Document:

Exhibit
10.28 

 

 

INVESTMENT
BANKING AGREEMENT

 

This
Agreement (the “Agreement”) is made as of the 28th day of September 2018 by and between SQL Technologies Corp., a
Florida corporation with its principal office at 2855 W. McNab Road, Pompano Beach, Florida 33069 (“Client” or ‘‘Company’’)
and Newbridge Securities Corporation (“NSC”).

 

WHEREAS,
Client desires for NSC to assist it with business development, consulting and advisory services, including, when applicable, capital
raising and placement agency services (collectively, the “Services”) and NSC agrees to assist Client under the terms of
this Agreement.

 

NOW
THEREFORE, in consideration of the premises and for other good and valuable consideration, receipt and sufficiency of which is acknowledged
by the parties, it is agreed:

 

1.
Client will not make any contact with, initiate any contact with, communicate with, deal with or cause another to be involved in any
transaction(s) with any person, entity, association, banking or lending institution, trust, corporation, company or individual, lender
or borrower, buyer or seller of any third party which is located, identified or introduced by NSC to the Client (the “NSC Party”)
without first obtaining express, specific and written consent of NSC. Client shall also keep the names and contact information for any
such introduced parties strictly confidential, except as may be required by law.

 

2. This
Agreement shall apply to any and all Services and transactions, including but not limited to, any subsequent follow-ups, repeat, extended
or re-negotiated Services or transactions. The parties hereby agree and confirm that the identities of the banks, lending institutions,
corporations, individuals, trusts, lenders or borrowers, buyers or seller, or any other third parties identified, located or introduced
are currently and in the future the exclusive and sole property of the introducing, identifying or locating party.

 

3.
In conjunction with the performance of the Services or consummating a transaction, NSC agrees to:

 

	 	i.	Make
  itself available to the Client for phone conferences during normal business hours for reasonable periods of time, subject to reasonable
  advance notice and mutually convenient scheduling, for the purpose of advising the Client with regard to the Services to be performed
  and the preparation of such reports, summaries, corporate profiles, due diligence packages and/or other material and documentation
  as shall be necessary to properly present the Client to individuals and/or entities that could be a benefit to the Client.

 

    	 

     

    

 

	 	ii.	Advise
  the Client in evaluating any proposals received from potential investors, lenders, strategic partners and other interested parties,
  including potential licensees. NSC may be involved in negotiating with these parties on behalf of the Client.

 

	 	iii.	In
  connection with NSC providing the Services, the Client agrees to keep NSC up to date and apprised of all business, market and legal
  developments related to the Company and its operations and management. NSC shall devote such time and effort, as it deems commercially
  reasonable.

 

	 	iv.	The
  Client shall provide to NSC copies of the Company’s Business Plan, Offering documentation, PowerPoint Presentation and such other
  collateral materials necessary for NSC’s performance hereunder. The Client shall also make available certain of its employees
  for the purposes of presentations and meetings. NSC acknowledges and agrees that the Company’s Business Plan, offering documents,
  PowerPoint Presentation and other collateral materials to which NSC may have access to during the performance of this Agreement are
  confidential information and as such, shall not be distributed to third parties unless authorized by the Client.

 

4.
For NSC’s Services hereunder, the Client agrees to pay NSC the fees and other consideration outlined below, for Services rendered
or upon closing of one or several transactions (in each instance, a “Closing”):

 

(a)
Consulting/Advisory Fees.

 

Upon
execution of this Agreement, the Client shall: (i) pay to NCS a non-refundable $25,000 consulting/ advisory fee (the “Cash Consulting
Fee”), payable by wire transfer in immediately available funds (which, at Client’s option, may be paid in two equal installments
of $12,500, payable on the execution date of this Agreement and 60 days thereafter); and, (ii) 30 days after signing client shall issue
$50,000 worth of common shares in SQL Technologies Inc. to NSC and its permitted assigns (the “Equity Consulting Fee”),
which shall be held in escrow in attorney account paid for by NSC pending receipt by the attorney of Client’s written instructions
to release the common shares to NSC at the end of Term (as defined below) for NSC’s acceptable performance of its Services. The
number of common shares shall be determined by using a common share price equal to the last issuance of equity, warrants, or options
prior to the execution of this Agreement.

 

    	 

     

    

 

(b)
Placement Agent Fees.

 

i.
a placement fee equal to eight percent (8.0%) of the gross purchase price paid for the Client’s equity securities (“Securities”),
payable in full, in cash, at a Closing for the sale of any Securities.

 

ii.
a placement fee equal to four percent (4.0%) on any line of credit, secured or unsecured term loan or other type of non-convertible debt
facility (“Debt”) arranged for the Client, payable in full, in cash, at a Closing for any Debt transaction.

 

(c)
Warrants:

 

At
the Closing of each transaction involving Securities or Debt, the Client shall issue to NSC, or its permitted assigns, warrants (the
“PA Warrants”), as follows:

 

i.
to purchase that number of shares of common stock of the Company equal to ten percent (10%) of the sum of (i) the number of shares of
common stock of the Company issued in a Securities transaction and/ or (ii) the number of shares of common stock issuable by the Company
upon exercise or conversion of any and all convertible securities issued at each such Closing (including, but not limited to, all convertible
promissory notes, convertible preferred stock and all series of warrants).

 

ii.
In the case of a transaction involving the Closing for a Debt facility, the number of PA Warrants to be issued shall equal ten percent
(10%) of the facility amount divided by a per share price equal to the last equity, warrant or options issued by the Company at the time
of Closing of a Debt facility.

 

iii.
The PA Warrants shall provide for cashless exercise, shall have full ratchet price protection, shall not be callable or redeemable by
the Company, shall provide for piggy-back registration rights, shall be transferable by NSC to its representatives and agents at Closing,
and, except as set forth above, otherwise have the same terms and conditions of the warrants issued to the Investors. 

 

(d)
An escrow account with a third-party agent approved by the parties hereto will be used for each closing during the Term. All consideration
due NSC shall be paid to NSC directly from such escrow. Any fee charged by the escrow agent in the performance of its duties as escrow
agent shall be borne by the Client.

 

    	 

     

    

 

(e)
With respect to franchise agreements, territorial licenses, marketing agreements, commercial contracts, customer agreements, channel
partners or other similar business arrangements whereby the Client receives payment(s), licensing and/or revenue with respect to its
products/applications representing a transaction with a NSC Party, or a transaction where the Client has asked NSC to assist in
Closing, the Client shall pay to NSC a sales commission (“Commissions”) on gross revenues as follows:

 

i.
For transactions involving an NSC Party: a non-refundable cash fee of $75,000 payable at Closing, plus 1% of the net revenues received
by the Client (after deducting direct expenses), payable quarterly in arrears during the life of the contract.

 

ii.
For transactions where NSC has been called to assist the Client on a particular situation: a non-refundable cash fee of $50,000 payable
at Closing, plus 0.25% of the net revenues received by the Client (after deducting direct expenses), payable quarterly in arrears, for
a period not to exceed five years or the life of the contract.

 

Both
the Client and NSC agree to the above commission structure to provide the foundation for compensation to NSC for revenue generating franchise
agreements, marketing agreements, territorial and other types of licensing agreements, commercial contracts, customer agreements, channel
partners or other business arrangements. The Client and NSC agree in good faith to negotiate an adjusted Commission structure for each
net new agreement or revenue opportunity in which incremental material support costs, and/or infrastructure costs are required by the
Corporation to support the net new revenue opportunity.

 

5.
NSC shall be entitled to the compensation as set forth in this Agreement for any consulting/placement agent work related to any Transaction
(as defined below) that occurs at any time during the Term of this Agreement and the twenty-four (24) month period following the termination
or expiration of this Agreement. “Transaction” shall mean any situation described in Sections 3 (b) and 3(e), or any form
of investment or loan from a person or entity if (a) such purchaser(s) or lender(s) (or affiliate thereof), were introduced by NSC or
the Client concerning the Transaction during the Term, (b) the Client or NSC had discussions with such purchaser(s) or lender(s) (or
affiliates thereof) concerning the Transaction during the Term, or (c) the Client used materials or work product prepared by NSC in connection
with such subsequent investment or (d) NSC can prove through records or documentation that it introduced such purchaser(s) or lender(s)
with specific information about the Client of the Transaction or NSC can prove it held an in person, electronic or telephonic meeting
with the Client. All compensation shall be paid to NSC on the date that the Client closes on the Transaction.

 

6.
This Agreement shall terminate on the 120th day following the execution thereof, subject to the extension thereafter as may
be agreed in writing by the parties (as may be extended, the “Term”); provided, this Agreement may be terminated prior to
expiration of the Term, by NSC or the Client for any reason at any time upon thirty (30) days prior written notice. In the event of termination,
NSC shall be immediately paid in full on all items of compensation and expenses payable to NSC pursuant hereto, as of the date of termination.

 

    	 

     

    

 

7.
No effort shall be made to circumvent this Agreement or the terms hereto in an effort to gain fees, commissions, remuneration, or consideration
to the benefit of one party to this agreement or to exclude the other party to this agreement from such a benefit. The parties shall
fully disclose to one another any and all business dealings, arrangement for fees, commissions, remuneration or other consideration which
exist or may exist between any other identified, located, or introduced third parties and one or more of the parties to this agreement.

 

8.
The Client hereby agrees that all fees paid under this Agreement, are exclusive of any reasonable out of pocket travel, hotel and meal
expenses that will be incurred by the members of NSC pursuant to providing the Services. The Client and NSC further agree that prior
to any air travel by an NSC member, NSC will notify the Client of the purpose of the travel and the estimated air travel and hotel expenses
to be incurred and the Client will either pay such expenses for such member or notify NSC that the expenses are not authorized. The Company
will reimburse any reasonable out-of-pocket expenses incurred by an NSC member in relation to such travel within fifteen (15) days of
being Invoiced by NSC for such expenses.

 

9.
This Agreement shall be binding upon the assigns, successors in interest, personal representative, estates, heirs, and legatees or each
of the parties hereto; provided that neither this Agreement nor any interest herein shall be assignable to either party without
the prior written consent of the other party.

 

10.
This Agreement shall be governed by the laws of the State of Florida, without regard for conflicts of laws principles. The remedy at
law for breach of this agreement being inadequate, the parties shall be entitled to, in addition to such other remedies as they may have,
temporarily or injunctive relief for any breach or threatened breach of this agreement, without the obligation of posting a bond.

 

11.
This Agreement contains the entire agreement of the parties hereto and supersedes any prior written or oral agreements between them concerning
the subject matter contained herein. The waiver by any provision of this Agreement shall not operate as or be construed as a waiver of
any subsequent breach thereof. If any provision of this agreement is held to be unenforceable such determination shall not affect the
validity of the remaining portions of this agreement.

 

If
the foregoing correctly sets forth the understanding between NSC and the Client, please so indicate in the space provided below for that
purpose within ten (10) days of the date hereof or this Agreement shall be withdrawn and become null and void. The undersigned parties
hereto have caused this Agreement to be duly executed by their authorized representatives, pursuant to corporate board approval and intend
to be legally bound.

 

    	 

     

    

 

Agreed
to and accepted this 3rd day of October, 2018

 

SQL
TECHNOLOGIES CORP.

 

	By:	/s/
    John Campi	 
	 	John
    Campi, Chief Executive Officer	 

 

NEWBRIDGE
SECURITIES CORPORATION

 

	By:	/s/
    Bruce Jordan 10-3-18	 
		Bruce
    Jordan, Managing Director-Investment Banking	 

 

    	 

     

    

 

Amendment
to Placement Agent Agreement

 

January
30, 2019

 

Mr.
John Campi, CEO

SQL Technologies Corp

2855 w. McNab Rd.

Pompano
Beach, FL 33069

 

Dear
Mr. Campi

 

The
purpose of this letter (“IB Agreement Amendment”) is to amend the Investment Banking Agreement (the “Agreement”)
between SQL Technologies Corp (the “Company”) and Newbridge Securities Corporation (“Broker Dealer” or
“NSC”), dated September 28, 2018 and signed October 3, 2018 pursuant to which, a change in the Agreement has now been
requested by ), the Company and NSC acting as a consultant, advisor, business developer and placement agent in connection with the Agreement
has agreed to this change and in consideration of this demands the following amendment to the Agreement.

 

The
parties hereto agree as follows: 

 

	 	1.	As
    per Section 6 of the Agreement, the term will be extended to May 31, 2019.
	 	 	 
	 	2.	As
    per Section 4 or the Agreement, added as 4(f), “For an investor introduced by the Company, the compensation to NSC shall be
    50% of the then applicable fees for an NSC introduced investor or, if a third party introduces the investor to the Company, the fee
    to NSC shall be mutually agreed upon by the Company and NSC.”

 

All
other components of the Agreement shall remain in place as written.

 

If
the foregoing correctly sets forth the agreement and understanding between the Company and NSC, please execute as indicated herein below
for that purpose within two (2) business days as a condition of the Agreement. The undersigned parties hereto have caused this Agreement
Amendment to be duly executed by their authorized representatives pursuant to applicable board approval or other requisite authority
and intend to be legally bound hereby.

 

All
other terms, conditions, provisions and guidelines contained in the Agreement and any other IB Amendments, remain in full force and effect.

 

	Sincerely,	 
	Newbridge
    Securities Corporation	 
	 	 	 
	By:	/s/
    Bruce Jordan	 
	 	Bruce
    Jordan, Managing Director of Investment Banking	 
	 	 	 
	AGREED
    TO AND ACCEPTED	 
	THIS
    _____ Day of January, 2019	 
	 	 	 
	SQL
    Technologies Corp.	 
	 	 	 
	By:	/s/
    John Campi	 
	 	John
    Campi, CEO 	 

 

    	 

     

    

 

Amendment
#2 to Placement Agent Agreement

 

May
24, 2019

 

Mr.
John Campi, CEO

SQL Technologies Corp

2855 W. McNab Rd.

Pompano
Beach, FL 33069

 

Dear
Mr. Campi:

 

The
purpose of this letter (“IB Agreement Amendment”) is to amend the Investment Banking Agreement (the “Agreement”)
between SQL Technologies Corp (the “Company”) and Newbridge Securities Corporation (“Broker Dealer” or
“NSC”), dated September 28, 2018 and signed October 3, 2018 pursuant to which, a change in the Agreement has now been
requested by, the Company and NSC acting as a consultant, advisor, business developer and placement agent in connection with the Agreement
has agreed to this change and in consideration of this demands the following amendment to the Agreement.

 

The
parties hereto agree as follows: 

 

	 	1.	As
    per Section 6 of the Agreement, the term will be extended to July 31, 2019.

 

All
other components of the Agreement shall remain in place as written.

 

If
the foregoing correctly sets forth the agreement and understanding between the Company and NSC, please execute as indicated herein below
for that purpose within two (2) business days as a condition of the Agreement. The undersigned parties hereto have caused this Agreement
Amendment to be duly executed by their authorized representatives pursuant to applicable board approval or other requisite authority
and intend to be legally bound hereby,

 

All
other terms, conditions, provisions and guidelines contained in the Agreement and any other IB Amendments, remain in full force and effect.

 

	Sincerely,	 
	Newbridge
    Securities Corporation	 
	 	 	 
	By:	/s/
    Bruce Jordan	 
	 	Bruce
    Jordan, Managing Director of Investment Banking	 
	 	 	 
	AGREED
    TO AND ACCEPTED	 
	THIS
    _____ Day of May, 2019	 
	 	 	 
	SQL
    Technologies Corp.	 
	 	 	 
	By:	/s/
    John Campi	 
	 	John
    Campi, CEO 	 

 

    	 

     

    

 

Amendment
#3 to Placement Agent Agreement

 

July
12, 2019

 

Mr.
John Campi, CEO

SQL Technologies Corp

2855 W. McNab Rd.

Pompano
Beach, FL 33069

 

Dear
Mr. Campi:

 

The
purpose of this letter (“IB Agreement Amendment”) is to amend the Investment Banking Agreement (the “Agreement”)
between SQL Technologies Corp (the “Company”) and Newbridge Securities Corporation (“Broker Dealer” or
“NSC”), dated September 28, 2018 and signed October 3, 2018 pursuant to which, a change in the Agreement has now been
requested by, the Company and NSC acting as a consultant, advisor, business developer and placement agent in connection with the Agreement
has agreed to this change and in consideration of this demands the following amendment to the Agreement.

 

The
parties hereto agree as follows: 

 

	 	1.	As
    per Section 6 of the Agreement, the term will be extended to September 30, 2019. 

 

All
other components of the Agreement shall remain in place as written.

 

If
the foregoing correctly sets forth the agreement and understanding between the Company and NSC, please execute as indicated herein below
for that purpose within two (2) business days as a condition of the Agreement. The undersigned parties hereto have caused this Agreement
Amendment to be duly executed by their authorized representatives pursuant to applicable board approval or other requisite authority
and intend to be legally bound hereby.

 

All
other terms, conditions, provisions and guidelines contained in the Agreement and any other IB Amendments, remain in full force and effect.

 

	Sincerely,	 
	Newbridge
    Securities Corporation	 
	 	 	 
	By:	/s/
    Bruce Jordan	 
	 	Bruce
    Jordan, Managing Director of Investment Banking	 
	 	 	 
	AGREED
    TO AND ACCEPTED	 
	THIS
    _____ Day of July, 2019	 
	 	 	 
	SQL
    Technologies Corp.	 
	 	 	 
	By:	/s/
    John Campi	 
	 	John
    Campi, CEO 	 

 

    	 

     

    

 

Amendment
#4 to Placement Agent Agreement

 

August
9, 2019

 

Mr.
John Campi, CEO

SQL Technologies Corp.

2855 W. McNab Rd.

Pompano
Beach, FL 33069

 

Dear
Mr. Campi:

 

The
purpose of this letter (“Agreement Amendment”) is to amend the Investment Banking Agreement (the “Agreement”)
between SQL Technologies Corp (the “Company”) and Newbridge Securities Corporation (“Broker Dealer” or “NSC”),
dated September 28, 2018 and signed October 3, 2018 pursuant to which a change in the Agreement had now been requested by the Company
and NSC acting as a consultant, advisor, business developer and placement agent in connection with the Agreement has agreed to this change
and in consideration of this demands the following amendment to the Agreement.

 

The
parties hereto agree as follows: 

 

	 	1.	As
    per Section 6 of the Agreement, the term will be extended to October 31, 2019. 

 

All
other components of the Agreement shall remain in place as written.

 

If
the foregoing correctly sets forth the agreement and understanding between the company and NSC, please execute as indicated herein below
for the purpose within two (2) business days as a condition of the Agreement. The undersigned parties hereto have caused this Agreement
Amendment to be duly executed by their authorized representatives pursuant to applicable board approval or other requisite authority
and intend to be legally bound hereby.

 

All
other terms, conditions, provisions and guidelines contained in the Agreement and any other Amendments, remain in full force and effect.

 

	Sincerely,	 
	Newbridge
    Securities Corporation	 
	 	 	 
	By:	/s/
    Bruce Jordan	 
	 	Bruce
    Jordan, Managing Director of Investment Banking	 
	 	 	 
	Agreed
    to and Accepted	 
	This
    _____ Day of August, 2019	 
	 	 	 
	SQL
    Technologies Corp.	 
	 	 	 
	By:	/s/
    John Campi	 
	 	John
    Campi, CEO 	 

 

    	 

     

    

 

Amendment
#5 to Placement Agent Agreement

 

October
16, 2019

 

Mr.
John Campi, CEO

SQL Technologies Corp.

2855 W McNab Rd.

Pompano
Beach, FL 33069

 

Dear
Mr. Campi:

 

The
purpose of this letter (“Agreement Amendment”) is to amend the Investment Banking Agreement (the “Agreement”)
between SQL Technologies Corp (the “Company”) and Newbridge Securities Corporation (“Broker Dealer” or “NSC”),
dated September 28, 2018 and signed October 3, 2018 pursuant to which a change in the Agreement had now been requested by the Company
and NSC acting as a consultant, advisor, business developer and placement agent in connection with the Agreement has agreed to this change
and in consideration of this demands the following amendment to the Agreement.

 

The
parties hereto agree as follows: 

 

	 	1.	As
    per Section 6 of the Agreement, the term will be extended to December 31, 2019.

 

All
other components of the Agreement shall remain in place as written.

 

If
the foregoing correctly sets forth the agreement and understanding between the company and NSC, please execute as indicated herein below
for the purpose with in two (2) business days as a condition of the Agreement. The undersigned parties hereto have caused this Agreement
Amendment to be duly executed by their authorized representatives pursuant to applicable board approval or other requisite authority
and intend to be legally bound hereby.

 

All
other terms, conditions, provisions and guidelines contained in the Agreement and any other Amendments, remain in full force and effect.

 

	Sincerely,	 
	Newbridge
    Securities Corporation	 
	 	 	 
	By:
    	/s/
    Robert Abrams	 
	 	Robert
    Abrams, General Counsel and Director of Compliance	 
	 	 	 
	Agreed
    to and Accepted	 
	This
    ______Day of October, 2019 	 
	 	 	 
	SQL
    Technologies Corp.	 
	 	 	 
	By:
    	/s/
    John Campi	 
	 	John
    Campi, CEO	 

 

    	 

     

    

 

Amendment
#6 to Placement Agent Agreement

 

December
23, 2019

 

Mr.
John Campi, CEO

SQL
Technologies Corp.

2855
W McNab Rd.

Pompano
Beach, FL 33069

 

Dear
Mr. Campi:

 

The
purpose of this letter (“Agreement Amendment”) is to amend the Investment Banking Agreement (the “Agreement”)
between SQL Technologies Corp (the “Company”) and Newbridge Securities Corporation (“Broker Dealer” or “NSC”),
dated September 28, 2018 and signed October 3, 2018 pursuant to which a change in the Agreement had now been requested by the Company
and NSC acting as a consultant, advisor, business developer and placement agent in connection with the Agreement has agreed to this change
and in consideration of this demands the following amendment to the Agreement.

 

The
parties hereto agree as follows: 

 

	 	1.	As
    per Section 6 of the Agreement, the term will be extended to January 31, 2020. 

 

All
other components of the Agreement shall remain in place as written.

 

If
the foregoing correctly sets forth the agreement and understanding between the company and NSC, please execute as indicated herein below
for the purpose with in two (2) business days as a condition of the Agreement. The undersigned parties hereto have caused this Agreement
Amendment to be duly executed by their authorized representatives pursuant to applicable board approval or other requisite authority
and intend to be legally bound hereby.

 

All
other terms, conditions, provisions and guidelines contained in the Agreement and any other Amendments, remain in full force and effect.

 

	Sincerely,
    	 
	Newbridge
    Securities Corporation	 
	 	 	 
	By:	/s/
    G. Robert Abrams	 
	 	G.
    Robert Abrams, General Counsel and Director of Compliance	 
	 	 	 
	Agreed
    to and Accepted	 
	This
    30th Day of December, 2019	 
	 	 	 
	SQL
    Technologies Corp. 	 
	 	 	 
	By:	/s/
    John Campi	 
	 	John
    Campi, CEO 	 

 

    	 

     

    

 

Amendment
#7 to Placement Agent Agreement

 

September
2, 2021

 

Mr.
John Campi, CEO

SQL
Technologies Corp.

2855
W McNab Rd.

Pompano
Beach, FL 33069

 

Dear
Mr. Campi:

 

The
purpose of this letter (“Agreement Amendment”) is to amend the Investment Banking Agreement (the “Agreement”)
between SQL Technologies Corp (the “Company”) and Newbridge Securities Corporation (“Broker Dealer” or “NSC”),
dated September 28, 2018 and signed October 3, 2018 pursuant to which a change in the Agreement had now been requested by the Company
and NSC acting as a consultant, advisor, business developer and placement agent in connection with the Agreement has agreed to this change
and in consideration of this demands the following amendment to the Agreement.

 

The
parties hereto agree as follows:

 

	 	1.	As
    per Section 6 of the Agreement, the term will be extended to December 31, 2021.

 

All
other components of the Agreement shall remain in place as written.

 

If
the foregoing correctly sets forth the agreement and understanding between the company and NSC, please execute as indicated herein below
for the purpose with in two (2) business days as a condition of the Agreement. The undersigned parties hereto have caused this Agreement
Amendment to be duly executed by their authorized representatives pursuant to applicable board approval or other requisite authority
and intend to be legally bound hereby.

 

All
other terms, conditions, provisions, and guidelines contained in the Agreement and any other Amendments, remain in full force and effect.

 

	Sincerely,	 
	Newbridge
    Securities Corporation	 
	 	 	 
	By:	/s/
    G. Robert Abrams	 
	 	G.
    Robert Abrams, General Counsel and Director of Compliance	 
	 	 	 
	Agreed
    to and Accepted 	 
	This
    ______Day of September, 2021	 
	 	 	 
	SQL
    Technologies Corp.	 
	 	 	 
	By:	/s/
    John Campi	 
	 	John
    Campi, CEOExhibit 10.29 

 

NEITHER
THIS WARRANT NOR THE SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE “SECURITIES ACT”), OR QUALIFIED UNDER APPLICABLE STATE SECURITIES LAWS AND MAY ONLY BE ACQUIRED FOR INVESTMENT PURPOSES
ONLY AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. THIS WARRANT AND THE SECURITIES ISSUABLE UPON THE
EXERCISE OF THIS WARRANT, IF ANY, MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION
STATEMENT AS TO SUCH SECURITIES UNDER THE SECURITIES ACT AND QUALIFICATION UNDER APPLICABLE STATE LAW WITHOUT AN OPINION OF COUNSEL SATISFACTORY
TO THE COMPANY THAT SUCH REGISTRATION AND QUALIFICATION ARE NOT REQUIRED UNDER THE SECURITIES ACT OR RECEIPT OF A NO-ACTION LETTER FROM
THE SECURITIES AND EXCHANGE COMMISSION.

 

COMMON
STOCK PURCHASE WARRANT

 

To
Purchase [____] Shares of Common Stock of

 

SQL
Technologies Corp.

 

 [_______]
 (the “Issuance Date”)

 

THIS
COMMON STOCK PURCHASE WARRANT (the “Warrant”) CERTIFIES that, for value received, [____] (the “Holder”),
is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after
the date of this Warrant and on or prior to the third anniversary of the date of this Warrant (the “Termination Date”)
but not thereafter, to subscribe for and purchase from SQL Technologies Corp., a Florida corporation (the “Company”),
up to [___] shares (the “Warrant Shares”) of the Common Stock, no par value per share, of the Company (the “Common
Stock”). The purchase price of one share of Common Stock (the “Exercise Price”) under this Warrant shall
be US $12.00 (twelve dollars US).

 

The
Exercise Price and the number of Warrant Shares for which the Warrant is exercisable shall be subject to adjustment as provided herein.

 

1.
Title to Warrant. Prior to the Termination Date and subject to compliance with applicable laws, including transfer restrictions
imposed by applicable securities laws, and Section 7 of this Warrant, this Warrant and all rights hereunder are transferable, in whole
or in part, at the office or agency of the Company by the Holder in person or by duly authorized attorney, upon surrender of this Warrant
together with the Assignment Form annexed hereto properly endorsed. The transferee shall sign an investment letter in form and substance
reasonably satisfactory to the Company.

 

2
Authorization of Shares. The Company covenants that all Warrant Shares, which may be issued upon the exercise of the purchase
rights represented by this Warrant in accordance with the terms of this Warrant, including the payment of the exercise price for such
Warrant Shares, will, upon exercise of the purchase rights represented by this Warrant, be duly authorized, validly issued, fully paid
and nonassessable and free from all taxes, liens and charges in respect of the issue thereof (other than taxes in respect of any transfer
occurring contemporaneously with such issue).

 

    	 

     

    

 

3.
Exercise of Warrant.

 

(a)
Exercise of the purchase rights represented by this Warrant may be made at any time or times on or before the Termination Date by delivery
to the Company of a duly executed Notice of Exercise Form [annexed / attached] hereto (or such other office or agency of the Company
as it may designate by notice in writing to the registered Holder at the address of such Holder appearing on the books of the Company)
and surrender of this Warrant, together with payment of the aggregate Exercise Price of the shares thereby purchased by wire transfer
or cashier’s check drawn on a United States bank in immediately available funds. Certificates for shares purchased hereunder shall
be delivered to the Holder within 5 Trading Days from the delivery to the Company of the Notice of Exercise Form, surrender of this Warrant
and payment of the aggregate Exercise Price as set forth above (“Warrant Share Delivery Date”). This Warrant shall
be deemed to have been exercised on the later of the date the Notice of Exercise is delivered to the Company and the date the Exercise
Price is received by the Company. The Warrant 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 by payment to the Company of the Exercise Price and all taxes required to be paid by the Holder, if any, pursuant to Section
5 prior to the issuance of such shares, have been paid. If the Company fails to deliver to the Holder a certificate or certificates representing
the Warrant Shares pursuant to this Section 3(a) by the end of business (New York, New York time) on the fifth Trading Day following
the Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise.

 

(b)
If this Warrant shall have been exercised in part, the Company shall, upon the Holder’s request, deliver to Holder a new Warrant
evidencing the rights of Holder to purchase the unpurchased Warrant Shares called for by this Warrant, which new Warrant shall in all
material respects be identical with this Warrant.

 

(c)
If at any time after one year from the date of issuance of this Warrant there is no effective registration statement registering the
resale of the Warrant Shares by the Holder at such time, this Warrant may also be exercised at such time by means of a “cashless
exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient
obtained by dividing [(A-B) (X)] by (A), where:

 

	 	(A)
  =	the VWAP on the Trading Day immediately preceding the date
of such election;
	 	 	 
	 	(B) = 	the Exercise Price of this Warrant, as adjusted; and
	 	 	 
	 	(X) =	the number of Warrant Shares issuable upon exercise of this
Warrant in accordance with the terms of this Warrant by means of a cash exercise rather than a cashless exercise.

 

“VWAP”
shall mean, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then listed
or quoted on a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the nearest preceding date)
on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg Financial L.P. (based on a trading
day from 9:30 a.m. Eastern Time to 4:02 p.m. Eastern Time); (b) if the Common Stock is not then listed or quoted on a Trading Market
and if prices for the Common Stock are then reported in the “Pink Sheets” published by the National Quotation Bureau Incorporated
(or a similar organization or agency succeeding to its functions of reporting prices), the most recent bid price per share of the Common
Stock so reported; or (c) in all other cases, the fair market value of a share of Common Stock as determined by an independent appraiser
selected in good faith by the Purchasers and reasonably acceptable to the Company.

 

    	-2-

     

    

 

4.
No Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise
of this Warrant. As to any fraction of a share which Holder would otherwise be entitled to purchase upon such exercise, the Company shall
pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the Exercise Price.

 

5.
Charges, Taxes and Expenses. Issuance of certificates for Warrant Shares shall be made without charge to the Holder for any issue
or transfer tax or other incidental expense in respect of the issuance of such certificate, all of which taxes and expenses shall be
paid by the Company, and such certificates shall be issued in the name of the Holder or in such name or names as may be directed by the
Holder; provided, however, that in the event certificates for Warrant Shares are to be issued in a name other than the name of the Holder,
this Warrant when surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly executed by the Holder; and
the Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental thereto.

 

6.
Closing of Books. The Company will not close its shareholder books or records in any manner which prevents the timely exercise
of this Warrant, pursuant to the terms hereof.

 

7.
Transfer, Division and Combination.

 

(a)
Subject to compliance with any applicable securities laws and the conditions set forth in Sections 1 and 7(e) hereof, [and to
the provisions of Section 4 of the Subscription Agreement,] this Warrant and all rights hereunder are transferable, in whole or
in part, upon surrender of this Warrant at the principal office of the Company, together with a written assignment of this Warrant substantially
in the form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable
upon the making of such transfer. Upon such surrender and, if required, such payment, the Company shall execute and deliver a new Warrant
or Warrants in the name of the assignee or assignees and in the denomination or denominations specified in such instrument of assignment,
and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant shall promptly
be cancelled. A Warrant, if properly assigned, may be exercised by a new holder for the purchase of Warrant Shares without having a new
Warrant issued.

 

(b)
This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the Company, together
with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by the Holder or its agent
or attorney. Subject to compliance with Section 7(a), as to any transfer which may be involved in such division or combination, the Company
shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined in accordance with
such notice.

 

(c)
The Company shall prepare, issue and deliver at its own expense (other than transfer taxes) the new Warrant or Warrants under this Section
7.

 

(d)
The Company agrees to maintain, at its aforesaid office, books for the registration and the registration of transfer of the Warrants.

 

    	-3-

     

    

 

(e)
The Company may require, as a condition of allowing such transfer (i) that the Holder or transferee of this Warrant, as the case may
be, furnish to the Company a written opinion of counsel (which opinion shall be in form, substance and scope customary for opinions of
counsel in comparable transactions) to the effect that such transfer may be made without registration under the Securities Act and under
applicable state securities or blue sky laws, (ii) that the holder or transferee execute and deliver to the Company an investment letter
in form and substance acceptable to the Company and (iii) that the transferee be an “accredited investor” as defined in Rule
501(a) promulgated under the Securities Act or a qualified institutional buyer as defined in Rule 144A(a) under the Securities Act.

 

8.
No Rights as Shareholder until Exercise. This Warrant does not entitle the Holder to any voting rights or other rights as a shareholder
of the Company prior to the exercise hereof. Upon the surrender of this Warrant and the payment of the aggregate Exercise Price (or by
means of a cashless exercise), the Warrant Shares so purchased shall be and be deemed to be issued to such Holder as the record owner
of such shares as of the close of business on the later of the date of such surrender or payment.

 

9.
Loss, Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably
satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant Shares,
and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case of the Warrant,
shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate, if mutilated, the
Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation, in lieu of such Warrant
or stock certificate.

 

10.
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, Sunday or a legal holiday, then such action may be taken or such right may be exercised on the
next succeeding day not a Saturday, Sunday or legal holiday.

 

11.
Adjustments of Exercise Price and Number of Warrant Shares. The number and kind of securities purchasable upon the exercise of
this Warrant and the Exercise Price shall be subject to adjustment from time to time in the event that the Company: (i) pays a dividend
in shares of Common Stock or make a distribution in shares of Common Stock to holders of its outstanding Common Stock; (ii) subdivides
its outstanding shares of Common Stock into a greater number of shares; (iii) combines its outstanding shares of Common Stock into a
smaller number of shares of Common Stock; or (iv) issues any shares of its capital stock in a reclassification of the Common Stock, then
the number of Warrant Shares purchasable upon exercise of this Warrant immediately prior thereto shall be adjusted so that the Holder
shall be entitled to receive the kind and number of Warrant Shares or other securities of the Company which it would have owned or have
been entitled to receive had such Warrant been exercised in advance thereof. Upon each such adjustment of the kind and number of Warrant
Shares or other securities of the Company which are purchasable hereunder, the Holder shall thereafter be entitled to purchase the number
of Warrant Shares or other securities resulting from such adjustment at an Exercise Price per Warrant Share or other security obtained
by multiplying the Exercise Price in effect immediately prior to such adjustment by the number of Warrant Shares purchasable pursuant
hereto immediately prior to such adjustment and dividing by the number of Warrant Shares or other securities of the Company that are
purchasable pursuant hereto immediately after such adjustment. An adjustment made pursuant to this paragraph shall become effective immediately
after the effective date of such event retroactive to the record date, if any, for such event.

 

    	-4-

     

    

 

 [12.
 Subsequent Equity Sales. In the event that on or subsequent
to the Issuance Date, the Company issues or sells any Common Stock, any securities which are convertible into or exchangeable for its
Common Stock or any convertible securities, or any warrants or other rights to subscribe for or to purchase or any options for the purchase
of its Common Stock or any such convertible securities (the “Common Stock Equivalents”) (other than (i) securities
which are issued pursuant to the Subscription Agreement or this Warrant, (ii) shares of Common Stock or options to purchase such shares
issued to employees, consultants, officers or directors in accordance with stock plans or agreements of the Company, and shares of Common
Stock issuable under options or warrants that are outstanding as of the date hereof or issued pursuant to any stock incentive plan of
the Company, and (iii) shares of Common Stock issued pursuant to a stock dividend, split or other similar transaction) at an effective
price per share which is less than the Exercise Price, then the Exercise Price in effect immediately prior to such issue or sale shall
be reduced to the lowest per share price of Common Stock in such issuance or sale or deemed issuance or sale./ 

   

 12.
Subsequent Equity Sales. 

   

 (a)
Except with respect to Exempt Issuances as defined in Section 12(c) below, in the event that on or subsequent to the Issuance Date and
for a period of twenty-four (24) months thereafter (the “Subsequent Issuance Period”), the Company issues or sells
any Common Stock, or any securities which are convertible into or exchangeable for its Common Stock or any convertible securities, or
any warrants or other rights to subscribe for or to purchase or any options for the purchase of its Common Stock or any such convertible
securities (the “Common Stock Equivalents”), the Exercise Price shall be exercisable at the lesser of: (1) Twelve
Dollars ($12.00); or (2) the price per share equal to the per share price of the Company’s Common Stock Equivalents issued or sold
during the Subsequent Issuance Period (the “Discounted Exercise Price”). The number of such Warrants shall not be
adjusted due to a Discounted Exercise Price, only the Exercise Price. 

   

 (b) Any price adjustment herein shall be calculated to the nearest
cent. 

   

 (c)
The term “Exempt Issuances” for purposes of Section 12(a) above means (i) issuances of Common Stock Equivalents to
employees, directors, service providers and consultants, whether or not pursuant to the Company’s then-current Stock Incentive
Plan(s); (ii) issuances of Common Stock Equivalents in connection with the conversion or exercise of convertible or exercisable Common
Stock Equivalents outstanding as of the Issuance Date; (iii) issuances of Common Stock Equivalents in connection with the acquisition
of another company by the Company, provided that the Company is the surviving entity; (iv) issuances of Common Stock Equivalents for
strategic business partners, joint ventures and alliances; (v) issuances of Common Stock Equivalents in connection with lease lines,
bank financing or other similar transactions that are primarily of a non-equity financing nature; and (vi) private offerings within the
twenty-four (24) months following the date of this Agreement, other than investments by the Holder, up to Twenty Five Million Dollars
($25,000,000) of the Common Stock Equivalents on terms and conditions no more favorable to an investor than the terms and conditions
of the transaction represented by this Agreement, until the Company completes an initial public offering, follow-on public offering or
a sale to or merger with a public company.] 

 

13.
Reorganization, Reclassification, Merger, Consolidation or Disposition of Assets. In case the Company shall reorganize its capital,
reclassify its capital stock, consolidate or merge with or into another corporation (where the Company is not the surviving corporation
or where there is a change in or distribution with respect to the Common Stock of the Company), or sell, transfer or otherwise dispose
of its property, assets or business to another corporation and, pursuant to the terms of such reorganization, reclassification, merger,
consolidation or disposition of assets, shares of common stock of the successor or acquiring corporation, or any cash, shares of stock
or other securities or property of any nature whatsoever (including warrants or other subscription or purchase rights) in addition to
or in lieu of common stock of the successor or acquiring corporation (“Other Property”), are to be received by or
distributed to the holders of Common Stock of the Company, then, from and after the consummation of such transaction or event, the Holder
shall have the right thereafter to receive, instead of the Warrant Shares, at the option of the Holder, (a) upon exercise of this Warrant,
the number of shares of Common Stock of the successor or acquiring corporation or of the Company, if it is the surviving corporation,
and Other Property receivable upon or as a result of such reorganization, reclassification, merger, consolidation or disposition of assets
by a Holder of the number of shares of Common Stock for which this Warrant is exercisable immediately prior to such event or (b) cash
equal to the value of this Warrant as determined in accordance with the Black-Scholes option pricing formula. For purposes of this Section
13, “common stock of the successor or acquiring corporation” shall include stock of such corporation of any class which is
not preferred as to dividends or assets over any other class of stock of such corporation and which is not subject to redemption and
shall also include any evidences of indebtedness, shares of stock or other securities which are convertible into or exchangeable for
any such stock, either immediately or upon the arrival of a specified date or the happening of a specified event and any warrants or
other rights to subscribe for or purchase any such stock. The foregoing provisions of this Section 13 shall similarly apply to successive
reorganizations, reclassifications, mergers, consolidations or disposition of assets.

 

14.
Piggyback Registration [and Lock-Up]  . 

 

(a)
Whenever the Company proposes to register any shares of its Common Stock under the Securities Act, whether for its own account or
for the account of one or more shareholders of the Company and the form of registration statement to be used may be used for any
registration of the Company’s securities [, not including an initial public offering, as described below in Section 14(b),
unless the Company and the underwriters agree to include such shares] (a “Piggyback Registration”), the
Company shall give prompt written notice (in any event no later than 10 days prior to the filing of such registration statement) to
the Holder of its intention to effect such a registration and, subject to Section 14(b) and Section 14(c), shall include in such
registration all Warrant Shares with respect to which the Company has received written requests for inclusion from the holders of
Warrant Shares within 10 days after the Company’s notice has been given to each such holder. The Company may postpone or
withdraw the filing or the effectiveness of a Piggyback Registration at any time in its sole discretion. [The Company shall have
the sole discretion to require the Holder to lock-up its Warrant Shares for up to six (6) months following the effective date of the
applicable registration statement, and the Holder hereby agrees to, promptly upon request by the Company, execute any instrument
reasonably effectuating such lock-up.] 

 

    	-5-

     

    

 

(b)
If a Piggyback Registration is initiated as [a primary / an initial] underwritten offering on behalf of the Company and the
managing underwriter advises the Company and holders having similar rights to Piggyback Registration (“Rights
Holders”) (if the Holder has elected to include Warrant Shares in such Piggyback Registration) in writing that in its
opinion the number of shares of Common Stock proposed to be included in such registration, including all Warrant Shares and all
other shares of Common Stock proposed to be included in such underwritten offering, exceeds the number of shares of Common Stock
which can be sold in such offering and/or that the number of shares of Common Stock proposed to be included in any such registration
would adversely affect the price per share of the Common Stock to be sold in such offering, the Company shall include in such
registration (i) first, the number of shares of Common Stock that the Company proposes to sell; (ii) second, the number of shares of
Common Stock requested to be included therein by all Rights Holders, allocated pro rata among all such Rights Holders on the basis
of the number of Warrant Shares owned by each such holder or in such manner as they may otherwise agree; and (iii) third, the number
of shares of Common Stock requested to be included therein by holders of Common Stock (other than by the Rights Holders), allocated
among such holders in such manner as they may agree.

 

(c)
If a Piggyback Registration is initiated as an underwritten offering on behalf of a holder of Common Stock other than a Holder, and the
managing underwriter advises the Company in writing that in its opinion the number of shares of Common Stock proposed to be included
in such registration, including all Warrant Shares and all other shares of Common Stock proposed to be included in such underwritten
offering, exceeds the number of shares of Common Stock which can be sold in such offering and/or that the number of shares of Common
Stock proposed to be included in any such registration would adversely affect the price per share of the Common Stock to be sold in such
offering, the Company shall include in such registration (i) first, the number of shares of Common Stock requested to be included therein
by the holder(s) requesting such registration and by the Rights Holders, allocated pro rata among such holders on the basis of the number
of shares of Common Stock (on a fully diluted, as converted basis) and the number of Warrant Shares, as applicable, owned by all such
holders or in such manner as they may otherwise agree; and (ii) second, the number of shares of Common Stock requested to be included
therein by holders of Common Stock (other than by the Rights Holders), allocated among such holders in such manner as they may agree.

 

(d)
If any Piggyback Registration is initiated as [a primary / an initial] underwritten offering on behalf of the Company, the
Company shall select the investment banking firm or firms to act as the managing underwriter or underwriters in connection with such
offering.

 

15.
Notice of Adjustment or Corporate Action.

 

(a)
Notice of Adjustment. Whenever the number of Warrant Shares or number or kind of securities or other property purchasable upon
the exercise of this Warrant or the Exercise Price is subject to adjustment, as herein provided, the Company shall use reasonable efforts
to give notice thereof to the Holder. The Company’s failure to comply with this Section shall not constitute a default under this
Warrant.

 

    	-6-

     

    

 

(b)
Notice of Corporate Action. If at any time: (i) the Company shall take a record of the holders of its Common Stock for the purpose
of entitling them to receive a dividend or other distribution; (ii) there shall be any capital reorganization of the Company, any reclassification
or recapitalization of the capital stock of the Company or any consolidation or merger of the Company with, or any sale, transfer or
other disposition of all or substantially all the property, assets or business of the Company to, another corporation or; (iii) there
shall be a voluntary or involuntary dissolution, liquidation or winding up of the Company; then, in any one or more of such cases, the
Company shall give to Holder (i) prior written notice of the date on which a record date shall be selected for such dividend or distribution
or for determining rights to vote in respect of any such reorganization, reclassification, merger, consolidation, sale, transfer, disposition,
liquidation or winding up, and (ii) in the case of any such reorganization, reclassification, merger, consolidation, sale, transfer,
disposition, dissolution, liquidation or winding up, prior written notice of the date when the same shall take place. Such notice in
accordance with the foregoing clause also shall specify (i) the date on which the holders of Common Stock shall be entitled to any such
dividend or distribution, and the amount and character thereof, and (ii) the date on which any such reorganization, reclassification,
merger, consolidation, sale, transfer, disposition, dissolution, liquidation or winding up is to take place and the time, if any such
time is to be fixed, as of which the holders of Common Stock shall be entitled to exchange their Warrant Shares for securities or other
property deliverable upon such disposition, dissolution, liquidation or winding up. Each such written notice shall be sufficiently given
if addressed to Holder at the last address of Holder appearing on the books of the Company and delivered in accordance with Section 17(d).

 

16.
Authorized Shares. The Company covenants that during the period the Warrant is outstanding, it will reserve from its authorized
and unissued Common Stock a sufficient number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase
rights under this Warrant. The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers
who are charged with the duty of executing stock certificates to execute and issue the necessary certificates for the Warrant Shares
upon the exercise of the purchase rights under this Warrant. The Company will take all such reasonable action as may be necessary to
assure that such Warrant Shares may be issued as provided herein without violation of any applicable law or regulation, or of any requirements
of the Trading Market upon which the Common Stock may be listed.

 

17.
Miscellaneous.

 

(a)
Jurisdiction. All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be governed
by and construed in accordance with the laws of the State of New York applicable to contracts to be wholly performed within such state
and without regard to conflicts of law provisions that would result in the application of any laws other than the laws of the State of
New York. Any legal action or proceeding arising out of or relating to this Warrant may be instituted in the courts of the State of New
York sitting in New York County or in the United States of America for the Southern District of New York, and the parties hereto irrevocably
submit to the jurisdiction of each such court in any action or proceeding. Holder hereby irrevocably waives and agrees not to assert,
by way of motion, as a defense, or otherwise, in every suit, action or other proceeding arising out of or based on this Warrant and brought
in any such court, any claim that Holder is not subject personally to the jurisdiction of the above named courts, that Holder’s
property is exempt or immune from attachment or execution, that the suit, action or proceeding is brought in an inconvenient forum or
that the venue of the suit, action or proceeding is improper.

 

(b)
Restrictions. The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered for
resale, will have restrictions upon resale imposed by state and federal securities laws.

 

(c)
Nonwaiver and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall
operate as a waiver of such right or otherwise prejudice Holder’s rights, powers or remedies, notwithstanding all rights hereunder
terminate on the Termination Date. If the Company willfully and knowingly fails to comply with any provision of this Warrant, which results
in any material damages to the Holder, the Company shall pay to Holder such amounts as shall be sufficient to cover any costs and expenses
including, but not limited to, reasonable attorneys’ fees, including those of appellate proceedings, incurred by Holder in collecting
any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder.

 

    	-7-

     

    

 

(d) Notices.
Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company shall be delivered [in
accordance with the notice provisions of the Investment Banking Agreement between Newbridge Securities Corporation and the Company
dated September 28, 2018, as subsequently amended / to the address in the Company’s records for the Holder]. 

 

(e)
Limitation of Liability. No provision hereof, in the absence of any affirmative action by Holder to exercise this Warrant or purchase
Warrant Shares, and no enumeration herein of the rights or privileges of Holder, shall give rise to any liability of Holder for the purchase
price of any Common Stock or as a shareholder of the Company, whether such liability is asserted by the Company or by creditors of the
Company.

 

(f)
Successors and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall
inure to the benefit of and be binding upon the successors of the Company and the successors and permitted assigns of Holder. The provisions
of this Warrant are intended to be for the benefit of all Holders from time to time of this Warrant and shall be enforceable by any such
Holder or holder of Warrant Shares.

 

(g)
Amendment. This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company and
the Holder.

 

(h)
Severability. Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid
under applicable law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall
be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining
provisions of this Warrant.

 

(i)
Headings. The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed
a part of this Warrant.

 

[Signature
Page Follows]

 

    	-8-

     

    

 

IN
WITNESS WHEREOF, the Company has caused this Warrant to be executed as of the Issuance Date by its officer thereunto duly
authorized.

 

	SQL
    TECHNOLOGIES CORP.	 
	 	 	 
	By:
		 
	 	John
    P. Campi	 
	 	Chief
    Executive Officer	 

 

    	-9-

     

    

 

NOTICE
OF EXERCISE

 

To:
SQL Technologies Corp.

 

(1)
The undersigned hereby elects to purchase __________ Warrant Shares of the Company pursuant to the terms of the attached Warrant,
and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes, if any.

 

(2)
Payment shall take the form of (check applicable box):

  

 ☐ in
lawful money of the United States; or

  

 ☐ the
cancellation of such number of Warrant Shares as is necessary, in accordance with the formula set forth in subsection 3(c), to exercise
this Warrant with respect to the maximum number of Warrant Shares purchasable pursuant to the cashless exercise procedure set forth in
subsection 3(c).

 

(3)
Please issue a certificate or certificates representing said Warrant Shares in the name of the undersigned or in such other name as is
specified below:

 

 

 

The
Warrant Shares shall be delivered to the following:

 

 

 

 

 

 

 

(4)
The undersigned is an “accredited investor” as defined in Regulation D under the Securities Act of 1933, as amended.

 

	(PURCHASER)	 
	 	 	 
	By:
    	             	 
	 	 	 
	Name:
    	 	 
	 	 	 
	Title:
    	 	 
	 	 	 
	Dated:
    	 	 

 

    	-10-

     

    

 

ASSIGNMENT
FORM

 

(To
assign the foregoing warrant, execute this form and supply required information.

Do
not use this form to exercise the warrant.)

 

FOR
VALUE RECEIVED, the foregoing Warrant and all rights evidenced thereby are hereby assigned to
_________________________________________________________________________________ whose address is
_____________________________.

 

	 	 	 	Dated: _____________, __________
	 	 	 	 
	 	Holder’s
    Signature	 	_______________________________________
	 	 	 	 
	 	Holder’s
    Address:	 	_______________________________________
	 	 	 	 
	 	 	 	_______________________________________
	 	 	 	 
	 	 	 	_______________________________________

 

	Signature
    Guaranteed: _____________________ 

 

NOTE:
The signature to this Assignment Form must correspond with the name as it appears on the face of the Warrant, without alteration or enlargement
or any change whatsoever, and must be guaranteed by a bank or trust company. Officers of corporations and those acting in a fiduciary
or other representative capacity should file proper evidence of authority to assign the foregoing Warrant.

 

    	-11-

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