged untrue statement or omission, to the extent that any such expense is not paid under (i) or (ii) above; and 

(iv)    any breach by the Company of any of their respective representations, warranties and agreements
contained in this Agreement; 
 provided, however, that this indemnity agreement shall not apply to any loss,
liability, claim, damage or expense to the extent arising out of any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with written information furnished to the Company by Noble expressly
for use in the Registration Statement (or any amendment thereto), or in any Issuer Free Writing Prospectus or the Prospectus (or any amendment or supplement thereto). 

  
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 (b)    Noble Indemnification. Noble agrees to
indemnify and hold harmless the Company and its directors and each officer of the Company that signed the Registration Statement, and each person, if any, who (i) controls the Company within the meaning of Section 15 of the Securities Act
or Section 20 of the Exchange Act or (ii) is controlled by or is under common control with the Company (each, a “Company Affiliate”) from and against any and all losses, claims, liabilities, expenses and damages
(including, but not limited to, any and all reasonable investigative, legal and other expenses incurred in connection with, and any and all amounts paid in settlement (in accordance with Section 9(c)) of, any action, suit or proceeding between
any of the indemnified parties and any indemnifying parties or between any indemnified party and any third party, or otherwise, or any claim asserted), as and when incurred, to which any such Company Affiliate, may become subject under the
Securities Act, the Exchange Act or other federal or state statutory law or regulation, at common law or otherwise, insofar as such losses, claims, liabilities, expenses or damages arise out of or are based, directly or indirectly, on (x) any
untrue statement or alleged untrue statement of a material fact contained in the Registration Statement, the Base Prospectus, the Prospectus Supplement or the Prospectus or any amendment or supplement thereto, (y) the omission or alleged
omission to state in any such document a material fact required to be stated in it or necessary to make the statements in it not misleading; provided, however, that this indemnity agreement shall apply only to the extent that such loss,
claim, liability, expense or damage is caused directly by an untrue statement or omission made in reliance upon and in strict conformity with written information relating to Noble and furnished to the Company by Noble expressly for inclusion in any
document as described in clause (x) of this Section 9(b). 

  
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 (c)    Procedure. Any party that proposes to
assert the right to be indemnified under this Section 9 will, promptly after receipt of notice of commencement of any action against such party in respect of which a claim is to be made against an indemnifying party or
parties under this Section 9, notify each such indemnifying party of the commencement of such action, enclosing a copy of all papers served, but the omission so to notify such indemnifying party will not relieve the
indemnifying party from (i) any liability that it might have to any indemnified party otherwise than under this Section 9 and (ii) any liability that it may have to any indemnified party under the foregoing
provision of this Section 9 unless, and only to the extent that, such omission results in the forfeiture of substantive rights or defenses by the indemnifying party. If any such action is brought against any indemnified
party and it notifies the indemnifying party of its commencement, the indemnifying party will be entitled to participate in and, to the extent that it elects by delivering written notice to the indemnified party promptly after receiving notice of
the commencement of the action from the indemnified party, jointly with any other indemnifying party similarly notified, to assume the defense of the action, with counsel reasonably satisfactory to the indemnified party, and after notice from the
indemnifying party to the indemnified party of its election to assume the defense, the indemnifying party will not be liable to the indemnified party for any legal or other expenses except as provided below and except for the reasonable costs of
investigation subsequently incurred by the indemnified party in connection with the defense. The indemnified party will have the right to employ its own counsel in any such action, but the fees, expenses and other charges of such counsel will be at
the expense of such indemnified party unless (1) the employment of counsel by the indemnified party has been authorized in writing by the indemnifying party, (2) the indemnified party has reasonably concluded (based on advice of counsel)
that there may be legal defenses available to it or other indemnified parties that are different from or in addition to those available to the indemnifying party, (3) a conflict or potential conflict exists (based on advice of counsel to the
indemnified party) between the indemnified party and the indemnifying party (in which case the indemnifying party will not have the right to direct the defense of such action on behalf of the indemnified party) or (4) the indemnifying party has
not in fact employed counsel to assume the defense of such action within a reasonable time after receiving notice of the commencement of the action, in each of which cases the reasonable fees, disbursements and other charges of counsel will be at
the expense of the indemnifying party or parties. It is understood that the indemnifying party or parties shall not, in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the reasonable fees, disbursements
and other charges of more than one separate firm admitted to practice in such jurisdiction at any one time for all such indemnified party or parties. All such fees, disbursements and other charges will be reimbursed by the indemnifying party
promptly as they are incurred. An indemnifying party will not, in any event, be liable for any settlement of any action or claim effected without its written consent. No indemnifying party shall, without the prior written consent of each indemnified
party, settle or compromise or consent to the entry of any judgment in any pending or threatened claim, action or proceeding relating to the matters contemplated by this Section 9 (whether or not any indemnified party is a
party thereto), unless such settlement, compromise or consent includes an unconditional release of each indemnified party from all liability arising or that may arise out of such claim, action or proceeding. 

  
 35 

 (d)    Contribution. In order to provide for just
and equitable contribution in circumstances in which the indemnification provided for in the foregoing paragraphs of this Section 9 is applicable in accordance with its terms but for any reason is held to be unavailable
from the Company or Noble, the Company and Noble will contribute to the total losses, claims, liabilities, expenses and damages (including any investigative, legal and other expenses reasonably incurred in connection with, and any amount paid in
settlement of, any action, suit or proceeding or any claim asserted, but after deducting any contribution received by the Company from persons other than Noble, such as persons who control the Company within the meaning of the Securities Act,
officers of the Company who signed the Registration Statement and directors of the Company, who also may be liable for contribution) to which the Company and Noble may be subject in such proportion as shall be appropriate to reflect the relative
benefits received by the Company on the one hand and Noble on the other. The relative benefits received by the Company on the one hand and Noble on the other hand shall be deemed to be in the same proportion as the total Net Proceeds from the sale
of the Placement Shares (before deducting expenses) received by the Company bear to the total compensation received by Noble from the sale of Placement Shares on behalf of the Company. If, but only if, the allocation provided by the foregoing
sentence is not permitted by applicable law, the allocation of contribution shall be made in such proportion as is appropriate to reflect not only the relative benefits referred to in the foregoing sentence but also the relative fault of the
Company, on the one hand, and Noble, on the other, with respect to the statements or omission that resulted in such loss, claim, liability, expense or damage, or action in respect thereof, as well as any other relevant equitable considerations with
respect to such offering. Such relative fault shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates to information
supplied by the Company or Noble, the intent of the parties and their relative knowledge, access to information and opportunity to correct or prevent such statement or omission. The Company and Noble agree that it would not be just and equitable if
contributions pursuant to this Section 9(d) were to be determined by pro rata allocation or by any other method of allocation that does not take into account the equitable considerations referred to herein. The amount paid
or payable by an indemnified party as a result of the loss, claim, liability, expense, or damage, or action in respect thereof, referred to above in this Section 9(d) shall be deemed to include, for the purpose of this
Section 9(d), any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim to the extent consistent with
Section 9(c) hereof. Notwithstanding the foregoing provisions of this Section 9(d), Noble shall not be required to contribute any amount in excess of the commissions received by it under this
Agreement and no person found guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) will be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. For
purposes of this Section 9(d), any person who controls a party to this Agreement within the meaning of the Securities Act will have the same rights to contribution as that party (and any officers, directors, members,
partners, employees or agents of Noble and each broker dealer affiliate of Noble will have the same rights to contribution as Noble), and each officer of the Company who signed the Registration Statement and each director of the Company will have
the same rights to contribution as the Company, subject in each case to the provisions hereof. Any party entitled to contribution, promptly after receipt of notice of commencement of any action against such party in respect of which a claim for
contribution may be made under this Section 9(d), will notify any such party or parties from whom contribution may be sought, but the omission to so notify will not relieve that party or parties from whom contribution may
be sought from any other obligation it or they may have under this Section 9(d) except to the extent that the failure to so notify such other party materially prejudiced the substantive rights or defenses of the party from
whom contribution is sought. Except for a settlement entered into pursuant to the last sentence of Section 9(c) hereof, no party will be liable for contribution with respect to any action or claim settled without its
written consent if such consent is required pursuant to Section 9(c) hereof. 

10.    Representations and Agreements to Survive Delivery. The indemnity and contribution
agreements contained in Section 9 of this Agreement and all representations and warranties of the Company herein or in certificates delivered pursuant hereto shall survive for a period of up to twelve (12) months after
the date of this Agreement regardless of (i) any investigation made by or on behalf of Noble, any controlling person of Noble, or the Company (or any of their respective officers, directors, members or controlling persons), (ii) delivery and
acceptance of the Placement Shares and payment therefor or (iii) any termination of this Agreement. 

  
 36 

 11.    Termination. 

(a)    Noble shall have the right by giving notice as hereinafter specified at any time to terminate this
Agreement if (i) any Material Adverse Change, or any development that could reasonably be expected to result in a Material Adverse Change has occurred that, in the reasonable judgment of Noble, may materially impair the ability of Noble to sell
the Placement Shares hereunder, (ii) the Company shall have failed, refused or been unable to perform any agreement on its part to be performed hereunder; provided, however, in the case of any failure of the Company to deliver (or cause
another person to deliver) any certification, opinion, or letter required under Sections 7(p), 7(q), or 7(r), Noble’s right to terminate shall not arise unless such failure to deliver (or cause to be delivered) continues
for more than thirty (30) days from the date such delivery was required, (iii) any other condition of Noble’s obligations hereunder is not fulfilled, or (iv) any suspension or limitation of trading in the Placement Shares or in
securities generally on the Exchange shall have occurred (including automatic halt in trading pursuant to market-decline triggers, other than those in which solely program trading is temporarily halted), or a major disruption of securities
settlements or clearing services in the United States shall have occurred, or minimum prices for trading have been fixed on the Exchange. Any such termination shall be without liability of any party to any other party except that the provisions of
Section 7(g) (Expenses), Section 9 (Indemnification and Contribution), Section 10 (Representations and Agreements to Survive Delivery),
Section 11(f), Section 16 (Applicable Law; Consent to Jurisdiction) and Section 17 (Waiver of Jury Trial) hereof shall remain in full force and effect notwithstanding such
termination. If Noble elects to terminate this Agreement as provided in this Section 11(a), Noble shall provide the required notice as specified in Section 12 (Notices). 

(b)    The Company shall have the right, by giving ten (10) days’ notice as hereinafter
specified in Section 12, to terminate this Agreement in its sole discretion at any time after the date of this Agreement. Any such termination shall be without liability of any party to any other party except that the
provisions of Section 7(g), Section 9, Section 10, Section 11(f), Section 16 and Section 17
hereof shall remain in full force and effect notwithstanding such termination. 
 (c)    Noble shall
have the right, by giving ten (10) days’ notice as hereinafter specified in Section 12, to terminate this Agreement in its sole discretion at any time after the date of this Agreement. Any such termination shall
be without liability of any party to any other party except that the provisions of Section 7(g), Section 9, Section 10, Section 11(f),
Section 16 and Section 17 hereof shall remain in full force and effect notwithstanding such termination. 

(d)    Unless earlier terminated pursuant to this Section 11, this Agreement
shall automatically terminate upon the issuance and sale of all of the Placement Shares to or through Noble on the terms and subject to the conditions set forth herein; provided that the provisions of Section 7(g),
Section 9, Section 10, Section 11(f), Section 16 and Section 17 hereof shall remain in full force and effect
notwithstanding such termination. 
 (e)    This Agreement shall remain in full force and effect unless
terminated pursuant to Sections 11(a), (b), (c) or (d) above or otherwise by mutual agreement of the parties; provided, however, that any such termination by mutual agreement shall in all cases be deemed to
provide that Section 7(g), Section 9, Section 10, Section 11(f), Section 16 and Section 17
shall remain in full force and effect. 
 (f)    Any termination of this Agreement shall be effective on
the date specified in such notice of termination; provided, however, that such termination shall not be effective until the close of business on the date of receipt of such notice by Noble or the Company, as the case may be. If such
termination shall occur prior to the Settlement Date for any sale of Placement Shares, such termination shall not become effective until the close of business on such Settlement Date and such Placement Shares shall settle in accordance with the
provisions of this Agreement. 

  
 37 

 12.    Notices. All notices or other
communications required or permitted to be given by any party to any other party pursuant to the terms of this Agreement shall be in writing, unless otherwise specified, and if sent to Noble, shall be delivered to: 

Noble Capital Markets, Inc. 

160 Federal Street, 21st Floor 

Boston, MA 02110 

Attention: Richard H. Giles 

Email: rgiles@noblecapitalmarkets.com 

with a copy (which shall not constitute notice) to: 

Greenberg Traurig, PA 

5100 Town Center Circle, Suite 400 

Boca Raton, FL 33486 

Attention: Bruce C. Rosetto, Esq. 

Email: Rosettob@gtlaw.com 

Phone: (561) 955-7625 

and if to the Company, shall be delivered to: 

One Stop Systems, Inc. 

2235 Enterprise Street, Suite 110 

Escondido, CA 92029 

Attention: John W. Morrison 

Email: jmorrison@onestopsystems.com 

with a copy (which shall not constitute notice) to: 

Procopio, Cory, Hargreaves & Savitch LLP 

12544 High Bluff Drive, Suite 400 

San Diego, California 92130 

Attention: Dennis J. Doucette, Esq. & 

                 
Christopher L. Tinen, Esq. 
 Email: dennis.doucette@procopio.com 

Email: christopher.tinen@procopio.com 

Each party may change such address for notices by sending to the other party to this Agreement written notice of a new address
for such purpose. Each such notice or other communication shall be deemed given (i) when delivered personally or by verifiable facsimile transmission (with an original to follow) on or before 4:30 p.m., New York City time, on a Business Day or,
if such day is not a Business Day, on the next succeeding Business Day, (ii) on the next Business Day after timely delivery to a nationally-recognized overnight courier and (iii) on the Business Day actually received if deposited in the
U.S. mail (certified or registered mail, return receipt requested, postage prepaid). For purposes of this Agreement, “Business Day” shall mean any day on which the Exchange and commercial banks in the City of New York are
open for business. 

  
 38 

 An electronic communication (“Electronic Notice”)
shall be deemed written notice for purposes of this Section 12 if sent to the electronic mail address specified by the receiving party under separate cover. Electronic Notice shall be deemed received at the time the party
sending Electronic Notice receives confirmation of receipt by the receiving party (other than pursuant to auto-reply). Any party receiving Electronic Notice may request and shall be entitled to receive the notice on paper, in a nonelectronic form
(“Nonelectronic Notice”) which shall be sent to the requesting party within ten (10) days of receipt of the written request for Nonelectronic Notice. 

13.    Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the
Company and Noble and their respective successors and permitted assigns and, as to Sections 5(b) and 9, the other indemnified parties specified therein. References to any of the parties contained in this Agreement shall be deemed to
include the successors and permitted assigns of such party. Nothing in this Agreement, express or implied, is intended to confer upon any other person any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as
expressly provided in this Agreement. Neither party may assign its rights or obligations under this Agreement without the prior written consent of the other party; provided, however, that Noble may assign its rights and obligations hereunder
to an affiliate of Noble without obtaining the Company’s consent. 
 14.    Adjustments for
Share Splits. The parties acknowledge and agree that all share-related numbers contained in this Agreement shall be adjusted to take into account any share split, share dividend or similar event effected with respect to the Common Stock. 

15.    Entire Agreement; Amendment; Severability. This Agreement (including all schedules and
exhibits attached hereto and Placement Notices issued pursuant hereto) and any other writing entered into by the parties relating to this Agreement constitutes the entire agreement and supersedes all other prior and contemporaneous agreements and
undertakings, both written and oral, among the parties hereto with regard to the subject matter hereof. Neither this Agreement nor any term hereof may be amended except pursuant to a written instrument executed by the Company and Noble. In the event
that any one or more of the provisions contained herein, or the application thereof in any circumstance, is held invalid, illegal or unenforceable as written by a court of competent jurisdiction, then such provision shall be given full force and
effect to the fullest possible extent that it is valid, legal and enforceable, and the remainder of the terms and provisions herein shall be construed as if such invalid, illegal or unenforceable term or provision was not contained herein, but only
to the extent that giving effect to such provision and the remainder of the terms and provisions hereof shall be in accordance with the intent of the parties as reflected in this Agreement. 

  
 39 

 16.    Applicable Law; Consent to Jurisdiction.
This Agreement shall be governed by, and construed in accordance with, the internal laws of the State of Delaware without regard to the principles of conflicts of laws. Each party hereby irrevocably submits to the
non-exclusive jurisdiction of the state and federal courts sitting in New Castle County, Delaware, for the adjudication of any dispute hereunder or in connection with any transaction contemplated hereby, and
hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is brought in an inconvenient forum or
that the venue of such suit, action or proceeding is improper. Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof (certified or
registered mail, return receipt requested) to such party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained
herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. 

17.    Waiver of Jury Trial. The Company and Noble each hereby irrevocably waives any right it may
have to a trial by jury in respect of any claim based upon or arising out of this Agreement or any transaction contemplated hereby. 

18.    Absence of Fiduciary Relationship. The Company acknowledges and agrees that: 

(a)    Noble is acting solely as agent in connection with the sale of the Placement Shares contemplated by
this Agreement and the process leading to such transactions, and no fiduciary or advisory relationship between the Company or any of its respective affiliates, stockholders (or other equity holders), creditors or employees or any other party, on the
one hand, and Noble, on the other hand, has been or will be created in respect of any of the transactions contemplated by this Agreement, irrespective of whether Noble has advised or is advising the Company on other matters, and Noble has no
obligation to the Company with respect to the transactions contemplated by this Agreement, except the obligations expressly set forth in this Agreement; 

(b)    the Company is capable of evaluating and understanding and understands and accepts the terms, risks
and conditions of the transactions contemplated by this Agreement; 
 (c)    Noble has not provided any
legal, accounting, regulatory or tax advice with respect to the transactions contemplated by this Agreement, and the Company has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate; 

(d)    the Company has been advised and is aware that Noble and its affiliates are engaged in a broad
range of transactions which may involve interests that differ from those of the Company and that Noble has no obligation to disclose such interests and transactions to the Company by virtue of any fiduciary, advisory or agency relationship; and 

(e)    the Company waives, to the fullest extent permitted by law, any claims it may have against Noble,
for breach of fiduciary duty or alleged breach of fiduciary duty and agrees that Noble shall have no liability (whether direct or indirect, in contract, tort or otherwise) to the Company in respect of such a fiduciary claim or to any person
asserting a fiduciary duty claim on behalf of or in right of the Company, including stockholders, partners, employees or creditors of the Company. 

19.    Use of Information. Noble may not provide any information gained in connection with this
Agreement and the transactions contemplated by this Agreement, including due diligence, to any third party other than its legal counsel advising it on this Agreement unless expressly approved by the Company in writing. 

  
 40 

 20.    Counterparts. This Agreement may be
executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Delivery of an executed Agreement by one party to the other may be made by facsimile
transmission. 
 21.    Effect of Headings; Knowledge of the Company22. . The section and Exhibit
headings herein are for convenience only and shall not affect the construction hereof. All references in this Agreement to the “knowledge of the Company” or the “Company’s knowledge” or similar qualifiers shall mean the
actual knowledge of the directors and officers of the Company, after due inquiry. 

22.    Definitions. As used in this Agreement, the following term has the meaning set forth below:

 (a)    “Applicable Time” means the date of this Agreement, each Representation Date,
each date on which a Placement Notice is given, and each Point of Sale. 
 (b)    “Representation
Date” means the date of this Agreement, each time Securities are delivered to Noble as principal on a Settlement Date. 

[Remainder of Page Intentionally Blank] 

  
 41 

 If the foregoing correctly sets forth the understanding between the Company
and Noble, please so indicate in the space provided below for that purpose, whereupon this letter shall constitute a binding agreement between the Company and Noble. 

 

			
	Very truly yours,
	
	One Stop Systems, Inc.
		
	By:	 	/s/ Steve Cooper
		 	Name: Steve Cooper
		 	Title: Chief Executive Officer
	
	Accepted as of the date first-above written:
	
	Noble Capital Markets, Inc.
		
	By:	 	/s/ Richard H. Giles
		 	Name: Richard H. Giles
		 	Title: Managing Director

 SCHEDULE 1 

FORM OF PLACEMENT NOTICE 
  

	From:	 One Stop Systems, Inc. 

 

	To:	 Noble Capital Markets 

Attention: Richard H. Giles 
  

	Subject:	 At-The-Market
Offering—Placement Notice 

 Gentlemen: 

Pursuant to the terms and subject to the conditions contained in the Equity Distribution Agreement between One Stop Systems, Inc. a Delaware
corporation (the “Company”), and Noble Capital Markets, Inc., a Florida corporation (“Noble”) dated June 26, 2019 (the “Agreement”), I hereby request on behalf of the Company that Noble sell up
to [___] shares of the Company’s common stock, par value $0.0001 per share, at a minimum market price of $[_______] per share, during the period beginning [MONTH/DAY/TIME] and ending [MONTH/DAY/TIME]. 

 SCHEDULE 2 

Notice Parties 
 One Stop
Systems, Inc. 
 Steve Cooper,
CEO                 scooper@onestopsystems.com 

John W. Morrison, Jr., CFO    jmorrison@onestopsystems.com 

Noble Capital Markets, Inc. 

Richard H. Giles        Rgiles@noblefcm.com 

 SCHEDULE 3 

Compensation 
 The
Company shall pay Noble in cash, upon each sale of Placement Shares pursuant to this Agreement, an amount equal to 3% of the gross proceeds from each sale of Placement Shares, except with regard to investor “Bard Associates” which will
have a commission rate of 1.5% of the gross proceeds from the sale of such Placement Shares. 

 SCHEDULE 4 

Schedule Of Subsidiaries 
  

			
	 Name of Subsidiary
	  	 Jurisdiction of Organization

		
	 One Stop Systems, GmbH
	  	 Germany

		
	 Bressner Technology GmbH

(wholly-owned subsidiary of One Stop Systems, GmbH)
	  	 Germany

		
	 Concept Development, LLC
	  	 California

 EXHIBIT 7(P) 

OFFICER CERTIFICATE 
 The
undersigned, the duly qualified and appointed Chief Executive Officer of One Stop Systems, Inc., a Delaware corporation (the “Company”), does hereby certify in such capacity and on behalf of
the Company, pursuant to Section 7(p) of the Equity Distribution Agreement, dated June 26, 2019 (the “Equity Distribution Agreement”), between the Company and Noble, that: 

 

	 	(i)	 the representations and warranties of the Company in Section 6 of the Equity
Distribution Agreement (A) to the extent such representations and warranties are subject to qualifications and exceptions contained therein relating to materiality or Material Adverse Change, are true and correct on and as of the date hereof
with the same force and effect as if expressly made on and as of the date hereof, except for those representations and warranties that speak solely as of a specific date and which were true and correct as of such date, and (B) to the extent
such representations and warranties are not subject to any qualifications or exceptions, are true and correct in all material respects as of the date hereof as if made on and as of the date hereof with the same force and effect as if expressly made
on and as of the date hereof except for those representations and warranties that speak solely as of a specific date and which were true and correct as of such date; and; 

 

	 	(ii)	 the Company has complied with all agreements and satisfied all conditions on its part to be performed or
satisfied pursuant to the Equity Distribution Agreement at or prior to the date hereof; 

  

	 	(iii)	 as of the date hereof, (i) the Registration Statement does not contain any untrue statement of a
material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein not misleading, (ii) the Prospectus does not contain any untrue statement of a material fact or omit 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 and (iii) no event has occurred as a result of which it is necessary to
amend or supplement the Registration Statement or the Prospectus in order to make the statements therein not untrue or misleading for clauses (i) and (ii) above, respectively, to be true and correct; 

 

	 	(iv)	 there has been no Material Adverse Change since the date as of which information is given in the Prospectus,
as amended or supplemented; 

  

	 	(v)	 the Company does not possess any material non-public information;
and 

  

	 	(vi)	 the aggregate offering price of the Placement Shares that may be issued and sold pursuant to the Equity
Distribution Agreement and the maximum number or amount of Placement Shares that may be sold pursuant to the Equity Distribution Agreement have been duly authorized by the Company’s board of directors or a duly authorized committee thereof.

 Terms used herein and not defined herein have the meanings ascribed to them in the Equity Distribution Agreement. 

 

			
		
	By:	 	 
		 	Name: Steve Cooper
		 	Title: Chief Executive Officer

 Date:
                                        

 Form of Initial Opinion of Company Counsel 

 

	 	i.	 The Company is a corporation duly incorporated and in good standing under the laws of the State of Delaware.
The Company has the corporate power to own, lease and operate its properties and conduct its business in all material respects as described under the headings “Item 1 Business” and “Item 2 Properties” in the Company’s Annual
Report on Form 10-K for the year ended December 31, 2018. 

  

	 	ii.	 To the knowledge of such counsel, the Company is duly qualified or registered to transact business in each
jurisdiction set forth on Schedule 1 hereto in which the failure, individually or in the aggregate, to be so qualified could reasonably be expected to have a Material Adverse Effect. To the knowledge of such counsel, other than the Company’s
interests in the Subsidiaries or as disclosed in the Prospectus, the Company does not own, directly or indirectly, any capital stock or other equity securities of any other corporation or any ownership interest in any limited liability company,
partnership, joint venture or other association. 

  

	 	iii.	 The Company has the corporate power to execute and deliver the Agreement and to issue, sell and deliver the
Common Stock as contemplated in the Agreement. The Agreement has been duly authorized, executed and, so far as is known to us, delivered by the Company. 

  

	 	iv.	 The Placement Shares have been duly authorized by all necessary corporate action on the part of the Company
and, when issued, sold and delivered by the Company pursuant to the Agreement against payment therefor, will be validly issued, fully paid and non-assessable and free of any preemptive or other similar rights
arising under the Certificate of Incorporation of the Company, the Bylaws of the Company, the Delaware General Corporation Law (the “DGCL”) or any agreement known to us to which the Company is a party. 

 

	 	v.	 We have reviewed the statements under Item 15 of the Registration Statement and under the captions
“Description of Capital Stock” and “Risk Factors” included or incorporated by reference in the Prospectus and in the Registration Statement under Item 12 and, insofar as such statements constitute summaries of the legal matters,
agreements, documents or proceedings referred to therein, fairly summarize, in all material respects, the matters referred to therein. 

  

	 	vi.	 We have reviewed the statements in each of the Registration Statement and the Prospectus under the caption
“Certain U.S. Federal Tax Considerations” and, insofar as such statements constitute matters of law, summaries of legal matters, or legal conclusions, they have been reviewed by us and fairly present and summarize, in all material
respects, the matters referred to therein. 

	 	vii.	 The Company’s execution, delivery and performance of the Agreement and the consummation of the
transactions contemplated thereby or by the Registration Statement and the Prospectus (a) will not conflict with or violate any of the provisions of the Certificate of Incorporation of the Company or the Bylaws of the Company, (b) will not
result in any violation of the DGCL or any California law or U.S. federal law, rule, regulation, or, to our knowledge, any judgment, order or decree applicable to the Company of any court, regulatory body, administrative agency, governmental body,
arbitrator or other authority having jurisdiction over the Company or any of its properties, and (c) will not conflict with, violate or constitute a breach of, or default, or an event requiring the repayment of debt under, or result in the
creation or imposition of any lien, charge or encumbrance upon any property or assets of the Company pursuant to, or require the consent of any party to, any agreement, lease, contract, indenture, mortgage, deed of trust or other agreement to which
the Company is a party or by which the Company is bound, except with respect to clauses (b) and (c) above, as would not result in a Material Adverse Change and would not adversely affect the consummation of the transactions contemplated by the
Agreement. 

  

	 	viii.	 No consent, approval, authorization or other order of, or registration or filing under the DGCL, or with any
California or U.S. federal court or other governmental or regulatory authority or agency, which is in such counsel’s experience customarily applicable to transactions of the type contemplated by the Agreement, is required for the Company’s
execution, delivery and performance of the Agreement or consummation of the transactions contemplated thereby or by the Registration Statement and the Prospectus, other than such as previously have been obtained or made under the Securities Act of
1933, as amended, or the Securities Exchange Act of 1934, as amended, and such approvals as have been obtained in connection with the listing of the Placement Shares on the Nasdaq Stock Market, or as may be required under the securities or Blue Sky
laws of the various states, as to which such counsel expresses no opinion. 

  

	 	ix.	 The Company is not, and after receipt of payment for the Placement Shares and the application of the
proceeds thereof as contemplated under the caption “Use of Proceeds” in the Registration Statement and the Prospectus will not be, required to register as an “investment company” within the meaning of the Investment Company Act.

  

	 	x.	 The Company’s authorized equity capitalization is as set forth in the Prospectus, and the Placement
Shares will conform in all material respects to the descriptions thereof contained in the Prospectus. 

  

	 	xi.	 To such counsel’s knowledge, after due inquiry, no holders of securities of the Company have the rights
to the registration of such securities under the Registration Statement, except for those which have been effectively waived or are inapplicable to the offering of the Placement Shares. 

 

	 	xii.	 To our knowledge, there are no actions, suits or proceedings or inquiries or investigations, pending or
threatened, against the Company or any of its officers and directors or to which the Company’s assets (excluding the Company’s direct or indirect interests in the Subsidiaries) are subject, at law or in equity, before or by any federal,
state, local or foreign governmental or regulatory commission, board, body, authority, arbitration panel or agency that are required to be described in the Prospectus or the documents incorporated therein by reference but are not so described.

  
 49 

	 	xiii.	 The Placement Shares to be issued and sold by the Company pursuant to the Agreement are duly listed, and
admitted and authorized for trading, subject to official notice of issuance, on the Nasdaq Stock Market. 

  

	 	xiv.	 The Registration Statement was declared effective under the Securities Act by the Commission on ___________.
We have been orally advised by the Commission that no stop order suspending or revoking the effectiveness of the Registration Statement has been issued and, to our knowledge, no proceedings or hearings for that purpose have been instituted or are
pending or threatened by the Commission. 

  

	 	xv.	 Any required filing of each Prospectus relating to the Placement Shares (including the Prospectus
Supplement) pursuant to Rule 424(b) has been made in the manner and within the time period required by Rule 424(b) (without reference to Rule 424(b)(8)), and any required filing of each “issuer free writing prospectus” (as defined in Rule
433) pursuant to Rule 433 has been made in the manner and within the time period required by Rule 433(d). 

 In addition
to the foregoing, such counsel shall also confirm to Noble in a separate letter that: (a) the Registration Statement, at the time it initially became effective, and the Prospectus, as of the date hereof (except that, in each case, such counsel
does not express any belief with respect to financial statements, schedules, notes and other financial or accounting data or statistical data derived therefrom, or information or reports about internal control over financial reporting), appeared or
appears on its face to be appropriately responsive in all material respects to the applicable requirements of the Securities Act, and (b) each of the documents incorporated by reference in the Registration Statement and the Prospectus (except
that, in each case, such counsel does not express any belief with respect to financial statements, schedules, notes and other financial or accounting data or statistical data derived therefrom, or information or reports about internal control over
financial reporting), at the time such document was filed with the Commission, appeared on its face to be appropriately responsive in all material respects to the applicable requirements of the Exchange Act. Such counsel shall also confirm to Noble
in a separate letter that it has participated in conferences with officers and other representatives of the Company, representatives of Noble and its counsel, and representatives of the independent accounting firms of the Company, at which
conferences the contents of the Registration Statement, the Prospectus Supplement and the Prospectus and related matters were discussed and, although such counsel is not passing upon and does not assume any responsibility for the accuracy,
completeness or fairness of the statements contained in the Registration Statement, the Prospectus Supplement and the Prospectus (except as and to the extent set forth in paragraphs (v) and (vi) of the opinions referred to above), on the basis
of the foregoing and the information disclosed to such counsel, but without independent check and verification, and relying as to materiality in part on representations and statements of officers and other representatives of the Company, nothing has
come to such counsel’s attention that has led it to believe that: (i) the Registration Statement, at the time of its most recent effective date, contained any untrue statement of a material fact or omitted to state a material fact required
to be stated therein or necessary to make the statements therein not misleading, and (ii) the Prospectus Supplement and the Prospectus, as of their respective dates and as of the date hereof, contained or contain any untrue statement of a
material fact or omitted or omits to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided, however, that (A) such counsel
does not express any belief with respect to the financial statements, schedules, notes, other financial or accounting data or statistical data derived therefrom, or information or reports about internal control over financial reporting, in the
Registration Statement, the Prospectus Supplement or the Prospectus, (B) such counsel does not express any belief with respect to any statement in a document incorporated by reference in the Registration Statement, the Prospectus Supplement or
the Prospectus, to the extent that, pursuant to Rule 412 under the Securities Act, such statement is deemed modified or superseded in the Registration Statement, the Prospectus Supplement or the Prospectus, as the case may be, at the respective
times as of which the advisements set forth in this paragraph are provided and (C) such counsel does not express any belief with respect to the representations and warranties contained in the exhibits to the Registration Statement or in the
exhibits to the documents incorporated by reference in Registration Statement, the Prospectus Supplement or the Prospectus. 
 * Note:
“Registration Statement” and “Prospectus” will be defined to include documents incorporated by reference therein. 

 Form of IP Opinions of Company Counsel 

 

	 	i.	 The Company and its subsidiaries have issued patents and filed patent applications listed in Schedule A and
B, respectively, attached hereto relating to the intellectual property referenced in the relevant sections of the Registration Statement and Prospectus (the “Documents”), which relate to the Company’s business and about which
information is publicly available, in the jurisdictions identified in Schedules A and B. 

  

	 	ii.	 To our knowledge, there are no actions, suits, claims or proceedings that have been asserted in a court
against the Company or its subsidiaries or threatened against the Company or its subsidiaries alleging infringement of the intellectual property rights of any third party with respect to the intellectual property as specified in the relevant
sections of the Documents or as listed in Schedules A and B. 

  

	 	iii.	 To our knowledge, each named inventor of the patents and patent applications listed in Schedule A and B has
executed an assignment to the Company of all his or her rights in respect of such patent rights. 

  

	 	iv.	 To our knowledge, the Company and its subsidiaries own or possess valid rights to use the intellectual
property listed in Schedules A and B, and each such patent and patent application is subsisting in full force and effect. 

  

	 	v.	 To our knowledge, there are no pending or threatened actions, suits, proceedings, investigations or claims
by others challenging the rights of the Company or any of its subsidiaries or, if the intellectual property is licensed to the Company or any of its subsidiaries, in respect of any third party licensor, with respect to intellectual property as
specified in the relevant sections of the Documents. 

  

	 	vi.	 To our knowledge, the Company and its subsidiaries have not received and, to the extent any intellectual
property is licensed to the Company or any of its subsidiaries, no third party licensor has received any notice of infringement of or conflict with any rights of others with respect to intellectual property as specified in the relevant sections of
the Documents. 

  
 51 

 Such counsel shall also confirm to Noble in a separate letter that it has participated in
conferences with officers and other representatives of the Company, at which conferences the contents of the Registration Statement, the Prospectus Supplement and the Prospectus and related matters were discussed and, although such counsel is not
passing upon and does not assume any responsibility for the accuracy, completeness or fairness of the statements contained in the Registration Statement, the Prospectus Supplement and the Prospectus, on the basis of the foregoing and the information
disclosed to such counsel, but without independent check and verification, and relying as to materiality in part on representations and statements of officers and other representatives of the Company, nothing has come to such counsel’s
attention that has led it to believe that, with respect to disclosures relating to intellectual property matters only: (i) the Registration Statement, at the time of its most recent effective date, contained any untrue statement of a material
fact or omitted to state a material fact required to be stated therein or necessary to make the statements therein not misleading, and (ii) the Prospectus Supplement and the Prospectus, as of their respective dates and as of the date hereof,
contained or contain any untrue statement of a material fact or omitted or omits to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading;
provided, however, that (A) such counsel does not express any belief with respect to the financial statements, schedules, notes, other financial or accounting data or statistical data derived therefrom, or information or reports
about internal control over financial reporting, in the Registration Statement, the Prospectus Supplement or the Prospectus, (B) such counsel does not express any belief with respect to any statement in a document incorporated by reference in
the Registration Statement, the Prospectus Supplement or the Prospectus, to the extent that, pursuant to Rule 412 under the Securities Act, such statement is deemed modified or superseded in the Registration Statement, the Prospectus Supplement or
the Prospectus, as the case may be, at the respective times as of which the advisements set forth in this paragraph are provided and (C) such counsel does not express any belief with respect to the representations and warranties contained in
the exhibits to the Registration Statement or in the exhibits to the documents incorporated by reference in Registration Statement, the Prospectus Supplement or the Prospectus. 

* Note: “Registration Statement” and “Prospectus” will be defined to include documents incorporated by reference therein.

 Form of Subsequent Opinion of Company Counsel 

 

	 	i.	 The Registration Statement was declared effective under the Securities Act by the Commission on ___________.
We have been orally advised by the Commission that no stop order suspending or revoking the effectiveness of the Registration Statement has been issued and, to our knowledge, no proceedings or hearings for that purpose have been instituted or are
pending or threatened by the Commission. 

  

	 	ii.	 Any required filing of each Prospectus relating to the Placement Shares (including the Prospectus
Supplement) pursuant to Rule 424(b) has been made in the manner and within the time period required by Rule 424(b) (without reference to Rule 424(b)(8)), and any required filing of each “issuer free writing prospectus” (as defined in Rule
433) pursuant to Rule 433 has been made in the manner and within the time period required by Rule 433(d). 

In addition to the foregoing, such counsel shall also confirm to Noble in a separate letter that: (a) the Registration
Statement, at the Representation Date, and the Prospectus, as of the date hereof (except that, in each case, such counsel does not express any belief with respect to financial statements, schedules, notes and other financial or accounting data or
statistical data derived therefrom, or information or reports about internal control over financial reporting), appeared or appears on its face to be appropriately responsive in all material respects to the applicable requirements of the Securities
Act, and (b) each of the documents incorporated by reference in the Registration Statement and the Prospectus (except that, in each case, such counsel does not express any belief with respect to financial statements, schedules, notes and other
financial or accounting data or statistical data derived therefrom, or information or reports about internal control over financial reporting), at the time such document was filed with the Commission, appeared on its face to be appropriately
responsive in all material respects to the applicable requirements of the Exchange Act. Such counsel shall also confirm to Noble in a separate letter that it has participated in conferences with officers and other representatives of the Company,
representatives of Noble and its counsel, and representatives of the independent accounting firms of the Company, at which conferences the contents of the Registration Statement, the Prospectus Supplement and the Prospectus and related matters were
discussed and, although such counsel is not passing upon and does not assume any responsibility for the accuracy, completeness or fairness of the statements contained in the Registration Statement, the Prospectus Supplement and the Prospectus, on
the basis of the foregoing and the information disclosed to such counsel, but without independent check and verification, and relying as to materiality in part on representations and statements of officers and other representatives of the Company,
nothing has come to such counsel’s attention that has led it to believe that (i) the Registration Statement, at the time of its most recent effective date, contained any untrue statement of a material fact or omitted to state a material
fact required to be stated therein or necessary to make the statements therein not misleading, and (ii) the Prospectus Supplement and the Prospectus, as of their respective dates and as of the date hereof, contained or contain any untrue
statement of a material fact or omitted or omits to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided, however, that (A) such counsel
does not express any belief with respect to the financial statements, schedules, notes, other financial or accounting data or statistical data derived therefrom, or information or reports about internal control over financial reporting, in the
Registration Statement, the Prospectus Supplement or the Prospectus, (B) such counsel does not express any belief with respect to any statement in a document incorporated by reference in the Registration Statement, the Prospectus Supplement or
the Prospectus, to the extent that, pursuant to Rule 412 under the Securities Act, such statement is deemed modified or superseded in the Registration Statement, the Prospectus Supplement or the Prospectus, as the case may be, at the respective
times as of which the advisements set forth in this paragraph are provided and (C) such counsel does not express any belief with respect to the representations and warranties contained in the exhibits to the Registration Statement or in the
exhibits to the documents incorporated by reference in Registration Statement, the Prospectus Supplement or the Prospectus. 
 * Note:
“Registration Statement” and “Prospectus” will be defined to include documents incorporated by reference therein.

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