Document:

Form of Warrant Amendment Agreement

 Exhibit 10.3 

Execution Version 

WARRANT AMENDMENT AGREEMENT 

This Warrant Amendment Agreement (the “Agreement”) is made as of August 10, 2016, by and between TapImmune Inc., a Nevada
corporation (the “Company”), and each of the warrant holders (each, including its successors and assigns, a “Holder” and collectively, the “Holders”), identified on the signature pages hereto, of
certain Series A Warrants, Series C Warrants, Series D Warrants and Series E Warrants to purchase common stock, par value $0.001 per share (the “Common Stock”), of the Company, originally issued by the Company on January 12, 2015.

 RECITALS 
 WHEREAS,
the Company, each of the Holders and certain other holders are parties to that certain Securities Purchase Agreement, dated as of January 12, 2015 (the “Securities Purchase Agreement”), pursuant to which, among other things, the
Holders purchased from the Company certain Series A Warrants, Series B Warrants, Series C Warrants, Series D Warrants and Series E Warrants (collectively with Eastern Capital Limited, the “Other Holders”); 

WHEREAS, the Company’s outstanding Series A Warrants, Series C Warrants, Series D Warrants and Series E Warrants (collectively, the
“Warrants”) contain certain provisions relating to anti-dilution and other provisions that create accounting treatment of the Warrants as a derivative liability on the balance sheets of the Company; 

WHEREAS, Section 9 of each of the Series A Warrants, Series C Warrants, Series D Warrants and Series E Warrants, respectively, requires the
written consent of the Holder to amend the terms thereof; 
 WHEREAS, the Company and each of the Holders wish to enter into this Agreement,
pursuant to which, among other things, (i) the Holders agree to amend the Warrants and remove such provisions so that the Warrants will be classified as equity instruments on the balance sheets of the Company and (ii) the Company shall issue to the
Holders additional shares of Common Stock and warrants to purchase Common Stock as set forth next to the Holder’s name on Schedule I attached hereto. 

AGREEMENT 
 NOW,
THEREFORE, IT IS RESOLVED, in consideration of mutual covenants herein contained and other good and valuable consideration, the mutual receipt and legal sufficiency of which are hereby acknowledged, the undersigned hereby agree as follows: 

 

	1.	Amendment of the Warrants; Exercise of Warrants and PIPE. 

 (a) Subject
to the satisfaction (or waiver) of the closing conditions set forth in Section 10 hereof, upon the Closing (as herein defined) the Series A Warrants, Series C Warrants, Series D Warrants and Series E Warrants will be amended as set forth in
Exhibit A-1, Exhibit A-2, Exhibit A-3 and Exhibit A-4 hereto, respectively (the “Amended Series A Warrants,” the “Amended Series C Warrants,” the “Amended Series D
Warrants” and the “Amended Series E Warrants,” respectively, and collectively the “Amended Warrants”). 

  
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 (b) Following the Closing, the Holder shall have the right to exercise the
Amended Warrants based on the amended terms without having received a new certificate evidencing such Amended Warrants. 

(c) Before or simultaneous with the execution hereof, the Holders and the Other Holders shall have delivered to the Company
duly executed irrevocable notices of exercise, in the form attached hereto as Exhibit C, for the exercise of an aggregate of 12.0 million Series C Warrants and Series C-1 Warrants, as applicable, at the exercise price of $0.50 per share.
Subject to the satisfaction or waiver of the closing conditions set forth in Section 10(a) hereof, the exercise price for the warrants being exercised shall be delivered to the Company on the first business day after the date of the execution of
this Agreement. 
 (d) Before or simultaneous with the execution hereof, investors in the PIPE (as such term is defined
below) shall have delivered to the Company duly executed and acceptable irrevocable subscription agreements in an aggregate amount of at least $2.0 million in gross proceeds to the Company. The purchase price for the securities sold in the PIPE
shall be delivered to the Company at or prior to the Closing. 
  

	2.	Closing. Upon the terms and subject to the conditions set forth herein, the closing of this Agreement and the exercise of the Series C Warrants and the Series C-1 Warrants contemplated in Section 1 (the
“Closing”) will take place at 2:00 p.m., New York time, on the first business day after the satisfaction or waiver of the closing conditions set forth in Section 10 at Closing, at the offices of Shumaker, Loop & Kendrick,
LLP, 101 E. Kennedy Blvd., Suite 2800, Tampa, Florida, unless this Agreement has been terminated pursuant to its terms or unless another time, date or place is agreed to in writing by the parties. The date on which the Closing occurs is
referred to herein as the “Closing Date.” 

  

	3.	Issuance of Additional Shares and Warrants. Within three (3) Trading Days following the Closing Date, the Company shall issue and deliver to the Holders shares of Common Stock (the “Additional
Shares”) and five-year warrants to purchase Common Stock, with an exercise price of $0.60 per share (appropriately adjusted for any stock split, reverse stock split, stock dividend or other reclassification or combination of the Common
Stock occurring after the date hereof), in the form of Series F Warrants, attached hereto as Exhibit B and in such amounts as set forth next to the Holder’s name on Schedule I attached hereto (the “Additional
Warrants,” and collectively with the Additional Shares, the “Additional Shares and Warrants”). In addition, within three (3) Trading Days following the Closing Date, the Company shall deliver to the Holder the Amended
Series A Warrants, the Amended Series C Warrants, the Amended Series D Warrants and the Amended Series E Warrants. Following the Closing Date, the Holder shall deliver to the Company the outstanding Series A Warrants, Series C Warrants, Series D
Warrants and Series E Warrants held by Holder.

  
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	4.	Legends. 

 (a) The Holder understands that the Additional Shares and
Warrants are not, and will not be, registered under the Securities Act, or the securities laws of any state and, accordingly, each certificate, if any, representing such Additional Shares and Warrants shall bear a legend substantially similar to the
following: 
 “THIS SECURITY HAS NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES
COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. THIS SECURITY MAY BE
PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT WITH A REGISTERED BROKER-DEALER OR OTHER LOAN WITH A FINANCIAL INSTITUTION THAT IS AN “ACCREDITED INVESTOR” AS DEFINED IN RULE 501(a) UNDER THE SECURITIES ACT OR OTHER LOAN SECURED BY
SUCH SECURITIES.” 
 (b) Certificates evidencing the Additional Shares and the shares underlying the Additional Warrants
(the “Warrant Shares”) shall not contain any legend (including the legend set forth in Section 4(a) hereof), (i) while a registration statement covering the resale of such security is effective under the Securities Act, (ii)
following any sale of such Additional Shares or Warrant Shares pursuant to Rule 144, (iii) if such Additional Shares or Warrant Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current
public information required under Rule 144 as to such Additional Shares and Warrant Shares and without volume or manner-of-sale restrictions, (iv) if such Additional Shares or Warrant Shares may be sold under Rule 144 and the Company is then in
compliance with the current public information required under Rule 144 as to such Additional Shares or Warrant Shares (assuming a cashless exercise of the Additional Warrants with respect to the Warrant Shares), or (v) if such legend is not required
under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Securities and Exchange Commission (the “Commission”)). The Company shall cause its counsel to
issue a legal opinion to the transfer agent promptly after the Delegend Date if required by the Company and/or the transfer agent to effect the removal of the legend hereunder, which opinion shall be in form and substance reasonably acceptable to
the Holder. If all or any portion of an Additional Warrant is exercised at a time when there is an effective registration statement to cover the resale of the Warrant Shares, or if such Warrant Shares may be sold under Rule 144 and the Company is
then in compliance with the current public information required under Rule 144, or if the Additional Shares or Warrant Shares may be sold under Rule 144 without the requirement for the Company to be in compliance with the current public information
required under Rule 144 as to such Additional Shares or Warrant Shares or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial 

  
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interpretations and pronouncements issued by the staff of the Commission) then such Additional Shares and Warrant Shares shall be issued free of all legends. The Company agrees that following the
Delegend Date or at such time as such legend is no longer required under this Section 4(b), it will, no later than three (3) Trading Days following the delivery by a Holder to the Company or the transfer agent of a certificate representing
Additional Shares or Warrant Shares, as the case may be, issued with a restrictive legend (such third Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Holder a certificate representing such shares
that is free from all restrictive and other legends. The Company may not make any notation on its records or give instructions to the transfer agent that enlarge the restrictions on transfer set forth in this Section 4. Certificates for Additional
Shares or Warrant Shares subject to legend removal hereunder shall be transmitted by the transfer agent to the Holder by crediting the account of the Holder’s prime broker with the Depository Trust Company System as directed by such Holder.
“Delegend Date” means the earliest of the date that (a) a registration statement with respect to the Additional Shares and Warrant Shares has been declared effective by the Commission, (b) all of the Additional Shares and Warrant
Shares have been sold pursuant to Rule 144 or may be sold pursuant to Rule 144 without the requirement for the Company to be in compliance with the current public information required under Rule 144 and without volume or manner-of-sale restrictions
or (c) following the six (6) month anniversary of the Closing Date provided that a Holder of Additional Shares or Warrant Shares is not an Affiliate of the Company, the Company is in compliance with the current public information required under Rule
144 (“Current Public Information Requirement”) and all of the Additional Shares and Warrant Shares may be sold pursuant to Rule 144 or an exemption from registration under Section 4(a)(1) of the Securities Act without volume or
manner-of-sale restrictions; provided, further, however, that if the Company fails to comply with the Current Public Information Requirement at any time following the six (6) month anniversary of the Closing Date and the one (1) year anniversary of
the Closing Date, the Company shall promptly provide notice to the Holder and the Holder undertakes not to sell any of the Additional Shares and the Additional Warrants pursuant to Rule 144 until the Company notifies the Holder that it has regained
compliance with the Current Public Information Requirement.
 (c) In addition to such Holder’s other available remedies,
the Company shall pay to a Holders, in cash, the greater of (A) as partial liquidated damages and not as a penalty, for each $1,000 of Additional Shares (based on the weighted average price of the shares on Common Stock on the date such securities
are submitted to the transfer agent) delivered for removal of the restrictive legend and subject to Section 4(b), $5 per Trading Day (increasing to $10 per Trading Day five (5) Trading Days after such damages have begun to accrue) for each Trading
Day after (x) the Legend Removal Date until such certificate is delivered without a legend or (y) the Company fails to Comply with the Current Public Information Requirement, and (B) if either (i) the Company fails to issue and deliver (or cause to
be delivered) to a Holder by the Legend Removal Date the Additional Shares or the Warrant Shares so delivered to the Company by such Holder electronically without any restrictive and other legends by crediting such aggregate number of shares to such
Holder’s or its designee’s balance account with DTC through its Deposit / Withdrawal At Custodian System, or (ii) after the Legend Removal Date such Holder purchases (in an open market transaction or otherwise) shares to deliver in
satisfaction of a sale by such Holder of all or any portion of the number of Additional Shares and Warrant Shares, or a sale of a number of Shares and 

  
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Warrant Shares equal to all or any portion of the number of Shares and Warrant Shares that such Holder anticipated receiving from the Company without any restrictive legend, then, an amount equal
to the excess of such Holder’s total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) for the shares so purchased (including brokerage commissions and other out-of-pocket expenses, if any) (the
“Buy-In Price”) over the product of (x) such number of Additional Shares and Warrant Shares that the Company was required to deliver to such Holder by the Legend Removal Date multiplied by (y) the lowest closing sale price of the
shares of Common Stock on any Trading Day during the period commencing on the date of the delivery by such Holder to the Company of the applicable Additional Shares and Warrant Shares (as the case may be) and ending on the date of such delivery and
payment under this clause (c). 
  

	5.	Public Information. At any time during the period commencing from the six (6) month anniversary of the date hereof and ending at such time that all of the Additional Shares and Warrant Shares may be sold
without the requirement for the Company to be in compliance with Rule 144(c)(1) and otherwise without restriction or limitation pursuant to Rule 144, if the Company (i) shall fail for any reason to satisfy the current public information requirement
under Rule 144(c) or (ii) has ever been an issuer described in Rule 144(i)(1)(i) or becomes an issuer in the future, and the Company shall fail to satisfy any condition set forth in Rule 144(i)(2) (a “Public Information Failure”)
then, in addition to such Holder’s other available remedies, the Company shall pay to a Holder, in cash, as partial liquidated damages and not as a penalty, by reason of any such delay in or reduction of its ability to sell the Additional
Shares and Warrant Shares, an amount in cash equal to two percent (2.0%) of the aggregate market price of such Holder’s Additional Shares and Warrant Shares on the day of a Public Information Failure and on every thirtieth (30th) day (pro rated for periods totaling less than thirty (30) days) thereafter until the earlier of (a) the date such Public Information Failure is cured and (b) such time that such public information
is no longer required for the Holders to transfer the Additional Shares and Warrant Shares pursuant to Rule 144. The payments to which a Purchaser shall be entitled pursuant to this Section 5 are referred to herein as “Public
Information Failure Payments.” Public Information Failure Payments shall be paid on the earlier of (i) the last day of the calendar month during which such Public Information Failure Payments are incurred and (ii) the third
(3rd) Trading Day after the event or failure giving rise to the Public Information Failure Payments is cured. In the event the Company fails to make Public Information
Failure Payments in a timely manner, such Public Information Failure Payments shall bear interest at the rate of 1.5% per month (pro rated for partial months) until paid in full. Nothing herein shall limit such Holder’s right to pursue
actual damages for the Public Information Failure, and such Holder shall have the right to pursue all remedies available to it at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief.

  

	6.	Representations and Warranties of the Company. The Company represents, warrants and covenants to the Holders as follows. 

(a) Each of the Company and its Subsidiaries (as defined below) are entities duly organized and validly existing and in good
standing under the laws of the jurisdiction in which they are formed, and have the requisite power and authorization to own their properties and to carry on their business as now being conducted and as presently proposed

  
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to be conducted. Each of the Company and each of its Subsidiaries is duly qualified as a foreign entity to do business, and is in good standing, in every jurisdiction in which its ownership of
property or the nature of the business conducted by it makes such qualification necessary, except to the extent that the failure to be so qualified or be in good standing would not have a Material Adverse Effect. As used in this Agreement,
“Material Adverse Effect” means any material adverse effect on (i) the business, properties, assets, liabilities, operations (including results thereof), condition (financial or otherwise) or prospects of the Company or its
Subsidiaries, taken as a whole, (ii) the transactions contemplated hereby or (iii) the authority or ability of the Company to perform any of its obligations hereunder. Other than its Subsidiaries, there is no Person in which the Company, directly or
indirectly, (i) owns any of the capital stock or holds an equity or similar interest or (ii) controls or operates all or any part of the business, operations or administration of such Person. A “Subsidiary” means any Person (as
defined in the Securities Purchase Agreement) in which the Company, directly or indirectly, (i) owns any of the outstanding capital stock or holds any equity or similar interest of such Person or (ii) controls or operates all or any part of the
business, operations or administration of such Person, and all of the foregoing. As of the date of this Agreement, the Company has no Subsidiaries other than GeneMax Pharmaceuticals Inc. 

(b) The Company has the requisite power and authority to enter into and perform its obligations under this Agreement and to
deliver the Amended Warrants and issue the Additional Shares and Warrants in accordance with the terms hereof. The execution and delivery of this Agreement by the Company, and the consummation by the Company of the transactions contemplated
hereby (including, without limitation, the issuance of the Amended Warrants and the Additional Shares and Warrants) have been duly authorized by the Company’s board of directors and (other than filings as may be required by applicable federal
and state securities laws regarding the issuance of the Additional Shares and Warrants), no further filing, consent or authorization is required by the Company, its board of directors or its stockholders or other governing body. This Agreement has
been and the other documents or instruments to be delivered on or prior to the Closing Date will be duly executed and delivered by the Company, and upon such execution will constitute the legal, valid and binding obligations of the Company,
enforceable against the Company in accordance with their respective terms, except as such enforceability may be limited by general principles of equity or applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws
relating to, or affecting generally, the enforcement of applicable creditors’ rights and remedies. 
 (c) The issuance
of the Additional Shares and the Additional Warrants (and the shares issuable thereunder) have been duly authorized and upon issuance in accordance with the terms of this Agreement shall be validly issued, fully paid and non-assessable and free from
all preemptive or similar rights, taxes, liens, charges and other encumbrances with respect to the issuance thereof. The Company shall have reserved from its duly authorized capital stock as of the Closing Date number of shares underlying the
Amended Warrants and the Additional Warrants (determined without taking into account any limitations on the exercise of the Amended Warrants and the Additional Warrants set forth therein). Upon exercise in accordance with the Amended Warrants or the
Additional Warrants, the underlying shares, when issued, will be validly issued, fully paid and nonassessable and free from all preemptive or similar rights, taxes, liens, charges and other encumbrances with

  
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respect to the issue thereof, with the holders being entitled to all rights accorded to a holder of Common Stock. The offer and issuance by the Company of the Additional Shares and the Additional
Warrants (including the shares issuable thereunder) are exempt from registration pursuant to Section 4(a)(2) of the 1933 Act. 

(d) The execution, delivery and performance of this Agreement by the Company and the consummation by the Company of the
transactions contemplated hereby (including, without limitation, the issuance of Additional Shares and the Additional Warrants (including the shares issuable thereunder) and the reservation for issuance of the Amended Warrants (including the shares
issuable thereunder), the Additional Shares and the Additional Warrants (including the shares issuable thereunder) as contemplated under Section 6(c) above) will not (i) result in a violation of the Company’s articles of incorporation or other
organizational documents of the Company or any of its Subsidiaries, any capital stock of the Company or any of its Subsidiaries or bylaws of the Company or any of its Subsidiaries, (ii) conflict with, or constitute a default (or an event which with
notice or lapse of time or both would become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture or instrument to which the Company or any of its Subsidiaries is a
party, or (iii) result in a violation of any law, rule, regulation, order, judgment or decree (including foreign, federal and state securities laws and regulations and the rules and regulations of the principal market on which the Common Stock is
quoted or traded and including all applicable federal laws, rules and regulations) applicable to the Company or any of its Subsidiaries or by which any property or asset of the Company or any of its Subsidiaries is bound or affected except, in the
case of clause (ii) or (iii) above, to the extent such violations that could not reasonably be expected to have a Material Adverse Effect. 

(e) Neither the Company nor any Subsidiary is required to obtain any consent from, authorization or order of, or make any
filing or registration with (other than any filings as may be required by any federal and state securities laws), any governmental entity or other self-regulatory organization or body or any other Person in order for it to execute, deliver or
perform any of its respective obligations under or contemplated by this Agreement, in each case, in accordance with the terms hereof or thereof. All consents, authorizations, orders, filings and registrations which the Company or any Subsidiary is
required to obtain pursuant to the preceding sentence have been obtained or effected on or prior to the Closing Date, and neither the Company nor any of its Subsidiaries are aware of any facts or circumstances which might prevent the Company or any
of its Subsidiaries from obtaining or effecting any of the registration, application or filings contemplated by this Agreement. 

(f) Schedule I shall include a complete and final list of all of the Amended Warrants and the Company shall not have
entered into or otherwise agreed to any agreement, arrangement or understanding (including, without limitation, any purchase agreement, warrant amendment or other document) with, or issued securities to, or any Other Holders that would provide for
different (disproportional or otherwise) rights or consideration than what is being offered to the Holders hereunder nor shall there any be any side or other letters, agreements or understandings with any Other Holder not provided for in this
Agreement (adjusted ratably). The Company will file a supplement to the registration statements on Form S-1, Commission File Nos. 333-205757 and 333-196115 (as amended or supplemented 

  
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by any prospectus supplement, including post effective amendments) immediately following the Effective Date to disclose the transactions contemplated hereby, and shall maintain the effectiveness
of the registration statements and the availability of the prospectus included therein for the resale of the shares underlying the Amended Series A Warrants, Amended Series C Warrants, Amended Series D Warrants and Amended Series E
Warrants. The Company shall use its best efforts to cause such registration statements to remain available to the Holder following the date hereof. 

(g) Except as set forth in Schedule 6(g) hereof, the Company is not now, and following the Closing Date will not be,
liable for any brokerage, finder’s or solicitation fees or commissions with respect to the transactions contemplated by this Agreement.

(h) Except as set forth in Schedule 6(h) hereof, immediately after the consummation of the transactions contemplated by
this Agreement, the Company shall have no outstanding financial instruments that must be accounted for as derivative liabilities on its balance sheets having a value in an aggregate amount that exceed $50,000.

(i) The Company has filed all reports, schedules, forms, statements and other documents required to be filed by the Company
under the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof, for the two years preceding the date hereof (or such shorter period as the Company was required by law or regulation to file such material) (the foregoing materials,
including the exhibits thereto and documents incorporated by reference therein, being collectively referred to herein as the “SEC Documents”) on a timely basis or has received a valid extension of such time of filing and has filed
any such SEC Documents prior to the expiration of any such extension. As of their respective dates, the SEC Documents complied in all material respects with the requirements of the Exchange Act, and none of the SEC Documents, except as set forth in
Schedule 6(i) hereof, when filed, contained any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances
under which they were made, not misleading. The financial statements of the Company included in the SEC Documents comply in all material respects with applicable accounting requirements and the rules and regulations of the Commission with respect
thereto as in effect at the time of filing. Such financial statements have been prepared in accordance with United States generally accepted accounting principles applied on a consistent basis during the periods involved (“GAAP”),
except as may be otherwise specified in such financial statements or the notes thereto and except that unaudited financial statements may not contain all footnotes required by GAAP, and fairly present in all material respects the financial position
of the Company and its consolidated Subsidiaries as of and for the dates thereof and the results of operations and cash flows for the periods then ended, subject, in the case of unaudited statements, to normal, immaterial, year-end audit
adjustments. 
 (j) As of the date hereof, the authorized capital stock of the Company consists of (i) 500,000,000 shares of
Common Stock, of which 71,416,267 shares are issued and outstanding and 68,403,289 shares are reserved for issuance pursuant to securities exercisable or exchangeable for, or convertible into, shares of Common Stock (other than the securities issued
in connection with the PIPE) and (ii) 5,000,000 shares of preferred stock, of which, (A) 1,250,000 shares have been designated as Series A Preferred Stock, no such 

  
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shares being issued and outstanding, and (B) 1,500,000 shares have been designated as Series B Preferred Stock, no such shares being issued and outstanding. No shares of Common Stock are
held in treasury. All of such outstanding shares are duly authorized and have been, or upon issuance will be, validly issued and are fully paid and non-assessable. 21,123,675 shares of the Company’s issued and outstanding Common Stock
on the date hereof are owned by Persons who are “Affiliates” (as defined in Rule 405 of the 1933 Act and calculated based on the assumption that only officers, directors and holders of at least 10% of the Company’s issued and
outstanding Common Stock are “Affiliates” without conceding that any such Persons are “Affiliates” for purposes of federal securities laws) of the Company or any of its Subsidiaries. None of the Company’s or any
Subsidiary’s capital stock is subject to preemptive rights or any other similar rights or any liens or encumbrances suffered or permitted by the Company or any Subsidiary and, except as set forth in Schedule 6(j) hereof, there are no
outstanding options, warrants, scrip, rights to subscribe to, calls or commitments of any character whatsoever relating to, or securities or rights convertible into, or exercisable or exchangeable for, any capital stock of any of the Company or
Company’s Subsidiaries, or contracts, commitments, understandings or arrangements by which the Company or any of its Subsidiaries is or may become bound to issue additional capital stock of the Company or any of the Company’s Subsidiaries
or options, warrants, scrip, rights to subscribe to, calls or commitments of any character whatsoever relating to, or securities or rights convertible into, or exercisable or exchangeable for, any capital stock of the Company or any of its
Subsidiaries with an aggregate value that exceed $50,000. Except as set forth in the SEC Documents, (A) there are no outstanding debt securities, notes, credit agreements, credit facilities or other agreements, documents or instruments evidencing
Indebtedness of the Company or any of its Subsidiaries or by which the Company or any of its Subsidiaries is or may become bound; (B) there are no financing statements securing obligations in any amounts filed in connection with the Company or any
of its Subsidiaries; (C) there are no agreements or arrangements under which the Company or any of its Subsidiaries is obligated to register the sale of any of their securities under the 1933 Act, except as set forth in Schedule 6(j) hereto;
(D) there are no outstanding securities or instruments of the Company or any of its Subsidiaries which contain any redemption or similar provisions, and there are no contracts, commitments, understandings or arrangements by which the Company or any
of its Subsidiaries is or may become bound to redeem a security of the Company or any of its Subsidiaries; (E) except as set forth in Schedule 6(j) hereto, there are no securities or instruments containing anti-dilution or similar provisions
in an aggregate amount that exceed $50,000 that will be triggered by the issuance of the Securities; (F) neither the Company nor any Subsidiary has any stock appreciation rights or “phantom stock” plans or agreements or any similar plan or
agreement; and (G) neither the Company nor any of its Subsidiaries have any liabilities or obligations required to be disclosed in the SEC Documents which are not so disclosed in the SEC Documents, other than those incurred in the ordinary course of
the Company’s or its Subsidiaries’ respective businesses and which, individually or in the aggregate, do not or would not have a Material Adverse Effect. The SEC Documents contain true, correct and complete copies of the
Company’s Articles of Incorporation, as amended and as in effect on the date hereof, and the Company’s bylaws, as amended and as in effect on the date hereof, and the terms of all securities convertible into, or exercisable or exchangeable
for, shares of Common Stock and the material rights of the holders thereof in respect thereto. 
 (k) After giving effect to
the transactions contemplated by this Agreement, the Company has sufficient authorized shares of Common Stock to issue upon the conversion of all outstanding shares of the Company’s convertible securities, and the exercise of all Amended
Warrants and the Additional Warrants and all outstanding warrants as of the date hereof. 

  
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	7.	Representations and Warranties of the Holders. Each Holder represents, warrants and covenants to the Company as follows: 

(a) The Holder is either an individual or an entity duly incorporated or formed, validly existing and in good standing under
the laws of the jurisdiction of its incorporation or formation with full capacity, right, corporate, partnership, limited liability company or similar power and authority, as applicable, to enter into and to consummate the transactions contemplated
by this Agreement and otherwise to carry out its obligations hereunder. The execution and delivery of this Agreement and performance by the Holder of the transactions contemplated by this Agreement have been duly authorized by all necessary
corporate, partnership, limited liability company or similar action, as applicable, on the part of the Holder. This Agreement has been duly executed by the Holder, and when delivered by the Holder in accordance with the terms hereof, will constitute
the valid and legally binding obligation of the Holder, enforceable against it in accordance with its terms, except: (i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of
general application affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies and (iii) insofar as indemnification and
contribution provisions may be limited by applicable law. 
 (b) The Holder is acquiring the Additional Shares and Warrants
hereunder as principal for its own account and has no direct or indirect arrangement or understandings with any other persons to distribute or regarding the distribution of such Additional Shares and Warrants (this representation and warranty not
limiting the Holder’s right to sell the Additional Shares and Warrants in compliance with applicable federal and state securities laws). The Holder is acquiring the Additional Shares and Warrants hereunder in the ordinary course of its
business. 
 (c) The Holder understands that the Additional Shares and Warrants are being offered and sold to in reliance
upon specific exemptions from the registration requirements of the Securities Act and state securities laws and that the Company is relying upon the truth and accuracy of, and the Holder’s compliance with, the representations, warranties,
covenants, agreements, acknowledgments and understandings of the Holder contained in this Agreement in order to determine the availability of such exemptions and the eligibility of the Holder to acquire the Additional Shares and Warrants. 

(d) The Holder understands that its investment in the securities of the Company hereunder involves a significant degree of
risk, and the Holder has full cognizance of and understands all of the risk factors related to its purchase of the Additional Shares and Warrants, including, but not limited to, those risk factors including in the SEC Documents. The Holder
understands that no representation is being made as to the future value of the Additional Shares and Warrants. 

  
 10 

 (e) At the time the Holder was offered the Shares hereunder, it was, and as of
the date hereof it is, either: (i) an “accredited investor” as defined in Rule 501 of Regulation D promulgated under the Securities Act or (ii) a “qualified institutional buyer” as defined in Rule 144A under the Securities Act.
The Holder is not required to be registered as a broker-dealer under Section 15 of the Exchange Act. 
 (f) The Holder,
either alone or together with its representatives, has such knowledge, sophistication and experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment in the Additional Shares and
Warrants, and has so evaluated the merits and risks of such investment. The Holder is able to bear the economic risk of an investment in the Additional Shares and Warrants and, at the present time, is able to afford a complete loss of such
investment. 
 (g) The Holder owns (i) a number of Series A Warrants, Series D Warrants and Series E Warrants equal to the
number of Amended Series A Warrants, Amended Series D Warrants and Amended Series E Warrants reflected on Schedule I attached hereto, and (ii) a number of Series C Warrants equal to the aggregate number of Amended Series C Warrants, if any, and
Series C Warrants being exercised simultaneous herewith, both as reflected on Schedule I attached hereto.
 The representations and warranties of the Holder
shall in no way limit or modify the representations and warranties of the Company set forth in Section 5. 
  

	8.	Further Covenants. The Company hereby covenants and agrees that: 

(a) On or before 9:00 a.m., New York time, on the first (1st) Business Day
following the execution of this Agreement by the Company and the Holders, the Company shall file a Current Report on Form 8-K, including the form of this Agreement and all exhibits to this Agreement as exhibits thereto (the “8-K
Filing”), with the Commission in the form required by the Securities Exchange Act of 1934, as amended (the “1934 Act”). From and after the 8-K Filing, the Company represents to the Holders that it shall have publicly
disclosed all material, non-public information delivered to any of the Holders by the Company or any of its Subsidiaries, or any of their respective officers, directors, employees or agents. In addition, effective upon the 8-K Filing, the
Company acknowledges and agrees that any and all confidentiality or similar obligations under any agreement, whether written or oral, between the Company, any of its Subsidiaries or any of their respective officers, directors, agents, employees or
Affiliates on the one hand, and any of the Holders or any of their Affiliates on the other hand, shall terminate.
 (b)
Following the consummation of the transactions contemplated by this Agreement and the Company’s raising a minimum of $2.0 million in gross proceeds in the concurrent PIPE offering being conducted by Katalyst Securities LLC and GP Nurmenkari,
Inc. (the “PIPE”), the Company shall use its best efforts to have its Common Stock approved for listing on the NASDAQ Capital Market.

  
 11 

 (c) No later than the sixth trading day following the Closing Date, the
Company (A) shall have its Board of Directors adopt the appropriate resolutions to effect a reverse stock split of the shares of common stock of the Company, in such ratio as shall be determined by the Board of Directors of the Company (the
“Reverse Stock Split”), so that the bid price of the common stock of the Company will comply with the NASDAQ Capital Market’s minimum bid price requirement for initial listing at the effective time of the Reverse Stock Split,
and (B) shall submit to the Financial Industry Regulatory Authority, Inc. (FINRA) an application to effect the Reverse Stock Split no later than 40 days following the Closing Date. The Holder acknowledges that the Company will need to effect the
Reverse Stock Split in order to list its Common Stock on the NASDAQ Capital Market. 
 (d) Following the Reverse Stock Split,
based on the various ratios indicated in the table below (without taking into account additional new stockholders who participated in the PIPE), the Company expects to have such number of Round Lot Holders (as such term is defined by NASDAQ) as
indicated in the table below: 
  

			
	 Ratio
	  	 Round Lot Holders

		
	1-for-5	  	3,193
		
	1-for-10	  	2,749
		
	1-for-15	  	2,050
		
	1-for-20	  	2,050
		
	1-for-25	  	1,656

 (e) Based on the budget which was provided by the Company to NASDAQ in connection with its
initial listing application, the Company needs approximately $9,246,461 in working capital to fund its current level of operations and expenditures pursuant to its business plan for at least from August 1, 2016 through December 31, 2017. 

[(f) [TO BE ADDED TO IROQUOIS AGREEMENT ONLY]As promptly as practicable following the execution of this Agreement, the Board of
Directors of the Company shall take all necessary actions to appoint Mr. Joshua Silverman as a member of the Board of Directors, provided that pursuant to the Company’s background check, none of the events enumerated in Item 401(f) of
Regulation S-K of the Securities Act of 1933, as amended, are applicable to Mr. Silverman.] 
  

	9.	 Leak-Out Restrictions. Each of the Holders agrees that for a period commencing on the date hereof and
ending three (3) Trading Days following the listing of the Common Stock on the NASDAQ Capital Market (the “Leak-Out Period”), the Holder agrees, on behalf of itself and each affiliate (as defined in Rule 405 under the Securities
Act) of such holder which (x) had knowledge of the transactions contemplated hereby, (y) has or shares discretion relating to such Holder’s investments or trading or information concerning such Holder’s

  
 12 

	 	
investments, including in respect of the securities issuable hereunder, or (z) is subject to such Holder’s review or input concerning such affiliate’s investments or trading
(collectively, “Trading Affiliates”), not to sell, dispose or otherwise transfer shares of Common Stock on any Trading Day during the Leak-Out Period and further agrees, on behalf of itself and each Trading Affiliates, that for a
period commencing on the date following the expiration of the Leak-Out Period and ending 30 Trading Days thereafter, it will not sell, dispose or otherwise transfer shares of Common Stock which represent more than five percent (5%) of the
Company’s daily trading volume; provided, however, that these trading restrictions shall not apply to any sale, disposal or other transfer at a price at or greater than $0.75 (appropriately adjusted for any stock split,
reverse stock split, stock dividend or other reclassification or combination of the Common Stock occurring after the date hereof). As used herein, “Trading Day” means a day on which the principal Trading Market is open for trading
and “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 MKT, the NASDAQ Stock Market, the New York Stock Exchange, OTCQB or
OTCQX (or any successors to any of the foregoing). It is hereby agreed between the parties that the restrictions contained in this Section 9 shall be terminated if the NASDAQ Stock Market LLC does not approve the Company’s application for
initial listing of its Common Stock on the NASDAQ Capital Market by October 30, 2016. 

  

	10.	Closing Conditions. 

  

	 	(a)	Holder’s Closing Conditions. Each Holder’s obligations to consummate the transactions contemplated hereby are subject to satisfaction or waiver, in the discretion of the Holder, of the following
conditions: 

  

	 	(1)	the Company shall have executed and delivered to each of the Holders this Agreement; 

  

	 	(2)	a legal opinion of the Company’s counsel, in form and substance reasonably satisfactory to the Holders, shall have been delivered to each of the Holders; 

 

	 	(3)	a copy of the irrevocable instructions to the Transfer Agent instructing the Transfer Agent to deliver, on an expedited basis, a certificate evidencing a number of the Additional Shares, registered in the name of the
Holders in accordance with Schedule I hereto, shall have been delivered to the Holders; 

  

	 	(4)	Series F Warrants, in the form attached hereto as Exhibit B, registered in the name of each of the Holders in accordance with Schedule I hereto and executed by the Company, with an exercise price equal to
$0.60, subject to adjustment therein shall have been electronically delivered to the Holders (such Warrant certificate shall be delivered physically to the Holder within three (3) Trading Days of the Closing Date); 

 

	 	(5)	 Amended Series A Warrants, Amended Series C Warrants, Amended Series D Warrants and Amended Series E Warrants, in
the forms attached hereto as Exhibit A-1, Exhibit A-2, Exhibit A-3 and Exhibit A-4, respectively, registered in the 

  
 13 

	 	
name of each of the Holders in accordance with Schedule I hereto and executed by the Company , shall have been electronically delivered to the Holders (such warrant certificates shall be
delivered physically to the Holder within three (3) Trading Days of the Closing Date); 

  

	 	(6)	the registration statements on Form S-1, Commission File Nos. 333-205757 and 333-196115 (as amended or supplemented by any prospectus supplement, including post effective amendments) shall remain effective and available
for the resale of the shares underlying the Amended Series A Warrants, Amended Series C Warrants and Amended Series D Warrants and Amended Series E Warrants immediately following the Closing Date; 

 

	 	(7)	the accuracy in all material respects (or to the extent representations or warranties are qualified by materiality or material adverse effect, in all respects) when made and on the Closing Date of the representations
and warranties of the Company contained herein (unless as of a specific date therein, in which case they shall be true and correct as of such date); 

  

	 	(8)	each of the Other Holders shall have executed and delivered to the Company an agreement, in the form substantially identical to this Agreement; 

 

	 	(9)	the Company shall have raised at least $2.0 million in gross proceeds in the PIPE; and 

  

	 	(10)	the Holders and the Other Holders shall have exercised an aggregate of 12 million series C Warrants and Series C-1 Warrants, at the exercise price of $0.50 per share.

  

	 	(b)	Company Closing Conditions. The Company’s obligation to consummate the transactions contemplated hereby are subject to satisfaction or waiver, in the discretion of the Company, of the following
conditions: 

  

	 	(1)	each Holder shall have executed and delivered to the Company this Agreement; 

  

	 	(2)	each of the Other Holders (other than Eastern Capital Limited) shall have executed and delivered to the Company an agreement, in the form substantially identical to this Agreement; 

 

	 	(3)	Eastern Capital Limited shall have entered into an agreement in the form substantially identical to this Agreement providing for the same modifications to the Series A-1 Warrants, Series C-1 Warrants, Series D-1
Warrants and Series E-1 Warrants held by it; and 

  

	 	(4)	 the Holders and the Other Holders shall have exercised an aggregate of 12.0 million Series C Warrants and Series
C-1 Warrants, as applicable, at the exercise price of $0.50 per share, and the exercise price shall be delivered in accordance with the exercise notices to (i) the Company or (ii) Delaware Trust Company, to be held pursuant to the Escrow Agreement,
dated July 19, 2016, as amended by 

  
 14 

	 	
the First Amendment dated July 29, 2016, by and among the Company, Delaware Trust Company, Katalyst Securities, LLC and GP Nurmenkari Inc., on or prior to the business day following the date of
exercise. 

  

	11.	Taxes. Each Holder has reviewed with its own tax advisors the federal, state, local and foreign tax consequences of the transactions contemplated by this Agreement. Each Holder is relying solely on such
advisors and not on any statements or representations of the Company or any of its agents. Each Holder understands that it (and not the Company) shall be responsible for the Holder’s own tax liability that may arise as a result of the
transactions contemplated by this Agreement, but the Company shall be responsible for any transfer taxes in connection with the amendment of the Amended Warrants (and the issuance of any shares issuable thereunder) and the issuance of the Additional
Shares and the Additional Warrants (and any shares issuable thereunder). 

  

	12.	Miscellaneous. 

 (a) Governing Law; Jurisdiction; Jury Trial. All
questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by the internal laws of the State of New York, without giving effect to any choice of law or conflict of law provision or rule
(whether of the State of New York or any other jurisdictions) that would cause the application of the laws of any jurisdictions other than the State of New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and
federal courts sitting in The City of New York, Borough of Manhattan, 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 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 to such party at the address for such 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. EACH
PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY. 

(b) Counterparts. This Agreement may be executed in two or more identical counterparts, all of which shall be considered
one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party. In the event that any signature is delivered by facsimile transmission or by an e-mail which contains a portable
document format (.pdf) file of an executed signature page, such signature page shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such signature
page were an original thereof. 

  
 15 

 (c) Headings; Gender. The headings of this Agreement are for convenience
of reference and shall not form part of, or affect the interpretation of, this Agreement. Unless the context clearly indicates otherwise, each pronoun herein shall be deemed to include the masculine, feminine, neuter, singular and plural forms
thereof. The terms “including,” “includes,” “include” and words of like import shall be construed broadly as if followed by the words “without limitation.” The terms “herein,” “hereunder,”
“hereof” and words of like import refer to this entire Agreement instead of just the provision in which they are found. 

(d) Severability. If any provision of this Agreement is prohibited by law or otherwise determined to be invalid or
unenforceable by a court of competent jurisdiction, the provision that would otherwise be prohibited, invalid or unenforceable shall be deemed amended to apply to the broadest extent that it would be valid and enforceable, and the invalidity or
unenforceability of such provision shall not affect the validity of the remaining provisions of this Agreement so long as this Agreement as so modified continues to express, without material change, the original intentions of the parties as to the
subject matter hereof and the prohibited nature, invalidity or unenforceability of the provision(s) in question does not substantially impair the respective expectations or reciprocal obligations of the parties or the practical realization of the
benefits that would otherwise be conferred upon the parties. The parties will endeavor in good faith negotiations to replace the prohibited, invalid or unenforceable provision(s) with a valid provision(s), the effect of which comes as close as
possible to that of the prohibited, invalid or unenforceable provision(s). 
 (e) Entire Agreement; Amendments. This
Agreement, the other transaction documents and the schedules and exhibits attached hereto and the instruments referenced herein and therein supersede all other prior oral or written agreements between the Holders, the Company, its Subsidiaries,
their affiliates and Persons acting on their behalf solely with respect to the matters contained herein and therein, and this Agreement, the other transaction documents, the schedules and exhibits attached hereto and thereto and the instruments
referenced herein and therein contain the entire understanding of the parties solely with respect to the matters covered herein and therein; provided, however, except as specifically set forth herein, nothing contained in this Agreement or any other
transaction document shall (or shall be deemed to) (i) have any effect on any agreements a Holder has entered into with, or any instruments a Holder has received from, the Company or any of its Subsidiaries prior to the date hereof with respect to
any prior investment made by such Holder in the Company or (ii) waive, alter, modify or amend in any respect any obligations of the Company or any of its Subsidiaries, or any rights of or benefits to a Holder or any other Person, in any agreement
entered into prior to the date hereof between or among the Company and/or any of its Subsidiaries and a Holder, or any instruments such Holder received from the Company and/or any of its Subsidiaries prior to the date hereof, and all such agreements
and instruments shall continue in full force and effect. Except as specifically set forth herein or therein, neither the Company nor a Holder makes any representation, warranty, covenant or undertaking with respect to such matters. For clarification
purposes, the Recitals are part of this Agreement. No provision of this Agreement may be amended other than by an instrument in writing signed by the Company and each Holder. No waiver shall be effective unless it is in writing and signed by an
authorized representative of the waiving party. As a material inducement for each Holder to enter into this Agreement, the Company expressly acknowledges and agrees that (i) no due diligence or other investigation or inquiry conducted

  
 16 

 
by the Holder, any of its advisors or any of its representatives shall affect the Holder’s right to rely on, or shall modify or qualify in any manner or be an exception to any of, the
Company’s representations and warranties contained in this Agreement and (ii) unless a provision of this Agreement is expressly preceded by the phrase “except as disclosed in the SEC Documents,” nothing contained in any of the SEC
Documents shall affect a Holder’s right to rely on, or shall modify or qualify in any manner or be an exception to any of, the Company’s representations and warranties contained in this Agreement. 

(f) Notices. Any notices, consents, waivers or other communications required or permitted to be given under the terms of
this Agreement must be in writing and will be deemed to have been delivered: (i) upon receipt, when delivered personally; (ii) upon receipt, when sent by facsimile (provided confirmation of transmission is mechanically or electronically generated
and kept on file by the sending party) or by electronic mail; or (iii) one (1) business day after deposit with an overnight courier service with next day delivery specified, in each case, properly addressed to the party to receive the same. The
addresses and facsimile numbers for such communications shall be as follows. 
 If to the Holders at the last address on record with the
Company: 
 If to the Company at: 

50 N. Laura Street, Suite 2500 

Jacksonville, Florida 

Attention: Chief Executive Officer 

Phone: 904-516-5436 
 Email:
gwilson@tapimmune.com 
 with a copy to: 

Shumaker, Loop & Kendrick, LLP 

101 E. Kennedy Blvd., Suite 2800 

Tampa, Florida 33602 
 Attention:
Mark A. Catchur, Esq. 
 Phone: 813-229-7600 

Fax: 813-229-1660 
 Email:
mcatchur@slk-law.com 
 or to such other address and/or facsimile number and/or to the attention of such other Person as the recipient party has
specified by written notice given to each other party five (5) days prior to the effectiveness of such change. Written confirmation of receipt (A) given by the recipient of such notice, consent, waiver or other communication, (B) mechanically or
electronically generated by the sender’s facsimile machine containing the time, date, recipient facsimile number and an image of the first page of such transmission or (C) provided by an overnight courier service shall be rebuttable evidence of
personal service, receipt by facsimile or receipt from an overnight courier service in accordance with clause (i), (ii) or (iii) above, respectively. 

  
 17 

 (g) Successors and Assigns. This Agreement shall be binding upon and inure
to the benefit of the parties and their respective successors and permitted assigns, including any assignee of any of the securities issuable hereunder. The Company shall not assign this Agreement or any rights or obligations hereunder without the
prior written consent of each Holder. Provided a Holder provides the Company with written notice thereof, a Holder may assign some or all of its rights hereunder in connection with any transfer of any of the securities issuable hereunder without the
consent of the Company, in which event such assignee shall be deemed to be a holder hereunder with respect to such assigned rights, provided such assignment is in compliance with applicable securities laws. 

(h) Expenses. The Company shall pay the legal fees in connection with the transactions contemplated hereby as set forth
in Schedule 12(h) hereto. 
 (i) No Third Party Beneficiaries. This Agreement is intended for the benefit of the
parties hereto and their respective permitted successors and permitted assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other Person. 

(j) Survival. The representations, warranties, agreements and covenants shall survive the Effective Date. 

(k) Further Assurances. Each party shall do and perform, or cause to be done and performed, all such further acts and
things, and shall execute and deliver all such other agreements, certificates, instruments and documents, as any other party may reasonably request in order to carry out the intent and accomplish the purposes of this Agreement and the consummation
of the transactions contemplated hereby. 
 (l) Construction. The language used in this Agreement will be deemed to be
the language chosen by the parties to express their mutual intent, and no rules of strict construction will be applied against any party. No specific representation or warranty shall limit the generality or applicability of a more general
representation or warranty. 
 (m) Independent Nature of Holder’s Obligations and Rights. The obligations of
each Holder under this Agreement are several and not joint with the obligations of any Other Holder, and no Holder shall be responsible in any way for the performance of the obligations of any Other Holder under this Agreement. Nothing
contained herein or in the Securities Purchase Agreement or in any other transaction documents relating hereto and thereto, and no action taken by any Holder pursuant hereto or thereto, shall be deemed to constitute the Holders as, and the Company
acknowledges that the Holders do not so constitute, a partnership, an association, a joint venture or any other kind of group or entity, or create a presumption that the Holders are in any way acting in concert or as a group or entity with respect
to such obligations or the transactions contemplated by the Securities Purchase Agreement or the transaction documents relating thereto, and the Company acknowledges that the Holders are not acting in concert or as a group, and the Company shall not
assert any such claim, with respect to such obligations or the transactions contemplated by this Agreement, the Securities Purchase Agreement or the transaction documents relating hereto or thereto. The decision of each Holder to enter into this
Agreement and to effectuate the transactions contemplated by this Agreement has been made by such Holder independently 

  
 18 

 
of any Other Holder. Each Holder acknowledges that no Other Holder has acted as agent for such Holder in connection with such Holder making its decision to enter into this Agreement or
effectuating the transactions contemplated hereby and hereunder and that no Other Holder will be acting as agent of such Holder in connection with monitoring such Holder’s investment in the Securities or enforcing its rights under this
Agreement, the Securities Purchase Agreement or the transaction documents relating thereto. The Company and each Holder confirms that each Holder has independently participated with the Company in the negotiation of the transactions
contemplated hereby with the advice of its own counsel and advisors. Each Holder shall be entitled to independently protect and enforce its rights, including, without limitation, the rights arising out of this Agreement or out of any other
transaction document, and it shall not be necessary for any Other Holder to be joined as an additional party in any proceeding for such purpose. The use of a single agreement to effectuate the transactions contemplated herein and hereby was
solely in the control of the Company, not the action or decision of any Holder, and was done solely for the convenience of the Company and not because it was required or requested to do so by any Holder. It is expressly understood and agreed
that each provision contained in this Agreement and the transaction documents relating thereto is between the Company and a Holder, solely, and not between the Company and the Holders collectively and not between and among the Holders. 

[The next pages are the signature pages] 

  
 19 

 IN WITNESS WHEREOF, the undersigned have executed this Warrant Amendment Agreement as of
the date first written above. 
  

	
	 COMPANY:

	
	 TAPIMMUNE INC.

	
	 By:

	 Name:

	 Title:

	
	 HOLDER:

	
	 By:

	 Name:

	 Title:

 [Signature Page - Warrant Amendment Agreement] 

  
 20 

 EXHIBIT A-1 

Amended Series A Warrants 

  
 21 

 EXHIBIT A-2 

Amended Series C Warrants 

  
 22 

 EXHIBIT A-3 

Amended Series D Warrants 

  
 23 

 EXHIBIT A-4 

Amended Series E Warrants 

  
 24 

 EXHIBIT B 

Form of Series F Warrants 

  
 25 

 Schedule I1/ 
  

																													
	 Holder
	  	Number of
Series C
Warrants
Being
Exercised	 	  	Number of
Additional
Shares	 	  	Number of
Series F
Warrants	 	  	Number of
Amended
Series A
Warrants	 	  	Number of
Amended Series
C Warrants	 	  	Number of
Amended Series
D Warrants	 	  	Number of
Amended
Series E
Warrants	 
		  				  				  				  				  				  				  			
		  				  				  				  				  				  				  			
		  				  				  				  				  				  				  			
		  				  				  				  				  				  				  			

  

	1/ 	NTD: each investor group will have a separate agreement with the company and therefore Schedule I will only include information regarding such investor group’s entities. 

  
 26 

 EXHIBIT C 

EXERCISE NOTICE 

TAPIMMUNE INC. 
 The
undersigned holder (the “Holder”) hereby exercises the right to purchase                  shares of common stock (“Warrant Shares”) of
TapImmune Inc., a Nevada corporation (the “Company”), pursuant to that certain Series C Warrant originally issued on January 12, 2015, as amended (the “Warrant”). Capitalized terms used herein and not
otherwise defined shall have the respective meanings set forth in the Warrant. 
 In consideration of the Company entering into that certain
Warrant Amendment Agreement of even date herewith with the Holder (the “Warrant Amendment Agreement”) and subject to the satisfaction or waiver by Holder of the conditions set forth in Section 10(a) of the Warrant Amendment
Agreement, the Holder agrees to pay the aggregate exercise price in the sum of $         to the Company in accordance with the terms of the Warrant not later than 2 p.m. on the first business day hereafter in
cash or via wire transfer of immediately available funds.
 The Holder acknowledges that the Company will enter into other agreements with
other third parties and incur substantial obligations thereunder in reliance upon the Holder’s execution of this exercise notice, and agrees that the exercise of the Warrant for the number of Warrant Shares set forth above upon the terms set
forth herein shall be irrevocable. 
 The Company shall deliver to the Holder, or its designee or agent as specified below, shares of Common
Stock in respect of the exercise contemplated hereby. Delivery shall be made to the undersigned holder, or for its benefit, to the following address: 
  

	
	  

	
	  

	
	  

  

					
	Date:	 	August     , 2016
	
	Name of Registered Holder
		
	By:	 	  

	Name:	 		 	
	Title:	 		 	

  

					
	Account	 		  	
	Number:	 	  
	  	

(if shares are delivered by electronic book entry transfer) 

Transaction Code 

					
	Number:	 	  
	  	

 (if shares are delivered by electronic book entry transfer) 

  
 27Agency Agreement

 Exhibit 10.4 

KATALYST SECURITIES LLC 

1330 AVENUE OF THE AMERICAS, 14TH FLOOR 

NEW YORK, NY 10019 

TEL: 212-400-6993 

Member: FINRA & SIPC 

GP NUREMENKARI INC. 
 18
EAST 41ST STREET, SUITE 1902 
 NEW YORK, NY 10017 

TEL: 212-447-5550 

Member: FINRA & SIPC 

AGENCY AGREEMENT 
 July 21, 2016 

Mr. Glynn Wilson, Ph.D 
 Chief Executive Officer 

TapImmune Inc. 
 50 North Laura Street 

Suite 2500 
 Jacksonville, FL 32202 

Re: Private placement offering of TapImmune Inc. Units and Exercise of Series C Warrants and Series C-1 Warrants 

Dear Mr. Wilson: 
 This Placement Agency
Agreement (“Agreement”) sets forth the terms upon which Katalyst Securities LLC (“Katalyst”) and GP Nurmenkari Inc. (“GPN”), both registered broker-dealers and members of the Financial Industry Regulatory Authority
(“FINRA”) (hereinafter referred to as the “Agents”), shall be engaged by TapImmune Inc., a publicly traded Nevada corporation (hereinafter referred to as the “Company”), to act as independent Agents. Each of the
Agents shall be engaged by the Company in connection with the private placement (the “Offering”) of the securities of the Company referred to below (the “Securities”), and GPN shall be engaged by the Company in connection with
the exercise of up to Six Million Dollars ($6,000,000) of Series C Warrants and Series C-1 Warrants held by certain warrant holders of the Company (the “Warrant Exercise”). The initial closing of the Offering will be conditioned upon
and acceptance of subscriptions for the Minimum Amount (as defined below) and the certain other conditions described herein.
 1.
Appointment of Agents.
 (a) On the basis of the written and documented representations and warranties of the Company
provided herein, and subject to the terms and conditions set forth herein, the Company hereby appoints (i) each Agent as an Agent of the Company during the Offering Period (as defined in Section 1(b) below) to assist the Company in finding qualified
subscribers for the Offering and (ii) GPN as an Agent of the Company during the Offering Period to assist the Company with its solicitation of certain of the warrant holders to participate in the Warrant Exercise and to modify other warrants
(the “Warrant Modification”) as described in Section 4(c) of the Subscription Agreement (as defined herein). Katalyst may offer the Securities through other broker-dealers who are FINRA members (collectively, the “Sub
Agents”) and may reallow all or a portion of Katalyst’s Broker Compensation (as defined in Section 3A below) it receives to such other Sub Agents or pay a finders or consultant fee as allowed by 

  
  

			
	Placement Agency Agreement (PIPE)	  	Page 1

 
applicable law. On the basis of such representations and warranties and subject to such terms and conditions, the Agents hereby accept such appointment and agree to perform the services
hereunder diligently and in good faith and in a professional and businesslike manner and in compliance with applicable law and to use its reasonable best efforts to assist the Company in finding subscribers of the Securities who qualify as
“accredited investors,” as such term is defined in Rule 501 of Regulation D. The Agents have no obligation to purchase any of the Securities or sell any Securities. Unless sooner terminated in accordance with this Agreement, the
engagement of each Agent pursuant to subclause (i) above shall continue until the later of the Termination Date or the Final Closing (as defined below) and the engagement of GPN hereunder shall continue until the earlier of one-year from the date
hereof or completion of the Warrant Exercise and the Warrant Modification. The Offering is currently anticipated to be the private placement of Units (“Units”), with each Unit consisting of (i) one share of the Company’s common stock
(the “Common Stock”), par value $0.001 (each, a “Share”) and (ii) one warrant to purchase one share of Common Stock with an exercise price equal to 125% of the Purchase Price (defined below) (each, a “Warrant” and
collectively with the Shares, the Warrant Shares (as defined herein) and the Units, the “Securities”). The Offering is for a minimum of gross proceeds of Two Million Dollars ($2,000,000) (the “Minimum Offering”) and a maximum of
gross proceeds of Four Million Dollars ($4,000,000 (the “Maximum Offering”) through the sale of the Units, with an over-subscription option up to an additional One Million Dollars ($1,000,000). The offering price per Unit will be the
lesser of (i) 90% of the weighted average closing prices of the Common Stock for the five (5) trading days preceding Thursday, July 28, 2016, and (ii) Fifty Cents ($0.50) (the “Purchase Price”). The minimum subscription is
Twenty Five Thousand Dollars ($25,000), provided, however, that subscriptions in lesser amounts may be accepted by the Company in its sole discretion. 

(b) Placement of the Securities by the Agents will be made on a reasonable best efforts basis. The Company agrees and acknowledges that
the Agents are not acting as an underwriter with respect to the Offering or Warrant Exercise, and the Company shall determine the purchasers in the Offering in its sole discretion. The Securities will be offered by the Company to potential
subscribers, which may include related parties of the Agents or the Company, commencing on August 3, 2016 (the “Initial Offering Period”), which date may be extended by the Company and the Agents for a period of up to 30 days from the date
of the Initial Closing (as defined below) (this additional period and the Initial Offering Period shall be referred to as the “Offering Period”). The date on which the Offering is terminated shall be referred to as the
“Termination Date”. The closing of the Offering may be held up to ten days after the Termination Date. 
 (c) The Company
shall only offer securities to and accept subscriptions from or sell Securities to, persons or entities that qualify as (or are reasonably believed to be) “accredited investors,” as such term is defined in Rule 501(a) of Regulation D
(“Regulation D”) as promulgated by the United States Securities and Exchange Commission (the “SEC”) under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Act”).

(d) The offering of Securities will be made by each Agent on behalf of the Company solely pursuant to the Subscription Agreement and the
Exhibits to the Subscription Agreement, including, but not limited to, and to the extent applicable, a Registration Rights Agreement, the Warrant and any documents, agreements, supplements and additions thereto (collectively, the “Subscription
Documents”), which at all times will be in form and substance reasonably acceptable to the Company and each Agent and their counsel and contain such legends and other information as the Company, the Agents and their counsel, may, from time to
time, deem necessary and desirable to be set forth therein. 
 (e) With respect to the Offering, the Company shall provide the Agents, on
terms set forth herein, the right to offer all of the available Securities being offered during the Offering Period (subject to prior offer and sale of some of the Securities). It is understood that no sale shall be regarded as effective unless and
until accepted by the Company. The Company may, in its sole discretion, accept or reject, in whole or in part, any prospective investment in the Securities or allot to any prospective 

  

			
	Agency Agreement (PIPE and Warrant Exercise)	  	Page 2

 
subscriber less than the number of Securities that such subscriber desires to purchase. Purchases of Securities may be made by the Agents and any selected sub-dealers and their respective
officers, directors, employees and affiliates and by the officers, directors, employees and affiliates of the Company (collectively, the “Affiliates”) for the Offering and such purchases will be made by the Affiliates based solely upon the
same information that is provided to the investors in the Offering. 
 2. Representations, Warranties and Covenants.

 A. Representations, Warranties and Covenants of the Company. The Company hereby represents and warrants to the Agents that,
except as otherwise set forth in the Company’s SEC Filings (as defined in Section 2(A)(b) below) immediately prior to the closing of the transactions contemplated hereby, each of the representations and warranties contained in this Section 2 is
true in all respects as of the date hereof and will be true in all respects as of the Closing Date and any subsequent Closing Dates, as defined under Section 4(e). In addition to the representations and warranties set forth herein, the Agents shall
be entitled to rely upon the representations and warranties made or given by the Company to any acquirer of Securities in the Offering in any agreement, certificate, legal opinion or otherwise in connection with an Offering. For purposes of this
Section 2(A), the term Company includes all of the Company’s subsidiaries (if any). 
 (a) The Subscription Documents have been and/or
will be prepared by the Company, in conformity with all applicable laws, and in compliance with Regulation D and/or Section 4(a)(2) of the Act and the requirements of all other rules and regulations (the “Regulations”) of the SEC relating
to offerings of the type contemplated by the Offering, and the applicable securities laws and the rules and regulations of those jurisdictions wherein the Agents notify the Company that the Securities are to be offered and sold (including U.S.
states). The Securities will be offered and sold pursuant to the registration exemption provided by Regulation D and/or Section 4(a)(2) of the Act as a transaction not involving a public offering and the requirements of any other applicable state
securities laws and the respective rules and regulations thereunder in those United States jurisdictions in which the Agents notify the Company that the Securities are being offered for sale. None of the Company, its predecessors or its affiliates,
or any person acting on its or their behalf (other than the Agents, their affiliates or any person acting on their behalf, in respect of which no representation is made) has taken nor will it take any action that conflicts with the conditions and
requirements of, or that would make unavailable with respect to the Offering, the exemption(s) from registration available pursuant to Rule 506(b) of Regulation D and/or Section 4(a)(2) of the Act and applicable state securities laws, or knows of
any reason why any such exemption would be otherwise unavailable to it). Neither the Company, nor any of its affiliates, nor any person acting on its or their behalf, has directly or indirectly made any offers or sales of any security or solicited
any offers to buy any security under circumstances that would require registration under the Act of the issuance of the Securities or the Brokers Warrants (as hereinafter defined). None of the Company, its predecessors or affiliates has been subject
to any order, judgment or decree of any court of competent jurisdiction temporarily, preliminarily or permanently enjoining such person for failing to comply with Section 503 of Regulation D or the equivalent state securities law requirements. The
Company has not, for a period of six months prior to the commencement of the Offering sold, offered for sale or solicited any offer to buy any of its securities in a manner that would be integrated with the offer and sale of the Securities pursuant
to this Agreement, would cause the exemption from registration set forth in Rule 506 of Regulation D and state securities laws to become unavailable with respect to the offer and sale of the Securities to this Agreement in the United States. The
Shares, and the shares issued upon the exercise of the Warrants will be quoted on the OTCQB or the Nasdaq Stock Market (the “Principal Market”). The Company has taken no action designed to, or likely to have the effect of,
terminating the quotation of the Common Stock on the Principal Market. The Company, on the Closing Date, will be in compliance with all of the then-applicable requirements for continued quotation of the Common Stock on the Principal Market.

  

			
	Agency Agreement (PIPE and Warrant Exercise)	  	Page 3

 (b) The Subscription Documents, as prepared and contemplated by the Company, will not and do not
include any 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 light of the circumstances under which they were made, not misleading. To the
knowledge of the Company, none of the statements, documents, certificates or other items made, prepared or supplied by the Company with respect to the transactions contemplated hereby contains an untrue statement of a material fact or omits to state
a material fact necessary to make the statements contained therein not misleading in light of the circumstances in which they were made. There is no fact which the Company has not disclosed in the Subscription Documents or which is not
disclosed in the filings (the “SEC Filings”) that the Company makes with the SEC and of which the Company is aware that materially adversely affects or that could reasonably be expected to have a material adverse effect on the (i) assets,
liabilities, results of operations, condition (financial or otherwise), business or business prospects of the Company or (ii) ability of the Company to perform its obligations under this Agreement and the other Subscription Documents (the
“Company Material Adverse Effect”). Notwithstanding anything to the contrary herein, the Company makes no representation or warranty with respect to any estimates, projections and other forecasts and plans (including the
reasonableness of the assumptions underlying such estimates, projections and other forecasts and plans) that may have been delivered to the Agents or their respective representatives, except that such estimates, projections and other forecasts and
plans have been prepared in good faith on the basis of assumptions stated therein, which assumptions were believed to be reasonable at the time of such preparation. Other than the Company’s SEC Filings, the Company has not distributed and
will not distribute prior to the Closing any offering material in connection with the offering and sale of the Securities, unless such offering materials are provided to the Agents prior to or simultaneously with such delivery to the offerees of the
Securities. 
 (c) The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Nevada
and is qualified and in good standing as a foreign corporation in each jurisdiction in which the nature of the business conducted by the Company or the property owned or leased by the Company requires such qualification, except to the extent that
the failure to be so qualified or be in good standing would not have a Company Material Adverse Effect. The Company has all requisite corporate power and authority to conduct its business as presently conducted and as proposed to be conducted
(as described in the Subscription Documents and/or the SEC Filings), has all the necessary and requisite documents and approvals from all state authorities, has all requisite corporate power and authority to (i) issue shares of common stock upon the
exercise of the warrants in the Warrant Exercise, (ii) to undertake the Warrant Modification and (iii) enter into and perform its obligations under this Agreement, the Subscription Agreement substantially in the form made part of the Subscription
Documents (the “Subscription Agreement”), the Registration Rights Agreement substantially in the form made part of the Subscription Documents (the “Registration Rights Agreement”), the Warrant Agreement substantially in
the form made part of the Subscription Documents (the “Warrant Agreement”), the agreements for the Warrant Modification and the other agreements, if any, contemplated by the Offering and the Warrant Exercise (all such agreements, together
with this Agreement, the “Company Transaction Documents”) and subject to necessary Board and stockholder approvals, to issue, sell and deliver the Shares and the shares of Common Stock issuable upon exercise of the Warrants and the
Broker Warrants (as hereinafter defined) (the shares of Common Stock issuable upon exercise of the Warrants and the Broker Warrants are hereinafter referred to collectively as the “Warrant Shares”) and to make the representations in this
Agreement accurate and not misleading. Prior to the First Closing, as defined under Section 4(e), each of the Company Transaction Documents and the Offering will have been duly authorized. This Agreement has been duly authorized, executed
and delivered and constitutes, and each of the other Company Transaction Documents, upon due execution and delivery, will constitute, valid and binding obligations of the Company, enforceable against the Company in accordance with their respective
terms (i) except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws now or hereafter in 

  

			
	Agency Agreement (PIPE and Warrant Exercise)	  	Page 4

 
effect related to laws affecting creditors’ rights generally, including the effect of statutory and other laws regarding fraudulent conveyances and preferential transfers, and except that no
representation is made herein regarding the enforceability of the Company’s obligations to provide indemnification and contribution remedies under the securities laws and (ii) subject to the limitations imposed by general equitable principles
(regardless of whether such enforceability is considered in a proceeding at law or in equity). 
 (d) None of the execution and delivery of
or performance by the Company under this Agreement, the Warrant Modification, the issuance of shares of common stock upon the exercise of warrants in the Warrant Exercise or any of the other Company Transaction Documents or the consummation of the
transactions in this Agreement or in the Subscription Documents (including the issuance and sale of the Shares, the issuance of the Warrants or the issuance of the Warrants Shares conflicts with or violates, or causes a default under (with our
without the passage of time or the giving of notice), or will result in the creation or imposition of, any lien, charge or other encumbrance upon any of the assets of the Company under any agreement, evidence of indebtedness, joint venture,
commitment or other instrument to which the Company is a party or by which the Company or its assets may be bound, any statute, rule, law or governmental regulation applicable to the Company, or any term of the Article of Incorporation as in effect
on the date hereof or any closing date for the Offering (the “Articles of Incorporation”) or By-Laws as in effect on the date hereof or any closing date for the Offering (the “By-Laws”) of the Company, or any license, permit,
judgment, decree, order, statute, rule or regulation applicable to the Company or any of its assets, except in the case of a conflict, violation, lien, charge or other encumbrance (except with respect to the Company’s Articles of Incorporation
or By-Laws) which would not, or could not reasonably be expected to, have a Company Material Adverse Effect. No consent, approval, authorization or other order of, or registration, qualification or filing with, any regulatory body, administrative
agency, or other governmental body is required for the execution and delivery of this Agreement by the Company and the valid issuance or sale of the Shares, the Warrants, the Broker Warrants and the Warrant Shares by the Company pursuant to this
Agreement, other than such as have been made or obtained and that remain in full force and effect, and except for the filing of a Form D or any filings required to be made under state securities laws, which shall be timely filed by the Company. 

(e) The Company’s financial statements, together with the related notes, if any, included in the Subscription Documents or the
Company’s SEC Filings, present fairly, in all material respects, the financial position of the Company as of the dates specified and the results of operations for the periods covered thereby. Such financial statements and related notes were
prepared in accordance with United States generally accepted accounting principles applied on a consistent basis throughout the periods indicated, except that the unaudited financial statements omit full notes, and except for normal year end
adjustments. If the financials for the Company are unaudited financial statements, it will state such clearly on the financials. During the period of engagement of the Company’s independent certified public accountants, there have been no
disagreements between the accounting firm and the Company on any matters of accounting principles or practices, financial statement disclosure or auditing scope or procedures. The Company has made and kept books and records and accounts which are in
reasonable detail and which fairly and accurately reflect the activities of the Company in all material respects, subject only to year-end adjustments. Except as set forth in such financial statements or otherwise disclosed in the Subscription
Documents, the Company’s senior management has no knowledge of any material liabilities of any kind, whether accrued, absolute or contingent, or otherwise, and subsequent to the date of the Subscription Documents and prior to the date of the
First Closing, it shall not enter into any material transactions or commitments without promptly thereafter notifying the Agents, the purchasers in the Offering and the warrant holders in the Warrant Exercise in writing of any such material
transaction or commitment. The other financial and statistical information with respect to the Company and any pro forma information and related notes included in the SEC Filings present fairly the information shown therein on a basis consistent
with the financial statements of the Company included in the SEC Filings. Except as disclosed in the Subscription Documents, the Company does not know of any facts, 

  

			
	Agency Agreement (PIPE and Warrant Exercise)	  	Page 5

 
circumstances or conditions which could materially adversely affect its operations, earnings or prospects that have not been fully disclosed in the financial statements appearing in the SEC
Filings or other financial statements appearing in the SEC Filings or other documents or information provided by the Company. 
 (f)
Immediately prior to the First Closing, the Shares, the Warrants, the shares underlying the Warrants (“Warrant Shares”), the Broker Warrants and the Shares underlying the Broker Warrants (“Broker Warrant Shares”) will have been
duly authorized and, when issued and delivered against payment therefor as provided in the Company Transaction Documents, will be validly issued, fully paid and nonassessable. No holder of any of the Shares, Warrants Shares or Broker Warrant
Shares will be subject to personal liability solely by reason of being such a holder, and except as described in the Subscription Documents, none of the Shares, Warrants, Warrant Shares, Broker Warrants or Broker Warrant Shares will be subject to
preemptive or similar rights of any stockholder or security holder of the Company or an adjustment under the antidilution or exercise rights of any holders of any outstanding shares of capital stock, options, warrants or other rights to acquire any
securities of the Company. Immediately prior to the First Closing, a sufficient number of authorized but unissued shares of Common Stock will have been reserved for issuance upon the exercise of the Warrants and the Brokers Warrants. 

(g) Except as described in the Subscription Documents and/or the Company’s SEC Filings and for the Warrants, and as of the date of each
Closing: (i) there will be no outstanding options, stock subscription agreements, warrants or other rights permitting or requiring the Company or others to purchase or acquire any shares of capital stock or other equity securities of the Company or
to pay any dividend or make any other distribution in respect thereof; (ii) there will be no securities issued or outstanding which are convertible into or exchangeable for any of the foregoing and there are no contracts, commitments or
understandings, whether or not in writing, to issue or grant any such option, warrant, right or convertible or exchangeable security; (iii) no Securities of the Company or other securities of the Company are reserved for issuance for any purpose;
(iv) there will be no voting trusts or other contracts, commitments, understandings, arrangements or restrictions of any kind with respect to the ownership, voting or transfer of shares of stock or other securities of the Company, including, without
limitation, any preemptive rights, rights of first refusal, proxies or similar rights, and (v) no person prior to the execution of this Agreement by the Company holds a right to require the Company to register any securities of the Company under the
Act or to participate in any such registration. Immediately prior to the First Closing, the issued and outstanding shares of capital stock of the Company will conform in all material respects to all statements in relation thereto contained in
the Company’s SEC Filings and the Company’s SEC Filings describe all material terms and conditions thereof. All issuances by the Company of its securities have been issued pursuant to either a current effective registration statement
under the 1933 Act or an exemption from registration requirements under the Act, and were issued in accordance with any applicable Federal and state securities laws. 

(h) Except as described in the Subscription Documents and/or the Company’s SEC Filings, the Company has no subsidiaries and does not own
any equity interest and has not made any loans or advances to or guarantees of indebtedness to any person, corporation, partnership or other entity and is not a party to any joint venture. The Company’s subsidiaries are duly incorporated
or organized, validly existing and in good standing under the laws of their jurisdiction of incorporation or organization and have all requisite power and authority to carry on their business as now conducted. Such subsidiaries are duly
qualified to transact business and is in good standing in each jurisdiction in which the failure to so qualify would have a material adverse effect on their respective business or properties. All of the outstanding capital stock or other voting
securities of such subsidiaries are owned by the Company, directly or indirectly, free and clear of any liens, claims, or encumbrances. The conduct of business by the Company as presently and proposed to be conducted is not subject to
continuing oversight, supervision, regulation or examination by any governmental official or body of the United 

  

			
	Agency Agreement (PIPE and Warrant Exercise)	  	Page 6

 
States, or any other jurisdiction wherein the Company conducts or proposes to conduct such business, except as described in the Subscription Documents and/or the Company’s SEC Filings and
except as such regulation is applicable to US public companies and commercial enterprises generally. The Company has obtained all material licenses, permits and other governmental authorizations necessary to conduct its business as presently
conducted. The Company has not received any notice of any violation of, or noncompliance with, any federal, state, local or foreign laws, ordinances, regulations and orders (including, without limitation, those relating to environmental
protection, occupational safety and health, securities laws, equal employment opportunity, consumer protection, credit reporting, “truth-in-lending”, and warranties and trade practices) applicable to its business, the violation of, or
noncompliance with, would have a Company Material Adverse Effect, and the Company knows of no facts or set of circumstances which could give rise to such a notice. 

(i) Except as described in the Subscription Documents and/or the Company’s SEC Filings, no default by the Company or, to the knowledge
of the Company, any other party, exists in the due performance under any material agreement to which the Company is a party or to which any of its assets is subject (collectively, the “Company Agreements”). The Company Agreements, if
any, disclosed in the Subscription Documents and/or the Company’s SEC Filings are the only material agreements to which the Company is bound or by which its assets are subject, are accurately described in the Subscription Documents and/or the
Company’s SEC Filings and are in full force and effect in accordance with their respective terms, subject to any applicable bankruptcy, insolvency or other laws affecting the rights of creditors generally and to general equitable principles and
the availability of specific performance. 
 (j) Subsequent to the respective dates as of which information is given in the Subscription
Documents, the Company has operated its business in the ordinary course and, except as may otherwise be set forth in the Subscription Documents or the Company’s SEC Filings, there has been no: (i) Company Material Adverse Effect; (ii) material
transaction otherwise than in the ordinary course of business consistent with past practice; (iii) issuance of any securities (debt or equity) or any rights to acquire any such securities other than pursuant to equity incentive plans approved by its
Board of Directors; (iv) damage, loss or destruction, whether or not covered by insurance, with respect to any material asset or property of the Company; or (v) agreement to permit any of the foregoing. 

(k) Except as set forth in the Subscription Documents and/or the Company’s SEC Filings, there are no actions, suits, claims, hearings or
proceedings pending before any court or governmental authority or, to the knowledge of the Company, threatened, against the Company, or involving its assets or any of its officers or directors (in their capacity as such) which, (i) if determined
adversely to the Company or such officer or director, could reasonably be expected to have a Company Material Adverse Effect or adversely affect the transactions contemplated by this Agreement or the Company Transaction Documents (as defined in this
Agreement) or the enforceability hereof or (ii) would be required to be disclosed in the Company’s Annual Report on Form 10-K under the requirements of Item 103 of Regulation S-K. The Company is not subject to any injunction, judgment,
decree or order of any court, regulatory body, arbitral panel, administrative agency or other government body. 
 (l) The Articles of
Incorporation and By-laws of the Company are true, correct and complete copies of the certificate of incorporation and bylaws of the Company, as in effect on the date hereof. Any subsequent amendments to the certificate of incorporation or
bylaws will be provided promptly to the Agents, investors in the Offering and those warrant holders that participated in the Warrant Exercise. The Company is not: (i) in violation of its Articles of Incorporation or By-Laws; (ii) in default of any
contract, indenture, mortgage, deed of trust, note, loan agreement, security agreement, lease, alliance agreement, joint venture agreement or other agreement, license, permit, consent, approval or instrument to which the Company is a party or by
which it is or may be bound or to which any of its assets may be subject, the default of which could reasonably be expected to have a Company Material Adverse Effect; (iii) in violation of any statute, rule or regulation applicable to the

  

			
	Agency Agreement (PIPE and Warrant Exercise)	  	Page 7

 
Company, the violation of which would have a Company Material Adverse Effect; or (iv) in violation of any judgment, decree or order of any court or governmental body having jurisdiction over the
Company and specifically naming the Company, which violation or violations individually, or in the aggregate, could reasonably be expected to have a Company Material Adverse Effect. 

(m) Except as disclosed in the Subscription Documents and/or the Company’s SEC Filings, as of the date of this Agreement, no current or
former stockholder, director, officer or employee of the Company, nor, to the knowledge of the Company, any affiliate of any such person is presently, directly or indirectly through his/her affiliation with any other person or entity, a party to any
loan from the Company or any other transaction (other than as an employee) with the Company. 
 (n) The Company is not obligated to pay,
and has not obligated the Agents to pay, a finder’s or origination fee in connection with the Offering other than to the Agents under this Agreement, and hereby agrees to indemnify the Agents from any such claim made by any other person as more
fully set forth in Section 8 hereof. Except as set forth in the Subscription Documents, no other person has any right to participate in any offer, sale or distribution of the Company’s securities to which the Agents’ rights, described
herein, shall apply. 
 (o) Until the earlier of (i) the Termination Date or (ii) the Final Closing (as hereinafter defined), the Company
will not issue any press release, grant any interview, or otherwise communicate with the media in any manner whatsoever with respect to the Offering or the Warrant Exercise without the Agents’ prior written consent, which consent will not
unreasonably be withheld or delayed, and subject to any applicable laws and regulations. 
 (p) No representation or warranty contained in
Section 2A of this Agreement contains any untrue statement of a material fact or omits to state a material fact necessary to make the statements herein not misleading in the context of such representations and warranties. The Agents shall be
entitled to rely on such representations and warranties. 
 (q) No consent, authorization or filing of or with any court or governmental
authority is required in connection with the issuance or the consummation of the Warrant Exercise, the transactions contemplated herein or in the other Company Transaction Documents, except for required filings with the SEC and the applicable state
securities commissions relating specifically to the Offering (all of which filings will be duly made by, or on behalf of, the Company), and those which are required to be made after the First Closing (all of which will be duly made on a timely
basis). 
 (r) Neither the sale of the Securities by the Company nor its use of the proceeds thereof or from the Warrant Exercise will
violate the Trading with the Enemy Act, as amended, nor any of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) or any enabling legislation or executive order relating
thereto. Without limiting the foregoing, the Company is not (a) a person whose property or interests in property are blocked pursuant to Section 1 of Executive Order 13224 of September 23, 2001 Blocking Property and Prohibiting Transactions
with Persons Who Commit, Threaten to Commit, or Support Terrorism (66 Fed. Reg. 49079 (2001)) or (b) a person who engages in any dealings or transactions, or be otherwise associated, with any such person. The Company and its subsidiaries, if
any, are in compliance, in all material respects, with the USA Patriot Act of 2001 (signed into law October 26, 2001). Each of the Company, its affiliates and any of their respective officers, directors, supervisors, managers, agents, or
employees, has not violated, its participation in the offering will not violate, and the Company has instituted and maintains policies and procedures designed to ensure continued compliance with, each of the following laws: (a) anti-bribery
laws, including but not limited to, any applicable law, rule, or regulation of any locality, including but not limited to any law, rule, or regulation promulgated to implement the OECD Convention on Combating Bribery of Foreign Public Officials in
International Business Transactions, signed December 17, 1997, including the U.S. Foreign Corrupt Practices Act of 1977, as amended, or any other law, rule or regulation of similar purposes and scope, (b) anti-money laundering laws, including but
not limited to, 

  

			
	Agency Agreement (PIPE and Warrant Exercise)	  	Page 8

 
applicable federal, state, international, foreign or other laws, regulations or government guidance regarding anti-money laundering, including, without limitation, Title 18 US. Code section 1956
and 1957, the Bank Secrecy Act, and international anti-money laundering principles or procedures by an intergovernmental group or organization, such as the Financial Action Task Force on Money Laundering, of which the United States is a member and
with which designation the United States representative to the group or organization continues to concur, all as amended, and any Executive order, directive, or regulation pursuant to the authority of any of the foregoing, or any orders or
licenses issued thereunder or (c) laws and regulations imposing U.S. economic sanctions measures, including, but not limited to, the International Emergency Economic Powers Act, the United Nations Participation Act and the Syria Accountability and
Lebanese Sovereignty Act, all as amended, and any Executive Order, directive, or regulation pursuant to the authority of any of the foregoing, including the regulations of the United States Treasury Department set forth under 31 CFR, Subtitle B,
Chapter V, as amended, or any orders or licenses issued thereunder. Neither the Company nor any director, officer, agent, employee or other person acting on behalf of the Company has, in the course of its actions for, or on behalf of, the
Company (i) used any corporate funds for any unlawful contribution, gift, entertainment or other unlawful expenses relating to political activity; (ii) made any direct or indirect unlawful payment to any foreign or domestic government official or
employee from corporate funds; or (iii) made any unlawful bribe, rebate, payoff, influence payment, kickback or other unlawful payment to any foreign or domestic government official or employee. 

(s) None of Company, any of its predecessors, any affiliated issuer, any director, executive officer, other officer of the Company
participating in the Offering, any beneficial owner of 20% or more of the Company’s outstanding voting equity securities, calculated on the basis of voting power, nor any promoter (as that term is defined in Rule 405 under the Securities Act)
connected with the Company in any capacity at the time of sale (each, an “Issuer Covered Person” and, together, “Issuer Covered Persons”) is subject to any of the “Bad Actor” disqualifications described in Rule
506(d)(1)(i)–(viii) under the Securities Act (a “Disqualification Event”), except for a Disqualification Event covered by Rule 506(d)(2) or (d)(3) or has been involved in any matter which would be a Disqualification Event except for
the fact that it occurred before September 23, 2013. The Company has exercised reasonable care to determine whether any Issuer Covered Person is subject to a Disqualification Event. The Company has complied, to the extent applicable, with its
disclosure obligations under Rule 506(e), and has furnished to the Agents a copy of any disclosures provided thereunder. 
 (t) The Company
is not aware of any person (other than any Issuer Covered Person or Agents Covered Person (as defined below) that has been or will be paid (directly or indirectly) remuneration for solicitation of purchasers in connection with the sale of any the
Securities. For purposes of this subsection Agents Covered Persons shall mean Katalyst Securities LLC, GP Nurmenkari Inc., or any of their respective directors, executive officers, general partners, managing members or other officers
participating in the Offering. 
 (u) The Company will promptly notify the Agents in writing of (A) any Disqualification Event relating to
any Issuer Covered Person and (B) any event that would, with the passage of time, become a Disqualification Event relating to any Issuer Covered Person. The Company will notify the Agents in writing, prior to the Closing Date of (i) any
Disqualification Event relating to any Issuer Covered Person and (ii) any event that would, with the passage of time, become a Disqualification Event relating to any Issuer Covered Person. 

(v) The authorized capital stock of the Company as of the First Closing will be set forth in the Subscription Agreement. As of the First
Closing, the Company’s issued and outstanding capital stock will be set forth in the Subscription Agreement. All issued and outstanding shares of capital stock have been duly authorized and validly issued, are fully paid and nonassessable,
were not issued in violation of any preemptive rights or similar rights to subscribe for or purchase securities, and, except as disclosed in the Company’s SEC Filings, have been issued and sold in

  

			
	Agency Agreement (PIPE and Warrant Exercise)	  	Page 9

 
compliance with the registration requirements of federal and state securities laws or the applicable statutes of limitation have expired. Except as set forth in the Subscription Agreement
and the Company’s SEC Filings, there are no (i) outstanding rights (including, without limitation, preemptive rights), warrants or options to acquire, or instruments convertible into or exchangeable for, any unissued shares of capital stock or
other equity interest in the Company, or any contract, commitment, agreement, understanding or arrangement of any kind to which the Company or its subsidiaries is a party and relating to the issuance or sale of any capital stock or convertible or
exchangeable security of the Company; or (ii) obligations of the Company to purchase redeem or otherwise acquire any of its outstanding capital stock or any interest therein or to pay any dividend or make any other distribution in respect
thereof.
 (w) The Company has ownership or license or legal right to use all patents, copyrights, trade secrets, know-how, trademarks,
trade names, customer lists, designs, manufacturing or other processes, computer software, systems, data compilation, research results or other proprietary rights used in the business of the Company or its subsidiaries (collectively
“Intellectual Property”). All of such patents, registered trademarks and registered copyrights have been duly registered in, filed in or issued by the United States Patent and Trademark Office, the United States Register of
Copyrights or the corresponding offices of other jurisdictions and have been maintained and renewed in accordance with all applicable provisions of law and administrative regulations in the United States and all such jurisdictions. The Company
believes it has taken all reasonable steps required in accordance with sound business practice and business judgment to establish and preserve its and its subsidiaries’ ownership of all material Intellectual Property with respect to their
products and technology. To the knowledge of the Company, there is no infringement of the Intellectual Property by any third party. To the knowledge of the Company, the present business, activities and products of the Company and its
subsidiaries do not infringe any intellectual property of any other person. There is no proceeding charging the Company or its subsidiaries with infringement of any adversely held Intellectual Property has been filed and the Company is unaware
of any facts which are reasonably likely to form a basis for any such proceeding. There are no proceedings have been instituted or pending or, to the knowledge of the Company, threatened, which challenge the rights of the Company or its
subsidiaries to the use of the Intellectual Property. The Intellectual Property owned by the Company and its subsidiaries, and to the knowledge of the Company, the Intellectual Property licensed to the Company and its subsidiaries, has not been
adjudged invalid or unenforceable, in whole or in part. There is no pending or, to the knowledge of the Company, threatened proceeding by others challenging the validity or scope of any such Intellectual Property, and the Company is unaware of
any facts which are reasonably likely to form a basis for any such claim. Each of the Company and its subsidiaries has the right to use, free and clear of material claims or rights of other persons, all of its customer lists, designs, computer
software, systems, data compilations, and other information that are required for its products or its business as presently conducted. Neither the Company nor its subsidiaries is making unauthorized use of any confidential information or trade
secrets of any person. The activities of any of the employees on behalf of the Company or of its subsidiaries do not violate any agreements or arrangements between such employees and third parties are related to confidential information or
trade secrets of third parties or that restrict any such employee’s engagement in business activity of any nature. Each former and current employee or consultant of the Company or its subsidiaries is a party to a written contract with the
Company or its subsidiaries that assigns to the Company or its subsidiaries, or has received an employee handbook that requires an employee to assign, all rights to all inventions, improvements, discoveries and information relating to the Company or
its subsidiaries, except for any failure to so do as would not reasonably be expected to result in a Material Adverse Effect. All licenses or other agreements under which (i) the Company or its subsidiaries employs rights in Intellectual
Property, or (ii) the Company or its subsidiaries has granted rights to others in Intellectual Property owned or licensed by the Company or its subsidiaries are in full force and effect, and there is no default (and there exists no condition which,
with the passage of time or otherwise, would constitute a default by the Company or such subsidiary) by the Company or its subsidiaries with respect thereto. 

  

			
	Agency Agreement (PIPE and Warrant Exercise)	  	Page 10

 (x) Marcum LLP, which expressed its opinion with respect to the consolidated financial
statements contained in the Company SEC Documents, has advised the Company that it is or was, and to the knowledge of the Company it is or was, a registered independent public accounting firm as and when required by the Securities Act and the rules
and regulations promulgated thereunder.
 (y) The Company has filed all necessary federal, state, local and foreign income and franchise
tax returns and have paid or accrued all taxes shown as due thereon, and the Company has no knowledge of a tax deficiency which has been or might be asserted or threatened against it by any taxing jurisdiction, other than any deficiency which the
Company is contesting in good faith and with respect to which adequate reserves for payment have been established. 
 (z) The Company
maintains and will continue to maintain insurance of the types and in the amounts that the Company reasonably believes are adequate for its business, including, but not limited to, insurance covering all real and personal property owned or leased by
the Company against theft, damage, destruction, acts of vandalism and all other risks customarily insured against by similarly situated companies, all of which insurance is in full force and effect.

(aa) On each Closing Date, all stock transfer or other taxes (other than income taxes) that are required to be paid in connection with the
sale and transfer of the Securities and the Brokers Warrants will be, or will have been, fully paid or provided for by the Company and the Company will have complied with all laws imposing such taxes.

(bb) The Company (including its subsidiaries) is not an “investment company” or an “affiliated person” of, or
“promoter” or “principal underwriter” for an investment company, within the meaning of the Investment Company Act of 1940 and will not be deemed an “investment company” as a result of the transactions contemplated by
the Offering and the Warrant Exercise. 
 (cc) The books, records and accounts of the Company accurately and fairly reflect, in reasonable
detail, the transactions in, and dispositions of, the assets of, and the operations of, the Company. 
 (dd) The Company’s report on
its disclosure controls and procedures (as such term is defined in Rule 13a-15 under the Securities Exchange Act of 1934 (the “Exchange Act”), is set forth in its SEC Filings, including its most recent Quarterly Report on Form 10-Q and its
Annual Report on Form 10-K for the year ended December 31, 2015.
 (ee) Neither the Company, nor any of its affiliates, nor any person
acting on its or their behalf, has engaged or will engage in any form of general solicitation or general advertising (within the meaning of Regulation D promulgated under the Securities Act) in connection with the offer or sale of the Securities.

 (ff) The Company is in compliance in all material respects with any and all applicable requirements of the Sarbanes-Oxley Act of 2002
that are effective as of the date hereof, and any and all applicable rules and regulations promulgated by the SEC thereunder that are effective as of the date hereof.

(gg) The Company is not a party to any collective bargaining agreement or employs any member of a union. The Company believes that its
relations with its employees are good. No executive officer of the Company (as defined in Rule 501(f) of Regulation D under the Securities Act) has notified the Company that such officer intends to leave the Company or otherwise terminate such
officer’s employment with the Company. No executive officer of the Company, to the knowledge of the Company, is, or is now expected to be, in violation of any material term of any employment contract, confidentiality, disclosure or
proprietary information agreement, non-competition agreement, or 

  

			
	Agency Agreement (PIPE and Warrant Exercise)	  	Page 11

 
any other contract or agreement or any restrictive covenant, and the continued employment of each such executive officer does not subject the Company to any liability with respect to any of the
foregoing matters. The Company and its subsidiaries are in compliance with all federal, state, local and foreign laws and regulations respecting labor, employment and employment practices and benefits, terms and conditions of employment and
wages and hours, except where failure to be in compliance would not, either individually or in the aggregate, reasonably be expected to result in a Company Material Adverse Effect. 

(hh) None of the Company, its subsidiaries or any executive officer of the Company (as defined in Rule 501(f) of Regulation D under the
Securities Act) has taken and will not take any action designed to or that might reasonably be expected to cause or result in an unlawful manipulation of the price of the Common Stock to facilitate the sale or resale of the Securities or the Warrant
Shares. The Company confirms that, to its knowledge, with the exception of the proposed sale of Securities and the proposed warrant modification transaction described in Schedule 4(c) to the Subscription Agreement, neither it nor any other
person acting on its behalf has provided any of the potential investors or their agent or counsel with any information that constitutes or might constitute material, non-public information. The Company understands and confirms that the
potential investors shall be relying on the foregoing representations in effecting transactions in securities of the Company.
 (ii) The
Company and its board of directors have taken all necessary action, if any, in order to render inapplicable any control share acquisition, business combination, poison pill (including any distribution under a rights agreement) or other similar
anti-takeover provision under the Company’s certificate of incorporation or the laws of the jurisdiction of its formation which is or could become applicable to any potential investor as a result of the transactions contemplated by the Offering
and the Warrant Exercise, including, without limitation, the Company’s issuance of the Securities and any potential investor’s ownership of the Securities. The Company has not adopted a stockholder rights plan or similar arrangement
relating to accumulations of beneficial ownership of its capital stock or a change in control of the Company. 
 (jj) The Company
acknowledges that the Agents, any sub agents, legal counsel to the Company and/or their respective affiliates, principals, representatives or employees may now or hereafter own shares of the Company. 

B. Representations, Warranties and Covenants of Agents. 

1. Representations, Warranties and Covenants of Katalyst. Katalyst hereby represents and warrants to the
Company that the following representations and warranties are true and correct as of the date of this Agreement: 
 (a) Katalyst represents
that neither it, nor to its knowledge any of its Sub-Agents or any of its or their respective directors, executive officers, general partners, managing members or other officers participating in the Offering (each, a “Katalyst Covered
Person” and, together, “Katalyst Covered Persons”), is or will be subject to any of the “Bad Actor” disqualifications described in Rule 506(d)(1)(i) to (viii) under the Securities Act (a “Disqualification
Event”) or has or will have been involved in any matter which would be a Disqualification Event except for the fact that it occurred before September 23, 2013. 

(b) Katalyst will notify the Company promptly in writing of any Disqualification Event relating to any Katalyst Covered Person not previously
disclosed to the Company in accordance with the prior section. 

  

			
	Agency Agreement (PIPE and Warrant Exercise)	  	Page 12

 2. Representations, Warranties and Covenants of GPN. GPN hereby
represents and warrants to the Company that the following representations and warranties are true and correct as of the date of this Agreement: 

(a) GPN represents that neither it, nor to its knowledge any of its respective directors, executive officers, general partners, managing
members or other officers participating in the Offering (each, a “GPN Covered Person” and, together, “GPN Covered Persons”), is or will be subject to any of the “Bad Actor” disqualifications described in Rule
506(d)(1)(i) to (viii) under the Securities Act (a “Disqualification Event”) or has or will have been involved in any matter which would be a Disqualification Event except for the fact that it occurred before September 23, 2013.

 (b) GPN will notify the Company promptly in writing of any Disqualification Event relating to any GPN Covered Person not previously
disclosed to the Company in accordance with the prior section. 
 3. Agents Compensation. 

A. Katalyst Compensation 

(a) In connection with the Offering, the Company will pay a cash fee (the “Katalyst Cash Fee”) to Katalyst at each Closing
equal to Ten Percent (10%) of each Closing’s gross proceeds from any sale of Securities in the Offering during the Term to investors first contacted by Katalyst in connection with the Offering. The Katalyst Cash Fee shall be paid to
Katalyst in cash by wire transfer from the escrow account established for the Offering, and as a condition to closing, simultaneous with the distribution of funds to the Company.

b) Also, at each Closing, the Company will deliver to Katalyst (or its designees), warrants to purchase shares of the Company’s Common
Stock, substantially in the form of Attachment I, equal, in the aggregate, to Ten Percent (10%) of the number of Securities sold in the Offering on which Katalyst receives compensation pursuant to Section 3(a), which warrants shall have a
term of five years and an initial exercise price equal to the price per share of the Securities (the “Brokers Warrants”). To the extent permitted by applicable laws, all warrants shall permit unencumbered transfer to Katalyst’s
employees and affiliates and the warrants may be issued directly to Katalyst’s employees and affiliates at Katalyst’s request. The Katalyst Cash Fee and the Broker Warrants are sometimes referred to collectively as the “Katalyst
Broker Compensation”.
 (c) To the extent there is more than one Closing, payment of the proportional amount of the Katalyst Cash Fees
will be made out of the gross proceeds from any sale of Securities sold at each Closing and the Company will issue to Katalyst the corresponding number of Brokers Warrants. All cash compensation and warrants under this Agreement shall be paid
directly by the Company to and in the name provided to the Company by Katalyst. 
 B. GPN Compensation. 

(a) In connection with the Offering, the Company will pay a cash fee (the “GPN Offering Fee”) to GPN at each Closing equal to Seven
Percent (7%) of each Closing’s gross proceeds from any sale of Securities in the Offering during the Term to investors first contacted by GPN in connection with the Offering. The GPN Offering Fee shall be paid to GPN in cash by wire
transfer from the escrow account established for the Offering, and as a condition to closing, simultaneous with the distribution of funds to the Company. GPN shall not be entitled to any Broker Warrants. 

(b) In Connection with the Warrant Exercise, the Company will pay a cash fee (the “GPN Cash Fee”) to GPN equal to Seven Percent (7%)
of the exercise price of each Series C Warrant exercised pursuant to the Warrant Exercise. The GPN Cash Fee shall be paid to GPN in cash by wire transfer from the Company within one Business Day of each such exercise. GPN shall not be
entitled to any Broker Warrants in connection with the Warrant Exercise. No fee is due to GPN in connection with the exercise of the Series C-1 Warrants exercised pursuant to the Warrant Exercise. 

  

			
	Agency Agreement (PIPE and Warrant Exercise)	  	Page 13

 C. Tail Compensation 

Provided that an Offering is consummated during the Offering Period, Katalyst shall be entitled to the Katalyst Cash Fee and Brokers Warrants
calculated in the manner provide in Section 3A above and GNP shall be entitled to the GNP Cash Fee as calculated in the manner provided in Section 3B above with respect to any subsequent public or private offering or other financing or
capital-raising transaction of any kind (“Subsequent Financing”) to the extent that such financing or capital is provided the Company, or to any Affiliate of the Company, by investors whom the respective Agents had “introduced”
(as defined below), directly or indirectly, to the Company during the Offering Period if such Subsequent Financing is consummated at any time within the twelve (12) month period following the earlier of expiration or termination of this Agreement or
the closing of the Offering, if an Offering is consummated (the “Tail Period”). A party “introduced” by the respective Agent shall mean an investor who either (i) participated in the Offering, (ii) met with the Company
and/or had a conversation with the Company either in person or via telephone regarding the Offering or (iii) was provided by the Agents with a copy of the Company’s offering memorandum (or other materials prepared and/or approved by the Company
in connection with the Offering) (in each case of (i) – (iii), based upon such investor expressing an interest, directly or indirectly, to the Agents in investing in the Offering). An “Affiliate” of an entity shall mean any
individual or entity controlling, controlled by or under common control with such entity and any officer, director, employee, stockholder, partner, member or agent of such entity. 

4. Subscription and Closing Procedures. 

(a) The Company shall make available to the Agents and their representatives such information, including, but not limited to, financial
information, and other information regarding the Company (the “Information”), as may be reasonably requested in making a reasonable investigation of the Company and its affairs. The Company shall provide access to the officers,
directors, employees, independent accountants, legal counsel and other advisors and consultants of the Company as shall be reasonably requested by the Agents. The Company recognizes and agrees that the Agents (i) will use and rely primarily on
the Information and generally available information from recognized public sources in performing the services contemplated by this Agreement without independently verifying the Information or such other information, (ii) does not assume
responsibility for the accuracy of the Information or such other information, and (iii) will not make an appraisal of any assets or liabilities owned or controlled by the Company or its market competitors. 

Offering 
 (b) The Company
shall cause to be delivered to the Agents copies of the Subscription Documents and has consented, and hereby consents, to the use of such copies for the purposes permitted by the Act and applicable securities laws and in accordance with the terms
and conditions of this Agreement, and hereby authorizes the Agents and their agents and employees to use the Subscription Documents in connection with the sale of the Securities until the earlier of (i) the Termination Date or (ii) the Final
Closing, and no person or entity is or will be authorized to give any information or make any representations other than those contained in the Subscription Documents or to use any offering materials other than those contained in the Subscription
Documents in connection with the sale of the Securities, unless the Company first provides the Agents with notification of such information, representations or offering materials. 

(c) Each prospective purchaser in the Offering will be required to complete and execute the Subscription Documents, Anti-Money Laundering
Form, Accredited Investor Certification and other documents which will be forwarded or delivered to the respective Agent at that respective Placement Agent’s offices at the address set forth in Section 12 hereof or to an address identified in
the Subscription Documents. 
 (d) Simultaneously with the delivery to the Agents of the Subscription Documents, the subscriber’s check
or other good funds will be forwarded directly by the subscriber to the escrow agent and deposited into a non interest bearing escrow account (the “Escrow Account”) established for 

  

			
	Agency Agreement (PIPE and Warrant Exercise)	  	Page 14

 
such purpose (the “Escrow Agent”). All such funds for subscriptions will be held in the Escrow Account pursuant to the terms of an escrow agreement among the Company, Katalyst, GPN
and the Escrow Agent. The Company will pay all fees related to the establishment and maintenance of the Escrow Account. Subject to the receipt of subscriptions for the amount for Closing, the Company will either accept or reject, for any or no
reason, the Subscription Documents in a timely fashion and at each Closing will countersign the Subscription Documents and provide duplicate copies of such documents to the Agents for distribution to the subscribers. The Company will give
notice to the respective Agent of its acceptance of each subscription. The Company, or the respective Agent on the Company’s behalf, will promptly return to subscribers incomplete, improperly completed, improperly executed and rejected
subscriptions and give written notice thereof to the respective Agent upon such return. 
 (e) If subscriptions for at least the Minimum
Offering Amount for Closing have been accepted prior to the Termination Date, the funds therefor have been collected by the Escrow Agent and all of the conditions set forth elsewhere in this Agreement are fulfilled, a closing shall be held promptly
with respect to the Securities sold (the “First Closing”). Thereafter, the remaining Securities will continue to be offered and sold until the earlier of the Termination Date or the date that additional subscription amounts up to the
Maximum Offering amount have been collected by the Escrow Agent. Additional Closings (each a “Closing”, collectively “Closings”) may from time to time be conducted at times mutually agreed to between the Company and the
Agents with respect to additional Securities sold, with the final closing (“Final Closing”) to occur within 10 days after the earlier of the Termination Date and the date on which the Maximum Amount has been subscribed for. Delivery
of payment for the accepted subscriptions for the Securities from the funds held in the Escrow Account will be made at each Closing at Katalyst’s offices against delivery of the Securities by the Company at the address set forth in Section 12
hereof (or at such other place as may be mutually agreed upon between the Company and the Placement Agent), net of amounts agreed upon by the parties herein, including, the Blue Sky counsel as of such Closing. Executed certificates for the
Shares and the Warrants will be in such authorized denominations and registered in such names as the Agents may request on or before the date of each Closing (“Closing Date”). The certificates will be forwarded to the subscriber
directly by the stock transfer agent as soon as practicable following each Closing. At each Closing, the Company will (i) deliver irrevocable issuance instruction to its stock transfer agent for the issuance of certificates representing the
Shares being sold, and (ii) issue and deliver the applicable Warrants. 
 (f) If Subscription Documents for the Minimum Offering Amount for
Closing have not been received and accepted by the Company on or before the Termination Date for any reason, the Offering will be terminated, no Securities will be sold, and the Escrow Agent will, at the request of the Agents, cause all monies
received from subscribers for the Securities to be promptly returned to such subscribers without interest, penalty, expense or deduction.

Warrant Exercise 
 (g) The
Company shall cause to be delivered to GPN copies of (i) the notices of exercise of the Series C warrants being exercised in the Warrant Exercise, (ii) copies of the Series C warrants being exercised in the Warrant Exercise, (iii) proof of payment
in connection with the Series C warrants being exercised in the Warrant Exercise, (iv) copies of instructions to the Company’s Transfer Agent for the issuance of shares of common stock underlying the Series C warrants in the Warrant Exercise
and (iv) any opinions issued in connection with the Series B warrants being exercised in the Warrant Exercise. 
 5. Further
Covenants. The Company hereby covenants and agrees that: 
 (a) Except upon prior written notice to the Agents, the Company
shall not, at any time prior to the Final Closing, knowingly take any action which would cause any of the representations 

  

			
	Agency Agreement (PIPE and Warrant Exercise)	  	Page 15

 
and warranties made by it in this Agreement not to be complete and correct in all material respects on and as of the date of each Closing with the same force and effect as if such representations
and warranties had been made on and as of each such date (except to the extent any representation or warranty relates to an earlier date). 

(b) If, at any time prior to the Final Closing, any event shall occur that causes a Company Material Adverse Effect which as a result it
becomes necessary to amend or supplement the Subscription Documents so that the representations and warranties herein remain true and correct in all material respects, or in case it shall be necessary to amend or supplement the Subscription
Documents to comply with Regulation D or any other applicable securities laws or regulations, the Company will promptly notify the Agents and shall, at its sole cost, prepare and furnish to the Agents copies of appropriate amendments and/or
supplements in such quantities as the Agents may reasonably request. The Company will not at any time before the Final Closing prepare or use any amendment or supplement to the Subscription Documents of which the Agents will not previously have
been advised and furnished with a copy, or which is not in compliance in all material respects with the Act and other applicable securities laws. As soon as the Company is advised thereof, the Company will advise the Agents and their counsel,
and confirm the advice in writing, of any order preventing or suspending the use of the Subscription Documents, or the suspension of any exemption for such qualification or registration thereof for offering in any jurisdiction, or of the institution
or threatened institution of any proceedings for any of such purposes, and the Company will use its best efforts to prevent the issuance of any such order and, if issued, to obtain as soon as reasonably possible the lifting thereof. 

(c) The Company shall comply with the Act, the Exchange Act, the rules and regulations thereunder, all applicable state securities laws and
the rules and regulations thereunder in the states in which the Company’s Blue Sky counsel has advised the Agents and/or the Company that the Securities are exempt from qualification or registration, so as to permit the continuance of the sales
of the Securities, and will file or cause to be filed with the SEC, and shall promptly thereafter forward or cause to be forwarded to the Agents, any and all reports on Form D as are required. The Company will pay the attorney’s fee and
out of pocket expenses related to the filings for exemption from such qualifications or registration with any state securities commissions and any other regulatory agencies. Such fees will be paid at the time of invoicing, or at the time of
Closing, if known, and if not yet invoiced, funds will remain in escrow to cover the estimated invoice. The Company will pay the invoice or authorize release of the funds from escrow within five (5) days of receipt of invoice.

(d) The Company shall place a legend on the certificates representing the shares of the Common Stock and the Warrants that the securities
evidenced thereby have not been registered under the Act or applicable state securities laws, setting forth or referring to the applicable restrictions on transferability and sale of such securities under the Act and applicable state laws. 

(e) The Company shall apply the net proceeds from the sale of the Securities and from the Warrant Exercise for the purposes set forth in the
Subscription Documents. Except as set forth in the Subscription Documents, the Company shall not use any of the net proceeds of the Offering or the Warrant Exercise to repay indebtedness to officers (other than accrued salaries incurred in the
ordinary course of business), directors or stockholders of the Company without the prior written consent of the Agents. 
 (f) During the
Offering Period, the Company shall afford each prospective purchaser of Securities the opportunity to ask questions of and receive answers from an officer of the Company concerning the terms and conditions of the Offering and the opportunity to
obtain such other additional information necessary to verify the accuracy of the Subscription Documents to the extent the Company possesses such information or can acquire it without unreasonable expense. 

(g) Except with the prior written consent of the Agents, the Company shall not, at any time prior to the earlier of the Final Closing or the
Termination Date, except as contemplated by the 

  

			
	Agency Agreement (PIPE and Warrant Exercise)	  	Page 16

 
Subscription Documents (i) engage in or commit to engage in any transaction outside the ordinary course of business as described in the Subscription Documents, (ii) issue, agree to issue or set
aside for issuance any securities (debt or equity) or any rights to acquire any such securities, (iii) incur, outside the ordinary course of business, any material indebtedness, (iv) dispose of any material assets, (v) make any material acquisition
or (vi) change its business or operations in any material respect. 
 (h) Whether or not the transactions contemplated hereby are
consummated, or this Agreement is terminated, the Company shall pay all reasonable expenses incurred in connection with the preparation and printing of all necessary offering documents and instruments related to the Offering and the issuance of the
Securities and the Brokers Warrants and will also pay for the Company’s expenses for accounting fees, legal fees, printing costs, and other costs involved with the Offering. The Company will provide at its own expense such quantities of the
Subscription Documents and other documents and instruments relating to the Offering as the Agents may reasonably request. The Company will pay at its own expense in connection with the creation, authorization, issuance, transfer and delivery of the
Securities and the Shares issued in the Warrant Exercise, including, without limitation, fees and expenses of any transfer agent or registrar; the fees and expenses of the Escrow Agent; all fees and expenses of legal, accounting and other advisers
to the Company; the Form D filings for offer and sale of the Securities under the federal securities and Blue Sky laws, payable within five (5) days of being invoiced. The Company will pay all such amounts, unless previously paid, at the First
Closing, or, if there is no Closing, within ten (10) days after written request therefor following the Termination Date. In addition to any fees payable to Katalyst hereunder and regardless of whether the Offering is consummated, the Company
hereby agrees to promptly reimburse Katalyst’s legal counsel fees in the amount of Fifty Thousand Dollars ($50,000) (the “Katalyst Legal Fee”), paid directly from the escrow account at the time of the first Closing from gross proceeds
raised by the Agents and if no Closing, then within five (5) days of written request to the Company by wire transfer. Katalyst will be entitled to reimbursement of its reasonable out of pocket expenses up to the amount of Ten Thousand Dollars
($10,000), and any expenses in the aggregate in excess of $10,000 will be approved in advance by the Company (the “Katalyst Expenses”). The Katalyst Legal Fee and Katalyst Expenses are separate and apart from the Katalyst Broker
Compensation and other expenses described herein. In addition to any fees payable to GPN hereunder, the Company hereby agrees to promptly pay GPN’s legal fees and expenses incurred to date (and not previously reimbursed) in an aggregate
amount not to exceed Ten Thousand Dollars ($10,000) (the “GPN Legal Fee”), paid directly from the escrow account at the time of the first Closing from gross proceeds raised by the Agents. GPN shall periodically reimburse GPN for its
out of pocket expenses not to exceed $500 without the prior consent of the Company (the “GPN Expenses”). The GPN Legal Fee and GPN Expenses are separate and apart from the GPN Compensation and other expenses described herein. This
reimbursement obligation is in addition to the reimbursement of fees and expenses relating to attendance by any Agent at proceedings or to indemnification and contribution as contemplated elsewhere in this agreement. In the event the
Agents’ personnel must attend or participate in judicial or other proceedings to which we are not a party relating to the subject matter of this agreement, the Company shall pay the respective Agent an additional per diem payment, per person,
at its customary rates, together with reimbursement of all out-of-pocket expenses and disbursements, including reasonable attorneys’ fees and disbursements incurred by it in respect of its preparation for and participation in such
proceedings. The Katalyst Legal Fee does not include the Registration Legal Fees and expenses for the Blue Sky and other regulatory filings to be made in connection with the Offering(s). 

(i) On each Closing Date, the Company permits the Agents to rely on any representations and warranties made by the Company to the investors
and will cause their counsel to permit the Agents to rely upon any opinion furnished to the investors in the Private Placement. 
 (j) The
Company will comply with all of its obligations and covenants set forth in its agreements with the investors in the Offering. If not filed on EDGAR, the Company will promptly deliver to the Agents and their counsel copies of any and all filings
with the SEC and each amendment or supplement thereto, as well as all prospectuses and free writing prospectuses, prior to the closing of the Offering and six months thereafter. The Agents are authorized on behalf of the Company to use and

  

			
	Agency Agreement (PIPE and Warrant Exercise)	  	Page 17

 
distribute copies of any Subscription Documents, including Company’s SEC Filings in connection with the sale of the Securities as, and to the extent, permitted by federal and applicable
state securities laws. The Company acknowledges and agrees that the Agents will be relying, without assuming responsibility for independent verification, on the accuracy and completeness of all financial and other information that is and will
be furnished to them by the Company and the Company will be liable for any material misstatements or omissions contained therein. 

6. Conditions of Agents’ Obligations. The obligations of the Agents hereunder to
affect a Closing are subject to the fulfillment, at or before each Closing, of the following additional conditions: 
 (a) Each of the
representations and warranties made by the Company shall be true and correct on each Closing Date. 
 (b) The Company shall have performed
and complied in all material respects with all agreements, covenants and conditions required to be performed, and complied with by it at or before the Closing. 

(c) The Subscription Documents do not, and as of the date of any amendment or supplement thereto will not, include any untrue statement of a
material fact or omit to state any material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading. 

(d) No order suspending the use of the Subscription Documents or enjoining the Offering, the sale of the Securities or the Warrant Exercise
shall have been issued, and no proceedings for that purpose or a similar purpose shall have been initiated or pending, or, to the best of the Company’s knowledge, be contemplated or threatened. 

(e) No holder of (i) any of the Securities from the Offering or (ii) any shares from the Warrant Exercise will be subject to personal
liability solely by reason of being such a holder, and except as described in the Subscription Documents, none of the Shares, Warrant Shares or any shares from the Warrant Exercise will be subject to preemptive or similar rights of any stockholder
or security holder of the Company, or an adjustment under the antidilution or exercise rights of any holders of any outstanding shares of capital stock, membership units, options, warrants or other rights to acquire any securities of the Company.
 
 (f) There shall have been no material adverse change nor development involving a prospective change in the financial condition,
operations or projects of the Company, except where such change would not have a Company Material Adverse Effect on the business activities, financial or otherwise, results of operations or prospects of the Company, taken individually or in the
aggregate. 
 (g) The Agents shall have received a certificate of the Chief Executive Officer of the Company, dated as of the Closing Date,
certifying, as to the fulfillment of the conditions set forth in subparagraphs (a), (b), (c), (d), (e) and (f) above. 
 (h) The Company
shall have delivered to the Agents: (i) a good standing certificate dated as of a date within 10 days prior to the date of the First Closing from the secretary of state of its jurisdiction of incorporation and (ii) resolutions of the Company’s
Board of Directors approving this Agreement and the transactions and agreements contemplated by this Agreement, and the Subscription Documents, all as certified by the Chief Executive Officer of the Company. 

(i) At each Closing, the Company shall have (i) paid to the Agents the respective Compensation as set forth in Section 3 above in respect of
all Securities sold at such Closing or warrants exercised in the Warrant Exercise at or prior to such Closing, (ii) executed and delivered to Katalyst the Brokers Warrants in respect of all Securities sold at such Closing, and (iii) paid all fees,
costs and expenses as set forth in Section 5 hereof. 

  

			
	Agency Agreement (PIPE and Warrant Exercise)	  	Page 18

 (j) There shall have been delivered to the Agents a signed opinion of counsel to the Company
dated as of each Closing Date, substantially in the form set forth in Attachment II. 
 (k) All proceedings taken at or prior to the
Closing in connection with the authorization, issuance and sale of the Securities and the Warrant Exercise will be reasonably satisfactory in form and substance to the Agents and their counsel, and such counsel shall have been furnished with all
such documents, certificates and opinions as it may reasonably request upon reasonable prior notice in connection with the transactions contemplated hereby. 

(l) If in connection with the Offering, the Agents determine that they or the Company would be required to make a filing with the FINRA to
enable the Agents to act as agent in the Offering, the Company will do the following: The Company will cooperate with the Agents with respect to all FINRA filings that the Company or the Agents may be required to make and provide all
information and documentation necessary to make the filings in a timely manner. The Company will pay all expenses related to all FINRA filings that the Company or Agents may be required to make, including, but not limited to, all printing costs
related to all documents required or that the Agents may reasonably deem necessary, to comply with FINRA rules; any FINRA filing fees; postage and express charges; and all other expenses incurred in making the FINRA filings.

The Company agrees and understands that this Agreement in no way constitutes a guarantee that the Offering or the Warrant Exercise will be
successful. The Company acknowledges that the Company is ultimately responsible for the successful completion of a transaction. 

7. Conditions of the Company’s Obligations. The obligations of the Company
hereunder are subject to the satisfaction of each of the following conditions: 
 (a) The satisfaction or waiver of all conditions to
Closing as set forth herein. 
 (b) As of each Closing, each of the representations and warranties made by Agents herein being true and
correct as of the Closing Date for such Closing. 
 (c) At each Closing, the Company shall have received the proceeds from the sale of the
Securities that are part of such Closing less applicable Broker Fees and other deductions contemplated by this Agreement. 
 (d) At each
Closing, the Company shall have received a copy of Subscription Documents signed by investors delivered by the Agents. 
 7A.
Mutual Condition. The obligations of the Agents and the Company hereunder are subject to the execution by each investor of a Subscription Agreement in form and substance acceptable to the Agents and the Company and deposit by
such investor with the escrow agent of all funds required to be so deposited by such investor. 
 8.
Indemnification.
 (a) The Company will: (i) indemnify and hold harmless the Agents, jointly and severally, their agents and
their officers, directors, employees, agents, selected dealers and each person, if any, who controls the respective Agents within the meaning of the Act and such agents (each an “Indemnitee” or an “Agent Party”) against, and pay
or reimburse each Indemnitee for, any and all losses, claims, damages, liabilities or expenses whatsoever (or actions or proceedings or investigations in respect thereof (collectively, “Proceedings”), joint or several (which will, for all
purposes of this Agreement, include, but not be limited to, all reasonable costs of defense and investigation and all reasonable attorneys’ fees, including appeals), to which any Indemnitee may become subject (a) under the Act or otherwise, in
connection with the offer and sale of the Securities and (b) as a result of the breach of any representation, warranty or covenant made by the Company herein or the failure of the Company to perform its obligations under the Agreement, regardless of
whether such losses, claims, damages, liabilities or expenses shall result from any claim by any Indemnitee or by any third party; and (ii) 

  

			
	Agency Agreement (PIPE and Warrant Exercise)	  	Page 19

 
reimburse each Indemnitee for any legal or other expenses reasonably incurred in connection with investigating or defending against any such loss, claim, action, proceeding or investigation;
provided, however, the Company will not be liable in any such case to the extent that any such claim, damage or liability of a Agent is to have resulted from that Placement Agent’s gross negligence or willful misconduct. In addition to the
foregoing agreement to indemnify and reimburse, the Company will indemnify and hold harmless each Indemnitee against any and all losses, claims, damages, liabilities or expenses whatsoever (or actions or proceedings or investigations in respect
thereof), joint or several (which shall, for all purposes of this Agreement, include, but not be limited to, all reasonable costs of defense and investigation and all reasonable attorneys’ fees, including appeals) to which any Indemnitee may
become subject insofar as such costs, expenses, losses, claims, damages or liabilities arise out of or are based upon the claim of any person or entity that he or it is entitled to broker’s or finder’s fees from any Indemnitee in
connection with the Offering or the Warrant Exercise as a result of the Company obligating itself or any Indemnitee to pay such a fee, other than fees due to the Agents, its dealers, sub-agents or finders. The foregoing indemnity agreements
will be in addition to any liability the Company may otherwise have. The Indemnitees are intended third party beneficiaries of this provision. 

(b) Promptly after receipt by an indemnified party under this Section 8 of notice of the commencement of any action, claim, proceeding or
investigation (the “Action”), such indemnified party, if a claim in respect thereof is to be made against the indemnifying party under this Section 8, will notify the indemnifying party of the commencement thereof, but the omission to so
notify the indemnifying party will not relieve it from any liability that it may have to any indemnified party under this Section 8 unless the indemnifying party has been substantially prejudiced by such omission. The indemnifying party will be
entitled to participate in and, to the extent that it may wish, jointly with any other indemnifying party, to assume the defense thereof subject to the provisions herein stated, with counsel reasonably satisfactory to such indemnified
party. The indemnified party will have the right to employ separate counsel in any such Action and to participate in the defense thereof, but the fees and expenses of such counsel will not be at the expense of the indemnifying party if the
indemnifying party has assumed the defense of the Action with counsel reasonably satisfactory to the indemnified party, provided, however, that if the indemnified party shall be requested by the indemnifying party to participate in the defense
thereof or shall have concluded in good faith and specifically notified the indemnifying party either that there may be specific defenses available to it that are different from or additional to those available to the indemnifying party or that such
Action involves or could have a material adverse effect upon it with respect to matters beyond the scope of the indemnity agreements contained in this Agreement, then the counsel representing it, to the extent made necessary by such defenses, shall
have the right to direct such defenses of such Action on its behalf and in such case the reasonable fees and expenses of such counsel in connection with any such participation or defenses shall be paid by the indemnifying party. No settlement
of any Action against an indemnified party will be made without the consent of the indemnifying party and the indemnified party, which consent shall not be unreasonably withheld or delayed in light of all factors of importance to such party, and no
indemnifying party shall be liable to indemnify any person for any settlement of any such claim effected without such indemnifying party’s consent. Notwithstanding the immediately preceding sentence, if at any time an indemnified party
requests the indemnifying party to reimburse the indemnified party for legal or other expenses in connection with investigating, responding to or defending any Proceedings as contemplated by this indemnity agreement, the indemnifying party will be
liable for any settlement of any Proceedings effected without its written consent if (i) the proposed settlement is entered into more than 30 days after receipt by the indemnifying party of the request for reimbursement, (ii) the indemnifying party
has not reimbursed the indemnified party within 30 days of such request for reimbursement, (iii) the indemnified party delivered written notice to the indemnifying party of its intention to settle and the failure to pay within such 30 day period,
and (iv) the indemnifying party does not, within 15 days of receipt of the notice of the intention to settle and failure to pay, reimburse the indemnified party for such legal or other expenses and object to the indemnified party’s seeking to
settle such Proceedings. 

  

			
	Agency Agreement (PIPE and Warrant Exercise)	  	Page 20

 9. Contribution. To provide for just and equitable contribution, if:
(i) an indemnified party makes a claim for indemnification pursuant to Section 8 hereof and it is finally determined, by a judgment, order or decree not subject to further appeal that such claims for indemnification may not be enforced, even though
this Agreement expressly provides for indemnification in such case; or (ii) any indemnified or indemnifying party seeks contribution under the Act, the Exchange Act, or otherwise, then each indemnifying party shall contribute to such amount paid or
payable by such indemnified party in such proportion as is appropriate to reflect not only such relative benefits but also the relative fault of the Company on the one hand and the respective Agent on the other in connection with the statements or
omissions which resulted in such losses, claims, damages, liabilities or expenses (or actions in respect thereof), as well as any other relevant equitable considerations. The relative benefits received by the Company on the one hand and the
respective Agent on the other shall be deemed to be in the same proportion as the total net proceeds from the Offering (before deducting expenses) received by the Company bear to the total respective Placement Agent’s Compensation received
by the Placement Agent. The relative fault, in the case of an untrue statement, alleged untrue statement, omission or alleged omission will be determined by, among other things, whether such statement, alleged statement, omission or alleged omission
relates to information supplied by the Company or by the Agents, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement, alleged statement, omission or alleged omission. The
Company and the Agents agree that it would be unjust and inequitable if the respective obligations of the Company and the Agents for contribution were determined by pro rata allocation of the aggregate losses, liabilities, claims, damages and
expenses or by any other method or allocation that does not reflect the equitable considerations referred to in this Section 9. No person guilty of a fraudulent misrepresentation (within the meaning of Section 10(f) of the Act) will be entitled
to contribution from any person who is not guilty of such fraudulent misrepresentation. For purposes of this Section 9, each person, if any, who controls the respective Agent within the meaning of the Act will have the same rights to
contribution as the respective Placement Agent, and each person, if any, who controls the Company within the meaning of the Act will have the same rights to contribution as the Company, subject in each case to the provisions of this Section
9. Anything in this Section 9 to the contrary notwithstanding, no party will be liable for contribution with respect to the settlement of any claim or action effected without its written consent. This Section 9 is intended to supersede, to
the extent permitted by law, any right to contribution under the Act, the Exchange Act or otherwise available. 
 10.
Termination. 
 (a) The Offering may be terminated by the Agents at any time prior to the expiration of the Offering Period in
the event that: (i) any of the representations, warranties or covenants of the Company contained herein or in the Subscription Documents shall prove to have been false or misleading in any material respect when actually made; (ii) the Company shall
have failed to perform any of its material obligations hereunder or under any other Company Transaction Document or any other transaction document; (iii) there shall occur any event, within the control of the Company that is reasonably likely to
materially and adversely affect the transactions contemplated hereunder or the ability of the Company to perform hereunder; or (iv) the Agents determine that it is reasonably likely that any of the conditions to Closing to be fulfilled by the
Company set forth herein will not, or cannot, be satisfied.
 (b) This Offering may be terminated by the Company at any time prior to the
Termination Date in the event that (i) the Agents shall have failed to perform any of its material obligations hereunder or (ii) on account of one of the Placement Agent’s fraud, illegal or willful misconduct or gross negligence. In the
event of any termination by the Company, the Agents shall be entitled to receive, on the Termination Date, all unpaid respective compensation as set forth in Section 3A and 3B herein earned or accrued through the Termination Date and reimbursement
of all expenses as provided for in this Agreement, but shall be entitled to no other amounts whatsoever except as may be due under any indemnity or contribution obligation for provided herein, at law or otherwise. On such Termination Date, the
Company shall pay Katalyst’s counsel fees in connection with the Offering, as provided for herein. 

  

			
	Agency Agreement (PIPE and Warrant Exercise)	  	Page 21

 (c) This Offering may be terminated upon mutual agreement of the Company and the Agents at any
time prior to the expiration of the Offering Period.
 (d) This Offering and this Agreement may be terminated by the Company at any time
after September 7, 2016, in the event that the Company has not formally accepted subscriptions for at least the Minimum Amount by such date. In the event of any termination by the Company under this clause (d), Katalyst shall be entitled to
receive, on the Termination Date, payment of the Katalyst Legal Fee and reimbursement of the Katalyst Expenses as provided for in paragraph 5(h) of this Agreement and GPN shall be entitled to receive, on the Termination Date, reimbursement of the
GPN Expenses as provided for in paragraph 5(h) of this Agreement, but the Agents shall be entitled to no other amounts whatsoever except as may be due under any indemnity or contribution obligation for provided herein, at law or otherwise.

(e) Except as otherwise provided above, before any termination by the Agents under Section 10(a) or by the Company under Section 10(b) shall
become effective, the terminating party shall give ten (10) day prior written notice to the other party of its intention to terminate the Offering (the “Termination Notice”). The Termination Notice shall specify the grounds for the
proposed termination. If the specified grounds for termination, or their resulting adverse effect on the transactions contemplated hereby, are curable, then the other party shall have five (5) days from the Termination Notice within which to remove
such grounds or to eliminate all of their material adverse effects on the transactions contemplated hereby; otherwise, the Offering shall terminate. 

(f) Upon any termination pursuant to this Section 10, the Agents and the Company will instruct the Escrow Agent to cause all monies received
with respect to the subscriptions for Securities not accepted by the Company to be promptly returned to such subscribers without interest, penalty or deduction. 

11. Survival. 

(a) The obligations of the parties to pay any costs and expenses hereunder and to provide indemnification and contribution as provided herein
shall survive any termination hereunder. In addition, the provisions of Sections 3, and 8 through 20 shall survive the sale of the Securities or any termination of the Offering hereunder. 

(b) The respective indemnities, covenants, representations, warranties and other statements of the Company and the Agents set forth in or made
pursuant to this Agreement will remain in full force and effect, regardless of any investigation made by or on behalf of, and regardless of any access to information by the Company or the Agents, or any of their officers or directors or any
controlling person thereof, and will survive the sale of the Securities or any termination of the Offering hereunder.
 12.
Notices. All notice and other communications hereunder will be in writing and shall be deemed effectively given to a party by (a) personal delivery; (b) upon deposit with the United States Post Office, by certified mail, return
receipt requested, first-class mail, postage prepaid; (c) delivered by hand or by messenger or overnight courier, addressee signature required, to the addresses below or at such other address and/or to such other persons as shall have been furnished
by the parties: 
  

			
	If to the Company:	  	TapImmune Inc.
		  	50 North Laura Street
		  	Suite 2500
		  	Jacksonville, FL 32202
		  	Attn: Mr. Glynn Wilson, Ph.D
		  	E-mail: gwilson@tapimmune.com

  

			
	Agency Agreement (PIPE and Warrant Exercise)	  	Page 22

			
	With a copy to:	  	Shumaker, Loop & Kendrick, LLP
	(which shall not constitute notice)	  	 101 East Kennedy Boulevard, Ste 2800
 Tampa, FL
33602

		  	Attention: Mark A. Catchur, Esq.
		
	If to Katalyst Securities LLC.	  	Katalyst Securities, LLC
		  	1330 Avenue of the Americas, 14th Floor
		  	New York, NY 10019
		  	Attention: Michael Silverman
		  	Managing Director
		
	With a copy to:	  	Barbara J. Glenns, Esq.
	(which shall not constitute notice)	  	Law Office of Barbara J. Glenns, Esq.
		  	30 Waterside Plaza, Suite 25G
		  	New York, NY 10010
		
	If to GP Nurmenkari Inc.	  	GP Nurmenkari Inc.
		  	18 East 41st Street, Suite 1902
		  	New York, NY 10017
		  	Attention: Jeffrey Berman
		  	Director
		
	With a copy to:	  	Sanders Ortoli Vaugh-Flam Rosenstadt LLP
	(which shall not constitute notice)	  	 501 Madison Avenue
 New York, NY
10022

		  	Attention: William Rosenstadt

 13. Governing Law, Jurisdiction. This Agreement shall be deemed to have been made
and delivered in New York City and shall be governed as to validity, interpretation, construction, effect and in all other respects by the internal laws of the State of New York without regard to principles of conflicts of law thereof. 

THE PARTIES HERETO AGREE TO SUBMIT ALL CONTROVERSIES TO THE EXCLUSIVE JURISDICTION OF FINRA ARBITRATION IN ACCORDANCE WITH THE PROVISIONS
SET FORTH BELOW AND UNDERSTAND THAT (A) ARBITRATION IS FINAL AND BINDING ON THE PARTIES, (B) THE PARTIES ARE WAIVING THEIR RIGHTS TO SEEK REMEDIES IN COURT, INCLUDING THE RIGHT TO A JURY TRIAL, (C) PRE-ARBITRATION DISCOVERY IS GENERALLY MORE LIMITED
AND DIFFERENT FROM COURT PROCEEDINGS, (D) THE ARBITRATOR’S AWARD IS NOT REQUIRED TO INCLUDE FACTUAL FINDINGS OR LEGAL REASONING AND ANY PARTY’S RIGHT TO APPEAL OR TO SEEK MODIFICATION OF RULES BY ARBITRATORS IS STRICTLY LIMITED, (E) THE
PANEL OF FINRA ARBITRATORS WILL TYPICALLY INCLUDE A MINORITY OF ARBITRATORS WHO WERE OR ARE AFFILIATED WITH THE SECURITIES INDUSTRY, AND (F) ALL CONTROVERSIES WHICH MAY ARISE BETWEEN THE PARTIES CONCERNING THIS AGREEMENT SHALL BE DETERMINED BY
ARBITRATION PURSUANT TO THE RULES THEN PERTAINING TO FINRA. ALL QUESTIONS CONCERNING THE CONSTRUCTION, VALIDITY, ENFORCEMENT AND INTERPRETATION OF THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK. 

  

			
	Agency Agreement (PIPE and Warrant Exercise)	  	Page 23

 
JUDGMENT ON ANY AWARD OF ANY SUCH ARBITRATION MAY BE ENTERED IN THE SUPREME COURT OF THE STATE OF NEW YORK OR IN ANY OTHER COURT HAVING JURISDICTION OVER THE PERSON OR PERSONS AGAINST WHOM SUCH
AWARD IS RENDERED. THE PARTIES AGREE THAT THE DETERMINATION OF THE ARBITRATORS SHALL BE BINDING AND CONCLUSIVE UPON THEM. THE PREVAILING PARTY, AS DETERMINED BY SUCH ARBITRATORS, IN A LEGAL PROCEEDING SHALL BE ENTITLED TO COLLECT ANY
COSTS, DISBURSEMENTS AND REASONABLE ATTORNEY’S FEES FROM THE OTHER PARTY. PRIOR TO FILING AN ARBITRATION, THE PARTIES HEREBY AGREE THAT THEY WILL ATTEMPT TO RESOLVE THEIR DIFFERENCES FIRST BY SUBMITTING THE MATTER FOR RESOLUTION TO A
MEDIATOR, ACCEPTABLE TO ALL PARTIES, AND WHOSE EXPENSES WILL BE BORNE EQUALLY BY ALL PARTIES. THE MEDIATION WILL BE HELD IN THE COUNTY OF NEW YORK, STATE OF NEW YORK, ON AN EXPEDITED BASIS. IF THE PARTIES CANNOT SUCCESSFULLY RESOLVE THEIR
DIFFERENCES THROUGH MEDIATION, THE MATTER WILL BE RESOLVED BY ARBITRATION. THE ARBITRATION SHALL TAKE PLACE IN THE COUNTY OF NEW YORK, THE STATE OF NEW YORK, ON AN EXPEDITED BASIS.

14. Miscellaneous. 

(a) No provision of this Agreement may be changed or terminated except by a writing signed by the party or parties to be charged therewith.
Unless expressly so provided, no party to this Agreement will be liable for the performance of any other party’s obligations hereunder. Either party hereto may waive compliance by the other with any of the terms, provisions and conditions set
forth herein; provided, however, that any such waiver shall be in writing specifically setting forth those provisions waived thereby. No such waiver shall be deemed to constitute or imply waiver of any other term, provision or condition of this
Agreement. Neither party may assign its rights or obligations under this Agreement to any other person or entity without the prior written consent of the other party. 

(b) Each party shall, without payment of any additional consideration by any other party, at any time on or after the date of any Closings,
take such further action and execute such other and further documents and instruments as the other party may reasonably request in order to provide the other party with the benefits of this Agreement. 

(c) The Parties to this Agreement each hereby confirm that they will cooperate with each other to the extent that it may become necessary to
enter into any revisions or amendments to this Agreement, in the future to conform to any federal or state regulations as long as such revisions or amendments do not materially alter the obligations or benefits of either party under this Agreement.

 15. Entire Agreement; Severability. This Agreement together with any other agreement referred to herein
supersedes all prior understandings and written or oral agreements between the parties with respect to the Offering and the Warrant Exercise and the subject matter hereof. If any portion of this Agreement shall be held invalid or unenforceable, then
so far as is reasonable and possible (i) the remainder of this Agreement shall be considered valid and enforceable and (ii) effect shall be given to the intent manifested by the portion held invalid or unenforceable. 

16. Counterparts. This Agreement may be executed in multiple counterparts, each of which may be executed by less
than all of the parties and shall be deemed to be an original instrument which shall be enforceable against the parties actually executing such counterparts and all of which together shall constitute one and the same instrument. The exchange of
copies of this Agreement and of signature pages by facsimile transmission or in pdf format shall constitute effective execution and delivery of this Agreement as to the parties and may be used in lieu of the original Agreement for all purposes.
Signatures of the parties transmitted by facsimile or in pdf format shall be deemed to be their original signatures for all purposes. 

  

			
	Agency Agreement (PIPE and Warrant Exercise)	  	Page 24

 17. Announcement of Offering. The Agents and their counsels and
advisors may, subsequent to the closing of any Offering or the Warrant Exercise, make public their involvement with the Company, including use of the Company’s trademarks and logos. The Agents’ counsels and advisors are intended third
party beneficiaries of this Section. 
 18. Advice to the Board. The Company acknowledges that any advice given by
the Agents to the Company is solely for benefit and use of the Company’s board of directors and officers, who will make all decisions regarding whether and how to pursue any opportunity or transaction, including any potential Offering and the
Warrant Exercise. The Company’s board of directors and management may consider such advice, but will also base their decisions on the advice of legal, tax and other business advisors and other factors which they consider appropriate.
Accordingly, as an independent contractor, the Agents will not assume the responsibilities of a fiduciary to the Company or its stockholders in connection with the performance of the services. Any advice provided may not be used, reproduced,
disseminated, quoted or referred to without prior written consent of the providing party. The Agents do not provide accounting, tax or legal advice. The Company is a sophisticated business enterprise that has retained the Agents for the limited
purposes set forth in this Agreement. The parties acknowledge and agree that their respective rights and obligations are contractual in nature. Each party disclaims an intention to impose fiduciary obligations on the other by virtue of the
engagement contemplated by this Agreement. 
 19. Other Investment Banking Services. The Company acknowledges that
the Agents and their affiliates are securities firms engaged in securities trading and brokerage activities and providing investment banking and financial advisory services. In the ordinary course of business, the Agents and their affiliates
may at any time hold long or short positions, and may trade or otherwise effect transactions, for their own account or the accounts of customers, in the Company’s debt or equity securities, its affiliates or other entities that may be involved
in the transactions contemplated by this Agreement. In addition, the Agents and their affiliates may from time to time perform various investment banking and financial advisory services for other clients and customers who may have conflicting
interests with respect to the Company, the Offering or the Warrant Exercise. The Company also acknowledges that the Agents and their affiliates have no obligation to use in connection with this engagement or to furnish the Company, confidential
information obtained from other companies. Furthermore, the Company acknowledges the Agents may have fiduciary or other relationships whereby it or its affiliates may exercise voting power over securities of various persons, which securities may
from time to time include securities of the Company or others with interests in respect of any Offering or the Warrant Exercise. The Company acknowledges that the Agents or such affiliates may exercise such powers and otherwise perform our functions
in connection with such fiduciary or other relationships without regard to the Agents’ relationship to the Company hereunder. 

20. Successors. This Agreement shall inure to the benefit of and be binding upon the successors of the respective
Agent and of the Company (including any party that acquires the Company or all or substantially all of its assets or merges with the Company). Nothing expressed or mentioned in this Agreement is intended or shall be construed to give any person or
corporation, other than the parties hereto and parties expressly referred to herein, any legal or equitable right, remedy or claim under or in respect to this Agreement or any provision hereof. The term “successors” shall not include
any purchaser of the Securities merely by reason of such purchase. No subrogee of a benefited party shall be entitled to any benefits hereunder. Each party hereto disclaims any an intention to impose any fiduciary obligation on any other
party by virtue of the arrangements contemplated by this Agreement. 

  

			
	Agency Agreement (PIPE and Warrant Exercise)	  	Page 25

 [Signatures on following page.] 

  

			
	Agency Agreement (PIPE and Warrant Exercise)	  	Page 26

 If the foregoing is in accordance with your understanding of the agreement among the Company and
the Agents, kindly sign and return this Agreement, whereupon it will become a binding agreement as provided herein, among the Company and the Agents in accordance with its terms. 

This Agreement contains a pre-dispute arbitration provision in paragraph 13. 

 

			
	TAPIMMUNE, INC.
		
	By:	 	 /s/ Glynn Wilson

		 	Glynn Wilson, Ph.D
		 	Chief Executive Officer
	
	KATALYST SECURITIES LLC
		
	By:	 	 /s/ Michael A. Silverman

		 	Michael A. Silverman
		 	Managing Director
	
	GP NURMENKARI INC.
		
	By:	 	 /s/ Albert Pezone

		 	Albert Pezone
		 	Chief Executive Officer

  

			
	Agency Agreement (PIPE and Warrant Exercise)	  	Page 27

 FIRST AMENDMENT 

This First Amendment to Placement Agency Agreement (“Amendment”) is entered into as of the 29th day of July 2016, by and among TapImmune Inc. (“Company”), Katalyst Securities LLC and GP Nurmenkari Inc. (collectively referred to as the “Agents”) and amends the Agency
Agreement dated July 21, 2016 (the “Agreement”). 
 The Parties to the Agreement hereby amend and restate in its entirety the following of the
Agreement to read as follows: 
 1. Appointment of Agents. 

(a) On the basis of the written and documented representations and warranties of the Company provided herein, and subject to the terms and
conditions set forth herein, the Company hereby appoints (i) each Agent as an Agent of the Company during the Offering Period (as defined in Section 1(b) below) to assist the Company in finding qualified subscribers for the Offering and (ii) GPN as
an Agent of the Company during the Offering Period to assist the Company with its solicitation of certain of the warrant holders to participate in the Warrant Exercise and to modify other warrants (the “Warrant Modification”) as described
in Section 4(c) of the Subscription Agreement (as defined herein). Katalyst may offer the Securities through other broker-dealers who are FINRA members (collectively, the “Sub Agents”) and may reallow all or a portion of Katalyst’s
Broker Compensation (as defined in Section 3A below) it receives to such other Sub Agents or pay a finders or consultant fee as allowed by applicable law. On the basis of such representations and warranties and subject to such terms and conditions,
the Agents hereby accept such appointment and agree to perform the services hereunder diligently and in good faith and in a professional and businesslike manner and in compliance with applicable law and to use its reasonable best efforts to assist
the Company in finding subscribers of the Securities who qualify as “accredited investors,” as such term is defined in Rule 501 of Regulation D. The Agents have no obligation to purchase any of the Securities or sell any Securities. Unless
sooner terminated in accordance with this Agreement, the engagement of each Agent pursuant to subclause (i) above shall continue until the later of the Termination Date or the Final Closing (as defined below) and the engagement of GPN hereunder
shall continue until the earlier of one-year from the date hereof or completion of the Warrant Exercise and the Warrant Modification. The Offering is currently anticipated to be the private placement of Units (“Units”), with each Unit
consisting of (i) one share of the Company’s common stock (the “Common Stock”), par value $0.001 (each, a “Share”) and (ii) one warrant to purchase one share of Common Stock with an exercise price equal to 125% of the
Purchase Price (defined below) (each, a “Warrant” and collectively with the Shares, the Warrant Shares (as defined herein) and the Units, the “Securities”). The Offering is for a minimum of gross proceeds of Two Million Dollars
($2,000,000) (the “Minimum Offering”) and a maximum of gross proceeds of Four Million Dollars ($4,000,000 (the “Maximum Offering”) through the sale of the Units, with an over-subscription option up to an additional One Million
Dollars ($1,000,000). The offering price per Unit will be the lesser of (i) 90% of the weighted average closing prices of the Common Stock for the five (5) trading days preceding the Initial Closing of the Offering, and (ii) Fifty Cents ($0.50) (the
“Purchase Price”). The minimum subscription is Twenty Five Thousand Dollars ($25,000), provided, however, that subscriptions in lesser amounts may be accepted by the Company in its sole discretion. 

  

					
		  	1	  	
	Agency Agreement (PIPE and Warrant Exercise)	  		  	Page 28

 This Amendment is hereby made part of and incorporated into the Agreement, with all the terms and
conditions of the Agreement remaining in full force and effect, except to the extent modified hereby. 
 This Amendment may be executed in
multiple counterparts, each of which may be executed by less than all of the parties and shall be deemed to be an original instrument which shall be enforceable against the parties actually executing such counterparts and all of which together shall
constitute one and the same instrument. The exchange of copies of this Amendment and of signature pages by facsimile transmission or in pdf format shall constitute effective execution and delivery of this Amendment as to the parties and may be used
in lieu of the original Amendment for all purposes. Signatures of the parties transmitted by facsimile or in pdf format shall be deemed to be their original signatures for all purposes. 

IN WITNESS WHEREOF, this Amendment has been executed and delivered by the parties below effective as of the date first set forth above. 

 

			
	TAPIMMUNE, INC.
		
	By:	 	 Glynn Wilson

		 	Glynn Wilson, Ph.D
		 	Chief Executive Officer
	
	KATALYST SECURITIES LLC
		
	By:	 	 /s/ Michael A. Silverman

		 	Michael A. Silverman
		 	Managing Director
	
	GP NURMENKARI INC.
		
	By:	 	 /s/ Albert Pezone

		 	Albert Pezone
		 	Chief Executive Officer

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00261-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00261-of-00352.parquet"}]]