Document:

Exhibit
4.3

 

THE
REGISTERED HOLDER OF THIS UNIT PURCHASE OPTION BY ITS ACCEPTANCE HEREOF, AGREES THAT IT WILL NOT SELL, TRANSFER OR ASSIGN THIS
UNIT PURCHASE OPTION EXCEPT AS HEREIN PROVIDED AND THE REGISTERED HOLDER OF THIS UNIT PURCHASE OPTION AGREES THAT IT WILL NOT
SELL, TRANSFER, ASSIGN, PLEDGE OR HYPOTHECATE, OR BE THE SUBJECT OF ANY HEDGING, SHORT SALE, DERIVATIVE, PUT, OR CALL TRANSACTION
THAT WOULD RESULT IN THE EFFECTIVE ECONOMIC DISPOSITION OF THIS UNIT PURCHASE OPTION, FOR A PERIOD OF ONE HUNDRED EIGHTY (180)
DAYS FOLLOWING THE EFFECTIVE DATE (DEFINED BELOW) TO ANYONE OTHER THAN (I) DAWSON JAMES SECURITIES, INC. OR AN UNDERWRITER OR
A SELECTED DEALER IN CONNECTION WITH THE OFFERING (DEFINED BELOW), OR (II) A BONA FIDE OFFICER OR PARTNER OF DAWSON JAMES SECURITIES,
INC. OR OF ANY SUCH UNDERWRITER OR SELECTED DEALER.

 

UNIT
PURCHASE OPTION

 

FOR
THE PURCHASE OF [●] UNITS

 

OF
VAPOR CORP.

 

1.
Unit Purchase Option.

 

THIS
CERTIFIES THAT, in consideration of $100.00 duly paid by or on behalf of Dawson James Securities, Inc. (“Dawson”
or “Holder”), as registered owner of this Unit Purchase Option, to Vapor Corp. (the “Company”),
Holder is entitled, at any time or from time to time over a four and one-half year period commencing on the 180th day
after the effective date (the “Effective Date”) of the registration statement (the “Registration Statement”)
pursuant to which certain units are offered for sale to the public (the “Offering”) (the “Commencement
Date”), and at or before 5:00 p.m., Eastern Time, on the fifth anniversary of the Effective Date (the “Expiration
Date”), but not thereafter, to subscribe for, purchase and receive, in whole or in part, up to [●] units (the
“Units”) of the Company, each Unit consisting of one-fourth share of Series A Convertible Preferred
Stock (the “Preferred Stock”) which is convertible into [___] shares of the Company’s common stock,
par value $0.001 per share (the “Shares”) and [___] Series A Warrants, each to purchase one Share
(the “Warrant(s)”). Each Warrant is the same as the warrants included in the Units being registered for sale
to the public (the “Public Warrants”) under the Securities Act of 1933, as amended (the “Act”).
If the Expiration Date is a day on which banking institutions are authorized by law to close, then this Unit Purchase Option may
be exercised on the next succeeding day which is not such a day in accordance with the terms herein. During the period ending
on the Expiration Date, the Company agrees not to take any action that would terminate the Unit Purchase Option. This Unit Purchase
Option is initially exercisable at $[●] per Unit (or 125% of the public offering price of the Units being sold in the Offering)
so purchased; provided, however, that upon the occurrence of any of the events specified in Section 5 hereof, the rights granted
by this Unit Purchase Option, including the exercise price per Unit and the number of Units (and Preferred Stock and Warrants)
to be received upon such exercise, shall be adjusted as therein specified. The term “Exercise Price” shall
mean the initial exercise price or the adjusted exercise price, depending on the context.

 

2.
Exercise.

 

(a)
Exercise Procedure. In order to
exercise this Unit Purchase Option, the exercise form attached hereto must be duly executed and completed and delivered to the
Company, together with this Unit Purchase Option and payment of the Exercise Price for the Units being purchased payable in cash
or by certified check or official bank check. If the subscription rights represented hereby shall not be exercised at or before
5:00 p.m., Eastern time, on the Expiration Date, this Unit Purchase Option shall become and be void without further force or effect,
and all rights represented hereby shall cease and expire.

 

    	 

    	 

    

 

(b)
Legend. If required by applicable
law at the time of any exercise, each certificate for the securities purchased under this Unit Purchase Option shall bear a legend
as follows unless such securities have been registered under the Act:

 

“The
securities represented by this certificate have not been registered under the Securities Act of 1933, as amended (the “Act”)
or applicable state law. The securities may not be offered for sale, sold or otherwise transferred except pursuant to an effective
registration statement under the Act, or pursuant to an exemption from registration under the Act and applicable state law.”

 

(c)
Cashless Exercise.

 

(i)
In lieu of the payment of the Exercise Price multiplied by the number of Units for which this Unit Purchase Option is exercisable
(and in lieu of being entitled to receive Preferred Stock and Warrants) in the manner required by Section 2(a), the Holder shall
have the right (but not the obligation) to convert any exercisable but unexercised portion of this Unit Purchase Option into Units
consisting of Preferred Stock (or the equivalent number of Shares underlying the Preferred Stock if the Preferred Stock is then
convertible into Shares) and Warrants (the “Conversion Right”) as follows: upon exercise of the Conversion
Right, the Company shall deliver to the Holder (without payment by the Holder of any of the Exercise Price in cash) that number
of shares of Preferred Stock (or the equivalent number of Shares underlying the Preferred Stock if the Preferred Stock is then
convertible into Shares) and Warrants comprising that number of Units equal to the quotient obtained by dividing (x) the “Value”
(as defined below) of the portion of the Unit Purchase Option being converted by (y) the Current Market Value (as defined below).
The “Value” of the portion of the Unit Purchase Option being converted shall equal the remainder derived from subtracting
(a) (i) the Exercise Price multiplied by (ii) the number of Units underlying the portion of this Unit Purchase Option being converted
from (b) the Current Market Value of a Unit multiplied by the number of Units underlying the portion of the Unit Purchase Option
being converted. As used herein, the term “Current Market Value” per Unit at any date means the remainder derived
from subtracting (x) the exercise price of the Warrants multiplied by the number of shares of Shares issuable upon exercise of
the Warrants underlying one Unit from (y) the Current Market Price of the Shares multiplied by the number of Shares underlying
the Warrants and shares of the Preferred Stock underlying one Unit (which shall be equal to the Shares underlying the Preferred
Stock included in such Unit). The “Current Market Price” of a Share shall mean (i) if the Shares are listed on a national
securities exchange or quoted the OTC Markets (or any successor exchange or entity), the closing or last sale price of the Shares
in the principal trading market for the Shares as reported by the exchange or the OTC Markets, as the case may be; (ii) if the
Shares are not listed on a national securities exchange or quoted on the OTC Markets, but is traded in the residual over-the-counter
market, the closing bid price for the Shares on the last trading day preceding the date in question for which such quotations
are reported by a recognized publisher of such quotations; and (iii) if the fair market value of the Shares cannot be determined
pursuant to clause (i) or (ii) above, such price as the Board of Directors of the Company shall determine, in good faith.

 

(ii)
The Cashless Exercise Right may be exercised by the Holder on any business day on or after the Commencement Date and not later
than the Expiration Date by delivering the Unit Purchase Option with the duly executed exercise form attached hereto with the
cashless exercise section completed to the Company, exercising the Cashless Exercise Right and specifying the total number of
Units the Holder will purchase pursuant to such Cashless Exercise Right.

 

3.
Transfer.

 

(a)
Restrictions—General. The registered Holder of this Unit Purchase Option, by its acceptance hereof, agrees that it will
not sell, transfer, assign, pledge or hypothecate, or be the subject of any hedging, short sale, derivative, put, or call
transaction that would result in the effective economic disposition of, this Unit Purchase Option (or any securities
underlying this Unit Purchase Option) for a period of one hundred eighty (180) days following the Effective Date to anyone
other than (i) Dawson or an underwriter or a selected dealer in connection with the Offering, or (ii) a bona fide
officer or partner of Dawson or of any such underwriter or selected dealer. In order to make any permitted assignment, the
Holder must deliver to the Company the assignment form attached hereto duly executed and completed, together with the Unit
Purchase Option and payment of all transfer taxes, if any, payable in connection therewith. The Company shall within three
business days transfer this Unit Purchase Option on the books of the Company and shall execute and deliver a new Unit
Purchase Option or Unit Purchase Options of like tenor to the appropriate assignee(s) expressly evidencing the right to
purchase the aggregate number of Units purchasable hereunder or such portion of such number as shall be contemplated by any
such assignment.

  

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(b)
Restrictions—Securities. The
securities evidenced by this Unit Purchase Option shall not be transferred unless and until (i) the Company has received
the opinion of counsel for the Company (at the Company’s expense) that the securities may be transferred pursuant to an
exemption from registration under the Act and applicable state securities laws, the availability of which is established to the
reasonable satisfaction of the Company, or (ii) a registration statement or a post-effective amendment to the Registration
Statement relating to such securities has been filed by the Company and declared effective by the Securities and Exchange Commission
(the “Commission”) and compliance with applicable state securities law has been established.

 

4.
New Purchase Options to be Issued.

 

(a)
Partial Exercise. Subject
to the restrictions in Section 3 hereof, this Unit Purchase Option may be exercised or assigned in whole or in part. In the event
of the exercise or assignment hereof in part only, upon surrender of this Unit Purchase Option for cancellation, together with
the duly executed exercise or assignment form and funds sufficient to pay any Exercise Price, the Company shall cause to be delivered
to the Holder without charge a new Unit Purchase Option of like tenor to this Unit Purchase Option in the name of the Holder evidencing
the right of the Holder to purchase the number of Units purchasable hereunder as to which this Unit Purchase Option has not been
exercised or assigned.

 

(b)
Loss, Theft, Destruction.
Upon receipt by the Company of evidence satisfactory to it of the loss, theft, destruction or mutilation of this Unit Purchase
Option and of reasonably satisfactory indemnification or the posting of a bond, the Company shall execute and deliver a new Unit
Purchase Option of like tenor and date. Any such new Unit Purchase Option executed and delivered as a result of such loss, theft,
mutilation or destruction shall constitute a substitute contractual obligation on the part of the Company.

 

5.
Adjustments.

 

(a)
Exercise Price and Number of Securities.
The Exercise Price and the number of Units underlying the Unit Purchase Option shall be subject to adjustment from time to time
as hereinafter set forth (all references to Shares below shall represent the number of Shares underlying the Preferred Stock in
the Unit to the extent the Preferred Stock is then outstanding):

 

(i)
If after the date hereof, and subject to the provisions of Section 5(c) below, the number of outstanding Shares is increased by
a stock dividend payable in Shares or by a split-up of Shares or other similar event, then, on the effective date thereof, the
number of Shares underlying each of the Units purchasable hereunder shall be increased in proportion to such increase in outstanding
shares. In such case, the number of Shares, and the exercise price applicable thereto, underlying the Warrants underlying each
of the Units purchasable hereunder shall be adjusted in accordance with the terms of the Warrants. For example, if the Company
declares a two-for-one stock dividend and immediately prior to such dividend this Unit Purchase Option is for the purchase of
one Unit at $10.00 per whole Unit (with each Warrant underlying the Units being exercisable for $12.50 per share), upon effectiveness
of the dividend, this Unit Purchase Option will be adjusted to allow for the purchase of one Unit at $10.00 per Unit, each Unit
entitling the holder to receive two Shares and two Warrants (each Warrant exercisable for $6.25 per share).

 

(ii)
If after the date hereof, and subject to the provisions of Section 5(c), the number of outstanding Shares is decreased by a consolidation,
combination or reclassification of the Shares or other similar event, then, on the effective date thereof, the number of Shares
underlying each of the Units purchasable hereunder shall be decreased in proportion to such decrease in outstanding shares. In
such case, the number of Shares, and the exercise price applicable thereto, issuable upon exercise of the Warrants included in
each of the Units purchasable hereunder shall be adjusted in accordance with the terms of the Warrants. For example, if the Company
effects a one-for-two stock reverse stock split and immediately prior to such stock split this Unit Purchase Option is for the
purchase of one Unit at $10.00 per whole Unit (with each Warrant underlying the Units being exercisable for $12.50 per share),
upon effectiveness of the stock split, this Unit Purchase Option will be adjusted to allow for the purchase of one Unit at $10.00
per Unit, each Unit entitling the holder to receive 0.5 Shares and 0.5 Warrants (each Warrant exercisable for $25.00 per share).

 

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(iii)
In case of any reclassification or reorganization of the outstanding Shares other than a change covered by Section 5(a)(i) or
5(a)(ii) hereof or that solely affects the par value of such Shares, or in the case of any merger or consolidation of the Company
with or into another corporation (other than a consolidation or merger in which the Company is the continuing corporation and
that does not result in any reclassification or reorganization of the outstanding Shares), or in the case of any sale or conveyance
to another corporation or entity of the property of the Company as an entirety or substantially as an entirety in connection with
which the Company is dissolved, the Holder of this Unit Purchase Option shall have the right thereafter (until the expiration
of the right of exercise of this Unit Purchase Option) to receive upon the exercise hereof, for the same aggregate Exercise Price
payable hereunder immediately prior to such event plus the aggregate exercise price of the Shares underlying the Warrants immediately
prior to such event, the kind and amount of shares of stock or other securities or property (including cash) receivable upon such
reclassification, reorganization, merger or consolidation, or upon a dissolution following any such sale or transfer, by a Holder
of the number of Shares of the Company obtainable upon exercise of this Unit Purchase Option and the underlying Warrants immediately
prior to such event; and if any reclassification also results in a change in Shares covered by Section 5(a)(i) or 5(a)(ii), then
such adjustment shall be made pursuant to Sections 5(a)(i) or 5(a)(ii) and this Section 5(a)(iii). The provisions of this Section
5(a)(iii) shall similarly apply to successive reclassifications, reorganizations, mergers or consolidations, sales or other transfers.

 

(iv)
This form of Unit Purchase Option need not be changed because of any change pursuant to this Section 5, and Unit Purchase Options
issued after such change may state the same Exercise Price and the same number of Units as are stated in the Unit Purchase Options
initially issued pursuant to this Agreement. The acceptance by any Holder of the issuance of new Unit Purchase Options reflecting
a required or permissive change shall not be deemed to waive any rights to an adjustment occurring after the Commencement Date
or the computation thereof.

 

(b)
Substitute Unit Purchase Option. In case of any consolidation
of the Company with, or merger of the Company with, or merger of the Company into, another corporation (other than a consolidation
or merger which does not result in any reclassification or change of the outstanding Shares), the corporation formed by such consolidation
or merger shall execute and deliver to the Holder a supplemental Unit Purchase Option providing that the holder of each Unit Purchase
Option then outstanding or to be outstanding shall have the right thereafter (until the stated expiration of such Unit Purchase
Option) to receive, upon exercise of such Unit Purchase Option, the kind and amount of shares of stock and other securities and
property receivable upon such consolidation or merger, by a holder of the number of Shares of the Company for which such Unit
Purchase Option might have been exercised immediately prior to such consolidation, merger, sale or transfer. Such supplemental
Unit Purchase Option shall provide for adjustments which shall be identical to the adjustments provided in this Section 5. The
above provision of this Section 5 shall similarly apply to successive consolidations or mergers.

 

(c)
Fractional Interests. The Company shall not be required to
issue certificates representing fractions of Shares or Warrants upon the exercise of the Unit Purchase Option, nor shall it be
required to issue scrip or pay cash in lieu of any fractional interests, it being the intent of the parties that all fractional
interests shall be eliminated by rounding any fraction up to the nearest whole number of Warrants, Shares or other securities,
properties or rights.

 

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6.
Reservation and Listing. The Company shall at all times reserve and keep available out of
its authorized Shares, solely for the purpose of issuance upon conversion of the Preferred Stock or exercise of the Warrants underlying
the Unit Purchase Option, such number of Shares or other securities, properties or rights as shall be issuable upon the conversion
or exercise thereof. The Company covenants and agrees that, upon conversion of the Preferred Stock underlying the Unit Purchase
Option, all Shares issuable upon such conversion shall be duly and validly issued, fully paid and non-assessable and not subject
to preemptive rights of any stockholder. The Company further covenants and agrees that upon exercise of the Warrants underlying
the Unit Purchase Option and payment of the respective Warrant exercise price therefor, all Shares and other securities issuable
upon such exercise shall be duly and validly issued, fully paid and non-assessable and not subject to preemptive rights of any
stockholder. As long as the Unit Purchase Option shall be outstanding, the Company shall use its best efforts to cause all (i)
Units issuable upon exercise of the Unit Purchase Option, (ii) Shares issuable upon conversion of the Preferred Stock included
in the Units issuable upon exercise of the Unit Purchase Option, and (iii) Shares issuable upon exercise of the Warrants included
in the Units issuable upon exercise of the Unit Purchase Option to be listed (subject to official notice of issuance) on all securities
exchanges (or, if applicable on the OTC Markets or any successor trading market) on which the Shares issued to the public in connection
with the Offering may then be listed and/or quoted; provided, however, that the Company shall only be required to comply with
(i) above to the extent the Units issued to the public in the Offering are still listed on a securities exchange.

 

7.
Certain Notice Requirements.

 

(a)
Right to Notice. Nothing herein shall be construed as conferring upon the Holders the right to vote or consent as a stockholder
for the election of directors or any other matter, or as having any rights whatsoever as a stockholder of the Company. If, however,
at any time prior to the expiration of the Unit Purchase Option and its exercise, any of the events described in Section 7(b)
shall occur, then, in one or more of said events, the Company shall give written notice of such event at least fifteen days prior
to the date fixed as a record date or the date of closing the transfer books for the determination of the stockholders entitled
to such dividend, distribution, conversion or exchange of securities or subscription rights, or entitled to vote on such proposed
dissolution, liquidation, winding up or sale. Such notice shall specify such record date or the date of the closing of the transfer
books, as the case may be. Notwithstanding the foregoing, the Company shall deliver to each Holder a copy of each notice given
to the other stockholders of the Company at the same time and in the same manner that such notice is given to all stockholders,
even if less than fifteen days.

 

(b)
Enumerated Events. The Company shall be required to give the notice described in this Section 7 upon one or more of the
following events: (i) if the Company shall take a record of the holders of its Shares for the purpose of entitling them to receive
a dividend or distribution payable otherwise than in cash, or a cash dividend or distribution payable otherwise than out of retained
earnings, as indicated by the accounting treatment of such dividend or distribution on the books of the Company, or (ii) the Company
shall offer to all the holders of its Shares any additional shares of capital stock of the Company or securities convertible into
or exchangeable for shares of capital stock of the Company, or any option, right or warrant to subscribe therefor, or (iii) a
dissolution, liquidation or winding up of the Company (other than in connection with a consolidation or merger) or a sale of all
or substantially all of its property, assets and business shall be proposed.

 

(c)
Change in Exercise Price. The Company shall, promptly after an event requiring a change in the Exercise Price pursuant
to Section 5 hereof, send notice to the Holders of such event and change (the “Price Notice”). The Price Notice
shall describe the event causing the change and the method of calculating same and shall be certified as being true and accurate
by the Company’s President and Chief Financial Officer.

 

(d)
Notice Delivery. All notices, requests, consents and other
communications under this Unit Purchase Option shall be in writing and shall be deemed to have been duly made when hand delivered,
or mailed by express mail or private courier service: (i) If to the registered Holder of the Unit Purchase Option, to the address
of such Holder as shown on the books of the Company, or (ii) If to the Company, to the following address or to such other address
as the Company may designate by notice to the Holders:

 

Vapor
Corp.

3001
Griffin Road

Dania
Beach, Florida 33312

Attn: Chief Financial Officer

 

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8.
Registration Rights.

 

(a)
Demand Registration.

 

(i)
Grant of Right. The Company, upon written demand (a “Demand Notice”) of the Holder(s) of at least 51%
of the Units (“Majority Holders”), agrees to register, on one occasion, all or any portion of the Preferred
Stock, Shares underlying the Preferred Stock, Warrants, and Shares underlying the Warrants (collectively, the “Registrable
Securities”). On such occasion, the Company will file a registration statement with the Commission covering the Registrable
Securities within sixty (60) days after receipt of a Demand Notice and use commercially reasonable efforts to have the registration
statement declared effective promptly thereafter, subject to compliance with review by the Commission; provided, however, that
the Company shall not be required to comply with a Demand Notice if the Company has filed a registration statement with respect
to which the Holder is entitled to piggyback registration rights pursuant to Section 8(a) hereof and either: (i) the Holder has
elected to participate in the offering covered by such registration statement or (ii) if such registration statement relates to
an underwritten primary offering of securities of the Company, until the offering covered by such registration statement has been
withdrawn or until thirty (30) days after such offering is consummated. The demand for registration may be made at any time during
a period of five (5) years beginning on the Effective Date. The Company covenants and agrees to give written notice of its receipt
of any Demand Notice by any Holder(s) to all other registered Holders of the Unit Purchase Option and/or the Registrable Securities
within ten (10) days after the date of the receipt of any such Demand Notice. Notwithstanding the foregoing, unless the offering
contemplated under the registration statement pursuant to this Section 8(a)(i) is an underwritten public offering, if there is
already an effective registration statement (including the Registration Statement) covering the issuance of the Registrable Securities,
the Company shall not be required to comply with the terms of this Section 8(a)(i).

 

(ii)
Terms. The Company shall bear all fees and expenses attendant to the registration of the Registrable Securities pursuant
to Section 8(a), but the Holders shall pay any and all underwriting commissions and the expenses of any legal counsel selected
by the Holders to represent them in connection with the sale of the Registrable Securities. The Company agrees to use commercially
reasonable efforts to cause the filing required herein to become effective promptly and to qualify or register the Registrable
Securities in such states as are reasonably requested by the Holder(s); provided, however, that (A) in no event shall the Company
be required to register the Registrable Securities in a state in which such registration would cause the Company to be obligated
to register or license to do business in such state or submit to general service of process in such state; or (B) if the Registrable
Securities are not “covered securities” within the meaning of the National Securities Markets Improvement Act of 1996,
the Company shall not be obligated to register or qualify the securities in any state which applies a merit review standard. The
Company shall cause any registration statement filed pursuant to the demand right granted under Section 8(a) to remain effective
for a period of at least twelve (12) consecutive months after the date that the Holders of the Registrable Securities covered
by such registration statement are first given the opportunity to sell all of such securities. The Holders shall only use the
prospectuses provided by the Company to sell the shares covered by such registration statement, and will immediately cease to
use any prospectus furnished by the Company if the Company advises the Holder that such prospectus may no longer be used due to
a material misstatement or omission. Notwithstanding the provisions of this Section 8(a), the Holder shall be entitled to a demand
registration under Section 8(a) on only one (1) occasion and such demand registration right shall terminate on the fifth anniversary
of the Effective Date in accordance with FINRA Rule 5110(f)(2)(G)(iv).

 

(b)
“Piggy-Back” Registration. The
registration rights contained in this Section 8(b) shall not apply to a registration statement on Form S-3 which the Company is
obligated to file for investors in private placements completed prior to the date of this Unit Purchase Option.

 

(i)
Grant of Right. In addition to the demand right of registration described in Section 8(a) hereof, the Holder shall have
the right to include the Registrable Securities as part of any other registration of securities filed by the Company (other than
in connection with a transaction contemplated by Rule 145(a) promulgated under the Securities Act or pursuant to Form S-8 or any
equivalent form); provided, however, that if, solely in connection with any primary underwritten public offering for the account
of the Company, the managing underwriter(s) thereof shall, in its reasonable discretion, impose a limitation on the number of
shares of common stock which may be included in the Registration Statement because, in such underwriter(s)’ judgment, marketing
or other factors dictate such limitation is necessary to facilitate public distribution, then the Company shall be obligated to
include in such Registration Statement only such limited portion of the Registrable Securities with respect to which the Holder
requested inclusion hereunder as the underwriter shall reasonably permit. Any exclusion of Registrable Securities shall be made
pro rata among the Holders seeking to include Registrable Securities in proportion to the number of Registrable Securities sought
to be included by such Holders; provided, however, that the Company shall not exclude any Registrable Securities unless the Company
has first excluded all outstanding securities, the holders of which are not entitled to inclusion of such securities in such Registration
Statement or are not entitled to pro rata inclusion with the Registrable Securities.

 

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(ii)
Terms. The Company shall bear all fees and expenses attendant to registering the Registrable Securities pursuant to Section
8(b) hereof, but the Holders shall pay any and all underwriting commissions and the expenses of any legal counsel selected by
the Holders to represent them in connection with the sale of the Registrable Securities. In the event of such a proposed registration,
the Company shall furnish the then Holders of outstanding Registrable Securities with not less than thirty (30) days written notice
prior to the proposed date of filing of such registration statement. Such notice to the Holders shall continue to be given for
each registration statement filed by the Company until such time as all of the Registrable Securities have been sold by the Holder.
The holders of the Registrable Securities shall exercise the “piggy-back” rights provided for herein by giving written
notice within ten (10) days of the receipt of the Company’s notice of its intention to file a registration statement. Except
as otherwise provided in this Unit Purchase Option, there shall be no limit on the number of times the Holder may request registration
under this Section 8(b); provided, however, that such “piggy-back” registration rights shall terminate on the seventh
anniversary of the Effective Date in accordance with FINRA Rule 5110(f)(2)(G)(v).

 

(c)
General Terms.

 

(i)
Indemnification. The Company shall indemnify the Holder(s) of the Registrable Securities to be sold pursuant to any registration
statement hereunder and each person, if any, who controls such Holders within the meaning of Section 15 of the Securities Act
or Section 20(a) of the Securities Exchange Act of 1934, as amended (“Exchange Act”), against all loss, claim,
damage, expense or liability (including all reasonable attorneys’ fees and other expenses reasonably incurred in investigating,
preparing or defending against any claim whatsoever) to which any of them may become subject under the Securities Act, the Exchange
Act or otherwise, arising from such registration statement but only to the same extent and with the same effect as the provisions
pursuant to which the Company has agreed to indemnify the Underwriters under the Underwriting Agreement between Dawson (as Representative
of the several Underwriters named on Schedule 1 attached thereto) and the Company, dated as of [●], 2015 (the “Underwriting
Agreement”). The Holder(s) of the Registrable Securities to be sold pursuant to such registration statement, and their
successors and assigns, shall severally, and not jointly, indemnify the Company, its directors, its officers who signed the registration
statement and persons who control the Company within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange
Act against all loss, claim, damage, expense or liability (including all reasonable attorneys’ fees and other expenses reasonably
incurred in investigating, preparing or defending against any claim whatsoever) to which they may become subject under the Securities
Act, the Exchange Act or otherwise, arising from information furnished by or on behalf of such Holders, or their successors or
assigns, in writing, for specific inclusion in such registration statement to the same extent and with the same effect as the
provisions contained in the Underwriting Agreement pursuant to which the Underwriters have agreed to indemnify the Company and
such persons.

 

(ii)
Exercise of Unit Purchase Option. Nothing contained in this Unit Purchase Option shall be construed as requiring the Holder(s)
to exercise their Unit Purchase Option prior to or after the initial filing of any registration statement or the effectiveness
thereof.

 

(iii)
Documents Delivered by Company. The Company shall furnish to each underwriter participating in any of the foregoing underwritten
offerings, if any, a signed counterpart, addressed to such underwriter, of: (i) an opinion of counsel to the Company, dated the
effective date of such registration statement (and, if such registration includes an underwritten public offering, an opinion
dated the date of the closing under any underwriting agreement related thereto), and (ii) a “cold comfort” letter
dated the effective date of such registration statement (and, if such registration includes an underwritten public offering, a
letter dated the date of the closing under the underwriting agreement) signed by the independent registered public accounting
firm which has issued a report on the Company’s financial statements included in such registration statement, in each case
covering substantially the same matters with respect to such registration statement (and the prospectus included therein) and,
in the case of such accountants’ letter, with respect to events subsequent to the date of such financial statements, as
are customarily covered in opinions of issuer’s counsel and in accountants’ letters delivered to underwriters in underwritten
public offerings of securities. The Company shall also deliver promptly to each Holder participating in the offering requesting
the correspondence and memoranda described below and to the managing underwriter, if any, copies of all correspondence between
the Commission and the Company, its counsel or auditors and all memoranda relating to discussions with the Commission or its staff
with respect to the registration statement and permit each Holder and underwriter to do such investigation, upon reasonable advance
notice, with respect to information contained in or omitted from the registration statement as it deems reasonably necessary to
comply with applicable securities laws or rules of FINRA. Such investigation shall include access to books, records and properties
and opportunities to discuss the business of the Company with its officers and independent auditors, all to such reasonable extent
and at such reasonable times as any such Holder shall reasonably request.

 

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(iv)
Underwriting Agreement. The Company shall enter into an underwriting agreement with the managing underwriter(s), if any,
selected by any Holders whose Registrable Securities are being registered pursuant to this Section 8, which managing underwriter(s)
shall be reasonably satisfactory to the Company. Such agreement shall be reasonably satisfactory in form and substance to the
Company, Dawson and such managing underwriter(s), and shall contain such representations, warranties and covenants by the Company
and such other terms as are customarily contained in agreements of that type used by the managing underwriter(s). The Holders
shall be parties to any underwriting agreement relating to an underwritten sale of their Registrable Securities and may, at their
option, require that any or all the representations, warranties and covenants of the Company to or for the benefit of such underwriters
shall also be made to and for the benefit of such Holders. Such Holders shall not be required to make any representations or warranties
to or agreements with the Company or the underwriters except as they may relate to such Holders, their Shares and their intended
methods of distribution.

 

(v)
Documents to be Delivered by Holder(s). Each of the Holder(s) participating in any of the foregoing offerings shall furnish
to the Company a completed and executed questionnaire provided by the Company requesting information customarily sought of selling
security holders.

 

(vi)
Damages. Should the registration or the effectiveness thereof required by Sections 8(a) and 8(b) hereof be delayed by the
Company or the Company otherwise fails to comply with such provisions, the Holder(s) shall, in addition to any other legal or
other relief available to the Holder(s), be entitled to obtain specific performance or other equitable (including injunctive)
relief against the threatened breach of such provisions or the continuation of any such breach, without the necessity of proving
actual damages and without the necessity of posting bond or other security.

 

9.
Miscellaneous.

 

(a)
Amendments. The Company and Dawson may from time to time
supplement or amend this Unit Purchase Option without the approval of any of the Holders in order to cure any ambiguity, to correct
or supplement any provision contained herein that may be defective or inconsistent with any other provisions herein, or to make
any other provisions in regard to matters or questions arising hereunder that the Company and Dawson may deem necessary or desirable
and that the Company and Dawson deem shall not adversely affect the interest of the Holders. All other modifications or amendments
shall require the written consent of and be signed by the party against whom enforcement of the modification or amendment is sought.

 

(b)
Headings. The headings contained herein are for the sole
purpose of convenience of reference, and shall not in any way limit or affect the meaning or interpretation of any of the terms
or provisions of this Unit Purchase Option.

 

(c)
Entire Agreement. This Unit Purchase Option (together with
the other agreements and documents being delivered pursuant to or in connection with this Unit Purchase Option) constitutes the
entire agreement of the parties hereto with respect to the subject matter hereof, and supersedes all prior agreements and understandings
of the parties, oral and written, with respect to the subject matter hereof.

 

(d)
Binding Effect. This Unit Purchase Option shall inure solely
to the benefit of, and shall be binding upon, the Holder and the Company and their permitted assignees, respective successors,
legal representative and assigns, and no other person shall have or be construed to have any legal or equitable right, remedy
or claim under or in respect of or by virtue of this Unit Purchase Option or any provisions herein contained.

 

    	8

    	 

    

 

(e)
Governing Law. This Unit Purchase Option shall be governed
by and construed and enforced in accordance with the laws of the State of New York, without giving effect to conflict of laws.
The Company hereby agrees that any action, proceeding or claim against it arising out of, or relating in any way to this Unit
Purchase Option shall be brought and enforced in the courts of the State of New York or of the United States of America for the
Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. The Company
hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. Any process or
summons to be served upon the Company may be served by transmitting a copy thereof by registered or certified mail, return receipt
requested, postage prepaid, addressed to it at the address set forth in Section 7 hereof. Such mailing shall be deemed personal
service and shall be legal and binding upon the Company in any action, proceeding or claim. The Company and the Holder agree that
the prevailing party(ies) in any such action shall be entitled to recover from the other party(ies) all of its reasonable attorneys’
fees and expenses relating to such action or proceeding and/or incurred in connection with the preparation therefor.

 

(f)
Waivers. The failure of the Company or the Holder to at any
time enforce any of the provisions of this Unit Purchase Option shall not be deemed or construed to be a waiver of any such provision,
nor to in any way affect the validity of this Unit Purchase Option or any provision hereof or the right of the Company or any
Holder to thereafter enforce each and every provision of this Unit Purchase Option. No waiver of any breach, non-compliance or
non-fulfillment of any of the provisions of this Unit Purchase Option shall be effective unless set forth in a written instrument
executed by the party or parties against whom or which enforcement of such waiver is sought; and no waiver of any such breach,
non-compliance or non-fulfillment shall be construed or deemed to be a waiver of any other or subsequent breach, non-compliance
or non-fulfillment.

 

(g)
Counterparts. This Unit Purchase Option may be executed in
one or more counterparts, and by the different parties hereto in separate counterparts, each of which shall be deemed to be an
original, but all of which taken together shall constitute one and the same agreement, and shall become effective when one or
more counterparts has been signed by each of the parties hereto and delivered to each of the other parties hereto.

 

(h)
Exchange Agreement. As
a condition of the Holder’s receipt and acceptance of this Unit Purchase Option, Holder agrees that, at any time prior to
the complete exercise of this Unit Purchase Option by Holder, if the Company and Dawson enter into an agreement (the “Exchange
Agreement”) pursuant to which they agree that all outstanding Unit Purchase Options will be exchanged for securities
or cash or a combination of both, then Holder shall agree to such exchange and become a party to the Exchange Agreement.

 

[Balance
of page intentionally left blank]

 

    	9

    	 

    

 

IN
WITNESS WHEREOF, the Company has caused this Unit Purchase Option to be signed by its duly authorized officer as of the [●] day
of [●], 2015.

 

	 	Vapor Corp.
	 	 
	 	By:	
	 	Name:	Jeffrey Holman
	 	Title:	Chief Executive Officer

 

    	 

    	 

    

 

Form
To Be Used To Exercise Unit Purchase Option

 

Vapor Corp.

3001 Griffin
Road

Dania Beach,
Florida 33312

Attn: Chief Financial Officer

 

Date: ______,
2015

 

The
undersigned hereby elects irrevocably to exercise all or a portion of the within Unit Purchase Option and to purchase             Units of
Vapor Corp., and hereby makes payment of $               (at the rate of $               per Unit) in payment of the Exercise Price pursuant thereto. Please
issue the Shares and Warrants as to which this Unit Purchase Option is exercised in accordance with the instructions given below.

 

Or

 

The
undersigned hereby elects irrevocably to convert its right to purchase                Units purchasable under the within Unit Purchase Option
by surrender of the unexercised portion of the attached Unit Purchase Option (with a “Value” based of $            based on a
“Market Price” of $          ). Please issue the securities comprising the Units as to which this Unit Purchase Option is exercised
in accordance with the instructions given below.

 

	 	 
	 	Signature
	 	 
	 	 

 

INSTRUCTIONS
FOR REGISTRATION OF SECURITIES

 

	Name:	 	 
	(Print in Block Letters)	 
	Address:	 	 

 

NOTICE:
THE SIGNATURE TO THIS FORM MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE WITHIN UNIT PURCHASE OPTION IN EVERY
PARTICULAR WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATSOEVER, AND MUST BE GUARANTEED BY A BANK, OTHER THAN A SAVINGS
BANK, OR BY A TRUST COMPANY OR BY A FIRM HAVING MEMBERSHIP ON A REGISTERED NATIONAL SECURITIES EXCHANGE.

 

    	 

    	 

    

 

Form
To Be Used To Assign Unit Purchase Option

 

ASSIGNMENT

 

(To
be executed by the registered Holder to effect a transfer of the within Unit Purchase Option)

 

FOR
VALUE RECEIVED,              does hereby sell, assign and transfer unto           the right to          purchase           Units of Vapor Corp., (the “Company”)
evidenced by the within Unit Purchase Option and does hereby authorize the Company to transfer such right on the books of the
Company.

 

Dated: _________,
2015

 

	 	 
	 	Signature
	 	 
	 	 

 

NOTICE:
THE SIGNATURE TO THIS FORM MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE WITHIN UNIT PURCHASE OPTION IN EVERY
PARTICULAR WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATSOEVER, AND MUST BE GUARANTEED BY A BANK, OTHER THAN A SAVINGS
BANK, OR BY A TRUST COMPANY OR BY A FIRM HAVING MEMBERSHIP ON A REGISTERED NATIONAL SECURITIES EXCHANGE.Exhibit 4.2

 

GENERAL AGRICULTURE
CORPORATION

COMMON STOCK WARRANT

 

THE SECURITIES REPRESENTED
BY THIS CERTIFICATE MAY NOT BE OFFERED FOR SALE, SOLD OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT
FILED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT.

 

This certifies that,
for good and valuable consideration, receipt of which is hereby acknowledged, Spartan Securities Group, Ltd. (“Holder”)
is entitled to purchase, subject to the terms and conditions of this Warrant, from General Agriculture Corporation, a Delaware
corporation (the “Company”), General Agriculture Corporation fully paid and nonassessable shares of the Company's
common stock, $0.0001 par value per share (“Common Stock”) of the Company, in accordance with Section 2 hereof
during the period commencing on ______ _______, 201__ [6 months from date of issuance] (the “Commencement Date”)
and ending at 5:00 p.m. New York time, _______________, 2018 [three (3) years from date of issuance] (the “Expiration
Date”), at which time this Warrant will expire and become void unless earlier terminated as provided herein. The shares
of Common Stock of the Company for which this Warrant is exercisable, as adjusted from time to time pursuant to the terms hereof,
are hereinafter referred to as the “Shares.”

 

1.            Exercise
Price. The initial purchase price for the Shares shall be $ ______ per share. Such price shall be subject to adjustment
pursuant to the terms hereof (such price, as adjusted from time to time, is hereinafter referred to as the “Exercise Price”).

 

2.            Exercise
and Payment.

 

(a)          Cash
Exercise. At any time after the Commencement Date, this Warrant may be exercised, in whole or in part, from time to time
by the Holder, during the term hereof, by surrender of this Warrant and the Notice of Exercise annexed hereto duly completed and
executed by the Holder to the Company at the principal executive offices of the Company, together with payment in the amount obtained
by multiplying the Exercise Price then in effect by the number of Shares thereby purchased, as designated in the Notice of Exercise.
Payment may be in cash or by check payable to the order of the Company.

 

(b)          Net
Issuance. In lieu of payment of the Exercise Price described in Section 2(a), the Holder may elect to receive, without
the payment by the Holder of any additional consideration, shares equal to the value of this Warrant or any portion hereof by the
surrender of this Warrant or such portion to the Company, with the Notice of Exercise duly executed and electing the cashless exercise
option, at the principal executive offices of the Company. Thereupon, the Company shall issue to the Holder such number of fully
paid and nonassessable Shares as is computed using the following formula:

 

	where:	X = Y 	(A-B)	 
	 	 	A	 

 

X =         the
number of Shares to be issued to the Holder pursuant to this Section 2.

 

    	 

    	 

    

 

Y =        the
number of Shares covered by this Warrant in respect of which the net issuance election is made pursuant to this Section 2.

 

A =       the
fair market value of one share of Common Stock, as determined in accordance with the provisions of this Section 2.

 

B =        the
Exercise Price in effect under this Warrant at the time the net issuance election is made pursuant to this Section 2.

 

For purposes of this
Section 2, the “fair market value” per share of the Common Stock shall mean:

 

(i)           If
the Common Stock is traded on a national securities exchange or admitted to unlisted trading privileges on such an exchange, or
is listed on the National or SmallCap Market of the National Association of Securities Dealers Automated Quotations System (the
“Nasdaq Global Select Market”, “Nasdaq Global Market” and “Nasdaq Capital Market,” respectively)
or other over-the-counter quotation system, the fair market value shall be the last reported sale price of the Common Stock on
such exchange, the Nasdaq Global Select Market, Nasdaq Global Market, the Nasdaq Capital Market or other over-the-counter quotation
system on the last business day before the effective date of exercise of the Net Issuance Election or if no such sale is made on
such day, the mean of the closing bid and asked prices such day on such exchange, the Nasdaq Global Select Market, the Nasdaq Global
Market, the Nasdaq Capital Market or other over-the-counter quotation system; and

 

(ii)          If
the Common Stock is not so listed or admitted to unlisted trading privileges and bid and ask prices are not reported, the fair
market value shall be the price per share which the Company could obtain from a willing buyer for shares sold by the Company for
authorized but unissued shares, as such price shall be determined by mutual agreement of the Company and the Holder of this Warrant.

 

3.            Reservation
of Shares. The Company hereby agrees that at all times during the term of this Warrant there shall be reserved for issuance
and delivery upon exercise of this Warrant such number of shares of Common Stock or other shares of capital stock of the Company
from time to time issuable upon exercise of this Warrant. All such shares shall be duly authorized, and when issued upon such exercise,
shall be validly issued, fully paid and non-assessable, free and clear of all liens, security interests, charges and other encumbrances
or restrictions on sale and free and clear of all preemptive rights.

 

4.            Delivery
of Shares.

 

(a)          Shares
purchased 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 through its Deposit or Withdrawal at Custodian system (“DWAC”) if the Company
is then a participant in such system and either (A) there is an effective registration statement permitting the issuance of the
Shares to or resale of the Shares by the Holder or (B) the shares are eligible for resale by the Holder without volume or manner-of-sale
limitations or the need for current public information pursuant to Rule 144, and otherwise by physical delivery to the address
specified by the Holder in the Notice of Exercise by the date that is five (5) Trading Day after the delivery to the Company of
the Notice of Exercise (provided, in the case of an exercise for cash pursuant to Section 2(a) hereof, the Company has received
the cash exercise price) (such date, the “Share Delivery Date”). The Shares shall be deemed to have been issued,
and Holder or any other person so designated to be named therein shall be deemed to have become a holder of record of such shares
for all purposes, as of the date the Warrant has been exercised, with payment to the Company of the Exercise Price (or by cashless
exercise, if permitted).

 

    	2

    	 

    

 

(b)          If
this Warrant shall have been exercised in part, the Company shall, at the request of a Holder and upon surrender of this Warrant
certificate, at the time of delivery of the Shares, deliver to the Holder a new Warrant evidencing the rights of the Holder to
purchase the unpurchased Shares called for by this Warrant, which new Warrant shall in all other respects be identical with this
Warrant.

 

5.             No
Fractional Shares. No fractional shares or scrip representing fractional shares will be issued upon exercise of this Warrant.
If upon any exercise of this Warrant a fraction of a share results, the Company will pay the Holder the difference between the
cash value of the fractional share and the portion of the Exercise Price allocable to the fractional share.

 

6.             Listing.
Prior to the issuance of any shares of Common Stock upon exercise of this Warrant, the Company shall secure the listing of such
shares of Common Stock upon each national securities exchange or automated quotation system, if any, upon which shares of Common
Stock are then listed (subject to official notice of issuance upon exercise of this Warrant) and shall maintain, so long as any
other shares of Common Stock shall be so listed, such listing of all shares of Common Stock from time to time issuable upon the
exercise of this Warrant; and the Company shall so list on each national securities exchange or automated quotation system, and
shall maintain such listing of, any other shares of capital stock of the Company issuable upon the exercise of this Warrant if
and so long as any shares of the same class shall be listed on such national securities exchange or automated quotation system.

 

7.             Charges,
Taxes and Expenses. The Company shall pay all transfer taxes or other incidental charges, if any, in connection with the
transfer of the Shares purchased pursuant to the exercise hereof from the Company to the Holder.

 

8.             Loss,
Theft, Destruction or Mutilation of Warrant. Upon receipt by the Company of evidence reasonably satisfactory to it of the
loss, theft, destruction or mutilation of this Warrant, and in case of loss, theft or destruction, of indemnity or security reasonably
satisfactory to the Company, and upon reimbursement to the Company of all reasonable expenses incidental thereto, and upon surrender
and cancellation of this Warrant, if mutilated, the Company will make and deliver a new Warrant of like tenor and dated as of such
cancellation, in lieu of this Warrant.

 

9.             Saturdays,
Sundays, Holidays, Etc. If the last or appointed day for the taking of any action or the expiration of any right required
or granted herein shall be a Saturday or a Sunday or shall be a legal holiday, then such action may be taken or such right may
be exercised on the next succeeding weekday that is not a legal holiday.

 

    	3

    	 

    

 

10.          Adjustment
of Exercise Price and Number of Shares. The Exercise Price and the number of and kind of securities purchasable upon exercise
of this Warrant shall be subject to adjustment from time to time as follows:

 

(a)          Subdivisions,
Combinations and Other Issuances. If the Company shall at any time after the date hereof but prior to the expiration of
this Warrant subdivide its outstanding securities as to which purchase rights under this Warrant exist, by split-up or otherwise,
or combine its outstanding securities as to which purchase rights under this Warrant exist, the number of Shares as to which this
Warrant is exercisable as of the date of such subdivision, split-up or combination will be proportionately increased in the case
of a subdivision, or proportionately decreased in the case of a combination. Appropriate adjustments also will be made to the Exercise
Price, but the aggregate purchase price payable for the total number of Shares purchasable under this Warrant as of such date shall
remain the same.

 

(b)          Stock
Dividend. If at any time after the date hereof the Company declares a dividend or other distribution on Common Stock payable
in Common Stock or Convertible Securities without payment of any consideration by such holder for the additional shares of Common
Stock or the Convertible Securities (including the additional shares of Common Stock issuable pursuant to the terms thereof), then
the number of Shares of Common Stock for which this Warrant may be exercised shall be increased as of the record date (or the date
of such dividend distribution if no record date is set) for determining which holders of Common Stock shall be entitled to receive
such dividend, in proportion to the increase in the number of outstanding shares (and shares of Common Stock issuable pursuant
to the terms of the Convertible Securities) of Common Stock as a result of such dividend, and the Exercise Price shall be adjusted
so that the aggregate amount payable for the purchase of all the Shares issuable hereunder immediately after the record date (or
on the date of such distribution, if applicable) for such dividend will equal the aggregate amount so payable immediately before
such record date (or on the date of such distribution, if applicable). As used herein, “Convertible Securities” means
evidences of indebtedness, shares of stock or other securities which are convertible into or exchangeable for, with or without
payment of additional consideration, shares of Common Stock, either immediately or upon the arrival of a specified date or the
happening of a specified event or both.

 

(c)          Other
Distributions. If at any time after the date hereof the Company distributes to holders of its Common Stock, other than
as part of its dissolution or liquidation or the winding up of its affairs, any shares of its capital stock, any evidence of indebtedness
or any of its assets (other than cash, Common Stock or Convertible Securities), then the Company may, at its option, either (i) decrease
the Exercise Price of this Warrant by an appropriate amount based upon the value distributed on each share of Common Stock as determined
in good faith by the Company's board of directors or (ii) provide by resolution of the Company's board of directors that on
exercise of this Warrant, the Holder hereof shall thereafter be entitled to receive, in addition to the Shares of Common Stock
otherwise receivable on exercise hereof, the number of shares or other securities or property which would have been received had
this Warrant at the time been exercised.

 

    	4

    	 

    

 

(d)          Merger.
If at any time after the date hereof there shall be a merger or consolidation of the Company with or into another corporation when
the Company is not the surviving corporation, then the Holder shall thereafter be entitled to receive upon exercise of this Warrant,
during the period specified herein and upon payment of the aggregate Exercise Price then in effect, the number of shares or other
securities or property of the successor corporation resulting from such merger or consolidation, which would have been received
by Holder for the Shares subject to this Warrant had this Warrant been exercised at such time.

 

(e)          Reclassification,
Etc. If at any time after the date hereof there shall be a change or reclassification of the securities as to which purchase
rights under this Warrant exist into the same or a different number of securities of any other class or classes, then the Holder
shall thereafter be entitled to receive upon exercise of this Warrant, during the period specified herein and upon payment of the
Exercise Price then in effect, the number of shares or other securities or property resulting from such change or reclassification,
which would have been received by Holder for the Shares subject to this Warrant had this Warrant been exercised at such time.

 

(f)          Certain
Issuances of Securities. Except as expressly provided in subsections (b) and (c) of this Section 10, if the Company issues
any Additional Stock for no consideration or for a consideration per share less than the Exercise Price in effect immediately prior
to the time of such issuance, then the Exercise Price shall be reduced to the price determined by dividing:

 

(i)           an
amount equal to the sum of (x) the number of shares of Common Stock outstanding immediately prior to such issuance or sale multiplied
by the then existing Exercise Price, and (y) an amount equal to the aggregate “consideration actually received” by
the Company upon such issuance or sale, by

 

(ii)          the
sum of the number of shares of Common Stock outstanding immediately after such issuance or sale.

 

Upon any adjustment of
the Exercise Price under this subsection (f) of this Section 10, the number of shares of Common Stock issuable upon exercise of
this Warrant shall equal the number of shares determined by dividing (x) the aggregate Exercise Price payable for the purchase
of all shares issuable upon exercise of this Warrant immediately prior to such adjustment by (y) the Exercise Price per share in
effect immediately after such adjustment.

 

For purposes of adjusting
the Exercise Price pursuant to this Section 10(f):

 

(A)         The
term “Additional Stock” shall mean any Common Stock, Convertible Securities or Options issued by the Company
after the Commencement Date, other than (1) Common Stock issuable upon the conversion of Convertible Securities issued by the Company
before the Commencement Date, (2) Options issued by the Company to any of its officers, directors, employees, consultants or agents
after the Commencement Date pursuant to any compensation or benefit plan approved by the Company's board of directors or, if not
pursuant to such a plan, then pursuant to any other resolution of the Company's board of directors, in each case at the fair market
value thereof, as determined in accordance with Section 2, on the date the Option grant, (3) Common Stock issuable upon the
exercise of Options issued by the Company to any of its officers, directors, employees, consultants or agents before, on or after
the Commencement Date pursuant to any compensation or benefit plan approved by the Company's board of directors or, if not pursuant
to such a plan, then pursuant to any other resolution of the Company's board of directors, in each case, at the fair market value
thereof, as determined in accordance with Section 2, on the date of the Option grant, and (4) Common Stock issued in connection
with the purchase of assets or businesses, whether by merger, consolidation, purchase of assets or stock or otherwise. As used
herein, the term “Option” means any right, warrant, or option to subscribe for or purchase shares of Common
Stock or Convertible Securities.

 

    	5

    	 

    

 

(B)         In
the case of an issuance or sale for cash of shares of Common Stock, the “consideration actually received” by the Company
therefor shall be deemed to be the amount of cash received, before deducting therefrom any commissions or expenses paid by the
Company.

 

(C)         In
the case of the issuance (other than upon conversion or exchange of obligations or shares of stock of the Company) of shares of
Common Stock for a consideration other than cash or a consideration partly other than cash, the amount of the non-cash “consideration
actually received” by the Company shall be deemed to be the fair market value of such consideration as determined in good
faith by the Company's board of directors.

 

(D)         In
the case of the issuance by the Company in any manner of Options, all shares of Common Stock or Convertible Securities to which
the holders of such Options shall be entitled to subscribe for or purchase pursuant to such Options shall be deemed issued as of
the date of the grant or sale of such Options, and the minimum aggregate consideration named in such Options for the shares of
Common Stock or Convertible Securities covered thereby, plus the consideration, if any, received by the Company for such Options,
shall be deemed to be the “consideration actually received” by the Company (as of the date of the granting or sale
of such Options) for the issuance of such Options.

 

(E)         In
the case of the issuance by the Company in any matter of Convertible Securities, all shares of Common Stock issuable upon the conversion
or exchange of such Convertible Securities shall be deemed issued as of the date such Convertible Securities are issued, and the
amount of the “consideration actually received” by the Company for such Convertible Securities shall be deemed to be
the total of (1) the amount of consideration received by the Company upon the issuance of such Convertible Securities, plus (2)
the minimum aggregate consideration, if any, other than such Convertible Securities, receivable by the Company upon conversion
or exchange of such Convertible Securities, except in adjustment of dividends.

 

(F)         The
amount of “consideration actually received” by the Company upon the issuance of any Options referred to in subparagraph
(D) above or upon the issuance of Convertible Securities as described in subparagraph (E) above, and the amount of the consideration,
if any, other than Convertible Securities, receivable by the Company upon exercise, conversion, or exchange thereof shall be determined
in the same manner provided in subparagraphs (B) and (C) above with respect to the consideration received by the Company in the
case of the issuance of additional shares of Common Stock; provided, however, that if such Convertible Securities are issued in
payment or satisfaction of any dividend upon any stock of the Company other than Common Stock, the amount of the “consideration
actually received” by the Company upon the original issuance of such Convertible Securities shall be deemed to be the value
of such obligations or shares of stock, as of the date of the adoption of the resolution declaring such dividend, as reasonably
determined in good faith by the Company's board of directors at or as of that date.

 

    	6

    	 

    

 

(G)         On
the expiration of any Options referred to in subparagraph (D) above, or the termination of any right of conversion with respect
to Convertible Securities referred to in subparagraph (E) above, or any change in the number of shares of Common Stock deliverable
upon the exercise of such Options or upon conversion or exchange of such Convertible Securities, the Exercise Price then in effect
shall be adjusted to such Exercise Price as would have been obtained had the adjustments made upon the issuance of such Options
or Convertible Securities been made upon the basis of the delivery of the adjusted number of shares of Common Stock actually delivered
or to be delivered upon the exercise of such Options or upon the conversion or exchange of such Convertible Securities.

 

11.          Notice
of Adjustments; Notices. Whenever the Exercise Price or number of Shares purchasable hereunder is adjusted pursuant to
Section 10 hereof, the Company must execute and deliver to the Holder a certificate setting forth, in reasonable detail, the event
requiring the adjustment, the amount of the adjustment, the method by which such adjustment was calculated and the Exercise Price
and number of and kind of securities purchasable hereunder after giving effect to such adjustment, and must cause a copy of such
certificate to be mailed (by first class mail, postage prepaid) to the Holder.

 

12.          Rights
As Stockholder; Notice to Holders. Nothing contained in this Warrant will be construed as conferring upon the Holder or
his or its permitted transferees the right to vote or to receive dividends or to consent or to receive notice as a shareholder
in respect of any meeting of shareholders for the election of directors of the Company or of any other matter, or any rights whatsoever
as shareholders of the Company. The Company will notify the Warrant Holder by registered mail if at any time prior to the expiration
or exercise in full of the Warrant, any of the following events occur:

 

(a)          a
dissolution, liquidation or winding up of the Company shall be proposed;

 

(b)          a
capital reorganization or reclassification of the Common Stock (other than a subdivision or combination of the outstanding Common
Stock and other than a change in the par value of the Common Stock) or any consolidation or merger of the Company with or into
another corporation (other than a consolidation or merger in which the Company is the continuing corporation and that does not
result in any reclassification or change of Common Stock outstanding) or in the case of any sale or conveyance to another corporation
of the property of the Company as an entirety or substantially as an entirety; or

 

(c)          a
taking by the Company of a record of the holders of any class of securities for the purpose of determining the holders thereof
who are entitled to receive any dividend (other than a cash dividend) or other distribution, any right to subscribe for, purchase
or otherwise acquire any shares of stock of any class or any other securities or property, or to receive any other rights.

 

    	7

    	 

    

 

(d)          an
issuance by the Company of any Additional Stock, as defined in subsection (f) of Section 10.

 

Such giving of notice
will be simultaneous with the giving of notice to holders of Common Stock. Such notice must specify the record date or the date
of closing the stock transfer books, as the case may be. Failure to provide such notice will not affect the validity of any action
taken in connection with such dividend, distribution or subscription rights, or proposed merger, consolidation, sale, conveyance,
dissolution, liquidation or winding up.

 

13.          Restricted
Securities. The Holder understands that if a Registration Statement is not in effect to register this Warrant or the Common
Stock issuable upon exercise of this Warrant, this Warrant and, subject to the last sentence of this Section 13, the Shares purchasable
hereunder will constitute “restricted securities” under the federal securities laws inasmuch as they are, or will be,
acquired from the Company in transactions not involving a public offering and accordingly may not, under such laws and applicable
regulations, be resold or transferred without registration under the Securities Act of 1933, as amended (the “1933 Act”)
or an applicable exemption from such registration. If a Registration Statement is not in effect, unless the Shares are subsequently
registered pursuant to Section 16 of this Warrant, the Holder further acknowledges that the securities legend on Exhibit A to the
Notice of Exercise attached hereto shall be placed on any Shares issued to the Holder upon exercise of this Warrant. Notwithstanding
the foregoing, if a Holder exercises a net issuance under Section 2(b), the Shares will be deemed to be purchased under Section
3(a)(9) of the 1933 Act and will not be “restricted securities” or subject to legend if the Warrant has been held for
a period of one year or more..

 

14.          Certification
of Investment Purpose. Unless a current registration statement under the 1933 Act shall be in effect with respect to the
securities to be issued upon exercise of this Warrant, the Holder covenants and agrees that, at the time of exercise hereof, it
will deliver to the Company a written certification executed by the Holder that the securities acquired by him upon exercise hereof
are for the account of such Holder and acquired for investment purposes only and that such securities are not acquired with a view
to, or for sale in connection with, any distribution thereof.

 

15.          Disposition
of Shares; Transferability.

 

(a)          Holder
hereby agrees not to make any disposition of any Warrants purchased hereunder unless and until:

 

(i)          Holder
shall have notified the Company of the proposed disposition and provided a written summary of the terms and conditions of the proposed
disposition; and

 

(ii)         Holder
shall have complied with all requirements of this Warrant applicable to the disposition of the Warrant.

 

The Company shall not
be required (i) to transfer on its books any Warrants which have been sold or transferred in violation of the provisions of
this Section 15 or (ii) to treat as the owner of the Warrants, or otherwise to accord voting or dividend rights to, any transferee
to whom the Shares have been transferred in contravention of the terms of this Warrant.

 

    	8

    	 

    

 

(b)          Transfer.
This Warrant shall be transferable only on the books of the Company maintained at its principal office in Room 801, Plaza B, Yonghe
Building, No. 28 AnDingMen East Street, Dongcheng District, Beijing, China 100007, or wherever its principal office may then be
located, upon delivery thereof duly endorsed by the Holder or by its duly authorized attorney or representative, accompanied by
proper evidence of succession, assignment or authority to transfer. Upon any registration of transfer, the Company shall execute
and deliver new Warrants to the person entitled thereto.

 

(c)          Limitations
on Transfer. This Warrant and the Common Stock issuable upon exercise hereof sold, transferred, assigned, pledged, or hypothecated,
or be the subject of any hedging, short sale, derivative, put, or call transaction that would result in the effective economic
disposition of such securities (any such action, a “Transfer”) by any person for a period of 180 days immediately
following the date of effectiveness or commencement of sales of the public offering of the Common Stock, except in accordance with
Financial Industry Regulatory Authority (“FINRA”) Rule 5110(g)(2). This Warrant may be divided or combined,
upon request to the Company by the Holder, into a certificate or certificates representing the right to purchase the same aggregate
number of Shares. If at the time of a Transfer, a Registration Statement is not in effect to register this Warrant, the Company
may require the Holder to make such representations, and may place such legends on certificates representing this Warrant, as may
be reasonably required in the opinion of counsel to the Company to permit a Transfer without such registration.

 

16.           Registration
Rights.

 

(a)          Piggyback
Registration. If at any time prior to the Expiration Date a Registration Statement is not in effect to register this Warrant
and the Common Stock issuable upon exercise of this Warrant, the Company determines to register for its own account or the account
of others under the 1933 Act any of its equity securities, other than on Form S-4 or Form S-8 or their then equivalents relating
to equity securities to be issued solely in connection with any acquisition of any entity or business, or equity securities issuable
in connection with stock option or other employee benefit plans, the Company shall send to each Holder of Warrants or Shares written
notice of such determination and, if within twenty (20) days after receipt of such notice, such Holder shall so request in writing
(hereafter a “Selling Holder”), the Company shall use commercially reasonable efforts to include in such Registration
Statement all or any part of the Shares issuable or issued upon exercise of the Warrants (the “Registrable Securities”)
such Selling Holder requests to be registered. The obligations of the Company under this Section 16(a) may be waived by Holders
holding a majority in interest of the Registrable Securities. If in connection with any primary underwritten public offering
for the account of the Company, the managing underwriter thereof shall, in its reasonable discretion, impose a limitation on the
number of shares of Common Stock underlying the Warrants which may be included in the registration statement because, in such underwriter’s
judgment, marketing or other factors dictate such limitation is necessary to facilitate public distribution, then the Company shall
be obligated to include in such registration statement only such limited portion of the Registrable Securities with respect to
which the Selling Holder requested inclusion hereunder as the underwriter shall reasonably permit. Any exclusion of Registrable
Securities shall be made pro rata among the Holders seeking to include Registrable Securities in proportion to the number of Registrable
Securities sought to be included by such Holders; provided, however, that the Company shall not exclude any Registrable Securities
unless the Company has first excluded all outstanding securities, the holders of which are not entitled to inclusion of such securities
in such registration statement or are not entitled to pro rata inclusion with the Registrable Securities.

 

    	9

    	 

    

 

Notwithstanding the
provisions of this Section 16, the Company shall have the right at any time after it shall have given written notice pursuant to
this Section 16 (irrespective of whether any written request for inclusion of Registrable Securities shall have already been made)
to elect not to file any such proposed Registration Statement, or to withdraw the same after the filing but prior to the effective
date thereof, without incurring any liability to any Holder of Registrable Securities

 

(b)          Obligations
of the Holders. In connection with the registration of the Registrable Securities pursuant to either
Sections 16(a) or (b), the Selling Holders shall have the following obligations:

 

(i)          It
shall be a condition precedent to the obligations of the Company to take any action pursuant to this Agreement with respect to
each Selling Holder that such Selling Holder shall furnish to the Company such information regarding itself, the Registrable Securities
held by it and the intended method of disposition of the Registrable Securities held by it as shall be reasonably required to effect
the registration of the Registrable Securities and shall execute such documents in connection with such registration as the Company
may reasonably request. At least fifteen (15) days prior to the first anticipated filing date of the Registration Statement, the
Company shall notify each Selling Holder of the information the Company requires from each such Selling Holder (the “Requested
Information”') in the case of a Registration Statement being prepared pursuant to Section 16(b) or if such Selling Holder
elects to have any of such Selling Holder's Registrable Securities included in the Registration Statement in the case of a Registration
Statement being prepared pursuant to Section 16(a).

 

(ii)         Each
Selling Holder by such Selling Holder's acceptance of the Registrable Securities agrees to cooperate with the Company as reasonably
requested by the Company in connection with the preparation and filing of the Registration Statement hereunder, unless such Selling
Holder has notified the Company in writing of such Selling Holder's election to exclude all of such Selling Holder's Registrable
Securities from the Registration Statement; and

 

(iii)        No
Selling Holder may participate in any underwritten registration hereunder unless such Selling Holder (i) agrees to sell such
Selling Holder's Registrable Securities on the basis provided in any underwriting arrangements approved by the Selling Holders
entitled hereunder to approve such arrangements, (ii) completes and executes all questionnaires, powers of attorney, indemnities,
underwriting agreements and other documents reasonably required under the terms of such underwriting arrangements, and (iii) agrees
to pay its pro rata share of all underwriting discounts and commissions and other fees and expenses of investment bankers and any
manager or managers of such underwriting, except as provided in Section 16(d) below.

 

    	10

    	 

    

 

(c)          Obligations
of the Company. If and whenever the Company is required to use its best efforts to take action pursuant to any Federal
or state law or regulation to permit the sale or other disposition of any Shares purchasable upon exercise of this Warrant that
are then held or that may be acquired upon exercise of the Warrants in order to effect or cause the registration of any Registrable
Securities under the 1933 Act as provided in this Section 16, the Company shall, as expeditiously as practicable:

 

(i)          Prepare
and file with the SEC, as soon as practicable within ninety (90) days after the end of the period within which requests for registration
may be given to the company a Registration Statement or Registration Statements relating to the registration on any appropriate
form under the 1933 Act, which form shall be available for the sale of the Registrable Securities in accordance with the intended
method or methods of distribution thereof, and use its best efforts to cause such Registration Statements to become effective;
provided that before filing a Registration Statement or Prospectus or any amendment or supplements thereto, including documents
incorporated by reference after the initial filing of any Registration Statement, the Company will furnish to the Holders of the
Registrable Securities covered by such Registration Statement and the underwriters, if any, copies of all such documents provided
to be filed, which documents will be subject to the review of such Holders and underwriters;

 

(ii)         prepare
and file with the SEC such amendments and post-effective amendments to a Registration Statement as may be necessary to keep such
Registration Statement effective for a reasonable period or as otherwise provided herein; cause the related Prospectus to be supplemented
by any required Prospectus supplement, and as so supplemented to be filed pursuant to Rule 424 under the 1933 Act; and comply with
the provisions of the 1933 Act with respect to the disposition of all securities covered by such Registration Statement during
such period in accordance with the intended methods of disposition by the sellers thereof set forth in such Registration Statement
or supplement to such Prospectus;

 

(iii)        notify
the selling Holders of Registrable Securities and the managing underwriters, if any, promptly, and (if requested by any such Person)
confirm such advice in writing, (A) when a Prospectus or any Prospectus supplement or post-effective amendment has been filed,
and, with respect to a Registration Statement or any post-effective amendment, when the same has become effective; (B) of
any request by the SEC for amendments or supplements to a Registration Statement or related Prospectus or for additional information;
(C) of the issuance by the SEC of any stop order suspending the effectiveness of a Registration Statement or the initiation
of any proceedings for that purpose; (D) if at any time the representations and warranties of the Company contemplated by
paragraph (xiv) below ceases to be true and correct in all material respects; (E) of the receipt by the Company of any
notification with respect to the suspension of the qualification of any of the Registrable Securities for sale in any jurisdiction
or the initiation or threatening of any proceeding for such purpose; and (F) of the happening of any event that makes any
statement of a material fact made in the Registration Statement, the Prospectus or any document incorporated therein by reference
untrue or which requires the making of any changes in the Registration Statement or Prospectus so that they will not contain 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 not misleading;

 

    	11

    	 

    

 

(iv)         make
every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of a Registration Statement at the earliest
possible moment;

 

(v)          if
reasonably requested by the managing underwriters, immediately incorporate in a Prospectus supplement or post-effective amendment
such information as the managing underwriters believe (on advice of counsel) should be included therein as required by applicable
law relating to such sale of Registrable Securities, including, without limitation, information with respect to the purchase price
being paid for the Registrable Securities by such underwriters and with respect to any other terms of the underwritten (or “best-efforts”
underwritten) offering; and make all required filings of such Prospectus supplement or post-effective amendment as soon as notified
of the matters to be incorporated in such Prospectus supplement or post-effective amendment;

 

(vi)         furnish
to each selling Holder of Registrable Securities and each managing underwriter, without charge, at least one signed copy of the
Registration Statement and any post-effective amendment thereto, including financial statements and schedules, all documents incorporated
therein by reference and all exhibits (including those incorporated by reference);

 

(vii)        deliver
to each selling Holder of Registrable Securities and the underwriters, if any, without charge, as many copies of the Prospectus
or Prospectuses (including each preliminary Prospectus) any amendment or supplement thereto as such Persons may reasonably request;
the Company consents to the use of such Prospectus or any amendment or supplement thereto by each of the selling Holders of Registrable
Securities and the underwriters, if any, in connection with the offering and sale of the Registrable Securities covered by such
Prospectus or any Amendment or supplement thereto;

 

(viii)       prior
to any public offering of Registrable Securities, cooperate with the selling Holders of Registrable Securities, the underwriters,
if any, and their respective counsel in connection with the registration or qualification of such Registrable Securities for offer
and sale under the securities or Blue Sky laws of such jurisdictions within the United States as any selling Holder or underwriter
reasonably requests in writing, keep each such registration or qualification effective during the period such Registration Statement
is required to be kept effective and do any and all other acts or things necessary or advisable to enable the disposition in such
jurisdictions of the Registrable Securities covered by the applicable Registration Statement; provided that the Company will not
be required to qualify to do business in any jurisdiction where it is not then so qualified or to take any action which would subject
the Company to general service of process in any jurisdiction where it is not at the time so subject;

 

(ix)          cooperate with the selling Holders of Registrable Securities and the managing
underwriters, if any, to facilitate the timely preparation and delivery of certificates representing Registrable Securities
to be sold and not bearing any restrictive legends; and enable such Registrable Securities to be in such denominations and
registered in such names as the managing underwriters may request at least two Business Days prior to any sale of Registrable
Securities to the underwriters;

 

    	12

    	 

    

 

(x)          use
its best efforts to cause the Registrable Securities covered by the applicable Registration Statement to be registered with or
approved by such other governmental agencies or authorities within the United States as may be necessary to enable the seller or
sellers thereof or the underwriters, if any, to consummate the disposition of such Registrable Securities;

 

(xi)         upon
the occurrence of any event contemplated by Section 16(d)(iii)(F) above, prepare a supplement or post-effective amendment
to the applicable Registration Statement or related Prospectus or any document incorporated therein by reference or file any other
required document so that, as thereafter delivered to the purchasers of the Registrable Securities being sold thereunder, such
Prospectus will not contain an untrue statement of a material fact or omit to state any material fact necessary to make the statements
therein not misleading;

 

(xii)        with
respect to each issue or class of Registrable Securities, use its best efforts to cause all Registrable Securities covered by the
Registration Statements to be listed on each securities exchange, if any, on which similar securities issued by the Company are
then listed if requested by the Holders of a majority of such issue or class of Registrable Securities;

 

(xiii)       enter
into such agreements (including an underwriting agreement) and take all such other action reasonably required in connection therewith
in order to expedite or facilitate the disposition of such Registrable Securities and in such connection, if the registration is
in connection with an underwritten offering (A) make such representations and warranties to the underwriters, in such form,
substance and scope as are customarily made by issuers to underwriters in underwritten offering and confirm the same if and when
requested; (B) obtain opinions of counsel to the Company and updates thereof (which counsel and opinions in form, scope and
substance shall be reasonably satisfactory to the underwriters and selling Holders of Registrable Securities) addressed to the
underwriters and selling Holders of Registrable Securities covering the matters customarily covered in opinions requested in underwritten
offerings and such other matters as may be reasonably requested by such underwriters and selling Holders of Registrable Securities;
(C) obtain “cold comfort” letters and updates thereof from the Company's accountants addressed to the underwriters
and selling Holders of Registrable Securities, such letters to be in customary form and covering matters of the type customarily
covered in “cold comfort” letters in connection with underwritten offerings; (D) set forth in full in any underwriting
agreement entered into the indemnification provisions and procedures of Section 16(f) hereof with respect to all parties to
be indemnified pursuant to said Section; and (E) deliver such documents and certificates as may be reasonably requested by
the underwriters to evidence compliance with clause (i) above and with any customary conditions contained in the underwriting agreement
or other agreement entered into by the Company; the above shall be done at each closing under such underwriting or similar agreement
or as and to the extent required hereunder;

 

    	13

    	 

    

 

(xiv)        if
the registration is in connection with a nonunderwritten offering (A) obtain opinions of counsel to the Company and updates
thereof (which counsel and opinions in form, scope and substance shall be reasonably satisfactory to the selling Holders of Registrable
Securities) addressed to the selling Holders of Registrable Securities covering the matters customarily covered in opinions requested
in underwritten offerings and such other matters as may be reasonably requested by such selling Holders of Registrable Securities;
and (B) deliver letters and updates thereof signed by the Chief Financial Officer of the Company and addressed to the selling
Holders of Registrable Securities, such letters certifying the accuracy of financial information included or incorporated in the
Prospectus and covering matters of the type customarily covered in “cold comfort” letters from accountants in connection
with underwritten offerings.

 

(xv)         make
available for inspection by one or more representatives of the Holders of Registrable Securities being sold, any underwriter participating
in any disposition pursuant to such registration, and any attorney or accountant retained by such Holders or underwriter, all financial
and other records, pertinent corporate documents and properties of the Company, and cause the Company's officers, directors and
employees to supply all information reasonably requested by any such representatives, in connection with such; and

 

(xvi)        otherwise
use its best efforts to comply with all applicable Federal and state regulations; and take such other action as may be reasonably
necessary to or advisable to enable each such Holder and each such underwriter to consummate the sale or disposition in such jurisdiction
or jurisdiction in which any such Holder or underwriter shall have requested that the Registrable Securities be sold.

 

Except as otherwise provided
in this Agreement, the Company shall have sole control in connection with the preparation, filing, withdrawal, amendment or supplementing
of each Registration Statement, the selection of underwriters, and the distribution of any preliminary prospectus included in the
Registration Statement, and may include within the coverage thereof additional shares of Common Stock or other securities for its
own account or for the account of one or more of its other security holders.

 

The Company may require
each Seller of Registrable Securities as to which any registration is being effected to furnish to the Company such information
regarding the distribution of such securities and such other information as may otherwise be required by the 193 3 Act to be included
in such Registration Statement.

 

(d)          Expenses
of Registration. All expenses, other than underwriting discounts and commissions and other fees and expenses of investment
bankers and other than brokerage commissions, incurred in connection with registrations, filings or qualifications pursuant to
Section 16(a) or 16(b), including, without limitation, all registration, listing and qualifications fees, printers and accounting
fees and the fees and disbursements of counsel for the Company and the Selling Holders, shall be borne by the Company; provided,
however, that the Company shall only be required to pay the fees and out-of-pocket expenses of one legal counsel selected
by the Selling Holders to represent them in connection with such registration.

 

    	14

    	 

    

 

(e)          Indemnification.
In the event any Registrable Securities are included in a Registration Statement under this Agreement:

 

(i)           To
the extent permitted by law, the Company will indemnify and hold harmless each Selling Holder who holds such Registrable Securities,
the directors, if any, of such Selling Holder, the officers, if any, of such Selling Holder, each person, if any, who controls
any Selling Holder within the meaning of the 1933 Act, any underwriter (as defined in the 1933 Act) for the Selling Holders, the
directors, if any, of such underwriter and the officers, if any, of such underwriter, and each person, if any, who controls any
such underwriter within the meaning of the 1933 Act (each, an “Indemnified Person”), against any losses, claims, damages,
expenses or liabilities (joint or several) (collectively, “Claims”) to which any of them may become subject under the
1933 Act or otherwise, insofar as such Claims (or actions or proceedings, whether commenced or threatened, in respect thereof)
arise out of or are based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration
Statement when it first became effective, or any related final prospectus, amendment or supplement thereto, or the omission or
alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein, in
light of the circumstances under which the statements therein were made, not misleading (a “Violation”). The Company
shall reimburse the Selling Holders and each such underwriter or controlling person, promptly as such expenses are incurred and
are due and payable, for any legal fees or other reasonable expenses incurred by them in connection with investigating or defending
any such Claim. Notwithstanding anything to the contrary contained herein, the indemnification agreement contained in this Section
16(f)(1) shall not apply in such case to the extent any such Claim arising out of or based upon a Violation which occurs in reliance
upon and in conformity with information furnished in writing to the Company by any Indemnified Person or underwriter for such Indemnified
Person expressly for use in connection with the preparation of the Registration Statement or any such amendment thereof or supplement
thereto, and shall not apply to amounts paid in settlement of any Claim if such settlement is effected without the prior written
consent of the Company, which consent shall not be unreasonably withheld.

 

(ii)          In
connection with any Registration Statement in which a Selling Holder is participating, each such Selling Holder agrees to indemnify
and hold harmless, to the same extent and in the same manner set forth in Section 16(f)(i), the Company, each of its directors,
each of its officers who signs the Registration Statement, each person, if any, who controls the Company within the meaning of
the 1933 Act, any underwriter and any other stockholder selling securities pursuant to the Registration Statement or any of its
directors or officers or any person who controls such stockholder or underwriter within the meaning of the 1933 Act (collectively
and together with an Indemnified Person, an “Indemnified Party”), against any Claim to which any of them may become
subject, under the 1933 Act or otherwise, insofar as such Claim arises out of or is based upon any Violation, in each case to the
extent (and only to the extent) that such Violation occurs in reliance upon and in conformity with written information furnished
to the Company by such Selling Holder expressly for use in connection with such Registration Statement, and such Selling Holder
will reimburse any legal or other expenses reasonably incurred by them in connection with investigating or defending any such Claim;
provided, however, that the indemnity agreement contained in this Section 16(f)(ii) shall not apply to amounts paid in settlement
of any Claim if such settlement is effected without the prior written consent of such Selling Holder, which consent shall not be
unreasonably withheld.

 

(iii)         The
Company shall be entitled to receive indemnities from underwriters, selling brokers, dealer managers and similar securities industry
professionals participating in any distribution to the same extent as provided above, with respect to information furnished in
writing by such persons expressly for inclusion in the Registration Statement.

 

    	15

    	 

    

 

(iv)         Promptly
after receipt by an Indemnified Person or Indemnified Party under this Section 16(f) of notice of the commencement of any action
or proceeding (including any governmental action or investigation), such Indemnified Person or Indemnified Party shall, if a Claim
in respect thereof is made against any indemnifying party under this Section 16(f), deliver to the indemnifying party a written
notice of the commencement thereof and the indemnifying party shall have the right to participate in, and, to the extent the indemnifying
party so desires, jointly with any other indemnifying party similarly noticed, to assume control of the defense thereof with counsel
mutually satisfactory to the indemnifying parties; provided, however, that an Indemnified Person or Indemnified Party shall have
the right to retain its own counsel, with the fees and expenses to be paid by the indemnifying party, if, in the reasonable opinion
of counsel retained by the indemnifying party, the representation by such counsel of the Indemnified Person or Indemnified Party
and the indemnifying party would be inappropriate due to actual or potential differing interests between such Indemnified Person
or Indemnified Party and any other party represented by such counsel in such proceeding. The Indemnifying Party shall pay for only
one separate legal counsel for the Indemnified Parties; such legal counsel shall be selected by the Indemnified Parties holding
a majority in interest of the Registrable Securities. The failure to deliver written notice to the indemnifying party within a
reasonable time of the commencement of any such action shall not relieve such indemnifying party of any liability to the Indemnified
Person or Indemnified Party under this Section 16(f), except to the extent that the indemnifying party is prejudiced in its
ability to defend such action. The indemnification required by this Section 16(f) shall be made by periodic payments of the amount
thereof during the course of the investigation or defense, as such expense, loss, damage or liability is incurred and is due and
payable.

 

(v)          Notwithstanding
any of the foregoing, if, in connection with an underwritten public offering of Registrable Securities, the Company, the Selling
Holders and the underwriter(s) enter into an underwriting or purchase agreement relating to such offering which contains provisions
covering indemnification and contribution among the parties, the indemnification and contribution provisions of this Section 16(f)
shall be deemed inoperative for purposes of such offering.

 

(f)          Contribution.
To the extent any indemnification by an indemnifying party is prohibited or limited by law, the indemnifying party agrees to make
the maximum contribution with respect to any amounts for which it would otherwise be liable under Section 16(f) to the fullest
extent permitted by law; provided, however, that (i) no contribution shall be made under circumstances where
the maker would not have been liable for indemnification under the fault standards set forth in Section 16(f), (ii) no
seller of Registrable Securities guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the 1933 Act)
shall be entitled to contribution from any seller of Registrable Securities who was not guilty of such fraudulent misrepresentation,
and (iii) contribution by any seller of Registrable Securities shall be limited in amount to the net amount of proceeds received
by such seller from the sale of such Registrable Securities.

 

(g)          Reports
Under Exchange Act. With a view to making available to the Holders the benefits of Rule 144 promulgated under the 1933
Act or any other similar rule or regulation of the SEC that may at any time permit the Holders to sell securities of the Company
to the public without registration (“Rule 144”), the Company agrees to:

 

    	16

    	 

    

 

(i)           make
and keep public information available, as those terms are understood and defined in Rule 144; and

 

(ii)          file
with the SEC in a timely manner all reports and other documents required of the Company under the 1933 Act and the Securities Exchange
Act of 1934, as amended (the “Exchange Act”); and

 

(iii)         furnish
to each Holder so long as such Holder owns Registrable Securities, promptly upon request, (i) a written statement by the Company
that it has complied with the reporting requirements of Rule 144, (ii) a copy of the most recent annual or quarterly report of
the Company and such other reports and documents so filed by the Company, and (iii) such other information as may be reasonably
requested to permit the Holders to sell such securities without registration pursuant to Rule 144.

 

(h)          Assignment
of the Registration Rights. The rights to have the Company register Registrable Securities pursuant to this Agreement shall
be automatically assigned by the Holders to transferees or assignees of all or any portion of such securities only if: (i) the
Holder agrees in writing with the transferee or assignee to assign such rights, (ii) the Company is, within a reasonable time after
such transfer or assignment, furnished with written notice of the name and address of such transferee or assignee, (iii) such assignment
is in accordance with and permitted by law and all other agreements between the transferor or assignor and the Company, including
without limitation, stockholder's agreements, warrants and subscription agreements, and the transferor or assignor otherwise is
not in material default of any obligation to the Company under any such other agreement, and (iv) at or before the time the Company
received the written notice contemplated by clause (ii) of this sentence, the transferee or assignee agrees in writing with the
Company to be bound by all of the provisions contained herein.

 

17.         Miscellaneous.

 

(a)          Construction.
Unless the context indicates otherwise, the term “Holder” shall include any transferee or transferees of this Warrant
pursuant to Section 15(b), and the term “Warrant” shall include any and all warrants outstanding pursuant to this Agreement,
including those evidenced by a certificate or certificates issued upon division, exchange, substitution or transfer pursuant to
Section 15.

 

(b)          Restrictions.
By receipt of this Warrant, the Holder makes the same representations with respect to the acquisition of this Warrant as the Holder
is required to make upon the exercise of this Warrant and acquisition of the Shares purchasable hereunder as set forth in the Form
of Investment Letter attached as Exhibit A to the Notice of Exercise attached hereto.

 

(c)          Notices.
Unless otherwise provided, any notice required or permitted under this Warrant shall be given in writing and shall be deemed effectively
given upon personal delivery to the party to be notified or three (3) days following deposit with the United States Post Office,
by registered or certified mail, postage prepaid and addressed to the party to be notified (or one (1) day following timely deposit
with a reputable overnight courier with next day delivery instructions), or upon confirmation of receipt by the sender of any notice
by facsimile transmission, at the address indicated below or at such other address as such party may designate by ten (10) days'
advance written notice to the other parties.

 

    	17

    	 

    

 

	 	To Holder:	Spartan Securities Group, Ltd.
	 	 	15500 Roosevelt Boulevard, Suite 301
	 	 	St. Petersburg, FL 33701
	 	 	 
	 	To the Company:  	General Agriculture Corporation
	 	 	Room 801, Plaza B, Yonghe Building
	 	 	No. 28 AnDingMen East Street
	 	 	Dongcheng District
	 	 	Beijing, China 100007

 

(d)          Governing
Law. This Warrant shall be governed by and construed under the laws of the State of New York as applied to agreements among
New York residents entered into and to be performed entirely within New York.

 

(e)          Entire
Agreement. This Warrant, the exhibits and schedules hereto, and the documents referred to herein, constitute the entire
agreement and understanding of the parties hereto with respect to the subject matter hereof, and supersede all prior and contemporaneous
agreements and understandings, whether oral or written, between the parties hereto with respect to the subject matter hereof.

 

(f)           Binding
Effect. This Warrant and the various rights and obligations arising hereunder shall inure to the benefit of and be binding
upon the Company and its successors and assigns, and Holder and its successors and assigns.

 

(g)          Waiver;
Consent; Conflicts. This Warrant may not be changed, amended, terminated, augmented, rescinded or discharged (other than
by performance), in whole or in part, except by a writing executed by the parties hereto, and no waiver of any of the provisions
or conditions of this Warrant or any of the rights of a party hereto shall be effective or binding unless such waiver shall be
in writing and signed by the party claimed to have given or consented thereto. Notwithstanding anything to the contrary herein,
in the event of any conflict with the terms of Warrant and any applicable FINRA rule, such FINRA rule shall govern and this Warrant
will be deemed modified to the extent necessary to ensure compliance with such applicable FINRA rule.

 

(h)          Severability.
If one or more provisions of this Warrant are held to be unenforceable under applicable law, such provision shall be excluded from
this Warrant and the balance of the Warrant shall be interpreted as if such provision were so excluded and the balance shall be
enforceable in accordance with its terms.

 

(i)           Counterparts.
This Warrant may be signed in several counterparts, each of which shall constitute an original.

 

    	18

    	 

    

 

IN WITNESS WHEREOF, the
parties hereto have executed this Common Stock Warrant effective as of the date hereof.

 

	DATED:  ________, 2015	THE COMPANY;
	 	GENERAL AGRICULTURE CORPORATION
	 	 
	 	By:	 
	 	Name: 	 
	 	Its:	 
	 	 
	 	HOLDER:
	 	 
	 	By:	 
	 	Name: 	 
	 	Its:	 

 

    	19

    	 

    

 

NOTICE OF EXERCISE

 

To: General Agriculture
Corporation

 

1.          The
undersigned hereby elects to purchase ________________ shares of common stock, $0.0001 par value per Share (“Stock”)
of General Agriculture Corporation, a Delaware corporation (the “Company”) pursuant to the terms of the attached Warrant,
and tenders herewith payment of the purchase price pursuant to the terms of the Warrant.

 

2.          Attached
as Exhibit B is an investment representation letter addressed to the Company and executed by the undersigned as required by Section
14 of the Warrant.

 

3.          Payment
shall take the form of (check applicable box):

 

 ̈
in lawful money of the United States; or

 

 ̈
if permitted, the cancellation of such number of Shares as is necessary, in accordance with the formula set forth in subsection
2(b), to exercise this Warrant with respect to the maximum number of Shares purchasable pursuant to the cashless exercise procedure
set forth in subsection 2(b).

 

3.          Please
issue said Shares in the name of the undersigned and deliver such Shares to the following DWAC Account Number, if permitted under
Section 4(a) of the Warrant, or otherwise to the mailing address set forth below:

 

	 	DWAC Account Number	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	Mailing Address	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

    	20

    	 

    

 

4.          Please
issue a new Warrant for the unexercised portion of the attached Warrant, if any, in the name of the undersigned.

 

	 	 
	 	Holder:	 
	 	 
	Dated: ____________	 
	 	By:	 
	 	Its:	 

 

    	21

    	 

    

 

EXHIBIT A

 

LEGEND

 

THE SECURITIES REPRESENTED BY THIS CERTIFICATE
HAVE 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 AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF
WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY

 

    	22

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