Document:

Exhibit 10.7

 

AGREEMENT

 

This
Agreement is made and entered into this _____ day of July, 2019, by and between PURA VIDA HEALTH LLC, a limited liability company
organized under the laws of Oregon and with offices at 331 Dante Court, Holbrook, New York 11741, hereinafter referred to as “PV
Health”, and GOLDEN DEVELOPING SOLUTIONS INC., a Nevada corporation with offices at 4100 E Mississippi Ave, Suite 315, Denver,
Colorado 80246 , hereinafter referred to as “Golden”, PV Health and Golden hereinafter collectively referred to as
the “Parties”.

 

RECITALS

 

WHEREAS
PV Health and Golden are the sole and only members of PURA VIDA VITAMINS LLC, a Nevada limited liability company (“PV Vitamins”),
with each holding a 50% membership interest;

 

WHEREAS
Golden wishes to assign their membership interests in PV Vitamins to PV Health in consideration of the sum of $160,100 as set
forth below;

 

WHEREAS
Golden hereby acknowledges that said $160,100.00 is good and valuable consideration for the assignment of their membership interests
in PV Vitamins.

 

AGREEMENT

 

NOW
THEREFORE, in consideration of the mutual pledges of Good Faith, Warranties of Ready, Willing and Able to Perform and the various
promises, covenants and understandings contained herein, the adequacy of which is hereby acknowledged, the Parties agree as follows:

 

1.
Golden hereby assigns and conveys their full and complete respective interests in PV Vitamins to PV Health, and Golden
hereby acknowledges that said assignment and conveyance is pursuant to and in accordance with Article “IX” of the
Amended and Restated Operating Agreement of Pura Vida Vitamins LLC (“IX. Disposition of Interests”), including,
without limitation, Section 9.1(b) which provides for PV Health’s purchase of Golden’s interests in PV Vitamins,
with the effect that PV Health, after completion of the assignment and conveyance, is the sole member of PV Vitamins, holding
100% of the ownership interests in PV Vitamins. In addition, Golden acknowledges that the conveyance of Golden’s
membership interest is in full satisfaction of the terms of the Parties’ Joint Venture Term Sheet dated August 14,
2018. Golden will cooperate in executing any and all documents required to complete the assignment and conveyance of their
interest in PV Vitamins, including, without limitation, Assignments attached hereto. Upon full execution of this Agreement,
Golden will surrender and deliver to PV Health all property in their possession belonging to, relating to and concerning PV
Vitamins to PV Health, including without limitation company records, financial documents, work papers used to prepare tax
returns, sales records, and all other documents relating to the business of PV Vitamins. Should there be any conflict between
the terms of this Agreement and the terms of the Parties’ Joint Venture Term Sheet dated August 14, 2018, and attached
hereto, then the terms and conditions of this Agreement shall prevail and the Parties each waive any and all rights they had,
have or could have under the terms and conditions of the Amended and Restated Operating Agreement of Pura Vida Vitamins LLC
and the Parties’ Joint Venture Term Sheet dated August 14, 2018, and neither Party will seek to enforce the terms and
conditions of either the Amended and Restated Operating Agreement of Pura Vida Vitamins LLC and the Parties’ Joint
Venture Term Sheet dated August 14, 2018 that may be in conflict with the Agreement or that may interfere with the purposes
of this Agreement in any fashion. Golden hereby acknowledges that it has no claims against PV Health or PV Vitamins and that
the terms and conditions of this Agreement are in full satisfaction of any and all claims that Golden had, has or could have
against PV Health and /or PV Vitamins.

 

    

     

    

 

2.
The $160,100 consideration for Golden’s membership interest shall be paid by PV Health as follows:

 

a. Upon
full execution of this Agreement by all Parties PV Health will deliver to Golden’s attorney, LUCOSKY BROOKMAN LLP, $20,000
as against and credited against the $95,100 Note given to Golden by PV Health pursuant to Section 2.4 of the Parties’ Joint
Venture Term Sheet dated August 14, 2018, said $20,000 to be held in escrow by LUCOSKY BROOKMAN as Escrow Agent until Golden has
fully complied, at the discretion of PV Health, to the terms stated in paragraphs “3”, “4”, “5”
and “6” herein. Upon full compliance Escrow Agent shall release the $20,000 to Golden. For the purpose ONLY of the
release of the $20,000 held in escrow by Escrow Agent, Golden will be deemed to be in full compliance with paragraphs “3”,
“4”, “5” and “6” if Golden can prove that Golden has made a good faith effort to comply with
said terms and has undertaken all reasonable efforts to comply, and is unable to reasonably comply any further with said terms
with any further reasonable effort. Escrow Agent shall be paid a fee of $2,000 for said services as Escrow Agent, with said $2,000
to be paid solely by Golden.

 

b. $65,000
lump sum payment no later than twelve (12) months from the full execution by all Parties of this Agreement;

 

c. The
balance of the $95,100 debt represented by the Note, to wit, $75,100, to be paid monthly beginning on the 15th day
of August, 2019, and continuing on the 15th of every month thereafter for the next 11 months at the rate of $6,602.48
per month, including interest. Interest will accrue on the balance of $75,100 only at the rate of 10% per annum beginning on the
date of the full execution of this Agreement by all Parties, with interest not compounded. There will be NO PREPAYMENT PENALTY
should the balance be paid off prior to the expiration of the 12-month schedule.

 

d. All
payments to Golden under the terms of this Agreement shall be guaranteed by EMERALD ORGANIC PRODUCTS INC.

 

3.
STAVROS TRIANT (“Triant”), the President of Golden, hereby resigns as member of the Board of Managers of PV Vitamins
effective immediately, and Golden hereby waives and surrenders its right to appoint a replacement for Triant under 3.2 of the
Amended and Restated Operating Agreement of Pura Vida Vitamins LLC. Triant will provide a WRITTEN NOTICE of said resignation upon
the full execution of this Agreement.

 

4.
Golden hereby releases any and all claims it had, has or could have to trademarking “Pura Vida Vitamins”,
“Pure Vida” and any reasonable extensions of these two names, as well as any trademarks of “Pura Vida
Vitamins”, “Pure Vida” and any reasonable extensions of these two marks, and Golden agrees to cooperate and
execute any and all documents necessary to facilitate Golden’s surrender and/or claims to any of the names and marks
mentioned and referred to herein, acknowledging that PV Vitamins intends to pursue the trademarking of “Pura
Vida” and “Pura Vida Vitamins”, and Golden agrees not to interfere with said pursuit.

 

    2

     

    

 

5. Golden
will immediately remove from its websites, advertising, marketing platforms and media any reference to “Pura Vida”
and/or “Pura Vida Vitamins”, and will no longer mention same in reference to any business being transacted by Golden.

 

6. Regarding
the June 30, 2019, SEC/OTC Markets public filings/reports being prepared for the benefit of Golden, including, without limitation,
SEC Form 10-Q, Golden hereby agrees to cooperate with PV Health, PV Vitamins, and/or Emerald Organic Products to ensure that Golden’s
public filings/reports are consistent with those of PV Health, PV Vitamins, and/or Emerald Organic Products (solely with regard
to PV Health and PV Vitamins), particularly with regard to the terms and conditions and subject of this Agreement. Golden agrees
to state in said filings/reports that Golden is no longer a part of PV Vitamins and no longer has any interest and/or involvement
in PV Vitamins.

 

7. Golden
will immediately cease and desist in preparing the tax returns for PV Vitamins for the tax year 2018 and any further or past tax
years, with the responsibility for filing said tax returns to be undertaken by PV Health and/or PV Vitamins. Golden will deliver
to PV Health any and all documents in its possession or in possession of its accountants used in and required for the preparation
of said tax returns.

 

8. Except
for the enforcement of the provisions contained within this Agreement, and the terms and conditions stated herein, the Parties
and Triant hereby agree to general releases with regard to each other whereby each Party hereby releases and discharges the other
Party, the other Party’s heirs, executors, administrators, successors and assigns from all actions, causes of action, suits, debts,
dues, sums of money, accounts, reckonings, bonds, bills, specialties, covenants, contracts, controversies, agreements, promises,
variances, trespasses, damages, judgments, extents, executions, claims, and demands whatsoever, in law, admiralty or equity, which
against the other Party the Releasing Party, the Releasing Party’s heirs, executors, administrators, successors and assigns ever
had, now have or hereafter can, shall or may have, for, upon, or by reason of any matter, cause or thing whatsoever from the beginning
of the world to the day of the date of this Stipulation, EXCEPT for any acts and/or conduct of the RELEASED Party the RELEASING
Party is not aware of or could not have been made aware of with reasonable diligence.

 

Taxes

 

NO
PARTY TO THIS AGREEMENT has made any statement, opinion or representation in this Agreement regarding the tax consequences, if
any, of the transaction(s) or further transactions envisioned in this Agreement; it being clearly understood by each Party that
they, individually and corporately, are liable for taxes, imposts, levies, duties or charges that may be applicable or incurred
by them in the execution of this Agreement and each shall hold the other harmless for any such taxes or claims that can or could
be imposed solely upon them.

 

    3

     

    

 

Modification

 

Any
change or modification of this Agreement must be made in writing and executed by ALL PARTIES, as a condition precedent to the
legal adoption and implementation of such change, changes or modifications.

 

Assignment

 

This
Agreement may not be assigned at any time by ANY PARTIES without the express WRITTEN permission of the Party to whom the assignor
is obligated to.

 

Indemnification

 

Each
Party agrees to indemnify and hold harmless the other Party, its officers and directors, employees and its affiliates and their
respective successors and assigns and each other person, if any, who controls any thereof, against any loss, liability, claim,
damage and expense whatsoever, including, but not limited to, any and all expenses whatsoever reasonably incurred in investigating,
preparing or defending against any litigation commenced or threatened or any claim whatsoever, arising out of or based upon any
false representation or warranty or breach of that Party or failure by that Party to comply with any covenant or agreement made
by that Party in this Agreement or in any other document furnished by that Party in connection with this Agreement and the transaction
that is the subject of this Agreement.

 

Default

 

1.
If either Party shall default in the performance of any of the provisions of this Agreement, and if the non-defaulting Party
shall prevail in legal proceedings to enforce the performance by the defaulting Party of such provisions by the defaulting
Party, then the defaulting Party shall pay to the other Party the necessary and reasonable costs, damages and expenses
incurred by the non-defaulting Party, including reasonable attorneys’ fees, in connection with such proceedings. For purposes
of this article, the substantial performance by the defaulting Party of the obligation after notification of a default
pursuant to the Default provision of this Agreement AND institution of litigation by the non-defaulting Party shall be deemed
to be the equivalent of the non-defaulting Party having prevailed in a legal proceeding for purposes of the non-defaulting
Party recovering reasonable and necessary costs and expenses. The Parties agree that prior to seeking enforcement of this
Agreement after default, the Party seeking enforcement will deliver to the defaulting Party a 10-day Notice in writing,
giving said defaulting Party ten days from the date said Notice is delivered to cure the alleged default prior to initiating
any enforcement proceedings. The delivery of said Notice will be pursuant to the Notice provisions of this
Agreement.

 

2. The
provisions of this Default Provision shall be in addition, and without prejudice, to any other rights and remedies to which the
aggrieved Party may be entitled.

 

    4

     

    

 

Notice

 

l.
Notices required by this Agreement to be sent to PV Health shall be sufficient if sent by Golden or its representative, by
registered or certified mail, Priority Mail with Delivery Confirmation or commercial carrier service to: PV Health at 331
Dante Court, Holbrook, New York 11741, or to such other address of which PV Health, by registered or certified mail notice,
shall have advised Golden for the sending of such notice.

 

2. Notices
required by this Agreement to be sent to Golden by PV Health shall be sufficient if sent by PV Health or its representative by
registered or certified mail, Priority Mail with Delivery Confirmation or commercial courier service to: Golden at 4100 E Mississippi
Ave, Suite 315, Denver, Colorado 80246, or to such other address of which Golden, by registered or certified mail notice, shall
have advised PV Health for the sending of such notices.

 

3. Notwithstanding
the foregoing, a written acknowledgment of the receipt of a notice, if signed by the Party to whom the notice is addressed, shall
be sufficient and such notice need not also be sent by registered or certified mail.

 

Law
and Venue

 

In
any action or proceeding relating to this Agreement the choice of Law shall be the laws of the country of the United States as
defined by the laws and practices contemporary in the State of New York, Nassau County. The Parties hereby agree that any action
or proceeding, if any is permitted under the terms of this Agreement, shall be brought in a court of competent jurisdiction in
Nassau County, New York, and each Party hereby consents to said venue.

 

Severability

 

This
Agreement shall be severable. In the event any provision shall be adjudged invalid, illegal or unenforceable this Agreement shall
be construed and interpreted without regard to said invalid, illegal or unenforceable provision.

 

Counterparts

 

This
Agreement may be executed in one or more counterparts, each of which shall have the force and effect at law of an original. Any
copy of this Agreement transmitted by facsimile shall be deemed an Original and bind the signator, provided the facsimile number
of the Principal, Signator or their Attorney is printed on the facsimile copy.

 

Successors
and Assigns

 

This
Agreement shall remain in force and effect until the completion of the proposed transaction(s) and shall be binding upon the
Parties, their Employees, their Heirs, Successors in Title and Assigns, Agents, Principals, Solicitors, Attorneys and all
Associated Parties involved in the transaction(s) that are the subject matter of this Agreement.

 

    5

     

    

 

Entire
Agreement

 

This
Agreement contains the complete understanding of the Parties hereto with respect to the subject matter hereof, and supersedes
all prior understandings and agreements with respect to the contents hereof.

 

Execution

 

All
pages of this Agreement must be initialed by all Parties hereto expressing the Parties’ complete understanding of each provision
of the Agreement. All signatures must either be witnessed or notarized with any witness’s name and address disclosed.

 

Warranty
of Authority

 

The
Signatories to this Agreement warrant that they have personal, corporate and legal authority vested in them personally and by
their corporation/business entity to enter into this Agreement. Further each Signator warrants that there is no known violation
of law by him/her in entering into this Agreement.

 

This
agreement is binding upon PV Health and Golden, their associates, employees, affiliates, agents, representatives, officers, independent
contractors, shareholders, principals, heirs, successors and assigns.

 

By
my signature on the date first above written, I hereby acknowledge that I have read the terms and conditions, covenants and warranties
contained herein and understand both their meaning and the legal consequences and by my signature below hereby consent and bind
myself personally and/or the Corporation/Business entity.

 

PURA
VIDA HEALTH LLC

 

	By:	/s/ IAN PARKER	 	 
	 	IAN PARKER	 	DATE 
	 	Managing Member	 	 

 

GOLDEN
DEVELOPING SOLUTIONS INC.

 

	By:	/s/ STAVROS TRIANT	 	 
	 	STAVROS TRIANT	 	DATE 
	 	President	 	 

 

    6

     

    

 

EMERALD
ORGANIC PRODUCTS, INC., solely with regard to paragraph 2(d)

 

	By:	/s/ IAN PARKER	 	 
	 	IAN PARKER	 	DATE 
	 	President	 	 

 

Solely
with regard to paragraphs 3 and 8

 

	/s/ STAVROS TRIANT	 	 
	STAVROS TRIANT	 	DATE

 

	STATE OF	)	
		)	ss.:
	COUNTY OF	)	

 

On
this      day of             
, 2019, before me, the undersigned, personally appeared STAVROS TRIANT, personally known to me or proved to me on the basis of
satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that he executed
the same in his personal capacity and in his capacity as President of Golden Developing Solutions Inc., and that his signature
on the instrument, the individual, and/or the person/entity upon behalf of which the individual acted, executed the instrument.

 

	 	           
	 	Notary Public

 

	STATE OF NEW YORK	)	
		)	ss.:
	COUNTY OF	)	

 

On
this    day of                 ,
2019, before me, the undersigned, personally appeared IAN PARKER, personally known to me or proved to me on the basis of satisfactory
evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that he executed the same
in his capacity as Managing Member of Pura Vida Health LLC and as managing Member of Emerald, and that his signature on the instrument,
the individual, and/or the person/entity upon behalf of which the individual acted, executed the instrument.

 

	 	           
	 	Notary Public

 

 

7Exhibit 4.1

 

 

 

		 	
        BARBARA K. CEGAVSKE

 Secretary of State

        202 North Carson Street

        Carson City, Nevada 89701-4201

 (775) 684-5708

        Website: www.nvsos.gov

 

	
        Certificate of Designation

        (PURSUANT TO NRS 78.1955)
	 

 

	USE BLACK INK ONLY - DO NOT HIGHLIGHT	ABOVE SPACE IS FOR OFFICE USE ONLY

 

Certificate of Designation For

Nevada Profit Corporations

(Pursuant to NRS 78.1955)

1. Name of corporation:

 

Inpixon

 

2. By resolution of the board of directors
pursuant to a provision in the articles of incorporation this certificate establishes the following regarding the voting powers,
designations, preferences, limitations, restrictions and relative rights of the following class or series of stock.

 

Series 6 Convertible Preferred Stock as set forth in the attached
Certificate of Designation of Preferences, Rights and Limitations of Series 6 Convertible Preferred Stock.

 

	3. Effective date of filing: (optional)		 
	 	 	(must not be later than 90 days after the certificate is filed)

 

4. Signature: (required)

 

	x	/s/ Nadir Ali	 

Signature of Officer

 

Filing Fee: $175.00

 

IMPORTANT: Failure to include any
of the above information and submit with the proper fees may cause this filing to be rejected.

 

	
         

        This form must be accompanied by appropriate fees.
	 	Reset	 	Nevada Secretary
                           of State Stock Designation

        Revised: 1-5-15

 

    1

     

    

 

INPIXON

 

CERTIFICATE OF DESIGNATION OF PREFERENCES,

RIGHTS AND LIMITATIONS

OF

SERIES 6 CONVERTIBLE PREFERRED STOCK

 

PURSUANT TO SECTION 78.195 OF THE

NEVADA REVISED STATUTES

 

The undersigned, Nadir
Ali and Wendy Loundermon, do hereby certify that:

 

1. They are the Chief
Executive Officer and Secretary, respectively, of Inpixon, a Nevada corporation (the “Corporation”).

 

2. The Corporation
is authorized to issue 5,000,000 shares of preferred stock, of which 127 shares are issued and outstanding.

 

3. The following resolutions
were duly adopted by the board of directors of the Corporation (the “Board of Directors”):

 

WHEREAS, the articles
of incorporation of the Corporation provides for a class of its authorized stock known as preferred stock, consisting of 5,000,000
shares, $0.001 par value per share, issuable from time to time in one or more series;

 

WHEREAS, the Board
of Directors is authorized to fix the dividend rights, dividend rate, voting rights, conversion rights, rights and terms of redemption
and liquidation preferences of any wholly unissued series of preferred stock and the number of shares constituting any series and
the designation thereof, of any of them; and

 

WHEREAS, it is the
desire of the Board of Directors, pursuant to its authority as aforesaid, to fix the rights, preferences, restrictions and other
matters relating to a series of the preferred stock, which shall consist of 2,997 shares of the preferred stock which the Corporation
has the authority to issue, as follows:

 

NOW, THEREFORE, BE
IT RESOLVED, that the Board of Directors does hereby provide for the issuance of a series of preferred stock for cash or exchange
of other securities, rights or property and does hereby fix and determine the rights, preferences, restrictions and other matters
relating to such series of preferred stock as follows:

 

    2

     

    

 

TERMS OF PREFERRED STOCK

 

Section 1. Definitions.
For the purposes hereof, the following terms shall have the following meanings:

 

“Affiliate”
means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common
control with a Person, as such terms are used in and construed under Rule 405 of the Securities Act.

 

“Alternate
Consideration” shall have the meaning set forth in Section 7(e).

 

“Beneficial
Ownership Limitation” shall have the meaning set forth in Section 6(d).

 

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

 

“Buy-In”
shall have the meaning set forth in Section 6(c)(iv).

 

“Closing”
means the closing of the offering of the Securities pursuant to the Underwriting Agreement.

 

“Commission”
means the United States Securities and Exchange Commission.

 

“Common
Stock” means the Corporation’s common stock, par value $0.001 per share, and stock of any other class of securities
into which such securities may hereafter be reclassified or changed.

 

“Common
Stock Equivalents” means any securities of the Corporation or the Subsidiaries which would entitle the holder thereof
to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, rights, options, warrants or other
instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to
receive, Common Stock.

 

“Conversion
Amount” means the sum of the Stated Value at issue.

 

“Conversion Date” shall have the meaning set forth
in Section 6(a).

 

“Conversion Price” shall have the meaning set forth in Section 6(b).

 

“Conversion
Shares” means, collectively, the shares of Common Stock issuable upon conversion of the shares of Preferred Stock in
accordance with the terms hereof.

 

    3

     

    

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

“Fundamental
Transaction” shall have the meaning set forth in Section 7(e).

 

“Holder” shall have the meaning set
forth in Section 2.

 

“Liquidation”
shall have the meaning set forth in Section 5.

 

“New
York Courts” shall have the meaning set forth in Section 8(d).

 

“Notice
of Conversion” shall have the meaning set forth in Section 6(a).

 

“Original
Issue Date” means the date of the first issuance of any shares of the Preferred Stock regardless of the number of transfers
of any particular shares of Preferred Stock and regardless of the number of certificates which may be issued to evidence such Preferred
Stock.

 

“Person”
means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability
company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

“Preferred
Stock” shall have the meaning set forth in Section 2.

 

“Securities”
means the Preferred Stock, the Warrants, the Conversion Shares and the Warrant Shares.

 

“Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

“Share
Delivery Date” shall have the meaning set forth in Section 6(c).

 

“Stated
Value” shall have the meaning set forth in Section 2, as the same may be increased pursuant to Section 3.

 

“Subsidiary”
means any direct or indirect subsidiary of the Corporation.

 

“Successor Entity” shall have the meaning set forth
in Section 7(d).

 

“Trading
Day” means a day on which the principal Trading Market is open for business.

 

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

 

    4

     

    

 

“Transaction
Documents” means this Certificate of Designation, the Warrants, all exhibits and schedules thereto and hereto and any
other documents or agreements executed in connection with the transactions contemplated therein.

 

“Transfer
Agent” means Computershare Trust Company, N.A., the current transfer agent of the Corporation, with a mailing address
of 250 Royall Street, Canton, MA 02021 and a facsimile number of (866) 519-2854, and any successor transfer agent of the Corporation.

 

“Underwriting
Agreement” means the underwriting agreement, dated August 12, 2019, among the Corporation and Ladenburg Thalmann &
Co. Inc. and Maxim Group LLC, as the representatives of the several underwriters named therein.

 

“VWAP”
means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then listed
or quoted on a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the nearest preceding
date) on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on a Trading
Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b) if OTCQB or OTCQX is not a Trading Market, the
volume weighted average price of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable,
(c) if the Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Common Stock are then
reported on the Pink Open Market, the most recent bid price per share of the Common Stock so reported, or (d) in all other cases,
the fair market value of a share of Common Stock as determined by an independent appraiser selected in good faith by the Holders
of a majority in interest of the Preferred Stock then outstanding and reasonably acceptable to the Corporation, the fees and expenses
of which shall be paid by the Corporation.

 

“Warrants”
means, collectively, the Common Stock purchase warrants to be delivered to the Holders at the Closing.

 

“Warrant
Shares” means the shares of Common Stock issuable upon exercise of the Warrants.

 

Section 2. Designation,
Amount and Par Value. The series of preferred stock shall be designated as its Series 6 Convertible Preferred Stock (the “Preferred
Stock”) and the number of shares so designated shall be 2,997 (which shall not be subject to increase without the written
consent of a majority of the holders of the Preferred Stock then outstanding (each, a “Holder” and collectively,
the “Holders”)). Each share of Preferred Stock shall have a par value of $0.001 per share and a stated value
equal to $1,000 (the “Stated Value”). The shares of Preferred Stock shall initially be issued and maintained
in the form of securities held in book-entry form and the Depository Trust Company or its nominee (“DTC”) shall
initially be the sole registered holder of the shares of Preferred Stock.

 

    5

     

    

 

Section 3. Dividends.
Except for stock dividends or distributions for which adjustments are to be made pursuant to Section 7, the Holders shall be entitled
to receive, and the Corporation shall pay, dividends on shares of Preferred Stock equal (on an as-if-converted-to-Common-Stock
basis, disregarding for such purpose any conversion limitations hereunder) to and in the same form as dividends actually paid on
shares of the Common Stock when, as and if such dividends are paid on shares of the Common Stock. No other dividends shall be paid
on shares of Preferred Stock. The Corporation shall not pay any dividends on the Common Stock unless the Corporation simultaneously
complies with this provision.

 

Section 4. Voting
Rights. Except as otherwise provided herein or as otherwise required by law, the Preferred Stock shall have no voting rights.
However, as long as any shares of Preferred Stock are outstanding, the Corporation shall not, without the affirmative vote of the
Holders of two-thirds of the then outstanding shares of the Preferred Stock, (a) alter or change adversely the powers, preferences
or rights given to the Preferred Stock or alter or amend this Certificate of Designation, (b) amend its articles of incorporation
or other charter documents in any manner that adversely affects any rights of the Holders, (c) increase the number of authorized
shares of Preferred Stock, or (d) enter into any agreement with respect to any of the foregoing.

 

Section 5. Liquidation.
Upon any liquidation, dissolution or winding-up of the Corporation, whether voluntary or involuntary (a “Liquidation”),
the Holders shall be entitled to receive out of the assets, whether capital or surplus, of the Corporation the same amount that
a holder of Common Stock would receive if the Preferred Stock were fully converted (disregarding for such purposes any conversion
limitations hereunder) to Common Stock which amounts shall be paid pari passu with all holders of Common Stock. A Fundamental
Transaction shall not be deemed a Liquidation. The Corporation shall mail written notice of any such Liquidation, not less than
45 days prior to the payment date stated therein, to each Holder.

 

Section 6. Conversion.

 

a) Conversions at
Option of Holder.

 

i. Each share
of Preferred Stock shall be convertible, at any time and from time to time from and after the Original Issue Date at the option
of the Holder thereof, into that number of shares of Common Stock (subject to the limitations set forth in Section 6(d)) determined
by dividing the Stated Value of such share of Preferred Stock by the Conversion Price. Holders shall effect conversions by providing
the Corporation with the form of conversion notice attached hereto as Annex A (a “Notice of Conversion”).
Each Notice of Conversion shall specify the number of shares of Preferred Stock to be converted, the number of shares of Preferred
Stock owned prior to the conversion at issue, the number of shares of Preferred Stock owned subsequent to the conversion at issue
and the date on which such conversion is to be effected, which date may not be prior to the date the applicable Holder delivers
by facsimile such Notice of Conversion to the Corporation (such date, the “Conversion Date”).

 

    6

     

    

 

ii. If no Conversion
Date is specified in a Notice of Conversion, the Conversion Date shall be the date that such Notice of Conversion to the Corporation
is deemed delivered hereunder. No ink-original Notice of Conversion shall be required, nor shall any medallion guarantee (or other
type of guarantee or notarization) of any Notice of Conversion form be required. The calculations and entries set forth in the
Notice of Conversion shall control in the absence of manifest or mathematical error. To effect conversions of shares of Preferred
Stock, a Holder shall not be required to surrender the shares of Preferred Stock to the Corporation unless all of the shares of
Preferred Stock represented thereby are so converted, in which case such Holder shall deliver such shares of Preferred Stock promptly
following the Conversion Date at issue. Shares of Preferred Stock converted into Common Stock or redeemed in accordance with the
terms hereof shall be canceled and shall not be reissued.

 

iii. Without
limiting the rights and remedies of a holder of Preferred Stock hereunder and without limiting the right of a Holder to deliver
a Notice of Conversion to the Corporation, a holder whose interest in the shares of Preferred Stock is a beneficial interest in
certificate(s) representing the shares of Preferred Stock held in book-entry form through DTC (or another established clearing
corporation performing similar functions), may effect conversions made pursuant to this Section 6(a) by delivering to DTC (or such
other clearing corporation, as applicable) the appropriate instruction form for conversion, complying with the procedures to effect
conversions that are required by DTC (or such other clearing corporation, as applicable).

 

b) Conversion Price.
The conversion price for the Preferred Stock shall equal $0.2775, subject to adjustment as provided herein (the “Conversion
Price”).

 

c) Mechanics of Conversion

 

i.
Delivery of Conversion Shares Upon Conversion. Not later than the earlier of (y) two (2) Trading Days and (z) the number
of Trading Days comprising the Standard Settlement Period (as defined below) after each Conversion Date (the “Share Delivery
Date”), the Corporation shall deliver, or cause to be delivered, to the converting Holder (A) the number of Conversion
Shares being acquired upon the conversion of the Preferred Stock, which Conversion Shares shall be free of restrictive legends
and trading restrictions, and (B) a wire in the amount of accrued and unpaid dividends, if any. The Corporation shall deliver the
Conversion Shares required to be delivered by the Corporation under this Section 6 electronically through the Depository Trust
Company or another established clearing corporation performing similar functions. As used herein, “Standard Settlement Period”
means the standard settlement period, expressed in a number of Trading Days, on the Corporation’s primary Trading Market
with respect to the Common Stock as in effect on the date of delivery of the Notice of Conversion. Notwithstanding the foregoing,
with respect to any Notice(s) of Conversion delivered by 12:00 p.m. (New York City time) on the Original Issue Date, the Corporation
agrees to deliver the Conversion Shares subject to such notice(s) by 4:00 p.m. (New York City time) on the Original Issue Date.

 

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ii. Failure
to Deliver Conversion Shares. If, in the case of any Notice of Conversion, such Conversion Shares are not delivered to or as
directed by the applicable Holder by the Share Delivery Date, the Holder shall be entitled to elect by written notice to the Corporation
at any time on or before its receipt of such Conversion Shares, to rescind such Conversion, in which event the Corporation shall
promptly return to the Holder any original Preferred Stock certificate delivered to the Corporation and the Holder shall promptly
return to the Corporation the Conversion Shares issued to such Holder pursuant to the rescinded Notice of Conversion.

 

iii. Obligation
Absolute; Partial Liquidated Damages. The Corporation’s obligation to issue and deliver the Conversion Shares upon conversion
of Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by
a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against
any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach
or alleged breach by such Holder or any other Person of any obligation to the Corporation or any violation or alleged violation
of law by such Holder or any other person, and irrespective of any other circumstance which might otherwise limit such obligation
of the Corporation to such Holder in connection with the issuance of such Conversion Shares; provided, however, that such
delivery shall not operate as a waiver by the Corporation of any such action that the Corporation may have against such Holder.
In the event a Holder shall elect to convert any or all of the Stated Value of its Preferred Stock, the Corporation may not refuse
conversion based on any claim that such Holder or any one associated or affiliated with such Holder has been engaged in any violation
of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and/or enjoining
conversion of all or part of the Preferred Stock of such Holder shall have been sought and obtained, and the Corporation posts
a surety bond for the benefit of such Holder in the amount of 150% of the Stated Value of Preferred Stock which is subject to the
injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the
proceeds of which shall be payable to such Holder to the extent it obtains judgment. In the absence of such injunction, the Corporation
shall issue Conversion Shares and, if applicable, cash, upon a properly noticed conversion. If the Corporation fails to deliver
to a Holder such Conversion Shares pursuant to Section 6(c)(i) by the Share Delivery Date applicable to such conversion, the Corporation
shall pay to such Holder, in cash, as liquidated damages and not as a penalty, for each $5,000 of Stated Value of Preferred Stock
being converted, $50 per Trading Day (increasing to $100 per Trading Day on the third Trading Day and increasing to $200 per Trading
Day on the sixth Trading Day after such damages begin to accrue) for each Trading Day after the Share Delivery Date until such
Conversion Shares are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s right to pursue
actual damages for the Corporation’s failure to deliver Conversion Shares within the period specified herein and such Holder
shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree
of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit a Holder from seeking to enforce
damages pursuant to any other Section hereof or under applicable law.

 

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iv.
Compensation for Buy-In on Failure to Timely Deliver Conversion Shares Upon Conversion. In addition to any other rights
available to the Holder, if the Corporation fails for any reason to deliver to a Holder the applicable Conversion Shares by the
Share Delivery Date pursuant to Section 6(c)(i), and if after such Share Delivery Date such Holder is required by its brokerage
firm to purchase (in an open market transaction or otherwise), or the Holder’s brokerage firm otherwise purchases, shares
of Common Stock to deliver in satisfaction of a sale by such Holder of the Conversion Shares which such Holder was entitled to
receive upon the conversion relating to such Share Delivery Date (a “Buy-In”), then the Corporation shall (A)
pay in cash to such Holder (in addition to any other remedies available to or elected by such Holder) the amount, if any, by which
(x) such Holder’s total purchase price (including any brokerage commissions) for the Common Stock so purchased exceeds (y)
the product of (1) the aggregate number of shares of Common Stock that such Holder was entitled to receive from the conversion
at issue multiplied by (2) the actual sale price at which the sell order giving rise to such purchase obligation was executed (including
any brokerage commissions) and (B) at the option of such Holder, either reissue (if surrendered) the shares of Preferred Stock
equal to the number of shares of Preferred Stock submitted for conversion (in which case, such conversion shall be deemed rescinded)
or deliver to such Holder the number of shares of Common Stock that would have been issued if the Corporation had timely complied
with its delivery requirements under Section 6(c)(i). For example, if a Holder purchases shares of Common Stock having a total
purchase price of $11,000 to cover a Buy-In with respect to an attempted conversion of shares of Preferred Stock with respect to
which the actual sale price of the Conversion Shares (including any brokerage commissions) giving rise to such purchase obligation
was a total of $10,000 under clause (A) of the immediately preceding sentence, the Corporation shall be required to pay such Holder
$1,000. The Holder shall provide the Corporation written notice indicating the amounts payable to such Holder in respect of the Buy-In and, upon
request of the Corporation, evidence of the amount of such loss. Nothing herein shall limit a Holder’s right to pursue any
other remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or
injunctive relief with respect to the Corporation’s failure to timely deliver the Conversion Shares upon conversion of the
shares of Preferred Stock as required pursuant to the terms hereof.

 

    9

     

    

 

v. Reservation
of Shares Issuable Upon Conversion. The Corporation covenants that it will at all times reserve and keep available out of its
authorized and unissued shares of Common Stock for the sole purpose of issuance upon conversion of the Preferred Stock as herein
provided, free from preemptive rights or any other actual contingent purchase rights of Persons other than the Holder (and the
other holders of the Preferred Stock), not less than such aggregate number of shares of the Common Stock as shall be issuable (taking
into account the adjustments and restrictions of Section 7) upon the conversion of the then outstanding shares of Preferred Stock.
The Corporation covenants that all shares of Common Stock that shall be so issuable shall, upon issue, be duly authorized, validly
issued, fully paid and nonassessable.

 

vi. Fractional
Shares. No fractional shares or scrip representing fractional shares shall be issued upon the conversion of the Preferred Stock.
As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such conversion, the Corporation shall
at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied
by the Conversion Price or round up to the next whole share. Notwithstanding anything to the contrary contained herein, but consistent
with the provisions of this subsection with respect to fractional Conversion Shares, nothing shall prevent any Holder from converting
fractional shares of Preferred Stock.

 

vii. Transfer
Taxes and Expenses. The issuance of Conversion Shares on conversion of this Preferred Stock shall be made without charge to
any Holder for any documentary stamp or similar taxes that may be payable in respect of the issue or delivery of such Conversion
Shares, provided that the Corporation shall not be required to pay any tax that may be payable in respect of any transfer involved
in the issuance and delivery of any such Conversion Shares upon conversion in a name other than that of the Holders of such shares
of Preferred Stock and the Corporation shall not be required to issue or deliver such Conversion Shares unless or until the Person
or Persons requesting the issuance thereof shall have paid to the Corporation the amount of such tax or shall have established
to the satisfaction of the Corporation that such tax has been paid. The Corporation shall pay all Transfer Agent fees required
for same-day processing of any Notice of Conversion and all fees to the Depository Trust Company (or another established clearing
corporation performing similar functions) required for same-day electronic delivery of the Conversion Shares.

 

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d) Beneficial
Ownership Limitation. The Corporation shall not effect any conversion of the Preferred Stock, and a Holder shall not have the
right to convert any portion of the Preferred Stock, to the extent that, after giving effect to the conversion set forth on the
applicable Notice of Conversion, such Holder (together with such Holder’s Affiliates, and any Persons acting as a group together
with such Holder or any of such Holder’s Affiliates (such Persons, “Attribution Parties”)) would beneficially
own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of
shares of Common Stock beneficially owned by such Holder and its Affiliates and Attribution Parties shall include the number of
shares of Common Stock issuable upon conversion of the Preferred Stock with respect to which such determination is being made,
but shall exclude the number of shares of Common Stock which are issuable upon (i) conversion of the remaining, unconverted Stated
Value of Preferred Stock beneficially owned by such Holder or any of its Affiliates or Attribution Parties and (ii) exercise or
conversion of the unexercised or unconverted portion of any other securities of the Corporation subject to a limitation on conversion
or exercise analogous to the limitation contained herein (including, without limitation, the Preferred Stock or the Warrants) beneficially
owned by such Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes
of this Section 6(d), beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act and the rules
and regulations promulgated thereunder. To the extent that the limitation contained in this Section 6(d) applies, the determination
of whether the Preferred Stock is convertible (in relation to other securities owned by such Holder together with any Affiliates
and Attribution Parties) and of how many shares of Preferred Stock are convertible shall be in the sole discretion of such Holder,
and the submission of a Notice of Conversion shall be deemed to be such Holder’s determination of whether the shares of Preferred
Stock may be converted (in relation to other securities owned by such Holder together with any Affiliates and Attribution Parties)
and how many shares of the Preferred Stock are convertible, in each case subject to the Beneficial Ownership Limitation. To ensure
compliance with this restriction, each Holder will be deemed to represent to the Corporation each time it delivers a Notice of
Conversion that such conversion has not violated the restrictions set forth in this paragraph and the Corporation shall have no
obligation to verify or confirm the accuracy of such representation. In addition, a determination as to any group status as contemplated
above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder.
For purposes of this Section 6(d), in determining the number of outstanding shares of Common Stock, a Holder may rely on the number
of outstanding shares of Common Stock as stated in the most recent of the following: (i) the Corporation’s most recent periodic
or annual report filed with the Commission, as the case may be, (ii) a more recent public announcement by the Corporation or (iii)
a more recent written notice by the Corporation or the Transfer Agent setting forth the number of shares of Common Stock outstanding.
Upon the written or oral request (which may be via email) of a Holder, the Corporation shall within one Trading Day confirm orally
and in writing to such Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares
of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Corporation, including
the Preferred Stock, by such Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding
shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election
by a Holder prior to the issuance of any shares of Preferred Stock, 9.99%) of the number of shares of the Common Stock outstanding
immediately after giving effect to the issuance of shares of Common Stock issuable upon conversion of Preferred Stock held by the
applicable Holder. A Holder, upon notice to the Corporation, may increase or decrease the Beneficial Ownership Limitation provisions
of this Section 6(d) applicable to its Preferred Stock provided that the Beneficial Ownership Limitation in no event exceeds 9.99%
of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock
upon conversion of this Preferred Stock held by the Holder and the provisions of this Section 6(d) shall continue to apply. Any
such increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered
to the Corporation and shall only apply to such Holder and no other Holder. The provisions of this paragraph shall be construed
and implemented in a manner otherwise than in strict conformity with the terms of this Section 6(d) to correct this paragraph (or
any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation contained herein or
to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in
this paragraph shall apply to a successor holder of Preferred Stock.

 

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Section 7. Certain Adjustments.

 

a) Stock
Dividends and Stock Splits. If the Corporation, at any time while this Preferred Stock is outstanding: (i) pays a stock dividend
or otherwise makes a distribution or distributions payable in shares of Common Stock on shares of Common Stock or any other Common
Stock Equivalents (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Corporation upon conversion
of, or payment of a dividend on, this Preferred Stock), (ii) subdivides outstanding shares of Common Stock into a larger number
of shares, (iii) combines (including by way of a reverse stock split) outstanding shares of Common Stock into a smaller number
of shares, or (iv) issues, in the event of a reclassification of shares of the Common Stock, any shares of capital stock of the
Corporation, then the Conversion Price shall be multiplied by a fraction of which the numerator shall be the number of shares of
Common Stock (excluding any treasury shares of the Corporation) outstanding immediately before such event, and of which the denominator
shall be the number of shares of Common Stock outstanding immediately after such event. Any adjustment made pursuant to this Section
7(a) shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend
or distribution and shall become effective immediately after the effective date in the case of a subdivision, combination or re-classification.

 

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b)
[Intentionally
Omitted].

 

c) Subsequent
Rights Offerings. In addition to any adjustments pursuant to Section 7(a) above, if at any time the Corporation grants, issues
or sells any Common Stock Equivalents or rights to purchase stock, warrants, securities or other property pro rata to the record
holders of any class of shares of Common Stock (the “Purchase Rights”), then the Holder will be entitled to
acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired
if the Holder had held the number of shares of Common Stock acquirable upon complete conversion of such Holder’s Preferred
Stock (without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation)
immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such
record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the grant, issue or
sale of such Purchase Rights (provided, however, to the extent that the Holder’s right to participate in any such Purchase
Right would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate
in such Purchase Right to such extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right
to such extent) and such Purchase Right to such extent shall be held in abeyance for the Holder until such time, if ever, as its
right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).

 

d) Pro
Rata Distributions. During such time as this Preferred Stock is outstanding, if the Corporation declares or makes any dividend
or other distribution of its assets (or rights to acquire its assets) to holders of shares of Common Stock, by way of return of
capital or otherwise (including, without limitation, any distribution of cash, stock or other securities, property or options by
way of a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a
“Distribution”), at any time after the issuance of this Preferred Stock, then, in each such case, the Holder
shall be entitled to participate in such Distribution to the same extent that the Holder would have participated therein if the
Holder had held the number of shares of Common Stock acquirable upon complete conversion of this Preferred Stock (without regard
to any limitations on conversion hereof, including without limitation, the Beneficial Ownership Limitation) immediately before
the date of which a record is taken for such Distribution, or, if no such record is taken, the date as of which the record holders
of shares of Common Stock are to be determined for the participation in such Distribution (provided, however, to the extent
that the Holder’s right to participate in any such Distribution would result in the Holder exceeding the Beneficial Ownership
Limitation, then the Holder shall not be entitled to participate in such Distribution to such extent (or in the beneficial ownership
of any shares of Common Stock as a result of such Distribution to such extent) and the portion of such Distribution shall be held
in abeyance for the benefit of the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding
the Beneficial Ownership Limitation).

 

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e) Fundamental
Transaction. If, at any time while this Preferred Stock is outstanding, (i) the Corporation, directly or indirectly, in one
or more related transactions effects any merger or consolidation of the Corporation with or into another Person, (ii) the Corporation,
directly or indirectly, effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially
all of its assets in one or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange
offer (whether by the Corporation or another Person) is completed pursuant to which holders of Common Stock are permitted to sell,
tender or exchange their shares for other securities, cash or property and has been accepted by the holders of 50% or more of the
outstanding Common Stock, (iv) the Corporation, directly or indirectly, in one or more related transactions effects any reclassification,
reorganization or recapitalization of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively
converted into or exchanged for other securities, cash or property, or (v) the Corporation, directly or indirectly, in one or more
related transactions consummates a stock or share purchase agreement or other business combination (including, without limitation,
a reorganization, recapitalization, spin-off or scheme of arrangement) with another Person whereby such other Person acquires more
than 50% of the outstanding shares of Common Stock (not including any shares of Common Stock held by the other Person or other
Persons making or party to, or associated or affiliated with the other Persons making or party to, such stock or share purchase
agreement or other business combination) (each a “Fundamental Transaction”), then, upon any subsequent conversion
of this Preferred Stock, the Holder shall have the right to receive, for each Conversion Share that would have been issuable upon
such conversion immediately prior to the occurrence of such Fundamental Transaction (without regard to any limitation in Section
6(d) on the conversion of this Preferred Stock), the number of shares of Common Stock of the successor or acquiring corporation
or of the Corporation, if it is the surviving corporation, and any additional consideration (the “Alternate Consideration”)
receivable as a result of such Fundamental Transaction by a holder of the number of shares of Common Stock for which this Preferred
Stock is convertible immediately prior to such Fundamental Transaction (without regard to any limitation in Section 6(d) on the
conversion of this Preferred Stock). For purposes of any such conversion, the determination of the Conversion Price shall be appropriately
adjusted to apply to such Alternate Consideration based on the amount of Alternate Consideration issuable in respect of one share
of Common Stock in such Fundamental Transaction, and the Corporation shall apportion the Conversion Price among the Alternate Consideration
in a reasonable manner reflecting the relative value of any different components of the Alternate Consideration. If holders of
Common Stock are given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the
Holder shall be given the same choice as to the Alternate Consideration it receives upon any conversion of this Preferred Stock
following such Fundamental Transaction. The amount of any consideration to be received by a Holder in connection with a Fundamental
Transaction shall be payable in the same type or form of consideration (and in the same proportion) that is being offered and paid
to the holders of Common Stock of the Corporation in connection with the Fundamental Transaction, whether that consideration be
in the form of cash, stock or any combination thereof, or whether the holders of Common Stock are given the choice to receive from
among alternative forms of consideration in connection with the Fundamental Transaction. To the extent necessary to effectuate
the foregoing provisions, any successor to the Corporation or surviving entity in such Fundamental Transaction shall file a new
Certificate of Designation with the same terms and conditions and issue to the Holders new preferred stock consistent with the
foregoing provisions and evidencing the Holders’ right to convert such preferred stock into Alternate Consideration. The
Corporation shall cause any successor entity in a Fundamental Transaction in which the Corporation is not the survivor (the “Successor
Entity”) to assume in writing all of the obligations of the Corporation under this Certificate of Designation and the
other Transaction Documents in accordance with the provisions of this Section 7(d) pursuant to written agreements in form and substance
reasonably satisfactory to the Holder and approved by the Holder (without unreasonable delay) prior to such Fundamental Transaction
and shall, at the option of the Holder, deliver to the Holder in exchange for this Preferred Stock a security of the Successor
Entity evidenced by a written instrument substantially similar in form and substance to this Preferred Stock which is convertible
for a corresponding number of shares of capital stock of such Successor Entity (or its parent entity) equivalent to the shares
of Common Stock acquirable and receivable upon conversion of this Preferred Stock (without regard to any limitations on the conversion
of this Preferred Stock) prior to such Fundamental Transaction, and with a conversion price which applies the conversion price
hereunder to such shares of capital stock (but taking into account the relative value of the shares of Common Stock pursuant to
such Fundamental Transaction and the value of such shares of capital stock, such number of shares of capital stock and such conversion
price being for the purpose of protecting the economic value of this Preferred Stock immediately prior to the consummation of such
Fundamental Transaction), and which is reasonably satisfactory in form and substance to the Holder. Upon the occurrence of any
such Fundamental Transaction, the Successor Entity shall succeed to, and be substituted for (so that from and after the date of
such Fundamental Transaction, the provisions of this Certificate of Designation and the other Transaction Documents referring to
the “Corporation” shall refer instead to the Successor Entity), and may exercise every right and power of the Corporation
and shall assume all of the obligations of the Corporation under this Certificate of Designation and the other Transaction Documents
with the same effect as if such Successor Entity had been named as the Corporation herein. For the avoidance of doubt, if, at any
time while this Preferred Stock is outstanding, a Fundamental Transaction occurs, pursuant to the terms of this Section 7(d), the
Holder shall not be entitled to receive more than one of (i) the consideration receivable as a result of such Fundamental Transaction
by a holder of the number of shares of Common Stock for which this Preferred Stock is convertible immediately prior to such Fundamental
Transaction or (ii) the assumption by the Successor Entity of all of the obligations of the Corporation under this Certificate
of Designation and the option to receive a security of the Successor Entity evidenced by a written instrument substantially similar
in form and substance to this Certificate of Designation.

 

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f) Calculations.
All calculations under this Section 7 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be.
For purposes of this Section 7, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall
be the sum of the number of shares of Common Stock (excluding any treasury shares of the Corporation) issued and outstanding.

 

g) Notice
to the Holders.

 

i. Adjustment
to Conversion Price. Whenever the Conversion Price is adjusted pursuant to any provision of this Section 7, the Corporation
shall promptly deliver to each Holder by facsimile or email a notice setting forth the Conversion Price after such adjustment and
setting forth a brief statement of the facts requiring such adjustment.

 

ii.
Notice to Allow Conversion by Holder. If (A) the Corporation shall declare a dividend (or any other distribution in whatever
form) on the Common Stock, (B) the Corporation shall declare a special nonrecurring cash dividend on or a redemption of the Common
Stock, (C) the Corporation shall authorize the granting to all holders of the Common Stock of rights or warrants to subscribe for
or purchase any shares of capital stock of any class or of any rights, (D) the approval of any stockholders of the Corporation
shall be required in connection with any reclassification of the Common Stock, any consolidation or merger to which the Corporation
is a party, any sale or transfer of all or substantially all of the assets of the Corporation, or any compulsory share exchange
whereby the Common Stock is converted into other securities, cash or property or (E) the Corporation shall authorize the voluntary
or involuntary dissolution, liquidation or winding up of the affairs of the Corporation, then, in each case, the Corporation shall
cause to be filed at each office or agency maintained for the purpose of conversion of this Preferred Stock, and shall cause to
be delivered by facsimile or email to each Holder at its last facsimile number or email address as it shall appear upon the stock
books of the Corporation, at least ten (10) calendar days prior to the applicable record or effective date hereinafter specified,
a notice stating (x) the date on which a record is to be taken for the purpose of such dividend, distribution, redemption, rights
or warrants, or if a record is not to be taken, the date as of which the holders of the Common Stock of record to be entitled to
such dividend, distributions, redemption, rights or warrants are to be determined or (y) the date on which such reclassification,
consolidation, merger, sale, transfer or share exchange is expected to become effective or close, and the date as of which it is
expected that holders of the Common Stock of record shall be entitled to exchange their shares of the Common Stock for securities,
cash or other property deliverable upon such reclassification, consolidation, merger, sale, transfer or share exchange, provided
that the failure to deliver such notice or any defect therein or in the delivery thereof shall not affect the validity of the corporate
action required to be specified in such notice. To the extent that any notice provided hereunder constitutes, or contains, material, non-public information regarding the Corporation or any of the Subsidiaries,
the Corporation shall simultaneously file such notice with the Commission pursuant to a Current Report on Form 8-K. The Holder
shall remain entitled to convert the Conversion Amount of this Preferred Stock (or any part hereof) during the 20-day period commencing
on the date of such notice through the effective date of the event triggering such notice except as may otherwise be expressly
set forth herein.

 

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Section 8. Miscellaneous.

 

a) Notices.
Any and all notices or other communications or deliveries to be provided by the Holders hereunder including, without limitation,
any Notice of Conversion, shall be in writing and delivered personally, by facsimile or e-mail, or sent by a nationally recognized
overnight courier service, addressed to the Corporation, to Inpixon, 2479 E. Bayshore Road, Suite 195, Palo Alto, CA 94303, Attention:
Nadir Ali, Chief Executive Officer; facsimile number 703-880-7219; e-mail address notices@Inpixon.com; or such other facsimile
number, e-mail address or address as the Corporation may specify for such purposes by notice to the Holders delivered in accordance
with this Section 8, with a copy to Mitchell Silberberg & Knupp, LLP, Attention: Melanie Figueroa, Esq., 437 Madison Avenue,
25th Floor, New York, NY 10022, facsimile number 212-509-7239, email address mxf@msk.com. Any and all notices or other communications
or deliveries to be provided by the Corporation hereunder shall be in writing and delivered personally, by facsimile or e-mail,
or sent by a nationally recognized overnight courier service addressed to each Holder at the facsimile number, e-mail address
or address of such Holder appearing on the books of the Corporation. Any notice or other communication or deliveries hereunder
shall be deemed given and effective on the earliest of (i) the time of transmission, if such notice or communication is delivered
via facsimile at the facsimile number or e-mail at the e-mail address set forth in this Section 8 prior to 5:30 p.m. (New York
City time) on any date, (ii) the next Trading Day after the date of transmission, if such notice or communication is delivered
via facsimile at the facsimile number or e-mail at the e-mail address set forth in this Section on a day that is not a Trading
Day or later than 5:30 p.m. (New York City time) on any Trading Day, (iii) the second Trading Day following the date of mailing,
if sent by U.S. nationally recognized overnight courier service, or (iv) upon actual receipt by the party to whom such notice
is required to be given.

 

b) Absolute
Obligation. Except as expressly provided herein, no provision of this Certificate of Designation shall alter or impair the
obligation of the Corporation, which is absolute and unconditional, to pay liquidated damages, and accrued dividends, as applicable,
on the shares of Preferred Stock at the time, place, and rate, and in the coin or currency, herein prescribed.

 

c) Lost
or Mutilated Preferred Stock Certificate. If a Holder’s Preferred Stock certificate shall be mutilated, lost, stolen
or destroyed, the Corporation shall execute and deliver, in exchange and substitution for and upon cancellation of a mutilated
certificate, or in lieu of or in substitution for a lost, stolen or destroyed certificate, a new certificate for the shares of
Preferred Stock so mutilated, lost, stolen or destroyed, but only upon receipt of evidence of such loss, theft or destruction of
such certificate, and of the ownership hereof reasonably satisfactory to the Corporation.

 

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d) Governing
Law. All questions concerning the construction, validity, enforcement and interpretation of this Certificate of Designation
shall be governed by and construed and enforced in accordance with the internal laws of the State of Nevada without regard to the
principles of conflict of laws thereof. Each of the Corporation and each Holder agrees that all legal proceedings concerning the
interpretation, enforcement and defense of the transactions contemplated by this Certificate of Designation (whether brought against
the Corporation, a Holder or any of their respective Affiliates, directors, officers, shareholders, employees or agents) shall
be commenced in the state and federal courts sitting in the City of New York, Borough of Manhattan (the “New York Courts”).
The Corporation and each Holder hereby irrevocably submits to the exclusive jurisdiction of the New York Courts for the adjudication
of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein), and hereby
irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to
the jurisdiction of such New York Courts, or such New York Courts are improper or inconvenient venue for such proceeding. The Corporation
and each Holder 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 via registered or certified mail or overnight delivery (with evidence of delivery) to such
party at the address in effect for notices to it under this Certificate of Designation and agrees that such service shall constitute
good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right
to serve process in any other manner permitted by applicable law. The Corporation and each Holder hereby irrevocably waives, to
the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or relating
to this Certificate of Designation or the transactions contemplated hereby. If the Corporation or any Holder shall commence an
action or proceeding to enforce any provisions of this Certificate of Designation, then the prevailing party in such action or
proceeding shall be reimbursed by the other party for its attorneys’ fees and other costs and expenses incurred in the investigation,
preparation and prosecution of such action or proceeding.

 

e) Waiver.
Any waiver by the Corporation or a Holder of a breach of any provision of this Certificate of Designation shall not operate as
or be construed to be a waiver of any other breach of such provision or of any breach of any other provision of this Certificate
of Designation or a waiver by any other Holders. The failure of the Corporation or a Holder to insist upon strict adherence to
any term of this Certificate of Designation on one or more occasions shall not be considered a waiver or deprive that party (or
any other Holder) of the right thereafter to insist upon strict adherence to that term or any other term of this Certificate of
Designation on any other occasion. Any waiver by the Corporation or a Holder must be in writing.

 

    17

     

    

 

f) Severability.
If any provision of this Certificate of Designation is invalid, illegal or unenforceable, the balance of this Certificate of Designation
shall remain in effect, and if any provision is inapplicable to any Person or circumstance, it shall nevertheless remain applicable
to all other Persons and circumstances. If it shall be found that any interest or other amount deemed interest due hereunder violates
the applicable law governing usury, the applicable rate of interest due hereunder shall automatically be lowered to equal the maximum
rate of interest permitted under applicable law.

 

g) Next
Business Day. Whenever any payment or other obligation hereunder shall be due on a day other than a Business Day, such payment
shall be made on the next succeeding Business Day.

 

h) Headings.
The headings contained herein are for convenience only, do not constitute a part of this Certificate of Designation and shall not
be deemed to limit or affect any of the provisions hereof.

 

i) Status
of Converted or Redeemed Preferred Stock. If any shares of Preferred Stock shall be converted, redeemed or reacquired by the
Corporation, such shares shall resume the status of authorized but unissued shares of preferred stock and shall no longer be designated
as Series 6 Convertible Preferred Stock.

 

*********************

 

    18

     

    

 

RESOLVED, FURTHER, that the Chairman, the
Chief Executive Officer, the president or any vice-president, and the secretary or any assistant secretary, of the Corporation
be and they hereby are authorized and directed to prepare and file this Certificate of Designation of Preferences, Rights and Limitations
in accordance with the foregoing resolution and the provisions of Nevada law.

     

     

    

IN WITNESS WHEREOF,
the undersigned have executed this Certificate this 12th day of August, 2019.

 

	/s/ Nadir Ali	 	/s/ Wendy Loundermon
	Name: Nadir Ali	 	Name: Wendy Loundermon
	Title: Chief Executive Officer	 	Title: Secretary

 

     

     

    

 

 

ANNEX A

 

NOTICE OF CONVERSION

 

(TO BE EXECUTED BY THE REGISTERED HOLDER
IN ORDER TO CONVERT SHARES OF PREFERRED STOCK)

 

		TO:	COMPUTERSHARE TRUST COMPANY, N.A.

		 	e-mail address: abby.cowart@computershare.com

		INPIXON	e-mail address: notices@Inpixon.com

 

The undersigned hereby elects to convert
the number of shares of Series 6 Convertible Preferred Stock indicated below into shares of common stock, par value $0.001 per
share (the “Common Stock”), of Inpixon, a Nevada corporation (the “Corporation”), according
to the conditions hereof, as of the date written below. If shares of Common Stock are to be issued in the name of a Person other
than the undersigned, the undersigned will pay all transfer taxes payable with respect thereto and is delivering herewith such
certificates and opinions as may be required by the Corporation. No fee will be charged to the Holders for any conversion, except
for any such transfer taxes.

 

Conversion calculations:

 

	 	Date to Effect Conversion:	 

 

	 	Number of shares of Preferred Stock owned prior to Conversion:	 

 

	 	Number of shares of Preferred Stock to be Converted:	 

 

	 	Stated Value of shares of Preferred Stock to be Converted:	 

 

	 	Number of shares of Common Stock to be Issued:	 

 

	 	Applicable Conversion Price:	 

 

	 	Number of shares of Preferred Stock subsequent to Conversion:	 

 

	 	Address for Delivery:	 	 

or

DWAC Instructions:

Broker
no: ______________

Account
no: _______________

 

	 	HOLDER
	 	 
	 	By:	 
	 	 	Name: 
	 	 	Title:

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