Document:

EX-4.4

 Exhibit 4.4 

THIRD AMENDMENT TO 
 TERM
LOAN AGREEMENT 
 This Third Amendment to Term Loan Agreement (this “Amendment”) dated as of June 26, 2018, is
made by and among NORDSON CORPORATION, an Ohio corporation (the “Borrower”), each of the financial institutions party hereto (the “Lenders”), and PNC BANK, NATIONAL ASSOCIATION, in its capacity
as a Lender and as administrative agent for the Lenders (in such capacity as administrative gent, the “Agent”). 

WITNESSETH: 

WHEREAS, the Borrower, Agent and Lenders are parties to that certain Term Loan Agreement with an Effective Date of February 21,
2017 and a Closing Date of March 31, 2017 (as amended by that certain First Amendment and Joinder to Term Loan Agreement dated as of March 31, 2017, and that certain Second Amendment to Term Loan Agreement dated as of May 17, 2018,
and as further amended, restated, supplemented or otherwise modified from time to time, the “Loan Agreement”), pursuant to which the Lenders have made the Loans available to the Borrower subject to the terms and conditions set forth
in the Loan Agreement; 
 WHEREAS, the Borrower has requested that the Agent and the Lenders amend the Loan Agreement to modify
certain financial covenant levels and to make certain other changes to the Loan Agreement; 
 WHEREAS, the Agent and the
Lenders party hereto are agreeable to amend the Loan Agreement subject to the terms and conditions set forth in this Amendment; and 

NOW, THEREFORE, in consideration of the premises and further valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto agree as follows: 
 1. Definitions. Capitalized terms not otherwise defined in this Amendment
have the respective meanings assigned thereto in the Loan Agreement. 
 2. Amendments to Loan Agreement. Subject to the terms and
conditions set forth herein, and in reliance upon the representations and warranties of the Borrower made herein, the Loan Agreement is amended as follows: 

(a) Section 1.01 of the Loan Agreement, Definitions, is hereby amended by adding the following new definition in proper
alphabetical order: 
 “Third Amendment Fee Letter” means that certain fee letter agreement dated as of June 15, 2018, by and
among Borrower, PNC Capital Markets and Agent, relating to this Agreement and the April 10, 2015 Credit Agreement. 
  

  
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 (b) Section 1.01 of the Loan Agreement, Definitions, is hereby amended by amending
and restating the following definition in its entirety as follows: 
 “Loan Documents” shall mean, collectively, this Agreement,
each Note, each Guaranty of Payment, the Fee Letter, the Second Amendment Fee Letter, the Third Amendment Fee Letter, and any other documents relating to any of the foregoing, as any of the foregoing may from time to time be amended, restated or
otherwise modified or replaced. 
 (c) Section 2.05 of the Loan Agreement, Fees, is hereby amended and restated in its entirety
as follows: 
 Section 2.05 Fees. Borrower shall pay the fees set forth in the Fee Letter, the Second Amendment Fee Letter, and
the Third Amendment Fee Letter. 
 (d) Section 5.04 of the Loan Agreement, Financial Covenants, is hereby amended and restated in
its entirety as follows: 
 (a) Leverage Ratio. Borrower covenants that it shall not suffer or permit the Leverage Ratio to exceed
(i) during any Leverage Ratio Step-Up Period, (x) 4.00 to 1.00 for the first two fiscal quarters of such Leverage Ratio Step-Up Period and (y) 3.75 to 1.00 for the
last two fiscal quarters of such Leverage Ratio Step-Up Period and (ii) at all other times, 3.50 to 1.00. 

(b) Interest Coverage Ratio. Borrower covenants that it shall not suffer or permit the Interest Coverage Ratio to be less than 2.50 to 1.00.

 (e) Article V of the Loan Agreement, Covenants, is hereby amended by adding the new following Section 5.19 at the end of such
Article: 
 Section 5.19 Certain KYC Information. Borrower covenants that it will provide to the Agent and the
Lenders such information and documentation as may reasonably be requested by the Agent or any Lender from time to time for purposes of compliance by the Agent or such Lender with applicable laws (including without limitation the USA Patriot Act and
other “know your customer” and anti-money laundering rules and regulations), and any policy or procedure implemented by the Agent or such Lender to comply therewith. 

(f) Section 10.03 of the Loan Agreement, Amendments; Consents, is hereby amended by amending and restating clause (ii) of the
proviso as follows: 
 (ii) the Fee Letter, the Second Amendment Fee Letter, or the Third Amendment Fee Letter may only be amended, modified
or rights or privileges thereunder waived, in a writing executed by the parties thereto. 
 3. Effectiveness; Conditions Precedent.
The effectiveness of this Amendment and the amendments to the Loan Agreement contained herein are subject to: 
  

	 	(a)	the Agent’s receipt of one or more counterparts of this Amendment, duly executed by the Borrower, the Agent and the Required Lenders; 

  
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	 	(b)	the representations and warranties contained in Section 4 herein are true and correct pursuant to the terms thereof; 

  

	 	(c)	payment to the Agent, for the account of each Lender that executes and delivers a signature page to this Amendment to the Agent, an amendment fee as and to the extent set forth in the Third Amendment Fee Letter (as
defined above); and 

  

	 	(d)	payment of all other fees and expenses payable on the effective date of this Amendment (including, without limitation, reasonable fees, charges and disbursements of counsel for the Agent). 

4. Representations and Warranties. In order to induce the Agent and the Lenders to enter into this Amendment, the Borrower hereby
represents and warrants as follows as of the date hereof: 
 (a) no Event of Default exists; 

(b) each of the representations and warranties contained in Article VI of the Loan Agreement and in the other Loan Documents are true and
correct in all material respects (except such representations and warranties that are qualified by materiality, which shall be true and correct in all respects) (except to the extent that any such representations and warranties relates to an earlier
date or period, in which case such representations and warranties shall have been true and correct in all material respects on and as of such earlier date or period (except such representations and warranties that are qualified by materiality, which
shall be true and correct in all respects on and as of such earlier date or period)); and 
 (c) no change, occurrence or development shall
have occurred since October 31, 2017, that has had or could reasonably be expected to have a material adverse effect on the business, operations, property or condition (financial or otherwise) of Borrower and its Subsidiaries taken as a whole.

 5. Entire Agreement. This Amendment, together with all the Loan Documents executed in connection herewith (collectively, the
“Relevant Documents”), sets forth the entire understanding and agreement of the parties hereto in relation to the subject matter hereof and supersedes any prior negotiations and agreements among the parties relating to such subject
matter. No promise, condition, representation or warranty, express or implied, not set forth in the Relevant Documents shall bind any party hereto, and no such party has relied on any such promise, condition, representation or warranty. Each of the
parties hereto acknowledges that, except as otherwise expressly stated in the Relevant Documents, no representations, warranties or commitments, express or implied, have been made by any party to the other with respect to the subject matter hereof.
None of the terms or conditions of this Amendment may be changed, modified, waived or canceled orally or otherwise, except in writing and in accordance with Section 10.03 of the Loan Agreement. 

 

  
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 6. Full Force and Effect of Agreement; No Novation. Except as hereby specifically amended,
modified or supplemented herein, the Loan Agreement and all other Loan Documents are hereby confirmed and ratified in all respects and shall be and remain in full force and effect according to their respective terms. The parties hereto acknowledge
and agree that the amendments contained herein do not constitute a novation of the Loan Agreement, the other Loan Documents or the Indebtedness described therein, and shall not, in any case, affect, diminish or abrogate the Borrower’s liability
under the Loan Agreement or any other Loan Document or the priority of the Loan Agreement or any other Loan Document. 
 7. Reviewed by
Attorneys. Borrower represents and warrants to the Agent and the Lenders that it (a) understands fully the terms of this Amendment and the consequences of the execution and delivery of this Amendment, (b) has been afforded an
opportunity to have this Amendment reviewed by, and to discuss this Amendment and documents executed in connection herewith with, such attorneys and other persons as Borrower may wish, (c) has entered into this Amendment and executed and
delivered all documents in connection herewith of its own free will and accord and without threat, duress or other coercion of any kind by any Person and (d) is not relying upon oral representations or statements inconsistent with the terms and
provisions of this Amendment. The parties hereto acknowledge and agree that neither this Amendment nor the other documents executed pursuant hereto shall be construed more favorably in favor of one than the other based upon which party drafted the
same, it being acknowledged that all parties hereto contributed substantially to the negotiation and preparation of this Amendment and the other documents executed pursuant hereto or in connection herewith. 

8. Counterparts. This Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts
and by facsimile signature, each of which when so executed and delivered shall be deemed to be an original and all of which taken together shall constitute but one and the same agreement. 

9. Governing Law. THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF OHIO AND THE RESPECTIVE
RIGHTS AND OBLIGATIONS OF BORROWER, AGENT AND THE LENDERS SHALL BE GOVERNED BY OHIO LAW, WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS, AND SHALL BE FURTHER SUBJECT TO THE PROVISIONS OF SECTION 10.15 OF THE LOAN AGREEMENT. 

10. Severability of Provisions; Captions; Attachments. Any provision of this Amendment that is prohibited or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof or affecting the validity or enforceability of such provision in any other
jurisdiction. The several captions to Sections and subsections herein are inserted for convenience only and shall be ignored in interpreting the provisions of this Amendment. Each schedule or exhibit attached to this Amendment shall be incorporated
herein and shall be deemed to be a part hereof. 
 11. References. All references in any of the Loan Documents to the “Credit
Agreement” or “Loan Agreement” shall mean the Loan Agreement (as amended by this Amendment), as further amended, modified, supplemented or restated from time to time in accordance with the terms of the Loan Agreement. 

  
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 12. Binding Effect; Borrower’ Assignment. This Amendment shall be binding upon and
inure to the benefit of Borrower, Agent and each of the Lenders and their respective successors and assigns, except that Borrower shall not have the right to assign its rights hereunder or any interest herein without the prior written consent of
Agent and all of the Lenders. 
 [Signature pages follow.]  

 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this instrument to be made, executed
and delivered by their duly authorized officers as of the day and year first above written. 
  

	
	 NORDSON CORPORATION, as Borrower
  

	By:                                     
                                         
                  
	Name:
	Title:

 
	
	 PNC BANK, NATIONAL ASSOCIATION, as Agent and a Lender

 

	By:                                     
                                         
                  
	Name:
	Title:

 THIRD AMENDMENT TO 

TERM LOAN AGREEMENT 
 SIGNATURE PAGE

 
	
	 BANK OF AMERICA, N.A., as a Lender
  

	By:                                     
                                         
                  
	Name:
	Title:

 THIRD AMENDMENT TO 

TERM LOAN AGREEMENT 
 SIGNATURE PAGE

 
	
	 JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, as a Lender

 

	By:                                     
                                         
                  
	Name:
	Title:

 THIRD AMENDMENT TO 

TERM LOAN AGREEMENT 
 SIGNATURE PAGE

 
	
	 WELLS FARGO BANK, NATIONAL ASSOCIATION, as a Lender

 

	By:                                     
                                         
                  
	Name:
	Title:

 THIRD AMENDMENT TO 

TERM LOAN AGREEMENT 
 SIGNATURE PAGE

 
	
	 BRANCH BANKING AND TRUST COMPANY, as a Lender
  

	By:                                     
                                         
                  
	Name:
	Title:

 THIRD AMENDMENT TO 

TERM LOAN AGREEMENT 
 SIGNATURE PAGE

 
	
	 KEYBANK NATIONAL ASSOCIATION, as a Lender
  

	By:                                     
                                         
                  
	Name:
	Title:

 THIRD AMENDMENT TO 

TERM LOAN AGREEMENT 
 SIGNATURE PAGE

 
	
	 HSBC BANK USA, N.A., as a Lender
  

	By:                                     
                                         
                  
	Name:
	Title:

 THIRD AMENDMENT TO 

TERM LOAN AGREEMENT 
 SIGNATURE PAGE

 
	
	 U.S. BANK NATIONAL ASSOCIATION, as a Lender
  

	By:                                     
                                         
                  
	Name:
	Title:

 THIRD AMENDMENT TO 

TERM LOAN AGREEMENT 
 SIGNATURE PAGE

 
	
	 THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., as a Lender

 

	By:                                     
                                         
                  
	Name:
	Title:

 THIRD AMENDMENT TO 

TERM LOAN AGREEMENT 
 SIGNATURE PAGE

 
	
	 COMMERZBANK AG, NEW YORK BRANCH, as a Lender
  

	By:                                     
                                         
                  
	Name:
	Title:

 THIRD AMENDMENT TO 

TERM LOAN AGREEMENT 
 SIGNATURE PAGE

 
	
	 COMPASS BANK, as a Lender
  

	By:                                     
                                         
                  
	Name:
	Title:

 THIRD AMENDMENT TO 

TERM LOAN AGREEMENT 
 SIGNATURE PAGE

 
	
	 BMO HARRIS BANK N.A., as a Lender
  

	By:                                     
                                         
                  
	Name:
	Title:

 THIRD AMENDMENT TO 

TERM LOAN AGREEMENT 
 SIGNATURE PAGE

 
	
	 MORGAN STANLEY BANK, N.A., as a Lender
  

	By:                                     
                                         
                  
	Name:
	Title:

 THIRD AMENDMENT TO 

TERM LOAN AGREEMENT 
 SIGNATURE PAGE

 
	
	 CHEMICAL BANK, as a Lender
  

	By:                                     
                                         
                  
	Name:
	Title:

 THIRD AMENDMENT TO 

TERM LOAN AGREEMENT 
 SIGNATURE PAGE

 
	
	 FIRST NATIONAL BANK OF PENNSYLVANIA, as a Lender

 

	By:                                     
                                         
                  
	Name:
	Title:

 THIRD AMENDMENT TO 

TERM LOAN AGREEMENT 
 SIGNATURE PAGE

 
	
	 CITIZENS BANK, N.A., as a Lender
  

	By:                                     
                                         
                  
	Name:
	Title:

 THIRD AMENDMENT TO 

TERM LOAN AGREEMENT 
 SIGNATURE PAGE

 
	
	 THE HUNTINGTON NATIONAL BANK, as a Lender
  

	By:                                     
                                         
                  
	Name:
	Title:

 THIRD AMENDMENT TO 

TERM LOAN AGREEMENT 
 SIGNATURE PAGE

 
	
	 THE NORTHERN TRUST COMPANY, as a Lender
  

	By:                                     
                                         
                  
	Name:
	Title:

 THIRD AMENDMENT TO 

TERM LOAN AGREEMENT 
 SIGNATURE PAGESECURITIES
SETTLEMENT AGREEMENT

 

This
SECURITIES SETTLEMENT AGREEMENT (the “Agreement”), dated as of June 27, 2018, is by and among MagneGas
Corporation, a Delaware corporation with offices located at 11885 44th St. N. Clearwater, FL 33762 (the “Company”)
and Maxim Group, LLC (“Maxim”).

 

RECITALS

 

	 	A.	Maxim
    is entitled to certain placement agent fees from the Company in the aggregate amount of $556,016 (the “Agency Fee”)
    arising from the consummation of that certain convertible preferred transaction dated as of June 12, 2017 of the Company,
    pursuant to that certain engagement letter by and between the Company and Maxim (“Engagement Agreement”).
	 	 	 
	 	B.	The
    Company and Maxim desire to enter into this transaction for the Company to issue to Maxim 817,670 shares of Preferred Stock
    (as defined below) in satisfaction and payment in full of payment of the Agency Fee.
	 	 	 
	 	C.	The
    issuance of the shares of the Preferred Stock is being made pursuant to a currently effective shelf registration statement
    on Form S-3, which includes the Preferred Stock registered thereunder (Registration Number 333-207928) (the “Registration
    Statement”), which Registration Statement has been declared effective in accordance with the Securities Act of 1933,
    as amended (the “1933 Act”), by the United States Securities and Exchange Commission (the “SEC”).
	 	 	 
	 	D.	The
    Company has authorized a new series of convertible preferred stock of the Company designated as “Series F Convertible
    Preferred Stock”, $0.001 par value, the terms of which are set forth in the certificate of designation for such series
    of Preferred Stock (the “Certificate of Designations”) in the form attached hereto as Exhibit A
    (together with any convertible preferred shares issued in replacement thereof in accordance with the terms thereof, the “Preferred
    Stock”), which Preferred Stock shall be convertible into shares of the Company’s common stock (“Common
    Stock”) (such shares of Common Stock issuable pursuant to the terms of the Certificate of Designations, including,
    without limitation, upon conversion or otherwise, collectively, the “Conversion Shares”), in accordance
    with the terms of the Certificate of Designations.
	 	 	 
	 	E.	The
    Preferred Stock and the Conversion Shares are collectively referred to herein as the “Securities”.

 

    	 

    	 

    

 

AGREEMENT

 

NOW,
THEREFORE, in consideration of the recitals above incorporated herein by this reference and the mutual covenants contained herein
and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and Maxim
hereby agree as follows:

 

1.
ISSUANCE OF PREFERRED STOCK IN SATISFACTION OF AGENCY FEE.

 

(a)
Issuance of Preferred Stock. In satisfaction in full of the payment of the Agency Fee to Maxim, the Company shall issue
to Maxim on the Closing Date (as defined below) 817,670 shares of Preferred Stock.

 

(b)
Closing. The closing (the “Closing”) of the purchase of the Preferred Stock by Maxim shall occur at
the offices of Ellenoff Grossman & Schole LLP. The date and time of the Closing (the “Closing Date”) shall
be 10:00 a.m., New York time, on the first (1st) Business Day (as defined below) after the date hereof. As used herein “Business
Day” means any day other than a Saturday, Sunday or other day on which commercial banks in New York, New York are authorized
or required by law to remain closed.

 

2.
MAXIM’S REPRESENTATIONS AND WARRANTIES.

 

Maxim
represents and warrants to the Company with respect to only itself that, as of the date hereof and as of the Closing Date:

 

(a)
Validity; Enforcement. This Agreement has been duly and validly authorized, executed and delivered on behalf of Maxim and
shall constitute the legal, valid and binding obligations of Maxim enforceable against Maxim in accordance with its respective
terms, except as such enforceability may be limited by general principles of equity or to applicable bankruptcy, insolvency, reorganization,
moratorium, liquidation and other similar laws relating to, or affecting generally, the enforcement of applicable creditors’
rights and remedies. 

 

(b)
No Conflicts. The execution, delivery and performance by Maxim of this Agreement and the consummation by Maxim of the transactions
contemplated hereby will not (i) result in a violation of the organizational documents of Maxim, or (ii) conflict with, or constitute
a default (or an event which with notice or lapse of time or both would become a default) under, or give to others any rights
of termination, amendment, acceleration or cancellation of, any agreement, indenture or instrument to which Maxim is a party,
or (iii) result in a violation of any law, rule, regulation, order, judgment or decree (including federal and state securities
laws) applicable to Maxim, except in the case of clauses (ii) and (iii) above, for such conflicts, defaults, rights or violations
which could not, individually or in the aggregate, reasonably be expected to have a material adverse effect on the ability of
Maxim to perform its obligations hereunder. 

 

3.
REPRESENTATIONS AND WARRANTIES OF THE COMPANY.

 

The
Company represents and warrants to Maxim that, as of the date hereof and as of the Closing Date:

 

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(a)
Authorization; Enforcement; Validity. The Company has the requisite power and authority to enter into and perform its obligations
under this Agreement and to issue the Securities in accordance with the terms hereof and thereof. The execution and delivery of
this Agreement by the Company, and the consummation by the Company of the transactions contemplated hereby (including, without
limitation, the issuance of the shares of Preferred Stock and the reservation for issuance of the Conversion Shares issuable upon
conversion of the shares of Preferred Stock) have been duly authorized by the Company’s board of directors and (other than
(x) the filing with the SEC of the prospectus supplement related to the Securities required by Rule 424(b) under the 1933 Act
(the “Prospectus Supplement”) supplementing the base prospectus forming part of the Registration Statement
(such base prospectus as so supplemented, the “Prospectus”) and (y) any other filings as may be required by
any state securities agencies (collectively, the “Required Filings”)) no further filing, consent or authorization
is required by the Company, its subsidiaries, their respective boards of directors or their stockholders or other governing body.
This Agreement has been duly executed and delivered by the Company, and constitutes the legal, valid and binding obligations of
the Company, enforceable against the Company in accordance with its respective terms, except as such enforceability may be limited
by general principles of equity or applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws
relating to, or affecting generally, the enforcement of applicable creditors’ rights and remedies and except as rights to
indemnification and to contribution may be limited by federal or state securities law. The Certificate of Designations in the
form attached hereto as Exhibit A will be filed with the Delaware Secretary of State and will be in full force and
effect as of the Closing, enforceable against the Company in accordance with its terms and will not have been amended as of the
Closing.

 

(b)
Issuance of Securities. The issuance of the shares of Preferred Stock is duly authorized and shall be validly issued, fully
paid and non-assessable and free from all preemptive or similar rights, mortgages, defects, claims, liens, pledges, charges, taxes,
rights of first refusal, encumbrances, security interests and other encumbrances (collectively “Liens”) with
respect to the issuance thereof. As of the Closing, the Company shall have reserved from its duly authorized capital stock not
less than the sum of 100% of the maximum number of Conversion Shares issuable upon conversion of the shares of Preferred Stock
as of the date hereof, and any such conversion shall not take into account any limitations on the conversion of the Preferred
Stock set forth in the Certificate of Designations). Upon issuance or conversion in accordance with the Preferred Stock, the Conversion
Shares, when issued, will be validly issued, fully paid and non-assessable and free from all preemptive or similar rights or liens
with respect to the issue thereof, with the holders being entitled to all rights accorded to a holder of Common Stock. The issuance
of the shares of Preferred Stock and Conversion Shares has been registered under the 1933 Act and are being issued pursuant to
the Registration Statement and as such are freely transferable and freely tradable by Maxim without restriction, whether by way
of registration or some exemption therefrom. The Registration Statement is effective and available for the issuance of the Securities
thereunder and the Company has not received any notice that the SEC has issued or intends to issue a stop-order with respect to
the Registration Statement or that the SEC otherwise has suspended or withdrawn the effectiveness of the Registration Statement,
either temporarily or permanently, or intends or has threatened in writing to do so. The Registration Statement and any prospectus
included therein, including the Prospectus, complied in all material respects with the requirements of the 1933 Act, and the documents
incorporated by reference into the Registration Statement when filed, complied in all material respects with the requirements
of the 1934 Act and, in each case, with the rules and regulations of the SEC promulgated under the 1933 Act or the 1934 Act, as
the case may be. At the time the Registration Statement and any amendments thereto became effective the Registration Statement
and any amendments thereto complied with and, upon the filing of the Prospectus Supplement after the date of this Agreement the
Registration Statement, will comply in all material respects with the requirements of the 1933 Act and 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. The Prospectus and any amendments or supplements thereto, at the time the Prospectus or any amendment
or supplement thereto was issued and the Prospectus Supplement at the Closing Date, complied and will comply, as the case may
be, in all material respects with the requirements of the 1933 Act and did not, and will not, contain any untrue statement of
a material fact or omit to state a material fact necessary in order to make the statements therein, in light of the circumstances
under which they were made, not misleading. The Company meets all of the requirements of General Instruction I.B.6 for the use
of Form S-3 under the 1933 Act for the offering and sale of the Securities contemplated by this Agreement, and the SEC has not
notified the Company of any objection to the use of the form of the Registration Statement pursuant to Rule 401(g)(1) under the
1933 Act. The Registration Statement meets the requirements set forth in Rule 415(a)(1)(x) under the 1933 Act.

 

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(c)
No Conflicts. The execution, delivery and performance of this Agreement by the Company and the consummation by the Company
of the transactions contemplated hereby (including, without limitation, the issuance of the shares of Preferred Stock and issuance
of the Conversion Shares issuable upon conversion of the shares of Preferred Stock) will not (i) result in a violation of the
Certificate of Incorporation (as defined below) (including, without limitation, any certificate of designation contained therein),
Bylaws (as defined below), certificate of formation, memorandum of association, articles of association, bylaws or other organizational
documents of the Company or any of its subsidiaries, or any capital stock or other securities of the Company or any of its subsidiaries,
(ii) conflict with, or constitute a default (or an event which with notice or lapse of time or both would become a default) in
any respect under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture
or instrument to which the Company or any of its subsidiaries is a party, or (iii) result in a violation of any law, rule, regulation,
order, judgment or decree (including, without limitation, foreign, federal and state securities laws and regulations and the rules
and regulations of the Nasdaq Capital Market (the “Principal Market”) and including all applicable foreign,
federal and state laws, rules and regulations) applicable to the Company or any of its subsidiaries or by which any property or
asset of the Company or any of its subsidiaries is bound or affected. 

 

(d)
Affirmation of Prior Reps and Warranties. The Company represents and warrants that the applicable representations and warranties
made by the Company pursuant to that certain placement agency agreement, dated March 7, 2017, remain true and correct as of the
date hereof.

 

4.
COVENANTS.

 

(a)
Listing. The Company shall promptly secure the listing or designation for quotation (as the case may be) of all of the
Conversion Shares upon each national securities exchange and automated quotation system, if any, upon which the Common Stock is
then listed or designated for quotation (as the case may be) (subject to official notice of issuance) and shall maintain such
listing or designation for quotation (as the case may be) of all Conversion Shares from time to time issuable under the terms
of this Agreement on such national securities exchange or automated quotation system.

 

    	4

    	 

    

 

(b)
Pledge of Securities. Notwithstanding anything to the contrary contained in this Agreement, the Company acknowledges and
agrees that the Securities may be pledged by an Investor in connection with a bona fide margin agreement or other loan or financing
arrangement that is secured by the Securities. The pledge of Securities shall not be deemed to be a transfer, sale or assignment
of the Securities hereunder, and no Investor effecting a pledge of Securities shall be required to provide the Company with any
notice thereof or otherwise make any delivery to the Company pursuant to this Agreement. The Company hereby agrees to execute
and deliver such documentation as a pledgee of the Securities may reasonably request in connection with a pledge of the Securities
to such pledgee by an Investor. 

 

(c)
Reservation of Shares. So long as any of the shares of Preferred Stock remain outstanding, the Company shall take all action
necessary to at all times have authorized, and reserved for the purpose of issuance, no less than the sum of 100% of the maximum
number of shares of Common Stock issuable upon conversion of all the shares of Preferred Stock then outstanding (assuming for
purposes hereof that all of the shares of Preferred Stock have been exercised in full, (y) the shares of Preferred Stock are convertible
at a conversion price equal to the Alternate Conversion Price (as defined in the Certificate of Designations), and (z) any such
conversion shall not take into account any limitations on the conversion of the shares of Preferred Stock set forth in the Certificate
of Designations). 

 

(d)
Conversion and Exercise Procedures. The form of Conversion Notice (as defined in the Certificate of Designations) included
in the Certificate of Designations set forth the totality of the procedures required of Maxim in order to convert the Preferred
Stock into shares of Common Stock. No legal opinion, other information or instructions shall be required of Maxim to convert their
Preferred Shares, respectively. The Company shall honor conversions of the Preferred Shares and shall deliver the Conversion Shares
in accordance with the terms, conditions and time periods set forth in the Certificate of Designations.

 

(e)
Regulation M. The Company will not take any action prohibited by Regulation M under the 1934 Act, in connection with the
distribution of the Securities contemplated hereby. 

 

5.
REGISTER; TRANSFER AGENT INSTRUCTIONS; LEGEND.

 

(a)
Register. The Company shall maintain at its principal executive offices (or such other office or agency of the Company
as it may designate by notice to each holder of Securities), a register for the shares of Preferred Stock and Conversion Shares
in which the Company shall record the name and address of the person in whose name the shares of Preferred Stock and Conversion
Shares have been issued (including the name and address of each transferee), the aggregate number of shares of Preferred Stock
and the number of Conversion Shares issuable pursuant to the terms of the Certificate of Designations with respect to the shares
of Preferred Stock held by such Person. The Company shall keep the register open and available at all times during business hours
for inspection of any Maxim or its legal representatives. 

 

    	5

    	 

    

 

(b)
Transfer Agent Instructions. The Company shall issue irrevocable instructions to its Transfer Agent and any subsequent
transfer agent in a form acceptable to Maxim (the “Irrevocable Transfer Agent Instructions”) to issue certificates
or credit shares to the applicable balance accounts at DTC, registered in the name of Maxim or its respective nominee(s), for
the (i) shares of Preferred Stock; and (ii) Conversion Shares in such amounts as specified from time to time by Maxim to the Company
upon conversion of the Preferred Stock into shares of Common Stock. The Company represents and warrants that no instruction other
than the Irrevocable Transfer Agent Instructions referred to in this Section 5(b) will be given by the Company to its transfer
agent with respect to the Securities, and that the Securities shall otherwise be freely transferable on the books and records
of the Company, as applicable, to the extent provided in this Agreement. If Maxim effects a sale, assignment or transfer of the
Conversion Shares, the Company shall permit the transfer and shall promptly instruct its transfer agent to issue one or more certificates
or credit shares to the applicable balance accounts at DTC in such name and in such denominations as specified by Maxim to effect
such sale, transfer or assignment. All Securities shall be issued without any restrictive legend in accordance with Section 5(c)
below. The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to Maxim. Accordingly,
the Company acknowledges that the remedy at law for a breach of its obligations under this Section 5(b) will be inadequate and
agrees, in the event of a breach or threatened breach by the Company of the provisions of this Section 5(b), that Maxim shall
be entitled, in addition to all other available remedies, to an order and/or injunction restraining any breach and requiring immediate
issuance and transfer, without the necessity of showing economic loss and without any bond or other security being required. The
Company shall cause its counsel to issue the legal opinion referred to in the Irrevocable Transfer Agent Instructions to the Company’s
transfer agent upon each conversion of shares of the Preferred Stock (unless such issuance covered by a prior legal opinion previously
delivered to the Transfer Agent), and (ii) on each date a registration statement with respect to the issuance or resale of any
of the Securities is declared effective by the SEC. Any fees (with respect to the transfer agent, counsel to the Company or otherwise)
associated with the issuance of such opinion or the removal of any legends on any of the Securities shall be borne by the Company. 

 

(c)
Legends. Certificates and any other instruments evidencing the Securities shall not bear any restrictive or other legend.

 

(d)
FAST Compliance. While any shares of Preferred Stock remain outstanding, the Company shall maintain a transfer agent that
participates in the DTC Fast Automated Securities Transfer Program.

 

6.
MISCELLANEOUS.

 

(a)
Governing Law; Jurisdiction; Jury Trial. All questions concerning the construction, validity, enforcement and interpretation
of this Agreement shall be governed by the internal laws of the State of New York, without giving effect to any choice of law
or conflict of law provision or rule (whether of the State of New York or any other jurisdictions) that would cause the application
of the laws of any jurisdictions other than the State of New York. The Company hereby irrevocably submits to the exclusive jurisdiction
of the state and federal courts sitting in The City of New York, Borough of Manhattan, for the adjudication of any dispute hereunder
or in connection herewith or with any transaction contemplated hereby, and hereby irrevocably waives, and agrees not to assert
in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such
suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper.
Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action
or proceeding by mailing a copy thereof to such party at the address for such notices to it under this Agreement and agrees that
such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed
to limit in any way any right to serve process in any manner permitted by law. Nothing contained herein shall be deemed or operate
to preclude Maxim from bringing suit or taking other legal action against the Company in any other jurisdiction to collect on
the Company’s obligations to Maxim or to enforce a judgment or other court ruling in favor of Maxim. EACH PARTY HEREBY
IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER
OR IN CONNECTION WITH OR ARISING OUT OF THIS AGREEMENT, OR ANY TRANSACTION CONTEMPLATED HEREBY. 

 

    	6

    	 

    

 

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

 

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

 

(d)
Severability. If any provision of this Agreement is prohibited by law or otherwise determined to be invalid or unenforceable
by a court of competent jurisdiction, the provision that would otherwise be prohibited, invalid or unenforceable shall be deemed
amended to apply to the broadest extent that it would be valid and enforceable, and the invalidity or unenforceability of such
provision shall not affect the validity of the remaining provisions of this Agreement so long as this Agreement as so modified
continues to express, without material change, the original intentions of the parties as to the subject matter hereof and the
prohibited nature, invalidity or unenforceability of the provision(s) in question does not substantially impair the respective
expectations or reciprocal obligations of the parties or the practical realization of the benefits that would otherwise be conferred
upon the parties. The parties will endeavor in good faith negotiations to replace the prohibited, invalid or unenforceable provision(s)
with a valid provision(s), the effect of which comes as close as possible to that of the prohibited, invalid or unenforceable
provision(s). 

 

(e)
Entire Agreement; Amendments. Except as set forth in Section 3(d) hereof, this Agreement supersedes all other prior oral
or written agreements between Maxim and the Company contains the entire understanding of the parties solely with respect to the
matters covered herein. For clarification purposes, the Recitals are part of this Agreement and the Engagement Agreement remains
in full force and effect. No provision of this Agreement may be amended or waived other than by an instrument in writing signed
by the Company and Maxim. 

 

    	7

    	 

    

 

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

 

If
to the Company:

 

MagneGas
Corporation

11885 44th St. N.

Clearwater, FL 33762

Telephone: (727) 934-3448

Facsimile: (727) 290-4941

Attention: Chief Financial Officer

E-Mail: scottmahoney@magnegas.com

 

If
to the Transfer Agent:

 

Corporate
Stock Transfer, Inc.

3200 Cherry Creek Drive South, #430

Denver, CO 80209

Telephone: (303) 282-4800

Facsimile: (303) 282-5800

Attention: Karen Naughton

E-Mail: knaughton@corporatestock.com

 

If
to Maxim:

 

Maxim
Group, LLC

405 Lexington Avenue, 2nd Floor

New York, New York 10174

Attn: James Siegel, General Counsel

 

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

 

    	8

    	 

    

 

(g)
Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their respective
successors and assigns, including any purchasers of any of shares of Preferred Stock. The Company shall not assign this Agreement
or any rights or obligations hereunder without the prior written consent of Maxim. Maxim may assign some or all of its rights
hereunder in connection with any transfer of any of its Securities without the consent of the Company, in which event such assignee
shall be deemed to be Maxim hereunder with respect to such assigned rights. 

 

(h)
No Third Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective permitted
successors and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other Person, other than
the Indemnitees referred to in Section. 

 

(i)
Survival. The representations, warranties, agreements and covenants shall survive the Closing. Maxim shall be responsible
only for its own representations, warranties, agreements and covenants hereunder. 

 

(j)
Further Assurances. Each party shall do and perform, or cause to be done and performed, all such further acts and things,
and shall execute and deliver all such other agreements, certificates, instruments and documents, as any other party may reasonably
request in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions
contemplated hereby. 

 

(k)
Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to express their
mutual intent, and no rules of strict construction will be applied against any party. No specific representation or warranty shall
limit the generality or applicability of a more general representation or warranty. Each and every reference to share prices,
shares of Common Stock and any other numbers in this Agreement that relate to the Common Stock shall be automatically adjusted
for any stock splits, stock dividends, stock combinations, recapitalizations or other similar transactions that occur with respect
to the Common Stock after the date of this Agreement. 

 

(l)
Remedies. Maxim and in the event of assignment by Maxim of its rights and obligations hereunder, each holder of Securities,
shall have all rights and remedies set forth in this Agreement and all rights and remedies which such holders have been granted
at any time under any other agreement or contract and all of the rights which such holders have under any law. Any person having
any rights under any provision of this Agreement shall be entitled to enforce such rights specifically (without posting a bond
or other security), to recover damages by reason of any breach of any provision of this Agreement and to exercise all other rights
granted by law. Furthermore, the Company recognizes that in the event that it fails to perform, observe, or discharge any or all
of its obligations under this Agreement, any remedy at law would inadequate relief to Maxim. The Company therefore agrees that
Maxim shall be entitled to specific performance and/or temporary, preliminary and permanent injunctive or other equitable relief
from any court of competent jurisdiction in any such case without the necessity of proving actual damages and without posting
a bond or other security. The remedies provided in this Agreement shall be cumulative and in addition to all other remedies available
under this Agreement, at law or in equity (including a decree of specific performance and/or other injunctive relief). 

 

    	9

    	 

    

 

IN
WITNESS WHEREOF, Maxim and the Company have caused their respective signature page to this Agreement to be duly executed as
of the date first written above.

 

	 	COMPANY:
	 	 	 
	 	MAGNEGAS CORPORATION
	 	 	 
	 	By:	/s/Ermanno
    Santilli 
	 	Name:	Ermanno
    Santilli
	 	Title:	Chief
    Executive Officer

 

    	10

    	 

    

 

IN
WITNESS WHEREOF, Maxim and the Company have caused their respective signature page to this Agreement to be duly executed as
of the date first written above.

 

	 	MAXIM GROUP, LLC
	 	 	               
	 	By:	/s/ Clifford                                          A. Teller

	 	Name:	Clifford
    A. Teller
	 	Title:	Executive
    Managing Director, Head of Investment Banking

 

    	11

    	 

    

 

Exhibit
A

Certificate
of Designations – Series F Convertible Preferred Stock

 

    	 	12

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